American Sierra Gold Corp (OTCBB: AMNP) has entered a Letter of Intent to acquire a 100% interest in the Carol Project. The Carol Projects is situated in southern Sonora State, Mexico. The property contains six mineral concessions that cover 1,868 acres. The property is host to the bulk tonnage-style Balde copper-zinc-gold-silver skarns, the Escondida shear zone and high-grade epithermal vein-hosted silver and gold.
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Under the terms of the agreement, in order for American Sierra to ear 100% interest they will be required to pay the vendor US$50,000, spend $600,000 on exploration expenditures over three years and issue 500,000 shares during that period.
American Sierra Gold Corp, formerly CE Entertainment, Inc, is an American gold company. The Company focuses on the exploration and production of gold properties in North America. The Company is headquartered in Reno, Nevada. The Company’s projects include Urique Project, Urique Project, south, and Urique Project, north. The Urique Project consists of 11 concessions covering 28,880 hectares and is located in the prolific Sierra Madre gold belt of northern Mexico. American Sierra has optioned 9 % interest in the Urique Project. The Company has multiple drill sites within 10 miles of producing mines owned by Gold Corp.
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