Colorado-based Calico Resources plans to excavate $2 billion worth of gold outside of Vale in Eastern Oregon.
“I kind of scratch my head from time to time,” [Arden “Buck” Morrow] said, “because when you go out there you don’t see anything that just jumps out at you that says, ‘Oh, this may have gold in it.’"
But more than 20 years of prospecting and $30 million-plus of research by multiple companies says otherwise, and Morrow, the president and CEO of Colorado-based Calico Resources, is planning to extract it. This month, Calico became the first company in Oregon in 17 years to receive approval to move forward with permitting of its mining operation.
Permitting will take a couple of years yet, but construction of the mine and processing facility eventually will pump between $50 million and $100 million into the local economy.
Read more at The Daily Journal of Commerce.