PATAGONIA GOLD ANNOUNCES MINING DEVELOPMENTS IN PROVINCE OF CHUBUT, ARGENTINA
December 17 2021 - 8:22AM
Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC)
announces recent developments related to permitting mining
activities in the Province of Chubut, Argentina. On December 15,
2021, the legislature of the Province of Chubut passed a bill to
amend the provincial mining law to enable open pit mining within a
given area that comprises the Gastre and Telsen Departments. This
new law regarding mining zoning was subsequently promulgated on
December 16, 2021 by the Chubut Governor, Mariano Arcioni.
Patagonia holds approximately 473,485 hectares
(“ha”) (4,735 square kilometers (“kms”)) of mining concessions in
Chubut, which includes a 100% interest in the Mina Angela property.
This newly approved law regarding mining zoning is expected to
enable the Company to advance the development of 101,151 ha of its
mining concessions, including Mina Angela, while the remaining
372,334 ha of its mining concessions in Chubut are outside the area
that is subject to the new zoning law.
The Mina Angela property, which the Company
acquired under an option in March 2021, is located on the northern
border of the Province of Chubut and is secured by 44 tenements
totaling 2,100 ha with historic mine production of over 1.04
million tonnes of material grading 4 grams per tonne (“g/t”) Au and
48 g/t Ag along with base metals including lead, zinc and copper.
Navidad, one of the largest silver deposits in the world owned by
Pan American Silver Corporation, is located 45 kms south of Mina
Angela.
Development of mining activities at Mina Angela and
within the area that is subject to the new zoning law is also
subject to governmental regulatory processes - including the
regulatory decree under the new zoning law to be passed by the
provincial executive branch, which is pending at present - and
subsequent provincial permitting.
Qualified Person’s Statement
Donald J. Birak, an independent geologist,
Registered Member of SME, Fellow of AusIMM and a qualified person
as defined by National Instrument 43-101, has reviewed and approved
the scientific and technical content of this news release.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused,
publicly traded mining company listed on the TSX Venture Exchange.
The Company seeks to grow shareholder value through exploration and
development of gold and silver projects in the Patagonia region of
Argentina. The Company is primarily focused on the Calcatreu
Project in Rio Negro and the development of the Cap-Oeste
underground project. Patagonia, indirectly through its subsidiaries
or under option agreements, has mineral rights to over 420
properties in several provinces of Argentina and Chile and is one
of the largest landholders in the province of Santa Cruz,
Argentina.
For more information, please
contact:Dean StuartT: 403 617 7609E:
dean@boardmarker.net
Christopher van Tienhoven, Chief Executive
OfficerPatagonia Gold CorpT: +54 11 5278 6950E:
cvantienhoven@patagoniagold.com
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking
statements, including, but not limited to, statements with respect
to, among other things, the expectation that the Company will
advance the development of its mining concessions, including Mina
Angela, that are within the area that is subject to the new zoning
law, and that such development remains subject to governmental
processes, including the regulatory decree to be passed by the
provincial executive branch, and provincial permitting, advancement
and development of gold and silver projects in the Patagonia region
of Argentina, and the anticipated growth in shareholder value.
Wherever possible, words such as “may”, “will”, “should”, “could”,
“expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”,
“predict” or “potential” or the negative or other variations of
these words, or similar words or phrases, have been used to
identify these forward-looking statements. These statements reflect
management’s current beliefs and are based on information currently
available to management as at the date hereof.
Forward-looking statements involve significant
risk, uncertainties and assumptions. Many factors could cause
actual results, performance or achievements to differ materially
from the results discussed or implied in the forward-looking
statements. These factors should be considered carefully, and
readers should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management believes to be
reasonable assumptions, the Company cannot assure readers that
actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the
date of this news release, and the Company assumes no obligation to
update or revise them to reflect new events or circumstances,
except as required by law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
- Patagonia Gold News Release Dec 17 2021
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