Mining News
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 Bell Mountain gold and silver mine project in Churchill County, Nevada.
The company said that this permit is one of the major permits required to move the project forward
"The WPCP is an integral part of an ongoing permitting process, which has included approval of a Plan of Operations and Environmental Assessment by the Federal Bureau of Land Management (BLM) with a Finding of No Significant Impact and Record of Decision in 2019," the company noted in a press-release.
President and CEO Ron Netolitzky stated, "This is a major milestone in the development of the Bell Mountain mine project. As we continue to advance additional permit applications, we are also planning additional exploration programs to enhance the resource at Bell Mountain as we look ahead toward a potential production decision."
Eros' 100% owned Bell Mountain gold project is located near Fallon, Nevada. Highlights of the Preliminary Economic Assessment include an after tax NPV @ 5% and IRR of $9.3M and 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 mine life, with total production of 60,056 ounces of gold and 408,498 ounces of silver, before expansion based on renewed exploration.
Eros Resources' business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus.
