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
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
.75 filled next buy at .70
I'm waiting at .75
CBM Asia Enters Indonesia Coalbed Methane Partnership With Continental Energy Corporation
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2012) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2). CBM Asia is pleased to announce it has entered into a Joint Study and Bid Group agreement with Continental Energy Corporation (OTCBB:CPPXF) to investigate coalbed methane ("CBM") exploration and development opportunities in Indonesia.
Under the agreement, CBM Asia and Continental will jointly and exclusively study selected areas in Indonesia with the objective of identifying geologically favorable areas to be jointly pursued as targets of opportunity for direct acquisition of coalbed methane production sharing contracts ("PSC") offered by the Indonesian government. Acquisitions would be by public tender or direct proposal tender conducted under joint study arrangements.
Successful CBM PSC acquisitions shall be shared by CBM Asia and Continental under a pre-agreed joint operating agreement ("JOA") with participating interest of 75% CBM Asia and 25% Continental. CBM Asia shall act as operator under the JOA and any CBM PSC and pay 100% of the JOA's CBM PSC general and administrative costs. All CBM PSC acquisition costs and other JOA exploration and drilling costs shall be borne by the parties in proportion to their respective JOA participating interests.
"We are very excited having Continental Energy as a partner. Continental has extensive geological knowledge of certain areas of interest to us as well as on-the-ground operating experience," comments Alan Charuk, President and CEO of CBM Asia. "We have identified several areas of interest which we and our new partner will be actively pursuing in the near future."
ANNOUNCES FIRST QUARTER 2012 RESULTS
http://www.comstockmining.com/news/press-releases
Finally some good news. I was trying to add yesterday with a sizable buy but there were no sellers. Armstrong seems to think Gold is headed lower in the short term possibly to $1400. Sinclair thinks he's nuts but I think I'll hold on to some cash just in case. You never know what the Fed is capable of these days.
Peace and prosperity to all
Visible Gold Intersected at Depth in Red Cliff Property Exploration
Vancouver, BC - Decade Resources Ltd. (“Decade”) and Mountain Boy Minerals Ltd. (“Mountain Boy”) are providing an update on the Red Cliff project in Northwestern British Columbia. The joint venture project is owned 65% by Decade and 35% by Mountain Boy. The Red Cliff is a gold/copper property consisting of 8 Crown Granted mineral claims located 25 miles north of the town of Stewart, British Columbia. High gold values are contained within stockwork zones that are composed of stringers of quartz-chalcopyrite-pyrite plus local coarse visible gold in the Upper Montrose zone over a 1 m section. These stringers have an envelope of galena-sphalerite-chalcopyrite stringers that contain local fine grained visible gold. To date, the Companies have identified 3 separate gold bearing zones called the Upper Montrose, Lower Montrose and Waterpump.
Since April 24, the companies have completed 12 holes all designed to test the Lower Montrose zone. Nine were completed along a panel from a pad created along the canyon wall approximately 40 m above the canyon floor and approximately 50 m NE of the exposed Lower Montrose zone. The first 3 holes encountered up to 15 m of stringer quartz-sulphide mineralization with local coarse visible gold in the third hole. See the Company website at www.decaderesources.ca or www. mountainboyminerals.ca. to view the photo of the gold. Holes 4 and 5 indicated that the zone was fault offset to the NE with sulphide mineralization ground up in the fault gouge. Holes 6 to 8 encountered the quartz - sulphide zones. Hole 9 indicated that a dyke had displaced the above mineral zone. The drill has been moved 100 m east to test an indicated zone exposed along the canyon wall that contained 50.39 g/t gold over 0.5 m within a partly exposed zone sampled in previous exploration. Three holes were completed in this location with the last hole being drilled to a depth of 596 m. The first hole deviated to the north and was terminated at 300m. The second hole drilled more southerly was lost in a fault at 480 m but encountered numerous sulphide bearing zones between 320 m to final depth. At approximately 300 m, narrow galena - sphalerite veinlets contain fine visible gold. Five samples taken on a random basis from 5 different sulphide zones at depth were rush assayed in order to guide the drilling of the 3rd hole in this area. Values ranged from a low of 47 ppb to a high of 2.2 g/t Au over 1.83 m with the highest value at the deepest sample site at 407 m. The other 3 samples assayed 0.4 g/t gold. Long sections of sulphide rich core remains to be cut and sampled in this hole. Based on the gold values in hole 11, the last hole on this panel was drilled to 596 m which was the power limitations of the drill. This hole encountered the galena veinlet bearing zone, the sulphide rich sections as seen in hole 11 as well as the depth extension of the Upper Montrose zone.
Drilling is continuing from pads just west of the first panel of holes once space is created. Upon completion of testing of the Lower Montrose zone, the companies plan to drill the Upper Montrose zone located along Lydden Creek.
Unfortunately discovery takes cash and that usually means shareholders suffer from time to time. I really like the management here and the future management waiting to be voted in. I think when Gold and Silver start their next move up we will see some action here. Until then, bouncing around is what we will have. I'll continue to buy on dips and hold for the big payday.
