Petaquilla

Petaquilla Molejon is set to produce about 100,000 ounces of gold-equivalent ore annually over an 8-to-10-year mine life

The Petaquilla mining district returned to the front-burner status during the presidential tenure of Omar Torrijos’s son, Martin. When Martin Torrijos’s Democratic Revolutionary Party was turned out of office during the 2009 elections after a peaceful term (executives may not succeed themselves), it was replaced by the even more pro-mining Democratic Change Party, of which PTQ’s Richard Fifer was a founding member. As part of current President Ricardo Martinelli’s cabinet, Henriquez has been charged with making Panama the first Central American country to achieve First World status.

“Israel has done it, Brazil has done it. We will do it, too” he said.

Molejon is set to produce about 100,000 ounces of gold-equivalent ore annually over an 8-to-10-year mine life, which could be extended should preliminary laboratory successes in recovering gold from the muddy saprolite overburden prove up in the field. You can’t run gold-enriched mud through a jaw-crusher or a ball mill, but you can pelletize it with concrete and extract the yellow metal in a column with the right reagents. Mill capacity, currently at 2,200 tpd, is being expanded to 3,000 tpd, with a future second phase to 5,000 tpd from its existing foundations.

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