Steele Recording Corp., www.steeleresources.com, announced today that reorganization/acquisition of precious metals exploration prodigy, Steele Resources, Inc. (SRI), was successfully completed.
Just five miles southwest of Virginia City, Nevada, on the proven Comstock Lode site, SRI operates the Comstock-Tyler Project as part of its overall agenda to carefully identify and then develop advanced-stage gold and silver assets in the Western US (emphasis on NV).
CEO of SELR, Peter Kristensen, nodded knowingly regarding this strategic move into precious metals exploration and recovery, citing the history and overall mineralization profile (total production to date estimated at 190M oz. silver, 8M oz. gold) of the site as an ideal opportunity to apply the pinnacle of recovery methods and break through to new profit horizons.
Goldspring Inc. drilled 130 holes in the Comstock Lode at its Hartford/Lucerne facility in 2008 that showed some really nice intercepts (NBMG Special Publication MI-2008 ctrl+click for 8 MB pdf):
• Hole 10, 20-400 feet
• 380 feet grading 0.109 opt gold
• Hole 101, 20-365 feet
• 345 feet grading 0.118 opt gold
In conjunction with the Company’s plans to proceed with the development of existing assets, as well as aggressively acquire other gold and silver properties in the US via SRI, SELR has retained mining industry veteran Scott Dockter to oversee exploration development.
SELR is dead set on carving out a lucrative foothold in the reserve space under 2M oz., which is typically ignored by the larger producers; between speculative exploration and large scale production, there is a profitable niche for strategic expansion that will generate organic ROI.
A combination of SELR’s management team of industry veterans, and the overall proven ability to deftly navigate the junior/mid tier mining operation space, makes the Company well-positioned to exploit burgeoning metal markets.