Gold Ore Claims Selected by Gold and Silver Mining of Nevada, Inc. for Mining From Goldfield Basin
Gold and Silver Mining of Nevada, Inc. ("CJTF") ("the Company"), (PINK SHEETS:CJTF) a junior mining company in Nevada, has conducted a review of its first gold mining claims selected for mining and processing and updated its projections based on information discussed in earlier news items to estimate the following:
Las Vegas, Nevada, April 26, 2016 (Newswire.com) - Gold and Silver Mining of Nevada, Inc. ("CJTF") ("the Company"), (PINK SHEETS:CJTF) a junior mining company in Nevada, has conducted a review of its first gold mining claims selected for mining and processing and updated its projections based on information discussed in earlier news items to estimate the following:
The first 80 acres in the loop for processing after the 1,000 bulk sample is completed at a 15 foot depth has approximately 5,227,200 tons of minable placer ore of which we expect to screen in the field and haul only the best 1/3 or approximately 1,750,000 tons of ore.
We have referred to public data from 640 acres of claims adjacent to our 80 acres which show an average of 0.29 ounces per ton of gold from their 3 sets of data collected and assayed at over 5 labs. These results are useful for projections while our own results are being tabulated. We are hopeful and expect that our data will be similar to the data from the adjoining claims.
If we use the 1,750,000 net processable tons x 0.29 ounces per ton of gold, we show an estimated gross value of a very acceptable number of ounces of gold and at today’s price a very nice gross market value before the estimated lower production and processing costs (as this ore is near surface placer material) are deducted.
With the first 80 acres completed, it is expected that the next 80 acres times 2 which north and east of these claims will be commenced, so a total estimated net usable tonnage could run as high as 5,250,000 tons of screened material x 0.29 ounces of gold per ton, (again, estimating the same as the adjoining claims) is estimated to produce a large gold revenue before costs at the mill and smelter.
We view the price of $1,250 an ounce for gold today and acknowledge that prices can change at any time. Net tonnage and minable ore over the 240 acres at 5,520,000 tons using a best 1/3 best ore recover and processed rule from screened placer material is fairly constant through all of our estimates. And the tonnage doesn’t go up and down like prices, the tonnage is still there when we get to it.
Company President N. Fred Anderson states that he expects to see the progression over time for the mining operation to include all of the 240 acres discussed in this press release and located in this particular portion of the 840 acres currently owned.
Simple math can give a nice estimate of years of production at the 240 acres and even more years when the rest of the 840 acres is analyzed. We have found gold here and had it viewed by experts. (A processing operation and lab in Arizona and a Mint.)
The data here is estimated and backed by actions still going on and supported by data we have from signed professionals who analyzed the ore in the adjoining claims.
About Gold & Silver Mining of Nevada, Inc.:
The company is in the business of precious metals mining and processing of massive gold and silver ore bodies in Nevada. The gold and silver located in the company owned mining claims in these districts are located adjacent to other known and established mining operators. The company is not looking for ore, but is in the process of developing previously identified ore bodies.
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
Investor Relations at 801-679-3945
Visit the company web site at www.GoldandSilverMining.com
Source: Gold and Silver Mining of Nevada, Inc.