April 4, 2012
Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) has assasys from 14 additional diamond core holes totaling 3,334 metres from its Kibi Gold Project in Ghana, highlights of which include:
- 25 metres grading 1.96 grams per tonne (“g/t”) gold, including 2.79 g/t gold over9 metres, in #KBDD12189 from 195 metres down-hole (Big Bend Zone);
- 23 metres grading 1.50 g/t gold, including 2.80 g/t gold over 6 metres, in #KBDD12187 from 331 metres down-hole (Big Bend Zone);
- Work on an initial NI 43-101 – compliant mineral resource estimate on the Big Bend and East Dyke gold zones of the Kibi Project’s Zone 2 has commenced by SEMS Exploration Services Ltd of Accra, Ghana.
March 16, 2012
Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) has commissioned SEMS Exploration Services Ltd. of Accra, Ghana to prepare an initial NI 43-101 – compliant mineral resource estimate on the Big Bend and East Dyke gold zones located within Zone 2 of the Company’s wholly-owned Kibi Gold Project, located in the Kibi – Winneba greenstone belt in Ghana, West Africa. This will constitute the first ever mineral resource estimate generated on a gold project within the underexplored Kibi Greenstone Belt.
The Company is also pleased to report that its 2012 diamond drilling campaign is well underway with a total of 31 holes completed to date for a total of 6,654 m of core. The present drilling is designed to further delineate/infill the Big Bend Zone – Central Granitoid and the South Ridge Granitoid Zone; as well as further test/delineate other prominent gold systems and geophysical/geochemical anomalies along the approximately 5.5 km NE–trending Kibi Gold Trend.
March 13, 2012
Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) announced that its Annual and Special Meeting of Stockholders will be held on Thursday, June 7, 2012 at 10:00 a.m. in Toronto, Ontario at the Ontario Bar Association, 20 Toronto Street, 2nd Floor, in Conference Rooms C and D. Xtra-Gold’s stockholders of record at the close of business on April 16, 2012 will be entitled to notice of the Meeting and to vote at the Meeting. In order for their votes to be counted at the Meeting, stockholders must deliver their proxy by no later than June 5, 2012 at 10:00 a.m. (Toronto time) or attend the Meeting.
February 7, 2012
Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) intends to proceed with a normal course issuer bid to purchase up to 4,045,353 common shares of the Company. The Company is commencing the repurchase of shares because it believes that the current market price of its common shares may not fully reflect the underlying value of the Company’s business and its future business prospects. The Company believes that the purchase of common shares for cancellation is in the best interests of the Company’s shareholders by increasing the respective proportionate shareholdings and therefore increasing the respective equity interest in the Company for all remaining shareholders.
February 4, 2012
INDIAN WELLS, California — I am paddle-boarding the video wave. Swift broadband speeds and neat video production values … well, moving pictures are making text reports look Neanderthal in comparison.
I don’t say that easily, as I am more a text-pert: newspapers, wire, Internet … than I am a broadcaster: CBS Radio, MarketWatch, national and local TV.
Here are a couple vids from the Cambridge House Metals Conference in Vancouver. On the actionable front, please note companies in the 3-minute splice that might have actionable events in coming days and weeks. In the RECAP video, for instance, you’ll see a few company posters and presenters at their exhibit hall booths. Jot down their names. I think one or two will see bust-out assays or sizeable additions to their compliant resources in short order. (More actionables in second half of this article.)
The Video: http://blog.cambridgehouse.com/2012/02/03/vancouver-resource-investment-conference-2012-recap/
Here is another vid
, this one me yakking with Scott Gibson
of Canada’s Kitco. (See video.
) I mention Dr. Copper and several companies that are developing what they believe are significant gold-copper porphyrys. In Colombia and Nicaragua. Watch it.
Sandspring's Richard Munson
On the Torrey Hills front: Scorpio Gold (SGN) shares are now above a buck. They’re a client of the firm, and I know CEO Peter Hawley and have seen the Nevada project. What else? Michael Nikiforuk from African Gold Group (AGG) is in Cape Town this week for the INDABA conference. So is CEO Paul Zyla from Xtra-Gold Resources (XTG). They are both clients, and I own shares of both and have seen their projects (Ghana, Mali) numerous times.
This is the first year in a while that I have not hopped a flight to Africa in February; it’s usually a good time to see properties because everyone is there for INDABA and one other show. I guess I have Cambodia (two paragraphs down for more) on the brain. I have a few folks scouting the Cape Town show for me and reporting back on the Africa companies I have surveyed over the years. These include Mike Jones and his Platinum Group Metals (PTM and PLG), which is a client of Torrey Hills and a South Africa mine developer, along with its neighbour, Robert Friedland’s Ivanhoe Nickel & Platinum. I have owned both shares, one private and one public, for many, many years.
My ownership list for the great continent of Africa includes PMI Gold (PMV), Stellar Diamonds (STEL in London), Tigray Resources (TIG), Canaco (CAN), Great Basin Gold (GBG), Platinum Group Metals (PLG), Ivanhoe Nickel & Platinum and West African Iron Ore (WAI). Oh, and one hapless and disorganized tantalum prospector in Mozambique that has melted down in value, and not UP: Noventa (NTA).
I’m speaking in the California desert. Cambridge House California
Feb. 11-12. That’s in Indian Wells, California, USA. If you have time, please come by and say hello. I have a few metals equities surprises that even the experts have not staked out. I speak on Sunday, Feb. 12. Lots of friends and colleagues will be there, including Cambridge House’s Joe Martin
, GATA’s Bill Murphy, Chris Powell
and, I am told, Murphy siblings; that’s plural siblings. The Queen of England is celebrating her 60th year of a monarchy; who knows what
in the name of gold or golf the Bill Murphy family is celebrating. I do know the non-profit educator Gold Anti-Trust Action Comittee
(GATA) is celebrating its 12th year of anarchy.
Also converging on this Indian Wells
hotel that I imagine will melt up
in the desert springs of gold, golf, and GATA
: our gang from Torrey Hills Capital, Texas asset manager Frank Holmes, diamond maven Colin Ferguson
and other gold
) pros. I can’t wait. I went to graduate school in the Arizona desert and was lucky to snag a master’s degree or two amid the cacti and hallucinogens. For me, returning to the desert, ANY desert, is a melt-up, strip-down mineralized affair.
After the California desert, it’s off to Cambodia to see properties under development by Mike Weeks’ Angkor Gold (ANK). I own the shares, having broken a rule I set last year about NEVER purchasing anything before I see it with my own eyes. (The gold grades look giddy they’re so high. We’ll see.)
I also will be spending time with Mr. Weeks and his wife, Delayne Adams, as we deliver medical equipment from their stomping grounds in Alberta, Canada, and as we assist a Cambodia hospital. Mike and a group of his oil & gas friends have their own money in Angkor Gold; now isn’t that a crowd pleaser. Their community contributions in ravaged Cambodia qualify the two of them and their friends and company for nominations to the just-created (this moment) 2012 Siddhartha Award For Sacrifice & Grace. (Photo courtesy Angkor Gold)
Oh yes, before I forget, a friend at the health club in Strawberry this weekend dropped in to ask why Revett Minerals (RVM) is sitting back, share-price-wise, whilst lots of other silver companies have seen some heady share action these past two weeks. My answer on that is “Just Wait & See.” John Shanahan’s Revett is not just pure silver from the Troy Mine in Montana; it’s poly metallic. I think the shares this coming week will reach all-time highs as folks realize the potential of Revett’s Rock Creek project. I own the shares, and Revett is a Torrey Hills Capital client.
Revett, along with several other companies, including Manitoba’s Carlisle Gold (CGJ) and Ghana/Mali’s African Gold Group, are on my 2012 takeover roster. I own many shares of both, all purchased in the market; only AGG is a Torrey Hills client. Also on the cheap heap is Sandspring Resources (SSP), whose Guyana project I have seen a couple of times. It’s copper and gold. That’s CEO Rich Munson in the photo, above — at the Vancouver metals show. I own Sandspring shares, but they have been hammered — in fact, more than most any metals equity I follow.
On the SSP front, since I was a believer in the Guyana prospector as recently as five or six months ago, I have to say I am concerned to see Abraham Drost, who was president of Sandspring and is a Thunder Bay resident and geologist, leave Sandspring. I follow Tall Abraham as an indicator of hard work, clean living, smart corporate choices and safe driving (not always a given with brilliant geos). The good news is that Mr. Drost is now pitching in BIGTIME at Howard Katz’s Tamaka Gold, an Ontario project that I have seen and that is shaping up as the second coming of Osisko Meets Rainy Creek. Tamaka’s market debut, using the ticker TKT in Canada, is just around the corner. I think Tamaka might blow out the cobwebs that cloak Northeast Canada metals valuations. We’ll see.
Birthday wishes: To Hugh Clarke of Endeavour Silver (EXK and EDR); he turns a round-number this week; thank you, Hugh you, for contributing vastly to my monetary wealth here at home … and to my growing wealth of knowledge about silver, about Mexico and about coolness.
Read Thom’s Reports
THOM CALANDRA is a principal of Torrey Hills Capital and a lifelong journalist. He co-founded CBS MarketWatch and FT MarketWatch. (Also, co-founder of Stockhouse’s Ticker Trax) His reviews of natural resources companies are found on this Baby Bulls, at the Cambridge Cafe, on GATA.org and on Stockhouse. Also: The Gold Report, 321Gold.com and other publishers of metals material. Thom is an investor and a speaker for Cambridge House in Canada and the New Orleans Investment Conference. Thom also speaks in San Francisco, New York and in Europe. He lives with his family in California.
December 15, 2011
Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) continues to report significant gold intercepts at its Kibi Gold Project in Ghana, as evidenced by drill results from the most recent 26 drill holes across 6,713 metres. Highlights include:
- 17 metres grading 5.47 grams per tonne (“g/t”) gold, including 12.66 g/t gold over 4 metres, in #KBDD11172 from 127 metres down-hole (Big Bend Zone);
- 24.5 metres grading 3.43 g/t gold, including 4.70 g/t gold over 17 metres, in #KBDD11176 from 165.5 metres down-hole (East Dyke-North Zone); and
- 20 metres grading 2.82 g/t gold in #KBDD11157 from 92 metres down-hole (Mushroom Zone – Upper Central Granitoid).
November 21, 2011
Thom Calandra, a long-time journalist and mining investor, knows what risks to stomach in search of jaw-dropping returns. Geopolitical risk, for one. Karen Roche of The Gold Report caught up with him at The New Orleans Investment Conference to see what this 30-year veteran of analyzing financial markets took away from the event. In this interview, Calandra revealed what mining gems he’ll be eyeing for his portfolio and why he’ll never invest without setting foot on a project first.
The Gold Report: Thom, you’ve been able to identify some tenfold-return candidates in Ghana, Colombia, Sierra Leone, Quebec and Ethiopia. What creates a candidate that can give you a 10x return and how does one find these candidates?
Thom Calandra: Karen, I’ve been a financial journalist for 30 years. I’ve focused entirely on natural resources for the past 12 years. I’m also a very heavy investor and I do some investor relations on the side. That combination gives me the ability to meet people a retail investor might not. I like to think I know most of the companies out there with interesting projects.
November 9, 2011
Xtra-Gold Resources (OTCBB: XTGR; TSX: XTG) continues to (i) confirm the down-plunge continuity and the multiple vein package structural style of the Big Bend gold zone and (ii) demonstrate the multiple gold deposit potential within Zone 2 of the Company’s wholly-owned Kibi Gold Project in Ghana, West Africa. To date, the Company has completed 70 drill holes totaling 18,932 metres of a planned 20,000 metre drill program, of which assays have been reported on 50 drill holes. Significantly, upon completion of the current drill program, a subsequent 20,000 metre drill program will be initiated later this month. Long story short, the Company likes what it sees in the current drill program and wants to continue to aggressively drill and delineate the potential of this asset.
Highlights from the most recently assayed diamond core holes include the following:
- 62 metres of 1.57 g/t gold, including 2.00 g/t gold over 42 metres (and including 2.76 g/t gold over 19 metres) in #KBDD11141 from 232 metres down-hole (Big Bend Zone);
- 41 metres grading 1.62 g/t gold, including 2.18 g/t gold over 20 metres, in #KBDD11143 from 249 metres down-hole (East Dyke-North Zone);
- Big Bend Zone now traced over approximately 325 metre strike length and 500 metre down plunge from surface within the Central Granitoid body;
- South Ridge Gold Zone extended 170 metres further down dip than from 2010 drilling; gold mineralization now traced over distances of approximately 440 metres along the strike and 400 metres down the dip of the South Ridge Granitoid body;
- New typical Kibi-type granitoid hosted vein system (i.e. Road Cut Zone) discovered in diorite body located 60 metres due south of the Central Granitoid’s Big Bend Zone; and
- Second diamond drill rig contracted to accelerate delineation/infill drilling of the Big Bend Zone and East Dyke — North Zone geared towards an initial resource estimate.
With more assays expected from the current and planned drill programs, Xtra-Gold will have continuous news flow, which we expect will continue to include strong grades across wide intercepts.
October 25, 2011
Xtra-Gold Resources (OTCBBB: XTGR; TSX: XTG) received a positive, preliminary metallurgy report from SGS South Africa (Pty) Ltd. in connection with a gold deportment study aimed at characterizing the gold in sulphide and oxide (saprolite) mineralization from the Big Bend Gold Zone in order to make recommendations on a process route to maximize gold recoveries.
According to SGS, the following are certain of their preliminary conclusions:
“The gold in the G478923 gold ore samples (3.49 g/t Au) is highly amenable to cyanidation leaching with ~97% recoverable by means of direct cyanidation. This ore is also amenable to gravity upgrading, with ~67% of the gold recovered at a mass pull of ~3%. In the gravity concentrate (97.5 g/t Au), a total of 143 particulate gold grains were observed in the gravity concentrate of this sample.”
“The grading analysis on the G478923 gold ore sample indicated a very high upgrading of gold in the +106 micrometre size fraction (~69%). This indicates that the gold is either large gold grains or locked in large gold-bearing particles. From the liberation and mineral association characteristics determined by QEMSCAN, on the gravity concentrate, the gold was found to be ~63% liberated and ~25% was associated with pyrite. This indicates that the gold is either large, liberated gold grains or locked in large gold-bearing pyrite particles.”
October 14, 2011
ThomCalandra – Resource investors do see things in this mediocre metals equities market. But those things have to be big.
PMI Gold’s rip higher Friday, and overnight in Australia, came after the Ghana prospector nearly tripled its global resource at Obotan. I toured the project in May and bought 40,000 shares in August at 44 cents Canadian. (See first report.)
PMI’s (TSX: V.PMV, Stock Forum) 3.2 million ounce measured-indicated resource is the documented lay-up to what will become an actual mine at the historic Nkran pit, which is crawling with alluvial miners and ancient workings. (Photo: Obotan – Thom Calandra) When I was there, PMI’s team, led by seven-year-Ghana tried-and-true country manager Neil Macfarlane, was so eager to drill the bejeebers out of the Obotan pit, it was relying on a transported rig from nearby Keegan Resources (TSX: T.KGN, Stock Forum and KGN) at its Esaase project.