GOLDEN, Colo., March 12, 2008 /PRNewswire-FirstCall via COMTEX/ -- Canyon Resources Corporation ("Canyon") (CAU: canyon resources corp com new) , a Colorado based mining company, reminds its shareholders that at 9:00 a.m. MDT on March 13, 2008, it will reconvene the special meeting of shareholders to vote to approve the Agreement and Plan of Merger dated as of November 16, 2007, by and among Atna Resources Ltd. ("Atna"), a wholly owned subsidiary of Atna, and Canyon.
To date, approximately 26.4 million shares have voted in favor of the merger, representing 98.4 percent of the vote required. Approval of the merger requires the affirmative vote of less than 450,000 additional shares.
The special meeting will reconvene at 9:00 a.m. MDT on March 13, 2008, at the Canyon Resources Corporation offices located at 14142 Denver West Parkway, Suite 250, Golden, CO. The polls have remained open during the adjournment and will remain open until the special meeting reconvenes. The record date for stockholders entitled to vote at the special meeting remains January 18, 2008.
Your vote is important regardless of the number of shares you own. To vote your shares you may fax your completed proxy card to our proxy agent, The Altman Group, at 201-460-0050 or call 800-314-9816.
Additional Information and Where to Find it
In connection with the merger, Atna and Canyon have filed relevant materials with the SEC, including the filing by Atna with the SEC of a Registration Statement on Form F-4 on January 17, 2008, which incorporates a proxy statement/prospectus (the "Proxy Statement/Prospectus") that Canyon has mailed to its stockholders in connection with obtaining approval of the merger. The Proxy Statement/Prospectus contains important information about Canyon, Atna, the merger and related matters. Investors and security holders are urged to read the Proxy Statement/Prospectus carefully. Investors and security holders may obtain free copies of the Proxy Statement/Prospectus and other documents filed with the SEC by Canyon and Atna through the web site maintained by the SEC at http://www.sec.gov.
Canyon, Atna and their directors and executive officers also may be deemed to be participants in the solicitation of proxies from the stockholders of Canyon in connection with the approval of the merger. Information regarding the special interests of these directors and executive officers in the merger is included in the Proxy Statement/Prospectus. Additional information regarding Canyon's directors and executive officers is also included in Canyon's annual report on Form 10-K, which was filed with the SEC on March 2, 2007. Additional information regarding Atna's directors and executive officers is included in Atna's Form 20-F filed with the SEC on June 30, 2005, as amended January 4, 2008. These documents are available free of charge at the SEC's web site at http://www.sec.gov.
Beiträge von GSP-Komet
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Canyon Resources Merger Expected To Be Complete On March 18
Canyon Resources Announces Shareholder Approval Of The Merger With Atna Resources
Canyon Resources: Atna CEO Will Become Chmn, CEO Upon Closing
Canyon Resources CEO Will Become Pres, Oper Chief Of Atna
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JOHANNESBURG, Mar 14, 2008 (Dow Jones Commodities News via Comtex) -- Gold Fields Ltd. (GFI) is still receiving only 90% of its usual power supply at its South African operations, but has been invited by state utility Eskom Holdings Ltd. to apply for an increased electricity allocation, a spokesman said Friday.
The government last week said an additional 260 megawatts of electricity would be made available to mining companies, although on a case by case basis and where jobs were at risk.
Eskom this week said South Africa's power grid had stabilized, but remained vulnerable and so preemptive rolling blackouts would begin for the commercial and residential sectors from the end of the month.
Company Web site: http://www.goldfields.co.za -
DENVER, March 7, 2008 /PRNewswire-FirstCall via COMTEX/ -- Vista Gold Corp. ("Vista" or the "Corporation") (VGZ: vista gold corp com new) (CA:VGZ) announced today the closing of a brokered private placement of senior secured convertible notes (the "Notes") of the Corporation. Gross proceeds to the Corporation were US$30 million. For a description of the Notes, we refer you to our press release dated February 12, 2008.
