- Paramount Gold Nevada Corp. (NYSE:PZG) announces its plans to fast-track a Pre-Feasibility Study ("PFS") for its Grassy Mountain Gold Project located on private land in Oregon.
- Glen Van Treek, Paramount's President and CEO, said that "the key to creating value for our shareholders in the short term is to complete a PFS in 2017 and conclude the permitting process. The PFS represents a major step towards commercial production. It will also enable us to complete the permitting process which is moving more quickly than anticipated."
- In September 2016, the Company will initiate a drill program of approximately 15,000-20,000 feet to achieve the following objectives for the PFS: Expand, better define and increase the confidence level in the inventory of high-grade underground mineralized material; Acquire material for PFS-level metallurgical testing and subsequent design of the recovery process; and obtain geotechnical data on rock quality for underground mine design and mining methodology.
- Plans to commence the permitting process in early 2017.
- Source: Press Release