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Hi NYBob nice to hear from you, GOLD is HOT!
Well great time for GRC to catch UP -
GRC very oversold and undervalued -
GRC about at 52 week low 1/3 of the high -
..GRC 52 week high was at a bargain price -
..GRC is to low priced but Cunnigham back at the helm
..what a bargain opportunity to get in on -
GRC holding one of the richest Canadian old gold producers -
Gold chart LT 2nd bull wave
and often most peaks in gold are
covered by a war ...
the wave pattern LT runs in five
the 2nd started
GOLD the 2nd AU bull wave
starting to pick UP speed
..in case of WW the gold producer -
need to be in strategic LT safest place
Canada
Got GRC great Au gold producers bargain
dd...
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
http://www.grcmines.com/
Golstone Resources (USOTC:GRSZF)
Last Price (USD) $0.5694
Change ? 0.0969 (20.51%
Bid -
Ask -
Volume 26,586
Days Range 0.5021 - 0.5892
Last Trade 9/14/2010 11:38:43 AM
Click for detailed quote page
Goldstone Resources Key Lake Results
Tuesday August 31, 9:38 am ET
TORONTO, ONTARIO--(Marketwire - 08/31/10) -
Goldstone Resources Inc.
("Goldstone" or "the Company") (TSX:GRC - News)
(PINK SHEETS:GRSZF - News)
is pleased to announce the additional results from its 100% owned
Key Lake drilling program located just west of Geraldton, Ontario.
The Key Lake Property is contiguous to the Premier Gold/Goldstone Resources
Hard Rock Project in Geraldton, Ontario where diamond drilling
by the Company's partner, Premier Gold (TSX:PG - News), has
established a significant gold resource at surface as well
as high grade intersections at depth.
The Company's current Key Lake drill program, estimated to
total 15,000 metres, will focus on finding near surface
gold mineralization amenable to open pit mining.
A total of 29 holes have been completed to date totaling 6,800m.
Results received from the additional 6 holes are presented in the table below:
--------------------------------------------------------------------------
Drilled
Hole No. UTM N UTM E Azi Dip Au g/t Interval From To
--------------------------------------------------------------------------
--------------------------------------------------------------------------
KL 10-04 5506267 492308 192 -47 0.75 14 72 86
KL 10-05 5506344 492325 192 -58 1.18 21 157 178
KL 10-06 5506299 492213 192 -47 1.08 19 84 103
KL 10-7B 5506331 492219 192 -53 1.45 28 50 78
KL 10-08 5506355 492225 192 -61 1.10 30 160 190
1.29 29 212 241
KL 10-14 5506339 491915 12 -47 1.21 28 75 103
--------------------------------------------------------------------------
Complete results for the remainder of the holes are still outstanding. Holes drilled were not in numeric order due to logistics and planning. True width of the zone is approximately 70% of drilled interval.
ABOUT KEY LAKE
The Key Lake horizon has an approximate strike length of 2.5km. The initial Phase 1 of drilling was concentrated on about a 1km
strike length which hosted the former Jelex Mine.
Historic drilling by Cyprus in the mid-90's outlined a 40-50m
wide zone of disseminated gold with a higher grade core
comprised of a quartz-feldspar porphyry.
The initial drilling of Goldstone's program was aimed at
twinning historical holes and filling in gaps along
the corridor at 100m intervals.
The exploration program is managed by Goldstone Resources under
supervision of Mike Kilbourne, P.Geo, Vice President of
Exploration and the qualified person for Goldstone Resources.
Mr. Kilbourne prepared this release and states,
"Key Lake has been a primary drill target since the amalgamation
of Ontex Resources and Roxmark Mines.
We are very pleased with the additional results and by
the continued success of the drill program."
On-site Quality Assurance/Quality Control Measures
All samples have been shipped to ACTLABS preparation laboratory in Geraldton Ontario, with analyses performed in the ACTLABS laboratory in Thunder Bay, Ontario. All core samples were selected by Goldstone site geologists, and were cut in half by diamond core saw. Individual samples were labeled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags that were labeled and secured by tape for shipping. The remaining coarse reject portions of the samples remain in storage at the ACTLABS preparation laboratory storage facility in Geraldton as required in the event that further work is needed.
Independent Quality Assurance and Quality Control Protocol
A QA/QC program has been implemented to monitor all assays from the current drilling program. Samples are assembled in numbered batches of 35 samples. Included in each batch of 35 samples are two certified reference standards, two laboratory duplicates, one blank sample comprised of silica sand and one core duplicate sample. This QC program was set up for Goldstone Resources by Tracy Armstrong, P. Geo, of T.J. Armstrong Geological Consulting Inc. Ms. Armstrong is a qualified geologist in the Provinces of Ontario, Quebec and British Columbia.
Further information is available on the Company's website at http://www.grcmines.com and on SEDAR under the Company's profile at http://www.sedar.com.
Contacts:
Goldstone Resources Inc.
J. Patrick Sheridan
President & Chief Executive Officer
(416) 628-5930
(416) 628-5935 (FAX)
http://www.grcmines.com
http://ca.us.biz.yahoo.com/iw/100831/0657227.html?.v=1
GRC its time to catch UP on the GOLDSTONE old Au producers
TA TI 50DMA its a lot bulls living above and even more above
200DMA
RSI & MACD turned alert to buy zone
new dir. - thee may fooled Philips once but NOT TWICE
Investors see recent developments as the best thing to happen to GRC in a long time....
Goldstone Resources (TSE:GRC)
Last Price (USD) $0.63
Change 0.22 (53.66%
Bid 0.63
Ask 0.65
Volume 5,610,207 Strong Demand again firming UP
Days Range 0.41 - 0.66
Last Trade 8/27/2010 4:19:34 PM
GO Philip, take the steering wheel captain -
its belong to you and its overdue!
ROXMARK Video presentation by chairman Philip F. Cunningham -
has been a director of the company since August 2004 -
and Chairman since May 2005. Mr. Cunningham is executive vice
president of Mackenzie Financial Corporation and
chairman of Mackenzie Financial Services Inc.
He joined the Mackenzie organization in 1982 -
Mackenzie -
offers more than 100 investment funds in Canada and
the United States -
Mackenzie - manages more than $45 billion -
for over 1,000,000 investors and their financial advisors...
as major shareholder for (Roxmark Mines Limited) -
GOLDSTONE RESOURCES (TSE:GRC)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53774556
God Bless
GO Philip, take the steering wheel captain -
its belong to you and its overdue!
ROXMARK Video presentation by chairman Philip F. Cunningham -
has been a director of the company since August 2004 -
and Chairman since May 2005. Mr. Cunningham is executive vice
president of Mackenzie Financial Corporation and
chairman of Mackenzie Financial Services Inc.
He joined the Mackenzie organization in 1982 -
http://www.roxmark.com/videos/roxvideo.html
Mackenzie -
offers more than 100 investment funds in Canada and
the United States -
Mackenzie - manages more than $45 billion -
for over 1,000,000 investors and their financial advisors...
as major shareholder for (Roxmark Mines Limited) -
GOLDSTONE RESOURCES (TSE:GRC)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53774556
God Bless
kiwisteve thanks, that is great gold values near-surface,
open pit style, mineralization in addition to defining
multiple zones of higher grade mineralization -
Goldstone Resources Inc.
TSX: GRC
PINK SHEETS: GRSZF
Goldstone Resources Inc.
Aug 25, 2010 12:04 ET
Goldstone Resources Announces Joint Venture Partner Premier Gold Drilling Continues to Expand Near-Surface Gold Zones at Hardrock
TORONTO, ONTARIO--(Marketwire - Aug. 25, 2010) -
GOLDSTONE RESOURCES INC.
(TSX:GRC)(PINK SHEETS:GRSZF) is pleased to announce that ongoing
drilling continues to delineate significant near-surface gold
mineralization in multiple zones at the Hardrock Project in
Northwestern Ontario.
Current drilling is focused on expanding and defining
near-surface, open pit style, mineralization in addition
to defining multiple zones of higher grade mineralization
that are expected to comprise resources amenable to
underground mining methods.
Highlights from recent drilling include:
* The identification of two primary high-grade lenses within the NN Zone horizon. Intersections in the newly identified "East Lense" have returned up to 13.05 grams per tonne Gold (g/t Au) across 4.1 metres (m) or 0.38 ounces per ton (oz/t) across 13.5 feet.
* Infill and expansion drilling further defines the EP Zone (open-pit) target with intersections of up to 3.16 g/t Au across 16.5 m (0.09 oz/t across 54.1 feet), 7.10 g/t Au across 9.0 m (0.21 oz/t across 29.5 feet) and 5.43 g/t Au across 10.2 m (0.16 oz/t across 33.5 feet).
* Deep drilling in the North and F-Zone continues to intersect impressive gold values suggesting excellent resource potential proximal to and below existing mine workings. Further results from this drilling are expected in the near future.
NN Zone Drilling
The near-surface portion of the NN Zone has now attained a strike length of approximately 600 metres. Recent drilling has been focused on defining narrower, underground style mineralization down-plunge and at depth below the previously announced, near-surface, NI43-101 resource estimate at Hardrock. Of particular significance, drilling has identified two lenses of higher-grade gold mineralization, both of which remain wide open for expansion (see Figure 1). Highlight intersections include 13.05 g/t Au across 4.1 m (0.38 oz/t across 13.5 feet) in hole MM160 from the new eastern high-grade lense that was identified when following-up a previously drilled intersection of 4.93 g/t Au across 10.5 m (0.14 oz/t across 34.4 feet), and previously announced intersections within the main NN zone that returned 22.97 g/t Au across 24.8 m (0.67 oz/t across 81.4 feet) and 8.14 g/t Au across 9.0 m (0.24 oz/t across 29.5 feet). Follow-up drilling down-plunge of these intersections is underway. New drill results from the NN Zone are contained in Table 1.
http://www.marketwire.com/press-release/Goldstone-Resources-Announces-Joint-Venture-Partner-Premier-Gold-Drilling-Continues-TSX-GRC-1309558.htm
Table 1 New Sub Zone Intercepts from NN Zone
Hole-ID UTM
Coordin-
ates
(m) Dip/
Azimuth
(deg-
rees) From
(m) To
(m) Inter-
val
(m) Grade
(g/
tonne) Inter-
val
(ft) Grade
(oz/
ton) Zone
MM143 5502849 N
503650 E -50/360 265.0 267.0 2.0 3.29 6.6 0.10 NN
MM146 5502802 N
503649 E -50/360 325.0 330.0 5.0 3.23 16.4 0.09 NN
includ-
ing 326.0 327.0 1.0 11.20 3.3 0.33 NN
MM148 5502850 N
503600 E -55/360 367.0 369.2 2.2 3.05 7.2 0.09 NN
MM160 5502852 N
504249 E -50/360 291.7 322.8 31.1 2.74 102.0 0.08 Upper
NN
includ-
ing 309.0 313.1 4.1 13.05 13.4 0.38 Upper
NN
MM165 5502818 N
504246 E -56/360 360.3 367.5 7.2 1.57 23.6 0.05 Upper
NN
403.0 405.2 2.2 13.15 7.2 0.38 NN
True widths estimated at approximately 70% of intersection widths
Missing holes can be considered to carry no significant value or will be included with other zones.
To view Figure 1 NN Zone Longitudinal Section (Looking North), please visit the following link: http://media3.marketwire.com/docs/HardRockInZone.pdf.
EP Zone Drilling
Infill and expansion drilling in the EP Zone continues to define high-grade, open-pit style and underground style gold mineralization. The EP Zone comprises much of the current near-surface gold resource at Hardrock and drilling is aimed at converting inferred resources to indicated status. A highlighted selection of drill results deemed to be significant from the EP Zone is contained in Table 2.
Table 2 New Sub Zone Intercepts from the EP Zone
Hole-ID UTM
Coordin-
ates
(m) Dip/
Azimuth
(deg-
rees) From
(m) To
(m) Inter-
val
(m) Grade
(g/-
tonne) Inter-
val
(ft) Grade
(oz/
ton) Zone
EP121 5503061 N
504450 E -45/360 140.2 146.0 5.8 1.77 19.0 0.05 NLB
173.7 176.0 2.3 8.28 7.5 0.24 NLC
EP122 5503060 N
504400 E -45/360 201.9 207.1 5.2 4.36 17.1 0.13 X
EP123 5503031 N
504399 E -45/360 218.5 229.5 11.0 2.19 36.1 0.06 NLB
includ-
ing 218.5 219.6 1.1 16.80 3.6 0.49 NLB
237.2 244.5 7.3 1.75 23.9 0.05 X
EP127 5503111 N
504550 E -38/360 49.6 60.5 10.9 0.91 35.8 0.03 NL
127.5 136.5 9.0 2.32 29.5 0.07 X
EP131 5502887 N
504400 E -50/360 240.8 247.8 7.0 1.37 23.0 0.04 SLB
261.4 264.6 3.2 1.63 10.5 0.05 SL
294.0 305.7 11.7 1.04 38.4 0.03 NL
369.6 371.0 1.4 6.48 4.6 0.19 NLB
382.0 382.8 0.8 12.20 2.6 0.36 NLC
EP134 5502910 N
504449 E -50/360 303.0 319.5 16.5 3.16 54.1 0.09 NL
327.9 331.5 3.6 3.82 11.8 0.11 NLC
357.7 360.0 2.3 11.00 7.5 0.32 X
Hole-ID UTM
Coordin-
ates
(m) Dip/
Azimuth
(deg-
rees) From
(m) To
(m) Inter-
val
(m) Grade
(g/
tonne) Inter-
val
(ft) Grade
(oz/
ton) Zone
EP139 5502990 N
504500 E -60/360 111.5 113.0 1.5 5.28 4.9 0.15 SLC
156.5 166.7 10.2 5.43 33.5 0.16 SLB
246.0 249.0 3.0 2.98 9.8 0.09 NLB
400.8 402.0 1.2 47.80 3.9 1.40 X
EP141 5502990 N
504600 E -60/360 152.0 154.0 2.0 3.46 6.6 0.10 SLC
268.0 270.6 2.6 11.67 8.5 0.34 NLB
288.0 303.0 15.0 3.11 49.2 0.09 NLC
EP142 5503000 N
504700 E -60/360 190.5 192.0 1.5 7.00 4.9 0.20 SL
202.5 208.5 6.0 3.25 19.7 0.09 NL
219.0 240.0 21.0 2.37 68.9 0.07 NLB
253.5 254.5 1.0 9.55 3.3 0.28 NLC
EP143 5502940 N
504750 E -60/360 289.5 314.2 24.7 2.94 81.0 0.09 NLC
includ-
ing 310.4 314.2 3.8 8.42 12.5 0.25 NLC
EP145 5504980 N
504900 E -60/360 204.0 213.0 9.0 7.10 29.5 0.21 SL
281.0 282.0 1.0 22.80 3.3 0.67 NLB
True widths estimated at approximately 70% of intersection widths
Missing holes can be considered to carry grades and widths consistent with management's expectations or contain no significant values.
Hardrock Deeps
Three drills are currently defining mineralization in several areas below the limits of historical mining at Hardrock, from which more than 2.1 Million ounces of gold was mined to a maximum depth of 600 metres, shallow for an Archean gold deposit. Results from this drilling are expected to be released in the near future.
"Our drilling both proximal to and below the historic mine workings is returning impressive results in multiple areas. This is very significant for the project because it confirms that the historic zones extend to depth and several targeted resource blocks remain wide open for expansion" stated Tim Twomey, Exploration Manager for Premier. "Our drilling continues to identify gold mineralization in new areas with consistent plunges to depth. This continued success has the potential to add materially to our current mineral resource."
The Hardrock Project is operated under a joint venture with Goldstone Resources Inc.(TSX:GRC) (Premier holds a 70% interest in the project). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold primarily from shallow depths within 600 metres of surface from 1938-1968. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property. A revised mineral resource estimate is expected to be completed following the 2010 drill program, potentially containing both open pit and underground style resources.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone:
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp.
For more information, please contact
Goldstone Resources Inc.
J. Patrick Sheridan, Jr.
President & Chief Executive Officer
(416) 864-6332
(416) 628-5935 (FAX)
http://www.grcmines.com
http://www.marketwire.com/press-release/Goldstone-Resources-Announces-Joint-Venture-Partner-Premier-Gold-Drilling-Continues-TSX-GRC-1309558.htm
Golstone Resources (USOTC:GRSZF)
Last Price (USD) $0.3863
Change ? -0.0232 (-5.67%)
Bid -
Ask -
Volume 3,333
Days Range 0.3863 - 0.3863
Last Trade 8/20/2010 9:38:58 AM
Gold target being to around $1,950 per ounce -
Au 2nd LT bullwave to run
http://www.grcmines.com/
THE DAY GOLD CORNERS PAPER MONEY
On that day, according to Professor Antal E. Fekete,
a spontaneous gold corner could develop;
but the corner would not be driven by speculators
cornering a commodity to drive up its price.
The corner will be caused by the refusal of those who own
gold to exchange their increasingly precious metal for
increasingly worthless paper currencies.
Since 1913 when the Federal Reserve first issued its debt based
paper money in the US, the paper US dollar has lost 95 % of
its value, a loss of 95 % over 95 years.
Perhaps in five more years, 100 years after the creation of
the Federal Reserve, the US dollar will have lost 100 % of
its value - which means in five years -
the US paper dollar will be worth nothing.
Throughout history, no fiat money system has stood the test
of time.
All attempts to substitute paper money for gold and silver
have ended in the total destruction and debasement of
the currency.
This time will be no different.
It is hubris to think otherwise but unfortunately the vast
majority have been brain washed by elite media to do -
which is a clear sign they're not thinking at all -
http://www.bibliotecapleyades.net/sociopolitica/sociopol_bigcrash26.htm
its a long hike UP to closer to fair value -
gold has not started the bull run yet -
For more information, please contact
Goldstone Resources Inc.
J. Patrick Sheridan
President & Chief Executive Officer
(416) 864-6332
(416) 628-5935 (FAX)
http://www.grcmines.com
Click here to see all recent news from this company
http://www.marketwire.com/press-release/Goldstone-Resources-Exploration-Update-TSX-GRC-1259505.htm
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
CYPRUS CANADA INC.
REPORT ON GEOLOGICAL MAPPING
ROXMARK PROPERTY
Geraldton, Ontario
NTS: 42E/11
Latitude: 49 43' N Longitude: 87 04' W
http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/42E10NW0009//42E10NW0009.Pdf.
THE JELLICOE GOLD MINE PROPERTY Report;
http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/42E11NE0116//42E11NE0116.Pdf.
Page 1
12E11NEei16 63.3118 LINDSLEY
REPORT ON
' THE JELLICOE GOLD MINE PROPERTY
LITTLE LONG LAC AREA
NORTHWESTERN ONTARIO
PREPARED FOR
JELEX MINES LIMITED
010
Toronto, Ontario
5 March 1974
by
L. G. Phelan, 'M. A. Se., P. Eng.,
Consulting Geologist
l
Page 2
REPORT ON
THE JELLICOE GOLD MINE PROPERTY
LITTLE LONG LAC
AREA
NORTHWESTERN, ONTARIO
Jelex Mines Limited holds a former producing gold mine in the
Little Long Lac camp of Northwestern Ontario.
The following
is a resume of pertinent information and a proposed exploration
i
program. Data in the report are derived from Company records
and from various Ministry of Natural Resources files and
publications.
PROPERTY
The property consists of ten continguous patented
mining claims totalling approximately 400 acres and numbered
12145 to 12150 inclusive, and 12405 to 12408 inclusive. It
i
is situated in east-central Liflflslev Township, about seven
miles west of the Town of Geraldton and approximately 180
miles northeast of the City of Thunder Bay.
The Trans Canada highway, a power line, natural gas
pipeline, and a railway are all in the immediate vicinity of
the property.
The claims cover the old Jellicoe gold mine, a former
gold producer at the westerly end of the long series of mines -
Tombill, Bankfielci, Magnet, Little Long Lac, MacLeod-Cockshutt,
Mosher, Hard Rock, etc. - that made up the Little Long Lac
gold camp.
Page 3
-2-
HISTORY
Gold was discovered in the area in 1931 and production
commenced at the nearby Little Long Lac Mine in 1934. In that
same year Jellicoe Gold Mining Company Ltd. (later Jellicoe
Mines (1939) Ltd.) was incorporated to acquire a block of
overburden - covered ground adjoining to the west of Tombill,
and including the present Jelex claims. An extensive diamond
drilling program was undertaken which succeeded in locating
gold mineralization in two areas.
In 1937 a shaft was sunk
to 536 feet, and over the next two years both surface and
underground exploration and development were continued. This
work succeeded in outlining one relatively small mineable shoot
within a very extensive gold-bearing zone which carried erratic
values over a strike length of almost two miles.
In 1939-40, 14722 tons were mined from the above shoot,
and trucked to the Magnet and Bankfield mills where they were
treated on a custom basis.
From this ore Jellicoe realized
$216,488.
Total metals produced were 5672 oz. gold and 687 oz.
silver, indicating an average recovery of 0.38 oz. Au and
0.05 oz. Ag per ton.
The mine closed in 1940. No work has been reported
on the property since that date. A tabulation of work done,
from Ontario Department of Mines records, is as follows:
Page 4
Surface diamond drilling
Jnderground diamond drilling
haft sinking
)rifting
C-cutting
GENERAL GEOLOGY
-3-
17,408 feet
17,210 feet
536.5 feet
6,475 feet
670 feet
The property occupies part of an extensive east-west
trending "greenstone belt" consisting of interbedded volcanics
and sediments intruded by diorites and feldspar porphyries,
and by late diabase dikes.
The Jelex ground is totally overburden-covered. Geology
is known only from drilling and underground workings, so many
details are lacking. The property appears to be underlain
entirely by sediments - greywackes with lesser amounts of iron
formation, conglomerate, and arkose, - intruded by narrow
concordant dikes or sills of diorite and quartz-feldspar
porphyry, all with an average N 70O W strike and steep
southerly dips. Mapping further east indicates these rocks
form the south limb of a regional synclinal structure. A
cross-cutting fault with strike of N 20O E and with righthand
displacement is known to cross the central part of the property,
while several conformable shears and faults, including the
major Bankfield, Tombill fault have been intersected in
drilling.
ECONOMIC GEOLOGY
The central part of the Jelex property is traversed
by an arkose horizon, about 300 feet wide, containing lenticular
lintebeds of greywack and shale, and narrow but persistent
porphyry dikes. To the north of the arkose, rocks are
Page 5
-4-
dominantly greywacke with minor arkose interbeds; to the
south is chloritic greywacke and iron formation, again with
minor arkose interbeds.
This arkose horizon has been closely drilled across
the full 10,000 foot width of the property, and gold values
have been intersected in virtually every hole drilled. The
gold occurs in quartz stringers and veinlets, in zones of
shearing and silicification, and in one or more narrow
quartz-feldspar porphyry dikes.
The quantity of gold
present is commonly low and over narrow widths^but persistent
and widespread, with one, or more often two or more inter
sections in most holes, and in some locations shoots with
substantial widths and grades are indicated.
The best known of such shoots was of course, the
15,000 ton block that was mined.
