Bard Ventures’ Expanding Moly Universe

By Darryl Kelley

Higher grades, longer intercepts, and further step-outs all add up to the inevitability of Bard Ventures’ (TSX.V:CBS), rather than the possibility, of a major molybdenum deposit. The Lone Pine project, located 15 kilometers outside of Houston British Columbia, is intersected by Highway 16 as well as a natural gas pipeline and major power transmission lines, making the property an extremely well serviced location for a mine.

Ongoing drilling has now delineated a large, high-grade moly deposit that covers 4 zones measuring at least 1.5 km in length and half a kilometer wide.

Bard is in the process of earning a 100% interest in the property in exchange for 545,000 shares and $75,000 in exploration, as well as some minor advance royalty payments.


Drilling Results Simmarized

Final assay results have been received and interpreted from drill holes BD-08-26, BD-08-27 and BD-08-28.

The significant intervals for hole BD-08-28 are tabulated below:

Drillhole No. Total Depth (m) From (m) To (m) Interval (m) Mo% MoS2%
BD-08-28 843.34 59.00 789.00 730.00 0.10 0.17
Including 297.00 335.00 38.00 0.15 0.25
Including 377.00 549.00 172.00 0.15 0.25

Hole BD-08-28: Drill hole BD-08-28 was designed to follow up the Northwest trend of the higher grade molybdenum mineralization intitially encountered in drill hole BD-08-25. Drill hole BD-08-25 intersected 730.9m of 0.10% Molybdenum including 130.1m of 0.20% Molybdenum. BD-08-28 was collared 50 meters to the northwest and collared into andesitic rocks through to approximately 110m before encountering the favourable alaskite intrusive. Alaskite continued through to approximately 771m and was shutdown in the Quartz Feldspar Porphyry at 843.34m.

The significant intervals for holes BD-08-26 and 27 are tabulated below:
Drillhole No. Total Depth (m) From (m) To (m) Interval (m) Mo% MoS2%
BD-08-26 592.34 109.00 585.00 476.00 0.05 0.08
Including 109.00 175.00 66.00 0.06 0.10
Including 369.00 555.00 186.00 0.06 0.10
Including 391.00 423.00 32.00 0.10 0.17

BD-08-27 788.52 585.00 788.52 203.52 0.06 0.10
Including 749.00 763.00 14.00 0,10 0,17

Hole BD-08-26: Drill hole BD-08-26 was designed to follow up the favourable results of BD-17-16, 100m to the southwest. BD-08-26 collared into Andesitic rocks before quickly becoming an intercalated package of andesite and alaskite up to 353.00m. From 353.00m to the end of hole at 592.34m, moderately mineralized andesite was encountered. The location and extent of the intersected Alaskite intrusive, continues to favour the interpretation that the intrusive body has a northwest strike with a steep southwesterly dip.

Hole BD-08-27: Drill hole BD-08-27 was designed to follow up a fence of drilling that included BD-07-16, BD 07-19 and BD-08-26, by extending the potential window of mineralization another 100m to the southwest. BD-08-27 collared into Andesite and stayed in andesite throughout the entire hole length with few, noted, less than one metre alaskite dykes in the entire drillhole.

Final assay results from drill hole BD-08-25, first reported on February 19th this year, are below:

Drillhole No. Total Depth (m) From (m) To (m) Interval (m) Mo% MoS2%
BD-08-25 798.82 67.92 798.82 730.9 0.10 0.17
Including 259.0 577.1 318.1 0.14 0.23
Including 447.0 577.1 130.1 0.20 0.33
Including 453.0 477.0 24.0 0.30 0.50
Including 611.3 739.0 127.7 0,15 0.25

This hole was collared into hornfelsed andesite through to 133.0 m before encountering the Alaskite intrusive. The Alaskite intrusive, from 133.0 m to 739.0 m, was inundated with extensive stockwork quartz veining, abundant visible molybdenum and favourable alteration.

The Alaskite intrusive is the main focus of the Lone Pine Property drilling and has been interpreted as being the most favorable lithology for molybdenum mineralization. To date, the Alaskite intrusive is 260m in length along its northwest-southeast strike and 310m wide in plan view and molybdenum mineralization has been tested to a known depth of 843m. A higher grade corridor of molybdenum mineralization has been outlined within the Alaskite intrusive as shown in the favourable assay results from BD-07-16, BD-08-24, BD-08-25, BD-08-26, BD 08-27 and BD-08-28.

Bard also released the results on May 27th from hole BD-08-29, with significant intercepts covered in the table below:

Drill Hole No. From (m) To (m) Interval (m) Mo% MoS2%
BD-08-29 229.0 749.0 520.0 .11 .18
Including 367.0 643.0 276.0 0.15 0.25
Including 485.0 537.0 52.0 0.20 0.33

Moly Fundamentals Stronger Than Ever
The fundamental aspects driving the strength in the molybdenum market remain extremely bullish. Large institutional investors such as Eric Sprott have even gone so foar as to establish their owm Molybdenum Participation Funds, designed to capitalize on the metal’s increasing value.

Among the main drivers for molybdenum’s high price:

• Record high molybdenum prices. Tightening supply and growing demand has driven the price of molybdenum from the $2-$3 per pound range where it languished throughout much of the 1990s, to its current level near $30 per pound.

• Strong demand fundamentals. The growing production of construction steel (32% of end use) and stainless steel (31% of end use) has driven molybdenum demand for its lightweight, high-strength and anti-corrosive properties. Demand for molybdenum-bearing construction steel (0.1%-1.2% Mo) continues to grow, fuelled by the oil and gas, ship building, aerospace and building industries. Stainless steel (1%-7% Mo) production has grown at a compound rate of 8% over the past five years and shows no signs of slowing down.

• Tight supply. Traditional producers of molybdenum have seen production rates decline. Codelco, the world’s second largest molybdenum producer, has reduced annual production by 10 million pounds due to falling head grades. A further 11 million pound reduction is possible this year. Freeport McMoran (Phelps Dodge) is considering reopening past mining operations or adding molybdenum recovery circuits to boost Mo by-product recoveries at their copper operations.

• Long lead time for new production. There is currently no significant excess standby supply at the mine level ready to be brought back into production, and limited new development of primary molybdenum mines has resulted in long lead times for greenfield developments.

• Chinese molybdenum exports are falling. China is the third-largest producer of molybdenum and historically one of the largest exporters. The country’s exports are declining as its voracious appetite for steel has redirected domestic production. Additionally, more stringent regulatory enforcement and taxing of exports have curtailed production from many small mines.

• High molybdenum prices likely to continue. Molybdenum consumption has grown at a compound annual rate of 5% over the past five years and now stands at approximately 400 million pounds per annum. Assuming annual demand growth of 4% going forward, annual global molybdenum production will need to expand by 75% to 700 million pounds by 2020.

El Nino Resumes Drilling for High Grade Copper in DRC

By James West

The rainy season is drawing to a close in the Democratic Republic of Congo (DRC), and that means its time to get the drills turning again on El Nino Ventures' (TSX.V:ELN) 350 square kilometer concession.

According to Jean Luc Roy, CEO of El Nino:, "Based upon the interpretation of our recently completed airborne geophysical survey, we believe we may be on the edge of a mineralized system which extends for over 2.8 kms in strike length. We will drill test the extent of this anomaly starting in April. We have also identified four other geophysical anomalies on our other permits which will be tested in the forthcoming drill program."

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world.

For example, one June 12, 2007 Anvil Mining Limited (TSX:ABM) based in Montréal Canada announced intersections of 10.9% copper over 21 m, 8.9% copper over 36 m, and 8.6% copper over 31 m.

The Katanga province of the DRC has more than 10% of the world's copper and many of the world's best deposits. All of Anvil's copper projects and operations are based on resources with average grades of more than 4% copper.

As a result of the recent work on the Kinsevere project, Anvil has established the following Proven and Probable Mineral Reserve estimate for the combined Stage I and II pits as at April 30, 2007.

Proven and Probable Mineral Reserve mined in Stage I is estimated at 3,726,000 tonnes, of which 917,000 tonnes will be processed through the Stage I plant (Heavy Media Separation ("HMS") and Electric-Arc Furnace ("EAF")), with the remaining ore being stockpiled for later processing through the Stage II plant (SXEW).

The Kinsevere Mineral Resource estimates as at December 31, 2006, which appeared in Anvil's April 23, 2007 news release, are as shown below:

Tiger resource is an Australian-based mining company, recently announced an intersection of 122 m grading 7% copper.

These companies both trade at substantially higher levels than does El Niño. In fact Anvil Mining recently announced a $201 million bought deal financing.

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world. Major mining companies such as Phelps Dodge and First Quantum Minerals are now in construction on world class ore bodies. Several junior companies are now actively exploring for copper and other minerals in the DRC..

Under the terms of the Agreement El Niño purchased a 70 percent interest in the Joint Venture with an option to acquire up to 90 percent of the project by coming to an agreement with our partners, over time. An initial cash payment of $250,000 USD will be made when all regulatory approvals have been received and upon titles of the properties being transferred to the new SPRL Congolese Company that is now being formed.

Additional cash payments totaling $300,000 USD will be made in three annual installments. 300,000 shares of El Niño will initially be issued to GCP Group upon regulatory approval and 400,000 additional shares will be issued over a three year period to the GCP Group. El Niño will fund all exploration work but will retain the services of the CGP Group in an agreement to be negotiated at a later date to support administrative and logistical aspects of the project.

El Nino recently appointed Allan Lines as Exploration Manager for the company's DRC operations.

Mr. Lines has worked in the mineral exploration industry for the past 13 years, exploring for VMS base metals in eastern Canada, greenstone gold exploration in West Africa and, for the past several years has been managing exploration programs in the DRC Copperbelt for a TSX/ASX listed copper producer and a NYSE listed major company.

Mr. Lines started working in the Democratic Republic of Congo in early 2005. Since then he designed and supervised geochemical sampling programs, advised on project acquisitions, authored baseline environmental studies and planned and managed RC and diamond drilling programs totaling well over 50,000 meters.

In addition to mineral exploration, Mr. Lines has several years experience in the field of mine permitting, including managing Environmental Impact Assessment Studies and public consultation programs.

Mr. Lines commented: "I am excited to be joining El Nino Ventures Inc. at this time -- the vast experience of the management team in doing business in the DRC and the company's project portfolio puts the company in a great position. I am eager to begin the 2008 drill campaign and maximize the value of the exploration properties."

Mr. Jean Luc Roy, President of El Nino Ventures states:" I am very pleased to have Mr. Allan Lines join our team in the DRC. We are very fortunate to have on board a geologist with such valuable DRC Copperbelt experience. With Allan's technical background and management's very substantial experience in the DRC the company is in a prime position to maximize the value of its highly prospective exploration permits in the DRC. Allan will work closely with his local technical team and he anticipates the start of our 2008 drill program for mid-April. "

El Nino Resumes Drilling for High Grade Copper in DRC

By James West

The rainy season is drawing to a close in the Democratic Republic of Congo (DRC), and that means its time to get the drills turning again on El Nino Ventures' (TSX.V:ELN) 350 square kilometer concession.

According to Jean Luc Roy, CEO of El Nino:, "Based upon the interpretation of our recently completed airborne geophysical survey, we believe we may be on the edge of a mineralized system which extends for over 2.8 kms in strike length. We will drill test the extent of this anomaly starting in April. We have also identified four other geophysical anomalies on our other permits which will be tested in the forthcoming drill program."

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world.

For example, one June 12, 2007 Anvil Mining Limited (TSX:ABM) based in Montréal Canada announced intersections of 10.9% copper over 21 m, 8.9% copper over 36 m, and 8.6% copper over 31 m.

The Katanga province of the DRC has more than 10% of the world's copper and many of the world's best deposits. All of Anvil's copper projects and operations are based on resources with average grades of more than 4% copper.

As a result of the recent work on the Kinsevere project, Anvil has established the following Proven and Probable Mineral Reserve estimate for the combined Stage I and II pits as at April 30, 2007.

Proven and Probable Mineral Reserve mined in Stage I is estimated at 3,726,000 tonnes, of which 917,000 tonnes will be processed through the Stage I plant (Heavy Media Separation ("HMS") and Electric-Arc Furnace ("EAF")), with the remaining ore being stockpiled for later processing through the Stage II plant (SXEW).

The Kinsevere Mineral Resource estimates as at December 31, 2006, which appeared in Anvil's April 23, 2007 news release, are as shown below:

Tiger resource is an Australian-based mining company, recently announced an intersection of 122 m grading 7% copper.

These companies both trade at substantially higher levels than does El Niño. In fact Anvil Mining recently announced a $201 million bought deal financing.

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world. Major mining companies such as Phelps Dodge and First Quantum Minerals are now in construction on world class ore bodies. Several junior companies are now actively exploring for copper and other minerals in the DRC..

Under the terms of the Agreement El Niño purchased a 70 percent interest in the Joint Venture with an option to acquire up to 90 percent of the project by coming to an agreement with our partners, over time. An initial cash payment of $250,000 USD will be made when all regulatory approvals have been received and upon titles of the properties being transferred to the new SPRL Congolese Company that is now being formed.

Additional cash payments totaling $300,000 USD will be made in three annual installments. 300,000 shares of El Niño will initially be issued to GCP Group upon regulatory approval and 400,000 additional shares will be issued over a three year period to the GCP Group. El Niño will fund all exploration work but will retain the services of the CGP Group in an agreement to be negotiated at a later date to support administrative and logistical aspects of the project.

El Nino recently appointed Allan Lines as Exploration Manager for the company's DRC operations.

Mr. Lines has worked in the mineral exploration industry for the past 13 years, exploring for VMS base metals in eastern Canada, greenstone gold exploration in West Africa and, for the past several years has been managing exploration programs in the DRC Copperbelt for a TSX/ASX listed copper producer and a NYSE listed major company.

Mr. Lines started working in the Democratic Republic of Congo in early 2005. Since then he designed and supervised geochemical sampling programs, advised on project acquisitions, authored baseline environmental studies and planned and managed RC and diamond drilling programs totaling well over 50,000 meters.

In addition to mineral exploration, Mr. Lines has several years experience in the field of mine permitting, including managing Environmental Impact Assessment Studies and public consultation programs.

Mr. Lines commented: "I am excited to be joining El Nino Ventures Inc. at this time -- the vast experience of the management team in doing business in the DRC and the company's project portfolio puts the company in a great position. I am eager to begin the 2008 drill campaign and maximize the value of the exploration properties."

Mr. Jean Luc Roy, President of El Nino Ventures states:" I am very pleased to have Mr. Allan Lines join our team in the DRC. We are very fortunate to have on board a geologist with such valuable DRC Copperbelt experience. With Allan's technical background and management's very substantial experience in the DRC the company is in a prime position to maximize the value of its highly prospective exploration permits in the DRC. Allan will work closely with his local technical team and he anticipates the start of our 2008 drill program for mid-April. "

El Nino Resumes Drilling for High Grade Copper in DRC

By James West

The rainy season is drawing to a close in the Democratic Republic of Congo (DRC), and that means its time to get the drills turning again on El Nino Ventures' (TSX.V:ELN) 350 square kilometer concession.

According to Jean Luc Roy, CEO of El Nino:, "Based upon the interpretation of our recently completed airborne geophysical survey, we believe we may be on the edge of a mineralized system which extends for over 2.8 kms in strike length. We will drill test the extent of this anomaly starting in April. We have also identified four other geophysical anomalies on our other permits which will be tested in the forthcoming drill program."

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world.

For example, one June 12, 2007 Anvil Mining Limited (TSX:ABM) based in Montréal Canada announced intersections of 10.9% copper over 21 m, 8.9% copper over 36 m, and 8.6% copper over 31 m.

The Katanga province of the DRC has more than 10% of the world's copper and many of the world's best deposits. All of Anvil's copper projects and operations are based on resources with average grades of more than 4% copper.

As a result of the recent work on the Kinsevere project, Anvil has established the following Proven and Probable Mineral Reserve estimate for the combined Stage I and II pits as at April 30, 2007.

Proven and Probable Mineral Reserve mined in Stage I is estimated at 3,726,000 tonnes, of which 917,000 tonnes will be processed through the Stage I plant (Heavy Media Separation ("HMS") and Electric-Arc Furnace ("EAF")), with the remaining ore being stockpiled for later processing through the Stage II plant (SXEW).

The Kinsevere Mineral Resource estimates as at December 31, 2006, which appeared in Anvil's April 23, 2007 news release, are as shown below:

Tiger resource is an Australian-based mining company, recently announced an intersection of 122 m grading 7% copper.

These companies both trade at substantially higher levels than does El Niño. In fact Anvil Mining recently announced a $201 million bought deal financing.

The DRC Copperbelt hosts multiple world class deposits and the exploration potential is considered one of the best in the world. Major mining companies such as Phelps Dodge and First Quantum Minerals are now in construction on world class ore bodies. Several junior companies are now actively exploring for copper and other minerals in the DRC..

Under the terms of the Agreement El Niño purchased a 70 percent interest in the Joint Venture with an option to acquire up to 90 percent of the project by coming to an agreement with our partners, over time. An initial cash payment of $250,000 USD will be made when all regulatory approvals have been received and upon titles of the properties being transferred to the new SPRL Congolese Company that is now being formed.

Additional cash payments totaling $300,000 USD will be made in three annual installments. 300,000 shares of El Niño will initially be issued to GCP Group upon regulatory approval and 400,000 additional shares will be issued over a three year period to the GCP Group. El Niño will fund all exploration work but will retain the services of the CGP Group in an agreement to be negotiated at a later date to support administrative and logistical aspects of the project.

El Nino recently appointed Allan Lines as Exploration Manager for the company's DRC operations.

Mr. Lines has worked in the mineral exploration industry for the past 13 years, exploring for VMS base metals in eastern Canada, greenstone gold exploration in West Africa and, for the past several years has been managing exploration programs in the DRC Copperbelt for a TSX/ASX listed copper producer and a NYSE listed major company.

Mr. Lines started working in the Democratic Republic of Congo in early 2005. Since then he designed and supervised geochemical sampling programs, advised on project acquisitions, authored baseline environmental studies and planned and managed RC and diamond drilling programs totaling well over 50,000 meters.

In addition to mineral exploration, Mr. Lines has several years experience in the field of mine permitting, including managing Environmental Impact Assessment Studies and public consultation programs.

Mr. Lines commented: "I am excited to be joining El Nino Ventures Inc. at this time -- the vast experience of the management team in doing business in the DRC and the company's project portfolio puts the company in a great position. I am eager to begin the 2008 drill campaign and maximize the value of the exploration properties."

Mr. Jean Luc Roy, President of El Nino Ventures states:" I am very pleased to have Mr. Allan Lines join our team in the DRC. We are very fortunate to have on board a geologist with such valuable DRC Copperbelt experience. With Allan's technical background and management's very substantial experience in the DRC the company is in a prime position to maximize the value of its highly prospective exploration permits in the DRC. Allan will work closely with his local technical team and he anticipates the start of our 2008 drill program for mid-April. "

Goldcliff’s 15 Ounces Gold Per Tonne

By Eric Pratt

Goldcliff Resources (TSX.V:GCN) assayed a trenching sample from its 100% owned Panorama Ridge project that returned a value of over 15 ounces per tonne of gold. The bonanza grade sample was assayed twice to confirm the result, which has validated the company’s theory that there would be high grade zones encountered throughout broadly disseminated lower grade host rock.

In the Hedley gold camp, the gold mineralization occurs in altered (skarn) sedimentary beds.

At Panorama Ridge,very little of the gold mineralization is visible native gold, even in the Bonanza Trench intercept. In order to have these bonanza gold grades, a gold-telluride compound mineral is thought to be related to the high-grade gold values. Goldcliff is researching the mineralogical possibilities to identify the mineral that is attributed to the high-grade gold values.

The Bonanza Trench, located at the south-western portion of the York-Viking zone, is a major gold discovery. The high-grade gold discovery at Panorama Ridge is comparable to the high-grade gold mineralization mined underground at the Nickel Plate Mine. The high-grade gold beds occur within an overall mineralized sequence that is up to 200 metres in thickness. The lower grade gold portions of this sequence were successfully mined by Mascot Gold Mines’ open pit operation.

The geological setting at Panorama Ridge is similar to these previously successful settings. Goldcliff has been targeting the bulk-tonnage potential of Panorama Ridge with success. The Bonanza Trench gold results confirm the high-grade potential of the property.

Meanwhile, trenching in the Nordic Zone at Panorama Ridge has expanded the area of previously determined mineralization by an additional 175 metres. The Nordic Zone and the York-Viking Zones are roughly 400 metres apart.

The Nordic Zone contains gold values averaging 1.30 to 2.32 g/t with higher grades ranging to 26.50 g/t.

Goldcliff will continue trenching throughout the 2008 exploration season, and will complete the rest of its 10,000 metre core drilling program.

Famous for gold since the first discovery in 1897, and once a thriving mining boomtown during the 1900s, Hedley was one of the great names in Canadian mining, and was named after Robert R. Hedley, manager of the Hall Smelter in Nelson, who had grubstaked many of the original prospectors.

Prospectors noticed coloured striations in the cliffs and recognized them as ore-bearing. Claims staked here were to expose one of the richest fractions in the history of mining in British Columbia. The mines were located high on mountaintops overlooking the town of Hedley below, and an aerial tramway 3 kilometres long had to be built to remove the ore.

The great northern railroad pushed through to Hedley in 1909, and the Nickel Plate mine continued to spew out rich ore at the rate of more than 50,000 ounces per year. The Mascot Fraction joined the action in 1936, to increase the total area production to more than 1.5 million ounces of gold and more than 4 million pounds of copper, significantly enriching the shareholders.

The Hedley Basin has had a long history of gold production (1904 to 1996) from the Hedley North mining district. During this period, 78,506,148 grams (2,524,313 ounces) of gold were produced from auriferous skarn deposits. The Nickel Plate and Hedley-Mascot mines produced more than 97 per cent of the gold from a single gold-skarn deposit (Nickel Plate deposit). Smaller production came from the French, Good Hope and Canty gold skarns. A small amount of gold production came from the Banbury quartz-carbonate veins (Maple Leaf and Pine Knot) located in Hedley Basin South.

The Mascot and Nickel Plate mines eventually fell under the ownership of Mascot Gold Mines Ltd, which traded from a start of $0.45 to a high of $20.63 on Tuesday August 4th, 1987.

Access to the Panorama Ridge property from Hedley is via Highway 3 by turning northeasterly onto the Old Hedley Road (Nickel Plate Mine Road) 2.5 kilometres east of Hedley. Alternatively, access from Keremeos or Penticton is via Highway 3A along the Green Mountain Road and the Apex Mountain Ski Hill Road. The Old Hedley Road public road passes through the northern portion of the property.

A number of logging and mining roads give excellent access to most areas of the property. The Winters Creek Forest Access road and their branches access the eastern and south eastern portions of the property. The West Cahill Forest Access Road accesses the western portion of the property (Skar prospect). The Good Hope Mine road accesses the south western portion of the property while the East Cahill Forest Access road accesses the Nordic, Spar, York and Slope prospects.

Soltera Mining Acquires Three More Past-Producing Gold Prospects

By Eric Pratt

Soltera Mining Corp. (OTCBB:SLTA) has been busy acquiring properties during the first quarter of 2008. Unstable markets have been unable to dampen the resolve with which management goes about building shareholder value.

Three weeks ago, Soltera announced it had obtained two new Mexican gold properties through the acquisition of Aztek Mineral, S.A. de CV. One week after that, the vending in of the Eureka Copper-Gold property and joint venture with TNR Gold Corp. (TSX.V:TNR) was announced.

That brings to 4 the number of gold projects under development by Soltera, summarized as follows:

El Torno (Argentina, gold, mining rights 7,863 hectares) is located in the Andean Cordillera near the international border with Bolivia. The property contains a very large gold-bearing quartz vein that extends intermittently for at least 14 km long north-south. The vein is sub-vertical and the gold is concentrated in a 2 meter-thick breccia zone along its western flank.

