- Ragusa Minerals (RAS) is one step closer to mining its Lonely Mine Gold Project after receiving environmental approval
- Zimbabwe’s Environmental Management Agency gave the asset the green light, paving the way for operations to begin
- The environmental approval will last for two years and covers the full commercial development of the asset and the Tiberius prospect
- Ragusa is now awaiting assays from recent diamond drilling at the prospect, with results due in coming weeks
- Company shares ended Thursday up 1.1 per cent at 9.2 cents each
Ragusa Minerals (RAS) is one step closer to mining its Lonely Mine Gold Project after receiving environmental approval.
The gold exploration company received Environmental Impact Assessment development approval from Zimbabwe’s Environmental Management Agency.
The agency’s green light for the African asset essentially paves the way for RAS to begin operations at the site in Zimbabwe.
The environmental approval will last for two years and covers the full commercial development of Lonely Mine and the Tiberius prospect.
Ragusa Chairperson Jerko Zuvela said the decision has been welcomed by the company as it considers the nature and scale of the project.
“This is a significant milestone for the potential development of our Lonely Mine Gold Project,” Mr Zuvela said.
The business is now awaiting assays from recent diamond drilling at the prospect, with results due in coming weeks.
Mr Zuvela explained the results would help shape the future of operations at the wider project.
“Together with our recently completed maiden diamond drilling campaign at the high-grade Tiberius prospect, where we look forward to receiving the sample analysis results over coming weeks to assist in determining the scale and nature of our project,” he said.
Ragusa Minerals ended Thursday up 1.1 per cent at 9.2 cents each.