Aluminium
Gold Hawk provides update on the Coricancha mine
by Jo Black
Gold Hawk Resources Inc. provides the following update on the recent natural ground displacement around and near its tailings handling area of the Coricancha mine in Peru.
A well-respected civil engineering and geotechnical consulting firm based in Lima, and who is familiar with the property, has provided Gold Hawk management with an initial assessment of the [...]
Minefinders subsidiary commences binding arbitration
by Jo Black
Minefinders Corporation Ltd., a precious metals mining and exploration company, announced that a subsidiary company has commenced a binding arbitration process seeking approximately US$10 million in damages from Ausenco International PTY of Brisbane, Australia and a related company, Ausenco Americas LLC.
The binding arbitration was launched on May 22, 2008 by Minefinders’ subsidiary, Compañía Minera [...]
Opawica announces private placement unit offering closes
by Jo Black
Opawica Explorations Inc. announces that the private placement unit offering announced on April 9, 2008 has closed.
A total of 1,635,000 common shares were issued at $0.80 per share for proceeds of $1,308,000.
Each unit is comprised of one common share and one-half of one share purchase warrant entitling the holder to acquire one further common [...]
Most metals prices see gains
by Elaine Frei
Metals prices were mixed on Friday, with most precious and base metals higher but a few bucking trends and falling slightly.
Gold saw gains as investors looked for inflation-proof investments after crude oil prices remained high and the dollar weakened again in relation to the euro.
June gold was $7.40 higher to $925.70 per troy ounce near [...]
Committee Bay Resources to merge with Niblack Mining Corp.
by Jo Black
Committee Bay Resources Ltd. and Niblack Mining Corp. have announced that the two companies have entered into a Letter of Agreement providing for a business combination whereby Committee Bay will acquire all of the issued securities of Niblack on the share exchange ratio of one share of Committee Bay for every one share of Niblack. [...]
Golden Goliath expands mineralization at San Martin Tunnel
by Jo Black
Golden Goliath Resources Ltd. has announced that a comprehensive underground chip sampling and mapping program, combined with diamond drilling, on the San Martin tunnel has returned significant assays that have greatly expanded the known mineralization.
This new set of information, which includes grab samples from a new zone averaging 6.8 gm gold/tonne and 2,158 gm [...]
Sabina Silver director resigns
by Jo Black
Sabina Silver Corporation has announced that Mr. Ewan Downie has resigned as a director of the Company.
Mr. Downie joined the Board of Sabina in 2003. He served as Chair until 2004 and then as Vice President until 2007.
Mr. Downie was instrumental in facilitating Sabina’s 2003 acquisition of the Hackett River Property and [...]
Precious metals prices fall with oil prices
by Elaine Frei
Precious metals prices fell on Thursday as the US dollar made gains on the possibility that the Federal Reserve will raise US interest rates before the end of the year and as oil prices declined from Wednesday’s record high.
The drop in oil prices lessened demand for precious metals as a safe place to protect money [...]
Zambia’s miners stump up taxes
by Gill Montia
Zambia’s mining sector is still expected to provide tax revenues of $415 million this year, despite concerns that a reduced power supply would make the target unattainable.
The country introduced a new tax regime this April, which increased mineral royalty from 0.6% to 3% while at the same time raising corporate tax liability from 25% to [...]
Phase 1 drilling completed at Dorex’s Carmelita project
by Jo Black
Dorex Minerals Inc has reported that the Phase 1 diamond drilling has been completed on its 100% owned Carmelita property located within the IOCG belt of the Atacama Desert, Chile.
This exploratory drill program was designed to test for widespread porphyry or IOCG (Iron Oxide Copper Gold) style mineralization as well as a smaller, higher [...]
Adex contract to SGS Lakefield for mineralogy assessment studies
by Jo Black
Adex Mining Inc. announces the award of an ore mineralogy assessment contract for the development of tungsten, molybdenum, tin and indium at the Mount Pleasant Mine Property located in southwestern New Brunswick.
Adex awarded the contract to SGS Lakefield Research Limited of Lakefield, Ontario for a detailed mineralogy assessment of ore at various locations within the [...]
Gryphon Gold enters into Letter of Intent with Piedmont Mining
by Jo Black
Gryphon Gold Corporation announces that its wholly owned subsidiary, Nevada Eagle Resources, has entered into a Letter of Intent to complete an Exploration Agreement with an Option to Form a Joint Venture with Piedmont Mining Company Inc. (Piedmont).
Under the terms, Piedmont may acquire up to a 70% interest in a gold property originally discovered by [...]
Precious metals follow oil higher
by Elaine Frei
Precious metals were higher in New York on Wednesday after crude oil prices reached yet another record high as it traded at $132.30 per barrel in afternoon trade as well as on a dollar that weakened again in relation to the euro.
June gold added $8.60 to $928.80 per troy ounce, while July silver was up [...]
Richmont, Mountain Lake to advance the valentine lake gold project
by Jo Black
Richmont Mines Inc. and Mountain Lake Resources Inc. have finalized the parameters of the joint venture agreement between the two companies, which will govern the terms and conditions of future work programs on the Valentine Lake Project.
In addition, plans for the 2008 field work program have been completed. Mountain Lake will be the field operators [...]
Carmacks copper project advances in the permitting process
by Jo Black
Western Copper Corporation announces that the Carmacks Copper Project in the Yukon Territory, has moved to the next stage of the assessment process under the Yukon Environmental and Socio-economic Assessment Act (YESAA).
On May 12, 2008, the Executive Committee of the Yukon Environmental and Socio-economic Assessment Board (YESAB) determined that the supplementary information submitted by Western [...]
Lake Shore Gold provides 2008/2009 budget plan
by Jo Black
Lake Shore Gold Corp. provided a project update and outlook for 2008 and 2009, which envisions initial deliveries of ore from its Timmins West property to the Company’s 100%-owned Bell Creek mill by early in 2009 and a steady ramp up in production which could reach approximately 200,000 ounces of gold by 2011.
Lake Shore Gold’s [...]
Gold gains on oil prices, weak dollar
by Elaine Frei
Precious metals prices were mixed as platinum fell but gold and silver both saw gains on concerns about inflation as crude oil prices spiked to a new record at $129.58 per barrel in New York.
The dollar was weaker on a report that producer prices jumped 0.2 percent, more than expected, in April, and as the [...]
Galaxy extends Mt Cattlin feasibility study
by Gill Montia
Galaxy Resources, the Western Australian mineral resources company, has announced an update on its Bankable Feasibility Study (BFS) for the development of the Mt Cattlin Lithium/Tantalum project.
The company has reassessed the BFS parameters to include lithium carbonate production and is in the process of appointing an international engineering group to complete the lithium carbonate test [...]
Golden Chalice commences drilling on Radio Hill property
by Jo Black
Golden Chalice Resources Inc. announces that drilling has commenced on the Company’s Radio Hill Property, which is located approximately 76 kilometres southwest of Timmins, Ontario.
The Radio Hill Property has potential to host gold, nickel, copper, zinc or iron ore deposits.
An historical non-compliant 43-101 resource was calculated for the iron mineralization on the Property [...]
Firstgold Corp. updates Pit area drilling
by Jo Black
Firstgold Corp. has announced the updated drill results from its ongoing drilling in and around the pit areas at Relief Canyon.
CEO Steve Akerfeldt commented saying that drilling is ongoing at Relief Canyon as we continue mapping mineralization and providing information to SRK for our resource study.
The Relief Canyon 2008 Drilling Program has two [...]