Calico Resources reaches major permitting milestone at Grassy Mountain Project
11 Luglio 2012 - 2:30PM
PR Newswire (Canada)
VANCOUVER, July 11, 2012 /CNW/ - Calico Resources Corp. (the
"Company" or "Calico") is pleased to announce Calico Resources USA
Corporation completed their first significant permitting advance in
the State of Oregon, receiving a "completeness determination" on a
Notice of Intent to conduct mining operations on patented land at
the Grassy Mountain Project. The site is located 25 miles
south-southwest of Vale, Oregon in Malheur County. "This is a major
step in a series of permitting requirements to open an underground
mine and processing facility at the Grassy Mountain site. The
Department of Geology and Mineral Industries (DOGAMI) will now move
ahead with the Division 37 permitting process by activating the
Technical Review Team and a Project Coordinating Committee to
implement a consolidated permitting process. We have worked very
closely with DOGAMI, other state agencies and the BLM to accomplish
this permitting milestone", stated Buck Morrow, President and CEO.
"We are now moving ahead to complete work plans for environmental
baseline studies including preliminary prefeasibility- level
operating and reclamation plans. In addition Calico will submit
other necessary permit applications to finalize all necessary
information requirements. The next permitting milestone is approval
and implementation of the environmental baseline program and
initial operating and reclamation plans which will result in the
receipt of the "Notice to Proceed" by DOGAMI. This will
trigger a one year process after which all requirements are met,
the environmental and socioeconomic evaluations completed, and the
consolidated permits can be issued", according to Morrow. The
Calico Grassy Mountain Project is the first mining proposal in
Oregon since 1995 to file and receive approval of a Notice of
Intent under Division 37, Chemical Process Mining (632-037000059)
This consolidated process is designed to effectively implement the
provisions of Chapter 735, 1991 Oregon Laws, which address
obtaining permits necessary to operate a chemical process mine.
About Grassy Mountain The Grassy Mountain Project contains NI
43-101 compliant (see March 29, 2012 Technical Report) Indicated
resources of 1,271,300 ounces of Au in 37,471,000 tonnes averaging
1.055 g/t at a 0.34 g/t cutoff and Inferred resources of 305,600
ounces of Au in 15,733,300 tonnes averaging 0.604 g/t at a 0.34 g/t
cutoff. Contained in the resource above, is a higher grade NI
43-101 compliant resource suitable for underground mining with
Indicated resources of 540,200 ounces Au in 3,195,400 tonnes
averaging 5.258 g/t at a 2.06 g/t cutoff and Inferred resources of
58,500 ounces Au in 302,600 tonnes averaging 6.010 g/t at a 2.06
g/t cutoff. Qualified Person Michael McGinnis, Calico's Exploration
Project Manager, is a Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical
contents of this release. On behalf of the Board, Arden (Buck)
Morrow President and CEO "Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release." Calico Resources
Corporation CONTACT: Terri Anne WelykiVice-President of Corporate
Development(604) 681-6855
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