Vancouver — Manhattan Minerals (MAN-T) has met with Peruvian government officials in an effort to move its Tambo Grande massive sulphide project forward.
The meeting included the Minister of Energy and Mines, as well as the Minister of Agriculture and paves the way for Manhattan to complete an environmental impact study and a feasibility study over the promising project.
"We are looking for a solution to a complicated issue," said Jaime Quijandria, the Minister of Energy and Mines. "We must honour the contracts that have been entered into and I should clearly state that work cannot be stopped only because people gather in a meeting."
A second meeting is set for the beginning of November to address the issues raised during the first meeting. The Minister of Energy and Mines will be presenting a proposal for an independent review of Manhattan’s environmental impact study, slated to be complete early next year. This independent review process is part of the new model being used by the government to address the issue of credibility and transparency that has been an issue throughout the mining industry in Peru.
Manhattan recently raised $5.4 million to complete a draft environmental impact statement, as well as for community relations activities around the property.
The company ran into local problems earlier this year when a politically motivated group vandalised its project facilities near the town of Tambo Grande. The junior has put the blame on a group whose aim is to disrupt government and industrial activities heading into the Peruvian election. The disruption subsequently force a delay to Manhattan’s objective of completing its feasibility study on the TG-1 deposit, originally expected by June 2001.
At last count, Manhattan has spent US$13.9 million exploring Tambo Grande, and continues to work on the prefeasibility study for the TG-1 oxide gold deposit and the TG-1 and TG-3 sulphide deposits. The company is also exploring the B-5 zone and other geophysical anomalies.
The TG-1 oxide cap contains an inferred resource of 8 million tonnes grading 5.2 grams gold and 48 grams silver. This is equivalent to 1.3 million oz. gold and 12.4 million oz. silver. Further drilling on the underlying TG-1 sulphides expanded the resource to an inferred 64.2 million tonnes grading 1.7% copper and 1.4% zinc, plus 0.7 gram gold and 31 grams silver, based on a cutoff grade of 1% copper-equivalent.
TG-3 lies 500 metres south of TG-1 and consists of two distinct mounds, or lobes, of mineralization. The northern lobe is richer in zinc and contains 20 million tonnes grading 0.9% copper, 2.7% zinc, 0.8 gram gold and 35 grams silver, based on a cutoff grade of 1% copper-equivalent. The copper-enriched southern lobe hosts 48 million tonnes grading 1.1% copper, 1.1% zinc, 0.9 gram gold and 25 grams silver at a cutoff grade of 1% copper-equivalent.
Manhattan is earning a 75% stake in Tambo Grande, which consists of 10 concessions measuring 100 sq. km. The company also has a 100% interest in the 737-sq.-km Lancones concessions and an option to earn up to a 100% interest in the 32-sq.-km Papayo joint-venture lands. The Lancones land package adjoins Tambo Grande mainly to the south and partially to the east and north. The Papayo concessions, which include the B-5 anomaly, are to the south. Manhattan can earn an initial 51% interest in Papayo by spending $5 million on exploration over five years and paying $250,000.
Be the first to comment on "Manhattan talks move forward"