The greatest bull market in Gold in the history of man is before us but 99% of investors will be in the breadline before it's all over
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We have a cup forming on the daily volume chart and the daily price chart?
Millrock Announces Drill Results and Further Drilling Plans, San Jose and Dry Mountain Copper Porphyry Project, Safford District, Southeast Arizona
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/17/12 -- Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock" or the "Company") announced results of recent drilling at its San Jose project located in the Safford District of southeast Arizona. Four drill holes were completed by Millrock with funding provided by Inmet Mining Corporation ("Inmet"). Inmet has the option to earn a 70% interest in the project. Also, Millrock and Inmet announced that they will proceed with an additional drill program on the project later in 2012.
The holes in the most recent program were drilled in the northern part of Millrock's San Jose property and targeted anomalies detected by airborne ZTEM geophysical methods. Weak mineralization was identified in one hole, and porphyry-style alteration was observed in two other holes. Geological observations indicate proximity to a porphyry deposit. Millrock and its partner Inmet have agreed to carry out further drilling to test magnetic anomalies in proximity to known porphyry mineralization and anomalous geochemical conditions. The program will consist of four holes totalling approximately 4,300 m of drilling (one hole will be drilled on the adjacent Dry Mountain claim block which is also subject to the agreement with Inmet). Down-hole geophysical surveys will be carried out if warranted. Additional geological and geochemical work will precede drilling which is anticipated to commence in the summer of 2012.
Following is a brief summary of the recent drill program results:
Hole J-1004 (vertical, total depth = 1,446.9 m) was drilled, in part, as a deep test of the San Jose deposit in an area highlighted by a conductive geophysical feature. The hole traversed 460 meters of intrusive dacite and tonalite showing intense phyllic alteration along with local zones of anomalous copper mineralization. Skarn mineralization containing pyrite and small amounts of sulfide copper minerals was developed near the bottom of the hole in marble adjacent to the intrusive rocks.
Hole J-1005 (vertical, total depth = 300 m) was drilled as a potential pre-collar on a geophysical feature but was abandoned. No mineralization was encountered.
Hole J-1006 (vertical, total depth = 751.9 m) was sited to test a conductive geophysical feature 4,500 meters south of the San Jose deposit but encountered no significant mineralization.
Hole J-1007 (vertical, total depth = 1,336.7 m) was drilled 2,800 meters northeast of the San Jose deposit on the flank of another large geophysical anomaly. The intrusive rocks intersected showed phyllic and propylitic alteration with the development of pyrite but no significant copper values.
The technical information in this news release was reviewed by Gregory Beischer, Millrock's President and CEO, a Qualified Person as defined in NI 43-101.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class gold and copper deposits in mineral rich Alaska and Arizona, Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk and attendant shareholder dilution taken on by most exploration companies. Millrock currently has twelve active exploration projects, eight gold-copper properties in Alaska, and four porphyry copper prospects in Arizona. With funding primarily coming from its joint venture partners, Millrock plans to carry out exploration programs with a total value of more than US$10 million in 2012. Business partners of Millrock include some of the leading names in the mining industry: Kinross, Teck, Vale, Inmet and Altius, as well as junior explorer Crescent Resources.
REPORTS 43 METER GRAPHITE BEARING ZONE AT ALEXANDER RIVER.
Kent Exploration Inc. (KEX: TSX.V), (the "Company" or "Kent") reports the presence of significant graphitic intervals in drill core at its Alexander River Project in the Reefton goldfield, South Island, New Zealand. ("NZ"). The graphite is of a soft silvery-grey nature and is present as graphitic schist in carbonaceous parts of a greywacke sequence (Greenland Group) and as associated small veins along minor faults.
During our 2010 and 2011 work programs, the Company conducted an IP survey, followed up by a diamond drill program, on our Alexander River Gold Project in New Zealand. In four diamond drill holes, AX002, AX003, AX005 and AX009, over a strike length of approximately 1 kilometer, graphite is variably present in the drill core. In drill hole AX005, a 43 meter graphitic interval is present from 97 meters to 140 meters. In drill hole AX002, a 34 meter graphitic interval is present from 107 meters to 131 meters. In drill hole AX009, graphite was present intermittently from 128 meters to 145 meters and from 206 meters to 217 meters down hole, while in AX003 variable graphite was present intermittently between 173 meters to 210 meters down hole.
Some of the IP anomalism is likely attributable to the graphite. Only moderately anomalous zones of the IP anomalies were drilled and the stronger anomalous IP zones below and parallel to the historic gold workings have the potential to contain more concentrated graphite. Depending on the quality, graphite can be economic with grades as low as 2 - 3%.
Due to short supply, graphite is rapidly becoming a strategic material. The United States Geological Survey (USGS) in its most recent pricing survey notes that Graphite prices for 2011 ranged from US$299/ton for amorphous graphite to US$2,070 per ton for flake, lump and chip graphite. For higher purity graphite, prices range up to US$3,000 per ton.
The Company President & CEO, Graeme O'Neill, comments "During our gold exploration programs we continue to discover industrial minerals on our gold projects. Our barite project, and now our bentonite project, both bring us the potential to establish near term cash flow. Any positive cash flow will allow us to reduce future dilution and fund our gold exploration with its attendant upside".
Worldwide there is a strong association between metalliferous deposits and graphitic occurrences. Graphite acts as a reducing agent that causes precipitation of the gold. The gold is commonly found in quartz veins where they cross cut the graphitic zones.
At the historic Alexander River gold mine, historic reports identify approximately 41,000 ounces of lode gold as being mined from 47,000 tons of ore. The total strike length of the mineralized zone at Alexander is approximately 2.5 kilometers and in the mid eighties, as reported in filings with NZ Petroleum and Minerals, a historic potential resource of 4 million tons grading 5+ g/t gold was reportedly identified over a strike length of 1.2 kilometers for a potential 643,000 ounces of gold. Follow up sampling of the historic trenches and adits conducted by the Company essentially confirmed the historic grades. The recent diamond drilling program has identified an additional gold bearing zone parallel to, and approximately 300 feet to the north of, the main Alexander River gold bearing zone.
