Green light for Eskay Creek

The British Columbia government has awarded a mine development certificate to Prime Resources Group (TSE) for its Eskay Creek gold project 80 air-km north of Stewart.

The project was given a full technical review, which included consultation with the public and First Nations. Provincial Mines Minister Anne Edwards said the certification sends a message that British Columbia is not merely open for business — “it’s actively looking for business.”

Prime holds a 100% interest in Eskay Creek, as well as 40% in the successful Snip gold mine, also in northwestern B.C. San Francisco-based Homestake Mining (NYSE) owns just over half of Prime’s outstanding shares and operates the Eskay Creek project.

The certificate approves a $75-million, 130,000 tonne-per-year underground gold-silver-zinc-copper project that will employ about 110 people for mining. The project includes the mine, ore load-out facility and temporary waste rock and ore stockpiles.

Prime expects to produce 210,000 oz. gold and 9.4 million oz. silver annually for a mine life of at least 10 years. Current plans call for the ore to be shipped directly to smelters in Japan and Quebec. But the mine certificate will allow the company the option of building a mill near Houston, B.C., if economic conditions allow.

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