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Spanish Mountain Gold (TSXV: SPA) is one step closer to developing its namesake project in British Columbia following the acceptance by local First Nations of the results of an independent archaeological impact assessment.
In a press release, Spanish Mountain said the survey found the investigated area to have sustained previous disturbance through extensive forestry-related and placer mining activities. Thus, no remains or artifacts are expected to be found there.
The Archaeological Impact Assessment included a desktop review, and vehicle and pedestrian surveys.
This means that the mining operation proposed by the Vancouver-based company in its 2017 Preliminary Economic Assessment can move forward as planned.
The archaeological assessment follows a field program that took place in the summer of 2018 led by archaeologists, field technicians and heritage specialists representing all three First Nations communities whose traditional territories encompass the project area; the Williams Lake Indian Band, Xatśūll First Nation and Lhtako Dené Nation.
“We have now achieved a significant milestone in the overall permitting process and have thereby further de-risked our project. We are satisfied that the proposed project footprint does not appear to impact areas that may be of archaeological significance to our First Nations communities,” said Larry Yau, CEO of Spanish Mountain Gold.
The firm’s sole project is located in southern-central British Columbia, 70 kilometres northeast of Williams Lake. It is a two-zone project in which the pit-delineated high-grade core or First Zone of the multi-million-ounce resource is expected to sustain a stand-alone operation exceeding 24 years.
Additionally, Spanish Mountain reports that resource ounces for the Second Zone, which are not included in its 2017 PEA, present future development opportunities for the project.
