Osceola Gold Announces Successful First Month of Operations and Progress Update on Gold Yield and Geology Report

Rhea-AI Summary

Osceola Gold announces successful first month of operations and progress update on gold yield and geology report

Positive

• Osceola Gold has achieved its projected yields for the first 30 days of full operations
• Recent acquisition of $2M in non-dilutive funding has enabled the company to make great strides towards its goals
• The company conservatively projects a gold yield of approximately half a gram per ton of dirt processed on average
• The estimated production rate for the current 10-hour day operations is 2-4 ounces of gold per hour, or 20-30 ounces of gold per day
• Osceola Gold has enlisted the expertise of Geo Scan, Inc. to perform a subsurface scan to enhance its operations
• The forthcoming geology report will provide more detailed information on the location of the largest gold deposits, enabling the company to maximize efficiency and production
• Osceola Gold expects to regain its Pink Current tier status in the coming days, marking a significant milestone
• The company is evaluating opportunities for non-dilutive funding from private investors
• Osceola Gold continues to review highly qualified candidates for key positions within the organization

Negative

• None.

Osceola Gold Announces Successful First Month of Operations and Progress Update on Gold Yield and Geology Report

STEUBENVILLE, OH / ACCESSWIRE / October 20, 2023 / Osceola Gold, Inc., "OSCI", (OTC PINK:OSCI) - Osceola Gold, a leading Junior mine in the mining industry, is thrilled to announce a successful initial 30 days of full operations. The company has achieved multiple exciting milestones in line with its updated road map.

Having completed its first 30 days of full operations, Osceola Gold is proud to report that it has met its projected yields for this period, thanks to the recent acquisition of $2M in non-dilutive funding. Tracy Pizzoferrato, the interim CEO, expressed her excitement, stating, "With full operations underway, we are thrilled to announce our team has been successful in meeting our original projections and we are taking the necessary steps to maximize production efficiency. Our recently secured funding has enabled the company to make great strides towards its goals, and we are excited for what the future has in store."

Currently, the company conservatively projects a gold yield of approximately half a gram per ton of dirt processed on average. The estimated production rate for the current 10-hour day operations is 2-4 ounces of gold per hour, or 20-30 ounces of gold per day. To further enhance its operations, Osceola Gold has enlisted the expertise of Geo Scan, Inc. to perform a subsurface scan. Geo Scan, Inc. utilizes patented hardware and artificial intelligence-based algorithms developed by their team of quantum physicists to provide highly accurate subsurface scan reports. These reports include vein tracking, deposit quantification by mineral, and 2D/3D mapping. The forthcoming geology report will provide Osceola Gold with more detailed information on the location of the largest gold deposits, enabling the company to maximize efficiency and production. The company anticipates exceeding current projections once the geology report is complete.

In addition to its operational achievements, Osceola Gold has submitted amended annual and quarterly reports, as well as an amended attorney letter, to OTC Markets. The company expects to regain its Pink Current tier status in the coming days, marking a significant milestone. Furthermore, Osceola Gold is in the process of selecting an auditing firm. Completion of an audit will pave the way for the company to eventually uplist to a higher tier exchange.

Osceola Gold also hosted a successful Investor Day on October 2nd, 2023, which has opened up additional opportunities for non-dilutive funding from private investors. The company is currently evaluating these opportunities. Additionally, Osceola Gold continues to review highly qualified candidates for key positions within the organization.

About Osceola Gold
Osceola Gold is a leading Junior mine in the mining industry, dedicated to the exploration and extraction of gold. With a commitment to operational excellence and sustainable practices, Osceola Gold aims to become a prominent player in the mining industry.

For media inquiries, please contact:

Contact:
Tracy Pizzoferrato
702-743-9276

SOURCE: Osceola Gold Inc.

View source version on accesswire.com:
https://www.accesswire.com/794919/osceola-gold-announces-successful-first-month-of-operations-and-progress-update-on-gold-yield-and-geology-report

FAQ

What are the projected yields achieved by Osceola Gold in the first 30 days of full operations?

Osceola Gold has achieved its projected yields for this period.

How much funding did Osceola Gold recently acquire?

Osceola Gold recently acquired $2M in non-dilutive funding.

What is the estimated production rate for Osceola Gold's current operations?

The estimated production rate is 2-4 ounces of gold per hour, or 20-30 ounces of gold per day.

Who has Osceola Gold enlisted to perform a subsurface scan?

Osceola Gold has enlisted the expertise of Geo Scan, Inc.

What will the forthcoming geology report provide?

The geology report will provide more detailed information on the location of the largest gold deposits.

What is the expected milestone for Osceola Gold in the coming days?

Osceola Gold expects to regain its Pink Current tier status.

What opportunities is Osceola Gold evaluating?

Osceola Gold is evaluating opportunities for non-dilutive funding from private investors.

What is Osceola Gold's current focus in terms of recruitment?

Osceola Gold continues to review highly qualified candidates for key positions within the organization.