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ABOT Mining Co. Acquires Mexican Gold and Silver property in Mexico
ABOT Mining Co. Acquires Mexican Gold and Silver property in Mexico.
About this update from Scoobeez Global Inc
[{"type":"text","content":"ABOT Mining (Pink Sheets:ABOT.pk) announced today that it has formulated an agreement with Rising Star S.A. de C.V., a Mexican Corporation, to acquire 50.00% equity interest in its Mexican mineral property (the \"Aztlan 8B Project\"). The Aztlan 8B Project is located in the State of Nayarit in the Tecuala Mining District on the west coast of Mexico. The claim covers 300 plus acres, and is within a few kilometers of the pueblo ' Paulo Blanco '. The Tecuala Mining District is considered a widely mineralized area and identified as a major deposit of gold and other minerals. The area around the Aztlan 8B has been extensively explored and is currently being mined by several known junior mining companies and geological institutions. According to Rising Star, past surface trench testing by others revealed deposits of placer and epithermal gold deposits, where overall bulk sample feed grade ranged from 0.20 gm/t to 39.00 gm/t. These tests were conducted across outcroppings of silicified volcanic breccias.Mexico has a rich mining history of almost 500 years which preceded the arrival of the Spaniards in 1500s. However, since 1995, mining exploration has become increasingly attractive for foreign investors due to the creation and amendment of the applicable legal framework including the North American Free Trade Agreement and implementation of mining laws and environmental regulations that are favorable to mining exploration, development and production.\"We look forward to partnering with Rising Star and initiating the preliminary phase of our trench testing program of the Aztlan 8B Project. We strongly believe that results from our preliminary phase shall provide an objective view on viability of these gold and silver deposits. Subsequent to these results, the Company shall utilize its financing capabilities and Rising Star's mining expertise to develop the Aztlan 8B Project and to further explore and acquire additional mineral properties,\" said Morris Rafi, President of ABOT Mining.About the CompanyABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Sherman Oaks, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious m...