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  1. laura

    SMW Gold Announcements

    SMW Gold, a junior exploration company (a division of a larger metallurgical/engineering company) developing very promising gold/copper deposits in Egypt seeks to appoint an experienced CEO with a proven track record. Accomplishments need to include: • Heading (or co-heading) a public mining/exploration company - or a sizeable division of such; • Assembling a financial team and leading the public listing process; • Developing appropriate corporate governance and compliance procedures; • Regularly communicating with investment banks and investors; • Developing a system/culture of constant cost review and optimization; • Relationship management with external financial institutions and the internal management team. A competitive compensation package will commensurate with experience and accomplishments. To apply or to find out more about this position please forward your CV/Resume and Cover Letter to hr [at] smwgold.com
  2. SMW Gold recently reported it has received and analyzed independent scoping studies for its El Fawakheir and Umm Balad concession areas in Egypt’s Eastern Desert. The studies contain detailed assessments of the concession areas indicating high resource potential for these properties. Internationally recognized mining industry consulting company Behre Dolbear conducted these studies in accordance with all applicable NI 43-101 regulations. The full reports are available at www.smwgold.com. El Fawakheir and Umm Balad concessions, covering an area of almost 1500 km2 with good infrastructure in place, include El Sid, South El Sid, Fawakheir, Atalla, Atalla El Mur, El Urf, Umm Balad, Wadi Dib, Wadi Dara, Umm Esh, Umm Monqul and other deposit zones with total forecasted gold resources of over 470 tons. El Fawakheir Concession includes three historic gold mining areas: Atalla, Fawakheir and El Sid, and other known occurrences of shear hosted quartz-vein type gold mineralization forming a zone about 5 km in length and from 200m to 900m in width. The close relationship between the granite and the gold mineralization is similar to the recently commissioned Sukari mine about 100 km to the south. Atalla gold mine has one main quartz vein that is about 250m long and 0.35m wide, and several smaller parallel quartz veins in a granite host rock. The size of the Atalla deposit suggests that it could have potential for development as a low-grade, open-pit satellite operation to a larger mining operation close by. Fawakheir mine has two main mineralized zones consisting of individual high-grade quartz veins interspersed within a much wider (30 to 40m) zone of shearing and hydrothermal alteration that carries low-grade (1 g/t Au) gold values. Sampling indicated that one of these mineralized zones is, on average, about 21m wide and contains about 1.53 g/t Au. This substantial body of low-grade gold mineralization indicates high potential of a possible low-grade open-pit gold deposit. El Sid mine features a broad zone of quartz veining within sheared and hydrothermally altered rocks adjacent to the granite contact. Surface sampling indicated there is low-grade (1 g/t Au) gold mineralization in the altered wall-rock between the individual quartz veins. This low-grade mineralization forms two closely spaced parallel bodies, each estimated to contain about 40 million tons of mineralization at an average grade of about 1.73 g/t Au to a depth of 200m. The surface data indicates the potential for the discovery of a low-grade, open-pit deposit. Umm Balad concession area had been significant for gold mining in ancient times. Although the remaining individual quartz veins are insufficient to support underground mining, the large areal extent of the gold mineralization suggests existing potential for the discovery of a low-grade open-pit type gold deposit. The deposits of Umm Balad concession are specified by complex mineralization with entrained molybdenum and formed in several stages. These occurrences are noted for the great area of ore-hydrothermal systems, over 20 km2 in size, at El Urf deposit – and lie within intensive anomalies of the g-field. The complex mineralization development zone runs for over 30 km along graben trend of a sublatitudinal strike formed by the complex of igneous-sedimentary pre-Cambrian rock. Presently, the area is geologically mapped and the exploration work is ongoing. According to Behre Dolbear experts, the large areal extent of mineralization evidences numerous common features with Olympic Dam – the world’s largest gold-copper-uranium deposit. Available data has shown that the El Urf / Umm Monqul zone contains anomalously high levels of gold, copper and molybdenum over an area of about 10 km2. Geological investigations are continuing and the Company plans to launch an extensive drilling program to test the mineralized zones defined by the mapping and sampling work. The program will be supported by satellite image interpretation, geological mapping and sampling, topographic surveying, mineralogical sampling and test-work in order to provide a basis for mineral resource estimation within each site. SMW Gold is a growth-oriented mining and exploration company operating in Egypt and Russia with top-priority projects include development of El Fawakheir and Umm Balad concession areas in Egypt. The Company has a highly qualified management and technical team with extensive experience in gold mining. For more information on the Company, please visit the Company’s website at www.smwgold.com.
