Avanti Mining Inc. (TSX-V: AVT; OTC Other: AVNMF) announced today that its Environmental Assessment (EA) Application for the Kitsault Mine Project in northern BC, has been accepted by the Province for formal review after the Screening Assessment. The Province has concluded that the draft EA Application meets the application requirements as stated in the Project Application Information Requirements (AIR). All members of the Project Technical Working Group participated in the Screening Assessment, including Provincial and Federal regulators as well as First Nations. Avanti will assess and finalize its EA Application over the next 30 days and when completed, the 180-day legislated review of the document will commence.
VANCOUVER, Canada — Vancouver’s two January resources get-ups, Cambridge House for investors and B.C. Round Up for geos & technicians, gave us flogging five-day rains, one superb NHL hockey match … and plenty of hard-asset bravado:
- “I don’t own stocks any more; I own colored diamonds,” diamond seller Colin Ferguson told me at a private party I hosted with Cambridge House‘s Joe Martin. (I invite the guests and Joe entertains ‘em.) Mr. Ferguson, a 51-year-old Vancouver Island resident, says we’ll see reports of diamond warehousing by aggressive hedge funds. Worldwide demand for diamonds is on track to exceed supply by 7 million carats. The “coloreds,” champagnes (cognac hues), pinks, blues and greens, are beginning to flash in fashion-minded markets. Colin will be at Mr. Martin’s Palm Springs investment conference at Indian Wells, California, in two weeks. I want to see more of these stones. (See: www. cambridgehouse.com)
- “Poly-metallic mines and properties are always in demand,” Tom Macneill says. I came across Mr. Macneill, a lifelong Saskatchewan resident and longtime chief of 49 North Resources (FNR in Canada), across the street from Waterfront at lunchtime. Tom, sitting at a lunch counter, is sitting on his merchant bank’s 10-percent-plus ownership of surging DNI Metals (DNI). DNI is a northern Canada smorgasbord of elements in an expansive property portfolio. I am fortunate to own FNR and DNI after a fishing trip a couple years back with Tom, Bob Bishop, Doug Casey and others, way up there in Saskatchewan. (By the way, Mr. Macneill is hot on uranium prospectors right now — especially one big one whose first letter is C and its last O.)
- I tested my latest think on the exhibit floor at the Joe show; copper-gold porphyrys will outpace market gains of all metals equities in coming weeks. “When Dr. Copper is in the house, it’s a very, very, very good house,” says Don Mosher. Don represents Riverstone Resources (RVS), a Burkina Faso prospector whose shares look ready to bust out after a largely ignored resource report. A geologist I rely on for analysis, Dr. Peter Megaw of Minaurum (Gold (MGG), Candente Gold and others, told me, “Copper is a big-company business. A billion tonnes of half-percent copper with the gold credit blended in, that takes care of a lot of the risk of taking on a development.”
MOSCOW (BabyBulls.com) – Just back from Russia, where I was researching what might be a diamond in the rough. More on that early next year after some double-D.
I returned from Moscow on Saturday, when 100,000 or so Russians demonstrated peacefully amidst slush, ice and bitter cold. Their white sabbath came after a protest three weeks ago against election shenanigans and Kremlin leaders P&M. Prime Minister Putin and his onetime campaign manager, President Medvedev, ”are two midgets who will keep tossing their balls back and forth as long as they can,” one investment banker told me during my visit.
This Concert Poster Needs No Explanation: Go Ozzie GO
Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has submitted its Environmental Assessment (“EA”) Application for the Kitsault Mine Project in northern BC for the required 30-day review. This over 7,000+ page document will be reviewed for its compliance with our Application Information Requirements by the British Columbia Environmental Assesment Office, the Canadian Environmental Assessment Agency and members of the Kitsault EA Working Group. The 30-day Screening Review period ends January 22, 2012, however Avanti has requested and BC EAO is considering a 15 day extension to this period because of the holiday season.
Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has entered into a loan agreement with Resource Capital Funds for $5 million, the purpose of which is to provide general working capital while the Company focuses on finding a partner for the development of its Kitsault molybdenum project. The Loan will accrue interest at a rate of 12% per year, which is payable at the end of each quarter in cash or common shares of the Company, at RCF’s option.
