Nevada is America’s gold mine. It is responsible for more than 75% of the gold that comes out of the country. The state’s reserves are currently estimated to be approximately 81 million troy ounces, or over $100 billion. One of Nevada’s major historic gold producing regions is the Goldfield District in southern Nevada, near the Columbia Mountains, northwest of Las Vegas. Goldfield West is a key advanced exploration property for All American, not only because it is only 4 miles west of the historic Goldfield District, but because of its proximity to existing successful mining operations.
The Goldfield District, discovered in 1903, became an important mining center during the gold boom in the early 20th century. Many operations were later discontinued due to labor disputes, floods and fires, but rising gold prices is now generating new interest in the region. It’s an area known for significant grade variations over short distances and within a single mineralized ledge, with a production history of over 4 million ounces, from ore grades as high an ounce per tonne (metric ton), in addition to producing 1.5 million ounces of silver.
Another advantage of the Goldfield District region is the availability of a relatively extensive infrastructure, developed over the years in support of previous mining ventures. It has all-year road access, with generally mild weather, unlike many gold mining areas in places like Alaska. It also has access to additional experienced and inexperienced staffing whenever needed, from nearby small towns.
The Goldfield West project is BLM permitted on 21 drill holes, of which two have already been completed. Encouraging results prompted All American to move forward with drilling the next targets, a 6-hole program begun in September.
All American has carefully spread expenditures and associated risks through a joint venture agreement with TAC and their joint venture partner Minquest. Such partnerships can also increase the life expectancy of an exploration company like All American, by allowing it to take part in more projects, increasing the probability of a successful strike.
For additional information, visit the company’s website at www.AllAmericanGoldCorp.com
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