Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (5687)	6/12/2014 11:42:33 AM
From: Goose94	Read Replies (1) \| Respond to of 202936

Soltoro (SOL-V) June 12, '14 has received the second anniversary payment of $150,000 (U.S.) from Gold Reserve Inc., which holds the right to earn an undivided 51-per-cent interest in Soltoro's 100-per-cent-owned La Tortuga property located in Jalisco state, Mexico. Soltoro granted a 45-day extension to Gold Reserve to make the payment which was originally due on April 26, 2014. Gold Reserve has entered the third year of exploration at La Tortuga. To date Gold Reserve has conducted ground-based mapping, sampling, geochemical studies, upgraded roughly 22 km of access roads and completed an airborne geophysical survey at La Tortuga. Gold Reserve has also initiated environmental baseline and social impact studies, which forms the basis of a comprehensive social impact and mitigation plan for any future development. Gold Reserve is in the process of revising its drill permit application in order to carry out a 7,000 to 12,000 metre drill program. The La Tortuga Property is an 11,562 hectare property being investigated for its base and precious metal potential with occurrences of copper and gold mineralization over 49 square kilometers. Potential targets include iron-oxide-copper-gold, porphyry copper and epithermal gold and/or base metal veins. Previous work includes 151 line-kilometers of induced polarization, 20 drill holes (both core and reverse circulation), geological mapping and sampling (approximately 1,000 soil, rock chip and stream sediment samples) and a ground magnetic survey. The Option Agreement allows Gold Reserve to acquire an undivided 51% interest by making an aggregate US$650,000 in option payments to Soltoro and by making US$3 million in expenditures on the property over 3 years. Gold Reserve has made $425,000 in option payments to Soltoro to date. At completion of the earn-in a joint venture agreement will be formalized. Upon exercise of the option, Gold Reserve may acquire an additional 9% for US$2,000,000.