Auryx Gold gets more exploration licences

THE Ministry of Mines and Energy has granted Canadian-based company Auryx Gold Corp five new Exclusive Prospecting Licences (EPLs), covering approximately 500 000 hectares.

According to its website on Wednesday, Auryx now has 11 EPLs, covering approximately 900 000 ha, an area more than 11 times the size of New York City.Auryx has a 100 per cent interest in all of the new licences except one, in which case the interest is 92 per cent.Auryx’s chief executive officer, Tim Searcy, said in a statement the granting of these licences is significant because it confirms Government’s undertaking that no pre-existing EPL applications will be affected by the proposed change to grant exclusive exploration and mining rights to State-owned Epangelo Mining.Searcy said the view of Auryx’s management is that the proposed changes to policy will have no or limited impact on Auryx’s business, going forward.’We welcome the Government’s stance on existing tenure, and believe this demonstrates the Namibian Government’s appreciation of foreign investment, and their intent to manage natural resources pragmatically,’ he said.Auryx has been granted a 92 per cent interest in EPL 4309, with the company’s local partner, EVi Mining Ltd, having an eight per cent interest.EPL 4309 is part of the Otjikoto-Otavi exploration project.It borders Auryx’s main licence, EPL 2410, that is 25 km south of Auryx’s Otjikoto gold deposit, and like EPL 2410, it is bisected by the paved highway B1 and the Walvis Bay-to-Tsumeb rail line. – Nampa

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