GolfGear International, Inc. Signs Joint Venture Agreement with Mission Holdings, LLC to Place the Silver Cord Mine Into Production
Press Release: GolfGear International, Inc. – Thu, Sep 29, 2011 6:00 AM EDT
LAS VEGAS, NEVADA--(Marketwire -09/29/11)- GolfGear International, Inc. (PINK SHEETS: GEAR) announces that it has signed a Joint Venture Agreement with Mission Holdings, LLC that will place the Silver Cord Mine into production. The Silver Cord is a historically producing silver and gold mine located in Yavapai County, Arizona, with over 900 feet of developed tunnels following a prominent silver vein. Mission Holdings, LLC, owner of the Silver Cord Mine, has executed an exclusive Mining Production Agreement with Western Sierra Mining Corp. (PINK SHEETS: WSRA) to develop the mine and manage production. Processing of the silver and gold ores extracted from the Silver Cord Mine will be managed by GolfGear International under an exclusive Licensing Agreement recently executed with EnviroXtract, Inc. (PINK SHEETS: EVXA) for the Company's premiere Ore-XT3 precious metals ore processing technology.
Dale Geck, President of GolfGear International stated, "This change in business direction is a huge step for GolfGear International. With the world economy in a state of collapse, investors are moving to the safety of gold and silver. With gold prices recently reaching historical levels beyond $1,600 per ounce, and with many market analysts projecting gold prices to reach $2,000 per ounce by the end of 2011, GolfGear International firmly believes it has chosen wisely in establishing a presence in the gold and silver mining industry."
Under the proposed agreement, GolfGear International will provide Mission Holdings and Western Sierra the necessary funding to immediately begin initial mining operations, as well as additional funding necessary for expansion. Western Sierra Mining Corp. will provide its extensive mining expertise, labor, equipment, and production management of the mine.
GolfGear International has recently executed an exclusive licensing agreement with EnviroXtract, Inc., a premier developer of efficient environmental technologies. James Cheney, CEO of EnviroXtract commented, "EnviroXtract is excited to have been selected to bring its expertise in ore technology development to the table for GolfGear International. Management believes the utilization of our leading edge Ore-XT3 technology for processing precious metals from the Silver Cord Mine will be an invaluable asset to this joint venture. EnviroXtract technologies are anticipated to increase the efficiency and profitability of GolfGear's gold and silver processing operations.
About GolfGear International, Inc.:
GolfGear International, Inc. was originally incorporated in 1996 as a golf equipment company. The Company has recently altered its business strategy to include gold and silver mining, providing financing for gold and silver mining projects, and precious metals processing and refining.
About Western Sierra Mining Corp.:
Western Sierra Mining is an aggressive gold and silver exploration and mining company focused on the historic mining districts of the Bradshaw mountains of Arizona with additional areas of interest within Nevada and Mexico. Long-term company goals are to create maximum shareholder value by continuing to build a strong base of properties and advance these projects toward production.
