Paramount Gold Reports on Permitting Progress at Grassy Mountain With Oregon State Regulators
March 22 2021 - 7:00AM
Paramount Gold Nevada Corp. (NYSE American: PZG) announced today
that the Wildlife Resources Baseline Data Report (“BDR”) for the
proposed high-grade Grassy Mountain gold mine in Malheur County,
Oregon (“Grassy”) has been accepted by the Oregon State Technical
Review Team (“TRT”).
Paramount CEO Rachel Goldman commented: “The
acceptance of the Wildlife BDR is an incremental positive for our
permitting progress at Grassy. Following the approval of the
tailings dam design and the receipt of the water use permit in
2020, the team continues to address the remaining items that will
facilitate our goal of receiving all regulatory approvals necessary
to advance Grassy into operation.”
The Wildlife BDR incorporates ground and
airborne surveys cataloguing wildlife over an expansive area that
consists of the project area, the access road and a buffer zone
around them.
To date, 20 baseline data reports have been
accepted by state regulators, and of those remaining the Ground
Water and the Geochemistry BDRs are expected to be filed in advance
of submitting the revised Consolidated Permit Application
(“CPA”).
The successful completion of a positive NI
43-101 Feasibility Study in September 2020 has provided several key
inputs that will be included in the revised CPA and the amended
Plan of Operations which the Company anticipates submitting in the
summer of 2021.
About Paramount Gold Nevada
Corp.
Paramount Gold Nevada Corp. 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 8,200 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 Feasibility Study
have been released and key permitting milestones accomplished.
Paramount owns a 100% interest in the Sleeper
Gold Project located in Northern Nevada, the world’s premier mining
jurisdiction. 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). The Sleeper
gold project is host to a large gold deposit (over 4 million ounces
of mineralized material) and the Company has completed and released
a positive Preliminary Economic Assessment. With higher gold
prices, Paramount has begun work to update and improve the
economics of the Sleeper project.
Safe Harbor for Forward-Looking
Statements
This release and related documents may include
"forward-looking statements" and “forward-looking information”
(collectively, “forward-looking statements”) pursuant to applicable
United States and Canadian securities laws. Paramount’s future
expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and other
applicable securities laws. Words such as "believes," "plans,"
"anticipates," "expects," "estimates" and similar expressions are
intended to identify forward-looking statements, although these
words may not be present in all forward-looking statements.
Forward-looking statements included in this news release include,
without limitation, statements with respect to the use of proceeds
from the Offerings. Forward-looking statements are based on the
reasonable assumptions, estimates, analyses and opinions of
management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as
other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements
are made, but which may prove to be incorrect. Management believes
that the assumptions and expectations reflected in such
forward-looking statements are reasonable. Assumptions have been
made regarding, among other things: the conclusions made in the
feasibility study for the Grassy Mountain Gold Project (the “FS”);
the quantity and grade of resources included in resource estimates;
the accuracy and achievability of projections included in the FS;
Paramount’s ability to carry on exploration and development
activities, including construction; the timely receipt of required
approvals and permits; the price of silver, gold and other metals;
prices for key mining supplies, including labor costs and
consumables, remaining consistent with current expectations; work
meeting expectations and being consistent with estimates and plant,
equipment and processes operating as anticipated. There are a
number of important factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including, but not limited to:
uncertainties involving interpretation of drilling results;
environmental matters; the ability to obtain required permitting;
equipment breakdown or disruptions; additional financing
requirements; the completion of a definitive feasibility study for
the Grassy Mountain Gold Project; discrepancies between actual and
estimated mineral reserves and mineral resources, between actual
and estimated development and operating costs and between estimated
and actual production; the global epidemics, pandemics, or other
public health crises, including the novel coronavirus (COVID-19)
global health pandemic, and the spread of other viruses or
pathogens and the other factors described in Paramount’s
disclosures as filed with the SEC and the Ontario, British Columbia
and Alberta Securities Commissions.
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.
Rachel Goldman, Chief Executive
OfficerChristos Theodossiou, Director of Corporate
Communications866-481-2233Twitter:
@ParamountNV
Paramount Gold and Silver (AMEX:PZG)
Historical Stock Chart
From May 2024 to Jun 2024
Paramount Gold and Silver (AMEX:PZG)
Historical Stock Chart
From Jun 2023 to Jun 2024