Marathon Gold Receives Federal Fisheries Act Authorization f Marathon Gold Receives Federal Fisheries Act Authorization for the Valentine Gold Project
TORONTO, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Marathon Gold Corporation ("Marathon" or the "Company"; TSX: MOZ) is pleased to announce that it has received full authorization pursuant to the federal Fisheries Act from Fisheries and Oceans Canada for the Valentine Gold Project in central Newfoundland ("Valentine" or the "Project"). Receipt of this authorization allows Marathon to proceed with all site activities regulated by the Fisheries Act, such as dewatering of small freshwater ponds for open pit mine development, changes in flow due to site water management, and placement of water intake and effluent pipes. The authorization follows the successful completion of the federal Environmental Assessment process in August of this year.
Matt Manson, President and CEO, commented: "In our project update news release of October 12, 2022, we reported on a number of important provincial permits that we had received to allow our early works program to commence at Valentine, such as our Early Works Certificate of Approval, the Approval of the Early Works Development and Rehabilitation & Closure Plan, and the Approval of the Construction Environmental Protection Plan. This latest authorization under the Fisheries Act is a major permit under federal jurisdiction for the Project, and governs the important aspects of water management and the protection of fish and fish habitat. Its receipt is timely, and supports the scheduled site work currently underway. The early works mobilization at Valentine has gone well, and we are able to report good progress in each work area including temporary camp installation, grubbing and tree removal, pad construction, haul road development, and pre-strip mining for construction materials."
Specific terms and conditions with which Marathon must comply are laid out in the Fisheries Act authorization. These include installation and maintenance of sediment and erosion control measures, relocation of fish through capture and release methods, and the implementation of best management practices and standards to avoid and mitigate impacts to fish and fish habitat. Additionally, avoidance and mitigation measures must be monitored and, if monitoring indicates that these are not successful at avoiding and mitigating impacts to fish and fish habitat, contingency measures must be put in place to prevent impacts greater than those covered by the authorization. Of note, the Fisheries Act authorization also includes approval to proceed with a proposed fish habitat offsetting project, which will involve the restoration of salmonid habitat in Victoria River impacted by previous logging activities in the area. Submerged pulpwood in the river will be removed to expose the original substrate, returning the spawning and nursery habitat to its pre-logging condition.
Update on Victoria River Bridge Replacement and Access Road Upgrades
Earlier this month the Company reported the commencement of the replacement of the Victoria River Bridge. This is an important river crossing on the principal access road along the southern shore of Beothuk Lake (formerly Red Indian Lake) connecting the Project to the community of Millertown and the broader Central Newfoundland region. The existing bridge is in poor condition, and has been under load restriction for some time. Its replacement has been a priority of Marathon's but could not be undertaken while the Project remained under Environmental Assessment. The new bridge will allow heavier loads to be transported to the Project site, and will provide a more reliable and, most importantly, safer crossing for local residents, cabin owners and recreational users.
As the replacement work is ongoing, the access route along the southern shore of Beothuk Lake will be closed for a period of 5-6 weeks. Vehicle access to areas west of the bridge during this time will be by way of the north shore of Beothuk Lake via the community of Buchans and the historic Burgeo Highway. Marathon is also currently undertaking needed road upgrades between the Project site and the "Roebuck's" road intersection at the southwest end of Beothuk Lake. These works include the realignment of certain tight road corners, culvert installation, and the clearing of drainage ditches. Road and bridge work is being undertaken by the Project's principal civils contractor, JCL Inc. of Corner Brook, NL.
Photo: Replacement of the Victoria River Bridge
Qualified Persons
Disclosure of a scientific or technical nature in this news release has been approved by Mr. Tim Williams, FAusIMM, Chief Operating Officer of Marathon, Mr. Paolo Toscano, P.Eng. (Ont.), Vice President, Projects for Marathon and Mr. James Powell, P.Eng. (NL), Vice President, Regulatory and Government Affairs for Marathon. Mr. Williams, Mr. Toscano and Mr. Powell are qualified persons under National Instrument ("NI") 43-101 - Standards of Disclosure for Mineral Projects and have approved the technical content of this news release.