Mayfair Gold accelerates Fenn-Gib gold project in Ontario

Mayfair Gold is advancing its Fenn-Gib gold project in the Timmins district of northeastern Ontario, Canada. The company plans to invest an estimated 450 million Canadian dollars to develop the site and necessary infrastructure, with a target to begin gold production by 2030.

The project has entered Ontario’s “One Project, One Process” (1P1P) accelerated permitting framework. This initiative, managed by the Ministry of Energy and Mines, bundles provincial approvals and authorizations into a single timeline, which could potentially halve the time required for the permitting process.

Financing for the project includes an initial investment of approximately 10 million Canadian dollars from Macquarie, with a credit of up to 300 million Canadian dollars reportedly nearing approval.