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Apogee Silver Ltd. Announces C$20,000,000 Bought Deal Private Placement
TORONTO, ONTARIO, Apr 6, 2011 (Marketwire via COMTEX News Network) --
NOT FOR ISSUE IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Apogee Silver Ltd. (TSX VENTURE:APE) ("Apogee" or "the Company"), is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc., together with Fraser Mackenzie Limited as co-lead underwriter and including Desjardins Securities Inc., Jennings Capital Inc., Union Securities Limited and Pope & Company Limited (the "Underwriters"), to purchase 71,500,000 common shares of the Company (the "Common Shares") at a price of $0.28 per Common Share for gross proceeds of $20,020,000 on a bought deal private placement basis (the "Offering"). The Underwriters will have the option to acquire up to an additional 17,900,000 Shares at the price of $0.28 per Share at any time until 30 days following the closing of the Offering to cover over-allotments, if any, for total gross proceeds to the Company of up to $25,032,000.
The net proceeds from the Offering will be used to fund exploration activities at the 100% owned Pulacayo deposit in the Potosi region of southwest Bolivia as well as to advance the Pulacayo project towards production and for general corporate purposes.
Closing of the Offering is anticipated to occur on or about April 28, 2011 (the "Closing Date") and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The Common Shares will be subject to a statutory hold period of four months and one day following the Closing Date.
About Apogee Silver Ltd.
Apogee is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced silver-zinc-lead projects in South America that demonstrate potential to be developed to production. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile.
Its most advanced project is the 100% owned Pulacayo-Paca project in Bolivia, This project includes the property that covered the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production.
Forward-Looking Information
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms and use of proceeds of the Offering, the ability of the Company to complete the Offering and the impact of the Offering on the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
Avion Announces Production in Q1-20,270 Ounces
TORONTO, ONTARIO, Apr 06, 2011 (MARKETWIRE via COMTEX News Network) --
Avion Gold Corporation (TSX: AVR)(OTCQX: AVGCF) ("Avion" or the 'Company') is pleased to announce first quarter of 2011 production of approximately 20,272 ounces of gold from its Tabakoto/Segala operations in Mali, West Africa. This is less than Avion's recent first quarter guidance of 21,000 ounces due to a lubrication problem in the ball mill gearbox that developed on March 27. Management believes that its quarterly guidance would have been met or exceeded had the gearbox problem not developed.
It took seven days to repair the gearbox. Avion is confident that the gearbox will operate normally in the future, and has implemented procedures to avoid a recurrence of this issue.
During the first quarter of 2011, the Company milled 180,800 tonnes of ore at an average grade of 3.64 g/t Au, with a 96.2% mill recovery.
Commenting on the first quarter 2011 production numbers, Avion's Chief Operating Officer, Mr. Andrew Bradfield, stated: "The guidance of 100,000 ounces of gold for 2011 has not changed. Management is confident that Avion will be able to make up the slight shortfall experienced in the first quarter. Underground development in Tabakoto ore is ahead of plan and ore from the Dioulafoundou open pit is reconciling well with the geologic model now that we have mined past the area affected by artisanal mining."
Preparations are continuing to start underground development of the Segala deposit in the second quarter of 2011. As well, Avion is working on its National Instrument 43-101 reserve technical report, scheduled for issue in the second quarter. The Company also continues on plan and budget for its plant expansion project to increase processing capacity from 2,000 tonnes per day to 4,000 tonnes per day. A civil works contractor from Burkina Faso is currently mobilizing to site in preparation for the expansion construction.
Apogee Intersects 2.0 Meters Grading 3,163.00 g/t Silver and 4.40 Meters Grading 584.47 g/t Silver at the Pulacayo Deposit
TORONTO, ONTARIO, Apr 05, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE) reports assay results from eight additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia (See Table 1 below). All of the reported holes were drilled from surface.
The highlights from these holes include:
-- DDH PUD 170 intersected 2.0 meters grading 3,163.00 g/t silver, 0.07%
lead, 0.93% zinc, and a second zone adjacent to the "Veta Tajo" zone which
intersected 4.0 meters grading 212.0 g/t silver, 2.11% lead, and 2.19% zinc.
-- DDH PUD 173 intersected 4.40 meters grading 584.47 g/t silver, 0.88% lead
and 3.88% zinc in a zone adjacent to the "Veta Tajo"
-- PUD 176 intersected 5.10 meters grading 109.47 g/t silver, 0.02% lead and
0.34% zinc in the "Veta Tajo" zone and a second adjacent zone which
intersected 7.0 meters grading 226.29 g/t silver, 0.39% lead and 0.83% lead.
The holes were drilled to continue delineation of the deposit along strike east of the previously released National Instrument 43-101 ("NI 43-101") resource. Diamond drilling, undertaken in 2010, has successfully extended the deposit an additional 350 meters east of the current resources (See Press Releases dated January 15th 2010, March 15th 2010, April 19th 2010, July 13th 2010, August 9th 2010, September 20th 2010, January 18th 2011, February 24th 2011 and the NI 43-101 technical report dated December 2008 and filed under the SEDAR profile of the Company at www.sedar.com). The Company has now completed a total of 41 drill holes in the area east of the previously released NI 43-101 resource (See Figure 2 and 3 below).
Chris Collins, P. Geo., President of Apogee, states, "We remain very encouraged by the latest results from the ongoing drilling program at Pulacayo. We continue to encounter excellent silver grades over significant widths. Our near term focus will be on completing the delineation drilling in the area east of the current resources to a sufficient level of detail to support a revised NI 43-101 resource estimate. Three drills are currently working in this area. In addition a fourth diamond drill rig has been contracted and will be mobilized to the property in early April. The fourth drill rig, an LM 90, is capable of testing the deposit where it remains open at greater depth and open along strike to the west. We expect this fourth drill to start drilling in the area along strike west of the deposit by mid April."
Table 1: Summary of Significant Intercepts
----------------------------------------------------------------------------
----------------------------------------------------------------------------
UTM UTM Core
Hole E N From To Length Ag Pb Zn
No. (m) (m) Az. Dip (m) (m) (M)(i) g/t % %
----------------------------------------------------------------------------
022 -48
PUD-168 740884 7744316 degrees degrees 117.0 132.0 15.0 32.93 0.43 1.09
----------------------------------------------------------------------------
251.0 261.0 10.0 3.60 0.18 0.62
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -38
PUD-170 740884 7744316 degrees degrees 100.0 104.0 4.0 212.0 2.11 2.19
----------------------------------------------------------------------------
237.0 239.0 2.0 3163.0 0.07 0.93
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -43
PUD-171 741137 7744149 degrees degrees 136.0 138.80 2.8 70.34 0.39 0.01
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -48
PUD-172 741061 7744227 degrees degrees 134.0 145.0 11.0 23.46 0.34 0.11
----------------------------------------------------------------------------
Incl. 142.0 145.0 3.0 58.67 0.08 0.01
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -43
PUD-173 740861 7744262 degrees degrees 232.0 236.4 4.4 584.47 0.87 3.88
----------------------------------------------------------------------------
Incl. 234.0 235.0 1.0 1400.0 1.09 8.48
----------------------------------------------------------------------------
338.0 339.4 1.4 1.00 0.11 0.75
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -40
PUD-174 741099 7744190 degrees degrees 164.42 165.0 0.58 114.0 0.57 0.03
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -35
PUD-175 740013 7742241 degrees degrees 121.0 131.0 10.0 47.6 0.06 0.01
----------------------------------------------------------------------------
Incl. 129.0 130.0 1.0 109.0 0.10 0.002
----------------------------------------------------------------------------
----------------------------------------------------------------------------
022 -45
PUD-176 740914 7744261 degrees degrees 182.0 183.8 1.8 120.0 0.22 1.40
----------------------------------------------------------------------------
232.0 239.0 7.0 226.29 0.39 0.83
----------------------------------------------------------------------------
269.0 270.0 1.0 359.0 1.49 21.10
----------------------------------------------------------------------------
294.0 299.1 5.10 109.47 0.02 0.34
----------------------------------------------------------------------------
Incl. 298.0 299.1 1.10 243.0 0.06 1.43
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(i) True widths of the intersections are estimated to be approximately
between 70% and 85% of the core lengths provided in the table above.
The Pulacayo Deposit is a thick east-west striking zone of conjugate veins, stockwork and disseminated sulphides that locally are up to 200 meters thick with a higher grade core that comprises the resource and may locally exceed 60 meters in thickness. The known strike length of the Tajo Vein System which hosts the Pulacayo deposit is close to 3 kilometers and it remains open at both ends along strike (Figure 2). Mineralization comprises sphalerite, galena and tetrahedrite in sulphide-rich veins ranging from a few centimeters to greater than one meter thick and heavily disseminated sphalerite, galena and tetrahedrite between the veins.
Quality Control
The Company employs a quality assurance/quality control protocol on all aspects of the diamond drilling, sampling and analytical procedures. The Quality Control and all aspects of the exploration program are supervised by Apogee's Exploration Manager Mr. Hernan Uribe, who holds a Masters of Applied Science in Mineral Exploration from the Imperial College of Science And Technology, Royal School of Mines, London England. The scientific and technical information presented in the press release has been reviewed and approved by Chris Collins P. Geo. President of Apogee and a qualified person, as defined by NI 43-101.
For detailed project information please refer to Apogee's web site at www.apogeeminerals.com.
About Apogee Silver Ltd
Apogee Silver Ltd. is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced silver-zinc-lead projects in South America that demonstrate potential to be developed to production. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile.
Its most advanced project is the 100% owned Pulacayo-Paca project in Bolivia. This project includes the property that covered the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production.
WILDCAT DRILL RESULTS INCLUDE 37 METRES OF 407 GRAMS PER TONNE SILVER, 14.6% MANGANESE, 2.01% ZINC AND 2.30% LEAD
VANCOUVER, April 4 /CNW/ - Wildcat Silver Corporation (TSX-V: WS) ("Wildcat" or "the Company") is pleased to announce the results of four additional drill holes completed on the Company's flagship Hermosa property located in Santa Cruz County, Arizona.
Of the four holes reported, three holes were step-out holes (Hole HDS-114, HDS-115 and HDS-116). A total of 23 holes have been drilled in the current program for a total of 6,250 metres, of which 11 holes (eight step-out holes) have been reported to date.
A complete list of drill intercepts, location map and 3D model of the Hermosa mineralization are now available on the company's website at www.wildcatsilver.com.
Step-out Holes
Drill holes HDS-114,115 and 116 continue to test the eastern and southeastern portions of the Hermosa resource area, demonstrating high grades of silver and manganese. Significant assays encountered in these drill holes support the extension of mineralization beyond the current resource and provide important geologic information in a previously untested area where recognized faulting exists.