The acquisitions take time. Be patient and buy the dips...
There is no one on this board that has ever been an official employee of ICTY and that is straight from the top. Although there is one who has made many claims I was told they simply aren't true. Now who is telling the truth? He said, she said is not my thing so I'll let them fight it out.
Some work was done in an un-official capacity by this poster for ICTY but from what I was told this will no longer be the case.
Just so everyone is clear on that subject... This is what I was told and unless it is released in a PR do not believe anything from anybody about anything.
I'm perfectly happy with 2%-3% per day. Let's keep it up.
Tethys Petroleum Limited: First Oil Sales Through Kazakh Oil Terminal
http://www.theenergyreport.com/pub/qmdata/19032
Energy Fuels purchases all Denison's US assets... The trend is now up
http://www.theenergyreport.com/pub/qmdata/19097
This is the short term plan, pay careful attention to the next to last sentence because this will be the big news to come...
There is value here it just will take time.
China Minerals Announces $3 Million Summer 2012 Exploraion Program
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2012) - China Minerals Mining Corporation ("China Minerals" or the "Company") (TSX VENTURE:CMV)(PINKSHEETS:HWTHF) is pleased to announce an upcoming $3 million dollar exploration program that is planned for its Cassiar area properties, which will be implemented by Equity Exploration Consultants Ltd. ("Equity Exploration") of Vancouver, B.C.
The exploration budget is planned to be divided evenly between the Taurus and Table Mountain properties, both of which contain resources prepared in accordance with National Instrument 43-101 ("NI 43-101") in the categories summarized below. The current program budget has utilized conservative cost estimates and may be expandable beyond the 10,000 metres of drilling that is suggested here.
The Cassiar Gold project is 100% owned by the Company through a subsidiary, and comprises the Taurus gold deposit, the Table Mountain gold mine, and nearly 60,000 hectares of contiguous prospective exploration properties. Cassiar encompasses an entire, easily road accessible orogenic gold district in northern British Columbia which has classic greenstone belt geology, numerous exploration targets and open areas of mineralization in known zones. Exploration is planned to comprise at least 10,000 metres of drilling at several target areas, as well as ongoing target evaluation through re-evaluation of historical drill core, outcrops, and previous geophysical and geochemical data.
Taurus Property
The Taurus property comprises northern portions of the Cassiar district and contains the Taurus gold deposit ("Taurus"). Taurus hosts an inferred resource of 1.06 million ounces of gold comprising of 33.1 million tonnes at an average capped grade of 0.99 g/t Au using a cut-off grade of 0.50 g/t Au. The resource is supported by a technical report titled, "Updated Resource Report on the Taurus Project - Liard Mining District, B.C.", dated March 11, 2009 and prepared by Thomas C. Stubens and Marinus Andre de Ruijter of Wardrop Engineering Inc., which was filed at www.sedar.com on March 18, 2009. A feasibility study has not been completed on the Taurus resource and there is no certainty the disclosed targets will be reached or that the proposed operations will be economically viable.
Taurus was explored by previous operators with the objective of identifying potential for a combination large tonnage open pit, and high grade underground mine. Mineralization is open in many directions and contains the potential for higher grade areas internal to the lower grade resource that comprise steeply dipping northwest-trending shear vein and steeply dipping east trending extension vein systems in mafic volcanic rocks. Approximately 5,000 metres of drilling is planned to test (a) areas adjacent to higher grade portions of mineralized zones internal to the deposit but where drilling is too widely spaced to establish its continuity, (b) targets that are down-dip of well-defined, shallow mineralized zones, and (c) stepout drill holes which will test lateral continuity of mineralized zones into untested areas outside of the resource. Numerous areas of open mineralization are present in the deposit area, including previous intersections of 3.05 g/t Au over 25.45 m and 2.68 g/t Au over 25.05 m in drill holes T95-13 and 07TC-07, respectively, in the Taurus West zone, and 36.34 g/t Au over 5.36 m in drill hole TA-0914 in the Sable area, which are open laterally.
Taurus also includes several additional targets identified as high priority for further evaluation and follow-up drilling. At Wings Canyon, an intense vein system lies within a broad, 0.5 km wide alteration zone which has so far returned multiple 0.5 to 3 g/t Au grab samples in outcrop, and at the Newcoast vein system, several drilling intercepts were obtained along strike, including 8.90 g/t Au over 1.8 m and 1.04 g/t Au over 28.35 m in a vein system that is parallel to the Table Mountain veins.
Table Mountain Property
The Table Mountain property ("Table Mountain") contains the Main (formerly Erickson), Bain and Cusac gold mines which are past producing underground high grade mines in southern parts of the Cassiar district which historically have produced approximately 315,000 ounces of gold. A permitted 270 tonne per day gravity/flotation mill, power plant, assay lab and tailing impoundment facility are owned by the Company and located on the project, and were put under care and maintenance by the previous owners in October 2007.
Table Mountain contains several areas hosting resources prepared in accordance with NI 43-101, which are supported by a technical report (the "Table Mountain Report") dated May 18, 2010, titled, "Technical Report on the Table Mountain Property, Liard Mining District, British Columbia", and prepared by Clifford A. Pearson, P. Geo., and Finley J. Bakker, P. Geo., which was filed at www.sedar.com on May 26, 2010. Resources occur principally in the Bain and Cusac mine areas along the Eileen and Bain vein systems, and include an indicated resource of 21,471 tonnes at an uncut grade of 18.02 g/t Au and additional inferred resource of 65,757 tonnes at an uncut grade of 24.30 g/t Au. Additional resources occur in the Main mine, mainly in the Bear vein system. Although no feasibility study has been completed, these resources are largely accessible by modern, recently rehabilitated underground ramp development which extends to within several tens of meters of the vein systems in the Bain and Cusac workings, and which is linked by road to the Company's milling facility.
