Aguila American Gold Ltd. has received approval of the submitted environmental impact assessment (EIA) from the corresponding government authorities within the Ministry of Energy and Mines (Ministerio de Energia y Minas (MEM)) of Peru. This most important step for Aguila facilitates the advancement of its 100-per-cent-owned Angostura gold project, providing complete authorization for the company's planned 7,000-metre diamond drilling program, to commence immediately, while citing responsible monitored use of water and resources as well as the construction of basic support infrastructure.
With preoperation infrastructure in the final stages of readiness and the receipt of legal approvals from the General Directorate of Mining (Direccion General de Mineria) regarding the EIA, community agreement, work program and environmental monitoring, a newly constructed camp will facilitate drilling operations as well as the final completion of a new community hall and the recently commenced rebuilding of the community chapel.
The company is pleased with the development and relationship gained within the local community of Mollepina, and anticipates further cooperation amongst all parties in aid of future project advancement.
The company is also pleased to announce it has commenced an induced polarization and ground magnetometer geophysical survey, and has contracted Fugro Ground Geophysics, a member of the Fugro group of companies worldwide, represented in Peru by Geoterrex, to complete an initial 65.7 line kilometres of IP offset pole-dipole surveying along with ground magnetics, both in one geophysics campaign. In concert with the anticipated results of the upcoming drill program, the geophysics will greatly aid future diamond drilling campaigns in determining if potential resource areas are accessible from surface or from future underground drill stations along the known five-kilometre strike of the gold-bearing structure.
Additionally, the company is pleased to announce that Al MacGregor, of More Core Diamond Drilling Services Ltd., has arrived in Lima to oversee the drilling contract, and will be joined shortly by two more highly experienced drill foreman. Mr. MacGregor has tremendous Latin American drilling experience drilling in steep terrain, and has overseen the commissioning, by Multi-Power Products Ltd. of Kelowna, of a new, custom-built, mid-sized, man-portable diamond drill capable of delivering a larger-diameter drill core product and expressly modified to meet the company's criteria. This drill rig is the first of its kind available in Peru, and is capable of meeting the company's negotiated mandate of an absolute minimum amount of surface disturbance. More Core is expecting delivery in Lima of all necessary equipment, shipped from Vancouver, B.C., by Aug. 9. The equipment is also readily convertible for underground core drilling and available to the company as it advances its potential resource definition, pending results from this initial surface diamond drilling campaign.
James A. McCrea, PGeo, vice-president of exploration, a qualified person as defined by National Instrument 43-101, has reviewed this news release and approves all scientific and technical disclosure.
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