The original claim owners that had contracted the claim purchase with the publicly traded Canadian mining company HELLIX VENTURES INC. (HEL:TSX.V / HLLXF:OTC) -Vancouver received a legal release of the purchase agreement after this over extended and cash strapped mining and oil company optionee announced they were unable to meet the terms of this Arizona claim purchase of the Oro Mine that was previously know as The McDonald Prospect and The Margarita Mine. In a press release dated September 5, 2013 Hellix Ventures stated the following.
”Due to the present situation in the public mineral exploration and development markets, Hellix is making every effort to lower its cash outlays for the near term. The Company attempted to re-negotiate the property lease payments with the property owner, but were unsuccessful.” http://www.hellixventures.com/news/2013_sept_05.html
This publicly traded Canadian oil and mining company found themselves cash strapped and had to walk away from the project.
The mining claim owner informed one of our mining engineers, that designed and managed the extensive drill coring sample program on the property, that he wanted to find another buyer that will manage and operate the project from start to finish since the original claim holders will retain two points in the project until they receive an agreed amount of production/revenue. On September 20, 2013 GoodMark Capital Group, Inc. acquired the claim from the owners including the laboratory analysis assay information and possession of the physical core samples that we have in storage in Nogales, AZ. We own a 98% stake in the original 19 claim block (392.54 acres) of the project and on September 1, 2014 we added 60 additional surrounding contigious claims (1,239.6 acres) that we own 100% of the rights too all the precious metals, industrial metals and rare earth minerals. TOTAL: (1,632.14 acres / 2.55 sq miles)
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