montreal, April 12, 2023 /CNW/- Auxico Resources Canada Inc. (CSE: AUAG) (OTCQB: AUXIF) (“Company” or “Auxico”) is pleased to announce that it has received Environmental Impact Assessment (“EIA”) approval for the Minastyc property from the Colombian Department of Environment. , Regional Autonomous Corporation of OrynokIa (Corporinochia). The Minastyc property is located in Puerto Carreño, Vichada. Columbiaand 100% company-managed mineral-rich projects.
The Minastyc property has been identified as a project of national interest by the National Mining Agency (“ANM” or Agencia Nacional de Minería). Columbiapositioning the country as a major mining investment destination latin americaThis approval follows the granting of a small-scale mining permit by the Colombian National Mining Agency and the approval of the company’s Plan of Work (“PTO” or Programa de trabajo y obras) announced in December 2019. May 16thth2022.
The EIA announcement is the culmination of a scientific process to identify optimizable aspects of the project and provide solutions that enable responsible mining operations. EIA approval is an important milestone that allows us to move equipment on site, such as heavy equipment for bulk sampling and processing facilities. This approval will allow us to proceed to the next phase of our business and complete the underlying licenses and necessary secondary permits.
The company’s goal is to produce and export rare earth elements, transition metals and post-transition metals such as tin from the Minastyc property. With important minerals and rare earth elements hosted in surface monazite sands, this makes this a highly favorable geological formation that, with limited infrastructure requirements, will enable sales and export to commence in the near future. With the grant of EIA approval, Auxico will begin an operational plan to bring his Minastyc property into small-scale mining production, achieving volumes of up to 300 tonnes per month.
Mark BillingsChairman of Auxico Resources commented: “Environmental approval of Minastyc properties is an important step in the process of moving a project into production. We would like to thank Corporinoquia for the work they did in the review process. ColumbiaThis includes our commitment to Indigenous Peoples and others in our communities. With the environmental impact assessment required for Colombia’s mining license application now granted, the company is making steady progress toward becoming a regional leader in the development and supply of critical minerals and other high-value resources. . Fieldwork and sampling have confirmed that Minastyc has robust mineral resources, including high value metals, important minerals and rare earth surface discoveries, setting the platform for the company’s next stage of growth. rice field. EIA approval is proof that our operations are fully aligned with environmental standards, national interests and the development of resources necessary for the energy transition. “
A NI-43101 technical report has already been conducted at the company-controlled Minastyc property showing the presence of minerals including tin, tantalum, niobium, titanium, and rare earth elements. The report further identified a concentrate obtained from bulk sampling, which resulted in a total rare earth oxide content of up to 68.25% and contained elements such as cerium, dysprosium, erbium, gadolinium, hafnium and lanthanum. (The full report can be accessed on our website: http://www.auxicoresources.com/reports). Previously published test results on samples taken from Area 50, the TA area, and two other areas show that high-grade gold, tin, tantalum, niobium, platinum, titanium, zirconium, hafnium, and iridium are present on the surface. (see dated press release). April 7th2022, and October 20thth, 2021). A 72-kilogram sample collected from the Minastyc property is currently being tested and results are pending. His current NI 43-101 Technical Report will be updated to include Mineral Resource estimates, after which a work plan will be developed.
Disclaimer – Sampling methods are not NI 43-101 compliant, as results are based on enriched samples using selective picking methods.
qualified person
Mr. Ricardo Sierra, Bachelor of Science, Member of the Australian Institute of Mining and Metallurgy (MAusIMM 3078246) and a Qualified Person (QP) as defined by National Instrument 43-101, has reviewed the scientific and technical information contained in this news release and approved. To his Minastyc project in Vichada Colombia.Mr. Ricardo Sierra is an independent technical consultant for Auxico Resources Canada Inc.
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) is a Canadian company incorporated in 2014. montrealis traded on the Canadian Stock Exchange (CSE) under the symbol AUAG and on the OTCQB market under the symbol AUXIF. Auxico is engaged in the acquisition, exploration and development of mineral properties. Columbia, Brazil, Mexico and the Democratic Republic of the Congo.
Additional information about Auxico can be found on our website (www.auxicoresources.com) or SEDAR (www.sedar.com) under “Auxico Resources Canada Inc.”
On behalf of the Board of Directors
« I have signed. »
Mark Billings
Chairman, Auxico Resources Canada Inc.
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This press release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and our actual results, performance or achievements or developments, either expressed or implied by such forward-looking statements. Includes other factors that could cause results, performance or achievements to differ materially from those expected.
The Company believes that the expectations reflected in this forward-looking information are reasonable in light of the experience of its officers and directors, current conditions, anticipated future developments and such other factors as it deems appropriate. However, undue reliance should not be placed on this information. We cannot give any guarantee that they will be correct. As used in this press release, “estimate”, “predict”, “believe”, “expect”, “intend”, “expect”, “plan”, “predict”, “possible” The words “may” or “should” and negative forms of these words or variations thereof or equivalent terms are intended to identify forward-looking statements and information. . Forward-looking statements and information in this press release include information regarding the planned exploration, drilling program and development of the Minastyc or Massangana projects, their sampling programs, indications and other mining projects and their prospects. is included. Brazil, Columbia and/or Democratic Republic of the CongoSuch statements and information reflect our current views. Risks and uncertainties that could cause actual results to differ materially from those envisioned in these forward-looking statements and information.
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