ELKO, NV, May 6, 2014 /CNW/ - Waterton Global Mining Company, LLC ("Waterton Mining") is pleased to announce that the U.S. Department of
the Interior, Bureau of Land Management (the "BLM") has issued the
final Record of Decision (the "ROD") for its Environmental Impact
Statement (the "EIS") for the Hollister Mine (the "Hollister Project").
Issued on March 31, 2014, the ROD is a significant milestone for the
Waterton Mining team and the development of the Hollister Project. The
issuance of the ROD, being the final stage of EIS approval, will unlock
considerable value for the Hollister Project by:
Reducing operational and regulatory uncertainty for the project;
Extending the proposed project life;
Authorizing additional area for surface exploration;
Increasing mining and pumping rates; and
Allowing for the installation of grid power at the Hollister Project.
"The completion of the EIS secures the Hollister Project as a valuable
and important asset for Waterton Mining," said Isser Elishis, Managing
Partner and Chief Investment Officer of Waterton Global Resource
Management, Inc. "This significant permitting milestone will allow
additional capital investment that will increase the viability of the
project and lead to long-term value creation."
The EIS application process was initiated in 2008 by the previous owner
of the Hollister Project and was continued by Waterton Mining when it
acquired the Hollister Project in May 2013.
About the Hollister Mine
Once considered to be one of the highest grade gold deposits in the
world, the Hollister Mine is located in northern Nevada, at the
intersection of the Carlin Trend and the Northern Nevada Rift. The
Carlin trend is one of the world's richest gold mining districts and is
one of the most prolific gold mining regions in North America.
About Waterton Global Mining Company, LLC
Waterton Global Mining Company, LLC is an emerging precious metals
mining company with assets in northern and southern Nevada. Waterton
Global Mining Company, LLC is a wholly-owned portfolio company of
Waterton Precious Metals Fund II Cayman, LP (the "Fund"). The Fund is
advised by Waterton Global Resource Management, Inc. For more
information, please visit: www.watertonglobal.com.
SOURCE: Waterton Global Resource Management
For further information:
Waterton Global Resource Management, Inc.:
Cheryl Brandon, Partner, Investment Management
Bayfield Strategy, Inc.