As compensation to the agent (the "Agent") in respect of the offering of the Notes, the Corporation has paid to the Agent a cash fee of US$1.2 million, being 4% of the gross proceeds of the offering, and has issued to the Agent 200,000 common share purchase warrants, being 4% of number of common shares issuable upon the conversion of the Notes sold in the offering, assuming a conversion price of US$6.00. Each such Agent's warrant will be exercisable for one common share for US$6.00 per share until three years following the date of issuance.
The Corporation will use the net proceeds of the offering of the Notes to finance the previously announced purchase of gold processing equipment to be used at the Paredones Amarillos gold project and to fund ongoing operations at the Paredones Amarillos gold project.
The above-described securities have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans for financing the Paredones Amarillos Project including the nature and timing of financing; plans for construction and development activities at the Paredones Amarillos Project; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "will", "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com
SOURCE Vista Gold Corp. -
ent on March 5, 2008
DENVER, March 4, 2008 /PRNewswire-FirstCall via COMTEX/ -- Vista Gold Corp. ("Vista" or the "Corporation") (VGZ: vista gold corp com new) announced today that it expects to close its previously announced brokered private placement of up to US$32 million in aggregate principal amount of senior secured convertible notes (the "Notes") of the Corporation. For a description of the Notes, the Corporation refers you to its press release dated February 12, 2008.
The Corporation will use the net proceeds of the offering of the Notes to finance the previously announced purchase of gold processing equipment to be used at the Paredones Amarillos gold project and to fund ongoing operations at the Paredones Amarillos gold project.
The above-described securities have not been registered under the Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and U.S. Securities Exchange Act of 1934 and forward-looking information within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as Vista's plans for financing the Paredones Amarillos Project including the nature and timing of financing; plans for construction and development activities at the Paredones Amarillos Project; and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words "will", "estimate", "plan", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks relating to delays in commencement and completion of construction at the Paredones Amarillos Project; risks of shortages of equipment or supplies; risks that Vista's acquisition, exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; potential effects on Vista's operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; and uncertainty of being able to raise capital on favorable terms or at all; as well as those factors discussed in Vista's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at http://www.vistagold.com
SOURCE Vista Gold Corp. -
project
VANCOUVER, March 7, 2008 /PRNewswire-FirstCall via COMTEX/ -- Northgate Minerals Corporation (CA:NGX) (NXG: Northgate Exploration Limited) confirmed today that the Federal and Provincial Ministries of Environment have announced their decision to accept the recommendation report from the Joint Federal/Provincial Review Panel for the Kemess North project, in which the Panel recommended that the project not be allowed to proceed in its present form. The Ministers' decision will have no effect on Northgate's financial performance in 2008 as the company wrote off the full carrying value of its investment in the Kemess North project in the third quarter of 2007 after the Panel submitted its recommendation report on September 17, 2007.
Details of the final decision on the Kemess North project can be found on the following websites, including the Environmental Ministers' news release issued on March 7, 2008.Canadian Environmental Assessment Agency:
http://www.ceaa-acee.gc.ca/050/viewer_e.cfm?cear_id=3394BC Environmental Assessment Office:
http://www.eao.gov.bc.ca/epic/…pic_project_home_226.htmlNORTHGATE MINERALS CORPORATION is a mid-tier gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. The company is forecasting over 400,000 ounces of unhedged gold production in 2008 and is targeting steady production growth through further acquisition opportunities in stable mining jurisdictions around the world. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG.
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continues unaffected
VANCOUVER, March 4, 2008 /PRNewswire-FirstCall via COMTEX/ -- Northgate Minerals Corporation (CA:NGX) (NXG: Northgate Exploration Limited) announced today that it has received notification from the International Union of Operating Engineers Local 115 (the "Union") that the unionized employees at the Kemess mine voted to turn down the recently negotiated tentative collective agreement. The Union's bargaining committee had unanimously recommended ratification of the agreement to its membership. Further discussions with the assistance of a mediator are scheduled to begin within the next week. All operations at the site continue to run normally, with no disruption to scheduled production.
