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Buscar Company announces the completion of the 43-101 report for its subsidiary Eon Discovery Inc.
Prnewswire· 2025-10-17 13:00
Core Insights - Buscar Company, through its subsidiary Eon Discovery Inc., has completed an independent NI 43-101 Technical Report for the Treasure Canyon Gold Mine, revealing a gross in-situ value of approximately $117.16 billion across Proven and Probable Reserves [1][2][6] Project Valuation - The report indicates Proven Reserves valued at $1,399.63 per ton totaling $34.55 billion, while Probable Reserves are valued at $3,346.86 per ton, yielding $82.61 billion [2] - The estimated in-situ mineralized mass is 24.68 million tons, with a continuous alluvial channel averaging 51 feet in depth over a 200-acre site [2] Resource Recovery - Resource modeling confirms approximately 27.15 million tons grading 3.15 g/t gold equivalent, containing an estimated 88,300 ounces of gold equivalent, with Proven and Probable Reserves totaling 81,200 ounces after a 92% recovery rate [3] - The proprietary Plasma Extractor System (PES) is expected to enhance recovered values by 3 to 15 times the assayed amounts, pending independent verification [3] Financial Projections - Startup capital requirements are estimated at $1.25 million, with annual operating costs of $590,000, supporting pre-tax operating margins exceeding 35% at 2025 metal prices averaging $2,650 per ounce for gold [3] Environmental and Social Governance (ESG) - The operation includes environmental reclamation efforts, such as mercury remediation and riparian habitat restoration, managed under the Lori Jane Foundation, ensuring compliance with regulatory standards [4] - The project aims to generate positive ESG outcomes, including zero-discharge water management and community job creation [4] Future Plans - Following the completion of the NI 43-101 report, the company plans to proceed to pilot-scale production in early 2026, incorporating on-site PES testing and preparation for SEC-compliant SK-1300 reporting [5] - The company emphasizes its commitment to ethical mining practices and long-term shareholder value [5][6]
Buscar Company (CGLD) and the Eon Discovery Team have partnered with Mother Lode Mining to explore the potential of the Treasure Canyon Gold Mine, supported by a cutting-edge geological report
Prnewswire· 2025-06-16 10:00
Core Insights - Buscar Company has formed a strategic partnership with Mother Lode Mining, Ltd. to enhance its mining operations at the Treasure Canyon Gold Mine, which has an estimated 3.58 million troy ounces of gold equivalent valued at $11.99 billion [1][2] Strategic Partnership - The partnership with Mother Lode Mining, effective March 31, 2025, involves Dr. John Beagles overseeing the preparation of Phase 1 NI 43-101 and SEC-compliant SK-1300 reports, which will assess various valuable minerals [2] - These reports are expected to be completed in Q3 2025 and will include site planning, financial projections, and breakeven analyses to ensure compliance and transparency [2] Technological Innovation - Dr. Beagles is developing a proprietary Plasma Extractor System (PES) that could potentially increase gold recovery by 3 to 10 times, pending independent verification [3] Geological Report - A detailed geological report by Mars Mines Ltd confirms the significant potential of the Treasure Canyon project, reclassifying the deposits as Iron Oxide Copper-Gold (IOCG), indicating a rich association of valuable metals [4] - The report recommends further exploration methods such as soil geochemistry, magnetometry, and drilling to better understand the subsurface geology and expand the site's potential [4] Next Steps - On-site work is set to commence in mid-July 2025 to support the NI 43-101 report, with a commitment to sustainable mining practices and job creation [5] - The Phase 1 reports will guide advanced exploration and the potential integration of the Plasma Extractor System [5] Company Overview - Buscar Company is a diversified holding company focused on natural resources, sustainable technologies, and pharmaceuticals, with operations managed by its subsidiary Eon Discovery Inc. [6] - The company aims to drive growth and deliver shareholder value through innovation and diversification, following a strategic evolution that included a reverse merger in 2020 [6]