Lima, Peru, Gold Horizons Mining Co. Ltd. (“GHM” or “the Company”) is pleased to announce that on May 16th, it entered into a Letter of Intent (“LOI”) to acquire an 75/25% profit sharing agreement interest in an alluvial gold project located near the town of Quince Mil in the district of Camanti, Cusco, Peru.
“The Camanti project is a project with tremendous opportunity in gold reserves. This is a well-known region having a rich and fascinating history for gold production. Our plan is to start a small operation immediately starts to produce gold and let the project prove itself. 1-2 million ounces of alluvial gold production over the life of the project would not surprise me” stated Scott Francis, CEO
According to the terms of the Letter of Intent, G.H.M will earn an up to 75% equity interest in the project upon the execution of the Formal Agreement. Over the next 30 days, the following issues will be addressed and defined-
1. Due diligence showing the concession has a clean title and all necessary operating permits in process, stating when mining operations can commence.
2. Startup payment obligations.
3. Minimum capital expenditures towards exploration & development activities over the next 12 months.
- Alluvial gold deposit potential already identified representing potential for near-term production
- The concession is strategically located near to infrastructure, bordering the Inter-Oceanic Highway and the Araza River and within reach of the Quince Mil electricity powered hydroelectric plant.
- Located on Araza River, a tributary of Inambari River and known to be gold-bearing, and also provides potential for near-term production
- All environmental, legal, and community issues in good standing.
"The Camanti project is an extremely interesting project in an area having a rich and fascinating history for gold production. I believe the project has tremendous potential and could possibly hold in excess of 1-2 million ounces of gold in alluvial and hard rock deposits." Confirmed Scott Francis, CEO
About Gold Horizons Mining Co. Ltd.:
Gold Horizons Mining is a mineral exploration and development company engaged in the acquisition, exploration and development of gold mineralization properties internationally. Gold Horizons Mining Co. Ltd.’s current primary focus is gold exploration in Peru.
This news release may include "forward-looking statements" regarding Gold Horizons Mining Co. Ltd., and its subsidiaries, business and project plans. Where Gold Horizons Mining Co. Ltd. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Gold Horizons Mining Co. Ltd. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Gold Horizons Mining Co. Ltd.
Scott Francis+51 988 988 027