Guatemala

[Tackler]

There are lots...

[OG_Money]

what's going on in this board what stocks are there to invest in in Guatemala

[Tackler]

Firestone drills 2.4% Zn over 13.7 m at Torlon Hill

2007-03-15 07:05 MT - News Release

Ms. Lori Walton reports

FIRESTONE VENTURES REPORTS LATEST DRILL RESULTS FROM THE TORLON HILL HIGH-GRADE ZINC PROJECT

Firestone Ventures Inc. has provided the results from an additional seven drill holes from the company's Torlon Hill zinc project. These latest step-out intersections extend the known footprint of zinc mineralization an additional 100 metres southwest beyond the previous boundary.

Highlights of the most recent results are as follows:


Hole TH07-46 intersected 13.7 metres of 2.4 per cent zinc, including 1.8 metres of 7.2 per cent zinc.
Hole TH07-48 intersected 5.0 metres of 5.0 per cent zinc.
Hole TH07-49 intersected 4.3 metres of 11.6 per cent zinc.

Results from drill holes TH07-48 and 49 are significant, as they are 100 metres southwest of previous drilling. Geological evidence indicates that the intersections in these holes are situated in a down-faulted block with respect to the main Torlon mineralization. They are located west of a northerly trending fault, in an area not previously known to contain mineralization. The potential for additional mineralization, both "oxide-type" and sulphide, is enhanced by the presence of previously unknown block faulting in this area.

Lead values within the mineralized intervals for the seven drill holes ranged from 0.5 to 4.7 per cent and silver values ranged from one to 45 parts per million (ppm). Results from drill holes TH07-45 and 47, both drilled on the southern margin of the main zone of high-grade zinc mineralization, returned predictable but generally low values. Results from drill holes TH07-50 and 51, both step-out holes to the west, were generally low.

The current 2006/2007 Torlon Hill drill campaign has three priority objectives: further expansion of the mineralized zone, detailed infill drilling and improved delineation of deposit geometry. Infill drilling of the area of high-grade zinc (smithsonite) mineralization defined last year is now complete; the current drill holes are expansion holes testing for additional areas of zinc mineralization at Torlon Hill. A total of 2,502 metres has been drilled to date of a total of 3,600 metres planned in the current drilling program which is expected to finish at the end of March, 2007. The company previously drilled an additional 1,442 metres in 22 holes in early 2006.

In related news, Firestone Ventures is pleased to announce that it has signed a formal option agreement with Goldcorp Inc. to earn a 100-per-cent interest in the Saturno and Saturno II concessions. The concessions surround the company's Torlon project and cover an area of 12,226 acres (4947.9 hectares or 49.5 square kilometres). The properties cover Permian carbonate formations which are considered to have excellent exploration potential for zinc and lead mineralization.

Under the terms of the option agreement, Firestone Ventures must make a cash payment to Goldcorp (the vendor) of $5,000 (U.S.) and incur $250,000 (U.S.) in exploration expenditures over three years. A total of $35,000 (U.S.) must be spent by the end of the first year. A 1.5-per-cent net smelter return royalty (NSR) is reserved for the vendor, of which 0.5 per cent may be purchased by Firestone at any time for $1-million. An additional 2-per-cent NSR is reserved for the underlying vendor.

The road-accessible Torlon Hill project is located 18 road kilometres northwest of the city of Huehuetenango, near the Pan-American Highway in western Guatemala. Drill hole location maps, assay results, technical report, a longitudinal section sketch, FAQ sheet and photos are available at the company's website.

This news release has been reviewed and approved by John Cleary (CPG), qualified person for the Torlon Hill project in accordance with regulations under National Instrument 43-101, and by Al Workman, PGeo, vice-president of Watts, Griffis and McOuat Ltd. Sample preparation, quality control and analytical techniques have been described previously (see news in Stockwatch on Jan. 11, 2007). All samples were analyzed by ALS Chemex in Vancouver, Canada.

[Tackler]

Skye exercises Fenix interest option

2007-03-06 15:05 MT - News Release

Mr. Ian Austin reports

SKYE RESOURCES EXERCISES FENIX OPTION

Skye Resources Inc. has exercised its option to make unconditional its 2004 acquisition of the CVRD Inco Ltd. (Inco) interest in the Fenix nickel laterite project in Guatemala. As consideration, Skye has delivered to Inco 1,746,463 Skye shares and $3.5-million (U.S.).

"The formal exercise of the option is an important step in the development of the world-class Fenix project," said Ian Austin, president and chief executive officer, Skye Resources. "Our project development team is advancing the engineering while simultaneously we are moving forward with our financing plan so that we can act quickly once we receive the environmental approvals from the Guatemalan government."

Inco has advised Skye that it has also exercised 250,000 Skye share purchase warrants at a price of $5.75. Following Skye's exercise of the option and Inco's warrant exercise, Inco holds 5,615,714 Skye shares representing approximately 13 per cent of the outstanding shares in Skye.

Inco has advised Skye that it will exercise its right to nominate a director to the Skye board at Skye's annual meeting.

In 2004, Skye acquired Inco's shares in the Guatemalan company (CGN) that owns the Fenix project, with the acquisition being conditional upon Skye satisfying a number of conditions, culminating in the completion of the feasibility study, which was announced late in 2006. Skye now owns 92.4 per cent of CGN.

[Tackler]

Bush stops in Guatemala for talks

The issues of immigration and drug trafficking have dominated talks in Guatemala between President Bush and his counterpart Oscar Berger.

Mr Bush said he hoped to push reforms through Congress soon to allow more immigrants to work legally in the US.

Protests greeted his one-day visit, the fourth stop on his Latin American tour.

Venezuela's president, Hugo Chavez, has used a parallel tour to speak out against what he calls the interference of the "American empire".

Mr Chavez paid a brief visit to Jamaica, where he met Prime Minister Portia Simpson Miller, before arriving in Haiti late on Monday.

He was greeted by Haitian President Rene Preval and crowds of flag-waving supporters. The two leaders are expected to discuss aid for the Caribbean nation.

The Venezuelan president has already visited Nicaragua, Bolivia and Argentina, where he started his tour on Friday with a massive anti-Bush rally.

Deportation question

Several hundred protesters, mainly from student groups, trade unions and indigenous communities, demonstrated near the presidential palace in Guatemala City as Mr Bush and Mr Berger held talks.

Speaking at a joint press conference afterwards, Mr Bush said he hoped to push immigration reforms, including a temporary worker programme, through Congress in the next few months.

"I told the president, it seems like to me we got to get this done by August, I hope so," he said.

"We don't believe in timetables. But I do believe in pressing hard and working with Democrats and Republicans to get it done."

However, Mr Bush insisted deportations of illegal workers - a contentious issue in Guatemala because hundreds of thousands of its citizens live illegally in the US - would continue under US law.

Mr Berger responded: "The Guatemalan people would have preferred a more clear and positive response - no more deportations."

Mr Bush promised to stand together with Guatemala in the fight against corruption and drugs trafficking.

After his talks Mr Bush left for Mexico, where he will finish his week-long journey to five Latin American countries.

'Bad energy'

Mr Berger and his wife had earlier taken the president and First Lady Laura Bush to the mainly-indigenous town of Santa Cruz Balanya.

They visited a US military medical training team helping to provide medical and dental care to rural areas.

Mr Bush also called on a Maya agricultural co-operative - where he talked to farmers about the benefits of free trade - and the Maya archaeological site of Iximche.

Indigenous Mayas staged a protest during Mr Bush's visit to Iximche and said they would "cleanse" the ancient site to remove "the bad energy" he had left.

After a stop in Colombia on Sunday, he pledged his personal support to its fight against drugs.

So far, Mr Bush's Latin America trip has produced one deal - an agreement with Brazil for co-operation in the promotion of ethanol, a bio-fuel.

Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/americas/6441235.stm

[Tackler]

Skye not yet concerned by squatters at Fenix

2006-09-19 15:04 ET - News Release

Mr. Ian Austin reports

SKYE'S PROJECT UNAFFECTED BY LAND OCCUPATION

Skye Resources Inc.'s lands associated with its Fenix project have been occupied by a number of Mayan Indian families with the intention of establishing subsistence farming communities. The three parcels of land they have occupied lie in a valley a considerable distance from the Fenix nickel deposits. The situation on the ground is peaceful and is not affecting project activities, including the drill program. The company has attempted to hold discussions with representatives of the groups but was not successful. The company will continue to seek dialogue and is also pursuing legal avenues.

Over the past two years, Skye commenced a number of on-the-ground activities including participation in the Center for Social Responsibility within Guatemala, and the formation of a formal community relations team. This team includes seven native Q'eqchi' members who visited 30 communities in the region to assess local concerns. Skye has also helped form Raxche, an organization that is focused on improving local health and education. Among the early accomplishments of Raxche are farming projects and the refurbishment of a local school and hospital.

The Fenix project will meet all key international benchmarks in particular the equator principles. The project will comply with all relevant Guatemalan laws and the International Finance Corp. performance standards.

