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TSX..superior exchange..volume is superior on the Canadian side..Canadian company..Canadian board..this one~
Go to the ENZR message board, the exchange sells shares in the US, versus EGZ on the TSX. There if more information on that message board about this company.
Anyone interested in EGZ on TSX.V should be reading and posting over at ENZR on OTCBB since more active and current postings for he same company - Energizer Resources.
Energizer Completes Successful 2010 Drill Program on Green Giant Vanadium Project in Madagascar; Provides Metallurgy Update
Energizer Resources Inc. (formerly Uranium Star Corp.) (TSX VENTURE: EGZ)(OTCBB: ENZR)(FRANKFURT: YE5) ("Energizer" or "the Company") announces it has completed its 2010 resource definition drill program on its 100%-owned Green Giant Vanadium Project in Madagascar.
Utilizing two Boart Longyear diamond drills, a total of 46 diamond drill holes (DDH), totalling 8,952 metres were drilled during the 2010 program, bringing the total number of completed drill holes to 131, and metres drilled on the property to 21,957.
The focus of the 2010 exploration program was to expand the Company's current National Instrument 43-101 (NI 43-101) indicated resource of 21.74 million tonnes vanadium pentoxide (V2O5) and inferred resource of 4.15 million tonnes V2O5, as announced on May 11, 2010. Based on the XRF results obtained during the 2010 program, the Company expects to meet its target of delineating additional resources in the range of 25 to 30 million tonnes of V2O5.
Drill core samples have been sent to Genalysis Laboratory Services for assaying and the Company looks forward to reporting the drill assay results, which are expected to be available next month. Pierre Desautels, an independent qualified person of AGP Mining Consultants Inc. (AGP) (formally PEG Mining Consultants Inc.) will update the previous resource estimate for the Green Giant project once final assays are available. AGP is anticipating completion of this effort with release of an updated NI 43-101 technical report in September.
"We are pleased with the results of our drill program as it continues to confirm the existence of a long, continuous trend of high-grade vanadium. We have concluded our drilling for this year and look forward to reporting on the assay results and updating our NI 43-101 resource estimate, which we expect to be completed by Q3 2010," said Julie Lee Harrs, President and Chief Operating Officer.
Metallurgy Update
As previously announced, simultaneously with the definition drill program, the Company has been actively progressing the metallurgical scoping program with work currently ongoing at laboratories in South Africa (Mintek) and Canada (SGS Lakefield and NMR 360, Montreal). The initial metallurgical test work completed at SGS Lakefield in 2009 demonstrated the amenability of the Green Giant ore to acid leaching, with up to 78.2% extraction achieved under atmospheric leach conditions. Given these promising results, additional work was initiated in Q3 2009 and is continuing at Mintek, SGS Lakefield and NMR360 (Montreal). The goal of the metallurgical scoping program is to assess all technically viable process options for the unique Green Giant mineralization, including acid leaching, alkaline leaching, chloride leaching and roasting. On completion of this program, the lowest cost process option will be used to assist the definition of project economics in a NI 43-101 compliant preliminary economic assessment.
An update on the metallurgical program is expected to be available and incorporated into the next update of the NI 43-101 technical report.
Qualified Persons
Craig Scherba, P.Geol., V.P. of Exploration and Director of the Company, is the qualified person for the geological information provided in this release. Taiga Consultants Ltd. is continuing to conduct the Company's exploration activities on the Green Giant Vanadium Project and AGP Mining Consultants Inc. continues to provide engineering expertise for the project. Andy Holloway, P.Eng., Principal Process Engineer of AGP Mining Consultants Inc., is responsible for oversight of the metallurgical program currently underway.
For more information, please visit our website at www.energizerresources.com.
Cautionary Statement: The above resource estimates were calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Among other things, the terms "measured", "indicated" and "inferred" mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements of the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. This mineral resource estimate includes inferred resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that the inferred mineral resource will be converted to the measured and indicated mineral resource categories through further drilling, or into a mineral reserve once economic considerations are applied. U.S. investors should understand that "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of the Company's mineral resources constitute or will be converted into reserves.
Safe Harbour Statement: The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release issued by the Company. This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
Forward-looking statements include, receipt of regulatory approval, statements on the proposed use of proceeds; completion of financing on terms proposed; the ability to raise additional funds as required; the development potential and timetable of the Company's properties and minerals; the current and future price of minerals the Company explores; the estimated size of mineral deposits on the Company's properties; the realization of those mineral deposit estimates; the timing and amount of estimated future exploration, development and production; costs of future exploration, development and production activities; success of exploration activities; government regulatory matters; discussion of political and environmental risks.
