Ximen Mining Corp (TSX-V:XIM, OTCQB:XXMMF) revealed that it has received the draft of the Mines Act Permit for the underground development program at the Kenville Gold Mine from the British Columbia government.
The company said it has now received two permits in draft, one from the Ministry of Environment, and this recent one from the Ministry of Energy, Mines and Low-Carbon Innovation. The draft Environmental Permit was received earlier and has been reviewed and approved by Ximen.
The company siad it has submitted its final responses and expects the final permit to be issued shortly.
READ: Ximen Mining closes previously announced private placement for gross proceeds of $720,000
Ximen said that the all-important Mines Act Permit draft provides approval for the following key activities:
- Establishment of the new Venango Portal and 1200 meter (m) of decline development at this portal with associated re-mucks, safety bays and sumps;
- Underground Exploration Drilling (20,250m) from the new Venango decline;
- Establishment of one Waste Rock Storage facility which is roughly 3750 square meters;
- Installation of surface water management structures;
- Location of one portable office structure;
- Onsite fuel storage (two 4,500 enviro tanks).
Ximen said it is “very pleased” with the permit draft and has reviewed the conditions that apply prior to and during the development program, a majority of which have already been met. Ximen said it is undertaking a “final review of the exact wording and conditions.”
“Once our review has been completed and relayed to the Mines department, the final Mines Act Permit is expected to be received,” said the firm.
One of the key conditions that the Draft Permit lays down is a reclamation security of $103,800, which must be deposited with the Minister of Finance. Construction must also to be completed under the supervision of a professional engineer.
Investors can read details about the key Draft Permit conditions here.
The permit brings Ximen one step closer to expanding what it describes as the “art of underground mining,” while maintaining the environment and utilizing hydro, a green energy source to advance the project.
“The Kenville Gold Mine is again making firsts, it was the first underground gold mine in BC, and now will be achieving a first, as Ximen completes one more milestone bringing us closer to empowering families with the opportunity to embrace a sustainable income, all within 15 minutes of their homestead,” Ximen CEO Christopher R Anderson said in a statement.
“This, while respecting and maintaining the beauty and abundance of all that surrounds us…This is our focus as we proudly advance towards opening what we consider to be one of the greenest gold mines in southern BC," he added.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive