PALAYAN RESOURCES, INC. ($PLYN)
Palayan Resources, Inc. is an emerging growth gold mining company that engages in the acquisition, exploration, and development of mineral properties. Management has extensive experience in global exploration and the mining industry. The Company is focused on operating, developing, exploring and acquiring high-quality projects worldwide. Headquartered in Windermere, FL, Palayan Resources is aiming to build a portfolio of low cost, high margin mineral-rich projects.
On July 26, 2013, we were incorporated under the laws of the State of Nevada. Our principal executive offices are located at 9300 Conroy Windermere Rd. #3250, Windermere, FL 34786. Our telephone number is (407) 536-9422. Our fiscal year end is March 31.
We are a start-up, exploration stage company. Initially, we purchased a 100% interest in an 8-unit claim block (the “Palayan Gold Claim”) containing approximately 82.7 hectares that is recorded with the Nueva Ecija provincial office of the Department of the Environment and Natural Resources (Mines and Geosciences) of the Republic of the Philippines. The Palayan Gold Claim was assigned to us on June 20, 2013 from Verdasco Enterprises for the sum of $5,000. There has been no production to date, and as of the date hereof, we have no plans to explore the Palayan Gold Claim until such time Company management deems any such exploration financially viable.
On June 1, 2020 (the “Closing Date”), Palayan Resources, Inc., a Nevada corporation (the “Company”), Scythian Mining Group Limited, a company duly formed under the laws of United Kingdom (Company#: 11038421) (“SMG”), and SMG’s wholly owned subsidiary SMG-Gold B.V., a Dutch limited liability company (Company KVK# 76235548) (“SMG-Gold”) (SMG is the sole-shareholder of SMG-Gold) entered into a Waiver of Conditions & Closing Agreement waiving certain closing conditions and closing that certain Share Exchange Agreement (the “Share Exchange Agreement”) by and among the Company, SMG and SMG-Gold dated April 4, 2020, originally reported on Form 8-K filed with the Commission on April 6, 2020. As a result of the closing of the Share Exchange Agreement, SMG-Gold became a wholly owned subsidiary of the Company.
On June 29, 2020 Palayan Resources, Inc. announced that it has entered into a business development and data management services agreements with Cicero Transact Group, Inc. ("Cicero"). Cicero will supply targeted data to PLYN to assist the Company with its marketing strategy within its industry verticals. Cicero will also assist in gold mining industry research and develop online and offline brand awareness content for the Company. The Cicero data management platform and network of Company designated websites will target gold mining industry professionals, gold mining stock investors, family offices, and also multiple industry-related groups on social media. Those awareness efforts will provide a significant benefit to the Company and help expand its brand recognition, including that of the recently acquired SMG-Gold B.V. ("SMG"). Cicero will not only provide PLYN access to direct industry targeted data, but it will also advise PLYN and its subsidiaries on how such targeted data can help execute their business strategy. Cicero will work closely with PLYN to help establish and assist with their core business objectives and lead generation campaigns. "We are confident that our venture with Cicero will assist us in the progress and development of informational gold mining resources. We believe data is the new gold, and we have engaged one of the best data management companies as a partner; we believe strongly in Cicero's data management services," said James Jenkins, President of Palayan Resources, Inc.
On July 6, 2020, Palayan Resources, Inc. announced it has filed a Super 8-K on EDGAR with the Securities & Exchange Commission, which includes a change to non-shell status. The transition to non-shell status is a significant step in the Company’s ongoing progress and underscores its ability to build a strong gold exploration and mining presence in Central Asia. “Our entire team has worked diligently to move Palayan Resources rapidly beyond its shell status with our recent acquisition of SMG-Gold B.V.,” said James Jenkins, President of Palayan Resources, Inc. “I am enthusiastic about our prospects as we push forward to expand our Kokkus Project in Kazakhstan and future exploration and mining opportunities. It is extremely validating to have achieved this important milestone for the Company.”