Historically, El Torno was worked by the Incas and the Spanish over a long period and has more than 1,000 m of underground galleries. There is still a small-scale operation extracting gold from elluvial deposits on the east side of the vein. In 1997, Puma Minerals carried out 2,100 m of drilling on a 1 km length; and in 1999 Penoles Minerals (operators of the world’s richest silver mine and Mexico’s richest and largest gold mines) undertook surface sampling, geological mapping and an IP geophysical survey in the same area. The combined (non NI-43-101 compliant) results of this work showed:

a) El Torno is within a “gold province” that extends several hundred kilometers north-south through Argentina and Bolivia;
b) The strongly mineralized breccia zone on the west side of the vein carries up to 37 gpt gold in the tested area, and has potential for several million ounces along the length of the vein;
c) Samples of stockwork zones some distance from the main vein gave up 23 gpt and in one case 112 gpt gold;
d) There are several IP geophysical anomalies that could indicate mineralization, but have not yet been drilled.

Soltera holds almost all the 14 km length and commenced their exploration in late 2007 with a geochemical stream sediment survey combined with structural mapping designed to target specific parts of the vein and the surrounding area for more detailed investigation.

Soltera will now define drill targets using more detailed geochemical and geophysical surveys. Drilling is scheduled to commence in the second quarter of 2008 and, given success, this will lead immediately to a full feasibility study to commence before year’s end.

Real de Cananea, Mexico
The “Real de Cananea” (Mexico, gold, mining claims 1,030 hectares) is located in Sonora State 26 km from the Cananea copper mine owned by Penoles. It contains a gold-bearing fault zone up to 270 m wide and more than 400m long within Cretaceous volcanic rocks that are intensely altered and carry gold.

There is a small old mine in the center of the property that was probably first worked by the Mayas and certainly by the Spaniards, with several shafts reaching 100 m below surface. The hard wallrock was mined with enormous effort and this, together with the fact that water had to be transported 8 km, indicates the importance of the mineralisation. Gold is widespread on the property, with altered rocks showing up to 65 gpt.

Soltera’s target is a large-scale open-pit and the area is broad enough to accommodate well in excess of 1 million ounces. Geochemical, geological and geophysical surveys will be used to define drill targets and drilling is scheduled for the third quarter of 2008.

Eureka, Argentina
(Argentina, copper-gold, around 10,000 hectares) is located in northern Argentina near the Bolivian border and only 3 km from the El Torno project. The property contains ‘Red Bed’ type strata-bound copper mineralization within sedimentary sandstones, clays and conglomerates. The surface exposures are weathered and contain erratically distributed gold. Alluvial gold has been worked in the area since prior to the time of the Spanish arrival and there is an old mine with over 5 km of underground workings that exploited copper and gold on a small scale until 1987.

The deposit is similar in style to major copper deposits in the Bolivian part of the Tertiary Belt. A geological estimate in the late 1990’s (historic resources estimate which is not NI-43-101 compliant) was 50 to 60 million tons grading 1% copper. Only 70 meters of the 450 m deep formation has been explored to date which leaves extensive upside potential.

TNR Gold Corp. (“TNR”), a Vancouver based mining company listed on the TSX with extensive experience in Argentina, has entered into an option agreement with the option vendor to acquire a 75% interest in the property by spending a total of US$3,000,000 in exploration and option payments before April 20, 2010.

TNR will undertake detailed geological mapping, trenching, geochemical and geophysical surveys, sampling the historic underground workings and drilling. Soltera is not required to incur any expenditure on the project at the present time.

Casita Colorada, the Company’s other project in Mexico, is a large mineralized shear zone worked since the end of the 1800’s for gold. The mineralized zone was at least 400 m long and 150 m wide and there is potential for a substantial gold deposit, but the project is being held in reserve so that the company can concentrate on El Torno and Real de Cananea.

Be sure to keep a close eye on SLTA over the next couple months. Geochemical assay results are due any day now, and there’s plenty of news to be generated by exploration activity on all the properties.

Little Squaw’s Big Gold Potential

By Eric Pratt

Its not often one discovers an OTC-listed mining company that has a board of directors and management team with the caliber and pedigree of Little Squaw Gold Mining Company (OTCBB:LITS).

The president, Richard Walters, besides being a certified professional geologist with the American Institute of Professional Geologists and a Qualified Person as defined in National Instrument 43-101, was also a founder, director, president and chief operating officer of Yamana Resources Inc. the forerunner to Yamana Gold Inc., (TSX:YRI) between December 1994 and March 2000. He also serves as a director and executive vice-president of Marifil Mines Ltd. (TSX.V:MFM).

Rodney Blakestad, the vice-president of exploration, has in his thirty years as a geologist worked with Columbia Metals Corp. (TSX.V:COL), Nevada Star (now Pure Nickel - TSX:NIC), and Robex Resources (now Robex Gold – TSX.V:RBX). He is credited in part with the discovery of the 4 million ounce Fort Knox Gold Mine, now owned by Kinross Gold Corporation (TSX:KGC).

Robert Pate, the company’s vice-president of operations, is also a 30 year veteran of mine operation and mineral exploration having served with Yamana Resources, Freeport Copper (a division of Freeport McMoran – NYSE: FCX) , Coeur d’Alene Mines (NYSE:CDE), and Atlas Precious Metals were he was the chief geologist at the Gold Bar Mine in Nevada. At Freeport, he was a senior supervisor of the huge Grassberg Indonesia copper/ gold mine.

In the board of directors, William Schara is the Chairman, and was the chief financial officer of Minera Andes Inc. (TSX:MAI), a Vancouver-based company bringing a new gold and silver mine into production in Argentina. He is currently the CEO of Nevoro (TSX.NVR), and is also an alumni of Yamana Resources.

The rest of the directors have collectively had stints with Kennecott Corporation (now a division of Rio Tinto PLC – NYSE:RTP), Bond International Gold, Copper Range Corp, Newmont Mining (NYSE:NEM), Revett Minerals (TSX:RVM), and Pegasus Gold Corp (now Apollo Gold – AMEX:AGT). The affiliations with professional associations related to mining are simply too numerous to list here.

So the point is, don’t think of Little Squaw as just another OTC-listed mining deal. This is a powerful, been-there, done-that team of seasoned executives who are unlikely to waste their time on anything less than projects with the strong potential to become mines.

Which brings us to their flagship project, the Chandalar mining district. Bear in mind that the past employment of both management and directors is extremely relevant to this property, in that there is a great deal of history spent on the part of this team in the jurisdiction of Chandalar – Alaska.

This 23 square mile property package has above average potential for underground, open pit, and placer mining operations. Little Squaw owns 100% of the ground, and an independent study by Pacific Rim Geological has drawn comparisons in the geology at Chandalar to, among others, the 38 million ounce Sukhoi-Log mine in Russia, the 7.9 million ounce Natalka mine, also in Russia, the Juneau district in Alaska, which produced over 3 million ounces, Cape Nome, Alaska, which produced over 5 million ounces of placer gold, and Treadwell, Alaska, which produced more than 3 million ounces of gold.

The main hard rock deposits in the Chandalar district are the Mikado Lode, Chandalar-Eneveloe Lode, Summit Lode, and the Little Squaw Lode. Other Lode Gold Prospects in the Chandalar Mining District include the Crystal Vein, Big Squaw Claim, Pioneer Prospect, Drumlummon Prospect, Grubstake Vein, Grubstake East Prospect, Prospector East Prospect, Indicate-Tonapah Lode, Chandalar Vein, Jupiter Vein, Bonanza Vein, Pallasgren Claim, St. Marys Prospect, Star Claim Group, Star No. 3 Claim, Duplex-Triplex Vein, Wildcat Prospect, Jackpot Prospect, Woodchuck Claim, Little Kiska Occurrence, Pedro Prospect, and the Grubstake West Claim Group. Most of these prospects are historic discoveries carrying significant gold values that remain as yet unexplored.

This mineral belt includes such famous deposits as Cominco's Red Dog zinc mine, the largest zinc deposit in the world, and the prolific Ambler volcanogenic massive sulfide (copper & zinc) district, now controlled by Nova Gold. Prospectors discovered the district about 100 years ago, and its recorded production from placer and lode mines is 84,000 ounces. There has been a substantial but unknown amount of unreported and otherwise secret production. Of the recorded production, 76,000 ounces of gold or about 90 percent of the total was recovered from placer deposits.

Trenching last year produced some excellent results including a 20-foot-wide structure that assayed 10.58 grams per tonne. Drilling has intersected good grades and widths such as 6.1 metres grading 4 grams per tonne gold, 9.1 metres grading 4.7 grams per tonne gold, and 29 metres of just under 1 gram per tonne gold, each of these occurring in three different zones.

An underground channel from the 180–metre-long Little Squaw vein assayed an astounding 89 ounces per tonne of gold.

So there’s a lot of potential here, and the company’s exploration program is getting ramped up for a busy summer.

Besides this primary project, Little Squaw also has two other projects in the western hemisphere in prolific gold producing regions that are politically secure. These include the Broken Hills West property, which is 15 miles north of Gabbs in the Walker Lane Trend in Nevada, which has produced over 50 million ounces of gold so far, and the Pedra de Fogo project in Goias State, Brazil in the middle of a prolific gold mining region.

But these will be the subject of future articles, so keep your eyes open for more information on this little known, but outstanding opportunity.

Melt-down Time For Uranium Stocks?

By James West
http://www.midasletter.com

The market has been unkind to junior resource stocks for the last several months, but it has reserved special treatment for uranium juniors, whose management are sounding increasingly depressed and suicidal.

The reason is plain to see – the price of uranium is heading south in a hurry, and that has many investors asking, “What exactly is the condition of uranium fundamentals now?”

Cameco, perhaps the best corporate bell-weather of the uranium business, has seen its shares fall 18% so far in 2008, and 26% in the past year.

Ian Howat, senior National Bank Financial mining analyst, has dropped his forecast price for uranium in 2008 to $110 a pound from $120. It gets worse – by 2012, he says it will drop to $75 a pound.

So what happened to the “Nuclear Renaissance” that was supposed to lead the world out of Greenhouse Gas purgatory and into a low cost, low emissions energy future?

It just hasn’t happened quite as fast as some would have had you believe.

The reasons for that reality are numerous, and here’s just a few:

1. Supply is ample to meet anticipated demand, given existing operating mines’ ability to increase current high grade production;

2. The problems associated with uranium mine tailings are not easily solved, so public backlash against new uranium mine permitting will be commensurate with the proposed mine’s proximity to population. The greater the density, the stronger will be the opposition.

3. The sheer volume of junior resource companies who have been falling all over themselves to hoist the uranium flag suggest an eventual surplus of global inventory that will make the arms race surplus puny in comparison.

4. There is increasing evidence to support the fact that hydrogen is going to power the infrastructure of the future, along with wind, solar and other greener fuels that don’t come with the radioactive baggage of spent nuclear fuel.

5. The biggest consumer – well actually the ONLY consumer of uranium – is nuclear power plants. If you think resistance to new uranium mines is substantial, just imagine if you received word that “they” wanted to build a nuclear facility next to your house. Though there are 34 under construction worldwide presently, the permitting process is probably the most cumbersome.

6. The other problem with new nuclear plants is they are notorious for being delayed again and again and again, and in the meantime, other power sources fill the gap. The only thing outstripping the rate of new nuclear power permitting is the rate at which these plants are being decommissioned around the world.

There is a also major disconnect between the “spot” price for uranium, and the price uranium miners are receiving for their output. In its most recent report, Cameco, Canada’s largest miner of yellowcake, said it received an average of US$38.92 a pound, while in Australia, Energy Resources only got an average of US$25.06.

That’s because while there is a spot price for uranium, there is no substantial spot market. You can’t go to the local coin dealer and buy a 1, 10, or 400 ounce bar of U3O8.

This represents a huge discrepancy. In the gold market, miners receive much closer to the spot price for their product, because there is far more liquid market for gold.

Gold, after all, is the only true global currency, and every day people convert paper currencies into gold to protect their wealth.

So is it time to dump your uranium juniors and forget about them?

Not so fast. The run-up in uranium prices can be likened to tech stocks in 1999. Nobody knew how to evaluate the demand, and but the internet was so new, the hype induced the “fear of missing out” part of the herd mentality, and the stampede was under way.

After the crash, the stampede went in the other direction, and even companies with value in the form of earnings and dividends were sold down to fractions of their values. Now, internet technologies are better understood, and its much harder to hype the reality.

The current uranium phenomenon is in the second phase of the same sort of cycle, where everybody panics and indiscriminate dumping is the result.

There are a lot factors that yet point to a sustained growth in the importance uranium will play in our energy future.

Consider:

* The French company Areva, the world's largest builder of nuclear reactors, forecasts that 150 to 300 nuclear reactors will be built in the world from now to 2030. At least 50 of them will be built in China and India.

* In a move to secure energy supplies and tackle climate change, the U.K. government sanctioned the construction of six nuclear reactors set to be operational by 2020, that would replace an aging fleet of 19 power stations that supply around 18 percent of Britain's electricity needs.

* The South African government has declared nuclear energy to be a big part of its new power-generation capacity build programme, with 25 000 MW additional nuclear power-generation capacity to come on stream by 2025.

So no. Its not the end of the game for junior uranium explorers by any stretch. If anything, it’s a buying opportunity for the quality deals with good grades and pounds in the ground, been-there, done-that management, and close to infrastructure but away from populations with a tradition of eco-opposition.

Its really just bad luck that spot uranium prices are dropping at the same time the sub-prime foofooraw beats on everything with the ugly stick.

Melt-down Time For Uranium Stocks?

By James West
http://www.midasletter.com

The market has been unkind to junior resource stocks for the last several months, but it has reserved special treatment for uranium juniors, whose management are sounding increasingly depressed and suicidal.

The reason is plain to see – the price of uranium is heading south in a hurry, and that has many investors asking, “What exactly is the condition of uranium fundamentals now?”

Cameco, perhaps the best corporate bell-weather of the uranium business, has seen its shares fall 18% so far in 2008, and 26% in the past year.

Ian Howat, senior National Bank Financial mining analyst, has dropped his forecast price for uranium in 2008 to $110 a pound from $120. It gets worse – by 2012, he says it will drop to $75 a pound.

So what happened to the “Nuclear Renaissance” that was supposed to lead the world out of Greenhouse Gas purgatory and into a low cost, low emissions energy future?

It just hasn’t happened quite as fast as some would have had you believe.

The reasons for that reality are numerous, and here’s just a few:

1. Supply is ample to meet anticipated demand, given existing operating mines’ ability to increase current high grade production;

2. The problems associated with uranium mine tailings are not easily solved, so public backlash against new uranium mine permitting will be commensurate with the proposed mine’s proximity to population. The greater the density, the stronger will be the opposition.

3. The sheer volume of junior resource companies who have been falling all over themselves to hoist the uranium flag suggest an eventual surplus of global inventory that will make the arms race surplus puny in comparison.

4. There is increasing evidence to support the fact that hydrogen is going to power the infrastructure of the future, along with wind, solar and other greener fuels that don’t come with the radioactive baggage of spent nuclear fuel.

5. The biggest consumer – well actually the ONLY consumer of uranium – is nuclear power plants. If you think resistance to new uranium mines is substantial, just imagine if you received word that “they” wanted to build a nuclear facility next to your house. Though there are 34 under construction worldwide presently, the permitting process is probably the most cumbersome.

6. The other problem with new nuclear plants is they are notorious for being delayed again and again and again, and in the meantime, other power sources fill the gap. The only thing outstripping the rate of new nuclear power permitting is the rate at which these plants are being decommissioned around the world.

There is a also major disconnect between the “spot” price for uranium, and the price uranium miners are receiving for their output. In its most recent report, Cameco, Canada’s largest miner of yellowcake, said it received an average of US$38.92 a pound, while in Australia, Energy Resources only got an average of US$25.06.

That’s because while there is a spot price for uranium, there is no substantial spot market. You can’t go to the local coin dealer and buy a 1, 10, or 400 ounce bar of U3O8.

This represents a huge discrepancy. In the gold market, miners receive much closer to the spot price for their product, because there is far more liquid market for gold.

Gold, after all, is the only true global currency, and every day people convert paper currencies into gold to protect their wealth.

So is it time to dump your uranium juniors and forget about them?

Not so fast. The run-up in uranium prices can be likened to tech stocks in 1999. Nobody knew how to evaluate the demand, and but the internet was so new, the hype induced the “fear of missing out” part of the herd mentality, and the stampede was under way.

After the crash, the stampede went in the other direction, and even companies with value in the form of earnings and dividends were sold down to fractions of their values. Now, internet technologies are better understood, and its much harder to hype the reality.

The current uranium phenomenon is in the second phase of the same sort of cycle, where everybody panics and indiscriminate dumping is the result.

There are a lot factors that yet point to a sustained growth in the importance uranium will play in our energy future.

Consider:

* The French company Areva, the world's largest builder of nuclear reactors, forecasts that 150 to 300 nuclear reactors will be built in the world from now to 2030. At least 50 of them will be built in China and India.

* In a move to secure energy supplies and tackle climate change, the U.K. government sanctioned the construction of six nuclear reactors set to be operational by 2020, that would replace an aging fleet of 19 power stations that supply around 18 percent of Britain's electricity needs.

* The South African government has declared nuclear energy to be a big part of its new power-generation capacity build programme, with 25 000 MW additional nuclear power-generation capacity to come on stream by 2025.

So no. Its not the end of the game for junior uranium explorers by any stretch. If anything, it’s a buying opportunity for the quality deals with good grades and pounds in the ground, been-there, done-that management, and close to infrastructure but away from populations with a tradition of eco-opposition.

Its really just bad luck that spot uranium prices are dropping at the same time the sub-prime foofooraw beats on everything with the ugly stick.

Bard Ventures Reports Another Big Hole

By Darryl Kelley

In what is quickly becoming a habit with Bard Ventures (TSX.V:CBS), another great intercept from the drilling ongoing at the Lone Pine Molybdenum Project has returned 0.06% Molybdenum over 284 meters.

Hole BD07-16 was designed to explore the extent of the favorable Alaskite intrusive between drill holes BD07-01 and BD07-15. The Alaskite intrusive contains the disseminated molybdenite and associated surrounding stratigraphy contains the contact fracture veins and veinlets with associated molybdenum mineralization. Hole BD07-16 was drilled 75 meters northwest of hole BD07-01 and 125 meters southeast of hole BD07-15.

The drill hole intersected approximately 130 meters of intercalated Alaskite with hornfelsed andesite before intersecting 369 meters of strongly stockwork veined hornfelsed andesite. Molybdenum mineralization was encountered throughout the entire hole with 0.045% Mo (0.075% MoS2) averaged over 496 meters, between 3 - 499 meters.

The Alaskite intrusive is the main focus of the Lone Pine Property drilling and has been interpreted as being the favourable lithology for molybdenum mineralization. To date the Alaskite intrusive is a known 200 meters in length along its NW/SE strike, 260 meters wide in plan view and molybdenum mineralization has been tested to a known 525 meters in depth.

Of importance to note is the existing infrastructure on the Property, which includes Highway 16, natural gas pipeline, a major hydro power transmission line and transformer sub-station, and it is located only 15 kilometers from the CN rail line in Houston, BC.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006). The Lone Pine exploration work is being conducted under the supervision of Qualified Person Jim Miller-Tait, P. Geo., a Director of Bard.

Molybdenum is forecast to continue to see strong demand growth in the years ahead, and prices will increase steadily to reflect that.

According to Senior Analyst for Base Metals Catherine Virga, world moly demand will grow 5.8% this year, due in part to the increasing demand for cleaner fuels. She advised that airspace superalloy consumption will increase moly demand as the global airline passenger rate is forecast to grow at an average rate of 5.6% in 2009.

Virga forecast that the overall contributions traditional moly-producing miners and nations to global molybdenum mines supplies will decline. While China's domestic molybdenum mine production is projected to be less than 120 million pounds annually through 2009, the country's exports of molybdenum oxide and ferromolybdenum are anticipated to dip as low as to 30 million pounds this year due to export quotas.

In a presentation to the Association for Mineral Exploration British Columbia's Mineral Roundup, Virga suggested that the present rally in molybdenum prices differs from the 1970s moly price recovery because of shifting organizations of molybdenum supplies; the widening scope of molybdenum end-uses; and diminishing inventories.

Virga believes that this year moly will be setting a new trend due to the fact that the Molybdenum market is expected to become less dependent on by-product producers, regional diversification of molybdenum mine production, the declining market share of dominant players, and reduced supplies from China.

The changing role of by-product producers, combined with tighter regulation on Chinese producers is expected to continue the present rally in molybdenum prices, according to CPM's analysis. The situation is compounded by a declining number of secondary moly materials-such as recycled stainless steel and catalysts--and a rising cost structure.

Meanwhile, CPM also noted that the scope of molybdenum end-users is expanding as the world's demand for cleaner energy grows.

Bard is led by Eugene Beukman as CEO and President, and Mining Engineer John Malysa.

Mr. Beukman graduated from the Rand University of Johannesburg, South Africa with a Bachelor of Law degree and a Bachelor of Law Honors Postgraduate degree in 1987. Mr. Beukman was previously employed as a legal advisor to the predecessor of BHP Billiton. He has over twenty years experience in the acquisition of assets and joint ventures.

James Miller-Tait has been Vice President, Exploration of Cross Lake Minerals since November 1998; Project Geologist, Cross Lake Minerals Ltd. from January 1998 to November 1998; President, Sikanni Mine Development Ltd., January 1997 to January 1998; Consulting Geologist, May 1996 to December 1996; Project Manager (previously Chief Geologist), Oniva International Services Ltd., September 1987 to May 1996.

John Malysa is a mining engineer with extensive experience in the mining and exploration environment.He is a Registered Professional Engineer in Colorado with a B.Sc. in Mining Engineering from Penn State University and a MBA from University of Colorado with over 30 years of progressive mining experience in all aspects of both surface and underground mine exploration, design, feasibility, construction, operations and management. Hands on underground and surface mining experience in both North and South America in union and non-union operations.

His project and operations experience include underground mines up to 22,000 tones per day and surface mines up 100,000 tones per day. He has management, design and construction experience in various precious and base metals with new mines costing +US$250 million. His mineral process experience includes Crushing and Screening, CIL, CIP, Heap Leach, Gravity and Flotation recovery methods. John has participated in financial and union negotiating experience with banks, investors and employees. John has a proven track record with several positions as President and/or General Manager (GM) of entrepreneurial mining companies with P&L responsibility and reporting to the Board of Directors.

Bard Ventures Reports Another Big Hole

By Darryl Kelley

In what is quickly becoming a habit with Bard Ventures (TSX.V:CBS), another great intercept from the drilling ongoing at the Lone Pine Molybdenum Project has returned 0.06% Molybdenum over 284 meters.

Hole BD07-16 was designed to explore the extent of the favorable Alaskite intrusive between drill holes BD07-01 and BD07-15. The Alaskite intrusive contains the disseminated molybdenite and associated surrounding stratigraphy contains the contact fracture veins and veinlets with associated molybdenum mineralization. Hole BD07-16 was drilled 75 meters northwest of hole BD07-01 and 125 meters southeast of hole BD07-15.

The drill hole intersected approximately 130 meters of intercalated Alaskite with hornfelsed andesite before intersecting 369 meters of strongly stockwork veined hornfelsed andesite. Molybdenum mineralization was encountered throughout the entire hole with 0.045% Mo (0.075% MoS2) averaged over 496 meters, between 3 - 499 meters.

The Alaskite intrusive is the main focus of the Lone Pine Property drilling and has been interpreted as being the favourable lithology for molybdenum mineralization. To date the Alaskite intrusive is a known 200 meters in length along its NW/SE strike, 260 meters wide in plan view and molybdenum mineralization has been tested to a known 525 meters in depth.

Of importance to note is the existing infrastructure on the Property, which includes Highway 16, natural gas pipeline, a major hydro power transmission line and transformer sub-station, and it is located only 15 kilometers from the CN rail line in Houston, BC.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006). The Lone Pine exploration work is being conducted under the supervision of Qualified Person Jim Miller-Tait, P. Geo., a Director of Bard.

Molybdenum is forecast to continue to see strong demand growth in the years ahead, and prices will increase steadily to reflect that.

According to Senior Analyst for Base Metals Catherine Virga, world moly demand will grow 5.8% this year, due in part to the increasing demand for cleaner fuels. She advised that airspace superalloy consumption will increase moly demand as the global airline passenger rate is forecast to grow at an average rate of 5.6% in 2009.

