Aluminium
Verena increases 66.7% resource estimate
by Jo Black
Verena Minerals Corporation reports an updated National Instrument 43-101 compliant resource estimate for its wholly owned Volta Grande property located in Para State, Brazil. The mineral resource estimate has been prepared by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA).
Compared to the Company’s December 2005 resource, indicated resources increased by 66.7% to 400,000 [...]
Vangold reports on Uganda properties
by Jo Black
Vangold Resources Ltd. holds 20 Exploration Licences in Uganda through Rwenzori Copper & Nickel Limited, a wholly owned subsidiary. Targeted minerals include gold, nickel – PGM, and copper – cobalt.
Vangold’s history of exploration in Uganda dates from 1994. The Kafunjo, Kilembe, and Fort Portal projects were developed in the following years. Active exploration resumed [...]
NXA announces 2008 exploration programs
by Jo Black
NXA Inc. announces its 2008 exploration program for the Topley-Richfield epithermal gold-silver base metal property, Trail Peak porphyry copper-gold property and Axelgold alkalic gold-uranium property, each of which is located in the Omineca Mining Division of northern British Columbia.
NXA is planning to complete a minimum of 3,000 m of diamond drilling on the Topley-Richfield Property, [...]
Gold touches new record in New York
by Elaine Frei
Precious metals prices were higher on Thursday, with gold touching a record high around $970 per troy ounce as the dollar weakened to a record low against the euro and crude oil rose to a record high in New York.
Also pushing gold higher was speculation that the Federal Reserve will cut interest rates again soon.
After [...]
Gold Fields forecasts substantial drop in South African production
by Gill Montia
Credit Suisse Standard Securities has confirmed that it will maintain an “outperform” rating for Gold Fields’ stocks but has reduced its price target from $21.49 to $18.28 per share.
According to the investment bank, Gold Fields’ South African operations could experience an “opportunity loss” in production that could amount to 3.6 million ounces over the next [...]
Hawthorne Gold yields positive results
by Jo Black
Hawthorne Gold Corp. and Eureka Resources Inc. announces that the assay results from the eleven 200 kilogram bulk samples extracted from underground at the Frasergold Deposit yielded a weighted average grade, using screened metallics, of 1.81 g/t Au.
The results received from the bulk samples are very encouraging and provide a good indication that gold is [...]
Halo Resources provides updates
by Jo Black
Halo Resources Ltd. announces that additional drilling at the Lost Lake deposit, northern Manitoba has demonstrated continuity of the copper-zinc mineralization over a strike length of 500 m with persistent high grades. Grades of 1.6% copper and 4.9% zinc over 5.1 m for hole DH07-55 and mineralized intervals in DH07-56 were previously reported (see press [...]
Magnus updates Lugazi project in Uganda
by Jo Black
Magnus International Resources, Inc. announces that the first phase of its 5,000 meter RC drilling program is complete. The drill program commenced on the 10 February 2008 at the Company’s Lugazi Project located in southern Uganda, and a total of 31 holes for 2,037m were completed along three lines. The maximum depth reached was 81m [...]
Base metals see gains on demand, inflation
by Elaine Frei
Base metals were higher on Wednesday on higher demand in emerging markets, increasing inflation, and a declining US dollar which hit a new low versus the euro during the day.
May copper was 6 cents higher to $3.83 per pound in New York while three-month copper added $125 to $8,400 per tonne in London as London [...]
Cape Lambert signs MOU for Namesake project
by Jo Black
Australian iron ore exploration and development company, Cape Lambert Iron Ore Limited has signed an MoU with Chinese conglomerate, China Metallurgical Group Corporation (MCC), for the sale of the Company’s namesake iron ore project located in the Pilbara region of Western Australia .
Under the terms of the MoU, MCC has secured an exclusive right (until [...]
Lara consolidates Canabrava property position
by Jo Black
Lara Exploration has added to its Canabrava Project along strike from the Palmeiropolis volcanogenic massive sulphide (VMS) deposits in Central Brazil.
Based on regional prospecting conducted in 2007, additional claims have been registered, bringing the total to approximately 28,500 hectares. The property covers strike extensions of the Palmeiropolis Deposit, which is a series of zinc, lead, [...]
Hathor updates on Midwest NorthEast project
by Jo Black
Exploration Limited has encountered anomalous uranium mineralization during its winter 2007/2008 Midwest NorthEast project drill program. The mineralization occurs in hole MWNE-08-12, the 12th hole of a planned 24-hole program.
Natural gamma emission radiation in drill core was measured in counts per second (cps) using an Exploranium GR-110G gamma-ray scintillometer. Drill core from hole MWNE-08-11 intersected [...]
Gold, silver higher on inflation worries
by Elaine Frei
Precious metals prices saw gains on Tuesday.
Gold and silver prices advanced as investors looked for a place to put their money that is safe from the inflation after US producer prices were up in new data from the Labor Department and the Conference Board said that consumer confidence is on the decline.
April gold was $8.80 [...]
Pioneer Nickel reports strong gold progress
by Brian Turner
Pioneer Nickel has provided a positive update for investors on progress with the Silver Swan Northwest Project and Larkinville West Projects the company is currently exploring.
Drilling at the Silver Swan Northwest Project, in which Pioneer Nickel has a 100% interest, has yielded three new gold targets. So far an overall zone of gold anomalism at [...]
Rocky discovers new Vanadium Zinc Zone
by Jo Black
Rocky Mountain Resources Corp. announces the results of a 16 hole exploration drill test (4920 feet) on the Gibellini Project, 24 miles south of Eureka, Nevada. The program was designed to test soil vanadium and zinc anomalies 500 meters south of the known Gibellini vanadium deposit and three nickel vanadium zinc breccia pipes identified on [...]
Sunridge appoints new director
by Jo Black
Sunridge Gold Corp. announces that Mr. Stephen T. Gatley, General Manager, Technical Support and Evaluations for Lundin Mining Corporation, has been appointed to the board of directors of Sunridge, replacing Mr. Richard Clark, who has resigned from the Board. Sunridge would like to thank Mr. Clark for his contributions to the Sunridge Board. Lundin Mining [...]
Nevsun Resources provides Bisha update
by Jo Black
Nevsun Resources Ltd. provides an update to shareholders on its Bisha project. Recent milestones achieved by the Bisha Mining Share Company (BMSC), the Company’s Eritrean subsidiary, include:
- Bisha Mining License Issued, announced January 8, 2008
- Bisha Mining Agreement Signed, announced December 12, 2007
- Agreement for State Participation Signed, announced October 29, 2007
The boards of Nevsun [...]
Great Western Minerals updates activities
by Jo Black
Great Western Minerals Group Ltd. provides an update of its “mine-to-market” strategy to become a fully integrated explorer and developer of rare earth elements (REE’) and other strategic metals in North America.
General Industry Developments: The world demand for REE continues to accelerate. Based on discussions and presentations at the International Rare Earth Conference held in [...]
Cambridge update on Gold Mine projects
by Jo Black
Cambridge Mineral Resources plc, the mining exploration and production company, has signed a civil engineering contract for the construction of the tailings dam and various other necessary earthworks.
Development financing was secured last month for up to three gold mines in Colombia and work has now commenced at Quintana. That work includes the upgrading of access [...]
African Copper provides outstanding growth
by Jo Black
African Copper Plc issues a new schedule for the first five years of production at its Mowana Mine in Botswana. This schedule improves upon the one included in the report entitled “National Instrument 43-101 Technical Report On The Mowana Mine, Botswana” dated 26 November 2007 by Read, Swatman & Voigt (Pty) Ltd.
African Copper management [...]