Price Gold Coins

When I spoke to John Robertson, president of Linux Gold Corp. on the new property announced on October 18 near Fairbanks, Alaska, seemed a very happy person.

"I can not say much about it. The owners have high expectations and the preliminary geology looks very interesting, but there is (NI) 43-101 data compliant yet available. Our consulting geologist (and Qualified Person under NI 43-101 *) took samples from various existing channels, and trials will in a couple of weeks. This is the first information we have is 43-101 compliant. "

So why Alaska and why now?

To First, the Alaska gold resources in all categories (measured, indicated and inferred) have increased from slightly over 1 million ounces in 1985 to over 108 million ounces in late 2004. Of this total, more than 60 million ounces have been put on the books since the price of gold was under strong pressure in 1997. In the last ten years, Alaska has added to its bank gold ounce "at an average rate of 8.6 million ounces per year at a cost of $ 3.36 per ounce discovery.

The Pogo gold mine is currently in production, while four gold projects, Donlin Creek, Rock Creek, Gil and Nixon Fork, permitted or stages of development advanced. Will add value to mineral production in Alaska in the next 5 years.

The reason for the excitement in Linux Gold is obvious. Ester Lode alluvial only since 1902.

All one has to do is review the impressive progress of Freegold Ventures Ltd. 's – Golden Summit property to get a sense of incredible potential. Golden Summit is located within the heart of the area, with over 6.75 million oz of pleasure-mined directly attributable to the streams that drain Summit project area gold. Golden Summit contains over 80 known gold occurrences, and is home to the largest and highest-ranking producer of lode gold historic district, with more than 500,000 ounces of gold was produced in underground mines from 1902 to 1942 at average grades of over 1 g / ton.

Historical average grades of the two largest underground gold mine at the Summit were 1.3 g / ton in the Cleary Hill mine (281,000 oz of total production) and 1.6 g / tonne Hi Yu Mine (110,000 ounces of total production). Many mines were forced to close early in WW2 and never reopened, while others who tried reopen after the war simply could not handle mining once the water table was hit, or even found bad ground (none of which is a serious impediment to modern mining methods today).

Immediately after receiving the test results of the sampling program taken in mid-October, Linux will waste little time in drilling select targets to determine the nature and extent of Ester Creek deposit. and fund managers.

For decades, hunters have been searching for the origin of the gold that has been feeding local creeks, river systems and Placer, where miners have been recovered to date 10M oz. The property owner believes that the property of Esther is connected to that source.

An important advantage of the situation Esther (opposite the Kinross Fort Knox mine a few miles away, for example) is the low cost required to build a mill for grinding high-grade ore economically metro – $ 20 million approximately. The degree of Kinross low per tonne bulk open pit cost approximately 750 million U.S. dollars – approximately 350 ounces of production per day or $ 175,000 to the price of gold today. Linux Gold Corp. (LNXGF) trading under $ 1.00, not a great opportunity.

* The Instrument 43-101 National governs public disclosure of a firm scientific and technical information about their mineral projects

This Article is intended for informational purposes only and is not a recommendation to buy or sell shares of any company mentioned herein. This is based on sources considered reliable but no warranty as to accuracy is expressed or implied. The opinions expressed in this article are the author unless they are given About the Author:

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Article Source: ArticlesBase.com – Linux Gold Corp (otcbb:lnxgf) New Ester Lode Project

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