I provide VERIFIABLE links, just ask if I forget to add in post!!
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Since Brandon Toth has taken over TNOG
He has only produced prs!
He has not produced a drop of oil or gas from the Kern County lease much less any gas from the Bastrop well which many Prs have been produced over the years saying it is about to get connected to the gas line!
Whats wrong with this PINKY picture?
Has anyone contacted Tejones to find out the status of the Eberle #1 well in Bastrop County?
They are the operator of this well and call the shots!
Titan has been milking many previous PRs about this well!
OT)The feds need to raise interest rates now to strengthen the dollar...... then Oil will drop right away (the OIL bubble will POP instantly).
The feds are puppets and have not raised the interest rate in an election year in the past!
BMAZ, make them do it NOW for the sake of our US economy..
Nutin to take a picture of......DUH!
I do own my company and I pay as I go!
I have a positive attitude about TNOG.. I post verifiable DD
You have to decide what to do with it..
TNOG can not even afford to lease a portable building for a month!
Titan has no money and never has! So tell us all how it was taken care of!
How is the April 2006 judgment against Titan "out dated"
http://profile.imageshack.us/user/crowtf/images/detail/#174/bulldoggt8.jpg
Bulldog Well Service -vs- Titan Oil & Gas
http://profile.imageshack.us/user/crowtf/images/detail/#174/bulldoggt8.jpg
Here is a picture of Clayton at the K1 well in Wilson County when he was pumping TNOG....
notice the Titan Oil & Gas shirt he is wearing!
Is this the same shirt Brandon recently showed up in!
http://profile.imageshack.us/user/crowtf/images/detail/#228/24iv1.jpg
slow, U on Rong board! here are the trades for TNOG today
Price Size Exch Time
0.005 1000 OTO 15:58:52
0.0049 49000 OTO 15:58:07
0.0049 45000 OTO 15:51:49
0.0049 9000 OTO 14:21:30
0.0049 6000 OTO 14:21:28
0.0049 230000 OTO 13:54:07
0.0049 1400 OTO 13:46:13
0.0049 10000 OTO 13:19:05
0.0046 199600 OTO 12:08:44
0.0047 210200 OTO 12:08:43
0.0045 50000 OTO 11:08:24
0.0045 5333 OTO 10:52:48
0.0045 28000 OTO 10:52:47
0.0043 90800 OTO 10:20:01
0.0041 50000 OTO 09:34:45
0.0046 50000 OTO 09:34:45
So the Eberle #1 well has oil too per Brandon?
If that is the case then an oil separator and tank battery will have to be installed at the well site to gather the OIL first.. then a compressor will need to be installed after the separator to compress the gas enough to force it into the gas gathering line that they keep talking about connecting to!
If the Bastrop Ebere #1 well tested good enough when it was fracked by Schlumberger then it would have been connected by now!
Tejones is the one that calls the shots!
They can be called @ (210) 824-5957
"Explorer 500 has a planned shipping date of May 1, 2008"
" Mr. Jayne estimated delivery time would likely take approximately one month. Drake Gold Resources is pleased with this news and is eagerly awaiting the arrival of its Explorer 500 in Georgia on or around June 1, 2008."
Where is it? It is 3 weeks late and no update from Drake! Whats UP? SCAM?
http://biz.yahoo.com/iw/080423/0389818.html
revised link below, select official documents, then select Grantor/Grantee
then input Titan, Brandon, etc or anyone else that has been associated with Titan Oil & Gas.....
Happy searching!
http://recorderonline.co.kern.ca.us/
Document supporting Lien on Eberle Well, Has Titan Oil & Gas in the document. This information is avallable by searching the Bastrop County Clerk online, link below,
http://profile.imageshack.us/user/crowtf/images/detail/#71/schlumbergerit4.jpg
http://www.co.bastrop.tx.us/ips/cms/countyoffices/countyClerk.html
choose "Search Online Public Records."
The Eberle Lease in Bastrop County, TX Known as Eberle #1. is the property of Tejones Operating and if they do decide to put in production, and if it does produce TNOG will only get 16.9% of any profits after all debts are paid!
How much is owed to Schluberger for the frac of the well( see below)?
How much is that lien on the Eberle well?
$289,774.03 plus attorney fees is what is owed!
The Kern County Lease in California only cost TNOG very few dollars per the disclosure they post on Pink Sheets dated 5-19-08!
http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=15627
I Still can't verify any direct connection of TNOG with the Kern County Recorder who records all lease transactions!
http://www.recorder.co.kern.ca.us/propertysearch/index.php
search Titan as grantor or grantee,, and any other name you know associated with Titan Oil & gas over the years too!
Here is the link to the Kern County oil lease map
ftp://ftp.consrv.ca.gov/pub/oil/maps/dist4/439/Map439.pdf
Brandon pays himself $5000.00 a month
http://pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=15627
Lot of TNOG selling @ .0045 this morning
How many companys will it take for Pink Sheet investors to see that Clayton Smith is a P&D guy!
What are the odds of DKGR producing anything other than PRs?
They have many more previous companys to go!
Company Notes
Formerly=Titan Consolidated, Inc. until 2-05
Formerly=James Barclay Alan, Inc. until 5-03
Formerly=PayForView Media Group Holdings Corp. until 2-02
Formerly=PayForview.com Corp. until 4-01
Formerly=Sierra Gold Corp. until 1-99
Formerly=James Barclay Alan, Inc. until 5-03 Formerly=PayForView Media Group Holdings Corp. until Formerly=PayForview.com Corp. until 04-01 Formerly=Sierra Gold Corp. until 1-99
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=tnog#getFilings
Who is still waiting for Titan Oil & Gas (TNOG) to .........
Produce?
Most of the time here in the pink world, many Stocks put out PRs and never follow thru.......... DKGR is in that boat!
Anyone have any verifiable DD to post about TNOG?
It has been days since the last post on this board!
Stock?
What did Tejones tell you?
Tejones calls the shots, not Brandon!
What did Tejones tell ya?
(210) 824-5957
TNOG has over 2 years with Tejones at Bastrop now, and still no production results!
How many Prs has TNOG PUMPED with the Bastrop WEll sinse then?
http://findarticles.com/p/articles/mi_hb5559/is_200604/ai_n22515852
The question was for outsiders to reply back with the results of what Tejones has to say!
Tejones is the Operator of the Bastrop Well and they know what is happinin!
Has anyone called Tejones ((210) 824-5957) and ask if the Bastrop well is good and if they plan on hooking up the well to the gas gathering line or not!
Please reply the results of your conversation on this board
I'm here for years now to provide verifiable DD about TNOG and I (crow) never tell's anyone to buy or sell!
TNOG needs to produce what ever it talks about.. in other words just getter done someday!
Oil underground is like water above ground.
TNOG lease is on an island......
How will Titan pay for the previous debts for the K1 and Bastrop Well?
How long will that take to pay them off? ( with no current Income)
Until then how will they be able to start any project with the California Kern lease?
My DD shows that the area has been drilled many times by many companies over the years and they show only DRY HOLES!
Where will TNOG get the money to drill?
How long is the Drilling Rig waiting list in the Bakersfield area?
On a positive note, TNOG does have experience producing FLUFF Pr's over the years!
Who?
Really thought that the mining equipment would arrive in Georgia? much less a mining permit!
DKGR PRs
Drake Gold Resources Inc. Announces Completion of Symbol Change to DKGR
2/13/06
Drake Gold Resources Inc. (OTC: DKGR) (OTC: AMVS) a brand new company that focuses on the exploration and production of precious metals is pleased to announce that, along with its recent name change, the company has received its new CUISP number and the symbol change from AMVS to DKGR.
The change is effective as of 02-13-06:
Drake Gold Resources Inc.
OTCBB.PK symbol DKGR
CUSIP Number: 26144G106
The company has recently stated in news releases that it is prepared to assemble an all-new, highly experienced, team of professionals to operate the company in the new business model. Along with updates regarding the all-new management it was also stated that the company is prepared to enter into several Letter Of Intents (L.O.I.) to acquire or joint venture with valuable precious metal assets.
If you have any questions please contact the investor relations team for Drake Gold Resources.
This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Clayton Smith 1-503-618-0370 1-888-601-9983 info@novakcapital.com
http://findarticles.com/p/articles/mi_pwwi/is_200602/ai_n16062289
Drake Gold Resources Inc. Solidifies Position as Gold Company With New Website
2/13/06
Drake Gold Resources Inc. (OTC: DKGR), a brand-new company that focuses on the exploration and production of precious metals, is pleased to announce that it has released its company website.
http://www.drakegold.com
The Drake Gold team is preparing to completely equip the new site with all the necessary tools to educate and update the current and future shareholder base of the company. The company platform will be consistently updating with new information about Drake Gold and the gold precious metal mining sectors. The mission statement of the Drake Gold team is to offer the most comprehensive and elaborate site for the proper and full due diligence of both the individual and institutional investor.
Although the company has not released the information of the new mining-clad management team so that the public can fully understand the value of this company, there are plans as per the latest press releases to update the public as soon as possible.
Technical assays and asset information including but not limited to maps, engineering reports, pictures, etc. will also be available as soon as official announcements will be made.
Shareholder inquires and suggestions are welcomed and should be directed to the Drake Gold Investor Relations Team at the contact below.
Contact: Clayton Smith 1-503-618-0370 1-888-601-9983 info@novakcapital.com
http://findarticles.com/p/articles/mi_pwwi/is_200602/ai_n16061498
Drake Gold Resources Inc. Announces Resignation of Management Team to Complete Transition
2/16/06
Drake Gold Resources Inc. (OTC: DKGR), a brand-new company that focuses on the exploration and production of precious metals, is pleased to announce that the full management team from its previous business model are resigning in preparation of new management announcements.
Drake Gold Resources Inc. has just formed under its new symbol "DKGR" and is preparing for the new management team. The new management team of mining professionals including the mining engineer/operators is ready to be announced and begin to hasten the roll out the new operations plan.
The complete resignation consists of Paul Stringer, Jerry Leslie, and Neil Grey, who are the officers and directors of the company.
Shareholders can expect a quick addition of the new management and introduction to their mining credentials as well as a quick move to announce the potential assets, acquisitions and joint ventures they have been evaluating. Letter Of Intents (L.O.I.) are in the final stages and will be released shortly after management is announced to complete the move into valuable precious metal asset sector.
It is anticipated that the new mining CEO will be announced early next week.
Current and future shareholders are encouraged to sign up for email updates on our new website to stay up to the minute on new releases, reports, interviews, industry news and market related information. The sign up is located under the main menu at http://www.drakegold.com.
Shareholder inquires and suggestions are welcomed and should be directed to the Drake Gold Investor Relations Team at the toll free # 1-888-601-9983 or internationally at 1-503-618-0370 or via email at info@novakcapital.com.
Contact: Clayton Smith 1-503-618-0370 1-888-601-9983 info@novakcapital.com
http://findarticles.com/p/articles/mi_pwwi/is_200602/ai_n16079666
Drake Gold Resources Inc. Announces New CEO
2/22/06
Drake Gold Resources Inc. (OTC: DKGR) is pleased to announce Francis Richard Biscan Jr. as the new CEO, effective immediately. Richard Biscan was a prime choice to replace the previous CEO with a track record that has been focused on adding shareholder value. Drake Gold's vision is based on the same principles and anticipates a profitable future.
