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Golden Arrow drills 61 m of 3.04 g/t Au on Poncha
2008-03-27 04:32 MT - News Release
Mr. Joseph Grosso reports
GOLDEN ARROW INTERSECTS 61M AT 3.04 G/T GOLD AND 7.16 G/T SILVER ON PONCHA PROJECT, ARGENTINA
Golden Arrow Resources Corp. has released the assay results from the five-hole 1,553-metre reverse-circulation (RC) drill program carried out in November-December, 2007, on the Poncha gold-copper project in San Juan, Argentina. The five holes tested geochemical-geophysical targets within the two-kilometre by two-kilometre South target epithermal precious/base metal zone, completing the phase II drill program started in April-May, 2007.
Hole RCPC13, drilled in the northwest sector of the South target, intersected breccia-stockwork hosted gold-silver-copper-lead-zinc mineralization over a 266-metre interval, between 129 metres and 395 metres depth, that included numerous high-grade gold intercepts and wider mineralized zones, with highlights including:
266 metres at 1.21 grams per tonne gold and 3.30 grams per tonne silver (129 metres to 395 metres) including;
34 metres at 2.19 grams per tonne gold and 4.31 grams per tonne silver (129 metres to 163 metres) including;
nine metres at 4.88 grams per tonne gold and 8.43 grams per tonne silver (142 metres to 151 metres);
61 metres at 3.04 grams per tonne gold and 7.16 grams per tonne silver (270 metres to 331 metres) including;
four metres at 10.84 grams per tonne gold and 7.93 grams per tonne silver (281 metres to 285 metres);
eight metres at 10.91 grams per tonne gold and 24.00 grams per tonne silver (305 metres to 313 metres).
This strong zone of polymetallic mineralization is spatially related to a prominent induced polarization (IP) chargeability anomaly and geologically occurs along a northwest-striking contact between porphyry intrusive rock and volcaniclastic breccias which remains open in all directions.
A summary of highlights from the five holes reported herein are provided in the table attached. Results from the first part of phase II drilling on the South target included six metres grading 7.4 grams per tonne gold from DDHPC9, including one metre grading 35.03 grams per tonne gold (see news issued in Stockwatch dated Sept. 6, 2007).
Golden Arrow is earning up to a 100-per-cent interest in the Poncha project from Teck Cominco Ltd.'s subsidiary, Teck Cominco Argentina Ltd., by fulfilling expenditure and tenure maintenance requirements subject to Teck Cominco's option to re-earn up to a 65-per-cent interest in the Poncha property (see news issued in Stockwatch dated April 10, 2007).
The company is currently planning a drill program to systematically step-out from the RCPC13 discovery hole along the chargeability anomaly/porphyry contact in all directions to delineate the extent and tenor of the mineralized zone. This program will be executed either immediately before or after the Andean winter which usually extends from April to September.
Technical summary
The Poncha project is located in the Cordillera frontal of Argentina, San Juan province. The project hosts two mineralized zones; the copper-gold porphyry Northern target and the structural/breccia-related polymetallic epithermal South target. The two zones are separated by two kilometres of young, postmineral material (see April 10, 2007, news issued in Stockwatch). The geologic/genetic link between these targets has not been established yet.
Exploration in 2007 has been focused on the two-kilometre by two-kilometre South target where a hydrothermal-sulphide vein/breccia complex has been defined. Both carboniferous metasiliclastic sequences and unconformably overlying Tertiary-aged volcanic units show alteration and mineralization assemblages consistent with an intermediate sulphidation model (see Sept. 6, 2007, news issued in Stockwatch).
IP surveying has identified a northwest-southeast-oriented chargeability anomaly that underlies the central part of the South target. The anomaly is interpreted to reflect the concentration of sulphides (pyrite-galena-sphalerite) associated with epithermal mineralization and has been one of the primary targets of the phase II drill program. A total of 12 holes and 3,700.45 metres have been drilled to date on the South target, with collar spacing ranging from 220 metres to 350 metres, in both phases of drilling (2,147.45 metres of diamond core and 1,553 metres of RC).
The November-December, 2007, drill program resulted in the discovery of a new high-grade zone intercepted by PC13. Contiguous gold mineralization cut by PC13 starts at 129 metres below surface and extends for 266 metres to the bottom of the hole at 395 metres depth. Narrower zones of mineralization were intercepted by the other four holes completed in the November-December, 2007, program.
The table below presents highlights of the RC drill results for the South target for holes RCPC10-14.
ANALYTICAL HIGHLIGHTS FOR PONCHA RCPC10-14
Inter- Au Ag
From To val ppm ppm Cu Pb Zn Inter-
Hole (m) (m) (m) (i) (i) ppm ppm ppm cept
PC10 202 205 3 @ 1.46 9.07 60 143 2,027 1
PC10 216 220 4 @ 0.49 10.11 988 339 1,439 2
PC11 37 40 3 @ 0.49 1.98 60 1,532 5,521 3
including 38 39 1 @ 1.30 3.82 119 2,337 greater
than
10,000
PC12 161 164 3 @ 0.56 0.00 23 142 3,885 4
PC12 186 187 1 @ 0.69 3.28 31 695 3,638 5
PC12 229 230 1 @ 2.13 11.02 41 514 391 6
PC13 73 77 4 @ 0.22 4.13 298 900 1,912 7
PC13 129 395 266 @ 1.21 3.30 281 336 1,318 8(ii)
PC13 129 163 34 @ 2.19 4.31 438 304 2,833 9
including 130 140 10 @ 1.69 4.92 520 717 4,125
and 142 151 9 @ 4.88 8.43 649 209 4,459
and 154 158 4 @ 2.02 1.45 234 69 1,228
and 162 163 1 @ 2.71 5.60 617 276 4,722
PC13 174 201 27 @ 0.65 2.40 246 98 1,242 10
including 176 181 5 @ 1.56 6.52 344 163 1,937
and 186 189 3 @ 1.31 1.80 259 94 1,258
and 192 194 2 @ 0.77 1.90 286 106 1,809
and 198 199 1 @ 1.27 4.40 569 201 3,447
PC13 216 220 4 @ 0.57 2.40 352 116 2,195 11
PC13 270 331 61 @ 3.04 7.16 458 700 1,650 12
including 270 271 1 @ 2.77 7.80 1,043 284 6,696
and 275 278 3 @ 3.06 2.87 333 140 2,007
and 281 285 4 @ 10.84 7.93 111 159 1,120
and 288 289 1 @ 4.65 5.10 153 130 1,129
and 291 293 2 @ 3.56 4.35 74 98 793
and 295 296 1 @ 1.82 1.60 98 88 1,167
and 305 313 8 @ 10.91 24.00 1,783 1,810 2,153
and 316 322 6 @ 3.21 20.38 1,079 3,712 5,608
and 330 331 1 @ 2.29 5.40 675 184 4,092
PC13 359 379 20 @ 0.93 5.04 429 1,312 1,542 13
including 360 362 2 @ 4.61 6.65 98 96 552
and 366 370 4 @ 1.53 16.00 1,850 5,623 5,559
and 377 378 1 @ 1.19 4.60 56 216 951
PC14 231 236 5 @ 0.41 0.80 114 77 1,420 14
PC14 290 296 6 @ 0.34 0.18 53 470 1,779 15
PC10 2,446,102 6,692,633 4109 0 -70 269
PC11 2,444,635 6,692,130 4365 0 -60 200
PC12 2,445,801 6,693,040 4148 180 -70 335
PC13 2,445,241 6,693,093 4292 180 -70 395
PC14 2,445,122 6,692,907 4385 0 -80 354
Marifil Cuts More Strong Gold Values Near High Grade Indium Find at San Roque
Drilling Planned on Several Targets
SPOKANE, WASHINGTON--(CCNMatthews - Feb. 20, 2007) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces results from Phase II trench sampling on its wholly-owned San Roque indium & gold-silver project. The northern most trench in Phase II on Target 1(i) cut three parallel zones in silicified breccia, including 6.0 meters (m) grading 3.21 grams per tonne (g/t) gold and 26.8 g/t silver; 3.0 m grading 12.7 g/t gold; 3.0 m grading 12.7 g/t gold and less than 0.5 g/t silver; and 3.0 m grading 3.94 g/t gold and 0.7 g/t silver. This work has extended mineralization in the zone by another 200 m.
Most Phase II gold and silver assays have been received but Indium assays are in progress.
Having completed 52 trenches (1,508.2 m) and collected 765 samples, the Company has identified five important drill targets thus far, including the Del Indio breccia, which contains high grade indium along with gold (see News Release dated Feb 15, 2007). The Company plans to drill these targets as soon as a drill can be obtained.
The San Roque property comprises approximately 12,705 hectares and is located 56 kilometers east of San Antonio Oeste, a port on the Atlantic coast, in Rio Negro Province, Argentina.
(i)Target 1 - The Las Minitas target area contains three sub-parallel, NE-striking gold-bearing structures, the Del Indio vein, the Escondida vein, and the El Relincho vein.
Trenching over the Del Indio vein in a large brecciated area ( greater than 500 m by up to 1.8 m (average 0.8 m)) produced samples including (#6489) with 14,883 g/t of indium ("In") with 2.64 g/t gold over 1.5 meters and (#6483) with 12.37 g/t Au with 289 g/t In over 0.7 meters. The weighted average grade of indium in this structure is 2,017 g/t, which is equivalent to a value of $1,452 per ton. The weighted average gold grade is 2.16 g/t, equivalent to about $45 per ton.
Mineralization cut in these trenches comprises quartz veins and silicified breccias containing occasional specks of visible gold, iron oxides, and copper oxides. The vein appears to be increasing in width and gold content to the north.
The Escondida vein measures 1.5 to 2.0 m wide and 100 m in length. No significant gold values were cut in this vein, although good values were found in float samples.
The El Relincho vein measures 4.0 m wide and 300 m in length. In Phase I, gold values ranged from 0.27 to 2.29 g/t gold. In Phase II Trench 19 cut 2.3 m grading 3.37 g/t gold including 1.2 m at 4.83 g/t gold and Trench 20 cut 1.0 m at 1.68 g/t gold. The vein is cut off by a fault at the southwest end.
Target 2 - The Los Tortugas target area contains three sub parallel, NW-striking gold-bearing structures called the San Roque, San Antonio, and San Juan structures. Each of these structures contain zones of silicified breccias cut by stockwork quartz veinlets stained by iron oxides.
The San Roque structure is a wedge-shaped structure up to 22m thick and 250 m in length. The structure either pinches out or is faulted and offset on its SE end and could be up to 400 m in length. Trench 10 cut a zone 9.0 m wide grading 4.25 g/t gold and 35.8 g/t silver including 1.0 m at 11.04 g/t gold and 56.2 g/t silver in. Trench 11 cut 8.0 m grading 1.57 g/t gold and 5.5 g/t silver. Trench 13 cut 6.0 m grading 1.81 g/t gold and 5.8 g/t silver and, in a parallel zone cut 5 m grading 5.82 g/t gold (high silver assays are pending). Trench 15 cut 4.0 m grading 31.86 g/t gold including 1.7 m. grading 56.8 g/t gold with weak silver values.
The San Antonio structure presents a bulk tonnage target. The structure is 500 m long and 25 m in width. Gold values are generally less than 1.5 g/t, but surface samples here range up to 10.32 g/t gold.
The San Juan structure contains two parallel zones cut in Trenches 4 and 9. The structure is 100 m long and up to 12 m wide. Trench 4 cut 12.0 m grading 4.71 g/t gold including 4.0 m grading 12.3 g/t gold. The San Juan structure may be a fault offset continuation of the San Roque structure.
Target 3 area includes the Trahuil and Sandaje 7 structures. Trench 4 cut 4.9 m grading 2.24 g/t gold plus 1.0 m grading 2.19 g/t gold in the Trahuil structure. This structure is approximately 150 m in length and about 1.0 m wide.
Target 4 (Porphyry Zone) is a N-W striking structure approximately 500 m in length, about 2.5 m in width, and is located along a contact between a fine-grained silicic tuff and a porphyritic rhyolite. Surface samples along the structure returned values of 4.79, 11.61, 5.85, and 2.39 g/t gold respectively but the maximum value in trenches is 3.0 m grading 1.22 g/t gold.
