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Anfield Gold secures permits to start Coringa project construction

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Anfield Gold secures permits to start Coringa project construction

Anfield Gold Corp. said Aug. 14 that it secured the license of operation for exploration and trial mining, vegetation suppression permit and fauna capture permit for its Coringa gold project in Brazil, allowing the company to start construction activities at the property.

While the company anticipates that all construction activities at Coringa could be completed in nine to 12 months from a positive construction decision, Anfield said it is still considering financing alternatives while continuing to advance the project to a construction decision.

The next stage of the project's permitting process is the issuance of the trial mining licenses, which Anfield expects to receive within the projected timeline for Coringa's construction. The licenses will authorize the company to commercialize production from Coringa and will allow for mill feed processing of up to 50,000 tonnes of ore per year.

According to Anfield, it also continues to make progress in several other areas relating to the development of Coringa, with applications for water and tailings storage permits nearing completion.

Talks are also ongoing for long-term land access agreements, and the company is planning to submit the project's environmental impact study before the end of the year, initiating the permitting process for the operation license that would allow Coringa to operate at its planned mill feed capacity of approximately 460 tonnes of ore per day.

The project's feasibility study, released in July, estimated initial CapEx of US$28.8 million, including US$2.0 million for contingency, plus working capital of US$1.5 million.