DGAP-News: Astur Gold Corp. SUBMITS INITIAL DOCUMENTATION FOR ENVIRONMENTAL IMPACT ASSESSMENT AT SALAVE
(firmenpresse) - DGAP-News: Astur Gold Corp. / Key word(s): Miscellaneous
Astur Gold Corp. SUBMITS INITIAL DOCUMENTATION FOR ENVIRONMENTAL
IMPACT ASSESSMENT AT SALAVE
07.07.2011 / 20:10
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Vancouver, BC - Astur Gold Corp. (TSX-V: AST, Frankfurt: CDC) ('Astur Gold'
or the 'Company') announces the submission of initial documentation towards
an Environmental Impact Assessment ('EIA') for the Salave gold project.
This marks the initiation of environmental activities that will support
environmental, industrial and mine permitting at Salave.
Documentation will be reviewed by the General Directorate of Mines and
Energy of the Principality of Asturias and a response is expected to help
guide the EIA process. Submission of a complete mine plan to the new
administration in Asturias is expected to follow in September.
Cary Pinkowski, CEO&Director commented, 'We are very pleased with the
progress towards development of the Salave project and look forward to
working with the new government of Asturias to bring Salave into
production.'
ABOUT ASTUR GOLD
The Company is developing its 100% owned Salave Gold Project in northern
Spain. Salave is one of the largest undeveloped gold deposits in Western
Europe, containing a NI 43-101 compliant mineral resource estimate of
1,683,000 oz Au in the Measured&Indicated category (2,155,000 tonnes
grading 3.88 g/t Au Measured and 15,790,000 tonnes grading 2.79 g/t Au
Indicated) with an additional 338,000 oz Au in the Inferred category
(3,770,000 tonnes grading 2.8 g/t Au). The mineral resource was estimated
by Scott Wilson RPA in the NI 43-101 report, 'Technical Report on Salave
Gold Deposit, Spain', dated March 5, 2010 available on SEDAR.
Salave is also subject to a Preliminary Economic Assessment ('PEA') by
Golder Associates titled, 'Preliminary Economic Assessment on the Salave
Gold Project, Asturias Region, Spain', dated February 12, 2011 available on
SEDAR. The PEA investigates three mining methods and two processing options
using a base case gold price of US$1,100 per ounce and throughput rate of
1.1 million tonnes per year. It shows NPV ranging from US$374 Million to
US$576 Million using a 5% discount rate; IRR ranging from 34% to 54%; and
pre-production capital expenditure payback period ranging from 2.0 to 3.1
years.
There is excellent exploration potential at Salave, with four of the
principal high grade zones of mineralization open at depth. Additional
exploration areas to the west have also yet to be tested. Previous
metallurgical results indicate gold recoveries in the order of 90% are
possible. The region boasts excellent infrastructure and a history of
mining that will help support future mine development.
ON BEHALF OF THE BOARD
Signed 'Cary Pinkowski'
Cary Pinkowski, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Vadim Dubchak
#300-1055 West Hastings Street,
Vancouver, B.C., V6E2E9
Tel: +1 604-694-1600
Fax: +1 604-694-1663
info(at)asturgold.com
www.asturgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Mineral
resources that are not mineral reserves do not have demonstrated economic
viability. This document contains certain forward looking statements which
involve known and unknown risks, delays and uncertainties not under the
Company's control which may cause actual results, performance or
achievements of the Company to be materially different from the results,
performance or expectation implied by these forward looking statements.
End of Corporate News
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131325 07.07.2011
Datum: 07.07.2011 - 20:10 Uhr
Sprache: Deutsch
News-ID 34567
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