Sniper Resources Profile
Symbol
TSX : XG
Sniper Resources Ltd. is a Nevada gold company that was incorporated in September, 2006.
The Founder and President is Mr.Scott D. Baxter, who was also President and CEO of Tone Resources Ltd. (TNS.V),which was acquired by Robert McEwen’s US Gold Corp.(UXG). Scott was the founder of Tone Resources and was responsible for the funding of the company. He has over 20 years experience in gold exploration in Nevada.
Sniper’s co-founder and Vice President of Exploration is Douglas H. McGibbon, formerly Chief Geologist with Rayrock Mines, Inc. and Glamis Gold’s (now Goldcorp) Marigold Mining Company. Doug is credited with discovering more than 10 million ounces Au, and has 27 years of exploration experience in the Nevada gold country.
Sniper presently controls three properties, which are known as Overland Pass, Guild, and ReHot. In total they comprise a total of 218 lode mining claims, or about 4360 acres. Each of the properties has excellent potential for hosting economic deposits.
Overland Pass is located about 60 miles south of Elko, on the Carlin Trend and immediately adjacent to Barrick’s multi-million ounce Bald Mountain Mine, which is presently in operation as well as being the focus of recently-expanded exploration activity by Barrick.
Guild is about 50 miles east of Tonopah, and is also a Carlin-type target, with ore grade Au in jasperoid present at both ends of the property and geochemistry suggests a Carlin-type mineralizing system.
The ReHot Claims are wholly owned by Sniper. They are located in the Hot Spring Range north of Golconda, between the Pinson and Getchell Mines (actively being explored and mined respectively) on the east, and the Dutch Flat area to the west, which has recently been drilled by Piedmont Mining. It is more a wildcat prospect than the above properties, but also has potential for both distal-disseminated and deeper Carlin-type mineralization.
Nevada – Favorable to Mining and Investors
Sniper Resources focus is on gold exploration in Nevada – a world-famous and mining-friendly state. In 2003, approximately 7 million ounces of gold were produced in Nevada, placing Nevada third behind politically unstable South Africa, and Australia. In Nevada, a commitment of capital by major mining companies and global investors has been evident over the last twenty years. This has led to the development and expansion of mines such as Goldstrike/Betze-Post, Meikle, Pipeline, Round Mountain, Twin Creeks and Gold Quarry. Installation of technologically advanced processing capabilities has dramatically improved the infrastructure in Nevada for recovery of gold from a variety of ore types.
Exploration Competitors are Returning
The decline of the gold price through 2001 caused mining company exploration budgets to contract. This significantly slowed the pace of new discoveries throughout the world. The majors largely focused on corporate acquisitions and limited exploration to extensions of known deposits near existing operations. An ever-increasing deficiency of quality early and mid-stage properties developed. Opportunity existed for an efficient and effective exploration team, such as Sniper Resources, to acquire and advance quality gold prospects in the prolific north-central Nevada region. Sniper Resources took advantage of this opportunity, and continues to take advantage of this opportunity through the acquisition and exploration of quality prospects located within the major gold trends in Nevada. Sniper Resources now controls four individual projects. All Sniper Resources acquisitions were based on positive geological information indicating the possible presence of one or more large gold deposits.
Mr Scott D. Baxter, President
3374 West 19th Avenue
Vancouver, BC
V6S 1C2
Toll Free 1-888-737-2454
Telephone 604-263-5614
Fax 604-263-8415
E-Mail scott@sniperresources.com