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Ballad Gold returns Cerro Penascudo to Golden Arrow
2008-02-19 09:20 ET - News Release
Also News Release (C-GRG) Golden Arrow Resources Corp
Mr. Anthony Beruschi of Ballad Gold reports
ARGENTINA UPDATE
As a result of legislation suspending exploration and mining activity in a geographic area that includes the Cerro Penascudo gold and silver property in Chubut province, Argentina, and uncertainty regarding if and when this legislation will cease to be in effect, Ballad Gold & Silver Ltd. is returning the Cerro Penascudo gold and silver property back to Golden Arrow Resources Corp. and cancelling its option to acquire an interest from Golden Arrow.
Ballad had worked to gain access for exploration at Penascudo after two surface rightholders challenged Ballad's rights to explore in November, 2005. After a lengthy process Ballad received a declaration from the Director of Mines refusing the surface owners' objections and allowing Ballad access to further explore at Penascudo in May, 2006. On June 30, 2006, the Chubut government passed legislation that effectively suspended exploration and mining activity for the geographic area covering the Cerro Penascudo gold and silver property.
Ballad wishes to thank Golden Arrow and especially Joe Grosso for their support, encouragement and co-operation while it held its option on Cerro Penascudo and dealt with delays. The company considers the property to be prospective but is unable to justify further payments given the uncertainty on access to explore and develop the property.
We seek Safe Harbor.
Here's part of the article that was in PR from the company yesterday...since some in this company are involved here in BGS-V..
Taylor says buy Global Hunter, hires Fulp
2007-03-27 17:10 ET - In the News
Jay Taylor in the March 15, 2007, edition of Gold & Technology Stocks tells readers to buy Rod Husband's Global Hunter Corp., trading at 22 cents. This is the first time the editor is recommending the stock in his newsletter. Global Hunter is a copper explorer with a focus on the Cordilleras of Chile and North America. Its flagship property is the La Corona de Cobre in the coastal belt of the Andean Cordillera. Based on 57 drill holes, the property contains a National Instrument 43-101 indicated resource of 114.9 million soluble pounds of copper. Mr. Taylor is eager to see the feasibility data for this La Corona de Cobre. He thinks this is an opportune time to buy, as a shareholder dispute last year caused delays and made the stock cheaper. Elsewhere in the newsletter, the editor informs readers that he has hired Michael Fulp, MS, CPG, an exploration geologist, to work as a part-time consultant for Gold & Technology Stocks. Mr. Taylor writes, "I am confident he will be worth his weight in gold (not fiat money)." The editor points out for disclosure reasons that Mr. Fulp brought Global Hunter to his attention. The new employee is a paid consultant for Global Hunter. He also owns shares.
diggg: thanks for the update...GLTY...RU
RUcrazy...Looks like J. Taylor had a nice write up on (BOB-V) in his latest news letter (took it from around .20 - .36 now)..One of our director (R.Roland) and is director of this companies also... This may help may us out down the road, if BGS settles their disputes with locals...with more exposure and credibility...Let's keep our fingers & toes cross...
http://www.globalhunter.ca/s/Directors.asp
NP..Just watch for some volume and upward movement this should IHMO will tell us a lot about this stock...If you look at 5 year chart you will see that this moved from around this price to over 1 dollar in matter of days...with gold price a lot cheaper at that time, so if they get this propery back you may see the same thing a happen again, but with much higher gold prices help move it along...Keep those fingers and toes cross...GLTY...
diggg - thanks - guess all is on hold until at least October with this one...
Ballad suspends Cerro Penascudo project
(local govt hold up my looks of it - should know more in Oct.)
2007-03-02 15:32 ET - News Release
Mr. Anthony Beruschi reports
PENASCUDO UPDATE
Ballad Gold & Silver Ltd. has been advised that the provincial government of Chubut in Argentina has passed new legislation extending the application of prior legislation that suspended exploration and mining activity in certain areas to now include the geographic area covering the Cerro Penascudo gold and silver property in Chubut province, Argentina. Ballad's Argentine representatives have now confirmed that no exploration or development can be conducted at Cerro Penascudo while the legislation is in effect.
