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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Too much fear in the sector currently. Gold bugs have lost their faith... too bad for them and awesome for those of us who are still acquiring great mining companies for pennies. :)
I guess if you keep saying it long enough someone will believe you as for me I'll keep flipping until I can't.
Buying Stupidity
Bob Moriarty
Archives
Jul 12, 2012
The easiest way to make money when buying gold juniors is to buy stupidity. When someone is determined to behave in a stupid manner, allow them. And you capitalize on their stupidity.
I wrote about Evolving Gold (EVG-V) and Gold Standard Ventures (GSV-V) in December. Evolving Gold was $.275 and Gold Standard was $.72. I made the comment that “They may have already hit it and won't know it until assays come back.”
Gold Standard Ventures had hit it and none of us knew it at the time. The stock went from $.72 in late December to $1.20 in late February and upon the announcement of a major find, rocketed higher to $3.03 in early May.
On July 11, Evolving Gold announced drill results that are among the highest grade and length intercepts in the Carlin Trend, ever. From the press release it’s a little difficult to determine exactly what they have but I found out the broader intercept is 87 meters at about 6 gpt gold. If you take the 6 high grade intercepts and do a weighted average you come out to an aggregate 31.6 meters at 15.85 gpt gold.
The stock went down on the news. 25% down. From $.27 on the open to $.20. Someone wanted out and was willing to sell at any price.
I love stupidity; I get to deal with so much of it. I went and bought a bunch of shares at $.21. I know a deal when I see it.
In the Carlin Trend, Evolving Gold and Gold Standard Ventures are right next to each other. GSV has good management and a great Carlin GEO in the name of Dave Mathewson. EVG has great technical people; Quinton Hennigh and I were talking about the Carlin when I first met him almost 4 years ago. The Carlin can be a money pit; the holes are deep and expensive. You may have to drill for years before making a major find but the deposits are giant.
GSV has great drill intercepts and a major find; EVG has a better set of intercepts and a major find. GSV has a $160 million dollar market cap and at $.20 EVG has a market cap of $28 million. Go figure.
EVG also has the Rattlesnake project in Wyoming with an implied value of $100 million based on their deal with Agnico Eagle. The deal got dropped recently but it wasn’t a project issue, it was a cash issue on the part of Agnico Eagle. EVG wisely refused to change the terms of the deal and have regained control of the project.
The cancellation of the deal between Agnico Eagle and EVG did create problems for Evolving Gold. EVG was counting on having some money put into the Rattlesnake Project by Agnico Eagle this year. But if GSV’s Carlin project is worth $160 million and EVG’s Rattlesnake project is worth $100 million, the value of a Carlin major discovery and Rattlesnake combined has to be a hell of a lot higher than a market cap of $28 million.
Investing at a profit is a lot simpler than most of the “Gurus” want to admit. Buy low, sell high.
Evolving Gold is low.
Great news but a terrible market to release it into...
Looks like we have awakened from our slumber...
Yes, us goldbugs will look like idiots... until we don't. :)
Sceptics await 11 million ounce Barkerville Gold approved NI43-101 resource statement
http://www.mineweb.com/mineweb/view/mineweb/en/page103118?oid=154906&sn=Detail&pid=102055
AMERIX REPORTS ADDITIONAL GOLD RESULTS FROM DRILLING
AT LIMÃO PROPERTY IN BRAZIL
July 10, 2012 News Release 2012 - 11
Toronto, Canada: (TSX Venture: APM) Amerix Precious Metals Corp. (‘Amerix’ or ‘the Company’) is pleased to announce results for three additional holes at the Company’s 100% owned Limão Gold Property, located in the Tapajós Gold Province, Pará State, Brazil. The location of these holes and the previously reported holes LDH-01 and LDH-02 is presented in Figure 1. Hole LDH-03, drilled at an Azimuth of 77 degrees and an angle of -48 degrees, intersected 23.6 metres grading 6.35 grams gold per tonne, from 25.95 to 49.55 metres down hole. This hole was drilled from the same drill platform as previously reported Hole LDH-02 (News Release 2012-09) and is represented on the Section A – A’. Assay results are presented in Table 1. Hole LDH-04, drilled at an Azimuth of 10 degrees and an angle of -72 degrees intersected 9.89 meters grading 8.2 grams gold per tonne, from 34.31 metres to 44.2 metres down hole. This hole was drilled from the same platform as previously reported Hole LDH-01 and is represented on Section B – B’. Assay results are presented in Table 1. These two holes were drilled to verify the vertical continuity of the gold mineralization reported earlier in holes LDH-01 and LDH-02.
