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MV2008L2-0002 - CZN - Minister Approval letter for type A WL - Sept17-13.pdf
http://www.mvlwb.ca/Boards/mv/SitePages/search.aspx?Company=Canadian+Zinc+Corporation&startdate=2013-9-17&enddate=2013-9-17
American Bonanza Gold Corp.
TSX : BZA
OTCQX : ABGFF
American Bonanza Gold Corp.
June 19, 2013 08:00 ET
American Bonanza Provides Copperstone Gold Mine Progress for May 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 19, 2013) - American Bonanza Gold Corp. (TSX:BZA)(OTCQX:ABGFF) ("Bonanza" or "Company") is pleased to announce progress at the 100% owned Copperstone gold mine in Arizona during May 2013.
May saw 1,041 ounces of gold produced, a 5% increase in ore grade, improvement in the mill recovery, and a 41% increase in development footage as the focus on providing access to new ore zones continues. Improvements continue into June, with production for the first 16 days of the month totalling 746 ounces of gold.
Production Summary (see below for detailed breakdown of figures)
Development Mining January '13 February '13 March '13 April '13 May '13
Zones <4 7 6 5 4
Development mined 146 t/d 253 t/d 167 t/d 291 t/d 399 t/d
Ore Mining
Total rock mined 463 t/d 562 t/d 474 t/d 622 t/d 766 t/d
Ore mined 317 t/d 308 t/d 347 t/d 331 t/d 367 t/d
Rounds per day mined 5 4.3 5.2 4.9 5.2
Ore Processing
Ore processed 322 t/d 315 t/d 333 t/d 346 t/d 349 t/d
Mill recovery 82% 86% 80% 81% 89%
Concentrates
Gravity concentrate 15 Oz/ t 47 Oz/t 34 Oz/t 30 Oz/t 43 Oz/t
Flotation concentrate 23 Oz/t 30 Oz/t 18 Oz/t 27 Oz/t 21 Oz/t
Gold produced 520 Oz 878 Oz 670 Oz 815 Oz 1,041 Oz
Concentrates
1,041 ounces of gold were produced during May, comprised of 271 ounces of gold contained in flotation concentrate and 769 ounces of gold in gravity concentrate.
Ore Mining
•Total ore mined during May was 11,368 tons, which is 1,435 more tons than during April. A total of 806 feet of ore was mined in May, 2% less than April.
•The mine performed at an average of 5.2 rounds of mining progress per day.
•The focus of the engineering and geology departments continues to be the improvement and maintenance of grade and tons via the development of more ore headings, and the on-going drilling and assay work to limit dilution of higher grade ore.
Development
•This month saw further progress made towards the strategic ore reserves in the C zone targeted for third and fourth quarter mining.
•During May development footage increased by 41% to 703 feet1 from April's figures.
Ore Processing
•The milled tons increased from 10,393 tons in April to 10,843 tons in May.
•The grade also improved from 0.0969 ounces of gold per ton in April to 0.1073 ounces per ton in May.
•Mill recovery during May averaged 89% which is 8% more than April.
To view accompanying graph, visit the following link: http://media3.marketwire.com/docs/2013_Gold_Production_Chart.jpg
Mr. Brian Kirwin, President & CEO, commented:
"Achieving design rates continues to be our focus and priority. Following the availability of additional working capital announced on the 12th of June, it is expected that additional equipment and inventory of parts will help to accomplish this goal."
Mine and mill performance for the month of June will be announced towards the end of July.
Doug Wood, P. Geo the Vice President of Exploration of the Company, is the "qualified person" as defined in NI 43-101 who has reviewed and approved the technical information in this news release.
About American Bonanza Gold Corp.: Bonanza is operating the newly constructed Copperstone gold mine in Arizona. For more information please visit Bonanza's website at www.americanbonanza.com.
AMERICAN BONANZA GOLD CORP.
Brian Kirwin, President & Chief Executive Officer
We Seek Safe Harbour.
1 April saw 498 feet of development footage in April, not 827 feet; the result of a typing error in the April Progress Release (28th May 2013), which is 6% less (not 56% more) than in March.
Contact Information
American Bonanza Gold Corp.
James Bagwell
1-877-688-7523
American Bonanza Gold Corp.
Emma Nicholson
+44-207-993-6975
info@americanbonanza.com
www.americanbonanza.com
"The Company proposes an ordinary resolution to issue up to 200,000,000 additional Units having the same terms and conditions as the Units described above."
Doesn't make any sense to me at all that the above would be proposed unless current shareholders were allowed to participate (perhaps on a basis which is proportional to their currrent percentage holding?) . I cannot imagine that the company would have underestimated the start-up CAPEX and continued development costs by an amount of nearly $10milion. And it only makes sense that they would delay development until we had sufficient cash-flow,( and only then do a staged equity raise and staged development) and /or delay until such time that macroeconomics and the price of gold improved (and are SP followed) . Hopefully the additional information in the circular will thoroughly delineate our immediate and proposed financing needs in simple layman's terms.... And presumably we all will have a say/vote on this additional equity proposal.
We are are well aware regarding how tight the current credit markets are, but I cannot believe that a producing gold mine ( with a supposed IRR of greater than 90% at $1400/oz I might add), would not be able to arrange debt financing that would be significantly less dilutive. Even a loan-shark rate of 10 to 15% would be preferable to a near doubling of our outstanding shares and thus potential earnings per share. I would even prefer to be taken over at a SP of $0.05 by a well-run company like Timmins Gold (Sonora Mexico flagship property), than have our share structure be blown out... at least in that scenario we would likely see some SP appreciation a lot sooner....
any comments appreciated.
cheers, luker
Timmins Gold(TMM on TSX-V)Approved for TSX Listing!
VENTURE: TMM
Mar 11, 2011 11:34 ETTimmins Gold Receives Conditional Approval for TSX Listing
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2011) - Timmins Gold Corp. (TSX VENTURE:TMM) is pleased to announce that it has received conditional approval for listing of its common shares on the Toronto Stock Exchange (TSX) under the symbol TMM. Upon filing and acceptance of the final listing application and related documentation the shares will commence trading on the Toronto Stock Exchange and be de- listed from the Venture Exchange. The Company anticipates its listing date to be in March 2011.
Timmins Gold President Arturo Bonillas and CEO Bruce Bragagnolo stated: "We would like to thank the Toronto Stock Exchange for its consideration and conditional acceptance for listing on Canada's senior stock exchange which will facilitate access to larger pools of growth capital and create greater liquidity. This event marks another significant milestone reflecting the rapid growth of Timmins Gold over the last few years."
Timmins Gold is a gold producing company with operations focused in Mexico and is aggressively pursuing its business plan to grow through the development of its existing assets and the pursuit through merger and acquisition of additional assets including Capital Gold Corporation.
Important Information
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This press release relates to a business combination transaction with Capital Gold proposed by Timmins Gold, which may become the subject of a registration statement filed with the Securities and Exchange Commission (the "SEC"). This material is not a substitute for the prospectus/proxy statement Timmins Gold would file with the SEC and Canadian securities regulators regarding the proposed transaction if such a negotiated transaction with Capital Gold is reached or for any other document which Timmins Gold may file with the SEC and Canadian securities regulators and send to Timmins Gold or Capital Gold shareholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF TIMMINS GOLD AND CAPITAL GOLD ARE URGED TO READ ANY SUCH DOCUMENTS FILED WITH THE SEC AND CANADIAN SECURITIES REGULATORS CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Such documents would be available free of charge through the web site maintained by the SEC at www.sec.gov, by calling the SEC at telephone number 800-SEC-0330, or at the web site maintained by the Canadian securities regulators at www.sedar.com, or by directing a request to Timmins Gold at Suite 520 - 609 Granville Street, Vancouver, BC, Canada V7Y-1G5.
Timmins Gold and its directors and executive officers and other persons may be deemed to be participants in any solicitation of proxies from Capital Gold's shareholders in respect of the proposed transaction with Capital Gold. Information regarding Timmins Gold's directors and executive officers would be available in a prospectus/proxy statement Timmins Gold would file with the SEC and Canadian securities regulators regarding the proposed transaction if such a negotiated transaction with Capital Gold is reached or in another document that Timmins Gold may file with the SEC and Canadian securities regulators and send to Timmins Gold or Capital Gold shareholders in connection with the proposed transaction. Other information regarding potential participants in such proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in any proxy statement or other documents filed with the SEC and Canadian securities regulators in connection with the proposed transaction.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "plan", "anticipate", believe", "estimate", "predict", "potential", "opportunity" or "continue" or the negative of these terms or other comparable terminology. These statements are predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, production, reserves, level of activity, performance or achievements to be materially different from any future results, production, reserves, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Actual results could also differ materially because of factors such as Timmins Gold's ability to promptly and effectively integrate the businesses of Capital Gold and Timmins Gold, the timing to consummate the proposed transaction and any necessary actions to obtain required regulatory approvals, and the diversion of management time on transaction-related issues. While these forward-looking statements, and any assumptions upon which they are based, reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Timmins Gold Corp.
Bruce Bragagnolo
CEO and Director
604-638-8980
bruce@timminsgold.com
www.timminsgold.com
Click here to see all recent news from this company
http://www.marketwire.com/press-release/Timmins-Gold-Receives-Conditional-Approval-for-TSX-Listing-TSX-VENTURE-TMM-1409966.htm
HATHOR Uranium(HAT on TSX-V)Extends Uranium Mineralization Eastward
www.marketwire.com/press-release/Hathor-Extends-Roughrider-Uranium-Mineralization-Eastward-TSX-VENTURE-HAT-1401123.htm
Hathor Exploration Limited
TSX VENTURE: HAT
Feb 24, 2011 08:02 ETHathor Extends Roughrider Uranium Mineralization Eastward
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce assay results from drill hole MWNE-11-667, the first complete set of drill hole assays received from the ongoing 2011 winter drill program at the Company's Roughrider project in the Athabasca Basin, Saskatchewan. Some 15,000 metres are planned for the three rig program, which will continue until the end of the winter season (Figure 1).
Drill hole MWNE-11-667 has intersected significant new uranium mineralization 40 m to the east of the East Zone, as it is currently defined by 2010 drilling. The East Zone now has uranium mineralization in drill holes across 200 m. This new intersection is the most easterly mineralization discovered to date in the overall "Roughrider System" (Figure 2), and mineralization remains open to the east.
The main intersection comprises two core intervals of 16.5 m and 18.0 m of 2.14% and 1.30% U3O8 respectively, separated by 3.0 m with an average grade of <0.01% U3O8, for a composite of 1.57% U3O8 over 37.5 m. Data are in Table 1 below. Important attributes include:
Visible pitchblende mineralization present over a vertical extent of 90 m (Photo 1 and 2).
Clay and hematite alteration is pervasive throughout the composite interval (Photo 3).
Mineralization is hosted entirely within basement rocks, well below unconformity regolith.
Deleterious elements such as arsenic and selenium are low. Associated metals such as Cu and Mo are also low.
This new mineralization is deeper than the mineralization intersected to date elsewhere within the Roughrider system. As shown in the 3-D model in Figure 3, the mineralization in MWNE-11-667 represents either: 1) The down dip extension of the East Zone of Roughrider; or 2) An entirely new zone of mineralization, separate from East Zone, with unique geometry and extent. The grade shell shown in Figure 3 for the East Zone was produced using Leapfrog 3D geological modelling software for preliminary mineralization wireframe models completed by Hathor, and is currently being evaluated for a preliminary NI 43-101 mineral resource estimate for East Zone.
This new mineralization is a significant development for Roughrider: it either extends the East Zone, or it adds a third zone to the system.Infill drilling continues along the entire length of the East Zone, between East Zone and West Zone ("the gap"), and northeast of West Zone, as shown in Figure 1. That said, drill holes planned for the 2011 winter season (Figure 1) have been reprioritized as a result of this drill hole. Detailed drilling will be done around hole 667 for the remainder of the drill season to establish the potential for this new mineralization, and to determine its relationship to East Zone.
Table 1: Summary assay data for the 81 metre composite intersection in drill hole MWNE-10-607*
DDH** From (m) To (m) Interval (m) U3O8 (%) As (ppm) Ni (%) Se (ppm) Mo (%) Co (%) Cu (%) V (%)
11-667 309.5 312.0 2.5 0.06 40.20 0.003 0.50 0.002 0.001 0.008 0.006
11-667 316.0 316.5 0.5 0.07 8.00 0.002 0.50 <0.001 <0.001 <0.001 0.019
11-667 327.5 365.0 37.5 1.57 60.32 0.005 18.81 0.023 0.001 0.014 0.076
comprising 327.5 344.0 16.5 2.14 58.21 0.006 25.02 0.037 0.001 0.007 0.110
comprising 344.0 347.0 3.0 <0.01 75.67 0.007 0.92 <0.001 0.001 0.001 0.008
comprising 347.0 365.0 18.0 1.30 59.69 0.004 16.10 0.014 0.002 0.022 0.055
Including 332.0 333.0 1.0 13.50 220.50 0.019 113.50 0.117 0.004 0.033 0.158
11-667 370.0 372.0 2.0 1.10 28.50 0.004 8.38 0.007 <0.001 0.008 0.035
11-667 375.0 379.5 4.5 0.23 7.39 0.002 1.56 0.004 <0.001 0.003 0.025
11-667 388.0 391.5 3.5 0.55 50.00 0.003 4.29 0.009 0.001 0.006 0.038
11-667 398.5 399.5 1.0 0.17 1466.50 0.080 14.50 0.235 0.091 0.010 0.132
* All intersections are down-hole intervals. Geometry of mineral zone is not yet determined.
** All drill holes have the prefix 'MWNE-'.
Samples were analyzed for U3O8 at the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC). The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. The samples were analyzed for a suite of other base metal elements including nickel, cobalt, copper and lead by ICP-ES. Dry bulk density determinations will have been carried out on the drill core.
Property Description
The Midwest Northeast Property is within the main uranium-producing eastern corridor of the Athabasca Basin. The Property comprises 3 claims covering 543 ha. Infrastructure is excellent. The Property is connected to Highway 955 by a 6 km winter road. The property is 8.5 km north of the community of Points North and the Points North commercial airport, the main service hub for northeastern Saskatchewan. It is within 25 km of operating uranium mine, mill and tailings facilities established at Rabbit Lake and McClean Lake during the past 35 years of production in the Athabasca.
Terra Ventures Inc. owns a qualified 10% interest in the largest claim on the Property, carried to the completion of a positive feasibility study and announcement of intent for commercial production.
Alistair McCready, Ph.D., P.Geo., Hathor's V.P. Exploration with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo., Hathor's Chief Executive Officer, are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the technical disclosure contained in this news release.
Dr. Michael H. Gunning, President & CEO
Hathor Exploration Limited
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Hathor Exploration Limited
Tony Nunziata
403-560-7040
or
Hathor Exploration Limited
Kelsea Murray
604-684-6707
www.hathor.ca
EAGLE Hill Exploration(EAG on TSX-V) 94.50g/t Gold over 6.25m!
Eagle Hill Exploration Corporation
TSX VENTURE: EAG
Feb 10, 2011 17:00 [color=red][/color]ETEagle Hill Intersects 6.25 Meters of 94.50 g/t Gold and Also Identifies Another New High Grade Gold Zone at the Windfall Lake Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2011) - Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE:EAG) is pleased to announce that it has received assay results from an additional five drill holes from the Company's current 10,000 meter drill program. Two of the holes were drilled prior to the winter break and, in addition to expanding existing gold zones, they have helped the Company identify a new high grade gold zone, named the Mallard Zone. The assay results from the remaining three holes expand Zone 27 and continue to prove out the continuity of the gold mineralization on the Windfall Lake Property (the Windfall Lake Property").
The drilling that started after the winter break is designed to explore the potential expansion of Zone 27. The Company identified an area that had not been drilled but could, in theory, double the size of this zone. We are pleased to report that the first three holes continue to produce very strong assay results that expand the continuous gold mineralization. The results of the 3 boreholes include 94.50 g/t Au over 6.25 meters in hole EAG-11-251, 9.00 g/t Au over 11.00 meters in hole EAG-11-250 and 2.07 g/t Au over 11.00 meters in drill hole EAG-11-249.
Assay results from the two holes drilled prior to the winter break include drill hole EAG-10-246 which expanded Zone 27 by 50 meters to the ENE at depth with an intercept of 10.86 g/t Au over 5.40 meters. Previous drilling on the same section, but 100 meters above this hole, intersected 5.05 g/t Au over 5.40 meters in hole NOT-06-101.
Drill hole EAG-10-248 now confirms continuity of the high grade Mallard Zone with 25.65 g/t Au over 2.00 meters. The Mallard zone is located 200 meters to the NW and runs parallel to Zone 27. Other historic drill holes in this newly recognized gold zone intersected 37.37 g/t Au over 1.0 meter in drill hole ATO-98-10r, 41.18 g/t Au over 1.95 meters in hole NOT-07-115, and 382.36 g/t Au over 0.68 meters in drill hole ATO-98-05. The strike length of the Mallard Zone is over 275 meters and remains completely open in both directions.
"The Exploration Team has clearly demonstrated that they are on the right track in the modeling of gold mineralization on the Windfall Lake Property. Every drill hole in the Company's current 10,000 meter drill program has returned very strong gold assays in previously unexplored areas," explained Brad Kitchen, President and Chief Executive Officer of Eagle Hill. "With the current results and new assays from the remaining 6,900 meters of drilling, the Company will be better able to determine the extent of the gold mineralization at the Windfall Lake Property."
A map of the Windfall Lake Property outlining the location of the gold zones, drill holes and areas of potential expansion has been posted on Eagle Hill's website at www.eaglehillexploration.com.
The following table shows the most material assay results from the five drill holes. A complete table of results will be shown in the near future on Eagle Hill's website.
From To Length Au
Hole Number (m) (m) (m) (g/t) Comments
EAG-10-246 433.00 438.40 5.4 10.86 Zone 27
EAG-10-247 224.00 229.00 Assays pending Caribou Zone
EAG-10-248 141.00 143.00 2.00 25.65 Mallard Zone – New
EAG-11-249 213.00 224.00 11.00 2.07 Zone 27
EAG-11-250 128.00 140.80 12.80 1.19 Zone 27
150.00 154.00 4.00 3.38 NW splay of Zone 27
45.00 46.00 1.00 7.75 Fault zone cutting Caribou Zone
226.00 237.00 11.00 9.00 Between Caribou and Zone 27
incl 236.00 237.00 1.00 71.90
EAG-11-251 332.55 338.80 6.25 94.50 SE Splay of Zone 27
incl 332.55 334.00 1.45 393.00
375.00 382.70 7.70 7.70 Zone 27
incl 380.00 381.20 1.20 32.70
407.00 410.00 3.00 4.10 NW splay of Zone 27
The true widths are approximately 70% of reported width.
Gold analyses reported in this release were performed by standard fire assay using a 30 gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per ton. Assays returning results over 1 ounce per ton of gold by atomic absorption are re-assayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.
Jean-Philippe Desrochers, Ph.D., P.Geo. is a Qualified Person registered in Quebec as defined by NI-43-101 and has reviewed the technical information that this press release contains.
About the Windfall Lake Property
The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive historic grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property. Eagle Hill has signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake Property.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metal prospects. The Company is set to become an advanced stage gold and precious metal exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-D'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although both companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Eagle Hill Exploration Corporation (Vancouver)
Brad Kitchen
604.638.8072
info@eaglehillexploration.com
www.eaglehillexploration.com
or
Investor Cubed Inc. (Toronto)
Neil Simon
647.258.3311 or Toll Free: 1.888.258.3323
nsimon@investor3.ca
www.investor3.ca
or
MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca
Click here to see all recent news from this company
EAGLE Hill Exploration(EAG on TSX-V): 94.50g/t GOLD over 6.25m
www.marketwire.com/press-release/Eagle-Hill-Intersects-625-Meters-9450-g-t-Gold-Also-Identifies-Another-New-High-Grade-TSX-VENTURE-EAG-1394151.htm
Eagle Hill Exploration Corporation
TSX VENTURE: EAG
Feb 10, 2011 17:00 ETEagle Hill Intersects 6.25 Meters of 94.50 g/t Gold and Also Identifies Another New High Grade Gold Zone at the Windfall Lake Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2011) - Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE:EAG) is pleased to announce that it has received assay results from an additional five drill holes from the Company's current 10,000 meter drill program. Two of the holes were drilled prior to the winter break and, in addition to expanding existing gold zones, they have helped the Company identify a new high grade gold zone, named the Mallard Zone. The assay results from the remaining three holes expand Zone 27 and continue to prove out the continuity of the gold mineralization on the Windfall Lake Property (the Windfall Lake Property").
