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Winston-Salem, NC, United States, 2010/05/10 - SmallCapReview a leading site for news and information on small caps, penny stocks and microcaps is adding Silver America (OTCBB: SILA) to its list of stocks "On the Radar".
Silver America is a precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich silver and gold production potentialThe company primarily explores for silver and gold deposits. Its properties include Keeno Strike project, which is located in the Clark county, Nevada; and Guadalupe project that is located in Zacatecas State, Mexico.
SILA Investor Highlights
Announced the Company's acquisition of the Guadalupe Property silver and gold project in Zacatecas State, Mexico.
The property contains two historic mines and is located in one of Mexico 's oldest mining districts, roughly 5 miles north of the Fresnillo Mine, the world's richest underground silver mine. A chip channel sample taken from one face of the workings on Silver America's 698.91-acre property returned 3.32 g/t gold and 342.0 g/t silver across 1.5 meters of vein.
The Guadalupe Property is currently processing 3 to 4 tonnes of ore per day from one of five known veins on the property at a depth of only 30 meters, and this is expected to continue until the Company has completed the purchase of the property at a maximum of 1,500 tonnes per year (~4 tonnes per day).
Mexico is currently the world's second leading producer of silver, with an estimated 3,240 metric tons of production in 2008, and the country with the world's fourth largest silver reserves at 37,000 metric tons according to the US Geological Survey (USGS).
Announced the Company's acquisition of the Keeno Strike Property silver and gold project in Clark County, Nevada. The project's exploratory work program will test ~1.1 million ounces of gold and ~69.0 million ounces of silver potential, which would be accessible via open-pit bulk handling methods unavailable to the industry at the time these properties were initially developed.
Among the many mines in the Goodsprings district that historically produced ore is the Yellow Pine mine some seven miles northwest of Silver America's property, which contained over 1.4 million ounces silver to make up two thirds of the entire district's silver production.
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