CAMBRIDGE, Mass., Sept. 14, 2011 /PRNewswire/ -- Markray Corp (RVBR.PK, the "Company") announces that, following the increased yield of gold per ton achieved this summer, it is moving forward with an audit of its gold reserves according to the National Instrument 43-101 Standard. The Company will announce within the month the name of an independent Canadian geologist who will conduct the assessment and write the report. The objective of the report is to refine the estimated amount of gold, silver, platinum and iron on the site. This report as completed according to National Instrument 43-101 shall conform to and filed following SEC requirements.
''This report shall confirm the previous findings done by the renown geological expertise firm of The Central Research institute of Geological Prospecting for Base and Precious Metals. Furthermore, we will chose a Canadian geologist because of the fine reputation of Canadian geologists and gold mining ventures,'' stated Normand Terroux, vice president. He added, ''The Company has the goal of entering into a more international sphere of operations and will chose its geologists accordingly.''
Assessments of samples performed by The Central Research institute of Geological Prospecting for Base and Precious Metals in October 2007 show a high exploitability of the site in terms of precious metals such as gold, platinum and silver as well as iron content. At the same time a full spectral analysis of samples was performed confirming a high content of useful components. This report was made for a previous owner of the license to process gold on this site but which license was cancelled because the previous operator concentrated on its other mining activities and did not complete the agreed upon work on the site. Markray JVSC was offered the opportunity to obtain the license and it immediately set up the infrastructure as required contractually.
The Company also announces that it is in the process of expanding the membership to its Board of Directors and finalizing strategic planning to rapidly move the Company forward and expand its base of operations.
SOURCE Markray Corp