American Energy Production Inc. (OTC.BB:AENP - News) announced today the company has began processing Gold from their latest acquisition, the Dorado Gold Mining Operation, an environmentally conscious mining project with two claims totaling 200 acres surrounded by 550,000 acres of the Trinity Alps Wilderness, located in California's original Gold Rush Country. AENP is an Oil and Natural Gas company in Texas that has now diversified with a new Placer Gold mining operation. The Dorado Gold Operation is two claims that are divided by the Canyon Creek and the East Fork of Canyon Creek. The Trinity Claim 1-8 is a Bureau of Land Management claim that covers 160 acres while The "Oswald" Claim is owned in mineral fee and consists of 40 acres.
The Dorado Gold Operation, legally referred to as The "Oswald" Claim and Trinity Claim 1-8 use the "Clean and Green" approach to mining gold. All operations are 100% chemical free, environmentally friendly, water based, and certified by the US Department of Forestry passing the most stringent of California's strict environmental protection regulations while still maximizing mining output. Unique classification stages include using chemical free water as a first stage recovery with no use of grinding material and still calculating a recovery rate of 95 percent of Gold Nuggets and Gold particles.
A team of heavy equipment operators running bull dozers, front end loaders and excavators have been working for the past month focusing on refurbishing the equipment and processing plant to start to bring the claim up to full production. Joe Christopher, President of Oil America Group, a wholly owned subsidiary of AENP and manager of the Gold mining operation, stated, "The Gold mining operation is running at 15 percent capacity and will increase rapidly over the next few weeks to 85 percent as soon as the employees become more familiar with the operation. Mr. Christopher said he is very excited about the Gold recovered so far because the claim appears to be much richer than originally expected."
Charles Bitters, President of AENP, said, "We are very excited about the new Gold mining operation and the opportunity to diversify the company into other commodities such as Gold and other precious metals. The company believes that with the price of Gold reaching a new historic high this past week of $1055 per ounce, and a belief it could go much higher, there is a tremendous opportunity for AENP. With world economists predicting a return to double digit inflation due to out of control U.S. deficits, Gold is by far the best hedge against a collapsing dollar."