The drilling that started after the winter break is designed to explore the potential expansion of Zone 27. The Company identified an area that had not been drilled but could, in theory, double the size of this zone. We are pleased to report that the first three holes continue to produce very strong assay results that expand the continuous gold mineralization. The results of the 3 boreholes include 94.50 g/t Au over 6.25 meters in hole EAG-11-251, 9.00 g/t Au over 11.00 meters in hole EAG-11-250 and 2.07 g/t Au over 11.00 meters in drill hole EAG-11-249.
Assay results from the two holes drilled prior to the winter break include drill hole EAG-10-246 which expanded Zone 27 by 50 meters to the ENE at depth with an intercept of 10.86 g/t Au over 5.40 meters. Previous drilling on the same section, but 100 meters above this hole, intersected 5.05 g/t Au over 5.40 meters in hole NOT-06-101.
Drill hole EAG-10-248 now confirms continuity of the high grade Mallard Zone with 25.65 g/t Au over 2.00 meters. The Mallard zone is located 200 meters to the NW and runs parallel to Zone 27. Other historic drill holes in this newly recognized gold zone intersected 37.37 g/t Au over 1.0 meter in drill hole ATO-98-10r, 41.18 g/t Au over 1.95 meters in hole NOT-07-115, and 382.36 g/t Au over 0.68 meters in drill hole ATO-98-05. The strike length of the Mallard Zone is over 275 meters and remains completely open in both directions.
"The Exploration Team has clearly demonstrated that they are on the right track in the modeling of gold mineralization on the Windfall Lake Property. Every drill hole in the Company's current 10,000 meter drill program has returned very strong gold assays in previously unexplored areas," explained Brad Kitchen, President and Chief Executive Officer of Eagle Hill. "With the current results and new assays from the remaining 6,900 meters of drilling, the Company will be better able to determine the extent of the gold mineralization at the Windfall Lake Property."
A map of the Windfall Lake Property outlining the location of the gold zones, drill holes and areas of potential expansion has been posted on Eagle Hill's website at www.eaglehillexploration.com.
The following table shows the most material assay results from the five drill holes. A complete table of results will be shown in the near future on Eagle Hill's website.
From To Length Au
Hole Number (m) (m) (m) (g/t) Comments
EAG-10-246 433.00 438.40 5.4 10.86 Zone 27
EAG-10-247 224.00 229.00 Assays pending Caribou Zone
EAG-10-248 141.00 143.00 2.00 25.65 Mallard Zone – New
EAG-11-249 213.00 224.00 11.00 2.07 Zone 27
EAG-11-250 128.00 140.80 12.80 1.19 Zone 27
150.00 154.00 4.00 3.38 NW splay of Zone 27
45.00 46.00 1.00 7.75 Fault zone cutting Caribou Zone
226.00 237.00 11.00 9.00 Between Caribou and Zone 27
incl 236.00 237.00 1.00 71.90
EAG-11-251 332.55 338.80 6.25 94.50 SE Splay of Zone 27
incl 332.55 334.00 1.45 393.00
375.00 382.70 7.70 7.70 Zone 27
incl 380.00 381.20 1.20 32.70
407.00 410.00 3.00 4.10 NW splay of Zone 27
The true widths are approximately 70% of reported width.
Gold analyses reported in this release were performed by standard fire assay using a 30 gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per ton. Assays returning results over 1 ounce per ton of gold by atomic absorption are re-assayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.
Jean-Philippe Desrochers, Ph.D., P.Geo. is a Qualified Person registered in Quebec as defined by NI-43-101 and has reviewed the technical information that this press release contains.
About the Windfall Lake Property
The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive historic grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property. Eagle Hill has signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake Property.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metal prospects. The Company is set to become an advanced stage gold and precious metal exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-D'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although both companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Eagle Hill Exploration Corporation (Vancouver)
Brad Kitchen
604.638.8072
info@eaglehillexploration.com
www.eaglehillexploration.com
or
Investor Cubed Inc. (Toronto)
Neil Simon
647.258.3311 or Toll Free: 1.888.258.3323
nsimon@investor3.ca
www.investor3.ca
or
MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca
Click here to see all recent news from this company
ANDOVER Ventures(AOX on TSX-V)AUDIO Interview(2/7/11):
www.futuremoneytrends.com/AOX_interview.html
FutureMoneyTrends.com is pleased to announce Andover Ventures (TSX-V: AOX & OTC: AOVTF) as our top mining play for 2011. Currently trading for 65 cents, we believe AOVTF will be one of our most successful stock suggestions this year. AOVTF is a precious metals exploration and development company with high-grade, world class projects located in the Polymetalic rich Ambler Mining District of Alaska and the Tintic Mining District of Utah. AOVTF has our highest level of confidence and we have spent the last few months following them. We even had the opportunity to personally meet with Gordon Blankstein, the Chairman and CEO, while doing our due diligence on AOVTF
DETOUR GOLD (DGC) VideoClip on BNN 2/1/11
Commodities : February 1, 2011 : Detour Update [02-01-11 11:40 AM]
BNN speaks to Detour Gold CEO Gerald Panneton about the growing Detour Lake gold project 180 km northeast of Cochrane, Ont.
watch.bnn.ca/#clip410732
Detour Gold Corporation(DGC) Increases GOLD RESERVES to 14.9 million ounces!
TSX: DGC
Jan 31, 2011 18:30 ETDetour Gold Updates Reserves to 14.9 Million Ounces at Detour Lake
TORONTO, ONTARIO--(Marketwire - Jan. 31, 2011) - Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") is pleased to report an updated reserve and resource estimate for its 100% owned Detour Lake gold project in northeastern Ontario. This update uses the same assumptions and parameters as the mineral resources and reserves reported in the June 2010 feasibility study.
Highlights (base case using US$850/oz gold)
A 31% increase in proven and probable open pit reserves from 11.4 to 14.9 million ounces A 16% increase in global measured and indicated mineral resources to 20.5 million ounces (inclusive of mineral reserves), and an additional 5.1 million ounces in the inferred category Life of mine (LOM) increased to 21 years from 16 years at mill throughput ranging from 55,000 to 61,000tpd
Initiating economic studies to evaluate an increase in process plant throughput
"This significant reserve increase and the high potential of finding more ounces from additional drilling support our organic growth strategy. The positive impact of the 2010 drilling campaign extended the Detour Lake open pit further to the west. With 14.9 million ounces, the Detour Lake deposit remains Canada's largest pure gold play and ranks fourth among the top ten largest gold reserves in North America. The next step is to proceed with further economic studies to maximize the economics of the project, including a potential expansion of the processing plant if gold price exceeds US$1,000/oz at the start of operations," said Gerald Panneton, President and Chief Executive Officer.
"Detour Gold has started infrastructure construction activities at site and will be in a position to pour concrete for the processing plant by April 2011. During the construction period (2011-12), there will be up to 1,000 people working at site. The Detour Lake mine will make a significant contribution to the economy of northern Ontario, and with gold production expected to commence in early 2013, Detour Lake will be among the largest gold operations in North America."
Detour Lake Mineral Resources
The database for this update incorporated new drilling data from the 2010 drilling campaign (98,934 metres of 107,000 metres) and all the drilling data from the feasibility study for a total of 985,848 metres of drilling in 6,047 holes, of which 435,563 metres is from Detour Gold's drilling campaigns.
The Ordinary Kriging (OK) block model used for the global mineral resources covers the area between sections 17,000E and 20,600E, extending an additional 500 metres to the west from the feasibility study block model. The following improvements were made to the Detour Lake block model: (1) addition of one mineralized domain, (2) barren dykes modeled (forming three new domains), (3) vertical extension of block size dimension increased from 10 to 12 metres (i.e. 10 (E-W) x 5 (N-S) x 12 (vertical) metres, (4) search radius ellipse size reduced by 5 metres in the vertical direction (i.e. from 50x30x10 metres to 50x25x10 metres), and (5) maximum search radius reduced along strike for the inferred category from 200 to 150 metres (i.e. 150x150x60 metres). The table below summarizes the global mineral resources at various cut-off grades.
Detour Lake Global Mineral Resource Estimate(1)
Resource
Category Cut-off Grade
(g/t) Tonnes
(millions) Grade Capped(2)
(g/t Au) Gold Ounces
(000's)
Measured (M) 0.3 152.3 1.18 5,784
0.4 137.4 1.27 5,617
0.5 123.6 1.36 5,417
Indicated (I) 0.3 741.3 0.78 18,497
0.4 588.0 0.89 16,786
0.5 470.6 1.00 15,098
Total (M&I) 0.3 893.6 0.85 24,282
0.4 725.4 0.96 22,403
0.5 594.2 1.07 20,515
Inferred 0.3 375.7 0.62 7,444
0.4 264.9 0.73 6,214
0.5 190.3 0.84 5,144
(1) Mineral reserves are included within the mineral resources reported.
(2) Capping grade estimated by domains and varies from 15 g/t to 50 g/t.
MineSight software was used to generate an optimum pit shell using the Lerchs-Grossman (LG) pit optimizer algorithm based on the measured and indicated resources only, using the same economic parameters established by the June 2010 feasibility study. The table below shows the in-pit mineral resources at various cut-off grades.
Detour Lake In-pit Mineral Resource Estimate(1)
Resource
Category Cut-off Grade
(g/t) Tonnes
(millions) Grade Capped(2)
(g/t Au) Gold Ounces
(000's)
Measured (M) 0.3 135.2 1.18 5,134
0.4 123.1 1.26 4,997
0.5 111.2 1.35 4,825
Indicated (I) 0.3 583.1 0.76 14,329
0.4 462.0 0.87 12,977
0.5 367.9 0.98 11,624
Total (M&I) 0.3 718.3 0.84 19,463
0.4 585.1 0.96 17,973
0.5 479.1 1.07 16,449
Inferred 0.3 36.7 0.56 658
0.4 21.5 0.71 489
0.5 14.2 0.84 386
(1) Mineral reserves are included within the mineral resources reported.
(2) Capping grade estimated by domains and varies from 15 g/t to 50 g/t.
Detour Lake Mineral Reserves
The open pit mineral reserves were estimated within a detailed engineered pit design by using the measured and indicated resources at a cut-off grade of 0.5 g/t. In the pit design, inter-ramp pit slopes vary from 49 to 56 degrees depending on rock type and structure orientation. The block model was prepared in MineSight with the kriged block grades that include an estimated dilution of 11.7%. The estimated proven and probable reserves total 14.9 million ounces, after using a 95% mining recovery rate and an additional mining dilution of 3.8%. The stripping ratio (waste to ore) has increased to 3.9 from 3.3 as a result of a greater quantity of waste (including inferred resources) contained within the new pit design due to insufficient drilling at the west end of the pit. In all drilling programs to date, the Company has had a very high success rate in converting inferred resources to the measured and indicated categories (and reducing strip ratio). It is anticipated that the 2011 drilling program will be as successful in proving the continuity of the gold mineralization, resulting in a conversion to mineral reserves and a lower strip ratio.
A summary table of the changes from the feasibility study is shown below.
Summary of Changes in Mineral Reserves from June 2010 (FS) to January 2011
Feasibility Study New Update % Change [color=red][/color] Total P&P gold reserves (M oz) 11.4 14.9 +31%
Tonnage (Mt) 347.5 451.4 +30%
Grade (g/t) 1.02 1.03 +1%
Strip ratio 3.3 3.9 +18%
Mine life 16 21 +31%
Estimated gold recovery (%) 91.2 91.0 -
Gold price (US$/oz) 850 850 -
Exchange rate 1.10 1.10 -
Detour Lake Mineral Reserves at $850/oz (cut-off grade of 0.5 g/t)
Reserve
Category Tonnes
(millions) Grade
(g/t Au) Gold Ounces
(000's)
Proven 93,715 1.29 3,886
Probable 355,838 0.96 10,974
Total (P&P) 449,553 1.03 14,860
The Company's strategy remains, as per the feasibility study, to develop the mining schedule using an elevated cut-off grade through the early years for a higher head grade to be processed at the plant facility.
Capital Costs Status
Pre-production capital costs remain in line with the feasibility study. The Company has entered into commitments for approximately C$540 million for the project and has spent approximately C$80 million as of December 31, 2010. The current cash position of the Company is approximately C$970 million, which is sufficient to advance the development of the project through mid-2012. Construction progress remains on schedule and on budget at this time.
Economic Studies to Start
With a solid reserve base of nearly 15 million ounces, Detour Gold is moving ahead with initiating further economic studies to assess the potential for increasing the annual production profile once the project has reached production in early 2013. The main opportunities to be potentially realized are:
An increase in mill capacity (processing plant expansion) – initiating a tonnage rationalization study to evaluate throughput options between 75,000 and 100,000 tpd (note that the purchased gyratory crusher is already designed for higher capacity);
At US$1,000/oz or above and once the plant expansion is completed, the Company could mine economically at a lower gold cut-off grade and generate higher mineral reserves;
Engineering work optimization (i.e. pit slope improvements, potential in-pit dumping of additional waste and tailings);
Additional drilling to convert inferred resources into measured and indicated resources in the current pit to reduce strip ratio; and
Continue drilling campaign to test the western extension of the deposit (i.e. 50,000 metres planned in 2011). For a potential expansion to proceed, the Company may be required to obtain additional authorizations or permits beyond those currently received or being sought to accommodate for a larger open pit operation.
Qualified Persons
The mineral resources for Detour Lake have been estimated by Michel Dagbert, Eng., Senior Geostatistician and André Laferrière, P. Geo., Senior Geologist of SGS Canada Inc. The mineral reserves for Detour Lake have been estimated by Patrice Live, Eng., Mining Manager of BBA Inc. All are independent Qualified Person (QP) under National Instrument 43-101 and have reviewed and approved the content of this news release.
A NI 43-101 compliant Technical Report will be filed on the Company's website and on SEDAR within 45 days.
Conference Call
Detour Gold will hold a conference call on Tuesday, February 1, 2011 at 10:00 AM EST [color=red][/color]where senior management will discuss the mineral resource and reserve update and respond to questions from analysts and investors. To join the call:
In Canada and the United States dial toll free 1-877-240-9772
International 416-340-2216
To listen to the audio webcast live online, go to: www.detourgold.com (home page) and click on "Conference Call Audio Webcast February 1, 2011" under "Events" or go directly to www.gowebcasting.com/2195.
The conference call will be recorded and playback of the call will be available after the event by dialing toll free in Canada and the United States 1-800-408-3053, or internationally 416-695-5800, pass code 6848711 (available up to March 1, 2011). To listen to the recorded webcast online, please go to www.detourgold.com, in the "Investor Info" section under "Past Events".
Forward-Looking Information
This press release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this press release contains forward-looking statements regarding results and projections based on the assumptions and parameters contained in the June 2010 feasibility study of the Detour Lake gold project, including the reserve and resource estimates, ore grade, the expected mine life, anticipated gold production, gold recovery, the commencement of construction, cash operating costs and other costs, the projected internal rate of return, capital costs, sensitivity to metal prices and other sensitivities, the projected payback period, the availability of capital for development, the financial analysis and expected drilling activities. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Detour Gold's ability to predict or control and may cause Detour Gold's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled "Description of Business - Risk Factors" in Detour Gold's 2009 annual information form. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about the following: the availability of financing for exploration and development activities; the estimated timeline for the development of the Detour Lake gold project; the supply and demand for, and the level and volatility of the price of, gold; the accuracy of reserve and resource estimates and the assumptions on which the reserve and resource estimates are based; the receipt of necessary permits; market competition; ongoing relations with employees and impacted communities; and general business and economic conditions. In addition, the June 2010 feasibility study uses an estimate of gold price based on an approximate three-year average. The operating and capital costs in the feasibility study were developed to be reasonable estimates within industry benchmarks. There is no certainty that the results of the feasibility study will ever be realized. Should one or more of the risks or uncertainties involved in forward-looking statements relating to the feasibility study materialize, or should the assumptions underlying the feasibility study prove incorrect, actual results of the feasibility study may vary materially from those anticipated, believed, estimated or expected. Accordingly, readers should not place undue reliance on forward-looking statements. Detour Gold undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.
Information Concerning Estimates of Mineral Reserves and Resources
The mineral reserve and resource estimates reported in this press release were prepared in accordance with Canadian National Instrument 43-101Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission ("SEC") applies different standards in order to classify mineralization as a reserve. In particular, while the terms "measured," "indicated" and "inferred" mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.
For more information, please contact
Detour Gold Corporation
Gerald Panneton
President and CEO
(416) 304.0800
or
Detour Gold Corporation
Laurie Gaborit
Director Investor Relations
(416) 304.0581
or
Detour Gold Corporation
Royal Bank Plaza
South Tower, 200 Bay Street,
Suite 2200, Toronto, Ontario M5J 2J1
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AMERICAN BONANZA GOLD (BZA on TSX-V, ABGFF)Videoclip CEO Profiles
www.ceoclips.com/companyclip.aspx?id=121&cliptype=company
Name: Brian Kirwin
Position: Director, President
Company: American Bonanza Gold Corp.
Sector: Mining / Exploration
Website: www.americanbonanza.com/
Stock: BZA.V
American Bonanza Gold Corp. (TSX: BZA) is a dynamic gold company engaged in the acquisition, exploration and development of high-grade gold properties located in the United States and Canada.
AVANTI MINING(AVT on TSX-V)strategic alliance
SOURCE: Avanti Mining Inc.
Jan 27, 2011 08:30 ETAvanti Mining Announces Letter of Intent With SeAH Holdings Corp. for Joint Redevelopment of the Kitsault Mine
VANCOUVER, BC--(Marketwire - January 27, 2011) - Avanti Mining Inc. (TSX-V: AVT) ("Avanti" or the "Company") is pleased to announce that it has entered into a letter of intent ("LOI") with respect to a potential acquisition by SeAH Holdings Corp. ("SeAH") of up to a 30% interest in the Kitsault Project. The amount of investment needed to earn the interest will be negotiated between the parties based upon the valuation reflected in Kitsault feasibility study announced on December 16th, 2010. The transaction is subject to any required regulatory approval, third party consents, customary due diligence and a definitive participation agreement. There is no certainty that a binding agreement will be entered into with SeAH.
"A strategic alliance with SeAH is an important milestone in the redevelopment of the Kitsault mine," said A.J. Ali, Chief Financial Officer. "Avanti will use the proceeds of the acquisition transaction as part of the equity component of the financing of the mine redevelopment and SeAH will also assist us in procuring the debt financing from Korean sources."
About SeAH Holdings Corp. -- SeAH is a public company listed on the Korean stock exchange. SeAH is the holding company of SeAH Group, established in 2001 by separating the SeAH Steel's investment sector and is based in Seoul, South Korea. SeAH has 18 domestic and 13 overseas subsidiaries/operations with business areas in special steel producing, pipe manufacturing, IT and energy. SeAH Besteel Corp., the largest subsidiary of SeAH, is known as the #1 special steel maker in Korea and the company mainly produces automotive parts and shipbuilding parts for globally renowned automakers and shipbuilders. SeAH and SeAH Besteel are currently listed in Korean stock exchange. CPM Group of New York is acting as financial advisor to SeAH in these transactions.
Avanti Mining Inc. is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains certain forward-looking information concerning the business of Avanti Mining Inc. (the "Corporation"). All statements, other than statements of historical fact, included herein including, without limitation; statements about the entering into of the LOI, the use of proceeds from the strategic alliance and matters related to the development of the Kitsault molybdenum mine, are forward-looking statements. These forward-looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in the Corporation's Annual Information Form for the year ended December 31, 2009, which is available at www.sedar.com. The Corporation is under no obligation to update forward-looking statements if circumstances or management's opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information, please visit www.avantimining.com, or contact:
Craig J. Nelsen
Chief Executive Officer
303-565-5491, extension 4471
A.J. Ali
Chief Financial Officer
303-565-5491, extension 4472
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DONNER METALS (DON on TSX-V, DONFF on OTC)CEO VIDEO Interview 1/26/2011
http://www.smallcapepicenter.com/beyondthepressrelease/DON26January2011/
Website: www.donnermetals.com/default.asp
ANDOVER VENTURES(AOX on TSX-V,AOVTF on OTC)YouTube CEO VIDEO
ANDOVER VENTURES(AOX on TSX-V,AOVTF on OTC)Trixie Mine, Utah
Andover Ventures Inc.
