Ely Gold Submits Plan of Operations for Green Springs Project
November 12, 2013
Ely Gold & Minerals Inc. ("Ely Gold" or the "Company") is
pleased to provide the following update on its 100% owned Green Springs
property located in White Pine County, Nevada. An exploration Plan of
Operations (POO) has been submitted to the U.S. Forest Service in
October, 2013. An Environmental Assessment (EA) is also in progress for
this POO. The proposed project area covers several drill targets
identified from historic drill assays, soil samples and the CSMAT
geophysical survey. Enviroscientists, Inc is coordinating the permitting
and environmental requirements for the EA. A map of the proposed
project area is available on the Ely Gold website at
Green Springs lies approximately 5 miles south of Ely Gold's Mt.
Hamilton project and 14 miles southeast of Midway Gold's ("Midway") Pan
Deposit, 7 miles southeast of Midway's Goldrock project and 10 miles
northwest of Pilot Gold's Griffon project. The Mt Hamilton Project is
being managed by Solitario Exploration & Royalty Corp. ("Solitario")
under a joint venture agreement with Ely Gold whereby Solitario owns
80% and Ely Gold owns 20%. Green Springs is owned 100% by Ely Gold and
is not part of the joint venture with Solitario. Mt. Hamilton, Pan and
Goldrock are currently in the permitting process for mine development.
The Company, in conjunction with SRK Consulting, has now compiled all
the historical data including previous work by U.S. Minerals Exploration
Company ("USMX") during the 1980's. The USMX work outlined six zones of
gold mineralization from approximately 680 reverse circulation drill
holes. Using a cut off grade of 0.7g/t Au, USMX developed and produced
from three of these mineralized zones. Historic production records, from
1988-1990, indicates that 1.1 million metric tons of ore averaging 2.1
g/t gold were mined by open pit mining and heap leaching. Gold
recoveries of approximately 80% were obtained from a relatively coarse
crush. USMX abruptly ceased production when they purchased Alligator
Ridge in 1990. Three mineralized zones remained un-mined and very little
exploration work was done on peripheral or deeper targets after the
initial discoveries. The Company has identified drill targets designed
to twin USMX holes and test upslope extensions of the existing pits
based on extensive ground sampling, mapping and the CSMAT geophysical
survey. Drilling is anticipated in fall of 2014.
"We have now compiled the extensive data packages we received with the
Green Springs acquisition and we are anxious to begin a drill program in
2014", stated Trey Wasser, Ely Gold's President & CEO. "After
identifying the historic mineralized zones and compiling the other data
we have identified multiple targets that stretch the entire length of
the property. We have decided to file the POO and institute a more
aggressive development plan than would be allowed under USFS categorical
exclusions. Completing the EA will also allow us to begin a full
Environmental Impact Study during the exploration phase".
John Brownlie, Ely Gold's Executive Chairman commented on the permitting
process, "Nevada has emerged as the premium jurisdiction for mine
development, despite a longer permitting process. We have chosen to
invest in Green Springs by beginning this process with the longer term
view of having a project fully permitted for exploration and
development. These permits will add significant value to what we believe
is a very high quality property."
This press release has been read and approved by Stephen Kenwood, P.
Geo, a director of the Company and is a Qualified Person as defined by
National Instrument 43-101.
On Behalf of the Board of Directors
Signed "Trey Wasser"
Trey Wasser, President & CEO
For further information, please contact Ely Gold & Minerals Inc. at 604-488-1104.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.