(TSX VENTURE:ORM) News ;Oremex Provides Clarification Regarding Projects Surrounding El Sol
TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog ) - Oct. 15, 2010) - Oremex Resources Inc. (TSX VENTURE:ORM) Oremex Resources wishes to clarify its press release dated October 14, 2010 relating to its wholly-owned El Sol silver project. The Cerro Las Minitas project adjacent to El Sol remains owned by Silver Dragon Resources. Silver Dragon has not entered into any agreement to sell its interest in the project.
El Sol is also in very close proximity and near-adjacent to the Cerro Las Minitas project for which Southern Silver Exploration Corp. has entered into an agreement to acquire. Information relating to Southern Silver's agreement to acquire the Cerro Las Minitas project can be found at http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007638.
Oremex regrets any confusion that may have been caused inadvertently.
About Oremex:
Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company's Tejamen project has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden Mining Industry Consultants completed a Preliminary Assessment Study (NI 43-101 compliant October 2006) demonstrating that the project can support a 10,000 tonne per day open pit, heap leach mining operation.
National Instrument 43-101 requires the following statement: that the preliminary assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.
Forward-Looking Statements: The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Oremex Resources Inc.
Michael Smith
President & CEO
(416) 309-4320
info@oremex.com
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Friday, October 15, 2010
TSX Mining Stocks; Far West Mining (TSX:FWM) Closes $10,852,126 Private Placement
TSX Mining Stocks; Far West Mining (TSX:FWM) Closes $10,852,126 Private Placement
VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) - Oct. 15, 2010) - Far West Mining Ltd. (TSX:FWM) advises that it has closed the financing previously announced in September, 2010 for gross proceeds of $10,852,126.
The financing is a private placement of 2,646,860 units ("Units") at a price of $4.10 per Unit for total proceeds of $10,852,126 and was previously announced by News Releases on September 21 and 22, 2010. Each Unit consists of one common share of the Company (a "Share") and one transferable common share purchase warrant (a "Purchase Warrant"). Each Purchase Warrant entitles the holder to purchase one Share for a period of two years at an exercise price of $5.35 during the first year and at an exercise price of $5.85 during the second year. The Purchase Warrants will not be listed for trading. The Shares, Warrants and Shares issuable on exercise of the Warrants will not be subject to any hold or restricted period in Canada that extends beyond four months and one day after the closing date.
Pacific Road Resources Funds ("PRRF"), managed and advised by Pacific Road Capital Management Pty Ltd. of Sydney, Australia ("PRCM"), subscribed for 2,439,025 Units and Quadra FNX Mining Ltd. (TSX: QUX) exercised its anti-dilution participation right by subscribing for 207,835 Units. The Company paid a transaction fee of 2.5% to PRCM with respect to PRRF subscription.
The net proceeds of the financing will be used for development of the Santo Domingo Property in Chile and for exploration and working capital.
Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties in Chile and Australia. For further information investors should review the Company's filings that are available at http://www.farwestmining.com/ and http://www.sedar.com/.
FAR WEST MINING LTD.
"Richard N. Zimmer"
Richard N. Zimmer, P.Eng. President and C.E.O.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Far West Mining Ltd.
Rick Zimmer
President & CEO
(604) 602-9144
or
Far West Mining Ltd.
Iain MacPhail
CFO
(604) 602-9144
http://www.farwestmining.com/
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VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) - Oct. 15, 2010) - Far West Mining Ltd. (TSX:FWM) advises that it has closed the financing previously announced in September, 2010 for gross proceeds of $10,852,126.
The financing is a private placement of 2,646,860 units ("Units") at a price of $4.10 per Unit for total proceeds of $10,852,126 and was previously announced by News Releases on September 21 and 22, 2010. Each Unit consists of one common share of the Company (a "Share") and one transferable common share purchase warrant (a "Purchase Warrant"). Each Purchase Warrant entitles the holder to purchase one Share for a period of two years at an exercise price of $5.35 during the first year and at an exercise price of $5.85 during the second year. The Purchase Warrants will not be listed for trading. The Shares, Warrants and Shares issuable on exercise of the Warrants will not be subject to any hold or restricted period in Canada that extends beyond four months and one day after the closing date.
Pacific Road Resources Funds ("PRRF"), managed and advised by Pacific Road Capital Management Pty Ltd. of Sydney, Australia ("PRCM"), subscribed for 2,439,025 Units and Quadra FNX Mining Ltd. (TSX: QUX) exercised its anti-dilution participation right by subscribing for 207,835 Units. The Company paid a transaction fee of 2.5% to PRCM with respect to PRRF subscription.
The net proceeds of the financing will be used for development of the Santo Domingo Property in Chile and for exploration and working capital.
Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties in Chile and Australia. For further information investors should review the Company's filings that are available at http://www.farwestmining.com/ and http://www.sedar.com/.
FAR WEST MINING LTD.
"Richard N. Zimmer"
Richard N. Zimmer, P.Eng. President and C.E.O.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Far West Mining Ltd.
Rick Zimmer
President & CEO
(604) 602-9144
or
Far West Mining Ltd.
Iain MacPhail
CFO
(604) 602-9144
http://www.farwestmining.com/
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Mining and Energy Stocks; TSX Venture Exchange Closing Summary for October 15, 2010
Mining and Energy Stocks; TSX Venture Exchange Closing Summary for October 15, 2010
http://www.tsx.com/en/news_events/media_kit.html
Trading was very heavy on a volume of 324.0 million shares worth 170.6 million dollars.
The S&P/TSX Venture Composite Index closed up 0.50 at 1822.53
Most Active Issues by Volume Volume Name Symbol Close Change 5,940,499 Benchmark Energy Corp. BEE $0.095 -$0.010 5,713,013 Upper Canyon Minerals Corp. UCM $0.085 $0.015 5,381,700 Route1 Inc. ROI $0.250 $0.035 3,596,500 LNG Energy Ltd. LNG $0.235 -$0.015 3,524,655 Jayden Resources Inc. JDN $0.215 -$0.010 3,275,030 Cobalt Coal Corp. CBT $0.090 $0.035 3,196,950 Ashburton Ventures Inc. ABR $0.075 $0.000 2,960,620 Encore Renaissance Resources Corp. EZ $0.075 $0.000 2,888,754 Prophecy Resource Corp. PCY $0.660 $0.000 2,807,349 Gran Colombia Gold Corp. GCM $0.390 $0.010 Most Active Securities by Value Value Security Name Symbol Close Change $7,092,901 Coastal Energy Company CEN $4.200 -$0.020 $5,769,754 GASFRAC Energy Services Inc. GFS $7.100 $0.050 $4,374,923 Timmins Gold Corp. TMM $2.000 -$0.070 $3,645,864 Canacol Energy Ltd. CNE $1.520 -$0.020 $3,516,646 Silverbirch Energy Corporation SBE $5.660 $0.030 $3,326,338 ATAC Resources Ltd. ATC $7.290 $0.260 $3,125,026 Wild Stream Exploration Inc. WSX $7.050 $0.100 $3,025,999 Ithaca Energy Inc. IAE $2.140 -$0.030 $2,780,940 Second Wave Petroleum Inc. SCS $2.560 -$0.040 $2,482,852 Bear Creek Mining Corporation BCM $6.840 -$0.020
NEX Closing Summary for October 15, 2010
Trading was heavy on a volume of 3.35 million shares worth 0.30 million
dollars.
Most Active Issues by Volume Volume Name Symbol Close Change 1,477,000 Canamex Silver Corp. CSQ.H $0.085 $0.005 510,000 First Metals Inc. FMA.H $0.010 $0.005 250,000 Exchequer Resource Corp. EXQ.H $0.075 $0.005 225,000 Mira Resources Corp. MRP.H $0.305 $0.005 220,000 Atlantis Systems Corp. AIQ.H $0.030 $0.005 148,800 Cheetah Ventures Ltd. CHV.H $0.300 $0.025 130,585 Earl Resources Limited ERL.H $0.010 -$0.020 65,000 Duncan Park Holdings Corporation DPH.H $0.090 $0.000 60,000 Sphere Resources Inc. SPH.H $0.020 $0.000 50,000 FRV Media Inc. FRV.H $0.010 $0.000 Most Active Securities by Value Value Security Name Symbol Close Change $130,590 Canamex Silver Corp. CSQ.H $0.085 $0.005 $63,175 Mira Resources Corp. MRP.H $0.305 $0.005 $43,270 Cheetah Ventures Ltd. CHV.H $0.300 $0.025 $18,750 Exchequer Resource Corp. EXQ.H $0.075 $0.005 $11,650 Woodrose Corporation WRS.H $0.450 -$0.005 $6,550 Atlantis Systems Corp. AIQ.H $0.030 $0.005 $5,850 Duncan Park Holdings Corporation DPH.H $0.090 $0.000 $5,100 First Metals Inc. FMA.H $0.010 $0.005 $3,705 Lorex Technology Inc. LOX.H $0.190 -$0.050 $2,280 Afrasia Mineral Fields Inc. AFS.H $0.190 $0.015
NOTE: This document is for information purposes only and is not an invitation
to purchase any securities listed on TSX Venture Exchange and/or NEX.
