PNX Metals (ASX:PNX) has received environmental approval from the Northern Territory government for its Fountain Head Gold Project in the Pine Creek region.
Highlights:
- The Northern Territory’s Minister for Environment, Climate Change and Water Security has granted environmental approval for the Fountain Head Gold Project.
- A Mine Management Plan (MMP) for Fountain Head will now be submitted to the NT Department of Industry, Tourism & Trade (DITT) for assessment.
- This submission is expected to occur during March 2023.
- A successful review of the MMP by DITT could result in a Mining Authorisation being provided in the third quarter of 2023.
- Process now commenced for Hayes Creek Zinc-Gold-Silver Project integration.
The Fountain Head Environmental Impact Statement (EIS), submitted in mid-2022, is an important component of the Project approval process and contains a comprehensive risk assessment, including studies on groundwater and surface water, biodiversity, Aboriginal and cultural heritage, socioeconomic impacts, transport, air quality, noise, and closure/rehabilitation.
The grant of the environmental approval, completes the EIS process for Fountain Head and now allows the Company to submit a Mining Management Plan (MMP) to the Department of Industry, Tourism & Trade (DITT) for assessment. This submission is expected to occur during March 2023.
The MMP application will be in accordance with the requirements of the NT Mining Management Act 2001 and will contain recommendations from the NT EPA regarding Fountain Head.
A successful review of the MMP by DITT could result in a Mining Authorisation being provided in the third quarter of 2023. Approval of the MMP is the last step in the approvals process for the Project.
The grant of environmental approval for the Fountain Head Gold Project is the culmination of a significant body of work, and a milestone event in PNX’s Pine Creek integrated development strategy,” PNX Managing Director James Fox said.
“The project team is now focused on completing and submitting Mine Management Plans, and progressing approvals for the Hayes Creek Zinc-Gold-Silver Project. Near-mine and regional exploration will re-start shortly with a focus on two newly identified highly prospective ‘gold’ corridors containing multiple high-priority drill targets on our northern leases.”