To view Figure 1 Image, please copy and paste URL below into new browser:
http://www.rmcommunicationsinc.com/snapmail/img/file20120710082529.pdf
To view Sections A – A’ and B – B’ Images, please copy and paste the URL below into new browser:
http://www.rmcommunicationsinc.com/snapmail/img/file20120710120804.doc
To view Table 1 Image, please copy and paste the URL below into new browser:
http://www.rmcommunicationsinc.com/snapmail/img/file20120710145235.doc
The gold mineralization intersected in these holes occurs primarily in potassic altered and pyrite rich syenite intrusive rocks. The Company’s geologists now recognize the presence of north-northeast trending, steeply dipping dykes that crosscut the zone of gold mineralization. It is interpreted that Hole LDH-05, collared to the north of the Limão Pit and drilled at an Azimuth of 203 degrees and at an angle of – 60 degrees, drilled through such a dyke as it crossed the zone of gold mineralization. Similar dykes were encountered in LDH-03. No significant gold was intersected in LDH-05 and the potassic altered and pyrite rich syenite intrusive rocks were not encountered. This dyke has been schematically presented on the Section A – A’.
The Company moved the drill to the South Grid to test the gold targets identified in earlier News Release 2012-03. Several holes will be completed on 3 separate drill sections to test high grade gold mineralization occurring in veins that had been exploited by artisanal miners. After these holes are completed the drill will return to the Limão Pit area to finish the current drill program. Amerix will be posting results from the drill program at the Company’s website (www.amerixcorp.com). A photo gallery of the Limão Gold Property is also available at the website that includes photographs of the drill core.
Diamond drilling is accompanied by a quality assurance and quality control program that is managed by Amerix’s geologists and includes industry standard documentation during data collection, reporting, and down hole azimuth and angle surveys. Drill core sample intervals were selected based on geological and mineralogical changes in the rock and averaged near 1-metre sample length within mineralized intervals and the immediate wall rock using sample lengths that ranged from a minimum of 0.5 metres to a maximum of 1.5 metres. NTW size rock drill core was split in half using a diamond saw preserving half of the split core for reference and half to be sent for gold analysis. Standard references, blanks, and quartered drill core duplicates were also inserted into the sample stream prior to transport. All samples were delivered to Acme Laboratories preparation facility in Itaituba, Brazil where the samples were rushed, pulverized, split, and shipped to Acme’s Santiago, Chile laboratory for fire assay gold on a 30 gram split. Samples analyzing greater than 10 grams per tonne gold, or over the fire assay detection limit, were automatically re-analyzed for gold by gravimetric gold analysis. Both Acme Itaituba and Acme Santiago are registered under International Standards Organization’s ISO 9001:2008 quality control program. The Company utilizes a chain of custody program overseen by its geologists concerning sample transport from the Limão property to Acme’s Itaituba preparation facility.
Mr. Ryan Grywul, P. Geo., and Vice President, Corporate Development for Amerix, and a qualified person as defined in National Policy 43-101 is responsible for all technical information contained in this news release.
