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I know of a fair amount of people that are watching and are getting involved in this stock, but none of them are on ihub as far as I know.
Na I am just saying there is additional buying than recent today... meaning to me that there may be more than just the normal buyers, i.e. manipulators.
OT: Take a look at crazy NWOG today. That thing finally coming back can only bode well for AURC.
Nice volume today. Manipulators accumualating/covering before next big run up?
I think PR plans are to start releasing more drill results when they are ready, and I guess they are not ready yet. But I expect that once they start, they will come out fairly regularly. I suppose they also probably have some other behind the scenes work to take care of since they are still a pretty new company.
There has been a nice and healthy consolidation over the past 2-3 weeks though. Anytime the price dips into the 1.50s either some buyers are showing up, or the sellers, whether they be the SB-2 guys or not, are not willing to sell that low. Hard to say as I have not been watching Level II that closely, but assuming that we will be getting some nice drill results in soon, then we should get some nice volume and be able to take out the sellers sooner or later.
Nice volume this week for a change. If this keeps up it won't be long until we are back above $1.
Wish i knew. Probably just the fact that GORO is still mostly unknown. Today would be the perfect day for a PR with some nice drill results to bring some new eyes into this stock.
Also keep in mind that we are still up over 50% after almost doubling from 2 months ago, so some consolidation was needed.
Our time will come as the drill results come out and confirm that El Aguila is a property worth developing.
http://www.goldresourcecorp.com/project-ea.php
"Based on the assumptions made at the time of the Scoping Study, cash costs of producing an ounce of gold would be $102 using silver revenues as a credit against costs (the silver price used for the study was $7.00/ounce and the gold price used was $430/ounce) The payback of the capital for the project would be 7 months.
Based on the work performed to date, GRC believes it has an exciting project that will meet the Company's development and production criteria."
Give the public a decent resource estimate and that will be all she wrote for this stock trading under $2.
Thanks SR, forgot about that one. It seems a bit weird to me that Parkin appears to have been demoted without any official announcement, but it sure is nice to see this company talking via PRs again.
Who is Fedor Dovgan? I can't find him on the website?
I sure could go for some new drill results right about now. We need some nice PR's to get this company some more exposure. Any informed new eyes will definately be impressed after just a quick look at this company.
We shall see. I'm not too worried about the next couple weeks though, because I'm pretty much certain we will be a good deal higher 6, 12, 24 months, etc. from now. If they want to take it down over the next couple days, fine with me. I will buy more if I can.
Sounds like a good strategy to me
The $1.55+ area seems to be holding up pretty well, with the low on monday at $1.57, yesterday at $1.55, and today at $1.56 so far. There appears to be plenty of bids and accumulators at this level and it doesn't look to fail. I said last week that I doubt we'll ever see sub $1.50 again and I'll stand by that unless we get some unexpected news that pulls it down. If that should happen I may welcome it though, as I will likely be there with you buying some more. Chartwise we are back to the lower uptrend line, and I'd be surprised if we violated it by any notable margin.
I wouldn't worry about a top. The offering wasn't all that big and we got a little over extended on the chart. It looks to me like we are going through a healthy consolidation of gains. We hit $1.63 today, which may be the low. I wouldn't be surprised to see $1.60 next week, and highly doubt we will ever see sub $1.50 ever again.
Not long until we are over $2 assuming gold keeps rising and this company gets some more exposure.
This week was pretty dead in the gold and silver sector and next week will be even worse for all markets with US Thanksgiving. We should be happy with the volume we got. This gem is still mostly undiscovered IMO.
I'm not so much worried about workers as I am governments when I refer to countires further south (i.e. Venezuela), but you make a good point.
Yes I am not to worried about it. Mexico is historically VERY mining friendly, unlike some other countries further south.
Nice action today. Record high volume again. Plenty of accumulating.
Could be a problem...
http://news.yahoo.com/s/nm/20061114/wl_nm/mexico_oaxaca_dc_1
"Old Mexico" raises ugly head in Oaxaca crisis By Frank Jack Daniel
GUELATAO, Mexico (Reuters) - Lauded in the United States for democratic gains and economic stability, Mexico has shaken off much of the baggage of one-party rule that ended when President Vicente Fox came to power in 2000.
But the Mexico of corruption, poverty and brutality, lingers just below the surface in large swathes of the country, ready to burst forth.
The poor southern state of Oaxaca has been gripped for six months by the kind of violent political crisis that many in Washington and Wall Street thought had ended when Mexicans voted the Institutional Revolutionary Party, or PRI, out of the presidency six years ago.
Fox's conservative government has been helpless to stop the conflict between a heavy-handed state governor and leftists, striking teachers and indigenous groups who are seeking to force him from office.
"What we have today is a mosaic of different grades of democracy," said political analyst Irma Mendez. "We have elements of both a modern Mexico and of the most authoritarian and traditional Mexico," she said.
At least a dozen people have been killed in the Oaxaca violence, mostly protesters shot by shadowy gunmen believed by human rights groups to be off-duty police loyal to PRI Gov. Ulises Ruiz.
Rival demonstrations along streets often barricaded by protesters are almost a daily occurrence in Oaxaca's pretty colonial capital, now daubed by graffiti against Ruiz.
Oaxaca borders Chiapas, where in 1994 leftist Zapatista rebels burst from the jungles in a brief but bloody uprising.
"This is the old Mexico, where those who govern have for a century used threats and beatings to decide what happens in the state," said trade union member Jose Antonio Rivera in Oaxaca.
THE HILLS ARE ALIVE
The mountainous state is known to tourists for Pacific surfer hangouts and pre-Hispanic ruins, but it has another, darker face.
The hills behind Oaxaca city's wide valley hide hundreds of villages where generations of corrupt governments have failed to improve grinding poverty, poor schooling and almost non-existent health care.
"We're fed up," said David Cruz, 21, a peasant farmer in Guelatao town, the birthplace of Benito Juarez, Mexico's 19th century reforming president. "It's always the rich first and the poor last of all."
Oaxaca's troubles seem a world away from the shiny glass skyscrapers in Mexico City, where business confidence is high at low inflation, high corporate earnings and another six years of pro-market government under President-elect Felipe Calderon, who takes office on December 1.
A Mexican bank last month began offering 30-year mortgages for the first time in the country's history, testament to confidence in economic stability only 12 years after the "Tequila Crisis" devaluation in the mid-1990s.
But in parts of Mexico, especially southern states like Oaxaca, Chiapas and Guerrero, dirt floors are common, roads are unpaved and jobs scarce and poorly paid.
A 2002 World Bank report concluded those states, unlike northern areas of Mexico, have not reaped the benefits of a 1994 North American free trade pact because of poor roads and telecoms, bad governance and social instability.
"It's made no difference here, more Mexicans have entered the Forbes list, but the poor have got poorer," Rivera said. "They forgot to attend to the huge needs in places like Oaxaca."
Gov. Ruiz, critics say, runs an opaque fiefdom where dissent is answered with police batons and public works cost astronomical sums.
Alejandro Garcia, mayor of Guelatao says state officials hold back money destined for outlying, mainly Indian villages, and hand out inflated works contracts to friends.
"Of every hundred pesos ($10) we are due, a large part gets shared out at the top," said Alejandro Garcia, the mayor of Guelatao.
The movement against Ruiz draws its inspiration from the kind of grass roots protests that recently brought down presidents in Bolivia, and eventually carried President Evo Morales to power there.
The Oaxaca crisis has shown few signs of spreading to other parts of Mexico but a senior aide to President-elect Calderon has described it as the nation's most pressing problem.
"If he manages to resolve the case of Oaxaca, he will have a better chance of resolving challenges at a national level," said mayor Garcia. "If not, he is going to have a very difficult government," he said.
http://biz.yahoo.com/prnews/061114/latu078.html?.v=83
Gold Resource Corporation Commences Drilling at El Aguila Project; Announces Positive Geochemical Survey Results
Tuesday November 14, 8:00 am ET
Geochemical Survey Reveals Significant Anomalies; Confirms and Expands Targets as Drill Begins to Turn at El Aguila
DENVER, Nov. 14 /PRNewswire-FirstCall/ -- Gold Resource Corporation (GRC) (OTC Bulletin Board: GORO - News) today announced it has commenced drilling at its high-grade gold and silver El Aguila project in Oaxaca, Mexico. The objective of the 10,000-meter core drilling program is to delineate and expand the Company's previously discovered shallow, high-grade mineralization, as well as test numerous other high-grade targets. Drilling will continue for approximately six months.
