Aluminium
IAMGOLD advances pre-feasibility at Quimsacocha
by Jo Black
IAMGOLD Corporation announces drill results from its wholly owned Quimsacocha project in southwest Ecuador. These results are part of the US$5.7 million exploration and development program carried out throughout 2007, and comprise part of the work required for the completion of pre-feasibility study expected in June 2008.
Results continue to highlight the strong gold, silver [...]
Bravo Venture updates Woewodski program
by Jo Black
Bravo Venture Group Inc. has acquired 100% interest in the Woewodski Island VMS project in southeast Alaska following successful re-negotiation of certain terms in an underlying agreement with the vendors of the property. The company also reported results of the company’s 2007 exploration program.
Bravo’s ownership is subject to a 3% NSR royalty on all metals, [...]
ECU Silver new discovery near Terneras Vein
by Jo Black
ECU Silver Mining announces the discovery of a new vein yielding an average of 29 g/t Au, 808 g/t Ag, 10% Pb and 0.6% Zn over a width of 0.48 metres (1.57 feet). The Company has also encountered a new zone with disseminated type mineralization. Both of these new discoveries are located approximately 20 to [...]
Tara Gold updates San Miguel project
by Jo Black
Tara Gold Resources Corp. announces assay results from two additional drill holes in the San Miguel Zone of its San Miguel project in the Guazapares Mining District, Mexico. Drill hole SM-19 was drilled at the southern end of the drill pattern, and SM-20 was drilled below moderately well mineralized SM-08 and SM-09, designed to test [...]
Gold at new high as platinum drops over $100 per ounce
by Elaine Frei
Precious metals prices were mixed Monday as gold held on to some gains after soaring to a record high but platinum dropped more than $100 per troy ounce on easing supply concerns.
April gold was up $3.10 to $1,002.60 per troy ounce in New York after going as high as $1,033.90, a new record, on the [...]
Rio optimistic on demand for metals
by Gill Montia
In its 2007 report, Rio Tinto is forecasting that demand for metals will remain strong despite the threat of a recession in the US.
The world’s biggest aluminium producer is mindful of the expected slowdown in the US economy but says that predictions that the price cycle for its products have peaked are premature.
The group’s chairman, [...]
Cusac Gold to merger with Hawthorne Gold
by Jo Black
Hawthorne Gold Corp. and Cusac Gold Mines Ltd. announce the approval by Cusac shareholders and debentureholders of the statutory plan of arrangement pursuant to which, among other things, Hawthorne will acquire all of the outstanding common shares and debentures of Cusac. At a meeting held today, Cusac Shareholders and Debentureholders voted in favour of [...]
Genco invest in two silver-gold mines
by Jo Black
Genco Resources Ltd., has made a strategic investment in the ownership of two formerly producing silver-gold mines, Burgin Mine and Trixie Mine, and a concentrator plant, in Utah owned by Chief Consolidated Mining Company.
Brian Mountford, P. Eng., a director of Andover Ventures Inc. and an independent mining consultant, has been involved in the assessment of [...]
Fortune updates Incahuasi Este Scout drilling
by Jo Black
Fortune Valley Resources Inc. announces the remaining results of its 2007 drilling campaign on the Incahuasi project located in Region 3 in northern Chile.
A preliminary 12-hole reverse circulation scout drilling program on the extensive 100 km2 Incahuasi Este area tested some of the known veins with wide spaced or individual drill holes to gain better [...]
Gold touches $1,009 per troy ounce
by Elaine Frei
Precious metals prices were mixed on Friday as gold rose to a new record high on the Bear Stearns (NYSE: BSC) bailout, needed because its liquidity position has “significantly deteriorated”, according to its CEO, on another decline in the US dollar versus the euro and the yen, and on the prospect that US interest rates [...]
Castle increases private placement units
by Jo Black
Castle Resources Inc. has increased its previously announced flow-through placement of 3,750,000 Flow-Through Units of Castle to 4,857,143 Flow-Through Units at $0.35 per Flow-Through Unit.
Each Flow-Through Unit consists of one common share to be issued on a “flow-through” basis under the Income Tax Act (Canada) and one half of one common share purchase warrant of [...]
Imperial extends Sterling property
by Jo Black
Imperial Metals Corporation reports underground drilling at Sterling has confirmed the presence of significant gold mineralization east of the latite dike that previously defined the eastern boundary of the 144 Zone. Hole SU08-16, drilled east of the dike to the north of the decline, returned 0.30 ounces per ton (10.28 g/t) gold over 15 feet, [...]
Atlas provides drill result at Tres Chorreras
by Jo Black
Atlas Minerals Inc. announces results from drill holes #5 to #9 (08-20 to 08-24) of the current phase 1 drilling program on the Breccia (3C) prospect at the Company’s Tres Chorreras concession (100% interest), located in the Azuay Province, southern Ecuador.
All drill holes intersected significant mineralization. Drill holes 5 to 8 were angle holes and [...]
Gold peaks above $1,000 per troy ounce
by Elaine Frei
Precious metals prices were higher on Thursday after the dollar declined yet again and after crude oil prices peaked at $111 per barrel before retreating slightly.
April gold added $13.30 to $993.80 per troy ounce after rising to $1,001.50 per troy ounce earlier in the session.
Some analysts expect that the price of gold, which has risen [...]
Gold Book predicts volatile year ahead
by Gill Montia
CPM Group, the US mining consulting firm, has published its “Gold Year Book 2008″.
The report presents an overview of gold supply and demand, and global market mechanics. It is used by gold mining companies, investors, central banks and governments.
The Year Book predicts a volatile time ahead for the gold price stating: “Investors are buying gold [...]
Gold Resources increase at Bjorkdal Mine, Sweden
by Jo Black
Gold-Ore Resources Ltd. announces receipt of a new resource estimation for the Company’s 100% owned Bjorkdal Gold Mine. The independent NI 43-101 compliant resource estimation was completed by Wardell Armstrong International Ltd. (WAI) of Cornwall, UK.
Bjorkdal currently produces gold from material sourced from underground (800 tonnes/day), open pit (1,300 tonnes/day) and surface stockpiles (1,200 tonnes/day). [...]
SNS Silver hires SRK consulting
by Jo Black
SNS Silver Corporation has engaged SRK Consulting (US), Inc. to provide an independent qualified person to develop a resource estimate compliant with National Instrument 43-101 for the discoveries made last summer at the Company’s exploration project located at the historic Crescent Mine.
SRK is an internationally recognized independent consulting firm focused on all aspects of mine [...]
Minco Gold estimate for Changkeng Gold Project
by Jo Black
Minco Gold Corporation reports the results of an initial resource estimate for the Changkeng Gold Project in Guangdong Province, China. The estimate contains an indicated resource of 2.1 million tonnes @ 5.61 g/t gold (Au) for a total of 379,000 oz Au and an inferred resource of 2.2 million tonnes @ 4.82 g/t Au for [...]
Metals prices up on falling dollar, rising crude
by Elaine Frei
Precious metals prices were higher in New York on Wednesday as the dollar fell to yet another record low versus the euro after analysts came to the conclusion that the program introduced by the Federal Reserve yesterday to put up to $200 billion into the monetary system will not solve the US economy’s problems.
April gold [...]
Hana Mining announces $2.5M private placement
by Jo Black
Hana Mining Ltd. has arranged a non-brokered private placement of up to $2,500,000.
The non-brokered private placement consists of up to 7,142,857 units (the “Units”) at a price of $0.35 per Unit. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant will entitle the [...]