Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yale Encounters Porphyry Deposits in Mexico
As Yale Encounters Porphyry Deposits in Mexico, a Grand Mystery Unfolds as to its True Nature
By John Hurst
ResourcexInvestor.com
September 26, 2007
A grassroots company no longer, porphyry deposits have encouraged Yale Resources Ltd. (TSX.V:YLL) to expand its La Verde land package in Mexico by 400 hectares. Often a holy grail for explorers, porphyry deposits – all the way from Alaska to Chile – make for great exploration targets. They are typically low grade, promise immense tonnages and create your “As Seen on Google Earth”, open-pit mines.
Yale Resources’ La Verde project, a copper-zinc-silver-gold property located 45 km northwest of Hermosillo, Sonora State, Mexico, has at least six deposits, with workings on them dating back to the early 1900’s.
“We now have known mineralization of potentially economic grades. It’s not a grassroots exploration play. These are deposits and we are going to determine how large they are as quickly as we can,” stated Ian Foreman, the Vancouver company’s geologist-president.
La Verde Grande (The Big Green) is the project’s main deposit. Yale’s first program was done there. Land acquisitions adjoining its northeast corner cover the La Sierrita copper-zinc-molybdenum porphyry that was drilled in early 2000’s by Freeport McMoRan. In its amalgamation with Phelps Dodge, that behemoth chose to leave Mexico and the project was dropped. Another Canadian junior had the project in the 1990s, and dropped it too.
“In each case, the company would drop the property for larger economic reasons, not geological reasons,” Foreman said. “Either the metal prices were too low or the Canadian exchange rate was too high or the world markets were weak…but nobody came to a conclusion with regards to the geological potential of the project, and that was really key for us.
“Freeport-McMoRan drilled eight holes, of which seven are on land that Yale controls. Five of those holes intersected a porphyry. Each of those holes has long intervals of anomalous copper, zinc and molybdenum mineralization. We know that over this four-square-kilometer area, that’s a huge exploration target, and we’ve added a large additional target to the property,” Foreman said.
“So we know that there is a large mineralizing system present. The association between the La Sierrita porphyry and the skarn deposits we are concentrating on at the present, is currently unknown. Is it the source for all the mineralization that has bled into the limestones and created the skarns, or maybe that is indicative of additional porphyry present and maybe the additional porphyry is what is feeding these skarn systems and therefore is a genuine porphyry target on its own.”
The La Verde Grande mine has three principal levels – two of which are about 100 metres in length – and recent field work has identified two additional levels vertically higher, which indicate that there is the potential for additional resources to be defined both up and down dip. The northeast extension of the mine, located 30 metres to the north, has additional workings that continue for another 30 metres along strike. The northeast extension has a second level of workings, located 23 metres below, which have visual mineralization. These were not sampled in previous exploration campaigns but have been sampled by Yale personnel. A three-week rehabilitation program was required before sampling could begin.
A total of 175 samples have been taken and all samples have been submitted to ALS Chemex labs in Hermosillo. Samples were taken every five metres as vertical chip channel samples along the walls of the workings. This sampling program also included initial samples from the historic workings that are all within a radius of 150 metres of the La Verde Grande Mine. In each working, skarn mineralization with visible copper mineralization was encountered.
There has been only very limited drilling done at La Verde. Yale’s exploration strategy for the La Verde Project is that it wants to explore all the targets in the concept that there is a larger mineralizing system present. The technical team and sampling crews will now be moving to the El Picacho prospect, located 900 metres along strike from the La Verde Grande Mine, where work in the early 1900's exposed a breccia with strong copper oxide staining over a 15 metre width.
Trails leading up to the La Tescalama prospect, some 250 metres up the hillside, are being cleared so that the crews will have access. The La Tescalama prospect saw significant historical development as the principal working extends in at least 40 metres and exposed strongly copper mineralized skarn throughout.
“It’s our impression that all previous exploration has tackled these small, high-grade deposits individually,” he stated.
“How are they connected? Are they connected, and if so, what is the key that ties them together? Right now, we are trying to get a feeling for how much mineralization there is. In the La Verde Grande area, there is a mine with three levels of workings; there is an extension off to the northeast with two levels of workings that show the strike length is a deposit in the neighborhood of 150 metres. To us, that already is twice as long as what we understood the deposit to be when we first optioned the property. Now, in just simple exploration, we’ve identified six other small pits or workings that the old-timers had found mineralization, back in the day when they found just something interesting.
“That, to us, indicates that there is genuine exploration potential not just in the 150-metre radius surrounding the mine, but in the surrounding land.”
Much of the site is covered by calcrete, a calcium alteration product up to several metres in thickness and more difficult to explore. All will have to be reckoned with before Yale decides where to drill.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
The author and ResourcexInvestor.com are not shareholders in the companies herein mentioned, and the author, as an employee of Resourcex Publishing Corp is expressly prohibited for owning any securities about which they may write for a period of 30 days prior to and 30 days after initial publication of the article in which the securities of any company are mentioned.
ValGold’s Mochila Mojo
By Christina de Wit
There’s an old Venezuelan proverb that says “Join with good men and you will be one of them.” ValGold Resources’ (TSX.V:VAL) management team appears to have taken this piece of wisdom to heart as the company embarks on an ambitious drill program at the Chicanan West Complex located approximately 50km northwest of the Kilometre 88 gold camp in Bolivar State, Venezuela.
This latest phase of development represents an expansion of the company’s presence in Venezuela. ValGold has completed the first stage of drilling of its program at the Los Patos gold occurrence within the Lo Increible 3 Concession, also located in Bolivar State, Venezuela. Lo Increible 3 is 20km northeast of the town of El Callao and 4.5km northeast of Crystallex’s La Tomi gold mine. ValGold’s other projects include properties in Guyana and northwestern Ontario.
The Chicanan West Complex consists of 11 mining concessions comprising a sizeable land holding of 522 km2. This area is located within the Guiana Shield, which hosts a greenstone belt that is known to be highly prospective for gold. The Complex is characterized by an island-arc sequence with intermittent periods of volcanism and sedimentation with ancillary quartz-porphyry dikes – an environment considered by many geoscientists to be favorable for mineral discoveries.
The program’s primary target is the Mochila (Spanish for ‘knapsack’) gold occurrence, represented by Proterozoic-age mafic to intermediate intrusive to metavolcanic rocks in an area covering about 10km2. Gold occurs as enrichments along the contacts of specific layers or units with the Mochila Layered Complex and along a north-trending lineament. Proterozoic-age rocks are the major source of mineralization in the world. Well-known examples of major, defined deposits with very similar geology in the area include Crystallex’s Las Cristinas and Gold Reserve’s Brisas discoveries.
Several gold occurrences (as well as base and precious metal occurrences), have been identified on the property, with two types of gold mineralization. The first, hosted by the Mochila Layered Complex, is found along a regional fault. This is an example of axial plane foliation, in which hot waters carrying metal ions are forced into cracks created by folding and faulting. The second type of gold mineralization is found within the sericitized Chicanan Shear Zone.
The major area of interest is the upper contact of the middle gabbro unit of the layered complex. According to the company’s 43-101 report (p.60), the “Mochila Lineament contains numerous artisanal workings covering a surface area of more than 14km by 3km. Within this area, several world-class deposits could be developed. Three target areas have been identified in a selected area of the lineament and are ready for drill testing.” A minimum of 5000m of coring in 15-20 holes is planned at this stage.
Venezuela has had a long history of successful gold exploration. Presently, several companies have operating mines in the Venezuela’s Guiana shield: Crystallex, Hecla, Gold Fields (JSE:GFI), Gold Reserve (GRZ), and Rusoro (RML). Chicanan West is located in the same belt as two major deposits: Las Cristinas (Crystallex), and the Brisas (Gold Reserve), which reportedly host a combined estimated gold resource of 31 million ounces. These success stories plus the current run on gold underscore the potential for well-placed junior explorers to achieve a comparable level of growth.
There are several advantages to investing in Venezuela. It should be emphasized that there has never been an expropriation in the country’s history. Labour costs are low, and diesel is only 15¢ a litre. The government also does not demand a royalty on production, instead preferring a streamlined corporate taxation structure.
Despite negative American press coverage of Hugo Chavez’s governance, explorers and operators in Venezuela have largely enjoyed a progressive work environment. The Chavez administration has not deterred serious investors and players from working and profiting in Venezuela. According to Jeff Stuart, ValGold’s head of Investor Relations, the current government has made considerable efforts to create a hospitable mining investment climate. “The government [has] actually been really, really good to us,” he said. Bureaucratic red tape is not an issue, as “we got permits in six days”. They have provided the company with government assistance and who have facilitated its work program, and have helped ValGold to avoid conflicts with artisanal Brazilian miners working in the area.
The company’s management has a lifetime history of dealing with properties of merit. Its chairman, Andrew Milligan, is a former president of Glamis Gold Ltd., Tom Pollock, the company’s vice president of exploration, was the China Country Manager for BHP during his 20-year career with them, and ValGold’s president, Stephen Wilkinson, is past president of Northern Orion (currently trading around $6.50 per share). Pedro “Peter” Tinoco, one of the company’s directors, was the president of the Venezuelan Chamber of Mines for two consecutive terms, as well as the president of the Latin American Mining Organization from 1996-2006. Since 1989, he has been the vice president of the mining division of the Venezuela-based Cisneros Group of Companies, one of the largest privately held media, entertainment, telecommunications and consumer products conglomerates in the world. Through Mr. Tinoco, ValGold has strong ties to some of the most influential people in South American mining – a few good men and women indeed.
ValGold is uniquely well-placed for success in Venezuela, as several key factors make it a wise buy-and-hold investment in this rising gold market: Seasoned management with a stellar Latin American track record, projects at drilling stage, large holdings close to major producers in a still-underexplored region, a solid relationship with a mining-friendly government, and a roaring gold market. This is particularly auspicious timing for investors, as drill results from La Mochila are expected to roll in over the next 8 to 10 weeks.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
PMI Gold Adds Nearly 1Million Ounces to Portfolio
PMI Gold Adds Nearly 1 Million Ounces In Ground to Portfolio
By Doug Hadfield
Junior exploration company PMI Gold Corp. (TSXV: PMV) has added a fourth past producing mine to its portfolio in Ghana’s famous Ashanti Gold Belt. The new concession is located just twenty kilometers away from Anglogold Ashanti’s 55 million ounce Obuasi mine and is within southwest Ghana’s Golden Triangle, which has combined current reserves and historical gold production of over 170 million ounces.
Kubi has seen extensive work to date. Project exploration and development costs total more than US$20 million. In the 1920s, artisans completed numerous adits and provided a foundation for later work by BHP, which included a program of ground geophysics and drilling. BHP later optioned the property to NS Ghana, who completed extensive exploration throughout the 1990s.
The geological picture of mineralization at Kubi is described as a one to 15 metre thick blanket of gold mineralization over a span of 1,800 metres long by up to700 metres deep. The mineralized block is contained within a northeast trending shear zone straddling a major contact between the Birimian and Tarkwaiian. According to a report by The Resource Investor, more than 100 million ounces of gold have been identified within the Birimian Gold Belt. The presence of Tarkwaiian rocks is also closely linked to many large gold deposits found in Ghana.
According to a September 2007 NI43-101 technical report for the Kubi property, “The “Ashanti Trend” is a structural feature that hosts many of the gold deposits in the Obuasi area is interpreted to run through the western part of the Kubi property. Exploration in this area has not been exhaustive and additional potential for Ashanti style deposits is possible.”
Between 1996 and 2006, Ashanti mined 58,696 ounces of gold from two open pits on the property. The total ore milled was 500,230 tonnes grading 3.65 g/t. The recovered grade was 28 per cent higher than expected per Ashanti's mine modeling. Seven mineralized zones have been defined on the property, within three major generative corridors, with 85% of the reserve base currently within a zone known as the Main Garnet Zone.
Significantly, the technical report notes that a “Garnet Zone equivalent has been intersected with associated grade in boreholes drilled at (the nearby) Kubi South.” Any future drill program will make this mineralized zone a primary target. The Kubi Main Zone has been traced for two kilometers along a consistent strike and is open at a depth of 700 metres.
The details of the transaction stipulate that PMI will acquire all the shares of Nevsun Resources (Ghana) – a subsidiary of Nevsun Resources (TSX: NSU) – for nine-million shares in PMI, plus an additional $3-million in cash or stock payments. Nevsun’s holdings may not exceed 20% of the outstanding shares of PMI. Ghanaian tax and royalty considerations will be offset by project expenditures to date. At $0.28 per share of PMV.V, the total cost of the transaction to PMI is approximately US$5.5 million. Following the transaction, Nevsun will hold approximately 9% of PMI on a fully diluted basis.
Prior to announcing its acquisition of the Kubi concessions, PMI hired Golder Associates Africa to prepare a NI43-101 resource estimate on the property. Using data from NS Ghana’s work, which included 212 drill holes – and by subtracting the resource already mined by AngloGold Ashanti – Golder showed that the Kubi deposit has close to 920,000 ounces inferred and indicated.
PMI has noted that a portion of the Kubi mining lease is covered by a forest reserve. The company stated, “[We] will proceed with an underground operation “by shaft or decline from the non-forest reserve area and trucking the material off site for processing, and therefore will not be overly impacted by forest reserve issues.” The main Kubi mining lease covers 19.2 square kilometres and has a renewable 10-year term valid to April 29, 2009.
The qualified person on the project, David Farrow, stated that the Kubi Main trend “contains significant resources drilled to a depth of 700 meters vertical.”
The region in which Obuasi and the Kubi mines are located is rich in gold and historical gold mines. The Obuasi gold mine has been in continuous production for 110 years. Ghana is famous for its Ashanti Gold Belt, which is part of a volcano sedimentary belt and presently includes seven producing mines. In fact, Ghana is Africa’s second largest gold producer, mining about 80t of the yellow metal per year. Ghana is already producing over two million ounces of gold per annum This is an area of majors, too, with companies like Anglogold Ashanti, BHP, Newmont and others operating large both large scale exploration and mining activities in the region.
Over the past few years, PMI Gold has acquired three other former gold producing mines in Ghana: Nkran, Abore and Adubiaso. All were previously operated as the Obotan Gold Mine by Resolute Amansie Limited, a subsidiary of Resolute Mining of Australia.
According to PMI documents, between 1997 and 2002, “the Nkran pit at Obotan produced an average of 146,000 ounces of gold per year for a total of 590,000 ounces of gold at an average grade of 2.2 g/t. The Abore and Adubiaso pits located 12.5 km and 4.0 km northwest respectively of Nkran, together produced a further 140,000 ounces at similar grades.”
The mine was mothballed in 2002 after Resolute struggled for five consecutive years of low gold prices, averaging approximately US$300 per ounce. The price of gold on September 24th remained over $730 per ounce. Many gold bulls continue to argue that gold is undervalued and that demand for bullion (and therefore it’s price tag) will increase with the declining US dollar and diminishing production.
In 1997, a bankable feasibility study (BFS) reported 38 million tonnes grading 1.96 g/t for 2.823 million ounces at for the Obotan Gold Mine. In total, Resolute mined over 730,000 ounces of gold before closing the mine. PMI Gold believes there is an exploration target below the Nkran pit of one to two million ounces of gold grading from 3 to 6 g/t Au.
PMI Gold (TSXV: PMV) has 77 million shares outstanding including the 9 million for the Kubi acquisition (105 million fully diluted). Its 12-month high-low is $0.47 – $0.14. On September 24, 2007 the company opened at $0.27 per share.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
X-Cal Resources Ltd.:
Ken Snyder Buys 1% Production Royalty Sleeper Gold Project, Nevada
Mon May 7, 8:00 AM
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) - X-CAL RESOURCES LTD. (TSX: XCL.TO) and KEN SNYDER have entered into a letter purchase agreement for the sale of a 1% Net Smelter Production Royalty (NSR) on the Sleeper Gold Property to Dr. Snyder's Gold Syndicate for US $1,500,000.
Ken Snyder has placed an initial payment in trust pending completion of title checks and formal documentation. Closing is expected to take place by June 16, 2007, subject to completion of the above and regulatory approval.
X-Cal has reported good progress with both exploration and development drilling at the Sleeper Gold Project, located in Humboldt County, Nevada.
One of the goals of Sleeper drilling is to develop sufficient density of drill data to place some of the gold and silver mineralization, currently described as exploration targets, into the CIM "Indicated" category by calendar year-end, for publication within NI-43-101 requirements.
Dr. Snyder was instrumental in the making of the "Ken Snyder Midas Mine" in Nevada.
The contents of this release have been reviewed by Robert Thomason, M.Sc., who is a "Qualified Person" as defined by NI-43-101.
Shawn Kennedy, President
Caution Concerning Forward-Looking Statements
This release and related documents may contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of drilling results and potential mineralization, future exploration work at the Sleeper Gold Project, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area Project and the expected results of this work. Forward-looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Sleeper Gold Project, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area Project; uncertainties involved in the interpretation of drilling results and other tests; the possibility that required permits may not be obtained in a timely manner or at all; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the exploration operations at the Sleeper Gold Project, the Mill Creek Gold Project, the Reese River Project and the Spring Valley Area Project.
Forward-looking statements contained in this release and related documents are based on the beliefs, estimates and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. X-Cal Resources Ltd. and X-Cal USA, Inc. undertake no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change
Brigadier Gold (TSX-V: BRG) Announces Positive Drill Results From Larder Lake Property
Tuesday April 24, 9:00 am ET
Assays grade up to 5.31 g/t gold over 2.35 metres, follow-up program planned
TORONTO, ONTARIO--(CCNMatthews - April 24, 2007) - Brigadier Gold Limited ("Brigadier" or the "Company") (TSX VENTURE:BRG - News) today reported that drilling at its Larder Lake Project near Larder Lake, Ont. has intersected significant gold grades, including 5.31 g/t gold over 2.35 metres and 2.79 g/t gold over 8.3 metres, including 5.11 g/t over 1.5 metres. With these positive results, the Company is planning a more in-depth work program to begin in the second quarter, including additional surface work and further drilling.
"We're very encouraged by the positive results from this first phase of drilling," said Herb Kokotow, President and CEO. "These results, combined with historical drilling that returned significant gold grades over substantial widths and the proximity to our M-Island property where drilling has returned up to 6.17 g/t gold over 2.9 metres, including 18.9 g/t gold over 0.8 metres in similar rock types, provide us with the confidence to commit to a substantial exploration program this spring and summer."
Brigadier initiated the six-hole diamond drilling program comprising 865 metres of drilling earlier this year as a follow up to a geophysical (induced polarization) survey done in late 2006. Holes B07-01 and B07-02 tested strong IP anomalies which were found to be caused by graphitic sediments and only low gold values were returned. Hole B07-03 tested another strong IP anomaly on the edge of Larder Lake which was apparently caused by sulphide mineralization. This hole cut 0.61 g/t gold over 4.1 metres, between 31.5 m and 35.6 metres depth, which includes a 0.5 metre section running 1.48 g/t gold.
The remaining three holes, B07-04, B07-05 and B07-06, were drilled into an area where drilling by previous operators had cut 1.31 grams/tonne over a length of 30.18 metres. Hole B07-04 intersected 5.31 g/t gold over a 2.35 metre length from 31.35 metres to 33.7 metres, and hole B07-05 cut 2.79 g/t gold over 8.3 metres from 82.5 metres to 90.8 metres, including 5.11 g/t over 1.5 metres. Hole B07-06 was drilled further south and did not intersect gold values; it is believed that a mafic intrusive body cuts off mineralization to the southeast.
All of the significant gold intersections in the area are associated with highly feldspathic (syenite, feldspar porphyry) rock units similar to the rocks exposed on the company's M-Island showing which lies northeast in Larder lake. M-Island has exposed visible gold in a buff feldspathic rock. As noted above, drilling at M-Island has intersected significant gold values, as has trenching which returned up to 4.16 g/t gold over 3.7 metres, including 8.98 g/t gold over 1.2 metres. Further work is planned for the mineralized area and may include stripping, geochemical surveying and drilling. The 2007 drill area is located approximately 1,800 metres south of the original McCrea gold showing, where the highest historical gold value reported from trenching was 8.43 g/t. The McCrea gold showing has never been drill tested and lies about 800 metres southwest of M-Island.
All analyses were conducted by Laboratoire Expert Inc. in Rouyn-Noranda, Quebec; all intervals are core lengths. The program was supervised by Larry Hobbs, P.Eng., a qualified person under National Instrument 43-101.
