“Daily updated mining exploration news on gold”—–The historic significance of an Otago site at which a gold rush was sparked nearly 150 years ago is in line to get heritage recognition from the Historic Places Trust.
The trust said it was undertaking formal registration of Gabriel’s Gully, near Lawrence.
The site is where Gabriel Read discovered gold in 1861, leading to the gold rushes that transformed the province into the country’s wealthiest.
At its peak, Gabriel’s Gully attracted more than 10,000 miners to the region and Dunedin became the largest city in New Zealand .
Archaeological features remain on site, including Pollard’s Dam, water races, powder magazines, sluicing faces, mine shafts, remains of stamper batteries and tailing races and piles.
Gabriel’s Gully is managed by the Department of Conservation as an historic reserve.
Showing posts with label Mining Exploration. Show all posts
Showing posts with label Mining Exploration. Show all posts
Monday, November 10, 2008
Wednesday, September 10, 2008
Explorations of the Highlands of the Brazil: With a Full Account of the Gold and Diamond Mines. Also, Canoeing down 1500 Miles of the Great River Sâo
Explorations of the Highlands of the Brazil: With a Full Account of the Gold and Diamond Mines. Also, Canoeing down 1500 Miles of the Great River Sâo Francisco, from Sabará to the Sea. Volume 2
Sunday, August 24, 2008
Resource and Exploration Update, Lanfranchi Nickel Mine, Kambalda District of Western Australia
Brilliant Mining Corp.: Resource and Exploration Update, Lanfranchi Nickel Mine, Kambalda District of Western Australia
VANCOUVER, BRITISH COLUMBIA- Brilliant Mining Corp. (TSX VENTURE:BMC - News; “Brilliant” or the “Company”) today reported an updated Measured, Indicated and Inferred Mineral Resource and an exploration update from its 25% owned Lanfranchi Nickel Mine, located in the world class Kambalda Nickel District of Western Australia.
Key Point Summary:
- 3.71 Mt at 2.58% Measured and Indicated Mineral Resource for 95,516t (210.5 MLbs) of Ni metal
- 1,62 Mt at 1.84% Inferred Resource for 29,846t (65.8 Mlbs) of Ni Metal reported at the Lanfranchi Mine as at June 30, 2008
- 2008/09 underground exploration focused on adding to mineral resource and reserve base with Deacon down-plunge drill program to commence in September 2008
- AU$8 million, 56,000m, 82 drill hole aggressive surface program
“The significant global resource reported at the Lanfranchi Mine reflects the future longevity of the operation,” states John Williamson, CEO of Brilliant Mining, “That has the potential to be increased even further through the aggressive surface and underground exploration program which we have initiated.”
Lanfranchi Project - Resource Update
An updated Measured, Indicated and Inferred Mineral Resource as at 30 June 2008 for the Lanfranchi Project is reported in the following table (Table 1).
Table 1: Lanfranchi Project Estimated Mineral Resource at 30 June 2008
————————————————————————–
————————————————————————–
As at June 30 2008 As at June 30 2007
————————————————————————–
Tonnes Ni Ni Metal Tonnes Ni Ni Metal
——————————————————-
Resource Category (,000) (%)(tonnes) (Mlbs) (,000) (%)(tonnes) (Mlbs)
————————————————————————–
————————————————————————–
Deacon Indicated 1,783 2.88 51,365 113.2 1,607 3.09 49,692 109.6
——————————————————-
Inferred 460 2.64 12,186 26.9 303 2.77 8,389 18.5
————————————————————————–
Helmut Measured 216 2.85 6,172 13.6 457 2.44 11,138 24.6
South ——————————————————-
Indicated 38 2.58 973 2.1
————————————————————————–
Winner Indicated 82 5.67 4,673 10.3 112 6.16 6,879 15.2
————————————————————————–
Lanfr- Measured 11 4.11 471 1.0
anchi ——————————————————-
Indicated 67 5.79 3,887 8.6 99 3.04 3,002 6.6
——————————————————-
Inferred 11 5.24 552 1.2 35 4.25 1,476 3.3
————————————————————————–
Schmitz Indicated 75 4.55 3,412 7.5 75 4.55 3,412 7.5
——————————————————-
Inferred 11 3.58 376 0.8 11 3.58 376 0.8
————————————————————————–
Martin Indicated 44 3.88 1,722 3.8 44 3.88 1,722 3.8
——————————————————-
Inferred 6 3.50 208 0.5 6 3.50 208 0.5
————————————————————————–
Cruik- Indicated 1,139 1.41 16,025 35.3 1,139 1.41 16,025 35.3
shank ——————————————————-
Inferred 931 1.33 12,397 27.3 931 1.33 12,397 27.3
————————————————————————–
Remnant Indicated 253 2.69 6,816 15.0 253 2.69 6,816 15.0
——————————————————-
Inferred 203 2.03 4,127 9.1 203 2.03 4,127 9.1
————————————————————————–
————————————————————————–
Total Measured 227 2.93 6,643 14.6 457 2.44 11,138 24.6
——————————————————-
Indicated 3,481 2.55 88,873 195.9 3,328 2.63 87,548 193.0
——————————————————-
Inferred 1,622 1.84 29,846 65.8 1,489 1.81 26,973 59.5
—————————————————————————
Notes:
1. Resources estimated at 1.0% Ni cut-off and 1.6% cut-off for Schmitz
2. All mineralised zone interpretations were reviewed and modified where
necessary by BM Geological Services Pty Ltd (BMGS) in consultation with
Lanfranchi Joint Venture staff prior to resource estimation
3. BMGS believes that the current geological models are fundamentally sound
and provides an appropriate basis for mine planning and project evaluation
4. Remnant Resources reflect ore remaining post historical mining by WMC
5. The Schmitz, Martin, Cruikshank and Remnant Resource estimates are
unchanged from the Company’s 43-101 technical Report on the Lanfranchi
Nickel Project dated August 2007 and filed on SEDAR
6. Additional notes detailing the Resource Estimation Parameters utilized
are listed at the bottom of this press release
After production of 7,303 tonnes (16.1 MLbs) of contained Ni metal from the Lanfranchi mine in 2007/08 the measured and indicated mineral resources for the project decreased by approximately 3,170 tonnes (7.0 MLbs) of Ni metal compared to the mineral resource as at 30 June 2007. The principal decrease in mineral resource was due to ore sourced from the Helmut South and Winner orebodies throughout the 07/08 mine production year. A relative gain was reported in the Deacon Resource estimate from the recent detailed delineation drill program.
In 2008/09 underground exploration activities will be focused on replenishing and adding to our mineral resource and reserve base by drilling the down plunge extensions at Deacon, Helmut South, Schmitz, and Lanfranchi.
Deacon Down Plunge Delineation Drill Program
The Deacon 5920 hanging wall exploration drill drive commenced during the quarter and is on schedule for a resource delineation drill program to commence in September. The first phase of drilling will target the existing 11,500 tonne of Ni metal currently classified as an Inferred Mineral Resource at the base of the Deacon Ni channel with the intent to upgrade it to an Indicated Resource and then convert to Reserves. This drill campaign has the potential to significantly add to mine life in the Reserve category.
The second phase of drilling will be to target a further 150m to 200m down plunge of the Inferred Resource limits with the intent to add new material into the resource base at the mine. A high level of confidence exists for the down plunge continuation of the Deacon mineralisation as evidenced by the strong geophysical conductor identified by parallel EM drilling performed during the last quarter of 2007 (see company press release dated November 1, 2007).
To view Figure 1, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%201.pdf
Winner Down Plunge Extension
As part of the latest resource definition drill program, drill hole WD084 was completed to enable geophysics to test the down plunge potential of the Winner Ni channel. The down hole EM survey produced a strong EM response indicating a high confidence level for the continuation of the Winner mineralisation an additional 25 to 30m down plunge of the interpreted resource limits.
Drilling to test this extension is planned when the Winner decline has progressed sufficiently to enable the development of a suitably positioned underground drill station.
Lanfranchi Down Plunge Extension
The latest resource definition drill program has increased the Measured and Indicated Mineral Resource at Lanfranchi by 45% or 1,356 tonnes (3.0 MLbs) of Ni metal. The Lanfranchi Ni channel remains open to depth.
Tramways Tenements - Surface Exploration Update
The Lanfranchi Joint Venture has embarked on an aggressive surface exploration program on the Tramways Tenements host to the producing high-grade Lanfranchi Nickel Mine. The current 82 hole 56,000 metre drill program is budgeted at AU$8 million and will test various prospective areas across the property as is shown in Fig 2.
To view Figure 2, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%202.pdf
Northern Dome Drill Area
An AU$2.5 million, 12,000 metre, 24 hole drill program is budgeted for the Northern Tramways Dome. The completed program will entail infill drilling and deeper drill traverses within the high priority “channel facies” ultramafic corridor along the interpreted overturned continuation of the Winner-Schmitz and Helmut-Deacon Ni channels. In addition, a 100 metre spaced drill fence is planned further to the west towards the projected overturned position of the main Lanfranchi orebody.
To date, 19 drill holes have been completed for a total of 5,376m of RC and 4,349m of diamond drilling with down hole EM surveys completed in 13 of the drill holes.
To view Figure 3, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%203.pdf
The drilling continues to provide strong evidence of the potential for the area to host a nickel sulphide discovery. Multi-element geochemistry continues to provide support for the overturning of the ultramafic/basalt contact on the northern margin of the Tramways Dome and identification of two high priority ‘nickel channel facies’ corridors in the projected overturned position of the Winner-Schmitz and Helmut-Deacon Ni channels. In addition, multiple high grade nickel sulphide intercepts have been identified (as previously reported on April 22, 2008).
One significant assay was received for the Northern Tramways area during the quarter, 0.25m grading 9.27% nickel, for the previously reported massive sulphide intercept in TD8043 (from 285.72m). Geophysical anomalies reported from the down hole EM surveys typically have related to either previously reported mineralisation or sediment layers. However one hole, TD8064 reported an off-hole anomaly from 420m within ultramafic that is recommended for follow-up drilling.
Lanfranchi West Drill Area
A program of surface drilling has commenced in the Ham-Edwin area focused on the down plunge extents of the Ham to Edwin Ni channel mineralisation. To date 16 RC pre-collars (TD8067-TD8083) have been completed for a total of 6,082m. Towards the end of the quarter diamond drilling commenced with 6 diamond tails (TD8067-TD8072) for 747m completed.
The results of the drilling have been encouraging with mineralisation intersected in two holes as follows:
- 6.35% Ni over 1.0m in TD8069 (458m); and
- 1.84% Ni over 0.25m in TD8072 (563.35m)
Additionally, the drill results to date indicate significant variation in the basal contact topography and hence provide the environment favorable for nickel-bearing troughs or embayments.
The drill spacing remains broad at 100m and allows ample room for an Edwin style orebody. Down hole geophysics is pending on all holes.
To view Figure 4, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%204.pdf
The project is supervised by John Williamson, P.Geol., of Edmonton, Alberta. Mr. Williamson is CEO and a Director of Brilliant, and is the qualified person as defined by National Instrument 43-101.
(ii) Table 1 Notes:
The Deacon Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 10m NS x 10m EW x 2m vertical with 5.0m x 5.0m x 1.0m sub-cells. The model comprises 107 underground diamond drill holes for a total of 14,338m of diamond drilling with a total of 4,898 core samples collected. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Grade interpolation is by Inverse Distance techniques using an oriented search ellipse based on the geometry of the mineralization. Models for validation and verification have also been completed using Ordinary Kriged interpolations.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 50m centres to a 1.0% Ni cut-off grade. The Deacon resource cut-off was reduced from the previous reiteration due to the selection of a bulk mining method supporting the 0.8%Ni economic cut-off for reserves. When present, high grade massive nickel sulphide mineralization was domained separately.
The Deacon Mineral Resource is largely classified as Indicated due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation. A small zone of mineralization at the extremities of the resource has been classified as Inferred due to the lack of sample support and/or poor continuity of grade and lithological controls.
The Lanfranchi Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 5.0m x 5.0m x 1.0m cells. The model comprises a total of 57 diamond holes for 7,058m of diamond drilling and a total of 1,194 core samples collected. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Grade interpolation is by Inverse Distance techniques using an oriented search ellipse based on the geometry of the mineralization. Models for validation and verification have also been completed using Ordinary Kriged interpolations.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 10m centres to a 1.0% Ni cut-off grade.
The Lanfranchi Mineral Resource is largely classified as Measured and Indicated due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation. A small zone of mineralization at the extremities of the resource has been classified as Inferred due to the lack of sample support and/or poor continuity of grade and lithological controls.
The Winner Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 5.0m x 2.5m x 0.5m cells. The geological framework used for the June 2008 resource estimate incorporates the mineralisation and structural model developed from new drilling as well as the previous interpretation completed in November 2007 based on 43 surface RC and diamond drill holes. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Variograms were calculated on multiple orientations to test for optimal grade continuity within the Winner mineralisation. The variogram that represented the highest continuity orientation was selected, which in turn also supported the geological strike of the mineralisation. Grade interpolation was completed using Ordinary Kriging methods.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 10m centres to a 1.0% Ni cut-off grade as well as a second wireframe with a cut off grade of 0.7% Ni to incorporate lower grade, disseminated marginal material identified on the edges of the orebody.
The Winner Mineral Resource is largely classified as Indicated due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation. A small zone of mineralization at the extremities of the resource has been classified as Inferred due to the lack of sample support and/or poor continuity of grade and lithological controls.
The Helmut South Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 5m NS x 1m EW x 5m cells. The geological framework used for the June 2008 resource estimate incorporates the mineralisation and structural model developed from new drilling as well as the previous interpretation completed in August 2007 based on 90 underground diamond drill holes. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Grade interpolation is by Inverse Distance techniques using an oriented search ellipse based on the geometry of the mineralization. Models for validation and verification have also been completed using Ordinary Kriged interpolations.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 10m centres to a 1.0% Ni cut-off grade. The Helmut South Mineral Resource is largely classified as Measured due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation.
All core samples collected have been half cored using a diamond saw. The minimum sample size was set at 20cm and the maximum sample size was set at 1.00m. KalAssay Laboratories in Kalgoorlie (KalAssay) have completed all assaying of the samples collected by LNM. The analytical technique employed to analyze all samples is a 4 acid digest with an ICP finish.
About Brilliant Mining Corp.
Brilliant Mining Corp. is focused on the production, development and exploration of nickel opportunities world wide. The Company currently has a 25% interest in the producing Lanfranchi Nickel Mine in Western Australia and has active nickel projects in Canada, including the Michikamau property in central Labrador.
On behalf of the Board of Directors
Mike Sieb, B.Sc., MBA, President
Brilliant Mining Corp.
For further information about Brilliant Mining Corp., or this news release, please visit our website at www.brilliantmining.com.
Certain disclosures in this release, including management’s assessment of Brilliant’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Brilliant’s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Brilliant expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Mike Sieb
Brilliant Mining Corp.
President
(604) 646-4525
Email: mikes@brilliantmining.com
Derek Iwanaka
Brilliant Mining Corp.
Investor Relations
(604) 646-4524
Email: info@brilliantmining.com
Website: www.brilliantmining.com
Source: Brilliant Mining Corp.
VANCOUVER, BRITISH COLUMBIA- Brilliant Mining Corp. (TSX VENTURE:BMC - News; “Brilliant” or the “Company”) today reported an updated Measured, Indicated and Inferred Mineral Resource and an exploration update from its 25% owned Lanfranchi Nickel Mine, located in the world class Kambalda Nickel District of Western Australia.
