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MERCER GOLD CORP (OTC BB: MRGP) recently reported results from 63 surface samples taken in the course of 1:5000 scale mapping of the surface at the Guayabales Gold Project. Results have been received for the final 18 samples with 4 samples being of special interest. Assay results ranged from 0.02 to 2.39 g/t for gold and <0.2 to 1782 g/t for silver. Samples GB 64, 76, 77 and 78 all reported gold assay values in excess of 1 g/tonne. Sample GB77 also reported in excess of 50 ounces of silver per tonne (57.3 oz/ton).
These results are encouraging considering they are from various parts of the property that were unexplored. I'm looking forward to seeing the results from our geochem program that ran across the entire property at 100-meter spacing. All of this work is in anticipation of a 5,000 meter drill program tentatively scheduled to begin October 15th, 2010, says Rahim Jivraj, President.
MRGP is focused on gold exploration and resource definition in Colombia. The Company acquired the prospective Guayabales Project, located in the Marmato Gold District, Department of Caldas, earlier in 2010. Mercer is exploring the Guayabales property and is seeking to acquire additional prospective gold properties in Colombia. Mercer Gold Corporation benefits from a veteran group of senior managers with years of working hand on in the mining industry in South America. Along with the core group of directors, the Company has a strong group of advisors and directors who oversee the forward development of its projects.
Diamond Offshore Drilling, Inc. (NYSE:DO) recently reported that the Company has declared a special quarterly cash dividend of $0.75 per share of common stock and a regular quarterly cash dividend of $0.125 per share of common stock. Both dividends are payable on September 1, 2010 to shareholders on record as of August 2, 2010. The Board reiterated its stated policy of considering paying special cash dividends, in amounts to be determined, on a quarterly basis. Any determination to declare a special dividend, as well as the amount of any special dividend that may be declared, will be based on the Company's financial position, earnings, earnings outlook, capital spending plans, and other relevant factors at that time.
DO provides contract drilling services to the energy industry around the globe and is a leader in deepwater drilling. Configured to achieve the optimum balance of flexibility and performance, Diamond Offshore's fleet has built its reputation on more than four decades of real-world global drilling experience. Its crews have honed their skills in the harshest environments. From the North Sea, the Gulf of Alaska, the Straits of Magellan, the south China Sea and Australia's Bass Strait, Diamond Offshore's industry veterans know how to meet the most formidable challenges.
US GOLD CORPORATION (AMEX:UXG) recently reported results for 15 new drill holes at the El Gallo project that were designed to increase the total number of ounces beyond the initial NI 43-101 resource estimate released on July 6th. The best drill hole, which encountered two separate zones, returned 16.8 ounces of silver per ton (opt) over 78.6 feet (ft) ((576.9 grams per tonne (gpt) over 24.0 meters (m) and 4.2 opt silver over 42.0 ft (142.3 gpt over 12.8 m).
UXG is a Colorado incorporated company that explores for gold and silver. It has an exciting high-grade silver discovery in Mexico that is rapidly expanding in size and it has completed a Preliminary Economic Assessment for building a gold mine in Nevada. US Gold's goal is to qualify for inclusion in the S&P 500 within the next 5 years.
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