Target 5 - The Morada structure is 500 m long and up to 6 m wide. Notable results include Trench 4 which cut 3.5 m grading 6.88 g/t gold including 1.0 m at 17.8 g/t gold and Trench 5 which cut 3.0 m grading 7.96 g/t gold including 1.0 m at 18 g/t gold.
The oldest rocks on the property are green schist facies metamorphics of Upper Proterozoic age overlain by the Marifil Volcanic Group of Lower to Middle Jurassic age. These rocks include pyroclastics, volcanic breccias, and pyroclastic flows. Mineralization in the San Roque area is influenced by a major NW-SE striking regional fault or shear zone. Higher gold values are associated with sub parallel NW-SE striking quartz veins and silicified breccias although gold plus indium is present in NE-striking structures.
Mr. John Hite, President of Marifil notes, "Above and beyond the highly exciting indium we have found, all of the gold-bearing structures are surrounded by haloes of lower grade gold which suggests that we may have some bulk tonnage targets. This will likely require more extensive sampling for us to satisfactorily estimate of the actual grade."
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. under whose direction the exploration program is being carried out. Mr. Hite is a Qualified Person as defined by National Instrument 43-101.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)
Portal Intersects Wide Zones of Visual Copper Mineralization in Anchoris Drilling
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 22, 2007) - Portal Resources Ltd. (TSX VENTURE:PDO) is pleased to announce visual results from the Phase I reverse circulation drilling at the Anchoris copper-gold porphyry project in Mendoza Province, Argentina announced November 2, 2006. The drill program initially tested three copper-gold porphyry targets La Totora, San Pedro, and La Julia along an eight kilometer strike length.
Long intervals of strongly altered volcanics and intrusive rocks were intersected in the drilling that contained disseminated pyrite and chalcopyrite (copper) sulphide mineralization as well as quartz stockwork with pyrite and chalcopyrite sulphide mineralization over 200-300 meters.
La Totora Zone
Hole AN14 tested the La Totora Zone, a 200-400 meter wide south dipping structurally controlled copper-gold porphyry stockwork zone mapped over a strike length of 2000 meters within an overall pole-dipole induced polarization (IP) geophysical anomaly of 4000 meters. Drilled in the central portion of the La Totora Zone the hole intersected a strongly argillic altered porphyry with disseminated pyrite and chalcopyrite mineralization and quartz veinlets with pyrite and chalcopyrite over 168 meters from 196 to 364 meters and remains open to depth.
San Pedro/La Julia Zone
Drill hole AN10 in the San Pedro Zone intersected silicified, propylitic and argillically altered volcanics with quartz stockwork veinlets containing disseminated pyrite over 227 meters from 28-255 meters. This hole is thought to lie on the northern edge of the mineralized area. Drill hole AN11, 600 meters south of AN10, intersected silicified, propylitic and argillically altered volcanics with disseminated pyrite from 0-95 meters and argillically altered porphyry with disseminated pyrite and chalcopyrite and quartz veinlets with pyrite and chalcopyrite mineralization over 245 meters from 95 to 340 meters, open to depth.
Drill holes AN12 and AN13 tested the La Julia Zone which consists of a broad area of argillic and phyllic altered volcanics and intrusive rock with disseminated and stockwork pyrite and chalcopyrite mineralization over an area measuring 1000 by 2000 meters that is defined primarily by an extensive pole-dipole induced polarization (IP) geophysical anomaly due to alluvial sand and unaltered rock cover. On the southeast portion of the La Julia Zone, drill hole AN12, located 1500 meters west of AN11, intersected a strongly silicified porphyry with disseminated and stockwork pyrite and minor chalcopyrite over 381 meters from surface to a total hole depth of 381 meters. Drill hole AN13 located 600 meters northwest of AN12, intersected argillically altered porphyry with disseminated pyrite and chalcopyrite mineralization and quartz vein stockworks with pyrite and chalcopyrite mineralization over 340 meters from 40-380 meters and also remains open to depth.
Portal Resources is pleased with the visual results of the Phase I drill program. All samples have been submitted for assay and results are expected in the coming weeks. An environmental exploration permit application for an additional 7 holes has been submitted.
Sampling procedure is to prepare and seal two splits from the reverse circulation cuttings at the drill pad. One is stored at the project site in a secure location for reference with the other collected from the site by Alex Stewart Argentina S.A., a subsidiary of the international laboratory Alex Stewart (Assayers) Limited and transported to their laboratory in Mendoza for analysis. Samples are analyzed by fire assay for gold, and multi-element ICP for copper, silver and trace elements. All work on the project is under the direction of senior staff and Mr. Gary Nordin P.Geo. British Columbia, the designated Qualified Person for the Anchoris project in accordance with National Instrument 43-101.
ON BEHALF OF PORTAL RESOURCES LTD.
Bruce Winfield, President & CEO
This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Golden Arrow targets Timon Cruz, collects samples
2006-11-16 15:02 ET - News Release
Mr. Joseph Grosso reports
GOLD ROCK AND SOIL ANOMALIES ON THE TIMON CRUZ GOLD PROPERTY, JUJUY
Golden Arrow Resources Corp. has provided the concession of the 100-per-cent-owned, 2,000-hectare Timon Cruz gold property in Sierra de Rinconada, district of Jujuy province, Argentina, as well as the results from the phase I rock and soil sampling program. Analytical sample results identify multiple gold anomalies associated with quartz-gold vein occurrences. The target on Timon Cruz is a high-grade, quartz-gold vein deposit.
Phase I soil sampling comprised 206 samples collected over a 1,800-metre by 500-metre grid in the central portion of the Timon Cruz property. Rock samples from the same area returned assays ranging from 0.09 part per million to 9.84 parts per million or grams/tonne (g/t) gold. Gold anomalies identified by the soil-sampling program remain open in all directions.
Golden Arrow is currently planning further work on the property which will include extension of the soil grid, composite talus fines and detailed rock sampling, as well as geologic mapping of the main lithologic units to constrain drill targets. The company has recently been carrying out a comprehensive channel sampling program on the San Jose gold project in Jujuy aimed at delineating the extent of mineralized zones reported on in the Aug. 15, 2006, news release in Stockwatch. Results from this work are expected shortly.
Technical summary
Timon Cruz is located in the Sierra de Rinconada in the Argentinian Puna of Jujuy province. Gold mineralization in the district is commonly related to quartz veins hosted in a folded and faulted sequence of Ordovician rocks. Mineralized bodies have diverse geometries relative to folds such as bedding-parallel laminated veins, straight-crosscutting brittle veins, fault-related veins or anticline-hinge "reefs." In general, mineralization extends along the fold trend and seems to be located in first-order anticlines.
To date, exploration work at Timon Cruz has included reconnaissance mapping (aimed at identifying favourable lithologic and structural settings), rock sampling and soil sampling. At Timon Cruz, 10 rock samples from outcrop, old workings and mine dumps were collected. Rock samples were collected over a strike extent of approximately 1,500 m parallel to the axial planes of two anticlines. Results are listed below.
PRELIMINARY ROCK SAMPLE RESULTS FROM TIMON CRUZ PROPERTY, JUJUY
Au
Au (+200) Au (-200) weighted
Length ppm (fine ppm (coarse average
Sample Type (m) Description fraction) fraction) (ppm)
GA 1558 Float Selected quartz
veins in dump of
small open pit 1.24 2.71 1.36
GA 1559 Chip 1.5 Bleached shale
mm scale quartz
veining and
pyrite-arsenopyrite
aggregates up to
six cm across 0.08 0.27 0.09
GA 1560 Float Carbonaceous shale,
quartz veining and
5% sulphides 0.36 0.38 0.36
GA 1561 Chip 0.5 Small open-pit
carbonaceous shale
and large
pyrite-arsenopyrite
cubes 0.19 0.18 0.19
GA 1562 Chip 1.0 Sandstone with 3 to 5%
sulphides and discordant
quartz veins 0.20 0.12 0.19
GA 1563 Float Black shales with 3 to
5% sulphides that form
large totals, BLPV 0.44 0.33 0.44
GA 1564 Float Carbonaceous shale with
up to 7% arsenopyrite
but without quartz
veins 2.37 2.15 2.36
GA 1565 Chip 2.0 Saddle reef in the
southern area, milky
quartz and hematite 0.13 0.04 0.12
GA 1566 Mine dump Small underground old
working, carbonaceous
shale with high sulphide
contents (5%) and quartz
veins 9.35 24.53 9.84
GA 1567 Chip 0.4 BLPV (greater than 40%)
in the steeply dipping
eastern limb 0.11 0.04 0.11
Fronteer buys 17.42% interest in Latin American
2006-11-22 19:34 ET - News Release
See News Release (C-FRG) Fronteer Development Group Inc
Dr. Mark O'Dea of Fronteer reports
FRONTEER DEVELOPMENT GROUP INC. PURCHASES COMMON SHARES AND WARRANTS OF LATIN AMERICAN MINERALS INC.
Fronteer Development Group Inc. has acquired 17.42 per cent of the issued and outstanding common shares of Latin American Minerals Inc.
This strategic investment gives Fronteer immediate exposure to a pipeline of advanced-stage projects in the mining-friendly jurisdiction of Argentina at a relatively low cost of entry.
Pursuant to a private placement which closed on Nov. 20, 2006, Fronteer has purchased 4,932,000 units of securities of Latin American. Each unit was purchased for 25 cents and comprises one common share in the capital of Latin American and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one common share at an exercise price of 35 cents for a period of 12 months from the closing of the private placement.
Argentex signs drill contract to further test high-grade zinc, silver-gold targets at Pinguino, Argentina
2006-11-16 09:00 ET - News Release
TORONTO, Nov. 16 /PRNewswire-FirstCall/ - Argentex Mining Corporation is pleased to announce the signing of a drill contract for further drilling on its Pinguino property in Argentina's Patagonia region. This drill program, which is part of Argentex's ongoing exploration work, is scheduled to include a minimum of 3,000 meters (9,842 feet) of HQ diamond core drilling. Testing will focus on high-priority target areas within massive sulphides and precious metal epithermal veins.
"In light of recent increases in the price of zinc, we hope to aggressively advance the zinc-rich discovery made at Pinguino earlier this year," said Ken Hicks, President of Argentex. "Together with the high-grade silver and gold results from drilling in 2005, we have the unique opportunity to simultaneously pursue both precious and base metals discoveries within a single property in Argentina's most mining-friendly province."
The initial focus of drilling will be the adjoining, sulphide-rich Marta Centro and Yvonne vein systems, which have a combined strike length of more than 1,700 meters (5,577 feet). Previous drilling has demonstrated a consistent mineralized sulphide zone between these areas. In addition, we propose to test additional geophysical targets in other significant vein systems at Pinguino, such as Tranquilo and Marta Norte. Surface sampling on the Tranquilo fault vein returned anomalous copper values in surface outcrops coated with oxidized copper stain. Highlights of drilling conducted at Marta Norte in 2005 returned results including 8.8 meters of 1,095 grams per tonne (g/t) silver in the same area of an anomalous trench that returned 9.0 meters of 1,690 g/t silver on surface, as reported in press releases dated September 6, 2005 and January 6, 2006 respectively. More than 36.4 miles (58.7 kilometers) of epithermal veins have been documented to date at Pinguino.
World Zinc Industry
Zinc, which is primarily used to galvanize steel, reached a record high on November 8, 2006 after inventories tracked by the London Metal Exchange (LME) fell to a 15-year low. According to the LME's November 8th daily report, prices increased to US$2.06 per pound, representing an increase of over 180 percent in the past 12 months. Analysts, including Macquarie Bank Ltd.'s Adam Rowley, expect prices to continue rising because of surging Chinese demand and supply constraints. Stockpiles of zinc have decreased by 79 percent over the past year and are sitting at their lowest levels since April 1991.
In a 25-hole drill program earlier this year, Argentex drill tested selected areas along a 3.7+ mile (6.0+ kilometer) strike length of the Marta vein system at Pinguino. Spaced 110 meters (360 feet) apart, the two holes that targeted the Marta Centro zone both revealed significant intervals of high-grade zinc, lead and copper mineralization. Argentex is working to advance these discoveries to determine if there are commercially exploitable quantities of mineralization at Pinguino.
Drilling at Pinguino is expected to commence after the completion of geophysics currently underway. To date, 1,876.5 meters (6,156.5 feet) of successful Phase Two drilling has been completed.
