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CMA.V moving today on high volume ... fwiw eom
re: REE's heating up, check Ucore UCU.V as well,
businessweek coverage ...
http://www.businessweek.com/magazine/alaskas-billion-dollar-mountain-10272011.html
APE.V Apogee silver 2X previous indicated resources
Oct 19 (Reuters) - Canadian junior explorer Apogee Silver
Ltd <APE.V> said indicated silver resources at its Pulacayo
Deposit in southwestern Bolivia more than doubled.
South America-focused Apogee, which is also exploring the
Cachinal silver property in northern Chile, said the Pulacayo
silver-lead-zinc deposit has 29.34 million ounces of indicated
silver resources and 26.24 million ounces of inferred silver
resources.
The preliminary assessment also showed 268.05 million pounds
of indicated zinc resource and 119.57 million pounds of
indicated lead resources, the company said in a statement.
"We are particularly pleased with the significant increase
in silver ounces in the indicated category, upon which we are
able to continue with the feasibility work for a mine that is
now likely to be substantially larger than what has been
previously projected," Chief Executive Neil Ringdahl said.
The Pulacayo deposit remains open for further extension, the
company said, adding that the deposit was the second largest
silver mine in the history of Bolivia, with over 600 million
ounces past production.
Shares of the Toronto, Ontario-based company closed at 15
Canadian cents on Tuesday on the Toronto Venture Exchange.
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Sriraj Kalluvila)
((bhaswati.mukho@thomsonreuter.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5820;
Reuters Messaging: bhaswati.mukho.reuters.com@reuters.net))
WS.V Wildcat announces additional drill results including 483.2 g/t silver over 22.9 metres
Canada NewsWire
VANCOUVER, Sept. 27, 2011 /CNW/ - Wildcat Silver Corporation (TSX: WS) ("Wildcat" or "the Company") is pleased to announce the results for four additional holes completed on the Company's Hermosa property located in Santa Cruz County, Arizona. Results continue to indicate that mineralization remains open beyond the current drilling.
Highlights:
HDS-192, located in an area of shallow drilling within the resource area, encountered two zones of significant silver, manganese and base metals mineralization. The upper zone averaged 483.2 g/t silver, 15.5% manganese, 2.5% zinc, 2.8% lead and 0.2% copper over 22.9 metres. The lower zone averaged 138.5 g/t silver, 12.3% manganese, 3.3% zinc, 1.1% lead and 0.1% copper over 4.6 metres.
HDS-189, located on the east side of the current Hermosa resource, encountered four distinct zones of silver mineralization. Most notable were the two middle intervals which intersected significant silver, manganese and base metals. The lower of these two zones intersected 19.8 metres averaging 433.6 g/t silver; 4.98% manganese, 1.93% zinc, 1.23% lead and 0.24% copper. The upper most of these two intervals returned 47.3 metres of 246.6 g/t silver, 7.44% manganese, 0.65% zinc, 1.27% lead and 0.11% copper.
HDS-190, located in an area of sparse drilling within the resource area, encountered two zones of silver mineralization with significant manganese mineralization. Of significance, the upper zone intersected 25.9 metres of 79.0 g/t silver and 17.8% manganese and the lower zone encountered 39.6 metres of 15.4% manganese.
HDS-173 is the most northeastern drill hole to-date testing the extension of the Hermosa mineralization. This drill hole also encountered two zones of silver mineralization with the upper zone returning 89.3 g/t silver over 16.8 metres.
The Company continues to drill with five rigs on the Hermosa property and remains focused on expanding the size and upgrading the quality of the current resource. An update to the existing Hermosa resource and preliminary economic assessment is expected to be released in the fourth quarter of 2011. Wildcat's current cash position remains strong and the Company expects it will be sufficient to fund its planned activities through 2012.
A summary of the drill results are provided below. Please also see attached map. http://files.newswire.ca/918/HermosaDHMap_9_27_2011.pdf
WS.V VANCOUVER, Sept. 8, 2011 /CNW/ - Wildcat Silver Corporation (TSX: WS) ("Wildcat" or "the Company") is pleased to announce the results for eight additional holes completed on the Company's Hermosa property located in Santa Cruz County, Arizona. Results continue to indicate that mineralization remains open beyond the current drilling.
The Company has completed 100 holes accounting for approximately 28,000 metres of the total 30,000 metres originally planned, and is continuing to drill. Five drill rigs are currently progressing exploration at Hermosa, focusing on expanding the size and upgrading the quality of the current resource. An update to the existing Hermosa resource and preliminary economic assessment is expected to be released in the fourth quarter of 2011.
Highlights:
Drill hole HDS-176, located on the eastern edge of the Wildcat patented claim block, intersected four zones of significant mineralization and indicates that the Hermosa mineralization remains open to the east onto our unpatented mineral claims. Of note, the two mid-intervals were located within the manto and returned 33.5 metres of 230.9 g/t silver, 4.18% manganese, 0.13% zinc, 2.34% lead and 0.20% copper and 18.3 metres of 156.8 g/t silver, 7.79% manganese, 2.6% zinc, 3.76% lead and 0.22% copper.
Drill hole HDS-160, located approximately 125 metres north of HDS-176, also encountered the manto and returned significant manganese and base metal mineralization. This drill hole intersected 25.5 metres 20.58% manganese, 3.35% zinc and 1.01% lead.
Drill hole HDS-168, located on the western edge of the Hermosa patented claim block, intersected three intervals of significant silver and base metal mineralization. The upper zone averaged 147.4 g/t silver over 12.2 metres, the middle interval averaged 109.4 g/t silver, 11.19% manganese, 1.16% zinc and 0.29% lead over 3 metres and the lower zone averaged 89.0 g/t silver, 8.80% manganese, 2.43% zinc and 0.12% lead over 3 metres.
Located in the southeast corner of the patented claim block, HDS-169 intersected two significant intervals of mineralization indicating the resource remains open to the southeast onto our unpatented claims. The upper interval encountered 13.7 metres of 183.6 g/t silver and the lower mineralized zone intersected 9.1 metres of 145.6 g/t silver, 5.91% manganese, 0.77% zinc and 0.63% lead.
Three holes, HDS-167, HDS-170 and HDS-172, were drilled on the southwestern boundary of the patented claim block and returned significant manganese mineralization. Drill intercepts in these holes indicate clearly that the Hermosa mineralization continues to the southwest. Most notably HDS-172 intersected 13.7 metres of 114.5 g/t silver, 4.59% manganese, 0.36% zinc and 0.17% lead.
A summary of the drill results are provided below. Please also see attached map - http://files.newswire.ca/918/HermosaplannedDH.pdf.
Hole From
(metres) To
(metres) Interval
(metres) Ag
(g/t) Mn
% Zn
% Pb
% Cu
%
HDS-160 209.3 234.8 25.5 28.7 20.58 3.35 1.01 0.04
HDS-166 324.7 347.6 22.9 9.9 8.53 2.50 0.41 0.02
HDS-167 100.6 105.2 4.6 45.1 3.07 0.30 0.21 0.01
HDS-168 147.9 160.1 12.2 147.4 0.03 0.04 0.92 0.05
175.3 178.4 3.0 109.4 11.19 1.16 0.29 0.04
210.4 213.4 3.0 89.0 8.80 2.43 0.12 0.02
HDS-169 24.4 38.1 13.7 183.6 1.39 0.07 0.16 0.02
175.3 184.5 9.1 145.6 5.91 0.77 0.63 0.09
HDS-170 106.7 109.8 3.0 70.11 4.02 0.25 0.41 0.02
HDS-172 108.2 122.0 13.7 114.5 4.59 0.36 0.17 0.02
HDS-176 53.4 73.2 19.8 65.9 0.13 0.02 0.15 0.02
125.0 158.5 33.5 230.9 4.18 0.13 2.34 0.20
214.9 233.2 18.3 156.8 7.79 2.60 3.76 0.22
240.9 247.0 6.1 72.9 2.30 0.16 1.25 0.10
Note: Intervals reported are drill thicknesses as measured along the core axis and are not true widths
A complete list of all drill intercepts, location map and 3D model of the Hermosa mineralization are available on the company's website at www.wildcatsilver.com.
Qualified Person
The results of Wildcat's drilling results have been reviewed, verified and compiled by Don Taylor, MSc., PG, vice president of exploration for Wildcat Silver, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a Registered Professional Geologist through the SME. Mr. Taylor is also a Licensed Professional Geologist in several US states.
Assays and Quality Assurance/Quality Control
To ensure reliable sample results, Wildcat has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at Skyline Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. Skyline Laboratories prepares two pulps of all samples and completes analysis of one pulp sample by ICP for Cu% (copper), Pb% (lead), Zn% (zinc) and Mn% (manganese). The second pulp is shipped to Inspectorate Labs, an ISO: 9001-2008 accredited laboratory in Reno, Nevada, where the duplicate pulp is analyzed for Au (gold) and Ag (silver). Silver values are determined by fire assay (1 AT) with an AA finish. For all samples that assay greater than 200 ppm Ag, the sample is re-run using fire assay (1 AT) with a gravimetric finish. In certain holes Skyline also completes analysis of the pulps for Au (FA/AAS) and Ag by (Aqua Regia digestion and AA finish). If over 150 g/t, all Silver assays are redone using FA/Grav finish at 1AT.
About Wildcat
Wildcat is a Canadian mineral exploration company focused on development of Hermosa, its 80% owned silver project located in Santa Cruz County, Arizona. The project currently has an indicated mineral resource of 6.0 million tonnes averaging 187.8 grams per tonne silver for a total of 36 million ounces of silver in addition to an inferred mineral resource of 46.3 million tonnes averaging 58.6 grams per tonne silver for a total of 85 million ounces of silver as announced April 20, 2010. The Company's October 2010 updated preliminary economic assessment contemplates an 18 year mine life with expected annual production in excess of 6 million ounces of silver for the first full five years of production.
Cream Minerals Reports Drill Results for the Veta Tomas Zone, Nuevo Milenio Silver-Gold Project, Mexico
VANCOUVER, BRITISH COLUMBIA, Sep 08, 2011 (MARKETWIRE via COMTEX News Network) --
Cream Minerals Ltd. (TSX VENTURE: CMA)(OTCBB: CRMXF)(FRANKFURT: DFL) ("Cream" or the "Company") is pleased to provide results of in-fill drilling for the Veta Tomas zone, one of three higher grade silver and gold in quartz veins. The in-fill drilling of the Veta Tomas zone is one aspect of the 20,000 metre diamond drill program currently in progress at the 100% owned Nuevo Milenio Silver-Gold Project, Nayarit State, Mexico. Nuevo Milenio is a low sulphidation, epithermal precious metal prospect containing silver-gold mineralization in quartz vein quartz stock work zones hosted within a collapsed caldera. Two drill rigs are drilling at Nuevo Milenio with the objective of completing in-fill drilling and testing additional targets. To date approximately 18,500 metres of drilling in 77 drill holes has been completed.
Results for eight in-fill drill holes on the Veta Tomas zone are presented below. These results should be viewed in combination with seven previously released assays (see Cream news release June 6, 2011 at the following link: http://www.creamminerals.com/s/NewsReleases.asp?ReportID=460829&_Type=News-Releases&_Title=Cream-Minerals-Reports-Assay-Results-For-The-Nuevo-Milenio-Silver-Gold-Proj) to obtain a better understanding of the Veta Tomas zone. The objective of the in-fill drilling on Veta Tomas is to confirm grade, width and continuity of the structure. To date drilling has confirmed continuity and stacking of the structure. Results compare well with the current geological interpretation. (Please visit the following link to view a drill map: http://media3.marketwire.com/docs/cma908i.jpg.)
Nuevo Mileno contains a NI 43-101 compliant Inferred Mineral Resource of 54.6 million ounces silver equivalent at an average grade of 251 g/t silver and 1.660 g/t gold. Prices at the time of the report were USD$10.28 silver and USD$816.09 gold. For complete details of the Inferred Mineral Resource see Table - Revised NI 43-101 Report, dated December 24, 2008 in this news release.
Highlights of the Drill Results
Highlights include significant drill intersections (intersections are drill widths, true widths are 50% to 70% of drill intersected width depending on drill inclination).
VT 10 - 11
172.10 g/t Ag and 0.489 g/t Au over 9.53 metres including 183.47g/t Ag and 0.545 g/t Au over 5.53 metres and 375.80 g/t Ag and 0.953 g/t Au over 1.53 metres.
VT 12 - 11
105.39 g/t Ag and 0.824 g/t Au over 7.26 metres, including 126.98 g/t Ag and 1.009 g/t Au over 5.62 metres, 194.70 g/t Ag and 1.332 g/t Au over 3.62 metres and 335.90 g/t Ag and 1.714 g/t Au over 1.50 metres.
VT 15 - 11
157.60 g/t Ag and 0.483 g/t Au over 6.00 metres including 215.80 g/t Ag and 0.386 g/t Au over 2.00 metres, and 153.66 g/t Ag and 0.813 g/t Au over 2.00 metres.
ASSAY RESULTS
Below are sections 13 to 17 showing all assay data received to date.
SECTION 14b
This section was originally intended to be drilled 25 metres to the SW from the setup of DDH 07 - 24 however there was insufficient space for a drill pad. VT 03 - 11, (see Cream news release June 6, 2011), VT 12 - 11 and VT 15 - 11 are in-fill drill holes that were drilled to obtain information within the vertical section. Three zones were intercepted identifying stacked sections created by repetition of the structure through faulting. The assays for zones two and three were low in value.
