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Sultan Minerals Inc. Commences Underground Mine Survey at Jersey-Emerald Zinc Mine, BC
Thursday May 17, 1:28 pm ET
http://biz.yahoo.com/ccn/070517/200705170391545001.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2007) - Sultan Minerals Inc. (TSX VENTURE:SUL - News; FRANKFURT:RZN - News; "Sultan") is pleased to announce that it has contracted Talon Survey Solutions of Calgary, Alberta to undertake an underground Cavity Measuring Survey of its 100% owned Jersey Lead-Zinc Mine on the Jersey-Emerald Property in the Kootenay District of British Columbia. The survey will accurately outline the previously mined ore deposits in order that the remaining lead-zinc mineralization may be determined. The survey is expected to be completed by the end of the summer.
Sultan is presently completing a 14,000-foot (4,200 metre) diamond drill program on the Dodger tungsten and molybdenum zone with initial assays anticipated in mid-June. In addition, Wardrop Engineering Inc. ("Wardrop") is currently finalizing a Scoping Study for Sultan on the tungsten resource as reported in the November 2006, NI 43-101 preliminary resource estimate. The study will provide a conceptual mine design, determine the potential for underground mining and deliver process design criteria. Wardrop have advised Sultan that the scoping study will be available in June 2007.
Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines, is managing the ongoing exploration programs. Mr. Perry Grunenberg, P.Geo., of PBG Geoscience of Kamloops, B.C., is Sultan's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects".
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological, President and CEO
Should you wish to receive Company news via email, please email catarina@chfir.com and specify "Sultan Minerals News" in the subject line or contact the Company directly.
This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
Cautionary Language and Forward-Looking Statements
This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.
SEC 12g3-2(b): 82-4741
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.
Contact:
Marc Lee
Sultan Minerals Inc.
Investor & Corporate Communications
(604) 687-4622 or Toll Free: 1-888-267-1400
(604) 687-4212 (FAX)
Email: mlee@sultanminerals.com / info@sultanminerals.com
Website: www.sultanminerals.com
Linda Armstrong
CHF Investor Relations
Vice President
(416) 868-1079, Ext. 229
Email: Linda@chfir.com
Source: Sultan Minerals Inc.
Manicouagan Reports Additional Drill Results From Brabant Lake Including 15.88% Zinc Over 6.93 Metres
Thursday May 17, 8:30 am ET
PHASE II DRILLING PROGRAM TO COMMENCE EARLY JUNE
http://biz.yahoo.com/ccn/070517/200705170391348001.html?.v=1
TORONTO, ONTARIO--(CCNMatthews - May 17, 2007) - Manicouagan Minerals Inc. (TSX VENTURE:MAM - News) announced today additional encouraging assay results from the five most recently completed holes of the Phase I drilling program at the Company's Brabant Lake zinc deposit. Results for drill holes BR-07-16, BR-07-17, BR-07-18, BR-07-19 and BR-07-20 are presented in the table below. As previously reported on April 24, 2007 drilling on the property is expected to resume on June 4, 2007 following spring break-up. Results are being compiled and evaluated to formulate a systematic Phase II drill program that meets Manicouagan's objective of producing a new resource estimate in late 2007 or early 2008. Phase II drilling is planned to consist of 30 to 40 holes for an additional 12,000 to 15,000 metres of core drilling.
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Hole Zone Length(ii) Zn Cu Pb Ag Au
ID ID(i) From To (m) (%) (%) (%) (g/t) (g/t)
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16 UZ 291.89 293.64 2.84 8.92 1.01 0.13 35.55 0.15
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LZ 330.60 339.10 8.50 3.91 0.52 2.70 112.00 0.38
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17 UZ 153.81 154.21 0.40 5.32 7.42 0.05 148.00 0.05
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LZ 157.62 165.91 8.29 7.70 0.55 0.20 17.37 0.00
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18 UZ 212.35 213.05 0.70 6.61 0.54 0.09 29.71 0.01
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LZ 239.05 250.25 11.20 8.19 0.68 0.09 29.71 0.00
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FWZ 250.53 256.88 6.35 1.96 0.58 2.11 177.42 2.74
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19 UZ 231.95 235.00 3.05 4.59 0.16 0.07 2.53 0.00
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LZ 263.34 270.27 6.93 15.88 0.72 0.35 63.57 0.11
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20 UZ 250.73 253.85 3.12 3.31 0.22 0.13 11.62 0.04
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LZ 271.72 275.86 4.14 6.28 0.83 1.38 43.77 0.08
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(i) Upper Zone (UZ), Lower Zone (LZ) and Footwall Zone (FWZ)
(ii) down-hole length approximately 85% true width
Millstream Intersects a 47 Metre Interval of Massive Sulphides and Stringers in Drill Hole S-07-07 at Potter
Wednesday May 16, 9:00 am ET
TORONTO, ONTARIO--(CCNMatthews - May 16, 2007) - Millstream Mines Ltd. (TSX VENTURE:MLM - News; FRANKFURT:NJD - News) is pleased to report that its current diamond drill hole S-07-07 has intersected down hole a continuous mineralized zone over a core length of 47 metres (154 ft.). The mineralized zone contains stringers and massive sulphides showing chalcopyrite, sphalerite and pyrrhotite.
ADVERTISEMENT
Core samples have been cut, prepared and sent to Swastika Laboratories in Swastika, Ontario for assaying.
Millstream continues drilling to further explore this potentially rich volcanogenic massive sulphide (VMS) type deposit at its Potter Property. The past producing property is host to copper-zinc-cobalt "stacked" mineralized zones located in the highly prolific Abitibi Greenstone Belt in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario, Canada.
Management has reviewed this report and press release with the company's consultant Edward Bettiol, P. Eng, and David Gamble, P. Geo, both being designated qualified persons for the property per NI 43-101.
The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.
Millstream seeks safe harbour with regards to forward looking statements.
56,921,040 SHARES ISSUED
May 15, '07 Close: $0.31
No regulatory authority or similar body approved nor disapproved the information contained herein.
Redcorp Ventures Ltd.: Tulsequah Camp Construction Begins
Wednesday May 16, 9:00 am ET
http://biz.yahoo.com/iw/070516/0253855.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 16, 2007 -- REDCORP VENTURES LTD. (Toronto:RDV.TO - News) and Redfern Resources Ltd. ("Redfern"), its wholly-owned subsidiary (together the "Company"), announce that it has selected Modular Transportable Solutions LLC. (MTS) of Yakima Washington to design and manufacture its prefabricated, modular 200-person construction camp, administration buildings, cookhouse, and mine dry at the Tulsequah Mine location in northwest B.C.
MTS has a patented design to use standardized ISO containers and design structures for the mining industry. From a basic container, these units are designed with connecting corridors and traditional building components for a complex prefabricated facility solution. These wind- and water-tight units are virtually indestructible and are designed to withstand extreme weather conditions.
Transportation costs to the site are reduced due to the standardization of component sizes. Units are manufactured offsite, reducing on-site construction requirements. MTS has been providing specialty facilities for the mining and petroleum industries for eight years and is a leader in prefabricated and modular solutions.
Design and construction of the camp is already underway, starting with a preliminary self-contained 30-person construction camp that will be used by the road excavation and earthworks crew early in the life of the project.
Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.
Terence Chandler, President
News Release 07-21
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Ontario) and the Securities Act (Alberta). Forward-looking information includes disclosure regarding possible or anticipated events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action and includes future oriented financial information with respect to prospective results of operations or financial position that is presented either as a forecast or a projection. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions.
More specifically, forward-looking information contained herein includes, without limitation, statements concerning the Company's plans at its Tulsequah Project (inclusive of the Big Bull Project), the net present value of the Tulsequah Project, the timing and amount of estimated future production and mine life, expected future prices of gold, silver, copper, lead and zinc, metallurgical response and net smelter return valuations, mineral reserve and mineral resource estimates, estimated capital and operating costs of the project, estimated capital pay back period, timing of development and permitting time lines; all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Forward-looking information contained herein is based on material factors and assumptions and is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from a conclusion, forecast or projection in the forward-looking information. These include, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the availability of financing for activities when required and on acceptable terms, the accuracy of the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the consistency of future exploration, development or mining results with the Company's expectations, metal price fluctuations, the achievement and maintenance of planned production rates, the accuracy of component costs of capital and operating cost estimates, current and future environmental and regulatory requirements, favourable governmental relations, the availability of permits and the timeliness of the permitting process, the availability of shipping services, the availability of specialized vehicles and similar equipment, costs of remediation and mitigation, maintenance of title to the Company's mineral properties, industrial accidents, equipment breakdowns, contractor's costs, remote site transportation costs, materials costs for remediation, labour disputes, the potential for delays in exploration or development activities, timely completion of future NP 43-101 compliant reports, timely completion of future feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, continuing global demand for base metals, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form, dated March 28, 2006, and in each subsequent Management's Discussion and Analysis.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Contact:
Contacts:
Redcorp Ventures Ltd.
Troy Winsor
Manager of Investor Relations
1-888-225-9662
Website: http://www.redcorp-ventures.com
Source: Redcorp Ventures Ltd.
Redcorp Ventures Ltd.: Tulsequah Project Drilling Update-High Grade Intercept Results
09:02 EDT Tuesday, May 15, 2007
http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGe...
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2007) - REDCORP VENTURES LTD. (TSX:RDV) and Redfern Resources Ltd. ("Redfern"), its wholly-owned subsidiary, (together the "Company"), are pleased to announce an update on the 2007 exploration drilling program.
Drilling commenced in the Big Bull area of the Tulsequah Project on April 21, 2007. This release provides information on the initial drilling in the vicinity of previous hole BB06062, which intersected high-grade massive sulphides, that was reported in a Company news release dated November 27, 2006. The first four holes have been drilled in the immediate vicinity of this target to better define the extent and geometry of the new mineralized horizon. Further holes are being drilled to test the mineralized zone extension to the north.
The first 2007 hole, BB07065, was designed to undercut BB06062 by approximately 30 meters. Basaltic intrusives were encountered at the target depth and no significant mineralization was found.
Hole BB07066 was collared to target mineralization approximately 30 meters north along the projected trend of the 60-62 zone of mineralization. The hole returned 6.15 meters (core length) grading 11.34 grams per tonne (g/t) gold, 228.23 g/t silver, 0.51% copper, 11.23% lead and 22.32% zinc. True thickness of this interval is estimated to be 3.5 meters.
Inter- True
val Width Au Ag Cu Pb Zn
Hole ID From To (m) (m) (g/t) (g/t) (%) (%) (%)
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BB06062(i) 138.0 145.1 7.08 5.0 20.00 253.42 0.66 11.59 26.63
BB07066 138.2 144.3 6.15 3.5 11.34 288.23 0.51 11.23 22.32
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(i) Intersection previously reported
Mountain Lake signs JV Agreement and Commences Drill Program on Cornerstone Property adjacent to Bobby's Pond Zinc-Copper Deposit in Central Newfoundland
Tuesday May 15, 8:00 am ET
http://biz.yahoo.com/ccn/070515/200705150390609001.html?.v=1
MOUNT PEARL, NEWFOUNDLAND--(CCNMatthews - May 15, 2007) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; OTCBB:CTNXF - News; FRANKFURT:GWN - News; BERLIN:GWN - News) today announced that Mountain Lake Resources Inc. (TSXV-MOA) will commence drilling on Cornerstone's 100% owned Bobby's Pond claims in Central Newfoundland. The announcement follows finalization and signing of an option and joint venture agreement between the two companies. The Cornerstone property comprises 62 claims extending both northeast and southwards from Mountain Lake's 2.4 sq km Bobby's Pond mining lease where ongoing drilling is defining a significant zinc-copper-volcanogenic massive sulphide (VMS) deposit.
On February 7, 2007, Mountain Lake reported the results of a January 2007 mineral resource estimate update that increased the NI43-101 compliant resources in the Bobby's Pond deposit to a total of 1,340,000 tonnes (Indicated and Inferred), consisting of 860,000 tonnes in the Indicated category grading 0.93% Cu, 6.30% Zn, 0.53% Pb, 20.0 g/t Ag, and 0.24 g/t Au, and 480,000 tonnes in the Inferred category grading 1.07% Cu, 6.36% Zn, 0.38% Pb, 15.0 g/t Ag, and 0.18 g/t Au.
Mountain Lake plans to drill three holes totaling 750 metres on the Cornerstone claims, with the drill program commencing immediately.
Cornerstone's Bobby's Pond claims host VMS-style alteration and disseminated and stringer zinc-copper mineral occurrences identified in widely spaced INCO drill holes completed in the late 1980's. The INCO drill holes encountered mineralization similar to that situated immediately adjacent to the Bobby's Pond deposit. Go to http://www.cornerstoneresources.com/s/Newfoundland.asp?ReportID=136409 for a map of the property.
The option agreement gives Mountain Lake the right to earn a 51% interest in Cornerstone's claims by spending $2.75 million on exploration over five years. The first year's $150,000 expenditure is a firm commitment and includes completion of a diamond drilling program. The agreement also calls for Mountain Lake to issue 200,000 common shares to Cornerstone over five years, including 25,000 to be issued on the acceptance of the agreement by the TSX Venture Exchange. With an active exploration program already underway on its Bobby's Pond mining lease, Mountain Lake will be operator of the joint venture during the earn-in period.
When Mountain Lake earns a 51% interest, a Joint Venture will be formed whereby each party will have the right to maintain its respective interest by funding its share of exploration costs. The agreement also gives Mountain Lake the right, subject to certain conditions, to increase its interest to 75%. Either party may dilute its interest, based on exploration expenditures. If either party's interest falls to 10% or less, its interest will convert to a 2% NSR, which is subject to buy-out provisions.
Bobby's Pond is one of a number of active projects in the Buchan's area of Central Newfoundland known for its base and precious metal-rich VMS deposits, most notably the renowned and historic Buchan's deposits themselves. The Bobby's Pond project is located 25 km to the west of Aur Resources' Duck Pond deposit, which is in commercial production, and 50 km northeast of Messina Minerals' Tulks South property, the site of their 2004 Boomerang and subsequent discoveries.
Mr. Jamie Meyer, PGeo, of Mountain Lake Resources, is the Qualified Person on the Bobby's Pond project. He has reviewed and verified the contents of this news release.
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland & Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. In addition to Mountain Lake Resources, Cornerstone's current and past joint venture partners include Agnico Eagle, Celtic, Cash Minerals, Candente, Coastport, Cogitore, Falconbridge, Inmet, Kermode, Moydow, Noranda, Phelps Dodge, and Thundermin.
On Behalf of the Board,
Glen H. McKay, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Glen H. McKay
Cornerstone Capital Resources Inc.
President & CEO
1-877-277-8377
Email: communications@crigold.com
Website: www.cornerstoneresources.com
Source: Cornerstone Capital Resources Inc.
*** Think zinc, wear mink (via MMG <g>) ***
BASE METALS
45% EXPORT REDUCTION POSSIBLE
China’s proposed zinc exports reductions could increase metal price
China, the world’s top zinc miner and consumer, is threatening to sharply reduce zinc exports during the second quarter by removing a tax rebate.
Author: Dorothy Kosich
Friday , 11 May 2007
RENO, NV -
Chinese traders and analysts say that Chinese officials may sharply cut zinc exports this quarter.
Zhou Guobao, head of the zinc and lead department of China's Nonferrous Metals Industry Association, told the Shanghai Daily News that "the sharp increase in zinc exports is a concern, and the government will probably remove the tax rebate to slow export growth."
China is the world's top zinc miner and consumes one-third of the world's zinc.
Feng Juncong of Beijing Antaike Information Development said net exports may drop as much as 45% to between 50,000 to 60,000 tonnes in the second quarter, as domestic demand is growing and the government is discouraging overseas sales.
Bloomberg News has reported that China is trying to curb metals exports to reduce the country's trade surplus and limit capacity growth in energy-intensive and polluting industries.
Meanwhile, Yunnan Chihong Zinc and Germanium announced it will build a lead and zinc smelter in Inner Mongolia if a mining deposit proves to have sufficient reserves.
Reuters reported that Yunnan would build a smelter designed to yield 100,000 tonnes of lead and 100,000 tones of zinc annual in Hulun Buir City, if lead and reserves in the region's deposit were provided to exceed 2 million tonnes
http://www.mineweb.co.za/mineweb/view/mineweb/en/page36?oid=20781&sn=Detail
From SI's MMG board....
From: Mr. Aloha 7 Recommendations 5/11/2007 11:38:03 PM
"Don Coxe's call this week is particularly bullish for base metals junior miners, so I took nearly verbatim notes on the metals discussion. This should make MMG shareholders feel really good about holding one of the best, if not the best, base metals junior with huge metals deposits in a politically secure area."
http://events.startcast.com/events/199/B0002/code/eventframe.asp
What I realize is that although we have to talk because of compliance problems and the kinds of clients that we serve, we have to comment on the big cap stocks, that more money is made in any boom like this by buying small caps. Yes, the risk profile is higher, but if you listen carefully, we’ve said the theme always is buying unhedged reserves in the ground in politically secure areas in the world. Then what that means is you’re better off if you can find small cap mining companies who have got reserves in the ground than you are buying big caps – the leverage is terrific, and you can also assume that they’re gonna get taken out, if the stock market obstinately refused to bid them high enough.
Therefore, it is important for people who say, “Do I really care that BHP bids for Rio Tinto?” Well, yes, you should, because the fact that Alcoa, Alcan, BHP, and Rio Tinto looking at the world really believe that the best thing to do is just look at each other, confirms what we also heard from an account on the West Coast, is the frustration that some of the big cap companies have at how they’re valued in the market place. This has been the best performing group in earnings in this cycle (big companies if you use a figure of $10 billion), and yet they still at substantial discounts and PE’s to the rest of the market. The argument that’s used against this, and it’s been thrown in my face time after time, is – “oh, that’s just playing the cycle – the only way to play the mining stocks is to buy when they’re losing money and are selling at an infinite multiple and you sell them as soon as the PE ratios going down to single digits.” The problem with that is that you would have sold them out 3 years ago, and if you had any left you would have sold them out 2 years ago, and if you had just a little bit left you would have been totally out of it by now, and that’s long before this latest runup. Even with the latest runups, these stocks are cheap, and they are absolutely necessary to the global economy.
