Archive for the ‘Auric Mining Corp. AUMY’ Category

Auric Mining Corp. (AUMY) Announces Plans to Renovate Future Head Office and Operations Facility

Tuesday, May 31st, 2011

Auric Mining Co. today announced that it has received a tender of $250,000 from Krolyk Construction Inc. and advanced an initial deposit to upgrade a leased facility, which was previously occupied for more than ten years by Noranda Inc. as its Geological field office in North Western Ontario.

The building will be utilized as the company’s head office, repair depot, and storage facility for its operations. Situated on 7 acres, the building has over 10,000 total square feet of useable space and contains a Core Lab area which was originally set up by Noranda Inc., which was one of the largest mining and metals companies in the world with operations in 18 countries.

According to the press release, Auric’s planned new operations base is located in the center of one of the most prolific gold producing regions in North America, if not the world. The surrounding industrial mining area is currently being increased for access to large transports. Furthermore, numerous industry leading gold producing corporations are currently based within a 300 km area.

The company also plans to build an additional building for storing its mining records and core samples.

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Auric Mining Corp. (AUMY) Announces Agreement to Acquire Gold and Silver Mine in Colorado

Tuesday, May 31st, 2011

Friday after the closing bell, Auric Mining Co. announced it has signed an agreement with Homestead Colorado Gold Corp., located in Brighton, Colorado, to purchase its mining property known as “The Little Prince Mine” and a surrounding claim known as “Nettie Morgan” located near Leadville, Colorado.

Auric Mining has agreed to a total purchase price and investment of $1.5 million for the property over a 60-month period with no interest to be accrued. The purchase price for The Little Prince Mine and a 15-acre property known as Nettie Morgan located at the east end of the Big Six is $240,000. Payment will be in the form of $4,000 per month commencing on June 15th and continuing for 60 months. As part of the agreement, Auric has agreed to invest $1.26 million in the property in order to render the mine operational. Auric has also agreed to pay Cook and Cooper, LLC a 2% net smelter royalty for 10 years after the mine becomes operational.

The Little Prince Mine, originally part of the Big Six group, has been a haven for miners as a gold and silver producer with a long history of exploration and production since the late 1880s. The Little Prince Mine, originally part of the Standard Metals Group of mines, is situated on the Northwestern slope of Breece Hill, Leadville, located in the extremely rich silver belt in Colorado. Past production results and historical data indicate that the mine can be expected to produce between .005 – .27 per ounce of gold per ton, and from 1.8 to 14.7 per ounce of silver per ton, making it very attractive economically based on current prices of the metals.

Auric Mining Co. also announces that it has officially launched its new website at www.auricgold.com

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Auric Mining Corp. (AUMY) is “One to Watch”

Friday, May 27th, 2011

Auric Mining Corp. is an investment and management company focused on mining and natural resources projects. Auric Mining has searched through numerous databases of private and public natural resources companies that have substantial findings already proven and intends to either purchase, joint venture or invest in the companies or projects that meet its criteria.

Auric Mining CEO and President Michael Burke leads the company with expertise in technological integration, mining and geophysical exploration, finance, project and corporate development as well as a successful track record of extracting shareholder value. He has founded and served as the president of numerous companies, most notably building World Star Holdings Inc. into a multi-million dollar enterprise.

The Dolly Gold Showing lies in a major known gold resource area with a history of gold mining over the past 50 years. In 1984, assays from 0.13 oz. over 2.4 meters to 1.28 oz. over 0.3 meters were recorded. The best gold assay recorded was 2.48 oz. with no recorded width. Using current technology and the latest geology expertise, Auric Mining will focus on trends and process information that were previously missed.

The area near Auric Mining’s Dog Lake Project has shown promising signs of concentrated kimberlite indicators, a favorable geological formation for diamond exploration, as well as numerous deposits of small diamonds within metamorphosed Archean basement rocks. Now that the unusual rocks that host these occurrences have been fairly well-characterized and ongoing overburden stripping is exposing new bedrock, finding diamonds in the area is becoming an almost everyday occurrence.

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