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rcfe* completes name change to Bit-X Financial Corp
Announce new venture:
Bit-X Financial Announces Exclusive Bitcoin Exchange & Services Agreement with Hong Kong Based ANX
VANCOUVER, BC / ACCESSWIRE / April 1, 2015 / Bit-X Financial Corp. (OTCQB: BITXF) today announced that it has executed an Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX. The proprietary ANXPRO trading and matching engine manages high volume, high throughput, and low latency trading and was modeled on the same technology recently leveraged by the worlds largest Investment Banks. It also features blended multi-currency settlement in addition to real time FX pricing and risk management.
Under terms of the agreement, ANX will develop a white-label crypto-currency exchange utilizing ANXPRO's world-class proprietary trading platform. The agreement includes technical, development and support services to Bit-X and its registered users worldwide.
"The ANXPRO proprietary trading engine is a critical component to our business," said Brad Moynes, President of Bit-X Exchange. "This agreement with ANX enables us to instantly offer crypto-currency services to our customers utilizing a proven technology platform and relying on the operations of a well-established brand and a very experienced team."
Functionality of the Bit-X Exchange will include deposit and withdrawal services for multiple fiat currencies, payment processing via Vogogo Inc. services, trading exposure to Bitcoin, Ripple, Litecoin, Dogecoin and Stellar while leveraging the established global liquidity order book; developed and managed by ANX.
"This is a win-win for crypto-currency exchanges and the eco-system as a whole," said Dave Chapman, COO of ANX. "We are delighted that Bit-X has selected ANX as their preferred white-label provider by surpassing their technology and operational requirements."
In addition to the development and management of the Bit-X Exchange, ANX will notify its19,750+ existing North American users to instantly migrate to the new Bit-X Exchange which has a go live date within 60 days.
ABOUT BIT-X:
Bit-X Financial Corp is a Vancouver based Company listed on the OTC.QB under the trading symbol BITXF. The Company has announced an exclusive agreement with Hong Kong based ANX to develop a crypto-currency exchange and to provide ongoing technical, development and support services to registered users worldwide. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC".
ABOUT ANX:
Founded in June 2013, ANX has grown into one of the most used Bitcoin exchange platforms worldwide. ANX is one of the largest and most diverse Bitcoin exchanges in the world. It is a pioneer and leader in the crypto-currencies industry. ANX's achievements to date include introducing the world's first multi-currency online Bitcoin exchange platforms (ANXPRO.COM & ANXBTC.COM), the world's 3rd Bitcoin ATM machine, and a full-featured ANX Vault mobile app for crypto-currencies. ANX recently acquired troubled Bitcoin exchanges Norwegian based JUSTCOIN.COM and US based COINMKT.COM to expand into the European and North American markets. ANX was one of the first firms specializing in crypto-currencies to be issued with a Money Service Operator (MSO) license and prides itself on its transparency and regulatory compliance. The founding partners have financial markets, management consulting, banking technology and compliance backgrounds.
CORPORATE CONTACT INFORMATION:
Bit-X Financial Corp
838 West Hastings Street, Suite 300
Vancouver, BC V6C-0A6
Canada
Tel: +1(604) 200-0071
Fax: +1(604) 200-0072
www.bitxfin.com
Media inquiries:
Bit-X Financial Corp
Brad Moynes
press@bitxfin.com
ANX
Jess Chan
press@anxintl.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Bit-XApr12015.pdf
Wednesday, February 18, 2015 - 3:45 PM EST
Rainchief Energy Name Change to Bit-X Financial Corp Approved Effective Date 2/19/2015
Vancouver, British Columbia (FSCwire) - Rainchief Energy Inc. (OTCQB: RCFEF) (the “Company”) today announced that its corporate name change has been approved by FINRA.
Rainchief Energy Inc has changed its name to Bit-X Financial Corp:
New Name: Bit-X Financial Corp.
New CUSIP: 091750109
New Symbol: BITXF
Daily List Announcement Date: 2/18/2015
Market Effective Date: 2/19/2015
The Company will focus on licensing, developing and branding an innovative digital exchange trading platform and peer to peer electronic payment processing network that will allow users to buy and sell fiat currencies, alternative currencies and crypto-binary options in real time. The Company will operate under the domain www.bitxfin.com and anticipates the platform launch in Q2-2015. More information will be made available as it materializes.
CORPORATE CONTACT INFORMATION:
Rainchief Energy Inc.
838 West Hastings Street, Suite 300
Vancouver, BC V6C-0A6
Canada
Tel: +1(604) 200-0071
Fax: +1(604) 200-0072
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/rainchief02182015.pdf
Traders watch for more signs of economic stall in week ahead
Cross currents caused by weak economic data and the resulting speculation about delayed Fed rate hikes are buoying the stock market.
But those trends could cause turbulence when central bank minutes and a batch of housing and other data are released in the week ahead.
The run of soft economic data in the first quarter has now clearly spilled into the second quarter, with some disappointing misses in just the past week in retail sales, producer price inflation data, industrial production and consumer sentiment. Those misses helped push market expectations for a first Fed rate hike past December and into January, with fewer market players now betting on a September rate increase.
Billionaire hedge fund manager John Paulson seems to be unphased by gold’s rocky ride.
The investor kept his stake in the world’s biggest exchange-traded fund backed by bullion unchanged as of March 31, maintaining his holding for a seventh straight quarter, a government filing showed Friday.
Paulson is sticking with gold even though it’s proven to be a fickle asset. The metal swung between gains and losses more than 10 times in 2015, gyrating as traders tried to nail down the timing of U.S. interest-rate increases. Other investors have stayed away. Holdings in the SPDR Gold Trust that the billionaire prefers are down about 7 percent in the past 12 months, and tumbled 31 percent in two years.
