Denarius Metals Announces Approval of Environmental Impact Study for Its Zancudo Project in Colombia; Preparing to Commence Mining Operations; Announces Management Update
Denarius Metals (DNRSF) has received approval of its Environmental Impact Study (EIS) for the Zancudo Project from Corantioquia, Colombia's local environmental authority, enabling the commencement of mining operations. The company expects first production by Q1 end, with its 1,000 tonnes per day processing plant operational in Q2 2025.
In the interim, Denarius has arranged to sell mined material to Soma Gold, which owns the El Limon Mill (225 tpd capacity, permitted for 400 tpd). Processing at El Limon Mill is expected to begin by February end, producing high-grade gold-silver concentrates.
The EIS applies to concession 5521, including the historic Independencia Mine, and covers areas under a Plan of Exploration and Exploitation approved in December 2023. The company also announced leadership changes, with Federico Restrepo-Solano assuming the CEO role while Serafino Iacono remains Executive Chairman.
Denarius Metals (DNRSF) ha ricevuto l'approvazione del suo Studio di Impatto Ambientale (EIS) per il Progetto Zancudo da Corantioquia, l'autorità ambientale locale della Colombia, consentendo l'inizio delle operazioni minerarie. L'azienda prevede di iniziare la produzione entro la fine del primo trimestre, con il suo impianto di lavorazione da 1.000 tonnellate al giorno operativo nel secondo trimestre del 2025.
Nel frattempo, Denarius ha organizzato la vendita del materiale estratto a Soma Gold, che possiede l'El Limon Mill (capacità di 225 tpd, autorizzato per 400 tpd). Il trattamento all'El Limon Mill dovrebbe iniziare entro la fine di febbraio, producendo concentrati di oro e argento di alta qualità.
L'EIS si applica alla concessione 5521, inclusa la storica miniera di Independencia, e copre aree sotto un Piano di Esplorazione e Sfruttamento approvato a dicembre 2023. L'azienda ha inoltre annunciato cambiamenti nella leadership, con Federico Restrepo-Solano che assume il ruolo di CEO mentre Serafino Iacono rimane Presidente Esecutivo.
Denarius Metals (DNRSF) ha recibido la aprobación de su Estudio de Impacto Ambiental (EIS) para el Proyecto Zancudo por parte de Corantioquia, la autoridad ambiental local de Colombia, lo que permite el inicio de las operaciones mineras. La empresa espera iniciar la producción a finales del primer trimestre, con su planta de procesamiento de 1,000 toneladas por día operativa en el segundo trimestre de 2025.
Mientras tanto, Denarius ha organizado la venta del material extraído a Soma Gold, que posee el El Limon Mill (capacidad de 225 tpd, autorizado para 400 tpd). Se espera que el procesamiento en El Limon Mill comience a finales de febrero, produciendo concentrados de oro y plata de alta calidad.
El EIS se aplica a la concesión 5521, que incluye la histórica mina Independencia, y cubre áreas bajo un Plan de Exploración y Explotación aprobado en diciembre de 2023. La empresa también anunció cambios en la dirección, con Federico Restrepo-Solano asumiendo el cargo de CEO, mientras que Serafino Iacono permanece como Presidente Ejecutivo.
Denarius Metals (DNRSF)는 콜롬비아의 지역 환경청인 Corantioquia로부터 잔쿠도 프로젝트에 대한 환경 영향 연구(EIS) 승인을 받아 광산 작업을 시작할 수 있게 되었습니다. 회사는 1분기 말까지 첫 생산을 기대하고 있으며, 2025년 2분기에 하루 1,000톤 처리 능력을 갖춘 플랜트가 가동될 예정입니다.
그 동안 Denarius는 Soma Gold에 채굴된 자재를 판매하기로 했으며, Soma Gold는 엘 리몬 밀(용량 225 tpd, 400 tpd 허가)을 소유하고 있습니다. 엘 리몬 밀에서의 가공은 2월 말에 시작되어 고품질의 금-은 농축물이 생산될 것으로 예상됩니다.
EIS는 역사적인 인디펜덴시아 광산을 포함한 5521 번 양허 권에 적용되며, 2023년 12월에 승인된 탐사 및 개발 계획에 따른 지역을 포함합니다. 또한 회사는 리더십 변경을 발표했으며, 페데리코 레스트레포-솔라노가 CEO 역할을 맡고 세라피노 이아코노가 집행 의장을 유지합니다.
Denarius Metals (DNRSF) a reçu l'approbation de son Étude d'Impact Environnemental (EIS) pour le Projet Zancudo par Corantioquia, l'autorité environnementale locale de Colombie, permettant le commencement des opérations minières. L'entreprise espère une première production d'ici la fin du premier trimestre, avec son usine de traitement de 1 000 tonnes par jour opérationnelle au deuxième trimestre 2025.
En attendant, Denarius a organisé la vente du matériel extrait à Soma Gold, qui possède l'El Limon Mill (capacité de 225 tpd, autorisée pour 400 tpd). Le traitement à l'El Limon Mill devrait commencer d'ici la fin février, produisant des concentrés d'or et d'argent de haute qualité.
L'EIS s'applique à la concession 5521, y compris la mine historique d'Independencia, et couvre des zones sous un Plan d'Exploration et d'Exploitation approuvé en décembre 2023. L'entreprise a également annoncé des changements de direction, avec Federico Restrepo-Solano assumant le rôle de PDG tandis que Serafino Iacono reste Président Exécutif.
Denarius Metals (DNRSF) hat die Genehmigung seiner Umweltverträglichkeitsprüfung (EIS) für das Zancudo-Projekt von Corantioquia, der lokalen Umweltbehörde Kolumbiens, erhalten, was den Beginn der Bergbauaktivitäten ermöglicht. Das Unternehmen erwartet den Produktionsbeginn bis zum Ende des ersten Quartals, mit seinem Verarbeitungswerk mit einer Kapazität von 1.000 Tonnen pro Tag, das im zweiten Quartal 2025 in Betrieb genommen werden soll.
In der Zwischenzeit hat Denarius den Verkauf des abgebauten Materials an Soma Gold arrangiert, das die El Limon Mill (Kapazität 225 tpd, genehmigt für 400 tpd) besitzt. Die Verarbeitung in der El Limon Mill wird voraussichtlich Ende Februar beginnen und hochwertige Gold-Silberkonzentrate produzieren.
Die EIS bezieht sich auf die Konzession 5521, einschließlich der historischen Independencia-Mine, und umfasst Bereiche im Rahmen eines im Dezember 2023 genehmigten Erkundungs- und Ausbeutungsplans. Das Unternehmen gab auch Änderungen in der Führung bekannt, wobei Federico Restrepo-Solano die Rolle des CEO übernimmt, während Serafino Iacono weiterhin Executive Chairman bleibt.
- Received EIS approval enabling immediate mining operations commencement
- Production expected to begin by Q1 2025 end
- 1,000 tpd processing plant to be operational in Q2 2025
- Interim agreement with Soma Gold for material processing starting February 2025
- Strategic separation of Chairman and CEO roles for improved corporate governance
- Initial production dependent on third-party processing facility
- Own processing plant not operational until Q2 2025
Toronto, Ontario--(Newsfile Corp. - January 8, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has received approval of its Environmental Impact Study ("EIS") for the Zancudo Project from Corantioquia, the local environmental authority in Colombia. With the approval of the EIS, the Company is now able to commence mining operations at its Zancudo Project.
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We are excited to reach this very important milestone for our Company. With the EIS approval in hand, we are about to become a mining company with first production expected by the end of this quarter. Our onsite 1,000 tonnes per day ("tpd") processing plant is expected to be ready to commence operations in the second quarter this year. In the meantime, we have arranged to sell material mined at Zancudo to Soma Gold Corp. (TSXV: SOMA) to begin generating production and cash flow. Soma Gold owns the El Limon Mill, located to the north of Aris Mining's Segovia Operations in the Department of Antioquia, which has capacity of 225 tpd and is permitted for up to 400 tpd. The Company and Soma Gold are working together to restart the El Limon Mill, which has been on care and maintenance since 2020. Processing of Zancudo's material at the El Limon Mill to generate high-grade gold-silver concentrates is expected to commence by the end of February. We will provide a more comprehensive outline of the ramp up activities at Zancudo and the results of the 2024 drilling program in due course."
The EIS applies to concession 5521, which includes the historic producing Independencia Mine, for which the Company received approval from the Secretary of Mines of Antioquia in December 2023 of its Mining Technical Work Plan (Programa de Trabajo y Obras or "PTO"). The EIS also applies to the area covered by a Plan of Exploration and Exploitation (Plan Único de Exploración y Explotación or "PUEE") approved in December 2023 by the Secretary of Mines of Antioquia that integrates two other concessions and an exploration license that, along with concession 5521, comprise the Company's Zancudo Project.
Management Update
Denarius Metals also announced that effective immediately, Federico Restrepo-Solano, previously Chief Operating Officer, has assumed the role of Chief Executive Officer and Serafino Iacono remains as Executive Chairman. Messrs. Iacono and Restrepo-Solano will both maintain their positions on the Company's Board of Directors. Patricia Herrera Paba, a director since June 2024, has been appointed to the Compensation, Corporate Governance and Nominating Committee ("CCGNC") to replace Mr. Restrepo-Solano. The Company's CCGNC now comprises Francisco Sole (Chair), Ms. Herrera Paba and Paul Sparkes, all independent directors of the Company. The Company will not be replacing the Chief Operating Officer role.
Mr. Iacono, commented, "We are entering into an exciting growth phase in 2025 with Zancudo and Aguablanca expected to come into operation this year. We believe that the time has come to strengthen our leadership during this growth phase and to improve our corporate governance by separating the Chairman and CEO roles. Mr. Restrepo-Solano has very capably led our efforts in the permitting and development stage of these two near-term producing projects and will continue to provide dedicated focus to the day-to-day execution of our business plans while I focus on the strategy, corporate development, financing and investor relations areas of our Company."
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts. Denarius Metals is commencing production from its Zancudo Project in Colombia in the first quarter of 2025 and expects to commence operations in the next 12 months at the Aguablanca Project in Spain.
In Spain, Denarius Metals owns a
In Colombia, Denarius Metals is commencing operations at its
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including timing and matters related to the commencement of operations at its Zancudo and Aguablanca Projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated April 25, 2024 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236351
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