Infill Hole
HDS-112 is located near the western edge of the current Hermosa resource. The significant silver and manganese mineralization encountered in this hole confirms continuity with previous drilling north and south of HDS-112 and indicates the resource remains robust and open to the northwest. Future drilling will target the connection to the mineralization intersected in the previously reported hole HDS-113 (results reported March 24, 2011) and to the west and northwest. Of note, HDS-112 intersected 36.6 metres of 406.5 g/t silver, 14.55% manganese, 2.01% zinc, 2.30% lead and 0.15% copper.
The Company will continue to aggressively drill as mineralization remains open in all directions. Exploration efforts will primarily focus on step-out drilling with the objective of significantly expanding the current resource. Wildcat now has four drills operating on the property (two core and two reverse circulation).
To view a map of Wildcat Silver Inc. - Hermosa Project Santa Cruz, Arizona USA please visit: http://files.newswire.ca/918/Hermosa_Map.pdf
Allana Potash Announces a Strategic Investment by International Finance Corporation
TORONTO, ONTARIO, Mar 24, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or the "Company"), is pleased to announce a non-brokered private placement with International Finance Corporation, a member of the World Bank Group ("IFC") for 6,250,000 units (the "Units") at a price of $1.60 per Unit for gross proceeds of CAD$10 million. Each Unit shall consist of one common share in the capital of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable for $2.08 for a period of three years from the date of the issue.
Farhad Abasov, President and CEO, commented: "I am very pleased to welcome IFC as a proposed strategic investor in Allana. This investment will be a strong testament to the merits of our potash project in Ethiopia. IFC is one of the largest multilateral financing organizations contributing to the development of key mining, infrastructure and industrial projects worldwide by investing $18 billion in fiscal 2010 alone. This is an important development not only for Allana but also for Ethiopia. Our Board and Senior Management Team have carefully evaluated the merits of an investment of this nature at this stage in Allana's growth and have unanimously decided that the support that IFC can provide to us in Ethiopia is significant. In addition, we believe that developing a strong relationship with IFC places Allana in a very solid position to secure possible future debt financing from IFC and other international organizations for the construction of a potash mine in Ethiopia."
IFC has done a thorough due diligence on Allana's potash project. As part of their due diligence process, IFC has completed a site visit and conducted technical, environmental, social, financial and market analyses. As part of IFC's proposed investment, Allana will be required to meet IFC's environmental, social and safety standards in the ongoing and future development of its project. Allana and IFC personnel have already begun to evaluate Allana's current programs to ensure that Allana has appropriate environmental and social management systems in place and that the Dallol potash projects will benefit local communities as well as Ethiopia in general. In connection with the Offering, IFC shall have certain rights, including without limitation, information, policy and pre-emptive rights.
The Company plans to use the net proceeds from the Offering to fund a drilling program and feasibility study for the Company's main asset, its Ethiopian potash property in the Danakhil evaporate basin, and for general corporate purposes.
Closing of the offering is anticipated to occur on or about May 1, 2011 (the "Closing Date") and is subject to the receipt of all required approvals, including without limitation approval of IFC's board of directors and the receipt of all applicable regulatory approvals, including approval of the TSX Venture Exchange. The Common Shares and the Common Shares issuable upon the exercise of the Warrants will be subject to a statutory hold period for four months and one day following the Closing Date.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. IFC creates opportunity for people to escape poverty and improve their lives. IFC does so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, IFC's new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org.
WILDCAT DRILL RESULTS INCLUDE 100 METRES OF 153 GRAMS PER TONNE SILVER, 13.8% MANGANESE, 4.25% ZINC, 3.72% LEAD AND 0.19% COPPER
VANCOUVER, Mar 24, 2011 (PR Newswire Europe via COMTEX News Network) --
VANCOUVER, March 24 /PRNewswire/ - Wildcat Silver Corporation ("Wildcat" or "the Company") is pleased to announce the results of four additional drill holes completed on the Company's flagship Hermosa property (formerly the Hardshell project)* located in Santa Cruz County, Arizona.
"These results continue to support our view that there is considerable potential to expand the resource," Wildcat's President and CEO, Chris Jones said. "Further, in addition to the high grade silver we have encountered, we have also intersected significant intervals of by-product metals."
Of the four holes reported, three holes were step-out holes (Hole HDS-113, HDS-121 and HDS-123). A total of 23 holes have been drilled in the current program for a total of 6,250 metres, of which seven holes (five step-out holes) have been reported to date.
Step-out Holes
Hole HDS-113 is located on the northwest corner of the currently defined Hermosa resource. It represents one of the thickest intervals drilled to date and has encountered significant intervals of silver and manganese mineralization from 20.4 metres below the surface to 236.9 metres. Significant intersections include:
-- An upper zone 39 metres at depth which intersected 18.4 metres
of 69.4 g/t silver, 0.78% manganese, 0.30% zinc, 0.51% lead and
0.03% copper. This forms a near surface blanket of
mineralization that has not been quantified in the current
resource estimate and provides further potential to
significantly add to the resource.
-- A manganese oxide zone in the manto which intersected100.3
metres of 153.4 g/t silver, 13.79% manganese, 4.25% zinc, 3.72%
lead and 0.19% copper.
Hole HDS-123 is located northeast of the current Hermosa resource. This drill hole contains two well-defined intervals including 57.9 metres of 61.2 g/t silver, 16.29% manganese, 4.16% zinc, 2.59% lead and 0.10% copper.
Hole HDS-121 is located on the eastern edge of the Hermosa resource. This drill hole contains two well mineralized intervals including an interval of 13.7 metres of 332.9 g/t silver, 7.43% manganese, 0.31% zinc, 4.35% lead and 0.14% copper and an interval of 16.8 metres of 114.9 g/t silver, 1.72% manganese, 0.95% zinc, 0.87% lead and 0.05% copper.
Infill Hole
Hole HDS-120 is located at the extreme south end of the Hermosa resource. This drill hole encountered four zones of significant silver and/or manganese mineralization, including an upper zone that intersected 27.4 metres from the surface of 55.3 g/t silver.
A summary of the drill results are provided below:
______________________________________________________________________
| | | From | To |Interval| Cu | Pb | Zn | Mn | Ag |
| Holes | |(metres)|(metres)|(metres)| % | % | % | % | g/t |
|_______|________|________|________|________|____|____|____|_____|_____|
|HDS-113| | 20.4 | 38.9 | 18.4 |0.03|0.51|0.30|0.78 |69.4 |
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 22.0 | 27.9 | 5.9 |0.05|0.88|0.28|1.47 |108.8|
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 341 | 37.2 | 3.0 |0.04|0.77|1.00|1.39 |113.0|
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 41.8 | 49.1 | 7.3 |0.03|0.19|1.04|1.92 |23.4 |
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 126.4 | 143.9 | 17.5 |0.03|1.40|0.04|0.75 |40.5 |
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 148.2 | 248.5 | 100.3 |0.19|3.72|4.25|13.79|153.4|
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 149.4 | 157.3 | 7.9 |0.14|4.94|3.27|12.13|182.5|
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 163.1 | 181.6 | 18.4 |0.13|2.78|2.54|15.14|209.2|
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 186.1 | 197.3 | 11.1 |0.19|3.78|0.94|7.81 |303.9|
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 216.5 | 236.9 | 20.4 |0.30|4.85|7.88|14.58|135.4|
|_______|________|________|________|________|____|____|____|_____|_____|
|HDS-120| | 0.0 | 27.4 | 27.4 |0.0 |0.2 |0.0 | 0.0 |55.3 |
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 13.7 | 18.3 | 4.6 |0.01|0.29|0.01|0.04 |138.1|
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 71.6 | 93.0 | 21.3 |0.01|0.13|0.01|0.32 |26.9 |
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 128.0 | 140.2 | 12.2 |0.04|0.29|0.39|12.95|89.2 |
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 146.3 | 154.0 | 7.6 |0.01|0.05|0.80|7.81 |20.2 |
|_______|________|________|________|________|____|____|____|_____|_____|
|HDS-121| | 182.9 | 196.6 | 13.7 |0.14|4.35|0.31|7.43 |332.9|
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 205.8 | 222.6 | 16.8 |0.05|0.87|0.95|1.72 |114.9|
|_______|________|________|________|________|____|____|____|_____|_____|
|HDS-123| | 57.9 | 65.5 | 7.6 |0.03|0.07|0.01|0.02 |26.4 |
|_______|________|________|________|________|____|____|____|_____|_____|
| and | | 178.4 | 236.3 | 57.9 |0.10|2.59|4.16|16.29|61.2 |
|_______|________|________|________|________|____|____|____|_____|_____|
| |includes| 182.9 | 190.5 | 7.6 |0.19|3.64|0.56|14.08|137.1|
|_______|________|________|________|________|____|____|____|_____|_____|
A complete listing of drill intercepts, location map and additional details on the cross sections will be available on the Company's website at www.wildcatsilver.com on March 31, 2011.
The Company intends to continue to aggressively drill to the end of the year as mineralization remains open in all directions. Exploration efforts will primarily focus on step-out drilling with the objective of significantly expanding the current resource. Wildcat now has four drills operating on the property (two core and two reverse circulation).
* Wildcat's silver project, formerly the Hardshell project, has been renamed the "Hermosa project". The new name reflects the increased size and scope of the project since it was acquired and the Company believes the new name more appropriately reflects the district rather than the originally named historic mine.
Qualified Person The results of Wildcat's drilling results have been reviewed, verified and compiled by Don Taylor, MSc., PG, vice president of exploration for Wildcat Silver, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a Licensed Professional Geologist in several US states.
Assays and Quality Assurance/Quality Control To ensure reliable sample results, Wildcat has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at Skyline Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. Skyline Laboratories prepares two pulps of all samples and completes analysis of one pulp sample by ICP for Cu% (copper), Pb% (lead), Zn% (zinc) and Mn% (manganese). The second pulp is shipped to Inspectorate Labs, an ISO: 9001-2008 accredited laboratory in Reno, Nevada, where the duplicate pulp is analyzed for Au (gold) and Ag (silver). Silver values are determined by fire assay (1 AT) with an AA finish. For all samples that assay greater than 200 ppm Ag, the sample is re-run using fire assay (1 AT) with a gravimetric finish. In certain holes Skyline also completes analysis of the pulps for Au (FA/AAS) and Ag by (Aqua Regia digestion and AA finish). If over 150 g/t, all Silver assays are redone using FA/Grav finish at 1AT.
