Gold Resource Corporation Receives Tailings Permit for El Aguila Projectadmin
Gold Resource Corporation report it has been granted the Mexican federal permit to build the El Aguila Project’s tailings facility in the southern state of Oaxaca, Mexico. The El Aguila Project is targeting gold production at the earliest possible date subject to timely obtaining the balance of the required permits, regulatory approvals and equipment delivery schedules.
On October 16, 2008, the United States of Mexico’s Secretary of the Environment and Natural Resources (SEMARNAT) granted GRC’s 100% owned Mexican subsidiary, Golden Trump Resources, S.A. de C.V., federal permission to construct the El Aguila Project tailings impoundment facility.
Gold Resource Corporation’s president, William W. Reid, stated, “We are pleased to have obtained our third federal permit for the El Aguila Project. This permit allows GRC to begin construction of the El Aguila tailings facility. The contract for the tailings impoundment has been awarded and the contractor is currently on site to immediately begin construction. The El Aguila Project is moving forward on all fronts as we target production start-up in Q1 2009.”
The same federal agency that has granted GRC permits for the road, mill and now the tailings impoundment facility is currently evaluating GRC’s remaining permit application for the open pit mine.
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The company has 34,324,619 shares outstanding and no warrants. For more information, please visit GRC’s website, located at www.Goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.