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Behr Dolbear Feasibility Report (NI 43-101)
This report was prepared on the Emerald Isle mine, today SIRG's Chloride Copper Mine.
For those of you who have never seen an NI 43-101 and to see what is involved in creating one, this 100+ page report should prove to be an interesting read. I can only provide a link as it is too big to post on a message board.
It will reveal why it costs $50,000 to over $100,000 to produce one, starting with the fact that it must be done by a Q.P. (Qualified Person).
SIRG is fortunate to have such a person serving on their BOD.
Michael Rowland, Member #225364 of the Australasian Institute of Mining and Metallurgy (Ausimm) and Qualified Person (Q.P.) for the form 43-101F1; Private consultant in mining geology including photo geology, geotechny, and hydrogeology. He served as Project Manager in the Dynasty gold field, exploring and drilling for gold, silver and copper. Prior to 2004, he worked for companies such as COGEMA from France, RUMICURI from Ecuador, ECUASAXON and Minera Australiana from Canada and Australia, Vicente Coronel Compania from Ecuador, Petro-Canada, Fougerolle from France, Coyne et Bellier from France, and the Department of Commerce of France.
He received a Geologist Engineer degree in 1973 from Escuela Politécnica Nacional, Quito, Ecuador, a Master degree in Geology from Dijon University, France, in 1961,and a Bachelor degree in Geology from Paris University in 1960.
TECHNICHAL REVIEW, EVALUATION OF ALTERNATIVES AND PROPOSAL FOR ADDITIONAL WORK
(BEHRE DOLBEAR PROJECT 06-072)
December 15, 2006
Prepared By:
BEHRE DOLBEAR & COMPANY (USA), INC.
999 EIGHTEENTH STREET, SUITE 1500
DENVER, COLORADO 80202
(303) 620-0020
Behre Dolbear - founded 1911 MINERALS INDUSTRY CONSULTANTS
Behre Dolbear is the preeminent international minerals industry consultancy responding to the needs of its clients by providing superior and comprehensive business, management, technical, and environmental advisory and consulting services while adhering to the highest ethical and professional standards.
http://www.sec.gov/Archives/edgar/data/1076966/000147793210000330/sirg_ex102.htm
Mr. Michael M. Chaffee served as the Chief Operating Officer at Enviroxtract, Inc. EVXA since February 4, 2011 and oversaw its business expansion into the precious metals mining and processing industry.
I don't think admitting any connection to EVXA is good on a rsume and overseeing the expansion of EVXA? That POS claims a license for a magic machine that has never produced one penny of revenue. You can buy this POS at .0001 but it rarely trades. Many days of NO BID! This company plays musical CEOs!
Mr. Chaffee served as the Chairman of Summa Metals Corp. NV since March 8, 1994 and Chief Executive Officer and President since January 1989 to April 1, 1994. Mr. Chaffee serves as the President and Chief Executive Officer of Global Decs Corp.
http://investing.businessweek.com/research/stocks/people/person.asp?personId=8130316&ticker=WSRA
SIRG did trade over $1.00 but a 6/1 FORWARD STOCK SPLIT dropped the price, but you knew that didn't you!
Corporate Actions
Ex. Date Record Date Pay Date
Dividend Jun 28, 2010 Jun 25, 2010 Jun 25, 2010
Security Notes
Capital Change=shs increased by 6 for 1 split; Due Bill Redeemable Date: 06/30/2010. Ex-date=06/28/2010. Rec date=06/25/2010. Pay date=06/25/2010.
Here is some more information on the Chloride Copper Mine, previously known as the Emerald Isle, 80% owned by SIRG.
The pit as it looked in 2005.
This is what a core drilling rig looks like.
Here everyone can see what a Professional Engineer's Stamp looks like. Note it includes his AZ P.E. License #4144!
Think about this. The SIRG APP will not be approved without the Reclamation bond attached. So when that APP is approved the funding details will be revealed.
Anyone who thinks Rod would hire CDMSmith to handle the permit transfer process without funding secured is not thinking real clear! We all know our CEO is smarter than that!
And most of those pinks are fully reporting Canadian companies like OMCMF for example.
No comparison to WSRA who has been a pinkie for over 10 yrs and still there.
Please don't confuse SIRG's Chloride COPPER Mine with a gold mine.
There are so many "desert dirt" scam gold mines in Arizona I won't even delve into "gold" here.
SIRG's copper mine is better than a gold mine especially since they don't have to "look" for gold, the copper is right there in the pit, clearly visible.
I have never heard of a "closed" cc but then Dale has his own way of doing things.
Still should be someone who was allowed to call in and can report.
