Auxico Resources Signs Exclusive Operating Agreement and Receives Mining Title Certificate for Minastyc Project in Colombia

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[{"type":"text","content":" MONTREAL, Oct. 4, 2023 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) (OTCQB: AUXIF) (\"Auxico\" or the \"Company\") is pleased to announce that the Minastyc Project, a Company-controlled property, has received a Mining Registration Certificate from the National Mining Agency (\"ANM\" or Agencia Nacional de Minería) as it relates to the property mining title, which secures the Company's rights to the exploration and exploitation of the property until 2040. The Company has furthermore executed an Exclusive Operating Agreement and Security Interest Contract for Future Production with the mining title holder, Mr. Climaco Unda; the execution of these agreements assures the Company's rights to commence production during the mining title transfer period, allowing Auxico to advance an exploitation plan which includes mining key areas of the Minastyc property related to high-grade samples of tin collected during previous work programs. The Security Interest Contract assigns to the Company the rights to perform mining activities and enter into production on the Minastyc property, as well as collateralizes the obligation of Mr. Climaco Unda's assignment of the mining title to Auxico. The Minastyc Project mining title covers a total area of 188 hectares in Puerto Carreño, department of Vichada, Colombia, a prolific critical mineral property with sampled grades up to 62.13% tin, among rare earth elements, tantalum, niobium, and others. The Company has started operational planning for small-scale mining production with the intention to achieve a volume of up to 300 tonnes per month, commencing with Phase 1 (area of 18.4 hectares) production of tin concentrates from targeted high-grade sections of the property delineated through previous sampling programs (refer to Table 1). Pierre Gauthier, President and CEO of Auxico Resources Canada Inc. comments, \"We are very pleased to announce the successful conclusion of the mining title registration process and exclusive operating agreement for the Minastyc Project; having received the right to exploit the property for the next two decades greatly reduces project risk. Miguel Jaramillo in a June 2019 report suggests that economic mineralization can only be validated through bulk sampling, as samples collected in channel sampling are not of sufficient size to detect t...

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