Gold occured in a zone of
shearing and silicification, with disseminated arsenopyrite
and pyrite.
The mineable section was a wedge-shaped block
about 350 feet by 100 feet by about five feet wide.
About 1000 feet east of this stoped area is a 400
*'
foot strike length with several intersections of very
definite interest,namely:
Hole fl
Core Length
4.-0
66
67
70
69
69
69
68
4.0
1.0
5.0
4.0
3.0
10.0
Assay
0.13 oz. Au/ton
0.98
1,53
0.43
1.10
0.25
0.13
Page 6
-5-
Some 3000 feet west of the stoped area there is a
400 foot strike length in which are found a group of
intersections of perhaps greater interest, insofar as they
represent considerably greater widths/namely:
Hole ft
Core Length
Assay
14
9
B,H.
40
1
2
25.0.
27.0
18.0
9.0
12.0
13.2
0.11 oz. Au/ton
0.14
0.20
0.07
0.12
0.11
The core lengths quoted would appear to represent
close to the true widths.
Elsewhere throughout this arkose horizon there are
scattered drill intersections with comparable values and
widths, and areas where core was lost but sludges carried
gold over good widths.
Here and elsewhere in the Little Long Lac camp,
gold is found in the more brittle rocks - arkose and
porphyry - and commonly locallized by rather subtle
structural features such as minor folds and warps in the
beds. This was evident in the shoot mined and would appear
to be the case in the zone west of the shaft where values
trend across the arkose at an acute angle. However recognition
of such structures is very difficult.
GENERAL DISCUSSION AND CONCLUSIONS
A great deal of exploration has been done on the
property, including extensive surface and underground drilling.
Page 7
-6-
Furthermore, between the first and third levels of the mine,
the arkose horizon has been drifted on for a length of 4400
feet.
This work led to the mining of only one shoot of
15,000 tons.
On the positive side is the very persistent and
widespread gold mineralization extending across the full
10,000 foot width of the property, and at least two unmined '
shoots of very interesting dimensions.
Furthermore virtually
all drilling has been restricted to relatively shallow depths.
Throughout the Little Long Lac camp gold mineralization
has been closely related to minor and sometimes obscure
structural features. The lack of outcrop and the limited
widths exposed underground, coupled with the general similarity
and the repetition of various sedimentary beds makes recognition
of these controlling structures difficult.
In summation, while a vigorous effort was made in the
1930's to develop larger tonnages of ore, it would appear
that good exploration possibilities remain. It further
*
appears evident that only a careful and meticulous study of
the geology and resolution of the factors controlling
distribution of gold mineralization will enable the present
effort to succeed.
RECOMMENDATIONS
Lacking any outcrop, the one technique that may give
useful geological information, other than drilling or de-
watering, is a close and detailed magnetometer survey. There
may or may not be a recognizable magnetic contrast between
Page 8
-7-
the greywacke and arkose, but there are, within the
greywacke,several narrow iron formation beds which
certainly should have sufficient magnetic relief to use
as marker horizons. Furthermore there are diorite sills
which may be traceable magnetically. As a first step
in exploration of the ground a detailed magnetometer
survey is recommended, covering a half-mile wide strip
centred on the arkose horizon and extending across the
full width of the property.
A 200 foot line grid, with base and tie lines cut
over this area would total approximately 30 miles and cost
about $3500.00. A detailed magnetometer survey, with
fifty-^foot readings on all lines, would cost approximately
$3,000.00.
At this stage a correlation of known geology/ and
particularly known gold occurrences/ with the magnetics,
will be required; some closer magnetic work and perhaps
preparation of models may prove useful.
Estimated cost of such work $3,500,00
A limited drilling program would then be indicated
to test the geological ideas forthcoming and particularly
to test the better shoots described above. A minimum of
about 2500 feet of drilling is recommended, at an all-up
cost of the order of $10.00 per foot, and totalling
$25,000.00
Assuming favourable results, follow-up work would
take the form of either further surface drilling or
Page 9
-8-
dewatering and testing from underground. No definite
recommendations can be made until the initial program is
completed.
Respectfully submitted.
Toronto, Ontario.
5th March 1974
L. G. Phelan, M. A. Se., P. Eng.,
/' .Consulting Geologist
Page 10
CERTIFICATE OF QUALIFICATION
I, LEO GERARD PHELAN, do hereby certify that:
1.
I am a practising consulting geologist with offices
at 55 York Street, Toronto, Ontario.
2.
I am a.graduate of the University of Toronto and have
been granted the degrees of Bachelor of Applied Science in
1947 and Master of Applied Science in geology in 1949.
3.
I am a member of the Association of Professional
Engineers of Ontario and Manitoba, a member of the Canadian
Institute of Mining and Metallurgy and a fellow of the
Geological Association of Canada.
4.
I have no interest, direct or indirect, in the
claims which are the subject of this report, nOr in the
securities of Jelex Mines Limited nordo I expect to receive
any such interest whatsoever.
5.
Information in this report is baaed on primarily
on Jellicoe Mine records, on publications and files of the
Ministry of Natural Resources, and on my personal experience.
I was formerly geologist at the nearby Little Long Lao mine
and have worked extensively in the area.
Toronto, Ontario
5th March 1974
L. G. Phelan
Page 11
NEITHER THE ONTARIO SECURITIES CCf
^"waiie es.am LINDSLEY
020
HAS IN ANY WAY PASSED UPON THE MEHi/iD uc xnt OCAAUUTJUIU} ucrrouiu
AND ANY REPRESENTATION TO THE CONTRARY IS AN OFFENCE.
STATEMENT OP MATERIAL FACTS
JELEX MINES LIMITED ,
\
r .-'
.--,
\
(the "Corporation") f
i
'
i'
:
' '
' ''-i
( '
. f
' " ,
A - TREASURY OFFERING - (FIXED PRICE):
, '. : '!
OFFERING BY THE CORPORATION OF A SUFFICIENT NUMBER OF TREASURY
SHARES (BUT IN ANY EVENT NOT EXCEEDING 500,000 SHARES) WITHOUT
PAR VALUE IN THE CAPITAL OF THE CORPORATION AT A PRICE NOT LESS
THAN 16 CENTS PER SHARE TO PROVIDE THE CORPORATION WITH $80,000
BEFORE PAYMENT OF AGENT'S COMMISSION.
The shares will be offered by HECTOR M. CHISHOLM t CO. LIMITED,
11 Adelaide Street West, Toronto, Ontario, as agent for the
Corporation, by means of a fixed price offering on the Floor of
The Toronto Stock Exchange at such price as shall be determined
by the Corporation with the approval of The Toronto Stock
Exchange, which price shall not be less than 16 cents per share.
The proceeds of the sale of these shares will accrue to the
benefit of the treasury of the Corporation. For particulars of
the offering, refer to Items 2 and 3.
The offering will take place on a day to be specified by the
Corporation in consultation with The Toronto Stock Exchange,
which day shall be announced by the said Exchange within a
period of not less than five business days and not more than
twenty-one business days after the date of mailing of this
Statement by the Corporation. Between the hours of 8j00 a.m.
and 8:30 a.m. on such day a book will be maintained on the
Floor of The Toronto Stock Exchange to receive purchase orders.
The offering is subject to sufficient purchase orders being
received to realize for the Corporation a minimum of $80fOOO
before payment of the agent's commission. If sufficient
purchase orders are not received to realize for the Corporation
the said sum of $80,000 (before commission), the offering will
be withdrawn by the Corporation. If, in the opinion of The
Toronto Stock Exchange, a bona fide public distribution has not
been accomplished, the offering may be cancelled by the Exchange.
Page 12
-2-
B - SECONDARY OFFERING:
John Lane Dillman, (the "Selling Shareholder"), will offer, as
principal for his own account, and through Hector M. Chisholm
b Co. Limited, as agent for the Selling Shareholder, 80,000
previously issued shares of the Corporation. The proceeds of
any sales will not accrue to the Corporation. These shares
will be sold by the said agent through the facilities of
The Toronto Stock Exchange at the prevailing market prices
from time to time. None of the shares will be offered for
sale unless and until the Treasury Offering has been completed,
to realize at least $80,000 for the Corporation, before agent's
commission. The selling shareholder will pay his pro rata share
of the costs of the Treasury Offering. For particulars of the
Secondary Offering, refer to Items 2 and 3.
HECTOR M. CHISHOLM S CO. LIMITED
11 Adelaide Street West
i
Toronto, Ontario
r
Telephone: 362-4731
l:
. -
.
.
' .
THE SECURITIES OFFERED HEREBY ARE SPECULATIVE SECURITIES.
Page 13
FORM 23
THE SECURITIES ACT, 1966
NEITHER THE ONTARIO SECURITIES COMMISSION NOR THE TORONTO STOCK EXCHANGE
HAS IN ANY WAY PASSED UPON THE MERITS OF THE SECURITIES OFFERED HEREUNDER,
AND ANY REPRESENTATION TO THE CONTRARY IS AN OFFENCE.
ONTARIO SECURITIES COMMISSION
THE TORONTO STOCK EXCHANGE
JELEX MINES LIMITED
Suite 2319 - 401 Bay street
Toronto, Ontario
STATEMENT OF MATERIAL FACTS
TREASURY OFFERING AND SECONDARY OFFERING
1.
Give brief details of the circumstances relating to the
offering of the securities and any material changes in
the affairs of the issuer.
* * * * *
The Treasury Offering which is being made by the Corporation
under this Statement of Material Facts is being made to provide
the funds necessary to put the Corporation in a positive working
capital position and to permit the Corporation to carry out an
exploration program on its patented gold prospect in Lindsley
Township, Little Long Lac area, Ontario. Reference is madeto
Items 4 and 12 hereof for further particulars.
2.
Set out the description, designation and number of shares
being offered by the issuer or selling shareholder. If
any of the shares being offered are to be offered for
the account of a selling shareholder, name such share
holder and state the number of shares owned by him, the
Page 14
-2-
number to be offered for his account, and the number to
be owned by him after the offering.
* * * * *
A - TREASURY OFFERING;
Hector M. Chisholm s Co. Limited, 11 Adelaide Street West,
Toronto, Ontario, acting as agent for the Corporation, will
offer a sufficient number of shares without par value in the
capital of the Corporation, but, in any event, not exceeding -
500,000 shares, at such price as shall be determined within the
rules of The Toronto Stock Exchange, so as to provide the
Corporation with a minimum of $80,000, before payment of the
agent's commission. Such shares will be offered pursuant to
this Statement of Material Facts through the facilities of The
Toronto Stock Exchange on a fixed price offering basis.
B - SECONDARY OFFERING;
Subject to the aforesaid Treasury Offering being duly made
and completed, John Lane Dillman,Apt. 1014, 240 Wellesley St.E.,
Toronto, Ontario , as a selling shareholder, will offer for his
own account, through the said Hector M. Chisholm St Co. Limited,
as his agent, 80,000 previously issued shares of the Corpora
tion owned by the Selling Shareholder. The 80,000 shares
represent all of the shares of the Corporation owned by the
Selling Shareholder and he will retain no shares.
3*
Set out the price to the public, underwriting discounts
or commissions and the estimated net proceeds to the
issuer or selling shareholder, on both a per share and
an aggregate basis. If it is not possible to state the
price to the public or the underwriting discount or
commissions, the method by which they are to be
determined shall be explained. Give the range of the
market price during the previous ninety days.
* * * * *
A - TREASURY OFFERING;
By agreement made March 5, 1974, Hector M. Chisholm 6 Co.
Limited, 11 Adelaide Street West, Toronto, Ontario, {the
"Agent"), has agreed to act as the Corporation's agent and,
as such, to offer for sale a sufficient number of fully paid
and non-assessable shares in the capital of the Corporation,
but, in any event, not exceeding 500,000 shares, at such
Page 15
-3-
price as shall be necessary to realize for the Corporation the
minimum of $80,000 before payment of the Agent's commission.
These shares will be offered at such time as the Corporation
instructs the Agent and will be offered through the facilities
of The Toronto Stock Exchange at a fixed price which shall be
at a discount from the last sale price on The Toronto Stock
Exchange on the day prior to the offering being made. The
offering price shall not be less than 16 cents per share.
Such discount shall not exceed the maximum discount allowed by
The Toronto Stock Exchange. A book will be maintained on the
Floor of the Exchange from 8:00 a.m. to 8:30 a.m. on the day
determined for such offering and subscriptions will be received
from other member houses. The Agent may reserve not more than
75% of the offered shares to fill orders of its own clients. If
sufficient purchase orders are not received to realize for the
Corporation $80,000 (before commission), the offering will be
withdrawn by the Corporation. If, in the opinion of The Toronto
Stock Exchange, a bona fide public distribution has not been
accomplished, the offering may be cancelled by the Exchange.
The Offering will take place on a day to be specified by the
Corporation in consultation with The Toronto Stock Exchange,
which day shall be announced by the said Exchange within a
period of not less than five business days and not more than
twenty-one business days after the date of mailing of this
Statement by the Corporation. Between the hours of 8:00 a.m*
and 8:30 a.m. on such day a book will be maintained on the Floor
of The Toronto Stock Exchange to receive purchase orders.
The Corporation, through the Agent, has the privilege to with
draw from or postpone the offering until 4s30 p.m. on the day
prior to the day named for the distribution.
The price at which shares in the capital of the Corporation are
to be offered does not represent the net price to the Corporation.
The Corporation's Agent will be entitled to a commission payable
by the Corporation with respect to such offering at the regular
commission rates as specified in the by-laws and rules of The
Toronto Stock Exchange. The purchaser of any shares under the
offering will be required to pay the regular commission rates
specified in the said by-laws and rules.
The maximum discount allowed by The Toronto Stock Exchange shall
be determined in accordance with the following formula!
CLOSING MARKET PRICE ON
DAY PRIOR TO OFFERING
MAXIMUM DISCOUNT THEREFROM
$ .20 and up to $ .50
251
^ .51 and up to $1.00
201
H.Ol and up to $2.00
18%
$2.01 and up to $5.00
a.5%
above $5.00
10%
Page 16
-4-
buring the 90-day period prior to the date of this Statement,
the Corporation's shares have traded at a low of 15C per
share and a high of 29 C per share.
B - SECONDARY OFFERING;
Subject to the aforesaid Treasury Offering being duly made and com
pleted, John Lane Dillman, Apt. 1014, 240 Wellesley St. E., Toronto, Ontario,
as a selling shareholder, will offer 80,000 previously issued
shares of the Corporation owned by him, at the market prices
prevailing from time to time. The Secondary Offering will be
made through Hector M. Chisholm s Co. Limited as agent for the
Selling Shareholder on a commission basis at the usual Exchange
rate. No part of the proceeds of sales under the Secondary
Offering will accrue to the Corporation.
The 80,000 shares to be offered by the Selling Shareholder
were purchased by him en bloc several years ago from a former
underwriter and represent the residue of certain underwritten
shares not previously distributed to the public.
4.
State the principal purposes for which the estimated
net proceeds to be derived by the issuer from the sale
of the shares to be offered are intended to be used and
the approximate amount intended to be used fot each
such purpose. If any material amounts of other funds
are to be used in conjunction with the proceeds i state
the amounts and sources of such other funds.
* * * * *
The Corporation will use approximately $35,000 of the net
proceeds of the Treasury Offering to carry out a program of
mineral exploration,including surface diamond drilling, on a
property of the Corporation comprising ten (10) patented mining
claims in Lindsley Township, Little Long Lac area, Ontario.
The work will consist of magnetometer work and detailed geolo
gical studies, followed by about 2,500 feet of diamond drilling,
Reference is made to Item 12 of this Statement for further
particulars.
Part of the net proceeds of the Treasury Offering will be used
to pay accounts payable (at December 31, 1973, $12,347) and
expenses incurred with respect to such Offering, including
legal, accounting, engineering and printing costs and filing
fees, all estimated not to exceed $5,000. The remaining net
proceeds will be retained as working capital and to pay
Page 17
-5-
ordinary administrative and operating expenses of the Corpora
tion. There was a present working capital deficiency at
December 31, 1973, of $2,154, and administrative and operating
expenses for 1974 are estimated at $7,500.
5.
State the laws under which the issuer was incorporated
and whether incorporated by letters patent or otherwise
or under a particular part of an incorporating statute
dealing with mining companies and the date thereof.
* * * * *
The Corporation was incorporated as Jellicoe Mines (1939) Limited under the
laws "of the Province of Ontario by letters patent dated April 3, 1939. By
supplementary letters patent dated October l, 1963, the name of the Corpora
tion was changed to Jelex Mines Limited, the capital was decreased from
$6 million by pro rata cancellation of 4,520,000 issued shares with a par
value of $l each (being on the basis of four out of every five issued shares);
and then increased to $5 million by creation of 3,520,000 additional shares
with such par value, ranking equally with the issued shares outstanding
after such cancellation. By articles of amendment which became effective on
December 30, 1971, the shares of the Corporation v: re changed into shares
without par value.
6.
Give names, addresses and chief
past five years of the officers
issuer.
* * * * *
POSITION HELD
President and
Director
NAME AND ADDRESS
ELMORE M. DILLMAN
2050 Stavebank Road
Mississauga,Ont.
WILLIAM D. MacLEAN
291 Riverside Dr.
Oakville, Ont.
JOHN S. GRANT, Q.C.
77 Clarendon Ave.,
Apt. 302
Toronto l9O,Ont.
CHARLES BERESFORD WALLACE
551 Eglinton Avenue E. Director
Toronto, Ont.
Vice-President
and Director
Director
LLOYD SHIER
1139 Royal York Rd.
Islington, Ont.
Secretary-
Treasurer and
Director
occupations for the
and directors of the
CHIEF OCCUPATION
FOR PAST FIVE YEARS
Professional Engineer,
Prospector and
Developer
Consulting Engineer.
Self-employed,
Toronto
Partner,
Hanley, Grant S Camisso
Barristers and Solicitors
390 Bay St., Toronto
Real Estate Broker.
Self-employed,
Toronto
Manager - Dacron
Corporation Limited,
formerly Controller of
John W. Clinkard Limited
Page 18
-6-
7.
State the share capitalization of the issuer showing
authorized and issued capital.
* * * * *
The authorized capital of the Corporation consists of 5 million
shares without par value, of which there are issued and out
standing 3,492,500 fully paid and non-assessable shares.
8.
Give particulars of any bonds, debentures, notes,
mortgages, charges, liens or hypothecations of the
issuer.
* * * * *
There are none.
9.
Outline briefly the manner in which the shares being
offered are to be distributed, giving particulars of
any outstanding or proposed underwriting or option
agreement, including the name and address of each
underwriter or optionee. Give similar particulars of
sub-underwriting or sub-option agreements outstanding
or proposed to be given and particulars of any assign
ments or proposed assignments of any such agreements.
A - TREASURY OFFERING;
The shares in the capital of the Corporation being offered
hereby will be distributed by Hector M. Chisholm S Co. Limited,
acting as agent on behalf of the Corporation, through the
facilities of The Toronto Stock Exchange by a fixed price
offering in the manner and at the price to be determined as
set forth in Items 2 and 3 hereof. There are no sub-options
or sub-underwriting agreements outstanding or proposed to be
made.
B - SECONDARY OFFERING;
These shares will be offered by the Selling Shareholder named
in Items 2 and 3 hereof, through Hector M. Chisholm S Co.
Limited, as his agent, for his own account as principal.
Page 19
-7-
10.
Give name and address of any person or company who
beneficially owns, directly or indirectly, in excess
of 10S; of the shares of any company named in answer
to item 9 hereof and the number and percentage of
equity shares so owned.
* * * * *
HECTOR M. CHISHOLM St CO. LIMITED:
Name
Address
Percentage
of Issued Equity
Shares
NO. of
Owned
Shares
HECTOR M. CHISHOLM 41 St. Leonards Cresc.
Toronto, Ont.
GEORGE W. CHISHOLM 15 Ava Road
Toronto, Ont.
C. HARVEY RAVEN
65 Arjay Cresc.
Willowdale, Ont.
20. (^
20.01
264
100
100
11.
Give particulars of any payments in cash or securities
of the issuer made or to be made to a promoter or finder
in connection with the proposed underwriting.
* * * * *
Nil
Page 20
-8-
i
12.
Give brief particulars of important properties owned,
*
leased, held under option or operated or presently
t
intended to be owned, leased, held under option or
\
operated by the issuer.
l
l
* * * * *
\
*
(a)
10 patented mining claims in Lindsley Township, Little
Long Lac area, Thunder Bay district, Ontario.
i
(b)
A 25fc net interest (subject to prospectors' interest)
j
in 33 mining claims in the Eastmain River area of
f
Northern Quebec.
(c)
A 251 net interest (subject to prospectors' interest)
l
in 1,450 mining claims and in Exploration Permit No.
406, issued by the Department of Natural Resources,
l
Quebec, and all in the Ungava nickel belt of New
Quebec.
d1.
(d)
A two-thirds (2/Srd) interest in 10 mining claims in
l
Patapedia Township, Province of Quebec.
S
'
.
l
(e)
An 80% interest in 172 mining'claims in the Gays
1
River area of Nova Scotia (subject to joint venture
agreement with Imperial Oil Limited).
(f)
An 80% interest in 137 mining claims in the Gays
l .
River area of Nova Scotia (subject to joint venture
.
agreement with St. Joseph Exploration Ltd.).
w
i.
;
Page 21
-9-
13.
Indicate whether any property referred to in item 12 is
without a known body of commercial ore or reserves of
recoverable oil and gas.
* * * * *
None of the properties referred to in Item 12 contain a known
body of commercial ore.
Page 22
-10-
14.
Give brief particulars of the exploration and
development work of the issuer during the past year
and the results thereof.
A - Exploration and/or development work during the past year!
(a)
Gold prospect - Little Long Lac area, Ontario. Data
available on this former gold producing property was
reviewed, with a view to commencement of exploration.
(b)
Eastmain River, Quebec. No work was done.
(c)
Ungava nickel belt, NeW Quebec. A program of
geological mapping and geophysical work was done on
Exploration Permit No. 406 by Nuvilik Mining Limited,
-:
the Permit holder, in which company Jelex holds a
f
share interest of approximately 254. Results were not
significant but are still under study, and considera-
?
tion is being given to whether or not the Permit will
be renewed.
f
(d)
Patapedia Township, Quebec. No work was done.
(e)
Gays River area, Nova Scotia, Imperial Oil joint
venture.
,?*.:
t
'
Imperial oil Limited carried out geological mappingi
!
a geophysical survey and 3,315 feet of diamond
drilling at a cost of approximately $39,000. The
work indicated favourable geological conditions for
the possible occurrence of lead-zinc deposits and
J
further drilling has been recommended.
(f)
Gays River area, Nova Scotia, St. Joseph Exploration
Limited joint venture. No work was done.
B - Exploration and/or development work planned;
(a)
Gold prospect, Little Long Lac area of Ontario.
In accordance with the recommendations made in a
report dated March 5, 1974, for the Corporation, by
Leo Gerard Phelan, M.A. Se., P.Eng., Consulting
Geologist, the Corporation will carry out magnetometer
work, detailed geological studies and surface diamond
drilling on this property.
