Star Targets the
Commencement of Mining Operations
Westlake Village, CA -- May 28, 2020 -- InvestorsHub NewsWire --
Star Alliance International Corp. (OTC
Pink; STAL; "Star" or the “Company”) is pleased to introduce
our Company to our shareholders and prospective investors.
Richard Carey, CEO of Star Alliance International, stated, “We
are excited to introduce our Company to you. We are now
planning to make the final payment due for the purchase of the mine
and start the process of restarting mining operations. We are
preparing the documentation necessary to obtain our permits and
complete our plans to widen the road to the mine as well as
refurbishing the on-site mining equipment. Our primary objectives
are solid growth, profitability and improving Shareholder
Value.”
Corporate History
Star Alliance International Corp. is a Nevada corporation
incorporated April 17, 2014 and has been repurposed for the
acquisition and development of natural resource opportunities. The
Company is a “34 Act” fully reporting company, current on its
filings with the SEC and its common shares are traded under the
stock symbol “STAL”
on the OTC Pink market.
On August 13, 2019, the Company acquired the assets of Troy
Mining Corp, a Nevada corporation ("Troy") for stock and cash
payments. The final cash payment is now due.
The Troy Mine
The assets of the mine include gold mining claims
consisting of approximately 4800 acres, located east/southeast of
El Portal, California, in Mariposa County. Under the terms of the
asset purchase agreement Star acquired 100% of the assets of the
Troy Mine for stock and cash. Such assets include a production
processing mill together with associated buildings, all the mining
and support equipment at the Troy mine site, all the Troy mining
claims, and related geological reports relating to the property,
assay reports on the property, and all core drilling samples. Based
upon the extensive geological reports, core drilling samples, and
existing portals, Star believes it can rapidly bring this mining
property into economic production. Details are as
follows:
· Project is located at the
base of the “gold mother lode” in one of the three major vein belts
where the greatest concentration of minerals settled over the years
in California.
· Project was being actively
worked as recently as 2002.
· There are a minimum of
eight major existing production shafts within the project claims
that have produced approximately one million plus troy
ounces of gold within the past 150+ years.
· There are approximately
sixteen additional portals located within the project claims.
· These portals have never
been worked with modern equipment, only pick/shovel and
dynamite.
· Veins in existing portals
have never been followed via modern methods (3D imaging, etc.).
IMPORTANT FEATURES OF PROJECT
· The project consists of
mining claims located upon land under the control of BLM and
Forestry Service not the state of California with oversight being
by these two agencies.
· This is a hardrock mining
project, not an open pit or placer type project resulting in much
less oversight for air pollution and visual impact.
· Star’s project is not a
start-up project; it is the reopening of an existing, recently
worked, mine so effectively “grandfathered”.
EXISTING BENEFITS OF PROJECT
· There is an existing grid
of roads and trails that crisscross the project providing access to
the prime portals. The roads are graded dirt that can be maintained
as passable year round and the trails can be expanded into passable
roads. The estimated cost to build these roads and trails today
would be in excess of $10 million, however widening the main 7 mile
road to the mine would be much easier and costs would be
approximately $500,000.
· There is a gravity flow
ball mill installed on the site that is complete from an ore
introduction conveyor system and both rough and crushed ore bins
with a pneumatic air hammer/blaster system, through the separation
portion of the mill including water and other solutions storage
tanks and circulating system and separation tables. This equipment
has a replacement cost of approximately $1.8 million. It will
probably take $200,000 to add missing equipment and wiring.
· On site there are two
self-contained generators connected to existing electrical
distribution panels with an on-site replacement cost of
approximately $12,000.
· The project has multiple
production shafts (portals) that have in-shaft RR track
installed.
· Sufficient timber is
located within the claim areas to both provide shoring material for
new tunneling; with the possibility if practicable, to sell any
excess timber.
· While primarily a gold
recovery project, geologists and assay reports indicate the amount
of recoverable silver available in quantity is equal to that of
gold which adds significantly to the bottom-line profit.
· Star has a large library
of mining history of the area and the production shafts located
within the project boundaries along with extensive exploration and
geology maps, reports, etc.
THE TROY MINE VALUE
There have been two valuation reports on the property, one in
2000 and one in 2004. The first report was issued by Behre
Dolbear & Company, Inc., one of the world’s leading mineral
industry advisory firms and a foremost authority on mining property
valuation. Central to Behre Dolbear, is its independence and the
recognition by both the mining and financial communities of the
accuracy, reliability, and integrity of every report it produces.
