October 18, 2011
Scorpio Gold Corporation (TSX-V: SGN; OTC Other: SRCRF) announced today initial drill results from the Brodie Zone at the 70% owned Mineral Ridge project, Nevada including intersects of 12.91 g/t gold over 3.05 Metres that ended in mineralization.
In the release, Peter J. Hawley, President and CEO stated, “Our initial drilling on the Brodie Zone, located 975 metres (3,200 feet) southwest of the Drinkwater pit, has intersected mineralization of interest, in particular drill hole MR11210, which terminated in high-grade mineralization. Additional drilling on the Brodie Zone is planned following review and compilation of the latest results together with historical drilling. Meanwhile, the drill has moved to the Wedge Zone for initial drill testing in that area.”
September 14, 2011
Calgary, Alberta: September 14, 2011 Mkango Resources Ltd. (TSX-V: MKA) announced today that it has intersected significant near surface zones of rare earth mineralisation at its Songwe project in Malawi, with zones of higher grade mineralisation and elevated heavy rare earth enrichment also identified.
Mkango has received assay results from ten of its 13 hole Stage 1 drilling programme. Apart from PX023 and PX024, which were vertical holes, drill holes were inclined (60-70 degrees), and were all collared on the north – eastern slopes of Songwe hill, which rises approximately 230m above the surrounding plain.
Highlights of drill results include:
- 117.4m grading 1.6% TREO (184.8 – 302.2m)
- 57.5m grading 3.8%TREO
- 113.8m grading 1.7% TREO
- 178.5m grading 1.3% TREO
- 113.9m grading 1.8% TREO
- 84.9m grading 1.0% TREO
- 89.7m grading 1.6% TREO
- 89.0m grading 1.5% TREO
August 24, 2011
Kitco News Interview Highlights:
QE3 Would Ignite Silver Silver has been in a massive uptrend for last year says Saxena and it has completed its consolidation phase, says Saxena. “The technicals for silver look super here and if and when Bernanke does QE3 – silver is going to ignite,” he says. Saxena says at the moment roughly 15% of assets he manages are allocated in physical silver.
“We warned about a big silver correction in April when everybody thought silver was going to 400-500,” says Saxena. He started buying silver again at the $33-$34 mark and recently added some more to his portfolio last week, he says.
August 24, 2011
It was fun while it lasted, but it looks as though the gold trade is finally unwinding. The precious metal booked a record high close just two days ago, settling at $1,891.90 an ounce on Monday. Today it took a fast and furious 5.6% dive to close at $1,757.30/oz; its biggest single-day drop since March 2008.
What’s been curious about the recent rush to gold is that gold mining stocks weren’t taken along for the ride higher. “There’s long been a knock on the miners,” says Ryan Detrick of Schaeffer’s Investment Research. “Gold is making multi-year highs but the miners aren’t.”
A simple comparison chart shows spot Gold leading the Market Vectors Gold Miners ETF (GDX) by about 30% on a year-to-date and 1-year basis. But as relative strength in miners improves and the world’s favorite safe haven plunges, Detrick says it might be time for “a catch-up buy.”
August 22, 2011
Nemaska Exploration Inc. (TSX-NMX and OTCQX: NMKEF) recently made available a very cool 3D virtual tour of their 100-per-cent owned Whabouchi Lithium project in the James Bay area of Northern Quebec. The Whabouchi lithium deposit is known to be one of the largest resources of its kind in the world (M&I resources of 25-million tonnes at an average grade of 1.54 per cent lithium).
Nemaska is pressing forward with an aggressive development plan for the Whabouchi property. Permitting began in the summer of 2011. Engineering, ground preparation, the ordering of large equipment units and construction activities will begin in 2012.
Having already secured a $3.7-million private placement deal with the Chengdu Tianqi Industry Group, (Chengdoo Shiangqi) owner of the largest lithium battery chemical producer in China, Nemaska plans to start production of the mine in 2013.
This 3D Virtual Tour is extremely well done and gives the viewer a very good understanding of the economics and upside potential at Whabouchi.
August 9, 2011
So let’s see . . . The GATA Conference, which I predicted would be “THE MOST IMPORTANT FINANCIAL CONFERENCE EVER”, concluded on Saturday, and in the first 24 hours of trading gold rose from $1,662 to $1,780, blowing away ALL-TIME HIGHS in essentially every currency on earth. Ironically, the $1,650 “initial target” set by Jim Sinclair roughly three years ago was reached two days before the conference, while his $1,764 ‘point of no return’ level, at which a parabolic explosion becomes a certainty, was hit just a day later, and convincingly so. In other words, no matter what happens to the price today (care of relentless Cartel attacks, particularly in collaboration with the Fed’s rate decision at 2:15 pm EST), the “SINCLAIR OMEN” was passed, essentially ushering in the official unshackling of the hyperinflation Kraken.
Sinclair’s reasoning, although a bit complex as it combines both mathematics and psychology, is that $1,764 gold numerically represents the level at which CONFIDENCE in fiat currencies ruptures the threshold at which order turns to disorder, threatening not just financial market, but REAL WORLD stability. Can one possibly think it a coincidence that widespread rioting in London commenced just as gold reached this level (thank god we left Sunday), in a country historically viewed as among the world’s most civilized?
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July 11, 2011
It only took MINUTES from my last post for the Cartel to see the same thing – i.e. FEAR – and VIOLENTLY ATTACK GOLD AND SILVER IN A 10-minute period that I have rarely seen before, even from them.
This is now ALL-OUT WAR, as the END GAME has COMMENCED (per my RANT on Friday).
As you can see, the parabolic move was halted nearly IMMEDIATELY after the 8:20 am COMEX open with a FLOOD OF ILLEGAL, UNBACKED PAPER SHORTS, with the STAGE 2 VIOLENT ATTACK COMMENCING IMMEDIATELY AFTER THE 10:00 am LONDON PM fix!
Readers, do you remember this chart from my “Summer Doldrums” rant of less than two weeks ago?