“Gold is being neglected since everyone is waiting for news on the timing of the rate hike, and also as equities are doing so well,” Lance Roberts, who helps oversee $600 million as chief strategist for STA Wealth Management in Houston, said in a telephone interview. “There is very little interest since people don’t see the need to hedge against inflation or any fear.”
Paulson & Co., the largest holder of the SPDR Gold Trust, owned 10.23 million shares in the three months ended March 31, the filing showed. Paulson uses the ETF to back his funds’ gold share classes, which offer holdings denominated in bullion for investors interested in decoupling their assets from the value of the dollar.
Gold futures for June delivery climbed 10 cents on Friday to settle at $1,225.30 an ounce on the Comex in New York. The precious metal rose 3.1 percent for the week.
May Rebound
Prices have climbed 3.6 percent in May, recovering from three straight monthly declines. The metal’s rebound has been spurred by signs of a cooling U.S. economy. Weaker growth in a boon for gold because it’s often sought as a haven and because slower expansion could push the Federal Reserve to wait longer before raising rates.
Futures dropped 29 percent in the previous two years as the dollar surged and inflation remained muted. The outlook for higher borrowing costs has also prompted investors to favor assets with better yield prospects, such as equities. The Fed is watching for signs that the economy can sustain higher interest rates for the first time since 2006.
Armel Leslie, a spokesman of New York-based Paulson & Co. with Peppercomm, declined to comment on the filing.
Gold could drop to levels of $1,150/oz as demand slackens
May 15, 2015:
Gold prices have come under increasing pressure in recent days. Major drivers of the precious metals market namely physical demand, investment demand and currency are at best neutral.
Last Friday saw physically-backed gold ETP holdings fall by over 10 tonnes, the largest daily decline in the last one year. Despite that, inflows to date since the beginning of this year are an estimated 34 tonnes. Current holding are an estimated 1,745 tonnes.
However, it is important to note that given that a large part of the inflows occurred in January and February, most of the holdings are currently loss making. This suggests that holdings are vulnerable and more outflows cannot be ruled out.
A slight weakening of the dollar has provided some support; weak US macro data have not helped its cause. Positive payroll results last week – non-farm payrolls rebounding by 223,000 and private payrolls rising by 213,000 – are a shot in the arm. Data relating to retail sales and consumer sentiment have been mixed.
Physical demand too is not exactly robust with two of the world’s largest markets China and India not showing signs of demand growth. Traders see a further weakness in China’s appetite for the yellow metal as evidenced by easing trade volumes on the Shanghai Gold Exchange. Interest in India remains modest and the recent weakening of the rupee to 64 to a dollar has effectively raised local prices.
In addition, with the marriage season coming to a close and the likely onset of monsoon in about two weeks, demand conditions will turn dull until harvest time in September. Given these factors, it should come as no surprise if gold prices trend lower towards $1,150/oz levels. At that level, there could possibly be some revival of demand for the metal.
(This article was published on May 15, 2015)
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Thursday, 5/07/2015 17:00
Pick palladium over platinum if you must. Watch a Dollar stumble to buoy gold...
MIKE McGLONE is director of US research for ETF Securities, the exchange-traded fund provider.
Leading US-based commodity research and strategy focused on the precious metals, McGlone speaks here to Hard Assets Investor's managing editor Sumit Roy about the current outlook...
Hard Assets Investor: Gold prices didn't move much last year and they haven't moved much so far this year. Why do you think that is?
Mike McGlone: In US Dollar terms, gold has been resilient despite the strength in the US Dollar. In terms of most other currencies, gold has strengthened. Gold is often considered the quintessential currency and/or the primary currency without counterparty risk, so it is significant that gold appears to be not moving much; particularly since the US Dollar has experienced one of the highest-velocity rallies since the early 1980s. The implication is if/when the US Dollar rally stumbles, gold should be a primary beneficiary.
HAI: With the Fed hinting that it may raise rates this year, can gold rally or is it more likely to decline?
Mike McGlone: Fed-tightening rhetoric has been a pressure factor on gold the past few months. Historically, the price of gold has actually performed better during tightening cycles than easing cycles. The most recent example was the last tightening cycle from June 2004 through June 2006. Gold increased about 50% during this period. Tightening normally has coincided with inflation, which has been notably absent in this Fed-tightening "hinting" phase.
The word "hinting" is key, as the anticipation of Fed tightening in an environment that appears more deflationary than inflationary has been pressuring gold. Historically, the primary reason for Fed tightening has been to suppress inflationary forces. Inflation has historically been good for gold. The Fed and its tightening rhetoric appear to be somewhat fearful of the run-up in equity prices and may be trying to prevent excessive irrational exuberance (Fed governors Bullard and Dudley have explicitly mentioned such).
Similar to the consensus at the beginning of 2014 that interest rates and commodities would rise, the consensus at the beginning of 2015 of Fed tightening is at risk of being incorrect. If the Fed begins a tightening cycle without clear inflationary signs, notably from the US bond market, it is then likely the price of gold would suffer – at least in the short term. However, the Fed appears to be doing a good job of warning the market about a potential rate hike which may be already priced in.
If the Fed does not hike, gold should benefit, especially if it refrains from tightening due to a long overdue correction on the stock market. In this case, the alternative asset gold would likely prevail. A worse case potentially for gold with Fed tightening could be if no inflation shows after the cycle begins and the stock market continues to rally. A Fed misfire – they tighten then have to take it back – would likely benefit gold, similar to what happened to the ECB in 2011.
HAI: Platinum hit a five-year low earlier this year; why is that? Aren't supplies tight following the South African strikes of last year?
Mike McGlone: Key pressure factors for platinum have been the weaker Euro, recession in Europe and the overall plunge in most industrial commodities. Platinum trading below the price of gold has historically been a bullish factor for platinum, notably due to the demand for platinum jewelry in China, now about 25% of total platinum demand. The latest China platinum import figures are encouraging: up 26% in March 2015 from March 2014.
