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Gabelli Gold's Bryan expects another leg higher in King World News interview
10:30p ET Tuesday, February 7, 2012
Dear Friend of GATA and Gold:
Gabelli Gold Fund manager Caesar Bryan tells King World News tonight that the physical gold market is strong even as the paper gold market is weak. "I think this is the quiet time before more central bank action," Bryan says. "We are in the eye of the storm and the storm is still raging. Gold has broken out of the downtrend and we expect money printing to light the fire of the next leg higher in gold." An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Golden Phoenix Receives Inferred Gold Resource Estimate
For Santa Rosa Mine in Panama: 669,000 Oz. Gold, 2.1 Million Oz. Silver
Company Press Release
January 3, 2012
Golden Phoenix Minerals Inc. (OTC: GPXM) reports that on behalf of Golden Phoenix Panama S.A., the joint venture entity that owns and operates the Santa Rosa gold mine in Panama, it has received from SRK Consulting (U.S.) an initial resource estimate for Mina Santa Rosa.
The Santa Rosa project is a volcanic-hosted epithermal gold-silver deposit previously operated as an open pit-heap leach operation. Production ceased in 1999 in part because of low gold prices.
SRK Consulting reports an in-situ inferred resource at the former Santa Rosa and ADLM pits totaling 23.1 million metric tonnes at 0.90 grams/tonne gold, for a contained 669,000 ounces of gold at a 0.30 g/t gold cutoff. The resource also contains an average grade of 2.87 g/t silver for a contained 2.1 million ounces of silver.
John Bolanos, Golden Phoenix's vice president of exploration, remarks: "In addition to SRK's inferred resource estimate of 669,000 contained ounces of
gold, the Santa Rosa project has an additional unspecified volume of mineralized material on former heap leach pads throughout the property. We expect to begin assessing this additional material in the near future."
For the company's full statement, including a table detailing the resources at Santa Rose, please visit:
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