Forward-looking statements are based on the opinions and estimates of management of the Company. Forward-looking statements are subject to known and unknown risks that may cause actual results to be materially different from stated opinions and estimates of management. Some of the Company's more material risks are: availability and timing of external financing; unexpected events and delays during exploration; receipt of government and stock exchange approvals; results of current exploration activities; future price of minerals; political risks in the locations of the Company's properties; appreciation/depreciation of foreign currencies relative to the United States Dollar (the Company's functional currency) and other risks inherent in the mining and exploration industry.
While Company's management has attempted to determine the factors that could cause actual results to differ materially from estimated results contained in forward-looking statements, there may be other factors that cause results not to be as anticipated. The Company provides no assurance that such forward-looking statements will prove accurate or not materially different than projected. Therefore readers of this and other press releases issued by the Company should not place unreasonable reliance on stated forward-looking statements.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Energizer Resources Inc.
Brent Nykoliation
Vice President - Business Development
Toll Free: 800.818.5442 or 416.364.4911
bnykoliation@energizerresources.com
Energizer Resources Inc.
Julie Lee Harrs
President and COO
Toll Free: 800.818.5442 or 416.364.4911
Once volume picks up a bit, i think there will be a stampede of buyers....
Energizer Resources Inc. Recommences Drilling on Green Giant Vanadium Project to Expand Resource
Symbol Price Change
EGZ.V 0.35 0.00
Chart for ENERGIZER RESOURCES INC
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Press Release Source: Energizer Resources Inc. On Tuesday May 18, 2010, 8:00 am
TORONTO, ONTARIO--(Marketwire - 05/18/10) - Energizer Resources Inc. (formerly Uranium Star Corp.) (TSX-V:EGZ - News)(OTC.BB:ENZR - News)(Frankfurt:YE5 - News) ("Energizer" or "the Company") announces that drilling has recommenced on its 100%-owned Green Giant Vanadium Project in Madagascar with the intention of expanding its initial resource estimate announced on May 11, 2010. This 7,000 metre, 35-hole drill program will employ two Boart Longyear diamond drills and will include a number of step-out drill holes along the main vanadium trend to verify additional mineralized zones previously confirmed through trenching.
The Company's previously released National Instrument 43-101 compliant resource estimate confirmed that a significant amount of vanadium has been discovered in two mineralized zones that account for a very small portion (1.35 kilometres) of the overall 21-kilometre trend of continuous vanadium mineralization.
Specifically, the two zones, the Manga and the Jaky, were reported to contain a total indicated resource of 21.74 million tonnes at an average grade of 0.759% V2O5 and an inferred resource of 4.15 million tonnes at an average grade of 0.655% V2O5.
Expansion of the Manga Zone to be the Focus of 2010 Drill Program
The Manga zone has a high-grade core with vanadium values assaying as high as 1.2% V2O5 and is open along strike to the south and at depth. In just 500 metres of strike-length drilled to date, the Manga zone accounts for 77% of the total resource estimate.
"We are encouraged by the fact that we have found a large amount of high-grade vanadium in a very small section of the overall vanadium trend, with almost 95% of the overall trend left still to quantify", said Julie Lee Harrs, President and COO. "This phase of drilling will expand the initial resource."
To date, 85 diamond drill holes and 151 trenches, totalling 29,691 metres have been completed on the property. This drill program is expected to finish by late July and upon completion, Energizer will have drilled a total of 120 holes on the Green Giant property. The Company expects to complete a NI 43-101 compliant preliminary economic assessment (scoping) study by the end of the year.
Energizer invites the public to visit its website at http://www.energizerresources.com or e-mail us at info@energizerresources.com to be added to the Company's e-mail list for press releases and updates.
Taiga Consultants Ltd. is continuing to conduct the Company's exploration activities on the Green Giant Vanadium Project and PEG Mining Consultants Inc. continues to provide engineering expertise for the project, including oversight of the metallurgical work currently underway at Mintek Laboratories in South Africa and SGS Laboratories in Canada, which will form the basis of a NI 43-101 compliant preliminary economic assessment for the project.
