https://www.northernontariobusiness.com/
Feds approve environmental assessment for Magino open-pit gold mine
Ottawa has given a thumbs-up for Argonaut Gold to proceed with a proposed open-pit gold mine outside of Dubreuilville. Federal Environment and Climate Change Minister Catherine McKenna announced Jan. 24 that the Magino Gold Project is not likely to cause significant adverse environmental effects.
The 2,200-hectare property is a former underground gold mine, 40 kilometres northeast of Wawa and 14 kilometres southeast of the town of Dubreuilville. Magino is located just east of Alamos’s Island Gold Mine.
Valued at $427 million, Magino could create up to 550 construction jobs and 350 mining jobs. Argonaut hasn’t provided a date on the start of construction.
Over its sporadic mine life, which began after the First World War, Magino produced 114,319 ounces of gold, grading 4.43 grams per tonne.
A feasibility study released by the company in late 2017, outlining the case for an open-pit, described it as a scalable operation that can expand should the project’s economics improve or should a joint-venture partner enter the picture.
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