Calcatreu Eis Rejected, Argentina

Environmental authorities in southern Argentina's Río Negro province have rejected the environmental impact study (EIS) for Canadian Aquiline Resources' Calcatreu gold project.

Calcatreu EIS rejected, Argentina

BNamericas.com

Monday, July 4, 2005

Environmental authorities in southern Argentina's Río Negro province have rejected the environmental impact study (EIS) for Canadian junior Aquiline Resources' (TSX-V: AQI) Calcatreu gold project. Río Negro's provincial council of ecology and environment (Codema) founded its decision on the fact that the EIS is not based on the final project design and does not contain detailed engineering, among other factors, the report said.

Río Negro governor Miguel Saiz had previously indicated he would reject the EIS on the grounds that cyanide is used to extract the gold. The provincial legislature is due to debate in July a bill that prohibits the use of cyanide in mining.

Aquiline Resources is completing a US$1mn bankable feasibility study at Calcatreu. The company envisages a mine that 97,000oz/y of gold and 580,000oz/y of silver at average cash costs of US$191/oz over the first four years of the seven-year mine life.