Richard Fifer Site – The Government of Panama highlighted that Molejon will be the country’s first mining project of modern times
Petaquilla Minerals Ltd.
TSX: PTQ
OTC Bulletin Board: PTQMF
FRANKFURT: P7Z
Nov 18, 2009 09:25 ET
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 18, 2009) – Petaquilla Minerals Ltd. (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) (“Petaquilla” or the “Company”) is pleased to announce that the Government of the Republic of Panama has granted approval for Petaquilla’s Molejon gold mine to advance to the commercial production stage.
In accordance with Contract Law No. 9 of February 26, 1997, the Ministry of Commerce and Industry of the Government of Panama issued a letter to the Company dated November 18, 2009, authorizing Petaquilla’s subsidiary, Petaquilla Gold, S.A., to initiate commercial production at its Molejon gold mine located in the District of Donoso, Province of Colon, Republic of Panama.
The Government of Panama highlighted that Molejon will be the country’s first mining project of modern times and encouraged the Company to maintain its highest standards of responsible mining as it leads the way to a socially and environmentally conscious mining industry in Panama.
The Molejon gold mine is currently in its final stages of full commissioning. Since testing of production commenced resulting in the Company’s first gold pour on April 7, 2009, the mine has produced a total of 25,699 ounces of gold.
About Petaquilla Minerals Ltd. – Petaquilla Minerals Ltd. is an emerging gold producer commissioning the operation of its gold processing plant at its 100% owned Molejon Gold Project. Anticipated throughput for the project during the first year of commercial production is estimated to be 2200 tonnes per day. The plant utilizes three ball mills and a carbon-in-pulp processing facility.
On behalf of the Board of Directors of PETAQUILLA MINERALS LTD.
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