Virga forecast that the overall contributions traditional moly-producing miners and nations to global molybdenum mines supplies will decline. While China's domestic molybdenum mine production is projected to be less than 120 million pounds annually through 2009, the country's exports of molybdenum oxide and ferromolybdenum are anticipated to dip as low as to 30 million pounds this year due to export quotas.

In a presentation to the Association for Mineral Exploration British Columbia's Mineral Roundup, Virga suggested that the present rally in molybdenum prices differs from the 1970s moly price recovery because of shifting organizations of molybdenum supplies; the widening scope of molybdenum end-uses; and diminishing inventories.

Virga believes that this year moly will be setting a new trend due to the fact that the Molybdenum market is expected to become less dependent on by-product producers, regional diversification of molybdenum mine production, the declining market share of dominant players, and reduced supplies from China.

The changing role of by-product producers, combined with tighter regulation on Chinese producers is expected to continue the present rally in molybdenum prices, according to CPM's analysis. The situation is compounded by a declining number of secondary moly materials-such as recycled stainless steel and catalysts--and a rising cost structure.

Meanwhile, CPM also noted that the scope of molybdenum end-users is expanding as the world's demand for cleaner energy grows.

Bard is led by Eugene Beukman as CEO and President, and Mining Engineer John Malysa.

Mr. Beukman graduated from the Rand University of Johannesburg, South Africa with a Bachelor of Law degree and a Bachelor of Law Honors Postgraduate degree in 1987. Mr. Beukman was previously employed as a legal advisor to the predecessor of BHP Billiton. He has over twenty years experience in the acquisition of assets and joint ventures.

James Miller-Tait has been Vice President, Exploration of Cross Lake Minerals since November 1998; Project Geologist, Cross Lake Minerals Ltd. from January 1998 to November 1998; President, Sikanni Mine Development Ltd., January 1997 to January 1998; Consulting Geologist, May 1996 to December 1996; Project Manager (previously Chief Geologist), Oniva International Services Ltd., September 1987 to May 1996.

John Malysa is a mining engineer with extensive experience in the mining and exploration environment.He is a Registered Professional Engineer in Colorado with a B.Sc. in Mining Engineering from Penn State University and a MBA from University of Colorado with over 30 years of progressive mining experience in all aspects of both surface and underground mine exploration, design, feasibility, construction, operations and management. Hands on underground and surface mining experience in both North and South America in union and non-union operations.

His project and operations experience include underground mines up to 22,000 tones per day and surface mines up 100,000 tones per day. He has management, design and construction experience in various precious and base metals with new mines costing +US$250 million. His mineral process experience includes Crushing and Screening, CIL, CIP, Heap Leach, Gravity and Flotation recovery methods. John has participated in financial and union negotiating experience with banks, investors and employees. John has a proven track record with several positions as President and/or General Manager (GM) of entrepreneurial mining companies with P&L responsibility and reporting to the Board of Directors.

High Price of Gold Makes Astral Mining a Safer, Stronger Bet

By Doug Hadfield

The first good news of the year for readers at Resourcex Investor was the price of gold. The start of the year heralded all-time high prices for gold easily topping $900 per ounce, driven by the weak US dollar, high oil prices and renewed geopolitical concerns. Just a month later, gold continues to break all time highs, confidently striding toward the long anticipated $1,000 mark.

It seems the world now faces some of the most difficult economic conditions since the dotcom meltdown, a reality echoed by everyone from Alan Greenspan, who believes the likelihood of a US recession is 50/50, and that a global recession is at some point “inevitable.”

In early January, the Financial Times of London surveyed the opinions of 55 top economists from around the globe. "Nearly nine in 10 think public finances are not in good order," the authors stated.

All this may sound like bad news – and to policymakers it may well be – but resource investors know that the effect of this trend on the gold price is only good news.

In fact, the gold price as measured against the world's five most important currencies – including the US and Canadian dollar, the Euro, Yen, and British Pound Sterling – has gained an, had gained a whopping 150% in the past seven years – until the beginning of January – according to gold analyst Adrian Ash, from the Bullion Vault. Since then gold has gained another $100 per ounce, which is both staggering and unprecedented.

Junior Resource companies closely aligned with the price of gold – such as Astral Mining (TSX.V:AST) – are basking in the glow of this new reality: A long-term gold price well above the previous long-term average of about $350 per ounce.

President and CEO of Astral, Manfred Kurschner recently told me, “Although most junior exploration company’s share prices are not reflecting the current buoyant gold price, it is only a matter of time before those companies with potential discoveries will get noticed. We are not yet in the phase of the gold cycle where any company with exploration or gold in their name is going to have it’s share price soar. That I believe is some time away. But if you do your homework there will definitely be money made on the right juniors in the next while. The majors are finally having some recognition and the mid-size companies are starting to move, so usually the juniors are next.”

Last year, the Northern Miner wrote ran a story outlining the effect that positive assays had on the company’s share price: “Wide, high-grade gold values from a second-phase trenching program on the Jumping Josephine (JJ) project in southeastern B.C.'s Rossland-Republic trend gave Astral Mining (AST-V, ASMGF-O) a boost in the market recently,” the author stated. “Infill trenching on the Main zone returned up to 7 metres of 31.2 grams gold per tonne in trench 2A, including a 1-metre interval of 133.9 grams gold.”

That program was an infill program, conducted at 10-metre intervals, and followed initial trenching completed in 2006 done at 50-metre spacings across the structure. Fifteen trenches completed on the Main zone traced the gold-mineralized quartz stockwork over 270 metres of strike, which remains open to the southwest and northeast.

Now, with a Phase II drill program complete and more assays confirming solid grades, Astral Mining appears to be set for a renewed share price assessment.

“The thing to remember with this high-grade gold discovery is that it is located on the surface, several kilometers away from a paved highway, in a mining district with mills, smelters and power in close proximity, Kurschner said. “That makes a 500,000 to one million-ounce gold discovery much less risky than a 5 million-ounce low-grade discovery high in the Andes or in northern BC, where infrastructure costs can quickly make a project uneconomical even with the current high gold price.”

In 2007, Astral and JV Kootenay Gold (TSX.V: KTN) amassed an impressive database of assays from JJ. In November, the reported assays including 15.18 g/t gold over 4 m (incl. 1 m at 56.4 g/t gold); 7.74 g/t over 5 m (incl. 15.99 g/t over 2 m); 13.83 g/t over 3 m (incl. 35.6 g/t over 1 m); 8.28 g/t over 6 m, and 12.44 g/t gold over 8 m from hole 48 (incl. 26.9 g/t gold over 3 m). Similar or better results were achieved throughout the year.
Gold mineralization at JJ is hosted by structurally controlled quartz stockwork veining at the Main Zone, which has been intersected along 15 section lines over a strike length of 700 metres and to vertical depths of up to 225 metres below surface. The company is presently designing an aggressive exploration program for 2008, including additional drilling, a 3-D IP geophysical survey, and additional trenching and soil grids.
An updated NI 43-101 Resource Estimate is expected after the 2008 Phase 3 drilling results are completed and compiled. This will add value to a share price that is set to push beyond its present price ceiling.

Astral Mining has only 27 million shares(FD) outstanding and controls a 60% interest in the Jumping Josephine project.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

High Price of Gold Makes Astral Mining a Safer, Stronger Bet

By Doug Hadfield

The first good news of the year for readers at Resourcex Investor was the price of gold. The start of the year heralded all-time high prices for gold easily topping $900 per ounce, driven by the weak US dollar, high oil prices and renewed geopolitical concerns. Just a month later, gold continues to break all time highs, confidently striding toward the long anticipated $1,000 mark.

It seems the world now faces some of the most difficult economic conditions since the dotcom meltdown, a reality echoed by everyone from Alan Greenspan, who believes the likelihood of a US recession is 50/50, and that a global recession is at some point “inevitable.”

In early January, the Financial Times of London surveyed the opinions of 55 top economists from around the globe. "Nearly nine in 10 think public finances are not in good order," the authors stated.

All this may sound like bad news – and to policymakers it may well be – but resource investors know that the effect of this trend on the gold price is only good news.

In fact, the gold price as measured against the world's five most important currencies – including the US and Canadian dollar, the Euro, Yen, and British Pound Sterling – has gained an, had gained a whopping 150% in the past seven years – until the beginning of January – according to gold analyst Adrian Ash, from the Bullion Vault. Since then gold has gained another $100 per ounce, which is both staggering and unprecedented.

Junior Resource companies closely aligned with the price of gold – such as Astral Mining (TSX.V:AST) – are basking in the glow of this new reality: A long-term gold price well above the previous long-term average of about $350 per ounce.

President and CEO of Astral, Manfred Kurschner recently told me, “Although most junior exploration company’s share prices are not reflecting the current buoyant gold price, it is only a matter of time before those companies with potential discoveries will get noticed. We are not yet in the phase of the gold cycle where any company with exploration or gold in their name is going to have it’s share price soar. That I believe is some time away. But if you do your homework there will definitely be money made on the right juniors in the next while. The majors are finally having some recognition and the mid-size companies are starting to move, so usually the juniors are next.”

Last year, the Northern Miner wrote ran a story outlining the effect that positive assays had on the company’s share price: “Wide, high-grade gold values from a second-phase trenching program on the Jumping Josephine (JJ) project in southeastern B.C.'s Rossland-Republic trend gave Astral Mining (AST-V, ASMGF-O) a boost in the market recently,” the author stated. “Infill trenching on the Main zone returned up to 7 metres of 31.2 grams gold per tonne in trench 2A, including a 1-metre interval of 133.9 grams gold.”

That program was an infill program, conducted at 10-metre intervals, and followed initial trenching completed in 2006 done at 50-metre spacings across the structure. Fifteen trenches completed on the Main zone traced the gold-mineralized quartz stockwork over 270 metres of strike, which remains open to the southwest and northeast.

Now, with a Phase II drill program complete and more assays confirming solid grades, Astral Mining appears to be set for a renewed share price assessment.

“The thing to remember with this high-grade gold discovery is that it is located on the surface, several kilometers away from a paved highway, in a mining district with mills, smelters and power in close proximity, Kurschner said. “That makes a 500,000 to one million-ounce gold discovery much less risky than a 5 million-ounce low-grade discovery high in the Andes or in northern BC, where infrastructure costs can quickly make a project uneconomical even with the current high gold price.”

In 2007, Astral and JV Kootenay Gold (TSX.V: KTN) amassed an impressive database of assays from JJ. In November, the reported assays including 15.18 g/t gold over 4 m (incl. 1 m at 56.4 g/t gold); 7.74 g/t over 5 m (incl. 15.99 g/t over 2 m); 13.83 g/t over 3 m (incl. 35.6 g/t over 1 m); 8.28 g/t over 6 m, and 12.44 g/t gold over 8 m from hole 48 (incl. 26.9 g/t gold over 3 m). Similar or better results were achieved throughout the year.
Gold mineralization at JJ is hosted by structurally controlled quartz stockwork veining at the Main Zone, which has been intersected along 15 section lines over a strike length of 700 metres and to vertical depths of up to 225 metres below surface. The company is presently designing an aggressive exploration program for 2008, including additional drilling, a 3-D IP geophysical survey, and additional trenching and soil grids.
An updated NI 43-101 Resource Estimate is expected after the 2008 Phase 3 drilling results are completed and compiled. This will add value to a share price that is set to push beyond its present price ceiling.

Astral Mining has only 27 million shares(FD) outstanding and controls a 60% interest in the Jumping Josephine project.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Diversified Journey Resources Seeks Near Term Production

By Doug Hadfield

When the ancient Roman scholar Publilius Syrus said, “No pleasure endures unseasoned by variety,” he could well have been referring to mining companies. One trick ponies, as recent events are sure to prove again, live and die the by price of a single commodity, and as such, are more vulnerable to sudden or unexpected market movements than are polymetallic companies.

Just a year ago, you could have been in copper, precious metals, zinc, uranium or nickel, and you would have represented a safe exploration investment – all were quite bullish and each looked solid for the near future. Now base metals are under pressure with the threat of sluggish US economic growth, the price of uranium has taken a reality check, and gold, well, gold is better than ever.

Journey Resources (TSX.V: JNY) is one of those juniors that has an insurance policy against such unpredictability: The company is diversified in both commodity and locale.

At the top of Journey’s project list is a JV operation with Grenville Gold (TSX.V: GVG) known as the Silveria Mine, a past producer located in Peru.

I spoke with Journey’s President and CEO, Jack Bal, who described the project with superlatives, “Silveria, I believe, is one of the biggest silver deposits in Peru,” he said. “It’s the closest to production. It’s permitted. And we have a stockpile of ore. We’ve also secured a mill, which should be ready by October of 2008.”

To Bal, being near term on all his projects is a priority.
“We have three near term production stories, and we believe that to be successful in this market you have to go into production quickly. If you do too much exploration when the market’s not doing well, you’re going to dilute yourself in the long run.”

The Silveria JV deal stipulates that Journey can earn a 50% interest by spending no less than $6 million before December 1, 2008.

“All the money will go into the ground and take the project within the next 12 to 15 months into production at 500 tonnes per day,” Bal said. “We think it should generate significant cash flow – which we’ll get half of. We also have the opportunity to earn up to 75% by spending another 6 million on the project if Grenville Gold decides not to match funding with us.”

The joint venture indicates that Silveria will enjoy an injection of new cash, an increased pace of exploration, and a hastened move to production. A drill program is slated to begin by mid-February to see what mineralization remains within, around and under the old mine workings at the four existing past producing mines on the 10,000 acre property.

According to reports, past production from just two of the four mines totals some 50 million ounces of silver, plus lead, zinc and copper. There are an additional 2 million tonnes of tailings containing silver, lead, zinc and gold, which the partners are presently assessing for economic viability.

Next on the road to production for Journey is Vianey, a 50% owned, rehabilitated silver-lead-zinc mine located 250 km south of Mexico City in the state of Geurrero. The Vianey property is comprised of two blocks totalling 12,400 acres. Less than 2 kilometres away is the town of Atzcala, with water, telephone and medical facilities. The mine is already tied into the local power grid.

“We’ve spent the last two years rehabilitating the underground workings,” Bal explained. “It’s a relatively small mine and will most likely operate at 300 to 400 tonnes per day, but even with prices the way they are today, that will generate quite a bit of cash flow – for instance the rock at current metal prices is worth in excess of $300 per tonne rock, and at 300 tonnes per day, so if you add that up the numbers look good.”

Journey will begin an underground drilling program at Vianey this spring, with the goal of confirming high grade historical intercepts and expanding recent drilling.

A review of past calculations of potentially mineable tonnages of mineralization, including the most recent exploration activities completed in 1997 provides a total in all categories of 345,020 metric tonnes grading 2.13% lead, 3.66% zinc and 269 grams of silver per tonne.

“This is a high-grade deposit,” Bal said. “Between 8 and 10 ounces per tonne silver and also high in lead and zinc, so the grade is very good for the price of metals today. The previous owners couldn’t manage with prices at 1997 levels, so we picked it up for pennies. But at that time we’re talking about $5 silver and lead and zinc had collapsed – you know 30 to 40 cents per pound. They’re all three or four times that now.”

In terms of importance, Silveria and Vianey are first up to bat for Journey. But the company also has another inferred 313,822 ounces of gold in the ground on its 1,500 acre Musgrove Creek project in the Cobalt Mining District of Idaho. The Musgrove deposit has been intersected over a strike length of 400 metres, a width of 110 metres and to a depth of 150 metres. A 2006 NI 43-101-compliant report stated an Inferred Mineral Resource estimate of 8 million tonnes at 1.22g/t Au (0.036 oz/t) at a gold cut-off of 0.8 g/t.

Journey has re-opened approximately 4,700 feet (1,433 metres) of drill road and will drill nine holes for a total of 7,500 feet (2,286 metres). The drilling will test the main portion of the Ostrander Creek “gold-in-soil” anomaly delineated in 2004.

For this project, the company has also purchased it’s own drill, which effectively frees the company to do as much drilling as it wants for a fraction of the price.

Unlike the other two projects, Musgrove Creek is a bulk-tonnage, open pit candidate. Its grades and stripping ratio are – according to Jack Bal – very similar to the nearby Beartrack Mine, which Meridian Gold operated from 1996 to 2001.

“They reported average costs between $190 and $200 US per ounce of gold. They mined 650,000 ounces of gold. It was the first mine they put into production and it made Meridian Gold the company that it is. We’ve got similiar grades and stripping ratio,” Bal enthused.

Journey Resources offers investors several projects of merit, each with a light at the end of its tunnel. The company is diversified in multiple bullish commodities and its projects are located in countries that are politically stable and favorable to exploration. Also on the upside is an undiluted share structure, with 28,312,187 issued and outstanding and enough warrants to provide further cash without excessive dilution (5 million). In addition, many astute junior resource sector investors look for investments trading on the low side of their 12-month high/low. Journey is presently establishing a price floor of $0.26 per share, with a high/low of $0.45 and $0.22.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Harvest Gold's Rosebud Revival

By James West

Nevada is the home of the new business model in gold mining: Find a past-producing mine where lots of known ore-grade material was left behind during the deflated gold price era in the later nineties, and put it back into production. It’s a straightforward approach (for mining) that has a well established track record.

Harvest Gold (TSX.V:HVG) is planning just such a revival for the Rosebud Mine.

The Rosebud Mine property includes the Rosebud Mine and 54 claims covering approximately 1,115 acres in Pershing County in northwest Nevada, approximately five miles to the south of the Hycroft mine which produced more than 1,000,000 oz of gold and 2,000,000 oz of silver.

Harvest Gold holds an option to acquire a 100-per-cent interest in the Rosebud project, subject to a 3-per-cent net smelter return royalty, 50 per cent of which can be purchased for $2.25-million

The Rosebud Mine was a joint venture between Newmont Mining (NYSE:NEM) and Hecla Mining (NYSE:HL) that operated between 1997 and 2000. According to Hecla’s annual report,, the Rosebud mine produced 385, 450 oz of gold and 1,253,604 oz of silver between 1997 and 2000. The production was from a proven and probable reserve of 500,441 oz Au and 3,446,912 oz Ag (1996 Hecla annual report – Not N.I. 43-101 compliant).

Harvest’s plan is to focus on 3 areas: (1) Evaluation of historic gold mineralization that
remains on the property; (2) Exploration for near surface, high-grade gold mineralization
similar to that which has been discovered on the property in the past; and (3) Exploration for
large bodies of gold-silver mineralization at depth.

As disclosed in the Hecla Mining Co.'s 1999 annual report, “gold mineralization in the South, North and East zones, as in many other volcanic-hosted gold deposits, is erratically distributed with numerous low-grade drill hole intercepts interspersed with higher-grade drill hole intercepts over an area approximately 1,000 feet east-west by 1,000 feet north-south. Drilling has also intersected further mineralization proximal to the mine."

Hecla Mining's 1996 annual report quotes a Rosebud resource of 1,276,634 tons grading 0.392 ounce gold and 2.70 ounces silver per ton containing 500,441 ounces of gold and 3,446,912 ounces of silver at a cut-off grade of 0.18 ounce (5.2 grams) gold per ton. This pre-mining resource (1996) was not National Instrument 43-101-compliant, but was based on over 260,000 feet of surface and underground drilling in and around the mine area.

Besides the possibility of establishing an open-pit-style resource, the Rosebud gold mine area is considered to have excellent exploration potential for higher-grade gold and silver mineralization in several areas that were not included previously in the historic mine workings or resource calculations. This is supported by available data from historic drill holes in the Dreamland (1.9 metres of 25.4 grams per tonne (g/t) gold) and Northwest corridor (5.1 metres of 13.8 g/t gold and 3.9 metres of 16.2 g/t gold) areas, as well as other locations on the property.

Drilling on the Rosebud is expect to begin during mid to later summer this year on targets identified from soil samples using the “enzyme leach” process, a technique particularly well suited to Harvest because of the vast experience in that field of Harvest Gold (U.S.) President Greg Hill, who also just happens to be the President of the Geological Society of Nevada.

Also assisting in the interpretation of geophysical and geochemical data for drill target identification is Holly McLachlan, who spent two years as a geologist at the Hecla/Newmont Gold
Corp. Rosebud JV while the deposit was being mined. Her exploration and development efforts
there included mapping and managing surface core and RC rigs and an underground development core drilling program in order to delineate potential deposit extensions and new deposits.

The company has cash on hand thanks to the exercise of all of its warrants from a previous financing. Harvest’s press release of December 4, 2007 reported that 6,975,500 warrants had been exercised resulting in total proceeds of $1,395,100. The two year warrants were attached to Harvest Gold’s initial Plan of Arrangement financing, when the Company’s shares began trading in December, 2005. One warrant entitled the owner to purchase one common share of Harvest Gold for $0.20.

Harvest Gold’s business model of securing strong joint venture partners, when appropriate, is well known in Nevada and is renowned for assisting companies in preserving their cash.

Besides the Rosebud project, Harvest is exploring and evaluating each of its other eight properties: the Longstreet Mine Gold Property and the Garcia Flats Property in Nevada and the Assean Lake Gold Property, the Wyatt Claims, the Le Savage North and South Properties, the Con Claim, the Conley Estate Claim, and the Vena Claim, all in Manitoba.

KFG Resources Prepares for Seismic to Redevelop Salt Dome

By Doug Hadfield

In Mississippi, just a few kilometres from the town of Natchez, KFG Resources (TSX.V: KFG) is about to try something that CEO Bob Kadane believes will create significant value for his company’s shareholders.

Buried beneath the Fayette field is the Fayette salt dome – the last hydrocarbon-bearing salt dome of its kind in the region that has not been redeveloped. In February 2008, KFG will carry out the first 3D seismic imaging survey on the Fayette salt dome in which it holds a 100% working interest. The data from the seismic survey will be analysed with existing data from more than 100 well logs to determine the best fifteen or more targets for a drill program to be started this summer. The goal will be to drill through multiple oil and gas formations in the shallow Wilcox Formation (from 3,500 to 3,900) and the Lower Tuscaloosa (9,600 feet).

Salt domes like the Fayette were deposited millions of years ago when the shores of the Gulf of Mexico were located far inland from their current position. As waters evaporated, they left thick pockets of salt in layers. Over the millennia, these were buried by sand, soil and sediment. Over time, the thick layers of salt bowed in the centre and penetrated upward through the existing strata of rock – hence the “dome” shape of the structures. The salt is hard and impenetrable; the upward bending of the salt formed traps or pockets where oil and gas collected, often in large quantities.

There are numerous salt features located in the area surrounding Natchez. While most have been thoroughly explored and exploited from the 1930s until the present, the Fayette Salt Dome has seen only limited exploration.

Of the 4,000 acres that comprise the Fayette field and salt dome, only a fraction has been explored. Historically, exploration companies have drilled 29 deep holes on the east side of the dome. The west side, however, has only seen eight deep drill holes – which makes the west side a priority target.

The problem with mapping on the west side of the dome, Kadane says, “has been that the drill holes are too far apart to make any logical conclusions from the surface mapping (well logs). Some of them had small quantities of oil and gas production, so they could be the edge of a larger untapped reservoir. These old wells are 1,000 to 2,000 feet apart and you could have a reservoir easily run right between them and not even know it. And that’s what the seismic will tell us.”

3-D seismic surveys, or "seismics" as they are commonly called, use sound waves to locate rock formations in the earth that are associated with oil and gas. Acoustic vibrations are created either by a controlled explosion, or more often, by use of a vibration truck, which thumps the ground creating waves that radiate into the earth. The sound waves are reflected off subterranean rock, sediment, salt and other layers. The length of time required for the waves to travel through layers of varying densities is used to create a profile of the structure. With the use of computers, 3-D seismics have becomes incredibly detailed and complex. Billions of data points are compiled to create a three dimensional image of the underground structures thus dramatically reducing the element of chance in drilling wells.

Then there are the well logs from more than fifty previously drilled wells in the Fayette field. These well logs are like electric cardiogram images depicting a foot by foot image of the types of hydrocarbons present down a well hole. With the log data, the presence of hydrocarbons is measured up and down the drill hole and outward about 20 feet in all directions.

In addition, Kadane says, 3D seismic survey signatures will show areas of undepleted shallow gas as well as the undepleted oil reserves. In all, this adds up to a potentially huge amount of hydrocarbons.

