Nilam Resources Inc. to Dispatch Independent Geological Team to
Start Next Phase Plan on its Llipa Project Located In Close
Proximity to the Great Antamina and Cerro de Pasco Mines in Central
Peru
LIMA, Peru, Nov. 26, 2012 /PRNewswire/ -- Nilam Resources
Inc. ("Nilam" or the "Company") (NILA-OTCQB) announces today that
it is sending an independent geological team to start the next
phase plan on its Llipa property in Central Peru. The company
is looking forward to receiving their report sometime in the first
calendar quarter of 2013.
The LLIPA project has two major mining concessions in
Central Peru located in between
the great Antamina and Cerro de
Pasco mines and shows a strong potential for becoming a
major poly-metallic open pit mine. The mine was previously in
production and had already produced 1 million tons of tailings
containing copper, gold, silver, and zinc which currently remain on
the property.
LLIPA mine is located NE of the Linderos Project and accessible
by highway (380 km from Lima). The LLIPA mining project is
located in the center of Peru
The utilities of water and electricity are available in the near
proximity of the LLIPA project, greatly facilitating mining
operations. Qualified labor is accessible through the Llipa
district. Petroleum, gasoline and other fuels are easily
obtained within a short, reasonable distance.
The average height of LLIPA project varies between 3,600 to
4,200 meters above sea level.
For more information, please visit
www.southamericanmining.com
Shahin Tabatabaei, President and CEO for Nilam Resources Inc.
stated, "We believe that our Llipa project has great potential,
everything in the past supports our vision for this project, but we
believe an updated study of the project by an independent
geological team is needed to further support our vision. We
believe this is the first step in executing our strategies."
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.
Contact:
info@southamericanmining.com
SOURCE Nilam Resources Inc.
