Sutter Gold Mining Inc (SGM)

[NYBob]

Sutter Gold Mining Inc. (TSX:SGM)' Our 2012 drilling program is off to a strong start,”
said Leanne Baker, president of Sutter Gold.



“Our exploration team is focusing on near-surface extensions
of gold-bearing zone and the underexplored region between
the Comet and Lincoln segments of the gold resource.

Results from the first three holes suggest initial success
on both fronts.”

These three test bores are the first in what will be a program
of 17 bores this year.

The assay results from those bores showed all of the segments
of rock had some gold, but many of them were far below
the estimated average of 0.46 ounces per ton.

In some 55 feet of bore holes, the amount of gold per ton ranged
from 0.009 ounces gold per ton to 0.46 ounces per ton.
Then there was the nearly 2-foot section that had 4.317 ounces
of gold per ton and another 2-foot section with 1.8 ounces of
gold per ton.

The gold in California’s mines didn’t run out.
The economics of gold mining collapsed when the price of gold
was set at $35 per ounce by the government during
the Great Depression.

Then during World War II, the government limited the use of
steel and explosives.
Nearly all California mines closed down.
And as the price of gold has risen steadily for decades,
mining companies have avoided California because it has
more environmental controls than other states.

Sutter Gold Mine is a modern mine,
originally bored to more than a mile in 1989
with a gradual downward slope.

The tunnel — called a decline — is 20 feet high and large
enough to accommodate school buses passing each other.

Mark Anderson covers banking, finance, accounting, technology,
telecom, venture capital, hospitality, tourism and restaurants
for the Sacramento Business Journal.

http://www.suttergoldmining.com/i/pdf/SGM_PDAC_2012_web.pdf

http://www.suttergoldmining.com/s/home.asp

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http://www.bizjournals.com/sacramento/blog/mark-anderson/2012/03/golden-numbers-sutter-mine-yield-estimat.html?page=all

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