William W. Reid, GRC's president, said, "We are pleased to have commenced our next phase of exploration, which will hopefully lead us to a production decision by early next year. Our recently completed geochemical survey, which was conducted over a limited portion of the property, has returned significant anomalies in several areas, including over a possible high-grade vein discovery found in our previous drilling. This impressive geochemical anomaly extends over a 2km structure that connects the previously intercepted four meters of 54.71 grams per ton (g/t) (1.6 ounces/ton) gold and 701 g/t (20.45 ounces/ton) silver at one end, and the four meters of 1.9 g/t (0.06 ounces/ton) gold and 755 g/t (22 ounces/ton) silver at the other end. We are eager to test this significant target."
About GRC
GRC is a production-oriented mining company pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company is specifically focused on three potential high-grade gold and silver properties in Mexico's southern state of Oaxaca. For more information, please visit GRC's website, located at www.Goldresourcecorp.com.
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding GRC's strategy, future production, future expenses and future liquidity and capital resources. All forward-looking statements in this press release are based upon information available to GRC on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's Form SB-2 filed with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Source: Gold Resource Corporation
Awesome day today. Rose 12.12% on record high volume to new record high prices. I suspect that won't be the last time I say that. This company is finally getting some of the recognition it deserves.
Much upside to come IMO. Check out this great report on the company: http://news.goldseek.com/PeterSpina/1163480400.php
http://www.resourceinvestor.com/pebble.asp?relid=25446
Silver Wheaton Hopes for Big Share of Silver from Penasquito
By Craig Wong
03 Nov 2006 at 09:34 AM EST
VANCOUVER (CP) -- Silver Wheaton Corp. [TSX:SLW] would be ''thrilled'' if the company could acquire half of the silver production from the Penasquito project in Mexico when it comes into production, chief executive Peter Barnes said Friday.
''I'd love to get 100%, but I'm sure that's probably not the most likely scenario,'' Barnes told a conference call with analysts.
Silver Wheaton acquired the right of first refusal on future silver production from the project in September from Goldcorp Inc. [NYSE:GG; TSX:G] following the company's takeover of Glamis Gold Ltd. [NYSE:GLG; TSX:GLG], the owner of the project.
''I think there is a deal to be done there that will be accretive for both sides, but we still have to start discussing it,'' Barnes said.
The Vancouver-based silver company said late Thursday it earned a third-quarter profit of $22.5 million or nine cents per diluted share for the three months ended Sept. 30. That compared with a profit of $6.4 million or four cents per diluted share a year ago.
Revenue in the quarter more than doubled to $41.8 million, up from $18 million in the third quarter of 2005.
RBC Capital Markets analyst Michael Curran, who rated the stock ''sector perform'' with ''average risk,'' suggested the results were below expectations.
''We look for the impact on the shares to be neutral-to-mildly negative, as the company was not able to maintain the ramp up in silver production seen the past three quarters,'' Curran wrote in a note to clients.
''With only 10 million ounces produced thus far this year, our 14.8 million ounce forecast for 2006 looks aggressive.''
Silver Wheaton, which was spun off from Wheaton River Minerals in 2004 as a pure-play silver company, has said it is actively looking to add new long-term silver purchase contracts and or silver exploration, development and production assets.
In addition to the rights to buy all of the silver produced by Goldcorp's Luismin mines in Mexico, Silver Wheaton also holds the rights to buy the silver from Lundin Mining's Zinkgruvan mine in Sweden and 4.75 million ounces of silver annually for 20 years from Glencore International AG and its Yauliyacu mine in central Peru.
The company also recently raised its stake in Bear Creek Mining Corp. to 19.1%.
The company has said it expects to have annual silver sales of approximately 16 million ounces in 2007, increasing to 20 million ounces by 2009.
Shares in the company were up two cents at C$12.27 on the Toronto Stock Exchange.
A couple trades crossing now. My favorite part of the KGC-BGO deal in this PR (http://biz.yahoo.com/prnews/061106/to225.html?.v=38)
"An exploration alliance in Chukotka aimed at developing future gold opportunities."
Perhaps their exploration will lead them to find another company to take over in Chukotka?
From http://www.auruscorp.com/about_intro.asp?sec=about
ABOUT AURUS CORPORATION
Aurus Holding Corporation has acquired all the shares of Mining Corporation Zabaikalgeoprom which has as its mission to build a competitive company in the natural resources extraction industry (gold and rare metals) in the Transbaikalia, Chuloka and China regions of Russia.
