Paramount Gold Nevada Reports Approval of Two Additional Baseline Reports by Oregon State Regulators
January 15, 2019 at 07:00 AM EST
WINNEMUCCA, Nev., Jan. 15, 2019 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) ("Paramount” or “the Company”) announced today that the permitting process for its proposed Grassy Mountain Gold Mine continues to progress on schedule with the State’s Technical Review Team (“TRT”) having reviewed and accepted two additional baseline reports.
Paramount CEO, Glen van Treek commented: “The continuing acceptance of our baseline reports is extremely encouraging as we continue building on our momentum to get the proposed Grassy Mountain mine permitted with all regulatory authorities, Federal, State and County. We are on track to achieve our next permitting milestone with the filing of the Conditional Use Permit ('CUP') with the Malheur County Planning Department within days.”
The TRT has reviewed and accepted the Geology and Soils Baseline Data Report (“BDR”) as complete. This report characterizes the baseline conditions for a wide array of geologic factors which will be used in applications ranging from construction through to reclamation.
The Aquatic Resources BDR was also reviewed and accepted by the TRT which includes representatives of several State regulatory agencies: the Department of Fish and Wildlife; the Department of Environmental Quality; the Department of State Lands; and the DOGAMI. The Aquatics Resources BDR characterizes aquatic resources in the study area prior to the start of proposed mining operations.
A summary of all baseline data reports to date for the Grassy Mountain gold project are as follows:
These baseline reports are critical components of the Consolidated Permit Application which Paramount expects to file with DOGAMI later this year. The Bureau of Land Management also requires the baseline data reports for its Environmental Impact Statement.
About Paramount Gold Nevada Corp.
Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 11,000 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (100% located on private land) for which results of a positive PFS have been released and key permitting milestones accomplished (see press release dated May 24, 2018). Additionally, Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares).
Safe Harbor for Forward-Looking Statements
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.