Business
East Asia Minerals Completes Key Requirement of Production License for The Sangihe Gold Project
(via TheNewswire) Vancouver, British Columbia - TheNewswire - September 23, 2019 ...
About this update from Baru Gold Corp
[{"type":"text","content":"East Asia Minerals Completes Key Requirement of Production License for The Sangihe Gold Project(via TheNewswire)\n \n \nVancouver, British Columbia - TheNewswire - September 23, 2019 - East Asia Minerals Corporation (the \"Company\") (TSXV:EAS) (OTCBB:EAIAF) is pleased to announce that further to the news release from September 13, 2019, East Asia Minerals subsidiary, PT. Tambang Mas Sangihe or \"TMS\" (the holder of the Sangihe CoW license) has had its detailed works program & business plan (DWP & BP) approved by Ministry of Energy and Mineral Resources at an open meeting attended by TMS and representatives of both Provincial and Central mines departments. The Ministry of Energy and Mineral Resources and provincial mines department representatives showed strong support and encouragement for the TMS project and confirmed their commitment to the development of the project.\n\n\n \n\n\n\n \nTo complete the license upgrade on our Sangihe project, to Operation Production status, the company must receive approval of the DWP & BP and the completion of the Environmental Impact Assessment meeting (AMDAL) which will authorize the issuance of the environmental permit. \n\n \n \nIn regard of the foregoing filings, the Company is not required to, nor will be filing a supporting technical report with the securities regulator within 45 days of the date of this news release. The Company also cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the \"forward looking statement\" below.\n\n\n \nOnce the AMDAL meeting is held, the remaining open item necessary to have the Operation Production License issued, is the payment of a mining tax (Dead-rent). The license upgrade will enable the East Asia Minerals to begin construction of the gold production facilities and infrastructure for the Sangihe project. \n\n\n \nSangihe Project\n\n\n \nThe Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold as reported in the Comp...