Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
RENO, NEVADA–(Marketwire – Nov. 27, 2012) – Consolidated Goldfields Corp. (“Consolidated” or the “Company”) (OTC PINK:CDGF) is pleased to announce that the Company has successfully completed the drill program on its Fisher Canyon Property in Pershing County, Nevada. Drilling began November 4, 2012 and was finished on November 12, 2012. The Company completed 11 holes totaling 3,060 feet of reverse circulation drilling at Fisher Canyon and assays are anticipated to be received from drill samples before the end of 2012.
Fisher Canyon is characterized by carbonate rocks that contain thick lenses of volcaniclastic rocks exhibiting extensive hydrothermal alteration. Alteration is manifest by intense silicification and oxidized shear zones along with brecciated quartz veins hosting both widespread low to moderate grade gold mineralization and localized high grade zones (for more information refer to the press release dated February 29, 2012).
Lane Griffin, Professional Geologist, is the Company’s nominated qualified person responsible for monitoring the supervision and quality control of the programs completed on the Company’s properties. Mr. Griffin has reviewed and verified the technical information contained in this news release.
Certain information contained in this news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections. However, such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from such forward-looking statements. The Company disclaims any intent or obligation to update publicly any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