About Wildcat Wildcat Silver is a Canadian mineral exploration company focused on development of Hermosa, its 80% owned silver project located in Santa Cruz County, Arizona. The project currently has an indicated mineral resource of 6.0 million tonnes averaging 187.8 grams per tonne silver for a total of 36 million ounces of silver in addition to an inferred mineral resource of 46.3 million tonnes averaging 58.6 grams per tonne silver for a total of 85 million ounces of silver. The Company has completed an updated preliminary economic assessment which contemplates an 18 year mine life with expected annual production in excess of 6 million ounces of silver for the first full six years of production.
Wildcat trades on the TSX Venture Exchange under the symbol WS.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Wildcat's latest annual report and management discussion and analysis. Wildcat assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: For additional information please visit www.wildcatsilver.com orcontact:Letitia Cornacchia, Vice President, Investor Relations and CorporateCommunicationsTelephone: +1 416 860 6310Email: lcornacchia@wildcatsilver.com
Copyright (C) 2011 PR Newswire Europe
Ucore Releases NI 43-101 Compliant Resource for Bokan
HALIFAX, NOVA SCOTIA, Mar 7, 2011 (Marketwire via COMTEX News Network) --
Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce the first NI 43-101 compliant independent resource estimate for the Company's 100% owned Bokan Mountain rare earth element (REE) project in southeastern Alaska. The resource estimate was prepared by Aurora Geosciences Ltd. ("Aurora") of Yellowknife, NWT who recommend that the deposit merits additional drilling, metallurgical research and economic investigation.
"This is a pivotal advancement for Ucore," said Jim McKenzie, President and CEO of Ucore. "It marks our transition from a junior exploration company to a fast track mine development enterprise. Ucore is now positioned as the 100% owner of America's only primarily heavy rare earth enriched deposit with an NI 43-101 compliant resource. A large percentage of Bokan's value lies in its unusually high content of metals that are strategically essential to America. These include heavy rare earths such as Dysprosium and Terbium; critical materials that the U.S. requires to compete at a world level, especially in the defense, ultra high technology and clean energy arenas. They are also materials that China is aggressively withdrawing from availability to the U.S., and have been earmarked as critically threatened by federal agencies. We're looking forward to working with national and state level stakeholders to bring this project to term in the shortest time possible."
Mineral resources were modeled by Aurora and reported at seven different total rare earth oxide (TREO) cut-off grades, with a base-case resource estimated using a TREO cut-off of 0.5%. At this cut-off, Bokan hosts an Inferred Mineral Resource of 3.7 million tonnes grading 0.75% TREO, with 39% of the TREO being the higher value HREO (heavy rare earth oxides).
Allana Potash Intersects Highest Grade Potash to Date With 44.5 % KCl Over One Metre at Shallow Depth
TORONTO, ONTARIO, Mar 07, 2011 (MARKETWIRE via COMTEX News Network) --
Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-11-11 intersected significant potash mineralization including one metre of 44.5% KCl. Hole 11 is located at the southwestern portion of the Allana land package and indicates the extension of significant potash mineralization into this largely unexplored region. Hole DK-11-11 intersected two robust potash zones highlighted by 33.8 % KCl over 3.4 metres, including 44.5% KCl over one metre, and 22.0% KCl over 3.8 metres in the second zone. Both zones were intersected at shallow depths with potash mineralization beginning at approximately 115 metres below surface.
Farhad Abasov, President and CEO, commented: "We are very pleased with the drill results from Hole 11. This hole was collared in a previously unexplored part of the property and designed to test the extension of the potash mineralization south from Musley and west from Hole DK-10-06. The results support the extension of the potash horizons an additional four kilometres south from Hole 8 and 2.5 km southwest from Hole 6 and management believes that this extension could add significantly to the project's resource potential. Particularly encouraging is the high grade zone, the highest grade yet published in the Dallol region, of 44.5 % KCl over one metre within a robust zone of sylvinite some 3.4 metres thick. In addition, results from Hole 11 indicate that the potash horizon is shallowing in this southwestern sector which management believes bodes well for our open pit evaluations."
Ucore Rare drills 0.1 m of 1.6% TREO at Bokan Mountain
2011-03-04 13:22 ET - NewsRelease
Mr. Jim McKenzie reports
UCORE UPDATES DRILL RESULTS
Ucore Rare Metals Inc. is pleased to announce remaining preresource drillresults from the 2010 drill program at its Bokan Mountain project in southeastAlaska.
The 2010 drill program produced a total of 3,770 metres of core from 18diamond drill holes. Thirteen of these holes were drilled in the Dotson Zone toextend the limits of known information and to provide adequate sampling tosupport the calculation of a National Instrument 43-101 compliant resource, tobe released within the next two weeks. Hole LM10-82 was drilled in the centre ofthe Dotson Zone to test the mineralization at depth and between drill sections.Holes LM10-83 to LM10-86 were drilled at the west end of the deposit on twosection lines. Mineralization intersected in these holes is offset slightly tothe north by a local fault and is similar in style and grade with mineralizationintersected in trenches along the zone (see Ucore press releases dated November30, 2010 and December 22, 2010).
Additionally, three holes were drilled at Sunday Lake to test for anextension of the high grade near surface mineralization at depth, and two holeswere drilled on the Geoduck Zone to test the extension of that vein system. AtSunday Lake, holes were drilled from west to east across the intrusive contactbeneath the Sunday Lake showing, with all drill holes intersectingmineralization at or near the contact between metasediments and the BokanGranite. This mineralization was similar in style but lower in tenor to thatintersected at shallower depths beneath Sunday Lake. At the Geoduck Zone, holeLM10-90 was drilled across the inferred extension of the zone, and Hole LM10-91was drilled to the northeast of the zone, with the latter hole intersectingmultiple mineralized zones which appear to be the northern extension of theGeoduck Zone in this area.
A map showing the location of the drill holes from the Dotson Zone reportedin this press release is located at the following web link:http://www.ucoreraremetals.com/bokan.asp. The following table summarizessignificant intersected values for Holes LM-10-82 to LM-10-91 inclusive:
HREO/
Depth Width LREO HREO TREO TREO
Hole Zone From (m) To (m) (m) (wt.%) (wt.%) (wt.%) (%)
LM10-82 Dotson 132.18 133.50 1.32 0.74 0.18 0.91 19.4
134.68 136.30 1.62 0.33 0.08 0.41 20.1
142.78 144.71 1.93 0.58 0.13 0.71 18.2
152.39 154.12 1.73 0.28 0.28 0.56 50.4
204.03 207.67 3.64 0.46 0.33 0.79 41.7
LM10-83 Dotson 175.86 176.17 0.31 0.69 0.19 0.88 21.2
188.48 188.69 0.21 0.74 0.10 0.84 11.4
204.80 205.05 0.25 0.33 0.20 0.53 37.5
LM10-84 Dotson 28.00 28.10 0.10 0.73 0.93 1.65 56.0
159.69 159.88 0.19 0.36 0.30 0.66 43.0
172.26 172.50 0.24 0.39 0.46 0.85 54.1
212.85 213.29 0.44 0.56 0.22 0.78 28.2
LM10-85 Dotson 43.54 43.71 0.17 0.32 0.28 0.60 46.2
69.58 69.72 0.14 0.19 0.41 0.59 69.0
79.95 80.10 0.15 0.33 0.27 0.60 45.2
83.14 83.27 0.13 0.30 0.57 0.87 65.7
LM10-86 Dotson 68.67 68.92 0.25 0.31 0.34 0.65 52.5
79.09 79.18 0.09 0.41 0.73 1.14 64.4
LM10-91 Geoduck 45.25 45.53 0.28 0.31 0.09 0.40 21.0
88.14 88.45 0.31 1.01 0.16 1.17 13.6
-- Holes LM10-87 to LM10-90 located at Sunday Lake and Geoduck returned no
significant mineralization above 0.6% TREO.
-- LREO = Light rare earth elements: La, Ce, Pr, Nd, and Sm as oxide
-- HREO = Heavy rare earth elements: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu,
and Y as oxide
-- TREO = Total rare earth oxides: LREO + HREO
-- % HREO = HREO as percent of TREO (HREO/TREO)
-- Totals may not equal due to rounding
-- Major contributing rare earth oxides to LREO and TREO: La2O3, Ce2O3,
Nd2O3
UCU.V Ucore HREE and U3O8 on the move today eom
Great Western Minerals Group Completes Rareco Purchase
SASKATOON, SASKATCHEWAN, Mar 02, 2011 (MARKETWIRE via COMTEX News Network) --
Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF) announces that it has completed the purchase of 92.6% of the shares (the "Rareco Shares") of Rare Earth Extraction Co. Limited ("Rareco").
As of the conclusion of the offer period for Rareco shares on February 28, 2011, GWMG received and paid for 44,218,009 of the 47,764,700 Rareco shares outstanding.
Jim Engdahl, President and Chief Executive Officer of GWMG said, "Holding in excess of 90% of the outstanding shares of Rareco is highly important because it enables GWMG to acquire the remaining shares and achieve 100% ownership. We will take the required steps immediately."
As previously announced (see GWMG Media Release of December 21, 2010: "Great Western Minerals Group Delivers Offer Circular To Rareco Shareholders"), GWMG made an all-cash offer for all remaining ordinary shares in Rareco that GWMG did not already own.
"Today's announcement that GWMG now owns such a strong controlling interest in Rareco is a crucial step forward in becoming a fully integrated, global Rare Earth producer," said GWMG President and Chief Executive Officer Jim Engdahl. "With this level of ownership certainty in place, GWMG is positioned to continue with the execution of its plan to bring the formerly producing Steenkampskraal mine back into production."
CMA.V Cream minerals breaking out eom
BULM Lebed = pump and dump, be careful ... eom
Great Western Minerals Group in Advanced Discussions on Rare Earth Separation Plant
SASKATOON, SASKATCHEWAN, Feb 24, 2011 (MARKETWIRE via COMTEX News Network) --
Great Western Minerals Group Ltd. ("GWMG" or the "Company", (TSX VENTURE: GWG) (OTCQX: GWMGF) announces that it is holding advanced discussions with several companies with the intent of engaging a partner in the construction of a Rare Earths separation plant in South Africa.
The separation plant, which would process the mixed rare earth chloride, that is planned to be produced at the Steenkampskraal site, into separated Rare Earth oxides, is a core component of GWMG's plans to be a fully integrated Rare Earths producer.
GWMG is evaluating several alternatives. Under each alternative, the Company would also be acquiring separation expertise.
One alternative is an off-take agreement under which the partner would have access to Rare Earths oxides that are in excess of those required for GWMG's wholly owned alloy processing facilities, Less Common Metals in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, U.S.
A second alternative, which is not exclusive of the first, is the potential for equity investment in the separation plant by a project partner.
The third alternative being considered by GWMG is the use of debt instruments for financing the separation plant.
