LEXINGTON, Ky.,-- /PRNewswire-FirstCall/ -- VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) has announced one of their operating subsidiaries, VPS Holdings, LLC (VPSH) has acquired a Lease-Purchase Option Agreement for the Treasure Gulch Gold Mine in Prescott, Arizona from a privately held entity. Unverified historical due-diligence material originally obtained from Western Sierra Mining Corp, Inc. (WSRA, a public company which is the owner of the subject property) estimates Proven and Probable Gold Reserves in excess of $35,000,000.00 using a valuation of $800.00 per ounce.
The Treasure Gulch Gold Mine is located south of Prescott, AZ within the Hassayampa District, and is composed of three claims. It is an old mine that produced gold ore from a narrow portion of the vein and from underground open stopes. The previously worked vein is 6' to 12' in width and the adjacent Zero extension, also a part of this property, is from 2' to 5' in width.
VHGI is currently conducting due-diligence on the Treasure Gulch Gold Mine property and pending results hopes to announce details of a proposed mining development schedule. Details under consideration include a laboratory analysis of surface ore deposits, an evaluation of the underground mine workings and an evaluation of refining and processing options subject to the results of these tests and analysis.
VHGI acquired the Lease-Purchase Option for payments of $50,000, a 1% production royalty on gold produced from the leased property, and such other additional consideration, including equity in VHGI as the parties may mutually agree in good faith following completion by VHGI of its due diligence on the lease and the leasehold interest.
SOURCE VirtualHealth Technologies, Inc.
 |
All comment postings require your name and email address for user verification only. Your email address will not be used or distributed for any other purpose.
No advertising is permitted and will result in the post being deleted and/or banning. Please click "REPORT" to report any inappropriate posts. blog comments powered by Disqus
Permission to Reproduce:
Unless otherwise stated, the copyright and similar rights to all material published on this website are owned by The Manufacturers Group Inc. DBA Manufacturing & Technology eJournal( mfrtech.com ). Reproduction of any article in print, electronic or any other form must acknowledge mfrtech.com as the Source and include a link to http://www.mfrtech.com
 |
