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  • Strategic Metals Corp. Exit Only Inc. (EXTO.PK) Bayport Corp. Indicates Acquisition of Spring Sage Mineral Claims

    Written by: Dana Salvo

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    Exit Only Inc. (EXTO.PK)SANTA MONICA, CA-(-09/16/11)- Exit Only, Inc. (Pinksheets: EXTO.PK - News) today announced that its recently acquired Bayport Corporation wholly owned subsidiary, Cosmic American Rare Earth (CARE), Inc. has acquired the mineral claim rights of the Spring Sage Claims located in Sage Valley within the Salt Lake Meridian Township, Utah for 10,000,000 restricted shares. These claims can be found within the U.S. Department of the Interior Bureau of Land Management (BLM) database under the BLM’s Land & Mineral Legacy Rehost 2000 System (LR2000) for Utah under its subsidiary CARE, Inc. and other claims information below:

     Serial Number Quad      Claim Name      Claimant     Case Type    Section------------- --------- ----------      ----------   ---------    ---------UMC410712     SE        SPRING SAGE     CARE, INC.   384201       011UMC411607     SW        SPRING SAGE II  CARE, INC.   384201       011UMC411608     NW        SPRING SAGE III CARE, INC.   384201       011UMC411609     NE        SPRING SAGE 4   CARE, INC.   384201       011

    The Spring Sage claims are also placer deposits which allows for a more simple process of mining to be executed versus lode mining. The Spring Sage Claims account for 640 acres from assay results of 5 samples posted on Table 7 within an analysis done for the Utah Geological Survey by Chemix Labs in Sparks, NV. The Sample Numbers for the Spring Sage Claims are S-24, S-26, SV-2, SV-3, and SV-4.

    As defined by the International Union of Pure and Applied Chemistry (IUPAC), Rare Earth Elements (REEs) are made up of a set of 17 chemical elements within the Periodic Table of the chemical elements. These 17 elements are La (Lanthanum), Ce (Cerium), Pr (Praseodymium), Nd (Neodymium), Pm (Promethium), Sm (Samarium), Eu (Europium), Gd (Gadolinium), Tb (Terbium), Dy (Dysprosium), Ho (Holmium), Er (Erbium), Tm (Thulium), Yb (Ytterbium), Lu (Lutetium), Sc (Scandium), and Y (Yttrium).

    Within the U.S. Department of the Interior U.S. Geological Survey (USGS), a Scientific Investigations Report was done in 2010 indicating REE concentrations totaling 206.1 ppm from Mason and Moore in 1982; 205.2 ppm from Jackson and Christiansen in 1993; 159.9 ppm from Sabot and Maestro 1995; 184.3 ppm from Wedephol in 1995; 242.17 ppm from Lide in 1997; and McGill being as high as 214.9 ppm as indicated within Table 1 on page 5 of this Scientific Investigations Report. According to this report done by the USGS, the estimated average concentration of the REEs in the Earth’s crust that ranges from around 150 to 220 parts per million (ppm), exceeds that of many other metals that are mined on an industrial scale:

    http://pubs.usgs.gov/sir/2010/5220/pdf/SIR2010-5220.pdf#page=43

    From the Spring Sage Claims, mineral results from the indicated samples of Rare Earth Elements (REEs) in the crustal abundance of parts per million (ppm) are listed below:

     Sample Number  Total Parts Per Million (ppm)S-24           179.5 ppmS-26           241.6 ppmSV-2           250.5 ppmSV-3           161.8 ppmSV-4           145.4 ppm

    The WOW claims are also located in Sage Valley in the Salt Lake Meridian Township completely adjacent to the Spring Sage claims within Utah. The WOW claims can be found within the U.S. Department of the Interior Bureau of Land Management (BLM) database under the BLM’s Land & Mineral Legacy Rehost 2000 System (LR2000) for Utah under its subsidiary CARE, Inc. and other claims information below:

     Serial Number Quad        Claim Name  Claimant    Case Type   Section------------- ---------   ----------  ----------  ---------   ---------UMC409842     SW SE       WOW         CARE, INC.  384201      005UMC409842     SE          WOW         CARE, INC.  384201      006UMC409842     NE NW       WOW         CARE, INC.  384201      008

    The WOW claims, along with the Spring Sage claims, also brought about a concentration of REEs that exceeded the minimum standards for the estimated average concentration of the REEs that are required by many other metals that are mined on an industrial scale. The WOW Claims account for 120 acres from assay results of two samples posted on Table 7 within the analysis done for the Utah Geological Survey by Chemix Labs in Sparks, NV. The Sample Numbers for the WOW Claims are S-29 and S-38. From the WOW Claims, its mineral results from the indicated samples of Rare Earth Elements (REEs) in the crustal abundance of parts per million (ppm) are listed below:

     Sample Number Total Parts Per Million (ppm)S-29          357.3 ppmS-38          335.9 ppm

    Sample Number S-29 reflected the highest indication of REEs with a total of 357.3 ppm. In addition to these respectable levels of REE’s in Sample Number S-29, significant levels of gold was found in the previously announced assay report done by Advanced Laboratories, Inc. under LAB NO. 30255-01 that reflected .324 ounces of gold per ton. The close proximity of this WOW claims assay report being directly adjacent to the Spring Sage claims suggest this gold assay to be consistent throughout the entire area since being volcanic placer deposits.

    Silver and platinum were also present within this assay report, returning .277 and .005 ounces per ton respectively that we believe can be extracted at the same time of the gold extraction. To add, an Environmental Analysis was done by Enviropro Laboratories on Sample Number S-29 where the Analytical Test Results reflected a respectable amount of Titanium at 8430 ppm per ton within its magnetite sample.

    President of Bayport James L. Porter was quoted as saying, "We are all excited over this latest acquisition. Both the Spring Sage and WOW claims were originally chosen for the significant amount of Rare Earth Elements (REEs) that we believe are present, but having good amounts of gold and silver within the claims is an added plus. Having REEs totaling above the USGS standard of 150 to 220 parts per million ranges from both claims, exceeds that of many other metals that are mined on an industrial scale."

    Bayport is currently negotiating with several mining companies, Investment Institutions, and individuals to increase our presence in the mining community. Rare Earth and precious minerals and metals are very strategic and critical for the United States military, defense welfare and many new inventions. More details will be released when available to further explain Bayport Corporation’s interests in other newly acquired gold and REE properties to include other advancements from the company concerning their Sea Food and oil and gas operations. Assays, Geological Surveys, and other mining related information about the Spring Sage and WOW claims will be posted on the company’s website. The company has a team in place to get the company current with OTCmarkets.com and to update all issues needing administrative attention.

    About Bayport Corporation

    Bayport Corporation is a company formed to exploit the various precious minerals in the U.S. and Canada and to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport Corporation is a multi-faceted holding company active in strategic metals and precious minerals, energy production, wholesale seafood sales, natural foods processing, health and beauty products. The company is primarily focused on precious metals, rare earth, and other critical strategic metals. Bayport Corporation is developing mining properties with economic potential and the aim of bringing such properties to commercial production. The company’s portfolio of properties is primarily located in the prolific western USA in Nevada, Utah, Colorado, and Wyoming.

    September 16, 2011 @ 2:49 pm Trackback URL Posted in Hot Stocks and tagged with , , , , , , , , , , , .