PORT-AU-PRINCE, Haiti, Dec. 24, 2012 /PRNewswire-iReach/ -- VCS Mining and its wholly owned subsidiary, Delta Societe Miniere S.A. are pleased to announce the awarding of a gold mining exploitation permit issued by the Haitian Government for its Morne Bossa project. This is one of two permits issued today, the first permits of this kind issued in over 5 decades. "We would like to thank President Martelly, Prime Minister Lamothe, and especially the Director General of the Bureau of Mines, Mr. Remarais, for their cooperation, vision and commitment to the development of Haiti's natural resource base," commented VCS CEO Angelo Viard. "The Government's commitment to responsible development of the Country's vast natural resource base will be a major contributor to economic development, employment and the welfare of the Haitian people."
Under Haitian mining law, an Exploitation Permit is valid for five (5) years renewable up to 25 years. If further resources are discovered within the permitted area, the law allows additional renewals for up to 10 years. The Company has a fully compliant NI 43-101 report which has an economically vibrant resource estimate available for exploitation with additional upside to these estimates through further exploration.
Mr. Viard stated, "The first priority of our Government officials was to insure the proper framework for sustainable development of these resources which include environmental protections, and developing the true asset of this nation, its people. We believe our business practices fulfill all official requirements and we look forward to working with national and local officials to create meaningful impact on the people of Haiti through employment, training and other social benefits. Our plan is to strengthen, grow and have a positive impact on the communities where VCS will be involved."
VCS Mining, priorities are straightforward from a development plan:
1) First and foremost; re-assess and update the current Social Economic development plan with its partners to ensure the people will have the first role to play into that development process
2) Working jointly with the government, local government bodies and the people to their best abilities for a successful economic development.
3) Conduct further drillings, assays and metallurgy to evaluate further the depth and width of the current and the remaining area of the property to help increase the value of the deposit and increase the growth return potentials to the government and the people.
4) Conduct an updated environmental assessment based on the World Bank Standards to ensure a safeguarding process is in place to protect our environment and our people.
5) Conduct trainings to ensure the locals are train appropriately to during their participations in the development of the project
Based on the above mention, we believe the company should be in a safe place to consider entering into a commercial production within the next 29 to 38 months.
We strongly believe the mining industry will play a major role in the country's future development; but mining should be structure safely, this is the key reason why we want to ensure a thorough approach will be taken to create a safe environment for our families, our friends, our partners, and our kids to come.
Mr. Viard plans on travelling during and after the holidays to educate investors on the advantages of mining projects in Haiti and expects to bring in capital to VCS to complete the Company's vision of responsible, sustainable development of its permitted areas.
For further information, please go to VCS Mining website, www.vcsmining.com
Media Contact: Angelo Viard, VCS Mining, Inc, 925 588-1919, firstname.lastname@example.org
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE VCS Mining, Inc