WOW - Now another company is claiming the Azurite!
Post# of 390
WOW - Now another company is claiming the Azurite! What on earth is going on? The tangled web of companies connected to WSRA and GDSM just gets more
complicated every day! Looks like GDSM's claims to any future JV on the Azurite are bogus. Now we know why no update on the Azurite was ever posted on the GDSM
website!
The Azurite Mine is a developed hard rock gold mine located on private property near Prescott, Arizona. The Property consists of 6 patented mining claims containing 86 acres of fee simple land. It is a historical producer of predominantly “hi-grade” ores developed within a quartz filled vein. These ores contain significant values of gold, silver, and copper, but with minor values in lead and zinc. Since the discovery of the mineralized vein, it has been noted that undeveloped mineralization lying adjacent to the quartz vein has been ignored for nearly 150 years.
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The total potential mineral resource value is $197,451,000, plus potential value in blocks with insufficient data for determining estimated tenor. These two additional blocks contain approximately 5.31 million tons that might host an in-ground value of approximately $460 per ton, equating to a total in-ground potential resource value of $2.44 billion , in addition to the more assured $197,451,000 as calculated above.
For purposes of considering mine development the proven/probable in-ground gross value of $121.37 million, plus the expected availability of the Mineral Resource in the amount of $197 million , should be the only basis for considering or justifying near-term mine development.
http://www.missionmining.com/ aka EVXA - formerly in a JV with GEAR and WSRA to develop the Silver Cord mine!