Beiträge von newtechxl

  • Huldra Silver

    Wer kennt sich mit dem Teil aus ???



    HDA.V (HUSIF pink sheets symbol?) (HULDRA SILVER)
    no website
    Phone: Magnus 1 (604) 261-6040
    6.924 million shares out (fully diluted) (Nov or Dec '03?)
    @ $.305/share Cdn x .74 US/Cdn = US $.23
    $1.6 mil MC
    no debt
    HDA's proven and probable reserves stand at 161,000 tons of
    ore grading an average 25.6 ounces per ton silver, and 10 percent combined
    lead/zinc -- 4.12 mil oz silver, not including the zinc & lead.
    According to Magnus, the indicated and inferred reserves total about 180,000
    tons at about the same grading -- in other words, a further 4 million ounces of
    silver.
    ~8 mil oz. silver
    $1.6 mil MC / 8 mil oz. silver = $.19/oz.
    You get "approx" 31.3 ounces in the ground for 1 oz. silver's worth of stock.


    Additional comments: There is a significant lead/zinc bonus. "The property could be put into production at a capital cost of Cdn $3.5 million -- with payback of capital (when equity financed) within two years."

  • Nevada Pacific Gold Ltd. WKN 929 971 ISIN CA6413981029 NPG

    Nevada Pacific Announces Expansion of BMX Project


    Nevada Pacific Gold Ltd. (TSX Venture Exchange - Symbol NPG) ("the Company") is pleased to announce the signing of binding letters of agreement between Placer Dome U.S. Inc. ("Placer Dome US"), a wholly owned subsidiary of Placer Dome Inc. (NYSE, TSX, ASX; PDG) and Staccato Gold Resources Ltd. (TSX-V CAT) ("Staccato") where under Placer Dome U.S. has an earn in right to Staccato's Long Peak property and will include it in the joint venture agreement between Placer Dome US and Nevada Pacific. The Long Peak property completes the area of interest identified by Nevada Pacific and Placer Dome US along the southern edge of the BMX property. Subsequent to the signing of the binding letters of agreement the Long Peak property will fall under the BMX property joint venture agreement between Nevada Pacific and Placer Dome US. The inclusion of the Long Peak project further strengthens the exploration potential of the BMX project.


    The Long Peak property is located on the southern edge of the BMX land package. The property consists of 34 unpatented mining claims covering 680 acres. The BMX and Long Peak project area shows potential to host a gold/copper skarn system or a disseminated gold system. Both open pit and underground potential exists in the project area. Several gold targets, similar to nearby mines such as Lone Tree, Marigold, Fortitude, Phoenix, Surprise and/or Trenton Canyon, potentially exist within the project area.


    Historical drilling in the Bluebird/Long Peak area resulted in the northern most drill hole (DEW98-07) containing 10' of 0.135 opt gold from 25' to 35' and the southern most drill hole (DDH-1), located 5000 feet south of DEW98-07, containing 3.5' of 0.767 opt gold, 32.5 opt silver, 0.83% Pb and 0.55% Zn from 910' to 913.5'. Three other holes also reported significant mineralization as follows: 50 feet of 0.147 opt gold; 50 feet of 0.058 opt gold; and 10 feet of 0.057 opt gold and 3.35 opt silver.


    The Long Peak property is situated on the northwest lobe of a broad magnetic anomaly produced by the Buckingham and Long Peak intrusive. A more intense, smaller magnetic anomaly flanks the southwest side of the stock. This anomaly is aligned northwest-southeast, approximately one mile long and 2500 feet wide. It is similar in intensity to the magnetic feature that outlines the gold-rich Fortitude skarn five miles to the south, which has produced more than 2 million ounces of gold and is part of a system containing more than 10 million ounces. Precious metal mineralization is associated with north-south, northwest and northeast structures in the Harmony Formation and along the margins of the intrusive.


    Mr. Curt Everson, P.Geol., 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 under agreement to Placer Dome US. 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"



    Richard J. Barclay
    CEO and Director

  • Abcourt Mines Inc./ ABI (CVE)

    Termine :


    zwischen 6 und 9 März wird Abcourt an verschiedenen Präsentationen in Toronto teilnehmen.