Key Point Summary:
- 3.71 Mt at 2.58% Measured and Indicated Mineral Resource for 95,516t (210.5 MLbs) of Ni metal
- 1,62 Mt at 1.84% Inferred Resource for 29,846t (65.8 Mlbs) of Ni Metal reported at the Lanfranchi Mine as at June 30, 2008
- 2008/09 underground exploration focused on adding to mineral resource and reserve base with Deacon down-plunge drill program to commence in September 2008
- AU$8 million, 56,000m, 82 drill hole aggressive surface program
“The significant global resource reported at the Lanfranchi Mine reflects the future longevity of the operation,” states John Williamson, CEO of Brilliant Mining, “That has the potential to be increased even further through the aggressive surface and underground exploration program which we have initiated.”
Lanfranchi Project - Resource Update
An updated Measured, Indicated and Inferred Mineral Resource as at 30 June 2008 for the Lanfranchi Project is reported in the following table (Table 1).
Table 1: Lanfranchi Project Estimated Mineral Resource at 30 June 2008
————————————————————————–
————————————————————————–
As at June 30 2008 As at June 30 2007
————————————————————————–
Tonnes Ni Ni Metal Tonnes Ni Ni Metal
——————————————————-
Resource Category (,000) (%)(tonnes) (Mlbs) (,000) (%)(tonnes) (Mlbs)
————————————————————————–
————————————————————————–
Deacon Indicated 1,783 2.88 51,365 113.2 1,607 3.09 49,692 109.6
——————————————————-
Inferred 460 2.64 12,186 26.9 303 2.77 8,389 18.5
————————————————————————–
Helmut Measured 216 2.85 6,172 13.6 457 2.44 11,138 24.6
South ——————————————————-
Indicated 38 2.58 973 2.1
————————————————————————–
Winner Indicated 82 5.67 4,673 10.3 112 6.16 6,879 15.2
————————————————————————–
Lanfr- Measured 11 4.11 471 1.0
anchi ——————————————————-
Indicated 67 5.79 3,887 8.6 99 3.04 3,002 6.6
——————————————————-
Inferred 11 5.24 552 1.2 35 4.25 1,476 3.3
————————————————————————–
Schmitz Indicated 75 4.55 3,412 7.5 75 4.55 3,412 7.5
——————————————————-
Inferred 11 3.58 376 0.8 11 3.58 376 0.8
————————————————————————–
Martin Indicated 44 3.88 1,722 3.8 44 3.88 1,722 3.8
——————————————————-
Inferred 6 3.50 208 0.5 6 3.50 208 0.5
————————————————————————–
Cruik- Indicated 1,139 1.41 16,025 35.3 1,139 1.41 16,025 35.3
shank ——————————————————-
Inferred 931 1.33 12,397 27.3 931 1.33 12,397 27.3
————————————————————————–
Remnant Indicated 253 2.69 6,816 15.0 253 2.69 6,816 15.0
——————————————————-
Inferred 203 2.03 4,127 9.1 203 2.03 4,127 9.1
————————————————————————–
————————————————————————–
Total Measured 227 2.93 6,643 14.6 457 2.44 11,138 24.6
——————————————————-
Indicated 3,481 2.55 88,873 195.9 3,328 2.63 87,548 193.0
——————————————————-
Inferred 1,622 1.84 29,846 65.8 1,489 1.81 26,973 59.5
—————————————————————————
Notes:
1. Resources estimated at 1.0% Ni cut-off and 1.6% cut-off for Schmitz
2. All mineralised zone interpretations were reviewed and modified where
necessary by BM Geological Services Pty Ltd (BMGS) in consultation with
Lanfranchi Joint Venture staff prior to resource estimation
3. BMGS believes that the current geological models are fundamentally sound
and provides an appropriate basis for mine planning and project evaluation
4. Remnant Resources reflect ore remaining post historical mining by WMC
5. The Schmitz, Martin, Cruikshank and Remnant Resource estimates are
unchanged from the Company’s 43-101 technical Report on the Lanfranchi
Nickel Project dated August 2007 and filed on SEDAR
6. Additional notes detailing the Resource Estimation Parameters utilized
are listed at the bottom of this press release
After production of 7,303 tonnes (16.1 MLbs) of contained Ni metal from the Lanfranchi mine in 2007/08 the measured and indicated mineral resources for the project decreased by approximately 3,170 tonnes (7.0 MLbs) of Ni metal compared to the mineral resource as at 30 June 2007. The principal decrease in mineral resource was due to ore sourced from the Helmut South and Winner orebodies throughout the 07/08 mine production year. A relative gain was reported in the Deacon Resource estimate from the recent detailed delineation drill program.
In 2008/09 underground exploration activities will be focused on replenishing and adding to our mineral resource and reserve base by drilling the down plunge extensions at Deacon, Helmut South, Schmitz, and Lanfranchi.
Deacon Down Plunge Delineation Drill Program
The Deacon 5920 hanging wall exploration drill drive commenced during the quarter and is on schedule for a resource delineation drill program to commence in September. The first phase of drilling will target the existing 11,500 tonne of Ni metal currently classified as an Inferred Mineral Resource at the base of the Deacon Ni channel with the intent to upgrade it to an Indicated Resource and then convert to Reserves. This drill campaign has the potential to significantly add to mine life in the Reserve category.
The second phase of drilling will be to target a further 150m to 200m down plunge of the Inferred Resource limits with the intent to add new material into the resource base at the mine. A high level of confidence exists for the down plunge continuation of the Deacon mineralisation as evidenced by the strong geophysical conductor identified by parallel EM drilling performed during the last quarter of 2007 (see company press release dated November 1, 2007).
To view Figure 1, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%201.pdf
Winner Down Plunge Extension
As part of the latest resource definition drill program, drill hole WD084 was completed to enable geophysics to test the down plunge potential of the Winner Ni channel. The down hole EM survey produced a strong EM response indicating a high confidence level for the continuation of the Winner mineralisation an additional 25 to 30m down plunge of the interpreted resource limits.
Drilling to test this extension is planned when the Winner decline has progressed sufficiently to enable the development of a suitably positioned underground drill station.
Lanfranchi Down Plunge Extension
The latest resource definition drill program has increased the Measured and Indicated Mineral Resource at Lanfranchi by 45% or 1,356 tonnes (3.0 MLbs) of Ni metal. The Lanfranchi Ni channel remains open to depth.
Tramways Tenements - Surface Exploration Update
The Lanfranchi Joint Venture has embarked on an aggressive surface exploration program on the Tramways Tenements host to the producing high-grade Lanfranchi Nickel Mine. The current 82 hole 56,000 metre drill program is budgeted at AU$8 million and will test various prospective areas across the property as is shown in Fig 2.
To view Figure 2, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%202.pdf
Northern Dome Drill Area
An AU$2.5 million, 12,000 metre, 24 hole drill program is budgeted for the Northern Tramways Dome. The completed program will entail infill drilling and deeper drill traverses within the high priority “channel facies” ultramafic corridor along the interpreted overturned continuation of the Winner-Schmitz and Helmut-Deacon Ni channels. In addition, a 100 metre spaced drill fence is planned further to the west towards the projected overturned position of the main Lanfranchi orebody.
To date, 19 drill holes have been completed for a total of 5,376m of RC and 4,349m of diamond drilling with down hole EM surveys completed in 13 of the drill holes.
To view Figure 3, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%203.pdf
The drilling continues to provide strong evidence of the potential for the area to host a nickel sulphide discovery. Multi-element geochemistry continues to provide support for the overturning of the ultramafic/basalt contact on the northern margin of the Tramways Dome and identification of two high priority ‘nickel channel facies’ corridors in the projected overturned position of the Winner-Schmitz and Helmut-Deacon Ni channels. In addition, multiple high grade nickel sulphide intercepts have been identified (as previously reported on April 22, 2008).
One significant assay was received for the Northern Tramways area during the quarter, 0.25m grading 9.27% nickel, for the previously reported massive sulphide intercept in TD8043 (from 285.72m). Geophysical anomalies reported from the down hole EM surveys typically have related to either previously reported mineralisation or sediment layers. However one hole, TD8064 reported an off-hole anomaly from 420m within ultramafic that is recommended for follow-up drilling.
Lanfranchi West Drill Area
A program of surface drilling has commenced in the Ham-Edwin area focused on the down plunge extents of the Ham to Edwin Ni channel mineralisation. To date 16 RC pre-collars (TD8067-TD8083) have been completed for a total of 6,082m. Towards the end of the quarter diamond drilling commenced with 6 diamond tails (TD8067-TD8072) for 747m completed.
The results of the drilling have been encouraging with mineralisation intersected in two holes as follows:
- 6.35% Ni over 1.0m in TD8069 (458m); and
- 1.84% Ni over 0.25m in TD8072 (563.35m)
Additionally, the drill results to date indicate significant variation in the basal contact topography and hence provide the environment favorable for nickel-bearing troughs or embayments.
The drill spacing remains broad at 100m and allows ample room for an Edwin style orebody. Down hole geophysics is pending on all holes.
To view Figure 4, please click on the following URL: http://media3.marketwire.com/docs/Brilliant%20Figure%204.pdf
The project is supervised by John Williamson, P.Geol., of Edmonton, Alberta. Mr. Williamson is CEO and a Director of Brilliant, and is the qualified person as defined by National Instrument 43-101.
(ii) Table 1 Notes:
The Deacon Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 10m NS x 10m EW x 2m vertical with 5.0m x 5.0m x 1.0m sub-cells. The model comprises 107 underground diamond drill holes for a total of 14,338m of diamond drilling with a total of 4,898 core samples collected. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Grade interpolation is by Inverse Distance techniques using an oriented search ellipse based on the geometry of the mineralization. Models for validation and verification have also been completed using Ordinary Kriged interpolations.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 50m centres to a 1.0% Ni cut-off grade. The Deacon resource cut-off was reduced from the previous reiteration due to the selection of a bulk mining method supporting the 0.8%Ni economic cut-off for reserves. When present, high grade massive nickel sulphide mineralization was domained separately.
The Deacon Mineral Resource is largely classified as Indicated due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation. A small zone of mineralization at the extremities of the resource has been classified as Inferred due to the lack of sample support and/or poor continuity of grade and lithological controls.
The Lanfranchi Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 5.0m x 5.0m x 1.0m cells. The model comprises a total of 57 diamond holes for 7,058m of diamond drilling and a total of 1,194 core samples collected. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Grade interpolation is by Inverse Distance techniques using an oriented search ellipse based on the geometry of the mineralization. Models for validation and verification have also been completed using Ordinary Kriged interpolations.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 10m centres to a 1.0% Ni cut-off grade.
The Lanfranchi Mineral Resource is largely classified as Measured and Indicated due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation. A small zone of mineralization at the extremities of the resource has been classified as Inferred due to the lack of sample support and/or poor continuity of grade and lithological controls.
The Winner Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 5.0m x 2.5m x 0.5m cells. The geological framework used for the June 2008 resource estimate incorporates the mineralisation and structural model developed from new drilling as well as the previous interpretation completed in November 2007 based on 43 surface RC and diamond drill holes. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Variograms were calculated on multiple orientations to test for optimal grade continuity within the Winner mineralisation. The variogram that represented the highest continuity orientation was selected, which in turn also supported the geological strike of the mineralisation. Grade interpolation was completed using Ordinary Kriging methods.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 10m centres to a 1.0% Ni cut-off grade as well as a second wireframe with a cut off grade of 0.7% Ni to incorporate lower grade, disseminated marginal material identified on the edges of the orebody.
The Winner Mineral Resource is largely classified as Indicated due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation. A small zone of mineralization at the extremities of the resource has been classified as Inferred due to the lack of sample support and/or poor continuity of grade and lithological controls.
The Helmut South Mineral Resource Estimate, which is JORC-compliant, has been prepared by BM Geological Services Pty Ltd and Lanfranchi Nickel Mines personnel; and has been reconciled to the mineral resource and mineral reserve categories as set out by and adopted by the CIM Council. The estimate is based on a 3D Surpac block model utilizing a block size of 5m NS x 1m EW x 5m cells. The geological framework used for the June 2008 resource estimate incorporates the mineralisation and structural model developed from new drilling as well as the previous interpretation completed in August 2007 based on 90 underground diamond drill holes. All holes have been accurately located using theodolite survey instruments and down-hole “Reflex EZ Shot” survey cameras. Grade interpolation is by Inverse Distance techniques using an oriented search ellipse based on the geometry of the mineralization. Models for validation and verification have also been completed using Ordinary Kriged interpolations.
The tonnes and grade of the Mineral Resource estimate is the material constrained within the interpreted mineralization wireframes which were constructed on sectional interpretations at 10m centres to a 1.0% Ni cut-off grade. The Helmut South Mineral Resource is largely classified as Measured due to the good continuity of the mineralization, the adequate drill hole spacing and the confidence gained from QA/QC checks and data validation.
All core samples collected have been half cored using a diamond saw. The minimum sample size was set at 20cm and the maximum sample size was set at 1.00m. KalAssay Laboratories in Kalgoorlie (KalAssay) have completed all assaying of the samples collected by LNM. The analytical technique employed to analyze all samples is a 4 acid digest with an ICP finish.
About Brilliant Mining Corp.
Brilliant Mining Corp. is focused on the production, development and exploration of nickel opportunities world wide. The Company currently has a 25% interest in the producing Lanfranchi Nickel Mine in Western Australia and has active nickel projects in Canada, including the Michikamau property in central Labrador.
On behalf of the Board of Directors
Mike Sieb, B.Sc., MBA, President
Brilliant Mining Corp.
For further information about Brilliant Mining Corp., or this news release, please visit our website at www.brilliantmining.com.
Certain disclosures in this release, including management’s assessment of Brilliant’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Brilliant’s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Brilliant expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Mike Sieb
Brilliant Mining Corp.
President
(604) 646-4525
Email: mikes@brilliantmining.com
Derek Iwanaka
Brilliant Mining Corp.
Investor Relations
(604) 646-4524
Email: info@brilliantmining.com
Website: www.brilliantmining.com
Source: Brilliant Mining Corp.
Friday, August 8, 2008
Deepwater Petroleum Exploration & Production: A Nontechnical Guide
Book Info
Text overviews the business, engineering, and technology of deepwater petroleum exploration and production. Provides coverage of all aspects of deepwater operations: including historic background; drilling and completing wells; development systems; fixed structures; floating production systems; subsea systems; topsides; and pipelines, flowlines, and risers.
This is a good place to start if you're looking for a very general introduction to deepwater exploration and production (E&P). Almost nothing gets a lot of detail, but almost nothing is omitted. The chapters cover the following topics:
1 - history of offshore drilling
2 - the move into deeper and deeper water in the eighties
3 - exploration
4 - drilling and completion
5 - development systems
6 - fixed structures -- compliant towers, concrete, etc.
7 - floating systems -- TLPs, FPSOs, spars, and so on
8 - subsea systems
9 - topsides
10 - piplines, flowlines, and risers
11 - technology and the future
The writing is sound, and there are plenty of decent graphics -- pictures of the gigantic Bullwinkle platform; photographs and schematics of equipment and layouts; and a couple of colour plates showing seismic analysis displays. The chapters are really just overviews -- although there's a fair amount of detail in some areas, particularly in platform construction and assembly, there is so much to say that they can't do more than scratch the surface.
The book does give you quite a lot of vocabulary to work with, which is valuable. There are a multitude of online oil and gas glossaries that you might want to search for via the web, but the narrative form that this book provides is a pretty good way to understand them too.
If you are new to E&P and would like a good overview, this is a pretty good place to start, but it won't take you very far in any one direction.
Mining News- Miniveyor In African Joint Venture
Rako Products Limited, manufacturers of the world’s favorite portable conveyor system the Miniveyor™ is expanding its distribution channels with the launch of Miniveyor Africa.
(1888PressRelease) October 29, 2007 - STONEHOUSE, UK — The Joint Venture company, based in the heart of the platinum mining area of Rustenburg is headed up by CEO Louis Labuschagne who brings with him a wealth of experience of mining operations and mineral extraction.
