subject: Sila Has An Agreement For The La Escondida Project, Auy Reportes An Increased Dividend- Pennytobuck [print this page] Gold American Mining Corporation (OTC BB:SILA) is pleased to announce it has signed an option agreement to acquire a 100% interest in the high-grade silver-gold La Escondida Project located in Sonora State, Mexico.
The La Escondida property is comprised of two mineral concessions that cover 439.8 acres approximately 124 miles northeast of the city of Hermosillo in Sonora State, Mexico. The surrounding region has seen significant recent activity by foreign mining companies. Nineteen miles to the northeast of the property is NYSE-listed Yamana Gold Inc. (AUY)'s Mercedes project, a development stage gold-silver project expected to start production at a rate of approximately 120,000 gold equivalent ounces per year from 2012. Eighteen miles to the north of Gold American's La Escondida project is the Oroco Resources Corp.'s Cerro Prieto project, which recently reported 383,833 ounces gold and over 6 million ounces of silver reserves.
The high-grade vein-hosted silver and gold target consists of two veins. One vein is exposed over an area at least 800 meters long and is reported to be 3-5 meters wide. The second vein is exposed over an area at least 500 meters long and is reported to be 1-2 meters wide. The disseminated zone is found between these two veins, approximately 100 meters wide. These zones are open both along strike and at depth.
For more information visit : http://finance.yahoo.com/q/h?s=SILA.OB+Headlines or goto www.gold-american.com.
YAMANA GOLD INC. (NYSE:AUY) recently reported that it has further increased its dividend. All dollar amounts are expressed in United States dollars unless otherwise specified.
The Board of Directors has approved an increase in AUY's dividend to an annualized $0.08 per share, or $0.02 per share per quarter. This represents a 100 percent increase over the 2009 annualized dividend of $0.04 per share, or $0.01 per share per quarter and a 33 percent increase over the annualized dividend increase to $0.06 per share, or $0.015 per share per quarter announced last quarter.
The dividend increase will be in effect for the third quarter dividend, payable on Thursday, October 14, 2010, to holders of record at the close of business on Thursday, September 30, 2010. The dividend is an "eligible dividend" for Canadian tax purposes.
For more information visit : http://finance.yahoo.com/q/h?s=AUY+Headlines or goto www.yamana.com.
Allied Nevada Gold Corporation (AMEX:ANV) is pleased to report that the infill drill program has successfully increased gold measured and indicated resources (inclusive of reserves) by 13% to 8.0 million ounces at ANV's wholly owned Hycroft Mine located near Winnemucca, Nevada. Silver measured and indicated resources increased 41% to 259.2 million ounces, compared with 153.1 million ounces as announced in April 2010.
After replacement of production deletion, proven and probable oxide gold reserves remain at 2.4 million ounces while silver oxide reserves increased 21% to 38.9 million ounces (174.0 million tons grading 0.014 opt Au and 0.22 opt Ag) from 32.2 million silver ounces as released in April 2010. Gold grades were consistent with the previously announced resource estimate across all categories while total silver measured and indicated grades improved 25% to average 0.45 opt compared with the previous resource estimate average of 0.36 opt. The strip ratio for the oxide proven and probable reserve decreased to 1.04:1 from 1.14:1.
For more information visit : http://finance.yahoo.com/q/h?s=ANV+Headlines or goto www.alliednevada.com.
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