Osceola Gold, Inc. Updating Financials to Bring the Company's Reporting Status Current
Rhea-AI Summary
Osceola Gold, Inc. (OSCI) is taking steps to enhance its credibility in the OTC marketplace by submitting updated financials. CEO Tom More stated that becoming current is vital due to changing market regulations, aiming for the ultimate goal of full reporting. Recent geological analyses revealed multiple gold targets, with the potential for significant gold concentrations. The company plans to retest previously productive areas on its mining claims located in the prolific Osceola Mining district near Ely, Nevada, anticipating promising updates in the near future.
Positive
- Initiating updated financial submissions to enhance credibility in the OTC marketplace.
- Identification of numerous gold targets through recent geological studies.
- Plans to retest areas previously yielding ore between ½ to 1 gram per ton.
Negative
- None.
News Market Reaction – OSCI
In the trading session that priced this news, OSCI declined 2.96%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
STEUBENVILLE, OH / ACCESSWIRE / June 8, 2021 / Osceola Gold, Inc., "OSCI", (OTC PINK:OSCI),is pleased to announce that in an effort to become a strong and transparent contender in the public mining community, management has initiated efforts to submit updated the Company's updated financials.
Osceola Gold CEO, Tom more, states: "With regulations in the markets changing on a daily basis, we feel this is a fundamental step to effectively establish credibility in the OTC marketplace. Our primary focus is to become current, with the ultimate goal of becoming a fully reporting company."
He concluded: "Based on our assessment, our growing vision includes numerous substantial milestones, and we fully understand the need to be transparent to be taken seriously in this industry. We expect to have exciting updates to announce very soon."
As developments continue to evolve, management is committed to keep the investment community updated.
Recently Announced, The final Quantum Geological result provided a dimensional slice of the subsurface revealing mineral location and depth.
Osceola AU target points analysis provided by Quantum Geo Methodology: Osceola test point (1) - 39° 3'30.00"N 114°25'00.00"W
Osceola test point (1) - Core drill or excavate to AU contact zone approximately 34 to 40ft from surface. For best results core drill to 75ft below surface.
AU test target point radius is 25ft from center.
AU contact zone of interest: 34ft to 40ft. elevation from surface.
AU contact zone heading across center point for 65 ft mol @ 308.23 degrees
Map surface elevation 6638ft; adjust contact zone projections to onsite GPS calibrations.
Au concentrations in target area elevation should fall with-in 5-11 grams per ton, below 40ft diminishing signs until the 63-70 ft range then underlying zone has good frequency but doesn't seem strong enough to be in the hi gram per ton range and is probably closer 4 + range.
Osceola test point (2) - 39° 3'36.04"N 114°25'29.97"W
Osceola test point (2) - 39° 3'36.04"N 114°25'29.97"W
Core drill or excavate from surface to approximately 13ft, continue to the next contact zone of interest approximately 26ft from surface. The next contact zone of interest is approximately 55ft from surface. For best results core drill to 110ft below surface.
AU target point radius is 25ft from center.
AU contact zones: Surface to 13ft, - 26ft to 35ft, - 55ft to 62ft.
AU concentrations at 13ft level look very strong 15 plus grams per ton. At 26ft to 35 ft 8-13 grams per ton estimated and 55-62 ft weaker signature with small zones of AU showing buildup points along the heading.
AU contact zone heading across center point for 45 ft mol @ 75.48 degree's
Map surface elevation 6278ft; adjust contact zone projections to onsite GPS calibrations.
Summary: Our analysis indicates numerous AU targets throughout the area of interest. The better of the signatures are mapped. Core drilling or excavation and sampling are necessary to prove up the points. The area has been worked extensively but indications show that AU is present with high AU signatures giving effect to micron gold being spread through the substrates at the lower depth elevations.
Note: Quantum Geo Methodology uses map date calibrated with TRUE NORTH. Please adjust field GPS devices with WGS 84 datum. Trimble is advised for correct GPS placement. Over lays only meant for visual representation of surface parameters for the given coordinates locations at the surface.
Note: Mapping is generated utilizing Google Earth Pro, important to calibrate accordingly.
The Company recently announced that a new team has been formed, and Management expects to commence with the retesting of areas on the property that had been producing Ore in the range of ½ to 1 gram per ton.
About Osceola Gold, Inc.
Osceola Gold Inc has rights to mining claims in the Osceola Mining district in Mary Ann Canyon, which is situated about 30 miles north of Ely, Nevada. This area is one of the most prolific gold areas in the State of Nevada. The largest Nugget in Nevada was found in Mary Ann Canyon and the Osceola Mining District. Although mining is not as popular as it once was, there is still large amounts of commodities in the ground to extract. Osceola Gold Inc. has had geological tests and several different studies done, which has helped them locate gold deposits which has enabled them to concentrate on areas that have rich soil to process and mine for successful outcomes.
Forward-Looking Statement
This release includes 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 regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
RELATED LINK
http://www.osceolagoldinc.com
SOURCE: Osceola Gold, Inc.
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