The following is a summary of March 5 report of Mr.
Phelan:
Page 23
-11-
A great deal of exploration has been done on the
property/ including extensive surface and underground
drilling. Furthermore, between the first and third
levels of the mine, the arkose horizon has been
drifted on for a length of 4400 feet. This work led
to the mining of only one shoot of 15,000 tons.
On the positive side is the very persistent and
widespread gold mineralization extending across the
full 10,000 foot width of the property, and at least
two unmined shoots of very interesting dimensions.
Furthermore virtually all drilling has been restricted -
to relatively shallow depths.
Throughout the Little Long Lac camp gold mineralization
has been closely related to minor and sometimes obscure
structural features. The lack of outcrop and the
limited widths exposed underground, coupled with the
general similarity and the repetition of various sedi
mentary beds makes recognition of these controlling
structures difficult.
In summation, while a vigorous effort was made in the
1930's to develop larger tonnages of ore, it would
appear that good exploration possibilities remain.
It further appears evident that only a careful and
meticulous study of the geology and resolution of the
factors controlling distribution of gold mineraliza
tion will enable the present effort to succeed.
RECOMMENDATIONS
Lacking any outcrop, the one technique that may give
useful geological information, other than drilling or
dewatering, is a close and detailed magnetometer
survey. There may or may not be a recognizable magnetic
contract between the greywacke and arkose, but there are,
within the greywacke, several narrow iron formation beds
which certainly should have sufficient magnetic relief
to use as marker horizons. Furthermore there are
diorite sills which may be traceable magnetically. As
a first step in exploration of the ground a detailed
magnetometer survey is recommended, covering a half-
mile wide strip centred on the arkose horizon and
extending across the full width of the property.
A 200 foot line grid, with base and tie lines cut over
this area would total approximately 30 miles and cost
about $3500.00. A detailed magnetometer survey, with
fifty-foot readings on all lines, would cost approximate
ly $3,000.00.
Page 24
-12-
At this stage a correlation of known geology/ and
particularly known gold occurrences, with the magnet-
ics, will -be required; some closer magnetic work
and perhaps preparation of models may prove useful.
Estimated cost of such work $3,500.00.
A limited drilling program would then be indicated to
test the geological areas forthcoming and particularly
to test the better shoots described above. A minimum
of about 2500 feet of drilling is recommended, at an
all-up cost of the order of $10.00 per foot, and
totalling $25,000.00.
Assuming favourable results, follow-up work would
take the form of either further surface drilling or
dewatering and testing from underground. No definite
recommendations can be made until the initial program
is completed.
The full report of Mr. Phelan has been filed with the Ontario
Securities Commission and The Toronto Stock Exchange and may
be inspected during business hours at the offices of the
Commission at 555 Yonge Street, Toronto, or at the Exchange
at 234 Bay Street, Toronto.
Page 25
. -13-
15.
Give brief particulars bf property proposed to be
acquired by the issuer or any affiliate or acquired
by the issuer or any affiliate within the previous
f
three years, including the name and address of the
l
vendor and the cost or proposed cost thereof to the
l
issuer or any affiliate, and if any such vendor is or
l
was an insider or promoter of the issuer or an
\
associate of any insider or promoter of the issuer,
f
so state and indicate the nature of the relationship.
ir
-AND-
f
17.
If the property referred to in item 15 was or is to be
1
paid for by the issuance of shares of the issuer or
l
any subsidiary, give (a) the number of shares of the
l
issuer and any subsidiary issued to or to be issued to
j
the vendor after giving effect to such transaction, and
t
(b) the number and, if more than 5% of the shares
l
presently outstanding, the percentage of shares of the
issuer and any subsidiary owned or to be owned by the
vendor after giving effect to the transaction. If the
.
vendor is a company, give the names and addresses of
the insiders of the company.
i': '
* * * * *
l
(a)
In late 1973 the Corporation acquired from Elmore M,
'
Dillman, its President, an 8(^ working interest in
f
11 mining tracts covering a total of 172 mining claims
l
located near Grand Shubenacadie Lake, Gays River area,
i
Nova Scotia. The remaining 201 working interest was
l
acquired from Mr. Dillman by Les Mines Marquis Limitee,
i
a company of which Mr. Dillman is the President.
The total consideration paid to Mr. Dillman was $231,
being the recovery of his o:
whereof Jelex paid $184.80.
S
being the recovery of his original acquisition cost,
In December, 1973, an agreement was completed with
Imperial Oil Limited whereunder Imperial may earn a
601 working interest in the property by spending on
exploration a total of 3200,000 by April l, 1978.
Imperial has made a commitment to spend not less than
$25,000 by April l, 1974. After such date, Imperial
may, at its election, continue exploration by making
a minimum exploration expenditure of $25,000 in each
12-month period until April l, 1978. If Imperial
shall elect to discontinue exploration, or if by
April l, 1978, Imperial has not spent ^200,000 in
the aggregate, Imperial has no further interest in
the property and the agreement will be terminated.
Page 26
-14-
If Imperial shall have spent $200,000 by April l, 1978,
it will have earned 6(^ of the working interest and
the retained joint interest of Jelex and Les Mines
Marquis will be reduced to 401, being 32% and 8%,
respectively. Subsequent expenditures will be on a
pro rata basis, with a non-participating party
suffering a reduction in interest at the rate of l* for
every $10,000 not contributed. In no event, however,
shall the joint interest of Jelex/Les Mines Marquis be
reduced below 15%.
(b)
In late 1973 the Corporation also acquired from Elmore -
, M. Di11man, its President, an 8(^ working interest in
ten mining tracts covering a total of 137 mining claims
in the Gays River area of Nova Scotia. The remaining
201 of the working interest was acquired by Les Mines
Marquis, referred to in (a) above.
The total consideration paid by the two companies to
Mr. Dillman was his original acquisition cost of
$210, the Corporation paying $168 of such amount.
An agreement has recently been completed with St.
Joseph Exploration Ltd. whereunder St. Joseph can
earn 60% of the working interest by spending $200I000
on exploration of the property by October 31, 1978.
St. Joseph has committed to an expenditure of a minimum
of $25,000, including the cost of renewals, by November
28, 1974. If, by October 31, 1978, St. Joseph has not
spent $200,000 on the property, St. Joseph has no
further interest in the property and the agreement will
be terminated.
If St. Joseph shall have spent $200,000 by October 31,
1978, it will have earned 601 of the working interest and
the retained joint interest of Jelex and Les Mines
Marquis will be reduced to 401, being 321 and 8%,
respectively. Subsequent expenditures will be on a pro
rata basis, with a non-participating party suffering a
reduction in interest at the rate of li for every
$10,000 not contributed, in no event, however, shall
the joint interest of Jelex/Les Mines Marquis be reduced
below 15*.
Page 27
-15-
16.
State the name of any person or company who is or has
been a promoter of the issuer within the preceding two
years and, if not disclosed in item 15, the nature and
amount of anything of value (including money, property,
contracts, options or rights of any kind) received or
to be received by each promoter.
* * * * *
There is and has been no promoter of the Corporation during
the last two years.
18.
Give the number and, if more than 5t, the percentage of
the shares of the issuer held in escrow or in pool and
a brief statement of the terms of the escrow or pooling
agreement.
* * * *
There are no shares in escrow.
Page 28
-16-
19.
Give the number of shares of the issuer owned of record
or beneficially, directly or indirectly, by each person
or company who owns of record, or is known either by
the issuer or the selling shareholder to own beneficially,
directly or indirectly, more than 5% of such shares, in
each case within ten days from the date hereof. Show
separately whether the shares are owned both of record
and beneficially, of record only, or beneficially only,
and show the respective amounts in percentages owned in
each such manner.
* * * * *
Shareholders over 51 - over 174,625.
OWNED OF
PRECENTAGE OF
NAME AND ADDRESS
' RECORD
ISSUED CAPITAL
Standard Securities Limited
556,919
15.9%
185 Bay Street
(believed of record
Toronto, Ontario
'
only, beneficial
owners unknown)
Roytor s Co. No. l A/C
274,450
c/o Royal Bank of Canada
(believed of record
20 King Street West
only, beneficial
Toronto, Ontario
owners unknown)
Amercosa Finance Limited
178,000
5.01
P. O. Box 28
(believed bene-
Toronto-Dominion Centre
ficially owned)
Toronto, Ontario
The following shares are owned of record or beneficially,
directly or indirectly, by the officers and directors of
the Corporation:
Name and Address
Position
Of Record Beneficially
ELMDRE M. DILLMAN
President and
107,000
112,800
2050 Stavebank Road
Director
Mississauga, Ont.
WILLIAM D. MacLEAN
Vioe-President and
l
l
291 Riverside Dr.
Director
Oakville, Ont.
Page 29
-17-
NattE and Address
Position
Of Record Beneficially
JOHN S. GRANT, Q.C.
Director
77 Clarendon Ave.
Apt. 302
Toronto 190, Ont.
C. B. WALLACE
Director
551 Eglinton Ave. E.
Toronto, Ont.
LLOYD SHIER
Secretary-
1139 Royal York Rd.
Treasurer and
Islington, Ont.
Director
20.
Give a brief statement of any material legal proceedings
to which the issuer or any of its subsidiaries is a
party or of which any of their property is the subject.
Make a similar statement as to any such proceedings
known to be contemplated.
* * * * *
None
21.
Give the aggregate direct remuneration, including amounts
for services rendered, paid or payable by the issuer and
its subsidiaries during the past year to the insiders of
the issuer.
* * * * *
The Corporation paid $6,300 in the aggregate to insiders
(directors and senior officers) in the financial year ended
December 31, 1973. The Corporation paid $3,000 during such year
to Dacron Corporation Limited for head office, accounting and
secretarial services. E.M. Di liman, President of the Corpora-
lion is a principal shareholder of Dacron Corporation Limited.
\
Page 30
-18-
22.
Give brief particulars of all options to purchase
securities (other than such as are granted or proposed
to be granted to shareholders as such on a pro rata
basis) outstanding or proposed to be given by the issuer
and its subsidiaries to any person or company, naming
each person or company and showing separately all such
options outstanding or proposed to be given to the
insiders of the issuer or its subsidiaries.
* * * * *
None.
23.
State the prices at which shares of the issuer have
been issued for cash during the past year. If any
shares have been issued for services state the nature
and value of the services and give the name and address
of the person or company who received such shares.
State the number of shares issued at each price.
No shares of the Corporation have been issued for cash during
the past year.
l
24.
Give the dates of and parties to and the general nature of
l
every material contract entered into by the issuer or
;.
any subsidiary within the preceding two years which is
1
still in effect and is not disclosed in the foregoing.
* * * * *
f
There are none.
Page 31
-19-
25.
Purchaser's Statutory Right of Withdrawal and Rescission.
A - RIGHT OF WITHDRAWAL
An agreement of purchase and sale covering any of the shares
hereby offered is not binding upon the purchaser if the Company
from whom the purchaser buys same receives written or tele
graphic notice evidencing the intention of the purchaser not
to be bound by the agreement not later than midnight of the
second day (exclusive of Saturdays, Sundays and holidays) after
receipt of the Statement of Material Facts of the Company;
provided the purchaser has not sold or transferred the said
shares, prior to the expiration of the said two-day period.
Receipt of the Statement of Material Facts by the agent of
the purchaser and receipt of the said notice by the agent for
the vendor of the said shares shall be receipt by the purchaser
and vendor respectively.
B - RIGHT OF RESCISSION
A purchaser of any of the shares hereby offered has a right to
rescind his contract to purchase while he is still the owner of
the said shares if the Statement of Material Facts of the Com
pany received by such purchaser as of the date of receipt
contains an untrue statement of a material fact or omits to
state a material fact necessary in order to make any statement
contained therein not misleading, provided, however, that such
right bf rescission will not apply;
(a)
if the untruth or fact of omission was unknown to the
underwriter and could not have been known in the
exercise of reasonable diligence;
(b)
if such statement or omission is disclosed in an
Amendment to this Statement of Material Facts and
same has been received by the purchaser;
(c)
if the purchaser knows the untruth of the statement
or knew of the omission at the time of purchase*
Receipt of a Statement of Material Facts by a party who is
acting as agent or who thereafter commences to act as agent of
the purchaser shall be receipt by the purchaser* No action
shall be commenced after the expiration of ninety days from
the last to occur of the receipt of the Statement of Material
Facts or the date of the contract.
The full text of the respective statutory provisions summarized
above is contained in Sections 64 and 65 of The Securities Act,
1966 (Ontario).
Page 32
-20-
26.
Give particulars of any other material facts relating
to the shares proposed to be offered and not disclosed
pursuant to the foregoing items.
* * * * *
There are no other material facts which are not disclosed in
the foregoing items.
Page 33
-21-
JELEX MINES LIMITED
REPORT AND FINANCIAL STATEMENTS
DECEMBER 31. 1973
WHICH. H lliH t UCGOvIK
Page 34
-22-
TELEPHONE; 44S-S2J2
WILSON, MAS1N (k McGOVERN
SUITE 202
HAROLD L. WILSON, C.A.
'
:
40 WYNFORO DRIVE
CHRIS P. MASIN, c.o.A.
-
DON MILLS.ONTARIO
ROSSA. MeGOVERN, C.A.
M3C |J6
SHELDON j. MCLAREN, c.A.
AUDITORS' REPORT
TO THE DIRECTORS
JELEX MINES LIMITED
We have examined the "balance sheet of JELEX MINES LIMITED as
at December 31, 1973, and the statements of deferred exploration ex
penditure and deferred administration expenditure for the year then
ended, and the statements of source and application of funds and
deficit for the five years ended December 31i 1973. Our examination
included a general review of the accounting procedures and such tests
of accounting records and other supporting evidence as- ve considered
necessary in the circumstances.
a
In our opinion:-
(a) The accompanying balance sheet presents fairly the financial
position'of the company as at December 31, 1973;
(b) The accompanying statements of deferred exploration expenditure
and deferred administration expenditure present fairly the
results of the company's operations for the year ended December
31, 1973;
(c) The accompanying statements of source and application of funds
and deficit present fairly the results of the company's
operations for the five years ended December 31, 1973;
in accordance vith generally accepted accounting principles applied on a
consistent basis.
WILSON, MASIN fc McGOVERN
Public Accountants.
Don Mills, Ontario.
March 8, 1971*.
Page 35
JELEX MINES LIMITED
(Incorporated under the laws of Ontario)
'BALANCE SHEET
'As at December 31, 1973
(With 1972 figures for comparison)
ASSETS
CURRENT
Cash
Accounts receivable
Marketable securities - at market value
(Cost $16,880)
Deposit
CLAIMS - (Note l)
PROSPECTING EQUIPMENT - at cost less accumulated
depreciation of $369 (1972 - $336)
INVESTMENT IN OTHER MINING COMPANIES - (Note 2)
DEFERRED EXPENDITURE
Exploration
Administration
1973
1972
*
31*9
!
1,369
7,200
1,275
10,193 ,
15,357
* 3,038
91*
12,875
5,100
21,107
15,001*
131
161*
18.582
16,896
83,907
80,733
51*, 1*1*0
1*7.591
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT
Accounts payable
SHAREHOLDERS' EQUITY
Capifal Stock
Authorized -
5,000,000 shares of.no par value
Issued and Fully Paid
3,192,500 shares for cash
300.000 shares for mining claims
3,1*92,500
#631,300
30,000
Deduct Deficit
12,515 $ 3,901*
661,300
1*91.205
170,095
661,300
1*83,709
177,591
$182,610 $l8l,l*95
The accompanying Notes are an integral part of these financial statements.
App
on behalf of the Board:-
Director.
Director.
Page 36
-24-
JELEX MINES LIMITED
STATEMENT OF DEFERRED EXPLORATION EXPENDITURE
For the year ended December 31*1973
GENERAL EXPLORATION, STAKING COSTS
AND PROPERTY EXAMINATIONS
Eastmain River Area, Quebec
'vUngava Area, Quebec
Patapedia Township, Quebec
Gays River Area, Nova Scotia
Long Lac Area, Ontario
General
Amounts
Balance at Expenditure Written Balance at
Jan*.l.1973 In 1973
Off
Dec.31.1973
$56.881*
23,133
716
500
1,000
671*
500
500
3,033
3,033
$57,38l*
21*,133
1,390
500
500
^80,733
$ 6,207
3,033 $83,907
STATEMENT OF DEFERRED ADMINISTRATION EXPENDITURE
For the year ended December 31. 1973
BALANCE AT JANUARY l, 1973
EXPENDITURE DURING THE YEAR
Directors' fees
Rent and office services
Le&ol and audit fees
Transfer Agency fees
Shareholders 1 reports
Toronto Stock Exchange fees
Annual filing fee
Capital and place of business tax
Other expense
300
3,000
1*00
1,1*00
1,353
200
10
113
73
6,81*9
BALANCE AT DECEMBER 31, 1973
$51*,1*1*0
wu.to* bum, *
Page 37
-25-
JELEX MINES LIMITED
STATEMENT OF DEFICIT
For the five years ended December 31. '1973
1973
1972
1971
1970
1969
Acquisition costs and exploration
expenditures on claims abandoned,
and general exploration
. $ 3,033 $
1*1 $ 22,03** $ 7,237 $103,1*12
Proportion of deferred administration
expenditure witten off
-
-
7,897
- 18,7^2
Participation ih mining syndicates
witten off
-
-
-
250
250
Net loss from sale of marketable
securities
813
2,6l5
-
. -
Net loss from change in market value
*
of marketable securities
3,100
-
3,679
- 31,866
Interest expense
328
62
2
13
2,1*92
Prospecting equipment written off
-
-
522
Acreage taxes - Long Lac claims
., 3**7
,3^7
g67
3^*7 . L 367
7,621 3,065 3l*,501 7,81*7 157,129
Deduct :
Dividends received
.
, , 125
796
i*,775
1,591
3,1*20
Interest received
-
27
602
617
Nominal value placed on 1,688 shares
of Nuvilik Mining Limited
L ' -
' -
-
l
Net profit from change in market value of
marketable securities
-
^,875
-
338
Net profit from sale of marketable
securities
-
-
-
-
7,529
Proceeds from sale of surface rights ____ ^ t ____ ^
2,080 ^ ___ ^ --- ___ -
125
5,698
7,1*57
2,51*7 10,91*9
,
7,1*96 (2,633) 27,01*1*
5.300 11*6,180
Deficit - January l
1*83.709 1*66.31*2 1*59.298 1*53,998 307.818
Deficit - December 31
$1*91,205 $1*83,709 $l*86,3l*2 $lt59,298 $l*53,998
M*HH ft M COO Vi PH
Page 38
-26-
JELEX MINES LIMITED
STATEMENT OF SOURCE AND APPLICATION OF FUNDS
For the five years ended December 31. 1973
SOURCE OF FUNDS: '
Issue of capital stock
Dividends and interest received
Proceeds on sale of surface rights
and sundry assets
Nominal value of shares of
Nuvilik Mining Limited
APPLICATION OF FUNDS:
Exploration expenditure
Less depreciation which did not
require an outlay of funds
Administration expenditure
Acquisition of mining claims
Participation in Joint exploration
expenditure
Net loss (profit) on sale of market
able securities and change in
market value
Investment in other Mining Companies
Interest expense
Acreage tax
DECREASE (INCREASE) IN WORKING
CAPITAL DURING THE YEAR
WORKING CAPITAL - JANUARY l
WORKING CAPITAL (DEFICIENCY)
DECEMBER 31
REPRESENTEDBY:-
Current Assets
Current Liabilities
1973
1972
U971
1970
1969
125
823
5,377
2,080
#125,000
2,208
3,1*20
125
823
7,457
2,209 128,420
6,207
33
6,171*
6,81*9
353
11,256
___1*1
11,215
6,022
3,913
1,686
328
31*7
(2,260)
7,556
62
-.3.1*7
8,815
51
8,761*
8,807
l
3,679
7,229
2
367
9,901*
1.038
8,866
8,91*6
M
250
(338)
2,109
13
31*7
1*1,022
605
1*0,1*17
21*,337
2.
250
21*,337
2,1*92
367
19,650 21*,91*2 28,61*9 20,193 92,202
19,525 21*,119 21,392 17,981* (36,218)
17.203
1*1.322
62.711*
80.698
Ut .480
(2,322) # 17,203 $ 41,322 * 62,714 $ 80,698
10,193 S 21,107 S 1*3,022 * 70,138 $ 82,381*
12.515
3.904
1.700
7.1*21*
1.686
(2,322) # 17,203 $ 1*1,322 * 62,7ll* $ 80,698
f; '
Page 39
f.' :-x
l' ' ' -'-
'
' '
. -27-
JELEX MINES LIMITED
NOTES TO'FINANCIAL STATEMENTS
December 31, 1973
1. MINING CLAIMS - at cost or where acquired by staking recorded at nominal value.
interest in 33 claims (subject to staker's interest) in
the Eastmain River Area, Quebec, acquired for cash and by
staking.
#15,001
25# interest in l, 1*50 claims and exploration Permit #Uo6 in
the Ungava Nickel Belt Area, New Quebec, acquired by staking
(subject to a 10# staker's interest)
l
10 Patented Claims in Thunder Bay Area, Ontario, recorded at
nominal value.
t
l
2/3 interest in 10 claims in Patapedia Township, Quebec, acquired
by staking.
l
805? interest in 172 claims with Gays River Area, Nova Scotia,
acquired for cash (See Note 3(a)),
185
interest in 137 claims in the Gays River Area, Nova Scotia,
acquired for cash (See Note 3(b)).
-
168
*15,357
2. INVESTMENT IN OTHER MINING COMPANIES
1,688 shares of Nuvilik Mining Limited - at nominal value
$
l
Advances to Nuvilik Mining Limited representing 25J& of
incorporation coste, special exoloration licence, annual
rentals, and costa of aerial and ground geophysical
surveys
.18.560
18,581
Shares in various other Mining Companies - at nominal
value
- l
.
,
$l8,582
3. WORKING OPTION
. ,
.
(a) The Company entered into an Agreement dated September l, 1973, vith
Imperial Oil Limited granting them a working option with respect to the
claims in Gays River Area, Under the terms of the Agreement Imperial
has the right to spend an aggregate sum of #200,000 on exploration during
the period ending April l, 1976, at a rate of not less than |25,000 ifi
each tvelve month period* Once the #200, 000 has been flpent, Imperial
will have acquired an undivided 60fl interest in the elaime.
(b) The Company entered into an Agreement dated November 28, 1973, with St.
Josephs Explorations Limited with respect to the 137 claims in the Gays
River Area. Under the terms of the Agreement, St. Josephs has com
mitted themselves to spend #25,000 by November 28, 197^ and has the
right to spend an aggregate sum of $200,000 on exploration by
October 31, 1978 to acquire an undivided 60# interest in the claims.
l*. EXECUTIVE REMUNERATION
The aggregate direct remuneration of the company's Officers and Directors during
the year amounted to $9>300.
5. SUBSEQUENT EVENTS
By an Agreement dated March 5, 1971*, the company appointed Hector M. Chisholm S: Co.
members of the Toronto Stock Exchange, its Agent to offer on a best efforts basis
a number of shares (not exceeding 500,000 shares) at a price to be determined so as
to provide the company with a minimum of #80,000 before Agents' commission which
will be at the normal Toronto Stock Exchange rates.
