Nilam Resources Inc. Announces Update on Its El Varon Mine Which is in Close Proximity to The Great Morococho and Toromocho Mines Near Lima, Peru
LIMA, Peru, Nov. 27, 2012 /PRNewswire/ -- Nilam Resources Inc. ("Nilam" or the "Company") (NILA-OTCQB) announces today that it is sending an independent geological team to its El Varon property to study and produce independent updated laboratory results. The company is looking forward to receiving their report(s) and results in the next few months.
The EL Varon project consists of "Tati" and "San Marino No.2" mining concessions which are located in close proximity to the great Morococho and Toromocho mines near Lima. Previous laboratory analysis shows rich poly-metallic mineral deposits rich in Gold, Silver, Copper, and Zinc metals with production estimates that are expected to grow up to 6,000 tonnes/month of production.
El Varon already has the necessary infrastructure for mining operations, including electricity, proximity to water and accessible transportation.
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Shahin Tabatabaei, President and CEO for Nilam Resources Inc. added, "Step by step we are forwarding our current projects. We must be meticulous in our strategy on each of our projects and all of our future projects. I am looking forward to receiving updated results from our projects. Our company strategy is to develop our projects but we are also looking at other acquisition targets during this process."
About Nilam Resources Inc.
Nilam Resources Inc. is focused on the exploration and production of precious and base metals on their current Llipa and El Varon properties in Peru. The Nilam Resources Inc team will research, review and prove any reserves for the purpose of production as part of its growth plan. The company also plans to recognize, and acquire near-term production mining properties as part of its further growth strategy.
Symbol: OTCQB – NILA
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
SOURCE Nilam Resources Inc.