Beiträge von newtechxl
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The Ruby Creek Molybdenum (RCM) Porphyry deposit, located 24 km NE of Atlin, BC, was first drilled in 1969 and has since had approximately 31,959 metres (104,826 ft) of diamond drilling carried out by the original Adanac Mining and Exploration Ltd., Kerr Addison Mines Limited (“Kerr Addison”), Climax Molybdenum Corporation and Placer Development Limited (“Placer”) up to 1981.
In addition Kerr Addison completed a program of underground development of 1,116 metres (3,660 ft) entailing adit access, cross-cutting and raising six holes to produce 9,545 tonnes of ore for on-site processing on a 100 tonnes/day pilot mill. Test work in 1970 was to determine mill head recoveries which averaged 91% and were used in subsequent feasibility studies (three) carried out by Kerr Addison in 1970, Placer in 1978 and 1979. Bulk sampling & milling by Kerr Addison reported recoveries 17% to 26% higher than diamond drill hole results, reserve figures are based on diamond drill values. The 1979 study was a stage II feasibility which was put on hold pending an investigation of the uranium content within the deposit. Content of uranium was found to be less than 20% of allowable thresholds with no more impact on the environment than the surrounding plutonic rock. At the end of the study the molybdenum price had dropped considerably to the $2.00–$3.00(US) range where it remained with the exception of two or three short lived spikes until the summer of 2003. Molybdenum prices have increased from $6.00(US) to the current price of $28.75(US) over the past 12 months.
Adanac has recently completed 9,022 metres (29,592 ft) in 36 holes for a total (including drilling by predecessors) of 40,981 metres (134,418 ft) in 248 holes.
Adanac has the following advantages over the predecessor companies:
Adanac has a 100% interest in the property, whereas the original property was burdened by a 3.5% NSR to Johns Manville. Kerr Addison could only earn a 60% interest and Placer a 70% interest.
The price of molybdenum is fifteen times the price at which Kerr Addison undertook feasibility work in 1970 and 4.8 times the price when Placer undertook its feasibility studies.
Multi-billion dollar long term contracts are being entered into by Chinese corporations for the supply of iron ore which bodes well for molybdenum due to its extensive use in stainless steel and other steel products. Indications are for a long sustained demand for molybdenum ore.
Currently surplus power is available from the Yukon Grid which would require the company to install only 100 kilometres of transmission line. Yukon power was not available in the 1970's and 1980's.
Road access to Skagway, Alaska's deep water port is now available.
To date 16 of 36 holes drilled have been assayed and released. We are pleased with the results of the reported holes, as continuity and grade within the historic pit study, are comparable to past results. The historic pit study carried out by Placer resulted in an historic estimate of 151,971,000 tonnes grading .063% Mo (.105% MoS2), however, the company has not been able to obtain enough of the original data and has not done the work necessary to verify the classification of the resource or reserve, we are not treating them as a NI 43-101 defined resource or reserve verified by a QP, and the historical estimate should not be relied upon. The Company's 36 hole program was designed by AMEC PLC to enable the Company to complete a new NI43-101 resource calculation by a qualified person which the Company would be able to use in carrying out a feasibility study.In addition, 8 drill holes of the 36 hole program were drilled outside of the pit limit and pending assay results along with three holes reported extend existing mineralization by 270 metres.
Ten months ago we initiated an in-house economic evaluation by D.W. Philip Mining Services, to consider advancing the project through feasibility. D.W. Philip's report recommended the company should advance the project at current prices of $6.00/lb for molybdenum and to date the following steps have been taken:
Adanac in late January 2004 increased its property holdings to 4,325 hectares which now cover the proposed waste dumps, tailings pond, concentrator and construction camp as proposed in the Stage II feasibility by Placer Development Limited in 1979.
Adanac appointed David Philip P, Eng. as Project Manager.
AMEC PLC was engaged for the NI 43-101 reserve report.
AMEC PLC recommended a 9,000-10,000 metre drill program of in-fill, twin holes and exploration targets.
Klohn Crippen Consultants was retained to initiate environmental and socio-economic studies for the Ruby Creek Molybdenum Project. Field work is now completed and a draft for submission to the BC Government is under review.
We completed a soils and a geochem survey resulting in a wide area of mineralization averaging 235 ppm Mo, located 1.5 kilometers east-northeast of the current Ruby Creek Molybdenum occurrence.
Aurora Geosciences Ltd. completed an Induced Polarization Survey to assist in drilling in the Adera Fault area.
