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Another good day, closed at .44. It looks to me like CMM is on the radar screen now. With gold pouring soon and a goal of 1200 tons per day targeted for May CMM is looking really good. :)
Closed at .41 today. It's creeping up there. A gold pour will send this stock for a ride.
Nice close today, .395. I think this stock is ready to make another big move. It is very possible gold will be pouring in late April but for sure in May....
Quite a nice chart. I bought in huge in late 2008 after reading the independently written Lamague due diligence report... I think CMM is going waaaay higher as they are very close to putting the Lamaque mine back into production. Should be doing 1200 tons per day by summer. They have a small producing mine in Peru, too. It does about 20,000 oz a year but could do more with some upgrades.
Century Intersects 100.5 g/t Au Over 1.69 Meters in Bedard Dyke at Lamaque Gold Mine, Val-D'or, Quebec
3/15/2010 9:03:18 AM - Market Wire
BLAINE, WASHINGTON, Mar 15, 2010 (MARKETWIRE via COMTEX News Network) --
Century Mining Corporation ("Century" or the "Company") (TSX VENTURE: CMM) is pleased to announce results of surface diamond drilling at the Bedard Dyke at the Lamaque Gold Mine. The recently completed drill program was designed to test the extent of the dyke, as well as the grade. A total of 8 holes (1,625 meters) were completed during February, 2010. Results from the final three holes are still pending.
"The Bedard Dyke drilling was successful in delineating the zone for mining planning, geotechnical engineering and future mine development in 2010. The results continue to show the high grade mineralization and upside potential of the Lamaque mine complex, as the Company continues to build the reserves and resources at the Lamaque gold project. Existing proven and probable reserves and measured and indicated resources at Lamaque exceed 2.4 million ounces of gold," commented Margaret Kent, President & CEO.
About the Bedard Dyke
The Bedard Dyke, which strikes southwest and dips steeply to the south, is located at the west end of the Sigma open-pit. The Bedard Dyke outcrops in the open pit and will be an important ore source during the startup of the Lamaque Mine. The Bedard Dyke is typical of the mineralized dykes found at the Lamaque mine, where the mineralization is contained both in flats within the steeply south dipping dyke and within flats hosted by volcanic rocks adjacent to the dyke. The current drilling program was successful in delineating and confirming the spatial location of the dyke for mine planning and future development.
The current drilling intersected the Bedard Dyke at depths varying between 18 and 228 meters below topographic surface. Interpretation of the dyke, utilizing current and historic drill holes is currently being completed and indicates that the Bedard Dyke has a minimum strike length of 210 meters and dips approximately 80 degrees to the south. The dyke pinches, swells and bifurcates both along strike and down dip. Dyke widths vary from approximately 2 meters thick on the western end, to 10 meters thick on the eastern end near the Sigma open-pit.
Sections and plan maps are available on the website (www.centurymining.com) for holes 2655-1A, 2700-1 and 2700-2. Please see table below for drillhole detail and assays:
------------------------------------------------------------------------- True Grid From To Width GradeHole # Azimuth Inclination (m) (m) (m) (g/t Au)------------------------------------------------------------------------- 64.08 64.92 0.73 4.29 -------------------------------------- 67.03 69.01 1.40 7.722655-1A 0 -75 -------------------------------------- 71.99 72.91 0.70 5.10 -------------------------------------- 75.59 76.60 0.87 10.10------------------------------------------------------------------------- 60.62 63.15 2.19 2.89 -------------------------------------- 69.19 75.01 5.28 9.562700-1 0 -65 -------------------------------------- 77.85 79.46 1.32 3.61 -------------------------------------- 80.77 83.30 1.94 3.06------------------------------------------------------------------------- 71.60 72.02 0.40 2.29 -------------------------------------- 192.63 193.55 0.86 3.172700-2 0 -80 -------------------------------------- 199.74 200.44 0.54 4.19 -------------------------------------- 203.51 204.09 0.33 2.14------------------------------------------------------------------------- 47.64 49.87 2.15 2.55 -------------------------------------- 53.04 55.08 1.92 10.06 -------------------------------------- 58.67 59.28 0.61 6.14 --------------------------------------2610-7 65 -45 63.92 65.87 1.69 100.50 -------------------------------------- 80.35 81.23 0.87 7.63 -------------------------------------- 83.21 84.00 0.72 25.20 -------------------------------------- 97.44 98.42 0.88 4.84------------------------------------------------------------------------- 59.10 62.18 2.67 14.17 -------------------------------------- 64.08 64.92 0.73 4.29 -------------------------------------- 67.03 69.01 1.40 7.72 --------------------------------------2610-8 79 -67 Incl. 68.24 68.88 0.45 25.1 -------------------------------------- 80.44 81.17 0.66 38.2 -------------------------------------- 154.35 154.99 0.37 6.66 -------------------------------------- 157.64 159.78 1.85 2.79-------------------------------------------------------------------------
Ross Burns P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Samples were assayed at ALS Chemex in Val d'Or using standard fire assay techniques with a gravimetric finish.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Margaret M. Kent, President & CEO
Caution Concerning Forward-Looking Information
This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and with Canadian securities regulatory authorities and available at www.sedar.com.