Darracq Shawe, Managing Director of Rako Products Ltd added “Miniveyor Africa builds on our experience gained in the Brazilian mining sector. The JV gives us a platform to promote our entire product range not only within the Republic but to the entire Sub-Sahara region. Although mining operations will be our main focus the construction market in the RSA is also booming with the hosting of the FIFA World Cup just around the corner”
NOTES TO EDITORS
Rako Products Ltd, whose manufacturing headquarters are based in Stonehouse U.K., specialize in equipment for confined space working and its Miniveyor conveyor system is used on thousands of applications worldwide for construction, tunneling and mining projects and for emergency disaster debris removal following natural disasters such as post-tsunami, hurricane and earthquake recovery and crime scene investigations.
For more information, contact:
Darracq Shawe
Rako Products Ltd
Tel: +44 1453 829900
Fax: +44 1453 829928
sales ( @ ) rako dot co dot uk
www.rako-products.com
Louis Labuschagne
Miniveyor Africa (Pty) Limited
Tel: +27 79 5280576
Fax: +27 86 6319458
info ( @ ) miniveyorafrica dot co dot za
www.miniveyor.co.za
(1888PressRelease) October 29, 2007 - STONEHOUSE, UK — The Joint Venture company, based in the heart of the platinum mining area of Rustenburg is headed up by CEO Louis Labuschagne who brings with him a wealth of experience of mining operations and mineral extraction.
Darracq Shawe, Managing Director of Rako Products Ltd added “Miniveyor Africa builds on our experience gained in the Brazilian mining sector. The JV gives us a platform to promote our entire product range not only within the Republic but to the entire Sub-Sahara region. Although mining operations will be our main focus the construction market in the RSA is also booming with the hosting of the FIFA World Cup just around the corner”
NOTES TO EDITORS
Rako Products Ltd, whose manufacturing headquarters are based in Stonehouse U.K., specialize in equipment for confined space working and its Miniveyor conveyor system is used on thousands of applications worldwide for construction, tunneling and mining projects and for emergency disaster debris removal following natural disasters such as post-tsunami, hurricane and earthquake recovery and crime scene investigations.
For more information, contact:
Darracq Shawe
Rako Products Ltd
Tel: +44 1453 829900
Fax: +44 1453 829928
sales ( @ ) rako dot co dot uk
www.rako-products.com
Louis Labuschagne
Miniveyor Africa (Pty) Limited
Tel: +27 79 5280576
Fax: +27 86 6319458
info ( @ ) miniveyorafrica dot co dot za
www.miniveyor.co.za
Today’s Mining News-Lerala Diamond Mine commissioning
This mining news about Lerala Diamond Mine commissioning was released on Wednesday? 6 Agu 2008
DiamonEx Limited, an emerging diamond producer in Botswana, will complete the last phase of commissioning at its Lerala Diamond Mine Processing Plant this week, leading to the commencement of diamond recovery. Last phase commissioning, referred to as "hot commissioning" involves the processing of ore through the entire plant, which DiamonEx has already completed. The company is undertaking the batch feeding of ore into the plant, after which it can commence the continuous feed of ore into the plant, followed by the recovery of diamonds.
. DiamonEx Managing Director, Dan O’Neill said the commissioning process has gone well, with no major issues emerging. "It has overrun by around three weeks due to some technical issues in plant operation, but on the whole the plant has tested well."We are all very proud of what we have achieved and created, and look forward to the next challenge of optimising diamond recovery and generating cash flow," Mr O’Neill said.DiamonEx is now preparing for its first diamond sale, planned for the end of August. Under its mining lease covenants to the Botswana Government, the company must offer its goods to Botswana registered cutters and polishers. Simultaneous with the Botswana offering, DiamonEx said it will offer its goods for sale internationally in Antwerp, with the best price in a closed tender process securing the diamonds.Mr O’Neill said the diamond sale will allow DiamonEx’s Lerala Mine to join the very small list of producing hard rock diamond mines in the world, a list of less than 20 mines, and also make it the first independently owned producing diamond mine in the Republic of Botswana.
DiamonEx Limited, an emerging diamond producer in Botswana, will complete the last phase of commissioning at its Lerala Diamond Mine Processing Plant this week, leading to the commencement of diamond recovery. Last phase commissioning, referred to as "hot commissioning" involves the processing of ore through the entire plant, which DiamonEx has already completed. The company is undertaking the batch feeding of ore into the plant, after which it can commence the continuous feed of ore into the plant, followed by the recovery of diamonds.
. DiamonEx Managing Director, Dan O’Neill said the commissioning process has gone well, with no major issues emerging. "It has overrun by around three weeks due to some technical issues in plant operation, but on the whole the plant has tested well."We are all very proud of what we have achieved and created, and look forward to the next challenge of optimising diamond recovery and generating cash flow," Mr O’Neill said.DiamonEx is now preparing for its first diamond sale, planned for the end of August. Under its mining lease covenants to the Botswana Government, the company must offer its goods to Botswana registered cutters and polishers. Simultaneous with the Botswana offering, DiamonEx said it will offer its goods for sale internationally in Antwerp, with the best price in a closed tender process securing the diamonds.Mr O’Neill said the diamond sale will allow DiamonEx’s Lerala Mine to join the very small list of producing hard rock diamond mines in the world, a list of less than 20 mines, and also make it the first independently owned producing diamond mine in the Republic of Botswana.
Iran Mining News-Up to now, over $5.2b worth of foreign investments have been attracted
Up to now, over $5.2b worth of foreign investments have been attracted, said Head of Foreign Investments Organization Behrouz Alishiri.
Speaking to reporters on the sidelines of the meeting of Iran-South Africa Joint Commission for Economic, Commercial, Scientific and Technical Cooperation, he added that there is a 15%-30% gap between the actual foreign investments and the official target figure.
He underlined that in order to promote foreign investment in the country a specialized workgroup has been established and appropriate approaches have been adopted for attraction of foreign investments into projects within the mining sector.
Iran currently ranks 135th among 170 countries, worldwide, regarding foreign investment, ISNA said.
Speaking to reporters on the sidelines of the meeting of Iran-South Africa Joint Commission for Economic, Commercial, Scientific and Technical Cooperation, he added that there is a 15%-30% gap between the actual foreign investments and the official target figure.
He underlined that in order to promote foreign investment in the country a specialized workgroup has been established and appropriate approaches have been adopted for attraction of foreign investments into projects within the mining sector.
Iran currently ranks 135th among 170 countries, worldwide, regarding foreign investment, ISNA said.
WORLD EXPLORATION NEWS- DIAMOND EXPLORATION AND MINING IN NORTH AMERICA HEATING UP
This mining news is about diamond exploration in Wyoming. There is a lot of news debating and asking about Diamond exploration in North America, exactly in Wyoming. The big question about this is Could Wyoming be the next diamond-producing area in North America? Six years ago no one thought that Canada would be producing 15% of the world’s diamonds, but today it is a multi-billion dollar industry boosting Canada’s economy. According to W. Dan Hausel, Senior Economic Geologist at the Wyoming State Geological Survey (WSGS), the possibilities for Wyoming are good. Wyoming is underlain by the same kind of rocks found in Canada, and the entire state has high potential for the discovery of commercial diamond deposits. Some companies are starting to recognize these similarities, and over the past month, several companies and consultants have contacted the WSGS for information on potential diamond deposits.
Canada is now one of the world’s leading producers of gem-quality diamonds, surpassing South Africa’s production last spring. Diamond exploration in Canada is now paying huge dividends. Currently, diamonds are recovered from just two mines in the Northwest Territories. Diamond exploration has led to the discovery of 500 kimberlites (one of the principal host rocks for diamond) and proposals for four additional diamond mines before the end of the decade.
Canadian diamond production in 2003 amounted to 11.2 million carats, resulting in an industry worth $1.7 billion per year and providing hundreds of new jobs. The value of raw diamond production is dramatically increased as the rough stones are faceted by Canadian gem cutters and mounted in jewelry that is sold for more than 10 times the raw value. In other words, the Canadian economy has taken a major, multi-billion dollar boost due to mining and added hundreds of new jobs.
Why does Hausel believe Wyoming is a good target for diamond exploration? Forty diamond deposits are found in the State Line district south of Laramie, one diamond pipe occurs at Iron Mountain northwest of Cheyenne, and another diamond-bearing rock is found at Cedar Mountain in southwestern Wyoming. There have been 130,000 diamonds recovered from the State Line district including gems weighing more than 28 carats. Diamonds have also been found or reported from a number of other Wyoming localities. According to Hausel, Wyoming has an incredible number of kimberlitic indicator mineral anomalies, indicating that there could easily be hundreds of hidden deposits waiting to be found. These anomalies consist of rare minerals that are eroded from nearby diamond pipes or dikes.
Over the past 20 years, the WSGS has identified more than 300 kimberlitic indicator mineral anomalies in southeastern Wyoming alone. Finally, Wyoming contains large areas of kimberlite and lamproite, the only two rock types mined for diamond. Hausel has already mapped the two largest kimberlite districts in the U.S., and the largest lamproite field in North America.
Canada is now one of the world’s leading producers of gem-quality diamonds, surpassing South Africa’s production last spring. Diamond exploration in Canada is now paying huge dividends. Currently, diamonds are recovered from just two mines in the Northwest Territories. Diamond exploration has led to the discovery of 500 kimberlites (one of the principal host rocks for diamond) and proposals for four additional diamond mines before the end of the decade.
Canadian diamond production in 2003 amounted to 11.2 million carats, resulting in an industry worth $1.7 billion per year and providing hundreds of new jobs. The value of raw diamond production is dramatically increased as the rough stones are faceted by Canadian gem cutters and mounted in jewelry that is sold for more than 10 times the raw value. In other words, the Canadian economy has taken a major, multi-billion dollar boost due to mining and added hundreds of new jobs.
Why does Hausel believe Wyoming is a good target for diamond exploration? Forty diamond deposits are found in the State Line district south of Laramie, one diamond pipe occurs at Iron Mountain northwest of Cheyenne, and another diamond-bearing rock is found at Cedar Mountain in southwestern Wyoming. There have been 130,000 diamonds recovered from the State Line district including gems weighing more than 28 carats. Diamonds have also been found or reported from a number of other Wyoming localities. According to Hausel, Wyoming has an incredible number of kimberlitic indicator mineral anomalies, indicating that there could easily be hundreds of hidden deposits waiting to be found. These anomalies consist of rare minerals that are eroded from nearby diamond pipes or dikes.
Over the past 20 years, the WSGS has identified more than 300 kimberlitic indicator mineral anomalies in southeastern Wyoming alone. Finally, Wyoming contains large areas of kimberlite and lamproite, the only two rock types mined for diamond. Hausel has already mapped the two largest kimberlite districts in the U.S., and the largest lamproite field in North America.
Mining Investment News-Potash Mine Exploration Booming in Saskatchewan,
Potash exploration rights are selling like hot cakes in Saskatchewan, with several sites in the Regina area and nearby Belle Plaine being eyed as possible sites for new, billion dollar mines.
George Patterson, the executive director of exploration and geological services for Saskatchewan Energy and Resources said exploration permits on about 5.5 million hectares of land have been taken out provincewide by exploration companies in recent months.
That’s way up from the situation as recently as eight months ago when there were the total amount of permits that had been taken out for potash exploration only amounted to about 200,000 hectares, Patterson said.
“There certainly are a lot of permits,” Patterson commented, in a telephone interview Friday.
A combination of factors, including a tight world supply for potash and higher prices for that fertilizer product, have clearly played a role in sparking increased interest in potash exploration, Patterson said.
Among the company’s known to be interested in exploration and possible mine development, specifically in the Regina area, is Rio Tinto, the Anglo-Australian mining giant, which has acquired exploration rights to a number of blocks of property, including property east of the existing potash mine, owned by Mosaic, near Belle Plaine.
Preston Chiaro, the chief executive of energy and mineral with Rio Pinto, was quoted in a recent article in the National Post as saying the company is interested in developing projects in Argentina and Canada that would give the company 10 per cent of the world’s potash market by 2012.
Another business — the Vancouver based Potash One company — has obtained extensive exploration rights on several sections of property near Belle Plaine.
In a news release issued July 24, Potash One announced it had obtained full ownership of Potash Permit KP289 (also known as the legacy project) north of Belle Plaine.
That acquisition in conjunction with other acquisitions means the company has potash mineral rights for over 300,000 acres of property (in the general vicinity of Belle Plaine) the news release said.
In a telephone interview Friday Farhad Abasov, the senior vice-president of Potash One, said seismic and other testing of the legacy project site should occur this year.
Abasov said he is optimistic that the mine will be built, possibly within four to five years.
Total investment would be in excess of $1 billion, he said, adding that the mine would employ about 300 people.
A solution mining process would be used which would involve injecting water into the ground which would bring dissolved potash to the surface without the need for underground mining, Abasov said.
In addition to Potash One and Rio Tinto, several other players are involved in potash exploration in the province, Patterson said.
But it can be anywhere from seven to 10 years from the time initial exploration begins until a new potash mine goes into full production, Patterson said.
“These guys (buying exploration rights) are all in the preliminary exploration stage,” Patterson said.
But that exploration activity still has the potential to lead to major investment and employment in the potash industry, he said.
The new exploration activity is on top of already announced plans, valued at $7 billion to $8 billion, to expand existing potash mines in the province, Patterson said.
George Patterson, the executive director of exploration and geological services for Saskatchewan Energy and Resources said exploration permits on about 5.5 million hectares of land have been taken out provincewide by exploration companies in recent months.
That’s way up from the situation as recently as eight months ago when there were the total amount of permits that had been taken out for potash exploration only amounted to about 200,000 hectares, Patterson said.
“There certainly are a lot of permits,” Patterson commented, in a telephone interview Friday.
A combination of factors, including a tight world supply for potash and higher prices for that fertilizer product, have clearly played a role in sparking increased interest in potash exploration, Patterson said.
Among the company’s known to be interested in exploration and possible mine development, specifically in the Regina area, is Rio Tinto, the Anglo-Australian mining giant, which has acquired exploration rights to a number of blocks of property, including property east of the existing potash mine, owned by Mosaic, near Belle Plaine.
Preston Chiaro, the chief executive of energy and mineral with Rio Pinto, was quoted in a recent article in the National Post as saying the company is interested in developing projects in Argentina and Canada that would give the company 10 per cent of the world’s potash market by 2012.
Another business — the Vancouver based Potash One company — has obtained extensive exploration rights on several sections of property near Belle Plaine.
In a news release issued July 24, Potash One announced it had obtained full ownership of Potash Permit KP289 (also known as the legacy project) north of Belle Plaine.
That acquisition in conjunction with other acquisitions means the company has potash mineral rights for over 300,000 acres of property (in the general vicinity of Belle Plaine) the news release said.
In a telephone interview Friday Farhad Abasov, the senior vice-president of Potash One, said seismic and other testing of the legacy project site should occur this year.
Abasov said he is optimistic that the mine will be built, possibly within four to five years.
Total investment would be in excess of $1 billion, he said, adding that the mine would employ about 300 people.
A solution mining process would be used which would involve injecting water into the ground which would bring dissolved potash to the surface without the need for underground mining, Abasov said.
In addition to Potash One and Rio Tinto, several other players are involved in potash exploration in the province, Patterson said.
But it can be anywhere from seven to 10 years from the time initial exploration begins until a new potash mine goes into full production, Patterson said.
“These guys (buying exploration rights) are all in the preliminary exploration stage,” Patterson said.
But that exploration activity still has the potential to lead to major investment and employment in the potash industry, he said.
The new exploration activity is on top of already announced plans, valued at $7 billion to $8 billion, to expand existing potash mines in the province, Patterson said.
