As of September 21, 2010 Spectrum has signed an LOI with Avalon Perspectives LTD LLC, mining rights administrator for Graham Gulch Gold Mines, to begin the due diligence process prior to acquisition as a fully owned subsidiary.
As of September 21, 2010 Spectrum has signed an LOI with Avalon Perspectives LTD, LLC mining rights administrator for Graham Gulch Gold Mines of California's South Fork Salmon River Gold region to begin the process prior to acquisition. "We are pleased with the opportunities that Avalon Perspectives and its claims on Graham Gulch Gold Mines will bring to our growing consortium. These 400 acres on the Salmon River in Graham Gulch are one of the richest river systems in America." Spectrum President Dale Henry points out, "The Ancient Rivers of Gold in northern California are from the Tertiary Period. The rivers existed millions of years ago and many had large quantities of gold within their gravels". "Spectrum's interest in acquiring Avalon Perspectives and its operational administration of the Graham Gulch Gold Mines is based upon very positive values recovered on the property, upstream and downstream from the property, and on the current price of gold. This is in an area that has produced a staggering amount of gold and still to this day holds excellent reserves". CEO Dale Henry
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