Quality Assurance
Drilling will be conducted by Connors Drilling, a respected Canadian company with an office in Mendoza, Argentina, and is expected to be completed by the end of March 2007. At least 20 holes are planned to test areas with potential mineralization at shallow depths.
Samples selected for analysis will be sent to ALS Labs Chemex in Argentina. The quality system at ALS Labs complies with the requirements of the international standards ISO 9001:2000 and ISO 17025:2005. Referee analyses will be carried out by Alex Stewart (assayers) Argentina S.A. in Mendoza, Argentina. Argentex, ALS Labs and Alex Stewart Labs maintain comprehensive and independent Quality Control/Quality Assurance programs.
ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. It currently holds an option to acquire 100% mineral rights to more than 30 properties with over 377,490 acres (152,766 hectares) of prospective land, located in the Santa Cruz and Rio Negro provinces of Argentina. The company trades under the symbol AGXM on the OTCBB.
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include statements about the Company's belief that its drill program will include a minimum of 3,000 meters of HQ diamond core drilling with a focus on high-priority target areas; the initial focus of drilling will be the adjoining, sulphide-rich Marta Centro and Yvonne vein systems; the company proposes to test additional geophysical targets in other significant vein systems at Pinguino; Argentex is working to advance its discoveries to determine if there are commercially exploitable quantities of mineralization at Pinguino; drilling at Pinguino is expected to commence after the completion of geophysics currently underway; and, drilling is expected to be completed by the end of March 2007. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, competition for qualified personnel and risks that are inherent in Argentex's operations. These and other risks are described in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Argentex Mining Corporation
CONTACT: Argentex Mining Corporation, Investor Relations, 1-866-594-7687,
info@argentexmining.com
Yamana Acquires 90.6% of Viceroy Shares
15:12 EDT Saturday, October 14, 2006
http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGe...
TORONTO, ONTARIO--(CCNMatthews - Oct. 14, 2006) - Yamana Gold Inc. (Yamana) (TSX:YRI)(AMEX:AUY)(AIM:YAU) is pleased to announce that 49,035,591 common shares of Viceroy Exploration Ltd. (TSX:VYE)(AMEX:XVE), representing 90.6% of the outstanding common shares, were tendered under Yamana's Offer to acquire all of the Viceroy common shares. This result represents overwhelming support for the Offer. Yamana has determined that all of the conditions have been satisfied and has taken up and accepted for payment all of such shares. Yamana intends to issue Yamana common shares in payment for the tendered Viceroy common shares on October 18, 2006.
In order to allow for the remaining Viceroy common shares to be tendered to the Offer and facilitate the issue of Yamana common shares to the remaining Viceroy shareholders who have not tendered to date, Yamana has extended its Offer to purchase the balance of the Viceroy common shares to 5:00 p.m. (Toronto time) on October 27, 2006. This extension will also permit holders of certain warrants and other similar securities of Viceroy to exercise their warrants and similar securities and tender their Viceroy common shares to the Offer, thereby facilitating the ability of those holders to receive Yamana common shares. A notice of extension with respect to the Offer will be mailed on October 16, 2006.
Yamana has now achieved its target acquisition threshold and has initiated the required actions that will result in Yamana owning 100% of the Viceroy common shares.
About the Offer
On September 6, 2006, Yamana offered to acquire all of the outstanding Viceroy Shares including any Viceroy Shares that may become issued and outstanding during the period of the Offer upon the conversion, exchange or exercise of any securities of Viceroy that are convertible into or exchangeable or exercisable for Viceroy Shares. Under the terms of the Offer, Viceroy shareholders are offered 0.97 of a Yamana common share per Viceroy common share held. The terms and conditions of the Offer were complied with or waived prior to Yamana taking up Viceroy Shares under the Offer.
Yamana's take-over bid circular and related documents in respect of the Offer were filed with the securities regulatory authorities in Canada and the United States on September 6, 2006 and a notice of extension of the Offer will be filed with these same regulatory authorities. Viceroy shareholders are advised to read these documents as they contain important information including the terms and conditions of the Offer and the procedures for depositing shares. Additional information about the Offer or copies of these documents may be obtained from Kingsdale Shareholder Services Inc. (Toll Free in North America 1-866-301-3460).
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper gold development stage properties, exploration properties, and land positions in Brazil, Argentina and Central America. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Company management plans to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil, Argentina and elsewhere in Latin America.
Forward Looking Statements
This news release contains "forward-looking statements", within the meaning of Canadian securities legislation, concerning the business, operations and financial performance and condition of each of Yamana and Viceroy. Forward-looking statements include, but are not limited to, statements with respect to estimated production, synergies and financial impact of the Offer; the completion of the Offer, the benefits of the Offer and the development potential of Yamana's properties (including Gualcamayo); the future price of gold and copper; the estimation of mineral reserves and resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; capital expenditures; success of exploration activities; permitting time lines and permitting, mining or processing issues; currency exchange rate fluctuations; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; title disputes or claims; and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Yamana and Viceroy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events during construction, expansion and start-up; variations in ore grade, tonnes mined, crushed or milled; variations in relative amounts of refractory, non-refractory and transition ores; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; the businesses of Yamana and Viceroy not being integrated successfully or such integration proving more difficult, time consuming or costly than expected; not realizing on the anticipated benefits from the Yamana/Viceroy transaction or not realizing on such anticipated benefits within the expected time frame; risks related to international operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and copper; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in the completion of development or construction activities, as well as those factors discussed in or referred to in the current annual Management's Discussion and Analysis and current Annual Information Form of each of Yamana and Viceroy filed with the securities regulatory authorities in Canada and available at www.sedar.com, and Yamana's and Viceroy's Annual Reports or Form 40-F filed with the United States Securities and Exchange Commission. Although management of each of Yamana and Viceroy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Neither Yamana nor Viceroy undertakes to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
This news release does not constitute an offer to buy or an invitation to sell, or the solicitation of an offer to buy or invitation to sell, any of the securities of Yamana or Viceroy. Such an offer may only be made pursuant to an offer and take-over bid circular filed with the securities regulatory authorities in Canada. On September 8, 2006, Yamana filed an offer and take-over bid circular with Canadian provincial securities regulators. Yamana also filed with the U.S. Securities and Exchange Commission a Registration Statement on Form F-8 as well as a Schedule 14D-1F tender offer statement, both of which include the offer and take-over bid circular. Investors and security holders are urged to read the offer and take-over bid circular regarding the proposed business combination transaction because they contain important information. Investors may obtain a free copy of the offer and take-over bid circular and other documents filed by Yamana with the Canadian provincial securities regulators on SEDAR at www.sedar.com, and with the SEC at the SEC's website at www.sec.gov. The offer and take-over bid circular and these other documents may also be obtained for free on Yamana's website or by directing a request to Yamana.
FOR FURTHER INFORMATION PLEASE CONTACT:
Yamana Gold Inc.
Peter Marrone
President and Chief Executive Officer
(416) 815-0220
or
Yamana Gold Inc.
Leslie Powers
Director Investor & Public Relations
(416) 815-0220
or
Viceroy Exploration Ltd
Patrick Downey
President and Chief Executive Officer
(604) 669-4777
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Committee Bay finds gold in stream at Cordon El Penon
2006-09-28 09:29 ET - News Release
Mr. John Williamson reports
COMMITTEE BAY IDENTIFIES NEW GOLD ZONE AT CORDON EL PENON PROJECT AND INCREASES LAND HOLDINGS IN SAN JUAN PROVINCE, ARGENTINA
Reconnaissance mapping and stream sediment sampling conducted by Committee Bay Resources Ltd. on the Cordon El Penon project has identified anomalous gold in stream silt samples in drainages over a 10-kilometre length off the leading edge of the Caracol Thrust fault, located within the southern half of the project area. A single drainage system in the El Penon area returned six highly anomalous non-concentrated stream silt values ranging from 76 to 2,500 parts per billion gold (Au), coincident with anomalous silver (Ag), arsenic (As), antimony (Sb), thallium (Tl), mercury (Hg), tellurium (Te), tungsten (W), lead (Pb) and zinc (Zn).
Based on these results the company has increased its landholdings on its 100-per-cent-owned Cordon El Penon project to 9,895 hectares (ha). Committee Bay Resources Ltd., through its wholly owned subsidiary Minera La Huella S.A., now holds over 85,000 hectares of prospective ground in three areas within San Juan and La Rioja provinces, which consist of the Cordon El Penon (9,895 hectares) and Canon Oculto (14,887 hectares) projects in the PreCordillera of San Juan province, and the Rio Bonete (61,000 ha) project within the Famatina Magmatic Arc Terrane in La Rioja province.
The Cordon El Penon project is located in the PreCordillera region of Argentina, and encompasses a sequence of thrust-faulted Ordovician-aged platformal carbonate rocks which have been intruded by Tertiary porphyritic quartz diorites. This geologic environment contains the majority of gold deposits identified in the PreCordillera of Argentina including Gualcamayo, Virgen de Lourdes, Salamanca and Gualilan. These deposits are characterized by mantos, skarns and breccia zones hosted within carbonate rocks proximal to quartz diorite intrusions. Committee Bay also believes these rocks have the potential to host more distal, disseminated-type gold mineralization analogous to deposits of the Carlin and Battle Mountain trends in Nevada.
The company is planning a follow-up sampling and geological mapping program at the Cordon El Penon property scheduled to commence in mid-November, and will also be investigating opportunities to increase its landholdings over areas prospective for bulk tonnage, open pittable gold resources in Argentina, focused primarily within San Juan province.
Committee Bay Resources maintains an extensive quality control program in the preparation, shipping and checking of all samples from the project, and the programs are supervised by Peter Kleespies, MSc, PGeol, vice-president of exploration (Australia), who is the qualified person as defined by National Instrument 43-101. All rock and stream sediment samples were delivered in sealed bags to the ALS-Chemex Labs facility in Mendoza, Argentina, for sample preparation and were then sent to the La Serena, Chile, lab for gold analysis (50-gram-per-tonne gold fire assay with atomic absorption finish) and the Vancouver, B.C., lab for four-acid multielement ICP-MS analysis.
Committee Bay also announced today that Dean McDonald, PGeo, PhD, vice-president of exploration, has resigned from the company. Dr. McDonald will continue on with the company in a technical advisory role. The directors, management and staff of Committee Bay wish to thank Mr. McDonald for his years of service and wish him the best in his new endeavours. Management of exploration activities and programs in Australia, Canada and Argentina, as well as all quality assurance/quality control procedures will now be conducted under the guidance of Peter Kleespies, MSc, PGeol, currently the company's vice-president of exploration, (Australia), and a qualified person under National Instrument 43-101 guidelines.
Committee Bay also controls major greenstone belts in Nunavut and Western Australia and has the opportunity to conduct year-round exploration on three continents in order to build on its existing gold resources.
Exeter Resource Corporation: Ojo Zone Drilling Extends Gold Mineralization at La Cabeza
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 5, 2006) - Exeter Resource Corporation (TSX VENTURE:XRC)(PINK SHEETS:EXRCF)(FWB:EXB) reports that resource expansion drilling on the Ojo Zone of its La Cabeza project has intersected significant gold mineralization.
The Ojo Zone is one of the four principal zones of mineralization on the project. Significant diamond drill results, tabulated below, include intercepts of:
- 12.7 metres at a grade of 3.1 grams per tonne ("g/t") gold including 2 metres at a grade of 11.9 g/t gold in hole LCD-105;
- 46 metres at a grade of 1.6 g/t gold including 11 metres at a grade of 3.1 g/t gold in LCD-124,
- 8.2 metres at a grade of 2.3 g/t gold in LCD-125, and
- 27 metres at a grade of 1.8 g/t gold including 6 metres at a grade of 3.1 g/t gold in LCP-215.
New Targets
Separately, Exeter reports that two new target areas have been delineated near Ojo, beneath 3 to 12 metres of sand cover. Bedrock drilling located immediately west northwest of Ojo returned anomalous gold values of 0.6 g/t, 0.5 g/t and four separate values of 0.4 g/t, all in samples taken from the top three metres of bedrock.
The second new target is located mid-way between the Central Vein Zone and the Luna Zone. One bedrock drill hole assayed 0.5 g/t gold over three metres. These targets will now be defined by conventional reverse circulation ("RC") drilling.