Although KFG’s earlier plans to recomplete its existing three Lower Tuscaloosa gas condensate wells were successful, they represented only the initial phase of hydrocarbon recovery from the Fayette field. With those online, the Fayette Field is presently producing 20 barrels of oil and 250 MCF of gas per day. Kadane says these were just a fraction of what could be underground here.

“If I walk away from this with just five successful wells, I’m going to be disappointed, Kadane says.”

He points out that every other similar salt feature in the Gulf Region that has seen 3D seismic survey data used in conjunction with down-hole well log data has been successful in finding new oil and gas reservoirs in just about every producing horizon.

The Fayette field is structurally similar to oil company Denbury’s (NYSE: DNR) numerous projects in Louisiana and Mississippi, including other salt domes that Denbury has drilled for primary recovery or pumped CO2 into for secondary recovery. Denbury is one of the largest oil and natural gas operator in Mississippi and owns the largest reserves of CO2 used for secondary oil recovery east of the Mississippi River. In recent years, Denbury has systematically acquired many of the known salt formations throughout Mississippi and Louisiana.

“These old producing fields with salt features have been redeveloped by Denbury and others by doing exactly what we’re doing – 3D seismics and well logs – and then redrilling the areas and finding new reservoir traps, new fault traps, deeper beds, shallower beds. The reason there are still untapped resources down there is that using well logs alone didn’t give enough indication for the zones to be successfully tested for hydrocarbons.”

Historically, more than two million barrels of oil and 8 billion cubic feet of gas were produced from the Lower Tuscaloosa formation at Fayette. Kadane emphasises that most of the historical production was from the east side of the Fayette salt dome, which has seen most of the drilling.

“There no reason I can think of why the same or similar won’t be possible to find on the west side, where only eight holes have been drilled,” he points out.

While KFG focuses on drilling the untapped side of the salt dome, there remains another value-opportunity to consider as well. The Denbury model of secondary recovery using CO2 requires substantial capital to initiate, but is a very profitable model for that company. Kadane says the secondary model is one he is considering – once the company has the seismic data.

“It has been every economic for companies like Denbury to revisit these older depleted reservoirs throughout Louisiana and Mississippi,” Kadane says. “Another object of the 3D then is to figure out exactly where the old depleted reservoirs are so you’ll know where to put your injection wells for a secondary recovery project.

“We’ve already been approached by Denbury to sell Fayette and we would have done a JV, but I wasn’t about to sell it. They’ve done their homework – they know what’s there.”

KFG Resources has 42,147,311 net shares outstanding and presently trades at $0.09 per share.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

KFG Resources Prepares for Seismic to Redevelop Salt Dome

By Doug Hadfield

In Mississippi, just a few kilometres from the town of Natchez, KFG Resources (TSX.V: KFG) is about to try something that CEO Bob Kadane believes will create significant value for his company’s shareholders.

Buried beneath the Fayette field is the Fayette salt dome – the last hydrocarbon-bearing salt dome of its kind in the region that has not been redeveloped. In February 2008, KFG will carry out the first 3D seismic imaging survey on the Fayette salt dome in which it holds a 100% working interest. The data from the seismic survey will be analysed with existing data from more than 100 well logs to determine the best fifteen or more targets for a drill program to be started this summer. The goal will be to drill through multiple oil and gas formations in the shallow Wilcox Formation (from 3,500 to 3,900) and the Lower Tuscaloosa (9,600 feet).

Salt domes like the Fayette were deposited millions of years ago when the shores of the Gulf of Mexico were located far inland from their current position. As waters evaporated, they left thick pockets of salt in layers. Over the millennia, these were buried by sand, soil and sediment. Over time, the thick layers of salt bowed in the centre and penetrated upward through the existing strata of rock – hence the “dome” shape of the structures. The salt is hard and impenetrable; the upward bending of the salt formed traps or pockets where oil and gas collected, often in large quantities.

There are numerous salt features located in the area surrounding Natchez. While most have been thoroughly explored and exploited from the 1930s until the present, the Fayette Salt Dome has seen only limited exploration.

Of the 4,000 acres that comprise the Fayette field and salt dome, only a fraction has been explored. Historically, exploration companies have drilled 29 deep holes on the east side of the dome. The west side, however, has only seen eight deep drill holes – which makes the west side a priority target.

The problem with mapping on the west side of the dome, Kadane says, “has been that the drill holes are too far apart to make any logical conclusions from the surface mapping (well logs). Some of them had small quantities of oil and gas production, so they could be the edge of a larger untapped reservoir. These old wells are 1,000 to 2,000 feet apart and you could have a reservoir easily run right between them and not even know it. And that’s what the seismic will tell us.”

3-D seismic surveys, or "seismics" as they are commonly called, use sound waves to locate rock formations in the earth that are associated with oil and gas. Acoustic vibrations are created either by a controlled explosion, or more often, by use of a vibration truck, which thumps the ground creating waves that radiate into the earth. The sound waves are reflected off subterranean rock, sediment, salt and other layers. The length of time required for the waves to travel through layers of varying densities is used to create a profile of the structure. With the use of computers, 3-D seismics have becomes incredibly detailed and complex. Billions of data points are compiled to create a three dimensional image of the underground structures thus dramatically reducing the element of chance in drilling wells.

Then there are the well logs from more than fifty previously drilled wells in the Fayette field. These well logs are like electric cardiogram images depicting a foot by foot image of the types of hydrocarbons present down a well hole. With the log data, the presence of hydrocarbons is measured up and down the drill hole and outward about 20 feet in all directions.

In addition, Kadane says, 3D seismic survey signatures will show areas of undepleted shallow gas as well as the undepleted oil reserves. In all, this adds up to a potentially huge amount of hydrocarbons.

Although KFG’s earlier plans to recomplete its existing three Lower Tuscaloosa gas condensate wells were successful, they represented only the initial phase of hydrocarbon recovery from the Fayette field. With those online, the Fayette Field is presently producing 20 barrels of oil and 250 MCF of gas per day. Kadane says these were just a fraction of what could be underground here.

“If I walk away from this with just five successful wells, I’m going to be disappointed, Kadane says.”

He points out that every other similar salt feature in the Gulf Region that has seen 3D seismic survey data used in conjunction with down-hole well log data has been successful in finding new oil and gas reservoirs in just about every producing horizon.

The Fayette field is structurally similar to oil company Denbury’s (NYSE: DNR) numerous projects in Louisiana and Mississippi, including other salt domes that Denbury has drilled for primary recovery or pumped CO2 into for secondary recovery. Denbury is one of the largest oil and natural gas operator in Mississippi and owns the largest reserves of CO2 used for secondary oil recovery east of the Mississippi River. In recent years, Denbury has systematically acquired many of the known salt formations throughout Mississippi and Louisiana.

“These old producing fields with salt features have been redeveloped by Denbury and others by doing exactly what we’re doing – 3D seismics and well logs – and then redrilling the areas and finding new reservoir traps, new fault traps, deeper beds, shallower beds. The reason there are still untapped resources down there is that using well logs alone didn’t give enough indication for the zones to be successfully tested for hydrocarbons.”

Historically, more than two million barrels of oil and 8 billion cubic feet of gas were produced from the Lower Tuscaloosa formation at Fayette. Kadane emphasises that most of the historical production was from the east side of the Fayette salt dome, which has seen most of the drilling.

“There no reason I can think of why the same or similar won’t be possible to find on the west side, where only eight holes have been drilled,” he points out.

While KFG focuses on drilling the untapped side of the salt dome, there remains another value-opportunity to consider as well. The Denbury model of secondary recovery using CO2 requires substantial capital to initiate, but is a very profitable model for that company. Kadane says the secondary model is one he is considering – once the company has the seismic data.

“It has been every economic for companies like Denbury to revisit these older depleted reservoirs throughout Louisiana and Mississippi,” Kadane says. “Another object of the 3D then is to figure out exactly where the old depleted reservoirs are so you’ll know where to put your injection wells for a secondary recovery project.

“We’ve already been approached by Denbury to sell Fayette and we would have done a JV, but I wasn’t about to sell it. They’ve done their homework – they know what’s there.”

KFG Resources has 42,147,311 net shares outstanding and presently trades at $0.09 per share.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Bard Ventures 2007 Drilling Ends on a High Note, 2008 Drilling Continues

By James West

Bard Ventures (TSX.V:CBS) recently completed two phases of drilling 23 on its Lone Pine Property near Houston in northwestern British Columbia.

The best hole in that program, (assays are still pending for the remainder of Phase 2) was a 12 meter intersection grading 0.27 % Molybdenum, confirming the presence of higher grade concentrations within a lower grade disseminated body. (0.1% Molybdenum is equal to 2 lbs. per short ton).

Other highlights from the program include:

Phase I highlights:

• BD-07-01 returned 0.05% MoS2 over the entire length of 490.10 metres, which included two higher grade zones of 0.078% MoS2 over 42.9 m from 17.0 m to 59.9 m and 0.081% MoS2 over 102.3 metres from 257.7 m to 360.0 m.

• BD-07-02 returned 0.07% MoS2 over the entire 489.4 meters, including a 231.4 meter interval of 0.095% MoS2.

• BD-07-03 intersected higher grade intervals in excess of 12 meters at 0.27% MoS2.

Phase II highlights:

Granby Zone:

A single drill hole was designed for the Granby Zone and this drill hole was to twin the 1978 historical percussion hole M-3 which returned 0.176% Mo (0.29% MoS2) over 36.6m. Drill hole BD-07-11encountered altered dioritic rocks through to 122.0m before being shutdown due to extreme blocky conditions and faulted corridors that made drilling too difficult. BD-07-12 was then targeted 10m to the north of the M-3 historical collar and drilled to a depth of 254.0m. Drilling intersected altered hornfels and intercalated dioritic rocks with visible molybdenum observed in quartz veining and within the matrix of the brecciated corridors. Assays are pending.

This area will be revisited in the new year to better delineate the faulted corridor in and around M-3 and BD-07-11 and the associated lineament expressed in the geophysical data.

Alaskite Zone:

Thirteen holes were drilled in the Alaskite Zone during the second phase of drilling between September and December 2007. Drill holes BD-07-08, 07-09, 07-13, 07-14, 07-15, 07-16, 07-17, 07-18, 07-19, and BD-07-20 targeted IP chargeability and resistivity anomalies that showed potential for molybdenum mineralization. Drill holes BD-07-21 and BD-07-23 targeted geophysical magnetic anomalies associated with the alaskite intrusive. A pattern of testing these anomalies was based around historical geophysical data and historical trenching and drilling data as well the favorable assay results returned in drillhole BD-07-01.

All of the above mentioned drill holes encountered variable amounts of visible molybdenum throughout their entire drill lengths, in particular drill holes BD-07-09, BD-07-13, BD-07-15, BD-07-16, BD-07-21 and BD-07-23. Drill holes 07-15 and 07-16 targeted the northwest trending alaskite intrusive that was originally mapped on surface in 1969. Both drill holes encountered >100 meters of mineralized alaskite and favorable quartz veining that extended into the underlain hornfels andesites. These drill holes have continued to confirm the northwest strike to the Alaskite intrusive.

Drill holes 07-09 and 07-13 were drilled ~100m north of BD-07-01 and were testing an IP anomaly outside of the known alaskite intrusive. Both drill holes exhibited moderate to strong fracturing throughout their lengths and moderate quartz veining throughout. Both drill holes were shutdown in a coarse grained intrusive rock. Assays are pending for BD-07-13, BD-07-15 and BD-07-16.

Drill holes BD-07-21 and BD-07-23 were designed as angle holes to better delineate the alaskite intrusive and provide better geological information regarding the width and depth of the alaskite intrusive. BD-07-21 intersected 93 metres of alaskite with favorable veining and molybdenum mineralization, while BD-07-23 intersected 344 metres of alaskite from collar to the end of the hole with very encouraging intense veining and visible molybdenum throughout the entire hole length.

Drill hole BD-07-22 was designed to target the eastern granitic pluton approximately 100 meters east of BD-07-09. The BD-07-09 drill pad was used for this drill hole, and the drill was turned to an azimuth of 090 and drilled at an angle of -45 dip. Hornfels and intrusive were intersected where anticipated, thus adding to the current geological model that this eastern pluton has a strike that mimics the western alaskite intrusive to the southwest.

Mid Zone

Drill hole BD-07-10 was drilled to the northeast of the Alaskite Zone, on the road between the Alaskite Zone and the Granby Zone. It too was situated on a broad geophysical anomaly and encountered molybdenum mineralization hosted in vertical quartz veinlets within a dioritic intrusive below 250 meters.

Summary

An extensive drill program is planned for the new year and drilling will follow up on many of the favorable drill holes to date, in particular the drill holes intersecting the alaskite intrusive in and around drill hole BD-07-15 and BD-07-23. Drilling of the Quartz Breccia Zone will also commence in the new year as road conditions are at their best and follow up on the anomalous areas around BD-07-02 is a priority.

Exploration or mining activities have been conducted on and around the area of the Lone Pine Claims since early in the last century, with a considerable amount of geological, geophysical, and geochemical work having been done on the Property since 1976. A number of different companies have worked on the Property previously, including Canex Aerial Exploration Ltd., Molymines Exploration Limited, Cominco Ltd., Granby Mining Company and Noranda Mining and Exploration Inc. Several programs of diamond and reverse circulation drilling have been conducted on the Property since the mid seventies; the most notable of which was the program in 1978 where a hole drilled in the Quartz Breccia Zone returned 356.3 meters of 0.068% MoS2 from 20.7 to 377 meters which includes 154 meters of 0.088% MoS2 from 181 to 335 meters.

Additionally, a second deeper diamond drill hole drilled during this program, which was drilled in the Alaskite Zone, returned 343.7 meters of 0.06% MoS2 from 3.6 to 352.3 meters, including 101.4 meters of 0.078% MoS2 from 3.6 to 105 meters. Both of the above drill holes were terminated in mineralization. However, for the most part, past programs tended to be fairly limited in scope, with most drilling being confined to probing shallowly beneath known surface mineralization, and no effort has ever been made to determine whether there is any lateral continuity to mineralization noted above, or whether higher grade mineralization exists nearby which correlates to the mineralization noted to occur in these two drill holes which were drilled approximately one kilometer apart.

Bard Ventures 2007 Drilling Ends on a High Note, 2008 Drilling Continues

By James West

Bard Ventures (TSX.V:CBS) recently completed two phases of drilling 23 on its Lone Pine Property near Houston in northwestern British Columbia.

The best hole in that program, (assays are still pending for the remainder of Phase 2) was a 12 meter intersection grading 0.27 % Molybdenum, confirming the presence of higher grade concentrations within a lower grade disseminated body. (0.1% Molybdenum is equal to 2 lbs. per short ton).

Other highlights from the program include:

Phase I highlights:

• BD-07-01 returned 0.05% MoS2 over the entire length of 490.10 metres, which included two higher grade zones of 0.078% MoS2 over 42.9 m from 17.0 m to 59.9 m and 0.081% MoS2 over 102.3 metres from 257.7 m to 360.0 m.

• BD-07-02 returned 0.07% MoS2 over the entire 489.4 meters, including a 231.4 meter interval of 0.095% MoS2.

• BD-07-03 intersected higher grade intervals in excess of 12 meters at 0.27% MoS2.

Phase II highlights:

Granby Zone:

A single drill hole was designed for the Granby Zone and this drill hole was to twin the 1978 historical percussion hole M-3 which returned 0.176% Mo (0.29% MoS2) over 36.6m. Drill hole BD-07-11encountered altered dioritic rocks through to 122.0m before being shutdown due to extreme blocky conditions and faulted corridors that made drilling too difficult. BD-07-12 was then targeted 10m to the north of the M-3 historical collar and drilled to a depth of 254.0m. Drilling intersected altered hornfels and intercalated dioritic rocks with visible molybdenum observed in quartz veining and within the matrix of the brecciated corridors. Assays are pending.

This area will be revisited in the new year to better delineate the faulted corridor in and around M-3 and BD-07-11 and the associated lineament expressed in the geophysical data.

Alaskite Zone:

Thirteen holes were drilled in the Alaskite Zone during the second phase of drilling between September and December 2007. Drill holes BD-07-08, 07-09, 07-13, 07-14, 07-15, 07-16, 07-17, 07-18, 07-19, and BD-07-20 targeted IP chargeability and resistivity anomalies that showed potential for molybdenum mineralization. Drill holes BD-07-21 and BD-07-23 targeted geophysical magnetic anomalies associated with the alaskite intrusive. A pattern of testing these anomalies was based around historical geophysical data and historical trenching and drilling data as well the favorable assay results returned in drillhole BD-07-01.

All of the above mentioned drill holes encountered variable amounts of visible molybdenum throughout their entire drill lengths, in particular drill holes BD-07-09, BD-07-13, BD-07-15, BD-07-16, BD-07-21 and BD-07-23. Drill holes 07-15 and 07-16 targeted the northwest trending alaskite intrusive that was originally mapped on surface in 1969. Both drill holes encountered >100 meters of mineralized alaskite and favorable quartz veining that extended into the underlain hornfels andesites. These drill holes have continued to confirm the northwest strike to the Alaskite intrusive.

Drill holes 07-09 and 07-13 were drilled ~100m north of BD-07-01 and were testing an IP anomaly outside of the known alaskite intrusive. Both drill holes exhibited moderate to strong fracturing throughout their lengths and moderate quartz veining throughout. Both drill holes were shutdown in a coarse grained intrusive rock. Assays are pending for BD-07-13, BD-07-15 and BD-07-16.

Drill holes BD-07-21 and BD-07-23 were designed as angle holes to better delineate the alaskite intrusive and provide better geological information regarding the width and depth of the alaskite intrusive. BD-07-21 intersected 93 metres of alaskite with favorable veining and molybdenum mineralization, while BD-07-23 intersected 344 metres of alaskite from collar to the end of the hole with very encouraging intense veining and visible molybdenum throughout the entire hole length.

Drill hole BD-07-22 was designed to target the eastern granitic pluton approximately 100 meters east of BD-07-09. The BD-07-09 drill pad was used for this drill hole, and the drill was turned to an azimuth of 090 and drilled at an angle of -45 dip. Hornfels and intrusive were intersected where anticipated, thus adding to the current geological model that this eastern pluton has a strike that mimics the western alaskite intrusive to the southwest.

Mid Zone

Drill hole BD-07-10 was drilled to the northeast of the Alaskite Zone, on the road between the Alaskite Zone and the Granby Zone. It too was situated on a broad geophysical anomaly and encountered molybdenum mineralization hosted in vertical quartz veinlets within a dioritic intrusive below 250 meters.

Summary

An extensive drill program is planned for the new year and drilling will follow up on many of the favorable drill holes to date, in particular the drill holes intersecting the alaskite intrusive in and around drill hole BD-07-15 and BD-07-23. Drilling of the Quartz Breccia Zone will also commence in the new year as road conditions are at their best and follow up on the anomalous areas around BD-07-02 is a priority.

Exploration or mining activities have been conducted on and around the area of the Lone Pine Claims since early in the last century, with a considerable amount of geological, geophysical, and geochemical work having been done on the Property since 1976. A number of different companies have worked on the Property previously, including Canex Aerial Exploration Ltd., Molymines Exploration Limited, Cominco Ltd., Granby Mining Company and Noranda Mining and Exploration Inc. Several programs of diamond and reverse circulation drilling have been conducted on the Property since the mid seventies; the most notable of which was the program in 1978 where a hole drilled in the Quartz Breccia Zone returned 356.3 meters of 0.068% MoS2 from 20.7 to 377 meters which includes 154 meters of 0.088% MoS2 from 181 to 335 meters.

Additionally, a second deeper diamond drill hole drilled during this program, which was drilled in the Alaskite Zone, returned 343.7 meters of 0.06% MoS2 from 3.6 to 352.3 meters, including 101.4 meters of 0.078% MoS2 from 3.6 to 105 meters. Both of the above drill holes were terminated in mineralization. However, for the most part, past programs tended to be fairly limited in scope, with most drilling being confined to probing shallowly beneath known surface mineralization, and no effort has ever been made to determine whether there is any lateral continuity to mineralization noted above, or whether higher grade mineralization exists nearby which correlates to the mineralization noted to occur in these two drill holes which were drilled approximately one kilometer apart.

ValGold Adds Value for Investors in Fish Creek Venture

By Craig Thompson

Graham Davis of the Colorado School of Mines recently noted that Peter Tufano of Harvard University measured the sensitivity of gold company value to changes in gold price and discovered that a 1% change in gold price typically caused a 2% change in mining company value. If this is the case, the last year has certainly created billions in value around the globe as gold jumped 47% from $600 to about $880 in just 12 months. From majors like Barrick Gold (TSX:ABX) to juniors like ValGold Resources (TSX.V:VAL), 2007 was a year of phenomenal growth in the potential for profit in the gold industry.

Yet something else we have been witness to is that the share price of most gold companies, while some growth has occurred, has lagged behind this skyrocketing price of gold and the attendant increase in company valuation. To my mind this has created great openings for potential reward in the junior resource market in the sense that while the reward for discovery will be greater than ever, share prices are at present little changed by this reality. So, many companies are at present undervalued.

ValGold recently released a NI 43-101 report that I think illustrates this point clearly. The company is a real go-getter in the sense of acquiring a project, quickly identifying targets, drilling the hell out of it and then – when the time comes – taking it to the next phase or optioning it and moving to the next thing. All this in search of a “company maker”, as the expression goes.

It’s possible that ValGold may have hooked onto something big this time around, however, not only at its Los Patos concessions in Venezuela and Tower Mountain in Thunder Bay, Ontario, but also at its new Fish Creek property in Guyana, which is the subject of the 43-101 technical report.

In late November, the company announced high-grade assays from the Tower Mountain Gold Property, located in the Matawin Gold Belt, 40 km southwest of Thunder Bay, in Ontario. Intersections of high-grade gold occurred in TM-07-56, where 1.5m graded 58.20 g/Tonne Au (1.697 oz/t gold) and in TM-07-58 where 1.5m averaged 18.70 g/Tonne Au (0.545 oz/t gold).

In Venezuela, a growing pool of data including assay results from a 2007 drill program at the Los Patos occurrence is leading toward a NI 43-101 compliant resource estimate, which is expected within a few months. ValGold’s concessions also contain a number of gold occurrences that are considered highly prospective.

The newly available data from the Fish Creek project in Guyana should add new fuel to the fire.

Historic exploration for alluvial gold and diamonds in central and northern Guyana dates back to about 1887, with alluvial gold workings in the larger area surrounding the Fish Creek project dating from about 1900 onwards.

The only systematic modern exploration at Fish Creek took place between 1994 and 1997 when Golden Star Resources (TSX.V:GXX.H) completed four distinct phases of exploration, including geological mapping, stream sediment sampling, soil sampling, trenching, deep auger sampling, ground magnetometer survey and diamond drilling.

ValGold now owns all of this invaluable data.

What is most interesting about the mineralization uncovered by Golden Star is that it is very widely disseminated throughout all tested areas, both where previous workings were identified and in areas where no historical artisan mining occurred.

For example, drill holes FI-96/9 and FI-96/10 were drilled to test an auger sample that assayed 20.7 g/t Au located over the fault-thrust contact in an area of high geochemical gold response. This was a historic mining site with gold workings and visible gold in tailings and pits. Hole 10 intersected 2 metres of 33.98 g/t Au in altered andesitic rock containing vuggy quartz carbonate veins with up to 10% sulphides.

This was at the high end of the mineralization found on the property, but only in terms of grade. Throughout the property, over an unusually broad area, gold in soils were found to occur in the 50 to 100 ppb (0.05 to 0.1 g/t) Au range and within those areas more concentrated gold values of greater than 100 ppb (0.1 g/t). These appear to exist within a major fault structure over at least six kilometres.

Throughout the Fish Creek property, the independent author of the NI 43-101 report determined that “sporadic and discontinuous gold mineralization is present at relatively shallow levels in metamorphosed volcanics, sediments and intrusive rocks of the central and northern parts of the licence area.”

What he found mysterious, however, was that although these were large swathes of soils with exceptional gold enrichment, including 6 km x 2 km in the south and 3 km x 2 km in the north, none of the drilling carried out by Golden Star offered an explanation – a source – for the mineralization. This tells us two things – that much work remains to be done to determine solid drilling targets, and that there are possibly much greater grades at depth that would explain the very broadly disseminated gold in soils.

At the time of writing, ValGold’s VP of Exploration, Tom Pollock, had begun to assemble an exploration team for the Fish Creek project in Guyana, including a country manager and two field geologist positions. Together the new team will expend as much as $860,000 (as per the NI 43-101 recommendations) in the next 12 to 16 months to complete a review of historical work, follow up trenching and some drilling, with the ultimate goal of finding the deeper source of sub-surface gold mineralization indicated by previous drilling.

This project adds substantially to ongoing work elsewhere, in Venezuela (which, if you haven’t read about and you’re an investor, you should: http://www.resourcexinvestor.com/news.php?id=3175) and Canada. Fish Creek represents further diversification and value for a junior that has inexplicably come down in price since the summer doldrums, in spite of the runaway price of gold.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

ValGold Adds Value for Investors in Fish Creek Venture

By Craig Thompson

Graham Davis of the Colorado School of Mines recently noted that Peter Tufano of Harvard University measured the sensitivity of gold company value to changes in gold price and discovered that a 1% change in gold price typically caused a 2% change in mining company value. If this is the case, the last year has certainly created billions in value around the globe as gold jumped 47% from $600 to about $880 in just 12 months. From majors like Barrick Gold (TSX:ABX) to juniors like ValGold Resources (TSX.V:VAL), 2007 was a year of phenomenal growth in the potential for profit in the gold industry.

Yet something else we have been witness to is that the share price of most gold companies, while some growth has occurred, has lagged behind this skyrocketing price of gold and the attendant increase in company valuation. To my mind this has created great openings for potential reward in the junior resource market in the sense that while the reward for discovery will be greater than ever, share prices are at present little changed by this reality. So, many companies are at present undervalued.

ValGold recently released a NI 43-101 report that I think illustrates this point clearly. The company is a real go-getter in the sense of acquiring a project, quickly identifying targets, drilling the hell out of it and then – when the time comes – taking it to the next phase or optioning it and moving to the next thing. All this in search of a “company maker”, as the expression goes.

It’s possible that ValGold may have hooked onto something big this time around, however, not only at its Los Patos concessions in Venezuela and Tower Mountain in Thunder Bay, Ontario, but also at its new Fish Creek property in Guyana, which is the subject of the 43-101 technical report.

In late November, the company announced high-grade assays from the Tower Mountain Gold Property, located in the Matawin Gold Belt, 40 km southwest of Thunder Bay, in Ontario. Intersections of high-grade gold occurred in TM-07-56, where 1.5m graded 58.20 g/Tonne Au (1.697 oz/t gold) and in TM-07-58 where 1.5m averaged 18.70 g/Tonne Au (0.545 oz/t gold).

In Venezuela, a growing pool of data including assay results from a 2007 drill program at the Los Patos occurrence is leading toward a NI 43-101 compliant resource estimate, which is expected within a few months. ValGold’s concessions also contain a number of gold occurrences that are considered highly prospective.

The newly available data from the Fish Creek project in Guyana should add new fuel to the fire.

Historic exploration for alluvial gold and diamonds in central and northern Guyana dates back to about 1887, with alluvial gold workings in the larger area surrounding the Fish Creek project dating from about 1900 onwards.

The only systematic modern exploration at Fish Creek took place between 1994 and 1997 when Golden Star Resources (TSX.V:GXX.H) completed four distinct phases of exploration, including geological mapping, stream sediment sampling, soil sampling, trenching, deep auger sampling, ground magnetometer survey and diamond drilling.

ValGold now owns all of this invaluable data.

What is most interesting about the mineralization uncovered by Golden Star is that it is very widely disseminated throughout all tested areas, both where previous workings were identified and in areas where no historical artisan mining occurred.

For example, drill holes FI-96/9 and FI-96/10 were drilled to test an auger sample that assayed 20.7 g/t Au located over the fault-thrust contact in an area of high geochemical gold response. This was a historic mining site with gold workings and visible gold in tailings and pits. Hole 10 intersected 2 metres of 33.98 g/t Au in altered andesitic rock containing vuggy quartz carbonate veins with up to 10% sulphides.

This was at the high end of the mineralization found on the property, but only in terms of grade. Throughout the property, over an unusually broad area, gold in soils were found to occur in the 50 to 100 ppb (0.05 to 0.1 g/t) Au range and within those areas more concentrated gold values of greater than 100 ppb (0.1 g/t). These appear to exist within a major fault structure over at least six kilometres.

Throughout the Fish Creek property, the independent author of the NI 43-101 report determined that “sporadic and discontinuous gold mineralization is present at relatively shallow levels in metamorphosed volcanics, sediments and intrusive rocks of the central and northern parts of the licence area.”

What he found mysterious, however, was that although these were large swathes of soils with exceptional gold enrichment, including 6 km x 2 km in the south and 3 km x 2 km in the north, none of the drilling carried out by Golden Star offered an explanation – a source – for the mineralization. This tells us two things – that much work remains to be done to determine solid drilling targets, and that there are possibly much greater grades at depth that would explain the very broadly disseminated gold in soils.

At the time of writing, ValGold’s VP of Exploration, Tom Pollock, had begun to assemble an exploration team for the Fish Creek project in Guyana, including a country manager and two field geologist positions. Together the new team will expend as much as $860,000 (as per the NI 43-101 recommendations) in the next 12 to 16 months to complete a review of historical work, follow up trenching and some drilling, with the ultimate goal of finding the deeper source of sub-surface gold mineralization indicated by previous drilling.

This project adds substantially to ongoing work elsewhere, in Venezuela (which, if you haven’t read about and you’re an investor, you should: http://www.resourcexinvestor.com/news.php?id=3175) and Canada. Fish Creek represents further diversification and value for a junior that has inexplicably come down in price since the summer doldrums, in spite of the runaway price of gold.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Raytec Metals Options More Iron Ore in Ontario

By Doug Hadfield

It may not be the sexiest of metals to investors, but iron is also arguably one of the most important. That was the message of Brian Thurston, President of Raytec Metals Corp. (TSX.V: RAY) in a recent interview with Resourcex.com. The junior exploration company has turned its focus from uranium in the Athabasca Basin to iron ore in Ontario and South America.

“The young juniors that have moved to iron ore in Canada are doing very well,” Thurston observed. “Sure, it’s not as sexy as gold, but iron is a hot commodity. Since 2004 its price has more than doubled. In 2007 it was predicted for an almost 10% increase again and we’re looking for another more than 25% gain in 2008.”

Although iron happens to be the second most abundant metal in the earth’s crust (after aluminium), it is increasingly difficult to meet demand for the metal. Demand for iron grows at approximately 10% per annum, driven principally by growth in both developing and Western countries including China, Japan, Korea, the US and EU.

Meanwhile, the world’s big three producers – CVRD, Rio Tinto, and BHP Billiton – are finding it increasingly difficult to keep production in line with global demand. The result has been price increases completely out of proportion with historical averages. Based on a 2007 TEX report, prices for iron ore pellets have risen from $30 per Dry Metric Tonne (DMT) in 2002 to over $70/DMT in 2007 (based on Eastern Canadian Pellet Price with 64% iron content).

According to a 2007 report from Lehman Brothers, the contract price of iron ore has risen in each of the past five years to a record even as China boosted steel output. Prices will gain another 50 percent this year on massive demand from China, the investment bank stated.

Raytec announced its first iron ore acquisition on November 29, 2007, and at the time of writing was about to announce another two, for a total of three iron ore properties in Ontario.

The first project in its portfolio is the El Sol Historic Iron Ore Project, which is located in the Red Lake Mining District of Ontario.

Extensive drilling and metallurgical testing were conducted on El Sol between 1956 and 1957. Airborne and ground magnetic surveys defined two large parallel magnetic anomalies, with the "A" zone measuring in excess of 4 km in length and the "B" zone measuring in excess of 2 km in strike length.

A total of 67 diamond drill holes totalling 10,363 meters were drilled on these two zones, identifying a historic resource of 312 million tons grading 32.4% iron to a depth of 300 meters. Two holes were drilled below the 300-meter (984 feet) level and showed no significant changes in grade, the company stated.

Additionally, “From knowledge of similar iron formations in the area, notably at Central Patricia Gold Mines Ltd. where mining for gold in iron formation was carried to a depth of 1220m (4,000 feet), it may be inferred that similar depths may be encountered at El Sol.”

Now the company plans to do magnetic surveys and start drilling as soon as possible to move the historic resource calculations into an updated, increased and NI 43-101 compliant resource.

“There is very little field work needed on this property before we can get a drill on there and see what we have. Since it’s already been drilled we’re just going in there to prove up what we know and see what we can add to it.”

Although Raytec is focussed on iron ore, it was an attraction to uranium that saw them move into the junior exploration business in the first place. In early 2007, Raytec Metals Corp. (TSX.V: RAY) jumped onto the Athabasca Basin uranium scene with a newly formed team and a package of 17 uranium claims in the Athabasca Basin.

“The uranium plays got us into the market and a change of business,” Thurston explained. “We feel very strongly about our uranium JVs. We’ve got the Key Lake West and East properties, which are very promising. Any one of those could be a company maker. Plus we’ve got Triex in there, and they’ve got a lot of really competent people on their team and they’ve got the exploration capital, so we’re happy with that in their hands.”

Raytec Metals Options More Iron Ore in Ontario

By Doug Hadfield

It may not be the sexiest of metals to investors, but iron is also arguably one of the most important. That was the message of Brian Thurston, President of Raytec Metals Corp. (TSX.V: RAY) in a recent interview with Resourcex.com. The junior exploration company has turned its focus from uranium in the Athabasca Basin to iron ore in Ontario and South America.

“The young juniors that have moved to iron ore in Canada are doing very well,” Thurston observed. “Sure, it’s not as sexy as gold, but iron is a hot commodity. Since 2004 its price has more than doubled. In 2007 it was predicted for an almost 10% increase again and we’re looking for another more than 25% gain in 2008.”

Although iron happens to be the second most abundant metal in the earth’s crust (after aluminium), it is increasingly difficult to meet demand for the metal. Demand for iron grows at approximately 10% per annum, driven principally by growth in both developing and Western countries including China, Japan, Korea, the US and EU.

Meanwhile, the world’s big three producers – CVRD, Rio Tinto, and BHP Billiton – are finding it increasingly difficult to keep production in line with global demand. The result has been price increases completely out of proportion with historical averages. Based on a 2007 TEX report, prices for iron ore pellets have risen from $30 per Dry Metric Tonne (DMT) in 2002 to over $70/DMT in 2007 (based on Eastern Canadian Pellet Price with 64% iron content).

According to a 2007 report from Lehman Brothers, the contract price of iron ore has risen in each of the past five years to a record even as China boosted steel output. Prices will gain another 50 percent this year on massive demand from China, the investment bank stated.

Raytec announced its first iron ore acquisition on November 29, 2007, and at the time of writing was about to announce another two, for a total of three iron ore properties in Ontario.

The first project in its portfolio is the El Sol Historic Iron Ore Project, which is located in the Red Lake Mining District of Ontario.

Extensive drilling and metallurgical testing were conducted on El Sol between 1956 and 1957. Airborne and ground magnetic surveys defined two large parallel magnetic anomalies, with the "A" zone measuring in excess of 4 km in length and the "B" zone measuring in excess of 2 km in strike length.

A total of 67 diamond drill holes totalling 10,363 meters were drilled on these two zones, identifying a historic resource of 312 million tons grading 32.4% iron to a depth of 300 meters. Two holes were drilled below the 300-meter (984 feet) level and showed no significant changes in grade, the company stated.

Additionally, “From knowledge of similar iron formations in the area, notably at Central Patricia Gold Mines Ltd. where mining for gold in iron formation was carried to a depth of 1220m (4,000 feet), it may be inferred that similar depths may be encountered at El Sol.”

Now the company plans to do magnetic surveys and start drilling as soon as possible to move the historic resource calculations into an updated, increased and NI 43-101 compliant resource.

“There is very little field work needed on this property before we can get a drill on there and see what we have. Since it’s already been drilled we’re just going in there to prove up what we know and see what we can add to it.”

Although Raytec is focussed on iron ore, it was an attraction to uranium that saw them move into the junior exploration business in the first place. In early 2007, Raytec Metals Corp. (TSX.V: RAY) jumped onto the Athabasca Basin uranium scene with a newly formed team and a package of 17 uranium claims in the Athabasca Basin.

“The uranium plays got us into the market and a change of business,” Thurston explained. “We feel very strongly about our uranium JVs. We’ve got the Key Lake West and East properties, which are very promising. Any one of those could be a company maker. Plus we’ve got Triex in there, and they’ve got a lot of really competent people on their team and they’ve got the exploration capital, so we’re happy with that in their hands.”

Soltera Mining Developing Historic Argentine Goldmine

By James West

Some of the largest gold deposits in the world are currently under development in Argentina, a country whose past political problems have precluded the exploration over the bulk of its vast 2.8 million square kilometers.

Barrick (NYSE:ABX) is developing the $2.4 billion Pascua-Lama project, Pascua-Lama has proven and probable reserves of 17.0 million ounces of gold, and contains 689 million ounces of silver, and 565 million pounds of copper, within the gold reserves. It has an estimated mine life of 23 years. Located on the border of Argentina and Chile, this project will benefit from existing infrastructure, processing, staffing, and community development programs at Barrick’s Veladero mine, within ten kilometers.

Soltera Mining (OTCBB:SLTA, Frankfurt: SN7) is also developing a past producing mine with the potential to prove up a sizable deposit.

The El Torno project is located in the Andean Cordillera in the extreme northwest of Argentina near the international borders with Bolivia and Chile. The property consists of five mining rights covering a total area of 7,800 hectares. Soltera has an agreement with the titleholder that includes payments totaling US$350,000 to June 2010 and an obligation to spend US$1 million on exploration during the first two years of the agreement. Various additional payments can be made to extend the exploration period, and Soltera has an option to acquire additional mineral titles.

Historically, El Torno is a large gold-rich quartz vein up to 14 km long and 14 m wide that was worked by the Incas, Jesuits and Spanish and has more than 1,000 m of underground galleries. The vein extends north-south, is sub-vertical, and is accompanied in places by a stockwork system of small quartz and pyrite veins that can extend up to 300 m from the main vein.

The prospect was investigated by Puma Minerals in 1997 who carried out more than 2,100 m of drilling; then by Peñoles in 1999, who undertook trenching, grab sampling, geological surveying as well as a geophysical IP survey. Soltera believes results from these two former exploration programs justify further exploration of the prospect.

Soltera’s management believes a comprehensive exploration program employing modern technologies should result in the discovery of a substantial gold deposit.

During the last quarter of 2007, geochemical stream sediments were sampled to evaluate the presence of mineralization along and around the whole gold-quartz vein system, as well as in specific areas of the stockwork. Soltera is now awaiting the analytical results of these geochemical assays from a Canadian chemical laboratory, the results of which will be announced in February.

In November, the exploration team commenced structural geological mapping and is currently re-interpreting the geological structures associated with mineralization. Evidence to date suggests that the gold-quartz veining is different from previous interpretations and the mineralization could be more widespread than previously thought.

This activity will be followed in the first quarter of 2008 by trenching and geophysical surveys in order to define precise drilling targets for the second quarter of 2008.

The company currently has approx. US$800,000 in the bank. These funds are sufficient to fund exploration through to May 2008. Soltera has commitments from existing shareholders for additional funding for the Spring Drill Program.

Soltera is headed by Fabio Montanari, who joined the company as CEO in August last year.

Dr. Montanari brings to Soltera a distinguished international mining career spanning over twenty-five years. Included is senior experience spearheading advanced exploration and mining activities for a host of internationally recognized exploration and mining companies in North, Central and West Africa, South America, Europe, Canada and the United States. Dr. Montanari's responsibilities have encompassed various mining engineering, operations, pre-feasibility and general management positions, including business development roles at the corporate management level.

Dr. Montanari currently serves as a Director for RGM of Cagliari Italy, an advisory firm specializing in mining exploration, project assessment, and evaluation, and holds a doctorate degree in economic geology from the University of Ferrara, Italy. Additionally, he is the author of a textbook on economic geology, which has been adopted by several major Italian universities.

Other major mines in Argentina include:

• The Alumbrera Mine in Northwest Argentina, owned jointly by Northern Orion (AMEX:NTO), Xstrata PLC (LSE:XTA), and Goldcorp (NYSE:GG), is one of the world’s largest copper gold mines and also one of the world’s lowest cash cost copper producers, with contained copper reserves of 385,000 tonnes of copper and 1.8 million ounces of gold
• The Agua Rica Mine is also in Northwest Argentina, only 34 km from the Alumbrera mine, has drill defined metal inventory of 21.8 billion pounds of copper, 13.3 million ounces of gold and 1.7 billion pounds of molybdenum. Agua Rica is owned 100% by Northern Orion, who was recently the subject of a successful takeover bid by Yamana Gold (NYSE:YAU), who also swallowed Meridian Gold (NYSE:MDG) in the process.
• Marifil Mines (TSX.V:MFM) has a strong portfolio of 34 advanced and early stage exploration projects covering more than 395,000 hectares of prospective ground throughout Argentina. The key targets include both precious metals and base metal finds
near existing mines, as well as in areas that previously have been unexplored.
• Rio Tinto PLC (NYSE:RTP) operates a large potash operation in Argentina, and is also exploring several large areas for precious metals.

New Year and Historical High for Oil Prices Primes Montello to Grow Exponentially Via the Drill Bit

By Doug Hadfield

The year 2007 was certainly a year to be remembered by investors familiar with Montello Resources (TSX.V: MEO). The company and its JV partner Pennine Petroleum Corp. (TSX.V:PNN) have achieved success at their Pincher Creek operations in Alberta, with one new well completed and scheduled to soon become a producer.

In Tennessee, the company drilled one of that state’s deepest wells ever, totaling 9,557 feet. The company also succeeded in adding – after a year of negotiations – another 190 acres to its land holdings within the Morgan Highpoint Area in Tennessee, adjacent to the infamous Howard-White #1 well, which blew out after briefly producing at an estimated initial flow rate of over 400 barrels of light gravity crude per hour in 2002.

Add to all that, the breaking of a historical threshold – the price of oil has now, for the first time, passed the $100 ceiling. This fact can only bode well for juniors involved in oil and gas exploration. But for Montello, the news is particularly heartening, in the sense that the new oil price preps this producer for production in Alberta and potential production in Tennessee.

For Montello, led by CEO and President Bill Cawker, 2007 was a year of significant growth and change.

In August, the company entered into an agreement to participate in the Mannville recompletion of the Pennine Well at Pincher Creek, in southern Alberta. Four companies were involved in the effort. Specifically, Montello holds a 25% interest, with the remainder of the project held by Pennine (37.5%), Paramount Resources (25%), and a private company as the other JV partner. The team soon found success, hitting pay dirt in September. Initial swabbing rates were 337 barrels of condensate and 500 million cubic feet (MCF) per day of natural gas. The company expects to begin receiving revenues from this well by the end of April 2008.

The Pincher Creek field is one of the most prolific fields in Alberta and has produced more than 600 billion cubic feet (BCF) of gas and 1 million-plus barrels of associated liquids since 1947 from the Mississippian-age carbonates of the Rundle Formation. Total production from the Pincher Creek field is around 600 BCF of gas and over 1 million barrels of associated liquids. An estimated 225 BCF of gas remains to be produced from the Mississippian formations in the productive plates that have been accessed to date.

In 2007, Montello also made strides toward making a name for itself in Tennessee by refocusing its efforts on deep prospectively high-impact plays.

Hence, the company dropped all ownership of 52 shallow oil and gas wells. Key to its new strategy is its newest acquisition – 190 acres of new prospective oil concessions in close proximity to its existing property on the Morgan Highpoint prospect, on which the company has already drilled one deep test well (which has yet to be logged).

In 2008, Montello is in a much better position now to concentrate its energies on developing and hopefully monetizing its prized assets in Morgan County, including new drilling at Morgan Highpoint – which is the site of the infamous Howard-White #1 blowout.

Just prior to the Howard-White #1 Well blowout, this well produced at an estimated initial flow rate of over 400 barrels of light gravity crude per hour. The operator of that ill-fated project, Pryor Oil (a private company), also estimated that the well was capable of producing in excess of 5 million cubic feet of gas per day.

A nearby well (John Bowen #1), drilled by another private company, tested at 800 barrels of oil equivalent per day, prior to the owner’s sudden death. The well has yet to be brought online due to legal issues, according to company documents.

In July 2007, Montello’s board announced the appointment of Phil Emrich as the Drilling Advisor /Drilling Manager. The highly anticipated drilling of John Bowen #2 test well would become Emrich’s responsibility. The plan: Drill and test one of the deepest wells in the history of oil and gas in Tennessee and find the source of hydrocarbons that were present in the previously drilled prolific Howard-White and John Bowen wells.

Emrrich’s plan is almost complete. The John Bowen # 2 Well has now been drilled and cased to around 9,557 feet. Due to technical drilling difficulties relating to well bore stability the well was cased prior to running logs which is the customary practice. The well is scheduled to be logged through the casing in the coming weeks which is an essential step that needs to be conducted before Montello and its partners can ascertain whether or not the well will be completed as a successful well and placed on production.

However, Montello’s final press release for the 2007 season was the very thing many shrewd investors had been waiting for – the company announced it had secured an additional 190 acres within the Morgan Highpoint area. Those familiar with the tongue-in-cheek exploration term “closeology” will understand the significance of this: There is an enormous resource somewhere beneath Morgan Highpoint. That has been proven twice: 400 barrels per hour at Howard-White #1 and another 800 barrels per day at John Bowen #1.

Having access to an additional 190 acres of land in 2008 will allow Montello’s geoscientists to make a discriminating choice on the crucial follow up second test well, which is scheduled to be drilled in the first Quarter of 2008.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

New Year and Historical High for Oil Prices Primes Montello to Grow Exponentially Via the Drill Bit

By Doug Hadfield

The year 2007 was certainly a year to be remembered by investors familiar with Montello Resources (TSX.V: MEO). The company and its JV partner Pennine Petroleum Corp. (TSX.V:PNN) have achieved success at their Pincher Creek operations in Alberta, with one new well completed and scheduled to soon become a producer.

In Tennessee, the company drilled one of that state’s deepest wells ever, totaling 9,557 feet. The company also succeeded in adding – after a year of negotiations – another 190 acres to its land holdings within the Morgan Highpoint Area in Tennessee, adjacent to the infamous Howard-White #1 well, which blew out after briefly producing at an estimated initial flow rate of over 400 barrels of light gravity crude per hour in 2002.

Add to all that, the breaking of a historical threshold – the price of oil has now, for the first time, passed the $100 ceiling. This fact can only bode well for juniors involved in oil and gas exploration. But for Montello, the news is particularly heartening, in the sense that the new oil price preps this producer for production in Alberta and potential production in Tennessee.

For Montello, led by CEO and President Bill Cawker, 2007 was a year of significant growth and change.

In August, the company entered into an agreement to participate in the Mannville recompletion of the Pennine Well at Pincher Creek, in southern Alberta. Four companies were involved in the effort. Specifically, Montello holds a 25% interest, with the remainder of the project held by Pennine (37.5%), Paramount Resources (25%), and a private company as the other JV partner. The team soon found success, hitting pay dirt in September. Initial swabbing rates were 337 barrels of condensate and 500 million cubic feet (MCF) per day of natural gas. The company expects to begin receiving revenues from this well by the end of April 2008.

The Pincher Creek field is one of the most prolific fields in Alberta and has produced more than 600 billion cubic feet (BCF) of gas and 1 million-plus barrels of associated liquids since 1947 from the Mississippian-age carbonates of the Rundle Formation. Total production from the Pincher Creek field is around 600 BCF of gas and over 1 million barrels of associated liquids. An estimated 225 BCF of gas remains to be produced from the Mississippian formations in the productive plates that have been accessed to date.

In 2007, Montello also made strides toward making a name for itself in Tennessee by refocusing its efforts on deep prospectively high-impact plays.

Hence, the company dropped all ownership of 52 shallow oil and gas wells. Key to its new strategy is its newest acquisition – 190 acres of new prospective oil concessions in close proximity to its existing property on the Morgan Highpoint prospect, on which the company has already drilled one deep test well (which has yet to be logged).

