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Friday, 24th November 2006 (5790 views)

Dhanoa Minerals, an exploration stage company currently working in South America, has announced its acquisition of a gold mine in south Ecuador.

The Minera Paraiso gold mine is located in the Azuay region and is 150 km away from the nearest international airport.

It has considerable exploration potential with an existing production totalling 2,000 ounces of gold every month. Dhanoa hopes to up this total to 15,000 ounces per month through infrastructure and technological renovations.

Ecuador is famed for its world class geology and is under explored despite good mining laws and large pools of labour.

Paul Roberts, president of Dhanoa who had just visited the site, said: "We are extremely excited about the prospects of the Paraiso project and the opportunity to acquire such an important asset for Dhanoa in Ecuador, with a large existing gold resource base and the opportunity to significantly increase current production through modernization.

"We continue to evaluate other resource projects in Ecuador and South America."

Aurelian Resources recently made a gold discovery in Ecuador with highlights of 189 metres at a grade of 24 grams of gold per tonne.

 

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