Grant of Planning Permission

RNS Number : 3721W

Scotgold Resources Ltd

08 February 2017

 

SCOTGOLD RESOURCES LIMITED

Grant of Planning Permission for Extension to Bulk Processing Trial ("BPT") to 31 March 2018

The Company is pleased to announce that the application made to the Loch Lomond and Trossachs National Park Planning Authority ("LLTNPPA") to extend BPT operations to the end of March 2018, as announced on 13 December 2016, was granted on 7^th February 2017.

The original BPT planning permission (2016/0064/DET) granted in May 2016 included the installation of a small scale pilot plant to process 2,400t (approximately 1,200m3) of existing stockpiled ore over a nine month period. It is now planned to process around 4,800t (c.2,400m3) of additional material (the balance of the existing stockpile) over a period of approximately twelve months (at processing rate of around 400tpm).

As a result of the opportunities identified during the BPT, the development plan contemplated in the August 2015 Bankable Feasibility Study (BFS) is currently being revised and an updated economic assessment of the Cononish Gold and Silver Project is expected to be completed by the end of the first quarter 2017.

Richard Gray, CEO of Scotgold, commented:

 "We continue to learn more about the metallurgy and the economics of the project as we process our stockpile under the BPT. This extension to the trial period not only affords us the opportunity to conclude our revisions to the economic assessment  but it also throws off a small cash contribution to our costs from the resultant gold production."

For further information please contact:

Scotgold Resources Limited	Stockdale Securities Limited	Capital Markets Consultants	Vicarage Capital Limited
Richard Gray - CEO	Robert Finlay/  Ed Thomas	Simon Rothschild	Rupert Williams
Tel: [phone]	Tel: [phone]	Tel [phone]	Tel: [phone]

 

END

 

 

MSCBSGDDBUGBGRI