21:24:28 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Pure Gold Mining Inc
Symbol PGM
Shares Issued 384,935,947
Close 2020-07-21 C$ 2.15
Market Cap C$ 827,612,286
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Pure Gold receives ECA for air, noise emissions

2020-07-22 06:57 ET - News Release

Mr. Darin Labrenz reports

PUREGOLD RED LAKE MINE ACHIEVES PERMITTING MILESTONE

The Ontario Ministry of the Environment, Conservation and Parks (MECP) has approved and issued an amended environmental compliance approval (ECA) for air and noise emissions at the Pure Gold mine, located in Red Lake, Ont.

The amended ECA sets out operating conditions relating to air and noise emissions for the Pure Gold mining and milling operations, including all ancillary and support processes and activities, at a production limit of up to 1,089 tonnes of gold ore processed per day.

The company now awaits receipt of an amended industrial effluent permit (ECA industrial sewage works). Initial regulatory review is complete, and the company has applied for an expedited approval process for this permit amendment.

"I am exceptionally proud of the tremendous groundwork our team has completed to establish the foundation of a long-life mining company in Red Lake," said Darin Labrenz, president and chief executive officer of Pure Gold. "Since first acquiring the project, we have worked very closely with the first nations, local communities and regulators to materially advance the project and to transform a brownfields site into a sustainable modern mine. To date, our work has clearly established a robust, scalable mining operation, while concurrently improving the surrounding environment through the progressive removal and reclamation of legacy works. In production, our Pure Gold 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. 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."

About Pure Gold Mining Inc.

The Pure Gold Red Lake mine is Canada's next gold mine. Fully financed, the project is on track to deliver near-term gold production into a rising Canadian gold price environment, with first production scheduled for late 2020. The orebody is situated within a seven-kilometre-long gold system that is wide open for expansion at depth and along strike, and multiple discoveries by the company suggest potential opportunities for near-term growth.

We seek Safe Harbor.

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