Provides Update on Its Bulgarian Properties
http://www.reuters.com/article/2012/05/07/idUS117990+07-May-2012+MW20120507
NioGold Consolidates 100% Interest in Republic Goldfields Malartic Property
May 3, 2012
Langley, BC -- May 3, 2012 -- NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) (“NioGold” or the “Company”) is pleased to announce that it has consolidated 100% ownership of the Republic Goldfields Malartic Property (the "Property"). NioGold originally acquired an 85% interest in the Property from Republic Goldfields Inc. ("RGF") – see NioGold's news release dated April 12, 2012. Under the terms of the resulting joint venture, NioGold has now acquired the final 15% interest through payment of $25,000 and grant to RGF of a 2% NSR royalty (of which one-half, or a 1% NSR interest, can be repurchased by NioGold for $750,000).
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, and 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.
I have a buy order in at .09 but not executed yet.
I might venture again under .10
Catalyst Copper 2012 Drilling
Trading Symbol: CCY
VANCOUVER, April 30, 2012 /PRNewswire/ - Catalyst Copper Corp. (the "Company" or "Catalyst") is pleased to announce results from the first five (5) diamond drill holes from its 2012 program at the La Verde copper porphyry project in Michoacán state, Mexico.
The 2012 exploration program is intended to complete all requirements (US$10 million in accumulated expenditures, 200 kilometers of Geophysics (IP) and 30,000 metres of diamond drilling) to earn a 60% interest in the La Verde Project, under its option Agreement with the Mexican subsidiary of Teck Resources Limited.
The released holes locations are indicated on the attached map (which includes historic and 2011 drill locations) and the significant results for these holes are included below.
TABLE 1. La Verde 2012 Assay Results
Drill Hole From To Length Cu% Au g/t Ag g/t Mo% Location
LV12-037 118.7 125.0 6.3 0.42 0.160 1.0 0.001 East Hill
140.0 148.0 8.0 0.25 0.196 2.0 0.001
LV12-038 276.5 303.7 27.2 0.58 0.275 4.5 0.001 East Hill
333.2 336.7 3.5 0.60 0.127 10.5 0.001
396.7 461.3 64.6 0.37 0.121 3.9 0.004
498.1 675.3 177.2 0.54 0.041 5.3 0.006
LV12-039 236.8 250.8 14.0 0.35 0.028 1.7 0.001 East Hill
332.0 346.0 14.0 0.23 0.008 3.4 0.001
376.0 603.1 226.9 0.67 0.076 5.7 0.003
Incl. 411.0 584.4 173.4 0.81 0.075 6.2 0.003
661.6 673.4 11.8 0.93 0.009 6.1 0.009
LV12-040 69.3 74.9 5.6 1.66 0.009 3.8 0.001 West Hill
181.9 216.0 34.1 0.86 0.003 1.7 0.001
231.2 236.7 5.5 0.83 0.001 3.1 0.001
364.6 372.4 7.8 1.48 0.006 1.8 0.001
LV12-041 69.0 76.5 7.5 0.42 0.011 2.7 0.007 West Hill
93.0 106.0 13.0 0.60 0.011 2.1 0.003
185.0 193.0 8.0 1.32 0.005 6.9 0.002
223.5 227.3 3.8 0.58 0.005 3.7 0.001
249.6 259.0 9.4 0.27 0.005 1.4 0.003
284.5 311.4 26.9 0.29 0.012 1.4 0.002
337.3 408.0 70.7 0.86 0.003 2.8 0.001
419.0 438.0 19.0 1.95 0.003 5.4 0.001
461.6 477.5 15.9 0.61 0.003 2.0 0.001
487.0 496.0 9.0 1.90 0.180 5.4 0.001
533.6 539.0 5.4 0.64 0.001 1.6 0.001
549.0 553.7 4.7 0.61 0.001 1.3 0.001
605.2 640.1 34.9 0.60 0.002 1.2 0.001
Colt Resources intersects 5.42g/t Au over 23.58m, including 11.60g/t Au over 7.58m at its Boa Fé Gold Project, Southern Portugal
http://www.marketwatch.com/story/colt-resources-intersects-542gt-au-over-2358m-including-1160gt-au-over-758m-at-its-boa-fé-gold-project-southern-portugal-2012-04-30-9700
Awesome. Thanks
Second Exploration Well Encounters 32 Meters of Net Coal
At Kutai West PSC
VANCOUVER, BRITISH COLUMBIA, April 27, 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 second exploration well (CBM-KW-01) at the Kutai West Coalbed Methane Production Sharing Contract (“Kutai West CBM PSC”) block has reached target depth of 900 meters. Approximately 32 meters of net coal were encountered. CBM Asia holds an 18% working interest in the Kutai West CBM PSC, which is located in East Kalimantan, Indonesia, close to the Bontang LNG export facility.
“We are encouraged by the results of the CBM-KW-O1 well so far,” comments Alan Charuk, President and CEO of CBM Asia. “The net coal thickness of 32 meters is 28% thicker than net coal thickness of 25 meters found at the CBM-KW-02 well which we recently released results on. We look forward to receiving gas content results from core samples over the upcoming weeks.”
The drilling rig is expected to be demobilized from the CBM-KW-01 site once permeability tests have been completed. The rig will then move to the third location to drill the CBM-KW-04 exploration well which is located approximately halfway between CBM-KW-01 and CBM-KW-02. The Kutai West PSC is directly west of VICO’s Sanga-Sanga CBM PSC, which has been producing CBM for export from the Bontang LNG facility to North Asian consumers since March 2011. The Indonesian government recently announced that Sanga-Sanga CBM will earn USD7.50/Mcf for gas to be sold to local power producers.
