ASCOT MINING PLC: Re Alliance Further discussions with Mineral Hill Industries
(firmenpresse) -
ANNOUNCEMENT
London 7 June 2010: Ascot Mining Plc ("Ascot" or the "Company") (Plus Markets
ASMP & Xetra(R) AM3.DE) wishes to confirm that the Company and Mineral Hill
Industries Ltd. ("MHI"), a Canadian company listed on the Toronto Stock Exchange
(TSX.v) under the symbol MHI, are continuing with their previously announced
discussions to determine whether there is a mutually beneficial basis for
pursuing a business combination. Since this announcement on 19 May Mineral Hill
has acquired an additional Lithium property making Mineral Hill the second
largest holder of Lithium prospects in Canada.
On the 2nd June 2010 MHI announced "Following the acquisition of the "Canadian
and Martin Mc Neely Property" on May 26th, 2010, the Company has become the
second largest land holder next to Canada Lithium in Val d'Or, Quebec. The
Canadian and Martin Mc Neely property is located approximately 40 kilometers
northwest of the mining town of Val d'Or and approximately 700 meters east-
southeast of the old Quebec Lithium Mine property boundary line. In addition to
the Canadian and Martin McNeely property Mineral Hill owns three other Quebec
lithium properties (Chubb, International and Athona) consisting of 61 mineral
claims covering 2333.45 hectares."
Ascot and MHI are jointly pursuing an additional North American gold property
that is production ready and will provide an update on this shortly.
Ascot is already mining ore and has commenced initial production of gold at its
properties in Costa Rica where the Company has gold mines and a milling
operation. Ore mill feed has been secured by acquiring and rehabilitating
formerly producing concessions as well as contracting for additional ore
supplies. The Company is intensifying its efforts to maximize its existing
projects within Costa Rica and is aggressively pursuing opportunities in other
jurisdictions where it is in acquisition negotiations.
David Jackson, the CEO of Ascot Mining, says "The Company is encouraged with the
progress of these discussions with Mineral Hill as they demonstrate Ascot's
stated strategy of pursuing opportunities to broaden its property portfolio with
quality projects and to benefit from additional experienced management."
The Directors take responsibility for this announcement.
Enquiries: Damien Daly + 44 (0) 7880 55 46 47
Email: info(at)ascotmining.com
Website: www.ascotmining.com
Mineral Hill: Telephone: +1 604 685 4170
Website: www.mineralhill.com
Leseranfragen:
Ascot Mining
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