WOW, I see Chaffee gets $120,000 a year for running a company that can't get off the pinks in over 10 years!
But he transfers WSRA property to himself. Did he pay WSRA for the GOLD CROWN LEASE? If so - how much? Or did he just take it?
Go for it, someone hit the ask!
Yes GDSM and WSRA laid out a time frame with 4 phases. Appears they never got finished with Phase 1 as there are still no bucket test results and it is nearing the end of August.
Phase 2 is about to begin (April 24th )and will be complete in late summer (August / September?) of this year. This phase is small scale gold production.
NI 43-101 completion is to begin shortly. What is meant by "shortly" - that was April - this is August - is 4 months "shortly"?
Phase 3 to begin in late summer of this year. This is the beginning of full scale production.
You call that moving along fine? They are a week late in filing their financial disclosure statement - you call that fine?
But then I guess one cannot expect a great deal of movement from a pinkie with CEOs who can't get things done!
GDSM is nothing but a hat and no cowboy.
Was anyone able to dial into the CC? Can they post what was said?
Yes they should but it makes good fodder for a complaint to the SEC showing all they PRd and failed to follow through on.
Jan. 19, 2012 /PRNewswire/ -- Gold Coast Mining Corp. (Pink Sheets: GDSM), is pleased to announce today that the Company has agreed to pursue a joint venture with Western Sierra Mining ("WSRA") on the Gold Star Mine. The Gold Star Mine, currently owned by WSRA, consists of up to 5 unpatented claims on over 300 acres near Prescott, Arizona.
The claims show Ore Reserves of 6.75 million cubic yards of ore. The average ore tenor is 0.025 oz/yd. or 168,750 total ounces of gold.
An unusual and significant attribute of the Gold Star property is that the mineralized black sands, unlike most, appear to contain substantial gold values. Limited testing has shown these values to be fairly uniform across the claims.
According to the Jenkins Technical Summary: "If the hi-bar deposits contain (mineralized black sand) gold values throughout, the potential may be staggering, and could far outweigh the free gold placer material."
Gold Coast Mining and Western Sierra Mining have executed a Memorandum of Understanding ("MOU") in which the parties have agreed to finalize the terms and execute the final joint venture agreement within the next 10 days. In the meantime, the companies are working together to secure the necessary funding, as part of the final joint venture, to move the Gold Star Mine to the production phase.
Why do you think they couldn't find any of those 168,750 total ounces of gold that the Jenkins report claims are there?
But Marc already touted it and later reported that he was interviewing registered accounting firms to start the filings.
Ahhh maybe that is why they are so late - THEY ARE FILING A 10Q, the 2nd step in the process to uplift!
But there is a problem there with that theory - they have to make a formal SEC filing of their desire to be accepted on the OTC. Then they have to file an audited 10Q for 2 quarters so if they started RIGHT now they might get to OCT in a year! LOL!
Nice pump below but in my opinion, pure BS.
Yes GDSM has a very sad track record when it comes to filing their statements, in fact they failed to file for a couple of years!
When they try to uplist - if that fluff ever becomes fact, the SEC will look at their filing record and give them a couple of bad check marks.
If they can't handle simple pink sheet disclosures on time how is GDSM ever going to deal with the strict and complicated OTC forms and filings?
Why would it take a week - 40 hrs or more to do a new disclosure? Who is doing the new statement and how are they paying that person plus the pink sheet filing fees? They already have racked up over $67K of Accounts Payable!
Maybe GDSM will reveal how many of those .10 warrants they sold to get the $100K they need to continue the Gold Star on Oct 20th. Clock is ticking and they have no revenues, not in how many years? Certainly no revenues since 2009 some three years ago.
Good point. Given GDSM's history of touting so many things like the NI 43-101 and the uplisting why are they not publishing the test results that were revealed to them after the first 2 weeks in July?
Highly probable that Chaffee looked at the test results from the first 25 buckets and said likely said "not worth digging up another 25 buckets", let's go find another mine to dangle in front of the shareholders because we can't hold on to them with this gravel pit!
The only possible conclusion is that they found no gold or not enough to develop a profitable mining operation. Good news/results get shouted out - bad news gets buried or at least they hope to bury the Gold Crown.
Every one needs to remember that those gold estimates were provided by none other than Don Jenkins who is under investigation in Arizona. Guess they could not find all that gold that Jenkins claimed was there!
Great point Chris. Given the experience and expertise of the men serving on SIRG's BOD they deserve compensation for their time, advice and assistance in building SIRG into a great company.
From men with expert mining experience to a lawyer, a CPA, and men who have started and established highly successful businesses on their own, these men know what it takes to build a successful company. SIRG has all bases covered and will hit the HOME RUN in 2013.
