Montana Gold Mining Company Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 12 – 152 Albert Street London, Ontario Canada N6A 1M1 |
| Tel No.: | (519) 697-2313 |
| Fax No.: | (519) 439-9997 |
| Web Site: | www.montanagoldmining.com |
| Email: | ted@montanagoldmining.com |
| Contact Person: | Edward (Ted) Ellwood |
| Position: | President & CEO |
| Traded Market: | CNSX |
| Traded Symbol: | MGM |
| Outstanding Shares: | 23,981,014 |
| Public Float: | 7,500,000 |
| 52 Week High: | $ 0.35 |
| 52 Week Low: | $ 0.05 |
| Present Price: | Click Here |
Montana Gold Mining Company Inc. ("MGM" or the "Company") was formed to selectively acquire and re-examine gold and silver projects within North America that have previously reached advanced exploration, underground development or past production.
The Company focused on gold-silver projects with near term production potential and exploration targets with large tonnage gold or base-metal potential. The Company sees current opportunity in Montana with an impressive historic gold mining industry and a recent return to a mining friendly regulatory environment by the state.
The ultimate strategy of the Company is to develop one or more mining projects to the point where the projects, or the Company, can be sold to a major mining company. Management notes the old adage that says: "The best place to find a gold mine is from within, or next to an old gold mine."
Silver Bell & St. Lawrence Gold Property, Virginia City, Montana (“SBSL Property”)
The Silver Bell-St. Lawrence Gold Property (the “SBSL Property”) is located approximately 3 miles west southwest of the town of Virginia City, Montana, in Madison County, and approximately 50 miles south-southeast of Butte, Montana. The claims are accessed year-round by a public road running off of paved Montana Highway 287. Electrical power extends to within approximately 2 miles of the property.
The SBSL Property currently comprised of 1 patented lode claim and 24 unpatented lode claims, including 15 claims recently staked by MGM along strike. Property now totals approximately 394 acres.
In September, 2011, the Company agreed to acquire a 100% working interest in the SBSL Property. This agreement replaced a prior option agreement where the Company was earning a 50% interest through exploration work.
The SBSL Property hosts two past producing gold mines (the Silver Bell and the St. Lawrence) that operated in the early 1900’s and again in the 1970’s at the St. Lawrence. The historic shafts for each were located approximately 3,600 feet apart and the two mines were originally held by different owners. On initially reviewing the SBSL Property, the Company was intrigued by the possibility that the two mineralized systems could be related, or lie along the same vein system.
In April, 2011, Childs Geoscience, Inc. (John Childs, Ph.D., Reg. Geo.) completed an NI 43-101 compliant technical report on the SBSL Property (the “SBSL 43-101 Report”). The geologic mapping, geophysical surveying and geochemical sampling work recommended under the SBSL 43-101 Report commenced in the Fall of 2011. Focus of exploration is between the historic head frames and along strike and at depth.
The SBSL 43-101 report states in the Summary section: “The veins in the Silver Bell – St. Lawrence area generally strike northeast with moderate northwest dips. Mining operations on the two deposits occurred between 1910 and 1975. Although production records are incomplete, available smelter receipts for the years 1962 to 1976 indicate that annual production delivered to the smelter ranged from 25 to 2,569 tons per year with gold grades ranging from 0.15 to 0.52 ounces per ton and silver grades ranging from 2.7 to 15.6 ounces per ton, with minor base metal credits. The latest exploration efforts on the property were conducted from about 1980 to 1983.”
SBSL Exploration Highlights
Investment Highlights
Management and Directors
Edward L. Ellwood, MBA, President and CEO, Director
Eric Plexman, Corporate Secretary and CFO, Director
Luard J. Manning, P.Eng, Qualified Person, Director
Kent Britton, BA Economics, Director
Paul V. Teodorovici, Director
Clifford Wiebe, Director
John R. Wozny, MA, Director
On July 5, 2012, Montana Gold Mining Company Inc. announced that it has filed on SEDAR a National Instrument 43-101-compliant technical report on its Silver Bell-St. Lawrence (SBSL) gold project, Montana.
On May 3, 2012, Montana Gold Mining Company Inc. announced that it has completed a $170,000 private placement financing, granted 2.6 million incentive stock options to directors, officers and a consultant to the company, made a final cash payment to secure 100-per-cent ownership of the Silver Bell-St. Lawrence gold project in Montana, resumed activity on the Golden Trail project in Nevada and commissioned new NI 43-101 technical reports on both 100-per-cent-owned gold exploration projects.
On October 31, 2011, Montana Gold Mining Company Inc. announced that it has staked 15 additional mining claims adjacent to the northern and eastern boundaries of the Silver Bell – St. Lawrence Gold Property. The newly staked claims are called the Roar claims and bring the total size of the SBSL Property to about 394 acres. A program of geological mapping, geochemical and geophysical surveying is presently underway as recommended in the NI 43-101 report.
MANAGEMENT
Mr. Ellwood has over 20 years experience serving as Senior Officer or Director for companies listed on a number of Canadian Stock Exchanges. Also Corporate Secretary and co-owner of a private London, ON based company.
Mr. Plexman is the Chair of the Company's Corporate Governance Committee. He has over 30 years experience serving as a director or officer of publicly traded mineral companies. Director and CEO of Trueclaim Exploration Inc. (TSX-V: TRM).
Mr. Manning is the Chair of the Company's Health, Safety & Environment Committee. He is a mining engineer with extensive experience working and consulting on mine development and production projects over the past 40 years. Mr. Manning is also director of three other publicly traded mineral companies.
Mr. Britton is the Chair of the Company's Audit Committee. Mr. Britton also has extensive experience as an investor relations professional.
Mr. Teodorovici is a property management consultant in Montreal. For the past 25 years Mr. Teodorovici has served as a board member or consultant to mineral exploration or industrial companies.
Mr. Wiebe is a private consultant in Winnipeg, Manitoba specializing in business process and communication. Mr. Wiebe has over 23 years experience in the technology field.
Mr. Wozny is the Chair of the Company's Compensation Committee. Professional psychologist currently conducting research at the University of Lethbridge, AB.