About Brigadier Gold
Brigadier Gold Limited is a junior exploration company focused on gold in Canada's historical mining camps. The Company's key assets are an option to earn up to an 80% interest in the Hunter Mine, a former gold producer in the Porcupine Mining Camp near Timmins, Ont. from which more than 60 million ounces of gold has been produced from a number of deposits including the Dome, Hollinger, Pamour and Hoyle Pond mines; and the Kirkland Lake-Larder Lake and Matachewan areas where over 37 million ounces of gold have been produced from 25 mines. Brigadier has 27,058,468 common shares outstanding and trades on the TSX-V under the symbol BRG.
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Brigadier, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Brigadier's expectations are disclosed under the heading "Risk Factors" and elsewhere in Brigadier's documents filed from time-to-time with regulatory authorities.
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Herb Kokotow
Brigadier Gold Limited
President & CEO
(416) 410-7956
(905) 707-1520 (FAX)
Website: www.brigadiergold.com
Source: Brigadier Gold Limited
http://biz.yahoo.com/ccn/070424/200704240386018001.html?.v=1
Network Exploration to acquire 1,200 ha by Caldera
Network Exploration Ltd (C:NET)
Shares Issued 11,209,909
Last Close NET.H 11/22/2006 $0.155
Thursday November 23 2006 - News Release
Mr. Alexander Helmel reports
NETWORK EXPANDS LAND POSITION AT CALDERA
Further to its news in Stockwatch on Nov. 9, 2006, that only 1,522
hectares
in mineral claims are included under the terms of the Caldera property
agreement, and as advised by the company's senior geologist Marco
Fernandez-Concha, Network Exploration Ltd. is in the process of
acquiring an
additional 1,200 hectares of adjacent mineral concessions to bring the
total
area included under the Caldera property agreement to approximately
2,700
hectares. In 1994-1995, Noranda Exploration optioned the Caldera
property
from its current owners and performed a series of exploration programs
on
the property. The data reviewed by the company include IP surveys which
cover area within and adjacent to the property boundaries. After
detailed
geological review by the company's senior geologist Mr.
Fernandez-Concha --
a former geologist with Noranda Inc. and with Teck Peru -- the Company
feels
that the geological characteristics of the adjacent property are an
important part of the Caldera property package and accordingly, has
made
arrangements to acquire these concessions. Upon completion, the
additional
concessions will be included as part of the mineral concessions
outlined in
the Caldera property option agreement.
C 2006 Canjex Publishing Ltd.
CLV.P , LMA.T, GU.V, and CTG.V
CLV.P (www.tsx.ca) === Holding up well with volume of 95,000 === Last @ .32
LMA.T === Offer on the stock is 1.50 === Looks ready to go higher
GU.V === Volume of 95,000 === Same area as UUL.V
CTG.V === Small volume === Calm before the storm?
Buy GU my man............
Take a good look @ CLV.P on the TSXv ........same group that did ARU is getting behind this one
CLV.P is looking good here...sam e team that put together the shell for ARU
Wanted...
research notes and investigative leads into Uranium Land holding companies and Lithium deposits that have fesability studies completed or near completion and will be in production within 12 months..
the land holdings must be in North America or Greenland only.
Lets see who knows what, I will do the background research but need the leads
Orex Exploration receives Goldboro composite results
2006-01-06 08:57 ET - News Release
Mr. Jacques Levesque reports
OREX RECEIVES METALLURGICAL TEST RESULTS CONFIRMING HIGHER GRADES OF LARGER GOLD ZONES AT GOLDBORO
Orex Exploration Inc. has received results from 32 of 36 composite samples processed by total extraction metallurgical testing at the SGS-Lakefield laboratory facilities in Lakefield, Ont. Results from the remaining four samples will be available later in the first quarter of 2006. The following summary table outlines metallurgical results received to date:
No. of Sample
comp- weight
osite of Volu-
samples/ compo- metric
No. site weight-
Minera- of indi- samples ing
lized vidual (kilo- (cubic
zone samples gram) metre)
Boston-
Richar-
dson 2/26 140.6 N/A*
South
Limb complete
NB1-2-3 13/240
South
Limb complete 1,207.6 161,00
Hinge
NB1-2-3 3 of 4/ 188.1 20,000
South
Limb 37 of 45 (46.2 kg
exten- pending)
sion
NB4 4/57 289.2 N/A
South
limb complete
NB5-6 7 of 8/ 462.2 N/A
South
limb 83 of 91 (46.2 kg
pending)
NB7-8 2 of 4/ 155.7 N/A
South
limb complete
NB9-10 1/9 56.0 N/A
South
limb complete
32/36 2,501.0 N/A
compo- kg/
sites/ 203 kg
478 of pending
518
samples
Sample
weighted
No. of Sample fire
comp- weight assay
osite of grade/
samples/ compo- volu-
No. site metric
Minera- of indi- samples weighted
lized vidual (kilo- grade
zone samples gram) (g/t Au)
Boston-
Richar-
dson 2/26 140.6 2.63/NA
South
Limb complete
NB1-2-3 13/240
South
Limb complete 1,207.6 4.23/
Hinge 5.77
NB1-2-3 3 of 4/ 188.1 1.08/
South
Limb 37 of 45 (46.2 kg 1.03
exten- pending)
sion
NB4 4/57 289.2 0.82/NA
South
limb complete
NB5-6 7 of 8/ 462.2 1.39/NA
South
limb 83 of 91 (46.2 kg
pending)
NB7-8 2 of 4/ 155.7 19.13/NA
South
limb complete
NB9-10 1/9 56.0 0.93/NA
South
limb complete
32/36 2,501.0 3.82**
compo- kg/ g/t Au
sites/ 203 kg
478 of pending
518
samples
Sample
weighted
fire
assay
No. of Sample grade/
comp- weight volu-
osite of metric
samples/ compo- weighted
No. site grade
Minera- of indi- samples (cut
lized vidual (kilo- at 30
zone samples gram) g/t Au)
Boston-
Richar-
dson 2/26 140.6 2.63/NA
South
Limb complete
NB1-2-3 13/240
South
Limb complete 1,207.6 1.62/
Hinge 1.78
NB1-2-3 3 of 4/ 188.1 1.08/
South
Limb 37 of 45 (46.2 kg 1.03
exten- pending)
sion
NB4 4/57 289.2 0.82/NA
South
limb complete
NB5-6 7 of 8/ 462.2 1.39/NA
South
limb 83 of 91 (46.2 kg
pending)
NB7-8 2 of 4/ 155.7 2.35/NA
South
limb complete
NB9-10 1/9 56.0 0.93/NA
South
limb complete
32/36 2,501.0 1.53***
compo- kg/ g/t Au
sites/ 203 kg
478 of pending
518
samples
Sample
weighted
metal-
No. of Sample lurgical
comp- weight grade/
osite of volu-
samples/ compo- metric
No. site metal-
Minera- of indi- samples lurgical
lized vidual (kilo- grade
zone samples gram) (g/t Au)
Boston-
Richar-
dson 2/26 140.6 2.18/NA
South
Limb complete
NB1-2-3 13/240
South
Limb complete 1,207.6 2.93/
Hinge 3.74
NB1-2-3 3 of 4/ 188.1 0.84/
South
Limb 37 of 45 (46.2 kg 0.83
exten- pending)
sion
NB4 4/57 289.2 0.97/NA
South
limb complete
NB5-6 7 of 8/ 462.2 1.24/NA
South
limb 83 of 91 (46.2 kg
pending)
NB7-8 2 of 4/ 155.7 4.54/NA
South
limb complete
NB9-10 1/9 56.0 1.36/NA
South
limb complete
32/36 2,501.0 2.26****
compo- kg/ g/t Au
sites/ 203 kg
478 of pending
518
samples
* N/A -- not applicable
** average assay grade based on sample weighted fire assay grade only
*** average assay grade based on sample weighted fire assay grade only, cut at 30 grams per tonne (g/t) Au
**** average assay grade based on sample weighted metallurgical grade only
The most significant metallurgical test done at Goldboro consisted of 16 individual composites from the NB1-2-3 South Limb Hinge and Extension zones, representing a total weight of approximately 1.4 tonnes of composites from 2.5 tonnes of total composites processed at SGS-Lakefield. The volumetrics weighted average grade for the high-grade Hinge portion is 3.74 g/t Au and 0.83 g/t Au for the low-grade Extension portion, which gives a potential mill head average grade of 3.42 g/t Au for the modelled bulk mineralization proposed at Goldboro. It is important to note that this mill head average grade is consistent with two underground bulk samples extracted in April, 1990, from the NB1-2-3 sector tested in this phase 1 campaign. These bulk samples were previously reported by Martin Bourgoin, PGeol, in a National Instrument 43-101 technical report titled "Technical Report, Goldboro Property," dated Aug. 31, 2004.