There’s a big, big difference between the mining industry and the oil and gas industry as to pricing power. The oil industry has to face the fact that between OPEC and state owned oil and gas companies that the opportunities for the oil companies to grow their reserves and expand their production are shrinking, and that they’re competing with subsidized buyers to buy assets as they come up, and they also have to do deals with governments, and the number of governments that they can trust to do a deal with is shrinking at an alarming rate. So therefore, you can’t use the analogy that “well, the big oil stocks haven’t done anything so why should big mining stocks do something?” Because if you’re BHP, yes, you have some production coming from politically insecure regions, but there are no significant state-owned companies that you’re dealing with. The only big exception to that is of course Codelco in Chile, but Chile still maintains a very good environment for private capital to move in there, in other words what you do not have is anything like the OPEC situation for the mining industry. About 30 years ago, there was an effort in the copper industry to do just that, to create a CPEC, which was just another bad idea in the 1970’s that dissolved when the triple waterfall began for the commodities companies.
So what you’ve got here is a situation of a commodity class of absolutely necessary commodities where they actually have the opportunities to do reasonable deals with the governments, and if the governments try to nationalize them, they can see that they’ll hurt themselves, and they do not have state owned vehicles who can operate these facilities. That doesn’t mean political risk isn’t important – it certainly is – but they have got enough areas of the world that they can expand in and that they can make money in, and meanwhile, because of the fact that they’ve been subject to litigation and these problems, what we haven’t had is a supply side response, so therefore metals prices keep going up. Now again, I was up against the argument that, “Well, as soon as the U.S. economy slows down then metals prices are going to go down.” Now this is about as absurdly an Amero-centered idea as you’re going to get – the idea that the price of copper is driven primarily by building houses in the U.S. financed by sub-prime loans is something that only somebody that doesn’t even have an American passport to travel abroad should have. What we know of course is that demand is driven by the third world driven by China and India, and there’s nothing out there that suggests that’s going to dwindle.
The central concept of our time is that it’s the new middle class in those countries in particular and other third world countries moving in dwellings with indoor plumbing, electricity, basic appliances, and buying cars that create sustained growth in demand for metals. Furthermore, whereas in the last big cycle that we had after World War II, the cycle came to an end when plastics intervened and stopped metals prices in their tracks, and gradually moved metal right out from all sorts of applications. Well, back then, oil was $3 a barrel, Natural gas was 20 cents an MCS. Oil price and natural gas prices have gone up more than metals prices, so plastics, gas can compete, but if you saw the deal announced this week between Dow Chemical and Saudi Arabia, what they have to do now is move into an area where they get subsidized hydrocarbons to expand production of plastics because within the U.S. they’re competing for every barrel of oil and every MCS of gas with real users.
So the arguments that I’ve been given for why this cycle was bound to collapse the way things did in the 60’s continue to be wrong. The advantage of having those big caps out there, which do have to attract some notice, is it’s saying that we’re a long way from the top. But that does mean that when you can find small companies that have unhedged reserves in the ground in politically secure areas, you can expect one way or the other you’re going to make more money on them then you would owning the big cap stocks. So that takes the kind of help that our research department can give you to find these names, but everything that I talk about is to reinforce your view that that’s where you should be searching – you should be prospecting within the mining group, and you shouldn’t be assuming that since I’ve made so much money up until now I should cash it out and move money into real stocks. These are real stocks.
Now, one group I haven’t mentioned in this is the gold stocks. Gold sold off sharply again after trying to go through 700 and it’s struggling to find a base. As you know from the current Basic Points we’re taking the view that now there is a reason for investing in gold on a basis of something other than looking for a financial collapse because we are going to get more inflation and therefore buying the purest play on that within the metals group is a good investment and the fact that there’s been a pullback creates a buying opportunity. Our thesis on inflation is that we’re going to have energy inflation, we’re going to have metals inflation, we are now having food price inflation.
Conclusion at about 26 minutes:
So all in all, you can understand that I've been subjected to a lot of strong arguments from very smart people that basically say, "Well, it was a great run while it lasted, but this isn't a time for committing any new capital to groups." I feel as strongly as ever that the best is yet to come, and you've just got to be prepared for criticism from people when you do something now, when you buy stocks that seem to have gone up so much, and say they're actually cheaper now then they were 3 years ago.
Q&A:
At about 31 minutes, in response to a question about whether oil might be better investment than metals because of China's smaller percentage of world consumption of oil and growing need for energy:
For new money, right now, I still think that, oil sand stocks apart, the general mining companies are a better value than oil companies. It's just a question of how much you're prepared to put in to a group. But longer run, I still remain a bull on oil stocks, and we never sold them, we've just said where should new money go and where should your weighting emphasis be.
http://www.siliconinvestor.com/readmsg.aspx?msgid=23537286
2007 Field Program Commences at Ruddock Creek Property
Friday May 11, 3:00 pm ET
http://biz.yahoo.com/cnw/070511/doublestar_ruddock.html?.v=1
Proceeds Received from Damoti Lake Sale
VANCOUVER, May 11 /CNW/ - Doublestar Resources Ltd. (DSR-TSXV) advises that Selkirk Metals Corp has provided a schedule of operations on the Ruddock Creek Property, which is located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia (the "Property"). Selkirk and Doublestar (the "Company") are in 70-30 joint venture on the Property and have entered into an arrangement that sets out the terms by which Selkirk will acquire 100% of Doublestar (see March 1, 2007 news release). In addition, the Company advises that it has received $700,000 from Anaconda Mining Inc as final payment for the sale of the Damoti Lake claims raising cash balances to $1.1 million (see November 30, 2006 news release). The Company retains a 20% working interest in certain of the Damoti claims.
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Ruddock Creek:
Road construction equipment has been mobilized to the Property and has commenced clearing snow from the access roads to and on the project area. The roads have been cleared to within one kilometre of where the road construction ended in 2006. At the close of operations in 2006, the access route was within 500 metres of the proposed exploration camp and core processing facilities and 1.7 km from the proposed portal and main mining camp area. The first phase of operations this season is to complete and install the exploration camp so diamond drilling can begin. The road construction will continue to the portal and main mining camp in order to mobilize underground mining equipment to the site. A 30 person trailer camp has been purchased by Selkirk and will provide housing, cooking, and recreation and office facilities for the workforce.
Three surface diamond drills have been contracted to complete a minimum of 10,000 metres of surface drilling focused on the E Zone, the Creek Zone, and the Q, R, V and U showings in Oliver Creek. Drilling operations are expected to commence on the Oliver Creek targets by early June, with the drilling on the higher E Zone and Creek Zone targets when ground conditions are favourable. Snow levels in the Ruddock - Oliver Creek drainages this winter were marginally less than historical averages thereby allowing for an earlier start on the 2007 program.
The 2007 underground work program on the Ruddock Creek Property will include a 1.1 kilometre decline at the E Zone to undercut the deepest drilling intersections to date. A total of 600 metres of development is planned sub-parallel to the mineralized horizon for detailed underground diamond drilling. Over the winter season a series of avalanche hazard assessments were completed to determine the optimal location for the proposed portal site, camps and access routes.
The metallurgical test work, begun in 2006, will continue to determine the optimal process flowchart for the mineralization. To date, the results have proven to be positive with the Acid Base Accounting of the host rock of the mineralization shown to be dominantly non acid generating. The preliminary Heavy Liquid or Dense Media Separation (DMS) testing at a crush size of 5/8 inch and a specific gravity of 2.7, sends 34% of the feed mass or volume to the tails with only 1% lead loss and 0.3% zinc loss. The first Flotation testing results have been received and at a grind size of 100 microns 93.4% of the lead and 99.4% of the zinc were floated into rougher concentrates. The results to date show that there are insignificant concentrations of deleterious or environmentally unfriendly elements.
Baseline environmental studies were ongoing over the winter and will continue to accumulate the data necessary for future permit applications.
As a result of the successful 2006 drilling program on the Ruddock Property, the Company is comfortable with the decision to proceed with the major surface drilling program, underground decline including diamond drilling and the camp installation. This work will enable the joint venture, for the first time, to operate on a year round schedule with no shut down due to winter conditions. This will facilitate underground diamond drilling to fully delineate the E Zone mineralization and allow for eventual bulk sampling.
Doublestar holds a 30% interest in the Ruddock Creek Property under the terms of a joint venture agreement with Selkirk who holds the 70% balance. Selkirk and Doublestar have signed an Arrangement Agreement which sets out the formal terms and conditions for the acquisition of Doublestar by Selkirk.
Exploration on the Ruddock Creek Property is being conducted under the supervision of Selkirk's Qualified Person (as defined by NI 43-101), Jim Chapman, P.Geo.
For further information on Doublestar Resources Ltd please visit our website at www.doublestar.net.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forwardâ(euro)'looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
For further information
Alan C. Savage, Chairman, Phone: (604) 688-7377
Source: Doublestar Resources Ltd.
Zincore Drills 64 Metres Grading 9.7% Zinc at Accha and Initiates Exploration at Yanque
Thursday May 10, 7:15 am ET
http://biz.yahoo.com/iw/070510/0251040.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 10, 2007 -- Zincore Metals Inc. (Toronto:ZNC.TO - News) ("Zincore" or "the Company") announces results from the 13 most recent holes drilled at its 100%-owned Accha deposit in Peru. Drilling continues to extend mineralization along strike to the west of the historical mineral resources and infill areas within the high-grade historical mineral resources. Eight of the most recent holes were exploration holes outside of the historical mineral resource areas and five were definition holes within or below the historical mineral resource areas.
The current focus of 20,000-metre exploration drilling program at Accha is to extend zinc mineralization (which is spatially associated with an east-west trending fold structure) along strike to the west. Highlights of the most recent exploration drilling include:
- Hole AC-42 which intersected 64 metres at 9.7% zinc including intervals of 17 metres at 14.5% zinc and 13 metres at 16.7% zinc
- Hole AC-33 which intersected 18 metres at 6.4% zinc
Hole AC-42, which intersected the widest section of ore-grade mineralization drilled to date on the property, was 50 metres west of the previous most westerly drill holes and approximately 100 metres west of the historical mineral resource envelope. Hole AC-33 was an additional 150 metre step-out to the west of hole AC-42, and intersected what is interpreted as the northern edge of the fold structure.
Commenting on the exploration drilling, Zincore's President and CEO Timo Jauristo said: "Hole AC-42 is certainly the highlight of the drilling and demonstrates that wide zones of high-grade mineralization extend to the west. The thickness of the intersection at that grade is an encouraging result. A number of our exploration holes targeted the extension of the fold structure to the north. While these holes intersected mineralization and the favourable alteration, these results combined with results from AC-41 and AC-42 has led to reinterpret the trend of the high-grade mineralization further to the south. We have now commenced step-out drill holes to the south of holes AC-27, AC-32 and AC-39."
Infill drilling continues to upgrade drill density within the historical mineral resource envelope. Highlights of the most recent infill drilling include:
- Hole AC-38 which intersected 15 metres at 9.8% zinc and 24 metres at 18.6% zinc including an interval of 12 metres at 36.0% zinc
- Hole AC-36 which intersected 32 metres at 4.8% zinc from 23 metres including an interval of 6 metres at 18.0% zinc
A total of 44 holes totaling 8,370 meters have been drilled at Accha with three rigs continuing on site. A drill hole location map is available on Zincore's website at www.zincoremetals.com.
At the Yanque deposit, Zincore has signed an agreement with local communities that grants Zincore access to the property to conduct exploration work on the deposit. Yanque, 30 kilometers southwest of the Accha deposit, is the other known deposit within the Accha-Yanque Project and hosts an inferred mineral resource of 6.6 million tonnes grading 5.3% zinc and 3.5% lead. Crews from the local community have already commenced upgrading the access road to the project site. Field work consisting of mapping, trenching and water sampling will begin shortly and applications for drill permits are being prepared. A 10,000-metre drill program is planned for 2007 at the Yanque deposit.
--------------------------------------------------------------------------
Definition Drill Holes
--------------------------------------------------------------------------
Intersection
--------------------- Estimated
Hole From To True Width Zinc Lead
No. (metres) (metres) (metres) (%) (%)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-34 256.8 261.8 3.7 5.29 0.55
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-35 No significant values
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-36 6.5 10.9 4.4 11.18 0.83
--------------------------------------------------------------------------
--------------------------------------------------------------------------
22.5 54.4 31.9 4.76 0.07
--------------------------------------------------------------------------
including 40.0 46.0 6.0 18.03 0.12
--------------------------------------------------------------------------
--------------------------------------------------------------------------
65.5 77.9 11.7 3.14 0.08
--------------------------------------------------------------------------
--------------------------------------------------------------------------
81.9 90.1 8.5 1.78 0.09
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-37 No significant values
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-38 8.0 22.2 15.2 9.82 1.96
--------------------------------------------------------------------------
--------------------------------------------------------------------------
25.2 35.7 10.5 4.54 0.19
--------------------------------------------------------------------------
--------------------------------------------------------------------------
45.8 71.2 24.4 18.64 0.03
--------------------------------------------------------------------------
including 45.8 58.3 12.0 35.98 2.92
--------------------------------------------------------------------------
Exploration Drill Holes
--------------------------------------------------------------------------
Intersection
--------------------- Core
Hole From To Interval(i) Zinc Lead
No. (metres) (metres) (metres) (%) (%)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-27 No significant values
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-31 198.3 206.3 8.0 2.52 0.50
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-32 No significant values
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-33 361.0 379.4 18.4 6.43 1.25
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-39 No significant values
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-40 255.0 276.0 21 1.21 0.14
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-41 182.7 204.2 21.5 4.16 0.78
--------------------------------------------------------------------------
--------------------------------------------------------------------------
AC-42 128.5 192.8 64.3 9.71 3.23
--------------------------------------------------------------------------
including 133.0 138.0 5.0 11.90 18.46
--------------------------------------------------------------------------
including 142.0 159.3 17.3 14.53 2.98
--------------------------------------------------------------------------
including 165.8 178.8 13.0 16.73 1.84
--------------------------------------------------------------------------
--------------------------------------------------------------------------
209.8 212.8 3.0 5.65 0.20
--------------------------------------------------------------------------
(i) True widths not currently known
Eagle Plains Acquires Yukon Zinc Project
13:43 EDT Wednesday, May 09, 2007
FSC / Press Release
Eagle Plains Acquires Yukon Zinc Project
Cranbrook, British Columbia CANADA, May 09, 2007 /FSC/ - Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB), has acquired by staking a 100% interest in the FIN group of mineral claims located 135km south of Ross River, Yukon. The property consists of 108 claims covering an area of some 22 square kilometers located within 12km of the Robert Campbell Highway.
The claims cover a Sedex-style mineralized system explored by past operators from 1978 to 1996. Mineralization consists of numerous lenses of massive sulphide material reported over a strike length of 1.1km, hosted by sediments of the Devono-Mississippian Earn Group.
Previous work consisted of stream-sediment sampling, geological mapping, soil geochemical sampling, geophysical surveys, and limited diamond drilling. The best reported drill intercept was 12.55% zinc and 33 g/T silver over 1.2m.
Eagle Plains plans to complete a compilation of all existing data, followed by systematic exploration of the property area.
Eagle Plains Resources continues to conduct research, acquire and explore metal projects in western Canada. The Company controls over 35 gold, base-metal and uranium projects, many with third parties including Alexco Resource Corp. (TSX-V: AXR), Wellstar Energy Corp. (TSX-V: WST), Blue Sky Uranium Corp. (TSX-V: BSK), Blind Creek Resources and Golden Cariboo Resources Inc. These agreements expose Eagle Plains to over $18.0 million in exploration expenditures over the next five years. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 38,000m (125,000') of drilling and over $16,000,000 in exploration spending on its projects since 1998. During the 2006 season, EPL and its partners completed over 7,000m (23,000') of diamond drilling on its properties.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
For further information, please contact:
Mike Labach
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com
Website: http://www.eagleplains.com
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
Zinc finally shakes off the bears and powers higher
Metals Insider - 08 May 2007
MI WEEK IN REVIEW: It’s been a long time coming but LME zinc prices last week finally escaped the clutches of the technical bears and powered higher amid renewed focus on the market’s fundamental dynamics and a month-start wave of fresh investment money that rolled through the whole LME metals complex.
Fundamental Stimulus
As we said in this column last week, zinc seemed ready to emerge from its winter hibernation and rejoin the bull party. It just needed the right trigger to break the bearish grip of the technical funds and the producer sellers that had capped the market around the $3,700 level, basis 3-month metal.
In the event it got a double fundamental incentive to move higher. When London traders sat down to their desks last Monday, they did so to breaking news of a national mining strike in Peru and a court set-back for Xstrata’s plans to convert its McArthur River mine from underground to open-pit.
In truth, neither was quite the be-all-and-end-all claimed by some of the market bulls. The court ruling on McArthur River did not concern itself with the project’s much-publicised environmental credentials but rather pinpointed a lack of due process on the part of the state government of Australia’s Northern Territory. The government duly rushed off to pass an emergency amendment to its legislation and by the end of the week Xstrata had resumed its conversion work, without which the mine would close.
Nor did the Peruvian strike ever seem likely to exert a long-lasting impact on zinc’s fundamental dynamics. True, the country is a major producer of concentrates and true, some of its zinc mines were affected, but the strike only attracted limited support. The organisers claimed that around 27,000 of a total 120,000 participated. The Ministry of Labour put the figure at just 5% of the national’s mining workforce. Nor was anyone under any illusion that the government would allow it to become a drawn-out affair. It negotiated with the strike leaders even while threatening to declare the action illegal, which would have forced a mass return to work. In the event a deal was reached by Friday.
However, the constant media updates on both stories throughout the week did the bulls’ cause no harm at all and they did cause a refocus of attention on developments in zinc’s raw materials markets.
While there is a consensus that a wave of new and re-opened mined capacity is going to hit the zinc market with cumulative force over the next two years, it is also clear that the concentrates market is not yet generating a surplus that could withstand the shock of a major mine closure, which was the threat at McArthur River.
As always with new projects, several have temporarily run aground or are running late. Australia’s Herald admitted last week that it is still missing a key permit to start major activities at its Dairi project in Indonesia. Aur Resources’ Duck Pond mine in Canada has fared better, achieving commercial production status in March, but note it was originally expected to have come into production by the end of last year.
