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Newfoundland and Labrador claim maps:
http://www.gov.nf.ca/mines&en/MINES/MineralLands/OnlineData/mapclaims.htm
tf
Sparton Resources added to the header.
tf
Robex news:
Two Confidentiality Agreements Signed With Robex: Filing With Standard & Poor's-USA; Filing 'Annual Information Form' via SEDAR
Tuesday March 18, 11:50 am ET
STE-FOY, QUEBEC--Robex is pleased to announce the signing of two confidentiality agreements, one with a major gold producer and the other with an intermediate gold producer, with a view to visiting the property to evaluate the possibility of entering into a participation agreement to explore and develop the Diangounte property situate in Mali, West Africa. In December, Robex completed a prefeasibility study with a view to putting into production a part of its surface gold orebody at the LaCorne zone. This portion contains indicated resources in conformity with Standard 43-101 of 1,781,568m3 of lateritic minerals grading 3.22g/m3 equivalent to 184,533 ounces of gold. This resource will permit a yearly production of 30,000 ounces of gold for more than five (5) years. A direct production cost is foreseen of US$66.32 per ounce with an operating cost of US$5.87 per m3. The study foresees a realizable net value of US$23M with a gold price of US$325 per ounce. The cost of putt
ing the deposit into production evaluated at US$6M with an investment payback of fourteen (14) months. At 50 % equity, the internal rate of return is 176.91 %. Robex is currently studying the best way to finance the project.
The surface deposit contains, in addition to the above mentioned resource, an additional inferred resource at LaCorne of 207,000 ounces of gold and at Dialaki South an other 192,702 ounces of gold. The primary source of gold underlying LaCorne is indicated by the angularity of gold grains and by saprolitic diorite samples at a depth below those of surface enrichment confirming the underlying primary source of gold.
The Diangounte property offers additional potential in the Katabali, Dialaki Secant and Dialaki South corridors which extend for more than 1.5 km in length by 300 metres wide. The Tomoronkonlon zone, traced for 1.5 km in length and 1 km in width is characterized by well-leached meta-volcanics and meta-sediments which contain abondant visible gold. The Bodibato and Rhyolite zones offer additional interesting potential.
Robex files with Standard & Poor's (USA)
Robex is pleased to announce that it has completed its filing with Standard & Poor's of New-York which permits it to open a "Blue Sky" registration, authorizing investors from several American States to hold Robex shares in an account at their local brokerage houses.
Robex files at the Alberta and British Columbia Stock Exchanges
Robex has filed the necessary forms for registration with the Alberta and British Columbia Stock Exchanges for filing its Sedar "Annual Information Form (AIF)" with a view to facilitating finan-cings which could be completed in other Canadian Provinces.
--------------------------------------------------------------------------------
Contact:
ROBEX RESOURCES INC.
Stewart Robertson
Director - Trenton, Ontario
Phone: (613) 392-2646
or
ROBEX RESOURCES INC.
Andre Vezina
Vice president corporate development-Quebec
Phone: (418) 670-1422
or
ROBEX RESOURCES INC.
Marcel Bedard
President
marcelbedard@sympatico.ca
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
North Atlantic Nickel Corporation added to the header.
Odd name for a company exploring for gold in Mali (g).
tf
Semafo News:
Press Release Source: Semafo Inc.
Semafo Inc. - High Gold Recovery Indicated from Bottle Roll Leach Tests at the Wona Deposit
Wednesday March 19, 12:31 pm ET
MONTREAL, March 19 /CNW Telbec/ - SEMAFO (TSX - SMF) is pleased to announce the results of the first bottle roll leach tests performed in December 2002 on the gold-bearing material from the Wona deposit and on further tests on the Nyafé deposit. The deposits represent the two most developed gold mineralized structures located on the Mana property in Burkina Faso.
- WONA STRUCTURE
The results of the tests show that cyanide leaching could easily be used to extract the gold from the oxidized mineralized material at Wona. Table 1 below show an average recovery of 93% ranging from 86 to 98% up to a maximum vertically tested depth of 65 metres.
