El Maniel International, Inc Announces Significant Progress on Project Site in Papua New Guinea
31 8월 2011 - 9:14PM
Further to our press releases on August 22, 2011 and August 24,
2011, El Maniel International Inc (Pink Sheets:EMLL) is pleased to
announce significant progress in our 100 acres alluvial gold mining
project site situated at the Timun River of Enga Province, Papua
New Guinea (PNG) which has a conservative estimated gold reserve of
270,000 ounces with purity of 76.97% as confirmed by the assay
report issued by an ISO certified assaying office. This assay
report was recently released through our webcast via our website
www.elmaniel.com
Our mining team reported that they had identified a suitable
location for our base camp and earmarked the best location to erect
the alluvial gold processing plant by September 2011 for the
acceleration of pilot alluvial mining operations and once the
installation of these facilities and infrastructures are completed,
alluvial gold production will immediately commence. Our engineer
reiterated that it is possible to achieve alluvial gold production
rate of 300 to 350 ounces per month during the initial months of
pilot operations.
"During this visit, major equipments such as excavators,
bulldozers, tipper trucks, and generators were secured by the
Company through a combination of purchase as well as rental
arrangements in effort to accelerate our pilot operation plans to
produce high quality gold" according to Jamie Khoo, CEO of El
Maniel International, Inc "We are very excited with the progress of
this project and in view of the projected gold reserves of 270,000
ounces, the Company is sitting on a gold asset with a potential
value of about $500 million based on current gold prices".
El Maniel International Inc is a publicly traded company
currently focusing in the gold business domain including but not
limited to trading, prospecting, developing and expanding the
economic potential of its world class mining claims and the company
is committed in creating shareholder's value by ensuring constant
development of current and new resources in its global gold
business domain. For further information and updates, visit
www.elmaniel.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risk and uncertainties include
the Company's entry into new commercial businesses, the risk of
obtaining financing, recruiting and retaining qualified personnel,
and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company's
expectations or future events.
CONTACT: Investor Relations
El Maniel International, Inc
(212) 726-2179
ir@elmaniel.com
El Maniel (CE) (USOTC:EMLL)
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