Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or
the “Company”) announced today that it has submitted an updated
Plan of Operations (the “Plan”) to the Federal Bureau of Land
Management (“BLM”) for the Company’s proposed Grassy Mountain Gold
Mine in eastern Oregon. The Plan integrates all BLM comments
related to the previous submission and defines the Company’s
proposal to build and operate the high-grade underground gold mine.
The submission reflects collaborative exchanges
between the Company and the BLM over several meetings throughout
this year to clarify and resolve outstanding issues, finalize
additional geochemistry studies and include additional supporting
documents to the plan as requested. All aspects related to changes
to the plan were incorporated into the Company’s recently filed S-K
1300 Technical Report Summary on Feasibility Study (“TRS”).
Rachel Goldman, the Company CEO, stated, “Even
under the current high-cost inflationary environment, the Plan
outlines a profitable operation creating significant value to the
surrounding communities, job creation and ultimately increasing
stockholder value.”
The BLM is expected to take 30 days to review
the Plan for completeness, and if deemed complete, will register a
Notice of Intent in the Federal Register. The registration notifies
the public of the upcoming Environmental Impact Statement (“EIS”)
under the National Environmental Policy Act.
The BLM has selected HDR Inc, out of Boise,
Idaho, to complete the EIS in a process expected to take
approximately 12 months to complete. HDR is well informed in the
review of the proposed Grassy operation having conducted field
visits and taking into account their level of involvement with the
BLM in both, the review of the Base Line Data Reports, and the
clarifications to the Plan, which have been addressed within this
submission. The EIS process ends with the issuance of the Record of
Decision (“ROD”) that explains the BLM’s decision regarding the
proposed mining operations.
“The receipt of the Federal Notice of Intent
will be a significant milestone in the permitting process for
Grassy Mountain, achieving one of the three major permitting
achievements required to advance the high-grade Grassy Mountain
project to a construction decision, the other two being the
County’s Conditional Use Permit, which has already been received,
and the final being the State permit, which continues to advance”,
added Ms. Goldman.
The recently filed Feasibility Study for Grassy
Mountain (see press release) incorporated all requested design
modifications from permitting agencies, an enhanced reclamation
plan and updated cost estimates.
To stay informed of future press releases, subscribe to our
E-Alerts Program and to learn more about our projects visit the
projects section of our website.
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 joint ventures with producers for construction and
operation; or constructing and operating mines for its own
account.
Paramount holds a 100% interest in four gold
projects: Grassy Mountain; Frost; Sleeper and Bald Peak.
The Grassy Mountain Gold Project 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.
Frost is comprised of 84 unpatented lode claims
covering approximately 1,730 acres located 12 miles southwest of
the Company’s proposed high-grade, underground Grassy Mountain gold
mine in Malheur County, Oregon (“Grassy”). An initial drill program
is ongoing.
The Sleeper Gold Project is located in Northern
Nevada, the world’s premier mining jurisdiction. The Sleeper Gold
Project, which includes the former producing Sleeper mine, totals
2,474 unpatented mining claims (approximately 44,917 acres).
The newly acquired Bald Peak Project consists of
approximately 2,260 acres located in the Aurora mining district of
Mineral County, Nevada.
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 Officer Christos
Theodossiou, Director of Corporate
Communications 844-488-2233 Twitter:
@ParamountNV
Paramount Gold and Silver (AMEX:PZG)
Historical Stock Chart
From Jul 2024 to Aug 2024
Paramount Gold and Silver (AMEX:PZG)
Historical Stock Chart
From Aug 2023 to Aug 2024