Thursday, April 21, 2011

Going For The Gold

I read a very interesting press release today... it was good news for both of the companies working the Gold deposit and in advancing their exploration plans... cheers... yet it also helped to further highlight the value that can be achieved from a near surface gold deposit. The companies involved were doing this work to further prove the value of their deposit and not as a mining endeavor per say... 

But as a prospector I also see reason to think that finding something were you can make $197 per tonne of rock serves to provide a good stimulus to keep on today's gold prices you may not need to find the mother load to make a profit... if you could find a nice near surface deposit... that can be mined ...

A few years ago these grades were seen as lack luster... today it is a different story as the value of precious metals has changed considerably...   
Here are few lines of their press release and a link to the full story... 

Paragon and Crosshair Recover 314 Ounces Gold from Surface Bulk Sample at Golden Promise JV Project

Highlights of the program include:
  • 313.59 ounces of gold and 23.05 ounces of silver were recovered from a 2,174 tonne surface bulk sample;
  • a bulk sample grade of 5.59 grams/tonne (g/t) gold which is approximately 26% higher than the average block model grade of 4.42 g/t gold; and
  • Positive milling characteristics of the mineralized material.
After refining, the bars and the mill concentrate produced a total of 313.59 ounces of gold and 23.05 ounces of silver which were sold for net receipts of CDN$430,001.85 after treatment charges...

Not bad hey... later on they talk about how to improve the recovery...

Keep On Prospecting

Wednesday, April 20, 2011

Gold Price Hits Record High

Gold hits new record price as global economic fears push investors into seeking safe heavens.

Spot gold set a new record of $1,501.26 (£917) an ounce in Asian trading, underpinned by a weak dollar. Standard & Poor's downgrade of America's debt outlook on Monday sparked a new flight into safe-haven investments.

Spot silver hit a 31-year high of $44.34 an ounce. Brian Ostroff of Windermere Capital described silver as "gold on steroids" on Tuesday. Gold has gained 32% over the past year, while silver has more than doubled in value.

Full Story @, Wednesday 20 April 2011 07.44 BST