World News: 12:00 GMT Tuesday 14th January 2020. [Paramount Gold Nevada Corp. via Globe Newswire via SPi World News]
WINNEMUCCA, Nev., Jan. 14, 2020 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount”) announced today that it has received the Permit to appropriate water from the Oregon Water Resources Department for its proposed Grassy Mountain Gold Mine and processing facilities in eastern Oregon. This is the first Oregon State Agency permit issued as part of the consolidated permitting process initiated by Paramount in 2019.
This Permit describes the appropriation and use of 2 cubic feet per second (57 liters per second) of water within the Permit Area described in the Consolidated Permit Application. This Permit provides sufficient water for the proposed mining and processing operations throughout the mine life.
Paramount President and CEO Glen Van Treek stated: “This Permit, along with the previously received Conditional Use Permit, represents substantial, incremental success in the permitting process. The next milestone is the notice that our Application is complete, which triggers the evaluation of our permit application by State agencies. Once again, we are pleased to note the diligence and co-operation we have received from the State of Oregon.”
In , Paramount submitted the Consolidated Permit Application (State Permit) to the Oregon Department of Geology and Mineral Industries. Paramount previously received final approval for the Conditional Use Permit from Malheur County.
The Company is currently finalizing the Amended Plan of Operation that it will submit to the US Bureau of Land Management (“BLM”) thereby initiating the federal Permitting Process.
The NI 43-101 Feasibility Study (“Feasibility Study”) for the Grassy Mountain Project is well underway and being led by Ausenco Engineering Canada Inc. with expected completion in mid-2020.
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 ). 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).
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.
Globe Newswire: 12:00 GMT Tuesday 14th January 2020
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