PHOENIX, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Excelsior Mining Corp. (TSX:MIN) (FSE:3XS) (OTCQX:EXMGF) ("Excelsior" or the “Company”) is pleased to announce that the United States Environmental Protection Agency (“EPA”) has issued a draft operating permit, the Underground Injection Control (“UIC”) permit, for the Gunnison Copper Project, located in Cochise County, southeastern Arizona.
The draft UIC permit will remain open for public comment for a minimum of 30 days; the timing of the issuance of the final UIC permit is subject to this public comment period. The UIC permit is the last of the three key permits required to get into production; earlier this year the Arizona Department of Environmental Quality issued an Amended Aquifer Protection Permit for the Johnson Camp Mine, and an Aquifer Protection Permit for the Gunnison Copper Project.
Stephen Twyerould, the President and CEO, said, “The receipt of the Draft EPA Permit for public comment is another successful milestone for the Company. The team have done a great job working diligently with the EPA and local stakeholders to ensure this final permit is equally protective of the environment."
About Excelsior Mining
Excelsior Mining “The Copper Solution Company” is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project that is scheduled for commercial production in 2018. The 2016 Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 copper price and a 7.5 discount rate.
Excelsior’s technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.
Additional information about the Gunnison Copper Project can be found in the technical report filed on SEDAR at www.sedar.com entitled: “Gunnison Copper Project, NI 43-101 Technical Report, Feasibility Study” dated effective December 17, 2016.
