🕐21.12.10 - 06:54 Uhr
Enviro Gold Finalises Purchase of Minority Interest in Las Lagunas
EnviroGold Limited
ASX Announcement
21 December 2010
ENVIROGOLD FINALISES PURCHASE OF MINORITY INTEREST IN LAS
LAGUNAS GOLD PROJECT, DOMINICAN REPUBLIC
EnviroGold Limited (ASX Code "EVG") advises that it has completed the
purchase of the minority interest in the Las Lagunas Gold Project in the
Dominican Republic and now owns 100% of both the project and the Albion
Process Plant currently under construction.
Mr Brian Johnson, Executive Chairman of EnviroGold said that construction
was accelerating with concrete foundations nearing completion, the ball
mill and Isamill installation well advanced and offsite fabrication of
tankage and structural steel underway in four separate workshops.
Only 5% by value of contracts for construction and supply of mechanical and
electrical equipment remained outstanding with forecast final costs
remaining under budget.
Commissioning of the 75,000 oz Au per year plant is expected in the fourth
quarter of 2011.
Mr Johnson said that the Companys focus in the New Year would be on its
underground drilling program in the Pinglio and Papercorp mines in Azuay
Province, Ecuador with initial intersection and assay results expected by
the end of February 2011.
The 2011 drilling program and associated metallurgical testwork is expected
to result in a development decision by the end of the year to expand
underground mining operations to 100,000 oz Au per year during 2012.
Download the full ASX Announcement by visiting:
http://esp.gewru.com/download/files/12414/1293677/20101221%20-%20ENVIROGOLD%20FINALISES%20PURCHASE.pdf
For additional information please contact:
Mr Brian Johnson
Executive Chairman
Email:
Ph: +61 2 4861 1740
Mr James Tyers
Director of Operations
Email:
Ph: +61 2 4861 1740
David Brook
Professional Public Relations
Email:
Ph: +61 8 9388 0944
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