Recent

% | $
Quotes you view appear here for quick access.

TRİ-VALLEY AO Message Board

  • edwarddpeters edwarddpeters Nov 4, 2011 10:32 AM Flag

    Richardson Update!!!!

    UXG released this today:

    Alaska

    On July 1, 2011, our company and Select Resources Corporation, Inc. ("Select") signed a four-year Exploration Lease and Purchase Option Definitive Agreement (the "Definitive Agreement") with respect to the Richardson Mineral Project ("Richardson") in the Tintina Gold Belt of Alaska. Under the terms of the Definitive Agreement, we will acquire an exploration lease for Richardson, and an exclusive option to purchase a 60% interest in the project and enter into a joint venture with Select. Our option would vest upon completion of $5 million in exploration expenditures and 30,000 feet of core drilling during the term of the Definitive Agreement. We may terminate the agreement after completing $2.2 million in exploration expenditures and performing 15,000 feet of core drilling, which is required during the first two years. Should we terminate the Definitive Agreement, Select will retain a



    --------------------------------------------------------------------------------


    Table of Contents
    100% interest in Richardson. Select received a $200,000 option payment from us upon execution of the Definitive Agreement, and is entitled to $100,000 on each anniversary of the Definitive Agreement. The Richardson project is located 70 miles (115 kilometers) southeast of Fairbanks, Alaska, and covers an area of approximately 52 square miles (136 square km). The property is immediately north of an all-weather paved highway that connects Fairbanks with the port of Valdez and Yukon, Canada. Numerous seasonal gravel roads access the southern and central part of the project. Industrial-scale public power facilities traverse the southern portion of the land package. The property is moderately hilly and consists of sub-Arctic forest of black spruce, white spruce, birch and aspen. Elevations range from approximately 1,000 ft (300 meters) to 3,000 ft (900 meters). Historically, the Richardson District has been a producer of placer gold (est. since 1905) with some small lode gold production. Virtually all of the lode exploration has been conducted by or on behalf of Select between 1987 and 2005. Our focus is on discovering a new major intrusive-related gold system. It is believed that the Richardson project hosts at least three distinctly different types of intrusive-related gold systems. Extensive field sampling and mapping, airborne geophysics, and three core holes were completed in the second and third quarter of 2011. The field program was suspended in early October 2011 due to the onset of winter, and is expected to resume in May 2012. Further core drilling is planned at that time. Results from the three completed core holes have not been received from the assay laboratory.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • jack_wagners_younger_brother jack_wagners_younger_brother Nov 12, 2011 11:32 PM Flag

      Select Resources Corporation, Inc. (“Select”) — holds and maintains our precious metals business. Select holds and develops two major mineral assets in the State of Alaska.

    • The Company's two wholly-owned subsidiaries are:



      Tri-Valley Oil & Gas Co. (“TVOG”) — conducts our hydrocarbon (crude oil and natural gas) business. TVOG derives most of its principal revenue from crude oil and natural gas production.



      Select Resources Corporation, Inc. (“Select”) — holds and maintains our precious metals business. Select holds and develops two major mineral assets in the State of Alaska.

      Effective for the first quarter of 2011, Tri-Valley's businesses were consolidated into two operating segments:

      -

      Oil and Gas Operations — This segment represents our oil and gas business. This segment generated virtually all of the Company’s revenues from operations during the first three months of 2011. During the first quarter of 2011, management determined that our Rig Operations and Drilling and Development segments were no longer consistent with the Company’s long-term strategic objectives, namely, to increase the value of our petroleum and mineral assets for our shareholders, and consolidated all assets from those two operating segments into the Oil and Gas Operations segment.

      -

      Minerals — This segment represents our precious metal mineral prospects. In the past, it has generated revenues from pilot-scale mining projects and subcontracting exploration and business development projects. This segment holds title to land or leases in the State of Alaska.

