Business
Paramount Gold: Grassy Mountain Tailings Dam Design Receives Key Approval From Oregon Water Resource Department
WINNEMUCCA, Nev., July 14, 2020 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) ("Paramount” or “the Company”) announced today that the Ore
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" WINNEMUCCA, Nev., July 14, 2020 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American: PZG) (\"Paramount” or “the Company”) announced today that the Oregon Water Resource Department (“OWRD”) has reviewed and approved the plans and specifications for the tailings dam proposed for the Grassy Mountain mine and stated that from a safety perspective, the plans are construction-ready. The OWRD reviewed the data within the Consolidated Permit Application which Paramount submitted in November 2019 and which included all tailings design drawings, safety analysis, field data collected and laboratory testing. The OWRD and its engineering team are required to review and evaluate the data and design, classify the hazard level (high, significant, or low hazard rating) and evaluate readiness for construction from a dam safety perspective. Considering the project’s remote geographic location, low population density, arid nature with no rivers or permanent streams in close proximity, seismic analysis and all other data compiled, OWRD has rated the dam as low hazard, its lowest risk level. The approval for construction is valid for 5 years with extensions possible on request. Paramount President and COO, Glen Van Treek commented, “This is an important achievement which shows confidence by the OWRD in the quality of the work completed by Golder Associates, Inc, Paramount’s consultants on the Tailings Storage Facility design. Approval of the design of the dam is a critical component of the overall permitting process.” Paramount continues to work with the Oregon Department of Geology and Mineral Industries (“DOGAMI”) and all of the coordinating and permitting State agencies to advance the Consolidated Permit Application process for the proposed Grassy Mountain Gold Mine. 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 into joint ventures with producers for construction and operatio...