Timberline Resources, the mineral resource developer working their portfolio of advanced-stage gold properties in the western U.S., reported some good news today out of their Butte Highlands Joint Venture (50% carried-to-production interest) just outside of Butte, Montana, as the draft water discharge permit comes in from the Montana Department of Environmental Quality.
This decision, once approved, clears the way for construction of the ground water treatment/disposal system that will reverse osmosis water from the mine before safely discharging it into surface waters (as per Montana Water Quality Act and Federal Water Pollution Control Act stipulations). Everything is on track for a June final permitting after the customary public notice period (ending May 30) and investors can take a look at the full draft permit, as well as associated fact sheet and EIS outline on the Montana DEQ site.
President and CEO of TLR, Paul Dircksen, noted this critical milestone with pride, looking to the imminent hard rock operating permit with assured confidence and clearly itching to begin gold production thereafter, as planned. Dircksen underscored to shareholders how the JV partner on the Butte job continues to fully fund permitting/development, with TLR serving to expedite the process and that the JV partner is slated to handle mine development costs through to commercial production (TLR's share repaid through proceeds on future production).
TLR has a sweet deal here and it makes up a nice chunk of their asset portfolio, very encouraging to see the Butte project coming along for them and confidence is high at the company that their schedule to start production later this year is well in hand. With a portfolio footprint that puts TLR in Nevada's major gold districts, including their flagship Lookout Mountain Project in South Eureka, a massive 23 square-mile land package (inferred 141k oz Au at around 0.41 g/t).
Timberline is one of the metal developers to really watch and they have substantial logistical roll out on the docket for this year, with the South Eureka drill program expansion at Lookout Mountain being one of the salient data points to keep a close eye on. Look at the supply chain fundamentals in the metal space and you can see why the industry is still hot despite recent movements in the price, especially for companies with the right mix of resources, personnel, and share structure.
For more info, visit Timberline-Resources.com
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