Adanac appointed Robert Pinsent PhD., P. Geo, Exploration Manager. Dr. Pinsent was the manager of the exploration drill program for Placer in 1980.
Falcon Drilling Ltd. completed 36 hole drill program, 9,022 meters (29,592 ft), with 20 drill holes awaiting assay.
Underhill Geomatics Ltd. was retained for surveying previous and present drill holes to locate co-ordinates and elevations for AMEC PLC to begin its NI 43-101 reserve study.
The company's goal is to fast track a feasibility study of the RCM project in order to (if a positive feasibility study is achieved) obtain an estimated production of 10,000,000 lbs of molybdenum a year and capitalize on the strong price and demand for molybdenum in order to achieve a fast payback of investment.The company is currently contacting interested organizations in North America and China to initiate preliminary discussions for marketing its product as well as financing on the successful completion of its NI 43-101 reserve study and feasibility work. When AMEC PLC completes the NI 43-101 reserve report, Adanac will immediately proceed with the feasibility study.
In addition, in a move designed to augment our position as a developer of molybdenum properties, we have acquired a 100% interest in a Nevada molybdenum property, known as the Nevada BC Property, located in Nye County, 12 miles southeast of Gabbs, Nevada.
The Nevada BC Property consists of 46 unpatented lode mining claims and cover a significant part of a large flat tabular molybdenum occurrence measuring approximately 1,195 meters (3,920 feet) long X 465 meters (1,525 feet) wide X 51 meters (167 feet) thick. Prior drilling (66 diamond and RC holes) by US Smelting Refining and Mining (USS RAM) encountered molybdenum, copper and silver values over the area encompassing the tabular structures. The discovery hole located in proximity to our claims averaged .30% Mo (.50% MoS2) over 24.4 meters (80 feet). Part of the tabular structure containing the discovery hole is located on the claim which is retained by a subsidiary of USS RAM. WE have initiated discussions with the owners of the one claim in order to advance the project reported to contain 131 million tons grading .12% Mo (.20% MoS2) on page 58 and 74 of the 1985 US Bureau of Mines circular 903-5, and titled Principal Deposits of Strategic and Critical Minerals of Nevada, however , we have not been able to obtain enough of the original data and have not done the work necessary to verify the classification of the resource or reserve, we are not treating them as a NI 43-101 defined resource or reserve verified by a QP, and the historical estimate should not be relied upon.
The 100% interest is subject to a 1.25% NSR – 1% (4/5 of which of which may be purchased for $2,000,000
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Ein weiteres Moly-Unternehmen !
Adanac Moly Corp: the first moly dedicated junior
The earliest bird among the exploration juniors is Adanac Moly Corp (AUA-V: $0.82), which staked the 4,325 hectare Adanac molybdenum deposit in July 2001 while the company was still called Stirrup Creek Gold Ltd and struggling to reactivate itself. Stirrup consolidated its stock 5:1 on October 31, 2003 and renamed itself Adanac Gold Corp even though the TSXV had classified it as a "copper-molybdenum" company. Larry Reaugh's caution was likely linked to his earlier foray into molybdenum exploration. During the mid nineties he had pushed two other companies, Molycor Gold Corp (MOR-V) and Verdstone Gold Corp, into molybdenum exploration with several prospects in southern British Columbia. In March 1997 both companies secured an option on the Yorke-Hardy deposit near Smithers and investigated putting its high grade core into production at 3,000 tpd. They abandoned the option several years later and gave up their molybdenum focus. By November 2004, however, molybdenum's rocketing price had turned Larry Reaugh into a believer once again and he changed Adanac's name to Adanac Moly Corp.The Adanac deposit, now renamed Ruby Creek, was discovered in 1898 but did not undergo serious exploration until the 1967 when a junior called Adanac Mining and Exploration staked the property. Kerr Addison optioned the property and completed a feasibility study in 1971 but declined to proceed. Placer optioned the project in 1978 and initiated permitting for a 14,000 tpd mine on the basis of a resource calculation of 151,971,000 tonnes of 0.063% Mo but lost interest in 1982 and dropped its option. John Lamacraft's Adanac merged with John Weatherall's Bell Molybdenum Mines in 1995, which in 1997 acquired an airborne geophysical survey company called Aerodat and renamed itself Bell Earth Services. The Adanac (Ruby Creek) claims lapsed after Aerodat went bankrupt in 1998 and Bell Earth delisted from the VSE in 1999, enabling Larry Reaugh's unrelated Adanac to stake the deposit in 2001. In late 2003 the new Adanac initiated a scoping study on the Ruby Creek deposit which concluded that at $6/lb molybdenum a 14,000 tpd milling operation with a 17 year mine would have a 16% internal rate of return and a rather abysmal net present value of Cdn $3.5 million. The scoping study envisioned construction of a nearby 10,000 kilowatt hydroelectric facility to provide power. The Ruby Creek deposit is located in the northwestern corner of British Columbia 25 km northeast of the small town of Atlin, a location which would qualify as remote and lacking in infrastructure. During 2004 Adanac completed a 36 hole 9,000 metre drill program that consisted mainly of infill drilling but also included some stepout holes. Although historical resource calculations were made by major mining companies, they are not in compliance with 43-101 requirements and some of the data needed to make the resource 43-101 compliant is no longer available. The purpose of the 2004 drilling was to allow a reserve study which will yield a 43-101 compliant resource. Adanac's goal in 2005 is to complete a prefeasibility study which justifies putting the Ruby Creek deposit into production as a pure molybdenum mine.
Adanac completed a flurry of financings during December 2004 that raised several million dollars. On December 21 Adanac received approval for a short offering financing of 2.4 million units at $0.50 by Canaccord. Once this financing is done Adanac will have about 50.1 million shares fully diluted. The company has 5.8 million private placement warrants outstanding that escalate from $0.40 to $0.50 on July 7, 2005. During August 2004 Adanac acquired the Nevada BC project in Nevada on reasonable terms. The Nevada BC property covers part of a tabular molybdenite bearing body controlled by US Smelting and Refining. Should Adanac secure a reasonable option on the USS claims the Nevada BC project could also become a significant moly play. This project in Nevada somewhat offsets the risk associated with the upcoming May 2005 provincial government elections in British Columbia. If the anti-development New Democrat Party comes back into power exploration and mine development in British Columbia will likely once again hit a wall of resistance that would kill the market's appetite for plays such as Ruby Creek. At the moment it does not look like the NDP will replace the incumbent Liberals (not the same as US Democrats), but BC politics is such that nothing can be taken for granted. Adanac has an advantage over other moly juniors in that the company has established a high profile as a molybdenum exploration junior. The company's web site, http://www.adanacmoly.com, provides links to current molybdenum prices and charts.
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Roca: sneaking into production with a 75,000 tpd small miner permit
Roca Mines Ltd (ROK-V: $0.34) is the sister company to Stikine Gold Corp (SKY-V: $0.35), a top priority bottom-fish buy recommendation in the $0.30-$0.49 that drilled a deep hole in 2004 that nipped the edge of Sullivan-style Sedex system next door to the world-class Sullivan deposit. Since peaking at $0.70 in late September when it hit its target Stikine stock has been consolidating in the $0.30-$0.40 while management completed a new downhole UTEM survey. Preliminary interpretation suggests that the massive sulphide zinc-silver mineralization is the western fringe of a large sulphide body that extends northward, and not the down-dropped northern fringe of the near-surface Sullivan deposit located south of the Kimberley fault. Stikine is drilling a wedge hole expected to intersect the sedex system 100 metres closer to its centre, but the critical test will take place later this year when the junior drills another deep hole aimed at the guts of the sulphide body. I continue to regard Stikine as a top priority bottom-fish buy, though this time around I do not think the market will care until it is given a high grade 10-20 metre interval which confirms that Sullivan Deeps is indeed a sister to Sullivan.Roca, which spent most of the $2 million it raised in June 2004 through a 10,000,000 units at $0.20 Canaccord short form offering on the Foremore volcanogenic massive sulphide play in northwest British Columbia, has toiled in the vociferous but small shadow cast by Stikine's Sullivan Deeps market play. Although Roca management is encouraged by the results of the 36 hole 5,900 metre drill program at Foremore, the market can barely stifle its yawn. What has started to catch the market's attention since mid November is the Max molybdenum deposit Roca optioned 100% in January 2004. Roca can earn 100% by paying $200,000 and issuing 600,000 shares in stages by Januaty 16, 2007, subject to a 2.5% NSR of which 1.5% can be bought out for $2 million.
The Max deposit was originally called the Trout Lake deposit because of its proximity to a major trout lake called, you guessed it, Trout Lake. The property first received exploration in 1969 when Scurry Rainbow optioned it from a prospector. In 1975 Newmont optioned the property and formed a joint venture with Esso Minerals that drilled 32 holes from surface totaling 15,747 metres, drove 2,000 metres of underground development, and drilled 87 holes from underground totaling 22,151 metres. After spending $14.9 million and establishing a geologic resource of 49.7 million tonnes of 0.116% Mo at a 0.06% Mo cutoff, which included a 4.8 million tonne core of 0.29% Mo at a 0.15% Mo cutoff, Newmont stopped work in 1982 when molybdenum prices collapsed. Newmont maintained title to the property by making the final option payments and during the early nineties bought out Esso's 45% stake. Newmont let the key claims covering the deposit lapse in 1997 through some sort of screwup, whereupon they were promptly staked by a private company. Newmont completed reclamation work in 2003, which included plugging the portal and burying the old core. After optioning the central claims Roca drilled two holes in May 2004 to confirm reported grades, and in August 2004 Roca acquired the remaining Newmont claims and the exploration data set for a 2.5% NSR, of which 1.5% can be bought for $2 million, and 200,000 shares issuable upon a production decision. Roca has also agreed to be responsible for any further reclamation liability. The Newmont claims that overlap with the 6 km area of interest surrounding the core claims are also subject to that vendor's 2.5% NSR.
As the diagram reveals the Max deposit is a deep porphyry system with pipelike extension whose ore will have to be extracted through underground mining. In 1982 Newmont came up with a 1,500-3,000 tpd underground mining plan that would have targeted a resource of 8,189,000 tonnes of 0.217% Mo at a 0.12% Mo cutoff. Newmont also conducted environmental studies on the valley below the portal whose wetlands drain into Trout Lake and concluded that a tailings dump upslope near the portal would not have a negative environmental impact. Roca will have to demonstrate that any mining plan will not impact the sensitive valley habitat. Terry Maccauley has reviewed the old Newmont data and produced a 43-101 compliant resource calculation which estimates a measured and indicated resource of 42,940,000 tonnes of 0.12% Mo at a 0.06% Mo cutoff, which includes a high grade core of 1,380,000 tonnes of 0.564% Mo at a 0.3% Mo cutoff. Roca has retained Hatch Associates Ltd to conduct a scoping study which will explore two development avenues. The first scenario would focus on the high grade core and take advantage of British Columbia's 75,000 tonnes per year small miner permitting system. Although this approach would produce only about 900,000 lbs of molybdenum per year, it has the advantage that it could be in production within a year and take advantage of high molybdenum prices. This scenario would involve finding a third party roaster, and because the Max concentrate has a minor copper content, it would have to be submitted to acid leaching before roasting. Hatch will also look at a larger scale 2,000-3,000 tpd mining scenario. Roca's immediate plans are to reopen the portal and conduct underground infill drilling to tighten the high grade resource.
Following a recent private placement financing of 1,750,000 units at $0.30 through Canaccord and Bolder Roca will have about $1 million working capital. In late November Frank Giustra's Endeavor Financial took down most of a 2 million units at $0.25 private placement. UK based RAB Capital, which has also been a big investor in Stikine Gold, holds just under 20% of Roca's issued stock. On a fully diluted basis Roca has about 48.4 million shares out, which gives its 100% owned Max project an implied value of only $16 million, about a third that enjoyed by Adanac's Ruby Creek project. Roca's Scott Broughton is an engineer by profession, and although the company still talks highly of its Foremore VMS project, I suspect that in 2005 the Max molybdenum play will become the top priority, particularly if MolyMania takes hold in the market.
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ROK.V ROCAF.PK (ROCA MINES INC)
http://www.rocamines.com
info@rocamines.com
47.8 mil shares fully diluted (Feb, 2005)
@ $.37/share Cdn x .81 US/Cdn = $.30
$14 mil MC
MAX Molybdenum Project
Foremore project, 45km north of Eskay Creek -
Wer von Euch kennt sich mit dem Unternehmen aus ? Sind im Bereich der molybdenum erploration tätig.
