Tintina Announces Receiving an Amended Road Permit at Red Mountain
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/05/17 -- Tintina Mines Limited ("Tintina" or the "Company") (TSX VENTURE: TTS) announces an update to its press release of June 1, 2017 concerning its road rehabilitation cost estimate at its Red Mountain Project. The Company is pleased to announce that its Land Use Permit has been amended such that, as long as the permit is valid, it will not have to remediate the road that is situated on third-party lands. Moreover, Tintina now maintains its access to the Red Mountain Project through its road permit.
As background, certain claims at Red Mountain in the Yukon had not yet been renewed due to an unintended error in the claims renewal process. The Company notes that the affected claims are not considered to be material because they do not cover the areas of known mineralization. Although management continued to pursue the reinstatement of these claims, its efforts proved to be unsuccessful and therefore these claims are regarded as lost.
During November 2016, a third party claimed the area lost by Tintina and now these claims belong to another mining company. Due to the loss of the claims, the Yukon Energy, Mines and Resources Department informed to Tintina that the mining land use permit for the portion of the road access located within the third party''s claims is no longer valid.
During June 2017, Tintina management met with the local Land Use Management in the Yukon and visited the project area in order to evaluate the site and define an action plan. On August 14, 2017, Tintina management submitted a letter to the Land Use Manager in the Yukon requesting an extension of the current Land Use Permit for the road within the third party claims in order to keep land access to the project.
On August 23, 2017, the Company received an official communication from the Land Use Manager office of the Energy, Mines and Resources department informing Tintina that the Land Use Permit has been amended to include the portion of the Red Mountain Road previously located on Tintina claims and currently within third party claims. Therefore, Tintina will maintain the road access to the Red Mountain Project and perform exploration activities using it.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, permits received, receipt of property titles, potential mineral recovery processes, the financial picture of the Company etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
Contacts:
Eugenio Ferrari
CEO & Director
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Datum: 05.09.2017 - 05:00 Uhr
Sprache: Deutsch
News-ID 1519632
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Mining & Metals
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