Royal Standard Minerals Inc. (OTCBB: RYSMF) is a mineral exploration company engaging in the development and extraction of gold and precious metal deposits throughout the state of Nevada. The company is composed of proven mine-finders, explorers, developers, and financiers. Over the years, Royal Standard has aggressively built a portfolio of quality projects that hold great potential for near-term production.
During the last year, the state of Nevada accounted for 83% of all gold produced in the U.S. With these numbers, the company has pursued numerous projects located within the state, as they believe continued work in the region will allow them to become one of the leader’s in acquiring gold and other precious metals. Currently, the company has operations on four projects: Goldwedge, Pinon-Railroad, Como, and Fondaway Canyon.
As the company’s first development property, Goldwedge lies within one of Nevada’s most flourishing gold districts. The property is located on the Central Nevada Caldera trend, which is the same trend that is home to the world-class Round Mountain gold mine. The company has already encountered high-grade gold at Goldwedge and excavated a decline for over 2,000 feet into the primary mineral zones. Since the company has established a feasible opportunity with the project, they have built a crushing and milling plant and secured the necessary permitting. A bulk sampling program has been in existence for a couple years now, and allows the company to analyze future opportunities within the property.
Pinon-Railroad is another key project for the company. Located on the southern portion of the renowned Carlin gold district of northeastern Nevada, the economical potential of several large, near-surface deposits with open-pit, heap leaching possibilities have been evaluated. There also is a possibility for a deeper, underground mine with high grade gold-silver deposits. Continued evaluation of the property and the surrounding areas may lead to large copper-gold deposits, but further research and exploration will be needed. As of now, the company is exploring two types of deposits at Pinon-Railroad. One is oxidized, near-surface mineralization amenable to heap leach mining, and the other is a Carlin-style “feeder” system which typically lies at deeper levels, though both possess excellent potential.
The company’s last two projects are the Como project and Fondaway Canyon. Como is a high-grade former producer with substantial potential for both vein and large-tonnage bulk-mining. Historical underground production totals about 20,000 ounces of gold and 500,000 ounces of silver. Numerous companies have previously explored the property since the 1960’s, including St. Joe American, Amoco, Meridian Gold, Anglo Gold and Amax Gold. Fondaway Canyon is a vein-hosted gold resource spanning an 11,000 foot mineral belt. The property covers 148 contiguous claims about 40 miles east of Reno, Nevada on the western slopes of the Stillwater Range.
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