TSX VENTURE: AOX
OTC Bulletin Board: AOVTF
FRANKFURT: R2X
Jan 26, 2011 09:01 ETAndover Receives Production Report for Trixie Mine, Utah
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2011) - Andover Ventures Inc. (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) ("Andover" or the "Company") COO, Mr. Larry Segerstrom, wishes to announce that the Company has received a final report completed by Mr. Alastair H. Summers, B.A. Sc., P. Eng., P. Geol, on the Trixie Gold Mine Complex, owned by Chief Consolidated Mining Co. ("Chief") in the East Tintic District of Utah (Chief is 78.1% controlled by Andover). The report recommends restarting production of the Trixie Mine.
The study focused on rehabilitating the Trixie Mine and utilizing the associated Burgin Mill for production in 2011.
The Company is currently working to hire mine and mill managers to expeditiously move the Trixie back into production this year. Initial production is contemplated from material stockpiled on surface while the Company simultaneously rehabilitates the Trixie Mine for future underground production.
About Andover:
Andover Ventures is a precious and base metal exploration and development company, headquartered in Vancouver, British Columbia, Canada. Andover Ventures holdings are located in the historic East Tintic Mining District, Utah, USA, and the polymetallic rich Ambler Mining District, located in Alaska, USA.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Andover Ventures Inc.
Richard Martens
Investor Relations
1-604-682-2168 or Int'l Toll Free: 1-800-266-4484
www.andoverventures.comClick here to see all recent news from this company
Kootenay GOLD(KTN on TSX-V):Mexico’s Newest Emerging Silver Resource
Mexico’s Newest Emerging Silver Resource
By Ahead of The Herd
Published:Yesterdayby GoldSpeculator
--------------------------------------------------------------------------------
Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
If you believe in the adage ‘mines are made, not discovered’ then the time has come to turn your attention to Kootenay Gold Inc. TSX.V – KTN.
Drawing from the experience of its management team, led by Company CEOand Chief Geologist James McDonald, Kootenay is applying the same pragmatic approach to its flagship Promontorio Silver Project in Sonora Mexico, that has helped companies McDonald has been associated with ,such as Alamos Gold Inc., turn into accomplished producers.
Since first acquiring the historic past producerin 2005, Kootenay has taken no shortcuts in its quest to systematically exploit the vast silver resources believed to exist within Promontorio’s 79,000 hectare borders. Based on its success to date and the projects maturing status, the Company’s comprehensive approach appears to be paying off.
To summarize, detailed work conducted to date on Promontorio has included extensive ground exploration, till sampling, airborne geophysical, 3-D IP Survey, 3-D modeling along with 3-D geophysics and over 28,000 meters of drilling.
Characterized by excellent grades and widespread silver mineralization, the highly focused, multi-phase strategy has been met with success a tvirtually every turn. Highlights from 49 drill holes in Promontorio’s Pit Discovery included 18.4 meters grading 950 g/t and 151 metersgrading 162 g/t silver-equivalent.
Not surprisingly, Promontorio’s growing silver resource and its potential to develop into a substantial mining entity has not been lost on the investment community. A recently completed $6 million non-brokered financing, led by Sprott Asset Management and a consortium of institutional investors, has boosted the Company’s cash reserves to a healthy $11 million and paved the way to further fast track development on the project over the coming months.
Going forward, the current multi-phase drilling program now underway on Promontorio is expected to play a vital role in establishing grades and continuity and the overall size and tonnage of the silver resource.
A 43-101 Resource Estimate released late last year shows the property contains indicated and inferred resources of over 10 million ounces of silver along with substantial amounts of lead and zinc. The overall contained metal values at Promontorio are now estimated at over $320 million. These are exciting developments considering many pundits believe the resource doesn’t have to get substantially larger before it starts looking like a mine.
Clearly, Kootenay has carried the momentum intoits current 10,000 meter drill program now underway on Promontorio. Results from the first four drill holes have already extended silver mineralization 100 meters outside the current 43-101 Pit Discovery Zone with mineralization remaining open to the West, North, East and to depth.
Based on results to date, combined with management’s acute understanding of the Project’s geological control within large areas of widespread silver mineralization, Kootenay CEO James McDonald remains confident Promontorio contains a silver resource commensurate with other notable producers within Mexico’s Sierra Madre region.
“We have said all along the proof willbe in the drill bit, and thus far it has yet to let us down. Based on supporting scientific data and the advancements we are seeing now, we have every reason to believe we have a viable shot to double or triple our current resource, or more, through the current program.” James McDonald, Kootenay Gold CEO
Granted results are going to be the determining factor, but there is no doubt the Company has good reason for its optimism. Doubling or tripling its current silver resource a tPromontorio could drive the total contained metal values on the projectto over $1 billion. In short, if objectives are met, Promontorio could well be a ‘Company Maker’.
At present, Kootenay is looking forward to receiving results from a series of recently completed drill holes that have been sent in for assaying from the current 10,000 meter program. To further accelerate its aggressive development on Promontorio, the Company says it expects to add a second drill rig to the program in the near future.
It should be very interesting to follow Kootenay’s developments on Promontorio over the coming weeks and months.
Is Kootenay Gold and its Promontorio Silver Project on your radar screen?
If not, maybe it should be.
Richard (Rick) Mills
rick@aheadoftheherd.com
www.aheadoftheherd.com
Source: www.gold-speculator.com/ahead-herd/46936-mexico-s-newest-emerging-silver-resource.html
Kootenay GOLD(KTN on TSX-V):Mexico’s Newest Emerging Silver Resource
Mexico’s Newest Emerging Silver Resource
By Ahead of The Herd
Published:Yesterdayby GoldSpeculator
--------------------------------------------------------------------------------
Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
If you believe in the adage ‘mines are made, not discovered’ then the time has come to turn your attention to Kootenay Gold Inc. TSX.V – KTN.
Drawing from the experience of its management team, led by Company CEOand Chief Geologist James McDonald, Kootenay is applying the same pragmatic approach to its flagship Promontorio Silver Project in Sonora Mexico, that has helped companies McDonald has been associated with ,such as Alamos Gold Inc., turn into accomplished producers.
Since first acquiring the historic past producerin 2005, Kootenay has taken no shortcuts in its quest to systematically exploit the vast silver resources believed to exist within Promontorio’s 79,000 hectare borders. Based on its success to date and the projects maturing status, the Company’s comprehensive approach appears to be paying off.
To summarize, detailed work conducted to date on Promontorio has included extensive ground exploration, till sampling, airborne geophysical, 3-D IP Survey, 3-D modeling along with 3-D geophysics and over 28,000 meters of drilling.
Characterized by excellent grades and widespread silver mineralization, the highly focused, multi-phase strategy has been met with success a tvirtually every turn. Highlights from 49 drill holes in Promontorio’s Pit Discovery included 18.4 meters grading 950 g/t and 151 metersgrading 162 g/t silver-equivalent.
Not surprisingly, Promontorio’s growing silver resource and its potential to develop into a substantial mining entity has not been lost on the investment community. A recently completed $6 million non-brokered financing, led by Sprott Asset Management and a consortium of institutional investors, has boosted the Company’s cash reserves to a healthy $11 million and paved the way to further fast track development on the project over the coming months.
Going forward, the current multi-phase drilling program now underway on Promontorio is expected to play a vital role in establishing grades and continuity and the overall size and tonnage of the silver resource.
A 43-101 Resource Estimate released late last year shows the property contains indicated and inferred resources of over 10 million ounces of silver along with substantial amounts of lead and zinc. The overall contained metal values at Promontorio are now estimated at over $320 million. These are exciting developments considering many pundits believe the resource doesn’t have to get substantially larger before it starts looking like a mine.
Clearly, Kootenay has carried the momentum intoits current 10,000 meter drill program now underway on Promontorio. Results from the first four drill holes have already extended silver mineralization 100 meters outside the current 43-101 Pit Discovery Zone with mineralization remaining open to the West, North, East and to depth.
Based on results to date, combined with management’s acute understanding of the Project’s geological control within large areas of widespread silver mineralization, Kootenay CEO James McDonald remains confident Promontorio contains a silver resource commensurate with other notable producers within Mexico’s Sierra Madre region.
“We have said all along the proof willbe in the drill bit, and thus far it has yet to let us down. Based on supporting scientific data and the advancements we are seeing now, we have every reason to believe we have a viable shot to double or triple our current resource, or more, through the current program.” James McDonald, Kootenay Gold CEO
Granted results are going to be the determining factor, but there is no doubt the Company has good reason for its optimism. Doubling or tripling its current silver resource a tPromontorio could drive the total contained metal values on the projectto over $1 billion. In short, if objectives are met, Promontorio could well be a ‘Company Maker’.
At present, Kootenay is looking forward to receiving results from a series of recently completed drill holes that have been sent in for assaying from the current 10,000 meter program. To further accelerate its aggressive development on Promontorio, the Company says it expects to add a second drill rig to the program in the near future.
It should be very interesting to follow Kootenay’s developments on Promontorio over the coming weeks and months.
Is Kootenay Gold and its Promontorio Silver Project on your radar screen?
If not, maybe it should be.
Richard (Rick) Mills
rick@aheadoftheherd.com
www.aheadoftheherd.com
Source: www.gold-speculator.com/ahead-herd/46936-mexico-s-newest-emerging-silver-resource.html
Bravo Gold(BVG on TSX-V)29.6 Metres of 2.7g/t Gold at Homestake Ridge
http://www.marketwire.com/press-release/Bravo-Drills-296-Metres-of-27g-t-Gold-at-Homestake-Ridge-TSX-VENTURE-BVG-1383954.htm
Bravo Gold Corp.
TSX VENTURE: BVG
FRANKFURT: B6I
Jan 21, 2011 15:26 ETBravo Drills 29.6 Metres of 2.7g/t Gold at Homestake Ridge
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2011) - Bravo Gold Corp. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that final 2010 drilling results have been received from its 100 per cent owned Homestake Ridge Project, located in northwestern British Columbia.
Homestake Silver Deposit
Highlights from these remaining core drill holes at the Homestake Silver deposit include (all values are reported as estimated true thickness):
-- a 29.6 metre interval averaging 2.7g/t gold and 5.6g/t silver, which includes a 3.6 metre interval averaging 5.3g/t gold and 25.5g/t silver in hole HR10-214 -- and a 33.7 metre interval averaging 1.2g/t gold and 45.7g/t silver, which includes a 2.6 metre interval averaging 5.0g/t gold and 198.3g/t silver in hole HR10-213
Holes HR10-213 and -214 were drilled up-dip and down-dip respectively of previously reported mineralization in HR10-199 (45.5 metres grading 2.1g/t gold and 16.5g/t silver) and HR09-165 (24 metres grading 12.1g/t gold) and similarly define broad intervals of strongly anomalous gold mineralization.
Fox Reef Zone
The company also reported that drilling at the Fox Reef zone continues to return silver-enriched lead-zinc mineralization including 0.6 metres averaging 0.3g/t gold, 10g/t silver and 0.7% lead and 3.6% zinc from drill hole HR10-202. Several other holes that tested the Fox Reef zone contain anomalous mineralization averaging +0.1g/t gold over +100 metre intervals with locally narrower intervals of more strongly enriched precious metals.
2010 Exploration Summary
The company reports that the 2010 exploration program was successful in:
-- significantly expanding the overall "footprint" of the Homestake Silver deposit which now measures 620 metres strike and 480 metres down-dip. The deposit can be traced northwest to within 200 metres of the southeast extent of the Main Homestake deposit. The Homestake Silver deposit remains open down-dip and on strike to the northwest. -- providing better internal definition of the deposit geometry. Preliminary modeling the deposit (at a 2g/t cut-off), now including the 2010 data, has defined a minimum of 12 sub-vertical, en-echelon lenses and splays. -- providing better definition of the distribution of gold and silver within the Homestake Silver deposit and the identification of a new higher-grade lens of mineralization on the northwestern margin of the deposit and centered around drill hole HR10-198 (9.6 metres grading 5.9g/t gold and 6.0g/t silver).-- identifying additional exploration potential down-dip of silver-enriched veins to the northeast, in the hangingwall of the Homestake Silver deposit. Several of these veins, intersected in drill holes, contain up to 40g/t silver and strongly anomalous pathfinders elements (arsenic- antimony) and lie too far to the east of the known deposit, suggesting the veins may grade downward into another deposit. Similar metal values were identified in the early stages of exploration above the Homestake Silver deposit. -- showing continued exploration potential in a parallel structure at the Fox Reef zone, located 600m to the southwest of the Homestake Silver deposit, in the North Dome area, in the area immediately northeast of the Homestake Silver deposit and several other targets identified through surface exploration following of the 2009 airborne geophysical anomalies.
Results have now been reported from all 2010 drill holes on the Homestake Ridge Project, although minor in-fill sampling continues on weakly altered portions of some holes. Data from these holes has been incorporated into the geological model and an updated resource estimate is underway, optimizing for higher grade values. The work, undertaken by Scott Wilson, Roscoe, Postle Associates Inc., will focus primarily on results from the Homestake Silver deposit.
An updated long section of the 2010 drill plan and a full compilation of the 2010 assay summaries are available on Bravo's website at bravogoldcorp.com.
To view Figure 1, click on the following link: http://media3.marketwire.com/docs/0121BVGfig1.jpg
Table 1: Select Assays from 2010 Drilling at the Homestake Silver Deposit
Homestake Silver Deposit:--------------------------------------------------------------------------- Est. Collar Data Inter- Tr. Az Dip Depth From To val Thck Au Ag Hole # Deg Deg (m) (m) (m) (m) (m) (g/t) (g/t) Comments---------------------------------------------------------------------------HR10- 240.0 -55.0 431.9 227.6 229.3 1.7 1.1 0.3 341.0 205 ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 223.0 -45.0 352.7 NSV NSV 207 ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 237.0 -64.0 453.2 287.8 298.3 10.5 5.9 1.7 2.9 208 inc. 289.1 294.6 5.5 3.1 2.4 3.4 ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 213.0 -54.0 383.1 101.7 131.0 29.3 20.9 0.1 67.4 0.15% Pb 209 178.0 181.2 3.3 2.3 0.1 153.3 ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 239.0 -45.0 366.4 59.1 64.8 5.7 4.4 0.1 45.4 0.19% Pb, 211 0.53% Zn ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 237.0 -49.0 370.9 208.8 254.1 45.4 33.7 1.2 45.7 0.12% Zn 213 inc. 243.0 254.1 11.2 8.3 2.2 78.7 0.20% Pb, 0.36% Zn inc. 249.6 253.0 3.5 2.6 5.0 198.3 0.61% Pb, 1.12% Zn ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 219.0 -45.0 733.7 516.0 552.1 36.2 29.6 2.7 5.6 214 inc. 537.3 549.2 11.9 9.7 4.0 11.4 inc. 544.8 549.2 4.5 3.6 5.3 25.5 ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 261.0 -68.0 175.9 66.6 71.1 4.6 UNK 0.0 18.9 0.1% Mo 215 and 118.3 151.2 32.9 UNK 0.0 15.3 --------------------------------------------------------------------------- Fox Reef Zone: --------------------------------------------------------------------------- Est. Collar Data Inter- Tr. Az Dip Depth From To val Thck Au Ag Hole # Deg Deg (m) (m) (m) (m) (g/t) (g/t) Comments---------------------------------------------------------------------------HR10- 215.0 -53.0 297.8 71.6 72.3 0.7 UNK 0.4 12.6 0.52% Pb, 202 1.74% Zn and 107.2 107.9 0.8 UNK 0.8 15.2 0.13% Pb, 1.47% Zn and 249.1 252.9 3.8 UNK 0.7 4.8 0.13% Pb, 0.59% Zn, 25% Dilution inc. 252.3 252.9 0.6 UNK 0.3 10.0 0.71% Pb, 3.61% Zn ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 200.0 -48.0 279.5 UNK NSV NSV Entire 204 Drillhole averages 0.1g/t Au ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 232.0 -47.0 279.5 UNK NSV NSV 133.7m of 206 0.17g/t Au from 109.6 and 243.2m ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 201.0 -64.0 380.5 116.5 122.4 5.9 UNK 0.1 20.8 0.11% Pb, 210 0.3% Zn, (Diluted) ------------------------------------------------------------------------------------------------------------------------------------------------------HR10- 203.0 -54.0 136.3 UNK NSV NSV 212 ---------------------------------------------------------------------------Analyzed by FA-ES/AA for gold and ICP-MS by Acme Labs, Vancouver BC; Samplesgreater than 10g/t Au re-assayed with FA-Grav - check assays are pending; Silver overlimits (greater than 100g/t Ag) re-assayed with FA-Grav. greater than 0.5g/t Au or 15g/t Ag cut-off used for compositing intervals, less than 25% internal dilution unless otherwise indicated
About Bravo
Bravo Gold Corp. has a 100 percent interest in the Homestake Ridge project located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant indicated resource, at a 3.0 g/t AuEq. cut-off, of 191,000 ozs gold and 1,350,000 ozs silver plus an inferred resource of 348,000 ozs gold and 7,990,000 ozs silver (1). Two deposits have been indentified to date and multiple exploration targets remain to be tested on the large, 2585ha property. Bravo also holds a 17 percent interest in Bravada Gold Corp. (TSX VENTURE:BVA), which is exploring 22 projects in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp.
(1) The current estimate, as reported in NR-07-10, was prepared by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) and carried out using a block model constrained by 3D wireframes of the mineralized zones. The block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, Cu, Pb, and Zn interpolated using Inverse Distance to the Third Power (ID3) weighting. At a 3.0g/t AuEq. cut-off, the model identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and an inferred resource of 2,340,000 tonnes averaging 4.6g/t Au, 105.5g/t Ag and 0.13% Cu.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravo Gold Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
We seek safe harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
For more information, please contact
Bravo Gold Corp.
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.bravogoldcorp.com Click here to see all recent news from this company
BARD Ventures(CBS on TSX-V)Trades 18.7 million shares!!!
TSX-Venture Exchange:
http://tmx.quotemedia.com/marketsca.php?qm_page=10085
Name Symbol Last Price Chg % Chg Open Volume
Bard Ventures Ltd. CBS 0.120 0.020 20.00% 0.145 17,560,141
Alange Energy Corp. ALE 0.345 0.000 0.00% 0.345 9,488,770
InNexus Biotechnology Inc. IXS 0.045 0.005 12.50% 0.040 5,995,212
www.bardventures.com/s/Home.asp
BARD Ventures (CBS on TSX-V) HALTED!
http://www.bardventures.com/s/Home.asp
In the case of Bard Ventures, it is expected that the company will be releasing (Friday January 21st,2011) a much anticipated Preliminary Economice Analysis(PEA or scoping study) on their flagship molybdenum property in British Columbia. The company currently has a market cap of ~$13 million and many are suggesting that the NPV (Net Present Value) of the defined resource thus far may be as high as $500 million!!
Why was ABC Company halted and at whose request?
A stock is generally halted pending the release of material news that may affect the price of a stock. A trading halt allows the market to digest this information and also creates a level playing field among investors. Halts are issued by IIROC for regulatory reasons or at the request of the involved company. When a company requests a trading halt (usually prior to issuing a news release), the company must assure IIROC that its announcement is imminent. The nature of the announcement and the current status of events must also be disclosed to IIROC, so that IIROC can assess the need and timeframe for the trading halt.
Does IIROC review company news releases prior to public dissemination?
Every listed company on the TSX is responsible for having IIROC review its news releases prior to being disseminated over the news wires. Listed companies on the TSX Venture Exchange must have IIROC review their news releases in accordance with TSX Venture Policy 3.3. If you are a company representative and have a question about a news release, please contact a IIROC Surveillance Officer - go to Contact Info.
Reference:http://www.iiroc.ca/English/NewsRoom/HaltsAndResumptions/Pages/FAQs.aspx
BARD Ventures(CBS on TSX-V)HALTED Pending News!!!!
Jan 20, 2011 09:22 ETIIROC: Halt, Bard Ventures
www.bardventures.com/s/Home.asp
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2011) - The following issue(s) have been halted on the TSXV today:
Company / Compagnie BARD VENTURES
TSXV Symbol / Symbole CBS
Reason / Motif COMPANY REQUEST PENDING NEWS
Halt Time / Heure de l'Arret 9:10 E.S.T
- Please note that IIROC is not able to provide any additional information regarding a specific trading halt or resume. Information is limited to general enquiries only.
For more information, please contact
IIROC Inquiries
(416) 646-7299
(604) 602-6986 (FAX)
Surveillancewest@iiroc.ca
www.iiroc.ca
Click here to see all recent news from this company
SLAM Exploration(SXL on TSX-V): 9.02 G/T GOLD OVER 15.1 M CORE INTERVAL
SLAM CUTS 9.02 G/T GOLD OVER 15.1 M CORE INTERVAL
Including High Grade Gold Intercepts Up To 47.69 g/t Gold Over 0.5 m
FOR IMMEDIATE RELEASE 20 JANUARY 2011
Miramichi, New Brunswick - SLAM Exploration Ltd. (TSX-V:SXL) (“SLAM”) is pleased to
announce assays grading up to 47.69 g/t gold over 0.5 m from 3 holes RS10-20 to 22 at its wholly
owned Reserve Creek gold project in the Fort Hope gold area of Ontario. This bonanza grade
intercept occurs within a 15.10 m core interval grading 9.02 g/t gold at a depth of 100.9 m in hole
RS10-21. Selected assay results are tabulated as follows:
Hole ID From m To m Length m Au oz/t Gold g/t
RS1020 64.0 64.5 0.5 0.18 6.29
RS1020 64.5 65 0.5 0.16 5.60
RS1020 65.0 65.5 0.5 0.48 16.38
RS1020 65.5 66.0 0.5 0.20 6.81
RS1020 69.5 70.0 1.0 0.61 20.88
RS1020 63.0 75.0 12.0 0.13 4.58
RS1021 100.9 101.5 0.6 0.25 8.57
RS1021 101.5 102.0 0.5 0.34 11.65
RS1021 102.0 102.5 0.5 0.44 15.08
RS1021 102.5 103.0 0.5 0.57 19.39
RS1021 103.0 103.5 0.5 0.35 12.09
RS1021 103.5 104.0 0.5 1.39 47.69
RS1021 104.0 104.5 0.5 0.37 12.73
RS1021 105.5 106.5 1.0 1.25 42.99
RS1021 100.9 116.0 15.1 0.20 9.02
RS1022 38.1 41.1 3.0 0.06 2.11
The core intervals described are drilled intervals. True thicknesses are unknown. Hole RS10-20,
21 and 22 were drilled at dips of 60, 70 and 45 degrees respectively from one site 15 m west of
previous hole RS10-16. Hole RS10-16 cut a 16.85 m core interval grading 16.45 g/t gold and
contains individual samples of bonanza gold grading up to 274 g/t gold over 0.5 m (news release
17 August 2010). Assays are pending on 3 additional holes RS10-23 to 25 drilled more than
200m west of RS10-16.
SLAM is participating in the World Resource Investment Conference at the Vancouver
Convention Centre, West on 23 – 24 January 2011 with an exhibit in Booth 800. The display
incudes high grade core showing visible gold from hole RS10-21. President Mike Taylor is
scheduled to do a Corporate Presentation at 12:10 PM on Monday 24 January in Workshop
Room 4.
SLAM has drilled 2 holes since activity resumed at Reserve Creek 16 January 2011. Logging
and sampling are in progress on these holes RS11-26 and RS11-27 intersected the mineralized
zone above and below hole RS10-25. The Company has $5.2M cash in the treasury and expects
to expand the drilling program well beyond the current 2,000 m contract.
All drill cores were delivered from the drill sites to a facility in Fort Hope for logging and sampling.
Selected cores were split or sawn with half retained for reference. Sampled halves were shipped
to Accurassay in Thunder Bay for gold assay. Standards and blanks were inserted in the sample
batches to augment the Quality Assurance and Quality Control program utilized by the laboratory.
Michael R. Taylor, P.Geo. President and CEO of SLAM is the Qualified Person responsible for
the technical information contained herein.
About Reserve Creek Gold Project:
SLAM’s wholly owned Reserve Creek gold project encompasses a 4608 hectare block of 22
claims located near Fort Hope, Ontario. Reserve Creek is part of a large and valuable land
package with an expanding inventory of gold deposits centered around Fort Hope approximately
150 km east of the former gold mining town of Pickle Lake. The large greenstone belt surrounding
Fort Hope has many similarities to the prolific Red Lake gold mining camp and has potential to be
a major gold producing area. The Red Lake, Pickle Lake and Fort Hope gold areas are part of the
Uchi subprovince, a major system of greenstone belts extending from Lake Winnipeg to the
Hudson Bay lowlands.
Reserve Creek drilling activities are progressing in consultation with Eabametoong First Nation
(“EFN”) in accordance with a recently signed Exploration Agreement. This Agreement calls for
EFN and SLAM to work cooperatively to advance the gold potential of Reserve Creek and other
SLAM projects in the Fort Hope area of Ontario.
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and is currently drilling
for gold in Ontario and for silver-copper-lead-zinc in New Brunswick. Additional information about
SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at
www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
CONTACT INFORMATION:
SLAM Exploration Ltd.
www.slamresources.com/
NORONT Resources (NOT on TSX-V)4.6% Nickel and 2.1% Copper over 200m!!
Platinum 1.87 grams/tonne $1805.00 /oz $108.52 /tonne
Palladium 7.76 grams/tonne $801.00 /oz $199.84 /tonne
Precious Metal Sub-total » $308.36 /tonne
Copper 2.1% $4.30 /lb $199.08 /tonne
Nickel 4.6% $11.70 /lb $1186.53 /tonne
Base Metal Sub-total » $1,385.61 /tonne
Total Gross Metal Value($USD) $1,693.97/tonne
Equivalent insitu value of 39 g/t of Gold![color=red][/color]
NORONT RESUMES DRILLING AT MCFAULDS LAKE AND ANNOUNCES FINAL RESULTS FOR 2010 EXPLORATION
TORONTO, Jan. 20 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to report all remaining assay results from the 2010 exploration program, including results from holes drilled to collect metallurgical samples, at the Company's McFaulds Lake Project in the James Bay Lowlands, Ontario. The Company is also pleased to announce that exploration has resumed for the winter season.
Highlights - Metallurgical - geotechnical holes at Eagle's Nest:
•NOT-10-GT04 intersected 206.3 meters of 4.6% Ni, 2.1% Cu, 1.87 gpt Pt and 7.76 gpt Pd
•NOT-10-GT01 intersected 48.3 meters of 1.9% Ni, 1.0% Cu, 1.03 gpt Pt and 3.59 gpt Pd
Highlights - Regional Drilling 2010:
•NOT-10-1G186 intersected 1.2 meters of 0.6% Ni, 0.2% Cu, 0.08 gpt Pt and 0.76 gpt Pd
•NOT-10-1G195 intersected 7.8 meters of 0.4% Ni, 0.1% Cu, 0.08 gpt Pt and 0.41 gpt Pd
Noront's President and CEO, Wes Hanson, notes, "Hole NOT-10-GT04, targeted to intersect a broad interval of massive sulphide mineralization at Eagle's Nest for metallurgical sampling, returned one of the best intervals to date confirming the predictive accuracy of resource model. The regional drilling program significantly expanded the limits of the ultramafic rocks that host nickel, copper sulphide mineralization. This expanded footprint has generated additional target areas prospective for nickel, copper sulphides within Noront's large land area." Mr. Hanson adds: "The Company has resumed exploration for the winter season and our focus continues to be the discovery of additional nickel, copper sulphide resources. Initial drilling will focus on the Western and Thunderbird intrusive complexes while ground geophysical surveys are completed at AT-12. On completion of the geophysics, drilling of the AT-12 Complex will commence. We are looking forward to drilling additional targets at AT-12 where the Company has intersected the best nickel, copper sulphides grades outside of Eagle's Nest."
2011 Winter Exploration Program:
The 2011 winter program is fully funded and consists of ground based geophysical surveys and diamond drilling. The focus is on the discovery of additional nickel, copper sulphide mineralization similar to or larger than the Eagle's Nest discovery.
The Company believes additional nickel, copper sulphide mineralization may be buried and therefore does not provide a strong response using airborne geophysics. As a result, ground geophysical surveys of the AT-12 Complex are planned to assist in identifying drill targets.
A total of 10,000 metres of drilling is planned during the winter program. Drilling will utilize two drill rigs for the duration of the program. One drill is currently testing strong borehole geophysical targets within the Western Complex approximately 3 to 4 kilometres southwest of Eagle's Nest. Once completed, this drill will move to the Eagle's Nest Complex to test borehole and surface electromagnetic targets identified in 2010. These targets have the potential to host nickel, copper sulphide mineralization that could increase the mineral resources for the project.
The second drill is currently testing strong geophysical targets at the Thunderbird Complex, specifically to the west of and the extension of the Thunderbird iron, titanium, vanadium ("Fe-Ti-V") discovery. As with AT-12, access to this area in the summer months is difficult. The onset of winter conditions allows the Company to drill at Thunderbird at a significantly reduced cost.
Regional magnetic surveys indicate that the Thunderbird Complex has a 7.0 kilometre strike length. Drilling to date has intersected elevated Fe-Ti-V mineralization over substantial thickness along a 1.0 kilometre strike length. Iron occurs primarily as magnetite that may be amenable to magnetic separation to produce a quality iron concentrate. The Company plans to drill three to five holes to gain a better understanding of the Thunderbird mineralization.
The following Table summarizes the results (previously reported) at Thunderbird.
Thunderbird Drill Results (previously reported April 30, 2009 and July 29, 2009)
HOLE ID FROM
(m) TO
(m) INT.
(m) V2O5
% TiO2
% Fe3O4
%
NOT-09-2G21 132.55 310.58 178.03 0.36 2.77 24.72
and 397.2 496.84 99.64 0.36 2.66 23.58
NOT-09-2G24 64.73 229.59 164.86 0.36 2.79 24.63
and 319.91 433.56 113.65 0.33 2.65 23.2
NOT-09-2G25 75.8 317.21 241.41 0.37 3.07 25.85
The mineralized intervals above do not represent true widths, which cannot be determined at this time.
At AT-12, the Company has initiated deep penetrating surface geophysical surveys that are designed to identify highly conductive mineralization to depths approaching 600 metres. This will be the first time such technology has been utilized by Noront in the Ring of Fire. The objective of the ground based geophysics is to identify potentially buried nickel, copper sulphide mineralization at AT-12.
The Company's geologists and advisors believe that AT-12 is part of a feeder system that is geologically similar to the Eagle's Nest discovery. Previous drilling has intersected significant nickel, copper sulphide mineralization at AT-12. Considering the size and extent of the chromite discoveries to the south of AT-12, the Company believes that the AT-12 feeder system could potentially be much larger than the feeder system at Eagle's Nest. (http://norontresources.com/find/id/55/Qp).
Metallurgical and Geotechnical Drilling Program:
The Company completed a five-hole drill program to acquire geotechnical data and to collect representative samples for initial metallurgical testing of the Eagle's Nest deposit. Hole NOT-10-GT04 was targeted to intersect massive sulphide mineralization over a broad interval length. This hole successfully intersected over 200 metres of massive sulphide mineralization as planned, confirming the predictive accuracy of the current resource model for Eagle's Nest.
With the exception of NOT-10-GT02, samples collected from the drill holes were split with half of the core sent for assay and the other half used to generate metallurgical samples for future testing. In the case of NOT-10-GT02 the core was not split and the entire mineralized interval was used for metallurgical samples. Therefore, no assay data is available. Hole NOT-10-GT02 did intersect nickel, copper sulphide mineralization as planned. (http://norontresources.com/find/id/56/qD) (http://norontresources.com/find/id/57/d2)
Metallurgical samples have been received at SGS Lakefield labs in Peterborough, Ontario. The metallurgical test work is currently underway with results anticipated in the first quarter of 2011.
The following Table summarizes the results of all holes completed for the metallurgical and geotechnical field program. All of the holes drilled for metallurgical and geotechnical purposes are located within or near the Eagle's Nest nickel, copper, platinum and palladium discovery.
HOLE ID FROM
(m) TO
(m) INT.
(m) Ni % Cu % Pt gpt Pd gpt Au
gpt
NOT-10-GT01 147.2 195.5 48.3 1.88 0.96 1.03 3.59 0.12
NOT-10-GT02 Hole not sampled, whole core used to form metallurgical composite samples
NOT-10-GT03 Excessive deviation, restarted as NOT-10-GT03A
NOT-10-GT03A 633.8 701.5 67.7 1.57 0.88 1.04 2.90 0.31
NOT-10-GT04 47.0 253.3 206.3 4.58 2.10 1.87 7.76 0.19
NOT-10-GT05 117.4 138.5 21.1 2.14 2.02 2.42 4.51 0.30
The mineralized intervals above do not represent true widths, which cannot be determined at this time.
2010 Regional Exploration:
Regional drilling in the fall of 2010 increased the lateral extent of the ultramafic host rocks to the north and west of Eagle's Nest, providing an expanded footprint for future exploration. At the Western Complex, west of Eagle's Nest, drilling encountered narrow zones of disseminated sulphide mineralization, indicating potential for larger zones.(http://norontresources.com/find/id/58/58).
The following table presents the complete results from the regional exploration drill program from the fall 2010 program.
HOLE ID FROM
(m) TO
(m) INT.
(m) Ni % Cu % Pt gpt Pd gpt Au
gpt
NOT-10-099 No significant assays
NOT-10-1G186 358.7 359.9 1.2 0.62 0.19 0.08 0.76 0.04
NOT-10-1G187 100.6 100.7 0.1 0.00 1.15 0.01 0.01 0.01
NOT-10-1G188 No significant assays
NOT-10-1G189 No significant assays
NOT-10-1G190 672 674 2.0 0.0 0.0 0.0 0.0 0.66
NOT-10-1G191 566.6 567.0 0.4 0.59 0.11 0.11 0.24 0.01
NOT-10-1G192 318.1 318.4 0.3 0.63 0.17 0.54 1.54 0.07
NOT-10-1G193 No significant assays
NOT-10-1G194 242.1 242.5 0.4 0.00 0.70 0.00 0.00 0.25
Also 251.3 251.5 0.2 0.02 1.00 0.00 0.01 0.45
NOT-10-1G195 72.2 80.0 7.8 0.36 0.09 0.08 0.41 0.06
NOT-10-1G196 No significant assays
NOT-10-1G197 No significant assays
The mineralized intervals do not represent true widths, which cannot be determined at this time.
The Company advises that no further assay results are outstanding at this time.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the McFaulds Lake Project, which includes grouping samples into batches of 35 into which are added 2 certified reference material standards. 2 field and pulp duplicates also form part of the quality control program. It can be said with confidence that all assays reported in this Press Release have passed the strict quality control guidelines as set out by Noront's Qualified Person.
All samples reported upon herein were completed by Activation Labs ("Actlabs)" of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digestion and by ICP analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For more information on assay methodology please visit the Actlabs website at http://www.actlabsint.com.
For further information on the McFaulds Lake Project, please refer to the Company's NI 43-101 compliant technical report "Technical Report and Resource Estimate, McFaulds Lake Project, James Bay Lowlands, Ontario Canada" (effective April 23, 2010) available on the Company's website and at www.sedar.com.
The preparation of this press release has been supervised by Noront's senior management including Jeremy Niemi, P.Geo. Vice President, Geology, who is a Qualified Person under Canadian Securities Administrators guidelines.
About Noront: Noront Resources Ltd. is focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite, gold and vanadium discoveries in an area known as the "Ring of Fire", an emerging multi-metals district located in the James Bay Lowlands of Ontario, Canada. Noront is the largest land holder at the Ring of Fire and continues to delineate and prove up its discoveries with NI 43-101 technical and economic reports and an aggressive and well financed drill plan for 2011. All material information on Noront can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.com
Wesley (Wes) Hanson
President & Chief Executive Officer
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company's publicly filed documents. Although Noront has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Noront at (416) 367-1444, or visit Noront's website at: www.norontresources.com
BARD Ventures (CBS on TSX-V)HALTED!!!
Investment Industry Regulatory Organization of Canada
Jan 20, 2011 09:22 ETIIROC: Halt, Bard Ventures
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2011) - The following issue(s) have been halted on the TSXV today:
Company / Compagnie BARD VENTURES
TSXV Symbol / Symbole CBS
Reason / Motif COMPANY REQUEST PENDING NEWS
Halt Time / Heure de l'Arret 9:10 E.S.T
- Please note that IIROC is not able to provide any additional information regarding a specific trading halt or resume. Information is limited to general enquiries only.
For more information, please contact
IIROC Inquiries
(416) 646-7299
(604) 602-6986 (FAX)
Surveillancewest@iiroc.ca
www.iiroc.ca
Click here to see all recent news from this company
ADI (ADRIANA Resources) HALTED at 10:35 EST!!!!!
Investment Industry Regulatory Organization of Canada
Jan 17, 2011 10:46 ETIIROC: Halt, Adriana Resources Inc.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2011) - The following issue(s) have been halted on the TSXV today:
Company / Compagnie: Adriana Resources Inc.TSXV Symbol / Symbole: ADI - vReason / Motif: Company request pending newsHalt Time / Heure de l'Arret: 10:35 am EST
- Please note that IIROC is not able to provide any additional information regarding a specific trading halt or resume. Information is limited to general enquiries only.
For more information, please contact
IIROC Inquiries
(416) 646-7299
(604) 602-6986 (FAX)
Surveillancewest@iiroc.ca
www.iiroc.ca Click here to see all recent news from this company
AMERICAN BONANZA GOLD (BZA)(TSX-V) ABGFF(Pinks) HALT Lifted!
Investment Industry Regulatory Organization of Canada (IIROC)
Jan 12, 2011 08:32 ETIIROC: Resumption; American Bonanza Gold Corp.
TORONTO, ONTARIO--(Marketwire - Jan. 12, 2011) - The following issue(s) will resume trading today:
Company / Compagnie American Bonanza Gold Corp.
TSX Symbol / Symbole BZA
Resumption / Reprise Market Open
For more information, please contact
Investment Industry Regulatory Organization of Canada- IIROC
416-646-7299
inquiries@iiroc.ca
www.iiroc.ca
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Investment Industry Regulatory Organization of Canada (IIROC)
Trade Resumption 1/12/10
Jan 12, 2011 08:32 ETIIROC: Resumption; American Bonanza Gold Corp.
TORONTO, ONTARIO--(Marketwire - Jan. 12, 2011) - The following issue(s) will resume trading today:
Company / Compagnie American Bonanza Gold Corp.
TSX Symbol / Symbole BZA
Resumption / Reprise Market Open
For more information, please contact
Investment Industry Regulatory Organization of Canada- IIROC
416-646-7299
inquiries@iiroc.ca
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NORONT(NOT):TSX-V: Minister Gravelle(VIDEO): Ring of FIRE
http://www.tbnewswatch.com/video/20887/Ring-of-Fire
NORONT(NOT)-TSX-V:Minister Gravelle Updates Mining and Ring of Fire
Link to article below:
http://netnewsledger.com/?p=5019
Minister Gravelle Updates Mining and Ring of Fire
THUNDER BAY – Thunder Bay Superior North MPP, and Minister of Northern Development, Mines and Forestry, Michael Gravelle was the special guest of the Port Arthur Rotary Club in Thunder Bay today.
Minister Gravelle was updating the Rotarians on the Mining Act and the “Ring of Fire”.
Here is the text of the Minister’s Remarks:
It’s a privilege to join you once again. And, I am especially honoured to help launch Port Arthur Rotary’s New Year.
On that note, let me offer to each and every one of you my most heartfelt wishes for good health and good fortune in 2011.
Today, I will update you on two of Ontario’s major initiatives:
(1) modernizing the Mining Act; and
(2) the Ring of Fire development in the Far North of Ontario.
Let me start with a brief progress report on MAM — Mining Act Modernization.
As you know, the minerals sector is one of Ontario’s major economic drivers.
When we set out to modernize Ontario’s Mining Act, we wanted to strengthen our minerals sector through clear rules and regulations, as well as with streamlined administrative processes. Amending the Act will result in a more balanced approach to mineral exploration and development, and will help keep our mining industry competitive and responsive.
It will mean mineral activities that . . . .Respect surface rights holders, landowners, First Nations and Métis communities, and Aboriginal Treaty rights; and Respect the environment and foster economic development through infrastructure such as roads, rail and energy.
Just a few days ago, the first series of new regulations was launched.
