Argentine gold production to increase 21% in 2010

BUENOS AIRES (miningweekly.com) – Gold production in Argentina will grow to 2,05-million ounces this year, Mining Secretary Jorge Mayoral said on Monday.

Gold output in the country was 1,7-million ounces in 2009.

“There has been a recovery in the drilling stages after last year's crisis, and there are record levels of prospecting and exploration all over the country,” Mayoral told local journalists in an interview held in his office.

AngloGold Ashanti, Barrick Gold and Xstrata are among the big companies that produce gold in Argentina.

Goldcorp, the second-biggest Canadian gold producer, offered this month to pay C$3,6-million for Andean Resources, an Australian gold producer whose flagship project is in the southern region of Patagonia.

Gold is the metal that has the best growth perspectives in the country in the short term, Mayoral said.

The metal has set successive new records in the last couple of weeks, and touched above $1 300/oz for the first time last Friday.

Investors are moving money into the precious metal as a haven against riskier assets, and amid speculation of further quantitative easing.

Silver output is also expected to increase in Argentina, to 70-million ounces a year by 2017, from the 25-million produced in 2009. The estimate assumes that several projects being studied are moved into production.

Edited by: Liezel Hill

 

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Golden Peaks Reports Reconnaissance Holes

Press Release Source: Golden Peaks Resources Ltd. On Tuesday September 28, 2010, 12:56 pm

VANCOUVER, Sept. 28 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL - News; the "Company") reports results from holes CRW-21, CRW-22 and CRW-23 which were drilled on its 100% owned La Fortuna Gold project, Chubut, Argentina.
Holes CRW-21, CRW-22 and CRW-23 were drilled on 100 meter centers to test a possible new zone extension, which would have expanded the G zone ( 800 meters long) by an additional 300 meters. The G zone is at the northwest end of the drill tested 1.8 km long CR structure (44 holes) . The G zone and the area tested by holes CRW-21, 22 and 23 are up to 1 kilometer from the T-11 deposit.
The three holes intersected strong structure, alteration and trace to 20% pyrite mineralization. Hole CRW-21 intersected silver mineralization with weak gold in the upper part of the hole along with two narrower intervals deeper in the hole. Hole CRW-23 intersected anomalous gold and silver over 4 meters. The intersections in holes CRW-21, CRW-22 and CRW-23 occur up to 250 meters from the G zone.
Scott Emerson states " These reconnaissance holes (298.7 meters) had been scheduled for drilling in 2008 but were not completed". "The Company now looks forward to receiving results from the final holes drilled on the T-11 deposit and the exciting CSMAT deep targets, all of which were targets for the 2010 season."
The Company's 2010 drill program on the T-11 zone intersected very significant gold and copper mineralization (News Releases of June 21, 2010, May 19, 2010 & April 14, 2010).

<<

 ____________________________________________________________
|Hole (number sign)|    |From (m)|To (m)|Interval (m)|Gold g/t|Silver g/t|
|______|____|________|______|____________|________|__________|
|CRW-21|    |    6.00| 18.00|       12.00|        |     17.36|
|______|____|________|______|____________|________|__________|
|      |incl|    6.00|  9.00|        3.00|    0.19|     52.30|
|______|____|________|______|____________|________|__________|
|      |incl|   15.00| 18.00|        3.00|        |     13.00|
|______|____|________|______|____________|________|__________|
|      |    |        |      |            |        |          |
|______|____|________|______|____________|________|__________|
|      |    |   71.00| 72.00|        1.00|    3.57|      7.60|
|______|____|________|______|____________|________|__________|
|      |    |        |      |            |        |          |
|______|____|________|______|____________|________|__________|
|      |    |   89.00| 95.00|        6.00|    1.18|      2.30|
|______|____|________|______|____________|________|__________|
|      |    |        |      |            |        |          |
|______|____|________|______|____________|________|__________|
|      |    |        |      |            |        |          |
|______|____|________|______|____________|________|__________|
|CRW-22|    |   26.80| 27.50|        0.70|    0.18|          |
|______|____|________|______|____________|________|__________|
|      |    |        |      |            |        |          |
|______|____|________|______|____________|________|__________|
|      |    |   31.00| 31.90|        0.90|    0.33|          |
|______|____|________|______|____________|________|__________|
|      |    |        |      |            |        |          |
|______|____|________|______|____________|________|__________|
|CRW-23|    |   62.00| 66.00|        4.00|    0.18|      2.97|
|______|____|________|______|____________|________|__________|

>>
         Drill hole data reflect down hole core lengths.  True widths cannot
be reliably estimated at this time.
     All samples were assayed by Alex Stewart (Assayers) Argentina S.A.
     This press release has been reviewed and approved by Dr. Kieran Downes,
P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as
defined by National Instrument 43-101, under whose direction the exploration
programs are being carried out.
     The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and so
involve inherent risks and uncertainties, as disclosed under the heading "Risk
Factors" in the company's periodic filings with Canadian securities
regulators. Actual results could differ from those currently projected. The
Company does not assume the obligation to update any forward-looking
statement.

