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Paramount Gold to test Oregon mine foundation

A map from the Paramount Gold Nevada Corp. website shows the location of the Grassy Mountain Gold Mine in Oregon.

WINNEMUCCA — Paramount Gold Nevada Corp. announced Nov. 21 that it has received approvals from the Oregon Department of Geology and Mineral Industries and the Federal Bureau of Land Management to proceed with a program of auger drilling, core drilling and back hoe excavations at its Grassy Mountain proposed mine site in eastern Oregon as part of the project’s preliminary feasibility study.

The work is designed to characterize the rock and alluvium under the proposed mill, processing plant, and tailings areas to ensure stability and adjust the design of these installations if necessary. The program is expected to commence in the week after Thanksgiving.

“The timely approvals that we continue to receive from the DOGAMI and BLM have allowed us to stay on schedule for completion of our PFS within our planned timeframe of early 2018,” Paramount President and CEO Glen Van Treek said.

As announced in early September, Paramount filed its plan of operation, which included the proposed location of the project facilities and tailings areas.

Paramount is proposing to construct and operate an underground mine to exploit the high-grade gold core at its Grassy Mountain Project. The PFS will establish the parameters of a mining and milling operation, define capital and operating costs, convert resources to reserves, and advance the project through the permitting process with the BLM, DOGAMI and local agencies of Malheur County.

Paramount holds a 100 percent working interest in 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 for which a preliminary economic assessment has been prepared and key permitting milestones accomplished.

Additionally, Winnemucca-based Paramount owns a 100 percent interest in the Sleeper Gold Project in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims.

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