VANCOUVER, Feb. 21, 2012 /CNW/ - Calico Resources Corp. (TSX-V: CKB,
OTCQX: CVXHF) (the "Company" or "Calico") is pleased to report that the
Oregon Department of Geology and Mineral Industries (DOGAMI) has
accepted Calico's Notice of Intent (NOI) and Memorandum of
Understanding (MoU) for the Grassy Mountain Project. "This is an
all-important first phase of the mine permitting process that will run
in parallel with the environmental data collection and our continued
exploration/development of the Grassy Mountain Project. As part of
this phase, DOGAMI and the Company will prepare a permitting process
timeline." said Bill Wagener President & CEO. The Company is extremely
pleased with the active response and cooperation it has received from
all the governing agencies regarding the Grassy Mountain Project.
The NOI serves as official notification to the State of Oregon that
Calico plans to construct an underground mine and surface mill complex
to develop the Grassy Mountain gold resource located in Malheur County,
Oregon. The NOI is submitted as a first-step in the "pre-application
phase". During the pre-application phase, the Company, DOGAMI (as the
facilitating agency) along with other key State agencies, determine the
environmental and other studies required to be completed prior to the
submission of a completed application.
The MoU is an agreement between the State and Calico whereby the
additional costs incurred by the State agencies associated with the
pre-application phase are reimbursed by the Company.
On behalf of the Board,
William S. Wagener
President and CEO
"Neither 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."
SOURCE Calico Resources Corporation
For further information:
Terri Anne Welyki
Vice-President of Corporate Development