Procurement News Notice |
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| PNN | 7363 |
| Work Detail | Osceola is pleased to announce that the Company has received the remainder of its heavy equipment, completed operation set-up, and will commence mining operations in the Osceola Mining District this week. "It has not come without significant tenacity and perseverance, but we are extremely pleased to be finally initiating production. This has been a monumental milestone for our team. As we mobilize toward the next set of goals, we intend to keep our investors fully updated as we begin to generate results. This is only the beginning. We have great expectations for the coming quarter," stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold Inc. Upon initiation of processing, drilling begins under the guidance of Distinguished Geologist, David Bending. The Mine's primary goal is to complete 6 to 8 core drill holes for the compiling of data required to file a National Instrument 43-101 ("NI 43-101") resource report and to Certify Mav G Values. Osceola Gold has successfully completed its advanced satellite subsurface GeoScan evaluation. The GeoScan evaluation yielded results that revealed gold saturation in both target areas tested. Based on data derived through satellite deep scanning of the areas tested on the Mav G property, the first hotspot revealed an average of 5 - 8 grams per ton was discovered in terrain from 0 to 78 feet deep. The second hot spot which runs from surface to 13 feet deep on an average, revealed 15 grams or higher and two pay streaks underneath averaging 4 to 8 grams per ton. Mining in the Osceola District, White Pine County Nevada, was launched in the 1870's and continues to this day. Major efforts were put forth in the late 1800's, 1930's and 1970's 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. |
| Country | United States , Northern America |
| Industry | Mining |
| Entry Date | 15 Oct 2016 |
| Source | http://www.marketwired.com/press-release/osceola-gold-announces-official-launch-mav-g-mining-operations-osceola-mining-district-otc-pink-pyhh-2155731.htm |
