SOURCE: Varca Ventures, Inc.

December 15, 2011 16:11 ET

Varca Ventures Uses Initial Funding to Begin Remediation of Historic 1902 Colorado Gold Mine

DURANGO, CO--(Marketwire - Dec 15, 2011) - Varca Ventures, Inc. (OTCBB: VRCV) announced that its first round of financing for $750,000 which was completed in October, will fund the remediation of the May Day Idaho Mining Complex, located near Hesperus, Colorado, 15 miles west of Durango, in the California Mining District. Varca will use this capital to proceed with rectifying the conditions within the permit approved last month. Upon completion of the remediation work, the company expects to resume mining activities. All activity on the site had previously been stalled under prior management.

Current Mining Lease Data:

  • Varca holds a 10-year renewable lease for mining on the 151 acre May Day mine property owned by Fairview Land Corporation of Boulder, Colorado.
  • Varca owns the 141.5 acre Idaho mine property and millsite, through its subsidiary Wildcat Mining Corporation which purchased all mineral and surface rights to the Idaho mine property in 2006. This property consists of 15 patented lode mining claims covering a total of approximately 141.5 acres, specifically the following claims: Idaho Millsite, Idaho Millsite No. 1, Idaho Millsite No. 2, Alpine, Lord Kitchener, Hartford, Gertrude, Good Hope, Sunrise, Cathryn, Midnight, Helen, Midnight No. 2, Pay Day, and Pay Day Millsite.

The Idaho and May Day mines were operating throughout the early 1900s, and were acquired by Varca Ventures in its acquisition of Wildcat Mining Corporation; both have historically produced gold and silver ore.

Varca Ventures, Inc. is an exploration stage company that seeks to engage in the acquisition, exploration and development of natural resource properties primarily in North America and is headquartered at 1630 Ringling Blvd., Sarasota, FL, 34236.

Forward-Looking Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. There are forward-looking statements within this news release, and actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, competition, permitting, and the risk that the Company may not find any minerals in commercially feasible quantity. These and other risks are described in Varca Ventures, Inc. 8K report filed on November 2, 2011 and other filings with the Securities and Exchange Commission.

Disclaimer: This announcement has been written by American Business Writers Corp., who has been engaged on behalf of Varca Ventures to assist in the marketing and advertising of Varca for monetary compensation. All content in this release is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. The terms of engagement by Varca Ventures Inc. with American Business Writers calls for compensation of fifty-thousand restricted shares to perform editorial and advertising services for twelve months, which services include the issuance of this release. Prior to any dissemination of press releases on behalf of the Company, the content is reviewed and approved by Varca's management team.

Contact Information

  • Contact:
    Randy Oser
    President
    (941) 951-0787