In 2008, Montello is in a much better position now to concentrate its energies on developing and hopefully monetizing its prized assets in Morgan County, including new drilling at Morgan Highpoint – which is the site of the infamous Howard-White #1 blowout.

Just prior to the Howard-White #1 Well blowout, this well produced at an estimated initial flow rate of over 400 barrels of light gravity crude per hour. The operator of that ill-fated project, Pryor Oil (a private company), also estimated that the well was capable of producing in excess of 5 million cubic feet of gas per day.

A nearby well (John Bowen #1), drilled by another private company, tested at 800 barrels of oil equivalent per day, prior to the owner’s sudden death. The well has yet to be brought online due to legal issues, according to company documents.

In July 2007, Montello’s board announced the appointment of Phil Emrich as the Drilling Advisor /Drilling Manager. The highly anticipated drilling of John Bowen #2 test well would become Emrich’s responsibility. The plan: Drill and test one of the deepest wells in the history of oil and gas in Tennessee and find the source of hydrocarbons that were present in the previously drilled prolific Howard-White and John Bowen wells.

Emrrich’s plan is almost complete. The John Bowen # 2 Well has now been drilled and cased to around 9,557 feet. Due to technical drilling difficulties relating to well bore stability the well was cased prior to running logs which is the customary practice. The well is scheduled to be logged through the casing in the coming weeks which is an essential step that needs to be conducted before Montello and its partners can ascertain whether or not the well will be completed as a successful well and placed on production.

However, Montello’s final press release for the 2007 season was the very thing many shrewd investors had been waiting for – the company announced it had secured an additional 190 acres within the Morgan Highpoint area. Those familiar with the tongue-in-cheek exploration term “closeology” will understand the significance of this: There is an enormous resource somewhere beneath Morgan Highpoint. That has been proven twice: 400 barrels per hour at Howard-White #1 and another 800 barrels per day at John Bowen #1.

Having access to an additional 190 acres of land in 2008 will allow Montello’s geoscientists to make a discriminating choice on the crucial follow up second test well, which is scheduled to be drilled in the first Quarter of 2008.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Kootenay Gold Hits a Home Run

By James West

In one of the very few bright spots in TSX Venture share performance, Kootenay Gold (TSX.V:KTN) shares jumped 52% on December 10th after the company announced widespread high-grade mineralization from a drill program at their 100% controlled Promintorio Silver Project in northwestern Mexico.

With intercepts like 18 meters grading 950 grams per tonne and 151 meters at 162 grams per tonne silver equivalent, all eyes are focused on the suddenly stellar Kootenay, whose success at Promintorio caps a year in which the company has seen major progress on a big chunk of its property portfolio.

But while the rich intercepts are what has driven the stock to new highs, CEO James McDonald is most interested in what the drill results are telling him from a large scale geological structure perspective.

"These results indicate that the individual breccias drilled in the first phase are part of a single, large mineralized system with distinct characteristics indicative of a porphyry system. Accordingly, drill data suggests the Promontorio may contain a deposit of larger scale and scope than previously conceived," he said.

That’s his technical way of saying that limits to both the depth, length and width of the mineralized system have not yet been reached. It remains open in all directions.

I asked him if that meant that these breccias referred to in the press release were sitting on top of a porphyry system.

“The point is not that there is a porphyry underlying the breccias but that the breccias themselves are part of a porphyry system,” he replied. “This is evidenced by the potassic (biotite) and phyllic (sericite) alteration grading from a propylitic (calcite chlorite) alteration.”

Perspective is what its all about at Promintorio. Its important to bear in mind that the region surrounding Promintorio, while historically the focus of small scale mining, has suddenly emerged as a precious metals hotspot in the last five or six years.

Current estimates from projects within a 200 kilometer radius of Promintorio put over 15 million ounces of gold and more than 480 million ounces of silver in various categories of mineral resources.

Deposits like Minefineders (TSX:MFL) Dolores project, with over 3 million ounces of gold and 148 million ounces of silver, and Alamos Gold’s (TSX:AGI) Mulatos deposit, at 3.71 million ounces of gold , are turning the region into a primary mining district for Mexico.

Other companies contributing to the previously stated regional resource include Agnico-Eagle’s (TSX:AEM) Pinos Altos, (1.6 million ounces gold), Gammon Gold’s (TSX.V:GAM) Ocampo project (2.86 million ounces gold, 133 million ounces silver), Palmarejo Silver and Gold’s (TSX:PJO) million ounce namesake property, Goldcorp (NYSE:GG), Pan American Silver (TSX:PAA), Fronterra Copper (TSX:FCC) and Tyler Resources (TSX:TYS).

Another perspective to bear in mind is that this program tested only a small fraction of the 40,000 hectares that comprise the entire Promintorio project. The project recently surveyed by an electromagnetic survey shows a number of areas with potential in addition to the 500 meter by 2,000 meter mineralized trend of which only a 175 by 200 meter portion was just drilled.

Nobody I spoke to wanted to be quoted as to what the potential could be. The company prefers to let the results do the talking.

So what’s next?

Well, according Kootenay president Ken Berry, “Given the success of Phase I Drill results we anticipate Phase II to commence early in the new year. We have also initiated an IP Study to source additional priority targets over the 500 meter by 2000 meter structure. “

When asked if the company was going to need to raise more money for Phase 2, Ken Berry responded that the company has “just under $2 million in the treasury and warrants and options outstanding which would yield an additional $6.9 million upon exercise.”

Considering the recent strong share price performance, it would appear likely that a good number of those options and warrants will get exercised.

“All in all”, Ken continued, “these results confirm the historic grades. From surface to depth, mineralization is rich and suggest the Promontorio may contain a deposit of larger scope than previously conceived. A porphyry system could have the set up for the possibility of an open pit.”

“This area of Mexico (Sierra Madre Region) had no major producers six years ago, now there are five major producers each having multi-million oz reserves (gold equivalent). There’s also another four projects expecting to go into production in the next 3 or 4 years.”

A key to Kootenay’s success is CEO, James McDonald, a founder of Alamos (National Gold) which produces 100,000 oz gold per year; and a the former president of Genco Resources (TSX.V:GGC), which produces 1 million oz silver per year. Jim remains on the board of Alamos and Genco Resources.

Golden Reign Focuses on Gold Play in Russia

By Kara Stefan

Currently ranked sixth in the world in gold production, Russia has total known gold resources of approximately 500 million ounces. During the last few years, Russia’s increase in production has been the one of the highest among all of the major gold producers, and yet this growth represents only a small portion of the country’s potential.

Aton Capital, a major Russian asset management company, has pointed out that Russia’s output of gold still lags far behind other major gold producers.

“The country's total estimated gold resources are almost 500-mil oz, while output was only 5.9-mil oz in 2004 [and 5.36 million in 2006 – Editor], implying a resource life of 85 years at the current rate of extraction,” the company stated in a report posted on its website. “With the exception of South Africa, resource lives for major producers (US, Canada and Australia) are 15-20 years. This implies there is considerable potential for raising output in Russia, and indeed this is exactly what we have seen.”

And if Russia’s total resource base is considerable, then as a percentage, Russia’s Far East is the place for junior resource companies to be looking for the yellow metal. The Magadan gold region – which is said to be Russia most important area for gold – hosts nearly 2,000 placer gold deposits, 100 gold ore deposits, and 48 silver ore deposits. At last tally, the region had known reserves of 128,000,000 ounces – more than one fifth of Russia’s total.

Russian mining and exploration have had a long road toward real openness since Glasnost and Perestroika were decreed by the then president of the Soviet Union Mikhail Gorbachev. And forefront of juniors making headway in modern day Russia is Golden Reign Resources (TSX.V:GRR).

“We’ve got lots of focus on Russia’s Far East right now,” said Myles. “We’ve taken a lot of effort to lay down roots in the region. I think our most recent sample assays show that we’ve made the right decision in setting up at Dorozhni and Butarni.”

Dorozhni Property
Earlier in the year, Golden Reign completed the first phase of its exploration program at the Dorozhni property, one of two highly-prospective gold properties located in the Magadan Region of Far East Russia. Although historical exploration has focused on high-grade gold bearing quartz veins at or near surface, Golden Reign believes that the property has potential for a low-grade bulk tonnage gold deposit.

Assay results from the initial sampling program originated from two trenches covering an aggregate 1.5 kilometres on the N-NE slope of Dorozhni. Approximately 30 kilograms (over 900 ounces) of gold was historically mined from Vein No. 1, including high-grade pockets grading several kilograms of gold per tonne. Recent assay results from property samples include grades of 1.65 g/t, 2.74 g/t, 4.84 g/t, and 18.69 g/t.

Dipping gently to the northwest, this quartz vein has intense massive sulphide mineralization along the vein selvage containing visible gold. Coarse-grained native gold mineralization is also observed within the vein. Gold grains range in size from 0.5 to 2.0 mm, reportedly reaching a few centimetres in size in some cases.

Additional samples revealed that gold mineralization is not restricted solely to quartz veins but also occurs within the surrounding rock. Others indicated that gold mineralization is likely disseminated through the entire intrusion.

High sulphide mineralization was observed in boulders located in the riverbed of Dorozhni Creek within a stockwork zone roughly 50 metres by 70 metres wide. Golden Reign intends to remove the overburden to allow for proper channel sampling by diamond saw, which should provide a better representation and understanding of this newly discovered zone.

Butarni Property
Golden Reign’s second Russian venture, the Butarni property, covers an area of 9.3 square kilometers and is situated approximately 310 kilometres north of Magadan, the capital city of the province. It is underlain by sediments intruded by a biotite granite stock with dimensions of approximately 3 km x 1.6 km. Golden Reign has established a camp and mobilized exploration equipment in the area. It is trenching 3,500 metres across geochemical and geophysical anomalies in anticipation of 2,500 metres of diamond drilling to test the mineralization at depth.

A technical report on the Butarni Property, filed in August 2007 by qualified person John Kowalchuk, P. Geol., indicated that the discovery of modest to large tonnages of gold mineralized rock could potentially allow for low cost, large-scale, open pit mining of the deposit(s) at Butarni.

“The combination of large tonnages of mineralized rock and the substantial gold grade potential suggests the possibility of a significant discovery of an economic gold deposit,” Kowalchuk reported, recommending that the Butarni property warranted additional evaluation.

Previously, only the northern and western parts of the Butarni region were explored, whereas Golden Reign’s current target is a known gold bearing area in the southwest portion referred to as Zone 1. Golden Reign is currently engaged in detailed mapping and geochemical surveys to test approximately 40% of this area that remains unexplored.

Historical grab and channel sampling of quartz veins within Zone 1 returned values ranging from 1 g/t to 334.4 g/t Au, with an average grade of 21.3 g/t gold from 45 grab samples and 29.6 g/t gold from 22 channel samples. Golden Reign’s recent channel samples yielded grades of 8.63 g/t and 16.11 g/t.

Encouraged by the findings in the Technical Report, Golden Reign excavated an additional 1,000 metres across four trenches, for a total of six trenches approximately 100-150 metres apart. Testing of the newly exposed weathered zone will continue throughout 2008.

Offering low dilution – 25 million shares issued and outstanding and 41 million fully diluted – and a low share price ($0.12 to $0.15 range), Golden Reign has a market cap with plenty of upside potential. The company has taken a slow and steady dive in the markets, first since a tangle with local politics in the region (now resolved) and then due to the market hiccup last August (now resolved). In the meantime, the company has made significant headway in achieving its objectives – “trenching; channel sampling; detailed geological mapping; soil sampling; geophysical surveys; and limited drilling.” With this now complete – the company collected almost 1000 one-metre samples – and with results expected soon, Golden Reign has already begun assessing new targets in mineral-rich Magadan.

Golden Reign Focuses on Gold Play in Russia

By Kara Stefan

Currently ranked sixth in the world in gold production, Russia has total known gold resources of approximately 500 million ounces. During the last few years, Russia’s increase in production has been the one of the highest among all of the major gold producers, and yet this growth represents only a small portion of the country’s potential.

Aton Capital, a major Russian asset management company, has pointed out that Russia’s output of gold still lags far behind other major gold producers.

“The country's total estimated gold resources are almost 500-mil oz, while output was only 5.9-mil oz in 2004 [and 5.36 million in 2006 – Editor], implying a resource life of 85 years at the current rate of extraction,” the company stated in a report posted on its website. “With the exception of South Africa, resource lives for major producers (US, Canada and Australia) are 15-20 years. This implies there is considerable potential for raising output in Russia, and indeed this is exactly what we have seen.”

And if Russia’s total resource base is considerable, then as a percentage, Russia’s Far East is the place for junior resource companies to be looking for the yellow metal. The Magadan gold region – which is said to be Russia most important area for gold – hosts nearly 2,000 placer gold deposits, 100 gold ore deposits, and 48 silver ore deposits. At last tally, the region had known reserves of 128,000,000 ounces – more than one fifth of Russia’s total.

Russian mining and exploration have had a long road toward real openness since Glasnost and Perestroika were decreed by the then president of the Soviet Union Mikhail Gorbachev. And forefront of juniors making headway in modern day Russia is Golden Reign Resources (TSX.V:GRR).

“We’ve got lots of focus on Russia’s Far East right now,” said Myles. “We’ve taken a lot of effort to lay down roots in the region. I think our most recent sample assays show that we’ve made the right decision in setting up at Dorozhni and Butarni.”

Dorozhni Property
Earlier in the year, Golden Reign completed the first phase of its exploration program at the Dorozhni property, one of two highly-prospective gold properties located in the Magadan Region of Far East Russia. Although historical exploration has focused on high-grade gold bearing quartz veins at or near surface, Golden Reign believes that the property has potential for a low-grade bulk tonnage gold deposit.

Assay results from the initial sampling program originated from two trenches covering an aggregate 1.5 kilometres on the N-NE slope of Dorozhni. Approximately 30 kilograms (over 900 ounces) of gold was historically mined from Vein No. 1, including high-grade pockets grading several kilograms of gold per tonne. Recent assay results from property samples include grades of 1.65 g/t, 2.74 g/t, 4.84 g/t, and 18.69 g/t.

Dipping gently to the northwest, this quartz vein has intense massive sulphide mineralization along the vein selvage containing visible gold. Coarse-grained native gold mineralization is also observed within the vein. Gold grains range in size from 0.5 to 2.0 mm, reportedly reaching a few centimetres in size in some cases.

Additional samples revealed that gold mineralization is not restricted solely to quartz veins but also occurs within the surrounding rock. Others indicated that gold mineralization is likely disseminated through the entire intrusion.

High sulphide mineralization was observed in boulders located in the riverbed of Dorozhni Creek within a stockwork zone roughly 50 metres by 70 metres wide. Golden Reign intends to remove the overburden to allow for proper channel sampling by diamond saw, which should provide a better representation and understanding of this newly discovered zone.

Butarni Property
Golden Reign’s second Russian venture, the Butarni property, covers an area of 9.3 square kilometers and is situated approximately 310 kilometres north of Magadan, the capital city of the province. It is underlain by sediments intruded by a biotite granite stock with dimensions of approximately 3 km x 1.6 km. Golden Reign has established a camp and mobilized exploration equipment in the area. It is trenching 3,500 metres across geochemical and geophysical anomalies in anticipation of 2,500 metres of diamond drilling to test the mineralization at depth.

A technical report on the Butarni Property, filed in August 2007 by qualified person John Kowalchuk, P. Geol., indicated that the discovery of modest to large tonnages of gold mineralized rock could potentially allow for low cost, large-scale, open pit mining of the deposit(s) at Butarni.

“The combination of large tonnages of mineralized rock and the substantial gold grade potential suggests the possibility of a significant discovery of an economic gold deposit,” Kowalchuk reported, recommending that the Butarni property warranted additional evaluation.

Previously, only the northern and western parts of the Butarni region were explored, whereas Golden Reign’s current target is a known gold bearing area in the southwest portion referred to as Zone 1. Golden Reign is currently engaged in detailed mapping and geochemical surveys to test approximately 40% of this area that remains unexplored.

Historical grab and channel sampling of quartz veins within Zone 1 returned values ranging from 1 g/t to 334.4 g/t Au, with an average grade of 21.3 g/t gold from 45 grab samples and 29.6 g/t gold from 22 channel samples. Golden Reign’s recent channel samples yielded grades of 8.63 g/t and 16.11 g/t.

Encouraged by the findings in the Technical Report, Golden Reign excavated an additional 1,000 metres across four trenches, for a total of six trenches approximately 100-150 metres apart. Testing of the newly exposed weathered zone will continue throughout 2008.

Offering low dilution – 25 million shares issued and outstanding and 41 million fully diluted – and a low share price ($0.12 to $0.15 range), Golden Reign has a market cap with plenty of upside potential. The company has taken a slow and steady dive in the markets, first since a tangle with local politics in the region (now resolved) and then due to the market hiccup last August (now resolved). In the meantime, the company has made significant headway in achieving its objectives – “trenching; channel sampling; detailed geological mapping; soil sampling; geophysical surveys; and limited drilling.” With this now complete – the company collected almost 1000 one-metre samples – and with results expected soon, Golden Reign has already begun assessing new targets in mineral-rich Magadan.

PMI Gold Leads with High Grades and Profit Margins

By Katherine Young

Everyone knows the adage—buy low and sell high, but buying low means buying what few others value. Just a few sellers can attract more panicked selling and, conversely, a couple major shareholders can spur more optimistic buying. Market leaders have the courage and skill to stray from the herd and buy a stock based on its actual value, not simply because everyone else is buying.

The same logic holds true for exploration companies: Create investor wealth by buying and developing properties where others have failed – due to higher commodity prices, market conditions, politics or lack of courage or skill.

PMI Gold’s (TSX.V:PMV) President Doug MacQuarrie has had his eye on the Asankrangwa gold belt in Ghana, West Africa since 1994 when he co-commissioned the first modern, geophysical airborne survey flown over the belt. The survey determined that the belt was a major unexplored break, equivalent in features and structure to the prolific Ashanti belt located nearby. The major difference being that although virtually the entire belt had been staked by juniors, the Asankrangwa has had far less production than Ashanti.

So when the gold price fell and the juniors began to drop away en masse, MacQuarrie and his Ghanaian partners followed his contrarian instincts and bought concessions along the Asankrangwa, in the heart of the Ghana Gold Triangle, for a fraction of the price they would cost today.

It’s this kind of maverick thinking that put PMI ahead of the curve before the bull market started and continues to distinguish it today.

MacQuarrie plans a mine distinctly different from its peers. Intent on moving to production on its Kubi project, MacQuarrie envisions a small, inexpensive 500 tonne per day operation that targets high-grade gold initially averaging between 12 and 15 g/t, and results in about the same amount of gold produced as in a bulk-tonnage low-grade open pit mine.

Kubi, which PMI acquired in October of this year, has a 43-101* compliant resource estimate of 604,000 indicated ounces of gold and 315,000 inferred ounces. Between 1999 and 2005 the Kubi mine produced 59,000 ounces of gold for AngloGold Ashanti from 500,000 tonnes of ore at an average grade of 3.65 g/t.

Before completing pre-feasibility on Kubi, PMI is focused on raising $50 million in project financing to put both the Kubi and Obotan past producing mines back into production as underground operations. The Kubi project is further advanced and PMI will move on it first, developing toward pre-feasibility as soon as financing is in place. The mining lease has already been issued. The mine is located only twenty minutes south of infrastructure at Obuasi, Ghana’s main underground mining district. And because the gold grades are high, MacQuarrie plans to move to production within eighteen months.

Mining high-grade, low tonnage presents the opportunity for lower capital costs, lower financing requirements, and short time lines to production. However, like in the past, when MacQuarrie bought concessions in Ghana at the same time as other juniors were selling off, MacQuarrie appears the contrarian.

“We are serious about putting two mines into production and concentrating on margin,” he says. His model is different. It’s not large scale, and it’s not high tech, but it is potentially lucrative.

And there are side benefits. Mining in a developing country like Ghana, creates the opportunity for providing labour for hundreds of trained but unemployed locals. Instead of spending money on expensive capital equipment such as a jumbo drill rigs which employ few operators, PMI is able to train and pay many unemployed Ghanaians to use and repair cheap low-tech conventional equipment like jack-legs and stopers, while saving on capital costs.

Similarly, instead of processing hundreds of thousands of tonnes of ore in a huge open pit, PMI can keep its environmental footprint light and save on reclamation costs, all for the same net amount of gold. Projects like this, MacQuarrie contends, “are easier to sell to developing countries. You don’t end up having to move families and villages, and provide more and longer term employment opportunities.”

In addition to Kubi, production at Obotan is on the horizon as well. Past production at Obotan on the Asankrangwa belt totalled 730,000 ounces of gold – 590,000 of which came from the Nkran pit with the remaining 140,000 from the Adubiaso and Abore pits.

While there isn’t yet a 43-101 resource estimate for the Nkran project, Golder Associates have been commissioned to prepare one for early 2008. PMI Gold believes there is an exploration target of up to 2 million ounces under the Nkran pit.

Recent assays from a 2,539 m drill program on the Obotan property included highlights from the Nkran pit of 44.5 m of 2.61 g/t gold testing the down dip extension of the orebody. And a drill hole 170 m to the south of the southern end of the pit returned a highlight of 2.7 m of 8.91 g/t gold.

MacQuarrie is confident in his strategy, however different it may be. And he has another plan that should sound good to investors: “Once we’ve paid back the bank we’re going to pay our shareholders a significant percentage of our net earnings, after all the bank debt is retired, as dividends.”

PMI stock is currently trading at about $0.24 with a 52 week high of $0.47. Fully diluted, the company has 87M shares outstanding.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Uranium Boom Echoes in Atomic Minerals’ Colorado Exploration

By Katherine Young
December 21, 2007

With energy demand predicted to increase and continued serious concern about the consequences of burning fossil fuels, experts are predicting nuclear will remain an important world energy source for the foreseeable future. Increasing nuclear energy demand prompted a uranium spot price high of $138.00/lb this summer, which then dropped back to the $80 mark and has since regained to about $92.00/lb. Many are speculating that the price could remain flat at $90/ pound. Cognizant of the profits available at prices like these – the price has tripled in about three years – uranium juniors like Atomic Minerals are returning to known uranium zones like Utah and Colorado.

Statistics from the US government’s Energy Information Association’s (EIA) 2007 World Energy and Economic Outlook noted that world electricity generation from nuclear power is forecasted to increase dramatically from 2,619 billion kilowatt hours in 2004 to 2,972 billion kilowatt hours in 2030. And the EIA expects nuclear power generation to increase through 2030 around the world, except OECD Europe, with the Asian market creating the biggest growth.

In addition worldwide nuclear power generation outside of the OECD is expected to increase 4% year on year, between 2004 and 2030. This increased demand, driven by environmental concerns, higher fossil fuel prices and energy security concerns could send the uranium price back upward in coming years.

On the supply side, there is Cameco’s Cigar Lake, which was to come online right about now with an estimated 113 million pounds of the yellow stuff – until the underground workings flooded. This major supply of uranium is showing no signs of coming back online until at least 2011.

Some analysts suggest that even that date is optimistic. Cameron French writing for Reuters on December 12, 2007 said, “With [the Cigar Lake] mine expected one day to supply over 10 percent of the world's mined uranium, any further [beyond 2011] delays starting production would put upward pressure on uranium spot prices that have already hit a record high earlier this year.”

Buoyed by high uranium prices and price predictions, Atomic Minerals (TSX.V: ATL) is putting its experienced team together with geology in southwestern Colorado that is associated with some of the largest and most prolific uranium resources in US history.

Atomic’s Dolores Anticline project is located in the Paradox Basin and the Uruvan Belt only 30 miles from the famous Lisbon Valley in Utah, and only 30 miles from Denison Corp’s White Mesa Mill, the only operating uranium mill in the United States. The Dolores Anticline is in the four corners uranium area made famous by Charlie Steen who discovered a massive, highly-enriched uranium deposit, which became the Mi Vida Mine in the Lisbon Valley, Utah in 1952. Steen’s was the first massive find in the uranium boom of the 1950’s prompted by government support of the industry to fuel the Manhattan Project during World War II.

Uranium was so prolific in the area in the 1950’s that Moab, Utah earned a reputation as the uranium capital of the world. By 1955 the Colorado Plateau was home to 800 uranium mines. By the end of the boom in 1962 Utah had produced over 9 million tonnes of ore before the government-boosted boom ended with dwindling demand due to the end of the war.