    In etwa zwei Wochen kommt ein Press Release, der die Resourcenzahl
    des Abcourt-Barvue Properties erhöhen wird.


    newtechxl

  • Siber ETF?

    Barclays Global Investors announced on February 2nd that a silver ETF is in the works. Silver industry sources familiar with Barclays' ETF projects said on Wednesday that the company hopes to come out with a silver-backed fund this year. Barclays has started to analyze the silver market in preparation for developing an ETF, though it still appeared to be in the early stages.

  • Sterling Mining Company

    [+] Increase Font [-] Decrease Font
    PUBLIC ACCESS ARTICLE -
    Sterling Mining controversy...
    02/07/05



    Some subscribers may be aware that I came under attack at the weekend in an article by David Bond on a couple of websites for a remark I made about a possible reason for the acute weakness in the stock of Sterling Mining, in my recent article about Yamana Gold.
    I won’t burden you with the entire article, but here are a some excerpts, just to give those of you who haven’t seen it the "flavour" of it, so to speak…



    "Sterling Mining Co. got screwed this month and last by blowhard ignorance and reporting more shoddy than the Times v. Sullivan decision would allow, and I am here to tell you how it happened.
    I’ve heard these bullshit analysts bellow from the pulpits in Toronto, Denver, New York, London, Moscow, Beijing and all the rotten little rues in between. And I even believed them, a time or two.
    I would not accuse Clive Maund of being dishonest. Not my thing to impugn motive. But I can accuse him of being one sloppy sonofabitch, and probably flirting with Times v. Sullivan.
    And you can thank Clive if you want to know why Sterling Mining Company went into the tank last month, from $7 to $3-something.
    This sort of journalism is beneath contempt. I hired some crappy reporters in my time at newspapers whose newsrooms I have run on both coasts, but no zit-covered tyro ever tried to feed me a story a little bird told him.
    You never called anybody at Sterling, Sunshine or Bunker Hill to “guarantee the veracity of this information,” did you? By every journalistic standard I hew to, by every principle I believe in, you flunk. Not just as a stock analyst. Not even as a tyro reporter.
    You don’t spread lies you are too lazy to “guarantee the veracity” of. Not if you’re a man. Not when it’s as easy as a telephone call to check your facts, dude. You charge your readers several large a year to log on to your site. Insofar as you are not a responsible reporter, what are you? A huckster with a position? I cannot believe people pay for such treacle.
    It’s time the market learned about you and the whole lot of you.“
    And you can listen to my “little bird”: a big-assed green Amazon parrot named Buzzard, who sucks the marrow out of chicken bones and eschews liars. Until you do, Clive, leave my friends at the Sunshine alone or I will take this issue to print."



    I think that‘s enough to give you an accurate idea of the tone of this article, and for subscribers to understand why I am not concerned by it. The reason I am bringing it up is to highlight an important point about the effectiveness of Technical Analysis at a time when the fundamentals may be impossible to ascertain accurately. You will have read the sentence above where I am held responsible for the price of Sterling Mining stock tanking, which I have highlighted in bold. Actually I find this accusation rather flattering, for it implies that, while the subscribers to my website may be modest in number, you have the financial clout to crater a stock on my say so.


    I issued a clear warning to switch out of Sterling Mining stock on 27th October because it looked like it was about to fail at important support at the $6 level, an event which would be expected to lead to a steep drop - and such proved to be the case. This prognosis was based purely on Technical Analysis, I had no idea how much water was lurking at the bottom of the Sunshine Mine. This may be important to the folks in Wallace, Idaho, but frankly I don‘t care how much water is in the Sunshine Mine, or about the state of the joists holding the roof up. What I care about is the trend of the stock prices, and I make the reasonable assumption that that is the prime concern of my subscribers. This was an occasion where Technical Analysis won out, the interpretation was correct, we did not "have to know the reason why" Sterling was set to tumble, it was enough to know that it probably would. I do not advise my readers to sell a stock because I "hate the company" or "want to see it fail" or because someone has "paid me to do a hatchet job on it". I advise my readers to sell a stock either to take a profit or to avoid or stem a loss, based on a purely objective assessment of it. If there are people out there who cannot or will not grasp this reality, as that attack on me demonstrates is the case, that‘s not our problem.

  • Sterling Mining Company

    Sterling Mining


    By: Jason Hommel, GoldIsMoney.com





    The stock of Sterling Mining (SRLM--pink sheets) has been a big winner
    in 2003, moving up from a base of about 50 cents a share in the summer,
    to hitting a high of $10 share by November. That's up by a factor of
    20! A twenty-bagger! In about 6 months! Today, at $7.25/share, they
    have just under 10 million shares, with a market cap of about $75 million.


    So, why did the shares move up so much? Is it too late to buy? Is the
    moved played out? Are the shares tired? Has a top come in? Is the
    momentum lost? Will the shares now trade in a range? Those are the
    questions that befuddle the technical investors. I don't concern myself
    with such things, and this article will not address any of those
    questions. I look only at value, the fundamentals. I ask, "What do you
    get?" and "What are you paying?"


    The fundamental story is that Sterling Mining acquired the rights to the
    Sunshine mine, and continues to acquire more silver properties in the
    Cour d'Alene silver valley, in Idaho, U.S.A.


    The Sunshine Mining company went bankrupt due to their debt burden, and
    perpetually low silver prices. This is what creates the opportunity for
    silver investors today. Sterling Mining bought the property because
    they were willing to offer cash, while other major mining companies
    wanted to spend too much time doing their due diligence.


    In the real world of real and limited assets, it's "first come, first
    served". That's the rule whether applied to buying silver bullion, or
    buying land rights, or participation in private placement
    opportunities. Whoever shows up with the cash first gets to buy it.


    Now, when Sterling Mining leased the Sunshine property, I didn't know
    the Sunshine mine from a hole in the ground. I was fortunate enough to
    own a little stock of Sterling back at 61 cents/share. My initial
    decision to buy Sterling Mining stock was based on seeing a banner ad at
    David Morgan's web site, silver-investor.com, and by reading about
    management's philosophy of acquiring silver properties at low prices
    while silver is still cheap. I, myself, due to my ignorance, wondered
    whether it was too late to buy more after the stock had moved to 83
    cents after they announcement of the acquisition of the Sunshine mine.
    And, I kicked myself for not buying any at 50 cents/share. In the end,
    I had to force myself to ignore my jealousy of other people's good
    fortune (those who bought before me), and I had to buy the stock on the
    merits of the situation at the time. And so, I bought more at 90 cents,
    and more at $1.10. Again, I bought at $2.40, and again I bought at
    $3.60. The more I learn about the Sunshine Mine, the more I keep
    buying. It was difficult to buy into a rapidly rising market, and each
    decision was a new decision. But obviously, those were the right
    decisions. I bought, knowing little more than the "silver resource"
    totals listed for the Sunshine, which are 185 million oz. of silver. I
    divided the current market cap by those silver ounces, to get a "cost
    per oz. in the ground." I could hardly believe the math and good
    opportunity, but I realized it was a good value. But the more I learn,
    the more I realize the great value of Sterling Mining.


    The Sunshine Mine produced 360 million ounces of silver over 100 years
    of fairly continuous production.


    In 1993, the Sunshine Mining Company, with 200 million shares, and $100
    million in debt, and with the price of silver ranging between $3.70 and
    $5.30/oz., had a market cap of $500 million dollars!


    In contrast, Sterling Mining now owns a 15-year operating lease on the
    Sunshine mine with option to buy it outright by paying $5 million more,
    which they can choose to exercise at any time, no rush. And Sterling
    Mining has no debt. At $6.55/share, with just under 10 million shares
    fully diluted as of December, 2003, Sterling Mining has a market cap of
    about $75 million. I believe they will have no trouble raising the $5
    million (with little dilution) to exercise the option to buy the mine.

    So, does significant upside potential remain? Is $75 million less than
    $500 million? You bet!


    But look at the other advantages of Sterling Mining: Very low
    overhead. Better land position. Sterling continues to acquire property
    in the silver valley.


    And the silver bullion market is in a much better position, with a
    higher price, with 13 years of deficits, a smaller silver supply, and
    investors are waking up to the silver story now with the availability of
    information on the internet. Investors are also waking up to the
    monetary fraud of the overvalued paper dollar, as gold continues its
    third year of a bull market.


    Sterling Mining also owns ten square miles of land around the Sunshine
    mine. Of those 10 sq. miles, only 1/4 mile was ever properly explored
    by Sunshine. Sterling mining has begun a surface exploration program
    around the mine using modern exploration techniques to rectify the
    situation.


    This brings me to the Cour d'Alene Silver Valley. This valley produced
    1.1 Billion ounces of silver historically. There were basically three
    big mines, Hecla, Cour d'Alene, and the Sunshine. In December, 2003,
    Hecla has a market cap of about $850 million and Cour d'Alene has a
    market cap in excess of one Billion dollars! The Sunshine mine is a lot
    like the other two mines, in that it has been in continuous operation
    for about 100 years, and they never really needed to do any significant
    exploring, they just followed the silver into the earth. Therefore, all
    three of these mines have traded at a significant premium to the stated
    "resources and reserves," because they all have a strong history of
    proving up and adding to their reserves as they mine.


    So, I was wrong to buy Sterling Mining only for the "reserves and
    resources" of the Sunshine, because like Hecla and Cour d'Alene Mining,
    there is likely to exist much more silver in the Sunshine mine than the
    published resource figures show. The Silver Valley is unique in that
    the silver is not all close to the surface, but goes deep.


    The Sunshine mine was producing silver at a profit as recently as 2000,
    with cash costs around $4-$4.50/oz. So, unlike a lot of silver
    explorers, Sterling Mining has an existing mine, with existing
    infrastructure. Other companies often have capital costs in excess of
    $100 million dollars to get a mine going.


    Right now, Sterling Mining is listed on the pink sheets. (SRLM) They
    don't have a listing on the major exchanges, and they don't have a
    bulletin board listing either. Why not? Those cost money. Right now,
    management is still focused on spending their money on land acquisitions
    and consolidating their position within the silver valley. There is a
    silver rush going on! And I think management is pursuing the right
    strategy. I see no reason to rush for an Amex listing and become a
    fully reporting company at this time. The assets of this company are
    not in the financial balance sheet, but rather, in the ounces of silver
    in the ground that they are rapidly buying. They are in the process of
    acquiring land all around the Sunshine, and making their property
    contiguous, buying properties that are adjacent, or next door. I think
    it matters very little whether they had $1 million or $1.1 million cash
    in the till in the last quarter. (Ray Demotte, president, says they
    have about $1.1 million cash now, in December, 2003.)


    Nevertheless, Sterling Mining is committed to moving up to another
    exchange by next year, and also they will be slowly increasing their
    marketing efforts. However, their priority will continue to be to
    acquire cheap silver prospects, resources and reserves.


    The company has not even yet spent money on booths at the gold shows.
    Personally, I think spending money on marketing is well worth it. The
    better they tell investors their story, the more money they will receive
    when they issue shares, and the better deal they will get for existing
    shareholders. As a shareholder, this is my motivation for writing about
    the company.


    Sterling Mining has other good silver properties in addition to the
    Sunshine Mine. All total, they have perhaps up to 500 million oz. of
    silver "exploration potential" that they might have within all their
    various properties in the silver valley.

    So, how cheap is the "silver in the ground" that you are buying when you
    buy Sterling Mining stock? At just under 10 million shares, at
    $7.25/share, with a market cap of $75 million divided by up to 500
    million, that's 15 cents/oz. of silver in the ground. I like to
    calculate things in terms of silver to silver, so I divide the market
    cap by the silver price, and I get a market cap denominated in silver,
    which is $75 million / $5.76/oz. = 13 mil oz. of silver market cap.
    Then, I divide the oz. in the ground, or 185 million or 500 million
    (exploration potential) oz., by the 13 million oz. market cap. This
    gives a range of 14.2 to 38 oz. of silver in the ground that you get
    when you spend the equivalent of one oz. of silver (or each $5.76 that
    you spend) on Sterling Mining stock at $7.25/share.


    Ray Demotte, president of Sterling Mining, looks at it in a similar
    way. He says that with the 185 million oz. of silver in the Sunshine,
    and with just under 10 million shares, that's 19 oz. of silver per
    share. So, to keep that figure constant or rising, he figures that with
    every share he issues to raise capital for expenses, he'd better buy up
    to (or explore and find) 19 more oz. of silver in the ground, or more,
    to keep growing the silver resources for his shareholders. That's the
    kind of management perspective I love. He is keeping dilution to a
    minimum, while growing the company by acquiring silver assets.


    Ray Demotte says that a lot of his existing shareholders are continuing
    to buy stock. They tell him that they are "tired of holding paper
    money." I believe we are witnessing the beginning of monetary demand
    for silver, as investors pour money into silver stocks first.


    Monetary demand for gold and silver will cause silver prices to explode
    beyond belief.


    Just look at the amount of dollars out there that could buy gold. $20
    trillion in bonds plus $9 trillion in M3 = $29 Trillion. A mere 1% of
    that is $290 Billion, which, at $400/oz., is a massive demand of 22,549
    tonnes of gold. Yet annual gold demand is a mere 4000 tonnes, which
    exceeds the 2600 tonne mine supply. Do you understand what those
    figures mean? That means that far, far less than 1% of dollars, in
    either bonds or M3 can buy gold, because there simply is not nearly that
    much gold available. And how much silver is available for monetary
    demand? Nothing, because we have deficits. But there is 62 million oz.
    of silver registered for delivery at the COMEX, which, at $6/oz, is
    worth $372 million dollars. So, if about 1/10th of 1% of 1% of paper
    money tries to buy that silver, it will be gone.


    Therefore, long before 1% of U.S. paper dollars tries to buy gold, such
    buying power will force the price of gold to head up well over
    $1000/oz., and silver up over $50/oz. !!!


    Some people think they can capitalize on that inevitable gain by buying
    paper futures contracts. But I believe paper futures contracts will
    default, since they promise to deliver more silver than I think exists
    in deliverable form. Therefore, I believe the best ways to profit from
    the inevitable trend is to buy physical silver bullion, and buy silver
    stocks which have plenty of silver in the ground for what you are
    paying, such as Sterling Mining.


    I publish a free weekly silver stock report on 90 silver stocks. To
    receive an email notice of when and where it is published, please sign
    up at goldismoney.com


    Disclaimer: I own shares of SRLM.PK. I have not been paid by the
    company to write this article. GoldSeek.com does not own shares in SRLM.PK


    - no payment received to publish this article.

  • Sterling Mining Company

    Das schreibt Hommel dazu:


    SRLM.PK (STERLING MINING)
    http://www.sterlingmining.com/
    RDemotte@aol.com Ray DeMotte 208 666 4070
    12.2 mil shares outstanding (May 31, 2004)
    16.6 mil shares fully diluted (May 2004) --(To get the latest number, I have to call Ray DeMotte. Note the date.)
    @ $6.35/share
    $105 mil MC
    ~185 mil oz. reserves + resource, Sunshine alone
    Quote from: http://www.sterlingmining.com/jun112003.html
    "The prior operator last estimated the mine reserves at 26.75 million ounces of silver, 10.36 million pounds of copper and 7.05 million pounds of lead (or approximately 28.85 million ounces of silver-equivalent), as well as an additional resource of 159.66 million ounces of silver. "
    Other properties:
    Baroness 15 mil -- tailing project, no further exploration potential, (construction finished, testing beginning)
    Tesorito 17 mil -- + exploration potential
    San Acacio 14 mil -- + exploration potential
    Total: 231 mil oz. silver
    $105 mil MC / 231 mil oz. = $.46/oz.
    $105 mil MC / 550 mil oz. = $.19/oz. (exploration potential)
    You get "approx" 15.5 ounces in the ground for 1 oz. silver's worth of stock.
    (Exploration potential is 37.)


    Additional comments: Sterling Mining continues to acquire and lease good silver properties.
    Timberline to Lease Montana Properties to Sterling Mining


    I wrote an article on SRLM in late Dec. 2003. See: Sterling Mining (But I no longer own shares.)


    Ray DeMotte really, really understands the silver story, and has been aggressively acquiring silver properties. Sterling continues to consolidate its land position around the Sunshine mine.


    Sterling Mining acquired the Sunshine mine. Sunshine had "more than 360 million ounces of production over the past century" and was one of the big three: Hecla, Couer, & Sunshine. Sunshine went bankrupt. Sterling got the property a few months ago cheap, because they were quick & willing to pay cash. Other buyers wanted to do a full study before making an offer.
    The best factors, I feel, are as follows:
    1. The Sunshine mine is an existing mine that was mining at a profit. The company went bankrupt, not the mine. So there will be no great capital costs for start up, only minimal costs.
    2. The Sunshine sits on 1/2 sq. mile, and was never fully explored. Sterling Mining owns 10 square miles of property surrounding the Sunshine, right in the heart of silver country, the location of CDE and HL, the other two big companies at the top of this list.
    3. The management of Sunshine understands the silver story. They are on a mission to acquire distressed silver properties at today's cheap prices. See also: December 14, 2003: "In light of the continued low silver price, Sterling has this year begun holding back into inventory a portion of this year's silver coins minted."


    For more detailed information on what's happening in the Silver Valley in Idaho, see the following link:
    http://www.blanketpower.com/mining/titlepage.htm

  • Eskay Mining Corp./ ESK (TSXV)

    Kenrich-Eskay Mining Corp (C-KRE) - News Release
    Kenrich-Eskay receives geological report on Corey
    2005-02-04 12:51 ET - News Release
    Shares issued 28,475,354
    KRE Close 2005-02-03 C$ 0.72


    Mr. Wally Boguski reports


    COREY PROPERTY, ESKAY MINING CAMP 2004 REPORT SHOWS EXCEPTIONAL ESKAY-TYPE DRILL TARGETS


    Kenrich-Eskay Mining Corp. has received its 2004 progress report from its independent geological consultants on the Corey property, located in the Eskay Creek mining camp in northwestern British Columbia, Canada.


    The company's geologists report that the Eskay rift is a north-south-trending structural feature that localized the gold-silver-rich vein and massive sulphide deposits at Barrick Gold's Eskay Creek mine, situated 10 kilometres north of the Corey. Regional-scale folding and later faulting obscured the southward continuation of the Eskay rift. Company researchers developed a robust regional exploration "signature" for Eskay-type deposits from geological, lithogeochemical and stream geochemical data. To augment its research, the company also joined the Eskay/Hazelton research project of the mineral deposit research unit (MDRU) at the University of British Columbia. The combined expertise refined the signature, and was employed to aggressively explore the prospective horizons on the Corey for Eskay-type massive sulphide deposits.


    Previously announced by the company was the 2004 discovery in outcrop of the Smitty and Angela Creek massive sulphides within a very favourable Eskay-rift geological succession. The Cumberland and the HSOV zones are confirmed as genuine massive sulphide showings. The geology, lithogeochemistry and stream sediment geochemistry map a band of first-priority targets for Eskay-type massive sulphides on the Corey, encompassing over 15 kilometres of surface trace. Within those trends are zones of Salmon River formation mudstones that are enclosed by felsic volcanics and basalt, delineating areas requiring special attention. These results demonstrate that mineralized mudstones, massive sulphides, and altered and veined footwall rocks analogous to the Eskay deposit occur in several zones on the Corey property, in areas that are yet to be assessed in detail or diamond drilled.


    Confidence in the exceptional potential of the Eskay rift on the Corey property is strongly boosted by the following reported results.


    * The Eskay rift at Corey is subaqueous, and contains many horizons of base and precious metal anomalous Eskay mudstones.
    * The rift succession at Corey is reported to contain a complete range of felsic of mafic composition volcanic rocks that accumulated over a greater time period and a greater thickness than Eskay creek.
    * Pb isotope analyses by independent researchers at the MDRU have clearly demonstrated that the massive sulphide mineralization at both the Smitty and Cumberland showings are of Jurassic age on a plot of 206 Pb/204Pb versus 207Pb/204Pb and the Smitty mineralization lies well within the age range of the Eskay Creek deposit.


    The Cumberland and the Smitty are the only known volcanogenic massive sulphide showings outside of the Eskay Creek property to have the characteristics of Eskay volcanogenic massive sulphide deposits. Importantly, these occurrences are on surface rock exposures. Drilling promises to extend these showings and to test their hosting mudstones along strike, where five kilometres of strong multielement geochemical anomalies (Ag-Au-Cu-Zn-Pb-As-Sb) extend south-eastward along the strike of a sequence of Eskay-equivalent mudstones, basalts and felsic volcanic rocks. These numerous geochemical anomalies suggest additional buried targets for Eskay-type massive sulphides.


    Further to the news release in Stockwatch of Jan. 7, 2005, the company's private placement is proceeding and expected to close shortly.


    The geological information herein has been reviewed and approved by Paul J. McGuigan, PGeo, who is the company's qualified person.

  • Abcourt Mines Inc./ ABI (CVE)

    Mill betreffend :


    I spoke with Renaud Hinse this morning.
    The Novicourt mill is not available to Abcourt. Novicourt had indicated in the spring of 2004 that it could custom mill 80,000 tons of Abcourt ore for a test. Novicourt has now decided to shut down its mill and possibly dismantle and move it to another location. Following this change of plan, Abcourt is considering other alternatives.
    Mr. Hinse stated that there are 3 other mills in the area that may be used and he is looking into it. The bottom line is this, if the price of silver and zinc breaks higher, Abcourt can and will react. Abcourt could go into production on fairly short notice if warranted.
    In 1999, Abcourt spent $192,000 on a feasibility study which was based on building a mill on the Abcourt-Barvue property. This has always been Abcourt's intention. The study proved that Abcourt would be very profitable from day 1 and that all loans would be paid back in fairly short order. The feasibility study was based on $7 silver, $0.53 zinc, a rate of exchange of 1.5 and 30% equity 70% loan financing. Therefore if push comes to shove Abcourt could transport its ore to another mill initially while maintaining the plan of building a mill on site. Abcourt remains flexible.
    I hope this covers the mill issue for now. There is no doubt that if silver breaks higher, Abcourt will reopen its mine rapidly.
    Position

  • Plexmar Resources Inc. WKN 867 458 ISIN CA7289021072 PLE

    Plexmar releases sampling results from Bolsa del Diablo


    2005-02-01 10:19 ET - News Release



    Mr. Guy Bedard reports


    PLEXMAR RESOURCES INC.: MORE HIGH GRADE RESULTS ON BOLSA DEL DIABLO GOLD PROPERTY


    Plexmar Resources Inc. has received the results of recent sampling on its Bolsa del Diablo property in the department of Piura, Peru. All samples returned good values of gold.


    A table of the results is available at http://www2.ccnmatthews.com/database/fax/2000/pltab.pdf.


    These results confirm that the mineralized system contains high-grade gold over a large area (three kilometres by 1.3 kilometres). The system remains open in all directions.


    The highest grade (110 grams per tonne gold) was obtained in outcropping veins ranging from three centimetres to 20 centimetres in width and the lowest grades (0.026 gram to 0.078 gram per tonne gold) were taken in heavily altered rock while trying to characterize the limits of the alteration halo.


    All the other samples were taken in or near the areas where informal miners are working. Some dumps were sampled and channel sampling was carried out in the exposed trenches.


    An alteration system of significant size (a minimum of four square kilometres) has been identified within the property. All samples collected so far are anomalous in gold with values ranging from 14 parts per billion to 119.5 grams per tonne gold. Preliminary observations suggest the presence of a large-scale epithermal system with characteristics typical of a high-sulphidation system (Newmont's Yanacocha and Barrick's Pierina).


    Plexmar's management is very encouraged by these results. The company's geologists have spent only a few days sampling and prospecting and all of the samples contain anomalous values of gold. Also, the informal miners have been working the area for only the last six months and their current workings were selected in a totally random fashion.


    All of the volcanic rocks in the area of interest show pervasive argillic alteration and have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock. This intense stockwork was observed in numerous places throughout the property.


    Plexmar has under control a 4,000-hectare (40-square-kilometre) position within the area and has signed a letter of intent to acquire a further 800 hectares.


    A National Instrument 43-101 report is currently being written and will be made available as soon as it becomes available.


    M. Martin St-Pierre is the designated qualified person under National Instrument 43-101 standards and is supervising the sampling program. All samples were analyzed by ALS Chemex in Lima.


    A map of the Bosla del Diablo property is available at http://www2.ccnmatthews.com/database/fax/2000/diab0201.pdf.