THUNDER BAY, ON, Dec. 17, 2018 /CNW/ - Premier Gold Mines
Limited ("Premier") (TSX: PG) is pleased to announce that
the Environmental Assessment ("EA") for the Hardrock Project (the
"Project") was approved on December 13,
2018 by the Honourable Catherine McKenna, Minister of
Environment and Climate Change. The multi-million
ounce gold mining project, as proposed by Greenstone Gold Mines,
consists of the construction, operation, decommissioning, and
abandonment of an open pit and onsite metal mill located near
Geraldton, in northern
Ontario (see Minister's Decision
Statement).
The decision follows a thorough and science-based environmental
assessment conducted by the Canadian Environmental Assessment
Agency with the participation of Indigenous groups, the public, and
federal departments including Fisheries and Oceans Canada,
Environment and Climate Change Canada, Health Canada, and Natural
Resources Canada. Participating provincial ministries included the
Ministry of the Environment, Conservation and Parks, the Ministry
of Natural Resources and Forestry, and the Ministry of Energy,
Northern Development and Mines.
"The Ministers' approval of the EA is a significant milestone
for the Hardrock Project. Our engagement with representatives of
the local Indigenous communities, local communities and the various
government agencies has been very positive throughout the process
and we look forward to continued advancement of the Project",
stated John Begeman, Executive
Chairman of Premier.
Greenstone Gold Mines (GGM), a 50/50 joint venture between
Premier Gold Mines Limited and Centerra Gold Inc, has worked
closely with Federal and Provincial authorities since initiating
the EA in 2014. Following the collection of baseline environmental
data, GGM submitted a draft EA in February
2016 and the final EA in July
2017. Much of the technical work and consultation carried
out prior to the submission of the final EA helped to facilitate
the timely approval of the federal EA, which confirms that the
Project is not likely to cause significant adverse environmental
effects considering the implementation of key mitigation
measures and follow-up program measures.
The Provincial Ministry EA Review Report was issued for public
comment on October 22, 2018 and
approval is anticipated in Q1 2019. Work on construction permit
applications are well advanced and will be submitted for review
once the federal EA and provincial EA's are approved.
GGM continues work on de-risking and optimizing the Hardrock
Project through 2018, making significant progress in moving the
Project towards a Construction Decision. A Definitive
Agreement with Long Lake #58 First
Nation earlier in 2018 was signed and GGM is currently
negotiating agreements with the other local Indigenous communities.
A grade control drill program was completed on the project to
better understand mineralization of the top three benches of the
mine with the results expected in the Q1 2019. GGM has
also engaged financial advisors to begin the process of identifying
the various financing options that may be available for the
Hardrock Project.
Premier Gold Mines Limited is a gold producer and
respected exploration and development company with a high-quality
pipeline of precious metal projects in proven, accessible and safe
mining jurisdictions in Canada,
the United States, and
Mexico.
This Press Release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward-looking information includes, but
is not limited to, statements about strategic plans, including
future operations, future work programs, capital expenditures,
discovery and production of minerals, price of gold and currency
exchange rates, timing of geological reports and corporate and
technical objectives. Forward-looking information is necessarily
based upon a number of assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking information, including the risks inherent to the
mining industry, adverse economic and market developments and the
risks identified in Premier's annual information form under the
heading "Risk Factors". There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date
hereof and is based upon the opinions and estimates of management
and information available to management as at the date
hereof. Premier disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Premier Gold Mines Limited