LAS VEGAS, NV -- (Marketwire) -- 08/29/11 -- Crowne Ventures, Inc. (PINKSHEETS: CRWV) has begun its first sub-surface excavation under surface rock on their Gallo de Oro property and has discovered gold veins and deposits within 10 feet of the surface which appear to show deeper strike lines, running for an unknown distance. The Company will continue to follow this vein structure in order to delineate its size and width, utilizing an existing excavation path.
Preliminary independent testing reflects 10.7 oz./ton at the extraction point. This compares to successful gold producing mines in the U.S. that are yielding 2-4 oz./ton.
According to Crowne Ventures CEO, Dane Peterson, "Based on lab testing and field reconnaissance, we could possibly see reserves exceeding earlier estimates in the 3 Billion Dollar range based upon the current price of gold on the retail market."
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
The Company has a full time Geologist, Justus Mohl. Mr Mohl Graduated from Würzburg/Germany 1965 as Diplom-Geologe (equivalent to a PHD). He has over 45 years experience as a Staff Geologist and Consulting Geoloist for various American and Canadian companies all over Mexico and Central America.
Mr. Mohl has been the Owner and Operator of some properties within Nayarit, through a Mexican Company, Cía Minera Great Bassin.
Highlights of Mr. Mohl’s career has included work with AMOCO Minerals, ASARCO, ECHO-BAY, Stroud Resources, GEODEX, Teck-Cominco and many others.
As operations increase, the Company will hire a professional Metallurgist or a Mining Engineer, backed by two US Executives who will visit the site on a twice monthly basis.
Similarly, a Security and an Environmental technician will be hired to monitor the safety and environmental protection facility installed in the area.
Mexico, and in particular the Nayarit region, is known for its mining business industry producing virtually highly skilled workers and professional engineers. Personnel at this level are almost everywhere in the country and can be readily engaged to provide services to the Company.
The site organization will be composed of the following:
Site Supervisor - responsible in the supervision of the entire operations both the Mining & Crushing/Agglomeration and the continuous 24 hour Heap Leach Operations. Bookkeeper – responsible in the administration and recording of accounts and the payroll of personnel. Reports directly to the Site Supervisor and indirectly responsible to the Accounts Manager stationed in Manila. Warehouse Clerk – in charge in the administration of the small material supplies of the project.?Reporting directly to the Bookkeeper and indirectly to the Materials and Contracts Manager stationed in Manila Head Office for the supplies movement and stock inventory of the needed supplies and material of the project. Security Officer – responsible of the project security administration and operations. Reporting directly to the Site Supervisor. Community Relations Officer – responsible of the social and community aspect. Reporting directly to the Site supervisor and indirectly to VP on Community Relations.? Surveyor, Mechanic, Electrician, Samplers/survey aid, Heavy Equipment checker, Heap and Truck Driver.??
LAS VEGAS, NV -- (Marketwire) -- 08/31/11 -- Crowne Ventures, Inc. (PINKSHEETS: CRWV) is pleased to announce the plans for its smelting operations for the Gallo de Oro and Oro de Rojos properties.
Crowne Ventures has initiated contract discussions with the engineering staff at the Penoles smelter facility in Torreon, Mexico, which is approximately an 18-hour drive from our mining operations. The Penoles laboratory has been running smelting test procedures for the past several weeks. Once the flux formula for the best recovery is established, the facility's production costs will be established.
We plan for the excavated ore to be crushed to 1/8 minus at our mining site. The preliminary test production of 100 tons will be shipped by truck to the smelting facility. The Penoles facility has the capacity to direct smelt up to 3,000 tons of per month. The Penoles smelter processes ore from across Mexico and we are anticipating that we will have access to the majority of the monthly production.
To accommodate the increased production, we will be negotiating with the local rail system for ore cars to be dropped at rail head near the Gallo de Oro property. As a result, shipping costs will be dramatically reduced and NSRs (net smelter returns) dramatically increased.
In the best interests of the Company, we intend to contact additional production facilities across Mexico and test samples of ore will be shipped for amenability testing.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
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