Gold Mining USA Completes Due Diligence Process on its Riverstone Resources Mining Tenement in Eidsvold
"Gold Mining USA is very excited about our Riverstone Resource project's tremendous potential. While there has been a long history of small-scale mining and exploration on its property and surrounding areas, we believe previous reports have not allowed the potential of the property to be fully understood," stated the Company's President, Maurice Byrne.
He continued, "We have accelerated the commencement of civil and engineering works for this project and have set finite construction timelines as well as received project scheduling and planning from our Geo/Engineering Team. In addition, vendors' lawyers have been instructed to prepare contracts and tenders have been called to commence production."
According to the Company's Chief Civil Engineer Gavin Brown, an extensive evaluation of the 24-acre mining tenement has revealed much information, including the following:
- Gold was extracted from the old workings by former mining operations in limited amounts and in variable grades up to 5 ounces per tonne.
- The average depth of resources estimated from extensive drilling is between 15m to 20m and there should be no hard rock mining or underground mining involved in the project.
- The project site is a tertiary glacial till deposit and the recoverable grade is contained within paleo channels of alluvial sand, gravel and conglomerate associated with gravel beds of old alluvium and alluvial deposits.
- Access to the mining site is easy and allows for heavy moving vehicles because the project area's topography is relatively benign and flat with slightly undulating hills.
- There is no vegetation, environmental, heritage, historical, aboriginal or cultural impediments to treatment operations at the mine site.
Management of Gold Mining USA asserts the completion of every area of due diligence in preparation to commence mining on the Riverstone Resource Project. These areas include the issuance of all necessary approvals and permits such as extraction rights, exploration and mining permits and mineral treatment extraction rights from environmental authorities, landowners and the local government.
The Company has also begun establishing business operations, work and rehabilitation plans, bonds, roads, power and water to the mine. Additionally, all regulations stipulated by Queensland Department of Resources and Mines have been brought up to date and all of Gold Mining USA's current designs and work plans will conform to Queensland's mining and environmental standards.
"Gold Mining USA would like to inform its shareholders that we are avidly exploring new technologies that can be used to recover higher levels of gold, silver and platinum than were previously thought possible in this area. We have also been speaking with surrounding landowners and adjourning tenement holders, via a ASX-listed public company, that have agreed to review our proposals to expand the Company's operations on their mining tenements. Management expects to announce updates on these discussions in the near future as they progress," concluded the Company's President.
About Gold Mining USA
Gold Mining USA, Inc. is an emerging mineral resources company focused on developing metallurgical and mining projects. The Company's business model is to acquire projects with the potential to provide significant resources through exploratory drilling and generate value through their development, joint venture or divestment. For more information, please visit www.gmuiinc.com.
Forward Looking Statements
This news release contains forward-looking statements made by Gold Mining USA, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the to future events. It is always best to seek advice from a licensed financial advisor before making any investment.
Contact:
Gold Mining USA Inc.
info@gmuiinc.com
209-386-7753