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have had an order in for 400k, so far only 200k fill at .001.
(MARKET WIRE) -- 05/23/08 -- Syndication Inc. (OTCBB: SYDI) reported income of $2,299,993 in its first quarter 2008 financials. The company states that the gain on income is the result of a change in the fair market valuation of its Debt Derivative and Warrant Liabilities. The change also positively effected the first quarter 2008 Balance Sheet by reducing the company's debt as it related to the Derivative and Warrant liability, from $3,484,249 as reported at year end 2007 to $758,084 for the three months ended March 31st, 2008, a net reduction in the Debt Derivative and Warrant Liability of $2,726,165 for the Quarter.
The CEO of the Company has been invited and has granted an internet audio interview with WallSt.net, http://tv.wallst.net/3-min-press/3-min-press.php, that will be broadcast on Friday evening the 23rd of May 2008, at which time he is expected to address these issues and the company's future plans.
For information on Spinal Decompression and Disc Centers of America go to: www.spinaldecompression-md.com/
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
volume today 220,000 shares traded
Whats up, no volume
(MARKET WIRE) -- 05/22/08 -- PAIVIS, CORP. ("PAIVIS") (PINKSHEETS: PAVC) today notifies its shareholders that it continues its effort to expedite its deliverables required pursuant to the merger agreement with TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (OTCBB: TCHH).
The Company has completed some key items and is now planning to reorganize part of its team to increase the effort in the short term.
Edwin Kwong, the Interim Chief Executive Officer of PAIVIS, commented: "For the ultimate benefit of our shareholders we are going to implement a plan to reorganize part of our team to put more emphasis on expediting what has to be done for the Merger Agreement with Trustcash. We believe this plan will aid in producing results at an increased pace. We will continue to keep our shareholders informed."
About Paivis, Corp.
Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7-Eleven, and Chevron.
About Trustcash
Through its Trustcash brand and website www.trustcash.com, the Company is a pioneer of anonymous payment systems for the internet. It developed a business based on the sale of a stored value card that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the "Trustcash(TM)" payment card, which is sold in denominations ranging from $10 to $200 online through any of over 500 websites. Trustcash's non-reloadable, virtual Trustcash card is the only "stored value card" that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. TRUSTCASH and PAIVIS intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause TRUSTCASH and PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in TRUSTCASH and PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov.
--------------------------------------------------------------------------------Contacts:
Paivis, Corp.
Phone: 404-601-2885
www.paivis.com
Source: Paivis, Corp.
how would price decline get them shares at these levels?
What's with the multiple 300 share trades?
MARKET WIRE) -- 05/20/08 -- Pilgrim Petroleum Corporation (PINKSHEETS: PGPM) (FRANKFURT: PHV) is pleased to announce that the company's Assessment on its interests in Archer and Wichita Counties Texas, prepared by Gustavson Associates, can be found at http://www.bpetroleum.com. The report has an effective date of September 15, 2006, and evaluates Pilgrim Petroleum acreage located on the Bend Arch-Fort Worth Basin Province, Texas.
The report was prepared using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and in accordance with National Instrument 51-101 ("NI 51-101"). Additionally, Gustavson Associates conducted a scoping economic analysis of the Prospect using the "Best Estimate" for both an oil and gas future net revenues (before deductions of income taxes).
Specifically, the report provides the following highlights:
Low Estimate 996 MBbl 3.98 BCF
Best Estimate 1,832 MBbl 7.32 BCF
High Estimate 2,676 MBbl 10.70 BCF
ECONOMIC EVALUATION
Pilgrim also requested Gustavson Associates to complete economic runs with the estimated prospective resources and similar production profiles. This study will show estimate development schedules for Pilgrim's acreage and generate a forecast of future net revenues and discounted cash flow.
The following estimates are based on the best estimate of the prospective hydrocarbon resources. The initial net prices, for the purpose of the analysis are: $59.95 per barrel for the oil case and $4.97 per MCF for the gas case and include deductions for estimated future well abandonment costs.
