LIMA, Peru, Jan. 17, 2013 /PRNewswire/ -- Nilam Resources Inc. ("Nilam" or the "Company") (NILA-OTCQB) announces today their 2013 Corporate update that includes their Llipa & El Varon Properties in Peru that are in close proximity to other Billion Dollar projects.
The 2013 initiatives of the company are as follows;
- El Varon Next phase plan
- Llipa Next Phase plan
- Addition of experienced management
- Financing of the company short and long term
- The acquisition of other properties
El Varon will be the first property to yield results from the geological team, the expectations (weather permitting) are expected within the first quarter and the team has already visited the site and plans to begin their work shortly.
Overview: The El Varon project consists of "Tati" and "San Marino No.2" mining concessions which are located in close proximity to the great Morococho and Toromocho mines near Lima. Previous laboratory analysis shows rich poly-metallic mineral deposits rich in Gold, Silver, Copper, and Zinc metals with production estimates that are expected to grow up to 6,000 tonnes/month of production.
Llipa will be the second property to yield results from the geological team, as the process may take longer than El Varon as it is located much further from Llipa and weather can present a much greater challenge.
Overview: The LLIPA project has two major mining concessions in Central Peru located in between the great Antamina and Cerro de Pasco mines and shows a strong potential for becoming a major poly-metallic open pit mine. The mine was previously in production and had already produced 1 million tons of tailings containing copper, gold, silver, and zinc which currently remain on the property.
Upon receiving the results for the geological team, the company intends to commission a N43-101 report on each property, said report will be conducted by a qualified person based on the N43-101 instrument.
Management and infrastructure is vital to any company, this year Nilam will be adding management depth to the company, the plan is to add a geologist, CFO, mining manager, and other dedicated experienced professionals that share the Nilam vision.
The company has been offered numerous financing options, they vary in size and depth but all have been very attractive. The short term needs must first be met, and with the addition of management, a long term package must be negotiated for the best interests of the company.
Nilam currently has two great opportunities, but is always looking for more properties, joint ventures and partners within the industry. In 2013, the company believes many of these opportunities may come to fruition. The company will update the public via news release and its website.
For more information, please visit www.southamericanmining.com
Shahin Tabatabaei, President and CEO for Nilam Resources Inc. added, "Our 2013 initiatives are aggressive in nature but I believe they can be achieved. I am personally looking forward to and I am up for the challenges this year and beyond."
About Nilam Resources Inc.
Nilam Resources Inc. is focused on the exploration and production of precious and base metals on their current Llipa and El Varon properties in Peru. The Nilam Resources Inc team will research, review and prove any reserves for the purpose of production as part of its growth plan. The company also plans to recognize, and acquire near-term production mining properties as part of its further growth strategy.
Symbol: OTCQB – NILA
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
SOURCE Nilam Resources Inc.