BOZEMAN, Mont. — Montana environmental regulators have set a reclamation bond at just over $154,000 for gold exploration on private property north of Yellowstone National Park.
The Bozeman Daily Chronicle reports (http://bit.ly/2womKlC) Lucky Minerals Inc. argues the bond is too high while mine opponents feel it is too small.
The bond is set at what the state Department of Environmental Quality estimates it would cost to reclaim the area if Lucky Minerals failed to do the work.
Late last month, the Montana DEQ approved Lucky Minerals’ plans to drill 46 exploratory holes near Emigrant Peak. The DEQ calculated the bond on having to refill 12 holes because it plans to inspect the site periodically.
Lucky Minerals vice president Shaun Dykes says the company only plans to have two drill holes open at a time. Drilling could begin this fall.
Information from: Bozeman Daily Chronicle, http://www.bozemandailychronicle.com