VANCOUVER, British Columbia, Aug. 31, 2016 (GLOBE NEWSWIRE) — Amerigo Resources Ltd. (TSX:ARG) (“Amerigo” or the “Company”) is pleased to announce that Minera Valle Central (“MVC”), the Company’s 100% owned operation located near Rancagua Chile, has been awarded the prestigious Premio Nacional de Minería 2016 (2016 National Mining Award) by Chile’s SONAMI (National Mining Society), in the category of Mid-Size Producers. The award is for introducing an innovative business model for the use of mine tailings and for the recent investment which will provide continuity to the operation.
The award was presented to MVC at the annual Mining Gala in Santiago, Chile on August 30, 2016. Rob Henderson, Amerigo’s President and CEO commented, “This award is a testament to the hard work by the team at MVC and we are honoured that MVC has been recognised by SONAMI.”
MVC produces copper concentrates by processing fresh and historic tailings from Codelco’s El Teniente mine in Chile. Amerigo started production from the higher grade Cauquenes historic tailings deposit in September 2015, extending MVC’s life to at least 2037. Production is ramping up to 65 million pounds copper per year with cash cost dropping to less than US$1.70 per pound copper. With future potential expansions to 90 million pounds per year, Amerigo is well-positioned to generate record copper production, decrease cash costs and improve cash flow from operations.
Amerigo Resources Ltd. produces copper and molybdenum under a long term partnership with the world’s largest copper producer, Codelco, by means of processing fresh and historic tailings from the world’s largest underground copper mine, El Teniente, near Santiago, Chile. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX
CONTACT: For further information, please contact: Rob Henderson, President and CEO (604) 697-6203 Aurora Davidson, Executive Vice President and CFO (604) 697-6207