[Tackler]

Aurogin nears completion of Guatemala gold mine

2006-09-13 07:20 ET - News Release

Mr. Neil Gow reports

AUROGIN NEARS MINE COMPLETION AT EL SASTRE

Aurogin Resources Ltd.'s construction of the gold mine in Guatemala is nearing completion. This week the company has initiated mineral extraction and loading the new leach pad. The zero-discharge heap-leach facility has been designed to produce gold at a rate of 20,000 ounces per year. The first gold pour is on schedule for the fourth quarter of calendar 2006.

Construction

Construction at the El Sastre main zone mine (see news issued in Stockwatch dated July 10, 2006), is progressing well, with approximately 90 per cent of the project completed to date:

-all environmental and operating permits are in place (see news issued in Stockwatch dated July 27, 2006);
-access and haulage road construction is complete;
-liner installation in all the solution ponds is complete;
-liner installation in pad area is complete;
-water reticulation systems are complete;
-electrical power supply systems are complete;
-construction of plant area and main process structures is complete; and
-final piping and commissioning has been initiated.

Once construction is complete, the plant will be commissioned and leaching will start.

Production drilling

Infill drilling (five-metre by 10-metre centres) in the starter pit area at the El Sastre main zone is complete. Numerous high-grade intersections were encountered, including:

GC 27 -- 5.0 grams per tonne gold over 6.3 metres;
Expl 01 -- 4.9 grams per tonne gold over 8.4 metres;
GC 04 -- 4.0 grams per tonne gold over 5.0 metres; and
Expl 03 -- 3.7 grams per tonne gold over 4.5 metres.

These drill data were used to generate detailed starter pit designs and production schedules for first phase mining activities.

"We are proud of the fact that, although we are a relatively small public company, we are now on the verge of becoming only the second gold producer in Guatemala," stated Darren Koningen, PEng, vice-president -- engineering for Aurogin. "We are also extremely pleased with the progress achieved to date at the construction site, which is a real tribute to the quality of the team we have assembled," he added. Mr. Koningen is the qualified person under National Instrument 43-101 standards for the project.

[Tackler]

Globe says mining giants rumoured to be eyeing Skye

2006-09-11 06:36 ET - In the News

The Globe and Mail reports in its Monday edition that Companhia Vale do Rio Doce, BHP Billiton and Xstrata are turning their acquisition sights to smaller Canadian base metal miners amid a shortage of new nickel supplies. The Globe's Andy Hoffman and inside poopmeister Andrew Willis write that unnamed sources say the global mining giants are considering bids for Vancouver's Skye Resources. CVRD's interest in Skye is the most advanced. CVRD is believed to be preparing a bid that could be in the range of $20 a share. BHP, however, may have the upper hand. BHP already has a 16.5-per-cent interest in Skye, which is developing the Fenix nickel project in Eastern Guatemala. BHP has its own operations in the country close to the Fenix project. Skye shares jumped 50 cents to $16.20 Friday in Toronto Friday. Skye stock was trading in the $3 range at the beginning of the year. Skye's market capitalization is $477-million. The Vancouver firm expects to produce up to 25 million pounds of nickel from the Fenix project a year beginning in 2008. The company says Fenix could produce up to 50 million pounds of ferro-nickel a year thereafter. Xstrata is mum on its possible interest in Skye.

[Tackler]

The following story is from minesite http://www.minesite.com
Date: June 02, 2006
Firestone Ventures Is Taking A Big Bet On Its Torlon Hill Zinc Project In Guatemala
It was a bold move by Lori Walton, chief executive of Canadian listed Firestone Ventures, to go to Guatemala back in 2004. Hitherto all her experience had been in Canada where she had been Senior Mineral Development Advisor for the Yukon government before joining Firestone. But she had been attracted to zinc in the early days of the cycle and is now delighted to have been proved right by the price movement of the metal and the recent statement from Anders Haker, chief financial officer of Lundin Mining, at Metal Bulletin’s recent Zinc Seminar. According to Reuters he started his talk with a forecast that “Demand for zinc will outstrip supply until at least 2010, making it worthwhile investing in new projects despite geopolitical risks. In fact she was delighted with all she found in Guatemala where her company’s Torlon Hill zinc project is situated. Guatemala is situated in Central America with Mexico to the north west and Honduras and El Salvador to the south east. It is a peaceful, democratic country with a good mining law and Ms Walton has forged good relations with its governmental authorities. The project itself is near the Pan American Highway and 12 kms from the city of Huehuetenango so infrastructure is within reach. Redhawk Resources and AIM listed ZincOx Resources carried out some exploration in 2000-2001 and sampling and mapping on the property have confirmed their exploration data. Zinc mineralization in the form of Smithsonite extends over a 100 metre by 700 metre are called the Santa Rosa Corridor which is buttressed by two sheets of high grade mineralization. A fourteen hole drilling programme has been carried out there this year and in March Firestone announced the result of the first six holes. The intention of this programme was to evaluate the zinc mineralization in order to produce a resource estimate. All six holes intersected mineralization and one averaged 22.0% zinc over 33 metres including a 17.1 metre interval grading 31.9% zinc. The consulting firm Watts Griffis and McOuat saw many similarities with the Angouran deposit in Iran where it has been working for five years. This has a resource of more than 25 million tonnes grading approximately 25% zinc and 1-2% lead. Earlier this month the company announced the results from the last eight holes which included an intersection of 46.7 metres grading 12.5% zinc and included 24 metres at 17.9% zinc. A limited amount of metallurgical testwork has been carried out to date, but it looks as if the Torlon Hill zinc may be suitable for new processing technologies which can produce zinc at low cost. The company raised money in London and Calgary towards the end of last year and has C$5 million in the kitty following a further funding in April, so more drilling is planned later this year. Lori Walton describes Torlon Hill as the company’s prime asset , but back in South Yukon it is also earning an 80 per cent interest in the Sonora gold property. The
company was attracted to it by its multiple styles of gold mineralization, geological setting and intriguing gold-bismuth-tellurium geochemical signature. It lies midway along the Dawson Range Gold Belt which hosts historically important gold and copper mines and deposits and previous explorers focused on copper. Placer gold mining has operated periodically on streams draining the Sonora property and Firestone is seeking the source encouraged by angular gold nuggets which have been recovered from placer concentrates. Phase One exploration has now begun with 13 kilometers of geophysical surveying to extend the coverage provided geophysic programme undertaken last autumn, followed by a surface exploration program consisting of geological mapping, soil and silt sampling and chip sampling. Phase Two will consist of data compilation and review, followed by a diamond drill program scheduled for September to test for intrusion-related gold mineralization. In addition to these two projects Firestone Ventures also has a 100 per cent interest in the Alberta Sun project in Southern Alberta which is prospective for roll-front uranium deposits . Initial surface exploration has produced positive results and it will continue with a drill programme planned for later this year. The company has also signed a Letter of Intent to option the Morris gold-silver-antimony property in British Columbia to MacLellan Mining Group. Lori Walton therefore will have much to talk about when she is in London again later this month and attendees at our 33rd Minesite Mining Forum on 20 June will be able to meet her there. Companies featured in this Story Zincox Resources Plc (AIM-ZOX) Sonora Gold Corp (TSX.V-SGG) Firestone Ventures Inc (TSX.V-FV)

[Tackler]

Aurogin expects first gold pour at El Sastre in Q4 2006

2006-05-15 10:14 ET - News Release

Mr. Greg Taylor reports

AUROGIN UPDATES EL SASTRE GOLD PROJECT

Aurogin Resources Ltd. has provided a progress review on its El Sastre gold project in Guatemala.

Leach pad construction

Construction of the company's heap-leach pad at its El Sastre Main zone (see April 11, 2006, news release in Stockwatch) is progressing, with approximately one-third of the projected completed to date:


the key construction and operating team has been assembled;
earthworks required for plant construction are substantially complete and the earthworks construction phase of the pad area has commenced;
pond and pad liners are expected to be delivered shortly, with installation planned for June;
detailed design has been completed and orders have been placed for long-lead-time items; and
overburden is being removed from a section of the El Sastre Main zone in preparation for mining.

The company is currently projecting a first gold pour during the fourth quarter of calendar 2006. Following a ramp-up phase, Aurogin expects to reach a production rate of at least 20,000 ounces of gold per year during 2007.

Exploration

Exploration drilling at the Bridge zone is continuing, although the rate of progress has been hampered by equipment and crew availability. Partial results from the first two holes have been received and showed anomalous gold values. Cumulative detailed results will be announced once they are available.

The company is sourcing additional drill support and expects to commence a program at the El Arenal zone to establish a National 43-101-compliant resource estimate. El Arenal is located two kilometres southeast of the El Sastre Main zone and 2.6 kilometres southeast of the company's Lupita zone. Gold found at El Arenal is fine grained and similar, metallurgically, to the El Sastre Main zone. This is significant not only in regard to the leachability of the material, but because it supports the theory that the El Arenal and El Sastre Main zones may be connected. Metallurgical testing by SGS Lakefield Research Ltd. on a composite sample from El Arenal zone demonstrated gold recoveries in excess of 98 per cent after 14 days.

[Tackler]

More results tomorrow.

