With economic times remaining uncertain (though rumor has it that things are on the upswing throughout North America), wealth is still being found in the ground, and the competition to find these riches is getting fiercer by the day.
Nevada is called the "Silver State" for a reason; much of America’s silver lays dormant beneath the surface of that state, and a local company is boasting a new conquest, of which it is confident more silver -- and gold, and other minerals -- are waiting to drawn out.
On the first business day in May, Reno-based Silver America, Inc. (OTCBB:SILA) came out with news that it had acquired what looks to be a very lucrative Keeno Strike Property silver and gold project in Clark County. SILA will soon get looking into what lurks beneath the property, and the exploratory work program will test about 1.1 million ounces of gold and 69 million ounces of silver potential.
A report released in the spring of 2008 showed mineral deposits of lead (in the neighborhood of 130,000 tons), zinc (115,000) and copper (13,000), which, taken as a sun total, could represent an estimated equivalent gross in situ value in excess of $3 billion.
Keeno Strike is about 30 miles southwest of Las Vegas, in the Goodsprings/Yellow Pine Mining District, where much of the above mentioned minerals abound.
SILA focuses on the aggressive, ongoing acquisition and exploration of holdings with rich silver and gold production potential.
SILA has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.
In addition to its holdings in Nevada, SILA has also extensive property in Mexico’s Zacatecas state, where the company’s Guadalupe mine produces anywhere from three to four tons of ore a day, with an indicated average resource grade of 879 grams per ton (g/t) silver, or roughly twice the grade of the ore produced on the neighboring Fresnillo mine, acknowledged as the world’s richest underground silver mine.
A recent chip sample taken from one of the workings on Guadalupe returned 3.32 g/t gold and 342 g/t silver, across 1.5 metres of vein.
The news about Keeno Strike sent SILA racing through the roof, bettering its 52-week high of $1.15, set in early April. On May 3, the stock closed at $1.16, a far cry from the two-10th-of-a-cent reading it showed in early December. Still, as its fortunes improve, investors may find themselves smiling in the future, if they investigate SILA now.
Related Stories
