UPDATE: Premier Gold Continues To Fall As Gets Environmental Compliance Approval, Permit to Take Water for Ops at Trans-Canada Project

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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 ( ECA ) 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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This article appears in: Investing , Commodities

Referenced Stocks: ECA

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