Timberline Receives Notice of Completeness for Butte Highlands Water Discharge Permit Application
12 7월 2012 - 9:00PM
Marketwired
Timberline Resources Corporation (TSX VENTURE:TBR)(NYSE
Amex:TLR)(NYSE MKT:TLR) ("Timberline" or the "Company") announced
today that the Company has received notification from the Montana
Department of Environmental Quality (MDEQ) that its application for
the required water discharge permit (MPDES Permit) for the Butte
Highlands Joint Venture Gold Project is substantially complete.
Timberline announced the submission of its initial application in
late-March 2012, with subsequent amendments submitted in June.
Timberline CEO Paul Dircksen commented, "Since we assumed
day-to-day project management earlier this year, we have made
steady progress toward obtaining the water discharge and operating
permits at Butte Highlands. This notification from the MDEQ
increases our confidence that we will have the MPDES Permit by
year-end. Meanwhile, we continue to acquire necessary information
to support our Hard Rock Operating Permit application. We believe
we are on-track to obtain final permits and to commence gold
production at Butte Highlands by mid-2013.
The MDEQ requires all sources of water discharge, such as mine
de-watering, to obtain and comply with an MPDES Permit. The goal of
the Montana Pollutant Discharge Elimination System (MPDES) program
is to control point source discharges of water such that quality in
state surface waters is protected.
As announced previously, the initial mine plan at Butte
Highlands will target production of approximately 400 to 500 tons
per day for the first four years of operation with material direct
shipped to a nearby mill. In 2011, Timberline completed a
50,000-foot (15,240-metre) underground drill program which returned
intercepts of up to 14.5 feet (4.4 metres) grading 6.77 ounces of
gold per ton (231.85 grams per metric tonne). The Company has also
completed over 4,000 feet (1.2 kilometres) of underground
development and completed construction of essentially all surface
facilities for the project. The Butte Highlands Joint Venture is
located within a favorable geologic domain that has hosted several
multi-million ounce gold deposits including Butte, Golden Sunlight,
Montana Tunnels, and Virginia City.
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States.
Timberline is working on a transaction to increase its ownership
stake in its Butte Highlands Joint Venture in Montana where gold
production is targeted to commence in mid-2013. Timberline's
exploration is primarily focused on the goldfields of Nevada, where
it is advancing its flagship Lookout Mountain Project toward a
production decision while exploring a pipeline of quality
earlier-stage projects at its South Eureka Property and elsewhere.
Timberline management has a proven track record of discovering
economic mineral deposits and developing them into profitable
mines.
Timberline is listed on the NYSE MKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the timing of the Company's continued exploration and
drill program at South Eureka and Lookout Mountain, the timing of
assay results from such drilling program being released, the
Company's ability to expand the South Eureka resource, purchase of
the Butte Highlands JV, LLC membership interests (including the
expected timing of such purchase), the timing or results of the
Company's drill programs at Butte Highlands, including the timing
of obtaining necessary permits, the development and production of
the Company's Butte Highlands project and projects on its South
Eureka property, the potential life of the mine at the Butte
Highlands project, the targeted production date for the Butte
Highlands project, targeted date for production at South Eureka,
the potential for a heap-leach mine at South Eureka, targeted dates
for the South Eureka technical report and economic scoping study,
and possible growth of the Company and the Company's expected
operations, including potential development of an open pit
extraction and run-of-mine heap leach processing and operation at
South Eureka. When used herein, the words "anticipate," "believe,"
"estimate," "upcoming," "plan," "target", "intend" and "expect" and
similar expressions, as they relate to Timberline Resources
Corporation, its subsidiaries, or its management, are intended to
identify such forward-looking statements. These forward-looking
statements are based on information currently available to the
Company and are subject to a number of risks, uncertainties, and
other factors that could cause the Company's actual results,
performance, prospects, and opportunities to differ materially from
those expressed in, or implied by, these forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, whether or not the
Company completes the purchase of the Butte Highlands JV, LLC
membership interests, risks related to the timing and completion of
the drilling programs at Butte Highlands and South Eureka, risks
and uncertainties related to mineral estimates, risks related to
the inherently dangerous activity of mining, and other such
factors, including risk factors discussed in the Company's Annual
Report on Form 10-K for the year ended September 30, 2011. Except
as required by Federal Securities law, the Company does not
undertake any obligation to release publicly any revisions to any
forward-looking statements.
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.
Contacts: Timberline Resources Corporation Paul Dircksen CEO
208.664.4859
Timberline Resources (QB) (USOTC:TLRS)
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Timberline Resources (QB) (USOTC:TLRS)
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