As of January 1st:
Private landowners can now seek withdrawals of Crown mining rights on their property in Northern Ontario so that no mineral exploration will take place on the land; and
They can apply for exemptions from the Mining Land Tax under certain circumstances, such as when the land is not being used for mining.
Most new Mining Act regulations and policies will be phased in over the next two to three years, and are expected to introduce:
New protection for sites of Aboriginal cultural significance;
A paper staking system for claims in southern Ontario, allowing applications for claims to be made using a map; and
A graduated permitting system providing clearer rules about exploration activities.
I encourage you to visit the Mining Act section of our Ministry web site for details and regular updates.
Now I’d like to focus my remaining time on the Ring of Fire. I’m very excited to tell you more about this area in the Far North of Ontario.
As many of you probably know, this area has not only captured people’s attention in Ontario and all over Canada, but it has also garnered quite a bit of global interest.
For those who are not familiar with it, the “Ring of Fire” is located in a remote area situated in the James Bay Lowlands near McFaulds Lake. It’s home to one of the most promising mineral development opportunities in Ontario in more than a century.
The region of specific interest covers an area of more than 5,000 square kilometres, although most discoveries have been made in a much smaller area — roughly 12 to 20 square kilometres in size….
Discoveries that include chromite, nickel, copper, zinc, gold and kimberlite – with the most significant finds being chromite and nickel.
In fact, some estimate the potential for more than a hundred years of chromite production.
Chromite is used mainly as an alloy to produce stainless steel. It simply has no substitute, making it a very valuable resource.
Currently, 75 per cent of the world’s chromite is found in the eastern hemisphere. South Africa accounts for 38 per cent of production, and Kazakhstan and India are the next largest suppliers at 18 per cent each.
The Ring of Fire could become one of the world’s largest discoveries of chromite, and the only one in North America. In fact, the deposit could potentially supply all North American markets in the stainless steel and defence industries.
Both Cliffs Natural Resources, which is interested in bringing its chromite deposits into production, and Noront Resources, which is planning to develop its nickel discoveries are targeting to launch production in the Ring of Fire as early as 2015 or 2016.
It’s a very ambitious timeline, but we will be working diligently to support this goal.
As you can imagine, there are any number of aspects to this initiative that will require careful co-ordination and planning.
As companies move forward with their project planning, Ontario will play a key leadership role in co-ordinating discussions on infrastructure planning at a variety of different levels.
As more companies become actively engaged in exploration within the Ring of Fire, we’ll need to ensure that exploration infrastructure is developed in a manner that minimizes environmental impacts.
But, that still provides opportunities for local communities and service providers to participate during this early stage of development.
Ontario will also play a significant leadership role in facilitating regional infrastructure planning for roads, rail and, potentially, transmission.
I met recently with the key industry players in the Ring of Fire.
They’re currently in the process of developing project descriptions that will set out the economic “base case” for infrastructure and processing requirements on an individual company basis.
A range of alternatives will need to be considered against the “base case” scenarios.
As a result, a major component of our government’s role will be to coordinate these discussions and ensure that infrastructure planning and future development adequately meet industry, community and regional needs.
We are also focusing our efforts on putting forth the best possible business case to secure investment in ferrochrome processing facilities in Ontario. [A high percentage of chromite ore is converted toferrochrome, a key ingredient in the production of stainless steel.]
One reason why I believe we’ll be successful in setting up these processing facilities here in Ontario is our government’s new tax plan for jobs and growth – which includes significant business tax relief.
For example, reducing corporate income tax rates to 10 per cent over the next three years will dramatically improve our competitiveness on an international scale.
In fact, by 2012, Ontario’s combined federal provincial corporate income tax rate for manufacturing and processing will be 25 per cent – a full eight per cent better than the most competitive U.S. states, and more than 11.5 per cent better than the entire Great Lakes states.
As well, changes to electricity pricing for large industrial users will also help to create a competitive framework for investment, including changes to the global adjustment for large electricity users and Ontario’s Northern Industrial Energy Rebate program.
I can assure you that we will continue working diligently to ensure that Ontario benefits from value-added opportunities such as ferrochrome processing and a wide range of opportunities in the supply and services sector. The Ring of Fire is a tremendous economic opportunity for our province, and I want to make this opportunity a reality.
The Ring of Fire will also bring significant benefit to Aboriginal communities in the area.
Communities of the Matawa Tribal Council are among those most directly impacted by development of the Ring of Fire. Of the nine communities within the Tribal Council, five are remote, fly-in-only communities and four are road-access communities.
Remote First Nations communities such as Webequie and Marten Falls are among those most directly impacted by mining development in the Ring of Fire.
An even broader range of communities will potentially be impacted by development of regional infrastructure.
We have been working with Matawa Tribal Council communities for several years, both through the tribal council itself, and on an individual community basis.
Most recently, Ministry of Natural Resources Minister Linda Jeffery and I signed a Letter of Intent with Marten Falls and Webequie First Nations to work together on a series of initiatives that will help build community capacity and increase economic development opportunities associated with the Ring of Fire.
We continue to work closely with these communities. And, we look forward to signing Memoranda of Understanding with each one in the near future, to further solidify our working relationship.
We have also been directly engaged with the Federal Government through the Department of Indian and Northern Affairs Canada to ensure that capacity funding is directed to individual communities and the tribal council as appropriate.
In addition, Ontario has announced significant initiatives aimed at building capacity and community supports associated with the Ring of Fire.
In the 2010 provincial budget, we committed $45 million over a three year period toward a Northern Training Partnership Fund to help Aboriginal Peoples and northerners develop their skills in order to benefit from emerging economic development opportunities like the
Ring of Fire.
We have also committed $10 million in funding for First Nations communities that are working with Ontario on land-use planning. Currently, all Far North communities within the Ring of Fire area have initiated land-use planning initiatives at some level.
We remain committed to working with our Aboriginal partners to foster opportunities to benefit from and participate in economic development and business opportunities, and to develop the social supports and capacity needed for success.
I look forward to meeting with communities again in the coming months to grow our relationship and strengthen partnerships on this historic initiative.
Lastly, let me update you on the province’s new Ring of Fire Secretariat, another significant initiative announced in the last budget.
You know from news reports that we recently hired a Ring of Fire coordinator.
Dr. Christine Kaszycki, previously Assistant Deputy Minister of our Mines and Minerals Division, is now co-ordinator of the Ring of Fire. We are extremely fortunate to benefit from her broad experience and expertise.
As executive lead, Dr. Kaszycki is making certain that opportunities generated by the Ring of Fire benefit northern communities and private-sector businesses throughout the province. She is bringing together all the major players to ensure development not only moves forward, but does so in a fair, balanced way, representing a truly collaborative effort.
Dr. Kaszycki is currently building her Ring of Fire Secretariat team to support Ontario’s efforts to champion sound development of the area.
We are now in the process of hiring an Aboriginal Community and Stakeholder Relations Director to oversee the day-to-day activities of the Secretariat’s lead office, which will be located here in Thunder Bay – on the third floor of the government building at 435 St. James Street.
The director will provide leadership identifying Aboriginal partnership opportunities and delivering on consultation initiatives associated with the Ring of Fire.
We expect to complete the recruitment process and have a director in place in our Thunder Bay office by late February or early March.
I am also pleased to announce that we are in the process of setting up a Ring of Fire Advisory Council.
The role of the council will be to provide high-level advice and recommendations on a range of issues and opportunities as we move forward over the next few years.
While membership has not yet been finalized, I have put forward recommendations and we hope to make an announcement soon.
The Ring of Fire means tremendous opportunity for Ontario. Over the next five years or so, it could bring significant permanent employment opportunities that will last for generations to come.
Development in the Ring of Fire will undoubtedly help build the North’s economy and Ontario’s economy as a whole.
We intend to maximize the benefits of the Ring of Fire for all Ontarians.
I’ll conclude my remarks by reiterating that, in today’s highly competitive global market, a modernized Mining Act will undoubtedly help attract investment and economic opportunities to Ontario.
And, in terms of the Ring of Fire’s incredible potential, we’ve barely scratched the surface.
I look forward to playing a critical co-ordination and facilitation role as this exciting development unfolds.
Thank you once again for the kind invitation to join you today. On behalf of my local colleague MPP Bill Mauro, and all Ministry staff here in Thunder Bay, I hope 2011 keeps you healthy, happy and successful.
(ADI)ADRIANA Resources(TSX-V)WORLD-CLASS IRON ORE DepositSP up 25% today!
International Resource Journal (JANUARY 2011) pp.32-39:
http://www.internationalresourcejournal.com/E-MAG/Jan_11/IRJ.php
Adriana Resources
Raising the bar for iron ore development
A lot can change in a year, particularly for companies exploring resources in geographically rich zones. The last time IRJ spoke with Adriana Resources, a TSXV-listed Canadian company, the team was deeply focused on a Brazilian iron ore project. In 2007, Brazore Ltda., an Adriana Resources subsidiary, had purchased a strategic development site to construct an iron ore port facility. Preliminary environmental studies were completed last year and the technical instruction (IT) leading to the environmental permit was received in September.. The right people were, as they say, in the right places to explore the potential in Brazil. However, when we spoke with Allen J. Palmiere, he explained that it is on Adriana’s home soil that the company intends to focus their efforts in the immediate future.
Previously, Adriana’s resources were directed to the Brazilian properties, which we learned from Palmiere has since changed (Palmiere has been in his role since the summer of 2009, a little after our previous article). “When I joined Adriana, the company was challenged for cash and focused primarily on the Brazilian port project, and there was little emphasis placed on the Quebec property,” he recalls. “When I took on my role, I took the view that the property that has the most potential is our Quebec property—not that Brazil doesn’t have potential but the Quebec project is one of the largest undeveloped iron ore resources in the world,” he explains.
And so, the focus for Adriana changed, as did their home base. The company now operates from Toronto, having moved offices from across the country in Vancouver.
A world-class deposit
Adriana’s Quebec property (where the company is placing all its current efforts), the Lac Otelnuk Iron project is in the Labrador Trough in Nunavik, Quebec. Adriana is working towards developing strategic partnerships in order to move towards production. Research done by Magnus Erickson of Raw Materials Group in Stockholm, reported that the mineral resource identified in the South Zone of Lac Otelnuk ranks it in the top 15 of all known world-class iron deposits.
In a recent statement, the company announced: “Adriana is pleased to say that the South Zone of Lac Otelnuk can now be considered a world-class iron deposit, and the new resource estimate has exceeded our expectations, and is a significant milestone for the company. The significance of this resource estimate will bring global attention to the project and also to Nunavik, Québec, Canada as a major iron ore player.”
The company has now drilled off about a third of the deposit, and according to Palmiere they know that the “deposit is a multiple of what has been drilled so far.”Not only is the company in a much better position than they were two years ago, they are still considered a junior—but operating on a very major deposit. “It is very seldom that a junior company has the opportunity to work with a world-class resource,” Palmiere comments.
Building up the necessary means and support
Adriana has not seen an entirely easy run, however. Logistically, iron ore can be difficult to attain and process, and Palmiere says that “getting rail infrastructure is going to be very important.” The company now must work with provincial partners and get the infrastructure in place in order to maximize the success of the property. “The bigger you have your production the more economic the infrastructure is going to be,” he says. “We’re projecting that this project will cost in excess of $7 billion. For a junior company to raise $7 billion on the capital markets would be virtually impossible,” hence, bringing on a strategic partner—this is the next step for Adriana.
“Conversations still continue, and we’re very optimistic,” Palmiere says.
Dealing with community relations activities is another aspect to working in the area that Adriana is focusing on. In the Nunavik territory, the James Bay Accord grants rights to Inuit in perpetuity—and although the Inuit don’t ultimately approve the mine they do, according to Palmiere, have an involvement with the environmental permitting process. “They are very supportive,” Palmiere says.
Having a firm infrastructure plan bodes well for Adriana and all provincial and local community partners. The Inuit, according to Palmiere, have a shared goal of infrastructure for rail—Palmiere hopes that eventually there will be rail all the way to Kuujjuaq (Nunavik), joining South and North Quebec.
Through Plan Nord, a development project for Quebec as defined by the provincial government, the province will see increased prosperity in Quebec and stimulated economic growth. The plan will see improved infrastructure to facilitate access to the North, more employment opportunities and the development of the housing market in Nunavik.
Adriana’s focus on the Lac Otelnuk project has not only come at a great time for the company (demand is steadily increasing for iron resources), but also for the Northern Quebec communities who will see that a need and a means has been determined for improved infrastructure. “The Inuit people want rail and roads, and power—but the issue in the past has been that there has to be a commercial rationale for development,” Palmiere reasons. “The entire population in the area is only about 40,000, and it has been hard to see how those people can support the massive cost necessary to develop the infrastructure.”
“Our mine, by virtue of the size and location would provide one of the catalysts for Plan Nord—and both the government and the Inuit are supportive.”
Demand will drive business
As demand from the East increases, the potential for the Lac Otelnuk project grows. Adriana has potential to find billions more tonnes of ore in the region, and the company looks forward to supplying that demand that it will see in 2011 and beyond. “Going forward we will be exporting to China. That really will be our marketplace,” Palmiere says. “It’s no secret that China is trying to reduce their reliance for resources on the ‘big three’ [Vale Inco, BHP Billiton and Rio Tinto] so they’re aggressively pursuing alternative sources of supply,” he concludes.
Adriana has made the right moves since Palmiere got on board. The company is focused on developing home-grown resources, and although the Brazil properties have not gone by the wayside, Adriana’s real promise lies in Quebec’s north.
http://www.internationalresourcejournal.com/mining/mining_january_11/adriana_resources_-_raising_the_bar_for_iron_ore_development.html
www.adrianaresources.com
(SXL)SLAM Exploration(TSX-V):605 g/t Silver Over 1.40 m!
SLAM EXTENDS HIGH GRADE SILVERJACK ZONE WITH MORE
ASSAYS
Diamond Drilling Hits Mineralization Grading Up to 605 g/t Silver Over 1.40 m
For Immediate Release 22 December 2010
Miramichi, New Brunswick - SLAM Exploration Ltd. (TSX-V:SXL) (“SLAM”) is pleased to
announce assay results from the first 8 holes of its 3,000 m diamond drilling program at
Silverjack. All 8 holes hit significant mineralization with drill core intervals ranging up to 9.60 m
grading 230.90 g/t silver, 1.53% copper, 2.89% lead and 2.53% zinc. This broad interval includes
individual samples ranging up to 605 g/t silver, 2.42% copper, 3.41% lead and 2.99% zinc.
Selected results are outlined in the following table:
DDH From m To m Length m Silver g/t Copper % Zinc % Lead %
SJ10-21 40.95 45.45 4.50 107.66 0.80 0.60 0.52
SJ10-21 42.00 43.00 1.00 245.00 0.59 0.70 0.67
SJ10-22 37.50 39.10 1.60 32.19 0.07 1.52 1.20
SJ10-23 46.30 46.72 0.42 5.00 0.00 1.78 1.48
SJ10-24 54.09 61.00 6.91 111.37 1.09 3.15 2.70
SJ10-25 45.65 46.17 0.52 40.00 0.17 1.09 1.06
SJ10-26 45.50 55.10 9.60 230.90 1.53 2.89 2.53
SJ10-26 48.50 49.90 1.40 605.00 2.42 3.41 2.99
SJ10-27 71.20 72.98 1.78 67.79 0.87 4.74 3.82
SJ10-28 77.50 79.53 1.23 13.72 0.05 2.78 2.26
The lengths tabulated above are measured core intervals in metres. The true thicknesses are
unknown. These holes were drilled generally 2 per section on 20 m step-outs and have extended
the near-surface, high-grade zone to a strike-length of 110 m. Assays are pending on an
additional 10 holes mainly drilled on soil targets extending up to 1600 m along strike from the
Silverjack zone. A total of 18 holes were completed prior to a temporary shutdown for the holiday
break. The Company expects to complete the remainder of the program in January 2011.
The recently expanded Silverjack property comprises 160 wholly owned mineral claims plus 13
claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune
smelter and seaport and is adjacent to SLAM’s Nash Creek property comprised of 406 mineral
claims covering 6,496 hectares. The Company has been awarded a provincial grant of $35,000
under the New Brunswick Junior Mining Assistance Program to support this drilling program.
Additional information about Silverjack can be viewed at: www.slamresources.com/projects/newbrunswick/
silverjack.
Mike Taylor, P.Geo. President & CEO is the Qualified Person responsible for the technical
information contained herein. Drill cores were delivered from the drill to a secure site for logging
and sampling. Selected drill cores were split or sawn and one half sent to Activation Laboratories.
Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and code
Ultratrace 2 for multi-elements on selected samples. The Company used blank and standard
samples for quality assurance and control.
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM is currently very
active with a drilling program for gold on its Reserve Creek project as well as a drilling program
for silver-copper-lead-zinc at Silverjack. Additional information about SLAM and its projects is
available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about SLAM can be viewed at http://www.slamexploration.com as well at
www.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
CONTACT INFORMATION:
Corporate Inquiries
Mike Taylor, President & CEO
506.627.1353
Toll Free: 866.523.6719
miketaylor@slamexploration.com
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical
fact, that address future production, reserve potential, exploration and development activities and events or developments
that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those in the forward looking statements.
Please see our public filings at www.sedar.com for further information.
AOX(TSX-V) Andover Ventures/Kennecott MINING ProspectANDOVER ANNOUNCES UPDATE ON KENNECOTTS 2010 BIG HILL WORK PROGRAM, UTAH
December 20, 2010, Vancouver, B.C. - Andover Ventures Inc. (“Andover” or the “Company”) (AOX-TSX:V) (AOVTF-United States) (R2X-Frankfurt Exchange) announces today that QuantecGeoscience of Toronto, Ontario, Canada are currently conducting an IP(induced polarization) survey on the Big Hill prospect located on ChiefConsolidated Mining Company’s (Chief) property (a subsidiary ofAndover), East Tintic Mining District, Utah. Data is being collectedfrom IP lines being conducted by Quantec utilizing the Titan IP/ DCsystem which is an alternate system to conventional IP survey systems.The Titan IP/ DC system provides a better IP and resistivity resolutionthan conventional IP. Weather permitting, the field work will becompleted by the end of 2010.
Western Geco hascompleted a MT (magnetotelluric) survey on the Big Hill prospect. Thisdata has allowed Western Geco to develop a final MT inversion model forthe Big Hill prospect and this model has been sent to Kennecott fortheir review.
MPX Geophysics basedin Markham, Ontario, Canada has completed an airborne magnetic survey.An aeromagnetic survey is a geophysical method used for imaging rockunits with variable magnetic characteristics. This passive measurementmethod measures the intensity of the ambient magnetic field by towing amagnetometer on a pre-determined grid behind a helicopter. The resultingmagnetic map will show the distribution of rock units based on theirmagnetic mineral content. The final report has been forwarded toKennecott and upon data interpretation will be used to visualizegeological units and to interpret subsurface geological structure.
The initial 2010 workprogram commenced in August of 2010 and included an airborne magneticsurvey, IP (induced polarization) survey, a ground MT (magnetotelluric)survey, surface mapping, grab sample analysis with PIMA and assay,review and re-assay of Anglo American core from the Big Hill prospectand a compilation and review of old mine data from Chief’s property.
Under the terms of theagreement, Kennecott may earn a 51% interest in the Big Hill Project bycompleting a Pre-feasibility Study or incurring $20,000,000 inexpenditures, whichever occurs first, and an additional 4% interest byfunding all Project costs until delivery of a Feasibility Study acceptedby Rio Tinto.
The Big Hill porphyrytarget is located in the East Tintic Mining District approximately 43miles south east of Rio Tinto’s Bingham Canyon Mine, which is recognizedas one of the worlds largest open pit copper porphyry deposits. A stockwork of quartz vienlets occupies the core zone of the Big Hill targetarea with a lithocap super imposed on the stockwork, a process known astelescoping. Lithocaps usually define the shallow parts of porphyrycopper systems typically above the main Cu-Au-Mo zone.
