Cal-Bay Pursues Additional Precious Metal Mining Operations
July 26 2012 - 2:24PM
Marketwired
Cal-Bay International, Inc. (PINKSHEETS:
CBYI)
today announced the company plans to expand
its precious metals mining interests and operations both overseas
and in the USA.
The company today further announced the newly acquired geologist
report on the North Nevada Mine Option, held by Cal-Bay, revealed
significant reserves of precious metals on the gradable 40 Million
Ton soft terrain property in the Northern Nevada region. The
property is in proximity of two operational mines along the same
seam.
Overall the report shows significant deposits of Gold, Mercury,
Arsenic and Antimony within the claim. The Bar Zone samples
contained detectable gold with a high value of 55ppb gold, Arsenic
up to 1120 ppm AS, Mercury as high as 100ppm Hg and Antimony up to
105ppm Sb. The report indicates this seam could yield as much as 1
million ounces of Gold in addition to significant amounts of the
other valuable deposits.
Cal-Bay is in negotiations for partnership agreements with
several accredited groups and institutions to fund the Nevada
mining operations.
Wikipedia: Gold mining in
Nevada, a state of the United States, is a major industry, and
one of the largest sources of gold in the world. Nevada currently
mines 79% of all the gold in the United States, which is equivalent
to 5,640,000 troy ounces (175 t) in 2009. Total gold production
from Nevada recorded from 1835 to 2008 totals 152,000,000 troy
ounces (4,700 t), worth over US $228 billion at 2011 prices. Almost
all the gold in Nevada comes from large open pit mining and cyanide
heap leaching recovery. A number of major mining companies, such as
Newmont Mining and Barrick Gold Corporation, operate gold mines in
the state. Active gold mines include those at Jerritt Canyon and
Carlin.
Although Nevada was known much more for silver in the 19th
century, many of the early silver-mining districts also produced
considerable quantities of gold. The Comstock Lode, for instance,
produced 8,600,000 troy ounces (270 t) of gold through 1959, and
the Eureka district produced 1,200,000 troy ounces (37 t). And the
Robinson copper mine has produced well over 2,700,000 troy ounces
(84 t) gold, along with over 4 billion pounds (1,500,000 tonnes) of
copper.
Safe Harbor Statement: Safe harbor from
liability established by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally can be
identified by phrases such as CBYI or its management "believes,"
"expects," "anticipates," "foresees," "forecasts," "estimates" or
other words or phrases of similar import. Similarly, statements
herein that describe the Company's business strategy, outlook,
objectives, plans, intentions or goals also are forward-looking
statements. All such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those in forward-looking statements.
Contact: Investor Relations: Cal-Bay International, Inc:
IR@calbayinternational.net
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