-----------------------------------------------------------------------
-----
Description Sample From To Width Ag Au
VT 12-11 Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Zone 1
----------------------------------------------------------------------------
Weighted average 52784-800 47.26 76.52 33.26 44.43 0.262
----------------------------------------------------------------------------
including 52789-97 57.26 74.52 17.26 72.38 0.378
----------------------------------------------------------------------------
including 52791-97 61.26 74.52 13.26 74.90 0.441
----------------------------------------------------------------------------
52796-98 70.90 76.52 7.26 105.39 0.824
----------------------------------------------------------------------------
including 52796-98 70.90 76.52 5.62 126.98 1.009
----------------------------------------------------------------------------
including 52796-97 70.90 74.52 3.62 194.70 1.332
----------------------------------------------------------------------------
including 52789 57.26 59.26 2.00 107.90 0.228
----------------------------------------------------------------------------
including 52796 70.90 72.40 1.50 334.90 1.714
----------------------------------------------------------------------------
VT 15 - 11 was drilled from the HW side of the structure 32 metres lower on the caldera. Zone two is also a stacked section created by repetition of the structure through faulting.
-----------------------------------------------------------------------
-----
Description Sample From To Width AG AU
VT 15-11 Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Zone 1
----------------------------------------------------------------------------
Weighted average 1791-93 195.00 201.00 6.00 157.60 0.483
----------------------------------------------------------------------------
including 1792 197.00 199.00 2.00 215.80 0.386
----------------------------------------------------------------------------
including 1793 199.00 201.00 2.00 153.60 0.813
----------------------------------------------------------------------------
Zone 2
----------------------------------------------------------------------------
Weighted average 1800-1802 213.00 219.00 6.00 76.70 0.014
----------------------------------------------------------------------------
1800-1801 213.00 217.00 4.00 101.10 0.014
----------------------------------------------------------------------------
including 1800 215.00 217.00 2.00 165.4 0.017
----------------------------------------------------------------------------
SECTION 15a
VT 13 - 11 was drilled from the HW side of the structure 74 metres in elevation below DDH 07 - 23. A second drill hole could not be placed in the area due to space limitations and steep topography. This drill hole cut a sub parallel fault zone and quartz breccia thus returning low values.
-----------------------------------------------------------------------
-----
VT 13-11 Sample From To Width AG AU
Description Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
52841 183.43 185.43 2.00 12.20 0.014
----------------------------------------------------------------------------
Faulting, gouge, breccia 52842 185.43 186.43 1.00 25.50 0.027
----------------------------------------------------------------------------
52843 186.43 187.43 1.00 21.30 0.07
----------------------------------------------------------------------------
52844 187.43 188.43 1.00 3.00 0.067
----------------------------------------------------------------------------
52845 188.43 189.43 1.00 12.50 0.207
----------------------------------------------------------------------------
SECTION 15b
The intention of in-fill drilling in this section was to confirm the structures continuity between two drill holes completed in the 2006/2007 drill program. In-fill holes VT 08 - 11 (see Cream news release June 6, 2011), VT 09 - 11 and VT 14 - 11 lie in this section however VT 09 - 11 and VT 14 - 11 intersected sub-parallel faults and associated quartz breccia thereby returning low values. In comparison VT 08 - 11 returned a weighted average of 168.80 g/t Ag and 0.722 g/t Au over 7.63 metres with intervals of quartz veins ranging from a low of 202.29 g/t Ag and 0.865 g/t Au over 6.36 metres to a high of 465.80 g/t Ag and 1.352 g/t Au over 1.43 metres (see Cream news release June 6, 2011).
VT 09 - 11 was drilled from the NE side of the structure at -60 degrees which is nearly parallel to the dip of the fault plane. Consequently the drill did not intersect the vein but cut quartz breccia-gouge drag material within the fault for an intercepted distance of 40 metres, about 50 metres below the VT 08-11 intercept.
-----------------------------------------------------------------------
-----
VT 09-11 Sample From To nearly Width AG AU
Description Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Fault breccia gouge 51652 115.10 117.10 2.00 54.50 0.054
----------------------------------------------------------------------------
51653 117.10 119.10 2.00 18.60 0.010
----------------------------------------------------------------------------
Fault breccia gouge 51661 132.85 134.85 2.00 19.20 0.010
----------------------------------------------------------------------------
Position of vein structure 51662 134.85 136.46 1.61 57.10 0.036
----------------------------------------------------------------------------
Position of vein structure 51663 136.46 137.50 1.04 66.30 0.061
----------------------------------------------------------------------------
Fault breccia gouge 51670 147.45 148.95 1.50 9.90 0.037
----------------------------------------------------------------------------
51671 148.95 151.00 2.05 21.80 0.039
----------------------------------------------------------------------------
51672 151.00 152.50 1.50 11.90 0.045
----------------------------------------------------------------------------
Fault breccia gouge 51674 153.93 155.19 1.26 10.20 0.025
----------------------------------------------------------------------------
51675 155.19 156.45 1.26 32.80 0.037
----------------------------------------------------------------------------
SECTION 16
Section 16 was drilled in 2006. Drill hole DDH 07 - 23 returned a weighted average of 525.73 g/t Ag and 1.706 g/t Au over 6.0 metres including 1,338 g/t Ag and 4.35 g/t Au over 2.00 metres (see Cream news release September 5, 2007). In 2010 Roca Mines Inc. drilled hole MN 10 - 04, a twin hole which confirmed the high grade silver values (see Cream news release March 16, 2010). VT 06 - 11 was situated to cut below the DDH 07 - 23 intersection of the structure to confirm the high grade intersected. Subsequently VT 06 - 11 was check assayed to confirm the assay range of silver and gold in the VT 06 - 11 original assays.
-----------------------------------------------------------------------
-----
VT 06-11 Sample From To Width AG AU
Description Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Weighted average 51512-17 90.37 99.83 9.46 185.58 0.917
----------------------------------------------------------------------------
including 51514-17 94.21 99.83 5.62 311.53 1.470
----------------------------------------------------------------------------
including 51515-17 95.25 99.83 4.58 374.10 1.746
----------------------------------------------------------------------------
including 51514-16 94.21 98.13 3.92 434.97 2.052
----------------------------------------------------------------------------
including 51515-16 95.25 98.13 2.88 579.05 2.703
----------------------------------------------------------------------------
including 51515 95.25 97.26 2.01 776.70 3.673
----------------------------------------------------------------------------
VT 06 - 11 check assay was performed on pulp of the original sample, employing the same assay methodology employed on the original sample.
-----------------------------------------------------------------------
-----
VT 06-11 Sample From To Width AG AU
Description Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Weighted average 51512-17 90.37 99.83 9.46 192.20 0.978
----------------------------------------------------------------------------
including 51514-17 94.21 99.83 5.62 322.53 1.635
----------------------------------------------------------------------------
including 51515-17 95.25 99.83 4.58 388.50 1.954
----------------------------------------------------------------------------
including 51514-16 94.21 98.13 3.92 443.33 2.226
----------------------------------------------------------------------------
including 51515-16 95.25 98.13 2.88 603.43 3.030
----------------------------------------------------------------------------
including 51515 97.26 98.13 2.01 812.80 4.139
----------------------------------------------------------------------------
VT 14 - 11 cut quartz breccia with gouge and pyrite in a sub-parallel fault approximately 175 metres below the VT 06 - 11 high grade intercept. The quartz breccia returned insignificant gold-silver values.
SECTION 17a
The purpose of these drill holes was in-fill drilling.
-----------------------------------------------------------------------
-----
VT 10-11 Sample From To Width Ag Au
Description Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Weighted average 52658-62 89.27 98.80 9.53 172.10 0.489
----------------------------------------------------------------------------
or 52658-60 89.27 95.27 6.00 175.37 0.506
----------------------------------------------------------------------------
or 52660-62 93.27 98.80 5.53 183.47 0.545
----------------------------------------------------------------------------
including 52658 89.27 91.27 2.00 304.00 0.789
----------------------------------------------------------------------------
including 52660 93.27 95.27 2.00 213.30 0.690
----------------------------------------------------------------------------
including 52662 97.27 98.80 1.53 375.80 0.952
----------------------------------------------------------------------------
VT 11 - 11 cut a sub parallel fault zone 50 metres below the VT 10 - 11 intercept showing quartz breccia thus returning low values.
-----------------------------------------------------------------------
-----
VT 11-11 Sample From To Width AG AU
Description Number Metres Metres Metres g/t g/t
----------------------------------------------------------------------------
Weighted average 52728 29.30 31.10 2.00 21.90 0.032
----------------------------------------------------------------------------
including 52731 61.80 63.80 2.00 27.70 0.57
----------------------------------------------------------------------------
including 52735 91.33 93.33 2.00 17.00 0.021
----------------------------------------------------------------------------
including 52658 117.33 119.33 2.00 16.20 0.215
----------------------------------------------------------------------------
VT 16 - 11 cut quartz breccia with gouge and pyrite in a second sub-parallel fault approximately 225 metres below the VT 10 - 11 intercept. The breccia showed no significant gold-silver values.
At the collar of VT 16 - 11 a N80W /65S, 30 metre wide fault structure was exposed. This fault was traced to the SE and appears to be the same fault indicated near DDH 07 - 22. It displaces Veta Tomas to the SE. A N70E/65S fault segment was recognized just south of DDH 19 - 06. Veta Tomas shows the same type of structural setting recognized in the Transition Zone between Dos Hornos 1 and Dos Hornos 2 demonstrating the same sense and magnitude of movement. These two faults have cut and displaced Veta Tomas. The displaced segment is apparently represented to the SE where a structure was traced for 300 metres by shafts and trenches demonstrating evidence of exploration during colonial times. Access to this area is difficult because of the steepness of the topography.
SUMMARY:
Drilling to date on the Veta Tomas structure has demonstrated continuity of the structure along strike and down dip. In addition to stacked sections by repetition of the structure through faulting has been observed in several cases including VT 12 - 11 and VT 15 - 11. Unfortunately the challenging topography limits possible drill pad locations which combined with deeply dipping structures and aligned sub-parallel fault planes cutting the mineralized structure have impacted drill results. Drill holes which have cut Veta Tomas above or below sub-parallel faults generally have returned good assay values. This may suggest low assay values associated with sub-parallel faults are localized occurrences.
Revised NI 43 -- 101 Report, dated December 24, 2008 by F. Holcapek, P. Eng.
----------------------------------------------------------------------------
Width Ag Au Ag Au
Dos Horns (U/G) m Tonnes g/t g/t oz oz
----------------------------------------------------------------------------
Dos Hornos
Segment 1 4.70 1,173,901.56 165.34 1.500 6,552,238.85 59,400.00
----------------------------------------------------------------------------
Dos Hornos
Segment 2 4.06 746,528.32 201.95 1.770 4,847,215.70 42,390.25
----------------------------------------------------------------------------
Veta Tomas 5.09 1,246,162.50 351.19 1.280 14,070,467.48 51,344.17
----------------------------------------------------------------------------
Once Bocas 2.42 1,921,162.50 252.59 1.920 15,602,012.74 118,347.79
----------------------------------------------------------------------------
Total 5,087,754.88 251.09 1.660 41,071,934.77 271,482.21
----------------------------------------------------------------------------
Tonnes: 5,088,000 Ag: 251.09 g/t, Au: 1.660 g/t. Ag: 41,072,000 oz, Au:
271,500 oz.
Silver Equivalent (Gold -- Silver price Ratio = 50:1): 54,647,000 oz (In-
Situ).
Metal prices employed were USD$10.28 per ounce Ag and USD$816.09 per ounce Au. A cut-off grade of US$ 45.00 per tonne or 131g/t Ag equivalent was used.
MJX.V correction 1.5 M NOT 10.5 M intersect
NOTE: This press release replaces that issued this morning, August 18, 2011, as it contains a correction to the intersection for DDH FB-09-09, which should read 537g/t Au over 1.5 m, and not over 10.5m.
APE.V Apogee Reports Assays from 15 Drill Holes Including 3.0 Meters Grading 468.7 g/t Silver, and Further Commences Underground and Oxide Drilling Programs at the Pulacayo Deposit
TORONTO, ONTARIO, Aug 18, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE) is pleased to report assay results from 15 additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia (See Table 1 below). All of the reported holes were drilled from surface.
The highlights include:
-- PUD 195 which intersected 10.0 meters grading 133.70 g/t silver, 0.69 %
lead, 0.02% zinc.
-- PUD 196 which intersected 1.0 meter grading 215.00 g/t silver, 3.45%
lead, 1.86% zinc.
-- PUD 199 which intersected 4.0 meters grading 285.50 g/t silver, 3.67%
lead, 5.03 % zinc.
-- PUD 201 which intersected 1.0 meter grading 171.0 g/t silver, 0.06%
lead, 3.17% zinc.
-- PUD 206 which intersected 2.0 meters grading 137.0 g/t silver,0.04%
lead, 0.20% zinc, and 3.02 g/t gold.
-- PUD 207 which intersected 3.0 meters grading 468.7 g/t silver, 0.04%
lead, 0.11% zinc.
Drill holes outside of the currently estimated mineral resource were drilled along strike both to the east and to the west of the deposit comprising the previously released National Instrument 43-101 ("NI 43-101") resource. Since 2010, diamond drilling has successfully extended the deposit approximately 750 meters east of the current (See Press Releases dated, February 24th 2011, April 5th 2011, May 16th 2011, June 22, 2011 and the NI 43-101 technical report dated December 2008 and filed under the SEDAR profile of the Company at www.sedar.com). The Company has now completed a total of 63 drill holes east of the previously announced resource and 9 holes in the area to the west (See Figures 2 and 3 below).
