NEW YORK, NY--(Marketwire - Jun 15, 2012) - The Graystone Company (PINKSHEETS: GYST) has recently announced that they have acquired their second lease in Peru (Graystone II) which is could be estimated to contain nearly 20,000 ounces of gold. Peru is currently being mined by companies such as Newmont Mining (NYSE: NEM), Entrée Gold (NYSE MKT: EGI) and Gold Fields Ltd (NYSE: GFI).
Peru is the world's largest producer of silver, 3rd largest of copper and 5th largest of gold. It is by far the largest producer of gold in Latin America. Gold accounts for a third of Peru's export revenue. The vast reserve of the country's minerals is regarded to be only 10% explored nationally. This leaves a lot of potential for companies that secure mining rights.
This newest acquisition comes on the heels of the company's announcement of their Gorila (Graystone I) site in Peru. Based on these initial ranges the Company is estimating that the amount of gold on the Gorila (Graystone I) site could be in excess of $100,000,000.
For more information, please visit www.graystone1.com
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