Premier Gold Reports Significant Progress at Trans-Canada
Premier Gold Mines (PG.TSX) announced the receipt of an Environmental Compliance Approval (ECA) and a Permit to Take Water (PTTW) from the Ontario Ministry of the Environment (MOE). This marks an important step for the potential advancement of the Trans-Canada Project. Furthermore, it provides Premier Gold Mines with the ability to de-water and begin Advanced Exploration at the historic MacLeod-Mosher Mine site, which is host to the Company’s Hardrock deposit.
Highlights:
* Premier Gold Mines is in the final stages of updating its resource estimates and has begun to evaluate several development options in advance of making a final decision on the Advanced Exploration program
* The ECA and PTTW lay out conditions which permit the Company to draw water from the MacLeod – Mosher underground workings and then discharge it to the environment in a manner that is highly protective of all aquatic life and that is consistent with the Company’s sustainable development philosophy
* The Trans-Canada Project is host to several past-producing mines which collectively produced more than 4 million ounces of gold from depths within 600 metres of surface between 1938 and 1968
* Trans-Canada benefits from development advantages associated with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines which run through, or in close proximity to the Project
Ewan Downie, President and CEO of Premier Gold Mines:
“Since Premier became involved in the Project, we have been successful in defining significant gold resources, including the discovery of new zones, from surface drilling. In order to fully understand the deposits, the next phase of work is expected to include delineation of these zones from underground.”
Stephen McGibbon, Executive Vice-President of Premier Gold Mines:
“The Hardrock Deposit is one of a select group of gold deposits throughout the world that is situated on a major highway, is surrounded by substantial infrastructure, and is within walking distance of an existing community.”
2012-10-24 11:20:14
Source: http://www.goldalert.com/2012/10/premier-gold-reports-significant-progress-at-trans-canada/
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