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Enviro Minister McKenna approves new Ontario gold mine

Wed Aug 21 2019


The Canadian Environmental Assessment Ageny (CEAA) has granted gold exploration and development company Treasury Metals approval for its Goliath gold project, near Dryden, Ontario.


Treasury is planning an initial openpit development to feed a 2 500 t/d processing plant, with subsequent underground operations in the latter years of the 12-year mine life.


The approval was granted by Environment and Climate Change Minister Catherine McKenna earlier this week. Treasury said on Tuesday that it continued to work on completing requirements for final authorisations and permits.


"The Minister's approval of the environmental authorisation is a significant de-risking milestone for the Goliath gold project and our shareholders. The company has made major commitments and efforts to advance the project, and we would like to thank the local communities, the representatives of the local Indigenous communities, the public, and the various government agencies for their work and participation throughout the environmental authorisation,” commented Treasury CEO Greg Ferron.


The proposed project could create up to 450 jobs during construction and 250 jobs during operations over the life of the project.


According to the draft environmental assessment report, Treasury is proposing an openpit and underground gold mine about 20 km east of Dryden, with an ore production capacity of 5 424 t/d. Over 12 years of operations, the average ore production and ore input capacity of the mine and mill would be 2 700 t/d. Ore would be processed on site to produce a final doré bar that would be shipped off site for further refining and upgrading.