Sutter Gold Mining Inc.(TSXV:SGM, OTCQX:SGMNF) is a growth-oriented exploration and development company, based in Lakewood, Colorado and incorporated in the province of British Columbia. Sutter Gold Mining’s primary focus is on the evaluation and development of their 100 percent owned Lincoln-Comet zone of the Lincoln Project located in the heart of California Mother Lode Gold Belt in Amador County, California. All major permits are in place and the project is set for full production in 2013.
Historical production from Sutter Gold Mining Company’s properties amounts to more than 3.5 million ounces and over 7.8 million ounces for the entire Amador District. Sutter Gold Mining Inc. trades on the Toronto Venture Stock Exchange and is set on the goal of becoming a North American gold producer.
- Gold Production set to start in late 2012, full production in 2013
- Positive results from Phase 1 drilling
- NI 43-101 March 2011/ PEA May 2011
- Fully permitted for up to 1,000 Tons(US) per day despite strict Californian environmental policies
- 80-90% of the property unexplored
- Exploration program is a third complete
- Future cash flow allows for further exploration, development and acquisitions
Robert Hutmacher on Sutter Gold’s Lincoln Project
The Lincoln Project
Sutter Gold Mining’s primary focus is the evaluation and development of the Lincoln Project located 45 miles southeast of Sacramento, California where they have obtained five major operating permits. The Amador County property, beginning with the shallow portion of the Lincoln-Comet ore zone of the Lincoln Project is situated in the heart of the California Mother Lode Gold Belt. The Lincoln-Comet and Keystone zones have a NI 43-101 compliant indicated resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing 223,000 ounces of gold and Inferred resources of 2,161,700 tonnes (2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
Sutter Gold Mining currently controls approximately 3.6 miles of the Mother Lode property, with 80 to 90 percent still left unexplored. High grade potential exists both at depth and along strike of the known mineralized zones on both the footwall and hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.8 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located.
Properties under Sutter Gold Mining’s control include seven historic mines with significant historic gold production totaling approximately 3.5 million ounces or 27% of the historic gold production from the Mother Lode. Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode successfully mined gold to depths of 4,500 and 6,300 feet, respectively.
In March 2012, Sutter Gold Mining announced analytical results for portions of the first three diamond drill-holes of Phase I drilling program in progress at its Lincoln Mine Project. The highest values came from DDH-198, which intersected 4.317 ounces of gold per ton (opt) grading 148 g/t in a 1.8- foot interval and 1.791 opt, 61.4 g/t, in the adjacent 2.1-foot interval. Both DDH-196 and DDH-197 intersected the quartz vein structure which hosts much of Sutter’s Lincoln Mine Project gold values, and DDH-197 significantly extends the gold–bearing zone upwards in the southern portion of the Lincoln resource block.
Phase one of the drilling campaign consists of 17 angle core holes drilling at the central and southern portion of the gold resource zone of which five drill-holes have been completed. Phase two of the program will consist of 11 holes to be drilled in the northern or Comet portion of the Lincoln Project. The initial report of preliminary analytical results for segments of the first three completed drill-holes was received on March 2, 2012. Full Production is expected in Q2 2013.
Sutter Gold Mining Inc. is a growth-oriented exploration and development company preparing set to become a North American gold producer with their primary focus on the Lincoln Mine Project. Sutter Gold Mining recently announced the positive results for portions of the Phase I drilling program in progress at its Lincoln Mine Project. The 2012 drilling program is off to a strong start with the Sutter gold team aiming to start production later in the year.
The highest drill results came from DDH-198, which intersected 4.317 opt (148 g/t) over a 1.8 foot interval. The drill campaign is focusing on near-surface extensions of gold-bearing zone and the under-explored region between the Comet and Lincoln segments of the gold resource. Results from the first three holes suggest initial success on both fronts.
Dr. Leanne Baker – President, Chief Executive Officer, and Director
Dr. Baker has extensive experience in the mining and financial sectors. She holds M.S. and Ph.D degrees in mineral economics from Colorado School of Mines. She has been an independent consultant in the Mining and Financial Services Industry since 2002 and managing Director of Investor Resources LLC since 2006. Prior to that, Dr. Baker was an equity Research Analyst and Managing Director of Salomon Smith Barney/Citigroup in New York and san Francisco.
Her 20 plus years of Wall Street research and banking experience included managing the commodity research team at Phillipp Brothers Inc in the 1980s and helping to build a metals and mining equity research/banking franchise at Salomon Brothers Inc in the 1990s. Dr. Baker serves as Director of Agnico-Eagle Mines Ltd., Kimber Resources, Inc., Reunion Gold Corporation and US Gold Corporation, all public companies, as well as ETF Securities Ltd., a private company.
