Vancouver, BC-based junior resource company Molycor Gold Corp. (MOR.TSXV), (MLYFF), (M1V.F) is a diversified metal-mining company seeking precious, specialty, and base metals from properties in Nevada and British Columbia. Focused on magnesium, molybdenum, and gold exploration and development, Molycor is well placed to take advantage of market conditions like the high price of gold or Chinese efforts to manipulate the market for magnesium.
A Golden Opportunity
Molycor began expanding into Nevada exploration in 2005 with a portfolio of precious metal properties in the Cortez gold belt in the Battle Mountain Range in Nevada. There, the company now owns 100%, six properties that are exploring for magnesium, silver, and gold. The Davis is a gold prospect with a historic gold resource developed by USSRAM. The Ridgetop Project is also a gold prospect as is the TKO-Hot Dog Ridge and the Griffon Property. The Silverado Property is a silver and gold prospect, while the Tami-Mosi project was exploring for gold and discovered magnesium. Magnesium is a crucial element used in everything from metal alloys to propellants, but may be susceptible to Chinese price control since the country controls roughly 80 percent of the world's supply.
The Market for Molybdenum
Molycor has been active in exploration of properties in British Columbia since the early 1990s, finding considerable molybdenum deposits there along with other valuable metals. Molycor's molybdenum properties include two mines in British Columbia: the CrowRea project, discovered in 1995, and the Dobbin II Tadpole Lake Project, which has been worked since the late 1970s. Also in British Columbia, Molycor is exploring four other locations. The Dobbin I property, which has copper, platinum, and palladium claims; the Flap Project, which is a gold prospect; Windpass & Sweethome Properties, which is also a gold exploration prospect; and Beaverdell, which is a lead, zinc, and silver prospect. The completion of a recent drill program in Beaverdell featured 16 diamond drill holes that produced significant silver, copper, lead, zinc and gold values from the split diamond drill core.
Molycor Poised for Success
Molycor's properties all contribute to a growing sense of strong economic opportunity in the mining sector. Between the skyrocketing price of gold and the efforts by the Chinese to manipulate magnesium prices, efforts to ramp up North American mining operations are getting more attention than ever. Molycor's positions in Nevada and British Columbia leave it well-placed to take advantage of this promising economic trend.
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