Ballad had been carefully working to gain access for exploration after two surface rightsholders challenged Ballad's rights to explore at Penascudo. After a lengthy legal process, Ballad is pleased to report it has received a declaration from the director of mines refusing the objections of the surface owners and allowing Ballad access to further explore at Penascudo. Exploration is now subject to the new legislation.
Ballad believes strongly in the exploration potential of Penascudo. Ballad is monitoring the legislation and has been advised that it may be favourably changed after October, 2007, local elections, in order to allow certain areas to be exempted from the mining and exploration ban.
Ballad has made the government property maintenance payments for the first half of 2007. As a result of the legislation, Ballad has obtained a deferral of the exploration expenditures requirements from the optionor, Golden Arrow Resources Corp., to nine months after the expiry of the legislation banning exploration and mining at Cerro Penascudo.
The Penascudo gold and silver project is defined by its high-grade gold and silver values at the El Rey vein. Prior exploration by Ballad at the El Rey vein returned chip samples as high as 1,365 grams per ton (39.81 ounces per ton) gold and 1,730 grams per ton (50.46 ounces per ton) silver within a 35-centimetre-wide vein (true width). As previously reported by Ballad, sampling within this vein has ranged from 0.083 gram per ton gold to 1,365 grams per ton gold, while silver has ranged from 1.5 grams per ton to 1,730 grams per ton.
Ballad has the right to earn up to a 70-per-cent interest in the project from Golden Arrow, subject to a 1.5-per-cent net smelter return royalty by incurring $1.8-million (U.S.) in exploration expenditures on the property, a $300,000 (U.S.) payment and issue of 500,000 shares. Ballad can earn a further 15-per-cent interest for a total of 85 per cent by financing a feasibility study.
We seek Safe Harbor.
RUcrazy - Speaking of BSG mang. & ULU..this came out today...My guess is that if this stock does well, it should help ballad down the road...
Ultra Uranium to drill 4,000 m at Kalnica-Selec
2007-02-13 14:37 ET - News Release
Mr. Raymond Roland reports
ULTRA URANIUM RECEIVES 43-101 TECHNICAL REPORT ON SLOVAK URANIUM DEPOSITS
Ultra Uranium Corp. has received a National Instrument 43-101-compliant technical report on Ultra Uranium's Kalnica-Selec uranium project located in western Slovakia, authored by independent geologist Dr. Bohumil (Boris) Molak, PhD, PGeo (British Columbia), a qualified person under National Instrument 43-101.
The Kalnica-Selec uranium deposits were extensively explored and developed by the former Czechoslovak government's Uranovy Prieskum State Enterprise (UP). The February 43-101 technical report summarizes UP's exploration results obtained by Ultra from the UP archives. Exploration and development by UP on this 28.91-square-kilometre property in the 1970s and early 1980s included radiometric surveys, geological mapping, extensive pitting and trenching, vertical and horizontal drilling, and tunnelling.
A total of 339 vertical drill holes were drilled from surface to test the uranium mineralization. Of these, 171 holes were drilled to a maximum depth of 100 metres and 168 diamond drill holes were drilled to a maximum depth of 680 metres. Three adits with numerous crosscuts, in all totalling more than 2,900 metres, were driven into the Kalnica and Selec mineralized zones. Small-diameter horizontal drilling was conducted from the underground workings.
UP conducted test mining of the mineralized lenses from the adits and the mined material was shipped to a processing plant in Mydlovary, in the Czech Republic. In 1984, UP abandoned the Kalnica-Selec deposits due to low uranium prices. The Kalnica-Selec uranium property was acquired by Ultra in 2005 through successfully filing a uranium exploration application with the geological section of the Ministry of Environment of the Slovak Republic.