In the mix is recent scuttlebutt on the London “street” that some smelters are still struggling to source sufficient concentrates.
There was also a “hidden” supply disruption last week in the form of a strike at US producer Horsehead’s Palmerton zinc refinery in the US. So far this has not made it beyond the local press, which means it has barely featured on the market’s radar.
Bear Retreat
But the liberal sprinkling of supply-side news was the stimulus needed for zinc to make a clear upside break through a band of resistance in the $3,700-3,900 area.
The fuse burned slow at first, LME 3-month making solid but unspectacular progress in the first part of the week with volumes dented by May Day holidays in many parts of the world. It rose by $81 to $3,756 at Monday’s close and then by another $104 to $3,860 at Tuesday’s close. Amid general lethargy, it did little more than hold station over Wednesday, edging up a marginal $5 to $3,865 at that day’s close.
But that steady progress forced out the last of the technical fund bears. Our sources estimate the CTA systematic community, who went collectively short in early January, finally returned to neutral over the first half of the week. At the same time the London “street” chatter turned from pending producer sales to pending producer hedge buy-backs.
With pressure from both key bearish influences receding, the market was perfectly balanced for the late Thursday and Friday wave of what looked like fresh index fund money hitting several of the LME metals.
Several of the big bank players have been recommending zinc to their clients for some time—based on its relative under-performance to other LME metals and the impact on stocks both of seasonally strong demand in the second quarter and signs that the flood of Chinese exports looks as if it might be abating.
But we suspect the renewed enthusiasm for the industrial metals complex last week also owed something to shifting sentiment about the state of the US economic nation. After the gloom generated by the previous Friday’s first-quarter growth estimate, the news coming out of the US got steadily better as last week progressed. From a metals perspective, the highlight came in the form of a much better-than-expected reading from the monthly survey of the manufacturing sector by the Institute for Supply Management. The headline index jump to 54.7 in April from 50.9 in March saw a collective reappraisal of the outlook for the country’s factories with the ripple effects evident across the whole financial markets spectrum.
That renewed investment fund flow came just as the last technical bears and producers were disappearing into the undergrowth and it helped zinc power up and through the big-number $4,000 level for an end-of-week close at $4,170—a remarkable week-to-week gain of $495, or 13.5%. By the end of the week the “black-box” CTAs were buying into price strength and were once again collectively long to around 20% of historic capacity.
Unsurprisingly, particularly in light of steadily-falling LME warehouse stocks, the jump higher in outright prices was accompanied by a vicious tightening of the market’s nearby structure. The full cash-to-3-months period ended Friday valued at $18 backwardation, compared with $12 contango the previous Friday.
The bears have taken a battering and the bulls are in full voice again—there’s even talk of zinc exceeding last year’s highs up at $4,600. This market has truly woken up!
Online source:
http://www.metalsinsider.com/WIR/20070508zn.html
Metalline Mining (MMG)
The Real Deal
May 8th, 2007
We’ve written about Metalline Mining (MMG) as an incredible long-term investment opportunity since the beginning of last year, doing extensive research and analysis of the company, the sector, the metals markets, and many other companies to verify that Metalline truly was an exceptional value. However, even that extensive due diligence didn’t prepare us for what we saw when we visited their Sierra Mojada mine site in Mexico last week.
There were 3 main takeaways we got from this trip:"
More, including photos at the link below:
http://greattrades.blogspot.com/2007/05/real-deal.html
Redcorp Ventures Ltd.: Update on Permitting and Environmental Certificate Amendment Process
Wednesday May 9, 9:00 am ET
http://biz.yahoo.com/iw/070509/0250409.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 9, 2007 -- REDCORP VENTURES LTD. (Toronto:RDV.TO - News) and Redfern Resources Ltd. ("Redfern"), its wholly-owned subsidiary, (together the "Company"), are pleased to provide an update on the amendment process involving the existing Environmental Assessment Certificate for the development of the Tulsequah Chief copper-lead-zinc-silver-gold mine in northwest British Columbia.
The British Columbia Environmental Assessment Office held its first Project Committee meeting on May 1, 2007 to review Redfern's request for an amendment to its Project Approval Certificate M02-01 for consideration of barging on the Taku River as the preferred access route rather than the currently permitted Atlin road route.
As the process moves forward, the next step will be the circulation of a Terms of Reference document which defines the scope of work necessary to complete Volume II of the Project Description. The Terms of Reference will contain socio-economic and environmental information pertinent to the assessment of the barging option and work on this document has already commenced. Completion of Volume II of the Project Description is anticipated in early July and is an important milestone for regulatory review on both sides of the Canada/US border.
Following the Project Committee Meeting in Vancouver, the Company held a meeting in Juneau, Alaska on May 3, 2007 with regulatory agencies of the United States, the State of Alaska and the British Columbia Environmental Assessment Office. The purpose of the meeting was to present information and answer preliminary questions for these agencies about the proposed barging option. The meeting concluded with the Company's understanding that two state permits but no obvious federal US permits would be required.
In addition to the regulatory meeting in Alaska, Redfern individually met with specific stakeholder groups such as commercial fishers, non-governmental organizations, tourism operators and recreational home owners prior to holding a general public informational meeting on the evening of May 3, 2007. In general, the public information meeting was well received by community members and stakeholders in the region.
Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca or by calling toll-free to Troy Winsor, Manager of Investor Relations, at 1-888-225-9662.
ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.
Terence Chandler, President and CEO
Certain of the statements made and information contained herein is "forward- looking information" within the meaning of the Securities Act (Ontario) and the Securities Act (Alberta) . Forward-looking information includes disclosure regarding possible or anticipated events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action and includes future oriented financial information with respect to prospective results of operations or financial position that is presented either as a forecast or a projection. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or "might" occur or be achieved; and, other similar expressions.
More specifically, forward-looking information contained herein includes, without limitation, statements concerning the Company's plans at its Tulsequah Project (inclusive of the Big Bull Project), the net present value of the Tulsequah Project, the timing and amount of estimated future production and mine life, expected future prices of gold, silver, copper, lead and zinc, metallurgical response and net smelter return valuations, mineral reserve and mineral resource estimates, estimated capital and operating costs of the project, estimated capital pay back period, timing of development and permitting time lines; all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Forward-looking information contained herein is based on material factors and assumptions and is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from a conclusion, forecast or projection in the forward-looking information. These include, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the availability of financing for activities when required and on acceptable terms, the accuracy of the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the consistency of future exploration, development or mining results with the Company's expectations, metal price fluctuations, the achievement and maintenance of planned production rates, the accuracy of component costs of capital and operating cost estimates, current and future environmental and regulatory requirements, favourable governmental relations, the availability of permits and the timeliness of the permitting process, the availability of shipping services, the availability of specialized vehicles and similar equipment, costs of remediation and mitigation, maintenance of title to the Company's mineral properties, industrial accidents, equipment breakdowns, contractor's costs, remote site transportation costs, materials costs for remediation, labour disputes,
the potential for delays in exploration or development activities, timely completion of future NI 43-101 compliant reports, timely completion of future feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, continuing global demand for base metals, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form, dated March 28, 2006, and in each subsequent Management's Discussion and Analysis. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
News release 07-16
Contact:
Contacts:
Redcorp Ventures Ltd.
Troy Winsor
Manager of Investor Relations
1-888-225-9662
Websites: www.redcorp-ventures / http://www.redfern.bc.ca
Source: Redcorp Ventures Ltd.
Marifil Intercepts Promising Zinc, Indium and Gold Mineralization in Drilling at San Roque
Tuesday May 8, 7:26 am ET
Results include 10.5 m of 473 g/t (including 2.7 m of 1,459 g/t) Indium
http://biz.yahoo.com/ccn/070508/200705080389081001.html?.v=1
SPOKANE, WASHINGTON--(CCNMatthews - May 8, 2007) - MARIFIL MINES LTD. (TSX VENTURE:MFM - News; "Marifil" or "the Company") announces that preliminary assay results from its recently completed 28-hole drill program indicate significant indium, zinc and gold mineralization at its San Roque project, Rio Negro Province, Argentina. These latest results confirm previously reported findings in surface and trench samples (see Marifil News Releases of April 9 and February 15, 2007.)
Assay results from the first four diamond drill holes at San Roque show several important gold, indium, and zinc intercepts. (The balance of the assay results are in process at Alex Stewart Laboratory in Mendoza, Argentina and are expected later this month.) Results include:
Drill Hole From - To Interval Au Indium Zinc
(m) (g/t) (g/t) (%)
-------------------------------------------------------------------
1 20.00 - 20.50 0.50 0.36 264 0.12
2 34.40 - 44.90 10.50 0.76 473 0.06
Including 2.70 0.87 1,459 0.11
3 15.60 - 22.70 7.10 2.46 8 0.14
Including 0.80 7.92 16 0.09
4 42.90 - 46.00 3.10 2.91 370 0.10
Including 1.00 7.20 780 0.11
plus 66.80 - 66.80 1.00 0.19 207 4.42
plus 74.00 - 78.50 4.50 0.37 499 6.64
including 0.90 1.31 1,160 14.81
plus 82.00 - 83.00 1.00 0.65 255 5.99
plus 86.00 - 87.00 1.00 0.22 551 7.92
Legend signs JV with Oxiana on Mt Gibson project
8-May-07 by Edited announcement
http://www.wabusinessnews.com.au/en-story/1/51877/Legend-signs-JV-with-Oxiana-on-Mt-Gibson-project
West Perth-based mineral explorer Legend Mining Ltd will allow Oxiana subsidiary Oxiana Exploration Pty Ltd to earn a 75 per cent interest in its Mt Gibson zinc, copper and gold project under a joint venture announced today.
Oxiana must provide Legend with $10 million to fund exploration of the site within 7 years, with Legend 25 per cent free-carried to completion of a bankable feasibility study and a decision to mine.
Oxiana must spend $1.2 million within 18 months before having a right to withdraw.
The full text of a Legend announcement is pasted below
Legend Mining Limited (ASX: LEG) today announced that it has signed a Farm-In and Joint Venture letter agreement with Oxiana Exploration Pty Ltd, a wholly-owned subsidiary of Oxiana Limited (ASX:OXR), over its Mt Gibson Project (zinc-copper-gold), which lies 100km south of Oxiana's world-class Golden Grove Mine.
Oxiana may earn 75% interest in the project by funding $10 million of exploration within 7 years, with Legend 25% free-carried to completion of a bankable feasibility study and a decision to mine. Subject to satisfactory completion of due diligence by 31 May 2007, Oxiana must spend $1.2 million within 18 months before having a right to withdraw.
Legend Managing Director Mark Wilson said "Oxiana's Golden Grove knowledge makes them an ideal joint venture partner for Mt Gibson. They are clearly committed to well funded exploration as demonstrated by the recently announced increase in their funding
of exploration and resource development at Golden Grove to $15 million in 2007."
"This deal is great for Legend shareholders and completes our current strategy of ensuring that all our projects are fully active with serious and well funded operators."
"With this and the recently announced sale of the Gidgee Gold Project to Apex Minerals NL (ASX:AXM), Legend is now freed-up to focus our exploration funds and activities on unlocking further value from our highly prospective Gum Creek Project (nickel-copper platinum group element) and emerging Pilbara Project (nickel-copper, zinc-copper, copper-gold)."
Deal Summary
* Oxiana to spend $10 million within 7 years to earn a 75% interest in the project commencing 1 June 2007;
* Legend to be 25% free-carried to completion of a bankable feasibility study and decision to mine;
* A minimum of $1.2 million to be spent within the first 18 months before Oxiana can withdraw;
* Each party has a first right of refusal over the sale of all or part of the other party's joint venture interest;
* The 1 million tonne per annum plant and single mens' camp is excluded from the joint venture;
* Legend will remain responsible for the historical environmental liability until Oxiana has earned its interest;
* Subject to a period of Due Diligence until 31 May 2007;
* The letter agreement will legally bind Oxiana and Legend until such time as it is replaced by a formal Farm-In and Joint Venture Agreement.
Firestone Ventures Completes Drill Program at Torlon Hill Zinc Project-Intersects 9.7 Metres of 9.1% Zinc Including 1.5 Metres of 36.3% Zinc
Friday May 4, 11:59 am ET
http://biz.yahoo.com/ccn/070504/200705040388573001.html?.v=1
EDMONTON, ALBERTA--(CCNMatthews - May 4, 2007) - Firestone Ventures Inc. (TSX VENTURE:FV - News; FRANKFURT:F5V - News) is pleased to announce the remaining drill results from step-out drill holes TH07-54 to TH07-62 inclusive and partial results from TH07-63 at the Company's Torlon Hill high-grade zinc project, western Guatemala.
The best intersection was in drill hole TH07-57, which intersected 9.7 metres of 9.1% zinc and 5.2% lead, including 1.5 metres of 36.3% zinc and 0.6% lead. Highlights of significant drill intersections are given below and a full summary and updated drill hole location map is available at www.firestoneventures.com.
-------------------------------------------------------------------------
Total Silver
Depth From To Thickness Zinc Lead grams/
Hole No. (metres) (metres) (metres) (metres) % % tonne
-------------------------------------------------------------------------
TH07-55 147.8 77.0 79.0 2.0 3.3 0.3 10
-------------------------------------------------------------------------
TH07-56 166.7 78.2 89.9 11.7 2.0 2.0 12
-------------------------------------------------------------------------
Including 80.8 81.7 0.9 7.7 4.7 37
-------------------------------------------------------------------------
TH07-57 146.3 66.0 75.7 9.7 9.1 5.2 12
-------------------------------------------------------------------------
Including 72.5 74.0 1.5 36.3 0.6 6
-------------------------------------------------------------------------
TH07-63 86.9 98.0 102.0 4.0 2.7 0.2 3
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Tamerlane Contracts Freeze Perimeter Engineering for Pine Point Project
Wednesday May 2, 11:16 am ET
http://biz.yahoo.com/ccn/070502/200705020387958001.html?.v=1
BLAINE, WASHINGTON--(CCNMatthews - May 2, 2007) - Tamerlane Ventures Inc. (TSX VENTURE:TAM - News) is pleased to announce that the Company has finalized an engineering contract for the freeze development of the R-190 deposit for the Pine Point Project, located in the Northwest Territories, Canada. Tamerlane has contracted Layne Christensen Company to carry out engineering and design of the freeze perimeter, which is a major component of the development of the R-190 deposit.
Tamerlane's proposed freeze perimeter will employ ground freezing techniques that have been used extensively for groundwater control and excavation support in the underground construction industry for over 100 years.
Work to be performed by Layne Christensen will include the engineering design of the freeze system for the R-190 Deposit.
Ross Burns, President & CEO, said: "We are pleased that we have selected Layne Christensen Company for the freeze perimeter work. This represents another significant step toward putting Pine Point back into production. As previously announced, the results of the feasibility study are expected to be released in the near future."
Ross F. Burns, President & CEO
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in zinc, lead and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
Contact:
Brent Jones
Tamerlane Ventures Inc.
Manager of Investor Relations
(360) 332-4653
(360) 332-4652 (FAX)
Email: bjones@tamerlaneventures.com
Website: www.tamerlaneventures.com
Source: Tamerlane Ventures Inc.
Blue Note Mining Project Update - Caribou on Track for Second Quarter Re-opening
Wednesday May 2, 9:51 am ET
http://biz.yahoo.com/cnw/070502/e_bluenote_project.html?.v=1
Shares outstanding: 271 Million Symbol & Exchange: BN-TSXV
MONTREAL, May 2 /CNW Telbec/ - Blue Note Mining today reports on the activity for the first quarter of 2007 at the Caribou mine site. Concentrate production is on track to begin in late June of this year.
The majority of the activity at the site has centered on the refurbishment and construction of the mill and concentrator. In the concentrator structural steel work was executed and the re-installation of refurbished flotation cells for both the lead and zinc circuits were completed. Piping and electrical installation was also undertaken and is anticipated to be finished by the middle of May.
Mr. Paul Laframboise, Mill Manager for Blue Note Caribou Mines says "the refurbishment of the mill and the concentrator is proceeding on schedule. The original plan overseen by John Martin in 2001 has been implemented and I look forward to bringing this mill back into production."
Three IsaMills, to be used for the lead re-grind, were also installed in April. This proven technology will permit the required mineral liberation to be achieved in a more energy-efficient and selective manner than would have been obtained using ball mills. Caribou will be the first mill in North America to use IsaMills. There are currently 34 IsaMills in use internationally.
Currently there are over 500 people working on site. The company has hired over 80% of its staff for the mill and they are working their regular shifts.
"Cold commissioning" of the mill is scheduled for mid-May with first ore production still on track for the latter part of the 2nd quarter 2007.
Approximately 60% of the Caribou underground mine is rehabilitated and access to initial production is now ready. Blue Note took delivery of its primary mobile fleet which included drill jumbos, scoop trams, and haulage trucks.
In-mine development commenced in early April as well as the cleaning of previously drilled production holes. Production drilling started in April and the first long hole blast is ready.
Dewatering of the Restigouche open pit mine has been hindered by inclement weather but is expected to be finished in time for production. Towards the end of the quarter, plans were being prepared for the commencement of ore definition and resource definition drilling.
Blue Note has decided to use contract miners during the initial phase of mine production. The company has extended its contract with J. S. Redpath Inc. to fulfill this role.
Blue Note has developed a three-year exploration plan including a strategy for regional exploration in the Bathurst camp. Blue Note will undertake a comprehensive geophysical survey over the Caribou property and nearby Armstrong property. Drilling and IP surveys will be done on the Restigouche, McMaster and Orvan Brook properties also.
Discussions on a sales contract for 100% of the company's lead and 50% of the company's zinc concentrates are advanced and Blue Note anticipates concluding these contracts very shortly. Additional talks are on-going with other interested parties for the remainder of Blue Note's zinc concentrates.
Blue Note has 90 full-time employees which represents approximately seventy-five percent of the total requirement for full scale operations.
Blue Note Mining is a mineral exploration and mine development company with properties in New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BN.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information
Lorne Woods, Vice President, Investor Relations, Blue Note Mining, (800) 937-3095, lwoods@bluenotemining.ca
www.bluenotemining.ca
Source: Blue Note Mining Inc.
