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GDSM News .0052 Gold Coast Mining Announces Pro

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Post# of 145170
Posted On: 05/17/2012 10:11:02 AM
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Posted By: lucyinthesky

GDSM News .0052



Gold Coast Mining Announces Progress and Updates On Mining Joint Venture




2012-05-17 10:00 ET - News Release



 




BOCA RATON, Fla., May 17, 2012 /PRNewswire/ -- Gold Coast Mining Corp. (Pink Sheets: GDSM), is pleased to announce today significant progress in its goal to develop its Skull Valley, Arizona claims along with its joint venture partner, Western Sierra Mining.


Since completing its previously announced milestones (initial surveying, staking and preparation for sampling), the joint venture has taken several steps forward in its plans to develop the Gold Crown and GS 1-4 properties. After the initial surveys, research and sampling programs Western Sierra has decided to narrow its focus for the larger sampling program to a specific area of 316.45 acres of the initial claims. It is the belief of both companies that this area is of higher significance regarding mineralization and therefore this is where resources should be concentrated to maximize results. Marking and flagging of additional sampling sites within this area has been completed with crews being scheduled to take samples for further processing.


Additionally, the joint venture announced that Western has received approval for the Mineral Exploration Permit which allows for further sampling and exploration of the claims.


Approval has also been received from the State of Arizona for our Plan of Operation and the joint venture has refilled the state leases for the year 2012-2013.


Marc Lovito, President of Gold Coast, stated, "This is exciting, significant progress towards the goal of developing our claims. Each of these steps brings us closer to moving into the production phase of our plans."


"Our plan and objective for the next portion of the development is to prepare and complete the larger sampling program so as to be able to focus our NOI with BLM and the expanded Mineral Exploration Permit with the State."




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