VANCOUVER, March 11, 2013 /CNW/ - Calico Resources Corp. (TSX-V: CKB,
OTCQX: CVXHF) (the "Company" or "Calico") reports that it has received
a 16 year extension of time to construct a water system and apply water
to beneficial use at its 100% owned Grassy Mountain Project.
On February 8, 2012, Calico Resources USA Corp. filed an application for
extension of time to complete construction of a water system and to
apply water to beneficial use under Oregon Water Resources Department
("OWRD") Permit No. G-10994. The Permit is for water use for mining
purposes at the Grassy Mountain site. The public protest period closed
on July 27, 2012, and no protests were filed. On December 26, 2012,
OWRD issued a final order approving the requested extension of time,
which was subject to judicial review through February 25, 2013. No
petitions for judicial review were filed.
Buck Morrow CEO of Calico stated "The extension of time to complete the
water system is another milestone met by Calico. OWRD's approval of
the extension and no adverse filings for judicial review offers further
evidence that Oregon is a favorable jurisdiction to work in." The new
completion date for construction of the water system and application of
water to beneficial use is October 1, 2028. During that time frame,
Calico is authorized to use up to 2.0 cubic feet per second (898
gallons per minute) of groundwater year-round for mining and industrial
uses. As a condition of the extension, Calico will submit progress
reports to OWRD in 2017, 2022 and 2027 to provide evidence of diligence
towards completion of the project, and the reports will be subject to
On behalf of the Board,
Arden B. Morrow
Chairman 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:
Please contact Alec Peck at 1 855-589-0400.