Jul 18 2016
Osceola is pleased to announce that the Company is scheduled to Launch Mining Operations in the Osceola Mining District.
"We are very delighted with the prospect of finally being able to embark on this highly anticipated launch. We are counting down and resolved to move forward expediently. Our plan of action to open and launch operations at the site is in full swing," stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold, Inc.
As the Company makes final preparations to initiate processing, key operating personnel are moved on-site, and the ground is prepared for drilling. The Company recently announced that under the direction of Veteran Geologist, David Bending, the mine will be drilling 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. Mr. Bending is a Professional Geologist certified by the Association of Professional Engineers and Geoscientists of the Province of British Columbia.
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 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.