Mining Minerals of Mexico announces Production Update
SANTA MARGARITA, Calif., May 23, 2013 /PRNewswire/ — Mining, Minerals of Mexico, Corp. (OTC: WIIM)(“MMM”), is pleased to announce an update on its gold producing ‘Gallo de Oro Property’ (“Gallo”), located in Tecuala, Nayarit, Mexico.
In July 2012, the Company accumulated a beginning stockpile of approximately 18,000 tons of ore from the Gallo property which is being prepared for custom milling and processing. Surface and stockpile grab samples, along with several diamond drill samples taken at a depth of approximately 30 feet, resulted in excellent assays and results from floatation engineering.
MMM has started additional testing and processing of ore and tailings from the Gallo Property, prior to a core drill analysis of the deposit. This will be used in conjunction with that future drill data, to provide a more complete understanding of the total value.
Phase one of these surface evaluations has been completed and a preliminary production site chosen for custom ore processing. The initial stage of property access road pioneering has been completed to allow excellent access to the property. Additionally, the placement of road base materials has been initiated in preparation for the “rainy season”. Proper planning and infrastructure buildup should reduce the downtime on production.
For preliminary production testing at the mill facility, sub-contractors have been hired on a contract basis for trucking, tractors, laboratories, geologists, onsite labor, engineering and consultants.
MMM is planning a structured expansion, based on production and revenue, to assimilate these categories into the workings of our Mexican operations.
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.
SOURCE Mining, Minerals of Mexico, Corp.