Mining News-Baffinland Resumes Full Ore Haulage of Bulk Sample Program
TORONTO, ONTARIO–(MARKET WIRE)–Aug 5, 2008 — Baffinland Iron Mines Corporation (”Baffinland” or the “Company”)(Toronto:BIM.TO - News) announced today that it has resumed full ore haulage operations associated with the shipment of the bulk sample (the “Bulk Sample Program”) between Mary River and Milne Inlet on the tote road.
Since resuming the ore haul during late July, an additional 12,000 tonnes of high grade iron ore have been hauled to the Milne Inlet stockpile. Completion of the tote road remediation program was consistent with the schedule assumptions made in association with the revised bulk sample program. Haulage road access has also been reestablished to Deposit No. 1 and drilling, blasting, and crushing operations are expected to resume early this week. The company is on track to meeting the revised bulk sample shipment targets.
Baffinland previously announced revised targets for the shipment of high grade iron ore under its Bulk Sample Program from its Mary River deposit on Baffin Island to key European blast furnace operators in 2008. Baffinland anticipates the shipment of between 120,000 tonnes and 150,000 tonnes of iron ore to be shipped to steelmakers in three trial cargos, of which two will be lump and one of iron ore fines.
The haulage and stevedoring equipment required to complete the bulk sample are on site, and a bulk carrier, the Federal Franklin, managed by Fednav Limited, has been nominated to deliver two ore cargos to Europe. Fednav will be nominating a second vessel in the near future. Ship loading arrangements have now been scheduled with these parties and discharge port arrangements are under discussion with customers in Europe.
Gordon McCreary, President and CEO, indicated, “We are pleased to announce the resumption of ore haulage on the upgraded tote road and are confident that the revised targets, and the original objectives, associated with our bulk sample program will all be met.”
Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada.
This press release contains certain information that may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to management’s future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements made about the mining of the bulk sample and the shipment of bulk sample ore to Europe, the anticipated completion of the bulk sample technical objectives, statements concerning progress, execution, completion and planning developments associated with the bulk sample including timing and amount of ore shipped, and statements that the Company is on track to meeting the revised bulk sample shipment targets and that the revised bulk sample target will meet program objectives, and that 120,000 to 150,000 tonnes of ore will be shipped in three cargos in 2008, and statements made regarding the ratio of lump ore to iron ore fines, are forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, expected mineral resources, iron ore prices, the timing and amount of future exploration expenditures, the estimation of additional capital requirements and initial capital costs, the availability of necessary financing and materials, the receipt of necessary regulatory approvals, the feasibility of constructing and operating a direct-shipping iron ore mine at Baffinland’s Mary River project and assumptions with respect to environmental risks, title disputes or claims, weather conditions and other similar matters. Without limitation, when stating that the Company is on track to meeting the revised bulk sample shipment targets, that the Company anticipates shipping 120,000 to 150,000 tonnes of ore to European steelmakers in three cargos, and that two cargos will be lump ore and one cargo will be iron ore fines, the Company has assumed that the ore haulage will progress at a rate of 2,000 tonnes per day, that mechanical availability on the truck haulage fleet will average 75%, that past proven drilling, blasting and crushing rates will be maintained until completion of the bulk sample, that Fednav Limited will supply, load and ship the three loads of high grade ore and that this will be accomplished before freeze up and that freeze up will occur as per historical timelines. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks inherent in the exploration and development of mineral deposits, risks relating to changes in iron ore prices and the worldwide demand for and supply of iron ore, uncertainties inherent in the estimation of mineral reserves and resources, risks relating to the remoteness of the Mary River property including access and supply risks, reliance on key personnel, construction and operational risks inherent in the conduct of mining activities, including the risk of changes in capital and operation costs, regulatory risks, including risks relating to the acquisition of the necessary licences and permits, financing, capitalization and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all, environmental risks and insurance risks. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time.
Contact:
Contacts:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
(416) 814-3163
Baffinland Iron Mines Corporation
Rodney A. Cooper
Vice President, Operations and COO
(416) 814-3158
Email: info@baffinland.com
Website: http://www.baffinland.com
Source: Baffinland Iron Mines Corporation
Since resuming the ore haul during late July, an additional 12,000 tonnes of high grade iron ore have been hauled to the Milne Inlet stockpile. Completion of the tote road remediation program was consistent with the schedule assumptions made in association with the revised bulk sample program. Haulage road access has also been reestablished to Deposit No. 1 and drilling, blasting, and crushing operations are expected to resume early this week. The company is on track to meeting the revised bulk sample shipment targets.
Baffinland previously announced revised targets for the shipment of high grade iron ore under its Bulk Sample Program from its Mary River deposit on Baffin Island to key European blast furnace operators in 2008. Baffinland anticipates the shipment of between 120,000 tonnes and 150,000 tonnes of iron ore to be shipped to steelmakers in three trial cargos, of which two will be lump and one of iron ore fines.
The haulage and stevedoring equipment required to complete the bulk sample are on site, and a bulk carrier, the Federal Franklin, managed by Fednav Limited, has been nominated to deliver two ore cargos to Europe. Fednav will be nominating a second vessel in the near future. Ship loading arrangements have now been scheduled with these parties and discharge port arrangements are under discussion with customers in Europe.
Gordon McCreary, President and CEO, indicated, “We are pleased to announce the resumption of ore haulage on the upgraded tote road and are confident that the revised targets, and the original objectives, associated with our bulk sample program will all be met.”
Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada.
This press release contains certain information that may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to management’s future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements made about the mining of the bulk sample and the shipment of bulk sample ore to Europe, the anticipated completion of the bulk sample technical objectives, statements concerning progress, execution, completion and planning developments associated with the bulk sample including timing and amount of ore shipped, and statements that the Company is on track to meeting the revised bulk sample shipment targets and that the revised bulk sample target will meet program objectives, and that 120,000 to 150,000 tonnes of ore will be shipped in three cargos in 2008, and statements made regarding the ratio of lump ore to iron ore fines, are forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, expected mineral resources, iron ore prices, the timing and amount of future exploration expenditures, the estimation of additional capital requirements and initial capital costs, the availability of necessary financing and materials, the receipt of necessary regulatory approvals, the feasibility of constructing and operating a direct-shipping iron ore mine at Baffinland’s Mary River project and assumptions with respect to environmental risks, title disputes or claims, weather conditions and other similar matters. Without limitation, when stating that the Company is on track to meeting the revised bulk sample shipment targets, that the Company anticipates shipping 120,000 to 150,000 tonnes of ore to European steelmakers in three cargos, and that two cargos will be lump ore and one cargo will be iron ore fines, the Company has assumed that the ore haulage will progress at a rate of 2,000 tonnes per day, that mechanical availability on the truck haulage fleet will average 75%, that past proven drilling, blasting and crushing rates will be maintained until completion of the bulk sample, that Fednav Limited will supply, load and ship the three loads of high grade ore and that this will be accomplished before freeze up and that freeze up will occur as per historical timelines. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks inherent in the exploration and development of mineral deposits, risks relating to changes in iron ore prices and the worldwide demand for and supply of iron ore, uncertainties inherent in the estimation of mineral reserves and resources, risks relating to the remoteness of the Mary River property including access and supply risks, reliance on key personnel, construction and operational risks inherent in the conduct of mining activities, including the risk of changes in capital and operation costs, regulatory risks, including risks relating to the acquisition of the necessary licences and permits, financing, capitalization and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all, environmental risks and insurance risks. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time.
Contact:
Contacts:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
(416) 814-3163
Baffinland Iron Mines Corporation
Rodney A. Cooper
Vice President, Operations and COO
(416) 814-3158
Email: info@baffinland.com
Website: http://www.baffinland.com
Source: Baffinland Iron Mines Corporation
Thursday, August 7, 2008
Top oil News-Iran says oil could reach $500 on dollar, politics
This news on oil price was released on Sat Jul 26, 6:43 AM ET.
TEHRAN (Reuters) - Iran’s OPEC governor said world oil prices could reach as high as $500 per barrel in a few years’ time if the dollar falls further and political tension worsens, an Iranian weekly said.
“If the dollar’s value continues to decrease and if the political crisis becomes worse, the oil price would reach up to $500,” Mohammad Ali Khatibi told Shahrvand-e Emrooz in an interview published on Saturday.
He was asked about predictions that oil prices could reach up to $200 per barrel in the next two or three years.
Oil dropped $2 to a fresh seven-week low on Friday, extending a decline that has knocked more than $24 off crude in two weeks as high fuel prices continue to batter demand.
Crude prices reached an all-time peak of $147 earlier this month.
Khatibi also said oil exports from the whole Middle East region would be at risk if the Islamic state came under any military attack over its disputed nuclear programme.
“If there is another war in the region, it will not only be Iran’s oil not reaching the market, but rather the oil of the whole region would be cut from the market,” Khatibi said.
“In that case, we will not have a price rise. We will have a price explosion.”
Around 40 percent of global oil shipments leave the Gulf through the Strait of Hormuz off Iran’s southern coast and Tehran has threatened to impose controls on shipping there if it is attacked, and warned Gulf neighbors of reprisals if they took part.
The United States and Iran are at loggerheads over Tehran’s disputed nuclear work. Washington says it wants a diplomatic solution to the row, but has not ruled out military action if that were to fail.
Tehran says its atomic activities are purely peaceful, aimed at generating electricity.
(Reporting by Zahra Hosseinian; Editing by David Christian-Edwards)
TEHRAN (Reuters) - Iran’s OPEC governor said world oil prices could reach as high as $500 per barrel in a few years’ time if the dollar falls further and political tension worsens, an Iranian weekly said.
“If the dollar’s value continues to decrease and if the political crisis becomes worse, the oil price would reach up to $500,” Mohammad Ali Khatibi told Shahrvand-e Emrooz in an interview published on Saturday.
He was asked about predictions that oil prices could reach up to $200 per barrel in the next two or three years.
Oil dropped $2 to a fresh seven-week low on Friday, extending a decline that has knocked more than $24 off crude in two weeks as high fuel prices continue to batter demand.
Crude prices reached an all-time peak of $147 earlier this month.
Khatibi also said oil exports from the whole Middle East region would be at risk if the Islamic state came under any military attack over its disputed nuclear programme.
“If there is another war in the region, it will not only be Iran’s oil not reaching the market, but rather the oil of the whole region would be cut from the market,” Khatibi said.
“In that case, we will not have a price rise. We will have a price explosion.”
Around 40 percent of global oil shipments leave the Gulf through the Strait of Hormuz off Iran’s southern coast and Tehran has threatened to impose controls on shipping there if it is attacked, and warned Gulf neighbors of reprisals if they took part.
The United States and Iran are at loggerheads over Tehran’s disputed nuclear work. Washington says it wants a diplomatic solution to the row, but has not ruled out military action if that were to fail.
Tehran says its atomic activities are purely peaceful, aimed at generating electricity.
(Reporting by Zahra Hosseinian; Editing by David Christian-Edwards)
Mining News-Report the Price of Result Mine Exploration in Asian Market : Oil Prices Increase to Near $130 a barel in Asia
Oil prices rose on Monday in Asia to near $130 on concerns that the threat of new sanctions against Iran over its nuclear program may escalate tensions in the oil-rich Gulf region.
Talks on Saturday ended with Iran stonewalling Washington and five other world powers on their call to freeze uranium enrichment. In response, the six gave Iran two weeks to respond to their demand, setting the stage for a new round of U.N. sanctions.
The U.S. sent Undersecretary of State William Burns to the talks in hopes the first-time American presence would encourage Tehran into making concessions. But the talks’ lack of progress may lead to “further isolation” for Iran, the U.S. spokesman said.
Iran state radio quoted President Mahmoud Ahmadinejad as saying the talks were “a step ahead.”
“The talks didn’t resolve the problem of Iran’s nuclear program, and that has been a factor in prices ticking higher today,” said David Moore, a commodity strategist with Commonwealth Bank of Australia in Sydney. “Part of the reason prices had fallen recently was on the expectation a deal could be made there.”
Midday in Singapore, light, sweet crude for August delivery was up 70 cents at $129.58 a barrel in electronic trading on the New York Mercantile Exchange. The price increase Monday came after crude fell more than $17 a barrel from a record high of $147.27 on July 11.
Prices also rose on concerns that Tropical Storm Dolly may distrupt oil operations in the Gulf of Mexico, Moore said.
The storm drenched Mexico’s Yucatan Peninsula and was expected to reach the Gulf of Mexico Monday afternoon packing sustained winds near 50 mph.
“Over the next 12 to 18 months we expect prices to fall on demand side adjustments to the high prices,” Moore said. “But there are certainly chances for short-term spikes with issues such as Iran or storms.”
In other Nymex trade, heating oil futures rose 2.5 cents to $3.7175 a gallon (3.8 liters) while gasoline prices rose 1.91 cents to $3.19 a gallon. Natural gas futures rose 14.8 cents to $10.718 per 1,000 cubic feet.
FIND MORE :
· Russia’s Leading Uranium Miner To Set Up JV With France’s Areva
· Mine Drilling Project Raytec’s Athabasca Uranium Projects
Talks on Saturday ended with Iran stonewalling Washington and five other world powers on their call to freeze uranium enrichment. In response, the six gave Iran two weeks to respond to their demand, setting the stage for a new round of U.N. sanctions.
The U.S. sent Undersecretary of State William Burns to the talks in hopes the first-time American presence would encourage Tehran into making concessions. But the talks’ lack of progress may lead to “further isolation” for Iran, the U.S. spokesman said.
Iran state radio quoted President Mahmoud Ahmadinejad as saying the talks were “a step ahead.”
“The talks didn’t resolve the problem of Iran’s nuclear program, and that has been a factor in prices ticking higher today,” said David Moore, a commodity strategist with Commonwealth Bank of Australia in Sydney. “Part of the reason prices had fallen recently was on the expectation a deal could be made there.”
Midday in Singapore, light, sweet crude for August delivery was up 70 cents at $129.58 a barrel in electronic trading on the New York Mercantile Exchange. The price increase Monday came after crude fell more than $17 a barrel from a record high of $147.27 on July 11.
Prices also rose on concerns that Tropical Storm Dolly may distrupt oil operations in the Gulf of Mexico, Moore said.
The storm drenched Mexico’s Yucatan Peninsula and was expected to reach the Gulf of Mexico Monday afternoon packing sustained winds near 50 mph.
“Over the next 12 to 18 months we expect prices to fall on demand side adjustments to the high prices,” Moore said. “But there are certainly chances for short-term spikes with issues such as Iran or storms.”
In other Nymex trade, heating oil futures rose 2.5 cents to $3.7175 a gallon (3.8 liters) while gasoline prices rose 1.91 cents to $3.19 a gallon. Natural gas futures rose 14.8 cents to $10.718 per 1,000 cubic feet.
FIND MORE :
· Russia’s Leading Uranium Miner To Set Up JV With France’s Areva
· Mine Drilling Project Raytec’s Athabasca Uranium Projects
Mining News-‘Mining For Money’ At The InvestorIdeas.com Online Mining And Resource Investor Conference Starting September 19th
Online Audio Event to Showcase Top Industry Experts Peter Grandich, Lawrence Roulston and Kitco’s Jon Nadler Discussing Investment Opportunities within the Resource Sector
(1888PressRelease) August 08, 2007 - POINT ROBERTS, WA and DELTA, BC – www.InvestorIdeas.com, and its mining portals update the list of participants for the upcoming online mining & resource conference taking place on September 19th. This popular online event provides investors with free registration and an educational experience to better understand trends and movements with the resource sector. Participating industry experts and public companies will discuss trends and market opportunities to include gold, silver, copper, uranium, diamonds and other key segments within the resource sector.
