Maxam Gold Corporation (OTC PINK: MXAM) http://www.max-amgold.com, Maxam Gold Corporation, has engaged approximately 50 Artisanal miners in the Colon province of eastern Honduras, to explore and perform test production from potential alluvial gold deposits. Maxam is working with local and indigenous peoples who are independent miners (Artisanal). They will be exploring areas for sustainable production, using no toxic chemicals or other environmentally harmful methods. The company expects to see results from their work in a few weeks as they return from the isolated interior of Honduras. Based on results, Maxam looks to assist the Artisanal miners, who now work with only hand tools, in acquiring newer equipment to streamline production.
In addition, the company is investigating a mining concession in the Choluteca Province, near the famous New York and Honduras Rosario Mining Companys Bonanza and Rosario Mines. The concession, which dates back to the Spanish mining era, is potentially a source of ore using new and more efficient exploration and mining methods.
Mining, the mainstay of the Honduran economy in the late 1800s, declined dramatically in importance in the 1900s. The New York and Honduras Rosario Mining Company (NYHRMC) produced US$60 million worth of gold and silver between 1882 and 1954 before discontinuing most of its operations. Mining's contribution to the GDP steadily declined during the 1980s, to account for only a 2 percent contribution in 1992. El Mochito mine in western Honduras, the largest mine in Central America, accounted for most of the mineral production. Ores containing gold, silver, lead, zinc, and cadmium were mined and exported to the United States and Europe for refining.
About Maxam Gold Corporation.
Based in Nevada, Maxam Gold Corporation is a leading gold mining and development company with its main focus on mining concessions in Nicaragua. Maxam Gold Corporation was formed in 1975 and has been involved in the mining and exploration of gold since 1985. Gold demand, along with gold prices, has revitalized the company. Its policy of acquiring gold production, through the partnership and acquisition of active gold mining companies, will allow Maxam to expand more rapidly and increase the profitability of its current operations.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.The words or phrases "would be," "would allow," "intends to'" "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Company website: www.max-amgold.com
SOURCE: Maxam Gold Corporation