Best Estimate Net Best Estimate Net Present
Revenue Before Income Tax Value of Future Net Revenues
(at 10% discount rate)
$102,370,000 $52,050,000
Pilgrim Petroleum President and CEO Rafael Pinedo said, "Pilgrim has strategically waited to develop its asset portfolio together with its venture partners to fully take advantage of its lease position. The projected figure is just an estimation based on previous Geologic studies of the area together with conservative oil price range. With Triple digit oil prices and current market conditions, a great level of profitability undermines the risk associated to oil and gas exploration/drilling. As we approach second quarter, we will communicate more on Drilling Plans for this year. We are very excited about the opportunities we have ahead."
The report is available for review on the Company's website.
About Pilgrim Petroleum Corporation
Headquartered in Dallas, Texas, Pilgrim Petroleum Corporation is a publicly traded company (PINKSHEETS: PGPM) (FRANKFURT: PHV). The company is acquiring oil and gas leases, producing properties, mineral rights and surface interest's primary on marginal fields. Once acquired, the company intends to develop each property to maximize the income from each by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward looking statements.
2008 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
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--------------------------------------------------------------------------------CONTACT:
Pilgrim Petroleum Corporation
Eddie Monet
619-864-0166
www.apetroleum.com
Source: Pilgrim Petroleum Corporation--------------------------------------------------------------------------------
Public Companies Associated with this story:
(OTC: PGPM) (PHV)
Vianna, thank-you for the email post. INCOURAGING.
To Funny insureman, well worded.
Google video link on Phantom Shares, Very Good.
http://video.google.com/videoplay?docid=4490541725797746038
Here is a long but good read about NS
http://www.deepcapture.com/
Chevy56 did you see this youtube link
SEC Inspector General to Audit Naked Short Selling Investigations
Posted May 08, 2008 3:15PM PST
The Office of the Inspector General of the Securities and Exchange Commission is going forward with an audit of how the commission has investigated allegations of naked short selling, according to a person familiar with the situation.
The audit, which is starting this week, will look into the process the SEC's Division of Enforcement uses in responding to naked short selling complaints and referrals.
Investor advocates have argued that naked short selling, where short sellers don't borrow or deliver the stock that they've sold, has been damaging to small cap companies.
The inspector general's office, which conducts internal investigations of the SEC, will be coordinating with the Government Accountability Office. GAO officials said in April that they would conduct their own probe of the SEC's response to the issue of stock-delivery failures. The GAO investigates government agencies on behalf of Congress.
Main web site works again
stockster5 here is a youtube video link of chairman cox discussing nss. Is that authoritative enough for you
Naked Short Selling, a real problem on the pinks, according to the sec.
Misinformation! This is from jan 06. Different fortress financial, this one did not exist until may 07! Get your facts straight ok.
I was in FMNJ a few years back, on a run from .002 to .08. it actually hit .15.
I will say is .03
Penny range IMO
When this moves it will be Fast IMO
No, most of that 59 bil is restricted. The 2000 to 1 rs was when the OS was 640 + Bil. It went that high after the Unitrust Capital SA Group merger in may 07. We still have no info on that deal, maybe soon.
WOW look at SSGI on the bid 500000000
(MARKET WIRE) -- 05/06/08 -- Fortress Financial Group, Inc. (PINKSHEETS: FFGO) is in a position to confirm that the Company is completing the acquisitions as previously announced but advises stockholders that the amount and the size of these acquisitions is now considerably larger than ever envisaged by the Company's Management.
The completion of these acquisitions and the exchange of the Company's holdings in the "Bouse" and "South Copperstone" Gold Projects for stock in a USA quoted Gold Mining Company will have a very material impact upon the Company's Net Asset Value per Share.
The completion of all of these acquisitions will create a very substantial Company in the Consumer Finance Industry with an extremely strong cash flow and very considerable earnings.
Stockholders will be advised upon the completion of these acquisitions.
About Fortress Financial Group, Inc.
Fortress Financial Group, Inc. is primarily engaged in the issuing and marketing of prepaid debit card and related payment solution activities. It acquired Moneyworx, Inc., a reseller of MasterCard prepaid USA Domestic and International Prepaid Debit Cards. Fortress Financial Group, Inc. will be launching its own label "Fortress" International Debit Card in the second quarter of 2008.
Upon the closure of the Trinity Mercantile Finance and the Mortgage Bank acquisitions, Fortress Financial Group, Inc. will expediting its plans to become a broadly based Consumer Finance Group. The "Mortgage Division" will comprise the vast majority of the Group's earnings in the medium term.
