LAKEWOOD, Colo., Aug. 20, 2015 /PRNewswire/ -- Pershing Gold
Corporation (NASDAQ: PGLC) (FWB: 7PG1) ("Pershing Gold" or the
"Company") is pleased to announce that the Winnemucca District, Humboldt River Field
Office of the U.S. Bureau of Land Management ("BLM") has initiated
a 30-day public scoping period to seek public comments on Pershing
Gold's proposed Plan of Operations Modification related to an
expansion of the Relief Canyon Mine. BLM issued a news release on
August 14, 2015, (see:
http://www.blm.gov/nv/st/en/info/newsroom/2015/august/winnemucca__blm_announces.html),
which serves as the official commencement of the public scoping
period.
"We are pleased that BLM has started the public comment period
and the process to evaluate our Plan of Operations Modification for
the Relief Canyon Mine Expansion," stated Stephen Alfers, Chairman, CEO, and President of
Pershing Gold. "We look forward to working with BLM as they review
our proposed expansion plan and conduct the required environmental
review."
Pershing Gold's Plan of Operations Modification includes the
following proposed activities:
- Expand the footprint of the existing pit area by approximately
68.3 acres (41.2 public, 27.1 private);
- Develop a new waste rock storage area (Waste Rock Area 5) on
95.7 acres of private land;
- Improve the closure design for the old heaps by covering them
with approximately three feet of overburden and waste rock, which
will serve as a hold and release type of evapotranspiration
cover;
- Drill one or more new water supply wells as necessary to
augment or replace the existing wells which will be impacted by
mining activities;
- Install additional piezometers as necessary to augment the
existing array or replace some piezometers which will be impacted
by mining activities;
- Improve site communications by installing radio repeater
hardware;
- Add wireless links to the production wells, crushing systems
and process plant;
- Construct new growth media stockpiles, diversion ditches for
storm water control, and reconfigure certain roads and fence lines
necessary for the expanded facilities;
- Construct new exploration drill roads and sites;
- Construct an on-site analytical laboratory;
- Relocate and expand the on-site warehouse facilities;
- Develop a new on-site Class III landfill that will be
integrated into Waste Rock Storage Area 5;
- Potentially process ores from other sites on the existing heap
leach facilities (toll leaching); and
- Close and reclaim all project facilities at the completion of
the operation.
BLM's news release invites the public to submit written comments
on the Plan of Operations Modification within 30 days to
Lorence Busker, BLM's Project Lead,
at 5100 E. Winnemucca Boulevard, Winnemucca, NV 89445 or e-mail: wfoweb@blm.gov
with Relief Canyon Mine Expansion (Busker) in the subject line.
As explained in BLM's news release, the agency has also
distributed a "Dear Interested Public" letter and a map, both of
which are also available on BLM's NEPA webpage at
http://1.usa.gov/1NrpZHI. Additionally, a copy of the Relief Canyon
Plan of Operations Modification can be reviewed at the Winnemucca
District Office during regular business hours. Mr. Busker is
available at (775) 623-1500 for more information.
About Pershing Gold Corporation
Pershing Gold is the emerging Nevada gold producer restarting the Relief
Canyon Mine, which includes three open-pit mines and a
state-of-the-art, fully permitted and constructed heap-leach
processing facility. Pershing Gold is currently permitted to resume
mining at Relief Canyon under the existing Plan of Operations.
Pershing Gold's landholdings cover approximately 25,000 acres
that include the Relief Canyon Mine asset and lands surrounding the
mine in all directions. This land package provides Pershing Gold
with the opportunity to expand the Relief Canyon Mine deposit and
to explore and make new discoveries on nearby lands.
Pershing Gold is listed on the NASDAQ Global Market under the
symbol PGLC and the Frankfurt Stock Exchange under the symbol
7PG1. The investment banks Euro Pacific Capital Inc.,
H.C. Wainwright and Co. LLC (under
the name Rodman & Renshaw) and Cantor Fitzgerald currently
produce analyst reports on the Company.
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934.
All statements, other than statements of historical fact,
including, without limitation, those with respect to the
objectives, plans and strategies of the Company set forth herein
including the planned activities contemplated by the Plan of
Operations Modification, potential reopening of the Relief Canyon
Mine and commencement of production, anticipated Modification
of the Plan of Operations, and the timing and duration of the
public comment period regarding the Plan of Operations
Modification, and those preceded by or that include the words
"believes," "expects," "given," "targets," "intends,"
"anticipates," "plans," "projects," "forecasts" or similar
expressions, are "forward-looking statements." Although the
Company's management believes that such forward-looking statements
are reasonable, it cannot guarantee that such expectations are, or
will be, correct. These forward-looking statements involve a number
of risks and uncertainties, which could cause the Company's future
results to differ materially from those anticipated. Potential
risks and uncertainties include, among others, inability to obtain
external financing to fund the development of plans for and the
reopening and commencement of production at the Relief Canyon Mine,
delay in the public comment process on the Plan of Operations
Modification; rejection of or unfavorable alterations to the Plan
of Operations Modification, or delay in approval of the same;
interpretations or reinterpretations of geologic information
or unfavorable exploration results that could negatively affect
estimates of mineralized material and resources; inability to
reopen the Relief Canyon Mine under the currently approved Plan of
Operations; general economic conditions and conditions affecting
the industries in which the Company operates; the uncertainty of
regulatory requirements and approvals; fluctuating mineral and
commodity prices; risks of junior exploration and pre-production
activities; and maintenance of important business relationships.
Additional information regarding the factors that may cause actual
results to differ materially from these forward-looking statements
is available in the Company's filings with the SEC including the
Annual Report on Form 10-K for the year ended December 31, 2014. The Company assumes no
obligation to update any of the information contained or referenced
in this press release.
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SOURCE Pershing Gold Corporation