Gold Resource secures final mining permit for Alta Gracia
Gold Resource Corp announced earlier it has received the final mine permit to begin development and production from its Oaxaca Mining Unit's Alta Gracia project. "With the final Alta Gracia mine permit now in hand, the company is rapidly moving forward with a goal of drawing first mineral by year-end 2016 or 1Q17. The company expects development time at Alta Gracia to be rapid, as the existing historic mine infrastructure can be leveraged and improved... Oxide mineralization from Alta Gracia is expected to be trucked to and processed in the Aguila Mill's currently idle agitated leach circuit. Initial mining rates target 100-200 tonnes per day and an initial mill processing rate of 150 tonnes per day. The Alta Gracia mine has the potential to increase the company's future annual silver production by approximately 500,000 silver ounces and 1,000 gold ounces," said Gold Resource.