Paramount Gold Nevada Corp. announced that the State of Oregon’s Technical Review Team (TRT), which is comprised of the agencies involved in the Chemical Process Mining program has determined that Paramount’s Consolidated Permit Application (CPA) for its Grassy Mountain Project is complete. State agencies are now expected to start permit writing for the high-grade Grassy Mountain gold and silver mine. The decision was unanimously approved by the TRT at a public meeting on October 4, 2023.
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,” said Glen Van Treek, COO for Paramount. “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.”
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 Grassy Mountain mine. Following the approval of the scope of the EE earlier this year, Stantec has already commenced the EE that is expected to be completed in early 2024.
The project will include several infrastructure upgrades for existing powerlines and roadways, 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 more than 20 years of monitoring post mine closure.
The Grassy Mountain Gold Project consists of approximately 8,200 acres located on private and federal lands in Malheur County, Oregon. An October 2022 Feasibility Study outlined a small-footprint, high-grade underground mine that would produce 362,000 ounces (oz) of gold and 425,000 oz of silver over an 8-year life.