While the information herein is collected and compiled with care, neither TSX
Venture Exchange Inc., TSX Inc. nor any of their respective affiliated
companies represents, warrants or guarantees the accuracy or the completeness
of the information. This information is provided with the express condition,
to which by purchasing or making use thereof you expressly consent, that no
liability shall be incurred by TSX Venture Exchange Inc., TSX Inc. and/or any
of its affiliates as a result of any use or reliance upon this information.
"S&P" is a trade-mark of The McGraw-Hill Companies, Inc. and is used under
licence by TSX Inc. and "TSX" is a trade-mark of TSX Inc.
For more information, please contact
TSX Venture Exchange - Closing Market Report
TSX Datalinx
(416) 947-4452
Email: marketdata@tsxdatalinx.com
TSX Venture Exchange - Closing Market Report
TSX Datalinx
(416) 947-4452
Email: marketdata@tsxdatalinx.com
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Investorideas.com - Gold Volume Leaders: Actively Trading OTC Stocks ($0.50-$1.00): (OTCBB: SRGZ, SILA, FLPC, FMCCN)
Investorideas.com - Gold Volume Leaders: Actively Trading OTC Stocks ($0.50-$1.00): (OTCBB: SRGZ, SILA, FLPC, FMCCN)
Note to Editors: The Following Is an Investment Opinion Being Issued by OTC VOLUME LEADERS
Point Roberts, WA (Investorideas.com Newswire) October 15, 2010 - OTC VOLUME LEADERS (www.otcvolumeleaders.com ) reports on the most active trading stocks on the OTCBB for interested small cap investors. OTC Volume leaders ($0.50-$1.00) include Star Gold Corp. (OTCBB: SRGZ) Gold American Mining Corp. (OTCBB: SILA), First Liberty Power Corp. (OTCBB: FLPC), and Freddie Mac (OTCBB: FMCCN).
OTC/Market Commentary:
One of the OTCBB volume leader reports; Recent News; "Star Gold Corp. announced today it has released its new PowerPoint presentation which is ready for immediate viewing by the investment community on the Company's web site. To view Star Gold's PowerPoint presentation, please go to www.stargoldcorp.com and click on the "About Us" tab. The PowerPoint provides an overview of Star Gold's operations, management and directors, financials, current projects and other valuable information for current and prospective shareholders.
This comprehensive PowerPoint presentation highlights specific information regarding the Company's three current projects, the Excalibur Project, the Longstreet Project and the Jet Project."
Full Article: http://finance.yahoo.com/news/Star-Gold-Announces-Release-iw-2073952037.html?x=0&.v=1
Market Snapshot: (at time of release)
Dow 11,035.20 -59.37 -0.54%
Nasdaq 2,456.86 +21.48 +0.88%
S&P 500 1,172.36 -1.45 -0.12%
10 Yr Bond(%) 2.5690% +0.7400
Oil 81.45 -1.24 -1.50%
Gold 1,370.80 -5.90 -0.43%
OTCBB Investors: Take the few minutes to register with us at To sign up for free Newsletter http://bit.ly/otcvolumeleaders and get access to info on hundreds of the most active OTCBB companies and keep up to date with developments of the companies. Visit this company: http://www.otcvolumeleaders.com/
OTC VOLUME LEADERS provides investors with daily market updates showcasing the most actively traded OTCBB Companies. We strive to provide you with the most up-to-date market information and activity by searching through hundreds of OTCBB companies in order to provide you information on the best of these companies. The goal is to continually find tomorrow’s market leading companies, today!
OTCVolumeleaders.com has not been compensated by any of the above mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks.
