Post by raidermike99 on May 6, 2005 12:26:24 GMT -5
SGGM and Nevada Vermiculite Announce the Potential of the Montana Mining Claims, with Background and Information
Friday May 6, 1:14 pm ET
LAS VEGAS, May 6 /PRNewswire-FirstCall/ -- St. George Metals, Inc. (Pink Sheets: SGGM - News), and Nevada Vermiculite, LLC ("NVLLC") announce an educational guide to NVLLC's Montana mines and its claims thereto. Bill Blomgren, President of Nevada Vermiculite states, "Vermiculite is an industrial mineral that is widely used in a number of products and applications. The United States traditionally has been the largest consumer of vermiculite and until the early 1990's was the world's largest producer of the mineral. There is a demand for premium sized vermiculite within the U.S. as well as around the world today."
The scarcity of premium sized vermiculite concentrates and the absence of a source of vermiculite in the Western United States forms the basis of a significant business opportunity. The deposit of vermiculite ore located at Skalkaho Mountain, near Hamilton, Montana, contains a large amount of recoverable vermiculite that can be processed into vermiculite concentrate projects in all commonly used size ranges. Skalkaho Mountain vermiculite ore contains no asbestos or deleterious impurities.
NVLLC is the priority owner of the claims associated with the Skalkaho Mountain (Hamilton) project. NVLCC is merging into St. George Metals.
William Haseltine, President of SGGM, states "We couldn't be more thrilled than to have the partners we will have with Nevada Vermiculite upon closing of this transaction, and to both assess and mine the powerful vermiculite opportunity we have right before us. Below, we've laid out an information structure for both our current and future shareholders."
Location and Geology
NVLLC's deposits are located on 96 unpatented lode and mill site mining claims. The claims cover some 1,750 acres and are 10 air miles due east of Hamilton, Montana on the western flank of Skalkaho Mountain. Access to the property and shipment of processed vermiculite is via an all-weather road, 26 miles to Victor Crossing, Montana, where an office and loading area is located next to a line of the Montana Raillink Railroad. The claims are situated at elevations around 7,000 feet above sea level within the Bitterroot National Forest near the crest of the south end of the Sapphire Mountains.
Ore Reserves
The most recent estimate of proven ore reserves at Skalkaho Mountain is 6.5 million tons. The previous owner of the Skalkaho Mountain mining claims, in order to demonstrate the safety and feasibility of this project, has already performed significant work on an Environmental Impact Statement. The Company intends to draw on data that has already been produced and to develop additional information in order to comply with all State and Federal mining regulations."
Potential Market For Vermiculite Products
The initial marketing strategy for Skalkaho Mountain vermiculite would be to supply industry standard concentrate products to established exfoliation plants and manufacturing facilities. Skalkaho Mountain vermiculite will have at least these essential qualities:
* The presence of premium sized vermiculite in the ore body
* No chemicals used in processing
* Absence of asbestos or respirable silica
* Freight advantage due to potentially being only source of
vermiculite west of the Mississippi
Forward-Looking Statements:
Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
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Source: St. George Metals, Inc.
biz.yahoo.com/prnews/050506/sff032.html?.v=7
Friday May 6, 1:14 pm ET
LAS VEGAS, May 6 /PRNewswire-FirstCall/ -- St. George Metals, Inc. (Pink Sheets: SGGM - News), and Nevada Vermiculite, LLC ("NVLLC") announce an educational guide to NVLLC's Montana mines and its claims thereto. Bill Blomgren, President of Nevada Vermiculite states, "Vermiculite is an industrial mineral that is widely used in a number of products and applications. The United States traditionally has been the largest consumer of vermiculite and until the early 1990's was the world's largest producer of the mineral. There is a demand for premium sized vermiculite within the U.S. as well as around the world today."
The scarcity of premium sized vermiculite concentrates and the absence of a source of vermiculite in the Western United States forms the basis of a significant business opportunity. The deposit of vermiculite ore located at Skalkaho Mountain, near Hamilton, Montana, contains a large amount of recoverable vermiculite that can be processed into vermiculite concentrate projects in all commonly used size ranges. Skalkaho Mountain vermiculite ore contains no asbestos or deleterious impurities.
NVLLC is the priority owner of the claims associated with the Skalkaho Mountain (Hamilton) project. NVLCC is merging into St. George Metals.
William Haseltine, President of SGGM, states "We couldn't be more thrilled than to have the partners we will have with Nevada Vermiculite upon closing of this transaction, and to both assess and mine the powerful vermiculite opportunity we have right before us. Below, we've laid out an information structure for both our current and future shareholders."
Location and Geology
NVLLC's deposits are located on 96 unpatented lode and mill site mining claims. The claims cover some 1,750 acres and are 10 air miles due east of Hamilton, Montana on the western flank of Skalkaho Mountain. Access to the property and shipment of processed vermiculite is via an all-weather road, 26 miles to Victor Crossing, Montana, where an office and loading area is located next to a line of the Montana Raillink Railroad. The claims are situated at elevations around 7,000 feet above sea level within the Bitterroot National Forest near the crest of the south end of the Sapphire Mountains.
Ore Reserves
The most recent estimate of proven ore reserves at Skalkaho Mountain is 6.5 million tons. The previous owner of the Skalkaho Mountain mining claims, in order to demonstrate the safety and feasibility of this project, has already performed significant work on an Environmental Impact Statement. The Company intends to draw on data that has already been produced and to develop additional information in order to comply with all State and Federal mining regulations."
Potential Market For Vermiculite Products
The initial marketing strategy for Skalkaho Mountain vermiculite would be to supply industry standard concentrate products to established exfoliation plants and manufacturing facilities. Skalkaho Mountain vermiculite will have at least these essential qualities:
* The presence of premium sized vermiculite in the ore body
* No chemicals used in processing
* Absence of asbestos or respirable silica
* Freight advantage due to potentially being only source of
vermiculite west of the Mississippi
Forward-Looking Statements:
Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
--------------------------------------------------------------------------------
Source: St. George Metals, Inc.
biz.yahoo.com/prnews/050506/sff032.html?.v=7