About Vanadium
Vanadium is well-established as a strategic metal that strengthens and hardens alloys like steel and is positioned to play a significant role in emerging battery technologies such as batteries for electric cars and for large-scale energy storage.
In 2007, the world-wide annual supply of vanadium was approximately 60,000 tonnes (or 107,000 equivalent tonnes of V2O5), with this coming largely from South Africa, China and Russia.
The demand for stronger rebar in construction, as well as the global infrastructure projects that have been announced, is expected to result in an increase in vanadium demand from the steel industry at a rate of 6% per annum. In addition, new demand channels for vanadium from manufacturers of energy storage systems is expected to result in additional demand for vanadium.
While there are some opportunities for substitution in steel production, the same is not true for other markets, including the emerging energy (battery) storage markets, the military and particularly in the aerospace industry, where vanadium is irreplaceable.
About Energizer Resources
Energizer Resources Inc. (formerly Uranium Star Corp.) is a mineral exploration company whose prime focus is the exploration and development of its 100%-owned Green Giant Vanadium Project in Madagascar. The Company's common shares are traded on the TSX Venture Exchange under the symbol EGZ, through the Over-The-Counter Bulletin Board under the symbol ENZR, and on the Frankfurt Exchange under the symbol YE5.
Safe Harbour Statement: The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release issued by the Company. This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
Cautionary Statement: The above resource estimates were calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Among other things, the terms "measured", "indicated" and "inferred" mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements of the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. This mineral resource estimate includes inferred resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that the inferred mineral resource will be converted to the measured and indicated mineral resource categories through further drilling, or into a mineral reserve once economic considerations are applied.
U.S. investors should understand that "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of the Company's mineral resources constitute or will be converted into reserves.
PR.....................................
Related Quotes
Symbol Price Change
EGZ.V 0.41 0.00
Chart for ENERGIZER RESOURCES INC
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Press Release Source: Energizer Resources Inc. On Tuesday May 11, 2010, 8:00 am
TORONTO, ONTARIO--(Marketwire - 05/11/10) - Energizer Resources Inc. (formerly Uranium Star Corp.) (TSX-V:EGZ - News)(OTC.BB:ENZR - News)(Frankfurt:YE5 - News) ("Energizer" or "the Company") is pleased to announce that a National Instrument 43-101 ("NI 43-101") compliant resource estimate (the "Report") for its 100%-owned Green Giant Vanadium Project in Madagascar has been completed. The Report estimates an indicated resource of 21.74 million tonnes at an average grade of 0.759% V2O5 containing 363.8 million pounds of V2O5, and an inferred resource of 4.15 million tonnes at an average grade of 0.655% V2O5 containing 59.8 million pounds of V2O5.
This mineral resource estimate utilized diamond drill hole data and was supplemented by trench data from the 2008 and 2009 exploration programs. The objective of the Company's upcoming 2010 resource definition drill program will be to expand the mineral resource.
A summary of the mineral resource estimate is presented below.
-----------------------------------------------------------
Classification Tonnage Grade
(at 0.5% V2O5 cut-off) (million tonnes) (%V2O5)
-----------------------------------------------------------
Indicated 21.74 0.759
-----------------------------------------------------------
Inferred 4.15 0.655
-----------------------------------------------------------
The mineral resource is contained in two separate zones on the Green Giant property, approximately 3 kilometres apart, which are referred to as the Jaky and Manga zones. The Manga zone itself accounts for an indicated resource of 16.3 million tonnes at 0.770% V2O5 containing 277.4 million pounds of V2O5 and an inferred resource of 3.5 million tonnes at a grade of 0.662% V2O5 containing 50.9 million pounds of V2O5.
The Report was completed by PEG Mining Consultants Inc. ("PEG"). For detailed information as to how the mineral resource was generated, please refer to the Report that will be filed on www.sedar.com under the Company's profile.
This first-time resource estimate was completed using industry standard methods that conform with the CIM Mineral Resource and Mineral Reserve definitions referred to in Nl 43-101, Standards of Disclosure for Mineral Projects, and utilizing GEMS© V.6.2.3.2TM software. This mineral resource estimate utilized approximately 9,900 metres of diamond drill hole data and was supplemented by approximately 3,600 metres of trench data from the 2008 and 2009 exploration programs.
