BLAST FROM THE PAST:worth a read ...fines in arizona..FINE GOLD ...Box ( say special isnt that special...well it is if they can see the GOLD NOW ( So, i'm puting some more cash into this AZ GOLD at a subpeeny What The Heck Boood in the streets and orr happy talk...lets make some cash...I made $s TRADING and some is better than NADA.
SCOTTSDALE, AZ, Nov 08, 2006 (MARKET WIRE via COMTEX) -- Drake Gold Resources,Inc. (PINKSHEETS: DKGR) is pleased to announce an update on the progress of theJackpot Placer Project as the company moves closer to the production stage onits primary project.PREPARATIONS FOR OPERATIONSAs previously released, a Caterpillar D9 and a front-end loader are currently onsite and are ready to be used during full operations. However, authorized underBLM guidelines is the allowance for "maintenance" to be conducted on site priorto receiving approval of permits approving full-scale operations. Drake hasutilized this allowance to begin stockpiling "paydirt" or gold-bearing materialin preparation for processing. To date an on-site worker under the direction ofDan Patch, the land owner of both the Jackpot and Copperstone mines, has beenactively stockpiling paydirt. Currently, more then 3000 cubic yards of paydirthas been stockpiled and is ready for processing.ON-SITE VISITLast week the Drake management made a trip to the Jackpot Placer Project toreview the properties development level, inspect existing equipment, look atformations, take additional samples and meet existing crew on site.Our project manager Norm Pearson and part of his team joined the Drakemanagement team on site and had this to say, "It is a pleasure to make this triponto the 200 acre site in SW Arizona which has turned out to be very exciting.The project is set up to begin a full-scale placer operation in which I canbring my technology and expertise to the operation." Mr. Pearson's "rock box"technology has been used world-wide by over 180 different operations includingmajors such as gold company Placer Dome who seek higher placer results.He continued to say, "Based on the geological report presented by CraigParkinson estimating .10 ounce of gold per cubic yard we are planning to set upa minimum of a 100 cubic yards an hour plant. We want to maximize this projectto full capacity so that the sale of gold may be used to expand other projectsDrake Gold has available."A series of paydirt samples, pictures and video interviews were taken on site.The paydirt samples were taken from various stockpiles on the property to betterevaluate potential levels of gold. With the technology that Mr. Pearson and histeam possess recovering the minutest gold particles is possible, even "flourgold." He was quoted saying, "If you can see it we can recover it with myplant."Mr. Pearson processed some of the paydirt samples through a small processingplant he owns over in Wilcox, AZ last week. About the results he commented, "Thepaydirt has revealed very encouraging amounts of gold in it. We are very eagerto complete the set up of the processing plant and begin to mine the entirearea."JACKPOT PICTURES (Will be updated shortly)http://www.drakegold.com/default.asp?Page=OperationsJackpotGalleryBLM PERMITSLast week management was informed by Craig Parkinson, Drake's hired geologist,that the BLM permits have all been completed and the application has been sentto the state department. The approval process is normally 2-3 weeks but due tothe relationship Dan Patch has with the BLM it is thought that it could becompleted sooner. In addition, because existing work was performed on site yearsago, the reclamation bond is expected to be much lower than expected allowingDrake to incur a lower capital expenditure.Drake Gold's project management team is now preparing a budget and a request foradditional equipment. We are staying focused on our low dilution cash flowdriven model and are reviewing plans to acquire the needed plant. Through Mr.Pearson, Drake has direct access to key equipment he owns from other placersites. Management is also reviewing options to acquire equipment in the mostcost efficient manner and is dealing directly with lenders while evaluatingpossible equipment lease financings to complete the purchases as needed.Current and potential shareholders are encouraged to sign up for e-mail updates.The new Company website provides: short selling issues, current news releases,reports, interviews, industry news and market related information. To sign up,click on the link located under the main menu at www.drakegold.com.ABOUT DRAKE GOLD RESOURCES, INC.Drake Gold Resources, Inc. (DKGR) is an early-stage mining and energy companythat focuses on the exploration and production of precious metals and energy,such as petroleum and coal. Drake Gold has acquired the rights to the JackpotPlacer Project (JPP) in a southwestern section of Arizona. Estimated reserves onthe JPP are 205,000 oz. Operations to recover gold are planned as soon aspossible.DKGR intends to be a diversified company by operating in the natural resource,petroleum, and alternative energy markets. As a result of ever-increasingscarcity, the market for natural resources is clamoring for diversification andinnovative exploration tactics. Potential opportunities for diversificationinclude gold, silver and other minerals in areas such as Arizona, Oregon,Alaska, British Columbia, the Yukon Territories, and other affiliated sectionsthroughout gold districts in Northern Mexico. Drake Oil & Gas division hasprime targets extending from South Texas to the Barnett Shale in Texas, fromCalifornia to Louisiana.This press release contains forward-looking statements involving risks anduncertainties including statements regarding the Company's future performance.Such statements are based on management's current expectations and are subjectto certain factors, risks and uncertainties that may cause actual results,events and performance to differ materially from those referred to or implied bysuch statements. In addition, actual future results may differ materially fromthose anticipated, depending on a variety of factors which include, but are notlimited to, our ability to leverage our technology, manage our growth, protectour intellectual property rights, attract new customers and general economicconditions affecting consumer spending, including uncertainties relating toglobal political conditions, such as terrorism. Readers are cautioned not toplace undue reliance on these forward-looking statements, which speak only as ofthe date hereof. The Company does not intend to update any of theforward-looking statements after the date of this release to conform thesestatements to actual results or to changes in its expectations, except as may berequired by law.Contact:Drake Gold Resources, Inc.Investor Relations Hotline1-888-601-9983Email: Info@NovakCapital.comWebsite: drakegold.comclayton SmithCEOCell: 1-310-728-9445Email: Info@DrakeGold.comCorporate OfficeDrake Gold Resources Inc. (DKGR) |