Currently Richard Biscan holds the position as President and CEO of American Stellar Energy Inc., a successful junior mining venture. He has managed the company from a shell platform and has built up shareholder value over 500% to date by adding real assets to the company. That company is a precious metal exploration and development company, which is already producing gold and silver from its recently acquired properties. Previously, Mr. Biscan has worked for over 8 years with various public companies in the areas of business consulting, structuring, mergers and acquisitions and finance. He has served as a Director for Latitude Minerals and numerous outside advisory roles. He has also served on the Board of Timothy Christian Schools.
Mr. Biscan's objective is to become a significant gold and precious metals producer by increasing American Stellar Energy's current production at La Currita and developing the San Miguel and La Millionaria projects in Mexico, and by acquiring other advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world His recent work with American Stellar Energy has shown a devotion to creating and maintaining shareholder value with established relationships within the mining industry. The company has been bringing its current filings back into compliance and is prepared to make application to be reinstated as an OTCBB traded Company once they have been completed.
Currently, Drake Gold Resources is reviewing several projects of merit and is preparing to bring in a full team of professionals to manage the direction and resources of this new gold company.
Richard Biscan had this to say, "With the current climate of the precious metals market and quality of opportunities, we are seeking to acquire and develop precious metals assets, combined with the loyal shareholder base found in our shareholders, I firmly believe that Drake Gold can become a prominent leader in micro-cap mining sector."
Current and future shareholders are encouraged to sign up for email updates on our new website to stay up to the minute on new releases, reports, interviews, industry news and market related information. The sign up is located under the main menu at http://www.drakegold.com.
Shareholder inquires and suggestions are welcomed and should be directed to the Drake Gold Investor Relations Team at the toll free # 1-888-601-9983 or internationally at 1-503-618-0370 or via email at info@novakcapital.com.
http://findarticles.com/p/articles/mi_pwwi/is_200602/ai_n16079429
Drake Gold Resources Inc. Signs Seasoned Mining Operator Norm Pearson as Project Manager
3/09/06
Drake Gold Resources Inc. (OTC: DKGR) is pleased to announce that the company has signed seasoned mining professional and operator Norman Pearson as the company's exclusive project manager and senior consultant.
Norman Pearson currently is the acting president of Thunder Gulch Resources Ltd. which just signed a 48-month contract with DKGR for general corporate, administrative, technical, and other full service management and operational services as well as first right to refusal on over 10 projects located in areas throughout the United States along popular trends in Arizona, Oregon and Alaska; locations throughout Canada in British Columbia and the Yukon Territories; and other properties in the popular gold districts of Northern Mexico.
Mr. Pearson has over 30 years of experience and has performed exploration and development of precious metals in Canada, United States, Venezuela, Africa and Russia and has set up mines on four continents: Asia, South America, Africa, and North America. He has been a miner for over 3 decades and has worked on more than 70 properties.
He grew up in his family's structural steel business and holds a patent on a gold recovery machine for placer or free gold mining, "The Pearson Rock Box." He has manufactured and sold 42 units between 1979-1998 and he helped develop the "The Derocker." He manufactured and sold 45 units between 1981-1998. The machines were sold worldwide to majors such as PlacerDome.
Mr. Pearson started mining design, supply and erection of structural steel in 1962 for: Endako Mines, Similkimince Mines, Brenda Mines, Gilbralter Mines and Kitsault mines. By 1979 he was a placer mining consultant and CEO of Pearson Mining Equipment Ltd. and managed a placer mining operation at Churn Creek, BC.
From 1980 to 1982 he managed a placer mining operation at Clear Creek, Yukon. In 1983 he performed exploration on a hard rock mining operation on Vancouver Island, BC. Started a successful mining operation in California, US in 1984. Moved to Likely, BC to manage another placer mining operation in 1985. Managed a placer mining operation in Mexico for most of 1986. Throughout 1987-1989 he operated placer mining at Manson Creek, BC.
Then he headed for Mali, West Africa to work as a consultant for Trans African Mining Co. from 1989-1990. From 1992-1994 he was the project manager for Naxos Resources Ltd. In Venezuela, South America, acquired property and financing and set up operation producing diamonds and gold. With another diversified move he headed to Tajikistan to perform as project manager for Gulf International Minerals Inc. between 1995-1998. Operated another placer mining operation in Nevada during 2000-2001. Currently operating TGR solely for the development of the Drake Gold Resources Inc. and is ready to begin operations on several properties the management company has outlined for DKGR.
Clayton Smith, investor relations and official consul for DKGR said, "I have had the opportunity to meet with and review the history and credibility of Mr. Pearson both in the mining services and project development worlds and the choice was clear to bring in Mr. Pearson with his array of merits, worldwide operations, 30+ years of experience in mining and a patented machines."
Norman Pearson, president of Thunder Gulch Resources Ltd said, "now that we have all the proper agreements in place it's time to do my favorite thing in the world, go mining!"
He continued, "sometimes finding the right honest group is the hardest part, second only we have so many proven gold areas we just have to chose which ones to start on."
http://findarticles.com/p/articles/mi_pwwi/is_200603/ai_n16106471
Drake Gold Resources Inc. Announces Consultant
3/8/06
Drake Gold Resources Inc. (OTC: DKGR) announced today that Richard Biscan has decided to work with the company as a consultant rather than complete his agreement as a full-time CEO.
Mr. Biscan indicated that due to existing commitments, he would not be able to dedicate the time and energy that Drake deserves. Mr. Biscan will be consulted, on an as-needed basis, regarding the development of joint ventures, acquisitions, and finance.
The company is currently reviewing exploration and mining opportunities throughout the United States, Canada and Mexico.
About Drake Gold Resources Inc.
Drake Gold Resources Inc. is an early stage mining company that focuses on the exploration and production of precious metals. Several projects have been identified through its resources in North and Central America, which will be released as the agreements are completed. The company has allied itself with a team of professionals including Richard Biscan of Tara Gold Resources Inc. (OTC: TRGD) and Thunder Gulch Resources Ltd.
http://findarticles.com/p/articles/mi_pwwi/is_200603/ai_n16098873
Drake Gold Resources Inc. Signs First Right to Refusal on Ten (10) Projects From Thunder Gulch Resources Ltd.
3/9/06
Drake Gold Resources Inc. (OTC: DKGR) is pleased to announce that the company has signed for first right to refusal on Ten (10) projects from Thunder Gulch Resources Ltd.
Currently TGR has access and is completing evaluation and sampling in over Ten (10) projects located in a diversified array of areas for Drake Gold Resources Inc. to acquire. The company is reviewing areas throughout the United States along popular trends in Arizona, Oregon and Alaska. TGR is also reviewing locations throughout Canada in British Columbia and the Yukon Territories. Other properties have been presented to the company in popular gold districts in Northern Mexico as well that TGR is now considering.
TGR recently agreed to a 48-month contract to performing services and operations for Drake Gold Resources Inc. Letter of Intents have been drawn up for what Drake Gold Resources Inc. and TGR have found to be in the best interest of the company initially and it is the companies intention to release the information on the specific properties that have been chosen for initial operations as soon as possible which could be in the next couple days.
The president of Thunder Gulch Resources Ltd. said, "We have had opportunities mounting that we have been very eager to explore and have waiting for the right company and team we believed would have the integrity and ability that we would want to operate with for a long-term affiliation, Drake Gold Resources Inc. is that team."
Current and future shareholders are encouraged to sign up for email updates on our new website to stay up to the minute on new releases, reports, interviews, industry news and market related information. The sign up is located under the main menu at http://www.drakegold.com .
Shareholder inquires and suggestions are welcomed and should be directed to the Drake Gold Investor Relations Team at the toll free # 1-888-601-9983 or internationally at 1-503-618-0370 or via email at info@novakcapital.com .
About Thunder Gulch Resources LTD.
Thunder Gulch Resources Ltd. (TGR) is an independent mining operator and project developer. The history of TGR is expansive and lengthy with success in mining ventures. The principle of TGR has operated exploration and development programs in Canada, United States, Venezuela, Africa and Russia and have set up mines on four continents: Asia, South America, Africa, and North America. The company combines over 30 years of mining, prospecting, evaluation, and operation expertise through its team of engineers and professionals.
Currently TGR has access and is completing evaluation and sampling in over Ten (10) projects located in a diversified array of areas for Drake Gold Resources Inc. to acquire. The company is reviewing areas throughout the United States along popular trends in Arizona, Oregon and Alaska. TGR is also reviewing locations throughout Canada in British Columbia and the Yukon Territories. Other properties have been presented to the company in popular gold districts in Northern Mexico as well that TGR is now considering.
About Drake Gold Resources Inc.
Drake Gold Resources Inc. is an early stage mining company that focuses on the exploration and production of precious metals. Several projects have been identified through Thunder Gulch Resources Ltd. and its resources in North and Central America, which will be released as the agreements are completed. The company has allied itself with a team of professionals including Richard Biscan of Tara Gold Resources Inc. and Thunder Gulch Resources Ltd.
http://findarticles.com/p/articles/mi_pwwi/is_200603/ai_n16106991
Drake Gold Resources Inc. Updates Current Acquisition Plans
3/17/06
Drake Gold Resources Inc. (OTC: DKGR) is pleased to announce an update for shareholders on current acquisition plans.
Drake Gold Resources Inc. has selected several of 10 locations it will be acquiring from its agreement with Thunder Gulch Resources Ltd. The project manager for DKGR and president of TGR, Norm Pearson, has been on site at our first and most promising asset. Sampling and testing has been occurring. The samples will be taken to the lab over the next week and we will have an official report to the public at that time. The company is prepared to release the info on the properties but has been requested by TGR earlier this week to wait for a couple days to release the geographical news and projections for a variety of reasons.
Due to 25 year highs at approx. $550+ an ounce of gold we are experiencing another gold rush in many gold-rich areas. Because of this factor there is an impending land rush in many areas worldwide and "claim-jumping" is becoming a concern for many companies that have found hot gold areas. The result is competition of land around the main gold findings. The area we are mainly interested in has many established majors and TGR has made sure to lock in the land surrounding our properties. This process does not take that much time but is a necessary step in our exploration and acquisition phase. The company is prepared to make the acquisition news early next week, ideally Monday.
gold rush areas but we have to be careful not to alert possible claim-jumpers, I believe we have found a special trend that has had some history but not fully explored and the geographical charts show promise on all surrounding areas, so we are securing those areas as well."
http://findarticles.com/p/articles/mi_pwwi/is_200603/ai_n16111140
Drake Gold Resources Inc. Appoints New CFO, Secretary and Director
5/30/06
Drake Gold Resources Inc. (PINKSHEETS: DKGR) is pleased to announce the appointment of Nia Stefany as the newest addition of the team. Ms. Stefany brings to Drake Gold Resources Inc. a distinguished career of over 12 years of accomplished experience in mergers and acquisitions, investment banking, finance, business management, and law. Her experience extends from startups to New York Stock Exchange-listed companies.
Ms. Stefany is the managing partner of a Century City investment banking firm, Xnergy, LLC. She focuses primarily on mergers and acquisitions, public offerings and finance transactions. She advises and assists clients in acquisitions and sales of businesses, in obtaining private equity and venture capital, and in corporate structuring, planning and transactions. She also provides financial consulting and business advisory services, including evaluating investment opportunities, developing business plans, and improving business operations.
