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Red Back(RBI.TO) finds 49meters@12.89grams/ton gold in Ghana
http://www.kitco.com/pr/1267/article_07252006092609.pdf
Also a different 31 meters at 7.19 grams/ton gold content.
Nice going, Red Back. FL
Only Canadians ...
should consider buying low-volume gold mine warrants traded in Toronto, if what I've read is true: that non-Canadians cannot legally exercise the warrants for stock.
See: http://www.preciousmetalswarrants.com
for information on buying warrants. He says don't worry just sell the warrant before the expiration date. Well, that's not so easy for the practically-no-volume warrants. A non-Canadian could get stuck with an impossible warrant towards the end of the excercise period.
Now, I don't really KNOW that foreigners can't exercise Canadian warrants -- I've never seen a law or regulation on the subject. Does anybody here know?
So my previous suggestion of the Avnel Gold warrant (traded on the Toronto Stock Exchange as AVK.W) might be bad for anyone but Canadians.
In fact the whole mining warrants (and "units") phenomenon looks like a trick by those fiendishly clever Canadians to relieve foreigners (including sweet naive Americans) of their money and post-dilution values. Otherwise, why would these "units" (stock with warrant or 1/2 warrant) ever have been invented?
One could raise capital with stock alone...
FL
Avnel (AVK.TO) finds new gold away from its operating mine
The trading volume on this Avnel stock is vexingly low. The price haqs been vexingly unwilling to dip to meet my cheapskate bids. One could go for the warrant, which gets a bit of volume now and then.
See: http://www.kitco.com/pr/1768/article_07172006094620.pdf" target="_blank">http://www.kitco.com/pr/frame/index_prec.html?http://www.kitco.com/pr/1768/article_07172006094620.pd...
for the story. The successful exploration is lagniappe in addition to Avnel's operating gold mine. Note that Avnel's on the main Toronto exchange, not the Venture. It surely seems to be "under the radar". FL
Extension hits for Golden Star (GSS) at Benso, Ghana
[ Good drilling result. I said GSS underpaid for Benso. GSS price has been way down from its parabolic peaks a couple of years ago (at much lower gold prices then, before the hostile takeover wars); we'll see if this starts a deserved GSS (relative) price rise. I consider Hwini-Butre to be part of a large "Benso complex" of numerous gold reefs, so I call it all "Benso". I still don't know why St. Jude had to cave in and sell Benso to Golden Star for so little. We St. Jude shareholders got a little % of GSS for our shares. FL ]
Golden Star Reports Extensions to Gold Deposits at the Hwini-Butre and Benso Project in Ghana
DENVER--(BUSINESS WIRE)--July 20, 2006--Golden Star Resources Ltd. (AMEX:GSS), (TSX:GSC) today announced recent exploration results for the Hwini-Butre and Benso projects, which are located to the south of Golden Star's Wassa gold mine in Ghana. The work has indicated three possible new zones on the Benso concession and extended the known mineralization, along-strike and down dip, at the Father Brown and Adoikrom deposits on the Hwini-Butre concession. Separately, drilling to collect metallurgical and geotechnical samples for the feasibility study, which is expected to be concluded by the end of 2006, has been completed. Work to date totals in excess of 6,400 meters of deep augur, 14,300 meters of rotary air blast (RAB) drilling and 7,000 meters of reverse circulation (RC) and diamond drilling.
Dr. Doug Jones, Vice President, Exploration said, "In January 2006, Golden Star commenced an aggressive program of exploration to extend the known mineralized zones at Hwini-Butre and Benso and to upgrade and expand the previously defined resources. At the time of acquisition, St. Jude Resources Ltd. had reported that Hwini-Butre and Benso had total near surface attributable indicated mineral resources of approximately 5.3 million tonnes at an average grade of 4.5 grams of gold per tonne for about 0.77 million ounces of contained gold."
"The exploration work," continued Dr. Jones, "has included intensive programs of diamond core drilling and RC drilling at the main prospects and RAB drilling along extensions of the mineralized structures. Results obtained to date have been highly encouraging and indicate that excellent potential exists to expand the resource. In addition, data from geochemical surveys carried out previously have been reviewed and the geochemical coverage has been extended to new areas believed to have geological potential for repetitions of the known mineralized structures. In parallel, Golden Star is assessing development scenarios for Hwini-Butre and Benso and expects to complete a feasibility study by late 2006 which is expected to result in the conversion of a portion of the resources to reserves. The most likely development scenario continues to be the mining and haulage of the high grade Hwini-Butre and Benso ore to Wassa, in order to extend the life of the Wassa mine and increase production at lower cash costs with minimal additional capital investment."
Auger and RAB Drilling Program
In January 2006, Golden Star commenced a deep auger sampling program on both the Hwini-Butre and Benso concessions to delineate further RAB targets. At mid-year, approximately 6,400 meters of deep auger drilling had been completed.
Since January 2006, approximately 6,500 meters and 7,800 meters of follow up RAB drilling has been completed at Hwini-Butre and Benso respectively using two RAB drill rigs, which continue to test deep auger targets on 200 meter spaced fences.
New Targets Generated
Drilling to date has delineated three new targets. These new zones are shown on new maps located on the Golden Star Resources website (http://www.gsr.com/Operations/WestAfrican.asp) under the St. Jude-Ghana section. The zones are along projected strike extensions of targets identified by drilling prior to 2006.
-- The first of these is located approximately 400 meters south of the last diamond drill hole previously collared in the Subriso East target. Golden Star RAB hole BERB145 intersected 8 meters grading 22 grams of gold per tonne and was terminated in mineralization.
-- The second zone is located on what is interpreted to be the same structure and is approximately one kilometer further to the south. Golden Star RAB holes BERB253 and 254 were both terminated early due to wet samples but intersected two 3 meter zones grading approximately 3 grams of gold per tonne. Both of these targets are currently being tested with RC and core drilling to determine the extents of the mineralization down dip and along strike.
-- The third new target generated by the RAB drilling is located approximately 800 meters southeast of St. Jude's "G" zone along the projected strike extension of this zone. BERB302 intersected 9 meters grading 3.42 grams of gold per tonne. The southeast extension of G zone is currently being tested with infill RAB drilling on 100 meter spaced fences.
In addition to these new targets that have been generated, we have also been testing the immediate strike extensions of the zones defined by previous exploration to determine the potential for additional mineralization within these zones.
Significant results from the RAB drilling are shown below with complete results and a location map provided on our web site www.gsr.com.
Hole ID North East From To Dip Azimuth Inter- True Grade
(m) (m) section Width (g/t)
(m) (m)
----------------------------------------------------------------------
Benso
----------------------------------------------------------------------
BERB302 57485 175512 12.0 21.0 -50 90 9.0 6.9 3.42
----------------------------------------------------------------------
BERB058 58034 176720 1.0 21.0 -50 90 20.0 15.3 1.75
----------------------------------------------------------------------
BERB145 58501 176962 22.0 30.0 -50 90 8.0 6.1 22.04
----------------------------------------------------------------------
Hwini-Butre
----------------------------------------------------------------------
HBRB0001 32759 176934 0.0 6.0 -50 90 6.0 4.6 4.54
----------------------------------------------------------------------
HBRB0002 32759 176958 9.0 12.0 -50 90 3.0 2.3 19.65
----------------------------------------------------------------------
HBRB0021 32811 176805 0.0 9.0 -50 90 9.0 6.9 19.52
----------------------------------------------------------------------
HBRB0034 33015 176543 17.0 29.0 -50 90 12.0 9.2 3.64
----------------------------------------------------------------------
HBRB0044 33119 176298 2.0 10.0 -50 90 8.0 6.1 3.42
----------------------------------------------------------------------
HBRB0094 33369 176318 0.0 18.0 -50 90 18.0 13.8 2.89
----------------------------------------------------------------------
HBRB0095 33419 176318 0.0 22.0 -50 90 22.0 16.9 3.46
----------------------------------------------------------------------
HBRB0097 33442 176334 0.0 11.0 -50 90 11.0 8.4 9.84
----------------------------------------------------------------------
HBRB0175 34496 176200 9.0 15.0 -50 90 6.0 4.6 5.58
----------------------------------------------------------------------
HBRB0253 32659 177145 1.0 7.0 -50 90 6.0 4.6 3.24
----------------------------------------------------------------------
HBRB0325 33208 177191 11.0 20.0 -50 90 9.0 6.9 3.48
----------------------------------------------------------------------
Resource Definition Drilling
Resource definition RC and diamond core drilling has been undertaken on both the Hwini-Butre and Benso concessions. At Hwini-Butre we have completed in excess of 6,000 meters of drilling. Initial RC drilling below our earlier RAB intersections has tested the southern extents of the Adoikrom zone for another 175 meters to the south and confirmed that the mineralization continues with true widths and grades ranging between 4 and 7 meters and 1 to 3 grams per tonne gold.
Metallurgical holes to collect oxide material for testing have confirmed the previous St. Jude drilling and results for holes ADKRC009 to 016 are tabulated below. Diamond drilling at Adoikrom testing the down dip extensions of the mineralization was conducted on 100 meter fences and confirmed the zone continues at depth. ADKDD001 and 003 intersected approximately 9 meter true thickness grading about 2.5 grams of gold per tonne between 50 and 75 meters down dip of the last drilling. This new drilling will be used to update the block models and to delineate new optimized pit shells to determine whether the down dip extensions of the Adoikrom zone are exploitable by open pit. If this is the case, Golden Star expects to conduct further drilling to delineate the extents of the economic mineralization.
Significant intersections from the Adoikrom drilling are tabulated below with complete results and a location plan provided on our web site www.gsr.com.
