Finally partially updated, looks like someone turn the lights on in the office. We might hear more soon.
Iberia
Spain
Lomero-Poyatos
Petaquilla Minerals Ltd. added the Lomero-Poyatos Project to its holdings through its acquisition of Iberian Resources Corp. in 2011. The Lomero-Poyatos massive sulphide deposit is located in the prolific Iberian Pyrite Belt, which has a long history of mining dating back to Roman times and features several mines currently in operation. The project is located in the Andalusia autonomous community in southern Spain, about 500 kilometres southwest of Madrid, 85 kilometres northwest of Seville and 60 kilometres northeast of Huelva. The area surrounding the project features very good infrastructure and logistics with grid power, sealed roads and a deep water port at Huelva.
The concession of Lomero-Poyatos at present is in full effect. Administrative initiatives taken by the Directorate of Mineral Resources of Andalusia are in the process of review to determine their merit. This initial review is also subject to appeal.
NI 43-101-compliant Inferred Mineral Resource report by Behre Dolbear in May 2012 (*)
The Lomero-Poyatos mine historically produced approximately 2.6 Mt of pyrite ore, mostly by underground mining methods, for use as sulphuric acid feedstock. It has been closed for over 20 years.
Lomero-Poyatos project highlights:
Resource
Lomero-Poyatos property has an Inferred Mineral Resource of 6.07 Mt at 4.25 g/t Au, 88.74 g/t Ag, as per May 2012 NI 43-101 compliant Technical Report(*)
PTQ has completed over 6,000 meters of drilling to update the currently inferred resources to measured and indicated resources and then advance to reserves level. This drilling was done for geotechnical purposes, metallurgy, in fill drilling, twinning and resource expansion.
Twin drilling program completed in February 2013 with a view to upgrading resources to the Measured & Indicated category in FY 2015 and, subsequently, a NI 43-101-compliant feasibility study
(*) 1.17M Au equivalent oz. as per NI 43-101 Technical Report on the Lomero-Poyatos Au-Cu-Pb-Zn Mine dated May 21, 2012, by independent consultants, Behre Dolbear International Limited. Disclosure approved by Andrew J. Ramcharan P.Eng., the Company's Executive VP Corporate Development, a Qualified Person as defined under NI 43-101.
San Telmo
The Company is moving forward with the San Telmo project, where it proposes a work program defined by geophysical and drilling operations in the first quarter of fiscal year 2015 (third quarter calendar year). San Telmo was historically mined for principally zinc and some gold credits in the 1960s. Testing has shown gold potential in the tailings as well as the existing galleries from previous mining operations. This systematic testing is to be carried out in conjunction with the geophysical and drilling operations.
Portugal
Banjas
The Company holds an initial production license to produce up to 30,000 ounces during the first phase. This initial production is slated to begin in the first half of 2015. The results of this initial production will lay the groundwork for a 30-year license, the next step in regulatory process. Financing is well under way with the initiatives in advanced due diligence.
Jales
17,000 meters of drilling have been carried out in a joint venture with government-owned Mining Development Company (EDM), of Portugal. This drilling is being assayed and evaluated. The results will be recorded during the 2nd quarter of fiscal year 2015 (4th quarter of calendar year 2015). The drilling program is ongoing.
Financing is moving forward on the Spain and Portugal operations and in the first quarter of the fiscal year 2015 when it is projected to be implemented.
AI
