The project comprises approximately 55 acres and is located in the Marysville Mining District in Lewis and Clark County.
It is comprised of the Nile Mine, a former lead, silver, and gold mine, and the nearby TG placer claim.
The Nile Mine is reported to have had production from the 1890’s to the 1940’s, and has underground workings indicating a 90 foot shaft with 300 feet of drifts, as well as an 825 foot crosscut.
The TG placer claim has tailings from a former producer with indications of both silver and gold values.
Initially, the Company plans to complete initial due diligence and compile historical data.
We also plan to commence surface and geological mapping, surface sampling, and conduct metallurgical testing of tailings present on the TG placer claim. Our plans also call for obtaining the required permits for rehabilitation efforts to gain safe access to underground workings, so additional sampling programs will be possible.
The MOU has been extended until September 30, 2014 provided the company makes a payment of six thousand dollars in cash or restricted stock prior to that date, confirms the summer exploration budget by June 30, 2014, and issues a payment in cash or stock of five thousand dollars by May 25, 2014.
In other news the Company has recently completed a reverse split of its common stock with an objective of improving our financing capability. We have recently retained a consultant, Robert Gates, to advise the Board of opportunities in the natural resource and real estate sectors in North America, and corporate development. We continue our activities in Croatia evaluating potential energy, mineral resource and real estate opportunities.