In 2005 and 2006, Ultra conducted radiometric surveys, geological mapping, structural studies and minor litho-geochemical sampling in the southern and northern portions of the licence area, in compliance with Slovak government exploration requirements. Anomalous radioactivity was detected in areas surrounding the exploration adits, and in the south and southeastern extremities of the licence area. In the Selec zone, an almost-one-kilometre-wide anomalous strip running north-south was detected. The highest values, exceeding up to 23 times the average background values, were obtained from the outcrops adjacent to adit 62. These anomalies indicate outcropping and/or near-surface uranium mineralization and some of them represent additional exploration targets to the numerous existing targets.
Geologically, the 2005 and 2006 structural studies confirmed the presence of distinct, superimposed deformation related to the late Mesozoic and/or early Tertiary collisional events. Deformation processes resulted in folding, thrust faulting, shearing and myllonitization, which have a strong impact on the redistribution of the uranium mineralization.
Historical exploration
Numerous uranium-mineralized bodies were discovered and reported in 1960s to 1980s by UP in two stratabound units at Kalnica-Selec. Based on historic information the mineralized bodies are as much as 300 metres along strike, up to 6.6 metres wide and up to several hundred metres along dip. A total of 23 uranium mineralized bodies were identified in three separate zones within the two stratabound units, 15 uranium-mineralized bodies at Kalnica, seven uranium mineralized bodies at Selec and one large uranium mineralized body at Krajna Dolina.
Historic resource estimates
The historic resource estimates were calculated by UP using 0.015-per-cent, 0.03-per-cent and 0.05-per-cent uranium cut-off grades for the Kalnica and Selec zones, and a 0.015-per-cent uranium cut-off grade for the Krajna Dolina zone. Estimates for the Kalnica and Selec zones were based on blocks delineated by deep and shallow drill holes that were drilled from surface, by the exploration adits and crosscuts, and by short, narrow-diameter, horizontal underground drill holes to a maximum of 100 metres drilled from within the adits. The resource estimate for the Krajna Dolina zone was based on four positive drill holes in a grid 400 by 400 metres. A summary of the resource estimate based on a 0.015-per-cent uranium cut-off and converted to pounds is shown in the table.
Zone Cut-off grade Thickness Volume Tonnage Grade U U U3O8
(%U) (m) (m3) (t) (%U) (t) (lb) (lb)
Kalnica 0.015 4.6 204,801 548,866 0.043 236.0 520,144 613,377
Selec 0.01 3.5 289,619 776,179 0.035 271.2 597,725 704,864
Krajna
Dolina 0.015 3.1 982,000 2,632,000 0.061 1,605 3,537,420 4,171,486
Total 0.015 *3.4 1,476,420 3,957,045 *0.053 2,112.2 4,655,289 5,489,727
*Weighted average
The resource estimate cited predates, and therefore does not conform to the more stringent reporting requirements of National Instrument 43-101 and should not be relied upon according to those standards. Ultra is not treating the historical estimate as a current mineral reserve or resource. While the drill and assay data used in the original estimate have not been subsequently verified, Ultra believes that the historic resource estimate provides a favourable indication of the potential of the deposit and is relevant to this news release.
These historic uranium estimates at Kalnica and Selec were limited to areas within and adjacent to the adits, and significant areas with uranium mineralization were not included in the calculations because UP decided to abandon the area in 1984 before such estimates could be made.
Thus, in the Kalnica zone, only five mineralized bodies occurring within the first 200 metres of the adits 60 and 61 were included in the historic resource calculation while another 10 mineralized bodies situated to the northeast of the calculated block were not included in the estimate, although they were all well defined by many intersections in the adits, crosscuts, and by surface and underground drilling.
Furthermore, at the Kalnica, Selec and Krajna Dolina zones, many drill holes with significant mineralization situated outside the calculated blocks were not used in the historic resource calculations even though exploration works and geological interpretations indicated structural and grade continuity between these holes and the mineralization inside the calculated blocks.