The Mining Corporation Zabaikalgeoprom was transformed from the state owned enterprise “Zabaikalgold “and has more than 30 years of operational experience in mining placer and ore gold deposits in regions which include Chukotka, Chita, Buryatuya and Irkutsk.
Any talk on the CC about developments with the Penasquito project?
COEUR D'ALENE, Idaho, Nov. 1, 2006 (PRIMEZONE) -- Timberline Resources Corporation (OTC BB:TBLC.OB - News) today provided an update of its contract drilling subsidiary, Kettle Drilling, Inc. (``Kettle''). For the quarter ending in June 2006, its first as a Timberline subsidiary, Kettle saw record revenues exceeding $2.5-million, with resulting cash flow primarily reinvested into the drilling business. Unaudited results for the quarter ending in September 2006 are very similar to the previous quarter, including roughly $2.6-million in revenue. Kettle specializes in difficult underground drilling services, in support of active mining operations and advanced exploration projects.
Timberline Chairman and CEO John Swallow stated, ``The contract drilling business remains incredibly strong. In addition to our substantial domestic workload, we are rapidly establishing ourselves in Mexico. Kettle's recently launched Mexican subsidiary, World Wide Exploration, S.A. de C.V. (''World Wide``), now has three rigs in service, including a valuable contract with industry leader Industrias Penoles. We have made a significant commitment to expansion into Mexico, with roughly $750,000 invested to date. We are confident of our future in drilling and are committed to growth through reinvestment into additional rigs that can be immediately deployed.''
Kettle Drilling President and founder Doug Kettle added, ``Our long-term strategies of aggressive expansion, drill fleet modernization, and underground focus are paying off with each quarter of steady revenue growth. World Wide is off to a fantastic start in Mexico and, we believe, will ultimately equal our domestic business. With a state of the art U8 APC Deep Hole Computerized Drill, our team at Newmont's Midas Mine set a world record earlier this year, drilling 609 feet in a single 10-hour shift. Working primarily with established producers at active mine sites, our business is less cyclical than for surface drillers at exploration sites, where supplies, infrastructure, and project funding are not as predictable. We are confident in our continued success at Kettle Drilling.''
Kettle's well-established American business features active contracts with Barrick Gold, Newmont Mining, Teck Cominco, Kinross Gold, Kennecott Exploration, Merit Mining, Kobex Resources, and Huntmountain Resources. In Mexico, World Wide has active contracts with Industrias Penoles and Endeavour Silver Corp.
Timberline Resources Corporation is a unique, growth-oriented company that combines positive cash flow from its ownership of Kettle Drilling, Inc. with ``blue sky'' upside from its mineral exploration division. Timberline is a fully-reporting company with fewer than 20 million shares outstanding. Its common stock is quoted on the OTC Bulletin Board under the symbol ``TBLC.''
Certain statements contained in this press release are ``forward looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results. The timing of the SEC registration and review process is inherently uncertain and may be delayed indefinitely, and if completed does not guarantee that Timberline will attract additional market attention or complete any necessary financing in the future, or that the price of Timberline's securities will rise.
Contact:
Timberline Resources Corporation
John Swallow, Chairman & CEO
(208) 664-4859
www.timberline-resources.com
--------------------------------------------------------------------------------
Source: Timberline Resources Corporation
I copy this post from the "Mexican Gold & Silver (MEX)" board
Analyst reports on visit to IPT
http://www.stockhouse.ca/bullboards/viewmessage.asp?no=13441823&t=0&all=0&TableID=0
I just returned from visiting the Impact mine October 22-24, 2006. One of the first things I did was to add even more shares to my PF I was so impressed.
I do belive this company is on the verge of being "discovered".
- this region has some of the most beautiful country I have ever had the pleasure to view. The elevation is around 6,000' - rolling hills with neat homes widely scattered over the region. Quite a bit of small scale farming, agriculture, cattle, sheep etc. As we toured the property it was common to see families leading a burro down mountain paths to various destinations or granny with her loaded shopping bags coming back from a trip to town, hiking up and down these endless mountain trails that would daunt most of us here. On a little jut of land there was a school with basket ball court sitting on a precipice maybe 200' by 300' in dimentions. On 3 sides it was almost a sheer drop-off of a thousand feet or more to the valley below. Mind boggling.
