VANCOUVER, December 19, 2011 /PRNewswire/ --
Pan American Goldfields Ltd. (OTCQB: "MXOM") (the "Company") is pleased to announce the appointment, as advisor to its board of directors, of Alexander Borisenko Dr. Sci.. Dr. Borisenko is head of the ore-deposit geology department at Novosibirsk State University in Russia and he is the Deputy Director of the Institute for Geology and Mineralogy, Siberia Branch Russian Academy of Sciences.
Dr. Borisenko is an expert regarding ore-deposit formation and metallogeny. His work resulted in the discovery of a silver belt currently estimated to contain 3.8 billion ounces of silver at SE Altai and NW Mongolia where he also identified a number of economic Ag-Sb deposits. Dr. Borisenko is also credited with the discovery of the Central Khangai gold-belt and the resulting discovery of large gold placers including Harguyt and Twin-goal. In Southern Mongolia he discovered several gold deposits including Bumbat and Unegen-Del. For his discovery of the silver belt at SE Altai and NW Mongolia he received a Medal from the Union of Communist Republics.
Dr. Borisenko is a director and executive for a number of different scientific projects and he actively participates in international scientific collaboration with academic and industrial organizations of Mongolia, Vietnam, China, Czech Republic, England, Germany, Morocco and other countries. He is an author or coauthor of 127 papers, and 6 monographs. Dr. Borisenko is a member of editorial board for the Scientific Journal of Russian Geology and Geophysics. He has been on the committee of the International Association for Genesis of Ore Deposits since 1972. He is a member of SEGA: the Association of Economic Geologists. In 2011 he received the State of Vietnam's Friendship Medal for his research regarding economic geology in that country.
"Dr. Borisenko has already demonstrated his value to Pan American during a recent tour of prospects in Colombia, and Argentina" said Pan American Goldfield's Chairman Neil Maedel. "Dr. Borisenko provided an intense and nearly unparalleled analysis of the various gold properties we are currently exploring or evaluating. It is clear that as advisor to the board he greatly increases our company's ability to identify and analyze gold systems in a cost effective way, while ultimately, he greatly increases the likelihood that we will make major discoveries."
About Pan American Goldfields
Pan American Goldfields is a precious metal producer and exploration company. It is a specialist in exploration, mine development and production in Mexico's booming Sierra Madre Gold-Silver Belt. The company's most advanced project is its now producing Cieneguita gold-silver mine where a preliminary economic assessment is underway. In addition, it holds the Cerro Delta project in Argentina, where it is exploring for large gold and copper-gold mineralization in the Maricunga Gold Belt in Argentina, across from a number of world class projects in Chile.
On behalf of the Board of Directors,
Neil Maedel, Chairman
Safe Harbor Disclosure
The information in this press release contains forward-looking statements regarding future events or the future financial performance of the Company. Please note that any statements that may be considered forward-looking are based on projections; that any projections involve judgment, and that individual judgments may vary. Moreover, these projections are based only on limited information available to us now, which is subject to change. Although those projections and the factors influencing them will likely change, we are under no obligation to inform you if they do. Actual results may differ substantially from any such forward looking statements as a result of various factors, many of which are beyond our control, including, among others, the timing and outcome of our feasibility study on our Cieneguita Project; the costs and results of our initial production activities on our Cieneguita Project; the future financial and operating performances of our projects; the estimation of mineral resources and the realization of mineral reserves, if any, on our existing and any future projects; the timing of exploration, development, and production activities and estimated future production, if any; estimates related to costs of production, capital, operating and exploration expenditures; requirements for additional capital and our ability to raise additional capital on a timely basis and on acceptable terms; government regulation of mining operations, environmental risks, reclamation and rehabilitation expenses; title disputes or claims against our existing and any future projects; and the future price of gold, silver, or other minerals. These and other factors can be found in our filings with the SEC. The Company undertakes no obligation to release publicly the results of any revision to these forward-looking statements to reflect events or circumstances following the date of this release.
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SOURCE Pan American Goldfields Ltd