Business
Spanish Mountain Gold Announces New Power Line to Site is Advancing
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2025) - Spanish Mountain Gold Ltd. (T...
About this update from Spanish Mountain Gold Ltd.
[{"type":"text","content":"Spanish Mountain Gold Announces New Power Line to Site is AdvancingVancouver, British Columbia--(Newsfile Corp. - January 20, 2025) - Spanish Mountain Gold Ltd. (TSXV: SPA) (FSE: S3Y) (OTC Pink: SPAZF) (the \"Company\" or \"Spanish Mountain Gold\") is pleased to announce commencement of Stage 2 of the System Impact Study (\"SIS\") with BC Hydro (the provincial utility company) for a proposed new power line to the project. The SIS is part of BC Hydro's power supply interconnection process to provide 60 mega-watts (MW) of renewable hydroelectric power to the Spanish Mountain Gold project (the \"SMG Project\"), located in the Cariboo Gold Corridor, British Columbia, Canada. BC Hydro's scope of work includes construction of a new power substation to connect SMG's planned 75 kilometre 230 kilovolt (kV) transmission line, to the BC Hydro grid. Peter Mah, Spanish Mountain Gold's President & CEO commented, \"We have made excellent progress in 2024 completing Stage 1 of the SIS (part of the BC Hydro interconnection process). We are excited to announce we are advancing to Stage 2 - Conceptual Design of the SIS, which will bring us another step closer to a build decision by 2027. Renewable hydro electricity supplied from BC Hydro is the cleanest energy source currently available for the project that supports our objectives of securing a low cost, clean power supply that could support a larger scale operation compared to the 2021 Pre-feasibility Study, lower the project's carbon intensity and reduce green-house gas emissions.\" The SIS is an important step in securing a renewable power supply for the SMG Project, which could enable project improvements such as the electrification of the mining fleet, increased mineral processing throughput, as well as other potential opportunities including, waste and tailings storage, water management and mine closure benefits. Many of these opportunities are being assessed as part of the Whittle Enterprise Optimization with a goal to improve project economics. International Technology Group ANDRITZ's work targeting energy reduction and sustainability has been completed and the results will be utilized for the Preliminary Economic Assessment (\"PEA\") proposed mine trade-offs (see press releases dated December 22, 2023, and May 24, 2024, respectively).About Spanish Mountain Gold Ltd.Spanish Mountain Go...