Gold Mining Company Buscar Provides Crushing & Processing Update

Rhea-AI Summary

Buscar Company (CGLD) has successfully crushed the first 1,000 pounds of ore at the Treasure Canyon Lode Mine. The company is processing this ore through a series of steps, including crushing, creating a slurry mix, and using gravity concentration methods to extract precious metals without harmful chemicals. They anticipate crushing approximately 200-250 pounds daily until a more efficient milling circuit arrives, capable of processing 1-2 tons per hour. This development marks a significant step in their mining operations in Plumas County, California.

Positive

• Successful initiation of ore crushing at Treasure Canyon Lode Mine.
• Implementation of environmentally friendly gravity concentration methods for gold extraction.
• Planned increase in ore processing capacity with the upcoming milling circuit, allowing 1-2 tons per hour.

Negative

• None.

DENVER, Oct. 6, 2020 /PRNewswire/ -- Buscar Company (CGLD) announced today that the first 1,000 pounds of ore has been crushed at Treasure Canyon Lode Mine. The Company has begun processing the initial ore crushed.  This process entails the following steps:

1. Crushing (or milling) of the rock ore to liberate gold particles from rock. We are milling the rock ore into powder down to 200 mesh sized powder.
2. We then add water to the powder to create a slurry mix.
3. We then use concentration methods on the slurry mix. Concentration means increasing the amount of gold (or other precious metals) by selectively removing lighter particles. We use gravity concentration methods that do not require mercury or any other chemicals. This results in a concentrate. 
4. The concentrate is then smelted into Doré bars (or buttons).
5. The metals in each Doré bar still needs to be separated before it can be sold, so the bars are sent to a refinery.  he refinery will determine the percentage of fine metal contained in each and pay us based on the amount of fine metals contained in each bar at the daily market price.

We expect to crush approximately 200-250 pounds a day until we receive the milling circuit that can crush and process 1-2 tons per hour (TPH). We expect the 1-2 TPH milling circuit to arrive in the next few weeks. 

Buscar Company is a mining operation that holds the rights to the Treasure Canyon Mining claims located in Plumas County, California. More information on the 200 acre property, maps, drawings, assays and an appraisal of the mineral reserves can all be found at the company website, https://BuscarCompany.com

Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. https://www.buscarcompany.com/forward-looking-statements

Please refer to our Forum at https://www.buscarcompany.com/forum and the Company's Twitter page https://twitter.com/BuscarCompany for additional information and updates.

Contact:
+1-(661)-418-7842 
info@buscarcompany.com

 

View original content:http://www.prnewswire.com/news-releases/gold-mining-company-buscar-provides-crushing--processing-update-301146294.html

SOURCE Buscar Company

FAQ

What is the latest update from Buscar Company (CGLD) regarding its mining operations?

Buscar Company announced that it has crushed the first 1,000 pounds of ore at the Treasure Canyon Lode Mine and started processing it.

How much ore does Buscar Company expect to crush daily at the Treasure Canyon Mine?

The company expects to crush approximately 200-250 pounds of ore daily until the new milling circuit arrives.

What methods is Buscar Company using for gold extraction at the Treasure Canyon Mine?

Buscar Company utilizes gravity concentration methods for gold extraction, which do not involve mercury or harmful chemicals.

When is the new milling circuit expected to arrive for Buscar Company (CGLD)?

The new milling circuit, capable of processing 1-2 tons of ore per hour, is expected to arrive in the next few weeks.