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China may increase gold reserves beyond 'Fort Knox' level
CAPE TOWN (miningweekly.com) – China’s central bank is being advised to increase its gold holdings nearly tenfold to a level greater than the world’s biggest bullion depository, the US’s "Fort Knox".
Global economist David Hale, who addressed the packed Mining Indaba in Cape Town attended by a record 5 700 people, says that China’s gold reserves are currently at 1 050 t – only $30-billion to $40-billion compared with the country’s total assets of $2,8-trillion.
Various officials in China have proposed the central bank should increase its gold reserves to 10 000 t, which would give China larger gold reserves than Fort Knox.
“This would be a huge development for the gold market,” he says, with global mining output of gold only at 2 500 t a year.
“China will probably start to buy gold in the near future, but they won’t report it for two or three years,” Hale says.
When China announced new gold reserves from 600 t to 1 050 t in April 2009, purchsing had been done in the preceding years..
“The odds very much favour China making, over five years, very large gold purchases, and this in turn makes me bullish on the gold price,” he adds.
In addition to the central bank purchases of gold, preliminary data suggests that the Chinese private sector has bought 300 t of gold in the last year, compared with zero three to four years ago.
Given the rising Chinese incomes and inflation, Chinese private demand for gold could increase in the next few years to the historical levels of India, which for many years has been the world’s largest private buyer of gold.
“China offers the prospect of very healthy demand for gold and this could over the next couple of years set the stage for further major gains in the price of gold.”
Hawthorne Gold Corp.: Update on Private Placement With Skyocean
VANCOUVER, BRITISH COLUMBIA, Feb 2, 2011 (Marketwire via COMTEX) -- Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC)(PINK SHEETS:HWTHF) Further to the Company's news release of January 6, 2011, the Company anticipates final closing of the Private Placement with Skyocean Ventures Investment Fund ("Skyocean") to close in February 2011. Funding of the Private Placement by Skyocean is subject to a number of regulatory approvals, including applicable Chinese government approvals for the transfer of funds from China to Canada. To date, Skyocean has received final approval of the Beijing Commercial and Trade Bureau and has applied for registration of the transaction with the Beijing Foreign Exchange Administration. Although registration has been delayed due to extended government office closure during the Chinese New Year holiday period, such registration is expected shortly.
CHINA MINERALS MINING CORPORATION
TSXV:HGC
China Minerals Mining Corporation (CMMC) powered by its new parent SkyOcean Holding Co., Ltd. of Beijing China plans the creation of a significant mining concern, global in scale and encompassing the acquisition and development of a wide range of precious and base metal projects.
Through this new relationship combining SkyOcean’s financial power with Western knowledge and expertise China Minerals Mining Corporation will emerge as a successful business model for the mining industry.
http://gcff.chineseworldnet.com/?q=show_conference&conference_id=27753&program_id=27757&type=exhibitors_list&day=1&company_id=28323
I am too. it's my largest holding now and I'm still adding every time it dips below .17.
This could be the start of something big. Giving the boot to Barclay/Beley is the terrific news for HGC. I'm betting on the Chinese.
Sorry, I double posted.
This is a good thing and brings credibility back to the company. Jian Zhang is a very respected mining engineer and I expect acquisitions to begin this year of properties in and around British Columbia and all throughout Canada and maybe North America.
I guess we will find out if the market likes it soon enough. . . . I see the ask at .22 pre opening bid
HAWTHORNE ANNOUNCES UPDATE ON PRIVATE PLACEMENT WITH SKYOCEAN
Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX-V: HGC, US: HWTHF) further to the Company's news release of December 9, 2010 (the "December 9th News Release"), the Board of Directors of the Company (the "Board") has agreed, subject to regulatory approval and closing of the private placement (the "Private Placement") with Skyocean Ventures Investment Limited ("Skyocean"), to replace the Company's current Chairman and Chief Executive Officer with Skyocean's nominees. Further details of the Private Placement are summarized in the December 9th News Release and the Company's information circular dated October 28, 2010 (copies of which are available under the Company's SEDAR profile at www.sedar.com). The Company expects to close the Private Placement in January 2011 and will issue a further news release when the Private Placement is closed.