The Company is utilizing is substantial Balance Sheet of circa US$1billion comprised of quoted and unquoted Gold Mining & Exploration stocks to aggressively fund a large number of acquisitions in the consumer financial services sector initially focused on the Mortgage Lending sector.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
--------------------------------------------------------------------------------Contact:
Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer
Email Contact
Tel: (954) 840-6961
Source: Fortress Financial Group, Inc.
Yes i did, wonder what is going on.
This link still works.
http://www.fortressbanking.biz/main.html
Click on the web site link in the ibox. Something is going on.
It looks like there is new information on the fortress web site main page.
http://www.fortresscards.com/main.html
02 May 2008, 12:19 PM EDT Msg. 714631 of 714631
(Msg. is a reply to by None.)
Harold Reinholdt, founder of a high risk hedge fund operation based out of the Cayman Islands, was arrested this morning and is awaiting arraignment at the Grand Court of the Cayman Islands. Some of you may remember the alias naked-short-alliance or NSA, that was Harold Reinholdt.
http://ragingbull.quote.com/mboard/search.cgi?for=naked-short-alliance&where=m
Harold Reinholdt is one of many aliases used to conduct illicit trading of OTC and Pink Sheet securities which were bought on margin and sold without covering the margin call. All hedge fund bank accounts have been seized, early indications are that the hedge fund holds in excess of 600,000,000 euros. We have found records showing the fund was heavily involved in the trading of CMKM Diamonds securities
May 02, 2008 (BUSINESS WIRE) -- Hunt Gold Corporation (PINKSHEETS: HGLC.PK) confirms that it will be concentrating its exploration efforts in the immediate term on its "Mockingbird" Gold property.
It is intended that the Company have "Mockingbird" restored as an operating and producing gold mine in 2008.
The previous exploration work on this property has proven that these further exploration plans will yield significant results very rapidly; which will lead to production of gold on this property. "Mockingbird" is an historic gold producer and Management and their consulting Geologists are in possession of a huge amount of data in respect of this property.
The Company is not expecting to raise any cash to fund the development of "Mockingbird" and does not expect to issue any additional shares as a placing for cash. It is intended to utilize bank borrowing facilities, which are being negotiated at this time.
The Chairman of the Company's Advisory Committee, Professor Wayne P Colliston, is continuing with his re-assessment of the "Mockingbird" property. Professor Colliston is preparing an updated report on this property at this time and upon its completion, this report will be made available to our stockholders.
At the gold price of approximately US$400/oz (in August 2004), this provides a value estimate for the deposit in the range of up to $400 million. The estimated gold resource does not include the potential of the 16 gold placers identified on the property. At the current Gold price of circa US$900/oz, the revised and updated valuation report being prepared by Professor Colliston, will be significantly higher.
INTRODUCTION:
The Projects are located in the historic Mockingbird Mining District, about 50 miles (80 kilometres) southeast of Las Vegas. The project area is on federal lands about 5 miles (8 km) west of the major Las Vegas / Phoenix highway and within 10 miles (16km) of the Colorado River; it comprises of 4 claim groups spread over 2,500 acres.
As such, enough is known about the Projects to warrant reassessments of their mineral resource potential.
Significant reserves and gold mineralization are expected at depth, constrained by the structural controls associated with the Mockingbird detachment fault.
The sources of information available at the time of compilation of this report have been extracted from reports of the US Geological Survey, reports prepared for the Company and references from the gold industry including other Arizonian gold projects.
The resource potential available to the proposed future operations has been estimated by the project managers and consultants based on data drawn from reports and records related to "Mockingbird" and previous operations. There is no reason to doubt the authenticity or substance of those records and we believe that for the purposes of this report the estimates extracted from those reports could be acceptable.
A complete audit of the information available at the time of compilation has not been carried out, and the valuation of the mineral potential contained in this report assumes that confirmation of certain of the resources will be carried out at an early stage of exploration.
The investigations have concentrated on the review of the gold resource within the Mockingbird Project area and have relied on estimates and proposals as provided by the Company and previous data to make the review and estimates. There is no reason to doubt the information so obtained.
TITLE
Mining title consists of 2500 acres (1,011.72 HA) of mineral rights and comprise a number of federal claims namely:
Lode deposits: three
Placer deposits: sixteen.