Hole ID North East From To Dip Azimuth Inter- True Grade
(m) (m) section Width (g/t)
(m) (m)
----------------------------------------------------------------------
ADKRC009 33168 176249 60.0 69.0 -50 90 9.0 6.9 3.07
----------------------------------------------------------------------
ADKRC010 33167 176289 16.0 25.0 -50 90 9.0 6.9 2.24
----------------------------------------------------------------------
ADKRC011 33117 176273 28.0 35.0 -50 88 7.0 5.4 2.22
----------------------------------------------------------------------
ADKRC012 33356 176309 0.0 21.0 -50 90 21.0 16.1 3.46
----------------------------------------------------------------------
ADKRC013 33529 176322 0.0 19.0 -50 90 19.0 14.6 4.72
----------------------------------------------------------------------
ADKRC014 33479 176337 0.0 15.0 -50 90 15.0 11.5 3.88
----------------------------------------------------------------------
ADKRC015 33453 176324 0.0 23.0 -50 90 23.0 17.6 4.91
----------------------------------------------------------------------
ADKRC016 33428 176322 0.0 17.0 -50 90 17.0 13.0 2.51
----------------------------------------------------------------------
ADKDD001 33346 176124 208.8 220.9 -54 99 12.2 9.8 2.71
----------------------------------------------------------------------
ADKDD003 33447 176101 222.0 233.0 -53 94 11.0 8.8 2.52
----------------------------------------------------------------------
The Father Brown deposit located in the footwall and south of the Adoikrom zone is a relatively narrow high grade target which has previously been tested by St. Jude. The narrow high grade nature of this zone potentially makes it amenable to underground exploitation. To test the continuity of the zone down dip and along strike Golden Star has completed an initial phase of drilling involving 17 holes, FBZDD001 to 017. All holes intersected the structure with grades and true thickness ranging from a few grams to over 45 grams of gold per tonne over 1 to 5 meters. Hole FBZDD012 was drilled approximately 300 meters down dip of the last drilling completed by St. Jude and intersected an estimated true thickness of 5.7 meters grading 15.3 grams of gold per tonne. This intersection is located 275 meters vertically below surface and is an excellent underground target. Drill holes FBZDD011, 004 and 003 which are located approximately 100, 150 and 250 meters up dip of hole 12, confirmed continuity of the structure, intersecting similar widths with lower but still encouraging grades. Significant results from the Father Brown drilling are tabulated below with complete results and a location plan provided on our web site www.gsr.com.
Hole ID North East From To Dip Azimuth Inter- True Grade
(m) (m) section Width (g/t)
(m) (m)
----------------------------------------------------------------------
FBZDD001 33142 176430 143.9 145.4 -62.5 87 1.5 1.5 46.26
----------------------------------------------------------------------
FBZDD003 33042 176426 45.0 49.0 -60 90 4.0 4.0 3.46
----------------------------------------------------------------------
FBZDD003 33042 176426 76.0 78.0 -60 90 2.0 2.0 5.64
----------------------------------------------------------------------
FBZDD004 33042 176424 53.0 55.0 -84 90 2.0 1.7 16.43
----------------------------------------------------------------------
FBZDD004 33042 176424 203.9 208.5 -85 90 4.6 4.0 9.64
----------------------------------------------------------------------
FBZDD005 32842 176424 230.0 232.0 -70 90 2.0 1.9 5.68
----------------------------------------------------------------------
FBZDD008 33092 176437 148.0 151.7 -67 92 3.7 3.6 5.81
----------------------------------------------------------------------
FBZDD009 32992 176431 74.0 77.0 -67 91 3.0 2.9 6.14
----------------------------------------------------------------------
FBZDD009 32992 176431 186.0 189.6 -68.5 104 3.6 3.5 5.87
----------------------------------------------------------------------
FBZDD010 33092 176436 171.0 172.0 -77 101 1.0 0.9 10.92
----------------------------------------------------------------------
FBZDD011 33044 176272 220.0 224.0 -62 97 4.0 4.0 3.00
----------------------------------------------------------------------
FBZDD011 33044 176272 261.0 266.3 -62 97 5.3 5.3 3.33
----------------------------------------------------------------------
FBZDD012 33044 176270 39.0 47.0 -80 90 8.0 7.3 2.30
----------------------------------------------------------------------
FBZDD012 33044 176270 289.0 295.3 -80 128 6.3 5.7 15.31
----------------------------------------------------------------------
FBZDD013 32793 176592 149.7 151.0 -83 112 1.3 1.1 5.14
----------------------------------------------------------------------
FBZDD016 32892 176433 205.0 207.8 -61 98 2.8 2.8 4.35
----------------------------------------------------------------------
The Father Brown mineralization consists of white quartz veins with pale alteration haloes hosted by dark green diorites of the Mpohor Complex which would allow visual grade control, which along with the competent host rock, narrow widths and relatively high grades further favor underground extraction.
Resource definition drilling has just commenced at Benso with less than 1,000 meters being completed to date. Results from this work will be provided in a future press release.
Technical Studies
Some 2,800 meters of drilling to collect samples for further metallurgical and geotechnical test work for the feasibility study has been completed and the samples are being packed for shipment to Ammtec Laboratories in Australia. Geotechnical drill core testing is ongoing with results being sent to SRK Cardiff for the determination of pit design parameters.
Expenditure
Exploration expenditures on the project to date in 2006 are approximately $0.9 million with an additional approximate $0.4 million being spent on engineering and metallurgical drilling. The exploration budget for Hwini-Butre, Benso and surrounding concessions in 2006 is $3.3 million with another $1.0 million allowed for feasibility study work. Both exploration and development programs are progressing on schedule and under budget.
Standards of Disclosure
This news release has been prepared in accordance with Canada's National Instrument 43-101, Standards of Disclosure for Mineral Projects. Drilling, sampling and laboratory quality assurance and control have been overseen and reviewed by S. Mitchel Wasel, our Exploration Manager, West Africa. Mr. Wasel is a qualified geologist with 18 years of experience in gold and base metal exploration and is a Member of the Australasian Institute of Mining and Metallurgy.
All diamond drill core is being sawn on site, with half the core lengths sent to TransWorld Laboratories in Tarkwa, Ghana, for sample preparation and analysis. The remaining half core is stored on site for future inspection and detailed logging, to provide valuable information on mineralogy, structure, alteration patterns and the controls on gold mineralization.
All RAB holes are initially sampled in three meter composites, with intervals exceeding 0.2 grams of gold per tonne being resampled on one meter intervals. All RC holes are sampled in two meter composites with all intervals exceeding 0.2 grams of gold per tonne being resampled on one meter intervals.
All sample preparation, crushing and analysis are carried out at the TransWorld Laboratories in Tarkwa, Ghana. Samples are subjected to 12-hour BLEG Leachwell analysis of 1,000 gram sub-samples pulverized to 85% at minus 75 microns (200#) to a quoted accuracy of 10 parts per billion of gold. All analytical work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are blanks, duplicates and certified standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual 'standard' results.
The tables within this press release summarize the significant intersections to date from our ongoing drilling programs. Full details of the drill results are provided on the Company's website at www.gsr.com.
Company Profile
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America.
Note regarding Canada's National Instrument 43-101: The above disclosure has been reviewed by our Qualified Person, Mr. S. Mitchel Wasel, our Exploration Manager in Ghana.
Cautionary Note to US Investors concerning estimates of Indicated Mineral Resources: This press release uses the terms "indicated mineral resources." We advise US investors that while this term is recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize it. US investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding: the exploration assessment, and possible development, mining and processing of material from Hwini-Butre and Benso; the timing for the completion of a feasibility study; potential extension of Wassa mine life, and production, cash costs and capital investment impacts; and the budgeted exploration expenditures for Hwini-Butre and Benso. Factors that could cause actual results to differ materially include variations in ore tonnes and grade; variations in relative amounts of material type; the estimation of mineral resources; delay or failure to receive board or government approvals and permits; timing and availability of external financing on acceptable terms; technical, permitting, mining or processing issues; fluctuations in gold price and costs; and a determination to use funds for other purposes. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of risk factors in our Form 10-K for 2005. The forward looking statements contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event. Investors and others should not assume that any forward looking statements in this press release represent management's estimate as of any date other than the date of this press release.
CONTACT:
GOLDEN STAR RESOURCES LTD.
President and CEO
Peter Bradford, +1-800-553-8436
or
Chief Financial Officer
Allan Marter, +1-800-553-8436
or
Investor Relations Manager
Anne Hite, +1-800-553-8436
SOURCE:
Golden Star Resources Ltd.
Searchgold's (RSG.V) methods in Gabon (no results given)
Searchgold Provides an Update on Bakoudou-Magnima Gold Project in Gabon
MONTREAL, QUEBEC, Jul 11, 2006 (MARKET WIRE via COMTEX) -- SearchGold Resources Inc. (CA:RSG: news, chart, profile) (FSE: S10) hereby provides an update regarding the surface work program on its Bakoudou-Magnima Gold Project located in Gabon in Africa.
In July 2005, SearchGold signed a strategic $4,200,000 joint venture agreement on the Bakoudou-Magnima Gold Project with Managem, a successful, established African-based mining company ( www.managem-ona.com). Through its subsidiaries, Managem, the mining branch of ONA, operates 6 mines in Morocco and was also involved in the development of two gold mines in West Africa, the Kiniero mine in Guinea and the recently commissioned Samira Hill mine in Niger.
The Bakoudou-Magnima Gold Project comprises the Magnima prospecting authorization with a 2,294 km2 surface area and the Bakoudou exploitation permit with a surface area of 24 km2. Zone A, SearchGold's first advanced target located on the Bakoudou permit, sits at the southern extremity of a 3 km northwest trending gold bearing corridor.
In line with SearchGold's corporate objectives to achieve producer status while maximizing the blue sky potential of its properties, the current program is designed to fast track a production decision on an optimized resource estimate while immediately testing Zone A's proximal targets.
As of July 5th 2006, the following surface work had been executed.
Work on Bakoudou
The object of this work is to insure a complete coverage of the Bakoudou permit with ground geophysics and surface soil geochemistry. A total of 260 km of lines were cut at a 100 m spacing with an orientation of 076 degrees, representing 100% of the set objective.
Magnetic profiles were executed with a 100 m line spacing and readings taken every 12,5 m. The magnetic survey is 100% complete.
Following positive results from induced polarization tests on Zone A, it was decided to cover the entirety of the permit with a 200 m line spacing and a depth of investigation of 80 to 100 m. The induced polarization survey is 90% complete.
