Venturenet Capital (CE) (USOTC:VNTN)
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From Jun 2019 to Jun 2024
VentureNet Capital Group, Inc. (Pink Sheets:VNTN)
announced today it has entered into a joint venture with West Desert
Gold Mines, Inc. and Universal Mud to explore and mine three gold mine
properties.
Pioche Hero claim is an ore body in Lincoln County, Nevada on a 320 acre
BLM claim with present proven and estimated reserves of 200,000 tons
estimated by Bill Fuller, P.E. to contain over 3 ounces of gold and gold
equivalent per ton. This reserve estimate was arrived at by twenty-one
10 ft. dig hole tests 1 and 1/2 miles across the length of the claim.
Additional exploration, drilling, trenching, and assaying on
geologically determined 100 foot centers will be conducted to further
determine if this is a bankable commercial ore body reserve.
Universal Mud will earn 40 percent of the net metal for mining and
concentrating the ore in place and hauling the concentrates to the
Dalton Mill for metal recovery. Twenty percent of the gross metals will
be set aside to cover this cost and any savings will be divided equally
between West Desert Gold Mines, Universal Mud and VentureNet Capital
Group, Inc.
Universal Mud will finance the metal recovery at the Skull Valley Mill
in Prescott, Arizona, now leased to West Desert Gold Mines, Inc., until
the Dalton Plant in Pioche is fully permitted and equipped to process
the metals. West Desert Gold Mines, Inc. will supervise the permitting,
mining, drilling and exploration and receive expenses for management and
20 percent of the net metals recovered. VentureNet Capital Group, Inc.
will receive 20 percent of the net metals for consulting, advising and
assisting in arranging additional financing.
West Desert Gold Mines, Inc. has the Willow Creek Placer Mine, and the
Dale Mine at Imly under option. The Willow Creek operation consists of
400 acres of patented land with 400,000 estimated tons of tails in ponds
with an average assay of 5 ounces per ton. The Dale Mine is 300 acres
with 300,000 tons estimated and geologically tested and assayed ore in
place with an average grade over 2 ounces per ton.
The success of these mining ventures will depend on arranging financing,
payment of option money and working capital. Production should begin
within 90-120 days after all financing has been acquired.
About VentureNet Capital Group
VentureNet Capital Group is a business consulting and management company
that provides capital information, media services, advertising and
marketing as well as funding to public and private companies. The
company specializes in helping with funding public businesses that
represent emerging growth opportunities as well as established companies
that demonstrate potential for long-term capital growth. VentureNet
produces a radio talk show called wallstreetnewshour.com, and
co-produces a national television show filmed on the floor of the
American Stock Exchange called Let's Talk Stock, to help profile public
companies to the capital markets. VentureNet also markets JIAN business
software at www.jian.com/a/mkb123.
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the securities Act of
1933, and are subject to Rule 3B-6 under the Securities Exchange Act of
1934, and are subject to the safe harbor created by those rules. All
statements, other than statements of fact, included in this release,
including, without limitation, statements regarding potential future
plans and objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and other results and further
events could differ materially from those anticipated in such
statements. Technical complications that may arise could prevent the
prompt implementation of any strategically significant plan(s) outlined
above. The company cautions that these forward-looking statements are
further qualified by other factors. The company undertakes no obligation
to publicly update or revise any statements in this release, whether as
a result of new information, further events or otherwise.