from Kerry Lutz's Financial Survival Network

American Eagle Gold’s CEO Tony Moreau and Exploration VP Mark Bradley were here to give a sponsor update. First, their drill permit application was just approved by the BLM. This sets the stage for drilling to commence shortly at their Goldengate project in Nevada. The property is adjacent to Nevada Gold’s Goldrush and Cortez Mines. These are prodigious mines, having produced millions of ounces since coming on stream. Tony and Mark are extremely upbeat about Goldengate’s prospectivity.

Mark was at the helm of the team that discovered and defined Goldrush and has spent the better part of 30 years working on the Cortez Trend. Few people can match his knowledge and experience there. Technology has come a long way since early 2000’s when Mark was working on Goldrush. CSAMT, stratigraphy, and 2D seismology either didn’t exist or were in their infancy. While looking for the yellow metal is always a gamble, the ability to see into the ground and analyze underlying structures and intrusions to select drill targets helps make the task much easier and more accurate.

Mark has identified the most promising target zones and now it’s just a matter of getting the drill turning. While competent experienced crews are at a premium, Tony is confident that they can get the needed equipment and staff to insure that the current drill program will succeed.

If the old saw that the best place to find gold is close where it’s already been found, then American Eagle could be sitting on a major discovery. And if the best person to make that major discovery is the one who’s done it before, then he’ll be well served by Mark. (Full Disclosure: We own shares in the company).

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