ABOT Mining provides production costs estimate for producing gold at Aztlan 8B in the Tecuala Mining District in Nayarit, Mexico
SHERMAN OAKS, Calif., June 12, 2012 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to provide preliminary assessment on its estimated production costs for producing gold at Aztlan 8 B Property in the province of Nayarit, Mexico, which is located in the highly mineralized area known as the Tecuala Mining District.
Company's operating partner has estimated production cost, at site level, per unit of production output to be up to $88.00 per ton including but not limited to cost associated with mining, transportation, milling & floatation and site administration. This cost does not include royalties, non-cash costs, corporate expenses, value addition of by-products, etc.
As previously stated, past surface trench testing by others on Aztlan 8B has revealed deposits of placer and epithermal gold deposits, where overall bulk sample feed grade ranged from 0.20 g/ton to 39.00 g/ton. Consequently, the cost estimate suggests that gold can be mined economically at the current gold prices and with average feed grade of 2 g/ton of Au and above.
About the Company
ABOT 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 metals discoveries and developing mining properties with long-life and low cost operation.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Imran Firoz, President
ABOT Mining Co.
13920 Moorpark Street, Suite 201,
Sherman Oaks, CA 91423
T: +1 818.302.0100
SOURCE ABOT Mining