Company Comment
Exeter's Chairman, Yale Simpson, commented: "The results from drill holes, LCD-124, LCD-125, LCP-214 and LCP-215 confirm the grade and distribution of mineralization in the Ojo Zone, both in sedimentary and volcanic rocks. However, the mineralization intersected by LCD-105 represents an extension of the high grade hydrothermal breccias tested in 2005. Additional drilling will test the breccia zone at depth, where it remains open for further extension."
Detailed Drilling Results
Significant assay results from five additional drill holes testing the Ojo prospect are as follows:
--------------------------------------------------Hole From (m) To (m) Width (m) Au grade (g/t)--------------------------------------------------LCD-105 10 22.7 12.7 3.1-------------------------------------------------- including 13 15 2 11.9--------------------------------------------------LCD-124 4 50 46 1.6 (i)-------------------------------------------------- including 16 17 1 6.2-------------------------------------------------- and 21 32 11 3.1--------------------------------------------------LCD-125 4 12.2 8.2 2.3 (ii)-------------------------------------------------- including 9.6 10.2 0.6 10.3--------------------------------------------------LCP-214 5 26 21 0.6-------------------------------------------------- including 17 20 3 1.1-------------------------------------------------- 53 59 6 1.4-------------------------------------------------- 68 71 3 0.7 (iii)--------------------------------------------------LCP-215 9 36 27 1.8-------------------------------------------------- including 18 24 6 3.1-------------------------------------------------- 78 81 3 0.9--------------------------------------------------
(i) Regular whole rock core samples of HQ-size diamond drill core,in representative rock types (in both mineralized and un-mineralizedrocks) have been collected for simple compression tests. The intervals 8.0 - 9.0 metres and 32 - 33 metres, within this 46 metreintersection, represent such samples and for reporting purposes hereboth have been assumed to have a gold value of zero.
(ii) Diamond drill hole LCD-125 actually intersected mineralizationgreater than 1.0 g/t gold (and up to 7.2 g/t gold) from surface downto the first assay reported at 4 metres. Given that the rock drilledwas weathered and broken, the core recoveries in this interval wassignificantly less than the 85 percent required for reporting purposes. Fortunately, in this case, sample data from nearby channel sampling can be used in the next resource estimation.
(iii) RC drill hole LCP-214 terminated in mineralization with thelast three metres assaying 0.7 g/t gold. This drill hole will be extended.
Diamond core hole LCD-105 was located 25 metres northwest of LCP-139 (which intersected 9 metres at a grade of 4.3 g/t gold) and confirmed the continuation of hydrothermal breccia mineralization at depth. Approximately 75 metres northwest of this hole, fourteen rotary air blast ("RAB") holes returned anomalous gold values of between 0.15 g/t and 0.57 g/t, associated with brecciated felsic porphyry. RC drilling will test this target area.
Diamond core holes LCD-124 and LCD-125 were drilled 50 metres apart, on the same section, to test the vertical and lateral extent of mineralization indicated by surface channel sampling. Most of the gold mineralization intersected in the two holes is related to fractured and brecciated felsic porphyry, with dark grey chalcedonic silica in the breccia matrix.
RC drill holes LCP-214 and 215 were in-fill holes on the same section line, between two previous sections that were spaced 50 metres apart. Gold mineralization within LCP-214 is within quartz sandstone from a depth of 5 metres. Gold mineralization in LCP-215, located approximately 40 metres northwest of LCP-214, is hosted within felsic volcanics and sedimentary rocks.
2006 Drilling Progress
Two multi-purpose reverse circulation-diamond drills and two conventional diamond drills are currently operating at La Cabeza. At the end of June, the drilling program that was commenced in January was 45 percent complete, with 6500 metres remaining. The program for the remainder of 2006 was increased to extend and add definition to new mineralization identified in the 2006 program.
The drilling program now includes "fences" of RC drill holes in areas of sand cover to test prospective structural corridors. The revised drilling program including the "fence" drilling will total 12,000 metres. This expanded program is expected to be completed by year end and will be followed, as quickly as possible thereafter by a new, independent resource estimation.
Vein and drill hole locations can be viewed on the Exeter website at www.exeterresource.com or by clicking on these hyperlinks:
http://www.exeterresource.com/images/gallery/plans/plans17.pdf and http://www.exeterresource.com/images/gallery/plans/plans18.pdf
Quality Control and Assurance
The gold assay results presented above are preliminary and have been calculated using a 0.5 g/t gold cut-off grade, with no cutting of high grades. All reverse circulation drill samples are collected using a cyclone in one metre intervals; the majority are then composited into three metre samples. The HQ diamond drill core samples are split at one metre intervals or on geological contacts. Samples were collected in accordance with industry standards. Samples were prepared at the ALS Chemex preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the ALS Chemex laboratory facility in La Serena, Chile, both ISO-9001:200 certified laboratories.
Check assaying of all samples assaying greater than 1.0 g/t gold will be completed by ALS Chemex in Chile. The Company applies industry standard techniques for systematic inclusions of standard, blank and duplicate samples throughout the sample sequence as checks. Note that the drill widths presented above are drill intersection widths and may not represent true widths.
Matthew Williams, Exeter's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.
About Exeter
Exeter is a technically-advanced, Canadian gold exploration company, focused on the discovery and development of epithermal gold-silver properties in Argentina and Chile.
Currently, four drills are operating at its advanced La Cabeza gold project, as a key component of project development activities that include engineering, metallurgical, hydrological, and environmental studies.
In the prospective, Patagonia region of Argentina, Exeter has a strategic agreement with Cerro Vanguardia S.A., AngloGold Ashanti subsidiary over 12 epithermal gold and silver properties in Santa Cruz, Rio Negro and Chubut provinces. Drilling by Exeter at the Cerro Moro, Cerro Puntudo and Verde Silver projects was recently announced to have intersected significant gold and silver mineralization. Follow up exploration has commenced to target further drilling final quarter this year.
In Chile, Exeter is prospecting some 48 gold-silver and copper targets under a strategic agreement with Rio Tinto Mining and Exploration Limited.
In the Maricunga district of Chile, Exeter has a strategic agreement with Minera Anglo American Chile Limitada and Empresa Minera Mantos Blancos S.A. on the Caspiche epithermal gold property.
You are invited to visit the Exeter web site at www.exeterresource.com.
EXETER RESOURCE CORPORATION
Bryce Roxburgh, President and CEO
Safe Harbour Statement - This news release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 referring to Exeter's exploration plans and expectations for advancing its exploration properties. These statements reflect our current belief and are based upon currently available information. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside of the control of Exeter.
To view the attached maps, please click on the following link: http://www.ccnmatthews.com/docs/exeter905.pdf.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Mansfield Minerals halted at 9:26 a.m. PT
2006-08-31 12:28 ET - Halt Trading
Andina Signs Letter Of Intent To Option Pampa Buenos Aires Project to Mena Resources
TORONTO, ONTARIO--(CCNMatthews - Aug. 28, 2006) - ANDINA Minerals Inc. (TSX VENTURE:ADM) ("Andina" or "the Company") is pleased to report that it has signed a Letter of Intent to enter into an option agreement with the Chilean subsidiary of Mena Resources Inc. ("Mena") whereby Mena may acquire a 50% interest in Andina's Pampa Buenos Aires Project. The Pampa Buenos Aires Project encompasses 27,000 hectares of highly prospective ground located approximately 15 kilometres southwest of Meridian Gold Inc.'s ("Meridian") El Penon silver gold mine. Andina and Mena will prepare a Definitive Agreement formalizing the terms of the Letter of Intent within the next 30 days. The Definitive Agreement is subject to approval by the Board of Directors of both companies and the approval of the TSX Venture Exchange.
"We are very pleased to have Mena involved in the Pampa Buenos Aires Project", stated Carl B. Hansen, President and CEO of Andina. "John Davidson, PhD, Mena's Exploration Manager South America, brings valuable knowledge and experience to exploration in this region having played a critical role in the discovery of Meridan's nearby El Penon mine. By allowing Mena to earn an interest in the Pampa Buenos Aries Project, we can expedite exploration on the Project while we focus our resources on our flagship Volcan Gold Project, located in Chile's Maricunga Gold Belt."
Upon signing the Definitive Agreement, Mena is required to make 2006 land payments, up to US$45,000. After incurring exploration expenditures of US$250,000, within one year of signing the Definitive Agreement, Mena may earn a 50% interest in the Pampa Buenos Aires Project by paying Andina 300,000 common shares of Mena. At this time, Andina and Mena will form a joint venture, in the form of a Chilean contractual mining company, to continue exploration activities on the property.
About Andina Minerals Inc.
Andina is an Americas focused exploration company, with a portfolio of precious metals exploration projects in Chile, which is dedicated to maximizing the value of its exploration assets through a disciplined and fiscally responsible approach exploration. The Company maintains a portfolio of exploration properties in Chile including its flagship property, the Volcan Gold Project located in Chile's Maricunga Gold Belt.
A summary of the Pampa Buenos Aires property is reported within the Company's Technical Report titled "Review of Gold and Copper Exploration Potential of Mineral Properties in Chile" dated November 12, 2004 which was filed at www.sedar.com on November 24, 2004.
Certain statements herein that are not historical facts are forward-looking statements, including statements as to timing and extent of future exploration programs, and the timing of the signing of definitive agreements. As such, these statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's recent Management Discussion and Analysis filed with Canadian securities regulators. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits accidents and delays in completing exploration activities, not all of which are in the control of the company. The forward-looking information contained herein is the company's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Yamana proposes Viceroy takeover
2006-08-17 05:55 ET - News Release
See News Release (C-YRI) Yamana Gold Inc
Mr. Peter Marrone of Yamana Gold reports
YAMANA TO ACQUIRE VICEROY SOLIDIFYING ITS POSITION AS LEADING INTERMEDIATE GOLD PRODUCER
Yamana Gold Inc. has agreed to make a takeover bid to acquire all of the outstanding common shares of Viceroy Exploration Ltd. in exchange for Yamana common shares. Yamana has agreed to offer Viceroy shareholders 0.97 of a Yamana common share for each Viceroy common share held. Based on today's respective Toronto Stock Exchange closing prices of $11.20 for Yamana and $8.65 for Viceroy, the transaction value is $10.86 per Viceroy common share, representing a premium of 25.5 per cent. Based on the 20-day volume-weighted average of Yamana's share price, the transaction value is $11.19 per Viceroy common share, representing a premium of 27.0 per cent over the 20-day volume-weighted average price of Viceroy's common shares. Yamana and Viceroy have entered into a support agreement pursuant to which the board of directors of Viceroy has unanimously supported the transaction and recommend that shareholders tender their shares to the bid.
The successful completion of the transaction results in Yamana adding a new advanced stage project in a highly prospective exploration district, further solidifying Yamana's position as a leading intermediate gold producer. Viceroy's principal asset is the advanced exploration-stage Gualcamayo gold project in San Juan province, Argentina. Yamana, following this transaction, will have the following profile:
projected annualized production of one million ounces by 2008 up from estimated gold production of approximately 600,000 ounces in 2007 (not including Yamana's other development stage projects);
total measured and indicated resources of approximately 11.8 million ounces of gold plus inferred resources of approximately 6.9 million ounces before accounting for the Gualcamayo resource update expected to be completed by the end of August;
proven and probable gold reserves of approximately 7.2 million ounces (included in above measured and indicated resource). This does not include potential mineral reserves at Gualcamayo which are still subject to a planned feasibility study;
proven and probable copper reserves of approximately 2.3 billion pounds;
one of the largest Brazilian exploration landholdings with a significant presence in three major gold belts; and
addition of the Gualcamayo exploration district in Argentina along with other assets held by Viceroy.
Viceroy is also pleased to announce the assay results from hole No. QD-321, which is stepped out over 50 metres to the northwest of hole number QD-309. It returned 118 metres at a weighted average grade of 2.4 grams per tonne, including 92 metres at 2.6 grams per tonne. Hole No. QD-309 had previously returned 129.7 metres of a grade of 2.62 grams per tonne, including 100 metres of 3.23 grams per tonne (see Viceroy news issued in Stockwatch on July 11, 2006). Hole No. QD-322 which is stepped out over 50 metres to the southeast of QD-309 is currently in progress. The results from QD-321 corroborate the view that there could be a significant down-dip extension of the QDD structure, which is still open along strike.