While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
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: Century Mining Corporation Peter A. Ball Director of Investor Relations (360) 332-4653 or Toll Free: (877) 284-6535 pball@centurymining.com www.centurymining.com
SOURCE: Century Mining Corporation
mailto:pball@centurymining.com http://www.centurymining.com
Proven Management? If Peggy goes on another acquisition spree like the last ones, there will be little left for common shareholders.
Yup, Peggy has had her moments and I'm no fan. However, she' not in total control anymore and is losing COB status. The new investors, Scola and Finskiy, want results and I believe they are going to get them. Just go and read the independently written Lamaque due diligence report. Lamaque is going to be highly profitable in spite of Peggy and that will drive the share price way higher.
The US Government has indeed sold off their massive supply of Silver. They used it to keep their fiat currency looking good. They did the same with gold. Now that all the PMs are gone they simply short the metal with their free money. It's a no lose proposition. Short gold and silver via their bankster partners and if you ever have to cover they simply print up some more money and away they go. It is virutally impossible to beat their system. Only two ways to do so. First, the COMEX would have to default but that would mean people would have to take delivery, which the majority do not. The second is for the US Dollar to fail, which it might, some day......I suppose they could change the rules on the COMEX so they were fair but considering who is in control of making the rules and the fact that the rules favour their position, it just won't be happening anytime soon...
Never asked and I've seen that before where it wasn't an issue. I did ask about PPs and they said they were done with them.
I still have every share. I actually bought a bunch more at 15 cents after I sold another company I had. This has the potential to completely change my life....
I've held Century since 2005 and I've seen it all, too.... I loaded up in a large way around 2 cents at their low point. This has been a very good return but I don't think we're anywhere near where it's going. Just read the independent Lamaque due diligence report....Wow! Couple this with the fact that they have access to 60 million bucks to bring Lamaque back into production and it gets very interesting. The two new investors, Maxim Finskiy and Fran Scola, have brought a new degree of credibility to Century, not to mention a lot of money. There is a high degree of probability that Century will be pouring gold in April and that they will have their mill running at 1200 tons per day in May. If so, this stock is going waaaaaaay higher..
They will dilute and they can do it at the drop of a hat. It's inevitable--especially now that their cash position has evaporated.
I digress. I found out US Silver has unlimited authorized. That ALWAYS means dilution. No doubt about it in my mind that it will happen
I don't believe this at all. My discussions with the company have been completely contrary to these opinions. The PP for the shaft was necessary but I've been told that is the end of it.
Less than 75% of the gold and silver mined from the Oro Fino Vein system on War Eagle Mountain was recovered with the old and crude mining methods.
Source...
http://www.goldandsilvermines.com/stunnel.htm
SFMI fully capitalized into production.
Very large short position on SFMI.
SFMI is now off the Pink Sheets.
Plenty of good news on the way including the start up of the new mill.
Just pick up the phone and give them a call. They do answer and I've asked many of the questions you have. You will get an answer and then you can post it here. Simple as that.
