Extorre Gold Mines has received a positive environmental impact assessment (EIA) for its Cerro Moro gold-silver mine from the Santa Cruz provincial government, Argentina.
With receipt of this approval and completion of the project pre-feasibility study, which is expected to take place in June, the firm will proceed with the engineering and mine development of the project.
The firm has purchased the 140km² Estancia area, which covers the principal vein zones at the Cerro Moro project and areas selected for construction of mineral processing facilities and mine infrastructure.
Extorre president and CEO Eric Roth said the project's ideal geographic location and very high grade gold-silver veins will allow Extorre to obtain near-term, low-cost gold-silver production from a relatively modest capital investment.
"The company will now have an opportunity to evaluate the potential for expanding the scope and the life of the proposed mine," Roth said.