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Vancouver BC, March 4 - Scorpio Mining (TSXV:SPM) - Management is
extremely pleased about new developments at the Nuestra Senora project
in Sinaloa State, Mexico. Recent meetings at the Mexican office with
members of the Scorpio team have outlined the 2005 work schedule
timeline as we proceed with the development of our Nuestra Senora
Project. To date, underground sampling, drilling and development have
delineated high-grade silver-zinc mineralization at the Candelaria
deposit. At the adjacent Nuestra Senora deposit, wide intersections of
silver-copper-lead-zinc mineralization have been discovered in our
initial drill program and resemble zones previously mined by ASARCO.Financial Position:
The company holds 100% ownership of the Nuestra Senora mineral rights
with no underlying royalties or interest payments. The Company is
financially strong, with· $10 million in cash
· No debt
· $5.6 million of unexercised warrants in the $0.60 - $0.75 range
· $11.25 million of unexercised warrants at $3.00
· $12 million book value inventory of mining and mill equipmentCandelaria Deposit
The mineralization encountered to date at Candelaria is the bonanza
carbonate replacement deposit (CRD) style that was expected. Third
party structural studies show that the Candelaria mineralizing system
is approximately 150 metres higher up in the system than the Nuestra
Senora deposit and that the mineralization and structures may open up
or get greater at depth and thus start to resemble that of the Nuestra
Senora mineralization. At the Candelaria deposit we continue to define
the mineralization and at this time we have 2 dedicated underground
drills at the deposit.Nuestra Senora Deposit
Management is extremely pleased with initial surface drill results from
the Nuestra Senora deposit, which report very broad zones of
mineralization containing multiple high-grade sections. To date, over
20 holes have been drilled and the results indicate the presence of
several significant polymetallic mineralized zones within and beneath
the previously mined-out portions of the deposit. These results support
Scorpio's interpretation of the historic ASARCO data, and may
significantly impact the Company's stated goal of quickly establishing
a meaningful resource and progressing to the next step of making a
production decision. At this time we have one dedicated surface drill
delineating the scope of mineralization of this newly defined area of
the deposit. Systematic underground definition drilling of these new
zones is planned from an access ramp that is now being driven.The 2005 Development Plan
- Definition drilling continues within the Candelaria Mine.
- Initial Access Ramp development on the Nuestra Senora deposit is in
progress, on schedule and within budget. This will provide drill bays
for underground definition drilling of the recently discovered
mineralized zones.
- From surface, definition drilling of the deeper areas of the Nuestra
Senora continues
- On a trial ratio of 9 parts Nuestra Senora mineralization to 1 part
Candelaria mineralization (this may change to an 8:2 ratio) a
large-scale bulk sample is being extracted and sent to Rocky Mountain
States Laboratories in Tucson, Arizona for final metallurgical work.
- The laboratories will be supplied smelter requirements which will
determine the final product of the metallurgical testing.
- We continue with permitting and tailing studies of the proposed mill
site
- We continue with the cost evaluation of establishing the hydro lineThe total projected cost of this program is approximately $5 million
and estimated to be completed by late July 2005. At that time the
Company will have in hand:· resource estimates for both the Candelaria and Nuestra Senora
deposits
· all metallurgical work completed in order to design a flow sheet for
mill construction
· final concentrate products to finalize smelter contracts
· mining costs tracked plus necessary data to have a third-party
feasibility study commissioned
· well-positioned to potentially give the go ahead for mill
construction and stope preparation based on the drilling.A cross-sectional view illustrating the current development at the
Nuestra Senora and Candelaria deposits is available on the Company's
website at: http://www.scorpiomining.com/s/NuestraSenora.asp.Project milestones and accomplishments in 2004:
· 100% property acquisition plus the addition of another 15,000
hectares of property
· Assembly of a team of 70 geology, mining and milling professionals
and staff
· Construction of a 28-km access road
· Surface infrastructure to support underground development
· Purchase of mining equipment and major mill components
· Underground development work on the Candelaria deposit included over
700 metres of ramp advancement, and 520 metres of drifting in
mineralization on several levels
· 9,000+ metres of surface and underground drilling
· Mineralized material has been stockpiled on surface and sampled for
bulk metallurgical testing
· Confirmed by metallurgical testing that the mineralization is
amenable to floatation and heavy medium separation (if required)
· Developed excellent relations with the Sinaloa State Government and
with local community officials who are strongly in support of the
Company's activities in this region of high unemployment
· Established the Land-Use and Right-of-Way Agreement encompassing all
land owned by Scorpio
· The Environmental Impact Statement prepared by consultants "Sevicios
Professionales Nautilus AC" to the University of Sinaloa for validation
prior to submittal to the Secretariat of the Environment and Natural
Resources as part of the ongoing permitting processInvestor / Analyst Meetings
Scorpio's management team looks forward to meeting and updating
shareholders, prospective investors, analysts and interested observers
at the PDAC, March 6 -- 9 in Toronto at booth # 2508 and to presenting
Scorpio's newly developed three-dimensional Nuestra Senora deposit
model designed to help illustrate the very high potential of the
project, as well as a narrated video presentation of the project and
the underground development.We look forward to sharing our success with our investors as we move
forward in a very eventful year for the Company.For further information please visit the Company's website:
http://www.scorpiomining.com.ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
President & CEO -
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Habe was Interessantes gefunden. Lohnt sich zu lesen, dann können wir ja über die Minen sprechen.