Century Provides February Progress Update for Lamaque Gold Project
3/1/2010 9:03:35 AM - Market Wire
BLAINE, WASHINGTON, Mar 01, 2010 (MARKETWIRE via COMTEX News Network) --
Century Mining Corporation ("Century" or the "Company") (TSX VENTURE: CMM) is pleased to provide a progress update at its 100% owned Lamaque gold project located in Val-d'Or, Quebec, Canada. The Company is fully financed for the reopening of the Company's Lamaque gold project.
To date, the Company has rehired 19 staff and 69 hourly employees, and is well on its way to advance the Lamaque gold project to production in the second quarter of 2010. The underground development crew is making excellent progress at the Lamaque #2 portal by re-opening the existing workings and advancing towards the first ore zone for extraction and stockpiling in March 2010. Recent activity includes commencement of the slashing of the underground workings, installation of new ventilation infrastructure, formation of a new health and safety committee, and mobilization of equipment and supplies to the first mining zone, #90 stope, to commence mining on Monday, March 1, 2010.
Other notable items include the commitment of approximately $7.0 million for new and near-new underground mining equipment for delivery commencing March 15th, 2010. New lease lines are being put in place to support the acquisition of this equipment, which includes a combination of low profile scoops and jumbo drills, as well as mine trucks and miscellaneous mine equipment. The equipment shop facility is full of existing equipment which is being readied for the start-up of mining the first week of March 2010.
As indicated, the power is on throughout the minesite and underground, and the Company continues to complete the modifications on the crusher system at the Lamaque mill facility. Work completed to date at the mill facility includes the inspection (and repair where necessary) of all grinding mill bearings, inspection of all pumps and motors, review of the water circuit, activation of the fire system, continued cleaning and refurbishing of other mill equipment where necessary, and the full review of the PLC (programmable logic control) computer mill operating system. The current jaw crusher is being dismantled and removed, and the new crushers have been ordered and will be in transit to the site by the first week of March. Final engineering is near completion for the installation of the new jaw and new cone crushers, and the mill refurbishment is on schedule.
An eight-hole exploration and definition drill program commenced on the Bedard Dyke during the week of January 25th, 2010, and was completed on February 17, 2010, with visible gold identified in each of the eight holes. Assays are pending and will be released when completed. Information from the drill program is currently being used to complete the block model for the dyke and to finalize the mine planning on the area for the upcoming development program in the Bedard Dyke zone. The Company will be displaying drill core from the recent drill program at the upcoming Prospectors and Developers Association of Canada (PDAC) conference from March 7 -10, 2010 at our booth location #2126. The Company is also reviewing tenders for an upcoming 150,000 foot (45,700+ meter) underground drill program at Lamaque over a three-year period.
The Company's Board of Directors visited the Lamaque site February 22 and 23, and is pleased with the progress to date. Senior management continues to focus its energy on the Lamaque mine development and is spending additional time at the site, where necessary, to ensure a smooth transition to production. The Company continues to recruit the additional employees needed to bring the Lamaque mine back to full production, and Century also has ten dedicated technical staff located in the corporate office working on additional reserve and resource delineation and project engineering.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Margaret M. Kent, President & CEO
Century Provides February Progress Update for Lamaque Gold Project
3/1/2010 9:03:35 AM - Market Wire
BLAINE, WASHINGTON, Mar 01, 2010 (MARKETWIRE via COMTEX News Network) --
Century Mining Corporation ("Century" or the "Company") (TSX VENTURE: CMM) is pleased to provide a progress update at its 100% owned Lamaque gold project located in Val-d'Or, Quebec, Canada. The Company is fully financed for the reopening of the Company's Lamaque gold project.
To date, the Company has rehired 19 staff and 69 hourly employees, and is well on its way to advance the Lamaque gold project to production in the second quarter of 2010. The underground development crew is making excellent progress at the Lamaque #2 portal by re-opening the existing workings and advancing towards the first ore zone for extraction and stockpiling in March 2010. Recent activity includes commencement of the slashing of the underground workings, installation of new ventilation infrastructure, formation of a new health and safety committee, and mobilization of equipment and supplies to the first mining zone, #90 stope, to commence mining on Monday, March 1, 2010.