Pacifica Resources Announces 2007 Selwyn Drilling Commences in Don Valley
Monday April 30, 10:06 am ET
http://biz.yahoo.com/iw/070430/0245675.html
VANCOUVER, BC--(MARKET WIRE)--Apr 30, 2007 -- Pacifica Resources Ltd. (CDNX:PAX.V - News) is pleased to announce that the diamond drilling program has commenced on the Selwyn Project. Two diamond drills contracted for exploration drilling on the Selwyn Project are now coring in the Don Valley with a third diamond drill starting up later this week. All remaining diamond drills will commence drilling over the next five to six weeks. The program consists of a minimum 40,000 metres of diamond drilling that will be mostly in-fill drilling but will also include the testing of some high-priority regional stratigraphic targets outside of the defined deposits and zones. The exploration drilling is a major component of a minimum $25 million budget that also includes continuing engineering and environmental studies.
Since 2005, Pacifica successfully completed 49,975.5 metres in 244 drill holes that resulted in discovery of the Don, Don East, HC West, HC, Brodel, OP West and Pelly North zones. These new discoveries have built upon the large geological database from former operators who had completed a total of 36,359 metres of diamond drilling in 218 drill holes, mostly in the Anniv and XY deposits. Detailed drilling has defined a very large Mineral Resource Inventory for the Howard's Pass deposits. Indicated mineral resources have increased more than 158% to 86,600,000 tonnes, grading 4.93% zinc and 1.73% lead containing 9,406 Mlbs zinc and 3,293 Mlbs lead. The Inferred mineral resources increased more than 91% to 215,460,000 tonnes, grading 4.71% zinc and 1.48% lead containing 22,377 Mlbs zinc and 7,025 Mlbs lead (see April 2, 2007 news release).
The initial diamond drilling throughout the Don Valley will follow-up on high-grade results from both the Don East and Don deposits. The definition drilling is designed to increase the confidence in the shallow zinc-lead mineralization amenable for open-pit mining, as well as expand the high-grade mineral potential amenable for underground mining. The evaluation of higher grade mineralization is focused on defining sufficient resources to provide 5,000 to 10,000 tonnes per day from underground mining to the current 20,000 tonnes per day open pit development plan (see January 18, 2007 news release).
The regional stratigraphic drilling will be focused in areas where there is significant near surface mineralization that could lead to development of additional mineral potential for shallow zinc-lead mineralization and areas of higher-grade mineralization such as has been defined in the XY zone. These higher-grade zones could form the basis of defining resources for large scale underground mining. There can be no assurance that such new mineral resources will be defined; however, the exceptional continuity of the mineralization within the favourable Active Member suggests a reasonable probability of doing so.
Coincident with the start of diamond drilling activities, Pacifica field crews have recommenced the construction of an airstrip for the new exploration camp in the Don Valley. To date, there has been significant progress and work is ahead of schedule. In addition, field crews have undertaken the rehabilitation of the extensive exploration trail infrastructure established by prior operators throughout the Don Valley. These trails will serve as access for the current diamond drill program thereby further reducing logistical support costs in 2007.
The Howard's Pass District exploration program is being reviewed by Qualified Person Mr. Jason Dunning, M.Sc., P.Geo., under the meaning of National Instrument 43-101. The onsite Qualified Person for the Selwyn Project is John J. O'Donnell, P.Geo., under the meaning of National Instrument 43-101.
Note that all discussion of NI 43-101 compliant Indicated and Inferred mineral resources are referenced in the March 2006 NI 43-101 report for the Selwyn Project. A NI 43-101 report for the recently updated mineral resource for the Selwyn Project will be filed shortly. In reviewing historical resources, all discussion of Indicated mineral resources that predate introduction of NI 43-101 should be considered as Inferred mineral resources. All historical Inferred mineral resources that predate NI 43-101 should be considered as areas of mineral potential requiring further definition through drilling. Historical mineral resources are referenced in the June 2005 NI 43-101 report for Howard's Pass. Copies of the reports can be viewed at www.sedar.com.
Pacifica's main focus is the exploration of its Selwyn Project in eastern Yukon and Northwest Territories. The Selwyn Project hosts very large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production of zinc and lead, at a time when World's zinc mine supply is in deficit and there are few new zinc-lead mines under development.
This press release contains forward-looking statements concerning the mineralization at and the potential of the Selwyn Project. These forward-looking statements are based upon the reasonable beliefs of Pacifica and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Pacifica. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Pacifica may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Pacifica does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
News Release - 2007-21
Pacifica Resources Ltd.
#701 - 475 Howe Street
Vancouver, British Columbia
Canada V6C 2B3
info@pacifica-resources.com
http://www.pacifica-resources.com
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact:
For more information contact:
Dr. Harlan Meade
President and CEO
Jasmin TamDoo
Manager of Investor Communications
Telephone: (604) 682-5474
Toll-free: 1-877-682-5474
International Toll-free: 800-8682-5474
Facsimile: (604) 682-5404
Email Contact
http://www.pacifica-resources.com
Source: Pacifica Resources Ltd.
Zinc miner Perilya looks deeper and beyond Broken Hill
http://www.mineweb.net/mineweb/view/mineweb/en/page36?oid=20243&sn=Detail
Australiam mid-tier miner, Perilya, already one of the world’s more important zinc producers, is opening a new mine and boosting its exploration activities.
Author: Ross Louthean
Posted: Monday , 30 Apr 2007
ADELAIDE -
One of Australia's high flying mid tier miners Perilya Ltd (ASX: PEM) will be using its growing coffers to more aggressively explore and develop in the Broken Hill region, bring on a new mine in South Australia, lift its search spend elsewhere and consider mergers and acquisitions opportunities, particularly in Australia.
Perilya's chief executive Len Jubber outlined progress and plans at the Paydirt's South Australian Resources & Energy Investment Conference in Adelaide today, and said the company now has $A150 million in cash.
Its strong cash flow from the Broken Hill operations acquired from the asset sales of stressed Pasminco Ltd (later rebuilt as Zinifex Ltd) six years ago should see growth from improved performance there and also from the low capital cost bonanza-zinc Beltana project in South Australia's Flinders Range.
Jubber said that the priority for the early operating years was to pay off the 66% balance owed for the purchase of the Broken Hill mines and infrastructure.
If all the advanced exploration, advanced development and feasibility studies come together then Perilya could within three to five years lift its annual production to about 200,000t of contained zinc. Perilya is already ranked as the 12th largest zinc producer in the world.
He described the situation on slow exploration until now on many good properties to have been embarrassing, but the company was now clear of debt to march forward.
There were now four drill rigs operating in the Broken Hill region and one of the promising regional properties was Henry George (A best recent hole was 8 metres from 105m depth grading 11.3% zinc, 2.5% lead and 40 grams/tonne silver).
The Beltana open cut as the first stage of Perilya's Flinders project has reached the stage where it is down to 70m and this relatively small mine will be developed a further 30m to take out 376,000 tonnes grading 32.6% Zn, of which a large section grades 40%.
It is willamite ore and challenges some conventional smelters and refineries. Jubber told Mineweb that the Flinders project is near the Leigh Creek coalfield so it is close to the railway down to Port Pirie. Beltana ore could be sent to Thailand or China where some Beltana ore from a previous owner has been processed. Beltana could provide Perilya with an internal rate of return of 88%. That IRR could lift to 100% if the low grade (10-20% zinc ore) could be treated by a hydrometallurgical or some other process - an issue being discussed with several parties.
Developments detailed to the conference were:
* The Potosi decline mine, 3 kilometres from the company's North mine at Broken Hill, will hit ore in the September quarter and is set to provide 200,000 tonnes per annum to the Broken Hill concentrator.
* A $5 M feasibility study is advancing on re-opening the North Deeps (including the Fitzpatrick zone) which was shut during flat metal prices back in 1993 and should be completed in the next nine months. This, if found viable, would access major reserves including zones grading up to 25% Zn. Jubber told Mineweb an added advantage from this exercise is that the dewatering will help resolve drought-hit region's shortage of water.
* The second stage of the Flinders project could take in development of the Reliance deposit (355,000t @ 29.5% Zn) and other discoveries, while exploration will build up to focus on 15 targets in this vast exploration licence.
* The Mount Oxide project in the Mt Isa region has a resource of 4 Mt at 2.8% Cu and within the licence area there are several major targets with mineralisation considered to be similar to the Mt Gordon mine to the south. Perilya was contemplating discussions with Indian company Adijya Birla which owns Mt Gordon on the potential to have Mt Oxide and any other ore treated. Mt Oxide is 25 km from Mt Gordon.
Chelyabinsk Zinc Plant Reports 15.5% Production Increase in 1Q 2007
http://www.russianewswire.com/releases_headlines_details.php?id=10456
CHELYABINSK, Russia (RNWire) - Chelyabinsk Zinc Plant (LSE: CHZN, RTS: CHZN), Russia’s largest producer of zinc and zinc alloys, is pleased to announce its production results for the first quarter of 2007.
In January - March 2007 Chelyabinsk Zinc Plant (CZP) produced 40,145 tons of SHG zinc and zinc based alloys, 15.5% more than for the same period of 2006 (34,763 tons). Domestic market remains to be CZP’s core market, 51% of the plant output was supplied to Russian customers.
CZP’s subsidiary, Nova-Zinc, the operator of the Akzhal zinc ore mine in Kazakhstan, mined 339,301 tons of ore in the first quarter of 2007, 10.3% more than for the same period of 2006 (307,606 tons). The average content of zinc in the ore was 2.43% with the average lead content of 0.66%, compared to 2.87% and 0.72% respectively in the first quarter of 2006. Production of zinc concentrate totaled 14,181 tons, 3.5% less than in the first three months of 2006 (14,702 tons). Lead concentrate production increased by 1.9% to 2,791 tons, compared to 2,738 tons in January-March 2006.
Since the beginning of the year, all zinc concentrate produced by the Akzhal mine have been supplied to the Chelyabinsk Zinc Plant.
Commenting on the production results, Sergei Moiseyev, Chairman of the Board, said: "Our core operations continued to perform well and we expect to produce 165,000 tons of SHG zinc in 2007”.
About Chelyabinsk Zinc Plant
Chelyabinsk Zinc Plant OJSC is a leading Russian zinc producer. It is responsible for approximately 60% of Russian zinc production volume. In 2005 the plant produced 116,000 tons of SHG zinc. According to IAS consolidated accounts, revenues in 2005 reached RUR 4.791 billion, and net profit was RUR 147.2 million.
52.34% shares of CZP belong to ”NF Holdings B.V.” (Netherlands). 50% shares of NF Holdings B.V. belong to Arkley Capital S.à r.l., Luxemburg.
Ordinary shares of CZP are traded on the RTS exchanges, under ticker CHZN, and Global Depository Receipts (GDR) are traded on the London Stock Exchange under ticker CHZN.
Zinifex nine-month production slips 8%
April 26, 2007 - 4:35PM
http://news.brisbanetimes.com.au/zinifex-ninemonth-production-slips-8/20075926-9nq.html
Zinc and lead miner Zinifex Ltd has posted an eight per cent drop in nine-month production from last year, but expects the zinc price to stay high for some time to come.
During the three months to March, production sank to 368,326 tonnes from 379,372 tonnes in the corresponding period of last year, while year-to-date production of 1.09 million tonnes was down from 1.18 million tonnes in the first nine months of 2006.
Zinifex blamed its lower production on planned maintenance shutdowns at its Century mine in north-west Queensland, Port Pirie in South Australia and Clarksville in the US during the first half, and the impact of predicted lower lead grades at Century on lead concentrate production.
But outgoing chief executive Greig Gailey gave investors some good news, providing an upbeat view on zinc prices.
"Zinc demand remains strong and zinc stocks remain low," Mr Gailey said.
"These factors are expected to continue supporting a zinc price that is well above long term average levels for some time to come."
Record zinc prices last year boosted the Australian metal producer's earnings enough to help it join the $1 billion club, with a net profit of $1.1 billion for fiscal 2006.
Despite zinc prices correcting somewhat during the March quarter after an exceptional run upwards in 2006, they were still 113 per cent higher than for the corresponding period of 2006 at around $US3,673 a tonne.
Mr Gailey said there had been concerns in January that Chinese production had increased to the point where it exceeded domestic demand.
"This was supported by an increase in exports of zinc from China during the period from November through to February," he said.
"However, while zinc production in China is growing, the exports over this period appear to have primarily been driven by a price arbitrage that opened up between domestic and LME zinc prices.
"This arbitrage has now closed."
Lead prices also corrected in January, but reached new record levels after supply disruptions and falling London Metal Exchange stocks, with prices approaching $US2,000 per tonne.
So far this fiscal year lead prices have averaged $US1,533 per tonne, a rise of 45 per cent on last year.
This week Zinifex and Belgian metals group Umicore confirmed they will go ahead with a proposed spin-off and listing of their combined smelter assets, which could be worth up to $4 billion.
To be named Nyrstar, the new company will be the world's biggest zinc metal company, producing about 1.2 million tonnes of zinc and zinc alloys a year, or about 10 per cent of the world market.
The move will turn Zinifex into a pure-play miner, rather than combined mining and smelting operation, which has led to it bolstering its exploration portfolio and launching a $384 million offer for Canada's Wolfen Resources.
Zinifex shares closed up 38 cents at $16.53 on Thursday.
March quarter zinc price slip no concern for Zinifex
http://www.mineweb.net/mineweb/view/mineweb/en/page36?oid=20127&sn=Detail
Zinifex, one of the world’s largest integrated zinc and lead companies, is not worried about the recent fall in zinc prices, pointing out they are still 113 percent higher than a year ago.
Author: Ross Louthean
Posted: Thursday , 26 Apr 2007
PERTH -
Outgoing chief executive of Zinifex Ltd (ASX: ZFX), Greg Gailey, said the March quarter zinc fall from an exceptional price run was not a ominous sign and that the metal should have support well above long-term average levels "for some time to come."
Gailey, who earlier this week surprised the market by announcing he would be leaving the company, said that despite the correction zinc prices have averaged $US3,673/tonne so far this fiscal year, 113% higher than the comparative 2006 period.
In Zinifex's March quarter report released today Gailey said that in January concerns arose that Chinese production had increased to the point where it exceeded domestic demand. This was supported by an increase in zinc exports from China from November through to February.
"However, while zinc production in China is growing, the exports over this period appear to have primarily been driven by a price arbitrage that opened up between domestic and LME zinc prices. This arbitrage has now closed," Gailey said.
He also said lead prices corrected in January but supply disruptions and falling LME stocks pushed lead prices to new record levels, approaching $US2,000/t. So far this year lead prices have averaged $US1,533/t, a rise of 45% on last year.
Gailey said the company's plan to separate its mining and smelting businesses and to merge its smelters with Umicore's zinc smelting operations - to create Nyrstar -- were well on track. This week a binding agreement was signed and Zinifex anticipated Nyrstar will be formed in September, with an initial public offering of shares to follow "as soon as market conditions permit."
Gailey reminded shareholders that to grow its mining business Zinifex had decided to acquire Canadian exploration and development company Wolfden Resources Inc. The offer of $C3.81/share had been issued to Wolfden's shareholders and their response will be known when the offer closes on May 8.
Australian Business journalists consider Gailey has done a remarkable job in taking over Zinifex from the funeral pyre of the poorly-run Pasminco Ltd which crashed to earth about six years ago with debts and toxic hedges that, in the reconstruction, left its shareholders with empty pockets.
When Pasminco hit a fiscal iceberg the administrators were forced into asset sales, particularly as zinc-silver-lead prices then were pretty flat. Among the assets sold were the Broken Hill mines to Perilya Ltd and the Elura mine (renamed Endeavour) to CBH Resources and, as a result, both these companies have reaped enormous operating profits and stepping stones for growth.
Despite their size Zinifex's Century mine in Queensland and Rosebery in Tasmania are maturing and that is why Australian analysts warmed to the takeover bid for Wolfden.
In the March quarter Century produced 122,602 of zinc in concentrates and 9,777t lead in concentrates with zinc 1% below December quarter and lead up 12% on December quarter. Silver by product from both concentrate streams totalled about 32,000 kilograms.
Rosebery produced 19,923t zinc in concentrates, 5,293t lead in concentrates and 389t copper in concentrates and included in these three production streams were 26,058 kg silver and 156 kg gold, while gold dore of 105 kg included 60 kg gold and 23 kg silver.
Zinifex continued to expand its global exploration and developed a new alliance to explore in China and took up additional ground in Tunisia and Mexico. The company had two licence applications granted in the historic Falun mine district of Sweden's Bergslagen region. This area had been controlled by Sweden's military and was only recently opened up for exploration.
In Australia, Zinifex plans too drill test some IP anomalies at the Menninnie Dam prospect in South Australia in May. This will test the extent of potential resources adjacent to the known Menninnie lodes. The company has also struck an agreement with junior company Trafford Resources to earn 75% by exploring its Witcherry Hill zinc-lead-silver prospect adjacent to Menninnie Dam.
Aquila Resources Inc.: Back Forty Mineral Resource Expands to 6.6 Million Tonnes Measured and Indicated and 1.75 Million Tonnes Inferred
Wednesday April 25, 1:00 am ET
http://biz.yahoo.com/ccn/070425/200704250386200001.html?.v=1
TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) - AQUILA RESOURCES INC. (TSX VENTURE:AQA - News; FRANKFURT:JM4A - News; "Aquila" or the "Company") today announced a new 43-101 compliant resource estimate for its Back Forty project in the Upper Peninsula of Michigan. The updated resource estimate contains 6.6 million tonnes in the measured and indicated category and 1.75 million tonnes in the inferred category, and more than doubles the previous inferred resource estimate of 3.1 million tonnes (DeMatties and Monroe August 2005).
The resource consists of massive sulfide, gossan, and stringer sulfide mineralization associated with the East Zone, Hinge and South Limb of the Main Zone, the Tuff Zone and Pinwheel Zone, but does not include mineralization associated with the Deep Zone, or gold mineralization associated with porphyry intrusion margins and the 90 Gold Zone.
