Sabre Gold Commences Permitting Process at Brewery Creek Project, Canada
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Sabre Gold Mines Corp. and its 100 percent wholly owned subsidiary, Golden Predator Exploration, have commenced the permitting process at the Brewery Creek Property located in the Yukon Territory, Canada while continuing to advance the Copperstone Project located in western Arizona.
BREWERY CREEK PROJECT
On June 1, 2022, Golden Predator Exploration Ltd. provided the Yukon Environmental and Socio-Economic Assessment Board (YESAB) a 30-day written notice of its intent to submit an updated project description on Brewery Creek for executive committee screening. The submission of the updated project description to YESAB is the first step required to initiate the executive committee level screening under the Yukon Environmental and Socio-Economic Assessment Act’s new pre-submission engagement process. The next step will be working with YESAB’s executive committee to draft the project proposal guidelines. The project proposal guidelines will frame the environmental and socio-economic assessment for the project.
Brewery Creek’s project description has been updated to reflect the project profile as included in the recently published January 2022 preliminary economic assessment (PEA), which further outlines details regarding the mine expansion and operational restart at the Brewery Creek Mine and provides information on the construction, operations, reclamation, and closure of the project.
The project is designed to mine 18,657,000 tonnes of gold mineralized material from nine open pits with a mining life of approximately nine years. Ensero Solutions Canada, Inc. assisted in writing the project description. The local First Nations Tr’ondëk Hwëch’in First Nation (THFN) were also consulted for purposes of the initial project description.
“The submission of an updated project description commences the permitting process to bring the Brewery Creek Mine back into operations with a timeline that is anticipated to be shortened as Brewery Creek was a former producer and fully permitted. Sabre Gold looks forward to working with the local First Nations and YESAB to work through the assessment process in a timely and efficient manner,” said Giulio Bonifacio, president and CEO.
“Sabre Gold is also renewing the class IV land use permit at Brewery Creek for another 10 years. The land use permit authorizes exploration activities across the claims including further drilling to test several highly prospective drill targets within and outside of the current resource areas for purposes of expansion of the current resource,” added Bonifacio.
The PEA was prepared in accordance with NI 43-101 and evaluated the economics of resuming mining at Brewery Creek through open pit mining and heap leaching mined material for gold recovery to doré. The PEA study was prepared by Kappes, Cassiday & Associates of Reno, Nevada in cooperation with Tetra Tech Inc. of Golden, Colorado, Gustavson and Associates of Lakewood, Colorado, and Wood Environment & Infrastructure Solutions, of Vancouver, British Columbia.
COPPERSTONE UPDATE
Sabre Gold continues to further optimize Copperstone by way of advancing detailed engineering. The recent addition of Mike Maslowski, COO and Sid Tolbert, vice president general manager and their collective wealth of underground experience has allowed for detailed examinations of several areas that are expected to further optimize project economics.
Sabre Gold continues to advance discussions regarding project debt and is actively engaged with lenders and current stakeholders. Copperstone remains on track to advance to production within twelve months from funding with a strategy that remains focused on minimizing dilution to our existing stakeholders. In the interim project activities will focus on preserving capital until project funding has been secured.
About Sabre Gold Mines Corp.
Sabre Gold is a diversified, multi-asset near-term gold producer in North America which holds 100 percent ownership of both the fully permitted Copperstone gold mine located in Arizona, United States, and the Brewery Creek gold mine located in Yukon, Canada, both of which are former producers. Management intends to restart production at Copperstone followed by Brewery Creek in the near term. Sabre Gold also holds other investments and projects at varying stages of development. Sabre Gold is led by an experienced team of mining professionals with backgrounds in exploration, mine building and operations.
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