Re: Here we go again.....
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posted on
Sep 29, 2014 09:22AM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
Amarok Resources (AMOK) Lands Peru Gold: Stunning Deposits Confirmed at Cueva Blanca Early exploration produces gold at 131 oz./ton grade in trench sample Lambayeque, Peru – Amarok Resources, Inc. (AMOK) recently announced the acquisition of the 1,200 hectare Cueva Blanca property situated in the Lambayeque district of Northern Peru. Amarok Resources shareholders expect to be richly rewarded by the company’s winning move on Cueva Blanca. With major producers on a buy-out spree for multi-million ounce deposits, AMOK shareholders may want to cling tightly to existing holdings, perhaps even load up on a few more. High grade gold strikes already uncovered Trench samples taken from the northern part of the property at Zona Verde submitted to Bondar Clegg returned an overall grade of 47.12 grams per ton (1.374 oz/ton) gold. Three continuous samples representing 9 meters returned gold assays in grams per ton as follows: Sample 190575 Sample 190576 Sample 190577 0.81 g/t gold in fines 47.3 g/t gold in fines 15.1 g/t gold in fines 3.84 g/t gold in coarse 3,727.4 g/t gold in coarse 1,036.3 g/t gold in coarse 0.83 g/t gold in blended 109.2 g/t gold in blended 31.32 g/t gold in blended Results were confirmed in petrological studies from Cominco Exploration Research Lab (Vancouver) and Lehne and Ocharan Petrologists (Lima). Cueva Blanca is located in Peru’s most productive mining region the Yanacocha-Pierina metallogenic belt extending prominently north and south along the Andean Mountain Range. Amarok is a Nevada-based junior exploration company best known for its current exploration in Carlin Trend, Nevada. Its 540 acres Carlin Trend property lies adjacent to Barrick Gold’s Storm, Dee and Arturo South mines, and a few miles north of Newmont Mining. Calculations from the initial exploration at Cuerva Blanca indicate an inferred resource of 190,000 ounces of gold and 945,000 ounces of silver. At current gold and silver pricing, $1,324.60/oz and $23.12/oz, the inferred resource value totals $273.52 million. Mining in the Yanacocha-Peirina belt is largely undertaken by global companies such as Newmont Mining, which now operates the largest gold mine in Latin America, hosting 30 million ounces of known reserves to date. With a significant percentage of the Cueva Blanca property favorably located in the same geological region, Amarok Resources has good cause to believe its latest acquisition will attract the interest of these, or another global mining company. Most notable among the Yanacocha-Pierina mines are Newmont Mining (Yanacocha), Barrick (Pierina) and Rio Tinto (La Granja).
Amarock Resources trades under the symbol AMOK on NASDAQ Bulletin Boards http://national-gold.com/goldrush.pdf
It appears that Amarok wasn't the one that terminated the option agreement....it seems that she wanted Intigold to have it:
St. Elias to option Cueva to Intigold, ends Amarok deal 2011-05-09 09:05 ET - News Release Also News Release (C-IGD) Intigold Mines Ltd Ms. Lori McClenahan of St. Elias Mines reports ST. ELIAS MINES LTD. TERMINATES AN OPTION TO AMAROK RESOURCES INC. AND GRANTS AN OPTION TO INTIGOLD MINES LTD. TO ACQUIRE A 60% INTEREST IN THE CUEVA BLANCA GOLD PROPERTY, PERU St. Elias Mines Ltd. has terminated a letter agreement dated April 16, 2010, with Amarok Resources Inc. with respect to an acquisition of a 60-per-cent interest in the company's Cueva Blanca gold property. The company further announces that it has now entered into a letter agreement with Intigold Mines Ltd. whereby the company has granted an option to Intigold to earn a 60-per-cent carried interest, subject to a 1.5-per-cent net smelter return royalty (NSR), in the property, located in northern Peru. Intigold is a publicly traded mineral exploration company.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3ASLI-1839282&symbol=SLI®ion=C