Pana Mining Holding Group Acquires Leases for Unmined Placer Gold Site
Pana Mining Holding Group secures rights to 80-acres of mineral leases with significant proven gold reserves.
Panama, March 20, 2016 (Newswire.com) - Pana Mining Holding Group Corporation has confirmed that it has acquired the rights to 80-acres of mineral leases in Arizona from Rogers & Co.
Several geological surveys have confirmed the presence of placer gold deposits worth over $10bn on the site. Pana Mining Holding Group’s acquisition of these leases is notable because, despite the apparent abundance of gold deposits, no heavy mining operations have ever taken place.
A lack of water and a state-imposed ban on the use of several toxic chemicals typically associated with traditional gold production has hampered efforts by various mining concerns to break ground in the area bound by the leases.
“The state’s ban on the use of harmful chemicals that could potentially leech into what little groundwater there is would ordinarily be a major deal-breaker but our Green Gold processing system doesn’t make use of agents like cyanide. This means that we will secure permission to begin deep excavation,” says Devansh Garg, Chief Executive Officer at Pana Mining Holding Group.
In recent years, some mining operators, in their zeal to generate profit, have come in for heavy criticism for their indiscriminate and inconsiderate use of dangerous chemicals that have, on a number of occasions, contaminated groundwater and found their way into local water supplies used by communities and livestock with predictably disastrous consequences.
“Pana Mining Holding Group is close to finalizing the construction of a fully-operational continuous flow system that will be able to purify and re-use water used in the processing of the ore. We’re expecting to be able to roll it out for real world testing at one of our operational properties before deploying it here where it can make a real difference to the mine’s operation,” says Mr. Garg.