Banks Island Gold pushes back against media reports
Banks Island Gold says production has not been halted at its Yellow Giant Gold project but "significantly impacted" by orders from the provincial government after the company was found to have violated pollution regulations.
Earlier this month the company received a pollution abatement order due to some water spill with sedimentation.
There have been several media reports published in recent days by Global News, Vancouver Sun, and other outlets. In response to these reports the Company provides the following;
- Media is reporting that the Yellow Giant Mine is "closed" and/or "shut down". These statements are incorrect. The Company is continuing processing of Tel mineralization but production has been significantly impacted by the events previous disclosed in our news releases.
- Media is displaying photos of the Bob underground mine and labeling it as a "tailings pond". The photo shows the Bob mining stope which has failed to surface. The Company does not have any tailings dams or tailings ponds at Yellow Giant mine and is one of the only operations in Canada, to our knowledge, which is able to dispose of all tailings underground due to the use of pre-concentration as part of its processing.
- Media is reporting a spill of "toxic" tailings. Information regarding this spill was disclosed by the Company via new release on July 24th. Toxicity testing of the water spilled at Bob indicated 100% survival of Rainbow Trout and Daphnia Magna. This testing is an industry standard test which shows this water is non-toxic to aquatic life.
Banks Island Gold says it cannot provide information on scheduled production other than to say that ". . . this delay will have a significant impact in production and gold sales for July."