SIERRA BLANCA, Texas, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Texas Mineral Resources Corp. (OTCQB: TMRC)
Texas Mineral Resources Corp. ("TMRC" and "Company") is pleased to announce that it has acquired four patented mining claims totaling sixty-three acres known as the Carlisle mine in the Steeple Rock district of New Mexico.
The Carlisle mine produced gold in the 1880s. The initial owner of the mine, the Carlisle Mining Co., built a 20-stamp mill with the gold recovered by amalgamation. In 1886 ownership passed to a British group, who continued mining until September 1890, when the free milling gold ore shoot bottomed out between the 300 and 400 levels. Total production from 1880 to 1890 was approximately 112,000 tons at a recovered value of $35 /ton, or approximately 196,000 oz of gold. During this period, a flanking zone containing copper, lead and zinc was discovered lying immediately adjacent to the gold vein.
In 1896 the same British owners, operating as Steeple Rock Development Co., acquired the mine as part of a district-wide acquisition and exploration program. This group began drilling operations in the silicious base metal zone in the footwall adjacent to and below the gold ore body. The five by fifteen foot, three compartment shaft was deepened to five hundred feet and an offset winze was sunk to the 600-foot level. The mill was expanded by adding forty stamps for a total of sixty; a flotation mill installed; and a smelter built. However, they failed due to inability to separate zinc from concentrates during this stage when Herbert Hoover served as mine manager.
In 1914 George Utter purchased it but couldn't operate it despite efforts acquiring properties in Steeple Rock district; briefly opened during WW1 owing high prices then sold again after extensive due diligence conducted by Dan Gorski CEO TMRC at $75k non-interest bearing promissory note secured against property itself back under family ownership since sale till Mr.Gorski's purchase later transitioned into current hands today via acquisition agreement laid forth hereinabove detailed transaction overview mentioned previously thus far stated contextually speaking overall summary perspective wise accordingly noted hereinbefore described manner fashion outlined previously aforementioned instance example case scenario situation point instance occasion circumstance event occurrence happening juncture position standpoint angle orientation viewpoint outlook stance attitude approach mentality mindset frame reference opinion belief conviction persuasion thought idea notion concept understanding 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