Exploration activities for new untapped precious mineral ore reserves continues to remain strong in Nevada.
While the values of both precious and industrial metals are depressed compared to values a year ago, industry experts believe they will bounce back and exceed historical levels. The cost of mining varies greatly as well, and is somewhat contingent upon market conditions along with the natural topography of the mine and the specific resources discovered and at what depth.
Geologists and other industry experts familiar with this property, including those who previously conducted mining activities in the region and based on geological studies in the area, believe this particular area promises to be a most promising location for high yield veins of gold, silver, and copper ore. Some have long speculated that there is as much as one to two million ounces of gold ore in these claims. In addition, there are several large areas that have been identified where heap leach mining can commence relatively easily.
Following the analysis of the results from the proposed drilling, Humboldt Mining Company will review its options of whether to continue its exploratory drilling, including blocking out reserves that may be identified or merging or selling to another mining entity capable of taking the company to the next phase of development.
It should be noted that by nature investments in exploratory mining companies is a speculative venture and there are a myriad of factors controlling the outcome in addition to the presence of raw ore, including governmental permits and economic conditions in the mining sector. Humboldt Mining Company, Inc., its officers, directors, consultants and investors make no representation as to the actual value of the claims it controls or the potential for discovering precious mineral deposits or its ability to ultimately extract them.