Mayfair Gold (TSXV: MFG) has had its Fenn-Gib gold project selected under Ontario’s One Project, One Process framework, the province’s new fast track permitting regime for mines.
The designation puts Fenn-Gib on a single, coordinated provincial timeline. The project will no longer move through separate permitting, authorization and approval processes across several ministries. Instead, the Ministry of Energy and Mines’ Mine Authorization and Permitting Delivery Team will act as its single point of contact and will also coordinate Indigenous consultation at the project level. The province says the framework can cut review times in half.
The framework runs alongside the provincial Class Environmental Assessment process and doesn’t replace it. Mayfair noted that the Crown’s constitutional duty to consult stays fully in place.
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The main effect is on the schedule. Mayfair now expects to secure the permits it needs for a construction decision as early as 2028, with commercial operations possible as early as 2030.
“Our designation under the 1P1P framework recognizes the rigorous work completed to date and the quality of the baseline data our team has collected, compiled, and interpreted in support of the Fenn-Gib Gold Project,” said Chief Executive Officer Drew Anwyll. He added that the company looks forward to working with the Apitipi Anicinapek Nation as the project moves through permitting.
Ruben Wallin, Mayfair’s senior vice president of sustainability, called the designation “an important milestone for the project and the company.”
Energy and Mines Minister Stephen Lecce presented the program as the answer to a long-standing bottleneck. “For too long, permitting delays stood in the way of getting Ontario’s resources to market,” he said. Lecce added that the government plans to speed up permitting further this fall. He also said Fenn-Gib is expected to create more than 700 jobs and add about $3 billion to Ontario’s GDP.
Fenn-Gib is located in northern Ontario. It hosts a probable reserve of roughly 1 million ounces grading 1.29 g/t gold, within a broader indicated resource of 4.3 million ounces. Mayfair’s 2026 prefeasibility study outlined a net present value of $652 million and suggests a payback period of 2.7 years at a gold price of US$3,100 per ounce, which is based on annual production of 64,096 ounces of gold.
Mayfair Gold last traded at $3.10 on the TSX Venture.
