Based on a synthesis of data from internal studies, public data, and information released by other companies, Select Resources Corporation, the minerals subsidiary of Tri-Valley Corporation (NYSE AMEX:TIV), has more than doubled its gold claim block at Shorty Creek near Livengood, Alaska, the scene of a major U.S. gold play.
Select has increased its land position from approximately 17 square miles (44 square kilometers) by about another 22 square miles (57 square kilometers) to a total of about 39 square miles (101 square kilometers). At this time these amounts are approximate due to small parcels and fragments that are along irregular boundaries or are owned by other parties and occur inside Select’s major block.
“This action very substantially increases Select’s amount of prospective land adjacent to International Tower Hill’s Livengood project that now, after more than 115 diamond drill holes, is so far reporting 3.4 million indicated ounces and 3.4 million inferred ounces of gold on their website,” said James G. Bush, president of Select.
“Our geochemical and geological data indicate an anomalous gold trend extends farther southward from the ITH property than previously thought, through the properties Select acquired earlier and farther south on into Select’s newly staked property. Furthermore, our surface geochemical anomalies exceed the levels of anomalous geochemistry found on the ITH main trend, and our drill data indicates equivalent favorable grades in the subsurface. More drilling is the next step,” Bush said.
The Shorty Creek property is accessed by the year around Elliott Highway through the Livengood Mining District some 70 miles (112 km) north of Fairbanks. It is not in a wild or scenic area and does not drain into sensitive streams. All claims are on mining friendly State of Alaska lands. The Livengood Mining District has historically been a placer operation area. However, AngloGold Ashanti and Select Resources each began lode exploration some years back. AngloGold withdrew but its former exploration staff formed International Tower Hill and continued the work. ITH has now extensively drilled its property confirming serious amounts of minable grade gold resources and, according to recent press releases, has raised some $32 million to further advance its property. Select believes it can have similar success on its claim area and is preparing a capital raise while it looks for a joint venture partner.
“When the relevant anomalies consisting of 1) soil and rock chip geochemistry, stream sediment geochemistry and hydrology; 2) geophysics including airborne magnetic and electromagnetic data and geophysical 3-D magnetic susceptibility modeling using processed RTP (reduced to pole) magnetic data (filtering out long-wave length, deeper signals) and computed 2-D resistivity modeling; 3) basic geology and geologic alteration, resulting from work conducted by Select and other companies are all combined there is strong indication of multiple drillable targets at Shorty Creek over a much larger area than previous believed. Furthermore, there is a sub-linear trend of exposures of attractive igneous rocks, intrusive contact alteration signatures, and related gold geochemical anomalies that align with the southern extensions of ITH’s property. Elsewhere there are anecdotal indications of old mining efforts that were unsuccessful due to low grade. With today’s highly innovative heap leach techniques, spearheaded for arctic climates by Kinross Gold at their Fort Knox mine (approximately 60 line-miles (97 km) from Shorty Creek), that which was unsuccessful in the past, may well be attractive today-especially with gold price nearing $1,000 per ounce and fears of sharp inflation mounting,” Bush said.
Select Resources also has the 45 square mile (116 square kilometers) gold claim block at Richardson, Alaska some 65 miles (105 km) south of Fairbanks on the all weather Richardson Alaska Highway with multiple drill targets. Select also owns the Admiral Calder high grade calcium carbonate deposit at Calder Bay on Prince of Wales Island, Alaska which is currently in a care and maintenance mode as the Company lines up customers for re-opening the quarry.
Tri-Valley has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the New York Stock Exchange AMEX under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.
Contact:
Tri-Valley Corporation
Egan Gost, Director of Public and Investor Relations
1-800-579-9314
source: yahoo
Select has increased its land position from approximately 17 square miles (44 square kilometers) by about another 22 square miles (57 square kilometers) to a total of about 39 square miles (101 square kilometers). At this time these amounts are approximate due to small parcels and fragments that are along irregular boundaries or are owned by other parties and occur inside Select’s major block.
“This action very substantially increases Select’s amount of prospective land adjacent to International Tower Hill’s Livengood project that now, after more than 115 diamond drill holes, is so far reporting 3.4 million indicated ounces and 3.4 million inferred ounces of gold on their website,” said James G. Bush, president of Select.
“Our geochemical and geological data indicate an anomalous gold trend extends farther southward from the ITH property than previously thought, through the properties Select acquired earlier and farther south on into Select’s newly staked property. Furthermore, our surface geochemical anomalies exceed the levels of anomalous geochemistry found on the ITH main trend, and our drill data indicates equivalent favorable grades in the subsurface. More drilling is the next step,” Bush said.
The Shorty Creek property is accessed by the year around Elliott Highway through the Livengood Mining District some 70 miles (112 km) north of Fairbanks. It is not in a wild or scenic area and does not drain into sensitive streams. All claims are on mining friendly State of Alaska lands. The Livengood Mining District has historically been a placer operation area. However, AngloGold Ashanti and Select Resources each began lode exploration some years back. AngloGold withdrew but its former exploration staff formed International Tower Hill and continued the work. ITH has now extensively drilled its property confirming serious amounts of minable grade gold resources and, according to recent press releases, has raised some $32 million to further advance its property. Select believes it can have similar success on its claim area and is preparing a capital raise while it looks for a joint venture partner.
“When the relevant anomalies consisting of 1) soil and rock chip geochemistry, stream sediment geochemistry and hydrology; 2) geophysics including airborne magnetic and electromagnetic data and geophysical 3-D magnetic susceptibility modeling using processed RTP (reduced to pole) magnetic data (filtering out long-wave length, deeper signals) and computed 2-D resistivity modeling; 3) basic geology and geologic alteration, resulting from work conducted by Select and other companies are all combined there is strong indication of multiple drillable targets at Shorty Creek over a much larger area than previous believed. Furthermore, there is a sub-linear trend of exposures of attractive igneous rocks, intrusive contact alteration signatures, and related gold geochemical anomalies that align with the southern extensions of ITH’s property. Elsewhere there are anecdotal indications of old mining efforts that were unsuccessful due to low grade. With today’s highly innovative heap leach techniques, spearheaded for arctic climates by Kinross Gold at their Fort Knox mine (approximately 60 line-miles (97 km) from Shorty Creek), that which was unsuccessful in the past, may well be attractive today-especially with gold price nearing $1,000 per ounce and fears of sharp inflation mounting,” Bush said.
Select Resources also has the 45 square mile (116 square kilometers) gold claim block at Richardson, Alaska some 65 miles (105 km) south of Fairbanks on the all weather Richardson Alaska Highway with multiple drill targets. Select also owns the Admiral Calder high grade calcium carbonate deposit at Calder Bay on Prince of Wales Island, Alaska which is currently in a care and maintenance mode as the Company lines up customers for re-opening the quarry.
Tri-Valley has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the New York Stock Exchange AMEX under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.
Contact:
Tri-Valley Corporation
Egan Gost, Director of Public and Investor Relations
1-800-579-9314
source: yahoo
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