Oct 20 2015
Abacus Mining & Exploration Corporation ("Abacus" or the "Company") announces that following the recent submission of the Environmental Assessment Application/Environmental Impact Statement (EA Application/EIS) for the Ajax Copper-Gold Project in September 2015, KGHM Ajax Mining Inc. (KGHM Ajax) will focus the majority of work in 2016 on obtaining the Environmental Assessment Certificate and permits required for construction start-up of the Ajax mine. The Ajax Project located near Kamloops, B.C. is 100% owned by KGHM-Ajax, a joint venture between Abacus (20%), and KGHM Polska Miedz SA (KGHM) (80%).
Over the past two years, KGHM Ajax has spent significant capital in the development of the Ajax Project in a rapidly paced work program that has included various optimization trade-off studies, drilling to confirm and improve the block model, engineering and redesigning of the mine plan, as well as the completion of a robust EA Application/EIS.
Given the advanced stage of the Project's engineering, the emphasis is now being placed on the process of obtaining the needed permits to operate and construct the Ajax mine. The EA Application/EIS was accepted for screening on September 14, 2015, a review period that was contemplated to take thirty days. In response to a request by local First Nations groups to the BC Environmental Assessment Office (BCEAO), an extension has been granted by KGHM Ajax for an additional thirty-eight days for screening review to accommodate First Nations' comments and concerns, and to finalize the screening process.
KGHM Ajax will continue to work constructively with the BCEAO, local First Nations and all regulatory and Working Group members throughout the review phases of the environmental assessment process. Following the completeness review and any revisions required by the BCEAO, the EA Application/EIS will be submitted for technical review by the regulators, at which time it will be made available to the public. The review process is expected to conclude in late 2016.
Further information on the Ajax Project is available on the Company's website at www.amemining.com.
On Behalf of the Board,
ABACUS MINING & EXPLORATION CORPORATION
Michael McInnis
Chairman, President & CEO
Source: http://www.amemining.com/