10:26 AM EDT, 09/03/2024 (MT Newswires) -- Patagonia Gold ( HGLD ) said Tuesday that its Calcatreu project in Argentina secured support from various stakeholders within the Rio Negro province.

Patagonia Gold's ( HGLD ) share price jumped 20% to $0.03 at last look on the TSXV following the news.

The company said a multidisciplinary environmental council issued a unanimous decision in favor of the project following positive recommendations from the secretariat of mining and the secretariat of environment and climate change of Rio Negro, as well as support from the closest neighboring native community.

Patagonia Gold ( HGLD ) said the next and last step in the approval process is a final resolution to be issued by the province's secretariat of environment and climate change that would formally grant the permit to construct and develop Calcatreu.

This final resolution is expected to be issued within the next two months, the company said.