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Rio2 says EIA for its Fenix gold project in Chile is not approved

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(Kitco News) - Rio2 (TSXV: RIO) said today that the Regional Evaluation Commission which includes 12 governmental institutions has voted for not approving the Environmental Impact Assessment ("EIA”) for its Fenix gold project in Chile.

According to the company's statement, following this decision, it will work on evaluating its options and decide on an action plan. Once the action plan is completed, the company will announce how it intends to execute it and provide the revised timeline.

Rio2 noted that its Chilean subsidiary, Fenix Gold remains with the conviction that it has provided enough technical information and studies to obtain a favorable EIA decision.

"The Fenix gold project is an example of modern gold mining where a full complement of technical, environmental, and social considerations have been consulted on and designed in from the outset,” the company said in its press-release.

Rio2 pointed out that the mine being contemplated as a run-of-mine heap leach operation, no crushing or tailings storage facilities are required thereby minimizing the overall impact and footprint of the project. 

The company indicated it is focused on taking its Fenix gold project in Chile to production in the shortest possible timeframe based on a staged development strategy.

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