The transaction provides the following anticipated benefits to Yamana and Viceroy shareholders:
adds an advanced stage project with a growing resource base;
adds long-term gold production and potential from Gualcamayo which is expected to contribute to Yamana's production goal of one million ounces by 2008;
increases operational strength and management depth through the addition of Viceroy's team;
leverages Yamana's mine building expertise derived from constructing the Sao Francisco and Chapada mines;
uses Yamana's available cash and significant cash flow and lower-cost Brazilian capital cost structure to develop Gualcamayo;
further enhances both companies' long-term exploration potential;
solidifies Yamana's positioning among the top intermediate global gold producers;
broadens shareholder base and increases share-trading liquidity; and
adds projects, currency and country diversification.
Yamana believes that a positive feasibility study at Gualcamayo could result in the definition of mineral reserves in the range of two million ounces based on its assessment of the mineral resources and that Gualcamayo could produce 160,000 ounces annually.
This transaction allows Viceroy shareholders to continue to participate in the development of Gualcamayo without facing the risks normally associated with a single-project company. Furthermore, Viceroy shareholders benefit from the exploration and development upside of Yamana's properties in three major Brazilian gold belts and significant cash flow from its operations.
Delivered on promises -- extending the vision
Peter Marrone, president and chief executive officer of Yamana, said: "In our strategic vision which we developed in late 2005, the goal was to produce one million ounces of gold by 2008. With this acquisition, we will have the assets in place to allow us to meet that goal. The purchase of Viceroy adds another large-scale, long-life project to Yamana's existing assets. We expect the planned feasibility study to confirm our expectation of mineral reserves and production levels at Gualcamayo. Yamana's mine building team is near completion of the Chapada mine and has already successfully commissioned the Sao Francisco mine. The resulting in-house expertise and lower-cost structure in Brazil will add significant value to the Gualcamayo project. Further, the similarities in proposed mining methods at Gualcamayo and those employed by Yamana should allow for a smooth start-up and operation following completion of a feasibility study and development of Gualcamayo. The addition of Viceroy's operating management to Yamana will enhance the depth of Yamana's team and help facilitate the successful development of Yamana's future projects such as C1 Santa Luz, Sao Vicente and Ernesto. This transaction solidifies Yamana's standing among the top tier of intermediate-size global gold producers."
Patrick Downey, president and chief executive officer of Viceroy, said: "This transaction helps Viceroy achieve its corporate objectives of building Gualcamayo while maintaining significant leverage to the project's future and other prospective exploration projects, and at the same time achieving an immediate premium along with further valuation upside in Yamana's shares. Yamana's team has demonstrated success in integrating management teams and providing significant value appreciation from its previous acquisitions. Viceroy shareholders will continue to have significant upside from Gualcamayo, while participating in the operational and exploration valuation upside from Yamana with reduced risk from the diversification of assets. We are confident that we will continue to benefit from Yamana's shares as they are one of the most attractively valued global intermediate gold producers."
Summary of the transaction
The acquisition of Viceroy will be completed by way of a takeover bid whereby Yamana will offer to acquire each outstanding Viceroy common share in exchange for 0.97 of a Yamana common share. In the event that Yamana acquires 100 per cent of the outstanding shares of Viceroy, the combined company will be held approximately 85 per cent by existing Yamana shareholders and 15 per cent by existing Viceroy shareholders. The total number of Yamana common shares outstanding will be approximately 344.4 million, on a pro forma basis. The transaction values Viceroy at approximately $515-million (U.S.) on a non-diluted basis.
The acquisition has the unanimous approval of the boards of directors of Yamana and Viceroy. The board of directors of Viceroy, having received the unanimous recommendation of a special committee of directors, is recommending that holders of Viceroy common shares tender their shares to the Yamana offer. Each of Canaccord Adams and Genuity Capital Markets have provided an opinion to the special committee of the board of directors of Viceroy that the consideration to be offered to Viceroy shareholders pursuant to the offer is fair, from a financial point of view, to the holders of common shares of Viceroy other than Yamana.
Management and directors of Viceroy have entered into lock-up agreements with Yamana under which they have agreed to tender 3.2 million voting shares, representing a 6-per-cent interest in Viceroy.
Me. Downey will join the management of the combined company in the role of executive vice-president, operations, with the primary responsibility of developing Gualcamayo. Viceroy's team in Argentina will be joining Yamana.
Commenting on management, Peter Marrone said, "Yamana and Viceroy have been involved in strategic discussions for some time and in that time, it has become very apparent that not only do Viceroy and Yamana share a common strategic outlook, but we espouse a common vision for our shareholders."
Full details of the offer will be included in the formal offer and takeover circular to be filed with the regulatory authorities and mailed to Viceroy shareholders in accordance with applicable securities laws. The offer will remain open for 35 days following the mailing date and will be subject to certain conditions relating to receipt of requisite regulatory approvals, the absence of any material changes and acceptance of the offer by Viceroy shareholders owning not less than two-thirds of the Viceroy common shares on a fully diluted basis. A resource estimate will be made available around the time of mailing of the circular.
If the support agreement is terminated in certain circumstances, Viceroy has agreed to pay Yamana a termination fee of 3.25 per cent of Viceroy's market capitalization on a fully diluted basis.
Yamana's financial adviser is National Bank Financial Inc. and its legal advisers are Cassels Brock & Blackwell LLP and Dorsey & Whitney LLP. Canaccord Adams and Genuity Capital Markets acted as financial advisers to the special committee of the board of directors of Viceroy. Viceroy's legal advisers are DuMoulin Black LLP and Blake, Cassels, & Graydon LLP.
Quality control
Exploration on the Gualcamayo project is being conducted under the supervision of Rick Diment, PGeo, the company's qualified person as defined under National Instrument 43-101. All samples were collected in accordance with industry standards. Samples were submitted to Alex Stuart Assayers, Argentina, S.A., in Mendoza, Argentina, for fire assay and ICP analysis. Check assays were submitted to ALS Chemex, an ISO-9001: 2000 certified lab, in the Santiago, Chile, facility. Accuracy of results is tested through the systemic inclusion of standards, blanks and checks assays.
Conference call
A conference call is scheduled for Thursday, Aug. 17, 2006, at 10 a.m. Eastern Time.
Call-in numbers:
Local and international: 416-644-3425
North American toll-free: 866-250-4877
A replay of this conference call will be available from Thursday, Aug. 17, 2006, 12 p.m. ET, until Thursday, Sept. 24, 2006, 11:59 p.m. ET.
Replay numbers:
Local and international: 416-640-1917
Pass code: 21200311 (pound sign)
North American toll-free: 877-289-8525
Pass code: 21200311 (pound sign)
A presentation providing further information on these transactions and on the business combination will also be available on Yamana's and Viceroy's web sites at www.yamana.com and www.viceroyexploration.com, respectively.
A table summarizing the reserves and resources for each of Viceroy's and Yamana's projects is provided as follows:
Resources summary Measured Indicated
tonnes grade tonnes grade
(000s) (g/t) (000s) (g/t)
Fazenda Brasileiro -- UG (1) 1,158 3.140 2,722 2.990
Fazenda Brasileiro -- OP (1) 249 2.420 937 1.550
Fazenda Nova (1) 4,226 0.840
Sao Francisco (1) 24,398 0.600 55,574 0.660
Chapada (1) 25,200 0.300 396,200 0.220
Jacobina project (3) 3,400 2.680 24,500 2.560
San Andres (2) 38,975 0.780
Sao Vicente (1) 20,786 0.580 16,228 0.520
C1 Santa Luz (1) 18,400 1.660
Ernesto (1) 160 5.260 682 5.230
Viceroy (4) 4,698 1.187 34,496 1.127
tonnes grade tonnes grade
Copper (000s) (%) (000s) (%)
Chapada 25,200 0.34% 396,200 0.30%
Resources summary Measured and indicated Inferred
tonnes grade ounces tonnes grade ounces
(000s) (g/t) (000s) (000s) (g/t) (000s)
Fazenda
Brasileiro --
UG (1) 3,880 3.030 378.1 780 4.280 107.4
Fazenda
Brasileiro --
OP (1) 1,185 1.730 66.1
Fazenda Nova (1) 4,226 0.840 114.2 95 0.500 1.5
Sao Francisco (1)79,971 0.640 1,651.5 60,495 0.450 879.1
Chapada (1) 421,400 0.220 3,045.5 250,870 0.150 1,226.0
Jacobina
project (3) 27,900 2.570 2,311.0 33,600 2.800 3,029.0
San Andres (2) 38,975 0.780 978.9 29,700 0.650 625.0
Sao Vicente (1) 37,015 0.560 660.5 5,658 0.610 111.0
C1 Santa Luz (1) 18,400 1.660 982.4 2,013 3.090 199.7
Ernesto (1) 842 5.240 141.8 483 4.600 71.4
Viceroy (4) 39,195 1.136 1,428.0 14,232 1.339 610.0
11,758.0 6,860.1
tonnes grade lb tonnes grade lb
Copper (000s) (%) (000s) (000s) (%) (000s)
Chapada 421,400 0.30% 2,809.3 250,870 0.25% 1,393.7
Reserves Proven Probable Proven and probable
tonnes grade tonnes grade tonnes grade ounces
(000s) (g/t) (000s) (g/t) (000s) (g/t) (000s)
Fazenda
Brasileiro
-- UG (1) 1,100 3.100 969 2.490 2,069 2.817 187.4
Fazenda
Brasileiro
-- OP (1) 249 2.420 249 2.420 19.3
Fazenda
Nova (1) 3,330 0.862 3,330 0.862 92.3
Sao
Francisco
(1) 20,121 0.610 43,885 0.680 64,006 0.660 1,362.4
Chapada
(1) 18,379 0.330 292,135 0.250 310,514 0.260 2,547.5
Jacobina
project
(3) 3,065 2.208 18,517 2.173 21,580 2.180 1,510.0
San
Andres
(2) 17,339 0.860 17,339 0.860 477.1
Sao
Vicente
(1) 15,207 0.630 8,678 0.570 23,885 0.610 470.0
C1 Santa
Luz (1) 9,200 1.880 9,200 1.880 556.0
7,222.0
tonnes grade tonnes grade tonnes grade lb
Copper (000s) (%) (000s) (%) (000s) (%) (000s)
Chapada 18,379 0.42% 292,135 0.34% 310,514 0.34% 2,349.7
Notes:
As of Dec. 31, 2005
As of Dec. 31, 2004
As of Dec. 15, 2005
As of Dec. 8, 2004
We seek Safe Harbor.
Huge new proven gold find!
Check out GPGD on Pink sheets, or otc site.
It's the new largest gold find in Latin America and has been tested and proven by Carlos Rodriguez who has worked with such mines as The Yanococha Gold Mine in Peru, currently the largest operating mine in Latin America.
GPGD has almost 4 million recoverable ounces of gold in ground!
Been buying up shares myself as money permits.
Do the calculations, just over 10,000,000 shares and billions of dollars worth of in ground reserves! Share price has to start rising soon as people here about this one.
TNR Full Picture of Hole 43
http://www.tnrgoldcorp.com/news/TNRnr072606.pdf
SKV and WRS 100 meters 1.09 grams per ton
SKV 44mil shares stock price 2 buks
Wrs 20 mil shares stock price 1.80
Comparing SKV and WRS with TNR
TNR
The hole was successful in both areas. Hole 06-43 returned gold grades averaging 1.29 grams per tonne gold over 690.5 feet (210.5 metres)
42 mil Shares Stock price 32 cents
Who could know? bring on the pump!
Rumour is that a Schaefer pump is on the way for MFM
LC
Marifil to drill Esperanza Cu-Ag deposit
2006-07-26 08:54 ET - News Release
Mr. John Hite reports
MARIFIL TO DRILL ESPERANZA COPPER PROPERTY
Marifil Mines Ltd. is preparing for a 3,000- to 5,000-metre drilling program on its wholly owned Esperanza stratabound copper silver deposit in Neuquen province, Argentina. Numerous targets have been identified, the company is soliciting bids for a drill contractor, and drilling is to begin as soon as possible.
Marifil has recently acquired an addition 12,000 hectares at Esperanza, bringing the company's total propertyholdings there to 24,000 hectares. The Esperanza property is located about 100 kilometres northwest of Neuquen, the capital of Neuquen province. The property is easily accessible by good roads and can be worked all year. The ore targets are large shallow heap leachable copper-silver deposits.
