NEW YORK, NY, July 29, 2021 (GLOBE NEWSWIRE) -- Black Mountain Gold USA Corp. (OTCQB: BMGCF) (TSXV: BMG) (FSE: 9WW) is confidently moving forward with its Exploration Plan of Operation on the company’s Mohave Gold Project in the Black Mountains of Mohave County, Arizona—and for good reason. After taking over the project in mid-2020 via a joint venture option agreement, Black Mountain Gold (BMG) was born, and the company’s shareholders welcomed a leadership team with a proven track record of success.
After all, the team that is now centrally focused on leading BMG into the future is no stranger to building companies and creating successful exit strategies. It’s much the same team that spent the last four years positioning Millennial Lithium Corp. (TSXV: ML) (OTCQX: MLNLF) (FSE: A3N2) as a desirable, advanced-stage lithium company, and then, in turn, negotiated the company’s acquisition in a $353-million all-cash deal that was announced earlier this month.
Instrumental in the development and subsequent acquisition of Millennial Lithium Corp. (Millennial) were three of BMG’s four current directors, including BMG’s President and Chief Executive Officer (CEO), Graham Harris (Millennial Founder and Chairman, Board of Directors), Farhad Abasov (Millennial President, CEO and Director), and Dr. Peter J. MacLean (Millennial Senior Vice President-Technical Services). BMG’s directors negotiated an appealing, shareholder-friendly deal that offered a significant premium of about 21 percent over the 20-day average closing price for Millennial’s common shares on the TSX Venture Exchange.
It’s an acquisition deal that BMG Director and Millennial CEO, Farhad Abasov, said provided a very attractive opportunity for Millennial’s shareholders to realize full liquidity at a substantial premium to the current share price. “The arrangement firmly validates the efforts of the Millennial team in the past four years.”
Now, the team that makes up the Board of Directors (BoD) at BMG, which also includes Luke Norman, a seasoned growth executive with 20 years of experience in the venture capital markets, turns its attention from lithium to gold. The focus is on developing BMG into their next resource company success, and their stated vision is to identify and acquire gold assets amenable to cost effective open-pit mining and heap leaching. According to BMG’s BoD, they will execute their strategy with an aggressive exploration and development program designed to fast track the project to potential production, including an expected 5,000-meter drilling program in 2021.
There are a host of advantages that make the Mohave Gold Project an ideal property for this credentialed group and their performance history in the industry to take on as its next endeavor. First and foremost, the Mohave Gold Project, which encompasses 160 claims on about 3,200 acres, is ideally situated in mining-friendly Arizona in the well-known Walker Lane Gold Trend alongside numerous other producers. The project is host to high-grade and widespread anomalous gold-in-soil geochemistry, and there are multiple historic gold mines in the project area that are surrounded by mineralization and are open along strike and at depth.
Next, because previous development activity has outlined gold mineralization that is potentially amenable to “open pit mining” and “heap leaching,” further development of the Mohave Gold Project could result in lower, more cost-effective operations than usual. Additionally, the previous owners invested approximately $12 million in the project while preparing for mining operations, including mining infrastructure, so BMG’s continued development with the necessary infrastructure already in place on the property, should expedite operations and lead to lower capital expenditures and operating expenses on the project.
Finally, the potential upside on the project is extremely favorable. This year BMG performed channel sampling that has already confirmed widespread gold mineralization, including 53.8 g/t Au and 94.2 g/t Au over 2.8 meters and 0.71 g/t Au over 24.8 meters, which corroborates other historic sampling done on the property. These results add to an already extensive exploration database that BMG can build upon, including rock chip sampling, soil geochemistry and drilling at principal prospects.
BMG is in very capable hands as it moves into the future and develops the Mohave Gold Project. The company’s Board of Directors has a combined 103 years of experience across a range of necessary industry-related fields, which makes this group a “dream team” of sorts.
Graham Harris, CEO and Director of BMG, has over 40 years of experience in the finance industry where he has directly raised over $400 million in development and venture capital for both public and private companies.