Jumped on it? Is there a rush? The Whartons have been sitting on the Azurite for SIX years and now all of a sudden they are going to be producing nuggets and pouring dore bars in 90 days!
I am glad I will have some time this weekend to investigate all the events surrounding the Whartons and their connections to Don Jenkins who is under investigation in Arizona, and WSRA, controlled by a man who transferred WSRA company property to himself.
The "three" ring circus has just been expanded to a four ring circus.
And GDSM's credibility continues to decline every day with no test results from the GOLD CROWN test buckets and no Financial Disclosure Statement. And how credible are all those reports that Jenkins and Stoddard wrote and signed illegally?
Car trouble off the Mt. Tritle trail, on the way to the Davis Dunkirk Mine.
This is the ATV trail that someone claimed "all they have to do is run a blade over". Clearly it will require vegetation removal, bulldozing and who knows what else. OH let's not forget at USFS permit to disturb any dirt on that trail.
Now the duties of Travis and the maintenance man currently employed at SIRG's mine are being questioned and proof that they are not sitting around all day playing gin or Old Maid is being demanded.
I suggest those with doubts remaining take a trip to the mine. Travis welcomes visitors when he is not deeply involved in one project so please call ahead to make sure it is convenient to show you around.
I have Travis's cell phone number but will not post it on a message board. If you need to make arrangements, let me know.
You might be interested in the core sample room where all the cores from test drillings are stored and can be examined or re-assayed if the need arose.
Now what exactly do you think that maintenance man is doing there? Don't maintenance men repair and restore equipment?
While you're at it, don't forget to ask where GDSM's Financial Disclosure Statement is. Long over due!
Won't they get the Caveat Emptor if they don't file today or will they get halted?
Marc is probably not reading the board today but heading out for a long weekend.
Sorry I fail to get the spin on this! Emas has never signed any documents, served as an officer nor was a member of SIRG's BOD.
Emas is a fully licensed practicing attorney in Florida.
Joseph I. Emas, of Surfside, Florida, made the mistake of signing on as outside securities counsel for World Health from May 2003 through August 2005. He went down because the CEO of this scam pinkie was a fraud who manipulated World Health's accounting entries along with the CPA and the accountant. Four people were charged in this pinkie scam.
Those charges alleged that for a small public company called World Health Alternatives, Emas drafted and filed SEC documents containing "false statements concerning the registration of millions of shares of World Health stock" and then profited from selling some of his own shares.
I investigated another identical case where the stinky pinkie fraud issued 8M shares to its attorney for services. That stock was pumped up to .72 making Darell Whitney a very wealthy man and of course he sold shares for a profit. Sadly this is the same lawyer that was involved with the spongetech company. But fate caught up with him and he died and the stock received an SEC suspension.
http://ih.advfn.com/p.php?pid=nmona&article=53760076
And again there is NO CONNECTION TO SIRG despite the spin! How many times do you think its necessary to holler FRAUD when in fact there is no FRAUD connected to SIRG.
Did Emas go to prison? NO, he paid a fine and was suspended for 2 years. Does not sound all that serious to me. He made the mistake of being the attorney for a stinky scam pinkie. Dam pink stocks cause so many people so much trouble!
Emas was not disbarred nor was his license revoked. Today he continues to practice law in Florida.
So is that the best that can be dug up to insinuate that there is something sinister going on between Rod and an attorney?
Still waiting for the dirt on SIRG's men on the BOD. What's the holdup?
Of course SIRG has not mined any ore yet! SIRG is a start-up company but it owns 80% of the Chloride Copper mine with proven reserves as evidenced by testing by 3 independent companies not some local pretend geologist like other companies. Copper cathodes were produced at the mine in 1996 until the price of copper dropped to $1 and the mine was closed. SIRG has no mortage or lease payments or the mine property!
SIRG is still in the permitting process and finally received BLM approval of their MPO.
Did you know that operating a mine without the required permits could get a company fined and shut down? Both SIRG's neighbors, Mercator and Hondo both operated without permits and have been caught.
There are many steps required to opening a previously closed mine and the operations plan and permits are necessary steps. When all the permits are approved, SIRG will be ready to surge into production and will be producing copper cathodes in 2013.
You are totally wrong about share holders dumping as quickly as possible - what is the basis for that wrong opinion?
The recent 10Q was full of positive and excellent news and SIRG is not going to drop like a hot potato because SIRG has not been pumped!
Does this look like smoke and mirrors? Looks very clear and real to me.
Definitely a real mine - hard to deny what is clearly visible on Google Earth!