Over the years Ms. Stefany has completed a wide variety of investment banking transactions for clients over a broad range of industries. She has managed or participated in over 50 acquisition, merger and disposition transactions valued at more than $200million.
Ms. Stefany has successfully formed, acquired, managed, developed and sold several companies in the consumer products, technology, and specialty services industries and a national franchise business. As an executive of these companies, she has been responsible for the management of all aspects of businesses, including strategic planning, structuring, finance, operations, product development, marketing, and sales.
Ms. Stefany has served as in-house counsel of a New York Stock Exchange-listed company and a mergers and acquisitions, securities, and corporate attorney with a Beverly Hills, California law firm. She has been responsible for negotiating, structuring, documenting, and closing mergers, acquisitions, restructurings, dispositions, public and private equity and debt financings, and franchising.
Ms. Stefany serves on the boards of directors of several private companies and a number of nonprofit organizations and professional and industry associations. She is an active member of the State Bar of California. Ms. Stefany is also an Angel investor and is a member of the Pasadena Angels, Keiretsu Forum and Maverick Angels.
http://findarticles.com/p/articles/mi_pwwi/is_200605/ai_n16430221
Drake Gold Resources Inc. Outlines Corporate Strategy
5/24/06
Drake Gold Resources Inc. (OTCBB: DKGR) (PINKSHEETS: DKGR) is pleased to outline its vision as a natural resource company and its plans to increase the company's value. As previously announced, the company is in the final stages of a transition from its previous business model, and is eager to present the company's evolved mission and current position to its shareholders.
Drake Gold Resources, Inc. is an early-stage company in the natural resource industry. It has assembled a growing team of professionals to guide its strategic acquisition and expansion plans. Its mission is to become a diversified natural resource company that will derive a variety of cash flows from diverse mining/harvesting operations.
DKGR intends to be a diversified company by operating in the natural resource, petroleum, and alternative energy markets. As a result of ever-increasing scarcity, the market for natural resources is clamoring for diversification and innovative exploration tactics. Potential opportunities for diversification include diamond, gold, silver, copper and other minerals in areas such as Arizona, Oregon, Alaska, British Columbia, the Yukon Territories, and other affiliated sections throughout gold districts in Northern Mexico. DKGR also plans to capitalize on current and long-term trends in energy prices to operate in the petroleum and alternative energy markets.
The Company has signed a Letter of Intent dated March 22, 2006 for the acquisition of its initial target for exploration and production, a property located in a prime region of southeastern Arizona. Further details of the completion of this acquisition and its terms will be released in a timely manner, as well as further announcements regarding other properties.
While still trading below a dollar, DKGR is utilizing the creative financing strategies that many emerging companies successfully employ.
First, the Company intends to limit dilution by engaging in joint ventures to raise working capital, rather than through the issuance of additional shares. The Company will benefit from the increase in the value of assets under portfolio by attracting capital into majority owned subsidiaries.
Second, with the recent change in management, the new management team has purchased a significant portion of outgoing management's shares and intends to retire some of them. The company does not have any plans at this time to restructure the Company's capital, via forward or reverse splits, because its established structure is intended to promote liquidity and awareness in the public market.
Furthermore, management realizes that trading as a pink sheet company has its limitations. Therefore, it intends to move the company's listing to the OTC-BB. Even though this will increase the company's compliance costs, management has the team in place to upgrade the company, and expects doing so will enable the company to maximize its potential. By becoming a fully reporting OTC-BB traded firm, DKGR expects to improve its credibility and investor confidence. Management is also looking into foreign alternative markets, such as London's Alternative Investment Market (AIM) and the Frankfurt Exchange, to increase the company's access to capital.
http://findarticles.com/p/articles/mi_pwwi/is_200605/ai_n16409719
Drake Gold Resources Inc. Announces 100% Acquisition of Pegasus Oil Well Services as the First Part of the Expansion Into Oil and Gas Development
6/6/06
Drake Gold Resources Inc. (PINKSHEETS: DKGR) is pleased to announce the acquisition of Pegasus Well Services, scheduled to be completed within two weeks. Pegasus is a San Antonio-based company that services all of South Texas with a growing list of oil services. ( http://www.pegasusoilwellservices.com )
Estimations of revenues for 2006 will be released after evaluation is completed of audited financials and the operations. The acquisition will make Drake a profitable company. The acquisition is being done for all stock, which is restricted for 2 years.
The company plans to expand operations to include complete well services for wells above 10,000 ft. in depth including acidization treatments, cementing, and drilling operations. Pegasus is a growing service provider specializing in shallow oil, gas, and water wells in the South Texas area.
The company began operations in November of 2001 with the first several months being devoted to training personnel, acquiring, and modifying needed equipment. The company became more active over the first 3 years, solidifying its foundation in 2004. Operating with only one cementing unit, its sales for 2005 exceeded $600,000 over a shortened year due to a mechanical rebuild of its main unit.
With the addition of Pegasus, Drake plans on adding additional cementing units, hydraulic fracturing units, drilling rigs, and other needed services, with the intent of becoming a one-stop shop for the oil business. With the growing demand for oil and gas operations in the Texas arena, revenues are expected to continue to rise.
For Drake, the addition of a full-service oil well company will make the advancements into oil and gas development hastened and is lowering capital needed to begin operations. The market today makes it very difficult to schedule equipment needed to perform these services so having them in-house gives Drake the ability to move consistently from project to project without any delays while minimizing risk.
Furthermore, Drake has already made a series of advancements into acquiring oil and gas leases, projects and potential joint ventures to build its portfolio of petroleum operations. The current acquisition and connections already within the industry have located prime targets in South Texas, the Barnett Shale in Texas, California and Louisiana. With the new service division it makes it very easy to obtain projects for low costs and entice current operators to entertain joint ventures.
This is in tune with its recently announced corporate strategy, which is partially outlined here:
"DKGR intends to be a diversified company by operating in the natural resource, petroleum, and alternative energy markets. As a result of ever-increasing scarcity, the market for natural resources is clamoring for diversification and innovative exploration tactics. Potential opportunities for diversification include diamond, gold, silver, copper and other minerals in areas such as Arizona, Oregon, Alaska, British Columbia, the Yukon Territories, and other affiliated sections throughout gold districts in Northern Mexico. DKGR also plans to capitalize on current and long-term trends in energy prices to operate in the petroleum and alternative energy markets."
The Drake team believes acquiring Pegasus Well Services is a step in the right direction -- it minimizes the risk of oil and gas exploration while building solid well-margined cash flows
http://findarticles.com/p/articles/mi_pwwi/is_200606/ai_n16451457
Drake Gold Resources Inc. Completes Formation of the Diamond Exploration and Development Division (Drake Diamonds)
6/14/06
Drake Gold Resources Inc. (PINKSHEETS: DKGR) is pleased to announce the creation of the Diamond Exploration and Development Division or Drake Diamonds.
The formation of this division is based on the targeted zones in Southern Saskatchewan, which are some of the best-known kimberlite discovery areas in the world. The surrounding areas include majors such as De Beers, Shore Gold, Kensington, and Great Western Diamonds among many junior players.
Drake Diamonds also welcomes the newest member of the Drake team, John Marconette. Mr. Marconette has a long-standing reputation in the business of investments and acquisitions of such projects. He has been self-employed for 20 years. He has been involved with turnaround projects, which have moved companies from negative to profitable situations. Most recently he has five years experience in the mining industry and has been exclusively helping DKGR over the last couple months prepare for upcoming acquisitions. The duties will cover the facilitation and acquisition of diamond and mining prospects as well as potential joint ventures in conjunction with targeted areas.
Mr. Marconette is currently aiding in finalizing a potential acquisition for Drake Diamonds of up to 36,000 Hectares in the heart of the southern mining mineral deposit district in Saskatchewan. Complete discloser and maps will be released as soon as possible once the Department of Industry and Resources approves the leases.
The Drake Team is pleased to update shareholders with the most recent activities on the other mining fronts. We have been pending a letter of intent with our strategic partner Thunder Gulch Resources Ltd. and have been informed by our senior consultant, Mr. Norm Pearson that they have completed their decisions on the initial project to acquire.
Information has been drawn up over the last couple months from properties north of the Historical Courtland-Glisan Mining Districts in Arizona that has brought Drake Gold to this point. The intent is to acquire projects that we can put into early production through placer or free gold mining operations to produce a steady cash flow from gold, silver and copper; a very effective and low cost alternative to full scale hard-rock mining for a junior mining company.
Mr. Pearson our senior consultant and President of TGR is a 31-year veteran in the placer mining industry and holds patented rights to placer machining equipment. Mr. Pearson already has equipment to set up operations very quickly and will announce preparations and timeframes to set up the site in Arizona. Complete discloser and maps will be released as the acquisition paperwork is completed.
http://findarticles.com/p/articles/mi_pwwi/is_200606/ai_n16474632
Drake Gold Resources Inc. Announces Completion of the 100% Acquisition of Pegasus Oil Well Services with Projected Revenue of $2.3 Million for 2006
7/10/06
Drake Gold Resources, Inc. (PINK SHEETS: DKGR) is pleased to announce the 100% acquisition of Pegasus Cementers Inc. D.B.A. Pegasus Oil Well Services which is projected to do up to $2,300,000 USD of revenues for 2006.
The projections are based on the current contracts and the expansion model with Drake Gold over the next 6 months and will increase as new contracts are signed for Pegasus Oil Well Services (POWS). Drake Gold plans to purchase and develop 4 cementers, 1-2 fracturing units and one coiled tubing unit to fulfill existing contracts and new business. Drake also has plans to manufacture or purchase drilling rigs as Drake Oil starts to expand into the purchase of new leases and the development of those leases.
Pegasus is a San Antonio based company that services all of South Texas with a growing list of services. Most up to date information will be on the website. ( http://www.pegasusoilwellservices.com ) Drake Gold plans to expand both to Midland Texas and North Texas with the oil well services. The known petroleum deposits of Texas--about 8 billion barrels--make up approximately one-third of the known U. S. supply. The size of the market for oil well services is massive to say the least and Drake Gold plans to capitalize on it to the fullest.
The acquisition is for all restricted stock which is restricted for over 2 years. The purchase price for Pegasus Oil Well Services is $1.8 M and will be paid in 4 restricted stock payments between now and the end of the year.
Thomas Gouger IV, Drake Gold's subsidiaries president and operator commented on the acquisition, "This is a great day for Pegasus Oil Well Services to be allied with an emerging company like Drake Gold, we are very excited about our new parent company and our plans to further grow together!"
As previously mentioned,
"The company plans to expand operations to include complete well services for wells above 10,000 ft. in depth including acidization treatments, cementing, and drilling operations. Pegasus is a growing service provider specializing in cementing for shallow oil, gas, and water wells in the South Texas area.
The company began operations in November of 2001 with the first several months being devoted to training personnel, acquiring, and modifying needed equipment. The company became more active over the first 3 years solidifying its foundation in 2004. Operating with only one cementing unit, its sales for 2005 exceeded $600,000 over a shortened year due to a mechanical rebuild of its main unit.
The company plans on adding additional cementing units, hydraulic fracturing units, drilling rigs, and other needed services, with the intent of becoming a one-stop shop for the oil business. With the growing demand for oil and gas operations in the Texas arena revenues are expected to continue to rise.
For Drake, the addition of a full service oil well company will make the advancements into oil and gas development hastened and is lowering capital needed to begin operations. The market today makes it very difficult to schedule equipment needed to perform these services so having them in-house gives Drake the ability to move consistently from project to project without any delays while minimizing risk.
Furthermore, Drake has already made a series of advancements into acquiring oil and gas leases, projects and potential joint ventures to build its portfolio of petroleum operations. The current acquisition and connections already within the industry have located prime targets in South Texas, the Barnett Shale in Texas, California and Louisiana. With the new service division it makes it very easy to obtain projects for low costs and entice current operators to entertain joint ventures.
The Drake team believes acquiring Pegasus Well Services is a step in the right direction -- it minimizes the risk of oil and gas exploration while building solid well-margined cash flows."
http://findarticles.com/p/articles/mi_pwwi/is_200607/ai_n16522763
Drake Gold Resources Inc. Announces Expansion of Drake Diamonds
7/10/06
Drake Gold Resources, Inc. (PINK SHEETS: DKGR) is pleased to announce the expansion of Drake Diamonds.
The recently formed division is based on the targeted zones in Southern Saskatchewan, which are some of the best-known kimberlite discovery areas in the world, quoted by some as the World's largest. Due to the recent potential projects that are now under review by the Drake Diamond Team the company has decided to open an office in the township of Melfort, SK, Canada.
The new office is mandatory to the Drake Diamond Team to fully be able to implement the strategy for exploration and development of key locations in the Fort a la Corne area. The office number will be set up later this week and will be updated on the contact page on the website. The current mailing address during set up is:
P.O Box 3655
Melfort SK SOE1A0
The Fort a la Carne region is a diamond-studded area with majors such as such as De Beers, Shore Gold, Kensington, and Great Western Diamonds among many junior players. The Fort a la Corne area of Saskatchewan hosts one of the most extensive kimberlite fields in the world. Over 71 kimberlites exist in the Fort a la Corne province and over 70 percent of these have been shown to contain diamonds. The 71+ diamondiferous bodies of the Fort a la Corne (FALC) field form one of the largest diamondiferous kimberlite clusters in the world.
Drake Diamonds also welcomes the newest member of the Drake team, Melvin O'Neil. Being that Mr. O'Neil has been a resident of the Fort a la Corne area for over 53 years, he comes with the knowledge and expertise Drake Diamonds needs to build a strong operation in Saskatchewan. Mr. O'Neil has had 10 years of diamond exploration in which the last three he was with an exploration company in the region. He has the opportunity to work hands on in the area of drilling and core sampling. He has a long-standing reputation with all the locals, providence offices and staff as well as some of the World's largest diamond mining companies in the region. The duties will cover the facilitation and acquisition of diamond and mining prospects as well as potential joint ventures in conjunction with targeted areas.
Mr. O'Neil will be working mono a mono with Mr. Marconette, Drake Gold's most recent addition to the project development team. The two of them together will be working with local officials to lock in some key areas to conduct project exploration.
Mr. Marconette is currently aiding in finalizing a potential acquisition for Drake Diamonds of up to 36,000 Hectares in the heart of the southern mining mineral deposit district in Saskatchewan. Complete discloser and maps will be released as soon as possible once the Department of Industry and Resources approves the leases.
Mr. O'Neil commented on his newly appointed post, "I am very excited to be part of Drake Diamonds and I am looking forward to talking to shareholders and to helping Mr. Marconette in getting this area strong in assets for the shareholders of Drake Gold.
The Drake Team is pleased to update shareholders with the most recent activities on the other fronts. The acquisition of Pegasus Oil Well Services (POWS) is to be announced within the next couple days. Projections of 2006 revenues will be released as well as additional information on the operations of POWS.
Several other Gold Mining Projects have been identified as well as our primary target in South Eastern Arizona in conjunction with Thunder Gulch Resources. We plan to release the acquisition details as soon as they are made available. The initial targets have potential to have cash flows within the first couple months that will provide a diversified income for Drake Gold as it unfolds into a larger resource company.
http://findarticles.com/p/articles/mi_pwwi/is_200607/ai_n16522554
Drake Gold Resources Inc. Advances with the Acquisition of the Jackpot Placer Gold Project in Arizona with Estimated Gold of $36 Million
7/13/06
Drake Gold Resources, Inc. (PINK SHEETS: DKGR) is pleased to announce the completion of a long-term lease acquisition of the Jackpot Placer Gold Project located about seven miles southeast of the town of Quartzsite in La Paz County, Arizona. The placer gold reserves on the Property are estimated to be 60,000 ounces, which, at $600 per ounce, would be worth approximately $36 Million. The leased property consists of three unpatented placer gold mining claims.
Cost of production and operations is estimated at $75-100 per ounce for placer operations. There is also a plan to sell existing gravel on the property, which is estimated at $3-8 million dollars based on information from the lessor. There is a potential market for gravel in local construction areas and would lower cost of operations significantly by selling the gravel on the placer gold project.
THE PROJECT
Geologic evaluations show the placer gravels are up 20 feet deep and contain an estimated 5 million cubic yards of gold-bearing material. Initial assessments suggest area-specific gold resources greater that 60,000 ounces with local values of .250 ounces gold per cubic yard. Evaluation of the Property showed gold is present both in drainages and in numerous trenches on the property that are up to 15 feet deep. The Property is located in the historical Plomosa Mining District, T3N R18W, Sections 4 and 9. The Property consists of three claims comprising 200 acres
Drake Gold will make monthly advance royalty payments to the lessor, which will be credited against 10% production royalties on the gold recovered from the Property. The remaining 90% of the value of the recovered gold will belong to Drake Gold.
Access to the Jackpot Property is via well-maintained asphalt and dirt roads from Interstate 10 at the town of Quartzsite. The alluvial placer gravel consists of schist, granite, and volcanic rocks derived from the Plomosa Mountains to the east, and the gravels are locally cemented by caliche. The schist exposures in the mountains contain gold-bearing quartz veins and stringers, and probably were the original source of the placer gold deposits. The schists are geologically important because they are the host rocks of the numerous prolific vein-controlled gold mines in Arizona.
ACCESS AND INFRASTRUCTRURE
Infrastructure and equipment existing on the property includes: One heavy-duty Hardinge Scrubber, three concrete holding ponds with 150,000 gallons total capacity, 8-inch water well 775 feet deep, 4-inch water well 700 feet deep, 40-foot steel storage trailer, one hopper, and two small fuel tanks. Also the site comes with a watchman on site to provide security for operations.
PARKINSON GEOLOGICAL SERVICES (PGS)
In addition to this new acquisition for the Drake Gold collection, we have enlisted the services of a fully registered Arizonan geologist, Craig L. Parkinson, RG, CPG, Arizona Registered Geologist #30843 and AIPG Certified Professional Geologist #10098, National Instrument 43-101: Independent Qualified Person. Mr. Parkinson is the president of the successful consulting firm Parkinson Geologic Services or PGS. ( http://www.parkinsongeologic.com )
Parkinson Geological Services will aid Drake Gold in efforts to develop the Jackpot property and begin gold production as soon as possible. PGS can provide professional mining services in the following areas: obtain Notice of the Intent (Permit) to conduct surface mining operations, conduct preliminary geologic evaluation of the property to estimate additional gold resources, recommend specific area(s) for initial gold exploration and development, aid in review of additional properties, development of the operations model and assist with preparation of press releases.
Mr. Parkinson of PGS said, "It is exciting with recent gold prices to work with an aggressive team like Drake Gold and to bring this company into production as soon as possible, The Jackpot Property is the first of many projects I hope to do with Drake Gold."
The Jackpot Property could receive the necessary permit(s) in a few weeks time, which could put the project into operations within 60 to 90 days. Additional information, including studies and maps, will be posted to the Drake website as they are made available.
The Drake Team is pleased to present the second project for DKGR shareholders. This project is part of the corporate strategy of expanding cash flow operations to build a diversified base as a profitable company during our first year of operations. Drake Gold just completed the acquisition of Pegasus Cementers D.B.A. Pegasus Oil Well Services ( http://www.pegasusoilwellservices.com ) that is already projected to do $2.3 Million in 2006. In addition to the Jackpot Project, we plan to complete the initial letter of intent on a placer gold, silver and copper project between the two large deposits in southeastern Arizona, the Commonwealth Mine that produced over a million ounces of gold over the last century and another key location that will be later disclosed.
http://findarticles.com/p/articles/mi_pwwi/is_200607/ai_n16536289/pg_1
Drake Gold Resources, Inc. Corporate Update
7/20/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to provide a corporate update.
The Company intends to apply for quotation of its stock on the Over-the-Counter Bulletin Board (“OTCBB”). In order to do so, the Company will need to file a registration statement to become a reporting company under the Securities Exchange Act of 1934. The Company is in the process of preparing the necessary documents. The Company will be required to file audited financial statements and is presently meeting with prospective accounting and auditing firms. It expects to select an accounting firm and an auditing firm within the next two weeks and to immediately begin preparation of audited financial statements. The Company intends to make further public announcements to keep investors informed of developments.
Management has conducted a review of the Company’s various pending projects and determined that it would be in the best interests of the Company to cancel its diamond recovery plans, which were intended to include opening an office in Saskatchewan, entry into the lottery of potential projects in the Fort a la Corne region, and engaging Mr. Melvin O’Neil as a consultant with respect to such operations. Instead, the Company will focus its efforts on other pending projects and acquisitions, including gold and other precious metals recovery, the exploration and development of oil and gas deposits including re-completions, and oil well services, in particular the Jackpot placer gold claim and the Pegasus Oil Well Services project.
As announced on March 29th, 2006, Drake Gold Resources, Inc. is planning to spin off all specialty assets used under the Company’s previous business model. Discussions are still continuing with a company interested in purchasing these assets and they will update shareholders as soon as developments occur.
http://findarticles.com/p/articles/mi_pwwi/is_200607/ai_n16631135
Letter to the Shareholders of Drake Gold Resources, Inc.
9/13/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR)
To the shareholders of Drake Gold Resources:
As interim CEO and President, it is with great enthusiasm that I update the shareholders of Drake Gold Resources, Inc. First, let me express my continued optimism for the future of the company. This optimism includes current developments as well as additional opportunities that present themselves on a constant basis.
As part of my effort to keep the investment community informed, Drake is implementing a plan to incorporate a high level of transparency into its operations and finances. DKGR's status as a "pinksheet" stock can create a level of apprehension. This is why Drake's goal is to provide shareholders with the information they deserve.
In keeping with this renewed effort, Drake will release the complete current share structure on Friday and will update its website with any future changes in share structure. Any updates will be posted immediately to keep you informed. In addition, on Friday Drake will release the details of its condition, operations and strategic plans as a junior mining company.
As a shareholder myself, I encourage other shareholders to express their points of view to the management team as we are building this company for mutual benefit. I am posting my personal cell phone number here so that you may contact me directly at anytime.
Clayton Smith
Cell: 310-728-9445
Email: Info@DrakeGold.com
http://findarticles.com/p/articles/mi_pwwi/is_200609/ai_n16716182
Letter to the Shareholders of Drake Gold Resources, Inc.
9/15/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR)
To the shareholders of Drake Gold Resources:
We are now entering into the audit stage as previously outlined in our press announcements and will soon be a fully reporting company. By increasing transparency we hope to earn the trust of our investors. We will demonstrate that we are not the typical "pinksheet" that frivolously over issues shares to consultants and affiliates, diluting the company and shareholder value.
