AXcess News: Junior Alaska Gold Mining Company Prepares for Production
Press Release Source: AXcess News On Tuesday September 21, 2010, 6:00 am EDT NEW YORK, NY--(Marketwire - 09/21/10) - Silverado Gold Mines Ltd. (OTC.BB:SLGLF - News) is preparing to go into production at its Nolan project in Alaska. The company's NI 43-101 amended report from June 2009 recommended a 200 ton per-day mill, though development work to expand gold resources will commence first.
According to Silverado Gold's 2009 Annual Report, the company has spent close to $36 million on the Nolan Project since first acquiring the claims in 1979 that comprise 12 square miles and have completed an impressive amount of pre-development work that includes a complete mining camp capable of housing 23 miners, including a high-capacity well in nearby Wiseman, Alaska which provides fresh drinking water for the community as well as the Nolan Camp. Considering how much development has gone into the preparation of the Nolan mine, outside of a drilling program to expand on its gold resources, only the mill would be needed to commence production.
So far Silverado Gold has been quiet about its development plans outside of information found in its Annual Report and NI 43-101 geologists report, though in picking through those disclosure documents one can understand why.
According to the NI 43-101 report, the preparing geologist said, "The average gold price in 2008 was $865 per ounce." But with gold bullion setting record prices for the third day in a row Monday, gold is now $1280 per ounce and many precious metals analysts are forecasting $1300 gold by the fourth quarter.
In a story published by AXcess News earlier this month we noted that expenditures on gold production in Canada dropped 47% in 2009 while in Nevada, the 6th largest gold producer in the world, expenditures fell 15.5%. Commodity prices and demand were at the root of those cutbacks in the wake of the worst recession seen in decades. But now investments are expected to surge in the second half of this year as prices and demand have returned to the marketplace. That places Silverado Gold in the right position to move forward on its Nolan Project.
SLGLF reports that its probable reserves are 42,400 tons of ore with an average grade of 0.408 ounces per ton, or 17,300 ounces of minable gold. An additional 2,841 ounces of indicated reserves were also reported, though the company's property could well prove to extend those resources further once drilling commences in the second quarter of 2011.
While Silverado Gold Mining Ltd's Nolan Project may seem small at a 200 ton-per-day production rate, the mill capacity can most likely be expanded once additional ore bodies are developed. Yet in preparing for production, the Company is coming into the marketplace at an ideal time when bullion prices are at record levels and production rates have yet to catch up. A formula like that could mean a win-win for both investors and Silverado Gold Mining Ltd.
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: Fed steht zum Kampf gegen Deflation bereit
Die US-Notenbank wird notfalls noch mehr Geld in den Markt pumpen, um einem Preisverfall zu begegnen. Zugleich beließ der Offenmarktausschuss den Leitzins auf einem Rekordtief - die Wall Street zieht ebenso an wie die Gold-Notierungen. mehr
Silverado Gold Mines Ltd. (SLGLF) has committed over three decades of work to the exploration, development and test mining of gold properties throughout North America. In the mid-1980s, the Company decided to focus its efforts in Alaska. SLGLF has extensive experience in geological, geochemical and geophysical exploration techniques. The Company?s mineral holdings are located in the Fairbanks Mining District and in the Koyukuk Mining District, consisting of both lode and placer mining claims. At the present time, the primary focus is the exploration and development of the Nolan Gold Project and the Hammond property located 175 miles north of Fairbanks, Alaska. SLGLF also is continuing with exploration activities on the Eagle Creek Property and the Ester Dome Project, which are both located in the Fairbanks Mining District. The Combined Probable Reserve and Indicated Resource Metal Value is 54,451 tons, or approximately $73.3 million in antimony and $20.8 million in gold, subject to estimated pricing and other assumptions outlined in detail in the NI43-101 available at the Company website. There is 34,206 tons of additional inferred resource and SLGLF has identified at least one sub-parallel system indicated on the property. Silverado Gold Mines LTD is a mining exploration enterprise on the verge of entering ?Production Phase? for their Nolan project. The Company has spent approximately $36 million acquiring, exploring, and test exploration on the Nolan Gold Project. According to CEO & President Garry L. Anselmo, the company is very close to disclosing their plan to initiate production
Investor Alert: China to Control Rare and Essential Minerals ? An Inside Look at Antimony and Silverado Gold Mines (SLGLF) Mineral Company Prospects Northgate Minerals (AMEX: NXG) a promising prospect is producing cash yet still has room to grow as they continue to mine gold and copper. Silverado Gold Mines Ltd (OTCBB: SLGLF) a junior minor poised for production (EMAILWIRE.COM, November 19, 2010 ) San Diego, CA - The mineral known as Antimony, is vital to the global production of essential items, and now China wants to tighten control and limit availability to other nations. There are only a few Antimony depositories outside China and one of the largest in found in Alaska, owned by a company called Silverado Gold Mines Ltd. (OTCBB: SLGLF).
Antimony is scarcely produced in America, and only a few domestic deposits are capable of production within a timeline conducive to capitalizing on China's stranglehold on the market. In an August 31, 2010 release Silverado quoted a U.S. Geological Survey (USGS) that shows China produced 170,000 tonnes of antimony out of a total global output of 187,000 tonnes in 2009. Talk about a monopoly.
Silverado Gold Mines Ltd. seldom speaks of their antimony reserves, as few investors understand the resource. According to Martin Hayes, chief correspondent of TheBullionDesk.com (a London metals trading company) -- the antimony markets advanced from $4,000 USD per tonne in early 2009 to $9,800 per tonne in July 2010. The NI 43-101 resource report from Silverado Gold Mines on Nolan Creek, which provides an insight into resources in a selected drilling section, shows significant indicated and inferred antimony and gold resources.
Global shortage of rare and essential minerals that are the main components used in the critical production of emerging technologies strengthens China?s monopoly.
These rare and sparsely available minerals include beryllium, cobalt, fluorspar, gallium, germanium, graphite, indium, magnesium, and most notably -- antimony. These minerals are predominantly available and mined in China, and the Chinese are the world?s biggest consumer of antimony, though it is also highly demanded component in the US, Europe and throughout the world.
China now plans to tighten control by only allowing state owned companies to mine these minerals, putting the Chinese government in complete ownership of these elements, furthering restrictions on export.
Now the US is thinking of taking over the issue from the European Union (EU) as it mulls options to take the case to the World Trade Organization (WTO). The U.S. Congress ordered a study of alternative sources because of the American military?s dependence on China?s supply of rare earth minerals.
The report furthered stated the European Union has joined the bandwagon with a report published warning of a shortage of 14 materials with 11 of them being rare materials found mostly in China. A group of experts has warned about the shortage of antimony, beryllium, cobalt, fluorspar, gallium and others. This is leading environmental ruin and chaotic development.
Several macroeconomic circumstances favor Silverado Gold Mines Ltd; namely the price of gold, which recently soared to record highs, and the emerging market for antimony with an utter lack of domestic availability. The corresponding price increases in Silverado's (OTCBB: SLGLF) resources increase feasibility of their mining projects. As noted in a prior editorial, Ester Dome (where Silverado also owns mining claims) has already attracted the attention of Agnico-Eagle Mines (NYSE: AEM).
Their are few Antimony mines located outside of china.One of the largests is owned be Silverado. "Antimony" is vital to the global production of essential items, and now China wants to tighten control and limit availability to other nations!
Antimony is scarcely produced in America, and only a few domestic deposits are capable of production within a timeline conducive to capitalizing on China?s stranglehold on the market! (Silverado is poised to capitalize) "Talk about a monopoly" !!
As noted in a prior editorial, Ester Dome (where Silverado also owns mining claims) has already attracted the attention of Agnico-Eagle Mines (NYSE: AEM).
The Major U.S.A mining companies will be looking to cut deals with Silverado.
Taking the above information into consideration , It is possible to categorize SLGLF as a "Likely" TAKE-OVER candidate!!
bin schon ne weile hier Investiert, ganz ehrlich seit meinem Invest 50% Verlust, aber hier kanns ganz schnell nach oben gehen von daher mach ich mir wenig sorgen um mein eingesetztes Kapital, ist ein sehr interessanter Trade ;)
Vancouver, BC, January 11, 2011 ? Silverado Gold Mines Ltd (OTCBB: SLGLF) (Frankfurt: SLGL) (the ?Company? or ?Silverado?) announced today the release of a 36 page report on the Company?s 100% owned and operated Nolan Creek gold and antimony mine. To view the report, click here.
?The report summarizes certain information gathered to date on the Nolan project,? stated Garry Anselmo, President and CEO of Silverado. ?The key to understanding the report is to review the cross references when you come to them. This will have the effect of walking the reader through the property.?
The Nolan Creek gold and antimony mine is located in Arctic Alaska, approximately 280 miles north of Fairbanks in the historic Koyukuk Mining District.
ABOUT THE COMPANY
Silverado Gold Mines Ltd, a publicly traded company, is an exploration-stage enterprise focused on the exploration of gold properties with some past production. The Company has gold properties located throughout Alaska, which include a 100% interest in numerous mining claims located on the Nolan Creek property.