SOURCE: Arizona Gold & Onyx Mining Company

December 20, 2010 14:20 ET

Arizona Gold and Onyx Reviewing Potential Acquisitions of Additional Placer Gold Prospects

DALLAS, TX--(Marketwire - December 20, 2010) - Arizona Gold & Onyx Mining Company (PINKSHEETS: VGCP) reports that it is reviewing potential acquisitions of additional placer gold properties in Arizona. Following a recent trip to Arizona, and in conjunction with consultants PMT, the Company is focusing its activities on the identification of alluvial gold prospects that offer attractive development prospects and significant growth potential. In light of the historically high world prices for gold and other precious metals, the economics of placer gold mining have improved significantly. Arizona is renowned for its mineral wealth as well as its vast quantities of alluvial material that in this region frequently hold significant values in gold and other precious metals.

PMT Mining & Milling
PMT specializes in Custom Mine Management & Operational Outsourcing. The staff at PMT represents more than 75 years of expertise and experience in all facets of mining and has an enviable record of success in a wide variety of mining projects throughout Arizona.

The Mayer and Yuma Projects
The Company has contracted with PMT to advance its Mayer Polymetallic Project towards production. As well, PMT will be involved in advancing the recently acquired Yuma sand/gravel and gold deposit towards production. The potential to economically extract the known gold from this large alluvial deposit has been clearly established. 

Arizona Gold & Onyx Mining Co.
Arizona Gold & Onyx is a 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. Management is enthusiastic regarding the potential of the Company's ideally located Mayer and Yuma projects and intends to advance these properties toward production as quickly as possible to achieve 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
    Website: www.arizonagoldandonyx.com