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ZNext Mining Breaks Ground at Masbate Gold Project, Obtains Special Small Scale Mining Permit (SSSMP) 6-Month Extension, Provides Updates on XYZ, Bina
Tuesday April 8 11:28 PM
"We are thankful for the warm welcome from local government officials led by the Hon. Gov. Olga Kho, Provincial Environment and Natural Resources Office (PENRO) Director Vicente Gonzales and board members, local officials and townspeople of Baleno, Mapina, Cancahorao & Masbate City, all of whom have expressed their support for the mining exploration and development project initiated by PAMI-ZNEXT. We look forward to a strong working alliance with government officials, the citizens of the nearby communities, and particularly with the indigenous mountain dwellers whose cooperation and support are so vital to our success," said Vice Chairman Manolo Tecson.
XYZ GOLD PROJECT (Masbate):
PAMI-ZNext Mining also announced the renewal of its Special Small Scale Mining Permit (SSSMP), with an extension of 6 months through October 2008, which was granted by the Hon. Governor Kho. ZNext-PAMI has been granted a two-months period during which to procure and finalize the Environmental Compliance Certifications (ECC) and other documents required for the company's MPSA.
Chief Mining Officer (CMO) Edwin Tacio is working toward the completion of the ECC so that the XYZ MPSA with its EXPA 41 & EXPA 44 permits will finally be approved. An initial on-site survey conducted last week by the gold team identified areas for construction of the gold processing plant, metallurgical satellite site, general housing infrastructure and a 3 to 5 km access road passing through the pasture lease of the Magallanes-Erebete Family. The plan includes the perimeter fencing of all the surrounding areas covered by the MPSA, EXPA's 41 & 45 Claims of PAMI-ZNext Mining.
The mechanical design of the initial 100 metric ton gold processing plant (expandable to 250 metric tons) is being completed to include a floatation device for immediate recovery of all available copper. Based on the technical survey and analysis performed by CMO-Engr. Tacio, the field operations team will rehabilitate Tunnels 3 & 4, which according to all assessments to date contain the richest gold veins, and begin stockpiling ore in anticipation of the completion of the XYZ Gold Processing Plant within the next 90 to 120 days.
BINASAN GOLD PROJECT (Cagayan De Oro)
While the extremely heavy rains of a longer than usual wet season had stalled progress, the KAHIB-PAMI ZNext Mining Team has now resumed work on the mine site. To enhance the gold recovery, technicians will install a small-scale processing plant, for secondary leaching of the tailings. Additional crushing the gold ores and an enhanced-recovery floatation device will recover and separate the copper from gold, silver & other precious metals. An additional small back-up generator is also being installed. Throughout the time required to install these enhancements, the KAHIB will continue to recover gold by traditional methods.
GANGO GOLD RUSH (Bukidnon)
After further analysis and evaluation of the Batching Leach Method, the metallurgical-mechanical gold team had decided to add a floatation device to be attached to the existing gold processing plant immediately prior to the C-I-L (Carbon-In-Leach) tank. This enhancement device, which is expected to be installed within the next 30 to 45 days, will separate the copper from the gold, silver and other precious metals. By doing this, we will save in the cyanide consumption and increase the recovery of gold, silver and other precious metals. The recovered copper will be sacked and sold immediately to copper buyers.
The BENRO (Bukidnon Environment & Natural Resources Office) representative who visited the Gango Gold Rush Site determined that the on-site tailing ponds used by the OROGAPCO prior to the arrival of ZNext Mining-PAMI, required upgrading and improvement. No gold processing is permitted until the tailing ponds are corrected, by which time the mechanical team will have incorporated the floatation device into the gold processing plant.
Geologist / Mapper and OIC George Carpio, the Vice-Chairman, the Founder and the newly hired consulting Geologist who had over 20 years of experience with a specialty in diamond drilling met to discuss the plan of operation. The consulting Geologist had performed feasibility studies in the surrounding areas of Libona, Bukidnon. Project recommendation based on that study suggests rich potential, but that additional deeper and more vertical intercepts are needed. The team will start with Tunnels 1, 2, 4, 5, 7 and 15, as these tunnels had shown greater gold recovery based using prior methodologies, and based upon their proximity to the rich gold veins of a neighboring mining company.
CRISANTA COPPER-GOLD PROJECT (Eastern Samar)
CRISANTA-ESM Project Leader President/CEO Randolf Villanueva & Crisanta President Rodolfo Gaco are scheduled to visit the EMB-DENR Region 8 to update the SSMP and its ECC in order to renew its existing MPSA (Mineral Production Sharing Agreement). The claims of the CRISANTA-ESM comprise 3,590 hectares (app. 9,000 acres). The company anticipates that a physical and geological survey of the mineralized area of the subject property will begin the third week of April, 2008.
2007 Unaudited Financials of ZNext-PAMI
The accounting department has submitted the summary of ZNext's 2007 unaudited financial statements to the company's prospective USA-CPA, as recommended by legal counsel who has been working with the company to be admitted to the OTC Bulletin Board. As ZNext prepares to register as a fully reporting company, detailed audited financial statements take on a new importance. An investigative visit by counsel to the mine sites in the Philippines is being rescheduled, coincident with the now beautiful, sunny and dry weather.
"During this second quarter of 2008, we are ramping up for copper delivery, to be followed by measurable gold and silver production. As we continue to diversify and enhance our processing plants for all four of the company's gold-silver-copper mining sites, we remain enthusiastic about tapping the full potential of our properties, including the Eastern Visayas, which appear to be no less promising today than they were several years ago when they first captured our attention," said ZNext CEO Jason Piamonte.
ABOUT THE COMPANY
ZNextMining Corporation, Inc. is an international mining company engaged in the exploration and commercialization of new and underdeveloped mine sites, primarily gold and other precious and strategic metals. The company currently owns 12 mining claims in British Columbia, Canada. Additionally, under a Philippines Mineral Production Sharing Agreement (MPS) with the government of the Republic of the Philippines, ZNext Mining that owns 40% of the Pearl Asian Mining Industries, Inc, a Philippines Domestic Private Corporation, through aggregation of manpower and production among small-scale miners and indigenous peoples, intends to capitalize on economies of scale in gold and silver extraction, processing and commodities selling and trading. ZNextMining Corporation, Inc. is committed to the implementation of sustainable green technologies to achieve fiscal strength based on the principle of Profit-People-Planet. Management continues to focus on achieving profit, while conducting business with utmost consideration and compassion for people and protection of our planet and the environment.
FORWARD STATEMENTS:
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
ZNext Mining Corporation, Inc. Investor Relations: Jordan Richard Assoc. LLC Madeleine Franco, 702-256-4905 ir@jordanrichard.net www.ZNextmining.com
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