Issued by the Nova Scotia Minister of Environment and Climate Change, the environmental assessment approval allows the firm to site-specific permitting processes.
These processes include industrial approval and applications for land and mining leases.
The Goldboro Gold Project is a surface mine with an estimated extraction capacity of 4,000tpa.
An ore processing facility will receive extracted ore to produce gold doré bars for approximately 11 years.
Construction on the project is planned to start in 2023-2024, subject to pending permits. It is expected to take around two years to complete.
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Signal Gold president and CEO Kevin Bullock said: “Signal Gold is extremely pleased to have received the environmental approval for its Goldboro Gold Project, an important milestone that reflects the culmination of five years of environmental baseline monitoring and analysis.
“This approval marks an important milestone towards the development of Goldboro, which will have a significant socio-economic impact on the region and the province.
“We recognise that a mining project is a temporary use of land, and we are committed to sustainably developing a project that mitigates environmental impact at every phase, including construction, operations, reclamation and closure.”
The project is expected to create 735 new direct and spin-off jobs each year for 15 years in the province during its lifecycle, including construction, operations and closure.
Nova Scotia Minister of Environment and Climate Change said that the project’s significant environmental impacts could be adequately minimised through the Environmental Assessment Approval’s terms and conditions.
It can also be reduced ‘through compliance to the other licences, certificates, permits and approvals that will be required for operation’, the minister said.