Monday, September 16, 2013

Inception Mining, Inc. (IMII) to Acquire 16k Acres of Prime Territory in Nevada’s Getchell Trend Adjacent to Barrick/Newmont’s Turquoise Ridge

Inception Mining, which was formerly known as Gold American Mining Corp., prior to acquisition of the 40-acre U.P. and Burlington Gold Mine in Lemhi County, Idaho (as well as the associated mineral rights) earlier this year, was pleased to announce entry today into an agreement in principle with Crawford Cattle Company to acquire some 16k acres of mineral rights in Nevada’s Humboldt and Elko Counties.

CEO of IMII, Michael Ahlin, spoke very highly of the site, which rests just 70 miles north of Winnemucca in, or adjacent to, the Carlin-type Getchell Trend deposit. The target lands within the contract area are seen by IMII as being highly prospective due to their choice location in the trend and certain sections of land being adjacent to the Turquoise Ridge Property (Barrick/Newmont), as well as the Pinson Mine (Atna Resources), which is more in the south-central part of the Getchell Gold Belt, just southwest of Barrick’s Getchell/Turquoise Ridge operations. Some of the contract land even runs up along the historic Midas Gold Property and while IMII is still early on in the resource evaluation phase here, management is confident that development efforts will have plenty of ground to find traction on.

In fitting with the company’s acquisition and development model, primary focus will be on delineating specific historical mining claims to roadmap development activity, claims which are validated by strict definitions of proven recoverable mineral grades, as well as a minimum of permitting complications, deed issues/protected claim status, and any potential access issues. Target vetting will also be mindful of the overall cost profile, as well as refining demands (or alternately toll processing) and IMII’s strategy will be to get the most bang for their shareholder’s buck in the Getchell.

Shrewdly maintaining tight CAPEX controls and cash burn rate will be top priorities for IMII when they go into development and while certain aspects of this deal are somewhat of a departure from their baseline acquisition model, management is confident that the overall value of the acreage and multiplicity of targets makes it all worthwhile. This is a huge opportunity and so management is aggressively evaluating the site potential now for possible addition to their portfolio.

About QualityStocks

QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.

Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net

The Quality Stocks Daily Blog http://blog.qualitystocks.net

The Quality Stocks Daily Videos http://videocharts.qualitystocks.net

 The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net

Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net

No comments: