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CSI.v Colossus Insider sells $1,925,156.00
CSI.v Unbelievable numbers. How rich is this deposit?
The company reveals that assay results from drilling consistently return remarkable grades of gold and PGMs over significant widths (SPD-055: 52.43 metres at 18.57 g/t gold, 8.34 g/t platinum and 11.33 g/t palladium and SPD-034: 70.70 metres at 53.59 g/t gold, 20.77 g/t platinum and 31.30 g/t palladium).
And no NI43 101 resource report like GORO. Are there any good figures as to the size of the total resource? Rumored their trying to keep a low profile and with these grades it would be hard to get accurate results over a large area anyways.
Like to catch this one on the curve getting closer to production and avoid more sideways trading.
That was interesting
GWA GOWEST GOLD MORE THAN DOUBLES ITS TIMMINS AREA LAND HOLDINGS
TORONTO, ONTARIO, Apr 26, 2011 (MARKETWIRE via COMTEX News Network) --
Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE: GWA)(OTCBB: GWSAF)(FRANKFURT: 1GW) is pleased to announce it has entered into an Option and Joint Venture Agreement (the "Option Agreement") with Transition Metals Corp. ("TMC") to explore and earn an interest in an additional 3400 hectares (34 square kilometres) in the Porcupine mining district (the "Pipestone Property"). The majority of the Pipestone Property is located on the Pipestone Fault and along strike from the company's developing Frankfield Project. Pipestone Fault like structures are critical for controlling gold mineralization in the Abitibi region including that at the Frankfield East deposit and other gold deposits in the area such as Clavos to the southeast. Gowest's Frankfield East deposit appears to be part of a larger structurally controlled gold-hosting system and will be the subject of an updated resource estimate in the coming weeks. The company will announce a conference call to be held in connection with the release of this estimate.
Further to the Option Agreement, Gowest increases its total exploration property interests to approximately 6000 hectares (60 square kilometres) along the largely undeveloped Pipestone Fault in the Timmins camp. It is the Company's interpretation that the Pipestone Fault is a splay off the prolific Porcupine-Destor Fault, the source of in excess of 70 million ounces of historic gold production. Through its ongoing work at the Frankfield project, management of Gowest has developed an intimate understanding of the regional geology and effective methods for identifying high priority gold targets. The Company's land package now includes a contiguous block of claims extending approximately 20km along the Pipestone Fault from the Frankfield East deposit southeast towards the Clavos deposit which contains a NI 43-101(i) compliant gold resource of 37,000 ounces measured and indicated and 110,000 ounces inferred.
To view the Timmins Area Map - Frankfield Property and Location of New Pipestone Property, please visit the following link: http://media3.marketwire.com/docs/Timmins_Area_Map.pdf.
Greg Romain, President and CEO of Gowest, commented: "We are excited to be able to announce this transaction along with a working relationship with Transition Metals under this agreement. The members of the management team at Transition Metals have years of experience working in the area and their knowledge will be invaluable in advancing exploration on the properties." Mr. Romain further commented: " As Gowest has furthered its understanding of the area geology and has experienced sustained exploration success at Frankfield East other companies have begun to take an interest in exploring within close proximity of our Frankfield Project. The company continues to see this interest as a validation of our own belief in the growing potential of the area. The new acquisition now cements our position as a leading player in the area, the value of which will only be enhanced and accelerated by ongoing success at Frankfield East. The Frankfield East gold deposit has the potential to be one of the most significant new deposits in a long time in a previously unmined area of Timmins."
Shares are in strong hands now. New base formed. Would love to see 10 million shares. That news will travel.
Starting to get some attention!! Volume increasing as investors become comfortable that the company is making real forward progress.
These guys work the trenches plus their in the right places at the right time. No bankers running this deal.
Trapper, You like to call? Call Mr Chaffee. Name is Mike. He is glad to talk. I have more than once, and can say with confidence, they have lots more to talk about in due time.
Checkmate
AUN Ill go with AUN has thought this out with all their legal consul and does not need the money. Im sure they weighed in on the possible law suit before they made the decision. They also were not forced to make these decisions because of lack of cash. They are in the drivers seat doing whats best for the share holders and I commend them for this in sticking their neck out like that.
Just my opinion Time will tell. Think I'm going to add
News!!! Revenues Western Sierra Reaches Preliminary Agreement to Develop the Silver Cord Mine
PRESCOTT, Ariz., Apr 18, 2011 (GlobeNewswire via COMTEX News Network) --
Western Sierra Mining Corp., (Pink Sheets:WSRA) said today that it had reached a tentative agreement with the owners to develop the Silver Cord mine located in central Arizona.
The Silver Cord is a historically producing underground silver mine with some 800 feet of developed tunnels driven on a relatively flat silver vein. The vein structure carries minor amounts of gold and copper.
Western will first map and sample the mine while making initial recommendations for operational safety. Western will then oversee any mine modifications that may be necessary to work underground and initiate the appropriate permit applications.
In addition to the hard rock claims, there is an adjacent placer claim that will also be looked at in terms of commercial development.
The overall mine development program will be divided into separate phases, each new phase subject to a mutually agreed budget with the work being billed on "a cost plus" basis. It is anticipated the first phase will be initiated during the second quarter of 2011.
About Western Sierra Mining Corp
Western Sierra Mining is an aggressive gold and silver exploration and mining company focused on the historic mining districts of the Bradshaw Mountains of Arizona with additional areas of interest in Nevada and Mexico.
Statement Concerning Forward-Looking Information
Certain information set forth herein contains "forward-looking statements" within the meaning of the federal securities laws. The word "estimates," "expects," "anticipates," "forecast," "plans," "intends," "believes" and variations of such words or similar expressions are intended to identify forward-looking statements.
The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis but there can be no assurances that management's expectations, beliefs, and projections will be achieved or accomplished.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Western Sierra Mining
CONTACT: Mr. Michael Chaffee 928-680-5513 Mr. Dennis Atkins 405-330-8395
Albacora LOL The deal now days is yesterdays left overs are todays lunch, I mean gold mine. Its happening all over Canada today as well. Those larger companies hit the the areas when POG was much lower. End of 08 saw 7-8hundred dollar Gold. They can make a profit now with 1 gram per ton. The hopes are they make a little money, score a deal or 2 and get the market cap up to 8 - 10 million.
You got me wanting to catch a tuna. LOL
OT twtybrd I cant reply to PM My email should be on my profile
Dude the NI43-101 is a big deal even to a US company.
When I see a company has an official NI43-101 Independant resource report, I know the resources are not some internal BS reported by the company to sell shares, but are in fact independantly verified and regulated to protect investors. They are also usually conservative. I can bet the info is correct. WSRA is one of the companies that is licenced to create these reports. To me, that means, that they have some real credibility and knowledge. They should be able to do a good job for themselves when anilizing propertys for acquisitions don't you think? That along with their mobile lab.
For that fact and to prove to financers and banks, the resources are really there, even US companies get the reports. They will even pay to get these reports for internal reasons to see if there is enough gold there to make a property worthwhile for further investment.
NI43-101 Reports are a very good official report to have.
Below is the definition from wikipedia
http://en.wikipedia.org/wiki/National_Instrument_43-101
Plainly put, the purpose of the National Instrument 43-101 is to ensure that misleading, erroneous or fraudulent information relating to mineral properties is not published and promoted to investors on the stock exchanges overseen by the Canadian Securities Authority.
National Instrument 43-101 (the "NI 43-101" or the "NI") is a mineral resource classification scheme used for the public disclosure of information relating to mineral properties in Canada. The NI is a strict guideline for how public companies can disclose scientific and technical information about mineral projects on bourses supervised by the Canadian Securities Administrators.
EOM Thats the deal, a possible JV as an operator to get to those millions. WSRA has the knowledge to get it done, they know the mine well, they just need the other partner to bring in some cash. Im hoping they can sell another property or do something with the sale of the last property's to get that done. They are talking with many possible candidates as I've heard directly from the company.
Sorry the cut and paste is sloppy. Thought I was helping. Just follow the link.
The company needs a good press release to move the price here. Lot of people on the sidelines. Could be release any day on progress of any of the below milestones. Pretty good summary for 2010
http://www.westernsierramining.com/ShareholdersReport123010.pdf
Shareholders Update
For the Period Ending
December 31
st
, 2010
The following is a brief overview of the current status of Western Sierra Mining for the
period ending December 31
st
, 2010 This summary of the period should be viewed in
conjunction with the previous reports filed with the Pink Sheets, press releases, SEC
filings and previous shareholder updates.
A Brief Overview
Western will report its 4
th
consecutive profitable quarter and looks forward to a profitable
2011. The sale of the Sun Gold and Treasure Gulch mines is now complete. Our
exploration program will continue during the 1
st
quarter 2011 along with our efforts to
procure outside mining contracts for property evaluations and permitting issues on behalf
of other individuals and mining companies. We continue to look for joint venture
partners for other mines currently in our inventory as well as those that may lie currently
outside our asset base but as a mining contractor.
During the operating period 2010, we have significantly expanded our exploration efforts
in Central Arizona. As a direct result of this effort, Western will announce during the
first quarter of 2011 that we have acquired several new mining properties from the State
of Arizona, BLM and FS. The total acreage will be in excess of 1200 acres.
Western has designed an expanded exploration program for 2011 and will concentrate on
developing its own mineral properties such as the Goldwater and Independence.
2010 Milestones
• Completed the sale of Sun Gold and Treasure Gulch to VHGI Holdings
• Completed National I 43-101 on the Sun Gold Property
• Expanded exploration activities
• Completed preliminary exploration on 4 resources properties now being readied
for acquisition
• Entered into new Joint Venture agreement with Gold River Exploration to
develop the Gold Crown placer properties in Skull Valley, Arizona
2750 Cisco Drive South, Lake Havasu City, Arizona 86403
TEL: (928) 680-5513. FAX: (928) 680-7066
E-MAIL: wsrm@citlink.net or www.westernsierramining.com
Western Sierra Mining Corp. ARIZONA CALIFORNIA IDAHO MEXICO BAJA CALIFORNIA
• Developed initial proposals to tie the Goldwater, Eagle and Big Chief properties
to a single geological identity.
• Completed tentative design for a portable extraction plant suitable for testing
small placer or hard rock properties
• Filed a new hard rock claim in Sierra Prieta region of Arizona
Sun Gold/Treasure Gulch
On June 8
th
, 2010 we signed a formal agreement for VHGI Holdings to purchase the Sun
Gold and Treasure Gulch mines from Western. As part of the agreement, VHGI
engaged Western to construct a 43-101 report on the Sun Gold mine. Western has
completed and filed the NI 43-101 on the Sun Gold property and the sale was completed
on December 23
rd
, 2010. Western continues to provide engineering and geological
support to VHGI on a “as requested” basis.
Gold Basin
Western continues its active interest in the Gold Basin mine. Gold Basin is fully
permitted and bonded securing the reclamation process. We have worked closely with
Pine Creek Mining (PCM) and a variety of potential new owners to provide them with a
full operating budget including new equipment, mine site improvements and a general
operating budget in terms of man power requirements and disposables. Western has
performed a number of site visit demonstrations to potential investors over the last few
months.
