Timberline Reports Permitting Progress at Butte Highlands Gold Project
29 Enero 2014 - 7:30AM
Marketwired
Timberline Reports Permitting Progress at Butte Highlands Gold
Project
COEUR D'ALENE, IDAHO--(Marketwired - Jan 29, 2014) - Timberline
Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline"
or the "Company") announced today that ongoing permitting
activities at its Butte Highlands Gold Project have yielded
positive results and provide encouragement that final permits may
soon be granted.
The Company has received a letter constituting the approval of
the Butte-Silver Bow Public Works Department for the construction
of certain improvements on roads to be used for haulage of
mineralized material from its Butte Highlands Project, an
underground gold mine being developed just south of Butte, Montana.
The improvements receiving the county's approval include the
replacement of a bridge and a culvert, reconstruction of an
intersection, and the erection of traffic control signage. The
bridge replacement project consists of the installation of new,
concrete bridge abutments and the placement of a new pre-stressed
concrete bridge deck.
Timberline President and CEO Paul Dircksen commented, "We
appreciate the support of Butte-Silver Bow for this project that is
expected to provide significant economic benefits and job growth to
Butte and Silver Bow County. We look forward to continued close
engagement with the city and county as the project advances through
final permitting."
The Montana Department of Environmental Quality ("MDEQ") is in
the process of completing the Final Environmental Impact Statement
("Final EIS") for the project. While the timeline for the delivery
of the Final EIS, the Record of Decision ("ROD"), and the Final
Hard Rock Operating Permit ("Final HROP") is in the hands of the
MDEQ, our current expectation is that the Final EIS should be
published in February with the ROD and the Final HROP being issued
approximately three weeks thereafter.
The United States Forest Service ("USFS") continues to work on
the road use permit to haul material from the mine site to public
roadways. The Company and its JV partner are following up on some
significant developments that may positively impact the permitting
process of the intended haul route.
All of the site activities continue to be carried out under the
authorization of the exploration license previously granted to our
joint venture company, Butte Highlands JV, LLC ("BHJV"), which is
operating the project.
Timberline owns a 50-percent carried-to-production interest in
BHJV, which owns the Butte Highlands Gold Project where mining is
expected to commence following the issuance of the final hard rock
operating permit and the U.S. Forest Service approval of a road-use
plan of operations for material haulage. Timberline's joint venture
partner is funding all mine development costs through to commercial
production with Timberline's share of those costs to be repaid from
proceeds of future mine production.
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States.
Timberline holds a 50-percent carried interest ownership stake in
the Butte Highlands Joint Venture in Montana. Timberline's
exploration is primarily focused on the major gold districts 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 that are developed into profitable
mines.
Timberline is listed on the NYSEMKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Cautionary Note
The Company clarifies that BHJV has decided to advance the Butte
Highlands Gold Project into production without first establishing
NI 43-101 compliant mineral resources supported by an independent
technical report or completing a feasibility study. A production
decision without the benefit of a technical report independently
establishing mineral resources or reserves and any feasibility
study demonstrating economic and technical viability creates
increased uncertainty and heightens economic and technical risks of
failure associated with the Butte Highlands Project.
Forward-looking Statements
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 and results 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 and upgrade the South
Eureka resource, the timing or results of the Company's exploration
and development plans and programs at Butte Highlands, including
the timing of obtaining necessary permits, the development of and
production at 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 and haul
route for the Butte Highlands project, targeted date for production
at South Eureka, the potential for a heap-leach mine at South
Eureka, and possible growth of the Company and the Company's
expected operations, including potential development of an open pit
extraction and 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, 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, 2013. 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.
Timberline Resources Corp.Paul DircksenCEO208.664.4859
Timberline Resources (TSXV:TBR)
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