A total of 4244 geochemistry soil samples were taken to this date, representing 42% of the total planned coverage. The geochemical soil profile are executed with a 100 m line spacing and samples area taken every 25 m. Details regarding the sampling method as well as preparation and analysis are given below.
Work on Magnima
The object of this work is to insure the coverage of a 5 to 7 km wide belt surrounding the Bakoudou permit. A preliminary lineament study highlighted the presence of structural features similar to the ones observed on Zone A and one of the partnership's objectives being the identification of satellite bodies, a semi-regional exploration stream sampling program has been initiated in parallel to the detail work carried out on Bakoudou.
The work was executed by blocs, respectively located north, west, south and east of the Bakoudou permit.
The following blocs were investigated :
- North Bloc : 14,0 km x 8,5 km for a total surface area of 119 km2
and the sampling of 150 stream samples (average of 1,27 sample /
km2).
- West Bloc : 7,0 km x 6,7 km for a total surface area of 47 km2 and
the sampling of 74 stream samples (average of 1,6 sample / km2).
- South Bloc : 8,0 km x 6,0 km for a total surface area of 48 km2 and
42 samples already located.
Details regarding the sampling method as well as preparation and
analysis are given below.
Procedure regarding geochemistry soil samples
The sampling is carried out on every line with a 25 m spacing under the supervision of a geological technician verifying and controlling the reliability of the sampling. An initial quantity sufficient to obtain approximately 100 g of -125 microns m material after drying and sieving is taken.
Each sample, of an approximate weight of 1,5 kg, is a composite of three sub-samples ; the first one is taken directly on the line while the other two are taken 10 m away perpendicularly on each side of the line. While the samples are being taken, a geomorphological map is executed on which the direction and intensity of the slope for each sampling point is indicated.
Procedure regarding geochemsitry stream samples
The geochemsitry stream samples are taken according to a set sampling pattern established on the basis of the topography and hydrographic basin specific to each Bloc.
The sampling is carried out under the supervision of a geological technician verifying and controlling the reliability of the sampling. An initial quantity sufficient to obtain approximately 50 g of -125 microns m material after drying and sieving is taken; each sample having an initial approximate weight of 7,0 kg.
Analysis of the samples
Samples area analyzed with an atomic absorption method at Abilab's laboratory in Mali. The method consists in dissolving the samples in aqua regia followed by the determination of the dissolved gold content by atomic absorption spectrophotometry following organic solvent extraction (DIBK). The analysis is executed on 30 g aliquots and a 2 ppb detection limit is achieved. A rigorous QA/QC program established by the laboratory involves the random inclusion of standards, duplicates and blanks at the sample collection and preparation stage.
SearchGold Resources is a Canadian based mining exploration company whose primary mission is to target, explore and develop gold and diamond deposits in Africa and in Canada. SearchGold's project strategy maximizes its experience and resources, and supports the company's commitment to strengthen shareholder value.
If you would like to receive press releases via e-mail please contact: info@searchgold.ca
FOR FURTHER INFORMATION PLEASE VISIT http://www.searchgold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Contacts: SearchGold Resources Inc. Philippe Giaro President & CEO 32-473-52-30-29 phgiaro@skynet.be SearchGold Resources 514-866-4224 info@searchgold.ca
SOURCE: SearchGold Resources Inc.
mailto:phgiaro@skynet.be mailto:info@searchgold.ca Copyright 2006 Market Wire, All rights reserved. End of Story
Once, perusing Toronto Stock Exchange rules, I think I remember seeing some rule that a member had an obligation not to execute obviously-way-out-of-line bids/asks (such as a bid for one percent of the stock price, I suppose). But I don't really remember what it said, just that there might be a limit on execution of stink bids/asks. Some people do use market orders. Suppose you put out a stink ASK for C$100.00/share for a thinly-traded penny stock, and it happens that a market buy order misses or exceeds any reasonable bids. I wonder whether the other party would really have to pay.
That's why market orders are so scary for thinly traded stocks and warrants. For liquid stocks, Jesse Livermore advised people to use market orders, not limit or stop orders. He said the few pennies difference may be the most expensive pennies you ever see, if you miss a big move trying to eke out a few. But for illiquid stocks (say, Avnel Gold AVK.TO...) use limit orders only.
Thanks for explaining the downward spike in Oromin in May. Where do you learn about these things?
Nevsun's Tabakoto Mine in Mali proceeding
TABAKOTO MINE UPDATE
Nevsun Resources Ltd. (NSU-TSX and AMEX) is very pleased to report that the final stage of commissioning of the Tabakoto Mine processing plant is nearing completion. The commissioning of the milling operations commenced in February/March 2006 with soft low grade oxide ore being fed to the plant via an auxiliary crushing unit. This allowed the milling, leaching and tailings disposal facilities to be fully commissioned while company staff completed the construction of the three stage crushing plant. Tabakoto’s higher grade unoxidised ore (+5.0 g/t Au) are extremely hard and require three stages of crushing to a half inch product to feed the ball mill at its design of 2000 tonnes per day.
The first gold pour was made at Tabakoto in late March and the first gold shipment was made in mid May. On Monday May 22nd the President of Mali, President Amadou Toumani Toure, officially opened the Tabakoto Mine.
By the end of April ore processing was running at about 90% of design tonnage and by the end of June at design tonnage. With the main feed to the plant continuing to be softer low grade oxide ores, the mill circuit will only be able to be fully tested when the crushing plant has been completed. During the commissioning period to the end of June over 10,000 ounces of gold has been poured.
Commissioning of the primary and secondary crushers commenced in mid June. Bringing the tertiary crusher on stream has taken a further month during which time some modifications to the plant were completed, essential spares were delivered, the primary and secondary units were tested, and site staff were trained. The Company expects a further two weeks of testing before the tertiary crusher is fully commissioned.
Since January 2006, Nevsun has completed the building of the process and site facilities at the Tabakoto Mine using its own management and staff complemented with some key supervisors and skilled artisans retained from the original construction engineering company. Nevsun’s Chief Operating Officer, Gerry Gauthier comments “Finishing the build program at Tabakoto and bringing each stage of the plant on stream ourselves has had its challenges. Building the team and training site staff at the same time has allowed our people to show their metal. We can now look forward to getting on with optimising operations and reassessing our exploration opportunities”.
Forward Looking Statements: [ omitted ]
NEVSUN RESOURCES LTD.
“John A. Clarke”
Dr. John A. Clarke
President & Chief Executive Officer
For further information, Contact:
Judy Baker
(604) 623-4704 or (416) 786-7860 or 1-888-600-2200
e-mail: nevsuninfo@nevsun.com
Website: www.nevsun.com
caliche: "lol .. why brave man...it has been one of my best performers to date and there have been no surprises except for the 100K mgn call back in may .. still kicking myself i had no stink bids..
should i not be sleeping well?"
MARGIN? That alone makes you braver than I am. If I'd bought my West African golds on margin, I'd probably have been wiped out by the swings and downdrafts. I might not still have my beloved Birim Goldfields (BGI.TO) which dropped 50% some years ago, though I'm still ahead, or my Searchgold (RSG.V) which is down almost 50% from when I bought it recently at C$0.19. If you "never meet a margin call" then that imposes some cut-your-losses discipline, but, to me, West Aftican golds are too volatile for that.
Some people are smart and know when stocks are going up. I'm not, so I'm disinclined to "double up" -- especially when a 50% dip is a normal event on the way to the top.
FL
What's the best way to do "stink bids"? caliche wrote: ".. still kicking myself i had no stink bids.."
Is there a formal or informal limit as to how low a stink bid will be executed? What pattern should be used?
FL
Brave man: "Oromin... it is my largest position by dollar value
caliche"
It's my smallest. My largest now (to my great surprise) is Agnico Eagle (AEM). But I like Senegal.
FL
Rio Narcia(RNG.to,RNO Am)'s gold to become all Mauritanian?
Rio Narcea Receives Approval From Spanish Labour Authority for Closure of its Spanish Gold Operations
2006-07-10 14:33 ET - News Release
TORONTO, ONTARIO -- (MARKET WIRE) -- 07/10/06
Rio Narcea Gold Mines, Ltd. ("Rio Narcea" or "the Company")(TSX: RNG)(AMEX: RNO) has reached a collective redundancy agreement (ERE agreement) with the local unions and mine workers regarding the closure of the El Valle and Carles gold operations and has received approval from the Spanish Labour Authority for this agreement. This approval is required by the labour laws of Spain when redundancy affects more than 10% of the workforce.
Under the terms of the agreement each worker that is made redundant will receive a cash payment proportional to the years employed with Rio Narcea and a variable payment linked to the achievement of certain gold production targets during the last six months of the year. The costs arising from this agreement are in line with the Company's budgeted expectations, which are anticipated to be $US 4 million and which were already recorded in the 2005 year-end financial statements.
The closure of these operations results mainly from the high mining costs at El Valle due to the poor ground conditions and low grade encountered underground. In 2006, mining at both El Valle and Carles mines has concentrated in developed areas only and development and exploration work was suspended to preserve cash. The mines are expected to be closed by the end of this year.
Rio Narcea Gold Mines, Ltd. is a growing Canadian mineral resource company with operations, development projects and exploration activities in Spain, Portugal and Mauritania. The Company currently produces nickel at its Aguablanca nickel-copper-platinum group metals (PGM) mine in southern Spain and gold at it's at El Valle and Carles projects in northern Spain. Closure of the northern Spanish gold mines is planned for by the end of 2006. Construction of its new Tasiast gold project in Mauritania, West Africa, is underway, with production expected in 2007.
Forward-looking Statements
This press release may contain certain "forward looking statements" within the meaning of the United States securities laws. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, capital expenditures, exploration efforts, financial needs, and other information that is not historical information. The forward-looking statements contained herein are based on Rio Narcea's current expectations and various assumptions as of the date such statements are made. Rio Narcea cannot give assurance that such statements will prove to be correct.
