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Gold Prices – New Record High for Gold

GoldDigger — Sat, 19 Jun 2010 19:54:51 +0000

Gold prices hit a new record high Friday as investors fled into gold as a safe-haven asset.

Gold for August delivery was popping $12.70 to $1,261.40 an ounce at the Comex division of the New York Mercantile Exchange.

The gold price has traded as high as $1,262 and as low as $1,243.10 according to Kitco's gold index.

Fridays in the summer typically lead to more volatility in gold as volume thins and traders have been opting for cash and gold over other assets to protect themselves against a weekend where anything can happen. Friday could be especially volatile with quadruple witching forcing traders to repurchase or se ll their options contracts before they expire.

The popular gold exchange-traded fund, SPDR Gold Shares(SPDR), added almost 2 tons Thursday as investors piled into gold despite prices nearing record highs.

Well, let's see if this holds true -- should be interesting! But there has NEVER been a better time to get out there are start prospecting for gold.

Here's wishing you a great prospecting trip, and may the bottom of your pan be golden.

Tags: gold nugget, gold screen, finding gold

Take a Family Gold Mining Trip and Hit Paydirt

GoldDigger — Mon, 10 Aug 2009 16:26:22 +0000

You Could Be Yelling "Eureka!" Despite the Failing Economy

I just read a great news story published by ABC News titled "Tough Times? Go Gold Mining"

"Financial markets are turbulent, family finances are unstable and the economy is imploding. Perhaps your next vacation or weekend jaunt should be a gold mining trip.

Former Northern California mining towns offer tourists the opportunity to try their luck at gold panning. Find a large golden nugget, and quit worrying about Wall Street investments.

"People frequently find gold flakes if they are persistent enough. However, every few months, someone will find a significant gold nugget which can be worth about $700 to $800 or more," said California state park ranger Suzie Bowman in Coloma, California's Marshall Gold Discovery State Historic Park.

"In my personal opinion, you have to be 7 or under to find them. It always seems like it's a little kid who finds them."

While the stock market is volatile, gold maintains some semblance of stability.

"Gold is an asset that bears no credit risk and, therefore, involves no counter-party and is no one's liability. This is an extremely attractive characteristic to investors, given the current turmoil in credit markets," said Natalie Dempster, head of investments for North America at the World Gold Council.

Even if there is no opportunity to yell "Eureka!" gold mining towns offer a unique perspective on life during the California gold rush.

Even though this article suggests you visit one of many commercial claims available to the public to mine for a fee, I say "why pay someone else when you can stake your own claim?"

There has never been a better time to stake a gold mining claim.

Gold Mining Claims For Sale

70 acre Gold Mining Claim Fiddler Gulch Trib of Josephine Creek Oregon
US $3,500.00

Stanton Arizona 40 acre Placer Gold Mining Claim
US $3,300.00

2 16 Foot Sandscrews Mining Equipment Gold Mining Claim Claims
US $8,500.00

655 GRAM ALASKA NATURAL GOLD NUGGET MINING CLAIM PANNING DREDGE SLUICE BULLION
US $48.60

568 GRAM ALASKA NATURAL GOLD NUGGET MINING CLAIM PANNING DREDGE SLUICE BULLION
US $42.20

575 GRAM ALASKA NATURAL GOLD NUGGET MINING CLAIM PANNING DREDGE SLUICE BULLION
US $42.80

1	Finding Gold and Treasure

Tags: gold pump, gold shavings, gold nugget

Soltera Mining Acquires 3 Past-producing Gold Mining Properties

GoldDigger — Thu, 11 Jun 2009 19:23:52 +0000

Soltera Mining Corp. (OTCBB:SLTA) has been busy acquiring properties in 2008, and continues in 2009. Unstable markets have been unable to dampen the resolve with which management goes about building shareholder value.

Soltera announced it had obtained two new Mexican gold properties through the acquisition of Aztek Mineral, S.A. de CV. One week after that, the vending in of the Eureka Copper-Gold property and joint venture with TNR Gold Corp. (TSX.V:TNR) was announced.

