Thursday, 5 March 2009

Philippines Ranks 2nd to Africa in Gold Production per Unit Land Area, ZNext Mining Announces


CHEYENNE, WY - ZNext Mining Industries, Inc., with OTC.PK Stock Symbols: (PINKSHEETS: ZNXT) (OTC Preferred: ZNXPP), announces today that ZNXT is getting closer to completing the compliance requirements to obtain the large scale mining permit after 12 months of reorganization. New ZNXT Management sent a new team of expert mining /mechanical engineers and metallurgists to further explore the final documentation needs of Region V Mining Licensing Agency.

ZNXT was assigned 100% Interests of the MPSA and Exploration Development on the XYZ Gold Mine that was owned by Pearl Asian Mining. This is a golden opportunity for ZNXT to capitalize on the Philippines' rich gold and other mineral reserves that have been untapped since 1991.

Worldwide, the Philippines had been an important gold producer, ranking 29th in 2002. In 1988, the country placed second to South Africa in terms of gold production per unit land area. Total production from 1946-2003 amounted to 1,172,912 kg gold valued at about PHP 225 billion (about $4,787,234.00) according to the Data from Mines and Geosciences Bureau, Mineral News Service.

No comments:

Post a Comment