[Tackler]

Goldex finds high-grade gold samples at El Pato

2006-05-31 16:46 ET - News Release

Mr. Richard Bybee reports

GOLDEX ANNOUNCES HIGH GRADE SURFACE RESULTS AND SITES NEW DRILL TARGETS

Goldex Resources Corp. has released more results from its El Pato project, Guatemala.

The most recent results from 193 rock outcrop and float samples collected in three of the new vein sectors continue to show encouraging results. The three sectors of interest are El Sauce, El Jabillo and El Poxte.

In the El Sauce sector, the results for 102 samples have been received and a second mineralized vein structure has been identified. Of the 102 samples:

-14 were greater than 40 grams per tonne gold over sample lengths of one to six metres;
-22 contained five grams per tonne to 30 grams per tonne gold over sample lengths of 0.4 to four metres; and
-26 returned values of 0.5 gram per tonne to five grams per tonne gold over sample lengths of 0.4 to five metres.

In the El Sauce sector two drill targets are now being developed by continued detailed mapping and sampling of hand-cut trenches.

In the El Jabillo sector, two mineralized vein structures are now identified by the latest assay results. Of the 61 samples received:

-two contained greater than 40 grams per tonne gold;
-10 contained values of five to 30 grams per tonne gold; and
-29 returned values of 0.5 to five grams per tonne gold.

Sample lengths are from 0.5 to six metres.

In the El Poxte sector, two mineralized vein structures are now identified with grades above two grams per tonne gold. Of the 30 samples:

-four samples contained 15 grams per tonne to greater than 40 grams per tonne gold; and
-nine returned values of 0.5 to five grams per tonne gold.

Sample lengths are generally 0.5 metre.

Drill targets will now be developed in the El Jabillo and El Poxte sectors by continued detailed geologic mapping as well as sampling of hand-cut trenches. The mineralized vein structures previously identified by sampling in the Bella Vista sector will also be mapped and trench sampled to develop drill targets.

Analytical work for the current exploration program is being done by BSI Inspectorate of Reno, Nev., an ISO-certified lab, and all samples are delivered to the BSI sample preparation lab in Guatemala City by Goldex geologists.

The qualified person for Goldex is Richard Bybee, PGeo, who is responsible for the verification and quality assurance of the data set forth in this release.

[Tackler]

Managed to get some more at .46 a few days ago, an order I lost track of, think it will work out though.

[Tackler]

Blue Sky Mining!

[Tackler]

Looking to see news about drilling soon...

"The district-wide reconnaissance will continue into early 2006, but will also include more detailed mapping and sampling within the new prospect areas, with the intent of defining drill targets."

[Tackler]

Goldex Resources closes $3.99-million financing

Pro groups on the private placement include:

Sprott Asset Management Inc., four million shares;
RAB Special Situations (Master) Fund Ltd., two million shares;
CIBC Securities -- Precious Metals, two million shares;
Ian Gordon, 400,000 shares;
Rick Pogue, 32,000 shares;
Jay Dowhaniuk, 20,000 shares; and
Steve Asaoka, 24,000 shares.

[Tackler]

GDX 3yr...

[Tackler]

Guatemala needs this...

Firestone cuts 33 m grading 22% zinc at Torlon Hill

2006-03-29 10:13 ET - News Release

Ms. Lori Walton reports

FIRESTONE VENTURES INTERSECTS 33 METRES GRADING 22% ZINC AT TORLON HILL

Firestone Ventures Inc. has released the results from the first six drill holes at the company's Torlon Hill zinc project in Western Guatemala. The road-accessible Torlon Hill project is located 12 kilometres northwest of the city of Huehuetenango, situated on the Pan-American Highway. The objective of the 20-hole, 1,500-metre drill program is to evaluate the areas of (oxide) zinc mineralization toward preparation of a National Instrument 43-101 resource estimate.

Highlights from the drill results include:


hole TH06-1 intersected 28.8 metres of 11.2 per cent zinc, including a 15.7-metre interval of 17.4 per cent zinc;
hole TH06-2 intersected 33 metres of 22 per cent zinc, including a 17.1-metre interval of 31.9 per cent zinc; and
hole TH06-3 intersected three zones of mineralization, including 16.1 metres of 8.9 per cent zinc, 5.9 metres of 4.7 per cent zinc and 11.4 metres of 6.9 per cent zinc.

All six holes intersected the mineralized zone, which lies above a well-defined serpentinite basement. Of 245 samples analyzed, 14 samples returned greater than 30 per cent zinc, with up to 43 per cent zinc. To date, 16 holes have been completed, at 15-metre to 40-metre spacing. A map showing drill hole locations is available on the company website. A table listing mineralized intervals from all six holes is attached.

"These first six holes were drilled at close spacing in an area of high-grade zinc mineralization locally exceeding 40 per cent zinc exposed on surface," says Lori Walton, president of Firestone Ventures. "It was our intention to test the continuity of mineralization exposed at the surface and these holes have done so spectacularly."

According to Consultants Watts, Griffis and McOuat Ltd. (WGM), the high zinc grades discovered at Torlon Hill are consistent with high grades also found in the Angouran mine in Iran, where WGM has been working since 2001. Angouran is a deposit of about 25 million tonnes, grading approximately 25 per cent zinc and 1 to 2 per cent lead. Both Angouran and Torlon Hill are carbonate-hosted deposits and have a strong structural control. This is in contrast with the Jabali Mississippi Valley oxide-zinc deposit in Yemen where WGM's 1992 drilling resulted in a resource of about 10 million tonnes grading 10 per cent zinc and 1.5 per cent lead. Torlon's structural control also differs somewhat from the Skorpion mine, Namibia, which is a 21-million-tonne zinc-oxide deposit grading 11 per cent zinc. WGM believes that the strong structural element at Torlon is an essential element in developing these unusually high grades.

At Torlon Hill, the high-grade mineralization, containing in excess of 10 per cent zinc and locally 30 to 43 per cent zinc, occurs within a pervasively mineralized tectonic crush zone containing less than 10 per cent zinc. Zinc mineralization is exposed for over 700 metres along the Santa Rosa corridor. The spring, 2006, drill program is testing the central portion (the Bulge) covering a 200-metre-by-100-metre area. The mineralized areas are locally accessed through narrow workings excavated by local miners. There is excellent potential for expansion of the high-grade zinc mineralization to the north and south of the area being drilled. In addition, there are indications of high-grade zinc mineralization on the far west side of Torlon Hill.

Laboratory analysis and quality control

Sample preparation was described in Stockwatch on March 2, 2006. Following preparation, 200 to 250 grams of pulverized sample is shipped by air courier directly to ALS Chemex, North Vancouver, B.C., for analysis.

ALS Chemex is an ISO-9002-registered laboratory. Samples are subject to a four-acid digestion and are analyzed for 27 elements by ICP-AES. Zinc and lead analyses over the limits are further analyzed by atomic-absorption methods. The upper limit for zinc is 30 per cent. Samples which contain in excess of 30 per cent zinc are reanalyzed using titration. This multistage analytical procedure, while more costly, ensures that an appropriate laboratory method is used to produce reliable data at each lead or zinc concentration level. It also offers repeat analyses to protect against gross analytical error. Industrial standards are not being inserted by Firestone at this time. ALS Chemex and Firestone are both routinely inserting blank samples for quality control purposes. Selected coarse rejects from high-grade samples will be reanalyzed at a later date by another laboratory as part of the compositing process to produce material for metallurgical testing.

Firestone Ventures has an option to purchase a 100-per-cent interest in the 16-hectare Torlon Hill property from the owners, and has also acquired the surrounding 134-hectare Orbita exploration concession.

This news release has been reviewed and approved by John Cleary, CPG, RG, qualified person for the Torlon Hill project, and by Al Workilometresan, vice-president of WGM. For a fact sheet on the Torlon Hill project, photos, a National Instrument 43-101 technical report and a new FAQ sheet on zinc, please visit the company wesbite.

 
  
     TORLON HILL MINERALIZED INTERVALS 
         HOLES TH06-1 TO TH06-6 
        (all holes are vertical) 
  
 Hole  Depth  From    To   Int.   Zn   Pb 
 TH06-    m     m      m    m      %    % 
  
 1      33.0   0.0  28.8  28.8  11.2  1.9 
 incl.         0.0  15.7  15.7  17.4 
  
 2      57.9   0.0  33.0  33.0  22.0  1.4 
 incl.         0.0  17.1  17.1  31.9  1.8 
  
 3      45.5   0.0  16.1  16.1   8.9  2.7 
              24.1  30.0   5.9   4.7 
              33.5  45.1  11.4   6.9  2.5 
  
 4      80.8   7.1  11.1   4.0   3.8  4.7 
              33.4  51.2  18.0   4.6  0.9 
              62.1  75.2  10.2   3.0  1.5 
  
 5      79.2   1.5  41.0  39.5   5.7  2.2 
                    45.0  53.0   8.0  2.3 
  
 6      73.2  38.1  41.1   3.0   3.9  2.7 
              44.2  48.8   4.6   2.4  0.5 
              65.5  68.0   2.5   3.0  1.0 
  
 

Note: Ag values are generally less than 10 grams per tonne, but range up to 68.1 grams per tonne.

