Federal Government Issues Key Water Licence For Seabridge Gold's KSM Project

TORONTO, Nov. 21, 2016 (GLOBE NEWSWIRE) -- Seabridge Gold Inc. (TSX:SEA) (NYSE:SA) announced today it has received a licence from the Government of Canada required for the construction, operation and maintenance of the Water Storage Facility and associated ancillary water works at its 100%-owned KSM Project located in northwestern BC. 

The licence, as authorized within the International Rivers Improvement Act (IRIA), regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to impact water quality and quantity. The Water Storage Facility (WSF) and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water which has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment. These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The licence was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada.

Seabridge Gold Chairman and CEO Rudi Fronk stated: "This important permit highlights the Government of Canada's continued support for the environmental standards incorporated into our design of the KSM project. This approval further validates the Environmental Impact Statement approval received in 2014, also from the Government of Canada, which concluded that the KSM Project would not result in 'significant impacts' to the environment, including those waters which flow into Alaska. On behalf of Seabridge and its stakeholders, I would like to express our thanks to the Minister of Environment and Climate Change Canada and her technical team for reviewing and approving our permit application."

If you liked this article you might like

Novice Trade: SEA

4 ETFs to Profit From an Uncertain Political Environment

Intermediate Trade: Guggenheim Shipping ETF

TIPs, Global Shipping and Sweden ETFs Offer Unique Values

Guggenheim Shipping (SEA) Enters Oversold Territory