--------------------------------------------------------------------------
Measured + Indicated(i) Resource Summary
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Au Ag
Zone Tonnes Zn(%) (g/t) (g/t) Cu(%) Pb(%)
--------------------------------------------------------------------------
Pinwheel Gossan 164,487 0.01 7.49 123.05 0.92 0.20
East Zone Gossan 67,816 0.01 21.79 8.49 0.03 0.03
Total Gossan 232,303 0.01 11.66 89.60 0.66 0.15
Main Zone Hinge and Main
Zone
South Limb Massive
Sulfide 4,094,671 6.58 1.83 18.59 0.25 0.16
Pinwheel Massive Sulfide 1,084,489 1.02 1.78 56.95 1.75 0.16
East Zone Massive Sulfide 957,451 5.64 2.75 17.51 0.40 0.07
Tuff Zone Massive Sulfide 269,381 7.00 1.44 57.25 0.06 1.74
Total Massive Sulfide 6,405,992 5.51 1.94 26.55 0.52 0.21
Total Measured and
Indicated 6,638,295 5.32 2.28 28.76 0.52 0.21
--------------------------------------------------------------------------
Inferred Resource(ii) Summary - Massive Sulfide, Gossan, and Stringer
--------------------------------------------------------------------------
Au Ag
Zone Tonnes Zn(%) (g/t) (g/t) Cu(%) Pb(%)
--------------------------------------------------------------------------
Pinwheel Gossan 4,820 0.01 26.34 103.30 0.23 0.11
East End Gossan 1,955 0.01 19.46 7.20 0.04 0.04
Total Gossan 6,775 0.01 24.35 75.57 0.18 0.09
Tuff Zone Massive Sulfide 585,600 6.62 1.89 63.01 0.06 1.74
Main Zone Hinge and Main
Zone 5,574 4.62 1.37 15.01 0.18 0.09
South Limb Massive
Sulfide
Pinwheel Massive Sulfide 0 0.00 0.00 0.00 0.00 0.00
East Zone Massive Sulfide 0 0.00 0.00 0.00 0.00 0.00
Total Massive Sulfide 591,174 6.60 1.89 62.56 0.06 1.72
Stringer Sulfides 1,156,123 0.58 3.17 16.74 0.19 0.09
Total Inferred 1,754,072 2.61 2.82 32.41 0.15 0.64
------------------------------------------------------------------
Category Zn (lbs) Au (oz) Ag (oz) Cu (lbs)
------------------------------------------------------------------
Measured + Indicated 778,832,573 486,457 6,138,022 76,174,327
Inferred 100,818,338 158,982 1,827,904 5,665,740
------------------------------------------------------------------
Farallon Announces Construction Management Appointments, M3 Engineering Engaged as EPCM Contractor for All Surface Facilities
Tuesday April 24, 2:56 pm ET
http://biz.yahoo.com/iw/070424/0243379.html
McIntosh Engineering and Farallon to jointly manage development of decline
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 24, 2007 -- Dick Whittington, President and CEO of Farallon Resources Ltd. (Toronto:FAN.TO - News) ("Farallon" or the "Company"), is pleased to announce that M3 Engineering & Construction, Inc. of Tucson, Arizona has been appointed Construction Manager for all of the surface facilities for a mine to be built at the Company's G-9 deposit, Campo Morado, Mexico. M3 will be primarily responsible for engineering, procurement and construction management (EPCM) for all processing and auxiliary surface facilities required to support a 1500 tonnes per day mine and mill at G-9. In addition to mill construction activities, and infrastructure work (power line, plant site, bulk earthworks etc.), M3 will also conduct the required EPCM for the mine surface buildings, with input from Farallon and McIntosh Engineering.
The Company recently received its primary mine permit or Manifestacion de Impacto Ambiental (MIA), required for full mine and mill construction and operation of its G-9 project at Campo Morado. The Company is also in the process of concluding the work required to facilitate the necessary approvals of the Cambio de Uso Suelo (CUS) for the project. This work will be completed shortly and, if approved by the Mexican Authorities, will authorize a change of land use to allow mining activities on the property. This approval is expected shortly.
Mine engineering and planning is being conducted by McIntosh Engineering of Tempe, Arizona. Farallon and McIntosh are jointly carrying out procurement and management of all underground activities, including the exploration decline currently in progress. To facilitate this change, Farallon has terminated its decline contract with Constructora Necaxa, S.A., and has installed its own underground development team to manage this important aspect of the project. Additionally, the Company has acquired the necessary equipment to drill, blast, muck, and support construction of the decline. A new twin boom jumbo drill will arrive on site shortly and a new 6 cubic yard scooptram is in the process of being secured.
Arturo Borja has been appointed Manager of Mining, Farallon Minera Mexicana and will be directly responsible for the decline and other workings that are required for underground drilling, bulk sampling and test mining to take place. The workings are designed so that they could ultimately facilitate mine production of 1500 tonnes per day. Mr. Borja has had several years of relevant underground experience initially with Penoles and Luismin in various capacities and, most recently, with Hecla at the San Sebastian and Don Sergio mines in Mexico and the La Comorra mine in Venezuela. He is supported by Farallon's geology and engineering staff. Underground crews have been hired and are in place. The decline is currently behind schedule but management anticipates that these changes will enable lost time to be made up without compromising the target date for mine operations of July 1, 2008.
Knight Piesold of Vancouver, B.C. is responsible for the engineering and design of the tailings storage facility and the water diversion/retention dam that is being planned to divert streamflows past the tailings facility, and to provide start-up water for the mill and adequate water supplies for all other surface and underground mine activities. Knight Piesold is also responsible for construction management of the tailings storage facility and the water retention dam; however, overall construction management will be provided by M3.
The Company has adopted a "parallel track" approach to the development of a mine at G-9. As a result, each of the major elements in the design and planning of a mine are being pursued simultaneously. For instance, at the same time resources are being added to the G-9 deposit and an underground decline is being driven to enable the Company to upgrade current inferred resources to indicated or measured categories, mill design, tailings design, equipment purchasing, power line applications etc. are also ongoing. This approach is designed to enable the Company to move toward its target production date of July 1, 2008.
Dick Whittington said: "M3 Engineering has extensive experience in Mexico of bringing projects of the size and scope of G-9 into production on time and on budget, having recently been involved in Frontera Copper's Piedras Verde mine and Pan American Silver's Alamo Dorado mine. McIntosh Engineering and Knight Piesold have both had a long association with Farallon and we welcome their continued involvement in the design, construction and management stage of the project. We are excited about putting our own mining team together and have commenced the process of staffing up our organization. This process will continue and intensify over the coming months as we continue towards our goal of becoming a zinc producer by mid 2008."
Investors are cautioned that G-9's resources are currently classified as inferred. Work is currently underway to upgrade the resources to indicated or measured categories. No representations of the economic viability of a mine at G-9 have been, or will be, made until such time as the inferred resources are upgraded, to enable the economic viability of a mine at G-9 to be established.
For further details on Farallon Resources Ltd. and its Campo Morado property and G-9 deposit, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially form those in the forward-looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com.
No regulatory authority has approved or disapproved the information contained in this news release.
Contact:
Contacts:
Farallon Resources Ltd.
Shawn Wallace
Investor Services
(604) 684-6365 or 1-800-667-2114
(604) 684-8092 (FAX)
Website: http://www.farallonresources.com
Source: Farallon Resources Ltd.
Farallon Receives Mine Permit for G-9 Deposit at Campo Morado
Monday April 23, 7:45 am ET
http://biz.yahoo.com/iw/070423/0242371.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 23, 2007 -- Dick Whittington, President and CEO of Farallon Resources Ltd. (Toronto:FAN.TO - News) ("Farallon" or "the Company"), is pleased to announce that the Company has received its primary mine permit or MIA (Manifestacion de Impacto Ambiental) required for full mine and mill construction and operation of its G-9 project at Campo Morado, Guerrero State, Mexico. Based on currently outlined preliminary mineral resources, the G-9 deposit has the potential to host a 1500 tonnes per day, high grade zinc operation with important by-product credits for copper, silver, gold and lead. Current inferred resources, if converted to indicated or measured categories, could represent approximately seven years of production. Recent exploration successes have expanded the high grade part of the resource base as well as opening up new exploration potential.
The approvals granted today include the primary project MIA. These approvals come with the requirement to comply with certain permit conditions on an ongoing basis. The Company is also in the process of concluding the work required to facilitate the necessary approvals of the CUS (Cambio de Uso Suelo) for the project. This work will be completed shortly and, if approved by the Mexican Authorities, will authorize a change of land use to allow mining activities on the property. Other necessary approvals for other key elements necessary to bring a mine into production, such as the high voltage transmission line MIA, are also in progress. In addition, agreements with local land owners and the municipality of Arcelia are in place that allow for construction of the mine access road and routing of the transmission line to the project.
Planning for construction has been under way for some time and site preparation and construction of some site facilities will now commence with contracts for engineering, procurement and construction management (EPCM) and site earthworks to be let in the next few days. The Company has been ordering long lead time mining and processing equipment, with firm prices and fixed delivery schedules, for some time (Farallon News Releases dated January 16, 2007 and March 22, 2007) and this will continue with another US$3.0 million of processing equipment is expected to be ordered this week.
Dick Whittington said: "This is a huge day for the Company. I would like to acknowledge all of our employees, consultants and advisors who have worked so hard to submit our permit application and prepare the site for the next stage in the Company's evolution. Farallon is now a "Production Capable" company. Exploration will continue but this is a threshold moment in the Company's history as we are no longer just an exploration company. With our high grade zinc starter zone (15% zinc and 2% copper), now looking like it has been extended by our recent exploration successes, we believe we have the makings of a mine at G-9. We continue to target July 1, 2008 as the date for starting production and this latest news keeps us on track."
Investors are cautioned that G-9's resources are currently classified as inferred. Work is currently underway to upgrade the resources to indicated or measured categories. No representations of economic viability have been, or will be, made until such time as these inferred resources are upgraded and their economic viability established.
For further details on Farallon Resources Ltd. and its Campo Morado property, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially form those in the forward-looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com.
No regulatory authority has approved or disapproved the information contained in this news release.
Contact:
Contacts:
Farallon Resources Ltd.
Shawn Wallace
Investor Services
(604) 684-6365 or within North America 1-800-667-2114
(604) 684-8092 (FAX)
Website: http://www.farallonresources.com
Source: Farallon Resources Ltd.
St. Eugene to commence drilling end of April on Moyie zinc/silver/lead property, B.C.
Mon Apr 23, 9:32 AM
http://ca.news.finance.yahoo.com/s/23042007/30/link-finance-news-st-eugene-commence-drilling-end-apr...
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S.
NEWSWIRE SERVICE/
TSX VENTURE SEM
VANCOUVER, April 23 /CNW/ - (TSX.V: SEM) Rolly Trenaman, President is pleased to report that a contract has been signed with SCS Diamond Drilling of Merritt, B.C. for a minimum of 4,000 metres of diamond drilling to be conducted on the Company's Moyie Project properties located 20 km south of Cranbrook, B.C. The drilling is slated to commence during the last week of April, 2007.
The Company identified six drill targets during the 2006 exploration field season. Two of these targets were drill tested and the following significant results were obtained:
Vent Target - Monroe Lake - four holes - 413 metres
Hole M06-01
-------------------------------------------------------------------------
Silver
Zone From - To Interval Zinc % Lead % (opt)
-------------------------------------------------------------------------
Zone 1 15.6 - 19.3 M 3.7 M (12.2 ft) 7.95 4.26 2.00
-------------------------------------------------------------------------
Zone 2 35.7 - 38.8 M 3.1 M (10.2 ft) 5.97 3.84 1.40
-------------------------------------------------------------------------
Zone 3 45.0 - 50.0 M 5.0 M (16.4 ft) 6.3 4.04 1.98
-------------------------------------------------------------------------
Society Girl Target - four holes - 945 metres
The individual samples results from Hole SG 06-02 were as follows:
-------------------------------------------------------------------------
From - To Interval Silver
Sample No. (Metres) (Metres) Zinc % Lead % (opt)
-------------------------------------------------------------------------
304394 181.20 - 181.45 0.25 4.01 0.31 0.1
-------------------------------------------------------------------------
304395 181.45 - 182.50 1.05 18.60 5.99 1.8
-------------------------------------------------------------------------
304396 182.50 - 182.70 0.20 1.20 0.61 0.2
-------------------------------------------------------------------------
Average 181.2 - 182.7 1.5 (5 ft) 13.8 4.3 1.4
-------------------------------------------------------------------------
Canadian Zinc Corporation-Underground Drilling at Prairie Creek Mine: Increasing Vein Widths and Additional Stratabound Located
Tuesday April 24, 6:00 am ET
http://biz.yahoo.com/iw/070424/0243021.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 24, 2007 -- Canadian Zinc Corporation (Toronto:CZN.TO - News)(OTC BB:CZICF.OB - News) is pleased to report drill assay results on the fourth completed section of underground diamond drill holes from the newly established decline tunnel at the Company's 100% owned Prairie Creek Mine in the Northwest Territories. Drilling has been on-going through the winter season and continues.
"We are at about the half way stage in this drilling program and the results to date are very encouraging", said Alan Taylor, Vice-President Exploration and Chief Operating Officer. "Twenty-four of the twenty-five holes drilled intersected vein mineralization. Included in the twenty-five drill holes are eight holes targeted on stratabound exploration which have all been successful at intercepting this style of mineralization." Previous news releases this year dated January 9, March 5 and March 22 reported results from the first three completed sections of drilling, Section 50600N, 50650N and 50700N, from the new underground decline.
Underground Diamond Drill Results from Section 50750N
Assay results have now been received for the ring of seven drill holes completed on Section 50750N. These holes were drilled from the 50750N underground drill station in the 870 level decline which was established during the 2006 exploration program at Prairie Creek.
All seven holes on Section 50750N intersected mineralization and two reported multiple intercepts.
V equals Vein, SB equals Stratabound, TT equals estimated true thickness
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Prairie Creek Composite Underground Drilling Intersections: Section 50750N
--------------------------------------------------------------------------
--------------------------------------------------------------------------
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Dip
From To Length TT (degrees Ag
Hole Number (m) (m) (m) (m) W) Pb% Zn% gm/t Cu% Type
--------------------------------------------------------------------------
PCU-07-019 94.30 97.09 2.79 2.49 15 26.59 25.92 490 1.201 V
--------------------------------------------------------------------------
PCU-07-020 94.31 95.59 1.79 1.78 0 0.38 4.65 9 0.040 V
--------------------------------------------------------------------------
PCU-07-021 98.35 105.09 6.74 5.85 -30 6.92 12.20 93 0.231 V
--------------------------------------------------------------------------
PCU-07-022 159.91 170.99 11.08 4.92 -53 15.44 19.75 282 0.755 V
--------------------------------------------------------------------------
PCU-07-023 229.26 232.76 3.50 2.02 -63 20.95 14.48 307 0.637 V
--------------------------------------------------------------------------
PCU-07-024 255.57 261.41 5.84 3.18 -67 8.28 1.71 92 0.118 V
--------------------------------------------------------------------------
" -024 261.41 266.88 5.47 4.73 -67 9.91 11.83 63 0.015 SB
--------------------------------------------------------------------------
PCU-07-025 267.60 269.20 1.60 1.44 -73 19.25 13.61 201 0.049 SB
--------------------------------------------------------------------------
" -025 286.21 290.90 4.69 4.21 -73 4.39 5.41 34 0.007 SB
--------------------------------------------------------------------------
" -025 293.73 295.76 2.03 1.82 -73 3.01 9.13 34 0.005 SB
--------------------------------------------------------------------------
" -025 296.20 298.40 2.20 0.74 -73 4.11 0.46 50 0.075 V
--------------------------------------------------------------------------
" -025 301.90 305.95 4.05 3.64 -73 5.35 13.79 56 0.014 SB
--------------------------------------------------------------------------
Manicouagan reports continued encouraging drill results from its Brabant Lake zinc deposit - 9.55 metres of 7.40% Zn and 6.36 metres of 132.89 grams per tonne silver
Tuesday April 24, 7:55 am ET
http://biz.yahoo.com/cnw/070424/manicouagan_zinc_resu.html?.v=1
TORONTO, April 24 /CNW/ - Manicouagan Minerals Inc. (TSXV - MAM) announced today additional encouraging assay results from the drilling program currently underway on the Brabant Lake zinc deposit. Results have been received for drill holes BR-07-12A, BR-07-13, BR-07-14 and BR-07-15 and are presented in the table below.
(x) Upper Zone (UZ), Lower Zone (LZ) and Footwall Zone (FWZ)
-------------------------------------------------------------------------
Hole Zone From To Length(xx) Zn(%) Cu(%) Pb(%) Ag Au
ID ID(x) (m) (g/t) (g/t)
-------------------------------------------------------------------------
12A UZ 224.63 227.21 2.58 7.40 1.13 0.05 25.87 0.07
-------------------------------------------------------------------------
LZ 236.70 246.25 9.55 7.40 0.60 0.07 20.06 0.17
-------------------------------------------------------------------------
-------------------------------------------------------------------------
13 UZ 247.40 258.30 4.51 3.48 1.16 0.46 51.90 0.73
-------------------------------------------------------------------------
LZ 296.27 306.24 9.97 4.05 0.80 0.79 43.14 0.10
-------------------------------------------------------------------------
FWZ 306.96 313.32 6.36 2.50 0.51 2.81 132.89 1.11
-------------------------------------------------------------------------
-------------------------------------------------------------------------
14 UZ 300.51 302.25 1.74 8.51 0.31 0.11 26.95 0.12
-------------------------------------------------------------------------
LZ 338.98 342.12 3.04 10.91 1.87 0.06 63.31 0.12
-------------------------------------------------------------------------
-------------------------------------------------------------------------
15 UZ 197.27 205.86 8.59 7.12 0.65 0.04 17.77 0.01
-------------------------------------------------------------------------
LZ 211.54 218.23 6.59 3.25 1.79 0.00 38.60 0.12
-------------------------------------------------------------------------
LZ 223.88 224.99 0.54 24.43 0.13 0.00 5.2 0.14
-------------------------------------------------------------------------
LZ 229.65 231.65 2.00 5.49 0.53 0.12 27.32 0.00
-------------------------------------------------------------------------
President's Letter to Metalline Mining Company Shareholders
Monday April 23, 10:48 am ET
http://ca.us.biz.yahoo.com/prnews/070423/lam052.html?.v=84
COEUR D'ALENE, Idaho, April 23 /PRNewswire-FirstCall/ -- On March 6, 2007, Metalline (Amex: MMG - News) completed a private offering of 2,413,571 shares of the Company's common stock, $0.01 par value per share, and warrants to purchase 1,206,785 shares of common stock, exercisable at $2.42 per share and expiring on March 6, 2011. The Purchased Securities were purchased at a price of $4.70 per Unit, which consists of two shares of common stock and one warrant, for aggregate gross proceeds of $5,671,892.60 pursuant to the Common Stock and Warrant Purchase Agreement with the purchasers. There were no commissions paid in connection with the Offering. The Purchased Securities were sold to accredited investors pursuant to Section 4(2) and Regulation D under the Securities Act of 1933.
