Aguila American Gold (CVE:AGL) said it received a drill permit by the Ministry of Energy and Mines of Peru on Wednesday as it seeks to advance its Angostura gold project.
is located in Southern Peru. It covers 4,869 hectares and has eight key
mining concessions, with another four concessions in progress. Target
minerals include gold, silver, zinc copper and lead.
The natural resource development company said that it plans to launch a 7,000 metre diamond drill program.
Pre-operation infrastructure is in the final stages, Aguila American Gold said in a statement. It added that a newly built camp will help drilling operations.
Aguila also said it contracted Fugro Ground Geophysics to complete an initial 65.7 line kilometres of induced polarization.
The company said results from the drill campaign and geophysics will
help determine resource areas could be accessed from surface or from
future underground drill stations.
In addition, the company said
Al MacGregor, of More Core Diamond Drilling Services, arrived in Lima,
Peru to oversee the drilling contract.
Shares, in afternoon trade, rose 2.5 cents, or 13.89 per cent, climbing to 20.5 cents each on the TSX Venture Exchange.