To prove my sincerity on the issue, I have personally loaned money to Drake as well as provided for the daily expenses of the company without any share issuance. I have made these loans in good faith because I am confident that the cash flows from our gold mining operations will provide an increase in shareholder value to me as well as to all of the company's shareholders.
To clarify, since the inception of Drake in February of 2006 there have only been 13,333,330 restricted shares issued for LOI, Pegasus Oil Well Services and legal work. New issuances will likely occur but only in the normal course of operations, including future acquisitions.
Although these are the only shares issued since the takeover of Drake, In the interest of full disclosure the company is releasing the amount of shares still held, not traded, by the transfer agent. This total reflects issuances that were related to the previous management and business model. The company intends to reduce the outstanding shares. Any share cancellations in the future will be released to the public openly to serve the interests of improving the company structure without employing reverse splits that are common among young companies.
Drake has made tremendous strides to building shareholder value by acquiring Pegasus and the Jackpot Placer Project. I have also personally funded the Jackpot project to this date. An update on the production plans will be released mid next week. The update will include an explanation of the timing of the BLM Operation Permits, arrival of equipment and geological report as outlined by Craig Parkinson, Drake Gold's primary geologist. (Craig L. Parkinson, RG, CPG, Arizona Registered Geologist #30843 and AIPG Certified Professional Geologist #10098, National Instrument 43-101: Independent Qualified Person. Mr. Parkinson is the president of the highly regarded consulting firm Parkinson Geologic Services (PGS). http://www.parkinsongeologic.com )
The Pegasus Project acquisition was structured in its entirety using stock based on the share price over the course of this year. Due to the recent decline in share price the management of Drake has had to weigh the benefit of the acquisition versus the amount of shares that would have to be issued. As per the contract, Drake would have to issue 700 Million restricted shares to complete the full acquisition of Pegasus Cementers D.B.A. Pegasus Oil Well Services. To this end the acquisition of the 5-year-old business does not fit into our low dilution, high return model. As of this release we are officially canceling the acquisition of Pegasus to fully focus on the development of profitable mining operations. Once the value of Drake shares has increased to a substantial level then we may reconsider the acquisition of Pegasus.
The total shares issued and outstanding are, and will continue, to be updated at our website, http://www.drakegold.com/default.asp?Page=InvestorStockInfo
In addition to a complete update on the operations at the Jackpot Placer Project, during the course of next week we have a series of new professional mining directors and officer additions that will be announced.
As I previously mentioned, I am a shareholder myself, I encourage other shareholders to express their points of view to the management team as we are building this company for mutual benefit. I am posting my cell phone number here so that you may contact me at any time.
Clayton Smith
Cell: 310-728-9445
Email: Info@DrakeGold.com
http://findarticles.com/p/articles/mi_pwwi/is_200609/ai_n16730251
Drake Gold Resources, Inc. Is Pleased to Announce the Completion of Its Initial Assessment of the Jackpot Placer Gold Project and Announcement of Operations
9/22/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce the completion of its initial assessment of the Jackpot Placer Gold Project located about seven miles southeast of the town of Quartzsite in La Paz County, Arizona. Independent geologist, Craig Parkinson, identified approximately 2,050,000 cubic yards of gold-bearing material containing an estimated 205,000 ounces of placer gold resources using a possible grade of .100 ounces per yard. This resource estimate far exceeds the original estimate of 60,000 ounces by previous geologists, and translates into an average of .0667 ounces of gold per ton across the three claims comprising 200 acres.
The numbers reflected in the finalized geological report are conservative thereby revealing the potential for yielding even higher production values. Mr. Parkinson has stated that the Jackpot property "yields above average potential especially considering the gold obtained from past production on the property was extracted using inadequate methods in the past."
Summary
Total estimated gold bearing placer gravel: 2,050,000 cubic yards.
Estimated gold per ton: .0667 OZ. (Based on 1 ton = 1.5 cubic yards)
Total preliminary estimated ounces of gold: 205,000 OZ.
Total dollar potential: 205,000 OZ. multiplied by $500 = $102,500,000
(Gross Proceeds)
Current Parkinson Geologic Services Jackpot Placer Property Mining Evaluation available here in Acrobat PDF format (PDF reader) (Sept. 22nd, 2006):
http://www.drakegold.com/operations/JackpotProperty/Jackpot_Mining_Eval_092206.pdf
BLM Operation Permits
With the initial geological report completed, Drake will now complete its application for the BLM Operation Permits. The permit application should take about a week to complete and contains information such as the location of operations, the current land disturbance level created by prior operations, the estimated new disturbance that is to be created by projected operations, and the length of time the permit is to be in effect. After the permit is submitted, a reclamation bond amount will be set. This bond is to ensure that the land is restored back to within set guidelines after the termination of operations. The approval process for the BLM Operation Permit is normally 2-3 weeks.
Equipment
While waiting for the BLM Operation Permits to be issued, Drake will continue to acquire the equipment necessary to begin operations. To date, Drake has secured the use of the most expensive single piece of equipment necessary for a placer operation: the Caterpillar D9. This heavy bulldozer now resides on the Jackpot property and will be used to start stockpiling gold bearing material next week in preparation for processing. In addition, the water well which resides on the property has been repaired and is functioning. Equipment still needed are a Scrubber, Trommel, Concentrator, and a 100kw generator. Drake has located each of these items and is currently in talks to acquire them via lease or outright purchase. Normally, using this equipment, Drake could expect to process 40-45 cubic yards of gold bearing material an hour. However, utilizing the expertise of Norm Pearson, his "Rock Box" and constructing a plant, Drake is projecting with the upgrades to process up to 100 - 300 cubic yards an hour or 150 - 450 tons at its peak. Using the estimate of .0667 ounces of gold per ton, the operation may yield 10 - 30 ounces of gold an hour.
Interim CEO Clayton Smith was excited to say, "Although we were hoping to release the information previously, we are now happy to say that we will be starting operations as early as next week. Yesterday, Norm Pearson, Drake's Project Manager, and Craig Parkinson, Drake's Geologist, discussed the plan of operations after review of the report and have now outlined the next few steps that will make Drake Gold a precious metal producer."
Commenting on the addition of other experienced mining management, he continued to say, "We are now bringing in a mining team that will ensure the success of Drake's mining operations. This includes a new CFO, several directors, a compliance attorney, a business analyst and eventually a new CEO and President once I believe I have brought Drake to the producing and compliant level that will guarantee growth of shareholder value. Announcements will be made starting next week due to the fact we are now starting operations."
http://findarticles.com/p/articles/mi_pwwi/is_200609/ai_n16742072
Independent Geologist for Drake Gold Raises Estimation to $102M of Recoverable Placer Gold From Jackpot Placer Project
9/25/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce the completion of its initial assessment of the Jackpot Placer Gold Project located about seven miles southeast of the town of Quartzsite in La Paz County, Arizona. Independent geologist, Craig Parkinson, identified approximately 2,050,000 cubic yards of gold-bearing material containing an estimated 205,000 ounces of placer gold resources using a possible grade of .100 ounces per yard. This resource estimate far exceeds the original estimate of 60,000 ounces by previous geologists, and translates into an average of .0667 ounces of gold per ton across the three claims comprising 200 acres.
The numbers reflected in the finalized geological report are conservative thereby revealing the potential for yielding even higher production values. Mr. Parkinson has stated that the Jackpot property "yields above average potential especially considering the gold obtained from past production on the property was extracted using inadequate methods in the past."
Summary
Total estimated gold bearing placer gravel: 2,050,000 cubic yards.
Estimated gold per ton: .0667 OZ. (Based on 1 ton = 1.5 cubic yards)
Total preliminary estimated ounces of gold: 205,000 OZ.
Total dollar potential: 205,000 OZ. multiplied by $500 = $102,500,000
(Gross Proceeds)
Current Parkinson Geologic Services Jackpot Placer Property Mining Evaluation available here in Acrobat PDF format (PDF reader) (Sept. 22nd, 2006): http://www.drakegold.com/operations/JackpotProperty/Jackpot_Mining_Eval_092206.pdf
BLM Operation Permits
With the initial geological report completed, Drake will now complete its application for the BLM Operation Permits. The permit application should take about a week to complete and contains information such as the location of operations, the current land disturbance level created by prior operations, the estimated new disturbance that is to be created by projected operations, and the length of time the permit is to be in effect. After the permit is submitted, a reclamation bond amount will be set. This bond is to ensure that the land is restored back to within set guidelines after the termination of operations. The approval process for the BLM Operation Permit is normally 2-3 weeks.
Equipment
While waiting for the BLM Operation Permits to be issued, Drake will continue to acquire the equipment necessary to begin operations. To date, Drake has secured the use of the most expensive single piece of equipment necessary for a placer operation: the Caterpillar D9. This heavy bulldozer now resides on the Jackpot property and will be used to start stockpiling gold bearing material next week in preparation for processing. In addition, the water well which resides on the property has been repaired and is functioning. Equipment still needed are a Scrubber, Trommel, Concentrator, and a 100kw generator. Drake has located each of these items and is currently in talks to acquire them via lease or outright purchase. Normally, using this equipment, Drake could expect to process 40-45 cubic yards of gold bearing material an hour. However, utilizing the expertise of Norm Pearson, his "Rock Box" and constructing a plant, Drake is projecting with the upgrades to process up to 100 - 300 cubic yards an hour or 150 - 450 tons at its peak. Using the estimate of .0667 ounces of gold per ton, the operation may yield 10 - 30 ounces of gold an hour.
Interim CEO Clayton Smith was excited to say, "Although we were hoping to release the information previously, we are now happy to say that we will be starting operations as early as next week. Yesterday, Norm Pearson, Drake's Project Manager, and Craig Parkinson, Drake's Geologist, discussed the plan of operations after review of the report and have now outlined the next few steps that will make Drake Gold a precious metal producer."
Commenting on the addition of other experienced mining management, he continued to say, "We are now bringing in a mining team that will ensure the success of Drake's mining operations. This includes a new CFO, several directors, a compliance attorney, a business analyst and eventually a new CEO and President once I believe I have brought Drake to the producing and compliant level that will guarantee growth of shareholder value. Announcements will be made starting next week due to the fact we are now starting operations."
http://findarticles.com/p/articles/mi_pwwi/is_200609/ai_n16742137
Drake Gold Resources Welcomes Two Mining Professionals to the Board of Directors
9/28/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce two new appointments to the Board of Directors.
Drake Gold Resources, Inc. announces the addition of John Cerenzia to the Board of Directors.
A graduate of the Canadian Institute of Management (CIM), Mr. Cerenzia's many years of experience with small capitalization and junior resource companies add immediate value to Drake. He has served as president or director for several TSX-V listed companies:
-- Alive International Inc. (now Simberi Gold Corporation), a mineral
exploration company with properties located in Papua New Guinea and Western
Australia
-- 701 Media Group (now YSV Ventures Inc.), a mining company with
properties in Ontario
-- Wycliffe Resources, a soon to be listed TSX company with diamond
exploration properties in Northern Ontario
-- Richview Resources, a mining company with properties in Ontario
-- Hellix Ventures, a company with properties in Mexico and producing oil
and gas properties in Western Canada
Mr. Cerenzia was also former president of Aquarius Investment Group, a private company, and worked for the Ontario Ministry of Transportation as a Systems Business Analyst for 32 years.
