Mining Americas Inc. has secured the key environmental and land use permits required to advance its 100%-owned Cerro de Oro open pit, heap leach gold project in northern Zacatecas State, Mexico.

The Mexican Federal Environmental Department approved the land use change and the environmental impact assessment for the project. Following payments to ratify the land use change, Mining Americas will begin planning the advancement of Cerro de Oro toward a construction decision.

Detailed engineering and mine designs will be evaluated in the context of current elevated gold prices. In addition, the company is planning a drill program to test the depth extents of the deposit below the current resource depth of approximately 130 metres and provide material for metallurgical testwork optimization studies. While historical drilling evaluated oxidation depths in excess of 70 to 80 metres, mineralization remains open at depth.

“Receiving these key permit approvals for our Cerro do Oro project is a momentous occasion and the culmination of years' worth of diligent work by the Mexican permitting authorities, our team, and our permitting advisors. This provides a clear path for a significant increase in our gold production over the medium term. With these permits now approved, we will start planning the advancement of Cerro de Oro towards a construction decision. Cerro de Oro was shown to be a robust, open pit, heap leach gold project at a base case gold price of US$1,600 per ounce based on the 2023 PEA. We are excited to now evaluate the project in the context of significantly higher gold prices and their potential positive impacts to both the size and economics of the Project.

With Cerro de Oro permits approved, we now have key permits in place for all our cornerstone growth projects including the construction-stage Copperstone underground gold project in Arizona and the Gold Rock open pit heap leach project adjacent to the producing Pan mine. We look forward to continuing to advance construction at Copperstone, making a construction decision for Gold Rock later this year, and progressing Cerro de Oro to a potential construction decision in 2027.”

— Darren Blasutti, CEO

Read the full announcement: Mining Americas Announces Key Permit Approvals for Development of the Cerro de Oro Project in Northern Zacatecas, Mexico