The Gold Report Interview with Alka Singh (12/20/10)Alka Singh: My favorite silver companies [include] Golden Minerals Company. Golden Minerals is the one I just visited in Argentina, and I think that their El Quevar project is very interesting and has a lot of potential upside. The company's market cap is still under $400 million, and I think it has a long way to go. It is still drilling right now, and all the labs around the world are backlogged. It's already drilled 10 holes on the Carmen prospect and has been waiting for assays for roughly two weeks now. So, the investment thesis on Golden Minerals is this: The Yaxtché zone contains 100% of the company's resources, which is roughly 60.5 Moz. silver. Now based on recent drilling, the geologists on site believe they have two other sub-parallel zones to Yaxtché. One is the Carmen target and the other is Mani (500 m south of Yaxtché). They are parallel to Yaxtché, and if the geologists can prove they are sub-parallel veins to Yaxtché, the resource estimate could even triple. Right now, the company is completing a feasibility study on El Quevar. Once that's reported, we can model the mine very easily. We can build a financial model of the mine that will make us even more confident in the number of ounces, as well as the production and cost numbers. I see the market cap easily doubling once that happens.
TGR: How large can this Yaxtché deposit be?
AS: If the sub-parallel zones are as big as the Yaxtché, about 180 Mozs. of silver. Even if the zones turn out to be smaller, sub-parallel zones, I think Golden Minerals' El Quevar can easily come up with more than 100 Moz of silver.
View Entire Article: Alka Singh: Gold Equities' Upside Greater than Gold
SLAM Exploration Ltd. (TSX-V:SXL) 17/18 holes mineralizedSLAM DRILLING SOUTHWEST OF SILVERJACK
Dec 17, 2010 1:15:00 PM
Mineralized Intercepts Extend 1600 m Along Strike
MIRAMICHI, NB, Dec. 17 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has completed 18 holes to date for a total of 2400 m on its diamond drilling program at Silverjack in New Brunswick. Seventeen of the holes intersected visible lead, zinc and/or copper mineralization over core intervals ranging from 0.3 m to 17.5 m at depths ranging from 8 to 150 metres. The Company anticipates receiving assays on the initial holes within the next few days.
The latest hole SJ10-38 intersected visible lead-zinc mineralization over a 16.5 m core length from 8.5 m to 25 m beneath a trench 1000 m southwest of Silverjack. Other recent intercepts in this area include a 0.4 m interval of semi-massive sulphides with visible copper-lead-zinc mineralization in hole SJ10-35 at a depth of 20 m beneath a new copper discovery. Trenching this copper vein produced grab samples ranging up to 8.0 % copper, 86 g/t silver, 1480 ppm cobalt, 1.82 ppm indium and 222 ppb gold as reported by press release 28 October 2010. To extend the mineralization even further, hole SJ10-36 intersected lead-zinc mineralization over a core length of 5 m at a depth of 150 m beneath a soil anomaly 1600 m southwest of Silverjack. The Company is logging and sampling these latest holes.
This 3,000 m program is a follow-up to a drilling program completed early in 2010 by SLAM. Highlights of that program include hole SJ09-14 which intersected 653 g/t silver, 2.69% copper, 2.00% zinc and 2.34% lead over a core interval of 0.75 m within a 6.6 m interval grading 268.20 g/t silver, 1.27 % copper, 5.65% zinc and 4.53% lead as announced by press release 16 February 2010. The Company expects to complete the remainder of the program in January 2011. The Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program to support this drilling program.
The recently expanded Silverjack property comprises 160 wholly owned mineral claims plus 13 claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune smelter and seaport and is adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares. Additional information about Silverjack can be viewed at:www.slamresources.com/projects/new-brunswick/silverjack.
Derek F. Brown, P.Geo. and consultant to SLAM, is the Qualified Person responsible for the technical information contained herein. The lengths tabulated above are measured core intervals in metres. The true thicknesses are unknown. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split and one half sent to Activation Laboratories. Activation Labsanalyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements. The Company used blank and standard samples for quality assurance and control.
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings atwww.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about SLAM can be viewed at www.slamexploration.com as well atwww.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
SLAM Exploration Ltd. (TSX-V:SXL)
SLAM DRILLING SOUTHWEST OF SILVERJACK
Dec 17, 2010 1:15:00 PM
Mineralized Intercepts Extend 1600 m Along Strike
MIRAMICHI, NB, Dec. 17 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has completed 18 holes to date for a total of 2400 m on its diamond drilling program at Silverjack in New Brunswick. Seventeen of the holes intersected visible lead, zinc and/or copper mineralization over core intervals ranging from 0.3 m to 17.5 m at depths ranging from 8 to 150 metres. The Company anticipates receiving assays on the initial holes within the next few days.
The latest hole SJ10-38 intersected visible lead-zinc mineralization over a 16.5 m core length from 8.5 m to 25 m beneath a trench 1000 m southwest of Silverjack. Other recent intercepts in this area include a 0.4 m interval of semi-massive sulphides with visible copper-lead-zinc mineralization in hole SJ10-35 at a depth of 20 m beneath a new copper discovery. Trenching this copper vein produced grab samples ranging up to 8.0 % copper, 86 g/t silver, 1480 ppm cobalt, 1.82 ppm indium and 222 ppb gold as reported by press release 28 October 2010. To extend the mineralization even further, hole SJ10-36 intersected lead-zinc mineralization over a core length of 5 m at a depth of 150 m beneath a soil anomaly 1600 m southwest of Silverjack. The Company is logging and sampling these latest holes.
This 3,000 m program is a follow-up to a drilling program completed early in 2010 by SLAM. Highlights of that program include hole SJ09-14 which intersected 653 g/t silver, 2.69% copper, 2.00% zinc and 2.34% lead over a core interval of 0.75 m within a 6.6 m interval grading 268.20 g/t silver, 1.27 % copper, 5.65% zinc and 4.53% lead as announced by press release 16 February 2010. The Company expects to complete the remainder of the program in January 2011. The Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program to support this drilling program.
The recently expanded Silverjack property comprises 160 wholly owned mineral claims plus 13 claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune smelter and seaport and is adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares. Additional information about Silverjack can be viewed at:www.slamresources.com/projects/new-brunswick/silverjack.
Derek F. Brown, P.Geo. and consultant to SLAM, is the Qualified Person responsible for the technical information contained herein. The lengths tabulated above are measured core intervals in metres. The true thicknesses are unknown. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split and one half sent to Activation Laboratories. Activation Labsanalyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements. The Company used blank and standard samples for quality assurance and control.
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings atwww.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about SLAM can be viewed at www.slamexploration.com as well atwww.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
AVI(TSX-V) Avanti Mining: POSITIVE ROBUST
FEASIBILITY STUDY
http://www.kitco.com/pr/2342/article_12162010191532.pdf
AVANTI MINING RECEIVES POSITIVE FEASIBILITY STUDY CONFIRMING ROBUST
ECONOMICS FOR RESTART OF KITSAULT MOLYBDENUM MINE
December 17, 2010 TSX-V:AVT
Vancouver, British Columbia: Avanti Mining Inc. (TSX-V:AVT) (“Avanti”) is pleased to release
the results of the NI 43-101 Feasibility Study (“FS”) prepared by AMEC on its 100% owned
Kitsault Molybdenum property in northwest British Columbia, Canada. The complete report will
be filed on SEDAR and Avanti’s web site, www.avantimining.com, within 45 days of the issue of
this press release. All figures are in US dollars and were derived assuming 100% equity funding.
Highlights include:
• An increased resource estimate containing Measured and Indicated mineral resources
totaling 298.8 million tonnes grading 0.072% molybdenum and 4.20 g/t Ag containing
472.5 million pounds of Mo and 40.3 million ounces of Ag. This represents a 9.7%
increase of contained molybdenum and an 18% increase of contained silver over our prior
estimate for measured plus indicated mineral resources. In addition, the Inferred category
totals 157.1 million tonnes grading 0.050 % Mo and 3.65 g/t Ag containing 172.2 million
pounds of molybdenum and 18.4 million ounces of silver an increase of 330% of
contained molybdenum and 360% of contained silver over our previous resource estimate
for inferred mineral resources.
• The mine plan calls for a total of 232.5 million tonnes of proven and probable reserves
grading 0.081% molybdenum to be mined over a 16 - year mine life, producing 373.9
million pounds of molybdenum. The first five years of production averages 0.101% Mo;
• A long term exchange rate of .92 has been used to convert CDN$ to US $
• Initial capital costs are estimated at $770 million (+/- 15% accuracy estimated in C$ at
$837 million);
• Cash operating costs (mine gate) are estimated to be $4.76/lb of molybdenum;
• The average annual price of molybdenum for the base case scenario over the mine life as
forecast by the CPM Group ranges from $13.75/lb to $18.25/lb based upon their June
2010 Molybdenum Market Outlook. The average over the Kitsault mine life is $16.76 per
pound of molybdenum. Forecasts were also prepared for a low and a high price scenario.
• The base case after-tax NPV(8%) is $798 million, with an IRR of 26.8%
• Projected undiscounted net cash flow (after-tax) is $2.0 billion;
• Annual metal production for the mine life averages 23.4 million pounds of molybdenum
with the first five years averaging 29.6 million pounds per year;
• There is a life of mine roasting agreement in place with Molymet that assures roasting
capacity for the project;
• The mine has certain infrastructure in place with road and ocean freight access to the
mine site and will be serviced by the existing BC Hydro transmission grid;
• The reopening of the mine is projected to create over 350 high paying local jobs during its
16 year life, and at the peak of construction, over 650 jobs. The construction period is
estimated at 25 month;
• The project is progressing through environmental assessment process under the BC and
federal legislation as well as the Nisga’a Final Agreement and expects to submit its
Application in April 2011.
“We are delighted with the plan developed in this Feasibility Study by AMEC and other
contributors” stated Craig J. Nelsen, Avanti’s President and CEO. “We are pleased with the
projects robust economics and plan to utilize this study as the basis for negotiating strategic
partnerships to assist with the financing plan for Kitsault. Our schedule anticipates receipt of
permits toward the end of 2011 and construction to follow in early 2012 with initial production in
2014”
Project Description
The Kitsault property is located about 140 km north of Prince Rupert, British Columbia, and south
of the head of Alice Arm, an inlet of the Pacific Ocean. The property includes three known
molybdenum deposits, Kitsault, Bell Moly, and Roundy Creek. The Kitsault mine was a producer
of molybdenum between 1967 and 1972 and from 1981 to 1982 with total production on the
property during both periods being approximately 31 million pounds of molybdenum.
Kitsault has road access to the mine site, which is approximately 12 km from ocean transport
routes and is serviced by the BC Hydro transmission grid. The Feasibility Study estimates that
the Kitsault Mine would operate at an annual resource throughput rate of 14.6 million tonnes, or
40,000 tpd, with a strip ratio of 0.77:1 during a mine life of 16 years. The ore mined will be
crushed in a gyratory primary crusher, then ground using a SAG-ball mill configuration.
Conventional flotation and five stages of cleaning will produce molybdenum concentrate that will
be dried and packaged into bags for shipment. The life-of-mine molybdenum production is
estimated at 373.9 million pounds of molybdenum contained in 326,150 tonnes of molybdenum
concentrate produced from the processing of 232.7 million tonnes of reserves grading 0.081%
Mo plus planned dilution. Total molybdenum recovery varies depending on mill head grade but
is estimated to average 89.9%.
Mineral Resource/Reserves Statement
The mineral resources are reported in accordance with Canadian Institute of Mining, Metallurgy
and Petroleum (CIM) Definition Standards for Mineral Resources Mineral Reserves and their
Guidelines, and are compliant with National Instrument 43-101 (“NI 43-101”). The resource
estimate was prepared under the supervision of Greg Kulla, P.Geo, an independent Qualified
Person (QP), as this term is defined in NI 43-101. The mineral resource statement for the Kitsault
molybdenum project is presented in Table 1 below:
Table 1. Kitsault Mineral Resources, Effective Date 8 November, 2010,
Greg Kulla, P. Geo. (cut-off 0.021% Mo)
Category Volume Density Tonnage Mo Mo Ag Ag
Mm3 g/cm3 Mt % MLb Ppm Moz
Measured 27.6 2.65 73 0.093 150.3 4.28 10
Indicated 84.9 2.66 225.8 0.065 322.2 4.17 30.3
Measured + Indicated 112.4 2.66 298.8 0.072 472.5 4.2 40.3
Inferred 58.8 2.66 157.1 0.05 172.2 3.65 18.4
Notes:
1. Mineral Resources are inclusive of Mineral Reserves
2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
3. Mineral Resources are defined with a Lerchs–Grossmann pit shell, and reported at a 0.021% Mo cut-off grade
4. Mineral Resources are reported using a commodity price of Can$15.62/lb Mo, an average process recovery of 89%, a
process cost of Can$ 5.84/t and selling cost of $1.24 /lb of Mo sold. No revenue was assumed for Ag
5. Tonnages are rounded to the nearest 1,000 tonnes, grades are rounded to three decimal places for Mo and two
decimals for Ag
6. Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and
contained metal content
7. Tonnage and grade measurements are in metric units; contained molybdenum is in imperial pounds.
8. There is potential for a 30 to 50% recovery of the silver reporting to a saleable concentrate. As of December 1, 2010,
the metallurgical work in support of this is indicative only, suggesting that although there may be a reasonable prospect
to extract this silver resource there is insufficient work to define the level of benefit that would support inclusion of silver
in a reserve estimate. No dedicated silver recovery circuit has been included in the process design, but there are
reasonable expectations that this can be added in the future.
The mineral resources are reported at a cut-off grade to reflect the “reasonable prospects” for
economic extraction. This estimate of the Kitsault molybdenum deposit is based open pit
extraction and Avanti and AMEC has not considered underground mining methods for deeper
portions of the deposit. Although silver has been reported in the mineral resource, it has not been
included in the economic analysis or the reserve statement below. There is sufficient
metallurgical testwork to suggest it could be an economic contributor but this work has not yet
reached the feasibility level of confidence. The recovery of silver remains a potential project
upside contributor, as well as the opportunity of conversion of Inferred to higher confidence
categories through additional drilling. Additional drilling will continue through the 2011 field
season in parallel with Basic and Advanced Engineering studies.
The following Table 2 reflects the sensitivity of the resource estimate to various cut-off grades.
Table 2. Mo Cut-off Grade Sensitivity Analyses within Resource Pit – Measured
and Indicated Resources
Cut-off Tonnes Mo Ag Mo Ag
Mo % (kt) (%) (ppm) (Mlbs) (Moz)
0.010 348,203 0.064 4.09 489.7 45.8
0.015 328,421 0.067 4.13 484.2 43.6
0.021 298,835 0.072 4.2 472.5 40.3
0.025 278,316 0.075 4.26 462.1 38.1
0.030 249,895 0.081 4.34 444.8 34.8
0.035 224,460 0.086 4.4 426.7 31.8
0.040 204,924 0.091 4.47 410.6 29.4
MEASURED & INDICATED RESOURCES
AMEC conducted a complete re-evaluation of all old historic and recent drilling information and
recalculated the mineral resources from first principals. 10 holes from the previous database
were not used in the calculation because of inability to verify core quality (recoveries) and assay
methods.
The Kitsault mine Mineral Reserves have been prepared in accordance with NI 43-101 standards
and CIM Definition Standard (2010). This statement has been prepared by Mr. Ryan W. Ulansky
(P.Eng.) of AMEC, a QP as defined in NI 43-101. These reserves are sufficient for 16 years of
operation at an annual production rate of 40,000 t/d. Mineral Reserves are summarized by
category in Table 3. The notes accompanying Table 3 are an integral part of the Mineral
Reserves and should be read in conjunction with the Mineral Reserve statement.
Table 3. Kitsault Mineral Reserves, Effective Date 8 November, 2010,
Ryan Ulansky, P. Eng. (cut-off 0.026% Mo)
Contained Mo
(MLb)
Proven 69.7 0.097 148.5
Probable 162.8 0.075 267.3
Total Proven and Probable 232.5 0.081 415.8
Category Tonnage (Mt) Mo (%)
Notes:
1. Mineral Reserves are defined within a mine plan, with pit phase designs guided by Lerchs–Grossmann (LG) pit shells,
and reported at a 0.026% Mo cut-off grade, after dilution and mining loss adjustments. The LG shell generation was
performed on measured and indicated materials only, using a molybdenum price of Cdn$13.58/Lb, an average mining
cost of Cdn$1.94/t mined a combined ore based cost of Cdn$5.84/t milled, and a selling cost of $1.24 /lb of Mo sold.
Metallurgical recovery used was a function of the head grade, defined as Recovery =7.5808*Ln (Mo %) +108.63 with a
cap applied at 95%. Overall pit slopes varied from 42 to 48 degrees.
2. Dilution and Mining loss have been accounted for based on a waste neighbour analysis. 1.5Mt of measured and
indicated material above cut-off was routed as waste. 1.9Mt of measured and indicated material below cut-off has been
included as dilution material. An additional 0.2Mt of inferred dilution material with grades set to zero is included in the
mine plan as millfeed.
3. Tonnages are rounded to the nearest 1,000 tonnes, grades are rounded to three decimal places for Mo.
4. Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and
contained metal content
5. Tonnage and grade measurements are in metric units; contained molybdenum is in imperial pounds.
6. The life of mine strip ratio is 0.77
Mining
The single ultimate pit will be mined in six phases, with elevated cut-offs in the early years and
low grade stockpiling. A bulk mining approach has been selected, mining on 10m benches. The
selected mining fleet features one 26 m3 rope shovel, one 28 m3 electric hydraulic shovel, one 18
m3 front end loader, and up to ten 218-tonne haul trucks with related support equipment.
Benches will be drilled with 8 m by 8 m production drill patterns and wall control patterns as
required. The holes will be loaded and shot with a 70% emulsion/30% ANFO blend blasting
agent. Ore control will be based on blasthole samples assayed for molybdenum.
Waste rock will be stored in an expansion to the existing Patsy Waste Management Facility. Low
grade ore will be stockpiled throughout the mine life on the top of the existing Clary Waste
Management Facility. This ore stockpile will be reclaimed and processed during the last two
years of the operation.
The mining production schedule is presented in Table 4.
Table 4 Summarized Production Schedule
Ore to
Mining Ore Direct Low Grade Waste Total Strip Mill Mo Grade
Period to Mill (kt) Stockpile (kt) Mined (kt) Ratio Production (%)
-2 - - - - -
-1 362 8,500 23.48
1 13,836 3,801 19,910 37,547 1.13 14,029 0.104
2 14,600 4,126 22,940 41,666 1.23 14,600 0.106
3 14,600 3,088 21,375 39,063 1.21 14,600 0.114
4 14,600 5,969 13,315 33,884 0.65 14,600 0.088
5 14,600 2,833 15,349 32,782 0.88 14,600 0.096
6 14,600 2,581 14,136 31,317 0.82 14,600 0.096
7 14,600 2,087 12,675 29,362 0.76 14,600 0.089
8 14,600 1,043 12,725 28,368 0.81 14,600 0.082
9 14,600 1,024 11,061 26,685 0.71 14,600 0.08
10 14,600 291 8,125 23,016 0.55 14,600 0.074
11 14,600 - 6,523 21,123 0.45 14,600 0.072
12 14,600 - 5,360 19,960 0.37 14,600 0.068
13 14,600 - 3,657 18,257 0.25 14,600 0.079
14 14,600 - 2,103 16,703 0.14 14,600 0.081
15 1,833 - 475 2,308 0.26 14,600 0.037
16 - - - - 14,245 0.031
Totals 205,469 27,205 178,229 410,903 0.77 232,674 0.081
Note: As part of the dilution / mining loss adjustments, an additional .202 kt of inferred dilution material with grades set to zero
is routed to the mill
Processing
The proposed concentrator in this study is based on an annual resource throughput rate of 14.6
Mt, or 40,000 tpd at 92% plant availability, for the production of a molybdenum concentrate. The
processing plant is expected to operate 24 hours/day, 365 days/year. Over the life of mine, the
processing plant will produce an estimated 326,150 t of molybdenite concentrate grading 52%
Mo. The molybdenum recovery is variable with the average estimated at 89.9%.
The proposed process design is based on historical testwork results, the results from a recent
(2009 and 2010) test program and utilizing plant data from the previous Kitsault concentrator
operations. Plant design, principally the crushing-grinding circuit has been revised to reflect
current technologies using a primary crusher-SAG-ball mill configuration. The process design is
composed of the following unit processes:
• Primary crushing using a gyratory crusher;
• Grinding using a SAG–ball mill-pebble crusher configuration with cyclones for flotation
feed size classification;
• Rougher and scavenger flotation;
• Five stages of cleaner flotation with three stages of regrinding;
• Final molybdenum concentrate thickening, leaching for the removal of contaminants, and
the filtering, drying and packaging of the final concentrate; and
• Flotation to produce desulfidized tailings which will have a portion cycloned for dam
construction and the remainder will be deposited by gravity into an on-site Tailings
Management Facility (TMF). Pyritic tailings will be deposited in a separate submerged cell
in the TMF to prevent oxidation.