WU*Oh WMI* ft
Page 40
DATED this l j ' day of March, 1974.
The foregoing constitutes full, true and plain disclosure
of all material facts relating to the securities offered
by this Statement of Material Facts,
ELMORE M. DILLMAN
LLOYD SHIER
Chief Executive Officer
Chief Financial Officer
ON BEHALF OF THE BOARD OF DIRECTORS:
WILLIAM D. MacLEAN
C. B. WALLACE
Director
Director
To the best of our knowledge, information and belief, the
foregoing constitutes full, true and plain disclosure of
all material facts relating to the securities offered by
this Statement of Material Facts.
HECTOR M. CHISHOLM St CO. LIMITED
Per:
Goldstone Resources Exploration Update
TORONTO, ONTARIO--(Marketwire - May 13, 2010) -
Goldstone Resources Inc.
("Goldstone" or "the Company") (TSX:GRC)(PINK SHEETS:GRSZF)
is pleased to provide an update on our exploration efforts in
the Beardmore-Geraldton area of northern Ontario.
Following the merger of Ontex Resources and Roxmark Mines in
late 2009 to form Goldstone, a large geological and historical
production database has been examined to prioritize exploration
targets.
KEY LAKE, GERALDTON
The Key Lake property will be the focus of approximately 15,000m
of diamond drilling, scheduled to start on June 1st.
Historical drilling by Cyprus Amax and Placer Dome in the 80's
and 90's has outlined a 2.5 km long band of gold mineralization
that appears to have low grade open pit potential.
Goldstone plans to twin some of these historical holes and
systematically drill along the 2.5km strike length to explore
this potential.
This property is located approximately 14km west of
the Hardrock Project, where Premier Gold (in joint venture
with Goldstone) has announced impressive open pit and
underground results.
LEITCH-SAND RIVER MINE, BEARDMORE
In the Beardmore area, compilation and prioritization of targets
is ongoing.
Several promising areas with limited exploration on strike
from the high grade Leitch-Sand River mines will be the focus
of diamond drilling later in the fall.
Additional programs of ground geophysics, trenching and mapping
will be conducted on targets in the area that exhibit structural
and geological similarities to the historical high grade deposits.
Mike Kilbourne (P.Geo) is the Qualified Person for the information
contained in this press release, and is a Qualified Person within
the meaning of National Instrument 43-101.
About Goldstone
Formed by late 2009 merger of Ontex Resources and Roxmark Mines,
Goldstone Resources is a well funded gold exploration and
development company operating in the historically significant
Geraldton-Beardmore area of Northwestern Ontario and focused
on gold exploration and deposit delineation at its
Brookbank,
Northern Empire,
Leitch-Sand River and
Key Lake gold properties in the Beardmore Camp.
At a 3.4 g/t gold cut-off grade, drilling has established
1.36 million tonnes grading 9.7 g/t gold containing
424,400 ounces of indicated resource and 1.09 million tonnes
grading 7.9 g/t gold containing 276,600 ounces of
inferred resource at Brookbank.
(See National Instrument 43-101 technical report –"Technical
Report on the Brookbank Gold Deposit,
Beardmore – Geraldton Area, Northern Ontario, Canada"
by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR).
In addition, Goldstone has a 30% carried interest in
the Hardrock Project in the Geraldton Camp, a joint venture
with Premier Gold Limited, with Premier as operator.
Goldstone Resources Inc.
Further information is available on the Company's website at http://www.grcmines.com
and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
For more information, please contact
Goldstone Resources Inc.
J. Patrick Sheridan
President & Chief Executive Officer
(416) 864-6332
(416) 628-5935 (FAX)
http://www.grcmines.com
Click here to see all recent news from this company
http://www.marketwire.com/press-release/Goldstone-Resources-Exploration-Update-TSX-GRC-1259505.htm
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
RE:
KEY LAKE GOLD MINE, GERALDTON
The Key Lake property will be the focus of approximately 15,000m
of diamond drilling, scheduled to start on June 1st.
Historical drilling by Cyprus Amax and Placer Dome in the 80's
and 90's has outlined a 2.5 km long band of gold mineralization
that appears to have low grad eopen pit potential.
Goldstone plans to twin some of these historical holes and
systematically drill along the 2.5km strike length to explore
this potential.
This property is located approximately 14km west of
the Hardrock Project, where Premier Gold (in joint venture
with Goldstone) has announced impressive open pit and
underground results.
FYI; for your info, short snippet ex.
from past exploration and
developments:
On January 15, 1996
Cyprus Canada Inc. signed a Mining Venture Agreement with
Roxmark Mines Limited where by Cyprus may earn an interest in
the Roxmark property by completing a 32.0 million work expenditure
and making annual cash
payments totalling S250,000 by January 15, 2000.
Cyprus has the option to increase it's
interest , by agreeing to fund Roxmark's share of Exploration and
Development costs from the commencement of commercial production at
a rate of prime plus
20xk.
Underlying NSR's range between 2 and 3 percent.
The 115 claims comprising the property encompass
approximately 2,288 hectares in the Errington and Lindsley
townships in the Geraldton area of north-western Ontario
This is the html version of the file
http://www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/42E10NW0009//42E10NW0009.Pdf.
A short summary of previous exploration work conducted in
Lindsley and Errington townships is given below:
Lindsley Township:
1934:
Jelicoe Gold Mining Company acquired land to the west of the Bankfield
Mine, as well as land along the projected strike of a gold bearing zone
located at Magnet Lake. Stripping and diamond drilling revealed a
auriferous zone on present claim TB12406.
1936:
Jelicoe Consolidated Gold Mines Ltd. drilled 4,391 metres outlying a
small low-grade deposit on claim TB12149.
1937-1940: Jelcoe Mines (1939) Ltd. mines out the deposit.
1963:
Jelicoe Mines (1939) Ltd. changed its name to Jelex Mines Ltd.
1973:
Old mine records are re-examined. Ground magnetometer and V.L.F.
surveys were performed. Two diamond drill holes tested resulting
targets. No significant results were encountered
1978:
Jelex Mines Ltd. changed its name to Key Lake Explorations Ltd.
1982:
Dome Exploration Canada Ltd. options property.
100m interval grid was cut with ground magnetometer survey.
1983-1984: IP. and V.L.F. surveys were carried out over the property.
1983-1990: Placer Dome Inc. drilled 87 diamond drill holes outlining
a very low grade potential deposit.
1996:
Cyprus Canada Inc. drilled 13 diamond drill holes confirming the
grade deposit but the POG price of gold was going lower to 2001.
..corrections in the bull runs often gives good
buying opportunities
Great old goldy producers are my bargain play
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
Goldstone Resources Exploration Update
TORONTO, ONTARIO--(Marketwire - May 13, 2010) -
Goldstone Resources Inc.
("Goldstone" or "the Company") (TSX:GRC)(PINK SHEETS:GRSZF)
is pleased to provide an update on our exploration efforts in
the Beardmore-Geraldton area of northern Ontario.
Following the merger of Ontex Resources and Roxmark Mines in
late 2009 to form Goldstone, a large geological and historical
production database has been examined to prioritize exploration
targets.
KEY LAKE, GERALDTON
The Key Lake property will be the focus of approximately 15,000m
of diamond drilling, scheduled to start on June 1st.
Historical drilling by Cyprus Amax and Placer Dome in the 80's
and 90's has outlined a 2.5 km long band of gold mineralization
that appears to have low grade open pit potential.
Goldstone plans to twin some of these historical holes and
systematically drill along the 2.5km strike length to explore
this potential.
This property is located approximately 14km west of
the Hardrock Project, where Premier Gold (in joint venture
with Goldstone) has announced impressive open pit and
underground results.
LEITCH-SAND RIVER MINE, BEARDMORE
In the Beardmore area, compilation and prioritization of targets
is ongoing.
Several promising areas with limited exploration on strike from
the high grade Leitch-Sand River mines will be the focus of
diamond drilling later in the fall.
Additional programs of ground geophysics, trenching and mapping
will be conducted on targets in the area that exhibit structural
and geological similarities to the historical high grade deposits.
Mike Kilbourne (P.Geo) is the Qualified Person for the information contained in this press release, and is a Qualified Person within the meaning of National Instrument 43-101.
About Goldstone
Formed by late 2009 merger of Ontex Resources and Roxmark Mines,
Goldstone Resources is a well funded gold exploration and
development company operating in the historically significant
Geraldton-Beardmore area of Northwestern Ontario and focused
on gold exploration and deposit delineation at its
Brookbank,
Northern Empire,
Leitch-Sand River and
Key Lake gold properties in the Beardmore Camp.
At a 3.4 g/t gold cut-off grade, drilling has established
1.36 million tonnes grading 9.7 g/t gold containing
424,400 ounces of indicated resource and 1.09 million tonnes
grading 7.9 g/t gold containing 276,600 ounces of
inferred resource at Brookbank.
(See National Instrument 43-101 technical report –"Technical
Report on the Brookbank Gold Deposit,
Beardmore – Geraldton Area, Northern Ontario, Canada"
by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR).
In addition, Goldstone has a 30% carried interest in
the Hardrock Project in the Geraldton Camp, a joint venture
with Premier Gold Limited, with Premier as operator.
Goldstone Resources Inc.
Further information is available on the Company's website at http://www.grcmines.com
and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
For more information, please contact
Goldstone Resources Inc.
J. Patrick Sheridan
President & Chief Executive Officer
(416) 864-6332
(416) 628-5935 (FAX)
http://www.grcmines.com
Click here to see all recent news from this company
http://www.marketwire.com/press-release/Goldstone-Resources-Exploration-Update-TSX-GRC-1259505.htm
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
Goldstone Reports Encouraging Results From Preliminary Drilling at Leitch Gold Mine Property
http://www.marketwire.com/press-release/Goldstone-Reports-Encouraging-Results-From-Preliminary-Drilling-Leitch-Gold-Mine-Property-TSX-GRC-1112473.htm
Goldstone Appoints J. Patrick Sheridan as President -
TORONTO, ONTARIO--(Marketwire - May 7, 2010) -
Goldstone Resources Inc.
("Goldstone" or "the Company") (TSX:GRC - News; PINK SHEETS:GRSZF - News) announces that it has appointed J. Patrick Sheridan, current
Chief Executive Officer of the Company, to the additional position
of President of the Company, effective immediately.
Mr. Sheridan's appointment follows the departure of Monir Younan
as President of the Company. Mr. Younan is expected to provide
consultancy services during the coming year. Mr. Sheridan is
expected to serve as President of the Company
until a suitable replacement is appointed.
About Goldstone:
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines,
Goldstone is a well funded gold exploration and development company
operating in the historically significant Geraldton-Beardmore area
of Northwestern Ontario and focused on gold exploration and deposit
delineation at its
Brookbank,
Northern Empire,
Leitch-Sand River
and Key Lake gold properties
in the Geraldton-Beardmore Camp.
Further information is available on the Company's website at
http://www.grcmines.com
and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Contact:
J. Patrick Sheridan
Goldstone Resources Inc.
President & Chief Executive Officer
(416) 864-6332 begin_of_the_skype_highlighting (416) 864-6332 end_of_the_skype_highlighting begin_of_the_skype_highlighting (416) 864-6332 end_of_the_skype_highlighting
(416) 628-5935 (FAX)
http://www.grcmines.com
GOLDSTONE RESOURCES (TSE:GRC) Au spot price
well, its a start - $Gold signal LT bull run -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50033510
Gold Mining - GDXJ - Gold Juniors
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50033510
Something is up with the PPS - what?
The Leitch Gold Mine - Richest past Au producer in Canada -
(now on GRC (Roxmark land) was the # 1 of Ontario & Canada's
highest grade and most profitable Gold mines -
producing 860,648 ounces from 906,395 tons of ore
at an average recovered grade of 0.91 oz.Au/ton.
Even more impressively, the average recovered Gold grade -
over the last ten years of the mine’s Gold operation -
was 1.15 oz.Au/ton.
The Leitch Mine was once Canada's richest.
The Sand River/Leitch complex produced more than 900,000 ounces of gold.
Like other Roxmark mines in both Camps, it remains open at depth.
Leitch Mine
Mineral Development Home | History |
Current exploration | Data downloads
Owner:
Goldstone Res. (Roxmark Mines Ltd.)
Commodity:
Gold (Au)
Operation:
1936-1968
Ore mined:
920,745 tons
Gold produced:
847,690 oz. (24031588g*)
Recovered grade:
0.92 OPT** (31.5g/t***)
Mine type:
Underground Narrow vein Quartz
Mining method:
Resuing
Status of modeling:
Status:
Exploration for re-opening
* 1 Ounce = 28.3495 g
** OPT = Ounces per tonne
*** 1 OPT = 34.2818 g/t (g/t = grams per tonne)
dd....
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
http://www.grcmines.com/
http://www.goldstoneresourcesinc.com/
imo.
..the more the khazars 666banksters gangsters nss manipulate the $fiat lavatory conterfeits papers -
gold price and the great Au mines comp. like GRC -
the Higher we going to FLY
Alice, soon to the MOON
God Bless
GOLDSTONE RESOURCES PLANS AGGRESSIVE 2010 EXPLORATION PROGRAM
File Format: PDF/Adobe Acrobat -
8 Mar 2010 ... Goldstone Resources Inc. (TSX–GRC) (GRSZF-PK)
today announced an aggressive 2010 exploration program on
its 100%-owned properties - ...
http://www.goldstoneresourcesinc.com/documents/.../newsrel-2010_03_08-1.pdf
Big volume alert - signaling new uptrend.
GRC chart alert new bull start -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49460730
Goldstone Reports Expansion of NN Zone Mineralization at Hardrock Including 22.97 g/t Au Across 24.8 Metres
TORONTO, ONTARIO--(Marketwire - April 26, 2010) -
GOLDSTONE RESOURCES INC.
(TSX:GRC)(PINK SHEETS:GRSZF) is pleased to announce that drilling continues to expand near-surface mineralization at the Hardrock Project operated by Premier Gold Limited (TSX:PG) in Northwestern Ontario. Current drilling is targeting both open pit and underground style zones with the 2010 program aimed at increasing the current gold resource. Recent expansion drilling in the NN Zone has returned some of the best intersections to-date in this horizon including:
* 22.97 grams per tonne gold (g/t Au) across 24.8 metres (m) (0.67 oz/ton across 81.4 feet) contained within 43.3 m grading 13.42 g/t Au (0.39 oz/ton across 143.0 feet) in hole MM117
* 7.87 g/t Au across 19.8 m (or 0.23 oz/ton across 65.0 feet) in hole MM105
* 2.20 g/t Au across 41.4 m (0.06 oz/ton across 135.8 feet) in hole MM113
* 2.25 g/t Au across 24.5 m (0.07 oz/ton across 80.4 feet) in hole MM099
* High Grade intercepts up to 164.36 g/t Au across 3.3 m (4.80 oz/ton across 10.8 feet)
Drilling in the NN Zone continues to expand mineralization up-dip, down-dip and along strike. Mineralization in the main pit area, which includes the NN and EP Zones, has now been defined over a strike length of some 1.4 kilometres and remains open to the west. The NN Zone has the potential to host significant open-pit and underground style resources as further demonstrated by previously released intersections that include 6.42g/t Au across 22.4m (0.24 oz/ton across 73.5 feet) in hole MM040, 39.15g/t Au across 3.6m (1.14 oz/ton across 11.8 feet) in hole MM048 and 6.91 g/t Au across 18.7 m (0.20 oz/ton across 61.4 feet) in hole MM074.
"Drilling in the NN Zone continues to intersect some of the highest grade near-surface mineralization on the Property that could be mined by open pit methods in the early stages of potential operations at Hardrock" stated Ewan Downie, President of Premier. "These results bolster the significant resources already defined on the Property and demonstrate the excellent potential to materially increase resources in 2010".
The NN Zone is one of several potential open pit zones that comprise the "Main Area" at Hardrock that was subject to a NI43-101 compliant resource announced earlier in 2010. The expected future addition of the Kailey deposit, which is separate from the Main Area, and the current expansion drilling in the NN Zone continues to suggest the potential for the Hardrock Project to host a multi-million ounce gold resource.
The current drilling is focused on defining and expanding the limits of a large mineralized system within the NN Zone area of the Northern Iron Formation with two drill rigs. The plunge of the NN Zone is shallow to the west and it remains open for expansion. Recent drilling down dip continues to confirm wide zones of mineralization within the NN Zone. New drill results from the NN Zone are contained in Table 1.
Table 1 New NN Zone Intercepts from Hardrock
Hole-ID UTM Coordinates (m) Dip/Azimuth (degrees) From (m) To (m) Interval (m) Grade (g/tonne) Interval (ft) Grade (oz/ton) Zone
MM095 5503025 N 504299 E -45/360 11.4 12.2 0.8 10.20 2.6 0.30 NN
MM099 5502920 N 504249 E -46/360 136.0 160.5 24.5 2.25 80.4 0.07 NN
MM102 5502863 N 504301 E -45/360 209.0 211.0 2.0 4.12 6.6 0.12 NN
MM103 5502875 N 504145 E -45/360 162.0 163.0 1.0 4.06 3.3 0.12 NN
MM104 5502870 N 504097 E -45/360 162.0 165.0 3.0 7.40 9.8 0.22 UNN3
198.0 204.0 6.0 7.44 19.7 0.22 NN
MM105 5503009 N 504096 E -45/360 24.0 43.8 19.8 7.87 64.9 0.23 NN
MM108 5503001 N 504026 E -45/360 39.5 48.5 9.0 4.23 29.5 0.12 NN
MM110 5502980 N 503975 E -45/360 72.4 75.5 3.1 5.64 10.2 0.16 NN
MM113 5502946 N 503975 E -45/360 135.5 176.9 41.4 2.20 135.8 0.06 NN
including 135.5 139.0 3.5 9.99 11.5 0.29 NN
including 161.5 165.5 4.0 7.22 13.1 0.21 NN
MM115 55029690 N 503925 E -45/360 142.4 143.0 0.6 4.67 2.0 0.14 NN
MM117 5502860 N 504050 E -47/360 212.0 255.3 43.3 13.42 142.0 0.39 NN
including 230.5 255.3 24.8 22.97 81.3 0.67 NN
including 230.5 233.8 3.3 164.36 10.8 4.80 NN
282.7 301.5 18.8 2.34 61.7 0.07 NN
including 282.7 286.6 3.9 7.82 12.8 0.23 NN
True widths estimated at approximately 70% of intersection widths NN – New North Zone UNN – Upper NN Zone
Current drilling with 5 drill rigs is actively defining potential resources in several areas including:
*
Open pit-style mineralization at Main Area, Tenacity Zone, and the Kailey deposit. Hardrock's recent NI43-101 mineral resource estimates that, at a 0.60 g/t Au cut off, some 955,000 ounces Indicated and 645,000 ounces Inferred occur in near surface deposits potentially amenable to open pit mining. Premier believes these resources can be significantly expanded.
*
Narrow high-grade vein style targets have been identified including the HGN Zone where drilling in 2009 intersected bonanza-grade gold including 1,141.5 g/t Au across 2.0 m and 49.8 g/t Au across 6.0m. Additionally, recent drilling has made a new discovery, the 83 Zone, where early drilling suggests a significant zone with intersections that include 11.4 g/t Au across 2.4 m and 9.8 g/t Au across 5.0 m.;
*
Broad underground zones including the SP Zone where drilling in 2009 returned numerous intercepts including 6.6 g/t Au across 32.6 m and 9.7 g/t Au across 11.8 m. Ongoing drilling continues to expand this zone; and,
*
The main mined zones which remain open below the 600m Level. Recent drilling below the North Zone workings has returned numerous wide intercepts including 5.4 g/t Au across 57.1 m and 10.1 g/t Au across 24.2 m up to 100 metres below the bottom level. Recent drilling (assays pending) continues to intersect strong mineralization further down-plunge in this horizon.
The Hardrock Project is a joint venture with Premier Gold Mines Limited (TSX:PG) as operator in which Goldstone holds a 30% carried interest. The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold primarily from shallow depths within 600 metres of surface from 1938-1968. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property. A revised resource calculation is expected to be completed following the 2010 drill program containing both open pit and underground style resources.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone:
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore.
Further information is available on the Company's website at www.grcmines.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The statements made in 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 the Company's expectations and projections.
http://www.marketwire.com/press-release/Goldstone-Reports-Expansion-NN-Zone-Mineralization-Hardrock-Including-2297-g-t-Au-Across-TSX-GRC-1153639.htm
Welcome to Goldstone Resources Inc. new website -
http://www.grcmines.com/
Welcome to Goldstone Resources Inc. new website -
http://www.grcmines.com/
KING RABBIT welcome to Goldstone Res (TSE:GRC)(USD)$0.63 UP $0.01 (+1.61%
Bid 0.61
Ask 0.63
Volume 10,204
Days Range 0.61 - 0.63
Last Trade 4/23/2010 3:14:25 PM
Click for detailed quote page
Welcome to Goldstone Resources Inc. new website -
http://www.grcmines.com/
Goldstone Reports New Zones Discovered at Hardrock, Continued Success at Depth
9.3 g/t gold over 28.4 metres(0.27 oz/ton over 93.2 feet)
http://www.marketwire.com/press-release/Goldstone-Reports-New-Zones-Discovered-at-Hardrock-Continued-Success-at-Depth-TSX-GRC-1128288.htm
TORONTO, ONTARIO--(Marketwire - March 8, 2010) - Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) today announced that drilling at the Hardrock Project joint venture, with Premier Gold Mines Limited (TSX-PG) as operator, has discovered two new gold zones. The "83" and "93" Zones were discovered to the south of the main mined horizons in an area where no previous drilling had been completed.
Goldstone holds a 30% carried interest in the Hardrock Project, with Premier holding the balance.
Initial intersections include 9.78 grams per tonne gold (g/t Au) across 5.0 metres (m) (0.29 ounces per ton (oz/ton) across 16.4 feet) in the 83 Zone and 12.3 g/t Au across 4.0 m (0.36 oz/ton across 13.1 feet) in the 93 Zone.
In addition to the new discoveries, hole MM093 was extended to target other known horizons at depth, intersecting 9.28 g/t Au across 28.4 m (0.27 oz/ton across 93.2 feet) including 43.50 g/t Au across 3.0 m (1.27 oz/ton across 9.8 feet) down plunge from the historically mined F-Zone.
The new zones are within 200 m of surface, located west of, and to the south of, all previously mined zones at Hardrock. The "83 Zone" is located at a favourable porphyry-iron formation contact, similar to some of the main zones mined historically at the nearby Hardrock Mine including the "F Zone" from which approximately 1.4 million ounces of gold was mined. The "93 Zone" is located within the southern conglomerate suite of rocks and represents a new target area for the Property. Drilling to date suggests a strike length of some 200 metres and the zones remain wide open at depth.
"This new discovery, another addition beyond the discoveries amalgamated in the recent 43-101 report for near-surface discoveries at the Hardrock Project, bode well for the future of the Geraldton-Beardmore camp and for our 100%-owned properties," said J. Patrick Sheridan, Goldstone Chief Executive Officer. "We look forward to further results from the joint venture and from our own 2010 drilling program."