Exploration in 2012 at Table Mountain is planned to further test the known resource areas through a combination of infill drilling in areas of inferred resources, and testing for extensions and parallel adjacent veins that have been intersected by isolated previous drilling intercepts. Adjacent targets to Bain and Cusac for example include the New Target, MGH, Lily and Hot vein systems, which contain previous intercepts of similar grades and widths to the resource areas but which are open in many areas laterally and down dip. Vein systems in the Table Mountain area show predictable structural control along second order shear zones which splay off faulted mafic volcanic-ultramafic contacts, and drilling is also proposed to follow up such target areas. These additional targets include the Sky vein system, which occurs along a several kilometer offset portion of the mafic volcanic contact, of which only a short strike length has been tested, including intercepts of 5.93 g/t Au over 1.25 m which are open laterally or down dip. Ongoing geological evaluation and modeling will be utilized to refine and identify additional targets.
Exploration timeline
Exploration is planned to commence on site in early June, 2012 and utilize at least two drill rigs. Underground drilling on the Table Mountain project and the potential for use of reverse circulation drilling for some of the Taurus infill drilling to increase overall meters drilled at lower cost are being considered. Further updates on the planning for the exploration and development of the Table Mountain Gold Mine and the Taurus Gold Project will be announced as information is made available.
The Company also continues to evaluate acquisition opportunities.
Technical aspects of this news release have been reviewed by board advisor David Rhys, P. Geo., and by Darcy Baker, P. Geo., of Equity Exploration, who are Qualified Persons as defined by National Instrument 43-101.
Sorry, but I don't say one thing and do another but nice try...
No, but after leaving a number with one of the CPA's in the office I received a call an hour later. I discussed many things with him and clarified a few things I found out through my own DD.
I have not sold the rest of my shares yet and am waiting for an introduction to the principle parties involved and some information I was promised; of course, I've been promised this information before but found out the person who promised has no ability to deliver.
The office situation I understand, although I find it a little deceitful, and is not a deal killer but the forth coming meet and info if not fulfilled soon will be.
Consolidated Financial Statements of December 31, 2011 and 2010
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=78461
No problem...
Yup, you know all about me loco... Got me all figured out... That's what I always bring to a board.
What makes you even think I'm writing about you? Now all of a sudden you want to have a conversation?
I could design those web sites in a day at most. I've also found many things since those days which just open up more questions. But I'm glad that you're happy with your investment. Good for you... I never said I wasn't I'm just very concerned about the lack of real information.
If you don't want to know what I find ignore me.
All I want is the truth, not hype or conjecture or opinions. I live here so I will go check it out. Never can have too much truth.
Will I guess you can do just a little DD and see what kind of a poster I am. Am I a Basher? A Cheerleader? Or am I just someone who tries to find the truth?
I will get pics and any and all info I can get and will post.
Well, I've been looking into this deal and think I will take a drive to Lake Mary on Monday (I live in Orlando) and see what's up with the corporate office. As far as I can tell the websites for these companies are generic at best and there is no substantial info on any of them. The building on the Pembleton Minerals web site is not the building at 30 Skyline Dr #200.
The biggest cheerleader on this board turned out to be a fraud.
I hope I'm wrong on all accounts. I do agree though that the chart looks promising...
First Oil Sales Through Kazakh Oil Terminal
AKTOBE, KAZAKHSTAN - Tethys Petroleum, an oil and gas exploration and production company focused on Central Asia with activities currently in the Republics of Kazakhstan, Tajikistan, and Uzbekistan, announced it has completed the first shipment of commercial oil production through its Aral Oil Terminal (the “AOT”) at Shalkar - a purpose built oil storage and rail loading facility to connect the Company’s Doris oilfield to the Kazakh rail system.
Highlights
AOT key points:
• Enable an initial doubling of production to approximately 4,000 bopd
• Increase efficiency, reduce transportation costs, resulting in a higher realised oil price
• Phase 2 to provide additional capacity to further increase production to 5,000-6,000 bopd in H2 2012
AOT is owned and operated jointly through a 50:50 joint venture by Tethys and its Kazakh oil trading partner’s company, Olisol Investment Ltd. It is located approximately 230kms from the Doris oil field, significantly reducing the distance oil is currently trucked by road from the field. The opening of AOT will allow the Company to initially double production to approximately 4,000 bopd due to a halving of the road trucking distance.
Furthermore, whilst the current rail loading point at Emba experiences bottlenecks due to overuse by many different companies; AOT will be dedicated solely to Tethys oil sales.
In addition, a long-term contract has been signed with Kazakh railways to allocate up to 13,500 bpd of railcar capacity to AOT giving significant flexibility for the future.
To date, over 13,000 bopd have been tested from exploration and appraisal wells in and around the Doris accumulation and it is believed that a sustainable production level of 5– 6,000 bopd can realistically be achieved from these wells. Once the Phase 2 of AOT has been completed, plans will be implemented to increase production up to this level in H2 2012.
Production from future wells will be put through the terminal including any production realised from the next appraisal/exploration well, AKD07, which is planned to spud this summer. The AKD07 well will be drilled to the south-east of the original AKD01 discovery well targeting 3P reserves at the Cretaceous Aptian sand level in what is believed to be a channel sand system, whilst simultaneously targeting an exciting exploration prospect (named "Dyna") that has been identified on the new seismic data from a bright amplitude anomaly at a slightly shallower level which is interpreted to be part of a different, larger sand fan system. The prospective resource for this and other prospects will be disclosed after the completion of a new independent Kazakhstan Resource Report, which is expected in Q2 2012.
The first phase (Phase 1) of three planned phases of construction on the Aral Oil Terminal in 2012 is now complete. These three phases comprise:
Phase 1 - Completed
The Phase 1 facility has a loading capacity of 4,200 bopd and a storage capacity of 1,300 barrels (“bbls”). Under Phase 1 operations, the terminal will have the ability to unload 10 road tankers and to simultaneously load 5 rail tankers.
Phase 2 - Estimated Completion: H2 2012
The Phase 2 facility will have a loading capacity of 6,300 bopd and a storage capacity of 12,580 bbls. Under Phase 2 operations, the terminal will have the ability to unload 10 road tankers and to simultaneously load 5 rail tankers but with the additional storage capacity increasing the terminal’s throughput.