Avanti Mining Inc. (TSX-V: AVT.Vis pleased to announce that it has received assays from the last 11 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. The 2011 drilling program totaled 32 holes for 9,989 meters at the Kitsault deposit, 11 condemnation holes total 558 meters around Kitsault and 26 holes totaling 2,803 meters at Roundy Creek for a total of 12,350 meters.
In the release, Craig J. Nelsen, President & CEO of Avanti stated: ”Results presented in this release complete the results of the 2011 drilling program and include the balance of the results from the last 6 holes south of Patsy Creek at the Kitsault deposit and the last 5 holes at Roundy Creek located about four kilometers west of Kitsault. This year’s program was intended to convert approximately 35 million tonnes of Inferred material within the Kitsault final feasibility pit design that is currently defined as waste. We expect the drilling at Kitsault to convert a significant amount of Inferred resource to Indicated and Indicated to Measured. The drilling at Roundy Creek was intended to confirm prior drilling and allow us to calculate an initial 43-101 resource at this high-grade prospect.”
Avanti Intersects 85.4 Meters Averaging 0.378% Molybdenum at Roundy Creek Prospect on the Kitsault Mine PropertyNovember 16, 2011
Avanti Mining Inc. (TSX-V: AVT; OTC: AVMNF) announced today that it has received assays from the next 12 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. This release includes the results for five holes drilled south of Patsy Creek at the Kitsault Mine and seven holes drilled at the Roundy Creek prospect located about 4 km west of the Kitsault Mine on Avanti’s land holdings. The Company is awaiting the results for the remaining seven holes at Kitsault and five holes at Roundy Creek that should be completed and released by the end of November.
Avanti Mining (OTC Other: AVNMF; TSX-V: AVT) has appointed Shane Uren, President of Greenwood Environmental, to the position of VP Environmental and Permitting. Shane is a Registered Professional Biologist in British Columbia with a Masters in Civil Engineering from the University of British Columbia. Mr. Uren has considerable experience in the management of environmental assessments of mining projects in British Columbia, Canada and oversees; including BHP Billiton’s Ekati Diamond Mine, Cambior’s Rosebel Mine, Inco Ltd.’s Goro Project, Novagold’s Galore Creek Project, Thompson Creek Metal’s Davidson Project and is currently engaged with Copper Fox Metals on their Schaft Creek Mine Project environmental assessment.
Robert Blair resigned his position as VP Exploration effective October 31, 2011.
Avanti Mining Inc. (OTC Other: AVNMF; TSX-V: AVT) announced this morning that it has received approval for the Application Information Requirements (AIR) of its Environmental Assessment (EA) for the Kitsault Mine Project in northern BC. This document meets the requirements of the British Columbia Environmental Assesment Act and the Canadian Environmental Assessment Act. The AIR specifies the information that must be contained in the EA Application for the Environmental Certificate and is valid for a period of three years from its approval date of October 6, 2011.
Commenting in the release, Mr. Craig J. Nelsen, President and CEO stated: “Approval of the AIR is a significant milestone within the Environmental Assessment process. With its acceptance, all the information needed in the EA Application is specified. Avanti and its consultants have been collecting and analyzing new environmental baseline information, as well as over twenty years of previous operators environmental and reclamation information to inform this application. The EA Application is substantially complete and we hope to submit it for screening review to the regulators during the current quarter.”
Avanti Mining Inc. (OTC Other: AVNMF and TSX-V: AVT) announced today that it has received assays from the next 14 holes of its 2011 drill program at the Kitsault Mine molybdenum project located in northwest British Colombia. The drilling program has been completed and totaled 32 holes for 9,989 meters at the Kitsault deposit, 11 condemnation holes total 558 meters around Kitsault and 26 holes totaling 2,803 meters at Roundy Creek for a total of 12,350 meters. Including the holes released in this press release, approximately 50% of the results are still in process. Results previously released on August 25, 2011 for the first six holes are restated in the table below after an error was discovered. This results in a moderate downgrade of several of these holes.