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.
In acknowledging the milestone moment, Argonaut president-CEO Pete Dougherty called Magino a "strategic, long-life asset" blessed with good economics, size, location, and infrastructure that gives them the flexibility to develop the mine on their own or with partners.
"Our plans in 2019 are to continue our work to secure other key authorizations required for the project, as well as continue our detailed design and engineering efforts," he said in a Jan. 28 news release.
The company anticipates the conclusion of the provincial environmental assessment by the middle of this year, with other regulatory approvals, such as a construction permit and mine closure plan approval, expected in 2020.
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...