The proceeds of the offering are expected to be used for general corporate purposes, including working capital and to initiate an aggressive exploration program on the polymetallic (copper, silver, zinc, lead) mineral system at the Sierra Mojada project located in Coahuila, Mexico.
A revised resource model has been completed by Reserva International, and has gone through an external technical review. After a report on the work is complete, this work will be ready for review by SRK, the technical auditors for the feasibility study.
A scoping study on mining methods has been performed by Pincock, Allen and Holt of Lakewood, Colorado. The result of the study is that either underground or open pit mining of the rocks is feasible. The choice between the methods will be made on the basis of geotechnical studies. The purpose of these studies is to determine how well the rocks in the area will stand under the stresses expected during mining.
Agapito Associates, Inc. of Golden, Colorado has been contracted to perform the required geotechnical work. The necessary equipment for geotechnical drilling has been acquired and the geotechnical drilling is scheduled to begin on 23 April. Additional geotechnical data will be acquired by laboratory and in situ measurements of rock strength, and through on site mapping and sampling as well as from analysis of geologic mapping and drilling already completed by Metalline on the Iron Oxide Manto mineralized material.
Mr. Ken Hart has been contracted to synthesize the geologic data, acquired by Metalline on the Iron Oxide Manto, to compile the geological report that is a requisite for a bankable feasibility study and to provide the geologic framework to constrain the resource model and to support the mine plan.
Ken was the Project Geologist for Reunion Ltd during the evaluation drilling and the feasibility study of the Skorpion deposit. He continued in this role as a contractor for Anglo American after they reacquired the property. Skorpion is operated by Skorpion Zinc, an Anglo Base Metals company, and produces about 150,000 tonnes of SHG zinc annually at an operating cost of about $660 per tonne, $0.30 per pound. Zinc is currently $3600 per tonne; Skorpion has to be one of the most profitable mines in the world and is the low cost producer of SHG zinc.
Water development continues with completion, casing the hole and installing a pump, and pump testing of the water well holes drilled to date. Results of these tests will be released soon, as the pump testing is nearing completion.
Other continuing Feasibility Study activities ongoing are: Metallurgical studies on potential by-product metals (silver, germanium, indium, etc.), refinery site location investigation and environmental studies continue.
Polymetallic mineralization (silver, copper, zinc, lead) north of the Sierra Mojada fault occurs over an area of 6 km east-west and 1 km north- south. This mineralization occurs on the dumps of over 45 shafts that all produced high grade direct shipping silver ore and in the host rocks surrounding the high grade underground stopes in these mines.
A drill program to explore the polymetallic mineralization, north of the Sierra Mojada fault is being implemented. The program will involve additional underground diamond drills, a larger diamond drill dedicated to surface drilling and a reverse circulation rotary drill dedicated to drilling and casing the alluvial material preparatory to the surface diamond drilling. If open pit mining of the zinc oxide mantos is selected, this program will also evaluate material that would be extracted during stripping of the underlying zinc oxides.
Sincerely
Merlin Bingham
President
Forward-Looking Statements
This news release contains forward-looking statements regarding future events and Metalline's future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Metalline operates and the beliefs and assumptions of Metalline's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," "will," variations of such words, and similar expressions are intended to identify such forward-looking statements.
Source: Metalline Mining Company
Argentex drill results include highest zinc-lead-indium intervals encountered to date at Pinguino, Argentina
Monday April 23, 9:00 am ET
Drilling hits 12.30 meters of 11% lead-zinc and 188 g/t indium
http://biz.yahoo.com/prnews/070423/to408.html?.v=17
TORONTO, April 23 /PRNewswire-FirstCall/ - Argentex Mining Corporation (OTCBB: AGXM - News) is pleased to report results for the final 19 of 30 HQ diamond drill holes from the recently completed 3,000-meter (9,842-foot) drill program at its polymetallic Pinguino property in Santa Cruz province, Argentina. Results include some of the highest zinc-lead-indium values recorded from drilling at Pinguino to date. In addition, findings continue to reveal high-grade intervals of zinc, lead, indium, silver, copper and gold values surrounded by large intervals of disseminated mineralization in near-surface drill intersections. The drill program tested selected areas of the Marta Centro and Yvonne zones.
"The latest holes at Marta Centro show an increase in base metal grade and thickness as we test deeper levels of the mineralized zone, while the latest holes at Yvonne returned higher gold and copper values than earlier drilling," said Ken Hicks, President of Argentex. "At the Marta Centro zone, we have now tested a total of approximately 500 meters of strike length to a depth of 100 meters and at Yvonne we have tested approximately 120 meters of strike length to a depth of 80 meters. We believe the success of this latest drill campaign is a significant step in advancing the Pinguino property."
Highlights of the results from the 19 holes include hole 82 at Marta Centro, which intersected 12.30 meters of 188 grams per tonne (g/t) indium, 11% lead-zinc and 101 g/t silver, and hole 86, which hit 14.70 meters of 117 g/t indium and 9% lead-zinc. Gold-silver vein mineralization was intersected at the northern limit of drill-testing at Marta Centro, including hole 90 with 1.81 meters of 14.90 g/t gold and 100 g/t silver and hole 79 with 2.09 meters of 239 g/t silver and 0.77 g/t gold. At the Yvonne zone, hole 96 returned 6.65 meters of 2.38 g/t gold, 54 g/t silver and 0.64% copper. Mineralization at Pinguino remains open along strike and at depth.
"Marta Centro and Yvonne were originally targeted for drilling based upon their anomalous geophysical signatures and corresponding soil anomalies. Our extensive geophysical and geochemical coverage on the Pinguino property has discovered other areas with similar continuous geophysical characteristics covering more than 5,000 meters (16,404 feet). To date, drill testing has proven successful in turning Marta Centro and Yvonne anomalies into drill-defined mineralization. We look forward to expanding our drill testing to new areas in the near future," added Mr. Hicks.
Details of the analytical results for these 19 holes (12 from Marta Centro and seven from Yvonne), in sequence from north to south for the interval from 50 meters (164 feet) to 100 meters (328 feet) deep, are highlighted in the following table:
Table 1
-------------------------------------------------------------------------
(x) (x) Ind- Sil-
Hole From To Width Width ium Gold ver Copper Lead Zinc
ID m m m ft g/t g/t g/t % % %
-------------------------------------------------------------------------
Area: Marta Centro
-------------------------------------------------------------------------
Testing 50 - 75 m depth below surface (primary sulphides intersected)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P90 38.91 90.72 51.81 169.98 7 0.62 1 0.03 0.24 0.75
-------------------------------------------------------------------------
Including 62.30 76.70 14.40 47.24 25 2.06 32 0.09 0.36 1.96
-------------------------------------------------------------------------
Including 68.94 70.75 1.81 5.94 108 14.90 100 0.72 1.19 7.74
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P79 39.03 92.20 53.17 174.44 4 0.10 22 0.04 0.21 0.21
-------------------------------------------------------------------------
Including 53.25 71.20 17.95 58.89 8 0.21 48 0.10 0.41 0.30
-------------------------------------------------------------------------
Including 57.57 59.66 2.09 6.86 14 0.77 239 0.52 0.78 0.63
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P80 40.00 91.00 51.00 167.32 13 0.14 13 0.01 0.20 0.90
-------------------------------------------------------------------------
Including 64.20 72.80 8.60 28.21 64 0.56 53 0.02 0.81 4.36
-------------------------------------------------------------------------
Including 67.60 70.00 2.40 7.87 127 1.17 85 0.04 1.39 11.29
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P81 46.07 108.00 61.93 203.18 31 0.14 25 0.01 0.66 2.22
-------------------------------------------------------------------------
Including 55.07 70.00 14.93 48.98 105 0.41 78 0.02 2.03 6.91
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P82 48.23 134.90 86.67 284.41 33 0.14 26 0.01 0.63 2.24
-------------------------------------------------------------------------
Including 59.10 71.40 12.30 40.35 188 0.58 101 0.07 1.95 9.37
-------------------------------------------------------------------------
Including 65.00 65.69 0.69 2.26 1081 1.88 159 0.22 2.66 34.57
-------------------------------------------------------------------------
less
than
And 99.20 117.92 18.72 61.42 15 0.12 29 0.01 0.98 1.34
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P83 50.00 88.80 38.80 127.30 27 0.13 28 0.01 0.64 2.35
-------------------------------------------------------------------------
Including 50.00 72.80 22.80 74.80 45 0.20 44 0.02 0.99 3.71
-------------------------------------------------------------------------
Including 60.60 70.80 10.20 33.46 91 0.33 78 0.03 1.70 6.92
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P88 47.37 93.17 45.80 150.26 9 0.09 13 0.01 0.20 1.07
-------------------------------------------------------------------------
Including 53.37 67.15 13.78 45.21 26 0.24 36 0.02 0.52 2.92
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Area: Marta Centro
-------------------------------------------------------------------------
Testing 75 - 100 m depth below surface (primary sulphides intersected)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P84 78.00 108.00 30.00 98.42 14 0.20 18 0.01 0.29 1.56
-------------------------------------------------------------------------
less
than
Including 84.70 108.00 23.00 75.46 17 0.23 21 0.01 0.34 1.91
-------------------------------------------------------------------------
Including 84.70 96.00 11.30 37.07 33 0.45 38 0.02 0.54 3.51
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P85 63.76 145.10 81.34 266.86 9 0.09 14 0.01 0.36 1.07
-------------------------------------------------------------------------
Including 76.87 91.10 14.23 46.69 45 0.29 52 0.02 1.41 4.14
-------------------------------------------------------------------------
Including 86.60 88.98 2.38 7.81 185 0.70 201 0.06 6.76 16.14
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P86 60.10 167.00 106.90 350.72 20 0.11 15 0.01 0.37 1.54
-------------------------------------------------------------------------
less
than
Including 70.75 141.00 70.25 230.48 30 0.16 21 0.01 0.51 2.23
-------------------------------------------------------------------------
Including 82.40 97.10 14.70 48.23 117 0.42 73 0.03 1.72 7.22
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P87 68.00 182.80 114.80 376.47 9 0.08 18 0.01 0.45 1.34
-------------------------------------------------------------------------
Including 74.00 100.00 26.00 85.30 25 0.20 61 0.02 1.47 3.18
-------------------------------------------------------------------------
Including 86.50 98.00 11.50 37.73 54 0.38 130 0.04 3.08 6.17
-------------------------------------------------------------------------
-------------------------------------------------------------------------
less
than
P89 61.75 106.29 44.54 146.13 8 0.08 12 0.01 0.27 1.20
-------------------------------------------------------------------------
Including 74.75 87.67 12.92 42.39 17 0.17 24 0.02 0.48 2.52
-------------------------------------------------------------------------
Details of the seven holes drilled at the Yvonne zone are highlighted in the following table:
Table 2
-------------------------------------------------------------------------
(x) (x) Ind- Sil-
Hole From To Width Width ium Gold ver Copper Lead Zinc
ID m m m ft g/t g/t g/t % % %
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Area: Yvonne (depth of oxidation approximately 30 meters)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P102 52.56 85.72 33.16 108.79 13 0.39 11 0.07 0.09 0.75
-------------------------------------------------------------------------
Including 52.56 57.40 4.84 15.88 71 1.98 61 0.44 0.21 2.16
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P95 35.37 36.37 1.00 3.28 107 8.00 95 1.00 0.34 0.51
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P108 44.98 84.17 39.19 128.57 11 0.53 9 0.06 0.06 0.56
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P107 47.70 97.10 49.40 162.07 9 0.28 5 0.02 0.07 0.62
-------------------------------------------------------------------------
Including 71.90 97.10 25.20 82.68 12 0.48 7 0.03 0.05 0.69
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P96 19.50 53.76 34.26 112.40 5 0.51 14 0.15 0.13 0.24
-------------------------------------------------------------------------
Or 28.5 35.15 6.65 21.82 15 2.38 54 0.64 0.11 0.03
-------------------------------------------------------------------------
And 35.15 52.76 17.56 57.61 2 0.05 4 0.04 0.08 0.44
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P98 17.75 27.46 9.71 31.86 11 0.34 6 0.03 0.05 0.05
-------------------------------------------------------------------------
Including 17.75 18.46 0.71 2.33 48 2.37 35 0.39 0.05 0.41
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P97 27.25 47.30 20.05 65.78 11 0.36 10 0.04 0.18 0.41
-------------------------------------------------------------------------
Including 27.25 30.37 3.12 10.24 17 1.44 31 0.02 0.38 0.04
-------------------------------------------------------------------------
And 39.33 39.83 0.50 1.64 81 2.30 96 1.02 0.34 2.87
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(x) Estimated true widths are approximately 90% of the drilled
interval.
Abbreviations and conversion equivalents:
-----------------------------------------
1 ppm = 1 g/t (gram per metric tonne)
1 troy ounce per short ton = 34.2857 grams per metric
tonne = 34.2857 ppm
1 % = 22 lbs per metric tonne; ie 1 % Zinc =
22 lbs Zn metal per metric tonne
1 m (meter) = 3.2808 ft (feet)
China March zinc concentrate imports sharply higher; Zinc exports up
Source: Hoovers
China's zinc concentrate imports in March more than tripled on year to 155, 635 metric tons, the General Administration of Customs said Monday.
In January-March, zinc concentrate imports were at 364,335 metric tons, up 148.9% compared to 1Q '06.
China's unwrought zinc exports in March almost quadrupled on year to 33,624 metric tons.
Unwrought zinc exports in January-March rose 399.2% to 152,916 metric tons
Table of Imports:
Countries Mar Change Jan-Mar Change
of Origin in Tons on Year in Tons on Year
Zinc Concentrate
Total 155,635 +227.9% 364,335 +148.9%
North Korea 46,569 +5,442.3% 96,412 +3,851.4%
Mongolia 12,955 +60.7% 35,905 +60.1%
Australia 41,094 +194.1% 93,965 +113.0%
Peru 18,236 N.A. 19,647 N.A.
Iran 10,532 +158.7% 27,292 +106.3%
Unwrought Zinc
Total 5,697 -63.3% 27,139 -62.0%
Unwrought Zinc Alloy
Total 14,366 -26.9% 36,108 -38.0%
Table of Exports:
Countries Mar Change Jan-Mar Change
of Origin in Tons on Year in Tons on Year
Unwrought Zinc
Total 33,624 +380.3% 152,916 +399.2%
Hong Kong 5,978 +234.3% 14,272 +101.2%
Malaysia 3,744 N.A. 10,366 N.A.
South Korea 2,175 +40.2% 6,887 +37.9%
Taiwan 4,733 +606.9% 13,336 +126.8%
Singapore 8,157 N.A. 28,634 +2,921.5%
Unwrought Zinc Alloy
Total 244 -91.3% 592 -91.2%
(All figures in metric tons)
Aquila Resources to list on TSX
2007-04-23 01:39 ET - News Release
Mr. Thomas Quigley reports
AQUILA TO LIST ON TORONTO STOCK EXCHANGE
Aquila Resources Inc. has received conditional approval to list on the Toronto Stock Exchange. The key condition to listing is the filing of an updated National Instrument 43-101 report on SEDAR. The TSX is one of the world's leading stock exchanges for international and domestic mining and mining exploration companies.
Aquila plans to announce the results of a mineral resource estimate in the near future, and thereafter will post a National Instrument 43-101 technical report on Sedar. The report will include the results of drilling completed by Aquila in 2006 and incorporate mineralization contained on a key property acquired in the project area.
Thomas O. Quigley, president and chief executive officer of Aquila, stated: "Aquila is pleased to progress to the Toronto Stock Exchange. We feel the Back Forty project is one of North America's leading polymetallic base metal exploration projects and we are planning to accelerate our drilling and evaluation of the project in 2007."
We seek Safe Harbor.
Messina Minerals ("MMI") Intersects Boomerang: 6.8 Meters of 18.0% Zinc, 4.4% Lead, 0.9% Copper, 118 g/t Silver, 1.3 g/t Gold
Friday April 20, 9:05 am ET
http://biz.yahoo.com/ccn/070420/200704200385413001.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2007) - Messina Minerals Inc. (TSX VENTURE:MMI - News) has completed four new holes at the Boomerang zinc-lead-copper-gold-silver massive sulphide deposit that all continue to indicate excellent continuity of thickness and high base metal enrichment. One hole, GA07-228, has intersected a 14.03 meter (8.9m true thickness) interval of 11.3% zinc, 3.4% lead, 0.5% copper, 91 g/t silver, and 0.6 g/t gold, which is approximately twice the true thickness of adjacent holes with comparable grades. Three of four holes intersected massive sulphides with grades and thicknesses comparable with adjacent intersections. The drilling tested approximately a 60 meter vertical by 100 meter horizontal 'gap' in the drill spacing within the deeper, eastern part of Boomerang. Assay results are tabulated below.
