Home | Business News | Browse by Publication | N | NotiCen: Central American & Caribbean Affairs

LOCAL COMMUNITIES IN EL SALVADOR FIGHT GOLD MINING.

Article Excerpt
The community of San Jose Las Flores in Chalatenango, El Salvador, is sitting on a gold mine. The discovery of the metal beneath their feet is seen by most here as a disaster in the making, however, and they want no part of it. The Canadian company Au Martinique has other ideas. The company has announced it has obtained a new license to find and mine the stuff. Au Martinique president Paul Pitman said from his headquarters in Brampton, Ontario, that a rock-sampling program has been completed, and they are now about the business of working out details with another company, Intrepid Minerals Corporation, whereby Au Martinique Silver Inc. will have a 50% interest in all licenses.

Au Martinique holds exploration licenses in several large tracts. One, of about 15 sq km, has been identified in a stream-sediment survey as having gold values of 3 grams per ton (3g/t), and two others, measuring 29.75 sq km and 15 sq km, have been acquired. Together, the joint venture between the two companies holds rights to 149.45 sq km in the area. Gold values are highly variable within the area, from trace amounts up to 52.2 g/t.

The company's announcement is rich in technical details, the upshot of which is that the work to date "suggests that...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!