LONDON, UNITED KINGDOM--(Marketwire - Sept. 4, 2012) - London based miner Milton Ellis Rawe, yesterday announced that it would be formally closing the Goldbelt investment fund to new investors in December 2012 and had instructed chief geologist and head of mining Howard Metzler RPG to formally set plans to commence mining operations in the first quarter of 2013.
Mining at the Nevada star mine was pushed forward given increased interest from domestic and particularly foreign investors. "The middle east is a great place to do business. The climate and sophistication of today's investors in emerging markets not only seeking commodity based investments but across a broad spectrum of industries continues to gain momentum. We see this in investor interest seeking both equity and investment into the Goldbelt fund in Saudi Arabia and across the wider Middle East" said chairman Ellis.
Milton Ellis Rawe has in recent months increased the size of the Nevada star project in Winnemucca with current exploratory drill testing running in excess of 500 drill holes. In addition to trenching at the site both past and present, continues to propel expectations at the U.K based gold miner.
Milton Ellis Rawe earlier in the year instructed Tucson based GeoGrafx to carry out geomapping at the Nevada based mine. Geologist Metzler said "This starts the real point where we can start looking for the source and section up a mine plan." The miner's assessment of data is extremely encouraging and indicates a significant source is present via high gold values seen in fire assays of gold that have not eroded away from the rock.