Approval From Oregon Regulators for Fifth Baseline Data rpt WINNEMUCCA, Nev., July 19, 2018 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) ("Paramount”) reported today that the Oregon Department of Geology and Mineral Industries (“DOGAMI”) has approved and accepted a fifth baseline environmental report required for the permitting of Paramount’s proposed Grassy Mountain Gold Project in eastern Oregon.
The Outstanding Natural Areas Baseline Report was submitted to DOGAMI on May 30, 2018 and final approval for the report was received on June 29, 2018.
The report evaluated the project area and areas surrounding the project to determine if there were any Outstanding Natural Areas in or surrounding the proposed Grassy Mountain Gold Project. An Outstanding Natural Area is designated as a protected area in the National Landscape Conservation System managed by the Bureau of Land Management. The report and the approval both confirm that there are no Outstanding Natural Areas in the project study area.
Paramount CEO Glen van Treek commented: “We continue to be encouraged by the response time of Oregon State regulators. The timely approval of our baseline studies, coupled with the recent completion of a robust PFS for the Grassy Mountain mine, allow us to stay on target to achieve our next major milestone of submitting our Consolidated Permit Application to the State.”
The proposed Grassy Mountain Gold Project is located on 100%-owned private land (see February 20, 2018, press release on exercise of option) and Bureau of Land Management (“BLM”) land in Malheur County, Oregon.
About Paramount Gold Nevada Corp.
Paramount Gold Nevada 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 operation; or constructing and operating mines for its own account.
Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 9,300 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain project contains a gold-silver deposit (100% located on private land) for which a PFS has been prepared and key permitting milestones accomplished. Additionally, Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares).