Buyer Group International, Inc. Announces Completion of Targeted Expansion at the Shambhala Platinum Project - New Rambler Mine Access
SHERIDAN, WY / ACCESSWIRE / February 9, 2023 / Buyer Group International, Inc. (OTC PINK:BYRG) announces the confirmed completion of a 268 acre, 13 claim expansion onto the 100% owned Shambhala Platinum Project. In our recent end of season summary (12/21/22 Company News) we disclosed the processing of this 268 acre expansion. With the confirmation of ownership Buyer Group is now able to go into more detail behind the reasoning of this expansion project.
On the reasoning and goal of this expansion Buyer Group Head of Exploration Steven Cyros commented, "After countless hours of fieldwork and many more hours of research, I believe that we have now secured every available inch of remaining ground around the historic New Rambler Mine workings and 5000 feet of existing tunnel complex. Not only has this ground proven to be valuable by itself as the historic records have shown, but the strategic placement of these new expansion claims, and the way that we laid them out, will give us the extralateral underground rights to thousands of feet beyond the claim boundaries for purposes of working the existing vein. That means we now legally own the mineral rights of the New Rambler Mine at all of the points where we are able to intersect the old tunnels and workings even though they travel beyond our claim boundaries and in most cases today are actually under private property. Extralateral rights, which are sometimes referred to as the apex rule or the intraliminal rights, are not often used, as most exploration companies don't know how to legally file for them. This is a game changer for us. This means that if we can access any of the old subsurface tunnels because they run under any of our new claims, we will own the mineral rights far beyond our claim boundaries because they are all part of the same vein structure. The ore body that produced the rich values at the turn of the last century was thought to have been lost forever because the land was developed and sold for private residences. That would be the end of the story for most, but not for us. We are pretty sure that we know what is likely just lying underground, waiting untouched and unseen by human eyes for more than a century after the fire that closed the mine for good in 1918. Now, depending on where exactly it is, we will be able to access all of that wealth, as we likely now own it!"
On the completed expansion project Buyer Group Chief Executive Officer David A. Bryant commented, "Access to the New Rambler seemed improbable, at first. Upon studying countless pages of USGS and other geological reports, we felt we could find and target the old Copper Mine complex and gain access to the original workings. We believe we have achieved just that, giving us access to a historical mine that produced well over 1 Million pounds of copper and thousands of ounces of Palladium during the WW1 era. This is a huge find for us and we look forward to entering and connecting the New Rambler Mine workings and tunnels to our own."
About Buyer Group International, Inc.
Buyer Group International, Inc. is targeting exploration at its flagship mining project Shambhala in Albany County, Wyoming. The Shambhala Project consists of 84 lode claims, 2.71 square miles in the historic New Rambler District. The district is located near the south edge of the Cheyenne Belt, a noted Greenstone Belt of the Medicine Bow mountains, which contains various concentrations of rare minerals.
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Buyer Group International, Inc.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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SOURCE: Buyer Group International, Inc.
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