And Claim Groups, which consist of:
The Mockingbird Claims, the Dandy Claims, the Great West Claims and the MP Claims.
It is significant to note that the claim block includes four existing mines namely, Mockingbird , Great West, Hall (Dandy) and Pocahontas; all these mines contributed significantly to the past gold production in this important gold producing mining district.
PROJECT OVERVIEW AND PAST EXPLORATION
The Mockingbird Project involves an important new type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which, like Mockingbird is in the highly extended Western Arizona terrain near the Colorado River.
Copperstone was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. Based upon the underground drilling by American Bonanza, it appears that the underground high-grade resource is even larger. This is however to be expected from the style of mineralization associated with detachment faults.
Unlike Copperstone, Mockingbird is an historic gold producer, producing some 15,000 ounces from high-grade ore at a weighted average grade of 0.8 oz/T. A majority of this production was from the Mockingbird Mine itself, which is the centerpiece of the Company's land position. Other mines producing gold were the Great West, Hall (Dandy) and Pocahontas Mines, all of which are included in the claim block (see Wilkins 1982).
A gold rush was initiated at Mockingbird during the 1980's, with many companies providing large amounts of exploration activity. Anaconda, who acquired the Mockingbird Project, focused exploration on the area east of the historic Mockingbird and Great West mines, and lying beneath the surface trace of the Mockingbird detachment fault.
Anaconda estimated a deposit of at least 10 million tons of .05 to 0.1 oz / T gold. This means the deposit is in the range of 500,000 to 1,000,000 ounces of gold, approximately the same size as Copperstone. This estimate does not include the additional vein material included in the earlier mentioned Wilkins Report. Joe Wilkins assessed the deposit for Gulf Mineral Resources in 1982 (see "Economic Geology of the Mockingbird Mine Area") and assumed a deposit of at least 500,000 tons at 0.1 oz / T from just the surface veins. The project was turned down as Gulf was of the opinion that the project was not big enough.
Next, Santa Fe Gold (now part of Newmont) acquired a claim block at the historic Mockingbird mine. Although their work showed anomalous gold in numerous samples, Santa Fe cancelled the project without drilling on the erroneous theory that the gold was largely found in veins and not in wall rock.
It is clear that in making this decision, the structural geology controls on the mineralization were poorly understood. This left the door open for Anaconda, which acquired two square miles of claims (all included in the Companies' land position). Anaconda geochemistry delineated numerous gold anomalies. A seismic survey confirmed that the detachment fault was largely horizontal under the eastern portion of their claim block.
There is little subsequent exploration history on the property. Arco (Anaconda's parent company) shut Anaconda down and abandoned the project. Chevron then staked the same area, did their geochemistry and selected drill targets. Chevron then merged with Gulf, and the combined unit was under the management of former Gulf personnel. As explained above, Gulf had previously turned down the project and now moved to terminate it. Western States next acquired the property for several years and apparently only did some trenching.
GEOLOGY OVERVIEW:
The Mockingbird Mining District is situated along an undulating pediment along the east flank of the Black Mountains and occurs in the "basin and "range" province of the south-western United States. The province has undergone crustal extension, with the development of symmetric structural arrays such as horsts and grabens, with the horsts being the ranges and the grabens being the basins in the "basin-and-range topography. Igneous activity (basaltic volcanism) occurred with the extensional faulting during the Mesozoic to the Cenozoic. The Mines in the district are situated along a distinct N30 degree west linear feature that cuts across the Black Mountains and displaces all older lithologic and tectonic features. The NW trend is probably a late tertiary, basin and range fault zone that localized and preserved the mineralization at the mines
The geology and mineralization of the Mockingbird District is strongly influenced by Tertiary-age detachment faults and younger high-angle normal faults, associated with the abovementioned crustal extension. The regional geological setting is a major detachment fault (called the "Mockingbird Mine Fault"; Faulds et al., 2000) separating tertiary volcanics in the upper plate from Precambrian gneiss in the lower plate.
Mineralization is found in both quartz veins and breccia zones hosted by steep faults. The mines in the Mockingbird district are located along northwest to east west striking, north-dipping to flat quartz veins containing specular hematite, oxidized copper minerals and free gold.