However, on a 12-month basis, China platinum imports show the fall-off in demand which has suppressed prices the past 12 months. Supplies are tight. Platinum is expected to remain in deficit again this year. But the market and supply have recovered from last year's strikes. In the longer term, it is unlikely platinum will be able to sustain current low prices, as most analysts estimate the cost of production at much higher levels.
HAI: Is platinum or palladium the better buy?
Mike McGlone: Hard to say, as platinum appears rather cheap and palladium has been one of the best performers among most commodities the past few years. Platinum should be well-poised to be a primary beneficiary of a potential recovery and increasing auto sales in Europe (diesel- and platinum-focused). Palladium remains a primary beneficiary of increasing auto sales in China and most emerging markets (more gasoline-focused). We like them both. However, we do not expect the longer-term trend of palladium outperforming platinum to shift.
HAI: Is there anything else you'd like to add?
Mike McGlone: Inflation expectation is the primary reason the Fed has increased rates in the past. One of the best forward-looking indicators of future inflation is the bond market. Until – or unless – the US bond market begins to price for increasing inflation (ie, the US 10-year sustaining above 3%), the Fed probably should not consider beginning a tightening cycle.
CEO PETER HOGENDOORN RESIGNS - NEWS
JAU.v website link to news:
http://jetgoldcorp.com/latest-news/resignation-of-chief-executive-officer-cancellation-of-special-meeting/
Watching Indo Terra as he is a Director there but the CO. is private:
http://www.indoterra.com/
Always do your own dd and seek professional advice from a registered representative before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
NEW 52 WEEK LOW .005
JET GOLD New 52 Week Low .005
Always do your own dd and seek professional advice from a registered representative before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
52 WEEK LOW .01 Bid .005 TO .01
JAU.v 52 WEEK LOW .01
Current Bid .005 To .01
Always do your own dd and seek professional advice from a registered representative before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
Gold and silver were higher for the week until the Labor Department early Friday reported a stronger-than-forecast 195,000 rise in June non-farm payrolls, along with upward revisions for May and April. The market then turned south, with the most-active August futures finishing the week with a loss of $11 to $1,212.70 an ounce on the Comex division of the New York Mercantile Exchange. September silver lost 73.4 cents for the week to $18.736.
Gold traders are likely to remain preoccupied next week with thoughts about when the Federal Reserve might scale back its quantitative-easing program, although the ongoing conflict in Egypt and exchange-traded-fund flows also will be on their collective radar.
Gold fell as investors wait for U.S. jobs data that may provide clues to the Federal Reserve’s plans to taper stimulus and the euro slid after the European Central Bank pledged to keep interest rates low for an extended period.
Gold In US Dollar per ounce - (GOLD)
Refresh
Real-time: 23:04:22 ET Change: -8.30(-0.66%)
Bid: 1244.20 High: 1256.50
Ask: 1245.20 Low: 1241.40
NEW 52 WEEK LOW .015
JET GOLD New 52 Week Low .015
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Good day,
BITW
52 WEEK LOW .02
JAU.V 52 WEEK LOW .02
Always do your own dd and seek professional advice from a registered representitive before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
NEW 52 WEEK LOW .025
JAU.V NEW 52 WEEK LOW .025
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Good day,
BITW
52 WEEK LOW .03...........
52 WEEK Low JAU .03 4/17 2013
We are currently evaluating cash on hand /burn evaluations, IR/consulting payments in sedar
filings for past years and % of those funds spent year over year ie: in ground dollars vs promo dollars.
Always do your own dd and seek professional advice from a registered representitive before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
NEW 52 WEEK LOW .045 Jet Gold Corp
Always do your own dd and seek professional advice from a registered representitive before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
InvestorsHub.com
Subpoena Policy
InvestorsHub.com, Inc. ("iHub") will only release user account information with valid legal process such as a search warrant, subpoena or court order. If you are seeking such identity or account information in connection with a civil legal matter you must serve iHub with a valid subpoena. This information can only be obtained by a properly issued subpoena served upon our registered agent:
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In addition to serving our registered agent, sending an electronic version of the subpoena and related documents by email to legal@investorshub.com will often result in a more timely response.
Subpoenas issued by Federal Regulatory and Law Enforcement Agencies
Dig4 your world is about to get real small your slanderous cockroach.
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And Bear=L the cable guy, your next pal.
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Why Junior Miners Are Struggling To Survive
PDAC was a shorters paradise in the Junior space. Sells into any green appear to be the norm even with tight structure or not. LOT and QIT are evidence of such since Friday.
Stockhouse article below:
Why Junior Miners Are Struggling To Survive:
http://www.stockhouse.com/columnists/2013/march/7/why-junior-miners-are-struggling-to-survive
JAU News March 5th - 146k raised of the proposed 400k
http://jetgoldcorp.com/latest-news/jet-gold-receives-big-hammer-gravity-testing-results/
In addition, the Company closed a unit private placement previously announced Nov 26, 2012. Total proceeds raised were $146,000 on issuance of 1,460,000 units which included one half of one share purchase warrant exercisable $0.15 for a period of two years. The proceeds are for working capital, no finder’s fees were paid and closing is upon final exchange approval. The Company anticipates the announcement of additional funding and more information will be provided as it materializes.
Stockwatch March 1st:
TSX Venture a "zombie" wasteland - Danny Deadlock plus comments
http://www.stockhouse.com/opinion/ticker-trax/march/tsx-venture-a-zombie-wasteland--stockhouse-tickert
Always do your own dd and seek professional advice from a registered representitive before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
.06 cent paper............
