Plan of Operations for the Grassy Mountain Gold Mine in Malheur County Oregon is Deemed Complete by the Federal BLM
Paramount Gold Nevada Corp. (PZG) announced that the Federal Bureau of Land Management has accepted its Plan of Operations for the Grassy Mountain gold mine in Oregon, marking a significant permitting milestone. With this acceptance, the Environmental Impact Statement process will commence, analyzing the mine's potential environmental impacts. The company is advancing through all requisite permitting levels, having secured county-level permits and progressing through state-level permitting. This move brings Paramount closer to a construction decision for the high-grade underground mine.
- Plan of Operations accepted by the BLM marks a critical milestone for the Grassy Mountain gold mine.
- Initiation of the Environmental Impact Statement process supports further development.
- All county permits received, with state-level permitting well advanced.
- None.
WINNEMUCCA, Nev., Nov. 29, 2022 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) is pleased to announce that the Federal Bureau of Land Management (“BLM”) has accepted the Plan of Operations (the “Plan”) for the proposed high-grade underground Grassy Mountain gold mine in eastern Oregon as complete.
With completeness, the BLM will issue a Notice of Intent thereby initiating the Environmental Impact Statement (“EIS”) process under the National Environmental Policy Act (“NEPA”). The EIS is a comprehensive analysis of the impact of the proposed mine on the environment. The EIS culminates in the Record of Decision that sets out the BLM’s decision regarding the proposed mining operations.
Glen Van Treek, the Company’s President and COO, stated, “Our ongoing collaboration with the BLM over several years has allowed us to achieve this permitting milestone which is a first for a gold mine and recovery facility in Oregon, and advances Grassy one important step closer to a construction decision.”
The BLM has selected HDR Inc, out of Boise, Idaho, to complete the EIS. HDR’s knowledge of the proposed Grassy operation has been informed by numerous field visits in conjunction with their review of the Plan.
The Grassy Mountain Gold project has been progressing through three levels of permitting to reach a construction decision. With the Plan achieving Federal completeness allowing for the commencement of the EIS, and all county level permits having been received, the focus for the company continues to be the state level permitting which is well advanced and proceeding in a public forum.
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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.
Paramount holds a
The Grassy Mountain Gold Project consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (
Frost is comprised of 84 unpatented lode claims covering approximately 1,730 acres located 12 miles southwest of the Company’s proposed high-grade, underground Grassy Mountain gold mine in Malheur County, Oregon (“Grassy”). An initial drill program is ongoing.
The Sleeper Gold Project is located 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 newly acquired Bald Peak Project consists of approximately 2,260 acres located in the Aurora mining district of Mineral County, Nevada.
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, Chief Executive Officer
Christos Theodossiou, Director of Corporate Communications
844-488-2233
Twitter: @ParamountNV
FAQ
What significant milestone was achieved by Paramount Gold Nevada Corp. regarding the Grassy Mountain project?
What is the next step following the acceptance of the Plan of Operations for PZG?
What permits have been secured by Paramount Gold for the Grassy Mountain project?
Where is the proposed Grassy Mountain gold mine located?