The nature of the structures and mineralization further suggest potential for another type of ore deposit - that of the strong likelihood of a major detachment fault associated gold / copper deposit, similar to the proven and mined Copperstone and Mesquite deposits. This was the working hypothesis of Anaconda and, later, Chevron. Unfortunately, the hypothesis could not be tested; neither company drilled the property because of project cancellation resulting from shutdown of the company (in the case of Anaconda) or merger (with Gulf, in the case of Chevron).
Surface and dump sampling shows a close correlation to Copperstone mineralization with the following average grades for all samples:
Gold - 0.09 oz/T; Silver - 0.3 oz/T and Copper -0.4%.
Chevron's geochemical work suggests two undrilled anomalies in Sections 26 and 35.
Sixteen Placer gold deposits have been identified on the claims area, but have not been tested to date.
EXPLORATION MODEL:
The Mockingbird Project area has the potential for the development of a large gold reserve.
Expectations are high that a resource will be confirmed by following the known mineralization, (a) eastward (in the case of the Mockingbird Mine) and (b) north-eastward (in the case of the Dandy and Great West) under the detachment fault. The deeper Mockingbird gold mineralization is expected to occur in northwest-striking, moderate to shallow dipping fault zones related to the Mockingbird fault structural horizon in the footwall of the fault (Precambrian basement gneiss). The expected gold mineralization will be associated with breccia zones where the fault rock has been intensely sheared, altered and replaced with intense hematite and magnetite, chloritization, silicification and copper oxides related to the fault. Without the benefit of Anaconda's work, it will be necessary to re-do some geochemical and geophysical work to select drill sites.
The Mockingbird Area is modelled as a lower plate deposit, and east of the Mockingbird detachment fault the lower plate is buried. This area east of the fault is where most of the former claims occur; however large scale mining did not acquire the historic Mockingbird, Dandy and Great West Mines which are west of the fault where the lower plate is exposed.
RESERVE REVIEW
Anaconda estimated an Inferred Resource of at least 10 million tons of 0.05 to 0.1 oz/T gold with additional resources of silver and copper. US Geological Survey Open File Report 92-002 and the Arizona Department of Mines and Mineral Resources corroborated these estimates. Underground operations and an open pit have previously been established with initial assay results and informal sampling confirming widespread surface gold mineralization, some of which is high grade gold (2 oz/T).
The deposit size may be in the range of 500,000 to 1,000,000 ounces of gold. At the gold price (in August 2004) of approximately US$400/oz, this provides an estimated value for the deposit of USD 400 million. The updated report will reflect the revaluation with gold now trading at circa US$900/oz.
The estimated gold resource does not include the potential of the 16 gold placers identified on the property.
CONCLUSIONS AND RECOMMENDATIONS
Conclusion
From the assessment of the Mockingbird Project Area the following conclusions are made:
1. The Mockingbird Project is a relatively high tonnage, low-grade potential deposit. It has an Inferred Resource of at least 10 million tons with variable grade of 0.05 - 0.10 oz/T (1.55 - 3.1 gram/ton).
2. The gold resource is estimated to be of the order of 500,000 to 1,000,000 ounces of gold; this excludes the potential of the 16 gold placers on the property.
3. Silver (0.3 oz/T) and Sulphide mineralization (copper: 0.4%) may also show potential during future development on the whole property.
4. The gold resource can be raised significantly by drilling for the subsurface extension of the Mockingbird Detachment Fault, with the expectation of discovering high volume mineralised detachment fault deposits.
5. The sixteen identified placer deposits are easily mineable and also have the potential of raising the gold resource.
Recommendations
Extensive exploration at greater depth should be considered as very important to increase the resource of the property and appropriate technology applied for its exploitation.
The other Gold Projects held by the Company will continue to be assessed but Management will be concentrating its efforts on the "Mockingbird" Property on an exclusive basis insofar as exploration and production planning for 2008.
Management will be releasing a very detailed report on the "Mockingbird" Property late next week.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its properties, namely "Mockingbird", "Ambassador", "Golden Eagle", "American Molygold" and "Rochester Molygold".
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
SOURCE: Hunt Gold Corporation
Hunt Gold Corporation
May 02, 2008 (BUSINESS WIRE) -- Hunt Gold Corporation (PINKSHEETS: HGLC.PK) confirms that it will be concentrating its exploration efforts in the immediate term on its "Mockingbird" Gold property.
