OTCQX:DMMIF - Post by User
Post by
highperon Jul 23, 2018 1:13am
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Post# 28351413
i don't know if this will help core in the short term
i don't know if this will help core in the short term https://globenewswire.com/news-release/2018/07/16/1537553/0/en/New-Ecuadorian-Government-policy-announced-that-could-pave-way-for-drilling-to-begin-earlier-at-Bramaderos-project-in-Ecuador.html
an initiative by the Ecuadorian government to allow for “scout (reconnaissance) drilling” within exploration concessions. The initiative was announced by a representative of the Ecuadorian Ministry of Energy and Non-Renewable Natural Resources (MERNNR) during a presentation on July 10th at the “Investing in LATAM Mining Summit” in Santiago, Chile. The representative said that as part of the initiative, MERNNR was studying a proposal that would allow scout drilling to take place on exploration concessions during the 4-year Initial Exploration Phase through a simplified permitting process.
According to the slide presentation of the MERNNR representative (bullets translated from the Spanish), the technical and environmental advantages of scout drilling are:
Technical Advantages
- Greater certainty of subsoil geological information
- Identification of mineral deposits in the initial exploration phase
- Increase in employment and investment in the first four years of mineral exploration
- Accelerated change to the advanced exploration phase
- Opportunity for the concession holder to obtain greater investment for the development of the mining project
Environmental Advantages
- Number of permitted drill platforms depending on environmental sensitivity of area: maximum of 40 platforms per concession, and 20 platforms in highly environmentally sensitive areas
- Expedited administrative process (environmental “registration” as opposed to “license”)