STLLR Gold (TSX: STLR) has made history as the first company to receive a permit under the new Recovery of Minerals regime in Ontario. The new framework, which is focused on streamlining and accelerating approvals for mineral recovery and remediation of historic mine sites, has seen the first permit issued to STLLR for their Hollinger Tailings Project.
“Our government is moving with speed to build mines faster and accelerate permitting to grow our economy. We are delivering on this mission as we issue Ontario’s first-ever Recovery of Minerals permit, adding value to Canada’s economy, environment, and supply chain. Our new framework cuts red tape and turns legacy mine sites into engines of economic growth and stewardship,” commented Stephen Lecce, Minister of Energy and Mines for Ontario.
Found in the Timmins Mining Camp, the Hollinger Tailings Project centers around the historic Hollinger Mine, which historically produced 19 million ounces of gold. The project currently boasts a resource estimate of 412,000 ounces of indicated gold at 0.35 g/t, and a further 93,000 ounces of gold at 0.37 g/t exist in the inferred category. The project has been position as a near term cash flow opportunity for STLLR.
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“As the first company in the province to secure a permit under this new system, we believe this achievement highlights both the quality of the Hollinger opportunity and our team’s ability to execute. It also signals strong regulatory alignment and momentum as we advance the project,” commented Keyvan Salehi, CEO of STLLR.
“We see Hollinger as a rare “triple win.” It offers the potential to generate substantial near-term cash flows, responsibly remediate a historical site, and create long-term economic benefits for Timmins and surrounding communities.”
The company is said to be in discussion with local mill owners as part of an effort to advance the project to production. No timeline has been established for when production may begin at the project. In the near term, STLLR is expected to conduct further technical work at the project.
STLLR Gold last traded at $1.58 on the TSX.
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