331,300 traded since Feb 4th and the .06 paper was free trading
Feb 3rd according to the release
http://jetgoldcorp.com/latest-news/jet-gold-closes-private-placement/
Another raise was announced For Release November 26, 2012 - Vancouver, BC – Jet Gold Corp. (TSX-V: JAU) (the “Company”) announced today a non-brokered Private Placement consisting of 4,000,000 units of the Corporation (the “Units”) at a price of $0.10 per share for gross proceeds of $400,000. The units shall consist of one common share and one-half share purchase warrant with a term of 24 months and an exercise price of $0.15.
http://jetgoldcorp.com/latest-news/jet-gold-arranges-private-placement-2/
Jet announced the closing of the first on their website but not the second. Will continue to watch this develop as to cash position and dilution. Kaiser in his opinion calls this "Zombie Land"
http://www.theaureport.com/pub/na/15015
I don't see Jet listed to have a presence at PDAC. Airfare/hotels
and dinner at KI don't come cheap. Probably a good idea.
http://www.pdac.ca/pdac/conv/index.aspx
Always do your own dd and seek professional advice from a registered representitive before acting on anything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
Mr. Peter Hogendoorn, Harold C. Moll,
XLR medical and NS8 Corp NSEO - otcbb 0.0001
http://www.secinfo.com/d1Ze2u.12z8.htm
http://www2.canada.com/vancouversun/columnists/story.html?id=57aa4c52-c990-4c3c-8378-88cc767854ca&p=2
Always do your own dd and seek professioal advice from a registered representitive before acting on aything read on the Internet. This is for information purposes only and based on public information readily available to anyone.
Good day,
BITW
Beware anyone buying this stock. Brad Moynes ran his other so called company rcfe* into the ground. Now sub-penny!!
Jet Gold is doing great as of late , New CEO and all else, hopefully this gives Brad Moynes more time for his other projects like RCFEF.
Alerted TSX:JAU @ .07 in September now .15
JEtt GOld : now at .15 from .07
http://sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00005247
Jet Gold Corp. (TSX VENTURE:JAU)
Brad J. Moynes, President & CEO
Contacts:
Jet Gold Corp.
Brad J. Moynes
Brad Moynes, Jet Gold President stated, "Mr. Docherty's success and experience in the identification, evaluation, acquisition and financing of mineral resources projects in North America will be an extremely valuable asset to Jet as the Company works to continually build shareholder value."
Concurrent with Mr. Docherty's appointment, the Company also announced the resignation of Mr. Robin Lecky from the board of directors effective Aug 16, 2012. The Company thanks Mr. Lecky for his services and wishes him success in his future endeavors.
On behalf of the Board of Directors,
Jet Gold Corp. (TSX VENTURE:JAU)
Brad J. Moynes, President & CEO
Contacts:
Jet Gold Corp.
Brad J. Moynes
Wed Feb 23, 2011
Jet Gold Appoints Docherty to Board
--------------------------------------------------------------------------------
February 23, 2011 - Brad J. Moynes, President of Jet Gold Corp., (the "Company") (TSXV: JAU) is pleased to announce that Mr. Tyrone Docherty has been appointed to the Board of Directors of the Company.
Mr. Docherty is the President & CEO of Deer Horn Metals (TSXV: DHM) a high-grade tellurium, gold, tungsten and molybdenum property located in British Columbia Canada. Previously, Mr. Docherty held the position of President & CEO of Quinto Mining, where he raised more than $30 million and advanced a Quebec iron ore property to a viable project that was later sold to Consolidated Thompson Iron Mines in June 2008 for $175 million. Consolidated Thompson Iron Mines eventually sold to Cliffs Resources for $4.9B.
Mr. Docherty has been involved in the financial markets for over 20 years and attributes his success to relationship building, trust and honesty.
On behalf of the Board of Directors
Jet Gold Corp
"Brad J. Moynes"
Brad J. Moynes
President
Investor Contact:
Brad Moynes, President
604-687-7828
Jetgoldcorp@shaw.ca
www.jetgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
http://www.jetgoldcorp.com/s/NewsReleases.asp?ReportID=444000&_Type=News-Releases&_Title=Jet-Gold-Appoints-Docherty-to-Board
Share Struture:
Fri Feb 26, 2010
Share Structure
Shares Issued: 29,910,968
Options: 2,915,000
Warrants: 2,400,000
Fully Diluted: 35,225,968
http://www.jetgoldcorp.com/s/ShareStructure.asp
Jet Gold gets Docherty to serve on board of directors
2011-02-23 09:24 ET - News Release
Mr. Brad Moynes reports
JET GOLD APPOINTS DOCHERTY TO BOARD
Tyrone Docherty has been appointed to the board of directors of Jet Gold Corp.
Mr. Docherty is the president and chief executive officer of Deer Horn Metals, a high-grade tellurium, gold, tungsten and molybdenum property located in British Columbia, Canada. Previously, Mr. Docherty held the position of president and chief executive officer of Quinto Mining, where he raised more than $30-million and advanced a Quebec iron ore property to a viable project that was later sold to Consolidated Thompson Iron Mines in June, 2008, for $175-million. Consolidated Thompson Iron Mines eventually sold to Cliffs Resources for $4.9-billion.
Mr. Docherty has been involved in the financial markets for over 20 years and attributes his success to relationship-building, trust and honesty.
http://stocksjournal.com/
BarChart = STRONG BUY.
http://barchart.com/opinions/stocks/JAU.VN
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The Company's officers, directors, project geologists and consultants combine to form a group of trained professionals with years of successful natural resource company financing, exploration and production experience.
President & Director
Brad Moynes has been instrumental in developing the corporate structure required to meet future business development and financial requirements of the company as it commences its exploration and drilling programs on the Big Hammer Gold, Silver Bay and Kshish Copper properties. He brings to Jet Gold over 15 years of public finance and corporate management experience and has served as a Director of several public companies that focus on the Canadian natural resource sector; including gold, silver, zinc, petroleum and other industrial metals.
Consulting Project Geologist
Alex Burton is a professional geologist and engineer with over 50 years of extensive experience in mining exploration and development. After holding management positions with Noranda, Copper Range Exploration and Phelps Dodge (Canada), he formed his own mining consulting company in 1974. He is considered an expert in geology and geochemistry and has planned and supervised numerous field programs for many companies on diverse types of mineral properties in many different countries. He has extensive experience in setting up major exploration programs and bringing mineral deposits into production. Mr. Burton teaches the placer mining courses for BCIT/BC & Yukon Chamber of Mines and is a founding member of the Association of Exploration Geochemists. He is a member of other professional associations and has held executive positions with them.
Big Hammer Gold
Mr. Strachan, with more than 35 years as an Economic Geologist and Hydrogeologist, has acquired extensive experience from all corners of the globe. Mr. Strachan graduated with a Bachelor of Arts, Geology in 1973 from California State University, Fresno and received his Masters in geology from New Mexico Institute of Mining and Technology, Socorro in 1976. In late 2009, Donald visited the Big Hammer property and prepared an internal report on the gold and tellurium potential which inspired the Company to move forward vigorously to the next stage of development.
Chief Financial Officer
Mr. Cheung graduated with a Bachelor of Commerce in International Business in 2002 from the University of Victoria, and has been an active member of the Institute of Chartered Accountants of British Columbia since January 2008. Mr. Cheung spent several years, from September 2003 to May 2008, in public accounting practice providing assurance, tax and business advisory services. In September 2008, he founded Midland Chartered Accountants Ltd. in Vancouver, B.C. Mr. Cheung also serves as a Director and/or Officer of other Canadian public mining companies.
Director
Mr. Docherty brings over 25 years of mining industry, resource management and successful finance experience to the Company. In 1997 Mr. Docherty became President and CEO for Quinto Mining Corporation which was actively involved with numerous resource properties in Quebec. Quinto's flagship properties Peppler Lake/Lamêlée iron ore and Lac Guéret graphite attracted the attention of Consolidated Thompson Iron Mines who were looking to impact the iron ore industry in Quebec. Consolidated Thompson purchased Quinto for approximately $175 million in 2008. Following the 2008 sale of Quinto, Mr. Docherty became President, CEO and a Director of Deer Horn Metals. In this capacity Mr. Docherty was responsible for day-to-day management of the company's affairs including administration and investor communications. Most recently, Mr. Docherty became the Chairman of the Board and Director of Mason Graphite which owns a 100% interest in the Lac Gueret graphite property located in the Cote-Nord-Nouveau-Quebec region in northeastern Quebec. On July 16, 2012 Mason Graphite entered into an amalgamation agreement with POCML 1 Inc. ("POCML1″) (LMP.P) and subsequently on August 12, 2012 completed a $5 million financing.
Director
Blaine Bailey received his Bachelor of Commerce degree (Honours) from the University of Manitoba in 1977 and qualified for the CGA designation in British Columbia in 1983. He has served in the capacity of accountant for Molson Brewery (BC), controller for Nabob Coffee and is currently CFO and Director of Qumana Software Inc. (Formerly ThoughtShare Communications Inc.) He is a management consultant specializing in providing financial and administrative services for medium to small public and private companies.
Legal Counsel
Peter Jensen serves as the company's corporate and legal advisor and is a member of the Bacchus Law Group. He has broad international legal counseling experience and a depth of knowledge in trans-border transactions for Canadian and US companies wishing to become US or Canadian reporting and trading issuers. He also has extensive experience in conducting legal affairs for clients in the Orient, Europe, Africa and Latin America and has served as a director of companies with capitalization in the hundreds of millions of dollars.
Big Hammer occurs along the western margin of the Intermontane Belt, adjacent to the Coast Crystaline Belt. Basement rocks include Carboniferous intrusive which, in turn. includes the andesites, basalt breccias, and basalt flows of the Mt. Attree Volcanics. The basement rocks are intruded by Late Jurassic granodiorite and granite of the Kleanza pluton and the non-foliated Eocene granite of the Williams Creek Pluton. The mineralization occurs within in a late Carboniferous, Mississippian intrusive unit which is foliated diorite, granodiorite, tonalite and metagabbro.
Big Hammer's Au-Ag-Te mineralization was first discovered on new logging road cuts in 2007 within a thick series of sheeted, low-angle quartz-pyrite veins. Host rocks are Carboniferous granitics and possibly altered basement volcanics. The multiple Big Hammer Au-Ag-Te showings are also anomalous in lead (Pb), copper (Cu), zinc (Zn), cobalt (Co) and tungsten (W).
A sulphidic zone at 800 meters elevation and approximately 5m thick, has similar geometry to the 380 and 625 veins. Silver and also cobalt, cesium, rhenium and selenium are anomalous in the 800 vein.
SILVER BAY INTRODUCTION
Jet Gold Corp (the "Company", JAU.V) controls up to 75% of the Silver Bay property which comprises 5,413 hectares of Mineral Tenure. The property is located on the south shore of Whitesail Lake, 29 kilometers south of the Huckleberry Mine, which is 50% owned byImperial Metals (TSX:III) in west central British Columbia. Whitesail Lake, being part of the Nechako Reservoir system, was raised 137 feet in 1952 for the hydro-electric powergenerating station at Kemano. The Nechako Reservoir is approximately 2,793 feet above sea level. Silver Bay's permanent camp, at the Roosevelt target, is accessed by barge and a 3km road from the shore of Whitesail Lake.