Other notable items include the commitment of approximately $7.0 million for new and near-new underground mining equipment for delivery commencing March 15th, 2010. New lease lines are being put in place to support the acquisition of this equipment, which includes a combination of low profile scoops and jumbo drills, as well as mine trucks and miscellaneous mine equipment. The equipment shop facility is full of existing equipment which is being readied for the start-up of mining the first week of March 2010.
As indicated, the power is on throughout the minesite and underground, and the Company continues to complete the modifications on the crusher system at the Lamaque mill facility. Work completed to date at the mill facility includes the inspection (and repair where necessary) of all grinding mill bearings, inspection of all pumps and motors, review of the water circuit, activation of the fire system, continued cleaning and refurbishing of other mill equipment where necessary, and the full review of the PLC (programmable logic control) computer mill operating system. The current jaw crusher is being dismantled and removed, and the new crushers have been ordered and will be in transit to the site by the first week of March. Final engineering is near completion for the installation of the new jaw and new cone crushers, and the mill refurbishment is on schedule.
An eight-hole exploration and definition drill program commenced on the Bedard Dyke during the week of January 25th, 2010, and was completed on February 17, 2010, with visible gold identified in each of the eight holes. Assays are pending and will be released when completed. Information from the drill program is currently being used to complete the block model for the dyke and to finalize the mine planning on the area for the upcoming development program in the Bedard Dyke zone. The Company will be displaying drill core from the recent drill program at the upcoming Prospectors and Developers Association of Canada (PDAC) conference from March 7 -10, 2010 at our booth location #2126. The Company is also reviewing tenders for an upcoming 150,000 foot (45,700+ meter) underground drill program at Lamaque over a three-year period.
The Company's Board of Directors visited the Lamaque site February 22 and 23, and is pleased with the progress to date. Senior management continues to focus its energy on the Lamaque mine development and is spending additional time at the site, where necessary, to ensure a smooth transition to production. The Company continues to recruit the additional employees needed to bring the Lamaque mine back to full production, and Century also has ten dedicated technical staff located in the corporate office working on additional reserve and resource delineation and project engineering.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Margaret M. Kent, President & CEO
Like I said, another misinformed alias making posts of fiction and masquerading them as fact. The amount of unsubstantiated BS on this board is incredible. Once an individual takes the time to separate fact from fiction it soon becomes obvious there are people with a negative agenda.
Another misinformed alias making posts of fiction and masquerading them as fact. Just so you know the mill will start at 30 tons per days while they are tuning it. Once optimum recoveries are established the throughput will be increased to 100 tons per day. Over time this will also be increased. Also, the mill should be operation in the next few weeks. It's all coming together and there isn't much you can say to stop it. :)
Everything is cool.... Monday there will be news. Everything is on track and Century should produce 45,000 ounces of gold at Lamaque this year. The share price will no doubt start to appreciate as we approach the start of production in June.
Its not obscene if like 98% of all other pinksheets they go down, like seriously down.
Pushing a stock down illegally is obscene in my view.
Since illegal naked shorters don't report, its tough to get to the nuts and bolts of the situation.
Any system that doesn't require reporting is ripe for corruption.
You do understand the level of manipulation on these boards?
This is the first pink sheet stock I have ever knowingly purchased. I did buy PCFG at one point and it was demoted to the Pinks and suffered the death spiral financing scam. It's now basically worthless. The vast majority of the shares I own are on the TSX Venture in Canada.
I have an understanding of the manipulation on these boards but I can't say I know with any degree of certainty the level of manipulation present.
On the other hand, when you have a stock with merit, like this one, it tends to throw a monkey wrench into the naked shorting process.
Yes, merit... Exactly why I bought the stock, and very timely, too... As for this stock being shorted 40 million I have my doubts. Covering 40 million shares would drive this stock WAAAY up. Isn't it possible if there was a naked short position of 40 million they would just default? Heck, it's all corrupt anyway so why not one more avenue to abuse?
I admit its very complicated and I won't say I fully understand it all myself, but I do have a healthy respect for the activity. And so should everyone.
