VANCOUVER, May 30, 2012 /PRNewswire/ - Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (TSX: GBG; NYSE MKT: GBG; JSE: GBG) announces that the publication of the Notice of Availability for the Hollister Underground Mine Project Draft Environmental Impact Statement (DEIS) in the Federal Register is expected on June 1, 2012. The Hollister Project is operated by Rodeo Creek Gold Inc., a wholly owned subsidiary of Great Basin Gold.
This marks a major milestone in the National Environmental Policy Act (NEPA) process for the Hollister Project. The NEPA process analyzes the Proposed Action in order to determine if there will be significant environmental effects and to consider the environmental and related social and economic effects of the Proposed Action.
The key activities outlined in the Hollister DEIS Proposed Action include the following:
- Continued and expanded surface and underground exploration activities;
- Transition from underground exploration and bulk sampling activities to full-scale production;
- The flexibility to install either another ramp, or a shaft or raise, in order to access different parts of the orebody; and
- Construction of an 11.6-mile power line to the mine site.
The standard comment period for DEIS documents is at least 45 days. During this time comments can be provided to the Bureau of Land Management (BLM) with regard to any aspect of the DEIS. After this period, the comments are analyzed and responses are generated. If there are substantive comments that require changes, additional analyses, corrections, etc., these will be addressed in the Final EIS (FEIS).President and CEO Ferdi Dippenaar commented: "We are pleased that the NEPA process which we have been working on with the BLM since late 2009 has culminated in the publication of the DEIS. This is a significant milestone in the delivery of the Hollister project as a fully permitted operation. If all goes according to the planned administrative guidelines we anticipate that the FEIS could be ready during the second half of 2012."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts