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Oregon Approves Environmental Evaluation and Commences Permit Writing for Paramount’s High Grade Grassy Mountain Gold Mine
WINNEMUCCA, Nev., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) is pleased to announce that
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" WINNEMUCCA, Nev., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or the “Company”) is pleased to announce that during a state Technical Review Team (“TRT”) meeting on October 3rd, the Environmental Evaluation (“EE”) for the Grassy Mountain project was approved as completed. The approval marks the start of the 225-day legislated timeline for the issuance of draft permits. The EE was produced by Stantec, a global leader in engineering, architecture, mining and environmental consulting under the direction of DOGAMI with input from state permitting agencies. Paramount’s President, COO and Director, Mr. Glen Van Treek stated, “With the approval of the EE, Grassy Mountain has now entered the final step towards obtaining draft permits from the State of Oregon. We now look forward to the release of the Federal draft Environmental Impact Statement on track to be released in February 2025.” The Grassy Mountain feasibility study, completed at a gold price of $1,750 per ounce, projects an average annual production of 47,000 ounces of gold and 55,000 ounces of silver. At a moderate increase to $2,100 gold, the post-tax project NPV increases from $114 million to $189 million. Paramount CEO and Director, Rachel Goldman, commented, “Based on the information provided at the TRT meeting we expect to receive draft permits in May 2025 which will then be followed by a public hearing prior to the issuance of final permits, aligning the state permitting timeline with the Federal record of decision (“RoD”) from the BLM scheduled for late 2025”. 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. Additional information about Paramount Gold’s portfolio of assets is available at www.paramountnevada.com or by email at [email protected]. Paramount holds a 100% interest in three projects: Grassy Mountain; Sleeper and Bald Peak. The Grassy Mountain Gold Project (\"Grassy\") co...