- Mayfair Gold’s (MFG) Fenn-Gib is set to become Canada’s first carbon-neutral gold project
- The company will partner with a leading sustainability advisor to design appropriate offsets during the exploration phase
- The company plans to tap into an Ontario hydropower line traversing the property and a nearby transformer station to achieve its goal
- Mayfair is developing its flagship Fenn-Gib Gold Project in Timmins, Ontario
- Mayfair Gold (MFG) is unchanged trading at $0.90 per share
Mayfair Gold’s (MFG) Fenn-Gib is set to become Canada’s first carbon-neutral gold project.
The company will partner with a leading sustainability advisor to record carbon emissions at Fenn-Gib and the impact of land clearing to design appropriate offsets during the exploration phase.
To achieve carbon neutrality, Mayfair aims to take advantage of a major Ontario hydropower line traversing the property. There is also a high-voltage transformer station in Ramore a short distance southwest of Fenn-Gib.
The company estimates that the total cost of ownership for battery electric vehicles will be 20 per cent lower than comparable diesel vehicles, while maintenance costs will be reduced up to 30 per cent and fuel costs up to 60 per cent.
Patrick Evans, Mayfair’s President and CEO, commented,
“Mayfair Gold, like all resource companies, has a responsibility to reduce carbon emissions from operations. Our commitment starts immediately during the project’s exploration phase and will continue as we embark on the pre-feasibility study in early 2022 for the initial mine design. As a carbon neutral gold operation, Fenn-Gib will account for all carbon emissions over the life of the project and, to the greatest extent possible, aim for zero emissions.”
Mayfair is developing its flagship Fenn-Gib Gold Project in Timmins, Ontario.
Mayfair Gold (MFG) is unchanged trading at $0.90 per share as of 10:39 am ET.