- the townsite located a couple miles from the mine is pretty as a picture and the people very friendly, quite isolated
- the statue in the town square is a miner, these people have been miners for generations and Impact is the only operating mine in the region
- Impact controls the majority of the prospective land in the region,,, for all intents and purposes controls ALL the prospective land base here
- the group I was with included representitives from brokerage firms, a Director of an investment bank in Washington, an investment news writer, all of the senior Mexican mine management along with Fred and Darrell. This is the first "media tour" as Fred was waiting until he was satisfied that most of the operational wrinkles were ironed out before "showcasing" IPT.
- Our experience was over-the-top throughout the entire visit, from the clean accommodations, quality of meals to the beauty of the region and knowledge and hospitality of the Mexican senior management.
Fred and his people put on a first class presentation in every way, all surprises were to the upside.
People and Property
- The senior Mexican (bilingual) geologist seemed to know the property like the back of his hand. We drove over much of the property and on several mountain tops where you could see for miles he would point out a portal or adit and describe the vein(s) and give their history and grades, then he would trace the veins and discuss how they merged or split - again with the grades - down the mountain, across the valley and up the other mountain. This happened time after time from several different vantage points. There was no attempt to pump but it was obvious that his knowledge was impressive and he was extremely proud of their resources.
- A professional mining engineer with (according to Fred) exceptional credentials from Mexico City is on contract to IPT and spends 3-4 days a week on site. Part of his effort goes toward keeping everyone focused on the overall mining "growth plan", supervising senior staff in that they are properly coordinating their activities (quite complex in many ways), and a strong work ethic. This guy gets a lot of respect from everyone.
- Geologist & company Vice-President George Gorzynski spends most of his time on the property. It is obvious that he loves it there and is totally enamoured with the potential and actual value in-the-ground. I am sure he would like nothing better than to explore and drill and keep drilling to uncover what is an endless source of rich silver veins on this 125+ square miles of property. This will likely come in time but for now I believe his focus is more on a detailed study of veins that are the easiest to bring into production to get the mill up to 500tpd, currently around 200tpd. (more on that further down).
Property
It seemed obvious to all of us that there is so much silver here that they will be mining it for decades if not hundreds of more years. The only time this property has not been actively mined in its 400+ years of production is during times of war and revolution. This is because a valley that runs thru the property extends from Acapulco right to Mexico City and one of the mountains/hills is a strategic location during times of war. In our underground tours it was obvious that the rock is relatively easy to work with as there were hardly any rock-bolts needed to stablize workings creating a very safe working environment for the miners.
Production Plans
- if plans stay on course the mill should be up to 300tpd by January 2007, getting to 500tpd depends on various items including permitting and the time needed to drive adits into discovered veins etc. Contrary to what many believe (new to me also) there are some veins here that are exceptionally wide. Two veins we were shown that will be coming into production very soon (if not already) measure between 12 and 25 metres grading between 400-600gpt silver.
Growth Plans
- the company is studing portable mills as there has been many substantial improvements with them. The cost of a complete mill that will produce concentrate looks like it would cost between $200-$400,000.00 for a 100-200tpd mill. Extremely economical. Two reasons for adding portable mills would be:
1/ cheaper to truck a concentrate than raw ore, if oil prices continue to rise this would be add even more value to this
2/ Metallurgy. A different mix of metals would mean different chemicals in the processing procedure (some areas of the property have copper content). Rather than changing the process at their 500tpd operation it may make sense to add production with a portable mill. This could keep going as they explore further out. No time frame here.
Environmental
- no issues with any enviornmental situations I am aware of
Infrastructure Development
- they will be replacing some of the floatation cells over the next few months, will likely cost in the range of a couple hundred thousand dollars.
- the tailings damn capacity will have to be built up prior to getting up to 500tpd. This is quite straight forward and they are studying the engineering to decide the best approach.
Promotional
- The presentation folder/slide show by Fred was exceptional. They have spent quite a lot of effort in organizing their "story". This new presentation will likely form the base of their restructured website which hopefully will be completed in the next few weeks.
- They have been working hard at getting info together for the public. I expect a steady stream of news from the company over the next several months.
Club Med facilities
There are 12 - 15 residences on the mine site in a beautiful setting in great shape. There is a swimming pool, badminton court and a recreation hall (party room) with bar, all owned by Impact. Someone commented that these facilities alone are worth the market value of Impact shares. Many of these residences are used by the senior mine management as a benifit of employment. They have been a major asset in acquiring and keeping some of the best Mexical mining people. Fred commented that miners from Mexico and Peru are among the best in the world and his crew are right at the top.
That's all for now, Fred Davidson deserves a ton of congratulations for what is a success story now ready to be told to the investment world.
