LAS VEGAS, May 16, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Centaurus Diamond Technologies, Inc. (the "Company" or "Centaurus") (OTCQB: CTDT) is pleased to announce the completion of a joint venture and strategic land acquisition deal with Apache Mill Tailings USA, Inc. ("Apache") on Apache's 24-acre Johnny Bull Mine in Chloride, AZ, for $10,080,000 in stock and cash.
In exchange for 10 million shares of Centaurus' stock and $80,000 in cash, Apache will conduct operations on Johnny Bull Mine and grant all recovered diamonds, sapphires, emeralds, and gemstones to Centaurus. Apache will also sell all noble metals and rare earth minerals to Centaurus at 20% below spot market price. Additionally, both parties have agreed to share 2% of net revenue from their separate revenue streams that originate from the mining complex.
The Johnny Bull Mine is a 24-acre lot adjacent to the famous gold mining town of Chloride, Arizona and is less than 90 minutes away from Las Vegas. Eight holes were dug in the early 1900's along a Kimberly dyke and are spaced between 200 and 370 feet apart. Operations ceased when the Federal Government banned non-strategic mining during WW2, mining operations have not resumed until now. Due to modern improvements in technology it is now practical to harvest the remaining value from the milled and mined tailings piles.
Apache has hired Sierra Enterprises, LLC to commence operations in late May. Over one million tons of tailings are available for immediate processing, the entire ore deposits are estimated to be worth $22 billion.
In order to verify the mineral wealth, spectroscopic assays were carried out from the same locations that were assayed in the past by William Crutchfield, Jr. for the Santa Fe Railroad in 1980. To our pleasant surprise, all eight locations had hit a rich Kimberly Dyke, due to a local caldera formed as a result of volcanic activity. The most promising pit assay detected 1.6 oz./ton of gold and 14.5 oz./ton of silver, high amounts of lead and zinc, and a very rich gemstone deposit.
CEO Chas Radovich stated, "After reviewing the latest spectroscopy assay data and imagery, as well as the third-party assay reports, it made for an easy decision for our Board of Directors in the interest of our shareholders. We have minimized our costs and risks in this venture and stand to profit greatly as we integrate these 'Made In America' diamonds and gemstones into our operations for both industrial and jewelry-grade use."
For more information contact Chris Cass at Investor Relations for Centaurus at email@example.com.
SOURCE: Centaurus Diamond Technologies, Inc