Just found this new write-up !!!...Nice write-up on the Jewel Ridge property just came out on a U.S. site, www.thestockvine.com in Editor's View / by Allan Barry Laboucan / on November 28, 2012 at 11:55 am /
A great place to look for a new mine is in close proximity to a current mine or a past producing mine. At Rainbow Resources’ Jewel Ridge Property, they are next door to Barrick’s Ruby Hill Mine, and on their property are several past producing open-pits and numerous underground workings. They have a well located project, with the right kind of rocks, and have a solid chance to hit with their drilling and impress the market.
Looking for new mines in close proximity to other mines has been successful in the mining business because those areas have the right kinds of rocks. Plus the structures where the rocks have opened over time to allow the mineral rich fluids to form deposits. And most importantly the area has proven to have these events happen historically, in such a fashion that economic ore bodies are present.
Nevada has many mines throughout the state; it is one of the most prolific gold producing regions worldwide. The Jewel Ridge Property is near Eureka, and is located in a mineral rich district, on the southern end of the 100-mile long Battle Mountain-Eureka Trend which hosts a large number of gold and base metal deposits. On the other side of the northern border of the Jewel Ridge Property is Barrick’s multi-million ounce Ruby Hill Mine that produced 130,000 ounces of gold last year. And immediately to the south of the Jewel Ridge Property is Timberline Resources advanced-stage Lookout Mountain deposit (600, 000 ounces of gold and growing). Past producing mines are lined up along a distinct north-south trend that passes through Barrick’s property, through the Jewel Ridge Property, and continues further south to Lookout Mountain.
Their property is well located from a geological perspective, and I’m also interested in following what they are doing because the project is in Nevada. The state is one of the most mining-friendly regions in the world. This is really important to me because it’s hard enough to find a mine; there is no need to add risk to the process by finding one in a country with a lot of political risk.
I’ve had a lot of success finding good projects in Nevada, that make impressive results and I like Rainbow Resources’ chances as does their key technical person.
“This is gold country, no doubt about it,” stated Jim Decker, a long-time mining engineer and Rainbow’s Vice-President, Operations and Technical Services. “And we’re right in the middle of it. Jewel Ridge has past producing open-pits, extensive underground workings, oxidized zones and trenching over a wide area, not to mention strong historical drill results like 2.1 g/t Au over 39.6 metres (151 feet of .06 oz/ton). This is beyond early stage, and we have great neighbors in a mining-friendly jurisdiction.”
I’m also very bullish on gold going forward, and feel that gold stocks are significantly undervalued, especially the exploration juniors. Lately, there haven’t been a lot of new discoveries and Rainbow Resources is well positioned based at their location, have past production on their ground, and recent work at their project that gives them a very good chance to have good results with their drilling.
They are currently drilling, and I’m looking forward to seeing the results from this drilling. If they hit with their drilling they will likely catch the attention of a lot of investors focused on gold stocks.
A good place to do your homework on Rainbow Resources is on their website at www.rainbowresourcesinc.com.