- Sabina Gold and Silver (TSX:SBB) has received the final permit for its Back River Project in Nunavut, Canada
- The company was awaiting regulatory approval for the placement of site’s proposed tailings storage facility
- The first approval for the tailing’s facility was granted in December of 2017 and the company has been working with regulators since then for follow-up approvals
- The Back River project is now completely permitted for construction work and production to commence
- Sabina Gold (SBB) is up 1.5 per cent and is trading at C$1.92 per share
Sabina Gold and Silver (TSX:SBB) has received the final permit for its Back River Project in Nunavut, Canada.
The company received the tick off from regulators for the placement of the site’s proposed tailings storage facility.
Sabina now has also the major authorisations to both build and operate the Back-River gold mine. The Back River mine’s feasibility study outlines a 200,000 gold ounces annually over a mine life of 11 years.
The company received its first permit approval in December of 2017, kick starting a two and a half year permitting process for the tailings storage facility to be approved by regulators.
Bruce McLeod, the President and CEO of Sabina Gold and Silver said that while the company has been shovel ready for some time, the final approval would enable full construction work to begin.
“This is the culmination of a rigorous process spanning several years and could not have been accomplished without significant engagement with all stakeholders.
“It is also important to remember, that while the mine plan in our Feasibility Study is focused on a 3,000 tonne per day operation with four mining areas, permitting was advanced on the basis of the previous 6,000 tonne per day feasibility study.
“We continue to work to de-risk and advance the project and look forward to getting back into camp next week,” he said.
Sabina Gold (SBB) is up 1.5 per cent and is trading at $1.92 per share at 2:55 pm EDT.