It is complicated but I would venture a guess that the most complicated piece to understand is why the government allows the corruption to continue?
40 million shares seems like an obscene amount of shares to be short. If this is the case how could they possibly cover? Since they are in the Cayman islands what recourse does the exchange have to ensure the shares are re-purchased? I understand shorting but it's suicide to short 40 milion shares if you have to cover, is it not? Could they just declare bankruptcy and not cover? Then what?
I guess I just don't quite get this.......
if we have 40 mil shares short, that is going to put this a lot higher than a quarter, imo. We shall see....
How was the 40 million short position arrived at and is there a way to confirm it? Even if it can be deduced?
Did you know?
Quote:
"The largest silver nugget ever produced in the United States, at 8,000 ounces, came from the POORMAN MINE. The POORMAN MINE is one of the properties that Silver Falcon Mining Inc. is developing on War Eagle Mountain. It was said of the ore from the POORMAN MINE that, "As jelly is to bread, so is silver to this rock"."
I was being facetious... Very good opportunity here. This is not going to .0060, ever. You should do some research about what is coming down the pipes in the very near future.....
I must be stupid! I took a position this week as I don't believe there is much downside risk.... but the upside potential is large :)
Questions...
1. How many tons per day is the mill? One document I read said 30 tons per day and another one I read said 100 tons per day. So....
2. Does anyone know how SFMI plans on raising the 6.5 million dollars for the underground operations? A PP at 10 cents would add 65 million shares plus another 32 million warrants, given a half warrant.
3. What are the grades in the tailings SFMI is going to process?
4. How much cash on hand does SFMI have?
Yes, at least the shares are being picked up as fast as they are sold. Hopefully, at some point this merry go round will turn into a rocket ship.....
An endless supply of sellers.....
Century Intersects 35 g/t Au Over 7.4 Feet at Bedard Dyke
Jan 17, 2010 12:00 ET
Century Intersects 35 g/t Au Over 7.4 Feet at Bedard Dyke at Lamaque Gold Project, Val-D'Or, Quebec
BLAINE, WASHINGTON--(Marketwire – Jan. 17, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce results of surface diamond drilling at the Bedard Dyke within the Lamaque gold project. The current drill program is designed to test the extent of the dyke, as well as the grade. A total of 21 holes (10,765 ft) were planned but only 13 (6,748 ft) have been completed to-date due to an interruption in the drill program. The Company is currently reviewing tenders for the completion of the drill program and plans to commence drilling of the remaining 8 holes (approximately 4,000 ft) in the first quarter of 2010.
"The Bedard Dyke continues to show significant exploration promise and the results are very exciting. Century looks forward to continue building the reserves and resources at the Lamaque gold project, where currently existing reserves and measured and indicated resources exceed 2.4 million ounces of gold. The Lamaque mine also contains approximately 3.1 million ounces of inferred resources that the Company will look to upgrade in 2010 and beyond. The Lamaque gold project is moving forward, and with the recent closing of our $60.75 million financing, we look to be pouring gold for many years at Val-d'Or, Quebec," commented Margaret Kent, President & CEO.
About the Bedard Dyke
The Bedard Dyke, which strikes SW and dips steeply to the south, is located at the west end of the historical Sigma open-pit, and runs beneath the adjacent Highway 117. The Bedard Dyke outcrops in the open pit and will be an important ore source during the startup of the Lamaque Mine. The Bedard dyke is typical of the mineralized dykes found at the Lamaque mine. Mineralization is contained both in flats within the steeply south dipping dyke and within flats hosted by volcanic rocks adjacent to the dyke. The current drilling program has delineated the spatial location of the dyke, however the best method for determining the grade of the dyke will be to drill it down dip and along strike. This method of drilling will ensure that all flats within the dyke are intersected by the drill holes.
The current drilling intersected the Bedard Dyke at depths varying between 61 and 748 feet below topographic surface. Interpretation of the dyke, utilizing current and historic drill holes is currently being completed and indicates that the Bedard Dyke has a minimum strike length of 705 feet and dips approximately 80 degrees to the south. The dyke pinches, swells and bifurcates both along strike and down dip. Dyke widths vary from approximately 6 feet thick on the western end to 30 feet thick on the eastern end near the Sigma Pit.
