Troilus Kicks Off Environmental Permitting Process With Filing of Initial Project Notice
May 25 2022 - 6:00AM
Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the
“Company”) is pleased to announce that it has filed the Initial
Project Description for the Troilus Project with the Impact
Assessment Agency of Canada (“IAAC”) at the Federal level and the
Project Notice with the Ministère de l’Environnement et de la Lutte
contre les Changements Climatiques (MELCC) at the Quebec Provincial
level. The filing of the Initial Project Description and the
Project Notice are the first step in the Environmental and Social
Impact Assessments (“ESIA”), approval of which are required under
Canadian and Quebec law in order for a mining project to proceed to
construction and into production. The ESIA assesses the
environmental, social and economic impacts of a proposed mining
project and includes extensive consultations with local
stakeholders, and in particular First Nations.
Justin Reid, CEO and
Director of Troilus commented, “The start of the environmental
permitting process moves us another significant step closer to a
potential restart of the Troilus mine. The advancement of work on
the upcoming Pre-Feasibility Study goes hand-in-hand with the
filing of the Initial Project Description and Project Notice since
we are now in the position to define with a greater degree of
detail and certainty what the Troilus Project could look like in
the future. We can now invite stakeholders to provide their input
to ensure that any potential future operation meets the
expectations of all involved from an environmental and social
perspective. We look forward to collaborating with our stakeholders
and government regulators as we advance through the environmental
permitting process.”
Jacqueline Leroux,
Vice President Environment at Troilus added, “Although the filing
of the Initial Project Notice and the Project Description mark the
first official step in the permitting process, in fact our team has
been working hard behind the scenes in preparation for this event
for the last couple of years. This has included environmental
baseline studies that consider the physical environment and
biodiversity around the mine site over the different seasons,
pre-consultation sessions with our local communities to identify
priority issues and establishing important working relationships
with government and community stakeholders. Since Troilus is also a
closed mine site, having been in production from 1996 to 2010, we
have a unique opportunity to benefit from the experience gained in
the past and as we look ahead we can incorporate First Nations
knowledge of the land into our planning and design that will help
us minimize and mitigate any future environmental impacts.”
At the Federal level,
the filing of the Initial Project Notice marks the start of the
“Planning Phase”, during which the IAAC will invite members of the
public and Indigenous peoples to provide comment on the focus and
priorities of the ESIA and contribute to planning. The Planning
Phases is expected to take 180 days to complete and will result in
a set of guidelines for Troilus to follow in preparing the ESIA. At
the Provincial level, MELCC will refer the Initial Project Notice
to le Comité d’évaluation des répercussions sur
l’environnement et le milieu social (“COMEV”) to assess the
Project’s impact and provide guidelines for the ESIA, which are
expected within 30 days. Since approval is required at both the
federal and provincial level, Troilus will essentially be running a
concurrent dual assessment process which will result in two ESIA
reports to address the concerns and priorities at each level of
government.
Figure 1 –
Major Components and Sequence for Permitting a Mine in
Quebec: https://www.globenewswire.com/NewsRoom/AttachmentNg/819bd165-27be-40ef-9cab-9a807bc76dd6
About Troilus
Gold Corp.
Troilus Gold Corp. is
a Canadian-based junior mining company focused on the systematic
advancement and de-risking of the former gold and copper Troilus
Mine towards production. From 1996 to 2010, the Troilus Mine
produced +2 million ounces of gold and nearly 70,000 tonnes of
copper. Troilus is located in the top-rated mining jurisdiction of
Quebec, Canada, where is holds a strategic land position of 1,420
km² in the Frôtet-Evans Greenstone Belt. Since acquiring the
project in 2017, ongoing exploration success has demonstrated the
tremendous scale potential of the gold system on the property with
significant mineral resource growth. The Company is advancing
engineering studies following the completion of a robust PEA in
2020, which demonstrated the potential for the Troilus project to
become a top-ranked gold and copper producing asset in Canada. Led
by an experienced team with a track-record of successful mine
development, Troilus is positioned to become a cornerstone project
in North America.
For more information:
Caroline ArsenaultVP Corporate Communications+1
(647) 407-7123info@troilusgold.com
Cautionary Note Regarding
Forward-Looking Statements and Information
This press release
contains “forward-looking statements” within the meaning of
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements regarding
timing of the ESIA process and government approvals,
pre-feasibility study, environmental assessments (including the
timing of an environmental impact study) and development plans,
opportunity to expand the scale of the project,; the development
potential and timetable of the project; the estimation of mineral
resources; realization of mineral resource estimates; the timing
and amount of estimated future exploration; costs of future
activities; capital and operating expenditures; success of
exploration activities; the anticipated ability of investors to
continue benefiting from the Company’s low discovery costs,
technical expertise and support from local communities; the timing
and amount of estimated future exploration; the ability of the
Company to achieve full carbon neutrality now or in the future;;
the ongoing impact of the novel coronavirus (COVID-19) and the
considerable uncertainties about the geographic, social and
economic impact on the Company. Generally, forward-looking
statements can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “continue”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would”,
“will”, “might” or “will be taken”, “occur” or “be
achieved”. Forward-looking statements are made based upon
certain assumptions and other important facts that, if untrue,
could cause the actual results, performances or achievements of
Troilus to be materially different from future results,
performances or achievements expressed or implied by such
statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and
the environment in which Troilus will operate in the future.
Certain important factors that could cause actual results,
performances or achievements to differ materially from those in the
forward-looking statements include, amongst others, currency
fluctuations, the global economic climate, dilution, share price
volatility and competition. Forward-looking statements are subject
to known and unknown risks, uncertainties and other important
factors that may cause the actual results, level of activity,
performance or achievements of Troilus to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: the impact the COVID 19 pandemic may
have on the Company’s activities (including without limitation on
its employees and suppliers) and the economy in general; the impact
of the recovery post COVID 19 pandemic and its impact on gold and
other metals; there being no assurance that the exploration program
or programs of the Company will result in expanded mineral
resources; risks and uncertainties inherent to mineral resource
estimates; the high degree of uncertainties inherent to preliminary
economic assessments and other mining and economic studies which
are based to a significant extent on various assumptions;
variations in gold prices and other precious metals, exchange rate
fluctuations; variations in cost of supplies and labour; receipt of
necessary approvals; general business, economic, competitive,
political and social uncertainties; future gold and other metal
prices; accidents, labour disputes and shortages; environmental and
other risks of the mining industry, including without limitation,
risks and uncertainties discussed in the Technical Report and in
other continuous disclosure documents of the Company available
under the Company’s profile at www.sedar.com. Although Troilus has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Troilus does
not undertake to update any forward-looking statements, except in
accordance with applicable securities laws.
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