Changes to the Board and Management
The Company's Board and Management will, subject to regulatory approval and closing of the Private Placement, be changed as follows:
The Board will be increased by one seat in accordance with the Company's articles and Jian Zhang will be appointed as a director. Michael Beley, the current Chairman, will step down as Chairman effective on closing of the Private Placement and Mr. Jian Zhang will be appointed to fill such position. Michael Beley is expected to be appointed as special adviser to the Chairman. The existing directors of the Board are expected to remain in place.
Richard Barclay, the current President and Chief Executive Officer of the Company has agreed to step down as President and Chief Executive Officer effective on closing of the Private Placement and Dr. Shijia Tang will be appointed as Chief Executive Officer to fill the Chief Executive Officer position. Mr. Barclay will remain a senior executive of the Company and will have the title Executive Vice President.
The following provides information regarding the proposed new Chairman and Chief Executive Officer:
Jian Zhang -
Chairman of the Board and Director
Mr. Jian Zhang is a professional senior mining engineer with more than forty years' experience. Mr. Zhang Jian has held the office of Chairman of the Board and President of the China Non-ferrous Metal Mining Group Corporation. (CNMC) and has served as the Vice President of the China National Non-Ferrous Metals Industry Corp.(CNNC). He continues to be a leader in the China non-ferrous metal industry. During his career he has overseen all aspects of mine building from geological exploration and mine development to all facets of mine and milling operations resulting in numerous domestic Chinese non-ferrous metal mining projects successfully placed into production. Mr. Zhang Jian has as well successfully directed the development of the largest non-ferrous metal project outside of China; the Chambishi copper mine in Zambia, as well as other significant projects such as the Tumurtin-Ovoo zinc mine in Mongolia, and the TagaungTaung nickel mine in Myanmar. Throughout his career Mr. Zhang Jian has continued to be a major contributor to the development of China's non-ferrous metal industry and to the development of China's international mining industry.
Mr. Zhang also acts as the Chairman of Sino Mining International Investment Limited and was appointed as an independent non-executive director of COL Capital Limited in 2006. Mr. Zhang is the Vice Chairman of China Manager Council of Construction Enterprises and China Precious Stone Council and also the Chairman of Beijing Alumni Association of Xian Construction Technology University. Mr. Zhang has been awarded National Outstanding Intellect in 1997 and National Top 10 Honest Persons of Outstanding Ability in 2004. Mr. Zhang has also in 2005 been awarded as an Influential Person to the China Nonferrous Metal Industry.
Dr. Shijia Tang -
Chief Executive Officer
Dr. Shijia Tang is a senior geologist with a PhD from Central South University, China. He has worked with numerous mining companies. From 2001-2003, he was a Senior Geologist with Chambishi Copper Mine in Zambia; from 2003-2005 he was the General Manager of Business Development for China Nonferrous Metals International Mining Ltd., from 2005-2008 he was the president of Sino Mining International Investment Ltd., and from 2008-2010 the president of China Nonferrous Metal (Beijing) Mining Investment Ltd. Dr Tang is presently the President and CEO of China Minerals Ltd. a subsidiary of the Skyocean Group.
As a manager and senior geologist, he has been involved with many mineral projects: such as the construction and production of the Chambishi Copper mine in Zambia, the exploration of Champassak bauxite project in Lao PDR., the exploration and feasibility study of the Ergozhu Lead-Zinc Project in Russia, the construction of the Hysene Copper Mine in DPR of Korea, etc. He has a wide range of experience in investment, exploration, construction and management in the mineral resource industry.
Name Change
The Company also announces that the Board has approved the change of the Company's name to China Minerals Mining Corporation. The Company is in the process of applying to the TSX Venture Exchange to request approval for such name change. The new name has been reserved with the appropriate regulatory and the Company's stock symbol will likely change to reflect the new name.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Table Mountain and the continued resource development at the nearby Taurus deposit.
For more information on Hawthorne, contact Robert Ferguson toll free at 1-888-629-1505 or the Company at (604) 629-1505, or you can visit Hawthorne's website at www.hawthornegold.com.
ON BEHALF OF HAWTHORNE GOLD CORP.
(signed) "Michael J. Beley"
Michael J. Beley
Chairman
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Hawthorne's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
You can also view this News Release on our website at:
http://www.hawthornegold.com/s/NewsReleases.asp?ReportID=436624
Hawthorne Announces Update on Private Placement With Skyocean
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2011) - Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC)(PINK SHEETS:HWTHF) further to the Company's news release of December 9, 2010 (the "December 9th News Release"), the Board of Directors of the Company (the "Board") has agreed, subject to regulatory approval and closing of the private placement (the "Private Placement") with Skyocean Ventures Investment Limited ("Skyocean"), to replace the Company's current Chairman and Chief Executive Officer with Skyocean's nominees. Further details of the Private Placement are summarized in the December 9th News Release and the Company's information circular dated October 28, 2010 (copies of which are available under the Company's SEDAR profile at www.sedar.com). The Company expects to close the Private Placement in January 2011 and will issue a further news release when the Private Placement is closed.
Changes to the Board and Management
The Company's Board and Management will, subject to regulatory approval and closing of the Private Placement, be changed as follows:
The Board will be increased by one seat in accordance with the Company's articles and Jian Zhang will be appointed as a director. Michael Beley, the current Chairman, will step down as Chairman effective on closing of the Private Placement and Mr. Jian Zhang will be appointed to fill such position. Michael Beley is expected to be appointed as special adviser to the Chairman. The existing directors of the Board are expected to remain in place.
Richard Barclay, the current President and Chief Executive Officer of the Company has agreed to step down as President and Chief Executive Officer effective on closing of the Private Placement and Dr. Shijia Tang will be appointed as Chief Executive Officer to fill the Chief Executive Officer position. Mr. Barclay will remain a senior executive of the Company and will have the title Executive Vice President.
The following provides information regarding the proposed new Chairman and Chief Executive Officer:
Jian Zhang - Chairman of the Board and Director
Mr. Jian Zhang is a professional senior mining engineer with more than forty years' experience. Mr. Zhang Jian has held the office of Chairman of the Board and President of the China Non-ferrous Metal Mining Group Corporation. (CNMC) and has served as the Vice President of the China National Non-Ferrous Metals Industry Corp.(CNNC). He continues to be a leader in the China non-ferrous metal industry. During his career he has overseen all aspects of mine building from geological exploration and mine development to all facets of mine and milling operations resulting in numerous domestic Chinese non-ferrous metal mining projects successfully placed into production. Mr. Zhang Jian has as well successfully directed the development of the largest non-ferrous metal project outside of China; the Chambishi copper mine in Zambia, as well as other significant projects such as the Tumurtin-Ovoo zinc mine in Mongolia, and the TagaungTaung nickel mine in Myanmar. Throughout his career Mr. Zhang Jian has continued to be a major contributor to the development of China's non-ferrous metal industry and to the development of China's international mining industry.
Mr. Zhang also acts as the Chairman of Sino Mining International Investment Limited and was appointed as an independent non-executive director of COL Capital Limited in 2006. Mr. Zhang is the Vice Chairman of China Manager Council of Construction Enterprises and China Precious Stone Council and also the Chairman of Beijing Alumni Association of Xian Construction Technology University. Mr. Zhang has been awarded National Outstanding Intellect in 1997 and National Top 10 Honest Persons of Outstanding Ability in 2004. Mr. Zhang has also in 2005 been awarded as an Influential Person to the China Nonferrous Metal Industry.
Dr. Shijia Tang - Chief Executive Officer
Dr. Shijia Tang is a senior geologist with a PhD from Central South University, China. He has worked with numerous mining companies. From 2001-2003, he was a Senior Geologist with Chambishi Copper Mine in Zambia; from 2003-2005 he was the General Manager of Business Development for China Nonferrous Metals International Mining Ltd., from 2005-2008 he was the president of Sino Mining International Investment Ltd., and from 2008-2010 the president of China Nonferrous Metal (Beijing) Mining Investment Ltd. Dr Tang is presently the President and CEO of China Minerals Ltd. a subsidiary of the Skyocean Group.
