Recent High-Grade Precious Metals Discoveries

Rubicon Minerals (RBY) just updated us on its ongoing drilling project at Phoenix Gold at Red Lake, Ontario. Results measured more high-grade gold between 3.21 and 46.37 g/t. Moreover, recent drilling revealed a 21% increase in the strike length of the gold vein, suggesting higher gold resources than previously imagined.

Romarco Minerals (RTRAF) released more promising news from its Haile Gold Project in South Carolina. This time, assay results indicated high-grade gold between .9 and 33.7 g/t and confirmed an extension of the Ledbetter pit/gold zone in all directions as well as the presence of gold in the area between both Ledbetter and Snake zones.

Today’s news of Aurizon’s (AZK) high-grade gold discovery of 3 to 11.8 g/t gold at its Joanna Project in northwestern Quebec is only one reason for excitement. Results also suggest significant gold mineralization farther to the south, thus extending the gold zone.

Today Lake Victoria Mining (LVCA) announced assay results showing high-grade gold in samples of rock dump piles at its Singida Gold Project in Tanzania. An average of 3 g/t of gold was measured, similar to previous assay results from various samples on the property. Earlier, the company released assay results from its Kinyambwiga Gold Project which averaged roughly 3.5 g/t gold, including samples with as much as 13 g/t.

Last week, US Gold (UXG) announced further positive results from samples at its El Gallo property in Sinaloa, Mexico. Discoveries of high-grade silver between 89 and 1350 g/t were found after measuring 10 samples of Phase I testing.

Recent High-Grade Precious Metals Discoveries

As investors return from summer vacations, they’ll want to take a look at some of the following exploration companies that have recently encountered high-grade gold and silver:

Carpathian’s (CPNFF) second phase of drilling found a high grade gold in a range of 1.16 to as much as 9.55 g/t gold in some spots. Launched
last year, the drilling program takes place at its 100%-onwed Riacho Dos Machados gold project in
southeastern Brazil.

Claude Resources (CGR) announced last week that it had intercepted more high grade gold at its Seabee, Saskatchewan mine. Results ranged from 5.96 to 19.36 g/t gold.

For the fourth consecutive week, Lake Victoria Mining (LVCA) released positive news regarding high-grade gold from Tanzanian gold exploration programs. Recent sampling revealed an average gold grade of 3.48 g/t, with a range of .23 and 12.95 g/t.

African Aura (AAZ on TSX only) incredible results between .5 and 44.55 g/t gold at the Kambele Gold Project at the company’s 100%-owned Batouri property in eastern Cameroon. Thus far over half of the 44 holes drilled to date returned high-grade gold.

Detour Gold (DRGDF) recently intersected between 1.60 – 9.31 g/t at Detour Lake Gold Project, which includes a 2.5 km gold mineralization zone in eastern Ontario.

Houston Lake Mining (HLKMF) struck big on its Dogpaw Lake property, West Cedartree project in western Ontario. Grades ranged from .84 to over 36 g/t gold, indicating an extension of its gold mineralization zone.

Mirasol (MRZLF) announced positive news from its joint venture project at Joaquin, Argentina. Results from drilling found a range of 30 to 703 g/t silver. The property is 100% owned by Joaquin, however, funded and operated by the experienced, Coeur d’Alene Mines (CDE).

Rubicon Minerals (RBY) Posts Biggest Single-Day Rally in 3 Months

Yesterday, shares of Rubicon Minerals (RBY) advanced over 12% as speculation grew about just how much gold is at its prolific Phoenix Gold property at Red Lake, Ontario.

- Bloomberg posted an interview with CEO Adamson who stated, “The size of the system we’re currently defining is as large as the Campbell deposit, and the Campbell system was producing for well over 40 years.”

- John Graham, an analyst at Macquarie Research suggested that the property might have anywhere from 3 to 8 million ounces of gold.

- Over the weekend, Peter Zihlman, a Swiss analyst and fund manager reiterated RBY’s appeal.

- That same day, Rubicon announced the appointment of a newly-formed Vice President of Operations, Claude Brouchard, who brings over 25 years of mining engineering experience to the company.

So there you have it. Things continue to look better and better. It’s worth mentioning again that shares of RBY are up well over 300% since we told our readers and clients about the prolific nature of its Phoenix gold project and we’ve continued our coverage ever since.

Recent High-Grade Gold Discoveries

Our first recent high-grade discovery is none short of exceptional and gives us yet another reason to love Northern Abitibi Mining (NOMNF). Today the company reported on assay results at its Viking project in Newfoundland which continues to uncover high-grade gold between 1.9 and 136 grams per ton (g/t) of gold. Stay tuned, because the company expects to release further results in 2 weeks.

You might be surprised to hear from whence our next gold discovery comes–Armenia. Lydian International’s (LYDIF) drilling program recently uncovered between 1 and 10.2 g/t gold at its Amulsar project.

Closer to home, Cartier Resources (ECRFF) announced promising results from sampling at its Rambull project in western Quebec last week. Results from three trenches, each 100 m apart, ranged from 1.27 and 27.3 g/t gold.