Picking up where history left off, Atomic’s Dolores Anticline project consists of 1,177 claims in the area, totalling 24,280 acres in the Dolores Anticline, an asymmetrical northwest trending fold in the Paradox Basin.

An anticline is a fold in the layers of rock that pushes the earth up into a dome shape. The folding can create gaps – known as traps – where oil, natural gas and uranium tend to gather.

Utilizing existing literature on the area, geological analysis and a radon survey, Cady Johnson, PhD author of a Feb. 2007 NI 43-101 technical report on the Dolores Anticline project, concluded, “It is clear that there is good potential for undiscovered uranium deposits to exist beneath the properties considered here. Fractures known to have been conduits for mineralizing solutions, carbon-facies rocks that host all known uranium deposits in the Slick Rock and Lisbon Valley Districts, and paleochannels in the Moss Back Member of the Chinle Formation are all present or judged to be present beneath the subject claims.”

Following recommendations from the 43-101 report, Atomic Minerals began drilling on the first transect of the Dolores Anticline in mid-November 2007. Atomic plans a 30,000-foot program at the Summit Point and Box Canyon Exploration Projects

To add to great properties, Atomic Minerals has attracted some of the best people in the business to join its team. On December 19, Atomic announced it has appointed John J. Sutherland as a director of Atomic Minerals. Sutherland is best known for his advisory role with growth companies – with particular emphasis on mineral exploration companies – and appears to have a Midas touch.

Sutherland serves as a director with Aquiline Resources (TSX:AQI), the sole owner of the Navidad Silver-lead deposit, which contains an astounding 453 million ounces silver and 3 billion pounds lead, making it the largest resource of its kind in the world. Aquiline’s recent court success in procuring sole rights to that property is a major coup for both the company and Sutherland.

Notably, Sutherland was CFO of Arequipa Resources leading up to its acquisition in 1996 by Barrick Gold for $1.1 billion. He also co-founded and acted as Vice President and CFO of Tekion Inc., which he grew from 4 to 75 employees in the space of less than three years while raising $18 million in capital.

At present, Sutherland is Vice President and Chief Financial Officer of Goldgroup Resources, Corporate Secretary of Uracan Resources and a director of four other publicly listed companies.

Atomic’s Vice President of Exploration, Richard Dorman has extensive history mining for uranium in Colorado, Wyoming, Utah and Nevada. He works with Mark Steen (the eldest son of Charlie Steen) actively exploring in various areas in the Lisbon Valley. He has recently attracted the attention of James Finch, a US based uranium pundit who said of Dorman’s projects in the Lisbon Valley, “the area is right, and it may be ripe for a discovery.”

If so, Atomic has all the right ingredients – an experienced exploration team, financial leadership, connections within the uranium industry and properties in one of the best-known and most prolific regions in the United States. Also attractive is Atomic’s tight share structure and a price tag that flirts promisingly with its 52-week low.

Investors can expect results from the first portion of the drill campaign at the Dolores Anticline to be announced early in 2008.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Uranium Boom Echoes in Atomic Minerals’ Colorado Exploration

By Katherine Young
December 21, 2007

With energy demand predicted to increase and continued serious concern about the consequences of burning fossil fuels, experts are predicting nuclear will remain an important world energy source for the foreseeable future. Increasing nuclear energy demand prompted a uranium spot price high of $138.00/lb this summer, which then dropped back to the $80 mark and has since regained to about $92.00/lb. Many are speculating that the price could remain flat at $90/ pound. Cognizant of the profits available at prices like these – the price has tripled in about three years – uranium juniors like Atomic Minerals are returning to known uranium zones like Utah and Colorado.

Statistics from the US government’s Energy Information Association’s (EIA) 2007 World Energy and Economic Outlook noted that world electricity generation from nuclear power is forecasted to increase dramatically from 2,619 billion kilowatt hours in 2004 to 2,972 billion kilowatt hours in 2030. And the EIA expects nuclear power generation to increase through 2030 around the world, except OECD Europe, with the Asian market creating the biggest growth.

In addition worldwide nuclear power generation outside of the OECD is expected to increase 4% year on year, between 2004 and 2030. This increased demand, driven by environmental concerns, higher fossil fuel prices and energy security concerns could send the uranium price back upward in coming years.

On the supply side, there is Cameco’s Cigar Lake, which was to come online right about now with an estimated 113 million pounds of the yellow stuff – until the underground workings flooded. This major supply of uranium is showing no signs of coming back online until at least 2011.

Some analysts suggest that even that date is optimistic. Cameron French writing for Reuters on December 12, 2007 said, “With [the Cigar Lake] mine expected one day to supply over 10 percent of the world's mined uranium, any further [beyond 2011] delays starting production would put upward pressure on uranium spot prices that have already hit a record high earlier this year.”

Buoyed by high uranium prices and price predictions, Atomic Minerals (TSX.V: ATL) is putting its experienced team together with geology in southwestern Colorado that is associated with some of the largest and most prolific uranium resources in US history.

Atomic’s Dolores Anticline project is located in the Paradox Basin and the Uruvan Belt only 30 miles from the famous Lisbon Valley in Utah, and only 30 miles from Denison Corp’s White Mesa Mill, the only operating uranium mill in the United States. The Dolores Anticline is in the four corners uranium area made famous by Charlie Steen who discovered a massive, highly-enriched uranium deposit, which became the Mi Vida Mine in the Lisbon Valley, Utah in 1952. Steen’s was the first massive find in the uranium boom of the 1950’s prompted by government support of the industry to fuel the Manhattan Project during World War II.

Uranium was so prolific in the area in the 1950’s that Moab, Utah earned a reputation as the uranium capital of the world. By 1955 the Colorado Plateau was home to 800 uranium mines. By the end of the boom in 1962 Utah had produced over 9 million tonnes of ore before the government-boosted boom ended with dwindling demand due to the end of the war.

Picking up where history left off, Atomic’s Dolores Anticline project consists of 1,177 claims in the area, totalling 24,280 acres in the Dolores Anticline, an asymmetrical northwest trending fold in the Paradox Basin.

An anticline is a fold in the layers of rock that pushes the earth up into a dome shape. The folding can create gaps – known as traps – where oil, natural gas and uranium tend to gather.

Utilizing existing literature on the area, geological analysis and a radon survey, Cady Johnson, PhD author of a Feb. 2007 NI 43-101 technical report on the Dolores Anticline project, concluded, “It is clear that there is good potential for undiscovered uranium deposits to exist beneath the properties considered here. Fractures known to have been conduits for mineralizing solutions, carbon-facies rocks that host all known uranium deposits in the Slick Rock and Lisbon Valley Districts, and paleochannels in the Moss Back Member of the Chinle Formation are all present or judged to be present beneath the subject claims.”

Following recommendations from the 43-101 report, Atomic Minerals began drilling on the first transect of the Dolores Anticline in mid-November 2007. Atomic plans a 30,000-foot program at the Summit Point and Box Canyon Exploration Projects

To add to great properties, Atomic Minerals has attracted some of the best people in the business to join its team. On December 19, Atomic announced it has appointed John J. Sutherland as a director of Atomic Minerals. Sutherland is best known for his advisory role with growth companies – with particular emphasis on mineral exploration companies – and appears to have a Midas touch.

Sutherland serves as a director with Aquiline Resources (TSX:AQI), the sole owner of the Navidad Silver-lead deposit, which contains an astounding 453 million ounces silver and 3 billion pounds lead, making it the largest resource of its kind in the world. Aquiline’s recent court success in procuring sole rights to that property is a major coup for both the company and Sutherland.

Notably, Sutherland was CFO of Arequipa Resources leading up to its acquisition in 1996 by Barrick Gold for $1.1 billion. He also co-founded and acted as Vice President and CFO of Tekion Inc., which he grew from 4 to 75 employees in the space of less than three years while raising $18 million in capital.

At present, Sutherland is Vice President and Chief Financial Officer of Goldgroup Resources, Corporate Secretary of Uracan Resources and a director of four other publicly listed companies.

Atomic’s Vice President of Exploration, Richard Dorman has extensive history mining for uranium in Colorado, Wyoming, Utah and Nevada. He works with Mark Steen (the eldest son of Charlie Steen) actively exploring in various areas in the Lisbon Valley. He has recently attracted the attention of James Finch, a US based uranium pundit who said of Dorman’s projects in the Lisbon Valley, “the area is right, and it may be ripe for a discovery.”

If so, Atomic has all the right ingredients – an experienced exploration team, financial leadership, connections within the uranium industry and properties in one of the best-known and most prolific regions in the United States. Also attractive is Atomic’s tight share structure and a price tag that flirts promisingly with its 52-week low.

Investors can expect results from the first portion of the drill campaign at the Dolores Anticline to be announced early in 2008.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Uranium Boom Echoes in Atomic Minerals’ Colorado Exploration

By Katherine Young
December 21, 2007

With energy demand predicted to increase and continued serious concern about the consequences of burning fossil fuels, experts are predicting nuclear will remain an important world energy source for the foreseeable future. Increasing nuclear energy demand prompted a uranium spot price high of $138.00/lb this summer, which then dropped back to the $80 mark and has since regained to about $92.00/lb. Many are speculating that the price could remain flat at $90/ pound. Cognizant of the profits available at prices like these – the price has tripled in about three years – uranium juniors like Atomic Minerals are returning to known uranium zones like Utah and Colorado.

Statistics from the US government’s Energy Information Association’s (EIA) 2007 World Energy and Economic Outlook noted that world electricity generation from nuclear power is forecasted to increase dramatically from 2,619 billion kilowatt hours in 2004 to 2,972 billion kilowatt hours in 2030. And the EIA expects nuclear power generation to increase through 2030 around the world, except OECD Europe, with the Asian market creating the biggest growth.

In addition worldwide nuclear power generation outside of the OECD is expected to increase 4% year on year, between 2004 and 2030. This increased demand, driven by environmental concerns, higher fossil fuel prices and energy security concerns could send the uranium price back upward in coming years.

On the supply side, there is Cameco’s Cigar Lake, which was to come online right about now with an estimated 113 million pounds of the yellow stuff – until the underground workings flooded. This major supply of uranium is showing no signs of coming back online until at least 2011.

Some analysts suggest that even that date is optimistic. Cameron French writing for Reuters on December 12, 2007 said, “With [the Cigar Lake] mine expected one day to supply over 10 percent of the world's mined uranium, any further [beyond 2011] delays starting production would put upward pressure on uranium spot prices that have already hit a record high earlier this year.”

Buoyed by high uranium prices and price predictions, Atomic Minerals (TSX.V: ATL) is putting its experienced team together with geology in southwestern Colorado that is associated with some of the largest and most prolific uranium resources in US history.

Atomic’s Dolores Anticline project is located in the Paradox Basin and the Uruvan Belt only 30 miles from the famous Lisbon Valley in Utah, and only 30 miles from Denison Corp’s White Mesa Mill, the only operating uranium mill in the United States. The Dolores Anticline is in the four corners uranium area made famous by Charlie Steen who discovered a massive, highly-enriched uranium deposit, which became the Mi Vida Mine in the Lisbon Valley, Utah in 1952. Steen’s was the first massive find in the uranium boom of the 1950’s prompted by government support of the industry to fuel the Manhattan Project during World War II.

Uranium was so prolific in the area in the 1950’s that Moab, Utah earned a reputation as the uranium capital of the world. By 1955 the Colorado Plateau was home to 800 uranium mines. By the end of the boom in 1962 Utah had produced over 9 million tonnes of ore before the government-boosted boom ended with dwindling demand due to the end of the war.

Picking up where history left off, Atomic’s Dolores Anticline project consists of 1,177 claims in the area, totalling 24,280 acres in the Dolores Anticline, an asymmetrical northwest trending fold in the Paradox Basin.

An anticline is a fold in the layers of rock that pushes the earth up into a dome shape. The folding can create gaps – known as traps – where oil, natural gas and uranium tend to gather.

Utilizing existing literature on the area, geological analysis and a radon survey, Cady Johnson, PhD author of a Feb. 2007 NI 43-101 technical report on the Dolores Anticline project, concluded, “It is clear that there is good potential for undiscovered uranium deposits to exist beneath the properties considered here. Fractures known to have been conduits for mineralizing solutions, carbon-facies rocks that host all known uranium deposits in the Slick Rock and Lisbon Valley Districts, and paleochannels in the Moss Back Member of the Chinle Formation are all present or judged to be present beneath the subject claims.”

Following recommendations from the 43-101 report, Atomic Minerals began drilling on the first transect of the Dolores Anticline in mid-November 2007. Atomic plans a 30,000-foot program at the Summit Point and Box Canyon Exploration Projects

To add to great properties, Atomic Minerals has attracted some of the best people in the business to join its team. On December 19, Atomic announced it has appointed John J. Sutherland as a director of Atomic Minerals. Sutherland is best known for his advisory role with growth companies – with particular emphasis on mineral exploration companies – and appears to have a Midas touch.

Sutherland serves as a director with Aquiline Resources (TSX:AQI), the sole owner of the Navidad Silver-lead deposit, which contains an astounding 453 million ounces silver and 3 billion pounds lead, making it the largest resource of its kind in the world. Aquiline’s recent court success in procuring sole rights to that property is a major coup for both the company and Sutherland.

Notably, Sutherland was CFO of Arequipa Resources leading up to its acquisition in 1996 by Barrick Gold for $1.1 billion. He also co-founded and acted as Vice President and CFO of Tekion Inc., which he grew from 4 to 75 employees in the space of less than three years while raising $18 million in capital.

At present, Sutherland is Vice President and Chief Financial Officer of Goldgroup Resources, Corporate Secretary of Uracan Resources and a director of four other publicly listed companies.

Atomic’s Vice President of Exploration, Richard Dorman has extensive history mining for uranium in Colorado, Wyoming, Utah and Nevada. He works with Mark Steen (the eldest son of Charlie Steen) actively exploring in various areas in the Lisbon Valley. He has recently attracted the attention of James Finch, a US based uranium pundit who said of Dorman’s projects in the Lisbon Valley, “the area is right, and it may be ripe for a discovery.”

If so, Atomic has all the right ingredients – an experienced exploration team, financial leadership, connections within the uranium industry and properties in one of the best-known and most prolific regions in the United States. Also attractive is Atomic’s tight share structure and a price tag that flirts promisingly with its 52-week low.

Investors can expect results from the first portion of the drill campaign at the Dolores Anticline to be announced early in 2008.

Uranium Boom Echoes in Atomic Minerals’ Colorado Exploration

By Katherine Young
December 21, 2007

With energy demand predicted to increase and continued serious concern about the consequences of burning fossil fuels, experts are predicting nuclear will remain an important world energy source for the foreseeable future. Increasing nuclear energy demand prompted a uranium spot price high of $138.00/lb this summer, which then dropped back to the $80 mark and has since regained to about $92.00/lb. Many are speculating that the price could remain flat at $90/ pound. Cognizant of the profits available at prices like these – the price has tripled in about three years – uranium juniors like Atomic Minerals are returning to known uranium zones like Utah and Colorado.

Statistics from the US government’s Energy Information Association’s (EIA) 2007 World Energy and Economic Outlook noted that world electricity generation from nuclear power is forecasted to increase dramatically from 2,619 billion kilowatt hours in 2004 to 2,972 billion kilowatt hours in 2030. And the EIA expects nuclear power generation to increase through 2030 around the world, except OECD Europe, with the Asian market creating the biggest growth.

In addition worldwide nuclear power generation outside of the OECD is expected to increase 4% year on year, between 2004 and 2030. This increased demand, driven by environmental concerns, higher fossil fuel prices and energy security concerns could send the uranium price back upward in coming years.

On the supply side, there is Cameco’s Cigar Lake, which was to come online right about now with an estimated 113 million pounds of the yellow stuff – until the underground workings flooded. This major supply of uranium is showing no signs of coming back online until at least 2011.

Some analysts suggest that even that date is optimistic. Cameron French writing for Reuters on December 12, 2007 said, “With [the Cigar Lake] mine expected one day to supply over 10 percent of the world's mined uranium, any further [beyond 2011] delays starting production would put upward pressure on uranium spot prices that have already hit a record high earlier this year.”

Buoyed by high uranium prices and price predictions, Atomic Minerals (TSX.V: ATL) is putting its experienced team together with geology in southwestern Colorado that is associated with some of the largest and most prolific uranium resources in US history.

Atomic’s Dolores Anticline project is located in the Paradox Basin and the Uruvan Belt only 30 miles from the famous Lisbon Valley in Utah, and only 30 miles from Denison Corp’s White Mesa Mill, the only operating uranium mill in the United States. The Dolores Anticline is in the four corners uranium area made famous by Charlie Steen who discovered a massive, highly-enriched uranium deposit, which became the Mi Vida Mine in the Lisbon Valley, Utah in 1952. Steen’s was the first massive find in the uranium boom of the 1950’s prompted by government support of the industry to fuel the Manhattan Project during World War II.

Uranium was so prolific in the area in the 1950’s that Moab, Utah earned a reputation as the uranium capital of the world. By 1955 the Colorado Plateau was home to 800 uranium mines. By the end of the boom in 1962 Utah had produced over 9 million tonnes of ore before the government-boosted boom ended with dwindling demand due to the end of the war.

Picking up where history left off, Atomic’s Dolores Anticline project consists of 1,177 claims in the area, totalling 24,280 acres in the Dolores Anticline, an asymmetrical northwest trending fold in the Paradox Basin.

An anticline is a fold in the layers of rock that pushes the earth up into a dome shape. The folding can create gaps – known as traps – where oil, natural gas and uranium tend to gather.

Utilizing existing literature on the area, geological analysis and a radon survey, Cady Johnson, PhD author of a Feb. 2007 NI 43-101 technical report on the Dolores Anticline project, concluded, “It is clear that there is good potential for undiscovered uranium deposits to exist beneath the properties considered here. Fractures known to have been conduits for mineralizing solutions, carbon-facies rocks that host all known uranium deposits in the Slick Rock and Lisbon Valley Districts, and paleochannels in the Moss Back Member of the Chinle Formation are all present or judged to be present beneath the subject claims.”

Following recommendations from the 43-101 report, Atomic Minerals began drilling on the first transect of the Dolores Anticline in mid-November 2007. Atomic plans a 30,000-foot program at the Summit Point and Box Canyon Exploration Projects

To add to great properties, Atomic Minerals has attracted some of the best people in the business to join its team. On December 19, Atomic announced it has appointed John J. Sutherland as a director of Atomic Minerals. Sutherland is best known for his advisory role with growth companies – with particular emphasis on mineral exploration companies – and appears to have a Midas touch.

Sutherland serves as a director with Aquiline Resources (TSX:AQI), the sole owner of the Navidad Silver-lead deposit, which contains an astounding 453 million ounces silver and 3 billion pounds lead, making it the largest resource of its kind in the world. Aquiline’s recent court success in procuring sole rights to that property is a major coup for both the company and Sutherland.

Notably, Sutherland was CFO of Arequipa Resources leading up to its acquisition in 1996 by Barrick Gold for $1.1 billion. He also co-founded and acted as Vice President and CFO of Tekion Inc., which he grew from 4 to 75 employees in the space of less than three years while raising $18 million in capital.

At present, Sutherland is Vice President and Chief Financial Officer of Goldgroup Resources, Corporate Secretary of Uracan Resources and a director of four other publicly listed companies.

Atomic’s Vice President of Exploration, Richard Dorman has extensive history mining for uranium in Colorado, Wyoming, Utah and Nevada. He works with Mark Steen (the eldest son of Charlie Steen) actively exploring in various areas in the Lisbon Valley. He has recently attracted the attention of James Finch, a US based uranium pundit who said of Dorman’s projects in the Lisbon Valley, “the area is right, and it may be ripe for a discovery.”

If so, Atomic has all the right ingredients – an experienced exploration team, financial leadership, connections within the uranium industry and properties in one of the best-known and most prolific regions in the United States. Also attractive is Atomic’s tight share structure and a price tag that flirts promisingly with its 52-week low.

Investors can expect results from the first portion of the drill campaign at the Dolores Anticline to be announced early in 2008.

Investor Interest Climbs on Teryl Resources’ Gold Hill News

By Paul Wallis

Teryl Resources Corp. (TRC.V: TSX) is a diversified explorer with interests in oil and gas as well as minerals. In a global mining bull market, companies, particularly on their lows, are often undervalued. The Teryl share price recently started acting like a seismograph in the first stages of registering a tremor on the TSX charts.

Teryl holds a wide range of properties and has major JV partnerships near major producing mines in Alaska, for example, but right now it’s the new property in Arizona that’s showing signs of changing the big picture in terms of assets and potential revenue. Teryl has seven patented claim blocks, totaling 248 acres, in the Warren Mining District, Cochise County, Arizona. The Gold Hill prospect includes the Old Gold Hill, Superior, and Baston mines. The company owns a 100% interest, subject to a 10% net profit interest for the vendors.

The Warren Mining District area was first opened up in the 1860s, and is Arizona’s iconic mining showpiece. The Phelps Dodge Corporation’s Lavender Pit mine, which is only a few miles from Teryl’s property, is one of the global all-time major copper producers, extracting 75 million tons of ore, which produced a billion dollars worth of copper, gold and silver in the process. The Bisbee area, where Teryl is drilling, has been in continuous commercial production for nearly a century.

Interestingly, the Lavender Pit has been reactivated for test drills following copper’s spectacular return to favor as a commodity. Teryl has apparently found the right commodity at the right time. Demand for copper is rising, with China’s insatiable production levels driving the trend and prices.

Teryl’s holdings contain a lot of old small scale works, including pits, cuts, placer digs, and small shafts. Work to date has identified strong indications of a gold/copper pattern of mineralization on the property.

Consensus of opinion at this stage is that the mineralization pattern is similar to proven deposits in Nevada’s Carlin Trend and Teryl’s neighbor Phelps Dodge’s Copper Queen deposit at Lavender Pit. The site is considered to have the potential to be a lode-type copper deposit. That fits with the pattern of mining in the area, where lode mineralization is well known.

(The phenomenon of similar regional deposits isn’t unusual in areas of high mineralization. Australia’s Broken Hill was producing new finds in the mid 20th century, long after the initial major discoveries in the 1880s and intensive searches.)

Teryl is backing that professional judgment, and on December 3 announced that it had begun drilling on three priority targets at the Bisso site on Gold Hill. The company is also in the process of acquiring a further 640 acres adjoining its Gold Hill interests. The expansion and consolidation of holdings is necessary to cover possible extensions of the deposits, and establish Teryl’s significant rights over the area.

The first natural issue for market consideration is financing. The company has a history of getting backing when it needs it. The TSX financing notices since 2002 read like a “How To Finance Your Operations Manual” for exploration miners. Teryl hasn’t had trouble finding backers for selective private placements. It says something for the credibility of the company that after a net loss of $465,000 for the year, the company made a placement for $407,000 in share warrants in August 2007.

More impressively, that private placement backing, which amounts to over CAD $4.3 million dollars in the last five years, is unswerving, despite the hard slog of exploration mining overheads. Teryl’s history indicates a pattern of holding assets, joint ventures, and carefully focused expenditure. Teryl’s CEO, John Robertson, has been running the company for 25 years, which explains the consistency of the company’s approach to business.

From the market’s perspective, the new finds, if realizing their early indications, constitute a potential significant positive change in net asset backing for Teryl’s shares. For the purposes of a formal valuation, Teryl is currently continuing its pattern of holding assets. The company has recently renewed its interest in its joint gold mining venture at Fish Creek until 2009, and retains its other Alaskan gold operations, indicating that the existing asset base is stable and functional.

There are strong potential upsides to the Gold Hill venture. The company has a lot of possible options for how it can develop the Gold Hill property into a revenue stream. Teryl’s joint venture approach, for example would be one possibility. Gold and copper are at historically good prices and commercial interest from the industry can be expected if the ore bodies live up to their promise.

This could be a seminal point in the company’s history. The potential for significant growth is clear. Teryl’s current moves are consistent with an expanding mode of operations. The company’s Gold Hill property will triple in size with the intended new acquisitions. That’s a fair testimony to the company’s degree of commitment in Gold Hill.