As a manager and senior geologist, he has been involved with many mineral projects: such as the construction and production of the Chambishi Copper mine in Zambia, the exploration of Champassak bauxite project in Lao PDR., the exploration and feasibility study of the Ergozhu Lead-Zinc Project in Russia, the construction of the Hysene Copper Mine in DPR of Korea, etc. He has a wide range of experience in investment, exploration, construction and management in the mineral resource industry.
Name Change
The Company also announces that the Board has approved the change of the Company's name to China Minerals Mining Corporation. The Company is in the process of applying to the TSX Venture Exchange to request approval for such name change. The new name has been reserved with the appropriate regulatory and the Company's stock symbol will likely change to reflect the new name.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Table Mountain and the continued resource development at the nearby Taurus deposit.
For more information on Hawthorne you can visit Hawthorne's website at www.hawthornegold.com.
ON BEHALF OF HAWTHORNE GOLD CORP.
Michael J. Beley, Chairman
Chinese gold miners to go global: http://www.chinamining.org/News/2010-12-01/1291165804d41197.html
The two Hawthorne deposits have more than sufficient to make this company stock price rise quickly. What investors want to see is the actual production again on the existing mines at both locations of which one was in operation as late as 2007 by Cusac Gold and shut down then due to the gold price collapse because of Central bank gold manipulation. Cusac who I originally owned shares in then sold the who operation out to Hawthorne in a stock swap where I came into the Hawthorne shares. Hawthorne needs to get off its ass and quit drilling and start producing again with the now high gold prices and then in conjunction with the mining do the drilling. They have great resources to drive the stock prices into the $100 plus level in the next two years, they just need to become a producers again which is easy for them because the whole operation is just sitting there. The current price for a company like this is ridiculously low. When the investment public sees this one the price will jump over night to over a dollar and points north of that in the months following.
TABLE MOUNTAIN PROPERTY
Liard Mining District
British Columbia
Prepared for
HAWTHORNE GOLD CORP.
Vancouver, B.C. Canada
Report for NI 43-101
May 18th, 2010
Cassiar Gold Camp = Table Mountain property and Taurus Property
The Table Mountain Property is comprised of 106 contiguous mineral claims and 12 Crown Grants,
covering an area of 37,123 hectares. These claims are located in the Liard Mining District of
northwestern British Columbia, some 117 km north of Dease Lake, B. C. The Property is centered on a 15 km long, northerly trending system of mesothermal gold-bearing shear zones and quartz veins. This gold rich system developed in late Jurassic age, along and adjacent to the Erickson Creek Fault Zone. The mineralised system on the Table Mountain property hosts a number of past producing, high
grade underground mines, open pits and placer workings. Estimated total gold production from this
property is 316,000 oz (9,828 kg), with an additional 35,000 oz (1,089 kg) reported production from
the adjoining Taurus Property (also owned by Hawthorne Gold). These two properties combined are
known as the Cassiar Gold Camp. In addition, placer gold production in the Cassiar Gold Camp has
been estimated at 74,500 oz (2,317 kg) Total gold production for the Cassiar Gold Camp is calculated
at over 425,000 ounces (13,219 kg)
Hawthorne Gold Corp. presently controls the majority of the mining claims in the Cassiar Gold
Camp, Liard Mining District, NTS 104P. Hawthorne claims comprise two properties; the Table Mountain Gold Property and the Taurus Property . There are 106 claims on the Table
Mountain Property owned by Hawthorne Gold Corp. including those acquired through the merger
with Cusac Gold Mines . Twelve Crown Grants located on the Table Mountain property .
