“This is a massive step for Eco Exploration as we have not previously operated in Peru, and due to the scale of the investment we are making, our administrators need to be totally satisfied prior to moving forward, but I am happy to say that we have now quelled all of the underlying concerns and we are scheduled to commence drilling on the site on Monday 22nd October”.
C.E.O. Mr Andew Davis
The Eastern Cordillera site has for some time been owned by Eco Exploration, and has undergone and passed all required feasibility analyses. Proven provable reserves have been established, with an anticipated cash cost of approximately $308 /oz. This low cash cost is due to the extremely heavily mineralised orogenic deposits, where both gold and quartz veins are present. The grade of gold extracted from these veins has been shown to range from 10 g/t to 70 g/t Au. The site itself lies at a height of 4500 meters, high in the Peruvian Andes and has attracted many other mining companies to the area with gold deposits that are subject to heavy oxidisation causing the ground to become more porous and reducing processing costs. Furthermore, the local area provides excellent transportation access as well as access to an abundantly experienced workforce and equipment. For these reasons Eco Exploration's management are confident that this move will ultimately yield great returns for the company and its shareholders.