Business
West Kirkland Mining Enters Agreement for Lease of Water Rights Hasbrouck Open Pit Heap Leach Gold Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 21, 2017) - West Kirkland Mining Inc. (TSX VENTURE:WKM) ("West Kirkland", "WKM" or the "Company") announces tha
About this update from West Vault Mining Inc
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 21, 2017) - West Kirkland Mining Inc. (TSX VENTURE:WKM) (\"West Kirkland\", \"WKM\" or the \"Company\") announces that it has entered into an agreement to lease water rights (the \"Lease\") in Nevada from Liberty Moly LLC (\"Liberty Moly\"). Liberty Moly holds certain water rights which allow it to appropriate ground water within Basin 137a for use at their Liberty Moly project, located 30 km from WKM's Hasbrouck Gold Project. The lease allows WKM to appropriate ground water in the amount of 1.522 cubic feet per second with an annual duty of 800 acre feet. The quantity of water leased by WKM is a portion of Liberty Moly's right to 6,200 acre feet annually and is sufficient for all of WKM`s water needs for production at the Hasbrouck Project. The Three Hills Mine is the first phase of the Hasbrouck Gold Project and is also located within Basin 137a. Obtaining approval from Nevada's state engineer to change the point of diversion of the leased water to the Hasbrouck Project is expected to be in the normal course of affairs. The Hasbrouck Mine is the second phase of the project and is located in the adjacent Basin 142; an inter-basin approval is required for the leased water to be diverted to the Hasbrouck Mine. The company plans to make this application and work on it during Three Hills Mine construction and gold production phases. The Three Hills Mine involves an open pit, heap leach and gold plant, and is fully permitted for construction and operation. Purchase of private lands for the Three Hills heap leach facility was concluded in January 2017. Work on permitting the Hasbrouck Mine is ongoing and is expected to be completed under an Environmental Assessment. Assay results from recent exploration drilling at Three Hills are pending. The Hasbrouck Project consists of the Hasbrouck Mine, Three Hills Mine, and surrounding land package, all located near Tonopah, Nevada. All dollar values presented in this news release are U.S. dollars and are presented on a 100% project basis. Highlights include: Low initial capital cost of $47 million with a 12-month construction period Open pit mining with minimal pre-stripping and an overall stripping ratio of 1.1:1 594,000 recoverable gold equivalent ounces* 74,000 gold equivalent ounces* produced annually for eight years $717 All-in Sustai...