Results from the metallurgical testing and refinement of the geological model demonstrate that any resource estimate for the Goldboro property will contain significantly higher gold grades than the historic estimate resource average grade of 0.7 g/t Au, as previously reported in Bourgoin's 43-101 technical report.
Other highlights from the metallurgical testwork results demonstrate that:
individual composites of lower grade generally contain less coarse gold in the metallurgical test gravity concentrates, and composite grades approximate well the individual sample conventional fire assay grades;
for the most significant test of the NB1-2-3 South Limb a total of 16 of 17 composites to date demonstrate a grade zoning from higher grades near the hinge of the folded mineralization and lower grades farther down-dip on the limbs; and
when the individual composite weights are used to generate a weighted average grade for the NB1-2-3 South Limb, the grade is 2.93 g/t Au in the higher grade hinge area. When the weighted average grade is based on volumetrics or sectional volumes represented by each composite, then the weighted average grade of the high-grade hinge is 3.74 g/t Au, which is likely to be the approach taken in estimating resource grades of the Goldboro mineralization.
The composite or "mini-bulk" samples were created from the compositing of drill core rejects of the phase 1 -- 2005 drill program covering a 250-metre strike length of known mineralization at the company's 100-per-cent-owned Goldboro property, in northeastern Nova Scotia. The composites were assembled from the complete mineralized intervals in individual drill holes and from combined drill holes in the same section, and across two or more sections. The two- to 6.5-kilogram individual coarse-crushed rejects (from each of the initial drill core samples) were assembled into these larger composites weighing up to 100 kilograms. The objective of the metallurgical testing is to provide a more precise determination of a mill recoverable gold grade at Goldboro.
The company has now instructed Gene Puritch, PEng, of P&E Mining Consultants Inc. from Brampton, Ont., to proceed with an NI 43-101 resource estimate for the 250-metre-long corridor covering the phase 1 -- 2005 drill program sector. This estimate will help guide Orex in the planned phase 2 and 3 exploration programs at Goldboro in 2006.
Corporate update
At its annual and special meeting held on Dec. 30, 2005, the company received approval from its shareholders to proceed with the company's $26.9-million (U.S.) financing and loan for the development of the Goldboro property. On Sept. 8, 2005, the company had announced that two private investors agreed to invest $26,944,066 (U.S.) in consideration of 67,360,165 common shares of the company at a price of 40 U.S. cents per share and to seek for an important loan for the future development of the Goldboro property. These transactions are conditional on obtaining approval of the TSX Venture Exchange and to all conditions it may require. The company expects receiving the financial terms of the loan in the forthcoming weeks with the objective of finalizing the private placement and loan to the satisfaction of the company's shareholders and regulatory authorities. Proceeds from the private placement will be used by the company for exploration leading to, and eventually including, a feasibility study on its 100-per-cent-owned Goldboro property in Nova Scotia, as well as working capital.
The press release has been prepared and revised under the supervision of Jean Lafleur, PGeol (OGQ), the company's principal consultant, and Alex Horvath, PEng, the company's quality assurance/quality control consultant. Both individuals are qualified persons under the National Instrument 43-101 standards.
MAD ..............sopunds like a symbol for my ex
LOL>>>>>>>>>>>>>>
stocks that look interesting are the Cortez plays..... BVG.v, MAD.v MTR.v etc......
Hopefully we will see some follow thru today:
http://www.stockscores.com/quickreport.asp?ticker=v.ox
well we'll see what he does with my pick.......if not i am pretty sure sur.v is going to win it this year.........
thanks Basserdan for bringing this to us tonight.....I submitted my pick for 2006......good luck to all who participated!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
That's funny.....I didn't see your handle on the list
Maybe 'pros' were not permitted to play. <vbg>
That's what you get for trying to ride my entry. LOL!
thanks Basserdan for bringing this to us tonight.....I submitted my pick for 2006......good luck to all who participated!
*** SI PM Stock Picking Contest ***
Hi J,
Since you're into Canadian mining stocks, you might be interested in this list of top PM and NR stock picks by the 'contributors' at Silicon Investor.
Most of the 89 contest nominees are Canadian listings and hopefully, will, at the very least, lead you and others to some excellent candidates for your portfolio/watch list.
Amongst other features, the nominees are linked to YAHOO news as well as their own websites.
Check it out..... and bookmark if deemed worthwhile.
http://www.goldsheetlinks.com/2006.htm
Fwiw, my pick to click is, once again, Sur American Gold (SUR.V), a Canadian based junior who finished 11th in the 2005 contest.
http://www.goldsheetlinks.com/2005.htm
CBP.v: uraniun deal near NUC's claim......getting some interest on a daily basis.....could be a breakout coming.....
adding some OX.v to my list of stocks to load up on........
SUR..........OX........CBP........LBE :)
its really quiet.....June/july will be the turning point months for the metals/mining stocks IMO.........good time to accumulate the juniors like SUR and JNI........
Handles, so quietly it can hardly be heard. It must be like that falling tree in the forest.:>)
"ALMI" ~ DD Page ...
http://www.investorshub.com/boards/board.asp?board_id=1812
SUR interesting
Area defined as mineralized according to previous news releases:
3500m x 2500m x 400m = 3.5 billion cubic meters of ore
(multiple by 2.4 to get metric tons)
= 8.4 Billion tons
Other than the high grade veins that have been assayed as high as 750 grams/ton gold, Rennie claims to be returning consistent grades as high as 3 grams/ton. (Discount it for the sake of argument to 1 gram/ton)
=8.4 Billion grams of gold.
