All American Gold Corp (AAGC) On Alert Today
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Alll American Gold Corp (AAGC) Trading At .61 is a gold exploration company focused on Nevada, the #1 gold mining state in the country. Nevada accounts for nearly two-thirds of U.S. gold production, so if you are going to look for gold, Nevada will certainly increase your chances for success.
AAGC has 3 projects in Nevada: Goldfield West, Belleville, and Iowa Canyon. We should note that Iowa Canyon is in north central Nevada where 80% of Nevada gold production comes from.
Mining stocks in general are undervalued due to the fact that as a group they have not seen their share prices keep pace with the metals. As metal prices rise, major companies like Barrick and Newmont Mining will have to start acquiring smaller companies that have laid the ground work for success and eventual production. Of course in order to reap the biggest gains in the gold bull market, you will have to consider some exposure to the juniors.
AAGC Current Projects Iowa Canyon * High quality exploration opportunity located approximately 30 miles southeast of the 14.1 million ounce Cortez Hills deposit and 20 miles from Cove-McCoy, which is estimated to have 2.6 million ounces of gold and 101 million ounces of silver.
* Surface sampling of jasperiod and silicified phyllite in the southern portion of the property show results of up to 5.6 g/t gold.
Belleville * 3 potential drilling target areas have been identified for exploration in 2011 * 43-101 compliant technical report has been completed * Located 10 miles from the Candelaria Silver Mine and just 6 miles from the Marietta Mine.
Goldfield West * Advanced exploration property * Surface samples collected from old workings and outcrops have exceeded 15 g/t gold.
* Project permitted for 21 holes with next phase of drilling expected to commence this month (September 2011) All American Gold Corp Announces Drilling Program to Commence on Its Goldfield West Project INDIANAPOLIS–(BUSINESS WIRE)– All American Gold Corp (OTCBB:AAGC.ob – News) is pleased to announce the commencement of the company`s drilling program for its Goldfield West project in Nevada. The property is located 4 miles southwest of International Mineral`s Gemfield deposit and 4.5 miles west of the Goldfield district, which is renowned for its historic production in excess of 4 million ounces of gold at an average grade of > 17 g/t Au. Drilling will target major structures which may host high-grade quartz-sulfide-gold veins similar to those in the main Goldfield district, an area where strong results have recently been announced. A total of 1,550 to 2,000 meters of RC drilling is planned for six drill sites located in both the northern and southern parts of the property.
“Historic work previously conducted at Goldfield West has led to the completion of 138 drill holes in this area. Through examination of the data compiled from previous work programs, in addition to the wealth of information gathered through geological mapping, geochemical sampling and geophysical surveys, our technical team has formulated, what management believes is the best course for our exploration program at Goldfield West.” Brent Welke, CEO At the South target, interpretation of geophysical surveys have identified an 800 meter long nearly north-south structure. One hole, drilled in 2010, identified minor veinlets of quartz/pyrite/alunite and gold values up to 1.45 g/t over 1.5 meters.
Two fences consisting of three angle drill holes spaced roughly 100 feet apart will attempt to penetrate the fault identified by the geophysical surveys.
At the Nevada Eagle target in the northern part of the Goldfield West property, drill holes will focus on an interpreted broad north-south trending structure which appears to host an intrusive dike. Two or three additional angle holes are planned to test the geophysical anomaly.
All of the drill holes will be drilled across interpreted structures, supervised and logged by an independent geologist. Drill samples will be collected on 1.5 meter lengths and shipped to ALS Chemex in Reno, Nevada for analysis of gold and silver content.
Richard Kern, M.S., (P.Geo) of Reno, Nevada, technical advisor to All American Gold Corp, has reviewed the technical information contained in this press release.
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