[Ed Monton]

http://www.truestar-petroleum.com/guatemala.html

[Ed Monton]

Aurogin Completes 43-101 Report on Lupita & Bridge Zones

TORONTO, ONTARIO--(CCNMatthews - Feb. 24, 2006) -

Lupita Inferred Resource Estimated to be 518,000 Ounces

Aurogin Resources Ltd. ("Aurogin") (TSX VENTURE:AUQ) is pleased to announce that it has completed a 43-101 Technical Report on the Lupita and Bridge Zones of its El Sastre Gold Project located 30 km northeast of Guatemala City. The Report, which has been filed on SEDAR and on Aurogin's web site, was prepared by Neil Gow (P. Geo.) of Cargill Consulting Geologists Limited ("Cargill"), an Independent Qualified Person under NI 43-101 standards.

Lupita Zone

Cargill has estimated the inferred resource at Lupita to be 13 million tonnes grading 1.24 g/t Au for 518,000 ounces of contained gold. Assay results from over 900 metres of reverse circulation drilling from seven drill holes were used in the estimates.

The Lupita Zone, located 600 metres west of Aurogin's El Sastre Main Zone, is flat lying and consists of hydrothermal quartz with minor disseminated sulphides in phyllites. Aurogin, which is earning a 70% interest in Lupita (see Aurogin press release #2005-11, September 20, 2005), is currently conducting metallurgical testwork on Lupita samples to examine processing alternatives.

The project wide 43-101 resources now stand at 54,000 ounces of indicated resource at the El Sastre Main Zone, and 635,000 ounces of inferred resource (including 117,000 ounces at the El Sastre Main Zone; see Aurogin press release #2005-5, March 29, 2005). The Lupita Zone is open for extension both along strike and at depth.

"With the Lupita resource estimate, we have quadrupled the 43-101 gold resources at the El Sastre Project, and are well on our way to defining our target of one million ounces of gold in the four known Zones" said John H. Paterson, P.Eng., President and CEO of Aurogin. "We are very excited about Lupita's economic potential. Given its extremely low strip ratio and its proximity to El Sastre, mining costs are expected to be very low."

Bridge Zone

Aurogin has an option to earn a 70% interest in the Bridge Zone, located immediately west of the Lupita Zone. The Bridge zone consists of gold mineralization related to hot springs that are actively depositing sulphur at the vent site. The underlying geology is comprised of friable carbonaceous argillite overlain by Tertiary felsic tuff and quaternary ash.

Exploration on the Bridge Zone traced the mineralization over a 600 metre by 300 metre area before it disappeared under ash cover. Channel and trench samples within the mineralized unit at the Bridge zone returned gold values in the range of 2.0 to 4.0 grams of gold per tonne over significant widths, including 3.59 grams of gold per tonne over 85 metres. The tuff units overlying the hot spring sites are locally silicified and sulfidized with anomalous gold and silver values.

Previous drilling conducted by Radius and Goldfields at the Bridge zone intersected significant mineralization including:

- 146.3 metres grading 0.56 grams of gold per tonne;

- 19.8 metres grading 7.29 grams of gold per tonne beginning at surface; (including 6.1 metres grading 14.49 grams of gold per tonne).

Cargill considers that the character of the Bridge zone merits further exploration. Aurogin plans to carry out additional drilling to examine a number of targets including an area to the southeast of the zone where recent surface sampling returned values of 8.0 grams of gold per tonne from 4.0 metre wide calcite veins. A drill program is expected to begin March 1st.

Aurogin Resources Ltd., a TSX Venture Exchange listed company ("AUQ"), is an emerging gold producer focused on the acquisition and development of profitable gold deposits in the Americas. Further information can be found on Aurogin's web site at: www.auroginresources.com.

Aurogin Resources Ltd. Listed: 'AUQ' - TSX Venture

Issued: 43,205,721 common shares

[Tackler]

You had to remind me didn't you.

[Ed Monton]

SKR big move since September.

[Ed Monton]

Pathfinder Resources Ltd., Gold-Ore Resources Ltd. and Santoy Resources Ltd.: Uranium Syndicate Commences Exploration Program in Guatemala

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 17, 2006) - Pathfinder Resources Ltd. (TSX VENTURE:PHR), Gold-Ore Resources Ltd. (TSX VENTURE:GOZ) and Santoy Resources Ltd. (TSX VENTURE:SAN) (the Syndicate) report that a uranium exploration program has commenced on recently acquired mineral concessions in Guatemala. The two contiguous concessions cover 169 square kilometres.

The Phase I program is underway and consists of prospecting and geochemical sampling in areas of known uranium mineralization. The prospective areas within the concessions have seen two uranium exploration programs starting with the United Nations Development Program in the early 1980's. During the period 1987 to 1991, the Mining Technical Mission from Taiwan completed detailed programs that culminated in the drilling of five diamond drill holes. A number of uranium occurrences were located.

The Syndicate has approved a program that will allow a geological prospecting team to carry out a first pass review of the known showings and prospect for new occurrences. Fieldwork by the Syndicate in 2005 verified the location of some of the documented occurrences of uraniferous outcrops and boulders. Samples collected by the Syndicate from boulders of petrified wood returned values of 0.19% and 0.22% U3O8. An outcrop sample from a conglomerate unit returned a grade of 0.13% U3O8.

The uranium occurrences in Guatemala belong to the class "sediment-hosted" uranium similar to the Blizzard deposit in southern British Columbia and the Honeymoon deposit in South Australia. In this model, ground waters leached uranium from surrounding and overlying uranium rich volcanic rocks and deposited it in porous and permeable sedimentary units, where a reducing environment was created by organic material. Deposits formed by these processes are often amenable to in-situ leaching which significantly decreases the cost of production and the environmental impact of mining.

Under terms of the Syndicate Agreement, Santoy and Pathfinder can each earn a 33.33% interest in the property by spending CDN$500,000 each over a 4 year period. Gold-Ore holds 100% interest and is carried until the CDN$1,000,000 is spent and then a joint venture will be formed. Gold-Ore is operator for the Syndicate and all programs are subject to approval by a management committee. Robert S. Wasylyshyn, P. Geo. is the Qualified Person for the Syndicate.

ON BEHALF OF THE BOARDS OF DIRECTORS

Victor A. Tanaka, President

Pathfinder Resources Ltd.

Glen Dickson, Chairman

Gold-Ore Resources Ltd.

Ron Netolitzky, President

Santoy Resources Ltd.

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

[Tackler]

That new years day cross over was the ticket.

[Tackler]

I hope thier sitting on the mother lode.

[johnlw]

Firestone begins Torlon Hill winter exploration

2006-01-16 09:19 ET - News Release

Ms. Lori Walton reports

FIRESTONE VENTURES BEGINS 2006 EXPLORATION AT TORLON HILL ZINC PROJECT

Firestone Ventures Inc. has started its 2006 winter exploration program as scheduled at the company's Torlon Hill zinc project, western Guatemala. The road-accessible Torlon Hill project is located 12 kilometres northwest of the city of Huehuetenango, situated on the Pan-American Highway in western Guatemala.

Recommendations based upon a recently completed independent project review by consultants Watts, Griffis and McOuat Ltd. (WGM) have been integrated into the exploration program and drill plan for the property. A total of $500,000 has been allocated for the winter 2006 Torlon Hill program.

The surface exploration program, currently under way, focuses on further expansion of the known zinc-bearing zones, and includes mapping and prospecting, soil sampling, preliminary environmental baseline surveying, and collection of bulk samples of mineralized materials.

Diamond drilling will commence by mid-February, 2006. The objective of the drill program is to evaluate the areas of known zinc mineralization toward preparation of a National Instrument 43-101-compliant resource estimate. A total of 20 diamond drill holes 50 to 100 metres in depth and spaced at 15- to 40-metre intervals are planned to delineate the high-grade zinc mineralization within the central Santa Rosa corridor. In addition, Firestone is planning two deep exploratory holes at the historical La Canada adits, 150 metres west of the main Santa Rosa workings. The intersection of new mineralization in this area would represent a considerable expansion of zinc potential at Torlon Hill.

"Market conditions for zinc have improved considerably since the acquisition of Torlon Hill by Firestone Ventures Inc.," says Lori Walton, president of Firestone Ventures. "Sustained high rates of economic growth in China and other Asian countries, and a 39-per-cent decline in zinc stockpiles over the past year are fuelling the demand for zinc. The price of zinc has increased from 35 U.S. cents per pound four years ago to over 90 U.S. cents per pound today."

[Tackler]

FV...

[Ed Monton]

Aurogin Announces Results of Metallurgical Program and Initiates Major Drill Program

TORONTO, ONTARIO--(CCNMatthews - Jan. 9, 2006) - Aurogin Resources Ltd. ("Aurogin")(TSX VENTURE:AUQ) is pleased to report that it has received very encouraging results from the most recent phase of metallurgical test work at SGS Lakefield Research Limited in Lakefield, Ontario, Canada ("SGS Lakefield").