(divide by 31 to get troy ozs)
271 million ozs gold
(multiple by a recovery factor of 95%)
257 million ozs of gold
(Sur’s share of Batoto is 70%)
180 million ozs of gold
Recent acquisitions of “proven” gold reserves has been over $100 US/oz in the ground. (x100)
$18 Billion US dollars
(multiple by 1.2 to get a Cdn dollar figure)
$21.6 Billion Canadian
At present Sur has just over 60 million shares outstanding. Again, for arguments sake, lets say that they have 100 million shares outstanding by the time these resources are classified as proven.(again hypothetical)
$21.6 Billion/ 100 million shares = $216 Canadian/ share (Potential we are chasing)
Hack the hell out of these calculations and say Rennie has only got 10% of what he claims….$21.60 Canadian/share
EDIT copyed this from another board
get ready for a SUR.V breakout.....huge run coming guys starting this week.....load the truck......
Eurasia Gold Corp. wishes to announce Record Gold Production to
date for 2004
Thursday December 16, 9:00 am ET
TORONTO, Dec. 16 /CNW/ - Eurasia Gold Corp. (TSX-V symbol: EGX - News).
Following on from the revised operational production plan for 2004,
which takes into account the extension of full scale mining
operations at Myaly and the subsequent increase in gold recovery at
Central Mukur, the Board is pleased to announce that it has exceeded
previous operational production and gold sales previously achieved by
the Company to date.
The current gold production to date of 27,072 ounces and gold
sales to date of 26,070 ounces has exceeded the previous year's
annual operational gold production and sales. Annualised gold
production and sales for 2003 were 25,332 ounces and 25,951 ounces
respectively.
Commenting on this achievement Mr Baltabek Mukashev, President and
CEO reconfirmed the Company's commitment to continue to increase gold
production cost effectively by investing in technology and improving
the efficiency of our mining operations.
The Company has successfully demonstrated the application of
technology and improving the efficiency of the mining operations with
a 24.5% improvement in gold recovery from the new crushing and
agglomeration complex at Central Mukur.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE
http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=13970
For further information
Baltabek Mukashev, President and CEO, +7 3272 581-081,
baltabek@andas-gold.kz
Ismail Nishanbayev, CFO, +7 3272 581-081, mnishanbayev@nursat.kz
Graham Bevan, Director, +44 7789 721952, graham.bevan@eurasiagold.com
Eurasia Gold Corp., (416) 504-2899, info@eurasiagold.com
Source: Eurasia Gold Corp.
http://biz.yahoo.com/cnw/041216/eurasia_gold_results_1.html
--------
http://www.ivarkreuger.com/gold.htm
--
-- Sur American Gold Corporation: Philippines Supreme Court Ruling Opens Door for --
Large Scale Foreign
Investment in Development of Major Mining Projects
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 2, 2004--SUR
AMERICAN GOLD CORPORATION (TSX VENTURE:SUR) is very pleased to advise
that the Supreme Court of the Philippines has announced a very
positive landmark decision that is likely to have a major impact on
the future of the Philippines mining industry and Sur American Gold
Corporation.
In a 246 page decision the court has overturned its January 2004
decision that nullified sections of the 1995 Mining Law including the
Financial and Technical Assistance Agreement (FTAA). The Supreme Court
decision is final and cannot be appealed.
The new high court ruling upholds the mining law that allows 100%
foreign ownership of major (greater than $US50million) Philippines
mining operations (the FTAA).
The Board of Sur American Gold Corporation is extremely encouraged
by this new development and believes that the decision is of great
potential importance to SUR, the mining industry in the Philippines
and importantly the national economy of the Country.
Mr. Rennie Blair, President of Sur American Gold Corporation
stated that:
"This favorable ruling will enable the National Government to
implement its Mining Revitalization Strategy for the mining industry
and as a result will strongly encourage foreign investment in not only
mineral exploration but large scale mine development."
"The Philippines is one of the most highly mineralized regions in
the world and hosts several world class gold and copper-gold deposits
and the potential to host many more.
The decision, furthermore is a strong indication that the
Philippines is very keen to attract foreign investment in the mining
industry which has been placed high on the agenda for future
development."
The President of the Philippines Ms. Arroyo welcomed the decision
and stated "The Philippines is poised for a strong economic takeoff
based on a revigorated mining industry."
Sur American Gold Corporation is currently exploring and
developing the large Comval gold and copper-gold projects and the
T'Boli gold-silver projects all of which have the potential to develop
into major mining operations.
Recent work at Comval in particular has outlined an area of 8sq km
of alteration containing gold bearing veins, veinlets and
microveinlets collectively called a stockwork gold system at the
Batoto Project.
The work complete to date has been very successful and based on
extensive surface and underground mapping and sampling as well as a
Bulk Metallurgical Testing Program which has indicated high (average
94%) and rapid recoveries and low reagent consumptions from the
mineralization already treated.
It has also outlined a huge system of gold mineralization
potentially amenable to processing by either/or simple CIP processing
or low cost heap leaching. Drilling is planned for early 2005.
Sur American Gold Corporation is a well financed exploration and
mining company which trades on the TSX Venture Exchange (Canada) with
trading symbol SUR-V.
On behalf of the board of directors
J. Rennie Blair, President
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.
--30--KO/na*
-- Sur American Gold Corporation: Corporate Update-Focus on Achieving Commercial --
Gold Production
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 29, 2004--Sur
American Gold Corporation (TSX VENTURE:SUR) is pleased to provide this
corporate update on its activities and strategy and in particular its
plans for project development at its Comval gold and copper-gold and
T'Boli gold-silver projects, Philippines.
KEY STATEMENT
"SUR'S principal goal is to develop its projects to commercial
production as soon as practicable and then to use the free cash
generated to advance its exploration and expand its operations whilst
enhancing shareholder value and minimizing share dilution."
Developing precious metal projects in developing countries such as
the Philippines requires a steady, systematic step by step approach.
The Company acknowledges that developing and maintaining excellent
relationships with all levels of government with the strong support of
the local community is the most important factor in the successful
transition from exploration to production.
In this regard the Company is very pleased to report that since
exploration commenced in June 2003 it has steadily built an operation
that, in addition to other community activities has provided
continuous opportunities for more than 150 people, donated to a wide
variety of community projects and supported the local Indigenous
Community in livelihood projects. Recently the Company has extended
support assistance to a local Indigenous teacher to teach local
Indigenous children.
SUR believes therefore that it is building a solid community
foundation to its planned project development. This important strategy
may neither be completely understood nor appreciated by some
investors. To progress its projects to mining operations without
unnecessary delays SUR believes that this strategy is, however
essential. While it may occasionally result in some programs
proceeding at a slower pace compared to other countries, the
objectives are nonetheless achieved.
COMVAL GOLD PROJECT, COMPOSTELA VALLEY
BULK METALLURGICAL TESTING
The Company during late 2003-early 2004 identified many high grade
gold bearing veins and wide areas of low-medium grade stockwork gold
mineralization (small veins, veinlets and microveinlets all occurring
together).