That brings to 4 the number of gold projects under development by Soltera, summarized as follows:

El Torno (Argentina, gold, mining rights 7,863 hectares) is located in the Andean Cordillera near the international border with Bolivia. The property contains a very large gold-bearing quartz vein that extends intermittently for at least 14 km long north-south. The vein is sub-vertical and the gold is concentrated in a 2 meter-thick breccia zone along its western flank.

Historically, El Torno was worked by the Incas and the Spanish over a long period and has more than 1,000 m of underground galleries. There is still a small-scale gold mining operation extracting gold from elluvial deposits on the east side of the vein. In 1997, Puma Minerals carried out 2,100 m of drilling on a 1 km length; and in 1999 Penoles Minerals (operators of the worlds richest silver mine and Mexicos richest and largest gold mines) undertook surface sampling, geological mapping and an IP geophysical survey in the same area. The combined (non NI-43-101 compliant) results of this work showed:

a) El Torno is within a gold province that extends several hundred kilometers north-south through Argentina and Bolivia;

b) The strongly mineralized breccia zone on the west side of the vein carries up to 37 gpt gold in the tested area, and has potential for several million ounces along the length of the vein;

c) Samples of stockwork zones some distance from the main vein gave up 23 gpt and in one case 112 gpt gold;

d) There are several IP geophysical anomalies that could indicate mineralization, but have not yet been drilled.

Soltera holds almost all the 14 km length and commenced their exploration in late 2007 with a geochemical stream sediment survey combined with structural mapping designed to target specific parts of the vein and the surrounding area for more detailed investigation.

Soltera will now define drill targets using more detailed geochemical and geophysical surveys. Drilling is scheduled to commence in the second quarter of 2008 and, given success, this will lead immediately to a full feasibility study to commence before years end.

Real de Cananea, Mexico

The Real de Cananea (Mexico, gold, mining claims 1,030 hectares) is located in Sonora State 26 km from the Cananea copper mine owned by Penoles. It contains a gold-bearing fault zone up to 270 m wide and more than 400m long within Cretaceous volcanic rocks that are intensely altered and carry gold.

There is a small old mine in the center of the property that was probably first worked by the Mayas and certainly by the Spaniards, with several shafts reaching 100 m below surface. The hard wallrock was mined with enormous effort and this, together with the fact that water had to be transported 8 km, indicates the importance of the mineralisation. Gold is widespread on the property, with altered rocks showing up to 65 gpt.

Solteras target is a large-scale open-pit and the area is broad enough to accommodate well in excess of 1 million ounces. Geochemical, geological and geophysical surveys will be used to define drill targets and drilling is scheduled for the third quarter of 2008.

Eureka, Argentina

(Argentina, copper-gold, around 10,000 hectares) is located in northern Argentina near the Bolivian border and only 3 km from the El Torno project. The property contains Red Bed type strata-bound copper mineralization within sedimentary sandstones, clays and conglomerates. The surface exposures are weathered and contain erratically distributed gold. Alluvial gold has been worked in the area since prior to the time of the Spanish arrival and there is an old mine with over 5 km of underground workings that exploited copper and gold on a small scale until 1987.

The deposit is similar in style to major copper deposits in the Bolivian part of the Tertiary Belt. A geological estimate in the late 1990s (historic resources estimate which is not NI-43-101 compliant) was 50 to 60 million tons grading 1% copper. Only 70 meters of the 450 m deep formation has been explored to date which leaves extensive upside potential.

TNR Gold Corp. (TNR), a Vancouver based mining company listed on the TSX with extensive experience in Argentina, has entered into an option agreement with the option vendor to acquire a 75% interest in the property by spending a total of US$3,000,000 in exploration and option payments before April 20, 2010.

TNR will undertake detailed geological mapping, trenching, geochemical and geophysical surveys, sampling the historic underground workings and drilling. Soltera is not required to incur any expenditure on the project at the present time.