Factors that could cause Rio Narcea's actual results to differ materially from these statements include, but are not limited to, changes in gold and nickel prices, the timing and amount of estimated future production, unanticipated grade changes, unanticipated recovery problems, mining and milling costs, determination of reserves, costs and timing of the development of new deposits, metallurgy, processing, access, transportation of supplies, water availability, results of current and future exploration activities, results of pending and future feasibility studies, changes in project parameters as plans continue to be refined, political, economic and operational risks of foreign operations, joint venture relationships, availability of materials and equipment, the timing of receipt of governmental approvals, capitalization and commercial viability, the failure of plant, equipment or processes to operate in accordance with specifications or expectations, accidents, labour disputes, delays in start-up dates, environmental costs and risks, local and community impacts and issues, and general domestic and international economic and political conditions.
Rio Narcea undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The reader is cautioned not to place undue reliance on forward looking statements.
Contacts:
Rio Narcea Gold Mines, Ltd.
Chris von Christierson
Chairman & CEO
+ (44) 207 629 2252
cvc@sprospecting.com
Rio Narcea Gold Mines, Ltd.
Omar Gomez
C.F.O.
+ (34) 98 573 3300
omar.gomez@rngm.es
www.rionarcea.com
Roth Investor Relations, Inc.
Michelle Roth
+1 (732) 792-2200
michelleroth@rothir.com
Birim (BGI.TO) problem? The attached message is about reviving the old (several times abandoned) "Bui Dam" scheme that would flood the Black Volta river in Bui national park, Ghana, and possibly some areas on the Bui gold concession of Birim Goldfields. I don't know how much it will hurt Birim, if at all. I have some Birim stock.
FL
================================
China to kill off Ghana's hippos; wrecking river
This will destroy the habitat of Ghana's 400 hippopotamuses living in the upper Black Volta river in Bui National Park. China has wrecked and polluted its own environment (an utter disgrace) and now it will do the same to Ghana. They dangle the possibility of future money.
------------------------------------------
China to finance Ghana dam
Jun 20 2006 01:25:08:190PM
Accra - China is likely to finance a $600m hydroelectric dam in northern Ghana which could boost the West African country's gold and iron ore industries, officials said during a visit by Chinese premier Wen Jiabao.
Wen is on a seven-nation tour in Africa, where China is investing heavily in resource-rich nations as it seeks access to minerals and crude oil to feed its rapid industrialisation.
"The President (John Kufuor of Ghana) presented the Bui Dam project to the Chinese as one of his priority projects and we're confident it will get funding," Yaw Afari-Donkor, Ghana's ambassador to Beijing, told Reuters.
"The initial estimated cost is $600m but we're now fleshing out detailed costing and a financing plan," he said, adding he expected a deal to be signed when Kufuor visited Beijing in November.
A joint communique issued as Wen left Ghana for Congo Republic, the next stop on his tour, said China was ready to continue discussions to find a "win-win solution" for the project but it gave no further details.
Ghana's electric power is generated largely from the Volta and Kpong Dams in the southeast, with a combined installed capacity of 1,180 megawatts, in addition to 550 megawatts from a thermal plant at Aboadze in the west.
"The Bui Dam will make a big economic impact for mining iron ore and gold in the north of the country, and it will improve power supply for everybody," finance minister Kwadwo Baah-Wiredu told Reuters.
Wen, the third high-ranking Chinese official to visit Africa in six months, said on Sunday that China's wooing of African countries was based on mutual benefit and was part of a bid to increase commodity and energy imports.
---------------------------------
GROWTH of a golden cherry versus a canteloupe.
"You are comparing apples & oranges FL." wazzock said.
As Ed Monton correctly said, I was comparing the effects of the drilling announcements, not the total values of the companies. The fact that Glencar is so much smaller means that the spectacular bonanza announcement should have a far greater percentage effect on Glencar than it would on Etruscan or any much-larger company. And it did well. My point is that now, with gold resuming its price rise, Glencar "should" have the best leverage. Remember, Glencar went from having almost nothing (well that's unfair to its Ghana property) to having everything, in one announcement. That's the drama of gold exploration. The big hit.
And remember that Glencar had only drilled 1,942 meters total when they announced the bonanza hit. AND that they conservatively EXCLUDED the two meters containing 34O grams/ton and 475 grams/ton of gold from the published average. What if there are lots more meters like those down there?
"EET is already a gold producer with the 100,000 oz/yr Samira Hill mine."
Sort of. It has a minority share and I think Semafo (SMF.TO) does the actual work at Samira Hill. But yes.
"EET have a second (100% owned) mine under construction.
EET have two other mines in late stage exploration with >1MM oz proven recoverable reserves (and growing).
EET have 36 other high-grade properties in known gold belts.
EET have 1 billion tonnes of proven grade diamondiferous gravels in South Africa.
EET have sound management with 10 year track record.
EET have lots of working capital (around $30MM)."
Yes, yes, all good. I've liked Etruscan and almost bought it. I didn't want to mess with diamonds in South Africa, and for Samira Hill in Niger I got some Semafo (SMF.TO) stock instead which has been great (it runs the mine).
"I'm sure Glencar is on the right track with good property in Mali and good luck to you with it, but you need to do a bit better if you are intent on company comparisons."
Effect-of-strike comparisons, not company comparisons. All the things you listed show that the companies are not now very comparable.
"I notice that Glencar has over 230 million shares out - EET is around half of that."
What of it? Pence versus dollars obviates that. I compared the two market capitalizations converted to US dollars.
"EET has gold and diamond production already, Glencar does not. Lastly, looking at results from a single drill hole is foolish."
Well Glencar then had 27 holes -- most or all ending in mineralization. Glencar has done more since then. I just highlighted the crude score of the best holes, not assessments of reserves. Yes that can be foolish. But I bet it isn't in this case. 475 grams per ton... kind of focuses the mind. I leave it to Glencar management to be so conservative as to exclude that gold from the average grams per ton over 20 meters.
"You are mistaken in thinking that EET is doing "confirmation drilling of already-known assets" at Diba in Mali.
The recent NR announced results for the first two drill holes in this property and those were shallow RAB holes that ended in mineralisation at 60m depth. A diamond drill that can recover full core to 200m depth is on its way to the property.
We will talk later...
W~"
OK. I like Etruscan. I just liked Glencar better, and went to trouble (right after a haemorrhagic stroke) to buy some.
FL
Test: Before
rubadubdub
rubadubdub
Glencar (GEX London), not Glencairn (GGG.TO). But yes, I was comparing the reactions to the drilling results, not claiming that Glencar is (yet) worth more than Etruscan as an entire company.
(Note: There's a somewhat worthless Glencar entry on the Pink Sheets as "GCMXF" with no volume, no bid and no ask. You really have to buy it in London. If you're Irish you could buy it on the Irish Stock Exchange, I guess.
It's DE:878534 in Frankfurt and DE:A0ET21 in Berlin-Bremen, but I don't know what the Glencar stock volume's like in Deutschland.)
FL
Compare: GEX:20m@55.19g/t =1103.8. while EET:51m@11.8g/t =601.8 as "crude drilling scores". A crude drilling score (m x g/t) over 100 is "very good". Both are excellent, but Glencar is almost double, and it was only at its "wildcat" stage whereas Etruscan's is a confirmation drilling of already-known assets.
In US$, Glencar's market cap is only US$47m to Etruscan's US$342.8m. (In their native currencies, approximately, Glencar's market cap is L25.7m, Etruscan's is C$381m.)
Whatever EET stock is doing, GEX stock should be doing a lot more. Instead of the current "nothing". Mind you, I currently own some GEX and not EET.
FL
EET gapped up again, this time 14.9% The stock has doubled during this run.
FL
Glencar stock (GEX in London) is too quiet! (note: on Bigcharts, the symbol is UK:GEX)
The biggest wildcat discovery of gold in recent West African history was the Glencar bonanza find in Mali. It's still "unsung", maybe because Glencar is still an obscure Irish junior gold explorer trading in London and Dublin with no American or Canadian stock listing. But the gold is there, and Glencar's got it. (It also has a very nice gold operation on it's Ghana property split off from Moydow's, but it's not quite the stunner that Glencar found in Mali.)
It's one thing for interest in the stock to dry up during the big gold correction -- that's fine. But when the gold train is moving again, the upside leverage on Glencar stock should be very high.
I have some Glencar stock, but due to a stupid arithmetic error (I mistakenly thought Glencar was quoted in pounds rather than pence when I bought), I missed literally 99% of the first up-leg. I was in on the second and third, and the down-leg that wiped out the third.
There's been no news. The Glencar stock price now has been idling on low volume doing nothing even as the gold price has taken off again. How fast they forget.... If gold prices rise, Glencar stock "should" explode again.
(By rise in the gold price, I mean rise in pounds and euros, not just in collapsing dollars.)
Should, ... but what do I know?
FL
Crew Gold buys GOVERNMENT's share of Guinea mine
[ Has this ever been done before? Cash and shares. Now the Guinea government is a Crew shareholder, but apparently has no other future beneficial interest, officially, in the mine. Will officials in other countries be inspired to demand handovers of cash now? Is this transaction wise for Crew? Wise for the Guinea public? ]
JULY 3, 2006 - 10:45 ET
Crew Signs Agreement With The Government of Guinea to Acquire The Remaining 15% of SMD
LONDON, UNITED KINGDOM--(CCNMatthews - July 3, 2006) - Crew Gold Corporation ("Crew" or the "Company")(TSX:CRU)(OSE:CRU)(FWB:KNC)(OTCBB:CRUGF):
Crew is pleased to announce that an agreement has been signed between Crew and the Government Of Guinea whereby Crew will acquire the Government of Guinea's 15% stake in SMD for a total consideration of USD 30 million, consisting of 15 million USD cash and 15 million USD worth of Crew Gold shares. Crew welcomes The Republic of Guinea as a major share holder of Crew.
President and CEO of Crew Gold Corp Jan Vestrum states:
"This transaction underpins, and further strengthens; SMD's/Crew's more than 10 year presence in Guinea and describes the excellent relationship between the local operation and the government. We believe the Lefa project, estimated to commission its new CIP plant towards the end of 2006, represent major value for Crew. Possibly as important longer term the remaining part of the concession seem to carry substantial further upside. Crew will continue to allocate considerable resources to its operation in Guinea."
