Pebble Creek Mining Ltd. Obtains Environmental Clearance and Stage One Forest Clearance at Askot Project, India 6/11/2009 1:02 PM - Canada NewsWire
VANCOUVER and NEW DELHI, India, Jun 11, 2009 (Canada NewsWire via COMTEX News Network) -- TSX-V: PEB
Pebble Creek Mining Ltd. (the "Company" or "Pebble Creek") is pleased to announce that it has received final Environmental Clearance from the Indian Ministry of Environment and Forests for commercial production on its Askot project.
The Company also announces that the Askot project has received Stage I Forest Clearance after a hearing by the state of Uttarakhand's Forest Department. The Company can now proceed to file an application for Stage II Forest Clearance, the last permit before final grant and execution of a 30-year Mining Lease.
The Company will work to the highest standards to preserve the natural beauty of the Askot area, located in the scenic forested foothills of the Himalayas. Criteria for final clearance include adequate compensation for the trees removed from the mine site, an approved plan to reforest nearby areas and a program to protect local wildlife. The Company has been drafting such plans for many months with the advice of Forest Department field officers.
The Company is also engaged in discussions with an Asian copper company regarding financing for additional drilling and a feasibility study of the Askot project.
About Pebble Creek. The Company is concentrating on developing the high-grade Askot copper, zinc and lead deposit, with some gold, silver and indium, in Uttarakhand State, India. Askot is projected to be an environmentally friendly underground mine. With a thorough knowledge of India after 14 years in country, the Company is well positioned to carry out this project and others in the acquisition pipeline.
IRL Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
