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Bullion banking system 'not fully backed,' Naylor-Leyland tells CNBC Europe
8:45a PT Friday, January 20, 2012
Dear Friend of GATA and Gold:
Cheviot Asset Management's investment director, Ned Naylor-Leyland, was interviewed for 7 minutes the other day on CNBC Europe and noted that the bullion banking system is "not fully backed" -- that is, that it is selling promises of gold it doesn't have. The interview is posted at the Cheviot Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Be Part of a Chance to Discover
Multi-Million-Ounce Gold and Silver Deposits in Canada
Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada.
Check out the exploration program on our Allco gold/silver project :
-- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit.
-- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries.
-- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited.
To learn more about the Allco property or Northaven's other gold and silver projects, please visit:
Or call Northaven CEO Allen Leschert at 604-696-3600.
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Vancouver Resource Investment Conference
Sunday-Monday, January 22-23, 2012
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
California Investment Conference
Saturday-Sunday, February 11-12, 2012
Hyatt Grand Champions Resort
Indian Wells, California, USA
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Golden Phoenix Receives Inferred Gold Resource Estimate
For Santa Rosa Mine in Panama: 669,000 Oz. Gold, 2.1 Million Oz. Silver
Company Press Release
January 3, 2012
Golden Phoenix Minerals Inc. (OTC: GPXM) reports that on behalf of Golden Phoenix Panama S.A., the joint venture entity that owns and operates the Santa Rosa gold mine in Panama, it has received from SRK Consulting (U.S.) an initial resource estimate for Mina Santa Rosa.
The Santa Rosa project is a volcanic-hosted epithermal gold-silver deposit previously operated as an open pit-heap leach operation. Production ceased in 1999 in part because of low gold prices.
SRK Consulting reports an in-situ inferred resource at the former Santa Rosa and ADLM pits totaling 23.1 million metric tonnes at 0.90 grams/tonne gold, for a contained 669,000 ounces of gold at a 0.30 g/t gold cutoff. The resource also contains an average grade of 2.87 g/t silver for a contained 2.1 million ounces of silver.
John Bolanos, Golden Phoenix's vice president of exploration, remarks: "In addition to SRK's inferred resource estimate of 669,000 contained ounces of
gold, the Santa Rosa project has an additional unspecified volume of mineralized material on former heap leach pads throughout the property. We expect to begin assessing this additional material in the near future."
For the company's full statement, including a table detailing the resources at Santa Rose, please visit: