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Thanks Cush. I don't own any of this one either. I just came across the chart and thought it looked good. If I was going to buy it, I would feel better if the base was longer. From the chart, it looks like there may be a lot of sellers (as the price increases) from when the stock was trading at higher prices.
I've added another company to the header, GeoAfrica Gold Corporation. It's not listed but it looks interesting.
Float quoted market values for the juniors on the list based on Friday's closing price:
St Jude $25.5 million
North Atlantic Nickel $20.4 million
Birim Goldfields $9.3 million
Robex $7.2 million
AMI Resources $7.0 million
PMI Ventures $5.8 million
Cassidy $5.4 million
Great Quest $4.5 million
Search Gold $2.9 million
Jilbey $1.8 million
Here is an interesting chart, a bit off topic but it is relevant to the bear market we are in with the broader market.
http://www.gold-eagle.com/editorials_01/seymour062001.html
tf
Hi Cush
What do you think of the chart for Westaim WED? It looks to me like its crossed above its 50 and 200 day moving average on pretty good volume.
http://finance.yahoo.com/q?s=WED.TO&d=c&k=c2&p=m50,m200
tf
There is an interview with John Embry posted on Kitco today.
http://www.kitco.com/ind/GoldReport/apr112003.html
tf
Here is the news:
NOVAWEST RESOURCES INC.
Suite 1000, The Marine Building, 355 Burrard Street
Vancouver, BC, Canada V6C 2G8
Phone: (604) 683-8990
Toll Free: 1-800-663-8990
Fax: (604) 574-5139
E-Mail: novawest@novawest.com
TSX Venture Exchange
Trading Symbol "NVE" S.E.C. Exemption 12(g)3-2(b)
File No. 82-3822
Standard & Poors Listed
$12 Million Joint Venture On Raglan Ni-Cu-PGM-Co Project
April 10, 2003
NovaWest Resources Inc.(the "Company") Symbol "NVE" on the TSX Venture Exchange is pleased to announce that the Company has entered into an Option Agreement with Cascadia International Resources Inc. ("Cascadia") of Vancouver, Canada- Symbol "CJ" on the TSX Venture Exchange, whereby Cascadia may earn a 50% interest in the Company's 660 sq. km. (161,500 acre) Raglan Ni-Cu-PGM-Co Assemblage situated in northern Quebec (the "Raglan Claims".
Cascadia may earn its 50% interest in the Raglan Claims by paying the Company $300,000 cash and 1,500,000 common shares of Cascadia stock over three years; arranging a $1.125 million brokered or non-brokered private placement for Novawest to close by May 1, 2003, and contributing exploration dollars to assure a total of $12 million is spent on exploration on the property over three years. The two companies have agreed on exploration commitments of $3.2 million in Year One, $4.3 million in Year Two, and $4.5 million in Year Three. Cascadia's interest will vest 25% in th Raglan Claims and Permits after meeting the first and second year's combined commitments and a further 25% after meeting the third year's commitments. Under the Agreement, Novawest will be the Operator. A Management Committee will be formed made up of 5 individuals, three from Novawest and two from Cascadia. Novawest will contribute $1 million of the private placement proceeds to the exploration expenses in year one and any proceeds up to $1.5 million derived from the exercise of the warrants associated with the private placement in year two. Expenses, such as advance royalties, claim renewal fees, etc. incurred to maintain the 660 sq. km. (161,500 acre) Raglan Assemblage will be shared equally by the companies. At present, the majority of the claims and Permits making up the Raglan Assemblage are in good standing until 2005, have approximately $550,000 in banked work credits, and are only subject to a $30,000 annual advance royalty. An agreed Area of Influence will cover the entire Cape Smith/Raglan Belt extending from Ungava Bay to the east and Hudson Bay to the west. Cascadia has been provided with the Right to Accelerate its earn-in, at its discretion, any time within the three-year term, as well as an additional Acceleration Provision whereby Cascadia my accelerate its 50% earn-in immediately upon paying Novawest all unpaid cash, stock and exploration commitments. This second provision is intended to cover Cascadia should a third party wish to simultaneously buy-out the interests of both parties.
As part of the Option, Novawest will undertake a $1.125 million Private Placement, to be arranged by the Optionee, by way of the issuance of 3 million units at $0.375 per unit. Each Unit will be comprised of one share and warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.50 per share. The warrants will expire on April 30, 2004. By arranging the private placement the Optionee will be credited with $1 million towards its exploration commitments. Funds of up to $1.5 million derived from the exercise of the warrants will be credited to the Optionee's second year's exploration commitments. Any shares issued with regard to the private placement and the exercise of the warrants will be subject to any applicable hold periods.
A finder's fee, within the TSX Venture Exchange's policy guidelines will be paid in shares with regard to the value derived from the Option Agreement. All terms of the Option are subject to the approval of the TSX Venture Exchange.
Novawest would like to thank and acknowledge Mr. David Baker of D. Baker Capital Inc. of Vancouver, Canada for all of his company's efforts, input, and assistance in seeing this strategic business arrangement through from conception to completion. Mr. Baker's experience and expertise has contributed immensely to both company's ability to negotiate and complete this agreement. We look forward to the future contributions of D. Baker Capital Inc. in achieving our Company's future milestones and goals.
In addition to the $12 million in exploration commitments agreed to under the Option, Novawest will be contributing a further $350,000 from a recently announced private placement with SIDEX to the first years exploration expenditures, bringing the first years planned expenditures to a total of $3,550,000. This additional $350,000 will be applied to the airborne geophysical portion of the exploration. In exchange for the cash contributions being made by Novawest, Cascadia has agreed to waive any interest it may have to any grants, credits and refunds under Government of Quebec Incentive Programs.
The planned 2003 Raglan exploration program includes approximately 6600 line kilometers of airborne geophysical surveying, extensive ground geophysics, prospecting and sampling, and approximately 20,000 feet of diamond drilling. It is expected that the multi-phase program will commence in late April and run until fall 2003.
Novawest's expansive Raglan Assemblage has taken 7 years to assemble and is strategically situated between two of the world's largest metal producers Falconbridge and Anglo American. Available data indicates that the west, central and east horizons of all three of the important stratigraphies of the Raglan Belt are now mostly covered by the extensive holdings of Anglo American to the west, Novawest Resources in the centre, and Falconbridge Limited to the east and north. Collectively, these companies now encompass approximately two thousand sq. kms. at Raglan. The straddling of all three of the Raglan trends, the North Trend, the main Raglan Trend and the South Trend is a situation that appears to only be apparent on the Raglan holdings covered by Novawest Resources Inc.'s Raglan Assemblage and Falconbridge Limited's adjoining holdings most of which hosts it's producing Raglan deposits.
Maps and Information Packages on the Raglan Camp and the Company in general can be obtained by contacting Novawest at 1-800-663-8990 in North America or 604-683-8990 from elsewhere.
NovaWest invites the public to visit its website at http://www.novawest.com or e-mail us at novawest@novawest.com to be added to the Company's e-mail list for press releases and updates.
ON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RESOURCES INC.
"Patrick D. O'Brien - Chairman"
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.
Pillar now drilling:
News Release
April 10, 2003
Drilling Underway at the Marimba/Holly Prospects in Guatemala
Pillar Resources Inc. is pleased to announce that the drill has arrived at the Cerro T Gold Zone located within the Marimba Property in Guatemala and drill testing of this target will commence immediately.
The Marimba Property and Holly Property are held under option from Radius Explorations Ltd. The option agreements grant Pillar the right to earn a sixty percent interest in these properties by completing certain cash payments and property expenditures over a maximum four year earn-in period (see news releases 2002-01, May 28, and 2003-07, March 31).
Together, these prospects form a contiguous zone covering a 25+ km strike length of the productive Jocotan Fault Zone in Eastern Guatemala. The Jocotan Fault is host to two producing gold mines in neighbouring Honduras. Work to date on the Marimba/Holly properties has identified both volcanic hosted high-grade gold bearing structures/breccias, and low-grade bulk tonnage, sediment hosted gold targets in a text-book epithermal gold setting.
Cerro T falls into the category of sediment hosted gold targets. Silicified and brecciated limestone bodies have been identified forming the dip-slope of the north face of the Cerro T hill. Rock and soil geochemical results indicate that the gold zone is continuous across the entire face, an area of 1,200m by 600m. Trenching completed to date confirms an average grade of 1+ g/t gold. This first pass wide-spaced drill program at Cerro T will test the thickness of the gold zone and continuity of the gold grade. The target has the potential to host 18+ million tonnes at 1+ g/t gold giving only a 10m thickness to the gold mineralized blanket.
