American Consolidated Closes Sierra Rosario Acquisition

American Consolidated Minerals (OTC Other: AMERF; TSX-V: AJC) has closed the transaction with Sparton Resources Inc. for the acquisition of Sparton’s 50% interest in the 500-hectare Sierra Rosario Property, located in the state of Sinaloa, Mexico. International Northair Mines Ltd (TSX VENTURE:INM – News) is the owner of the other 50% of Sierra Rosario and is the project operator.

According to Al Fabbro, President of American Consolidated, “We are excited about this acquisition as Sierra Rosario represents a drill-ready property with potential for bulk-tonnage mineable silver-gold deposits.  With our joint venture partner’s proven and successful exploration experience in Mexico, we are confident we will move this project forward with positive results for our shareholders.”

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American Consolidated Enters into Agreement to Acquire 50% Interest in Sierra Rosario Property, Mexico

American Consolidated Minerals Corp. (TSX-V: AJC and OTC: AMERF) announced today the signing of an Agreement with Sparton Resources Inc. (TSX-V: SRI) for the acquisition of Sparton’s 50% interest in the 500-hectare Sierra Rosario Property (“Sierra Rosario”), located in the state of Sinaloa, Mexico .

The Sierra Rosario Property was explored by Sparton and INM over a four year period from 2004-2008. It lies within the Sierra Madre Occidental Mineral Belt of Sinaloa Province in Northern Mexico, approximately 25 kilometres northwest of the town of Choix and 40 kilometres east of the town of Alamos. Both areas have a strong history of precious metals mining.

Included in the multiple precious metals targets at Sierra Rosario are epithermal gold veins hosted by Tertiary volcanic rocks, disseminated silver and gold in an altered rhyolite porphyry intrusive, in addition to base and precious metals hosted replacement bodies (mantos) within Cretaceous limestone.

American Consolidated Completes Financing

American Consolidated Minerals (OTC Other: AMERF; TSX-V: AJC) has completed a $280,000 financing at $0.08 per share with a full warrant exercisable for 12 months at $0.12 per share.

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Gold M&A Great for Nevada Explorers

Newmont Mining to acquire Fronteer Gold, in a part cash and part stock transaction, valued at approximately $2.3 billion.  Fronteer is a gold exploration company whose flagship project is located in Nevada. 

Companies participating in gold exploration in Nevada include:

• American Consolidated
• Boxxer Gold
• Golden Phoenix
• Gold Standard Ventures
• Laurion Mineral Exploration
• Victoria Gold Corp.

American Consolidated Minerals – Review of 2010 Exploration

American Consolidated Minerals (TSX-V: AJC) has released a review of its exploration programs at Toiyabe in Nevada and Lone Ranch in Washington. 

At Toiyabe, the Company identified the 805 Fault as the principal feeder structure in the area tested and extended 805 related mineralization to depth with an intercept of 60 feet averaging 2.03 g/t gold, including 15 feet 5.11 g/t gold in drill hole T-1002BC. 

The Company is currently formulating its 2011 Toiyabe exploration plan. This program will test the north and south extensions of the 805 fault and untested geophysical anomalies in the northeastern part of the Courtney area. Extensive RC drilling of the shallower targets, as well as core drilling of deeper targets, is also planned.

According to Al Fabbro, President of American Consolidated Minerals, “The 2010 exploration program at Toiyabe has both increased our understanding of the property and confidence in our targets.  The drill targets have become much larger in size with the 850 Fault extending almost 4000 feet in length and the new geophysical interpretations defining bona fide world class drill targets. The work completed so far allows us to concentrate our efforts moving forward with a greater degree of confidence and a more focused plan. This year’s exploration program has brought us much closer to unlocking the true potential of Toiyabe. We look forward to 2011 with great expectations.”

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Q & A with Al Fabbro of American Consolidated Minerals

Al Fabbro, President of American Consolidated Minerals (TSX-V: AJC), discusses the Company’s recent drill program and expectations for the future.  This interview can be seen by clicking on the picture below.

American Consolidated Initiates New Drilling Program

American Consolidated Minerals (TSX-V: AJC) has initiated a reverse circulation drill program designed to test two northeast trending structures that are viewed as potential feeder faults. 

The first of the new drill holes, T-1003, is testing a fault that offsets the “805″ and West Graben faults. This is located 500 feet (150 m) northwest of the Company’s recently completed deep holes T-1001 and 1002. This hole will also test a north-south fault interpreted in the same area. Drill hole T-1004 will test a second northeast trending fault approximately 1,000 feet (300 m) further to the northwest. T-1004 will also test beneath an undrilled gold-in-soil anomaly. Weather permitting, two holes will be drilled in each target.

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American Consolidated Reports Assays from Deep Core Drilling

American Consolidated Minerals (TSX-V: AJC) released assay results for deep core drilling at its Toiyabe Project, located 12 miles south of the Pipeline Mine in northeastern Nevada.

The program was designed to target favorable host rocks in the hanging wall and footwall of the “805 Fault”, a previously identified feeder structure. Drill hole T-1002BC intersected 60 feet averaging 2.03 g/t gold, including 15 feet of 5.11 g/t gold.  This intercept has been interpreted as the 805 Fault giving the feeder structure a shallower dip (60 degrees versus 75 degrees). This makes the hanging wall of the 805 Fault the primary target for future drilling along this structure. Drilling results and their combination with a new interpretation of the structural fabric of the area derived from geologic mapping and geophysics have produced a greatly expanded target area.

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