Chris Collins, P. Geo., President of Apogee, states, "We continue to be very encouraged by the latest assay results from Pulacayo. The drill holes delineating the deposit along strike east of the current estimated resources continue to return high silver grades across widths that are expected to be minable. Assay results also include the initial results from drill holes along strike to the west of the current estimated resources including some very high grade silver intercepts. Additional drilling in this area is clearly warranted."
Apogee continues to evaluate the Pulacayo deposit with five drill rigs at the site. Three surface drills are completing the first phase of the resource expansion drilling which will total approximately 23,000 meters. An underground drill commenced in early August, 2011 and three drill holes have been completed to date. The underground drill is focused on providing detailed information in the areas of the deposit that are scheduled for pilot mining in the fourth quarter of 2011. A program to evaluate the near surface silver oxide potential also commenced in early August, 2011. At present there is one drill on this program but additional drills will be added as the planned sulphide resource expansion drilling wraps up."
To view Table 1 Summary of Significant Intercepts, please visit the following link: http://media3.marketwire.com/docs/ape818_table.pdf
The Pulacayo deposit is a thick east-west striking zone of conjugate veins, stockwork and disseminated sulphides that locally are up to 200 meters in thickness with a higher grade core that comprises the resource. The known strike length of the Tajo Vein System which hosts the Pulacayo deposit is approximately 2.7 km and to date only approximately 1,300 meters has been systematically drill tested (See Figure 2 below). Mineralization comprises sphalerite, galena and tetrahedrite in sulphide-rich veins ranging from a few centimeters to greater than one meter thick and heavily disseminated sphalerite, galena and tetrahedrite between the veins.
APE.V Apogee Silver Provides Update to its Mine and Mill Development Program at Pulacayo
TORONTO, ONTARIO, Aug 15, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES
Apogee Silver Ltd. (TSX VENTURE:APE) ("Apogee" or the "Company") has awarded the EPCM (Engineering, Procurement & Construction Management) contract for a 400tpd (tonne per day) pilot concentrator at Pulacayo in Southern Bolivia to TWP Sudamerica S.A., a capable engineering firm with worldwide experience (refer to further information below).
The rehabilitation of Apogee's Pulacayo underground mine is underway one month ahead of schedule, and is in preparation for underground mining commencing later this year. Operations are schedule to be ramped up to meet the 400tpd capacity as the Pulacayo concentrator is commissioned. The rehabilitation work and planned trial mining program is being conducted under the Company's current "EMAP" environmental licence, which permits mining and custom milling operations for up to 200 tonnes per day. The Company is on schedule to obtain an expanded environmental permit in Q2 2012, ahead of construction of the pilot concentrator.
Neil Ringdahl, Bsc. (Eng.) Mining and CEO of Apogee, states "The construction of a 400tpd milling operation brings the company an important step closer to its goal of becoming a significant silver producer. Apogee is hiring and training a core work force in Bolivia that will be available to transition to full scale mining as the concentrator comes on line. The projected early cash flow from our wholly owned pilot concentrator will be a strong advantage that will provide further support towards building a large mine and mill on this outstanding silver resource."
The Company is on track to achieve the following medium term objectives:
-- The construction of the Pulacayo pilot concentrator and tailings storage
facility (commissioning in Q4, 2012);
-- Underground mining development & limited custom toll milling at Pulacayo
(commencing Nov/Dec, 2011);
-- Completion of oxide and resource expansion drill programs; and
-- The feasibility study for a large mining and milling operation at
Pulacayo-Paca.
Subsequent to completing the bought deal $25 million financing (news release dated May 3, 2011) the Company is in a solid financial position. As a result it will not complete the proposed debt facility with Sprott Resource Lending Partners (see press releases April 26, May 3, and May 6, 2011).
Record Results for Aurcana AUN.V Q2, 2011
VANCOUVER, BRITISH COLUMBIA, Aug 15, 2011 (MARKETWIRE via COMTEX News Network) --
Aurcana Corporation (TSX VENTURE: AUN)(OTCQX: AUNFF) ("Aurcana" or the "Company") is pleased to report its unaudited financial results for the second quarter ended June 30, 2011. The summary of the selected financial information should be read in conjunction with the unaudited financial statements and the related management's discussion and analysis dated August 12, 2011 together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and the Company's website (http://www.aurcana.com). All figures are in US dollars unless otherwise noted.
Join the Q2 Conference Call for Aurcana Corporation at 4:30pm (EST), Monday, Aug. 15, 2011, details at end of this press release.
Highlights for the quarter ended June 30, 2011 were:
-- 158% increase in net revenues to $12.4 million compared to $4.8 million
for the second quarter of 2010;
-- Earnings from mining operations to $5.3 million compared to $0.6 million
for the second quarter of 2010;
-- Operating cash flow before movements in working capital items, to $4.0
million (2010: deficit of $1.5 million)
-- 50% increase in milled tonnes processed for a total of 260,931 during
the six months ended June 2011, (2010: 173,208 tonnes); of which 36,809
tonnes or 14% were mined from NI 43-101 Measured and Indicated and the
balance of 224,122 tonnes or 86% were mined from new discoveries;
-- 53% increase in silver ounces sold for second quarter to 263,357
(257,509 ounces produced) from 172,356 silver ounces in 2010.
-- Metal prices were a significant factor in the increased profitability of
the Company. Average Silver prices were $36.86 compared to 18.22 per
ounce in second quarter of 2010.
La Negra Mine
-- 42% increase in tonnes of ore processed during the second quarter,
133,700 compared to 94,201 for 2010;
-- 41% increase in Silver ounces produced during the second quarter,
257,508 compared to 182,009 in 2010;
-- 36% increase in Copper, Zinc and Lead concentrate produced during
current the second quarter, 5,391 tonnes (5,345 tonnes sold) compared to
3,976 in 2010;
-- La Negra's production increase was supported by a continuous in-house
diamond drilling program.
Mining operations and exploration drilling at La Negra continue to delineate additional mineralized zones, either between or as extensions of existing ore zones. These results are expected to add to the mine life of La Negra.
Drill crews have completed 6,863 metres of diamond drilling during the six months ended June, 2011.
A lead-silver concentrate circuit was installed and was placed into production during the quarter ended June 30, 2011. Metallurgical studies concluded that the new circuit, using gravimetric separation, would eliminate the penalty for lead content and result in a higher quality copper concentrate.
Additional expansion of La Negra is planned to increase production from 1,500 up to 2,000 tonnes/day, with an investment of $ 4.5 million and an estimated completion in early 2012.
Shafter
-- Construction on the Shafter Silver Mine is on schedule and estimated to
be complete by May, 2012.
-- The Shafter feasibility study shows an estimated pay back of 1.9 years
based on $15.53 per ounce of Silver and the construction is estimated to
be completed by May 2012.
Earnings
The Company had earnings from mining operations of $5.3 million for the quarter ended June 30, 2011 (2010: $0.6 million); income before taxes of $1.7 million (2010: a loss of $1.4 million); a net income of $1.6 million (2010: a loss of $ 1.4 million). For the six months ended June 30, 2011 the Company had earnings from mining operations to $ 10.7 million (2010: $ 1.3 million); income before taxes to $ 3.3 million (2010: a loss $ 1.9 million); a net income of $ 2.3 million (2010: a loss of $ 1.9 million).
The increase in earnings from operations was mainly related to increased volumes sold and the increase in the selling prices of the metals produced by the Company.
Revenue
During the quarter ended June 30, 2011, the Company generated revenues from the sale of 1,832 tonnes of copper concentrate (2010: - 2,788 tonnes); 2,667 tonnes of zinc concentrate (2010: - 1,085 tonnes); 846 tonnes of Lead Concentrate (2010: nil); and 263,357 ounces of silver (2010 - 172,356 ounces) for total net revenues of $12.4 million (2010 - $4.8 million).
The average price for sales of copper, silver, zinc and lead during the period were Cu - $4.14 (2010: $3.45) per pound; Ag - $36.86 (2010: $18.22) per ounce; Zn $1.02 (2010: $1.15) per pound and Pb $1.16 (2010: $0.88). Metal prices were a significant factor in the increased profitability of the Company.
-----------------------------------------------------------------------
-----
Concept Second quarter Change Year to date Change
Year-on- Year-on-
2011 2010 Year 2011 2010 Year
----------------------------------------------------------------------------
Revenues ($
million) (1) $ 12.4 $ 4.8 Up 158% $ 23.2 $ 9.3 Up 150%
Earnings from
mining
operations
($million) $ 5.3 $ 0.6 Up $ 10.7 $ 1.3 Up
Net Income
(loss)
$million $ 1.6 $ (1.4) Up $ 3.0M $ 2.3 $ (1.9) Up $ 4.2 M
Operating Cash
Flow before
movements in
working
capital ($
million) (2) $ 4.0 $ (1.5) Up $ 5.5 M $ 8.7 $ (1.9)Up $ 10.6 M
Silver Ounces
produced 257,508 182,009 Up 41% 497,783 336,104 Up 48%
Silver Ounces
sold (2) (3) 263,357 172,356 Up 53% 482,058 326,146 Up 48%
Avg., revenue
per silver Oz
sold 36.86 18.22 Up 102% 36.14 17.72 Up 104%
Copper, lead
and zinc
concentrates
produced
(tonnes) 5,391 3,976 Up 36% 10,075 6,962 Up 45%
Ore mined
(tonnes) 143,290 113,711 Up 26% 272,902 221,740 Up 23%
Ore milled
(tonnes) 133,700 94,201 Up 42% 260,931 173,208 Up 50%
----------------------------------------------------------------------------
(1) After refinery & treatment charges
(2) A non IFRS measure
(3) After refinery & treatment charges
Summary
During Q2 2011 Aurcana continued to build on the advances of its La Negra Mine. Metal concentrate prices continued to improve, and the Company continued to adjust its cost structure, both on the operational and administrative side. The Company continued to advance the permitting process at Shafter and initiated development of the Shafter mine. Aurcana continues to focus on its future growth.
To read complete Financial Statement click on this link: http://www.aurcana.com/i/pdf/2011Q2FS.pdf
To read complete MD&A click on this link: http://www.aurcana.com/i/pdf/2011Q2MDA.pdf
Corporate
On April 19, 2011, Aurcana commenced trading on the OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
The Company trades in the United States on OTCQX under the symbol "AUNFF".
About Aurcana Corporation:
The Shafter Silver Mine is scheduled to start up production within 12 months producing 3.8 million ounces silver in the first year. It has a NI 43-101 measured and indicated resource of 24.6 million ounces of silver (2,900,000 tons at 8.48 Ag opt) and an inferred resource of 22.8 million ounces of silver (2,167,000 tons at 10.52 Ag opt) using a 4.0 ounce per ton cut off. The 92% owned La Negra silver-lead-zinc-copper mine is on target to increase production to over 2 million ounces Silver Equivalent annually.
Q2 2011 Conference Call Details
Monday, August 15, 2011, 4:30 PM EDT (1:30 PM Pacific)
Attendee Access Information: Canada and USA Toll Free 1-800-319-4610, Vancouver 604-638-5340, Outside of Canada & USA 1-604-638-5340
A replay of the conference call will be available immediately following the conference by dialing 1-800-319-6413 in Canada & USA (Toll-free) or 1- 604-638-9010 outside of Canada and USA. The required pass code is 2729 followed by the # sign.
Please dial-in to the meeting at least 5 minutes prior to the start time using one of the attendee phone numbers.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President
For further information, visit the website at www.aurcana.com.
NR#11-11
Caution Regarding Forward-Looking Statements -- This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Aurcana Corporation (604) 331-9333 or Toll Free: (866) 532-9333 (604) 633-9179 (FAX) Aurcana Corporation Gary Lindsey Corporate Relations (720)-273-6224 gary@strata-star.com www.aurcana.com
SOURCE: Aurcana Corporation
mailto:gary@strata-star.com http://www.aurcana.com
Copyright 2011 Marketwire, Inc., All rights reserved.
Gowest Announces $3,200,000 Offering
TORONTO, ONTARIO, Jul 19, 2011 (MARKETWIRE via COMTEX News Network) --
Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA)(OTCBB:GWSAF) announces that it has engaged Salman Partners Inc. (the "Agent") in connection with a private placement on a best efforts agency basis of 4,444,500 common shares at a price of $0.27 per share plus 6,666,700 flow-through common shares at a price of $0.30 per flow-through common share for aggregate gross proceeds of approximately $3,200,000 (the "Offering").
Gowest has agreed to grant an overallotment option exercisable by the Agent in whole or in part on or before the Closing Date to increase the size of the Offering by up to an additional 1,666,700 Flow-Through Shares (for up to an additional $500,010 in gross proceeds). Upon closing, the Agent will receive a commission equal to 7% of the gross proceeds raised under the Offering.
Closing of the Offering is expected to occur on or about August 5, 2011 and is subject to regulatory approvals. The securities issued in connection with the Offering will have a hold period expiring 4 months and 1 day from the date of closing. The net proceeds will be used to advance the Company's Frankfield gold project and general corporate purposes.
Wildcat to commence trading on the Toronto Stock Exchange on July 19, 2011
Canada NewsWire
VANCOUVER, July 18, 2011
VANCOUVER, July 18, 2011 /CNW/ - Wildcat Silver Corporation (TSX-V: WS) ("Wildcat" or "the Company") is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange ("TSX"). Wildcat will commence trading on the TSX under the symbol "WS" at the opening on July 19, 2011 and will no longer trade on the TSX Venture Exchange.
