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Georgia Ventures puts Riccio, El-Alfy on advisory board
2007-05-31 11:12 MT - News Release
Mr. Jonathan George reports
GEORGIA VENTURES INC.: ADVISORY BOARD APPOINTMENTS
Georgia Ventures Inc. is appointing Dr. Luca Riccio, PGeo, and Dr. Sadek E. El-Alfy, PhD, DIC, BSc, ARSM, to its advisory board.
Dr. Riccio was vice-president of exploration of Crystallex International Corp. from 1997 to 2004. Dr. Riccio has been involved in the evaluation and/or supervision of gold, base metals, chrome, nickel-copper and PGM projects in Canada, the United States, Mexico, South and Central America, Spain, Italy, Vietnam, China, Mongolia, and Scotland. He was directly responsible for the underground exploration and development at the New Britannia mine in 1987-1988 and the initial evaluation of the Andacollo gold project in Chile in 1989. In the early 1990s Dr. Riccio pioneered a regional exploration program in southeastern Venezuela, which led to the discovery of several gold deposits and one producing mine. He is a registered member of the Association of Professional Engineers and Geoscientists of British Columbia, a fellow of the Geological Association of Canada and a member of the Canadian Institute of Mining and Metallurgy. Dr. Riccio will continue to serve as Georgia's qualified person.
Dr. El-Alfy is currently vice-president of operations for Crystallex International. A 34-year mining veteran, Dr. El-Alfy has extensive experience in the design and operation of both open pit and underground mining operations including holding the position of general manager, mining and concentrating, at the Carol Lake operation of the Iron Ore Company of Canada between 1990 and 1995. The Carol Lake operation was one of the largest open pit operations in Canada and produced at the time approximately 50,000 tonnes per day of iron ore concentrates from a mining operation of close to 100,000 tonnes per day of iron ore. Dr. El-Alfy is a member of the Canadian Institute of Mining and Metallurgy and Petroleum, the Institute of Mining and Metallurgy, London, U.K., and the American Institute of Mining, Metallurgy and Petroleum Engineers and an ex-chairman of the Association of Professional Engineers of Newfoundland.
Jonathan George, president of Georgia, stated, "The combined experience of Dr. Riccio and Dr. El-Alfy, their skills in bringing properties from the exploration to the development/mining stage, and their contacts in the mining community will be invaluable as Georgia moves forward with the development of the El Creston molybdenum deposit in Sonora, Mexico."
Oriental Applies for 56 Uranium, 41 Gold and 149 Base Metals Mining Rights in South Korea
Monday June 4, 9:00 am ET
http://biz.yahoo.com/iw/070604/0261184.html
VANCOUVER, BC--(MARKET WIRE)--Jun 4, 2007 -- Oriental Minerals Inc. (CDNX:OTL.V - News) is pleased to announce it has applied for a total of 56 Mining Rights for Uranium, 41 Mining Rights for gold-silver and 140 Mining Rights for base metals in South Korea. These applications complement the Company's existing portfolio of gold, base metal and uranium projects in South Korea and demonstrate the Company's goal to become a dominant commodity supplier in the fastest-growing regional economy in the world.
The 56 Mining Right applications covering 15,456 hectares, have been made for uranium as extensions to Oriental's existing Ogchon Project 144 Mining Right applications. Reconnaissance prospecting exploration by Oriental's geological teams has indicated the uraniferous-bearing graphitic beds extend further along strike into these areas.
In addition to the 16 uranium deposits and radiometric anomalies previously identified, the Ogchon Uranium Project also contains the old Subog and Yongdong lead-zinc deposits and the Kumhai gold mine.
The 41 Mining Right applications, covering 11,316 hectares, have been made for gold-silver in a 100-kilometre trucking radius of Oriental's Muguk gold-silver deposit. The Mining Right applications cover the following five groups of historic gold mines:
* Cheonbo.
* Oechon-Palbong-Sambong-Chungchon-Puyong.
* Gyeonsan-Shinyeo-Kudun-Okbong-Kyongsan.
* Hwaamri-Chiak-Gangweon.
* Cheonam-Ibo-Seonggeo-Daehung.
These historic gold mines will be evaluated as potential satellite gold-silver deposits, feeding high grade ore to a central milling facility potentially sited near Oriental's Muguk gold mine.
