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Nov. 26, 2012 /PRNewswire/ -- Micron Enviro Systems, Inc. (MSVS.PK), (soon to be known as Britannia Mining, Inc.), announced today the significance of the proposed merger with Britannia Mining, plc. "We believe Micron shareholders are beginning to understand the magnitude of the relationship with
Britannia, however we wish to keep the investment community as informed as possible," stated Kenneth Roberts CEO of Britannia Mining and Micron Enviro Systems. "The strategic relationship between Micron and
Britannia has opened many doors for new and existing projects, allowing us access to more investment capital and to fast track the next phase of the company's development and growth."
In addition to exploring Micron's gold claims in the
Britannia's Nthale iron ore project is poised to propel the company to the front of the mining industry. With an estimated 4.5 million tonnes iron ore located at the surface of Nthale Hill, from the results of recent fieldwork, this area alone has been identified geologically as a significant body of ore within 20 sq km. Over the total licensed area, 650 sq km, the magnitude of the potential extensions to the primary ore body, has geological potential for the discovery of exponential resources.
Once extracted, 4.5 million tonnes iron ore has a gross market value of
"It is important to note that before the merging of our two organizations, Micron was simply a development stage company with little access to significant revenue streams and capabilities of this scale," continued Roberts. "Now, with the mining development focus of
Britannia, our financiers, strategic partners and longtime supporters, the eventual merged company can now bring significant growth opportunities to fruition."
At this time, the Company seeks to ratify the merger and transition Britannia Mining into Micron. This can only be accomplished with a shareholder's vote. Roberts concluded, "We urge Micron Shareholders to come forward and vote.
Britannia offers long-term, sustainable value to the company and we look forward to serving our new Micron shareholders with the expertise our
Britannia team brings to the table."
About Britannia Mining
Britannia Mining is an explorer and developer of mining projects. The company is developing a high grade iron ore project in
Malawi and holds an Exclusive Prospecting License (EPL) for iron ore over 650 sq km at Nthale, Blantyre. From magnetic imaging studies that have been completed over a test area of 20 sq km, the company has located a number of ore bodies that indicate this 20 sq km area could yield upwards of 40 million tonnes iron ore. The company intends to mobilize a drilling program, where upon completion the data will provide a resource definition of the 20 sq km test area.
Britannia Mining is in talks with a number of potential partners to implement a near term mining plan at Nthale Hill.