Capital Costs
Initial capital costs are estimated at $770 million, which includes $50 million for mobile mining
equipment. Preproduction stripping costs of $13 million are reflected in the initial operating
costs. Life of Mine sustaining mine capital was estimated to be $50 million, which is comprised
mainly of mobile equipment and TMF embankment ongoing construction. All capital costs are
[+/-15%] in this estimate.
The capital costs for the mine, plant and TMF are given in Table 5 below.
Table 5 Capital Cost Summary
Cost
(US$M)
1000 Mining 83.8
2000 Site preparation and roads 35.5
3000 Process facilities 195.1
4000
Tailings management and reclaim
systems 89.8
5000 Utilities ties 39.7
6000 Ancillary buildings and facilities 38.4
Total Direct Costs 482.3
8000 Owner’s costs 21.1
9000 Indirects 266.7
Total Indirect Costs 287.8
Contingency Incl above
Total Capital Costs 770
Area Description
Operating Costs
LOM unit cash operating costs are US$7.64/t milled and operating costs for the processing plant
are estimated at $4.36/t milled (±15% accuracy). General and administrative costs have been
estimated at $1.00/t milled. The Life of Mine unit cash operating costs are also summarized in
Table 6 below:
Table 6. Unit Cash Operating Costs (LOM average – US$)
Area Total
LOM(
00) US$/t Milled US$/lb Mo
Mine Operations 528,038 2.27 1.42
Processing Operations 1,014,030 4.36 2.71
Administration 232,745 1.00 0.63
Total 1,774,813 7.64 4.76
Project Economics
The Feasibility Study economic results utilized assumptions summarized in the Table 7 below:
Table 7 Financial Analysis Parameters
Parameters Inputs
General Assumptions
Mine Life 16 years
Available mill operating days per year 365 days/y
Production Rate (average) 40,000tpd
Average Process Recovery 89.9%
Molybdenum Concentrate - LOM 326,150t
CDN$:US$ exchange rate .92
Market
Discount Rate 8%
Base Case LOM average molybdenum price $16.76/lb
Royalty
Amax Zinc (Newfoundland) Ltd Net profits Interest 9.22%
Alcoa Royalty 1.0%
The FS economic model for the base case in this study assumes a LOM average molybdenum
price of $16.76/lb for revenue purposes, as projected by CPM Group.
The after-tax NPV at an 8% discount rate over the estimated mine life is $798 million. The aftertax
IRR is 26.8%. Payback of the initial capital investment is estimated to occur in 2.6 years after
the start of production
Sensitivity
Sensitivity analysis for key economic parameters is shown in Table 8 prior to tax effects. This
analysis suggests that the project is most sensitive to exchange rates followed by commodity
prices. The Project is least sensitive to operating and capital costs.
Table 8 Base Case Sensitivity to Pre-Tax NPV at 8% Discount Rate
-30% -20% -10% 0% 10% 20% 30%
Exchange rate 2,424 1,922 1,531 1,219 963 749 569
Capital expenditure 1,426 1,357 1,288 1,219 1,150 1,080 1,011
Operating expenditure 1,485 1,396 1,307 1,219 1,130 1,041 953
Metal price 365 650 934 1,219 1,503 1,787 2,071
Factor
SENSITIVITY OF PRE-TAX NPV @ 8% Change in Factor
Development Timetable
A construction schedule has been established that is contingent on the following milestones to
be realized:
Table 9: Project Milestones
Milestone Date
Notice to proceed 1-Jan-12
Begin crushing and screening at pit site 1-Jan-12
Begin earthworks at plant site 2-Mar-12
Begin work at south embankment 1-Apr-12
Construction camp ready for partial occupancy 1-Jun-12
Construction power and communications at plant site compete 30-Jun-12
Commence concrete at plant site 1-July-12
Construction camp ready for full occupancy 30-Sep-12
Truckshop construction complete 30-Oct-13
Complete installation of power and distribution 31-Oct-13
Complete north embankment 31-Oct-13
Begin commissioning 1-Dec-13
Plant ready for start-up 29-Jan-14
Complete south embankment 30-Jan-14
The NI 43-101 Preliminary Feasibility Study, Avanti Mining Inc., Kitsault Molybdenum Property,
British Columbia, Canada was prepared by industry consultants, all of whom are independent of
Avanti Mining Inc. and are QP’s under National Instrument 43-101. The QP’s have reviewed and
approved this news release. The consultants (QP’s) with their responsibilities are as follows:
AMEC Inc. under the direction of Mr. Greg Kulla (P. Geo.) for matters relating to geology and
mineral resource reporting.
AMEC Inc. under the direction of Mr. Ryan W. Ulansky (P.Eng.) for matters and costs relating to
mineral reserve statements, mining, mining capital, and mine operating costs.
AMEC Inc. under the direction of Mr. Tony Lipiec (P.Eng.) for matters relating to the metallurgical
testing review, mineral processing, and process operating costs.
SRK Consulting (Canada) Inc. (SRK Canada) under the direction of Mr. Peter Healey (P.Eng) for
matters and costs relating to mine closure and reclamation.
SRK US under the direction of Mr. Michael Levy (P.E., P.G.) for matters relating to the pit slopes.
Knight Piésold Ltd. (KP) under the direction of Mr. Bruno Borntraeger (P.Eng.) for matters and
costs relating to plant site geotechnical conditions, surface water diversions and the Tailings
Management Facility (TMF).
Avanti Mining Inc. is focused on the development of the past producing Kitsault molybdenum
mine located north of Prince Rupert in British Columbia. Mr. Kenneth Collison, Senior Vice
President of Project Development for the Company and a Qualified Person as defined in NI 43-
101, has reviewed and approved the scientific or technical information in this press release.
For further information, please visit www.avantimining.com, or contact:
Craig J. Nelsen, Chief Executive Officer, 303-565-5491, extension 4471, or
A.J. Ali, Chief Financial Officer, 303-565-5491, extension 4472
POSITIVE FEASIBILITY STUDY CONFIRMING ROBUST
ECONOMICS
http://www.kitco.com/pr/2342/article_12162010191532.pdf
AVANTI MINING RECEIVES POSITIVE FEASIBILITY STUDY CONFIRMING ROBUST
ECONOMICS FOR RESTART OF KITSAULT MOLYBDENUM MINE
December 17, 2010 TSX-V:AVT
Vancouver, British Columbia: Avanti Mining Inc. (TSX-V:AVT) (“Avanti”) is pleased to release
the results of the NI 43-101 Feasibility Study (“FS”) prepared by AMEC on its 100% owned
Kitsault Molybdenum property in northwest British Columbia, Canada. The complete report will
be filed on SEDAR and Avanti’s web site, www.avantimining.com, within 45 days of the issue of
this press release. All figures are in US dollars and were derived assuming 100% equity funding.
Highlights include:
• An increased resource estimate containing Measured and Indicated mineral resources
totaling 298.8 million tonnes grading 0.072% molybdenum and 4.20 g/t Ag containing
472.5 million pounds of Mo and 40.3 million ounces of Ag. This represents a 9.7%
increase of contained molybdenum and an 18% increase of contained silver over our prior
estimate for measured plus indicated mineral resources. In addition, the Inferred category
totals 157.1 million tonnes grading 0.050 % Mo and 3.65 g/t Ag containing 172.2 million
pounds of molybdenum and 18.4 million ounces of silver an increase of 330% of
contained molybdenum and 360% of contained silver over our previous resource estimate
for inferred mineral resources.
• The mine plan calls for a total of 232.5 million tonnes of proven and probable reserves
grading 0.081% molybdenum to be mined over a 16 - year mine life, producing 373.9
million pounds of molybdenum. The first five years of production averages 0.101% Mo;
• A long term exchange rate of .92 has been used to convert CDN$ to US $
• Initial capital costs are estimated at $770 million (+/- 15% accuracy estimated in C$ at
$837 million);
• Cash operating costs (mine gate) are estimated to be $4.76/lb of molybdenum;
• The average annual price of molybdenum for the base case scenario over the mine life as
forecast by the CPM Group ranges from $13.75/lb to $18.25/lb based upon their June
2010 Molybdenum Market Outlook. The average over the Kitsault mine life is $16.76 per
pound of molybdenum. Forecasts were also prepared for a low and a high price scenario.
• The base case after-tax NPV(8%) is $798 million, with an IRR of 26.8%
• Projected undiscounted net cash flow (after-tax) is $2.0 billion;
• Annual metal production for the mine life averages 23.4 million pounds of molybdenum
with the first five years averaging 29.6 million pounds per year;
• There is a life of mine roasting agreement in place with Molymet that assures roasting
capacity for the project;
• The mine has certain infrastructure in place with road and ocean freight access to the
mine site and will be serviced by the existing BC Hydro transmission grid;
• The reopening of the mine is projected to create over 350 high paying local jobs during its
16 year life, and at the peak of construction, over 650 jobs. The construction period is
estimated at 25 month;
• The project is progressing through environmental assessment process under the BC and
federal legislation as well as the Nisga’a Final Agreement and expects to submit its
Application in April 2011.
“We are delighted with the plan developed in this Feasibility Study by AMEC and other
contributors” stated Craig J. Nelsen, Avanti’s President and CEO. “We are pleased with the
projects robust economics and plan to utilize this study as the basis for negotiating strategic
partnerships to assist with the financing plan for Kitsault. Our schedule anticipates receipt of
permits toward the end of 2011 and construction to follow in early 2012 with initial production in
2014”
Project Description
The Kitsault property is located about 140 km north of Prince Rupert, British Columbia, and south
of the head of Alice Arm, an inlet of the Pacific Ocean. The property includes three known
molybdenum deposits, Kitsault, Bell Moly, and Roundy Creek. The Kitsault mine was a producer
of molybdenum between 1967 and 1972 and from 1981 to 1982 with total production on the
property during both periods being approximately 31 million pounds of molybdenum.
Kitsault has road access to the mine site, which is approximately 12 km from ocean transport
routes and is serviced by the BC Hydro transmission grid. The Feasibility Study estimates that
the Kitsault Mine would operate at an annual resource throughput rate of 14.6 million tonnes, or
40,000 tpd, with a strip ratio of 0.77:1 during a mine life of 16 years. The ore mined will be
crushed in a gyratory primary crusher, then ground using a SAG-ball mill configuration.
Conventional flotation and five stages of cleaning will produce molybdenum concentrate that will
be dried and packaged into bags for shipment. The life-of-mine molybdenum production is
estimated at 373.9 million pounds of molybdenum contained in 326,150 tonnes of molybdenum
concentrate produced from the processing of 232.7 million tonnes of reserves grading 0.081%
Mo plus planned dilution. Total molybdenum recovery varies depending on mill head grade but
is estimated to average 89.9%.
Mineral Resource/Reserves Statement
The mineral resources are reported in accordance with Canadian Institute of Mining, Metallurgy
and Petroleum (CIM) Definition Standards for Mineral Resources Mineral Reserves and their
Guidelines, and are compliant with National Instrument 43-101 (“NI 43-101”). The resource
estimate was prepared under the supervision of Greg Kulla, P.Geo, an independent Qualified
Person (QP), as this term is defined in NI 43-101. The mineral resource statement for the Kitsault
molybdenum project is presented in Table 1 below:
Table 1. Kitsault Mineral Resources, Effective Date 8 November, 2010,
Greg Kulla, P. Geo. (cut-off 0.021% Mo)
Category Volume Density Tonnage Mo Mo Ag Ag
Mm3 g/cm3 Mt % MLb Ppm Moz
Measured 27.6 2.65 73 0.093 150.3 4.28 10
Indicated 84.9 2.66 225.8 0.065 322.2 4.17 30.3
Measured + Indicated 112.4 2.66 298.8 0.072 472.5 4.2 40.3
Inferred 58.8 2.66 157.1 0.05 172.2 3.65 18.4
Notes:
1. Mineral Resources are inclusive of Mineral Reserves
2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
3. Mineral Resources are defined with a Lerchs–Grossmann pit shell, and reported at a 0.021% Mo cut-off grade
4. Mineral Resources are reported using a commodity price of Can$15.62/lb Mo, an average process recovery of 89%, a
process cost of Can$ 5.84/t and selling cost of $1.24 /lb of Mo sold. No revenue was assumed for Ag
5. Tonnages are rounded to the nearest 1,000 tonnes, grades are rounded to three decimal places for Mo and two
decimals for Ag
6. Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and
contained metal content
7. Tonnage and grade measurements are in metric units; contained molybdenum is in imperial pounds.
8. There is potential for a 30 to 50% recovery of the silver reporting to a saleable concentrate. As of December 1, 2010,
the metallurgical work in support of this is indicative only, suggesting that although there may be a reasonable prospect
to extract this silver resource there is insufficient work to define the level of benefit that would support inclusion of silver
in a reserve estimate. No dedicated silver recovery circuit has been included in the process design, but there are
reasonable expectations that this can be added in the future.
The mineral resources are reported at a cut-off grade to reflect the “reasonable prospects” for
economic extraction. This estimate of the Kitsault molybdenum deposit is based open pit
extraction and Avanti and AMEC has not considered underground mining methods for deeper
portions of the deposit. Although silver has been reported in the mineral resource, it has not been
included in the economic analysis or the reserve statement below. There is sufficient
metallurgical testwork to suggest it could be an economic contributor but this work has not yet
reached the feasibility level of confidence. The recovery of silver remains a potential project
upside contributor, as well as the opportunity of conversion of Inferred to higher confidence
categories through additional drilling. Additional drilling will continue through the 2011 field
season in parallel with Basic and Advanced Engineering studies.
The following Table 2 reflects the sensitivity of the resource estimate to various cut-off grades.
Table 2. Mo Cut-off Grade Sensitivity Analyses within Resource Pit – Measured
and Indicated Resources
Cut-off Tonnes Mo Ag Mo Ag
Mo % (kt) (%) (ppm) (Mlbs) (Moz)
0.010 348,203 0.064 4.09 489.7 45.8
0.015 328,421 0.067 4.13 484.2 43.6
0.021 298,835 0.072 4.2 472.5 40.3
0.025 278,316 0.075 4.26 462.1 38.1
0.030 249,895 0.081 4.34 444.8 34.8
0.035 224,460 0.086 4.4 426.7 31.8
0.040 204,924 0.091 4.47 410.6 29.4
MEASURED & INDICATED RESOURCES
AMEC conducted a complete re-evaluation of all old historic and recent drilling information and
recalculated the mineral resources from first principals. 10 holes from the previous database
were not used in the calculation because of inability to verify core quality (recoveries) and assay
methods.
The Kitsault mine Mineral Reserves have been prepared in accordance with NI 43-101 standards
and CIM Definition Standard (2010). This statement has been prepared by Mr. Ryan W. Ulansky
(P.Eng.) of AMEC, a QP as defined in NI 43-101. These reserves are sufficient for 16 years of
operation at an annual production rate of 40,000 t/d. Mineral Reserves are summarized by
category in Table 3. The notes accompanying Table 3 are an integral part of the Mineral
Reserves and should be read in conjunction with the Mineral Reserve statement.
Table 3. Kitsault Mineral Reserves, Effective Date 8 November, 2010,
Ryan Ulansky, P. Eng. (cut-off 0.026% Mo)
Contained Mo
(MLb)
Proven 69.7 0.097 148.5
Probable 162.8 0.075 267.3
Total Proven and Probable 232.5 0.081 415.8
Category Tonnage (Mt) Mo (%)
Notes:
1. Mineral Reserves are defined within a mine plan, with pit phase designs guided by Lerchs–Grossmann (LG) pit shells,
and reported at a 0.026% Mo cut-off grade, after dilution and mining loss adjustments. The LG shell generation was
performed on measured and indicated materials only, using a molybdenum price of Cdn$13.58/Lb, an average mining
cost of Cdn$1.94/t mined a combined ore based cost of Cdn$5.84/t milled, and a selling cost of $1.24 /lb of Mo sold.
Metallurgical recovery used was a function of the head grade, defined as Recovery =7.5808*Ln (Mo %) +108.63 with a
cap applied at 95%. Overall pit slopes varied from 42 to 48 degrees.
2. Dilution and Mining loss have been accounted for based on a waste neighbour analysis. 1.5Mt of measured and
indicated material above cut-off was routed as waste. 1.9Mt of measured and indicated material below cut-off has been
included as dilution material. An additional 0.2Mt of inferred dilution material with grades set to zero is included in the
mine plan as millfeed.
3. Tonnages are rounded to the nearest 1,000 tonnes, grades are rounded to three decimal places for Mo.
4. Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and
contained metal content
5. Tonnage and grade measurements are in metric units; contained molybdenum is in imperial pounds.
6. The life of mine strip ratio is 0.77
Mining
The single ultimate pit will be mined in six phases, with elevated cut-offs in the early years and
low grade stockpiling. A bulk mining approach has been selected, mining on 10m benches. The
selected mining fleet features one 26 m3 rope shovel, one 28 m3 electric hydraulic shovel, one 18
m3 front end loader, and up to ten 218-tonne haul trucks with related support equipment.
Benches will be drilled with 8 m by 8 m production drill patterns and wall control patterns as
required. The holes will be loaded and shot with a 70% emulsion/30% ANFO blend blasting
agent. Ore control will be based on blasthole samples assayed for molybdenum.
Waste rock will be stored in an expansion to the existing Patsy Waste Management Facility. Low
grade ore will be stockpiled throughout the mine life on the top of the existing Clary Waste
Management Facility. This ore stockpile will be reclaimed and processed during the last two
years of the operation.
The mining production schedule is presented in Table 4.
Table 4 Summarized Production Schedule
Ore to
Mining Ore Direct Low Grade Waste Total Strip Mill Mo Grade
Period to Mill (kt) Stockpile (kt) Mined (kt) Ratio Production (%)
-2 - - - - -
-1 362 8,500 23.48
1 13,836 3,801 19,910 37,547 1.13 14,029 0.104
2 14,600 4,126 22,940 41,666 1.23 14,600 0.106
3 14,600 3,088 21,375 39,063 1.21 14,600 0.114
4 14,600 5,969 13,315 33,884 0.65 14,600 0.088
5 14,600 2,833 15,349 32,782 0.88 14,600 0.096
6 14,600 2,581 14,136 31,317 0.82 14,600 0.096
7 14,600 2,087 12,675 29,362 0.76 14,600 0.089
8 14,600 1,043 12,725 28,368 0.81 14,600 0.082
9 14,600 1,024 11,061 26,685 0.71 14,600 0.08
10 14,600 291 8,125 23,016 0.55 14,600 0.074
11 14,600 - 6,523 21,123 0.45 14,600 0.072
12 14,600 - 5,360 19,960 0.37 14,600 0.068
13 14,600 - 3,657 18,257 0.25 14,600 0.079
14 14,600 - 2,103 16,703 0.14 14,600 0.081
15 1,833 - 475 2,308 0.26 14,600 0.037
16 - - - - 14,245 0.031
Totals 205,469 27,205 178,229 410,903 0.77 232,674 0.081
Note: As part of the dilution / mining loss adjustments, an additional .202 kt of inferred dilution material with grades set to zero
is routed to the mill
Processing
The proposed concentrator in this study is based on an annual resource throughput rate of 14.6
Mt, or 40,000 tpd at 92% plant availability, for the production of a molybdenum concentrate. The
processing plant is expected to operate 24 hours/day, 365 days/year. Over the life of mine, the
processing plant will produce an estimated 326,150 t of molybdenite concentrate grading 52%
Mo. The molybdenum recovery is variable with the average estimated at 89.9%.
The proposed process design is based on historical testwork results, the results from a recent
(2009 and 2010) test program and utilizing plant data from the previous Kitsault concentrator
operations. Plant design, principally the crushing-grinding circuit has been revised to reflect
current technologies using a primary crusher-SAG-ball mill configuration. The process design is
composed of the following unit processes:
• Primary crushing using a gyratory crusher;
• Grinding using a SAG–ball mill-pebble crusher configuration with cyclones for flotation
feed size classification;
• Rougher and scavenger flotation;
• Five stages of cleaner flotation with three stages of regrinding;
• Final molybdenum concentrate thickening, leaching for the removal of contaminants, and
the filtering, drying and packaging of the final concentrate; and
• Flotation to produce desulfidized tailings which will have a portion cycloned for dam
construction and the remainder will be deposited by gravity into an on-site Tailings
Management Facility (TMF). Pyritic tailings will be deposited in a separate submerged cell
in the TMF to prevent oxidation.