Alcan Aluminum built the Kenney Dam on the Nechako River which, in turn, created the Nechako Reservoir - a series of interconnected lakes that runs nearly 125 miles (200 km) east/west in two broad arms that connect near the dam at the easternmost end of the reservoir. The northern arm consists of Ootsa and Whitesail Lakes, while the southern arm, which bisects Tweedsmuir Park, consists of Eutsuk and Tetachuck Lakes.
HISTORY OF MINERAL TENURE ACQUISITION
The Chikamin Mountain area was originally explored for its high grade silver during the late 1800's. Exploration and 'hand-cobbed' production of silver continued intermittently through to the expansion of Tweedmuir area in the early 1970's.
Circumstantial evidence suggests the First Nations, possibly the Wet'suwe'ten, led early prospectors to the area after being shown hand samples of galena. Interestingly, in the old Chinook language, "chikemen" was the word used for "white man's money."
An old mining adage states that "most mines are made and not discovered." All of Jet Gold's claims at the Silver Bay location missed out on the last significant cycle of gold exploration in the early 1980's. It was also passed over by the copper porphyry cycle of the early 1970's. As one exploration cycle feeds information to the next, through government minfile and assessment reporting, most major mining companies have been kept off the "scent of mining" at Silver Bay. Like JetGold, Equity Silver recognized the mining potential of Silver Bay.
Just prior to the stroke of midnight on April 16, 1989, Equity Silver had 30 volunteers ready to compete directly with four members of Guardsmen Resources (Silver Bay's original owners) for both the Silver Bay and Deer Horn prospects, Deer Horn Metals, TSX.V: DHM). Although Guardsmen was originally awarded only a 1/3 interest in the most prospective claim block, covering the Roosevelt prospect, persistence eventuallycpaid off when, in 1994, Placer Dome, the majority shareholder of Equity Silver, decidedcto relinquish its interest. This after Placer closed down the Equity Mine in 1992. For a threecyear period during this time a temporary "No Staking Reserve" was in force and thiscmay have hastened Placer Dome's decision to abandon interest in the area.
After the "No Staking Reserve" was lifted the creation of specific enclaves in the north Tweedsmuir area were allowed for additional claim staking and continued exploration of high-grade potential lands. Specific provisions for access for future development were also included.
HISTORY OF EXPLORATION
The earliest recorded work at Silver Bay was carried out in 1916 on the Mentor, Sunset and Cariboo group of claims along the south shore of Whitesail Lake. The claims were owned and operated by a syndicate that explored underground for a short distance of 15 metres along a shear zone mineralized with galena, sphalerite, pyrite and chalcopyrite. High zinc values likely discouraged miners from further development as there were in those days penalties for "zinc contamination" at most smelters. For this reason, large amounts of accessible, extremely high grade ore were left in place, on surface, virtually untouched throughout the property.
All workings along the original shoreline of Whitesail Lake were flooded in 1952 by the Alcan Kemano project. However, JetGold believes all of the same mineralized structures along the present day shoreline have now been successfully located. In this area, several sulphide rich vents, mineralized with numerous criss-crossing quartz-calcite veins containing pyrite, sphalerite and galena have been observed. Finely disseminated pyrite, sphalerite and chalcopyrite have also been observed within the heavily silicified and brecciated pods.
Minerals present in the vein are pyrite, galena, sphalerite and arsenopyrite. A sample taken across 0.2m by S. Holland (BC Department of Mines) in 1945 assayed 0.29 oz/t gold, 17.9 oz/t silver, 14.3% lead and 15.8% zinc. Similar results over a true width of 6.0 feet were found in 1999. JetGold believes the vein-hosted shear not only demonstrates spectacular ploymetallic grades at mineable widths, but it also appears that an offset splay is responsible for the extraordinary geochemical and geophysical response that remains untested by drilling or trenching.
The region was mapped most recently in 1988 by Diakow and Koyanagi as part of the Whitesail mapping project conducted by the BC Geological Survey Branch. The property area lies within the lntermontaine Belt, represented by a discrete sequence of Middle to Lower Jurassic volcanic and sedimentary rocks that accumulated in depositional basins that evolved in response to regional tectonism. In the property area, this basinal sequence is represented by the Hazelton Group, which is comprised of the Telkwa and Smithers Formations. Overlying this sequence to the west are Lower Cretaceous intermediate to mafic volcanics, augite porphyry, polymictic conglomerates and minor fine-grained sediments.
The rocks referred to as the Hazelton group constitute a very thick series of flows; from rhyolites to basic porphyrites. Massive andesites, sometimes porphyritic, are interbedded with waterlain tuffs, limestones and argilites. Vesicular lavas are present, but are not abundant. The basic varieties are characteristically purple or green, whereas the tuffs and rhyolites (where not stained red) are commonly ash-grey or white, and, in places, even black. The Hazelton group strata of the district are distributed so as to appear to form three lithologically distinct subdivisions, each of which characterizes separate areas. These subdivisions may correspond to three stratigraphical horizons, but this relation has not yet been established.
Subdivision No. 1 consists of lava flows which are associated with minor quantities of tuffs and other fragmental rocks. It includes the porphyrites, rhyolites, andesites, breccias and agglomerates. The porphyrites are, as a rule, much weathered and have a characteristic purple colour. The groundmass is invariably dense and holds abundant phenocrysts of decomposed feldspar. In some cases these lavas are vesicular with the vesicles being filled with calcite. The porphyrites are replaced by dark rhyolitic rocks, breccias, agglomerate and andesites but no definite sequence could be established. The andesites are characteristically green and everywhere porphyritic. In some areas the basalts appear to demonstrate a pillow structure.
Subdivision No. 2 is composed of waterlain tuffs, limestones and argillites, with interbedded bands of volcanic rocks, chiefly andesites. The volcanic rocks are decidedly subordinate to the sediments. The rocks of this subdivision are well exposed on the Chikamin Range and near the Huckleberry Mine on Sweeney Mountain.
