An Indian government Advisory Group on Forests has recommended final approval of 'Forest Clearance' for a pre-approved 30-year mining lease on Pebble Creek Mining's Askot deposit in Uttarakhand, India.
India’s Ministry of Environment and Forests convened a hearing in the Uttarakhand state capital of Dehradun with all concerned State officials present. At the hearing’s conclusion, it was announced that the company would be granted Forest Clearance. This is the last remaining permit the company requires in order to be granted the Mining Lease.
The permit establishes the terms under which the company may remove trees, provide for tree planting elsewhere and otherwise alienate certain surface lands. The Company believes Askot is the first non-ferrous metals project to have advanced to this approval stage in many decades.
Askot is a massive sulphide deposit containing copper, zinc, lead, silver and gold. The prospect has an indicated mineral resource estimate compliant with Canada’s National Instrument 43-101. The deposit is held by Pebble Creek’s wholly-owned Indian subsidiary Adi Gold Mining.
Meanwhile, Pebble Creek has entered into a confidentiality agreement with a major international company to evaluate Askot and other projects in order to assess any prospects of acquiring an interest in the projects.
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