Detour Gold Confirms Provincial ESR Process for West Detour
TORONTO, ONTARIO--(Marketwired - Sept. 13, 2017) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") reports that the federal Minister of Environment and Climate Change has declined to designate the West Detour project under the Canadian Environmental Assessment Act, 2012. The project will therefore remain under the provincial environmental assessment permitting process.
The Company filed the draft Environmental Study Report ("ESR") on January 30, 2017. The ESR was subsequently distributed to impacted Aboriginal communities with whom the Company has had ongoing consultation.
"Detour Gold has been in meaningful engagement with its Aboriginal partners on the development of West Detour. While this decision provides clarity on the jurisdiction of the regulatory process, it does not change our commitment to engage with our Aboriginal partners to ensure that their environmental, spiritual and cultural concerns are addressed," stated Paul Martin, President and CEO.
The Company does not intend to change the overall timing for the development of West Detour which, as reflected in the Company's current life of mine plan, is scheduled to commence in 2025.
About Detour Gold
Detour Gold is an intermediate gold producer in Canada that holds a 100% interest in the Detour Lake mine, a long life large-scale open pit operation. Detour Gold's shares trade on the Toronto Stock Exchange under the trading symbol DGC.
Detour Gold Corporation, Commerce Court West, 199 Bay Street, Suite 4100, P.O. Box 121, Commerce Court Postal Station, Toronto, Ontario M5L 1E2.
This news release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets", or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved.
Specifically, this news release contains forward-looking statements regarding the overall timing for the development of West Detour scheduled to commence in 2025 as per the current life of mine plan.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, a reduction in the company's available cash resources, the uncertainties involved in interpreting geological data, risks relating to variations in recovered grades and mining dilution, variations in rates of recovery, changes or delays in mining development and exploration plans, the success of mining, development and exploration plans, changes in project parameters, risks related to the receipt of regulatory approvals, increases in costs, environmental compliance and changes in environmental legislation and regulation, delays in the consultation and permitting process for West Detour, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of Business - Risk Factors" in Detour Gold's Annual Information Form and in the continuous disclosure documents filed by Detour Gold on and available on SEDAR at www.sedar.com.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, or such other date or dates specified in such statements. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
President and CEO
Vice President Investor Relations