ABOT Mining Commences Due Diligence Study Beyond Aztlan 8B’s Strike Zone (ABOT)
ABOT Mining Co. (PINK: ABOT), a Sherman Oaks, California-based mining company engaged in discovering, acquiring, developing, producing and marketing precious and semi-precious metal properties, today announced that its recently completed civil engineering work on the Aztlan 8B Project further suggested that the mineral deposit may stretch beyond the strike zone into an adjacent property to the south.
ABOT said that it started preliminary discussions with the property owner and is currently completing its internal due diligence on documents provided by the property owner. The company plans to add the property to its portfolio if the preliminary analysis is consistent in testing and surface sampling to the Aztlan 8B and deal terms meet its criteria.
Last week, ABOT Mining also provided an update on its Aztlan 8B Project. ABOT completed the civil engineering work on the property with more definitive mapping and property delineation. Additionally, the operator of the property has engaged a geologist to further collected from the maps and core logs and to determine surface intrusions and review new data to more accurately define the ore bodies.
Imran Firoz, President of ABOT Mining, said last week that the progress on Aztlan 8B Project is moving forward according to the company’s estimated timeline. Firoz said that the concluded study shall further allow the company to locate and delineate any high grade zones and bulk tonnage zones in the Aztlan 8B Project.
As ABOT Mining continues to make progress, the company’s shares have gained momentum in the last few trading sessions. In the last three trading sessions, the stock has gained nearly 35%.
The stock has, however, shed some of its gains in today’s trading. At last check, ABOT Mining shares were down 7.94% to $0.0290 on above average volume of 14.54 million.
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