Celeste Copper Corp. (CVE:C) reported its chief operating officer was recently interviewed in a West Briton article, the company said Tuesday.
Chris Davie, in the interview, talked about the significance of the South Crofty tin mine to England’s economy.
Davie,
who brings more than 40 years’ worth of mining experience, in the
article, said the mine has “tremendous potential to reform the South
West economy.”
He grew up in Sussex before moving to Cornwall at
age 16. After graduating from Camborne School of Mines, he helped design
the mill operation at nearby Wheal Jane.
Prior to this, Davie
has worked in tin mining in East Africa before working in gold for
Canadian and U.S. based mining companies.
On July 5, the company
announced "very encouraging" drill results from its on-going program at
the South Crofty project in England, including five metres of 0.89% tin
equivalent (Sn Eq) in hole DD1132.
Highlights include significant
results from holes DD1127 to DD129, holes DD132, 135, 140 to 144, and
holes DD1201, 02 and 04, which include results of eight metres at 0.51
per cent Sn Eq, 14.86 metres at 0.51 per cent Sn Eq and 5.78 metres at
0.61 per cent Sn Eq.
Earlier this month Celeste closed a deal to
acquire 25 per cent of Cornish Minerals Ltd., the operating subsidiary
that controls South Crofty. It has the right to ultimately earn 100 per
cent of the company.
It also closed a $2.52 million share placing to support its plans for the mine.
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
Tuesday, 31 July 2012
Prophecy Platinum to raise $7.25 mln in private financing
Prophecy Platinum Corp. (CVE:NKL) said Tuesday it has closed a $7.25 million non-brokered private financing.
The company plans to sell 5.06 million units priced at $1.20 each to generate about $6.08 million. It added each unit consists of one share and one-half purchase warrant valid for two years.
The warrant gives the holder a right to buy one extra share priced at $1.50 each in the first year, and $2.00 per share in the second year.
It also plans to sell 807,655 flow-through shares priced at $1.45 each generating proceeds of roughly $1.17 million.
Finder’s fees may be paid, the company said.
Proceeds will go toward the company’s flagship Wellgreen project in the Yukon, and its other properties, in addition to general working capital.
Separately, the company reported roughly two weeks ago that it officially purchased nickel and copper producer Ursa Major Minerals.
The junior natural resource miner said the deal was completed Monday, July 16.
The merger, which was first announced on March 1, will create a mid-tier resource company with a pipeline of platinum and nickel projects including the Shakespeare nickel-copper mine near Sudbury, and the Wellgreen project, in Yukon Territory and Manitoba’s Lynn Lake.
Shakespeare has a probable reserve of 11.82 million tonnes grading 0.33% nickel, 0.35% copper and 0.02% cobalt with 0.33 grams per tonne (g/t) platinum. This includes 0.36 g/t palladium and 0.18 g/t gold.
The Wellgreen project in the Yukon has over 10 million ounces of platinum-palladium-gold inferred resource. Active drilling is ongoing with a pending preliminary economic assessment study.
Manitoba's Lynn Lake nickel-copper project has over 262 million pounds of nickel and 138 million pounds of copper in the measured and indicated categories.
Prophecy is a Canadian nickel and platinum group metals exploration miner with projects in Canada, Argentina and Uruguay. In Canada, it holds the Lynn Lake project in Manitoba, as well as Wellgreen.
The company plans to sell 5.06 million units priced at $1.20 each to generate about $6.08 million. It added each unit consists of one share and one-half purchase warrant valid for two years.
The warrant gives the holder a right to buy one extra share priced at $1.50 each in the first year, and $2.00 per share in the second year.
It also plans to sell 807,655 flow-through shares priced at $1.45 each generating proceeds of roughly $1.17 million.
Finder’s fees may be paid, the company said.
Proceeds will go toward the company’s flagship Wellgreen project in the Yukon, and its other properties, in addition to general working capital.
Separately, the company reported roughly two weeks ago that it officially purchased nickel and copper producer Ursa Major Minerals.
The junior natural resource miner said the deal was completed Monday, July 16.
The merger, which was first announced on March 1, will create a mid-tier resource company with a pipeline of platinum and nickel projects including the Shakespeare nickel-copper mine near Sudbury, and the Wellgreen project, in Yukon Territory and Manitoba’s Lynn Lake.
Shakespeare has a probable reserve of 11.82 million tonnes grading 0.33% nickel, 0.35% copper and 0.02% cobalt with 0.33 grams per tonne (g/t) platinum. This includes 0.36 g/t palladium and 0.18 g/t gold.
The Wellgreen project in the Yukon has over 10 million ounces of platinum-palladium-gold inferred resource. Active drilling is ongoing with a pending preliminary economic assessment study.
Manitoba's Lynn Lake nickel-copper project has over 262 million pounds of nickel and 138 million pounds of copper in the measured and indicated categories.
Prophecy is a Canadian nickel and platinum group metals exploration miner with projects in Canada, Argentina and Uruguay. In Canada, it holds the Lynn Lake project in Manitoba, as well as Wellgreen.
Sacre-Coeur Minerals to sell core drill to Riverside Resources
Guyana-focused Sacre-Coeur Minerals (CVE:SCM) struck a deal with Riverside Resources (CVE:RRI) to sell a core drill, the company said.
Financial terms of the deal were not disclosed in Tuesday’s statement.
The drill, which is one of three, has been in storage. The company can opt to buy the drill back, and can also act as agent to sell the drill to a third party.
According to the deal, if after 120 days Sacre-Coeur has not repurchased or sold the drill to a third party, Riverside shall be entitled to put the drill back for the purchase price plus a 15 per cent premium.
Sacre-Coeur Minerals plans to use the proceeds from the sale of the drill toward working capital as well as general corporate purposes.
The company, in addition, plans to update an NI 43-101 resource estimate for its Million Mountain Zone hard rock resource, as it seeks to move forward to evaluate production and commercial potential of the deposit.
The Million Mountain property hosts a resource of 12.1 million tonnes with gold grades of one gram per tonne (g/t) in the measured category, alongside 2.17 million tonnes grading 0.9 g/t gold in the indicated category, totalling 451,000 troy ounces gold combined.
Sacre-Coeur has been exploring for gold in Guyana South America since 2005. It has narrowed its focus to two major holdings known as Lower Puruni and the Northwest District Block.
Financial terms of the deal were not disclosed in Tuesday’s statement.
The drill, which is one of three, has been in storage. The company can opt to buy the drill back, and can also act as agent to sell the drill to a third party.
According to the deal, if after 120 days Sacre-Coeur has not repurchased or sold the drill to a third party, Riverside shall be entitled to put the drill back for the purchase price plus a 15 per cent premium.
Sacre-Coeur Minerals plans to use the proceeds from the sale of the drill toward working capital as well as general corporate purposes.
The company, in addition, plans to update an NI 43-101 resource estimate for its Million Mountain Zone hard rock resource, as it seeks to move forward to evaluate production and commercial potential of the deposit.
The Million Mountain property hosts a resource of 12.1 million tonnes with gold grades of one gram per tonne (g/t) in the measured category, alongside 2.17 million tonnes grading 0.9 g/t gold in the indicated category, totalling 451,000 troy ounces gold combined.
Sacre-Coeur has been exploring for gold in Guyana South America since 2005. It has narrowed its focus to two major holdings known as Lower Puruni and the Northwest District Block.
Otis Gold boosts resources at Kilgore gold deposit by 138%
Otis Gold Corp. (CVE:OOO)
(OTCQX:OGLDF) unveiled Tuesday an updated NI 43-101 resource estimate
for its Kilgore gold deposit located in Clark County, Idaho.
The Kilgore gold deposit contains an indicated resource of 520,000 ounces gold in 27.35 million tonnes at a grade of 0.59 grams per tonne (g/t) gold, representing an increase of 138 per cent in the number of ounces and 328 per cent in the number of tonnes compared to the deposit’s 2002 estimate.
Additionally, Kilgore has an inferred resource of 300,000 ounces gold in 20.23 million tonnes at a grade of 0.46 g/t gold, representing an increase of 12 per cent in the number of ounces and 131 per cent in the number of tonnes versus the 2002 estimate.
The company noted that this is its first resource estimate since acquiring the property in late 2008. It includes all historical drilling plus an additional 92 core holes drilled between 2008 through 2011, and uses a gold cut-off grade of 0.24 g/t.
“The markedly increased size of this resource provides Otis with a solid foundation upon which to build additional resources through planned drilling in areas where open-ended mineralization of significant thickness exists,” said president and CEO Craig Lindsay.
“Further, the newly expanded size of the deposit, its overall shallow depth and excellent potential for further growth, coupled with its extremely attractive metallurgy, are all positive attributes that support the potential economic viability of the deposit.”
Otis said that results its drilling programs have moved previously defined inferred resources into the indicated category and have added new resources to both the indicated and inferred categories.
Separately, in an operational update, the company said that the U.S. Forest Service, Caribou-Targhee National Forest, issued a permit to Otis at the end of May to conduct a 14 to 20-hole program consisting of 4,000 metres of HQ core drilling.
Furthermore, Otis said it is in the process of performing a cultural survey and preparing a plan of operation to build 1,350 metres of new roads into the North area of the deposit, which is defined by seven significant gold-in-soil anomalies and several open-ended mineralized holes with over 100-metre-thick intercepts averaging up to 0.89 g/t gold.
“The Kilgore gold deposit is the foundation of a very strong gold company,” said Lindsay.
“Our geologic team has already begun designing programs to both expand the deposit and test several additional high priority targets on the property.
“Otis plans to increase the number of targets under evaluation and aggressively search for new deposits with the ultimate goal of developing the property into a large-scale gold district.”
The company noted it has also received permits to drill on six sites at the Gold Ridge target, located one kilometre northwest of, and on strike with, Kilgore. This target has never been drilled and will require helicopter support, as no drill access roads are currently available in the area.
Otis stressed that exploration and drill programs will be initiated based on market conditions and the ability to raise additional capital at a reasonable price.
The Canadian mineral exploration company is focused on the acquisition and development of precious metal deposits in Idaho, U.S.
The Kilgore gold project is 5,130 acres in size, is 100-per-cent-owned by Otis and is subject to no underlying royalties.
An important achievement for the company this year was the addition of 1,880 acres, boosting its land position at Kilgore by 58 per cent and giving the miner flat land that is appropriate for heap leach processing.
The Kilgore gold deposit contains an indicated resource of 520,000 ounces gold in 27.35 million tonnes at a grade of 0.59 grams per tonne (g/t) gold, representing an increase of 138 per cent in the number of ounces and 328 per cent in the number of tonnes compared to the deposit’s 2002 estimate.
Additionally, Kilgore has an inferred resource of 300,000 ounces gold in 20.23 million tonnes at a grade of 0.46 g/t gold, representing an increase of 12 per cent in the number of ounces and 131 per cent in the number of tonnes versus the 2002 estimate.
The company noted that this is its first resource estimate since acquiring the property in late 2008. It includes all historical drilling plus an additional 92 core holes drilled between 2008 through 2011, and uses a gold cut-off grade of 0.24 g/t.
“The markedly increased size of this resource provides Otis with a solid foundation upon which to build additional resources through planned drilling in areas where open-ended mineralization of significant thickness exists,” said president and CEO Craig Lindsay.
“Further, the newly expanded size of the deposit, its overall shallow depth and excellent potential for further growth, coupled with its extremely attractive metallurgy, are all positive attributes that support the potential economic viability of the deposit.”
Otis said that results its drilling programs have moved previously defined inferred resources into the indicated category and have added new resources to both the indicated and inferred categories.
Separately, in an operational update, the company said that the U.S. Forest Service, Caribou-Targhee National Forest, issued a permit to Otis at the end of May to conduct a 14 to 20-hole program consisting of 4,000 metres of HQ core drilling.
Furthermore, Otis said it is in the process of performing a cultural survey and preparing a plan of operation to build 1,350 metres of new roads into the North area of the deposit, which is defined by seven significant gold-in-soil anomalies and several open-ended mineralized holes with over 100-metre-thick intercepts averaging up to 0.89 g/t gold.
“The Kilgore gold deposit is the foundation of a very strong gold company,” said Lindsay.
“Our geologic team has already begun designing programs to both expand the deposit and test several additional high priority targets on the property.
“Otis plans to increase the number of targets under evaluation and aggressively search for new deposits with the ultimate goal of developing the property into a large-scale gold district.”
The company noted it has also received permits to drill on six sites at the Gold Ridge target, located one kilometre northwest of, and on strike with, Kilgore. This target has never been drilled and will require helicopter support, as no drill access roads are currently available in the area.
Otis stressed that exploration and drill programs will be initiated based on market conditions and the ability to raise additional capital at a reasonable price.
The Canadian mineral exploration company is focused on the acquisition and development of precious metal deposits in Idaho, U.S.
The Kilgore gold project is 5,130 acres in size, is 100-per-cent-owned by Otis and is subject to no underlying royalties.
An important achievement for the company this year was the addition of 1,880 acres, boosting its land position at Kilgore by 58 per cent and giving the miner flat land that is appropriate for heap leach processing.
Gener8’s technology takes the guesswork out of 3D conversion
In the world of 3D conversion, Gener8 is at the top of its game.
Incorporated in February 2011, the stereoscopic 3D conversion company has become one of the few studios in the world capable of delivering stereo conversion for an entire feature-length film.
Gener8 was formed by media veterans who all come from technology/math/game creation backgrounds.
Gener8’s work includes top tier feature films such as 'The Chronicles of Narnia: Voyage of the Dawn Treader', 'Harry Potter and the Deathly Hallows: Part 2' and 'Ghost Rider: Spirit of Vengeance'. Clients include Sony Pictures, Warner Bros, Twentieth Century Fox, Columbia Pictures and more.
The company’s goal from day one has been to make it easy for its clients to convert 2D films to high-quality 3D, and to create a “new category” in the 3D world around the art of creating virtual 3D.
To that end, Gener8’s G83D division uses its own stereoscopic 3D conversion system, which the company says can meet or beat natively-shot 3D - films shot with actual 2-lens camera rigs.
Conventional methods of conversion generally use a process called displacement mapping, a 2D technique where the outline of an object is used to push its shape forward in space, creating a pixel shift in the left and right eye.
Gener8’s COO, Tim Bennison, says the resulting 3D effect from the displacement method “...often appears embossed, similar to a popup book due to the inaccurate relationships in space between objects in the scene, and incorrect outlines around objects”.
Alternatively, Gener8’s technology allows G83D to reconstruct a virtual 3D set of the environment, actors and effects.
Next, G83D animates virtual stereo cameras and projects the original shot onto the virtual set.
The process begins with the creation of a virtual camera to match moves madeby the on-set camera. Static objects including buildings, parked cars and terrain are then positioned in 3D space using the virtual camera.
Bennison says that by sharing this virtual camera and reconstructed set with visual effects (VFX) vendors, G83D and the VFX vendors are able to work in parallel and share subsequent assets.
G83D’s rotomation process takes animated objects such as people and moving cars and animates them in 3D to match the movement in the shot.
Then, using Stereo Composer, G83D’s proprietary conversion software, a stereo virtual camera is constructed. The reconstructed set and rotomation are combined with the live action background and a new, left and right eye background is generated.
Finally, the virtual stereo camera and converted background are used by the VFX vendor to generate their computer generated (CG) elements in stereo and compose the final shot.
G83D takes the guesswork out of spatial relationships and means that complex visual effects and hair shots have natural volume and depth, with no artifacts.
Bennison says the process seamlessly integrates with shots filmed using native stereo 3D camera rigs, providing filmmakers with far more flexibility in cases when shooting in native 3D isn't possible or shots need to be fixed.
