STEUBENVILLE, OH--(Marketwired - Jun 21, 2016) - Osceola (OTC PINK: PYHH) is pleased to announce that the Company has passed regulatory inspections and satisfied the necessary governmental requirements to be in compliance with the Nevada Department of Environmental Protection (NDEP), and other governing agencies. As a result, the Company has received authorization to open the gold mine and advance with mining operations.
All licensing and permits are being updated to reflect Osceola Gold's official name. "We are thrilled to be finally able to open the mine for operation. Reaching this milestone is a real game changer for us. We will prepare with great anticipation for what's ahead and embrace the idea that this is only the beginning. With the GeoScan, we know exactly where to focus for immediate results, and we are expecting to be able to have exciting updates to soon report. Shareholders will be kept fully updated as events unfold," stated Chris Tarquino, Chief Executive Officer, Osceola Gold Inc.
Osceola Gold announced that the Company has successfully completed its advanced satellite subsurface GeoScan evaluation, with 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 1870s and continues to this day. Major efforts were put forth in the late 1800s, 1930s and 1970s 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/
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