PIPI News Premier Investment Properties Disclos

PIPI News

Premier Investment Properties Discloses Proposed Plan of Exploration and Development

2012-05-07 09:21 ET - News Release

New Jersey -- ?Premier Investment Properties Inc (OTHEROTC IPI) provides shareholders with initial details of Proposed Plan of Exploration and Development of the La Dama de Oro unpatented mining claims property.?THE PLAN?In order to meet the recommendations put forth by Professional Geologist Mr. Donald G. Strachan (http://www.geostrachan.com/), geologic mapping, grid geochemical sampling and geophysical surveys will be carried out. The LIDAR map upon which this work is to be completed has been flown and will be ready shortly. Further geological work will ensue. This work will provide the geological context for phase one of a four-phase “Drift and Drill” Exploration and Development Plan designed by the Technical Management Team at Mohave Gold Mining & Exploration, Inc (MGME). The plan is designed to create shareholder value by further delineating the quality, quantity and lateral extent of the existing vein deposit. ??Each phase will allow for results to be compared with previous recommendations; ?press releases based on technical conclusions; and ?decisions and recommendations made for the next sequential phase.??Phase One surface activity will drill approximately 5,000 feet from 5 different locations ?(core drill pads 1, 2, 2a, 3, and 4a. “See figure 4c under projects at MGMEXP.com&rdquo and will produce core-hole samples that will clarify vein continuity, ore grade, intercept thickness, and other vein intersection information.??Phase One underground activity will enlarge the existing adit and drift workings to a full 8‘X8’ opening and extend the known workings 100 feet to the east at the 4,180-foot level (“See figure 5 under projects at MGMEXP.com&rdquo . This underground portion will produce bulk samples of the ore from the existing stopes and from drifting Eastward on the vein, material that will be stockpiled for later transport to a custom mill for testing. This information is vital to determining accurate ore grade quality as it reduces accidental high-grading and low-balling known to occur with random chip sampling. Depending on the number of bulk samples taken, the results will approach what can be expected from actual mining.THE PERMIT PROCESSThe permitting process for this project started in August, 2009 with the filing of a Plan of Operations with the Bureau of Land Management (BLM). The BLM is concerned with the surface disturbances that will be created by executing the activities in the Plan of Operations. MGME has shown on it’s Plan of Operations map, 10 locations for core-drilling sites, delineated the routes to reach those sites, and has provided the BLM with information of the character and area of the surface disturbances to be expected by completing the required biological and archaeological surveys. The BLM and the U.S. Fish and Wildlife Service are equal partners in the permitting process. ??The following list shows the permit process milestones accomplished through December, 2011.Mohave Gold Mining and Exploration, Inc. has completed:- August 2009: Commencement and initial filing of "Plan of Operations" documents with the local field office of the United States Department of the Interior, Bureau of Land Management. - October 2009: 1 x 55-page report prepared by Circle Mountain Biological Consultants, Inc. Titled: "Focused Survey for Desert Tortoise and Western Burrowing Owl, Habitat evaluation for Mojave Ground Squirrel, and Formal Biological Assessment for a 160-acre Portion of the LaDama de Oro Mine, Burleson Claims, Sidewinder Mountain, San Bernardino County, Calif." - November 2009: A revised 1 x 26-page geological report by a Certified Professional Geologist, titled: "Economic Geology and Gold Potential, La Dama de Oro Property, Sidewinder Mountain, Silver Mountain Mining District, San Bernardino County, California." by Donald G. Strachan, Economic Geologist, MSc, CPG (originally contracted January 2004) . ? - September 2010: Consultation with Mr. Strachan to produce “Drift and Drill”, the 4-phase Exploration and Development Plan.? - October 2010: Preparation and submission of revised Plan of Operations to reflect the new Exploration and Development Plan, including a 1” = 400’ map showing the location of 8 drill pad sites, and the calculation of the areas of disturbances from existing desert tracks and roads to those sites.? - October 2010: Preparation and submission of a map and field photo-journal for the Application for Lake and Stream-bed Alteration to the California Department of Fish and Game, so that “Blue-line” stream crossings could be identified, and fees established for those crossings.? - January 2011: Permission granted to cross Blue Line Streams, valid for 5 years. - January 2011: 7 additional lode claims located and filed to bring the total to 35 unpatented mining claims.? - January 2011: Location and filing of first Mill site.? - April 2011: “A Class III Cultural Resources Study for the La Dama de Oro Project, San Bernardino County, California” prepared for Mohave Gold Mining & Exploration, Inc. by Brian F. Smith & Associates, Inc.? - April 2011: Location and filing of three additional Mill sites to bring the total to 4 Mill sites? - September 2011: BLM Barstow Staff field visit to the “La Dama de Oro” unpatented mining claims. Preparation of revised and focused elaboration of Phase 1 core-drilling Plan of Operations for BLM, based upon field visit and consultation with BLM staff, preparation of ?1” = 40’ site plan. - December 2011: Submitted updated and Revised Final Plan of Operations to BLM, moving the proposed location of the 4a drill Pad into the SW 1/4 of Section 10 (“See figure 4c under projects at MGMEXP.com and figure 2a in the Strachan Report&rdquo , and detailing specific Surface and Underground activities for Phase 1 of the Exploration and Development Plan. Premier Investment Properties and Mohave Gold Mining are completing the final requirements for the BLM permit process. More updates to follow.For additional information contact Investor Relations. Contact:Kenneth R. AshInvestor Relations910-300-8189KenAsh@StockCharterGroup.com About Premier Investment Properties Premier Investment Properties Inc explores, acquires and develops natural resource and real estate related assets of interest.For additional information, visit www.PremierInvestmentPropertiesInc.com This communication may contain statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects and similar matters. In some cases you can identify those so-called “forward-looking statements” by words such as “may,” “will,” “should,” “expects,” “plans,” “targets,” “believes,” “anticipates,” “estimates,” “predicts,” “potential,” or “continue” or the negative of those words and other comparable words. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, including whether the Company can identify market makers to make a market in the Company’s securities. The Company cannot provide assurance that such statements will prove to be correct. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.