Accordingly a corporate decision was made in early 2004 to
undertake a Bulk Metallurgical Testing ("BMT") Program as an essential
part of its exploration and evaluation activities. The activity
involves mining along many of these larger veins in order to better
understand the nature of these gold structures and also to process the
bulk mineralization to ascertain the metallurgical characteristics of
as many of the veins and low-medium grade stockwork areas as possible.
Understanding the metallurgy is a key component of any good
feasibility study. Good metallurgy often makes the difference between
an economic and sub economic project.
As previously reported SUR has established that the Batoto gold
mineralization can be processed by standard CIP methods with likely
high (94%) average recoveries with low reagent consumption and high
recovery times. It is now in the process of determining whether the
mineralization can be processed by the low cost heap leaching method.
The goal for the Company in 2005 is to define a sufficient tonnage
of mineralization through drilling to enable the Company to commence a
full feasibility study to determine the appropriate mining and
processing strategy.
Assuming sufficient resources are defined it could reasonably be
expected that an initial operation would treat higher than average
grade mineralization for 1-3 years and this would be followed by
further expansions over a period of time treating lower grades until
the optimum processing rate and grade is reached. This approach is
consistent with the need to proceed with the participation of the
community and all other levels of government in the decision making
process.
GRADIENT ARRAY GEOPHYSICAL SURVEY
In addition to the Bulk Metallurgical Testing Program, SUR has
undertaken more than 120 line km of a gradient array IP geophysical
survey. The final reports arising from this survey are now being
evaluated by the Company-in particular the survey data on initial
drilling locations.
It is readily apparent from the work conducted to date that Batoto
is a huge porphyry-related gold system covering more than 8 sq km and
the decision about where to start drilling in order to define higher
than average gold grades is a major decision for the company.
Even though the Company is well financed ($2,500,000 in cash) it
does not have the large financial resources necessary to embark upon
large drilling programs to define the full extent of the Batoto gold
system at this time. Instead the initial drilling program to be
conducted in early 2005 will involve several thousand metres in and
around the Clark area of Batoto where extensive sampling and tunneling
has already outlined widespread gold mineralization grading between
1-3 g/t gold.
COMVAL COPPER-GOLD PROJECT
Early in 2004 SUR Company undertook an initial exploration program
at the Tagpura copper-gold project and was highly successful in
outlining the presence of high grade massive sulphide copper-gold
zones grading up to 2.8% copper and 1.4 g/t gold over a width of 60
metres and this program work also resulted in the discovery of wide
(up to 65 metres) zones of gold mineralization adjacent to the
copper-gold zones which are more than 1g/t gold.
T'BOLI GOLD-SILVER PROJECT
SUR, over the past 8 months has undertaken necessary
infrastructure projects including main access tunnel rehabilitation,
preparing the tunnel portal area for necessary electrical and office
installation and has recently purchased a small CIP plant for the
planned treatment of typical T'Boli mineralization.
Initial deliveries of mineralization to this plant is scheduled
for January 2005.
In addition the Company's exploration team has been conducting
tunnel mapping and sampling as well as trenching over many areas of
the deposit in order to confirm previous grades and to determine the
bulk mining potential in western areas of the deposit.
Sur American Gold Corporation trades on the TSX Venture Exchange
(Canada) with trading symbol SUR-V.
On behalf of the board of directors
J. Rennie Blair, President
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.
--30--SH/na*
CONTACT: Sur American Gold Corporation
J. Rennie Blair
President
(604) 601-8270
Fax: (604) 904-8957
Email suramerican@telus.net
OR
Renmark Financial Communications
Neil Murray-Lyon
(514) 939-3989
OR
Renmark Financial Communications
Franca Filippone
(514) 939-3989
News on SUR.V........yipppeeee
-- Sur American Gold Corporation: Further Significant Exploration Developments at --
Comval Gold Project
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 22, 2004--Sur
American Gold Corporation (TSX VENTURE:SUR) is very pleased to provide
an update on further significant exploration developments at its
Comval Gold Project, Philippines.
COMVAL GOLD PROJECT, COMPOSTELA VALLEY
- Exploration continues to expand the size of the Batoto project
with the discovery of a further 600 metre wide zone adjacent to the
1000 metre wide zone recently announced. The Batoto alteration system
is now believed to be more than 3500 metes in a SW-NE direction and
2500 metres in a NW-SE direction. This represents a mineralized
system of potential world class size. Initial sampling is in progress
and free gold has been panned from several areas.
- The Clark exploration crosscut at Batoto which the Company
believes may represent typical grade type distributions for Batoto
has now progressed 100.5 metres from the tunnel portal. The crosscut
continues to encounter a wide higher grade zone now 40.5 metres wide
and averaging 3.10 g/t gold. Overall the crosscut averages about 2
g/t gold with every 2-4 metre sampling interval well mineralized.
- The sampling results from the Clark Crosscut which is between
20-50 metres below the surface clearly support the strong possibility
of bulk open cut mining at Batoto with processing by simple CIP
and/or heap leaching methods. It should be stressed that the crosscut
represents a very small percentage of the overall size of the Batoto
system.
- Given the excellent metallurgy of the plus 100 tonnes of
mineralization already extracted and treated from this area, and
based on other case studies around the world including Round
Mountain, Nevada which leaches 0.55 g/t gold and Yanaccocha, Peru
which leaches 0.9g/t gold, the Company is of the firm opinion that
grades in excess of 0.5g/t gold are potentially economically
"interesting".
- At the Tarale zone high grades continue to be obtained from
most vein developments and in particular Tarale 11 a flat lying vein
which averages about 1.2 metres in true thickness. The most recent
sample returned 79.73 g/t gold over a true thickness of 1.5 metres.
In addition the immediate zone below the vein for a distance of 1
metre returned 28.77 g/t gold and the immediate area above the vein
returned 0.73 g/t over a similar interval. These results continue to
support the possibility of future bulk mining of the overall Tarale
zone.
- As previously reported and following the continued excellent
metallurgical characteristics as determined from the CIP trial
processing the Company is now proceeding rapidly to establish an
on-site trial heap leaching operation at the JB Mining and processing
facility. The Company believes that positive results from this trial
could result in future operations at Comval involving both CIP and
heap leaching operations.
- Results from the gradient array induced polarization
geophysical survey are expected at the end of November. The survey
results will be reviewed along with all of the exploration data
collected in 2004 and a final decision of when and where the initial
drilling program will commence will be made in early December.
Assays are undertaken at the JBMM laboratory at Monkayo,
Compostela Valley Province using the 30 gram fire assay method with
frequent check assaying undertaken at the IPL Laboratories in
Vancouver, Canada, an ISO certified laboratory. To date the Company
has established excellent comparison between assays undertaken
locally and those completed in Vancouver.
The Company is also very pleased to report that 71.7% of the
$0.35 warrants issued during a financing in November 2003 (or
$1,004,000) have been exercised. Total cash now available to the
Company in Canada and the Philippines is approx. $2,500,000. The
remaining warrants are exercisable at $0.50 per warrant until
November 19, 2005.
