Premier Gold Mines Ltd (PG.TO), which fell 3.5% yesterday, is
down another 1% today as it announced receipt of an Environmental
Compliance Approval (
) and a Permit to Take Water (PTTW) from the Ontario Ministry of
the Environment (MOE). It said this latest milestone is a
significant step for the potential advancement of the Trans-Canada
Project (TRP.TO) and provides Premier with the ability to de-water
and commence Advanced Exploration at the historic MacLeod-Mosher
Mine site, which is host to the company's Hardrock deposit. The
company is in the final stages of updating its resource estimates
and has started evaluating various development options in advance
of making a final decision on the Advanced Exploration program.
The ECA and PTTW set out conditions which allow the company to
draw water from the MacLeod-Mosher underground workings and then
discharge it to the environment in a manner that is protective of
all aquatic life and that is consistent with the company's
sustainable development philosophy.
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