GWMG President and Chief Executive Officer Jim Engdahl said, "GWMG management remains confident about the long term pricing strength of the Rare Earths market. The management of GWMG is also of the opinion that being a fully integrated producer will magnify the value of each tonne of Rare Earths mined. With GWMG having its own planned mining and separation production, our Company can create the maximum degree of supply certainty to our valued customers in Asia, Europe and the United States."
Jim Engdahl, President and CEO
Apogee Intersects 8.0 Meters Grading 413.25 g/t Silver 300 Meters East of Previous Drilling at Pulacayo Deposit
TORONTO, ONTARIO, Feb 24, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE) reports assay results from seven additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia. (See Table 1 below). All of the reported holes were drilled from surface.
The highlights from these holes include:
-- DDH PUD 162 intersected 2.64 meters grading 144.11 g/t Ag, 0.01% Pb,
0.07% Zn
-- DDH PUD 163 intersected 8.84 meters grading 235.24 g/t silver, 0.13%
lead and 0.86% zinc within an 18.0 meter interval grading 117.48 g/t
silver, 0.10% lead and 0.67% zinc.
-- DDH PUD 169 intersected 8.00 meters grading 413.25 g/t silver, 0.20%
lead and 0.01 % zinc within a 12.0 meter interval grading 301.75 g/t
silver, 0.17% lead and 0.01% zinc.
The holes were drilled to continue delineation of the deposit along strike east of the previously released National Instrument 43-101 ("NI 43-101") resource. Diamond drilling, undertaken in 2010, successfully extended the deposit an additional 350 meters east of the current resources. (See Press Releases dated January 15th 2010, March 15th 2010, April 19th 2010, July 13th 2010, August 9th 2010, September 20th 2010, January 18th 2011 and the NI 43-101 technical report dated December 2008 and filed under the SEDAR profile of the Company at www.sedar.com). The Company has now completed a total of thirty-three drill holes in the area east of the previously released NI 43-101 resource (See Figure 2 and 3 below).
Chris Collins, P. Geo., President of Apogee states, "We are very encouraged by the latest results from the ongoing drilling program at Pulacayo. In particular with DDH PUD 169 which was a very aggressive step-out, approximately 300 meters along strike east of our previous drilling and we were rewarded with a high grade silver intercept. Our focus in the near term will now be to in-fill in the area between PUD 169 and the drilling completed throughout 2010 (See figure 2 and 3 below). We have a third drill rig scheduled to commence in early March which will accelerate this process."
To view Table 1: Summary of Significant Intercepts, please visit the following link: http://media3.marketwire.com/docs/ape0224tab1.pdf.
The Pulacayo Deposit is a thick east-west striking zone of conjugate veins, stockwork and disseminated sulphides that locally are up to 200 meters thick with a higher grade core that comprises the resource and may locally exceed 60 meters in thickness. The known strike length of the Tajo Vein System which hosts the Pulacayo deposit is close to 3 kilometers and it remains open at both ends along strike (Figure 2). Mineralization comprises sphalerite, galena and tetrahedrite in sulphide-rich veins ranging from a few centimeters to greater than one meter thick and heavily disseminated sphalerite, galena and tetrahedrite between the veins.
penny silvers APE.V, CMA.V eom
KCMP Shareholders Approve Deal Structure for Stans Energy Corp to Acquire 100% of KCMP's HREE Processing Complex
Toronto, ON February 18, 2011
FSC / Press Release
KCMP Shareholders Approve Deal Structure for Stans Energy Corp to Acquire 100% of KCMP's HREE Processing Complex
Toronto, Ontario CANADA, February 18, 2011 /FSC/ - Stans Energy Corp. (TSX - VX: RUU),
On February 18, 2011, the shareholders of the Kyrgyz Chemical Metallurgical Plant (KCMP) held their annual general meeting, and officially voted in favour of the deal structure to complete the previously announced transaction between KMCP and Stans Energy Corp (See Stans' press release January 13, 2011) for Stans to buy 100% KCMP's Heavy Rare Earth Processing Complex, and private Rail Terminal for $5,500,000 USD.
AVR.TO Avion gold, breaking out
insiders buying over 2M last 2 weeks
4Q out feb 23
re: FLX.V sold last yr, poor management,
too many projects, IMO
insider BUYS 400 K yesterday, sorry for format issues
Last Updated: February 14, 2011 Insider Trade Marker Report
Top 10 Stocks By Net Buys Volume
Symbol Company Name Insider Buys Volume Insider Sells volume Net Buys Volume
GWG Great Western Minerals Group Ltd. 412,000 0 412,000
LFD Longford Energy Inc. 350,000 0 350,000
NVT Nortec Minerals Corp. 253,500 0 253,500
FOX Fiber Optic Systems Technology, Inc 250,000 0 250,000
WPX Western Potash Corp. 217,000 0 217,000
ELN El Nino Ventures Inc. 145,000 0 145,000
SPP Spot Coffee (Canada) Ltd. 135,000 0 135,000
SSE Silver Spruce Resources Inc. 450,000 320,000 130,000
RA Rare Earth Metals Inc. 225,500 120,000 105,500
STH Stelmine Canada Ltd. 100,000 0 100,000
TORONTO, ONTARIO--(Marketwire - Feb. 14, 2011) - Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or the "Company") is pleased to announce that drill holes DK-10-09 and 010 both intersected significant zones of potash mineralization. Both holes are located east of the Musley Deposit and the results suggest strong continuity of potash mineralization throughout this area. Hole DK-10-10 intersected three robust potash intersections including 37.6 % KCl over 2.8 metres, within 12.4 metres of 23.7 % KCl, 21.3% KCl over 6.5 metres and 16.9% KCl over 19.4 metres. Hole DK-10-09 intersected strong potash mineralization which returned 28.0% KCl over 3.5 metres within a wider intersection of 7.1 metres of 22.8 % KCl.
Apogee Announces Appointment of Vice President of Operations and Calls for Tenders for Mining Contract at Pulacayo
TORONTO, ONTARIO, Feb 14, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE: APE) is pleased to announce the appointment of Mr. Oscar Calero as the Vice President of Operations of the Company effective February 15th, 2011. Mr. Calero brings extensive engineering experience in both mine operations and development projects with over 20 years of practice in both Peru and Canada. Most recently, Mr. Calero was the Superintendent of Projects and Productivity at Volcan Compania Minera, a publicly traded Peruvian mining company that produces zinc, lead, silver, and copper from six underground mining operations. Previously, Mr. Calero held the position of Manager of Underground Mine Planning and Projects, Peru, for Hochschild Mining PLC, and Mine Operations Manager for Century Mining's Sigma-Lemaque Operation in Val d'Or Quebec. Mr. Calero holds a Bachelor's Degree in Mine Engineering from the National Engineering University of Peru, and a Masters Degree in Business Administration from the ESAN Graduate School of Business in Peru.
In connection with his appointment, the Company shall grant Mr. Calero 100,000 stock options of the Company at an exercise to be determined in accordance with the closing price of the Company's common shares on the date immediately prior to his engagement with the Company. The options shall vest immediately and will expire within five years from the date of grant, in accordance with the terms of Apogee's stock option plan. The options shall remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
Apogee is also pleased to report that that it has invited several South American based mining contractors to submit detailed proposals for the provision of contract mining services at its 100% owned Pulacayo project during 2011. The Company is currently undertaking a comprehensive evaluation of the feasibility of initiating a pilot mining and toll milling program at the Pulacayo Deposit. The focus of the mining program would be on higher grade zones within the deposit, which may be readily accessible utilizing the historical mine development. A key part of this assessment is identifying and engaging a contract miner who would be responsible for the rehabilitation of the existing level development and haulage drifts, development of new access to planned stopes and the production of ore from these stopes. It is anticipated that a comprehensive pilot mining plan will be completed before the end March 2011 and a contract would be awarded shortly thereafter.
The toll milling development is viewed as the first stage in the development plan at Pulacayo. The Company will also commission a feasibility study for developing a stand-alone mill at the Pulacayo site which would support a higher production rate in future.
Chris Collins, P. Geo., the President of the Company, stated, "We are very pleased to have Oscar Calero join the Apogee team at this very exciting time in our development. His experience in underground operations and development projects combined with his leadership skills will be invaluable to us as we evaluate the opportunity to transition from exploration, to development and production at Pulacayo."
In addition to the pilot mining and toll milling initiative, Apogee is also maintaining an aggressive exploration program at the Pulacayo Deposit, with two diamond drills continuing to work on the property targeting extensions to the known mineralization along strike east of the current resources and a third drill being commissioned. (See Press Release dated January 10th 2011 and January 18th 2011). Additional results from the drilling program will be released as they become available.
For detailed project information please refer to Apogee's web site at www.apogeeminerals.com.
SGGV CEO was sanctioned in B.C.
Background research on Sterling Group Chairman and CEO Raoul Tsakok, reveals that the 60-year-old former mutual fund manager was sanctioned by Canadian regulators in 2006.
Prior to investing in any publicly traded company, it is always a good idea to check the background of people who are running the firm, said British Columbia Securities Commission spokesman Ken Gracey.
This advice was offered on February 7, a day when Sterling Group Ventures Inc. (OTC:BB: SGGV, Stock Forum) saw its share price jump by 40% to 36 cents for no apparent reason.
After tumbling to 30 cents on Wednesday, the Vancouver-based junior has a market cap of $11.4 million, based on 44 million shares outstanding. The stock trades in a 52-week range of 39 cents and 0.01 cent.
Saying it holds a 90% stake in a Chinese phosphate mine, Sterling Group is headed by 60-year-old Chairman and chief executive Raoul Tsakok.
He indirectly owns about 34% of the company, regulatory filings show.
A cursory glance through the BCSC’s disciplined person’s list indicates that in addition to working in investment management for over 30 years, Tsakok was sanctioned by the BCSC in 2006 for taking unnecessary risks with investors’ money.
In a June 2006 settlement agreement with the BCSC, Tsakok admitted that because of certain practices, outlined in the settlement, he and his company Sagit Investment Management Ltd. failed to manage the company’s 16 mutual funds with a degree of care, diligence and skill that a reasonable person would exercise in the circumstances.
Tsakok was fined $45,000 and banned for life in B.C. from acting as an advising or trading officer.
The ban was imposed after he admitted that between 1994 and 2003 he contravened securities rules by serving as an officer, director and principal shareholder of a company that traded on the TSX Venture Exchange at the same time he was registered as a mutual fund manager.
From 1994 to 2003, Tsakok was an officer, director and principal shareholder of TSX Venture Exchange-listed Richco Investors Inc.
A compliance review by BCSC staff in 2002 found that Sagit’s policies and procedures were incomplete, out of date, and otherwise inadequate in respect of the business of mutual fund management.
Tsakok could not be reached for comment this week.
No stranger to the mining industry
The BCSC says the sanctions were handed down after he and Sagit co-operated fully with the commission during its review of the case.
