PEA Supports Renewed Mining at Sleeper Property

Paramount Gold Nevada has announced the results of a preliminary economic assessment (PEA) of its 100% owned Sleeper gold project in northwest Nevada. The project includes the historic Sleeper open-pit mine, which operated from 1986 to 1996 and produced 1.66 million oz of gold and 2.3 million oz of silver.

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Richmont Considering Deeper Mining at Island Gold

Richmont Mines has completed a preliminary economic assessment (PEA) of development of mineral resources between the 450- and 860-m levels below surface at its currently operating underground Island Gold mine 83 km northeast of Wawa, Ontario. The PEA considered an 800-metric-ton-per-day (mt/d) mining operation.

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Star Mountain Acquiring Hudbay’s Balmat Mine

Star Mountain Resources announced in mid-October that it is acquiring Hudbay’s Balmat zinc mine in upstate New York. Balmat has been on care and maintenance since August 2008. The care and maintenance workforce has kept mining permits current, Mine Safety and Health Administration (MSHA) inspections up-to-date, and environmental controls and conditions in regulatory compliance; and Star Mountain sees no legal or regulatory roadblocks that might delay reopening mining operations.

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Denison and Fission End Merger Plan

Denison Mines and Fission Uranium announced in mid-October the termination of a planned merger, originally announced in early July (E&MJ, September 2015, p. 10). At the deadline for submission of proxies, Denison shareholders strongly supported the plan, and a majority of the Fission shares were voted in favor, but the required two-thirds approval from Fission shareholders was not obtained. The merged company’s two key properties would have been Fission’s 100% owned Patterson Lake South project and Denison’s 60% owned Wheeler River project, both in northern Saskatchewan.

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