Vancouver —
The meetings, which include Mines Minister Jaime Quijandria, pave the way for the junior to complete environmental impact and feasibility studies.
The EIS will undergo an independent review, in keeping with the government’s policy of ensuring credibility and transparency.
Manhattan recently raised $5.4 million to complete the draft EIS and strengthen “community relations.”
Earlier this year, a politically motivated group vandalized the project. Manhattan attributes the incident to a group intent on disrupting government and industrial activities in the runup to a national election. The disruption forced Manhattan to delay its feasibility study on the TG-1 oxide gold deposit, originally expected by June 2001.
At last count, Manhattan had spent US$13.9 million exploring Tambo Grande, and it continues to perform prefeasibility work on the TG-1 oxides and on the TG-1 and TG-3 sulphide deposits. The company is also exploring the B-5 zone, among 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, equivalent to 1.3 million oz. gold and 12.4 million oz. silver. Drilling on the underlying TG-1 sulphides has 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. The figure is based on a cutoff grade of 1% copper-equivalent.
TG-3 is 500 metres south of TG-1 and consists of two distinct lobes of mineralization. The northern lobe 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, whereas the copper-enriched southern lobe hosts 48 million tonnes of 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.
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