The Minister of State, Minister of Economy and Finance, Hon Mr. Madikaba Camara and the Minister of Mines and Geology, Hon Dr. Cusmane Sylla states:
"We are very pleased to see Crew continue investing in Guinea and believe this transaction confirms Guinea as an attractive country for investments in the mining industry. Through its investment in Crew Gold Corp the Republic of Guinea will, as a major share holder in Crew, continue to participate in the development of the country's natural resources industry."
Jan A Vestrum
President & CEO
Safe Harbour Statement [ omitted ]
Two more musings -- on RSG and AVK
I'm looking at Avnel (AVK.TO) but the volume is too low, -- it seems too hard to get out (and to get in, since it refused to meet my humble ASK). The deep mine was already there in Mali, courtesy of the USSR. Good grades are being found and mined. For some reason the Avnel warrant seems to have a following, maybe more (volume) than the stock itself.
I put a little too much into Searchgold (RSG.V) (before it plummeted). Now, shall I "average down" and get more (THE great error in trading stocks) ????
You're in OLE deeper than I am. It's my smallest valued holding (unless you consider zero -- my defunct Akrokeri-Ashanti stock in Ghana -- a value). I consider Senegal very stable, more so than almost all other countries in Africa, but I haven't been there in a while so my view may be out of date.
Note: I buy stocks hoping at least to quadruple or N-tuple over the longer term -- never to pick up a 20% profit on "the wiggles". I hate to sell so I mostly keep forever -- I must force myself to "lighten up" (sell a portion of a quadrupled stock) against my nature. I won't sell many golds until gold itself goes ballistic against the euro, which it hasn't.
Great Quest follows Mali women Orpailleurs to gold
GREAT QUEST METALS LTD.
Suite 515, 475 Howe Street
Vancouver, BC, Canada V6C 2B3 Tel: 604-689-2882 Website: www.greatquest.com
Fax: 604-684-5854 Email: info@greatquest.com
June 30, 2006
Great Quest Has Commenced an Exploration Survey in the Bourdala Area, a Site of Extensive Orpaillage
VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSX Venture Exchange: GQ), is pleased to announce that an IP survey, as well as geological mapping and sampling programs are currently in progress on the Bourdala concessions in western Mali, West Africa. The IP survey will test known gold mineralization in the TD, Bourdala Sud Ouest and possibly the Nanike Sodjigui areas to trace the extension of zones intersected in drilling. In the Bourdala Sud Ouest area, Drill Hole 06-BR intersected 10 m of 3.92 g/t gold and 5 m of 8.63 g/t gold, while in the TD area, Drill Hole 02-TD, intersected 5.5 m of 2.91 g/t gold and 7.0 m of 4.24 g/t gold. Both holes were part of the Company’s 2003 drill program.
The TD concession has been a center of women’s orpaillage, or hand mining, over the last few months where over 1,500 women from the surrounding area have been mining gold in both alluvium, or stream deposited sediments, and eluvium, or highly weathered rock. The gold recovered ranges in size from fine to nuggets over 100 grams. The women do not dig pits, but they do work the upper 2 m of material over a selected area. The area affected by this activity measures up to 80 m wide and 300 m long. This area will be mapped, taking advantage of the new information that is available from the result of the orpaillage. Other areas to be mapped include parts of the Damba Massa, Blandinssou and Soumala concessions.
The Bourdala concessions occur about 46 km southeast of the Sadiola gold mine and within a 25 by 200 km belt where 5 gold deposits (4 mines) occur and, so far, over 30 million ounces of gold have been discovered. The recent, gold discovery by Etruscan Resources is located approximately 30 km northwest of the Bourdala concessions. Carl Verley (P. Geol.), the Qualified Person pursuant to NI 43-101, has reviewed the contents of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
“Willis W. Osborne”
Willis W. Osborne
President
Article's OT but has info on Mwana Africa and Cluff
Zimbabwe: Freda Rebecca Bags Cluff Mines
excerpt from Zimbabwe Independent (Harare)
June 30, 2006 -- Dumisani Ndlela
MWANA Africa has quietly bagged Cluff Mining (Zimbabwe) in its portfolio of growing mining assets in Zimbabwe, business digest established this week.
Mwana Africa recently acquired the entire share capital of Cluff on behalf of its subsidiary gold mining firm, Freda Rebecca Mine, from Cluff Gold Plc of the UK.
The deal has already been sealed, with requisite regulatory and exchange approval having been granted by Zimbabwean authorities.
Cluff Gold acquired Cluff Mining Zimbabwe from the Ridge Mining group last year as part of an option agreement with Ridge Mine.
Cluff Gold's finance director, Jamie Alpen, said they had not assigned any resource value to the Zimbabwe gold assets since acquiring them from Ridge Mine in January 2005.
The disposal of Cluff Mining Zimbabwe was in line with Cluff Gold's strategy to focus on opportunities in West Africa, Alpen said.
The recent acquisition of Cluff Mining adds to Mwana Africa's growth in Zimbabwe after its acquisition of Bindura Nickel Corporation from Anglo American Corporation and Freda Rebecca from Anglogold Ashanti, formed from the merger of Anglo Gold and Ashanti Goldfields.
Mwana Africa is owned by a consortium of African businessmen led by DRC-born Kaala Mpinga, who is based in South Africa.
The consortium includes one of Zimbabwe's wealthiest citizens, Oliver Chidawu.
Mwana Africa is still evaluating a huge but low-grade nickel deposit in Zimbabwe's Midlands province, where it envisages plans to inject huge sums of money in the development of an open cast mine at its Hunters' Road deposit.
Copyright © 2006 Zimbabwe Independent.
Explanation of action in Etruscan (EET.TO)
[ Well, SORT OF an explanation ... FL ]
Mali discovery helps Etruscan
Firm has several gold prospects in five West African countries
By BRUCE ERSKINE Business Reporter-- Halifax Chronicle Herald, June 30, 2006.
A recent announcement by Etruscan Resources Inc. of Windsor about a significant new gold discovery in Mali, West Africa, was behind a sudden jump in the company’s share price, says company vice-president Tony Hayes.
"It’s a slow-dawning process," he said in an interview Wednesday.
The Toronto Stock Exchange asked Etruscan on Wednesday to issue a statement on its stock price, which Mr. Hayes said jumped from $2.34 a share on the TSX Venture Exchange Monday night to $3.25 a share Tuesday.
Shares traded for $2.65 Wednesday.
The company said in its statement that "no undisclosed material changes in Etruscan’s operations, finances, management or strategies have occurred to cause significant short-term share price appreciation."
Mr. Hayes said such requests are made by the exchange when a stock price jumps by a certain percentage in a short time period.
He referred questions on the details of those provisions to the TSX, which did not return calls on the matter Wednesday.
On June 5, Etruscan issued a release saying it had made a significant discovery 15 kilometres south of the Sadiola gold mine in Mali. Etruscan COO Don Burton said in the release that the discovery was the most exciting prospect the company had found in 12 years of exploring in West Africa. Mr. Hayes, who noted that Etruscan stock jumped about 45 cents a share at the time of the June 5 announcement, said company officials have been providing details about the Mali find since then.
"It is a significant discovery and the more we tell, more people are realizing it is significant."
Mr. Hayes said sudden stock price swings aren’t unheard of, referring to the stock price of Aurelian Resources, a Toronto company exploring for gold, silver and base metals in Ecuador, which saw its share price jump from 80 cents in April to $23 in early June.
Aurelian stock traded for about $17.30 a share Wednesday.
Etruscan has interests in several gold prospects in five West African countries.
It is also involved in diamond mining in South Africa.
( berskine@herald.ca)
Explanation of (continuing) action in Etruscan (EET.TO) stock
Etruscan stock shot up 26.07% in one day, paused the next day, and was up 10.14% yesterday. A story with the the company comments is in the next message.
This story is from Halifax, Nova Scotia, where EET has its HQ.
EET stock has done pretty well this year. For a change, it has outperformed Semafo (SMF.TO), its partner in the Samira Hill mine in Niger.
Robex (RBX.V) action yesterday, on gold-pits hit:
Robex - Important gold discovery at Wili-Wili
MONTREAL, June 29 /CNW/ - Robex Resources Inc (TSX-V: RBX), Robex is proud to announce the discovery of high-grade gold values in 11 pits from the Fandou zone on its Wili-Wili permits, located at the southern extremity of West Mali. The pits are located in the northern centre of an important gold anomaly measuring 2.8 km in length over an average width of 600 metres.
RESULTS FROM THE PITS
When Robex acquired the Wili-Wili and the Wili-Wili West properties in 2005, Robex had announced that a pit dug by the PDRM (Mineral Research Bureau of the Malian Government) in 1996, on the border of the two properties, had returned the following results:
PDRM Pit (average grade of the pit: 13.24 g/t Au)
<<
-------------------------------------------------------------------------
Depth.
(m) 0-0,5 0,5-1,5 1,5-2,5 2,5-3,5 3,5-5,5
-------------------------------------------------------------------------
Grade
(g/t Au) 2.28 2.01 13.05 4.05 3.34
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Depth.