Chris Jones, Wildcat's President and CEO, said, "Advancing our listing to the TSX main board is a milestone achievement for Wildcat that recognizes the Company's ability to finance and advance its development plan for our Hermosa Project. This listing provides us the ability to reach a broader investor base and further advance the significant value proposition that the Company represents."
About Wildcat
Wildcat is a Canadian mineral exploration company focused on development of Hermosa, its 80% owned silver project located in Santa Cruz County, Arizona. The project currently has an indicated mineral resource of 6.0 million tonnes averaging 187.8 grams per tonne silver for a total of 36 million ounces of silver in addition to an inferred mineral resource of 46.3 million tonnes averaging 58.6 grams per tonne silver for a total of 85 million ounces of silver. The Company has completed an updated preliminary economic assessment which contemplates an 18 year mine life with expected annual production in excess of 6 million ounces of silver for the first full five years of production.
Helio's Latest Drilling Discovers Multiple Zones of Gold Mineralisation at Porcupine Target - SMP Gold Project, Tanzania
Canada NewsWire
VANCOUVER, July 12, 2011
TSX-V Trading Symbol: HRC
E-mail: info@helioresource.com Tel.: +1 604 638 8007
Website: www.helioresource.com
VANCOUVER, July 12, 2011 /CNW/ - Helio Resource Corp (TSX-V: HRC) is pleased to announce the drill results from the second batch of drill holes (15 holes, including extensions of previous holes, for a total of 1,604m of diamond drilling) of this year's 20,000m drill campaign at the SMP Gold Project, Tanzania.
The drill results come from exploration of the footwall to the Porcupine Main Zone, and the area northeast of the Quill Zone.
Highlights
Multiple zones of gold mineralisation in the footwall of Porcupine Main Zone discovered:
GPD 40 - 5m grading 2.1g/t Au and 24m grading 1.1g/t Au
GPD 41 - 27m at 1.0g/t Au and 1m at 11.2g/t Au and 30m at 0.8g/t Au
GPD 94 - 19m at 1.1g/t Au
GPD 111 - 16.3m at 1.1g/t Au
GPD 112 - 34m at 0.7g/t Au
The footwall zones open up a large area to the west of the resource for further expansion
Multiple zones of mineralisation found to the NE of the Quill Target, including;
GPD 103 - 1m at 4.2g/t Au
GPD 108 - 3m at 2.6g/t Au
The intercepts at Quill are 250m NE of any previous drilling and remain open to the northeast.
Avion Announces Q2 Gold Production of 25,800 Ounces
TORONTO, ONTARIO, Jul 07, 2011 (MARKETWIRE via COMTEX News Network) --
Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the 'Company') is pleased to announce second quarter of 2011 production of approximately 25,823 ounces of gold from its Tabakoto/ Segala operations in Mali, West Africa. This amount exceeded Avion's second quarter budget of 24,500 ounces, and brings production in line with the Company's guidance of 100,000 ounces in 2011.
During the second quarter of 2011, the Company milled 197,100 tonnes of ore at an average grade of 4.21 g/t Au, with a 96.6% mill recovery. The table below presents 2011 year-to-date production results:
--------------------------------------------------------------
Q1 Q2 YTD
--------------------------------------------------------------
Ore Milled (000's tonnes) 180.8 197.1 377.9
--------------------------------------------------------------
Head Grade (g/t Au) 3.64 4.21 3.94
--------------------------------------------------------------
Plant Recovery (%) 96.2 96.8 96.6
--------------------------------------------------------------
Gold Production (oz)(1) 20,272 25,823 46,095
--------------------------------------------------------------
AVR running on news ...
Avion Announces Initial Mineral Reserve of 913,100 Ounces of Gold That Supports a 5 Year Mine Life at Tabakoto Project, Mali
TORONTO, ONTARIO, Jul 05, 2011 (MARKETWIRE via COMTEX News Network) --
("Avion" or "the Company") (TSX:AVR)(OTCQX:AVGCF), is pleased to announce its initial mineral reserve estimation for seven deposit groups and several ore stockpiles which comprise the Tabakoto Project in Mali, West Africa. Highlights of Avion's mineral reserves and mineral resources are as follows:
-- Tabakoto Project open pit and stockpiled Proven and Probable mineral
reserves comprise 2,611,000 tonnes grading 2.90 g/t Au for 243,600
ounces of gold.
-- Tabakoto Project underground Proven and Probable mineral reserves
comprise 4,630,000 tonnes grading 4.50 g/t Au for 669,500 ounces of
gold.
-- Additional Measured and Indicated mineral resources comprise 1,359,000
tonnes at 3.41 g/t Au containing 149,100 ounces of gold.
-- Additional Inferred mineral resources comprise 7,892,000 tonnes at 4.22
g/t Au containing 1,070,500 ounces of gold.
WILDCAT CONDITIONALLY APPROVED TO LIST ON THE TSX
VANCOUVER, July 5, 2011 /PRNewswire via COMTEX News Network/ --
Wildcat Silver Corporation (TSX-V: WS) ("Wildcat" or "the Company") is pleased to announce that its common shares (the "Shares") have been conditionally approved for listing on the Toronto Stock Exchange ("TSX") under the symbol "WS". Listing of the Shares is subject to the Company fulfilling all of the requirements set forth by the TSX, including submission of all necessary documentation.
"We are pleased to have Wildcat advance to the TSX from the Venture Exchange," said Chris Jones, Wildcat's President and CEO. "This is an important milestone for the Company as it provides us with further opportunities to increase our exposure in the public markets. We look forward to continuing to achieve successes throughout the year."
About Wildcat Wildcat is a Canadian mineral exploration company focused on development of Hermosa, its 80% owned silver project located in Santa Cruz County, Arizona. The project currently has an indicated mineral resource of 6.0 million tonnes averaging 187.8 grams per tonne silver for a total of 36 million ounces of silver in addition to an inferred mineral resource of 46.3 million tonnes averaging 58.6 grams per tonne silver for a total of 85 million ounces of silver. The Company has completed an updated preliminary economic assessment which contemplates an 18 year mine life with expected annual production in excess of 6 million ounces of silver for the first full five years of production.
Wildcat currently trades on the TSX Venture Exchange under the symbol WS.
but, is it even feasible ? eom
Scientists Discover Large Deposit of Rare Minerals Used in iPads
By Stephanie Buck | Mashable – Mon, Jul 4, 2011
A huge deposit of “rare earth” minerals has been discovered on the floor of the Pacific Ocean, Reuters reports.
Japanese scientists announced their analysis of the deposits Monday, claiming the area around Hawaii is especially rich in minerals that help build iPads, LCD TVs and other electronic devices.
Prior to this discovery, manufacturers and environmentalists alike expressed concern over the limited and dwindling supply of rare earth minerals. However, experts report that the minerals found in the Pacific may reinforce known land supply by 1,000 times.
The mud is rich in rare earth minerals like gadolinium, lutetium, terbium and dysprosium, which are especially important in the manufacturing of technology like hybrid cars and flat screens. China, which currently produces 97% of the world's rare earth metals, has at times threatened to cut exports of the materials, leading to fear that the prices of electronic devices could soar.
Now, China's near monopoly is threatened as scientists say that ocean bed extraction from this particular region should be relatively simple using acid leaching techniques.
“The deposits have a heavy concentration of rare earths. Just one sq km (0.4 sq mile) of deposits will be able to provide one-fifth of the current global annual consumption," Yasuhiro Kato, an associate professor of earth science at the University of Tokyo, said in a Guardian.co.uk interview.
AVR.T : Avion Gold moving again today,
highest volume in almost yr
check the chart
Apogee Intersects 4.0 Meters Grading 350.75 g/t Silver and 8.0 Meters Grading 242.38 g/t Silver at the Pulacayo Deposit
TORONTO, ONTARIO, Jun 22, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE) reports assay results from eight additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia (See Table 1 below). All of the reported holes were drilled from surface.
The highlights from these holes include:
-- DDH PUD 185 intersected 6.0 meters grading 165.50 g/t silver, 3.53%
lead, 3.58% zinc.
-- DDH PUD 186 intersected 4.0 meters grading 275.50 g/t silver, 0.25%
lead, 2.62% zinc.
-- DDH PUD 188 intersected 5.0 meters grading 128.40 g/t Ag, 0.61% lead,
3.14% zinc.
-- DDH PUD 190 intersected 4.0 meters grading 350.75 g/t silver, 0.16% lead
and 0.59% zinc.
-- DDH PUD 191 intersected 8.0 meters grading 242.38 g/t silver, 0.63% lead
and 1.19% zinc.
The holes intersected mineralization outside of the currently estimated mineral resource and were drilled to continue delineation of the deposit along strike east, and west of the previously released National Instrument 43-101 ("NI 43-101") resource. Since 2010, diamond drilling has successfully extended the deposit approximately 750 meters east of the current NI 43-101 resource estimate. (See Press Releases dated, February 24th 2011, April 5th 2011, May 16th 2011 and the NI 43-101 technical report dated December 2008 and filed under the SEDAR profile of the Company at (www.sedar.com). The Company has now completed a total of 56 drill holes in the area east of the previously released NI 43-101 compliant resource estimate (See Figure 2 and 3 below).
Neil Ringdahl, CEO of Apogee, states, "The results from our fast-tracked drilling program continue to be most encouraging; this will undoubtedly have a positive impact on our updated resource statement which we plan to release in the fourth quarter, and also on the on the feasibility study for a multi-million ounce per year operation at Pulacayo." The feasibility study is scheduled to be completed in the first half of 2012.
Chris Collins, P. Geo., President of Apogee, states, "We remain very encouraged by the latest drill results at Pulacayo where management believes that the holes designed to in-fill the area along strike east of the current resources continue to indicate outstanding silver grades over excellent widths. Four drills continue to evaluate the Pulacayo deposit from surface. A fifth diamond drill, an underground drill, is currently being mobilized to Pulacayo and will commence a drill program designed to provide greater resolution in areas of the resource which have been targeted for initial pilot mining from existing underground development."
Allana Potash Intersects New Zone of Potash Mineralization in Southwest With 61.26% KCl Over 0.9 Metres in Hole DK-11-19
TORONTO, ONTARIO, Jun 13, 2011 (MARKETWIRE via COMTEX News Network) --
Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company") is pleased to announce that it has intersected three zones of potash mineralization in Hole DK-11-19 ("Hole 19") in the southwest portion of Allana's land position. Hole 19 intersected a new zone of potash mineralization which returned 61.26% KCl over 0.90 metres within 7.30 metres 37.74% KCl and is referred to here as the Upper Sylvinite Zone, as well as the main Sylvinite Zone and the Kainitite Zone. The traditional Sylvinite Zone returned 3.04 metres of 30.85% KCl and the Kainitite Zone returned 22.09% KCl over 7.23 metres. The presence of strong potash mineralization in the southwestern part of the property suggests strong continuity of the potash horizon and the deposit remains open to the south and east which management believes increases the resource potential in this direction. Remaining analytical results from Hole 12 were also received and the Kainitite Zone returned 6.83 metres of 22.30% KCl. This work will be included in the upcoming update to Allana's National Instrument 43-101 ("NI 43-101") technical report.
Helio Makes a Significant New Gold-Copper-Silver Discovery at the Gold Kop Target, Damara Gold Project, Namibia
VANCOUVER, June 13, 2011 /PRNewswire via COMTEX News Network/ --
50m @ 2.1g/t Au, 0.8% Cu and 14g/t Ag Includes 7m @ 9g/t Au, 4.4% Cu and 73g/t Ag
TSX-V Trading Symbol: HRC
Helio Resource Corp. (TSX-V: HRC) is very pleased to report the first diamond drill results from the current drill programme at the Gold Kop Target, on its 100%-owned Damara Gold Project (DGP) in Namibia. The Gold Kop Target is situated 45km northeast of AngloGold Ashanti's (AGA) Navachab gold mine (see map at http://www.helioresource.com/i/pdf/2011-06-13_NRM1.pdf).
Highlights
50m grading 2.1g/t Au, 0.8% Cu and 14.0g/t Ag
Including 7m grading 9.0g/t Au, 4.43% Cu and 73.0g/t Ag
Multiple mineralised horizons
Mineralisation outcrops at surface and is open along strike and to depth
The intercept is located on the western margin of a 1.2km long IP anomaly which is open to the north
The intercept is also located within a 4km-long gold in soil anomaly which is open to the southwest
2 drill rigs (1 diamond and 1 RC) currently active on the Gold Kop target
These results are from the first hole of an ongoing 5,000m drill programme at the Gold Kop Target. OJD1 was drilled to test a large geochemical and geophysical anomaly.
The map showing the location of the drill hole in relation to a 4km long gold-in-soil anomaly, is presented in the link below: http://www.helioresource.com/i/pdf/2011-06-13_NRM2.pdf
And a map showing the location of OJD1 in relation to a 1.2km long IP geophysical anomaly, is presented in the following link: http://www.helioresource.com/i/pdf/2011-06-13_NRM3.pdf
The hole intercepted a number of mineralised horizons, varying from wide zones representing bulk-mineable type targets to narrower high-grade zones. A table of the significant intercepts from the hole is presented below.
Avion Gold Announces First Quarter Earnings of $8.3 Million and Cashflow of $15.4 Million
TORONTO, ONTARIO, Jun 02, 2011 (MARKETWIRE via COMTEX News Network) --
Avion Gold Corporation (TSX: AVR)(OTCQX: AVGCF) ("Avion" or the "Company") today announces its financial results for the first quarter ended March 31, 2011. All amounts are in United States dollars unless otherwise indicated.
