This month's featured junior miner is a company called All American Gold. The company is a junior miner that is exploring for gold in the state of Nevada in the United States of America. All American Gold stock trades on the NASDAQ (OTCBB) and their ticker symbol is AAGC. The company has just under 100 million shares O/S. The companies head office is based in Indianapolis, Indiana.
At present All American Gold has three properties that it is actively working on in Nevada. These properties are the Belleville, Goldfield West and the Iowa Canyon.
The Belleville property is located near recent and historic producing mines including the Candelaria Silver Mine, which is ten miles to the east, and the Marietta Mine, six miles to the west. The Candelaria Silver Mine has produced more than $30 million in mineral resources. A 43-101 technical report has been completed for the Belleville property and has been reviewed by the company's technical team. All American Gold holds a 70% interest in the Belleville property. Scheduled to begin in the fall of 2011, the company plans to test the geophysical anomaly with angled reverse circulation (RC) drilling from two drill sites in the fall of 2011. A total of 1,500 to 2,000 feet of drilling is planned.
The Goldfield West is an advanced exploration property with defined targets including a defined resource comprised of 105 unpatented mining claims covering a total of 850 hectares, or 2100 acres. This property is adjacent to International Minerals Goldfield properties, which contain a reported 1.2 million ounces of gold resources. The Goldfield district is famous for multi-ounce, bonanza gold ores and has recorded historic production in excess of 4 million ounces of gold at an average grade of > 17 g/t Au.
Further continuation of exploration is scheduled for September 12th 2011. Drilling will target major structures which may host high-grade quartz-sulfide-gold veins similar to those in the main Goldfield district. A total of 1,550 to 2,000 meters of RC drilling is planned at six drill sites located in both the northern and southern parts of the property. Historic work conducted by Bear Creek, Placer Amex, U.S. Borax, Northing Mining and Bonaventure Enterprises has led to the completion of 138 drill holes in this area. Targets helped define at least 220,000 ounces, or more than $300 million in resources.
All American Gold holds a 35% interest in the Goldfield West property and retains the right to acquire a further 10% interest in the property.
The third property is the Iowa Canyon property which is located in Lander County, Nevada. Approximately 30 miles southeast of the Cortez Hills deposit. The Property is also located within 20 miles of the Cove-McCoy mine. Gold is hosted in a variety of rock types. Gold and silver mineralization is found in upper and lower plate rocks. Historic drilling by several companies, including Hemlo Gold and Brancote, identified gold and silver jasperoids within upper and lower plate sediments, as well as gold and molybdenum-rich porphyry dikes. Sampling conducted by these groups, as well as Rio Algom, assayed up to 5.6 grams per ton gold and 600 grams per ton silver from goassanous zones within upper plate siliceous rocks. Additionally, a single drill hole on the western side of the property contains up to 800 parts per million (ppm) molybdenum and 0.2 grams per ton gold over ten foot widths.
If you would like to know more about All American Gold or follow their activities, then visit their website and join their email list for up to the minute news releases. You can also follow along with us over at Junior Mining Stock Talk as we will be following this featured junior miner also.
You can also read even more about this junior here, and be sure to enter a chance to win a gold bar.