Hawthorne Gold Corp. controls the mineral rights to a total of 59,165 hectares (146,200 acres) in the
Cassiar Gold District. Hawthorne’s Table Mountain Gold property mineral claims cover
approximately 39,183 hectares and are contiguous. Hawthorne’s adjacent Taurus Property covers
19,982 hectares. The claim group purchased from American Bonanza Gold Corp. covers 915
hectares. The properties have been acquired by direct staking, outright purchase, and option
agreements. Most of the claims are owned outright, with only a few subject to option payments
and net smelter royalties, or net profit interests.
The total recorded production for the entire Cassiar Gold Camp, (Table Mountain, Taurus and Placer
operations) is 425,151 oz (13,224 kg).
October 2010 Corporate presentation http://www.hawthornegold.com/
http://www.hawthornegold.com/i/pdf/HGC-Corporate-Presentation.pdf TSX-V: Oct 2010
Experienced Management , Operational and Technical Team
•Led by respected company builders Michael Beley and Richard Barclay
?Co-founded both Bema Gold and Eldorado Gold
•Strong board of directors and advisory team
Dedicated to Growth through drilling, development and acquisitions
•Apply Bema/Eldorado Model (short term cashflow)
?Advance towards cashflowat profitable mining operation within 4 years from Company inception
?On track for production at Cassiar Gold Mine, British Columbia
•Aggressive 10,000 metre diamond drill program at Cassiar Gold Camp 2010
?Build resource portfolio and develop priority exploration targets for upside potential
Issued and Outstanding82,115,113
Special Warrants ($0.29)14,338,801
Stock Options ($0.40 -$1.60)6,787,000
Warrants ($0.40 -$0.51)11,342,857
Fully Diluted114,583,791
American Bonanza Gold Corp.5,750,000~(8%)
Institutional Ownership~25,000,000~(26%)
Market Capitalization (as at April 29, 2010) ~$13M
HGC
UTable Mountain and Taurus Deposits
Progress To Date
•Increased land position by 245%
•Purchased remaining 70% of Taurus Deposit
•Completed geological compilation model of 40 years of data
•Completed 12,000 metre surface diamond drill program 2008/9
•Rehabilitated underground access workings at Cassiar Gold Mine
•Re-established exploration and mining 75 man camp
•Completed property-wide geophysics program
SHigh-Grade Gold System
•NI 43-101 Mineral Resource Estimate
•Deposits hosted in extensive quartz-carbonate-gold vein systems similar to some of Canada’s largest gold camps, including Timmins, Kirkland Lake and Val d’Or
2009 Exploration & Development Program
•Completed 12,000 metre diamond drill program focused on:
?Priority zones identified at Table Mountain and Taurus that will increase resource base
?Regional targets to identify new zones
•Underground pre-development at Table Mountain to prepare for production at Cassiar Gold Mine
Taurus Gold Deposit24Highlights
•NI 43-101 Mineral Resource Estimate
•High-grade zones identified within resource selected high grade open pits
•Open pit, bulk tonnage opportunity
•Historical production of 32,700 ounces from high grade zones within deposit 2010 Exploration & Development Program
•Plan 2010 10,000 meter surface exploration drill program to bring Taurus inferred resource to measured and indicated status
•Metallurgical studies on mineralized zones for compatibility with mill flow sheet
•Potential for multi million ounce open pit and underground bulk mineable gold deposit
Oro
TABLE MOUNTAIN AND TAURUS GOLD DEPOSIT
•Continue resource development through surface drilling during 2010 summer/fall; exploration program will consist of 10,000 metres of diamond drilling, trenching, mapping and soil sampling
•Complete engineering and mine planning
•Complete pre-production mine development leading towards production at Cassiar Gold Mine
(Reuters) - China should significantly boost the amount of gold held in state reserves, a newspaper run by China's Ministry of Commerce said on Wednesday, citing a local researcher.
Meng Qingfa, a researcher with China Chamber of International Commerce, was quoted by the International Business Daily as saying that China should eventually boost its gold reserves to a level equal to that held by the United States.
U.S. reserves stood at 8,133 tonnes as of the end of June, significantly higher than China's current level of 1,054 tonnes.
"Doubtlessly, if the yuan is set to become an international currency like the dollar or the euro, China has to get a huge gold reserve to support it, and a reserve of 1,054 tonnes is far from being enough," Meng said.
He added that China can keep buying gold at a price of about $1,300 per ounce, and China could build up a gold reserve as large as the United States' current one by using only 10 percent of its $2.65 trillion stockpile of foreign exchange reserves.
Meng's view does not represent China's official stance. But the domestic appeals for China's foreign exchange reserve regulator to buy bullion has been intensifying in recent years as the dollar has fallen and the gold price has moved higher.
Yi Gang, head of the State Administration of Foreign Exchange, said earlier this year that China will be prudent in adding gold to its official reserves, wary that any move to buy the precious metal would only serve to drive its price higher.
China vies with India to be the world's top consumer of gold. China is already the top producer, with output of 313.98 tonnes last year, up by almost 50 percent in five years.
According to the World Gold Council, China's share of global gold demand has doubled from 5 percent in 2002 to 11 percent in 2009, and China's domestic gold mines could be exhausted within six years.
Fortunate for HWTHF shareholders that the Chinese are acquiring Hawthorne.
This was posted on another Hawthorne board. This stock could explode to the up side shortly...........................................................I emailed Bob Ferguson and this is what I got back
Bob
I read the press release today and was disappointed with the amount of dilution we just encountered. Can you tell me if this 10,000,000 will bring us to production or can we expect more dilution?
Thank you
Dear Mr.
As per the news release published by the Company this private placement of shares will constitute a change of control for the Company. Upon closing Hawthorne will be controlled by China Minerals and head office will move to Beijing. The parent of China Minerals is Skyocean which is a $6 Billion corporation and Hawthorne will effectively become the mining arm for Skyocean and China Minerals. The first step will be to make an acquisition that will satisfy the listing requirements of the Hong Kong Stock Exchange.
Having said, I believe that this is an amazing opportunity for shareholders of Hawthorne as I can see Skyocean making some very large acquisitions as we go forward. We do not foresee any further dilution at this point.
Please feel free to contact us at any time should you have any further questions.
Regards,
Robert R. Ferguson
Suite 905 - 1130 West Pender Street, Box 43
Vancouver, British Columbia, Canada, V6E 4A4
Tel: (604) 629-1505 Fax: (604) 629-0923
Mobile: (604) 999-5546
awthorne board by a shareholder. HWTHF could explode in price shortly.............................
Hawthorne Completes First Phase of Cassiar Drill Program
Press Release, Source: Hawthorne Gold Corp.
On Wednesday June 24, 2009, 8:30 am EDT
http://finance.yahoo.com/news/Hawthorne-Completes-First-ccn-2720857652.html?x=0&.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC - News; PINK SHEETS:HWTHF - News) is pleased to announce that eight NTW diamond drill holes have been completed, totaling 409.49 metres, on the Taurus zone in the Cassiar Gold Camp, northern British Columbia, Canada. Drilling has now shifted to multiple targets on Table Mountain to define additional high-grade underground gold zones similar to the East Bain zone. The planned drilling program at the Cassiar Gold Camp is expected to total up to 10,000 metres during the summer of 2009.
"Hawthorne is aggressively pushing forward with all facets of its 2009 exploration and development program and we are pleased with the progress after less than three weeks on site. We have a busy season ahead and our technical team has now commenced the second phase of drilling to test many new targets identified from the recently completed fully digitally compiled geological model. The model has opened our eyes to the true potential of this historic gold camp," commented Richard Barclay, President and CEO of Hawthorne.
As discussed in the Company's press release dated June 4, 2009, the goal of the Taurus zone drilling is to delineate a targeted small-tonnage, higher grade surface gold zone, for supplemental mill feed to the permitted Cassiar Gold Mining operation. Recent drilling encountered similar mineralization as described in historical drilling within the area. Three of the eight drillholes have encountered disseminated VG (visible gold) within or along the margins of quartz veins and veinlets.
