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Solitario Exploration & Royalty Corp. (“Solitario;” NYSE MKT:
SLR) and Ely Gold & Minerals (“Ely Gold;” TSX.V:
ELY) are pleased to announce that the Mine Plan of Operations for the Mt. Hamilton Gold Project has been filed with the U.S. Department of Agriculture – Forest Service. The Mt. Hamilton Gold Project is situated in White Pine County of east-central Nevada. This filing is an important benchmark in the ongoing permitting process for construction and eventual gold-silver production on the property.
The Plan of Operations provides details for mining two contiguous gold-silver deposits, the Centennial and Seligman deposits, using open pit mining methods and recovering gold by conventional heap leach processing. Mining will occur on both private and US Forest Service lands, while gold processing will occur entirely on private property owned by Mt Hamilton LLC. (jointly owned by Solitario and Ely).
Chris Herald, President and CEO of Solitario commented, “We have worked hard to produce a comprehensive mine plan that minimizes environment impacts on public and private lands. We are looking forward to working cooperatively with the U.S Forest Service, state and county officials and other stakeholders during the permitting process.”
“We believe the quality and detailed approach of the Plan of Operations will assist in the timely review and approval of the project – with the benefit of providing local jobs and economic stimulus for eastern Nevada,” stated Trey Wasser, Ely Gold’s President & CEO.
Terms of the Mt. Hamilton LLC Joint Venture
Solitario and Ely Gold formed the Mt. Hamilton LLC (“MH-LLC”), a limited liability company which holds 100% of the Mt. Hamilton project assets under an Operating Agreement (“MH-Agreement”). Per the terms of the MH-Agreement, DHI-US, Ely Gold’s wholly owned US subsidiary, has a 20% interest in the MH-LLC and Solitario has an 80% interest.