Daulton Capital Corp., a natural resource finance company focused on precious & base metal developments, continues to observe developments in the White Gold District as it prepares for further exploration and sampling.
The White Gold District, which lies within the Tintina Gold Belt (a 200-km-wide, 1,200-km-long arc extending from northern British Columbia into southwest Alaska), has produced 29.9 million ounces of gold. The Tintina Gold Belt includes large proven and probable gold deposits, such as Pogo (3.6 M ozs P & P reserves) and Fort Knox (3.8 M ounces P & P reserves), as well as large amounts of measured and indicated ounces in many other companies.
The Golden Saddle deposit that became Underworld’s White Gold property may have been completely overlooked if not for Shawn Ryan’s persistent efforts. He has worked years and obtained thousands of samples in an area he is now credited with developing. What is now believed to amount to $1.5 billion worth in gold was made from estimates in just two samples. Mr. Ryan, British Columbia’s mineral exploration industry Prospector of the Year, granted the rights to Dalton’s flagship property under terms of an agreement filed earlier this year.
Located in the well recognized, and prolific, Tintina Gold Belt, Daulton Capital’s Balarat Project straddles Balarat Creek, one of the most productive creeks in the Yukon. This claim block is closely located to both the Underworld and Kaminak discoveries, which are now owned by Kinross Gold Corp. (NYSE: KGC) after a takeover valued at about $140 million.
The price of gold rose for the second straight day, surpassing $1,400 per troy ounce as the U.S. Federal Reserve begins its final meeting of 2010. Gold for immediate delivery gained 0.9 percent to $1,407.
“Investment demand for the metal is definitely there,” recently stated Wallace Ng, executive director at ABN Amro Bank NV in Hong Kong.
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