Owing to the continued success at Hardrock, additional drills have been added with five now active delineating this new discovery and expanding other mineralized zones on the Property.
Table 1 provides a summary of significant results from initial assays received from drilling at the new discovery.
Table 1 –Assay Results For 83 and 93 Zones
Hole-ID UTM Coordinates (m) Dip/
Azimuth (degrees) From
(m) To
(m) Inter-
val (m) Grade
(g/tonne) Inter-
val
(ft) Grade (oz/
ton) Zone
MM083 * 5502724 N 503300 E -66/360 60.2 61.5 1.3 2.36 4.3 0.07 93
255.7 258.1 2.4 11.43 7.9 0.33 83
MM093 5502754 N 503397 E -66/360 52.0 56.0 4.0 12.32 13.1 0.36 93
including 200.5 204.0 3.5 8.14 11.5 0.24 83
564.1 592.5 28.4 9.28 93.2 0.27 F
including 588.0 591.0 3.0 43.50 9.8 1.27 F
MM098 5502775 N 503400 E -65/360 5.5 10.0 4.5 1.67 14.8 0.05 93
171.0 176.0 5.0 9.78 16.4 0.29 83
True widths estimated at approximately 70% of the intersection width
* - Previously released hole
The Hardrock Project is host to several past-producing mines, which collectively produced nearly 3.0 million ounces of gold from depths within 600 metres of surface between 1938 and 1968. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through, or proximal to, the centre of the property. Significant potential exists for developing resources in several areas including: open pit-style mineralization; high-grade, narrow-vein targets, such as the new discoveries; and mineralization below the historically mined zones (below the 600m Level).
On March 4, 2010 Goldstone and Premier announced an initial resource, containing significant indicated and inferred resources for the near-surface (open pit style) zones at Hardrock based on drilling completed as of the end of 2009. The joint-venture expects to complete more that 70,000 metres of drilling in 2010 following which a revised resource will be completed for both the open pit and underground zones.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone:
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore before being shut down primarily as a result of a $35 gold price.
Further information is available on the Company's website at
http://www.goldstoneresourcesinc.com
and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
dayneyus how you doing -
still in GRSZF?
http://www.grcmines.com/leitch.php
http://www.grcmines.com/news/GSQ4AFPR.pdf
Goldstone next level -
http://www.grcmines.com/leitch.php
http://www.grcmines.com/news/GSQ4AFPR.pdf
..when people find out about gold
Bob, when is this stock going to get to the next level
Welcome to Goldstone Resources Inc. new website -
http://www.grcmines.com/
Goldstone Reports New Zones Discovered at Hardrock, Continued Success at Depth
9.3 g/t gold over 28.4 metres(0.27 oz/ton over 93.2 feet)
http://www.marketwire.com/press-release/Goldstone-Reports-New-Zones-Discovered-at-Hardrock-Continued-Success-at-Depth-TSX-GRC-1128288.htm
TORONTO, ONTARIO--(Marketwire - March 8, 2010) - Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) today announced that drilling at the Hardrock Project joint venture, with Premier Gold Mines Limited (TSX-PG) as operator, has discovered two new gold zones. The "83" and "93" Zones were discovered to the south of the main mined horizons in an area where no previous drilling had been completed.
Goldstone holds a 30% carried interest in the Hardrock Project, with Premier holding the balance.
Initial intersections include 9.78 grams per tonne gold (g/t Au) across 5.0 metres (m) (0.29 ounces per ton (oz/ton) across 16.4 feet) in the 83 Zone and 12.3 g/t Au across 4.0 m (0.36 oz/ton across 13.1 feet) in the 93 Zone.
In addition to the new discoveries, hole MM093 was extended to target other known horizons at depth, intersecting 9.28 g/t Au across 28.4 m (0.27 oz/ton across 93.2 feet) including 43.50 g/t Au across 3.0 m (1.27 oz/ton across 9.8 feet) down plunge from the historically mined F-Zone.
The new zones are within 200 m of surface, located west of, and to the south of, all previously mined zones at Hardrock. The "83 Zone" is located at a favourable porphyry-iron formation contact, similar to some of the main zones mined historically at the nearby Hardrock Mine including the "F Zone" from which approximately 1.4 million ounces of gold was mined. The "93 Zone" is located within the southern conglomerate suite of rocks and represents a new target area for the Property. Drilling to date suggests a strike length of some 200 metres and the zones remain wide open at depth.
"This new discovery, another addition beyond the discoveries amalgamated in the recent 43-101 report for near-surface discoveries at the Hardrock Project, bode well for the future of the Geraldton-Beardmore camp and for our 100%-owned properties," said J. Patrick Sheridan, Goldstone Chief Executive Officer. "We look forward to further results from the joint venture and from our own 2010 drilling program."
Owing to the continued success at Hardrock, additional drills have been added with five now active delineating this new discovery and expanding other mineralized zones on the Property.
Table 1 provides a summary of significant results from initial assays received from drilling at the new discovery.
Table 1 –Assay Results For 83 and 93 Zones
Hole-ID UTM Coordinates (m) Dip/
Azimuth (degrees) From
(m) To
(m) Inter-
val (m) Grade
(g/tonne) Inter-
val
(ft) Grade (oz/
ton) Zone
MM083 * 5502724 N 503300 E -66/360 60.2 61.5 1.3 2.36 4.3 0.07 93
255.7 258.1 2.4 11.43 7.9 0.33 83
MM093 5502754 N 503397 E -66/360 52.0 56.0 4.0 12.32 13.1 0.36 93
including 200.5 204.0 3.5 8.14 11.5 0.24 83
564.1 592.5 28.4 9.28 93.2 0.27 F
including 588.0 591.0 3.0 43.50 9.8 1.27 F
MM098 5502775 N 503400 E -65/360 5.5 10.0 4.5 1.67 14.8 0.05 93
171.0 176.0 5.0 9.78 16.4 0.29 83
True widths estimated at approximately 70% of the intersection width
* - Previously released hole
The Hardrock Project is host to several past-producing mines, which collectively produced nearly 3.0 million ounces of gold from depths within 600 metres of surface between 1938 and 1968. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through, or proximal to, the centre of the property. Significant potential exists for developing resources in several areas including: open pit-style mineralization; high-grade, narrow-vein targets, such as the new discoveries; and mineralization below the historically mined zones (below the 600m Level).
On March 4, 2010 Goldstone and Premier announced an initial resource, containing significant indicated and inferred resources for the near-surface (open pit style) zones at Hardrock based on drilling completed as of the end of 2009. The joint-venture expects to complete more that 70,000 metres of drilling in 2010 following which a revised resource will be completed for both the open pit and underground zones.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone:
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore before being shut down primarily as a result of a $35 gold price.
Further information is available on the Company's website at www.goldstoneresourcesinc.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Goldstone Resources Plans Aggressive 2010 Exploration Program -
http://finance.yahoo.com/news/Goldstone-Resources-Plans-iw-1664122675.html?x=0&.v=1
ORONTO, ONTARIO--(Marketwire - 03/08/10) - Goldstone Resources Inc. (TSX:GRC - News) (PINK SHEETS:GRSZF - News) today announced an aggressive 2010 exploration program on its 100%-owned properties - including Brookbank, Leitch-Sand River, Northern Empire and Key Lake - in the Geraldton-Beardmore Greenstone Belt in Northwestern Ontario.
In addition to extensive data evaluation and surface exploration across the area, Goldstone plans to carry out drilling on targets currently being identified from a review of historic records and correlation of recent drilling with analysis of the 2009 aeromagnetic survey results. A significant portion of this first phase of drilling will be directed at targets identified on the Leitch-Sand River property.
Operated continuously over a period of nearly 30 years and producing 861,980 oz with an average recovered grade of 0.92 ounces per ton, the Leitch Mine was shut down in 1965 as a result of $35 gold and boundary disputes which Goldstone eliminated by acquiring the neighbouring Sand River Mine.
Like other mines in the Geraldton-Beardmore Belt, The Leitch Mine was shallow by the standards of top producers in nearby camps and never ran out of gold at depth, with both ore grade and vein width increasing with depth. Also typically, existing historic resources were left in place within the workings when mine production ceased. For example, mine records of the time record several drill assays of more than two ounces per ton over two feet located 100 feet below the 30th level.
The Leitch-Sand River Property is located within seven kilometres of Goldstone's Northern Empire mill and contains several prime targets for additional exploration. The initial program will be directed to drill the #16 Vein System, the Creek Vein Zone, the Hanging Wall Vein No. 2 and other untested geophysical and geochemical targets.
Historical drilling in 1987 on the Creek Vein has outlined a strike length
exceeding 800 feet. Significant intersections are:
Hole 87-34 intersected 0.156 oz/t Au over 56.0 ft;
including intersection of 0.250 oz/t Au over 43.2 ft;
Hole 87-24 intersected 0.123 oz/t Au over 25.3 ft;
Hole 87-37 intersected 0.131 oz/t Au over 11.9 ft.
The #16 Vein system contains five areas of interest which were exposed on
surface and drilled to a shallow depth. Significant hole No. 16-12 returned
0.495 oz/t over 4.80 feet at a vertical depth of 50 feet below the surface.
Reconnaissance prospecting and geological mapping are being considered for other areas within the Brookbank property, located 11 km from Goldstone's fully permitted mill. Prime targets include the Hillside Showing, Oxaline Lake, Nordic Lake and Patter Lake. The Oxaline area is located east of Solomon's Pillars and was covered in Quantec's airborne geophysical survey. Gold mineralization within the Brookbank deposit was outlined in an NI 43-101 report issued in 2009. (See National Instrument 43-101 technical report -"Technical Report on the Brookbank Gold Deposit" by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR.) At a 3.4 g gold per tonne cut-off grade, with assays uncut, drilling has established 1.33 million tonnes grading 9.8 g gold per tonne containing 418,500 ounces of indicated resource and 1.09 million tonnes grading 8.0 g gold per tonne containing 260,000 ounces of inferred resource at Brookbank.
Additional studies will be carried out during the year to further expand the value of the Northern Empire mine and the Key Lake property. The Key Lake is located in Geraldton adjoining the Hardrock Project. The property contains the Jelex Mines and has an historical production of 5,675 oz of recovered gold from milling 14,722 tons with an average grade of 0.38oz/t. Placer Dome Canada and Cyprus Canada completed a drilling program in excess of 34,000 metres outlining an open pit-style mineralization. In 1998, S. E. Malouf Consulting Geologists calculated historical resources of 149,900 ozs of gold from 4,563,000 tons grading 0.03 oz/t Au.
Peter Bevan, P. Eng., consulting geologist, is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101.
"We have a large number of high grade potential targets on our 100%-owned properties," said J. Patrick Sheridan Jr., Goldstone CEO. "We are exhaustively analyzing databanks in order to prioritize these targets for the 2010 field program."
Goldstone also holds a 30 percent carried interest in the Hardrock Project, a joint venture in the Geraldton Camp with Premier Gold Mines Limited (TSX:PG - News). In 2009, more than 90,000 metres of drilling was completed at Hardrock, successfully identifying multiple gold zones.
As operator, Premier has also announced its intention to drill an additional 70,000 metres on Goldstone Properties in the Hardrock Project in 2010. Drilling will continue to focus on delineating both open pit and underground zones with the goal of identifying gold resources that can be advanced quickly toward development. An NI 43-101 compatible estimate for shallow gold resources discovered at the Hardrock Project is expected soon; a separate estimate for resources at deeper horizons will be released later in the year.
The Geraldton-Beardmore Greenstone Belt offers development advantages through the presence of existing infrastructure including the Trans-Canada Highway, Trans-Canada Pipeline, and the electric power grid-as well as above ground and underground mine workings.
About Goldstone:
Formed by a late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore before being shut down primarily as a result of a $35 gold price.
Further information is available on the Company's website at www.goldstoneresourcesinc.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Goldstone Resources Inc.
J. Patrick Sheridan, Jr.
Chief Executive Officer
(416) 628-5936
(416) 628-5935 (FAX)
www.goldstoneresourcesinc.com
This initial Mineral Resource estimate for the Hardrock Project
is the culmination of 12 months of aggressive exploration by
JV-partner Premier following more than 10 years of persistence
to acquire this under-appreciated asset.
In the first year of our major exploration initiative we have met
our two-year target in terms of near surface resources, reporting
a significant mineral resource in the upper range of
our 2009 guidance.
The integration of Kailey data will represent additional upside
to this estimate and will further underpin the value of
the Hardrock Property.
In 2010, a 70,000 metre drill program is underway to continue to
expand and upgrade both open pit and underground style targets
with the near-term goal of completing a preliminary assessment
to evaluate the economics of future mining at what is quite
likely one of Canada's fastest growing gold deposits."
http://www.goldstoneresourcesinc.com/index.php
http://investorshub.advfn.com/boards/board.aspx?board_id=1499
http://investorshub.advfn.com/boards/board.aspx?board_id=16133
Goldstone Reports Initial NI 43-101 Indicated and Inferred Mineral Resources at Hardrock
Highlights of the Hardrock Area Mineral Resource estimate include:
* Indicated Resources of 11.6 million tonnes at an average grade of 1.82 grams per tonne (g/t Au) (2.43 g/t Au uncut) hosting 675,000 ounces Au cut (905,000 ounces Au uncut).
* Inferred Resources of 7.3 million tonnes at an average grade of 1.81 g/t Au (3.52 g/t Au uncut) hosting 425,000 ounces Au cut (830,000 ounces Au uncut).
http://www.marketwire.com/press-release/Goldstone-Reports-Initial-NI-43-101-Indicated-Inferred-Mineral-Resources-Hardrock-TSX-GRC-1126819.htm
Kiwi
Premier Gold to showcase Hardrock resource in virtual reality lab at PDAC
cnwgroup
Press Release Source: Premier Gold Mines Limited On Tuesday March 2, 2010, 9:25 am EST
Shares Issued: 92,527,679
THUNDER BAY, ON, March 2 /CNW/ - Premier Gold Mines Limited (PG:TSX) is very pleased to announce that the Company will be participating at the Datamine 3D Virtual Reality (VR) Lab during the 2010 Prospectors and Developers Association of Canada (PDAC) Convention in Toronto.
Premier will be showcasing its initial NI 43-101 mineral resource estimate for the Company's Hardrock Project in this immersive, true 3D experience. The VR Lab will provide an ideal forum for interested parties to observe and better understand the significant upside potential this Project offers. The deposit model will highlight the results of the 2009 drill progam. Company representatives will unveil Premier's 2010 exploration program at Hardrock and profile key results from ongoing drilling.
The presentation will take place on Monday, March 8, 2010 with showings at 2:00 pm to 3:00 pm EST and again at 5:00 pm to 6:00 pm EST in Presentation Room 717A, South Building at the Metro Toronto Convention Centre. Space is limited and the Company is accepting expressions of interest to attend this event. Interested parties are requested to contact the company via email at info(at)premiergoldmines.com.
The company will also display drill core intercepts from
the Hardrock Project between Sunday, March 7th and Monday,
March 8th, 2010.
Core displayed will include the High Grade North Zone (HGN)
discovery intersection that assayed an impressive 1,141.5 g/t Au
across 2.0 metres (33.3 oz/ton across 6.6 feet) in addition
to core from current drilling.
Several representatives including members of Premier's Management Team
will be available to discuss the true potential of the Hardrock and
other Company projects.
The Hardrock Project is operated under a joint venture with Goldstone Resources Inc. (TSX:GRC - News; Premier owns a 70% interest in the project).
The Hardrock Project is host to several past-producing mines, which
collectively produced nearly 3.0 Million ounces of gold from depths
within 600 metres of surface between 1938 and 1968.
The Hardrock Project benefits from development advantages with the
Trans-Canada Highway, Trans-Canada Pipeline, and major power lines
running through the centre of the property.
At Hardrock, significant potential exists for developing resources in several areas including:
- Open pit-style mineralization in the main areas
including the nTenacity, EP, NN and Kailey Zones.
- Underground-style mineralization where drilling has returned numerous
significant intercepts;
- High-grade, narrow-vein targets, including the HGN discovery, which
include appreciable visible gold;
- Historical (non NI 43-101 compliant) resource blocks that reside
within the mine workings;
and,
- The main mined zones which are open below the 600m Level as confirmed
by recently released holes MM050, MM079 and MM092.
Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, an affiliate of Goldcorp Inc., and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a strategic project located on the main Musselwhite Gold Mine trend.
The statements made in 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 the Company's expectations and projections.
For further information
Ewan Downie, President & CEO, Phone: (807) 346-1390, Fax: (807) 346-0100, e-mail: Info@premiergoldmines.com, Web Site: www.premiergoldmines.com
PM hard-rock safety
http://www.goldstoneresourcesinc.com/
http://www.roxmark.com/
http://www.ontexresources.com/
God Bless
Goldstone (formerly Roxmark) Reports Best Intercept To-Date From Deep Drilling at Hardrock Project
~ 5.37 g/t (0.16 oz/t) gold across 57.1m (187.3 feet) ~
http://finance.yahoo.com/news/Goldstone-Reports-Best-ccn-2217971160.html?x=0&.v=1
Monday February 22, 2010, 11:33 am EST
TORONTO, ONTARIO--(Marketwire - Feb. 22, 2010) -
Goldstone Resources -
(TSX:GRC; PINK SHEETS:GRSZF ) today announced that deep step-out drilling at the Hardrock Project, including the deepest hole ever drilled to test the North Zone horizon, has returned multiple zones of gold mineralization including the best intercept drilled to date.
The Hardrock Project -
is a joint venture with Premier Gold Mines Limited (TSX:PG - News)
as operator in which Goldstone holds a 30% carried interest.
Drilling there continues to define high-grade gold within several
sub-zones within the main North Zone below the bottom level which was
historically mined.
Drill Hole MM092, representing the initial hole from which additional wedge holes will be drilled, and hole MM092A (the first wedge hole) have intersected multiple lenses of gold mineralization.
Combined the three zones assayed 5.37 grams per tonne gold (g/t Au) across 57.1 metres (m) or 0.16 oz/ton across 187.3 feet, with sub-zone intervals that include 7.79 g/t Au (0.23 oz/ton) across 13.9 m (45.6 feet), 8.92 g/t Au (0.26 oz/ton) across 6.0 m (19.7 feet) and 7.56 g/t Au (0.22 oz/ton) across 16.0 m (52.5 feet).
MM092A intersected multiple zones including 7.59 g/t Au (0.22 oz/ton) across 23.3 m (76.4 feet) with a higher grade interval of 11.36 g/t Au (0.33 oz/ton) across 9.4 m (30.8 feet).
This drilling tested the North Zone deeper and along strike from initial deep drilling that returned multiple high-grade intersections that include 39.20 g/t Au across 4.8 m, 8.41 g/t Au across 22.9 m and 10.05 g/t Au across 24.2 m, further confirming that the North Zone is wide open for expansion at depth.
"We are pleased with continuing excellent results at the Hardrock Project," said J. Patrick Sheridan, Goldstone Chief Executive Officer. "They are a strong evidence to support our longstanding belief that the Beardmore-Geraldton camp is underexplored."
The first seven holes drilled by Premier to test the down-dip potential of the mined portion of the North Zone have all intersected multiple zones of gold mineralization up to 125 metres below the bottom mine level and are profiled on longitudinal section in Figure 1.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/hardrockprojectFig1.pdf
The North Zone was previously mined to a depth of 616 metres (2,022 feet) with production of three (3) million tons at a recovered grade of 0.22 oz/ton (7.54g/t Au). The North Zone had been mined along a total plunge length of one kilometre (km) and mineralization has now been extended another 250 m along that plunge below the bottom of the McLeod Mine. For comparison, the F Zone is also open at depth and is indicated in mining and historic underground drilling for over 3.5 km along its plunge
Table 1 summarizes the gold intercepts in holes MM092 and 92A in addition to previously announced results from the first section drilled some 50 metres to the east:
Table 1 - Detailed Results of Deep North Zone Drilling
(click on link at bottom to view Table 1)
Four drills are currently active at Hardrock, testing both open pit and underground type targets. Several potential open pit zones have been delineated and will be included into a NI43-101 compliant resource estimate that is expected to be completed in the near future (initial open pit resource). Drilling will continue to expand the open pit zones and delineate underground-style zones of mineralization that will be included in an updated resource at the end of the 2010 drill program.
At Hardrock, significant potential exists for developing resources in several areas including:
-- Open pit-style mineralization in the main areas, the Tenacity, EP
(includes NN) and Kailey Zones. Significant results to-date include
15.97g/t Au across 32.1 m and 4.13g/t Au across 18.9 m in the Tenacity
Zone, 5.2g/t Au across 37.0 m and 19.0g/t Au across 11.3 m in the EP
Zone, 6.4g/t Au across 22.4 m and 52.9g/t Au across 7.9 m in the NN
Zone, and 1.47 g/t Au across 162.0 m and 2.16g/t Au across 92.2 m in the
Kailey Zone;
-- Underground-style mineralization in the SP Zone where drilling has
returned numerous significant intercepts including 6.6g/t Au across 32.6
m and 9.7g/t Au across 11.8 m;
-- New high-grade, narrow-vein targets, including the HGN discovery where
recent drilling has intersected significant visible gold with intercepts
that include 1,141.5g/t Au (33.3 oz/ton) across 2.0 m and 49.8g/t Au
across 6.0 m, and potentially three new recently intersected zones where
assays are pending;
-- Historical (non NI 43-101 compliant) resource blocks that reside within
the mine workings; and
-- Main mined zones which are open below the 600m Level as tested by holes
MM050, MM079 and MM092.
The Hardrock Project is host to several past-producing mines, which collectively produced nearly 3.0 million ounces of gold primarily from shallow depths within 600 metres of surface between 1938-1968. The area benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone:
Formed by late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold.
At a 3.4 g gold per tonne cut-off grade, with assays uncut, drilling has established 1.33 million tonnes grading 9.8 g gold per tonne containing 418,500 ounces of indicated resource and 1.09 million tonnes grading 8.0 g gold per tonne containing 260,000 ounces of inferred resource at Brookbank. (See National Instrument 43-101 technical report -"Technical Report on the Brookbank Gold Deposit, Beardmore-Geraldton Area, Northern Ontario, Canada" by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR.)
In addition, Goldstone has a 30% carried interest in the Hardrock Project in the Geraldton area, a joint venture with Premier Gold Limited, with Premier as operator. NI 43-101 resource estimates for both open pit and underground resources at the Hardrock Project are expected in 2010. Both Goldstone and Premier will be mounting aggressive exploration programs over the coming year.
Further information is available on the Company's website at http://www.goldstoneresourcesinc.com/
and on SEDAR under the Company's profile at
http://www.sedar.com/.
http://finance.yahoo.com/news/Goldstone-Reports-Best-ccn-2217971160.html?x=0&.v=1
Goldstone Reports 5.37 g/t (0.16 oz/t) gold across 57.1m (187.3 feet)Best Intercept To-Date From Deep Drilling at Hardrock Project
~ 5.37 g/t (0.16 oz/t) gold across 57.1m (187.3 feet) ~
Press Release Source: Goldstone Resources Inc. On Monday February 22, 2010, 11:33 am EST
TORONTO, ONTARIO--(Marketwire - Feb. 22, 2010) -
Goldstone Resources Inc.