On the Chikamin Range, tuffs occur at several different horizons separated from one another by beds of volcanic rocks. The greatest thickness of silicified tuffs occurs near the Nickel Plate prospect with a thickness of 175 feet.
Subdivision No. 3 is developed west of the old trail ascending Chikamin ridge from Whitesail lake and consists of andesites, porphyritic and non-porphyritic, and rhyolites with minor quantities of argillites. The porpheritic rocks, breccias and agglomerates of subdivision No. 1 were not observed among the rocks of this subdivision. The andesites are fresh looking, green and brick-red rocks, and occupy fully 2/3 of this part of the area. The rhyolites are invariably badly weathered and stained a brick-red from the decomposition of pyrite.
Throughout the area these rocks have a general northwest-southeast trend and with few exceptions dip at steep angles.
PROPERTY GEOLOGY
The property is underlain by a generally north-northeasterly trending sediments, volcanoclastic sediments and mafic to intermediate flows, truncated by northerly trending fault contacts. Approximately 2/3 of the eastern portion of the property is underlain by the Hazelton Group Telkwa Formation, while the southwestern part is underlain by the Smithers formation and the northwestern part by Lower Cretaceous flows, intrusives and minor interflow sediments.
Locally, the Hazelton group is represented by a great volume of volcanic rocks with some true sediments. A partial section on Chikamin ridge was estimated to be 13,500 feet thick.
At the Roosevelt prospect, a series of porpheritic andesite plugs intrude a zone of steeply dipping north-south shears at the hinge of a broad anticline formation of the Hazelton volcanics. The porpheritic intrusions, at this location, carry a unique coppernickel signature that show up well in soils as a northeast trend, away from their intersection with the shears. The chances of these favourable host structures contuining to considerable depths are excellent.
SILVER BAY MINERALIZATION
The silver-lead deposits on Chikamin ridge are in beds of altered and sheared waterlain tuffs which outcrop near a number of small intrusive masses. Those of Sweeney mountain, near the Huckleberry Mine, occur both in the sedimentary and volcanic members. Mineralization at the Silver Tip prospect on Chikamin Ridge, within the property, is in sheared waterlain tuffs. The waterlain tuffs appear to have been particularly susceptible to mineralization. The presence of numerous small mineralized quartz veins in the volcanic rocks, on Whitesail Lake's Chikamin ridge suggests that important mineralization may be found in these rocks also.
Along the shore of Whitesail Lake, likely above the area formerly known as the Cariboo mineral claims (now under water) is an area occupied by beds of tuffs, argillites and limestones, with subordinate interbeds of andesitic rocks. In this locality, beds of green tuffs with interbeds of porphyritic andesite occupy the lake shore for 3/4 of a mile. The tuffs appear to be closely folded, have a general trend of 150 degrees, dip steeply, are much weathered, sheared and fractured. The fractures as a rule parallel the strike of the beds; they are seamed with quartz and calcite, which form veinlets a fraction of an inch to 15 inches in width. The veinlets carry zinc blende, galena, pyrite, chalcopyrite and arsenical pyrites, in lenses a few inches to 6 feet in length. Pyrite is sparingly present in both the tuffs and the andesites. A sample of one of the mineralized lenses from this area assayed 1% copper and 7% zinc.
Jack Maclintock, discoverer of the Spence Deposit in Chile (and now leading international exploration for BHP Billiton) had a look at a sample of "near porphyry" mineralization, consisting of a silicious volcanic flow, with "milled" angular clasts; mineralized with fine disseminated pyrite, chalcopyrite and sphalerite (assayed 1% copper, 7% zinc, 1 oz. silver). He said, "No wonder the Equity Silver group had wanted to stake the property."
ROOSEVELT (SILVER TIP, CHIKAMIN ADIT)
The Roosevelt prospect is located in the bed of a small creek on the north slope of Chikamin Mountain. An old adit was apparently driven to the south for 40 feet on the strike of the rocks and a crosscut to the east across the face for 20 feet. Evidence of some surface work was noted in the creek bed north of the showing.
The deposit is in a bed of waterlain tuff, fine-grained to dense, grey to pink, sheared and stained with limonite. At the top the tuff grades into a coarser-grained rock composed of loosely cemented, rounded, and angular pieces of fresh quartz and weathered feldspars. The cementing material is calcite. This particular phase of the rock has a talcy feel and resembles an arkose. An average specimen of the finer variety of tuff is composed of andesitic material, angular pieces of feldspar and minor quantities of quartz in a dense groundmass. Bedding is well preserved, the strata trending 175 degrees magnetic and dipping 55 to 75 degrees southwest.
The tuff is strongly sheared and slickensided surfaces are common. The shear zone, 25 feet in width, can be traced down the creek for about 200 feet. Here the creek angles across the bed, which disappears beneath a heavy soil covering. A second bed of sheared tuffs 10 feet in width and parallel to the first, outcrops about 30 feet west of the adit and is separated from the first-mentioned bed by porphyritic andesite. This showing was more altered, extensively fractured, with sulfide filled fractures from l-10% pyrite and trace to 5% galena.
The mineral body consists of galena, zinc blende, pyrite and a little chalcopyrite in veins of quartz. With the quartz are calcite and a talcy gouge and this latter in many cases forms the only vein filling. The veins vary from minute stringers to 15 inches in width, parallel the trend of the rock and form a zone 7 feet in width. Of this width about 60 per cent is occupied by country rock and 40 per cent by mineralized veins. Several of the veins can be seen to unite to form a single vein 15 inches wide, but which in a few feet again divides into several narrower veins. The proportion of sulphides to gangue in the veins is as a rule high. In the creek bed narrow lenses of sulphides can be observed for 50 feet north of the adit, but beyond that stream wash and soil conceal everything.
