Supplemental Draft Environmental Impact
Statement publication anticipated in Q4 2022.
The Stibnite Gold Project is designed to
responsibly source gold and the only domestically mined source of
antimony, essential for clean energy and defense supply
chains.
BOISE,
Idaho, Sept. 6, 2022 /CNW/ - Perpetua Resources
Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or the "Company") announced today that the Company
expects the United States Forest Service ("USFS") to publish a
Supplemental Draft Environmental Impact Statement ("SDEIS" or
"Supplemental DEIS") for public review in the fourth quarter of
2022. The USFS has confirmed that cooperating agency review is
complete and the SDEIS is currently progressing through final
reviews in Washington D.C. The
USFS is concurrently working with Idaho tribes to inform meaningful
consultation.
Perpetua is confident the additional evaluation contained within
the SDEIS will show improved environmental outcomes that directly
address issues raised during the public review of the 2020 Draft
Environmental Impact Statement ("DEIS") and believes the additional
analysis and detailed review should lead to the USFS designating a
preferred alternative in the SDEIS. This key designation would
further narrow the scope of review for the remainder of the
process. Nearly two years of additional and comprehensive
scientific analysis by the USFS and cooperating agencies, combined
with the additional public review of the SDEIS, fortify the
rigorous process mandated by the National Environmental Policy Act
("NEPA").
"We remain eager to show how our project improvements are
designed to leave water quality and overall habitat in this
historic mining district in better shape than they are in today,"
said Laurel Sayer, President and CEO
of Perpetua Resources. "Today, more than ever, a secure source of
domestically produced antimony is essential for our national
security and energy future. Perpetua is ready to be the responsible
solution our country needs."
Critical Project for National
Defense and Clean Energy Future:
The Stibnite Gold Project in central Idaho is designed to restore environmental
conditions at a legacy mine site while responsibly developing one
of the highest-grade, open pit gold resources in the United States and becoming the only
domestically mined source of the critical mineral antimony.
Antimony is essential to defense, technology and energy products
and is a listed critical mineral by the United States Geological
Survey (USGS) and a mineral of interest by the Department of
Defense (DOD) and Defense Logistics Agency (DLA).
Antimony is critical to the U.S. defense industrial supply chain
for materials ranging from ammunition to night vision goggles.
Without a domestically mined source, the
United States is reliant on nations like China, Russia
and Tajikistan that control 90% of
the global supply. The Stibnite Gold Project has one of the world's
largest independent reserves of antimony and is positioned to
provide a secure source of antimony for defense and commercial
needs.
Attention to antimony, and related defense materials, is growing
amid heightened geopolitical tension and supply chain disruptions.
Last week, military leaders voiced concern that the war in
Ukraine has strained ammunition
supplies. This comes just after Congress called for increased
attention to antimony in the National Defense Authorization Act
(NDAA).
Congress recently authorized a 10% production tax credit for
certain critical minerals including antimony in the Inflation
Reduction Act. Antimony is a key component for the long-duration
grid storage battery technology developed by Ambri. The
Massachusetts-based company
recently announced the expansion of its U.S. manufacturing capacity
along with a renewable energy demonstration project with Xcel
Energy in Colorado. In
August 2021, Perpetua Resources
entered into a partnership agreement with Ambri to provide antimony
from the Stibnite Gold Project for battery production.
About Perpetua Resources and the
Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries,
is focused on the exploration, site restoration and redevelopment
of gold-antimony-silver deposits in the Stibnite-Yellow Pine
district of central Idaho that are
encompassed by the Stibnite Gold Project. The Project is one
of the highest-grade, open pit gold deposits in the United States and is designed to apply a
modern, responsible mining approach to restore an abandoned mine
site and produce both gold and the only mined source of antimony in
the United States. Further
advancing Perpetua Resources' ESG and sustainable mining goals, the
Project will be powered by the lowest carbon emissions grid in the
nation and a portion of the antimony produced from the Project will
be supplied to Ambri, a US-based company commercializing a low-cost
liquid metal battery essential for the low-carbon energy
transition. In addition to the company's commitments to
transparency, accountability, environmental stewardship, safety and
community engagement, Perpetua Resources adopted formal ESG
commitments which can be found here.
Forward-Looking
Information
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding possible events, next steps
and courses of action including environmental clean up actions by
us and our contractors; our ability to comply with and obtain
permits related to the Stibnite Gold Project; actions to be taken
by the USFS, the State of Idaho
and other government agencies and regulatory bodies and the
expected results of their review; plans with respect to the
issuance of an SDEIS and any designations thereunder; the
anticipated timing for release of the SDEIS; predictions regarding
improvements to water quality and other environmental conditions at
the site; reduction of the Project footprint and the anticipated
benefits and other effects thereof; our and Ambri, Inc.'s ability
to perform under the supply agreement, which agreement is subject
to certain conditions, including identification of one or more
refiners to transform our antimony concentrate into antimony metal,
and mutual agreement on certain material terms, including volume
and pricing. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases or variations of such
words and phrases or statements such as "anticipate", "expect"
"plan", "likely", "believe", "intend", "forecast", "project",
"estimate", "potential", "could", "may", "will", "would" or
"should". In preparing the Forward-Looking Information in this news
release, Perpetua Resources has applied several material
assumptions, including, but not limited to, assumptions that the
current exploration, development, environmental and other
objectives concerning the Stibnite Gold Project can be achieved and
that its other corporate activities will proceed as expected; that
we and Ambri will be able to agree on the terms of the Ambri
agreement; that the general business and economic conditions will
not change in a materially adverse manner and that permitting and
operations costs will not materially increase; and that the
review process under the NEPA (including the review process
involving the USFS, any review process by the State of Idaho and other agencies and
regulatory bodies and consultation with Idaho tribes) as well as the public review
process and SDEIS will proceed in a timely manner and as expected;
and that all requisite information will be available in a timely
manner. Forward-Looking Information are based on certain material
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of Perpetua Resources to be materially different from
any future results, performance or achievements expressed or
implied by the Forward-Looking Information. Such risks and other
factors include, among others, changes in laws and regulations and
changes in the application of standards pursuant to existing laws
and regulations which may result in unforeseen results in the
permitting process; uncertainty surrounding input to be received
from regulators and community stakeholders; risks related to
unforeseen delays in the review process including availability of
personnel from the USFS, State of
Idaho and other stated, federal and local agencies and
regulatory bodies (including, but not limited to, future US
government shutdowns); risks related to opposition to the Project;
risks related to increased or unexpected costs in operations or the
permitting process; risks that estimates used in budgeting and
financial statements may prove to be incorrect; risks related to
the outcome of litigation and potential for delay of the Project,
as well as those factors discussed in Perpetua Resources' public
filings with the U.S. Securities and Exchange Commission (the
"SEC") and its Canadian disclosure record. Although Perpetua
Resources has attempted to identify important factors that could
affect Perpetua Resources and may cause actual actions, events or
results to differ materially from those described in
Forward-Looking Information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that Forward-Looking
Information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
Forward-Looking Information. For further information on
these and other risks and uncertainties that may affect the
Company's business, see the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of the Company's filings with the SEC, which
are available at www.sec.gov and with the Canadian securities
regulators, which are available at www.sedar.com. Except as
required by law, Perpetua Resources does not assume any obligation
to release publicly any revisions to Forward-Looking Information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
View original
content:https://www.prnewswire.com/news-releases/perpetua-resources-announces-stibnite-gold-project-moves-toward-public-review-301617897.html
SOURCE Perpetua Resources Corp.