bodnarchuk/iStock via Getty Images
KORE Mining (OTCQB:KOREF) +66.7% in Tuesday's trading on the Toronto Stock Exchange after winning a favorable court ruling that would allow it to proceed with drilling at its Long Valley gold project in California.
The miner said the U.S. District Court for the Eastern District of California denied a motion to overturn authorization granted in October 2021 by the U.S. Forest Service of KORE's (OTCQB:KOREF) proposed drill program.
After limiting work at the Long Valley project pending the outcome of the court case, KORE (OTCQB:KOREF) said it now plans to proceed with exploration during the summer and fall 2023.
The company said it has identified opportunities to expand the shallow oxide mineralization in all directions from the site, which potentially could extend mine life, reduce capital intensity and generate higher project economic returns.