TriStar Gold - Permit Approved by COEMA Council
TriStar Gold (TSGZF) announced that the Pará State Environmental Council (COEMA) approved the Preliminary License (LP) and Environmental Impact Assessment (EIA) for its Castelo de Sonhos gold project in Brazil on June 11, 2024. The final issuance of the LP awaits internal processes by the Secretariat for the Environment and Sustainability (SEMAS). The approval was unanimous and follows extensive efforts by TriStar's team and support from various local organizations.
CEO Nick Appleyard praised the team and highlighted the project's potential to unlock shareholder value, alongside their commitment to sustainable development in the region. TriStar's shares trade on the TSX Venture Exchange (TSG) and OTCQB (TSGZF).
- COEMA's unanimous approval of the Preliminary License and Environmental Impact Assessment.
- Strong support and positive response from the COEMA meeting.
- Extensive efforts and contributions from TriStar's dedicated team.
- Support from local organizations like FIEPA, SEDEME, and APGAM.
- Potential for unlocking shareholder value through project development.
- Commitment to sustainable development in the local region.
- Formal issuance of the LP is not guaranteed despite no known risks.
- Pending internal processes by SEMAS could delay formal approval.
- Uncertainty around the final gazetting of the LP.
Scottsdale, Arizona--(Newsfile Corp. - June 12, 2024) - TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) (the Company or TriStar) is pleased to announce that the Pará State Environmental Council (COEMA) met on June 11, 2024 in Belem, and has approved the Licença Prévia (Preliminary License or LP) and the Environmental Impact Assessment (EIA) for the Castelo de Sonhos gold project in Brazil. The formal issuance and gazettal of the LP should now only be subject to internal Secretariat for the Environment and Sustainability (SEMAS) processes. TriStar presented at the COEMA meeting to a positive and supportive response. Subsequently the council unanimously voted in favor of the LP.
Mr. Nick Appleyard, CEO, stated, "Achieving a milestone like this is the culmination of a huge amount of work by our small and dedicated team (photos of two team members presenting to COEMA below). The work they have done has been outstanding in every regard. We are also thankful to the many people and organizations that have supported us including the Federation of Industries of Pará State (FIEPA), the Secretariat of Economic Development, Mining and Energy (SEDEME) and the Professional Association of Geologists of the Amazon (APGAM)."
The formal issuance of the LP is now in the hands of SEMAS, who will publish the formal approval in the State of Pará gazette at www.ioepa.com.br. TriStar is not aware of any specific risks to the formal issuance of the LP, but neither are there any guarantees.
The development of the project, including future commitments detailed through our permitting activities are all aimed at unlocking shareholder value. However, project development goes hand in hand with our voluntary work in the local region, this is all focused on sustainable development that can have a lasting positive impact on the people that we share this beautiful part of Brazil with.
Figure 1 Rosangela Pontara presenting the benefits of CDS to COEMA Board members.
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Figure 2, Fernanda Bretas presenting the technical aspects of CDS.
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About TriStar
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is the Castelo de Sonhos gold project in Pará State, Brazil. TriStar has completed a pre-feasibility study and is now advancing permitting while evaluating optimization options. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQB under the symbol TSGZF. Further information is available at www.tristargold.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
Nick Appleyard
President and CEO
480-794-1244
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements in this press release include statements about the Company's anticipated official receipt of the LP permit. Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; effects of the COVID-19 virus on all aspects of the Company's business, the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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FAQ
What recent approval did TriStar Gold (TSGZF) receive for its Castelo de Sonhos project?
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