Thursday, 10 November 2011 05:50

Sutter Gold Mining gears up for production under new CEO/President

Written by 
Rate this item
(0 votes)

slide2-sutter_gold_mining_gears_up_for_production_under_new_ceo_president.pngAmador County – Sutter Gold Mining Incorporated last week announced plans to expand its Sutter Creek mining sampling, as it works to move toward production, under its new president and Chief Executive Officer, who also is a California resident.

Sutter Gold Mining announced in September the appointment of Dr. Leanne M. Baker, as President and Chief Executive Officer, who took over the position Nov. 1.

Baker has extensive experience in the mining and financial sectors and holds a Master of Science degree and a Ph.D. 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, Baker was an Equity Research Analyst and Managing Director of Salomon Smith Barney and Citigroup in New York and San Francisco. She has 20 years of Wall Street research and banking experience included managing the commodity research team at Philipp Brothers in the 1980s and helping to build a metals and mining equity research and banking franchise at Salomon Brothers in the 1990s.

Baker said she was “honored to join a company that is on its way toward profitable gold production in California’s historic Mother Lode.”

Hutmacher said Sutter Gold Mining has applied to Amador County for grading permits to begin construction of the Tailings Processing Area, Surface Fill Unit access road and Entrance Facilities. The application for building permits for the Staff Services, Shop Building and Mill Facility have been submitted to Amador County.

“Construction contract documentation remains in progress for the buildings, with a separation of foundation and building contracts due to the approach of the winter rain season and the resulting critical timing for completion of the foundations, he said.”

The company to date “has received confirmation letters of interest for the underground development from several of the six pre-qualified underground mining contractors.” Closure of invitation to bid process was Oct. 20.

Sutter currently controls approximately 3.6 miles of the Mother Lode of Amador County, with 90 percent of the property still unexplored. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth.

Properties under Sutter Gold Mining’s control include seven historic mines with significant historic gold production totaling more than 3.5 million ounces, or 27 percent of the historic gold production from the Mother Lode. Historic mines 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.

Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.

Read 520 times Last modified on Friday, 11 November 2011 06:15
Tom