Just sold 1/4 of my trading shares for a nice chunk-a-change... Thank you RB once again for the tip way back when
AVION REPORTS RECORD GOLD PRODUCTION OF 28,640 OUNCES FOR THE SECOND QUARTER OF 2012
TABAKOTO UNDERGROUND MINE CONTINUES TO OUTPERFORM BUDGET
July 9, 2012 -- Toronto, Ontario -- Avion Gold Corporation (AVR:TSX) (AVGCF: OTCQX) (“Avion” or the “Company”) is pleased to announce record second quarter 2012 production of approximately 28,637 ounces of gold from its Tabakoto operation in Mali, West Africa. The Company has now set two consecutive quarterly records for the amount of gold produced in one quarter with year to date gold production of 54,894 ounces after refinery adjustments. Avion is well on its way to achieving its upgraded production guidance of 95,000 to 102,000 ounces of gold for 2012.
During the second quarter of 2012, the Company milled 191,500 tonnes of ore at an average grade of 5.05 g/t Au, with a 92.5% mill recovery.
Avion's Chief Operating Officer, Mr. Andrew Bradfield, commented on the second quarter 2012: "The Tabakoto Mine has had two consecutive record production quarters that were achieved despite a military coup in the first quarter of 2012, and subsequent destabilization of the Malian government. The Tabakoto underground mine continues to produce higher than expected ore grades with a lower amount of ore dilution at higher processing recoveries than planned, that when combined with good open pit grades resulted in an excellent quarter."
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.
Brigus Gold Meets Q2 Production Target
Date: 07-10-2012
For a complete listing of our press releases, please click here
HALIFAX, Nova Scotia--(BUSINESS WIRE)-- (NYSE MKT: BRD; TSX: BRD) - Brigus Gold Corp. ("Brigus" or the "Company") is pleased to announce that it has met its production guidance for a second consecutive quarter. During the second quarter of 2012, the Company produced 18,254 ounces of gold at an average grade of 3.30 grams per tonne (gpt) and a projected cash cost of between $800 and $825 per ounce. Production at the Company's Black Fox Mine continues to increase as development progresses towards larger ore zones at depth.
Ounces Produced Average Grade
Q1 16,922 3.04
Q2 18,254 3.30
Total 35,176 3.17
2012
Low High Actual
Q1 15,500 17,000 16,922
Q2 18,000 21,000 18,254
Q3 21,500 23,000
Q4 22,000 24,000
Total 77,000 85,000
That is some spread currently .23 on the bid and 1.01 on the ask
Beautiful city, my favorite on the West Coast but bad hockey fans and under achieving team. Hopefully that will change when Luongo goes... the underachieving part
Kauai is my final destination I'm just not ready yet.
Southern Cali boy but I had to move away because the crazy people took over... Miss it but won't move back until it's been cleansed of stupidity.
No hockey no live there...
As long as there is an Ice rink close by I'll live anywhere
Life is great... Boys back at BYU... Wife and me empty nesters and just sold our house so looking for a new adventure... Looking for some retirement funds here...
I sure hope so because my britches is hanging in the wind on this one.
appointment of Mr. Kelly J. Osborne as its Chief Operating Officer (COO). Mr. Osborne is a mining executive with over twenty-eight years of industry experience in the United States and Indonesia with major US based mining companies including Freeport-McMoRan, Vulcan Materials and Stillwater Mining Company.
Prior to his appointment to Duluth Metals, Mr. Osborne was Senior Vice-President, Underground Operations (Indonesia) with Freeport-McMoRan Copper & Gold, and prior to that from 2006 to 2010, Vice-President, Underground Operations (Indonesia). During his tenure with Freeport, Kelly was responsible for operational and capital development for two underground mines, including a multi-billion dollar capital budget for underground mine expansion, a substantial annual operating budget, and led a large multi-national workforce. Prior to Freeport-McMoRan, he was Area Manager with Vulcan Materials Company in the Chicago area, and was responsible for three mining operations producing construction aggregate products. Prior to that, he was Mining Superintendent at the Nye, Montana PGM mine for Stillwater Mining Company; Plant Manager for J.M. Huber Corporation at the Marble Falls, Texas calcium carbonate operation; Buick Mine Captain at the Doe Run Company lead-zinc underground mine; and Mine Planning Engineer at Homestake Mining Company's Lead, South Dakota operations.