Four chip samples returned the following: 174, 175, 302 and 1530 g/tAg, Au ranging from 7.49 to 13.87 ppm with correspondingly high arsenic values, all over 10,000 ppm As. One sample returned 1.25% Cu. Lead values were 2.17%, 2.21%, 3.52% and 20.6%. Zinc values returned from three samples were 6.26%, l0.l% and 13.9%.
About 1/4 mile southeast of the adit and on the creek referred to above, tuffs interbedded with andesitic flows outcrop, but show no shearing effects. They are finegrained to dense, grey and pink and break with a very even fracture. The strike here is east and west and the dip 40 degrees to northeast. It would thus appear that there are several distinct beds of tuffs interbedded with andesite flows. The bed in which the adit has been driven is mineralized with galena, zinc blende, pyrite and a little chalcopyrite. Only the latter two minerals were observed in the other beds.
OTHER MINERAL OCCURRENCES ON CHIKAMIN RIDGE
On the east face of Chikamin ridge, near the head of Chikamin creek, an old open-cut exposed copper and iron sulphides, and south of this location, a deposit of magnetite. The country rock is porphyritic andesite intruded by numerous narrow dykes of porphyritic diorite. The trend of the country rock is uniform 160 degrees - dip 70 degrees to 80 degrees to the southwest. The intrusive bodies are, as a rule, narrow dykes, a few inches to 15 feet in width with east and west trend. Granular chalcopyrite and pyrite occur in quartz-calcite veins up to 6 inches wide in the dykes and in the andesites. "The sulphides are said to assay about $2 of gold a ton," (Ref: 1924 GSC Summary Report; Part A). Of note, $2 of gold per ton in 1924 would equate to approximately 1 ounce per ton today.
South of the open-cut referred to above a dyke of porphyritic diorite 15 feet wide, invades porphyritic andesites. Near the contact of the two bodies is a contact metamorphic zone 20 feet wide consisting of bands of iron ore up to 8 inches in width and bands of andradite up to 3 feet in width. These minerals occupy veins and vugs in the andesites. "Specimens of iron ore consist of a peculiar magnetite having an extraordinary magnetism almost equal to lodestone. This magnetite is admixed with ankerite. A little secondary specular iron is also to be seen. On the south slope of Chikamin range, veins of chalcopyrite are reported, but owing to the presence of snow on the slopes, could not be examined." (Ref: GSC 1924 Summary Report; Part A).
RECENT EXPLORATION
In 1989, Equity Silver Mines carried out a program of silt and rock geochemistry reconnaissance survey with geological mapping on their Midnight property. In the area along "Creek 0," located within the property, all the bulk and silt samples were strongly anomalous in gold and moderately anomalous in silver, arsenic, lead and zinc. Later Geological mapping by discovered a shear system with associated strong quartzsericite alteration crosscutting the creek where rock samples were found to be anomalous in gold, silver, arsenic, antimony, copper and zinc.
Between 1989 and 1991, Equity Silver Mines conducted geological mapping, soil geochemistry, heavy mineral stream sediment sampling (Aziz, 1990) and induced polarization surveys (Walcott, 1991). In 1991 Equity backhoe-trenched arsenic-silver soil anomalies and parts of a large induced polarization chargeability anomaly. Equity followed up with a 12 hole diamond drilling program in September, 1991. The stated purpose of the drilling program was to test for a bulk tonnage potential (Hanson, 1992). Numerous narrow high-grade intersections were encountered. Equity concluded that the target was adequately tested for bulk tonnage potential, but that further testing was needed to assess the high-grade shoots along shears.
In March, 1993, limited scale VLF-EM and magnetometer surveys were conducted. These tested an area defined by mineralized stream sediment and rock samples and bedrock structures. Coincidence was noted between VLF conductors and shearing and faulting containing mineralized rock.
GUARDSMEN'S 1999 WORK PROGRAM
The 1999 work program on the Zincamp Group comprised geological prospecting and mapping, sampling of mineralized showings, VLF-EM and magnetometer surveys as well as geochemical sampling of soils.
Prospecting, mapping and sampling within the property was done on a reconnaissance basis. Detailed rock chip sampling was done across the exposed sulphide zone at the Zincamp Road Anomaly (a possible splay of the Roosevelt). The Caribou and Nickel Plate Showings were located and sampled.
CONCLUSIONS
At this stage, the Zincamp Road anomaly presents an exciting target. Trenching conducted by Equity Silver uncovered mineralized bedrock within this area. However, Equity drilling did not test the zone. Work to-date has attained an extraordinary coincidental VLF-EM, magnetometer, IP, geochemical and gelogical profile. JetGold continues to maintain a fully equipped cabin within a few hundred feet of the best drill targets along the anomalous zone.
Besides being host to potentially economic mesothermal vein systems, the Chikamin Mountain area also shows numerous indications of porphyry copper-molybdenum mineralization. Without a doubt, the property is located well within the central part of a regionally prolific corridor of such porphyry deposits.
RECCOMMENDATIONS
1) The Chikamin Adit-Zincamp Road Anomaly trend should be closely investigated by means of an active EM system, followed by detailed soil geochemistry. This should be followed up by a phase-2 program of drilling.
2) The Eastern Anomaly trend should be followed up in the same manner with a phase-2 program of either trenching or drilling.
3) Detailed mapping of the property focusing on structures controlling mineralization.
4) Extension of geophysical and geochemical surveys to cover the remainder of the property with detailed sampling over known anomalous areas.
5) Acquisition of surrounding claims.
6) Investigate the porphyry copper potential of the property through the establishment of a second base camp on the shore of Whitesail Lake.
References: Geological Survey of Canada, 1924 Summary Report, Part A; Brian Malahoff, (BCDM Assessment Report #22990); John Gravel, (BCDM Assessment Report #26286), Map Place
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2011 First Quarter Report MD&A
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