Canada Silver Cobalt Works (TSXV:CCW; OTC:CCWOF) has announced its intention to apply for the new recovery permit as outlined in the recent changes to the Ontario Mining Act. The recovery permit will be a streamlined method to reprocess historic mine wastes like the Beaver silver-cobalt-nickel-copper mine and Castle silver-gold-cobalt mine stamp mill tailings.
“Not only will this allow companies like Canada Silver Cobalt to turn historic hazards into profits but gives us the opportunity to clean out deleterious elements from the environment, and restacking or disposing of tailings in a cleaner more stable fashion,” said Matt Halliday, president of Canada Silver.
To obtain a recovery permit for such activity, an applicant must demonstrate that it will remediate the land such that the condition of the land is improved with respect to environmental standards or public health and safety. The steps a company plans to take must be spelled out in the application. The recovery permit provisions have not yet come into force.
Canada Silver says applying for the new permit will allow the reprocessing of mining wastes without the requirement to file a mine production closure plan or obtain a mining lease. The intention is to measure success by reducing the burden and realizing cost savings for the mineral development sector, reduce the time an application takes, and to increase clarity on the regulatory requirement and application process.
The company believes obtaining a recovery permit would be appropriate for two of its sites. A sonic drilling program at the Beaver mine tailings returned grades ranging from 13.7 to 314 g/t silver plus cobalt, nickel and copper. Samples tested from the Castle mine tailings graded 398 g/t silver, 0.64 g/t gold, and 20% cobalt.
Read more about these projects at www.CanadaSilverCobaltWorks.com.