SPOKANE, WA – July 29, 2020 - Goldrich Mining Company (OTCBB: GRMC) (“Goldrich” or the “Company) announces it has commissioned Global Resources Engineering (“GRE”) of Denver, Colorado to complete a mining plan and Initial Assessment for the Company’s Chandalar Mine.
According to the new amendments adopted by the SEC to modernize the property disclosure requirements for mining registrants, the preparation of the Initial Assessment will allow Goldrich to disclose inferred, indicated and measured resources.
William Schara, CEO of Goldrich, notes, “Prior to the new amendments adopted by the SEC, Goldrich was not allowed to disclose resources. The new disclosure rules now allow us to disclose the resources we have discovered at Chandalar and give us the same advantage as companies who can disclose resources in other jurisdictions such as Canada or Australia.”
Subject to the findings of the Initial Assessment, Goldrich will decide if a Preliminary Feasibility Study should also be prepared for the Chandalar Mine. A Preliminary Feasibility Study would allow Goldrich to disclose any reserves of the Chandalar Mine.
About Goldrich Mining
Goldrich Mining (OTCBB: GRMC) is a U.S. based resource company focused on developing the Chandalar gold district in Alaska, USA. The Company controls a land package spanning 23,000 acres of highly prospective gold targets and historic mines. Goldrich is focused on building shareholder value by monetizing placer assets, generating non-dilutive funds, and working towards building a lode gold mine at Chandalar in addition to the existing placer gold mine already producing on site.