BOISE,
ID, Oct. 24, 2022 /CNW/ - Perpetua Resources
Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or the "Company") announced today the summer 2022 field
program to initiate water quality improvements in the historical
Stibnite mining district is complete. After 100 years of mining
activity, the millions of tons of unconstrained tailings and mine
waste left behind by previous operators has been degrading water
quality for decades. Perpetua was granted permission to take action
to address the most pressing water quality concerns through an
agreement signed in 2021 between the Company, the Environmental
Protection Agency ("EPA") and the United States Department of
Agriculture ("USDA").
The 2022 field program included:
- Lining and improving the existing Hennessy Creek diversion channel around the
Northwest Bradley Waste Rock Dumps to prevent leakage into the
dumps and the resulting uptake of metals.
- Removing legacy waste from the Defense Minerals Exploration
Administration ("DMEA") waste rock dump from within and along a
tributary to the East Fork of the South Fork of the Salmon River
and restoring the original streamflow course.
- Creating a lined diversion for surface water that previously
contacted with legacy contamination around Smelter Flats, the
former mill and smelter site used by past operators.
The next environmental improvements are expected to include the
relocation of at least 325,000 tons of historical tailings and mine
waste away from the East Fork of the South Fork of the Salmon River
in 2023.
"We did not create the contamination that has degraded water
quality in the historic Stibnite Mining District for decades, but
are committed to be part of the solution," said Laurel Sayer, CEO of Perpetua Resources.
"Isolating streams away from historically contaminated material is
a first step in fulfilling our goal of leaving the area better than
it is today and demonstrates that responsible partnerships with
private industry can benefit the environment and people of
Idaho."
Perpetua worked with the EPA and the USDA for more than three
years to receive permission to conduct time critical, early action
cleanup activities. In 2021, Perpetua Resources, the EPA and USDA
signed an Administrative Settlement Agreement and Order on Consent,
giving Perpetua the opportunity to voluntarily clean up key areas
of the historical Stibnite mining district that would not otherwise
be remedied by the additional legacy restoration proposed in the
Stibnite Gold Project. Phase One of the Agreement provides a
four-year period to conduct "time critical" cleanup actions
designed to improve water quality. The remaining phases in the
Agreement would allow for a more comprehensive remediation of the
historical mining district should the Stibnite Gold Project receive
permission to proceed upon conclusion of the National Environmental
Policy Act ("NEPA") review.
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 State of Idaho and other
government agencies and regulatory bodies; predictions regarding
improvements to water quality and other environmental conditions at
the site, including with respect to process and timing of such
improvements; 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 the review process under
the NEPA (including any joint review process involving the
USFS, the State of Idaho and
other agencies and regulatory bodies) 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 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.
Website: www.perpetuaresources.com
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SOURCE Perpetua Resources Corp.