STEUBENVILLE, OH--(NewMediaWire - Nov 2, 2015) - Osceola
Gold Inc. (OTC
PINK: PYHH) is pleased to announce that the Company has
entered into a business consulting agreement with Geo Scan Inc. to
analyze the entirety of the mining claims owned by the company in
the Osceola Mining District near Ely, Nevada. As recently
announced, Osceola Gold paid its reclamation bond to the Nevada
Bureau of Land Management (http://www.blm.gov/nv/st/en.html) in the amount
of $476,800. In addition the Mav G lease through Pizz Inc., which
has been funded in the amount of $50,000.
"This is another important step forward for Osceola Gold,"
stated Christopher Tarquinio, Chief Executive Officer, Osceola
Gold, Inc. "We anticipate the delivery of our custom-made state of
the art mining equipment in the near future. Everything is now
rapidly being put in place for the commencement of our mining
operations."
Preliminary testing of locations adjacent to the company's
claims have shown the locations for alluvial migrations along the
magnetic flow indicators, subsequent testing with trenching and
drill cores have resulted in locating averages of 8 grams of gold
per cubic yard (approximately 290 to 300 dollars per cubic yard at
today's gold price) in the mine gravels.
Testing is done using proprietary Quantum Geo Analysis, a
pre-curser to ground penetrating radar studies and satellite deep
scanning and imaging, as well as targeted, on site, analytical work
to determine the positioning and depths of the gold and silver
concentrations in the gravels. The algorithms used will be able to
provide quantitative value estimates, location and depth
parameters.
This will assist in providing a strategic mining excavation plan
for the entirety of the economic mineable gravels as well as the
more concentrated target zones of high target metal concentrations.
This will allow for a very efficient and profitable short, medium,
and long term planning of the mining operation.
Quantitative testing of the claims is scheduled to begin
November 9, 2015: CEO, Christopher Tarquinio concludes; "based on
the adjacent parcels, we have very high expectations for migrations
of the alluvial flow moving directly across key areas of the claim
site." Osceola Gold Inc. has also obtained first right of refusal
for production on the other Mav claims.
As previously announced, the Company has now emerged as a gold
mining operation focused in the famous Osceola Mining District of
White Pine County, Nevada. Osceola Gold Inc. has retained all
mineral rights for all precious metals, including gold deposits, on
their leased land, an over 20 acre expanse of gold mining claims
known as Mav G.
Geological reports prepared by Skookum Geological have indicated
the value of Mav G at $300-500 million. Historical reports have an
average value to a FALSE bedrock at $132.00 per cubic yard. All
permits and bonds have been put into place for the mobilization of
this project.
Mining in the Osceola District, White Pine County, Nevada, was
launched in the 1870s and continues to this day. Major efforts were
put forth in the late 1800s, 1930s and 1970s, with both lode and
placer mining striking success with the removal of considerable
amounts of gold. Studies conducted throughout these periods
indicate economically viable amounts of gold in both the bedrock
and in particular, the placer deposits that remain. For more
information visit: http://www.nbmg.unr.edu/
The Company has applied for a corporate name and symbol
change.
As FINRA concludes due process yielding a final approval, the
new name and symbol are expected to go immediately into effect.
Safe Harbor Act: Forward-Looking Statements are included within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding our expected future financial position,
results of operations, cash flows, financing plans, business
strategy, products and services, competitive positions, growth
opportunities, plans and objectives of management for future
operations, including words such as "anticipate," "if," "believe,"
"plan," "estimate," "expect," "intend," "may," "could," "should,"
"will," and other similar expressions are forward-looking
statements and involve risks, uncertainties and contingencies, many
of which are beyond our control, which may cause actual results,
performance, or achievements to differ materially from anticipated
results, performance, or achievements. We are under no obligation
to (and expressly disclaim any such obligation to) update or alter
our forward-looking statements, whether as a result of new
information, future events or otherwise.
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