Gold American Mining Corp. (OTC.BB:SILA) is pleased to provide additional positive results from its Guadalupe property, located in the heart of the Fresnillo district, Zacatecas, Mexico.
Fieldwork continues to identify additional veins within the property — as such several veins remain without names. To date nine veins have been mapped within the Guadalupe property. In certain locations the width of sampling was limited by the size of the workings and as such the true width of mineralization remains unknown.
Several previously unknown historic shafts were also identified within the property. It is apparent that these shafts were sunk along strike from other workings as there are often no outcrops in the vicinity of the shafts. In these situations the mineralized dumps near those workings were sampled.
“The fast pace of exploration achieved on the property since we started operations in late April has expanded considerably our knowledge of the property and reaffirmed our intentions to drill its main objectives,” said Johannes Petersen, President of Gold American. “We are very excited with our findings to date. As soon as we receive the final report and maps of the recently completed geophysics campaign we will be able to finalize the design of the drilling program and initiate the permitting process with a view at commencing drilling before the end of the year,” added Mr. Petersen.
Eldorado Gold Corporation (NYSE:EGO), is pleased to provide an update on the mineral resources and reserves for the Kisladag Mine, in Turkey. The update is based on the drilling performed to date during 2010. An additional 9,000-meter diamond drilling program has been approved which will target the still-open western extent of mineralization as well as inferred resources lying below the current US$950 pit bottom. The results from this additional program will be included in the 2010 year end mineral resource and reserve estimate.
Measured and indicated gold resources have increased by 0.85 million ounces to 11.12 million ounces and inferred resources have increased by 0.82 million ounces to 3.77 million ounces for a total resource increase of 1.67 million ounces of gold.
Eldorado is a gold producing, exploration and development company actively growing businesses in Brazil, China, Greece, Turkey and surrounding regions. Eldorado remains one of the lowest cost pure gold producers. With Eldorado’s international expertise in mining, finance and project development, together with highly skilled and dedicated staff, Eldorado is well positioned to grow in value as they create and pursue new opportunities.
Barrick Gold Corporation (NYSE:ABX) was founded by Peter Munk in 1983 and is headquartered in Toronto, Canada. The Company has grown to be the pre-eminent gold mining company in the world.
Barrick Gold Corporation is the gold industry leader, with interests in 25 operating mines and a pipeline of projects located across five continents, in addition to large land positions on some of the most prolific mineral districts. Barrick offers investors exceptional leverage to higher gold prices with the industry�s largest production of 7.42 million ounces in 2009 and its largest reserves of 139.8 million ounces, in addition to 6.1 billion pounds of copper reserves and 1.06 billion ounces of contained silver within gold reserves as at December 31, 2009.
Barrick generated $2.9 billion in adjusted operating cash flow2 in 2009. As at December 31, 2009, the Company had $2.6 billion in cash and a $1.5 billion undrawn line of credit.
Barrick�s high level of commitment to sustainable economic development, environmental stewardship and a culture of safety was recognized by Dow Jones Sustainability Index � World, which added Barrick for the second consecutive year in 2009. Barrick also maintained its listing on the Dow Jones Sustainability Index � North America for the third year in a row.
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