Buscar Company Announces Strategic Evaluation Plan for Treasure Canyon Gold Mine
Rhea-AI Summary
Buscar Company (OTC: CGLD) announced a strategic evaluation plan for the Treasure Canyon Gold Mine property in Plumas County, California. The property comprises approximately 200 acres including 10 BLM mining claims within Plumas National Forest.
Planned activities include systematic review of historical records, infrastructure assessment, baseline studies, geophysical surveys, and evaluation of adjacent properties. Field work may begin as early as May 2026, subject to funding, permits, and weather.
The company withdrew a prior technical report after questioning the preparer's qualifications and is seeking a new independent Qualified Person (QP) under S-K 1300 to verify data and prepare a compliant technical report. Historical estimates are not S-K 1300 compliant and should not be relied upon. Regular updates and disclosures will follow as the company advances toward SEC reporting status.
Positive
- Property size: ~200 acres with 10 BLM mining claims
- Potential IOCG-style mineralization identified
- Targeted field activities could start in May 2026
- Company seeking an independent S-K 1300 QP to verify data
Negative
- Previously withdrawn technical report pending verification of QP
- All exploration contingent on securing funding
- Exploration requires BLM permits and environmental approvals
- Historical estimates non-compliant with S-K 1300 and unreliable
News Market Reaction
On the day this news was published, CGLD declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Management's strategic plan encompasses a systematic evaluation of historical mining records, a comprehensive assessment of existing infrastructure conditions, and the determination of appropriate pathways for potential future exploration and development activities. The Company intends to pursue preliminary exploration activities, which may include:
- Detailed site assessments and baseline studies
- Geophysical surveys to better understand subsurface geology
- Evaluation of adjacent and offsetting properties for geological context
- All exploration activities remain subject to:
- Securing adequate funding through equity financing, joint ventures, or other strategic partnerships
- Obtaining all necessary federal, state, and local regulatory approvals, including but not limited to BLM permits and environmental clearances
- Favorable weather and ground conditions, with field activities potentially commencing as early as May 2026, weather permitting
The Company is pursuing strategic partnerships to advance potential development pathways while maintaining strict adherence to environmental compliance standards and comprehensive stakeholder engagement protocols. The Company previously engaged an individual believed to be a Qualified Person (QP) as defined under S-K 1300 to prepare a technical report; however, based on subsequent information received regarding the individual's qualifications, the Company has withdrawn that report pending further verification. The Company is actively pursuing engagement of a new independent Qualified Person (QP) who meets all requirements under S-K 1300 to review and verify the previously compiled data and results. Subject to the availability of funding and regulatory approvals, the new QP will prepare a technical report summary in full accordance with Item 1300 of Regulation S-K and applicable mining industry standards.
The property has been identified as potentially hosting Iron Oxide Copper-Gold (IOCG) style mineralization, with historical records suggesting the possible presence of gold, copper, silver, and other metals. However, investors are cautioned that historical estimates and production records are not compliant with S-K 1300 standards and should not be relied upon as indicators of current mineral resources or reserves as defined under S-K 1300.
The Company will provide regular updates regarding the progression of these initiatives, including matters related to its ongoing audit process as it advances toward full SEC reporting company status. All disclosures will be made in accordance with applicable securities laws and regulations.
Forward-Looking Statements Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact, including statements regarding the Company's future exploration plans, anticipated timing of activities, potential mineralization, ability to secure funding, obtaining regulatory approvals, retention of qualified persons, preparation of technical reports, advancement toward SEC reporting status, and strategic partnerships, are forward-looking statements.
These forward-looking statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by these statements. Factors that could cause actual results to differ materially include, but are not limited to:
- Inability to secure adequate funding for exploration activities
- Delays or inability to obtain required regulatory approvals
- Adverse weather conditions or natural disasters affecting site access
- Geological uncertainties and exploration risks
- Commodity price volatility affecting project economics
- Changes in federal, state, or local regulations governing mining activities
- Environmental compliance costs exceeding estimates
- Challenges in achieving full SEC reporting company status
- Potential delays in audit completion
- Market conditions affecting the Company's securities
- Competition for qualified personnel and contractors
- Title uncertainties or challenges to mining claims
- Infrastructure limitations or unexpected rehabilitation costs.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Investors are cautioned not to place undue reliance on these forward-looking statements.
CONTACT:
Alexander Dekhtyar,
CEO Buscar Company,
office@cgld.email
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SOURCE Buscar Company (CGLD)
FAQ
What did Buscar (CGLD) announce about the Treasure Canyon Gold Mine on November 5, 2025?
How large is the Treasure Canyon property that Buscar (CGLD) is evaluating?
When could Buscar (CGLD) begin field exploration at Treasure Canyon?
Why did Buscar (CGLD) withdraw its previous technical report for Treasure Canyon?
Does Buscar (CGLD) claim confirmed mineral resources at Treasure Canyon?
What regulatory approvals does Buscar (CGLD) need before exploration at Treasure Canyon?