Yes, things are looking better and better. Patience will definitely pay off here iMO.
Drills 109.89 g/t Gold, 0.75 g/t Platinum and 15.51 g/t Palladium in the GT Zone and Continues to Expand Upper Limb Mineralization
http://www.colossusminerals.com/English/Investors/News-Releases/News-Releases-Details/2012/Colossus-Minerals-Drills-10989-gt-Gold-075-gt-Platinum-and-1551-gt-Palladium-in-the-GT-Zone-and-Continues-to-Expand-Upper-Lim/default.aspx
New Results At Marban Highlight Potential To Define High Grade Ore Shoots
Val-d’Or, Quebec - April 26, 2012 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) (“NioGold”) is pleased to release new drilling results of the Phase Two program conducted under the terms of the Aurizon Mines Ltd. (“Aurizon”) earn-in option on the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec.
Results from 22 new drill holes and six (6) extensions of previous holes completed on the Marban gold deposit are included in this release. Drill results are tabled on the following pages.
The new results highlight the potential to define high grade shoots within the Marban deposit, which include:
Hole MB-07-024ext, drilled on section 4300E, was extended to investigate the Eastern Down Dip Zone and returned two high grade intercepts that are included within lower grade intervals:
8.1 g/t Au over 0.9 m at a vertical depth of 395 metres
196.5 g/t Au over 1.2 m at a vertical depth of 415 metres
Shallow in-fill drilling between sections 4300E and 4400E returned the following high grade intersections:
20.5 g/t Au over 2.0 m at a vertical depth of 180 metres (MB-11-248)
36.7 g/t Au over 1.1 m at a vertical depth of 155 metres (MB-07-019ext)
29.8 g/t Au over 1.0 m at a vertical depth of 65 metres (MB-12-252)
Hole MB-12-295 drilled on section 3575E and part of the in-fill drilling on the near surface Western High Grade Zone intersected:
51.4 g/t Au over 1.1 m at 95 metres at vertical depth
The new results are showing very good intercepts over a strike of 1,050 metres on the deposit (from section 3550 to 4600) and from surface to a vertical depth of 500 metres. The deposit is developed inside the Marbenite shear zone which is about 200 to 500 metres wide and is affected by kilometric folds. The deposit itself is multi-folded and the flanks and hinges are forming numerous zones sometimes merging together and giving a thickness that range from 5 to 80 metres. Mineralisation is characterized by chlorite – carbonate – albite alteration associated with a variable amount of quartz veining and iron sulphides.
The Phase Two program will include 34,000 metres of diamond drilling, an updated mineral resource estimate and basic technical studies, including metallurgical testwork. Drilling commenced on December 13, 2011, and four drill rigs are currently in operation. Two are testing the extension at depth of the Marban deposit, one is following up on the fences drilled during Phase 1 between the Norlartic and Marban deposits, and the fourth drill is investigating select exploration targets outlined on the Marban Block property. To date, 75 holes and nine (9) extensions of previous holes have been completed for a total of 26,380 metres. The Phase Two program and updated resource estimate are expected to be completed by the end of the second quarter of 2012.
Marban deposit drilling
The 2011 Phase One drill program demonstrated the continuity of the mineralisation between surface and a vertical depth of 250 metres, as well as the grade consistency, and led to the discovery of the Western High Grade Zone. This Phase One also identified the Eastern Down Dip Extension Zone which is located below a vertical depth of 250 metres and remains open at depth and laterally.
The objectives of the Phase Two drilling program:
Improve the quality of the Marban near surface resources:
The objective is to improve the quality of the known resources and to increase the potential to find more mineralised corridors within a pit shell to help decrease the stripping ratio, and will include drilling the Western High Grade Zone.
Develop a mineral inventory below a vertical depth of 250 metres:
This objective targets the identification of new gold resources inside the Marban structural zone. Preliminary interpolation on the Eastern Down Dip Zone indicates a strong potential to identify gold resources between a vertical depth of 350 and 600 metres. The mineralised structure is considered open laterally and downdip.
New holes and the extension of previous holes are planned at vertical depths of -300 metres to -1,000 metres to test the consistency and extension of the Eastern Down Dip Zone at an average drill hole spacing of 50 metres.
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold remains the project operator during the initial earn-in period.
The Phase One program commenced on August 30, 2010, and was completed on August 9, 2011. The program consisted of 50,253 metres of diamond drilling (170 holes, 8 extensions) at a total cost of $6 million. Drilling was distributed between the Marban (41,270m) and Norlartic (4,319m) deposits and exploration drill hole fences between the two deposits (4,664m). Highlights include the identification of two new gold zones surrounding the former Marban mine named the High Grade Western Zone and Eastern Down Dip Zone.
Drill results – Marban deposit
Click here to view the drill results and full news release.
Technical Info, QA/QC and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled near perpendicular to the principal local structural orientation.
Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed delivered by the drilling contractor to NioGold’s facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples were bagged, sealed and delivered to ALS Chemex in Val-d’Or, Quebec, an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 2 g/t Au by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 g/t Au are sent to Bourlamaque Assay Laboratories Ltd. in Val-d’Or for check assaying.
The drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), the NioGold’s Exploration Manager and a Qualified Person as defined by National Instrument 43-101. The news released was prepared by Mr. Ducharme.