The sanctions outlined above do not prevent him from acting in his current role as a senior executive with a U.S. OTC Bulletin Board-listed junior.
In any case, he is no stranger to the mining industry.
In the mid 1990s during an exploration boom that led to the Voisey’s Bay nickel discovery in Labrador, Sagit Investment Management bought about 700,000 shares and 500,000 warrants for its mutual funds in Cartaway Resources Corp. a stock that soared to $23 on the basis of visual inspections of the drill core from three holes.
The stock plunged to $2.78 on May 22, 1996 when the company released disappointing drill results from the same drill holes.
During an interview with the Toronto Globe and Mail newspaper on May 14 (1996) Tsakok said he planned to hold onto his Cartaway shares.
Eight years later, Tsakok has switched to the unregulated U.S. OTC market, turning his attention to phosphate, a hot commodity that is a key ingredient in fertilizer, feed and industrial products.
Under the terms of agreements announced last October with a private Chinese company and its shareholders, Sterling says it is committed to putting a phosphate project in southeastern China into production.
Chenxi County Hongyu Mining Co. Ltd., has a permit to produce 100,000 tonnes of phosphate on the Gaoping property in Hunan Province It holds 58.16 million tonnes of phosphate resources with a grade of 19.8% P205, making it worth $8.14 billion at a world price of $140 per tonne, Sterling said.
Sterling’s website is long on details about phosphate. It predicts, for example, that much of the growth in global demand is expected to come from East Asia.
Dilution for shareholders
However, there is no information about when the mine will be in production and how much the related processing facilities will cost to build. Even if government approval is secured, it is also unclear that the junior has the financial wherewithal to secure the mine and put it into production.
Financial statements reveal that Sterling is generating zero revenues and posted a net loss of $34,335 or 0.00 cents a share in the three months ended November 30, 2010, compared to a loss of $29,182 or 0.00 a year earlier. As of November, the company had $144,383 in cash
The company said it recently arranged a private placement of up to 15 million 10 cent units and plans to use the $1.5 million proceeds to fulfill its obligations to Hongyu and develop the mine. It has the option under the private placement to issue another five million units on the same terms, potentially adding another $500,000 to the proceeds.
However this type of financing inevitably means a long and potentially dilutive road for existing shareholders, many of whom may not be aware of Tsakok’s previous track record and the sanctions imposed by the BCSC.
“People should do their due diligence,’’ Gracey said.
Sterling said an investment firm has been set up in Hong Kong to inject capital and (subject to government approval) put the Gaoping mine into production.
Sterling Castle Investments, the Hong Kong investing company (owned 80% by Sterling Group and 20% by Hongyu shareholders) has acquired 90% of Hongyu Mining. The remaining 10% has been transferred to nominees of Sterling, the company has disclosed.
Sterling says it has agreed to pay RMB 2 million Yuan ($301,500 Canadian) to Hongyu shareholders and retains the right to ask them to sell their 20% interest in Sterling Castle to the Vancouver firm in return for ten million common shares of Sterling.
Allana Potash Clarifies February 9, 2011 Trading Activity
TORONTO, ONTARIO, Feb 09, 2011 (MARKETWIRE via COMTEX News Network) --
Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or "the Company"), announces that the Investment Industry Regulatory Organization of Canada ("IIROC"), the regulation services provider of the TSX Venture Exchange, has ruled that all trades in the common shares of Allana that took place between 11:26:27 a.m. and 11:31:50 a.m. on February 9, 2011 at prices below CAD $1.76 per share will be re-priced to CAD $1.76 per share. The ruling is being made by IIROC on the basis that the trades were unreasonable.
The Company remains encouraged by the success of the exploration program ongoing at its Ethiopian potash project and will continue to update investors as additional results become available.
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia with Inferred Mineral Resources of 70.3 million tonnes of kainitite mineralization grading 61.7 % kainite and 30.3 million tonnes of sylvinite resource grading 25.4 % sylvite (combined 105,200,000 tonnes with a composite grade of 20.8 % KCl (see News Release dated Sept. 17, 2008). Allana has approximately 150 million shares outstanding and trades on the TSX-Venture Exchange under the symbol "AAA".
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes ''forward-looking information'' under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the cause and impact of the re-pricing on the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Allana Potash Corp. Farhad Abasov President and CEO +1-416-309-2691 fabasov@allanapotash.com
SOURCE: Allana Potash Corp.
mailto:fabasov@allanapotash.com
Copyright 2011 Marketwire, Inc., All rights reserved.
Allana Potash Corp.: Liberty Metals & Mining Exercises Participation Rights in Connection With $27.9 Million Financing for Further Proceeds of Up to $6.2 Million
TORONTO, ONTARIO, Feb 7, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or "the Company"), is pleased to announce that Liberty Metals & Mining Holdings, LLC ("LMM"), a subsidiary of Liberty Mutual Group and the Company's largest shareholder, has elected to exercise its participation rights in connection with the Company's previously announced brokered private placement for proceeds of up to $32,085,000 (including exercise in full of the over-allotment option) (See Allana news release dated February 4, 2011).
In order to maintain its 16.27% ownership in the Company, LMM has agreed to purchase up to 4,022,748 common shares (the "Common Shares") of the Company on a non-brokered basis at a purchase price of $1.55 per Common Share for total gross proceeds $6,235,259.40 (the "Financing").
The net proceeds from the Financing will be used to fund continued exploration and development work, including a definitive feasibility study, at the Company's Ethiopian potash project as well as future potential strategic land acquisitions and general corporate purposes.
Closing of the Financing is anticipated to occur concurrently with the brokered private placement on or about March 1, 2011 (the "Closing Date") and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The Common Shares will be subject to a statutory hold or restricted period of four months and one day following the Closing Date.
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia with Inferred Mineral Resources of 70.3 million tonnes of kainitite mineralization grading 61.7 % kainite and 30.3 million tonnes of sylvinite resource grading 25.4 % sylvite (combined 105,200,000 tonnes with a composite grade of 20.8 % KCl (see News Release dated Sept. 17, 2008). Allana has approximately 149.3 million shares outstanding and trades on the TSX-Venture Exchange under the symbol "AAA".
Allana Potash Increases Previously Announced Bought Deal to $27,900,000
TORONTO, ONTARIO, Feb 4, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or "the Company"), is pleased to announce that it has amended the terms of the previously announced bought deal financing to increase the size of the offering from $20,010,500 to $27,900,000. The Company has entered into an amendment agreement with a syndicate of underwriters led by Dundee Securities Ltd. as sole-bookrunner, together with Wellington West Capital Markets Inc. as co-lead underwriter and including Cormark Securities Inc. and Fraser Mackenzie Limited (the "Underwriters"), whereby the Underwriters have agreed to purchase, on a bought deal basis, 18,000,000 common shares (the "Common Shares") of the Company at a purchase price of $1.55 per Common Share (the "Amended Offering"). The Company has also granted the Underwriters an over-allotment option to increase the size of the Amended Offering by up to an additional 2,700,000 Common Shares, such option being exercisable at any time up to 48 hours prior to the closing of the Amended Offering. If the over-allotment option is exercised in full, the aggregate gross proceeds raised will be $32,085,000.
The net proceeds from the Amended Offering will be used to fund continued exploration and development work, including a definitive feasibility study, at the Company's Ethiopian potash project as well as future potential strategic land acquisitions and general corporate purposes.
Closing of the Amended Offering is anticipated to occur on or about March 1, 2011 (the "Closing Date") and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The Common Shares will be subject to a statutory hold or restricted period of four months and one day following the Closing Date.
In connection with the financing, the Company has agreed to pay to the Underwriters a cash commission of 6.0% of the gross proceeds raised and issue to the Underwriters that number of compensation options equal to 5.0% of the number of Common Shares sold. Each compensation option shall entitle the holder to acquire one Common Share of the Company at a price of $1.55 for a period of 18 months from the date of closing of the Amended Offering.
Allana Potash Announces Bought Deal Private Placement
TORONTO, ONTARIO, Feb 3, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Allana Potash Corp. (TSX VENTURE:AAA) ("Allana" or "the Company"), is pleased to announce that it has entered into an agreement with a syndicate of agents led by Dundee Securities Ltd., together with Wellington West Capital Markets Inc. as co-lead underwriter and including Cormark Securities Inc. and Fraser Mackenzie Limited (the "Underwriters"), to purchase 12,910,000 common shares of the Company (the "Common Shares") at a price of $1.55 per Common Share for gross proceeds of $20,010,500 on a bought deal private placement basis (the "Offering"). The Company has also granted the Underwriters an over-allotment option to increase the size of the Offering by up to an additional 1,936,500 Common Shares, such option being exercisable at any time up to 48 hours prior to the closing of the Offering. If the over-allotment option is exercised in full, the aggregate gross proceeds raised will be $23,012,075.
The net proceeds from the Offering will be used to fund continued exploration and development work, including a definitive feasibility study, at the Company's Ethiopian potash project as well as future potential strategic land acquisitions and general corporate purposes.
Closing of the offering is anticipated to occur on or about March 1, 2011 (the "Closing Date") and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The Common Shares will be subject to a statutory hold or restricted period of four months and one day following the Closing Date.
In connection with the financing, the Company has agreed to pay to the Underwriters a cash commission of 6.0% of the gross proceeds raised and issue to the Underwriters that number of compensation options equal to 5.0% of the number of Common Shares sold. Each compensation option shall entitle the holder to acquire one Common Share of the Company at a price of $1.55 for a period of 18 months from the date of closing of the Offering.
RUU.V Stans HREE somethings up eom
this is why it popped,
about 4:30 in
http://watch.bnn.ca/#clip410832
Great Western Minerals Group Signs Letter of Intent to Supply Rare Earth Alloys to U.S. Based Electron Energy Corporation
SASKATOON, SASKATCHEWAN, Jan 31, 2011 (Marketwire via COMTEX News Network) --
Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (OTCQX:GWMGF) announces that it has signed a non-binding Letter of Intent ("LOI") with Electron Energy Corporation ("EEC") of Landisville, Pennsylvania to supply samarium metal, gadolinium metal and samarium-cobalt alloys used by EEC to manufacture magnets and magnet systems.
EEC is a fully integrated U.S. designer and manufacturer of Rare Earth magnets and assemblies. Founded in 1970 and with approximately 120 employees today, EEC is positioned as a significant American rare earth magnet producer.
GWMG President and Chief Executive Officer Jim Engdahl said, "The ability of GWMG to enter into this LOI is based on our Company's plans to put the formerly producing Steenkampskraal mine back into production. The interest of EEC in entering into this agreement with our Company is a concrete example of the importance of certainty of supply in today's Rare Earths market."