The 149 Mining Rights, covering 41,124 hectares, were applied for over the strike extensions to the base metal skarn belt to the east and west of Oriental's substantial Sangdong tungsten-molybdenum deposit. The Mining Rights cover the following historic mines:
* Weolag, Gyegog, Sujong, Weondong and Yonghua tungsten-molybdenum mines.
* Eungog, Yojon/Ryuden, Yomisan-Shinyemi, Uirim, Dongjeum, Wondok, Tokpung
and Ulchin lead-zinc deposits.
* Ogdong and Dongnam magnetite mines.
* Pobal, Taedae, Ungyo and Pangye gold mines.
These applications cover the 125-kilometre long mapped strike length extensions of the Myobong Slate, Jangsan Quartzite and Pungchon Limestone, considered the most favourable geological formations to host major base metal deposits. Please visit www.orientalminerals.com or contact the Company for the related map of these applications.
Once approved, Oriental Minerals will be, by far, the largest mining licence holder in South Korea, with 426 Mining Rights in total, covering 115,611 hectares or 1,156 square kilometres. Approvals for these current applications are expected to be received within 6 months.
QUALIFIED PERSON
The qualified person for the purposes of this release is Mr. Mark Dugmore.
On behalf of the Board of Directors,
Damien Reynolds
Chairman and Director
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact:
For more information:
Spiro Kletas
(604) 681-5755
Email Contact
http://www.orientalminerals.com
Source: Oriental Minerals Inc.
For producers, right now I only have GPXM, which is giving increasing indications it might follow in BLE's footsteps.
Otherwise, I'm sticking with explorers and developers for the greater leverage -- VGM, LWC, OTL, GWY, GXM, TCR, LGO, and RMK.
LC
Looks like moly is headed higher with china controling exports so what producing company will gane the most is now the question.
Mills to cut spot molybdenum purchases due to China export rule
Steel mills in South Korea and Japan plan to reduce their molybdenum oxide and ferromoly purchases due to China implementing export regulations on these products, sources said this week.
The Chinese government on Friday released a list of 30 molybdenum producers and trading companies to be granted export licenses. Companies without licenses will not be allowed to export. The government is also expected to set the volume of molybdenum products allowed to be exported by each licensed company.
An official in charge of procurement at South Korean steel producer Posco said he had been prepared for this move.
"There had been rumors on the Chinese government actions. It was expected. But this means we need to find other sources outside China ... South America, Chile," the official said.
Posco sources molybdenum products through monthly tenders as well as on contracts. Monthly tenders involve moly products of 100 mt or more.
Sources at Japanese blast furnace mills said they had increased the ratio of contract supplies, sourcing more from Chile on annual contracts, and less from China on spot basis. For January-April 2007, roughly 50% of Japan's ferromoly imports were from China, mostly on a spot basis, and 30% from Chile, mostly on contracts. Due to mills' tendencies to rely more on contracts, market sources generally expect to see a decrease in imports from China, some even saying that Chile may overtake China as the top ferromoly exporter to Japan.
Mill sources generally said they expected molybdenum prices to rise on the back of possible reduction of Chinese exports. One trader, however, gave a different opinion: "Mills reducing tender procurement would mean less spot demand. That may result in falling prices."
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HIHO recently closed a Private Placement and do not need to raise money anytime soon..Check out this recent video on the company very interesting IMO :)
http://www.b-tv.com/i/videos/hihosilver.wmv
Virgin Metals Reports Additional Drill Results, Including 22m. at 0.78% Mo and 2.08% Cu
Thursday May 31, 11:02 am ET
http://biz.yahoo.com/cnw/070531/e_virginmet_drillresu.html?.v=1
TSX Symbol: VGM Shares Outstanding: 77,269,385
TORONTO, May 31 /CNW Telbec/ - Virgin Metals Inc. (TSX: VGM - News; the Company) reports results for reverse circulation drill holes numbers 52 to 63 in its continuing in-fill and step-out drill program at its 100% owned Los Verdes molybdenum/copper project in northern Mexico. The objective of the drilling is to bring into the resource category mineralization on the recently acquired Bacanora claim and to increase the number of inclined holes throughout to provide improved comparison to earlier drilling. The order of drilling has been dictated to a certain extent by drill road development.
