Good Morning Members, Our alert this morning of ABOT came screaming out the gate with a strong 58% gain in matter of minutes. A pullback this morning has given traders a chance to profit once again if traded correctly for a intra day bounce! Also some great news was released this morning that we think you need to check out! Our latest alert isABOT , ABOT MINING CO.
ABOT Mining provides production costs estimate for producing gold at Aztlan 8B in the Tecuala Mining District in Nayarit, Mexico SHERMAN OAKS, Calif., June 12, 2012 /PRNewswire via COMTEX/ — ABOT Mining (Pink Sheets: ABOT.pk) is pleased to provide preliminary assessment on its estimated production costs for producing gold at Aztlan 8 B Property in the province of Nayarit, Mexico, which is located in the highly mineralized area known as the Tecuala Mining District.
Company`s operating partner has estimated production cost, at site level, per unit of production output to be up to $88.00 per ton including but not limited to cost associated with mining, transportation, milling & floatation and site administration.
This cost does not include royalties, non-cash costs, corporate expenses, value addition of by-products, etc.
As previously stated, past surface trench testing by others on Aztlan 8B has revealed deposits of placer and epithermal gold deposits, where overall bulk sample feed grade ranged from 0.20 g/ton to 39.00 g/ton. Consequently, the cost estimate suggests that gold can be mined economically at the current gold prices and with average feed grade of 2 g/ton of Au and above.
SOURCE ABOT Mining ~~~~~~~~~~~~~~~~~~~~~~~~~~
About ABOT Founded in 1957, ABOT Mining Co. (ABOT.pk) is a US based mining company engaged in the exploration, discovery and production of precious and semi-precious metals and metal properties.
The Company is currently focused on an aggressive growth strategy that includes the acquisition of small to mid-tier target properties with significant growth potential.
The Company aim to maintain a diversified portfolio view of mining projects, which shall include a balance mix of safe, secure investments with immediate cash flow potential and exploration projects that offer greater potential rewards.
Major exploration companies generally focus their attention and resources toward the exploration and production of mature semi-precious metals properties that possess significant proven and probable reserves. The recent favorable economics of the commodities market have improved as prices have risen substantially, providing ample opportunities for smaller independent companies such as Abot Mining to acquire and exploit smaller precious and semi-precious mineral properties worldwide.
ABOT Mining along with Rising Star S.A. de C.V., a Mexican Corporation (“Operating/JV Partner”), plans on developing its gold, silver and copper Aztlan 8B Mining Project (“Aztlan 8B”) 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 Aztlan 8B has been extensively explored and is currently being mined by several known junior mining companies and geological institutions.
Projects Aztlan 8B ABOT Mining along with Rising Star S.A. de C.V., a Mexican Corporation (“Operating/JV Partner”), plans on developing its gold, silver and copper Aztlan 8B Mining Project (“Aztlan 8B”) 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 claim covers 300 plus acres, and is within a few kilometers of the pueblo ` Paulo Blanco `. The area around the Aztlan 8B has been extensively explored and is currently being mined by several known junior mining companies and geological institutions. According to Rising Star, past surface trench testing by others 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. These tests were conducted across outcroppings of silicified volcanic breccias.
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).
Off-Take Agreement ABOT Mining and its Mexican joint venture partner is pleased to announce that they have allocated up to 1,000 tons of Ore as an initial production test run. Subject to recovery rate results and refining cost from this production test run; Abot Mining shall increase the tonnage and frequency of the production.
ABOT Mining has further received encouraging initial flotation engineering results, indicating a recovery value of 89.00% of the Au and Ag and show 2.51 ounces of Au and 19.00 ounces of Ag per metric ton. Based on these criteria, Abot Mining has contacted several mills and is in advance negotiation to finalize contract terms in order to define refining costs and to establish acceptable recovery rates for its Ore supply.
Other Claims Subject to and conditioned upon availibility of proper funding, ABOT Mining plans to acquire various claims (gold and silver) in and around Aztlan 8 B area as recently concluded civil engineering work in February, 2012 on the Aztlan 8B Project further indicated that the mineral deposit may extend beyond the strike zone into an adjacent property to the south.
The Company has commenced preliminary negotiations with the property owner and is currently concluding its internal due diligence on documents provided by the property owner. If our preliminary analysis on this adjacent property is consistent in testing and surface sampling to the Aztlan 8B and deal terms meet our acquisition criteria, we shall immediately begin the process to add this property to our portfolio.
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ABOT CHART ~~~~~~~~~~~~~~~~~~~~~~~~~~
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