---------------------------------------------------------------------------
True
Elev Len- Thick-
Sect- (m From To gth ness Cu Pb Zn Ag Au
Hole ID ion RL) (m) (m) (m) (m) % % % g/t g/t
---------------------------------------------------------------------------
Surface 1405
---------------------------------------------------------------------------
GA07-222 3295E 1100 317.87 339.55 21.68 14.4 0.5 2.6 9.2 78 0.8
including 329.35 339.55 10.20 6.8 0.9 4.4 18.0 118 1.3
---------------------------------------------------------------------------
GA07-224 3310E 1075 346.55 353.25 6.70 4.3 0.6 3.7 14.8 99 0.9
---------------------------------------------------------------------------
GA07-228 3275E 1075 336.70 350.73 14.03 8.9 0.5 3.4 11.3 91 0.6
---------------------------------------------------------------------------
GA07-231 3240E 1090 313.35 329.40 16.05 12.2 0.3 2.1 3.9 60 0.5
including 325.15 329.40 4.25 3.2 0.8 5.4 11.5 149 1.3
---------------------------------------------------------------------------
Metalline Mining Company Announces Additions to Mineral Concession Holdings
Thursday April 19, 1:52 pm ET
http://www.investorshub.com/boards/read_msg.asp?message_id=18942620
2-month chart:
Globe says get your portfolio in tune with Blue Note
2007-04-18 05:07 MT - In the News
The Globe and Mail reports in its Wednesday, April 18, edition that Mavrix Small Cap Fund manager Roger Dent sees plenty of opportunities for making money investing in the microcap section of the market. The Globe's Angela Barnes writes in the Best Bets column that Mr. Dent says good microcap picks are not difficult to find. Mr. Dent recommends investors play Montreal-based Blue Note Mining. The company is in the final stages of restarting a mine in New Brunswick that has been out of production since the mid-1990s. Mr. Dent says it should be producing zinc in about three months. The move from non-producer to producer should cause a change in the way the market looks at the company and attract more analyst coverage, says Mr. Dent. "Blue Note is one of the more interesting metal stories in Canada over the course of the next three to six months," says Mr. Dent. Blue Note shares finished Tuesday at 43.5 cents on the TSX Venture Exchange. The stock has a 52-week trading range of 52 cents to 25 cents. Mr. Dent's portfolio currently has limited exposure to the energy industry. He says, "We will look at the energy space more actively as we move into the 2007-2008 heating season."
Rockcliff Resources Inc.: Drilling Intersects More High Grade Zinc-Silver Mineralization
Thursday April 19, 8:51 am ET
http://biz.yahoo.com/ccn/070419/200704190385151001.html?.v=1
SUDBURY, ONTARIO--(CCNMatthews - April 19, 2007) - Rockcliff Resources Inc. (TSX VENTURE:RCR - News) is pleased to announce that surface drill holes continue to intersect high metal values at the Zinc Zone. Rockcliff's Zinc Zone is associated within its 100% owned Shihan VMS Property located in central Ontario.
Highlights of drill hole intersections from the Zinc Zone are tabulated below, including:
- 4.35 metres grading 8.09% zinc, 2.29 % lead and 17.50opt silver including 1.75 metres grading 19.31% zinc, 5.62% lead and 25.50 opt silver
- 2.50 metres grading 5.24% zinc, 0.66% lead and 34.76opt silver including 1.70 metres grading 5.47% zinc, 0.86% lead and 49.17 opt silver.
- 2.50 metres grading 7.38% zinc, 0.72% lead and 4.53 opt silver including 0.50 metres grading 29.72% zinc, 2.75% lead and 7.55 opt silver
- 2.95 metres grading 4.95% zinc, 0.61% lead and 2.90 opt silver including 0.80 metres grading 17.08% zinc, 2.13% lead and 7.80 opt silver
Highlights of significant Rockcliff drill hole assay results are tabulated below. The lengths reported are drill intersected core lengths and do not represent true widths.
---------------------------------------------------------------------------
Borehole From (m) To (m) Length Zn % Ag g/t (opt) Pb % Au ppb Zone
(m) (opt)
---------------------------------------------------------------------------
RS07-11 33.65 36.55 2.90 4.08 108 (3.15) 0.41 69 Zinc
---------------------------------------------------------------------------
includes 35.00 36.25 1.25 8.06 217 (6.34) 0.90 107 Zinc
---------------------------------------------------------------------------
RS07-12 44.75 49.10 4.35 8.09 600 (17.50) 2.29 890 Zinc
---------------------------------------------------------------------------
includes 47.35 49.10 1.75 19.31 874 (25.50) 5.62 569 Zinc
---------------------------------------------------------------------------
RS07-13 114.5 120.90 6.40 3.96 80 (2.34) 0.65 46 Zinc
---------------------------------------------------------------------------
includes 115.7 117.10 1.40 9.47 208 (6.07) 0.90 122 Zinc
---------------------------------------------------------------------------
includes 119.8 120.90 1.10 8.57 77 (2.25) 2.18 39 Zinc
---------------------------------------------------------------------------
RS07-14 41.9 44.40 2.5 7.38 155 (4.53) 0.72 430 Zinc
---------------------------------------------------------------------------
includes 43.9 44.40 0.50 29.72 259 (7.55) 2.75 277 Zinc
---------------------------------------------------------------------------
RS07-15 58 60.95 2.95 4.95 99(2.90) 0.61 149 Zinc
---------------------------------------------------------------------------
includes 60.15 60.95 0.80 17.08 268 (7.80) 2.13 231 Zinc
---------------------------------------------------------------------------
RS07-16 44.85 46.00 1.15 11.24 104 (3.04) 1.00 353 Zinc
---------------------------------------------------------------------------
RS07-17 53.6 56.1 2.5 5.24 1192 (34.76) 0.66 3522 Zinc
(0.10)
---------------------------------------------------------------------------
includes 54.4 56.1 1.7 5.47 1686 (49.17) 0.86 4851 Zinc
---------------------------------------------------------------------------
(0.14)
El Nino Outlook for 2007 - 2008 Work Program and Report on the Bathurst Mining Camp First Year Results
Thursday April 19, 1:09 pm ET
http://ca.us.biz.yahoo.com/cnw/070419/el_nino_outlook.html?.v=1
TSX.V: ELN OTCBB: ELNOF FF: E7Q
VANCOUVER, April 19 /CNW/ - El Nino Ventures Inc. ("El Nino") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) is pleased to announce that the province of New Brunswick has committed funding for the second and last year of the exploration program of the option period which has started on April 1st, 2007, and will terminate on March 31st, 2008. The program will consist of ground geophysical surveys (Titan 24), a review of the airborne Mega TEM data, soil geochemical surveys followed-up by a diamond drilling program. At this stage, it is proposed to survey five main target areas with the Titan 24 ground geophysical survey system totaling approximately 135 line km. A diamond drilling program testing the Titan 24 targets as well as a series of various types of targets will consist of approximately 25,000 meters in 50 diamond drill holes. Field work is scheduled to resume in June 2007 with line cutting, ground geophysics and diamond drilling.
Update on the Bathurst First Year Work Program with Xstrata Zinc Canada
El Nino is also pleased to announce that drill hole ELN-07-129, comprised in the 2006-2007 Bathurst drilling program with Xstrata Zinc Canada, has intersected a horizon of massive to semi-massive sulphide mineralization interpreted to represent the up-dip, near surface, extension of the Gilmour South mineralized trend. The sulphide zone was intersected between 163.70 and 166.60 meters down hole with combined assay results grading 3.39% Zn, 2.86% Pb, 0.15% Cu and 8.36 g/t Ag over 2.80 meters including an intercept of 1.10 meters at 6.63% Zn, 5.65% Pb, 0.29% Cu and 16.10 g/t Ag.
The Gilmour mineralized trend was originally discovered in 1977. The southern extension of this trend, Gilmour South, was discovered in 1995 and subsequently drilled on a 200 meter spaced drill pattern, by Noranda Exploration between 1995 and 2000. The mineralized trend consists of intermittent massive to semi-massive sulphide mineralization of varying grades and thickness ranging from 18.20% Zn and 11.20% Pb over 0.22 meters to 1.10% Zn over 23.70 meters. The zone is untested from surface down to the 200 meter mark below surface and along most of the 1400 meter strike length extension. The mineralized trend occurs along the Brunswick Horizon in a geological setting similar to the Brunswick No.12 and No.6 deposits.
The first year of the Bathurst Option agreement, which was signed on May 26th, 2006, was terminated on March 31st, 2007, with a total budget expenditure of $5.0M CDN. The program was funded 50% ($2.5M) by El Nino Ventures and 50% ($2.5M) by Xstrata Zinc Canada, through a Grant Program with the New Brunswick Government. Under the term of this agreement, El Nino will spend $5.0M CDN over a two year period to vest a 50% interest in the Xstrata Zinc Canada Bathurst properties.
Work Highlights
<<
- A total of 220 line km of Titan 24 ground geophysical survey was
completed
- An Heli-GeoTEM survey was completed over 3 grids totaling 291 line km
- Several soil geochemical surveys were performed collecting 1,097
samples
- Up to five drill rigs were in operation during the diamond drilling
program
- 42 diamond drill holes were completed for 17,082 meters
- 30 diamond drill holes were surveyed with the borehole EM system
- 341 new claims were staked
>>
The Bathurst Option Agreement exploration program completed during the first year period has returned encouraging results that are summarized below:
Result Highlights
<<
- Camel Back Area: Hole ELN-06-095 drilled west of the Camel Back
Deposit returned 2.2 meters at 4.93% Zn and 0.71% Pb including
1.3 meter at 7.48% Zn and 1.02% Pb from a 7.20 meter massive sulphide
intercept (Sept. 13, 2006)
- Mount Fronsac North Deposit: The drilling along the Titan 24 anomaly
located at a vertical depth of 300 meters and up dip from high grade
historical intersections returned the following significant assay
results (Nov. 17, 2006):
-------------------------------------------------------------------------
DDH From (m) To (m) Width (m) Zn % Pb % Ag g/t
-------------------------------------------------------------------------
ELN-06-097 306.85 309.85 3.0 5.68 1.93 39.0
-------------------------------------------------------------------------
ELN-06-101 269.9 272.9 3.0 5.04 0.28 11.4
-------------------------------------------------------------------------
ELN-06-100 322.1 327 4.9 1.15 0.22 5.4
-------------------------------------------------------------------------
China's Zinc and Lead Output to Rise 15% in 2007
By David Harman
18 Apr 2007 at 09:09 AM GMT-04:00
http://www.resourceinvestor.com/pebble.asp?relid=30972
SHANGHAI (Interfax-China) -- China will produce 3.15 million tonnes of refined lead and 3.6 million tonnes of refined zinc in 2007, up roughly 15% respectively from the previous year, a senior industry official said yesterday.
The prediction was made by Zhou Guobao, director of the China Nonferrous Metals Industry Association Zinc and Lead Branch at the 3rd China Non-Ferrous Metals Industry Chain Development Forum held yesterday in Beijing, cited by the state-run media China Nonferrous Metals News.
Zhou also forecasted an apparent consumption of refined zinc 3.7 million tonnes in 2007, up 10% year-on-year; while lead consumption is expected to climb 10% to 2.5 million tonnes this year.
According to his prediction, lead concentrate and zinc concentrate production are anticipated to grow 18% to 1.59 million tonnes and 3.40 million tonnes respectively in 2007.
Zhou attributed strong lead and zinc production growth this year mainly to a continous growth on domestic consumption, lead & zinc mines' output hike, a comparatively stable domestic market from luanch of zinc futures trade, increase on zinc prices under restricting policies for smelting capacity and exports.
Increased domestic demand in 2006 pushed up lead and zinc prices and stirred an increase in investment and output in the zinc and lead sectors.
Last year, lead output reached 2.74 million tonnes, up 15% from the previous year and zinc output reached 3.15 million tonnes, up 16% from 2005.
Jia Yinsong, a senior official with the National Development and Reform Commission (NDRC), stressed in the same conference that the state would upgrade the zinc and lead sector through a number of means, such as raising industry requirements, strengthening supervision and administration by regularly publishing a list of qualified zinc and lead manufacturers, enhancing controls on land, loans, environment protection and safety.
In order to maintain a demand and supply balance in the zinc and lead sector, Chian is making efforts to control redundant investment in lead and zinc smelting sectors.
By 2010, after the elimination of out-dated capacity, domestic refined lead capacity is set to be reduced to 4 million tonnes and zinc capacity to approximately 5 million tonnes. Recycling zinc and lead will be encouraged with an aim to increasing the consumption of recycled resources to 30% of total annual consumption.
The NDRD also said that China aims to produce 193 million tonnes of oil and 92 billion cubic metres of natural gas by 2010.
Zinc Futures ended up on the Shanghai Futures Exchange on Wednesday amid speculative buying, in line with overnight gains on LME. The most traded July delivery gained RMB 1290 ($167.02), closing on Wednesday at RMB 33,590 ($4,348.90).
"Zinc futures will fall sooner or later, considering the sufficient supply in the domestic physical market," analyst Lu said. He added that spot prices were RMB 2,000 ($258.94) lower than futures prices.
There is a market concern that China will cancel the export tax rebate on 0#zinc ingots, grade ≥99.995 percent this year, which might further weigh on zinc future prices, according to some analysts.
Commentary
Phasing out of smaller smelters and secondary producers, coupled with a proposed 35% liquid asset requirement, if enforced, will further consolidation.
However, domestic demand is growing at a faster rate than output and will continue to bring upward pressure on prices. For example; zinc output is expected to reach 3.60 million tonnes, yet estimated consumption is 3.75 million tonnes.
Higher international prices, with lead hitting record levels and zinc enjoying a strong bull run, might encourage exports but 1) this can only be achieved through export of finished products; 2). China has taken strong measures to curb such exports in recent months.
© Interfax-China 2007.
This article comes from Interfax China Commodities Daily, a daily digest produced by Interfax News Agency in Mainland China. To receive 10 free copies of this, please e-mail david.harman@interfax-news.com.
Niblack expands to Niblack project; adds Ruby Tuesday
2007-04-18 14:37 ET - News Release
Mr. Paddy Nicol reports
CLAIM HOLDINGS ON NIBLACK PROPERTY EXPANDED AND NEW PROPERTY ACQUIRED
Niblack Mining Corp. has staked additional ground at the Niblack volcanogenic massive sulphide property (VMS) property in southeast Alaska, and has also staked the nearby Ruby Tuesday property. Staking both sets of claims has been completed with the intent to secure highly prospective ground around the Niblack core group of claims and to achieve a strategic focus on VMS targets in southeast Alaska.
New Niblack property expansion
The company has staked 45 additional federal lode mining claims surrounding the core Niblack claim block. The purpose of the staking is to secure prospective ground to the north and east of the Niblack property where mapping and geochemistry suggest that fault offset extensions of the Niblack mineralized horizon lie. Ground on the northern shore of the Niblack Anchorage also offers relatively flat terrain that is suitable for potential future infrastructure development, and an access route to deeper waters.
Ruby Tuesday VMS volcanic massive sulphide property
The Ruby Tuesday VMS property consists of 120 claims totalling 2,300 acres. The property shares similar geology and mineralization style to the Niblack property, located 17 kilometres to the southeast. Previous work includes 13 drill holes (3,200 metres), with all but one of the holes intersecting significant mineralization. Highlights are:
4.2 feet (1.3 metres) grading 11.60 per cent zinc and 16.45 grams per tonne (g/t) gold;
140.1 feet (42.45 metres) grading 3.09 per cent zinc;
3.0 feet (0.9 metre) grading 3.5 per cent zinc and 2.62 per cent copper;
9.0 feet (2.72 metres) grading 8.25 per cent zinc; and
21.0 feet (6.4 metres) grading 2.62 per cent zinc, including 4.6 feet (1.4 metres) grading 10.18 per cent zinc, 1.20 per cent copper and 0.24 per cent lead.
The property includes two major zinc-copper-gold-silver showings that are separated by a distance of over 1,000 metres. Several smaller showings, located along strike and between the two main showings, are associated with a quartz-crystal rhyolite unit and define a central axis to the property. The target at Ruby Tuesday is a 10-thousand-tonne-to-20-thousand-tonne precious-metal-rich copper-zinc massive sulphide deposit.
In addition to drilling, work by various operators from 1977 to 1996 has included geological mapping, soil sampling, and both airborne and ground geophysical surveys. Review of these data has identified several drill-ready targets. Of most obvious potential is a large (600 metres by 150 metres) induced polarization (IP) anomaly that is coincident with a strong multielement soil anomaly and airborne EM (electromagnetic) conductors. Grab samples in this area have assayed up to 16.1 per cent zinc, 1.74 per cent copper, 9.48 per cent lead, 2.5 g/t gold and 76 g/t silver. The target remains largely untested, with two holes having tested only the easternmost edge of the IP anomaly. Both holes returned long intercepts (in excess of 200 feet) of disseminated and stringer sulphide mineralization, including 42.45 metres grading 3.09 per cent zinc in drill hole RT-9.
Exploration plans for 2007 include reconnaissance fieldwork including mapping and prospecting to further advance drill targets.
Millstream Mines assays 14.18% Zn over 0.55 m at Potter
2007-04-17 12:52 ET - News Release
Mr. Robert Chase reports
MILLSTREAM INTERSECTS 5.03% COPPER AND 14.18% ZINC WITHIN A 10.13 METRE MASSIVE SULPHIDE CORE INTERVAL
Millstream Mines Ltd. has received significant assay results from its fifth diamond drill hole, S-07-04, at its Potter VMS property's 2006 to 2007 exploration program. The results from the first two intersected separate massive sulphide (MASU) mineralized zones (see news in Stockwatch on March 27, 2007) are as displayed in the "S-07-04 assay results" table.
