PUBLIC COMMENT SOUGHT ON HOMESTEAD MINERALS CORP BOND RELEASE WITH THE BUREAU OF LAND MANAGEMENT

TONOPAH, Nev. – (RealEstateRama) — In accordance with 43 CFR 3809.590(c), the public is invited to comment on the pending final bond release of the Silver Peak Sixteen-to-One (16 to 1) Project, case file NVN073158, by the Bureau of Land Management (BLM) Tonopah Field Office. A Plan of Operations (Operations) for exploration was initially submitted to the BLM by Sunshine Mining Company (Sunshine) in 1981 and was later modified and approved by the BLM in 1981. All of the mine and a portion of the mill facilities are located on federal lands, administered by the BLM.

Sunshine acquired the 16 to 1 mine in 1973 and milling operations started in February of 1982. In 1989, Sunshine agreed to lease the Operations to Zephyr Resources, Inc. Homestead Mineral Corporation (Homestead) acquired and has held all interests in the Operations since 1990, including compliance with the provisions in 43 CFR 3809 during operations, closure, reclamation and abandonment of all the activities described in the Plan. Reclamation and closure activities were concurrent with mining from 1992 to 2014. During 1992 and 1993, reclamation was performed at the 16 to 1 mine, some exploration projects, and the portal was closed. A joint inspection by the BLM and Nevada Division of Environmental Protection in 2007, determined that earthwork reclamation of the mill site was complete, except for revegetation of the heap leach and waste dump sites and a portion of the bond was decreased in 2014, allowing for Art Wilson Company (formally known as Homestead) to seed the heap leach and waste dump sites. In December 2014, seeding was completed. In 2018, the BLM determined that the seeded area from 2014 is extremely dry and arid, with little to no water. The current bond in place for the mill site is inadequate for further seeding or reclamation efforts, thus the BLM determined that the Operations under 43 CFR 3809 may be closed and current financial guarantee residing with the BLM could be released.

A bond for $20,747 is currently in place with the BLM and is scheduled for full release. As part of the Federal Regulations for bond release, the public has 30 days to comment before the bond release procedures may begin. Unless provided substantive evidence that would cause us to reconsider, our office expects to initiate release of the financial guarantee on or after August 27, 2018. If you have questions or comments about this bond release, contact Timothy Coward, Tonopah Field Manager at 775-482-7800 or by email at .

The BLM manages more than 245 million acres of public land located primarily in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. The agency’s mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations. Diverse activities authorized on these lands generated $75 billion in sales of goods and services throughout the American economy in fiscal year 2016 – more than any other agency in the Department of the Interior. These activities supported more than 372,000 jobs.

Source: BLM