Currently, Mr. Cerenzia serves as president of CerCan Communications Inc., a private company, and sits on the board for Simberi Gold and Kent Exploration. With his extensive knowledge and active involvement in financing and management related to mineral resource exploration, John Cerenzia will immediately assist in ushering Drake into its next phase of growth.
Drake Gold Resources, Inc. announces the addition of John Marconette to the Board of Directors.
Mr. Marconette has a successful long-standing reputation in the business of investments and acquisitions. He has been self-employed for 20 years where he has been involved with turnaround projects which have transformed companies from negative to cash flow positive. For the past five years, Mr. Marconette has been involved in the mining industry matching mining companies with profitable projects. Over the past 6 months, John Marconette has been exclusively helping DKGR prepare for upcoming acquisitions including the facilitation of the acquisition of the Jackpot Placer project. Mr. Marconette will continue to prepare the Jackpot Placer project for gold production while he reviews several other opportunities aimed to increase Drake Gold's net cash flow.
Drake Gold Resources, Inc. would like to thank Nia Stefany for her work with Drake while acting as interim CFO, Secretary, and director. During her four-month contract, she helped lay the foundation for Drake Gold to become a profitable mineral exploration company as well as a fully reporting company. In a coming news release, Drake will be announcing a new CFO whose duties it will be to manage Drake's accounting, auditing, and financial position on a full time basis. In addition, Drake will also be welcoming a compliance attorney who will manage Drake's legal affairs and continue the OTCBB listing process.
Clayton Smith, interim CEO and President said in regards to the changes in management, "Drake Gold is thankful to have such mining talent join the board of directors. We are now moving fast into the production phase and are sticking to our plans of acquisition that will produce profits with little or no dilution. This is the next chapter of Drake Gold and we are confident our shareholders will openly welcome the new team as we start to increase shareholder value."
http://findarticles.com/p/articles/mi_pwwi/is_200609/ai_n16755555
Drake Gold Resources Announces the New Corporate Location, Pay Dirt News Article, Audio Interviews and Signing Up for Email Newsletter
10/12/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce the move to a New Corporate Location, the Pay Dirt News Article, the Audio Interviews and signing up for Email Newsletter.
NEW CORPORATE LOCATION
Drake Gold Resources Inc. (DKGR)
7150 East Camelback Road,
Suite 455
Scottsdale, AZ 85251
Office: 480-467-4469
Clayton Smith, interim CEO and President, said, "The new office will give us a central location in between our operations in Arizona and directly connected to the mining industry in this area. Many of our strategic partners are in this area and we will be able to focus on building our cash flow projects with a direct connection."
PAY DIRT (REGISTERED) NEWS ARTICLE
Drake Gold is pleased to announce the release of a printed article in the Arizonian mining publication Pay Dirt (Registered). We have copied the article for investors to see at our website: http://www.drakegold.com
DRAKE GOLD RESOURCES AUDIO INTERVIEWS
Drake Gold Resources is pleased to announce the genesis of corporate audio interviews. Drake Gold Resources will use this tool to mass communicate to the shareholders. There will be interviews with key management and updates as more news is published. This way the company can maintain its goal of complete transparency and make sure investors know what the complete picture is.
Today we are pleased to offer two interviews (interviews may sound a bit distorted, transcripts will be made available shortly). The interviews will be posted on the website: http://www.drakegold.com
-- Clayton Smith, Interim CEO and President
-- Dan Patch, Land Owner of the Jackpot and Copperstone Mines
John Marconette, a member of the board of directors, said, "Drake Gold is pleased to update shareholders with continued progress on our mining operations via the new planned interviews and give insight on the valuable relationship with Dan Patch, land owner of the Jackpot Placer Project. Mr. Patch's expertise in this area and his support on our project will prove to be very valuable for Drake Gold and its shareholders."
http://findarticles.com/p/articles/mi_pwwi/is_200610/ai_n16778980
Drake Gold Announces Strategic Review of Potential Naked Short Selling Utilizing a Combination of Tools Including the ADP: NOBO and OBO Lists
10/16/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce the company has been ordering a combination of tools to completely determine the extent of the potential naked short selling problem that is involved with Drake Gold Resources Inc. trading under the symbol of PINKSHEETS: DKGR.
The company has suspected a naked short selling attack on Drake Gold Resources Inc. since the previous company did a 1 for 10 forward-split in December of last year. Although only a minor amount of restricted shares have been issued, the company has experienced an abnormally large amount of trading relative to its low float over the past 10 months. This issue has become a growing problem in the stock markets, even more so in the small cap stocks where regulation is not enforced as strictly as big board companies residing on the NYSE and NASDAQ exchanges. The company has suspicions that this may be causing the difficulty the market has had in moving past 52-week highs.
http://findarticles.com/p/articles/mi_pwwi/is_200610/ai_n16778448
Drake Gold Announces the Addition of a New Vice President
10/25/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce the signing of Dave Zamida as Vice President of Strategic Operations.
As president and CEO of Royal Okanagan Mining www.BCgold.ca , Dave's mining experience has been gained vastly through his focus on acquisition, exploration and development of mineral deposits of the Canadian Cordilleran region (British Columbia) and Abitibi Greenstone belt (Ontario). He currently manages a vast portfolio of high priority placer and mineral targets with gold, platinum, copper and nickel properties spanning 30,000 acres and growing, and additional interests in plutonic deposits such as uranium, gemstones and geothermal resources. The company's clientele includes public and private mining companies and investors.
In addition to his mining experience, Dave's financial and marketing background is relevant and diverse. Marketing experience includes sales and consultation with key corporate accounts for one of the largest publicly traded media brands worldwide, currently and for the last 6 years. As such he is responsible for extensive improvements to business models within his niche.
Dave's 9-year financial competencies include tenure as senior recovery officer for national lenders and crown corporation portfolios, including 3 years with Equifax Risk Management. Dave has also been engaged as an independent business development consultant.
Said of his recent engagement with Drake, "Drake Gold's collaboration of infrastructure and focused, attentive management earmarks itself for success as an innovative junior miner. Through already extensive liaison, Drake's board members clearly demonstrated a shared sense of vision, urgency and feasibility. In the coming months, we expect to see these values crystallized by the output of the Jackpot mine in Arizona."
Clayton Smith, interim CEO and President said, "Appointing Dave as Vice President of Strategic Operations reinforces my vision of a strong management team that will take Drake Gold to the next level. Dave's expertise in the mining arena and his current connections in placer mining will help us strengthen our diversified placer operations. Coupled with our project manager Norm Pearson's selection of properties, Drake Gold is clearly rich with opportunity."
http://findarticles.com/p/articles/mi_pwwi/is_200610/ai_n16796878
Drake Gold Announces Jackpot Placer Project Update
11/8/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce an update on the progress of the Jackpot Placer Project as the company moves closer to the production stage on its primary project.
PREPARATIONS FOR OPERATIONS
As previously released, a Caterpillar D9 and a front-end loader are currently on site and are ready to be used during full operations. However, authorized under BLM guidelines is the allowance for "maintenance" to be conducted on site prior to receiving approval of permits approving full-scale operations. Drake has utilized this allowance to begin stockpiling "paydirt" or gold-bearing material in preparation for processing. To date an on-site worker under the direction of Dan Patch, the land owner of both the Jackpot and Copperstone mines, has been actively stockpiling paydirt. Currently, more then 3000 cubic yards of paydirt has been stockpiled and is ready for processing.
ON-SITE VISIT
Last week the Drake management made a trip to the Jackpot Placer Project to review the properties development level, inspect existing equipment, look at formations, take additional samples and meet existing crew on site.
Our project manager Norm Pearson and part of his team joined the Drake management team on site and had this to say, "It is a pleasure to make this trip onto the 200 acre site in SW Arizona which has turned out to be very exciting. The project is set up to begin a full-scale placer operation in which I can bring my technology and expertise to the operation." Mr. Pearson's "rock box" technology has been used world-wide by over 180 different operations including majors such as gold company Placer Dome who seek higher placer results.
He continued to say, "Based on the geological report presented by Craig Parkinson estimating .10 ounce of gold per cubic yard we are planning to set up a minimum of a 100 cubic yards an hour plant. We want to maximize this project to full capacity so that the sale of gold may be used to expand other projects Drake Gold has available."
A series of paydirt samples, pictures and video interviews were taken on site. The paydirt samples were taken from various stockpiles on the property to better evaluate potential levels of gold. With the technology that Mr. Pearson and his team possess recovering the minutest gold particles is possible, even "flour gold." He was quoted saying, "If you can see it we can recover it with my plant."
Mr. Pearson processed some of the paydirt samples through a small processing plant he owns over in Wilcox, AZ last week. About the results he commented, "The paydirt has revealed very encouraging amounts of gold in it. We are very eager to complete the set up of the processing plant and begin to mine the entire area."
JACKPOT PICTURES (Will be updated shortly)
http://www.drakegold.com/default.asp?Page=OperationsJackpotGallery
BLM PERMITS
Last week management was informed by Craig Parkinson, Drake's hired geologist, that the BLM permits have all been completed and the application has been sent to the state department. The approval process is normally 2-3 weeks but due to the relationship Dan Patch has with the BLM it is thought that it could be completed sooner. In addition, because existing work was performed on site years ago, the reclamation bond is expected to be much lower than expected allowing Drake to incur a lower capital expenditure.
Drake Gold's project management team is now preparing a budget and a request for additional equipment. We are staying focused on our low dilution cash flow driven model and are reviewing plans to acquire the needed plant. Through Mr. Pearson, Drake has direct access to key equipment he owns from other placer sites. Management is also reviewing options to acquire equipment in the most cost efficient manner and is dealing directly with lenders while evaluating possible equipment lease financings to complete the purchases as needed.
http://findarticles.com/p/articles/mi_pwwi/is_200611/ai_n16821877
Drake Gold Announces Equipment Arrivals and Operational Plans on Jackpot
12/8/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce it has made significant steps toward moving the Jackpot Placer Project into production. In addition to heavy equipment that has been used to stockpile paydirt, Drake Gold Resources has acquired the necessary equipment used for processing alluvium ores.
EQUIPMENT ARRIVALS AND ACQUISITIONS
Last week a scrubber, which was purchased by project partner Dan Patch, arrived on site. The scrubber is used to "clean" the ore, separating valuable material from the aggregate. In addition to the scrubber, Drake has acquired a trommel. The trommel is a screened cylinder used to separate materials by size. The trommel is scheduled to arrive within the next week. The acquisition of the trommel is the final major piece of equipment needed to start gold recovery due to the fact that a concentrator has been deemed unnecessary for this operation. Instead, a riffle board will be used. A large generator used for incidental power needs is also slated for arrival in concert with the trommel.
Recent operations have included use of the Caterpillar D9 and a front-end loader already on site. The two earthmovers have been used to stockpile paydirt in order to expedite the gold recovery process, as the last pieces of new equipment are set up for mining operations.
COMMENCING OPERATIONS
Drake Gold is still awaiting final approval of its BLM permits to begin operations. Unfortunately, this process has taken longer than expected due in part to the fact that the BLM has scheduled a geologist to visit and survey the Jackpot property in order to accurately assign a value to the reclamation bond. Once the BLM geologist has rendered his assessment and the permit is approved, operations are expected to begin. With the equipment on-hand, Drake is estimating being able to process 40-45 cubic yards of paydirt an hour. Processing will initially run 10 hours a day with round-the-clock operation anticipated as ore production increases.
