Jameson Stanford Resources, a metals and minerals exploration, development, and production company, today before the opening bell announced its mineral exploration strategy as well as the current status of its existing mining projects.
"Since inception, we have operated as a minerals exploration company focused on acquiring and consolidating mining claims and mineral leases with potential production and future growth through exploration discoveries," said Michael Stanford, President and CEO of Jameson Stanford Resources. "Our current growth strategy is focused on the initiation and expansion of operations through the exploration and development of our current mining claims and mineral properties into producing projects."
Results of Jameson Stanford's current minerals exploration and expansion programs have included the following activities:
• Commenced drilling program and open prospect pit mining on the Star Mountain/Chopar Mine following SEC Industry Guide 7, and National Instrument 43-101 protocols. 17 exploration drill holes 500′ (five hundred feet) at depth for a total of 8,500′ (eight thousand five hundred feet) of drilling completed thus far. Third party engineering and analytical reports are pending. Fifty more exploratory drilling holes have been selected from the company's current geologic observations, geophysical data and geochemical data.
• Acquisition of two Metalliferous Mineral Contracts from the State of Utah Trustlands Administration in areas known to carry economic concentrations of base and precious metals such as copper, lead, zinc, beryllium, bismuth, silver and gold. This acquisition expanded the company's land holdings by 3,324 acres (1,407 acres Star Mountain/Chopar Mine and 1,917 acres Spor Mountain Dugway Minerals, respectively).
• Mined 1,200 short tons of hard rock from two prospect pits at Spor Mountain Dugway Minerals for pilot scale run and testing. Third party engineering and analytical reports are pending.
• Stockpiled approximately 40,105 cubic yards (66,574 tons) of mineral sands at the company's Ogden Bay Minerals project site for near-term processing.
"The preliminary geological reports have confirmed that our sites contain substantial reserves of high-grade copper, gold and silver as well as other highly marketable metals," added Mr. Stanford. "We have enlisted some of the top names in the mining industry to complete testing and create the necessary assay and industry reports that we believe will translate into substantial shareholder value as we get further into our next phase of production and delivery."
Immediate plans for operations include:
• Converting current natural resource sites into producing assets.
• Identifying under-explored mines on existing properties and considering additional under-explored mines for acquisition in the mining districts the company is currently operating that are either built, permitted or have been idled.
• Continuing current exploration and drilling programs and investing resources necessary to discover new ore bodies and open additional mines.
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