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Cosigo Resources (TSXV:CSG) released an update for its Colombian Machado Project. Cosigo has been granted a forestry reserve subtraction by the Colombian Ministry of Environment. The granting of the subtraction enables the company to move forward in preparation for an initial drilling program on the 9,973 hectare Machado Project.
Cosigo Resources (TSXV:CSG) released an update for its Colombian Machado Project. Cosigo has been granted a forestry reserve subtraction by the Colombian Ministry of Environment. The granting of the subtraction enables the company to move forward in preparation for an initial drilling program on the 9,973 hectare Machado Project.
Though the subtraction is good news for Cosigo, it does come with some restrictions, including a restriction on drilling operations to 45.6 hectares.
Dennis W. Milburn, President and CEO of Cosigo Resources commented:
Despite the strict conditions attached to our initial forestry reserve subtraction, this marks a very significant milestone for the Machado Project. Our Colombian team is eager to get our exploration program started and we will immediately proceed with an application to extend the duration and scope of the subtraction.
Over the last few years, Cosigo has been preparing itself in the event that a rapid mobilization was required. The company has ferried all the necessary equipement to Colombia over the last few years and is currently in a position to commence the drill program.
As quoted in the news release:
Cosigo has sufficient funding to complete its initial drilling program in an environmentally sustainable manner and on a geologically appropriate and logical basis.
Click here to view the full press release.