All American Gold Corp., a gold property acquisition and exploration company, is focused on the state of Nevada, the primary gold state in the country, responsible for more than 75% of all the gold produced in the U.S. The company’s lead geological advisor, Richard Kern, has had exceptional success in identifying gold-rich properties in Nevada, including a 1.6 million ounce gold-equivalent deposit at Eureka.
All American and their geological team have developed an experience-based strategy of identifying properties based on their specific proximity to historically successful producing mines, together with their favorable geology in relation to these neighboring exploration projects. Using this “Comparable Peer” approach, they’ve acquired interests in three Nevada properties:
• Goldfield West (Esmeralda County, north of Las Vegas), where All American holds a 35% interest, plus rights to acquire a further 10% interest.
Goldfield is the initial exploration focus for the company, due to the promising mineralization which could generate a significant gold resource similar to adjacent finds by major miners currently in the district. International Minerals projects in the area hold estimated overall resources of 1,247,000 ounces of Measured and Indicated resources, contained in 31.3 million tons (“Mt”) at an average grade of 1.2 g/t gold; and 385,000 ounces of inferred resources, contained in 7.7 Mt at an average grade of 1.6 g/t gold. The Goldfield Bonanza Project, by ICN Resource, also shows high-grade mineralization.
• Belleville (Mineral County, central Nevada), where All American holds a 70% interest.
Peer success in this area includes both gold and silver discoveries, including the MinQuest discovery, based upon exploration beginning in 2008, of gold bearing shears and veins. Tingley reports a remaining inferred resource at Candelaria Silver of 27 million tons averaging 50 grams per ton silver, and 0.19 grams per ton gold. The historic Marietta Mine of Azteca Gold Corp. is reported to have a series of epithermal veins and shears averaging up to 1.9 ounces per ton of gold.
• Iowa Canyon (Lander County, northern Nevada), where All American holds a 15% interest, plus rights to acquire a further 25% interest.
The Cortez Hills deposit, just 30 miles to the southeast of the Iowa Canyon property, is where Barrick Gold recently intersected 0.894 ounces per ton gold over 67.2 feet, with previously inferred resources of 3.5 million ounces of gold from 28,756,602 tons grading 0.123 ounces per ton gold.
For additional information, visit the company’s website at www.AllAmericanGoldCorp.com
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