Amended-EIS filing triggers new 70-day review of Valentine gold project
Toronto-listed gold company Marathon has filed an amended environmental impact statement (EIS) for the Valentine project, in Newfoundland and Labrador, to deal with, among other issues, the protection and monitoring of caribou.
This is the second amended EIS that Marathon has filed since starting the environmental assessment (EA) process for the project in April 2019.
The latest amendment includes a caribou protection plan, which the company developed in consultation with wildlife division of the provincial department of Fisheries, Forestry and Agriculture.
“The caribou protection and environmental effects monitoring plan fully operationalises our proposed monitoring programmes for potential impacts on caribou behaviour arising from the project, and their mitigations,” president and CEO Matt Manson said on Friday.
The filing triggered a new 70-day round of technical and public review of the amended EIS. At the end of this period, the Newfoundland and Labrador Minister of Environment and Climate Change will have a further opportunity to make a determination on the acceptability of the project.
“Successful completion of the provincial EA process this spring, and the completion of the parallel federal EA process, will allow us to commence the project’s activity-specific permitting process ahead of anticipated ground-breaking in the third quarter of this year,” said Manson.
The Valentine project comprises a series of five mineralised deposits along a 20-km system. An April 2021 feasibility study outlined an openpit mining and conventional milling operation over a 13-year mine life with a 31.5% after-tax rate of return.
The project has estimated proven mineral reserves of 1.40-million ounces and probable mineral reserves of 0.65-million ounces.
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