Lovitt Resources Inc. is a Vancouver based Canadian Company focused upon developing a gold resource in North America and other safe jurisdictions. The premier asset of the company is its wholly-owned Lovitt Mining Company of Wenatchee, WA (“LMC”). LMC has substantial real assets 1 1/2 miles SE of Wenatchee, WA, including the Lovitt Gold Mine and the surrounding 272 fee simple acres, and two buildings each on 5 acre lots. The Lovitt Gold Mine was in production in the 1950’s and 60’s, directly adjoined by the Cannon Gold Mine, in production from 1985 to 1995. The two mines are on the Wenatchee Gold Belt (“WGB”), with LMC in the centre. The WGB has significant gold showings to date along an eight mile NE-SW trend open at both ends. We believe that higher gold price could turn the Wenatchee Gold Belt into a major gold camp. When the Cannon Mine published world class diamond drill results in 1984, 75 companies staked of leased claims, beside and for miles to the NW and SE of the Cannon properties. The Lovitt and Cannon gold mines together produced over 1.55 million ounces of gold, a gross value of over $ 2 billion at a current gold price of about $1,300 per ounce. The Company intends to eventually exploit a surface gold resource to generate income, to be followed by underground production and rehabilitation inside the Lovitt Gold Mine. The company trades on the TSX Venture Exchange with stock symbol: “LRC.V”.
- Only 9, 317,451 shares outstanding, 10,287,451 fully diluted to include outstanding options..
- Located in a favorable jurisdiction, with excellent exploration and gold camp potential.
- Close to major infrastructure: main E-W rail hub 2 miles, skilled labor pool, local power, and excellent roads.
- Mine is located on private land, with high tech surveillance to ensure privacy.
- Revenue potential in surface material adjacent to the Lovitt Mine.
- Large exploration database from past work by major mine exploration companies like Teck Corporation, Cyprus Anvil, and Asamera Minerals (US) Inc. including extensive maps, records and reports from past operations and exploration over the entire Wenatchee Gold Belt.