US Gold subsidiary Gold King has received a conditional surface gold mine permit from the Wyoming Department of Environmental Quality (WDEQ) for its CK Gold Project.

The permit marks a significant milestone for the project situated in the Silver Crown mining district of south-east Wyoming.

This approval is subject to conditions, including a $5.1m reclamation performance bond before commencing construction or mining activities.

The project must also secure WYPDES permits for multiple discharge points and AQD permits before any operations can begin.

The CK Gold Project, previously known as Copper King, has been revitalised under the current management since August 2020.

The team has been working towards developing the site, which had been inactive for years.

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Environmental baseline studies began in September 2020, encompassing water monitoring, ecological assessments and cultural evaluations.

These studies informed the mine operating plan and closure plan permit application submitted to the WDEQ.

By November 2022, the WDEQ acknowledged the technical completeness of the application, leading to a detailed review process. This included expert analysis contracted by the WDEQ.

Following a 30-day public notice period that ended on 28 March 2024, the mine operating permit was conditionally approved.

US Gold has now resumed work on updating the prefeasibility study and completing the feasibility study for the CK Gold Project.

With the latest permit approval, the company is poised to advance the project further, marking a significant step in its transition from exploration to development.

US Gold director, president and CEO George Bee said: “Having previously been granted the Industrial Siting Permit in June last year and now the Mine Operating Permit we have cleared the major regulatory hurdles towards project development.

“Work to meet final authorisation for development is well under way. The remaining conditions are the approval of the reclamation bond, which has already been submitted, the Wyoming Pollutant Discharge Elimination System permitting process, which is in the final stages of approval, and the WDEQ Air Quality Division permits, where technical work is under review.

“We remain on track to receive the necessary permits around mid-year, as per prior guidance.”