Clayton Smith, interim CEO and President, said, "We are very eager to start gold recovery on this project and prove to investors that we are building a positive cash flow-driven business. This will be our first project to go into production and will lead the way to new projects as we diversify our business model. We are very eager to complete this step and excel Drake Gold into 2007."
PRODUCING RESULTS
As stated previously, geologist Craig Parkinson's report estimates that 1/10th of an ounce of gold is expected per cubic yard. The processing of the first 3000 cubic yards will deliver much firmer numbers which should be available soon after production starts due to the fact that approximately 6000 yards of paydirt has already been crushed and prepared for processing.
Based on an assessment of all available information, Senior Mining Consultant Norm Pearson has concluded the following earnings projections are possible at just 100 yards of ore processing per hour. This projection has led to his recommendation for Drake Gold to expand to a larger plant. The following estimate includes the increased costs related to the expansion of operations to a 100 c/y/h plant. The cost and projection explanation and available information will be posted on the website: http://www.drakegold.com/default.asp?Page=OperationsJackpotProjections
Senior Consultant and Project Manager Estimations
Value in ground = $102,090,000
Mining cost = $20,329,000
Projected Profit = $81,761,000 in 6 5/6 years
http://findarticles.com/p/articles/mi_pwwi/is_200612/ai_n16887020
Drake Gold to Create New Public Company for Petroleum Projects
12/12/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce its plans to create a new public corporation as a spin off from Drake Gold to separate the oil and gas operations of the company.
OIL AND GAS PROJECTS
Drake has made a series of advancements into acquiring oil and gas leases, projects and potential joint ventures with which it hopes to create a diverse and lucrative petroleum operations portfolio. Current management already possesses connections within the industry and have located prime drilling opportunities in Texas, particularly the Barnett Shale, Kansas, and California. With the Jackpot property nearing its production stage, Drake management has seized this opportunity to actively expand its natural resource exploration via a spin into a new corporate entity.
OIL AND GAS SPIN OFF
A new corporate entity will be created for the purpose of petroleum exploration and will be independently managed and traded. The new subsidiary will have a public offering and will be organically formed thus allowing it to raise necessary capital without incurring dilution to Drake Gold shares. Creating this new company will also allow Drake Gold shareholders to directly benefit from Drake's petroleum business opportunities through the use of a dividend while segregating the operations of gold production and oil exploration.
SPIN OFF DETAILS
Drake Gold Resources Inc. will be solely responsible for the spin off and will remain the controlling interest and principle shareholder in the new public subsidiary. A control block of preferred shares will be issued to Drake Gold, convertible to over 51% of the issued and outstanding shares, thus making Drake Gold the largest shareholder. An additional 30,000,000 (30 MILLION) shares of restricted common stock will be issued from the new company to Drake Gold and subsequently issued as a dividend to Drake Gold shareholders. Using an outstanding share total of 830,000,000 as an example, a shareholder holding 500,000 shares of Drake Gold would receive a dividend of approximately 18,000 restricted shares of the new company's stock.
DEADLINES AND SPECIFICS
The dividend will be issued to shareholders of record on January 3rd 2007. Only those shareholders holding 25,000 or more shares of DKGR on January 3rd 2007 will be eligible for this dividend. The shares will be issued via Drake Gold's current transfer agent Transfer Online ( http://www.transferonline.com ) upon final completion of the new company's structure.
Clayton Smith, interim CEO and President, said, "This step to expand value for Drake and its shareholders directly follow the model we have promised to our investors. We continue to grow the value of the company without large dilution. This new company gives us the ability to maximize the book value of Drake and segregate the management of precious metal mining and oil and gas recovery. Going into production on our first placer gold project as well as acquiring new projects is positioning Drake Gold to excel this next year."
http://findarticles.com/p/articles/mi_pwwi/is_200612/ai_n16886529
Drake Gold Signs Joint Venture With North Star Strategic Minerals Inc.
12/19/06
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce a new joint venture with North Star Strategic Minerals Inc., a subsidiary of North Star Diamonds Inc., to begin exploration and mining operations on the Gold Star Property located in southeastern Manitoba.
DESCRIPTION OF DEPOSIT AND SURROUNDING AREAS
Located 200 meters west of the Falcon Lake intrusive complex, the Gold Star property consists of quartz stringers within a shear zone found amongst volcanic conglomerates. Mineralization consists of pyrite, chalcopyrite and arsenopyrite. Volcanic regions such as this typically produce consistent amounts of ore and other minerals. Mines in the area confirm this trend. The neighboring Gem property has assayed 8.09 oz/ton gold. The Gem property is surrounded on three sides by the Gold Star property leading Drake Gold to believe a large potential for gold retrieval exists on this property. In addition to mining gold and other precious metals, the process should produce ornamental rock, which could be used to supply the landscaping and building industry.
GOLD STAR PROPERTY HISTORY OF EXPLORATION
The Gold Star property was first staked in 1890 and a sample taken assayed 5.30 oz/ton gold with traces of silver. Through the years, several additional samples have been taken by independent parties revealing results of up to 11.78 oz/ton. As recent as 1986, Troymin Resources Ltd. performed an evaluation report on the star group of claims including the Rad and Sheba occurrences, both of which are on the Gold Star property. Chip samples revealed assays ranging from trace to .28 oz/ton while a grab sample with quartz from the Rad trench assayed .77 oz/ton. In addition, Mag and VLF surveys were performed and magnetic trends and conductive zones revealed folding. This report recommends detailed mapping and sampling and soil geochemical surveys.
EXPLORATION PROGRAM
The potential of the Gold Star property is enticing. This property has never been commercially mined and preliminary results from other mines in the area seem to indicate great opportunity. Although a full geologist report has not been conducted on the property, the preliminary opinion of geologists who have spent time on the property is that the property rates between good and excellent for producing significant amounts of gold. Drake Gold Resources will spend the next several months conducting in-depth surveys and geological evaluations to determine a long-term plan for this property. Initially, Drake Gold Resources estimates it will be spending the next 7-10 years developing this property as a producing mine. This time commitment should benefit long-term shareholders as the price of gold continues to rise.
PARTNERSHIP DETAILS
Drake Gold Resources Inc. will have a 50% working interest split equally with North Star Strategic Minerals Inc. It is planned that an exploration program will begin and will translate into gold recovery, as target locations are determined. The work program will be jointly funded between both Drake Gold and North Star Strategic Minerals Inc.
http://findarticles.com/p/articles/mi_pwwi/is_200612/ai_n17070917
Drake Gold Dividend Issuance and the Jackpot Placer Permit Process
1/24/07
Drake Gold Resources, Inc. (PINKSHEETS: DKGR) would like to make known the present state of affairs in regard to the recent announcement of its subsidiary dividend issuance. After the record date was established it became evident that shares held in escrow and those due for cancellation would dilute the dividend for the average shareholder. Upon further review of the current share structure and plans to cancel shares, Drake is rescinding the originally announced record date of January 3rd, 2007 to be replaced by an updated record date to be announced. Drake anticipates this change will allow more dividend shares to be issued to the common shareholder.
With regard to the Jackpot Placer project, it has become apparent to management that there exists a need to have a more measured expectation of the BLM permit filing and approval process. New standards and additional approval steps have been brought to light as staff changes occur at the BLM office. These changes are also affecting many other companies in the area. Therefore, Drake Gold Resources, Inc. has hired a local area professional geologist to work closely with the BLM, and obtain a clear understanding of all paperwork and filings necessary to acquire a permit for placer operations on the Jackpot property. In addition, this professional will fill out and submit these filings as well as monitor its approval status on a regular basis.
The professional geologist met with the Bureau of Land Management on January 17th to discuss in detail all necessary steps for obtaining the permits. This meeting has yielded the necessary information to enable Drake Gold to obtain approval without further delay. At this time Drake Gold is doing all it can to complete this process but will wait to release timeframes until it is closer to completion.
In this regard, interim CEO Clayton Smith stated that, "Though this temporary delay is very frustrating for management as well as shareholders, we value the BLM's desire to protect natural resources and ensure the well being of the environment. Bringing in a local geologist will grant us the ability to comply with all guidelines and expedite mining operations for the Jackpot Placer Project. We need to keep in mind that making sure we are in compliance insulates us from liabilities down the road."
While we continue the transition to becoming a precious metal producer, important updates on permitting, acquisitions, the OTCBB listing process and further developments will be posted at WWW.DRAKEGOLD.COM . Current and future shareholders are encouraged to submit comments and questions for review and public replies released via the CEO Corner and its eNewsletter, both available on the site.
ABOUT LOCAL GEOLOGIST
The local geologist has over 24 years of experience in the geological sciences, waste management, site characterization, property assessments, design and permitting of remediation systems, soil and groundwater remediation and mining. He has been responsible for managing a professional staff to ensure regulatory compliance, quality assurance and maintenance of project schedule and costs. His project experience includes extensive work in soils and groundwater investigations, site mitigation modeling, site remediation selection and design, and site closure. His registrations include: Professional/Registered Geologist (Arizona and California), Certified Remediation Specialist (Arizona), Certified Professional Geologist (AIPG), Registered Environmental Assessor (California), Environmental Response Manager (EPA Certification).
http://findarticles.com/p/articles/mi_pwwi/is_200701/ai_n17144084
Drake Gold Resources, Inc. Brings Oil and Gas Expert Aboard as Advisor
8/1/07
Drake Gold Resources (PINKSHEETS: DKGR) is pleased to announce that Mr. Michael Krasner has joined the organization to serve as a special advisor as the company works to create an Oil and Gas Subsidiary. Mr. Krasner has a 30-year history in the oil and gas industry and is a member of the Society of Petroleum Engineers. In his role as a project manager in the industry, he has helmed more than 100 successful oil and gas drilling projects. His career has included such challenging recovery efforts as offshore and horizontal drilling. Mr. Krasner brings this formidable skill set to the company and its Oil and Gas Subsidiary.
As Gas and Oil recovery becomes more lucrative, it also is proving to be more challenging. To stay competitive, companies must develop deeper, more remote and ambitious projects. The addition of Mr. Krasner means that DKGR's spin-off will have the expertise needed to meet these demands and create a high value portfolio of oil and gas recovery operations.
Mr. Krasner's auspicious career began at the age of 21 when he became the youngest drilling and production supervisor for Enserch Exploration, Inc., in Oklahoma. Since his promising start in the industry, Mr. Krasner has continued to serve in various executive positions with distinction. One of his most successful undertakings has been continuing the work of his father, renowned Texas "wildcatter" Sam Krasner, at K-Sam Oil Company LLC.
Mr. Krasner's tenure at K-Sam Oil Company LLC has been focused on the expansion of operations in the Barnett Shale. This formation is estimated to contain approximately 27 to 30 trillion cubic feet of gas. The amalgam of all of this experience is valuable for DKGR and its shareholders as it moves forward with the creation of its gas and oil subsidiary launch.
http://findarticles.com/p/articles/mi_pwwi/is_200708/ai_n19427758
Drake Gold Resources, Inc. Executive Summary of Its Business Expansion Plan
8/3/07
Drake Gold Resources (PINKSHEETS: DKGR) is pleased to announce that it has addressed the first stages of its business plan and its coming expansion within a comprehensive executive summary. The primary focus of the executive summary is to ensure the company's acquisition schedule adheres to a stringent risk/reward analytical formula. "More projects with more bulk sampling means that we move into production with a clearer picture of what the benefits will be for the company and for the shareholders. It's about discipline," according to company President John Marconette.