Esperanza was discovered by Richard Walters, now Marifil's executive vice-president, in the early 1990s and first drilled by MIM (now Xstrata) in 1995. MIM drilled 52 rotary air blast (RAB) holes totalling 2,467 metres and 68 reverse-circulation (RC) holes totalling 3,135 metres. This work outlines a historical estimated resource of 1.5 million tonnes grading 0.5 per cent copper. (Note: This is not a 43-101-compliant resource and caution should be used with regard to the accuracy of these historic results.) This resource crops out in the valley of the Neuquen River and several geologists suggest that the original resource may have exceeded 50 million tons, most of which has been removed by erosion.
Following a recent re-examination of the data, Mr. Walters determined that the known mineralization may represent the north limb of a very large roll front copper deposit. The postulated south limb would lie perhaps two to five kilometres to the south, concealed by a thicker section of overlying rocks. Cross-sections of the prior drilling clearly show red, unaltered sandstones lying north of a zone 300 to 500 metres wide containing copper and silver in bleached white altered sandstones. Mineralization is flanked to the south by a very large area of bleached sandstones containing strongly anomalous copper values.
The size and strength of the alteration and mineralization suggest that the front of this roll front deposit could comprise a very large and rich copper silver target, believed to be approximately 30 metres thick. Most of this target lies at depths of less than 35 metres. The company is planning to drill 3,000 to 5,000 metres to trace mineralization east to the roll front. Marifil's objective is to delineate a deposit of between 30 million and 50 million tonnes grading over 0.4 per cent copper along with significant silver credits and amenable to low-cost open-pit mining and heap-leach extraction.
The property is underlain by the Middle Huincul member of Upper Cretaceous age. The Middle Huincul rocks are coarse-grained porous and permeable sandstones bounded by impermeable siltstones and claystones. Mineralization includes chalcocite, silver sulphosalts and copper oxides. Copper minerals have been identified along a zone 300 to 500 metres wide, 6,000 metres in length and up to 15 metres thick. This zone is open ended to the east.
This news has been reviewed and approved by John Hite, president of Marifil Mines, and Richard Walters, vice-president, under whose direction the exploration program is being carried out. Mr. Hite and Mr. Walters are qualified persons as defined by National Instrument 43-101.
Judgment Goes Against IMA on Navidad Court Decision
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 16, 2006) - IMA Exploration Inc. (TSX VENTURE:IMR)(AMEX:IMR)(FWB:IMT)(WKN:884971) wishes to announce that on Friday, July 14, 2006 after seven months of consideration Madam Justice Koenigsberg of the Supreme Court of British Columbia ruled against IMA Exploration Inc. in the case brought by Minera Aquiline Argentina SA alleging breach of a Confidentiality Agreement entered into between IMA and Newmont Mining in 2002 concerning the potential sale of a gold property in Argentina.
The trial judge has held that all information provided by Newmont's personnel was covered by the agreement and that accordingly IMA's geologists were not permitted to make use of the information in directing their exploration activities. The judge has ordered the defendants to transfer the Navidad mining claims to the plaintiff upon payment of reasonable acquisition and development costs incurred by IMA.
Management of the Company has carefully reviewed the trial judge's reasons. Counsel has been instructed to appeal the judgment immediately and to seek the earliest possible date for the hearing of the appeal. It is expected that the appeal will focus on the legal correctness of the trial judge's interpretation of the Confidentiality Agreement as well as other grounds of appeal. Management believes that the trial judge's interpretation of the agreement is contrary to the terms of the agreement itself, industry practice and understanding and the facts made known at trial. The Company will ask the Court of Appeal that the judgment be set aside in its entirety.
As soon as the timing of the appeal becomes known it will be announced in the normal course.
ON BEHALF OF THE BOARD
"Joseph Grosso"
Mr. Joseph Grosso, President & CEO
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
CONTACT INFORMATION
IMA Exploration Inc.
Joseph Grosso
President & CEO
1 (800) 901-0058 or (604) 687-1828
(604) 687-1858 (FAX)
or
IMA Exploration Inc.
Sean Hurd
Vice President, Investor Relations
1 (800) 901-0058 or (604) 687-1828
(604) 687-1858 (FAX)
info@imaexploration.com
www.imaexploration.com
Golden Arrow Resources Corporation: Soil and Talus Fines Anomalies Identified on the Antiguyo Gold Property
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 12, 2006) - Golden Arrow Resources Corporation (TSX VENTURE:GRG) is pleased to report that it has received results for the first phase of soil grid and composite talus fines sampling on the southern portion of the Antiguyo property in Sierra de Rinconada district of Jujuy Province, Argentina. Three approximately 1 km long areas of anomalous talus fines samples and a number of new gold in soil anomalies have been delineated along with soil anomalies related to known gold-bearing quartz veins. The 100% owned 2,800 hectare Antiguyo I claim, which hosts high-grade gold vein occurrences that assayed up to 384.49 g/t gold from a 2m surface channel sample (see April 13, 2006 News Release), forms the southern portion of the 5,643 hectare Antiguyo property.
Phase I soil sampling comprised 301 samples collected over a 1,900m by 650m grid in the west-central portion of the Antiguyo 1 property where, 24 previously reported rock samples were collected. Soil analytical results ranged from less than 5 ppb up to 189 ppb gold. A total of 110 composite talus fines samples were also collected on the property to identify geochemically anomalous areas for follow-up prospecting and soil sampling; analytical results ranged from less than 5 ppb (approximately 78% of the dataset) to 12 ppb gold.
The results of this first phase of exploration on Antiguyo I confirm the property's potential to host numerous high-grade gold-bearing quartz veins. The next phase of exploration on Antiguyo I will include semi-detailed geological mapping, comprehensive surface rock sampling and channel sampling, infill and expansion of the current soil grid and additional soil grid sampling to follow up on anomalous areas detected by the talus fines sampling program. This work is expected to resume later in July 2006. Preliminary prospecting, rock and talus fine sampling is currently underway on the Antiguyo II claim which comprises 2,843 hectares and is located immediately to the north of Antiguyo I. A program of detailed channel sampling on the Company's San Jose property, located 20 km to the north of Antiguyo has recently been completed and assay results are awaited.
The July 6, 2006 News Release listing Golden Arrow's properties affected by the 36 month metallic mining suspension in western Chubut Province, Argentina incorrectly listed the Company's Las Bayas property. Golden Arrow properties affected include only Laguna de los Toros, Costa and Corcovado.
Technical Summary:
The Antiguyo property is located on the western slope of the Sierra de Rinconada in northern Argentina which comprises a continuous 30km by 130km northeast-trending belt of folded Middle Ordovician turbidites that host epizonal orogenic gold deposits. These deposits are aligned parallel to the fold trend and generally occupy the flanks of regional anticlines. Although gold deposits in Sierra de Rinconada share many characteristics with well-documented orogenic gold deposits in Phanerozoic fold belts elsewhere (e.g., Tasmanides, eastern Australia; Meguma Terrane, Nova Scotia; Tien Shan, central Asia) this belt has received little modern exploration.
Preliminary mapping of the Antiguyo I claim indicates that gold mineralization is hosted by the steeply dipping western flank of a gently plunging (less than 40 degrees) asymmetric anticline. The axial plane strikes northerly (between 0 degrees and 25 degrees) and dips steeply to the east. Saddle reefs (i.e. bedding parallel veins that thicken in the hinge of anticlines) are ubiquitous at Antiguyo due to the tight nature of the fold. These veins can contain medium to coarse-grained gold (1mm to 0.5cm) which occurs along limonite-rich fractures within massive quartz, as fine films near crack-seal laminations, and along vein-wall contacts. An increase in quartz-vein density appears spatially associated with a colour anomaly visible on satellite images that is sub-parallel to bedding.
A total of 110 talus fines samples were collected at the Antiguyo I property on the eastern flank of the range and following the wider valleys. Each sample is a composite of material finer than a Tyler mesh #9 collected every 10-15m over a distance of approximately 250m at the base of the slope. Samples were collected over 25 km of traverses covering the entire property. Talus fines samples ranged from below detection (approximately 78% of the dataset) to 12 ppb gold.
Talus fines samples collected beneath areas of known vein mineralization, such as the talus fines sampling traverse that was run to the west of rock samples GA1506 (384.49 ppm gold) and GA1500 (17.28 ppm gold) (reported in April 13, 2006 News Release), have gold concentrations over 6 ppb defining the lower threshold of what is considered anomalous in the Antiguyo I claim area. Three areas of talus fines samples with grades that range from 6 to 12 ppb gold occur on the northern half of the claim, one of which is a cluster of samples occurring over approximately 1km, whereas two clusters of anomalous samples, each covering approximately 1km, with grades generally between 6 and 8 ppb were collected on the southern half of the claim (see Figure 1).
The first phase soil sampling comprised 301 samples collected every 50 m along 20 east-west lines spaced 100 m apart. The soil grid covered a 1,900 by 650 m area (Figure 2) centred and following the general N-S orientation of the mineralized veins previously sampled on the Antiguyo I claim. Soil samples ranged from less than 5 ppb up to 189 ppb gold (Figure 2). Soil values over 25 ppb Au correlate with the location of known high-grade veins. Other anomalous areas identified on the soil grid will require follow-up work to identify the source of the anomalies. Multi-station gold in soil anomalies within the grid area are generally 100m to 400m in length and irregular in shape and grade distribution.
In the area of the soil grid on the Antiguyo I property the A-horizon is generally absent and the samples were comprised predominantly of C-horizon material. It is important to note that the soil grid extends over a moderate to steeply west-dipping slope. Thus, the metal distribution might be influenced by soil transport. The sampling procedure involved collecting approximately 1 kg of material finer than a Tyler mesh #9 (2.05mm) from 5-20cm below the surface in order to reduce the influence of aeolian transported particles. The sampled material was submitted to the lab, where it was dried and processed. Reported results are from material finer than a #80 Tyler mesh (0.18mm).
Additional maps and photos from the Antiguyo I gold property are available on the Company's website (www.goldenarrowresources.com).
Analyses for the samples reported herein were performed by SGS Lakefield Research, an internationally recognized assay service provider, in Santiago, Chile. Exploration work reported on in this release was carried out under the supervision of Golden Arrow's Argentine Exploration Manager Diego Charchaflie, M.Sc. and Senior Geologist Gustavo Rodriguez, Ph.D. The technical information contained in this release has been reviewed by Dr. David A. Terry, P.Geo., Vice President Exploration for Golden Arrow, a Qualified Person as defined in National Instrument 43-101.
Golden Arrow is in a strong position for growth with only 7.8 million shares outstanding, a market capitalization of CDN $5.5 million, a treasury with CDN $2.5 million in cash and marketable securities (as of Dec. 31, 2005), no debt and a 1% net smelter royalty ("NSR") on Viceroy Exploration Ltd.'s exciting Gualcamayo gold project that is currently at the feasibility stage. Golden Arrow's property portfolio contains 28 precious and base metal projects that cover over 125,000 hectares of prospective ground in both Argentina and Peru.
Through the Company's alliance with The Grosso Group, new opportunities are continuously being presented and reviewed. Other members of The Grosso Group include IMA Exploration Inc., Amera Resources Corporation, Astral Mining Corporation and Gold Point Energy Corp.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, President & C.E.O.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
To view Figure 1: Talus fines sample location and Soil grid boundary on the Antiguyo I Claim, please click on the following link: http://www.ccnmatthews.com/docs/0712grg.jpg
To view Figure 2: Soil grid results, Antiguyo I Claim, please click on the following link: http://www.ccnmatthews.com/docs/0712grg1.jpg
2006 Number 6
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.
Marifil extends Toruel vein
2006-06-01 09:28 ET - News Release
Mr. John Hite reports
PHASE III DRILLING EXPANDS TORUEL DEPOSIT
Marifil Mines Ltd.'s phase III drilling confirms the Toruel vein extends at least 150 metres farther westward from previous drilling. Importantly, it also showed mineralization continuing down dip where DH-55 intercepted 3.65 m grading 1.94 grams per tonne gold, 438 g/t silver and 0.25 per cent copper. This intercept is approximately 70 m below the surface and 40 m below the previously reported (see news as reported in Stockwatch July 20, 2005) intercept of 0.70 m grading 1.92 g/t gold, 594 g/t silver and 2.14 per cent copper in DH-27.