Impact's day in the sun has arrived in my opinion.
For disclosure my airfare and accommodations were paid for by the company but no other renumeration. I was not asked nor did I offer to write anything on the company in return for this.
Impact Silver has been my largest holding for almost 2 years.
Doug Beiers
TheSimpleInvestor
News
http://ca.us.biz.yahoo.com/ccn/061026/200610260354266001.html?.v=1
IMPACT Silver Corp.: Test Milling at Zacatecas Processing Plant Commences
Thursday October 26, 7:16 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2006) - IMPACT Silver Corp. ("IMPACT") (TSX VENTURE:IPT - News) is pleased to announce that the Veta Grande processing plant at Zacatecas has begun operations on a test and custom milling basis. During the first week, about 400 tonnes of ore were processed with the goal of achieving 200 tonnes-per-day (tpd) by late November. Currently, material is being processed on a custom milling basis where local small scale miners truck their ore to the plant and are charged a flat rate to process it. In the future, IMPACT plans to augment the custom milling ore with ore from its own properties. IMPACT's share of the net proceeds from the custom milling will be invested in upgrades to the processing plant.
Custom milling serves to give IMPACT a first-hand introduction to local small scale miners and prospectors who deliver ores to the plant from their own mining concessions. IMPACT geologists are now busy examining projects from these miners and prospectors for potential acquisition.
IMPACT currently has a 25% interest in any Net Revenues earned from processing material through the plant. Day-to-day responsibilities for management and operations of the processing plant remain with the vendor until such time as IMPACT completes its obligations under the comprehensive option purchase agreement. (See News Release dated September 28, 2006). Upon exercise and completion of its obligations under the option agreement, IMPACT will have earned a 100% interest in the processing plant and all related cash flows.
IMPACT Silver Corp. is a Tier 1 silver focused mining and exploration company with two producing silver mines at Zacualpan, Mexico; an advanced-stage silver project at Zacatecas, Mexico; and, other projects in the Dominican Republic. Energold Drilling Corp. (TSX VENTURE:EGD - News) owns 6.6 million shares of IMPACT.
On behalf of the Directors of IMPACT Silver Corp.
Frederick W. Davidson, President, CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
Darrell Rader
IMPACT Silver Corp.
Corporate Development
(604) 681-9501
(604) 681-6813 (FAX)
Email: inquiries@IMPACTSilver.com
Website: www.IMPACTSilver.com
--------------------------------------------------------------------------------
Source: IMPACT Silver Corp.
News, looks like more great drill results thanks to Buffalo...
http://biz.yahoo.com/iw/061026/0177351.html
Madison Minerals Inc.: Additional Drill Results From Mt. Kare
Thursday October 26, 6:54 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Oct 26, 2006 -- Madison Minerals Inc. (TSX VENTURE:MMR.V - News)(OTC BB:MMRSF.OB - News) is pleased to report that it has been advised by Buffalo Gold Ltd. ("Buffalo") of additional drilling results from Buffalo's 2006 exploration program on Madison's Mt. Kare Property in Papua New Guinea. In a release issued today, Buffalo reported:
"assay results for drilling at the Western Roscoelite Zone has highlighted additional high-grade intercepts, including:
- 59.1 metres of 10.1 g/t gold in hole MK06-11
- Including 29.0 metres of 17.1 g/t gold
- 16.4 metres of 9.4 g/t gold in hole MK06-66
- Including 9.2 metres of 14.8 g/t gold
Hole MK06-66 is the most north-easterly hole reported by Buffalo to date, being situated in the North-Western Roscoelite Zone along trend to the Red Hill anomaly. Buffalo is very encouraged to see significant mineralization continuing along this trend, and has additional exploration holes planned to the northeast and at Red Hill.
Hole MK06-11 is located in the southeast portion of the South-Western Roscoelite Zone and represents the longest and highest grade intersection drilled by Buffalo in that area.
A summary of new drill intersections can be found below in Table 1., and a map of drill hole locations is posted on Buffalo's website, www.buffalogold.ca.
WRZ Infill Program completed, Additional Drilling to Continue
Buffalo has now completed its previously announced infill diamond drill program that targeted the Western Roscoelite zone (WRZ). The remaining assays from this program are expected to be received by the end of the year, and all results will be used in the Pre-feasibility Study that is due for completion in July 2007.