(m) 5,5-7,5 7,5-8,5 8,5-9,5 9,5-10,5 10,5-12
-------------------------------------------------------------------------
Grade
(g/t Au) 3.01 2.89 11.02 7.32 70.6
-------------------------------------------------------------------------
The exploration program carried out by Robex surrounding this pit and on other pits, over a perimeter covering approximately 200 metres by 100 metres at a depth varying between 4 and 11 metres, returned the following results:
PIT no 1 (average grade of the pit: 0.974 g/t Au)
-----------------------------------------------------------
Depth (m) 0-1 1-2 2-3 3-4 4-5 5-6
-----------------------------------------------------------
Grade (g/t Au) 1.64 2.22 0.72 0.78 0.27 0.22
-----------------------------------------------------------
Pit no 2 (average grade of the pit: 0.847 g/t Au)
-------------------------------------------------------------------------
Depth
(m) 0-1 1-2 2-3 3-4 4-5 5-6
-------------------------------------------------------------------------
Grade
(g/t Au) 1.57 1.30 1.04 0.70 0.74 0.87
-------------------------------------------------------------------------
---------------------------------------------------------------
Depth
(m) 6-7 7-8 8-9 9-10 10-11
---------------------------------------------------------------
Grade
(g/t Au) 0.72 0.33 0.47 0.38 1.22
---------------------------------------------------------------
Pit no 3 (average grade of the pit: 3.286 g/t Au)
-------------------------------------------------------------------------
Depth
(m) 0-1 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9
-------------------------------------------------------------------------
Grade
(g/t Au) 1.73 1.14 0.93 0.66 1.45 2.29 8.65 1.94 10.79
-------------------------------------------------------------------------
Pit no 4 (average grade of the pit: 5.893 g/t Au)
-------------------------------------------------------------------------
Depth
(m) 0-1 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9
-------------------------------------------------------------------------
Grade
(g/t Au) 4.00 3.34 4.48 2.86 17.60 11.60 1.86 2.27 5.045
-------------------------------------------------------------------------
Pit no 5 (average grade of the pit: 0.141 g/t Au)
-----------------------------------------------------------
Depth (m) 0-1 1-2 2-3 3-4 4-5 5-6
-----------------------------------------------------------
Grade (g/t Au) 0.42 0.21 0.57 0.44 0.69 0.41
-----------------------------------------------------------
Pit no 6 (average grade of the pit: 0.406 g/t Au)
---------------------------------------------
Depth (m) 0-1 1-2 2-3 3-4
---------------------------------------------
Grade (g/t Au) 0,80 0,27 0,34 0,22
---------------------------------------------
Pit no 7 (average grade of the pit: 2.284 g/t Au)
-----------------------------------------------------------
Depth (m) 0-1 1-2 2-3 3-4 4-5 5-6
-----------------------------------------------------------
Grade (g/t Au) 0.41 2.57 0.25 0.74 2.43 7.30
-----------------------------------------------------------
Pit no 8 (average grade of the pit: 0.548 g/t Au)
----------------------------------------------------
Depth (m) 0-1 1-2 2-3 3-4 4-5
----------------------------------------------------
Grade (g/t Au) 0.95 0.70 0.64 0.23 0.23
----------------------------------------------------
Pit no 9 (average grade of the pit: 0.632 g/t Au)
--------------------------------------
Depth (m) 0-1 1-2 2-3
--------------------------------------
Grade (g/t Au) 0.48 0.70 0.72
--------------------------------------
Pit no 10 (average grade of the pit: 3.294 g/t Au)
-------------------------------------------------------------------------
Depth
(m) 0-1 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9
-------------------------------------------------------------------------
Grade
(g/t Au) 1.08 0.53 2.10 1.99 2.11 4.62 5.94 3.19 8.09
-------------------------------------------------------------------------
Gold is hosted in highly sericitized and silicified sediments/epiclastics in zones of intense veining and stocks. Note that in pits 3, 4, 7 and 10 the grades improve with depth. The pits with the lowest grades are on the outskirts of the anomalous zone or are shallow. The location of the pits is shown on Robex's web site http://www.robexgold.com.
The samples come from in-place saprolitized rocks, and have been taken alongside the walls of the quartz veins and never from the actual veins themselves. That is probably the reason why the average grade of the pits sampled is lower than the average grade found in the pit dug by the PDRM. We believe that the PDRM mostly sampled quartz veins.
GEOCHEMICAL SURVEY
Robex performed a ground geochemical survey with a 200 m x 100 m grid over 8.8 km(2), that is a perimeter of 4.4 km North-South by 2.0 km East-West, including the zone of the pits. The 530 soil samples, weighing 2 to 3 kg each, were analyzed for gold and arsenic at the ABILAB Laboratory in Bamako.
The map on Robex's web site illustrates all the results detailed in this release. The well-defined gold anomaly is confirmed by the arsenic grades, with a maximum grade of 922 ppb Au. The anomaly is approximately 2.8 km in length by 600 m wide. The anomaly is oriented North-South and is very similar to two structure systems oriented NW and NNW, clearly visible on the regional MAG map.
The survey was located over partially uncovered areas of the concessions and known zones of artisanal gold digging. The area is essentially underlain by folded epiclastics, flyshic sediments and limited amounts of felsic to intermediate volcanic rocks. The surveyed area presents only very limited amounts of transported surface material and is quite well suited for systematic soil sampling.
The excellent grades from the pits confirm the PDRM grades mentioned above and also confirm the gold potential of the entire gold anomaly, which covers an area 80 times larger than the zone covered by the pits.
The soil geochemistry map for gold and arsenic indicates several more anomalous zones, some located at the extremity of the survey, grading up to 1796 ppb for gold and 1171 ppb for arsenic. An additional geochemical survey will most likely be carried out to define the extensions of these zones. A drilling program is planned for the next field season. Plans for this program include the digging of new wells and trenches on the most important anomaly and on secondary anomalies and an IP gradient survey to cover the geochemical surveyed area before initiating drilling.
The size of the anomaly and the indicated grades attest to the importance of the gold potential of the Fandou zone and of the Wili-Wili properties.
Robex Resources Inc TSX-V: RBX is a Canadian mining exploration and development company focusing on Mali, West Africa. Mali is currently the 4th most important gold producing country in Africa. Robex's permanent exploration office is located in Mali, and is operated by senior geologists with an extensive experience in West African mining exploration. The team works on projects the Company already owns and is always on the lookout for new projects with favourable geology and a high potential for the discovery of world-class gold deposits. This permanent presence in Mali has allowed Robex to become one of the most active exploration and development companies in West Africa. In 2005, Robex was the third most important mining company operating in Mali in terms of investment in exploration.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This Press Release and the within disclosure have been reviewed by Richard Savard, Geologist, President and CEO of Robex Resources Inc. and a Qualified Person in accordance with NI 43-101.
FOR THE BOARD
Richard Savard, Geologist, President and CEO
For further information: Visit the Robex web site www.robexgold.com or call Marcel Bédard, Chairman of the Board, Quebec, (418) 688-1035, marcel.bedard@mdcb.qc.ca; Richard Savard, President and CEO, Montreal, (514) 626-2124, ric.savard@videotron.ca; Stewart Robertson, Director, Trenton, Ontario, (613) 392-2646, stewrob@sympatico.ca; Luc Pelchat, Director, Monterey, Mexico, luc.pelchat@pelchatconsultores.com.mex; Raymond
Legault, Director, St Bruno, Quebec, (450) 653-8245, rzlegault@hotmail.com;
Serge Biron, Officer, VP and General Manager in Mali, Bamako, Mali, (223) 223-1828, serge.biron@sympatico.ca; André Vézina, VP Business Development, Quebec, (418) 670-1422, anvez@sympatico.ca; Christopher Zakak, Director, Boston, USA, czakak@projectsinternational.com; Henri Maire, Director, Westport, Ct, USA, hmaire@msn.com
Red Back (RBI.TO) 26m@13.23g/t gold, 56.14m@7.06, etc.
Red Back Reports Further High Grade Expansion at Akwaaba
Last Update: 9:00 AM ET Jun 29, 2006
VANCOUVER, BRITISH COLUMBIA, Jun 29, 2006 (CCNMatthews via COMTEX) -- Red Back Mining Inc. (the "Company" or "Red Back") (CA:RBI: news, chart, profile) is pleased to provide an update on recent results from the ongoing drilling program at Akwaaba, the southernmost planned open pit at the Chirano gold mine located in Ghana, Africa. A further 13 holes (4,576 metres) have now been completed of an expanded 9,000 metre drill program targeting a high grade, north plunging shoot below the Akwaaba pit.
Results are listed in the attached table and include results from the first two holes previously reported on April 19, 2006. Note that the upper part of the intercept in Hole CHRC734 was not released earlier, adding a further 23 metres grading 4.07g/t and giving a total intercept width of 53 metres in the heart of the high grade shoot.
All results are for core with the exception of CHRC737 to CHRC739. True width of mineralisation is approximately 60% of the drilled width.
These results are also shown on the attached long section for Akwaaba which clearly demonstrates the potential for a high grade underground mining operation. Drilling is continuing with two drills on site. A preliminary resource calculation is expected in late August.
Commenting on the results, Richard Clark, President and CEO of the Company stated, "Drilling at Akwaaba continues to intersect significant grades and widths expanding the potential of the deposit. The ongoing program will define the margins of the high grade shoot and continue to explore the depth potential of the mineralisation.
The success at Akwaaba supports a complete re-examination of the potential of Chirano. This re-examination has commenced and drill programs have been planned for each of the deposits (11) that currently comprise Chirano. We are very optimistic about the success of this planned drilling given the new understanding gained from our recent work at Akwaaba."
The technical contents of this release have been reviewed by Hugh Stuart, BSc., MSc, a Qualified Person pursuant to NI-43-101. Mr. Stuart is the Exploration Manager of the Company. Selected samples from this lab are check assayed each month. Samples are prepared and analyzed by fire assay using a 50 gram charge at the Analabs facility in Bibiani, Ghana in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month at other Analabs laboratories worldwide.