Table 1 - Tests on the Wona oxidized material:
_________________________________________________________________________
Hole no North East No of 5-meter Average Length of Grade
samples recovery (%) intersection g/t Au
tested (m)
_________________________________________________________________________
WRC-37 4200 2564 2 91,7 8 2,74
_________________________________________________________________________
WRC-38 4405 2592 6 93,4 27 3,08
_________________________________________________________________________
WRC-40 4500 2570 3 93,9 17 2,72
_________________________________________________________________________
WRC-41 4700 2552 3 86,3 13 2,35
_________________________________________________________________________
WRC-43 5060 2494 2 88,4 7 2,30
_________________________________________________________________________
WRC-46 5220 2482 1 93,4 5 3,14
_________________________________________________________________________
WRC-47 5220 2482 4 95,4 19 12,89
_________________________________________________________________________
WRC-49 5500 2489 3 94,6 3 / 9 5,10 / 2,42
_________________________________________________________________________
WRC-51 5900 2475 4 89,4 29 3,63
_________________________________________________________________________
WRC-53 6100 2500 9 89,9 42 3,64
_________________________________________________________________________
WRC-57 6200 2485 9 89,8 44 4,81
_________________________________________________________________________
WRC-58 6300 2467 7 92,9 35 4,85
_________________________________________________________________________
WRC-60 6296 2415 9 94,7 42 3,36
_________________________________________________________________________
WRC-59 6400 2450 10 90,4 47 4,40
_________________________________________________________________________
WRC-61 6500 2425 6 92,8 19 3,05
_________________________________________________________________________
WRC-82 6550 2340 5 90,1 25 3,01
_________________________________________________________________________
WRC-62 6600 2364 1 97,7 2 1,80
_________________________________________________________________________
WRC-83 6600 2330 2 87,2 12 2,37
_________________________________________________________________________
WRC-63 6700 2345 1 97,3 2 1,74
_________________________________________________________________________
During the last RC drilling campaign carried out in 2002 on the Wona and Nyafé structures, a total of 91 samples were collected, from the Wona gold mineralized structure and a total of 23 from the Nyafé structure. Each sample was recovered from the original RC cuttings stored at the site and represented increments of 5 metres or less from the recognized mineralized intersections. The samples were then shipped to Reminex-Managem metallurgical research facilities in Marrakech, Morocco where the bottle roll tests were completed.
The samples recovered from the Wona zone were taken every 5 meters from the mineralized intersections to depths varying from 7 to 70 meters with the objective of establishing the variability of leaching with depth and grade.
The chemical assays on Wona show an average gold grade of 3,60 g/t Au (from 0,75 g/t to 22,04 g/t), an average silver grade of 5 g/t Ag and average of 6% Fe
The samples have also been assayed for their gold, silver contents and for cyanide-killer elements such as copper, arsenic and iron. A preliminary mineralogical study using x-ray diffraction was also completed which revealed the presence of iron oxides and hydroxides (goethite and hematite) and aluminium silicates (muscovite and kaolinite).
- NYAFE STRUCTURE
For the Nyafé structure, the recent series of tests confirmed previous evaluations showing (see Table 2) that 70% of the samples representing mostly oxidized gold-bearing material are cyanide-leachable with an expected recovery of 80% of the metal.
Table 2 - Tests on the Nyafé material:
_________________________________________________________________________
Hole no North East No of 5-meter Average Length of Grade
samples recovery (%) intersection g/t Au
tested (m)
_________________________________________________________________________
NRC-131 3100 4546 2 5,0 7 2,73
_________________________________________________________________________
NRC-132 3150 4608 3 83,8 12 4,85
_________________________________________________________________________
NRC-133 3150 4572 4 19,3 16 5,40
_________________________________________________________________________
NRC-135 3247 4752 1 31,0 2 1,66
_________________________________________________________________________
NRC-120 3797 4679 2 92,3 7 10,82
_________________________________________________________________________
NRC-115 4349 4786 1 85,8 5 9,02
_________________________________________________________________________
NRC-113 4854 4956 2 68,2 10 18,90
_________________________________________________________________________
NRC-137 5100 4940 1 85,3 2 4,83
_________________________________________________________________________
NRC-138 5200 5078 2 81,7 5 3,75
_________________________________________________________________________
NRC-129 5202 5044 3 87,2 12 7,78
_________________________________________________________________________
NRC-141 5400 5100 2 79,4 10 2,12
_________________________________________________________________________
The presence of important quantities of refractory arsenopyrite into the sulphide-bearing lower portions of the mineralized structure would explain the low recovery factors. Chemical assays on the Nyafé mineralized material show an average gold content of 6,30 g/t Au (from 0,86 g/t to 21,0 g/t); a silver content varying from 1 to 31 g/t Ag; an arsenic content usually high and varying from 280 ppm to 1,6% and iron (Fe) varying from 5 to 9%.
The exploration program generating these results was designed and managed under the supervision of Abdelhafid Miri, senior project geologist and the direction of Ali Saquaque, Managem's director of international exploration. The data contained in this press release is derived from a Reminex technical report and has been reviewed by Michel Cormier, geological-engineer and Semafo's Qualified Person.
Further metallurgical tests and a complete mineralogical picture will be developed during the course of the in-house feasibility study currently in progress.