This is the SX/EW plant that Mr. Stonehouse purchased the components to expand it from 5,000,000 to 8,000,000 lbs per year.
All the components are in storage onsite so it can easily be expanded. Note the building is open on that end and there is plenty of room to extend the building.
That is one huge pit and imagine the size of the tailing piles that were formed through its excavation. Those tailing piles contain 4.5M lbs of easily recoverable copper! At a copper price of $3.40 that is around $15MILLION worth of copper just in the piles! Because those piles have already been mined and milled, it will cost less than $1 to process them into copper cathodes.
The Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could prove additional resources.
Based on the forgoing, it is safe to assume that the current known resources would provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
WRONG AGAIN
WRONG AGAIN - it takes Nevada 5 months to correct things!
Already responded to the fact that Nevada SOS failed to correct SIRG's registration but you probably missed it. This has been posted previously so please read past posts to learn the facts.
Here is ABSOLUTE PROOF that Nevada was notified on 4/24/2012 at 10:55 AM to correct the registration but failed to do so.
WRONG AGAIN
I just finished reading Mr. Chaffee's resume - no wonder WSRA never brought a mine into production! His last job was with Applied Biomedical Sciences, what does that have to do with mining?
Does anyone know what happened to Applied Biomedical? Is there any proof that it even existed? His bio says it was a public company and he was a founding director. Even Google can't find it and it was not registered in Nevada or Delaware.
Same search results for U.S. Pump and Turbine Company Inc. and
Western Regional International as well as being a Senior Vice President in two local Investment Banking firms.
Of course he fails to identify the two local banking firms.
There is not one thing that can be proven on Mr. Chaffee's resume.
His biomedical experience does not qualify him to be a mining expert.
Now why did Chaffee transfer the Gold Crown Lease from the company, WSRA to himself and a year later include it in a JV with GDSM? Is that legal?
GEAR always bounces back, just needs a bigger paid pump. Last Oct they managed to pump it up to .18 on the Silver Cord JV. But each pump has been less successful and Dale makes himself look stupid as he continues to blame short sellers. Months ago it was some disgruntled shareholder that caused the drop. Always an excuse but never admits that GEAR is down because he has failed to follow through on any project he PRd.
EVXA was the first JV to get killed. Next the Silver Cord JV or is that still alive? All WSRA needs is a couple of million dollars to get the project underway.
Where is that 30 billion of underground assets that Dale touted?
Welcome back Prodigy - missed you! Thought we lost you!
Did you read the 10Q and the 2 PRs that SIRG released? You have lots to catch up on.
Lmcat
You are correct but please don't stop there! Get all the facts out in the open and don't spin things to form a negative view!
All of this has been researched, investigated and discussed on the SIRG board - almost a year ago.
FACT: Rod left Branpton Crest almost TWO YEARS before they went BK. Maybe if he had stayed he could have saved the company!
These are all attempts being made to put a negative spin on Rod's career choices. Must be really hard to accept the fact that there are honest men in Florida especially when there are so many scammers down there, some even form fake companies to scam people.
How about the fact that he put Martin Tools out of business? Did you miss that?
Yep Rod took over the Martin Tool Company, a tool manufacturing company founded by his grandfather. He thought he could find a way for them to survive but the Chinese were making tools for 1/2 the cost he could and American consumers preferred cheap to quality so it was a losing battle. But I guess you would claim that as Rod's failure!
Again, Joseph I. Emas made the mistake of being the attorney for one stinky pinky scam company who filed false documents and he failed to verify the facts. Guess he was the registered agent for more companies than he could handle. But that is old news and today he is a practicing lawyer in Florida, his license still in tact!
Totally agree with you Salty, SIRG has never had a gagged TA. I have been able to track the share structure since I started researching SIRG over a year and a half ago.
I simply don't see any reason for a company to gag their TA unless they don't believe in transparency and have something to hide. More and more shareholders are demanding that the CEO un-gag their TA but there are still companies that refuse to allow shareholders to track dilution to their shareholder's holdings. Thankfully most of those companies with a gagged TA are pinks which I don't risk my money on.
Joseph I Emas has NO CONNECTION TO SIRG.
It has already been discussed on the board and previously posted on Aug. 18th it has been shown/proven that he is/was the registered agent for 178 companies and LLCs registered in Florida. He is an attorney and practicing in Florida today.
Emas, age 54, is an attorney licensed to practice law in the States of Florida, New York, and New Jersey. In 1996, he earned an LL.M. in Securities Regulation.
Emas represents 178 issuers who file periodic reports with the Commission in Florida. He is a resident of Florida. He paid his fine and served his suspension and is currently licensed to practice law in Florida.