Please see table below for drillhole detail and assays:
Hole Number Azimuth Dip Length (ft) From (ft) To (ft) Downhole Intersect (ft) Grade g/t Au
2610-1 0 -75 305.1 110.7 112.0 1.3 8.59
2610-1 117.3 121.2 4.0 14.35
2610-1 243.5 249.3 5.8 13.74
2610-2 180 -89 462.6 207.4 217.4 10.1 11.19
2610-2 229.0 238.0 9.1 3.19
2610-2 321.9 347.5 25.6 2.73
2610-3 285 -45 310 "Negligible"
2610-4 249 -73 600.5 382.3 393.7 7.8 3.73
2610-5 267 -45 354.33 "Negligible"
2610-6 249.5 -62 748.03 "Negligible"
2655-2 0 -90 600.39 202.0 205.0 3.0 2.27
2655-2 223.4 225.5 2.1 12.15
2745-1 0 -57 403.54 188.7 196.1 7.4 35.00
2745-1 267.6 269.5 1.9 8.92
2745-2 0 -80 748.83 553.0 555.6 2.6 6.84
2745-2 657.0 660.9 3.9 2.44
2745-2 663.2 671.0 7.8 6.98
2745-3 0 -72 531.5 224.7 226.3 1.6 5.11
2790-1 0 -50 374.02 178.3 188.1 9.8 10.72
2790-1 248.6 249.9 1.3 24.00
2790-2 0 -66 511.8 266.3 267.8 1.6 8.87
2790-3 0 -78 797.24 625.4 627.4 2.0 5.55
2790-3 639.8 651.7 11.9 5.59
2790-3 662.6 667.4 4.8 3.45
The follow up program in the first quarter of 2010 will be oriented to drill the dyke down its dip and along strike. Five of the holes will be drilled with lengths varying from 500 to 1000 feet and dips from -45 to -80 degrees. This will allow the dyke to be tested along a vertical extent ranging from 350 to 915 feet below topographic surface. Once the drilling has been completed and all assays returned, the Bedard Dyke will be remodeled utilizing Vulcan software to determine additional measured and indicated resources and proven and probable reserves that are hosted within the dyke.
The current drill program is designed to test the extent of the dyke, as well as the grade. In addition, specific holes have been geotechnically logged to determine the integrity of the crown pillar for the proposed underground mining of the Bedard Dyke. The geotechnical studies on the crown pillar are being completed by Golder Associates. Golder has completed the field engineering studies on the core and will provide a report and recommendations for the design of the crown pillar of the Bedard dyke.
Ross Burns P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release., The drill program was completed under the supervision of Wolf Schleiss, P.Geo. Samples were assayed at ALS Chemex in Val d'Or using standard fire assay techniques with a gravimetric finish.
About Century Mining Corporation
Century Intersects 35 g/t Au Over 7.4 Feet at Bedard Dyke
Jan 17, 2010 12:00 ET
Century Intersects 35 g/t Au Over 7.4 Feet at Bedard Dyke at Lamaque Gold Project, Val-D'Or, Quebec
BLAINE, WASHINGTON--(Marketwire – Jan. 17, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce results of surface diamond drilling at the Bedard Dyke within the Lamaque gold project. The current drill program is designed to test the extent of the dyke, as well as the grade. A total of 21 holes (10,765 ft) were planned but only 13 (6,748 ft) have been completed to-date due to an interruption in the drill program. The Company is currently reviewing tenders for the completion of the drill program and plans to commence drilling of the remaining 8 holes (approximately 4,000 ft) in the first quarter of 2010.
"The Bedard Dyke continues to show significant exploration promise and the results are very exciting. Century looks forward to continue building the reserves and resources at the Lamaque gold project, where currently existing reserves and measured and indicated resources exceed 2.4 million ounces of gold. The Lamaque mine also contains approximately 3.1 million ounces of inferred resources that the Company will look to upgrade in 2010 and beyond. The Lamaque gold project is moving forward, and with the recent closing of our $60.75 million financing, we look to be pouring gold for many years at Val-d'Or, Quebec," commented Margaret Kent, President & CEO.