Behre Dolbear’s approach to business involves the use of exclusive,
conflict-free experts dedicated to meeting their clients’ specific
requirements. One of Behre Dolbear’s prime geologists for this
project was Mr. Mark Payne who was responsible for conducting and
overseeing most of the original surveying and mapping of the
property. The second report was prepared by Dr. Robert B.
Garcia. Dr. Garcia had a long history as a developer, owner and
operator of numerous mines and mining companies and as a consultant
for the mining and precious metal industries. He graduated from
Arizona State University with a degree in chemistry, but his
vocational experience is mainly as a metallurgist. He also had
consulted within the mining industry as an expert witness in court
litigation and served as an assay referee in large bulk precious
metal purchases and in evaluating mine properties for their ore
value. Based on Dr. Garcia’s report the estimated gold reserve
within the boundaries of this project at 2,048,720 troy ounces
which based on today’s gold prices values the reserves in excess of
$3.48 Billion.
ADDITIONAL KEY RESOURCES
· Star has initiated what it
perceives as an excellent working relation with the BLM and
Forestry Service officials that will be involved in the project’s
operation.
· Star has arranged to
retain Mark Payne (one of Behre Dolbear’s prime geologists, see
above) who is most familiar with the property to help in
reestablishing mining operations. Besides his time with Behre
Dolbear, Mr. Payne served as chief geologist for several major
companies such as Emgold Mining Corp and Sutter Gold Mining and has
been an independent geological consultant since 1985 specializing
in exploration, definition, and resource estimation of gold- quartz
vein systems and gold deposits dominated by coarse particulate
gold. He is a California Registered Professional Geologist #7067,
and a member of the American Institute of Professional Geologists.
Mr. Payne attended California State University Sacramento, Bachelor
of Arts Geological Sciences Program.
· Star also has arranged to retain the
services of a former General Manager of the mining operation who
has a hands-on, on-site knowledge of the proper operating methods
for Star’s project. This individual has his BS in Economics from
the Wharton School of Finance and has been involved in the precious
metal and various aspects of the mining business for more than 30
years.
Planned Operations
The Company is in the process of the preparation necessary to
restart mining operations.
The Company believes that it will take approximately three
months to obtain the necessary approvals and acquire the additional
equipment required.
The Company intends to submit a plan of operations for our
mining activities on the Star Alliance International Corp. Claims
to the BLM district office. The plan of operations must include
appropriate environmental protection and reclamation measures and
describe either the entire operation proposed or reasonably
foreseeable operations and how they would be conducted, including
the nature and location of proposed structures and facilities. The
public has the conditional right to cross mining claims or sites
for recreational and other purposes.
Since the discovery of gold at Sutter’s Mill on the American
River in January, 1848 the area known as the “Mother Lode Region”
has been one of the most prolific gold producing areas in the
world. The Mother Lode is a long narrow strip on the western
foothills of the Sierra Nevada enclosing a mostly continuous series
of gold deposits. It is a mile wide and approximately 120
miles long. There is a wall-like mass of quartz that outcrops
at intervals along the belt. The wide zone of parallel and
discontinuous gold vein deposits is referred to as the Mother Lode
System. Mining on the Mother lode belt is favored by nearness to
supply centers, good transportation facilities, labor supply, good
climatic conditions and by the slow increase of rock temperature in
depth. Star is looking forward to the resumption of mining
operations with confidence particularly due to the metrics as
described and recognizing that no mining to depth has occurred on
the project.
Safe Harbor and Informational Statement
This press release may contain forward-looking information
within the meaning of Section 21E of the Security Exchange Act of
1934, as amended (the Exchange Act), including all statements that
are not statement of historical fact regarding the intent, belief
or current expectations of the company, its directors or its
officers with respect to, among other things: (i) the company's
financing plans; (ii) trends affecting the company's financial
conditions or results of operations; (iii): the company's growth
strategy and operating strategy; and (iv) the declaration and
payment of dividends.
The words "may", "would", "will", "expect", "estimate",
"anticipate", "believe", "intend", and similar expressions and
variations thereof are intend to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statement is not a guarantee of future performance and involve
risks and uncertainties, many of which are beyond the company's
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors including the risk disclosed in the company's
statements and reports filed with the OTC Markets. The Company
claims the safe harbor provided by Section 21E(c) of the Exchange
Act for all forward-looking statements.
For more information contact Richard Carey
E Mail: info@staralliancemines.com
Twitter: @StarAllianceIn1
Web Site: staralliancemines.com
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