Manga Zone to be the Focus of 2010 Drill Program
The Company will be focusing its upcoming May 2010 resource definition drill program on the Manga zone, which has a defined strike length of 500 metres. Because this zone has a high-grade core that is open along strike and at depth, the objective of the upcoming drill program will be to delineate additional resources in the Manga zone alone.
"We are pleased to have completed this initial mineral resource estimate which begins to quantify the size of our Green Giant deposit. With the completion of our 2010 drill program, we will be well on our way to advancing the Green Giant Project into a robust, economic project," said Julie Lee Harrs, President and COO. "We have high expectations of the resource being drilled in our 2010 exploration program, which will focus on the Manga zone, given that it is open along strike and at depth. We are also excited by PEG's belief that the near surface resource has excellent potential to expand which, we are told, is amenable to open pit mining".
Qualified Person
Pierre Desautels, P.Geo., of PEG Mining Consultants Inc., the Independent Qualified Person under National Instrument 43-101 responsible for the resource estimate, has reviewed this release. Mr. Desautels is the author of the Report (section 17), which will be filed within 45 days of this news release.
Taiga Consultants Ltd. is continuing to conduct the Company's exploration activities on the Green Giant Vanadium Project and PEG Mining Consultants Inc. continues to provide engineering expertise for the project, including oversight of the metallurgical work currently underway at Mintek Laboratories in South Africa and SGS Laboratories in Canada, which will form the basis of a NI 43-101 compliant preliminary economic assessment for the project.
About Vanadium
Vanadium is well-established as a strategic metal that strengthens and hardens alloys like steel and is positioned to play a significant role in emerging battery technologies such as batteries for electric cars and for large-scale energy storage.
In 2007, the world-wide annual supply of vanadium was approximately 60,000 tonnes (or 107,000 equivalent tonnes of V2O5), with this coming largely from South Africa, China and Russia.
The demand for stronger rebar in construction, as well as the global infrastructure projects that have been announced, is expected to result in an increase in vanadium demand from the steel industry at a rate of 6% per annum. In addition, new demand channels for vanadium from manufacturers of energy storage systems is expected to result in additional demand for Vanadium.
While there are some opportunities for substitution in steel production, the same is not true for other markets, including the emerging energy (battery) storage markets, the military and particularly in the aerospace industry, where vanadium is irreplaceable.
About Energizer Resources
Energizer Resources Inc. (formerly Uranium Star Corp.) is a mineral exploration company whose prime focus is the exploration and development of its 100%-owned Green Giant Vanadium Project in Madagascar. The Company's common shares are traded on the TSX Venture Exchange under the symbol EGZ, through the Over-The-Counter Bulletin Board under the symbol ENZR, and on the Frankfurt Exchange under the symbol YE5.
About PEG
PEG Mining Consultants Inc. is a group of experienced geologists and engineers specialized in underground & open pit mining, processing/metallurgy, and project management. The PEG team has a broad range of operations and consulting experience and skills. Further information can be found at PEG Mining's website at www.pegmining.com.
Administration
A total of 7,000,000 options were issued to directors, officers and consultants of the Company on May 10, 2010 under the terms of the incentive stock option plan of the Company filed with the TSX Venture Exchange and approved by shareholders at the last Annual General Meeting of Shareholders of the Company held on December 9, 2009. The options are exercisable at a price of $0.395 per share for a period of four years and are subject to a six-month hold period from the date of the issuance.
For more information, please visit our website at www.energizerresources.com.
Cautionary Statement: The above resource estimates were calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Among other things, the terms "measured", "indicated" and "inferred" mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements of the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. This mineral resource estimate includes inferred resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that the inferred mineral resource will be converted to the measured and indicated mineral resource categories through further drilling, or into a mineral reserve once economic considerations are applied.
U.S. investors should understand that "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of the Company's mineral resources constitute or will be converted into reserves.
Safe Harbour Statement: The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release issued by the Company. This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
Quick calculation based on todays PR.
At current V205 prices = aprox. 7.50 per lb
423.6 Million lbs of Vanadium
423.6 x 7.50 = 3.177 BILLION dollars worth.
As you saw from today's PR this number is just scratching the surface of the total amount at green giant. The Magna zone alone will hold aprox. 6x that amount.
Energizer Resources (formerly Uranium Star) basic information:
Homepage:
http://www.energizerresources.com/
Energizer Resources Receives TSX Venture Listing Approval
http://www.energizerresources.com/news/index.php?&content_id=94
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