Attached files
| file | filename |
|---|---|
| 8-K - GOLD HILLS MINING, LTD. | v208644_8k.htm |
Ardent
Mines Limited (OTCBB: ADNT) to Acquire Brazilian Gold Company with Four
Significant Properties
Jan. 18,
2011 (PR Newswire) —
NEW YORK,
Jan. 18, 2011 /PRNewswire/ — Ardent Mines Limited (OTC Bulletin Board: ADNT) has
agreed upon binding and exclusive terms to acquire Gold Hills Mining Ltda., a
Brazilian corporation which owns mineral rights on four properties located in
Northeastern Brazil, comprising a total area of approximately 3,500 Hectares,
collectively to be known as the "Serra do Ouro" project.
The Gold
Hills properties are in a gold bearing shear zone, which hosts a 14 km trend of
highly mineralized veins, with areas of gold grades in the 10 gr/MT range,
underground galleries (built by the CPRM, an agency of Brazil's Ministry of
Mines), shafts, and gold-bearing tailings with average grades in the 1 – 3 gr/MT
range, yet to be fully evaluated. Gold Hills has secured all mineral rights, and
has conducted preliminary geochemical and geophysical work on this
area.
Mr.
Luciano de Freitas Borges, an experienced geologist and former National
Secretary of Mines of Brazil serving as a Board Member of Ardent, strongly
supports the acquisition: "The Geology of this area has very high potential. In
addition to historical information derived from prior gold production developed
by artisanal miners as well as exploration work previously undertaken by the
Brazilian Government, recent geochemical and airborne geophysical surveys
provide strong indications that the main vein zone may contain over 1 million
ounces of gold and possibly more. The geophysical data also strongly suggests
the existence of ancillary veins parallel to the already identified main gold
bearing zone with the same geophysical signature," said Mr. Borges.
The Gold
Hills properties are located in Teixeira County, State of Paraiba, and Itapetim
County, State of Pernambuco. As per the arrangement with Gold Hills Mining
Ltda., Ardent will engage in a new survey drilling program during the first
12 to 15 months after the closing of the acquisition, which is expected to
occur in March of 2011.
Mr.
Leonardo Riera, Ardent's Chief Executive Officer, added: "The acquisition of
these valuable mineral rights, where gold extraction was previously performed,
is a unique and extraordinary opportunity for Ardent Mines. We intend
to continue our efforts to identify and acquire other valuable assets for
our shareholders."
About
Ardent Mines Limited:
Ardent is
positioning itself to develop mining operations throughout the world.
Ardent is an exploration stage company, and is presently researching and
negotiating acquisitions, acquiring financing and assembling staff.
Forward-Looking
Statements
This
press release contains "forward-looking statements" as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These statements are based
upon our current expectations and speak only as of the date hereof. These
forward-looking statements are based upon currently available competitive,
financial, and economic data and management's views and assumptions regarding
future events. Such forward-looking statements are inherently uncertain. Our
actual results may differ materially from those expressed in any forward-looking
statements as a result of various factors and uncertainties. Ardent cannot
provide assurances that any prospective matters described in the press release
will be successfully completed or that Ardent will realize the anticipated
benefits of any transactions. Various risk factors that may affect our business,
results of operations and financial condition are detailed from time to time in
the Current Reports on Form 8-K and other filings made by Ardent with the U.S.
Securities & Exchange Commission. Ardent undertakes no obligation to update
information contained in this release.
SOURCE
Ardent Mines Limited
Source:
PR Newswire (January 18, 2011 - 9:16 AM EST)
News by
QuoteMedia