A gold mining venture in northwestern B.C.’s “Golden Triangle” is moving ahead after receiving a Mines Act permit.

The Ascot Resources Ltd. project is expected to create jobs for as many as 140 people during construction and approximately 280 people during operations.

“This project will be a welcome source of employment for hundreds of people who live in the northwest,” said Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. “Ascot Resources Ltd. is working with the Nisga’a Nation to bring good-paying jobs to the community and those who live around Stewart.”

With receipt of their Mines Act permit, Ascot Resources Ltd. can move forward with full-scale construction of the Premier Gold Project (PGP). Once built, Ascot Resources anticipates Premier will be one of B.C.’s lowest carbon-intensive gold mines, connected to BC Hydro’s clean, hydroelectric grid power.

Beyond the hundreds of jobs in construction and operation, the mine will create work opportunities for sub-contractors, suppliers and additional service providers within the region. Ascot Resources is set to begin underground development at the “Big Missouri” deposit in the coming months with project construction expected to take one year. The mine is expected to be in operation for an initial term of eight years.

“Receiving the Mines Act Permit for PGP is a momentous milestone for Ascot, and the culmination of extensive collaboration and consultation with Nisga’a Nation and the provincial regulators,” said Derek White, president and CEO, Ascot Resources Ltd. “We are grateful that our community-centred approach to responsible mine development and environmental stewardship was a vision shared by all parties involved in the permitting process. We would like to thank our shareholders, Nisga’a Nation and the local towns of Stewart, B.C. and Hyder, Alaska for their support as we progressed through the permitting process and are looking forward to the next chapter as we advance Canada’s next gold mine toward production.”

The “Golden Triangle” has long been known as a mineral-rich region with gold and copper deposits. The area is also home to silver, nickel and zinc deposits, which are elements necessary to B.C.’s low-carbon economy.

“We are very pleased to see that the Mines Act Permit for the construction and operation of the Premier Gold Project has been issued,” said Eva Clayton, president, Nisga’a Lisims Government. “The Nisga’a Nation has worked in extensive collaboration with Ascot throughout the permitting process, including through the Mine Review Committee process leading up to the granting of the permit. The rights under our Treaty and our commitment to stewardship of the Nass Valley and Nisga’a citizens have helped to set the Premier Gold Project to be a safe, prosperous and responsible mining operation. We have developed a strong working relationship with Ascot and we wish to congratulate them on this important milestone. We look forward to our continued collaboration with Ascot in the full-scale construction and operation phases of the project.”