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NEWS OUT! Coastal Pacific Announces Santa Rita Letter of Intent
2010-10-26 06:00 ET - News Release
CALGARY, AB -- (MARKET WIRE) -- 10/26/10
Coastal Pacific Mining Corp. (OTCBB: CPMCF) ("Coastal Pacific" or the "Company") is pleased to announce it has entered into a letter of intent with Mr. Hans Peter Flueck to enter into an option Agreement to earn a 50% interest in a group of claims known as the Santa Rita ("Property").
The Property is situated in the District of Acobambilla, Province of Huancavelica, Department of Huancavelica, in the Republic of Peru; approximately 200 km southeast of Lima.
The claims are centered on Universal Transverse Mercator coordinate system, Provisional South American Datum 1956, zone 18L, 456,480 meters East and 854,570 meters north. The mineralization occurs within the Jumasha Formation on the west limb of an important anticlinal structure striking northwest. Normal faults parallel to the fold axis have developed on both limbs producing the rugged topography observed in the area. The Jumasha Formation comprises massive to thick-bedded sequence of limestone inter-bedded with minor dolomites. It is an important formation in central Peru where it hosts skarn deposits.
A 43-101 Technical Report exists which refers to several vein mineralizations characterized by elevated silver, lead and zinc content with averages of 290 g/t, 65% and 7% respectively.
Based on the engineering report, the Santa Rita has open pit potential with an excess of 1,300,000 tons of mineralization identified with a current potential value of over $350,000,000, based on approximately $500 per ton head grade. It has wide veins and a surface manto which are attractive features of the Property. There is potential of a much larger manto underlying the one at surface, which could be immense in size.
Discussions with several accomplished geologists suggest that the existence of a much larger manto beneath the surface manto is quite likely, but further drilling would be required to confirm its existence.
Coastal Pacific's letter of intent will be open for 21 days, during which time the NI43-101 compliant technical report and other available information will be reviewed, and an option agreement to earn in 50% of the Santa Rita group of claims would be completed.
Mr. Bucci, President of Coastal, says, "This is exactly the type of asset that would serve to greatly enhance our portfolio, and has the potential to put the Company in positive cash flow in the near future, enhancing shareholder value."
About Coastal Pacific
Coastal Pacific activities are to explore, develop and mine gold and silver resources in North and South America. As its primary focus, Coastal Pacific will joint venture with companies having reserves to develop and produce. Currently the Company is in a joint venture agreement in Ontario, Canada.
Our philosophy is to participate with companies who are in the later stage of exploration and are ready for development. Gold and silver have been used as money for over 3,000 years. History has shown that in periods of market downturns gold and silver have proven to be a dependable hedge for investors against both inflation and any monetary crisis.
Cautionary note:
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Contact:
Joesph Bucci
President
403.612.3001 begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting
joebucci@coastalpacificminingcorp.com
Coastal Pacific Mining Corp.
927 Drury Ave NE
Calgary, Alberta T2E 0M3
Web: www.coastalpacificminingcorp.com
For information: info@coastalpacificminingcorp.com
MORE NEWS!
Coastal Pacific Mining Examines the History of the Hotstone Gold Property Located in the Swayze Greenstone Belt South-West of Timmins, Ontario
2010-10-25 08:35 ET - News Release
CALGARY, AB -- (MARKET WIRE) -- 10/25/10
Coastal Pacific Mining Corp. (OTCBB: CPMCF) announced today that the company is compiling and examining the historical data on the Optioned Hotstone Gold Property, located within the Swayze Greenstone Belt, an extension of the famous Abitibi Greenstone Belt and the Porcupine and West Porcupine Gold Mining Camps.
The Hotstone Gold Property consists of 5 claim blocks (approximately 120 hectares), located in Greenlaw Township, 130 km south-west of Timmins, Ontario and approximately 50 km east-south-east of Chapleau, Ontario.
Hotstone Gold Property History
From the pre-cursory examination of historical data on the Hotstone Gold Property, the Company has discovered valuable information concerning known Gold mineralization.
All of the data, findings, and information discussed in this release are historical in nature and are not compliant with National Instrument 43-101.
Since the early 1930s the focus of gold exploration in the area has been on a large east-west trending quartz-carbonate fuchsite alteration shear zone exposed on the south-west shoreline of Hotstone Lake that currently can be traced within the property for over 1600 meters.
In 1941 V.B. Meen reported finding free gold in a trench within the large quartz-carbonate fuchsite alteration shear zone.
In 1942, a prospector by the last name of Kenty, from Cobalt, Ontario, did extensive trenching and gold panning on numerous quartz veins within the carbonate zone on previous mining claims S34780, S34720, S36208 and S36346, which are comprise part of the current property. Over 50 trenches were established with gold in quartz veins returning values as high as 89 g/ton or 3.14 oz/ton across widths of 0.6 meters. The carbonatized host rock generally gave values of less than 14 g/ton or 0.5 oz/ton.
During 1946, Hotstone Minerals Ltd. conducted a diamond drilling program of 26 holes totalling 3016 meters and reported one drill hole of 4.1 feet at 7.3 g/ton or .26 oz/ton and 13.3 g/ton or .47 oz/ton in sludge over 30 feet.
Kirkland Resources Incorporated/International Rhodes in 1983 merged their land holdings in the Hotstone Lake area and explored the area with Noranda (T-2853) acting as the program operator. The latter company completed extensive geological mapping, humus and soil sampling, as well as detailed trenching, surface channel sampling, and eight diamond drill holes (1022m) to test the carbonate shear zone for its economic gold potential. Drilling yielded high but erratic gold values (as high as 6.5 g/ton or 0.23 oz/ton across 1.4 metres).
All of the data, findings, and information discussed in this release are historical in nature and are not compliant with National Instrument 43-101.
While digging a sump for their stripping and washing program, Noranda Exploration discovered thirteen angular quartz boulders, which assayed on average 42.5 g/t gold or 1.5 oz/ton with values up to 396 g/t gold or 14 oz/ton gold. Company geologist for Noranda at the time, Jim Ireland, later the resident government geologist for the MNDM, described the most interesting feature of the property as a large well mineralized porphyry unit that was drilled by Noranada in March of 1985. The porphyry unit was in excess of 29 meters across, at a drill depth of approximately 200 meters. The drill log can be found in the assessment files in the Ontario mining recorders office in Timmins.
Orezone Resources Inc. in 1997 conducted a property visit and obtained samples from the high-grade pits and the altered shear zone. Anomalous gold values can be found throughout the alteration zone, while the best gold assays were from the 1930s, high-grade pits, of up to 24 g/t gold over 40 cm.
In 1998 D. Gibson performed grid construction and conducted magnetic and E.M. surveys. From the surveys a large Fraser Filter V.L.F. anomaly was identified coincidental with the location of the well mineralized porphyry unit drilled by Noranda in 1985. The Fraser Filter E.M. anomaly can be traced for 1200 meters within the property and as the focus of a phase 1 drilling program.
A 1000-foot drilling program in 1999 was undertaken by D. Gibson, in an attempt to drill into the "Noranada" porphyry unit. Three drill holes were established with a 65hp "Gopher" drill into the alteration zone to reach the 600-foot level, where the porphyry unit exists. Due to the extreme alteration/shearing, and broken nature of the zone, each drill hole was lost before reaching its target depth, where the porphyry unit exists. Noted in the assaying of each drill hole was the increase in gold values as the depth increased closer to the 600 ft level.
In 2006, D. Gibson completed ground magnetic, gravity and gold in soil geochemical surveys over the Hotstone Gold Property. Additional features were outlined by the exploration program including gold in soil anomalies coincidental with gravity anomalies along with a large magnetic signature associated with the extensive alteration shear zone.
From the examination of the historical data, Coastal Pacific has determined the Hotstone Gold Property to be a project of extremely high merit in the exploration and development of Gold Mineralization.
All of the data, findings, and information discussed in this release are historical in nature and are not compliant with National Instrument 43-101.
Coastal Pacific Mining Corp.
927 Drury Ave N.E.
Calgary, Alberta T2E 0M3
Web: www.coastalpacificminingcorp.com
For information: info@coastalpacificminingcorp.com
Cautionary note:
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1399806
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1399801
Contact:
Joseph Bucci
President
403.612.3001 begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting
joebucci@coastalpacificminingcorp.com
Coastal Pacific Gives Overview of Rich Regional Mining History of Timmins Region
2010-10-22 09:00 ET - News Release
CALGARY, AB -- (MARKET WIRE) -- 10/22/10
Coastal Pacific Mining Corp. (OTCBB: CPMCF) ("Coastal Pacific" or the "Company") established its interest in optioning the Hotstone Gold Property ("Hotstone") based not just on the positive historical exploration activity, but also on the rich and productive gold mining history in the region and the recent acquisition activity in the sector.
Hotstone is located 250 km from Timmins Gold Corp. which recently received an unsolicited $275 million takeover bid from Capital Gold, a New York based mining company which trades on the Toronto Stock Exchange.
The Porcupine Mining Camp, which encompasses several mining giants, is dotted with numerous head frames and open pit mines; some old, some newer, evidencing the tremendous mining heritage of the district. The Porcupine Mining Camp has produced both gold and base metals from a variety of mines through its 100 years of history.
The Porcupine Mining Camp is located along the famous Porcupine-Destor Fault, which runs 200km from Timmins to Destor in Quebec, with over 70 million ounces of gold produced from the camp -- at today's gold prices of approximately US$1300 per ounce equates to over US$91 billion.
There were the "Big Four" mining giants within the Porcupine Mining Camp which led the gold production for the area: the McIntyre, the Hollinger, the Pamour and the mighty Dome Mine.
The Hollinger Gold Mine
In October 1909, Benny Hollinger and Alex Gillies made the discovery that would lead to the beginning of the Porcupine Gold Rush and the world's largest gold mines. Benny Hollinger tripped over some outcrop covered in moss, as he and Alex Gillies were walking back to their camp. Benny uncovered a quartz vein that was laden with gold like the drippings of candle wax over the rocks. The Hollinger Mine operated from 1910 to 1968 and closed due to depleting ore reserves. The Hollinger Gold Mine was Canada's largest gold producer with 19.6 million ounces of gold produced while in operation.
The McIntyre Gold Mine
This was the 3rd largest gold producer in Canadian history, with a production of 10.8 million oz. Discovered by prospectors Alexander Olifant (alias Sandy McIntyre) and Hans Buttner who staked their claims on the shores of Pearl Lake in 1909. The McIntyre mine operated between 1912 and 1988 and consisted of an underground mining operation with several access shafts and vent raises as well as a mill, shops, and office buildings. The McIntyre arena was built in 1938 for the workers and their families. At one point copper was discovered within the McIntyre Mine, the Pearl Lake Porphyry, and by 1963, copper production exceeded gold production. The property was reclaimed in 2001 and today the City of Timmins has redeveloped the No. 11 head frame stands on the far shore of Pearl Lake as a heritage monument to the history of the McIntyre Gold Mine and the legacy of the gold mining in the Porcupine Mining Camp.
The Pamour Gold Mine
The Pamour ore body was first staked in 1909 by a prospector A.C. Brown, yet for a variety of reasons, such as the Great Fire of July 11, 1911, World War I, and the stock market crash of 1929, along with a general lack of funds, the mine had a difficult start-up.
It was not until 1935, when a deal between Noranda Mines Ltd. and Pamour Porcupine Mines Ltd. brought the mine into production
The Pamour Mine remained in production through Porcupine Joint Venture, a joint development project by Placer Dome Ltd. and Kinross Gold Corp which has kept the Pamour pit in operation until 2005.
The Mighty Dome Gold Mine
The first producing gold mine in the Porcupine Mining Camp, the Dome Gold Mine was discovered by a prospecting team led by Harry Preston and Jack Wilson who uncovered large mounds or domes of golden crusted quartz, which looked like large scoops of ice cream. The claims they staked to cover the area around the massive gold laden quartz would later be called "The Big Dome" and the name of mine.
The Dome Gold Mine has produced over 16 million ounces of gold to date, and is Canada's longest continuous producing Gold Mine with over 100 years of production in 2010.
The Porcupine Mining Camp has produced in excess of 70 million ounces of gold in its 100 year history, from numerous mines including the big four. Gold production in the area is set to duplicate its 100 years of success with the new development of the Lake Shore Gold Mine, which outline over 800,000 ounces by 2009 and is increased reserves at depth. There have recently been additional gold zones discovered by numerous mining companies west of the new Lake Shore Gold mine, which will extend the Porcupine Mining Camp, further westward from Timmins along the Destor-Porcupine Fault.
"The current price of gold coupled with historical information on the Hotstone Gold Property, and recent acquisition activity in the Timmins area are very encouraging," states Joe Bucci, President of Coastal. "Furthermore, with Hotstone being located in the area that these extraordinary producers have operated, that being within the Swayze Greenstone belt of Northern Ontario -- the southwestern extension of the Abitibi Greenstone belt -- our choice of projects demonstrates further promise."
About Coastal Pacific
Coastal Pacific activities are to explore, develop and mine gold and silver resources in North and South America. As its primary focus, Coastal Pacific will joint venture with companies having reserves to develop and produce. Currently the Company is in a joint venture agreement in Ontario, Canada.
Our philosophy is to participate with companies who are in the later stage of exploration and are ready for development. Gold and silver have been used as money for over 3,000 years. History has shown that in periods of market downturns gold and silver have proven to be a dependable hedge for investors against both inflation and any monetary crisis.
Cautionary note:
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Contact:
Joesph Bucci
President
403.612.3001 begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting
joebucci@coastalpacificminingcorp.com
Coastal Pacific Mining Corp.
927 Drury Avenue NE
Calgary, Alberta T2E 0M3
Web: www.coastalpacificminingcorp.com
For information: info@coastalpacificminingcorp.com
Coastal Pacific Hotstone Gold Property Information Update
2010-10-21 16:43 ET - News Release
CALGARY, AB -- (MARKET WIRE) -- 10/21/10
Coastal Pacific Mining Corp. (OTCBB: CPMCF) ("Coastal Pacific" or the "Company"), further to the release of October 6, 2010 announcing the entering into an option agreement for the Hotstone Gold Property in Ontario, Canada, is pleased to provide additional information on the Property.
The Hotstone Gold Property ("Property") is a drill ready gold prospect in Greenlaw Township, within the Swayze Greenstone belt of Northern Ontario, which is the southwestern extension of the Abitibi Greenstone belt ("Abitibi"). This belt is often referred to as the Canadian Fort Knox, as it has yielded over 160 million ounces of gold production. Currently, gold is trading at approximately US$1300 per ounce, which represents production worth over US$208 billion today.
The Abitibi is one of the largest greenstone belts in the world. These geologic bodies are considered prime hunting grounds for large mineral deposits of metals including gold, silver, copper, and zinc. The Abitibi is one of a handful of major mineral regions that extends from the great gold discoveries of Alaska to Greenland. Notably, the Porcupine Mining District (Timmins), which has produced in excess of 70 million ounces of gold from such famous producers as the Hollinger Mine, McIntyre Mine, Pamour Mine and Canada's longest continuously producing gold mine with 100 years production, the Placer Dome (Dome) Mine. The Kirkland Lake area, known as the Larder Lake Mining District, has produced in excess of 24 million ounces of gold with such famous producers as the Wright-Hargreaves Mine, the Lakeshore Mine and the Macassa Gold Mine.
After studying all of the available exploration data on the Property, the Company believes gold values may be improving as one approaches an intrusive at depth. A work program to expand on the resource and confirm results from 1998 is being commissioned by our VP of Exploration, David L. Gibson.
The Property has been the subject of gold exploration since the early 1930s, focused on a Quartz-Carbonate-Fuchsite Alteration shear zone, containing numerous gold showings, thought to be associated with an intrusive at depth.
Gold has been found within this large quartz-carbonate fuchsite alteration zone, which spans the extent of the Property from the east to the west. The alteration zone can be traced for over 1600 meters across the Property and was stripped for 600 meters in length by Noranda in the early 1980s. Anomalous gold values can be found throughout the alteration zone, with the best assays from quartz lenses, veins and the high-grade pits. A number of quartz veins and lenses found within the shear zone carry high gold values. Lenses within the shear zone vary in size from 8 feet long and 2 feet wide to 200 feet long and 4 feet wide with high erratic gold values. Two high-grade pits exist on a large quartz vein within the alteration zone where samples of up to 210 g/t gold or approximately 7.4 ounces per ton have been reported. In 1997, Orezone Resource Inc. obtained samples of 24 g/t gold or .85 ounces per ton over 0.4 meters from these high-grade pits on the quartz vein.
Within the Property there exists a large porphyry unit, which is coincidental with the alteration zone and a Fraser Filter E.M. anomaly. This anomaly runs the near extent of the property for 1200 meters and is associated with a drill hole put down by Noranda in the 1980s, which intersected 29 meters of well-mineralized quartz-feldspar porphyry. Drill logs exist, yet Noranda, as was a common practice by the company at the time, never published assay values.
A 1000-foot drilling program in 1999 performed by D. Gibson was undertaken in an attempt to drill into the porphyry unit. Three holes were drilled with a 65hp "Gopher" drill into the alteration zone to try and reach the 600-foot level, where the porphyry unit exists. Due to the extreme blocky-ness of the alteration and shearing, each drill hole was lost before contacting the porphyry unit. Noted in each hole was the increase in gold values as the depth increased, getting closer to the 600 ft level and the apparent contact of the porphyry unit. The core from the program was split and assayed at 1.5-meter intervals. The highest gold values were noted near the very ends of the holes where they were lost. Increased gold values of up to 1 g/t gold across 1.5m were reported near the end of the hole as it increased in depth towards the porphyry unit.
