Patagonia Gold Corp. HGLD / PGDC Receives Full and Final Permit to Advance with the Construction and Development of Calcatreu
Calcatreu Gold and Silver Project: high-grade, near-surface resource within a massive potential epithermal vein system ? M&I: 746K oz AuEq at 2.36g/t AuEq
? Inf.:390K oz AuEq at 1.50g/t AuEq - Identified11 significant veinsystems ? Baseline Study in progress
Calcatreu Project HGLD / TSXV:PGDC - • 41,800 ha property (100% interest) located ~80 km southwest of the town of Jacobacci in south central Rio Negro Province ? Easily accessible through highway with access to key regional infrastructure (rail, power and skilled labour)
• Lies on the Somuncura Massif along the Gastre Fault System, a highly prospective NW-SE-oriented belt hosting many precious metal deposits across Chubut and Rio Negro ? Company has recently acquired over 100,000 ha along this belt
• High-grade, low sulphidation, epithermal gold-silver system ? Gold-silver mineralization outcrops from surface and is contained in quartz and calcite veins and stockwork between 1 m to 5 m in width
• At least 11 significant vein systems across the property ? Vein 49, Nelson and Belen zones contained within a 2.5 km by 500 m area. Castro Sur contained within an area of 1.7 km by 100 m ? Most advanced is the Vein 49/Nelson system, which has been delineated over a 2.5 km strike with widths of up to 20 m ? Mineralization extends to depth of at least 370 m
• Identified new epithermal veins less than 0.5 km from Calcatreu's current mineral resources
• Advancing towards feasibility study in 2022/2023.
VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) --
Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to announce the granting of the full and final permit to advance with the construction, mining development and production at its Calcatreu gold and silver project, in the Rio Negro province, Argentina.
On November 6, 2024, the Company was formally notified by the Rio Negro provincial authorities that the final resolution to proceed with the construction, development and production of the Calcatreu project had been issued.
The Company is completing studies with the aim of developing a heap leach operation to produce gold and silver doré at the Calcatreu project. The Company has ample experience with heap leach operations, having put two heap leach operations into production over the last decade.
Calcatreu is located in the southern portion of the Rio Negro Province, 85 kilometers south of the community of Ingeniero Jacobacci. The project is centered on a low sulfidation, epithermal gold and silver system with mineralization outcropping at the surface. The total measured and indicated mineral resources are estimated at 9.84 million tonnes at an average grade 2.11 g/t Au and 19.8 g/t Ag and 8.08 million tonnes of inferred mineral resources grading 1.34 g/t Au and 13.1 g/t Ag as disclosed in the project’s Technical Report (Table 1).
Table 1. Calcatreu Mineral Resources
Mineral Resource Classification Tonnes (K) Average Grades (g/t) Contained Ounces (K) Au Ag Au Ag Indicated 9,841.0 2.11 19.8 669.0 6,275.0 Inferred 8,078.0 1.34 13.1 215.0 5,467.0
Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.
Additional information about the project and the mineral resources referred to in this news release are available in the technical report prepared in accordance with National Instrument 43-101, entitled “NI 43-101 Technical Report, Mineral Resource Estimate, Calcatreu Gold-Silver Project, Rio Negro Province, Argentina,” dated effective December 31, 2018 (the “ Technical Report ”), which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca .
Patagonia Gold Corp. is a South America focused, publicly traded, mining company HGLD also 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 430 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer Patagonia Gold Corp. T: +54 11 5278 6950 E: cvantienhoven@patagoniagold.com
Market Data 
Markets 
AI
