Gold American Mining Corp. (OTC.BB:SILA) is is reporting additional positive results from its Guadalupe property, located in the heart of the Fresnillo district, Zacatecas, Mexico.
Fieldwork continues to identify additional veins within the property — as such several veins remain without names. To date nine veins have been mapped within the Guadalupe property. In certain locations the width of sampling was limited by the size of the workings and as such the true width of mineralization remains unknown.
The Guadalupe property contains two historically significant mines and is located in one of Mexico’s oldest mining districts, roughly 5 miles north of the Fresnillo (Proa�o) Mine, the world’s richest underground silver mine, operated by Fresnillo plc. Roughly 6.8 miles to the southwest of Silver America’s Guadalupe Property is the Juanicipio Joint Venture (JV) between MAG Silver Corp. (MAG) and Fresnillo plc, which is known as one of the world’s highest grade undeveloped silver resources.
The Property contains greater than 20 known workings as well as two historic mines — Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980s. The property is completely surrounded by land controlled by Pe�oles (either through Fresnillo or other subsidiaries and partners).
Gold American Mining Corp. is a publicly traded precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.
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