www.bullionmm.com
Bullion Monarch Mining Inc. is a natural resource company that acquires mining properties to explore and develop. Bullion’s goal is to see the properties produce through joint ventures, leases, or sales. Bullion Monarch has recently undergone a reorganization and is now known as Bullion Monarch Mining, Inc. The company’s new trading symbol is BULM. Bullion believes it has excellent mining properties in Northern Nevada and throughout the Western United States. Newmont’s new, large Leeville underground mine and he East Ore Body Mine are currently producing royalty payments to Bullion. The company also acquired a 60% interest in EnShale, Inc. in 2005 (now 80%) in order to profit from the growing demand for oil by mining and processing oil shale into oil products. The Company currently has under lease 4,650 acres of oil shale property in the mahogany zone.
Bullion Monarch Acquires La Reyna Property in Mexico
Gold royalty company Bullion Monarch Mining (OTCBB: BULM) has acquired the La Reyna project in the mineral rich Sierra Madre gold belt of Northern Mexico in the state of Chihuahua, it said Tuesday.
The belt hosts multi-million ounce gold +/- silver deposits such as Ocampo, Dolores, Mulatos, and El Sauzal, as well as the Tayoltita silver deposit.
The La Reyna property is located approximately 10 km north of El Sauzal mine, which is owned and operated by NYSE-listed gold producing major, Goldcorp. The El Sauzal mine has produced over 1,400,000 ounces of gold, with low operating costs.
"The surface geology, proximity to known deposits, and regionally low cost of production combine to make the La Reyna property a promising project," the company said in a statement.
Preliminary geochemistry at the site indicates a large anomalous polymetalic altered zone, with visible surface mineralization.
The company plans to begin phase 1 exploration, including expanded geochemical and geophysical studies, to define drill targets immediately.
Bullion signed an agreement to purchase 100% of La Reyna through its Mexican subsidiary, subject to a 2% net profit royalty on the project.
The deal also gives Bullion an option to purchase a second property, known as the San Antonio mine, until May 2012.
Bullion Monarch is a gold-focused royalty company with additional interests in oil-shale technology and other assets. The company seeks to acquire existing mineral royalties or to finance mining projects that are in production or in development stage in exchange for royalty interests or a participating interest.