Christopher Dundas, CEO & Chairman of Duluth Metals commented, "Kelly Osborne brings to Duluth Metals a unique set of credentials from his senior development and operations background with Freeport-McMoRan in Indonesia. Kelly was leading the development group in moving Grasberg from an open-pit to a large underground operation. With this appointment, Duluth Metals has greatly enhanced its mining and development team."
Vern Baker, President of Duluth Metals, stated, "Kelly Osborne's operational and management expertise in large scale underground mining and capital development will be a major asset to Duluth Metals. Kelly's input on the planning and development of our key asset (a proposed underground copper-nickel-platinum group mining project in Minnesota), as well as his insight on new projects arising from the exploration pipeline will strengthen the company. Kelly's experience in organizational development and in safety, health, and environmental systems will also help move our projects forward."
Mr. Osborne holds a BS Mine Engineering degree from the University of Arizona and belongs to the Society of Mining Engineers as well as the Society of Explosive Engineers. While in charge of operations, Freeport received the NOSA Five Star award for underground operations from 2006 to 2009. Kelly is originally from Minnesota, and is pleased at the opportunity to return and contribute to the state.
Noront Announces Additional Drill Results at McFaulds Lake
TORONTO, ONTARIO--(Marketwire - July 9, 2012) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE:NOT) is pleased to announce drill results from the winter exploration program at its McFaulds Lake Property, James Bay Lowlands, Ontario.
HIGHLIGHTS
AT12
NOT-12-AT12-002 10.3 metres averaging 1.02% Ni, 0.23% Cu, 0.31 g/t Pt and
1.47 g/t Pd;
NOT-12-AT12-003 12.2 metres averaging 0.89% Ni, 0.34% Cu, 0.39 g/t Pt and
2.04 g/t Pd;
TABLE 1
----------------------------------------------------------------------------
HOLE ID FROM TO INTERVAL Ni Cu Pt Pd
(metres) (metres) (metres) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
NOT-12-1G001 356.50 376.00 19.50 0.279 0.028 0.048 0.181
and 410.00 415.50 5.50 0.290 0.005 0.153 0.535
and 453.00 476.90 23.90 0.162 0.050 0.366 0.754
and 519.00 552.00 33.00 0.308 0.014 0.034 0.148
NOT-12-1G002A 390.50 407.40 16.90 0.227 0.055 0.062 0.274
and 469.60 471.77 2.17 0.552 0.059 0.052 0.145
and 553.20 557.50 4.30 0.239 0.006 0.044 0.134
and 615.00 618.00 3.00 0.273 0.007 0.025 0.100
and 839.50 844.00 4.50 0.218 0.000 0.210 0.426
NOT-12-1G003 522.50 527.80 5.30 0.213 0.018 0.073 0.214
and 541.68 549.50 7.82 0.339 0.021 0.085 0.429
including 544.45 545.35 0.90 1.200 0.108 0.301 2.470
and 628.47 663.50 35.03 0.209 0.032 0.174 0.458
including 650.75 666.00 15.25 0.258 0.032 0.183 0.574
----------------------------------------------------------------------------
TABLE 2
----------------------------------------------------------------------------
HOLE ID FROM TO INTERVAL Ni Cu Pt Pd
(metres) (metres) (metres) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
NOT-12-AT12-001 253.00 311.46 58.46 0.228 0.044 0.099 0.327
and 392.70 438.50 45.80 0.435 0.181 0.149 0.584
including 419.80 420.64 0.84 1.030 1.590 0.305 1.820
NOT-12-AT12-002 326.69 344.50 17.81 0.721 0.170 0.243 1.120
including 326.69 337.00 10.31 1.019 0.225 0.306 1.470
including 326.69 332.50 5.81 1.365 0.263 0.324 1.601
and 628.50 633.00 4.50 0.231 0.092 0.057 0.343
NOT-12-AT12-003 318.78 367.00 48.22 0.445 0.135 0.215 0.931
including 318.78 331.00 12.22 0.889 0.343 0.385 2.043
including 337.00 367.00 30.00 0.315 0.074 0.174 0.607
including 343.00 358.00 15.00 0.408 0.099 0.240 0.842
and 410.33 418.00 7.67 0.450 0.168 0.216 0.389
including 410.33 410.86 0.53 2.870 1.510 1.570 2.050
and 561.30 617.00 55.70 0.328 0.104 0.134 0.430
and 648.00 686.00 38.00 0.269 0.046 0.103 0.306
----------------------------------------------------------------------------
I know what I know and I know and state plainly what it won't be and what it might be and let my post speak for itself... Contact me again Jan 01 2013...
Ok, I'm usually a positive person and I post from time to time but I will be the bad guy here and tell all you dreamers that you will not see .25 anytime soon and 100% positive this year. In fact I will say .05 is a stretch but might be possible for a very brief moment if we get a strong run with some very positive news.
I would strongly suggest profits be booked a little at a time once we see .01 as it runs again and if it tests it's 52 week high I would make sure I'm only holding 20% of my shares to sell at .05 if it makes it.
But it is nice to dream...
Well, there is risk everywhere today no matter what country you live in because the world is not becoming more stable but moving towards anarchy which is coming soon to America... it's sad. I'm just trying to find good exploring producers and hope Gold goes where I think it is going. Investors will have no choice but to own these companies because they will be the only companies making profit. Avion is one of those...
Hold on tight will be a bumpy road going forward. :)
Well, at least we are starting to get some volume...
Puma Exploration Drills 6.4 Meters of 446 g/t Ag, 1.5 g/t Au, and 5.8% Zn at Nicholas-Denys Silver Project in New Brunswick
http://tmx.quotemedia.com/article.php?newsid=52516883&qm_symbol=PUM
I told you so... :)
10 million ounces with another 60 - 95 million more possible
http://resourceinvestingnews.com/38962-mining-bc-barkerville-gold-news.html
Nice run so far... I sold 1/2 my shares for a nice 180% gain and will hold on to the rest to see where this goes...
Fortuna Reports High-Grade Gold and Silver Values at Tlacolula, Mexico
Last update: 7/3/2012 7:00:00 AM
VANCOUVER, July 3, 2012 /PRNewswire via COMTEX/ -- Fortuna Silver Mines Inc. (FSM)(CA:FVI) (bvl:FVI) (frankfurt:F4S.F) is pleased to provide an update of Brownfields exploration results at the San Jose Mine in Oaxaca, Mexico and the Caylloma Mine in Arequipa, Peru. Two diamond drill rigs are currently operating at the San Jose Mine and four diamond drill rigs are operating in the Caylloma District. In addition, generative activities have identified significant untested epithermal systems in the Tlacolula area in Oaxaca and in the Cerro Vilafro area at Caylloma.
Dr. Thomas Vehrs, Vice President of Exploration, commented: "The discovery of high-grade gold and silver mineralization at the Tlacolula Project in Mexico is a significant benchmark in our Brownfields exploration program. We are aggressively advancing the project and look forward to the initiation of drill testing of the Tlacolula vein system in mid-July."
San Jose Mine Brownfields Exploration, Oaxaca, Mexico
Tlacolula Vein System
Surface mapping and sampling has identified a large and untested low sulfidation epithermal vein system in the Tlacolula area of central Oaxaca. Fortuna has an option to acquire a 60% interest in the Tlacolula Property from Radius Gold Inc. by making certain cash payments and issuance of shares in the capital stock of Fortuna, and by completing expenditures totaling US$2 million on the property (see Fortuna news release dated Sept. 23, 2009).
