Stocks Linux
Stocks Linux
Linux Gold Corp (otcbb:lnxgf) New Ester Lode Project
When I spoke to John Robertson, president of Linux Gold Corp. about the new property announced on October 18th near Fairbanks, Alaska, he looked like a very happy person indeed.
“I can’t say much about it. The owners have extremely high expectations and the preliminary geology looks very interesting, but there’s no (N.I.) 43-101 compliant data available just yet. Our consulting geologist (and Qualified Person under NI 43-101*) took multiple samples from existing channels, and those assays will be out in a couple of weeks. That will be the first information we have that is 43-101 compliant.”
So why Alaska and why now?
For starters, Alaska’s gold resources in all categories (measured, indicated and inferred) have increased from a little more than 1 million ounces in 1985 to over 108 million ounces at the end of 2004. Of this total, over 60 million ounces have been put on the books since the price of gold was under serious pressure back in 1997. Over the last ten years, Alaska has added gold to its “ounce bank” at an average rate of 8.6 million ounces per year at a discovery cost of $3.36 per ounce.
The Pogo gold mine is currently in production, while an additional four gold projects, Donlin Creek, Rock Creek, Gil and Nixon Fork, are in permitting or advanced development stages. They will be adding value to Alaska’s mineral production over the next 5 years.
The reason for the excitement at Linux Gold is apparent. Ester Lode is in the middle of the Fairbanks Gold District, one of the more prolific gold areas in North America. Over 10 million ounces of gold have been recovered from placer mining alone since 1902.
All one needs to do is examine the impressive progress of Freegold Ventures Ltd.’s – Golden Summit property to get a sense of the incredible potential. Golden Summit is within the heart of the district, with over 6.75 million of the placer-mined ounces directly attributable to the streams that drain the Golden Summit project area. Golden Summit contains over 80 known gold occurrences, and is host to the largest and highest-grade historic lode gold producers in the district, with over 500,000 ounces of gold having been produced from underground mines from 1902 to 1942 at average grades in excess of 1 oz/ton.
Historic average grades of the two largest underground mines on Golden Summit were 1.3 oz/ton at the Cleary Hill Mine (281,000 oz total production) and 1.6 oz/ton at the Hi Yu Mine (110,000 oz of total production). Many mines were forced to shut down at the beginning of WW2 and never reopened, while others that attempted to reopen after the war simply could not handle mining once the water table was hit, or once bad ground was encountered (neither of which is a serious impediment to today’s modern mining methods).
Immediately following receipt of the assay results from the sampling program taken mid October, Linux will waste little time in drilling select targets to determine the nature and grade of the Ester Creek deposit. Wise investors will look carefully at this stock, prior to drilling. A high-grade intersection of 1 ounce per ton should garner serious attention from investors and fund managers.
For decades prospectors have been looking for the source of the gold that has been feeding nearby creeks and river systems where placer miners have recovered 10M ounces to date. The owner of the property believes the Ester property is connected to that source.
A significant advantage of the Ester situation (compared to the Kinross Fort Knox mine a few miles away, for example) is the low cost required to build a mill to economically crush high-grade underground ore – $20 million approximately. The Kinross low grade/bulk tonnage open pit cost roughly $750 million – approximately 350 ounces of production per day or $175,000 at today’s gold price. With Linux Gold Corp. (LNXGF) trading under $1.00, there is quite an opportunity.
* National Instrument 43-101 governs a company’s public disclosure of scientific and technical information about its mineral projects
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Rebecca Black Friday Comments Disabled And Removed
|
|
Logitech Wireless Touch Keyboard K400 with Built-In Multi-Touch Touchpad (920-003070) $29.99 For lean-back wireless control of your laptop-even when you’re connecting it to your TV. You can control your laptop from the comfort of your couch thanks to the 10-meter (33 feet) wireless range., A large, built-in touchpad with multi-touch navigation lets you point and scroll your way around the Web., No cords, software or hassles. Just plug the tiny Logitech Unifying wireless receiver into a US… |
|
|
ASUS PCI 5.1 Channel Sound Card XONAR_DG $23.72 ASUS HEADPHONE AMP 5.1 PCI SOUND CARDHEADPHONE AMP 5.1 PCI SOUND CARD Manufacturer : ASUS UPC : 610839339976… |
|
|
ASUS (RT-N16) Wireless-N 300 Maximum Performance single band Gaming Router: Fast Gigabit Ethernet, support USB-Hard Drive and Printer and Open source DDWRT $80.00 RT-N16 has enough bandwidth and processing power to simultaneously handle file transfers and downloads, video streaming, games and VoIP calls. Advanced MIMO technology makes it all possible…. |
|
|
Pantone huey Pro MEU113 $69.36 Designed for calibrating and profiling all types of monitors LCD and CRT. Each individual package includes a huey measurement device (emission only colorimeter) with ambient measurement capabilities, and software for monitor calibration. huey corrects the color on your monitor so photos and designs print more accurately, game graphics are more intense and movies are more true to life. Easy to use… |
|
|
Combat Flight Simulator 3.0 95/98/wme/nt Cd Club $54.95 This software is BRAND NEW. Packaging may differ slightly from the stock photo above. Please click on our logo above to see over 15,000 titles in stock…. |
|
|
Train Simulator $24.95 This software is BRAND NEW. Packaging may differ slightly from the stock photo above. Please click on our logo above to see over 15,000 titles in stock…. |
|
|
Rapid GUI Programming with Python and Qt (Prentice Hall Open Source Software Development) $36.15 The Insider’s Best-Practice Guide to Rapid PyQt 4 GUI DevelopmentWhether you’re building GUI prototypes or full-fledged cross-platform GUI applications with native look-and-feel, PyQt 4 is your fastest, easiest, most powerful solution. Qt expert Mark Summerfield has written the definitive best-practice guide to PyQt 4 development.With Rapid GUI Programming with Python and Qt you’ll learn how to bu… |
|
|
Wicked Cool Perl Scripts: Useful Perl Scripts That Solve Difficult Problems $11.32 Most Perl programmers have been frustrated at one time or another because the system just wouldn’t do what they wanted it to do. There was that one simple and obvious utility that was missing that would make life so much easier: A tool to get a stock quote, show off a photograph collection, or even display a collection of favorite comics. Wicked Cool Perl Scripts is about writing those utilities q… |
|
|
Electronic and Algorithmic Trading Technology: The Complete Guide (Complete Technology Guides for Financial Services) $49.58 Electronic and algorithmic trading has become part of a mainstream response to buy-side traders’ need to move large blocks of shares with minimum market impact in today’s complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larg… |
|
|
Blue Microphones Yeti Pro USB Condenser Microphone, Multipattern. $249.00 The Yeti Pro is the world’s first USB microphone combining 24 bit/192 kHz digital recording resolution with analog XLR output. Featuring three custom condenser capsules and four different pattern settings, the Yeti Pro can capture digital audio with up to four times the clarity found on CDs. Plus, the Yeti Pro features a cutting-edge A-D converter chip and separate analog circuit path for usewith … |