Casita Colorada, the Companys other project in Mexico, is a large mineralized shear zone worked since the end of the 1800s for gold. The mineralized zone was at least 400 m long and 150 m wide and there is potential for a substantial gold deposit, but the project is being held in reserve so that the company can concentrate on El Torno and Real de Cananea.

Be sure to keep a close eye on SLTA over the next couple months. Geochemical assay results are due any day now, and theres plenty of news to be generated by exploration activity on all the properties.

About the Author: Eric Pratt is the Metals Editor at the Resourcex Investor, a premium source of news and investment ideas for individuals seeking information about emerging companies in the resource sector. Find our more by visiting ResourceXInvestor.com

Article provided courtesy of GoldschGold.com

Tags: claim, mining claim, gold mine

Mining Claims – Facts About Buying a Gold Mining Claim

GoldDigger — Fri, 22 May 2009 16:58:36 +0000

Buying Mining Claims

Mining claims, gold or otherwise, sell for just about any dollar amount. They are often priced not so much on the value of gold or other precious metals and gems they actually contain, but rather on some 'subjective' value attached by the seller!

Mining claims can sell for $200, or they can sell for a million dollars!

Price can and should also be influenced by the productivity of gold finds in the immediate area of the mining claim. But...

The best way to determine the actual real value that a mining claim holds for you is to sample it thoroughly. If you are considering buying a mining claim that you intend to dredge, it's not enough to just take samples up on the banks with a gold pan. Instead, it requires going out into the river with your equipment and dredging sample holes to obtain an accurate idea of how valuable the claim will be for dredging gold. It also is not good enough to dredge just one or two sample holes and stop there if you find paydirt. If you are going to pay a lot of money for the claim, it is wise to dredge more holes to see how long and wide the pay streak really is. Sometimes you can choose just the right spot (or the seller tells you where) to dredge a sample hole and get into awesome paydirt, only to later discover that it was just a single deposit or very small streak. This does happen, and it can be very misleading.

If a claim owner is asking a high price for a mining claim based upon his assurances that it is "extremely rich and productive," he should have no objections to you doing some sampling and testing to determine for yourself. It would be unreasonable for a seller to expect you to rely entirely upon his statements.

Watch out for a seller who play it up big and large, trying to get you all pumped up and seeing dollar signs about all the gold you are going to recover - so much so that you don't feel it necessary to do any testing! This is where a less-than-honest seller (con man) is going to try and get you.

When considering buying a mining claim - If it is worth a lot of money, it is worth sampling first! And not just a poke in the dirt here and there - Enough due-diligence sampling and testing to determine the gold recovery potential of the claim and if that 'potential' supports the purchase price.

Most typically a seller of a mining claim will invite interested bidders to go out to the claim to look it over and do some testing. And it is quite acceptable to request to just that, if the seller hasn't specifically stated.

Another thing to watch out for on a mining claim deal is by buying a mining claim from someone who does not really own it, or by paying royalties to someone who has given you permission to dredge on the claim, but who doesn't really own it.

With some easy research, you can locate any active mining claim in the County recorder's office and the Bureau of Land Management records to find out who really owns it and make sure the yearly paperwork has been kept up. You can research at the same time to see if anyone else has filed a mining claim on the very same location. If two or more people have filed mining claims on the same land, future conflicts are likely. So it would probably be wise to look for another mining claim to buy.

Perhaps it is not necessary if you make a percentage deal on a claim with a person who claims to own it. But definitely when you get into large amounts of gold, it may well be worth the slight bit of extra time it takes to verify the legal, registered owner of the mining claim being sold.

All this being said, a very good place to learn more about mining claims and to find gold mining claims for sale is eBay. There is a strong and growing gold prospecting community on eBay, with many cottage industries springing up that sell custom built, high tech prospecting equipment. There is really a lot to be learned just by watching and reading the gold mining listings there. Not to mention finding some very, very good prices and deals on everything from gold pans to gold mining claims.

A Few Mining Claims for Sale on eBay