On behalf of the Board of Directors
Richard P. Clark, President
[ Forward looking statements notice omitted here. ]
Akwaaba Drill Results
--------------------------------------------------
Hole ID From To Metres Au g/t
--------------------------------------------------
CHRC733D(i) 269 279.2 10.20 7.54
--------------------------------------------------
CHRC733D(i) 298 324 26.00 13.23
--------------------------------------------------
CHRC734D(i) 390.89 393 2.11 18.21
--------------------------------------------------
CHRC734D 397 420 23.00 4.07
--------------------------------------------------
incl. 400.4 405 4.60 8.72
--------------------------------------------------
CHRC734D(i) 420 433 13.00 64.95
--------------------------------------------------
CHRC734D(i) 433 450 17.00 2.42
--------------------------------------------------
CHRC735D 267 270 3.00 1.00
--------------------------------------------------
CHRC736D 231 237 6.00 2.57
--------------------------------------------------
CHRC737 No Significant Intercept
--------------------------------------------------
CHRC738 41 44 3.00 1.12
--------------------------------------------------
CHRC738 61 65 4.00 1.67
--------------------------------------------------
CHRC739 37 42 5.00 1.75
--------------------------------------------------
CHRC740D 65 68 3.00 13.95
--------------------------------------------------
CHRC740D 74 79 5.00 2.32
--------------------------------------------------
CHRC741D 270 292 22.00 6.78
--------------------------------------------------
incl. 270 272 2.00 30.34
--------------------------------------------------
CHRC742D 150 154.2 4.20 2.78
--------------------------------------------------
CHRC742D 160 164 4.00 3.58
--------------------------------------------------
CHRC742D 174 192 18.00 3.90
--------------------------------------------------
CHRC743D 387 392.5 5.50 13.65
--------------------------------------------------
CHRC743D 399.6 405 5.40 8.34
--------------------------------------------------
CHRC743D 410 444.8 34.80 8.68
--------------------------------------------------
CHRC744D 439.86 496 56.14 7.06
--------------------------------------------------
incl. 457 467 10.00 14.97
--------------------------------------------------
CHRC745D 411 423 12.00 6.50
--------------------------------------------------
CHRC745D 450.5 479.9 29.40 5.46
--------------------------------------------------
incl. 465 472 7.00 12.87
--------------------------------------------------
CHRC746D 352 357 5.00 3.25
--------------------------------------------------
CHRC746D 360 383 23.00 2.15
--------------------------------------------------
CHRC747D 527 535 8.00 1.86
--------------------------------------------------
CHRC747D 538 560 22.00 2.42
--------------------------------------------------
(i)Previously reported
To view accompanying map, please click on the following link: http://www.ccnmatthews.com/docs/RBIMap0628.jpg
SOURCE: Red Back Mining Inc.
Red Back Mining Inc. Sophia Shane (604) 689-7842 www.redbackmining.com Copyright (C) 2006 CCNMatthews. All rights reserved. End of Story.
More action in Etruscan. EET was up 26.07% yesterday on moderate volume. I don't know of any particular reasons for it.
FL
The "Charts of All Stocks" link in the Header is revised and new.
It'll eventually get out-of-date again. It lacks charts of the London-traded stocks. Now we have Pink Sheet and Australian stocks included. Also, I'd prefer to use Bigcharts rather than Stockcharts, but I don't know how to include them in IH messages. Even for the ones now included, it took a long time of trial and error to figure out a way.
FL
CHARTS FOR ALMOST ALL WEST AFRICAN GOLD EXPLORERS:
The first groups are on the Toronto or Venture stock exchange, in Canadian dollars:
================================================
Companies exploring mostly in Mali
================================================
Companies exploring mostly in Ghana
(The following is GSC in Toronto in Canadian dollars, not GSS on the American Exchange)
================================================
Companies exploring mostly in Burkina Faso
================================================
Companies exploring mostly in Guinea
================================================
Companies exploring in other or several countries
(The following is IMG in Toronto in Canadian dollars, not IAG on the American Exchange)
================================================
================================================
Companies listed outside Canada (some links/charts may not work)
Randgold Resources (RRS in London, GOLD on the NASDAQ; the following is in US dollars) (Mali, Senegal)
Gold Fields (GFI on JSE and NYSE; the following is in US dollars) (Ghana, Burkina Faso)
London Exchange: http://www.londonstockexchange.com/en-gb/
Cluff Gold PLC (CLF on London AIM; in British pence) (Ghana)
Golden Prospect PLC (GOL on London AIM; in British pence) (Ghana)
Mwana Africa PLC (MWA on London AIM; in British pence) (Ghana)
Pan African Resources PLC (PAF on London AIM; in British pence) (Ghana)
AIM Resources Ltd. (AIMR on London AIM, AIM in Sydney) (Ghana)
Ofex Exchange: http://www.ofex.com/overview.shtml?ISIN=CA3608971022
Fundy Minerals Ltd. (FUN on the OFEX exchange in UK) (Liberia)
Glencar Mining PLC (Irish Stock Exchange, GEX on London AIM) (Ghana, Mali)
Irish Exchange: http://www.ise.ie
For Australian stocks, see http://www.asx.com:
(Ghana, Burkina Faso, Mali)
Pink Sheets Stocks (all with Ghana properties):
Centurion Gold Holdings (CGHI)
Columbia River Resources (CRVV)
General Metals Corp (GNLM)
Gold Coast Resources (GSRS)
Haber Systems (HABE)
Managem (MNG on the Casablanca Stock Exchange) (Morocco, Guinea, Niger, Burkina Faso, Ghana, Cote d'Ivoire)
Casablanca Exchange: http://www.casablanca-bourse.com/
================= E N D OF C H A R T S ================
Try Sydney ASX chart directly....
It worked!
Plain test of wide format (2nd try)
WEIRD!!!!! It allowed wide-format witout extras before, now it just displays standard-width (with undesired extras) Stockcharts. Don't know if this is InvestorsHub or Stockcharts doing this unwanted standardization.
I swear it worked a few minutes ago!
Try posting the "pre decoding" Stockcharts BHI without [ e ]
Now witht the [ e ] ([e])
Will it convert e ] to a > ?
Now try backslashing?????
Nope. Still can only use post-decoded version:
Is there a way to include BigCharts instead of StockCharts?
Bigcharts covers thousands of Canadian (Toronto and Venture), Pinksheets, London, Sydney etc. stocks that Stockcharts doesn't.
Stockcharts only sporadically has these, evidently only upon special request.
A test of stockcharts formats; I'm confused.
I want WIDE but short charts covering maximum time, with narrow bars. And two moving averages: 50-day and 200-day.
ATTEMPT ONE (a NYSE STOCK, BAKER HUGHES):
>
ATTEMPT TWO (TORONTO EXCHANGE):
Now will see if either of these work.
ATTEMPT THREE (BAKER HUGHES, A DIFFERENT WAY):
ATTEMPT FOUR (PINKSHEETS):
ATTEMPT FIVE (A MORE ACTIVE PINKSHHETS, NINTENDO):
ATTEMPT SIX (LONDON AIM):
ATTEMPT SEVEN (ANOTHER PINKSHEETS):
Does the OLE chart look "good" or "bad" to you? I just bought some today.
On Nevsun's (NSU.TO) Tabakoto gold mine in Mali
[ Nice to see some Mali instead of Eritrea publicity. FL ]
from Mining Weekly, 22 June 2006:
Tabakoto mine
TabakotoName: Tabakoto mine.
Location: Tabakoto mine is located in the Kenieba district, western Mali.
Brief history: Tabakoto was discovered in the mid-1990s during exploration activity. Feasibility work led to a production decision in 1993, with commercial production only beginning in June 2006.
Brief description: The mine encompasses both the Tabakoto mine and Segala mine, which is located within trucking distance to Tabakoto. The mines will produce about 100 000 oz of gold for about nine years: five years production life for Tabakoto followed by an additional 4 years of mining from the Segala openpit.
Products: Gold.
Mining method: Openpit.
Reserves: Total reserves for Tabakoto are 568 000 oz of gold. Total reserves for Segala are 381 000 oz of gold.
Resources: Total approximate resources are 1,5-million ounces of gold.
Geology: The Tabakoto deposit is situated in the Birimian greenstone belt. The high-grade shear zone hosts a gold deposit associated with dykes and intrusive rocks.
Major infrastructure and equipment: Current mine infra-structure consists of a three-stage crushing plant with a ball mill and carbon-in-leach (CIL) circuit, which is designed to treat 650 000 t of ore per year.
Prospects: The gold mineralisation at Tabakoto extends to depth and along strike of the deposit with regional exploration capability. Underground prefeasibility was conducted in 2000 to investigate the potential for future underground mining below the Tabakoto openpit. There are plans to re-evaluate the underground potential at Tabakoto later in 2006.
Controlling company: Nevsun Resources Ltd (100%).
Contact person: John Clarke, president and CEO.
Contact details:
Nevsun Resources Tel: (604) 623-4700 Fax: (604) 623 4701 Website: www.nevsun.com
Oromin (OLE.V) found 65m@7.83g/ton, 17m@24.09, earlier: 25m@12.35. Good.
Also, Senegal's a good country. Price pattern during downdraft has been OK. I think I'll get some OLE. But when? FL
Oromin Explorations Ltd.: Additional Drilling Success at Sabodala
Monday June 19, 10:45 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 19, 2006 -- Oromin Explorations Ltd. (TSX VENTURE:OLE.V - News)(Other OTC:OLEPF.PK - News) -
- HOLE DH 17 AT GOLOUMA WEST INTERSECTS 65 METRES GRADING 7.83 G/T GOLD
- EXCAVATOR TRENCH TR-62 AT GOLOUMA WEST RETURNS 17 METRES GRADING 24.09 G/T GOLD
Oromin Explorations Ltd. is pleased to report the results from an additional seven drill holes on its Sabodala Property in eastern Senegal. Oromin has now completed twenty-two drill holes on its priority target areas and has results for nineteen drill holes, twelve of which have previously been announced. The attached map and Oromin's website shows the location of the drill holes and trenches.
The latest drilling continues to expand the mineralized zones at Golouma West and Golouma South. Work is continuing at the Niakafiri South area, the Masato area and three zones within the broad Golouma gold geochemical anomaly.
The focus of Oromin's exploration at Sabodala is to find and delineate all gold deposits within the 230 square kilometre Sabodala exploration concession. Exploration will continue through the rainy season to expedite its property-wide evaluation. Oromin plans to utilize two core rigs on all currently known mineralized zones and new discoveries over the summer months and plans to begin detailed grid-based reverse circulation drilling to further delineate and define each deposit.
The new results outlined in the following tables include four holes from Golouma West, where drilling continues, and three holes from Golouma South. In addition, results from a series of recently completed excavator trenches at the Golouma West target area are also set out below.
