Jameson Stanford Resources is in control of an exceptional portfolio of mineral interests in Utah via their acquisition of Bolcán Mining late last year, and the company is now poised for some serious production and development work going into 2013. Primary emphasis will be on their flagship Star Mountain/Chopar Mine project, a high-grade copper with strong secondary gold, silver, and base metals deposits just five miles west of Milford, through which the Union Pacific Railroad main line conveniently runs.
Star Mountain is in the heart of Beaver County’s Star Mining district, just off the end of the Star Mountain range. The extant reverse-circulation drilling, in combination with magnetometry and geological analysis done by the company to date, has yielded a very clear portrait of the 3.74k-acre site’s geology (117 lode-mining claims, four metalliferous mineral lease sections). The company believes they have total inferred reserves of potentially over 100M metric tons of copper ore here (with additional precious/base metals), and JMSN will be looking to ramp up copper ore production with great alacrity as 2013 advances, taking copper ore production through profitability and on into to positive cash flow. Jameson is projecting upwards of $2.5M revenue run-rate/month by late May this year from such copper production (already begun) and there are ready, hungry end markets for the product, with a local mill operator and major copper producer offering a stable, closed revenue loop right in the company’s back yard.
The world is hungry for copper and as the third most consumed metal behind iron and aluminum, the stuff is indispensable to a connected planet where electric power and electronics play such a major role in everyone’s lives. Such a large, high-grade domestic copper deposit, sweetened with gold, silver, and base metal secondaries, on its own makes JMSN very attractive as a junior developer amid burgeoning demand from the emerging global markets for electrical infrastructure. Once positive cash flow is attained at Star Mountain and the Chopar Mine site is producing deliverable product at a steady clip, the company intends to validate reserves as per SEC Industry Guide 7 parameters via the commissioning of several key independent engineering reports.
Beyond the sizeable geologic formation identified at Star Mountain, JMSN is looking at their Spor Mountain/Dugway Minerals project over in Juab County, just six miles southwest of the Dugway Military Proving Grounds, near the Nevada border. Here, at this 1.92k-acre site (three metalliferous mineral lease sections), where two prospect pit excavations and preliminary geological analysis have led to a total inferred reserve projection of some 4M ounces of silver, production start-up is on track for early this year. Moreover, it is looking like there are economic concentrations of beryllium on-site and once again we have some solid precious metal secondaries, in addition to the presence of base metals, something which has prompted an aggressive exploration plan for the project.
The third project in the company’s portfolio is a sweetheart of a deal down in West Ogden where after a major storm event in early 2011 flooded out the Weber and South Fork Rivers, the company was commissioned by state and local authorities to dredge and remove silt in the affected area. The company’s Ogden Bay Minerals unit is developing a choice mineral excavation project here and has even become integral to the annual maintenance program for the Weber River area. We are talking 25 square miles of prime federally protected wetlands, canals, and river systems here from which JMSN can extract the abundant mineral wealth found in the large alluvial deposits that are fed by over 125 miles of drainage from the Wasatch Mountain Range.
Ogden Bay looks like it will start-up production around a highly-efficient standard separation model with commercial grade targets in gold, silver, zircon, and other saleable metals/minerals. The company will be subcontracting production here for greater initial efficiency and so that due attention can be paid to the more difficult to execute aspects of the portfolio.
Jameson Stanford Resources has a huge potential input stream on their hands. Mounting production in the form of copper ore with a precious metals component, as well as mineral concentrates and eventually internally refined precious metals (targeting 2 tons/day capacity), forms a strong cash flow basis for the company’s growth strategy. JMSN will be driving hard to initiate and expand production across the acreage footprint as 2013 progresses and will also look to add to their already impressive aggregate inferred reserve position.
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