Gold Mining USA Acquires Palmyra Gold Property in Lyon County, Nevada
March 27 2014 - 8:00AM
Gold Mining USA, Inc. (GMUI), today announced that
the Company has acquired the Palmyra property, a 160-acre gold and
silver laden resource located in Lyon County, Nevada, near the
world famous "Comstock Lode" mine and Gold Canyon.
Gold and silver-bearing quartz veins as well as free gold,
silver and traces of copper at shallow depths have been unearthed
at the Palmyra property, which is estimated to contain over 135,000
ounces of gold (inferred mineral resource) at 80% fine grade
quality. The property, which Gold Mining USA acquired through a
share sale agreement, has already produced over 35,000 ounces of
gold in the past and is located in the Indian Springs District at
the crest of the Pine Nut Mountains in Nevada. Indian Springs is
located 11 miles southeast of Dayton, Nevada which is in very close
proximity to the Comstock Lode mine and Gold Canyon where massive
amounts of gold and silver have previously been discovered and the
area shares similar geology. The Comstock Lode is considered one of
the most important mining discoveries in American history in both
output and significance, representing the first major silver
discovery in United States history that also produced tremendous
amounts of gold. Based on multiple samples taken by the Company's
geologists from the claim's ore dump/loose shallow vein systems,
the property showed XRF readings ranging from .09 to 1.38 ounces of
gold per ton. President of Gold Mining USA, Maurice Byrne,
commented, "We are very pleased to announce our acquisition of the
Palmyra property which we estimate holds a tremendous amount of
gold based on current and previous studies. Additionally, this
property has ideal mining conditions as it is very accessible, has
a year-round warm climate and available water resource allotments
through existing aquifers in the area." "Further, our newly
acquired gold property offers wide-open space for setting up
milling and mining operations. Gold Mining USA already has several
proprietors interested in entering into a joint venture agreement
for this property and we anticipate this project to be highly
valuable to the company and its shareholders," continued Mr.
Byrne.
About Gold Mining USA, Inc.
Gold Mining USA, Inc. is an emerging mineral resources company
focused on developing metallurgical and mining projects. The
Company's business model is to acquire projects with the potential
to provide significant resources through exploratory drilling and
generate value through their development, joint venture or
divestment. For more information, please visit www.gmuiinc.com.
Forward Looking Statements
This news release contains forward-looking statements made by
Gold Mining USA, INC. in reliance upon the safe harbor provisions
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All such statements included in
this press release, other than statements of historical fact, are
forward-looking statements. Although Management believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will
prove to have been correct. Actual results may differ materially
from those indicated by these statements. The following risk
factors, among others, could cause actual results to differ
materially from those described in any forward-looking statements.
These risks and uncertainties include, but are not limited to,
economic conditions, changes in the law or regulations, demand for
products and services of the company, the effects of competition
and other factors that could cause actual results to differ
materially from those projected or represented in the forward
looking statements. Forward-looking statements are typically
identified by the words: believe, expect, anticipate, intend,
estimate, and similar expressions or which by their nature refer to
future events. It is always best to seek advice from a licensed
financial advisor before making any investment.
CONTACT: Gold Mining USA Inc.
info@gmuiinc.com
209-386-7753
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