NORTHGATE MINERALS CORPORATION is a mid-tier gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. The company is forecasting over 400,000 ounces of unhedged gold production in 2008 and is targeting steady production growth through further acquisition opportunities in stable mining jurisdictions around the world. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by Northgate Minerals Corporation ("Northgate") including those related to future financial and operating performance and those related to Northgate's future exploration and development activities, are forward-looking and subject to important risk factors and uncertainties, many of which are beyond the corporations' ability to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, among others: gold price volatility; fluctuations in foreign exchange rates and interest rates, impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; costs of production, capital expenditures, costs and timing of construction and the development of new deposits, and success of exploration activities and permitting time lines; In addition, the factors described or referred to in the section entitled "Risk Factors" in Northgate's Annual Information Form for the year ended December 31, 2006 or under the heading "Risks and Uncertainties" in Northgate's 2006 annual report, both of which are available on SEDAR at http://www.sedar.com, and which should be reviewed in conjunction with this document. Accordingly, readers should not place undue reliance on forward-looking statements. Neither corporation undertakes any obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except in each case as required by law.
SOURCE Northgate Minerals Corporation -
DENVER, March 6, 2008 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) , the leading precious metals royalty company, announced that the conversion of all of its 7.25% mandatory convertible preferred stock ("Preferred Stock") into shares of Royal Gold common stock will occur on March 10, 2008. A Notice of Conversion was previously mailed to registered holders of the Preferred Stock on January 25, 2008.
Based on the average closing price of $29.78 per common share on the Nasdaq Global Select Market, over the 20-consecutive trading day period ending on March 5, 2008, each outstanding share of Preferred Stock will automatically convert into 3.4589 shares of common stock. No fractional shares of Royal Gold's common stock will be issued as a result of the conversion. Holders of fractional shares will receive cash. The Company will issue approximately 3,978,000 shares of its common stock upon the conversion. In addition, Royal Gold will pay the final cash dividend of $0.5035 per share to all holders of the Preferred Stock on March 10, 2008. The Preferred Stock ceased trading on the Nasdaq Global Select Market at the close of business on March 5, 2008, in order to facilitate the conversion.
For the third quarter of fiscal 2008, the Company expects to record an adjustment to earnings available to common stockholders for dividends related to the Preferred Stock of $1.6 million, or $0.05 per common share, in addition to a non-cash "deemed dividend" charge of approximately $2.0 million, or $0.06 per common share. Other than the additional common stock that will be issued and outstanding, there will be no further impact on the Company's financial results associated with the Preferred Stock for any period following the Company's third fiscal quarter. After the conversion, Royal Gold will have approximately 33.9 million shares of common stock outstanding.
Tony Jensen, President and CEO, commented, "Converting the preferred shares to common stock streamlines our capital structure and reduces our cost of capital through the elimination of the 7.25% dividend payment."
Royal Gold is a precious metals royalty company engaged in the acquisition and management of precious metal royalty interests. Royal Gold is publicly-traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at http://www.royalgold.com.
Cautionary "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical matters, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained herein. Such forward-looking statements include statements on the streamlining of the Company's capital structure and reduction of the cost of capital. Factors that could cause actual results to differ materially from projections include, among others, the timing and size of the Company's stock repurchases, precious metals prices, decisions and activities of the operator of the various properties, unanticipated grade, geological, metallurgical, processing or other problems the operator may encounter, changes in project parameters as plans continue to be refined, economic and market conditions, as well as other factors described elsewhere in this press release and in our Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. Most of these factors are beyond the Company's ability to predict or control. The Company disclaims any obligation to update any forward-looking statement made herein. Readers are cautioned not to put undue reliance on forward-looking statements.
SOURCE Royal Gold, Inc. -
TORONTO, ONTARIO, Mar 07, 2008 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. (CA:PDL: news, chart, profile) (CA:PDL.WT: news, chart, profile) (PAL:
north amern palladium ltd com
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Last: 6.91-0.76-9.91%
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PAL 6.91, -0.76, -9.9%) (PAL.WS:
north amern palladium ltd *w exp 12/13/200
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PAL.WS 3.33, -0.53, -13.7%) will release its fourth quarter and year end 2007 financial results on Wednesday March 19th after market close. A conference call to discuss the results will be held on Thursday March 20th, 2008 at 3:00 p.m. ET, presided by Mr. Jim Excell, President and Chief Executive Officer. A question and answer period will immediately follow.