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 130km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 640,000 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. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Toll-free: (877) 642-6200
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604) 662-4505
Agreed
I've been in this stock for years. One of the first I ever bought. I've been on site. I've met with management. I've been promised huge gains since day one but management continues to disappoint. There is so much promise here but promises don't make you rich results do. I'll keep buying the dips and hoping for results. I think we are close...
Been awhile since we've seen any profits here... I like profits :)
Of course but I will start taking some profits at a $1.00 and that would be a welcome change of events. I'm looking for some positives for once.
If Gold can break resistance and close above $1700 this will start to run and $1.00 will be here before we know it.
1. News on drilling results for UMU-10
2. Dividends
Drill Results
A Zone - 5.78 g/t Au over 6.5 m
B Zone - 9.10 g/t Au over 3.0 m
C Zone - 5.71 g/t Au over 1.5 m
Eastmain Mines Inc., a wholly-owned subsidiary of Eastmain Resources Inc. (TSX:ER), announces drill results from a 28-hole program totaling 13,062 metres completed in 2011 on the Eastmain Mine property, located in the James Bay region, Québec. Our principal objective is to expand the Eastmain Mine Gold Deposit beyond its historical resources of 255,750 ounces of gold4). The high-grade, gold-rich A, B and C Zones, which comprise the current deposit, have been traced to a vertical depth of about 500 metres below surface (see website for 3D Leapfrog Deposit Model).
Drill hole EM11-52 intersected an intercept within the A Zone mine series, which assayed 5.78 grams per tonne (gpt) gold across 6.5 metres at a depth of 443.0 metres. The A Zone forms a shallow dipping plane with sub-vertical plunging shoots extending approximately 700 metres down-dip from surface. Holes EM11-47 through EM11-58 also intersected wide intervals of low-grade mineralization within A Zone mine series rocks. The A Zone is open at depth.
B Zone mine series rocks also form a shallow dipping package of sub-vertically plunging shoots extending about 700 metres down-dip from surface. Drill holes EM11-65 and 66 intersected the B Zone. Results include 9.10 gpt gold over 3.0 metres at a depth of 435.5 metres and 2.58 gpt gold over 5.50 metres at a depth of 451.0 metres respectively. Several trends evident within the B Zone package will be drill tested at depth in future programs.
Re-assaying of two B Zone intervals drilled in 2010 containing visible gold in holes EM10-28 and EM10-38 respectively, resulted in an increase in the average grade of both intervals, including 13.24 gpt gold across 9.5 metres and 16.6 gpt gold over 5.5 metres.
Holes EM11-68 to 74 were collared to test the lateral and vertical limits of the C Zone mine series. Though these holes intersected mine series rocks with low-grade mineralization, no significant grade thicknesses were returned from within the C-Zone package. However, drill holes EM11-69 and 74 intersected a new zone of gold mineralization in the hanging wall above the C Zone horizon, which includes 5.77 grams gpt over a half-metre interval at a depth of 230 metres and 5.71 gpt gold over 1.5 metres at a depth of 352.5 metres respectively.
The mine trend extends for several kilometres in both directions from the A,B,C Zones. Several high-priority drill targets have been identified along this 10-kilometre-long mine trend, to the northwest and the southeast of the current deposit. A $1M-exploration program budgeted for the Eastmain Mine Project in 2012 will include additional surface work to prioritize existing targets for drill testing and identify new prospective targets within the mine horizon, and a minimum of 3,000 metres of drilling.
The project facilities are currently being refurbished and upgraded as a result of third-party camp rentals by sub-contractors hired to construct Route 167 North. Permanent road access to the Eastmain Mine property, courtesy of Quebec's Plan Nord infrastructure development program, is anticipated by 2013.
MM's check list...
1. manipulate chart... check
2. manipulate price... check
3. load up on cheap shares... check
4. sell the rally... check
rinse and repeat
Three more drill holes intersecting radioactive mineralization at Patterson Lake South, Saskatchewan
http://tmx.quotemedia.com/article.php?newsid=50652127&qm_symbol=ESO
NioGold’s Marban Property Recovers 95.4 - 97.6% Gold in Metallurgical Testwork
http://www.marketwire.com/press-release/niogolds-marban-property-recovers-954-976-gold-in-metallurgical-testwork-tsx-venture-nox-1647715.htm
Noront enters into C$10m private placement with RCF V
http://www.miningweekly.com/article/noront-enters-into-c10m-private-placement-with-rcf-2012-04-25
.02 is about where I'm looking to flip my trading shares depending on volume.
That is a really nice cup and handle forming on the weekly chart
Reports Significant Increase In Gas Content Results of 234 to 265 scf/ton at Kutai West PSC
VANCOUVER, BRITISH COLUMBIA, April 24, 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 final gas content lab reports have been completed for the first coalbed methane exploration test well (“CBM-KW-02”) 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.
“These final gas content results are significantly above our expectations,” noted Scott Stevens, Chairman of CBM Asia. “We look forward to confirming these results in the second CBM test well currently being drilled. As mentioned in our previous press release 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.”
Independent Australian-based contractor GeoGAS desorbed a total of 17 samples from the CBM-KW-02 well. Gas content of pure coal samples (ash content <15%) ranged from 7.31 to 8.27 m3/tonne (234 to 265 scf/ton), when reported on a dry, ash-free basis. Gas quality was excellent, averaging 96% methane (CH4) with less than 3% CO2 and other inerts. Sorption isotherm data indicate the coals are close to saturated with methane.
