VANCOUVER,
Feb. 21, 2012 /PRNewswire/ - Calico
Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) (the "Company" or
"Calico") is pleased to report that the Oregon Department of
Geology and Mineral Industries (DOGAMI) has accepted Calico's
Notice of Intent (NOI) and Memorandum of Understanding (MoU) for
the Grassy Mountain Project. "This is an all-important first
phase of the mine permitting process that will run in parallel with
the environmental data collection and our continued
exploration/development of the Grassy Mountain Project. As
part of this phase, DOGAMI and the Company will prepare a
permitting process timeline." said Bill
Wagener President & CEO. The Company is extremely
pleased with the active response and cooperation it has received
from all the governing agencies regarding the Grassy Mountain
Project.
The NOI serves as official notification to the
State of Oregon that Calico plans
to construct an underground mine and surface mill complex to
develop the Grassy Mountain gold resource located in Malheur County, Oregon. The NOI is
submitted as a first-step in the "pre-application phase".
During the pre-application phase, the Company, DOGAMI (as the
facilitating agency) along with other key State agencies, determine
the environmental and other studies required to be completed prior
to the submission of a completed application.
The MoU is an agreement between the State and
Calico whereby the additional costs incurred by the State agencies
associated with the pre-application phase are reimbursed by the
Company.
On behalf of the Board,
William S. Wagener
President and CEO
"Neither 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."
SOURCE Calico Resources Corporation