Following the success of the infill program at the WRZ, Buffalo is now moving to drill test additional objectives both in the vicinity of known mineralization and new exploration target areas. This phase of the drill program will occur between now and March 2007.
The 2006/2007 drill program will continue to drill closely spaced holes in areas of known mineralization to increase the level of confidence in the data and test extents of mineralization. The data will be used in a new resource calculation, and will include results from the drilling at the WRZ, Black Zone, Central Zone and C9 Zone of the Mt. Kare property.
Magnetic Anomalies Provide Drill Targets outside of Mt. Kare Resource Area
The mineralization at the Mt. Kare property and Barrick's adjacent Porgera mine property is associated with a number of magnetic anomalies related to intrusions controlled by major structures. Numerous features outside of the main Mt. Kare resource area can be recognized in the aeromagnetic data covering the Mt. Kare exploration license and have been identified as high priority exploration targets:
North Anomaly - lies completely outside of the known resource, directly north of the North Western Roscoelite Zone where recent drilling returned assay results of 30.0 metres at 19.2 g/t gold in hole MK06-58, and other outstanding results (see prior Buffalo News Releases).
Red Hill - situated north-east of the North Western Roscoelite Zone of the Mt. Kare deposit along the Porgera Transfer Structure, with an outcropping intrusive and associated brecciation, alteration and current artisanal gold workings.
Lubu Creek - lies approximately 7 kilometres from the Mt. Kare deposit and features a magnetic anomaly coincident with known alluvial gold. Previous sampling located mineralised float samples with values up to 500 g/t gold. Currently, Buffalo is undertaking a stream sediment sampling program at the Lubu Creek area to define anomalies and drill targets. This represents Buffalo's first surface exploration program outside of the previously identified ore zone areas.
Pinuni Creek - sits along the Porgera Transfer Structure, covered by gold bearing colluvium with historic artisanal gold workings, and has several associated magnetic anomalies.
Trenching delineates gold zone - drill testing to follow
Buffalo's exploration team has further delineated the gold zone in the vicinity of the Mt. Kare base camp. "Luke's Zone" has been tested by trenching and returned very encouraging results, including:
- 39 metres at 2.4 g/t Au
- Including 17 metres at 3.26 g/t Au
- 12 metres at 2.8 g/t Au (incomplete)
Buffalo plans to drill test this area as part of the exploration drill program.
In addition to the many magnetic and surface anomalies on the Mt. Kare property, Buffalo is planning to drill test its new 100%-owned license area (EL 1427) which is adjacent to the Mt. Kare property.
"We are very keen to test the many anomalies outside of the main resource zone at the Mt. Kare site, as well as our adjoining 100% owned property," commented Buffalo CEO Damien Reynolds. "We believe that these areas have potential for significant additional mineralization which could help us expand the resources at the Mt. Kare project."
--------------------------------------------------------------
Table 1. Summary of Mt. Kare Drill Hole Intersections Received
from September 21, 2006 to October 23, 2006
--------------------------------------------------------------
Drill Hole From To Intercept Gold Silver
No.(i) (m) (m) (m) (g/t) (g/t)
--------------------------------------------------------------
MK06-10 28.0 32.0 4.0 2.9 PENDING
--------------------------------------------------------------
MK06-11 55.0 114.1 59.1 10.1 PENDING
--------------------------------------------------------------
Including 55.0 84.0 29.0 17.1 PENDING
--------------------------------------------------------------
MK06-26 No significant intersections PENDING
--------------------------------------------------------------
MK06-44 173.0 196.0 23.0 2.39 PENDING
--------------------------------------------------------------
MK06-48 0.0 54.8 54.8 1.27 PENDING
--------------------------------------------------------------
MK06-64 No significant intersections PENDING
--------------------------------------------------------------
MK06-65 3.7 18.5 14.8 3.74 PENDING
--------------------------------------------------------------
MK06-66 83.75 100.15 16.4 9.4 PENDING
--------------------------------------------------------------
Including 91.0 100.15 9.15 14.8 PENDING
--------------------------------------------------------------
MK06-67 163 200 37.0 0.71 PENDING
--------------------------------------------------------------
Including 179.0 186.0 7.0 1.35 PENDING
--------------------------------------------------------------
(i)Holes are not drilled in numerical or sequential order.
True widths from the drill intersections have not yet been estimated. All samples were analysed for gold by PT Intertek Utama Services in Jakarta, part of an internationally recognized lab testing group with ISO 17025 accreditation at the Jakarta facility. Samples were analysed using a 50g fire assay with AA finish for gold and an aqua regia digestion, ICP-OES finish for silver.