Sign up at OTC Volume leaders and get access to info on hundreds of the most active OTCBB companies by clicking the sign up link below
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Disclosure, Disclaimer/ OTC is a paid advertising client on Investorideas.com.
More Info:
Published at www.Investorideas.com - Global research by sectors
If you have any questions regarding information in this press release please contact the company listed in the press release.
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .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. This site is currently compensated by featured companies, news submissions and online advertising.
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Note to Editors: The Following Is an Investment Opinion Being Issued by OTC VOLUME LEADERS
Point Roberts, WA (Investorideas.com Newswire) October 15, 2010 - OTC VOLUME LEADERS (www.otcvolumeleaders.com ) reports on the most active trading stocks on the OTCBB for interested small cap investors. OTC Volume leaders ($0.50-$1.00) include Star Gold Corp. (OTCBB: SRGZ) Gold American Mining Corp. (OTCBB: SILA), First Liberty Power Corp. (OTCBB: FLPC), and Freddie Mac (OTCBB: FMCCN).
OTC/Market Commentary:
One of the OTCBB volume leader reports; Recent News; "Star Gold Corp. announced today it has released its new PowerPoint presentation which is ready for immediate viewing by the investment community on the Company's web site. To view Star Gold's PowerPoint presentation, please go to www.stargoldcorp.com and click on the "About Us" tab. The PowerPoint provides an overview of Star Gold's operations, management and directors, financials, current projects and other valuable information for current and prospective shareholders.
This comprehensive PowerPoint presentation highlights specific information regarding the Company's three current projects, the Excalibur Project, the Longstreet Project and the Jet Project."
Full Article: http://finance.yahoo.com/news/Star-Gold-Announces-Release-iw-2073952037.html?x=0&.v=1
Market Snapshot: (at time of release)
Dow 11,035.20 -59.37 -0.54%
Nasdaq 2,456.86 +21.48 +0.88%
S&P 500 1,172.36 -1.45 -0.12%
10 Yr Bond(%) 2.5690% +0.7400
Oil 81.45 -1.24 -1.50%
Gold 1,370.80 -5.90 -0.43%
OTCBB Investors: Take the few minutes to register with us at To sign up for free Newsletter http://bit.ly/otcvolumeleaders and get access to info on hundreds of the most active OTCBB companies and keep up to date with developments of the companies. Visit this company: http://www.otcvolumeleaders.com/
OTC VOLUME LEADERS provides investors with daily market updates showcasing the most actively traded OTCBB Companies. We strive to provide you with the most up-to-date market information and activity by searching through hundreds of OTCBB companies in order to provide you information on the best of these companies. The goal is to continually find tomorrow’s market leading companies, today!
OTCVolumeleaders.com has not been compensated by any of the above mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks.
Sign up at OTC Volume leaders and get access to info on hundreds of the most active OTCBB companies by clicking the sign up link below
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* Attention Investors in British Columbia Canada: Do not subscribe to any OTC stocks not currently filing with Sedar in BC and BC Securities
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Disclosure, Disclaimer/ OTC is a paid advertising client on Investorideas.com.
More Info:
Published at www.Investorideas.com - Global research by sectors
If you have any questions regarding information in this press release please contact the company listed in the press release.
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .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. This site is currently compensated by featured companies, news submissions and online advertising.
Investorideas.com Disclaimer: http://www.investorideas.com/About/Disclaimer.asp
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Thursday, October 14, 2010
Mining Investor News; Indigo (TSX VENTURE:IXI) Commences Work on Moule Gold Permit in Burkina Faso
Mining Investor News; Indigo (TSX VENTURE:IXI) Commences Work on Moule Gold Permit in Burkina Faso
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) - Oct. 14, 2010) - Indigo Exploration Inc. (TSX VENTURE:IXI) reports that it has started a comprehensive fall 2010 sampling exploration program on its Moule Gold Permit in Burkina Faso, West Africa, in preparation for drilling expected to follow next month. The program will consist of rock and soil sampling and trenching focused in areas that previously graded greater than 1 g/t Au. Results of the sampling program will be used to optimize and rank the sequence of the multiple drill targets.
The Moule Gold Permit covers 249 square kilometres of prospective Birimian greenstone geology. Much of West Africa is underlain by the Birimian Greenstone Belt, one of the most prolific gold producing areas in the world.
