Gold Resource said that it has secured the final permit and also approval from its board to move ahead with the $30m Isabella Pearl gold project in Nevada, US.
Image: Operations at a mine. Photo: courtesy of etaphop photo/ FreeDigitalPhotos.net.
The Colorado-based gold and silver explorer has been given a positive Record of Decision (ROD) on the Environmental Assessment (EA) of the open pit heap leach gold project in Mineral County.
Apart from the ROD and EA permit, the gold mining project’s plan of operation (POO) has clinched approvals from the Bureau of Land Management (BLM) and also the Nevada Department of Environmental Protection (NDEP).
The company, which had previously secured permits for mercury, water, air and other ancillary permits, said that it now has all the regulatory approvals required to construct and operate the Isabella Pearl gold project.
Gold Resource expects to build the gold mining project within 12 months from the time of breaking ground which could be as soon as possible after the required project bond is secured.
Gold Resource CEO and president Jason Reid said: “With the Isabella Pearl Project at full production, the consolidated precious metal gold equivalent ounce production could potentially push over 90,000 ounces per year at a 74.1:1 silver to gold ratio, based on 2017 production totals.
“It will take a bit of time to fully mobilize equipment to the Project, but once construction activities commence, the Company targets first gold production at Isabella Pearl in less than twelve months.”
Gold Resource said that it selected its third-party mining contractor for the heap leach pad construction and also for contract mining of the Isabella Pearl gold project. The heap pad contract, which is currently in final review, is likely to be signed soon followed by the mining contract, said the company.
Located in the Walker Lane Mineral Belt, the Isabella Pearl gold project comprises 494 mining claims spread across 9,000 acres. Out of these, 58 claims encompass the Isabella Pearl deposit and planned mine area, as per Gold Resource.
The Isabella Pearl gold project holds estimated proven and probable reserves of 2,694,500 tonnes grading 2.22 grams per tonne, which is equivalent to 192,600 gold ounces.