Straw Lake Gold Mine

Straw Lake Gold Mine

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My friend, Todd Ryznar, is looking to bring his privately owned mine into production on a very small scale.

Todd is a real estate agent and knows very little of mining. This property sort of feel into his hands a while back.

Todd picked up some rocks from a dump and had them assayed recently. The results speak for themselves.
24.43 Au oz/t

Latest assays
4.03 Au oz/t
http://www.shotgunexploration.com/page/page/5476687.htm


http://www.shotgunexploration.com/page/page/4184210.htm
Historic:

Straw Lake Gold Mine

Todd tells me that you can crush a rock and pan-out a small amount of gold within an hour.

I hope to visit the property sometime this early summer to see if I can verify gold recovery, as he claims he has done.

Todd is looking to purchase a small concentrator for the large tailings pile on site. Apparently panning the tailings by hand also yeilds visible gold.

There is a possibilty that I will go into partnership with Todd. If you are interested in also taking a stake in this mine, contact me.

The Straw Lake Gold Mine is surrounded by Western Warrior Resources and on the same fault line as Rainy River Resources.

http://www.westernwarrior.ca/s/Home.asp

http://www.westernwarrior.ca/s/Pipes...eportid=171047

http://www.rainyriverresources.com/s/Home.asp

http://www.rainyriverresources.com/i...tionMapGeo.gif

Quote:
Originally Posted by shelby
Maybe they ought to consider this sort of small concentrator:

http://jasonhommelforum.com/forums/s...3154#post33154

I think they also will need 50 initial investors in order to get a listing?

I might be interested to be one of the initial 50, but there needs to be strong assurances they have done everything they need to do in order to get a listing, because I don't want my $ sitting illiquid.

Shelby, you may not be suited for this project. There are certain things that have to be accomplished before we can list. Todd needs help to get to that point, financially, as well as techincally. Maybe there would be a second round of private financing just before the listing that would be more suited to your goals.

Anyway, I have four interested individuals between Jason's and my forum so far. Therefore I will continue to post more details.

I talked with Todd for another half hour this evening. I wanted to see what qualifications for listing we would already have.

1. Todd has had no serious discussions with others about listing his company on the TSX. He has however had casual contact with Kevin Garner in Vancouver about doing an IPO.

2. Todd has full title to the property and has staked adjacent claims under control of his company.

3. The mine property consists of 200 contiguous acres.

4. Claims under control are 8,000 acres.

5. Todd has spent $65,000 on exploration over the last three years plus many hundreds of hours in his own labour.

6. Tailings pile is estimated at 32,000 tonnes.

7. All permits are in order to carry out small scale exploration (out crop stripping, channel sampling, onsite crushing and concentrating etc.)

8. Todd's company owns some small scale processing equipment such as Keene rock crusher for the purposes of sampling material.
http://www.keeneeng.com/Merchant2/me...tegory_Code=RC


Todd would like to purchase a few more pieces of small scale mining equipment such as a Falcon Icon concentrator.
http://www.iconcentrator.com/index.p...d=13&Itemid=27

Todd would like to start generating some cash flow to cover further exploration costs, as well as getting a geologist on the property to assist in targeting for channel sampling.

Todd keeps very busy as a real estate agent and knows he needs to hire someone to compile all known past data on the mine property, as well as claim data.

More later...

here are some of questions that may needs to be addressed over time before any initial venture:

* what would be a ballpark initial investment (if the answer is a million dollars - then it excludes me... go ask JH)

* do the initial investors have assurances their shares wont get diluted? how does allocation of shares work for the initial investors and future investors?

* what is the end goal the company is trying to achieve? what is the projected timeline? how will investors see returns?

* proof/verification needs to be provided on ownership, etc... [aka, its not a 'scam' - trust but verify]

also because i am an american i am not familiar w/ canadian laws of creating a corporation, tse or any canadian exchanges, canadian tax laws, etc... - and would need guidance on how that works.

mshen11 wrote:

here are some of questions that may needs to be addressed over time before any initial venture:

* what would be a ballpark initial investment (if the answer is a million dollars - then it excludes me... go ask JH)

* do the initial investors have assurances their shares wont get diluted? how does allocation of shares work for the initial investors and future investors?

* what is the end goal the company is trying to achieve? what is the projected timeline? how will investors see returns?

* proof/verification needs to be provided on ownership, etc... [aka, its not a 'scam' - trust but verify]

also because i am an american i am not familiar w/ canadian laws of creating a corporation, tse or any canadian exchanges, canadian tax laws, etc... - and would need guidance on how that works.

Thanks, mshen.

I agree. There is a lot of ground work to be done.

I won't be saying much more on this deal for now. I know what the next step for me is; I need to see some things with my own eyes. If I can't find visible gold on the property from a freshly broken rock, by my own hands, on day one, then I will drop this like a hot potato.

Hi Bull:

Any update on this mine.
Have you visited it yet?

Cheers!

md1 wrote:

Hi Bull:

Any update on this mine.
Have you visited it yet?

Cheers!

No, I have nothing new.

I have a lot on my plate right now, but I am very interested in seeing the property.

I think the market would really have to turn for the better to make a public company out of this project, but that won't stop Todd from extracting gold on a small scale.

I will post as I have anything of interest.