As part of ongoing detailed engineering efforts for the El Sastre Project ("El Sastre") in Guatemala, four representative samples were sent to SGS Lakefield for advanced gold leaching studies. The samples were subjected to modified bottle roll tests used to simulate heap leach conditions. Results demonstrated high gold recoveries of 90% to 96% after 14 days with typical reagent consumptions (0.4 to 0.7 kilograms per tonne of cyanide and 1.4 to 3.6 kilograms per tonne of lime). Leach kinetics were found to be extremely rapid. Final leach solutions were analyzed and found to contain negligible levels of deleterious impurities.

Darren Koningen, P.Eng., Vice-President of Engineering for Aurogin, is the Qualified Person as defined under National Instrument 43-101 responsible for all engineering work at El Sastre. "These results confirm that El Sastre gold is fine-grained and consistent with our expectations for a low-cost, high-recovery heap leach operation." Mr. Koningen noted. "The gold leached very quickly; averaging 88% recovery in the first 24 hours." he added.

Aurogin's El Sastre Project is high-grade, near-surface oxide gold deposit with environmental permits in place. Aurogin's Guatemalan holdings include three other gold zones in the immediate El Sastre area. The Company is currently embarking on an aggressive drilling program aimed at expanding the known resource and bringing the others into NI 43-101 compliance. Management believes the zones are part of a large gold system with the potential to host +1.0 million ounces.

Aurogin Resources Ltd. is a TSX Venture Exchange listed company focused on near term gold production from its Guatemalan Project. Further information can be found on Aurogin's web site at: www.auroginresources.com.

Aurogin Resources Ltd. Listed: 'AUQ' - TSX Venture

Issued: 43,105,721 common shares

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.

[Tackler]

Firestone plans Torlon Hill diamond drill program

2006-01-05 06:19 ET - News Release

Ms. Lori Walton reports

FIRESTONE VENTURES RECEIVES POSITIVE INDEPENDENT REVIEW OF TORLON HILL ZINC PROJECT

Firestone Ventures Inc. has received a positive independent review of the Torlon Hill zinc project by Watts, Griffis and McOuat Ltd. The results are being used to design a diamond drill program planned for early 2006. The road-accessible 16-hectare (39.5-acre) Torlon Hill project is located 12 kilometres northwest of the city of Huehuetenango, situated on the Pan-American Highway in western Guatemala.

Watts, Griffis and McOuat Ltd. (WGM) was retained to carry out an independent review of the Torlon Hill oxide zinc project, for the management of Firestone Ventures. WGM is a Toronto-based firm of independent consulting geologists and engineers that has been serving the Canadian and international mining community for over 40 years, with extensive expertise in many areas of mine development including mineral property valuation, due diligence studies, institutional strengthening and mineral resource/mineral reserve estimation.

The Torlon deposit is an intensely oxidized, carbonate-hosted zinc-lead (plus silver) sulphide deposit in which little of the original sulphide phases are preserved. The deposit is currently the centre of artisanal miners who are mining relic galena in the oxidized zone.

From the prevalence of smithsonite, a zinc-carbonate mineral, WGM concludes that the Torlon Hill deposit is mineralogically similar to much of the Jabali zinc deposit in Yemen and the Angouran zinc deposit in Iran. During 1992, WGM's drilling and subsequent feasibility study at Jabali proved the continuity of ore in that deposit. WGM has been working at Angouran since 2001.

WGM found that, unlike Jabali, mineralization at Torlon is primarily controlled by structure (like Angouran), and that the deposit is likely to be higher grade than Jabali. WGM states that the Torlon Hill zinc project represents a substantial, untested exploration target with good potential to develop into an economically viable deposit.

"We are very pleased with the results of the independent project review of Torlon Hill by WGM. Their review will certainly help us in designing the upcoming diamond drill program," says Lori Walton, president of Firestone Ventures. "The long-term demand for zinc is very strong -- the price of zinc has increased from 53 U.S. cents per pound in early 2005 to today's price of 87 U.S. cents per pound."

This news release has been reviewed and approved by J. Cleary, CPG, qualified person for the Torlon Hill project, and by Watts, Griffis and McOuat Ltd.

[Tackler]

Share the wealth, Emergency Aid for Guatemala

For the next six months (Nov./05-Apr./05) the Guatemala Stove Project (GSP) will be redirecting its fundraising efforts towards emergency aid for the victims of Hurricane Stan. This decision was agreed upon by both the Board of Directors and the general membership, at the Annual General Meeting October 16/05.
We have been in touch with our partners in Guatemala at CEDEC and the Ixchel Womens' Project, both located in the Quetzaltenango (Xela) area. Xela is Guatemala's second-largest city, and at the centre of one of the heavily affected areas. They tell us that while there was not mass destruction as in Panabaj, most of the communities they work in were affected, and many houses were destroyed. Most of the communities the Guatemala Stove Project has worked in are remote areas of the Western Highlands, where the storm has had the most devastating impact. These communities are made up of the some of poorest people in Guatemala and they are receiving very little aid. The government aid is going primarily to the southern regions, and little if any to the indigenous towns There are great needs for support to rebuild housing particularly. There are also serious ongoing problems in the area with shortages of food, gasoline, and water; and related price gouging.
We have been in touch with numerous individuals and groups in Guatemala by email and phone over the last week, and have been watching press coverage of the response to the disaster. In general while the situation is very difficult and resources are limited, the response has been well-organized and aid is coming in. Bridges are being rebuilt, roads are very slowly being reopened, and telephone service is slowly coming back to normal However, many communities are still isolated and there is a huge amount of work to be done.

The effort has now shifted from rescue and recovery to reconstruction, and the needs for support in this work are great and will be present for a long time. Official statistics from CONRED, Guatemala's federal disaster relief agency, show over 10,000 homes damaged or destroyed, with 140,000 people staying in 750+ shelters and a total of 1.5 million people affected. The actual totals are likely higher. Many groups are working to provide aid, ranging from the Guatemalan, US, and many other governments, to major NGOs like the Red Cross and Oxfam, to dozens of smaller groups such as ourselves.
Our partners have sent us the following list of needs from the villages hardest hit by the hurricane in the western highlands, within the area where the GSP operates.
The towns in need of emergency aid are:
*Palestina de los Altos 200 families *Xecalbal 150 families
*San Andres Xecul 100 families *Xecaracoj 100 families
Zunil 200 families *San Martin 200 families
*Pacutama 140 families *Tzanjuyup 125 families
*Chuicutama 35 families *Pasacuach 35 families
These communities need:
HOUSES, STOVES, FOOD SUPPLIES (INCLUDING POTABLE WATER, CORN, BEANS, OIL, SUGAR, CEREAL, RICE) FOR A MINIMUN OF 20 DAYS OR 3 WEEKS.
MEDICINE;( INCLUDING ANTIBIOTICS), BLANKETS AND/OR SLEEPING BAGS, PERSONAL HYGIENE SUPPLIES SOAP, COMB, BRUSH, NAIL CLIPPERS
GAS FOR TRANSPORTATION AND MOBILE CLINIC
As you can see, the need is great and any and all financial support is appreciated.
Donations can be made to the Guatemala Stove Project and mailed to RR#4 Perth ON K7H 3C6 or donate online at: http://www.guatemalastoveproject.org .Please include your name and address for income tax purposes, receipts will be issued for donations over $20.

WE AND OUR GUATEMALAN PARTNERS SINCERELY THANK YOU FOR YOUR CONTINUED SUPPORT, EXPECIALLY IN THIS TIME OF NEED.

[Tackler]

Skye finds 2.67 per cent Ni over 16.3 m at Fenix

2005-09-15 15:44 ET - News Release

Mr. Colin McKenzie reports

SKYE CONTINUES TO CONFIRM HIGH GRADES ON ITS FENIX PROJECT

Skye Resources Inc. has provided further assay results from the core drilling program on its Fenix ferro-nickel (Ni) project in Guatemala. By the end of August, 424 holes totalling 11,475 metres of drilling had been completed.

Assay results received during July from the twin-hole component of the drilling program are included in table 2. The twin-hole program targeted the previously mined area 212, and the adjacent 213 and 217 areas. Assays have now been received for all but two holes of this twin-hole program.

Highlights from the reported assays are as follows:

Area 212:

hole 30049 -- 16.2 metres grading 2.67 per cent Ni; and
hole 30089 -- 12.7 metres grading 2.52 per cent Ni

Area 213:

hole 32010 -- 5.6 metres grading 2.11 per cent Ni

Area 217:

hole 30056 -- 10.2 metres grading 2.47 per cent Ni
hole 30057 -- 11.7 metres grading 2.50 per cent Ni
hole 30064 -- 22.4 metres grading 2.23 per cent Ni
hole 30086 -- 10.1 metres grading 2.28 per cent Ni

Skye is continuing the infill component of the drilling program on the property with six drills working in areas 217 and 251. The 35-metre to 45,000-metre drilling program will furnish data for new resource estimates to be carried out by Snowden Engineering Ltd. as part of the Fenix feasibility study.

Dr. Paul Golightly, PGeo, is the independent qualified person, as defined under National Instrument (NI) 43-101, responsible for the quality control and verification of the data contained in this release. Details of the procedures for logging, sampling, assaying and quality control measures are given on the company's website.

