SOURCE: Osceola Gold, Inc.

Osceola Gold, Inc.

September 06, 2016 09:53 ET

Osceola Gold Announces Official Launch of MAV-G Mining Operations in the Osceola Mining District, White Pine County Nevada

STEUBENVILLE, OH--(Marketwired - Sep 6, 2016) - Osceola (OTC PINK: PYHH) is pleased to announce that the Company has received the remainder of its heavy equipment, completed operation set-up, and will commence mining operations in the Osceola Mining District this week.

"It has not come without significant tenacity and perseverance, but we are extremely pleased to be finally initiating production. This has been a monumental milestone for our team. As we mobilize toward the next set of goals, we intend to keep our investors fully updated as we begin to generate results. This is only the beginning. We have great expectations for the coming quarter," stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold Inc.

Upon initiation of processing, drilling begins under the guidance of Distinguished Geologist, David Bending. The Mine's primary goal is to complete 6 to 8 core drill holes for the compiling of data required to file a National Instrument 43-101 ("NI 43-101") resource report and to Certify Mav G Values.

Osceola Gold has successfully completed its advanced satellite subsurface GeoScan evaluation. The GeoScan evaluation yielded results that revealed gold saturation in both target areas tested. Based on data derived through satellite deep scanning of the areas tested on the Mav G property, the first hotspot revealed an average of 5 - 8 grams per ton was discovered in terrain from 0 to 78 feet deep. The second hot spot which runs from surface to 13 feet deep on an average, revealed 15 grams or higher and two pay streaks underneath averaging 4 to 8 grams per ton.

Mining in the Osceola District, White Pine County Nevada, was launched in the 1870's and continues to this day. Major efforts were put forth in the late 1800's, 1930's and 1970's with both lode and placer mining striking success with the removal of considerable amounts of gold. Studies conducted throughout these periods indicate economically viable amounts of gold in both the bedrock and in particular, the placer deposits that remain. For more information: visit: http://www.nbmg.unr.edu/

About Osceola Gold: Osceola Gold Inc. is a public company listed on OTC Markets (OTC Pink: PYHH). The Company was formed to pursue Gold and precious metal mining opportunities in the surrounding area in the Osceola Gold mining district, located in White Pine County, Nevada; it is approximately 29 miles southeast of Ely. In addition to these claims, Osceola Gold Inc. is leasing the mining rights to the Mav G mining claims, which run up the middle of a large alluvial fan which runs from Mary Ann Canyon into the Spring Valley. Osceola Gold Inc. has also obtained all required permits.

Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • For Investor Relations Contact:
    Osceola Gold Inc.
    740- 275-4227
    Osceolagoldinc.com
    Please follow us on Twitter- osceolagoldinc.