To participate in the conference call, please dial one of the following numbers at least five minutes prior to the scheduled time:Conference Call: Thursday March 20th, 3:00 p.m. ET
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Local Toronto /Overseas: 416-641-6125
Toll free North America: 1-866-226-1799
To access a replay of the conference call until April 3, 2008:
Local Toronto/Overseas: 416-695-5800
Toll-free: 1-800-408-3053
Access code 3253315North America Palladium will also host a live audio webcast. The webcast will be available via http://www.napalladium.com or http://www.vcall.com/IC/CEPage.asp?ID=126220
Thereafter access will be available from the Company's website at http://www.napalladium.com, Investor Centre page, under Conference Calls.
About North American Palladium
North American Palladium is one of North America's largest producers of palladium. The Company's core palladium business at the Lac des Iles mine is strengthened by a significant contribution from platinum, nickel, gold and copper by-product metals. The Company is actively progressing its three advanced exploration projects: the Offset High Grade Zone at its Lac des Iles mine, the Shebandowan West Project, located approximately 100 kilometers from the mine, and the Arctic Platinum Suhanko Project in Finland. Please visit http://www.napalladium.com for more information.Contacts:
North American Palladium Ltd.
Fraser Sinclair
Vice President, Finance and CFO
(416) 360-7971 Ext. 222
Email: fsinclair@napalladium.comNorth American Palladium Ltd.
Linda Armstrong
Director, Investor Relations
(416) 360-7971 Ext. 226
Email: larmstrong@napalladium.com
Website: http://www.napalladium.comSOURCE: North American Palladium Ltd.
mailto:fsinclair@napalladium.com
mailto:larmstrong@napalladium.com
http://www.napalladium.com -
DENVER, Mar 07, 2008 (BUSINESS WIRE) -- Golden Star Resources Ltd. (GSS: Golden Star Resources, Ltd.) (CA:GSC) (GSE:GSR) today announced that Mr. Tom Mair has been appointed President and CEO and as a member of the Board of Directors effective immediately. Mr. Mair has been serving as Interim President and CEO since December 2007. Prior to joining Golden Star as Chief Financial Officer in 2007, Mr. Mair was employed by Newmont Mining Corporation in a number of key roles, including Director, Business Process Improvement; group financial executive at Minera Yanacocha, Peru; Regional Controller, Winnemucca, Nevada and President-Director PT Newmont Minahasa Raya, Indonesia. "The Board believes Tom is eminently qualified to continue to lead Golden Star to the next stage of its development and that our employees, our shareholders and the market will welcome these appointments," commented Ian MacGregor, Golden Star's Chairman.
COMPANY PROFILE
Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa open-pit gold mines and the Hwini-Butre and Benso properties in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 236 million shares outstanding.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the development of Golden Star. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2007.
SOURCE: Golden Star Resources Ltd.Golden Star Resources Ltd.
Bruce Higson-Smith, Vice President Corporate Development
Anne Hite, Investor Relations Manager
+1-800-553-8436 -
Mar 07, 2008 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Golden Star Resources Ltd. (GSS) named Tom Mair president, chief executive and a member of the board, effective immediately.
The Denver mining company and gold producer said Mair, who joined the company as chief financial officer in 2007, had served as interim president and chief executive since December.
In August, the company announced the departure of Peter Bradford, who left to pursue other interests at the end of the year.
Prior to joining Golden Star, Mair worked at Newmont Mining Corp.(NEM). -
JOHANNESBURG, March 7, 2008 /PRNewswire-FirstCall via COMTEX/ -- Gold Fields Limited ("Gold Fields") (GFI: gold fields ltd new sponsored adr) , (JSE: JFI), (DIFX: GFI) is pleased to confirm that it received formal notification from the Department of Minerals and Energy that, following representations by the Chamber of Mines and consultation with all stakeholders, the mining industry had been allocated an additional 260 MW of power which will effectively allow mines to increase their power consumption from the current level of 90% of average historical consumption.
This new allocation will be phased in over the next two weeks and is aimed at minimizing the disruptive impact of power rationing on the mining industry, job losses and mine safety.
Terence Goodlace, head of Gold Fields' South African operations, said today: "We welcome the latest developments. The additional power supply to our mines will help to limit job losses and will have a positive impact not only on our company and its employees, but on the broader economy. We will work closely with Eskom and our peers in the industry to utilise this additional allocation of electricity to the greatest benefit of all stakeholders and to ensure that safety is prioritised.
"As soon as the specific additional allocation for each of our mines is confirmed, we will review our mine plans and production profiles, with a view to increasing production near to levels prior to those before the reduction in power supply.
"Gold Fields will continue to save power wherever possible as we appreciate that, like everyone in the country, we have a duty to play our part in energy saving."
About Gold Fields
Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of more than four million ounces per annum from eight operating mines in South Africa, Ghana and Australia.
A ninth mine, the Cerro Corona Gold/Copper mine in Peru, is expected to commence production by mid 2008 at an initial rate of approximately 400,000 gold equivalent ounces per annum.
The company has total attributable ore reserves of 92 million ounces and mineral resources of 252 million ounces.
Gold Fields employs some 53,000 permanent employees across its operations and is listed on the JSE Limited South Africa (primary listing), the New York Stock Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
All of Gold Fields' operations are ISO14001 certified. For more information please visit the Gold Fields website at http://www.goldfields.co.za.
SOURCE Gold Fields Limited -
es in along with a PEST Framework Analysis
DUBLIN, Ireland, Mar 06, 2008 (BUSINESS WIRE) -- Research and Markets ( http://www.researchandmarkets.com/reports/c85072) has announced the addition of "Analysis of Gold Fields Ltd." to their offering.
We present Analysis of Gold Fields Ltd. A complete and comprehensive analysis of Gold Fields Ltd, includes an overview of the industry the company operates in, a PEST Framework Analysis of the industry, and then moves on to analyzing the company itself.
Company analysis includes a history of Gold Fields Ltd., a business segment analysis of the segments Gold Fields Ltd. operates through, a look at the organization structure of the company, a geographical operating segments analysis, an analysis of the company's major competitors.
A financial analysis of Gold Fields Ltd. is presented in the report which includes a ratio analysis, basic profit and loss analysis, presentation of the company balance sheet, and much more.
A SWOT Framework Analysis of Gold Fields Ltd. and its competitors completes this in-depth company analysis. -
VANCOUVER, BRITISH COLUMBIA, Mar 05, 2008 (MARKET WIRE via COMTEX) -- GoldQuest Mining Corp. ("GoldQuest" or the "Company") (CA:GQC: news, chart, profile) (FRANKFURT: M1W) is pleased to present an update on the exploration activities with its partner Gold Fields Ltd. ("Gold Fields"). Gold Fields are currently earning a 60% interest in various projects in the Dominican Republic by expending US$5 million over a three year period.
JENGIBRE PROJECT
The Jengibre project was originally sampled by GoldQuest geologists during the regional stream sediment programme funded by Gold Fields. Follow-up of a highly anomalous stream sediment sample discovered outcropping mineralization exposed in a creek. Of fourteen rock samples taken during the original recon phase, seven returned values greater than 5.40% Zn (the highest four zinc values ranges from 23.10 to 30.00% the maximum analytical limit of the package used). Other maximum values from the samples included 5.12 g/t Au, 480 g/t Ag, 5.2% Cu and 260 ppm Mo.
Recent follow-up work by Gold Fields has defined several new areas of hydrothermal alteration and mineralization in the vicinity of the original discovery. Recent rock sampling has returned sample values up to 17.7 g/t and 14.1 g/t Au associated with zones of intense silica-pyrite alteration. Outcropping mineralization has now been identified in five principal zones, four of which are located over a horizontal distance of approximately 1,000 meters. The mineralized outcrops occur at a similar topographic level, suggesting possible lateral continuity of the zones in the form of a shallow dipping stratiform body cross-cut by several sub-vertical faults and possible feeder structures. The fifth zone is located approximately 500 meters further east, where preliminary rock samples grade up to 4.7 g/t Au from a zone of silica-pyrite alteration which trends approximately 450 meters east-west. The style of alteration and mineralization of the fifth zone is similar to that occurring in the other zones.
