Australian miner St Barbara (ASX: SBM) and the Mooseland and Area Community Association (MACA) have signed a partnership agreement that formalizes the company’s commitment to the local community near its Touquoy gold mine, 80 km northeast of Halifax, N.S.
The agreement aims to help Mooseland members thrive and achieve sustainable benefits and outcomes. It pledges an initial financial contribution of $75,000 plus an annual contribution of $25,000 to the MACA. The agreement will run for three years and any additional years that St Barbara uses Mooseland Road for mining operations. The funding will be used by MACA for community health, environmental management, economic development, and you education.
The Touquoy open pit mine and associated mill are part of St Barbara’s Atlantic operations that include properties at Beaver Dam, Fifteen Mile Stream and Cochrane Hill. The mine and mill employ more than 300 people. The company also has an active exploration program in the province.
As of June 30, 2020, the Atlantic gold operations had measured resources of 24.3 million tonnes, indicated resources of 32.4 million tonnes, and inferred resources of 7.2 million tonnes, all of which grade 1.1 g/t gold for a total of 2.2 million contained oz. of gold. The resource includes 50.5 million tonnes of proven and probable reserves at 1.1 g/t containing 1.7 million oz.
Learn more at www.StBarbara.com.au.
April 18, 2024
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