Sila Has Potential To Be Great Like Gold - Pennytobuck
Gold American Mining Corp (SILA.OB) has recently initiated a comprehensive exploration
program for its Guadalupe property including magnetic and induced polarization surveys. Finding better than expected results Gold American decided to increase the geophsics program to cover more areas of the property.
Gold on August 09, 2010 is $1,200.00 an ounce, as the Dollar devalues, the price of gold is expected to rise, it has been fluctuating lately looking for direction. Gold has been the standard of value for all industrialized nations, in America it is our true dollar. With the inevitable rise in value a company that is in mining today could see their stock go anywhere, in this regard we are watching Gold American Mining Corp.
In 2009, for the first time in three years, worldwide gold production increased almost 7%. Gold price have risen for nine years in a row and are expected to reach $1500 an ounce in the future. The United States is the fourth largest producer of gold and Mexican gold production is estimated to be up 10%.
One company that is taking advantage of the increase in gold prices and gold demand is Gold American Mining Corp. which has obtained options on promising gold and silver mining sites in both the US and Mexico.
The Mexican site is located in the Zacatecas State, Mexico and the US site is located in Clark County, Nevada. Both of these sites look extremely promising and Gold American has secured a commitment of $7.5 million towards developing the sites and received $300,000 thus far. Once Gold American is able to actually start mining, its prospects are golden!
All that glitters is gold with Gold American Mining Corp. The precious metals exploration company focused on the aggressive ongoing acquisition and exploration of holdings with rich gold and silver production potential has announced that the geophysics program at Gold American's Guadalupe property in Mexico was completed on July 20.
Gold American President Johannes Petersen said the results to date were what Gold American expected to find, which was that all the vein systems have the potential to continue to much greater depths. He noted that Gold American is confident that it will be able to start drilling operations very soon.
Gold American is based in Reno, Nevada, and has developed a promising portfolio of international properties in regions marked by sound economies, stable politics, and friendly business relations.
There is no telling where they will go. As Always Do Your OWN Research.
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by: Bill Pennyman
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