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Waterton Global Mining Company announces significant permitting milestone for the Hollister Mine

May 7, 2014 • Mining & Resources

Waterton Global Mining Company, LLC (Waterton Mining), a wholly-owned portfolio company of Waterton Precious Metals Fund II Cayman, LP, yesterday announced that the final Record of Decision (ROD) for its Environmental Impact Statement (EIS) for the Hollister Mine has been issued by the US Department of the Interior, Bureau of Land Management (BLM).

Image credit: flickr User: Uncle Kick-Kick

Image credit: flickr User: Uncle Kick-Kick

According to the press release by company, the Hollister mine, also known as the “Hollister Project”, is situated in northern Nevada, at the very intersection of the Carlin Trend and the Northern Nevada Rift.  The Carlin Trend is well-known as one of the richest gold mining districts in the world, as well as one of the most productive gold mining regions in North America.

Waterton Mining acquired the Hollister Project in May 2013 and continued the EIS application that was initiated in 2008 by the previous owner of the mine.

The company considers the ROD, which was issued on 31 March 2014, a significant milestone since it will provide extensive value for the Hollister Project, namely: reducing operational and regulatory uncertainty for the project; extending the proposed project life; authorizing additional area for surface exploration; increasing mining and pumping rates; and allowing for the installation of grid power at the Hollister Project.

“The completion of the EIS secures the Hollister Project as a valuable and important asset for Waterton Mining,” said Isser Elishis, Managing Partner and Chief Investment Officer of Waterton Global Resource Management, Inc.

“This significant permitting milestone will allow additional capital investment that will increase the viability of the project and lead to long-term value creation.”

For more information about Waterton Global Mining Company and its operations, please visit: www.watertonglobal.com.

 

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