August of 2011, the Graystone Company finished 23 days of test mining to assist in determining the size and location of the gold deposits on the property. Test results indicated 0.62 grams of gold per ton with a range of 0.46 grams to 1.47 grams per ton. According to our expert geologists, these internal numbers indicate the potential of gold reserves of a possible value greater than $100,000,000 and a potential for mining the property for at least 10 years. We are currently finalizing a third party geological report on the property, and will then begin obtaining the necessary permits from the government of Peru to begin full mining operations on the property. Graystone Mining estimates that this process will run six months from the date of which the Company files the environmental impact study with the government.
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