Clavo Rico Gold Mine in Honduras
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LOS ANGELES, CALIFORNIA--(Marketwire - Feb. 3, 2011) - RAZOR RESOURCES INC. (OTCBB:RZOR) -
Few, if any of the world's producing gold mines have as long and storied a history as the Clavo Rico concession in southern Honduras. For over 500 years, Clavo Rico has been the source of high grade gold; in fact; during the 16th century Clavo Rico was considered to be one of the single greatest assets of the King of Spain. Clavo Rico has been mined intermittently since that time, but Razor Resources is the first publically-traded company to operate the mine and, with the use of modern mining technology, may be on the verge of fully tapping into Clavo Rico's vast potential. Razor Resources believes that it is the first entity to fully implement modern mining technology at Clavo Rico.
In 2010, Razor embarked on a two-phase initiative to determine the property's projected reserves, where exactly on the property they were located, and to expand production operations. Phase 1 of the plan includes the re-mapping of the entire concession, complete with air photo and topographic imagery. Using this information, Phase 2 involves exploratory drilling of 14 key strike areas identified during Phase 1. Additionally, it is projected that Razor Resources' modernization will increase the yield of the existing production five-fold, from 200 ounces per month to over 1,000 ounces per month. This increase in production will increase cash flow and fund additional exploration, drilling, and still further modernization.
About Razor Resources Inc.
Razor Resources Inc. (OTCBB:RZOR) (>www.razorresourcesinc.com