We believe that in the event the mine is sold, Western will play some role in the long
term development of the mine under contract to the new owners. We are in hopes that
should the mine not be sold to an outside investment group that some agreement could be
reached with PCM for Western to operate the mine as a JV partner directly with PCM.
Gold River
In May 2008, Western concluded an agreement with Gold River Exploration wherein the
Company acquired several mining claims located in the Bradshaw Mountains in Central
Arizona. In an effort to develop these various properties, we continue to search for joint
venture partners, investors, and outright sales to generate the capital required to develop
the mines for production.
In addition to this effort, Western is working closely with Gold River Exploration to
develop several other mining properties held by Gold River and Pine Creek. These
properties are currently undeveloped and un-permitted, potentially large gold and silver
deposits located in the Western United States. These properties will need additional
geology and engineering data that can be supplied by Western as we work toward
supervising the collection of 43-101 type data for both Gold River, Pine Creek and their
associated clients. ARIZONA CALIFORNIA IDAHO MEXICO BAJA CALIFORNIA
Gold River is also supporting Westerns efforts to locate and develop a mining property
suitable for the application of high grading techniques to recover both gold and silver.
Several properties have been evaluated and a small portable processing unit is under
construction with hope of being readied for deployment.
Blue Bell/De Soto
During September 2008, we entered into a lease option agreement with the owners of the
Blue Bell and De Soto mines. We have now completed our initial evaluation of the Blue
Bell with extensive sampling and laboratory testing and analysis.
We have recently discussed with the current owners the possibility to reinstate our lease
option agreement. We are also currently trying to conclude an agreement with a private
investment group to provide funding to drill a new access shaft to depth and extract a
water sample. Prior to the drilling program, Western has proposed to conduct an Induced
Polarization program to assist in evaluating the copper ore at depth and on strike. The
electronic surveillance program would also expose the sulfides in the mine water and
further define the drill hole location and target.
Recent discussions with the State of Arizona in regards to the issues relating to handling
of the water currently in the mine have generated new and financially challenging
hurdles. We have proposed several possible scenarios and are working to find a
mutually viable solution.
Ongoing and New Projects
Over the last several months, Western has endeavored to expand its asset base by
acquiring additional mining properties. We have worked closely with several public and
private mining companies including Gold Coast, Gold River Exploration and VHGI Gold
to provide access to new large scale mining targets. While the outcome of these
evaluations will eventually become public, Western does not comment directly on the
progress being made on any of the individual property development programs. This can
be for several reasons. In some cases we are bound by non-disclosure agreements from
the client and in other cases it is not appropriate to speculate on possible outcomes of
geological investigations prior to having a complete data package to present in support of
the aforesaid announcement.
There are also specific guidelines set out by the Securities and Exchange Commission as
to the disclosure and dissemination of exploration data.
During 2010, Western has looked at some 20 new mining properties over a wide range of
geological areas. Some of these areas are near the cities of Wilhoit, Wickenburg, Yuma,
Cottonwood, Cleator, Mayer, Crown King and Stanton all in Arizona. After a general
review of these properties we have selected 4 that fill a number of our objectives whether
we intend to use them for sale or development for our own objectives. The paper work ARIZONA CALIFORNIA IDAHO MEXICO BAJA CALIFORNIA
for the acquisition of these properties should be finalized in the next two to three weeks
and we will be able to discuss our intentions more definitively.
In addition to exploration work for others, we have recently begun to expand our
exploration efforts on our own properties primarily at the Big Chief, Independence and
the Goldwater. In the event funds become available, Western will have evaluated the
values of high grading gold and silver ores known to be present on these properties.
Western continues to see a rising interest in basic exploration and property certification
request. Since the first of the year we have performed evaluations on existing properties
in Nevada, California and Arizona. Most of these small certification efforts have been at
the request of either current owners looking to list the property for sale and need current
43-101 formatted information or those that are looking to acquire mining properties and
need outside and independent evaluations prior to purchase.
Sale of Assets
During the first quarter of 2010, we laid the basic ground work to either sell or Joint
Venture other mines in our asset portfolio including the Goldwater, the Independence,
and perhaps the Eagle.
Funds accrued from these transactions will be used to further the development of certain
Western mining properties and provide funding for continued mine acquisitions.
The Current Economics
The recent increase in the price of gold has certainly increased the value of our reserves
and has helped at the negotiating table as we search for financial partners for the
development of specific mines. The current price has also made the potential outcomes
of the mine development business models more profitable and so reduced the risk/reward
ratios. The problem of course is that the reason the price of gold has significantly
improved can be attributed, to a major extent, on difficulties encountered in the world
financial markets including the lack of liquidity at the commercial and private banking
levels. There has been a significant improvement in the numbers of people looking to
Western as a source to provide long-term security to their investment portfolios through
the acquisition of physical gold. The problem is that the values of their portfolios have
been reduced to a level where there is no longer sufficient equity left to secure the
funding regardless of the potential benefits.
It is true that certain properties that we considered marginal at $480/oz have become a
potentially viable development project at $1300/oz. Our production costs have remained
reasonably constant at near $300/oz for placer and $500/oz for hard rock. The problem is
that in order to meet those numbers the capital equipment cost has risen substantially and
the cost involved in permitting the production facility have also increased. The bond ARIZONA CALIFORNIA IDAHO MEXICO BAJA CALIFORNIA
required for mining projects has also seen increases as have the financial requirements for
initial exploration permits.
Permitting Federal lands has also become a major obstacle both in terms of time and
money. Depending on the project, 1-2 years is now a norm and not an extraordinary
event. In the event chemicals are required to liberate the metals from the rock, it may
create an impossible scenario. Then there are the issues of the individual states. For the
most part all have different project development requirements and different
environmental concerns that can make mining almost if not practically impossible.
