P2 Gold Secures Water Rights for Its Gabbs Project, Nevada
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P2 Gold has entered into a letter agreement with a private vendor to acquire water rights in the Gabbs Basin of Nevada.
The anticipated time frame for Nevada Division of Water Resources approval of the transfer of the water rights to P2 is six to twelve months, coinciding with the projected completion of the Gabbs feasibility study at the end of the fourth quarter.
“With water rights secured for the Gabbs Project we have achieved a major de-risking milestone,” said Joe Ovsenek, president and CEO of P2.
“We will now turn our attention to other long-lead items required for production at Gabbs. Approval of the transfer of the water rights is expected by year end, which fits well with the expected completion of the Gabbs feasibility study in the fourth quarter of this year,” added Ovsenek.
P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada, where work to support a feasibility study is underway. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. All zones on the property remain open and an infill and expansion drill program is underway.
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