Gold Fields are currently sampling and geologically mapping the project in detail, intending to drill the mineralized targets as soon as possible. Additional assay results from soil and rock samples will be published as soon as they are received from the laboratory.
The Jengibre discovery is now the third zone of mineralization defined by GoldQuest and Gold Fields in a 35 km NNW-trending belt extending from the Las Tres Palmas and Loma Viejo Pedro properties in the northwest, to
Jengibre in the southeast.
PIEDRA IMAN PROJECT
Gold Fields have recently been focusing considerable work on the Piedra Iman target located approximately four kilometers northwest of the Pueblo Viejo mine currently under option from the Dominican government to a Barrick-Goldcorp joint venture. As announced by Barrick on February 27, 2008, the Pueblo Viejo mine contains reserves of 20.4 million ounces of gold, 423.6 billion pounds of copper, and 117.3 million ounces of silver. Barrick has submitted a feasibility study and notice to the Government of the Dominican Republic in order to proceed with project development.
At Piedra Iman Gold Fields have drilled thirteen holes for a total of 3,171 meters to test for blind high sulphidation mineralization beneath a silica lithocap as proposed in the new geological model(i) developed by the GoldQuest team with leading geological consultant Dr. Richard Sillitoe.
The most encouraging hole to date is PI-13, which cut approximately 60.4 m of favorable-looking multi-episodic silicification, crackle brecciation and hydrothermal breccias. Up to 20% pyrite occurs as disseminations and veinlets within this interval, which represents the most dynamic alteration observed in the Piedra Iman drill core to date.
Approximately two kilometers south of PI-13 additional encouraging alteration with sulphide mineralization has been intersected in hole PI-16 located near holes PI-1, -2, and -3, which were drilled earlier by GoldQuest. Those three holes contain intervals of highly anomalous values of trace metals characteristic of Pueblo Viejo mineralization but they lack significant gold. Results from the current Gold Fields drilling will be released as soon as all final results are received from the laboratory.
CERRO DORADO PROJECT
Gold Fields recently completed four diamond drill holes totaling 1,242 meters at the Cerro Dorado project, a porphyry gold target located 29 kilometers southwest of the Pueblo Viejo,. Drilling tested new geophysical targets defined by Gold Fields (News Release October 18, 2007), and the best intersections were two meters (from 58.00 m) grading 1.13 g/t Au in hole CD-16: and three meters (from 194.50 m) grading 1.10 g/t Au in CD-19. No further work is scheduled by Gold Fields on the Cerro Dorado project.
JOSEFINA PROJECT
At the Josefina porphyry target located 17 kilometers northwest of Piedra Iman, Gold Fields has commenced drilling on recently developed IP geophysical targets which are partially coincident with favorable geology, geochemistry and alteration. Gold Fields intend to complete up to 800 meters of exploration drilling at Josefina.
LOMA VIEJO PEDRO PROJECT
Exploration work is ongoing at the Loma Viejo Pedro project located between the Las Tres Palmas and Jengibre projects in the Western Cordillera of the Dominican Republic. Gold Fields are following up numerous targets identified by GoldQuest geologists during the regional geochemical exploration programme. At Loma Viejo Pedro, rocks of the Upper Cretaceous Tireo Formation host silicic, argillic and pyritic alteration with anomalous gold values. Fifteen of 153 outcrop and float rock samples returned values greater than 1 g/t Au, with a high of 8.8 g/t Au in outcrop. Additional sample results from Loma Viejo Pedro will be published as soon as all assays are received from the laboratory.
OTHER PROJECTS
Gold Fields are currently completing systematic follow-up exploration programmes on a number of other targets identified by the regional exploration programme.