Past and current artisanal workings are scattered over the entire Moule permit. To date, there has been property-wide mapping and sampling of quartz veining and quartz float. Previous explorers subsequently focussed their efforts in a 7 kilometre by 6 kilometre area with a soil grid, detailed mapping and local induced polarization (IP) survey. Rock sampling on this grid returned 46 of 480 grab samples with gold values between 1 g/t Au and 16.5 g/t Au. Multiple long and wide linear targets are evident within the grid. One target is a 500 metre wide northwest trending corridor, traceable for at least 1.6 kilometres, where multiple shear zones and parallel multiple quartz float trends have coincident chargeability, elevated gold soil anomalies and local artisanal workings. A second target is a 2.5 kilometre long linear gold soil anomaly with coincident quartz float, chargeability high and local artisanal workings. A third target is a 0.8 kilometre long trend of quartz veining which can swarm to at least 50 metres wide, where grab samples reached a high of 7 g/t Au. In addition, other quartz trends on the property with elevated gold values in soils and rocks and local artisanal workings are worthy of future attention. Indigo geologists have identified multiple prospective targets for bulk tonnage gold systems, based on the artisanal workings combined with previous sampling programs.
Indigo plans an initial program of rock sampling, trenching and soil geochemistry over selected quartz trends to optimize drill targets. A phase one combination air core/reverse circulation drilling program up to 5,000 metres is scheduled for late November.
Indigo is earning a 100% interest, subject to a 1.5% Net Smelter Return (NSR) royalty in the Moule Gold Permit by making cash payments totalling US$410,000 over 3 years. Indigo retains the right to purchase the entire 1.5% NSR for US$1,800,000.
About Burkina Faso
The Moule property lies in the West African nation of Burkina Faso. Much of West Africa is underlain by the Birimian Greenstone Belt, one of the most prolific gold producing areas in the world. Many of the world's major gold companies are active in West Africa, several with producing mines, including: IAMGOLD Corporation, AngloGold Ashanti Limited, Randgold Resources Limited, Gold Fields Limited and Newmont Mining Corporation. Burkina Faso is politically and economically stable and relies on farming and mining as its primary sources of revenue.
In other news, Simon Tam has stepped down as a director. The board would like to extend their appreciation to Simon for his contributions to the Company.
On Behalf of the Board of Directors,
R. Tim Henneberry, P.Geo., President and CEO
Paul Cowley, P.Geo., Director of Indigo Exploration Inc., is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.
Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, exploration plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in the Company's MD&A filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Indigo Exploration Inc.
Tim Henneberry
(604) 681-3422
Tim Henneberry
(604) 681-3422
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Mining Stocks; Goldeye (TSX VENURE:GGY) Commences New Drilling Program at Shining Tree-10,000 Metres Planned
Mining Stocks; Goldeye (TSX VENURE:GGY) Commences New Drilling Program at Shining Tree-10,000 Metres Planned
TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog) - Oct. 14, 2010) - Goldeye Explorations Limited (TSX VENURE:GGY) ("Goldeye" or the "Company") is pleased to announce that the diamond drilling contract for the 10,000 metre program has been signed for the Company's Tyrrell properties in the Shining Tree area of Ontario.
The drilling is planned to start on October 15, 2010, with 5,000 metres slated to be completed before Christmas. The entire program is expected to consist of approximately 30 holes and will test and expand the gold mineralization associated with, and adjacent to the Tyrrell Shear Zone ("TSZ").
In addition to the drilling program, Goldeye is exploring a substantial portion of the southern part of its main Tyrrell block with the establishment of a 100 kilometer grid. Geologic mapping, prospecting, soil sampling and geophysics (magnetics and induced polarization) will be employed to provide the initial set of targets for trenching and diamond drilling. Mineralized structures related to and subparallel with the TSZ will receive particular attention.
ABOUT GOLDEYE
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster President and C.E.O. of Goldeye.
The drilling is planned to start on October 15, 2010, with 5,000 metres slated to be completed before Christmas. The entire program is expected to consist of approximately 30 holes and will test and expand the gold mineralization associated with, and adjacent to the Tyrrell Shear Zone ("TSZ").
