Eros Resources gets major permit approval for its gold project in Nevada
(Kitco News) - Eros Resources (TSXV: ERC)announced Wednesday that it has received a Water Pollution Control Permit(WPCP) from the Nevada Bureau of Mining Regulation and Reclamation for the BellMountain gold and silver mine project in Churchill County, Nevada.
The company said that this permitis one of the major permits required to move the project forward
"The WPCP is an integral partof an ongoing permitting process, which has included approval of a Plan ofOperations and Environmental Assessment by the Federal Bureau of LandManagement (BLM) with a Finding of No Significant Impact and Record of Decisionin 2019," the company noted in a press-release.
President and CEO RonNetolitzky stated, "This is a major milestone in the development of the BellMountain mine project. As we continue to advance additional permitapplications, we are also planning additional exploration programs to enhancethe resource at Bell Mountain as we look ahead toward a potential productiondecision."
Eros' 100% owned BellMountain gold project is located near Fallon, Nevada. Highlights of thePreliminary Economic Assessment include an after tax NPV @ 5% and IRR of $9.3Mand 24.7% respectively, with a payback period of 2.7 years, using a USD$1,300/oz price of gold and a USD $17.50/oz price of silver.
The project has a 4 year minelife, with total production of 60,056 ounces of gold and 408,498 ounces ofsilver, before expansion based on renewed exploration.
Eros Resources' businessobjective is the identification, acquisition and exploration of advanced-stageprojects with a North American focus.
By Vladimir BasovFor Kitco News
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