NY-headquartered mineral E&D (emphasis on gold and copper) company Shelron Group, which is primarily focused on rigorously analyzing and identifying key acquisition targets in Africa/South America, announced today that its newly formed subsidiary, Serena Gold, LLC, has signed a binding memorandum of understanding to acquire prime territory in Northern Chile via six (1,800) gold exploration licenses.
This cherry little patch of land has stunning geological analogs, with the nearest being the producing Carmen de Andacollo deposit, which saw some $40M in output in 2010 alone (27,700 oz Au and 34.8kt of Cu). The soon-to-be-acquired prospect is just over five miles north of Santiago, on the opposite side of the city from Carmen de Andacollo and at a comparable distance, with superb accessibility by road.
Site location's highest elevation is just 6,500 feet and the water supply on hand is ample, with nearby rivers providing a good source and the Pacific Ocean close enough to make desalination an option, should large-scale production require it.
With a rich history of nearly a century of artisanal mining, the location is clearly abundant and there is even a small adjacent license holder with a tiny artisan operation going. Indeed, the site is readily characterized by native gold, clearly visible in random rock samples lying around. The most recent (spring 2011) in a long track record of studies near the target acreage has documented the geological profile and SRNG is confident that this deal will offer a promising foothold in Northern Chile for the company and its shareholders.
Outstanding Chilean legal/procedural attitudes towards mining have created an exceptional environment for companies like SRNG to maximize project potential and the company is laser-focused on making sure Serena Gold's success is ensured. Peaceful, democratic conditions and abundant, highly-trained, highly-capable labor make the growth curve look solid, with acquisition of the licenses basically just awaiting customary due diligence by Serena Gold and the achievement of acceptable terms.
The plan will be to grab as much additional license footprint as needed/possible upon funding, at which point the carefully selected acreage will be put through 43.101 explorations in order to bring resources estimates to reserves status. SRNG will then utilize the results to monetize via sale, production, or other means via Serena Gold.
The Philly Fed Report shows manufacturing in the Philadelphia region slumped in April, with the bank's business condition index falling 32% from March to 8.5, farther than expected by economists. Managing Director over at the IMF, Christine Lagarde, said today that a storm of dark clouds has gathered over what is essentially a timid global recovery, with European sovereign debt being a serious concern that places the EU at the epicenter.
Lagarde commended improvements to the euro zone firewall and indicated the need to continue reforms, also noting that China's push to expand the Yuan trading band was no mere baby step, indicating strong receptiveness to further actions along that vector by the PRC. China's insatiable appetite for precious metals is a strong indicator and secondary validation of the trend is evident in market phenomenologies in proximal regions like Mongolia, where lack of physical supply has caused a massive up swell in artisanal mining activity, creating a veritable army some 60k herders, farmers, and urban unemployed turned "ninja miners" (so called for the big green panning dishes commonly worn on their backs that look like turtle shells).
Shelron Group knows the score and is aggressively developing a solid envelope of core, resource producing sites that will ensure future profitability and shareholder upside.
For more information on the signing of the memorandum of understanding, or to find out more about Shelron Group, Inc., please visit the company's website at: Shelron-Group.com
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