On July 21, 2020, Palayan Resources, Inc. provided a press release with details of the 2018 drill results and outlined plans for the remainder of 2020. "2020 has been a year of transition for Palayan," said James Jenkins, CEO of Palayan. "The Company made the strategic decision to acquire the Kokkus Project, thereby augmenting its property portfolio." "A major factor in our decision to move on the Kokkus Project was the available drill results from 2018, which we felt provided a solid foundation for what we believe can be a first-class gold property. With the price of gold rising and investors looking for more security, gold provides a commodity that has historically continued to increase in value," stated Jenkins. "It is with this backdrop that we decided to pursue and acquire the Kokkus Project." In order to consider the Historical Estimate as current mineral resources or mineral reserves, Palayan needs to retain an independent qualified person to verify historical drilling and assaying methods and validate historical results, add any drilling and assaying or other pertinent geological information generated since the last estimation, and complete an updated resource estimate and a new technical report. According to an internal, non-independent JORC report based on the 2018 drilling and sampling (the "2018 JORC Report"), the Historical Estimate at Kokkus is estimated to be at least 199,000 ounces Au (JORC indicated and inferred) based on only over 250 meters of Au mineralization on Zone #1, which is now mapped, soil and rock chip sampled and is at least 750 meters long. Also, drilling in 2018 intersected a new Au mineralized zone parallel to Kokkus # 1, which is now identified as Kokkus # 2. The Au mineralization is controlled by a mega fold, which has a length of 2.8 km and width of 900 meters, similar to the Sukhoi Log deposit in Russia, except it is rotated 90º to be flat laying. It is expected that, similar to Sukhoi Log, the bulk of the Au mineralization will be controlled by the axial plane cleavage along the fold hinge. It is believed that there are two populations of gold at Kokkus, free gold, which was in the original sedimentary host rocks, and gold associated with pyrite, which is driven by a massive granodiorite intrusion below Kokkus. This intrusion has remobilised the gold along the axial plane cleavage thus increasing the overall gold grade, by concentrating the original gold as well as adding pyrite rich gold. Based on historical drilling, testing and sampling, the Kokkus has exploration potential in all directions, depth, width, east and west as only 5% of one zone has been drilled. Three (3) separate zones each 40 meters wide have currently been identified by work in 2018-19. It was last drilled in 2018, as well as mapped in detail, soil sampled, had preliminary metallurgical test work done and a structural model was developed. Before the recent work in 2018, no work had been carried out on Kokkus since 1992-3 when some drilling and metallurgical studies were completed. Sometime prior to September 2020, Palayan is expected to start an extensive drilling program at Kokkus, which will test the oxide zone extensively with 10,000 meters RC to 60 meters (water table) which are spaced 80 meters apart to give a JORC Inferred resource and further infill diamond drilling around the current resource zone to increase the JORC Indicated resource. The target of this drilling is to increase the oxide resources as well as the length and depth size potential of Kokkus, it is planned to have a JORC Indicated and Inferred resource by the end of 2020, as well as start an initial Pre Feasibility Study (PFS) to determine the most efficient and quickest way to bring Kokkus into production. "Based on available data, we believe that there is significant potential to expand the Kokkus deposit as the geological model (host rocks, controlling structure, 70% free gold in the oxide zone) are very similar to the giant Russian deposit Sukhoi Log (63 meters oz Au)," concluded Jenkins.
