Bolivar Mining (CE) (USOTC:BOLV)
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From Jul 2019 to Jul 2024
Bolivar Mining (Pink Sheets:BOLV) announced today that over $1,000,000
USD has been invested in modern mining equipment to boost gold
production at the currently producing Red Dragon 1 gold mine in Southern
China. The Company recently announced that it had acquired a 40%
interest in the property.
Red Dragon 1 is one of four mine sites comprising the Red Dragon Mining
Properties located around Jinzhuang, China. Red Dragon 1 is currently
generating revenues of approximately $3,000 per day using ancient gold
mining methods, crude by today’s standards.
The modernization process at Red Dragon 1 is underway with the infusion
of $1,000,000 in equipment, including advanced drilling and crushing
technology. The modern mining equipment is currently on-site and
functional. Full-scale production using the advanced technology and
equipment is expected to commence within four weeks.
“We believe the recent infusion of modern
equipment and the implementation of advanced mining techniques will
substantially increase production at Red Dragon 1,”
stated Bolivar Mining President, Arshad Shah. “We
anticipate corresponding production revenues will increase to
approximately $17,000 per day or over $6 million per year based on
current gold prices. We are looking forward to working closely with our
Chinese Partners to build a prosperous business model”
This is another major milestone for Bolivar Mining manifesting its
continued commitment to rapidly develop its gold properties in China.
The Company is currently evaluating other gold and mineral opportunities
in seven countries around the world.
About Bolivar Mining Corp.:
Bolivar Mining Corp is an exploration and mining company seeking global
mining prospects in over five countries on three continents. By
implementing efficient operations and engineering excellence, BMC will
have opportunities to operate in areas where larger mining companies
cannot operate profitably, thus creating an opportunity to extract and
sell precious minerals to the global market. For more information, visit
our website at www.bolivarmining.com.
Forward Looking Statement:
Information in this release may constitute forward-looking statements
within the Private Securities Litigation Reform Act.
BMC can give no assurance that its expectations will be achieved.
Forward-looking statements are inherently subject to unpredictable and
unanticipated risks, including, the mineral prices, costs of operations,
delays acquisition of additional mineral reserves, maintaining lease
rights, continued maintenance of mining operations, price of minerals,
government regulation, competition, and general economic conditions.
BMC assumes no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events. Readers are
cautioned not to place undue reliance on these forward-looking
statements.