Gold American Mining Corp. (SILA.OB) is a precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential.
Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.
SILA recently reported 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.
Furthermore, Gold American has signed an option agreement to acquire a 100% interest in the high-grade silver-gold La Escondida Project located in Sonora State, Mexico.
The La Escondida property is comprised of two mineral concessions that cover 439.8 acres approximately 124 miles northeast of the city of Hermosillo in Sonora State, Mexico. The surrounding region has seen significant recent activity by foreign mining companies.
Nineteen miles to the northeast of the property is NYSE-listed Yamana Gold Inc.�s Mercedes project, a development stage gold-silver project expected to start production at a rate of approximately 120,000 gold equivalent ounces per year from 2012.
Eighteen miles to the north of SILA�s La Escondida project is the Oroco Resources Corp.�s Cerro Prieto project, which recently reported 383,833 ounces gold and over 6 million ounces of silver reserves.
The La Escondida property is host to two distinct mineralized targets associated with a fault: a bulk tonnage-style gold-silver-lead disseminated area and a high-grade epithermal vein-hosted silver and gold area.
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