LAKEWOOD, Colo., June 9, 2016 /CNW/ -- Pershing Gold Corporation
(NASDAQ:PGLC, FWB:7PG1) ("Pershing Gold" or the "Company") is
pleased to announce that on June 3,
2016, the Winnemucca
District, Humboldt River Field Office of the U.S. Bureau of Land
Management ("BLM") started the 30-day public review period
requesting public comments on the Preliminary Environmental
Assessment for Pershing Gold's Relief Canyon Mine. The
Environmental Assessment evaluates the Plan of Operations
Modification that Gold Acquisition Corp. ("GAC"), Pershing Gold's
wholly-owned subsidiary, submitted to BLM to seek authorization to
expand the Relief Canyon Mine. The Company anticipates BLM approval
of the Plan of Operations Modification in the third quarter of this
year.
The proposed mine expansion would involve increasing the pit
footprint and deepening the pit on mining claims that GAC owns and
on private lands that GAC leases from New Nevada Resources and New
Nevada Lands, building a new waste rock storage area on leased
private lands, and constructing numerous ancillary facilities to
support the expanded mining operation. Figure 1 shows the existing
mine facilities and the facilities included in GAC's mine expansion
proposal. BLM's "Dear Interested Party" letter provides a detailed
list of the activities proposed for the Relief Canyon Mine
Expansion. This letter is available on the BLM's website at
http://1.usa.gov/1NrpZHI.
"BLM's publication of the Preliminary Environmental Assessment
and initiation of the public comment period for the document is a
significant milestone in the permitting process for the mine,"
stated Stephen Alfers, Chairman,
CEO, and President of Pershing Gold. "We thank BLM for the
excellent job they did in preparing the Environmental Assessment
and look forward to working with BLM as they finalize their review
of our plans to expand the mine."
At the conclusion of the public comment period, which ends on
July 3, 2016, BLM will respond to any
public comments received on the Preliminary Environmental
Assessment, make any necessary changes to the document, and
finalize its decision for the proposed mine expansion. BLM's Dear
Interested Party letter invites the public to submit written
comments on the Modified Plan to Lorence
Busker, BLM's Project Lead, at 5100 E. Winnemucca Blvd.,
Winnemucca, NV 89445 or e-mail
wfoweb@blm.gov with Relief Canyon Mine Expansion (Busker) in the
subject line. A copy of the Preliminary Environmental Assessment
can be reviewed at the Winnemucca District Office during regular
business hours from 7:30 a.m. to 4:30
p.m. Mr. Busker is available at (775) 623-1500 for more
information. The Environmental Assessment can be downloaded from
BLM's website at:
https://eplanning.blm.gov/epl-front-office/eplanning/planAndProjectSite.do?methodName=dispatchToPatternPage¤tPageId=66157
Figure 1
PDF -
http://origin-qps.onstreammedia.com/origin/multivu_archive/ENR/377311-PershingGoldCorporation.pdf
About Pershing Gold Corporation
Pershing Gold is an
emerging gold producer whose primary asset is the Relief
Canyon Mine in Pershing County,
Nevada. Relief Canyon includes three open-pit mines,
expanding adjacent open-pit-able gold deposits, 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.
Legal Notice and Safe Harbor Statement
This press
release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical fact, including those with respect to the
timing of BLM approval of the Plan of Operations Modification to
permit expansion of the Relief Canyon Mine 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, unexpected delays in the BLM review and
approval, or the BLM's failure to approve, the Plan of Operations
Modification sought by the Company that could result from
extensions of the public comment period, adverse public comments,
litigation or other problems or delays in the permitting process.
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 Securities and
Exchange Commission, including the Annual Report on Form 10-K for
the year ended December 31,
2015. The Company assumes no obligation to update any of the
information contained or referenced in this press release.
Logo - http://photos.prnewswire.com/prnh/20141201/161720LOGO
Photo -
http://photos.prnewswire.com/prnh/20160608/377291-INFO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/pershing-gold-announces-blm-has-published-the-preliminary-environmental-assessment-and-started-public-scoping-for-the-relief-canyon-mine-expansion-300282211.html
SOURCE Pershing Gold Corporation