During Phase 2 operations the facility will become operational 24 hours a day. Further enhancements during Phase 2 operations include oil and water metering systems and a heating capability for winter operations. All process equipment will be automated during Phase 2 operations.
Phase 3-
On completion of Phase 3, the facility will have an estimated loading capacity of 12,000 bopd and a storage capacity of 125,800 bbls of crude oil, plus an additional 12,580 bbl storage for refined products. Under Phase 3 operations, the terminal will have the ability to unload 10 road tankers and to simultaneously load 10 rail tankers.
The additional rail loading capacity under Phase 3 operations will be achieved via the construction of a second rail loading rack, adjacent to the first. Under Phase 3 operations, the facility will incorporate an electrical dehydrator for the commercial treatment of crude oil and will also have the ability to receive and store refined products (principally diesel and gasoline), which can be used to service the Company’s drilling operations and/or can be sold locally. In addition it will be able to act as a shipment terminal for equipment to be moved to and from the Doris oil field and surrounding operations.
Dr. David Robson, CEO and President of Tethys, said:
“The first shipment of Doris crude oil through the Aral Oil Terminal is a milestone event for the Company enabling higher production levels, which will significantly transform the cash flow of the Company. We look forward to further drilling success this year and to steadily increasing the throughput of the terminal.
“I would like to thank our staff and our partners for their hard work in extremely difficult weather conditions in completing the terminal and bringing on-stream these higher production levels.”
Bravo Gold to Change Name to Homestake Resource Corporation (HSR) and Complete Share Consolidation on April 16, 2012
Bravo Gold Corp. (TSX.V - BVG) (“Bravo” or the “Company”) announces that the TSX Venture
Exchange has approved the Company’s share consolidation on the basis of one (1) post-consolidation
common share for every ten (10) pre-consolidation Common Shares. The TSX Venture Exchange has
also approved a corporate name change to “Homestake Resource Corporation” and its ticker symbol
to “HSR”. Commencing on April 16, 2012, the Company’s common shares will trade on a post-
consolidation basis under its new name Homestake Resource Corporation, trading symbol HSR.
"Our new corporate name and ticker symbol will emphasize the Company’s major asset, the Homestake Ridge
property, and better reflect the growing importance of silver, copper, lead, and zinc in addition to gold being
discovered at the Company’s Homestake and Kinskuch properties," said Joe Kizis, President of Bravo Gold
Corp. "And with these corporate changes, we look forward to continuing to expand the resource base at our
Homestake Ridge and Kinskuch properties to become the next major gold-silver district in British Columbia."
The company plans an aggressive 2012 exploration and development program on the Homestake Ridge
and Kinskuch properties located in northwestern British Columbia that will concentrate on the drill
delineation of the newly discovered South Reef deposit at Homestake Ridge and extensive drilling of a
potential mineral deposit at Kinskuch discovered in the 2011 exploration season. In addition, the
program will include additional exploration drilling, ground geophysics and further evaluation of
several other encouraging exploration targets. A defined resource at South Reef and possibly at
Kinskuch, together with any new discoveries, will be accretive to the NI43-101 compliant resources at
the two deposits already discovered and delineated by Bravo at the Homestake Ridge property, which
should significantly enhance the potential development of this strongly mineralized district.
Letters of transmittal with respect to the consolidation will be mailed out to the Company's
shareholders after the effective date. Shareholders will be required to send their certificates
representing pre-consolidation common shares with a properly executed letter of transmittal to the
Company's transfer agent, Computershare Investor Services Inc. Additional copies of the letter of
transmittal can be obtained by contacting Computershare Investor Services Inc., Shareholders Services
Department, at 1-800-564-6253. All shareholders who duly complete letters of transmittal and submit
their pre-consolidation common share certificates to Computershare will receive new share certificates
1
representing the number of post-consolidation common shares to which they are entitled to pursuant
to the terms of the consolidation. No fractional shares will be issued and any fraction of a share will be
rounded down to the nearest whole number of common shares. The Company currently has
215,411,092 common shares issued and outstanding. Upon completion of the share consolidation, there
will be 21,541,109 Common Shares issued and outstanding.
The Company's current outstanding warrants and stock options will be adjusted on the same basis as
the share consolidation. There are currently 36,953,889 Share Purchase Warrants and 3,924,504 Agent’s
Options (the “Warrants”) issued and outstanding with exercise prices ranging from $0.10 to $0.48 per
share and which are exercisable in September 2012, June and December 2013 and February 2014. Upon
completion of the share consolidation there will be an aggregate of 4,087,839 Warrants with exercise
40,000-m drill program underway at Eau Claire
Clearwater Project
Quartz-Tourmaline veins with visible gold intersected north of resource limit
Eastmain Resources Inc. (TSX:ER) announces that a 40,000-metre drill program is underway on its wholly-owned Clearwater Project, located in James Bay Quebec. The objectives of the program are to continue to expand the limits of the Eau Claire gold deposit and test new prospective resource targets. 50% of this year's drilling will be focused on increasing the size of high-grade Measured and Indicated gold resources in the 450 and 850 West zones, which may be amenable to extraction by open pit methods.
Drilling and trenching in 2011 resulted in a 550-metre-long expansion of a near-surface, gold-bearing vein system at the 850 West Zone, potentially adding to previously defined Open Pit resources (see website for rendering of 3D Leapfrog Model). Estimated potential Open Pit resources within the Eau Claire 450 West Zone, as at April 2011, contained 2,729,000 tonnes of Measured and Indicated resources at an average grade of 5.15 grams per tonne gold containing 452,000 ounces gold (502,000 ounces gold at 5.72 grams per tonne uncapped) and 1,398,000 tonnes Inferred Open Pit resources at an average grade of 2.56 grams per tonne gold containing 115,000 ounces gold (127,000 ounces gold at 2.83 grams per tonne uncapped). Drilling below the 450 West Zone also outlined 130,000 ounces of gold as Measured and Indicated Underground resources at an average grade of 6.46 grams per tonne gold and 905,000 ounces gold as Inferred Underground resources at an average grade of 7.18 grams per tonne gold (April 26, 2011 news release). The current resource, which does not include any drilling post 2009, does not contain the 100 gold-bearing intercepts from the 850 West Zone drilling or high-grade results reported from the RC Soccer Field trench in 2011.