Robert Hutmacher – Chief Financial Officer
Mr. Hutmacher joined Sutter Gold in 2008 and is responsible for accounting, financial, investor and human resources as well as compliance. He is a member of both the Colorado Society of Certified Public Accountants and American Institute of Certified Public Accountants. Mr. Hutmacher has over thirty years of experience in both the public and private sector, encompassing all facets of accounting, finance, mergers and acquisitions.
Most recently, Mr. Hutmacher was Corporate Controller for US Gold where he established new accounting systems and controls that resulted in successful compliance with Sarbanes Oxley in the company’s first year of required compliance. Mr. Hutmacher previously held the Chief Financial Officer positions at Luzenac America Inc., (a Rio Tinto Company) and Pacifica LTM. Mr. Hutmacher also spent five years at the international auditing firm of Ernst & Young.
Matthew Collins, Q.P. – Chief Operating Officer
As a key member of Sutter Gold Mining’s management team, Mr. Collins is responsible for the development and operation of the company’s assets. He has prior senior management experience in the mining and construction industries including operations and engineering, and is experienced in evaluating and managing projects and developing underground mines. While experienced in many types of mining projects throughout the western US and EU, his specialty is narrow underground precious metal mining which is perfectly suited to Sutter Gold Mining’s Lincoln Project.
Just prior to joining Sutter Gold Mining, Mr. Collins was general manager at the Front Range Gold Project for Global Minerals Ltd., where he was responsible for bringing the historic Cash and Who Do mines and Gold Hill Mill into production. During his tenure, including the evaluation, re-development and brief operational phases, that project received numerous environmental and safety awards, including the 2006 Colorado Department of Natural Resources Hard Rock Reclamation Award, 2005 National Runner-up Small Metal/Non-Metal Mine Sentinels of Safety, 2006 & 2007 Sentinels of Safety Certificates of Achievement, the 2007 Colorado Division of Reclamation, Mining and Safety Small Underground Metal Mine Award while producing over 1,600 ounces of gold and 13,000 ounces of silver.
Mr. Collins holds a B.Cs. degree in Mining Engineering from the Colorado School of Mines. He is currently an adjunct faculty member at the institution and is a Qualified Person as defined by Canadian National Instrument 43-101.
David A. Cochrane P.G., C.E.G. – Vice President of Environmental Health and Safety
Mr. Cochrane is a Professional Geologist and Certified Engineering Geologist with over 30 years of combined professional and management experience. Mr. Cochrane joined Sutter Gold Mining in September 2009 from Golder Associates Inc. During his tenure, he was the Operations Manager for their northern California operations where he managed and directed a wide range of projects for both the public and private sectors.
In 2005, he was instrumental is assisting Sutter Gold Mining in obtaining a critical permit from the state of California allowing the emplacement of mining and milling wastes to both the ground surface and underground mine workings at the Company’s Lincoln Mine Project. Since then he has continued to assist Sutter Gold Mining in obtaining other permits and regulatory approvals to develop the Lincoln Mining Project.
He has a broad background of providing consulting services to many industries including the mining, manufacturing, oil and gas, timber, energy, land development, real estate, waste management and resource recovery as well as federal, state and local government agencies. Mr. Cochrane has managed operations in both the waste management industry and environmental, engineering and earth sciences consulting.
Edward McGoldrick – General Manager
Mr. McGoldrick was recently appointed as the General Manager for Sutter Gold Mining’s Lincoln Mine Project. Mr. McGoldrick is a proven team project manager who brings a strong track record of leadership at successful California mining operations. A graduate of the Colorado School of Mines with a Bachelor of Science degree in Mining Engineering. Mr. McGoldrick is experienced in underground and surface mining for a range of commodities in both small and large operations. He is the ideal professional to lead the Lincoln Mine Project operations, from construction and development, into mining and gold production having recent experience with active mining and reclamation projects under California environmental safety regulations most recently in senior operational roles for Los Angeles based Vulcan Materials Company at operations in Sun Valley, California.
Amanda Miller – Controller
Ms. Miller has eleven years of mixed public and private accounting experience in multiple industries including both gold and coal mining. She has extensive experience in public reporting for both the Canadian and U.S. exchanges. Most recently she was employed in the Accounting and Finance department with US Gold, where she was responsible for internal SOX compliance, general ledger and financial reporting. She has a B.S. degree accounting from the University of Wyoming.