Newtechxl
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Nevada Pacific Provides A Summary Of Second Quarter Operating Activities
Nevada Pacific Gold Ltd. (TSX Venture Exchange -- Symbol NPG) wishes to announce the operating results for the three months ended December 31, 2004 and the Company's second fiscal quarter.
The Magistral Mine
The Magistral Mine revitalization program was completed in January 2005 and the mine is now in commercial production. With the completion of all revitalization programs the mine has now entered a new phase of operations and gold production is forecasted to continue to improve going forward.
During the quarter the Magistral Mine produced 3,860 gross ounces, (3,747 ounces of gold, net of royalties), and sold 3,563 ounces at an average price of US$429. During the six months to December 31, 2004 a total of 7,065 gross ounces (6,822 ounces of gold, net of royalties), have been produced and 6,835 ounces have been sold at an average price of $415. During the pre-commercial revitalization period all revenues from the sale of gold were recorded as a reduction in operating costs and the net amount was deferred as mine property. Since acquisition the Magistral Mine has produced, as of December 31, 2004, 16,182 ounces of gold. Silver continues to be stockpiled.
During the second quarter of fiscal 2005, management focused on waste removal at the Magistral Gold Mine while the crusher circuit was being upgraded. A total of 115,307 tonnes of ore and 1,312,696 tonnes of waste were mined with a waste to ore strip ratio of 11.4:1. The average grade of the mined ore was 1.6 grams gold per tonne for a total of 5,751 ounces of gold.
For the six months ended December 31, 2004, a total of 244,337 tonnes of ore and 2,139,375 tonnes of waste were mined for a strip ratio of 8.8:1.The average grade of mined ore was 1.5 grams gold per tonne for a total of 11,538 ounces of gold. The recoverable gold inventory remaining on the heap at December 31, 2004 was estimated to be 4,207 ounces.
The Mine is experiencing improved results with the completion of the revitalization project. The additional mine equipment added to the fleet in October 2004 has resulted in increased tonnes being mined. The high waste to ore stripping ratios in the current fiscal year related to the San Rafael pit have ended. The completion of the waste removal will result in a significantly lower strip ratio for the San Rafael pit going forward. The modifications to the crushing circuit consisting of a larger capacity screen, converting the primary crusher drive motor to electric from diesel and closing the circuit were completed in late January 2005. The crusher is now achieving the goal of sustained throughput in excess of 250 tonnes per hour with a crush size in excess of 80% of the product crushed to ½ inch minus as was forecasted in the mine revitalization plan. The process plant has been upgraded to 6,500 cubic metres of solution per day and continues to realize a lower unit cost relating to the higher throughput. There have also been several administrative changes, including the relocation of the administrative office to the mine site, and upgrades to the communications infrastructure which will improve management of the mine.
Magistral Mine Exploration Review
Nevada Pacific controls an area of 400 square kilometres surrounding the Magistral Mine. A systematic review of the near mine geology based on a review of previous exploration data led to further surface sampling which successfully demonstrated the potential to increase resource/reserve adjacent to the mine and to discover and develop additional resources throughout the mining camp. During the quarter Nevada Pacific announced the commencement of a US$1 million exploration and drilling program that will consist of up to 20,000 metres (65,000 feet) including both core and reverse circulation drilling. The program will focus on targets in the immediate area of the Mine which are the La Prieta High Grade Zone, Samaniego Open Pit, West San Rafael Zone, San Rafael Open Pit, Lupita-Sagrado Corazon reserve/resource area, Lucy Zone, South of Sagrado Corazon and the Cerritos Porphyry System.
Nevada Pacific US Exploration Projects
Cornerstone Project
An extensive surface based exploration program was conducted in the quarter. The exploration program identified four zones of mineralization: the Flag zone, CSZ zone, TR zone, and BuTr zone. Each zone returned anamolous rock chip samples and elevated pathfinder elements indicating strong potential at surface. Sampling at the Flag zone outlined a north-south trending area, 3000 feet long by up to 850 feet wide, of anomalous soils and rock chips (with rock chip samples returning up to 0.317 ounce per ton gold). The CSZ trend forms the southern end of the Flag zone, but trends north-northwest along one of the Cortez trend parallel structures, returned rock chip values up to 0.099 ounces per ton gold. Twenty-four of sixty-nine rock chips taken to date contained assays greater than 0.025 opt gold.
