American active at San Gregorio

With development permits in hand, American Resource (USOTC) is proceeding with engineering work on its San Gregorio gold project in Uruguay.

The contract will entail fine-tuning the open-pit plan, developing the site layout plan and establishing design criteria.

The deposit is hosted within an east-west-trending volcanic belt found in the northern part of the country. Based on more than 39,000 ft. of reverse circulation and diamond drilling, the deposit is projected to have minable reserves exceeding 360,000 oz. These reserves are expected to support a 90,000-ton-per-year open-pit operation, which would yield 70,000 oz. annually.