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- Richardson
- Shorty Creek
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Overview
In recent years, the price of gold has fluctuated between $525 and $725 per ounce, thus promoting further exploration and development of precious metals, including the support of junior exploration ventures. Accordingly, management is advancing its precious metal opportunities.
Select’s precious metal program consists largely of continued assessment and compilation of the geologic information collected in previous work programs associated with the Richardson and Shorty Creek properties in Alaska. With regard to Richardson and Shorty Creek, Select has:
- undertaken an on-site reconnaissance for carrying out a 2007 field program for both the Richardson and Shorty Creek properties, including resolving access routing issues;
- initiated discussions with a number of parties on the financing of advanced exploration work on both the Richardson and Shorty Creek properties (these discussions are ongoing);
- undertaken annual repair and maintenance activities associated with the Richardson Roadhouse, 65 miles southeast of Fairbanks on the Alaska Richardson Highway, which is owned by us and has been used in the past as a base camp for Richardson related exploration activities.
- undertaken an evaluation of additional Alaska claims held by third parties, adjacent to the Richardson property and other properties in Alaska.
Select is responding to key supply and demand market drivers, including: the limited number of operating mines and development projects due to years of low metal and mineral prices and reduced exploration; the perceived inability of major mining companies to find and develop adequate reserves to replace their production; increased environmental and governmental regulations limiting current producers; the projected long-term global upswing in commodity demand; strong growth in North American demand and explosive growth in the Chinese and Indian markets, and higher than average and sustained metals and mineral prices.
Select is constantly looking for additional properties that will enhance its portfolio and build value for Tri-Valley shareholders. Select also performs domestic and foreign contract exploration for third parties. |
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