It is intended that the Company have "Mockingbird" restored as an operating and producing gold mine in 2008.
The previous exploration work on this property has proven that these further exploration plans will yield significant results very rapidly; which will lead to production of gold on this property. "Mockingbird" is an historic gold producer and Management and their consulting Geologists are in possession of a huge amount of data in respect of this property.
The Company is not expecting to raise any cash to fund the development of "Mockingbird" and does not expect to issue any additional shares as a placing for cash. It is intended to utilize bank borrowing facilities, which are being negotiated at this time.
The Chairman of the Company's Advisory Committee, Professor Wayne P Colliston, is continuing with his re-assessment of the "Mockingbird" property. Professor Colliston is preparing an updated report on this property at this time and upon its completion, this report will be made available to our stockholders.
At the gold price of approximately US$400/oz (in August 2004), this provides a value estimate for the deposit in the range of up to $400 million. The estimated gold resource does not include the potential of the 16 gold placers identified on the property. At the current Gold price of circa US$900/oz, the revised and updated valuation report being prepared by Professor Colliston, will be significantly higher.
INTRODUCTION:
The Projects are located in the historic Mockingbird Mining District, about 50 miles (80 kilometres) southeast of Las Vegas. The project area is on federal lands about 5 miles (8 km) west of the major Las Vegas / Phoenix highway and within 10 miles (16km) of the Colorado River; it comprises of 4 claim groups spread over 2,500 acres.
As such, enough is known about the Projects to warrant reassessments of their mineral resource potential.
Significant reserves and gold mineralization are expected at depth, constrained by the structural controls associated with the Mockingbird detachment fault.
The sources of information available at the time of compilation of this report have been extracted from reports of the US Geological Survey, reports prepared for the Company and references from the gold industry including other Arizonian gold projects.
The resource potential available to the proposed future operations has been estimated by the project managers and consultants based on data drawn from reports and records related to "Mockingbird" and previous operations. There is no reason to doubt the authenticity or substance of those records and we believe that for the purposes of this report the estimates extracted from those reports could be acceptable.
A complete audit of the information available at the time of compilation has not been carried out, and the valuation of the mineral potential contained in this report assumes that confirmation of certain of the resources will be carried out at an early stage of exploration.
The investigations have concentrated on the review of the gold resource within the Mockingbird Project area and have relied on estimates and proposals as provided by the Company and previous data to make the review and estimates. There is no reason to doubt the information so obtained.
TITLE
Mining title consists of 2500 acres (1,011.72 HA) of mineral rights and comprise a number of federal claims namely:
Lode deposits: three
Placer deposits: sixteen.
And Claim Groups, which consist of:
The Mockingbird Claims, the Dandy Claims, the Great West Claims and the MP Claims.
It is significant to note that the claim block includes four existing mines namely, Mockingbird , Great West, Hall (Dandy) and Pocahontas; all these mines contributed significantly to the past gold production in this important gold producing mining district.
PROJECT OVERVIEW AND PAST EXPLORATION
The Mockingbird Project involves an important new type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which, like Mockingbird is in the highly extended Western Arizona terrain near the Colorado River.
Copperstone was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. Based upon the underground drilling by American Bonanza, it appears that the underground high-grade resource is even larger. This is however to be expected from the style of mineralization associated with detachment faults.
Unlike Copperstone, Mockingbird is an historic gold producer, producing some 15,000 ounces from high-grade ore at a weighted average grade of 0.8 oz/T. A majority of this production was from the Mockingbird Mine itself, which is the centerpiece of the Company's land position. Other mines producing gold were the Great West, Hall (Dandy) and Pocahontas Mines, all of which are included in the claim block (see Wilkins 1982).
A gold rush was initiated at Mockingbird during the 1980's, with many companies providing large amounts of exploration activity. Anaconda, who acquired the Mockingbird Project, focused exploration on the area east of the historic Mockingbird and Great West mines, and lying beneath the surface trace of the Mockingbird detachment fault.
