INYO COUNTY, CALIF. FEBRUARY 19, 2019 — Black Swan Advisors (BSA) Announces Selection of Practical Mining of Elko, Nevada Attn Mark Odell as Mine Engineer for new Radcliffe Mine Plan. Development of new portal expected to start summer 2019.
BSA/BMC today announced the selection of Practical Mining (Mark Odell- “Odell”) as the project Mine Engineer for the development of a Mine Plan for a new portal at Radcliffe Mine. The new workings are being modeled based on 128 drill holes and related assay results. According to Odell, “My block model shows a likely resource of 155,000 ounces of gold inside the Mine Plan area, which has an average grade of .403 OPT. This Mine Plan will meet the requirements of the Inyo County approved Conditional Use Permit (CUP) for the project. The CUP covers 135 acres of patented land and is valid thru the end of 2023. We should have a completed Mine Plan with associated RFP for underground contractors by mid-March 2019.” Current drafts of the Mine Plan are available by requesting them from McLaughlin at cjm(at)blackswanadvisors(dot)net
Charles McLaughlin (McLaughlin), President of BSA, further stated “We have commenced interviews with underground mining contractors. Our plan is to commence mine development in the May/June time period and complete the mine development in 24 to 30 months. We believe that the close concentration of the gold ore in this portal will facilitate such a production schedule. We will be accepting the interest of contractors until the end of February to allow for the completion of the Mine Plan. We plan to also have a valid RFP prepared by Odell and use that document to seek cost estimates from the mining contractors.” Any underground contractors interested in being considered for this work are invited to contact McLaughlin at cjm(at)blackswanadvisors(dot)net.
The Odell Mine Plan covers mine development with haulage to the on-site crushing and processing area. The crushing and on-site processing are still being planned by the metallurgical engineer. Crushing and gravity separation are allowed under the existing CUP.
Radcliffe mine is in Panamint Valley area of Inyo County, Cal. It is also close to the California/Nevada border in the vicinity of Beatty, Nevada.
Additionally, McLaughlin observed, “We have also recently completed additional sampling in adjacent, historical workings, and intend to use that data to expand the 43 101-resource estimate for Radcliffe. The latest 43 101 for Radcliffe was completed in 2012 based on 220 drill holes and assay results. That 43 101 had an “Indicated” resource of 210,000 ounces of gold. The data for the new sampling is being reviewed to determine how much the resource can be increased, and to determine if the resource can be upgraded from “Indicated.” Since this additional sampling was done in historic workings less than 500 feet from the new portal any expansion in the resource should be able to be added to the Mine Plan being prepared by Odell, and therefore added to the mine development from the new portal.” McLaughlin also stated that new underground drilling will be commenced to further define the additional resource.
Finally, McLaughlin re-emphasized that BSA and BMC are seeking additional gold mine acquisitions and/or merger opportunities in the western US and western Canada. McLaughlin observed “Our mines have no partners, no debt, and no royalties, making us an attractive financial partner for any business combination. We are particularly interested in opportunities where additional gold resources and mine management are part of the package. An orientation towards mine development over exploration will be a strong plus. Our strong balance sheet will help in raising mine development funds for both companies.” Interested parties should contact McLaughlin at 949.351.3943.