NEWS ROUNDUP — Permit obtained for San Juan mine

Obtaining a permit to build and operate a mine in California was relatively easy for Siskon Gold (NASDAQ). The junior recently obtained approval to construct its San Juan gold mine, only a year after it applied for the permit.

Siskon President Tim Callaway is pleased the approval was obtained on schedule and with reasonable conditions. “Our financing is completed, much of the equipment is purchased and we are close to starting construction,” he said.

Situated in northern California’s Nevada Cty., the mine is expected to produce about 40,000 oz. gold per year at cash costs of under US$200 per oz. Ore will be mined using room-and-pillar methods and the mill will feature a gravity recovery circuit.

More than US$27 million has already been spent on the extensively drilled and developed project. The minable reserve is considered equal to 257,000 oz. gold and there is an indicated reserve of an additional 100,000 oz. The remaining capital cost to begin construction is estimated to be $7 million.