Aluminium
Probe Mines completes airborne geophysical survey
by Jo Black
The Directors of Probe Mines Limited announces that an AeroTEM III helicopter-borne magnetic/electromagnetic survey has been completed on the Company’s 100%-owned Victory Property, located less than 30 kilometres to the east of the Eagle One nickel-copper-PGE discovery in the McFauld’s Lake area.
The AeroTEM survey was flown in order to bring numerous conductors identified in [...]
Griffin to acquire Yukon Zinc Corporation
by Jo Black
Yukon Zinc Corporation and Griffin Mining Limited have signed an Agreement whereby Griffin will acquire all of the issued shares of Yukon Zinc through a court-approved plan of arrangement. The shares of Griffin are traded on the Alternative Investment Market of the London Stock Exchange.
Under the terms of the transaction the shareholders of Yukon Zinc [...]
Soltera’s Geochemical results from Real de Cananea
by Jo Black
Soltera Mining Corp. has completed its first phase of geochemical surveying on the Real de Cananea property in Mexico.
The property consists of three mining claims totaling 1,030 hectares located in the north east of Sonora State, Mexico, approximately 40 km from the Arizona (USA) border. They are on the line of a major NNW-SSE structure [...]
Adroit agreed private placement for $1,002,792.50
by Jo Black
Adroit Resources Inc.announces that, subject to TSX Venture Exchange acceptance, the Company has received agreements for a total of C$1,002,792.50 for 5,013,962 units of one share and one whole warrant by way of private placement in Europe, organised by the Company.
Each whole warrant will be for three years, transferable, and entitle the holder to [...]
Kalimantan signs option agreement on five coal concessions
by Jo Black
Kalimantan Gold Corporation Limited has signed an Option Agreement to acquire a 75% stake in five coal concessions in Indonesia, a move designed to establish a presence for the company in Indonesia’s rapidly growing coal industry.
Pursuant to the Option Agreement, KGC will have exclusivity for a six month period in which to conduct its [...]
Mustang tests chromite horizon at Maskwa property
by Jo Black
Mustang Minerals Corp., announced initial drill results from a new exploration horizon on the Maskwa Property. Elevated nickel-pgm-cobalt values were found in the Chromite horizon. Follow up holes have now been drilled.
Also, preliminary results from a Geotech VTEM survey at the nearby Fox and Aileen exploration properties have identified significant new exploration targets there. [...]
Northern provides results from Burro Creek Gold/Silver property
by Jo Black
Northern Freegold Resources Ltd. announces results from an additional five drill holes at the Burro Creek Gold/Silver Property located in northwestern Arizona, U.S.A. The main focus of the drill program is to confirm and update historical results on an open pit type epithermal gold/silver mineralized zone on the property and to drill test areas on [...]
BHP reports fall in copper, nickel and aluminium output
by Gill Montia
BHP Billiton, the world’s largest miner, has reported a drop in copper production for the third quarter of 2007. Output of the metal fell by 8% year-on-year, to 328,900 tonnes.
The group attributed the decline to lower grades at its Escondida mine in Chile and disruption of production at its Olympic Dam mine in South Australia. [...]
Ecuador revokes 80% of mining concessions
by Gill Montia
Ecuador has suspended mining exploration activities and revoked a large number of concessions while it prepares new mining legislation.
The country’s government, headed by President Rafael Correa, says it has taken the dramatic action to secure greater control of Ecuador’s natural resources and increase the amount of profit the mining sector contributes to the state.
The ban [...]
Drilling commences at Dorex’s Carmelita
by Jo Black
Dorex Minerals Inc. reports that diamond drilling has commenced on its 100% owned Carmelita property located within the IOCG belt of the Atacama Desert, Chile.
The company anticipates of up to 1,000-metre NQ core size diamond drill program of 5 holes that will test at least 4 mineralized zones. Diamond drilling has been contracted to Geo-Operanciones [...]
Halo announces pricing of offering of units
by Jo Black
Halo Resources Ltd. has set the price of the Units and Flow-Through Shares. Each Unit is comprised of one common share and one-half of one common share purchase warrant and will be sold for $0.25, with each whole warrant being exercisable to acquire one common share of Halo for a period of 18 months after [...]
Canstar amends agreement on McFauld’s Lake
by Jo Black
Canstar Resources Inc. will receive 2,500,000 shares of United Reef Limited from Geocanex as part of the option agreement announced on April 14 between Canstar, Geocanex and United Reef Limited on the Company’s 100%-owned McFauld’s Lake 1 property and the McFauld’s Lake 3 property, which is currently under option from Geocanex.
The agreement gives United [...]
Universal to develop Roseby Copper project
by Gill Montia
Universal Resources, the Australian copper and gold exploration company, has announced that its board has approved the development of the Roseby Copper project, in Queensland.
The project has yet to gain regulatory approval and will be subject to successful fund raising of around A$230 million.
Total capital costs are estimated at A$196 million and should be recovered [...]
Precious metals prices mixed in New York
by Elaine Frei
Precious metals prices were mixed Friday as the US dollar gained again on the euro, making commodities such as metals not quite as attractive as investments.
June gold dropped $27.60 to $915.30 per troy ounce in New York, while silver was 49 cents lower to $17.82 per troy ounce.
On the other hand, July platinum was $9.80 [...]
Western Areas update on Spotted Quoll nickel project
by Gill Montia
Australian miner, Western Areas, has announced that the first mineral resource estimate to 200m depth at the Spotted Quoll deposit has already exceeded the company’s announced target of 30,000 tonnes contained nickel.
Mineral resource at Spotted Quoll, which forms part of the Forrestania nickel project, comprises a total of 545,600 tonnes at an average grade of [...]
Latin American to acquire majority interest in La Carolina
by Jo Black
Geocom Resources Inc. announces that its joint venture partner in Argentina, Latin American Minerals Inc. (LAT), has exercised its option to acquire a 75% interest in the La Carolina Project, San Luis Province, Argentina. LAT has completed its required exploration expenditures and, with the final issuance of 175,000 common shares and payment of US $75,000 [...]
Hawthorne Gold closes first tranche of financing
by Jo Black
Hawthorne Gold Corp. has closed on $11,740,490 of the brokered private placement previously announced on April 2, 2008. The brokered private placement (the “Offering”) is led by Blackmont Capital Inc. and includes J.F. Mackie & Company Ltd. and M Partners Inc. (collectively the “Agents”).
The closing consisted of 3,443,009 units (the “Units”) priced at $1.75 [...]
Mineral Deposits updates on Sabodala Gold project
by Jo Black
Mineral Deposits Limited announces that a 46-hole, 2,570 metre RC drilling programme designed to test the resource model in the upper benches of mining Phase 1 has been completed at Sabodala. Results confirm the resource model grades and tonnages with additional mineralisation identified in several holes adding confidence to a successful start-up of the Sabodala [...]
Platinum gains as gold, silver prices decline
by Elaine Frei
Most precious metals prices were lower on Thursday, but platinum saw gains on new worries about South African output.
July platinum added $24.20 to $2,061.50 per troy ounce in New York after going as high as $2,079.80 earlier in the session on renewed concerns that power shosrtages could disrupt output in South African mines.
June gold was [...]
Mozambique invites international mining interest
by Gill Montia
Mozambique, a costal neighbour of Zimbabwe, has invited foreign investors to explore the country’s mining and energy resources.
Energy minister, Salvador Nambuerete, is promoting the country’s mineral reserves, which include gold.
This week, around 100 multinational companies from Europe, the US, Africa and Asia have been attending a conference focused on the development of the country’s natural [...]