The company says that even on a native 3D production, there is a need for conversion as in some cases there are physical limitations to where a stereo camera rig can fit. Other factors such as camera misalignment and lens mismatches can also compromise a finished product.
Gener8 notes that VFX and G83D can work in parallel, giving directors more time to work without sacrificing 3D quality and resulting in higher quality while remaining more cost-effective
The company typically achieves 95 percent first-time shot approval rates, and its recent projects include 'The Amazing Spider-Man'.
Gener8 says it was asked to convert certain scenes and because of its reconstruction and projection method, the results “were indistinguishable” from the natively shot footage.
“Although Sony filmed it in native 3D, 'The Amazing Spider-Man' needed some scenes converted during post production,” says CEO Rory Armes.
“More important, Gener8's work on this film helped solidify our relationship with Sony.”
Prior to that, Gener8 had a hand in 'Prometheus', released in June, the prequel to the iconic 'Alien' movie.
The company notes that Prometheus was entirely shot in native 3D but a few shots needed some conversion, including VFX element conversion.
Looking ahead, because of the large volume of work coming in, starting in September Gener8 says it is working on an expansion plan for its studio to grow the company’s capacity.
Gener8’s reach is also expanding globally, having recently partnered with the Sahara conglomerate to create a 3D promotional trailer for 'Mr. India', one of the Indian film industry's biggest-ever blockbusters.
Incorporated in February 2011, the stereoscopic 3D conversion company has become one of the few studios in the world capable of delivering stereo conversion for an entire feature-length film.
Gener8 was formed by media veterans who all come from technology/math/game creation backgrounds.
Gener8’s work includes top tier feature films such as 'The Chronicles of Narnia: Voyage of the Dawn Treader', 'Harry Potter and the Deathly Hallows: Part 2' and 'Ghost Rider: Spirit of Vengeance'. Clients include Sony Pictures, Warner Bros, Twentieth Century Fox, Columbia Pictures and more.
The company’s goal from day one has been to make it easy for its clients to convert 2D films to high-quality 3D, and to create a “new category” in the 3D world around the art of creating virtual 3D.
To that end, Gener8’s G83D division uses its own stereoscopic 3D conversion system, which the company says can meet or beat natively-shot 3D - films shot with actual 2-lens camera rigs.
Conventional methods of conversion generally use a process called displacement mapping, a 2D technique where the outline of an object is used to push its shape forward in space, creating a pixel shift in the left and right eye.
Gener8’s COO, Tim Bennison, says the resulting 3D effect from the displacement method “...often appears embossed, similar to a popup book due to the inaccurate relationships in space between objects in the scene, and incorrect outlines around objects”.
Alternatively, Gener8’s technology allows G83D to reconstruct a virtual 3D set of the environment, actors and effects.
Next, G83D animates virtual stereo cameras and projects the original shot onto the virtual set.
The process begins with the creation of a virtual camera to match moves madeby the on-set camera. Static objects including buildings, parked cars and terrain are then positioned in 3D space using the virtual camera.
Bennison says that by sharing this virtual camera and reconstructed set with visual effects (VFX) vendors, G83D and the VFX vendors are able to work in parallel and share subsequent assets.
G83D’s rotomation process takes animated objects such as people and moving cars and animates them in 3D to match the movement in the shot.
Then, using Stereo Composer, G83D’s proprietary conversion software, a stereo virtual camera is constructed. The reconstructed set and rotomation are combined with the live action background and a new, left and right eye background is generated.
Finally, the virtual stereo camera and converted background are used by the VFX vendor to generate their computer generated (CG) elements in stereo and compose the final shot.
G83D takes the guesswork out of spatial relationships and means that complex visual effects and hair shots have natural volume and depth, with no artifacts.
Bennison says the process seamlessly integrates with shots filmed using native stereo 3D camera rigs, providing filmmakers with far more flexibility in cases when shooting in native 3D isn't possible or shots need to be fixed.
The company says that even on a native 3D production, there is a need for conversion as in some cases there are physical limitations to where a stereo camera rig can fit. Other factors such as camera misalignment and lens mismatches can also compromise a finished product.
Gener8 notes that VFX and G83D can work in parallel, giving directors more time to work without sacrificing 3D quality and resulting in higher quality while remaining more cost-effective
The company typically achieves 95 percent first-time shot approval rates, and its recent projects include 'The Amazing Spider-Man'.
Gener8 says it was asked to convert certain scenes and because of its reconstruction and projection method, the results “were indistinguishable” from the natively shot footage.
“Although Sony filmed it in native 3D, 'The Amazing Spider-Man' needed some scenes converted during post production,” says CEO Rory Armes.
“More important, Gener8's work on this film helped solidify our relationship with Sony.”
Prior to that, Gener8 had a hand in 'Prometheus', released in June, the prequel to the iconic 'Alien' movie.
The company notes that Prometheus was entirely shot in native 3D but a few shots needed some conversion, including VFX element conversion.
Looking ahead, because of the large volume of work coming in, starting in September Gener8 says it is working on an expansion plan for its studio to grow the company’s capacity.
Gener8’s reach is also expanding globally, having recently partnered with the Sahara conglomerate to create a 3D promotional trailer for 'Mr. India', one of the Indian film industry's biggest-ever blockbusters.
Monday, 30 July 2012
Rubicon Minerals adds Rowlandson to board of directors
Rubicon Minerals Corp. (TSE:RMX)(NYSE-MKT:RBY) Monday announced the appointment of Peter Rowlandson as a director.
Rowlandson has over 30 years extensive and varied experience in the development and operation of gold mining operations in Ontario.
His experience in the management of chiefly underground gold mining operations includes 12 years managing the
Hemlo mining operations for Williams Operating Corp. between 1990 and 2002; the position of mine manager at the Bell Creek and Marl Hill mines in Timmins between 1989 and 1990; general manager of the Timmins Division with Pamour between 1986 and 1989 and senior managerial positions at the Pamour Mine from 1978-1986.
He is also past chairman of the Ontario Mining Association.
"We are delighted that Peter has agreed to join the board of Rubicon. He adds valuable operating experience gained from a wide variety of profitable Ontario gold mines operated by both small and large mining companies," Rubicon's president and COO Mike Lalonde said.
"Peter's appointment is part of our ongoing commitment to ensure that Rubicon transitions successfully through the development and potential future production of our F2 Gold Deposit in Red Lake, Ontario."
Rubicon is an exploration and development company focused on developing its flagship Phoenix Gold Project in Red Lake, Ontario. The project is fully permitted and Rubicon is fully funded to develop the project.
In mid-July, the company reported highly encouraging results from its underground drilling programme on the F2 system, which is part of the Phoenix Gold project in Ontario.
The highlights included a metre section grading at 198.6 grams per tonne of the precious metal, two metres at 55.8 grams and five metres at 25.3 grams.
Rowlandson has over 30 years extensive and varied experience in the development and operation of gold mining operations in Ontario.
His experience in the management of chiefly underground gold mining operations includes 12 years managing the
Hemlo mining operations for Williams Operating Corp. between 1990 and 2002; the position of mine manager at the Bell Creek and Marl Hill mines in Timmins between 1989 and 1990; general manager of the Timmins Division with Pamour between 1986 and 1989 and senior managerial positions at the Pamour Mine from 1978-1986.
He is also past chairman of the Ontario Mining Association.
"We are delighted that Peter has agreed to join the board of Rubicon. He adds valuable operating experience gained from a wide variety of profitable Ontario gold mines operated by both small and large mining companies," Rubicon's president and COO Mike Lalonde said.
"Peter's appointment is part of our ongoing commitment to ensure that Rubicon transitions successfully through the development and potential future production of our F2 Gold Deposit in Red Lake, Ontario."
Rubicon is an exploration and development company focused on developing its flagship Phoenix Gold Project in Red Lake, Ontario. The project is fully permitted and Rubicon is fully funded to develop the project.
In mid-July, the company reported highly encouraging results from its underground drilling programme on the F2 system, which is part of the Phoenix Gold project in Ontario.
The highlights included a metre section grading at 198.6 grams per tonne of the precious metal, two metres at 55.8 grams and five metres at 25.3 grams.
OncoSec Medical gets ISO 13485 certification for electroporation devices
OncoSec Medical (OTC:ONCS)
has received International Organization for Standards 13485
certification for the design and distribution of its electroporation
devices.
The San Diego, California-based biopharmaceutical company offers patients alternative treatments to existing therapies to treat cancerous tumours and cells.
Companies who get ISO 13485 certification must demonstrate an ability to provide medical devices and related services that meet customer and regulatory requirements.
OncoSec's review was conducted by SGS, an inspection, verification and certification company helping companies to become more efficient.
“The ISO certification is a significant accomplishment and an important milestone for OncoSec,” OncoSec's chief executive Punit Dhillon said in a statement.
“Certification affirms our quality management system meets the highest standards and strengthens OncoSec's commitment to product quality and development.
“With this certification in place, OncoSec is now one major step closer to obtaining the CE (European Conformity) Marking necessary for commercialization in Europe.”
OncoSec’s electroporation device, the OncoSec Medical System, is now being used in three on-going clinical trials to treat metastatic melanoma, Merkel cell carcinoma and cutaneous T-cell lymphoma.
The device has also been used in Europe in Phase IV clinical trials to treat head and neck cancer and cutaneous and subcutaneous skin cancers.
OncoSec’s electroOncology therapies address an unmet medical need and are a less invasive and less expensive therapy able to minimize the harsh effects caused by chemotherapy and immunotherapy treatments.
Its electroporation delivery system applies short electric pulses to cells, which open the pores and cell membranes and allow efficient and safe delivery of immunotherapy or chemotherapy agents to treat a range of solid tumour cancers.
The San Diego, California-based biopharmaceutical company offers patients alternative treatments to existing therapies to treat cancerous tumours and cells.
Companies who get ISO 13485 certification must demonstrate an ability to provide medical devices and related services that meet customer and regulatory requirements.
OncoSec's review was conducted by SGS, an inspection, verification and certification company helping companies to become more efficient.
“The ISO certification is a significant accomplishment and an important milestone for OncoSec,” OncoSec's chief executive Punit Dhillon said in a statement.
“Certification affirms our quality management system meets the highest standards and strengthens OncoSec's commitment to product quality and development.
“With this certification in place, OncoSec is now one major step closer to obtaining the CE (European Conformity) Marking necessary for commercialization in Europe.”
OncoSec’s electroporation device, the OncoSec Medical System, is now being used in three on-going clinical trials to treat metastatic melanoma, Merkel cell carcinoma and cutaneous T-cell lymphoma.
The device has also been used in Europe in Phase IV clinical trials to treat head and neck cancer and cutaneous and subcutaneous skin cancers.
OncoSec’s electroOncology therapies address an unmet medical need and are a less invasive and less expensive therapy able to minimize the harsh effects caused by chemotherapy and immunotherapy treatments.
Its electroporation delivery system applies short electric pulses to cells, which open the pores and cell membranes and allow efficient and safe delivery of immunotherapy or chemotherapy agents to treat a range of solid tumour cancers.
Fission Energy unveils Waterbury J-Zone drill results
Fission Energy Corp. (CVE:FIS) disclosed the latest assay results from its 2012 winter drill program from the J-Zone Waterbury Lake property on Monday.
The Waterbury Lake property covers 40,256 hectares in Saskatchewan’s Athabasca Basin. Fission has a 60 per cent stake in the joint venture project, with Korea Waterbury Uranium holding the remaining 40 per cent.
The junior natural resource miner said 36 of 49 step-out and infill holes hit mineralization returning assay grades at a 0.05% cut-off. The J-Zone’s east-west strike length now extends 667 metres from the Rio Tinto property boundary to the west to drill hole Wat 12-281.
Among the highlights, J-Zone area B drill hole Wat 12-242 returned 1.37% Uranium at nine metres. This includes 3.72% Uranium at 1.50 metres and 2.64% Uranium at 1.50 metres. Drill hole Wat 12-244 intersected 1.97% Uranium at 5.50 metres. This includes 9.61% Uranium at just one metre and 0.28% Uranium at four metres.
Hole Wat 12-247, meanwhile, intersected 1.05% Uranium at eight metres. This includes 2.22% Uranium at three metres.
“Results continue to demonstrate the significant potential for growing the J Zone,” said Fission Energy chief operating officer Ross McElroy.
J-Zone area C returned 0.20% Uranium at 23 metres in drill hole Wat 12-226. This also includes 0.64% Uranium at three metres, and 0.27% Uranium at three metres.
Drill hole Wat 12-228 intersected 0.31% Uranium at 12.5 metres, including 1.22% Uranium at just one metre. This includes 0.66% Uranium at 1.5 metres.
Fission had budgeted $30 million for exploration at Waterbury Lake over a three year period from 2010 through 2012.
Full details can be viewed at http://www.fission-energy.com/s/WaterburyLake.asp
The Waterbury Lake property covers 40,256 hectares in Saskatchewan’s Athabasca Basin. Fission has a 60 per cent stake in the joint venture project, with Korea Waterbury Uranium holding the remaining 40 per cent.
The junior natural resource miner said 36 of 49 step-out and infill holes hit mineralization returning assay grades at a 0.05% cut-off. The J-Zone’s east-west strike length now extends 667 metres from the Rio Tinto property boundary to the west to drill hole Wat 12-281.
Among the highlights, J-Zone area B drill hole Wat 12-242 returned 1.37% Uranium at nine metres. This includes 3.72% Uranium at 1.50 metres and 2.64% Uranium at 1.50 metres. Drill hole Wat 12-244 intersected 1.97% Uranium at 5.50 metres. This includes 9.61% Uranium at just one metre and 0.28% Uranium at four metres.
Hole Wat 12-247, meanwhile, intersected 1.05% Uranium at eight metres. This includes 2.22% Uranium at three metres.
“Results continue to demonstrate the significant potential for growing the J Zone,” said Fission Energy chief operating officer Ross McElroy.
J-Zone area C returned 0.20% Uranium at 23 metres in drill hole Wat 12-226. This also includes 0.64% Uranium at three metres, and 0.27% Uranium at three metres.
Drill hole Wat 12-228 intersected 0.31% Uranium at 12.5 metres, including 1.22% Uranium at just one metre. This includes 0.66% Uranium at 1.5 metres.
Fission had budgeted $30 million for exploration at Waterbury Lake over a three year period from 2010 through 2012.
Full details can be viewed at http://www.fission-energy.com/s/WaterburyLake.asp
Friday, 27 July 2012
Asante Gold sees massive opportunity to find more projects like Fahiakoba in Ghana
Asante Gold (CVE:ASE)
is looking to expand its portfolio of exploration assets and take
advantage of the current challenging junior market conditions, which CEO
Douglas MacQuarrie sees as a “massive opportunity”.
The company is also focused this year on advancing its Fahiakoba concession in Ghana, where there is currently a 1,200 auger-hole soil geochemical drill program underway, designed to outline additional drill targets.
The junior gold explorer launched its 5,000 metre maiden diamond drill program at the property in March after its IPO in February, and based on early positive drill results decided to complete additional exploration before continuing the program.
First pass results from the drilling included intersections of 0.50 metres at 289.50 grams per tonne (g/t) gold, 0.65 metres of 11.1 g/t gold and 1 metre of 7.34 g/t gold, all within a few hundred metres of surface.
But the 1,200 hole auger drilling program, with samples located 25 metres apart, is designed to better define regional geophysical targets so that the company can drill step outs on the “successful holes”, and target new areas.
MacQuarrie says the auger geochemical program will run for around another month, at which point the balance of the 5,000 metre diamond drilling program will start.
Asante noted last month that results were received from 399 auger soil holes with values up to 650 parts per billion (ppb) gold, and 19 anomalous samples forming two 500 to 650 metre-long new target areas. More samples are still due in.
MacQuarrie says the concession was never drilled before, has no previous showings, with drilling done by the company so far based entirely on geophysical work.
The property’s neighbour, Perseus Mining (TSE:PRU), recently started a regional exploration program on Asante’s eastern boundary, exploring along two major shear zones, both of which cross through Asante’s concession, its CEO says.
“Their line cutting is underway as we speak. Hopefully, they will find something spectacular on our mutual boundary,” says MacQuarrie.
The Fahiakoba concession, a 22.07 square kilometre prospecting license, is located on strike with and between Perseus Mining's 4.32 million ounce Edikan Mine and AngloGold Ashanti's (NYSE:AU) 60 million ounce Obuasi mine. The northeast corner of the property rests just 14 kilometres from the AngloGold Obuasi mine, the longest producing, highest grade and largest gold resource in West Africa.
Aside from the Fahiakoba concession, Asante’s priority this year is to expand its footprint, as MacQuarrie says the company is looking at potential acquisitions.
“Hopefully we will be able to expand in the next few months through acquisitions – ones with excellent exploration upside,” says MacQuarrie, whose background is in geology and geophysics, adding that he “likes to find” deposits.
“Most of the easy ones in Ghana have already been found. The next new discoveries will require a bit more work, and a lot of geophysics – to look deeper,” he says.
Factors that played into the purchase of Fahiakoba included the presence of major amounts of alluvial gold in a river that flows right down the middle of the property. Large alluvial dredges operated on the river from the 1920’s thru the 1960’s, asserts MacQuarrie.
“Gold doesn’t normally travel very far from its source, and we believe it’s not washed down too far along the river.”
MacQuarrie sees the market right now as a perfect opportunity to acquire other properties like the one it has in Ghana.
“There are far too many small companies right now, and it is almost impossible for them to all find financing, but many of these businesses actually have good, undervalued assets.
“For those juniors that can raise funds, it creates a massive opportunity. When gold is down, and people start groaning, it is amazing what becomes available.”
Asante is currently looking at several opportunities, and MacQuarrie says he is “absolutely happy” to jump when the time is right.
The company’s CEO is a long-term bull on gold, and says the yellow metal is “the best game in town”.
“World trade can only continue as long as there is ‘good’ money to settle trades. This means we must find a new world standard currency, and we believe gold will be a part of this. Gold must be revalued upwards.”
“An investment in the right junior gold stock over the next five years will just be spectacular,” MacQuarrie argues.
“So whether by a Black Swan event in China or Europe, or some US Treasury auction does not go well, we’ll see a revaluation of gold almost overnight.”
This confidence extends to Asante Gold as well, as MacQuarrie believes that somewhere down the line, the gold explorer will “bite into a significant drill hole or project”, and will be able to capitalize on it when it does.
The high grades and narrow widths seen so far at Fahiakoba bode well for the project, Asante’s CEO says. "In mining, grade is king’ and these smaller, high grade type deposits can generally be brought into production with low capex, and can be funded entirely by equity.
“The current market is not favourable to high capex/high debt projects. There is a niche market for a new company with high grades and modest capex that targets paying a yield over time.”
On the other hand, if the project turns out to be a lower grade bulk mineable type deposit, there is “fairly obvious tee up” potential, MacQuarrie concludes.
Asante, with around $1 million of cash and the ability to bring in another $1 to $2 million in warrants, is currently changing hands at around 30 cents on the TSX Venture Exchange.
The company is also focused this year on advancing its Fahiakoba concession in Ghana, where there is currently a 1,200 auger-hole soil geochemical drill program underway, designed to outline additional drill targets.
The junior gold explorer launched its 5,000 metre maiden diamond drill program at the property in March after its IPO in February, and based on early positive drill results decided to complete additional exploration before continuing the program.
First pass results from the drilling included intersections of 0.50 metres at 289.50 grams per tonne (g/t) gold, 0.65 metres of 11.1 g/t gold and 1 metre of 7.34 g/t gold, all within a few hundred metres of surface.
But the 1,200 hole auger drilling program, with samples located 25 metres apart, is designed to better define regional geophysical targets so that the company can drill step outs on the “successful holes”, and target new areas.
MacQuarrie says the auger geochemical program will run for around another month, at which point the balance of the 5,000 metre diamond drilling program will start.
Asante noted last month that results were received from 399 auger soil holes with values up to 650 parts per billion (ppb) gold, and 19 anomalous samples forming two 500 to 650 metre-long new target areas. More samples are still due in.
MacQuarrie says the concession was never drilled before, has no previous showings, with drilling done by the company so far based entirely on geophysical work.
The property’s neighbour, Perseus Mining (TSE:PRU), recently started a regional exploration program on Asante’s eastern boundary, exploring along two major shear zones, both of which cross through Asante’s concession, its CEO says.
“Their line cutting is underway as we speak. Hopefully, they will find something spectacular on our mutual boundary,” says MacQuarrie.
The Fahiakoba concession, a 22.07 square kilometre prospecting license, is located on strike with and between Perseus Mining's 4.32 million ounce Edikan Mine and AngloGold Ashanti's (NYSE:AU) 60 million ounce Obuasi mine. The northeast corner of the property rests just 14 kilometres from the AngloGold Obuasi mine, the longest producing, highest grade and largest gold resource in West Africa.
Aside from the Fahiakoba concession, Asante’s priority this year is to expand its footprint, as MacQuarrie says the company is looking at potential acquisitions.
“Hopefully we will be able to expand in the next few months through acquisitions – ones with excellent exploration upside,” says MacQuarrie, whose background is in geology and geophysics, adding that he “likes to find” deposits.
“Most of the easy ones in Ghana have already been found. The next new discoveries will require a bit more work, and a lot of geophysics – to look deeper,” he says.
Factors that played into the purchase of Fahiakoba included the presence of major amounts of alluvial gold in a river that flows right down the middle of the property. Large alluvial dredges operated on the river from the 1920’s thru the 1960’s, asserts MacQuarrie.
“Gold doesn’t normally travel very far from its source, and we believe it’s not washed down too far along the river.”
MacQuarrie sees the market right now as a perfect opportunity to acquire other properties like the one it has in Ghana.
“There are far too many small companies right now, and it is almost impossible for them to all find financing, but many of these businesses actually have good, undervalued assets.
“For those juniors that can raise funds, it creates a massive opportunity. When gold is down, and people start groaning, it is amazing what becomes available.”
Asante is currently looking at several opportunities, and MacQuarrie says he is “absolutely happy” to jump when the time is right.
The company’s CEO is a long-term bull on gold, and says the yellow metal is “the best game in town”.
“World trade can only continue as long as there is ‘good’ money to settle trades. This means we must find a new world standard currency, and we believe gold will be a part of this. Gold must be revalued upwards.”
“An investment in the right junior gold stock over the next five years will just be spectacular,” MacQuarrie argues.
“So whether by a Black Swan event in China or Europe, or some US Treasury auction does not go well, we’ll see a revaluation of gold almost overnight.”
This confidence extends to Asante Gold as well, as MacQuarrie believes that somewhere down the line, the gold explorer will “bite into a significant drill hole or project”, and will be able to capitalize on it when it does.
The high grades and narrow widths seen so far at Fahiakoba bode well for the project, Asante’s CEO says. "In mining, grade is king’ and these smaller, high grade type deposits can generally be brought into production with low capex, and can be funded entirely by equity.
“The current market is not favourable to high capex/high debt projects. There is a niche market for a new company with high grades and modest capex that targets paying a yield over time.”
On the other hand, if the project turns out to be a lower grade bulk mineable type deposit, there is “fairly obvious tee up” potential, MacQuarrie concludes.
Asante, with around $1 million of cash and the ability to bring in another $1 to $2 million in warrants, is currently changing hands at around 30 cents on the TSX Venture Exchange.
Plato Gold sells 50% of Guibord property in Ontario
Plato Gold
Corp. (CVE:PGC) reported yesterday that it has sold a 50 per cent
interest in 16 claims, known as the Guibord property in Ontario, to
Victory Gold Mines (CNSX:VGO) and St Andrew Goldfields (TSE:SAS).
The 16 claims will be owned 40 per cent by Victory Gold and 10 per cent by St Andrew, with Plato retaining control of the remaining 50 per cent.
Plato will get $40,000 and 1.0 million shares of Victory Gold.
The agreement also provides options to both Victory Gold and St Andrews.
Victory Gold has the right to own a 60 per cent interest in the Guibord properties, if it spends a minimum of $700,000 in exploration expenditures on the property within three years, and Plato receives $100,000 in cash or Victory Gold shares, at Plato's option.
If the option was exercised, Victory Gold would have a 60 per cent stake, St Andrew would hold 15 per cent and Plato would have the remaining 25 per cent.
After two years of the closing of the deal, Victory Gold will give notice to St Andrew and Plato as to whether it intends to exercise its option by the third anniversary.
If Victory decides not to, St Andrew has an option to spend a minimum of $200,000 in exploration expenditures within three years, and Plato will receive from Victory $100,000 in cash or shares, at Plato's option.
If completed, the final ownership in the Guibord property will be see Victory Gold take 50 per cent, St Andrew take 25 per cent, and Plato take 25 per cent.
A 2 per cent net smelter royalty will remain with the property, one per cent of which can be bought back for $500,000.
Plato Gold has a portfolio of properties in gold mining camps in northern Ontario, northern Quebec and Santa Cruz, Argentina.
The northern Ontario project includes 4 properties - Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario.
In November 2010, Plato signed a deal granting St Andrew the option to earn a 75 per cent interest in the properties.
The northern Quebec project includes 7 properties - Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Vauquelin II.
Plato also signed in November 2010 an agreement giving Threegold Resources the option to earn a 75 per cent interest in two of the above properties.
In Argentina, the company holds 75 per cent of the Lolita property comprised of contiguous mineral rights totaling 27,857 hectares. Work is advancing on this property with a drill program anticipated for 2012.
The 16 claims will be owned 40 per cent by Victory Gold and 10 per cent by St Andrew, with Plato retaining control of the remaining 50 per cent.
Plato will get $40,000 and 1.0 million shares of Victory Gold.
The agreement also provides options to both Victory Gold and St Andrews.
Victory Gold has the right to own a 60 per cent interest in the Guibord properties, if it spends a minimum of $700,000 in exploration expenditures on the property within three years, and Plato receives $100,000 in cash or Victory Gold shares, at Plato's option.
If the option was exercised, Victory Gold would have a 60 per cent stake, St Andrew would hold 15 per cent and Plato would have the remaining 25 per cent.
After two years of the closing of the deal, Victory Gold will give notice to St Andrew and Plato as to whether it intends to exercise its option by the third anniversary.
If Victory decides not to, St Andrew has an option to spend a minimum of $200,000 in exploration expenditures within three years, and Plato will receive from Victory $100,000 in cash or shares, at Plato's option.
If completed, the final ownership in the Guibord property will be see Victory Gold take 50 per cent, St Andrew take 25 per cent, and Plato take 25 per cent.
A 2 per cent net smelter royalty will remain with the property, one per cent of which can be bought back for $500,000.
Plato Gold has a portfolio of properties in gold mining camps in northern Ontario, northern Quebec and Santa Cruz, Argentina.
The northern Ontario project includes 4 properties - Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario.
In November 2010, Plato signed a deal granting St Andrew the option to earn a 75 per cent interest in the properties.
The northern Quebec project includes 7 properties - Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Vauquelin II.
Plato also signed in November 2010 an agreement giving Threegold Resources the option to earn a 75 per cent interest in two of the above properties.
In Argentina, the company holds 75 per cent of the Lolita property comprised of contiguous mineral rights totaling 27,857 hectares. Work is advancing on this property with a drill program anticipated for 2012.
Great Western Minerals launches PEA for Steenkampskraal
Great Western Minerals (CVE:GWG)(OTCQX:GWMGF)
announced Thursday the launch of a preliminary economic assessment for
its Steenkampskraal rare earth element project in South Africa,
contracting Snowden Mining Industry Consultants to complete the study.
Snowden was chosen for the project as it is familiar with the South African mining and legislative environment, Great Western said.
The company also completed the National Instrument 43-101 technical report and resource calculation for the past-producing Steenkampskraal project.
"The engagement of Snowden to complete the PEA will enable our company to further develop and communicate financial projections for our complete corporate structure based on independent analysis of the mining of rare earth-bearing monazite, extraction to mixed chloride, separation of oxides, and metal and alloy production, as encompassed by our fully integrated, value-added business model," said Great Western`s president and CEO, Jim Engdahl.
In early July, the company reported on the latest phase of its drill program at Steenkampskraal, that doubled the area of interest at the site.
The most recent drill intercepts were from four areas surrounding the main mine workings, all outside the previously reported NI 43-101 resource calculation.
In May, the company said its NI 43-101 report indicated the presence of 13,823.64 metric tonnes of total rare earth oxides (TREO), including yttrium, under the indicated resource category, and 14,147.76 metric tonnes under the inferred resource category, each using a one per cent cut-off grade.
Among the highlights of the Western Extension drill program, REE-bearing monazite vein mineralization was encountered in seven of eight drill holes and mineralization was up to 3.73 metres true thickness.
The historic mine "vein" at Steenkampskraal is comprised predominantly of a rare earth-bearing monazite. The vein is variably south-dipping, and was developed over a strike length of approximately 400 metres.
Past production, and extensive assaying from the first phase of drilling and underground sampling, indicates that the monazite vein material at Steenkampskraal contains from 0.4 to 46% TREO with a modeled average of 18%, the company noted.
Great Western Minerals is an integrated rare earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries.
Snowden was chosen for the project as it is familiar with the South African mining and legislative environment, Great Western said.
The company also completed the National Instrument 43-101 technical report and resource calculation for the past-producing Steenkampskraal project.
"The engagement of Snowden to complete the PEA will enable our company to further develop and communicate financial projections for our complete corporate structure based on independent analysis of the mining of rare earth-bearing monazite, extraction to mixed chloride, separation of oxides, and metal and alloy production, as encompassed by our fully integrated, value-added business model," said Great Western`s president and CEO, Jim Engdahl.
In early July, the company reported on the latest phase of its drill program at Steenkampskraal, that doubled the area of interest at the site.
The most recent drill intercepts were from four areas surrounding the main mine workings, all outside the previously reported NI 43-101 resource calculation.
In May, the company said its NI 43-101 report indicated the presence of 13,823.64 metric tonnes of total rare earth oxides (TREO), including yttrium, under the indicated resource category, and 14,147.76 metric tonnes under the inferred resource category, each using a one per cent cut-off grade.
Among the highlights of the Western Extension drill program, REE-bearing monazite vein mineralization was encountered in seven of eight drill holes and mineralization was up to 3.73 metres true thickness.
The historic mine "vein" at Steenkampskraal is comprised predominantly of a rare earth-bearing monazite. The vein is variably south-dipping, and was developed over a strike length of approximately 400 metres.
Past production, and extensive assaying from the first phase of drilling and underground sampling, indicates that the monazite vein material at Steenkampskraal contains from 0.4 to 46% TREO with a modeled average of 18%, the company noted.
Great Western Minerals is an integrated rare earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries.
Thursday, 26 July 2012
Cayden hits 20 metres of high grade gold in new trench at La Magnetita
Cayden Resources (CVE:CYD)
announced Thursday high grade gold in a new trench from its La
Magnetita target at the Morelos Sur gold project in central Guerrero
State, Mexico.
