Auxico Resources receives environmental license to pursue open-pit mining at Minastyc Project
June 08, 2023 at 06:54 pm
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Auxico Resources President and CEO Pierre Gauthier joins Natalie Stoberman from the Proactive newsroom to share more details behind receiving the approval for a two year environmental license for small-scale open-pit mining at its Minastyc Project in Colombia.
Gauthier says this license will allow the company to produce up to 50,000 tonnes or cubic meters of output per year.
The Minastyc Project focuses on large alluvial sands that contain critical minerals like tin, tantalum, and others. Gauthier explains that the environmental study, costing over $300,000, indicates robust economic potential, with promising projected revenue and EBITDA.
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Auxico Resources Canada Inc. is a mineral exploration company with silver-gold properties in the state of Sinaloa, Mexico. The Company is engaged in exploration mining opportunities in Colombia, the Democratic Republic of the Congo (DRC), Brazil and Bolivia. It holds a 100% interest in the Zamora Property (Mexico), which is host to over 15 historical mines and workings, stretching along a six kilometers northeast-southwest trending structure southeast of the city of Culiacan. Its Massangana tin tailings project has an estimated 30,000,000 tons of tailings averaging 2.83% total rare earth oxide content. It has acquired the surface rights to 1,482 hectares of land between two adjoining properties: Agualinda and the Mynastic property. It holds mineral and surface rights to the Minastyc Property located in the municipality of Puerto Carreno. Its subsidiaries include Auxico Resources S.A. de C.V., C.I. Auxico de Colombia S.A, Sociedad Minera Auxico S.A.S and Minera Auxico Bolivia S.A.