Many other gold zones exist within the Marimba/Holly property package, including the Trail Zone where previous drilling has intersected 6 m averaging 43.5 g/t gold and 1,617 g/t silver hosted by silicified limey mudstones. This zone is open in all directions. The Holly Ridge Zone is a high grade vein cutting volcanoclastics where previous drilling intersected 3.6 m averaging 22 g/t gold and 697 g/t silver. At the Lantiquin Zone, soil sampling and trenching have identified a broad gold zone hosted by silicified and carbonate altered volcanic rocks.
On a broad scale the gold mineralized systems located in the Marimba/Holly corridor are controlled by north-south trending extensional faults intersecting the east-west Jocotan structure, localizing the emplacement of Rhyolite Domes and giving rise to geothermal systems that are gold bearing. There is potential for several deposits and deposit types in this corridor.
For further information on Pillar Resources, please call toll free 1-888-627-9378 or visit our web site @ www.pillargold.com.
ON BEHALF OF THE BOARD Symbol: TSXV-PRI
Shares Issued: 10.6 million
"signed"
Simon T. Ridgway, President
Hi Marcos
Go to this post for the link:
http://www.investorshub.com/boards/read_msg.asp?message_id=770734
tf
I finally got around to listening to Tuesday's Market Call program. Very good exposure for Moydow. The first caller asked John Embry about it and he said he liked it and that it was "extremely undervalued". Later in the show he went out of his way to mention Moydow again and said "literally its a gift".
Definitely worth listening too.
tf
After taking a look at it a bit closer I have to agree with Eric on this one. Do they really think they will find a market for their gravel in Africa? Also, what sort of gravel will they be coming up with? Gravel needs some amount of crushing in order to make it useful for engineering purposes whether road building or for concrete and that costs money. I can't see the gravel being economic in any way and if their business plan is going to have any chance at all they better find a lot of placer gold.
tf
PMI Ventures
THe following is a sample report from Lawrence Roulston's Resource Opportunities.
http://www.resourceopportunities.com/s/RecentSampleReports.asp#pmi
PMI Ventures Ltd.
(PMV-TSXV)
PMI recently acquired control of a vast property position in the midst of one of the most productive gold mining regions in world. The property was explored in the past, but on a piecemeal basis by several different companies. Over the past couple of years, a private company accumulated property positions and assembled the data from the past exploration programs.
A comprehensive review and evaluation of that data demonstrates considerable potential for major gold discoveries on that property, and led PMI to secure an option on the property package. The property extends for 50 kilometers along the Asankrangwa Gold Belt in Ghana, covering 486 square kilometers. PMI can acquire 85% of the interest held by the private company in return for $260,000 in cash payments and 3 million of its shares, payable over three years.
Ghana, in West Africa, has a long history of gold production, as evidenced by the name while it was a British colony -- Gold Coast. At present, Gold Fields is mining the 37 million ounce Tarkwa deposit and Ashanti Goldfields is mining the 45 million ounce Ashanti deposit, with several smaller mines adding to Ghana's stature as an important gold producer.
Ghana is one of the most developed countries in the central African region. It has been a democracy for most of the period since it gained independence from Britain in 1957. Mining is one of the most important aspects of its economy.
Newmont announced last month that it will develop two mines in Ghana at a capital cost of $450 million. That news should help to re-focus investor and mining industry attention on the enormous gold potential of Ghana.
Modern exploration on the properties now controlled by PMI goes back a decade, but virtually all that effort was devoted to finding another Obotan. That 3 million ounce deposit, which lies immediately adjacent to PMI's property, is a low-grade, oxidized deposit located on the surface. None of the effort was directed to the deeper portions of the belt. As the gold price fell, almost all of the Western mining companies pulled out of the Asankrangwa Gold Belt, in spite of considerable encouragement in the early stages of exploration that was conducted. The Obotan deposit has now been mined out, leaving an idle facility in the middle of the belt.
PMI has a team of highly qualified geologists reviewing the previous exploration results, with a two-pronged approach. First, there is considerable potential to build ounces in several near surface zones identified in the previous work. Secondly, the company will be looking for gold potential down-dip from surface showings.
The deeper potential is extremely important when you consider that most of the 45 million ounce Ashanti deposit occurs as a high grade underground deposit with little surface expression. The geology of the PMI ground is permissive for an Ashanti-type deposit. So far, none of the near surface gold occurrences on the PMI properties has been tested at depth.
The first approach to testing the down-dip potential will be the use of downhole geophysics, which will probe from the bottom of some of the previous drill holes. PMI is now wrapping up a C$1 million financing (at C$0.65 for a share and a warrant) and expects to begin drilling over the next few weeks, as soon as a drill rig can be secured.
PMI is directed by president Arthur Fisher, who is highly regarded in the mining industry, having brought four mines to production. The geological and management group that assembled the properties in the private company have a decade of experience in Ghana, and will continue working with PMI.
PMI is purely an exploration company, but the upcoming drilling program builds on previous successful results, including an impressive 12 grams per tonne over 9 meters. Analysis of the previous results has identified 10 targets, with considerable additional potential along the 50 kilometers of highly prospective gold belt controlled by the company.
Shares of PMI should benefit in the short term from the growing interest in Ghana, spurred by Newmont's production go-ahead, and also from the growing awareness of this junior company's extensive property position. Exploration success in any of the future drilling program can be expected to have a considerable impact on the value of the company. The properties now in hand provide at least 10 shots at a major success, with further prospects likely to be uncovered as work progresses.
Price February 10, 2003: C$0.72
Shares outstanding: 8.3 million
Market Cap: C$ 5.97 million
Contact : Warwick Smith
888-682-8089
www.westafricangold.com
AXMIN NEWS:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: AXMIN INC.
TSX VENTURE SYMBOL: AXM
APRIL 10, 2003 - 09:25 EST
AXMIN Inc.-Exploration Update, March 2003
TORONTO, ONTARIO--
Highlights
- In the Central African Republic an initial 3,000 metre core
drill program is scheduled for the second quarter with the
objective being to commence resource definition at Main Zone and
French Camp prospects.
- In Burkina Faso the joint pre-feasibility study will be
completed shortly; fast track to feasibility study anticipated.
- In Mali a drill program is planned across new targets as first
step in the further increase in gold resources at the Kofi
permit.
- In Senegal a reconnaissance RC program is planned to test four
new targets from which surface grab samples have included nine in
the range of 3 g/t Au to 77 g/t Au.
AXMIN Inc. (AXM-TSX Venture) is pleased to be able to provide a
summary of its exploration programs completed during 2002 and the
first quarter of 2003. Recent positive political developments in
the Central African Republic have enabled AXMIN to proceed with
the mobilisation of a core drill rig into the Bambari Permit
while activities in Mali and Senegal have identified new gold
mineralised structures. In addition the joint pre-feasibility
study in Burkina Faso is continuing with results expected
shortly.
Chief Executive Officer, Dr Jonathan Forster comments "With
drilling programs planned for the coming quarter, as well as
results due for the Bouroum-Taparko pre-feasibility study, the
next few months should be an exciting time for AXMIN. We are
looking for the resource base to increase, new targets to be
generated and the potential of the Passendro project area to
become much clearer."
In the Central African Republic, political unrest at the end of
2002 carried through into the first quarter of the year. An
almost bloodless coup d'etat in March, in conjunction with the
recent announcement of a new all party government, has seemingly
been welcomed by the general population in the country. AXMIN is
optimistic that its planned initial 3,000 metre core drilling
program can now proceed unhindered at the Bambari Permit, with
the drill rig scheduled for arrival in country at the end of
April. The drill program will initially focus on the French Camp
and Main Zone prospects within the Passendro project area of the
Bambari Permit, to test for continuity of gold mineralisation at
depth and along strike.
In 2002, AXMIN completed 5,100 metres of Rotary Airblast ("RAB")
drilling at the Passendro project area which successfully
delineated seven substantial gold targets over a combined strike
length in excess of 8,000 metres. This program extended the Main
Zone and Main Zone South mineralisation to a possible 2,000
metres of strike length, and extended the French Camp Zone to the
north for a possible strike length of 500 metres. In addition,
four new gold zones each with potential strike lengths in excess
of 1,000 metres were clearly delineated by the RAB program. The
most exciting being the Katsia prospect, where drilling indicates
gold mineralisation over at least 1,100 metre strike within a
1,500 metre long gold in soil anomaly.
In Burkina Faso, the pre-feasibility study reviewing the combined
Bouroum-Taparko project of AXMIN and High River Gold Mines Ltd
(HRG-TSX) is progressing well, with the process engineering and
infrastructure study being undertaken by Metallurgical Design and
Management of South Africa and the mine scheduling by SRK
Consulting (Canada). The results of the study should be available
shortly and assuming a positive result both parties would wish to
rapidly progress towards feasibility study.
On February 11, 2003 AXMIN announced a revised resource estimate
at the Bouroum deposit that increases the gold content in the
measured and indicated category by 56%. The measured and
indicated resource now stands at 3.9 million tonnes with a grade
of 2.8 g/t Au (351,000 ounces of contained gold); in addition
there is a further 1.6 million tonnes with a grade of 2.2 g/t Au
(113,000 ounces of contained gold) in the inferred category. Both
estimates are calculated using a 1 g/t Au cut-off grade. Within
this occurs a high grade measured and indicated resource of 1.0
million tonnes with a grade of 6.0 g/t Au (193,000 ounces of
contained gold) at a 3 g/t Au cut-off grade. AXMIN considers this
high grade resource the key to yielding a rapid payback of the
project's capital and funding. All resources are near surface and
exploitation will be considered by way of an open pit.
In Mali, a 7,000 metre RC drill program completed in mid-2002
identified the first resources at the Kofi project. On August
14, 2002 AXMIN announced an inferred resource of 1.4 million
tonnes with a grade of 2.3 g/t Au (106,000 ounces of contained
gold) at a 1 g/t Au cut-off grade at Kofi SW Zones B and C. The
next phase of drilling is designed to increase the number of
drill discoveries in the Kofi area, enabling a follow-up resource
drilling campaign to be planned. At least ten further targets
await first pass reconnaissance drilling.
Currently work has focused on preparation for a drill program in
the Kofi project area, with detailed geological mapping and
selective infill soil sampling completed. Initially three areas
have been targeted for the forthcoming program:
- Kofi South East; previous reconnaissance drilling tested a gold
bearing structure over 500 metres of a 1,000 metre long soil
anomaly, with results including 9.0 g/t Au over 6 metres. Further
drilling will be undertaken to infill and test the extensions of
this structure as well as test parallel structures;
- Soundou prospect; located about 3 km west of Kofi South East
and comprising a 900 metre long soil anomaly, 200-350 metres wide
at a threshold of 100 ppb Au. Artisanal workings at various
locations along the anomaly demonstrate the presence of a quartz
stockwork in greywackes, with a width in places of 50 metres; and
- Kofi South South; located about 12 km south of Kofi South East
and comprising a north-northeast trending 3,000 metre long soil
anomaly, with a threshold at 100 ppb Au. Occasional exposure
reveals a sheared phyllite with thin interfoliated quartz veins
across a surface width of some 60 metres. A single grab sample
returned 7.1 g/t Au.
The timing of this drill program will be dependent upon the
availability of an appropriate drill rig.
In Senegal, surface follow-up has been completed across selected
areas within targets generated by last season's reconnaissance
soil geochemistry program. At the Sounkounko Permit (located
about 80 km west of the Kofi project in Mali), infill soil
sampling and mapping, supplemented by limited float sampling has
identified initial drill targets. One target includes an
abandoned artisanal excavation on a quartz vein from which a grab
sample yielded 17 g/t Au, while a silicified wall rock sample
yielded 13 g/t Au. At the second target (Diabougou) soil sampling
(200 x 50 metre grid) has identified a northwest trending anomaly
at 100 ppb Au threshold of at least 1,400 metre strike length.
The area is underlain by a complex of felsic volcanics, basic
intrusives and sediments within which occur zones of
silicification and quartz veins trending northeast. Grab samples
of quartz vein and silicified felsitic surface float within, and
adjacent to the anomaly give results that include: 77 g/t Au, 17
g/t Au, 10 g/t Au, 5.7 g/t Au, 4.7 g/t Au and 3.5 g/t Au as well
as 5 further samples lying in the range of 0.5 to 1.3 g/t Au.
At the nearby Sabodala North West Permit, a zone of quartz
stockworks of at least 12 metre width has been identified within
a zone of abandoned artisanal workings occurring over a 120 metre
strike length within a 1,500 metre long soil anomaly (50 ppb Au
threshold.). A grab sample of weathered and altered granodiorite,
presumed to represent wallrock graded 3.6 g/t Au while a float
sample of the quartz vein material graded 22 g/t Au. These
structures are targeted for reconnaissance drilling scheduled for
the second quarter.
AXMIN is a gold exploration company with a strong focus on gold
in highly prospective properties across Africa, principally in
the Central African Republic, Burkina Faso and Mali.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
AXMIN Inc.
Jon Forster
Chief Executive Officer
+44-(0)1233-665600 (UK)
+44-(0)1233-643728 (UK) (FAX)
or
AXMIN Inc.
Judith Webster
Manager - Investor Relations
(416) 368-0993 (Canada)
E-mail: ir@axmin.com
www.axmin.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Header updated. Marine Mining Inc. added to the list.
tf
Semafo has been on a tear the last couple of days. It may be due to some positive comments made by John Embry (President of Sprott Asset Management) on the show "Market Call" which is shown on ROBTV. It was on Tuesday.
http://www.robtv.com/channels/hubs/pastprograms_highlights_tue.html
http://ca.finance.yahoo.com/q?s=SMF.TO&d=c&k=c1&a=v&p=s&t=5d&l=on&z=m&am...
Just goes to show how undervalued some of these plays that don't get much promotion are.
Moydow has seen a similar rise in the last couple of days.
tf
Global Thermoelectric being bought out.
Reuters
Quantum Fuel to buy Global Thermoelectric
Wednesday April 9, 8:21 am ET
CHICAGO, April 9 (Reuters) - Quantum Fuel Systems Technologies Worldwide Inc. (NasdaqNM:QTWW - News) said on Wednesday it would acquire Global Thermoelectric Inc. (Toronto:GLE.TO - News) in a stock swap valued at about $75 million.
Irvine, California-based Quantum, which makes systems for alternative-fuel vehicles and fuel cell applications, said it will purchase all the outstanding shares of Global Thermoelectric, a Calgary-based maker of power-generation products.
Under the agreement, Global shareholders would receive between 0.835 and 1.020 shares of Quantum stock for each share of Global common stock outstanding. The deal, expected to close in the third quarter, is subject to approval by shareholders of both companies.
The stock-swap ratio is to be determined by dividing the 20-day volume weighted average Quantum stock price ending three days before the Global shareholder meeting into $2.6284.
Quantum shares closed Tuesday at $2.32 on the Nasdaq stock market. Shares of Global Thermoelectric closed at C$2.45 on the Toronto Stock Exchange (News - Websites).
Cassidy financing news:
Mon Apr 7, 2003
Cassidy Announces Public Offering of Units of up to $1,050,000
--------------------------------------------------------------------------------
Kamloops, British Columbia - Cassidy Gold Corp. (the "Company") is pleased to announce that it has entered into a letter of intent with Haywood Securities Inc. (the "Agent") to offer up to 3,500,000 Units of the Company at $0.30 per Unit for gross proceeds of up to $1,050,000. The Units will be offered by means of a Short Form Offering Document in the provinces of British Columbia and Alberta. Each Unit will consist of one common share of the Company and one non-transferable share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional common share of the Company at a price of $0.33 per common share until the first anniversary of the closing of the offering and thereafter at a price of $0.45 per common share until the second anniversary of the closing of the offering.
The Agent will be paid a commission of 8% of the gross proceeds of the offering payable, at the Agent's option, in cash or Units of the Company at a deemed price of $0.30 per Unit. The Agent will also be paid a corporate finance fee of 50,000 Units at a deemed price of $0.30 per Unit and will be reimbursed for its legal fees and expenses incurred pursuant to the offering. The Company will also grant to the Agent a non-transferable warrant to purchase that number of common shares amounting to 15% of the total Units sold under the offering at a price of $0.33 per common share until the second anniversary of the closing of the offering.
The Company will use the proceeds from the offering to fund exploration activities at its Kouroussa property located in Guinea, West Africa, and for general working capital. Details of this stage of exploration, which will include a comprehensive drilling program, is to be announced shortly.
On behalf of the Board of Directors
Cassidy Gold Corp.
James T. Gillis, President
For further information please contact:
Jim Gillis, President
Phone: 250-372-8222 or Fax: 250-828-2269
This press release may be accessed at Cassidy Gold Corp.'s website: www.cassidygold.com and at SEDAR-CDY
If you wish to be placed on Cassidy Gold Corp.'s e-mail press release list, please contact us at cassidygold@telus.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
News
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: CUMBERLAND RESOURCES LTD.
TSX SYMBOL: CBD
APRIL 9, 2003 - 15:32 EST
Cumberland Resources Ltd.: Meadowbank Gold Project;
Resource Growth Continues-2003 Drill Program Commences,
Mine Development Permitting Initiated
VANCOUVER, BRITISH COLUMBIA--CUMBERLAND RESOURCES LTD. (CBD-TSX)
announces today that large drilling programs are now underway as
the Company initiates the field component of its $10.5 million
2003 work program for the 100% owned Meadowbank Gold Project,
located 70 kilometres north of Baker Lake, Nunavut.
A total of four drill rigs are scheduled to complete the Phase 1
program consisting of approximately 12,000 metres of drilling.
Three drill rigs will focus on deposit definition and further
exploration in the vicinity of the six known gold deposits at
Meadowbank. A fourth drill rig will concentrate on an overburden
drilling program to detect further exploration targets to the
northeast of the Vault deposit.
Resource evaluations, incorporating the results from 2002 drill
programs at the Vault deposit and the new PDF deposit, have now
been completed. Further resource estimation of the Connector and
North Portage deposit are underway.
Vault Deposit - Q1/2003 Resources
------------------------------------------------------------------------
Measured and Indicated 4,534,000 t grading 3.64 g/t 531,008 oz. gold
Inferred 5,479,000 t grading 3.52 g/t 620,062 oz. gold
------------------------------------------------------------------------
PDF Deposit - Q1/2003 Resources
------------------------------------------------------------------------
Inferred 344,000 t grading 5.20 g/t 57,511 oz. gold
------------------------------------------------------------------------
Meadowbank Project Resources - Q1/2003
------------------------------------------------------------------------
Measured and Indicated 12,309,000 t grading 5.00 g/t 1,978,700 oz. gold
Inferred 9,290,000 t grading 4.20 g/t 1,254,500 oz. gold
-------------------------------------------------------------------------
This link might work. I havent listened to it yet.
http://www.robtv.com/channels/hubs/pastprograms_highlights_tue.html
tf
Cardero Forms Strategic Alliance with Anglo American
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: CARDERO RESOURCE CORP.
TSX VENTURE SYMBOL: CDU
APRIL 9, 2003 - 13:14 EST
Cardero Forms Strategic Alliance with Anglo American
VANCOUVER, BRITISH COLUMBIA--Cardero Resource Corp. (the
"Company") is pleased to announce that it has entered into an
agreement with ANGLO AMERICAN MEXICO, S.A. DE C.V ("Anglo") to
explore and develop projects in Mexico. The target area was
identified by Cardero as having the potential to host large
copper-gold deposits and is defined in the agreement as an Area
of Interest measuring approximately 50,000 square kilometres in
size. Preliminary site visits and due diligence by Anglo American
geologists and consultant Dr. Richard Sillitoe are complete and
exploration in the region is now underway.
The terms of the agreement provide, subject to regulatory
approval, that Anglo will manage and fund expenditures for the
identification and acquisition of mineral concessions within the
Area of Interest. Anglo can earn a 70% interest in the mineral
concessions and, a 70% interest in a Mexican Newco to be formed
to hold the concessions, by incurring exploration expenditures
within the Area of Interest of not less than US$2,500,000
according to the following schedule:
/T/
- by December 1, 2003: US$ 200,000
- by December 1, 2004: US$ 600,000
- by December 1, 2005: US$ 1,300,000
- by December 1, 2006: US$ 2,500,000
/T/
Anglo is committed to a minimum expenditure of US$200,000 on or
before December 1, 2003. After Anglo has incurred an aggregate of
US$2,500,000 of expenditures, a non-participating party can be
diluted to a minimum 20% working interest below which percentage
its interest would be converted to a Net Profits Interest.
Cardero Resource Corp. is a mineral exploration and development
company listed on the TSX Venture Exchange. The Company is
actively evaluating silver, gold and copper projects that have
the potential to contain world class, company building mineral
deposits.
On Behalf of the Board of Directors of CARDERO RESOURCE CORP.
Henk Van Alphen, President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Cardero Resource Corp.
Henk Van Alphen
President
(604) 408-7488
(604) 408-7499 (FAX)
Email: hvanalphen@cardero.com
or
Cardero Resource Corp.
James Stewart
Vice President
(780) 487-1117
Email: fianchetto@telusplant.com
Website: www.cardero.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of
this news release which has been prepared by management.
The last time there was a volume spike like this the stock rallied from .60 to over 1.20. A similar effect now would be appreciated (g).
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ca%3Amoy&sid=0&o_symb=ca%3Am...
tf
Somebody just crossed 400000+ shares. eom
tf
I believe he was referring to PMI. The exchange symbol for that one is PMV.
I don't follow it that closely since I believe there are better juniors out there. Management seems to be promoting it quite well though.
tf
No, I didn't see it myself. Just read about it on the threads. Apparently he said he liked it, that it was being given away at these prices, "a gift", "a mulligan".
I'd like to see a transcript and know exactly what was said. Did you see the program?
tf
Russ, if your referring to our little basher, I believe Marcos could have him removed but prefers to keep him around as a sort of thread mascot. He's mostly harmless.
tf
Radius news:
News Release 2003-04 April 8, 2003
High Grade Gold Zone Extended - Drilling Underway
Radius Explorations Ltd. is pleased to announce that recent results from surface sampling and manual trenching confirm a new high-grade gold discovery along strike and 200m east of the previously reported gold veins at Guapinol (see Release 2003-01, January 13).
This new area, named "Pozo del Coyote", is on the Progreso I licence, located between the Bella Vista and Golazo project areas. The Tambor Joint Venture, Gold Fields 55%/Radius 45%, has acquired an option to earn a 100% interest in the area subject to a 2% NSR.
The first trench (GP-29) returned a high-grade core interval of 10.93m at 66.83 g/t gold within a broader mineralized zone that also included 5.30m at 3.04 g/t, 2.98m at 1.98 g/t and 1.67m at 2.19 g/t. The true width of the broader mineralized zone is not well established but appears to be 30+m.
Trench GP-30, located 25m to the southwest, has mineralization of a similar grade to GP-29, however, initial results from this trench were contaminated by the free gold in the samples and results from a new analysis are pending.
A detailed soil grid over the area shows a strong 300m long gold anomaly outlining the known mineralization and open to the southeast. A drill rig has been mobilized to the area and drilling is underway.
Following the program at Pozo del Coyote the rig will be moved west to Guapinol where a fifteen to twenty hole program will test the high-grade veins in that zone. Nine holes have been completed at La Laguna North, results are pending.
For further information on the Company and its projects, please call toll-free at 1-888-627-9378.
ON BEHALF OF THE BOARD Symbol: TSXV-RDU
Shares Issued: 25.0 million
"signed"
Simon T. Ridgway, President
Apparently John Embry (President of Sprott Asset Management) made some positive comments regarding MOYDOW today on "Market Call" which is shown on ROB TV.
http://www.robtv.com/
tf
Thanks for posting the response. It is discouraging to see that there are people willing to sell the stock in the 70s day after day. News of some sort of distribution of Newmont stock would fix that in a hurry.
tf
Afriore financing:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: AFRIORE LIMITED
TSX SYMBOL: AFO
APRIL 4, 2003 - 14:27 EST
AfriOre Completes $1.5-Million Financing
BRIDGETOWN, BARBADOS--AfriOre Limited (TSX: AFO) is pleased to
announce that it has raised CDN$1.5 million in a private
financing. The proceeds will be used for funding AfriOre's
working capital requirements and to advance the Company's gold
explorative initiatives, particularly those in Mali and Kenya.
The financing is for 1,500 units at $1,000.00 per unit. Each unit
consists of one $1,000.00 principal amount secured debenture and
1,000 common share purchase warrants. The debenture has a term of
18-months. Interest on the debenture is 10% per annum, payable
semi-annually in common shares based on a price per share equal
to the greater of $0.55 and the weighted average trading price
per share for the 20 consecutive trading days ending on the third
trading day prior to the date on which interest is payable less
the maximum applicable discount permitted by the TSX. Each
warrant entitles the holder to purchase one common share at an
exercise price of $0.55 for a period of 24 months.
AfriOre plans to repay the debenture using cashflow from its coal
operations.
AfriOre is listed in Standard & Poor's Corporation Records SEC
12g 3-2(b) exemption 82-4514.
This document may contain or refer to forward looking
information, including reserve and resource estimates, estimates
of future production, exploration and mine development, unit
costs, costs of capital projects and timing of commencement of
operations and estimates of market conditions, and is based on
current expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ
materially from any forward-looking statement include, but are
not limited to, failure to establish estimated resources and
reserves, the grade and recovery of ore which is mined varying
from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain
required governmental, environmental or other project approvals,
inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects and other factors.
Forward-looking statements are subject to significant risks and
uncertainties, and other factors that could cause actual results
to differ materially from expected results. Readers should not
place undue reliance on forward-looking statements. These
forward-looking statements are made as of the date hereof and we
assume no responsibility to update them or revise them to reflect
new events or circumstances.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Paul Parisotto
(416) 369-9333
(416) 628-5413 (FAX)
info@afriore.com
www.afriore.com
or
Tau Capital Corp.
Marie LeFrancois
(416) 361-9636
(416) 361-0330 (FAX)
marie@taucapital.com
I'm guessing that we should here something soon. According to the last news release the drill core was being sent to Vancouver for assay and that was about five weeks ago.
tf
Thanks Russ, it's good to know we will be getting some much needed publicity through the Northern Miner. At least management is showing some signs that they recognize the need to get the story out. They could still be a lot more proactive though.
tf
Rubicon news regarding Red Lake:
FOR: RUBICON MINERALS CORPORATION
SEC Reg. # 82-5029
TSX VENTURE SYMBOL: RMX
OTC Bulletin Board SYMBOL: RUBIF
APRIL 3, 2003 - 09:56 EST
Rubicon Reports High-Grade Gold Discoveries In Three
Previously Unexplored Areas At McFinley, Red Lake,
Ontario
VANCOUVER, BRITISH COLUMBIA--
David W. Adamson, President and CEO of Rubicon Minerals
Corporation (RMX.TSX Venture) is pleased to announce interim
results received to date from drilling carried out at its
flagship, 100% controlled McFinley gold project located in the
heart of the prolific Red Lake gold camp. The program is designed
to test several unexplored parts of the property, thought to have
high potential for Red Lake type gold deposits. To date, 26 drill
holes have been completed for a total of 27,725 feet. Assay
results have been received for a total of 14 of these holes
(Table 1). Diamond drilling is continuing and is expected to
comprise a further six drill holes. Target areas are shown in the
attached map (Exhibit A). Highlights of drilling to date are:
- High grade gold has been discovered in three new widely
separated target areas (MAC-1, MAC-2 and MAC-3) associated with
ultramafic bodies and their contacts (Exhibit A). It is clear
that the area of previously explored gold mineralization,
confined to McFinley peninsula, is a small part of a much larger
mineralized system that spans the property. Eight of the 14 holes
reported herein contain visible gold.
MAC 1 Zone
- In the new MAC-1 zone, assays have been received for two out of
five drill holes testing a 1200 foot (365 m) strike length to
vertical depths of up to 800 feet (250 m). Multiple gold
intercepts, with abundant visible gold have been returned in each
of the two holes. Results include 1.34 oz/ton gold over 3.28
feet, 0.71 oz/ton over 1.48 feet and 0.51 oz/ton over 1.64 feet
in hole MF03-16 and 1.93 oz/ton over 0.98 feet in hole MF03-30a,
drilled approximately 500 feet (150 m) to the south of MF03-16.
Hole MF03-19, drilled 650 feet (200 m) to the south has
intersected 0.97 oz/ton gold over 0.98 feet, along with a number
of anomalous gold values suggesting the potential for expanding
the MAC-1 zone.
- Holes in the MAC-1 target area contain numerous, lower grade
but significant gold intercepts (Table 1), evidence that a major
gold system is operative in this area. An additional two holes
have been drilled in this zone for which results are pending, and
a third hole is in progress.
- Gold mineralization in the MAC-1 zone is developed within
quartz-carbonate veins in strongly altered biotite-bearing mafic
rocks close to the contact of a major ultramafic unit.
Mineralization comprises visible gold and variable amounts of
sulphides, including arsenopyrite. The zone is open for follow up
drilling from land based sites and has been tested to only a
shallow depth.
MAC 2 Target Area
- In the MAC-2 area, three holes (MF03-21, -23 and -26) tested
250 feet (75 m) down dip of previous drilling at a vertical depth
of approximately 600 feet (180 m) below surface. All holes
intersected an extensive sequence of silicified and biotite
altered mafic volcanics, up to 100 feet (30 m) thick, developed
near the contact of an ultramafic unit. Hole MF03-21, intersected
0.60 oz/ton gold over 2.92 feet, including 0.97 oz/ton gold over
1.25 feet and a separate intercept of 1.00 oz/ton gold over 2.33
feet higher up in the hole. All three holes contain numerous
lower grade intercepts indicative of a large mineralized system.
Mineralization consists of visible gold-bearing iron and base
metal sulphides with local arsenopyrite. Drilling is being
carried out 400 feet to the north to test the same
ultramafic/mafic contact at a vertical depth of approximately
1100 feet below surface.
MAC 3 Target Area
- In the MAC-3 zone, assays have been received for three out of
five holes testing a 1000 foot (300 m) strike length to depths of
up to 550 feet (170 m) below surface. Results include 1.92 oz/ton
gold over 2.20 feet and 0.52 oz/ton gold over 2.03 feet plus
numerous lower grade intercepts in drill hole MF03-25. Holes
MF03-29, drilled approximately 300 feet (100 m) to the west
returned elevated gold, up to 0.11 oz/ton gold over 2.30 feet
(see Table 1). Assays are pending for two additional holes
drilled in this zone. Gold in this area is hosted by altered and
veined intrusive rocks and, to a lesser extent, mineralized
ultramafics.
Other Target Areas
- Several holes have tested other target areas (Exhibit A).
Although these do not necessarily contain anomalous gold, all but
two holes exhibit very strong alteration of host rocks, including
silicification and biotite alteration. These areas warrant
additional exploration and are further evidence that a major
mineralizing system is developed on the property scale.
- In addition to the zones described above, other priority target
areas are being tested as the drill program continues (Exhibit
A). Drilling is expected to conclude in this first phase in
Mid-April, 2003 for a total of 31 drill holes.
David Adamson states, "In January 2003, we stated that we felt
the potential for new gold discoveries at McFinley was high.
Results to date certainly confirm this view. While we are at an
early stage in exploring new parts of the property, it is clear
we are dealing with a large, gold-bearing system. We have an
outstanding exploration team on the project and our exploration
model is yielding highly positive results. We look forward to
additional news as new assay results are received and remaining
drilling is completed. When we examine the rest of the camp for
similar size systems, we find they are typically confined to
producing or past-producing mine areas. Furthermore, McFinley is
the only example of an advanced project in this world class gold
camp, 100% controlled by a junior company."
Other Red Lake Projects
McCuaig JV Project
Partners Rubicon (60%) and Golden Tag Resources (40%) have
completed 5260 feet of drilling (10 holes) on its McCuaig JV
project, located approximately 1.5km west of the Cochenour mine
(past production 1.2 M.Oz at 0.56 oz/ton) and situated at the
west end of the Mine Trend, which hosts 25 million ounces of past
gold production plus reserves. Previous drilling at McCuaig has
identified promising gold mineralization (the 1900 Zone) in an
area of silicified ultramafics, including 2.21 oz/ton over 2.30
feet, 0.67 oz/ton over 10.17 feet and 0.74 oz/ton over 5.58 feet
(see news release dated April 18, 2002 for more information.).
Drilling in this program has intersected gold mineralization in a
number of holes (Table 2) with the best intersections of 0.21
oz/ton over 1.97 feet (MC03-45) and 0.18 oz/ton gold over 1.64
feet (MC03-48). Several holes intersected broad, lower grade gold
zones for example, 0.04 oz/ton over 19.03 feet (MC03-42) and 0.04
oz/ton over 16.73 feet (MC03-47). Mineralization is interpreted
to be related to faults associated with a major NE trending
structure which cross cuts silicified ultramafics. Anomalous gold
has also been returned in hole MC03-50 within a silicified
ultramafic located approximately 240 m west of the 1900 zone,
this area warrants additional exploration. Results to date
indicate a gold system of appreciable size and locally
significant grade is present in this area and that more
exploration is warranted.
RLJV (Rubicon-AngloGold) Project
Drilling on the property is ongoing. Results will be reported at
the conclusion of the program, once all assays have been
received.
RUBICON MINERALS CORPORATION
David W. Adamson
President & CEO
The statements contained in this release that are not historical
facts are forward-looking statements, which involve risks and
uncertainties that could cause actual results to differ
materially from targeted results. Mineral resources which are not
mineral reserves do not have demonstrated economic viability. The
Company relies upon litigation protection for forward looking
statements.
TABLE 1: McFINLEY GOLD PROJECT - INTERIM DRILL PROGRAM RESULTS
---------------------------------------------------------------------
---------------------------------------------------------------------
HOLE ID LOCATION DIP/AZ Length
(ft)
---------------------------------------------------------------------
---------------------------------------------------------------------
MF-03-15 13034N / 7873E -45 / 88 833.33
---------------------------------------------------------------------
MF-03-16(x) 12340N / 8717E -45 / 58 1148.29
---------------------------------------------------------------------
MF-03-17 10530N / 10075E -72 / 90 173.43
MF-03-18 10528N / 10075E -72 / 90 1125.33
---------------------------------------------------------------------
MF-03-19(x) 11477N / 9494E -45 / 58 577.43
---------------------------------------------------------------------
MF-03-20 14976N / 9742E -65 / 58 971.00
---------------------------------------------------------------------
MF-03-21(x) 9200N / 9700E -85 / 88 1407.48
---------------------------------------------------------------------
MF-03-22 15266N / 10885E -60 / 58 1250.00
---------------------------------------------------------------------
MF-03-23 9200N / 9700E -80 / 90 1082.68
---------------------------------------------------------------------
MF-03-24(x) 13174N / 8487E -45 / 58 1712.60
---------------------------------------------------------------------
MF-03-25(x) 10590N / 11969E -65 / 83 951.44
---------------------------------------------------------------------
MF-03-26 9118N / 9674E -85 / 90 1190.94
---------------------------------------------------------------------
MF-03-27 11044N / 11652E -70 / 83 695.00
---------------------------------------------------------------------
MF-03-28 13592N / 9745E -50 / 73 994.09
---------------------------------------------------------------------
MF-03-29 10557N / 11692E -60 / 83 1345.14
---------------------------------------------------------------------
MF-03-30A(x) 11955N / 9071E -55 / 53 1069.55
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
Hole ID From To Width Au From To Width Au
(ft) (ft) (ft) oz/ton (m) (m) (m) (g/t)
---------------------------------------------------------------------
---------------------------------------------------------------------
MF-03-15 471.13 473.26 2.13 0.14 143.60 144.25 0.65 4.80
---------------------------------------------------------------------
MF-03-16 66.93 68.08 1.15 0.61 20.40 20.75 0.35 20.90
68.08 69.06 0.98 0.10 20.75 21.05 0.30 3.36
297.74 299.70 1.97 0.06 90.75 91.35 0.60 2.02
299.70 300.69 0.98 0.15 91.35 91.65 0.30 5.04
300.69 302.00 1.31 0.06 91.65 92.05 0.40 2.00
304.30 307.25 2.95 0.15 92.75 93.65 0.90 5.27
536.09 538.06 1.97 0.28 163.40 164.00 0.60 9.53
538.06 540.03 1.97 0.12 164.00 164.60 0.60 3.96
606.96 607.94 0.98 0.12 185.00 185.30 0.30 4.05
626.97 628.44 1.48 0.71 191.10 191.55 0.45 24.20
699.48 702.76 3.28 1.34 213.20 214.20 1.00 46.00
1057.25 1058.89 1.64 0.51 322.25 322.75 0.50 17.65
---------------------------------------------------------------------
MF-03-17 162.40 164.70 2.30 0.08 49.50 50.20 0.70 2.59
MF-03-18 129.59 131.23 1.64 0.09 39.50 40.00 0.50 3.09
254.72 256.40 1.67 0.14 77.64 78.15 0.51 4.72
362.86 364.50 1.64 0.06 110.60 111.10 0.50 2.18
364.50 366.31 1.80 0.06 111.10 111.65 0.55 2.14
---------------------------------------------------------------------
MF-03-19 171.75 173.06 1.31 0.12 52.35 52.75 0.40 3.96
225.23 226.21 0.98 0.97 68.65 68.95 0.30 33.16
233.43 234.58 1.15 0.13 71.15 71.50 0.35 4.54
293.80 294.78 0.98 0.09 89.55 89.85 0.30 3.17
372.05 373.36 1.31 0.10 113.40 113.80 0.40 3.41
---------------------------------------------------------------------
MF-03-20 no significant assays
---------------------------------------------------------------------
MF-03-21 296.59 298.29 1.71 0.10 90.40 90.92 0.52 3.59
453.58 455.91 2.33 1.00 138.25 138.96 0.71 34.20
693.64 696.92 3.28 0.08 211.42 212.42 1.00 2.58
726.28 728.22 1.94 0.11 221.37 221.96 0.59 3.75
756.82 758.92 2.10 0.08 230.68 231.32 0.64 2.91
761.32 763.55 2.23 0.10 232.05 232.73 0.68 3.37
914.90 916.14 1.25 0.97 278.86 279.24 0.38 33.33
916.14 917.81 1.67 0.33 279.24 279.75 0.51 11.25
925.85 927.99 2.13 0.06 282.20 282.85 0.65 2.21
---------------------------------------------------------------------
MF-03-22 no significant assays
---------------------------------------------------------------------
MF-03-23 286.48 287.53 1.05 0.06 87.32 87.64 0.32 2.07
402.89 405.64 2.76 0.11 122.80 123.64 0.84 3.83
620.57 622.77 2.20 0.09 189.15 189.82 0.67 3.13
682.09 685.37 3.28 0.07 207.90 208.90 1.00 2.41
694.72 697.83 3.12 0.28 211.75 212.70 0.95 9.58
---------------------------------------------------------------------
MF-03-24 689.96 691.11 1.15 0.06 210.30 210.65 0.35 2.11
---------------------------------------------------------------------
MF-03-25 175.69 177.72 2.03 0.52 53.55 54.17 0.62 17.75
177.72 181.00 3.28 0.14 54.17 55.17 1.00 4.67
327.10 328.64 1.54 0.06 99.70 100.17 0.47 2.07
328.64 329.89 1.25 0.15 100.17 100.55 0.38 5.13
329.89 331.36 1.48 0.07 100.55 101.00 0.45 2.39
331.36 333.01 1.64 0.08 101.00 101.50 0.50 2.72
545.44 546.59 1.15 0.06 166.25 166.60 0.35 2.06
592.03 594.23 2.20 1.92 180.45 181.12 0.67 65.80
608.27 610.40 2.13 0.06 185.40 186.05 0.65 2.09
---------------------------------------------------------------------
MF-03-26 669.62 672.57 2.95 0.06 204.10 205.00 0.90 2.13
792.65 794.36 1.71 0.12 241.60 242.12 0.52 4.08
---------------------------------------------------------------------
MF-03-27 no significant assays
---------------------------------------------------------------------
MF-03-28 301.35 304.59 3.25 0.08 91.85 92.84 0.99 2.66
307.81 311.09 3.28 0.21 93.82 94.82 1.00 7.08
---------------------------------------------------------------------
MF-03-29 167.65 169.95 2.30 0.11 51.10 51.80 0.70 3.67
201.44 203.41 1.97 0.09 61.40 62.00 0.60 2.99
---------------------------------------------------------------------
MF-03-30A 307.41 308.40 0.98 1.93 93.70 94.00 0.30 66.10
108.27 109.25 0.98 0.07 33.00 33.30 0.30 2.43
133.86 134.51 0.66 0.06 40.80 41.00 0.20 2.02
389.44 390.75 1.31 0.06 118.70 119.10 0.40 2.02
529.86 530.84 0.98 0.08 161.50 161.80 0.30 2.59
308.40 309.94 1.54 0.06 94.00 94.47 0.47 2.14
704.40 705.38 0.98 0.08 214.70 215.00 0.30 2.74
789.70 791.01 1.31 0.24 240.70 241.10 0.40 8.28
864.50 866.14 1.64 0.23 263.50 264.00 0.50 7.93
---------------------------------------------------------------------
---------------------------------------------------------------------
Original data are in Metric. Minor rounding errors may be observed in
the conversion to Imperial data
Note: (x) denotes visible gold noted in drill hole.
TABLE 2 - McCUAIG JV RESULTS
---------------------------------------------------------------------
---------------------------------------------------------------------
Hole ID Northing/Easting Dip/Az Length
(ft)
---------------------------------------------------------------------
---------------------------------------------------------------------
MC-03-41 5660630/441900 -75/135 537
---------------------------------------------------------------------
MC-03-42 5660630/441900 -70/135 538
---------------------------------------------------------------------
MC-03-43 5660630/441900 -65/135 558
---------------------------------------------------------------------
MC-03-44 5660583/441975 -80/315 548
---------------------------------------------------------------------
MC-03-45 5660583/441975 -69.9/315 499
---------------------------------------------------------------------
MC-03-46 5660568/441919 -85/315 548
---------------------------------------------------------------------
MC-03-47 5660568/441919 -80/315 548
---------------------------------------------------------------------
MC-03-48 5660568/441919 -75/315 548
---------------------------------------------------------------------
MC-03-49 5660485/441630 -70/90 440
---------------------------------------------------------------------
MC-03-50 5660485/441630 -45/30 499
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
Hole ID From To Width oz/ton From To Width Au
(ft) (ft) (ft) (m) (m) (m) (g/t)
---------------------------------------------------------------------
---------------------------------------------------------------------
MC-03-41 No significant assays
---------------------------------------------------------------------
MC-03-42 440.64 445.56 4.92 0.09 134.30 135.80 1.50 3.12
---------------------------------------------------------------------
MC-03-43 290.37 293.32 2.95 0.07 88.50 89.40 0.90 2.51
---------------------------------------------------------------------
MC-03-44 No significant assays
---------------------------------------------------------------------
MC-03-45 365.83 367.80 1.97 0.21 111.50 112.10 0.6 7.30
---------------------------------------------------------------------
MC-03-46 467.54 469.18 1.64 0.11 142.50 143.00 0.5 3.80
---------------------------------------------------------------------
MC-03-47 393.72 400.94 7.22 0.06 120.00 122.20 2.20 2.00
---------------------------------------------------------------------
MC-03-48 251.00 252.64 1.64 0.09 76.50 77.00 0.50 3.00
452.78 454.42 1.64 0.18 138.00 138.50 0.50 6.29
---------------------------------------------------------------------
MC-03-49 No significant assays
---------------------------------------------------------------------
MC-03-50 No significant assays
---------------------------------------------------------------------
---------------------------------------------------------------------
Note: Gold Assays were by metallic screen fire assays carried out by
ALS Chemex of Vancouver, B.C. Assays were carried out using 1/2 of
sawn NQ2 core (50mm diameter). Industry standards and blanks were
incorporated into each sample batch. McFinley project was carried out
and supervised by David Rigg P.Geo QP. McCuaig work was supervised by
Darwin Green P.Geo., QP for the project.
