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Treasury Metals’ Goliath Gold Project takes another step forward

Treasury Metals Inc.’s April 2015 Environmental Impact Statement (EIS) for the Goliath Gold Project near Dryden in northwestern Ontario has been deemed compliant with the Canadian Environmental Assessment Agency’s (CEAA) EIS Guidelines.

A public comment period took place from April 25 to May 24th, and included Aboriginal community and general public open house meetings led by the CEAA.

The provincial government has also begun technical reviews of the EIS.

Goliath is a high-grade open-pit gold deposit with a current resource estimate of 1.7 million ounces. The life of mine average feed grade is reported to be 2.87 g/t Au.

United Steelworkers (USW) Locals 6500 and 6200 representing Vale production and maintenance employees in Sudbury and Port Colborne have voted to accept a new five-year collective bargaining agreement.

The new agreement takes effect on June 1, 2015. Voting in favour of the agreement were 76.7 per cent of members in Sudbury and 87 per cent of members in Port Colborne.

“We are extremely pleased with the outcome,” said Mitch Medina, Vale’s lead negotiator. “A new five-year agreement, delivered a month before the old contract expires, points to a maturing in our labour relations. By the time the new contract expires in 2020 we will have enjoyed an unprecedented full decade of labour peace.”

The new five-year deal contains improvements in contract language, wages, benefits and pensions. USW Locals 6500 and 6200 represent 2,800 production and maintenance employees in Sudbury and Port Colborne.

Wages will increase in each year of the new agreement with cost-of-living (COLA) adjustments expected to add 44 cents per hour annually, or $ 2.20 per hour over the life of the agreement.
Each union member also receives a $4,500 signing bonus.

The new contract calls for substantial increases in contributions to employees’ pension plans. By the end of the collective agreement, the basic pension for a 30-year employee will be $3,750 per month.

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