Treasury Resources - Goliath Project

Permitting and Mine Development

Nov 12, 2014
The permitting process has been under way since 2012 with the acceptance of Treasury Metals Inc.'s Goliath Project Description by the Canadian Environmental Assessment Agency (CEAA). The CEAA subsequently issued its Environmental Impact Statement (EIS) guidelines to the company in Feburary 2013. A full bankable feasibility including the company's latest metallurgy results is scheduled for 2014, a major milestone in the mine permitting process. Present metallurgy by G&T Metallurgical Services demonstrates 95+% gold recovery, 60-70% of which is recoverable by gravity, 8-12 hours leach time, and medium hardness rock.
 
Engineering activities are progressing to support advancement of this full feasibility study.
 
A summary of operational activity highlights on Goliath Gold Project include:
• Completed Hydrogeology Baseline Sampling program that outlines natural water courses and surrounding ground water levels, including 11 additional boreholes and sampling throughout the year.
• Completed ARD Baseline program with EcoMetrix. Results have shown easily mitigatable geochemical characteristics with final waste rock volumes to be confirmed by further infill drilling.
• Detailed studies for Geotechnical Mine Design overseen by MDEng of Kingston Ontario are on-going including oriented core drilling. The program will be completed with the upcoming infill drilling campaign.
• Continued Progress on EIS by internal environmental staff towards submitting the Goliath Project EIS to CEAA in 2014.
• Completed a number of environmental and baseline studies that were identified in the Nordmin Environmental Gap • Analysis as mentioned in the May 14th operational update.
• Completed significant portion of infill drilling campaign. Approximately 10,000 metres were drilled for the infill campaign to further define indicated resources.
• Treasury Metals has continued work to define scope, schedule and pricing with several mining and environmental consulting firms for both the preparation of the Environmental Impact Statement and a mine Feasibility Study.
• Treasury Metals continues to engage with surrounding communities and Aboriginal groups through consultation and information meetings.



Source: http://www.treasurymetals.com/s/goliath_gold_project.asp?ReportID=612378