Avion plans to host a conference call at 10:30 AM (EST) on June 2, 2011. To participate in the call please dial:
International: +1 416 340 9432 Toll Free North America: 877 440 9795 Toronto Area: 416 340 9432
Aplay-back recording will be available shortly after the completion of the call on Avion's website at www.aviongoldcorp.com.
Complete audited financial statements and related Management's Discussion and Analysis will be available under the Company's profile on www.sedar.com before the market opens on June 2, 2011.
First Quarter Highlights:
-- The Company had earnings of $8.3 million, or $0.02 per share for the
quarter as compared to $0.7 million in earnings, or $0.00 per share for
the comparable quarter last year.
-- The Company produced 20,270 ounces of gold at a cash cost per ounce of
$462 and total cash costs produced of $534. The Company continues to
generate significant cash flow from its operations with $15.4 million
generated this quarter as compared to $1.9 million for the comparable
quarter last year. The Company generated cash flow of approximately $762
per ounce of gold produced. Please see Non-GAAP measures below.
-- Before share based compensation, the Company had earnings of $11.8
million, or $0.03 per share for the quarter as compared to $3.0 million
in earnings, or $0.01 per share for the comparable quarter last year.
-- The Company achieved revenues of $27.5 million this quarter compared to
revenues of $19.5 million for the comparable quarter last year
representing a 29% increase.
-- During the quarter, the Company's gold sales at an average realized
price of $1,394 per ounce, which was $8 higher than the London PM fix
average for the quarter ended March 31, 2011.
-- During the quarter the Company expended $38.6 million on its extensive
capital programs including underground development, mill plant expansion
activities and exploration. These capital programs continue to proceed
on time and on schedule.
-- The Company completed the quarter with a strong balance sheet having
$24.4 million in working capital, which included $ 19.1 million in cash
and cash equivalents, as at March 31, 2011.
-- In May 2011 the Company completed a $35 million credit facility through
Atlantic Financial Group which is available for a three year term with
an annual interest rate of 7% and no hedging requirements, as is
normally requested by lenders.
Commenting on the first quarter 2011 results, Avion's Chief Financial Officer, Mr. Gregory Duras stated: "The Company generated strong earnings this quarter, resulting in significant operating cash flow, allowing the Company to maintain a strong financial position to sustain its extensive capital programs, including underground development, plant expansion and an aggressive exploration program. Our capital program will position us well for continued growth".
WILDCAT ANNOUNCES DRILL RESULTS INCLUDING 20.0 METRES OF 329.8 GRAMS PER TONNE SILVER
Canada NewsWire
VANCOUVER, June 1, 2011
VANCOUVER, June 1, 2011 /CNW/ - Wildcat Silver Corporation (TSXV: WS) ("Wildcat" or "the Company") is pleased to announce the results for five additional holes (four step-out), completed on the Company's Hermosa property located in Santa Cruz County, Arizona. The Company continues to focus on increasing the width and length of the current resource and these results further support the extension of mineralization.
A complete list of drill intercepts, location map and 3D model of the Hermosa mineralization are available on the company's website at www.wildcatsilver.com.
Step-out Holes
HDS-136 lies east of the American Fault zone and intersected high grade silver on the down dropped side east of the fault. The hole intersected 20.0 metres which averaged 329.8 g/t silver, 3.81% lead and 2.83% manganese. Within this zone, a high grade intersection of 6.9 metres averaged 839.8 g/t silver, 7.12% lead and 8.17% manganese. This hole represents the eastern most drilling on Wildcat's patented claims, indicating the Hermosa mineralization continues east of the American Fault and remains open to the east on the Company's unpatented claims.
HDS-137 is located to the north and intersected three zones of significant manganese mineralization. These intercepts extend the north-south trending skarn zone to the east and indicate the zone remains open to the east. The most noteworthy intersection in this hole was a 39.2 metre section which averaged 87.2 g/t silver, 16.89% manganese, 1.41% lead and 2.22% zinc, which included a 12.2 metre section with average grades of 156.5 g/t silver, 8.34% manganese, 2.73% lead and 1.50% zinc.
HDS-146 and HDS-149 are located in the western portion of the Hermosa patented claim block. These holes intersected moderate silver mineralization over narrow intervals, but have been successful in extending the Hermosa zone to the west. Drill hole HDS-146 intersected 131.5 g/t silver and 10.86% manganese over 4.6 metres. HDS-149 intersected three narrow zones of mineralization, the most noteworthy of which was 4.6 metres averaging 114.1 g/t silver.
Infill Holes
HDS-129 is an infill hole between two widely-spaced holes in the north south trending deep sulfide skarn zone. This drill hole intersected two thick zones of strong base metals mineralization with moderate levels of silver and moderate to strong manganese mineralization that show continuity between earlier drilling. The upper zone intercepted 25.6 metres averaging 89.1 g/t silver, 6.61% manganese, 8.79% zinc, 7.04% lead and 0.19% copper. The lower zone intercepted 10.5 metres averaging 57.5 g/t silver, 3.34% manganese, 6.12% zinc, 4.97% lead and 0.18% copper.
A summary of the drill results are provided below. Please also see attached map.
Hole From
(metres) To
(metres) Interval
(metres) Ag
g/t Mn
% Zn
% Pb
% Cu
%
HDS-129 509.8 535.4 25.6 89.1 6.61 8.79 7.04 0.19
HDS-129 582.9 593.4 10.5 57.5 3.34 6.12 4.97 0.18
HDS-136 209.3 229.3 20.0 329.8 2.83 0.50 3.81 0.12
HDS-136 includes 218.3 225.2 6.9 893.8 8.17 0.83 7.12 0.24
HDS-137 211.0 250.2 39.2 87.2 16.89 2.22 1.41 0.07
HDS-137 includes 211.0 223.2 12.2 156.5 8.34 1.50 2.73 0.11
HDS-137 268.9 279.0 10.1 59.7 15.42 2.96 3.80 0.13
HDS-137 326.8 364.9 38.1 69.9 12.16 5.70 3.40 0.17
HDS-146 80.8 85.4 4.6 131.5 10.86 0.48 0.13 0.03
HDS-149 74.7 76.2 1.5 107.66 2.17 0.07 0.23 0.01
HDS-149 105.2 109.8 4.6 41.49 0.66 0.10 0.02 0.01
HDS-149 173.8 178.4 4.6 114.06 0.33 0.11 0.28 0.01
Wildcat has expanded its current drill program and now plans to drill approximately 30,000 metres through to the third quarter of 2011. The Company will continue to focus on step-out drilling in the north and east directions and enough in-fill drilling to achieve the objective of significantly expanding the size and quality of the current resource. Wildcat has four drills operating on the property (two core and two reverse circulation).
Gowest Demonstrates Large High-Grade Gold Deposit Near Timmins, Ontario
TORONTO, ONTARIO, Jun 01, 2011 (MARKETWIRE via COMTEX News Network) --
-- Gold resource estimate includes 348,000 ounces of indicated resources
plus an additional 838,900 ounces of inferred resources
-- The discovery cost for the new ounces reflected in the updated resource
(2010/11 drilling campaign) was less than CDN$10 per ounce of gold
-- The gold deposit has been delineated over a strike length of 750 metres
and to a depth in excess of 800 metres to date.
-- The potential for further resource additions remains excellent as the
Frankfield East deposit mineralization remains open at depth. In
addition a number of areas exist within the known zone of mineralization
which are currently excluded from the resource calculations due to
drilling density which will be addressed in the current drill program.
-- Drilling to expand the resources and to upgrade additional inferred
resources into the measured and indicated categories is ongoing and will
continue through 2012.
-- A preliminary economic assessment is in progress and is expected to be
completed in fall 2011.
Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE: GWA)(OTCBB: GWSAF)(FRANKFURT: 1GW) today announces a significant increase in resources at its 100% owned Frankfield East Gold Deposit located in the prolific Timmins Gold Camp in Ontario, Canada. The updated resource (see Table 1) contains approximately 348,000 ounces of gold in the Indicated category (1,621,000 tonnes at a grade of 6.68 g/t Au) and 838,900 ounces of gold in the inferred category (4,342,000 tonnes at a grade of 6.01 g/t Au). The resource estimate has been completed by ACA Howe International Limited ("ACA Howe") and reported in accordance with Canadian Securities Administration National Instrument 43-101 ("NI 43-101") requirements and CIM Standards on Mineral Resources and Reserves.
Table 1. Frankfield East Gold Deposit - Resources
-----------------------------------------------------------------------
-----
Gold Grade Contained Gold
Category Tonnes (g/tonne) Ounces
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Indicated 1,621,000 6.68 348,000
Inferred 4,342,000 6.01 838,900
----------------------------------------------------------------------------
Apogee Silver Receives Approval of Its Environmental Mining Permit for Pulacayo Silver Deposit
5/25/2011 8:00:13 AM - NFD
TORONTO, ONTARIO, May 25, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES
Apogee Silver Ltd. (TSX VENTURE:APE) ("Apogee" or the "Company") has been awarded an environmental licence by the Bolivian authorities sanctioning mining operations at its Pulacayo project. The permit (Certificado de dispensacion Categoria 3 para exploracion y actividades mineras menores/EMAP) allows for underground exploration and trial mining up to 200 tonnes per day as specified in the original application and represents Apogee's first milestone in the development of its 100% owned Pulacayo mine in southern Bolivia. The Company views this development as a strong vote of support by the Bolivian government in Apogee's ability to explore and operate in Bolivia, given its strong ties with the Pulacayo Mining Cooperative and the community.
The Company intends to initiate production by custom milling ore from the Pulacayo mine until such time as a planned 400 tonne per day pilot plant is operational which is expected in 2012. Net proceeds raised from its recently completed $25 million bought deal private placement financing (See Press Release dated May 3, 2011) will be used towards achieving the following anticipated short & medium term milestones:
-- Commence rehabilitation of the underground mine in August/September
2011;
-- commence underground mining operations in October/November 2011;
-- produce 1st ore from the underground mine in the 4th quarter 2011;
-- produce an updated resource statement in the 4th quarter 2011;
-- continue the exploration program through to year-end 2011 (originally
planned for completion in July);
-- conclude the design of a 400tpd pilot concentrator plant and tailings
storage facility (4th quarter 2011);
-- obtain an environmental permit for the construction & operation of a
pilot concentrator at Pulacayo (2nd quarter 2012); and
-- commence with the feasibility study for a large mine in the 3rd quarter
2011 (completion in 1st half 2012).
Apogee plans to provide regular updates to this project development schedule going forward.
According to David Gower, P.Geo. and CEO of Apogee "This permit and subsequent development provides the Company with several strong advantages beyond early cash flow; it provides an opportunity to start mine development and complete studies for optimizing mining methods, the pilot plant will provide a definitive metallurgical flow sheet prior to designing the large mill and Apogee will hire and train a core work force in Bolivia that will be available to transition to full scale mining later."
Majescor and SOMINE Discover a New Copper-Gold Zone on the SOMINE Property, Haiti
MONTREAL, QUEBEC, May 26, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), its 100%-owned affiliate company SIMACT Alliance Copper-Gold Inc. ("SACG") and their Haitian partner SOMINE SA are pleased to report that they have discovered a new copper - gold zone on the SOMINE copper - gold Property ("SOMINE Property"). The Somine property is located in the North-East mineral district of Haiti, in the same mineral belt as the Pueblo Viejo deposit in the Dominican Republic (23.7 million ounces Au, +Ag +Cu), and is 15 km southeast from a deep water port at Fort Liberte, Haiti. A paved road leads into the NW corner of the property, and an electricity grid is present within 5 km of the property to the northeast.
In early 2011, SOMINE SA geologists sampled and mapped the northern half of the principal NNE-trending ridge on the SOMINE Property that also hosts: the Blondin porphyry copper deposit (historical of 50 million tonnes @ 0.56% Cu(i)); the Douvray porphyry copper deposit (historical resource of 69.5 million tonnes @ 0.39% Cu(i)); and the Dos Rada copper-gold occurrence (see Figure 1 accompanying this press release available at www.majescor.com).
The new copper-gold zone, termed the Matheliere zone, has a 2.4 km strike length and is up to 800 m wide. Surface grab samples of malachite-bearing altered andesite, gossanous rock and quartz - iron oxide rock yielded 35 (of 83) samples with greater than 1% Cu (further assays pending), and 9 samples with 0.5 to 9.0 ppm Au. Majescor and partner SOMINE SA are encouraged by these results, as they are very similar to the assay values and geology at the Blondin and Douvray deposits along trend to the SSE; as well as to the 3.5 km-long by 800 m-wide Dos Rada mineralization further along trend to the south-southeast on the property (see figure 1).
Majescor and partner SOMINE SA are finalising the design of a core drilling program which aims to define and expand the mineralization at the Douvray and Blondin copper - gold prospects. In addition, a comprehensive mapping, sampling and induced polarization program has been designed for the Matheliere and Dos Rada areas, with the goal to bring these new copper - gold discoveries to the drill stage within six months. For these programs, Majescor and SOMINE SA have contracted Buscore Consulting Ltd. (see Majescor Press Release dated May 19, 2011) who are presently mobilizing to the SOMINE Property.
(i) The historical resources estimates mentioned in this press release are for historical purposes only and are not compliant with CIM definition standards for Mineral Resources and Mineral Reserves, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The historical resource estimates were prepared prior to the implementation of NI 43-101 and use terminology not compliant with current reporting standards. Majescor has not made any attempt to re-classify the estimates according to current NI 43-101 standards of disclosure or the CIM definitions and is not treating the estimate as current mineral resources or mineral reserves as defined in NI 43-101. Historical estimates should not be relied upon. For additional details, please refer to the SOMINE Property NI 43-101 technical report available at www.sedar.com under Majescor Resources Inc.
