The Directors and Management of Iberian Minerals are very excited with the signing of an agreement with Vulture Peak Gold Inc. The Mineworx patent-pending HM X-tract environmentally friendly, portable heavy mineral extraction technology is currently on site and being commissioned at the 275 acre Vulture Peak Gold Mine, located approximately 70 miles northwest of Phoenix, Arizona.
Since the acquisition of Mineworx we have been very busy on multiple fronts. First of all, regarding our Spanish interests, the Cehegin iron ore project is moving along with documents submitted to the mining authorities for extending adjacent properties to our concessions based on our analysis of the latest aeromag survey. This is being done prior to the final submission for our initial drill program which is currently in the final planning phase.
The Aroche Wollstonite project is in the final legal due diligence stages after the signing of the Agreement which was announced on November 10, 2015. We expect completion by early summer and will keep everyone informed of the progress. Due to the present market sentiment regarding iron ore pricing and capital expenditures on exploration activities we are cautiously moving forward while being cognizant of cost expenditures on our projects. This would also pertain to the Caurio gold project where we are sourcing appropriate partners to move forward with on the concession.
Since the amalgamation with Mineworx we have focused the majority of our time, effort and resources on fine tuning the existing HM X-tract patent-pending, environmentally friendly, portable heavy mineral extraction unit as well as developing additional technologies. As well, we have spent considerable time evaluating alluvial (placer) and hard rock opportunities in primarily Arizona and Nevada and have a short list of viable opportunities to move forward on. Our team has been very busy in our new fabrication facility in Coquitlam, B.C. on the testing/commissioning aspect of our next prototype, designed for hard rock mining applications.
We anticipate early summer finalization of the unit which will be forwarded to Arizona. A patent is in the final stages of completion and will be submitted shortly regarding this new technology which is focused on hard rock mining applications. Obviously you will be updated prior to this event.
Additionally, we recently moved into a new lab facility, also in Coquitlam, and are working on related mining technologies which we have not disclosed to the public yet. As soon as we comment on these technologies to the marketplace we will be giving an in depth description on them. We are extremely excited with our accomplishments in this area and are looking forward to sharing them with everyone.
A
s you have recently read, we have announced the mobilization of our HM X-tract equipment to Vulture Peak Mines at Wickenburg, Arizona. Our initial prototype equipment was designed for alluvial deposits, which we will be initially working on at Vulture Peak. Our intention is also to send the hard rock mining prototype to the site for final commercial production and evaluation this summer.
The Vulture Peak site also has the opportunity for us to commercially test and evaluate the other previously mentioned technologies we are working on, and as previously stated, shareholders will be fully updated on our progress at the appropriate time.
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| Vulture Peak Gold Inc hard-rock gold processing plant |
Within Mineworx, we are quickly transitioning from a R&D company to an operational entity. As always we expect bumps along the way, however, we have a core of dedicated and talented team in place that will make the journey smoother and ultimately extremely successful. To simply say we  are excited as to where we are heading would be an understatement. We are all extremely optimistic where this company is headed. Our team is confident that very shortly we will be making significant inroads and impacts within the mining sector. Our goal is to become an industry leader with our numerous technologies and to be considered as such with our peers in the mining sector.
Expect news updates as we move through spring and into summer. This is exciting times for our company and we again acknowledge you for your continued faith and support in what we are endeavoring to achieve.
History of the Vulture Peak Mine
The Vulture Peak mine, or as it was then known - the Vulture mine began in 1863 when
Henry Wickenburg, a prospector from California's gold rush, discovered a quartz deposit containing gold. Shortly after the mine was established a small mining town was developed. It was called Vulture City. The town once had a population of 5,000 citizens with such amenities as a workshop, saloon, brothel, mess hall, and tennis court.
The desert surrounding the Vulture Mine did not give much in the way of produce, so an enterprising individual by the name of Jack Swilling went into the Phoenix Valley and reopened the irrigation canals left by the native peoples. Agriculture was brought back to the valley, and a grain route was established. This grain route still exists today under the name of Grand Avenue. Phoenix, Arizona, grew up around the agricultural center spawned by the needs of the Vulture Mine.
In 1942, the Vulture Mine was shut down by a regulatory agency for processing gold. This was a violation at the time because all resources were to be focused on the war effort. The mine appealed the shut-down order and reopened, but with less vigor. A few years later, the mine closed permanently.
This ironwood tree was determined to be two or three hundred years old and in good health after a horticultural evaluation. The legend holds that 18 men met their fate on the branches of this tree, hung for high grading (the concealment or theft of valuable gold/silver).
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The old Assay Building at Vulture Peak |
A guided tour of historic Vulture
Mine
is offered on Saturday m
ornings. The tour provides a glimpse of the mining culture and lifestyle in the American Southwest at the turn of the twentieth century. Visitors will explore a selection of remaining buildings in Vulture City, the once-booming mining town.
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