BCSC Raises Alert Regarding Mission Mining’s Gold-Silver Property

Mineweb reported that the British Columbia Securities Commission (BCSC) has put out an investors alert on Mission Mining Co. (OTCMKTS:MISM), which claims in a report “said to be authored by a Qualified Person under NI 43-101 guidelines” that its Gold Star property holds up to 2.6 billion ounces of silver and 370 million ounces of gold.

As quoted in the market news:

To put that in context, such a resource, if valid, would dwarf the Pebble Creek gold-copper project, which is generally considered the biggest undeveloped gold project in the world. Pebble is said to host 57 million ounces gold in measured and indicated resources.

Yet, the basis for Mission’s resource claims are thin.

The report does not describe any drilling and, in terms of exploration results, only references six trench samples, with associated assays, and a 12 ton sample for the basis of the massive resource claim.

Oddly for a report outlining resources purported to be NI 43-101 compliant, Vizkozic acknowledges that the property has seen little exploration.

‘An in-depth exploration of the subject property has not been undertaken, although throughout the property various test pits are visible,’ he writes.

He also states, ‘To date, Mission Mining Company has not undertaken any drilling on the Gold Star property.’

Click here to read the full Mineweb report.