Timberline Resources Corporation (TSXV:TBR,NYSE:TLR, AMEX:TLR) announced that it has received a draft Hard Rock Operating Permit for its Butte Highlands Gold Project.
As quoted in the press release:
The initial mine plan at Butte Highlands will target production of approximately 400 tons per day for the first four years of operation with material direct shipped to a nearby mill. In 2011, Timberline completed a 50,000-foot (15,240-metre) underground drill program which returned intercepts of up to 14.5 feet (4.4 metres) grading 6.77 ounces of gold per ton (231.85 grams per metric tonne).
Timberline’s CEO, Paul Dircksen, said:
This permit is a critical milestone for Timberline and our joint-venture partner. The regulators have been fastidious about our permit application, and we have provided thorough responses to each of their inquiries and comments. Our JV partner continues to fully fund the permitting and development at Butte Highlands, and they are actively involved and working closely with us to expedite the remaining permits and complete project development.