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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Rainmaker Worldwide Inc (PK) | USOTC:RAKR | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00005 | 7.14% | 0.00075 | 0.0007 | 0.0008 | 0.00075 | 0.0007 | 0.0007 | 15,100 | 15:37:28 |
May 22, 2012
Press Release Regarding Geology andMining Activities at
Asset #27(Mt. Boy) and Asset #26(Reveille)
The company recently received a memofrom our Geologist Brian R. Bond regarding our second property Asset #27 (Mt.Boy/Eureka) which has 58 claims covering 1,160 acres near Eureka, Nevada. The memo is shown here.
“GEOLOGICALSUMMARY, Mountain Boy Mining Claims, Eureka Mining District; Eureka, Nevada,Re. CJT Mining, Inc. By Brian R. Bond,Geologist March 30, 2013
MountainBoy Mining Claims
TheMountain Boy property consists of 58 lode mining claims (1,160 acres) locatedin the Battle Mountain/Eureka gold belt. The contiguous claim block is adjacentto American Barrick’s Ruby Hill mine, which is to the northeast.
Barrick’sEast Archimedes open pit produced 125,000 oz. of gold in 2011 and 41,000 oz. in2012 ; it has 326,000 ounces of gold reserves. The gold grade increases withdepth.
Mostof the historic production from the claim block came from the Mountain Boy andKentucky mines. There are also prospect pits scattered throughout the property.Historic gold grades range from .01 ounces per ton (opt) Au to .527 opt Au;silver concentrations range from 1.25 opt Ag to 47.8 opt Ag. The ratio ofsilver to gold increases to the west and southwest.
Mostof the old workings are aligned alongthe mineralized northeast-southwest lineament which passes through theArchimedes pit and the east-west trend which was mined at Prospect mountain.These two trends intersect in the middle of the Mountain Boy claim block, alongthe northwest strike of the Battle Mountain/Eureka gold belt.
Existingmine workings on the property require geological mapping and sampling. TheBattle Mountain/Eureka, Ruby Hill and Prospect Mountain trends merit detailedexamination. Mine dumps should also be sampled. “
This memo confirms that our claimswhich are adjacent to Barrick Gold’s Ruby Hill/Eureka operations are in thecross hairs of major mineralization trends from the east and the northculminating at the locations of the Kentucky Mine, Mt. Boy and about 12 otherprevious prospecting/mining sites.
Some of the historical information wehave gathered from these previous activities have provided us with some verypromising opportunities.
Asset #27 (Mt. Boy Eureka) – 58 claims 1,160 acres
Asset #27 is adjacent on two sides tosome highly regarded precious metals properties:
1. Approximately 75 claims and 1,500acres, the Prospect Ridgeimmediately to the east is certifiedto contain over 10 million tons of minable ore containing a minimum of 10million ounces of gold and 20 million ounces of silver. This property has been actively mined by oldtimers from 1870 to 1930 with recent activity from 1995 to 2002 by the currentowners but due to the age of the owners they do not appear ready to go intoproduction at this time.
2. Over 1,000 claims, 20,000 acres ownedby Barrick Gold. Claims are filed in the names of BarrickGold, Ruby Hill Mine and Homestake Mining. The Ruby Hill mine is located on the Battle Mountain/Eureka gold trend,less than one kilometer from the town of Eureka. Barrick acquired the mine through a mergerwith Homestake. Ruby Hill is anopen-pit, heap leach operation. In 2011 after an extended redevelopment phase,Ruby Hill produced 127,000 ounces (approx. $200 M) of gold at total cash costsof $334 per ounce. Proven and probablemineral reserves as of December 31, 2011 were 978,000 ounces of gold.
Asset #27 (Mt. Boy) located in the Mt.Boy Range just to the west of Prospect Ridge and South of Barrick Gold’s claims. Mined intermittentlyfrom 1860 up to the 1930s, approximately 15 different independent miningoperations were conducted with horses and mules as the primary means of accessin and out of the steep terrain.
Historical Information from samples gathered from the various historicalmining operations at Asset #27 (Mt. Boy) have been charted and tabulated. The tonnage estimates use the Jensen methodof estimating which estimates apercentage of mineralization, in this case 10% in only the top 100 feet and inonly 13 of the 58 claims. The estimateindicates a very significant potential tonnage of ore of over 10 million tonsand the historical samples assay results which we have not had the chance toverify yet show very high grade mineralization with an average of 0.192 ouncesof gold per ton and 12.756 ounces of silver per ton.
Asset#26 (Reveille) Trenching and Drilling
Historical Information Asset #26 at Reveille is much furtheralong than Asset #27 as far as preparation for drilling, mining and processingof ore. Asset #26 also has a historicalanalysis that is very similar to that shown above for Asset #27, using theJensen method of estimating which estimates a percentage of mineralization, inthis case 10% in only the top 100 feet and in only 14 of the 54 claims. The estimate indicates a very significantpotential tonnage of ore of over 6 million tons and the historical samplesassay results which we have not had the chance to fully verify yet show veryhigh grade mineralization with an average of 0.01 ounces of gold per ton and 17.546 ounces of silver per ton.
AboveGround Stockpiled Ore Value - Thestockpiled ore derives it’s valuation numbers from certifications in July 2009by a qualified individual as to the tonnage and grade of the stockpiled ore andhas been extended at today’s prices to show an above ground asset value of $39,178,000.
Because Asset #26 has roads,stockpiled ore and a more developed infrastructure, the decision has been madeto bring it into production before Asset #27.
The next step in the pre-productionactivity is an expansion of drilling activities by proceeding to do additionalsampling in thirty-three (33) fifty (50) foot long trenches in 20 of the miningclaims on the west side of our mining claim properties.
The results of this trenching, rippingand sampling will establish a more thorough understanding of near surfacemineralization where the initial mining is to start. From the trenching analysis, another 25 drillhole locations will be identified and drilled. These 25 drill holes will provide the data needed to block out and provethe ore reserves needed to commence mining, and construction of the gold-silverprocessing facility.
Posted by N. Fred Anderson, President
Statements contained in this summary that are not statementsof historical fact are "forward-looking statements" as that term isdefined under federal securities laws, including, without limitation, allstatements concerning expectations, beliefs, goals, intention or strategies forthe future of CJT Financial, Inc. and/or CJT Mining, Inc. Forward-looking statements may beidentified by words such as "goals," "plans,""believes," "will," "expects" and other words ofsimilar meaning used in conjunction with, among other things, discussions offuture operations, financial performance, product development and new ventures.Many factors could cause actual events or results to differ materially fromthose expressed in any forward-looking statement. This document is not asolicitation to invest. Investors arecautioned not to place any undue reliance on any forward-looking statements.
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