SEMAFO INC., IS A MINING COMPANY WHOSE MISSION IS TO EXPLORE AND DEVELOP
GOLD AND BASE METAL DEPOSITS IN WEST AFRICA
More extensive information on Semafo can be found on our home page
at http://www.semafo.com
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED
THE CONTENT OF THIS RELEASE
For further information
MONTREAL: Benoit La Salle, President, (514) 744-4408, Fax: (514) 744-2291, E-Mail: blasalle@semafo.com
RENMARK: Neil Murray-Lyon, (514) 939-3989, Fax: (514) 939-3717, E-Mail: nmurraylyon@renmarkfinancial.com
CASABLANCA: Mostafa Hammoud, International Director Managem, 212 (-22) -95-65-71, Fax: 212-22-95-64-71, E-Mail : hammoud@managem-ona.com
I received a brief email from Michael Power at Moydow. According to Michael, they are still talking to Newmont about Ghana, ironing out details. They had hoped to finalize last week at the PDAC but it didn't happen. There will be a news release soon to update on this and Newfoundland. There is no new feasability study being done for Ntotoroso but Newmont is drilling on their side.
tf
St Jude News
Press Release Source: St. Jude Resources Ltd.
St. Jude Discovers New High Grade Gold Deposit at South Benso
Wednesday March 19, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--St. Jude Resources Ltd. (SJD - TSX Venture) is pleased to announce the discovery of a new high-grade gold zone at the South Benso concession in Ghana, West Africa. The South Benso concession is a joint venture with Fairstar Explorations Inc. The discovery hole at the "G- Zone" intersected 42 meters of 6.9 grams per ton gold. The G-Zone is located south west of the Subriso West gold deposit and is the first of seven new highly prospective geochemical gold anomalies. These new anomalies were established by re-interpreting the local geology where the presence of quartz-feldspar porphyry intrusions is now known to have a significant impact on gold mineralization in the entire Subriso area. The table below sets out significant new drill results from South Benso.
Hole # Dip Azimuth Coordinates From - To Interval Grade
Degrees North East (m) Width g/t
(-) (m) (m) (m) Au
------------------------------------------------------------------
G-ZONE
------------------------------------------------------------------
122 RC -45 90 600N -1675E 19 - 22 3 2.99
------------------------------------------------------------------
27 - 41 14 2.35
------------------------------------------------------------------
123 RC -45 90 600N -1700E 25 - 67 42 6.9
------------------------------------------------------------------
46 - 67 21 10.09
------------------------------------------------------------------
126 RC -45 90 650N -1700E 6 - 9 3 3.45
------------------------------------------------------------------
26 - 36 10 1.79
------------------------------------------------------------------
127 C -45 90 600N -1725E 89 - 94 5 4.82
------------------------------------------------------------------
130 C -45 90 550N -1675E 0 - 8 8 1.92
------------------------------------------------------------------
131 C -45 90 650N -1725E 49 - 61 12 3.96
------------------------------------------------------------------
SUBRISO CENTRAL
------------------------------------------------------------------
119R C -45 40 854N -1336E 127 - 133 6 4.1
------------------------------------------------------------------
172 - 180 8 2.07
------------------------------------------------------------------
120 R -45 40 853N -1302E 85 - 91 6 3.13
------------------------------------------------------------------
123 - 154 31 3.73
------------------------------------------------------------------
129 C -45 40 944N -1252E 0 - 5 5 5.12
------------------------------------------------------------------
SUBRISO EAST
------------------------------------------------------------------
121 R -45 90 1256N 479E 108 - 121 13 1.11
------------------------------------------------------------------
128 - 130 2 14.89
------------------------------------------------------------------
EXPLORATION
------------------------------------------------------------------
101 C -45 40 732 1182 91 - 94 3 6.6
------------------------------------------------------------------
100 - 105 5 3.66
------------------------------------------------------------------
106 C -45 40 991 1315 45 - 47 2 2.61
------------------------------------------------------------------
109 C -70 40 921 1304 140 - 147 7 3.16
------------------------------------------------------------------
110 C -65 40 888 1337 191 - 200 9 2.77
------------------------------------------------------------------
St. Jude's exploration team has mobilized pitting, trenching and drill crews that are now aggressively examining extensions of the G-Zone and the six other new prospects. Once this phase of drilling is complete, previous results from Subriso Central (12 m of 78 g/t), Subriso West (36 m of 7.16 g/t), Subriso East (10 m of 14.49 g/t), will be incorporated with new results from the G-Zone area into a preliminary gold resource estimate at South Benso.
St. Jude is a leading West Africa explorer with three high quality gold projects in Ghana and Burkina Faso. These projects cover over 300 square kilometers of one of the most prolific gold belts in the world, which is host to several multi-million ounce deposits. The Subriso area at South Benso is less than 30 kilometers from the initial 936,000 ounce gold resource (indicated 562,000 inferred 374,000) already established at Hwini-Butre.
ST. JUDE RESOURCES LTD.
PER:
MICHAEL A. TERRELL, President
To view the map associated with this press release please click on the following link, http://www2.cdn-news.com/database/fax/2000/0319SJD.jpg.
--------------------------------------------------------------------------------
Contact:
St. Jude Resources Ltd.
Todd McMurray
Vice President, Corporate Development
Phone: (604) 940-6565
Fax: (604) 940-6566
Website: www.stjudegold.com
Odd how all the buying happened just before the close today.
Thought it might mean something but its probably just wishful thinking.
tf
Wow. The thread has become very quiet. Did EC scare everybody away?
:-0
How about those $2.00 predictions? They're looking really optimistic now eh?
tf
Jilbey news:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: JILBEY ENTERPRISES LTD.
TSX VENTURE SYMBOL: JLB
MARCH 18, 2003 - 16:30 EST
Jilbey Closes Private Placement
HALIFAX, NOVA SCOTIA--Jilbey Enterprises Ltd. (JLB-TSXV) (the
"Corporation") has closed the part and parcel private placement
announced on February 10, 2003. Proceeds to the Corporation was
$150,000 which will be used to fund work on the Burkina Faso gold
exploration permits acquired from High River Gold Mines Ltd. A
finder's fee of 70,000 common shares of the Corporation has been
paid and the hold period for all shares issued pursuant to the
financing is four months.
A work program for the properties in Burkina Faso is being
finalized and work is expected to commence as soon as possible.
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.
Mr. Daniel Whittaker
President
(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.
Here is some information on the new Newfoundland property from the Cornerstone website:
http://www.crigold.com/properties_truegrit.htm
The True Grit property consists of 356 claims (89 km2) in the emerging Bay d”Espoir Gold Belt of south central Newfoundland. The property hosts several of the most significant gold showings in the Bay d”Espoir Belt and is targeting multi-million ounce turbidite hosted gold deposits similar to the Ashanti Gold Belt in West Africa.
The property is host to two significant mineralized areas known as True Grit and Golden Grit.
The True Grit area is highlighted by a large (2600 meter long X 800 meter wide) gold/antimony/arsenic in soil anomaly that has received only early stage exploration. Two short drill holes completed by a prospector at True Grit South intersected significant gold mineralization including 42.2 meters grading 0.5 grams per tonne gold. The zone is a minimum 100 m wide and is open in all directions. Channel sampling 1 kilometer to the north of True Grit South returned 15.9 grams per tonne gold over a 1 meter channel sample within quartz veins hosted by sediments. No drilling has been completed in this area.
The Golden Grit anomaly is highlighted by a 1000 meter X 300 meter zone of gold in till, from which samples have returned over 370 individual gold grains, most of which are delicate in nature. Only limited trenching has taken place from which values as high as 16.9 grams per tonne gold have been returned from grab samples.
Cornerstone will continue with prospecting and trenching on the Golden Grit target and is actively pursuing a joint venture partner to aggressively explore the entire property.
tf
What's the significance of the list?
tf
Would have been a good day to get a stinky bid filled but all my funds tied up elsewhere unfortunately.
Seventy cents will look really cheap later this year.
tf
Yes, mid March is here and still no announcement. Noel knows Newmont needs Ntotoroso so
he must be holding out for the best deal he can get.
Patience is needed here in my opinion.
tf
At work. Can't call. If its today, great! If its not then it will be another day soon. No problem.
tf
Imagine the 1000's of miners running right on those Klondike claims and narry a fishcop in site. The slaughter, the thought of it hurts too much. Imagine being a fish. One minute your swimming along minding your own business, next thing you know you're in the guts of a dredge.
tf
A lot of the silt in the Yukon River enters from the White River, a glacier fed river which comes out of Kluane and is so named because of its high silt load. The Pelly and Stewart rivers contribute as well. In the Southern Yukon, the river runs through many lakes and the water is as clear as can be.
I can't agree with your statement that in the whole history of placer mining in the Yukon there hasn't been a reduction in fish population. I would argue that the streams of the Klondike; Eldorado, Rabbit, Bonanza etc were good fish habitat in 1898 but not shortly thereafter. Once the rush was on it wasn't just the fish who had problems. Along the trail in the Southern Yukon, whole populations of Caribou were wiped out by those heading to the Klondike.
In the early 1900's the whole lower portion of the Klondike River valley was dredged. I imagine that part of the river was void of fish during that time as a result.
Not that I'm a fan of DFO.
By the way, there's some nice grayling streams in the upper reaches of the Klondike, south of the Ogilvie Mountains.
tf
Thanks dsv. I guess we'll wait and see.
tf
No, I didnt get through. Monday would be great, I won't count on it though. If it happens it happens.
There's an old adage that says "no news is good news". I think it might be true in our case
and we'll eventually be rewarded for our patience.
tf
New AMI website. Header updated.
http://www.mininggroup.com/
tf
Great Quest news:
March 11 , 2003 Trading Symbol: CDNX-GQ
Great Quest Announces Resignation of a DirectGreat Quest Plans Two Diamond Drill Programs For 2003
Great Quest has a busy schedule set for 2003 with the focus on two drill programs. The first diamond drill program of about 750 meters will be drilled on the Baroya and Kenieba concessions in the spring. The preliminary plan calls for one hole each to test the Segala Extension and Baroya Central zones and two holes to test the Baroya Nord zone, all within the Baroya concession. One hole will test the "Teachers' Place" within the Kenieba concession. The Teachers' Place is an area where two gold-bearing, vein-sets intersect. All of these zones consist of 2 or more sets of quartz veins with gold mineralization.
The second drill program will be a follow up to the 2002 drill program on the Bourdala concessions. The positive intersections of gold mineralization will be followed up in the Damba Massa zone and the TD, Nanike Sodjigui and Drin Drin areas with special emphasis to be placed on the Damba Massa zone where Hole 06 intersected 24 metres of 2.01 g/t gold and 5 metres of 8.63 g/t gold. In addition, some drilling is contemplated in the Niaragui concession as well as on the Saba Konkon zone. The drill programs are subject to financing.
Recently a program of geological mapping, soil sampling and pit sampling was completed on the Niaragui concession where several zones of orpaillage occur. Results should be available in March. A similar program will be undertaken on the newly acquired Bourdala Sud concession. A priority of the program will be to trace the Damba Massa zone through geological mapping and soil sampling. This zone appears to be striking toward the TD area. Results from this program should be due in April.
Finally, the company is planning some more geological mapping and soil sampling on the Kenieba concession.
On behalf of the Board of Directors,
GREAT QUEST METALS LTD.
"Signed"
Willis W. Osborne
President
There's one in the header.
The pan looks salted though. (ggg)
tf
This Tulameen river area that Brightstar is in sounds fascinating. Placer platinum, didn't know such a thing existed. Any idea what a platinum nugget looks like? Hard to imagine since its not a malleable metal like gold. I've seen plenty of gold nuggets before having spent a bit of time in the Klondike.
tf
Gallery news:
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: GALLERY RESOURCES LIMITED
TSX VENTURE SYMBOL: GYR
MARCH 14, 2003 - 13:17 EST
Gallery Resources Limited: Latest Drill Results at Katie
Indicate Extensive Epithermal Gold System
VANCOUVER, BRITISH COLUMBIA--Gallery Resources Limited (GYR:
TSX.V) of Vancouver, B.C. is pleased to announce that drilling on
the Black Bart VMS Zone has intersected epithermal alteration
over a 2.2 metre (7.5 ft) zone at a vertical depth of 70 metres
(230 ft). The zone displays textures and pyrite mineralization
typical of the Bruce Pond Epithermal Gold Zone located 1.6 km
(5,500 ft) south. This new development demonstrates that the
epithermal system may extensively underlie the 50,000-acre Katie
Property located in the Botwood Basin of central Newfoundland.
This hole was drilled on a 200 metre (656 ft) step-out to test
the northeast strike extension of the zinc enriched VMS zone
outlined during earlier drilling completed last summer. The hole
also intersected a 6 metre (20 ft) thick section of the VMS zone,
and this close association of VMS and Epithermal Mineralization
confirm earlier observations that these two styles of
mineralization may be related. (Please see press release March 4,
2003).
Project Manager Vic French advises this new epithermal alteration
and mineralization may be an extension of the Bruce Pond Zone.
Based on the distribution of gold concentrations in soils, the
zone is inferred to have a strike length of 1.6 kms (5,500 ft) in
a north direction. (Please see March 4 press release). The 2.2
metre (7.5 ft) zone is located along this trend and north of the
closest gold anomaly, which is located 400 metres (1,300 ft)
south.
This potential for considerable strike length for the epithermal
alteration is further indicated from a reinterpretation of
Induced Polarization (IP) data collected during earlier surveys,
just completed by Dr. Dennis Woods. His report submitted March 7,
2003 shows IP resistivity anomalies (indicative of pervasive
silica alteration in the epithermal zone) along the inferred
trend and corresponding to the gold anomalies.
The company has moved the drill to start testing this 1.6 km zone
of corresponding gold and IP anomalies. The first hole planned
along this trend was started last evening and collared in
sulphide mineralization below the 6 metre (20 ft) thick bog
cover. The immediate drill plans will focus on establishing the
extent of the epithermal system along the 1.6 kms (5,500 ft)
separating the Bruce Pond Epithermal and Black Bart VMS Zones and
will avail of the good drilling conditions afforded by the winter
freeze up. Core samples are being prepared for shipment and assay
results will be published as they become available.
Bruce Costerd, President & C.E.O.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Gallery Resources Limited
Investor Relations
(604) 662-8119 or Toll Free, Canada & USA: 1-800-565-7350
(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.
Regarding CBD
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18702196
With drill program commencing soon it may be a good time to take a position. Not in yet.
tf
bayview3, I'd kiss the blarney stone and find four leafed clover if I thought it would help close the deal.
tf
dsv. I took from the Cornerstone release that there is a new feasability study underway for Ntotoroso. It sounds like you are confirming that. Did the people working the table say when they expected to get results of the study? Any hint of what they expect from the new study?
Regarding NFLD, where will they be concentrating first, their Botwood claims or the new ground acquired from Cornerstone?
Anything else you can think of ??
Thanks,
tf
No update unfortunately. I got an answering machine instead. I will try again later if I don't get a call back.
tf
New board created for Novawest and Brightstar:
#board-1617
tf
Here is a write-up on Candente from the "Resource Opportunities" newsletter:
http://www.resourceopportunities.com/s/RecentSampleReports.asp
Candente Resource Corp.
(DNT-TSXV)
Candente recently reported a couple of news items with very important implications that may not yet be fully appreciated by investors.
On February 5, the company reported assay results from surface sampling on its Alto Dorado property in Peru. The results, from trenches and pits, ranged up to 3.6 grams per tonne. These results are extremely significant in that the geological setting and the rocks that produced those grades are similar to those found in the huge Yanacocha and Pierina deposits, which lie to the north and south, respectively, of Alto Dorado.
Previous work on the property encountered only low gold values in soil geochemical samples taken in the area. Vice-president of exploration, Fredie Huanqui, is using the same exploration approach that he employed in the early days of exploration at Pierina: he brought in crews of local labourers to dig pits through the several meters of soil in order to sample the bedrock directly.
The work being done by Candente is a good example of why junior explorers are often more successful than the larger companies. In the previous program at Alto Dorado, the major sampled the soil only to about 1 meter depth. Finding only low gold values in the soils, the company dropped the project.
In contrast, Fredie insisted on getting all with through to the bedrock -- up to 5 meters below the soil surface. That is a deep hole in the ground, and represents much more effort than would be employed by most mining companies. Having established the presence of gold in the bedrock, Candente now plans to bring in a small drill rig in order to systematically sample the bedrock.
Candente has a strong exploration team in Peru, including geologists with hands-on experience at Yanacocha. That exploration team is excited about what they're finding at Alto Dorado.
Candente has numerous other projects in Peru, including a group of properties staked in an emerging gold belt in southern Peru. Anglo Gold has apparently outlined a substantial deposit in this area and is conducting a regional program. The major, as frequently occurs, may find that the best prospects have already been staked by a nimble junior. As a result, Anglo, Newmont or the other majors may have to enter into a joint venture agreements with Candente in order to gain access to some of the top prospects.
Peru is only half of the story of Candente. The company also has one of the larger land positions in the emerging Botwood Basin region of Newfoundland. Barrick endorsed the concept that the Botwood Basin area may be an analog of the Carlin Trend in Nevada, the world's second largest depository of gold, by optioning a property in the district.
A second major mining company has now officially recognized the enormous significance of this district. Goldcorp has just announced a C$1 million investment in Candente, by way of a private placement at C$0.60, with a half warrant at C$0.90 in the first year and C$1.10 in the second year. The financing deal carries no strings, although the junior company announced its intentions to develop a "strategic partnership" with Goldcorp for exploration of the company's Newfoundland properties.
Whatever form the balance of the deal takes, it will be negotiated independent of the investments already made by Goldcorp in the junior explorer. It is clear that Goldcorp sees potential in the Newfoundland project, and places a high value on the property position held by Candente, as well as the geological team that assembled that property position.
Candente's exploration properties are all at an early stage, but those projects have large-scale potential and the company has better than average prospects for delivering success. It is important to remember that Barrick's 1996 takeover offer for Arequipa came after only nine drill holes on the Pierina project. That offer was raised to C$30 per share, or nearly C$1 billion, before the junior could complete another 20 drill holes.
Candente has a lot of shots at a big success. The investment by Goldcorp provides an added endorsement (not that one was needed) and adds cash to keep the projects moving forward.
Candente is building an ever larger following of loyal believers. I encourage subscribers to maintain a position in this company. It's not too late to acquire a stake if you don't already own some Candente. More than most explorers, this company offers upside potential in the near term through growing investor awareness, and several chances of a home run.
Price February 10, 2003: C$0.73
Shares Outstanding: 21.1 million
Market Cap: C$15.4 million
Contact: Reg Advocaat
604-689-1957
www.candente.com
Here is a recent write up on PMI
From Resource Opportunities newsletter:
http://www.resourceopportunities.com/s/RecentSampleReports.asp
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
Thats a loaded question. For what its worth I believe we had a bit of a disconnect between
POG and the juniors. Thats why the juniors for the most part haven't come down too hard with this
correction. I don't think we'll see much downside in AGI as long as gold holds around $330 or better.
If gold goes lower then all bets are off.
You would think that AGI will be more affected by POG moves than the pure explorers because they plan
on mining this year. If gold moves back up again for fundamental economic reasons rather than
war worries, then I think we should see AGI go up as well. Thats a two edged sword though, could go the
opposite direction.
tf
Not familiar with them. I have a perception that there is greater political risk involved with these South African miners but I could be wrong. Good luck with it.
tf
'Don't forget palladium,' says Johnson Matthey
By: Nicole Mordant
Posted: 2003/03/10 Mon 17:58 ZE2 / © Mineweb 1997-2003
TORONTO - World-leading autocatalyst manufacturer, Johnson Matthey, is hard at work extolling the virtues of palladium to car makers in an attempt to alleviate the current demand stress on platinum. The price of platinum hurtled to 23 year highs in February, partly on demand pressure, fuelling concerns in the market that it could mimic palladium's disastrous rise-and-fall scenario that saw rampant demand wither when car makers switched to cheaper platinum.
"What we are saying to car companies is ‘don't forget palladium'," Gordon Bassett, the general manager for Johnson Matthey's precious metals marketing unit in the United States told Mineweb on the fringes of the PDAC conference in Toronto.
"We are working with car companies to encourage them to have a good mix of platinum and palladium catalysts. We are saying ‘utilise more palladium so as not to put so much strain on platinum'."
The message was bearing fruit with "some slight movement" back to palladium already evident, Bassett said.
Car manufacturers use palladium and platinum in the manufacture of autocatalysts, components that eliminate harmful gasses from exhaust fumes. Autocatalysts are required by law in vehicles on the roads of North America, Japan, Europe and parts of Asia.
Autocatalyst manufacture is by far the biggest demand sector for palladium, annually using more of the metal than all other applications put together. That said, demand from this sector plummeted by 38% last year to 3.16 million oz, the third year in a row that demand has contracted. Following palladium's surge to record levels of more than $1,000 in the late 1990s, autocatalyst manufacturers switched to less expensive platinum, sparking a collapse in the price of palladium to around $220.
Bassett said the "use palladium" message was easier to press home in the United States, where gasoline vehicles predominate, than in Europe, where fuel-efficient diesel vehicles are continuing to make deep inroads into vehicle sales. Diesels, which can only use platinum-based catalysts, as opposed to gasoline engines that can also use palladium catalysts, are expected to have made up 40% of passenger vehicle sales in Europe in 2002.
Bassett said the reasons for palladium's rampant volatility in the late 1990s were a thing of the past. Car manufacturers were no longer dependent on notoriously unreliable Russian supplies and more reliable supplies were forthcoming from South Africa as the palladium-richer UG2 reef began to be mined with greater vigour. The availability of more above-ground stocks, that is, palladium recycled from spent autocatalysts, could also provide car companies with the comfort of uninterrupted supply.
Almaden finds more high grade gold at Siwash Mine
By: Tim Wood
Posted: 2003/03/03 Mon 15:07 EST / © Mineweb 1997-2003
VANCOUVER -- Almaden [AMM] continues to progress its Siwash Mine in preparation for a restart of operations.
Located in Southern British Columbia, Siwash produced gold through the 1990s from high grade mesothermal quartz veins, accessed from an open pit and underground. The mine was put on care and maintenance after producing 51,750 ounces of gold, but is now slated for a restart after promising exploration.
Siwash has total mineralised gold of 141,962 ounces in 123,142 tons according to the last drill results from 2000. A sixteen hole, 5,000 meter diamond drill program was completed in September last year which results will be incorporated into an updated resource estimate.
Almaden has secured a second-hand mill that is being shipped to Siwash in anticipation of a mining restart in the medium-term at the nearly fully permitted mine.