Western continues to look for projects that can be worked on private or state lands where
environmentally friendly mining projects are seen as a major component for generating
revenue streams for the state and in support of creating jobs for all competency levels of
workers.
Legal Issues
Western is not a party to any legal proceedings.
Reporting Status
Our financial and corporate reporting will continue to be filed at Pink Sheets.com as will
any significant press releases for the present time.
As always, should you require any additional information or have any questions, you may
contact the office between the hours of 7:00 AM to 7:00 PM, MST Monday through
Friday. We will do our best to return your calls
Vladimirr Thanks, I had gone through all the WSRA previous press releases and came to the conclusion that about %80 of the facts and figures in the link were pulled from information in the WSRA press releases back to 08. It all matched verbatim.
Vladimirr You sound as you know that as fact? Where do you get your DD from?
I did my DD. Im %99.9 positive that the mine in the link is owned and operated by Pine Creek Mining, Inc, is for sale and is the same mine that was just press released by WSRA and is not another mine from the same neighborhood. WSRA has been working on this mine for a couple years and has an agreement to return the mine to production. We don't know the details but I think WSRA is in a position to JV it as the operating partner.
Western Sierra Confirms Agreement With Pine Creek Mining to Operate the Gold Basin Mine
PRESCOTT, Ariz., Feb 10, 2011 (GlobeNewswire via COMTEX) -- Western Sierra Mining Corp., (Pink Sheets:WSRA) confirmed today that it had reached an agreement with Pine Creek Mining to return the Gold Basin placer mine to production.
Michael Chaffee, CEO and President of Western Sierra Mining Corp., commented, "We have worked with Pine Creek on the Gold Basin mine for several years are now taking the next natural step. We have started work on a NI 43-101 for the property and intend to operate the existing plant for a short period while the larger plant and operation is constructed. We will recondition the holding ponds, upgrade the equipment and generally improve the overall operation. We will apply to expand the current permits and hopefully move the entire operation down stream early in 2012. Under the current agreement the mine will remain for sale while the new work is on going."
its correct in my post #2630 works fine
Tomas All the link work for me (just tried them) plus I copied and pasted all the info. Anyone else having problems with the links? Spent to much time already. Just go back several posts and follow.
Imperial Whazoo AUN.v
You might be speaking of the insider Nowitsky who was selling millions from .70 up past 1.00 and back down through March. Im sure he wanted to beat the others with the coming free traders to the sale. He either is leaving or has left the company already. He is either done or nearly done selling, but the company put out a press release to explain that awhile back.
The financing put I think 65 million in the AUN coffers and allowed AUN to purchase back the silver revenue stream (thus keep all the revenues from the LeNegra mine) from Silver Wheaton. The balance of the financing is for the upgrade of LeNegra to 2000TPD as you listed and to get the Shafter mine and infrastructure built out.
They also hired superman Dr Peter Megaw to be head of exploration for the company. Apparently he has tons of experience and knowledge of the area and can smell the scent of silver when the winds are low in the morning.
6 million oz silver equivalent production by 2013 is being claimed by the company and their are Rumors of upgrades to these numbers to be press released by the company soon. Also rumored are the fact that the permitting is going well with a couple permits almost through a 30 day waiting period after approval.
I think the total resource in all NI43 101 categories is 49 million ozs with a lot of upside potential.
As Bobwins just stated, they are already producing profitably at their LeNegra mine, so getting Shafter up should just be a matter of time. Guessing 14 more months to full production per PR's but there is scheduled to be some light production end of this year from piled concentrate that will boost the Company RATE to 3 million tonnes per year by end of 2012.
This is all from memory, so anyone feel free to correct me or add. It would be nice to get some dialogue going here. Im sure when the market feels the shares are free from games, AUN shares will be more persued and talked about. I think they will be valued at about $2 - $3 nearing full production.
Checkmate28
albacora follow back the link below and you will see the link I posted. The Gold Basin property has the Gold and WSRA is working on the offical NI43-101 resource estimate now and has been redying it for production for many months now. WSRA is probably looking to JV the property as the operating partner. They have many other properties, probably some announced. There is no free lunch like some people here think, but I did lay out the path and potential in several of my posts. Management is hands on and experienced with low overhead. The value here has been the low market cap and the potential to make something bigger happen.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61982371
Value I didn't see any NR for AUN.v ?
GoWest Gold GWSAF .35 Heads up. Blue light special.
They ought to be worth conservatively $90 in market cap per ounce (over .80/share)for a feasible 1,000,000 oz Gold mine with avg grades over 6 grams per tonne, open for expansion with good infrastructure and coming plans for producing 100,000oz/yr and a scoping study on its way. They've been hitting consistant great grades on nearly every hole.
The'll be a featured presenter at the Chicago resource expo this weekend and I'll bet we get a bump out of that crowd.
http://www.chicagoresourceexpo.com/
Great article here. Text below.
http://www.resourceintelligence.net/gowest%E2%80%99s-frankfield-gold-project-on-growth-trajectory-updated-43-101-resource-estimate-expected-in-march/16777
Greg Romain
President and CEO
Since acquiring 100% interest in the Frankfield East gold project in the prolific Timmins gold camp in Ontario in 2009, Gowest Amalgamated Resources (TSXV: GWA) has made significant strides in developing the property. Results of its 2010 drill program, which will be released this quarter, are expected to show a doubling of the potential from the initial 43-101 resource estimate of 0.5 million ounces to over 1 million ounces. Greg Romain, president and CEO, discusses Gowest’s plan to aggressively turn this gold asset into a firm and steady source of cash flow by as early as 2013.
Resource Intelligence: Could you update us on your Frankfield East gold project in Timmins?
