(Kitco News) - Marathon Gold (TSX:MOZ) said today that it received full authorization pursuant to the federal Fisheries Act from Fisheries and Oceans Canada for the Valentine Gold Project in central Newfoundland.
Marathon is advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador. A feasibility study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return.
President and CEO Matt Manson said the project is making good progress.
“This latest authorization under the Fisheries Act is a major permit under federal jurisdiction for the Project, and governs the important aspects of water management and the protection of fish and fish habitat. Its receipt is timely, and supports the scheduled site work currently underway. The early works mobilization at Valentine has gone well, and we are able to report good progress in each work area including temporary camp installation, grubbing and tree removal, pad construction, haul road development, and pre-strip mining for construction materials,” said Manson.
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