2012 drilling is currently testing the northern limits of the 450 West Zone, where a stacked series of quartz-tourmaline veins has been intersected north of the estimated open pit resource. ER12-353, the third hole of this season's program, has intersected visible gold (VG) at a depth of 138.6 metres. The VG occurs within an interval containing 25 quartz tourmaline veins, ranging from 0.1 to 6.5 metres in thickness, extending from surface to 150-metres down the hole.
The 2012 exploration campaign will also include drill testing and trenching of high-priority targets lateral to the Eau Claire gold deposit, as well as property-scale surface exploration in an effort to discover additional deposits elsewhere on the project.
Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
CBM Asia Announces First Coalbed Methane Exploration Test Well Completed at Kutai West PSC, Kalimantan, Indonesia
VANCOUVER, BRITISH COLUMBIA, April 12, 2012 - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX.V: TCF) (US: CBMDF) (FWB: IY2) has been informed by the operator Newton Energy Capital Limited that the first coalbed methane exploration test well (“CBM-KW-02”) has been completed at the Kutai West Coalbed Methane Production Sharing Contract (“Kutai West CBM PSC”) block, located in East Kalimantan, Indonesia. CBM Asia holds an 18% working interest in the Kutai West CBM PSC.
Well logs indicate approximately 25 meters of coal were penetrated in the target Balikpapan Formation. Preliminary gas content values range from 75 to 175 scf/t (as received basis). Permeability averaged approximately 5 to 10 millidarcies. Final laboratory results are pending.
The drilling rig has moved off location and is now drilling a second core well location north of the initial location (well spud March 15, 2012 and is currently drilling ahead at 600 meters). CBM Asia notes that VICO Indonesia, operated by BP and ENI, as well as the Indonesian government have reported that commercial CBM production began in March 2011 from the adjoining Sanga- Sanga PSC and is being exported from the Bontang LNG facility to North Asian consumers.
“We are very excited about the results which are in line with expectations,” says Alan Charuk CBM Asia Development Corp.’s President and CEO. “The test results are supported by Dart Energy’s exploration results at the Sangatta West PSC to the north and VICO’s Sanga-Sanga PSC which lies adjacent to the east. The early success at Kutai West represents CBM Asia’s second consecutive exploration success, after the Sekayu PSC which is expected to begin drilling its first pilot program in the near future.”
NioGold Purchases Republic Goldfields Property
Langley, BC – April 12, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX: NOXGF) (“NioGold” or the “Company”) is pleased to announce that it has entered into a Property Acquisition and Joint Venture Agreement (the "Agreement") dated April 11, 2012, with Republic Goldfields Inc. ("RGF") to acquire an 85% interest in RGF's Malartic property (the "Property"). The Property consists of six mining claims and one mining concession covering 126.53 hectares, located approximately 20km west of Val-d'Or, Quebec. The Property is contiguous to the Company’s Malartic Block and Marban Block properties.
The purchase price for the acquisition is $100,000 cash and 1,000,000 common shares. Upon delivery of the purchase price, the Agreement provides for the formation of a joint venture for the further exploration and development of the Property, with Niogold and RGF having an 85% and 15% initial participating interest, respectively. In the event that a party's participating interest is diluted to 10% or less, its participating interest will be converted to a 2% NSR royalty, of which one-half (1% NSR interest) can be repurchased by the other party for $750,000. Subject to certain conditions, NioGold also has the option to purchase all or any part of RGF's participating interest in excess of 10% at a price equal to $5,000 per 1% participating interest. The Agreement remains subject to the approval of the TSX Venture Exchange. The securities issued will be subject to a 4 months hold period.
The acquisition of RGF’s Malartic mining titles completes the consolidation of the historic Malartic Hygrade property, part of the Company’s large Malartic gold camp land holdings. The Malartic Hygrade property covers the northwest extent of geological units and deformation corridors that host the gold deposits on the adjoining Marban Block property currently being evaluated by NioGold and Aurizon Mines Ltd. The historic Malartic Hygrade property encompasses the former Malartic Hygrade mine (production: 23,223 t @ 22.67 g/t Au for 17,000 ounces gold, Trudeau and Raymond, 1982 ) and the Orion Zone #8 (production: 118,922 t @ 5.82 g/t Au for 22,000 ounces gold, Trudeau and Raymond, 1982) as well as the depth extent of the former Camflo mine, where Barrick Gold Corporation produced 1.7 million ounces of gold (8.86 Mt @ 5.8 g/t Au) between 1965 and 1992. Of those ounces, 180,000 were extracted from the Malartic Hygrade property in the lower levels of the mine. Historic records of the Camflo mine indicate that a mineral inventory of 68,000 ounces of gold remains un-mined (LaBreque and Violette, 2011). This mineral inventory is considered historical in nature; has not been validated by the Company’s Qualified Person or an independent Qualified Person; is not compliant with National Instrument 43-101 and should not be relied upon.
Numerous identified gold occurrences on the property remain to be evaluated.
Yan Ducharme, M.Sc., P.Geo. (OGQ), the Company’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101, has reviewed the content of this news release.
NioGold Mining Corporation – « On Canada’s Golden Highway »
NioGold Mining Corporation is a mineral exploration company focused on gold. The Company’s flagship projects are located in the Cadillac - Malartic - Val-d’Or region of the prolific Abitibi gold mining district Quebec. The Cadillac, Malartic and Val-d’Or mining camps have produced over 45 million ounces of gold since the 1930’s and presently encompasses six producing gold mines including Osisko Mining’s new Canadian Malartic operations. NioGold’s land holdings within the Abitibi presently cover 126km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team are overseeing the advancement of these projects, with current drill programs underway targeting expansion of the resource base.
NioGold invites you to visit the company website at www.niogold.com.
This rally was on the back of more QE rumors so I wouldn't get too excited yet. We know it's QE to infinity but not yet so we may see Gold fall again and with it BRD.