In addition to the drilling program, Goldeye is exploring a substantial portion of the southern part of its main Tyrrell block with the establishment of a 100 kilometer grid. Geologic mapping, prospecting, soil sampling and geophysics (magnetics and induced polarization) will be employed to provide the initial set of targets for trenching and diamond drilling. Mineralized structures related to and subparallel with the TSZ will receive particular attention.
ABOUT GOLDEYE
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster President and C.E.O. of Goldeye.
For more information, please contact
Goldeye Explorations Limited
Blaine Webster
CEO
(905) 731-9367 or (905) 886-2538
bwebster@goldeye.ca
http://www.goldeye.ca/
Goldeye Explorations Limited
Blaine Webster
CEO
(905) 731-9367 or (905) 886-2538
bwebster@goldeye.ca
http://www.goldeye.ca/
More mining stocks info from Investorideas.com and our Gold and Mining Stocks Blog:
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Wednesday, October 13, 2010
Gold Stocks News; Lake Victoria (OTCBB:LVCA) Reports Encouraging Gold Assays From Singida-Londoni Gold Project, Tanzania
Gold Stocks News; Lake Victoria (OTCBB:LVCA) Reports Encouraging Gold Assays From Singida-Londoni Gold Project, Tanzania
GOLDEN, COLORADO--(http://www.investors.com/ gold and mining stocks ) - Oct. 13, 2010 - Lake Victoria Mining Company, Inc. ("Lake Victoria" or the "Company") (OTCBB:LVCA) is pleased to report initial drill results from the Sambaru 3, 4 and 5 prospect areas within the Singida-Londoni gold project, Tanzania. Drill intercepts include: 13.91 g/t Au over 4 meters; 16.80g/t Au over 2 meters; 23.6g/t Au over 1 meter; 4.14g/t Au over 5 meters and 1.15 g/t Au over 21 meters. A number of higher grade zones are included in these intervals and are listed in Table 1; a tabulation of the new results is expected to be posted in the near future on the Lake Victoria corporate website.
Notes: 34.286 grams of gold/metric tonne = 1 Troy ounce of gold/short ton;
g/t = grams/metric tonne; Au is the chemical symbol for gold.
The mineralized interval represents the length of the drill hole intercept, and is not the true horizontal width of the mineralized structure.
These initial results, represent a total of 3,600 meters of recently completed reverse circulation drilling from within three of five target areas, and the results demonstrate the presence of high grade, narrow gold-rich zones from the central to the northwestern part of the five kilometer long Singida-Londoni gold project area.
Roger Newell, Ph.D. and Chairman of the Board, said, "I am very pleased that these 13 drill holes have found high grade gold below the artisanal workings, and I am confident that many of the remaining holes will continue to report important gold assays. This kind of early drill success is very unusual in a brand new gold project, and Clive King, our Qualified Person and his geological team are doing an excellent of job of finding the ore controls in this large, complex and exciting gold property. While we are anxious to learn about additional assay results from holes that have already been drilled, it appears we are embarking upon a whole new greenstone belt and a related exploration/mining area in Tanzania."
Sambaru 3 Target Zone
At Sambaru 3, at least four mineralized zones have been intercepted on one drill fence (News Release – 7th September 2010). These four zones have been partly traced to the corresponding drill fences over a strike length of about 160 meters.
Sambaru 4 Target Zone
At Sambaru 4, drill results from immediately west of the active artisanal mine area (News Release – 28th September 2010) indicate that the main 2 to 4 meter wide artisanal mining zone averaging 2.41g/t Au has now been traced for some 120 meters along strike. This main zone appears to also be present along strike to the northwest at a distance of about 620 meters within the central part of Sambaru 4. Drilling has also traced two additional mineralized zones along a strike distance of about 160 meters. The best intersection of 37.30g/t Au over 1 meter was within in a 4 meter wide, massive arsenopyrite gold-bearing sulphide zone that averaged 13.91g/t Au within the central Sambaru 4 target area.
Sambaru 5 Target Zone
At Sambaru 5, in the northwestern part of the licence area, one borehole averaged 16.80g/t Au over 2 meters within a narrow zone of arsenopyrite. The mineralized intercepts in Sambaru 3, 4 and 5 occur less than 70 meters below surface.
A planned 1,000 meter drill program is currently underway at the Sambaru 2 target which is the largest location of artisanal workings within the licence area.
