It’s little surprise that the state of Nevada is associated in most people’s minds with the glitz and excitement of Las Vegas, one of the world’s top tourist and entertainment sites, offering more hotel rooms than any single place on earth. But people who know Nevada will tell you that much of the state’s real wealth is, and always has been, deep in the ground.
Historically, Nevada is the most prolific gold producing state in the country, the source of more than 75% of all the gold produced in the U.S. If Nevada was a country, it would be one of the top gold producing nations in the entire world. Considering the current per ounce price of gold, consider this: Nevada has produced at least 5 million ounces of gold every year for the past 20 years, over and above silver, copper, and other minerals. And yet, with its long history of gold production, the U.S. Geological Survey estimates that there remains a huge amount of gold as yet untapped, with historic Nevada gold producing areas such as Carlin, Battle Mountain, and Walker Lane Trends attracting growing interest. Several industry leaders, such as Newmont Mining, Barrick Gold, and Goldcorp, have ongoing projects in the state.
All American Gold Corp. is focused on the state of Nevada, using a proven geological team to develop high-potential sites within close proximity to previous discoveries or actively operating mines, and is currently centered on three projects:
• Goldfield West, northwest of Las Vegas, is an advanced exploration property with defined targets, located 4 miles west of the Goldfield district, which has historic production of over 4 million ounces of gold. A few miles to the northeast is International Minerals’ Goldfield properties, with measured and indicated resources of over 1.1 million ounces. Goldfield West is comprised of 105 unpatented mining claims, covering over 2,000 acres, with easy access to processing facilities, and surface samples exceeding 15 g/t of gold. Holding permission for 21 holes, the company expects the next phase of drilling to commence by the middle of September.
• Belleville, northwest of Goldfield West, in the Walker Lane mineral belt, is comprised of 10 unpatented mining claims on 74 acres, with 24 additional surrounding claims identified for staking in Q3 2011. The Walker Lane area has past production exceeding 35 million ounces of gold. Rock chip samples have revealed gold at 53 parts per million, and 3 potential drilling targets have been identified for exploration in Q4 2011.
• Iowa Canyon, in the center of Nevada, is 30 miles southeast of the 14.1 million ounce Cortez Hills deposit, and 20 miles from Cove-McCoy boasting 2.6 million ounces of gold and 101 million ounces of silver. The property offers a high-quality exploration opportunity, covering approximately 3,200 acres. Surface sampling of jasperoid and silicified phyllite in the southern part of the property shows up to 5.6 g/t of gold.
American Gold’s CEO is Brent Welke, previously CEO of Agnova Corporation, and a seasoned negotiator, with degrees in both law and finance, and experience that includes putting together important land deals for North American Coal Corporation. The company’s CFO is Gasper Gonzalez, PhD, with over 25 years of experience in finance, project management, and business development. Richard Kern, the company’s Technical Advisor, holds an MS in Geology, and has over 35 years of worldwide experience in base and precious metal exploration, including major mineral discoveries, such as a 1.6 million ounce gold deposit in Nevada, and a 9 million ounce gold-equivalent deposit in Australia.
For additional information, visit the company’s website at www.AllAmericanGoldCorp.com
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