TriStar Gold Submits Major Environmental Permit Application at Castelo De Sonhos Gold Project, Para State, Brazil
TriStar Gold Submits Major Environmental
Permit Application at Castelo De Sonhos Gold
Project, Para State, Brazil
Scottsdale, Arizona--(Newsfile Corp. - July 21, 2022) - TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF)
(the Company or TriStar) is pleased to announce the completion of the Environmental Impact
Assessment (EIA) and the application for the Prior License (LP) for the Castelo de Sonhos gold project.
The Prior License (Licença Prévia in Portuguese) represents the first of a three-stage environmental
licencing process required for mining projects in Brazil. The LP is generally considered the most critical
stage as it involves input and approval from several government agencies as well as local stakeholders,
communities and details the environmental, social, and economic impacts and benefits of the project.
The EIA incorporates project details from the Castelo de Sonhos Pre-Feasibility Study completed in Q4
2021. It provides an analysis of potential project impacts across the physical, biotic and socio- economic
mediums while detailing mitigation, management and compensation strategies to be implemented by
the Company.
The EIA highlights that the majority of the Directly Affected Area (ADA) of the project is already
significantly impacted by human activity. It states that
"the formalization of mining, and the installation of
a mineral extractive industry, makes the project an opportunity for the local government to leverage
investment, empowering it to face the challenges of population expansion, as well as in promoting
local political and economic prominence".
Nick Appleyard, CEO of TriStar, commented, "This is very significant milestone in the development of
Castelo de Sonhos which, when in full production, will generate significant and lasting economic benefits
for the region. We have already initiated most of the preparatory work that we know will be required for
the submission of the Installation License application, so we are in a good position to make this
application promptly upon approval of the LP."
Over the coming months, TriStar will work with SEMAS (the Environment and Sustainability Secretariat
of Pará State) to engage key stakeholders about the project and the findings of the EIA and prepare
detailed information in advance of a Public Hearing, which we anticipate holding by Q2 of 2023
depending on the decision of SEMAS.
After receipt of the LP, the second stage of permitting is the Installation License ("LI") which will allow the
processing plant and other infrastructure to be constructed. Work on several programs and studies to
support the LI application have already been initiated, including detailed studies on cave relevance,
archeology and land regularization. The final stage is the Operations License, which allows you to
commence operations once construction is complete.
Drilling Update
Drilling is advancing at Esperança South, with two core rigs as part of a 2,500m reserve expansion and
exploration program.
The initial holes are targeting shallow up-dip extensions in the central portion of the
deposit, as well as gaps in the mineral reserves in the extreme south.
Figure 1, Esperança South, showing red asterisks for this program, with named holes being underway or
complete. Black dots are pre-existing drill holes.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4509/131466_874719241418f922_003full.jpg
First results are anticipated to be available in September, with the program complete with all assays in
Q1 of 2023.
Qualified Person
R. Mohan Srivastava (P.Geo.) of RedDot3D Inc. is the Qualified Person who has reviewed the technical
information contained in this news release, including data verification, and has approved its disclosure.
About TriStar
TriStar Gold is an exploration and development company focused on precious metals properties in the
Americas that have the potential to become significant producing mines. The Company's current flagship
property is Castelo de Sonhos in Pará State, Brazil. The Company's shares trade on the TSX Venture
Exchange under the symbol
TSG
and on the OTCQX under the symbol
TSGZF
. Further information is
available at
www.tristargold.com
.
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
Nick Appleyard
President and CEO
For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements under
Canadian securities legislation which are not historical facts and are made pursuant to the "safe
harbour" provisions under the United States Private Securities Litigation Reform Act of 1995.
Generally, forward-looking information can be identified by the use of forward-looking terminology
such as "expects" or "it is expected", or variations of such words and phrases or statements that
certain actions, events or results "will" occur. Forward-looking statements in this press release include
statements about the Company's ability to complete the current drilling program, the results of further
exploration target identification and the anticipated ongoing effects of the COVID-19 virus. Such
forward-looking statements are based upon the Company's reasonable expectations and business
plan at the date hereof, which are subject to change depending on economic, political and competitive
circumstances and contingencies. Readers are cautioned that such forward-looking statements
involve known and unknown risks, uncertainties and other factors that may cause a change in such
assumptions and the actual outcomes and estimates to be materially different from those estimated
or anticipated future results, achievements or position expressed or implied by those forward-looking
statements. Risks, uncertainties and other factors that could cause the Company's plans to change
include changes in demand for and price of gold and other commodities (such as fuel and electricity)
and currencies; changes or disruptions in the securities markets; legislative, political or economic
developments in Brazil; effects of the COVID-19 virus on all aspects of the Company's business, the
need to obtain permits and comply with laws and regulations and other regulatory requirements; the
possibility that actual results of work may differ from projections/expectations or may not realize the
perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in development programs; operating or technical difficulties in connection
with exploration, mining or development activities; the speculative nature of gold exploration and
development, including the risks of diminishing quantities of grades of reserves and resources; and
the risks involved in the exploration, development and mining business. Although management of the
Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any
intention or obligation to update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by applicable securities laws.
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