Greg Romain: We started off with a 0.5-million-ounce 43-101 resource estimate that was approximately 400 metres strike length and 90% of that resource was about 400 metres in depth. In 2010 we doubled the size of the envelope so the potential now is in excess of 1 million ounces and the strike length has gone from 400 metres to 750 metres and we’re down to a depth of about 850 metres. This year we will be drilling down to about 1,000 metres.
RI: Were the results what you expected?
GR: The 43-101 resource is about 6.5 to 7 grams with 3 to 4 metre mining width and the weighted average of all the holes drilled on the 2010 drill campaign, which is approximately 20,000 metres, was again a weighted average of about 6.8 grams at about 3.5 to 4 metre mining width. It’s held up very well and it’s still open at depth.
RI: What’s next for the project?
GR: Our plan, and currently we are on plan, is to come out with an updated resource later this Q1, a scoping study in Q2, and permitting by Q3. If everything goes according to plan we would be looking at mine development by year end 2012 and production by late 2013. Our goal is to produce 100,000 ounces a year over a 10-year mine life. This is early and we still have to work through the scoping study, but our estimates are in the neighborhood of $600 to $700 an ounce cost. In the short term we are looking at outsourcing the mining and the milling. That is a short-term goal and we believe it has the potential to be a multimillion ounce deposit. We want to get it into production sooner rather than later to capture the higher metal prices.
RI: What value does your company immediately provide to investors?
GR: The key value we offer shareholders is a good long-term investment, but in the short term it is where we are in the development curve. We are putting out a new resource this quarter which I believe can only assist our share price. We are currently being valued very conservatively at $60 per ounce, based on in situ ounces while our peer group is valued about twice that amount. There’s been a lot of work done behind the scenes that we haven’t been able to talk to the market about. We expect our scoping study to be robust and have a short-term plan that will see us get into production sooner rather than later, and then probably a long-term component which would see a lower cost per ounce but higher capital requirements to build our own processing facilities. We’ll be doing 18,000 metres of drilling in the winter and then upgrading our resources from inferred into measured and indicated, a development the market tends to take very well.
RI: You’ve had a very busy 2010.
GR: Yes, yet we’ve done as much work in one year than the previous incarnation of the company had done in the previous 10. We started in 2009 with a fairly small, albeit consolidated claim block and we quadrupled our land position to 25 square kilometres in 2010. We’re aggressively working on acquiring other land that is contiguous to the property that sits along the fault that runs through the Frankfield deposits. We’ve visited every processing and milling facility within 100 km of the project up in Timmins and there is excess capacity. A number of the companies would like to work with us and we actually signed a non-disclosure agreement with one of them.
RI: Give three reasons why investors should consider Gowest.
GR: First of the three key things are the people. What separates Gowest from many other small exploration companies of our size is the management team. We have people that are mining engineers and metallurgists and most have built mines in Guatemala and Mexico. The second one is the location of the project, Timmins, a very mining-friendly jurisdiction that has produced 70 million ounces of gold over the last hundred years. Finally, it’s the growth potential. We’re right at the beginning of what is traditionally the steepest part of a junior gold company’s valuation curve as it advances from purely exploration to advanced exploration and then to mine development.
RI: Is there anything else that you think investors should know?
GR: I think we are undervalued and if you look at some of the other comparables in the area and what some of the analysts predict, there is significant upside as we move forward.
Checkmate28
AUNFF Value1008 Good take on AURCANA. Ive added AUNFF each of the last few days in the low 70's. Dont forget most investors who took place in the placements are probably smarter and more informed then us. If as you believe, its likely to be an 8 bagger, than most of those shares will be locked away for larger profits dont you think? At this level, its probably to low for them to trade out and buy back for less with the supply of buyers at this level. Im guessing that Aurcana volume will slow down and company news or updates of resources and shafter progress will bounce us back up soon.
Im wondering what Bobwins and CL001 think. Bobwins introduced us to AUN and the Shafter potential at least a few years ago.
2 million Measured, Indicated + Inferred target for 2011 and the high grade shallow depth material.
Last post was from memory. This information is from an April 2011 report. Link on the end.
Highlights
• Targeting updated resource in excess of 1 million ounces in early Q2, 2011.
• 2010 – Feb 2011 drill programs demonstrated comparable grades and widths (3.5-4m of approx. 6.5g/t) to existing 43-101 resource.
• 18,000m drill program planned for 2011 phase 1. 1-2 drills turned in 2010, 3 to 4 drills turning in 2011.
• Targeting 1.5 million oz Au inferred and +500,000 oz Au M&I at the end of 2011.
• Scoping study based on a 1400 tonne/day, 100,000 oz Au/yr operation expected in Q2. Thats 15 million dollars in Gold per year minus costs ( probably 5 to 600 per ounce having to ship concentrate) So 10 mil$ net
• Shallow high grade gold extensions at surface, and multiple parallel gold structures at depth.
• Development targeted in 2012, short term production potential using nearby custom processing facilities
Again at 35 million market cap and 1400/oz POG, whats to go wrong here?
http://www.gowestgold.com/downloads/GWA_Factsheet_April_2011.pdf
http://www.gowestgold.com/downloads/GWA_Presentation_March_2011.pdf
One million plus ounces high grade Gold. Why is nobody here? Guess they haven't heard or they don't believe the information coming out of the company so far.
I think Gowest is going to raise some eyebrows and suprise the market here real soon. I think the NI43 101 delay is to allow some time for some straggeling information to flow in, that will in the end, will shore up the resource report and prove up the million plus show it open for more.
Whats the market going to do when they see 1 million ounces with average grades between 6 and 7 grams per ton and still open at depth and strike coming out of Timmons? The company is also working on the feasibility for a production program and is in the middle of a paid for 30,000 meter drilling program that will increase the resource estimate past the million ounce mark at a later date.
