Calibre Announces Receipt of the Federal Environmental Assessment Approval for the Berry Pit at the Valentine Gold Mine, Newfoundland & Labrador, Canada
Rhea-AI Summary
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) has received federal environmental approval for the addition of the Berry Pit at its Valentine Gold Mine in Newfoundland & Labrador, Canada. The approval, granted by the Minister of Environment and Climate Change Canada, follows an environmental assessment update submitted in August 2023. This decision complements the recently issued provincial mining and surface leases for Berry and associated infrastructure.
Calibre's CEO, Darren Hall, highlighted that the company now has the major approvals required for the three-pit mine plan included in the 2022 Feasibility Study. Since acquiring Valentine in January, Calibre has made significant progress, advancing engineering to 98% and construction from 50% to 77%. The company is on track to deliver first gold in Q2, 2025.
Positive
- Received federal environmental approval for Berry Pit expansion
- Obtained provincial mining and surface leases for Berry Pit
- Engineering progress at 98% completion
- Construction advanced from 50% to 77%
- On track for first gold production in Q2 2025
Negative
- None.
News Market Reaction – CXBMF
On the day this news was published, CXBMF gained 3.62%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, British Columbia, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the "Company" or "Calibre") is pleased to announce that the Honorable Steven Guilbeault, Minister of Environment and Climate Change Canada, has approved the addition of a third open pit, the Berry Deposit (“Berry Pit”), at its
Darren Hall, President and Chief Executive Officer of Calibre, stated: “I am pleased to announce that we have obtained Federal Environmental approval for the development of the Berry Pit at Valentine. With this approval and the recent issuance of Provincial mining and surface leases for Berry and associated infrastructure, we now have the major approvals required for the three-pit mine plan included in the 2022 Feasibility Study."
“Since acquiring Valentine in January, we have progressed engineering to
To view the Amended Decision Statement and IAAC’s Analysis of the Berry Pit Expansion, please click the links below:
Link 1 – Amended Decision Statement
Link 2 – Analysis of Marathon Gold Corporation Proposed Changes to the Valentine Gold Project
About Calibre
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.
ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President & Chief Executive Officer
For further information, please contact:
Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com
Calibre’s head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.
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FAQ
What major approval did Calibre Mining (CXBMF) receive for its Valentine Gold Mine?
When is Calibre Mining (CXBMF) expected to deliver first gold from the Valentine Gold Mine?
What is the current progress of engineering and construction at Calibre Mining's (CXBMF) Valentine Gold Mine?
How many open pits are now approved for Calibre Mining's (CXBMF) Valentine Gold Mine?