Mineralized intercepts are herein reported using a 1.5-per-cent Ni cut-off to allow for comparison with the original holes. The intercepts are averages weighted by sample length and a calculated density. New resource and reserve cut-off grades will be determined by Skye Resources during the course of its feasibility study of the Fenix project (see Feb. 28, 2005, news release in Stockwatch: Feasibility study to commence immediately; 45,000-metre drill program commences).

 
                 TABLE 1 
    DISTRIBUTION OF ALL HOLES DRILLED 
  
 Area       No. of      Holes      Metres 
            holes        with 
                       results 
 Twin 
 holes        212         55       1,987 
              213         11         250 
              217         38       1,325 
 Infill 
 holes        217         69       2,519 
              251        251       5,394 
 

 
   ASSAY RESULTS FOR TWIN-HOLE PROGRAM  
           RECEIVED IN JULY(i) 
  
 Area   Hole    From     To  Length   Ni 
         No.     (m)    (m)   (m)    (%) 
  
 212    30029    16.9   28.5  11.7   2.47 
 212    30043    19.0   27.3   8.3   2.04 
 212    30049    13.8   30.0  16.2   2.67 
 212    30050     1.2   15.8   9.8   2.40 
 212    30051     6.6   25.0  18.4   1.96 
 212    30088    11.1   29.8  18.7   2.27 
 212    30089    12.0   24.7  12.7   2.52 
 212    30090     9.6   15.5   5.9   2.11 
 212    30091     5.8   27.6  21.9   1.80 
 213    32010     2.8    8.4   5.7   2.11 
 217    30052    32.0   38.8   6.8   1.75 
 217    30053    13.4   29.3  15.9   2.01 
 217    30054    13.2   21.8   9.7   1.57 
 217    30055    17.9   27.0   9.1   2.03 
 217    30056    19.7   29.9  10.2   2.47 
 217    30057     8.3   20.0  11.7   2.50 
 217    30058    38.9   46.0   7.2   1.75 
 217    30059    20.0   27.3   7.3   2.20 
 217    30060     9.1   19.0   9.9   1.77 
 217    30061    14.8   22.9   8.1   1.97 
 217    30062    16.7   26.2   9.5   2.13 
 217    30063    25.0   33.5   8.5   1.89 
 217    30064    14.0   36.4  22.4   2.23 
 217    30065     0.7    8.3   7.6   2.10 
 217    30066   No significant intercepts 
 217    30067    18.0   27.7   5.4   2.08 
 217    30068     7.2   13.1   5.9   1.54 
 217    30069    11.4   27.1  12.4   1.72 
 Incl.           12.2   18.4   6.2   2.30 
 217    30070    12.3   28.1  15.8   1.82 
 217    30072    20.1   30.5  10.4   1.41 
 217    30073     9.6   15.0   5.4   2.30 
 217    30074     9.7   23.5  13.8   2.26 
 217    30075     3.6   17.8  14.2   1.59 
 217    30076    12.2   28.8  16.7   1.73 
 217    30077    17.4   25.6   8.2   1.68 
 217    30078     3.2   23.4  20.2   1.86 
 Incl.            4.4   12.5   8.1   2.16 
 217    30079    19.8   32.5  12.8   2.01 
 217    30080    14.6   22.4   7.8   2.02 
 217    30081    15.5   23.4   8.0   1.98 
 217    30082    20.5   30.4   9.9   1.86 
 217    30084    19.5   27.8   8.3   1.75 
 217    30085     5.9   13.8   7.9   1.74 
 217    30086     6.1   29.5  23.4   1.89 
 Incl.            6.1   16.2  10.1   2.28 
 217    30087     5.1   16.5  11.4   1.76 
 

(i) Additional twin-hole assays were reported in the news release in Stockwatch dated Aug. 3, 2005.

[Tackler]

Inco acquires 500,000 shares of Skye Resources

2005-08-26 17:11 ET - News Release

See News Release (C-N) Inco Ltd


Mr. Steve Mitchell of Inco reports

INCO LIMITED INCREASES ITS INVESTMENT IN SKYE RESOURCES INC.

Inco Ltd. has acquired 500,000 common shares of Skye Resources Inc., increasing its holdings in Skye to 2,888,101 common shares and 250,000 warrants to acquire common shares, representing approximately 13.3 per cent of Skye's outstanding common shares (assuming exercise of the warrants held by Inco).

Inco acquired its original holdings of 2,388,101 common shares of Skye pursuant to a transaction, which closed on Dec. 15, 2004, whereby Skye acquired Inco's 70-per-cent indirect interest in its former Exmibal project in Guatemala. During a five-year option period, Skye will evaluate the technical and economic feasibility of developing this project. If Skye exercises its option to proceed with such a project, a subsequent closing will occur where it will pay Inco $3.5-million (U.S.) and issue additional common shares as outlined below, and Inco will transfer certain surface rights it holds through affiliates in Guatemala to Skye. The additional consideration would be payable once Skye has fulfilled a number of conditions during the option period. The number of shares to be issued to Inco as additional consideration will be the number that would have been required to increase Inco's shareholding in Skye to 17.5 per cent based upon Skye having completed $20-million in one or more financings (excluding common share acquisitions from third parties). If certain conditions are not met by Skye during the option period or Skye elects not to exercise its option to proceed with a project, Inco will have the right to reacquire its interest in the former Exmibal project.

The purchase was made through the TSX Venture Exchange for investment purposes. Inco may from time to time acquire additional shares, dispose of some or all of its shares, or continue to hold the shares in the normal course of its investment activities.

[Tackler]

Guatemala License A-2-92
Guatemala License A-2-92, owned by TrueStar Petroleum and governed by a production-sharing contract, encompasses 554,000 acres located in the Peten Basin along the Mexico-Guatemala border. The license area is located along the boundary of the Mexico- Guatemala thrustbelt and the southern Peten Basin.

Successful wells are located to the east, west and north of the license area. In addition, the San Diego #1, within the license area, was drilled off-structure in 1981 to a deep exploration target on one of several interpreted, mapped anticlinal closures. This well briefly produced in excess of 145,000 bbl of oil from the shallower Coban Formation. The Proved Undeveloped Reserves from the Coban were never developed on-structure as Hispanoil, the operator, exited the country. It is estimated that the San Diego structure alone may contain 5m to 25Mboe potential. In addition, TrueStar Petroleum believes there is excellent exploration and exploitation potential on the remaining interpreted, untested structures, of which there are at least three within the seismic coverage area.

Over the past 6 years, TrueStar Petroleum has studied data from satellite photographs, surface geological work and from a review of existing extensive seismic data from the government of Guatemala. The Company's exploration database also includes the interpretation of radar and Landsat images. During 1998 and 1999, 1,200 line-miles of modern, 2D seismic data were acquired at a cost of approximately US$3.5m.

The new data, coupled with the previously acquired 1,025 line-kilometres of seismic, were processed and interpreted to further delineate the aerial extent of the San Diego structure and other known structures, including the large Goliath structure, located in the foothills of the Candelaria Mountain range.

The Goliath structure is a large sub-surface anticline, with surface expression, and was first identified by Landsat and later confirmed by aerial photography and side-scanning radar. This structure hosts beds that are believed to be analogous to those producing in adjoining fields.

Prospects for productive drilling are enhanced by the fact that the Goliath is among the shallowest in the South Peten Basin. The reserve potential for Goliath is difficult to assess statistically but could easily eclipse San Diego, due to the larger interpreted aerial extent, and be in the 50m to 100m barrel range.

Development Strategy
TrueStar Petroleum intends to exploit the potential of its Guatemalan asset through a low risk strategy where it leverages on the resources of a larger partner. It is currently speaking to several US independent oil companies with a view to negotiating an agreement whereby it takes a 10% working interest, and a 40% carried interest in 2 wells. There is anticipated to be no difficulty in getting rigs and oil field services from Southern Mexico into the targeted area. The estimated cost for a 10,000 foot well is US$3m.

The forecasts on which TrueStar Petroleum has based its strategy for Guatemala envisage a participation of 50%. There is currently a 20% royalty, and with production up to 20,000boe per day, the state has right to a 34.1% participate, and the option to increase it up to 70%, provided it pays its share of the capital expenditure. Legislation is being contemplated, however, to cap this at 35%. An adjustment for royalties have been made, and average well recovery have been assumed. In 3 years TrueStar Petroleum expects to drill 4 to 6 wells, and over 5 years it anticipates that it will drill 12 wells. In terms of potential exploration targets, TrueStar Petroleum has already delineated 4 closed Coban structures.

[Tackler]

TPC...

[Tackler]

Skye applies for patent on atmospheric Ni leaching

2005-08-18 15:32 ET - News Release

Mr. Ian Austin reports

SKYE FILES PATENT APPLICATIONS FOR ATMOSPHERIC LEACHING PROCESS FOR NICKEL LATERITES

Skye Resources Inc. has filed United States and international non-provisional patent applications for the atmospheric sulphuric-acid leaching process of lateritic nickel ores, which it has been developing over the past 18 months.