(TSX:GRC - News; PINK SHEETS:GRSZF - News) today announced that deep step-out drilling at the Hardrock Project, including the deepest hole ever drilled to test the North Zone horizon, has returned multiple zones of gold mineralization including the best intercept drilled to date.
The Hardrock Project is a joint venture with Premier Gold Mines Limited (TSX:PG - News) as operator in which Goldstone holds a 30% carried interest. Drilling there continues to define high-grade gold within several sub-zones within the main North Zone below the bottom level which was historically mined.
Drill Hole MM092, representing the initial hole from which additional wedge holes will be drilled, and hole MM092A (the first wedge hole) have intersected multiple lenses of gold mineralization. Combined the three zones assayed 5.37 grams per tonne gold (g/t Au) across 57.1 metres (m) or 0.16 oz/ton across 187.3 feet, with sub-zone intervals that include 7.79 g/t Au (0.23 oz/ton) across 13.9 m (45.6 feet), 8.92 g/t Au (0.26 oz/ton) across 6.0 m (19.7 feet) and 7.56 g/t Au (0.22 oz/ton) across 16.0 m (52.5 feet). MM092A intersected multiple zones including 7.59 g/t Au (0.22 oz/ton) across 23.3 m (76.4 feet) with a higher grade interval of 11.36 g/t Au (0.33 oz/ton) across 9.4 m (30.8 feet). This drilling tested the North Zone deeper and along strike from initial deep drilling that returned multiple high-grade intersections that include 39.20 g/t Au across 4.8 m, 8.41 g/t Au across 22.9 m and 10.05 g/t Au across 24.2 m, further confirming that the North Zone is wide open for expansion at depth.
"We are pleased with continuing excellent results at the Hardrock Project," said J. Patrick Sheridan, Goldstone Chief Executive Officer. "They are a strong evidence to support our longstanding belief that the Beardmore-Geraldton camp is underexplored."
The first seven holes drilled by Premier to test the down-dip potential of the mined portion of the North Zone have all intersected multiple zones of gold mineralization up to 125 metres below the bottom mine level and are profiled on longitudinal section in Figure 1.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/hardrockprojectFig1.pdf
The North Zone was previously mined to a depth of 616 metres (2,022 feet) with production of three (3) million tons at a recovered grade of 0.22 oz/ton (7.54g/t Au). The North Zone had been mined along a total plunge length of one kilometre (km) and mineralization has now been extended another 250 m along that plunge below the bottom of the McLeod Mine. For comparison, the F Zone is also open at depth and is indicated in mining and historic underground drilling for over 3.5 km along its plunge
Table 1 summarizes the gold intercepts in holes MM092 and 92A in addition to previously announced results from the first section drilled some 50 metres to the east:
Table 1 - Detailed Results of Deep North Zone Drilling
----------------------------------------------------------------------------
UTM Dip/
Coord- Azimuth From Inter- Grade Inter- Grade
Hole-ID inates (degrees) (m) To val (g/ val (oz/ Zone
(m) (m) (m) tonne) (ft) ton)
----------------------------------------------------------------------------
662.7 667.5 4.8 39.20 15.7 1.14 North A
---------------------------------------------------
681.0 684.0 3.0 3.64 9.8 0.11 North A
5503375E ---------------------------------------------------
MM050(i) 503714N -73/180 703.9 710.8 6.9 4.03 22.6 0.12 North B
---------- ---------------------------------------------------
including 703.9 706.5 2.6 7.90 8.5 0.23 North B
---------------------------------------------------
742.5 744.0 1.5 3.06 4.9 0.09 North D
----------------------------------------------------------------------------
651.4 654.7 3.3 18.86 10.8 0.55 North A
MM050A(i)5503375E ---------------------------------------------------
(wedge 503714N -73/180 667.5 669.8 2.3 2.58 7.5 0.08 North B
hole) ---------------------------------------------------
767.5 768.5 1.0 5.46 3.3 0.16 North D
---------------------------------------------------
737.5 739.0 1.5 3.63 4.9 0.11 North C
----------------------------------------------------------------------------
716.0 717.0 1.0 21.30 3.3 0.62 North A
---------------------------------------------------
728.0 729.4 1.4 7.58 4.6 0.22 North B
5503376E ---------------------------------------------------
MM079(i) 503714N -78/180 740.0 743.7 3.7 7.79 12.1 0.23 North C
---------------------------------------------------
767.0 768.5 1.5 6.55 4.9 0.19 North D
---------------------------------------------------
782.5 784.0 1.5 21.90 4.9 0.64 North E
----------------------------------------------------------------------------
MM079A(i) 5503376E
(wedge 503714N -78/180 676.6 699.5 22.9 8.41 75.1 0.25 North A
hole)
---------------------------------------------------
including 687.4 695.5 8.1 15.95 26.6 0.47 North A
---------------------------------------------------
714.6 727.0 12.4 5.66 40.7 0.17 North B
---------------------------------------------------
733.0 746.0 13.0 3.68 42.6 0.11 North C
---------- ---------------------------------------------------
including 741.7 743.2 1.5 10.70 4.9 0.31 North C
---------------------------------------------------
759.0 760.5 1.5 5.17 4.9 0.15 North D
----------------------------------------------------------------------------
MM079B(i)
(wedge 679.1 703.3 24.2 10.05 79.4 0.29 North A
hole)
---------------------------------------------------
including 679.1 681.3 2.2 39.69 7.2 1.16 North A
5503376E ---------------------------------------------------
including 503714N -78/180 697.0 700.5 3.5 18.73 11.5 0.55 North A
---------------------------------------------------
712.5 717.2 4.7 4.79 15.4 0.14 North B
---------------------------------------------------
727.5 729.0 1.5 3.83 4.92 0.11 North C
---------------------------------------------------
751.5 753 1.5 2.62 4.92 0.08 North D
----------------------------------------------------------------------------
MM092 719.6 776.7 57.1 5.37 187.3 0.16 North
---------------------------------------------------
including 719.6 733.5 13.9 7.79 45.6 0.23 North A
503650E ---------------------------------------------------
including 5503375N -78/180 744.0 750.0 6.0 8.92 19.7 0.26 North B
---------------------------------------------------
including 760.7 776.7 16.0 7.56 52.5 0.22 North C
---------------------------------------------------
783 784.5 1.5 7.62 4.9 0.22 North D
----------------------------------------------------------------------------
MM092A
(wedge 712.7 736.0 23.3 7.59 76.4 0.22 North A
hole)
---------------------------------------------------
including 712.7 722.1 9.4 11.36 30.8 0.33 North A
---------------------------------------------------
742.9 754.8 11.9 8.71 39.0 0.25 North B
503650E ---------------------------------------------------
including 5503375N -78/180 742.9 748.8 5.9 13.58 19.4 0.40 North B
---------------------------------------------------
759.5 762.0 2.5 12.52 8.2 0.37 North C
---------------------------------------------------
770.9 774.1 3.2 8.84 10.5 0.26 North D
---------------------------------------------------
778.0 783.0 5.0 5.13 16.4 0.15 North E
----------------------------------------------------------------------------
(i) Previously Released - True widths estimated at 50-70% of intersection
widths
Four drills are currently active at Hardrock, testing both open pit and underground type targets. Several potential open pit zones have been delineated and will be included into a NI43-101 compliant resource estimate that is expected to be completed in the near future (initial open pit resource). Drilling will continue to expand the open pit zones and delineate underground-style zones of mineralization that will be included in an updated resource at the end of the 2010 drill program.
At Hardrock, significant potential exists for developing resources in several areas including:
-- Open pit-style mineralization in the main areas, the Tenacity, EP
(includes NN) and Kailey Zones. Significant results to-date include
15.97g/t Au across 32.1 m and 4.13g/t Au across 18.9 m in the Tenacity
Zone, 5.2g/t Au across 37.0 m and 19.0g/t Au across 11.3 m in the EP
Zone, 6.4g/t Au across 22.4 m and 52.9g/t Au across 7.9 m in the NN
Zone, and 1.47 g/t Au across 162.0 m and 2.16g/t Au across 92.2 m in the
Kailey Zone;
-- Underground-style mineralization in the SP Zone where drilling has
returned numerous significant intercepts including 6.6g/t Au across 32.6
m and 9.7g/t Au across 11.8 m;
-- New high-grade, narrow-vein targets, including the HGN discovery where
recent drilling has intersected significant visible gold with intercepts
that include 1,141.5g/t Au (33.3 oz/ton) across 2.0 m and 49.8g/t Au
across 6.0 m, and potentially three new recently intersected zones where
assays are pending;
-- Historical (non NI 43-101 compliant) resource blocks that reside within
the mine workings; and
-- Main mined zones which are open below the 600m Level as tested by holes
MM050, MM079 and MM092.
The Hardrock Project is host to several past-producing mines, which collectively produced nearly 3.0 million ounces of gold primarily from shallow depths within 600 metres of surface between 1938-1968. The area benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.
About Goldstone:
Formed by late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Geraldton-Beardmore Camp. The Camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold.
At a 3.4 g gold per tonne cut-off grade, with assays uncut, drilling has established 1.33 million tonnes grading 9.8 g gold per tonne containing 418,500 ounces of indicated resource and 1.09 million tonnes grading 8.0 g gold per tonne containing 260,000 ounces of inferred resource at Brookbank. (See National Instrument 43-101 technical report -"Technical Report on the Brookbank Gold Deposit, Beardmore-Geraldton Area, Northern Ontario, Canada" by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR.)
In addition, Goldstone has a 30% carried interest in the Hardrock Project in the Geraldton area, a joint venture with Premier Gold Limited, with Premier as operator. NI 43-101 resource estimates for both open pit and underground resources at the Hardrock Project are expected in 2010. Both Goldstone and Premier will be mounting aggressive exploration programs over the coming year.
Further information is available on the Company's website at www.goldstoneresourcesinc.com and on SEDAR under the Company's profile at www.sedar.com.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact:
J. Patrick Sheridan, Jr.
Goldstone Resources Inc.
Chief Executive Officer
(416) 864-6332
(416) 628-5935 (FAX)
Thanks NYBob you are now assisting!
NYBob how do I switch the blog to the new symbol?
Goldstone (formerly Roxmark) Updates Hardrock Project Exploration Program
On Tuesday January 12, 2010, 2:37 pm EST
http://finance.yahoo.com/news/Goldstone-Updates-Hardrock-ccn-4015895104.html?x=0&.v=1
TORONTO, ONTARIO--(Marketwire - 01/12/10) - Goldstone Resources Inc.
(TSX:GRC - News)(PINK SHEETS:GRSZ - News) today provided an update
of exploration program plans for the Hardrock Project by
Premier Gold Limited (TSX:PG - News) as operator,
building on 2009 successes.
Goldstone holds a 30 percent carried interest in the Hardrock Project,
a joint venture with Premier in the Geraldton Camp of the Beardmore-
Geraldton Greenstone Belt, through its wholly-owned subsidiary
Roxmark Mines Limited.
In 2010, The Hardrock Project will remain Premier's most active area
of involvement with more than 70,000 metres of drilling planned.
Last year, more than 90,000 metres of drilling was completed at
Hardrock, successfully identifying multiple open pit and
underground style gold zones, with the following highlights:
-- Discovery of the High Grade North Zone: 1,141.5 g/t Au across 2.0 metres
(33.3 oz/ton across 6.6 feet);
-- Defining The EP (open pit) Zone over a strike length of more than one
kilometre and open for expansion;
-- Discovery of the NN Zone (open pit) along strike from EP. Recent drill
intersections that define this zone include 6.91 g/t Au across 18.7 m
(0.20 oz/ton across 61.3 feet), 5.69 g/t Au across 24.2 m (0.17 oz/ton
across 79.4 feet) and 52.90 g/t Au across 7.9 m (1.54 oz/ton across 25.9
feet); and
-- Achieving high-grade results, including 121.00 g/t Au across 1.5 m (3.53
oz/ton across 4.9 feet), from initial drilling in a new target area late
in the year.
"We are very pleased with the magnitude and intensity of the planned program which will add significant value to the camp," said Patrick Sheridan, Jr., Goldstone's Chief Executive Officer. "In 2010, Goldstone is also planning an aggressive program for its 100%-owned properties in the Beardmore camp, which include the Leitch-Sand River, Northern Empire and Brookbank."
The Hardrock Project is host to several past-producing mines which collectively produced more than 3.0 million ounces of gold, primarily from shallow depths within 2,000 feet (600 metres) of surface. The mined zones remained wide open at depth at the time mining ceased and resources were left in place within the existing mine workings. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the centre of the property. Drilling is focused on confirming both open pit and underground mineralization with the goal of identifying a potentially multi-million ounce gold resource that can be moved quickly towards development. The Project offers development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the centre of the property.
Significant potential for developing resources has been identified in several areas including:
1) Open pit-style mineralization proximal to the main zones previously mined by underground methods;
2) Discoveries including bonanza-style gold zones;
3) Down-plunge of historically mined zones including the SP and North Zones; and,
4) Mineralization along strike from historically mined zones in the NN and North Zone areas.
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101.
About Goldstone
Formed by late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Beardmore Camp. At a 3.4 g/t gold cut-off grade, drilling has established 1.36 million tonnes grading 9.7 g/t gold containing 424,400 ounces of indicated resource and 1.09 million tonnes grading 7.9 g/t gold containing 276,600 ounces of inferred resource at Brookbank. (See National Instrument 43-101 technical report -"Technical Report on the Brookbank Gold Deposit, Beardmore - Geraldton Area, Northern Ontario, Canada" by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR.
In addition, Goldstone has a 30% carried interest in the Hardrock Project in the Geraldton Camp, a joint venture with Premier Gold Limited, with Premier as operator. Both Goldstone and Premier plan to mount major exploration programs on Goldstone land in 2010.
Further information is available on the Company's website at http://www.goldstoneresourcesinc.com/ and on SEDAR under the Company's profile at http://www.sedar.com/.
http://finance.yahoo.com/news/Goldstone-Updates-Hardrock-iw-1273361630.html?x=0&.v=1
Thanks NYBob Happy New Year!
GOLDSTONE RESOURCES (Other OTC: GRSZF.PK)
http://finance.yahoo.com/q?s=grszf.pk
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=grszf#getQuote
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=grszf#getCompanyInfo
Happy New Year
Ontex Resources Limited and Roxmark Mines Limited Finalize Merger
to Form Goldstone Resources Inc.
Posted by: NYBob Date: Tuesday, December 22, 2009 2:10:07 PM
In reply to: dayneyus who wrote msg# 38 Post # of 42
Ontex Resources Limited and Roxmark Mines Limited Finalize Merger
to Form Goldstone Resources Inc.
marketwire
*Companies:
o Ontex Resources Com Npv
o Roxmark Mines Limited (Tier2)
Related Quotes
Symbol Price Change
ONT.TO 0.2750 +0.0150
Chart for ONTEX RESOURCES COM NPV
Press Release Source: Ontex Resources Limited and Roxmark Mines Limited On Tuesday December 22, 2009, 9:21 am EST
TORONTO, ONTARIO--(Marketwire - 12/22/09) -
Ontex Resources Limited -
("Ontex") (TSX:ONT - News) and
Roxmark Mines Limited -
("Roxmark") (TSX-V:RMK - News) announced today that they have
combined to form
Goldstone Resources Inc.
("Goldstone"),
a well-positioned exploration company with an extensive property portfolio in the prolific Beardmore-Geraldton Greenstone gold belt. Effective today, the companies' previously announced, proposed merger (the "Transaction") was completed, with Roxmark continuing as a wholly-owned subsidiary of Goldstone.
Pursuant to the Transaction, Ontex also consolidated its common shares on the basis of one post-consolidation share for every three pre-consolidation shares and changed its name to Goldstone while Roxmark amalgamated with a wholly-owned subsidiary of Ontex.
Trading in Roxmark's common shares will be halted on the TSX Venture Exchange (the "TSXV") and its shares are expected to be formally delisted from the TSXV shortly. Goldstone's common shares are expected to commence trading on a consolidated basis on the Toronto Stock
Exchange under Goldstone's new symbol (GRC) on December 24, 2009.
"We are extremely appreciative of the strong support we received from our shareholders in completing this transaction," says J. Patrick Sheridan, Jr., Chief Executive Officer of Goldstone. "We look forward to pursuing a systematic and aggressive exploration program and continuing to build shareholder value."
Pursuant to the Transaction, Roxmark shareholders are receiving one post-consolidation Goldstone common share in exchange for each 3.75 common shares of Roxmark.
Former Roxmark shareholders can obtain certificates for their Goldstone shares by returning their Roxmark share certificates to Equity Transfer & Trust Company in accordance with the instructions set out in the joint information circular dated November 18, 2009 and letter of transmittal mailed to shareholders.
Upon completion of the Transaction and the share consolidation, Goldstone has 98,114,593 common shares issued and outstanding and approximately 108,475,933 common shares on a fully diluted basis.
Board and Management
Goldstone's management is comprised of Gary Conn, Chairman, Chief Operating Officer and Treasurer, J. Patrick Sheridan, Jr., Chief Executive Officer, Monir Younan, President, and George Harrison, Chief Financial Officer. Mr. Younan, former President and Chief Executive Officer of Roxmark, was appointed President of Goldstone, effective with the completion of the Transaction.
Joining Ontex directors Gary Conn, J. Patrick Sheridan, Jr. and Alan Ferry on the company's expanded board are Philip Cunningham, Jeffery Elliott and James Richardson, former Roxmark directors, and Richard Williams. The new directors were elected to the board, effective upon completion of the Transaction, at the recent Ontex special shareholders meeting.
Goldstone would like to thank its outgoing board members Denis Crane and Rob Montemarano for their valuable and dedicated service to the company and Roxmark would like to acknowledge the efforts and contributions of its outgoing director Thomas Atkins.
Goldstone Highlights
The Transaction is expected to provide significant benefits for shareholders of Goldstone, including:
- consolidation of properties in the prolific Beardmore-Geraldton camp, pooling of gold resources, and significant synergies in exploration and development;
- greater market presence;
- diversification of risk;
- a combined board of directors and management team, drawing on the strengths of each company;
- enhanced liquidity, capital market profile and financial strength in challenging times;
- operating efficiencies leading to significant cost reductions;
- a strong position from which to participate in the anticipated future consolidation in the Canadian gold industry; and
- access to Roxmark's Northern Empire Mill Complex.
About Goldstone
Goldstone is a gold exploration and development company operating in
the historically significant Geraldton-Beardmore area.
Goldstone is focused on gold exploration and deposit delineation at
its Brookbank,
Northern Empire,
Leitch-Sand River
and Key Lake gold properties
in the Beardmore Camp in northern Ontario.
In addition, Goldstone owns a 30% carried interest in
the Hardrock Project,
a joint venture with Premier Gold Mines Limited in the Geraldton Camp.
The Brookbank mineral resources at a 3.4 g/t gold cut-off grade
stands at 1.36 million tonnes grading 9.7 g/t gold
containing 424,400 ounces of Indicated resource
and 1.09 million tonnes grading 7.9 g/t gold
containing 276,600 ounces of Inferred resource.
(See National Instrument 43-101 technical report -
"Technical Report on the Brookbank Gold Deposit, Beardmore -
Geraldton Area, Northern Ontario, Canada"
by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR.)
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities laws. Forward-looking information is not comprised of historical facts and includes, but is not limited to, information concerning the merger between Goldstone and Roxmark, the expected benefits of such merger as well as the expected timing of the commencement of trading of Goldstone shares on a consolidated basis and the delisting of Roxmark shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "anticipates", "believes", "may", "could", "would", "might" or "will" or variations of such words and phrases or statements (including in the negative). Forward-looking information reflects Goldstone's and Roxmark's current expectations regarding future results or events and is based on the opinions, estimates and assumptions of their respective management at the date the information is made. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Goldstone or Roxmark and there can be no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information include changes in market conditions, variations in ore grade or recovery rates, regulatory approvals, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, the business of the companies not being integrated successfully or such integration proving more difficult, time consuming or costly than expected as well as those risk factors discussed in Goldstone's Annual Information Form for the year ended December 31, 2008, Roxmark's management discussion and analysis for the period ended September 30, 2009 and the joint management information circular dated November 18, 2009 (copies of which are available at www.sedar.com).
Although Goldstone and Roxmark have has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Neither Goldstone nor Roxmark undertakes any obligation to update forward-looking information if circumstances or their respective management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Goldstone Resources Inc./Roxmark Mines Limited
J. Patrick Sheridan, Jr.
Chief Executive Officer
(647) 436-0273
psheridan@ontexresources.com
http://www.ontexresources.com
http://www.roxmark.com
God Bless
Thanks NYBob, This is an exciting gold play!
Merry Christmas - An Exciting Future Built on a Productive Past -
Goldstone Resources Inc. is a major force in gold exploration
and development, combining significant historic and newly
discovered resources and exploration potential in
the Beardmore-Geraldton Camp in Northwestern Ontario.
Formed late in 2009 by the merger of Ontex Resources Ltd. and
Roxmark Mines Ltd, the company benefits from extensive existing
infrastructure above and below ground including an upgraded,
fully-permitted mill. In addition to gold resources and exploration
targets on its 100% owned properties, Goldstone enjoys a 30% carried
interest in The Hardrock Project, a joint venture with
Premier Gold Mines Limited as operator.
Goldstone’s Brookbank and Northern Empire Mine properties both have
NI 43-101 compliant resource estimates, containing a combined
total of indicated and inferred resource in excess of one million
ounces of gold.
Overall, the ten formerly productive mines on Goldstone lands —
including the Leitch Mine, at one time, Canada’s richest —
produced in excess of 4 million ounces of gold,
remained open at depth, and offer major untapped potential
through extensions and parallel occurrences.
Goldstone is currently planning an aggressive, multi-rig drilling
program for 2010 and awaiting a NI 43-101 report to be issued early
in the year by Premier Gold Mines, summarizing results of
the exploration and drilling efforts on The Hardrock Project.
Goldstone Resources Inc trades on the Toronto Stock Exchange
under the symbol GRC
http://www.goldstoneresourcesinc.com/
dayneyus, the symbol change in US and Germany,
EURO etc. will come but the exchange applications
take some time to get into the systems
http://www.gold-eagle.com/editorials_08/levenstein122809.html
Merry Christmas & Happy New Year
NYBob how do I the make the symbol change over?
Ontex Resources Limited and Roxmark Mines Limited Finalize Merger
to Form Goldstone Resources Inc.
marketwire
*Companies:
o Ontex Resources Com Npv
o Roxmark Mines Limited (Tier2)
Related Quotes
Symbol Price Change
ONT.TO 0.2750 +0.0150
Chart for ONTEX RESOURCES COM NPV
Press Release Source: Ontex Resources Limited and Roxmark Mines Limited On Tuesday December 22, 2009, 9:21 am EST
TORONTO, ONTARIO--(Marketwire - 12/22/09) -
Ontex Resources Limited -
("Ontex") (TSX:ONT - News) and
Roxmark Mines Limited -
("Roxmark") (TSX-V:RMK - News) announced today that they have
combined to form
Goldstone Resources Inc.
