Paramount Gold Nevada reported that the Oregon Department of Geology and Mineral Industries and the Department of Environmental Quality have approved and accepted the first two baseline environmental reports required for the permitting of Paramount's proposed Grassy Mountain gold mine in Oregon. The baseline air quality report and the baseline visual resources report were submitted to the state of Oregon on January 18, 2018 and December 22, 2017 respectively. Final approval for both reports was received on February 28, 2018. Last year, Paramount established a methodology and work plans for the preparation of updated baseline studies in consultation with the DOGAMI. The updated studies were required to cover a larger area for the proposed Grassy Mountain mine and its facilities as well as revisions to access roads. Paramount and its consultants have subsequently been acquiring baseline data and filing reports to meet DOGAMI's data requirements in accordance with these work plans. To date, a total of 11 baseline reports have been filed with DOGAMI for review by their staff and the specific state agency responsible for the subject matter of the report. Paramount expects to complete a Preliminary Feasibility Study for the proposed underground mine at its Grassy Mountain Gold Project in late March or early April. The PFS is a key component of the consolidated permit application. The PFS is expected to report the project's first proven and probable reserves. The proposed Grassy Mountain project is located on 100%-owned private land which was recently acquired by Paramount and announced on February 20, 2018.
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Paramount Gold Nevada announced that drilling at its 100%-owned Grassy Mountain Gold Project in Oregon "continues to confirm the project's resource model." The current 29-hole drill program is part of an ongoing pre-feasibility study scheduled for completion at the end of this year. "We are pleased to see that drill results continue to confirm our expectations of the deposit. We are narrowing the gaps in past drilling and improving the confidence in the resource as required for moving to reserves," commented CEO Glen van Treek.