Timber Creek Project
Nevada Pacific recently acquired geologic data shows historical drilling containing 20 feet of 0.06 opt gold, 10 feet of 0.035 opt gold and 25 feet of 0.01 opt gold distributed over an area measuring 1,600 ft by 1,000 ft. In addition, data also shows an anomalous copper, molybdenum and zinc area measuring 7,000 ft by 5,000 ft of which a large portion of this anomalous area falls on Nevada Pacific ground.
Keystone Project
Localized zones of massive sulfide mineralization mentioned in previous news releases, is hosted in an area that measures 4,000 feet by 1,000 feet. Nevada Pacific plans to conduct an exploration and drilling program along the margin of the intrusive to test the high-grade base metal potential of the area. As part of the September 2004 joint venture agreement between Nevada Pacific and Placer Dome U.S., Nevada Pacific retains the rights to base metal and silver.
Amador Canyon Project
Drilling has demonstrated that the original exploration model of bulk mineable silver does not exist in the area drilled by Nevada Pacific. What was demonstrated was that high grade silver, up to 34 ounces over five feet, is present in localized areas. Although management believes that additional work is warranted in the southern half of the project area Nevada Pacific has elected to write off 100% of capitalized expenditures.
Placer Dome U.S. Joint Venture Agreement Exploration Projects
Limousine Butte Project
On September 7, 2004, the Company signed a binding letter agreement with Placer Dome U.S., a wholly owned subsidiary of Placer Dome Inc., whereby Placer Dome U.S. has the right to earn a 60% interest in the Limousine Butte project by spending $4,000,000 on exploration over a five-year period. Placer Dome can earn an additional 15% interest by completing a feasibility study.
Recent staking of unpatented mineral claims by Placer Dome U.S. has nearly doubled the land package at Limousine Butte to include 972 unpatented claims or just over 30 square miles (19,440 acres). Placer Dome has completed additional detailed geologic mapping and sampling in the Resurrection Ridge area, Pit area and to the southwest of Resurrection Ridge. Current data indicates the potential for additional mineralization to extend for an unknown distance southwest of the pit area, along the margin of the caldera.
Keystone Project
On September 7, 2004, the Company signed a binding letter agreement with Placer Dome U.S., whereby Placer Dome U.S. has the right to earn a 60% interest in the Keystone project by spending $5,000,000 on exploration over a five-year period. Placer Dome U.S. can earn an additional 15% interest by completing a feasibility study.
Placer Dome continues gold exploration as per the above-mentioned agreement. As a result of fieldwork conducted during the fall of 2004 by Placer Dome U.S. two priority areas have been identified to date that will be the major focus for early 2005.
BMX Project
On December 2, 2002 the Company signed a binding letter of agreement with Placer Dome U.S. whereby Placer Dome U.S. has the right to earn a 60% interest in the BMX project by spending US$4 million over a five year period. Placer Dome U.S. can earn an additional 10% interest (70% total) by carrying Nevada Pacific through a feasibility study. Nevada Pacific is the exploration operator at the BMX project.
Ross Zawada, P. Geo., is a Qualified Person as defined by National Instrument 43-101 and is responsible for exploration program design and quality control undertaken by the Company at their Mexican Operations.
Curt Everson, P.Geo., M.Sc. is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by the Company in Nevada.
Nevada Pacific Gold Ltd. was founded in March 1997. The Company owns the operating Magistral Gold Mine in Mexico and an exploration property portfolio covering approximately 75 square miles of mineral rights including portions of two significant gold producing belts in the State of Nevada. The Company's BMX, Keystone and Limousine Butte projects are optioned to Placer Dome. A description of these projects, including maps and photographs can be viewed on the Company's website at: http://www.nevadapacificgold.com.
ON BEHALF OF NEVADA PACIFIC GOLD LTD.
"Richard J. Barclay"
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Shareholder letter-update:
1) Current Abcourt-Barvue and Vendome reserves:
19.3 million ounces silver.
253,000 tons zinc or 557 million pounds.
Abcourt’s market Cap : US$7 million (29M shares X US$0.24)
Value of Abcourt’s silver and zinc : US$480 million
Value of Abcourt’s existing infrastructure US$9.6 million2) In the fall, Abcourt completed a 24 hole drill program. The results
were very encouraging. The lab results have presented Abcourt with an
opportunity to revise the total reserve numbers. Upon Venture Exchange
approval, a revision to the number of silver ounces and total tonnage
of
zinc will be made public by way of news release. I expect a news
release
within a couple of weeks.3) Jason Hommel’s weekly silver report has caused increased interest in
Abcourt. I am fielding e-mails and phone calls on a daily basis. Jason
Hommel is a shareholder which will benefit Abcourt going forward. The
report reflects very positively on Abcourt.
http://www.silverstockreport.c…/silverstockreport56.html
This free weekly report now reaches 13,400 subscribers.update: Gold-Eagle.com, the most popular (1.2 million hits a week)
precious metals site on the internet, just posted a link to Jason
Hommel's
report on their forum. That certainly is a bonus for Abcourt.4) The Prospectors convention will be held in Toronto starting March
6th.
