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...It's unassailable logical promotion but it cannot be said north of 49 with our 43-101 rules....
oh oh! do you mean to say that I will end up in deep do do, ka ka or what ever if I tell folks "gold is where you find it"? Do I have to be a licenced professional to make that statement? Are you a licenced professional or qualified person (professional prostitute) under 43-101 or do you tell it like it is?
cheers,
teevee
...next door to the Geco Mine?...LOL...that reminds me of someone who owned a huge pile of Hucamp since the 1960's. He said he would retire on it or with it. He retired with it)....
This is the antithesis of glacially transported gold
Oh really? I have seen gold crystals and wire gold still attached to matrix in glacio-fluvial settings that have been transported 10's if not hundreds of kilometers. How is this possible you ask? It happened because of entrainment in ice, allowing abrasion free transport until "dumped" at a static ice front.
it is generally felt that grains which are in residual soil and/or near outcrop may be considered to be undisturbed often, and if they are in good condition, and may be used to map probable bedrock sources.
true....I have seen "potatoe" shaped gold and gold crystals that obviously grew in place. Low tempurature gold transport is well known and documented.
Gold has always been located exactly where I found it.
marcos,
I don't expect Sherwood to go anywhere soon....I heard volume last week was due to a fund getting a new manager. Needless to say, the new manager dumped/is dumping the SWM....I will be watching to see how many the insiders picked up. These are free traders well under a dime. The more insiders have bought, the better as it provides incentive for them to find a good project that can be financed and promoted.....
the sooner Shelton finds the money for their piece of the Azov Sea exploratory well, the better. The problem is that the wells are shallow and it will be over quickly, one way or the other...
cheers
Ni-Pt news alert...
http://www.stockhouse.ca/comp_info.asp?symbol=LIT&table=list
A $.20 VSE company (LIT) with a very tightly held and small share capitalization just did a deal with CZZ on some lands on trend.
Could be interesting....
Ghana? it sounds an awful lot like Guano to me. Thanks, but no thanks.....
Gold Fields looking for gold in Canada...
TSX VENTURE SYMBOL: CBR
FEBRUARY 12, 2003
Committee Bay Resources Ltd. Signs Letter of Intent with Gold
Fields
EDMONTON, ALBERTA--Committee Bay Resources Ltd. (CBR-TXV) ("CBR") is
pleased to report that CBR has signed an arms-length Letter of Intent with
Gold Fields Exploration Inc. ("Gold Fields"), to form a Joint Venture to
explore Nunavut gold projects, whereby an affiliate of Gold Fields will
invest C$300,000 in a private placement with CBR and may earn up to a 65%
interest in an Area of Mutual Interest within the Committee Bay Greenstone
Belt by spending C$ 15 million (US$10 million) on exploration.
John Williamson, the President of CBR stated: "We are thrilled to have
been able to attract a partner with the reputation and wherewithal of Gold
Fields. The importance of this milestone in advancing the Committee Bay
project and in achieving the goals of our shareholders cannot be
overstated. Their participation speaks volumes as to the potential of the
project and the future of Nunavut's mineral exploration industry."
500,000-acre Area of Mutual Interest
The Committee Bay Greenstone Belt is believed to represent one of the
largest unexplored greenstone belts in North America with world-class gold
potential. CBR holds approximately 500,000 acres of land with prospective
geology in the Committee Bay area west of Melville Peninsula, Nunavut,
which will form the Area of Mutual Interest for the Joint Venture.
Exploration performed by the company over the past 10 years has led to the
discovery of more than 45 gold occurrences distributed across the entire
300 km length of the belt. In addition to its gold potential, the
Committee Bay belt is also situated in the same general region as the
developing diamond play currently being explored by Northern Empire
Minerals Ltd., Stornoway Ventures Ltd., BHP-Billiton and De Beers.
Planning is in progress to conduct at minimum a $1.2 million exploration
program comprising airborne AEM geophysical surveying, regional diamond
indicator sampling, rock sampling, gold occurrence prioritization and
diamond drilling.
Joint Venture to spend C$15 Million Plus on Exploration
Under the terms of the Letter of Intent, Gold Fields will subscribe to a
placement of 1,000,000 units of CBR at a price of C$0.30 per unit, each
unit consisting of one common share and one full share purchase warrant
valid for one year at an exercise price of C$0.40 per share. Thereafter,
Gold Fields reserves the right to participate in each private placement
undertaken by CBR by purchasing up to 9.9% of the securities offered. As a
condition of the placement, CBR will grant Gold Fields the exclusive right
to earn a 55% interest in the Joint Venture through expenditures of C$7.5
million (US$5 million) over four years on exploration of the Area of
Mutual Interest. There is a firm commitment to spend C$1.125 million
(US$750 thousand) in 2003, with C$1.5 million (US$1 million) in each
subsequent year.
Upon earning the initial 55% participating interest, Gold Fields will have
the right to earn an additional 10% participating interest (to a total of
65%) in the Joint Venture by spending an additional C$7.5 million (US$5
million) over four years. At that point, CBR may elect to participate
pro-rata in funding future activities of the Joint Venture, or allow Gold
Fields to earn an additional 10% participating interest (to a total of
75%) by completion of a bankable feasibility study.
CBR will be Operator of the Joint Venture until Gold Fields earns the
initial 55% interest and may then elect to nominate an Operator. The
Operator shall propose programs and budgets to a four person Technical
Committee with equal representation from the partners. The Technical
Committee shall manage the Joint Venture with Gold Fields reserving the
casting vote for split decisions.
Pursuant to the Letter of Intent, a definitive Joint Venture Agreement
will be developed for execution within sixty days and shall be contingent
upon executive and regulatory approvals. In connection with this
transaction, CBR will pay an arms-length finders fee in accordance with
policies of the TSX Venture Exchange. Concurrent with this transaction,
CBR is attempting to market a private placement of two million units at a
price of C$0.35 per unit, each to be comprised of one common share and one
half share purchase warrant valid for six months at an exercise price of
C$0.45 per share.
Howard Stevenson, Gold Fields' Manager of Business Development states:
"Nunavut has been on our radar screen for some time as an emerging gold
province and we are very pleased to have this opportunity to establish a
presence there. Committee Bay Resources have assembled a very prospective
land package and we look forward to a successful and productive
relationship."
Gold Fields Limited is one of the world's largest unhedged gold producers.
The company has annual production of 4.1 million ounces, proven and
probable reserves of 79 million ounces and resources of 187 million ounces
in South Africa, Ghana and Australia (all numbers approximate). Gold
Fields is focused on international growth through development of precious
metals mining projects in Australasia, North and South America, Europe and
Africa. Gold Fields is listed on the Johannesburg Stock Exchange (GFI) as
well as on the New York Stock Exchange (GFI), London, Paris, and Swiss
stock exchanges.
That is an interesting way to pick areas of interest. There remain a few other areas of alkaline volcanism that as of yet, have not received any diamond exploration that I am aware of.
Eric,
Here you go:
http://www.northernempireminerals.com/
I believe Catherine McLeod of Arequipa fame is also involved. Both have deep pockets and are well connected.
News was great today! This is the second good looking project in the Eastern Arctic NEM is involved in.
red,
Both SWV and NEM traded like they are going higher. We already know that Coronation airborne and heavy mineral sample results will be coming very soon. There could be more results pending from the Melville too.
chucka,
Shear and Northern Empire have flown the Churchill block. Their news release said over 30 targets will be covered with ground magnetic surveys. The indicator geochemistry is "bar none". I expect numerous diamondiferous pipes will be discovered.
marcos,
Looks like someone has recently been buying up the SWM on the offers with last at $.15....I can't believe anyone would reach that far with such a big spread between the bid and offer-must have a deal in the works....looks like I won't have to wait for 2004 for another shot eh?...those $.06's are looking good now...I wonder if it will be gold or diamonds? ...The price drifted down rapidly last summer and fall on low volume. With a good new prospect, it shouldn't take much to get the price back up.
cheers,
teevee
Well, they are not quiters. We get another kick at the can)
A NORTHAIR GROUP COMPANY
SUITE 860 - 625 HOWE STREET VANCOUVER, BC V6C 2T6 CANADA TEL: (604) 687-7545 FAX: (604) 689-5041
July 25th, 2002
PRESS RELEASE #02-08
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Sherwood Confirms Prospectivity of Elu Belt for VMS-Style Mineralization
Sherwood Mining Corporation (TSX-V:SWM) is pleased to announce the results of an independent review of the
potential of the Elu belt for the discovery of volcanogenic massive sulphide (“VMS”) style mineralization conducted on the
Elu Belt in Nunavut. Consultant Dr. James Franklin Ph.D. FRSC, a respected expert on VMS-style mineralization in
Canada and world wide and former chief geoscientist with the Geologic Survey of Canada, concluded that the Elu belt has
excellent prospectivity for the discovery of VMS deposits.
“It is very encouraging to have an expert of Dr. Franklin’s calibre confirm our belief that the Elu belt has excellent potential
for the discovery of VMS deposits,” said Bruce McLeod, President of Sherwood. “As a result of Dr. Franklin’s report,
Sherwood is planning a follow-up work program at Elu as per Dr. Franklin’s recommendations.”
