2018 | Q3 Update

gsminingcompany Quarterly Update

Drilling Has Commenced!

Drilling Has Commenced!

In the third quarter, continued pumping has moved the water level down to about 140’ from collar of the shaft. The water level continues to drop about 1-2 feet per day, six days a week.

We drilled an exploration hole at the 112 foot level that went one hundred feet deep into the southeast portion of the wall. At the same level, we also drilled about twenty-five feet into the southeast section of the wall.  Samples of promising looking minerals were removed and have been sent off to assay for analysis. 
 

West Hunter Shaft

We have opened the West Hunter (also called German) shaft and set up a portable head-frame.  We are working on the shaft with the goal of tunneling to it from the Bates and using it as an emergency egress, as well as for mining and exploration.
 
 

Water Treatment Plant 

Pumping at the water treatment plant is now ongoing at about 300 gallons per minute.  The filtration system has removed a significant amount of sludge which is being evaluated in order to determine the type of landfill to which it will be delivered.
 
 

Meet the Miner

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This quarterly report may be deemed to contain “forward-looking” statements. We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and we are including this statement for the express purpose of availing ourselves of the protections of such safe harbor with respect to all of such forward-looking statements. Examples of forward-looking statements include, but are not limited to (i) projections of revenues, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure and other financial items, (ii) statements of plans and objectives of ours or our management or Board of Directors, including the introduction of new products or services, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (iii) statements of future economic performance and (iv) statements of assumptions underlying other statements and statements about us or our business.

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