The 2002 season focused on several veins. The WD vein, which has been traced along strike for a length of 525 meters and down dip for 320 meters, had a best intercept of half an ounce per ton over 2.15m. Another notable intercept was recorded from the Bullion Creek structure.
Almaden notes a possible extension to its B and WD vein systems; two kilometres along strike to the east which was discovered after a 2001 trenching programme. Grab samples from surface returned very strong gold and silver results, as did a panel sample from the trench wall, confirming the extension's potential.
Aside from the Siwash project, Almaden has several promising joint ventures covering fire covering gold, diamonds and base metals exploration. Through its joint ventures, it has also accumulated a handy investment portfolio worth C$250,000 that includes Troymin, Santoy, Aurcana, Ross River, Ascot, Copper Ridge, Grid Capital, Brett, Pacific Comox, Quartz Mountain
I'll call tomorrow. Can't today.
tf
Gold $331. Wow.
tf
Thanks for the update. I hope you meant ongoing and not ungoing,
ungoing sounds like the opposite of what we want (g).
I see we finished the day bid .89. How exciting (g).
tf
Dow Jones Story:
By Lynne Olver
Of DOW JONES NEWSWIRES
TORONTO (Dow Jones)--Junior exploration firm Rubicon Minerals Corp. (V.RMX)
has acquired a portfolio of cash streams on properties in the Red Lake gold
camp in Ontario, and in the process hired the services of well-known Ontario
prospector Perry English.
Earlier this week, Rubicon said it acquired interests in 63 mineral
properties from English for C$500,000 and 250,000 shares, which had a value
Monday of just more than C$250,000. The deal gives Rubicon rights to receive
all payments from the mineral properties, which are optioned to 21 different
exploration companies, including 14 properties optioned by Rubicon itself. If
a discovery is found on them and in the event mineral production begins,
Rubicon is also entitled to royalties.
Rubicon said the scheduled 2003 option payments are C$360,000 in cash, plus
shares valued at an estimated C$220,000, offering a two-year payback. Its
shareholders will be exposed directly to Rubicon's own drilling programs at
Red Lake, and indirectly to any exploration success by competitors on the
optioned properties.
Vancouver-based Rubicon also wanted to tie up English's services for the
next several years, and will pay him a consulting salary of C$75,000 a year
for at least two years. "It's not just a question of acquiring what he's got
now, but what he might generate over the next couple of years," Rubicon
president David Adamson told Dow Jones this week at a Toronto mining
convention.
He described the deal as unusual in the junior exploration business. "If
it's not unique, it's almost unique," Adamson said.
Rubicon is already a big landholder in the Red Lake area, where Goldcorp
Inc.'s (GG) Red Lake mine is situated. The junior company started acquiring
ground there about seven years ago.
"At a relatively early stage, we became aware of what was then a fly in the
ointment: this guy, Perry English, held a lot of property in the belt and in
our view, it was a lot of good property," Adamson said.
Prospector Became Too Busy
English, 51, said he started in the prospecting business 15 or 20 years ago
with a property or two. "After I made my first deal I figured, geez, this is
simple, so I started acquiring more and more land," English said, adding that
he later found it wasn't so simple. His business got to the point where the
land holdings became too extensive to manage, and prevented him from spending
time prospecting in the bush.
"If you take 60-some-odd deals, most companies would have a whole little
division looking after it," English told Dow Jones. "I'm trying to do it with
the help of my wife and I can't do it anymore."
He was approached by several companies interested in a deal for his property
interests. English said he chose Rubicon because they've been able to work in
the past on a handshake, and he calls the Rubicon team "more than adequate"
technically.
He also noted that he isn't doing the deal out of the goodness of his heart.
"I get a chunk of cash and these people are letting me keep my finger in
things; I'm still going to continue to vend properties," English said. "I like
that, because I've been at this for a while and it would be hard to get right
out of it."
He spends most of his winters in Souris, Manitoba, just outside Brandon, but
still spends summers in Red Lake.
Rubicon wanted to control the cash-flow stream primarily from its own
optioned properties, but was also interested in becoming "the landlords" of
the other properties English had optioned, Adamson said. After the two-year
payback, Rubicon will generate cash flow in year three and beyond. It will
also have "lottery tickets" that will pay off if other players are successful
on lands optioned from English, Adamson noted.
Rubicon and joint-venture partner AngloGold Ltd. (AU) plan to spend C$5
million on exploration at Red Lake this year, most of it on the McFinley
project, Adamson said.
Company Web Site: http://www.rubiconminerals.com
-Lynne Olver, Dow Jones Newswires; 416-306-2028
lynne.olver@dowjones.com