Amador County – The Sutter Gold Mining (SGM) Incorporation announced Tuesday that it has secured the major permits necessary to move closer to its goal of converting its Sutter Creek-based tourist facility back into a real working gold mine. The Colorado-based incorporation is a self-described “junior gold exploration and development company” currently focusing its efforts on the Sutter Creek area project, also known as the Lincoln Project, named after the original Lincoln Mine from which prospector Leland Stanford made his fortune. Stanford went on to found Stanford University and to partner in financing the Central Pacific Railroad. SGM also owns the rights to a geologically similar project located in the northern Baja region of Mexico. In a release, Chief Financial Officer Robert Hutmacher said “the company has now secured the major permits and approvals needed to construct and operate the Lincoln Project.” These include a Conditional Use Permit issued by Amador County and an environmental review of the project pursuant to the California Environmental Quality Act (CEQA). He said “these permits and approvals provide the critical components for project construction and operation” and “(SGM) is on track to obtain the remaining permits and approvals over the next 14 to 20 months, as the Company completes final design, secures project financing and completes construction.” SGM controls over three miles of Mother Lode property, 90 percent of which has yet to be explored. The current resource estimate for the Sutter Gold Project indicates that a collective 700,000 ounces of gold could possibly be extracted from this area. Most of the potential gold extraction exists along the Melones Fault in the eastern portion of SGM’s property and mineral holdings. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 10 March 2010 17:00
Sutter Gold Mining Inc. Secures Major Permits for Operation
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Amador County – The Sutter Gold Mining (SGM) Incorporation announced Tuesday that it has secured the major permits necessary to move closer to its goal of converting its Sutter Creek-based tourist facility back into a real working gold mine. The Colorado-based incorporation is a self-described “junior gold exploration and development company” currently focusing its efforts on the Sutter Creek area project, also known as the Lincoln Project, named after the original Lincoln Mine from which prospector Leland Stanford made his fortune. Stanford went on to found Stanford University and to partner in financing the Central Pacific Railroad. SGM also owns the rights to a geologically similar project located in the northern Baja region of Mexico. In a release, Chief Financial Officer Robert Hutmacher said “the company has now secured the major permits and approvals needed to construct and operate the Lincoln Project.” These include a Conditional Use Permit issued by Amador County and an environmental review of the project pursuant to the California Environmental Quality Act (CEQA). He said “these permits and approvals provide the critical components for project construction and operation” and “(SGM) is on track to obtain the remaining permits and approvals over the next 14 to 20 months, as the Company completes final design, secures project financing and completes construction.” SGM controls over three miles of Mother Lode property, 90 percent of which has yet to be explored. The current resource estimate for the Sutter Gold Project indicates that a collective 700,000 ounces of gold could possibly be extracted from this area. Most of the potential gold extraction exists along the Melones Fault in the eastern portion of SGM’s property and mineral holdings. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
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