Ely Gold Submits Plan of Operations for Green Springs Project
November 12 2013 - 3:55PM
Marketwired
Ely Gold Submits Plan of Operations for Green Springs Project
ELY, NV--(Marketwired - Nov 12, 2013) - Ely Gold & Minerals
Inc. ("Ely Gold" or the "Company") (OTC Pink: ELYGF) (TSX-VENTURE:
ELY) is pleased to provide the following update on its 100% owned
Green Springs property located in White Pine County,
Nevada. An exploration Plan of Operations (POO) has been
submitted to the U.S. Forest Service in October, 2013. An
Environmental Assessment (EA) is also in progress for this POO. The
proposed project area covers several drill targets identified from
historic drill assays, soil samples and the CSMAT geophysical
survey. Enviroscientists, Inc is coordinating the permitting and
environmental requirements for the EA. A map of the proposed
project area is available on the Ely Gold website at
www.elygoldandminerals.com.
Green Springs lies approximately 5 miles south of Ely Gold's Mt.
Hamilton project and 14 miles southeast of Midway Gold's ("Midway")
Pan Deposit, 7 miles southeast of Midway's Goldrock project and 10
miles northwest of Pilot Gold's Griffon project. The Mt
Hamilton Project is being managed by Solitario Exploration &
Royalty Corp. ("Solitario") under a joint venture agreement with
Ely Gold whereby Solitario owns 80% and Ely Gold owns 20%. Green
Springs is owned 100% by Ely Gold and is not part of the joint
venture with Solitario. Mt. Hamilton, Pan and Goldrock are
currently in the permitting process for mine development.
The Company, in conjunction with SRK Consulting, has now
compiled all the historical data including previous work by U.S.
Minerals Exploration Company ("USMX") during the 1980's. The USMX
work outlined six zones of gold mineralization from approximately
680 reverse circulation drill holes. Using a cut off grade of
0.7g/t Au, USMX developed and produced from three of these
mineralized zones. Historic production records, from
1988-1990, indicates that 1.1 million metric tons of ore
averaging 2.1 g/t gold were mined by open pit mining and heap
leaching. Gold recoveries of approximately 80% were obtained from a
relatively coarse crush. USMX abruptly ceased production when they
purchased Alligator Ridge in 1990. Three mineralized zones
remained un-mined and very little exploration work was done on
peripheral or deeper targets after the initial
discoveries. The Company has identified drill targets designed
to twin USMX holes and test upslope extensions of the existing pits
based on extensive ground sampling, mapping and the CSMAT
geophysical survey. Drilling is anticipated in fall of 2014.
"We have now compiled the extensive data packages we received
with the Green Springs acquisition and we are anxious to begin a
drill program in 2014", stated Trey Wasser, Ely Gold's President
& CEO. "After identifying the historic mineralized zones and
compiling the other data we have identified multiple targets that
stretch the entire length of the property. We have decided to file
the POO and institute a more aggressive development plan than would
be allowed under USFS categorical exclusions. Completing the EA
will also allow us to begin a full Environmental Impact Study
during the exploration phase."
John Brownlie, Ely Gold's Executive Chairman commented on the
permitting process, "Nevada has emerged as the premium jurisdiction
for mine development, despite a longer permitting process. We have
chosen to invest in Green Springs by beginning this process with
the longer term view of having a project fully permitted for
exploration and development. These permits will add significant
value to what we believe is a very high quality property."
This press release has been read and approved by Stephen
Kenwood, P. Geo, a director of the Company and is a Qualified
Person as defined by National Instrument 43-101.
On Behalf of the Board of Directors
Signed "Trey Wasser" Trey Wasser, President &
CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
For further information, please contact Ely Gold & Minerals
Inc. 604-488-1104 E-mail: trey@elygoldandminerals.com Website:
www.elygoldandminerals.com