TSX-listed Argonaut Gold has received a positive decision statement for the environmental assessment (EA) under the Canadian Environmental Assessment Act, 2012 for its 100%-owned Magino project in Ontario, from Environment and Climate Change Minister Catherine McKenna.
The decision follows an EA conducted by the Canadian Environmental Assessment Agency with participation of Indigenous groups, the public and federal departments, including Fisheries and Oceans Canada, Environment and Climate Change Canada, Natural Resources Canada, Health Canada and Transport Canada.
President and CEO Pete Dougherty, commenting in a statement on Monday, termed the approval of the EA as a “major milestone”.
He highlighted that the size, location, existing infrastructure and economics of the project afforded Argonaut considerable flexibility to explore options around Magino on its own or with partners, as demonstrated in a feasibility study published in December 2017.
“Our plans in 2019 are to continue our work to secure other key authorisations required for the project, as well as continue our detailed design and engineering efforts.”
Subsequent key authorisations under way for Magino include, but are not limited to, the conclusion of the provincial EA, the construction permit, the mine closure plan and the Schedule 2 authorisation.
The company anticipates the conclusion of the provincial EA later in the first half of 2019 and subsequent authorisations during 2020.