Press Release
FOR IMMEDIATE RELEASE For more information contact
N. Fred Anderson, President of CJTF
fred@goldandsilvermining.com
801-679-3945
Goldfield Project Starts March 21, 2016
Permits all in order
(Las Vegas, Nevada, March 8, 2016)
Gold and Silver Mining of Nevada, Inc. ("CJTF") ("the Company"), (PINK SHEETS:CJTF) a junior mining company in Nevada, has now scheduled the official start of mining and processing as March 21, 2016.
The Goldfield Basin project will commence with “barrel” sampling and then truck load sampling and processing of the first 1,000 tons of ore to be hauled to an already approved and operating Nevada mill for processing. The state water pollution control permit just issued approves processing to expand to 36,000 tons per year. The mill capacity is approved and can operate up to its capacity of 150,000 tons per year.
Existing Permits and Bonds will be expanded as the project expands and the Goldfield Project will eventually be permitted at the full 150,000 tons per year capacity of the already permitted mill.
The grade of ore is expected to be 0.25 ounces of gold per ton or better from processed ore and higher grades are projected as we go deeper down to 30 feet below the surface.
The big picture projects to have many years of 150,000 tons of ore per year or larger if a new mill is designed on site. Costs are lower than most other Nevada operations as this is a placer extraction of near surface ore which could result in half the normal mining and processing costs.
The project starts with the currently permitted 80 acre block of claims and can be expanded to include the rest of the 840 claims currently owned by the company and joint owner.
The project is projected to utilize a good 6 to 1 concentrate program and just the initial 80 acres is projected to contain over 1.8 million tons of concentrate or a 12 year supply at the capacity of the mill the concentrate is being hauled to. Since this 80 acres represents only 10% of the holdings in the area, we will obviously want to expand to a much larger on site facility at some time in the future. The project as is projects out well over 50 years into the future.
Full Capacity of Mill Projected to Create $45 Million Gross Revenue
Assuming a rate of .25 ounces per ton of gold at $1,200 per ton and 150,000 tons per year, the initial gross revenue at capacity is $45,000,000 before costs for all of the owners. A very good project and one we are happy to be moving into production on.
About Gold & Silver Mining of Nevada, Inc.:
The company is in the business of precious metals mining and processing of massive gold and silver ore bodies in Nevada. The gold and silver located in the company owned mining claims in these districts are located adjacent to other known and established mining operators. The company is not looking for ore, but is in the process of developing previously identified ore bodies.
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
Investor Relations at 801-679-3945
Visit the company web site at www.GoldandSilverMining.com