GolfGear International, Inc. Begins Initial Funding for Phase One Development of Silver Cord Mine
October 10 2011 - 8:30AM
Marketwired
GolfGear International, Inc. (PINK SHEETS:GEAR) announces that it
has begun providing initial funding for placing the Silver Cord
Mine into production as stipulated under terms of a joint venture
agreement with the mine owner, Mission Holdings, LLC.
Dale Geck, President of GolfGear International, stated, "The
Silver Cord joint venture presents the Company and its shareholders
with an unusual opportunity. The Silver Cord Mine is unlike many
other mining properties that are made up of raw, undeveloped lands
typically requiring extensive geological exploration, permitting,
excavation, and significant time to reach production. In contrast,
the Silver Cord Mine is a developed silver and gold mine with over
900 feet of existing tunnels following a prominent silver vein. It
has a documented history as a producing mine and has an existing
infrastructure already in place. This is not a start-from-scratch
mining project, but a well-planned expansion of an established mine
that has demonstrated successful ore production in its past.
Management chose to pursue the Silver Cord mining opportunity due
to its obvious potential for rapidly generating revenues from
silver and gold production."
Western Sierra Mining Corp. (PINK SHEETS:WSRA) will manage
production of the Silver Cord Mine under the joint venture
agreement. According to Michael Chaffee, CEO of Western Sierra,
"These initial funds will go directly toward Phase One of our
Development Outline, which will include general exploration,
sampling, and mapping of the mine. Some ore material will likely be
removed and processed as part of the geological evaluation."
About GolfGear International, Inc.:
GolfGear International, Inc. was originally incorporated in 1996
as a golf equipment company. The Company has recently altered its
business strategy to include gold and silver mining, providing
financing for gold and silver mining projects, and precious metals
processing and refining. The Company has recently announced the
execution of a joint venture agreement with Mission Holdings, LLC
for placing into production the Silver Cord Mine in Arizona.
GolfGear plans to process gold and silver extracted from the Silver
Cord utilizing an efficient environmental extraction and refining
technology under a licensing agreement with EnviroXtract, Inc.
(PINK SHEETS:EVXA). GolfGear anticipates further announcements
regarding additional gold and silver mining and processing
opportunities to be forthcoming.
Safe Harbor
This press release contains statements that may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of GolfGear International, Inc., and members
of its management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to
management that could cause actual results to differ materially
from those in forward-statements include fluctuation of operating
results, the ability to compete successfully and the ability to
complete before-mentioned transactions. The Company undertakes no
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results.
Contacts: GolfGear International, Inc. Dale Geck President - CEO
1-888-550-7067Info@gearii.com
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