Columbia Yukon Provides Update On Northwest Transmission Line Project
02 3월 2011 - 12:28AM
Marketwired
Columbia Yukon Explorations Inc. (the "Company" or "Columbia
Yukon") (TSX VENTURE: CYU)(FRANKFURT: VOR) is very pleased to
report that British Columbia Hydro and Power Authority ("BC Hydro")
has received an environmental assessment certificate for the
proposed Northwest Transmission Line project.
By Information Bulletin, issued by the British Columbia Ministry
of Environment on February 23, 2011, it was announced that
Environment Minister Murray Coell and Forests, Mines and Lands
Minister Pat Bell made the decision to grant the environmental
assessment certificate after considering the review led by B.C.'s
Environmental Assessment Office ("EAO"). The proposed $404-million
project includes a 287-kilovolt transmission line, 344-kilometres
from the existing Skeena substation south of Terrace to a new
substation near Bob Quinn Lake. The project would include new
access roads, an upgrade to the existing Skeena substation and
construction of the new Bob Quinn substation, which would
incorporate 287-kilovolt line terminations and related equipment.
The EAO assessment report concluded the project is not likely to
have significant adverse effects, based on the mitigation measures
and commitments included as conditions of the environmental
assessment certificate.
"We believe that progress on the Northwest Transmission Line
project will be very beneficial to the future development of the
Company's Storie Property molybdenum deposit located near Cassiar,
BC (via Hwy 37). The Northwest Transmission Line project approval
is a significant milestone for Columbia Yukon and others within the
region. The power transmission line project is expected to
stimulate much needed development in British Columbia's Northwest
region and will assist in the advancement of several significant
mineral resource deposits," said Ronald Coombes, President and CEO
of Columbia Yukon Explorations Inc.
The project also triggered an environmental assessment under the
Canadian Environmental Assessment Act. Under the Canada-British
Columbia Environmental Delegation Agreement, dated Nov. 6, 2010,
the federal environmental assessment was delegated to the EAO
pursuant to subsection 17(1) of the Canadian Environmental
Assessment Act. The EAO prepared a joint assessment
report/screening report for decision-makers. Based on this report,
the EAO has concluded that effects from the project are not
significant, subject to implementation of mitigation measures and
commitments agreed to by the proponent. Before the project can
proceed, the proponent will still need to obtain the necessary
provincial licences, leases and other approvals. The Province was
satisfied that the Crown's duties to consult and accommodate First
Nations interest and the Nisga'a Nation's treaty interests have
been discharged as they relate to the decision to grant the
environmental assessment certificate.
About Columbia Yukon Explorations Inc.
Columbia Yukon is a Canadian mineral exploration company focused
on the development of its Storie Property molybdenum deposit
situated about 6 km southwest of Cassiar, British Columbia. The
Storie Property molybdenum deposit has an April 2009 updated NI
43-101 compliant Measured and Indicated Resource of 139.82 million
tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39
million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off
of 0.030% Mo). Cassiar, British Columbia is located 15 km by road
west of Highway 37 which connects to Watson Lake, Yukon, to the
north and Dease Lake and Stewart, British Columbia, to the
south.
A copy of the full release as issued by the British Columbia
Ministry of Environment is available on the Company's website at
www.columbiayukon.com. Also, for additional information on matters
related to the Northwest Transmission Line project, please visit
the Northwest Power Line Coalition's website at
www.highway37.com.
Columbia Yukon Explorations Inc.
Ronald A. Coombes, President & CEO
Neither the 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.
Contacts: Columbia Yukon Explorations Inc. Mr. Clive Shallow
Investor Communications 604-922-2030 604-922-2037 (FAX)
info@columbiayukon.com www.columbiayukon.com
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