Sherwood’s 100% owned Elu property encompasses a greenstone belt where to two parallel belts of felsic volcanic
stratigraphy located approximately 4.5 km apart that are prospective for the discovery of volcanogenic massive sulphide
deposits. As previously reported, during 2002 ground geophysics and drilling of 15 core holes were completed and results
suggested that the eastern trend is the most prospective, particularly in the Grizzly and Fox areas. Four drill holes in this
area intersected semi -massive sulphides in a favourable geologic setting while one interested two intervals of massive
sulphides.
Dr. Franklin was retained to review all the results of the exploration drilling, with a particular emphasis on the alteration,
geochemistry and geologic setting, with a view to evaluating the potential of the Elu belt to host VMS-style mineralization.
Dr. Franklin reports that the volcanic rocks exhibit a clear bi-modal origin, while argillaceous sediments (which could act
as an effective cap rock) appear to fill pull-apart basins within the volcanic pile and, suggesting an extensional basin
environment in an evolved arc system. This is a typical setting for VMS deposits. A number of factors, including the
geologic setting, host rock chemistry, trace element geochemistry, metal ratios and alteration zonation, led Dr. Franklin to
conclude that the Elu belt has excellent prospectivity for VMS deposits, particularly along the eastern trend.
Based on the results of his assessment, Dr. Franklin recommends detailed mapping and sampling along the favourable
horizons to further refine the targeting for future exploration drilling. A program is currently being planned in accordance
with these recommendations, and is expected to be completed in August 2002.
Quality Assurance/Quality Control
This information is reported under an extensive quality control program supervised by Dean McDonald, P.Geo. Ph.D.,
Exploration Manager with Miramar Mining Corporation, the major shareholder of Sherwood. Dean McDonald is an
appropriately qualified person as defined by National Instrument 43-101. Miramar Mining Corporation (TSE:MAE) owns
10 million shares of Sherwood.
ON BEHALF OF THE BOARD OF DIRECTORS
“D. Bruce McLeod”
You think the Elu is drilled and killed? ...
Yes, in a word.
.... then there are the diamond properties, yes, looks like Miramar intends Sherwood to be their exploration vehicle for anything other than Hope Bay? ... they have a big interest here ...
yup
as for promotion, i didn't notice any anywhere, but there could have been something go out that would explain that trading 22-29 May ... missed it, i was quite busy and away most of that time ... the drillbit plays generally have not gotten attention lately, gng.v is another without anything defined to date, it's acting pretty sick ......
A drill play I am interested in and following is FPX and their gold play down south in central america.
so did you sell swm on that weak excuse for a run?
Sadly, no.
marcos,
I'm thinking the best remaining hope forSWD is for some good indicator minerals to be found down ice from some anomalies that will show up from re working the airborne geophysical database. It was a short lived promotion eh)
cheers,
teevee
Will,
SUF has just finished a road show in the USA. I wouldn't be surprised to see a financing quickly follow. If this happens, I wouldn't be surprised to see SUF perform like SWC did after it financed a production expansion. The AIMs listing should help broaden the shareholder base as well.
I find FNX to be compelling even at the current price. Production is planned to start later this year. I expect FNX will become THE North American pgm story for the next 3 years at least. The pgm aspect of the Sudbury Basin is not yet well known outside of economic geology circles.
cheers,
teevee
SWM-volume price alert...wow...there was a wall at $.33 and it got taken out! I can hardly wait for the news. Maybe a halt coming?
Any interest in platinum group metal (PGM) stocks and especially emerging producers? I have two that I own:
1. SUF.TO Southernera (www.southernera.com)
2. FNX.TO Fort Knox (www.fnxmining.com)
Southernera is building a mine in South Africa on the Bushveld Igneous Complex-contains more pgm than the rest of the world put together. The resource on SUF's tenements is over 15 million ounces and growing.
FNX will start mining this fall in the Sudbury Basin. The Sudbury Basin also contains one heck of a lot of pgm, but the deposits will be more amenable to bulk mining and with higher grades. I believe over the next 4-5 years, FNX has the potential to become THE pgm producer in North America ahead of Stillwater Mining (SWC-NYSE).
cheers,
teevee
marcos,
With the sudden interest in SWM, I've been thinking that some of the massive suphide conductors have been drilled and the core looks good, but with all the airborne geophysical data, maybe SWM has hit some kimberlite? All the sudden interest is for good reason. I will check to see if any more staking has been going on. That might tell us if it is a diamond play or not.
cheers,
teevee