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-3- <br />regard to hydrologic impact assessment, topsoil balance, disturbance acreage, <br />overburden swell factor determination and revegetation techniques. On January <br />19, 1989 the Division forwarded to the operator the results of its review of <br />the adequacy of the reclamation bond, including a detailed reclamation cost <br />estimate. The Division's cost estimate exceeded the current bond amount by <br />$194,150.00. <br />On April 20, 1989, the operator submitted a request for a continuance of the <br />renewal review period beyond the 180 day time frame specified by the <br />regulations. The operator stated that the extension was necessary because of <br />limited fund availability resulting from the fact that PCI had been taken into <br />Chapter 11 Bankruptcy by their parent corporation, Oakridge Energy. The <br />Division granted the extension request on April 26, 1989 and Notice of the <br />extension was published in the Durango Herald. <br />The extension request was granted by the Division with the condition that a <br />timetable for resolution of issues raised during the review would be <br />established within a Letter of Agreement between PCI and the Division. <br />On June 2, 1989 the Division forwarded to the operator a Letter of Agreement <br />setting out a timetable for completion of various tasks and submittal of <br />certain information determined to be necessary based on the Division's review <br />of the renewal application. <br />In a letter dated September 15, 1989, PCI submitted a revised bond calculation <br />and an explanation of their financial status. Due to their financial <br />situation, PCI indicated that they were unable to agree to the conditions and <br />timeframes contained in the Letter of Agreement. <br />Description of the Environment <br />The operation is located in southwestern Colorado, approximately 2 1/2 miles <br />southeast of Durango. Elevation of the area ranges from approximately 6500 <br />feet to 7400 feet. <br />There are no documented cultural properties in the proposed permit area. <br />The Mine is located in the upper drainage basin of Carbon Junction Canyon. <br />This is an intermittent tributary to the Animas River. The total drainage <br />basin of Carbon Junction Canyon is 0.8 square miles. This drainage has a <br />steep gradient and, through much of its reach, is contained within steep <br />valley walls. <br />The Carbon Junction Mine permit area is located on the northern edge of the <br />San Juan Structural Basin in Southwestern Colorado. The sedimentary rock <br />strata dip 26 to 30 degrees to the southeast and strike N45°E. No major <br />faults exist in the permit and adjacent areas. <br />