Abcourt does not have a booth but it will still be a busy time for
Renaud
Hinse. Renaud and I have both set-up meetings during the convention
with
various individuals. This should go a long way in getting our story
out.5) Market conditions. It looks like silver may have a small pullback
before the next leg up. This is not a certainty but is a possibility. I
do
not think it will affect the Abcourt share price negatively. There is a
lot of interest in our company and therefore many investors anxious to
buy
any pullback. I‘m hoping our next news release will coincide with the
next
leg up in the price of silver.Here are a few facts for you from Hommel’s website. This might explain
why
silver will eventually make large moves upward. The silver market is
tiny.
Silver and gold are money. To study the potential demand for real
money,
we need to know how much paper money exists that could, one day, show
up
as demand for real money.1,000,000,000,000: 1 Trillion dollars
1,000,000,000: 1 Billion dollars
1,000,000: 1 Million dollars$6,710,000,000: silver bullion left in the entire world at $10/oz
671 mil oz. of "identifiable" according to GFMS$200,000,000,000,000: Estimated total derivative exposure of all banks
in
the entire world. (20 x U.S. GDP)$118,000,000,000,000: World Global Capital Markets (Stocks, Bonds, &?)
Feb
2005 .Do your own due diligence. This update consists of my opinions and
thoughts and does not reflect the opinion or thoughts of Abcourt Mines
Inc.Joe O'Brien
Investor Relations -
Hallo Leute
Vergesst nicht das Zink, daß Abcourt besitzt. Ab 50 cent produzieren sie profitabel.
Zwischen 21 und 25 cent kam es noch zu Insiderkäufen über ein PP was ein ausgezeichnetes Signal ist.
Nach meinen Informationen geht es T.O.M wieder gut und die Finanzierung sollte funktionieren.Kleiner Tip beim Kauf: Zu Eurer Order müsst Ihr einen Zusatz eingeben, daß Ihr entweder die volle Stückzahl der Aktien erhalten möchtet oder nichts. So kommt es zu keinen Teilausführungen. 20000 Aktien sollten problemlos durchgehen.
Grüße, newtechxl
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news von Hommel:
Addional comments: The Avino purchase is taking longer than anticipated. The reason is that Avino is waiting for the approval from the exchange. The Avino purchase agreement was agreed upon months ago, subject to exchange approval. In the meantime, Avino has proceeded with a feasibility study that should more than satisfy the questions from the exchange. And the feasibility study is anticipated in a few weeks, perhaps by the end of March, 2005. The feasibility study should also detail how much money the company should need to raise to put the mine back into production.
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Habe das Gerücht gelesen, dass Barrick an dem Teil interessiert sei !
Kennt sich jemand mit Muskox aus ? Ich habe es nämlich heute zum ersten Mal gehört.
Grüße, newtechxl
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Wer kennt folgenden Explorer ?
AUN.V AUNFF.PK (Aurcana Corp) (I own shares)
http://www.aurcana.com/ -- NEW updated website
kbooth@aurcana.com CEO Ken Booth 604-331-9333
42.7 mil shares fully diluted (Sept 2004)
@ $.06/share Cdn x .81 US/Cdn = $.05 US
$2 mil MC
Cash $650,000 Cdn, no debt
Drilling to commence on high-grade, gold-silver targets. (in Mexico)
6 properties.
Real de Catorce--Historically, more than 220 million ounces of silver was mined from five
million tons of ore on this property, approx. 48 ounces of silver per ton -
Kurze Zusammenfassung:
- Esperanza ist vergleichbar mit Silver Standard, nur mit dem Unterschied, dass sie im early stage Bereich viel stärker engagiert sind.
- Sehr gutes Managementteam
- Silver Standard hat Aktien von Esperanza gekauft!
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Insiderkauf bei 0,40 cent:
Compagnie Sym Initié Poste Date Achat/(Vnte) Prix Solde Note
Esperanza Silver Corporation EPZ Halvorson, Michael Administrateur 24/11/04 125,000 0,40 $ 447,000