Farhad Abasov joins BMG’s BoD with 18 years of experience in founding and managing natural resource companies. He, too, has a proven track record of raising funds as he’s directly responsible for raising over $500 million for public and private companies in both the energy and mining sectors.
Dr. Peter J. MacLean brings over 25 years of exploration and development experience in North America, South America, and Africa to the company’s BoD. He has worked extensively on base metal and precious metal projects throughout the Americas with various companies.
Luke Norman joins this talented group of directors with 20 years of expertise in mineral exploration, finance, corporate governance, M&A, and corporate leadership. Norman has also raised more than $300 million for both public and private companies predominantly in the resources sector.
BMG shareholders can be nothing but confident as the project develops over the coming years especially with the knowledge that this team is thoroughly tested and its broad range of experience makes them the perfect fit for developing the Mohave Gold Project and positioning BMG as a player in the mining sector.
To learn more about Black Mountain Gold, visit: https://blackmountaingoldusa.com or contact Investor Relations at (604) 662-8184 or email info@blackmountaingoldusa.com
About Black Mountain Gold USA Corp.
Black Mountain Gold USA Corp. is currently in the exploration and development stage on its Mohave Gold Project in the Black Mountains of Mohave County, Arizona. Black Mountain Gold has the option to earn 90 percent of the prospective Mohave Gold Project located in the Walker Lane Gold Trend extension into Arizona. Past exploration and development history indicate potential for an open pit heap leach gold mining and production operation on the 3,200-acre project.
About Stock Market Media Group
Stock Market Media Group is a news and media content development IR firm offering a platform for corporate stories to unfold in the media with press releases, feature news articles, research reports, corporate videos, and radio-style CEO interviews.
This article was written based on publicly available information. Stock Market Media Group may, from time to time, include our own opinions about the companies, their business, markets and opportunities in our articles. Any opinions we may offer about any of the companies we write about are solely our own and are made in reliance upon our rights under the First Amendment to the U.S. Constitution, and are provided solely for the general opinionated discussion of our readers. Our opinions should not be considered to be complete, precise, accurate, or current investment advice, or construed or interpreted as research. Any investment decisions you may make concerning any of the securities we write about are solely your responsibility based on your own due diligence. Our publications are provided only as an informational aid, and as a starting point for doing additional independent research. We encourage you to invest carefully and read the investor information available at the web site of the U.S. Securities and Exchange Commission at www.sec.gov, where you can also find all Black Mountain Gold’s filings and disclosures. We also recommend, as a general rule, that before investing in any securities, you consult with a professional financial planner or advisor, and you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. We are not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security. Our publications about Black Mountain Gold are not a recommendation to buy or sell a security.
Should Stock Market Media Group and its management own shares in the profiled company, they may benefit from any increase in the share price of the profiled companies and hold the right to sell the shares bought at any given time including shortly after the release of the company’s profile. Section 17(b) of the 1933 Securities and Exchange Act requires publishers who distribute information about publicly traded securities for compensation, to disclose who paid them, the amount, and the type of payment. Under the Securities Act of 1933, Section 17(b), Stock Market Media Group discloses that it was remunerated one-thousand, two hundred dollars paid for by a third party via bank wire, to produce this content related to Black Mountain Gold.
Stock Market Media Group and its management do not own any shares in Black Mountain Gold and never accepts compensation in free-trading shares for its marketing services of the company being profiled, however third parties that have compensated Stock Market Media Group may hold free-trading shares of the company being profiled and could very well be selling, holding or buying shares of the company’s stock at the same time the content is being disseminated to potential investors; this should be viewed as a definite conflict of interest and as such, the reader should take this into consideration.
If Stock Market Media Group ever accepts compensation in the form of free trading shares of the company being profiled and decides to sell these shares into the public market at any time before, during, or after the release of the company’s profile, our disclaimer will be updated accordingly to reflect the current position of any free trading shares received as compensation for our services.
For more information: https://stockmarketmediagroup.com