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TriStar Gold Inc. reports developments tied to its precious-metals exploration and development business, with its flagship Castelo de Sonhos gold project in Pará State, Brazil as the central operating focus. Company updates cover technical reports, prefeasibility study work, project economics, mineral-project disclosure under National Instrument 43-101, and plans for advancing the project through permitting and feasibility work.
Recurring news also addresses environmental licensing, Brazilian regulatory processes, and court proceedings involving the Castelo de Sonhos project. Updates have described the role of the Pará environmental regulator, the project’s preliminary licensing status, and legal issues raised by federal authorities concerning Indigenous consultation and environmental review.
TriStar Gold announces key board changes with Marcus Brewster joining as Director while stepping down as COO effective December 4, 2024. Mark Jones III has been appointed Chairman Emeritus in recognition of his founding role and past service as CEO. Brewster, a geologist and mining engineer with extensive experience in paleoplacer gold mines, will be formally appointed following the AGM on December 2, 2024. The company is currently working on responding to prosecutors' requests regarding the Prior License for the Castelo de Sonhos gold project in Pará State, issued in August 2024.
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) has acknowledged recommendations from a Federal Public Prosecutor regarding the recently issued Preliminary License (LP) for the Castelo de Sonhos gold project in Brazil. These non-binding recommendations, directed at various government regulators, suggest suspending the LP pending additional archaeological and Indigenous Component Studies.
The company is confident in the comprehensive process used to obtain the LP, citing strong stakeholder support evidenced at a well-attended and positive public hearing in 2023. TriStar is addressing the concerns raised and is in contact with relevant authorities. The company believes that some of the MPF's technical concerns are already addressed in the LP's conditions.
CEO Nick Appleyard stated that while these concerns could have been discussed earlier, the company remains confident in the robustness of their Environmental Impact Assessment and the project's potential benefits to the community. TriStar is cooperating with all parties to resolve concerns quickly.
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) has received the Licença Prévia (Preliminary License or LP) for its Castelo de Sonhos gold project in Brazil from the Pará Secretariat for the Environment and Sustainability (SEMAS). This milestone significantly derisks the project and positions TriStar for advancement to the feasibility study stage. The LP, the first of a three-stage environmental licensing process, is important as it involves approval from various government agencies and stakeholders.
CEO Nick Appleyard views Castelo de Sonhos as potentially the next 100,000+ ounce per year gold mine in Brazil. The company plans to proceed with de-risking studies, including feasibility and advanced engineering, leading to a construction development decision. TriStar will host a webinar on September 5th to discuss this development. Additionally, the company has granted 3,250,000 incentive stock options to directors, officers, employees, and consultants at $0.195 per share, expiring on August 28, 2029.
TriStar Gold (TSGZF) announced that the Pará State Environmental Council (COEMA) approved the Preliminary License (LP) and Environmental Impact Assessment (EIA) for its Castelo de Sonhos gold project in Brazil on June 11, 2024. The final issuance of the LP awaits internal processes by the Secretariat for the Environment and Sustainability (SEMAS). The approval was unanimous and follows extensive efforts by TriStar's team and support from various local organizations.
CEO Nick Appleyard praised the team and highlighted the project's potential to unlock shareholder value, alongside their commitment to sustainable development in the region. TriStar's shares trade on the TSX Venture Exchange (TSG) and OTCQB (TSGZF).
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