The Magic Numbers: $400/oz and $298 million Gold
Post# of 64
Posted On: 08/25/2015 9:44:56 AM
The Magic Numbers: $400/oz and $298 million
Gold production costs projected at highly favorable margin. Site visit en route
and 30 tons of samples lined up
(Las Vegas, Nevada, August 25th, 2015)
Gold and Silver Mining of Nevada, Inc. ("CJTF"
(PINK SHEETS:CJTFD) a junior mining
company in Nevada, are pleased to announce the arrival of several major milestones as they
continue to work diligently towards finishing up the fieldwork in preparation for their first
shipment.
The first 30 tons of samples at it’s Goldfield Basin property are almost ready to go.
With a projected cost of approximately $400 per ounce to produce, CJTFD have hit upon a
highly favorable margin: at the time of this writing, gold is listed at $1154.40 US per ounce
on the open market. Subtract a projected production cost of $400/oz and that leaves
roughly $750+ profit for every ounce of gold mined.
Furthermore, the samples are expected to confirm a gold content in the range of .25 to .35
oz. per ton. So for every ton of ore mined, expect a yield in the neighborhood of $345 worth
of gold.
As these figures move forward into a completed resource estimate, the following numbers
are projected to be confirmed by the 33 truckloads of samples (each weighing 30 tons)
which CJTFD is preparing for shipment. It is important to note that these are estimated by
the company as conservative, reachable targets.
An estimated 2,600,000 tons of ore are contained across a 20 acre area, which was
sampled and tested to a depth of 30 feet
A conservative recovery of 1/3 of the ore times $345/ton recovered = $298 million gross value per 20 acre claim area.
-MORE-
“Everything is set to start this fall with the first sample truck load of 30 tons,” says N. Fred
Anderson, President of CJTFD. “Then following that there's another 32 truckloads of samples
to be processed. The samples and confirmation of mine-able ore begin the steps to bring these claims into a full operation/production mode. “
Gold production costs projected at highly favorable margin. Site visit en route
and 30 tons of samples lined up
(Las Vegas, Nevada, August 25th, 2015)
Gold and Silver Mining of Nevada, Inc. ("CJTF"
(PINK SHEETS:CJTFD) a junior mining company in Nevada, are pleased to announce the arrival of several major milestones as they
continue to work diligently towards finishing up the fieldwork in preparation for their first
shipment.
The first 30 tons of samples at it’s Goldfield Basin property are almost ready to go.
With a projected cost of approximately $400 per ounce to produce, CJTFD have hit upon a
highly favorable margin: at the time of this writing, gold is listed at $1154.40 US per ounce
on the open market. Subtract a projected production cost of $400/oz and that leaves
roughly $750+ profit for every ounce of gold mined.
Furthermore, the samples are expected to confirm a gold content in the range of .25 to .35
oz. per ton. So for every ton of ore mined, expect a yield in the neighborhood of $345 worth
of gold.
As these figures move forward into a completed resource estimate, the following numbers
are projected to be confirmed by the 33 truckloads of samples (each weighing 30 tons)
which CJTFD is preparing for shipment. It is important to note that these are estimated by
the company as conservative, reachable targets.
An estimated 2,600,000 tons of ore are contained across a 20 acre area, which was
sampled and tested to a depth of 30 feet
A conservative recovery of 1/3 of the ore times $345/ton recovered = $298 million gross value per 20 acre claim area.
-MORE-
“Everything is set to start this fall with the first sample truck load of 30 tons,” says N. Fred
Anderson, President of CJTFD. “Then following that there's another 32 truckloads of samples
to be processed. The samples and confirmation of mine-able ore begin the steps to bring these claims into a full operation/production mode. “
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