Paramount Gold Files Application for Conditional Use Permit for Its Proposed Grassy Mountain Gold Mine in Eastern Oregon
January 17, 2019 at 07:00 AM EST
WINNEMUCCA, Nev., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount”, or “the Company”) announced today that it has filed its application for the Conditional Use Permit (“CUP”) with the Planning Department of Malheur County for its proposed Grassy Mountain Gold Mine in eastern Oregon.
The CUP is the permit providing County approval for Paramount’s proposed land use for private (patented) land. The entire Grassy Mountain deposit and portions of the associated infrastructure for the proposed underground mine are located on Paramount’s 100% owned patented mining claims (see map below).
Paramount CEO, Glen Van Treek, commented: “We are thrilled with the progress of our permitting efforts to date and the co-operation we are getting from County, State and Federal regulators. The submission of the Conditional Use Permit is a major milestone for the project as we advance our high-grade Grassy Mountain gold mine towards production.”
The Conditional Use Permit has been submitted to the County’s Planning Department and will be reviewed at an upcoming monthly planning meeting. The planning department has 30 days to accept the permit application as complete. Given that criteria, we expect that the permit review process to accept the proposed land use will be heard at a public planning commission meeting held in March. The process includes an internal review of the proposed use for the land, a potential site visit and a public meeting. Paramount expects to receive the approval within the first half of 2019.
“Given the excellent support from community leaders and local organizations, as evidenced in multiple public community meetings and discussions during the DOGAMI process of compiling the data for the permit application, we are looking forward to a positive outcome from the County,” added Mr. Van Treek.
About Paramount Gold Nevada Corp.
Paramount Gold Nevada 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 into joint ventures with producers for construction and operation; or constructing and operating mines for its own account.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/29d6cd8e-3bb7-4cf4-81b0-31e1aab7792d