For details on the 2018 drill results or to read the full press release: https://www.otcmarkets.com/stock/plyn/news/story?e&id=1649623 or also visit http://www.PalayanResourcesInc.com
On, August 12, 2020 (Shark Week...) Palayan Resources, Inc. is pleased to announce the appointment of Original Shark Tank Investor and Global Infomercial Inventor Kevin Harrington as an Advisor to the Board of Directors and Consultant to the Company. One of the original Sharks on the hit TV show Shark Tank and an innovator in infomercial marketing, Kevin Harrington is a pioneer of the As Seen On TV empire while enabling countless entrepreneurs and business leaders to turn their ideas into reality. Throughout his corporate ventures, he has launched more than 500 products, driving over $5 billion in sales. As a board member, Kevin co-founded the Entrepreneur’s Organization and his legendary work behind-the-scenes of business ventures with his entrepreneurs has produced dozens of millionaires. Twenty of the companies with which Kevin has been involved have each topped $100 million in revenue. (https://kevinharrington.tv) "I can think of no better way to serve,” said Harrington. "I am very excited to join Palayan to help advance its Kokkus Project! I will share my vast knowledge and resources with the Board and help the Company during this period of growth as it comes out of obscurity and turns into a first-class gold company!” “We’re honored to have Kevin join our team at Palayan as an advisor,” said James Jenkins, CEO, of Palayan Resources, Inc. “He has an extensive and successful track record in supporting companies and we look forward to working with Kevin in growing Palayan as we continue to acquire and develop first-class gold and mineral properties globally. We are sure that our shareholders will realize the influence Kevin has and we are confident that he will be instrumental in accelerating the development of the Kokkus Project and building Palayan into a recognizable name in the gold mining industry.” Barry Davis, Chief Operating Officer and member of Palayan’s Board of Directors, commented: “On behalf of the Board of Directors and of our shareholders, we would like to welcome Kevin to Palayan. Kevin strengthens our approach at the right time, as we move our Kokkus Project forward. His tremendous experience in management and business development will provide invaluable assistance and bring further depth to our team during this period of growth and expansion. Kevin has vast international experience with a history of knowing, and advising, the most powerful companies and leaders in the world. Kevin will be a huge asset to drive our future growth and enable us to become a producing gold company.”
Current Operations - Kokkus Gold Project, Kazakhstan (For more project details, including drilling results and further in-depth analysis, visit: https://palayanresourcesinc.com/projects/)
Location and Access – Kokkus, Kazakhstan is located a 4-hour drive on tared roads from the regional Oblast center of Karaganda, in central Kazakhstan, see map below.
Kokkus is similar style orebody to Sukhoi Log, in Russia, the largest undeveloped gold deposit in the world containing 63m oz Au (Polyus). The similarities between Sukhoi Log and Kokkus are as follows:
1. Au mineralization is structurally controlled by axial plan cleavage as a result of mega scale folding, over 2.8klm,
2. Au mineralization is hosted in very intense silica and illite (white mica) altered black shales, cherts and siltstone +- quartz veins. The intense alteration footprint from ASTER covers over 7 square klm,
3. The Au is free in both in the oxide and sulphide zones with Au recovery up to 70% from the oxide zone, using a fine grind and gravity circuit, similar to Sukhoi Log and in the sulphide zone, free Au recovery has been tested to 45% in 2018.
4. The Au mineralization fluids originally where controlled by the Bozshakoi fault only 3.5klm to the south east, which controlled a massive granodiorite intrusive body, which has driven the Au mineralization at Kokkus. The Bozshakoi Fault is a major continental scale fault, over 800 km long as a result it would have taped deep into the Earth’s crust and mantle The world class Bozshakoi copper-gold deposit is located 390km north of Kokkus on the same structure.
5. Because of the size of the alteration footprint, structural controls, size of structural controls, current average grade of 1.3g/t Au, and similarities to Sukhoi Log the potential Au resource could be very significant.
Unlike Sukhoi Log, Kokkus is 80% exposed on the surface, and has no other major minerals except pyrite and minor Ag. Picture below.
(All the above mentioned information can be found within the June 30, 2020 8K and July 6, 2020 Press Release)
"Palayan is targeting an initial 2 million ounce gold resource, with total resource potential believed to be 5+ million ounces of gold over 7 separate gold zones." (From https://palayanresourcesinc.com/)
(For more project details, including drilling results and further in-depth analysis, visit: https://palayanresourcesinc.com/projects/)
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SEC Filings: https://www.sec.gov/cgi-bin/browse-edgar?CIK=1612851
OTC Markets: https://www.otcmarkets.com/stock/PLYN
PLYN Investors: https://palayanresourcesinc.com/investors