Paramount Gold Nevada Corp. - PZG STOCK NEWS

Paramount Gold Nevada Corp. (NYSE American: PZG) has submitted a modified Consolidated Permit Application to the State of Oregon for its proposed Grassy Mountain gold mine. CEO Rachel Goldman expressed optimism about achieving administrative completeness, marking a potential milestone for modern mining in Oregon. The submission addresses prior completeness review recommendations and includes enhancements based on mine design optimizations. The project is expected to yield significant production, with an initial eight-year mine life producing 362,000 ounces of gold and cash costs of $583 per ounce.

Paramount Gold Nevada Corp. has initiated the final phase of permitting for its Grassy Mountain gold mine project in Eastern Oregon by submitting a modified Plan of Operation to the Bureau of Land Management (BLM). This submission addresses feedback from the BLM and state agencies based on a recent Feasibility Study. Once deemed complete, the BLM will register a Notice of Intent, triggering an Environmental Impact Statement (EIS) process expected to take approximately 12 months. The company expects to submit a modified Consolidated Permit Application before year-end.

Paramount Gold Nevada Corp. (PZG) held its annual general meeting on December 9, 2021, with 50.06% of shares voting. Seven directors were elected, including Rudi Fronk and Glen Van Treek. The meeting also ratified MNP LLP as independent accountants with 98.73% approval. An amendment to the 2016 stock incentive plan was approved by 81.00% of shareholders. Paramount holds a 100% interest in four gold projects, including Grassy Mountain, which has shown positive feasibility results, and Sleeper, with over 4 million ounces of mineralized material.

Paramount Gold Nevada Corp. (PZG) announced the commencement of a reverse circulation drill program at the Sleeper Gold Project, aiming to uncover high-grade gold deposits. This initiative follows a thorough analysis of historical data, allowing the team to identify multiple drill targets. The project, previously operated by AMAX Gold, produced significant gold and silver. Currently, it hosts a large low-grade resource. The initial drilling program spans approximately 8,000 feet, focused on promising geological structures believed to facilitate mineralization.

Paramount Gold Nevada Corp. (PZG) announced promising assay results from the Bald Peak Project in Nevada, revealing an average of 2.62 g/T gold and 4.2 g/T silver from 44 surface samples. Notably, some samples reached as high as 10.85 g/T gold. The findings align with a significant resistivity anomaly detected at approximately 300 feet depth, suggesting potential for an open-pit gold deposit. This data will inform the initial drilling program planned for next year, indicating a positive outlook for the project.

Paramount Gold Nevada Corp. (NYSE American: PZG) has initiated a drilling program at its Frost project, located 12 miles from the Grassy Mountain gold project in Oregon. Permits were obtained in April 2021, allowing for a 15-hole reverse circulation program totaling 9,000 feet to explore the potential of the Frost site. The proximity to the Grassy Mountain project could enhance project economics by allowing mineralized material to be processed at Grassy. Historical drilling indicated significant gold and silver grades, presenting a promising opportunity for resource expansion.

Paramount Gold Nevada Corp. (NYSE American: PZG) has announced the acquisition of a 100% interest in the Bald Peak Project, located in Nevada. The purchase, valued at $300,000, outlines a timeline for payments including $20,000 at closing and subsequent payments tied to drilling permits. The Bald Peak Project, part of a prolific mining district, shows high-grade surface rock samples exceeding 8 g/T gold. Paramount plans to conduct geological surveys to identify drilling targets, bolstering its precious metals portfolio.

Paramount Gold Nevada Corp. (NYSE American: PZG) announced that the Malheur County Planning Commission has approved a two-year extension for the Conditional Use Permit (CUP) for the Grassy Mountain underground mine in Oregon, now valid through May 2023. This permit is crucial for starting construction on the mine, alongside federal and state permits. The approval follows significant community support highlighting job creation and investment in the area. CEO Rachel Goldman expressed optimism regarding the ongoing support and the project's advancement towards production.