Oregon Approves Environmental Evaluation and Commences Permit Writing for Paramount’s High Grade Grassy Mountain Gold Mine
Paramount Gold Nevada Corp. (NYSE American: PZG) has announced a significant milestone for its Grassy Mountain gold mine project in Oregon. The Environmental Evaluation (EE) for the project has been approved as completed during a state Technical Review Team meeting on October 3rd. This approval initiates the 225-day legislated timeline for the issuance of draft permits.
The EE, produced by Stantec under DOGAMI's direction, marks the final step towards obtaining draft permits from the State of Oregon. The company expects to receive these draft permits in May 2025, followed by a public hearing before final permits are issued. This timeline aligns with the Federal record of decision from the BLM scheduled for late 2025.
The Grassy Mountain feasibility study projects an average annual production of 47,000 ounces of gold and 55,000 ounces of silver. At a gold price of $2,100 per ounce, the post-tax project NPV increases from $114 million to $189 million.
Paramount Gold Nevada Corp. (NYSE American: PZG) ha annunciato un traguardo significativo per il suo progetto minerario d'oro Grassy Mountain in Oregon. La Valutazione Ambientale (VA) per il progetto è stata approvata come completata durante una riunione del Team Tecnico di Revisione dello Stato il 3 ottobre. Questa approvazione avvia la tempistica legislativa di 225 giorni per il rilascio delle autorizzazioni preliminari.
La VA, realizzata da Stantec sotto la direzione di DOGAMI, rappresenta l'ultimo passo verso l'ottenimento delle autorizzazioni preliminari dallo Stato dell'Oregon. L'azienda si aspetta di ricevere queste autorizzazioni preliminari a maggio 2025, seguite da un'udienza pubblica prima del rilascio delle autorizzazioni finali. Questa tempistica è in linea con il documento decisionale federale del BLM previsto per la fine del 2025.
Lo studio di fattibilità di Grassy Mountain prevede una produzione media annua di 47.000 once d'oro e 55.000 once d'argento. A un prezzo dell'oro di $2,100 per oncia, l'NPV post-tasse del progetto aumenta da $114 milioni a $189 milioni.
Paramount Gold Nevada Corp. (NYSE American: PZG) ha anunciado un hito significativo para su proyecto de mina de oro Grassy Mountain en Oregón. La Evaluación Ambiental (EA) para el proyecto ha sido aprobada como completada durante una reunión del equipo técnico de revisión estatal el 3 de octubre. Esta aprobación inicia el plazo legislativo de 225 días para la emisión de permisos preliminares.
La EA, producida por Stantec bajo la dirección de DOGAMI, marca el paso final hacia la obtención de permisos preliminares del Estado de Oregón. La compañía espera recibir estos permisos preliminares en mayo de 2025, seguidos de una audiencia pública antes de que se emitan los permisos finales. Este plazo se alinea con el registro de decisión federal del BLM programado para finales de 2025.
El estudio de viabilidad de Grassy Mountain proyecta una producción media anual de 47,000 onzas de oro y 55,000 onzas de plata. A un precio del oro de $2,100 por onza, el NPV del proyecto después de impuestos aumenta de $114 millones a $189 millones.
파라마운트 골드 네바다 코퍼레이션 (NYSE American: PZG)은 오리건에 있는 그래시 마운틴 금 광산 프로젝트에 대한 중요한 이정표를 발표했습니다. 프로젝트에 대한 환경 평가(EE)는 10월 3일 주 기술 검토 팀 회의에서 완료로 승인되었습니다. 이 승인은 초안 허가 발급을 위한 225일 법정 일정을 시작합니다.
DOGAMI의 지침에 따라 Stantec이 작성한 EE는 오리건 주에서 초안 허가를 받기 위한 마지막 단계입니다. 회사는 2025년 5월에 이러한 초안 허가를 받을 것으로 예상하며, 최종 허가가 발급되기 전에 공청회가 열릴 예정입니다. 이 일정은 2025년 말 예정된 BLM의 연방 결정 기록과 일치합니다.
그래시 마운틴 타당성 연구는 연평균 47,000온스 금과 55,000온스 은 생산을 예상합니다. 금 가격이 온스당 $2,100일 때, 세후 프로젝트 NPV는 $1억 1400만에서 $1억 8900만으로 증가합니다.
Paramount Gold Nevada Corp. (NYSE American: PZG) a annoncé une étape importante pour son projet de mine d'or Grassy Mountain en Oregon. L'Évaluation Environnementale (EE) du projet a été approuvée comme étant terminée lors d'une réunion de l'équipe technique d'examen de l'État le 3 octobre. Cette approbation déclenche le délai législatif de 225 jours pour l'émission de permis préliminaires.
L'EE, produite par Stantec sous la direction de DOGAMI, représente la dernière étape vers l'obtention de permis préliminaires de l'État de l'Oregon. La société s'attend à recevoir ces permis préliminaires en mai 2025, suivis d'une audience publique avant l'émission des permis définitifs. Ce calendrier est en accord avec le dossier de décision fédéral du BLM prévu pour fin 2025.
La étude de faisabilité de Grassy Mountain projette une production annuelle moyenne de 47 000 onces d'or et 55 000 onces d'argent. À un prix de l'or de 2 100 $ par once, la VAN du projet après impôts passe de 114 millions $ à 189 millions $.
Paramount Gold Nevada Corp. (NYSE American: PZG) hat einen bedeutenden Meilenstein für sein Goldminenprojekt Grassy Mountain in Oregon angekündigt. Die Umweltbewertung (EB) für das Projekt wurde während eines Treffens des staatlichen technischen Überprüfungsteams am 3. Oktober als abgeschlossen genehmigt. Diese Genehmigung leitet den gesetzlich festgelegten Zeitrahmen von 225 Tagen für die Ausstellung von Entwurfsgenehmigungen ein.