The Ontario Geological Survey in 1994, Map P.3265, identified numerous gold in surficial materials anomalies in Greenlaw Township within the Hotstone Gold Property, and just down ice of the Property. See "Particulate Gold Abundance in Surficial Materials" Map 3265.
Coastal Pacific activities are to explore, develop and mine gold and silver resources in North and South America. As its primary focus, Coastal Pacific will joint venture with companies having reserves to develop and produce. Currently the Company is in a joint venture agreement in Ontario, Canada.
Our philosophy is to participate with companies who are in the later stage of exploration and are ready for development. Gold and silver have been used as money for over 3,000 years. History has shown that in periods of market downturns gold and silver have proven to be a dependable hedge for investors against both inflation and any monetary crisis.
Cautionary note:
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Coastal Pacific Mining Corp.
927 Drury Avenue NE
Calgary, Alberta T2E 0M3
Web: www.coastalpacificminingcorp.com
For information: info@coastalpacificminingcorp.com
Contact:
Joseph Bucci
President
403.612.3001 begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting
joebucci@coastalpacificminingcorp.com
Coastal Pacific Launches New Website
2010-10-20 17:21 ET - News Release
CALGARY, AB -- (MARKET WIRE) -- 10/20/10
Coastal Pacific Mining Corp. (OTCBB: CPMCF) ("Coastal Pacific" or the "Company") announces that it has now launched its newly enhanced website, www.coastalpacificminingcorp.com.
Coastal Pacific Mining activities are to explore, develop and mine gold and silver resources in North and South America. As its primary focus, the Company will joint venture with companies offering reserves to develop and produce. Currently the company is in joint venture agreements in Ontario, Canada.
Our philosophy is to participate with Companies who are in the later stage of exploration and are ready for development. Gold and silver have been used as money for over 3,000 years. History has shown that in periods of market downturns gold and silver have proven to be a dependable hedge for investors against both inflation and any monetary crisis.
Cautionary note:
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Contact:
Joseph Bucci
President
403.612.3001 begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting begin_of_the_skype_highlighting 403.612.3001 end_of_the_skype_highlighting
joebucci@coastalpacificminingcorp.com
Coastal Pacific Mining Corp.
927 Drury Ave N.E.
Calgary, Alberta T2E 0M3
Web: www.coastalpacificminingcorp.com
For information: info@coastalpacificminingcorp.com
Coastal Pacific Options Hotstone Gold Property
2010-10-06 08:30 ET - News Release
CALGARY, AB -- (MARKET WIRE) -- 10/06/10
Coastal Pacific Mining Corp. (OTCBB: CPMCF) ("Coastal Pacific" or the "Company") announces that it has entered into an Option Agreement (the "Agreement") to earn a 50% undivided interest in a gold exploration prospect, known as the Hotstone property.
Under the terms of the Agreement, Coastal Pacific will issue 1,000,000 restricted shares of common stock and make cash payments of $100,000, with the first payment of $50,000 due within 60 days of entering into the Agreement, and the second payment due within six months of the date of the Agreement. Further, within a one year period, the Company will be required to fund a 1.5 million dollar exploration program on the property, in order to earn its 50% interest.
The Hotstone property is comprised of a 5 claim unit totaling approximately 120 hectares within the Greenlaw Township, located 50 km southeast of Chapleau, Ontario, and 130 km west-southwest of Timmins, Ontario, Canada.
The Hotstone property is located in the Swayze Greenstone Belt, which is an extension of the well known Abitibi Greenstone Belt -- home of producing gold camps such as Kirkland Lake, Matachewan, Porcupine (Timmins) and the emerging West Porcupine Gold Mining Camp.
The Company intends to dedicate all of its time and resources to the exploration and development of the Hotstone Property.
The Company was formed to seek mineral resource properties which have strong exploration and development potential for provable and producible reserves by way of joint ventures, options or direct acquisition.
Our philosophy is to participate with companies who are in the later stage of exploration and are ready for development. History has shown that in periods of market downturns, gold and silver have proven to be a dependable hedge for investors against both inflation and any monetary crisis.
Coastal Pacific Mining Corp.
