Argonaut Gold receives approval of assessment for Magino Project

29 January 2019 (Last Updated January 29th, 2019 11:22)

Argonaut Gold has received federal government approval of assessment for its wholly owned Magino Project in Ontario, Canada.

Argonaut Gold has received federal government approval of assessment for its wholly owned Magino Project in Ontario, Canada.

Minister of Environment and Climate Change Catherine McKenna made the decision, under the Canadian Environmental Assessment Act, 2012.

Prior to the decision, the Canadian Environmental Assessment Agency (EA) carried out a thorough and environmental assessment of the project.

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 also participated in the assessment of the project.

Argonaut Gold president and CEO Pete Dougherty said: “The approval of the EA is the completion of a major milestone for the Magino Project, a process that included cooperation of the company, Indigenous and non-Indigenous communities and the Canadian government to the benefit of all stakeholders.

“As demonstrated in our Feasibility Study published December 2017, the size, location, existing infrastructure and economics of the project give Argonaut significant flexibility to explore options around Magino on our own or with partners.”

“The approval of the EA is the completion of a major milestone for the Magino Project.”

The company now plans to continue to secure other key authorisations required for the project, while continuing its detailed design and engineering efforts.

At present, subsequent key authorisations that are underway for Magino include the conclusion of the Provincial EA, the construction permit, the mine closure plan and the Schedule 2 authorisation.

The Provincial EA is set to conclude in the first half of this year, with subsequent authorisations expected during 2020.