Die von Stantec unter der Anleitung von DOGAMI erstellte EB markiert den letzten Schritt zur Erlangung von Entwurfsgenehmigungen vom Bundesstaat Oregon. Das Unternehmen erwartet, diese Entwurfsgenehmigungen im Mai 2025 zu erhalten, gefolgt von einer öffentlichen Anhörung, bevor die endgültigen Genehmigungen erteilt werden. Dieser Zeitrahmen stimmt mit dem bundesstaatlichen Entscheidungsprotokoll des BLM überein, das für Ende 2025 geplant ist.
Die Machbarkeitsstudie von Grassy Mountain prognostiziert eine durchschnittliche Jahresproduktion von 47.000 Unzen Gold und 55.000 Unzen Silber. Bei einem Goldpreis von 2.100 $ pro Unze steigt der NPV des Projekts nach Steuern von 114 Millionen $ auf 189 Millionen $.
- Environmental Evaluation (EE) for Grassy Mountain project approved, initiating 225-day timeline for draft permits
- Draft permits expected in May 2025, aligning with Federal record of decision timeline
- Feasibility study projects average annual production of 47,000 oz gold and 55,000 oz silver
- Post-tax project NPV increases from $114 million to $189 million at $2,100 gold price
- None.
Insights
The approval of the Environmental Evaluation (EE) for Paramount Gold Nevada Corp.'s Grassy Mountain project marks a significant milestone in the permitting process. This development initiates a 225-day timeline for draft permit issuance, aligning state and federal permitting processes.
The project's feasibility study, based on a
With draft permits expected in May 2025 and the final Record of Decision from the BLM scheduled for late 2025, Paramount is progressing towards potential production. However, investors should note that permitting processes can be complex and subject to delays. The project's economic viability appears promising, but it's contingent on favorable gold prices and successful permit acquisition.
The approval of Grassy Mountain's Environmental Evaluation by Oregon's Technical Review Team is a important step forward. This process, led by DOGAMI with input from state agencies and executed by Stantec, a reputable global consulting firm, suggests a thorough and credible environmental assessment.
The alignment of state and federal permitting timelines is particularly noteworthy. It indicates efficient coordination between different regulatory bodies, potentially reducing overall project delays. The scheduled public hearing following the draft permits issuance demonstrates commitment to stakeholder engagement and transparency.
However, investors should be aware that environmental permitting for gold mines can be contentious. While progress is positive, final approval is not guaranteed. The project's environmental impact and community response during the public hearing phase will be critical factors in the ultimate success of the permitting process.
WINNEMUCCA, Nev., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) is pleased to announce that during a state Technical Review Team (“TRT”) meeting on October 3rd, the Environmental Evaluation (“EE”) for the Grassy Mountain project was approved as completed. The approval marks the start of the 225-day legislated timeline for the issuance of draft permits.
The EE was produced by Stantec, a global leader in engineering, architecture, mining and environmental consulting under the direction of DOGAMI with input from state permitting agencies.
Paramount’s President, COO and Director, Mr. Glen Van Treek stated, “With the approval of the EE, Grassy Mountain has now entered the final step towards obtaining draft permits from the State of Oregon. We now look forward to the release of the Federal draft Environmental Impact Statement on track to be released in February 2025.”
The Grassy Mountain feasibility study, completed at a gold price of
Paramount CEO and Director, Rachel Goldman, commented, “Based on the information provided at the TRT meeting we expect to receive draft permits in May 2025 which will then be followed by a public hearing prior to the issuance of final permits, aligning the state permitting timeline with the Federal record of decision (“RoD”) from the BLM scheduled for late 2025”.
About Paramount Gold Nevada Corp.
Paramount Gold Nevada Corp. is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering joint ventures with producers for construction and operation; or constructing and operating mines for its own account. Additional information about Paramount Gold’s portfolio of assets is available at www.paramountnevada.com or by email at info@paramountnevada.com.
Paramount holds a
The Grassy Mountain Gold Project ("Grassy") consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. Grassy contains a gold-silver deposit (
The Sleeper Gold Project is in Northern Nevada, the world’s premier mining jurisdiction. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,474 unpatented mining claims (approximately 44,917 acres).
The drill ready, Bald Peak Project in Nevada, consists of approximately 2,260 acres.
Safe Harbor for Forward-Looking Statements
This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions are intended to identify forward-looking statements, although these words may not be present in all forward-looking statements. Forward-looking statements included in this news release include, without limitation, statements with respect to the use of proceeds from the Offerings. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the conclusions made in the feasibility study for the Grassy Mountain Gold Project (the “FS”); the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in the FS; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals and permits; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results; environmental matters; the ability to obtain required permitting; equipment breakdown or disruptions; additional financing requirements; the completion of a definitive feasibility study for the Grassy Mountain Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs and between estimated and actual production; the global epidemics, pandemics, or other public health crises, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario, British Columbia and Alberta Securities Commissions.
Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.
Paramount Gold Nevada Corp.
Rachel Goldman, CEO and Director
Christos Theodossiou, Director of Corporate Communications
844.488.2233
Twitter: @ParamountNV
FAQ
What is the current status of Paramount Gold Nevada's Grassy Mountain project?
When does Paramount Gold Nevada (PZG) expect to receive draft permits for the Grassy Mountain project?
What is the projected annual production for the Grassy Mountain gold mine?
How does the gold price affect the Grassy Mountain project's NPV for Paramount Gold Nevada (PZG)?
