RE: AGM? WHY YOU WILL GET RICH HERE AUGEN GOLD CORP will be a highly explosive , rich reward for shareholders of AUG. First portion describes Jerome. Suggest this to be must read for anyone that loves hidden gems. AUGEN management are leading AGC from here and they own the majority of the trend. Yum ! I purchased my final shares today and have maxed out my position unless some other ships come in. Only so much capital.
This has real potential and news should be out soon about plans for taking AGC public. Market is going to love this trend play. Senior AUG staffers are managing AGC juts like they did for EFR.
No one follows this yet in Canada. Interest is coming from Europe but will expand. I have a large position in AUG (well at least for me). Buy buy buy ! Love hidden assets.
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Osprey Gold Corp. EXTRACT FROM GOOGLE SEARCH
Properties: Jerome
The main focus of Osprey Gold Corp’s extensive land package in the Swayze Greenstone Belt of Ontario is the Jerome Mine. The mine is located in Osway and Huffman Townships, Porcupine Mining Division, District of Sudbury in Ontario. The Jerome Mine produced an estimated 56,878 oz of gold (Au) and 15,104 oz of silver (Ag) for the Mining Corporation of Canada during a two year period of production, which was suddenly aborted in 1943 because of manpower reduction due to the war effort. The mine was never reopened due to the difficulty in obtaining financing during and immediately following WWII. A fire in the area destroyed most of the mine records, including the loss of inter-level assay results, which had an impact on the classification of identified ore. Ore reserves (J,E, Millard, 1989, Muscocho Exploration) indicate that there are a total of 577,495 tons of ore (all categories) at a grade of 0.200 oz Au/ton or 115,713 oz Au (at a cut-off of 0.115 oz and undiluted). A 43-101 recently prepared by Frank P. Puskas (August 2004), states the current ore reserve as 583,068 tons of ore at a grade of 0.203 oz Au/ton (i.e. 118,362 oz Au and 31,958 oz Ag) down to the 800 foot level.
During the fall of 2003, Osprey Gold Corp purchased 63 patented mining claims containing the Jerome Mine. The area claims form an east-west trending rectangular block approximately 3.5 miles in length. Previous property owners completed over 250,000 feet of diamond drilling, also completed a three-compartment vertical shaft from surface to a depth of 1,100 feet, completed over 11,000 feet of lateral drifts (tunnels), and completed numerous geophysical and trenching programs. In addition to the 63 patented mining claims mentioned above, the Company acquired 4 unpatented mining claims in Huffman and Potier Townships, Porcupine Mining Division, Ontario, that cover an area of approximately 1,600 acres across the porphyry structure. These claims were previously identified by Frank P. Puskas as having commercial values of gold, silver and copper. No major work has been undertaken on these claims as a result of the previous owners not having the proper financing. It should be noted that following additional staking in Osway Township and the immediately adjacent Townships of Huffman, Potier, Arbutus, Mallard, Esther and Benton, the Company has extended the strike length of its holdings to an east-west rectangular block of 21 miles in length.
A multi-stage exploration and drilling program is currently underway in order to confirm inter-level continuity east of the existing shaft, and thereby upgrade the classification of ore to the status of proven. In September 2004, Phase 1 of the Jerome Mine drilling program (19 diamond drilling holes; 10,000 ft.) was completed and confirmed the existence of 86,269 oz Au in the Main N Zone from the 100-ft level to the 700-ft level. Phase 2 (Oct. 2004-Dec. 2004) will involve an additional 30,000 ft of diamond drilling as well as reserve assessments. Phase 3 is expected to commence in January 2005.
Infrastructure
• A gravel road provides year round access to the Jerome Mine road and the Osprey Field Headquarters.
• An airstrip is in place approximately 0.5 km NE of Osprey’s Field Headquarters.
• Rail transport in close proximity.
• Permanent mining camp, which can accommodate up to 120 people has been acquired and is operating.
• Existing three-phase power generation on site.
Maps & Images
To view and print maps & images relating to the Jerome Property, please visit: https://www.ospreygold.com/props_jerome.html.