927 Drury Ave N.E.
Calgary, Alberta T2E 0M3
Web: www.coastalpacificminingcorp.com
For information: info@coastalpacificminingcorp.com
I picked this up on a Stockwatch Scan. Low volume drop from .16 to .035 on October 20! 30 trades! Then 36 mil vol on 21st. 660 trades! Then 32 mil on Friday for 1539 trades!!!!! Have not done DD yet but frantically researching now!
I am seeing everthing you are seeing PM. I am with Stockwatch for LII and raw data.
That was a sell.
Remember gang there no shares available. And the pull back to .0008 is a gift as really no significant selling is going on. The MM's are in a quandry.
They are all buys.
Could this be more dilution?
I think Bill uses Quote Tracker because it integrates well with his broker and it is free for many starting out in trading. I am thinking of transitioning to Equityfeed because it has Level II but I want to make sure that it does everything all in one place. How is there charting? I am also concerned that the other exchanges are not includable (NYSE and AMEX) I know that NASDAQ can be added. This week Visa was on a run. Immediately, Equity feed is eliminated as a tool to watch Visa. Back to the splintered approach. Thoughts?
DCFF-What is the probability of a gap Monday???? This is Panetta Perfect!!
I do not own any of this stock. And, therefore do not expect any shares. Just trying to understand the details. You have been very helpful. Thanks.
Here is the 8K:
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=5884528
I do not believe that the deletion of Tripath shares consitutes a cancellation of the shares as they talk about conversion of the Etelos - WA shares into the Tripath shares 3 to 1. Tripath is the surviving entity which changed it's name to Etelos Inc. Sounds like the Tripath shares are being cancelled and new equivalent shares of Etelos Inc issued 1 for 1. So the existing TRPH stockholders will get new Etelos Shares. Where am I wrong?
What is the update?
So far Proton Labs is a real company. They will be back after lunch at 4 pm Eastern as they are in California. I will be talking with highest live body I can find.
I will say that their website is badly out out date.
Just talked with the Transfer Agent. A guy by the name of Whitney Lund. I got hold of him after calling the company and getting an answering machine (firewall?!). Left a message for them to get back to me.
Anyway, he volunteered the following information: The are in the process of updating the NV filing to get Rodreguez listed as President as Attorney Morey is no longer involved (???)
Which is it? "unsuspecting investors?" or MM's? Are there any "Unsuspecting MM's out there? Not trying to be funny, just trying to understand what has happened.
I am confused. 800 mil shares were purchased by whom?????????
MM's???? I didn't buy any 9 mil blocks that were flying out the door?!
What is the reason for the big spread? Don't want anyone buying because they know there is run coming and they can sell shares at a much higher price?
Ask is still at .0006
Bid is still at .0004 and Ask is at .0006
This is a sell off. LII anyone?
I am not up on the vernacular. Plain english please.
Just revised my previous post to ask the same question as you!
And who at the company "confirmed" that the Global deal was still on?
I went back to the posts at 9:30 on the 22nd and low and behold everybody saw the news. Now the question is this company still acquiring Global and other multi nationals??? Looks like the CEO has run with the money. Undisclosed interest in Water Science???? And dumped all the shares. WOW. Where am I wrong?
Anybody see or read this?::::
Axion Spatial Imaging Focuses on One Acquisition
LAS VEGAS, Apr 22, 2008 (BUSINESS WIRE) -- Axion Spatial Imaging (Pink Sheets:ASII) announced today after much deliberation Axion Spatial Imaging, Inc. has terminated all Letter of Intent (LOI) relationships and will focus on health oriented opportunities such as the recent investment in Water Science, Inc.
Effective 4/18/2008, Axion has purchased an undisclosed interest in Water Science, Inc, a California private company. Water Science retains a patented Hydration Technology pertaining to clustered water technology processing. This hexagonal clustered water delivers water straight to the body's cells much faster and more efficiently than any other beverage. This ultimate delivery system includes free radical neutralization, supplies oxygen, and CoQ-10 to the body among other nourishing contributions.
Axion shall continue to watch Water Science, Inc. grow and has further rights to acquire additional stock in the company in the future. Axion will continue to explore other companies in the Health field as the markets develops.
THIS WAS UNDER THE NEWS TAB AT PINK SHEETS!!
Coming in at 10:22
Why it still trading if the merger is complete??
TRPH Reverse merger announced this AM. Ran away premarket. Unbelievable. UP 700% Over 1400% now.
Fisher Transform crossover today to the up side!!
This looks like a normal 9:40 to 10:30 drop before rise.
interpret that for me.
GSHN is on the move.
GSHN I picked up some also.
I don't see any 4 block sells since the massive $2.00 sells.