Drill core from the Taurus zone has been sent to SGS Mineral Services North America in Delta, British Columbia for assaying and to initiate metallurgical test work to ensure the mineralization is amenable to processing through the mill facility at the Cassiar Gold Mine. If the results are positive, the Company will move forward with the extraction of a 10,000 tonne bulk sample from the target zone and stockpile the mineralized material next to the mill.
The East Bain zone comprises of a National Instrument 43-101 mineral resource estimate of 20,101 tonnes grading 21.21 g/t Au containing 13,708 ounces (indicated) and 1,158 tonnes grading 68.57 g/t Au containing 2,552 ounces (inferred). (Please refer to update of Technical Report on the Table Mountain Property, Liard Mining District, BC on the Table Mountain Property prepared by Beacon Hill Consultants (1988) Ltd. - June 1, 2008. For 68.57 g/tonne cut values, individual assays greater than 68.57 g/tonne Au are cut to 68.57 g/tonne Au.) The East Bain, located about 160 metres from the existing underground workings, is the first zone the Company is planning to develop to bring the Cassiar Gold Mine into production.
Michael Petrina, P.Eng., the Company's Vice President of Mining and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Cassiar Gold Mine in Q4 2009 / Q1 2010 and to continue resource development of the nearby Taurus deposit, as well as the Frasergold deposit in the south central British Columbia Cariboo region. Hawthorne continues to review potential acquisitions, focusing on high quality, advanced gold development opportunities.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
Contact:
Todd HanasHawthorne Gold Corp.(604) 629-1505 or Toll Free: 1-866-869-8072(604) 629-0923 (FAX)www.hawthornegold.com
Hawthorne Gold Signs Contract with Proactive Investors Limited
Source: Hawthorne Gold Corp.
On Friday June 19, 2009, 9:00 am EDT
http://finance.yahoo.com/news/Hawthorne-Gold-Signs-Contract-ccn-3693702653.html?x=0&.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2009) - Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC - News; PINK SHEETS:HWTHF - News) announces it has entered into an agreement with Proactive Investors Limited ("Proactive"), to provide marketing services including shareholder communications for the Company for a period of 12 months, commencing June 15, 2009. The agreement will include banner advertising, company editorial snapshots on a quarterly basis, coverage of material news releases to the readers and subscribers to Proactive, dissemination of Proactive news coverage and articles through other newswires and news services, MP3 audio interviews and a profile of the Company on the Proactive website. Proactive will receive a fee of $8,000 for the 12 month period.
The agreement is subject to the acceptance of the TSX Venture Exchange. The Company and Proactive are at arm's length.
About Proactive Investor Limited
Proactive Investors is a UK based financial media forum with operations and offices in North America, Europe, Australia and China. The company is focused on developing a well-informed investor base for companies in the junior mining space. The group provides its client exposure to an extensive network of investors through their websites that cover financial news in Australia, North America, Europe and China. Proactive Investors is an international news organisation.
Proactive Investors has a strong foot print in all key markets with established links to institutional & retail investors, sell side analysts and private client brokers. In addition to website presence Proactive Investors' services include conferences in Toronto, London and Sydney, aimed to provide its clients an audience to present their investment case in an intimate setting. Combined with articles, MP3 audio interviews and the coverage of news releases, Proactive Investors offer an unparalleled package of online opportunities for companies looking to raise their exposure into multiple markets across the globe.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Cassiar Gold Mine in Q4 2009 / Q1 2010 and to continue resource development of the nearby Taurus deposit, as well as the Frasergold deposit in the south central British Columbia Cariboo region. Hawthorne continues to review potential acquisitions, focusing on high quality, advanced gold development opportunities.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Todd HanasHawthorne Gold Corp.(604) 629-1505 or Toll Free: 1-866-869-8072(604) 629-0923 (FAX)www.hawthornegold.com
Hawthorne Announces Quotation on the Pink Sheets in the United States
On Thursday June 11, 2009, 9:00 am EDT
http://finance.yahoo.com/news/Hawthorne-Announces-Quotation-ccn-15499288.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2009) - Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC - News; PINK SHEETS:HWTHF - News) is pleased to announce that its common shares began trading on the Pink Sheets Electronic Quotation Service under the ticker symbol "HWTHF". Hawthorne's quotation on the OTC Pink Sheets increases the Company's exposure to the U.S. markets and may enhance liquidity of Hawthorne's shares. R.F. Lafferty & Co., of New York filed the Form 211 and is currently a market maker on the Pink Sheets.
