TriStar Gold has secured approval of the Licença Prévia (LP) and the Environmental Impact Assessment for its Castelo de Sonhos gold project in Brazil from the Pará State Environmental Council (COEMA).
Holding a paleoplacer gold deposit, the Castelo de Sonhos gold project is around 20km from the town of Castelo de Sonhos.
The permit paves the way for the project’s advancement, subject to the formal issuance and gazettal by the Secretariat for the Environment and Sustainability (SEMAS).
TriStar noted that during the COEMA meeting, its presentation was met with a supportive response, leading to a unanimous vote in favour of the LP.
Formal issuance of the LP is now pending, reliant on SEMAS publishing the approval in the State of Pará’s official gazette.
While TriStar is optimistic about the LP’s formal issuance, the company acknowledges that there are no absolute guarantees.
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However, it has not identified specific risks that could potentially derail the process.
The development of the Castelo de Sonhos project is designed to enhance shareholder value, with future commitments outlined through the permitting activities.
TriStar emphasises that the project’s progression is closely tied to sustainable development efforts in the local community.
The company’s commitment to the region extends beyond the mining project.
It added that the project development goes hand in hand with its voluntary work in the local region.
TriStar CEO Nick Appleyard said: “Achieving a milestone like this is the culmination of a huge amount of work by our small and dedicated team.
“The work they have done has been outstanding in every regard. We are also thankful to the many people and organisations that have supported us including the Federation of Industries of Pará State, the Secretariat of Economic Development, Mining and Energy and the Professional Association of Geologists of the Amazon.”