About the Bedard Dyke
The Bedard Dyke, which strikes SW and dips steeply to the south, is located at the west end of the historical Sigma open-pit, and runs beneath the adjacent Highway 117. The Bedard Dyke outcrops in the open pit and will be an important ore source during the startup of the Lamaque Mine. The Bedard dyke is typical of the mineralized dykes found at the Lamaque mine. Mineralization is contained both in flats within the steeply south dipping dyke and within flats hosted by volcanic rocks adjacent to the dyke. The current drilling program has delineated the spatial location of the dyke, however the best method for determining the grade of the dyke will be to drill it down dip and along strike. This method of drilling will ensure that all flats within the dyke are intersected by the drill holes.
The current drilling intersected the Bedard Dyke at depths varying between 61 and 748 feet below topographic surface. Interpretation of the dyke, utilizing current and historic drill holes is currently being completed and indicates that the Bedard Dyke has a minimum strike length of 705 feet and dips approximately 80 degrees to the south. The dyke pinches, swells and bifurcates both along strike and down dip. Dyke widths vary from approximately 6 feet thick on the western end to 30 feet thick on the eastern end near the Sigma Pit.
Please see table below for drillhole detail and assays:
Hole Number Azimuth Dip Length (ft) From (ft) To (ft) Downhole Intersect (ft) Grade g/t Au
2610-1 0 -75 305.1 110.7 112.0 1.3 8.59
2610-1 117.3 121.2 4.0 14.35
2610-1 243.5 249.3 5.8 13.74
2610-2 180 -89 462.6 207.4 217.4 10.1 11.19
2610-2 229.0 238.0 9.1 3.19
2610-2 321.9 347.5 25.6 2.73
2610-3 285 -45 310 "Negligible"
2610-4 249 -73 600.5 382.3 393.7 7.8 3.73
2610-5 267 -45 354.33 "Negligible"
2610-6 249.5 -62 748.03 "Negligible"
2655-2 0 -90 600.39 202.0 205.0 3.0 2.27
2655-2 223.4 225.5 2.1 12.15
2745-1 0 -57 403.54 188.7 196.1 7.4 35.00
2745-1 267.6 269.5 1.9 8.92
2745-2 0 -80 748.83 553.0 555.6 2.6 6.84
2745-2 657.0 660.9 3.9 2.44
2745-2 663.2 671.0 7.8 6.98
2745-3 0 -72 531.5 224.7 226.3 1.6 5.11
2790-1 0 -50 374.02 178.3 188.1 9.8 10.72
2790-1 248.6 249.9 1.3 24.00
2790-2 0 -66 511.8 266.3 267.8 1.6 8.87
2790-3 0 -78 797.24 625.4 627.4 2.0 5.55
2790-3 639.8 651.7 11.9 5.59
2790-3 662.6 667.4 4.8 3.45
The follow up program in the first quarter of 2010 will be oriented to drill the dyke down its dip and along strike. Five of the holes will be drilled with lengths varying from 500 to 1000 feet and dips from -45 to -80 degrees. This will allow the dyke to be tested along a vertical extent ranging from 350 to 915 feet below topographic surface. Once the drilling has been completed and all assays returned, the Bedard Dyke will be remodeled utilizing Vulcan software to determine additional measured and indicated resources and proven and probable reserves that are hosted within the dyke.
The current drill program is designed to test the extent of the dyke, as well as the grade. In addition, specific holes have been geotechnically logged to determine the integrity of the crown pillar for the proposed underground mining of the Bedard Dyke. The geotechnical studies on the crown pillar are being completed by Golder Associates. Golder has completed the field engineering studies on the core and will provide a report and recommendations for the design of the crown pillar of the Bedard dyke.
Ross Burns P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release., The drill program was completed under the supervision of Wolf Schleiss, P.Geo. Samples were assayed at ALS Chemex in Val d'Or using standard fire assay techniques with a gravimetric finish.
About Century Mining Corporation
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