Tonogold Is Up +40%!!!: Tngl, Orfg, & Uxg
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Last: $0.07
Change: +$0.02 (+40.00%)
Tonogold Resources, Inc. (Pink Sheets:TNGL.PK) announced the commencement of the fourth drilling program at the Tonopah Divide Gold Project which is located five miles south of the town of Tonopah, Nevada.
Centerra (U.S.), Inc., a subsidiary of Centerra Gold Inc. (TSX:CG), is managing the exploration program as part of its recently formed Mining Venture with Tonogold Resources, Inc.
The drilling program consists of 20 holes for an approximate total of 20,000 feet of reverse circulation drilling. Boart Longyear is the primary drilling contractor.
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ORFG, Orofino Gold Corp., ORFG.PK
Last: $0.16
Gold and Gold Stocks today can be a very good investment, why? Because the Dollar is being devalued as you read this article.
And a mining stock is like owning a leveraged position to the price of gold because the profits for the mining company are heavily dependent on the price of gold, and a small rise in the price of gold can often dramatically increase their profits.
ORFG is a new high growth gold company whose mandate is to acquire, explore and develop to compliant proven reserves major gold targets in historically rich gold bearing jurisdictions of Mexico and Colombia two of the most significant gold producing countries in the world.
This decade Colombia has seen a boom in mining and hydrocarbon exports which went from 25% of total foreign sales in the early 2000s to around 50% today.
According to the director of mines at the Ministry of Mines and Energy, Ercilia Monroy Sanchez, the rise in gold exports is down to strong market prices and renewed confidence among foreign investors following president Uribes democratic security policy, which has used hard-line tactics to deal with rebel and armed groups in the Andean nation.
Currently, Colombia is Latin Americas fifth largest producer of gold.
ORFG has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
At the ORFGs Senderos de Oro project, government recorded Gold production from the area has been significant with production records between 1987 to present of over 1,300,000 ounces. All production has been Artisanal (small miners) in nature and production continues to this day.
With the frequent occurrence of the very high grade gold vein systems in the central area of ORFGs Senderos de Oro project and with several small scale grinding and amalgamation mills in-place ORFG is planning to design a central processing and recovery facility that is modular in design (each additional module added creates 10,000 ounces of annual production) and will be capable of processing enough high grade material to produce up to 120,000 ounces of gold annually while ORFG continues to explore further the Primary Porphyry Target which is the bulk minable gold/copper porphyry systems.
ORFG has reviewed several engineering and design firms with gold production facilities design and operational experience and is currently creating a short list prior to engaging the design team.
ORFG intends to continue the relationships currently enjoyed with all government agencies, the local communities, as well as current production teams and will involve these groups in all major processing and production planning decisions.
More about ORFG at www.orofinogold.com
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Last: $4.63
Recent News: 3 Stocks Shaking the Market
US GOLD CORPORATION (AMEX:UXG) is pleased to announce results from eighteen new core holes (Fig. 1, Table 1) at the El Gallo Project in Sinaloa State, Mexico. The three best results since May 18, 2010 are: 4.6 ounces of silver per ton (opt) over 125.0 feet (ft) (158.1 grams per tonne (gpt) over 38.1 meters (m), 8.3 opt silver over 60.7 ft (285.7 gpt over 18.5 m) and 3.0 opt silver over 91.5 ft (104.1 gpt over 27.9 m). In addition, El Gallos initial resource estimate is scheduled to be released in approximately four weeks.
US Golds drill program is one of the largest currently underway in Mexico and the company is anticipating a number of exciting developments over the coming months. First, an additional twenty core holes from El Gallo will be released in approximately two weeks. Second, El Gallos initial resource estimate will be published in four weeks. Third, additional drill results from regional exploration will be announced mid July. Work is also well underway on El Gallos Preliminary Economic Assessment (scoping study), which will be released by year-end. This is a very exciting time for US Golds shareholders.
Visit: http://www.usgold.com
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by: Blayne Sheffield
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