Anaconda estimated a deposit of at least 10 million tons of .05 to 0.1 oz / T gold. This means the deposit is in the range of 500,000 to 1,000,000 ounces of gold, approximately the same size as Copperstone. This estimate does not include the additional vein material included in the earlier mentioned Wilkins Report. Joe Wilkins assessed the deposit for Gulf Mineral Resources in 1982 (see "Economic Geology of the Mockingbird Mine Area") and assumed a deposit of at least 500,000 tons at 0.1 oz / T from just the surface veins. The project was turned down as Gulf was of the opinion that the project was not big enough.
Next, Santa Fe Gold (now part of Newmont) acquired a claim block at the historic Mockingbird mine. Although their work showed anomalous gold in numerous samples, Santa Fe cancelled the project without drilling on the erroneous theory that the gold was largely found in veins and not in wall rock.
It is clear that in making this decision, the structural geology controls on the mineralization were poorly understood. This left the door open for Anaconda, which acquired two square miles of claims (all included in the Companies' land position). Anaconda geochemistry delineated numerous gold anomalies. A seismic survey confirmed that the detachment fault was largely horizontal under the eastern portion of their claim block.
There is little subsequent exploration history on the property. Arco (Anaconda's parent company) shut Anaconda down and abandoned the project. Chevron then staked the same area, did their geochemistry and selected drill targets. Chevron then merged with Gulf, and the combined unit was under the management of former Gulf personnel. As explained above, Gulf had previously turned down the project and now moved to terminate it. Western States next acquired the property for several years and apparently only did some trenching.
GEOLOGY OVERVIEW:
The Mockingbird Mining District is situated along an undulating pediment along the east flank of the Black Mountains and occurs in the "basin and "range" province of the south-western United States. The province has undergone crustal extension, with the development of symmetric structural arrays such as horsts and grabens, with the horsts being the ranges and the grabens being the basins in the "basin-and-range topography. Igneous activity (basaltic volcanism) occurred with the extensional faulting during the Mesozoic to the Cenozoic. The Mines in the district are situated along a distinct N30 degree west linear feature that cuts across the Black Mountains and displaces all older lithologic and tectonic features. The NW trend is probably a late tertiary, basin and range fault zone that localized and preserved the mineralization at the mines
The geology and mineralization of the Mockingbird District is strongly influenced by Tertiary-age detachment faults and younger high-angle normal faults, associated with the abovementioned crustal extension. The regional geological setting is a major detachment fault (called the "Mockingbird Mine Fault"; Faulds et al., 2000) separating tertiary volcanics in the upper plate from Precambrian gneiss in the lower plate.
Mineralization is found in both quartz veins and breccia zones hosted by steep faults. The mines in the Mockingbird district are located along northwest to east west striking, north-dipping to flat quartz veins containing specular hematite, oxidized copper minerals and free gold.
The nature of the structures and mineralization further suggest potential for another type of ore deposit - that of the strong likelihood of a major detachment fault associated gold / copper deposit, similar to the proven and mined Copperstone and Mesquite deposits. This was the working hypothesis of Anaconda and, later, Chevron. Unfortunately, the hypothesis could not be tested; neither company drilled the property because of project cancellation resulting from shutdown of the company (in the case of Anaconda) or merger (with Gulf, in the case of Chevron).
Surface and dump sampling shows a close correlation to Copperstone mineralization with the following average grades for all samples:
Gold - 0.09 oz/T; Silver - 0.3 oz/T and Copper -0.4%.
Chevron's geochemical work suggests two undrilled anomalies in Sections 26 and 35.
Sixteen Placer gold deposits have been identified on the claims area, but have not been tested to date.
EXPLORATION MODEL:
The Mockingbird Project area has the potential for the development of a large gold reserve.
Expectations are high that a resource will be confirmed by following the known mineralization, (a) eastward (in the case of the Mockingbird Mine) and (b) north-eastward (in the case of the Dandy and Great West) under the detachment fault. The deeper Mockingbird gold mineralization is expected to occur in northwest-striking, moderate to shallow dipping fault zones related to the Mockingbird fault structural horizon in the footwall of the fault (Precambrian basement gneiss). The expected gold mineralization will be associated with breccia zones where the fault rock has been intensely sheared, altered and replaced with intense hematite and magnetite, chloritization, silicification and copper oxides related to the fault. Without the benefit of Anaconda's work, it will be necessary to re-do some geochemical and geophysical work to select drill sites.
