Premier Gold Mines of Thunder Bay has received provincial approval to begin
dewatering a past producing gold mine in the Geraldton-Beardmore area
of northwestern Ontario.
The company announced Oct. 24 that it has
received an Environmental Compliance Approval (ECA) and a Permit to
Take Water (PTTW) from the Ministry of the Environment.
The junior miner said this represents a major step towards advancing its
Trans-Canada Project 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
Premier 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 an advanced exploration
"The approvals will facilitate a timely advanced
exploration program and positions Premier to potentially reach its
ultimate objective of converting Trans-Canada into a producing asset"
stated Ewan Downie, company president-CEO in a statement.
The Trans-Canada project package consists of a stable of past-producing
mines which collectively produced more than 4 million ounces of gold
from depths within 600 metres of surface between 1938 and 1968.
The company recently raised $64 million through a public offering of
common and flow-through common shares. The funds are earmarked for
exploration and development activites, to repay indebtedness and
general working capital.