Bayport International Holdings, Inc. Announces Gold and Silver Assay Results
October 25 2012 - 2:40AM
Marketwired
Bayport International Holdings, Inc. (PINKSHEETS: EXTO) is pleased
to announce the culmination of the first round of comprehensive
testing and assay results. As our shareholders are well aware,
Bayport has filed with the Bureau of Land Management (BLM) and
State of Utah, Department of Natural Resources, Division of Oil,
Gas and Mining to commence small mining operations on the first few
of our mining claims. Not all claims have been tested and assayed.
This will come in the next testing phase.
Assay results from Auric Metallurgical Laboratories are now in
hand. These results are all we could have hoped for. The first of
the claims tested shows quantities of gold at 0.279 troy ounces per
ton and Silver at 0.267 troy ounces per ton. While the pricing of
gold significantly outweighs that of silver, it is nice to have
both present. At today's prices this equates nearly $400 per
ton.
Assuming in the beginning stages that we move just twenty five
(25) tons of earth per hour (one ton is approximately one scoop
with the front end of a standard backhoe), working a ten hour
workday and just 180 days per year due to inclement weather and
mechanical difficulties would result in gross income of $18,000,000
per year, from just one claim (nearly 2 1/2 cents per share --
income & 20 cents per share valuation).
In addition to the gold and silver, potentially profitable
levels of magnetite (iron ore), palladium and other rare earth
elements have been shown to exist in this claim.
Bayport will next determine methods to increase gross income and
minimize expenditures. Information on the production phase will be
forthcoming in a subsequent release.
Bayport International Holdings, Inc. Management
About Bayport International Holdings, Inc. Bayport International
Holdings, Inc. is a company formed to exploit the various precious
minerals in the U.S. to acquaint the public with practical
investment opportunities in strategic metals and minerals. Bayport
International Holdings, Inc. is primarily focused on precious
metals, rare earth, and oil and gas ventures. Bayport International
Holdings, Inc. is developing mining and oil and gas properties with
economic potential with the aim of bringing such properties to
commercial production. The company's portfolio of properties is
primarily located in the prolific western USA in Utah and Texas.
www.BayportInternational.com
Cautionary Note Regarding Forward-Looking Statements This press
release and the statements of representatives of Bayport
International Holdings, Inc. (the "Company") related thereto
contain, or may contain, among other things, "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical fact included herein are "forward-looking statements,"
including any other statements of non-historical information. These
forward-looking statements are subject to significant known and
unknown risks and uncertainties and are often identified by the use
of forward-looking terminology such as "guidance," "projects,"
"may," "could," "would," "should," "believes," "expects,"
"anticipates," "estimates," "intends," "plans," "ultimately" or
similar expressions. All forward-looking statements involve
material assumptions, risks and uncertainties, and the expectations
contained in such statements may prove to be incorrect. Investors
should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results (including, without limitation,
Bayport's ability to advance its business, generate revenue and
profit and operate as a public company) could differ materially
from those stated or anticipated in these forward-looking
statements as a result of a variety of factors, including factors
and risks discussed in the periodic reports that the Company files
with OTC Markets (Pink Sheets). All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. The Company
undertakes no duty to update these forward-looking statements
except as required by law.
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