GoodMark Capital Group, Inc. has completed a gravity concentration test run of material from the mine where we were successful in producing Gold from the Ore by extraction using just water without the need for chemicals. We are in the process of commencing 60 X 1,000 ton pilot plant studies from the material just lying on the ground from the decades of testing that has been historically performed on the property. These material run studies will allow
us to fine tune our extraction process to strive to hit our goal of achieving a $300.00 an ounce extraction cost while yielding what we have identified as a projected NET of 6 million dollars worth of gold from the ore that has been dug out of the formation and stockpiled on the property. This property has historically been awarded equipment permitting twice in its testing history and the property has already had a reclamation bond issued on it as recently as 2012 through the application process with the United States Forestry Service. This bond was required for the last rotary drilling testing program that has been performed on the mine.
These approvals represented a giant leap forward and historic milestones that may make the total permit process and the development curve to put the mine into full production greatly compressed. Our mining engineers have stated with confidence we should be able to start our small mineral waiver notice level start of production and start net smelter revenue in approximately 6 to 8 months with full ramp up to full production as the BLM approval time frame allows.
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