Emas made the mistake of signing an Attorney Letter for World Health, a pinkie that was a scam as so many pinkie stocks are.
The Commission’s complaint alleged that Emas (1) drafted and filed two post-effective amendments and a supporting legal opinion that he knew or should have known contained false statements concerning the registration of millions of shares of World Health stock; and (2) sold World Health securities when no registration statement was filed or in effect and no exemption from registration applied.
The entire case against Emas was a pinkie fraud/scam.
World Health went public in 2003 and grew quickly during the next year with acquisition of six medical staffing companies. CEO Richard McDonald resigned last August following questions about his educational credentials. His resignation sparked an internal probe of the company's finances.
Word of the investigation caused the value of World Health's stock to plummet from $3.46 per share before his resignation to 49 cents after it was disclosed, according to a class action lawsuit filed by investors in U.S. District Court in Pittsburgh. Some of the allegations contained in the lawsuit came from a former World Health officer, identified only in court papers as a confidential witness.
AGAIN THERE IS NO CONNECTION TO SIRG AND TODAY EMAS IS A PRACTICING ATTORNEY WHO IS THE REGISTERED OFFICER FOR BLACKPOOL.
WHAT'S THE SPIN HERE?
WRONG AGAIN -
Sierra Resource Group awards contract for its Aquifer Protection Permit Transfer and Modification
SIRG announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
"We looked at a host of well qualified companies to handle this very important permit process and feel confident in our selection of CDM Smith," said J. Rod Martin, Chief Executive Officer of Sierra.
CDM Smith will prepare all materials for permit transfer, will prepare the BADCT demonstrations for the new facilities as contemplated by Sierra for future operations, will prepare the Amendment (Modification) Application package and final application for submittal and will fully manage the project to completion including handling all meetings with ADEQ and Sierra.
"CDM Smith is well versed in this type of permitting and its inner team has a wealth of experience in dealing with ADEQ," said J. Rod Martin, Chief Executive Officer of Sierra.
Read more here: http://www.sacbee.com/2012/08/21/4745405/sierra-resource-group-awards-contract.html#storylink=cpy
CDM Smith is an international company with an office in Phoenix at:
4835 East Cactus Road
Suite 360
Phoenix, AZ 85254 USA
+1.602.281.7900
SIRG has an employment contract with Michael Rowland to begin the search for an acquisition or JV the day the Chloride Copper Mine goes into production.
I am sure you are aware of the use of company shares for acquisitions and JVs. Highly probable that SIRG wanted those shares available to use for that purpose.
SIRG shareholders have to be impressed with Mr. Rowland's qualifications!
Michael Rowland, Member #225364 of the Australasian Institute of Mining and Metallurgy (Ausimm) and Qualified Person (Q.P.) for the form 43-101F1; Private consultant in mining geology including photo geology, geotechny, and hydrogeology.
He served as Project Manager in the Dynasty Gold Field, exploring and drilling for gold, silver and copper. Prior to 2004, he worked for companies such as COGEMA from France, RUMICURI from Ecuador, ECUASAXON and Minera Australiana from Canada and Australia, Vicente Coronel Compania from Ecuador,Petro-Canada, Fougerolle from France, Coyne et Bellier from France, and the Department of Commerce of France.
He received a Geologist Engineer degree in 1973 from Escuela Politécnica Nacional, Quito, Ecuador, a Master degree in Geology from Dijon University, France, in 1961, and a Bachelor degree in Geology from Paris University in 1960. His skill and extensive experience in exploration and exploitation phases of mining operations qualify him to locate acquisitions and JVs for SIRG.
SIRG had so much great news in the 10Q which normally are so boring but the removal of the chill and the negotiations to buy the additional 90 acres were great news.
And the LOI is still alive, although I always felt it would be.
Then there was the reduction of debt with Brian Hebb.
And SIRG is current on all debt with nothing due until 2013.
That is an outstanding 10Q and followed by 2 PRs.
When bummer first got elected he visited Arizona 3 times in one year and looks like he finally got the message that he was not welcome anymore.
Closed down Phoenix International when he landed, then again when they took a helicopter trip to the Grand Canyon and again when they returned and again when they finally left. All the extra security is expensive and Arizona didn't need those expenses.
Plus the Grand Canyon was off limits and flight tour operators from Phoenix and Las Vegas lost a day's income.
Plus did you know that a backup AF1 landed in Tucson? People all thought it was the pres but just a backup in case AF1 develops a problem and they might be delayed. I don't think those extra trip expenses are revealed to the taxpayers!
That's a real classy first lady!