Buscar Company is putting up for sale its wholly-owned Beverly Hills, California, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Buscar Company (OTC: CGLD) is putting up for sale its wholly owned subsidiary Gold Mining LLC for $3,500,000 that owns 30 unpatented claims consisting of 600 acres in Plumas County. The Plumas County claims were staked, recorded, and then moved into a wholly owned subsidiary to facilitate the sale and to keep them separate from the projects the Company is currently developing.
The Plumas County claims were identified based on a regional analysis of soil and outcrop sampling done by various agencies, including the United States Geological Survey (USGS), a fact-finding research organization and scientific agency of the United States government, specializing in natural resources nationwide. The Company also had a geological report prepared by Strategic Metals, LLC, which has also completed lab tests of the samples to confirm their mineral composition, including gold, silver, and other precious metals. The regional analysis together with the ground surveys and the data confirmed by Strategic Metals, LLC identified the claims as an area that historically contained a high concentration of gold, silver, base, and strategic metals. The analysis of the samples conducted by Strategic Metals, LLC showed approximately 6.45 ounces of gold per ton and approximately 22.5 ounces of silver per ton. Although the evidence of precious metals and minerals in the tested samples is not indicative of the entire target area, it certainly proves that gold and silver do exist within prospect boundaries. Additional testing and core drillings are required to determine the grade and depth of the ore body within the claims.
The Company is excited about this opportunity in a prolific gold production zone in the Sierra Nevada Mountains, known as the “Mother Lode” of California. The abundant geology of the area is historically proven by existing rich gold mining sites nearby, which leads us to believe that all 600 acres of the Plumas County claims are the first-priority target for exploration and development.
https://www.globenewswire.com/news-release/2022/10/11/2531590/0/en/Buscar-Company-is-putting-up-for-sale-its-wholly-owned-subsidiary-Gold-Mining-LLC-for-3-500-000.html