Highlights of the surface channel sample results include the following mineralized intervals:
CH 136366:6.30 m averaging 19.34 g/t Au and 986 g/t Ag (open)
CH 135709:9.60 m averaging 0.13 g/t Au and 295 g/t Ag (open)
CH 138105: 3.30 m averaging 0.07 g/t Au and 234 g/t Ag
CH 135862:1.00 m averaging 4.28 g/t Au and 367 g/t Ag
CH 135820:1.50 m averaging 0.52 g/t Au and 561 g/t Ag
CH 138118:9.00 m averaging 0.22 g/t Au and 83 g/t Ag (open)
ANIM021512 4.65 m avg. 121 g/t Ag, 6.35 % Pb and 5.37 % Zn
ANIM022012 5.05 m avg. 106 g/t Ag, 6.90 % Pb and 7.54 % Zn
ANIS022412 6.75 m avg. 78 g/t Ag, 3.20 % Pb and 3.68 % Zn
NANS002012 9.55 m avg. 91 g/t Ag, 5.30 % Pb and 7.62 % Zn
NANS002112 5.20 m avg. 38 g/t Ag, 2.06 % Pb and 5.21 % Zn
Hole_Id From To Interval Ag Au Pb Zn Cu
(m) (m) (m) (g/t) (g/t) (%) (%) (%)
ANIM021512 102.95 107.60 4.65 121 0.14 6.35 5.37 0.32
ANIM021712 73.60 74.50 0.90 19 0.06 0.95 1.71 0.02
ANIM022012 179.80 180.95 1.15 139 0.27 9.15 18.01 0.26
184.00 189.05 5.05 106 0.01 6.90 7.54 0.19
ANIM022112 238.45 238.80 0.35 95 0.01 0.56 0.73 0.11
ANIS022212 209.40 231.20 3.80 67 0.05 2.29 3.75 0.65
ANIS022412 126.40 133.15 6.75 78 0.49 3.20 3.68 0.20
NANS001712 224.90 226.50 1.60 60 0.11 0.50 16.02 0.29
NANS001912 118.50 120.85 2.35 183 0.30 2.77 5.56 2.02
197.15 199.70 2.55 43 0.02 1.54 2.38 0.24
NANS002012 85.20 97.30 12.10 58 0.07 0.47 3.36 0.31
130.80 140.35 9.55 91 0.07 5.30 7.62 0.25
NANS002112 124.90 130.10 5.20 38 0.02 2.06 5.21 0.23
157.20 160.95 3.75 36 0.06 1.56 4.35 0.16
202.15 204.45 2.30 34 6.44 1.14 3.78 0.15
CH 5037150.40 m averaging 3.23 g/t Au and 827 g/t Ag
CH 5037080.40 m averaging 2.14 g/t Au and 2,440 g/t Ag
CH 5037160.95 m averaging 0.83 g/t Au and 459 g/t Ag
CH 5037260.25 m averaging 0.57 g/t Au and 791 g/t Ag
CH 5036150.60 m averaging 0.41 g/t Au and 661 g/t Ag
Nice close...
We should see volume and sp increase going forward... Good news and very timely.
I'm buying into this reaction and then I'll wait and see.
In today's market it's sell every rally and who cares what happens 2 to 5 years down the road... but, to those of us who understand cost-push inflation and where gold is headed we know in 2-5 years any producing gold mine is going to be a lot higher than they are today and when you find a low cost producer you are even increasing your chance of major returns and at today's cost-per-share ABGFF is a no brainer. IMO
Fire River Gold Corp. Accepts Resignations of Senior Management and Board Members
It's about time...
VANCOUVER, June 25, 2012 /PRNewswire via COMTEX/ -- Fire River Gold Corp. [TSXV: FAU | OTCQX: FVGCF | FSE: FWR] (the "Company") today announced that it has accepted the resignations of the following individuals, effective immediately: Richard Goodwin, President and director, Timothy Smith, Vice President and Chief Operating Officer and Board members, Linda Holmes and C. Douglas Lang.