"The Pink Sheets quotation favorably positions us to reach a broad investment audience, including greater access to U.S. retail and institutional investors, while increasing our liquidity and transparency in the U.S.," stated Richard Barclay, President & CEO of Hawthorne.
About R.F. Lafferty & Co., Inc.
Founded in 1946, R.F. Lafferty & Co. is a leading, boutique securities firm and investment bank providing clients with a wide range of services including financial advisory, retail and institutional brokerage, asset management and investment banking services. Headquartered in New York, the firm specializes in serving small and mid-sized companies and their investors. For more information, please go to www.rflafferty.com.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Cassiar Gold Mine in Q4 2009 / Q1 2010 and to continue resource development of the nearby Taurus deposit, as well as the Frasergold deposit in the south central British Columbia Cariboo region. Hawthorne continues to review potential acquisitions, focusing on high quality, advanced gold development opportunities.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Todd Hanas
Hawthorne Gold Corp.
Toll Free: 1-866-869-8072
(604) 629-1505
Hawthorne Gold Corp.
(604) 629-0923 (FAX)
http://www.hawthornegold.com
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http://www.hawthornegold.com/s/Home.asp
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PROJECTS
Hawthorne Gold has three significant properties located in British Columbia, Canada.
The Table Mountain and Taurus Projects are located in the Cassiar Gold Mining District in northern British Columbia, where there has been extensive mining and exploration activity since the 1960's. The company's goal is to work towards production at Table Mountain Gold Mine in 2009 and continue exploration on the Taurus Deposit. An opportunity exists to develop the Taurus Deposit into a low grade bulk tonnage open pit mining operation.
The Frasergold Property is located in the historic Quesnel Trough area in central British Columbia and has a long history of continued exploration since the 1970's. Hawthorne completed its summer work program in August 2008, which included a 58 hole drill program (10,405 metres) on the Main Zone and step-out drilling along strike. The goal is to gain a better understanding of the size and potential of the deposit and define a National Instrument ("NI") 43-101 compliant gold resource estimate within the Main Zone. Hawthorne field geologists have identified visible gold ("VG") in multiple locations. Hawthorne believes there is potential for a gold deposit amenable to a low grade bulk tonnage open pit mining operation.
Hawthorne expects to review other potential exploration and development stage projects to further increase and diversify their asset portfolio.
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SHARE STRUCTURE [As of May 2009]
Shares Outstanding 73,912,347
Options 4,291,016
Warrants 17,223,591
Fully Diluted 95,426,954
Owned By Management 4,362,900
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INVESTOR RELATIONS
Todd Hanas-President
SBC Communications
Phone: 604-484-3668
Fax: 604-484-3667
Toll Free: 1-866-869-8072
Email: toddh@firstmg.com
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LINKS:
A Beginner's Guide To Investing In Gold
http://www.moneyweek.com/file/23315/a-beginners-guide-to-investing-in-gold.html
Bill Cara On Gold
http://www.billcara.com/gold/
The MMI Theory - What is MMI Geochemistry
http://www.mmigeochem.com/theory.htm
April 07, 2011 China Minerals Announces Grant of Options http://www.hawthornegold.com/s/NewsReleases.asp?ReportID=450747&_Type=News-Releases&_Title=China-Minerals-Announces-Grant-of-Options
April 05, 2011
Approved Name Change - Hawthorne Gold Corp to Become China Minerals Mining Corporation www.hawthornegold.com/s/NewsReleases.asp
Mar 23, 2011: News Releases: Hawthorne Closes Second Tranche of Private Placemet.
Feb 02, 2011: News Releases: Update on Private Placement with Skyocean
Jan 06, 2011: News Releases: Hawthorne Announces Update On Private Placement Wi...
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