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:: Rio Narcea Awards the Feasibility Study to MDM for its Corcoesto Gold Project
It has been announced that Rio Narcea has awarded the feasibility study of its Corcoesto gold project to Metallurgical Design and Management (Pty) Ltd. ("MDM") of South Africa. MDM is currently completing the bankable feasibility study of Rio Narcea's Aguablanca Ni-Cu-PGM project in southwestern Spain. The Corcoesto project is located near the center of the Malpica gold belt in the Galician region of northwestern Spain, approximately 215 kilometers from the El Valle Mine.
MDM is an engineering firm with extensive experience in the design and construction of mineral projects. Some of the gold projects they have worked on include: Morila in Mali, Tarkwa in Ghana, Driefontein and Kalahari Gold in South Africa.
The Corcoesto operation has the potential to produce 30,000 ounces of gold annually from a heap leach operation where the loaded carbon would be transported to the El Valle plant for gold extraction. Metallurgical tests on the clay-free material have resulted in gold recoveries of 76% by heap leach using a crush size of 80% less than 6 millimeters with low reagent consumption. Approval of final environmental and mining permits from the Galician authorities is pending.
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