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 prospecting...at 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...

Link to Full Story

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

Keep On Prospecting

Selling and Buying Gold Coins

Actual Gold in the form of metal is an investment that's both tangible and liquid. You can hold it in your hands; keep it in a safe deposit box or wherever you desire. Gold can be bought or sold easily and has been for hundreds of years.

Gold coins like the Canadian Maple Leaf, the Krugerrand, the America Gold eagle etc. can usually be bought and sold by going to a bank. Gold coins are one of the most popular forms of gold bullion available to the retail buyer.

These gold coins are made mostly or entirely of gold. For Instance, the Canadian Gold Maple Leaf coins are the world's most popular pure gold coin. Since their introduction in 1979, over 20 million troy ounces have been sold. As the first bullion coin to achieve the heightened standard of 9999 fine, the Gold Maple Leaf is available in five weights from one-twentieth of an ounce to one troy ounce. The Canadian mint our bullion products can be purchased through banks, coin dealers, foreign currency exchange offices, and brokerage houses worldwide.

Because these gold coins have face values they are money and thus can be bought and sold through banks etc. Obviously you do not want to sell a $50 1 oz Canadian gold Maple leaf for $50; you will sell it or buy it for the value of one ounce of gold at the time plus or minus handling fees.

Prices of gold and silver bullion products are based on international market rates which vary daily, as well as supply and demand. Be prepared for a reasonable premium to be charged over the daily spot quotations to cover manufacturing, transportation and distribution costs.

Getting a return of investments in gold follows the age old practice “ buy low sell high” meaning if you have gold that cost you say $700 per ounce 2 years ago and you sell today at say $1,100, you stand to make a $400 per ounce profit, in simple terms.

Remember in order to sell bullion coins minted with face values you do not have to send them to a scarp gold dealer. Take them to your bank first and get an opinion. Also, if you have rare or collector coins have, those evaluated by a good reputable coin dealer to get an idea of their value which could be much higher than the gold content.

Coming soon Selling gold Jewelry

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