Gold Stocks; Sutter Gold (TSX VENTURE:SGM) Advances Closer to Production-Receives Agency Approval of Construction Documents for Mine Waste Disposal Units
VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) - Oct. 6, 2010) - Sutter Gold Mining Inc. (TSX VENTURE:SGM) ("Sutter" or the "Company") is pleased to announce that the Company has received regulatory approval of construction documents for two mining waste disposal units, key approvals required to develop and operate at the Company's Lincoln Project (the "Project") located in the historic Mother Lode Gold Belt of Amador County, California.
Regulatory Approval of Mining Waste Unit Construction Documents
As part of the Company's ongoing mine permitting and permit compliance initiatives, Sutter recently received approval from the California Regional Water Quality Control Board (RWQCB) of construction-level design documents for two permitted mine waste disposal units at the Company's Lincoln Mine Project located in California's Mother Lode Gold District of Amador County. Earlier this year, the Company submitted a design report including construction-level plans, specifications, and a construction quality assurance plan for the Waste Rock Pile (WRP) and Surface Fill Unit (SFU). Sutter is now permitted to use the WRP to store development rock from expansion of the underground workings at the Lincoln Mine during the development and production phases of the Lincoln Mine and is also permitted to use the SFU to dispose of a portion of the mill tailings during production phase of the Project. In addition, Sutter is permitted to dispose of the balance of the mill tailings in the underground workings.
This design submittal and approval are required by provisions of the Project's Waste Discharge Requirements (permit) and represent critical path achievements in obtaining the remaining permits required to develop and operate the Project. The Company is incorporating the approved designs into pending permit applications necessary to complete remaining permitting initiatives including wetlands and related permits, the Reclamation Plan, the NPDES Stormwater Permit and grading permits. For a description of other ongoing permitting initiatives, see Sutter news release from August 10, 2010.
43-101 Preliminary Assessment Update
The Company and its consultants are in the process of completing a NI-43-101 Preliminary Economic Assessment ("PEA") on the Project, see Sutter news release from August 10, 2010. The PEA is evaluating the design and development of an initial mining and milling operation focused only on the upper portion of the Lincoln-Comet deposit utilizing existing mine infrastructure in order to minimize development costs and timing. The PEA remains on track for completion and release in Q4 of 2010.
About Sutter
Sutter is a growth-oriented exploration and development company preparing to become a North American gold producer. The Company has two projects: the Lincoln Project located in the Mother Lode Gold Belt of California and the Santa Theresa Project located in the Northern Baja region of Mexico. Currently, the Company's primary focus is the evaluation and development of the Lincoln Project located on the California Mother Lode Gold Belt in Amador County. Sutter currently controls approximately 3.6 miles of the Mother Lode of Amador County, and with 90% of the property still unexplored, potential exists both at depth and along strike of the known mineralized zones. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located. Properties under the Company's control include eight historic mines with significant historic gold production totaling over 3.5 million ounces or 27% of the historic gold production from the Mother Lode. Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode successfully mined gold to depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 g/t gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
James Crombie, President, CEO & Director
Sutter Gold Mining Inc.
Regulatory Approval of Mining Waste Unit Construction Documents
As part of the Company's ongoing mine permitting and permit compliance initiatives, Sutter recently received approval from the California Regional Water Quality Control Board (RWQCB) of construction-level design documents for two permitted mine waste disposal units at the Company's Lincoln Mine Project located in California's Mother Lode Gold District of Amador County. Earlier this year, the Company submitted a design report including construction-level plans, specifications, and a construction quality assurance plan for the Waste Rock Pile (WRP) and Surface Fill Unit (SFU). Sutter is now permitted to use the WRP to store development rock from expansion of the underground workings at the Lincoln Mine during the development and production phases of the Lincoln Mine and is also permitted to use the SFU to dispose of a portion of the mill tailings during production phase of the Project. In addition, Sutter is permitted to dispose of the balance of the mill tailings in the underground workings.
This design submittal and approval are required by provisions of the Project's Waste Discharge Requirements (permit) and represent critical path achievements in obtaining the remaining permits required to develop and operate the Project. The Company is incorporating the approved designs into pending permit applications necessary to complete remaining permitting initiatives including wetlands and related permits, the Reclamation Plan, the NPDES Stormwater Permit and grading permits. For a description of other ongoing permitting initiatives, see Sutter news release from August 10, 2010.
43-101 Preliminary Assessment Update
The Company and its consultants are in the process of completing a NI-43-101 Preliminary Economic Assessment ("PEA") on the Project, see Sutter news release from August 10, 2010. The PEA is evaluating the design and development of an initial mining and milling operation focused only on the upper portion of the Lincoln-Comet deposit utilizing existing mine infrastructure in order to minimize development costs and timing. The PEA remains on track for completion and release in Q4 of 2010.
About Sutter
Sutter is a growth-oriented exploration and development company preparing to become a North American gold producer. The Company has two projects: the Lincoln Project located in the Mother Lode Gold Belt of California and the Santa Theresa Project located in the Northern Baja region of Mexico. Currently, the Company's primary focus is the evaluation and development of the Lincoln Project located on the California Mother Lode Gold Belt in Amador County. Sutter currently controls approximately 3.6 miles of the Mother Lode of Amador County, and with 90% of the property still unexplored, potential exists both at depth and along strike of the known mineralized zones. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located. Properties under the Company's control include eight historic mines with significant historic gold production totaling over 3.5 million ounces or 27% of the historic gold production from the Mother Lode. Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode successfully mined gold to depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 g/t gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
James Crombie, President, CEO & Director
Sutter Gold Mining Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Sutter Gold Mining Inc.
Robert Hutmacher
Chief Financial Officer
303 238 1438 ext. 22
bhutmacher@suttergoldmining.com
www.suttergoldmining.com
Sutter Gold Mining Inc.
Robert Hutmacher
Chief Financial Officer
303 238 1438 ext. 22
bhutmacher@suttergoldmining.com
www.suttergoldmining.com
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