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Mayfair Gold’s Fenn-Gib to become Canada’s First Carbon Neutral Gold Project
VANCOUVER, British Columbia, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTC: MFGCF) is pleased to announce p
About this update from Mayfair Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Mayfair Gold Corp. (“Mayfair” or the “Company”) (TSX-V: MFG; OTC: MFGCF) is pleased to announce plans for the 100%-owned Fenn-Gib project (“Fenn-Gib”) to become Canada’s first carbon neutral gold project. Mayfair will be partnering with a leading sustainability advisor to record carbon emissions at Fenn-Gib and the impact of the limited land clearing to design appropriate offsets for the duration of the project’s exploration phase. Mayfair Gold President and CEO Patrick Evans commented: “The mining industry contributes approx. 3% of global CO2 emissions. Mayfair Gold, like all resource companies, has a responsibility to reduce carbon emissions from operations. We take this responsibility very seriously. Our vision is for Fenn-Gib to become Canada’s first net zero carbon gold project. Our commitment starts immediately during the project’s exploration phase and will continue as we embark on the pre-feasibility study in early 2022 for the initial mine design. As a carbon neutral gold operation, Fenn-Gib will account for all carbon emissions over the life of the project and, to the greatest extent possible, aim for zero emissions.” To achieve carbon neutrality, Mayfair aims to design a project that relies principally on renewable energy sources. With a major Ontario hydropower line traversing the 4,800 ha Fenn-Gib property, Mayfair is well placed to take advantage of renewable energy. A high voltage transformer station is located at Ramore, a short distance to the southwest of Fenn-Gib. For the typical conventional mine, the mobile fleet contributes approx. 50% of the greenhouse gas (“GHG”) emissions. The technology already exists to design and build the entire mobile fleet based on battery electric or fuel cell electric motors. Process plants contribute about 30% of GHG emissions at a conventional mine. Reliance on renewable energy, such a hydroelectric sources (which are abundant and competitively priced in northern Ontario), will make a significant contribution to reduced GHG emissions. With engineering advances being made, it is estimated that the total cost of ownership for battery electric vehicles will be approx. 20% lower than comparable diesel vehicles. Maintenance costs are expected to be reduced up to 30%, and fuel costs reduced up to 60%. Mayfair believes th...