R. David Russell, the Company's Non-Executive Chairman, reports, "We would like to thank Mr. Goodwin and Mr. Smith for their contribution to the Nixon Fork Mine. We also want to thank Ms. Holmes and Mr. Lang for their support to the Board of Directors and wish each of them well in their future endeavours."
The Board of Directors is expected to appoint a new President and Chief Executive Officer this week, followed by several company updates.
On behalf of the Board of Directors,
"R. David Russell"
R. David Russell, Non-Executive Chairman
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. 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. We seek safe harbour.
SOURCE Fire River Gold Corp.
Copyright (C) 2012 PR Newswire. All rights reserved
$34.00 an ounce is what you are paying for gold if you buy EOXFF
Tests Show Recoveries At 96% Zinc, 80% Copper, 75% Lead And 68% Silver
Miramichi, New Brunswick - SLAM Exploration Ltd. (TSXV: SXL) (OTCBB: SLMF) ("SLAM") is pleased to announce results from laboratory flotation tests completed on Nepisiguit A-Zone core samples. The tests were completed by RPC Science & Engineering (“RPC”) of Fredericton, NB and are summarized in a report by RPC titled: “Preliminary Metallurgical Scoping Study - Nepisiguit Drill Core”. The A-Zone is part of SLAM’s wholly-owned Nepisiguit Project where SLAM recently announced a new 3M tonne NI-43-101 compliant inferred resource in New Brunswick.
The RPC tests indicate recoveries of 96% zinc, 80% copper, 75% lead and 68% silver are attainable. The head grade of the test sample was 5.88% zinc, 1.53% lead, 0.43% copper and 52 g/t silver. A total of 9 flotation tests were carried out with a variety of recovery techniques. Results indicate that bulk copper/lead flotation followed by zinc flotation would be the best option for the treatment of the Nepisiguit deposit. This is consistent with other deposits in the Bathurst Mining Camp.
Inferred resources for the A-zone and the C-Zone were estimated by Tetra Tech as reported by SLAM news release on June 5, 2012. The A-Zone is most significant with an Inferred Resource of 2,985,432 tonnes grading 3.13% zinc, 0.81% lead, 0.22% copper and 30.28 g/t silver based on a 1.5% zinc equivalent cut-off. The A-Zone is open at depth and in all directions, located near-surface and thought to be amenable to open-pit mining methods.
Recommendations
RPC recommends further studies to complete the technical feasibility of the Nepisiguit deposit. Tetra Tech has recommended a trenching and drilling program to upgrade and potentially increase the resource. SLAM intends to implement these recommendations and expects to begin an Environmental Impact Assessment process for a potential open pit mining operation.
About Nepisiguit: SLAM’s 100% owned Nepisiguit project comprises 121 claim units covering 2644 hectares located on highway 430 approximately 15 km southwest of the world-class BMS No. 12 mine operated by Xstrata. The deposit is approximately 30 km from the Caribou mill just purchased and being put into production by Trevali. Additional information about Nepisiguit can be viewed on SLAM’s website at http://www.slamresources.com/projects/new-brunswick/nepisiguit/.
Qualifying Statements: The metallurgical tests were conducted at RPC of Fredericton, New Brunswick. Leo Cheung, P.Eng., Senior Chemical Engineer, is the qualified person responsible for the metallurgical testing and results reported herein. The Nepisiguit Inferred Resource figures are derived from a news release on June 5, 2012 by SLAM. Sara Lloyd, P.Geo. and SLAM Project Manager is the Qualified Person who has reviewed and approved any additional technical and scientific disclosure in this news release.
Colossus Drills 3.30 Metres at 54.48 g/t Gold, 0.69 g/t Platinum and 5.42 g/t Palladium in the GT Zone and Successfully Closes the Gap Between the GT and Central Mineralized Zones
http://tmx.quotemedia.com/article.php?newsid=52094112&qm_symbol=CSI