Notes John Hite, Marifil's president and chief executive officer: "In summary, the current drilling did not close off the Toruel mineralization, and leaves open some tantalizing possibilities of oreshoots extending to depth. Additionally, we think the highly geochemically anomalous metal values in drill samples from the nearby White Goat and Uno veins reflect much stronger underlying mineralization."
The company completed 1,590.25 m of reverse circulation (RC) drilling and 179.65 m of core drilling in 14 holes on its phase III drill program.
Drill holes DH-49, 50, 51 and 52 tested the West vein (a western extension of the main Toruel vein). RC-50 cut three mineralized intervals including 2.0 m grading 1.14 g/t gold, 256 g/t silver and 0.61 per cent copper.
Company geologists have divided the Toruel vein system into three segments called the Main vein, Hidden vein and West vein. Each segment is separated by cross-faults.
West vein
West vein (RC holes are reverse circulation holes; DH holes are diamond drill core holes):
Drill From To Width Au Ag Cu
hole (m) (m) (m) (g/t) (g/t) (%)
RC-49 Only geochemically
anomalous
mineralization
RC-50 72.0 73.0 1.0 0.49 102 0.35
Plus 81.0 82.0 1.0 0.35 158 0.11
Plus 105.5 107.5 2.0 1.14 256 0.61
Including 1.0 1.81 420 1.09
RC-51 94.0 95.0 1.0 0.25 91 0.17
RC-52 Only geochemically
anomalous
mineralization
Drill hole From To Width Au Ag Cu
(m) (m) (m) (g/t) (g/t) (%)
DH-53 39.7 41.65 1.95 0.93 192 0.19
DH-54 73.0 73.85 1.85 0.61 88 <0.1
DH-55 80.5 84.15 3.65 1.94 438 0.25
Including 1.0 4.86 896 0.20
RC-56 Only geochemically
anomalous
mineralization
RC 60 56.0 58.0 2.0 0.10 238 0.96
RC-61 115 118 3.0 0.43 108 <0.10
Including 115 116 1.0 0.58 154 0.12
Drill hole From To Width Au Ag Cu
(m) (m) (m) (g/t) (g/t) (%)
RC-57 38.5 40.5 2.0 0.45 78 <0.01
Cascadero Copper Corporation: Santa Rosa Drill Program on Tom Zone Completed
Monday June 5, 9:00 am ET
http://ca.us.biz.yahoo.com/ccn/060605/200606050331539001.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - Cascadero Copper Corporation (TSX VENTURE:CCD - News; "Cascadero") has completed 13 NQ core holes on the Tom Zone at the Santa Rosa gold-silver prospect in north western Argentina. A total of 1,100.4 metres was completed. Core recovery ranged for a low of 89.1% to a high of 98.8% and averaged 94.8%. Drilling was conducted by Connors Argentina S.A. without material problems.
The core holes tested about 200 metres of strike length to a vertical depth of about 115 metres below surface, which is equivalent to 145 metres down dip.
The characteristics of the mineralization in surface outcrop and trenches are as follows:
- textures consist of multiple criss-crossing micro fractures and breccias;
- style of mineralization is transitional to mesothermal and gold dominant;
- alteration consists of limonite, goethite, sericite, hematite and silica;
- two lithologies are present - intrusive and sedimentary rocks;
- this material assays gold and silver in trenches and outcrops;
- the reader can refer to recent news releases where values are stated.
Similar looking altered, fractured and brecciated material occurs in the drill holes over variable thicknesses ranging from 15 to 55 metres.
The Tom Zone essentially strikes east to west and dips variably from -50 degrees to -60 degrees to the south. The azimuth of the drill holes is due north. The dip of the 13 core holes ranges between -45 degrees to -80 degrees. The true thickness of the mineralized interval in drill core is estimated at 95% to 100% for holes dipping from -45 degrees to -50 degrees (7 holes). The other six holes dip from -68 degrees to -80 degrees, which suggest that the true thickness of the mineralized interval in these core holes ranges from 70% to 80%.
The altered zone in drill holes is narrowest in the most south easterly core hole (PT-06-01) and thickens to the northwest (PT-06-13). It is believed that the altered zone is open to depth and also continues along strike under the pediment to the northwest of core hole PT-06-13. Excavator trenching along strike of PT-06-13 failed to reach bedrock.
Assays from the first 8 core holes are expected between June 12th and June 16th.
Sample preparation is conducted by Acme Analytical, Mendoza Argentina and assaying is conducted by Acme Analytical, Vancouver BC. All assays are 60 gram (two-assay tonne) fire assays with 34-element ICP. Field work is under the direction of Dave Kuran, P. Geo., who is the qualified person for Cascadero and its parent company Stealth Minerals Limited ( SML: TSXV).
Cascadero has an option to acquire a 51% interest in the Santa Rosa Property from Argentine Frontier Resources Inc. (AFRI) and its subsidiary Salta Exploraciones S.A. (SESA). Cascadero, Stealth, AFRI and SESA are related parties. Dr. Tom Richards, P. Geo. is the qualified person for AFRI and SESA.
By way of its share ownership in Cascadero and AFRI, Stealth Minerals holds a 39% equity interest in the property. Stealth Minerals also provides management and geological consulting services to Cascadero Copper.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact:
Bill McWilliam
Cascadero Copper Corporation
Chief Executive Officer
Cell: (604) 999-0391
Office: (604) 924-5504
Bill@Cascadero.com
--------------------------------------------------------------------------------
Source: Cascadero Copper Corp.
Marifil does not explain share activity
2006-05-18 13:06 ET - News Release
Mr. John Hite reports
MARIFIL MINES LTD.: NO MATERIAL CHANGE
Marifil Mines Ltd. is not aware of any material change related to either its business or assets that would affect the company's common shares or warrants.
Corex Gold Signs Joint-Venture with Viceroy Exploration Ltd.
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 8, 2006) - Corex Gold Corp. ("Corex") (TSX VENTURE:CGE) is pleased to announce that an agreement has been signed whereby Corex can acquire a controlling interest in the 3,938 ha Evelina Property located in the High Andes, in northern San Juan Province, Argentina. The Evelina property lies in the highly prospective Frontera Region, at the northern end of the El Indio-Pascua mineral belt. The belt is host to several world class mineral deposits, including Barrick Gold's 12.8 Moz Au Veladero deposit in Argentina and their 18.3 Moz Au Pascua-Lama deposit. The Evelina property lies 15 km from the Veladero property and this area is considered one of the largest gold systems under development in the world today.
The Evelina property, which lies immediately south of the Taguas high sulfidation system contains telescoped porphyry, low sulfidation quartz-sulfide gold + copper and high sulfidation style alteration and mineralization (Corbett). Rock types include ignimbrite tuffs, granitoid intrusives and porphyry-related magmatic hydrothermal breccias. Veins trend E-W to ENE, and low sulfidation quartz-sulfide style gold mineralization also occurs in the matrix to magmatic hydrothermal breccias. Widespread geochemical gold anomalies, alteration zones and veining have been identified, with gold assays in veins up to 8.6 g/t Au and 200 g/t Ag. Strong arsenic, antimony, mercury, copper and molybdenum anomalies coincide with the gold and silver and in some cases extend beyond it.
Previous exploration conducted on the property by Viceroy Resource Corporation and Barrick Gold outlined potential for both high and low sulphidation gold systems.
Pursuant to the terms of the agreement with Viceroy, Corex can earn a 60% interest in the Evelina Property through expenditures, with pre-agreed minimum annual exploration expenditures aggregating to US $3.5 million over 4 years, and by issuing a total of 800,000 common shares over the 4 year period. Viceroy has the right to increase its interest to 60%, thereby reducing Corex's interest to 40% ("back-in right") by incurring a one and a half times the $3,500,000 expenditures made by Corex. The foregoing is subject to all requisite regulatory approvals and execution of a detailed earn-in agreement within 45 days. Dr. John Carden, Ph.D., P.Geo., VP Exploration for Corex Corp., is a Qualified Person as defined by National Instrument 43-101 and supervised the contents of this release.
About Corex Gold Corp.:
Corex Gold Corp. is a Junior gold exploration and development company active in its search for high quality projects that have low production cost potential and contain the likelihood of a 1,000,000-ounce plus deposit.
ON BEHALF OF THE BOARD
Craig Schneider, President & CEO
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The TSX Venture Exchange has neither approved nor disapproved of the contents herein.
Cascadero Copper Corporation: Drill Program Commences at Santa Rosa
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 5, 2006) - Cascadero Copper Corporation ("Cascadero") (TSX VENTURE:CCD)(FRANKFURT:C5C) announced that it has signed a drill contract with Connors Argentina S.A. for a minimum of 1,300 metres of NQ core drilling on the Santa Rosa gold prospect in Argentina. The drill is on site and the program will be underway immediately. Cascadero has an option to earn a 51% interest in the property from Argentine Frontier Resources Inc (AFRI). Stealth Minerals (TSX VENTURE:SML) has a 38% indirect interest in the property by way of its equity interest in Cascadero and AFRI. Cascadero, Stealth and AFRI are related companies.
Up to 15 core holes are planned on two gold bearing zones, known as the Tom and Kelly zones. Gold and silver mineralization outcrops on both zones.
Dave Kuran P. Geo. Chief Geologist and project manager for the Company is also the qualified person under the 43-101 guidelines. Assaying will conducted by ACME Laboratories in Mendoza, Argentina.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Mansfield operator Antares begins drilling Rio Grande
2006-04-20 18:54 ET - News Release
Mr. Gordon Leask reports
DRILLING COMMENCES AT RIO GRANDE
A 5,000-metre drill program conducted by Mansfield Minerals Inc.'s joint venture partner, Antares Minerals Inc., has commenced at the Rio Grande copper-gold porphyry project in northwestern Argentina. The program will consist of 15 to 20 drill holes and will focus on the extension of near-surface copper-gold mineralization previously defined in the Discovery and Sofia zones, and deeper drilling to test for a large porphyry copper-gold system in the Central zone.
Previous drilling and trenching on the property have delineated a zone with dimensions of 1,450 metres long by an average of 130 metres wide between the Sophia zone and the Discovery zone. The grades to date average 0.33 per cent Cu and 0.35 grams per tonne (g/t) gold (Au), including dilution. Highlights within this zone are 108 metres of 0.57 per cent Cu and 0.92 g/t Au in trench (T-28) and 86 m of 0.45 per cent Cu and 0.66 g/t Au in drill hole RGA-12 (see news release in Stockwatch dated March 31, 2005).
Exeter Resource Corporation: Drilling Extends Cuello Zone Gold and Siliver Mineralization
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 27, 2006) - Exeter Resource Corporation (TSX VENTURE:XRC)(FWB:EXB) reports that five new diamond drill holes have extended the known epithermal gold mineralization within the Cuello Zone at its La Cabeza gold project, in Argentina. The drilling has now confirmed the presence of at least six mineralized sub-parallel veins in the zone.
Of particular note, results from a hole to test the easternmost veins of the Cuello Zone returned an intercept of 5 metres at a grade of 6.2 grams per tonne gold ("g/t") gold and 104 g/t silver. Separately, three holes drilled to test the westernmost Cuello veins returned intercepts of 1 metre at a grade of 30.5 g/t gold, 3.8 metres at a grade of 3.5 g/t gold, and 6 metres at a grade of 2.8 g/t gold.
Exeter's Chairman, Yale Simpson, commented: "These results support our understanding that the Cuello Zone vein system is open to the north and south, along strike and at depth. They are also consistent with our recent discovery of an extension to the Luna Zone. We now await a large batch of diamond drilling results from the Mandibula Zone, where we are following up highly-promising channel sampling results. All of these results will be reflected in a new resource estimate later this year."
Golden Peaks cuts 65.4 m of 5.72 g/t Au at La Fortuna
2006-04-06 15:51 ET - News Release
Mr. Scott Emerson reports
NEW HIGH GRADE GOLD ZONES AT LA FORTUNA
Golden Peaks Resources Ltd. confirms the discovery of new high-grade gold mineralization in holes LF-16 and LF-14, which were drilled on the Amphitheatre zone (A structure), on the La Fortuna project in Patagonia, Argentina -- see Table 1. The high-grade gold and silver assays in LF-16 were confirmed by gravimetric assay -- see Table 2. Holes LF-16 and LF-14 lie approximately 1,000 metres northwest of the T-11 zone (see news in Stockwatch on Jan. 20, 2006). Hole LF-16 is located 250 metres north of LF-14.