Skye is currently preparing a feasibility study for a ferronickel operation using conventional smelting technology at its Fenix project in Guatemala. While doing this, it is also undertaking a pilot plant program to test its proprietary atmospheric leach process using bulk samples taken from the Fenix project. Skye is encouraged by the initial results of this testwork, which is being carried out by SGS Lakefield Research Ltd. The program, which was initiated in February, 2005, is scheduled for completion in November this year. The pilot plant has a capacity of 0.3 tonne per day.

Skye's proprietary process is capable of recovering nickel and cobalt from both limonite- and saprolite-nickel laterites, which occur together in many deposits such as Fenix. The process takes place at atmospheric pressure and at relatively low temperatures, meaning that the conditions are quite benign relative to other process technologies. It also uses unit operations, which are conventional and well tested at other operations.

If further testwork confirms the results to date, it would be hoped that the application of this process would lead to a substantial reduction in both the capital intensity and the operational complexity of processing nickel laterites.

Skye is currently in discussions with major nickel industry participants regarding their interest in working with Skye to further develop this process through the financing of a demonstration plant.

[Tackler]

Skye Resources drills over 300 holes to date on Fenix

2005-08-15 14:03 ET - News Release

Mr. Ian Austin reports

SKYE CONTINUES TO MAKE RAPID PROGRESS AT FENIX

Skye Resources Inc. has provided an update on the progress of its Fenix nickel project in Guatemala.

Feasibility study

The feasibility study being led by Hatch Ltd. is considering the production of ferronickel using conventional technology. The plan is to refurbish the existing mothballed plant to produce 25 million pounds of nickel annually and then to expand the refurbished plant to produce 50 million pounds a year. The study, which was initiated in May, 2005, is currently scheduled for completion in the second quarter of 2006. Hatch has already completed the initial project definition studies and major bid packages for the process plant are in preparation for issue this month.

Skye is continuing to explore its options to obtain the power required to operate the ferronickel smelter, and the feasibility study is considering an on-site coal-fired power plant, as well as power purchased and delivered via the Guatemalan grid.

Drill program

The drill program commenced in late April and six drills are now on the property. To date, over 300 holes have been completed, totalling over 8,000 metres. The program, which is expected to total between 35,000 and 45,000 metres, is scheduled for completion in early 2006. The drill program is providing data which will be used by Snowden Engineering Ltd. to prepare the resource definition and mining section of the feasibility study. The company anticipates that revised resource estimates will be available in the first quarter of 2006.

Environmental and social impact assessment

The company is carrying out an extensive environmental and social impact assessment (ESIA). The ESIA is being overseen by Klohn Crippen Consultants Limited (with the support of Consultoria y Tecnologia Ambiental SA, a Guatemalan environmental consulting company). The assessment is being carried out to comply with the equator principles, which require that the project meet standards set both by the government of Guatemala and by the World Bank.

Permitting

Under Guatemalan law three key permits are required. The first is the conversion of the existing exploration licences into exploitation licences, which will allow mining again on the Fenix property. The second key permit will allow the resumption of activities at the smelter, which is located adjacent to the existing licences, and the third permit will be required for expansion of the existing facilities and the construction of any associated power plant.

The Guatemalan authorities have agreed that, upon the filing of the environmental studies required to support the applications for these permits, they will consider them in a thorough but timely manner. If the applications are approved, the necessary permits will be issued in a time frame, which would allow Skye to move forward quickly once the feasibility study is complete in the second quarter of 2006.

The Guatemalan government, through the appropriate ministries, will carry out consultations with the local communities concerning any potential environmental impacts and mitigating measures. The government of Guatemala has also said that it will honour its commitments under Convention 169 of the International Labour Organization (ILO 169) regarding consultations with indigenous peoples.

These consultations to be carried out by the government are in addition to the extensive consultation program that the company has already initiated.

Community relations

Since acquiring Fenix, Skye has also focused on understanding and responding to community issues and concerns. The company has created and is providing initial financing to a community association, which is focused on initiating sustainable community development in the entire region, which would be affected by the Fenix project.

Some of the initial projects have included:

-commissioning a regional strategic plan to be conducted in partnership with the local and regional governments;
-health and education initiatives, including the possible refurbishment of the hospital and school facilities, which were constructed as part of the original project;
-working with government agencies to resolve outstanding issues relating to property title in the region;
-donating excess land for subdivision to provide housing for local residents; and
-supporting reforestation, poultry production and fish farm projects.

[Ed Monton]

Yup

[echarter]

He looks like he has this on his mind.

http://www.fas.usda.gov/pecad2/highlights/2001/01/ca_cold/

[Tackler]

I know I could use a few with thier machete's around here,
I pay top dollar...

[echarter]

I heard that there will be a massive increase in the output of Guatemelons from this country.

That may change the situation for foreign investment drastically and eliminate the need for any domestic production.

EC<:-}

[Tackler]

Skye files Fenix reports; no longer in default

2005-08-09 14:22 ET - News Release

Mr. Hugh Macdonald reports

SKYE FILES REVISED TECHNICAL REPORTS AND IS REMOVED FROM BCSC DEFAULT ISSUER LIST

Skye Resources Inc. has now filed two revised reports for its Fenix project in Guatemala, available in SEDAR files. As a result, Skye has been removed from the defaulting issuers list of the British Columbia Securities Commission.

Skye announced in Stockwatch May 19, 2005, that a routine review by the commission had identified that the preliminary assessment, filed in support of Skye's news release in Stockwatch Feb. 28, 2005, was not filed in the form required by National Instrument 43-101. The assessment relied on a report on Skye's resources filed in support of Skye's news release in Stockwatch Oct. 13, 2004, which was also found not to be in the form required by NI 43-101. Both reports have been revised to comply with NI 43-101. The conclusions in the preliminary assessment and the resource report have not changed.

[Tackler]

Skye Resources finds 3.1% Ni over 14 m at Fenix

2005-08-03 14:34 ET - News Release

Mr. Ian Austin reports

SKYE REPORTS EXCELLENT GRADES FROM DRILLING AT FENIX

Skye Resources Inc. has released the initial results from a continuing 45,000-metre drilling program at its Fenix nickel laterite project in Guatemala.

"These results, which include results to the end of June, are just the first in a series due out over the next several months. We expect they will form the foundation of the feasibility study we have under way aimed at potentially restarting the mine, which had been operated by Inco from 1977 to 1980," says Skye's president, Ian Austin.

Highlights from this drilling include the following.

Area 212:

-hole 30008: 14 metres grading 3.15 per cent Ni;
-hole 30012: 18 metres grading 2.94 per cent Ni and a deeper zone of 12 metres grading 1.77 per cent Ni; and
-hole 30021: 21.8 metres grading 2.33 per cent Ni.

Area 213:

-hole 32003: 11.7 metres grading 2.81 per cent Ni; and
-hole 32006: 19.2 metres grading 3.13 per cent Ni.

The first phase of the drilling program was designed to twin a statistically significant number of the historic drill holes in the 212, 213 and 217 (La Gloria) deposit areas. This phase began in late April and the drilling was essentially completed in early June with a total of 109 holes drilled comprising 3,728 metres.

The twinned holes were targeted within one metre of the original drill hole in order to allow an unbiased geological representation of the deposit, as well as the reconfirmation of the extensive historic resource database (which had been used for the former mine and smelter facility during its operation in the 1977 to 1980 period). These new data will also allow Skye to evaluate the multielement chemistry of the laterite profile and to examine deeper sections of the profile in those areas where the original drilling stopped in above-cut-off-grade material.

Skye's technical team is particularly encouraged by the fact that in these first results, three of the holes -- namely 30012, 30018 and 30020 -- cut deeper saprolite zones not sampled by the original drilling.

The infill drill program, which is designed to evaluate the less intensively drilled deposits on a 50-metre hole spacing, also got under way, with 30 holes completed (421 metres) by the end of June in area 251. The first three holes in the 217 infill program (146 metres) were also completed.

Assay results have been received for nine holes drilled in area 213 and 47 holes drilled in area 212. With the exception of results from hole 30043 that require reanalysis to address a lab quality control failure, assays received to date are summarized in Table 2, and the distribution of the drill holes is summarized in Table 1.

Until a revised resource estimate, is prepared it is not possible to determine the impact these new drill results will have on the historical resource estimate, which is based on the original drilling.

Review by qualified person, quality control and reports

Dr. Paul Golightly, PGeo, is the independent qualified person as defined under National Instrument 43-101 responsible for the quality control and verification of the data contained in this release. The Fenix project diamond drill core is logged and marked for sampling by company geologists. Sample lengths are 0.3 to 1.3 metres. All boreholes in the twin hole program (HQ size) are cut in half either by knife or diamond saw, depending on sample hardness, with one-half bagged and tagged for shipment to the sample preparation laboratory. The remaining half of the split core is returned to the core box for storage and future reference. Sample rejects are returned to the project after 15 days for long-term storage; sample pulps are presently stored at the sample preparation lab.