  3. SMW Gold, a junior exploration and mining company based in Moscow, Russia, recently announced results of its latest assay results on samples from its licensed El Fawakhir and Umm Balad territories in Egypt. The samples demonstrate content as high as 251 grams/ton at Fawakhir, taken from the trenches, and 232 grams/ton at Umm Balad, taken from an ancient mine. Of the latest 1400 samples analyzed, over 26% indicate gold grade of above 0.3 grams/ton. SMW Gold has been exploring for gold in Egypt in partnership with the Egyptian Mineral Resources Authority (EMRA) since 2007. The territories licensed to SMW Gold cover 1,500 km2. in the districts of Fawakhir, El Sid, Atalla, El Urf and several others in the Eastern Desert. These areas are known to have the highest historical occurrence of gold in the country. The licenses were granted under two production sharing agreements covering exploration and mining for the next 30 years that were ratified by the Egyptian Parliament in late 2007. The territories contain numerous ancient mines no deeper than 15 meters. Current technology allows drilling at well over 1000 meters. Mark Lisnyansky, Managing Director of SMW Gold, said, “Our latest assay report indicates compelling prospects for SMW Gold’s exploration in El Fawakhir and Umm Balad. Based on these results, our team of prominent geologists anticipates several significant commercial discoveries at our Egyptian properties in 2010.” SMW Gold is actively advancing its exploration in Egypt. The company recently retained Behre Dolbear to perform an independent study, the results of which are expected by mid-December 2009. Egypt has returned decisively to gold mining after many decades of inactivity. According to official forecasts, output in 2010 is projected to exceed the country’s total production of the entire 20th century. The Egyptian government estimates the country’s gold output in 2010 at 300,000 ounces, a vast increase to the less than 1,000 ounces mined in 2009. The Pharaonic mines in the Fawakhir district of Egypt’s Eastern Desert appear on a 3,200 year-old papyrus map, the oldest in existence. These rich mineral deposits, largely neglected for two millennia, have the potential to transform the Egyptian economy as they are brought on stream in the coming decade. President Nasser closed down the last mining operation in the region in the 1950s. In the 1970s, exploratory work by Russian geologists and geophysicists confirmed that the Pharaohs had barely scratched the surface of the local gold deposits. The Egyptian Government and the World Bank's International Finance Corporation (IFC) have signed a Memorandum of Understanding and work is ongoing to redraft the laws aimed at restructuring the gold mining sector to make it more attractive for investment. Today, Egypt derives 1% of its GDP from its mineral resources (phosphate, gypsum, coal, etc.), yet the mining sector has the potential to account for at least 10% to 12% of the country's GDP. Egypt's gold reserves are now believed to be up to 70 million ounces, an increase from 3 million in 2005. These figures are the result of exploration campaigns carried out in the Eastern Desert area by several international companies, most notably Centamin Egypt and SMW Gold, and are likely to rise as the work continues. In a recent interview, Mr. Sameh Fahmy, Egypt's Minister of Petroleum and Mineral Resources, stated, "We have huge reserves. We want international companies to join us." SMW Gold is a junior exploration and mining company dedicated to development of economic, multi-million ounce deposits in Egypt. Based in Moscow, SMW Gold is a unit of SMW Engineering, whose parent company is Magnesium.com. More information on SMW Gold can be found at www.smwgold.com.
  4. An early stage gold exploration and development company with rights to very promising deposits in Russia and Egypt is seeking to recruit an experienced CEO. Please send CV to mvcfund@magnesium.com
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