THUNDER BAY, ON, March 28, 2019 /CNW/ - Centerra Gold Inc.
("Centerra") (TSX: CG) and Premier Gold Mines Limited ("Premier")
(TSX: PG) are pleased to announce that the provincial Environmental
Assessment ("EA") for Greenstone Gold Mines ("GGM") Hardrock
Project (the "Project") was approved on March 26, 2019 by the Minister of Environment,
Conservation & Parks of Ontario with concurrence from Cabinet.
The Federal EA was approved on December 13,
2018 by the Minister of Environment and Climate Change of
Canada. GGM is a 50/50 joint venture between Centerra and
Premier for the joint ownership and development of the Hardrock
Project.
The main objective of the 2019 workplan is to continue the
process of developing and de-risking the Project, with C$54 million planned to be invested to:
- advance permitting including construction permit
applications;
- progress detailed engineering;
- complete an additional 18,000 metres of drilling, targeting
areas that are planned to be mined in the first five years of
operations, and update Reserves & Resources; and,
- incorporate the results of the optimization work that was
completed in 2017 and 2018, and update the Project economics.
About Centerra Gold Inc.
Centerra Gold Inc. is a
Canadian-based gold mining company focused on operating,
developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is the
largest Western-based gold producer in Central Asia. Centerra
operates two flagship assets, the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in
British Columbia, Canada and is
building its next gold mine, its 100% owned Öksüt Gold Mine in
Turkey. Centerra's shares trade on the Toronto Stock Exchange
(TSX) under the symbol CG. The Company is based in
Toronto, Ontario, Canada.
About Premier Gold Mines Limited
Premier Gold Mines
Limited is a gold-producer with a respected exploration and
development pipeline of precious metal projects in proven,
accessible and safe mining jurisdictions in Canada, the United
States, and Mexico.
Information contained in this news release which are not
statements of historical facts, may be "forward‐looking
information" for the purposes of Canadian securities laws.
Such forward looking information involves risks, uncertainties and
other factors that could cause actual results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward looking information. The
words "expect", "target", "estimate", "may", "will", and similar
expressions identify forward‐looking information. These
forward‐looking statements relate to, among other things, advancing
permitting including construction permit applications, progressing
detailed engineering, completing additional drilling, updating
mineral reserve and resource estimates, and updating the project
economics. Centerra/Premier assumes no obligation to update or
revise forward‐looking information to reflect changes in
assumptions, changes in circumstances or any other events affecting
such forward looking information, except as required by applicable
law.
SOURCE Premier Gold Mines Limited