Timberline Resources, the domestic gold developer focused on advanced-stage targets in the western U.S., including properties like their flagship Lookout Mountain project on the company's 23 square-mile South Eureka land package in Nevada (one of the biggest remaining undeveloped sites in the state and on-trend with Barrick Gold's 2M oz Archimedes/Ruby Hill mine), reported appointing 40-year mining industry veteran, Leigh W. Freeman, to the company's Board today. Freeman is also set to receive 100k common stock options at an exercise price equal to fair market value at the time of the grant (immediate vesting, five-year term).
This appointment brings Mr. Freeman into a key managerial and oversight role where his vast first-hand industry experience and professional connections will serve TLR shareholders well as the company advances its growing portfolio of assets. Assets that include a 50% carried interest ownership stake in the Butte Highlands Joint Venture over in Montana, which is slated to commence production sometime here in the middle of this year and which saw some choice returns like a 33.6-foot interval grading 1.65 opt Au (with a 5-foot interval grading 10.45 opt) in the company's recent 53k-foot underground diamond drilling program.
With this kind of massive exposure to developable resources, it is no wonder TLR moved to grab a guy like Freeman, who currently serves as GM and Principal over at eminent and internationally recognized recruitment consultancy firm, Downing Teal, which has a built up a tremendous reputation for solving the difficult challenges of finding the right, qualified personnel for sector interests that range from mining, to construction, and energy production. Freeman is also CEO and Director over at noted private producer/marketer of premium renewable fuel products, like top-shelf B100 biodiesel, Blue Sun Energy.
President and CEO of TLR, Paul Dircksen, hailed the appointment as a major coup for the company ahead of the run up to production at Butte and his presence will also seriously help to speed along developments at the sprawling South Eureka project (latest NI 43-101 on the Lookout Mountain site shows 221k oz Au inferred). Dircksen also applauded the efforts of out-going Director Ron Guill, who has been on the Board since 2007 and has helped spearhead much of the work at Butte, confirming to shareholders that Ron will continue to support the company's portfolio development roadmap.
Freeman really knows the game and has paid his dues in the industry's trenches, serving in a variety of executive, managerial, and technical roles at both junior and senior mining/service companies. For instance, Freeman co-founded Orvana Minerals and also served as President/Director, handling multiple, similar positions at Placer Dome as well. Mr. Freeman is very well connected in the industry as a whole, serving as a trustee on the industry advisory board for the University of Arizona's mining programs and in the same capacity for the Montana Tech Foundation. Freeman even co-chaired the Society of Mining Engineer's Education Sustainability Committee and was appointed to the National Academy of Science's "Emerging Workforce Trends in the US Energy and Mining Industries" ad hoc committee as the mining representative.
The precious metals space is really heating up across the board and that is great news for domestic developers like TLR. With gold, platinum, silver, and other precious metals all attracting more and more investment capital amid consistently turbulent long-term global economic forecasts, we see a bullish trend in metals typified by things like yesterday's report out of Reuters that the U.S. Mint just ran out of American Eagle silver bullion coins due to skyrocketing demand from investors and has ceased sales until Jan 28.
For more information on Timberline Resources, visit Timberline-Resources.com
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