AuRico Metals Submits Permit Applications for Kemess Underground Project
TORONTO, Sept. 1, 2017 /CNW/ - AuRico Metals Inc. (TSX: AMI), ("AuRico" or the "Company") today announced that it has submitted its permit applications to the Major Mines Permitting Office ("MMPO") for the wholly-owned Kemess Underground Gold-Copper project located in British Columbia, Canada. The Kemess Underground project is undergoing a coordinated permitting review process, meaning that all of the required permit applications have been submitted and will be reviewed at the same time.
With the submission of the permit applications to the MMPO, the 45-day screening process to ensure that the applications are complete will now commence. Once the permit applications have been screened, and if accepted, the applications will enter the review phase, during which comments will be received and addressed under specified timelines. The final decision packages will then be sent for approval. The permitting process is anticipated to be completed in Q2 2018.
As previously announced on March 15, 2017, the Canadian Environmental Assessment Agency ("CEAA") issued a positive Decision Statement and the British Columbia Environmental Assessment Office ("EAO") granted an Environmental Assessment Certificate for the Kemess Underground project.
About AuRico Metals
AuRico Metals is a mining development and royalty company with a 100% interest in the Kemess property in British Columbia, Canada. The Kemess property hosts the feasibility-stage Kemess Underground Gold-Copper Project, the Kemess East Project, and the infrastructure pertaining to the past producing Kemess South mine. AuRico's royalty portfolio includes a 1.5% NSR royalty on the Young-Davidson Gold Mine and a 2% NSR royalty on the Fosterville Mine, as well as a portfolio of additional producing and pre-production royalty assets located in North America and Australia.
Cautionary Statement on Forward-Looking Information
This press release contains forward-looking statements and forward-looking information as defined under Canadian and U.S. securities laws.All statements, other than statements of historical fact, are, or may be deemed to be, forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget" and similar expressions identify forward-looking statements. Forward-looking statements include statements related to the Company's key deliverables on Kemess over the next 12 months.These statements are based on a number of factors and assumptions that, while considered reasonable by management at the time of making such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies.Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.Such forward-looking statements and the factors and assumptions underlying them in this document include, the future prices of gold and copper, whether the Company's permit applications will make it through the screening process within specified timelines, the amount of comments received during the permit review period, the estimation of mineral reserves and resources, realization of mineral reserve estimates, and the timing and amount of estimated future production.
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCEAuRico Metals
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