Mascot Mines Logging to Finance Drilling and Other Projects
10 Abril 2006 - 10:34PM
Business Wire
Mascot Mines, Inc. (Pink Sheets:MSLM) will be concluding logging
operations on its patented mining claims in the Denver Creek area
southeast of Pinehurst, Idaho. The logging commenced in the late
summer of 2005 and will be concluded in May or June, 2006.
Selective logging done by Miller Logging of Pinehurst has netted
approximately $60,000.00 for Mascot Mines. The Board of Directors
of Mascot Mines is pleased with its position as a "responsible
steward of the lands" in its approach to the management of surface
resources on Mascot properties. Selective logging practices has
maintained and not disturbed new growth that resulted from careful
logging and reseeding accomplished in the mid 1990's, when the
property was last logged. Existing roads and skid trails were used
and surface disturbance was kept to a minimum during the current
operations. The proceeds of the logging operations will now be used
to finance drilling operations on the Denver Creek patented claims
and to begin preliminary work on other projects being considered.
U.S. Bureau of Mines exploration drilling and surface trenching and
sampling in the 1940's in and around the Little Pittsburg mine had
intercepts and samples with anomalous gold values. Mascot Mines
plans to diamond drill from the surface to verify the USBM data and
add information to our knowledge of the area. The gold intercepts
and samples are believed to be in stratigraphy similar to that
found in the Prichard-Murray areas of Shoshone County. In other
news, Mascot Mines, Inc. announces the retirement of longtime
Secretary-Treasurer and past-Director Ronald Eggart. Mr. Eggart was
one of the original founders of Mascot Mines in the early 1950's.
Ron, a well known CPA in the Silver Valley, has been the chief
bookkeeper for Mascot Mines and other organizations for many years.
One of his favorite sayings is "I've been married to Mascot Mines
longer than to my wife." Mr. Eggart's advice will continue to be
sought and valued. Kimberly Samuelson was appointed by the Board of
Directors to fill the vacancy left by Ron Eggart's retirement. Ms.
Samuelson has significant bookkeeping and business experience in
the Silver Valley with Silvertip NAPA stores and other civic
organizations. Cautionary Statement This news release may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. Forward-looking
statements are inherently subject to risks and uncertainties, many
of which cannot be predicted with accuracy, and some of which might
not even be anticipated. This news release is neither a prospectus
nor an offer to sell securities or stocks in the company. It is
intended for informational purposes only.
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