Gold79 Mines Ltd. has recently received an Acceptance Letter from the United States Forest Service (USFS) for its Plan of Operations (POO) to conduct exploration activities at the Jefferson Canyon Project in Nevada. The Acceptance Letter signifies that the USFS considers the submitted POO acceptable based on the provided studies and documentation. The next steps in the process involve consultation with the public and state heritage agency, as well as other necessary reviews, which are anticipated to culminate in a Record of Decision and bonding before drilling activities can commence.
Derek Macpherson, President and CEO of Gold79, expressed optimism about this development, stating that it represents progress in the Jefferson Canyon permitting process. While drilling may not happen in 2024 due to the timing of the permitting process, efforts are ongoing to move towards that goal.
The original Plan of Operations for Jefferson Canyon was submitted in July 2021, and subsequent cultural and biological studies were finalized in Q2 2022. Feedback on proposed areas of disturbance relative to identified cultural sites was received in March 2023, prompting revisions to the plan, which was resubmitted in December 2023. Following further adjustments, the Acceptance Letter was received on August 26, 2024. The plan outlines 20 drill sites and associated roads for servicing.
The Jefferson Canyon project is situated in Nye County, Nevada, approximately 7 kilometers from Kinross’s Round Mountain operations. The site boasts a history of 145 drill holes, including notable results such as 41.2 meters at 6.4 g/t gold and 402 g/t silver. In 2022, Gold79 engaged in an Exploration and Option agreement with Kinross, with the latter meeting all financial obligations under the agreement and collaborating with Gold79 in the permit application process.
Furthermore, in line with a previous announcement from July 27, 2023, Gold79 issued 306,396 common shares of the Company as part of a share payment totaling US$48,000 (C$66,024) under an option agreement for the Gold Chain project. The shares are subject to a statutory hold period until December 16, 2024.
Robert Johansing, Vice President of Exploration at Gold79, serves as the qualified person (“QP”) under NI 43-101 regulations and has endorsed the technical content of this press release.
Gold79 Mines Ltd., a TSX Venture listed company, focuses on increasing gold resources in the Southwest USA through its projects in Nevada and Arizona. The Company also holds a 32.3% interest in the Greyhound Project in Nunavut, Canada, in partnership with Agnico Eagle Mines Limited.
For further information, individuals can contact Derek Macpherson, President & CEO, at the provided contact information. More details about Gold79 Mines Ltd. can be found on the company’s website.
Please note that this press release may contain forward-looking statements based on current expectations and forecasts, subject to risks and uncertainties inherent in the business operations of the Company. Any historical facts mentioned should also be considered forward-looking statements. It is advisable for readers to exercise caution and not solely rely on these forward-looking statements, as various factors could impact actual results or conditions. The Company does not intend, except where mandated by law, to update or revise any forward-looking statements.
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