General Metals Corp. (GNMT) Hires Merritt Construction to Cleanup Old Independence Gold and Silver Mine Site in the Battle Mountain; Moves Closer to Mining Operations
General Metals, an aggressive junior minerals exploration and development company that is based in Reno, Nevada, recently announced that it has hired Merritt Construction to remove existing mill site buildings, machinery, equipment, parts and debris on the Independence Mine Project in the Battle Mountain Gold and Silver Mining District. General Metals is currently developing a plan for open pit mining of the near surface gold and silver resources.
The contractor has already begun removing the old debris last used to recover gold and silver in the 1980s. The objective is to make the site compliant with 43 CFR 3809 so General Metals can begin mining utilizing an open pit mine and leaching operations which will maximize the Project’s mineable tonnage.
“Our plan all along has been to remove these structures first so we can begin mining,” stated Daniel J. Forbush, President and Director of General Metals Corporation in a press release on Thursday.. “The old buildings sit on top of the mineralized zone included in the resource calculations reported in our press release dated September 8, 2011. The Measured and Indicated gold resource in the shallow mineralized zone increased by 7.5% from the October 2009 calculations to 223,200 ounces in 16.1 million tons. The silver resource totals 3,784,400 ounces. At the London PM fix on October 12, 2011 of $1,682.00 per ounce for gold and $32.89 per ounce for silver, a deposit containing 297,000 ounces of gold equivalents would have a gross in situ value of approximately $500 million.”
Details on the mineralization and drilling efforts can be found at www.generalmetalscorporation.com
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