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Nevada Sunrise Announces Dismissal of Water Right Forfeiture in Nevada
VANCOUVER, Sept. 30, 2019 /CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) is pleased to announce that the State Engineer
About this update from Nevada Sunrise Metals Corporation
[{"type":"text","content":" VANCOUVER, Sept. 30, 2019 /CNW/ - Nevada Sunrise Gold Corporation (\"Nevada Sunrise\" or the \"Company\") (TSXV: NEV) is pleased to announce that the State Engineer of the Nevada Division of Water Resources (the \"NDWR\") has issued an order formally dismissing the forfeiture proceedings against the Company's water right in the Clayton Valley Basin (the \"Order\"). The dismissal follows a negotiated settlement agreement with Albemarle Corporation of Charlotte, NC (\"Albemarle\", NYSE: ALB) wherein Albemarle withdrew its motion to forfeit the Company's Permit 44411 (the \"Permit\") (see Nevada Sunrise news release dated July 15, 2019) in exchange for Nevada Sunrise's agreement not to drill any wells within certain areas of the Clayton Valley that could impact Albemarle's lithium brine mining operations at Silver Peak, NV. After more than three years of contentious litigation, Nevada Sunrise's water rights under the Permit are now in good standing and out from under the threat of forfeiture from Albemarle's allegations of non-use. As part of the Order, in conjunction with the dismissal of the forfeiture proceedings, the State Engineer has issued to Nevada Sunrise a notice letter requiring the Company to make full use of its water rights for mining and milling purposes within the next twelve months and file a proof of resumption of use, or apply for an extension of time requesting additional time to use the water. About Permit 44411 Nevada Sunrise's wholly-owned subsidiary, Intor Resources Corp. (\"Intor\") acquired the Permit, which allows for 1,770 acre-feet of water use for mining and milling per year, from an arms-length vendor (the \"Vendor\"). The Permit represents the largest block of water in the Clayton Valley that is not owned by Albemarle. All of the groundwater in the Clayton Valley Basin (20,000 acre-feet) has been fully appropriated, and the NDWR has previously determined that there is no longer any new water available for appropriation. Accordingly, with the minor exception of a single application to appropriate 50 acre-feet annually solely for a temporary five-year period, all applications for new water rights made in the past three years by other exploration companies in the Clayton Valley have been denied by the State Engineer for reasons that there is no unappropriated water available in the bas...