Eldorado Gold Corporation - (NYSE:EGO) engages in the exploration, development, mining, extraction, processing, reclamation, and production of primarily gold and iron properties.
EGO provided an update on their 2010 exploration programs recently. They included partial results of drilling programs completed through to the end of May.
Highlights:
-- At the Kisladag minesite in Turkey, further definition of a new zone of
mineralization adjacent to the southeastern boundary of the deposit,
outside of the current pit design,
-- At the Tanjianshan project in China, infill and stepout drilling of the
recently discovered 323 zone, and
-- At the Efemcukuru development project, systematic stepout drilling
defining the Kokarpinar vein over a strike length of 600 meters
Eldorado's 2010 exploration budget of $35.4 million comprises generative, early stage, advanced, and mine site programs, including drilling programs at all of their present mine operations and development projects except for Perama Hill. The company's Turkey exploration budget of $12.4 million includes extensive resource drilling at the Kisladag mine, exploration drilling of new targets at their Efemcukuru development project, and drilling on at least six additional early- to late-stage exploration projects.
see more updates here: http://finance.yahoo.com/
Learn more about EGO here http://www.eldoradogold.com
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U.S. Gold Corporation Common St - (AMEX:UXG) engages in the exploration for, development of, production, and sale of gold, silver, other precious metals, and base metals. Its principal assets include interests in various exploration properties located in the state of Nevada and the properties in Sinaloa State, Mexico. The company was formerly known as U.S. Gold Corporation and changed its name to US Gold Corporation in March 2007. US Gold Corporation was founded in 1979 and is based in Toronto, Canada.
There are various tools investors can use to help determine the future price of gold. One of the primary methods used by US Gold is the Dow Jones versus Gold ratio. This ratio looks at how many ounces of gold it takes to purchase the Dow, assuming every point in the index represents a dollar. This ratio also reflects the market's confidence in paper versus physical assets like gold.
UXG recently announced results from sixteen new core holes (Fig. 1, Table 1) at the El Gallo Project in Sinaloa State, Mexico. These holes will be included in El Gallo's initial resource estimate due in two weeks. The results below demonstrate that El Gallo continues to increase in size and that several zones appear to be merging into a single enlarged zone.
EXPLORATION HIGHLIGHTS
-- Mineralization expanded 100 ft (30 m) down-dip in the east area of the
Main Zone: 11.3 ounces of silver per ton (opt) over 32.3 feet (ft)
(386.7 grams per tonne (gpt) over 9.9 meters (m) and 15.9 opt silver
over 8.4 ft (546.4 gpt over 2.6 m).
-- Near surface mineralization expanded 80 ft (25 m) to the northwest: 3.2
opt silver over 78.2 ft (109.0 gpt over 23.9 m).
-- Drilling intercepts mineralization 130 ft (40 m) west of the previously
known limit, extending the strike length of the Main Zone to 2,200 ft
(670 m): 6.4 opt silver over 24.3 ft (219.6 gpt over 7.4 m).
-- Another important intercept encountered between the Main and North
Zones, significantly reducing the distance between the two areas: 2.6
opt silver over 81.2 ft (88.9 gpt over 24.8 m), including 4.9 opt silver
over 37.4 ft (167.8 gpt over 11.4 m).
-- Drilling to connect the Main and Southwest Zone returns: 3.7 opt silver
over 45.9 ft (128.1 gpt over 14.0 m) starting from surface.
Learn more at www.usgold.com
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Orofino Gold Corp. - (OTC:ORFG) has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
Orofino Gold has categorized the Senderos de Oro properties as good high priority, high return opportunities. These properties are in areas of known gold reserves, and have current small scale production of Gold. Recent samples returned values as high as 250 grams Gold with high copper values exceeding 10%. Geological trending indicates continuation at depth.
With the frequent occurrence of the very high grade gold vein systems in the central area of its Senderos de Oro project and with several small scale grinding and amalgamation mills in-place Orofino is planning to design a central processing and recovery facility that is modular in design (each additional module added creates 10,000 ounces of annual production) and will be capable of processing enough high grade material to produce up to 120,000 ounces of gold annually while the Company continues to explore further the Primary Porphyry Target which is the bulk minable gold/copper porphyry systems.
Miners must use very rudimentary hand equipment to recover gold in this region that has been producing more han 300,000 ounces of gold for the past 19 years (shown below).
Orofino Gold’s strategic focus is on the Senderos de Oro project:
* aggressive exploration program at Senderos de Oro in the Sur de Bolivar mining District Colombia.
* partnership with artisanal miners
* environmental improvements
* resource definition
* drill program first quarter 2010
Gold offers a safe way to hedge against these falling currencies. It is reasonably believed that the five plus high grade producing gold targets will produce 1+ million ounces each and with silver and copper credits the formulae above would be conservative.
The opportunity looks like this... Orofino Gold Corp. with 1 million ounces; the share price would be with (80,000,000 shrs out) 1 million ounce at a conservative $1,000 = $1 billion divided by 80 million shares = $12.50/share (Orofino has only 60,000,000 shrs. outstanding now)
The company has reviewed several engineering and design firms with gold production facilities design and operational experience and is currently creating a short list prior to engaging the design team. Orofino intends to continue the relationships currently enjoyed with all government agencies, the local communities, as well as current production teams and will involve these groups in all major processing and production planning
Find out more at www.orofinogold.com
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