2 More companies come out today with positive sentiments on Ecuador mining situation but not mighty Aurelian.....we'd rather give it away (I'm now convinced this was drug induced) to those nice folks at Kinross.
Based on this data and subject to permissions being granted under the new Ecuadorian Mining Law anticipated later this year, Atlas is planning to embark on additional activities:
1. Commission a Preliminary Assessment to ascertain the most logical mining methods, milling process strategies and general economics for the presently known deposits;
2. Undertake additional infill drilling in both deposits to expand and upgrade the resource; and,
3. Continue drilling along strike and to depth in both deposits to further delineate the deposits.
The Ecuadorian Government stated position on mining development of any project repeatedly has been that (i) it should be of demonstrable economic benefit to the country; (ii) there should be clear benefit for the surrounding population; and, (iii) the project should be managed with a high standard of environmental care. This Resource Calculation demonstrates significant potential for national economic benefit from this project, and along with Atlas' positive social and environmental activities to-date, aligns the company's activities entirely with Government requirements for responsible mining projects.
- In the last few months a general description of the Tres Chorreras project and an estimate of the potential of the Tres Chorreras concession have been shared with Ecuadorian government officials. Further talks are now anticipated to discuss these specific results and a proposed expansion of Atlas exploration activities in the area. - The Indicated Mineral Resource Estimate and Inferred Mineral Resource Estimate gives impetus to the demonstrable seriousness of this project and opens the door to developing a major mining project in Pucara County where, although artisan mining has been a way of life for years, young people are now leaving and job possibilities are few.