The format for the online conference will consist of audio and visual presentations averaging 15-20 minutes in length. Investors can register at: http://www.investorideas.com/forums/Register.aspx
Current Conference Participants Include:
• Martha Buckwalter-Davis, Research Associate - Mining & Energy, Fundamental Research Corp. www.researchfrc.com
• Peter Grandich, Founder, Grandich Publications, LLC www.Grandich.com
• Jon Nadler, Senior Analyst, Kitco Inc. www.Kitco.com
• Lawrence Roulston, Resource Opportunities www.resourceopportunities.com
• Nayarit Gold Inc.(TSX.V: NYG) is a Canadian gold and silver exploration company formed in May, 2005. The Company controls over 102,000 hectares of mining concessions in the State of Nayarit, Mexico. Nayarit Gold Inc.’s management team consists of highly experienced mining and financial professionals. The Company is focused on its 7,000 metre Phase One drill program, and will apply a systematic drill program to its high quality asset. Management’s strategy is to build Nayarit Gold Inc. into a profitable resource company and maximize shareholder value through exploration of its high quality mining properties in the State of Nayarit, Mexico. The Company is committed to working with the government and people of Mexico to achieve a modern and sustainable mining region. The Company follows best practices in health and safety, environmental and community engagement. www.nayaritgold.com
To learn more about the upcoming Mining and Resource Conference visit:
http://www.investorideas.com/forums/Portals/resources2.aspx
About our Mining Portals:
www.Gold-MiningStocks.com and www.MiningSectorStocks.com, portals within the InvestorIdeas.com® content umbrella, do not make recommendations, but feature industry and stock news, exclusive articles and financial columnists, audio interviews and Podcasts, investor conferences, Blogs, and a directory of stocks in the sector. Industry participants are invited to submit news, articles and research:
http://www.gold-miningstocks.com/NewsUploader/Submission.aspx
Conference Disclaimer: InvestorIdeas.com is paid a one-time fee of $1000, by participating public companies (groups of multiple presenters may be discounted). All descriptions are provided by participants. All companies agree to adhere to regulatory policies.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. Investorideas.com is compensated by featured companies, news submissions and online advertising
www.InvestorIdeas.com/About/Disclaimer.asp
For Additional Information on Participating in this Upcoming Online Conference Please Contact:
Dawn Van Zant: 800-665-0411 - dvanzant ( @ ) investorideas dot com
Ann-Marie Fleming: 866-725-2554 - afleming ( @ ) investorideas dot com
Source: InvestorIdeas.com
(1888PressRelease) August 08, 2007 - POINT ROBERTS, WA and DELTA, BC – www.InvestorIdeas.com, and its mining portals update the list of participants for the upcoming online mining & resource conference taking place on September 19th. This popular online event provides investors with free registration and an educational experience to better understand trends and movements with the resource sector. Participating industry experts and public companies will discuss trends and market opportunities to include gold, silver, copper, uranium, diamonds and other key segments within the resource sector.
The format for the online conference will consist of audio and visual presentations averaging 15-20 minutes in length. Investors can register at: http://www.investorideas.com/forums/Register.aspx
Current Conference Participants Include:
• Martha Buckwalter-Davis, Research Associate - Mining & Energy, Fundamental Research Corp. www.researchfrc.com
• Peter Grandich, Founder, Grandich Publications, LLC www.Grandich.com
• Jon Nadler, Senior Analyst, Kitco Inc. www.Kitco.com
• Lawrence Roulston, Resource Opportunities www.resourceopportunities.com
• Nayarit Gold Inc.(TSX.V: NYG) is a Canadian gold and silver exploration company formed in May, 2005. The Company controls over 102,000 hectares of mining concessions in the State of Nayarit, Mexico. Nayarit Gold Inc.’s management team consists of highly experienced mining and financial professionals. The Company is focused on its 7,000 metre Phase One drill program, and will apply a systematic drill program to its high quality asset. Management’s strategy is to build Nayarit Gold Inc. into a profitable resource company and maximize shareholder value through exploration of its high quality mining properties in the State of Nayarit, Mexico. The Company is committed to working with the government and people of Mexico to achieve a modern and sustainable mining region. The Company follows best practices in health and safety, environmental and community engagement. www.nayaritgold.com
To learn more about the upcoming Mining and Resource Conference visit:
http://www.investorideas.com/forums/Portals/resources2.aspx
About our Mining Portals:
www.Gold-MiningStocks.com and www.MiningSectorStocks.com, portals within the InvestorIdeas.com® content umbrella, do not make recommendations, but feature industry and stock news, exclusive articles and financial columnists, audio interviews and Podcasts, investor conferences, Blogs, and a directory of stocks in the sector. Industry participants are invited to submit news, articles and research:
http://www.gold-miningstocks.com/NewsUploader/Submission.aspx
Conference Disclaimer: InvestorIdeas.com is paid a one-time fee of $1000, by participating public companies (groups of multiple presenters may be discounted). All descriptions are provided by participants. All companies agree to adhere to regulatory policies.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. Investorideas.com is compensated by featured companies, news submissions and online advertising
www.InvestorIdeas.com/About/Disclaimer.asp
For Additional Information on Participating in this Upcoming Online Conference Please Contact:
Dawn Van Zant: 800-665-0411 - dvanzant ( @ ) investorideas dot com
Ann-Marie Fleming: 866-725-2554 - afleming ( @ ) investorideas dot com
Source: InvestorIdeas.com
Mining News-Gemini Explorations, Inc. Updates Overview Of La Planada Gold Project
Gold Trading at $735/oz. Presents Potential $2,310,000,000 World Class Gold Deposit
Miami, FL (1888PressRelease) September 25, 2007 - Gemini Explorations, Inc (”Gemini”) (OTC BB:GXPI.OB - News) is pleased to release an updated overview of its wholly owned La Planada Gold Project as prepared by Carlos Alberto Vera, Chief Geologist of Minera Primecap Geological Services. The detailed update below supports that over 3,150,000 troy ounces of gold or a gross deposit value of approximately $2,310,000,000 with gold presently trading at $735 per ounce are possible from the La Planada Project.
The La Planada property is located in the municipality of Sotomayor, department of the Nariño, in south western Colombia. Access to the property is approximately 80 km from Pasto, the capital city of the Nariño department, by open road. The project has an exploitation (mining) license (#17486) for a period of 10 years and is renewable for an additional 10 years.
La Planada property is composed of Dagua Group Upper Cretaceous quartzites and siliceous siltstones intruded by a granodiorite plug. Surface exposure is excellent and there were numerous workings at various elevations that can be roughly traced from one elevation to another. The width of the zone (i.e. within the property boundaries) appears much greater than other surrounding properties. There are at least 3 different crosscutting vein sets. The principal vein ranges between 0.4 m and 2.0 m in width. Other veins range between 3 and 20 cm (or more) in width. All carry some sulphides, and free gold was seen in both quartz and with the sulphides. Disseminated sulphides were seen in the host rock sediments, and these will probably contain low-grade gold values, although these have yet to be lab verified. Samples should be taken from two newly reported workings, and of mixed vein and host rock material and it is anticipated that there will be good values gotten from the vein and sulphide material. Panned concentrates from both vein material and tailings showed fine to medium gold.
Assuming the average grade across host rock and vein material on La Planada produces a grade similar to that of surrounding properties there is every reason to think that the deposit could be processed by bulk mining of the entire zone. The ore would be processed using the same method, and probably the same plant, as that proposed for surrounding properties.
The entire La Planada property has excellent rock exposure. The surface could be stripped and then, samples could be taken in vertical channels across both vein and host rock. A series of small drill pads would have to be prepared on the surface of the deposit. They would be collared at 50 m intervals along that line. As drilling progressed more of that face would have to be cleared of vegetation and levelled and a parallel series of pads would have to be built 50 m on either side of the original line of holes. This work will require some blasting of rock to produce those pads. Vertical reverse circulation holes would be drilled from these pads, with holes ranging up to 200 m in depth (if capable) at highest elevation and 100 m in depth at lowest elevation, for a total depth of this first phase of drilling of roughly 1000 m. Dependent on recovery of material, samples would be taken every 2 to 5 m down each hole. Samples would be analyzed for gold by Fire Assay, with A.A. or gravimetric finish. This work will allow an estimate of grade and tonnage for La Planada Project.
Most of the gold is fine. Upon completion of at least an initial round of drilling and assuming favourable results for grade of material, a bench test would be required to determine fineness of the gold, amount of sulphides and what metals are present, and from that what type of processing plant would give the best gold recovery. If there is sufficient coarse gold, a coarse gold circuit (e.g. a vibrating table) would probably be set up. If there is significant gold carried on the surface of sulphides then a sulphide floatation circuit would also be required. However, the bulk of the gold is fine and low grade (1.5 to 4 g/tonne) and is expected to be recovered with a large heap leach pad. Assuming the average grade of 1.5 to 4g/tonne and that sampling to date confirms continuity of mineralization to a depth of 200m, then the entire block could be mined and processed. A block 200 m deep X 300m wide X 400 m long, with an average density of 2.45g/cc would produce 59 millions tonnes of ore with a cut-off grade of 1.5g/tonne gold. That translates to over 3,150,000 troy ounces of gold or a gross deposit value of approximately $2,310,000,000 with gold presently trading at $735 per ounce.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that although Gemini Explorations, Inc believes the La Planada Gold Project has promising potential, the property is in the early stages of exploration. The project has yet to be shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on the property, or that, if identified, mineralization may be economically extracted. Minera Primecap Geological Services does not accept responsibility for the use of project data or in the adequacy or accuracy of this release.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2005 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Miami, FL (1888PressRelease) September 25, 2007 - Gemini Explorations, Inc (”Gemini”) (OTC BB:GXPI.OB - News) is pleased to release an updated overview of its wholly owned La Planada Gold Project as prepared by Carlos Alberto Vera, Chief Geologist of Minera Primecap Geological Services. The detailed update below supports that over 3,150,000 troy ounces of gold or a gross deposit value of approximately $2,310,000,000 with gold presently trading at $735 per ounce are possible from the La Planada Project.
The La Planada property is located in the municipality of Sotomayor, department of the Nariño, in south western Colombia. Access to the property is approximately 80 km from Pasto, the capital city of the Nariño department, by open road. The project has an exploitation (mining) license (#17486) for a period of 10 years and is renewable for an additional 10 years.
La Planada property is composed of Dagua Group Upper Cretaceous quartzites and siliceous siltstones intruded by a granodiorite plug. Surface exposure is excellent and there were numerous workings at various elevations that can be roughly traced from one elevation to another. The width of the zone (i.e. within the property boundaries) appears much greater than other surrounding properties. There are at least 3 different crosscutting vein sets. The principal vein ranges between 0.4 m and 2.0 m in width. Other veins range between 3 and 20 cm (or more) in width. All carry some sulphides, and free gold was seen in both quartz and with the sulphides. Disseminated sulphides were seen in the host rock sediments, and these will probably contain low-grade gold values, although these have yet to be lab verified. Samples should be taken from two newly reported workings, and of mixed vein and host rock material and it is anticipated that there will be good values gotten from the vein and sulphide material. Panned concentrates from both vein material and tailings showed fine to medium gold.
Assuming the average grade across host rock and vein material on La Planada produces a grade similar to that of surrounding properties there is every reason to think that the deposit could be processed by bulk mining of the entire zone. The ore would be processed using the same method, and probably the same plant, as that proposed for surrounding properties.
The entire La Planada property has excellent rock exposure. The surface could be stripped and then, samples could be taken in vertical channels across both vein and host rock. A series of small drill pads would have to be prepared on the surface of the deposit. They would be collared at 50 m intervals along that line. As drilling progressed more of that face would have to be cleared of vegetation and levelled and a parallel series of pads would have to be built 50 m on either side of the original line of holes. This work will require some blasting of rock to produce those pads. Vertical reverse circulation holes would be drilled from these pads, with holes ranging up to 200 m in depth (if capable) at highest elevation and 100 m in depth at lowest elevation, for a total depth of this first phase of drilling of roughly 1000 m. Dependent on recovery of material, samples would be taken every 2 to 5 m down each hole. Samples would be analyzed for gold by Fire Assay, with A.A. or gravimetric finish. This work will allow an estimate of grade and tonnage for La Planada Project.
Most of the gold is fine. Upon completion of at least an initial round of drilling and assuming favourable results for grade of material, a bench test would be required to determine fineness of the gold, amount of sulphides and what metals are present, and from that what type of processing plant would give the best gold recovery. If there is sufficient coarse gold, a coarse gold circuit (e.g. a vibrating table) would probably be set up. If there is significant gold carried on the surface of sulphides then a sulphide floatation circuit would also be required. However, the bulk of the gold is fine and low grade (1.5 to 4 g/tonne) and is expected to be recovered with a large heap leach pad. Assuming the average grade of 1.5 to 4g/tonne and that sampling to date confirms continuity of mineralization to a depth of 200m, then the entire block could be mined and processed. A block 200 m deep X 300m wide X 400 m long, with an average density of 2.45g/cc would produce 59 millions tonnes of ore with a cut-off grade of 1.5g/tonne gold. That translates to over 3,150,000 troy ounces of gold or a gross deposit value of approximately $2,310,000,000 with gold presently trading at $735 per ounce.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that although Gemini Explorations, Inc believes the La Planada Gold Project has promising potential, the property is in the early stages of exploration. The project has yet to be shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on the property, or that, if identified, mineralization may be economically extracted. Minera Primecap Geological Services does not accept responsibility for the use of project data or in the adequacy or accuracy of this release.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2005 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
World Mining News:Gold exploration project for Trundle
18/07/2008 9:41:00 AM
The Parkes Shire may be in for another mining boom following the announcement of an exploratry project at a property near Trundle.
Robert Brown, President and CEO of Calibre Mining Corporation announced this week that the Canadian company has initiated a 7-hole 3,700 metre diamond drill program.
The Trundle property is a 78-square kilometre tenement immediately adjacent to the township.
A mine near Turndle would add to the Northparkes copper-gold district that has produced 864,500 ounces of gold and 616,400 tonnes of copper.
Calibre is earning a 70 per cent interest in the Trundle tenement from Western Plains Resources Ltd by completing exploration expenditures totalling AU$3 million over a three-year period with a minimum work commitment of $600,000 in the first year.
Calibre can earn an additional 20per cent interest in the project by completing a Feasibility Report.
Trundle contains widespread evidence of porphyry and skarn-style copper-gold mineralisation associated with several discrete intrusive centers.
Historical shallow rotary air blast and air core drilling on four of these centres confirmed the presence of copper and gold mineralisation coincident with skarn and porphyry-style alteration and airborne magnetic highs.
GOS Drilling of Cobar has been contracted to carry out a 3,700 metre diamond drilling program.
The program focuses on the northern targets of Mordialloc, Bloomfields and Yarrabandai and is designed to test targets at depth (greater than 500m) for high grade porphyry Cu-Au mineralisation.
The Parkes Shire may be in for another mining boom following the announcement of an exploratry project at a property near Trundle.
Robert Brown, President and CEO of Calibre Mining Corporation announced this week that the Canadian company has initiated a 7-hole 3,700 metre diamond drill program.
The Trundle property is a 78-square kilometre tenement immediately adjacent to the township.
A mine near Turndle would add to the Northparkes copper-gold district that has produced 864,500 ounces of gold and 616,400 tonnes of copper.
Calibre is earning a 70 per cent interest in the Trundle tenement from Western Plains Resources Ltd by completing exploration expenditures totalling AU$3 million over a three-year period with a minimum work commitment of $600,000 in the first year.
Calibre can earn an additional 20per cent interest in the project by completing a Feasibility Report.
Trundle contains widespread evidence of porphyry and skarn-style copper-gold mineralisation associated with several discrete intrusive centers.
Historical shallow rotary air blast and air core drilling on four of these centres confirmed the presence of copper and gold mineralisation coincident with skarn and porphyry-style alteration and airborne magnetic highs.
GOS Drilling of Cobar has been contracted to carry out a 3,700 metre diamond drilling program.
