Business
Hasbrouck Gold Project Permitting Update
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - West Vault Mining Inc. (TSXV:...
About this update from West Vault Mining Inc
[{"type":"text","content":"Hasbrouck Gold Project Permitting UpdateVancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - West Vault Mining Inc. (TSXV: WVM) (\"West Vault\" or the \"Company\") reports that EM Strategies, environmental consultants to the Company, has advised that the public comment period for the Environmental Assessment (\"EA\") on the Hasbrouck Gold Project (\"Hasbrouck\") has closed. The Bureau of Land Management (\"BLM\") received two comment letters at the end of the comment period as part of the National Environmental Policy Act (\"NEPA\") process. One of the letters, from an environmental group, asserts, among other items, that the mine should have been reviewed by the BLM under a more extensive Environmental Impact Statement, (\"EIS\") process rather than the current Environmental Assessment (\"EA\"). The BLM is currently reviewing those letters as part of their comment response. The Company believes that the environmental approvals process for Hasbrouck has been completed in line with detailed consultation with the BLM. The Three Hills mining area has already been granted federal and state permits in order to allow for the first phase of mining at Hasbrouck. West Vault is focused on advancing the Hasbrouck Gold Project in Tonopah, Nevada. The Company owns a 75% interest in, and a 1.1% net smelter return royalty over, the Hasbrouck Gold Project and announced on July 22, 2020 the execution of definitive agreements for the purchase of the remaining 25% interests from Clover Nevada LLC, a wholly owned subsidiary of Waterton Precious Metals Fund II Cayman, LP (\"Waterton\"). The Company is working towards completing full permitting for the Hasbrouck Gold Project's reserves while keeping corporate G&A costs lean and efficient. The Hasbrouck Gold Project, comprised of the planned Three Hills mining area and the nearby planned Hasbrouck Mine, hosts an estimated 762,000 ounces of proven and probable gold reserves and 10,569,000 ounces of proven and probable silver reserves (proven reserves of 6,242,00 tons at a grade of 0.02 Au oz/ton plus 0.41 Ag oz/ton and probable reserves of 39,028,000 tons at a grade of 0.016 Au oz/ton plus 0.205 Ag oz/ton). For details see the \"Technical Report and Updated Preliminary Feasibility Study: Hasbrouck and Three Hills Gold-Silver Project, Esmeralda County, Nevada\" dated September 14, 2016 a...