Michael H. Walmer, President of Electron Energy Corporation, stated, "As a supplier to our own customers it is essential that we secure long term supplies of raw materials. As a customer of a company such as Great Western Minerals Group, it is equally important that we express our intent, as we have done through this LOI, so that GWMG can adequately plan its own capacity."
The Letter of Intent focuses primarily on samarium metal, gadolinium metal, samarium cobalt alloys produced by co-reduction and samarium cobalt alloys produced by vacuum induction melting.
Jim Engdahl, President and CEO
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 70.2% ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to, entering into a binding agreement with EEC, satisfaction of the conditions precedent with respect to GWMG's offtake agreement, receipt of all required approvals (including those relating to the commencement of production at the Steenkampskraal mine) and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form available at www.sedar.com.
CUSIP: 39141Y 10 3
SOURCE: Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. Dwight Percy Manager of Investor Relations (306) 659-4500 info@gwmg.ca www.gwmg.ca Great Western Minerals Group Ltd. 219 Robin Crescent Saskatoon, SK S7L 6M8
Copyright (C) 2011 Marketwire. All rights reserved.
Great Western Minerals Group Signs Letter of Intent to Supply Rare Earth Alloys to U.S. Based Electron Energy Corporation
SASKATOON, SASKATCHEWAN, Jan 31, 2011 (Marketwire via COMTEX News Network) --
Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (OTCQX:GWMGF) announces that it has signed a non-binding Letter of Intent ("LOI") with Electron Energy Corporation ("EEC") of Landisville, Pennsylvania to supply samarium metal, gadolinium metal and samarium-cobalt alloys used by EEC to manufacture magnets and magnet systems.
EEC is a fully integrated U.S. designer and manufacturer of Rare Earth magnets and assemblies. Founded in 1970 and with approximately 120 employees today, EEC is positioned as a significant American rare earth magnet producer.
GWMG President and Chief Executive Officer Jim Engdahl said, "The ability of GWMG to enter into this LOI is based on our Company's plans to put the formerly producing Steenkampskraal mine back into production. The interest of EEC in entering into this agreement with our Company is a concrete example of the importance of certainty of supply in today's Rare Earths market."
Michael H. Walmer, President of Electron Energy Corporation, stated, "As a supplier to our own customers it is essential that we secure long term supplies of raw materials. As a customer of a company such as Great Western Minerals Group, it is equally important that we express our intent, as we have done through this LOI, so that GWMG can adequately plan its own capacity."
The Letter of Intent focuses primarily on samarium metal, gadolinium metal, samarium cobalt alloys produced by co-reduction and samarium cobalt alloys produced by vacuum induction melting.
Jim Engdahl, President and CEO
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 70.2% ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to, entering into a binding agreement with EEC, satisfaction of the conditions precedent with respect to GWMG's offtake agreement, receipt of all required approvals (including those relating to the commencement of production at the Steenkampskraal mine) and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form available at www.sedar.com.
CUSIP: 39141Y 10 3
SOURCE: Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. Dwight Percy Manager of Investor Relations (306) 659-4500 info@gwmg.ca www.gwmg.ca Great Western Minerals Group Ltd. 219 Robin Crescent Saskatoon, SK S7L 6M8
Copyright (C) 2011 Marketwire. All rights reserved.
Michigan Congressman Peters Tours Great Western Technologies Inc. Plant in Troy, Michigan
TROY, MICHIGAN, Jan 27, 2011 (MARKETWIRE via COMTEX News Network) --
Representative Gary Peters (House of Representatives 9th Congressional District, Oakland County) today toured Great Western Technologies Inc. ("GWTI") at its Troy, Michigan plant.
During his tour, Representative Peters stated to Great Western Technologies Inc. management that, in his opinion, GWTI has the ability to help address some of the United States' Rare Earth alloy needs.
GWTI, a wholly owned subsidiary of Great Western Minerals Group Ltd. (TSX VENTURE: GWMG) (OTCQX: GWMGF), converts elemental Rare Earths into metal alloy castings and powders for U.S. magnet production and other manufacturing purposes. This allows U.S. production of end products such as hybrid vehicles, wind turbines, other renewable energy applications and national security systems.
In an April 2010 report to Congress, the United States Government Accountability Office warned of an impending Rare Earths crisis, especially as it relates to homeland security and national defense. GWMG is a member of the U.S. Magnet Materials Association, an organization that supports the establishment of a national Rare Earth alloy and metal stockpile by the federal government for homeland security and national defense purposes.
During the plant tour by Representative Peters, Great Western Minerals Group President and Chief Executive Officer Jim Engdahl said, "Given that China today controls about 97% of the global Rare Earth production market, GWMG offers an alternative to China in U.S.-based production capacity, for a wide range of applications such as electronics, hybrid cars, energy systems, and defense networks."
Matamec Intersects 1.45% TREO Over 21 Metres on its Kipawa HREO-Y-Zr Deposit
MONTREAL, QUEBEC, Jan 27, 2011 (MARKETWIRE via COMTEX News Network) --
Matamec Explorations Inc. ("Matamec") (TSX VENTURE: MAT) is pleased to announce that the first group of assay results has been received for the 2010-2011 diamond drilling program on the Kipawa HREE-Y-Zr deposit in western Quebec.
This 3,300 metres drill program started on December 1st 2010. Its main objective is the improvement of resource quality, moving the majority of inferred resources into the indicated category. This necessitates the completion of a 50m spacing drilling grid over most of the deposit, while portions of the western zone will be drilled at 25m centres to gain an even better understanding of the high-grade zone.
To date, 31 DDH have been completed on the campaign, representing 2,405 meters of drilling, and preliminary results have been received for the first 13 holes of the campaign (KM82 to KM94, see Figure 1: http://media3.marketwire.com/docs/Figure1_Matamec_ENG_0127.pdf). Mineralized intervals for the six best holes are presented below. All six holes are well mineralized with both Eudialyte and Mosandrite, and indeed this first batch of analysis includes the best hole drilled to date on the property (KM94, beating out the previous contender (KM61) by more than 25% in terms of grade multiplied by thickness).
Andre Gauthier, president of Matamec Explorations, comments that: "We were already expecting good results from our drilling in the western zone. What we got with those six holes, and with KM94 in particular, were great to exceptional results. These holes clearly cement the presence of a high-grade zone at the heart of the Kipawa deposit."
Table 1
Interim REE Zones Assay Results, 0.1% Y2O3 cut-off
2010-2011 Kipawa Drill Program
--------------------------------------------------------------------------
Drill From To Width ZrO2 LREO IREO
Hole (m) (m) (m) (%) (%) (%)
--------------------------------------------------------------------------
greater than
KM87 3.95 8.05 4.1 1.011 0.623 0.062
--------------------------------------------------------------------------
greater than
KM87 13.4 24.05 10.65 0.715 0.490 0.046
--------------------------------------------------------------------------
KM87 63 65.6 2.6 0.182 0.631 0.056
--------------------------------------------------------------------------
greater than
KM88 3.35 13.5 10.15 0.719 0.600 0.053
--------------------------------------------------------------------------
KM88 24.8 30.9 6.1 0.245 0.721 0.083
--------------------------------------------------------------------------
greater than
KM89 1.5 8.5 7 0.935 0.576 0.057
--------------------------------------------------------------------------
greater than
KM89 16.55 26.6 10.05 0.995 0.574 0.057
--------------------------------------------------------------------------
KM91 10.25 18.5 8.25 0.798 0.339 0.034
--------------------------------------------------------------------------
greater than greater than greater than
KM91 27.5 35.55 8.05 0.754 0.557 0.052
--------------------------------------------------------------------------
greater than
KM92 6.9 12.05 5.15 1.197 0.391 0.050
--------------------------------------------------------------------------
KM92 22.95 28.6 5.65 0.456 0.915 0.114
--------------------------------------------------------------------------
greater than
KM94 3.8 9 5.2 1.218 0.735 0.083
--------------------------------------------------------------------------
greater than
KM94 12.4 33.37 20.97 0.745 0.924 0.081
--------------------------------------------------------------------------
greater than greater than
KM94 56.25 59 2.75 1.036 0.150 0.022
--------------------------------------------------------------------------
----------------------------------------------------------------------
Drill HREO Y2O3 TREO % HREO
Hole (%) (%) (%) +Y2O3/TREO
----------------------------------------------------------------------
KM87 0.113 0.243 1.042 34
----------------------------------------------------------------------
KM87 0.068 0.153 0.757 29
----------------------------------------------------------------------
KM87 0.091 0.226 1.004 32
----------------------------------------------------------------------
greater than
KM88 0.077 0.177 0.906 28
----------------------------------------------------------------------
greater than greater than
KM88 0.123 0.268 1.195 33
----------------------------------------------------------------------
KM89 0.090 0.212 0.935 32
----------------------------------------------------------------------
KM89 0.095 0.217 0.944 33
----------------------------------------------------------------------
KM91 0.051 0.111 0.534 30
----------------------------------------------------------------------
greater than greater than greater than
KM91 0.093 0.205 0.907 33
----------------------------------------------------------------------
KM92 0.083 0.198 0.722 39
----------------------------------------------------------------------
greater than greater than
KM92 0.172 0.391 1.591 35
----------------------------------------------------------------------
KM94 0.193 0.436 1.448 43
----------------------------------------------------------------------
KM94 0.127 0.314 1.446 30
----------------------------------------------------------------------
greater than greater than
KM94 0.049 0.101 0.322 47
----------------------------------------------------------------------
--------------------------------------------------------------------------
(i) Light rare earths (LREO) = La2O3 to Nd2O3, Intermediate rare earths
(IREO) = Sm2O3 to Gd2O3, Heavy rare earths (HREO) = Tb2O3 to Lu2O3.
(iii) TREO = LREO + IREO + HREO + Y2O3
--------------------------------------------------------------------------
The drilling results set out above are preliminary, as some of the REE and zirconium analyses exceeded the limits of the analytical methods (marked by a "greater than" in the table). Full results will be released when they become available.
Upon receipt of final 2010-2011 assay results, a new 43-101 resource estimate will be completed by SGS Geostat using the new data. Matamec's next drilling campaign on the Zeus property, set to begin in spring 2010, will aim to better define the extensions of the deposit.
QAQC procedures
Matamec maintains a quality control program conforming to the industry's best practices. The NQ core is split, with one half kept as a witness at our Val d'Or facilities. Samples are then submitted in batches of 25, each containing two known standards and one blank, to the ALS Chemex ("ALS") preparation facility in Val d'Or where the samples are reduced to pulps and couriered to ALS in Vancouver (B.C.) for analysis. The samples are dissolved using a lithium metaborate fusion before being analysed by ICP-MS methods on a 2 gram sample size, with overlimits handled either by ICP-MS on a dilute solution, in the case of rare earths, or by XRF, in the case of zirconium. The samples and core are managed in a secure location until delivered to ALS. ALS maintains ISO 17025 certification, the highest accreditation available for QA/QC.
