CMBV-news - Cambodian Ventures
Limited announced today that it is negotiating to acquire up
to an 80% working interest in a producing gold mine in the Koh Khner area,
Sambo District, Kratie Province in the Kingdom of Cambodia. The site is
forty-nine (49) square kilometres and includes one site that is currently
being actively mined by CHHUNG KOR CHHEAN PEAN CO., Ltd.
Gary Fineberg, CEO of Cambodian Ventures Limited, stated: “The site
currently has 24 men working two shifts processing ore. With the proper
equipment, PEAN estimates that the site will be able to process up to 70
tons of ore per day. PEAN estimates of the concentration of gold are
approximately 37.5 grams per ton. Processing 70 tons per day, this averages
out to approximately 2,625 grams of gold per day, or approximately
$46,875/day. We are currently evaluating and verifying the data provided by
the mine owners and determining the investment necessary to create
production at levels that PEAN indicated. Further information will be
provided as negotiations progress and we obtain additional geological
data.”
Cambodian Ventures Limited’s mission is to obtain licenses for the
exploration and mining of precious minerals in Cambodia. Cambodian Ventures
intends to carry out exploration activities in regions containing gold and
other precious minerals. It is management's opinion that the high-quality
minerals such as gold, zinc and other resources in Cambodia are largely
untapped, and the opportunity exists for significant positive development.
Safe Harbor Statement: The statements, other than the statements of
historical facts may be deemed to contain forward-looking statements with
respect to events, the occurrence of which involves risk and uncertainties,
including, without limitation, demand and competition for the company's
products and services, the availability to the company of adequate
financing to support its anticipated activities, the ability of the company
to generate cash flow from operations and the ability of the company to
manage its operations.
CONTACT:
Cambodian Ventures Limited
1-(978) 654-5217
www.cambodianventures.com
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