DENVER--(BUSINESS WIRE)--
Midway Gold Corp. (TSX and NYSE-MKT: MDW) (the “Company” or “Midway”)
announces that the Draft Environmental Impact Statement (DEIS) for the
Gold Rock Project is available for public comment as published by the
U.S. Bureau of Land Management (BLM) in the federal register on February
13th, 2015. The DEIS provides an analysis of environmental,
social and economic impacts of the proposed mine plan and possible
alternatives. The public is invited to submit comments on the Gold Rock
Project during a 45-day comment period ending March 30, 2015. The BLM
will then address these comments prior to approving the Final EIS and
awarding a Record of Decision.
“Publication of the Draft EIS is an important milestone for both the
Gold Rock project and Midway Gold,” said Bill Zisch, Midway’s President
& CEO. “While our immediate priority is first gold production at our Pan
project, continuing to advance the Gold Rock project is consistent with
our Midway vision; to develop our portfolio of simple, manageable,
financeable gold projects in Nevada. We learned many lessons through the
permitting process at Pan and have been able to apply them to our
advantage at Gold Rock. Among those lessons is the value of public
support for this project. We invite you to support Gold Rock’s progress
by submitting your comments and we look forward to reading them.”
What is NEPA?
The Environmental Impact Statement (EIS) for our Gold Rock Project is
required under the National Environmental Policy Act (NEPA). According
to “A Citizen’s Guide to NEPA,” the federal government’s official
handbook states:
“The environmental review process under NEPA provides an opportunity
for you to be involved in the Federal agency decision making process …
NEPA requires Federal agencies to consider environmental effects that
include, among others, impacts on social, cultural, and economic
resources, as well as natural resources. Citizens often have valuable
information about places and resources that they value and the potential
environmental, social, and economic effects that proposed federal
actions may have on those places and resources. NEPA’s requirements
provide you the means to work with the agencies so they can take your
information into account.”
What is an EIS?
The Gold Rock project is on federal land and NEPA requires the Bureau of
Land Management (BLM) to analyze potential environmental consequences of
the planned project and any reasonable alternatives. An EIS is the
analysis of how the proposed project, and possible alternatives, will
impact the environment. It proposes mitigation measures for identified
impacts. Midway is far advanced in the process, which includes baseline
studies, a Draft EIS, and then the Final EIS. The Draft EIS comment
period invites the public to be involved for the second time in the NEPA
process. Comments will be addressed in the Final EIS, which will
then inform the government’s final decision and mitigation requirements.
Midway completed this entire process for its Pan Mine and received the
Record of Decision in December 2013.
Why Public Involvement?
Midway understands that public input is a crucial part of involving the
community in our project. We believe the project will be improved by
this involvement and support the BLM in encouraging residents to submit
comments on the Pan project. We understand that living and working in
Nevada is a privilege and we view this phase of the permitting process
as an opportunity for the public to take part in building our business
in Nevada.
You can learn more about the NEPA process by reading “A Citizen’s Guide
to NEPA” available from the BLM, or on the Web at: http://www.blm.gov/pgdata/etc/medialib/blm/nm/programs/planning/planning_docs.Par.53208.File.dat/A_Citizens_Guide_to_NEPA.pdf
Where to Comment
The BLM will be accepting written comments beginning February 13 and
ending March 30. Below are the options available by which to submit
comments:
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- Mail to the BLM directly
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BLM Ely District Office
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HC 33 Box 33500
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Ely, NV 89301
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Attn: Dan Netcher
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- Fax to Netcher at (775) 289-1910 or
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- Submit electronically on the BLM’s ePlanning website: http://on.doi.gov/1zAxyW9
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Gold Rock Project, Nevada
Gold Rock is east of the Pancake Range of western White Pine County,
Nevada. The property is approximately 10.5 km southeast of Midway’s Pan
Project and approximately 104 km west of Ely, Nevada. Historic gold
production at Gold Rock came from the Easy Junior open pit mine during
the 1980s and the 1990s. Midway is developing Gold Rock as its second
gold project in Nevada, and expects to complete the federal NEPA process
in 2015. An updated resource estimate for the project was defined in May
2014 as illustrated in Figure 1.