TABLE 1
Hole Int. Au Ag
(m) (g/t) (g/t)
LF-16 65.40 5.72 -
Incl. 7.40 45.60 -
Incl. 3.50 96.22 60.79
Incl. 1.90 172.63 108.13
Incl. 38.30 0.47 -
Incl. 1.70 6.71 24.27
Incl. 18.00 0.38 -
LF-14 2.40 3.65 -
Incl. 1.50 5.68 -
Incl. 0.50 11.64 -
TABLE 2
FA/AA* FA/GR**
Au Ag Au Ag
(ppm) (ppm) (ppm) (ppm)
235.19 115.5 231.8 124
197.91 117.1 190.4 108
259.12 105.9 267.8 124
89.81 95.2 85.4 99
83.83 102.4 85.4 124
Marifil Retains Investor Relations Group
TORONTO, ONTARIO--(CCNMatthews - March 28, 2006) - Marifil Mines Ltd. (TSX VENTURE:MFM) ("Marifil" or "the Company") is pleased to announce that it has entered into a consulting agreement with Scott F. Gibson & Company Inc. pursuant to which Mr. Scott Gibson and his company will provide investor relations and corporate finance services to the Company. The consulting agreement is for a term of one year at a retainer fee of $5,000 per month.
The Company will be granting an option to Mr. Gibson to purchase common shares in the capital of the Company. The options, which are subject to regulatory acceptance, will be exercisable at a price of $0.30 per share and will vest over a one year period.
Marifil Mines is a Canadian-listed resource exploration company with an aggressive strategy focused on exploring and developing precious and base metals in Argentina. Visit our website at www.marifilmines.com for the latest corporate information.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
AQI made a huge move.
Mansfield Minerals arranges $6-million placement
2006-03-23 15:09 ET - News Release
Mr. Gordon Leask reports
MANSFIELD MINERALS INC.: NON-BROKERED PRIVATE PLACEMENT ANNOUNCED
Mansfield Minerals Inc. has arranged a $6-million non-brokered private placement of 2,727,273 units. Each unit, priced at $2.20, consists of one common share of the company and one-half of one common share purchase warrant. Each whole common share purchase warrant will enable the subscriber to purchase one common share of the company at a price of $3.00 per share for a period of one year from the date of closing the private placement. The securities issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
The company has agreed to pay finders' fees payable in cash and equal to 7-1/2 per cent of the gross proceeds received from the subscribers introduced to the company by the finders. In addition, the finders will be entitled to receive a warrant entitling them to purchase common shares of the company equal to 10 per cent of the number of units purchased by subscribers introduced to the company by the finders. Each finder's warrant is exercisable into a common share of the company at a price of $2.20 per share for a period of one year from the date of closing the private placement.
The company intends to use the net proceeds of this private placement to finance prefeasibility work on its Lindero property in northwestern Argentina and for general working capital purposes.
The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
Marifil Acquires Attractive Gold Project
SPOKANE, WASHINGTON--(CCNMatthews - March 21, 2006) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that it has signed a Letter of Intent with MIM Exploraciones S.A. (a wholly-owned subsidiary of mining giant XSTRATA) to acquire the San Roque gold project in Rio Negro Province, Argentina. Marifil agrees to pay MIM US$3,000 for a due diligence period and then commits to spending $50,000 annually in work on the property for four years. Marifil has the right to purchase 100% of the property at any time by making a single cash payment of $400,000.
The property is underlain by Jurassic age rhyolite flows and domes and a K-feldspar rich syenite stock. Gold mineralization is hosted by quartz-fluorite and milky quartz veins in the syenite; by manganese oxide rich quartz veins in weakly brecciated rhyolites; and by gossan rich breccia structures. Visible gold is present in several of the veins and breccia structures.
MIM collected 1,018 soil and rock chip samples, carried out a comprehensive Induced Polarization (IP) survey, and then drilled 19 drill holes in the period 1999-2002. They also collected and assayed 698 rock samples. Of these, 11 (2%) contain greater than 5.0 g/t gold, 52 (7%) contain greater than 1.0 g/t gold, and 198 (28%) contain greater than 0.1 g/t gold. Their drilling did not test all the geochemically anomalous zones because their target objective was for a huge low grade, bulk mineable deposit. Many of the drill holes were aimed to test IP targets, rather than surface geochemical gold anomalies or even high grade gold values found in outcrops of quartz veins and hydrothermal silica breccias. Most of the holes are also relatively isolated, being spaced from 500 to more than 1,000 meters apart. Several drill hole intercepts of interesting gold values have not been geologically appraised, and the Company believes follow up drilling is warranted.
The San Roque property comprises approximately 12,705 hectares and is located 56 kilometers east of San Antonio Oeste, a port on the Atlantic coast. The property can be worked year round, is easily accessible by paved highway and the area is bordered by a railway.
Targets remaining on this under-explored property include high grade gold quartz veins and structurally controlled gold-bearing silicified breccias, as well as potential for disseminated bulk tonnage gold deposits in certain favorable rhyolite horizons. The terrain is subdued, with at least 30% of the property covered by unconsolidated surficial deposits. The Company intends to conduct a concerted trenching program to explore the projections of identified gold bearing linear structures under the covered areas.
Two of the more interesting MIM drill hole results are:
---------------------------------------------------------------------Drill Hole # Interval Drill Intercept(a) Gold (g./t) Silver (g/t) (meters)(m) ---------------------------------------------------------------------SRRC-2 90-92 2 1.27 77--------------------------------------------------------------------- plus 94-96 2 5.69 26---------------------------------------------------------------------SRRC-3 62-64 2 1.75 29--------------------------------------------------------------------- plus 78-80 2 8.01 46---------------------------------------------------------------------((a)Insufficient data is available to determine true widths.)
SRRC-2 and SRRC-3 are 1,000 m apart, with no drilling or trenching between them. Similarly, two large quartz alunite alteration areas in the northwest quadrant of the property have never been sampled, trenched, or drilled.
The Company intends to carry out a full scale evaluation of the poorly exposed gold bearing vein and breccia structures, including closer spaced drilling on the gold values found in the MIM campaign - which have remained largely untested.
This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.
For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Rome hops on uranium bandwagon with Argentina claims
2006-03-02 18:52 ET - News Release
Mr. Colin Godwin reports
ROME OBTAINS SEVEN CONCESSIONS FOR URANIUM IN THREE AREAS TOTALING 60,800 HECTARES IN THE PROVINCES OF LA RIOJA AND SAN LUIS, CENTRAL ARGENTINA
Rome Resources Ltd. has obtained seven concessions for uranium prospecting in three areas of central Argentina by application directly to the provincial governments of San Luis and La Rioja. The areas were staked because they potentially hold significant uranium deposits. Uranium exploration in Argentina is a new direction for Rome Resources. The concession areas are as follows:
Olta, totalling 45,000 hectares in five concessions Santa Rosa, with 9,800 hectares in one concession, and La Suiza of 6,000 hectares in one concession. The concessions have claimed rights to all lode minerals, but several small placer and industrial-mineral claims fall within the boundaries of these applications.
Olta concessions (45,000 hectares), in La Rioja province, are about 80 kilometres north-northeast of the town of Chepes. Uranium mineralization of interest was discovered in Permian conglomerate within 50 metres of an underlying unconformity with "hot" metamorphic and granite Precambian basement. Black, carbon-rich shales in the Permian rocks are notably radioactive as well. Of particular interest, is the uranium rich (1,600 parts per million uranium) zone associated with staining by secondary minerals in the conglomerate. An underlying shale unit yielded more than 50,000 counts per minute above background. The mineralized conglomerate indicates ground water transport, perhaps related to the underlying basement aquatard-unconformity, that could be related to localization of significant uranium deposits.
Exeter samples 3.0 m of 16.3 g/t Au at Central vein
2006-03-15 06:41 ET - News Release
Mr. Bryce Roxburgh reports
EXETER RESOURCE CORPORATION: NEW HIGH-GRADE GOLD INTERSECTIONS EXTEND RECENT DISCOVERIES-TWO GOLD ZONES LIKELY LINKED
Exeter Resource Corp.'s resource expansion drilling continues to encounter high-grade gold mineralization, extending the strike length of recent discoveries at its La Cabeza project in Argentina. New drill intercepts from the Central vein zone include three metres (10 feet) at a grade of 16.3 grams (0.47 ounce per ton) per tonne gold, three metres (10 feet) at a grade of 11 grams per tonne gold (0.32 ounce per ton) and two metres (6.6 feet) at a grade of 15.2 grams per tonne gold (0.44 ounce per ton). The zone is situated immediately north of, and along strike from, the Cuello zone and is the site of high-grade vein intercepts announced in Stockwatch on Nov. 16, 2005.
Significantly, structural interpretation of the new data, combined with a strong gold-silver association, indicates that the Central vein zone is likely linked to the important Cuello zone, forming a single zone of gold mineralization. Exeter's exploration manager, Matt Williams, commented: "The results from drill holes LCP-198 and LCP-199 are particularly significant as they extend the zone of high-grade mineralization previously identified in drill hole LCP-188 (six metres (20 feet) at a grade of 60.5 grams per tonne (1.75 ounces per ton) gold). The vein outcrops for 300 metres (1,000 feet) and the new results indicate much stronger subsurface mineralization than is evident in outcrop directly above the drill intersections.
A tale of two Argentinas
http://news.bbc.co.uk/1/hi/programmes/from_our_own_correspondent/4793814.stm
Golden Peaks to raise $8.25-million privately
2006-03-07 10:56 ET - News Release
Mr. Scott Emerson reports
GOLDEN PEAKS ANNOUNCES PLACEMENT OF MAJOR FINANCING
Golden Peaks Resources Ltd. has engaged Ocean Equities Ltd., a United Kingdom-based securities firm specializing in the resource sector, as lead agent in connection with a private placement of 5.5 million units at a price of $1.50 per unit for total gross proceeds of $8.25-million. The company previously filed a price reservation form concerning the private placement with the TSX Venture Exchange. Ocean has advised the company that it currently anticipates that the financing will be fully placed.
Each unit consists of one common share of the company and one warrant entitling the holder to acquire one additional common share for a period of two years at the exercise price of $2.25.
The company will pay to Ocean Equities on closing a cash commission of 5 per cent of the gross proceeds of the offering. In addition, the company will to issue to Ocean Equities warrants equal to 5 per cent of the number of units sold having the same terms as the warrants included in the units. The financing will be closed promptly upon receipt of all necessary regulatory approvals.
The proceeds of the financing will be used to finance continuing exploration programs on the company's Argentine properties and for general working capital.
Said Scott Emerson, chairman of the board: "We are extremely pleased with the highly favourable response to this financing, which represents a strong vote of confidence in the company from the investment community. This raise will give us the necessary resources to advance our plans for the growth and development of the company. At La Fortuna, we have a property of significant merit and we will be continuing with an aggressive and extensive exploration program."
Marifil Mines starts phase III drilling at Toruel
2006-03-01 09:06 ET - News Release
Mr. John Hite reports
MARIFIL LAUNCHES PHASE III DRILLING AT TORUEL
Marifil Mines Ltd. is initiating a third round of drilling at its wholly owned Toruel epithermal silver-gold-copper project in Rio Negro province, Argentina. Phase III comprises 1,500 to 2,000 metres of reverse circulation (RC) and diamond drilling (DDH).
The purposes of this phase will include testing of the western extension of high-grade silver-copper mineralization in the main Toruel vein; closer spaced drilling of known mineralization to allow calculation of a defined resource; and testing of the Mancha Blanca and White Goat veins.
The White Goat vein is a virgin drill target. Rock chip and soil sampling on this vein have shown it to be geochemically anomalous in gold, silver and other elements, and an induced polarization survey defined strong anomalies. Silicified and brecciated outcrops on White Goat range up to 30 metres wide.
Drilling is expected to commence later this week and be completed by mid-March. The first string of phase III assay results is expected before the end of March.
All assaying is being done by Alex Stewart & Co. in Mendoza, Argentina. Elements other than silver and gold will be analyzed by ICP at the same laboratory.
This press release has been reviewed and approved by John Hite, president of Marifil Mines, and by Richard Walters, vice-president, under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are qualified persons as defined by National Instrument 43-101.
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