ECUADOR – Vancouver’s Dynasty Metals & Mining has received the environmental authorization for its Dynasty Goldfield project in Loja state, 160 km southwest of the company’s Zaruma gold mine and mill.
Dynasty must now register information about the number of hectares to be exploited, and it will than receive a mining permit for Dynasty Goldfield. The project is qualified under Ecuador’s small scale mining regulations and subject to a 3% royalty and no windfall tax or need to sign a mining contract with the government.
As a small scale mining operation, Dynasty Goldfield may operate open pits at a rate of 1,000 t/d per concession or a total of 3,000 t/d for the three concessions covered by the project. Resources total 6.9 million measured and indicated tonnes grading 4.6 g/t Au plus 7.8 million inferred tonnes grading 4.4 g/t. There are 1.0 million and 1.1 million oz of gold, respectively, in the resource. There are also almost 18.0 million oz of silver.
The most recent Dynasty Goldfield 43-101 technical report can be found at www.DynastyMining.com.