S-07-04 ASSAY RESULTS
Hole No. From To Core length Cu Zn Co Ag
(metres) (metres) (%) (%) (%) (oz/t)
S-07-04
First interval 628.20 637.35 9.15 1.50 1.44 0.059 0.49
Including 632.00 637.35 5.35 2.07 2.43 0.073 0.67
Second interval 674.45 684.60 10.15 2.65 2.89 0.099 0.69
Including 674.45 683.60 9.15 2.93 3.20 0.109 0.76
Including 674.45 675.00 0.55 0.37 14.18 0.038 0.32
Including 675.00 675.50 0.50 5.03 1.47 0.058 1.21
Gold assays not included; all assays obtained from Swastika Labs, Ontario
Hole No. From To Core length Cu Zn Co Ag
(metres) (metres) (%) (%) (%) (oz/t)
S-98-05
First interval 420.12 423.75 3.63 2.69 0.29 0.079 0.49
Second interval 507.40 519.70 12.3 1.53 2.05 0.131 0.42
Including 513.0 519.70 6.70 2.14 2.47 0.174 0.58
Including 515.0 519.70 4.70 2.54 3.38 0.168 0.70
Including 516.0 519.70 3.70 2.75 3.74 0.165 0.73
Gold assays not included; all assays obtained from Swastika Labs, Ontario
HIGHLIGHTS FROM OTHER RECENT DRILLING ACTIVITY
Hole No. From To Core length Cu Zn Co Ag
(metres) (metres) (%) (%) (%) (oz/T)
S-07-02
First interval 478.05 485.5 7.45 3.34 2.34 0.092 1.02
Including 478.05 483.05 5.00 4.82 3.43 0.191 1.46
478.05 478.75 0.70 15.10 2.54 0.165 4.61
479.60 480.0 0.40 1.15 14.70 0.047 0.71
Second interval 503.20 505.5 2.30 1.18 0.91 0.046 0.38
S-07-01
First interval 477.75 505.0 27.25 1.68 2.39 0.011 0.73
including 486.15 505.0 18.85 2.40 3.28 0.039 1.02
495.80 505.0 9.20 3.68 5.03 0.052 1.51
495.80 502.3 6.50 3.70 6.13 0.050 1.46
Second interval 527.60 530.1 2.50 1.45 3.29 0.054 0.36
S-06-01
First interval passed through open mined stope, hit a section of the sill (floor)
388.00 389.2 1.20 4.67 2.41 0.149 0.87
Second interval 439.90 466.1 26.20 1.57 1.22 0.047 0.47
including 448.65 466.1 17.45 2.09 1.64 0.049 0.57
453.50 466.1 12.60 2.26 1.94 0.046 0.61
459.80 466.1 6.30 2.57 3.07 0.053 0.66
Gold assays not included; all assays obtained from Swastika Labs, Ontario
Zinc market in surplus in first two months of 2007 - report
Wednesday, April 18, 2007 1:51:29 PM
http://www.afxpress.com
LONDON (Thomson Financial) - World demand for zinc grew in the first two months of the year, but so did global production of the metal, leaving the market in a surplus of 84,000 tonnes, said the World Bureau of Metal Statistics
The independent research body said demand grew by an annual 23,000 tonnes in January through to February to 1.748 mln tonnes, while production increased by 171,000 tonnes to 1.832 mln tonnes
Turning to stocks, the WBMS said while reported stocks were some 27,000 tonnes higher at the end of February, the proportion of total stocks held in LME warehouses has declined steadily since end 2005
At 2.29 pm, LME zinc for three-month delivery was down at 3,720 usd a tonne against 3,720 usd at the close yesterday
Vena Resources Finds New Targets in Azulcocha West-Zinc Project
Wednesday April 18, 5:12 pm ET
http://biz.yahoo.com/ccn/070418/200704180385055001.html?.v=1
TORONTO, ONTARIO--(CCNMatthews - April 18, 2007) - Vena Resources Inc. (TSX VENTURE:VEM - News; OTCBB:VNARF - News; LIMA:VEM - News; FRANKFURT:V1R - News) announces that the first results of an extensive geophysical program conducted by ARCE Geophysics in the Azulcocha West project (6 kilometers west of the historical Azulcocha Zinc mine) including 12.4 square kilometers of magnetometry and induced polarization have returned positive results. Two large targets (first degree anomalies) have been identified as shown on the following page. http://www.ccnmatthews.com/docs/venaimage.pdf
The first target along the Cochas - Gran Bretana fault line is approximately 3,500 meters by 500 meters in size where the Waie, Triunfo and Cantagallo areas are located and is open to the south. The prospects Waie and Triunfo were previously drill tested by the Japanese operators two decades ago and significant polymetallic intersects were found as previously reported. The second target to the north-west is approximately 2,000 meters by 900 meters in size in the Jesus Maria and San Pablo prospects. These two prospects have never been drill tested.
An extensive Induced Polarization program to be conducted this April/May will be focused on these two large targets leading to a 40 hole - 8,000 meter drill campaign scheduled to commence in June of this year, as well as 500 meters in underground workings.
These encouraging results are part of the Joint exploration agreement Vena signed last year with Glencore of Switzerland who is funding the work plan for the next two years.
Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
The TSX Venture Exchange does not accept the responsibility for the adequacy or accuracy of this release.
Contact:
Juan Vegarra
Vena Resources Inc.
Chairman & CEO
(416) 364-7739, ext. 120
Email: jvegarra@venaresources.com
Website: www.venaresources.com
Tracy Weslosky or Fred Cowans
Pro-Edge Consultants Inc.
Managing Partners
1-866-544-9622 or (416) 581-0177
Email: info@pro-edge.com
Source: Vena Resources Inc.
Redcorp Ventures Ltd.: EP+CM Contracts Awarded for Tulsequah Project
Wednesday April 18, 9:00 am ET
http://biz.yahoo.com/iw/070418/0240494.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 18, 2007 -- REDCORP VENTURES LTD. (Toronto:RDV.TO - News) and its wholly-owned subsidiary, Redfern Resources Ltd. (together the Company), are pleased to announce the selection and award of EPCM contracts for the construction of the Tulsequah Project (the Project).
Engineering and Procurement (EP) services will be provided by Wardrop Engineering Inc. (Wardrop), who prepared our February 2007 Feasibility Study. This award demonstrates the Company's satisfaction with the quality of work Wardrop performed for the feasibility study and our confidence that they can deliver a high quality final product. The work will be performed in Wardrop's Vancouver and Saskatoon offices under the direction of Jeremy Breker, Project Manager. The Project will be largely staffed with the same project team that worked on the feasibility study, providing continuity to facilitate rapid development.
Construction Management (CM) will be performed by Merit Consultants International Inc. (Merit) of Vancouver. Merit brings a wealth of experience in managing construction projects for the mining industry. Merit is an internationally experienced consultant with current projects in British Columbia, NWT, Ontario, China, Turkey and the United States. Merit has been responsible for the development of mineral projects worldwide since 1983 and is currently involved in feasibility studies in Ecuador, Peru, Nicaragua, Guatemala as well as Canada and the United States. Joe Rokosh has been named as Merit's Project Manager.
The immediate activities for the EPCM team include:
- Preparing a detailed construction schedule
- Assembling tender packages for key contracts and long lead-time orders
- Commencing detailed design engineering
- Establishing the site infrastructure
Redcorp is also in the process of expanding its management team to direct the EPCM efforts. Announcements regarding each hiring will be made at an appropriate time.
Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca or by calling toll-free to Troy Winsor, Manager of Investor Relations, at 1-888-225-9662.
ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.
Terence Chandler, President
Certain of the statements made and information contained herein is "forward- looking information" within the meaning of the Securities Act (Ontario) and the Securities Act (Alberta). Forward-looking information includes disclosure regarding possible or anticipated events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action and includes future oriented financial information with respect to prospective results of operations or financial position that is presented either as a forecast or a projection. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or "might" occur or be achieved; and, other similar expressions.
More specifically, forward-looking information contained herein includes, without limitation, statements concerning the Company's plans at its Tulsequah Project (inclusive of the Big Bull Project), the net present value of the Tulsequah Project, the timing and amount of estimated future production and mine life, expected future prices of gold, silver, copper, lead and zinc, metallurgical response and net smelter return valuations, mineral reserve and mineral resource estimates, estimated capital and operating costs of the project, estimated capital pay back period, timing of development and permitting time lines; all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Forward-looking information contained herein is based on material factors and assumptions and is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from a conclusion, forecast or projection in the forward-looking information. These include, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the availability of financing for activities when required and on acceptable terms, the accuracy of the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the consistency of future exploration, development or mining results with the Company's expectations, metal price fluctuations, the achievement and maintenance of planned production rates, the accuracy of component costs of capital and operating cost estimates, current and future environmental and regulatory requirements, favourable governmental relations, the availability of permits and the timeliness of the permitting process, the availability of shipping services, the availability of specialized vehicles and similar equipment, costs of remediation and mitigation, maintenance of title to the Company's mineral properties, industrial accidents, equipment breakdowns, contractor's costs, remote site transportation costs, materials costs for remediation, labour disputes,
the potential for delays in exploration or development activities, timely completion of future NI 43-101 compliant reports, timely completion of future feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, continuing global demand for base metals, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors Relating to the Company's Business in the Company's Annual Information Form, dated March 28, 2006, and in each subsequent Management's Discussion and Analysis. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
News Release 07-13
Contact:
Contacts:
Redcorp Ventures Ltd.
Troy Winsor
Manager of Investor Relations
1-888-225-9662
Website: http://www.redcorp-ventures.com
Source: Redcorp Ventures Ltd.
Argentex expands zinc-lead-indium discovery at Pinguino
Monday April 16, 9:00 am ET
Results from first 11 of 30 holes reveal 5.85 meters of 207 g/t indium, 201 g/t silver and 12% lead-zinc
http://biz.yahoo.com/prnews/070416/to236.html?.v=46
TORONTO, April 16 /PRNewswire-FirstCall/ - Argentex Mining Corporation (OTCBB: AGXM - News) is pleased to report results for 11 of 30 holes from the recently completed drill program at its polymetallic Pinguino property in Santa Cruz province, Argentina. Characterized by wide intervals of strong zinc, lead, indium, silver, copper and gold values in the Marta Centro zone, the results show the definition and expansion of near-surface mineralization from the 2006 discovery holes.
"We are pleased by the success of our exploration methodology and the base-metal and precious-metal results that have been returned to date. Our exploration approach of using IP geophysics, surface mapping and anomalous soil geochemistry to define drill targets has proven to be very effective at Pinguino," said Ken Hicks, President of Argentex. "As well, we have only tested a small portion of the property's known high-priority drill targets, which are defined by an extensive geophysical anomaly."
To date, strong, continuous linear chargeability geophysical anomalies covering more than 5,000 meters (16,404 feet) have been discovered on the property. Including this latest drill program, Argentex has tested an aggregate of approximately 500 meters (1,640 feet) of the 700-meter (2,297-foot) Marta Centro strike length to a depth of 100 meters (328 feet). Results include 5.85 meters (19 feet) of approximately 207 grams per tonne (g/t) indium, 1 g/t gold, 201 g/t silver, 0.3% copper and 12% lead-zinc in hole 74. Mineralization remains open along strike and at depth. Drilling also encountered a number of "blind" low-sulphide silver-gold veins during testing of these high-sulphide targets, with hole 73 returning 2.6 meters (8.5 feet) of 5.52 g/t gold and 704 g/t silver.
Details of the analytical results for 11 holes, in sequence from north to south for the interval from surface to 50 meters (164 feet) deep, are highlighted in the following table:
Table 1
-------------------------------------------------------------------------
Hole_ID (x) (x) Ind- Sil-
From To Width Width ium Gold ver Copper Lead Zinc
m m m ft g/t g/t g/t % % %
-------------------------------------------------------------------------
Area: Marta Centro (depth of oxidation approximately 40 meters)
-------------------------------------------------------------------------
Testing 0 - 50 m depth below surface (within oxidized zone)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P71 21.70 43.70 22.00 72.18 3 0.29 43 0.01 0.21 0.08
-------------------------------------------------------------------------
(less
than)
Including 21.70 25.50 3.80 12.47 7 0.88 157 0.01 0.70 0.02
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P72 13.20 37.03 23.83 78.18 1 0.42 19 0.01 0.46 0.02
-------------------------------------------------------------------------
(less
than)
13.20 25.90 12.70 41.67 2 0.60 18 0.01 0.54 0.03
-------------------------------------------------------------------------
(less (less
than) than)
17.20 21.20 4.00 13.12 1 1.25 10 0.01 0.03 0.02
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P73 33.85 57.00 23.15 75.95 9 0.71 93 0.01 0.46 0.26
-------------------------------------------------------------------------
Including 34.90 37.50 2.60 8.53 27 5.52 704 0.01 1.28 0.06
-------------------------------------------------------------------------
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Area: Marta Centro
-------------------------------------------------------------------------
Testing 0 - 50 m depth below surface (primary sulphides intersected)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P74 40.76 85.40 44.64 146.45 33 0.18 31 0.04 0.70 1.25
-------------------------------------------------------------------------
40.76 59.40 18.64 61.15 78 0.39 69 0.10 1.48 2.67
-------------------------------------------------------------------------
44.65 50.50 5.85 19.19 207 1.05 201 0.32 4.34 8.18
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P75 43.25 94.85 51.60 169.29 33 0.14 23 0.03 0.83 2.37
-------------------------------------------------------------------------
Including 43.25 64.00 20.75 68.08 46 0.22 38 0.06 1.59 3.72
-------------------------------------------------------------------------
Including 46.90 56.14 9.24 30.31 59 0.29 45 0.02 1.83 5.64
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P76 35.70 54.05 18.35 60.20 66 0.33 59 0.02 0.86 3.76
-------------------------------------------------------------------------
48.00 51.30 3.30 10.83 158 0.81 113 0.05 2.52 9.98
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P77 33.75 78.70 44.95 147.47 15 0.10 14 0.01 0.24 1.26
-------------------------------------------------------------------------
(less
than)
Including 33.75 50.25 16.50 54.13 30 0.23 29 0.01 0.39 2.34
-------------------------------------------------------------------------
-------------------------------------------------------------------------
P78 29.50 49.00 19.50 63.98 30 0.17 25 0.01 0.48 2.70
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P91 52.85 69.46 16.61 54.40 10 0.06 5 0.01 0.09 1.03
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P92 44.53 55.03 10.50 34.45 2 0.01 3 0.01 0.11 0.62
-------------------------------------------------------------------------
-------------------------------------------------------------------------
(less
than)
P93 44.20 65.80 21.60 70.87 3 0.07 16 0.01 0.43 1.37
-------------------------------------------------------------------------
53.67 60.80 7.13 23.39 9 0.17 43 0.02 1.10 3.56
-------------------------------------------------------------------------
59.40 60.80 1.40 4.59 43 0.61 191 0.07 4.67 14.48
-------------------------------------------------------------------------
Pacifica Resources Commences Winter Mobilization In Advance Of Drilling Activities
Wednesday April 11, 9:02 am ET
http://biz.yahoo.com/cnw/070411/pacifica_selwyn_proj.html?.v=1
Trading Symbol: PAX.TSX-V
VANCOUVER, April 11 /CNW/ - Pacifica Resources Ltd. (PAX.TSX-V) is pleased to update shareholders on the start of the 2007 program for the Selwyn Project, Yukon. Mobilization of heavy-equipment, bulk material and supplies for the proposed $25 million exploration program has commenced.
Winter Mobilization
To reduce logistical costs for the mobilization of heavy-equipment and bulk supplies to the Selwyn Project, Pacifica is utilizing the airstrip at the Cantung Mine operated by North American Tungsten Corporation, as it is the closest point to the Selwyn Project with direct highway access. This large-scale mobilization of heavy-equipment and bulk supplies greatly reduces the start up time of the existing XY and newly established New Anniv camp to mid-April 2007. Both 40-person exploration camps are scheduled to be fully active by late-May 2007.
To accomplish the large-scale mobilization from the Cantung airstrip, a large-lift, Mi-26 helicopter from Airborne Energy Solutions Ltd. of Whitecourt, Alberta was contracted to move heavy-equipment and bulk supplies. The large-scale mobilization began on April 6, 2007 with the Mi-26 helicopter and given its unique lifting capabilities, the Mi-26 has now completed its work. The remainder of the material and supplies will be flown to site by fixed-wing aircraft and helicopters from Alkan Air Ltd., and Heli Dynamics Ltd. respectively, both of Whitehorse, Yukon. The mobilization will continue for approximately one month barring weather conditions.
Coincident with the start of diamond drilling activities, the newly acquired heavy-equipment will recommence construction on the new airstrip for the New Anniv exploration camp and initiate rehabilitation of the extensive exploration trail infrastructure established by prior operators throughout the Don Valley. As soon as snow-pack conditions become more favourable through late-April to early-May, additional drill rigs will resume drilling at the XY Central deposit, continuing both deep drilling of the high-grade underground mineral resource and definition drilling of open-pit resources.
2007 Exploration Program
Drilling activities are slated to commence in mid-April 2007 with two diamond drill rigs in Don Valley. Initial follow-up of the high-grade mineralization intersected in the Don, Don East and HC West Zones will begin by drilling several sections across the valley that coincides with the interpreted core of the regional synclinal structure.
The approved $25 million exploration program in 2007 will include more than 40,000 metres of core drilling, environmental baseline and site engineering studies. The diamond drilling activities will be focused on infill and definition drilling throughout the 22-kilometre corridor of zinc-lead mineralization that includes three major zinc-lead deposits, XY, Anniv Central, and Anniv East, as well as five newly discovered deposits Brodel, HC, HC West, Don East, and Don that are amenable to open-pit mining. The 2007 drilling will provide for further upgrading of mineral resource classification of the recently released, updated NI 43-101 mineral resource for these deposits consisting of Indicated mineral resources of 158% to 86,600,000 tonnes, grading 4.93% zinc and 1.73% lead and an Inferred mineral resources of 91% to 215,460,000 tonnes, grading 4.71% zinc and 1.48% lead (see April 2, 2007 news release). The updated mineral resource estimate for the Selwyn Project was prepared by John J. O'Donnell, the onsite Qualified Person for Pacifica in conjunction with, and under audit by, Independent Qualified Person under NI 43-101, Cliff Pearson of Pearson Geological Ltd. of Victoria, BC.
The newly discovered high-grade underground targets at XY and in Don Valley appear to indicate a transition to higher grades in the core of the synclinal structure hosting the various deposits, signalling the potential for significant tonnages of higher grade mineralization over the more than 15 kilometres separating these two zones.
Mr. Jason Dunning (P.Geo.), the Qualified Person pursuant to National Instrument 43-101, has reviewed and approved the contents of this press release.
Pacifica's main focus is the exploration of its properties in the Selwyn Project area, Yukon that are part of the Selwyn Project; which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production of zinc and lead, at a time when World zinc mine supply is in deficit and there are few new mines under development.
This press release contains forward-looking statements concerning the mineralization at and the potential of the Selwyn Project. These forward-looking statements are based upon the reasonable beliefs of Pacifica and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Pacifica. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Pacifica may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Pacifica does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
For further information
Dr. Harlan Meade, President and CEO
Jasmin TamDoo, Manager of Investor Communications, Telephone: (604) 682-5474, Toll-free: 1-877-682-5474, International Toll-free: (800) 8682-5474, Facsimile: (604) 682-5404, info@pacifica-resources.com, www.pacifica-resources.com
Source: Pacifica Resources Ltd.
>>>i guess my mind was in a haze<<<
How could it not be.... after posting almost 100 times throughout the day.
Unfortunately, you really don't say much with all that effort.
Oops sorry about that..........I know...............i guess my mind was in a haze
This is zinc board - KNP is nickel/copper - no zinc at all.
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