Preliminary positive visual drill results are reported from the drill site and include geological rock observations and gold panned minerals from a number of drill samples within the central artisanal mine area; additional information concerning this drill program is planned to be provided in the near future.
Analytical work is being carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples are subject to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) are being used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 4 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicates the presence of visible gold or gold-bearing sulphides.
The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company's production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.
Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria's exploration program and has reviewed and verified the technical information contained in this news release. Clive King, registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09).
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa's third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio. Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com.
Disclaimer
This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Canadian provincial securities laws applicable to the Company. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration programs and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on July 14, 2010, which is on file with the Securities and Exchange Commission, as well as the Company's periodic filings available at www.sec.gov and with Canadian Securities Administrators at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "mineralized zones" which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our annual report on Form 10-K. This press release contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Table 1.Summary of Reverse Circulation Drill Results from Sambaru 3, 4 and 5
| Total Depth | *North | *East | Azimuth | Declin. | From | To | Interval | Grade | ||||||||||||
| Hole No. | (m) | Section | Co-ord | Co-ord | (deg) | (deg) | (m) | (m) | (m) | Au g/t | ||||||||||
| Sambaru 3 | ||||||||||||||||||||
| SGRC0004 | 80 | 2580W | 9412284 | 727015 | 40 | -55 | 2 | 7 | 5 | 4.14 | ||||||||||
| SGRC0008 | 93 | 2500W | 9412254 | 727088 | 40 | -60 | 31 | 38 | 7 | 1.78 | ||||||||||
| and | 44 | 65 | 21 | 1.15 | ||||||||||||||||
| and | 75 | 78 | 3 | 2.17 | ||||||||||||||||
| (including 1 meter @ 5.39g/t Au) | ||||||||||||||||||||
| and | 82 | 87 | 5 | 1.56 | ||||||||||||||||
| SGRC0014 | 74 | 2660W | 9412336 | 726950 | 40 | -55 | 58 | 59 | 1 | 23.6 | ||||||||||
| Sambaru 4 | ||||||||||||||||||||
| SGRC0019 | 100 | 3520W | 9412796 | 726195 | 40 | -55 | 11 | 13 | 2 | 0.88 | ||||||||||
| SGRC0023 | 77 | 3760W | 9413004 | 726056 | 40 | -55 | 53 | 63 | 10 | 1.14 | ||||||||||
| and | 69 | 70 | 1 | 7.19 | ||||||||||||||||
| SGRC0041 | 99 | 3760W | 9413070 | 726115 | 220 | -50 | 24 | 26 | 2 | 0.9 | ||||||||||
| and | 71 | 83 | 12 | 2.81 | ||||||||||||||||
| (including 1 meter @ 18.10g/t Au) | ||||||||||||||||||||
| SGRC0024 | 109 | 3840W | 9413066 | 726003 | 40 | -55 | 67 | 71 | 4 | 13.91 | ||||||||||
| (including 1 meter @ 37.30g/t Au) | ||||||||||||||||||||
| SGRC0043 | 124 | 3840W | 9413150 | 726066 | 220 | -50 | 73 | 74 | 1 | 6.33 | ||||||||||
| SGRC0025 | 70 | 3920W | 9413146 | 725978 | 40 | -55 | 41 | 45 | 4 | 3.85 | ||||||||||
| (including 1 meter @ 10.20g/t Au) | ||||||||||||||||||||
| SGRC0045 | 114 | 3020W | 9412490 | 726620 | 220 | -55 | 86 | 88 | 2 | 3.22 | ||||||||||
| SGRC0046 | 92 | 3140W | 9412524 | 726485 | 40 | -50 | 32 | 36 | 4 | 2.01 | ||||||||||
| Sambaru 5 | ||||||||||||||||||||
| SGRC0039 | 80 | 4640W | 9413876 | 725625 | 40 | -55 | 52 | 54 | 2 | 16.8 | ||||||||||
| (including 1 meter @ 22.10g/t Au) | ||||||||||||||||||||
| * Datum Arc 1960 | ||||||||||||||||||||
g/t = grams/metric tonne; Au is the chemical symbol for gold.
The mineralized interval represents the length of the drill hole intercept, and is not the true horizontal width of the mineralized structure.
These initial results, represent a total of 3,600 meters of recently completed reverse circulation drilling from within three of five target areas, and the results demonstrate the presence of high grade, narrow gold-rich zones from the central to the northwestern part of the five kilometer long Singida-Londoni gold project area.