Samples are shipped from the Fenix project site to BSI Inspectorate in Guatemala City for sample preparation. Samples are dried at 105 degrees for 12 hours, crushed to 90 per cent less than 10 mesh, riffle split and pulverized to 95 per cent less than 150 mesh. The prepared samples (150 to 200 grams of pulverized laterite) are air freighted to SGS Lakefield for assay by lithium borate fusion, XRF. SGS Lakefield has ISO/IEC 17025 accreditation for its mineral analytical services.

Twelve major element oxides, loss on ignition plus Ni and Co, are analyzed. Detection limits are 0.05 per cent for Ni and 0.01 per cent for Co. Field duplicates (1:20) and standards or blanks (1:20) are inserted at the project site to monitor lab procedures and assay quality. All batches of analysis are subjected to statistical tests to ensure they meet established quality control criteria. Procedures for check assaying at a secondary lab are being put in place to further verify assay quality.

Mineralized intercepts are herein reported using a 1.5-per-cent Ni cut-off for the purposes of comparison with the original holes. The intercepts are averages weighted by sample length and a calculated density. New resource and reserve cut-off grades will be determined by Skye Resources during the course of its feasibility study of the Fenix project (see news in Stockwatch Feb. 28, 2005).

 
  
            TABLE 1 
  
 Area    No. of  Metres  Holes 
         holes           with 
                        results 
 Twin 
 holes 
  
 212       62      2231    48 
 213       11       250     9 
 217       36      1247     0 
  
 Infill 
 holes 
  
 217        3       146     0 
 251       30       421     0 
  
                TABLE 2 
  
 Area  Hole  From  To    Length   Ni 
              (m)  (m)    (m)     (%) 
  
 212  30001  13.2  27.5   14.3   2.40 
 212  30002  10.0  23.3   13.3   2.90 
 212  30003   6.5  21.1   14.5   2.88 
 212  30004   2.0  19.4   17.5   2.49 
 212  30005  10.6  32.0   21.5   2.62 
 212  30006  22.6  40.6   18.0   2.05 
 212  30007   2.0  19.0   17.0   1.60 
 212  30008  13.0  27.0   14.0   3.15 
 212  30009   6.3  35.5   29.2   2.76 
 212  30010   0.0   9.7    9.7   1.85 
 212  30011   6.0  26.0   20.0   2.72 
  
 212  30012   4.0  22.0   18.0   2.94 
 212  30012  33.0  45.0   12.0   1.77 
  
 212  30013   0.3  20.0   19.7   2.39 
 212  30014   0.0  15.0   15.0   2.61 
 212  30015   1.0  15.1   14.1   2.70 
 212  30016  15.0  27.0   12.0   2.58 
 212  30017  14.6  33.9   19.3   1.98 
  
 212  30018  21.0  26.4    5.4   2.21 
 212  30018  35.1  38.0    2.9   1.74 
  
 212  30019  11.5  32.0   20.6   2.15 
 212  30020  22.6  25.3    2.7   2.33 
 212  30020  35.4  37.3    1.9   1.70 
 212  30021   1.2  23.0   21.8   2.33 
 212  30022   3.0  18.4   15.4   2.19 
 212  30023  12.0  21.0    9.0   2.24 
 212  30024  16.3  18.4    2.2   1.58 
 212  30025   1.0  16.1   15.1   2.59 
 212  30026   3.9  18.3   14.4   1.81 
 212  30027  11.2  24.0   12.8   2.23 
 212  30028  14.4  21.8    7.4   2.73 
 212  30029  Not received from lab 
 212  30030   7.8  19.0   11.2   2.31 
 212  30031  21.8  33.2   11.4   2.23 
 212  30032  23.3  39.9   16.7   2.52 
 212  30033  17.2  27.0    9.8   2.13 
 212  30034  32.0  44.0   12.0   1.97 
 212  30035  15.5  24.0    8.5   2.15 
 212  30036   9.6  25.2   15.6   2.17 
 212  30037  15.5  24.0    8.5   2.15 
 212  30038  10.3  21.8   11.5   1.77 
 212  30039  35.8  49.6   13.9   2.33 
 212  30040  21.6  31.8   10.2   2.07 
 212  30041  17.1  38.4   21.3   1.72 
 212  30042  26.6  30.7    4.1   1.83 
 212  30043  QA/QC failure 
 212  30044  12.0  27.0   15.0   2.33 
 212  30045   9.3  28.7   19.5   2.43 
 212  30046  14.0  36.0   22.0   1.72 
 212  30047  23.5  31.4    7.9   1.65 
 212  30048   7.1  27.0   20.0   2.06 
  
 213  32000   0.4  11.9   11.5   1.98 
 213  32001   0.3  17.5   17.2   2.34 
 213  32002   0.2  15.7   15.5   2.25 
 213  32003   0.3  12.0   11.7   2.81 
 213  32004  No significant intercepts 
  
 213  32005   6.7  15.0    8.3   2.71 
 213  32005  25.7  29.2    3.5   1.87 
  
 213  32006   0.0  19.3   19.3   3.13 
 213  32007   0.0   9.9    9.9   1.82 
 213  32008   0.0  16.5   16.5   2.63 
  
 

[Tackler]

Skye Resources revises Fenix report

2005-06-17 14:20 ET - News Release

Mr. Wayne Waters reports

SKYE REPORTS UPDATE ON CONTINUOUS DISCLOSURE REVIEW

Skye Resources Inc., further to news as reported in Stockwatch on May 19, 2005, that a routine review by the British Columbia Securities Commission had identified that the preliminary assessment on Skye's Fenix project in Guatemala, filed in support of Skye's news as reported in Stockwatch on Feb. 28, 2005, was not filed in the form required by National Instrument 43-101. Skye continues to work with Hatch Ltd. and the other authors to revise the report to ensure its compliance with the form and expects to be filing a revised report within 30 days. The conclusions in the preliminary assessment will not change.

[Tackler]

Glad you didn't buy at $3?...

[Tackler]

Brazil project, others could spur nickel surplus.

Fri Jul 8, 2005 04:00 PM ET

VANCOUVER, British Columbia, July 8 (Reuters) - The planned startup of a large nickel project in Brazil in 2008 could lead to a surplus of the metal if other miners also go ahead with mines they have on the drawing board, a Canadian-based analyst said.
Cia Vale do Rio Doce (RIO.N) , or CVRD, the world's biggest iron ore miner, announced this week it will branch into the nickel business by developing its Vermelho project into a 46,000-tonne-a-year mine.

Nickel, which is an important ingredient in stainless steel, has been in short supply for the past two years propelling prices higher but also encouraging miners around the world to work on launching new production.

Ian Howat, an analyst at National Bank Financial, said that at least 180,000 tonnes of new financed and committed capacity is set to come on stream between 2007 and 2009.

At least four companies, Anglo American Plc. (AAL.L) , Lionore (LIM.AX) , Canico (CNI.TO) and Dynatec (DY.TO) with its partner Implats (IMPJ.J) , also have projects in the works for that same time period.

The market could have an oversupply problem for several years if these ventures, which would add another 100,000 tonnes of supply, were all given the thumbs up by company boards.

"This announcement (by CVRD) should focus the market on the 2008-2009 period and the potential for an oversupply situation, especially if there is an economic slowdown that dampens demand," Howat said in a research note.

He said that some of the smaller "wannabe" players might get squeezed on financing and choices for partners, especially on the customer side.

This could be especially negative for Canico and its Onca-Puma project in Brazil, but also for Dynatec and other smaller or less-advanced projects led by Weda Bay (WDA.TO) , Skye Resources (SKR.V) and Jaguar Nickel (JNI.TO) .

CVRD had been a potential partner for Canico but with its new project that now looks less likely, Howat said.

Russia's Norilsk Nickel (GMKN.RTS) is the world's biggest producer followed by Canada's Inco Ltd. (N.TO) and Falconbridge Ltd. (FL.TO) . Once BHP Billiton (BLT.L) completes its takeover of Australia's WMC Resources (WMR.AX) it will take the No. 3 spot.

[Tackler]

We sailed right past thier ore loading facility. I need to look into it, are they using the same process as CNI?

I think I will apply to help them start thier mill up.

[Ed Monton]

What's your opinion of this one. Relative to CNI it looks undervalued.

[Tackler]

SKR Skye Resources retains Axino AG http://www.axino.com/ for European IR

2005-06-07 15:58 ET - News Release

Mr. Ian Austin reports

SKYE RETAINS INVESTOR RELATIONS CONSULTANT IN EUROPE

Skye Resources Inc. has retained Axino AG to provide it with investor relations services on a non-exclusive basis for an initial term of six months. Axino will present Skye in Germany and other European countries, disseminating investor relations information and creating awareness of Skye in the European financial community. Axino will be paid compensation of $82,500, which includes all costs and expenses including the costs associated with listing on the Frankfurt Stock Exchange, road shows and meetings in Europe, and establishing and maintaining a German-language website.

Axino AG is a privately owned full-service investor relations firm based in Stuttgart, Germany. It specializes in representing resource-sector companies that wish to obtain investor exposure and develop a shareholder following in the European financial markets with a special focus on the German-speaking financial communities. Axino has advised Skye that it does not hold directly or indirectly any shares of Skye and that it does not have any right to acquire any shares.

[Ed Monton]

SKR

[Ed Monton]

SKR