The California gold rush lives on with Galway’s (GWYRF) recent discovery of high grade gold at three different properties. At El Dorado, samples averaged 9.6 g/t gold per ton including 86.03 g/t over 2 meters. At Machuca, the average was 3.85 g/t including 34.92 g/t over 2 meters. At the historic Pie de Gallo mine, 2.84 g/t per ton average including 14.2 g/t over 2 meters.

It doesn’t take drilling to find high-grade gold. A recent sampling of tailing piles at Lake Victoria Mining’s (LVCA) measured an average of 3.03 grams of gold per ton at its Singida mine in Tanzania. Measuring tailing piles is not only a good way to find more gold, but provides a good assessment of the contents of the ore on location.

Focus Minerals’ diamond drilling returned excellent high grade gold finds between 11.62 – 33.03 grams of gold per ton at Tindals Mining Center, Coolgardie Gold Project in Western Australia. Although unavailable for trading in the US, those with access to the Germany stock exchanges can get in on the action.

Niogold Mining Corporation (NOXGF) drilled as much as 43.67 gold at Alexandria Minerals’ (ALXDF) optioned Siscoe East Property in Western Quebec. Other holes returned between 1.53 and 1.71 grams per ton.

A Gold Penny Stock with an Attractive Dividend

Gold Coast Mining Corp. (GDSM) is a new company that finances mining operations, amongst other things. Most recently, it entered into a joint venture agreement with Western Sierra Mining (WSRA) regarding its mineral-rich Oro Cache and SunGold projects near Prescott, Az. Gold Coast has funded initial costs for Western Sierra to explore/mine the properties and will receive 50% of extraction revenues (estimated at close to $7.9 M annually).

In addition, Gold Coast Mining owns a 50% stake in Media Max Group, Inc. (MXMI), the new owner of 10 Hot Web sites such as www.hotautoweb.com. Media Max’s web sites generate millions annually from sales. Gold Coast is offering a dividend of 1 share of common stock in MXMI for every 30 owned shares in GDSM, effective August 31. So here’s your chance to get free shares of an emerging media company.

Shares of GDSM are presently valued at .0045 (at support), so a $10,000 investment in the company will give you approximately 74K shares of MXMI. Since May, shares of Gold Coast Mining (GDSM) have appreciated over 300%. Nevertheless, there are two important things to consider before trading or investing in GDSM or any pink sheet penny stock: extremely high daily volatility and low volume. GDSM has the potential to move more than 20 to 40% in either direction in intra-day trading. More importantly, volume can be so low that it could be extremely difficult to have your buy and/or sell orders filled, so use your best judgment.

Recent High Grade Precious Metals Discoveries

This week’s high grade gold and silver discoveries were all over the world, from Canada to Australia:

Last week, Richmont Mines (RIC) updated shareholders on its pre-feasibility study that found an average of 6.91 (indicated resources) and 5.15 (inferred resources) grams of gold per ton at its Francoeur mine in southwestern Quebec. Results echo historic production grades of roughly 6 grams per ton.

Northgate Minerals (NXG) announced the completion of its exploration program that found between 1.8 and 4.3 grams of gold per ton at its Stawell mine in Victoria, Australia. The implications of such results are an extended mine life until the second quarter 2012.

Lake Victoria Mining (LVCA) recently reported on the results of 175 samples with an average grade of 7.1 grams of gold per ton, including one hole measuring 140 grams per ton. The results confirm a gold zone of at least 5 kilometers long at its Singida property in Tanzania.

US Gold (UXG) is not just about gold. Its El Gallo project in Sinaloa, Mexico sits atop a growing silver resource. Last week it announced results indicating 5.6 to as much as 61 ounces of silver per ton (192 to 2110 grams per ton).

Northern Abitibi (NOMNF) Mining Corp. continued to give investors remarkable drilling results from its Viking Gold property in Newfoundland. Consistent with previous high-grade gold intercepts, holes showed high grades between 1 to as much as 37.5 grams of gold per ton. One hole included as much as 1035 grams of silver per ton, although much higher than any other hole measured. The implications of the latest discoveries are that the property hosts significant near-surface gold zones.

American Buffalo Still Possible to Find at a Reasonable Price

For the second time in less than a year, sales of the American Buffalo coin have been suspended. The last time that the only pure gold coin ever produced by the US Mint was suspended was in September 2008. Due to the increasing popularity of the American Buffalo, it’s now harder to find than ever. The following online dealers are currently out of stock:

- American Gold Exchange

- Austin Coins

- California Numismatic Investments

- Coast2Coast Coins

- Del Van Collectibles

This bullion coin comes with one of the highest premiums of any gold bullion coin. You can currently find them on Ebay, but they come with a hefty $ 250+ premium:

- Ebay “Buy It Now” average: $ 1,250

- Ebay auction average: $ 1,200

But we did find one dealer that is now selling them for just $ 100 over the spot price of gold. At $1,054 each, Monex is offering the coins; however, you must purchase a minimum of 10 at a time. If you’re looking to add a Buffalo to your collection, give them a call (1-800-444-8317) today.