About GoldQuest
GoldQuest is an Exploration company focused on the Dominican Republic. Through regional grass-roots generative exploration and new geological models the Company has built a portfolio of new gold and copper discoveries.
Mr Nathan Brewer, an employee of Gold Fields, is the Qualified Person as defined by National Instrument 43-101, responsible for the technical information noted in this news release and the design and management of the ongoing exploration programmes. David J. Hall, Vice Chairman and Director of the Company, is the qualified person as defined by National Instrument 43-101 and has reviewed the content of this press release. Preparation and geochemical analyses of all samples were carried out by ALS Chemex in Vancouver and Acme Labs in Santiago. Standards, blanks and duplicates are routinely inserted into all sample batches for quality assurance and quality control.
GoldQuest is traded on the TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W.
On behalf of the Board of Directors
Alistair Waddell
(i) Richard H. Sillitoe, David J. Hall, Stewart D. Redwood and Alistair H. Waddell, 2006 Economic Geology Vol. 101 pp. 1427 - 1435. "A New Model of Formation Beneath Barren Limestone Cover for the Giant High Sulphidation Gold-Silver Deposit at Pueblo Viejo, Dominican Republic". -
JOHANNESBURG, March 3, 2008 /PRNewswire-FirstCall via COMTEX/ -- Gold Fields Limited ("Gold Fields") (GFI: gold fields ltd new sponsored adr) (JSE:GFI)(DIFX: GFI) is pleased to report that two of its operations - Driefontein Gold Mine on the West Rand and Beatrix Gold Mine in the Free State - have both achieved one million fatality-free shifts.
Terence Goodlace, head of Gold Fields South African operations, described the achievement as a "magnificent double in mine safety". He said: "Safety remains our top priority and we have refocused all our efforts to ensure that no harm comes to any of our employees while at work.
"We will continue to strive to eliminate fatal accidents at all our operations. Driefontein and Beatrix have shown that it can be done."
About Gold Fields
Gold Fields Limited is one of the world's largest unhedged producers of gold with attributable production of more than four million ounces per annum from eight operating mines in South Africa, Ghana and Australia.
A ninth mine, the Cerro Corona Gold/Copper mine in Peru, is expected to commence production by mid 2008 at an initial rate of approximately 400,000 gold equivalent ounces per annum.
The company has total attributable ore reserves of 92 million ounces and mineral resources of 252 million ounces.
Gold Fields employs some 53,000 permanent employees across its operations and is listed on the JSE Limited South Africa (primary listing), the New York Stock Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
All of Gold Fields' operations are ISO14001 certified. For more information please visit the Gold Fields website at http://www.goldfields.co.za.
SOURCE Gold Fields Limited -
JOHANNESBURG, Mar 07, 2008 (Dow Jones Commodities News via Comtex) -- Gold Fields Ltd. (GFI) Friday said additional power supply to its mines will help to limit job losses and have a positive impact on the company and the broader South African economy.
"As soon as the specific additional allocation for each of our mines is confirmed, we will review our mine plans and production profiles, with a view to increasing production near to levels prior to those before the reduction in power supply," Terence Goodlace, head of the Johannesburg-based company's South African operations, said.
The country's Department of Minerals and Energy has allocated an additional 260 Megawatts of power that will effectively allow mines to increase power consumption from the current level of 90% of average historical consumption.
This new allocation will be phased in over the next two weeks and is aimed at minimizing the disruptive impact of power rationing on the mining industry, job losses and mine safety.
Company Web site: http://www.goldfields.co.za -
JOHANNESBURG, Mar 07, 2008 (Dow Jones Commodities News via Comtex) -- Gold Fields Ltd. (GFI) Friday said any increase in power supply to its operations could ameliorate possible job losses recently unveiled.
Andrew Davidson, spokesman for the Johannesburg-based gold producer, said any easing of the power rationing to South African mines and smelters would be welcomed, Gold Fields hasn't heard officially that electricity supplies will be increased.
Gold Fields recently said it may cut as many as 6,900 of its 53,000-strong workforce and expects a reduction in gold production as a result of reduced electricity supplies.