Highlights include 20 metres of 6.39 grams per tonne (g/t) gold, including 6 metres of 14.4 g/t gold.
Also, further along the trench, Cayden said it intercepted 27 metres of 0.48 g/t gold, and 17 metres of 0.62 g/t gold.
The intercepts are located in the western portion of the 7.3 square kilometre gold in soil anomaly outlined earlier this year.
Cayden has already begun drilling one of the western anomaly targets and is currently awaiting results, it said.
Additional trench samples from both the eastern and western anomaly targets have also been completed, with results pending as well.
"We continue to be very excited about these indications of high grade results from the La Magnetita trenches and we look forward to testing the depth extensions with our current drill program," said president and CEO, Ivan Bebek.
"While drilling the western portion of the La Magnetita anomaly we are completing extensive trenching and surface exploration on the eastern portion of the significant La Magnetita anomaly where we expect results shortly."
Earlier this month, the company said it received more than 2,000 additional results from its La Magnetita soil program, increasing the area of the gold-in-soil anomaly to over 7.3 square kilometres.
It was previously though the anomaly extended up to 5 km in an east-west direction.
In June, the first batch of trench assays from the La Magnetita prospect included 24 metres of 1.65 g/t gold, 25 metres of 0.72 g/t gold, and 25 metres of 0.52 g/t gold.
Cayden currently has three projects located in Guerrero and Jalisco, Mexico, and Nevada, USA.
Highlights include 20 metres of 6.39 grams per tonne (g/t) gold, including 6 metres of 14.4 g/t gold.
Also, further along the trench, Cayden said it intercepted 27 metres of 0.48 g/t gold, and 17 metres of 0.62 g/t gold.
The intercepts are located in the western portion of the 7.3 square kilometre gold in soil anomaly outlined earlier this year.
Cayden has already begun drilling one of the western anomaly targets and is currently awaiting results, it said.
Additional trench samples from both the eastern and western anomaly targets have also been completed, with results pending as well.
"We continue to be very excited about these indications of high grade results from the La Magnetita trenches and we look forward to testing the depth extensions with our current drill program," said president and CEO, Ivan Bebek.
"While drilling the western portion of the La Magnetita anomaly we are completing extensive trenching and surface exploration on the eastern portion of the significant La Magnetita anomaly where we expect results shortly."
Earlier this month, the company said it received more than 2,000 additional results from its La Magnetita soil program, increasing the area of the gold-in-soil anomaly to over 7.3 square kilometres.
It was previously though the anomaly extended up to 5 km in an east-west direction.
In June, the first batch of trench assays from the La Magnetita prospect included 24 metres of 1.65 g/t gold, 25 metres of 0.72 g/t gold, and 25 metres of 0.52 g/t gold.
Cayden currently has three projects located in Guerrero and Jalisco, Mexico, and Nevada, USA.
Black Iron hits 46.5 metres of 35.1% iron at Shymanivske
Toronto-based iron ore explorer Black Iron (TSE:BKI) unveiled late Wednesday additional results from its diamond drill program at the company's Shymanivske project in the Ukraine.
The company said it continues to be "encouraged" from the results of the definition and exploration program, intersecting thick iron bands in each hole, with grades of up to 35% iron.
Of note, hole BISH-72 intersected 46.5 metres grading 35.1% iron and 20.0 metres grading 24.4% iron.
The two drill holes released were part of a 12,000 metre definition and exploration drill program conducted by the company between July and December last year.
Black Iron said the campaign is expected to result in a portion of the resources previously classified as inferred to move into the measured and indicated category in the next NI 43-101 compliant resource report.
Ukraine-based Mekhanobrchermet (Research Institute of Mineral Processing in Ferrous Metals) completed the independent metallurgical test work on the recovered drill core from the program.
As announced previously, the company noted again Wednesday that still no drilling is underway at Shymanivske until it obtains additional permits required to drill.
However, it also noted that additional drilling is not required to complete the feasibility study, which would be conducted in the future to potentially boost the in pit resource estimate.
Black Iron is an iron ore exploration and development company advancing its 100 percent-owned Shymanivske project located in Kryviy Rih, Ukraine.
Last week, the company released more results from the project, with hole BISH-31 intersecting 60.2 metres grading 35.2% iron and 141.0 metres grading 32.3% iron, including 95.0 metres grading 33.3% iron.
The project contains a NI 43-101 compliant resource with 373 million tonnes measured and indicated mineral resources grading 31.3% iron and 480 million tonnes of inferred mineral resources grading 30.2% iron.
The company believes that existing infrastructure, including access to power, rail and port facilities, will allow for a quick development timeline to production.
Black Iron also holds an exploration permit for the adjacent Zelenivske project which it intends to further explore to determine its potential.
The company said it continues to be "encouraged" from the results of the definition and exploration program, intersecting thick iron bands in each hole, with grades of up to 35% iron.
Of note, hole BISH-72 intersected 46.5 metres grading 35.1% iron and 20.0 metres grading 24.4% iron.
The two drill holes released were part of a 12,000 metre definition and exploration drill program conducted by the company between July and December last year.
Black Iron said the campaign is expected to result in a portion of the resources previously classified as inferred to move into the measured and indicated category in the next NI 43-101 compliant resource report.
Ukraine-based Mekhanobrchermet (Research Institute of Mineral Processing in Ferrous Metals) completed the independent metallurgical test work on the recovered drill core from the program.
As announced previously, the company noted again Wednesday that still no drilling is underway at Shymanivske until it obtains additional permits required to drill.
However, it also noted that additional drilling is not required to complete the feasibility study, which would be conducted in the future to potentially boost the in pit resource estimate.
Black Iron is an iron ore exploration and development company advancing its 100 percent-owned Shymanivske project located in Kryviy Rih, Ukraine.
Last week, the company released more results from the project, with hole BISH-31 intersecting 60.2 metres grading 35.2% iron and 141.0 metres grading 32.3% iron, including 95.0 metres grading 33.3% iron.
The project contains a NI 43-101 compliant resource with 373 million tonnes measured and indicated mineral resources grading 31.3% iron and 480 million tonnes of inferred mineral resources grading 30.2% iron.
The company believes that existing infrastructure, including access to power, rail and port facilities, will allow for a quick development timeline to production.
Black Iron also holds an exploration permit for the adjacent Zelenivske project which it intends to further explore to determine its potential.
Newcastle Minerals says NY85 Capital begins drilling at Carscallen project
Newcastle Minerals (CVE:NCM)
said Thursday that NY85 Capital has started a drill program on
Newcastle's 120 hectare Carscallen property in the West Timmins area of
Ontario.
NY85 Capital has the option to earn a 60-per-cent interest in the property by making total cash payments of $85,000 to Newcastle over a period of two years and issuing a total of 750,000 NY85 common shares.
In addition, NY85 Capital must spend exploration costs totaling $900,000 on the property over a period of three years.
In addition to Carscallen, Canadian gold explorer Newcastle is advancing its 11,100-hectare Pickle Lake property in northwestern Ontario, and its 6,898-hectare property in the Swayze greenstone belt of Ontario near Iamgold's Cote Lake deposit.
NY85 Capital has the option to earn a 60-per-cent interest in the property by making total cash payments of $85,000 to Newcastle over a period of two years and issuing a total of 750,000 NY85 common shares.
In addition, NY85 Capital must spend exploration costs totaling $900,000 on the property over a period of three years.
In addition to Carscallen, Canadian gold explorer Newcastle is advancing its 11,100-hectare Pickle Lake property in northwestern Ontario, and its 6,898-hectare property in the Swayze greenstone belt of Ontario near Iamgold's Cote Lake deposit.
Wednesday, 25 July 2012
Prophecy Platinum revises base case metals pricing assumptions for Wellgreen PEA
Prophecy Platinum Corp. (CVE:NKL) revised Wednesday its base case metals pricing assumptions for its Wellgreen Platinum group metals-Nickel-copper project in the Yukon.
The junior miner, which originally reported results from the preliminary economic assessment of the project on July 18, changed the base case metals pricing assumptions to the London Metals Exchange three year trailing averages from the Energy and Metals Consensus Forecast.
Prophecy said the decision was made as the long-term London Metals Exchange pricing method is more commonly adopted in base case studies.
It also noted that it is closer to spot metal pricing, "which offers investors a more balanced view of project economics."
The new base case pricing assumptions see Platinum at US$1,587 an ounce, compared with an LME spot price of US$1,468 per ounce and the prior EMCF assumption of US$2,043.50 an ounce.
The LME 3-year trailing price for copper is $3.56 per pound, versus an LME spot price of $3.49 per pound, and the prior EMCF assumption of $3.11 a pound.
The LME 3-year trailing price for Nickel is $9.48 a pound, compared with the LME spot price of $7.71 a pound, and the EMCF assumption of $10.82 a pound.
Using the new base assumptions, the project is now projected to have a net present value of $2.39 billion at an 8 per cent discount rate, a 32 per cent internal rate of return, and a 4.88 year payback period.
This compares with the prior EMCF results of a net present value of $3.04 billion, a 38 per cent internal rate of return, and a 3.55 year payback period.
The company advises that investors should rely on the new base case data. The PEA is expected to be filed on SEDAR in 7 days.
The project was initially expected to produce 1.95 billion pounds of Nickel in concentrate, 2.05 billion pounds of copper and 7.11 million ounces of Platinum plus palladium plus gold over a 37-year mine life, with an average strip ratio of 2.57.
The deposit will be processed using a concentrator to produce bulk Nickel-copper-Platinum group element concentrate.
The company said permits to start construction are anticipated to be obtained in 2016, with the production of concentrate expected to begin in 2019.
Last week, the mineral resource company announced that it officially acquired the Nickel and copper producer Ursa Major Minerals.
The merger, which was first announced on March 1, will create a mid-tier resource company with a pipeline of Platinum and Nickel projects, including the Shakespeare Nickel-copper mine near Sudbury, and the Wellgreen project, in Yukon Territory and Manitoba’s Lynn Lake.
Prophecy Platinum is a mineral exploration company focused on developing Platinum group metals and Nickel sulphide projects.
The junior miner, which originally reported results from the preliminary economic assessment of the project on July 18, changed the base case metals pricing assumptions to the London Metals Exchange three year trailing averages from the Energy and Metals Consensus Forecast.
Prophecy said the decision was made as the long-term London Metals Exchange pricing method is more commonly adopted in base case studies.
It also noted that it is closer to spot metal pricing, "which offers investors a more balanced view of project economics."
The new base case pricing assumptions see Platinum at US$1,587 an ounce, compared with an LME spot price of US$1,468 per ounce and the prior EMCF assumption of US$2,043.50 an ounce.
The LME 3-year trailing price for copper is $3.56 per pound, versus an LME spot price of $3.49 per pound, and the prior EMCF assumption of $3.11 a pound.
The LME 3-year trailing price for Nickel is $9.48 a pound, compared with the LME spot price of $7.71 a pound, and the EMCF assumption of $10.82 a pound.
Using the new base assumptions, the project is now projected to have a net present value of $2.39 billion at an 8 per cent discount rate, a 32 per cent internal rate of return, and a 4.88 year payback period.
This compares with the prior EMCF results of a net present value of $3.04 billion, a 38 per cent internal rate of return, and a 3.55 year payback period.
The company advises that investors should rely on the new base case data. The PEA is expected to be filed on SEDAR in 7 days.
The project was initially expected to produce 1.95 billion pounds of Nickel in concentrate, 2.05 billion pounds of copper and 7.11 million ounces of Platinum plus palladium plus gold over a 37-year mine life, with an average strip ratio of 2.57.
The deposit will be processed using a concentrator to produce bulk Nickel-copper-Platinum group element concentrate.
The company said permits to start construction are anticipated to be obtained in 2016, with the production of concentrate expected to begin in 2019.
Last week, the mineral resource company announced that it officially acquired the Nickel and copper producer Ursa Major Minerals.
The merger, which was first announced on March 1, will create a mid-tier resource company with a pipeline of Platinum and Nickel projects, including the Shakespeare Nickel-copper mine near Sudbury, and the Wellgreen project, in Yukon Territory and Manitoba’s Lynn Lake.
Prophecy Platinum is a mineral exploration company focused on developing Platinum group metals and Nickel sulphide projects.
Implant Sciences wins contract to supply more explosives trace detectors to China
Massachusetts-based Implant Sciences
Corp. (OTCQB:IMSC) announced Wednesday a contract to supply 11
additional explosives trace detectors to China for use by police
departments and bomb squads.
Company shares increased 8.15 per cent to $1.46 Wednesday afternoon.
The supplier of security systems and sensors to the homeland security and defence markets reported the sale of 11 Quantum Sniffer QS-H150 handheld explosives trace detectors to China.
The sale was made through Implant Sciences' in-country distributor and service provider, Beijing Ritchie Link. Implant has been selling explosives trace detection equipment in China since 2005.
"With hundreds of systems deployed in a wide variety of security applications across the country, our products have a well-established reputation for quality and reliability," said the company’s vice president of sales and marketing, Darryl Jones.
"It's that reputation that helps the QS-H150 maintain its position as one of the top choices in the Chinese security market."
President and CEO, Glenn D. Bolduc, added: "Implant Sciences' goal is to maintain its leadership role in the region as the market continues to evolve and grow."
The company announced yesterday that it was featured in an ABC affiliate news segment Monday for its explosives detection machines, where the ABC affiliate WCVB described it as “a Wilmington company on the front lines of airport security.”
According to the report, which took a look at how the detection machine’s technology works, Implant’s machines could be used in US airports within months.
The company stated it has developed new technology that can detect ever changing threats from terrorists. Importantly, the devices do not use any radioactive materials.
In the report, Implant staff says they believe their equipment can detect the chemical commonly used in underwear bombs laced with explosives or even implanted body bombs.
Implant's machines are currently under review by the Transportation Safety Authority and could appear in US airports in the next year.
The full report can be viewed by visiting http://www.wcvb.com/news/local/boston-north/New-airport-security-screening-machines/-/11984708/15639900/-/ylvoh5z/-/index.html.
The company has developed proprietary technologies used in its commercial explosive and narcotics trace detection systems, which ship to a growing number of locations domestically and internationally.
Its QS-H150 portable explosives trace detector has received qualified anti-terrorism technology designation and the company's QS-B220 desktop explosives and drugs trace detector has received a developmental testing and evaluation designation by the US Department of Homeland Security.
Company shares increased 8.15 per cent to $1.46 Wednesday afternoon.
The supplier of security systems and sensors to the homeland security and defence markets reported the sale of 11 Quantum Sniffer QS-H150 handheld explosives trace detectors to China.
The sale was made through Implant Sciences' in-country distributor and service provider, Beijing Ritchie Link. Implant has been selling explosives trace detection equipment in China since 2005.
"With hundreds of systems deployed in a wide variety of security applications across the country, our products have a well-established reputation for quality and reliability," said the company’s vice president of sales and marketing, Darryl Jones.
"It's that reputation that helps the QS-H150 maintain its position as one of the top choices in the Chinese security market."
President and CEO, Glenn D. Bolduc, added: "Implant Sciences' goal is to maintain its leadership role in the region as the market continues to evolve and grow."
The company announced yesterday that it was featured in an ABC affiliate news segment Monday for its explosives detection machines, where the ABC affiliate WCVB described it as “a Wilmington company on the front lines of airport security.”
According to the report, which took a look at how the detection machine’s technology works, Implant’s machines could be used in US airports within months.
The company stated it has developed new technology that can detect ever changing threats from terrorists. Importantly, the devices do not use any radioactive materials.
In the report, Implant staff says they believe their equipment can detect the chemical commonly used in underwear bombs laced with explosives or even implanted body bombs.
Implant's machines are currently under review by the Transportation Safety Authority and could appear in US airports in the next year.
The full report can be viewed by visiting http://www.wcvb.com/news/local/boston-north/New-airport-security-screening-machines/-/11984708/15639900/-/ylvoh5z/-/index.html.
The company has developed proprietary technologies used in its commercial explosive and narcotics trace detection systems, which ship to a growing number of locations domestically and internationally.
Its QS-H150 portable explosives trace detector has received qualified anti-terrorism technology designation and the company's QS-B220 desktop explosives and drugs trace detector has received a developmental testing and evaluation designation by the US Department of Homeland Security.
New Zealand Energy bulks up management team as it expands activities in the region
New Zealand Energy (CVE:NZ)
announced Wednesday a number of appointments to its management team, as
the oil and natural gas company increases its exploration and
production activities in New Zealand.
The expansion of its team includes the appointment of Bruce McIntyre to the position of executive director, Chris Bush to the role of New Zealand country manager, Mike Oakes to the role of general manager of midstream operations, and the appointment of Cliff Butchko to the position of general manager of upstream operations.
McIntyre has been president of New Zealand Energy since January 2011, and has been key to the company’s growth. As executive director, he will have the job of overseeing exploration and development opportunities and will continue to represent the company within the investment community.
Bush will start his role as New Zealand country manager in October of this year. He has more than 30 years of oil and gas experience in both upstream and downstream sectors in New Zealand, Australia, Canada and the United States, and his position will involve overseeing all aspects of the company’s in-country activities, such as government and community relations.
Prior to joining New Zealand Energy, Bush was New Zealand country manager/director at Origin Energy, where he helped establish its oil and gas business.
Oakes will start the role of general manager of midstream operations in early August, where he will be in charge of the producing wells and operation of the Waihapa Production Station. He also worked at Origin Energy, as asset manager and operational advisor where he oversaw the development and operation of the company’s oil and gas assets and production facilities.
Butchko, meanwhile, has been appointed general manager of upstream operations, after joining New Zealand Energy in March 2011. He has over 30 years practice as a professional engineer with oil and gas experience in both technical and business roles.
He will manage all site activities in his new position, including procurement of well hardware and drill rigs, construction and operation of pipelines, and drilling, completions and production activities.
"NZEC's ability to attract the industry's top professionals is testament to the prospectivity of our asset base and the strength of our team," said the company’s CEO, John Proust.
"With a significant exploration program set to begin in early August, NZEC is building the foundation to support continued growth in all areas of its business."
New Zealand Energy is focused on the production, development and exploration of petroleum and natural gas assets in New Zealand.
The company’s property portfolio collectively covers two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island.
At the beginning of July, the company announced that continuous production has begun at its Copper Moki-3 well on its 100 per cent-owned Eltham permit in the Taranaki Basin.
The company also said that its Copper Moki gas pipeline is complete and tied in to the Waihapa Production Station, with the operator finalizing arrangements to receive the gas.
Cash flow is expected to be generated from natural gas production this month.
The Waihapa Production Station will give the company strategic control over gathering, processing and sales infrastructure in the Taranaki Basin. The company expects to be able to quickly bring on its own near-term production additions, and also sees business opportunities for processing oil and gas from third-party producers in the region.
Company shares edged up 0.60 per cent to $1.69 Wednesday afternoon.
The expansion of its team includes the appointment of Bruce McIntyre to the position of executive director, Chris Bush to the role of New Zealand country manager, Mike Oakes to the role of general manager of midstream operations, and the appointment of Cliff Butchko to the position of general manager of upstream operations.
McIntyre has been president of New Zealand Energy since January 2011, and has been key to the company’s growth. As executive director, he will have the job of overseeing exploration and development opportunities and will continue to represent the company within the investment community.
Bush will start his role as New Zealand country manager in October of this year. He has more than 30 years of oil and gas experience in both upstream and downstream sectors in New Zealand, Australia, Canada and the United States, and his position will involve overseeing all aspects of the company’s in-country activities, such as government and community relations.
Prior to joining New Zealand Energy, Bush was New Zealand country manager/director at Origin Energy, where he helped establish its oil and gas business.
Oakes will start the role of general manager of midstream operations in early August, where he will be in charge of the producing wells and operation of the Waihapa Production Station. He also worked at Origin Energy, as asset manager and operational advisor where he oversaw the development and operation of the company’s oil and gas assets and production facilities.
Butchko, meanwhile, has been appointed general manager of upstream operations, after joining New Zealand Energy in March 2011. He has over 30 years practice as a professional engineer with oil and gas experience in both technical and business roles.
He will manage all site activities in his new position, including procurement of well hardware and drill rigs, construction and operation of pipelines, and drilling, completions and production activities.
"NZEC's ability to attract the industry's top professionals is testament to the prospectivity of our asset base and the strength of our team," said the company’s CEO, John Proust.
"With a significant exploration program set to begin in early August, NZEC is building the foundation to support continued growth in all areas of its business."
New Zealand Energy is focused on the production, development and exploration of petroleum and natural gas assets in New Zealand.
The company’s property portfolio collectively covers two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island.
At the beginning of July, the company announced that continuous production has begun at its Copper Moki-3 well on its 100 per cent-owned Eltham permit in the Taranaki Basin.
The company also said that its Copper Moki gas pipeline is complete and tied in to the Waihapa Production Station, with the operator finalizing arrangements to receive the gas.
Cash flow is expected to be generated from natural gas production this month.
The Waihapa Production Station will give the company strategic control over gathering, processing and sales infrastructure in the Taranaki Basin. The company expects to be able to quickly bring on its own near-term production additions, and also sees business opportunities for processing oil and gas from third-party producers in the region.
Company shares edged up 0.60 per cent to $1.69 Wednesday afternoon.
Kootenay Silver says updated Promontorio resource expected in August, additional targets found
Kootenay Silver (CVE:KTN)
reported Wednesday that drill hole analysis from over 40,000 metres of
drilling at its Promontorio project in Mexico has now been forwarded to a
third-party consulting company for the preparation of an updated NI
43-101 compliant resource estimate.
SRK Consulting received the analysis and geologic modeling from drilling on the Northeast zone, the Southwest zone and the Pit zone.
The analysis was done by Kootenay VP of Exploration, Dr. Tom Richards, in conjunction with the company's technical team.
The data included the separation and re-logging of core from a total of 191 individual drill holes, and an in-depth geological interpretation of previous results and how these results pertain to a diatreme system.
The recent definitive recognition of Promontorio as a silver, gold, lead and zinc diatreme system led to this completed work by the company.
A diatreme is a breccia-filled volcanic pipe or concave body that was formed by a gaseous explosion or hydrostatic forces.
What makes a diatreme system exciting is the upside potential, as some of the world’s largest precious metal deposits are hosted in diatremes, such as Goldcorp’s (TSE:G) Penasquito Mine in Mexico.
Diatreme systems can also keep producing new discoveries over a long period of time.
Kootenay said that the analysis shipped off determined that the gold component from the results at Promontorio represents a "significant" part of the diatreme system, and therefore needs to be quantified and evaluated.
"We are very pleased to conclude the resource modeling and in-depth analysis of drill core from Promontorio," said CEO James McDonald.
"Based on our findings, it is apparent the prospects for multiple, additional precious metal discoveries within Promontorio's diatreme system and lengthy mineralized trend are substantial."
Indeed, the company said several high priority existing and new drill targets have been identified within the diatreme system. This includes the Dorotea Zone, which is situated roughly 1,600 metres to the northwest of Promontorio's Pit resource.
The Dorotea Zone has been traced for more than 2 kilometres, and surface sampling and trenching indicate mineralization along at least 1,000 metres of its length.
Highlights from limited step-out drilling in 2009 included hole KP-56-08 that returned 34.5 metres grading 1.73 grams per tonne (g/t) gold and 74.83 g/t silver and 2.42% lead+zinc, including 9 metres grading 3.28 g/t gold and 173.40 g/t silver and 5.24% lead+zinc.
As a result of some brief delays from Kootenay's recent core analysis and geologic interpretation of Promontorio's diatreme system, the company said results from the SRK resource estimate are now expected to be completed in mid to late August.
The company also said that a recent regional exploration program on the 80,000 hectare Promontorio concession block resulted in new drill targets forming part of the 25 by 15 kilometre northwest trending Promontorio Belt.
Priority targets include the Nopalera, the Tordillo, the La Negra and the Leona zones.
The Nopalera area is comprised of 10 showing areas, five of which are at or near drill ready, the company said. In the zone, 19 grab samples averaged 4.78 g/t gold with values to 56 g/t gold and 197 g/t silver.
The La Negra zone, meanwhile, represents a diatreme breccia noted during a regional reconnaissance program, which gave values of 72, 29, 22, g/t silver with anomalous lead, and zinc, Kootenay said.
"The breccias are very similar to the Promontorio diatreme breccias and airborne geophysics suggests it could be similar in size," it added.
Kootenay Silver is developing mineral projects in the Sierra Madre region of Mexico and in British Columbia, Canada, with its flagship property being the Promontorio mine in Sonora State.
Currently, Promontorio itself hosts an NI 43-101-compliant resource containing 8.9 million indicated ounces of silver plus 1.17 million ounces of inferred silver, 99.3 million indicated pounds of lead plus 13.4 million inferred pounds of lead, and 110.8 million indicated pounds of zinc plus 14.3 million inferred pounds of zinc.
SRK Consulting received the analysis and geologic modeling from drilling on the Northeast zone, the Southwest zone and the Pit zone.
The analysis was done by Kootenay VP of Exploration, Dr. Tom Richards, in conjunction with the company's technical team.
The data included the separation and re-logging of core from a total of 191 individual drill holes, and an in-depth geological interpretation of previous results and how these results pertain to a diatreme system.
The recent definitive recognition of Promontorio as a silver, gold, lead and zinc diatreme system led to this completed work by the company.
A diatreme is a breccia-filled volcanic pipe or concave body that was formed by a gaseous explosion or hydrostatic forces.
What makes a diatreme system exciting is the upside potential, as some of the world’s largest precious metal deposits are hosted in diatremes, such as Goldcorp’s (TSE:G) Penasquito Mine in Mexico.
Diatreme systems can also keep producing new discoveries over a long period of time.
Kootenay said that the analysis shipped off determined that the gold component from the results at Promontorio represents a "significant" part of the diatreme system, and therefore needs to be quantified and evaluated.
"We are very pleased to conclude the resource modeling and in-depth analysis of drill core from Promontorio," said CEO James McDonald.
"Based on our findings, it is apparent the prospects for multiple, additional precious metal discoveries within Promontorio's diatreme system and lengthy mineralized trend are substantial."
Indeed, the company said several high priority existing and new drill targets have been identified within the diatreme system. This includes the Dorotea Zone, which is situated roughly 1,600 metres to the northwest of Promontorio's Pit resource.
The Dorotea Zone has been traced for more than 2 kilometres, and surface sampling and trenching indicate mineralization along at least 1,000 metres of its length.
Highlights from limited step-out drilling in 2009 included hole KP-56-08 that returned 34.5 metres grading 1.73 grams per tonne (g/t) gold and 74.83 g/t silver and 2.42% lead+zinc, including 9 metres grading 3.28 g/t gold and 173.40 g/t silver and 5.24% lead+zinc.
As a result of some brief delays from Kootenay's recent core analysis and geologic interpretation of Promontorio's diatreme system, the company said results from the SRK resource estimate are now expected to be completed in mid to late August.
The company also said that a recent regional exploration program on the 80,000 hectare Promontorio concession block resulted in new drill targets forming part of the 25 by 15 kilometre northwest trending Promontorio Belt.
Priority targets include the Nopalera, the Tordillo, the La Negra and the Leona zones.
The Nopalera area is comprised of 10 showing areas, five of which are at or near drill ready, the company said. In the zone, 19 grab samples averaged 4.78 g/t gold with values to 56 g/t gold and 197 g/t silver.
The La Negra zone, meanwhile, represents a diatreme breccia noted during a regional reconnaissance program, which gave values of 72, 29, 22, g/t silver with anomalous lead, and zinc, Kootenay said.
"The breccias are very similar to the Promontorio diatreme breccias and airborne geophysics suggests it could be similar in size," it added.
Kootenay Silver is developing mineral projects in the Sierra Madre region of Mexico and in British Columbia, Canada, with its flagship property being the Promontorio mine in Sonora State.
Currently, Promontorio itself hosts an NI 43-101-compliant resource containing 8.9 million indicated ounces of silver plus 1.17 million ounces of inferred silver, 99.3 million indicated pounds of lead plus 13.4 million inferred pounds of lead, and 110.8 million indicated pounds of zinc plus 14.3 million inferred pounds of zinc.
Bayfield Ventures expands eastern Burns Block area in Ontario
Bayfield Ventures
Corp. (CVE:BYV) (OTC:BYVVF) unveiled Wednesday additional results from
drilling in the eastern portion of its Burns Block property in
northwestern Ontario.
The company's 100 per cent owned Burns Block gold-silver project is located in the Rainy River District of north-western Ontario and is situated adjacent to the east and on strike to Rainy River Resources' (TSE:RR) multi-million ounce gold-silver deposit.
The miner reported today results from five holes that targeted potential extensions of the recently discovered East Burns mineralized zone, as well as one infill hole.
The East Burns gold-silver zone is the easterly strike extension of the main ODM17 gold-silver zone, which constitutes the bulk of Rainy River Resources' deposit and Bayfield's high grade gold-silver zones, which sit 600 to 700 metres to the west.
Highlights from the latest results include hole RR12-15, which intercepted 7.5 metres of 1.77 grams per tonne (g/t) gold and 6.32 g/t silver, and hole RR12-16, which hit 12.0 metres of 1.33 g/t gold.
Mineralization is being found "within a 50 to 70 metre wide zone of shearing, sericite-silica alteration and polymetallic base metal sulfide mineralization", Bayfield said in the release.
It also said this eastern area zone of mineralization remains open down dip and down the interpreted south-southwest plunge, adding that the zone is also open onto Rainy River's lands to the east.
Infill holes are currently being drilled with assays pending.
Bayfield noted that the assay results reported today show that gold and silver mineralization continue down dip at the eastern zone but have become "more disseminated in style and thus of lower grade."
The company said it is apparent now that the higher grade intervals reported from several previous holes are likely lying within low angle plunging mineralized shoots - a pattern seen in the west Burns Block area as well.
This has helped Bayfield identify additional drill targets in both the east and west Burns area that will be tested in the future, the miner added.
More exploration drilling of the down dip extension of the east Burns zone is planned once a program of infill drilling and western extension of the central portion of this new zone is completed.
Bayfield is fully funded to finish its planned 100,000 metre diamond drill program with drilling concentrated on the flagship Burns Block project. The company has 70.3 million shares outstanding and has over $4 million in its treasury.
The company's 100 per cent owned Burns Block gold-silver project is located in the Rainy River District of north-western Ontario and is situated adjacent to the east and on strike to Rainy River Resources' (TSE:RR) multi-million ounce gold-silver deposit.
The miner reported today results from five holes that targeted potential extensions of the recently discovered East Burns mineralized zone, as well as one infill hole.
The East Burns gold-silver zone is the easterly strike extension of the main ODM17 gold-silver zone, which constitutes the bulk of Rainy River Resources' deposit and Bayfield's high grade gold-silver zones, which sit 600 to 700 metres to the west.
Highlights from the latest results include hole RR12-15, which intercepted 7.5 metres of 1.77 grams per tonne (g/t) gold and 6.32 g/t silver, and hole RR12-16, which hit 12.0 metres of 1.33 g/t gold.
Mineralization is being found "within a 50 to 70 metre wide zone of shearing, sericite-silica alteration and polymetallic base metal sulfide mineralization", Bayfield said in the release.
It also said this eastern area zone of mineralization remains open down dip and down the interpreted south-southwest plunge, adding that the zone is also open onto Rainy River's lands to the east.
Infill holes are currently being drilled with assays pending.
Bayfield noted that the assay results reported today show that gold and silver mineralization continue down dip at the eastern zone but have become "more disseminated in style and thus of lower grade."
The company said it is apparent now that the higher grade intervals reported from several previous holes are likely lying within low angle plunging mineralized shoots - a pattern seen in the west Burns Block area as well.
This has helped Bayfield identify additional drill targets in both the east and west Burns area that will be tested in the future, the miner added.
More exploration drilling of the down dip extension of the east Burns zone is planned once a program of infill drilling and western extension of the central portion of this new zone is completed.
Bayfield is fully funded to finish its planned 100,000 metre diamond drill program with drilling concentrated on the flagship Burns Block project. The company has 70.3 million shares outstanding and has over $4 million in its treasury.
Curis Resources set for fast pace development of Florence copper project, expects improved recoveries
Curis Resources (TSE:CUV)
has a number of significant milestones to look forward to for its
Florence copper project in Arizona over the next year, with the miner
almost done wrapping up the permitting process for phase 1 operations at
the site.
The company's CEO, Michael McPhie, says two primary operating permits are required for phase 1. BHP Copper, the previous owner, secured full commercial operating permits for the project back in the late 1990s, and since that time Curis has been working with state and federal agencies to amend and update these for current operations.
The junior miner has already secured critical air, land and water permits for the project and the remaining state and federal permits for phase 1 are expected in the near term.
"It's really quite an exciting time for us," says McPhie. "We're trying to keep our heads down and get the final steps completed so we can begin construction in the weeks ahead."
The project, which is located in Central Arizona, hosts a measured and indicated oxide copper resource of 429 million tonnes grading 0.33 percent copper at a cut-off of 0.05 percent. It was previously owned by BHP Copper, who received all major operating permits necessary for commercial production of copper by in-situ recovery methods in 1998.
Once the updated state Aquifer Protection Permit (APP) and the federal Underground Injection Control (UIC) permits are approved in the coming weeks, Curis can develop a 24 well injection and copper recovery system and a "state of the art solvent extraction electro-winning plant" - otherwise known as phase 1 operations - with this production test facility (PTF) phase expected to last 18 months.
McPhie says that Curis had a public open house two weeks ago with regards to the state permit approval, which went "very, very well", with "lots of support shown from the community".
Construction of the in-situ copper recovery (ISR) well field and plant is anticipated to start in the third quarter, following the expected permit approval sometime this summer, with initial copper cathode production slated for early 2013.
McPhie notes that none of the permits needed are environmental assessments, with air and water approvals already in place. Curis holds sufficient water rights for its flagship copper property, which allows the company to utilize groundwater for in-situ copper recovery. As the majority of water used at Florence will be recycled, actual use of water is low in comparison to surrounding agricultural and related activities.
There are two key factors that limit the water used in the deposit-area. The first is a 20-40 foot thick impermeable clay layer within the overburden about 60 to 100 feet above the top of bedrock that contains the copper. This layer acts as an aquitard, preventing groundwater in aquifers above and below the layer from mixing, and helps protect the groundwater that is used for other purposes. Secondly, the copper extraction method involves pumping a mildly acidic solution through highly engineered wells hundreds of feet below surface into rocks that are naturally fractured. The copper-bearing solution is then recovered through a series of recovery wells and an inward hydraulic gradient is created that controls solution flow.
This process requires no movement of rock or overburden. There is therefore a substantially smaller footprint, with much less of an environmental impact on the surrounding area than with more traditional open pit mining operations. The technique also requires substantially less mechanical energy in the form of trucks and explosives, and therefore generates significantly lower operating and capital costs.
The company is already in the mode of hiring people for the phase 1 development program, and has made purchases relating to long lead-time items for copper processing facilities.
Construction for this phase is due to start in early September.
Though several million pounds of copper is expected over the life of the phase 1 program, McPhie says the 24 wells are relatively small in context of a full commercial operation, and the primary focus of the first phase is the "optimization and refinement of the development plan."
"Our aim is to further prove up all the engineering and environmental safeguards through the phase 1 program, with the intent to begin development of the commercial plant facility and well field, referred to as phase 2, by the end of 2013."
According to the latest timeline, the company could begin full commercial production by early 2015, after which it expects to produce between 55 and 84 million pounds of copper per year.
Curis anticipates having phase 2 commercial scale operating permit approvals well before it is ready to begin construction in late 2013, as the phase 2 permits will "really just be an extension of permits already in place."
With regards to financing its plans, the company recently secured a $40 million loan for its ISR copper project in Pinal County with the Red Kite Group, an international finance group based in New York.
This funding is sufficient to finance phase 1 development and operations, with McPhie anticipating Curis will be looking to secure full project financing for commercial scale development in mid 2013.
The feasibility study for the property is targeted for the first quarter of 2013, well ahead of the requirement in time for the start of phase 2 operations later next year.
"This gives us more than a year to publish the study and secure financing. We're in a strong cash position for development over the next year and a half," asserts McPhie.
So far, the company has received interest from "quite a large number of banks from Europe, Asia, US and Canada" that have come to tour the site.
"We're going to take our time in selecting our consortium of banks - it's about finding the optimal mix of partners that will be with us for the long term.
"Based on a 2010 preliminary economic assessment¹, Florence has one of the lowest cost copper projects in the markets today with cash costs of well under one dollar a pound, and capital costs in the $200 million range.
"This is quite attractive at a time when capital costs in the mining sector are skyrocketing and we are seeing a lot of interest because of this."
The banking route is just one option for Curis, as McPhie says the company is also considering opportunities for partnerships with businesses looking to use copper, as well as equity financing.
In addition to enhancing capital costs, a new high voltage power line put in by the state of Arizona a couple of years ago that traverses the west side of the property could assist the project’s operating costs.
The asset is also close to a railway, has an "abundance" of water, and is referred to as a well-understood deposit with more than 500,000 feet of drilling. The project rests just 70 miles north-northwest of Tucson, and 65 miles southeast of Phoenix.
"When compared to other projects in more remote areas of North and South America everything is here within 500 metres of our doorstep," says McPhie, adding that the presence of the extensive infrastructure lowers capital costs and makes the project a "significant opportunity".
The company's CEO is focused on optimizing the development plan and at the same time, being "respectful of its neighbours", with a big part of the planning aimed at minimizing its footprint on the ground and building an efficient operation.
Rather than focusing on expanding the size of the resource, which is already quite large, Curis is taking the approach of focusing on metallurgy and getting more copper from what is already there.
McPhie says there is room for improvement in the commercial scale production forecast, with copper recovery for its Florence project in the PEA assumed at 49 per cent, which is "very conservative" compared to the previous work done by BHP that predicted this would be the minimum recovery possible.
If recoveries can be improved, the same amount of effort will be put in, but the miner will be able to get more copper out of the ground at a quicker pace.
"There is slightly less than 3 billion pounds of copper in the measured and indicated category, and we're only taking advantage of less than half of the deposit as it currently stands in our economics," says McPhie.
"There is more than enough resource at Florence for a 20 year mine," he concludes, adding that his focus remains "thoughtful and sustainable development."
Indeed, for every percentage increase of copper recovery, higher revenues will be generated from the project, which has an estimated after-tax net present value of $360 million at a 7.5 per cent discount rate and a $2.50 per pound copper price.
The completion of the permitting process is something McPhie hopes will please investors, creating a "tremendous value creation opportunity" for the months ahead. Shares of the company are currently changing hands at 46 cents on the Toronto Stock Exchange.
[1] See Curis news release dated November 25, 2010
The company's CEO, Michael McPhie, says two primary operating permits are required for phase 1. BHP Copper, the previous owner, secured full commercial operating permits for the project back in the late 1990s, and since that time Curis has been working with state and federal agencies to amend and update these for current operations.
The junior miner has already secured critical air, land and water permits for the project and the remaining state and federal permits for phase 1 are expected in the near term.
"It's really quite an exciting time for us," says McPhie. "We're trying to keep our heads down and get the final steps completed so we can begin construction in the weeks ahead."
The project, which is located in Central Arizona, hosts a measured and indicated oxide copper resource of 429 million tonnes grading 0.33 percent copper at a cut-off of 0.05 percent. It was previously owned by BHP Copper, who received all major operating permits necessary for commercial production of copper by in-situ recovery methods in 1998.
Once the updated state Aquifer Protection Permit (APP) and the federal Underground Injection Control (UIC) permits are approved in the coming weeks, Curis can develop a 24 well injection and copper recovery system and a "state of the art solvent extraction electro-winning plant" - otherwise known as phase 1 operations - with this production test facility (PTF) phase expected to last 18 months.
McPhie says that Curis had a public open house two weeks ago with regards to the state permit approval, which went "very, very well", with "lots of support shown from the community".
Construction of the in-situ copper recovery (ISR) well field and plant is anticipated to start in the third quarter, following the expected permit approval sometime this summer, with initial copper cathode production slated for early 2013.
McPhie notes that none of the permits needed are environmental assessments, with air and water approvals already in place. Curis holds sufficient water rights for its flagship copper property, which allows the company to utilize groundwater for in-situ copper recovery. As the majority of water used at Florence will be recycled, actual use of water is low in comparison to surrounding agricultural and related activities.
There are two key factors that limit the water used in the deposit-area. The first is a 20-40 foot thick impermeable clay layer within the overburden about 60 to 100 feet above the top of bedrock that contains the copper. This layer acts as an aquitard, preventing groundwater in aquifers above and below the layer from mixing, and helps protect the groundwater that is used for other purposes. Secondly, the copper extraction method involves pumping a mildly acidic solution through highly engineered wells hundreds of feet below surface into rocks that are naturally fractured. The copper-bearing solution is then recovered through a series of recovery wells and an inward hydraulic gradient is created that controls solution flow.
This process requires no movement of rock or overburden. There is therefore a substantially smaller footprint, with much less of an environmental impact on the surrounding area than with more traditional open pit mining operations. The technique also requires substantially less mechanical energy in the form of trucks and explosives, and therefore generates significantly lower operating and capital costs.
The company is already in the mode of hiring people for the phase 1 development program, and has made purchases relating to long lead-time items for copper processing facilities.
Construction for this phase is due to start in early September.
Though several million pounds of copper is expected over the life of the phase 1 program, McPhie says the 24 wells are relatively small in context of a full commercial operation, and the primary focus of the first phase is the "optimization and refinement of the development plan."
"Our aim is to further prove up all the engineering and environmental safeguards through the phase 1 program, with the intent to begin development of the commercial plant facility and well field, referred to as phase 2, by the end of 2013."
According to the latest timeline, the company could begin full commercial production by early 2015, after which it expects to produce between 55 and 84 million pounds of copper per year.
Curis anticipates having phase 2 commercial scale operating permit approvals well before it is ready to begin construction in late 2013, as the phase 2 permits will "really just be an extension of permits already in place."
With regards to financing its plans, the company recently secured a $40 million loan for its ISR copper project in Pinal County with the Red Kite Group, an international finance group based in New York.
This funding is sufficient to finance phase 1 development and operations, with McPhie anticipating Curis will be looking to secure full project financing for commercial scale development in mid 2013.
The feasibility study for the property is targeted for the first quarter of 2013, well ahead of the requirement in time for the start of phase 2 operations later next year.
"This gives us more than a year to publish the study and secure financing. We're in a strong cash position for development over the next year and a half," asserts McPhie.
So far, the company has received interest from "quite a large number of banks from Europe, Asia, US and Canada" that have come to tour the site.
"We're going to take our time in selecting our consortium of banks - it's about finding the optimal mix of partners that will be with us for the long term.
"Based on a 2010 preliminary economic assessment¹, Florence has one of the lowest cost copper projects in the markets today with cash costs of well under one dollar a pound, and capital costs in the $200 million range.
"This is quite attractive at a time when capital costs in the mining sector are skyrocketing and we are seeing a lot of interest because of this."
The banking route is just one option for Curis, as McPhie says the company is also considering opportunities for partnerships with businesses looking to use copper, as well as equity financing.
In addition to enhancing capital costs, a new high voltage power line put in by the state of Arizona a couple of years ago that traverses the west side of the property could assist the project’s operating costs.
The asset is also close to a railway, has an "abundance" of water, and is referred to as a well-understood deposit with more than 500,000 feet of drilling. The project rests just 70 miles north-northwest of Tucson, and 65 miles southeast of Phoenix.
"When compared to other projects in more remote areas of North and South America everything is here within 500 metres of our doorstep," says McPhie, adding that the presence of the extensive infrastructure lowers capital costs and makes the project a "significant opportunity".
The company's CEO is focused on optimizing the development plan and at the same time, being "respectful of its neighbours", with a big part of the planning aimed at minimizing its footprint on the ground and building an efficient operation.
Rather than focusing on expanding the size of the resource, which is already quite large, Curis is taking the approach of focusing on metallurgy and getting more copper from what is already there.
McPhie says there is room for improvement in the commercial scale production forecast, with copper recovery for its Florence project in the PEA assumed at 49 per cent, which is "very conservative" compared to the previous work done by BHP that predicted this would be the minimum recovery possible.
If recoveries can be improved, the same amount of effort will be put in, but the miner will be able to get more copper out of the ground at a quicker pace.
"There is slightly less than 3 billion pounds of copper in the measured and indicated category, and we're only taking advantage of less than half of the deposit as it currently stands in our economics," says McPhie.
"There is more than enough resource at Florence for a 20 year mine," he concludes, adding that his focus remains "thoughtful and sustainable development."
Indeed, for every percentage increase of copper recovery, higher revenues will be generated from the project, which has an estimated after-tax net present value of $360 million at a 7.5 per cent discount rate and a $2.50 per pound copper price.
The completion of the permitting process is something McPhie hopes will please investors, creating a "tremendous value creation opportunity" for the months ahead. Shares of the company are currently changing hands at 46 cents on the Toronto Stock Exchange.
[1] See Curis news release dated November 25, 2010
Tuesday, 24 July 2012
Feronia completes first tranche of private placement offering
Crude palm oil producer Feronia (CVE:FRN)
announced Tuesday the completion of the first tranche of its brokered
private placement for a total of $4.8 million in proceeds.
Under the terms of the agreement with Macquarie Private Wealth and Renaissance Securities, the agents have the option to accept subscriptions for up to an additional 15 per cent of the maximum offering, exercisable in whole or in part up to 30 days following the offering's close.
The company issued two types of securities to purchasers in the first tranche of the offering.
The company received gross proceeds of $3.7 million from the issue of 3,679 units, with each debenture unit consisting of one $1,000 principal amount 12.0 per cent convertible unsecured subordinated debenture, and 1,667 common share purchase warrants.
The purchase price for each debenture unit was $1,000 per unit.
Feronia also issued around 11.1 million common shares for a total of $1.11 million in proceeds, at a purchase price of 10 cents per share.
The debentures will bear interest at 12.0 per cent per year, payable semi-annually, starting on December 31, and will be due five years from the closing of the offering.
The principal amount of the debentures will be convertible into common shares of the company, anytime prior to the maturity date, at a price of 17.5 Canadian cents per share.
This represents a ratio of 5,714 common shares per $1,000 principal amount.
Each whole warrant in the units entitles the holder to purchase one common share at a cost of 30 cents per share until July 24, 2014.
"We are pleased to close the first tranche of this Offering and look forward to concluding the financing in the coming days," said Feronia’s executive chairman, Ravi Sood.
"We are very encouraged and appreciative of the support of our existing shareholders and the participation of management and the Board of Directors in this Offering."
The company unveiled its plans for the brokered private placement financing for up to C$10 million in proceeds on July 16.
Feronia also recently reported that in its arable farming operations, it anticipates having capacity in place to mill over 30,000 tonnes of rice per year and to farm 2,000 hectares of land, by the end of the third quarter.
The company is limiting its expenses on the arable farming operations and focusing its efforts on continuing to prove yields through smaller-scale plantings.
Feronia is focused on arable farming and oil palm operations in the Democratic Republic of Congo (DRC). Feronia PHC’s three plantations span 107,892 hectares, an area larger than Manhattan, San Francisco, Brussels, Amsterdam, Zurich, Paris, Geneva, Lisbon, Dublin and Montevideo combined.
For the full-year 2011, the company achieved gross margin of 45 per cent, compared to 40 per cent in 2010.
Revenues grew to $7.45 million from $3.91 million a year earlier. Crude palm oil (CPO) production was up 61 per cent to 7,981 tonnes for the full year, up from 4,951 tonnes in 2010.
Under the terms of the agreement with Macquarie Private Wealth and Renaissance Securities, the agents have the option to accept subscriptions for up to an additional 15 per cent of the maximum offering, exercisable in whole or in part up to 30 days following the offering's close.
The company issued two types of securities to purchasers in the first tranche of the offering.
The company received gross proceeds of $3.7 million from the issue of 3,679 units, with each debenture unit consisting of one $1,000 principal amount 12.0 per cent convertible unsecured subordinated debenture, and 1,667 common share purchase warrants.
The purchase price for each debenture unit was $1,000 per unit.
Feronia also issued around 11.1 million common shares for a total of $1.11 million in proceeds, at a purchase price of 10 cents per share.
The debentures will bear interest at 12.0 per cent per year, payable semi-annually, starting on December 31, and will be due five years from the closing of the offering.
The principal amount of the debentures will be convertible into common shares of the company, anytime prior to the maturity date, at a price of 17.5 Canadian cents per share.
This represents a ratio of 5,714 common shares per $1,000 principal amount.
Each whole warrant in the units entitles the holder to purchase one common share at a cost of 30 cents per share until July 24, 2014.
"We are pleased to close the first tranche of this Offering and look forward to concluding the financing in the coming days," said Feronia’s executive chairman, Ravi Sood.
"We are very encouraged and appreciative of the support of our existing shareholders and the participation of management and the Board of Directors in this Offering."
The company unveiled its plans for the brokered private placement financing for up to C$10 million in proceeds on July 16.
Feronia also recently reported that in its arable farming operations, it anticipates having capacity in place to mill over 30,000 tonnes of rice per year and to farm 2,000 hectares of land, by the end of the third quarter.
The company is limiting its expenses on the arable farming operations and focusing its efforts on continuing to prove yields through smaller-scale plantings.
Feronia is focused on arable farming and oil palm operations in the Democratic Republic of Congo (DRC). Feronia PHC’s three plantations span 107,892 hectares, an area larger than Manhattan, San Francisco, Brussels, Amsterdam, Zurich, Paris, Geneva, Lisbon, Dublin and Montevideo combined.
For the full-year 2011, the company achieved gross margin of 45 per cent, compared to 40 per cent in 2010.
Revenues grew to $7.45 million from $3.91 million a year earlier. Crude palm oil (CPO) production was up 61 per cent to 7,981 tonnes for the full year, up from 4,951 tonnes in 2010.
Snipp to pilot mobile event solution during national Data Center Investment Conference in Washington
Mobile marketing services provider Snipp Interactive (CVE:SPN)
announced Tuesday a new mobile event information and advertising
solution that will make its debut at Bisnow Media's national Data Center
Investment Conference & Expo in Washington, DC on July 24-25.
National media company Bisnow and its event sponsors will be able to interact in real time with visitors and deliver targeted event, brand and product information to visitors' mobile phones, Snipp said.
The mobile event solution, which is powered by Snipp's "Mobilize Me" technology platform, allows exhibitors to deliver "rich, targeted" information to visitors and capture leads in real time.
Bisnow will also distribute a variety of event information to visitors' phones and support instant mobile newsletter sign-up and event feedback.
Snipp provides print publishers, advertising agencies and corporate/consumer brands with a full suite of mobile marketing services in North America.
Headquartered in Washington, the company has provided its services to several Fortune 500 companies and other major brands, advertising agencies and publishers, including Wal-Mart (NYSE:WMT), ESPN, Time Inc, Ford (NYSE:F), Nike (NYSE:NKE), Wendy's (NASDAQ:WEN) and Campbell Soup (NYSE:CPB).
Its “Mobilize Me” platform supports many input mechanisms for mobilizing marketing campaigns for companies, including text message, QR codes, Microsoft tags and Snapp tags. The platform delivers a host of content experiences to customers as part of sales tactics, including text messages, mobile web pages to collect data, emails, mobile videos, audio, sweepstakes, coupons, and ringtones, among others.
The Data Center event is a two-day national conference about the future of data centers and their impact on the commercial real estate community.
"Bisnow has altered the perception of local business by showing not only that there is considerable strength in the local business community, but also that companies can connect with their customers and stakeholders in new and fun formats," said Snipp CEO Erik Hallstrom.
"How Bisnow and their clients are utilizing our technology is yet another example of B2B companies increasingly embracing mobile solutions to refine communication with customers in marketing, customer service and logistics."
Bisnow Media publishes 28 daily free, informative e-pubs as well as a once-weekly national newsletter reaching nearly every state in the US. The firm also produces 230 events per year across the US.
"Snipp has a great toolbox to add mobile interaction all around our events and their team really helps us see how we can mobilize our business," commented founder and CEO of Bisnow, Mark Bisnow.
"The technology is incredibly flexible and lets us go from a strategic concept to a working solution in a few days."
Recently, Snipp unveiled a beta trial of its new photo sharing technology called Face-in-the-Hole.
The company said the technology will allow marketers to use photo sharing by mobile phone users to build their brands, adding to Snipp’s existing marketing tools.
Snipp said that by using Face-in-the-Hole, marketers will invite users to take photos of themselves, friends or family and receive back “uniquely designed images” combining the user’s photo with company branding.
National media company Bisnow and its event sponsors will be able to interact in real time with visitors and deliver targeted event, brand and product information to visitors' mobile phones, Snipp said.
The mobile event solution, which is powered by Snipp's "Mobilize Me" technology platform, allows exhibitors to deliver "rich, targeted" information to visitors and capture leads in real time.
Bisnow will also distribute a variety of event information to visitors' phones and support instant mobile newsletter sign-up and event feedback.
Snipp provides print publishers, advertising agencies and corporate/consumer brands with a full suite of mobile marketing services in North America.
Headquartered in Washington, the company has provided its services to several Fortune 500 companies and other major brands, advertising agencies and publishers, including Wal-Mart (NYSE:WMT), ESPN, Time Inc, Ford (NYSE:F), Nike (NYSE:NKE), Wendy's (NASDAQ:WEN) and Campbell Soup (NYSE:CPB).
Its “Mobilize Me” platform supports many input mechanisms for mobilizing marketing campaigns for companies, including text message, QR codes, Microsoft tags and Snapp tags. The platform delivers a host of content experiences to customers as part of sales tactics, including text messages, mobile web pages to collect data, emails, mobile videos, audio, sweepstakes, coupons, and ringtones, among others.
The Data Center event is a two-day national conference about the future of data centers and their impact on the commercial real estate community.
"Bisnow has altered the perception of local business by showing not only that there is considerable strength in the local business community, but also that companies can connect with their customers and stakeholders in new and fun formats," said Snipp CEO Erik Hallstrom.
"How Bisnow and their clients are utilizing our technology is yet another example of B2B companies increasingly embracing mobile solutions to refine communication with customers in marketing, customer service and logistics."
Bisnow Media publishes 28 daily free, informative e-pubs as well as a once-weekly national newsletter reaching nearly every state in the US. The firm also produces 230 events per year across the US.
"Snipp has a great toolbox to add mobile interaction all around our events and their team really helps us see how we can mobilize our business," commented founder and CEO of Bisnow, Mark Bisnow.
"The technology is incredibly flexible and lets us go from a strategic concept to a working solution in a few days."
Recently, Snipp unveiled a beta trial of its new photo sharing technology called Face-in-the-Hole.
The company said the technology will allow marketers to use photo sharing by mobile phone users to build their brands, adding to Snipp’s existing marketing tools.
Snipp said that by using Face-in-the-Hole, marketers will invite users to take photos of themselves, friends or family and receive back “uniquely designed images” combining the user’s photo with company branding.
The Singing Machine sees investor buzz over new products and anticipation over upcoming holiday season
The Singing Machine (OTCBB:SMDM) has seen some significant trading
volume in its stock the past few days, perhaps in anticipation of
increasing sales this holiday season and the release of some new karaoke
machine products later this year.
CEO Gary Atkinson believes his company is in just the right spot to take advantage of karaoke's increasing popularity.
He says that big box retailers are now looking for products to fill spots on shelves once filled by devices that have been made obsolete by Apple's (NASDAQ:AAPL) iPhone and iPad.
"Electronic retailers are seeing consumer electronic product categories being cannibalized by Apple and they are starting to look for other popular entertainment devices to fill their shelves," Atkinson says.
"There are not a lot of categories left that the iPhone hasn't replaced, but the karaoke machine offers a good solution for retailers as it provides a good, healthy margin for them."
Indeed, the company's CEO says that between the boom in reality performance shows like American Idol and the popularity of the machines themselves, electronic retailers are seeing karaoke as a " not just a niche business".
The company - whose karaoke machines, accessories, karaoke music downloads, and musical instruments are sold under the brands of Singing Machine and Sound X - reported a 26 per cent rise in net sales in its latest fiscal year ending in March, to around $25.9 million.
The Singing Machine already has a number of partnerships with big box retailers nationwide for the sell-through of its products, and has signed "a lot of commitments with new retailers" for this coming holiday season.
As a result, the company is optimistic for the coming fiscal year.
It is also planning to release a number of new products in time for the upcoming holiday season - its peak sales period - with an iPad-docking karaoke machine along with a Retina display iPad App designed specifically for the new machine to provide thousands of streaming karaoke songs available for subscription.
The new iPad-docking product will be able to play karaoke music from over four different sources through the machine, Atkinson says, including through iPhone, a USB drive and through conventional CD+Gs.
For 2012, the company has also redesigned its flagship Pedestal Karaoke line, which is the company’s most visible and highest revenue generating line of products. New features will include recording functionality, easier music downloading experience, as well as enhanced iPhone support.
For the 12-month period that ended March 31, net income for the company swung to $463,000, an increase of over $1 million, compared to a net loss of approximately $599,000 in the last fiscal year.
The first to provide karaoke systems for home entertainment in the US, The Singing Machine sells its products in both North America and Europe.
The company, which emerged from bankruptcy in 1998 and underwent a restructuring in 2004, has come a long way.
In 2009, it launched its online karaoke music download business through a partnership with content provider Stingray Digital, and became the first karaoke company to provide legal karaoke downloads, with a selection of more than 8,000 titles.
The company's products are now featured across 1,800 stores across the US, with plans to expand its presence abroad.
In March, the company appeared on ABC’s daytime entertainment talk show The View. The karaoke machine maker’s 4TV device was featured in a Dr. Gadget segment, which highlighted five of the coolest new gadgets on the market.
Dr. Gadget, a radio and TV personality, showcased the product during a one minute clip and described it as the “new wave and new evolution of karaoke.”
The Singing Machine 4TV is the industry's first home karaoke machine to support digital karaoke downloads in MP3+G format. The 4TV product also offers a USB microphone and remote-control as well as an interactive user interface.
On Friday, 1.5 million shares of the company's stock was traded on the over-the-counter market in the US, with almost 100,000 shares changing hands Monday. In the last month alone, its shares have more than doubled in price.
CEO Gary Atkinson believes his company is in just the right spot to take advantage of karaoke's increasing popularity.
He says that big box retailers are now looking for products to fill spots on shelves once filled by devices that have been made obsolete by Apple's (NASDAQ:AAPL) iPhone and iPad.
"Electronic retailers are seeing consumer electronic product categories being cannibalized by Apple and they are starting to look for other popular entertainment devices to fill their shelves," Atkinson says.
"There are not a lot of categories left that the iPhone hasn't replaced, but the karaoke machine offers a good solution for retailers as it provides a good, healthy margin for them."
Indeed, the company's CEO says that between the boom in reality performance shows like American Idol and the popularity of the machines themselves, electronic retailers are seeing karaoke as a " not just a niche business".
The company - whose karaoke machines, accessories, karaoke music downloads, and musical instruments are sold under the brands of Singing Machine and Sound X - reported a 26 per cent rise in net sales in its latest fiscal year ending in March, to around $25.9 million.
The Singing Machine already has a number of partnerships with big box retailers nationwide for the sell-through of its products, and has signed "a lot of commitments with new retailers" for this coming holiday season.
As a result, the company is optimistic for the coming fiscal year.
It is also planning to release a number of new products in time for the upcoming holiday season - its peak sales period - with an iPad-docking karaoke machine along with a Retina display iPad App designed specifically for the new machine to provide thousands of streaming karaoke songs available for subscription.
The new iPad-docking product will be able to play karaoke music from over four different sources through the machine, Atkinson says, including through iPhone, a USB drive and through conventional CD+Gs.
For 2012, the company has also redesigned its flagship Pedestal Karaoke line, which is the company’s most visible and highest revenue generating line of products. New features will include recording functionality, easier music downloading experience, as well as enhanced iPhone support.
For the 12-month period that ended March 31, net income for the company swung to $463,000, an increase of over $1 million, compared to a net loss of approximately $599,000 in the last fiscal year.
The first to provide karaoke systems for home entertainment in the US, The Singing Machine sells its products in both North America and Europe.
The company, which emerged from bankruptcy in 1998 and underwent a restructuring in 2004, has come a long way.
In 2009, it launched its online karaoke music download business through a partnership with content provider Stingray Digital, and became the first karaoke company to provide legal karaoke downloads, with a selection of more than 8,000 titles.
The company's products are now featured across 1,800 stores across the US, with plans to expand its presence abroad.
In March, the company appeared on ABC’s daytime entertainment talk show The View. The karaoke machine maker’s 4TV device was featured in a Dr. Gadget segment, which highlighted five of the coolest new gadgets on the market.
Dr. Gadget, a radio and TV personality, showcased the product during a one minute clip and described it as the “new wave and new evolution of karaoke.”
The Singing Machine 4TV is the industry's first home karaoke machine to support digital karaoke downloads in MP3+G format. The 4TV product also offers a USB microphone and remote-control as well as an interactive user interface.
On Friday, 1.5 million shares of the company's stock was traded on the over-the-counter market in the US, with almost 100,000 shares changing hands Monday. In the last month alone, its shares have more than doubled in price.
Castle Peak Mining boosts private placement to up to $2.5 mln
Castle Peak Mining (CVE:CAP)
said Tuesday that it has amended the terms of its previously announced
private placement offering, raising the total amount to up to $2.5
million.
The offering will now consist of up to 14.7 million units at a price of 17 cents each.
Each unit will consist of one common share of the company and one share purchase warrant, where each warrant will allow the subscriber to purchase one additional share at a price of 25 cents for a period of two years from the closing date.
Proceeds from the financing will be used to fund the ongoing exploration program at Castle Peak's Akorade project in Ghana, as well as, working capital, the company said.
The transaction is subject to receipt of all necessary approvals including the acceptance of the TSX Venture Exchange, and is expected to close in early August.
The investors in the offering include Grizal Enterprises, with up to 5.88 million units, director Allan Green, with up to 5.88 million units, and a third unnamed investors for the remaining units.
If all units are subscribed for, Grizal will hold around 23.5 per cent of Castle Peak, while Green will hold close to 10 per cent.
Earlier this month, Castle Peak reported what it called "encouraging" initial follow-up diamond drill results from its high grade Apankrah target at the Akorade project in Ghana, West Africa.
The follow-up holes, designed to confirm the high grade shoot geometry at the site, returned results including 10 metres of 6.7 grams per tonne (g/t) gold from hole NKDDH017 and 9.8 metres of 6.8 g/t gold from hole NKDDH018.
This latter intercept includes an interval of 1.0 metre at a whopping 51.8 g/t gold grade.
The offering will now consist of up to 14.7 million units at a price of 17 cents each.
Each unit will consist of one common share of the company and one share purchase warrant, where each warrant will allow the subscriber to purchase one additional share at a price of 25 cents for a period of two years from the closing date.
Proceeds from the financing will be used to fund the ongoing exploration program at Castle Peak's Akorade project in Ghana, as well as, working capital, the company said.
The transaction is subject to receipt of all necessary approvals including the acceptance of the TSX Venture Exchange, and is expected to close in early August.
The investors in the offering include Grizal Enterprises, with up to 5.88 million units, director Allan Green, with up to 5.88 million units, and a third unnamed investors for the remaining units.
If all units are subscribed for, Grizal will hold around 23.5 per cent of Castle Peak, while Green will hold close to 10 per cent.
Earlier this month, Castle Peak reported what it called "encouraging" initial follow-up diamond drill results from its high grade Apankrah target at the Akorade project in Ghana, West Africa.
The follow-up holes, designed to confirm the high grade shoot geometry at the site, returned results including 10 metres of 6.7 grams per tonne (g/t) gold from hole NKDDH017 and 9.8 metres of 6.8 g/t gold from hole NKDDH018.
This latter intercept includes an interval of 1.0 metre at a whopping 51.8 g/t gold grade.
Millrock Resources says drilling begins at Council project with Kinross in Alaska
Millrock Resources (CVE:MRO) said Tuesday that drilling has begun at its Council project on the Seward Peninsula in western Alaska.
Exploration at the Council project will target sediment-hosted vein gold deposits and the program consists of six holes totaling around 1,000 metres.
Drill holes will test a seven kilometre long gold–arsenic soil anomaly that overlies a regional structural feature, the company noted.
In places, the soil anomaly is up to 400 metres in width.
Millrock crews discovered stockwork and vein hosted gold mineralization near the target area in 2011. Placer gold occurrences are also known to exist downstream, the miner said.
The Council project is the subject of an option agreement with Kinross Gold (NYSE:KGC) (TSE:K), which can earn up to a 75 per cent interest in the property.
Millrock Resources holds gold and copper deposits in mineral rich Alaska and Arizona. It currently has twelve active exploration projects, eight gold-copper properties in Alaska, and four porphyry copper prospects in Arizona.
With funding primarily coming from its joint venture partners, the company plans to carry out exploration programs with a total value of more than US$10 million in 2012.
Exploration at the Council project will target sediment-hosted vein gold deposits and the program consists of six holes totaling around 1,000 metres.
Drill holes will test a seven kilometre long gold–arsenic soil anomaly that overlies a regional structural feature, the company noted.
In places, the soil anomaly is up to 400 metres in width.
Millrock crews discovered stockwork and vein hosted gold mineralization near the target area in 2011. Placer gold occurrences are also known to exist downstream, the miner said.
The Council project is the subject of an option agreement with Kinross Gold (NYSE:KGC) (TSE:K), which can earn up to a 75 per cent interest in the property.
Millrock Resources holds gold and copper deposits in mineral rich Alaska and Arizona. It currently has twelve active exploration projects, eight gold-copper properties in Alaska, and four porphyry copper prospects in Arizona.
With funding primarily coming from its joint venture partners, the company plans to carry out exploration programs with a total value of more than US$10 million in 2012.
TrueContext Mobile publishes study showing ProntoForms app improves Toshiba division efficiency
Mobile business apps company TrueContext Mobile Solutions
Corp (CVE:TMN) said Tuesday it published its enterprise case study on
how its ProntoForms app helped Toshiba's North American electronic
imaging division become "more efficient and productive".
"ProntoForms has experienced major growth with a broad number of enterprises like Toshiba's EID," said TrueContext's CEO and founder, Alvaro Pombo.
"Once we're deployed, we grow rapidly within the business, as process owners see ROI from other complementary uses."
Indeed, the ProntoForms mobile app does away with paperwork and redundant data entry, allowing field workers to fill business forms out of the office from all major device platforms such as Apple's (NASDAQ:AAPL) iPad, RIM's (NASDAQ:RIMM)(TSE:RIM) Blackberry, Google's (NASDAQ:GOOG) Android platform and Microsoft's (NASDAQ:MSFT) Windows Mobile platform.
The simple to add app is meant to improve overall business productivity, and allows users in the field to create forms, generate reports, as well as capture signatures and photos within minutes.
The customizable app is used by more than 1,800 businesses, and is connected to back office systems.
Comprised of over 2500 employees, including field representatives who utilize ProntoForms on the go, the Toshiba division's workflow is now paperless and its processes "much improved", TrueContext said in a release.
"This new availability and accessibility of data has had a huge impact on our business," added manager of Toshiba's solutions design and implementation, Matthew Bull.
"It's prompted the rest of the company to examine how ProntoForms can possibly help in their specific areas."
Integratable with any enterprise office system, ProntoForms features relied upon by big business include signature, photo and barcode captures, geo and time form stamps, and the capability to dispatch work orders to either individuals or groups of workers.
To read the complete ProntoForms Toshiba case study, visit: http://prontoforms.com/res/downloads/case-studies/ProntoForms-CaseStudy-Toshiba.pd
"ProntoForms has experienced major growth with a broad number of enterprises like Toshiba's EID," said TrueContext's CEO and founder, Alvaro Pombo.
"Once we're deployed, we grow rapidly within the business, as process owners see ROI from other complementary uses."
Indeed, the ProntoForms mobile app does away with paperwork and redundant data entry, allowing field workers to fill business forms out of the office from all major device platforms such as Apple's (NASDAQ:AAPL) iPad, RIM's (NASDAQ:RIMM)(TSE:RIM) Blackberry, Google's (NASDAQ:GOOG) Android platform and Microsoft's (NASDAQ:MSFT) Windows Mobile platform.
The simple to add app is meant to improve overall business productivity, and allows users in the field to create forms, generate reports, as well as capture signatures and photos within minutes.
The customizable app is used by more than 1,800 businesses, and is connected to back office systems.
Comprised of over 2500 employees, including field representatives who utilize ProntoForms on the go, the Toshiba division's workflow is now paperless and its processes "much improved", TrueContext said in a release.
"This new availability and accessibility of data has had a huge impact on our business," added manager of Toshiba's solutions design and implementation, Matthew Bull.
"It's prompted the rest of the company to examine how ProntoForms can possibly help in their specific areas."
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Gold Resource Corp declares monthly dividend for July
Gold Resource Corp. (AMEX:GORO) declared its instituted monthly dividend of six cents per common share for July late Monday.
The payout of the monthly dividend will be on August 23, to shareholders of record as of August 10, 2012.
Gold Resource is the only company that offers its shareholders the option to convert their monthly cash dividend into physical gold and or silver.
The company released its final resource report yesterday from drilling data at its La Arista vein system, part of the El Aguila project in the southern state of Oaxaca, Mexico.
The El Aguila project is located 120 kilometres southeast of the capital city of Oaxaca, and is a newly discovered high-grade gold and silver system.
Indicated and inferred resources stood at 1.4 million gold equivalent ounces at a one gram per tonne gold cut-off, confirming the previously announced preliminary results in April.
The property consists of 23 contiguous mining concessions in the El Aguila to El Rey project area as well as two adjacent concessions in the Solaga project area covering 60,912-hectares.
A large exploration budget for 2012 has been allocated to continue drilling and investigate other targets where high grade precious metal concentrations have been found, stated Gold Resource.
For the quarter that ended March 31, the gold producer made around 30,500 ounces of precious metal gold equivalent from El Aguila, a growth of 308 percent from the first quarter of 2011.
Gold Resource also reported in early April that its first quarter output was in line with its 2012 outlook for annual production of between 120,000 to 140,000 ounces of gold equivalent.
Gold Resource is a mining company focused on the low-cost production and development of gold and silver projects in Oaxaca, Mexico.
Company shares were up almost 2 per cent at $17.39 Tuesday Morning.
The payout of the monthly dividend will be on August 23, to shareholders of record as of August 10, 2012.
Gold Resource is the only company that offers its shareholders the option to convert their monthly cash dividend into physical gold and or silver.
The company released its final resource report yesterday from drilling data at its La Arista vein system, part of the El Aguila project in the southern state of Oaxaca, Mexico.
The El Aguila project is located 120 kilometres southeast of the capital city of Oaxaca, and is a newly discovered high-grade gold and silver system.
Indicated and inferred resources stood at 1.4 million gold equivalent ounces at a one gram per tonne gold cut-off, confirming the previously announced preliminary results in April.
The property consists of 23 contiguous mining concessions in the El Aguila to El Rey project area as well as two adjacent concessions in the Solaga project area covering 60,912-hectares.
A large exploration budget for 2012 has been allocated to continue drilling and investigate other targets where high grade precious metal concentrations have been found, stated Gold Resource.
For the quarter that ended March 31, the gold producer made around 30,500 ounces of precious metal gold equivalent from El Aguila, a growth of 308 percent from the first quarter of 2011.
Gold Resource also reported in early April that its first quarter output was in line with its 2012 outlook for annual production of between 120,000 to 140,000 ounces of gold equivalent.
Gold Resource is a mining company focused on the low-cost production and development of gold and silver projects in Oaxaca, Mexico.
Company shares were up almost 2 per cent at $17.39 Tuesday Morning.
Latin American rallies as it intersects gold in all Tacuru drill holes
Latin American Minerals (CVE:LAT)(OTCQX:LATNF) unveiled Tuesday drill results from its Tacuru target, part of the X-Mile gold trend at Paso Yobai in Paraguay.
Twelve holes totalling 1,712 metres have been drilled at the Tacuru target to date, all of which intersected gold mineralization, the company said.
Shares rallied 7.7 per cent to 14 cents Tuesday Morning.
Highlights from the most recent drilling results include 22.0 metres at 4.2 grams per tonne (g/t) gold, including 5.69 metres of 11.24 g/t beginning at surface in hole DDH-BT-08.
Also in this hole, 2.13 metres was interesected at 94.6 g/t gold, including 0.7 metres with 271.2 g/t gold at 34.6 metres vertical depth, and 2.7 metres with 107.7 g/t gold including 0.47 metres at 611.07 g/t gold at 83.3 metres vertical depth.
Results from the first five drill holes were announced in March, with final results announced today following the receipt of new fire screen assay duplicate analyses.
Some of these notable results included 20.88 metres at 4.09 g/t gold beginning at surface, including 3.77 metres at 16.19 g/t gold at 4.9 metres vertical depth in hole DDH-BT-02.
Tacuru is a target area with a prominent surface gold soil anomaly of 700 metres in diameter, initially explored with a reconnaissance trench that showed 3.8 g/t gold over 30.55 metres.
"The Tacuru target is now validated as a major epithermal system with significant gold occurrences identified in several geological rock types," said president and CEO Miles Rideout.
"These results are impressive both for the high grades and that we continue to intersect gold mineralization from surface to 115 metres true depth.
"Expanded and deeper drilling will be required to fully evaluate this target."
The 12 drill holes in Tacuru's drill program to date were penetrated to a vertical depth of approximately 120 metres, and have "tentatively defined" four types of gold mineralization, the company said.
These include disseminated bulk tonnage gold mineralization near surface ranging from around 1 to 4 g/t, higher grade gold mineralization in kaolinized sandstones, high grade gold in a horizontal 25 metre thick basalt, and low grade gold mineralization hosted in a shale unit.
The Tacuru target is currently the most advanced exploration area on the 14.8 kilometre long X-Mile Trend, Latin American said.
The X-Mile Trend runs parallel to the 4.5 kilometre Discovery Trend, where the company has constructed its Independencia Mine pilot operation.
These trends, separated by 3.5 kilometres, and other outlying target areas, suggest an epithermal mineralizing system approaching 100 square kilometre area, the miner noted.
The company is operating the Independencia Mine pilot plant on its 99%-owned mining concession, part of the company's larger Paso Yobai gold project.
The X-Mile Trend at Paso Yobai is located on exploration licences that are 100 per cent owned by Latin America. The results of its 2011 work to define drill targets suggest that bulk tonnage potential could exist at several target zones along the extensive structure, the company said.
Twelve holes totalling 1,712 metres have been drilled at the Tacuru target to date, all of which intersected gold mineralization, the company said.
Shares rallied 7.7 per cent to 14 cents Tuesday Morning.
Highlights from the most recent drilling results include 22.0 metres at 4.2 grams per tonne (g/t) gold, including 5.69 metres of 11.24 g/t beginning at surface in hole DDH-BT-08.
Also in this hole, 2.13 metres was interesected at 94.6 g/t gold, including 0.7 metres with 271.2 g/t gold at 34.6 metres vertical depth, and 2.7 metres with 107.7 g/t gold including 0.47 metres at 611.07 g/t gold at 83.3 metres vertical depth.
Results from the first five drill holes were announced in March, with final results announced today following the receipt of new fire screen assay duplicate analyses.
Some of these notable results included 20.88 metres at 4.09 g/t gold beginning at surface, including 3.77 metres at 16.19 g/t gold at 4.9 metres vertical depth in hole DDH-BT-02.
Tacuru is a target area with a prominent surface gold soil anomaly of 700 metres in diameter, initially explored with a reconnaissance trench that showed 3.8 g/t gold over 30.55 metres.
"The Tacuru target is now validated as a major epithermal system with significant gold occurrences identified in several geological rock types," said president and CEO Miles Rideout.
"These results are impressive both for the high grades and that we continue to intersect gold mineralization from surface to 115 metres true depth.
"Expanded and deeper drilling will be required to fully evaluate this target."
The 12 drill holes in Tacuru's drill program to date were penetrated to a vertical depth of approximately 120 metres, and have "tentatively defined" four types of gold mineralization, the company said.
These include disseminated bulk tonnage gold mineralization near surface ranging from around 1 to 4 g/t, higher grade gold mineralization in kaolinized sandstones, high grade gold in a horizontal 25 metre thick basalt, and low grade gold mineralization hosted in a shale unit.
The Tacuru target is currently the most advanced exploration area on the 14.8 kilometre long X-Mile Trend, Latin American said.
The X-Mile Trend runs parallel to the 4.5 kilometre Discovery Trend, where the company has constructed its Independencia Mine pilot operation.
These trends, separated by 3.5 kilometres, and other outlying target areas, suggest an epithermal mineralizing system approaching 100 square kilometre area, the miner noted.
The company is operating the Independencia Mine pilot plant on its 99%-owned mining concession, part of the company's larger Paso Yobai gold project.
The X-Mile Trend at Paso Yobai is located on exploration licences that are 100 per cent owned by Latin America. The results of its 2011 work to define drill targets suggest that bulk tonnage potential could exist at several target zones along the extensive structure, the company said.
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