Capital Costs
Initial capital costs are estimated at $770 million, which includes $50 million for mobile mining
equipment. Preproduction stripping costs of $13 million are reflected in the initial operating
costs. Life of Mine sustaining mine capital was estimated to be $50 million, which is comprised
mainly of mobile equipment and TMF embankment ongoing construction. All capital costs are
[+/-15%] in this estimate.
The capital costs for the mine, plant and TMF are given in Table 5 below.
Table 5 Capital Cost Summary
Cost
(US$M)
1000 Mining 83.8
2000 Site preparation and roads 35.5
3000 Process facilities 195.1
4000
Tailings management and reclaim
systems 89.8
5000 Utilities ties 39.7
6000 Ancillary buildings and facilities 38.4
Total Direct Costs 482.3
8000 Owner’s costs 21.1
9000 Indirects 266.7
Total Indirect Costs 287.8
Contingency Incl above
Total Capital Costs 770
Area Description
Operating Costs
LOM unit cash operating costs are US$7.64/t milled and operating costs for the processing plant
are estimated at $4.36/t milled (±15% accuracy). General and administrative costs have been
estimated at $1.00/t milled. The Life of Mine unit cash operating costs are also summarized in
Table 6 below:
Table 6. Unit Cash Operating Costs (LOM average – US$)
Area Total
LOM(
00) US$/t Milled US$/lb Mo
Mine Operations 528,038 2.27 1.42
Processing Operations 1,014,030 4.36 2.71
Administration 232,745 1.00 0.63
Total 1,774,813 7.64 4.76
Project Economics
The Feasibility Study economic results utilized assumptions summarized in the Table 7 below:
Table 7 Financial Analysis Parameters
Parameters Inputs
General Assumptions
Mine Life 16 years
Available mill operating days per year 365 days/y
Production Rate (average) 40,000tpd
Average Process Recovery 89.9%
Molybdenum Concentrate - LOM 326,150t
CDN$:US$ exchange rate .92
Market
Discount Rate 8%
Base Case LOM average molybdenum price $16.76/lb
Royalty
Amax Zinc (Newfoundland) Ltd Net profits Interest 9.22%
Alcoa Royalty 1.0%
The FS economic model for the base case in this study assumes a LOM average molybdenum
price of $16.76/lb for revenue purposes, as projected by CPM Group.
The after-tax NPV at an 8% discount rate over the estimated mine life is $798 million. The aftertax
IRR is 26.8%. Payback of the initial capital investment is estimated to occur in 2.6 years after
the start of production
Sensitivity
Sensitivity analysis for key economic parameters is shown in Table 8 prior to tax effects. This
analysis suggests that the project is most sensitive to exchange rates followed by commodity
prices. The Project is least sensitive to operating and capital costs.
Table 8 Base Case Sensitivity to Pre-Tax NPV at 8% Discount Rate
-30% -20% -10% 0% 10% 20% 30%
Exchange rate 2,424 1,922 1,531 1,219 963 749 569
Capital expenditure 1,426 1,357 1,288 1,219 1,150 1,080 1,011
Operating expenditure 1,485 1,396 1,307 1,219 1,130 1,041 953
Metal price 365 650 934 1,219 1,503 1,787 2,071
Factor
SENSITIVITY OF PRE-TAX NPV @ 8% Change in Factor
Development Timetable
A construction schedule has been established that is contingent on the following milestones to
be realized:
Table 9: Project Milestones
Milestone Date
Notice to proceed 1-Jan-12
Begin crushing and screening at pit site 1-Jan-12
Begin earthworks at plant site 2-Mar-12
Begin work at south embankment 1-Apr-12
Construction camp ready for partial occupancy 1-Jun-12
Construction power and communications at plant site compete 30-Jun-12
Commence concrete at plant site 1-July-12
Construction camp ready for full occupancy 30-Sep-12
Truckshop construction complete 30-Oct-13
Complete installation of power and distribution 31-Oct-13
Complete north embankment 31-Oct-13
Begin commissioning 1-Dec-13
Plant ready for start-up 29-Jan-14
Complete south embankment 30-Jan-14
The NI 43-101 Preliminary Feasibility Study, Avanti Mining Inc., Kitsault Molybdenum Property,
British Columbia, Canada was prepared by industry consultants, all of whom are independent of
Avanti Mining Inc. and are QP’s under National Instrument 43-101. The QP’s have reviewed and
approved this news release. The consultants (QP’s) with their responsibilities are as follows:
AMEC Inc. under the direction of Mr. Greg Kulla (P. Geo.) for matters relating to geology and
mineral resource reporting.
AMEC Inc. under the direction of Mr. Ryan W. Ulansky (P.Eng.) for matters and costs relating to
mineral reserve statements, mining, mining capital, and mine operating costs.
AMEC Inc. under the direction of Mr. Tony Lipiec (P.Eng.) for matters relating to the metallurgical
testing review, mineral processing, and process operating costs.
SRK Consulting (Canada) Inc. (SRK Canada) under the direction of Mr. Peter Healey (P.Eng) for
matters and costs relating to mine closure and reclamation.
SRK US under the direction of Mr. Michael Levy (P.E., P.G.) for matters relating to the pit slopes.
Knight Piésold Ltd. (KP) under the direction of Mr. Bruno Borntraeger (P.Eng.) for matters and
costs relating to plant site geotechnical conditions, surface water diversions and the Tailings
Management Facility (TMF).
Avanti Mining Inc. is focused on the development of the past producing Kitsault molybdenum
mine located north of Prince Rupert in British Columbia. Mr. Kenneth Collison, Senior Vice
President of Project Development for the Company and a Qualified Person as defined in NI 43-
101, has reviewed and approved the scientific or technical information in this press release.
For further information, please visit www.avantimining.com, or contact:
Craig J. Nelsen, Chief Executive Officer, 303-565-5491, extension 4471, or
A.J. Ali, Chief Financial Officer, 303-565-5491, extension 4472
ATAC Resources 8.91 g (0.31oz)/t Gold over 32.64 meters (107')
Atac Resources Ltd.
TSX VENTURE: ATC
Dec 15, 2010 08:30 ETATAC Resources Ltd. Intersects 32.64 Metres of 8.91 g/t Gold at the Tiger Zone-Rau Gold Project-Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2010) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report final 2010 drill results from the Tiger Zone on its wholly-owned Rau Gold Project in Central Yukon. The Tiger Zone is located 100 km west of ATAC's recent discovery of Carlin-type mineralization [color=red][/color]at the Osiris gold target within the Nadaleen Trend (see November 30, 2010 news release).
"The Tiger Zone infill drilling is very encouraging as it confirms the high-grade gold mineralization and excellent continuity of the near-surface, blanket-like oxide portion of the deposit," states Graham Downs, ATAC's CEO. "Drill hole density from this season's program will enable the Company to have an independent NI 43-101 compliant resource estimate on the Tiger Zone carried out. Completion of this estimate is anticipated in the third quarter of 2011."
Highlights from the Tiger Zone drilling include:
5.57 g/t gold over 75.76 m starting at 12.02 m in hole Rau-10-94
3.70 g/t gold over 82.30 m starting at 7.01 m in hole Rau-10-124
8.91 g/t gold over 32.64 m starting at 29.87 m in hole Rau-10-132
Significant gold intercepts are tabulated below and a plan map of the drill holes can be viewed on the Company's website.
Hole ID Section East North Dip From (m) To (m) Int. (m) Au (g/t)
Rau-10-94* 10+200NW 528431 7119258 -61 12.02 87.78 75.76 5.57
incl. 14.63 37.49 22.86 13.88
Rau-10-109 10+300NW 528447 7119396 -60 135.60 150.47 14.87 2.35
Rau-10-111 10+300NW 528478 7119422 -60 155.59 186.93 31.34 1.10
Rau-10-112 10+300NW 528478 7119422 -60 189.89 202.47 12.58 1.74
Rau-10-114 10+375NW 528364 7119421 -60 122.13 134.35 12.22 4.96
Rau-10-116 10+275NW 528392 7119314 -60 57.30 104.55 47.25 3.73
incl. 66.45 95.40 28.95 5.71
Rau-10-117 09+965NW 528586 7119073 -60 87.48 114.91 27.43 3.98
Rau-10-118 10+275NW 528416 7119335 -60 106.07 127.41 21.34 2.70
Rau-10-119 09+965NW 528586 7119073 -73 121.01 136.25 15.24 2.05
Rau-10-120 10+225NW 528448 7119296 -60 63.09 131.23 68.14 2.30
incl. 64.62 92.05 27.43 3.78
Rau-10-121 10+225NW 528425 7119276 -60 78.64 87.78 9.14 2.83
Rau-10-122 10+325NW 528359 7119352 -60 52.73 95.40 42.67 3.42
Rau-10-124 09+950NW 528536 7119010 -62 7.01 89.31 82.30 3.70
incl. 7.01 17.80 10.79 7.96
and 32.92 51.21 18.29 9.13
Rau-10-125 10+275NW 528368 7119292 -60 62.48 100.58 38.10 3.83
incl. 62.48 82.29 19.81 7.12
Rau-10-126 09+911NW 528535 7118958 -82 3.96 84.73 80.77 1.48
incl. 17.68 32.92 15.24 4.85
Rau-10-127 10+200NW 528409 7119230 -60 27.43 53.34 25.91 2.64
Rau-10-128 10+325NW 528337 7119333 -60 43.59 71.02 27.43 3.35
Rau-10-129 10+225NW 528402 7119257 -60 30.48 76.90 46.42 3.49
incl. 36.58 67.06 30.48 5.11
Rau-10-130 10+325NW 528311 7119312 -60 11.58 23.77 12.19 1.06
Rau-10-131 10+275NW 528343 7119272 -60 21.39 30.48 9.09 5.91
Rau-10-132 10+250NW 528367 7119259 -60 29.87 62.51 32.64 8.91
incl. 29.87 46.63 16.76 17.07
Tabulated intervals are mineralized lengths of core. Mineralization is strata-controlled and, based on core axis to bedding angles, true widths are estimated to be 70 to 90% of the interval lengths.
A 40,000 m diamond drill program is currently proposed to test gold targets at the Rau Gold Project in 2011. 30,000 m of this drilling will be allocated to the recent Osiris area Carlin-type discoveries within the Nadaleen Trend, where highly anomalous Carlin-type pathfinder element anomalies delineate a 25 km long trend of prospective carbonate stratigraphy. The additional 10,000 m will be dedicated to five satellite oxide gold targets that have been discovered by prospecting and geochemical sampling within a five km distance of the Tiger Zone. Reconnaissance drilling on one of these targets (Cheetah) averaged 1.29 g/t gold over 16.90 m, starting at 104.90 m in hole CH-10-04. The true width of the mineralization in hole CH-10-04 is believed to represent approximately 60% of the reported interval.
A total of four reconnaissance diamond drill holes were also completed at the Ocelot silver/lead/zinc target located 15 km west of the Tiger Zone. All of these holes were collared to test geophysical anomalies near the Ocelot discovery showing. Hole OC-10-01 at the Ocelot target (OC-10-01) averaged 360 g/t silver, 9.83% lead, 25.06% zinc and 48.2 g/t indium over 4.23 m. The true width of the mineralization in hole OC-10-01 is not known at this time given the early stage of exploration. An early 2011 season diamond drill program is contemplated at the Ocelot to explore untested geophysical and geochemical anomalies that extend 1,300 m to the west and 500 m southeast of the discovery showing (see news release dated July 8, 2010 for more information on the Ocelot).
* Gold determinations for Rau-10-94 were carried out by SGS Canada Inc. (SGS) on whole oxide core samples in Lakefield, Ontario. The large diameter PQ-sized core was sent in whole to SGS for metallurgical tests. Samples were first air dried and crushed to nominally pass 1 ¼" mesh. Approximately ¾ of the crushed material was further crushed to 10 mesh, where 50 grams was riffled out for gold analysis. In addition, 20 samples were randomly selected for similar gold analysis. All gold analyses were conducted by 20 gram fire assay to extinction.
Gold determinations for all holes in this release other than Rau-10-94 were carried out at ALS Chemex in North Vancouver, B.C. where samples were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purposes of National Instrument 43-101.
ATAC is a well funded junior mining company focused on precious metals. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC's website at www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
ATAC Resources Ltd.
Graham Downs
CEO
604-687-2522
graham@nordacres.com
www.atacresources.com
Click here to see all recent news from this company
ATC (TSX-V)ATAC Resources 8.91 g (0.31oz)/t Gold over 32.64 meters (107')
Atac Resources Ltd.
TSX VENTURE: ATC
Dec 15, 2010 08:30 ETATAC Resources Ltd. Intersects 32.64 Metres of 8.91 g/t Gold at the Tiger Zone-Rau Gold Project-Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2010) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report final 2010 drill results from the Tiger Zone on its wholly-owned Rau Gold Project in Central Yukon. The Tiger Zone is located 100 km west of ATAC's recent discovery of Carlin-type mineralization at the Osiris gold target within the Nadaleen Trend (see November 30, 2010 news release).
"The Tiger Zone infill drilling is very encouraging as it confirms the high-grade gold mineralization and excellent continuity of the near-surface, blanket-like oxide portion of the deposit," states Graham Downs, ATAC's CEO. "Drill hole density from this season's program will enable the Company to have an independent NI 43-101 compliant resource estimate on the Tiger Zone carried out. Completion of this estimate is anticipated in the third quarter of 2011."
Highlights from the Tiger Zone drilling include:
5.57 g/t gold over 75.76 m starting at 12.02 m in hole Rau-10-94
3.70 g/t gold over 82.30 m starting at 7.01 m in hole Rau-10-124
8.91 g/t gold over 32.64 m starting at 29.87 m in hole Rau-10-132
Significant gold intercepts are tabulated below and a plan map of the drill holes can be viewed on the Company's website.
Hole ID Section East North Dip From (m) To (m) Int. (m) Au (g/t)
Rau-10-94* 10+200NW 528431 7119258 -61 12.02 87.78 75.76 5.57
incl. 14.63 37.49 22.86 13.88
Rau-10-109 10+300NW 528447 7119396 -60 135.60 150.47 14.87 2.35
Rau-10-111 10+300NW 528478 7119422 -60 155.59 186.93 31.34 1.10
Rau-10-112 10+300NW 528478 7119422 -60 189.89 202.47 12.58 1.74
Rau-10-114 10+375NW 528364 7119421 -60 122.13 134.35 12.22 4.96
Rau-10-116 10+275NW 528392 7119314 -60 57.30 104.55 47.25 3.73
incl. 66.45 95.40 28.95 5.71
Rau-10-117 09+965NW 528586 7119073 -60 87.48 114.91 27.43 3.98
Rau-10-118 10+275NW 528416 7119335 -60 106.07 127.41 21.34 2.70
Rau-10-119 09+965NW 528586 7119073 -73 121.01 136.25 15.24 2.05
Rau-10-120 10+225NW 528448 7119296 -60 63.09 131.23 68.14 2.30
incl. 64.62 92.05 27.43 3.78
Rau-10-121 10+225NW 528425 7119276 -60 78.64 87.78 9.14 2.83
Rau-10-122 10+325NW 528359 7119352 -60 52.73 95.40 42.67 3.42
Rau-10-124 09+950NW 528536 7119010 -62 7.01 89.31 82.30 3.70
incl. 7.01 17.80 10.79 7.96
and 32.92 51.21 18.29 9.13
Rau-10-125 10+275NW 528368 7119292 -60 62.48 100.58 38.10 3.83
incl. 62.48 82.29 19.81 7.12
Rau-10-126 09+911NW 528535 7118958 -82 3.96 84.73 80.77 1.48
incl. 17.68 32.92 15.24 4.85
Rau-10-127 10+200NW 528409 7119230 -60 27.43 53.34 25.91 2.64
Rau-10-128 10+325NW 528337 7119333 -60 43.59 71.02 27.43 3.35
Rau-10-129 10+225NW 528402 7119257 -60 30.48 76.90 46.42 3.49
incl. 36.58 67.06 30.48 5.11
Rau-10-130 10+325NW 528311 7119312 -60 11.58 23.77 12.19 1.06
Rau-10-131 10+275NW 528343 7119272 -60 21.39 30.48 9.09 5.91
Rau-10-132 10+250NW 528367 7119259 -60 29.87 62.51 32.64 8.91
incl. 29.87 46.63 16.76 17.07
Tabulated intervals are mineralized lengths of core. Mineralization is strata-controlled and, based on core axis to bedding angles, true widths are estimated to be 70 to 90% of the interval lengths.
A 40,000 m diamond drill program is currently proposed to test gold targets at the Rau Gold Project in 2011. 30,000 m of this drilling will be allocated to the recent Osiris area Carlin-type discoveries within the Nadaleen Trend, where highly anomalous Carlin-type pathfinder element anomalies delineate a 25 km long trend of prospective carbonate stratigraphy. The additional 10,000 m will be dedicated to five satellite oxide gold targets that have been discovered by prospecting and geochemical sampling within a five km distance of the Tiger Zone. Reconnaissance drilling on one of these targets (Cheetah) averaged 1.29 g/t gold over 16.90 m, starting at 104.90 m in hole CH-10-04. The true width of the mineralization in hole CH-10-04 is believed to represent approximately 60% of the reported interval.
A total of four reconnaissance diamond drill holes were also completed at the Ocelot silver/lead/zinc target located 15 km west of the Tiger Zone. All of these holes were collared to test geophysical anomalies near the Ocelot discovery showing. Hole OC-10-01 at the Ocelot target (OC-10-01) averaged 360 g/t silver, 9.83% lead, 25.06% zinc and 48.2 g/t indium over 4.23 m. The true width of the mineralization in hole OC-10-01 is not known at this time given the early stage of exploration. An early 2011 season diamond drill program is contemplated at the Ocelot to explore untested geophysical and geochemical anomalies that extend 1,300 m to the west and 500 m southeast of the discovery showing (see news release dated July 8, 2010 for more information on the Ocelot).
* Gold determinations for Rau-10-94 were carried out by SGS Canada Inc. (SGS) on whole oxide core samples in Lakefield, Ontario. The large diameter PQ-sized core was sent in whole to SGS for metallurgical tests. Samples were first air dried and crushed to nominally pass 1 ¼" mesh. Approximately ¾ of the crushed material was further crushed to 10 mesh, where 50 grams was riffled out for gold analysis. In addition, 20 samples were randomly selected for similar gold analysis. All gold analyses were conducted by 20 gram fire assay to extinction.
Gold determinations for all holes in this release other than Rau-10-94 were carried out at ALS Chemex in North Vancouver, B.C. where samples were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
The technical information in this news release has been reviewed by Robert C. Carne, M.Sc., P.Geo., a qualified person for the purposes of National Instrument 43-101.
ATAC is a well funded junior mining company focused on precious metals. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC's website at www.atacresources.com.
On behalf of the Board,
Graham Downs, CEO
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
ATAC Resources Ltd.
Graham Downs
CEO
604-687-2522
graham@nordacres.com
www.atacresources.com
Click here to see all recent news from this company
Pussim, you might also be interested in Silvermex Resources- if you are not already familiar with it...Bruce Bragganolo was the CEO I believe before he decided to devote all of his energies towards TMM. They currently have a fantastic board of directors which reads like a Who's Who of the Silver Majors. Recently underwent a merger with Genco Resources. Stock had a nice gain today but there is still plenty of upside potential. I think it can be a multi-bagger. I should disclose that I originally bought in at $0.21 US and have not taken any off the table. In fact I recently picked up an additional 2000 shares at $0.88 for my TFSA.
I am also holding all of my originally shares of TMM, originally purchased at $0.40 US, added to my position at $1.25, and then picked up an additional 2000 shares at $1.80 2 weeks ago (was going to sell these for a quick buck, but may hold longer term).
And if you are interested at another silver play (in Mexico) have a look at Kootenay Gold. They have a flagship property whose resource will likely triple in size once the 2011 drilling has been completed. Aditionally they have 6 JV projects on the go (Canada and Mexico)...always a good thing when one is a junior and spending OPM (other peoples money)....low float (less than 50 million) and Sprott recently took part in a PP.
Cheers, Luker
BTW good chance that TMM leaps from the Venture to the TSX within the next 1-2 weeks.