Georgian Mining Corporation (LON: GEO), the AIM listed copper-gold exploration and development company, has today announced that the Georgian Government Resolution on the Company’s pending exploration permit was included in a cabinet meeting at the end of December 2018, immediately before the Government went to recess for the festive season.
Mike Struthers, Chief Executive Officer said:
“We’re pleased the Resolution on the exploration permit was finally addressed at a Government session. During the meeting there were minor points for clarification raised with the Mining Agency, which were satisfactorily addressed and we are now awaiting the final approval. It is our understanding that all of the Ministries have responded positively and there continues to be strong support for the application.
We look forward to updating the market when we have further news.”
Georgian Mining Corporation has 50% ownership of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi concession covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which will advance to Feasibility Study in the next phase. These projects are proximal to existing mining operations owned by the Company’s joint venture partner, and their sister production company. Georgia has an established mining code and is a jurisdiction open to foreign direct investment.
