LAS VEGAS, Dec. 12, 2012 /PRNewswire/ -- Texas Wyoming Drilling Inc., (OTC: TWDL) a US-based exploration mining company is encouraged at its prospects for capitalizing its precious metal find as recently reported.
The spot price of Platinum and Gold as of 12/11/2012 was listed as 1631oz /1710oz respectively. Based on the fire assay report for the Blue Jacket Mine; dated December 2011, prepared by CSAL Inc. of Prescott AZ, Id # 1211-138278, substantial deposits of both Platinum 2.602 and Gold 0.0121 were discovered. The total amount has yet to be realized. This discovery positions the Blue Jacket Mine as having the potential to be one of only two significant Platinum Mines in the US, as reported in the Mining Weekly.
"Texas Wyoming Drilling's (TWDL's) unexpected platinum deposits discovery at its Blue Jacket gold mine in Nevada in the US, could make it only the second miner in the US to produce viable amounts of platinum-group metals (PGMs)."
While fire assay is labor intensive and time consuming, TWDL recognized this to be the best technique available to assure the most exacting results. Fire assay derives its name from the fact that the sample being analyzed is placed into a crucible, well mixed with various chemicals, and placed into an 1800-degree furnace.
In other news, TWDL is on track to reach its objective of up listing the company to the OTCQB. The goal has been set to apply for this designation by the first quarter of 2013, and the company fully expects to meet this time frame.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Texas Wyoming Drilling, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
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SOURCE Texas Wyoming Drilling Inc.