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Pure Gold Mining announces permitting milestone at Canada's next gold mine project

The new permit sets out operating conditions relating to air and noise emissions at the mine

Pure Gold Mining, Inc. -
Pure Gold Mining also said it is awaiting an amended Industrial Effluent permit (ECA Industrial Sewage Works)

Pure Gold Mining Inc (CVE:PGM) (LON:PUR) updated investors on Wednesday on the permitting progress at its Red Lake mine in Ontario, which is currently under construction.

The firm said it had received an amended environmental compliance approval (ECA) for air and noise emissions at the PureGold mine from the relevant authority in the Canadian province.  This sets out operating conditions relating to air and noise emissions and ancillary and support processes at a production limit of up to 1,089 tonnes of gold ore processed per day.

READ: Pure Gold Mining hails drill results from underground campaign at Red Lake, which shows potential to expand deposit

"In production, our PureGold Mine is expected to generate over $470 million in direct salaries over the life of the phase 1 mine and will provide significant economic benefits to the local communities and surrounding region through both direct and indirect taxation and expenditures," Darin Labrenz, the president and chief executive at PureGold said in a statement.

"While proud of our rich Red Lake history, we are truly excited about the future as we establish a new, modern mining complex that will provide meaningful employment and be an economic driver for years to come," he added.

The company also said it is awaiting an amended Industrial Effluent permit (ECA Industrial Sewage Works). Initial regulatory review is complete, and the firm has applied for an expedited approval process for this permit amendment, it told investors.

The mine in Red Lake will be Canada's next gold mine and the first gold pour is expected in late 2020. The firm is fully funded to production, mine building began late last year, and 45% of capital expenditure has so far been spent, the company highlighted.

Shares ticked up 0.80% to 126.50p in London.

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Contact the author at giles@proactiveinvestors.com

Quick facts: Pure Gold Mining, Inc.

Price: 2.59 CAD

TSX-V:PGM
Market: TSX-V
Market Cap: $1.01 billion
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Pure Gold releases more impressive drill results from their underground work...

Pure Gold Mining (CVE: PGM- LSE: PUR) CEO Darin Labrenz joined Steve Darling from Proactive to discuss the company’s most recent drill results that show impressive numbers like 46.7 g/t gold over 7.0 metres and 57.0 g/t gold over 1.0 metre. Labrenz telling Proactive about that underground...

on 9/7/20

2 min read