For further information

<< Media Information, contact: Investor Information, contact: Scott Emerson, Chairman and Mike Kordysz, Investor Communications Director SE@goldenpeaks.com MK@goldenpeaks.com >>

 

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Gemer defends mining as an option for growth for the Plateau Chubut

17/09/2010 | business association reaffirmed its commitment to environmental sustainability / "It is vital to our good understanding, to fully assume a serious debate about the real possibilities of progress that gives our industry, the mining industry, as a real option growth, provided in the context of environmental sustainability and respects the natural and social environment, "said the Group of Mining Companies of Argentina (Gemer) in a statement yesterday in response to" certain allegations against mining in the Central Plateau being undertaken by an external organization to the region. "

In this sense, Gemer considered appropriate "to make some observations that may contribute to a calm and sober assessment of the future of this productive activity."
"We note first, that despite the announcements of the presence of demonstrators identified with a vision of opposition to the development of mining, this move failed to muster the support of local people, and only limited to mobilize from large urban centers to a small number of protesters, "the association said business in his signing statement President, Julio Ríos Gómez, and the delegate in Chubut, Maria Cecilia Astutti.
"Always remember," he added that the Central Plateau region recorded a stagnant or declining population and traditional activities have ensured that do not guarantee a decent standard of living for all people, given that the loss has increased quality of pastures, decreased the flocks of sheep and young people are few options for education and training in various technical and professional activities. "
"We must not fool more people with arguments that, in fact, are completely false, and intended to be generalized to describe a negative to all mining. In the case of the Central Plateau is the specter of shortages of water, consumption of it by the prospecting work, when in fact surveys are providing information about the existence of underground aquifers exist at the date of discovery, which has enhanced the possibilities for its use not only for mining but for all kinds of farming and ranching, "said Gemer.
"With mining and with the seriousness it is working," added the statement "more water and greater opportunities for high-quality agriculture, including export, as is the case of crops of cherries and other products of value to the market domestic and for export. "
Mining entity also considered that "the use of water in the modern mining industry is not competitive with high-quality agriculture, to the contrary, they complement. In modern mining water is used in closed and recycled, which means that does not pollute streams or ground water or leaks or seepage occur. "
Finally, Gemer noted that "this information should be available to all stocks for now is to have a negative impact from an activity such as mining with unsound arguments and do not provide options for economic growth and social improvement of real '.

 

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Heute ist ein guter Tag! Bei Golden Peaks

Mit einem Kursfeuerwerk können drei unserer Topwerte am gestrigen Handelstag in Kanada überzeugen.  Prophecy Resource klettert um neun Prozent nach oben, Sacre-Coeur Minerals macht einen Riesensatz um 22 Prozent und Golden Peaks legt um satte 19 Prozent zu. Schöner kann ein "Morgen danach" nicht sein!

Doch nun langsam, was ist passiert?

Auch Golden Peaks sprang gestern deutlich an, es ging um 19 Prozent nach oben. Bei Golden Peaks gab es keine konkreten Nachrichten. Aber die Meldung zu Sacre-Coeur dürfte auch bei Golden Peaks einen Aufwärtsimpuls ausgelöst haben. Denn das Projekt von Golden Peaks ist dem von Sacre-Coeur nicht ganz unähnlich. Dabei meinen wir nicht die Geologie, die ist unterschiedlich, aber das ganze Drumherum. Mit La Fortuna hat Golden Peaks ein extrem aussichtsreiches Projekt in Argentinien in der Hand. Auch dieses Projekt könnte eines Tages als große zusammenhängende Mine erschlossen werden. Zudem gibt es in der Nachbarschaft einen Multimilliardenkonzern, der, so munkelt man, ab und zu mal bei Golden Peaks vorbeischaut, nämlich Pan American Silver. Pan American Silver hat im letzten Jahr durch die Übernahme von Aquiline Resources ein Minenprojekt gekauft, das nicht weit von La Fortuna entfernt liegt.

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Die hier angebotenen Artikel stellen keine Kauf- bzw. Verkaufsempfehlungen dar, weder explizit noch implizit sind sie als Zusicherung einer bestimmten Kursentwicklung zu verstehen.

Quelle: Autor: Olaf Hordenbach

 

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Research Abstract - GOLDEN PEAKS RESOURCES LTD. (gl.to)

Symbol(s):	GL.TO
Date:	4-Sep-10
Contributor:	Standard & Poor's Quantitative Report
Title:	Golden Peaks Resources
Document Size:	3 pages
Price:	$25
Document Type:	Adobe Acrobat Reader® Download free Adobe Acrobat Reader® Preview: http://reports.finance.yahoo.com/w0?r=46183610:1

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