OCALA, FLORIDA – AUGUST 4, 2011 (IMMEDIATE RELEASE) – Blackhawk Mines Corp., B06N.F, WKN Number - A1H52M, ISIN Number - CA08265A1003, website - www.blackhawkmines.com is pleased to announce that the company has advanced the initial payment for the initiation of a work program on the Big Bear Mining Claims.
This is the initial payment of a $10,000,000 Joint Venture entered by the two companies with the goal of proving the indicated gold resources on the Big Bear claims and if warranted, developing the Big Bear property to possible production. Siga's work program and the beginning of evaluation of the project are underway as of Aug 3, 2011.
The work program will consist of extensive mapping of existing trenches, outcrop, oxidized zones and other previous workings including drill sites. Geochem sampling of large areas of the claim group along with sampling of all pits and trenches will be conforming with previous mapped and sampled areas which returned assays of greater than .01 oz/ton gold in the soil geochem. These areas of greater than .01 oz/ton gold covered a large area of the claim group and give rise to the anticipated total indicated contained ounces of gold which could range from 1 to 2 million ounces.
The Big Bear project is currently controlled under an agreement to acquire 100 percent of the property. It is situated near Lucerne Valley, CA and currently consists of approx 1440 acres (approx 2.25 square miles) of mining claims. The Big Bear Claims are on the North eastern edge of the San Bernardino Mountains. The project area is known historically as the Blackhawk mining District has been a previous producer of gold and silver. The area is believed to contain economically viable gold mineralization, particularly at the current metals prices. Anticipated total contained gold based on existing reports and studies could be in the range of 2 to 3 million ounces.
See more: http://www.slideshare.net/genmcklein/blackhawk-mines-corp-b06nber-pligg http://www.tumblr.com/tagged/black%20hawk%20mines%20b06n http://www.tumblr.com/tagged/blackhawk%20mines%20b06n