NR
Erin Ventures expands Ceibo Chico mining licence
2007-09-17 12:00 ET - News Release
Mr. Blake Fallis reports
GOLD MINING LICENSE EXPANDED
The Belizean Ministry of Mining has recently granted an extension to Erin Ventures Inc.'s existing mining licence on the Ceibo Chico gold property. The mining licence now covers a total of 160.25 hectares (396 acres), including the 37.2 hectares (92 acres) previously granted. This expansion ensures that Erin has exclusive mining rights to 100 per cent of the land that comprises the Fan area of the Ceibo Chico Creek drainage system. Additionally, Erin holds four contiguous, exclusive prospecting licences covering approximately 34 square kilometres (13 square miles), containing what is believed to be the host source of the residual gold found within the drainage system.
Details of the amended mining licence are as follows:
The licence was issued Sept. 11, 2007.
It covers a total of 160.25 hectares (396 acres).
The licence has a five-year term and is renewable.
It allows for the mining and processing of the alluvials.
It includes the rights for open-pit or underground mining of any lode deposit on approval of detailed mining plans.
Bonding requirements have been increased to $10,000 (Belizean) ($5,000 (U.S.)) from the previous amount of $5,000 (Belizean) ($2,500 (U.S.)).