Gold American Mining Corp. (SILA.OB) is a publicly traded precious metals
exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential.
Based in Reno, Nevada, SILA has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.
** (SILA.OB) Gold American Mining Corp. Signed an Option Agreement on High-Grade Silver-Gold Property in Sonora, Mexico
In addition, SILA recently reported it has signed an option agreement to acquire a 100% interest in the high-grade silver-gold La Escondida Project located in Sonora State, Mexico.
The La Escondida property is comprised of two mineral concessions that cover 439.8 acres approximately 124 miles northeast of the city of Hermosillo in Sonora State, Mexico.
The surrounding region has seen significant recent activity by foreign mining companies.
Nineteen miles to the northeast of the property is NYSE-listed Yamana Gold Inc.’s Mercedes project, a development stage gold-silver project expected to start production at a rate of approximately 120,000 gold equivalent ounces per year from 2012.
Eighteen miles to the north of SILA’s La Escondida project is the Oroco Resources Corp.’s Cerro Prieto project, which recently reported 383,833 ounces gold and over 6 million ounces of silver reserves.
“The La Escondida project is a valuable addition to our growing project portfolio,” commented Johannes Petersen, President of Gold American. “It has an exciting potential to host a gold-silver deposit and the property’s infrastructure is excellent. A sampling program carried out at the end of 2009 showed that the property contains multiple targets with high-grade silver grades and good values of gold and lead. Several of the target zones remain open in at least one direction, and it has been determined that historic workings reached only the 30 meters depth level. These findings are significant in that there is the potential, with additional exploratory work, to show mineralization over much greater strike lengths and depths,” added Mr. Petersen.
For more information about this company please visit http://www.gold-american.com/
Fronteer Gold Inc. (AMEX:FRG) intend to become a significant gold producer.
FRG solid financial position and strong operational team give us the ability to advance our key gold projects through to production.
FRG future potential production platform includes our Long Canyon, Sandman and Northumberland projects - all located in Nevada, one of the friendliest gold-mining jurisdictions in the world.
**Drilling along northern extension intersects 44.2 metres of 10.14 g/t gold at Long Canyon, Nevada
FRG recently provided an update on exploration and development activities at its Long Canyon gold project, including the reporting of significant intervals of high-grade oxide gold intersected northeast and southwest of the current resource area.
Long Canyon, Sandman and Northumberland gold projects comprise Fronteer Gold’s development platform in Nevada.
Long Canyon’s 2010 program is multidisciplinary and focused on resource definition and expansion, as well as metallurgical, engineering, and environmental work necessary to advance the project toward production in the near-term.
For more information about this company please visit http://www.fronteergold.com
New Gold, Inc. (AMEX:NGD) is an intermediate gold mining company with the Mesquite Mine in the United States, the Cerro San Pedro Mine in Mexico and Peak Gold Mines in Australia.
The company is expected to produce between 330,000 and 360,000 ounces of gold in 2010, growing to over 400,000 ounces in 2012.
In addition, New Gold has a strong portfolio of development and exploration assets in North and South America.
**New Gold Announces 2010 Second Quarter Results with an 82% Increase in Cash Flow from Operations to $38.8 million
NGD recently reported financial and operational results for the second quarter of 2010.
NGD had an excellent second quarter with gold sales of 82,402 ounces at a total cash cost(1) of $491 per ounce, net of by-product sales, resulting in earnings from mine operations of $35.9 million and cash flow from operations of $38.8 million.
NGD is also pleased to reiterate its 2010 full year guidance of 330,000 to 360,000 ounces of gold production at a total cash cost(1) of $445 to $465 per ounce sold, net of by-product sales.
For more information about this company please visit http://www.newgold.com
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