Red Lake Exploration, Inc. (RLKX.OB) is focused on acquiring, exploring and developing mineral properties in Chile. The Company’s headquarters are located in Richmond, Canada. Its primary project, the Farellon property, is situated in the promising Canadalaria Iron Oxide Copper Gold belt.
The Management team, comprised of John Di Cicco, Caitlin Jeffs, and Michael Thompson, has great experience working within the mineral exploration industry. Caitlin Jeffs received her Honours B.Sc. in Geology from the University of British Columbia and has worked for a number of junior and major companies in both gold and base metal exploration. The majority of her experience comes from working with Placer Dome CLA Inc. and Goldcorp Inc. where she managed all aspects of deep exploration projects.
Michael Thompson has also worked for several junior and major companies in both gold and base metal exploration. He received his Honours B.Sc. in Geology from the University of Toronto in 1997 and specializes in structural interpretation of gold deposits in addition to managing large exploration programs.
The Company has received options to purchase Santa Rosa and Camila Mineral Properties in III Region, Chile. Both Santa Rosa and Camila have identified drill targets and drilling plans are in development. Geological interpretations of the tectonic settings and identified alteration suggest that large hydrothermal systems comparable to those of the Candelaria and Manto Verde mines, which host significant copper and gold resources, are present.
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quality stocksSat Mar 15 04:39:17 +0000 2008
Mining Exploration Company Red Lake Exploration, Inc. (RLKX.OB) sees Great Potential in Chilean Hills
The company is buying up old Mines in the Chiles III region, with the intention to use present day mining techniques to extract copper, gold, and silver. Many of the Mines date back to the 16th century and were abandoned many years ago in favor of the large inland deposits, but using today’s advanced mining methods, the company believes these mines hold large deposits of Gold, Silver and Copper waiting to be extracted.
Gold is currently trading at the highest price it has ever traded at, hitting a record high of over $1000 dollars an ounce yesterday. This is driven by the supply curve of gold. World demand has skyrocketed, as the Real Estate bust becomes a reality. Another driver of high gold prices is the weak US dollar, which continues to plummet. All of this is driving investors to bid up the price of gold. When the economic outlook is uncertain investors turn to gold.
Silver is also seeing increased demand pressure. This is associated with dwindling supplies. Most Silver mined today is a by-product of other metals thus creating a sticky supply curve. This sticky supply curve leads to extreme rises in the price of Silver, because production takes years to increase. Demand is driven by Industrial uses, Decoration and Investor speculation.
This Chilean mining company is well positioned to capitalize on the explosive commodities market of Gold, Copper and Silver. Using today’s technology, they identified existing mines that still hold great quantities of these precious metals. They have selected each one of their exploration sights strategically. It is the company’s belief that these mines will deliver well beyond expectations, which could bring exceptional returns to investors.
$0.34 (03/14/08)
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