On March 15, 2012 the drilling rig spud the second of four planned core wells at the Kutai West PSC and is currently drilling ahead below 500 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.
Colt to Start Portugal Gold Mine in Early 2014 After Price Gains
By Firat Kayakiran - Apr 23, 2012 10:52 AM ET
Colt Resources Inc. (GTP), an explorer for gold in Portugal, is seeking to bring its Montemor mine into production in early 2014 after price gains spurred development.
“We’re hoping that by June we’ll have an economic deposit and then we can consider moving a little bit quicker than people anticipate,” Chief Executive Officer Nikolas Perrault said today by phone ahead of Colt’s resources update in two months’ time. He sees the mine costing less than $100 million to build.
Colt, based in Montreal, took over the Montemor concession in southern Portugal after previous owner Tamaya Resources Ltd. filed for bankruptcy during the global financial crisis. It’s among gold developers boosting investment in exploration after prices for the precious metal increased for 11 years in a row.
Gold resources at Montemor were estimated by the previous operator at about 600,000 ounces after drilling only 100 meters (330 feet), Perrault said. “Even less than a million ounces would be very economic” because high-grade ore is near the surface, he said, without giving a current resource estimate.
Portugal, expected to contract 3.3 percent this year, is seeking to attract investment to its mining industry to stimulate economic growth. The government announced the start of gold and silver mining tenders for concessions in Mertola, Albernoa and Alcoutim in March, and in November signed 10 mining contracts with exploration companies including Colt.
Attractive Targets
“We’re going to be expanding our current drilling program quite substantially; we have numerous regional targets that have never been drill-tested,” Perrault said. “The previous drilling was in mid-2000 and gold was $700 an ounce, so we have a lot of targets that were deemed not worthy back in those days but are extremely attractive now.”
Gold is trading above $1,600 an ounce on the London Metal Exchange, after reaching a record $1,900.05 in September.
“We’re in the process of finding a new level for gold and the new level is a bit higher than what it is right now,” Perrault said. “This project is extremely attractive as it is; because of the high-grade nature of the system even if the gold price goes down a bit we can make some serious money here.”
Colt also owns a tungsten project in northern Portugal. It’s in talks with potential partners for the venture and plans to select one in the next 12 months, according to the CEO.
“The strategy is to develop the tungsten project with an industry player or a strategic partner and the gold project directly on its own,” he said.
Prices for tungsten, a metal used to harden steel in ballistic missiles and in drill bits, have risen after China imposed export restrictions on the metal. While China provides about 85 percent of global supplies, tungsten is also mined in countries including Russia, Bolivia, Peru and Portugal.
“We have what is arguably the highest grading non- developed tungsten project in Europe,” Perrault said. “It’s quite attractive and we think we’ll be able to choose the right partner for the benefit of our shareholders.”
30 feet of 2.11 g/t Total Precious Metals and 94 feet of 1.68 g/t TPM's on Latest Drilling at the Twin Metals Project
Last update: 4/23/2012 3:30:00 AM
TORONTO, April 23, 2012 /PRNewswire via COMTEX/ -- Continued positive drill results in between the Maturi and Nokomis Deposits
Results continuing to show higher grade PGM assays in the area of the "donut hole"
Pre-Feasibility study in progress on Twin Metals Project
The initial pre-feasibility NI-43-101 Resource Estimate report on the consolidated resources of the Twin Metals Project is nearing completion by AMEC
Bechtel is leading and preparing the Pre-Feasibility Study; AMEC will do the NI43-101 Technical Report on the resources used in the Pre-Feasibility study
Duluth Metals Limited ("Duluth Metals") (CA:DM)(CA:DMU) is pleased to announce continued strong assay results for 15 holes drilled on the Twin Metals Project in northeastern Minnesota. Three holes, MEX-285, 279 and 273 drilled in the area of the "donut hole" (a parcel internal to the Nokomis resource acquired with Franconia acquisition) continue to demonstrate the continuity of higher grade platinum + palladium + gold (TPM) values in this area.
"These positive drill results continue to show the continuity of mineralization throughout the deposit. Holes MEX 285, 279 and 273 show additional higher grade results from the "donut hole" area acquired from Franconia and strongly indicate the potential for a mineable area with distinctly higher precious metal grades," stated Vern Baker, President of Duluth Metals. "The western holes confirm that Nokomis and Maturi are part of the same mineralized zone, and show relatively thick mineralized widths for that area."
Drilling highlights include:
Mex-285 returned 150.0 feet of 0.724% copper, 0.231% nickel, 2.40 g/t silver and 1.103 grams TPM (Cu Equivalent* of 1.87%) including 89.0 feet of 0.936% copper, 0.284% nickel, 3.02 g/t silver and 1.445 grams TPM (Cu Equivalent* of 2.37%).
Mex-279 intersected 145.0 feet of 0.623% copper, 0.173% nickel, 2.30 g/t silver and 1.272 g/t TPM (Cu Equivalent* of 1.63%) including 94.0 feet of 0.762% copper, 0.202% nickel, 2.66 g/t silver and 1.680 grams TPM (Cu Equivalent* of 2.01%).
Mex-273 intersected 68.0 feet of 0.616% copper, 0.194% nickel, 1.59 g/t silver and 1.202 g/t TPM (Cu Equivalent* of 1.68%) including 30.0 feet of 0.983% copper, 0.275% nickel, 2.25 g/t silver and 2.112 grams TPM (Cu Equivalent* of 2.65%).
One hole, Mex-0278M drilled to the east of the donut hole area returned 89.0 feet of 0.751% copper, 0.213% nickel, 2.86 g/t silver and 1.592 g/t TPM (Cu Equivalent* of 1.99%).
Eleven holes completed between the Maturi Deposit and the Nokomis Deposit demonstrate the continuous, relatively thick mineralization located between the two deposits. Drilling highlights include:
Mex-271 returned 160.0 feet of 0.574% copper, 0.232% nickel, 1.87 g/t silver and 0.451 grams TPM (Cu Equivalent* of 1.46%) including a 115.0 foot section of 0.653% copper, 0.262% nickel, 2.04 g/t silver and 0.517 grams TPM (Cu Equivalent* of 1.66%)
Mex-272 returned 232 feet of 0.625% copper, 0.186% nickel, 1.59 g/t silver and 0.455 grams TPM (Cu Equivalent* of 1.37%) including a 182 foot section of 0.706% copper, 0.206% nickel, 2.00 g/t silver and 0.522 grams TPM (Cu Equivalent* of 1.54%)
Mex-281 returned 153 feet of 0.688% copper, 0.221% nickel, 2.12 g/t silver and 0.725 grams TPM (Cu Equivalent* of 1.64%) including a 139.5 foot section of 0.723% copper, 0.230% nickel, 2.20 g/t silver and 0.773 grams TPM (Cu Equivalent* of 1.72%).
*Note - Copper Equivalent is based on US metal prices of: Copper - $1.75/lb, Nickel - $7.00/lb, Cobalt - $10.00/lb, Gold - $600/oz, Platinum - $1,100/oz, Palladium - $350/oz and Silver - $8.50/oz, and the methodology with metallurgical recoveries, refining costs and other charges being considered for all metals in accordance with the Net Smelter Return Factors contained in the December 10, 2009 Technical Report On The Mineral Resource Estimate For The Nokomis Deposit On The Nokomis Property, Minnesota, U.S.A. by Scott Wilson RPA.
A map illustrating the location of the 15 drill holes reported in this press release can be found on the Company website under this press release at . The map shows the designated NI 43-101 resource outlines for the Nokomis, Maturi and Spruce Road Deposits. (see Franconia's company profile on Sedar at the October 20, 2006 Technical Report on the Preliminary Assessment of the Birch Lake and Maturi Deposits, Minnesota, U.S.A by Scott Wilson Roscoe Postle Associates; and the November 15, 2007 Technical Report on the Resource Estimate for the Spruce Road Deposit, Minnesota, U.S.A by Scott Wilson Roscoe Postle Associates; Cut-off grade 0.5% Cu.; see Duluth's company profile on Sedar at the December 10, 2009 Technical Report On The Mineral Resource Estimate For The Nokomis Deposit On The Nokomis Property, Minnesota, U.S.A. Cut-off grade at 1.0% CuEq, **Copper equivalent (CuEq%) = Cu% + 3.03 x Ni% + 0.63 x Co% + 0.30 x Au g/t + 0.76 x Pt g/t + 0.24 x Pd g/t).
An initial pre-feasibility NI-43-101 compliant Technical Report on the consolidated resources of the Twin Metals Project is nearing completion by AMEC and is anticipated to be finalized in the second quarter of 2012. This report is going through final iterations as minor additions are incorporated into the geologic model. This resource estimate will be used for mine planning purposes in the pre-feasibility study. This initial resource update will be followed up by a final pre-feasibility resource estimate which will incorporate data from recent and current targeted drill programs.
In reference to our last press release dated March 21, 2012 "Duluth Metals Announces Twin Metals Frame-of-Reference for Bechtel Led Pre-Feasibility Study", Duluth Metals would like to correct and clarify the role of Bechtel in the Pre-Feasibility Study. Bechtel Mining and Metals will be leading and preparing the Pre-Feasibility Study for the Twin Metals Project, but will not prepare the Pre-Feasibility NI-43-101 Technical Report. AMEC E&C Services Inc. will be preparing the NI-43-101 Technical Report for the resource estimate that will be used in the Pre-feasibility Study. The selection of the consultant to prepare the NI-43-101 Technical Report on the Twin Metals Minnesota Pre-Feasibility study will occur in the near future.
The Twin Metals Project covers over 25,000 acres of land/mineral interests and consolidates the largest base and precious metal land position in Minnesota. This extensive land position provides Twin Metals with the platform to plan and develop one the world's largest copper- nickel-PGM deposits within a new emerging mining belt in Minnesota, USA.
For the 2011-2012 Drill Program, half core samples are being prepared at ALS Minerals laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a 30g standard fire assay with an ICP-AES finish and for 33 other elements using a four acid (near total) digestion and a combination of ICP-MS and ICP-AES. ICP over-limits for copper and nickel are re-analyzed using dissolution four acid (near total) digestion followed by ICP-AES or AAS. The remaining half core samples are being stored in Minnesota.
Phillip Larson, P. Geo. is the Qualified Person for Duluth Metals and Senior Geologist for Duluth Metals, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for Duluth Metals's technical content of this press release and quality assurance of the exploration data and analytical results.
About Duluth Metals Limited
Duluth Metals Limited is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint venture with Antofagasta plc on the Twin Metals Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern Minnesota. The Duluth Complex hosts one of the world's largest undeveloped repositories of copper, nickel and PGMs, including the world's third largest accumulation of nickel sulphides, and one of the world's largest accumulations of polymetallic copper and platinum group metals. Aside from the joint venture, Duluth Metals retains a 100% position on approximately 37,000 acres of mineral interests on exploration properties adjacent to and nearby the Twin Metals Minnesota LLC joint venture.
About Twin Metals Minnesota LLC
Twin Metals Minnesota, LLC, is a joint venture company, 60 percent owned by Duluth Metals Limited and 40 percent by Antofagasta plc. Twin Metals was formed in 2010 to pursue the development and operation of a copper, nickel and platinum group metals (strategic metals) underground mining project within the Duluth Complex in northeastern Minnesota. Twin Metals' holds mineral and land assets of approximately 25,000 acres of leased and permitted land, including four NI 43-101 compliant mineral resources: the Nokomis, Maturi, Spruce Road and Birch Lake deposits.
This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the results of drilling operations of Duluth Metals and exploration and mine development. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Duluth Metals has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the prices of copper, nickel and platinum group metals (PGMs) and the costs associated with continuing exploration and mining development. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be refined, the ability to execute planned exploration and future drilling programs, possible variations of copper, nickel and PGM grade or recovery rates, the need for additional funding to continue exploration efforts, changes in general economic, market and business conditions, and those other risks set forth in Duluth Metals' most recent annual information form under the heading "Risk Factors" and in its other public filings. Statements related to "reserves" and "resources" are deemed forward-looking statements as they involve the implied assessment, based on realistically assumed and justifiable technical and economic conditions, that an inventory of mineralization will become economically extractable. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Duluth Metals. Although Duluth Metals has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof. Duluth Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this disclaimer.
Well, I've seen it go both ways. Euromax has excellent properties with great management and great locations. What they don't have is endless financing. This step had to be taken to get any of their properties into production or take on a partner.
I hate losing shares and I will wait and see how the market reacts. If there is a sell off I will definitely be a buyer.
Shareholders give up 3 shares for 1?
Euromax announces that shareholders will be asked at the annual general and special meeting of shareholders to be held on May 22, 2012 (the "Meeting") to consider a special resolution to approve a consolidation of the Company's issued and outstanding common shares on the basis of one post-consolidation share for every three pre-consolidation shares, or such lesser whole number of pre-consolidation shares as the Company's board of directors may determine. In the event that the proposed consolidation is conducted on a 1 for 3 basis, based on the Company's currently outstanding common shares of 166,575,442, the Company would have approximately 55,525,147 common shares outstanding following the consolidation. The Company's board of directors believes that the existing share structure may not be conducive to completing additional equity financings which will be required in the future, and that this proposed consolidation may be required to facilitate new equity investments in the Company. The Company does not intend to change its name in connection with the proposed consolidation. The proposed consolidation is subject to shareholder approval and acceptance for filing by the TSX Venture Exchange.
The Company also announces that the following persons are proposed to be elected as directors of the Company at the Meeting: Mark Gustafson, Randal Matkaluk and Quinton Hennigh, each of whom is currently a director of EurOmax, and Martyn Konig, Varshan Gokool and Steve Sharpe, each of whom is a new director nominee.
Additional information regarding the proposed consolidation and the proposed director nominees is provided in the management information circular for the Meeting. The information circular and other materials relating to the Meeting have been mailed to registered shareholders and filed on SEDAR.
Animas advances metallurgical test work planning and land access at the Santa Gertrudis Gold Project, Mexico.
Animas Resources Ltd. (TSX.V: ANI) continues to advance its land access case against several Mexican citizens, and the Company hopes to regain property access and surface rights shortly. While work continues on the land access issues, Animas has contracted Process Engineering L.L.C. to advise the Company on metallurgical test work. Additionally, the Company has received all environmental permits necessary for exploration drilling at the Santa Gertrudis gold project, and a drill contractor has been selected. Exploration program planning for the 100% owned Desierto property also is in progress.
Santa Gertrudis Property Access Update
In October, 2011, Animas announced that a Mexican citizen and his associates had blocked access to a large portion of the 100% owned Santa Gertrudis Gold Property, and had sampled material from the heap leach pads that remain on-site from previous mining operations (Campbell Resources and Phelps Dodge Corp). These leach pads are located on mineral concessions currently held in good standing by Animas, and the Company also has a current surface rights/use agreement with the surface owners (Ejido Seis de Enero).
Since October, Animas has been vigorously fighting this illegal action through the Mexican legal system, and to date, the Company has made significant progress towards resolving the issue. A criminal legal action against the involved Mexican individuals was filed late last year with the Ministerio Publico in Magdalena, Sonora, and in recent months, the Company has had very productive discussions with both the Sonora State Attorney General's office (Procuraduria General) and the office of the Secretary of Economy (Secretaria de Economia). The State Attorney General and the Secretary of Economy both strongly support the Company's position, and it is expected that the Company will be granted provisional restitution (full access) of the property while the matter moves through the Mexican court system.
