Aggregates = a gold mine
- Published: Wednesday, 15 December 2010 11:29
- Written by Mark Kuhar
Who said aggregates aren't as good as gold? Arizona Gold & Onyx Mining Co. (AGOM) announced the acquisition of a promising sand and gravel deposit and a placer gold property located in Yuma County, Ariz. The Yuma property comprises a very large resource of high-quality construction aggregates ideal for road construction and other uses, according to the company. In addition, native gold and other precious metals are contained in this large resource of alluvial sand and gravel. AGOM intends to aggressively advance the Yuma project toward production of sand and gravel in the months ahead and to also pursue the potential of building a placer gold mining operation in conjunction with aggregate production. There is strong potential to economically extract the gold and thus enhance the economics of the entire project, the company said. Management is enthused that ultimately, the cash flows from the sale of aggregates as well as the potential revenue from gold sales will contribute significantly to overall corporate growth.