Majescor and SOMINE Discover a New Copper-Gold Zone on the SOMINE Property, Haiti
MONTREAL, QUEBEC, May 26, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), its 100%-owned affiliate company SIMACT Alliance Copper-Gold Inc. ("SACG") and their Haitian partner SOMINE SA are pleased to report that they have discovered a new copper - gold zone on the SOMINE copper - gold Property ("SOMINE Property"). The Somine property is located in the North-East mineral district of Haiti, in the same mineral belt as the Pueblo Viejo deposit in the Dominican Republic (23.7 million ounces Au, +Ag +Cu), and is 15 km southeast from a deep water port at Fort Liberte, Haiti. A paved road leads into the NW corner of the property, and an electricity grid is present within 5 km of the property to the northeast.
In early 2011, SOMINE SA geologists sampled and mapped the northern half of the principal NNE-trending ridge on the SOMINE Property that also hosts: the Blondin porphyry copper deposit (historical of 50 million tonnes @ 0.56% Cu(i)); the Douvray porphyry copper deposit (historical resource of 69.5 million tonnes @ 0.39% Cu(i)); and the Dos Rada copper-gold occurrence (see Figure 1 accompanying this press release available at www.majescor.com).
The new copper-gold zone, termed the Matheliere zone, has a 2.4 km strike length and is up to 800 m wide. Surface grab samples of malachite-bearing altered andesite, gossanous rock and quartz - iron oxide rock yielded 35 (of 83) samples with greater than 1% Cu (further assays pending), and 9 samples with 0.5 to 9.0 ppm Au. Majescor and partner SOMINE SA are encouraged by these results, as they are very similar to the assay values and geology at the Blondin and Douvray deposits along trend to the SSE; as well as to the 3.5 km-long by 800 m-wide Dos Rada mineralization further along trend to the south-southeast on the property (see figure 1).
Majescor and partner SOMINE SA are finalising the design of a core drilling program which aims to define and expand the mineralization at the Douvray and Blondin copper - gold prospects. In addition, a comprehensive mapping, sampling and induced polarization program has been designed for the Matheliere and Dos Rada areas, with the goal to bring these new copper - gold discoveries to the drill stage within six months. For these programs, Majescor and SOMINE SA have contracted Buscore Consulting Ltd. (see Majescor Press Release dated May 19, 2011) who are presently mobilizing to the SOMINE Property.
(i) The historical resources estimates mentioned in this press release are for historical purposes only and are not compliant with CIM definition standards for Mineral Resources and Mineral Reserves, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The historical resource estimates were prepared prior to the implementation of NI 43-101 and use terminology not compliant with current reporting standards. Majescor has not made any attempt to re-classify the estimates according to current NI 43-101 standards of disclosure or the CIM definitions and is not treating the estimate as current mineral resources or mineral reserves as defined in NI 43-101. Historical estimates should not be relied upon. For additional details, please refer to the SOMINE Property NI 43-101 technical report available at www.sedar.com under Majescor Resources Inc.
Majescor and SOMINE Contract Buscore Consulting to Manage the SOMINE Copper-Gold Property Exploration Program, Haiti-Buscore to Design Core Drilling Program
MONTREAL, QUEBEC, May 24, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), its 100%-owned affiliate company SIMACT Alliance Copper-Gold Inc. ("SACG") and Haitian partner SOMINE SA are pleased to report that they have hired Buscore Consulting Limited to manage the exploration program on the SOMINE copper-gold Property ("SOMINE Property") located in the North-East mineral district of Haiti.
Buscore Consulting Limited ("Buscore") is an established international mineral exploration and mine development consulting company founded by Canadian geologists Dale Schultz and Bart Wilson. Prior to starting Buscore, both Mr. Schultz and Mr. Wilson worked on behalf of Aurelian Resources, where their work was fundamental in the discovery of the world-class Fruita del Norte epithermal gold-silver deposit. In addition to this, they have helped to discover and develop multiple precious and base metals prospects throughout the Americas.
Based out of Quito, Ecuador, Buscore is specialised in the design and management of mineral exploration projects in emerging minerals districts. The company provides high-level technical and project management services spanning the complete mineral development process from reconnaissance exploration through to target generation and testing as well as project scoping and feasibility studies. Over the past decade, Buscore's highly experienced team of exploration specialists from Canada, U.S.A., Britain, Belgium, Germany, and South Africa, have managed a series of mineral exploration and development projects in Latin America, notably across Ecuador and throughout Peru, as well as in Paraguay, Bolivia, Colombia, Nicaragua, Honduras and Mexico. The company's senior geologists have written press releases and or NI 43-101s for a number of Canadian companies including Aurelian Resources, Atlas Minerals, Avalanche Resources, Solex Resources, Arco Resources, Galway Resources, and Envirogold.
One of Buscore's first tasks on the SOMINE Copper-Gold project will be to implement the exploration program following the recommendations set forth in Majescor's National Instrument ("NI") 43-101 Technical Report on the property (the "Report"; available on www.sedar.com). Phase I of this program, estimated at $1.2 million, will comprise of the following: re-establishment of an exploration camp; extending surface grids; continued soil and rock chip sampling on grids; ground geophysical surveying (IP surveys) on the grids in areas not previously surveyed; a 3,500 m - 15 hole drill core drilling campaign focussing on the historical Douvray and Blondin porphory copper prospects and on new priority targets including the Dos Rada and Ti-Toro copper zones and the Vein 37 copper-gold prospect; as well as initial environmental baseline studies for subsurface and surface groundwater, noise and dust levels, and year-round weather conditions
Majescor and SOMINE Contract Buscore Consulting to Manage the SOMINE Copper-Gold Property Exploration Program, Haiti-Buscore to Design Core Drilling Program
MONTREAL, QUEBEC, May 24, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), its 100%-owned affiliate company SIMACT Alliance Copper-Gold Inc. ("SACG") and Haitian partner SOMINE SA are pleased to report that they have hired Buscore Consulting Limited to manage the exploration program on the SOMINE copper-gold Property ("SOMINE Property") located in the North-East mineral district of Haiti.
Buscore Consulting Limited ("Buscore") is an established international mineral exploration and mine development consulting company founded by Canadian geologists Dale Schultz and Bart Wilson. Prior to starting Buscore, both Mr. Schultz and Mr. Wilson worked on behalf of Aurelian Resources, where their work was fundamental in the discovery of the world-class Fruita del Norte epithermal gold-silver deposit. In addition to this, they have helped to discover and develop multiple precious and base metals prospects throughout the Americas.
Based out of Quito, Ecuador, Buscore is specialised in the design and management of mineral exploration projects in emerging minerals districts. The company provides high-level technical and project management services spanning the complete mineral development process from reconnaissance exploration through to target generation and testing as well as project scoping and feasibility studies. Over the past decade, Buscore's highly experienced team of exploration specialists from Canada, U.S.A., Britain, Belgium, Germany, and South Africa, have managed a series of mineral exploration and development projects in Latin America, notably across Ecuador and throughout Peru, as well as in Paraguay, Bolivia, Colombia, Nicaragua, Honduras and Mexico. The company's senior geologists have written press releases and or NI 43-101s for a number of Canadian companies including Aurelian Resources, Atlas Minerals, Avalanche Resources, Solex Resources, Arco Resources, Galway Resources, and Envirogold.
One of Buscore's first tasks on the SOMINE Copper-Gold project will be to implement the exploration program following the recommendations set forth in Majescor's National Instrument ("NI") 43-101 Technical Report on the property (the "Report"; available on www.sedar.com). Phase I of this program, estimated at $1.2 million, will comprise of the following: re-establishment of an exploration camp; extending surface grids; continued soil and rock chip sampling on grids; ground geophysical surveying (IP surveys) on the grids in areas not previously surveyed; a 3,500 m - 15 hole drill core drilling campaign focussing on the historical Douvray and Blondin porphory copper prospects and on new priority targets including the Dos Rada and Ti-Toro copper zones and the Vein 37 copper-gold prospect; as well as initial environmental baseline studies for subsurface and surface groundwater, noise and dust levels, and year-round weather conditions
Apogee Intersects 3.0 Meters Grading 659.00 g/t Silver and 1.85 g/t Gold and 5.0 Meters Grading 278.60 g/t Silver at the Pulacayo Deposit
TORONTO, ONTARIO, May 17, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE) reports assay results from eight additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia (See Table 1 below). All of the reported holes were drilled from surface.
The highlights from these holes include:
-- DDH PUD 178 intersected 2.6 meters grading 180.02 g/t silver, 0.08 %
lead, 0.52% zinc.
-- DDH PUD 181 intersected 5.0 meters grading 278.60 g/t silver, 1.26 %
lead and 0.93% zinc.
-- DDH PUD 182 intersected 3.0 meters grading 659.00g/t Ag, 0.02% lead,
0.18% Zn and 1.85 g/t Au and 3.0 meters grading 142.33 g/t silver, 0.04%
lead, 1.07% Zn and 0.36 g/t Au.
-- PUD 183 intersected 2.0 meters grading 294.00 g/t silver, 0.06% lead and
0.43% zinc in within a 5.0 meter interval grading 177.6 g/t silver,
0.04% lead and 0.30% zinc.
Alexco Reports Net Income of $3.5M and Operating Cash Flows of $7.2M in First Quarter of Production
VANCOUVER, BRITISH COLUMBIA, May 12, 2011 (MARKETWIRE via COMTEX News Network) --
Alexco Resource Corp. (TSX: AXR)(NYSE Amex: AXU) today announced the financial and operating results for the three months ended March 31, 2011, the third quarter of its 2011 fiscal year, which is also the first quarter of commercial production at its newly commissioned Bellekeno mine in the Keno Hill Silver District, Yukon. All dollar figures are expressed in Canadian dollars unless otherwise stated.
Third Fiscal Quarter Highlights
-- Net income for quarter of $3.5 million ($0.06 basic and diluted earnings
per share) and pre-tax income of $5.0 million on combined mining and
consulting services revenue of $20.5 million
-- Cash flows from operating activities of $7.2 million
-- Bellekeno mine revenue of $18.8 million and gross profit of $9.5
million, on sales of 3,083 tonnes of lead-silver and zinc concentrate
-- Production of 447,524 ounces silver, 3,682,304 pounds lead and 1,334,144
pounds zinc
-- Realized metal prices averaged US$39.88 per ounce silver, US$1.20 per
pound lead and US$1.07 per pound zinc
-- Cash costs of production(1) of $8.88 per ounce of payable silver
produced, net of by-product credits
-- Bellekeno ramp up continues, maintaining calendar year 2011 production
guidance of 2.8 million ounces silver, 18 million pounds lead and 8
million pounds zinc
(1) Cash costs of production per ounce of payable silver produced is a
non-GAAP measure with no standardized meaning prescribed under Canadian
GAAP. See page 13 of Alexco Q3 MD&A for explanation and reconciliation.
Alexco President and CEO Clynt Nauman said, "This was a historic, milestone quarter for us - our first full quarter as a silver producing company. We've started off well, despite the challenges of ramping up a mine in the middle of winter in the Yukon. Although there is always some uncertainty with the start up of a new mine that has no production track record, at this point our best estimate continues to be for about 2.8 million ounces of silver in calendar year 2011. As the only operating primary silver mine in Canada, and with exceptionally high grades and a mill with available capacity, we are now well positioned to review other mining opportunities in the Keno Hill Silver District. We are well funded for our extensive surface and underground exploration programs, and look forward to continuing success on all fronts."
Summary Financial Results and Information
-----------------------------------------------------------------------
---
-------------------------------------------------------------------
-------
(expressed in thousands
of dollars, except per Three Months Ended Nine Months Ended
share amounts) March 31 March 31
------------------------- -------------------------
2011 2010 2011 2010
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--------------------------------------------------------------------------
Revenue 20,471 1,281 23,857 3,731
Gross Profit 9,411 743 10,353 1,338
Income (Loss) Before
Taxes 5,013 (1,954) 2,198 (4,329)
Net Income (Loss) 3,542 (1,529) 2,353 (3,700)
Earnings (Loss) Per
Share - Basic and
Diluted $0.06 $(0.03) $0.04 $(0.08)
Cash Flows from
Operating Activities 7,216 (1,285) 3,518 (3,145)
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Bellekeno Mine Operations
The three months ended March 31, 2011 represent Alexco's first full quarter of mining operations, with commercial production at its new Bellekeno silver-lead-zinc underground mine and ore processing complex having commenced January 1, 2011. Located in the Keno Hill Silver District in Canada's Yukon Territory, through its first full quarter of operation the Bellekeno mine produced 3,477 tonnes of concentrate comprising 2,376 tonnes of lead-silver concentrate and 1,101 tonnes of zinc concentrate, recognized revenue of $18.8 million on sales of 3,083 tonnes of concentrate and yielded a gross profit of $9.5 million. Alexco's realized metal prices in the third fiscal quarter averaged US$39.88 per ounce for silver, US$1.20 per pound for lead and US$1.07 per pound for zinc. Ramp up of mine and mill operations to full optimized levels is continuing, but the estimate of production from Bellekeno for the full calendar year of 2011 remains unchanged at 2.8 million ounces of silver, 18 million pounds of lead and 8 million pounds of zinc.