Roger Newell, Ph.D. and Chairman of the Board, said, "I am very pleased that these 13 drill holes have found high grade gold below the artisanal workings, and I am confident that many of the remaining holes will continue to report important gold assays. This kind of early drill success is very unusual in a brand new gold project, and Clive King, our Qualified Person and his geological team are doing an excellent of job of finding the ore controls in this large, complex and exciting gold property. While we are anxious to learn about additional assay results from holes that have already been drilled, it appears we are embarking upon a whole new greenstone belt and a related exploration/mining area in Tanzania."
Sambaru 3 Target Zone
At Sambaru 3, at least four mineralized zones have been intercepted on one drill fence (News Release – 7th September 2010). These four zones have been partly traced to the corresponding drill fences over a strike length of about 160 meters.
Sambaru 4 Target Zone
At Sambaru 4, drill results from immediately west of the active artisanal mine area (News Release – 28th September 2010) indicate that the main 2 to 4 meter wide artisanal mining zone averaging 2.41g/t Au has now been traced for some 120 meters along strike. This main zone appears to also be present along strike to the northwest at a distance of about 620 meters within the central part of Sambaru 4. Drilling has also traced two additional mineralized zones along a strike distance of about 160 meters. The best intersection of 37.30g/t Au over 1 meter was within in a 4 meter wide, massive arsenopyrite gold-bearing sulphide zone that averaged 13.91g/t Au within the central Sambaru 4 target area.
Sambaru 5 Target Zone
At Sambaru 5, in the northwestern part of the licence area, one borehole averaged 16.80g/t Au over 2 meters within a narrow zone of arsenopyrite. The mineralized intercepts in Sambaru 3, 4 and 5 occur less than 70 meters below surface.
A planned 1,000 meter drill program is currently underway at the Sambaru 2 target which is the largest location of artisanal workings within the licence area.
Preliminary positive visual drill results are reported from the drill site and include geological rock observations and gold panned minerals from a number of drill samples within the central artisanal mine area; additional information concerning this drill program is planned to be provided in the near future.
Analytical work is being carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples are subject to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) are being used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 4 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicates the presence of visible gold or gold-bearing sulphides.
The reader is cautioned that the potential quantity and grade of the regional exploration target is conceptual in nature; it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. The Company's production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.
Clive King, P.Geo, a Qualified Person as such term is defined in Canadian National Instrument 43-101, is responsible for monitoring the supervision and quality control of Lake Victoria's exploration program and has reviewed and verified the technical information contained in this news release. Clive King, registered with the South African Council of Natural Scientific Professions (Pr.Sci.Nat Reg. No. 400065/09).
About the Company
Lake Victoria Mining Company, Inc. is working to create another gold mine in the world famous Lake Victoria Greenstone Belt, Tanzania, East Africa. Tanzania is Africa's third largest gold producer, behind South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year. Lake Victoria holds eleven prospective gold projects and five uranium projects within its Tanzania property portfolio. Additional information regarding the Company is available on the corporate website at: www.lakevictoriaminingcompany.com.
Disclaimer
This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Canadian provincial securities laws applicable to the Company. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration programs and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on July 14, 2010, which is on file with the Securities and Exchange Commission, as well as the Company's periodic filings available at www.sec.gov and with Canadian Securities Administrators at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this press release, such as "mineralized zones" which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our annual report on Form 10-K. This press release contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
For more information, please contact
Lake Victoria Mining Company, Inc.
David T. Kalenuik
President and CEO
303-586-1390
www.lvcamining.com
www.lakevictoriaminingcompany.com
Lake Victoria Mining Company, Inc.
David T. Kalenuik
President and CEO
303-586-1390
www.lvcamining.com
www.lakevictoriaminingcompany.com
More mining stocks info from Investorideas.com and our Gold and Mining Stocks Blog:
Visit Investorideas.com leading mining portals - www.gold-miningstocks.com and www.miningsectorstocks.com to get stock news, directories and showcase mining stocks to follow. Gold and mining investors can research stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges. The investorideas.com mining stock directory lists over 1100 publicly traded mining stocks for investors. Preview the directory here : http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Mining stocks - become a showcase mining stock at www.investorideas.com and see your news and online traction grow immediately for as little as $500 month !
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