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Little Squaw Gold Mining Company (OTCBB: LITS) (December 10, 2007) has received additional drill results from its placer gold project on the Little Squaw Creek drainage located on the Company's wholly owned Chandalar, Alaska, mining property. These additional results confirm the Company's opinion that it has discovered an industrial-scale placer gold deposit of potential commercial significance. The Company now has results for 68 of the 99 drill holes completed. Sixty of these holes have intersected the "Pay Horizon," which refers to the mineralized stratum of gravel from which significant quantities of gold can be recovered. The 60 holes show a Pay Horizon averaging $15.94 per cubic yard (yd3) over a thickness of 84 feet (28 yards) using a gold price of $600 per ounce ($21.25/yd3 @ $800/oz).
Based partially on a February 2002 government study, the Company believes the value of the placer gold gravels at Chandalar falls well within economically extractable limits. According to economic modeling in the report, placer mines having access and geology similar to the Little Squaw Creek deposit, required a recoverable metal value of $4.62/yd3 to yield a 15 percent Discounted Cash-Flow Rate-of-Return (DCFROR). The BLM report states dollar values in loose cubic yards (mined), whereas the Company states the recoverable gold value in bank cubic yards (in ground). If a normal expansion factor is applied to convert bank to loose cubic yards, then an estimated recoverable metal value of about $6.01 would be required to yield a 15 percent DCFROI. The inflation-adjusted amount is $8.27 yd3 in today's dollars (Bureau of Labor Standards Indices -- Producer Price Index Industry Data for Construction, Sand, and Gravel Mining). The size of the Little Squaw Creek deposit and the scale of a potential mining operation there would exceed any of those in the BLM study, and would gain economies of scale not reflected in the BLM study. The Company believes the placer gold deposit at Chandalar has millions of yards of recoverable metal value currently in the range of $16.00 yd3 to $21.00 yd3 that it could profitably mine. An independent economic feasibility study will be done as soon as sufficient drilling and engineering are completed.
All the drill lines are perpendicular to the channel flow and linear direction of the gently sloping gravel deposits. All the sedimentary strata of stream gravels lay on schist bedrock, with the fan portion of the deposit overlain by glacial overburden (mud, sand and cobbles) containing sparse gold values. The entire deposit remains open to expansion by more drilling. Metallogeny, Inc., a private company based in Fairbanks, Alaska, has been responsible for all sample collection at the borehole sites and has had exclusive possession of all drill samples, thereby providing independent sample security from the time of borehole extraction through transport to the Fairbanks laboratory. Substrate borehole samples were collected continuously every five feet and processed via a sophisticated sample-reduction routine that recovers the native gold contained in the drill cuttings. The recovered gold is then weighed on an electronic scale accurate to a tenth of a milligram. Calculations are made to determine the content of gold in each cubic yard of gravel. This process of mechanical gold separation is believed to produce a product representative of gold values that could be recoverable in a mining operation.
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Atlantis Technology Group (OTCBB: ATNO)(December 10, 2007), today outlined a short-term business plan to secure human capital and distribution exclusivity on several components that will further the company's long-term goals of development and distribution of cutting-edge media technology combining high-definition television and streaming internet sources. "We are actively in the process of filling Board vacancies and adding several technical consultants that will aid us in keeping our timeline that focuses on the second quarter of 2008 intact," said GO TV CEO Richard A. Luthmann. "All of this is happening while we are in protracted negotiations with several parties for exclusive development and distribution rights for what GO TV have identified as target components above and beyond our existing portfolio of proprietary technology." Mr. Luthmann further commented that some "significant organizational events" are expected to occur over the next few days, and that important news will be forthcoming. "We are in the process of filling our quiver with several arrows -- in fact what can be termed as an entire arsenal of resources." The GO CEO made further assurances that an aggressive expansion and marketing plan for GO TV is in the works, alluding to the media outlet's awesome market potential.
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Gold Resource Corporation (OTCBB: GORO) (December 10, 2007) is pleased to announce drilling additional high-grade La Arista vein intercepts including 1 meter of 5000 grams/tonne (160.75 oz/tonne) silver within 4 meters of 2955 grams/tonne (95 oz/tonne) silver. The La Arista deposit is part of GRC's El Aguila Project in the southern state of Oaxaca, Mexico. The El Aguila Project is targeting gold production the second half of 2008 subject to timely obtaining required permits, regulatory approvals and equipment delivery schedules.
Gold Resource Corporation's president, William W. Reid, stated, "The La Arista deposit continues to impress us with exceptionally high-grade mineralization whether in some areas higher in gold or other areas higher in silver. We have discovered at least 3 parallel, high-grade La Arista veins. With an intercept in Hole #7087 of a 6 meter width carrying a dollar value equal to 1.03 oz/tonne gold equivalent and an intercept in Hole #7288 of a 4 meter width carrying a dollar value equal to 2.18 oz/tonne gold equivalent and with all the veins open in strike and depth the La Arista deposit has excellent growth potential."
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