Mine operations in the third fiscal quarter generally maintained pace with processing activity, and with significant stockpiled ore from the previous quarter Alexco used the opportunity to undertake additional mine development at Bellekeno during the period. The majority of this additional development was ramp up phase primary development, capitalized at $3.3 million. However, some of the new development was in preparation for a trial of local mechanized long-hole stoping, a more efficient mining method not historically used within the Keno Hill District. Average mill throughput during the quarter was 201 tonnes per day (tpd), with daily throughputs as high as 320 tpd. Once the initial ramp up phase is completed, the average daily throughput is anticipated to increase beyond 250 tpd and ultimately to be in the range of 350 to 400 tpd.
Operating statistics for Bellekeno since the commencement of commercial production on January 1, 2011 are summarized as follows:
-------------------------------------------------------------
---------
----------------------------------------------------
Bellekeno Mine F2011-Q3
-------------------------------------------------------------
Ore tonnes mined 16,461
Ore tonnes processed 18,050
Grade of ore processed:
Silver (grams per tonne) 829
Lead 10.0%
Zinc 5.0%
Recoveries:
-----------
Silver 93%
Lead in lead concentrate 90%
Zinc in zinc concentrate 56%
Concentrate production
----------------------
Lead concentrate:
Tonnes produced 2,376
Concentrate grade:
Silver (grams per tonne) 5,645
Lead 68.3%
Zinc concentrate:
Tonnes produced 1,101
Concentrate grade:
Silver (grams per tonne) 462
Zinc 46%
Production - contained metal
----------------------------
Silver (ounces) 447,524
Lead (pounds) 3,682,304
Zinc (pounds) 1,334,144
Sales volumes by payable metal
------------------------------
Silver (ounces) 386,083
Lead (pounds) 3,179,919
Zinc (pounds) 709,900
Cash costs of production(1)
------------------------
Per ounce of payable silver produced $8.88
-------------------------------------------------------------
-------------------------------------------------------------
(1) Cash costs of production per ounce of payable silver produced is a
non-GAAP measure with no standardized meaning prescribed under Canadian
GAAP. See page 13 of Alexco Q3 MD&A for explanation and reconciliation.
Keno Hill Exploration
The 2011 surface exploration program in the Keno Hill District was initiated in March, and is expected to complete approximately 15,000 meters of drilling at a number of targets across the District with surface exploration expenditures anticipated to be approximately $8 million. Surface exploration work will focus in a number of areas, including the new discoveries from last year in the Bermingham and Flame & Moth areas where the aim will be to define additional mineable silver resources.
Initial resource estimates for the Onek and Lucky Queen properties are currently in progress, as is an updated geological resource estimate for Bellekeno, and are expected to be released by mid calendar 2011. In conjunction with the completion of these resource estimates, over calendar year 2011 Alexco also intends to aggressively progress towards the development of its most advanced exploration properties within the District. Subject to receiving appropriate permits, the Company anticipates initiating advanced exploration work at the Onek, Lucky Queen and Silver King Mine areas, with the objective of enabling Alexco to make production decisions for each property in late 2011 or early 2012. This work, which also commenced in March and is currently estimated to cost approximately $10 million, includes approximately 1,500 meters of surface definition drilling in the vicinity of the historical Onek mine; approximately 1,500 meters of underground rehabilitation and development work at the historical Lucky Queen mine, in advance of approximately 2,500 meters of underground definition drilling; and a review of underground ore definition and mining options at the historical Silver King mine.
In addition, engineering and feasibility related work continues on Alexco's Elsa tailings project, where approximately 9.5 million ounces of silver have been defined within approximately 2.5 million tonnes of historical Elsa tailings (see news release dated May 6, 2010 entitled "Alexco Announces Initial Elsa Tailings Resource Estimate, Keno Hill").
Alexco Environmental Group
Separately, the Corporation's environmental consulting services business, the Alexco Environmental Group (AEG), recognized revenues of $1.7 million during the third fiscal quarter, compared to $1.3 million in 2010. Consulting costs for the quarter totaled $1.8 million, resulting in a gross loss in the quarter of $96,000. Gross profit in 2010 was $743,000, including a gain of $258,000 from a favourable re-assessment of the estimated consulting services contract loss provision. The pressure on margins from the Keno Hill care and maintenance and reclamation plan development activities is expected to continue until the closure reclamation plan is implemented, though discussions with Government to mitigate that impact are ongoing. Also, significant up-front costs were incurred in the quarter on the inception of a new AEG private sector contract which were recovered on a break-even basis, though billings under this contract are expected to be at normal profitable margins going forward.
Financial Position
Alexco's cash and cash equivalents at March 31, 2011 totaled $45.2 million compared to $27.6 million, including current restricted cash and deposits, at June 30, 2010, while net working capital totaled $51.2 million compared to $20.7 million for the same dates respectively. The increases in cash and net working capital primarily reflect net cash proceeds of $38.9 million received from a bought deal equity financing completed in December 2010 plus the results of operations from the Bellekeno mine since the commencement of commercial production. These increases were partially offset by expenditures on the 2010 and 2011 exploration programs within the Keno Hill District, as well as expenditures made by Alexco pertaining to the development, construction and commissioning of Bellekeno in excess of amounts funded through deposit amounts received from Silver Wheaton Corp.
Full Interim Report and Conference Call
Full details of Alexco's third fiscal quarter financial and operating results are described in the March 31, 2011 unaudited interim consolidated financial statements with accompanying notes and related Management's Discussion and Analysis. These documents and additional information on Alexco are available on the Company's website at www.alexcoresource.com and on SEDAR at www.sedar.com.
Alexco is holding an audio webcast conference call to discuss these results at 11 a.m. Eastern (8 a.m. Pacific) on Friday, May 13, 2011. To participate in the live call, please use one of the following methods:
Dial toll free from Canada or the US: 1-877-407-8031 Dial from outside Canada or the US: 1-201-689-8031 Live audio webcast: www.alexcoresource.com
Participants should connect five to ten minutes before the call.
The conference call will be recorded, and an archived audio webcast will be available at www.alexcoresource.com. Through May 18, 2011, a replay of the call will be available by telephone at the following:
Dial toll free from Canada or the US: 1-877-660-6853 Dial from outside Canada or the US: 1-201-612-7415 Replay Passcodes: Account #286, Conference ID #372262
Qualified Persons
The scientific and technical information on which this news release has been based regarding exploration projects on Alexco's mineral properties has been prepared by or under the supervision of Alan McOnie, FAusIMM, Vice President, Exploration with Alexco, while such information regarding mine development and operations at Alexco's mineral properties, including Bellekeno, has been prepared by or under the supervision of Thomas Fudge, P.E., Senior Vice President, Engineering and Corporate Development for Alexco. Both have reviewed this news release, and both are Qualified Persons as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill Silver District is the second-largest historical silver producer in Canada.
About Alexco
Alexco is first and foremost a silver mining company, whose business is to unlock value and manage risk at mature, closed or abandoned mine sites through integration and implementation of the Company's core competencies which include management of environmental services, execution of mine reclamation and closure operations and if appropriate, rejuvenation of exploration and development of new mining opportunities. Alexco's Bellekeno mine is the only primary silver mine in Canada.
Some statements in this news release contain forward-looking information concerning the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements with respect to future remediation and reclamation activities, future mineral exploration, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, future mine construction and development activities, future mine operation and production, the timing of activities, the amount of estimated revenues and expenses, the success of exploration activities, permitting time lines, requirements for additional capital and sources and uses of funds. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of exploration and development activities; actual results of mining activities; actual results of consulting activities; actual results of remediation and reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineable resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices.
Contacts: Alexco Resource Corp. Clynton R. Nauman President and CEO 604-633-4888 604-633-4887 (FAX) info@alexcoresource.com www.alexcoresource.com
SOURCE: Alexco Resource Corp.
mailto:info@alexcoresource.com http://www.alexcoresource.com
Copyright 2011 Marketwire, Inc., All rights reserved.
Allana Potash Intersects More Shallow Potash
TORONTO, ONTARIO, May 05, 2011 (MARKETWIRE via COMTEX News Network) --
Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-11-17 intersected significant potash mineralization of 31.03% KCl over 1.00 metre starting at a depth of 74.20 metres. Hole 17 intersected two zones of potash mineralization which are interpreted to represent the Sylvinite Zone and Kainitite Zone. The Sylvinite Zone returned 2.00 metres of sylvinite which graded 19.38% KCl and includes a 1.00 metre interval that returned 31.03% KCl. Further down the hole, 7.50 metres of Kainitite was intersected which returned 17.68% KCl.
Farhad Abasov, President and CEO, commented: "I am very excited about the continued success of the drilling in this previously unexplored southwestern part of the property. The shallow depth of the potash mineralization intersected in Hole 17 remains encouraging for evaluation of open pit mining. Historically this region was unexplored with no previous drilling and Allana now has intersected potash in all five holes on this part of the property. Management intends to incorporate Hole 17 data in the Company's upcoming National Instrument 43-101 technical report."
Alexco Releases Initial Production Results for Bellekeno Mine; On Track for 2011 Silver Production of 2.8 Million Ounces
VANCOUVER, BRITISH COLUMBIA, May 03, 2011 (MARKETWIRE via COMTEX News Network) --
Alexco Resource Corp. (TSX: AXR)(NYSE Amex: AXU) today reported the first full quarter production results from its newly commissioned Bellekeno mine and mill in the Keno Hill Silver District, Yukon.
First Quarter Highlights
-- Silver Production of 447,524 ounces -- Lead Production of 3,682,304 pounds -- Zinc Production of 1,334,144 pounds
As planned, production activity at the Bellekeno mine during the first three months of calendar 2011 included optimization of the mill circuit using a blended ore feed from both underground mining and stockpile inventories to stabilize the ore feed grade and character. This managed ore feed approach to initial production at the Bellekeno mill has resulted in increased metal recoveries and higher values for initial concentrate shipments. Alexco President and Chief Executive Officer Clynt Nauman said, "The mine and mill crews have done an outstanding job in challenging weather conditions to bring our Keno Hill Silver District back into production after twenty years of dormancy."
Processed ore for the quarter was 18,050 tonnes at a grade of 829 grams per tonne silver, 10.0% lead and 5.0% zinc. Mine production during the same period was 16,461 tonnes at an average grade of 1,062 grams per tonne silver, 12.5% Pb and 7.1% zinc. Metallurgical recoveries for silver, lead and zinc were 93%, 90% and 56% respectively, with 90% of the silver reporting to the lead concentrate.
Nauman said, "We have some remaining mill modifications and production efficiencies to implement, and we are confident that as a result of those improvements, the daily throughput of the mine and mill will systematically continue to increase. We are maintaining our current guidance for calendar year 2011 production of 2.8 million ounces of silver."
Average mill throughput during the quarter was 201 tonnes per day (tpd), with daily throughputs as high as 320 tpd. Once the initial ramp up phase is completed, the average daily throughput is anticipated to increase beyond 250 tpd and ultimately to be in the range of 350 to 400 tpd. The lower average daily throughput for the quarter was a result of intermittent interruption of processing for mechanical modifications of the mill circuit, coupled with the normal challenges of ramping up a new mill during a winter quarter. By the end of the quarter, average mill availability was greater than 90%. Mechanical optimization of pumping and piping circuits will continue in the second quarter of calendar 2011, with focus on the grinding/classification balance as well as additional work to improve zinc recovery.
There was considerable stockpiled ore available in the first quarter of calendar 2011, allowing for additional mine development totaling 244 meters at Bellekeno. Some of this development is in preparation for local mechanized long-hole stoping, an efficient mining method not previously tried at Keno Hill. Overall, mine operations in the first quarter of calendar 2011 generally maintained pace with processing activity while ending the quarter with a broken ore stockpile of approximately 9,500 tonnes.
Total silver production to date from Bellekeno, including results from commissioning during the fourth calendar quarter of 2010, is 573,541 ounces.
The scientific and technical information about mine development and operations at the Bellekeno project on which this news release has been based was prepared by or under the supervision of Thomas Fudge, P.E., Senior Vice President, Engineering and Corporate Development for Alexco. Mr. Fudge has reviewed this news release, and is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Bolivia's president nothing but hot air ...
http://www.marketwatch.com/story/bolivia-backpedals-on-glencore-pan-am-mines-2011-04-20
WILDCAT DRILL RESULTS INCLUDE 26 METRES OF 346.52 G/T SILVER, 12.24% MANGANESE, 3.16% ZINC, 4.22% LEAD AND 0.30% COPPER
VANCOUVER, Apr 18, 2011 (Canada NewsWire via COMTEX News Network) --
Wildcat Silver Corporation (TSX-V: WS) ("Wildcat" or "the Company") is pleased to announce the results for an additional 11 holes completed on the Company's Hermosa property located in Santa Cruz County, Arizona.
Of the 11 holes reported, seven holes are step-out holes (Hole HDS-117, HDS-118, HDS-128, HDS-130, HDS-131, HDS-133 and HDS-135). The Company continues to focus on increasing the width and length of the current resource and these results further support the extension of mineralization.
A complete list of drill intercepts, location map and 3D model of the Hermosa mineralization are available on the company's website at www.wildcatsilver.com.
Step-out Holes
HDS-117 was drilled across or in the northwest-southeast trending American Fault and connects the down dropped mineralization intersected in previously disclosed holes HDS-121 and HDS-119 (see map attached). Of note, HDS-117 intersected 25.9 metres of 346.52 g/t silver, 12.24% manganese, 3.16% zinc, 4.22% lead and 0.30% copper, demonstrating excellent silver, manganese, lead and zinc grades.
HDS-118, a step-out of approximately 150 metres to the north of the existing resource, intersected significant thicknesses of manganese, lead and zinc mineralization with moderate silver grades. HDS-130, a larger step out to the north of HDS-118, intersected a horizon of strong manganese.
