Buscar Company Announces It Has Increased Its Mineral Claim Holdings By Over 800% In Past 12 Months; Expands Into Nevada with Acquisition of New Gold Claim

Rhea-AI Summary

Buscar Company has significantly expanded its mineral claims by over 800%, increasing its total to approximately 2,000 acres across California and Nevada. The company has initiated mining operations in Nevada by staking an additional 10 claims, aimed at exploring over 4,000 acres in the state's productive mining region. Following initial soil sampling showing 16 grams per ton of gold, Buscar is optimistic about the area's potential for gold and silver production. The company's strategic focus includes acquiring additional lithium projects to further diversify its portfolio.

Positive

• Expanded mineral claims by over 800%, totaling approximately 2,000 acres.
• Initiated operations in Nevada with 10 newly staked claims.
• Initial soil samples show promising results of 16 grams of gold per ton.
• Plans for further exploration and acquisition of lithium projects.

Negative

• None.

Buscar Company continues its expansion of its mining claims having increased the size of its mineral claims by over 800% to approximately 2,000 acres and has expanded its operations into Nevada

BEVERLY HILLS, CA, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Buscar Company, Inc. (OTC: CGLD), a mining company with mineral rights claims in California and Nevada, announced that it has expanded its mineral rights claims by over 800% in the past 12 months. The company also expanded its mining operations by staking an additional 10 claims in Nevada.  These 10 claims represent the Company’s initial acquisition in Nevada and part of over 3,000 acres that the Company is exploring with the intent to acquire. 

The Company began in 2020 with a single project in California with 200 acres and today has expanded to 4 projects with approximately 2,000 acres in Nevada and California.  Additionally, the Company is looking to acquire Lithium projects in the United States as they continue to expand its portfolio of mineral claims holdings. 

The Nevada Project:

The Company is currently reviewing over 4,000 acres as possible acquisition (or staking) targets in Nevada, the largest gold producing state in the United States.  Nevada was recently named by the Fraser Institute as the world’s top mining jurisdiction due to a very mining-friendly bureaucracy, clear permitting process, as well as very favorable mining industry tax rate.  The acquisition of these new projects will allow the company to expedite projects compared to its California projects. 

Mr. Heathman, the President, explains “These new claims are a step out from our holdings in Northern California, but follow on the exploration methods we use to identify prime targets for further exploration and Nevada provides an easier regulatory framework than in California. To date, limited exploration has been conducted on the property, including Geospatial Data Analyses and soil sampling. Initial soil sampling indicated approximately 16 grams per ton of gold.”

According to the World Gold Council, larger and better-quality underground mines contain around 8 to 10 g/t gold, while marginal underground mines average around 4 to 6 g/t gold. Open-pit mines usually range from 1 to 4 g/t gold, but can still be highly valuable.¹

Mr. Heathman continues, “Using the soil sampling data and linear features maps that were generated, we believe these to be the best locations for claims in the area.  They are based on significant gold and silver values found in soil sampling in an area of significant gold and silver production in the past.  Gold and silver have been produced in the area since 1901, with some very rich deposits found. The area staked is surrounded by producing mines and prospect pits and tunnels.  Although further exploration is required, we believe this is an area that can lead to great potential for gold and silver production for the company.  The ore bodies are predominantly mineralized fracture zones in the volcanic rocks of the area.  The claims were placed to take advantage of multiple fracture zones indicated by linear features that can be mapped from the aerial photographs of the area. Through our exploration activities, we will further refine the best targets for economic mineralization and plan our program of shallow and deep core drilling to delineate the ore bodies that can be economically mined and processed.”

The Company will be announcing further information on our other projects and our current exploration programs as they advance in the near future.

About Buscar Company

Buscar Company is a junior exploration company that is focused on delivering value through mineral discoveries, leveraging its highly experienced in-house technical knowledge, and identifying 2-3 projects per year. The Company has projects in California and Nevada. The Company is working on changing its name to EON Discovery.

Forward Looking Statements

Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release. Please note that the Company believes that any revenue related calculations contained in this release are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors.

References:

¹https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/what-makes-a-world-class-gold-deposit/

Contact:
+1 833.539.4777
office@cgld.email

FAQ

What is the significance of Buscar Company's expansion of mineral claims?

Buscar Company's expansion by over 800% to 2,000 acres indicates a strategic move to increase its resource base and potential for mining operations.

How many claims did Buscar Company stake in Nevada?

Buscar Company staked 10 new claims in Nevada as part of its expansion efforts.

What were the initial soil sampling results reported by Buscar Company?

The initial soil sampling indicated 16 grams per ton of gold, suggesting high mineralization potential.

What strategies is Buscar Company using for future growth?

Buscar Company plans to explore over 4,000 acres in Nevada and is also looking to acquire lithium projects to diversify its portfolio.

When did Buscar Company announce its expansion of mineral claims?

Buscar Company announced its expansion on August 23, 2022.