Holes 52, 53 and 55 were drilled to test the lateral extent of mineralization and generated no results of interest. Hole 54 was collared adjacent to previously drilled Hole 3 but was inclined to the south west at -55 degrees targeting the mineralization previously drilled in Hole 5. The significant mineralization intersected will expand the bounds of mineralization towards the Bacanora claim boundary.
Hole 56 was collared at the expected western edge of the Bacanora mineralization and drilled due east at 45 degrees to evaluate the western contact. Modest molybdenum and silver values were intersected over substantial widths. Hole 57 was drilled on the southwest edge of the deposit and final results are pending.
Holes 58, 59, 61 and 62 were twins of five scissor holes drilled by earlier operators at a different orientation than our own previous drilling. They confirmed grades shown by the historic drilling with high copper grades in Hole 58 and high copper, molybdenum and tungsten grades in 59.
Holes 60 and 63 were collared in the Bacanora area and extend the known mineralization to the west, confirming grades established in previously drilled Hole 5.
Details of intersection in Holes 54, 56 and 58 to 63 are as follows:
<<
-------------------------------------------------------------------------
Hole No. Inclination Total From To Intercept True
-------------------------------------------------------------------------
Depth (m.) (m.) (m.) Thickness
-------------------------------------------------------------------------
(m.)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC5407 -55 137.16 22.86 134.11 111.25 91.11
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 39.62 118.87 79.25 64.9
-------------------------------------------------------------------------
-------------------------------------------------------------------------
and 67.06 118.87 51.81 42.43
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC5607 -55 121.92 71.63 121.92 50.29 41.19
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 100.58 121.92 21.34 17.48
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC5807 -50 115.82 18.29 115.82 97.53 74.7
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 18.29 96.01 77.72 59.53
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC5907 -45 167.64 21.34 123.44 102.10 72.18
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 24.38 88.39 64.01 45.24
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC6007 vertical 144.78 54.86 121.92 67.06 67.06
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 70.10 121.92 51.82 51.82
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC6107 -45 76.20 22.86 51.82 28.96 20.47
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC6207 -50 166.12 53.34 158.50 105.16 80.55
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 74.68 158.50 83.82 64.21
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LVRC6307 -45 166.12 60.96 166.12 105.16 74.35
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 103.63 166.12 62.49 44.18
-------------------------------------------------------------------------
-------------------------------------------------------------------------
including 123.44 146.30 22.86 16.16
-------------------------------------------------------------------------
-------------------------------------------
Hole No. Mo Cu W Ag
-------------------------------------------
Total % % % g/t
-------------------------------------------
-------------------------------------------
LVRC5407 0.14 0.96 0.21 5.1
-------------------------------------------
-------------------------------------------
including 0.18 1.20 0.26 6.8
-------------------------------------------
-------------------------------------------
and 0.25 1.55 0.38 9.5
-------------------------------------------
-------------------------------------------
LVRC5607 0.09 nil 0.07 22.4
-------------------------------------------
-------------------------------------------
including 0.16 nil 0.10 23.9
-------------------------------------------
-------------------------------------------
LVRC5807 0.10 1.19 0.18 6.2
-------------------------------------------
-------------------------------------------
including 0.09 1.37 0.15 7.3
-------------------------------------------
-------------------------------------------
LVRC5907 0.26 1.09 0.34 7.1
-------------------------------------------
-------------------------------------------
including 0.29 1.41 0.42 8.8
-------------------------------------------
-------------------------------------------
LVRC6007 0.10 0.65 0.16 7.0
-------------------------------------------
-------------------------------------------
including 0.10 0.83 0.16 7.40
-------------------------------------------
-------------------------------------------
LVRC6107 0.12 0.3 nil nil
-------------------------------------------
-------------------------------------------
LVRC6207 0.15 0.83 0.09 3.3
-------------------------------------------
-------------------------------------------
including 0.17 0.95 0.11 3.9
-------------------------------------------
-------------------------------------------
LVRC6307 0.27 1.56 0.16 9.1
-------------------------------------------
-------------------------------------------
including 0.41 1.63 0.25 8.0
-------------------------------------------
-------------------------------------------
including 0.78 2.08 0.25 9.6
-------------------------------------------
Assay results are pending for the remaining 110 metres of hole 27 (diamond drilled to a total depth of 424 metres) in which molybdenum was observed.