Golouma West
Drill Hole
(DH)
or Trench Grid Azimuth/ From - To Interval Gold
(TR) Co-ordinates Dip (m) (m) (g/t)
--------------------------------------------------------------------
DH-16 3550N/4680E 030 degrees/ 48.0-66.0 18.0 2.84
-45 degrees
incl. 51.0-57.0 6.0 5.93
80.0-90.0 10.0 3.50
DH-17 3550N/4680E 030 degrees/ 67.0-132.0 65.0 7.83
-65 degrees
incl. 67.0-76.0 9.0 2.65
and 96.0-108.0 12.0 3.79
and 118.0-121.0 3.0 2.73
and 125.0-132.0 (i)7.0 60.73
DH-18 3550N/4705E 030 degrees/ 84.0-88.0 4.0 3.42
-45 degrees
DH-19 3550N/4705E 030 degrees/ 110.0-112.0 2.0 1.77
-65 degrees 115.0-121.0 6.0 1.38
131.0-133.0 2.0 2.48
TR-56 3532N/4722E 020 degrees 34.0-38.0 4.0 2.08
TR-57 3589N/4598E 360 degrees 29.0-41.0 12.0 7.67
incl. 31.0-32.0 1.0 82.8
TR-58 3487N/4785E 040 degrees 11.0-15.0 4.0 1.26
TR-59 3389N/4854E 025 degrees 6.0-12.0 6.0 16.62
incl. 11.0-12.0 1.0 66.2
TR-60 3357N/4922E 025 degrees (ii)7.0-10.0 3.0+ 6.22
TR-61 3589N/4801E 030 degrees 39.0-53.0 14.0 2.30
TR-62 3621N/4537E 005 degrees 20.0-37.0 17.0 24.09
incl. 32.0-33.0 1.0 364.7
TR-65 3603N/4433E 355 degrees 31.0-42.0 11.0 2.42
(i) Four adjacent one metre samples within this interval were
analysed by the total gold-metallic screen method. Because of the
presence of visible gold within the core, these samples were
selected for analysis by this method, which is more accurate in
such circumstances.
(ii) A 2.0 metre wide artisanal mining pit lies adjacent to the 3.0
metre minimum sampling width reported here.
Trenching and drilling have now confirmed gold mineralization at Golouma West along a minimum strike extent of 750 metres within a NW-SE trending soil anomaly traceable for over 1,000 metres within the much broader Golouma gold anomaly. Drill results display excellent correlation to a minimum vertical depth of 125 metres. Reported core intervals are not true widths. Oromin is planning additional excavator trenching and drilling along the mineralized trend both to the NW, SE and down-dip of the holes drilled to date.
Golouma South
Drill Hole
(DH)
or Trench Grid Azimuth/ From - To Interval Gold
(TR) Co-ordinates Dip (m) (m) (g/t)
--------------------------------------------------------------------
DH-13 3057N/5138E 110 degrees/ 57.0-60.0 3.0 2.90
-45 degrees
87.0-90.0 3.0 1.19
DH-14 3005N/5124E 110 degrees/ 44.0-61.0 17.0 7.06
-45 degrees
incl. 47.0-53.0 6.0 16.37
and 52.0-53.0 1.0 56.55
DH-15 3005N/5124E 110 degrees/ 62.0-70.0 8.0 6.53
-70 degrees
80.0-82.0 2.0 2.06
Trenching and drilling have confirmed gold mineralization at Golouma South along a minimum strike extent of 200 metres within a NE-SW trending soil anomaly traceable for over 3,000 metres within the much broader Golouma gold anomaly. Drill results display excellent correlation to a minimum vertical depth of 100 metres. Reported core intervals are not true widths. Oromin is planning additional excavator trenching and drilling along the mineralized trend both to the NE, SW and down-dip of the holes drilled to date.
Previous Results
Since the commencement of Oromin's USD$8 million comprehensive exploration program at Sabodala, a huge amount of geochemical, geophysical, rock and drill core data has been collected with very encouraging results. In excess of thirty new prospecting discoveries have been identified throughout the Sabodala exploration concession with a distance of 17.0 kilometres between the northernmost and southernmost. Through trenching and drilling, Oromin has discovered two new gold zones (Golouma West and Golouma South), has confirmed and expanded the previously known Masato Deposit and has discovered and expanded the southern extension of the Niakafiri Deposit located on the adjacent property of Mineral Deposits Limited. Oromin will continue its ongoing exploration through the rainy season to expedite its property-wide evaluation of the Sabodala exploration concession.
The following tables summarise some of the previously announced results from Golouma West and Golouma South. The attached map shows the general location of these drill holes.
Golouma West
Drill Hole
(DH)
or Trench Grid Azimuth/ From - To Interval Gold
(TR) Co-ordinates Dip (m) (m) (g/t)
--------------------------------------------------------------------
DH-01 3616N/4569E 010 degrees/ 18.0 - 29.0 11.0 2.77
-45 degrees
incl. 23.0 - 26.0 3.0 4.71
41.0 - 43.0 2.0 3.03
DH-02 3590N/4576E 010 degrees/ 21.0 - 24.0 3.0 9.43
-45 degrees
41.0 - 43.0 2.0 2.49
TR-02 3636N/4673E 180 degrees 39.0-59.0 20.0 1.73
TR-04 3670N/4566E 185 degrees 19.0-35.0 16.0 7.08
TR-30 3787N/4467E 090 degrees 1.0 - 32.0 31.0 1.93
incl. 1.0 - 17.0 16.0 3.52
Golouma South
Drill Hole
(DH)
or Trench Grid Azimuth/ From - To Interval Gold
(TR) Co-ordinates Dip (m) (m) (g/t)
--------------------------------------------------------------------
DH-03 3016N/5161E 110 degrees/ 0-30.0 30.0 2.42
-45 degrees
incl. 11.0-26.0 15.0 4.55
incl. 15.0-19.0 4.0 14.02
DH-11 3035N/5130E 110 degrees/ 40.0-63.0 23.0 6.64
-45 degrees
incl. 40.0-48.0 8.0 11.75
and 55.0-58.0 3.0 17.23
76.0-77.0 1.0 4.36
DH-12 3035N/5130E 110 degrees/ 45.0-58.0 13.0 2.84
-70 degrees
incl. 53.0-57.0 4.0 4.81
79.0-87.0 8.0 1.30
TR-18 3012N/5144E 110 degrees 12.0-37.0 25.0 12.35
TR-20 3085N/5192E 130 degrees 8.0-15.0 7.0 1.19
TR-49 3026N/5204E 315 degrees 12.0-24.0 12.0 3.60
incl. 17.0-22.0 5.0 7.90
TR-51 2989N/5135E 110 degrees 33.0-42.0 9.0 35.29
incl. 39.0-40.0 1.0 283.4
All fieldwork was carried out under the supervision of Gerald McArthur P. Geol., a "qualified person" for the purposes of National Instrument 43-101, who has also verified the data disclosed in this news release. TSL Laboratories in Saskatoon, Saskatchewan carried out all assaying.
To find out more about Oromin Explorations Ltd. (TSX VENTURE:OLE.V - News), visit www.oromin.com.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
NOTE: To view the map associated with this release, please click the following link: http://www.ccnmatthews.com/docs/ole0619.pdf
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
Contact:
Contacts:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772
(604) 331-8773 (FAX)
info@oromin.com
http://www.oromin.com
Source: Oromin Explorations Ltd.
High River halted. (Guess: good or bad? Good.)
High River Gold Mines halted at 9:13 a.m. PT
2006-06-21 12:14 ET - Halt Trading
That's 12:13 Pacific Time. Latest trades Eastern time, TSX says:
Last Trade: 21 Jun 2006 12:03 EDT
Price 2.000 Net
Change +0.050
Last
Bid Size 0 Volume 83,900
Last
Bid Price 0.000 Open 1.940
Last
Ask Price 0.000 High 2.000
Last
Ask Size 0 Low 1.940
Last Ten Trades
Time Price Shares $ Change Buyer Seller
12:03 2.000 2,000 +0.050 Fraser Mackenzie Raymond James
12:03 1.990 1,800 +0.040 Fraser Mackenzie RBC
12:03 1.990 6,400 +0.040 Fraser Mackenzie TD Securities
11:35 1.990 5,000 +0.040 Sprott Hampton
11:08 1.990 5,000 +0.040 Sprott Hampton
10:32 1.990 2,000 +0.040 Sprott RBC
10:32 1.990 1,000 +0.040 Sprott Anonymous
10:30 1.950 25,000 +0.000 BMO Nesbitt BMO Nesbitt
10:25 1.950 9,500 +0.000 Paradigm BMO Nesbitt
10:25 1.950 400 +0.000 Paradigm RBC
also
List of Halted Securities for Toronto Stock Exchange
Last Updated*: 21 Jun 2006 13:04 EST
*Note: Between 9:00 a.m. and 7:30 p.m. ET and on days that Toronto Stock Exchange is open, the information on this list will be updated approximately once every minute.
Company Name Symbol
High River Gold Mines Ltd. HRG
It's now about 1:22 Eastern time. No news on company web-page since May 31.
Newmont Ghana to pour first gold July 4th
Newmont To Pour First Gold On July 04
12-Jun-06 ---- GhanaNewsToday
Newmont Gold Ghana Limited has said it would pour its first gold on July 04 and has spent 15 million dollars on compensation for 3,000 farmers at the Ahafo Project site.
Mr Randy Barnes, External Affairs Manager of the company, said the company had built 399 houses at Ntotroso and Kenyasi for the affected people.
He said this when the company took journalists on a two-day tour of its Ahafo Project site.
Mrs Carmen Letton, the Chief Mining Engineer, Mr Isaac Ofosu Kwabe, General Foreman and Ms Mawuena Dumor, Communications Manager, led the journalists to tour the Apensu and Subika pits, the truck simulator, plant site, gold house and environmental control dams.
Other areas were the water storage facility, tailings storage, as well as reclamation and resettlement sites.
Mr Barnes said Newmont was committed to helping to improve the livelihood of communities affected by its operations and had provided skill training to about 2,500 youth.
He said the construction phase of the project cost 475.