Paramount Gold Receives Permit From Malheur County for its Proposed Grassy Mountain Underground Mine in Eastern Oregon
June 04 2019 - 7:00AM
Paramount Gold Nevada Corp. (NYSE American: PZG) ("Paramount” or
“the Company”) is pleased to announce that the Malheur County
Planning Commission has approved the Conditional Use Permit (“CUP”)
for the proposed Grassy Mountain underground mine (“Grassy
Mountain”) located in eastern Oregon.
In a public meeting held on May 23, 2019 in Ontario, Oregon, the
Malheur County Planning Commission voted unanimously to approve the
proposed CUP for Grassy Mountain and to recommend approval of a
Sage Grouse Rule Permit to the Malheur County Court. As the
permit name states, the County issued the CUP with conditions,
which in the case of Grassy Mountain, are the following:
- The applicant will subscribe to the Vale rangeland fire
protection Association;
- The applicant shall collaborate with the Malheur County
sheriff’s office in regard to a security plan as well as law
enforcement and emergency response plans;
- Any road improvements necessary to serve Grassy Mountain must
be constructed according to county design standards to the
satisfaction of the County Road Master; and
- The applicant shall obtain approval for its reclamation plan
from Oregon Department of Geology and Mineral Industries
(“DOGAMI”), prior to beginning mining operations. Unless otherwise
prohibited by DOGAMI, the Applicant may conduct pre-construction
and construction activities prior to obtaining approval for its
reclamation plan.
Paramount CEO, Glen Van Treek, commented: “The final acceptance
of the CUP is a major accomplishment in our permitting efforts of
Grassy Mountain and indicates the commitment and support that the
local communities and authorities have towards advancing Grassy
Mountain into operation. To our knowledge, this is the first CUP
ever granted for an underground gold mining project in Oregon.”
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About Paramount Gold Nevada Corp.
Paramount Gold Nevada 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 4,450 hectares 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 PFS have been
released and key permitting milestones accomplished (see press
release dated May 24, 2018). Additionally, Paramount owns a 100%
interest in the Sleeper Gold Project located in Northern Nevada.
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).
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:
production estimates and assumptions, including production rate and
grade per tonne; revenue, cash flow and cost estimates and
assumptions; statements with respect to future events or future
performance; anticipated exploration, development, permitting and
other activities on the Grassy Mountain project; the economics of
the Grassy Mountain project, including the potential for improving
project economics and finding more ore to extend mine life; and
mineral reserve and mineral resource estimates. 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 PFS; the quantity and grade of resources included in resource
estimates; the accuracy and achievability of projections included
in the PFS; 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 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; 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. Glen Van Treek, President,
CEO and DirectorChristos Theodossiou, Director of
Corporate
Communications866-481-2233Twitter:
@ParamountNV
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