We have a slate of projects in the pipeline that have met or are in process of meeting the formulation criteria contained in the executive summary. The projects will be announced as it becomes competitively viable to do so. Additionally, delays with the Jackpot Placer Project are currently being evaluated to determine the project's compliance to the criteria as part of the company's comprehensive approach to project oversight.
Executive Summary
Drake Gold Resources' focus is the development of a portfolio of precious and industrial metal mining projects for the benefit of its shareholders. Company executives are continually acquiring rights and leases to a multitude of projects.
Drake Gold Resources' business is based on two simple facts,
1. Precious and Industrial metals become more scarce with each
passing year making their recovery increasingly lucrative.
2. Formerly productive areas provide renewed profitability that
are risk-managed opportunities for emerging mining companies.
Current projects have remained in focus as well. The company will use a specific set of formulation criteria in order to evaluate testing samples with an eye towards moving forward with bulk sampling. For those projects that meet this criteria the necessary steps will be followed resulting in eventual full-scale production. Those that fail to fulfill these predetermined specifications must be reevaluated with an eye towards dropping them altogether.
DKGR Formulation Criteria
1. Identify specific projects showing merit. (Includes release
information to the public)
2. Begin initial exploration by performing grab samples and
in-depth onsite investigation. (provide assays for public view)
3. Consider feasibility as it relates to whether a bulk-sampling
program is warranted.
4. Bulk sampling would then be performed giving the company the
best preliminary information for scaling up to production.
5. Then the decision is made for the project to move into
production. At this point we will also decide whether to find
joint venture capital partners or to form a subsidiary that will
then be subject to an initial public offering and finally
distributed to DKGR shareholders in the form of a stock dividend.
Not performing each of these steps can too often lead to projects that under perform or fail to perform at all. Taking care to complete each step in the formulation is the first aspect of an exhaustive risk management program that results in the highest return for the company and its shareholders. Once the steps have been completed the risk management program will then require that an assessment of whether arrangements should be made to place the new project within a subsidiary or JV partnership, as described in step five of the DKGR Formulation Criteria.
Addressing this program of risk management in regard to the company's substantial project acquisition and expansion plan was the motivation for the formation of the company's newly augmented management team. A list of appropriate strategies will be considered including partnering with outside capital, whether they be through the aforementioned joint ventures or through a DKGR subsidiary. This will effectively expand the capacity of the organization while also limiting downside exposure.
Drake Gold Resources will also package certain projects, which do not fit with the company's core business, within their own corporate structure. Funds raised through (both complimentary as well as non-core business) subsidiary IPO's can be used to facilitate bringing these and other projects to fruition. This will essentially limit risk and provide capital for further project development, all of which will increase value for DKGR shareholders
http://findarticles.com/p/articles/mi_pwwi/is_200708/ai_n19428986
Drake Gold Resources, Inc. Accounting Progress Report
8/8/07
Drake Gold Resources (PINKSHEETS: DKGR) is pleased to announce that the company's new CFO, Thomas Conar, is spearheading the company's accounting process as we move toward full disclosure. While the process is challenging, it is designed to facilitate transparency between Drake Gold Resources, Inc. and the investment community. "The company's intention is to become a fully disclosing company, releasing our audited books as detailed in our timetable," according to company president John Marconette.
This accounting update is part of an ongoing program to build corporate transparency. We are continuing our efforts as described in previous news with the help of new CFO Thomas Conar. He is currently reviewing all information as it relates to the corporate books and accounting to ensure accuracy. This is part of an ongoing program of financial discipline that was initiated with the introduction of the company's executive summary. The accounting review process is not limited to fully audited books and reporting; it includes preparation for eventual OTCBB listing, according to NASD guidelines. The steps of the CFO review include:
-- First, all accounting and corporate books are being reviewed for
accuracy as a preliminary step to becoming fully reporting; this will then
lead to an eventual audit.
-- We then use the properly structured information to bring the company
into accordance with the Pinksheets, LLC new rating system. This restores
Drake Gold Resources' quote and status as an unaudited Pinksheet current
information providing company.
-- After the previous step has been reached, Drake Gold Resources can
move to bring its filing status to exceed those described at
www.pinksheets.com . We will then submit the company to their more stringent
PrimeQX listing criteria. You can read through these steps on the OTCQX
Website ( http://www.otcqx.com/otcqx/listingRequirements#prime ).
-- Once the PrimeQX listing has been obtained we will, with the help of
our CFO, Thomas Conar, move toward becoming a fully audited company via a
PCAOB registered SEC auditing firm.
-- Having reached these goals, Drake Gold Resources will be poised to
list as an OTCBB company. OTCBB Requirements
( http://finra.complinet.com/finra/display/display.html?rbid=1189&element_id
=1159000863 ).
http://findarticles.com/p/articles/mi_pwwi/is_200708/ai_n19427854
Drake Gold Resources, Inc. Executive Summary of Its Business Expansion Plan
8/10/07
Drake Gold Resources (PINKSHEETS: DKGR) is pleased to announce that it has addressed the first stages of its business plan and its coming expansion within a comprehensive executive summary. The primary focus of the executive summary is to ensure the company's acquisition schedule adheres to a stringent risk/reward analytical formula. "More projects with more bulk sampling means that we move into production with a clearer picture of what the benefits will be for the company and for the shareholders. It's about discipline," according to company President John Marconette.
We have a slate of projects in the pipeline that have met or are in process of meeting the formulation criteria contained in the executive summary. The projects will be announced as it becomes competitively viable to do so. Additionally, delays with the Jackpot Placer Project are currently being evaluated to determine the project's compliance to the criteria as part of the company's comprehensive approach to project oversight.
Executive Summary
Drake Gold Resources' focus is the development of a portfolio of precious and industrial metal mining projects for the benefit of its shareholders. Company executives are continually acquiring rights and leases to a multitude of projects.
Drake Gold Resources' business is based on two simple facts,
1. Precious and Industrial metals become more scarce with each
passing year making their recovery increasingly lucrative.
2. Formerly productive areas provide renewed profitability that
are risk-managed opportunities for emerging mining companies.
Current projects have remained in focus as well. The company will use a specific set of formulation criteria in order to evaluate testing samples with an eye towards moving forward with bulk sampling. For those projects that meet this criteria the necessary steps will be followed resulting in eventual full-scale production. Those that fail to fulfill these predetermined specifications must be reevaluated with an eye towards dropping them altogether.
DKGR Formulation Criteria
1. Identify specific projects showing merit. (Includes release
information to the public)
2. Begin initial exploration by performing grab samples and
in-depth onsite investigation. (provide assays for public view)
3. Consider feasibility as it relates to whether a bulk-sampling
program is warranted.
4. Bulk sampling would then be performed giving the company the
best preliminary information for scaling up to production.
5. Then the decision is made for the project to move into
production. At this point we will also decide whether to find
joint venture capital partners or to form a subsidiary that will
then be subject to an initial public offering and finally
distributed to DKGR shareholders in the form of a stock dividend.
Not performing each of these steps can too often lead to projects that under perform or fail to perform at all. Taking care to complete each step in the formulation is the first aspect of an exhaustive risk management program that results in the highest return for the company and its shareholders. Once the steps have been completed the risk management program will then require that an assessment of whether arrangements should be made to place the new project within a subsidiary or JV partnership, as described in step five of the DKGR Formulation Criteria.
Addressing this program of risk management in regard to the company's substantial project acquisition and expansion plan was the motivation for the formation of the company's newly augmented management team. A list of appropriate strategies will be considered including partnering with outside capital, whether they be through the aforementioned joint ventures or through a DKGR subsidiary. This will effectively expand the capacity of the organization while also limiting downside exposure.
Drake Gold Resources will also package certain projects, which do not fit with the company's core business, within their own corporate structure. Funds raised through (both complimentary as well as non-core business) subsidiary IPO's can be used to facilitate bringing these and other projects to fruition. This will essentially limit risk and provide capital for further project development, all of which will increase value for DKGR shareholders.
http://findarticles.com/p/articles/mi_pwwi/is_200708/ai_n19428986
Drake Gold Resources, Inc. Signs Joint Venture With Southern Mining and Exploration
8/10/07
Drake Gold Resources (PINKSHEETS: DKGR) has signed an agreement with the privately held Southern Mining and Exploration (SME) after performing preliminary assays on numerous properties the company controls in GA and the wider Southeastern United States. While DKGR currently cannot release specific information on the location of these properties for competitive reasons, it will as further leases are finalized in the next few weeks. "We believe that the Georgia properties contain some of the most exciting assays we've come across," according to John Marconette. Initial investigative work, which has closely followed DKGR's executive summary, has resulted significant results. The company will release the details of these assays in upcoming press announcements.
To assist in both simple and complex sampling as well as the development of these projects, DKGR management has signed William McLemore PhD, PG, CHG, a veteran Georgia state geologist. Dr. McLemore has more than 40 years experience as a geologist in North America and the Middle East. Throughout his career, Dr. McLemore has been involved in all manner of complex geological and hydrogeological projects. These projects have included but are not limited to industrial metals, precious metals, radioactive minerals as well as on and offshore drilling. After working for Dames & Moore, a well-known innovator in sampling techniques, for the better part of a decade assessing nuclear and coal fired power plants, he moved into the public sector.
Dr. McLemore then worked as State Geologist of Georgia on their Geologic Survey for more than two and a half decades. This work involved a comprehensive assessment of the state's geologic resources. William H. McLemore holds a PhD. in geology from the University of Georgia. Dr. McLemore has written or directed over 500 professional reports, given over 50 professional talks and over 200 speeches influencing a generation of geology professionals.
With the insight brought to DKGR by Dr. McLemore, management believes that these properties preliminary assays mesh with data collected in a region wide geological survey that he was integral in developing. "Based on initial review I believe that a significant amount of precious metals can be produced when these projects come on line," was the opinion of Dr. McLemore. The next step, based on the guidelines of our executive summary, is to move into a program of more rigorous sampling and deeper investigation on the properties held by SME. This will include additional mapping of samples to identify gold trends, both in placer and hard rock deposits. Dr. McLemore is scheduled to meet SME's chief prospector early next week to begin this process.
The history of gold mining in Georgia is extensive. Hernando De Soto's voyage was driven to what would become Georgia in the 1540s in search of the highly prized metal. Gold was mined commercially in Georgia from the 1820s through l933 with some non-commercial mines still in operation. Georgia is said to be one of the nation's best states for gold prospecting since its original boom days which began in 1829, famously branding the miners of this time and place 29ers. Originally these gold strikes had been discovered in North Georgia on Cherokee land.
http://findarticles.com/p/articles/mi_pwwi/is_200708/ai_n19465396
that guy is wearing the same shirt Clayton wore when he made that video at the K1 well in Kosciusko!
The picture labeled "location of the Titan lease" shows the guy pointing at nuttin but A wellless rollin hill! Mabe they can run some goats on the land to make money.
This Field has been poked many times in the past many different oil Companies over the years and has nuttin!
That is why Titan has this very cheap lease!
for how many years now?
Has anyone called Tejones to find out what they plan on doing with the Bastrop Well?