• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Azco Mining Engages Engineering Firm for Feasibility Work on Summit Silver- Gold Property

Posted on: Wednesday, 20 September 2006, 09:01 CDT

GLENDALE, Ariz., Sept. 20 /PRNewswire/ -- Azco Mining Inc. (BULLETIN BOARD: AZMN) , a U.S.-based mining and exploration enterprise focused on gold, silver, copper and industrial minerals, announced today that it had commissioned the geological engineering firm of Chapman, Wood and Griswold, Inc. (CWG) of Albuquerque, N.M., to coordinate feasibility work on the company's recently acquired Summit silver-gold deposit located in Grant County, N.M.

CWG will work in conjunction with other specialized firms and consultants. Based on the results of the feasibility work, Azco expects to be in a position to decide whether to proceed with production. The study is targeted for completion in December 2006.

Dr. Pierce Carson, CEO, said, "At current silver and gold prices, there is little doubt that mining at Summit would yield attractive operating margins. However, in order to commit the capital and other resources necessary for production, we need to receive the results of the engineering work that is underway. The engineering results will provide us with reliable capital and operating costs and a project budget and schedule. This work will form a sound basis for the project's development.

"We believe there are no significant obstacles to moving forward to production. That will be the company's main near-term focus. The important operating permits are already in place and we have acquired most of the equipment necessary for processing. When the final engineering studies are completed, we will be in a position to release more details, such as projected capital and operating costs and a schedule for production."

Chapman, Wood and Griswold, Inc. is a highly respected mining engineering and geological firm that specializes in technical and financial advice to the mining and related industries. CWG's areas of expertise include exploration, feasibility and production of open-pit and underground mines, with a focus on base and precious metals, uranium and industrial minerals. CWG's clients include mining companies, nuclear power companies, financial institutions, law firms and government agencies.

The company acquired the Summit property and related assets in May 2006. In the 1980s, drilling and other work on the property that cost $10 million delineated mineralized material with grades in the range of 8 to 10 ounces of silver per ton and 0.12 to 0.15 ounces of gold per ton. At today's metal prices, in-ground values exceed $250 million. The Summit property also has excellent upside exploration potential. It is located in the Steeple Rock Mining District, which has yielded notable precious metals production in the past.

About Azco Mining Inc.

Azco Mining is a U.S.-based mining and exploration company focused on acquiring and developing gold, copper and industrial mineral properties. The company owns the Summit gold-silver property and a mill site and processing equipment in southwestern New Mexico; mineral lease rights to the Ortiz gold property in north-central New Mexico, believed to contain 2 million ounces of gold; a high-quality mica mine and processing facility near Phoenix; and a large resource of micaceous iron oxide (MIO) in La Paz County, Ariz. Azco intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals. To learn more about Azco Mining Inc., visit http://www.azco.com/.

An investment profile about Azco Mining may be found at http://www.hawkassociates.com/azmnprofile.aspx.

For investor relations information regarding Azco Mining, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com/ and http://www.americanmicrocaps.com/ .

The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements, in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein.

Contact Information Hawk Associates, Inc. Frank N. Hawkins, Jr. or Julie Marshall Phone: (305) 451-1888 E-mail: info@hawkassociates.com

Azco Mining Inc.

CONTACT: Frank N. Hawkins, Jr. or Julie Marshall, +1-305-451-1888, orinfo@hawkassociates.com, of Hawk Associates, Inc.

Web site: http://www.azco.com/http://www.hawkassociates.com/azmnprofile.aspxhttp://www.americanmicrocaps.com/

Source: PRNewswire

More News in this Category