They are just a jump from Lakshore Golds Flagship project in west Timmons. Lakeshore has high grades down past 1.5 Kilometers
I added yesterday and today.
GLTA Checkmate
THE GOLD BASIN PLACER MINE
FULLY PERMITTED AND BONDED, BASIC INFRASTRUCTURE IN PLACE, SOME EQUIPMENT PROVIDED, NEAR TURN KEY MINE READY TO OPERATE.
PROVEN & PROBABLE RESERVES: $917 Million at $1,300 per ounce gold
CASH FLOW: Potential annual Profit of $42 Million at $1,300 per ounce gold
“The Gold Basin Placer Project is viewed as one of the best placer projects in Arizona, from the standpoint of proven reserves through exhaustive testing, ore tenor, location and logistics, water availability and year around climate.”
LOCATION: The Gold Basin claims are located on 332 acres in central Arizona, within the Hassayampa River Basin, some 20 miles south of Prescott and one mile north of Wilhoit at an elevation of 4,100 feet. The claims are near paved Arizona State Highway 89 and fully accessible using an unpaved forest service road to the site.
ORE RESERVES, TENOR & PRODUCTION ANALYSIS: Over $300,000 has been spent on extensive surface and drill testing, bulk sampling and assays over the past 15 years. The claims contain at least 17-24 million tons of processable ore. Proven and Probable Reserves are $917 Million at $1,300 per ounce gold. Ore tenor is 0.055 ounces of gold per cubic yard. The average recoverable ore value is approximately $64.35 per yard. production costs are $11 per yard, leaving a net profit of $53.35 per yard. At a production rate of 150 yards per hour and two 10 hours shifts per day, the net profit per day should be $160,050. The net profit per month should be $3,841,200; and pre-tax annual profit is projected to be $42,253,200.
This 800k below is from WSRA
INFRASTRUCTURE AND DEVELOPMENT: Over $800,000 has been invested in infrastructure, development and equipment. Basic infrastructure development is complete including roads, pads, gates, water wells, ponds and camp/storage sites. Some equipment is included with the project. With minimal additional equipment, including a wash plant, the mine is ready for commissioning and operation.
Checkmate
No one has any comment?? Link this news below from My fox Arizona
With my next post.
Gold Mine Prepped Near Prescott
Updated: Tuesday, 01 Mar 2011, 4:36 PM MST
Published : Tuesday, 01 Mar 2011, 4:36 PM MST
PRESCOTT - It's a gold rush in northern Arizona! An Arizona mining company says it has started prep work on the Gold Basin gold mine near Prescott.
After studying the mine for the last couple of years, Western Sierra officials say the mine has shown commercial viability and the company says it has filed its technical reports on the mine.
Western Sierra Mining Corp. President Michael Chaffee says the mine has an estimated half million ounces of gold just waiting to be removed. Chaffee calls it a fairly large deposit.
The mine is located on 330 acres adjacent to the Hassayampa River 20 miles south of Prescott and is made up of four claims.
Copyright AP Modified, Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Looks like somebody pulled their bid. All that information is potentially good.
You guys following so far???
Heres the possible answer with the link at the end.
Even though WSRA has a lease on the property, they must be bidding to acquire it in whole.
THE GOLD BASIN PLACER MINE
FULLY PERMITTED AND BONDED, BASIC INFRASTRUCTURE IN PLACE, SOME EQUIPMENT PROVIDED, NEAR TURN KEY MINE READY TO OPERATE.
PROVEN & PROBABLE RESERVES: $917 Million at $1,300 per ounce gold
CASH FLOW: Potential annual Profit of $42 Million at $1,300 per ounce gold
“The Gold Basin Placer Project is viewed as one of the best placer projects in Arizona, from the standpoint of proven reserves through exhaustive testing, ore tenor, location and logistics, water availability and year around climate.”
LOCATION: The Gold Basin claims are located on 332 acres in central Arizona, within the Hassayampa River Basin, some 20 miles south of Prescott and one mile north of Wilhoit at an elevation of 4,100 feet. The claims are near paved Arizona State Highway 89 and fully accessible using an unpaved forest service road to the site.
ORE RESERVES, TENOR & PRODUCTION ANALYSIS: Over $300,000 has been spent on extensive surface and drill testing, bulk sampling and assays over the past 15 years. The claims contain at least 17-24 million tons of processable ore. Proven and Probable Reserves are $917 Million at $1,300 per ounce gold. Ore tenor is 0.055 ounces of gold per cubic yard. The average recoverable ore value is approximately $64.35 per yard. production costs are $11 per yard, leaving a net profit of $53.35 per yard. At a production rate of 150 yards per hour and two 10 hours shifts per day, the net profit per day should be $160,050. The net profit per month should be $3,841,200; and pre-tax annual profit is projected to be $42,253,200.
MINING: The property is located on Prescott National Forest land, although the site is desert like with no merchantable timber. The Plan of Operations and Stipulations have been approved, and the Authorization to Commence Operations has been issued by the US Forest Service. A reclamation bond is in place. The production season is year around.
WATER: Water is available from two water wells drilled at the site and a river flowing through the claims. An existing deep pool on the shore of the river has a dock and pump in place with piping to the plant site recycling ponds. The existing permits allow for pumping from the river at this pond site.
INFRASTRUCTURE AND DEVELOPMENT: Over $800,000 has been invested in infrastructure, development and equipment. Basic infrastructure development is complete including roads, pads, gates, water wells, ponds and camp/storage sites. Some equipment is included with the project. With minimal additional equipment, including a wash plant, the mine is ready for commissioning and operation.
