Gold Resource Corporation received their final permit for the Isabella Pearl Gold Project outside of Luning.
The open pit heap leach gold project was granted the positive record of decision on the environmental assessment.
The final permit, along with the approval from Gold Resource Corporation’s Board of Directors moves the Isabella Pearl mine into production.
A major milestone for the company and Mineral County.
Besides the record of decision and environmental assessment, Isabella Pearl was approved by both the Bureau of Land Management and Nevada Department of Environmental Protection. These final permits along with their permits for mercury, water, air and other ancillary permits which have already been in place, allows the Gold Resource Corporation to construct, operate and pour dore at Isabella Pearl.
The projected time for Isabella Pearl to be up and operational is 12 months of total construction time from when groundbreaking begins.
Gold Resource Corporation chose a third-party contractor for both the heap leach pad construction and the contract mining of the Isabella Pearl. A job fair in April was held with Ledcor in anticipation of this announcement.
In a statement released by Gold Corporation, Jason Reid, CEO and President of the company stated, “This is an exciting milestone and time for Gold Resource Corporation shareholders and our Nevada Mining Unit. We are pleased to have successfully navigated the permitting process and now shift our efforts to construction of our first Nevada gold project, the Isabella Pearl. We are currently in a strong cash position and focused on completing this project with cash and cashflow if possible. This goal will require metal prices and operations to continue as they have thus far this year. While we have other funding alternatives available if needed to help us overcome unforeseen challenges or metal price volatility, the Board of Directors and management of Gold Resource Corporation remain committed to shareholders and are moving forward with a goal to avoid or limit shareholder dilution to the extent possible as we move forward with the project. “
The statement could conclude, “We want to thank all those involved in this process including our staff and consultants, the Bureau of Land Management, the Nevada Division of Environmental Protection, and the Mineral County Board of Commissioners and local communities. Long term, we view Isabella Pearl as the first of several potential operating projects from our Nevada Mining Unit’s profile of potential high-grade gold properties. We believe both the State of Nevada and the local communities in which we operate will benefit from the positive economic impact from our operations.”