Las Vegas, Nevada, July 21, 2016 (Newswire.com) - Gold and Silver Mining of Nevada, Inc. ("CJTF") ("the Company"), (PINK SHEETS:CJTF) a junior mining company in Nevada, has larger sample array and assay results that provide proof of gold at the Goldfield Basin project.
The second set of data prepared by mine operator is 24 samples at near surface depths A and B which show an average of 0.356 ounces of gold per ton of ore. Twelve of the A depth samples averaged a higher number of 0.623 ounces per ton. Confirms Gold in another 160 acres for a total of 240 acres with confirmed gold content at Goldfield Basin.
In addition the excellent confirmation of assays in our previous press release the additional sampling expanded the acreage where gold is confirmed to include another 160 acres north of the 80 acres where gold is confirmed in our previous announcement.
N. Fred Anderson, Company President stated: "This larger production of assay results brings a confirmation of a total of 240 acres with confirmed similar gold content that we have previously estimated and reported. It also triples the acreage we can continue mining and processing over many years to come and provides incentive for us to make plans to expand our current production operations."
We fully expect as we continue to sample and analyze our 840 acres that we will continue to confirm gold in our other 600 acres at Goldfield Basin as well while we continue to press forward with production in the areas we have already confirmed gold content.
The results of the assays confirm that the gold content is consistent and similar to the results already referenced in previous press releases about historical assay data from the adjoining mining claims.
All of the assay work conducted in this recent time frame confirm that there is significant gold content in samples that have been screened to ¼” minus and then assayed.
Gold and Silver Mining of Nevada, Inc. Company CEO/President interviewed on National Radio for a second time.
Uptick Newswire interviewed company President N. Fred Anderson at 10:00 a.m. mountain time on July 14, 2016. To hear the broadcast go to upticknewswire.com and look up Uptick Network – Interview with CEO Fred Anderson with Gold and Silver Mining of Nevada, Inc.
In preparation the following questions and answers were prepared:
1. You mentioned last time that you were permitted and bonded to conduct exploratory mining operations, how is that going?
Answer: We started our Exploratory Mining Operations by hauling ore off site to a mill. To be specific we hauled 47 large bulk samples from 16 different sites inside our bonded and permitted area consisting of 80 acres of mining claims. This first phase of hauling raw ore without screening and concentrating confirmed our original design was right that we need to concentrate and produce finished concentrate in the field.
2. Does the in-field concentration require different equipment?
Answer: Some of the equipment is the same because we are only removing material near the surface. We are working with our engineers and equipment suppliers to put the right kind of concentration equipment in the field that can concentrate our alluvial fine free gold. The equipment we are looking to bring on site has a lead time and that is why we hauled to the mill while we are waiting on the delivery of equipment. With the right concentration equipment, we can concentrate 10 or 20 to 1 and the concentrate will provide us with an excellent product ready to be processed as a concentrate or melted into Dore bars to be processed at a finish refinery that puts out 99.999% pure gold and silver.
3. Do you have a lot of overhead associated with this production operation?
Answer: No, as in all of our work to date, we contract out our work to geologists, engineers and contract production operators and this enables us to keep the costs under control and in line with our budgets.
Because we are not dealing with overburden removal, blasting and chemical separation technologies, our costs are more easily defined and our plans take less time and overhead to implement. We keep our plans well defined and then execute the plan and the budget we have set up for that execution. In fact, we estimate that our all-in gold productions costs will be among the least cost in the industry around $400 to $450 an ounce of gold produced.
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 or Investor Relations please contact:
N. Fred Anderson, President of CJTF, firstname.lastname@example.org, 801-679-3945
Visit the company web site at www.GoldandSilverMining.com
Source: Gold and Silver Mining of Nevada, Inc.