The geological data in this press release was prepared by Aline Leclerc, geologist and Matamec's Vice-President Exploration, a Qualified Person as defined by NI 43-101.
About Matamec
Other than its focus on the development of the Kipawa deposit and exploration for other showings of rare earths-yttrium-zirconium-niobium-tantalum on its Zeus property, Matamec's exploration strategy is to discover gold deposits, base metals and platinum group, as well as rare metals.
For gold, the company explores in the prolific mining camp of Timmins, Ontario, of which the main target is the Matheson JV with Goldcorp Canada Ltd. and Goldcorp Inc.
In Quebec, the Company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, it is exploring for gold together with Northern Superior Resources Inc. on the Lesperance/Wachigabau property.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts: Matamec Explorations Inc. Andre Gauthier President 514-844-5252 514-844-0550 (FAX) info@matamec.com www.matamec.com
SOURCE: Matamec Explorations Inc.
mailto:info@matamec.com http://www.matamec.com
Copyright 2011 Marketwire, Inc., All rights reserved.
Avion Announces New Discovery-3.84 g/t Au Over 47.6 Metres
TORONTO, ONTARIO, Jan 26, 2011 (MARKETWIRE via COMTEX News Network) --
Avion Gold Corporation (TSX: AVR)(OTCQX: AVGCF) ("Avion" or "The Company") is pleased to announce the results of 24 diamond drill holes that have tested six target areas at the Hounde Project in Burkina Faso. The Hounde Property hosts the Vindaloo Zone which contains an estimated Indicated mineral resource of 883,000 tonnes grading 2.33 g/t Au totaling 63,000 ounces gold and an Inferred mineral resource of 5,725,000 tonnes grading 2.97 g/t Au totaling 547,000 ounces gold. Subsequent drilling has extended the Vindaloo zone 300 metres to the north and 100 metres to the south.
Highlights of the new 2010 drill intercepts are as follows:
-- 2.18 g/t Au over 8.5 metres in hole H-10-10 at Diosso South Zone
-- 1.55 g/t Au over 6.2 metres in hole H-10-13 at Diosso South Zone
-- 1.01 g/t Au over 12.1 metres in hole H-10-15 at Diosso South Zone
-- 11.90 g/t Au over 1.2 metres in hole H-10-17 at Diosso South Zone
-- 21.13 g/t Au over 4.0 metres in hole H-10-19 at Kueredougou Zone
-- 3.84 g/t Au over 47.6 metres in hole H-10-41 at Bouere Zone
-- 6.24 g/t Au over 10.5 metres in hole H-10-42 at Bouere Zone
-- 0.55 g/t Au over 33.7 metres in hole H-10-37 at Grand Espoir Zone
-- 2.63 g/t Au over 5.3 metres in hole H-10-39 at Douhoun Zone
-- 7.80 g/t Au over 3.4 metres in hole H-10-40 at Douhoun Zone
-- 6.66 g/t Au over 3.0 metres in hole H-10-44 at Vindaloo Zone
-- 2.84 g/t Au over 3.0 metres in holes H-10-44 at Vindaloo Zone
Avion completed three additional follow-up holes in the Vindaloo area and first pass drill programs over the Diosso South, Kueredougou, Bouere, Douhoun and Grand Espoir artisanal areas (see Figure 1). Drilling at the Bouere target has led to an exciting new discovery. Significant mineralization was intersected at all of the other targets. A summary of significant drill intercepts is attached at the end of the news release.
John Begeman, Avion's President and CEO, stated: "This new discovery at Bouere has given Avion yet another place to grow the Hounde project. I am especially looking forward to the re-start of drilling in February and the flow of new drill results."
Technical Details
Bouere Zone
Avion discovered an exciting new zone of gold mineralization at the Bouere artisanal site, which is located approximately 14 kilometres northwest of the Vindaloo Zone (see Figure 2). Hole H-10-41 tested a wide zone of artisanal workings and intersected 3.84 g/t over 47.6 metres. A nearby hole, H-10-42, which tested a separate artisanal trend and followed up on a historic intercept of 5.97 g/t Au over 10.0 metres, returned 6.24 g/t Au over 10.5 metres. These two holes are approximately 150 metres apart. Additional drilling and perhaps IP geophysical surveys are being planned over this area.
Vindaloo Zone
The Vindaloo Zone has now been traced for 1,000 metres along strike, to approximately 200 metres depth and is open to the north, south and to depth (see Figure 2). Hole H-10-44 appears to have intersected the Vindaloo zone near surface; two holes drilled below hole H-10-44 (H-10-45 and H-10-46) intersected a fault zone, which appears to have offset the zone. The Vindaloo zone correlates exceptionally well with a 3,400 metre long geophysical anomaly (induced polarization resistivity) that has only been tested for 1,000 of the 3,400 metres of its strike length. Parallel, untested geophysical anomalies, of similar character, occur both east and west of this target trend on the Hounde Project. Additional IP surveys are being carried out in the Vindaloo area in advance of further drilling.
Kueredougou Zone
Avion tested the Kueredougou zone with five holes, one of which returned 21.13 g/t Au over 4.0 metres (see Figure 3). This zone lies in the middle of the southern concession block. Historic drill intercepts from this zone returned highlight intercepts of 83.35 g/t Au over 4.0 metres and 9.24 g/t Au over 13.0 metres. The Keuredougou zone correlates extremely well with an open ended induced polarization (IP) chargeability geophysical anomaly that has been traced for approximately three kilometres (see figure) along strike. Drilling has tested about a third of the geophysical anomaly. The IP survey has also identified at least six additional geophysical anomalies that require review. The Keuredougou zone is hosted by a sheared, intensely sericite-, carbonate- and sulphide-altered mafic fragmental at the contact between massive mafic flows and more fragmental volcanic rocks.
Diosso South Zone
The Diosso South zone returned intercepts of up to 2.18 g/t Au over 8.5 metres (see Figure 3). The Diosso South zone lies near the south central part of the southern block of the Hounde concessions. Previous drill holes intersected the Diosso South zone for 500 metres along strike to approximately 65 metres depth. Highlights of the six historic holes that intersected the Diosso south zone include 3.44 g/t Au over 14.0 metres and 2.72 g/t Au over 20.0 metres. The Diosso South zone is hosted by sericitized and quartz veined mafic volcanic rocks and appears to be part of the same shear zone system that hosts the Kueredougou zone.
Douhoun Zone
The Douhoun zone is located approximately 14.5 kilometres north-northwest of the Vindaloo zone (see Figure 2). The Douhoun zone has been traced by drilling for 400 metres along strike and is open to the north, south and to depth. Previous drilling has returned intercepts to 4.86 g/t Au over 17 metres. Avion's drilling returned 2.63 g/t Au over 5.3 metres in hole H-10-39 and 7.80 g/t Au over 3.4 metres in hole H-10-40 at Douhoun Zone. The zone is a quartz vein/quartz breccia system hosted by a mixture of mafic volcanics and intrusions. The Douhoun zone is open along strike and to depth with clear evidence of parallel and cross-cutting zones of mineralization.
Grand Espoir Zone
The Grand Espoir zone lies approximately 16.8 kilometres northwest of the Vindaloo zone (see Figure 2). Previous rotary air blast holes in the area returned up to 2.26 g/t Au over 12.0 metres. Avion completed four follow-up holes in this area with one hole returning a wide zone of gold mineralization with an intercept of 0.55 g/t Au over 33.7 metres. The Grand Espoir area is underlain by a mixture of felsic intrusion and mafic volcanic breccia.
Don Dudek, Avion's Senior Vice President Exploration stated: "The new Bouere discovery and the validation of historic zones, along with previous drill results, demonstrate many different, potentially economic settings for gold mineralization on the Hounde Property. Instead of just one zone to drive the Hounde project forward it now seems that Avion may be able to develop a gold camp where developing mineral resources in several different zones seems possible."
Avion's procedures for handling core have been presented in previous news releases (See for example Avion News Release dated May 13, 2010). Three samples that contained greater than 30 g/t Au have been capped at 30 g/t Au in the significant results table at the end of the release. True widths are not presented in this release as more information is required before estimated true widths are determined. However, true widths may be as low as 40% of the drill widths that are presented.
Don Dudek, P.Geo., the Senior Vice President, Exploration of the Company and a qualified person under National Instrument 43-101, has reviewed the scientific and technical information in this press release.
Mining in Burkina Faso
The mining industry in Burkina Faso is growing at a rapid rate due to a combination of a stable elected democratic government, excellent geology and a competitive fiscal regime. Currently six gold mines are in production or development in Burkina Faso (Essakane - IAMGOLD Corporation, Mana - SEMAFO, Inata - Avocet Mining PLC, Youga - Etruscan Resources Inc., Taparko - High River Gold Mines Ltd., Kalsaka - Cluff Gold PLC). In 2011, it is expected that Burkina Faso will become the fourth largest gold producing country in Africa. The country has legislated low taxes, with an income tax rate of 20% and a corporate profits tax of 20% for mining companies. There is a three-year tax holiday that includes relief from VAT and custom duties during construction and reduced customs duties of 7.5% during mining operations. The government is entitled to a 10% free carried interest and a reasonable 3% Royalty on gold production.
Allana Potash Continues to Intersect Significant Potash With Hole DK-10-08 Returning 31.6 % KCI Over 2 m
TORONTO, ONTARIO, Jan 24, 2011 (MARKETWIRE via COMTEX News Network) --
Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-10-08, located in the southwestern section of Allana's property, intersected two prominent zones of potash mineralization. Hole DK-10-08 intersected 31.6% KCl over two metres, and 22.1% KCl over 7.5 metres in two distinct intersections at shallow depths beginning at approximately 164 metres. The upper interval occurs within a thicker potash sequence that returned 24.6% KCl over 4.1 metres.
Farhad Abasov, President and CEO, commented: "Allana is very encouraged with our drill results from Hole DK-10-08 which yielded similar results to Hole 06 suggesting good continuity in the southwestern part of the evaporite basin. In addition, management believes the strong potash mineralization in Hole 08 suggests the Musley deposit may extend further south into the basin, adding to the resource potential of the project."
