January 1966
As the prospecting and mine-opening campaign of the last decade draws slowly to a close, the elephant in the room has yet to be addressed. Across Mongolia, the significantly large nomad population, mostly collectivised and under nominal party control, engages in artisanal, small-scale subsistence mining.
The wildiness of Mongolia is vast, filled with caves and quarries that only those roaming the land know of. In summer seasons, a small percentage of nomads engage in mining here to sell or trade with their comrades, or smith their own primitive tools. For obvious reasons, this aspect of living must be brought into the collective.
Thus, a law has been passed in parliament, with the following prerogatives:
- Members of nomadic and agricultural collectives are permitted to engage in artisanal mining in territory that is not of current interest to the Ministry of Mining, and does not interfere with national defence, commerce, etc.
- All finds must be reported publicly to the collective party official.
- Party officials will relay all significant finds to the Ministry of Mining for further investigation.
- Any person hiding finds or ore will receive fines, public humilation, or internal exile.
It is hoped that this leniancy will permit the Mongolian herdsmen to maintain their way of life, whilst also permitting the government to maximise control and economic prosperity for all.
[Post 6 of 7 of Prospect 50% of the Country for Oil & Minerals]
TSX-V: LORD
St. James Gold Corp is really exciting right now, they’re an exploration stage company, and they focus on acquisition, exploration, and development of mineral resource properties in Canada.
They recently announced a brokered private placement through Canaccord Genuity, originally for $4 million it was upsized to $5.5 million because of investor demand.
They’ll use that money to drill on the Florin Gold Project and conduct exploration on the company’s Newfoundland projects. St. James also has the option to acquire 100% interest in 29 different claims covering 1,791 acres in north-central Newfoundland as well as another option to acquire 100% interest in 28 claims covering 1,730 acres, further south in central Newfoundland. On top of that they have another option where they can acquire 85% interest in the historical Tintina gold belt in Yukon, an area covering almost 22,000 acres.
They also just announced that they’re launching a campaign to expand on the 2.47 million oz gold inferred resource at their Florin Gold Project in the Yukon. So far they’ve drilled 1,275m in seven holes, and have repaired platforms on another 11 holes. They also started prospecting to map sites of historic artisanal mining, identified next to dumps that have yielded gold-bearing grab samples. The prospecting drive should help St. James understand the mechanisms that concentrate higher grades of mineralization around their Florin Gold project.
Won’t get too technical about the exploration findings by St. James during their exploration. Basically, they’ve made some promising high grade gold deposit finds and I think the private placement gave them a big financial safety net to go dig for it. Upsizing the private placement just shows the confidence the investors have in the company, with 22% held by insiders.
With the most recent number on inflation I think gold is an even more important asset to have and global demand has been increasing while new findings have been slowing down.
This is not investment advice, always do your own research.
Several artisanal and small-scale gold mining (ASGM) sites in Colombia were located and sampled. At each ASGM site, tailings samples were collected and analyzed. Establishing rapport with mining stakeholders and analyzing the samples allowed our team to draw conclusions about the inefficiency of mercury-use in gold extraction and the superior efficiency of centrifugal and gravimetric methods for reprocessing the mining residues produced by artisanal gold miners.
