• 1.6 million ounces of gold in measured and indicated resources , as well as 716,000 ounces in inferred resources
• 42 million ounces of silver in measured and indicated resources , as well as 21.8 million ounces of inferred resources ; and
• 111 million tons of contained iron in 341 million tons at an average grade of 33 percent iron at a 20 percent iron cutoff in the measured and indicated category At this time , Nevada Copper is most focused on completing Pumpkin
Hollow ’ s feasibility study in the third quarter of this year , McKnight notes .
“ We are at the site doing step out drilling , and the deposit is open for expansion ,” he says . “ We will initiate permitting for phase 1 soon . We have permits for the underground development , but we can ’ t process significant quantities of ore without the additional processing permits from the state . Phase two will start early next year , and that will involve the environmental impact study , federal permitting and land use permits .”
Strong support
Nevada Copper says that one of Pumpkin Hollow ’ s best attributes is its “ pro-mining location with excellent local infrastructure .” McKnight explains the development is a “ robust project ,” bolstered by a safe political environment , and “ a good permitting regime ” has been established thanks to healthy cooperation from the county government .
“ The project is in a benign area , so we are not making any huge impacts to the land and there are no major issues associated with the development ,” he says . “ The area is really supportive of the development , which will allow us to take advantage of the good copper prices right now .”
Because so much activity was happening in the Yerington area in the 1960s , the area surrounding Pumpkin Hollow is knowledgeable of the mining industry and supportive of Nevada Copper ’ s plans . As a historic mining area , the population ’ s skill levels also are high , McKnight notes .
“ The property is only one-and-a-half hours to Reno , so it will be easy to attract people back to this area to work ,” he says . “ There are a lot of local skills available now , and combined with the workers who come back , that is a good sign that we will have the skills we need when we ’ re ready for production . Plus , we are close to Reno and near the Sierras , and those are attractive areas to live .”
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