Aluminium
Andean Resources hires VP operations
by Jo Black
Andean Resources Ltd has hired Mr. Stabro Kasaneva as Vice President of Operations.
Mr. Kasaneva is currently General Manager of the El Penon mine in Chile. The El Penon mine is a world-class gold and silver low-sulfidation epithermal deposit discovered and developed by Meridian Gold in the Atacama Desert of Chile, and now owned by Yamana [...]
Midway updates on Spring Valley gold project
by Jo Black
Midway Gold Corp. announces initial assay results from 2008 drilling at the Spring Valley project in Nevada. Fire assay results for six holes have been received to date, and include 110 feet of 0.024 ounces per ton (opt) gold in SV08-379. These results include core holes with 215 feet of 0.045 opt gold in SV07-294c [...]
Gold, silver prices decline
by Elaine Frei
Precious metals prices were mixed Thursday.
June gold dropped $5.70 to $931.80 per troy ounce after the euro dropped off a new record high versus the US dollar on comments from the European Central Bank’s president.
May silver also declined, falling 17 cents to $18.03 per troy ounce, but July platinum gained $2.40 to $2,047 per troy [...]
African Gold provides essay results
by Jo Black
African Gold Group, Inc., reports the assay results for 71 reverse circulation (RC) step-out drill holes, drilled on 9 lines covering a total of 5.5 kilometers of strike length at Kobada, Mali. These holes were drilled on a N30 degrees E orientation and are hypothesized to represent the potential strike extension, to the north and [...]
Queenston completes resource drilling
by Jo Black
Queenston Mining Inc. announces the completion of the resource definition drilling program at the 100% owned Upper Beaver property located in Kirkland Lake, Ontario. The remaining eight holes of the program have now been completed and the geological/engineering firm Watts, Griffis and McOuat, of Toronto, will begin a National Instrument 43-101 mineral resource calculation that [...]
Astral Mining to raise $1,800,000 CDN
by Jo Black
Astral Mining Corporation has arranged a non-brokered private placement of up to six million units priced at 30 cents per unit to raise $1,800,000. Subscribers may include directors and officers of the Company. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to [...]
Weak dollar, IMF forecast help metals
by Elaine Frei
Metals prices followed crude oil higher on Wednesday as the dollar weakened again versus the euro and the International Monetary Fund predicted that the United States will see a recession this year.
The IMF forecast that the US economy would only grow by 0.5 percent this year and by just 0.6 percent next year, and that [...]
Miranda Gold signs agreement to explore in Mexico
by Jo Black
Miranda Gold Corp. has signed an agreement with Y3K Exploration Company LLC (Y3K). Pursuant to the agreement, Y3K and its manager, David Griffith, will conduct a project generation program to locate and acquire properties having the potential to host “large” ore bodies of all valuable metals and minerals in Mexico funded by and for the [...]
Tournigan reports chemical assay results at Kuriskova
by Jo Black
Tournigan Gold Corporation reported results from geochemical assays taken from 13 diamond drill holes on its Kuriskova deposit in Eastern Slovakia. The results are part of Tournigan’s 10,129 metre, 30-hole, 2007 infill drilling program on the deposit. Two of the holes in the program were abandoned, one was structurally pinched and on one hole, drilling [...]
Centamin Egypt updates Sukari Gold project
by Jo Black
Centamin Egypt Limited announces upgrades to the Sukari Gold Project in Egypt.
HIGHLIGHTS
- The Sukari Mineral Resource upgraded to 8.12 Moz Measured and Indicated, plus 3.5 Moz Inferred
- An increase of 660,000oz in Measured and Indicated ounces above the Mineral Resource announced in December 2007 (an increase of approximately 9%)
- The resource increase is based on [...]
Metals prices follow oil lower
by Elaine Frei
Most metals prices were lower on Tuesday.
June gold dropped $9 in afternoon trade in New York to $917.80 per troy ounce, following crude oil prices, which were also slightly lower in afternoon trade.
May silver also declined, falling 38 cents to $17.73 per troy ounce while July platinum dropped $20.90 to $2,026 per troy ounce.
Meanwhile, copper [...]
IMF proposes gold sale
by Gill Montia
The International Monetary Fund (IMF) is overhauling its investments and plans to sell off £5.5 billion worth (or 403.3 tonnes) of its gold reserves.
IMF revenues have been declining for some time and the funds raised from the sale would be used to restore its finances and diversify investments.
The organisation’s main source of income is from [...]
Upper Canyon commences drilling at Brosnor property
by Jo Black
Upper Canyon Minerals Corp. announces that a 3,500 metre definition drilling program has commenced on its 100% owned Brosnor property located in Louvicourt township, approximately 30 kilometres east of the mining town of Val d’Or, Quebec.
The Brosnor property contains two gold zones, namely the Adelemont and the Norcourt, some 300 metres apart. The 2008 exploration [...]
Arian Silver updates on San Jose
by Jo Black
Arian Silver Corporation report further excellent results from its Phase-One drilling programme at its San Jose Property in Zacatecas State, Mexico. This 65-hole, 12,000 metre (m), programme was completed mid-March and has proved the continuation along strike of the San Jose Vein system between the Solidad and Santa Ana resource areas. The programme has also [...]
Eastern Platinum mine construction at the Crocette section
by Jo Black
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited report that following the granting of the New Order Mining Right for the Crocette section of the Crocodile River Mine (CRM) by the South African Department of Minerals and Energy (DME) the development of the Crocette mine has been initiated and underground development is underway.
Crocette [...]
Gold gains almost $14 on New York session
by Elaine Frei
Precious metals prices were higher on Monday on worries about more declines for the US dollar and on rising food and fuel prices.
Gold and silver were pushed up as higher prices for food and fuel sent investors looking for hedges against inflation.
June gold added $13.80 in New York to $927 per troy ounce while silver [...]
Western Areas announces record nickel intersection at Forrestania
by Gill Montia
Australian miner, Western Areas, has announced the discovery of a record nickel intersection at the Forrestania Nickel Project.
According to the press release, drill hole WBD 064 at Spotted Quoll intersected 17.3m at an estimated average grade of 9.8% nickel and 0.5% copper from 231.4m depth.
The estimated grade of the intersection is based on 208 separate [...]
Rusal acquisition in jeopardy as Norlisk co-owners mend fences
by Gill Montia
A report in The Sunday Telegraph suggests that the proposed merger of the Russian miners, Rusal and Norilsk Nickel, may be in jeopardy.
Norlisk can be said to owe its position as the world’ largest nickel producer to Mikhail Prokhorov and Vladimir Potanin, who between them own over 50% of the business.
Owing to a disagreement between [...]
Kinbauri Gold confirms extensive gold zones at Aztec, Nevada
by Jo Black
Kinbauri Gold Corp. has received the final report from its rock trenching program completed on its Aztec property (Aztec) in the Goldfield area of Esmeralda County, Nevada; approximately 184 linear meters were excavated (about 442 cu m) following drilling and blasting. The excavations targeted the more prospective areas within a large (1,200m by 200m) gold [...]
Technical report of MMX Corumbá’s Mineral Resources and Reserves
by Jo Black
MMX Mineração e Metálicos S.A. hereby informs its shareholders and investors that a new Technical Report of MMX Corumbá Mineração Ltda.(MMX Corumbá) mineral resources and reserves has been concluded.
The report was audited by SRK Consulting, an independent company specialized in geology and mining, and was carried out in accordance with the standards set by [...]