Kent Exploration Acquires 100% Interest in Ivanhoe Creek Bentonite Claims.
Kent Exploration Inc. KEX: TSX.V, (the "Company" or "Kent") reports that it has entered into an agreement with Senator Minerals Inc ("Senator") to acquire Senator's 50% interest in and to the Ivanhoe Creek Bentonite claims, in Elko County, Nevada (the "Agreement").
The terms of the Agreement require the Company to pay Senator $100 (paid) and reserve to Senator a 3% Production Royalty. With the acquisition of Senator's 50% interest in the Bentonite Claims, Kent now holds a 100% interest in and to the claims, subject to a reservation in favor of RMIC Gold of a 1% net smelter return royalty (NSR Royalty) and the aforementioned 3% Production Royalty reserved for Senator.
The Ivanhoe Creek Bentonite deposit, that has a reported historic 2 million plus tons of high-quality bentonite, was discovered in 1978 when minor production was undertaken. According to the historic mine application report, the property was drilled to a depth of up to 75 feet with a number of the deeper drill holes bottoming in high quality bentonite. The bentonite deposit is drill permitted for an approximately 50 hole drill program to confirm the reported 2 million ton historic deposit. The Company intends, subject to financing, to commence operations on the bentonite claims at the earliest opportunity.
Graeme O'Neill, the Company President & CEO comments: "In these very difficult times we must ensure we are doing everything we can to provide the Company with a sound underpinning for the future. While industrial minerals do not normally excite the investor's imagination, the barite project, and now the bentonite project, provide us with the ability to provide near term cash flow, and any positive cash flow we create should provide additional shareholder confidence in the Company, reduce future dilution and provide ongoing funding for our substantial New Zealand gold projects".
Bentonite production in North America averaged 4.6 million metric tons over the past five years and sale prices averaged US$55.40 per metric ton over the same period. Bentonite is an industrial mineral used for, among other things, diamond drilling, heap leach pads and tailings ponds, as well as kitty litter, iron ore pelletizing, etc. By acquiring a 100% interest in the bentonite claims, the Company has acquired the potential to create an additional source of cash flow.
Mining the bentonite would typically consist of stripping between six inches to two feet of altered surface material to expose the high quality bentonite, then mining and field drying the bentonite for sale, either as a raw product, or with beneficiation, as a finished product.
The Bentonite surface claims are situated directly over the Company's Ivanhoe Creek Gold Project lode claims and readily accessible from the mine access road to the currently producing Hollister gold mine. The Company's Ivanhoe Creek gold lode claims are on strike between two large gold mines, Great Basin Gold's 2 million plus ounce Hollister Gold Mine and Newmont's highly prolific and low cost 5 million ounce Midas gold mine. Ivanhoe Creek is approximately 5 km northwest from the Hollister mine and 16 km southeast from Midas and is highly prospective for a Midas style gold deposit.
Due to a significant workload created by current market conditions, Mr. Michael England has regretfully resigned as a director of the Company. The directors of the Company take this opportunity to thank Mr. England for his long service as a director.
In its furtherance of preparing the Company as a producer, the Company has accepted the resignation of its CFO Robin Peterson and has appointed Giusseppe Gallo, who has significant experience in transitioning companies, as the Company's Chief Financial Officer.
Puma Exploration begins drilling at Nicholas-Denys
Rimouski, April 10, 2012 – Puma Exploration (PUM-TSXV) is pleased to annnouce that the summer exploration program at Nicholas-Denys has started and is ahead of schedule due to unexpected warmer spring weather conditions. Line cutting and wood cutting are completed and drilling site preparation is under way and the drill rig will be on site by the end of the week.
A drilling program will start with a first phase of 1000 meters to test the new targets at the Haché lens. The silver and gold oreshoot will be tested at depth in accordance with the new discovery model developed during the 2011 summer program as well as the surface lateral extensions towards the Henry East Lens. Previous drilling at Haché intercepted the gold and silver oreshoot down to a depth of 75 meters with grades of 477 g/t Ag and 1.9 g/t Au over 6.0 meters, 720 g/t Ag and 3.8 g/t Au over 8.4 meters and 265 g/t Ag and 1.0 g/t Au over 11.9 meters. Drilling will then be done on the Dante and the Henry East Lenses following the major stripping program.
Line cutting is complete from the Shaft lens to the Great Northern lens for a total strike length of 6.0 km. A total of 100 km of lines cover the 3 main structures hosting, so far, 16 silver and gold showings and deposits. A magnetic ground survey is underway over this new grid and should be completed shortly. This survey will be useful to identify new surface mineralization as well as the tranverse faults and structures which have a major role in the gold and silver enrichments at Nicholas-Denys.
Wood cutting has also been completed in the Dante Lens area (see press release 18/01/2012) to extend the stripping area for an additional 200 meters to the east and to the west and also over the Henry East Lens (see press release 06/02/2012) for an area of 650 meters long by 100 meters wide. A major stripping program will be completed on these areas to identify, locate and sample the thicker portion of the mineralized areas and then, the main gold and silver oreshoots will be drilled.
2011 year end results and announces increases in revenues, netbacks and oil reserves
http://www.prnewswire.com/news-releases/petromagdalena-files-2011-year-end-results-and-announces-increases-in-revenues-netbacks-and-oil-reserves-146785285.html
It's like I tell my clients. It is painful and lonely being right when the herd is running against you but the cliff is still there and when it's all over you will be the only one standing.
I don't know when it will turn for us but it will and it will be explosive. IMO
MILLROCK PLANS DRILLING FOR TWO ALASKA PROJECTS, HUMBLE PROJECT, SOUTHWEST ALASKA AND COUNCIL PROJECT, SEWARD PENINSULA
VANCOUVER, BRITISH COLUMBIA, April 10, 2012 - Millrock Resources Inc. (MRO - TSX:V) ("Millrock" or the "Company") announced that it has confirmed programs and budgets with its funding partner for two drilling programs in Alaska in 2012. The first drilling program will be done at the Humble project in southwest Alaska, and the second will be done at the Council project on the Seward Peninsula in western Alaska.