The program focuses on the northern targets of Mordialloc, Bloomfields and Yarrabandai and is designed to test targets at depth (greater than 500m) for high grade porphyry Cu-Au mineralisation.
Press Release on Diamond Exploration Program Commences At Pellatt Lake, Second Large Diameter RC And Third Core Rig Arrive At DO-27
Today, there are many news telling about diamond exploration. The news tells that there are now many places consisting of diamond. Thus, the activities of diamond drilling are now increasing. One of the news about Diamond exploration and drilling was released on February 24, 2006 - Vancouver, Canada - Peregrine Diamonds Ltd. (”Peregrine”) (TSX-V: PGD) today announced the commencement of the 2006 diamond exploration program at the Pellatt Lake Project, NWT, Canada. In addition, Peregrine announced that the second large diameter (24″) reverse circulation (”RC”) rig and the third core rig have arrived at the DO-27 kimberlite, WO Diamond Project, NWT, Canada.
Pellatt Lake Project
The Pellatt Lake Project comprises twenty-eight mineral claims covering 72,310 acres, located 42 km to the northeast of BHP Billiton’s Ekati™ Diamond Mine.
Work by previous operators on the property included airborne electromagnetic and magnetic surveys and heavy mineral sampling. Kimberlite indicator minerals have been recovered over much of the property, many with no known source. Previous diamond drilling intersected one kimberlite, PL01. In 2004, Peregrine flew a Falcontm gravity gradiometer survey over the property and in 2005 collected additional heavy mineral samples resulting in the identification of a number of anomalies. For the 2006 program, at least 12 anomalies will be covered with ground geophysical surveys (magnetics and HLEM). A drill will be mobilized to site during mid-March, and drilling will be completed on a number of targets.
Seven of the Pellatt claims are in joint venture with Dentonia Resources Ltd., 6 others are in joint venture with DHK Diamonds Inc. (in both instances Peregrine can earn up to 75% under certain conditions) and the remaining 16 claims are held 100% by Peregrine.
DO-27 Project
Careful advanced planning and logistics work by Peregrine at DO-27 in 2005 has resulted in all five scheduled drill rigs and auxiliary equipment arriving on-site at the DO-27 kimberlite in a timely manner in spite of unseasonably warm weather in Canada’s North which has had a detrimental effect on the main Contwoyto to Tibbitt Ice Road, delaying equipment and supplies transportation for numerous mining, exploration and services companies. Bulk sample and geological drilling is continuing at DO-27, and updates will be provided as the program progresses.
Peregrine is a well funded Canadian diamond exploration/development company that is managed by experienced geoscientists. The company is taking the plus 9 hectare DO-27 diamondiferous kimberlite into pre-feasibility, and is exploring for other diamondiferous kimberlites on its extensive land holdings in Canada. The company trades on the TSX-V Exchange under the symbol “PGD”.
Peregrine Diamonds Ltd.
Eric Friedland, President and CEO
Alan Carter, COO
Pellatt Lake Project
The Pellatt Lake Project comprises twenty-eight mineral claims covering 72,310 acres, located 42 km to the northeast of BHP Billiton’s Ekati™ Diamond Mine.
Work by previous operators on the property included airborne electromagnetic and magnetic surveys and heavy mineral sampling. Kimberlite indicator minerals have been recovered over much of the property, many with no known source. Previous diamond drilling intersected one kimberlite, PL01. In 2004, Peregrine flew a Falcontm gravity gradiometer survey over the property and in 2005 collected additional heavy mineral samples resulting in the identification of a number of anomalies. For the 2006 program, at least 12 anomalies will be covered with ground geophysical surveys (magnetics and HLEM). A drill will be mobilized to site during mid-March, and drilling will be completed on a number of targets.
Seven of the Pellatt claims are in joint venture with Dentonia Resources Ltd., 6 others are in joint venture with DHK Diamonds Inc. (in both instances Peregrine can earn up to 75% under certain conditions) and the remaining 16 claims are held 100% by Peregrine.
DO-27 Project
Careful advanced planning and logistics work by Peregrine at DO-27 in 2005 has resulted in all five scheduled drill rigs and auxiliary equipment arriving on-site at the DO-27 kimberlite in a timely manner in spite of unseasonably warm weather in Canada’s North which has had a detrimental effect on the main Contwoyto to Tibbitt Ice Road, delaying equipment and supplies transportation for numerous mining, exploration and services companies. Bulk sample and geological drilling is continuing at DO-27, and updates will be provided as the program progresses.
Peregrine is a well funded Canadian diamond exploration/development company that is managed by experienced geoscientists. The company is taking the plus 9 hectare DO-27 diamondiferous kimberlite into pre-feasibility, and is exploring for other diamondiferous kimberlites on its extensive land holdings in Canada. The company trades on the TSX-V Exchange under the symbol “PGD”.
Peregrine Diamonds Ltd.
Eric Friedland, President and CEO
Alan Carter, COO
World Mining News-Big Red Diamond Corporation Submission for Relisting & New Board and Management Submitted to TSX-V
One of the biggest diamond companies is ever is Big Red Diamond Corporation. The news tells that BRDC is now publishing the new status of the company. It seems that BRDC wants to have something better for the company’s progress. BRDC considers that updating of the company and its status is one of the ways to make the company more exist in the diamond market competition. The news telling about the new status of BRDC was first released in Montreal,on January 18, 2008. The news states that - Big Red Diamond Corporation (TSX-V: “DIA”-suspended) is pleased to provide an update on the Company and its status.
The Company Big Red Diamond Corporation (BRDC or the Company) is pleased to announce that it has submitted a request for removal of the trading suspension and application for relisting of the Company’s shares on the TSX Venture Exchange. This application includes a proposal whereby three (3) new Directors will be appointed to the Board and the Management team will be augmented with the appointment of two (2) new personnel.
Since receiving the resignation of Francois Desrosiers on August 7, 2007, the Company has been without the services of a full time President and CEO. Mr. Martin Nicoletti, the Company’s CFO has taken on the additional responsibilities of the President as well as CFO and looked after the day to day operations of
the Company. The Board wishes to acknowledge his excellent contributions and thank him for his invaluable contributions to the Company during this difficult period. The Company continues to maintain it’s regulatory filings and is current with all of it’s required filings. The Management Team and Board of Directors proposed to the TSX-V are:
Ken Ralfs - President, Chief Executive Officer and Director,
Martin Nicoletti – Chief Financial Officer,
Lili Radoi – Corporate Secretary,
Jean-Francois Perrault – Independent Director
Michael Neary – Independent Director
Clinton Barr – Independent Director,
Mike Clemann – Independent Director.
Martin Nicoletti, will continue as the Company’s CFO. Further, Messrs. Jean-Francois Perrault and Michael Neary, who were both elected as independent directors at the Company’s October 31, 2007 AGM, have agreed to remain as directors. Following is a brief biography of each of member of the team proposed to the TSX-V.
Ken Ralfs is a 1975 graduate of the University of British Columbia with a major in geology.
Employment as a geologist, project manager, stock broker, senior management and director of public companies (including President of Santa Cruz Ventures) has enabled Mr. Ralfs to develop and hone the
managerial, financial and problem solving skills so crucial to successfully managing a public company. He is currently self employed and serves as Director for several companies. Jean-François Perrault, graduated from McGill University in 1984 (Bachelor of Economics) and from Concordia University in 1989 (M.B.A.). He counts over 20 years of experience in the merchant banking
and investment banking industries. Prior to joining Union Securities Ltd as Vice-President, Corporate Finance in 2004, Mr. Perrault founded Pavilion Capital Partners in October 2002, a group providing consultancy and financial advisory services to institutional investors on alternative assets where he acted
and continues to act as the Managing Partner. Prior to that, Mr. Perrault was Vice-President and Director of TD Capital for approximately five years (1998-2002) where he was involved in completing small to mid-market investments – he also helped launch TD Capital private Equity Partners, Canada’s first
international private equity Fund of Funds (approximately 350,000,000$US). Prior to joining TD Capital, Mr. Perrault was a Senior Vice-President, Corporate Finance with Marleau, Lemire Securities from 1995- 1998. Prior to 1995, he held various senior positions with the Fonds de Solidarité FTQ (a labor sponsored venture fund), KPMG and Canadian Corporate Funding Limited (CCFL) – a private equity group. Michael Neary, is currently Vice President and Director at ThoughtSpeed eCommerce, a Toronto based Technology Solutions Company focused on web based order management solutions. From 2002 to 2007, he was a founder and executive at pVelocity Inc., a developer of Profit
Intelligence Solutions for Global Manufacturing Companies. From 1992 to 2001, Mr. Neary was a founder and VP Sales at Kitimat Systems Inc. a leading developer of Transportation Management Software in North America. In 1999, Kitimat Systems was purchased by Milwaukee based HK Systems.
Mr. Neary has a Bachelor’s of Economics from the University of British Columbia, and an MBA from the University of Cape Town.
Clinton Barr has been involved in mining exploration for over twenty years. He graduated from Lakehead University in 1991 with an H.B.Sc in Geology and is a registered Professional Geologist. From 1989-2001 Clinton worked for Noranda and Inco as a project geologist, generating and evaluating base
and precious metal opportunities both in Canada and offshore. During his tenure with Noranda he was involved in the discovery of five new base metal deposits. From 2001 to 2004 Mr. Barr consulted to numerous companies engaged in the exploration business including companies exploring for diamonds within Canada. As a founder, director, Chief Financial and Qualified Person of Benton Resources Corporation Mr. Barr has been intimately involved in the successful startup of a Junior resource company, including an IPO and listing on the TSX-V Exchange. Mr. Barr continues as an Officer and Director of
Benton Resources. His experience with exploration projects from grassroots to advanced projects and his financial experience give him a unique set of skills with which to direct and manage junior exploration companies as well as evaluate both the geological and political environments that are so critical to the success of junior resource companies.
Mike Clemann graduated from Bishops University in 1990 with a Bachelor of Business Economics. He has completed various courses within the Investment Dealers Association including the Canadian Securities Course and the Conduct and Practices Handbook. After spending 11 years working in the investment banking and brokerage business in Zurich, Switzerland, Mr. Clemann is currently Managing Director of FX Capital Ltd., a Canadian based financial advisory firm. His work at several Canadian and Swiss based banking and investment houses provides Mr. Clemann with an exceptional breadth of
experience in the corporate finance of public companies. His varied professional experience, both in raising and providing financing empower him with financial skills that are an asset to public companies. The current Board is confident that the experience and leadership ability of the new team will be an asset to Big Red and it shareholders. The new appointments are conditional upon the receipt of the approval from the TSX-V. The Exchange’s review of Messrs. Ken Ralfs, Clinton Barr and Mike Clemann and Ms. Lili Radoi remains to be completed. Updates on the progress of the relisting and TSX-V approval of the new appointees will be provided as the Exchange comments on the relisting application and the Exchange concludes its investigation into the
suitability of the new appointees. Since its suspension from trading, the Company has continued working on various of its properties.
BRDC holds four types of properties in its portfolio. These properties are held for their potential to host at least one of the following minerals: diamonds, gold or base metals, uranium, or an industrial mineral. Following is a brief summary of the exploration work completed in 2007 and the Company’s exploration
plans for 2008, for each property. Diamond Properties.
The Company’s primary asset is its interest in two joint ventures exploring for diamonds in the Attawapiskat region of Northern Ontario with Kel-Ex Developments Ltd. The original Attawapiskat Joint Venture Agreement with Kel-Ex Ltd. was modified in September 2004 when Kel-Ex assigned to the
Company an identical working interest in the Dumont Nickel Attawapiskat Property. While the original Attawapiskat claims and the Dumont claims are non-contiguous, the claims are all located within 25 kilometers of each other and claims in both the JV’s range from 4 kilometers to 22 kilometers away from DeBeers new Victor Diamond Mine which is currently under development and construction. The Victor Mine is located in geologic terrain similar to that underlying claims controlled by the Company’s Joint Ventures with Kel-Ex.
Recent exploration on the Attawapiskat JV’s has focused on evaluation of previous exploration results, data compilation, planning future exploration work and property maintenance. Kel-Ex Developments Ltd. is expected to convene a JV Management Committee meeting in the New Year to formalize work
plans and present a JV budget for 2008. The Foleyet diamond exploration property is a 50-50 Joint Venture with AntOro Resources Inc. and is
located within the Patricia Mining Division in Ontario The Joint Venture acquired a 100% interest in the property subject to a 1.1% NSR retained by the vendor. Big Red is the Project operator. Exploration work in 2007 focused on analysis and evaluation of data collected during a mapping and sampling program completed during the 2006 field season. A 2008 work program consisting of ground geophysics and basal till sampling is planned at a budgeted cost of $10,000. This work is sufficient to maintain the property in good standing.
The Hemlo diamond property is a 50-50 Joint Venture with AntOro Resources Inc and is located withinthe Patricia Mining Division in Ontario. The Joint Venture acquired a 100% interest in the property subject to a 1% NSR retained by the vendor. Big Red is the Project operator. Exploration work completed during 2007 focused on analysis of data generated by a geophysical interpretation done by Scott Hogg and Associates in early 2006 on 15 targets identified by airbourne geophysics as well as analysis of other data available in the public domain. The 2008 work plan is to conduct ground geophysics, geologic mapping and basal till sampling at a budgeted cost of $20,000. This work is sufficient to maintain the property in good standing.
The Frederike diamond property is 100% owned by BRDC and is located east of Desmaraisville, Quebec. 2007 exploration work consisted of the review, compilation and analysis of historic local and regional data, available in the public domain. Phase 1 exploration plans are budgeted at $300,000 for airbourne geophysics covering the entire property, so as to decrease the 200 meter flight line spacing of the government geophysics and increase the data density and resolution. This will facilitate better identification and location of linear and circular anomalies shown on the government data which may
indicate the presence of kimberlite dikes or plugs or kimberlite like rocks. If the airbourne geophysical results identify targets of merit, a Phase 2 exploration will be developed that will include ground geophysics and overburden and basal till sampling to further pinpoint targets for follow-up diamond drilling in a Phase 3 work program if results warrant. The decision of when to implement the airbourne geophysical work is dependent on the amount of financing raised and the success of exploration work on
the Company’s uranium exploration properties. Successful exploration results on one or more of the uranium properties may cause the Company to change it’s priorities for the expenditure of funds and delay work on the Frederike property. Sufficient past work has been completed to maintain the property
in good standing through 2008. The Valentine property was staked by BRDC and continues to be held as a 100% owned diamond property. The claims are all within the Valentine township of Ontario and were staked primarily because
of circular geophysical anomalies that may indicate the presence of kimberlite pipes. Previous exploration work by BRDC has identified three potential kimberlite targets. A 2008 work program, budgeted at $26,000 is planned to conduct confirmation ground IP to better identify the location of the
potential kimberlite targets prior to drilling. This work will be adequate to fulfill the assessment work requirements for the property. Assuming success with the confirmation ground IP, follow-up exploration work is budgeted at $301,000 and includes an airbourne EM survey and three (3) diamond drill holes as
well as additional sampling. Government data contain reports of anomalous copper associated with a carbonatite that occurs on the property, which suggests the property may have the potential to host base metal mineralization. Gold Properties BRDC is acquiring a 100% interest in the Bristol property subject to an underlying 3% NSR retained by the vendors. One payment of $7,500 remains to be paid, on February 27, 2008, at which time BRDC will have acquired a 100% interest. The Bristol property is located 10 kilometers west of the historic gold camp of Timmins, Ontario and on the westward projection of the Destor Porcupine Fault. Timmins area mines are nearly all located on the Destor Porcupine Fault and the area is well recognized in the mining community as an area that hosts multiple gold deposits that have each produced several million ounces of gold. The Bristol property was acquired for its gold potential because it is located on the Destor Porcupine Fault. Data obtained during the first work program on the property in 2006 found kimberlite and diamond indicator minerals in overburden samples. 2007 exploration work re-evaluated the data obtained from the 2006 field work and developed a work program of overburden stripping, sampling and ground geophysics to further identify and quantify the potential of this property to host gold mineralization and identify the rock types causing three linear magnetic anomaly’s that appear to be dikes. While these dike like features may be kimberlites or kimberlite like rocks, these linear magnetic features are believed to be mafic gabbro dikes similar to other such dikes in the Timmins camp. The Company plans to spend $10,000 on outcrop and overburden sampling in 2008, thus completing enough work to maintain the property in good standing. The Company acquired a 100% interest in the Munro property subject to an underlying 1.5% NSR retained by the vendor. The property is located about 20 kilometers east of Matheson, Ontario. 2007 exploration work consisted of the development of exploration plans for the property which consist of grid cutting, overburden stripping and sampling, geophysics, MMI geochemistry and follow-up drilling. Exploration plans for 2008 are budgeted at $26,000 for grid cutting and pack sack drilling. This work will maintain the property in good standing. Additional work may be done in 2008 if funding becomes available.
Uranium Properties
The Maro / Andy Lake properties are a 50-50 Joint Venture with AntOro Resources Inc. Each Company holds a 50% interest in the option to purchase a 100% interest in the Maro / Andy Lake properties, subject to an underlying 2% NSR retained by the vendor. On the Maro property, during the 2006 field season, a reconnaissance, ground radiometric prospecting program was conducted across three targets identified, sampled and drilled by previous operators. On the Andy Lake property, which is contiguous with Nova Uranium’s Mont-Laurier property in Quebec, the 2006 work program established two grid sections on separate anomalies identified by previous
operators. The grids were systematically explored with ground radiometric surveys and outcrop sampling. In 2007 the Company focused on compiling and analyzing the 2006 data in conjunction with data reported by prior operators as well as other data in the public domain, report writing and development of a
2008 work program. The work program developed consists of additional ground radiometric survey lines between and outside the 2006 lines, to increase the density, resolution and areal coverage of the ground
radiometric data. Additional outcrop sampling as well as overburden stripping followed by sampling is also planned Assuming that future work corroborates results obtained to date, this work is expected to be followed up with a first phase core drilling in 2009. Other 2008 work is planned to establish additional cut grids for radiometric surveys over other targets not explored during 2006. It is expected that at least part of this work will also be completed during 2008 but that some of the work will remain to be completed in 2009
as results warrant. The 2008 phase of the work (grid cutting, radiometric surveys, overburden stripping and sampling, and outcrop sampling) is estimated to cost $292,000. Sufficient work has been completed
to maintain the claims in good standing beyond 2008. The Joint Venture is required to expend $600,000 in exploration work on the two (2) properties combined by February 15, 2009. To date, $259,888.27 has been spent exploring on the property. (The total spent is still being verified.)
The Strategis property is held 100% by BRDC, subject to an underlying 1.5% NSR retained by the vendor. This property is contiguous to the East of the Strateco Resources Matoush Project. The Company’s 2007 work consisted of review and compilation of historic data from the property and the surrounding area, followed by the development of a work plan that will systematically explore the property. The first phase of this work program is airbourne geophysics and radiometrics to be followed up with grid cutting, ground geophysics and radiometrics, outcrop sampling, and overburden stripping
and sampling in order to better define the underlying geology and potential uranium targets on the property. If this exploration work is successful in defining drill targets then diamond drilling will follow, probably in 2009. The 2008 work program, budgeted at $325,000 will complete the airbourne geophysics and some ground radiometrics. The claims remain is good standing through the end of 2008.
Industrial Mineral Property
Big Red holds a 100% interest in the Attawapiskat Gravel property. This property is a gravel deposit in the James Bay low lands staked by BRDC and is held because gravel deposits are scarce in this part of Northern Ontario. No work has previously been done on the property. The property was restaked the last time it came open. Big Red plans to spend $10,000 doing auger sampling for gravel quality during 2008. This work will be sufficient to maintain the property in good standing. The work plans summarized above, are subject to the availability of financing.
Financing
In December, the Company received unsolicited expressions of interest from shareholders and investment houses regarding investment in the Company. Unfortunately, the Company was unable to address these expressions of interest as it was not yet re-listed for trading. After achieving re-listing for trading, the Company plans to re-visit those shareholders and investment houses that have already expressed an interest in investing in the Company, as well as other BRDC shareholders. The Company also plans to improve it’s exposure in the investment community by making presentations to the managers of investment funds, mutual funds and stock brokers who are not yet invested in the Company and are known to invest in junior exploration companies. Lastly, the Company will attend various of the investment conferences that are held across Canada and the United States to increase exposure to high net worth individuals who are familiar with the investment opportunities and risks associated with the junior exploration market.
The minimum financing required maintain the existing property interests in 2008 is $879,000. The Company plans to raise $300,000 over and above that amount to complete work plans for the Frederike property Work schedules, financing plans and property maintenance are subject to adjustment depending upon when the Company is relisted for trading.
This press release was prepared by Michael P. Gross, Chairman of the Board of Big Red Diamond
Corporation and a qualified person as defined in national policy 43-101.
Big Red Diamond is a diamond exploration company whose main asset is its participation in the Attawapiskat and Dumont Joint Ventures with Kel-Ex Development Ltd. a company owned by Charles Fipke, the discoverer of the
Ekati diamond mine in the NWT. This joint-venture is involved in a diamond exploration in Northern Ontario, in an area near the De Beers Victor diamond project. Big Red also owns outright a number of diamond and precious metals exploration properties in Northern Ontario as well as diamond and uranium exploration properties in Quebec.
KEN RALFS
President and CEO
Cell Phone: (604) 723-9600
Fax: (514) 907-9017
MARTIN NICOLETTI
CFO
Telephone: (514) 907-9016 – Ext. 160
Fax: (514) 907-9017
The Company Big Red Diamond Corporation (BRDC or the Company) is pleased to announce that it has submitted a request for removal of the trading suspension and application for relisting of the Company’s shares on the TSX Venture Exchange. This application includes a proposal whereby three (3) new Directors will be appointed to the Board and the Management team will be augmented with the appointment of two (2) new personnel.
Since receiving the resignation of Francois Desrosiers on August 7, 2007, the Company has been without the services of a full time President and CEO. Mr. Martin Nicoletti, the Company’s CFO has taken on the additional responsibilities of the President as well as CFO and looked after the day to day operations of
the Company. The Board wishes to acknowledge his excellent contributions and thank him for his invaluable contributions to the Company during this difficult period. The Company continues to maintain it’s regulatory filings and is current with all of it’s required filings. The Management Team and Board of Directors proposed to the TSX-V are:
Ken Ralfs - President, Chief Executive Officer and Director,
Martin Nicoletti – Chief Financial Officer,
Lili Radoi – Corporate Secretary,
Jean-Francois Perrault – Independent Director
Michael Neary – Independent Director
Clinton Barr – Independent Director,
Mike Clemann – Independent Director.
Martin Nicoletti, will continue as the Company’s CFO. Further, Messrs. Jean-Francois Perrault and Michael Neary, who were both elected as independent directors at the Company’s October 31, 2007 AGM, have agreed to remain as directors. Following is a brief biography of each of member of the team proposed to the TSX-V.
Ken Ralfs is a 1975 graduate of the University of British Columbia with a major in geology.
Employment as a geologist, project manager, stock broker, senior management and director of public companies (including President of Santa Cruz Ventures) has enabled Mr. Ralfs to develop and hone the
managerial, financial and problem solving skills so crucial to successfully managing a public company. He is currently self employed and serves as Director for several companies. Jean-François Perrault, graduated from McGill University in 1984 (Bachelor of Economics) and from Concordia University in 1989 (M.B.A.). He counts over 20 years of experience in the merchant banking
and investment banking industries. Prior to joining Union Securities Ltd as Vice-President, Corporate Finance in 2004, Mr. Perrault founded Pavilion Capital Partners in October 2002, a group providing consultancy and financial advisory services to institutional investors on alternative assets where he acted
and continues to act as the Managing Partner. Prior to that, Mr. Perrault was Vice-President and Director of TD Capital for approximately five years (1998-2002) where he was involved in completing small to mid-market investments – he also helped launch TD Capital private Equity Partners, Canada’s first
international private equity Fund of Funds (approximately 350,000,000$US). Prior to joining TD Capital, Mr. Perrault was a Senior Vice-President, Corporate Finance with Marleau, Lemire Securities from 1995- 1998. Prior to 1995, he held various senior positions with the Fonds de Solidarité FTQ (a labor sponsored venture fund), KPMG and Canadian Corporate Funding Limited (CCFL) – a private equity group. Michael Neary, is currently Vice President and Director at ThoughtSpeed eCommerce, a Toronto based Technology Solutions Company focused on web based order management solutions. From 2002 to 2007, he was a founder and executive at pVelocity Inc., a developer of Profit
Intelligence Solutions for Global Manufacturing Companies. From 1992 to 2001, Mr. Neary was a founder and VP Sales at Kitimat Systems Inc. a leading developer of Transportation Management Software in North America. In 1999, Kitimat Systems was purchased by Milwaukee based HK Systems.
Mr. Neary has a Bachelor’s of Economics from the University of British Columbia, and an MBA from the University of Cape Town.
Clinton Barr has been involved in mining exploration for over twenty years. He graduated from Lakehead University in 1991 with an H.B.Sc in Geology and is a registered Professional Geologist. From 1989-2001 Clinton worked for Noranda and Inco as a project geologist, generating and evaluating base
and precious metal opportunities both in Canada and offshore. During his tenure with Noranda he was involved in the discovery of five new base metal deposits. From 2001 to 2004 Mr. Barr consulted to numerous companies engaged in the exploration business including companies exploring for diamonds within Canada. As a founder, director, Chief Financial and Qualified Person of Benton Resources Corporation Mr. Barr has been intimately involved in the successful startup of a Junior resource company, including an IPO and listing on the TSX-V Exchange. Mr. Barr continues as an Officer and Director of
Benton Resources. His experience with exploration projects from grassroots to advanced projects and his financial experience give him a unique set of skills with which to direct and manage junior exploration companies as well as evaluate both the geological and political environments that are so critical to the success of junior resource companies.
Mike Clemann graduated from Bishops University in 1990 with a Bachelor of Business Economics. He has completed various courses within the Investment Dealers Association including the Canadian Securities Course and the Conduct and Practices Handbook. After spending 11 years working in the investment banking and brokerage business in Zurich, Switzerland, Mr. Clemann is currently Managing Director of FX Capital Ltd., a Canadian based financial advisory firm. His work at several Canadian and Swiss based banking and investment houses provides Mr. Clemann with an exceptional breadth of
experience in the corporate finance of public companies. His varied professional experience, both in raising and providing financing empower him with financial skills that are an asset to public companies. The current Board is confident that the experience and leadership ability of the new team will be an asset to Big Red and it shareholders. The new appointments are conditional upon the receipt of the approval from the TSX-V. The Exchange’s review of Messrs. Ken Ralfs, Clinton Barr and Mike Clemann and Ms. Lili Radoi remains to be completed. Updates on the progress of the relisting and TSX-V approval of the new appointees will be provided as the Exchange comments on the relisting application and the Exchange concludes its investigation into the
suitability of the new appointees. Since its suspension from trading, the Company has continued working on various of its properties.
BRDC holds four types of properties in its portfolio. These properties are held for their potential to host at least one of the following minerals: diamonds, gold or base metals, uranium, or an industrial mineral. Following is a brief summary of the exploration work completed in 2007 and the Company’s exploration
plans for 2008, for each property. Diamond Properties.
The Company’s primary asset is its interest in two joint ventures exploring for diamonds in the Attawapiskat region of Northern Ontario with Kel-Ex Developments Ltd. The original Attawapiskat Joint Venture Agreement with Kel-Ex Ltd. was modified in September 2004 when Kel-Ex assigned to the
Company an identical working interest in the Dumont Nickel Attawapiskat Property. While the original Attawapiskat claims and the Dumont claims are non-contiguous, the claims are all located within 25 kilometers of each other and claims in both the JV’s range from 4 kilometers to 22 kilometers away from DeBeers new Victor Diamond Mine which is currently under development and construction. The Victor Mine is located in geologic terrain similar to that underlying claims controlled by the Company’s Joint Ventures with Kel-Ex.
Recent exploration on the Attawapiskat JV’s has focused on evaluation of previous exploration results, data compilation, planning future exploration work and property maintenance. Kel-Ex Developments Ltd. is expected to convene a JV Management Committee meeting in the New Year to formalize work
plans and present a JV budget for 2008. The Foleyet diamond exploration property is a 50-50 Joint Venture with AntOro Resources Inc. and is
located within the Patricia Mining Division in Ontario The Joint Venture acquired a 100% interest in the property subject to a 1.1% NSR retained by the vendor. Big Red is the Project operator. Exploration work in 2007 focused on analysis and evaluation of data collected during a mapping and sampling program completed during the 2006 field season. A 2008 work program consisting of ground geophysics and basal till sampling is planned at a budgeted cost of $10,000. This work is sufficient to maintain the property in good standing.
The Hemlo diamond property is a 50-50 Joint Venture with AntOro Resources Inc and is located withinthe Patricia Mining Division in Ontario. The Joint Venture acquired a 100% interest in the property subject to a 1% NSR retained by the vendor. Big Red is the Project operator. Exploration work completed during 2007 focused on analysis of data generated by a geophysical interpretation done by Scott Hogg and Associates in early 2006 on 15 targets identified by airbourne geophysics as well as analysis of other data available in the public domain. The 2008 work plan is to conduct ground geophysics, geologic mapping and basal till sampling at a budgeted cost of $20,000. This work is sufficient to maintain the property in good standing.
The Frederike diamond property is 100% owned by BRDC and is located east of Desmaraisville, Quebec. 2007 exploration work consisted of the review, compilation and analysis of historic local and regional data, available in the public domain. Phase 1 exploration plans are budgeted at $300,000 for airbourne geophysics covering the entire property, so as to decrease the 200 meter flight line spacing of the government geophysics and increase the data density and resolution. This will facilitate better identification and location of linear and circular anomalies shown on the government data which may
indicate the presence of kimberlite dikes or plugs or kimberlite like rocks. If the airbourne geophysical results identify targets of merit, a Phase 2 exploration will be developed that will include ground geophysics and overburden and basal till sampling to further pinpoint targets for follow-up diamond drilling in a Phase 3 work program if results warrant. The decision of when to implement the airbourne geophysical work is dependent on the amount of financing raised and the success of exploration work on
the Company’s uranium exploration properties. Successful exploration results on one or more of the uranium properties may cause the Company to change it’s priorities for the expenditure of funds and delay work on the Frederike property. Sufficient past work has been completed to maintain the property
in good standing through 2008. The Valentine property was staked by BRDC and continues to be held as a 100% owned diamond property. The claims are all within the Valentine township of Ontario and were staked primarily because
of circular geophysical anomalies that may indicate the presence of kimberlite pipes. Previous exploration work by BRDC has identified three potential kimberlite targets. A 2008 work program, budgeted at $26,000 is planned to conduct confirmation ground IP to better identify the location of the
potential kimberlite targets prior to drilling. This work will be adequate to fulfill the assessment work requirements for the property. Assuming success with the confirmation ground IP, follow-up exploration work is budgeted at $301,000 and includes an airbourne EM survey and three (3) diamond drill holes as
well as additional sampling. Government data contain reports of anomalous copper associated with a carbonatite that occurs on the property, which suggests the property may have the potential to host base metal mineralization. Gold Properties BRDC is acquiring a 100% interest in the Bristol property subject to an underlying 3% NSR retained by the vendors. One payment of $7,500 remains to be paid, on February 27, 2008, at which time BRDC will have acquired a 100% interest. The Bristol property is located 10 kilometers west of the historic gold camp of Timmins, Ontario and on the westward projection of the Destor Porcupine Fault. Timmins area mines are nearly all located on the Destor Porcupine Fault and the area is well recognized in the mining community as an area that hosts multiple gold deposits that have each produced several million ounces of gold. The Bristol property was acquired for its gold potential because it is located on the Destor Porcupine Fault. Data obtained during the first work program on the property in 2006 found kimberlite and diamond indicator minerals in overburden samples. 2007 exploration work re-evaluated the data obtained from the 2006 field work and developed a work program of overburden stripping, sampling and ground geophysics to further identify and quantify the potential of this property to host gold mineralization and identify the rock types causing three linear magnetic anomaly’s that appear to be dikes. While these dike like features may be kimberlites or kimberlite like rocks, these linear magnetic features are believed to be mafic gabbro dikes similar to other such dikes in the Timmins camp. The Company plans to spend $10,000 on outcrop and overburden sampling in 2008, thus completing enough work to maintain the property in good standing. The Company acquired a 100% interest in the Munro property subject to an underlying 1.5% NSR retained by the vendor. The property is located about 20 kilometers east of Matheson, Ontario. 2007 exploration work consisted of the development of exploration plans for the property which consist of grid cutting, overburden stripping and sampling, geophysics, MMI geochemistry and follow-up drilling. Exploration plans for 2008 are budgeted at $26,000 for grid cutting and pack sack drilling. This work will maintain the property in good standing. Additional work may be done in 2008 if funding becomes available.
Uranium Properties
The Maro / Andy Lake properties are a 50-50 Joint Venture with AntOro Resources Inc. Each Company holds a 50% interest in the option to purchase a 100% interest in the Maro / Andy Lake properties, subject to an underlying 2% NSR retained by the vendor. On the Maro property, during the 2006 field season, a reconnaissance, ground radiometric prospecting program was conducted across three targets identified, sampled and drilled by previous operators. On the Andy Lake property, which is contiguous with Nova Uranium’s Mont-Laurier property in Quebec, the 2006 work program established two grid sections on separate anomalies identified by previous
operators. The grids were systematically explored with ground radiometric surveys and outcrop sampling. In 2007 the Company focused on compiling and analyzing the 2006 data in conjunction with data reported by prior operators as well as other data in the public domain, report writing and development of a
2008 work program. The work program developed consists of additional ground radiometric survey lines between and outside the 2006 lines, to increase the density, resolution and areal coverage of the ground
radiometric data. Additional outcrop sampling as well as overburden stripping followed by sampling is also planned Assuming that future work corroborates results obtained to date, this work is expected to be followed up with a first phase core drilling in 2009. Other 2008 work is planned to establish additional cut grids for radiometric surveys over other targets not explored during 2006. It is expected that at least part of this work will also be completed during 2008 but that some of the work will remain to be completed in 2009
as results warrant. The 2008 phase of the work (grid cutting, radiometric surveys, overburden stripping and sampling, and outcrop sampling) is estimated to cost $292,000. Sufficient work has been completed
to maintain the claims in good standing beyond 2008. The Joint Venture is required to expend $600,000 in exploration work on the two (2) properties combined by February 15, 2009. To date, $259,888.27 has been spent exploring on the property. (The total spent is still being verified.)
The Strategis property is held 100% by BRDC, subject to an underlying 1.5% NSR retained by the vendor. This property is contiguous to the East of the Strateco Resources Matoush Project. The Company’s 2007 work consisted of review and compilation of historic data from the property and the surrounding area, followed by the development of a work plan that will systematically explore the property. The first phase of this work program is airbourne geophysics and radiometrics to be followed up with grid cutting, ground geophysics and radiometrics, outcrop sampling, and overburden stripping
and sampling in order to better define the underlying geology and potential uranium targets on the property. If this exploration work is successful in defining drill targets then diamond drilling will follow, probably in 2009. The 2008 work program, budgeted at $325,000 will complete the airbourne geophysics and some ground radiometrics. The claims remain is good standing through the end of 2008.
Industrial Mineral Property
Big Red holds a 100% interest in the Attawapiskat Gravel property. This property is a gravel deposit in the James Bay low lands staked by BRDC and is held because gravel deposits are scarce in this part of Northern Ontario. No work has previously been done on the property. The property was restaked the last time it came open. Big Red plans to spend $10,000 doing auger sampling for gravel quality during 2008. This work will be sufficient to maintain the property in good standing. The work plans summarized above, are subject to the availability of financing.
Financing
In December, the Company received unsolicited expressions of interest from shareholders and investment houses regarding investment in the Company. Unfortunately, the Company was unable to address these expressions of interest as it was not yet re-listed for trading. After achieving re-listing for trading, the Company plans to re-visit those shareholders and investment houses that have already expressed an interest in investing in the Company, as well as other BRDC shareholders. The Company also plans to improve it’s exposure in the investment community by making presentations to the managers of investment funds, mutual funds and stock brokers who are not yet invested in the Company and are known to invest in junior exploration companies. Lastly, the Company will attend various of the investment conferences that are held across Canada and the United States to increase exposure to high net worth individuals who are familiar with the investment opportunities and risks associated with the junior exploration market.
The minimum financing required maintain the existing property interests in 2008 is $879,000. The Company plans to raise $300,000 over and above that amount to complete work plans for the Frederike property Work schedules, financing plans and property maintenance are subject to adjustment depending upon when the Company is relisted for trading.
This press release was prepared by Michael P. Gross, Chairman of the Board of Big Red Diamond
Corporation and a qualified person as defined in national policy 43-101.
Big Red Diamond is a diamond exploration company whose main asset is its participation in the Attawapiskat and Dumont Joint Ventures with Kel-Ex Development Ltd. a company owned by Charles Fipke, the discoverer of the
Ekati diamond mine in the NWT. This joint-venture is involved in a diamond exploration in Northern Ontario, in an area near the De Beers Victor diamond project. Big Red also owns outright a number of diamond and precious metals exploration properties in Northern Ontario as well as diamond and uranium exploration properties in Quebec.
KEN RALFS
President and CEO
Cell Phone: (604) 723-9600
Fax: (514) 907-9017
MARTIN NICOLETTI
CFO
Telephone: (514) 907-9016 – Ext. 160
Fax: (514) 907-9017
Wednesday, August 6, 2008
Spirit Exploration, Inc. Diversifies its Mining Operations by Signing Acquisition Agreement to Purchase the Emerson Tungsten Mine in Nevada
This press release on mining news was released by Spirit Exploration,Inc on February 20, 2008, Bakersfield. It is said that Spirit Exploration, Inc. (SPXP: Pink Sheets) is pleased to announce it has signed an agreement to purchase the Emerson Tungsten Mine near Rachel, Nevada from Nevada Minerals, Inc. This acquisition supports Spirit’s strategic direction to broaden their product base and derive production from multiple countries. Thomas Cunningham, President of Spirit, stated “We are extremely excited about this acquisition as it strengthens the company by adding tungsten production to our mix of products and also gives us a producing mine in the United States.” Tom added “we believe, at the present tungsten prices, the Emerson Project is not only feasible but could generate significant profits for Spirit Exploration, Inc This agreement is subject to final due diligence to be completed by May 5, 2008.
The mine and plant were built and developed by Union Carbide Corporation in 1984 and operated for 9 years. After a substantial investment, Union Carbide decided to stop operations in 1993 due to the collapse of tungsten prices. Up to 2005 it was not economically feasible to consider opening the Emerson Mine with tungsten below $65 per unit in market value. In 2005 Tungsten reached $270 USD and has remained at least $250 per unit since. The Emerson Project will be a complete mining operation, which would include an underground mine, major rail and conveyor systems, laboratory and testing facility and a completely enclosed in-house floatation plant. The plant and operation is placed on 400 patent acres near Rachel Nevada. Spirit has sent a geologist to the site who is reviewing previous work conducted by Union Carbide and conducting a site inspection. Spirit will be reporting on the details of this work.
About Tungsten
Tungsten has the highest melting point of any metal and hence its usage in lighting filaments. As tungsten carbide, it is an exceptionally hard material, used in machinery, cutting, drilling and wear applications. It is one of the heaviest metals – a property that finds use in counterweights and armaments (armor-piercing ammunition and armor-plate). It is a key element in tool-steels- most notably in high speed cutting steels. It is primarily used as carbide to harden metal-cutting tools and as an alloying agent in steel-making.
The combination of these properties, particularly in ordinance and specialist machining operations, gave it status as a component of the US strategic metals stockpiles.
About Spirit Exploration Inc.
Spirit Exploration, Inc., a Nevada Corporation, is an exploration stage mining company. Through its 99% owned subsidiary ECUADORGOLDCORP, S.A., Spirit Exploration is in the business of acquiring, exploring and developing mineral (gold, silver, copper) concessions in Ecuador. Spirit is in the process of bringing several mines into production. We have acquired, and we have additional options to acquire, a diverse range of mineral production and exploration properties in Ecuador.
Further information is available on the company website: www.spirit-exploration.com
Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements
IR Contacts:
Toronto:
Martti Kangas
The Equicom Group
Phone: 416 815-0700 x 243
mkangas@equicomgroup.com
Dan Gravelle
Goal Capital LLC
Phone: 877 887 2118
danny@spirit-exloration.com
Written by Spirit Exploration · Filed Under Press Releases
The mine and plant were built and developed by Union Carbide Corporation in 1984 and operated for 9 years. After a substantial investment, Union Carbide decided to stop operations in 1993 due to the collapse of tungsten prices. Up to 2005 it was not economically feasible to consider opening the Emerson Mine with tungsten below $65 per unit in market value. In 2005 Tungsten reached $270 USD and has remained at least $250 per unit since. The Emerson Project will be a complete mining operation, which would include an underground mine, major rail and conveyor systems, laboratory and testing facility and a completely enclosed in-house floatation plant. The plant and operation is placed on 400 patent acres near Rachel Nevada. Spirit has sent a geologist to the site who is reviewing previous work conducted by Union Carbide and conducting a site inspection. Spirit will be reporting on the details of this work.
About Tungsten
Tungsten has the highest melting point of any metal and hence its usage in lighting filaments. As tungsten carbide, it is an exceptionally hard material, used in machinery, cutting, drilling and wear applications. It is one of the heaviest metals – a property that finds use in counterweights and armaments (armor-piercing ammunition and armor-plate). It is a key element in tool-steels- most notably in high speed cutting steels. It is primarily used as carbide to harden metal-cutting tools and as an alloying agent in steel-making.
The combination of these properties, particularly in ordinance and specialist machining operations, gave it status as a component of the US strategic metals stockpiles.
About Spirit Exploration Inc.
Spirit Exploration, Inc., a Nevada Corporation, is an exploration stage mining company. Through its 99% owned subsidiary ECUADORGOLDCORP, S.A., Spirit Exploration is in the business of acquiring, exploring and developing mineral (gold, silver, copper) concessions in Ecuador. Spirit is in the process of bringing several mines into production. We have acquired, and we have additional options to acquire, a diverse range of mineral production and exploration properties in Ecuador.
Further information is available on the company website: www.spirit-exploration.com
Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements
IR Contacts:
Toronto:
Martti Kangas
The Equicom Group
Phone: 416 815-0700 x 243
mkangas@equicomgroup.com
Dan Gravelle
Goal Capital LLC
Phone: 877 887 2118
danny@spirit-exloration.com
Written by Spirit Exploration · Filed Under Press Releases
World news on Diamond-Big Red Diamond Corporation Closing of $531,600 Private Placement
This press about BRDC was first released in Montreal, Canada - July 15, 2008 - Big Red Diamond Corporation (TSXV - DIA) is pleased to announce that it has closed a non-brokered private placement of 246 units for a total amount of $246,000 (the “Private Placement”). Each unit, at a price of $1,000 is comprised of twenty thousand common shares of DIA at a price of $0.05 per share and twenty thousand common share purchase warrants. Each common share purchase warrant shall entitle its holder to
subscribe for one common share of DIA at a price of $0.10 per share for a period of 24 months following the date of closing of the Private Placement.
DIA is also pleased to announce that it has completed a non-brokered Flow-Through private placement of 272 units for a total amount of $285,600 (the “Flow-Through Private Placement”). Each unit, at a price of $1,050 is comprised of twelve thousand flow-through common shares of DIA at a price of $0.07 per share and three thousand common shares of DIA at a price of $0.07 per share.
In connection with the private placement, various intermediaries and/or rokers have received a cash payment equal to 10% of the gross proceeds raised from the distribution of units plus compensation options to purchase 24.6 units at a price of $1,000 per unit, for a period of 24 months from the date of closing of the offering.
The units to be issued under both Private Placements will be subject to a resale restriction of four months and one day. The proceeds of the Private Placement will be used to fund part of our upcoming exploration program and for general working capital purposes. Big Red Diamond Corporation reserves the right to complete additional closing until August 21,
2008.
For further information, please contact:
Jean-François Perrault
Director
Telephone: (514) 798-4484
Fax: (514) 798-4896
Martin Nicoletti
Chief Financial Officer
Telephone: (514) 907-9016 – Ext. 160
Fax: (514) 907-9017
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
subscribe for one common share of DIA at a price of $0.10 per share for a period of 24 months following the date of closing of the Private Placement.
DIA is also pleased to announce that it has completed a non-brokered Flow-Through private placement of 272 units for a total amount of $285,600 (the “Flow-Through Private Placement”). Each unit, at a price of $1,050 is comprised of twelve thousand flow-through common shares of DIA at a price of $0.07 per share and three thousand common shares of DIA at a price of $0.07 per share.
In connection with the private placement, various intermediaries and/or rokers have received a cash payment equal to 10% of the gross proceeds raised from the distribution of units plus compensation options to purchase 24.6 units at a price of $1,000 per unit, for a period of 24 months from the date of closing of the offering.
The units to be issued under both Private Placements will be subject to a resale restriction of four months and one day. The proceeds of the Private Placement will be used to fund part of our upcoming exploration program and for general working capital purposes. Big Red Diamond Corporation reserves the right to complete additional closing until August 21,
2008.
For further information, please contact:
Jean-François Perrault
Director
Telephone: (514) 798-4484
Fax: (514) 798-4896
Martin Nicoletti
Chief Financial Officer
Telephone: (514) 907-9016 – Ext. 160
Fax: (514) 907-9017
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Mining Investments-Coal Mine Exploration and Producer, Waratah Coal Enters Into Investor Relations Agreement
Waratah Coal Inc. is pleased to announce that it has retained the services of Mr. Michael Joyner to conduct investor relations services for the Company.
Mr. Joyner will receive a fee of $115,000 per annum. The term of the contract is 12 months. The Company will also grant an option to Mr. Joyner to purchase 175,000 common shares of the Company at $2.90 per share for a five year period, subject to regulatory approval. The options will vest in equal stages over 18 months.
The Company also announces that, further to its press release of July 15, 2008, it has paid a success fee of AUS$500K payable through the issuance of 146,040 shares of the Company at a price of C$3.36 per share to an arm’s length third party for their assistance to Waratah in attaining the Queensland Government’s declaration of state significance for the Company’s mine, rail, and port project.
Mr. Joyner will receive a fee of $115,000 per annum. The term of the contract is 12 months. The Company will also grant an option to Mr. Joyner to purchase 175,000 common shares of the Company at $2.90 per share for a five year period, subject to regulatory approval. The options will vest in equal stages over 18 months.
The Company also announces that, further to its press release of July 15, 2008, it has paid a success fee of AUS$500K payable through the issuance of 146,040 shares of the Company at a price of C$3.36 per share to an arm’s length third party for their assistance to Waratah in attaining the Queensland Government’s declaration of state significance for the Company’s mine, rail, and port project.
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