Viking Minerals Inc. http://www.vikingmineralsinc.com/index.php OTCQB is the venture marketplace for companies that are current in their reporting with a U.S. regulator, making it easy for investors to identify companies that are current in their reporting obligations.
7558 W. Thunderbird
Peoria, AZ 85381
Share Structure: Authorized: 400 Million
Outstanding: 151 Million
Float: 108 Million
Market Cap (2/4/13): $4.1 Million
Management and Technical Team
Dr. Allan Rosenthal, Ph.D, President and CEO Recently Appointed & Updated per 1/24 8-K
Dr. Rosenthal is a Ph.D. in Materials Science and Engineering, with expertise in both management and operations in the mining space. In addition, Dr. Rosenthal has a successful history of raising over $55 Million in capital for emerging growth companies working with several New York City based Finance firms. He will initially focus on enabling the Company to acquire mining and Oil & Gas assets. His technical expertise in the area of mining started while working for Hercules, Inc. where he developed strategies for manufacturing and marketing novel advanced composite structures and systems technologies to the Department of Defense and private Aerospace Companies. Mr. Rosenthal has been the principal partner at Competitive Edge Consultants of Cherry Hill, New Jersey, a business services consulting firm, which provides services to emerging growth businesses such as business plan writing and execution, and capital raises through a proprietary group of asset based Lenders and Equity based Investors.
Charles Irizarry, CFO
For the past five years, Charles Irizarry has been engaged in the resource sector, managing and directing resource exploration companies. Since 1995, Mr. Irizarry has been president of a private consulting firm that provides management support and consulting advice to junior resource companies. From 2005 to 2008, Mr. Irizarry was the President of a coal exploration company that was engaged in the exploration of coal properties in Mexico. Mr. Irizarry studied business in state college and is completing his Masters in Business Administration. Under the direction of Mr. Irizarry, the Company plans to expand its business to seek high quality resource projects with good exploration and production potential.
Recent Aquisition of Discovery Day Gold Mine
PEORIA, AZ, Jan. 17, 2013 /PRNewswire/ - Viking Minerals Inc. (VKML-OTCBB) announces on behalf of the Board of Directors that the Company has concluded the acquisition agreement for the Gold Mine in Northern California.
The Mine consists of 48 Claims and covers an area of 950 acres Which has Proven Ore, Probable Ore, and Geologically inferred resource along with a qualifying report NI-43-101. According to one of the geological reports the total geologically inferred resource is 1,165,000 ozs of gold in 4 major veins, number of known veins is 6, and Reserve Valuation is around $ 225,000,000 USD, at $ 1500 per ounce. The mine building cost was $5,000,000 USD along with 100 ton/day mill on site and fully permitted until 2016.
The Discovery Day Gold Property a Production Ready California High-grade Gold Mining District
Property Description -One of California's premier underground high-grade mining properties is available for purchase or joint venture. The Discovery Day Gold Property consists of 48 unpatented BLM mining claims covering over 950 acres of land and encompassing the entire prolific Knownothing mining district. The Property is located near Forks of Salmon CA., approximately 75 miles west of Yreka. The claim block contains 5 historically producing mines - the Discovery Day, Gilta, Hansen, Knownothing and Jeannette. As a group this collection of mines has produced over 60,000 ounces of gold, and were considered some of the most valuable in the state.
The Discovery Day Gold Property is a permitted production-ready hard rock gold mining operation with the 5 underground mines, extensive infrastructure, operational mill, support facilities, explosives magazines, and all underground and surface equipment necessary for operations. Also located on the Property is a 20 person man camp, miner's dry, generator and air compressor buildings, two management offices, workshop, and an employee lounge and kitchen equipped with satellite TV, telephone and internet. In addition to the 5 mines, a fully operational 100 ton per day mill is located on the Property. The mill consists of a 12 ton per hour crushing circuit with a 6"x12" jaw crusher, 12" cone crusher, 6'x22" conical ball mill, classifying screen, duplex jig, Deister triple deck table and a Wilfry finishing table. There are two tailings ponds and a lined water supply pond. The mill facility also includes a fully equipped assay lab and smelting room.
Operational Status -The Discovery Day mine was in production as recently as the spring of 2010, when a tragic accident claimed the life of the mining supervisor. Operations at the mine were suspended pending the accident investigation and the public company funding the project abandoned the JV due to liability concerns. The owners have since addressed all of the pending issues stemming from the accident and are preparing the mine to re-commence operations. An entire permitting and start-up summary was to be available to any buyer.
Geology -There are at least 5 known high grade quartz veins located on the property. These structures pinch and swell in width ranging from a few inches to over 15 feet and contain high grade ore shoots. Historical data indicates "bonanza" ore shoots with lengths of 80 to 150 feet and up to 450 feet in height. Gold grades from past operations are reported to range from 2.7 ounces per ton up to 37 ounces per ton. One historical mill report (copy available upon request) from 1996 recorded 43 tons of ore milled that averaged 37.4 ounces per ton .The most recent mining efforts in 2010 were focused on two production headings and one development heading in the Discovery Day Mine. Increased ore production is anticipated from the re-opening of the other mines on the property. A Canadian Instrument 43-101 technical report was written for the property in 2009 and is available below.
The Discovery Day Gold Property is one of only a few permitted, production-ready properties with an on-site mill available in California.
Link to National Instrument 43-101 Technical Report: