June 30, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) has received shareholder approval for the proposed Joint Venture with XinXing Pipes Group as further described in the Management Information Circular dated May 30th, 2011. The results of the AGM are being submitted to the TSX Venture Exchange to obtain regulatory approval.
In addition, two new directors have been appointed to the AEI board: Mr. Zeng Yaogan, XXP’s nominee for the AEI board, and Mr. Robert Telewiak.
June 30, 2011
Eagle Star Minerals (OTC Other: ELGSF; TSX-V: EGE) has appointed Jose Carlos Polonia, currently senior advisor to the Company’s Advisory Board, as its new Chief Operating Officer and Carlos Augusto Sena de Sa as Project Manager for the newly-acquired Ruth Phosphate Project, in the state of Piaui, Brazil. Below is a brief bio on each.
Jose Carlos Polonia – With nearly 40 years of Brazilian geological experience, Mr. Polonia brings his extensive knowledge and expertise in developing various mining projects through multiple stages to his new role as Chief Operating Officer of Eagle Star. Mr. Polonia began his career with a solid 30 year tenure for Brazilian mining giant Companhia Vale do Rio Doce (also known as CVRD or “Vale”), beginning as a Geologist in Vale’s Iron Ore Development Department – Itabira, Minas Gerais State in 1972. He then moved on to serve Vale in various management roles, including coordinator of a group that studied, evaluated and devised methods to extract gold from iron deposits.
Carlos Augusto Sena de Sa – With 30 years of diverse Brazilian geological experience, Carlos Augusto Sena de Sa brings to Eagle Star a specialized knowledge pertaining to locating and developing agromineral deposits. Mr. Sena de Sa’s geological features roles aligned with mining giants such as CVRD (or “Vale”), BHP Billiton, Rio Tinto, Anglo American, DuPont and Kinross, as well as Brazauro Resources Corp. (Jaguar Resources), Talon Metals Corp. and Paranapanema Group, TVX/CNM (merged by Kinross), among others. Throughout his professional career, Mr. Sena de Sa has been involved in all levels of project development, from research and assessment of projects to actual mining.
June 29, 2011
Advanced Explorations (OTC Other: ADEXF; TSX-V: AXI) is nearing completion of its Tuktu drill program. Drill fences at 400 metre intervals utilizing 2 drills are testing the 2.6 km strike of Tuktu 1. Holes 12 and 13 are currently being drilled, and previous drill holes are designed to test the banded iron formation (BIF) to depths of 250 metres on average with the deepest hole to date going 311 metres.
The Company recently completed a ground magnetometer survey over the Tuktu 1 target area, and the results have been very useful for mapping the distribution of the magnetite within the iron formation helping geologists optimize the drill plan. The steeply dipping BIF mineralization remains open at depth and drill logging results are consistent with the previous geologic mapping. AEI will also be initiating a program of additional surface mapping and sampling to better characterize the Tuktu 1 mineralization. This program will also extend onto the other 10 adjoining claims to better understand the discovery potential of the Tuktu area.
June 28, 2011
Scorpio Gold (OTC Other: SRCRF; TSX-V: SGN) has made its first precious metals sale from the first production batch of gold and silver in loaded carbon produced at the Mineral Ridge gold deposit, Nevada. In total, the Company sold 623 ounces of gold and 301 ounces of silver to Waterton Global Resource Management, as per its sales agreement.
According to Peter J. Hawley, President and CEO of Scorpio Gold, ”This was a monumental day for Scorpio Gold, and marks the start of on-going sales of its precious metals from Mineral Ridge. The Company would like to thank the operations team for their commitment and hard work to make this happen in a very short period of time, as well as the shareholders of the Company for their continued support.”
June 28, 2011
Balmoral Resources (TSX-V: BAR) has entered into a Letter of Intent with Ontario based GTA Resources and Mining Inc. whereby GTA has, subject to satisfactory results of final technical due diligence by GTA, been granted the exclusive right to enter into an Option Agreement to acquire from Balmoral up to a 70% interest in Balmoral’s Northshore Gold Property located in the Hemlo-Schreiber greentstone belt of western Ontario.
According to Darin Wagner, President and CEO of Balmoral, “We are pleased to be able to reach an agreement with an experienced and technically sound group like GTA who have first-hand experience on the Northshore Property. This should enable them to move the project forward rapidly. This will allow Balmoral to concentrate on our recent gold discoveries on the Detour Gold Trend in Quebec, where we anticipate the resumption of drilling within the next 7-10 days, while at the same time allowing our shareholders to be exposed to the discovery and advancement opportunities at Northshore.”
June 28, 2011
Boxxer Gold Corp. (OTC Other: BXXRF; TSX-V: BXX), in diamond drill hole DDH-07-2011, has intersected three intervals of visible oxide copper (malachite-copper oxide mineral) mineralization. The Quantec survey covered a large area around the former Oro Amigo (copper-gold) mine and the Keystone Thrust fault. The results of the three Titan-24 surveys completed in this portion of the Boss project have been compiled into a three dimensional (“3D”) model. The results from the structural geological study should be received in the next couple of weeks.
- Diamond Drill Hole (“DDH”) DDH-07-2011 intersected three intervals of visible oxide copper mineralization from 0 to 37.1m, from 139.3 to 145.7m and from 200.6 to 207.9m The drilling program has been suspended until mid-late September due to extreme temperature conditions;
- Target BE#1 (positive chargeability and low resistivity) that was previously tested by DDH-03-2010has been more precisely defined and measures approximately 1,000m by 1,000m at a depth of 300m below surface. A compilation of the three Titan-24 surveys that covered this target, suggests that the original DDH-03-2010 may have been drilled on the edge of the chargeability anomaly;
- Target BE#6 is a large almost circular shaped area (approximately 1,500m long by 2,000m wide at a depth of 300m below surface) of positive chargeability and moderate resistivity centered around the former Oro Amigo copper-gold mine;
- Target BE#7 is a continuous northeast trending zone (approximately 500m wide) of positive chargeability that extends from west of the former Boss Mine (copper-gold producer), through the Breccia zone and past the Oro Amigo mine (copper-gold) a distance of 6.0 kilometers.This anomaly appears to intersect the large circular anomaly located around the former Oro Amigo mine; and
- Geochemical results show that DDH-04-2011, DDH-05-2011 and DDH-06-2011 have intersected multiple intervals of anomalous gold and silver concentrations.
June 28, 2011
Merriman Capital, a wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR), today announced that it will serve as the Principal American Liaison (PAL) for Nemaska Exploration Inc. (OTCQX: NMKEF; TSX-V: NMX) as it begins trading on OTCQX.
According to Guy Bourassa, President and CEO of Nemaska Exploration, “Our decision to trade on the OTCQX was an important step in expanding our exposure to North American investors. Our focus remains firmly on bringing our lithium project into production in the near term, while realizing value for our shareholders.”
June 28, 2011
Golden Phoenix Minerals’ (OTCBB: GPXM) joint venture partner, Scorpio Gold (OTC Other: SRCRF; TSX-V: SGN), has announced that the first gold and silver sales from the Mineral Ridge Gold project. The precious metals sale was made from the first production batch of gold and silver in loaded carbon. In total, 623 ounces of gold and 301 ounces of silver were sold to Waterton Global Resource Management.
Golden Phoenix currently maintains a thirty percent (30%) interest in the Mineral Ridge Gold Project via its membership interest in Mineral Ridge Gold LLC, the joint venture entity that owns and operates the Mineral Ridge property with Scorpio Gold.
June 28, 2011
Goldgroup Mining Inc. (TSX: GGA and OTC: GGAZF) announced this morning some excellent results from additional diamond drilling at it’s flagship Caballo Blanco gold project in Veracruz, Mexico – including a number of thick sections of significant gold mineralization. This round of drilling further extends the the La Paila oxide gold zone to the southeast and southwest. Goldgroup’s current drill program is ongoing as they define and expand the eastern, southern and southwestern flanks of the La Paila gold zone which currently remains open in these directions.
Drill highlights include:
DDH 11 CBN 104: 50.00 m @ 0.96 g/t Au
DDH 11 CBN 101: 65.96 m @ 0.85 g/t Au
DDH 11 CBN 91: 74.35 m @ 0.60 g/t Au
Commenting in the release, Keith Piggott, Goldgroup’s CEO stated: “These diamond drill results yielded gold intercepts contained in completely oxidized, vuggy and siliceous rock occurring inside and peripheral to the existing La Paila zone. They are similar in grade to the current NI 43-101 estimated mineral resource and continue to give better definition to allow the design of the first open pit. The current drilling program, together with the on-going column-leach metallurgical testing, environmental and sociological studies as well as the run of mine heap-leach pad design, form the basis for targeting to bring Caballo Blanco into production in 2012.”
Goldgroup has consistently stated their goal of moving the Caballo Blanco project into the 100,000 oz plus (gold) production category with start-up production scheduled for 2012. This level of gold production would be a game changer event for this junior mining group and in the meatime, they continue to produce excellent results from the drill bit as they increase already defined 43-101 gold resources at both Caballo Blanco and San Jose de Gracia.
Here is a link to the updated drill map for Caballo Blanco’s La Paila zone: www.babybulls.com/PDF/Caballo_Blanco_Drill_Hole_Location_Map_June_28_2011_Holes_87-104.pdf
June 27, 2011
Andover Ventures (OTC Other: AOVTF: TSX-V: AOX) announced today that Kennecott Exploration Company (“Kennecott”), a division of Rio Tinto plc, has notified Chief Consolidated Mining Company (“Chief”) (78.5% controlled by Andover) that it has completed a Cultural Resource Survey around the proposed drill targets planned for 2011 and has received their drill permits from the Department of Oil, Gas and Mining (“DOGM”) for the State of Utah.