Gold Mining in Honduras
Clavo Rico mine currently producing approximately 130 ounces of gold per month
Message: Razor Resources Inc. Announces the Storied History of Its Clavo Rico Gold Mine
LOS ANGELES, CALIFORNIA--(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) is a Los Angeles, California based gold exploration and production company engaged in gold mining and its associated activities including but not limited to exploration, extraction, processing, and reclamation. The Company specializes in sustainable, low-cost gold production and currently owns and operates the Clavo Rico mine in the Choluteca region of Honduras. Razor Resources Inc. (RZOR:OB) is one of the few junior resource companies to reach 'production status' – and is focused on increasing gold production on an annual basis. The Company currently produces approximately 200 ounces of finished, pure gold per month with room for expansion and essential infrastructure already in place to handle the increase. Additional income is received through production services provided to other mining companies in the region.
For further information, please contact:
Gregory Rotelli, 12340 Seal Beach Blvd., Suite B-190, Seal Beach, CA, 90740, (949) 419-6588, [email protected]
For more information, please contact
Razor Resources Inc.
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