Gold American Mining Corp. Begins Drilling at Guadalupe Property
(firmenpresse) -
Gold American Mining Corp. Begins Drilling at Guadalupe Property
RENO, NV—(10/11/10) - Gold American Mining Corp. (OTC.BB:SILA - News) ("Gold American" and/or "the Company") is pleased to announce that drilling operations at its Guadalupe Property (Zacatecas, Mexico) are now underway.
Operations commenced late on Thursday, October 7, 2010. The first drill hole is targeting the down dip extension of the San Antonio vein and is currently at a depth of 230 meters. The planned target depth for the first hole is 500 meters and is expected to reach final depth in two weeks. The first set of assay results of the drilling is expected in 4 to 6 weeks.
As announced in our September 20th news release, the primary goal of this 2,500-meters drill program is to test the down dip extensions of the at least 6 veins that have been identified to date on the property. The secondary goal is to test the strong geophysical targets generated from the recently completed geophysics program that was successful in identifying several significant chargeability and magnetic susceptibility anomalies occurring at depth. Please refer to Projects Section on our website at www.gold-american.com for further information on our drilling program.
"We have begun drilling the first of six planned drill holes and its progress has so far been excellent, with an average drilling rate greater than 60 meters per day," commented Mr. Johannes Petersen, Gold American's CEO. "We are very pleased to see the drilling program commence on time and look forward with anticipation to the assay results which will begin to reveal what the Guadalupe Property contains as a silver-gold resource," added Mr. Petersen.
Drilling is being performed by Tecmin S.A. de C.V. -- a drilling contractor located in the Fresnillo area who has unparalleled experience in the region as they have done a majority of the drilling for Fresnillo, plc and have also worked for Fresnillo, plc and Mag Silver at the Juanacipio Joint Venture, located only 6.8 miles from the Guadalupe Property, where they drilled holes to a depth greater than 900 meters. Samples from the Guadalupe property will be prepared and analyzed by Stewart Labs in their facilities in Zacatecas, Mexico and Kamloops, Canada, respectively.
THE GUADALUPE PROPERTY
The Guadalupe property contains two historically significant mines and is located in one of Mexico's oldest mining districts, roughly 5 miles north of the Fresnillo (Proaño) Mine, the world's richest underground silver mine, operated by Fresnillo plc. Roughly 6.8 miles to the southwest of Silver America's Guadalupe Property is the Juanicipio Joint Venture (JV) between MAG Silver Corp. (MAG) and Fresnillo plc, which is known as one of the world's highest grade undeveloped silver resources.
The Property contains greater than 20 known workings as well as two historic mines -- Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980s. The property is completely surrounded by land controlled by Peñoles (either through Fresnillo or other subsidiaries and partners).
Highlight results from previous results include:
•1.00 g/t Au and 946.9 g/t Ag over 1.1m (including 1.83 g/t Au and 1,800.0 g/t Ag over 0.5 m)
•0.30 g/t Au and 622.0 g/t Ag from a mineralized dump
•0.59 g/t Au and 330.0 g/t Ag over 0.7 m
•5.35 g/t Au and 1,189.0 g/t Ag from a mineralized dump
ABOUT GOLD AMERICAN MINING CORP.
Gold American Mining Corp. is a publicly traded (OTC.BB:SILA - News) precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations. For more information the Company and its projects, visit Gold American's website at www.gold-american.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Johannes Petersen, President
Leseranfragen:
GOLD AMERICAN MINING CORP.
" alt="ALF Group Holdings AG - EGM and Resolution Summary">
" alt="HiTech Stages Ltd. announces Dan London as New Advisory Board Member.">
Datum: 12.10.2010 - 10:07 Uhr
Sprache: Deutsch
News-ID 25739
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 221 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Gold American Mining Corp. Begins Drilling at Guadalupe Property
"
steht unter der journalistisch-redaktionellen Verantwortung von
GOLD AMERICAN MINING CORP. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