So I take it that Mr Ridgeway pissed off a few geologists. Care to share the details? If nothing else, it looks to me that he's been successful in acquiring a large number of promising mineral properties. The proof will come in the drilling. I have owned Radius in the past and am now thinking about taking a position in Pillar.
tf
Jilbey announces financing:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: JILBEY ENTERPRISES LTD.
TSX VENTURE SYMBOL: JLB
APRIL 2, 2003 - 17:00 EST
Jilbey Plans Financing
HALIFAX, NOVA SCOTIA--Jilbey Enterprises Ltd. (JLB-TSXV) (the
"Corporation") plans to raise up to $200,000 from arm's length
and non arm's length parties by the sale of units priced at $0.30
each. Each unit will consist of one flow through share and
one-half of one share purchase warrant. Each whole warrant
entitles its holder thereof to purchase one additional common
share of the Corporation at a price of $0.40 for a period of
eighteen months from closing.
Proceeds from the financing will be used to advance the
Corporation's gold properties in the Red Lake-Birch Lake area of
Northwestern Ontario.
Please visit the Corporation's website at www.jilbey.com for more
information about the Corporation and it's current projects.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Jilbey Enterprises Ltd.
Dan Whittaker
(902) 422-0028
(902) 422-4564 (FAX)
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Robex news:
THE MAJORS ARE INTERESTED IN DIANGOUNTE !
Ste-Foy, April 1st, 2003.
Robex is pleased to announce the signature of two additional confiden-tiality agreements, one with a major gold producer and the other with a small mining producer. The goal of these agreements is to provide for theses companies all necessary information to permit them to evaluate the potential of the La Corne gold orebody, as well as the additional potential of the Diangounte property located 25 km from the Sadiola Hill, mine operated by AngloGold in Mali, West Africa. The Kenieba Valley, where Diangounte is located, has been the object of a number of gold discoveries and contains among others the Yatela orebody, 1.9M ounces of gold, Sadiola, 9.1M ounces of gold (AngloGold and Iamgold property), Loulo, 4.5M ounces of gold (Randgold) and the Segala, 1.3M ounces of gold and Tabakoto, 1.9M ounces of gold orebodies which Nevsun foresees putting into production in 2004.
Robex now has six duly signed confidentiality agreements of which three are with some of the largest gold producers in the world. The others are split between intermediate and junior pro-ducers. Robex's intention is to develop the Diangounte property's utmost potential and to finance its exploration, as well as putting its La Corne surface orebody into production.
Last December Robex completed a pre-feasibility study with a view to putting into production a portion of its La Corne gold orebody. 1.78M m3 containing an indicated resource of 3.22 gr/m3 pr 184,553 ounces of gold can be mined at a rate of 1,000 m3/day for an annual production of 30,000 ounces of gold over 5.3 years. The production cost has been fixed at US $ 66.32 per ounce of gold or 0.55 gr of gold per cubic metre. Additional inferred resources of 207,000 and 192,702 ounces of gold have been identified outside of the intended production area.
The Diangounte property of 54 km2 also offers additional potential in the Katabali, Dialaki Secant, Dialaki South, Bodibato, Rhyolite Zone and Tomoronkonlon known gold corridors.
Robex is currently working on enlarging its property to its initial size of some 120 km2.
OUR WEBSITE BEING CONTINUOUSLY UPDATED, PLEASE VISIT US AT : www.robexgold.com
FOR OTHER INFORMATION
Stewart Robertson - Director - Trenton, Ontario (613) 392-2646
André Vézina - Investor relations - Québec (418) 670-1422
Marcel Bédard - email - marcelbedard@sympatico.ca
Marcel Bédard, president
Gallery news:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: GALLERY RESOURCES LTD.
TSX VENTURE SYMBOL: GYR
APRIL 2, 2003 - 10:49 EST
Gallery Reports on Latest Drill Results from the Katie
Project
VANCOUVER, BRITISH COLUMBIA--Gallery Resources Limited
(GYR:TSX.V) of Vancouver, B.C. is pleased to announce that the
first phase of the planned 2003 drilling program on it's Black
Bart Katie Property located in the Botwood Basin of central
Newfoundland has produced the best drill results to date. It was
initially planned to drill 1,500 metres (5,000 ft) but early
positive results prompted the company to carry out additional
drilling for a total of 2,273.78 metres (7,458 ft) completed to
March 25, 2003.
Drilling focused along a 2.5 km (8,200 ft) zone hosting the Black
Bart VMS and Bruce Pond Epithermal Gold prospects. The objective
was to map out the VMS and Epithermal zones over shallow depths
down to 125 metres (400 ft). This objective was met with both
zones being intersected at two (2) new areas targeted for
drilling.
The first new target located between the gold-bearing VMS and
Epithermal prospects, separated by 1.6 kms (5,300 ft), was
selected to drill test a 500 metre (1,650 ft) long soil anomaly
containing elevated values of gold, zinc, copper, lead and
silver, the same metals contained in high grade, zinc enriched
boulders at the Black Bart VMS Prospect. The widespread
distribution of gold throughout this anomaly indicated this area
could also be underlain by the epithermal gold system first
detected at the Bruce Pond Prospect, located 600 metres (2,000
ft) south.
Five (5) holes drilled to vertical depths between 50 and 125
metres (160 and 400 ft) have all intersected epithermal veining
typical of the epithermal alteration in other areas. Two (2) of
the 5 holes also intersected the blackjack sphalerite (zinc) VMS
mineralization seen at the Black Bart VMS Prospect. This visible
mineralization is hosted in banded silica (exhalite) horizons up
to 3.5 metres (12 ft) thick and also a zone of stringer and
banded (up to several cms thick) semi-massive to massive pyrite
dominated sulphides. This style of mineralization is typical of
VMS mineralized districts and is observed in drill core from
bedrock surface below the thin (up to 6 metres) overburden cover
to the vertical depth of 125 metres, drilled to date.
Because of the early positive results, fifteen (15) 0.5 to 1.0
metre (1.5 to 3.0 ft) samples were expedited for assaying with
results received on March 21, 2003. These initial results
represent the best drill intersections on the property. Gold
values of 2.52 g/t and 1.85 g/t were obtained respectively from
both the VMS exhalite and stringer sulphide zones, both of which
are cut by the epithermal alteration. The samples, up to 1.0
metre thick, also contain good enrichments of VMS mineralization
ranging up to 3.0% zinc, 0.60% lead, 0.17% copper and 0.57 oz/t
silver. These levels of precious and base metals are significant
and within the range of economic grades. Encountering gold grades
up to 2.52 g/t within the upper levels of the epithermal system
also suggest good potential for higher grades at deeper levels.
Based on these initial assays the drill was moved 1.4 kms (5,000
ft) south (800 metres south of the Bruce Pond Prospect) to test
another untested soil anomaly, where the latest drilling has also
intersected the VMS and Epithermal systems. This latest
discovery, 2.5 kms south of the Black Bart Prospect, and the
presence of other untested prospects and soil anomalies up to 9.5
kms (6 miles) north indicate the potential for a major
mineralized belt within the Katie Property.
A total of approximately 125 samples have been selected from
drill core and assay results will be released upon receipt. The
company is very encouraged by the assay results obtained to date.
Over the next few weeks these additional results will be
evaluated to direct the next round of drilling which will test
deeper levels for higher metal concentrations.
Bruce Costerd, President & C.E.O.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Gallery Resources Limited
Investor Relations
Toll Free, Canada & USA: 1-800-565-7350 or (604) 662-8119
(604) 662-8616 (FAX)
Email: info@gallery-gold.com
Website: www.gallery-gold.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Caldera news:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: CALDERA RESOURCES INC.
Cusip: 1287D 105
TSX SYMBOL: CDR
APRIL 2, 2003 - 10:59 EST
Caldera Resources Inc. Announces Acquisition Of Baomahun
Gold Project
SOUTH PERTH, WESTERN AUSTRALIA--
CALDERA ANNOUNCES LETTER OF INTENT TO ACQUIRE A MAJORITY INTEREST
FROM MR. RONALD WINSTON IN THE BAOMAHUN GOLD PROJECT, SIERRA
LEONE WHICH HAS A RESOURCE CONSISTING OF A PROBABLE RESERVE OF
96,224 OUNCES GOLD (383,700 TONNES GRADING 7.8 g/t), AN INDICATED
RESOURCE OF 227,817 OUNCES GOLD (499,000 TONNES GRADING 14.2 g/t)
AND AN INFERRED RESOURCE OF 595,132 OUNCES GOLD (2,012,000 TONNES
GRADING 9.2 g/t)
Caldera Resources Inc. ("Caldera", TSE-CDR) is pleased to
announce that it has entered into a letter of intent to earn up
to a 75% interest in the Baomahun Gold Project in Sierra Leone
which is now 100% personally owned by Mr. Ronald Winston, who is
the Chairman of Harry Winston Inc., an integrated international
diamond and jewellery company with headquarters in New York.
The HIGHLIGHTS of the Baomahun Gold Project include:
- the association with Mr. Ronald Winston.
- a reserve and resource estimate consisting of a probable
reserve of 96,224 ounces of gold (383,700 tonnes grading 7.8
g/t), an indicated resources of 227,817 ounces gold (499,000
tonnes grading 14.2 g/t) and an inferred resource of 595,132
ounces gold (2,012,000 tonnes grading 9.2 g/t)
- excellent potential for additional resources.
- favourable metallurgy with a gold recovery rate of 90% or
better.
- location of the project covering 137km2 in a relatively
unexplored Archaean greenstone belt.
The reserves and resources as defined to date, in accordance with
The Canadian Institute of Mining, Metallurgy and Petroleum
definitions are shown in the following table:-
LOCATION ZONE PROBABLE RESOURCE
RESERVE INDICATED INFERRED
---------------------------------------------------------------------
East 383,700 t @ 7.8 499,000 t @ 14.2 890,000 t @ 10.0
g/t g/t g/t
---------------------------------------------------------------------
BAOMAHUN Central 714,000 t @ 9.1
g/t
---------------------------------------------------------------------
West 408,000 t @ 7.7
g/t
---------------------------------------------------------------------
TOTAL 383,700 t @ 7.8 499,000 t @ 14.2 2,012,000 t @ 9.2
g/t g/t g/t
---------------------------------------------------------------------
96,224 oz 227,817 oz 595,132 oz
---------------------------------------------------------------------
Leonard Kaplan on gold:
"It has now been a week since the joyous adventurers in the gold market departed, some speculators leaving in drunken reverie and some left to cry in their beer. These shorter-term traders arrived to the gold market party en masse, and left much the same way. For the last week, the gold market has reverted back to a much more normal and predictable fashion, with traders still keeping a watchful eye on the war, a second eye on the equities markets, and a third eye on the continuing depreciation of the USD. Volatilities continued to lessen; sharp and sudden price movements were fairly rare, and trading volumes rather meager. Gold prices bounced nicely off major technical support in the $325 price level and were able to rally $5.50 on the week.
While the gold market continues to be held hostage to the news and headlines, I sense that we are finally beginning to see a greater influence of the underlying fundamentals rather than the irrational exuberance or illogical despair of emotion that so painted the gold market these past months. Physical buying by commercial/industrial concerns has re-emerged, bolstering the floor of this market. Investors and speculators are now buying for all the RIGHT reasons, rather than just piling into the market in the hope that the next fellow will be happy to pay even a higher price.
As the "reality" of the war sets in, the economic themes and trends of the prospect for a lower USD, the massive deficits which will be incurred by the USA government, the probabilities of the ongoing bear market in stocks, etc..etc..are now becoming more apparent, and the gold market is faithfully responding. These are the levels that make sense; these are the prices at which both investors and speculators should be buying, rather than selling. After all has been said and done, all that is happening now is we are reverting the original trend of the market, a secular bull. The war premium has come and gone, the revelers (the specs) have come and gone, and now the professional traders are seeing value.
Over the past week, with the realization that the war with Iraq may have quite serious ramifications upon the global economy, and the "industrial" metals just got clobbered, silver decided that it was a monetary metal, and traded in lockstep fashion with gold. Prices were up about 8 cents for the week in rather calm trading conditions. The silver market remains a trader's dream, a market where reliability is assured. It seems that silver is cheap in the $4.30's and $4.40's and expensive in the $4.70's and $4.80's.
While gold and silver had quite good weeks, building support and consolidating, the industrial metals were hurt badly as the large speculative concerns bailed out of their long positions. Platinum was down $18.40 for the week, and is now down about $67 in just 20 calendar days. This commentary forecast a decline in this market several weeks ago, but truth be told, I did not see it as vicious as it turned out to be, nor go quite as far as it did. Palladium was the "wonder of the week", falling $42 in value as we saw massive selling out of the Far East. The talk in the trade was that the selling had much to do with the fiscal year-end in Japan, being March 31, 2003, and that stale longs were liquidating en masse. This theory is easily proven right or wrong if we see some recovery in the coming days.
With the certainty of a longer than expected war in Iraq, the USD was sold heavily last week, and as an example, the Euro had it's largest rally against the USD in 8 months. Please remember that as the USD declines in value, it becomes cheaper in all foreign currencies, which significantly increases demand. And, at the end of the day, it is physical demand for gold that really determines the floor for this market.
A fascinating birth in the gold market has been the news that an exchange-traded security has begun trading on the Australian Stock Exchange. Each share of this fund is equal to 1/10 of one ounce of gold, stored in the vaults in London, and is priced in Aussie Dollars. So far, volumes have been meager, but it seems that not much promotion nor advertisement has been done. If this is successful, it could be a blueprint for the establishment of much the same theory on other exchanges, the most important, of course, being the USA, where it would trade in USD. It has been the fervent hope of the World Gold Council to promote and establish such a trading vehicle so that investors and speculators would have easier access to the purchase of physical gold. While such exchange-traded vehicles have the potential to change the structure of the gold market, I must admit that I remain quite skeptical. I have never understood the cries of some in the industry that gold is hard to buy, that a better "wheel" needs to be invented in order to encourage the investor. After all, the futures markets, where delivery of physical gold is required when demanded by the buyer, remain the cheapest, most efficient, more transparent, most liquid, and most heavily-traded instrument on the planet.
Speaking of gold, China has now become the 10th largest official holder of gold in the world, now keeping 600 tons of gold as official reserves. This nation has been a rather aggressive buyer of gold of late, and the industry is watching this trend most carefully.
While the Bundesbank has made its intentions to sell a bit, or more than a bit, of gold very clear in the market, it now appears that the proverbial "fly in the ointment" has emerged. It seems that IF the Bundesbank does sell gold, all of the profits go to the government, and not the Central Bank who wishes to reinvest the proceeds. Mr. Ernst Welteke, who has been the champion of such gold sales, was recently forced to admit that if the profits went to the government, rather than to the Central Bank, that the Bundesbank would "reconsider" such sales. It would take a change in the law to allow the Central Bank to retain the funds, and as such, is very unlikely. While the market has feared gold sales by Germany, which currently has 3,446 tons of gold reserves, it now is rather evident that it just ain't gonna happen."
Eric,
Do you have an opinion on Simon Ridgeway's companies, Radius and Pillar. I don't know if you are following, but Radius just optioned a 60% interest in the highly prospective Holly property to Pillar for what may turn out to be a cheap price. What do you think of it all? I wouldnt be surprised if this deal was meant to benefit the insiders who are common to both companies at any rate but probably control a better part of the later company, the former being distributed already thanks to the help of a number of letter writers. Of course this has nothing to do with Mali or even Africa. The property in question is in Guatamala.
tf
Pillar is starting to look like the better deal. The financing announced today will give it about 15 million shares outstanding. I don't know how many fully diluted. Thats roughly 10 million outstanding less than Radius. Obviously if I was a Radius shareholder I would be dissapointed with this deal. It looks like they have given Pillar a very prospective property for what may be a cheap price. The proof will be in the drilling.
tf