Double Crown Resources Signs Contract for Exclusive Rights to Major Source of Highest Grade Barite, Located in Guatemala
May 27 2014 - 8:30AM
Business Wire
Development of Barite Mining for Global
Oilfield Drilling Industry Expected to Stimulate Socioeconomic
Rewards for the Guatemalan People
May 27, 2014 -- Double Crown Resources, Inc. (OTCQB: DDCC),
a fully reporting company, (hereinafter, "Double
Crown"), is extremely pleased to announce that a formal
contract has been signed granting the
company exclusive rights to all barite ore from
the Bilojom II mine in Guatemala. This is a milestone event
for both the Double Crown company and also the people of Guatemala
who are now in a position to receive a powerful and far
reaching economic stimulus from the full development of their
country's premium mineral assets which are in tremendous demand by
today's expanding petroleum energy market. The Bilojom II mine
is a major natural resource for the highest grade barite,
exceeding current American Petroleum Institute (API) standards
and possesses a very high capacity to produce this
important strategic mineral. Barite (barium sulfate) is used as a
key weighting agent in modern oilfield extraction methods by
both on-shore and off-shore drillers throughout the
world. With barite export operations planned to begin by
the 3rd quarter of 2014, the benefits to everyone involved with
Double Crown, and all the local operations in
Guatemala, are expected in the very near term. The
anticipated high revenues generated from this
development can not only enhance DDCC shareholder
value but also vastly help improve the lives of the Guatemalan
people by creating new and better paying employment in a
wide range of services associated directly or indirectly with
the mining & shipping operations. Double Crown management
wishes to express great thanks to everyone who worked hard to
bring success to this project including, of course, all
of our attorneys in both the U.S. and Guatemala for
their very professional, comprehensive and timely efforts.
Double Crown is now in negotiations to commence barite ore
shipments from the Bilojom II mine site via the Guatemalan deep
water port of Santo Tomas de Castilla. Local government
officials and the managers of this port have already expressed very
strong enthusiasm for working with us on this endeavor
and are preparing for expansion as well
as infrastructure improvements for our planned
operations. Initially, barite will be shipped directly to
Double Crown's customers who have their own processing
facilities. At a later point, the
shipments will be directed to New Orleans, LA to be
prepared for use at the plant we have leased there and
anticipate to be operational in 2015. This plant will utilize
Double Crown's patent-pending aggregate material transport
container system for the most efficient, cost effective and
environmentally friendly method of delivery by truck, rail or water
shipping methods. As recently announced, this game-changing
transport system has just undergone significant new design
engineering work and has been refined to a state that is now
far advanced of any other method of aggregate
material transport in the global shipping industry
today. We will literally be true to our company slogan;
"We drive the minerals that drive the market," and we will drive
the minerals to the market via our patent-pending new transport
system.
Regarding the signing of the contract for rights to the Bilojom
II mine site and related plans, Chief Operating Officer
Antonio B. Castillo commented, "I am so glad that my recent travels
to Guatemala and the contacts established there have helped Double
Crown Resources establish exclusive control over this
major source of the highest grade barite which is
such a valuable commodity in the world today. Through our
management's market research over the past year we became
aware that Bilojom II was a greatly prized source of high
grade barite with some of the very best testing ore that
actually exceeds current API standards. We also learned that a
number of major interests in the global oilfield drilling
industry were seeking access to or control of Bilojom II for
this reason. Beyond the given benefit to DDCC shareholder
value, our management could not be happier
that we will be helping all the Guatemalan
people involved with this project in so many ways. In addition
to the new employment that will be created, Guatemalan
business & government officials will be able to take
advantage of a new long-term, high value revenue
stream to create or improve social services on every
local level including healthcare, education,
communications, technological advancements and much more. This
is a great step forward for our company, its investors
and for the people in Guatemala who can now benefit
immensely and almost immediately from the value of their
country's own natural resources."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration
and development company holding a 100% interest in the Bateman gold
& nickel prospect near Thunder Bay, Ontario, Canada. In
addition, Double Crown is targeting new properties as well as
oilfield supply & service projects that have the potential
for near-term positive cash flow. The company is presently
reviewing a number of new natural resource properties that are near
to, or in production, located in North, South and Latin America.
Multiple oilfield service projects are currently under active
development. Double Crown Resources, Inc., originally founded in
2006, is based in Henderson, NV.
Neither this press release nor any related calls or discussions
constitutes an offer to sell, or the solicitation of an offer to
buy, any securities.
Forward-Looking Statements
You should not place undue reliance on forward-looking
statements in this press release. This press release contains
forward-looking statements that involve risks and uncertainties.
Words such as "will," "anticipates," "believes," "plans," "goal,"
"expects," "future," "intends," and similar expressions are used to
identify these forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as
described in this press release. For further information about
Double Crown Resources, Inc., please refer to its website at
http://www.doublecrownresources.com/.
Double Crown Resources, Inc.Jerold S. Drew, CEO & Chairman
of the Board10120 S. Eastern Ave. Suite 200Henderson, Nevada
89052Phone: (707) 961-6016Email: info@doublecrownresources.com