Oct 29 2012
American International Ventures, Inc. is announcing the outcome of its First Annual Mining Summit held in mid-September, 2012 in Reno, Nevada and recent events.
First and foremost, the entire Board of Directors of AIVN, wish to thank the invited guests, investors and company officers and employees of AIVN, that joined the board in its first visit to the Golden Eagle Mines, and tour of the mining site currently under development by AIVN. Mike King of Princeton Research stated: "the Board of AIVN was very impressed and so was I, especially with how much the company has accomplished in such a short timeframe. The progress at the Golden Eagle is amazing."
In addition, the biggest accomplishment of AIVN to date was the board agreed to pursue the offer for AIVN to operate one of the most valuable gold mining projects in Mexico and partner with the mines owners to set up a commercial mining operation with La Madre S.A. de C.V. Within the next 3 months AIVN will be optimizing the existing surface mining operations. The Mexican Mining Consortium established La Madre to facilitate the contract signed on October 1, 2012 where AIVN will establish a new placer mining operation to mine and sell the precious metal recovered from the property. The start date, under the contract terms, has been scheduled for October 15, 2012, and the AIVN team is now on site and equipment is being imported for the operation from Nevada. Plans for the next three months will be to establish a pilot program under the direction of La Madre's geologist, in order to start building the new stationary wash plant by spring that will run 200 tons per hour. The pilot program will be reflected in a new feasibility study with the new classification and recovery rate of no less than five hundred tons of material per day for the first 90 days. This pilot program whose location was discovered in a geo scientific study performed in 2010 was included in the NI 43-101 technical report issued later that year.
Jack Wagenti, Chairman of the Board, stated: "This is the final step in our master development plan and we are very excited to have this opportunity made available by our good friends in Mexico. The overall opportunities for AIVN in Mexico are endless and this newest mining venture is without question going to help us exceed our revenue projections for 2012-2013."
Brandon Nash, B. Sc. Geology and CEO of AIVN, met with the owners of the Mexican Mining Consortium in Baja California, with their geologist and attorney to tour the mine site and verified the deposits for the pilot program. Mr. Nash took his own samples to assay using XRF at the site. These new samples taken during the site evaluation visit surprised the mine owners, when the assays determined 70% free milling gold, 15% platinum, 10% silver and other trace minerals, when tested using the company's x-ray spectrometer technology.
All site prep, roadwork and equipment installation work will be performed and permitted by AIVN. The contract calls for AIVN and La Madre to split fifty/fifty the production profits with the Mexican Mining Consortium for 17 years.
Source: http://www.aivn.co