("Goldstone"),
a well-positioned exploration company with an extensive property portfolio in the prolific Beardmore-Geraldton Greenstone gold belt. Effective today, the companies' previously announced, proposed merger (the "Transaction") was completed, with Roxmark continuing as a wholly-owned subsidiary of Goldstone.
Pursuant to the Transaction, Ontex also consolidated its common shares on the basis of one post-consolidation share for every three pre-consolidation shares and changed its name to Goldstone while Roxmark amalgamated with a wholly-owned subsidiary of Ontex.
Trading in Roxmark's common shares will be halted on the TSX Venture Exchange (the "TSXV") and its shares are expected to be formally delisted from the TSXV shortly. Goldstone's common shares are expected to commence trading on a consolidated basis on the Toronto Stock
Exchange under Goldstone's new symbol (GRC) on December 24, 2009.
"We are extremely appreciative of the strong support we received from our shareholders in completing this transaction," says J. Patrick Sheridan, Jr., Chief Executive Officer of Goldstone. "We look forward to pursuing a systematic and aggressive exploration program and continuing to build shareholder value."
Pursuant to the Transaction, Roxmark shareholders are receiving one post-consolidation Goldstone common share in exchange for each 3.75 common shares of Roxmark.
Former Roxmark shareholders can obtain certificates for their Goldstone shares by returning their Roxmark share certificates to Equity Transfer & Trust Company in accordance with the instructions set out in the joint information circular dated November 18, 2009 and letter of transmittal mailed to shareholders.
Upon completion of the Transaction and the share consolidation, Goldstone has 98,114,593 common shares issued and outstanding and approximately 108,475,933 common shares on a fully diluted basis.
Board and Management
Goldstone's management is comprised of Gary Conn, Chairman, Chief Operating Officer and Treasurer, J. Patrick Sheridan, Jr., Chief Executive Officer, Monir Younan, President, and George Harrison, Chief Financial Officer. Mr. Younan, former President and Chief Executive Officer of Roxmark, was appointed President of Goldstone, effective with the completion of the Transaction.
Joining Ontex directors Gary Conn, J. Patrick Sheridan, Jr. and Alan Ferry on the company's expanded board are Philip Cunningham, Jeffery Elliott and James Richardson, former Roxmark directors, and Richard Williams. The new directors were elected to the board, effective upon completion of the Transaction, at the recent Ontex special shareholders meeting.
Goldstone would like to thank its outgoing board members Denis Crane and Rob Montemarano for their valuable and dedicated service to the company and Roxmark would like to acknowledge the efforts and contributions of its outgoing director Thomas Atkins.
Goldstone Highlights
The Transaction is expected to provide significant benefits for shareholders of Goldstone, including:
- consolidation of properties in the prolific Beardmore-Geraldton camp, pooling of gold resources, and significant synergies in exploration and development;
- greater market presence;
- diversification of risk;
- a combined board of directors and management team, drawing on the strengths of each company;
- enhanced liquidity, capital market profile and financial strength in challenging times;
- operating efficiencies leading to significant cost reductions;
- a strong position from which to participate in the anticipated future consolidation in the Canadian gold industry; and
- access to Roxmark's Northern Empire Mill Complex.
About Goldstone
Goldstone is a gold exploration and development company operating in
the historically significant Geraldton-Beardmore area.
Goldstone is focused on gold exploration and deposit delineation at
its Brookbank,
Northern Empire,
Leitch-Sand River
and Key Lake gold properties
in the Beardmore Camp in northern Ontario.
In addition, Goldstone owns a 30% carried interest in
the Hardrock Project,
a joint venture with Premier Gold Mines Limited in the Geraldton Camp.
The Brookbank mineral resources at a 3.4 g/t gold cut-off grade
stands at 1.36 million tonnes grading 9.7 g/t gold
containing 424,400 ounces of Indicated resource
and 1.09 million tonnes grading 7.9 g/t gold
containing 276,600 ounces of Inferred resource.
(See National Instrument 43-101 technical report -
"Technical Report on the Brookbank Gold Deposit, Beardmore -
Geraldton Area, Northern Ontario, Canada"
by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR.)
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities laws. Forward-looking information is not comprised of historical facts and includes, but is not limited to, information concerning the merger between Goldstone and Roxmark, the expected benefits of such merger as well as the expected timing of the commencement of trading of Goldstone shares on a consolidated basis and the delisting of Roxmark shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "anticipates", "believes", "may", "could", "would", "might" or "will" or variations of such words and phrases or statements (including in the negative). Forward-looking information reflects Goldstone's and Roxmark's current expectations regarding future results or events and is based on the opinions, estimates and assumptions of their respective management at the date the information is made. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Goldstone or Roxmark and there can be no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information include changes in market conditions, variations in ore grade or recovery rates, regulatory approvals, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, the business of the companies not being integrated successfully or such integration proving more difficult, time consuming or costly than expected as well as those risk factors discussed in Goldstone's Annual Information Form for the year ended December 31, 2008, Roxmark's management discussion and analysis for the period ended September 30, 2009 and the joint management information circular dated November 18, 2009 (copies of which are available at www.sedar.com).
Although Goldstone and Roxmark have has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Neither Goldstone nor Roxmark undertakes any obligation to update forward-looking information if circumstances or their respective management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Goldstone Resources Inc./Roxmark Mines Limited
J. Patrick Sheridan, Jr.
Chief Executive Officer
(647) 436-0273
psheridan@ontexresources.com
http://www.ontexresources.com
http://www.roxmark.com
God Bless
WOW NYBob, this could be a real winner by next fall.
I did talk to the geologist ( Premier ) who said that the drilling
has only touched the tip of the iceberg ,as far as area goes,
and that 80% of the cores are showing significant mineralization .
Which he said is" UNHEARD OF" and that the veins are running deeper
and they are at 2,400 Ft.
He said that the depth could be similar to Red Lake
which goes 5,000 to 6,000 ft.
Look for closer to 2 million ounces for the tip of the iceberg.
This is one of the GEMS that are part of the package.
.......May You All Have A Merry Christmas and
with Chanukah winding down May the Light Shine
on You & Your Family. Believe !
by
danvinovich2
12/17/2009 another RMK forum
Merry Christmas
Thank you NYBob! That grading looks good, wonder how much this will add to reserve in the final 43-101?
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The Leitch Mine (now 100% owned by Goldstone) was one of Ontario’s highest grade and most profitable gold mines, producing 860,648 ounces from 906,395 tons of ore at an average recovered grade of 0.91 oz.Au/ton.
Even more impressively, the average recovered grade over the last ten years of the mine’s operation was 1.15 oz.Au/ton.
Welcome to Goldstone Resources Inc. new website -
The community with “a heart of gold”, Geraldton was founded originally as a gold mining camp known as Little Long Lac
in the early 1930’s. Ten gold mines fed the fires of a booming local economy for more than 30 years.
The MacLeod-Cockshutt Mining Headframe is now an historical landmark standing in Geraldton today.
Gold chart LT 2nd bull wave and most peaks in gold are
covered by a war ...
..in case of WW the gold producer -
need to be in strategic LT safest place -
www.goldstoneresourcesinc.com/
Roxmark Mines Ltd..
MacLeod-Cockshutt Gold Mine -
The Northern Empire mine was operated successfully by Newmont Mines, producing 149,053 ounces of gold from 425,866 tons with a recovery of 0.35 oz. in gold per ton. It is serviced with a shaft to 2,460 feet with development above and below a major flat diabase sill. The mine ceased mining operations in 1942.
The Mine itself has been re-evaluated for additional ore potential, in particular a parallel vein structure to the north of the mined Power Zone called the Contact Zone.
In the 1980's a 200 ton per day mill was built on the property for the purpose of cutom milling old waste piles from the Leitch and Northern Empire mines. This mill is expandable to 500 tons per day and has recently been upgraded for running of varying base metal ores in addition to the original gold.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1934-1941 |
Ore mined: | 425,866 tons |
Gold produced: | 149,053 oz (4225578 g*) |
Recovered grade: | 0.35 OPT** ( 12 g/t***) |
Mine type: | Underground Narrow vein Quartz |
Mining method: | Resuing |
Status of modeling: | In progress - near completion ( View data ) |
Status: | Exploration for re-opening |
* 1 Ounce = 28.3495 g |
The Northern Empire mine was operated successfully by Newmont Mines, producing 149,053 ounces of gold from 425,866 tons with a recovery of 0.35 oz. in gold per ton. It is serviced with a shaft to 2,460 feet with development above and below a major flat diabase sill. The mine ceased mining operations in 1942.
The Mine itself has been re-evaluated for additional ore potential, in particular a parallel vein structure to the north of the mined Power Zone called the Contact Zone.
In the 1980's a 200 ton per day mill was built on the property for the purpose of cutom milling old waste piles from the Leitch and Northern Empire mines. This mill is expandable to 500 tons per day and has recently been upgraded for running of varying base metal ores in addition to the original gold.
2007 and 2008 saw extensive drilling which has identified more than 25000 ounces of gold (43-101 compliant) reserves with the new Contact Zone as well as un-mined areas of the Power Zone.
Currently, Roxmark is evaluating the economics of re-opening the mine in the near future.
Hardrock Mine was first discovered in 1931 by “Hardrock” Bill Smith and Stan Watson on Discovery Point of Kenogamisis Lake . A village grew up at Hard Rock in 1934. Shaft sinking began in 1935, and Hard Rock Gold Mines, Ltd., became the third producing gold mine in the Little Long Lac gold camp by January, 1938.
Two shafts were sunk between 1934 and 1951; No. 1 to 475 feet, No.2 to 1,410 feet; connected to each other at 475-foot level. A cianide mill, capacity 200 tons per day was installed, capacity was later increased to 500 tons per day. In total the Hard Rock Mine produced 269,081 ounces of gold and 9,009 ounces of silver. The mine began operating in January 1938, and tonnage rose each year until it peaked in 1942. As with other mines, the war years meant difficulty in keeping miners.
The Hard Rock Mine closed in 1951 after having given up 269,081 ounces at an average grade of 0.18 OPT. When the enterprise closed, Mosher Longlac purchased the plant and equipment.
Current operations
Currently Premier Gold mines is drilling the property to identify additional gold resources.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1938-1951 |
Ore mined: | 1,458,375 tonnes |
Gold produced: | 269,081 oz (7628312 g*) |
Recovered grade: | 0.18 OPT** (6.2 g/t***) |
Mine type: |
|
Mining method: |
|
Status of modeling: | In progress |
Status: | Exploration for re-opening |
* 1 Ounce = 28.3495 g |
There were 14 past producing gold mines in the Greenstone region operating between 1934
and 1968. While other gold belts have seen decades of new exploration and new mines, the Beardmore/Geraldton gold belt has been fogotten, until recently.
Today there is renewed interest in both the past producing gold mines as well as new
potential mines in the region.
View Mine locations in Google Earth™ (.kmz) - Februray 2009
( Download/install Google Earth™ - its free!)
Past Producers(1934-1968) | Tons Milled | Average Grade of Gold (oz/ton) | Gold Produced (oz) |
1. Leitch Mine | 920,745 | 0.92 | 847,690 |
157,870 | 0.32 | 50,065 | |
425,866 | 0.35 | 149,493 | |
4. Magnet Mine | 359,912 | 0.42 | 152,089 |
1,780,516 | 0.34 | 605,499 | |
231,009 | 0.29 | 66,417 | |
7. Hard Rock | 1,458,375 | 0.18 | 269,081 |
10,337,229 | 0.14 | 1,475,728 | |
2,710,657 | 0.12 | 330,265 | |
10. Talmora-Long Lac | 6,634 | 0.21 | 1,417 |
11. Jellicoe Mine | 10,620 | 0.40 | 4,238 |
12. Tombill Mine | 190,622 | 0.36 | 69,120 |
3,525 | 0.70 | 2,460 | |
145,123 | 0.51 | 73,438 | |
Total Beardmore-Geraldton | 18,738,703 | 0.30 | 4,097,000 |
The Little Longlac Gold Mine -
1934. The mine produced 605,000 oz of Gold -
from 1.8 million tons of ore.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1934-1954, 1956 |
Ore mined: | 1,780,516 tons |
Gold produced: | 605,499 oz. (17165594 g*) |
Recovered grade: | 0.34 OPT** (12g/t***) |
Mine type: |
|
Mining method: |
|
Status of modeling: | In progress |
Status: | Exploration for re-opening |
* 1 Ounce = 28.3495 g |
In February of 1933, Little Long Lac Gold Mines, Ltd., was incorporated and by March of the same year, the company commenced sinking of a three-compartment shaft. The Little Long Lac Mine was the first gold producer in the Geraldton area. In 1935, the first full year of operation, the mine milled 62,073 tons (averaging 0.507 ounces of gold per ton) to produce 31,454 ounces of gold and 2,710 ounces of silver.
In 1953, its last year of production, the Little Long Lac Mine produced 23,037 ounces of gold, grading 0.277 ounces per tonne.
In 1995, Roxmark acquired from Algoma Steel Inc. the Little Longlac Mine Property, which consists of 39 patented mining claims and licensed occupation leases on 1,538 acres in Errington and Ashmore Townships. The property is under a 99-year lease from January 1, 1974 and produced 605,000 ounces of gold from 1.8 million tons at an average recovered grade of 0.34 oz. in gold per ton. Development included a shaft and winze to a depth of 3,950 feet.
Currently Premier Gold mines is actively exploring the area for new gold resources.
The Magnet Gold Mine -
(1936) The Mine produced 152,000 oz. of Gold
from 360,000 tons of ore.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1938-1943, 1946-1952 |
Ore mined: | 359,912 tons |
Gold produced: | 152,089 oz. (4311647g*) |
Recovered grade: | 0.42 OPT** (14g/t***) |
Mine type: |
|
Mining method: |
|
Status of modeling: | In progress |
Status: | Exploration for re-opening |
* 1 Ounce = 28.3495 g |
Acquired in 1980, Roxmark’s 100% interest in the Magnet Mine property (formerly held by Magnet Consolidated Mines Limited) consists of 27 mining claims under a 21-year renewable lease covering 974 acres located in Errington Township. Also included in the 27 mining leases are a total of 19 claims covering 812 acres which includes surface rights to leases on the property.
The Magnet Mine property is equipped with headframe, production hoist, compressors, certain mining equipment, generator, hydro substation, shop, dry, office, etc. Roxmark drilled an exploratory hole from the shaft station at the 11th level south through the Bankfield Tombill Fault. It encountered a high grade intersection averaging 1.32 oz. in gold over 4.4 feet. The intersection will be followed up by drilling from the mine workings west on the 11th level and east of the shaft on the 7th level. This zone will probably surface on the Company-controlled McLellan Joint Venture property. This intersection is not included in the potential resources. The mine was inactive since 1988.
Currently Premier Gold mines is exploring the property for additional gold resources.
The Bankfield Gold Mine -
produced nearly 70,000 oz. of Gold -
from ore mined at shallow depths.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1937-1942, 1944-1947 |
Ore mined: | 231,009 tonnes |
Gold produced: | 66,417 oz. (1882889 g*) |
Recovered grade: | 0.29 OPT** (9.9g/t***) |
Mine type: | Underground Narrow vein Quartz |
Mining method: |
|
Status of modeling: |
|
Status: | Exploration for re-opening |
* 1 ounce = 28.3495g |
Bankfield Mine was found in 1931 by Tom Johnson and Bob Wells at the Errington Township on the southwestern part of Magnet Lake . Bankfield Gold Mines, Ltd., came into existence with 14 claims totalling approximately 600 acres.
Operations at the mine were run by a staff of 68 men employed under John Mackenzie’s lead. Eleven men worked underground, with the remaining workers being dispersed throughout the power-house, a blacksmith shop, the assay office, a two-storey cook house, the stables, a powder-house, and the operations office. A 100-ton cyanide mill was also constructed. From 1934 to 1936 a shaft was sunk to a depth of 552 feet with levels at 150, 275, and 525 feet. Bankfield’s first gold brick was poured in 1937. Between 1936 and 1942, a winze was sunk from the 525-foot level to a depth of 1,297 feet from the surface. Drifting totaled 14,516 feet and crosscutting 7,832 feet.
Production for the mine first occurred between 1937 until 1942, and then from 1944 until 1947. A total of 66,417 ounces of gold were produced during that time, along with 7,590 ounces of silver. Recovery of gold averaged 0.29 ounces per ton of ore milled.
In 1992, Roxmark acquired from Golden Trio Minerals Ltd. a 100% interest in 18 patented mineral claims covering 844 acres located in Errington and Lindsley Townships.
The property produced 66,000 ounces of gold from 229,000 tons for an average grade of 0.29 oz. of gold per ton. The mine was serviced from a shaft and a winze to a depth of 1,275 feet. Based on historical data, Roxmark believes that exploration chances are excellent, including the depth extension.
ROXMARK Video presentation by chairman Philip F. Cunningham -
has been a director of the company since August 2004 -
and Chairman since May 2005. Mr. Cunningham is executive vice
president of Mackenzie Financial Corporation and
chairman of Mackenzie Financial Services Inc.
He joined the Mackenzie organization in 1982 -
http://www.roxmark.com/videos/roxvideo.html
Mackenzie -
offers more than 100 investment funds in Canada and
the United States -
Mackenzie - manages more than $45 billion -
for over 1,000,000 investors and their financial advisors...
as major shareholder for Roxmark Mines Limited -
Roxmark Mines Limited -
http://www.roxmark.com/index.html
In its first production phase —
closed Gold production primarily because of a $35 fixed Gold
gov. bureaucratic manipulated price and issues related to
fragmented land holdings at the time —
The Geraldton-Beardmore Gold camp ranked among the top five
producing areas in Canada, generating 4.1 million ounces of
Gold from 19.5 million tons of ore for an average recovered
grade of 0.21 oz.Au/ton.
Roxmark’s current holdings, which consolidate key properties
in the camp… eliminating boundary issues and maximizing
effective use of existing infrastructure, include six of
the camp’s former producing mines.
These six formerly producing Gold mines accounted for
1,890,045 ounces of Gold produced from 3.98 million tons
of milled ore with an average recovered grade of 0.46oz. Au/ton.
This represented 20.4 percent of the tonnage milled and
46.1 percent of the Gold recovered in the camp.
To cite one specific example;
The Leitch Gold Mine -
(now on Roxmark land) was the # 1 of Ontario & Canada's
highest grade and most profitable Gold mines -
producing 860,648 ounces from 906,395 tons of ore
at an average recovered grade of 0.91 oz.Au/ton.
Even more impressively, the average recovered Gold grade -
over the last ten years of the mine’s Gold operation -
was 1.15 oz.Au/ton.
The Leitch Mine was once Canada's richest. The Sand River/Leitch complex produced more than 900,000 ounces of gold. Like other Roxmark mines in both Camps, it remains open at depth.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1936-1968 |
Ore mined: | 920,745 tons |
Gold produced: | 847,690 oz. (24031588g*) |
Recovered grade: | 0.92 OPT** (31.5g/t***) |
Mine type: | Underground Narrow vein Quartz |
Mining method: | Resuing |
Status of modeling: |
|
Status: | Exploration for re-opening |
* 1 Ounce = 28.3495 g |
A past producer within the Eva Township, the Leitch Mine property was first staked in 1901. Exploration for iron was conducted on its claims by a number of companies between 1910 to 1923. Finally, in 1934, R. and J. Cryderman prospected the strike extension of the Sand River Mine's No.1 vein which lead to the discovery of the Leitch's No.1 vein.
Leitch Mine became one of the richest gold producers in Canada, operating continuously from 1937 to 1965, processing a total of 861,982 ounces of gold at an average grade of 0.92 ounces per tonne of ore milled.
Portions of the Leitch dump continuted to be milled throughout the 1980's. The Leitch Mine was serviced by a three-compartment shaft to 3,006 feet, with a winze from the 19th or 2,875-foot level to the 30th level.
In 2003, Roxmark acquired from Teck Cominco Limited an approximate 63% interest in the Leitch property, consisting of 10 patented claims covering 1,276 acres in Eva and Summers Townships. The property is governed by a Joint Venture agreement dated June 30, 1987 between Teck and San Paulo Exploration Inc., now AdvanteXCEL.com Communications Corp., as amended April 30, 1990 and October 30, 1990. The other Joint Venture party holds the balance of approximately 37%. Roxmark is the operator.
Furthermore in 2003, Roxmark acquired from Kinross Mines a 55.25% interest in the East Leitch Property covering 20 claims held under a 21-year lease on 832 acres in Summers Township. The property is governed by a Joint Venture Agreement dated September 1987 between Falconbridge Limited (now Kinross) and Minerals Anodor Inc. (now Afri-Can Marine Mineral Corporation). In January 2005, Roxmark acquired the remaining 29.75% interest from African Marine.
In 2009, Roxmark acquired the remaining 27% interest in the Leitch property. Roxmark mines now owns 100% interest.
Mineral Development Home | History | Current exploration | Data downloads
Owner: | |
Commodity: | Gold (Au) |
Operation: | 1937-1942 |
Ore mined: | 157,870 tons |
Gold produced: | 50,065 oz. (1419318g*) |
Recovered grade: | 0.32 OPT** (11g/t***) |
Mine type: | Underground Narrow vein Quartz |
Mining method: |
|
Status of modeling: |
|
Status: | Exploration for re-opening |
* 1 Ounce = 28.3495 g |
The Sand River Mine was discovered by Russell Cryderman in 1934. It was located just south of the Leitch Mine in Eva Township. The vein system was extended to the northeast onto the Leitch Mine property in 1935. Servicing was done by a three-compartment shaft to 2,656' depth. This past producer operated from 1937 to 1942 and produced 50,065 ounces of gold and 3,628 ounces of silver. Sand River Resources processed 157,870 tons with a recovery grade of 0.32 oz. of gold per tonne of ore milled.
In 2000, Roxmark acquired a 100% interest from Rio Fortuna Exploration Corp. in the Sand River Property, 37 contiguous mining leases covering 1,692 acres in Eva Township.
Roxmark, is a Canadian-based junior integrated Gold -
& Moly mining company involved in exploration and
development of Gold and Molybdenum properties
in the Geraldton-Beardmore area
of Northern Ontario, Canada -
Roxmark’s 12 mining properties total nearly 400 claims and
leases. They include an important new high grade -
Gold & Molybdenum project on which underground
development and mining of Moly was Re-Commissioned -
before the end of 2006 —
well next on the agenda;
will reactivate six formerly producing mines which
generated nearly two million ounces of Gold.
Existing infrastructure, including a recently upgraded on-site
Gold and Molybdenum mill, will provide important advantages
in developing parallel Gold structures in 2007 and beyond.
Management is also optimistic about the potential for new
Gold discoveries at current and greater depths.
http://www.roxmark.com/properties.html
http://www.roxmark.com/prop_gold.html
In 2005 - 2006, Roxmark generated revenue and demonstrated the
capability of the mill by bulk sampling and processing gold
ore from the East Leitch property. In addition, a diamond
drilling program was completed on the Nortoba-Tyson
molybdenum/gold property, expanding the size of the known
molybdenum mineralization. In early 2006, management
intends to follow up with a molybdenum bulk sampling program
with two objectives:
to generate cash flow to support other exploration and
development programs and to set the stage for early
underground development of the moly resource.