Hole DK-10-08 was collared in the southwestern portion of the Allana property, approximately four kilometres west of drill hole DK-10-04 (see attached figure) and 2.5 km northwest of drill hole DK-10-06. Hole 08 was drilled vertically and may represent an extension of the Musley Deposit south into the basin and into a region that has not been drilled in the past. True widths of the potash zones are estimated to be very similar to drilled widths due to the flat-lying nature of the potash horizons. The zones of potash mineralization are outlined in the following table:
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FROM (m) TO (m) WIDTH (m)(i) KCL (%)
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164.30 168.40 4.10 24.60
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Incl. 165.40 167.40 2.00 31.58
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172.70 180.20 7.50 22.08
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(i)Drilled width
Similar to previous holes, evaluation of the core suggests the upper intersection correlates with the Sylvinite Zone as defined by Parsons at the historic Musley Deposit. Similarly, the lower intersection, 6.7 m at 22.04% KCl, is dominated by kainite and appears to correspond to the Kainitite Zone in the Parsons stratigraphy.
Exploration drilling has resumed at the project and hole DK-11-11 has been completed to a depth of 164 metres. Drill rigs are currently working at holes DK-11-12 and 13 to evaluate the continuity of the potash mineralization between holes 08 and 04, and in the Haro concession respectively (see attached figure). Samples from Hole 11 are en route to Saskatoon for analysis and samples from Holes 9 and 10 are in the lab.
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia with Inferred Mineral Resources of 70.3 million tonnes of kainitite mineralization grading 61.7 % kainite and 30.3 million tonnes of sylvinite resource grading 25.4 % sylvite (combined 105,200,000 tonnes with a composite grade of 20.8 % KCl (see News Release dated Sept. 17, 2008). Allana has approximately 147.8 million shares outstanding and trades on the TSX-Venture Exchange under the symbol "AAA".
Quality Control and Quality Assurance
Allana employees follow standard operating and quality assurance procedures intended to ensure that all sampling techniques and sample results meet international reporting standards. Procedures for handling core samples begin with securing the potash-bearing HQ-NQ-sized core at the drill site in plastic poly-tubing which is then thermally sealed. Core is placed in plastic core boxes and transported to Allana's camp for geological logging, geotechnical logging and photographing. Significant intervals are dry cut in half using a specially modified tungsten carbide bladed band-saw. Half core samples are then double bagged and thermally sealed prior to transporting to Addis Ababa by Allana personnel. In this initial phase, halite blanks are randomly inserted into the sample stream at a rate of 1 in 20 and sent for analysis with the core samples. The remaining core is re-sealed in plastic poly-tubing and the core boxes secured at Allana's exploration camp. Upon arrival in Addis Ababa core samples are stored at Allana's small warehouse facility and then taken to the Ethiopian Ministry of Mines & Energy where permission is obtained to export the samples. The bagged samples are then carefully packed into boxes and shipped via DHL to the Saskatchewan Research Council in Saskatoon. This sampling procedure was initiated by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH, Allana's potash consulting firm, supervised by Allana's Ethiopian based Project Manager Jason Wilkinson, M.Sc., and periodically reviewed by Allana's Senior Vice President of Exploration, Peter J. MacLean, Ph.D., P. Geo.
Allana is utilizing SRC's Potash ICP Analysis package designed for multi-element analysis of potash samples. Upon arrival at SRC Geoanalytical Laboratories core samples are jaw crushed to 60 % @ -2mm and 100 g sub sample is split out using a riffler and transferred to vials. The subsample is pulverized to 90 % @ -106 microns using a puck and ring grinding mill to create a pulp. The grinding mills are cleaned between groups using Quintus quartz. The pulp is then transferred to a labelled plastic snap top vial. An aliquot of pulp is placed in a test-tube with 15 ml of 30 degrees C DI water. The sample is shaken. The soluble solution is then analyzed by ICP-OES. The method is suitable for the soluble analysis of commercial potash (Sylvite). The soluble solution is then analysed by ICP-MS. In addition samples are analysed for FeO (wt%), Br and Cl by MS, plus insolubles. SRC Geoanalytical Laboratories has been certified by the Standards Council of Canada (SCC) to conform to the requirements of ISO/IEC 17025:2005 (CAN-P-4E).
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect and estimated timeline of the drilling and assay results on the Company, the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting, ; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
To view the Drill Hole Location Plan Map, please visit the following link: http://file.marketwire.com/release/AllanaLocationMap.pdf.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contacts: Allana Potash Corp. Farhad Abasov President and CEO +1-416-309-2691 fabasov@allanapotash.com
SOURCE: Allana Potash Corp.
mailto:fabasov@allanapotash.com
Copyright 2011 Marketwire, Inc., All rights reserved.
MCP halted ? MWM watch for a
RUU type move out of GWG on today's news
Apogee Enters Into Definitive Agreement to Acquire a 100% Interest in the Pulacayo-Paca Silver Project, Bolivia
TORONTO, ONTARIO, Jan 21, 2011 (MARKETWIRE via COMTEX News Network) --
Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE: APE) is pleased to announce that it has entered into a definitive agreement (the "Agreement") with Golden Minerals Company ("GMC") (TSX: AUM)(NYSE Amex: AUMN) to acquire all of the issued and outstanding shares of an indirectly held subsidiary of GMC which holds a 100% interest in the Pulacayo-Paca Project. The Pulacayo-Paca Project, located in southern Bolivia, was previously subject to a joint venture agreement between the Company and GMC wherein the Company has the right to acquire up to a 60% joint venture interest in the Pulacayo-Paca Project. Upon completion of the proposed transaction, the Company will acquire a 100% interest in the property.
Pursuant to the Agreement, the Company shall acquire all of the issued and outstanding shares of a subsidiary of GMC, which holds a 100% interest in the Pulacayo-Paca Project. In consideration, Apogee shall issue 5,000,000 common shares of the Company (the "Common Shares") upon closing of the transaction and shall issue an additional 3,000,000 Common Shares and shall pay GMC a cash fee in the amount of $500,000 eighteen (18) months following closing of the transaction. Closing of the transaction is scheduled to occur next week and remains subject to the receipt of all necessary regulatory and securities approvals, including the approval of the TSX Venture Exchange, along with other customary closing conditions.
David Gower, P.Geo., the C.E.O. of the Company, noted, "Today's announcement represents a major achievement for Apogee and provides an immediate boost to the silver resource base owned by the Company. Golden Minerals has been an excellent partner and we are pleased to have their continued involvement as a major shareholder of Apogee. This transaction solidifies our commitment to the development and further exploration of the Pulacayo-Paca Project."
For detailed project information please refer to Apogee's web site at www.apogeeminerals.com.
Matamec Announces a 42% Increase in TREO Indicated Resources at its Zeus Property
MONTREAL, QUEBEC, Jan 20, 2011 (MARKETWIRE via COMTEX News Network) --
Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE: MAT) announces that it has received an updated NI 43-101 resource calculation from SGS Canada Inc. - Geostat geological group ("SGS Geostat") for the Kipawa deposit located on its Zeus property. For reference, the original resource estimate, dated May 20th 2010, has been made available on SEDAR since Septembre 17th 2010.
Press Release Highlights
-- SGS Geostat considers that the deposit is located between surface and a
depth of 90m and is continuous over a distance of 1.45 kilometers, a
width of 200 metres and a thickness of 50 meters; Matamec believes that
the location of the deposit, outcropping at the top of a small hill,
will allow a reduced environmental footprint as well as lower operating
costs;
-- In this latest estimate, the resource has been considered under two
scenarios: 1) a resource with a 0.50% ZrO2 cut-off, or 2) a resource
with a 0.016% Dy2O3 cut-off. Under Scenario 1, indicated resources are
estimated at 67,200 t of TREO while inferred resources are estimated at
53,300 t TREO. This represents a 42% increase in indicated resources
compared to the May 20th 2010 estimate;
-- Still under Scenario 1, indicated resources of Dy2O3 are estimated at
2,400,000 kg, Tb2O3 resources at 400,000 kg and Y2O3 resources at
14,700,000 kg, while inferred Dy2O3 resource are estimated at 1,900,000
kg, Tb2O3 resources at 300 000 kg and Y2O3 resources at 12,100,000 kg;
-- A definition drilling campaign is presently underway. This campaign main
objective is the improvement of resource quality, converting the
majority of inferred resources into indicated (see our December 2nd 2010
press release);
-- Matamec recently announced a 89.2% recuperation of rare Earths from
whole rock from Kipawa's Eudialyte Zone (see our world premiere
announcement in the October 18th 2010 press release), and metallurgical
test are presently underway at SGS Lakefield on concentrates from the
Eudialyte zone. The physical characteristics of the Kipawa ore allow for
low-cost chemical extraction, which gives it a competitive edge against
current rare earth producers.
-- A scoping study is being prepared by the Roche engineering firm (see our
Septembre 9th press release).
-- Given the deposit's significant yttrium and heavy rare earth enrichment,
Matamec intends to target the expending permanent magnet and phosphor
world markets. Indeed, prices for 99% pure Tb2O3 have recently risen to
520$/kg, 300$/kg for Dy2O3 and 70$/kg for Y2O3 (see our June 17th press
release).
Andre Gauthier, president of the company, comments that: "With the beginning of the 3rd drilling campaign announced on december 2nd 2010 and the 23 DDH completed to date in that campaign, we are confident that we will soon see the majority of resources announced today converted to indicated. Considering the encouraging results we've had in our metallurgical tests, we feel that our current resources, and our heavy rare earth and yttrium resources in particular, clearly show the defining importance of the Kipawa deposit in the rare-earth market."
The Zeus heavy rare earths-yttrium-zirconium Property - Kipawa deposit
The Zeus heavy rare earths-yttrium-zirconium property is located close to infrastructures and is easily accessible via a network of forestry roads. It is located 160 kilometres south-west of Rouyn-Noranda and 65 kilometres east of the town of Temiscaming. The property is 100% owned by Matamec and is composed of 300 designated claims covering more than 17,600 hectares in the Kipawa Alkalic Complex. It includes at its heart the Kipawa deposit, also known as the Sheffield Zone. This deposit had historical yttrium and zirconium resources circa 1990, with its first NI 43-101 resource calculation in May 2010 (available on SEDAR).
Updated NI 43-101 resources
Detailed results of the updated resource calculation can be found in the following two tables. Resources are presented under two scenarios (greater than 0.5% ZrO2 and greater than 0.016% Dy2O3) with two categories each (indicated and inferred). Heavy rare earth oxides (HREO), total rare earths oxides plus yttrium (TREO), yttrium, zirconium and tonnages are also provided.
The mineralization is located inside a syenite unit. The syenite dips 20 degrees to the south-west and varies in true thickness from 40 to 65 meters. Three TREO enriched layers are found within it and vary in true thickness from 2 to 28 meters. These 3 layers form the TREO enriched geological zone. The non TREO enriched portions of the syenite are referred to as ZrO2 geological zone.
RE: GOG.V silver, how can 40% JV partner SOI.V
be up 70 % whereas GOG.V w/ 60% is flat ???
I own 3 Stan Bhrati plays AAA, AVR, APE
can't argue with his track record