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Approval nears for Paramount’s Grassy Mountain

9th October 2023

By: Creamer Media Reporter

     

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US-based precious metals explorer and developer Paramount Gold Nevada is moving closer to a green light for its Grassy Mountain project, in Oregon, with a technical review team (TRT) comprising state agencies determining that the consolidated permit application (CPA) is complete.

State agencies are now expected to start permit writing for the high-grade Grassy Mountain gold and silver mine.

With the completeness determination by the TRT, the next step is for The Oregon Department of Geology and Mineral Industries (DOGAMI), the facilitating agency of the TRT, to issue the notice to proceed.

The DOGAMI expects to issue final consolidated permits for the Grassy Mountain mine one year from the issuance of the notice in concurrence with State laws.

“Since the acquisition of Grassy, this is the green light we have been working towards which signals the state’s willingness for us to proceed with building and operating the Grassy Mountain mine. The CPA completeness determination couldn’t have been achieved without the unwavering dedication of our incredible team, the trust of our shareholders and the support of the local community,” says Paramount president, COO and director Glen Van Treek.

As part of the permitting process, the State of Oregon is required to concurrently complete an environmental evaluation and socio-economic analysis (EE) for the proposed mine. Following the approval of the scope of the EE earlier this year, consulting group Stantec has already commenced the EE that is expected to be completed in early 2024.

Van Treek states that the project will make an important contribution to eastern Oregon.

“The project includes several infrastructure upgrades to existing powerlines and roadway, the construction of the processing facility and the development of the underground mine requiring a life-of-mine investment of nearly $190-million. These costs include project sustaining capital and mine closure costs, reclamation and over 20 years of monitoring post mine closure. In addition, while in operation, an estimated $250-million will be paid in salaries to approximately 110 direct employees, and many external goods and services that the company expects to source locally where possible. Our project will bring significant economic benefits to the communities of eastern Oregon.”

Edited by Creamer Media Reporter

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