Virtual Health Technologies, Inc. (OTCBB: VHGI) announced recently that an 8K has been filed detailing contracted analysis of historical reserves at the Treasure Gulch Gold Mine held under Lease-Purchase Option by VHGI Gold, a wholly owned subsidiary of VHGI. The filing contains an update of the original report entitled "THE TREASURE GULCH AND ZERO MINES", originally prepared for Western Sierra Mining by Gold River Exploration. In addition to this updated analysis, Western Sierra Mining prepared pro forma financial projections relative to VHGI's operation of the Mine assuming the construction of a full scale processing facility onsite.
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"At $1200/ oz Au, the report details that total reserves calculate to a gross recoverable value of 45,827 oz of Gold, or $54,992,400.00. Assuming a recovery rate of 92% (typical for a hard rock recovery operation) the extractable value would be $50,593,008. Furthermore, the report estimates an estimate of $100 per ton of processed ore, or approximately $200/ ounce Au," stated Jim Renfro, President of VHGI. "Additionally, we are evaluating pro-forma financials for 12 month revenue and income from the construction of a hard rock processing facility for the Treasure Gulch Gold Mine. We are pleased with this initial analysis of the data, and will release further details pending valuation by our staff,” Additionally, VHGI confirmed that the material has been passed on to a well renowned analyst with a following in both gold and technology companies that the company has retained to analyze the data and profile VHGI. The analyst report is anticipated to be released within the next few days via PR Newswire and other media outlets as soon as it has been completed. VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals / Energy Resources Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining, Precious Metals and Energy Resources Markets. Although Gold is selling at 25 year high prices and Oil & Gas continue to be trading at significant premiums, global economic events have created significant opportunities within these markets. VHGI intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures for the goal of enhanced shareholder value.
Virtual Health Technologies, Inc. cautions investors that none of the information concerning the valuations of mineral deposits or other data reported above have been verified by outside geologists or other verifiable sources.
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