Aquaculture for all

Strait Gold Backs Aquaculture Project in Peru

Economics +1 more

PERU - Financial backing from Canadian company, Strait Gold Corporation, has contributed to the opening of an aquaculture facility in Ancoraca, Peru.

Ancoraca is the community closest to the Company's Letra Rumi South copper-silver property and Culebrilla gold-silver property.

The facility (in Spanish a "piscigranja" or, literally, fish-farm) is one of several similar facilities constructed in communities in the highlands of the Peruvian Andes, but the first one in the Department of Ancash. Other parties to the agreement that established the fish-farm are the Regional Government of the Department of Ancash, which also provided technical supervision, and the Municipality of Mato, which encompasses the community of Ancoraca.

Strait Gold contributed approximately $20,000 toward construction of the facility which took three months to build. The official opening of the facility included the introduction of young fish into tanks in September, 2009, where they will mature and be ready for first harvest in May, 2010. The facility is designed to produce 10 tonnes of trout per year.

"We are very pleased to contribute to this project as part of our commitment to responsible community relations," said Strait Gold President Jim Borland.

"This facility provides a low-tech but highly efficient way to supplement the local diet and provide the community with an additional source of income."

When the Company conducted a diamond drill program on the Culebrilla property in 2007, it included in its closure plan a commitment to reclaim paths built to access drill pads. However, shortly after drilling began it became evident that the paths provided access to additional grazing land for local farmers. In consultation with the community and regulatory authorities, the Company agreed to leave the paths intact for the benefit of the community. The Company then allocated funds that had been budgeted for path reclamation to construction of the fish-farm, an adjustment that was essentially cost-neutral to the Company's exploration budget.

The Company also funded training for 15 residents of Ancoraca to operate the facility and committed to ongoing monitoring of the operation during the start-up process.

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