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More on SELR
It's imperative that you have SELR on your watch lists. SELR has only been active for about 3 days, and with no major rally yet, one may be around the corner!
If you missed the chart in my previous email here it is again: http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=selr&sid=0&o_symb=selr&freq=7&time=3
The price of gold is currently at its historic, all time high. The gold price climbed to a new all-time high this week, hitting $1,368 per ounce!
Gold and silver exploration and mining have become one of the hottest market sectors.
Bart Melek, a global commodity strategist at BMO Capital Markets said, "Gold has the potential to go to $1,600 (an ounce) within a year or so."
"Adjusted for inflation it should be well over $2,000 now. When I say something like it's going to 2,000 in 10 years it's not a very dramatic statement given the state of the world. I'm sure it's a given."
SELR is working to become an active gold producer through exploration, acquisitions, mergers, and by developing its existing portfolio of properties.
SELR announced in early August that they have entered into a Letter of Intent to purchase Nevada Mine Properties II, Inc. (NMP), an exploration company with nine properties located in Nevada and Idaho.
SELR CEO Scott Dockter, CEO, commented saying, "I am very impressed with this property portfolio. Many of these projects have drilling completed and follow up targets identified. These are properties that are located on trend or in proximity to major mining projects."
"For example, the LB/Vixen Project located approximately 5 miles from Allied Nevada Gold Corp.'s Hycroft Mine, which, according to alliednevada.com, is currently producing at a rate of approximately 100K ounces of gold and 300K ounces of silver per year. Another example is the Gutsy project which is located on the Carlin trend about 1 mile north of Newmont's Rain Mine complex that has a reported resource in excess of 4.5 million ounces of gold."
The land package being acquired consists of 270 claims, totaling 5,400 acres and two royalty properties. 4 projects are situated directly on the Battle Mountain Trend and 1 is situated on the Carlin Trend.
The Carlin Gold trend is one of the world's richest gold mining districts!
The US is the world's second largest gold producer and 8 out of every 10 ounces comes from Nevada.
SELR is working towards becoming an active gold producer in the state of Nevada.
SELR's current ensemble of exploration properties includes 600 acres in the historic Comstock District, 2,300 acres near the Denton-Rawhide Mine, and its pending acquisition of rights to 145 acres adjacent to Newmont's Phoenix-Fortitude Mine.
The Comstock Tyler, sits on the historic Comstock Lode in one of the most prolific precious metal regions in the world!
The Comstock Lode produced in excess of 6.9 million tons of ore. A first round of samples were taken at the Comstock Tyler. Sampling included assayed gold value of .19 ounces per ton and silver value of 1.895 ounces per ton!
The Fairview Hunter project consists of 2,300 acres located about 60 miles East of Fallon, Nevada.
Fariview Hunter is situated in an area with significant mining history and is especially interesting due to its proximity to the historic Wonder mine and the Denton Rawhide Mine.
The two projects are located in a predominately silver producing region and have produced in excess of 1.5 million ounces of gold and 17 million ounces of silver!!
SELR's subsidiary, Steele Resources, Inc. has entered into an LOI with America's Gold Exploration, Inc. to acquire rights to the Filipinni and Plumas Gold Exploration projects, located in immediate proximity to Newmont's Phoenix-Fortitude Gold Mine.
Newmont Mining Corporation (NYSE: NEM) is trading over $60 a share!
According to historic assay data acquired with the Plumas project, the property was mined in the early 1900s for high grade gold located near surface.
Recent preliminary testing of visible breccia outcrop revealed gold values as high as 1.2 ounces per ton!
The Filipinni gold exploration project was drill tested by Barrick Resources in the 1980s. The drilling data and assay certificates from that drilling indicates they intercepted multiple gold and copper mineralized zones including approximately 40 feet of gold mineralization at .304 ounces of gold per ton and 20 feet of copper mineralization of 1.83%!
These higher grade zones were surrounded by grades of gold and copper ranging from .01 to .04 opt gold!
The Company believes this mineralized zone is a copper and gold skarn that may be related to the deposit at Newmont's Phoenix-Fortitude pit, which was originally reported at 8+ million ounces in gold reserve!
SELR CEO Scott Dockter stated, "The price of gold is currently at its historic, all time high. Steele Resources Corporation is aggressively working to identify and acquire projects that are sufficiently advanced to allow for the near term evaluation of their potential for production. If the LOI conditions are satisfied, adding these two excellent projects to our portfolio is a significant step towards this goal."
World investment in gold nearly doubled in 2009 and as of this year it has risen each of the last nine years increasing in value by nearly five times its 2001 price.
For more information on SELR, visit their website at: www.steeleresources.com Always do your own research and consult with a financial professional.
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