Gold and Gemstone Mining Signs MoU and Acquisition of Gringo Viejo Project
22 Julho 2014 - 9:30AM
Gold and Gemstone Mining Inc. (OTCQB:GGSM) engage in the
acquisition, exploration-production, and development of gold and
other minerals properties in Mexico announce today the acquisition
of Gringo Viejo Project.
Ivan Mondragon, Vice President and General Manager of the
subsidiary in Mexico, "We are pleased to inform our shareholders
that we have acquired 'the Gringo Viejo Project', one of the best
chances to be in production of gold and silver on a very short
term. The mining potential found is very promising for the
strategic future of this company, especially being located on the
best gold zone of Mexico. Near the concession are large Mexican and
foreign like Sierra Metals Inc and Goldcorp Inc where reported has
produced 1.5 millions of gold ounces at very low cost and has even
proven and probable reserves by 260,000 ounces with forecast
production of between 100,000 - 105,000 oz in 2014, produced
high-grade silver. In 2013, a total of 97,063 tonnes were mined
from development rock at an average grade of 167g/t Ag and 0.49%
Pb. Other highlights on the same area include Minera Frisco SA of
CARSO Group whom has acquired a majority its mines in this State.
These examples together represent a great potential with large
reserves of gold, silver, copper, lead, zinc, iron and nickel, and
other minerals. Lastly, as the current government in México is
improving in many areas, the mining owners are increasingly open to
cooperate, understanding better foreign investors, improvements to
communication routes and other changes in the political reforms
have improved the conditions of mining sector."
About Gold and Gemstone Mining
Gold and Gemstone Mining is a company focused on the
acquisition, exploration and potential development of prospective
gold and silver properties in North and South America. Our strategy
is to build a pipeline of gold and silver projects to explore and
develop, or enter into joint-ventures. We target projects in
historic mining districts with what are believed to have potential
for large-scale exploration or relative short to medium-term
production.
FORWARD-LOOKING STATEMENTS: "Safe Harbor"
Statement under the Private Securities Litigation Reform Act of
1995: Statements relating to the company's business activities and
other statements in this press release are forward-looking
statements within the meaning of the Securities Litigation Reform
Act of 1995. Such statements are based on current expectations
about the Company's business. Words such as expects, anticipates,
intends, plans, believes, estimates and similar words and
expressions are intended to identify such forward-looking
statements. These statements involve risks that are difficult to
evaluate. Actual results can vary from descriptions herein due to
many factors including changes in metal prices and business
conditions; changes in laws and regulations; problems encountered
in exploration and obtaining permits; changes in the competitive
environment; technological advances; shortages of skilled workers,
drill rigs and equipment; the need for additional capital and other
risks listed in the Company's Securities and Exchange Commission
filings under "risk factors" and elsewhere. Forward-looking
statements speak only as of the date they were made. The Company
does not undertake any obligation to update forward-looking
statements.
CONTACT: Investor Inquiries:
info@ggsmining.com
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