Staking rush ...VLC or PEM ??Full Disclosure,
I am a shareholder in BOTH companies... There is still some question regarding the staking of claims on the southern end of the Premium Friday Petsite Discovery... (Idaho) Premium and Velocity have both issued NR's stating they have staked what appears to be the same land down there... Premium has released a map that shows "Project X" which is right where VLC's claims are posted... ?????? I am very long on Premium, and bought into VLC because of there NR as I feel that the southern section of the trend is the most promising...
I have been waiting for a reply from BOTH companies regarding the claims question... I only received a reply from Jeremy at VLC who said it was all being sorted out and should be over soon... I have a suspicion that there is some sort of partnership between the two companies. I guess we will soon find out.
The following is an interesting article about the southern portion of the trend and VLC's staking of it...
Should prove to be an interesting week ahead...
Cussy, the Windsurfer:)
...taking a claim with actual stakes felt old-fashioned to Yaseniuk because in British Columbia claims are staked online. Under federal law dating back to 1872, the 19 U.S. states that allow claim-staking still require that actual stakes be planted in the ground. Idaho state regulations call for a 4-x-4 wooden post because PVC pipe breaks into shards, but nobody goes out and checks the claims, McClure said.
"We have people who blaze trees, we have people who put a stake in the ground with a mound of rock around it, and on that little stake they have their location notice," she said. "They can stake it anyway they kind of want to."
FULL ARTICLE :
Subject: As gold prices rise, so do Idaho mining claims
Pub: Idaho Business Review
Author: Anne Wallace Allen
Category:
Sub-Category:
Issue Date: 10/04/2010
As gold prices rise, so do Idaho mining claims
by Anne Wallace Allen
Dolan Media Newswires
BOISE, ID -- For Canadian geologist Gerry Diakow, staking gold mining claims in Idaho last month felt like a scene from an old Western.
Diakow, a co-founder of Velocity Minerals Ltd., flew into Boise on Sept. 10, rounded up some surveyors, and headed up to Orofino County to stake 60 claims on about 1,240 acres in the Orogrande Mining Division, an area known for yielding up gold in the past.
"We wanted to do this quietly and very quickly," said Jeremy Yaseniuk, a co-founder of the Vancouver, B.C., company. Diakow helped put PVC posts in the ground and write the number of the claim on them. "It was like something out of a western movie. This is old-fashioned style staking."
Rising metal prices have caused a jump in mining claims in Idaho. In the past fiscal year, which ended Sept. 30, 2,335 claims were filed, said Lynn McClure, a land law examiner at the Bureau of Land Management in Boise. The state now has 18,491 active claims. Four or five years ago, there were just 12,000 active claims, McClure said.
It's not clear what all those miners are looking for, because they don't have to register that information with the state.
But in Yaseniuk's case, it's gold. His company chose an area that surrounds the Homestake Mine, southeast of Grangeville. At least ten gold mines were in production from the late 1890s to the late 1930s, according to National Gold Inc., the Delaware company that owns the claims to the Homestake Mine now. Velocity is working with Premium Exploration, Inc., which has a drilling program under way just a few miles from Velocity's claims.
"Velocity Minerals believes Premium exploration is not just developing out a small gold prospect here," Yaseniuk said. "We think what they have come across is something very similar to what the Carlin trench started off as Nevada: high-grade deposits."
Premium has staked claims to almost 20 square miles of land, he said. The company plans to start drilling in the spring.
Velocity Minerals, which trades on the Toronto Stock Exchange, has mining properties in British Columbia and is looking for other mining prospects in North America, Yaseniuk said.
Staking a claim with actual stakes felt old-fashioned to Yaseniuk because in British Columbia claims are staked online. Under federal law dating back to 1872, the 19 U.S. states that allow claim-staking still require that actual stakes be planted in the ground. Idaho state regulations call for a 4-x-4 wooden post because PVC pipe breaks into shards, but nobody goes out and checks the claims, McClure said.
"We have people who blaze trees, we have people who put a stake in the ground with a mound of rock around it, and on that little stake they have their location notice," she said. "They can stake it anyway they kind of want to."
"It's like the old wild West," Yaseniuk said. "You stake your claims and go into the BLM office and file them there."
Or the new wild West. McClure noted that would-be miners can also buy claims on eBay or Craigslist.
"It's buyer beware as to whether or not this is something that's actually worthwhile having," she said.