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South American Gold Exploration

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 South American Gold Exploration
Unread 3 years agoclass of '04 - away - #21
Vagnum  space
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we closed 40%+ for the week.
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Unread 3 years agoclass of '04 - away - #22
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SAGD holds up in the 0.006$ for the area for the 3rd day.


Last edited by Vagnum; 11-12-2012 at 11:27 AM..
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Unread 3 years agoclass of '04 - away - #23
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holding update. have 320'000 shares now.


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Unread 3 years agoclass of '04 - away - #24
Vagnum  space
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bumping
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Unread 3 years agoclass of '05 - away - #25
Demboyz746  space
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see the stock for this company is selling for 0.004 cent.. Meaning a person could be 10,000 shares for just under 40$ dollars.. Your company is offering it like that?
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Unread 3 years agoclass of '04 - away - #26
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Demboyz746 said:
see the stock for this company is selling for 0.004 cent.. Meaning a person could be 10,000 shares for just under 40$ dollars.. Your company is offering it like that?
yes, ey still better than lotto if you look at the track record of our CEO.

The company is priced like a shell because its in the exploration stage and hasnt found gold yet. we recently bought a former producing silver mine, the baltimore mine. I believe things will get exciting with this mine as soon as next year.
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Unread 3 years agoclass of '04 - away - #27
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Unread 2 years agoclass of '04 - away - #28
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bumping
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Unread 2 years agoclass of '05 - away - #29
KruptedWayz 12 heat pts12 space
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gonna buy some tomorrow, it's a lotto but you never know.....
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Unread 2 years agoclass of '11 - away - #30
253xLonghair3 7 heat pts space
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how do u buy the stocks?
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Unread 2 years agoclass of '05 - away - #31
nuji  space
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any updates vagnum?

Last edited by nuji; 02-02-2013 at 12:32 AM..
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Unread 2 years agoclass of '08 - away - #32
tdnupe3 5 heat pts space
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These companies do reverse splits once the stock begins to hit prices like .10 correct? I'm not saying it like it's a bad thing, I'm just curious.
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Unread 2 years agoclass of '04 - away - #33
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Sagd

tdnupe3 said:
These companies do reverse splits once the stock begins to hit prices like .10 correct? I'm not saying it like it's a bad thing, I'm just curious.
sure but there is no need for a reverse split here. when you look at the sharestructure of the company you see that there are 89million shares outstanding (wich is not much) and 450Million authorized. why to do a rs? :)
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Unread 2 years agoclass of '04 - away - #34
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News!

New Light Mine Property

On January 16, 2013, South American Gold Corp. (“the Company”) entered into a Mining and Lease Agreement (“the Mining and Lease Agreement’) with William I. Guy (“Lessor”). The Mining and Lease gives the Company the exclusive right to prospect and explore for all ores and minerals of every kind, except oil and gas, on two unpatented mining claims in Whatcom County, Washington.

The Mining and Lease Agreement has a term of 15 years from January 16, 2013 (“the Anniversary Date”) but may be extended indefinitely if production is occurring. The Mining and Lease Agreement and requires that the Company pay advance royalties as set forth below:

Amount of Royalty Payment

Due Date
$500
1/15/13
$750
Anniversary Date, 2014
$750
Anniversary Date, 2014-2029, inclusive

In addition, the Company shall pay a Production Royalty of 2% of net smelter returns, which shall be calculated for each calendar quarter in which net smelter returns are realized.

During the term of this lease the Company will be responsible for the payment of any property taxes, indemnify Lessor for any and all activities the Company conducts on the property, and secure all required permits and operating licenses for Company activities on the property.

The foregoing description of the Mining and Lease Agreement does not purport to be complete and is qualified in its entirety by reference to the Mining and Lease Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Description of the Property

Land Status

Effective January 22, 2012 the Company leased from a private party two unpatented claims covering a significant portion of the former New Light Mine. The lease covers:

BLM recording numbers OMC 169670 and 169671
County recording numbers 2121100607 and 2121100608

Location

The property is situated in the Slate Creek Mining District, Section 27, T38N, R17E, in Whatcom County, Washington.

We have not finished detailed mapping on the property.


[pic - click to view]




[pic - click to view]



Access and Elevation

The elevation of the New Light property area ranges from 5300 to 6900 feet

The Slate Creek Mining District is approximately 16 miles west of Mazama. From Mazama on SR 20, proceed northwest past the Lost River Resort Airport to USFS road 5400, which climbs approximately 6 miles to Harts Pass; it then proceeds downgrade on Slate Creek Road approximately 2.4 miles to the intersection with a road following Benson Creek northerly past a locked gate. The SR 20 road may be closed in winter due to weather conditions.

Climate and Physiography

Heavy snowfall can often preclude exploration work on the property.

Local Resources

There are sufficient local resources for general material and supplies, and general labor. Electric power lines are within a mile of the property and water supply appears adequate for the property, though an a.ssessment will be required for water supply for expanded drilling programs, future potential milling requirements, and to meet environmental requirements.

Regional Geology

Rocks in the vicinity of the New Light mine are argillite, quartzite, conglomerate, and shale of the Earl Cretaceous Harts Pass Formation The ore was reported localized in quartz shear zones up to 5 feet wide and in a quartz-cemented breccia pipe approximately 200 feet by 100 feet wide and 3000 feet long. The breccia is offset by a major east-northeast-trending fault and several minor faults that cause considerable difficulty in tracing its continuity underground and on the surface. Contact metamorphism attributed to a diorite stock on the mine site recrystallized sandstones and shales to a hornfels-like material and played a role in formation of the breccia pipe. The breccia contains sharply angular fragments of quartzite and hornfels in the range of 1 to 4 inches long. These fragments make up about 80 percent of the rock mass; the remainder is composed of quartz-cemented veinlets 0.5 to 1 inch thick. The quartz cementation contains argentite, chalcopyrite, pyrite, galena, and free gold.

The state of Washington report indicates extensive sampling of the breccias by prior operators gave indications of gold and silver, and analysis of mill concentrate samples showed finely divided sooty grains of platinum. This information is included as historical in nature and which the company has not been verified through sampling and a.ssays by the company.

Metallurgy

Flotation concentrates were reported shipped to the Cominco Ltd. smelter at Trail, B.C., and free gold was sent to Vancouver, B.C. It has been reported that a grab sample taken from the tailings exceeded maximum levels listed in the Model Toxics Control Act; hence additional metallurgical tests will be necessary to determine whether potential compliance issues may exist.

The Company has not conducted metallurgical tests and there are no estimates of percentage recoveries in from prior production.


Permitting

We have not reviewed permitting requirements but the company expects permitting the property may be time-consuming and costly.

Reserves and Mineralized Material

We have not established reserves or mineralized material on the property.


History and Historical Information on the Property

The above and following information has been provided by outside sources and not been independently verified by the company but is provided for general informational purposes, and it should not be a.ssumed that prior production results are an indication of potential future results. The state of Washington has published through its department of geology a report on the mine.

The New Light Mine was a former producing mine from the Slate Creek Mining District. All of the former production in the area occurred on what is now unpatented land administered by the U.S. Forest Service lying within the Wenatchee-Okanogan National Forest, in which the claims we lease are located.

During the years 1895 through 1935 the mine was owned by several mining companies which mined gold, developed 8000 feet of underground workings, and constructed a ten-stamp mill. In 1935 a 50 ton per day mill was constructed at the site, and underground development work had reached 13,150 feet of underground workings. During the period 1942 to 1965 mill capacity was increased to 120 tons per day and diamond drilling was conducted. In the 1980s an avalanche destroyed much of the above-ground infrastructure.

Development Work on the Property

It has been reported that 13,150 feet of underground workings were developed on the property

Exploration Plan

The Company had begun a review of historical material on the property, which will include compiling the information, and reviewing guidance on developing an exploration plan. The exploration plan will include geologic mapping, surveying, review of environmental and permitting requirements, determining manner and cost of access to underground workings, determining whether our area of interest needs to be expanded, and review where available of former production records.


SECTION 3 - SECURITIES AND TRADING MARKETS

Item 3.02 Unregistered Sales of Equity Securities.


In January 2013, the Company issued shares of its restricted common stock in settlement of $79,500 in outstanding liabilities. The Company issued a total of 26,500,000 restricted shares at a price of $0.003 per share, of which 19,833,333 shares were issued to foreign entities. None of the shares were issued to officers and/or directors of the Company.

Last edited by Vagnum; 02-06-2013 at 11:36 AM..
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Unread 2 years agoclass of '04 - away - #35
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so whit this news Ray has bought now 2 former producing mines. we own now "The Baltimore Mine" and The New Light Mine". both look very promissing to me. about the recent acquisition of the New Light Mine, only insiders know about. these news have not been hype promoted yet but people who follow the company and read their SEC fillings know about it. :-)


Last edited by Vagnum; 02-07-2013 at 09:55 AM..
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Unread 2 years agoclass of '07 - away - #36
A-L-P 5 heat pts space
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I can't seem to find a quote for those stocks. Are they still selling?
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Unread 2 years agoclass of '04 - away - #37
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The Stock Symbol is SAGD.
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Unread 2 years agoclass of '05 - away - #38
D-bl0ck  space
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Vagnum said:
The Stock Symbol is SAGD.
I'm really curious about all this...just want to understand more info on this stock and its info....
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Unread 2 years agoclass of '04 - away - #39
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D-bl0ck said:
I'm really curious about all this...just want to understand more info on this stock and its info....
i tried to post the most important things about it in this thread. for more info you might want to check here

or just goolge it...
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Unread 2 years agoclass of '04 - away - #40
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bumping
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