Business
Paramount Gold Nevada Receives Approvals From Oregon State Regulators for Its First Two Baseline Data Reports
WINNEMUCCA, Nev., March 13, 2018 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) ("Paramount”) reported today that the Oregon Department of
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" WINNEMUCCA, Nev., March 13, 2018 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) (\"Paramount”) reported today that the Oregon Department of Geology and Mineral Industries (“DOGAMI”) and the Department of Environmental Quality (“DEQ”) have approved and accepted the first two baseline environmental reports required for the permitting of Paramount’s proposed Grassy Mountain gold mine in Oregon. The baseline air quality report and the baseline visual resources report were submitted to the state of Oregon on January 18, 2018 and December 22, 2017 respectively. Final approval for both reports was received on February 28, 2018. Paramount CEO Glen van Treek commented: “We are very encouraged by the quick turnaround time and the fact that these reports have been approved and accepted without change. This excellent response from Oregon State regulators supports our permitting timeline which has us submitting our consolidated permit application to the DOGAMI in mid-2018.” Once this application has been accepted as complete and a notice to proceed has been issued by state regulators, a permit decision should be expected within days. Last year, Paramount established a methodology and work plans for the preparation of updated baseline studies in consultation with the DOGAMI. The updated studies were required to cover a larger area for the proposed Grassy Mountain mine and its facilities as well as revisions to access roads. Paramount and its consultants have subsequently been acquiring baseline data and filing reports to meet DOGAMI’s data requirements in accordance with these work plans. To date, a total of 11 baseline reports have been filed with DOGAMI for review by their staff and the specific state agency responsible for the subject matter of the report. “The permitting process is proceeding as planned, thanks in large part to the co-operation of state officials,” said Van Treek. Paramount expects to complete a Preliminary Feasibility Study (“PFS”) for the proposed underground mine at its Grassy Mountain Gold Project in late March or early April. The PFS is a key component of the consolidated permit application. The PFS is expected to report the project’s first proven and probable reserves. The proposed Grassy Mountain project is located on 100%-owned private land which was recently acquired by Paramount and a...