The Company is prioritizing drilling to expand the resource in the north and east directions, particularly across the American Fault, as mineralization there appears to be demonstrating more robust silver and manganese grades.
HDS-135, located in the very south end of Wildcat's patented claims, intersected a thin horizon of strong manganese mineralization with moderate silver.
HDS-128, HDS-131 and HDS-133 are located west of the current resource. HDS-128 and HDS-131 intersected thin to moderate thicknesses of moderate silver grades while HDS-133 intersected two horizons of moderate to strong manganese grades.
Infill Holes
HDS-124 encountered two distinct zones of mineralization. The upper zone hosts low manganese but silver of 113.8 g/t over 18.3 metres. The lower horizon is 22.9 metres thick containing strong manganese mineralization of 8.74% with 178.4 g/t silver. Within the lower zone there are two higher grade zones of 4.6 metres and 3.0 metres averaging 7.86% manganese and 440.8 g/t silver and 23.2% manganese and 397.5 g/t silver, respectively.
HDS-126 is located in the southern portion of the current resource and intersected three intervals of moderate manganese. HDS-127 is located on the eastern margin of the current resource and intersected mineralization characteristic for the upper horizon in the area with low manganese and moderate silver grades.
HDS-134 is located between previously reported holes HDS-112 and HDS-113. This drill hole ties that mineralization together and expands the resource to the east. In the upper horizon this drill hole encountered 12.2 metres of 9.35% manganese with strong silver grades of 318.4 g/t. In the lower horizon the drilling encountered 33.5 metres of strong manganese and silver mineralization accompanied by significant lead and zinc.
A summary of the drill results are provided below. Please also see attached map.
_________________________________________________________________________
|Drill | | From | To |Interval| Ag | Mn | Zn | Pb | Cu |
| Hole | |(metres)|(metres)|(metres)| g/t | % | % | % | % |
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-117| | 39.6 | 64.0 | 24.4 |23.09 | 0.02 |0.01 |0.11|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-117| | 147.9 | 173.8 | 25.9 |346.52|12.24 |3.16 |4.22|0.30|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-117| | 182.9 | 214.9 | 32.0 |84.56 | 6.75 |4.39 |1.42|0.10|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-117| | 214.9 | 237.8 | 22.9 |13.09 | 1.31 |9.28 |0.18|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-118| | 209.0 | 216.9 | 7.9 |101.22|16.50 |1.94 |4.50|0.29|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-118| | 261.3 | 275.0 | 13.7 |25.11 |18.82 |9.24 |1.56|0.06|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-118| | 320.7 | 329.9 | 9.1 |73.61 |11.18 |3.73 |2.50|0.23|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-118| | 360.1 | 375.5 | 15.4 |130.25| 8.39 |4.91 |9.02|0.26|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-124| | 0.0 | 18.3 | 18.3 |113.8 | 0.47 |0.03 |0.50|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-124| | 33.5 | 56.4 | 22.9 |178.4 | 8.74 |0.80 |0.60|0.05|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-124|includes| 33.5 | 38.1 | 4.6 |440.8 | 7.86 |0.26 |0.36|0.06|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-124|includes| 48.8 | 51.8 | 3.0 |397.5 |23.20 |2.76 |2.53|0.18|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-126| | 68.6 | 86.9 | 18.3 | 45.8 | 2.42 |0.06 |0.24|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-126| | 91.5 | 97.6 | 6.1 | 51.1 | 2.93 |0.10 |0.11|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-126| | 111.3 | 137.2 | 25.9 | 12.4 | 3.99 |4.96 |0.04|0.01|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-127| | 15.2 | 44.2 | 29.0 |88.87 | 0.34 |0.05 |0.48|0.04|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS128 | | 42.7 | 59.5 | 16.8 |74.93 | 3.18 |0.38 |0.33|0.04|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-130| | 152.4 | 155.5 | 3.0 |44.35 |17.52 |0.51 |0.82|0.05|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-131| | 13.7 | 32.0 | 18.3 |56.55 | 1.71 |0.15 |0.16|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-133| | 39.6 | 48.8 | 9.1 | 38.5 | 5.71 |0.85 |0.22|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-133| | 65.5 | 68.6 | 3.0 | 63.7 |13.48 |0.93 |0.25|0.01|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-134| | 77.7 | 89.9 | 12.2 |318.4 | 9.35 |0.68 |8.18|0.31|
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-134| | 97.6 | 131.1 | 33.5 |199.0 |15.12 |4.81 |3.23|0.36|
|_______|________|________|________|________|______|______|_____|____|____|
| | | | | | | | | | |
|_______|________|________|________|________|______|______|_____|____|____|
|HDS-135| | 45.7 | 48.8 | 3.0 | 95 |18.585|0.925|0.26|0.02|
|_______|________|________|________|________|______|______|_____|____|____|
The Company will continue to aggressively drill with focus on step-out drilling in the north and east directions and enough in-fill drilling to achieve the objective of significantly expanding the size and quality of the current resource. Wildcat has four drills operating on the property (two core and two reverse circulation).
Qualified Person The results of Wildcat's drilling results have been reviewed, verified and compiled by Don Taylor, MSc., PG, vice president of exploration for Wildcat Silver, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a Licensed Professional Geologist in several US states.
Assays and Quality Assurance/Quality Control To ensure reliable sample results, Wildcat has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at Skyline Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. Skyline Laboratories prepares two pulps of all samples and completes analysis of one pulp sample by ICP for Cu% (copper), Pb% (lead), Zn% (zinc) and Mn% (manganese). The second pulp is shipped to Inspectorate Labs, an ISO: 9001-2008 accredited laboratory in Reno, Nevada, where the duplicate pulp is analyzed for Au (gold) and Ag (silver). Silver values are determined by fire assay (1 AT) with an AA finish. For all samples that assay greater than 200 ppm Ag, the sample is re-run using fire assay (1 AT) with a gravimetric finish. In certain holes Skyline also completes analysis of the pulps for Au (FA/AAS) and Ag by (Aqua Regia digestion and AA finish). If over 150 g/t, all Silver assays are redone using FA/Grav finish at 1AT.
About Wildcat Wildcat is a Canadian mineral exploration company focused on development of Hermosa, its 80% owned silver project located in Santa Cruz County, Arizona. The project currently has an indicated mineral resource of 6.0 million tonnes averaging 187.8 grams per tonne silver for a total of 36 million ounces of silver in addition to an inferred mineral resource of 46.3 million tonnes averaging 58.6 grams per tonne silver for a total of 85 million ounces of silver. The Company has completed an updated preliminary economic assessment which contemplates an 18 year mine life with expected annual production in excess of 6 million ounces of silver for the first full six years of production.
Wildcat trades on the TSX Venture Exchange under the symbol WS.
TORONTO (miningweekly.com) – Vancouver-based Pan American Silver is trying to get answers from Bolivian officials, after reports that the government may rescind control of privately-held mining concessions.
President Evo Morales' government could target contracts for operations including Pan American's San Vicente mine, as well as mines owned by Glencore International, the La Razon newspaper reported this week.
US-based Coeur d'Alene Mines also has an operation in the country, but says its property rights are not the subject of expropriation.
Shares in both Pan American and Coeur fell on Thursday.
“We are as surprised as anybody else, all the information we have is from the media reports,” Pan American spokesperson Kettina Cordero said in a telephone interview.
“We have tried to get clarification from government officials,” she said, adding that no answers have been received yet. The company will monitor the situation and provide updates when available.
The San Vicente mine continues to operate normally, Cordero said.
Shares in Pan American Silver fell 9,32% in Toronto on Thursday, to C$35,89 apiece by 16:36.
The company, which operates eight mines in Mexico, Peru, Argentina and Bolivia, expects to produce between 23-million and 24-million ounces of the precious metal this year.
Glencore, which announced details of its initial public offering earlier on Thursday, could not immediately be reached for comment. The company's Bolivian operations include the Colquiri, Porco and Bolivar mines.
The Bolivian government expropriated the group's Vinto tin smelter in 2007. Glencore bought the previously State-owned asset from former President Gonzalo Sanchez de Lozada two years earlier.
PRESIDENTIAL SUPREME DECREE
Bolivia could rescind the concessions for mines whose title was transferred from the State to private entities, if unions at the operations demand that the government take back control of the assets, Mining Minister Jose Pimentel was quoted as saying on Thursday.
Pimentel said at a news conference that mining unions are asking the state to "recover" the silver, zinc, lead and tin mines currently operated by private firms, Reuters reported.
Pimentel said the government did not plan to target mining projects that have been private investments from the start, such as Sumitomo's San Cristobal, Reuters said.
US-based Coeur d'Alene Mines, which operates the San Bartolome mine in Bolivia, is not affected and its property rights are not the subject of expropriation, spokesperson Tony Ebersole said in an emailed response to questions.
The title of the company's mine already belongs to the State and is backed by presidential supreme decree, he said.
In his remarks on Thursday, Pimentel “stated clearly the government was not contemplating nationalization of all mining interests”, Ebersol added.
Surface mining and silver production from San Bartolome is operating as usual, and the mine has the support of local unions, he said.
Coeur shares fell 9,94%, to $31,08 apiece by 16:02 in New York.
Apogee Silver Responds to Reports of Possible "Recovery" of Certain Bolivian Mines
TORONTO, ONTARIO, Apr 15, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES
Apogee Silver Ltd. (TSX VENTURE:APE) ("Apogee" or the "Company") wishes to respond to recent reports that, subject to union demands, certain silver, zinc, lead and tin mines currently operated by foreign companies may be "recovered" by the Bolivian state. A spokesman for COMIBOL, the Corp. Minera de Bolivia, was quoted as saying the government may issue a decree on May 1, 2011 in this regard.
Apogee understands that several unions operating at foreign controlled mines have communicated with the government that they oppose any "recovery" of such mines by the government. Apogee believes that remuneration and employment standards are generally high at these operations.
The Pulacayo mine, in the Potosi region of southwest Bolivia, is Apogee's principal asset. Apogee and the Pulacayo Mining Cooperative (which is part of FENCOMIN, the national federation of mining cooperatives) jointly hold a renewable lease until 2025 of the concessions from COMIBOL, which relationship is defined in a joint venture agreement executed in 2002. The agreement stipulates that Apogee is the financing and managing partner. In addition, a royalty is to be paid to the Pulacayo Mining Cooperative and COMIBOL under the joint venture and lease agreements respectively.
Apogee does not presently have a union at the Pulacayo mine and the Company believes it enjoys significant support from the local community, as well as the Pulacayo Mining Cooperative.
The Company does not believe at this time that it will be impacted by any "recoveries" that may or may not occur.
Apogee is continuing with its on going drilling program at Pulacayo where it presently has four diamond drills operating. As announced on April 6, 2011, Apogee expects to use the net proceeds from the bought deal private placement offering announced on such date to fund further exploration and development activities at the Pulacayo deposit, as well as to advance the Pulacayo project towards production and for general corporate purposes.
Allana Potash Continues to Intersect High Grade Potash at Shallow Depths With 47.81 % KCL Over One Metre
TORONTO, ONTARIO, Apr 11, 2011 (MARKETWIRE via COMTEX News Network) --
Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-11-13 intersected significant potash mineralization including one metre of 47.81% KCl. Hole DK-11-13 intersected two robust potash zones which appear to correlate with the Sylvinite Zone and Kainitite Zone. The Sylvinite Zone returned 2.8 metres of sylvinite which graded 45.86 % KCl and includes a one metre interval that returned 47.81% KCl. Further down the hole, 8.7 metres of kainitite was intersected which returned 22.91% KCl.
Farhad Abasov, President and CEO, commented: "We are very pleased with the very strong drill results from Hole 13 which again, similar to holes 9 and 10, extends the potash mineralization from the Musley Deposit an additional 1200 metres to the east. Particularly encouraging is the high grade encountered in this hole, 47.81 % KCl over one metre within a robust zone of sylvinite measuring approximately 2.8 metres. These grades are impressive, surpassing the significant grades intersected in Hole 11 and representing the highest grades intersected to date. Management intends to incorporate Hole 13 data in the Company's upcoming National Instrument 43-101 technical report."
Hole 13 was collared approximately 1200 metres northeast from Hole 10 and was drilled vertically (see attached figure). Hole 13 intersected two prominent zones (Sylvinite and Kainitite) of potash mineralization including one metre of 47.81% KCl in the core of the Sylvinite Zone within a wider intersection of 2.8 metres which returned 45.86% KCl. A strong Kainitite Zone was also intersected in this drill hole and returned 8.7 metres of 22.91% KCl. These drill results, combined with those of holes 9 and 10, continue to support the extension of the Musley Deposit approximately 1200 metres east of the historic drilling and management believes shows significant potential to increase the potash resource. Samples are currently being selected for XRD analysis to determine mineralogy. True widths of the potash zones are estimated to be very similar to drilled widths due to the flat-lying nature of the potash horizons. The zones of potash mineralization are outlined in the following table:
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HOLE ID FROM (m) TO (m) WIDTH (m)(i) KCL (%) ZONE
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DK-11-13 224.40 227.20 2.80 45.86 Sylvinite
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Including 224.40 225.40 1.00 47.81 Sylvinite
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342.00 350.70 8.70 22.91 Kainitite
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(i)Drilled width
Exploration drilling is continuing in the southwestern part of the property at Holes DK-11-12 and DK-11-19 to further delineate the extent of the potash mineralization. Samples from DK-11-14, 15, 16, 17 and 18 are en route to the laboratory in Saskatoon, Canada.