Gold Resource Corporation Invited to Participate in Scoping Environmental Impact Assessment
August 05 2022 - 9:41AM
Business Wire
Gold Resource Corporation (NYSE American: GORO) (the “Company”)
has been invited by Michigan’s Department of Environment, Great
Lakes and Energy (“EGLE”) to participate in a Scoping Environmental
Impact Assessment (“SEIA”) Meeting on August 5, 2022. The Company
will be given the opportunity to present the initial site plan1 and
other key improvements being incorporated into the Back Forty
Project’s optimized feasibility study. Another key objective of the
meeting is for EGLE and key stakeholders to discuss the permitting
process and related requirements of the Back Forty Project.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220805005248/en/
Project Location (Graphic: Business
Wire)
Allen Palmiere, President and CEO said “This is a fantastic
opportunity to introduce our initial site plans1 to key
stakeholders in the community, especially tribal communities. While
the initial site plans have taken into consideration historical
concerns expressed, we are keen to learn more about any other
concerns that may come up during the assessment. Our priorities
while progressing the feasibility study and permitting initiatives
at the Back Forty Project are focused on favorably impacting our
environment, social and governance programs while identifying
economic and operational efficiencies.”
Steve Donohue, Vice President, Environmental and Regulatory
Affairs (Michigan), will represent the Company at the SEIA. The
image gallery and the improvements listed below outline the
materials to be presented at the SEIA meeting.
The optimized initial site plan highlights the following project
improvements from the 2018 project:
- Combined open pit and underground mine
- Pit is smaller and pulled back from Menominee River and River
Road
- Filtered tails facility (dry stack) eliminates the traditional
tailings dam and therefore the need for a dam safety permit;
streamlines water management of the tailings management facility,
including at closure.
- Addresses Administrative Law Judge’s decision related to
alternatives analysis (2019 Wetland Permit Contested Case)
- Eliminates a waste storage facility in proximity to neighboring
properties and wetlands
- Reduced wetland dredge and fill impacts (now less than 2
acres)
- Reduced visual intrusion on Menominee River and identified
cultural resources.
The initial revised mine plan consists of a smaller open pit and
incorporates underground mining1. The open pit is further from the
Menominee River and does not cross River Road. The underground mine
does not go under the Menominee River.
Listed below are the planned permit applications that will be
filed after the feasibility study is published:
- Part 632 Mining Permit Application
- Part 632 Environmental Impact Assessment
- Air Permit Application (Permit to Install)
- NPDES Permit Modification
- Part 301/303 Wetland Permit Application
About GRC:
Gold Resource Corporation is a gold and silver producer,
developer, and explorer with its operations centered on the Don
David Gold Mine in Oaxaca, Mexico. Under the direction of an
experienced board and senior leadership team, the company’s focus
is to unlock the significant upside potential of its existing
infrastructure and large land position surrounding the mine in
Oaxaca, Mexico and to develop the Back Forty Project in Michigan,
USA. For more information, please visit GRC’s website, located at
www.goldresourcecorp.com and read the company’s Form 10-K for an
understanding of the risk factors associated with its business.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the Company’s participation
in the SEIA, planned permit applications, and the development
expectations in the optimized initial site plan, including the size
and location of the pit, the use of a filtered tails facility,
reduced wetland impact, and reduced visual intrusion on the
Menominee River and identified cultural resources. These statements
are subject to risks and uncertainties, including modifications
that may be made during the preparation of the feasibility study or
in connection with the permit process, changes in interpretations
of geological, geostatistical, metallurgical, mining or processing
information, and interpretations of the information resulting from
exploration, analysis or mining and processing experience. The
Company assumes no obligation to update this information.
Additional risks relating to the Company may be found in the
periodic and current reports filed with the SEC by the Company,
including the Company’s Annual Report on Form 10-K for the year
ended December 31, 2021.
Cautionary Note Regarding Feasibility Study
The Company uses the term “feasibility study” to refer to the
technical and economic study it is preparing for the Back Forty
Project. In order to qualify as a “feasibility study” as defined
under Subpart 1300 of Regulation S-K 1300 (“S-K 1300”), the study
must meet certain requirements, including, for example, that
operating and capital cost estimates in the study must, at a
minimum, have an accuracy level of approximately ±25% and a
contingency range not exceeding 15%. Because the Company has not
yet completed its analysis for the proposed study, there is no
assurance that the study, when completed, will meet the definition
of a “feasibility study” as defined under S-K 1300.
______________________ 1 The initial site plan, including mine
plan and process flow sheet, is subject to change as the
feasibility study work continues with the Back Forty Project Team
and Qualified Professionals. Additionally, the final construction
decision is subject to approval by the Company’s Board of
Directors.
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version on businesswire.com: https://www.businesswire.com/news/home/20220805005248/en/
Kim Perry Chief Financial Officer Kim.Perry@GRC-USA.com
www.GoldResourcecorp.com
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