Algold granted 30 year mining licence for Mauritania project

By James Henderson
Algold Resources has been awarded a 30 year mining licence from the Mauritanian government for the corporation’s Tijirit project. Under the terms of...

Algold Resources has been awarded a 30 year mining licence from the Mauritanian government for the corporation’s Tijirit project.

Under the terms of the mining license grant, Algold will deliver a feasibility study by December 2018.

Algold acquired the Tijirit project in April 2016 and immediately commenced a major exploration program, under which it completed 20,000 meters of drilling (Phase I and II).

The drilling allowed Algold to highlight a high-grade gold deposit with 'significant upside potential'.

An initial resource calculation completed in March 2017 by SGS Geostat estimated an inferred gold resource of 602,130 ounces at an average grade of 2.29 g/t Au. 

“This milestone is a significant achievement for both Mauritania and Algold and is important to our growth plan for Tijirit, as well as for the development of other deposits over the license area, which extends over 300 square kilometers,” said François Auclair, Chief Executive Officer, Algold.

“We are grateful for the Government of Mauritania's vital, ongoing support of our corporation as demonstrated by the formal consent to issue a 30-year mining license.”

Algold completed metallurgical test work on the Tijirit project, which indicated recovery of up to 97% by gravity and cyanidation of the Eleonore-type mineralization.

Share

Featured Articles

Laws Thwart US Bid to Match China on Lithium Mining

US bid to increase domestic production of lithium in order to reduce reliance on Chinese supplies of critical mineral frustrated by 'confusing' state laws

Bain: 'Inflation Dampening Mining Leaders' Net Zero Hopes'

Bain & Company’s annual Energy & Natural Resource Executive Survey shows 62% of energy execs say high costs mean net zero goals won't be met by 2060

Focus on: Lithium – ‘White Gold’ Driving the EV Revolution

Because of the move to electric vehicles, the metal lithium is rapidly becoming a vitally important part of world’s bid to move away from fossil fuels

Aluminium Industry Calls for new North America Body

Supply Chain & Operations

Data-Driven ABB Smart Hoisting Solution 'is Safety Boon'

Digital Mining

Deep Sea EV Metals Mining Firm in Greenpeace Clash

Sustainability