STEUBENVILLE, OH–(Marketwired – Sep 29, 2015) – Osceola Gold Inc. (OTC PINK: PYHH) is pleased to announce that the Company has successfully solidified all government regulations for its MAV 5-G mining operation, and reports that Osceola Gold Inc.’s cutting edge specifically produced processing equipment is now approximately 95% completed.
The Company’s state of the art processing equipment has been exclusively designed and assembled by RMS Ross. The robust processing equipment, appropriately titled the deRocker, is being constructed specifically for the distinct demands of the Osceola gold claims. The equipment is capable in that environment of processing in the range of 500 tons per hour.
Osceola Gold anticipates delivery of the new equipment within the next 3-4 weeks. The Company is set to initiate processing immediately upon delivery.
“We are very pleased to have achieved these milestones. We expect that this processing equipment is going to have a huge impact on operations. We have tested thousands of yards of the terrain to successfully develop a highly efficient and productive design for this plant. We anticipate that this dynamic system will maximize our proficiency, and enhance the Operation’s bottom line,” stated Christopher Tarquinio, Chief Executive Officer, Osceola Gold, Inc.
The Company recently announced that the required reclamation bond to the Bureau of Land Management (BLM) of $476,500 had been paid for the right to proceed with operations and begin processing. Osceola has also completed all requirements necessary to be in full compliance with the Nevada Department of Environmental Protection (NDEP).
Geological reports prepared by Skookum Geological places the value of Mav G at $300-500 million. Historical reports have an average value to a FALSE bedrock at $132.00 per cubic yard.
The Company has applied for a corporate name and symbol change. As Finra concludes due process yielding a final approval, the new name and symbol are expected to go immediately into effect.
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