The Humble project targets copper-gold porphyry deposits and is situated approximately 120 km to the southwest of the Pebble deposit in a similar geological setting. Five holes totaling 1,000 m are planned, and drilling is scheduled to begin in April 2012. The drilling targets conductive zones with coincident multi-element soil geochemical anomalies possibly indicative of a buried porphyry deposit.
The Council project targets sediment-hosted vein gold deposits. The planned program for this project consists of six holes totaling approximately 1,000 m, and drilling is scheduled to commence in July 2012. The drill holes will test a seven km long gold – arsenic soil anomaly that overlies a regional structural feature. At places the soil anomaly is up to 400 m in width.
Both exploration programs may be expanded if initial results are positive.
The two projects are the subject of option to joint venture agreements with Kinross Gold Corporation (KGC - NYSE) (“Kinross”), and both are presently still in the option phase. The work is funded by Kinross and carried out by Millrock. Under the terms of the agreements, Kinross may earn up to a 75% interest in the projects.
The technical information in this news release was reviewed by Gregory Beischer, Millrock's President and CEO, a Qualified Person as defined in NI 43-101.
I do like managements approach. Very shareholder friendly...
Colossus Minerals Announces Significant Achievement In Metallurgical Recoveries Of Platinum Group Metals From Serra Pelada
I guess there always has to be buyers and sellers but to sell at these prices makes no sense to this investor.
http://www.colossusminerals.com/English/Investors/News-Releases/News-Releases-Details/2012/Colossus-Minerals-Announces-Significant-Achievement-in-Metallurgical-Recoveries-of-Platinum-Group-Metals-From-Serra-Pelada112/default.aspx
Brigus reports 26.83 grams per tonne Gold over 15.50 meters at the Contact Zone on the Black Fox Complex.
We need more good news and the trend will change.
We are getting closer and closer...
Victoria Gold Enters Into Agreement to Sell the Cove Property in Nevada
TORONTO, ONTARIO--(Marketwire - April 10, 2012) - Victoria Gold Corp. (TSX VENTURE:VIT) ("Victoria" or the "Company") is pleased to announce that it has accepted an offer from Premier Gold Mines Limited ("Premier"), for its interest in the Cove McCoy Property (the "Property"), located in Lander County, Nevada. The Property consists of claims and leasehold interests which the Company is leasing or sub-leasing from Newmont USA Limited, a subsidiary of Newmont Mining Corporation ("Newmont"), through a Minerals Lease and Sublease agreement (the "Agreement") dated June 15, 2006 as well as unpatented claims which are held by a wholly owned subsidiary of Victoria.
"Victoria continues to execute on the options available to further bolster our working capital position while illustrating the importance we are placing on dilution control." commented John McConnell, President & CEO. "The funds from the Cove sale are slated to be used for construction activities at the Eagle Gold Project, which is expected to be Yukon's next operating gold mine."
Total consideration of up to Cdn $48,000,000 shall be satisfied by the delivery to Victoria of:
Cdn $8,000,000 paid to Victoria on the closing of the transaction;
Cdn $10,000,000 paid to Victoria on or before the date that is 12 months after the closing of the transaction;
Cdn $10,000,000 paid to Victoria on or before the date that is 24 months after the closing of the transaction;
Cdn $20,000,000, payable in four installments of Cdn $5,000,000 each upon the cumulative production, to Premier's account, of 250,000, 500,000, 750,000 and 1,000,000 troy ounces of gold from the Project.
Up to 50% of payments in a), b), and c) above may be satisfied through the issuance of common shares of Premier, at Premier's option, with the remainder payable in cash. The payments in d) above may be satisfied through cash payments or the issuance of common shares of Premier, at Premier's option.
The closing of the transaction is expected to occur in May 2012.
Avion Reports Q1-2012 Record Gold Production of 26,260 Ounces
Apr 09, 2012
TORONTO, ONTARIO--(Marketwire - April 9, 2012) - Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the "Company") is pleased to announce first quarter 2012 production of approximately 26,256 ounces of gold from its Tabakoto/Segala operations in Mali, West Africa. This has set a record for the Company for amount of gold produced in one quarter.
During the first quarter of 2012, the Company milled 225,700 tonnes of ore at an average grade of 4.02 g/t Au, with a 90.2% mill recovery.
Record Mill Production in March, 2012
Avion produced 11,887 ounces of gold in March, 2012, after refinery adjustments. This is the highest amount achieved by the Company in a one month period, and is attributable to the start of underground mine production at its Tabakoto deposit earlier in the year.
Commenting on the first quarter 2012 production numbers, Avion's Chief Operating Officer, Mr. Andrew Bradfield, stated: "Record production in March was achieved despite a military coup in the last week of the month. The strong results are a testament to the hard work and dedication of the management team at the mine site, and the higher than expected grades and lower dilution at the Tabakoto underground mine."
Avion Hires Vice President Operations
The Company is also pleased to announce that it has hired Richard Allan, P.Eng., as Vice President Operations. Mr. Allan brings over 34 years of mining experience to the Company, and was recently the Senior Director - Mining of Barrick Gold Corporation.
Military Coup Situation
Under intense pressure from the nations bordering Mali, the military leaders who seized control of the country in a coup last month signed an accord, agreeing late Friday to return the country to constitutional rule. As such, the recent sanctions imposed by neighboring West African countries have been lifted and borders have been re-opened. Management views these developments as positive for the Company as it will allow production and operations to continue as normal in Mali. However, Avion's mill expansion may be impacted as Malian custom and import offices will take some time to become fully operational again and allow materials required to complete the mill expansion to enter the country. The length of the delay is unknown at this time.
Andrew Bradfield, P.Eng., the Chief Operating Officer of the Company, and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
ARCHEAN STAR ANNOUCES 0.5 METERS OF 42.8 G/T GOLD AT GNAWEEDA:
Archean Star Resources Inc. (TSX.V: ASP) (the "Company" or "Archean") announces a 0.5 meter gold intersection grading 42.8 g/t Au in diamond drill hole TB008 that has recently been completed at the Turnberry gold prospect at the Gnaweeda Gold Project approximately 35 km northeast of Meekatharra, Western Australia.