Mr. Brian McEwen, P.Geol., President and COO of Buffalo, is the qualified person for the Mt. Kare project and has approved the contents of this news release."
On behalf of the Board of Directors of MADISON MINERALS INC.
Chet Idziszek, President
Cautionary note to U.S. investors - The United States Securities and Exchange Commission ("SEC") permits mining companies in filings with the SEC to disclose only those mineral deposits that a company can economically and legally extract or produce. The company uses certain terms in this news release, such as "inferred resource", that the SEC guidelines strictly prohibit from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure contained in the company's Form 20-F registration statement, File No. 000-29250. The company's filings are available on the SEC's website at http://www.sec.gov/edgar.shtml. This news release contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents files with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this press release.
Contact:
Contacts:
Madison Minerals Inc.
David Scott
Investor Relations
(604) 331-8772
(604) 331-8773 (FAX)
Email: dscott@mine-tech.com
Website: http://www.madisonminerals.com
--------------------------------------------------------------------------------
Source: Madison Minerals Inc.
Take a good close look. If the price of silver is going where I think it is going than this company is sure to profit big time!
Yes indeed wrongjoe. This company is but a month old and just look at the properties they have in addition to great management! #1 in my book for a good company is proven management. #2 is good properties. Just take a look at this property: http://www.goldresourcecorp.com/project-ea.php
1 plus 2 equals I bought some goro today.
Hi all. Starting this board to see if there is any interest out there in this stock. Updates will come in the future if wanted.
Hi all. Starting this board to see if there is any interest out there in this stock. Updates will come in the future if wanted.
Hi all. Starting this board to see if there is any interest out there in this stock. Updates will come in the future if wanted.
Hi all. Starting this board to see if there is any interest out there in this stock. Updates will come in the future if wanted.
If true then lucky for me, someone new and looking to get in. Do you expect this to continue for a few days or just today?
Another question... Yahoo lists the float at 94.93 million at http://finance.yahoo.com/q/ks?s=IHDR.OB
Perhaps many of these are restricted shares and that is the cause for the difference between their float and your float of 39M?
Yahoo also lists some holders at http://finance.yahoo.com/q/mh?s=IHDR.OB
Not sure if they are included in your list or not so thought I'd offer it.
What, no night school in addition to high school during the day? Too bad you could use the extra help.
Wow someone wants in big time before tomorrow and is willing to pay up! Anyone with level II that can share if all this buying is coming from one source or many?
Is Aurus attending?
Good point. It may have been's AURC's demand to have "an initial US$2 million upon the company's listing on the Frankfurt Stock Exchange." I had assumed it was a demand from NewConsult Ltd.
I thought they were getting listed in Frankfurt simply to satisfy the terms of the recently announced offering?
"According to the offering, NewConsult Ltd. will proceed to fund an initial US$2 million upon the company's listing on the Frankfurt Stock Exchange, which is expected by the middle of October and will continue to fund the company's operation for a period of 48 months. NewConsult Ltd. has also received a right of first refusal for any subsequent funding of up to US$50,000,000."
I suppose it won't hurt as far as opening new windows though...
I don't think you picked up on the sarcasm throughout my last post, but thanks for the welcome back anyways.
It's nice to see AURC on the move again, both in terms of the share price going back up and in terms of getting some news after silence for 4 months. If only their PRs were a little more detailed I would be one happy man.
I'm too lazy to figure out how to post a chart on here again, but on a 10 month weekly chart at stockcharts.com the MACD recently turned green for the first time and the green line crossed above the red line. I'm no TA expert but I think that is probably a good thing and indicates MUCH more gains in the near future, especially if this volume sticks around.
Has anyone spoken to Parkin lately? A friend of mine is also invested here and told me that recent attempts both by phone and email to contact him have gone unanswered. I'm sure he is extremely busy getting these deals together, but its going to be very hard to get new investors and keep old ones if no one answers the phone or email.
I see that IHDR has been banned on this board? Can anyone inform me of the story behind that? I remember him being an informed guy who had some great posts. It seems weird a guy with over 100 person marks would be banned.
Sorry if any of this is old news, I haven't read many posts from the past 4 months.
GLTA
glad to see this board has moved on from the childish name calling and overzealous deletion of posts that caused me to stop reading it in the first place