Zephyr’s Dawson Gold Mine Opposed, Empress Royalty Receives Gold Stream from Sierra

The proposed Dawson Gold Mine that Zephyr Gold USA Ltd is planning to build outside Canon City had has irked conservationists and neighbors who argue that the project will threaten watershed, wildlife, and adjacent lands. 

Zephyr faces opposition for Canon City mine

According to its application, Zephyr plans to develop a 312-acre mine on private property 6 miles southwest of Canon City. Federal land surrounds the property bordering Grape Creek Wilderness Area and a few hundred yards from Dawson Ranch subdivision homes.  

Wild Connections conservation director John Sztukowski said, “We could eventually have a 4- to 5-mile underground mine under one of most intact wild and scenic lands in the state. This is a critical environmental concern. We see what’s happening at the Dawson site as step one.”

In recent years Zephyr has faced opposition to its exploratory drilling activities in the area, including Grape Creek Wilderness Study Area. Environmentalists have been opposed to its activities. This grew significantly last month following the company’s application for an underground mine permit to the Colorado Division of Mining, Reclamation, and Safety. In the coming weeks, the company will apply for a conditional use permit from Fremont County to build the mine in the Property. 

Empress Royalty receives revenue stream from Sierra 

Empress Royalty Corp has received the first revenue from the Peru-based Sierra Antapite gold mine. This revenue is part of the $10 million gold stream between the company, and Sierra Sun Group entered on July 28, 2021. The agreement is on payable gold production from the mine at around 20% of the price of gold

Alexandra Woodyer Sherron, Empress Royalty CEO, said, “Empress Royalty is now a revenue-generating royalty and streaming company. Achieving this milestone only eight months after publicly listing confirms our ability to deliver on our strategy. With a solid portfolio of investments and a strong pipeline, Empress will continue to increase revenue generation with corresponding value creation for our shareholder.”

The company stated that the stream they received was on 4.5% of payable gold produced for the initial 11,00 gold ounces and 1% after for mine life. 

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