Teryl is also one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX: K; NYSE: KGC). Adjacent to the Gil Project are the Fish Creek Claims that are a JV with Linux Gold Corp. The company has a 100%-interest in the West Ridge property, also in Alaska. Teryl also has a 10% net profit interest from Kinross for the Stepovich Claims – next door to Fort Knox in Alaska – and a joint venture silver prospect located in Northern BC, Canada. Additionally, the company also earns revenues from oil and gas holdings in Texas and Kentucky.

Investor Interest Climbs on Teryl Resources’ Gold Hill News

By Paul Wallis

Teryl Resources Corp. (TRC.V: TSX) is a diversified explorer with interests in oil and gas as well as minerals. In a global mining bull market, companies, particularly on their lows, are often undervalued. The Teryl share price recently started acting like a seismograph in the first stages of registering a tremor on the TSX charts.

Teryl holds a wide range of properties and has major JV partnerships near major producing mines in Alaska, for example, but right now it’s the new property in Arizona that’s showing signs of changing the big picture in terms of assets and potential revenue. Teryl has seven patented claim blocks, totaling 248 acres, in the Warren Mining District, Cochise County, Arizona. The Gold Hill prospect includes the Old Gold Hill, Superior, and Baston mines. The company owns a 100% interest, subject to a 10% net profit interest for the vendors.

The Warren Mining District area was first opened up in the 1860s, and is Arizona’s iconic mining showpiece. The Phelps Dodge Corporation’s Lavender Pit mine, which is only a few miles from Teryl’s property, is one of the global all-time major copper producers, extracting 75 million tons of ore, which produced a billion dollars worth of copper, gold and silver in the process. The Bisbee area, where Teryl is drilling, has been in continuous commercial production for nearly a century.

Interestingly, the Lavender Pit has been reactivated for test drills following copper’s spectacular return to favor as a commodity. Teryl has apparently found the right commodity at the right time. Demand for copper is rising, with China’s insatiable production levels driving the trend and prices.

Teryl’s holdings contain a lot of old small scale works, including pits, cuts, placer digs, and small shafts. Work to date has identified strong indications of a gold/copper pattern of mineralization on the property.

Consensus of opinion at this stage is that the mineralization pattern is similar to proven deposits in Nevada’s Carlin Trend and Teryl’s neighbor Phelps Dodge’s Copper Queen deposit at Lavender Pit. The site is considered to have the potential to be a lode-type copper deposit. That fits with the pattern of mining in the area, where lode mineralization is well known.

(The phenomenon of similar regional deposits isn’t unusual in areas of high mineralization. Australia’s Broken Hill was producing new finds in the mid 20th century, long after the initial major discoveries in the 1880s and intensive searches.)

Teryl is backing that professional judgment, and on December 3 announced that it had begun drilling on three priority targets at the Bisso site on Gold Hill. The company is also in the process of acquiring a further 640 acres adjoining its Gold Hill interests. The expansion and consolidation of holdings is necessary to cover possible extensions of the deposits, and establish Teryl’s significant rights over the area.

The first natural issue for market consideration is financing. The company has a history of getting backing when it needs it. The TSX financing notices since 2002 read like a “How To Finance Your Operations Manual” for exploration miners. Teryl hasn’t had trouble finding backers for selective private placements. It says something for the credibility of the company that after a net loss of $465,000 for the year, the company made a placement for $407,000 in share warrants in August 2007.

More impressively, that private placement backing, which amounts to over CAD $4.3 million dollars in the last five years, is unswerving, despite the hard slog of exploration mining overheads. Teryl’s history indicates a pattern of holding assets, joint ventures, and carefully focused expenditure. Teryl’s CEO, John Robertson, has been running the company for 25 years, which explains the consistency of the company’s approach to business.

From the market’s perspective, the new finds, if realizing their early indications, constitute a potential significant positive change in net asset backing for Teryl’s shares. For the purposes of a formal valuation, Teryl is currently continuing its pattern of holding assets. The company has recently renewed its interest in its joint gold mining venture at Fish Creek until 2009, and retains its other Alaskan gold operations, indicating that the existing asset base is stable and functional.

There are strong potential upsides to the Gold Hill venture. The company has a lot of possible options for how it can develop the Gold Hill property into a revenue stream. Teryl’s joint venture approach, for example would be one possibility. Gold and copper are at historically good prices and commercial interest from the industry can be expected if the ore bodies live up to their promise.

This could be a seminal point in the company’s history. The potential for significant growth is clear. Teryl’s current moves are consistent with an expanding mode of operations. The company’s Gold Hill property will triple in size with the intended new acquisitions. That’s a fair testimony to the company’s degree of commitment in Gold Hill.

Teryl is also one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX: K; NYSE: KGC). Adjacent to the Gil Project are the Fish Creek Claims that are a JV with Linux Gold Corp. The company has a 100%-interest in the West Ridge property, also in Alaska. Teryl also has a 10% net profit interest from Kinross for the Stepovich Claims – next door to Fort Knox in Alaska – and a joint venture silver prospect located in Northern BC, Canada. Additionally, the company also earns revenues from oil and gas holdings in Texas and Kentucky.

PMI Gold Leads with High Grades and Profit Margins

By Katherine Young

Everyone knows the adage—buy low and sell high, but buying low means buying what few others value. Just a few sellers can attract more panicked selling and, conversely, a couple major shareholders can spur more optimistic buying. Market leaders have the courage and skill to stray from the herd and buy a stock based on its actual value, not simply because everyone else is buying.

The same logic holds true for exploration companies: Create investor wealth by buying and developing properties where others have failed – due to higher commodity prices, market conditions, politics or lack of courage or skill.

PMI Gold’s (TSX.V:PMV) President Doug MacQuarrie has had his eye on the Asankrangwa gold belt in Ghana, West Africa since 1994 when he co-commissioned the first modern, geophysical airborne survey flown over the belt. The survey determined that the belt was a major unexplored break, equivalent in features and structure to the prolific Ashanti belt located nearby. The major difference being that although virtually the entire belt had been staked by juniors, the Asankrangwa has had far less production than Ashanti.

So when the gold price fell and the juniors began to drop away en masse, MacQuarrie and his Ghanaian partners followed his contrarian instincts and bought concessions along the Asankrangwa, in the heart of the Ghana Gold Triangle, for a fraction of the price they would cost today.

It’s this kind of maverick thinking that put PMI ahead of the curve before the bull market started and continues to distinguish it today.

MacQuarrie plans a mine distinctly different from its peers. Intent on moving to production on its Kubi project, MacQuarrie envisions a small, inexpensive 500 tonne per day operation that targets high-grade gold initially averaging between 12 and 15 g/t, and results in about the same amount of gold produced as in a bulk-tonnage low-grade open pit mine.

Kubi, which PMI acquired in October of this year, has a 43-101* compliant resource estimate of 604,000 indicated ounces of gold and 315,000 inferred ounces. Between 1999 and 2005 the Kubi mine produced 59,000 ounces of gold for AngloGold Ashanti from 500,000 tonnes of ore at an average grade of 3.65 g/t.

Before completing pre-feasibility on Kubi, PMI is focused on raising $50 million in project financing to put both the Kubi and Obotan past producing mines back into production as underground operations. The Kubi project is further advanced and PMI will move on it first, developing toward pre-feasibility as soon as financing is in place. The mining lease has already been issued. The mine is located only twenty minutes south of infrastructure at Obuasi, Ghana’s main underground mining district. And because the gold grades are high, MacQuarrie plans to move to production within eighteen months.

Mining high-grade, low tonnage presents the opportunity for lower capital costs, lower financing requirements, and short time lines to production. However, like in the past, when MacQuarrie bought concessions in Ghana at the same time as other juniors were selling off, MacQuarrie appears the contrarian.

“We are serious about putting two mines into production and concentrating on margin,” he says. His model is different. It’s not large scale, and it’s not high tech, but it is potentially lucrative.

And there are side benefits. Mining in a developing country like Ghana, creates the opportunity for providing labour for hundreds of trained but unemployed locals. Instead of spending money on expensive capital equipment such as a jumbo drill rigs which employ few operators, PMI is able to train and pay many unemployed Ghanaians to use and repair cheap low-tech conventional equipment like jack-legs and stopers, while saving on capital costs.

Similarly, instead of processing hundreds of thousands of tonnes of ore in a huge open pit, PMI can keep its environmental footprint light and save on reclamation costs, all for the same net amount of gold. Projects like this, MacQuarrie contends, “are easier to sell to developing countries. You don’t end up having to move families and villages, and provide more and longer term employment opportunities.”

In addition to Kubi, production at Obotan is on the horizon as well. Past production at Obotan on the Asankrangwa belt totalled 730,000 ounces of gold – 590,000 of which came from the Nkran pit with the remaining 140,000 from the Adubiaso and Abore pits.

While there isn’t yet a 43-101 resource estimate for the Nkran project, Golder Associates have been commissioned to prepare one for early 2008. PMI Gold believes there is an exploration target of up to 2 million ounces under the Nkran pit.

Recent assays from a 2,539 m drill program on the Obotan property included highlights from the Nkran pit of 44.5 m of 2.61 g/t gold testing the down dip extension of the orebody. And a drill hole 170 m to the south of the southern end of the pit returned a highlight of 2.7 m of 8.91 g/t gold.

MacQuarrie is confident in his strategy, however different it may be. And he has another plan that should sound good to investors: “Once we’ve paid back the bank we’re going to pay our shareholders a significant percentage of our net earnings, after all the bank debt is retired, as dividends.”

PMI stock is currently trading at about $0.24 with a 52 week high of $0.47. Fully diluted, the company has 87M shares outstanding.

Astral Achieves Astronomical Results at Jumping Josephine in Southeastern BC
By Sylvia Young

There’s a popular inspirational quote that goes: “Shoot for the moon. Even if you miss, you’ll land among the stars.” In that case, Astral Mining Corp.’s (TSX.V:AST) management may well have exceeded its target. Both management and investors are likely over the moon given that the company, along with joint venture partner Kootenay Gold (TSX.V:KTN), announced some stellar results from the latest round of drilling at the Jumping Josephine (JJ) Gold Project in southeastern BC. As per the company’s November 29 press release, assay results from 14 diamond drill holes from the Phase II drill program on the JJ Main Gold Zone are in. Best results include 7.74 g/t Au over 5 meters, including 15.99 g/t Au over 2 m; and 12.44 g/t Au over 8 m including 26.9 g/t Au over 3 m. These results are significant in that they further confirm significant gold mineralization within what is known to be a large quartz stockwork system.

The property consists of 24 contiguous claims acquired by Kootenay and seven Crown-granted claims optioned to Kootenay. The 11,785 hectare project hosts the historical Granville Mountain mining camp – a mining district which has produced over 9 million ounces of high-grade Au, as well as several newly-discovered vein hosted, shear-related gold showings.

Infrastructure support is excellent, as the property is located 40 km north of Teck Cominco’s smelter at Trail and 30 km west of Castlegar. The property’s proximity to Rossland and Trail (both historic mining towns) provides easy access to a local skilled labor force. The added bonus of favourable weather conditions and major highway access allows for year-round drilling at JJ.

Previous interest in JJ focused mainly on the formerly producing Granville Mountain camp. Until 1940, gold, silver, copper, lead and zinc were mined from several workings in the area. After World War II, there was little activity in the area, save for limited production from Albion. The area was explored sporadically from the late 1960s until the early 1990s. Kootenay acquired the property in 2003.

Since May 2006, Astral has broadened its exploration scope beyond JJ’s Main zone, and has started evaluating the new gold showings discovered by Kootenay. Prior to drilling, Astral conducted a property-wide airborne geophysical survey, soil sampling over three areas, further property-wide prospecting, as well as further grab sampling and trenching for some 775 m at the JJ Main showing.

The company has just wrapped up Phase II of drilling, having completed 38 drill holes totaling 5,100.84 m. This year’s drill results are currently undergoing detailed interpretation as management lays the groundwork for Phase III of drilling in 2008. Assay results have yet to arrive on the remaining 18 holes.

The company’s 43-101 report was co-written by Dale Brittliffe and Dr. David Terry, Astral’s vice-president of exploration. They describe a geological setting in which “gold mineralization at JJ is predominantly within auriferous quartz veins, shears and stockworks hosted by mid-Jurassic intrusives or older Mount Roberts Formation rocks….quartz veins can have very high gold grades (Kootenay grab sample BZT-09 up to 558g/t Au). Samples from JJ Main return gold values up to 133.91g/t Au and show a general Pb-Ag-Sb-As (lead-silver-antimony-arsenic) association and to a lesser extent Hg-Cd-Cu. (mercury, cadmium, copper)”

The report further recommends JJ as “a high quality gold exploration property with the potential to host an economic gold deposit. Results of first pass work in 2006 were very encouraging, and support the proposed programme for the 2007 season estimated at CAD$780,000. Exploration work outlined below seeks to evaluate more advanced showings such as JJ Main, provide first pass exploration for showings not yet tested such as Borrow Pit, JJ West and Pb-Zn and also includes work to identify further zones of mineralization between known gold occurrences in favourable lithologies.”

On the financial side, several fundamental strengths highlight Astral’s status as a rising star among juniors. The company’s management has gone to great lengths to minimize risk to shareholders by joining forces with Kootenay. The joint-venture agreement provides an excellent vehicle for maximum returns with minimum financial and political risk. Both companies work only in areas of known mineralization in mining-friendly parts of North America. Astral has assembled a diversified portfolio of properties in BC, Nevada and North and South Carolina. Funding has already been established for Phase III drilling, as the company has recently completed two financings.

One of the best things about this play is its tight share structure– with only 25,134,614 shares fully diluted. More good drill results, coupled with this kind of liquidity, could easily create the kind of momentum needed for brisk price gains.

With gold seemingly establishing a new base at $800 an ounce, many properties in easily accessible parts of southeastern BC are getting a well-deserved second look. With 20 out of 38 drill hole assays already in at JJ, the impetus for further exploration is clear – making it an excellent time for Astral’s investors to hitch their wagons to a star.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

Commerce Resources on track to become largest North American tantalum supplier

By Anne Fletcher

Commerce Resources Corp. (TSXV: CCE; FSE: D7H), bolstered by its latest drill results, is on track to break ground on North America’s first stand alone tantalum/niobium mine within two years.

However, that’s not going to happen fast enough to help The Boeing Company meet a 2008 year-end delivery deadline for its new 787 Dreamliner commercial aircraft.

Chicago-based Boeing, in a move that points to a global shortage of tantalum, has recently pushed its Dreamliner schedule back by six months. The first 30 to 35 of the new passenger aircraft won’t be delivered until 2009, because of both software integration problems and a shortage of corrosion-resistant tantalum fasteners.

Commerce is still in the midst of a two-year-long provincial environmental assessment on its Upper Fir property, 300 kilometers north of Kamloops, in central British Columbia, which should be done by May or June 2008.

With that certificate in hand, the Vancouver-based company will then turn to the British Columbia Ministry of Mines for a permit to work its Blue River property in the interior of the province.

If all goes well, the permit will come through in time for a 2009 spring start.

Tantalum has the highest capacitance of any metal known, meaning the ability to hold and release electrical charge instantaneously. That makes it essential to most electronic devices as the material used for the capacitors found in most consumer goods such as mobile phones, computers and digital cameras as well as in automotive applications (anti-locking brakes, airbag-firing mechanisms) and medical technologies such as hearing aids and pacemakers.

The world’s largest tantalum producer, Sons of Gwalia Ltd., now known as Talison Minerals, has, historically, supplied up to 55% of the world market from its Greenbushes and Wodgina mines in Western Australia. In the West, that market percentage could run as high as 85%.

However, SOG disclosed in July, 2004 that it may have run out of its surface high grade (300 g/t with a 55% recovery rate), forcing capital spending on underground mining of lower grade deposits.

Shortly afterwards, the public company went into receivership, and was purchased and renamed by private American interests only this year.

Drill results since Commerce started staking its Blue River property in 2000 have established Upper Fir as a viable mine site with a 6-10-year life.

The prospective mine life may double or even triple with the results from 18 more holes drilled this past summer. Those results not only confirmed that the Upper Fir carbonatite is sub-horizontal, allowing for open-pit mining, but also enlarged the strike area to more than a kilometer north-south and more than half a kilometer east-west.

(Carbonatites are rare rock types containing equally rare minerals, including niobium and tantalum.)

As well, this past summer’s exploration turned up two new carbonatites - Lower Gum Creek and Lower Switch Creek - about two kilometers east of the Upper Fir deposit. Currently, the company is expecting the results back from the drilling of the Switch Creek site, spurred by one anomalous sample from the late 1980s containing 2,900 grams per tonne (g/t) tantalum. That compares to an average of 200 g/t in the Upper Fir deposit.

While work is now concentrated on the Upper Fir, Commerce had staked an area covering about 500 square kilometers, including the Fir and the Verity properties. Last month, the company doubled its property by staking another 95 claims covering more than 100,000 acres to the south of the Bone Creek watershed.

The new claims cover a large ultramafic area about 12 km southeast of the Upper Fir deposit, and give Commerce ownership of mineral tenures in areas where mine infrastructure may be built.

The Upper Fir property has an indicated resource of 8.6 million tonnes, grading 208.9 g/t Ta2O5 and 1,372 g/t Nb2O5, and an inferred resource of 5.5 million tonnes, grading 208.2 g/t Ta2O5 and 1,349g/t Nb2O5.

The Fir deposit has an indicated resource of 5.65 million tonnes grading 203.1 g/t Ta2O5 and 1,047 g/t Nb2O5, with an inferred resource of 6.74 million tonnes, grading 203.1 g/t Ta205 and 1,047 g/t Nb2O5.

The Verity property has an inferred resource of 3.06 million tonnes, grading 196 g/t Ta2O5 and 646 g/t Nb205.

The metal niobium has a wide range of properties - heat resistance, high thermal conductivity, elasticity, corrosion resistance, and the ability to form a stable and adhesive layer of oxide.

But it is most prized for its use in steel alloys used in pipelines, cars and structural steels. A 2% alloy of niobium can triple the tensile strength of steel from a PSI (pounds per square inch) of 40,000 to a PSI of 120,000, making it a reasonable alternative to vanadium.

Niobium’s price has also skyrocketed this year, from US$7 per pound in January to its current level of around US$28/lb. Encouraged by the healthy market, Commerce last spring staked 88 claims in Quebec’s Labrador Trough, surrounding eight claims held by Virginia Mines Inc. (TSX: VGQ).

Those eight claims cover most of the Eldor Carbonatite Complex, an elliptically-shaped area approximately 7.75 km by 2.5 km with known, localized high concentrations of niobium and tantalum. Grab and channel samples have ranged from 1.15% to 11.4% Nb205 and 0.046%-0.21% Ta205.

In May, for the price of 710,000 shares and 290,000 share purchase warrants, Commerce took over those claims from Virginia Mines and embarked on a summer of soil sampling and line cutting. The results of those assays should be available by November.

The Eldor Carbonatite compares in size to the Araxa Carbonatite Complex in Brazil, which measures about 4.5 km in diameter. It contains the world’s largest known deposit of pyrochlore, from which niobium is obtained, and is mined by the Brazilian company, Companhia Brasileira de Metalurgia e Mineracao (CBMM).

CBMM, currently supplying up to 70% of the world market, says it has enough reserves to meet the global need for niobium for the next 500 years. But the private company may not be meeting the same disclosure standards as Canadian public companies. As well, buyers looking at the quality of CBMM’s product are known to be checking around for other suppliers.

While Commerce has had a standing invitation for partnership proposals, a recent private placement of $32.746 million, added to the $7.5 million already in hand, means the company can now manage on its own.

Another $45 million could be raised through the exercise of warrants bringing total financing to just over $80 million, enough to get Blue River into production.

With the Yellowhead Highway and the Canadian National Railway both crossing Commerce’s property, the company will have an easy choice of sending its tantalum concentrate, processed at the mine site, to either Vancouver or Edmonton.

The next step would be to turn the concentrate into tantalum oxide, but Commerce hasn’t yet considered whether it would build its own processing plant, partner with another company or hand off the product at that point.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

NioGold Breathes New Life Into Former Mines

By Peter Kent

There’s a saying in the mining business that goes like this: “The best place to find a new mine is next to an old mine.”

It sounds trite, but recent developments around the world have demonstrated the truth behind the saying.

NioGold Mining (TSX.V:NOX) has just finished drilling over 10,000 metres of a planned 40,000 metre drill program on its wholly owned Marban Block property. This initial round of the program is investigating gold mineralization in the area immediately surrounding the past-producing Marban Mine. All of the holes indicated that the geologic features that helped establish the Marban Mine are also present in the ground around the mine.

Certain veined and mineralized sections bear strong similarities to Agnico-Eagle’s (TSX:AEM) Goldex deposit (which contains an estimated 21.4 million tonnes grading 2.39 g/t Au for a total of 1.64 million ounces of gold) located 10 kilometers to the southeast. Follow-up holes are planned.

NioGold first drilled 10,000 metres across 63 holes during its 2006 exploration program.

Jay Taylor, a respected and widely followed investment analyst who has recommended the company to his subscribers, thinks the Malartic Gold Camp is an “outstanding” area to be developing gold resources.

“NioGold, because it’s in a historic gold camp, is surrounded by infrastructure. You have people, roads, power and milling facilities, so conceivably a company like NioGold could prove up a deposit and put it into production in relatively short order,” he says. “I look at it as a less risky exploration play compared to other projects because it’s in such a well developed location.”

The camps presently encompass several active advanced exploration and mine development projects such as Canadian Malartic (Osisko Exploration – TSX.V:OSK), Kiena (Wesdome Gold Mines – TSX:WDO), Midway (Northern Star Mining – TSX.V:NSM), Goldex (Agnico-Eagle) and Lac Herbin (Alexis Minerals). The Marban Block encompasses three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines. These companies collectively produced 592,265 ounces of gold.

The Marban Block project is located in the western portion of the province of Quebec, Canada, midway between the towns of Val-d’Or and Malartic, in the southern portion of what is known in mining terminology as the Abitibi greenstone belt. This area falls within the Malartic Mining “camp”, which has yielded a total estimated 8.9 million ounces of gold – worth US $6.2 billion at today’s prices.

The Marban Block has seen exploration since 1940, and at least 14 different companies have explored and/or mined the property since that time.

The project is the result of NioGold’s consolidation of four contiguous properties in the Malartic mining camp – Norlartic, First Canadian, Marban, and Gold Hawk – and consists of 34 mining claims, three concessions, and one mining lease covering a total of 972.8 hectares.

A report by independent geology consultants Mine Development Associates of Canada has put over 342,000 ounces of gold into a National Instrument 43-101 compliant resource estimate, but the recently announced drill results mean that these numbers are growing.

Besides the Marban Block, NioGold has two other ongoing exploration projects in its property portfolio. Briefly, they include the Camflo West Property, where in 2006, NioGold completed geophysical surveys and drilled 11 widely spaced holes (3,300 metres) testing the sediment / volcanic contact. The drilling uncovered high level intrusives and significant alteration similar to those associated with gold mineralization of the Malartic camp. Values of up to 9.08 g/t Au over 1.2 metres were returned from the drilling.

Located 200 kilometers southeast of the town of Val-d’Or and 50 kilometers north of the Mt-Laurier uranium district, Pump Lake is an early stage project that displays characteristics comparable to the Iron Oxide-Copper-Gold (IOCG) class of mineral deposits. These include the association of iron oxides (magnetite, hematite), copper, gold and uranium and the proximity to intrusive rocks. World-Class examples of IOCG’s are found at Olympic Dam and the Cloncurry district (Australia), Candelaria (Chile), Salobo (Brazil), and the Kiruna district (Sweden).

The company is led by Michael Iverson, who was Chairman, Director and Chief Executive Officer of Fortuna Silver Mines (TSX.V:FVI) from March 1998 to December 2004 and who remains as a board member, and Vice-President Rock Lefrançois, whose 20 years in the field has seen his service as senior geologist for Cambior (recently acquired by IAMGOLD Corp [NYSE:IAG]) and Aur Resources (recently acquired by Teck Cominco [TSX:TCK]). His wide-ranging knowledge of exploration methods applied to various styles of mineral deposits and his ability to develop exploration concepts will be an asset in advancing NioGold’s diversified portfolio of projects.

NioGold currently has 61.1 million shares issued and outstanding, with 78.5 million fully diluted. Visit the company’s web site at http://www.niogold.com.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.