News Gold Mountain receives Elk effluent discharge permit
2015-11-04 08:38 ET - News Release
Mr. Chris McLeod reports
GOLD MOUNTAIN RECEIVES EFFLUENT DISCHARGE PERMIT FOR ELK
Gold Mountain Mining Corp. has received an effluent discharge permit from the B.C. Ministry of Environment for its 100-per-cent-owned Elk gold property, located near Merritt, B.C.
The effluent discharge permit allows the company to passively release to the environment ground and rainwater that accumulates in the two bulk sample pits. The permit specifies the location and frequency of water quality and other sampling that will continue to ensure the water leaving the mine area remains within B.C. water quality guidelines for the protection of aquatic life. Sample results are reported to the Ministry of Environment. Gold Mountain is committed to protecting the environment and ensuring that its operations do not harm aquatic or land-based life, and has pro-actively implemented progressive reclamation of lands disturbed by exploration and mining to date.
Receipt of the discharge permit is one step in the process to put the property into commercial production that speaks to the relatively environmentally benign nature of the gold mineralization and enclosing wall rock.
The existing bulk sample permit allows the extraction of 4,000 banked cubic metres of mineralized material. Currently, 2,440 cubic metres have been removed, leaving a permitted allowance of another 1,560 cubic metres. An evaluation of the economics to mine mineralized material along strike between the old and new pits was completed and the level of risk associated with uncertainty surrounding the weaker gold commodity price was deemed to be too high. As a result the property has been placed on care and maintenance.
The company's environmental consultant, Marlin Murphy, PAg, EP, acts as the company's qualified person for technical disclosure per National Instrument 43-101, and has reviewed and approved the technical content of this press release.
We seek Safe Harbor.