SOURCE: Arizona Gold & Onyx Mining Company

December 14, 2010 12:08 ET

Arizona Gold and Onyx Acquires a Second Mineral Project in Arizona and Advances Its Mayer Polymetallic Project

DALLAS, TX--(Marketwire - December 14, 2010) - Arizona Gold & Onyx Mining Company "AGOM" (PINKSHEETS: VGCP) is pleased to announce the acquisition of promising sand and gravel aggregates and a placer gold property located in Yuma County, Arizona. The Yuma property comprises a very large resource of high quality construction aggregates ideal for road construction and other major uses of aggregate. Importantly, native gold and other precious metals are contained in this large resource of alluvial sands and gravels that virtually blanket the 1,000-acre Yuma property to an average vertical extent of more than 200 feet. 

The Company is also pleased to report on its progress on the Mayer polymetallic project located in Yavapai County, Arizona. Both of the Company's mineral projects are located in mining-friendly Arizona, the nation's leading mining state.

The Yuma Project
AGOM intends to aggressively advance the new Yuma project toward production of sand and gravel in the months ahead and to also pursue the potential of building a placer gold mining operation in conjunction with aggregate production. There is strongly established potential to economically extract the gold and thus enhance the economics of the entire project. Management is enthused that ultimately, the cash flows from the sale of aggregates as well as the potential revenue from gold sales will contribute significantly to overall corporate growth.

The Mayer Polymetallic Project
Located in Yavapai County, Arizona, the Company's Mayer project is in close proximity to all required mining infrastructure such as power, transportation, labor and mining equipment and, importantly, is in one of the country's most mining-friendly regions, owing to the mineral wealth that has been critically important to Arizona's economic growth and prosperity for generations. The Mayer property is a polymetallic project that contains a large deposit of high grade honey onyx as well significant occurrences of gold, copper and PGMs (Platinum, Palladium and Rhodium).

Working to Advance Mayer towards Production
AGOM is pleased to report on its progress on the Mayer polymetallic project located in Yavapai County, Arizona: To advance the Mayer property towards production the Company has engaged NI 43-101 qualified geological consultants and is also working with PMT Mining & Milling, a private mining company that is a specialist in Custom Mine Management & Operational Outsourcing. This work will include the previously announced comprehensive 2-stage work program that will initially focus on the requisite permitting and infrastructure required to complete a program of sampling, assaying, metallurgy and a feasibility plan to initiate production. As well, the Company intends to conduct an aerial geophysical survey over the Mayer property to guide a planned program of core drilling. Predicated on the drill results, AGOM expects to then finalize its mining plan and install the required mining equipment so that production can commence as quickly as practical.

About Arizona Gold & Onyx Mining Co.
Headquartered in Wilmington, California, Arizona Gold & Onyx is an entrepreneurial led junior mining company focused on aggressively pursuing opportunities in the exploration, development and production of precious/base metals and high quality onyx in mining friendly jurisdictions such as Arizona. The Company initially acquired its promising Mayer polymetallic project with the intention of achieving production as quickly as possible and, through its industry-wide network, has subsequently identified and acquired the high-potential Yuma aggregates and gold property.

Management is enthusiastic regarding the potential of the Company's two well-located projects and intends to advance these properties towards production as quickly as possible in order to realize rapid corporate growth and enhancement of shareholder value.

Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.

Contact Information

  • Contact Information:
    Corporate Address
    Arizona Gold and Onyx Mining Co.
    317 Eubank Ave, Suite 2B
    Wilmington, CA 90744
    Tel: 1-310-835-8494
    Fax: 1-310-835-4784
    Email: Email Contact