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AIVN SIGNS LOI TO ACQUIRE BLUR LEAD GOLD MINE IN CALIFORNIA
AIVN SIGNS LOI TO ACQUIRE BLUR LEAD GOLD MINE IN CALIFORNIA.
About this update from American International Ventures, Inc.
[{"type":"text","content":"AIVN SIGNS LOI TO ACQUIRE BLUE LEAD GOLD MINE IN CALIFORNIAWINNEMUCCA, Nevada--(OTCMarkets-07/25/2012)- American International Ventures, Inc. (AIVN - News) (AIVN.QB - News), executes a Letter of Intent (LOI) to purchase the Blue Lead Gold Mine LLC (BLGM), with owner/developer of the mine. The Blue Lead Gold Mine sits up in the Sierras just above Nevada City, CA, in the heart of the gold country. The property consists of 3 patented parcels totaling 74 acres. The site has been totally developed and the mining permits are approximately 60% complete. The LOI is subject to AIVN performing its due diligence which includes verifying the assets and any liabilities of BLGM. In 2009, Advanced Geologic Exploration, Inc. Charles P. Watson, Chief Geologist, provided BLGM with an evaluation report that estimated the Au dollar value at $240,000,000, with 4.5 million yards of gold ore and gravels insitu. Brandon Nash, CEO of AIVN believes the mine value to be considerably higher, with Au calculated at $1400 per ounce instead of $900 per ounce as stated in the 2009 report. Hence, using a current evaluation of $420,000,000, insitu, and a mine life of 10-12 years, after installing a PowerScreen and crusher that is capable of delivering 2500 tons per day to an onsite gold recovery plant, is our new plan for the Blue Lead Gold Mine.In addition, AVIN is investigating the possibility of acquiring two or three connecting parcels that cut into the current BLGM mining plan map and thus, if the parcels are acquired, it will increase the mines productivity another 25%, giving the mine a significant chance to be a premier gold mine in California, with over 6,000,000 yards of gold ores and gravels to recover and adding 3-5 years to the mine life estimated earlier.About American International Ventures, Inc.American International Ventures, Inc. (AIVN) focus is gold and silver exploration and ore extraction, operating in Nevada through Placer Gold Prospecting, Inc., its wholly owned subsidiary. The Company focuses on gold and base mineral resource properties that have historically produced gold and silver until 1942 when all gold production in the United States was halted due to World War II. AIVN currently owns 11 mines in Nevada.Cautionary Note Regarding Forward-Looking Statements and Information concerning mineral resources. This press release contains forwa...