EQUIPMENT: The following equipment is included in the sale price: John Deere 4x4 backhoe with one yard bucket, front end loader with a 4 yard bucket, Atlas trackhoe excavator, Cat D-8 dozer, Mack dump truck, tool storage cargo trailer, watch trailer, 250 gallon propane tank, 500 gallon diesel tank, pickup with diesel fueling capacity, concentrate recovery systems, and a complement of portable generators, pumps, tools, supplies and accessories.
EXPANSION: The initial permit allows for maximum production at a rate of 50 yards per hour. After commencement of operations, a "permit modification" request can be filed with the USFS seeking to modify the permit to expand the site, build a second site, and increase the allowed rate of production.
PRICE AND TERMS: The Gold Basin Mine is held by Pine Creek Mining, Inc., a corporation having as its sole assets the Gold Basin Mine, being the claims, permits, reclamation bond, infrastructure and equipment. The price to acquire the company is $8,000,000. The assets are not separately available for sale, only the corporation is for sale. The corporation and its assets are free and clear of all debts, liabilities, liens and encumbrances.
The following technical documents and reports are available for review:
2009 Appraisal Report (705,800 ounces of gold)
2008 Western Sierra Mining Corp Geology Report
1996 GoldTech Engineering Geology Report
1996 GoldTech Engineering Work and Testing Summary
1965 Melbye Geology Report
1964 Zinkl Geology Report
1947 Nichol Geology Report
1933-1934 Grundy Geology Report
1933-1934 Giroux-Grundy Geology Report
1932 Hassell Geology Report
1931 Nebeker Geology Report
The following permit documents are available for review:
Approved Plan of Operations
Decision Notice
Stipulations
$59,000 Cash Reclamation Bond
Authorization to Commence Operations
Stormwater Discharge Permit
http://goldtechmines.com/gold%20basin%20main.html
Questions If March 2011 news article of preparation for production at Gold Basin Mine is in play now, than how much do those 2008 numbers increase with the new price of Gold almost 2 1/2 years later?????
Then Ive been wondering whats up with this old news? Haven't been able to talk with the company as to what happened but Id guess they got broadsided by the financial collapse in end of 08 and had to regroup.
Western Sierra Confirms Production Targeting 500,000 Oz. of Gold Reserves
PRESCOTT, Ariz., Dec 02, 2008 (BUSINESS WIRE) -- Western Sierra Mining Corp. (OTC: WSRA) confirmed today that it has begun production at the Gold Basin Mine. The Gold Basin Mine has in excess of 500,000 oz. of total gold reserves valued at over $400,000,000.00 with anticipated margins of approximately 50%. While initial yearly cash flow of Phase I Production at this mine alone is targeted at $2,000,000.00, Western hopes to leverage production and increase this level to $4,000,000.00 in less than 12 months.
Michael Chaffee, CEO & President of Western Sierra Mining, commented, "We started our initial production runs yesterday utilizing the equipment we have been installing over the past eight weeks. Initial production results correspond well to historical data, and we will release results as they become available."
Mr. Chaffee further stated, "The Gold Basin Mine is one of three mines WSRA intends to simultaneously operate during Phase I of our Gold and Silver mining operations. Western has invested over $800,000 of its own funds to prepare these mines for operations, and is currently exploring a private financing to accelerate the company's business plan. While the Phase I Plan allows for expansion to be financed through cash flow, the proposed financing would allow for the outright purchase of the Gold Basin Mine which is currently being operated on a lease option, as well as an acceleration of our production plan. No formal decision has been made concerning the financing proposal, but we will release more details to our shareholders as they become available."
Gold Basin Mining Statistics
The Gold Basin Placer Project is viewed as one of the best placer projects in Arizona, from the standpoint of proven reserves through exhaustive testing, ore tenor, location and logistics, water availability and year-round climate.
Description and Location: The Gold Basin claims are located on 332 acres in central Arizona, within the Hassayampa River Basin, some 20 miles south of Prescott, Arizona. The claims are near paved Arizona State Highway 89 and fully accessible using an unpaved forest service road to the site.
Plan of Operations: The program is divided into two phases. Using equipment that currently exists on site, Western will initially operate a small scale 20 yard plant. A second plant will be constructed to expand future operations to 40 to 50 yards per hour and will run simultaneously.
Gold Basin Mine Reserves and
Financial Projections (Phase I):
Yearly Cash Flow $2.0 million**
Margins 50%
Reserves oz. Gold: 150,000 oz. proven / 400,000 oz. probable-indicated
Reserves $ Gold: $112 million proven / $300 million probable-indicated
Mine Life 20 (+) years
5 News releases in Feburary, 3 In March News may be due.
Been keeping some notes. Thought Id throw them out here.
I didn't realise this before, but Western is licensed with Canada to actually create and write the NI43-101 offical independant resource reports and feasibility studies. Think about it, thats big credibility and has to take some experience.
They are talking with many potential JV candidates and have several opportunities for projects needing between 1 and 50 mil $ IMO something is going to pop here.
Currently they have a small scale mobil processor they can take to the road to test potential new properties for resources and create small scale revenues with that processor by doing studies and feasibility for other companies, additionally, they can do small scale production for themselves with the unit. They are also currently building a mobil grader to be able to analyze potential properties for resources, real time, on the fly. IMO They have to be in a good position with this knowledge and equipment to find good properties for a nickel.
Their newest PR shows them looking for properties in Nevada. If Nevada was a country, it would be 3rd largest country in Gold production over the last 10 - 20 years. There should be some profitable Gold out there at 1500/oz
NI43 101 resource report for Arizona due any day. This may be the official document that bags the Joint Venture
They have 2 Joint Venture's in the works right now, a couple 43-101's due, multiple new properties and probably going to be moving forward production revenues from Gold Basin any day.
