subject: Stock Update On Fnfg, Nal,ssri, And Sila From Pennytobuck.com [print this page] Gold American Mining Corporation (SILA.OB) is a precious metals exploration company focused on the aggressive, reports additional positive results from its Guadalupe property, located in the heart of the Fresnillo (Proao) district, Zacatecas, Mexico.
The fieldwork from SILA continues to identify additional veins within the property. To date nine veins have been mapped within the Guadalupe property. In certain locations the width of sampling was limited by the size of the workings and as such the true width of mineralization remains unknown.
Several previously unknown historic shafts were also identified within the property. It is apparent to SILA that these shafts were sunk along strike from other workings as there are often no outcrops in the vicinity of the shafts. In these situations the mineralized dumps near those workings were sampled.
The Guadalupe property contains two historically significant mines and is located in one of Mexicos oldest mining districts, roughly 5 miles north of the Fresnillo (Proao) Mine, the worlds richest underground silver mine, operated by Fresnillo plc. The silver mine is roughly 6.8 miles to the southwest of Silver Americas Guadalupe Property is the Juanicipio Joint Venture (JV) between MAG Silver Corporation (MAG) and Fresnillo plc, which is known as one of the worlds highest grade undeveloped silver resources.
This Guadalupe property contains greater than 20 known workings as well as two historic mines Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980s.
Gold American Mining Corporation is a publicly traded precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations. For more information SILA and its projects, visit Gold Americans website at www.gold-american.com.
The boards of directors of First Niagara Financial Group, Inc. (Nasdaq:FNFG) and New Haven, Connecticut-based NewAlliance Bancshares, Inc. (NYSE:NAL) announced that the companies entered into a merger agreement, valued on a fixed exchange ratio of 1.10 shares of First Niagara stock for each NewAlliance share. Per yesterday's close, this represents $14.09 per NewAlliance share, or an approximate total transaction value of $1.5 billion, including transaction expenses.
The merger of NewAlliance into First Niagara will be a cash-and-stock transaction creating a top-25 U.S. bank, by assets. The combined bank will have more than $29 billion in assets, including more than $14 billion in loans, as well as $18 billion in deposits. NewAlliance's competitive position, talented team and extensive branch network will serve as the foundation for the Buffalo-based bank's growth in New England, as two of the best regional financial services brands in the country come together at a point when both companies are operating from positions of exceptional strength.
NewAlliance has $8.7 billion in assets, including $4.9 billion in loans, as well as $5.1 billion in deposits. Its 88 branches serve eight counties from Greenwich, Connecticut to Springfield, Massachusetts. Currently, First Niagara serves communities across Upstate New York, Western Pennsylvania including Pittsburgh, and Eastern Pennsylvania from the Philadelphia suburbs to Allentown, Pennsylvania.
Silver Standard Resources Inc. (NASDAQ:SSRI) is pleased to report that diamond drilling at its wholly-owned Brucejack Project continues to encounter bonanza-grade gold and silver mineralization over a relatively broad area. (See the news release dated July 12, 2010, for a summary of the high-grade holes in 2009 and 2010.) The Brucejack Project is adjacent to SSRI's wholly-owned Snowfield Project approximately 65 kilometers north of Stewart, British Columbia.
Galena Hill Zone
Highlights are holes SU-53 and SU-54 from the Galena Hill Zone. The bonanza-grade intercept in SU-53 included:
-- 1.5 meters with uncut grades of 1,025 grams of gold and 751 grams of
silver per tonne (4.9 feet averaging 29.9 ounces gold and 21.9 ounces of
silver per ton).
Bonanza-grade mineralization intersected in hole SU-54 included:
-- 1.59 meters with uncut grades of 2,490 grams of gold and 1,135 grams of
silver per tonne (5.2 feet averaging 72.6 ounces of gold and 33.1 ounces
of silver per ton).
These intersections are located in shallow structures on the northeast corner of the zone. The consistency of the bonanza-grade intersections throughout the Galena Hill Zone highlights the possibility for discovery of additional high-grade mineralization.
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