ABOT Mining Co. Provides Update on its Aztlan 8B Project in Mexico
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Abot Mining Co. Ida Cap (PC) (USOTC:ABOT)
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Today : Monday 19 December 2011
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ABOT Mining (Pink Sheets: ABOT.pk) is pleased to provide the following update on mining activities around its Aztlan 8B Project (the "Project") which is centrally located in the State of Nayarit in the Tecuala Mining District on the west coast of Mexico. The Tecuala Mining District is considered a widely mineralized area and identified as a major deposit of gold and other minerals.
The area around the Project has been extensively explored and is currently being mined by several known publicly traded and private junior mining companies. For example, to the north and east of the Project, Nayarit Gold, Inc., holds extensive mining claims and is conducting core drill evaluations. Few kilometers to the south of the Project is another successful mining company, Vane Minerals Group, which has the "El Diablito" claim that has average feed grade ranged from 2 g/T Au, 200 g/T Ag (Source: www.vaneminerals.com). Further in the vicinity of the Project is US Gold, which has its El Gallo Project where only a limited amount of drilling has occurred on veins, but the results have been encouraging with measured and indicated resources of 39.8 million oz. of Ag and 550,000 oz. of Au (Source: www.usgold.com).
Based on these encouraging discoveries by mining companies around the Project area, ABOT Mining is extremely positive on the prospects of the Project and is looking forward to initiate its preliminary phase of its trench testing program. As evidenced by results of other mining companies, past surface trench testing has revealed deposits of placer and epithermal gold deposits, where overall bulk sample feed grade ranged from 0.20 gm/t to 39.00 gm/t. Mexico has a rich mining history of almost 500 years and has become the prime destination and a top tier country to develop mining operations as per Fraser Institute.
About the Company
ABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Sherman Oaks, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation. ABOT's strategy is based on a positive outlook in the precious and semi-precious sector and finding synergies with mineral owners to deliver consistent returns to its shareholders.
Forward-Looking Statement
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Contact:
Morris Rafi, PresidentAbot Mining Co.13920 Moorpark Street, Suite 201, Sherman Oaks, CA 91423E: info@abotmining.com
SOURCE ABOT Mining Co.
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