Santa Gertrudis Gold Project Exploration & Metallurgical Plans
Although only a relatively minor amount of physical work has been done on the property since October 2011, during this time the Company has made extensive plans for future work on the project. Process Engineering L.L.C. (Eugenio Iasillo P.E.) of Tucson, Arizona has been contracted to advise the Company on a metallurgical test program to support the flow sheet contemplated for the project, and bids for this planned work have been received from three highly-respected, competent independent, metallurgical test labs (Kappes Cassidy and Associates, Metcon Research, and McClelland Laboratories). Discussions have also be held with Herbert E. Welhener of Independent Mining Consultants, Inc. (IMC) of Tucson, Arizona, and IMC have agreed to provide preliminary resource modeling, mine planning, and preliminary economic scoping studies for Animas. Environmental and drilling permits have now been approved by SEMARNAT, and Major Drilling de Mexico SA de CV has been contracted to do a minimum of 5,000 meters of diamond core drilling in the Cristina, Trinidad, and Silicoso areas of the Santa Gertrudis Gold Project.
Additional Activities Planned for 2012 - Desierto and Ariel Properties
In addition to the legal activities and program planning work at Santa Gertrudis, the Company has continued to review high quality gold submittals within the Sonora Gold Belt, plan for additional work on the 100% Animas-held Desierto prospect near Sonoyta, Sonora, and review possible high-quality mergers/acquisitions.
The Company continues to have outside interest in the Ariel copper porphyry prospect near Nacozari, Sonora. Two major companies recently reviewed Animas' data from the property and their interest was strong enough that they have scheduled site visits for mid-April 2012.
One would hope this would put a floor in the price...
Drilling Returns 19.5 Meters of Strong Radioactive Mineralization at Patterson Lake, Saskatchewan
Last update: 4/18/2012 8:30:00 AM
VANCOUVER, April 18, 2012 /PRNewswire via COMTEX/ -- Trading Symbol TSX-V - ESO Frankfurt - E2G
ESO Uranium Corp. (CA:ESO), (the "Company" or "ESO") has been advised by Fission Energy Corp (CA:FIS) that drill hole PLS12-013 has intersected a width of 19.5 meters with strongly anomalous gamma radiation values based on hand held scintillometer analysis at the Patterson Lake South (PLS) Joint Venture (JV) property.
Located up-ice from the 2011 discovery of a large, high-grade boulder field (with grades up to 39.6% U3O8).
The down hole gamma log shows a 19 m (63 feet) basement interval averaging 935 cps* starting at shallow depth (98.17 m.) from surface.
Includes a 7.7 meter of interval that averages over 1000 cps including a1982 cps value.
Located up ice from PDD11-06 which had 400 cps section in glacial till.
Strong alteration signature of rocks in core from radioactive intersection
"Skip Distance" from boulder field to PLS12-013 vicinity approximately 3 kms
Accessible by road - 2kms from all weather Highway 955 Cluff Lake Mine road *"cps" stands for counts per second due to gamma radiation measured by a borehole probe. All intersections are drill intersections and not necessarily true widths.
In the search for the source of the high grade boulders, 7 drill holes were completed in the first part of the programme (2011) that included PDD11-06. Gamma logs of two of the drill holes, PDD11-06 and PDD11-07, identified sections of radioactive till to the northeast of the uranium boulder field. The depth of these radioactive sections is consistent with a till sheet dipping to the NE from the uranium boulder at surface through PDD11-07 to the deeper section in PDD11-06. These two holes were located approximately southeast of PLS12-013, down ice from the current area of interest, and it appears that the elevated radioactivity in PDD11-06 may have been due to transport of radioactive material by the ice from the general area of PLS12-13.
The "Skip Distance" is the term for the distance from source to the first appearance of boulders from a bedrock source of mineralization in a sheet of till (rock and clay debris) produced by glacial (ice) scouring. As the ice moves across the land surface, it picks up rock by its scouring action and pushes it down-ice from the source until it rides up over earlier till deposits and may be exposed as a boulder field at the surface. The eastern flank of the uranium boulder field discovered by the JV last year is approximately 3 kms from the area between PLS12-13 and PDD11-06.
The programme has been extended from the 14 holes, originally reported, to 16 drill holes for this phase of the work. The drill contractor, Hardrock Drilling, has performed well, both in the drilling from the ice on Patterson Lake and through the thicker glacial till on the land west of Patterson Lake.
The Patterson Lake South JV is a 50%/50% joint interest held with Fission Energy Corp. The property is located on the all weather road to the former Cluff Lake mine which produced more than 60 million lbs U3O8 and which also passes the Shea Creek deposits of UEX-Areva 50 km north of the PLS property. The Shea Creek deposits are located along a 3 km long system and represent a significant sized resource with mineralization extending from the overlying Athabasca sediments to depths of several hundred meters into the basement rocks beneath them. The target mineralization on the PLS property is a shallow subcropping body (or bodies) of uranium, being the source of the high grade uranium boulders located in 2011.
The reader is cautioned that a total count scintillometer reading is the result of natural gamma radiation that may come from various sources including cosmic radiation, thorium, potassium and uranium and its radioactive decay products. CPS (counts per second) values cannot be certain to correlate with uranium grades of the rock but are a general guide of the radioactivity of minerals present in rock placed in proximity to the instrument.
B.Ainsworth P.Eng. SK/BC is the Qualified Person responsible for the technical disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
It does until it doesn't... Keep taking profits