The Mockingbird Area is modelled as a lower plate deposit, and east of the Mockingbird detachment fault the lower plate is buried. This area east of the fault is where most of the former claims occur; however large scale mining did not acquire the historic Mockingbird, Dandy and Great West Mines which are west of the fault where the lower plate is exposed.
RESERVE REVIEW
Anaconda estimated an Inferred Resource of at least 10 million tons of 0.05 to 0.1 oz/T gold with additional resources of silver and copper. US Geological Survey Open File Report 92-002 and the Arizona Department of Mines and Mineral Resources corroborated these estimates. Underground operations and an open pit have previously been established with initial assay results and informal sampling confirming widespread surface gold mineralization, some of which is high grade gold (2 oz/T).
The deposit size may be in the range of 500,000 to 1,000,000 ounces of gold. At the gold price (in August 2004) of approximately US$400/oz, this provides an estimated value for the deposit of USD 400 million. The updated report will reflect the revaluation with gold now trading at circa US$900/oz.
The estimated gold resource does not include the potential of the 16 gold placers identified on the property.
CONCLUSIONS AND RECOMMENDATIONS
Conclusion
From the assessment of the Mockingbird Project Area the following conclusions are made:
1. The Mockingbird Project is a relatively high tonnage, low-grade potential deposit. It has an Inferred Resource of at least 10 million tons with variable grade of 0.05 - 0.10 oz/T (1.55 - 3.1 gram/ton).
2. The gold resource is estimated to be of the order of 500,000 to 1,000,000 ounces of gold; this excludes the potential of the 16 gold placers on the property.
3. Silver (0.3 oz/T) and Sulphide mineralization (copper: 0.4%) may also show potential during future development on the whole property.
4. The gold resource can be raised significantly by drilling for the subsurface extension of the Mockingbird Detachment Fault, with the expectation of discovering high volume mineralised detachment fault deposits.
5. The sixteen identified placer deposits are easily mineable and also have the potential of raising the gold resource.
Recommendations
Extensive exploration at greater depth should be considered as very important to increase the resource of the property and appropriate technology applied for its exploitation.
The other Gold Projects held by the Company will continue to be assessed but Management will be concentrating its efforts on the "Mockingbird" Property on an exclusive basis insofar as exploration and production planning for 2008.
Management will be releasing a very detailed report on the "Mockingbird" Property late next week.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its properties, namely "Mockingbird", "Ambassador", "Golden Eagle", "American Molygold" and "Rochester Molygold".
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
SOURCE: Hunt Gold Corporation
Hunt Gold Corporation
Good volume today
If they were we may see sampling results soon.
MARKET WIRE) -- 05/01/08 -- Delta Mining and Exploration Corp. (PINKSHEETS: DMXC) is pleased to announce the purchase of 100% mineral rights to one parcel of the Homestead target, and 50% to two parcels also comprising the Homestead target.
The Mineral Rights (Mineral Deed) grants a 2% net returns royalty to the Grantor for 100% mineral rights, and 1% net returns royalty to be paid to Grantor for the 50% mineral rights. Mineral Rights include all precious metals, mineral aggregates and metals containing diamonds, gold, silver; along with other precious metals, gems and gemstones, and any useful rare earth minerals, excluding oil and gas, and sand and gravel.
Delta also has an agreement in place for the right to purchase the remaining mineral rights of the two parcels mentioned above.
Mr. Brett Rodli, President and Chief Executive Officer of Delta Mining stated that the "purchase of the mineral rights gives Delta Mining an ownership interest in the property and a tangible asset that will further secure the Homestead property and its future development."
About Delta Mining and Exploration Corp.: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in central Montana, USA. Delta controls some 7,554 acres throughout Montana located within the Wyoming Craton where much of North America's diamonds have been found.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
Not yet
moonster no
Great West Gold, First purchase was mar. of 05.
Vianna, yes I am in this stock going on 3 years now, and have bought a lot recently. I believe this naked shorting will stop if the company follows through with what they have PRed. This NS is a real problem, SEC is trying to stop it, from what I have read lately. Be advised most companies fail in these circumstances, but I feel FFGO has a good chance of success. That is why I have been buying more.IMO this company is for real, can it survive, I hope so.
MM's continued Naked Shorting is what's going on