All sampling practices are approved by Mr Rennie Blair, Company
President who is the qualified person as required by National Policy
43-101 and who is the technical person responsible for this news
release.
Sur American Gold Corporation trades on the TSX Venture Exchange
(Canada) with trading symbol SUR-V.
On behalf of the board of directors
J. Rennie Blair, President
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release
Sur American Gold Corporation (TSX VENTURE:SUR)
--30--CB/na*
CONTACT: Sur American Gold Corporation
J. Rennie Blair
President
(604) 601-8270
Email: suramerican@telus.net
OR
Renmark Financial Communications
Neil Murray-Lyon or Franca Filippone
(514) 939-3989
Hi Antman and welcome..... BGO and ELD both doing secondary offerings this morning!
Love that crap!
LAM is looking like it has good support---
Antman, Get this crap outta here (g) Just kidding!
ARU.V has news out today- They have been going up in price lately-
Info on the company here-
http://ca.finance.yahoo.com/q?s=ARU.V&d=t
I am long=
Also long LAM.V,= for uranium-
-- Sur American Gold Corporation: Exploration Discovery-Major Extension of the --
Batoto Gold Deposit,
Comval Gold Project, Philippines
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 4, 2004--Sur
American Gold Corporation (TSX VENTURE:SUR) is pleased to provide an
update of its on-going exploration program its Comval Gold and
Copper-Gold project in the highly mineralized Eastern Mindanao Mineral
Belt, Philippines.
BATOTO EXTENSION DISCOVERED
The Company has significantly expanded the known SW limits of the
Batoto gold porphyry system by regional mapping, trenching, sampling
and geophysics. The system of alteration and mineralization now
appears to be continuous for at least 3000 metres in a NE-SW
direction and about 2500 metres in a NW-SE direction. In addition,
based on surface outcrop sampling and underground development the
Batoto system has been observed to continue in a vertical direction
for at least 400 metres. The system is still open to the south and
west and at depth.
The newly discovered extension of Batoto measures more than 500
metres by 300 metres and consists of intense alteration and silica
veining. Free gold has been panned from several areas. Detailed
sampling is now underway to ascertain the gold values at surface.
Thereafter deeper trenches cut by the Company's excavator may be
necessary to obtain assays from less oxidized rock. In addition, more
than 20 larger veins grading as high as 7g/t gold have also been
discovered in recent weeks in the Batoto extension by the Company's
prospecting team.
The Batoto mineralization is a low sulphide, high silica system
and consists of countless small quartz veins, veinlets and
microveinlets cut by at least 80 larger veins. Based on detailed
surface and underground mapping and sampling, a high percentage of
the system appears to contain economically interesting gold
mineralization.
All the gold mineralization is associated with the veins and
veinlets/microveinlets and has been shown to possess excellent
metallurgical characteristics with recoveries using the CIP
(carbon-in pulp) process of about 94% with low reagent consumptions.
Following the success of the on-going CIP bulk metallurgical
testing program at the Monkayo CIP plant SUR plans to embark on a
heap leach trial at the CIP plant which will be supervised by
personnel who are experienced in heap leaching in local conditions.
As previously advised, SUR is progressing with a long exploration
crosscut-the Clark Exploration Crosscut in the northern sector of
Batoto which to date has advanced more than 90 metres in a SSW-NNE
direction. The Company is pleased to report that gold mineralization
is strong over the entire 90 metre length averaging about 2g/t gold.
The face of the crosscut is currently in a higher grade zone which to
date has averaged nearly 4 g/t gold over the last 30 metres. The
crosscut is projected to continue for at least a further 100 metres
subject to ventilation requirements.
Given the excellent leachability characteristics of the
mineralization as demonstrated by the on-going bulk testing program,
the Company is now viewing the Batoto project as a potential large
bulk mineable project with two possible treatment routes:
1. Higher grade mineralization being finely crushed and treated
by conventional cyanidation followed by carbon and pulp or similar
methods and
2. Lower grade mineralization being crushed to 3/8" to 1/2" and
heap leached with recovery of the gold again by CIP or similar
methods. Given the high humidity and temperature leaching is expected
to be significantly quicker than operations in cooler climates.
Heap leaching methods have been widely and successfully used by
the gold mining industry for more than 25 years and provided they are
large scale and have good metallurgical characteristics, grades as
low as 0.25g/t gold can be economically mined and treated. For
example, the Yanacchocha mine in Peru produces about 3 million ozs of
gold annually from average grades of less than 1g/t gold and with
cash operating costs of less than $US100 per ounce whilst the Round
Mountain mine in Nevada leaches mineralization averaging just 0.37g/t
gold with higher grade ores (averaging 1.4 g/t) going to the CIP
plant. Total cash operating costs at Round Mountain are about $US
210/ounce.
Furthermore heap leaching requires significantly lower capital
expenditures than CIP operations.
The above operations serve to illustrate that given good leaching
characteristics and grades around 1/gt, large bulk mineable heap
leaching operations are particularly attractive targets. This is the
model that the Company is following for Batoto.
Batoto has a significant added advantage over other deposits in
that the gold mineralization is generally not covered by much waste
rock and also that excellent infrastructure in the form of roads,
water and skilled labour already exists.
Following the successful geological, mining and metallurgical
work completed to date the Company is now in the advanced stage of
planning an initial drilling program to define large scale low-medium
grade gold mineralization at Batoto. A drilling company with
extensive local experience has inspected the project and will be
submitting a tender for an initial core drilling program consisting
of about 2000-3000 metres.
As previously disclosed the Company plans to delineate a
500,000-1 million oz National Policy 43-101 compliant inferred
resource by an aggressive core drilling program during 2005.
All sampling practices are approved by Mr Rennie Blair, Company
President who is the qualified person as required by National Policy
43-101 and who is the technical person responsible for this news
release.
Sur American Gold Corporation trades on the TSX Venture Exchange
(Canada) with trading symbol SUR-V.
On behalf of the board of directors
J. Rennie Blair, President
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release
--30--LC/na*
CONTACT: Sur American Gold Corporation
J. Rennie Blair
President
(604) 904-8956
Email: suramerican@telus.net
Website: www.surgold.com
OR
Renmark Financial Communications
Neil Murray-Lyon or Franca Filippone
(514) 939-3989
KEYWORD: NEW YORK PHILIPPINES INTERNATIONAL CANADA ASIA PACIFIC
INDUSTRY KEYWORD: MINING/METALS
SOURCE: Sur American Gold Corporation
Copyright Business Wire 2004
It's becoming a TSX issue now and not a SUR issue from what I hear.....the TSE and NASD are on Berlin's tail for this......
Handles, Do you know of any further news regarding the delisting of SUR on the Berlin exchange?
Yes SUR, it surely is!
SUR.V: Looking great now on the chart and volume is coming back now that gold has broken the $410/oz range......sweet!
Handles, Did you get that fill on SUR. Are you the same Handles over on Stockhouse,if so, any more info on that berlin delisting of SUR?
Followers
|
9
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
58
|
Created
|
07/02/04
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |