Also read this excerpt from the CKB July analysis in the Gold Report:
"...how was Calico able to pick up such a plum project (in a raging gold market, no less) on such attractive terms? The answer is the perceived jurisdiction risk associated with Oregon.
Notice my emphasis on the word “perceived.” As Calico’s corporate presentation amply demonstrates, fears that a project in Oregon will get roadblocked are decidedly overblown.
An independent reviewer of the situation commented: “Although numerous permits are required, and Federal, State, and local regulatory agencies are involved, it is the opinion of Telesto that, the permitting process for a chemical mining project in Oregon does not differ significantly from similar requirements for precious metal mining projects in other western states like Nevada, Idaho, or Arizona.”
The company goes on to note that numerous placer operations exist throughout the state and that Oregon Resource Corp. operates a mineral sands operation that produces chromite, garnet and zircon. The company’s plan for 2011 is to increase resources through in-fill drilling of the established resource and the potential feeder zones that may surround this deposit. In addition, Calico also plans to make as many of Grassy Mountain’s previously identified targets drill-ready and to evaluate the project for additional targets. Alongside a 15,000-foot drilling campaign will be metallurgical, geochemical, geological and mapping work. Before it engages in its 2012 Phase II drilling program, it will use the results from this year’s program to update the resource at Grass Mountain..."
calicoresources.com |
