Recent High Grade Gold Discoveries

If you’re ever looking for fresh high grade gold discoveries, you can always count on a small exploration company in northern Ontario, one of the world’s most mineral-rich regions. Last week two such companies release stellar results:
Roxmark (RXKMF) announced surface drilling results indicating high grade gold at its Northern Empire property in Ontario. Grades between 4.57 and 36.4 grams of gold per ton were found, leading the company to continue the drilling program.

MPH Ventures’ (MPSFF) Ontario mine also returned excellent drill results at its Geneva Lake and Big Mac Projects. Assay results indicated 4.7 to as much as 15.9 grams of gold per ton.

Recent High Grade Precious Metals Discoveries…Continued

We’ve had so many major precious metals discovery announcements yesterday, that we had to give you a detailed update. No surprise, North America is at the heart of all the action, but more specifically our focus is on Canada where several junior exploration companies have just released astounding results…

…and the winner is Metals Creek Resources (MCREF) which announced prolific assay results of up to 64.4 grams of gold per ton. The results come from Porphyry Hill located on the Ogden Property (owned by Goldcorp) in the mineral-rich Timmins, Ontario region. The project, which just began earlier this month is part of a 2000 m diamond drilling program option agreement (with Goldcorp).

Northern Abitibi (NOMNF) continues to report stellar grades at its Viking project in Newfoundland including its most recent intercept of between 18 and 45 grams of gold per ton. Earlier this month, the company announced that it encountered even better gold grades between 25 and 98 grams per ton; and last year, grades of up to 218 grams per ton were encountered.

Yesterday Claude Resources (CGR) reported on results of its ongoing exploration program at its Seabee mine in Saskatchewan, Canada. Results ranged from 13 – 23 grams of gold per ton, somewhat higher than annual processed grades at the Seabee mill. The latest results are expected to have a “positive impact” on future gold output.

Romarco Minerals (RTRAF) released great drilling results from its Haile Mine in South Carolina. Although you may not associate gold with the Carolinas, grades at Haile have ranged from 1 to as much as 19.7 grams per ton with the largest portion measuring 8 grams per ton.

Ressources Appalaches (APP.TO – unlisted in the States) reported on drilling at its 100%-owned Dufferin mine in Nova Scotia. It continued to return high-grade gold at 7 to 12 grams per ton, which is a bit lower than grades of up to 36 grams per ton reported earlier this year.

Recent High Grade Precious Metals Discoveries

North America is again leading the world in new high grade gold and silver discoveries. Perhaps most exciting for investors was that Ventana Gold uncovered grades of up to 25 grams of gold per ton. As precious metals prices climb higher this week, these following companies are worth a look.

Last week, Ventana Gold (VEN) updated shareholders on its drilling program at La Bodega mine in Northeastern Colombia. The company’s fully-owned mine is located in the prolific California-Vetas gold district, right next door to Greystar Resource’s (GYSLF) 11.5 M-oz. Angostura mine. Ventana’s ongoing drilling at its La Mascota high grade zone yielded between 2 and 25 grams of gold per ton. Out of 120 scheduled holes, the company has already completed 115, and is on schedule to finish the project on time.

Gammon Gold’s (GRS) $ 12 M exploration program at its Ocampo, Chihuahua, Mexico mine recently uncovered more high grade gold and silver. Similar to previous intercepts, the most recent results range from about 4 to 7.80 grams of gold per ton and between roughly 330 and 460 grams of silver per ton. With about half of scheduled drilling completed, the company hopes to complete the program by year’s end. Stay tuned for results of the deeper third phase of drilling due by the end of the month.

US Gold (UXG) updated shareholders and potential investors on its ongoing drilling at the Limo Project, located in Nevada’s mineral-rich Cortez Trend. At 44 square miles, or roughly the size of San Francisco, the property has identified a 15-mile-long gold zone. Recent intercepts ranged from 1.8 to 9.5 ounces of gold per ton, bringing measured and indicated resource totals to about 241,000 ounces of gold.

Lastly, and on the lower end of the spectrum, Northgate Minerals (NXG) released its pre-feasibility study of its Young-Davidson Project near Kirkland Lake and Timmins, Ontario. The study indicated recent drilling results from several zones with high grade gold between 1 and 3.4 grams of per ton.

Is Anglo American the Most Undervalued Major Miner?

Anglo American (AAUK) is more than just a major miner–it’s one of the most diversified metals and minerals holders in the world. With such a wide range of valuable assets, owning shares of AAUK would be a great addition to any portfolio.

Copper, nickel, and zinc rake in a significant portion of the company’s profits. As China, India, and Brazil continue to develop at such a fast pace, the demand for these base and industrial metals will inevitably increase.

Make no mistake; the company is still a big player in the precious metals sector. Although it recently sold its stake in major gold miner, AngloGold Ashanti (at the same time gold was trading above $ 950), Anglo American is still exposed to platinum. Through its subsidiary, Anglo Platinum, it’s the world’s largest platinum producer, supplying roughly 40% of all the world’s platinum.

In addition to platinum, Anglo American owns a 45% interest in De Beers, making it one of the largest holders of diamonds in the world. The company’s mines are located in some of the most mineral-rich regions on every inhabitable continent. To top it all off, Anglo American has about $ 10 B annual profits.

Like other platinum stocks, AAUK’s price is well below highs set a year ago. At under $ 1,200 platinum prices are also a far cry from last year’s high of $ 2,280 as well.

The good news is that since hitting a multi-month cyclical low in April, shares of AAUK rose 80% and we’ve seen fair reversal signals. If the reversal is confirmed, we expect AAUK’s prices to climb back to the $ 25-30 range by year’s end–near last year’s highs.

Presently, the company is in merger talks with smaller diversified miner, Xstrata plc, which is desperately trying to create a mega mining company and increase its platinum reserves. Anglo American rejected the proposal citing an underestimation of its real value. AAUK is attracting quite a lot of attention as investors finally wake up to the realization that it is sorely undervalued.

Recent High-Grade Precious Metals Discoveries

Our most recent high-grade precious metals discoveries were all in North America including US Gold’s (UXG) recent find at its El Gallo, Mexico mine. The company reported a significant expansion of the mineralization zone to both the northwest and southeast and up to about 270 grams of silver per ton over 179 feet.

Last week, Gold Resource Corp (GORO) announced that it has intercepted 21.7 grams of gold per ton over .75 meters as well as 2,920 grams of silver per ton at its La Arista Deposit. One of three high-grade gold and silver deposits, La Arista is located at the company’s El Aguila mine in Oaxaca, Mexico.

West Timmins Mining, Inc (WTMNF) announced that it intersected 11.15 grams of gold per ton over 7.3 meters at its Golden River North Zone. The intersection follows similar results reported 2 months ago at the company’s 100% owned, 114 sq. km Thorne property in Timmins, Ontario.

On June 30, Anglo Swiss Resources (ASWRF) reported high-grade gold assay results from its Kenville Gold mine. The results showed about one-third of gold assays above 100 grams of gold per ton with the highest measuring at an astonishing 319.3 grams per ton in the North Yule vein. The property is located on over 1,000 acres in southeast British Columbia.