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Figure 1: Updated Resource – May 20141
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GOLD ROCK RESOURCE ESTIMATE
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TONNES
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GRADE
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CONTAINED
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(‘000s)
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(g/t)
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(‘000s oz)
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M&I
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20,215
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0.79
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513
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Inferred
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24,303
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0.69
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536
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1Resource per Amended NI 43-101 Technical Report Updated
Mineral Resource Estimate for the Gold Rock Project, White Pine
County, Nevada (January 2015). Assumes cutoff grade of 0.27 g/t.
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This release has been reviewed and approved for Midway by Eric
LeLacheur, Nevada Regional Geologist for Midway, and a "qualified
person" as that term is defined in NI 43-101.
About Midway Gold Corp.
Midway Gold Corp. is a precious metals company with a vision to explore,
design, build and operate gold mines in a manner accountable to all
stakeholders while assuring return on shareholder investments.
Neither the TSX, its Regulation Services Provider (as that term is
defined in the policies of the TSX ) nor the NYSE MKT accepts
responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements that
are not historical facts and include, but are not limited to, statements
about the Company's intended work plans and resource estimates,
including plans for the further development of the Gold Rock Project,
which will be contingent upon a variety of factors, including but not
limited to, establishment of mineral reserves and at least a
prefeasibility study which have not yet been developed. Forward-looking
statements are typically identified by words such as: "may", "should",
"plan", "believe", "predict", "expect", "anticipate", "intend",
"estimate", postulate" and similar expressions or the negative of such
expressions or which by their nature refer to future events. The
forward-looking statements in this press release are subject to various
risks, uncertainties and other factors that could cause the Company's
actual results or achievements to differ materially from those expressed
in or implied by forward looking statements. These risks, uncertainties
and other factors include, without limitation, risks related to the
timing and completion of the Company's intended work plans, risks
related to fluctuations in gold prices; uncertainties related to raising
sufficient financing to fund the planned work in a timely manner and on
acceptable terms; changes in planned work resulting from weather,
logistical, technical or other factors; the possibility that results of
work will not fulfill expectations and realize the perceived potential
of the Company's properties; uncertainties involved in the
interpretation of drilling results and other tests and the estimation of
gold resources and reserves; the possibility that required permits may
not be obtained on a timely manner or at all; the possibility that
capital and operating costs may be higher than currently estimated and
may preclude commercial development or render operations uneconomic; the
possibility that the estimated recovery rates may not be achieved; risk
of accidents, equipment breakdowns and labor disputes or other
unanticipated difficulties or interruptions; the possibility of cost
overruns or unanticipated expenses in the work program; changes in
interest and currency exchanges rates; local and community impacts and
issues; environmental costs and risks; and other factors identified in
the Company's SEC filings and its filings with Canadian securities
regulatory authorities. Forward-looking statements are based on the
beliefs, opinions and expectations of the Company's management at the
time they are made, and other than as required by applicable securities
laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or expectations,
or other circumstances, should change. Although the Company
believes that such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be correct. For
the reasons set forth above, investors should not attribute undue
certainty to or place undue reliance on forward-looking statements.
Cautionary note to U.S. investors concerning estimates of reserves
and resources: This press release and the documents referenced in this
press release use the terms “reserve" and "mineral
resource“, which are terms defined under Canadian National Instrument
43-101 and the Canadian Institute of Mining and Metallurgy
Classification system. Such definitions differ from the
definitions in U.S. Securities and Exchange Commission ("SEC") Industry
Guide 7. Under SEC Industry Guide 7 standards, a "final" or
"bankable" feasibility study is required to report reserves, the
three-year historical average price is used in any reserve or cash flow
analysis to designate reserves and the primary environmental analysis or
report must be filed with the appropriate governmental authority. Mineral
resources are not mineral reserves and do not have demonstrated economic
viability. The SEC normally only permits issuers to report
mineralization that does not constitute SEC Industry Guide 7 compliant
"reserves" as in-place tonnage and grade without reference to unit
measures. The references to a “resource” in this press release
and the documents referenced in this press release are not normally
permitted under the rules of the SEC. It cannot be assumed that
all or any part of mineral deposits in any of the above categories will
ever be upgraded to Guide 7 compliant reserves. Accordingly, disclosure
in this press release and in the technical reports referenced in this
press release may not be comparable to information from U.S. companies
subject to the reporting and disclosure requirements of the SEC.