Eco Oro’s Angostura Project ‘Mostly Outside’ of New Park

Eco Oro Minerals reported on January 17, 2013, that its Angostura underground gold-silver project is mostly outside the boundaries of Colombia’s new Paramo de Santurbán regional wilderness park and that development of the project will not be impeded by the park.

Eco Oro is a Canadian junior company headquartered in Vancouver and was for-merly known as Greystar Resources. The Angostura deposit is its principal asset. The project covers a total area of 215 ha, of which 193 ha fall outside of the surface boundaries of the park. Approximately 3 million oz of the project’s indicated gold equivalent resources and 2.3 million oz of its inferred gold equivalent resources are outside the park boundaries.

The Angostura project is located in the department of Santander in northeastern Colombia near the Columbia-Venezuela border, about 400 km north-northeast of the national capital of Bogotá and 67 km northeast of Bucaramanga, the capital city of Santander. The property is located in mountainous, relatively rugged terrain at elevations ranging from 2,400 to 3,500 m above sea level.

An updated preliminary economic assessment supported by an NI 43-101 compliant technical report dated March 23, 2012, indicated that the project has the potential to produce 222,000 to 303,000 gold equivalent oz/y for 10 years at a mining rate of 6,000 mt/d. Eco Oro is currently completing a prefeasibility study on Angostura to determine the optimal project configuration and production rate.

As featured in Womp 2013 Vol 02 -