      • 1 Reply to geos_many_alaises
      • jack_wagners_younger_brother jack_wagners_younger_brother Nov 14, 2011 9:52 PM Flag

        Alaska

        On July 1, 2011, our company and Select Resources Corporation, Inc. ("Select") signed a four-year Exploration Lease and Purchase Option Definitive Agreement (the "Definitive Agreement") with respect to the Richardson Mineral Project ("Richardson") in the Tintina Gold Belt of Alaska. Under the terms of the Definitive Agreement, we will acquire an exploration lease for Richardson, and an exclusive option to purchase a 60% interest in the project and enter into a joint venture with Select. Our option would vest upon completion of $5 million in exploration expenditures and 30,000 feet of core drilling during the term of the Definitive Agreement. We may terminate the agreement after completing $2.2 million in exploration expenditures and performing 15,000 feet of core drilling, which is required during the first two years. Should we terminate the Definitive Agreement, Select will retain a 100% interest in Richardson. Select received a $200,000 option payment from us upon execution of the Definitive Agreement, and is entitled to $100,000 on each anniversary of the Definitive Agreement. The Richardson project is located 70 miles (115 kilometers) southeast of Fairbanks, Alaska, and covers an area of approximately 52 square miles (136 square km). The property is immediately north of an all-weather paved highway that connects Fairbanks with the port of Valdez and Yukon, Canada. Numerous seasonal gravel roads access the southern and central part of the project. Industrial-scale public power facilities traverse the southern portion of the land package. The property is moderately hilly and consists of sub-Arctic forest of black spruce, white spruce, birch and aspen. Elevations range from approximately 1,000 ft (300 meters) to 3,000 ft (900 meters). Historically, the Richardson District has been a producer of placer gold (est. since 1905) with some small lode gold production. Virtually all of the lode exploration has been conducted by or on behalf of Select between 1987 and 2005. Our focus is on discovering a new major intrusive-related gold system. It is believed that the Richardson project hosts at least three distinctly different types of intrusive-related gold systems. Extensive field sampling and mapping, airborne geophysics, and three core holes were completed in the second and third quarter of 2011. The field program was suspended in early October 2011 due to the onset of winter, and is expected to resume in May 2012. Further core drilling is planned at that time. Results from the three completed core holes have not been received from the assay laboratory.

    • jack_wagners_younger_brother jack_wagners_younger_brother Nov 11, 2011 9:32 AM Flag

      Further core drilling is planned at that time

    • jack_wagners_younger_brother jack_wagners_younger_brother Nov 9, 2011 10:13 PM Flag

      Should we terminate the Definitive Agreement, Select will retain a 100% interest in Richardson

    • jack_wagners_younger_brother jack_wagners_younger_brother Nov 8, 2011 10:54 PM Flag

      ^bump

    • jack_wagners_younger_brother jack_wagners_younger_brother Nov 7, 2011 8:58 PM Flag

      Results from the three completed core holes have not been received from the assay laboratory.

    • "There's a natural resource boom about to be ignited in Alaska."

      State officials hope that, eventually, Alaska and its miles of untouched land will provide the United States with everything from rare earths to copper and gold.

      "They've had a lot of oil revenue and now they're looking to add other natural resources," said rare earth industry expert Jack Lifton. "There's a natural resource boom about to be ignited in Alaska."

      While having a secure, domestic supply of the metals is important, the focus for Lifton is on breaking Western countries' dependency on Chinese rare earths and their ever-soaring export prices.

      In early 2010, cerium oxide cost about $5.50 a kilogram. By August this year it was worth $130, though the price has since slipped back to around $70, according to Asian Metal. Dysprosium went from about $200 per kg to $2,500, before easing to around $1,565.

      "Right now, the issue is we've got to bring the total spectrum of rare earths into production in the West," Lifton said. "I am very confident that something major will happen in Alaska in the next twelve months in the way of rare earth mining." (

    • jack_wagners_younger_brother jack_wagners_younger_brother Nov 4, 2011 9:34 PM Flag

      Further core drilling is planned at that time

    • waiting richarson new s nextweek

    • REAL NEWS BEING BURIED BY GEO-IBBERISH!

    • View More Messages
 
TVLYQ
0.00(0.00%)