SHERMAN OAKS, Calif.,
Dec. 16, 2011 /PRNewswire/
-- ABOT Mining (Pink Sheets:ABOT.pk) announced today
that it has formulated an agreement with Rising Star S.A. de C.V.,
a Mexican Corporation, to acquire 50.00% equity interest in its
Mexican mineral property (the "Aztlan 8B Project").
The Aztlan 8B Project is located in the State of Nayarit in the Tecuala Mining
District on the west coast of Mexico. The claim covers 300 plus acres, and
is within a few kilometers of the pueblo 'Paulo Blanco'. The Tecuala Mining District is
considered a widely mineralized area and identified as a major
deposit of gold and other minerals. The area around the Aztlan 8B
has been extensively explored and is currently being mined by
several known junior mining companies and geological institutions.
According to Rising Star, past surface trench testing by others
revealed deposits of placer and epithermal gold deposits, where
overall bulk sample feed grade ranged from 0.20 gm/t to 39.00 gm/t.
These tests were conducted across outcroppings of silicified
volcanic breccias.
Mexico has a rich mining
history of almost 500 years which preceded the arrival of the
Spaniards in 1500s. However, since 1995, mining exploration has
become increasingly attractive for foreign investors due to the
creation and amendment of the applicable legal framework including
the North American Free Trade Agreement and implementation of
mining laws and environmental regulations that are favorable to
mining exploration, development and production.
"We look forward to partnering with Rising Star and initiating
the preliminary phase of our trench testing program of the Aztlan
8B Project. We strongly believe that results from our
preliminary phase shall provide an objective view on viability of
these gold and silver deposits. Subsequent to these results, the
Company shall utilize its financing capabilities and Rising Star's
mining expertise to develop the Aztlan 8B Project and to further
explore and acquire additional mineral properties," said
Morris Rafi, President of ABOT
Mining.
About the Company
ABOT is a US based mining company engaged in discovering,
acquiring, developing, producing, and marketing precious and
semi-precious metal properties and is currently headquartered in
Sherman Oaks, California. ABOT
plans to create long term shareholder value by implementing an
aggressive exploration program, making new precious metals
discoveries and developing mining properties with long-life and low
cost operation. ABOT's strategy is based on a positive outlook in
the precious and semi-precious sector and finding synergies with
mineral owners to deliver consistent returns to its
shareholders.
Forward-Looking Statement
Any statements made in this press release which are not
historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act
of 1995, concerning potential developments affecting the business,
prospects, financial condition and other aspects of the company to
which this release pertains. The actual results of the specific
items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon
the best judgments of management of the company as of the date of
this release, significant deviations in magnitude, timing and other
factors may result from business risks and uncertainties including,
without limitation, the company's dependence on third parties,
general market and economic conditions, technical factors, the
availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the company. The
company disclaims any obligation to update information contained in
any forward-looking statement. This press release shall not be
deemed a general solicitation.
Contact:
Morris Rafi, President
ABOT Mining Co.
13920 Moorpark Street, Suite 201,
Sherman Oaks, CA 91423
E: info@abotmining.com
SOURCE ABOT Mining Co.