Diamond drill hole TB008 encountered visible gold approximately 270 meters below surface and approximately 230 meters below a 5 meter intersection of 13.49 g/t Au (incl. 1 meter at 20.23 g/t Au) in hole GNRC008. TB008 is located approximately 100 meters north of diamond drill hole TB003, that intersected 3 meters of 8.27 g/t Au and hole GNRC009 that intersected 4 meters at 17.77 g/t Au (incl. 1 meter at 59.27 g/t Au). In addition TB008 is approximately 50 meters north of TB006 that encountered multiple gold intersections within an approximately 41 meter interval, with the highest grade reported being 2 meters at 10.58 g/t gold. To view the map, please go to http://www.archeanstar.com/images/2012Southernhotzone.jpg.
The highest gold grade reported in hole TB008 was a 0.5 meter intersection from 337 to 337.5 meters of 42.8 g/t Au. Due to the presence of visible gold, the assay procedure used was a Metallic Screen Fire Assay on a 1 kg sample. Selected results are tabulated below:
Hole TB008
Intersection in meters Width Average Grade g/t Au
102.5 - 106.5 3 1.45
126.0 - 131.0 5 0.72
135.0 - 136.0 2 0.68
177.0 - 180.0 3 1.25
182.0 - 184.0 2 0.89
203.0 - 204.0 1 1.34
278.0 - 280.0 2 2.15
295.0 - 296.0 1 3.79
337.0 - 337.5 0.5 42.80
Energy Fuels' CEO Issues Update to Shareholders
TORONTO, ONTARIO--(Marketwire - April 3, 2012) - Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") today issued a letter updating shareholders after the recent merger with Titan Uranium Inc. The letter from CEO Stephen Antony is presented in its entirety below:
Dear Shareholders,
With the close of our recent merger with Titan Uranium, we felt this was the ideal opportunity for Energy Fuels to welcome new shareholders from Titan and to update our existing shareholders.
This merger marks Energy Fuels' entry into an exclusive club that includes the largest uranium companies in the United States. In fact, the combined company's new asset portfolio catapults Energy Fuels from 13th to 3rd among companies with NI 43-101 compliant resources in the United States. Energy Fuels, as the surviving company of the merger, will remain focused on developing and expanding U.S. uranium and vanadium assets and building the first new U.S. uranium mill in over 30 years. It is also important to note that 82% of the company's resources are in four development stage projects that are either fully-permitted (the Whirlwind and Energy Queen Mines) or in the midst of permitting (Sheep Mountain and Sage Plain).
This strategic merger was clearly an important milestone for Energy Fuels, as it nearly tripled the company's U.S. based measured and indicated uranium assets to 39.6 lbs. U3O8. This includes 18.4 million lbs. of mineral reserves. In addition, the company was already one of the nation's largest holders of vanadium resources at 34.8 million lbs. V2O5.1
Last month, a new Preliminary Feasibility Study (PFS) was completed on the Sheep Mountain Project which Energy Fuels acquired in the merger. The PFS shows robust project economics with Internal Rates of Return up to 42%. In addition, a significant portion of the mineral reserve is accessible through open pit mining techniques, resulting in competitive operating expenses of $32.31 per pound of uranium.
The license to build the Piñon Ridge Mill was granted in 2011 and remains in full force while we work with the State of Colorado to defend it from a legal challenge by a non-governmental organization. Once built, the mill will be the first uranium mill constructed in the United States in over 30 years. The mill is being designed to recover both uranium and vanadium from the regions' many uranium and vanadium mines. It is initially being permitted to process 500 tons of ore per day, but is designed for expansion to 1,000 tons per day through a future permitting effort, if market conditions warrant. The mill will utilize state of the art technology to ensure that both the public and the environment are protected. In addition, the commissioning of the mill and opening of local mines will dramatically improve the economy of the area through the creation of direct and indirect jobs. As a result, the project enjoys overwhelming support from local communities.
With fully permitted mines, other key projects in permitting, a mill license, and an experienced management team executing an aggressive western United States consolidation program, Energy Fuels is well positioned to capitalize on the resurgence of nuclear power around the World. The lessons of the Fukushima disaster are being implemented and most nations have reiterated their commitment to nuclear energy as a clean, affordable, and carbon-free source of base-load electricity. In fact, according to the Nuclear Energy Institute, there are 65 nuclear reactors under construction around the World, 28 of which are in China, 10 in Russia, and 7 in India. And, in the last two months, the U.S. Nuclear Regulatory Commission approved licenses to construct and operate two new nuclear reactors in Georgia and two in South Carolina - the first approvals in the U.S. in over 30 years. Energy Fuels believes the security of supply for uranium will become very important for Americans and domestic production will be highly valued.
Finally, Energy Fuels' merger with Titan brings the expertise of several key players in the Uranium sector including: Sheldon Inwentash, a key figure in the Canadian mining capital markets space; Richard Patricio, VP legal & Corporate Affairs for Pinetree Capital and Mega Uranium; and Larry Goldberg, a chartered accountant and former CFO for Pinetree Capital and Mega Uranium. These gentlemen complement our already experienced and accomplished Board of Directors.
In closing, I wish to reiterate that Energy Fuels is making spectacular strides in achieving our goal of becoming the pre-eminent American conventional uranium producer. More information is available on Energy Fuels' website (www.energyfuels.com).
Best regards,
Stephen P. Antony
President & Chief Executive Officer
1 Indicated Mineral Resource at the Sheep Mountain Project of 12,895,000 tons at an average grade of 0.12% eU 3 O 8 (30,285,000 lbs. eU 3 O 8 ). This figure includes Probable Mineral Reserve of 7,453,000 tons at an average grade of 0.123% eU 3 O 8 (18,365,000 lbs. eU 3 O 8 ).
Measured & Indicated Mineral Resource on Energy Fuels' Colorado Plateau properties of 1,951,486 tons at an average grade of 0.24% eU 3 O 8 and 0.89% V 2 O 5 (9,371,821 lbs. eU 3 O 8 and 34,862,116 lbs. V 2 O 5 ).