First American Silver Corp. (OTCBB: FASV)
Silver is still hot according to Capital Economics. Their most recent pronouncement on silver follows:
As hot as gold’s been, silver has actually been hotter, and it may stay hot for some time. “The recent surge in the price of silver largely represents catch-up with gold after three years of under-performance. This phase of rapid catch-up is probably now drawing to an end,” Capital Economics says. “Nonetheless, the upward momentum is clearly strong and we continue to anticipate further gains in gold too.” Firm sees silver hitting a nominal all-time high this year, rising to around $50 an ounce, and peaking at about $55 in mid-2012.
FASV represents an astute means to get into the “hot” silver market without buying in at the top.
First American Silver Corp. has entered into an option agreement to acquire 100% interest in three mineral properties in Nevada from All American Resources LLC.
- Mountain City in Elko County, Nevada
- Egan Canyon in White Pine County, Nevada
- Muncy Creek in White Pine County, Nevada.
Perfect Way to Catch Silver Below Its All Time Highs
Silver mining represents a fabulous way to invest in the silver market which is reaching new highs. Finding a budding mining company like FASV is the best way to overcome the fact that silver is at all time highs — and get in at the lowest price available.
Spot silver <XAG=> hit a 31-year peak of $39.68 an ounce last Wednesday.
- Shares of many gold, silver miners continue to rise
- Gold, silver prices hit record highs
- Arca Gold Bugs Index tops 600 point mark
- (Updates with stock market openings, adds analyst comment)
The Mountain City Property is located in Elko County in north-eastern Nevada. It is situated about 0.5 miles north from the town of Mountain City and ten miles from the border with the state of Idaho in what is known as the Cope Mining District. Other historic mining properties are present in the vicinity including the Rio Tinto copper-gold mine, a historic producer located one mile to the southeast. Past sampling of quartz veins on the property indicate silver values up to 84.9 ounces per ton (opt), and gold values up to 0.218 ounces per ton.
The Egan Canyon Property is located in east-central Nevada approximately 3.5 miles southwest of the small town of Cherry Creek, White Pine County. It is situated along the steep sided Egan Canyon at elevations up to 7000 feet (2300m). The claims are within the Cherry Creek mining district, at the northern end of the Egan Range. A number of large mine dumps from a series of adits and shafts are present in the Egan Canyon property, and while no outcropping quartz veins are exposed on the talus and debris covered surface, the large amount of quartz in the mine dumps and float suggest a north-south trending vein or vein system was developed in the old workings. Quartz float and dump material show a variety of textures including quartz stockwork veining. Limited sampling of the dump material shows silver values to 6.04 ounces per ton, and gold values up to 0.81 ounces per ton.
The Muncy Creek Property is located in east-central Nevada along the east flank of the Schell Creek Range, White Pine County. The nearest town is Ely, located roughly 40 miles to the southwest of the property. Some recent assays from old mine dumps on the property returned up to 3.98% zinc, and 1.68% lead.
Gold and silver miners rose last week with the price of the precious metals touching new highs as a weak U.S. dollar and unrest in the Arab world raised investor demand for safe-haven assets.
- Spot silver <XAG=> hit a 31-year peak of $39.68 an ounce on Wednesday.
- The Arca Gold Bugs Index <.HUI>, which tracks 16 of the world’s largest bullion miners, broke through the 600-point mark — it last peaked at 598.36 in December 2010.
- Spot gold <XAU=> was bid at $1,460.01 an ounce, having hit an all-time high of $1,460.60 earlier in the day. Gold has rallied more than 8 percent in the past two months.
Virtually all the mid-tier and junior gold companies were in positive territory and several silver companies have made huge gains.
This represents a great way to invest in silver and avoid getting in at the top.
First American Silver Corp.
1135 Terminal Way
Reno, NV , 89502
For further information please visit the company’s website at www.firstamericansilver.com.
Forward-Looking Statements: Included in this release are certain “forward-looking” statements involving risks and uncertainties which are intended to conform to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s financial performance. Such statements are based on management’s current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel and general economic conditions, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important risk factors that should be considered may be contained in the Company’s Annual Report on Form 10-K and its Reports on Form 10-Q to be filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
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