At a cut-off grade of 0.015 per cent, the total historical resource for the three zones is 4,655,289 pounds U or 5,489,727 pounds of U308, respectively. The categories of historical resources are comparable with the inferred resources in the CIM classification and must be confirmed by further drilling and a follow-up, 43-101-compliant, resource estimate.
Recognizing that the historical resource estimate of 5,489,727 pounds of U308 was calculated from only a portion of the existing historical positive exploration results, the Kalnica-Selec project represents an excellent exploration target with a potential not only to confirm the historical uranium resources, but also to find additional uranium resources in the extensions of the historic estimate blocks.
Ultra Uranium's geologists are planning an initial drill program of approximately 4,000 metres, consisting of confirmation, fill-in and limited step-out drilling within and outside of the historic grid. The drill program's objective is to confirm historic results and provide new data for a 43-101-compliant uranium resource estimate that, if successful, would add to the historical resource calculations from both existing exploration results that were not included in the prior calculations and extension of mineralized areas.
Ultra Uranium has completed its $3.6-million financing through issuing three million units at $1.20 and is well financed for exploration. Ultra plans to conduct its drill program as soon as possible. The drill program will have the benefit of local drilling contractors, logistical support and excellent infrastructure.
Ultra Uranium has also filed an application for an additional licence area immediately south and west of the Kalnica-Selec property. Several historic drill holes in the area south of the licence intersected significant uranium mineralization, indicating that the mineralization continues in a southerly direction.
All factors cited above lead the company to believe there is considerable potential to significantly expand the historic resource estimates and the company is looking forward to continuing exploration on the property.
The Kalnica-Selec uranium property is 100 per cent owned by Ultra Uranium, subject to a 2-per-cent royalty
Hi there . We have done some business with them in the past and I use to talk to them - every so often....Tony was promoting this property very aggressively a few years back and had some very good movement upward, because of some very very promising drill results - then (the think) the local govt started play games with them ( people think Russia bad! lol) - he told me the story, but I forgot most of it...So, they back off promoting it till events got settled...and they started working on their other projects (ULU by the looks)....As you can see with his ULU (look at charts) he likes a tight structure in his stock and moves them fast, usually over a few days..He's a smart, crafty man - hold his cards tight...So, keep a close eye - BGS...Again, when he moves his stocks - he will move them fast! It hard to say when he will move it. My guess is depends (if?) they get all the problems settled....
He also maybe trying to shake out some shares right now....by being quiet on corp news...But, I not 100% sure at this point...so just watch it closely...I think he may want to move it up - down the road , because his name is attached to it...GLTY
diggg - thanks for the info. Ho wdo you know TOnay and Ray. I do not know them at all. I just stumbled across this company when I was doing some DD a while back trying to find undervalued PM companies with potentially explosive prospects.
So far, this seems to be a dud, but if and when they ever throw some money into these properties (and surrounding areas), it could be a beautiful thing.
FYI - I have no position in the stock at this time.
I am still waiting for AURC to explode, after that I may put some small percentage of my profits into a core position of BGS.V...GLTY...RU
Hey, RUcrazy just check out your profile here...
I know Tony - smart promoter/lawyer & his partner Ray R (nice man & banker)..They seem to get good properties and raise money when they need it..Also, their stocks usually are very tightly held, which can be good and bad - depending when you buy in...Looks like he's moving his other stock right now, probably must of his energy...Which may help this one down the road..
http://ultrauranium.com/contact.html
Also, other one of his properties
http://www.globalhunter.ca/s/ContactUs.asp
Has anyone been able to contact the president at the contact info listed?
Anthony J. Beruschi, President and Director
Telephone Number: (604) 682-7159 or 1-888-880-2288 2288
Email: ajb@balladnet.com or ir@balladnet.com
I have tried to e-mail and call him for several months with no success.
I am curious if there is any progress on the promising properties they claim to have a significant interest in.
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