The country's government late Thursday during the next two weeks an additional up to 260 megawatts of electricity would be allocated to mines, although the industry will still be restricted to about 95% of normal power use.
The increase would occur in a phased manner and on a case-by-case basis, the departments of minerals and energy and public enterprises said in a joint statement.
Company Web site: http://www.goldfields.co.za -
LONDON, Mar 05, 2008 (Dow Jones Commodities News via Comtex) -- Johannesburg-based gold mining company Gold Fields Ltd. (GFI) said Wednesday that the industry is hoping for a 5% power increase to mines but that it is not expecting 100%, a company spokeswoman said.
On Friday the South African government is expected to announce if it's able to increase power to mines while still maintaining the stability of the country's electricity system.
"It is highly unlikely that we get the full 100%," the spokeswoman said, adding even before the cut down to 90% at the beginning of February when the country cut power forcing mines to shut for several days, the government was asking industry to reduce power usage by 10%.
"We will appreciate any increase of power," she added. -
JOHANNESBURG, Mar 03, 2008 (Dow Jones Commodities News via Comtex) -- Edited Press Release
Gold Fields Ltd. (GFI), Africa's second-largest gold producer, Monday said its Driefontein Gold Mine on South Africa's West Rand and Beatrix Gold Mine in the Free State province both have achieved one million fatality-free shifts.
"We will continue to strive to eliminate fatal accidents at all our operations. Driefontein and Beatrix have shown that it can be done," Terence Goodlace, head of Gold Fields' South African operations, said.Company Web site: http://www.goldfields.co.za
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GOLDEN, Colo., Feb 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- Canyon Resources Corporation (CAU: canyon resources corp com new) , a Colorado-based mining company ("Canyon"), is pleased to announce the results of a 15-hole 4,800 foot reverse circulation drilling campaign completed in January at its Cecil R property located five miles north of its Briggs Mine in Inyo County, California.
Highlights from the latest drilling campaign include:
-- Hole CR07-5 with 25 feet (7.6 meters) of 0.039 ounce per ton ("opt")
Au (1.35 gram per tonne ("gpt") Au).-- Hole CR07-9 with 25 feet (7.6 meters) of 0.045 opt Au (1.54 gpt Au).
-- Hole CR07-12 with 30 feet (9.1 meters) of 0.025 opt Au (0.87 gpt Au).
-- Hole CR08-13 with 30 feet (9.1 meters) of 0.032 opt Au (1.10 gpt Au)
and a second interval of 50 feet (15.2 meters) of 0.024 opt Au (0.817
gpt Au)."This additional drilling information on the Cecil R property supports Canyon's belief that Cecil R, as a satellite deposit to our Briggs Mine, could significantly add both mine life and profitability should we proceed with surface and underground development at Briggs. Planning and permitting at Cecil R would require an estimated three years and would be initiated once mining re-starts at the Briggs Mine. The known mineralization at Cecil R could potentially extend the life of the Briggs Mine by approximately three years," comments James Hesketh, President and CEO.
The goal of this drilling program was to expand known gold mineralization that is found in a tabular body at a low angle contact surface between poorly sorted bedded gravels and a gold-enriched erosion surface on crystalline basement rock. Mineralization pinches and swells and is locally cut out along this contact. Drill holes in this program tested the extensions of known gold mineralization to the north and the west and provided sufficient infill information to facilitate a new resource evaluation. The completed drilling substantially extended the known gold-bearing horizon to the north and west beyond the limits of the previous estimate of mineralization. The ridge immediately to the south of the known mineralization shows the same prospective gold-bearing horizon exposed along its flanks and in historic exploration workings. The contact zone, exposed immediately below the gravel cover along gullies cutting this ridge, is well developed and offers an attractive target for expanding the mineralized zone.
Previous to this drilling campaign, an estimate of 5.75 million tons of in-place mineralized material grading 0.024 opt, using a cut-off grade of 0.015 opt, had been calculated for the Cecil R deposit. This estimate is based on the 51 holes drilled at Cecil R from 1975 to 2006.