MISSISSAUGA, Ontario, July 27, 2020 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V: CCB) is pleased to announce that a significant milestone has been obtained regarding its Miller Project located in Grenville-sur-la-Rouge, Québec.
The Commission de la Protection du Territoire Agricole du Québec (“CPTAQ”) has delivered a conditional positive preliminary orientation. The document which includes the list of conditions is accessible on the CPTAQ website and on the Company’s website at www.canadacarbon.comA preliminary orientation enables the CPTAQ to communicate its intentions regarding its future decision so that stakeholders to the project can provide additional information which could impact the final decision of the CPTAQ. Since submitting its application to the CPTAQ in 2016, Canada Carbon has provided extensive third-party reports addressing the geological, hydrogeological, hydrological, economical, ecological and forest management impacts of the Miller Project.Executive Chairman and CEO, R. Bruce Duncan, said: “We are pleased that the Miller Project is advancing. We knew that one of the main concerns of the stakeholders to the Project was maple bush potential so we took great pains to ensure that we limited our impact in that regard. The restoration plan that we developed aims to improve the maple bush potential of the Project lands compared to what exists today. The Company will continue its progress towards the permitting of the Project and will evaluate the next necessary steps to advance the Project toward production.”In its preliminary positive orientation, the CPTAQ had made the following observations:The soil located at the Miller Project is shallow and has low potential for crop development. The Miller property has unfavorable topography as well as strong rock content at surface.The potential of silviculture over the Project is categorized as class 2, 3 and 5.The closest animal husbandry is located 3km away from the Project.While the proposed Miller Project will cut young maples over an area of 23 hectares, the maple bush management plan developed by the CCB consultants will allow additional maple bush planting, which will increase the maple bush potential and enable faster maple production. The CPTAQ specified that there will be an improvement in the agricultural usage of the land once the proposed recovery plan is completed.The CPTAQ considers that the maple bush population located outside of the Project boundaries are at a sufficient distance as to not be affected by the exploitation.The CPTAQ’s preliminary positive orientation limits Canada Carbon’s activities to only the land designated in its application as being needed for planned activities.The CPTAQ acknowledged that it has received comments from some stakeholders regarding the potential negative impact of the Miller Project on water reserves, light and sound pollution, and dust emissions however it notes that those issues will be addressed by other governing bodies in the permitting process.The CPTAQ has previously authorized a quarry to ABC Rive-Nord Inc, located 900 m east of the Miller Project in 2005.The CPTAQ authorized, with conditions, another exploitation site located 1,200m east of the Miller Project in 2020.The CPTAQ has set out the following conditions/requirements in its preliminary positive orientation:The authorization would be for a period of 25 years.The authorization is restricted to only those areas within the application submitted by Canada Carbon as being required for activities.Within six months of the final CPTAQ authorization, a deposit of $360,000 must be made to the CPTAQ as a guarantee.An agronomist will supervise the work done on the Project. Within six months of the CPTAQ authorization, the Company will have to provide proof of such a mandate to an agronomist.The management plan for silviculture will have to be supervised by a forestry engineer. Within six months of the CPTAQ authorization, Canada Carbon will have to provide proof of such a mandate to a forestry engineer.The proposed forest management plan submitted to the CPTAQ will need to begin at the start of the Project. The Company is required to replant maples in an area covering 23 hectares.Every two years after the delivery of the authorization, and at the end of the authorization period, a report prepared by an agronomist will have to be provided to the CPTAQ which will contain technical information about soils and their storage. A report on the maple bush management will also have to be done every two years, up to 5 years following the end of the authorization.Topsoil and overburden will have to be stored in specific piles.The plan for the topographic profile submitted to the CPTAQ must be followed.Surface drainage must be maintained at the site and at neighboring sites.As soon as areas are available for recovery, the Company will start its recovery and closure plans.The mine closure and site recovery will have to be completed by the end of the authorization period.The CPTAQ states that these conditions are mitigation measures to limit the impact on the surrounding territory and agricultural activities as well as allowing the return to agricultural activity at the end of the exploitation.The CPTAQ made public its preliminary positive orientation on July 20, 2020. As part of the review process, the CPTAQ allows 30 days following its orientation for interested parties to submit any additional information related to the Project. In addition, any party can also send a written notice to the CPTAQ to request a public meeting with the CPTAQ. The party will have up to 10 days prior to the meeting to provide the CPTAQ with the documents to be discussed during the public meeting. A final decision will be rendered by the CPTAQ following the public meeting.CANADA CARBON INC.
“R. Bruce Duncan” CEO and DirectorContact Information
E-mail inquiries: info@canadacarbon.com
P: (416) 903-8408“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Bay Street News