Wow Nice Stuff !!!!!!!!!
Dcrain AUN AG
Slide 22
2013 5 m oz Silver AND 6 m oz silver equivalent. These numbers could easily go up with Legend Peter Mcgaw now head of exploration at Shafter.
http://www.aurcana.com/i/pdf/CorporatePresentation.pdf
First majestic news out today
Company guidance for 2011 released on January 11, 2011 stated, "Production is anticipated to exceed 7.5 million ounces of silver in 2011". Plus expansion
Aurcana - Fortuna - Medusa Kipp Thanks Im eagerly waiting because Ive been spending some time on that myself. Aurcana is scheduled in 2013 to nearly match the silver production PR'd by First Majestic this morning. Aurcana Market cap is about 10% of FR
Zunobira Nice Find! WSRA is holding out on us. Hopefully they get that news out publically from them.
GWA.v Sorry for multiple posts but they snuck a fact sheet into the web site recently that I hadn't seen. I got re-excited (new word)at the 2 million Measured, Indicated + Inferred target for 2011 and the high grade shallow depth material.
Highlights
• Targeting updated resource in excess of 1 million ounces in early Q2, 2011.
• 2010 – Feb 2011 drill programs demonstrated comparable grades and widths (3.5-4m of approx. 6.5g/t) to existing 43-101 resource.
• 18,000m drill program planned for 2011 phase 1. 1-2 drills turned in 2010, 3 to 4 drills turning in 2011.
• Targeting 1.5 million oz Au inferred and +500,000 oz Au M&I at the end of 2011.
• Scoping study based on a 1400 tonne/day, 100,000 oz Au/yr operation expected in Q2. Thats 14 million in Gold per year minus costs ( probably 25 to 30%) on my calculator.
• Shallow high grade gold extensions at surface, and multiple parallel gold structures at depth.
• Development targeted in 2012, short term production potential using nearby custom processing facilities
Again at 35 million market cap and 1400/oz POG, whats to go wrong here?
http://www.gowestgold.com/downloads/GWA_Factsheet_April_2011.pdf
http://www.gowestgold.com/downloads/GWA_Presentation_March_2011.pdf
Checkmate
GWA from a recent PR in March. I think this will make waves as it unfolds to a million ounces and more. What can go wrong at this point if POG stays at 1300 or better? They have cash for this years drilling. Market cap has to increase IMO. Could be any day.
The results of this deep drilling campaign clearly demonstrate the continuity of the mineralized horizon at the Frankfield East deposit from near surface down to a minimum of 920m. The zone remains open to depth. The current mineralized envelope of 750m along strike at surface by 920m at depth is 2 to 3 times the size of the initial mineralized envelope which contained a 43-101 inferred gold resource of 510,000 oz at 6.5 g/t Au (2.4 million tonnes).
Importantly, with one exception, after nearly 30,000m of drilling since January 2010 every hole drilled within the currently defined mineralized envelope has intersected gold. Drilling will continue in order to expand the deposit and to establish continuity both at depth and horizontally in areas previously tested with widely spaced holes.
"The success of the deep drilling continues to demonstrate the potential to define a multi-million ounce(i) gold deposit at Frankfield East. If the current interpretations continue to be supported and extended as the drill program continues, Frankfield could turn out to be one of the most significant new gold deposits discovered in an entirely undeveloped area of the Timmins camp in many years," stated Greg Romain, President & CEO of Gowest. "With an updated resource estimate expected in Q1-2011, a continued aggressive expansion and infill drilling program, and a preliminary economic assessment scheduled for Q2-2011 we believe the timing ideal to be a Gowest shareholder."
Westeffer GWA. Not sure what earn in your talking about. In their Frankfield East property witch is the property being drilled right now, they own 100%
AUN.v Kipp Im there with you. I don't know why its not talked about here. Connect the dots to 6 million oz of silver equivalent per year and Peter Magaw is sure to juice those numbers on the exploration end.
I've been on this train since the .20S and even some teens. Ever since the SW Silver stream buyback, this has been a connect the dots billions for Aurcana. Take the new cash stream, raise some more ( about 65mil$) and start building the 2nd largest silver mine in the country, 12th largest in the world. Permits and infastructure going forward now. Then hire Legend Dr Peter McGaw to oversee a major exploration program to maximize discovery of even more resources and increase future revenues exponentially.
MY only concern was for the short term when the free traders became available. I was ready to add around .75 and was blown away, left in the dust yesterday with the volume influx. I still believe there are sellers with large numbers of shares that are waiting for each recovery. I'm hoping to add at a sale price in the 70's with some patience some day soon and then to hang on for the ride to 2.50.
Looks like the risk is dwindling by the day.
GLTA Checkmate
GWA.v GWSAF Big News! Gowest Amalgamated Company has changed its name from Gowest Amalgamated Resources Ltd. to Gowest Gold Ltd.
That ought to be good for at least a quick 10% just by putting the word Gold in the name. LOL!
All kidding aside They are doing a great job up there. About to put out an NI43-101 with 1 million oz of gold from high grade rock w/Avg grades of 8GPT. This will double the current resource report based on drilling to date and this property is still open at strike and depth.
Their in Timmons Ontario. 49% of all gold ever produced from Ca has come from Timmons. Means plenty of infrastructure and talented work force available. Thats what they do there.
Excellent continuity with hitting good results in 30 of 30 holes in the just finished drill program.
Current 30,000 meter drill program has 4 drills, one of witch is drilling in previously un explored area. Should juice up the numbers even more for the next year.
They also recently implemented a shareholder rights plan to protect share holders from a hostile take over.
All this from a 35 million market cap.
Looks like connect the dots to production or buy out in 12 to 18 mths IMO.
Checkmate