In recent years, Roxmark has completed self-administered
private equity placements which raised nearly $5 million
in funding, without incurring brokerage commissions.
For more information go to:
http://www.roxmark.com
http://www.gold.org/value/spotprice.html
Northern Empire Mine & Mill & Roxmark has:
* upgraded its onsite Northern Empire Mill -
(from 200 TPD, expandable to 500 TPD) -
to enable processing of both Gold and Molybdenum -
adding a Knelson gravity concentrator -
and new flotation circuit -
and dryer to maximize efficiency
Roxmark - conducted an 1,865-metre large-core diamond
drilling program on -
the Nortoba-Tyson property which further delineated -
the molybdenum mineral deposit, located the diabase -
sill, and assessed the structural -
characteristics of the veins and rock wall.
In 1996, Roxmark acquired a 100% interest in -
The Northern Empire Mine and Mill -
from Pancontinental Mining (Canada) Ltd.
and Ateba Mines Inc.
The Northern Empire Mine -
consists of 72 patented and leased claims covering 2,644 acres
in McComber and Summers Townships, and includes
a permitted mill complex.
The Northern Empire Mine mill -
currently has a capacity of 200 tons-per-day, but has been
designed for expansion to 500 TPD.
It has been upgraded and readied to process bulk Gold and
Molybdenum ores from -
Roxmark’s Nortoba-Tyson Mine -
Sand River/Leitch and East Leitch Mines projects -
The Northern Empire Mine -
property has produced 149,053 ounces of Gold -
from 425,866 tons with a recovery -
of 0.35 oz. in gold per ton.
It is serviced with a shaft and a winze to 2,400 feet
with development above and below a major flat diabase sill.
Roxmark's 200 TPD Northern Empire Mill -
upgraded to modern state of the art mill facility -
expandeable to 500 TPD.
Roxmark also announced that it is planning to reopen -
the Northern Empire Mine -
and develop the resources from underground workings.
The Northern Empire Mine -
was operated successfully by Newmont Mines -
from 1934 to 1941.
The mine was serviced by a shaft to a depth of 2,460 feet and
produced 149,000 ounces of gold from 426,000 tons of ore
at a recovered grade of 0.35 oz/t Au.
The on-site 200TPD mill (expandable to 500TPD) was built in 1982
and upgraded and permitted by Roxmark.
It processed gold and molybdenum ores in 2005 and 2006,
respectively.
Roxmark add the richest Gold Mine in Canada to RMK Gold mines holdings -
Roxmark with Record # 1 in Au Richest grades per tonnage -
will still be mined 100 yrs after we gone? -
Roxmark add another billion$fiatz + in value for the
some of the other rich old gold mines RMK owns? -
http://www.roxmark.com/properties.html
Northern Empire Gold Mine - made Newmont NEM lots of Gold -
NEM become very rich - richest in US Gold mining -
Its plenty of new rich Gold ore found -
http://www.roxmark.com/pics/n-empire_longitudinal.pdf
it was a very rich Gold mine in the first case -
and the oldtimers only got a sniff of
the Au bullion treasures bellow -
its no bottom in sight - its gets richer and richer -
the further done we go -
Canadian Roxmark Mines -
bought Northern Empire Gold Mine back into Canadian RMK -
but do the Cnadians know the value GOLD or how buy RMK? -
will it be mostly US goldbugs superred to buy RMK -
and buy it all back behind the red curtains of Canadians? -
RMK Au LT Gold strategic Safety -
Got RMK Roxmark Mines -
Northern Empire Gold LT strategic bargain -
Plenty of new Gold ore has been discovered -
http://www.roxmark.com/pics/n-empire_longitudinal.pdf
Rougher moly concentrate flotation at the Northern Empire mill.
Would not be surprized if Rio Tinto does a bid for Roxmark -
http://www.riotinto.com/library/376_video_library_5045.asp?videofile=wmp_high
at Roxmark's East - Leitch Gold Mine property -
800 tons of Gold Ore - were bulk sampled
and run it through the mill
To cite one example; The Leitch Gold Mine -
(now on Roxmark owned land) was one of Ontario’s highest grade
and most profitable Gold Mines -
producing 860,648 ounces Gold from 906,395 tons of ore
at an average recovered grade of Gold 0.91 oz.Au/ton.
Even more impressively, the average recovered grade
over the last ten years of the mine’s operation
was Gold 1.15 oz.Au/ton. is one of the richest
Gold Mines in Canada -
Bulk sampled Gold ore was processed through Roxmark's mill
to generate cash flow.
The road from Nortoba-Tyson Mine -
to the Northern Empire Mill was upgraded in 2006.
High grade Moly ore from Nortoba-Tyson Mine -
is currently being processed for sale.
Air-Trac is used to drill blasting holes in the rock at Nortoba-Tyson Mine properties.
Rock removed at Nortoba-Tyson Mine -
later some waste used for reclamation of the site.
Ex. of a Molybdenum vein -
on the face of a footwall at Nortoba-Tyson Mine.
Miners prepare to blast as part of bulk sampling -
in pit 2 at Nortoba-Tyson Mine.
Presentation to Investors - October 18. 2006 -
http://www.roxmark.com/presentations/Roxmark%20Investors%2006-10-18.pdf
Pouring gold At Empire mill - Picture on website -
Welcome to Goldstone Resources Inc. new website -
http://www.grcmines.com/
Latest News Releases |
January 14, 2010 Goldstone Reports Additional High-grade Gold Results at Hardrock Project January 12, 2010 Goldstone Updates Hardrock Project Exploration Program January 5, 2010 Goldstone Reports Deep Drilling at Hardrock Intersects High Grade Gold December 22, 2009 Ontex Resources Limited and Roxmark Mines Limited Shareholders Approve Merger |
View More… |
An Exciting Future Built on a Productive Past |
Goldstone Resources Inc. is a major force in gold exploration and development, combining significant historic and newly discovered resources and exploration potential in the Beardmore-Geraldton Camp in Northwestern Ontario. Formed late in 2009 by the merger of Ontex Resources Ltd. and Roxmark Mines Ltd, the company benefits from extensive existing infrastructure above and below ground including an upgraded, fully-permitted mill. In addition to gold resources and exploration targets on its 100% owned properties, Goldstone enjoys a 30% carried interest in The Hardrock Project, a joint venture with Premier Gold Mines Limited as operator. Goldstone’s Brookbank and Northern Empire Mine properties both have NI 43-101 compliant resource estimates, containing a combined total of indicated and inferred resource in excess of one million ounces of gold. Overall, the ten formerly productive mines on Goldstone lands — including the Leitch Mine, at one time, Canada’s richest — produced in excess of 4 million ounces of gold, remained open at depth, and offer major untapped potential through extensions and parallel occurrences. Goldstone is currently planning an aggressive, multi-rig drilling program for 2010 and awaiting a NI 43-101 report to be issued early in the year by Premier Gold Mines, summarizing results of the exploration and drilling efforts on The Hardrock Project. Goldstone Resources Inc trades on the Toronto Stock Exchange under the symbol GRC Learn more about Ontex Resources Ltd.Learn more about Roxmark Mines Ltd. |
|
A strong presence across the Belt |
Web Site:
Properties:
Roxmark Properties
Roxmark’s high grade gold and molybdenum properties are located in the Beardmore and Geraldton mining camps in Northwestern Ontario. Exploration and development are currently focused on the Nortoba-Tyson property in the Beardmore camp. Properties with an asterisk contain historically productive mines. (Note: Mosher, Macleod-Cockshutt, and Hard Rock mines, all past producers, are being added to this list.)
Beardmore Molybdenum and Gold Project
Nortoba-Tyson Project
Beardmore Gold Properties
Northern Empire Mine Property*
Sand River Mine Property*
Leitch Mine Property*
East Leitch Property
Geraldton Gold Properties
Hardrock Project*
Placer Dome-Key Lake Property
Gold: Beardmore Camp – 100% owned
1. Northern Empire
In 1996, Roxmark acquired a 100% interest in the Northern Empire property from Pancontinental Mining (Canada) Ltd. and Ateba Mines Inc. The property consists of 72 patented and leased claims covering 2,644 acres in McComber and Summers Townships, and includes a permitted mill complex. The mill currently has a capacity of 200 tons-per-day, can be expanded to 1,000 TPD. It has been upgraded and readied to process gold and molybdenum ores.
Historically, the Northern Empire mine was operated successfully by Newmont Mines, producing 149,493 ounces of gold from 425,866 tons with a recovery of 0.35 oz. in gold per ton. It is serviced with a shaft to 2,460 feet with development above and below a major flat diabase sill. The mine was inactive since 1988.
In 2007 and 2008, Roxmark carried out a 103-hole, 11,096-metre diamond drilling program at the Mine, described in a NI 43-101 report dated November 2008, which established resources for the top two mine levels of indicated 86,652 tons grading 10.70 g/t Au (0.34 oz/t Au) for 927,113 g Au (29,807 ozs Au) and inferred 64,748 tons grading 9.95 g/t Au (0.32 oz/t Au) for 644,446 g Au (20,719 oz Au).
An independent study by SRK Consulting Geologists concluded in 2006 that the mine offers excellent exploration potential containing 150,000 ounces of gold (non-Ni 43-101 compliant).
Roxmark’s current plan is to develop the eastern strike length of the Northern Empire mine by a decline and mine the area to the second level. Preliminary study indicates that production can begin within six months of completing development work. This program will be followed up by dewatering the 2,460 feet shaft and installing a headframe, hoist and ancillary equipment on surface and underground.
2. Sand River Mine Property
In 2000, Roxmark acquired a 100% interest from Rio Fortuna Exploration Corp. in the Sand River Property, 37 contiguous mining leases covering 1,692 acres in Eva Township.
The Sand River-Leitch discovery was made on the Sand River Mine in 1934 and the vein system was extended to the northeast onto the Leitch Mine in 1935. Servicing was by a three-compartment shaft to 2,656' depth. Sand River Resources processed 157,870 tons with a recovery grade of 0.32 oz. of gold per ton yielding 50,065 oz. gold.
3. Leitch Property
In 2003, Roxmark acquired from Teck Cominco Limited an approximate 63% interest in the Leitch property, consisting of 10 patented claims covering 1,276 acres in Eva and Summers Townships. Roxmark owns now 100% interest in the property subsequent to acquiring the balance of interest early in 2009. Operated continuously over a period of nearly 30 years and producing 847,900 oz with an average ore grade of .92 ounces per ton, the Leitch Mine was shut down in 1965 as a result of $35 gold and boundary disputes which Roxmark has eliminated by acquiring the Sand River Mine. At just over 3000 feet, The Leitch Mine was shallow by the standards of top producers in nearby camps. It never ran out of gold at depth and both ore grade and vein width increased with depth. Mining records of the time record several drill assays of more than two ounces per ton over 2 feet located 100 feet below the 30th level.
The Mine was serviced by a three-compartment shaft to 3,006', with a winze from the 19th or 2,875' level to the 30th or 4,525' level. It operated continuously from 1937 to 1965, processing 920,745 tons with a recovery of 0.92 oz. of gold per ton yielding 847,690 oz. gold at US$35/oz. The Mine was shut down in 1965 as a result of $35 gold and boundary disputes which Roxmark has eliminated through consolidation and acquisition of Sand River Mine.
4. East Leitch Property
In 2003, Roxmark acquired from Kinross Mines a 55.25% interest in the East Leitch Property covering 20 claims held under a 21-year lease on 832 acres in Summers Township. In January 2005, Roxmark acquired the remaining 29.75% interest from African Marine. During 2006, Roxmark conducted a small bulk sample from the property and recovered 125 ounces of gold from processing 800 tons. The property is adjoining the Leitch-Sand River Mine
Gold: Geraldton Camp
1. Hardrock Project – 30% carried interest
The Hardrock Project, located in the Beardmore–Geraldton Greenstone Belt of Northwestern Ontario. The project is operated by Premier Gold Mines Limited (PG-TSX) which is cauurntly earning 70% interest and Roxmark is being carried at 30% interest, The Hardrock Project comprises approximately a 15-kilometre long property package that overlies more than 3.0 million ounces of past gold production in a district that has historic production in excess of 4.0 million ounces. The property lies only a few kilometers south of the Town of Geraldton, which is serviced by the Trans-Canada Highway, Trans-Canada Pipeline and the Canadian National Railway.
The Hardrock Project contains some 1 million ounces of historic (non-NI43-101 compliant) gold resources having potential to be mined in part by both open pit and underground methods. Premier believes that these historic resources, while attractive in their own right, are only an indication of the true potential of this district. We regard the Hardrock Project as having potential to host multiple discoveries of 1 million ounces or more.
In 2009, Premier, as operator is conducting an aggressive $8 to $10 million exploration program with the goal of tabling a NI43-101 compliant mineral resource estimate of 1 million to 1.5 million ounces of gold, occurring in multiple, closely-spaced deposits, potentially amenable to open-pit mining. In order to achieve this, we have planned the following exploration program:
Some 50,000 metres of diamond drilling in delineation and exploration configurations.
Focus within 300 metres of surface.
Target areas of existing mineralization & those with high potential for discovery based on our geological model.
2. Placer Dome-Key Lake Property
Between 1995 and 1997, Roxmark earned from Placer Dome Canada Limited and Key Lake Explorations Limited a 100% interest in 26 patented claims and mining leases (of which 10 claims are freehold with surface rights) on 1,339 acres in Lindsley Township. To earn the interest Roxmark earned a 100% interest in the property by investing a total of $2 million of exploration expenditures.
In 1997, Cyprus Canada Inc. completed an exploration program comprising 13 holes and 2,270 metres drilled, with five holes intersecting visible gold. The drilling was part of a Cyprus program to determine the possibility of developing open pit gold mines in the Geraldton area. In 1997, Cyprus determined that the property contained a total of 150,000 ounces of gold (non-NI 43-101 compliant).
Drilling focused on either side of a three-compartment shaft with three underground levels. It confirmed the presence of gold mineralization and added to the extensive drilling previously carried out in the area, including 87 holes by Placer Dome.
Figure 1:
Inferred crustal levels of gold deposition showing the different types of gold deposits and the inferred deposit clan (from Dubé et al., 2001; modified from Poulsen et al., 2000).
Figure 2:
World distribution of greenstone-hosted quartz-carbonate vein deposits containing at least 30 tonnes of Au.
Figure 3:
Simplified geological map of the Abitibi greenstone belt showing the distribution of major fault zones and gold deposits. Modified from Poulsen et al. (2000).
Figure 4:
Tonnage and grade repartition for gold deposits in the world containing at least 30 tonnes of Au.
Figure 5:
Tonnage vs. grade relationship of Canadian and worldAu deposits containing at least 30 tonnes of Au.
Figure 6:
(A) Quartz-breccia vein, Main Break, Kirkland Lake. (B) High-grade quartz veinlets, hosted by syenite with visible gold, disseminated pyrite, and traces of tellurides, Main Break, Kirkland Lake.
Figure 7:
(A) Laminated fault-fill veins, Pamour Mine, Timmins. (B) Closed up, laminated fault-fill veins showing iron-carbonatized wall-rock clasts. (C) Boudinaged fault-fill vein, section view, Dome Mine. (D) Arrays of extensional quartz veins, Pamour Mine. (E) Extensional quartz-tourmaline “flat vein” showing multiple stages of mineral growth perpendicular to the vein walls, Sigma Mine (from Poulsen et al., 2000). (F) Tourmaline-quartz vein, Clearwater deposit, James Bay area.
Figure 8:
Schematic diagram illustrating the geometric relationships between the structural element of veins and shear zones and the deposit-scale strain axes (from Robert, 1990).
Figure 9:
(A) Large boudinaged iron-carbonate vein, Red Lake district. (B) Iron carbonate pervasive replacement of an iron-rich gabbroic sill, Tadd prospect, Chibougamau. (C) Green carbonate rock showing fuchsite-rich replacement and iron-carbonate veining in a highly deformed ultramafic rock, Larder Lake. (D) Green carbonate alteration showing abundant green micas replacing chromite-rich ultramafics, Baie Verte, Newfoundland.
Figure 10:
(A) Diopside vein in biotite-actinolite-microcline-rich gold-bearing alteration, Madsen Mine, Red Lake. (B) Auriferous metasomatic hydrothermal layering with actinolite-rich and biotite-microcline-rich bands, MadsenMmine, Red Lake. (C) Gold-rich No. 8 vein showing visible gold in a carbonate-actinolite-diopside-rich vein, Madsen Mine, Red Lake.
Figure 11:
(A) Mylonitic foliation, Cadillac-Larder Lake Break, Val d'Or. (B) Close-up showing mylonitic foliation within Cadillac-Larder Lake Break, Val d'Or.
Figure 12:
(A) Vertical section of shear bands indicating a reverse-oblique sense of motion recorded by the gold-bearing Cape Ray fault zone, Newfoundland (from Dubé et al., 1996). (B) Section view showing reverse-oblique mylonite, Cape Ray fault zone, Newfoundland. (C) Section view showing auriferous quartz vein hosted by a second-order reverse shear zone, Cooke Mine, Chapais, Quebec (from Dubé and Guha, 1992).
Figure 13:
(A) Section view showing the 25 M oz Kirkland Lake Main Break. (B) Kirkland Lake Main Break in section view, note the brittle nature of the structure.
Figure 14:
(A) Timiskaming conglomerate, Kirkland Lake. (B) Mineralized quartz veins hosted by a carbonatized Timiskaming conglomerate, Pamour Mine, Timmins. (C) Mineralized quartz vein hosted by a discrete brittle-ductile high-strained zone hosted by weakly deformed Timiskaming conglomerate, Kirkland Lake. (D) Variolitic basalt, Vipond Formation, Tisdale Assemblage, Timmins.
Figure 15:
(A) Boudinaged ankerite vein with late quartz veins cutting the Paymaster porphyry, Dome Mine. (B) Boudinaged ankerite veins with syndeformation late extensional quartz veins, Dome Mine. (C) Massive ankerite Kurst vein cut by late gold-bearing extensional quartz vein, Dome Mine area. (D) Ankerite vein clast within Timiskaming conglomerate, Dome Mine (from Dubé et al., 2003). (E) Close-up of photo D (from Dubé et al., 2003). (F) Deformed quartz vein hosted by folded Timiskaming argillites, Dome Mine.
Figure 16:
Location of Canadian greenstone-hosted quartz-carbonate vein districts.
Figure 17:
Fine-grained chloritized albitite dyke on the 4175 foot level of the McIntyre Mine, intruding sericitized Pearl Lake porphyry. Both the albitite dyke and the altered porphyry are cut by quartz-ankerite-albite veins (from Brisbin, 1997; photograph by Nadia Melnik-Proud, caption after Melnik-Proud, 1992; photo obtained by B. Dubé from D. Brisbin).
Figure 18:
Schematic diagram illustrating the setting of greenstone-hosted quartz-carbonate vein deposits (from Poulsen et al., 2000).
Date Modified: 2009-08-17
Figure 27:
Foliated chlorite-pyrrhotite at base of vent complex. From Leitch et al., 2000.
The Hardrock Project, located in the Beardmore -- Geraldton Greenstone Belt of Northwestern Ontario, is consistent with all the hallmarks of Premier's business model and is a core holding in its exploration portfolio. Premier owns a 70% interest in the project.
Many past-producing sites in Canada are undergoing a renaissance and today are being recognized for their exceptional potential to host future world class discoveries.
Recent discoveries in Red Lake (Red Lake Gold Mines, Bruce Channel) and at Malartic underscore the importance of exploration in such historic camps.
The Hardrock Project comprises approximately a 15-kilometre long property package that overlies more than 3.0 million ounces of past gold production in a district that has historic production in excess of 4.0 million ounces. The property lies only a few kilometers south of the Town of Geraldton, which is serviced by the Trans-Canada Highway, Trans-Canada Pipeline, and Hydroline. Exploration is conducted year round.
NI43-101 Compliant Mineral Resources
On March 4, 2010 the Company announced that it had received a National Instrument (NI) 43-101 compliant Mineral Resource estimate on the Hardrock Project for the near surface mineralization amenable to open pit mining.
Highlights of the Hardrock Area Mineral Resource estimate include:
The following table presents the tonnes and grades for the block model used for the Mineral Resource estimate at a range of cut-off grades in order to demonstrate the sensitivity of the estimates. The cut-off value of 1.0 g/t Au was derived from recent technical reports filed on SEDAR and in-house technical data from RCI for similar deposit types.
Cut-off Grade | Tonnes (Millions) | Grade gpt Au (cut) | Grams Au Cut (Millions) | Ounces Au Cut | Grade gpt Au (uncut) | Grams Au uncut (Millions) | Ounces Au Uncut |
0.6 gpt Au | 22.9 | 1.30 | 29.7 | 955,000 | 1.65 | 37.8 | 1,215,000 |
0.8 gpt Au | 16.1 | 1.56 | 25.0 | 805,000 | 2.03 | 32.5 | 1,045,000 |
1.0 gpt Au | 11.6 | 1.82 | 21.1 | 675,000 | 2.43 | 28.1 | 905,000 |
1.2 gpt Au | 8.5 | 2.08 | 17.7 | 570,000 | 2.86 | 24.3 | 780,000 |
1.4 gpt Au | 6.3 | 2.35 | 14.9 | 475,000 | 3.33 | 21.0 | 675,000 |
Cut-off Grade | Tonnes (M) | Grade gpt Au (cut) | Grams Au Cut (Millions) | Ounces Au Cut | Grade gpt Au (uncut) | Grams Au uncut (Millions) | Ounces Au Uncut |
0.6 gpt Au | 16.1 | 1.25 | 20.1 | 645,000 | 2.39 | 38.4 | 1,085,000 |
0.8 gpt Au | 11.0 | 1.51 | 16.5 | 530,000 | 3.03 | 33.1 | 955,000 |
1.0 gpt Au | 7.4 | 1.81 | 13.2 | 425,000 | 3.92 | 28.8 | 830,000 |
1.2 gpt Au | 4.9 | 2.15 | 10.6 | 340,000 | 5.06 | 24.9 | 730,000 |
1.4 gpt Au | 3.3 | 2.57 | 8.6 | 275,000 | 6.49 | 21.7 | 640,000 |
2010 Exploration Plans
In 2010, Premier has planned an aggressive $10 to $12 million exploration program with the goal of tabling a second NI43-101 compliant mineral resource estimate amenable to underground mining after its completion. In order to achieve this, we have planned the following exploration program:
Given the pace at which our 2010 program is being conducted, shareholders and potential shareholders can anticipate press releases updating results and progress on the Hardrock Project on a regular (bi-weekly to monthly) basis.
(as of June 17, 2009)
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Gold target being to around $1,950 per ounce -
Au 2nd LT bullwave to run
http://www.grcmines.com/
The only caveat is please no attacking each other personally.
Welcome to Goldstone forum to keep on the issue and enjoy it -
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