Investorideas.com - Gold Stocks; Gold Bullion (TSX-V: GBB) nears halfway mark of Phase 2 drill program
VANCOUVER - July 13, 2010 (Investorideas.com Mining stocks Newswire) - Mr. Frank J. Basa reports: Gold Bullion Development Corp. (TSX.V: GBB) (the "Company" or "Gold Bullion"), is pleased to report that a 20,000 metre Phase 2 drill program at its 100% owned Granada Gold Property is proceeding ahead of schedule with a total of 9000 metres (47 holes) completed as of this morning. Granada, five kilometers south of Rouyn-Noranda, Quebec, is situated along the prolific "Cadillac Trend" where numerous multi-million ounce gold deposits have been discovered.
While one Landdrill International Inc. rig is handling infill drilling at 30-metre spacing within the LONG Bars Zone Preliminary Block Model, the other drill rig is in the Phase 1 east-northeast discovery area in an effort to further define the extent of mineralization near surface and below 150 metres vertical depth in this part of the LONG Bars Zone. Drilling in this promising area has totaled nearly 4,000 metres (17 holes) so far and is consistently intersecting multiple zones of altered feldspar porphyry, favorable for gold mineralization, along with some quartz veining in all directions surrounding discovery hole GR-10-17. Visible gold has been observed in a few of the holes.
Drilling is gradually pushing east of GR-10-17 as GENIVAR, Gold Bullion's geological consultant, continues to test a number of auriferous structures contained within a wide, east-west trending zone of shearing, alteration and quartz veining. In a significant development, GENIVAR has planned a deep hole (365 metres vertical depth) 176 metres east-southeast of GR-10-17. Drilling of this target, which would be the deepest hole drilled so far by Gold Bullion at Granada, is expected to commence within the next day or two and is designed to confirm an extension of altered zones that have been discovered in other Phase 2 holes 75 metres to the northwest and southwest, respectively.
Gold Bullion's 4,900 hectare land package extends several kilometers east of GR-10-17 (the easternmost hole drilled in Phase 1) which includes an area the Company is now calling "LONG Bars Zone 2". Historically defined as part of the Granada "Eastern Extension", numerous gold showings in LONG Bars Zone 2 were reported as far back as the 1930's and in an exploration program conducted by KWG Resources in the early 1990's. GENIVAR continues to compile information on LONG Bars Zone 2 which is 1800 metres or 1.5 kilometres east of GR-10-17 and includes a 1 kilometre long shear zone. This area received considerable historical attention but was not viewed in the context of the new geological interpretation of Granada as a potential near-surface, bulk tonnage deposit amenable to open-pit mining.
Several northeasterly fault zones cross the shear zone and are considered prime targets for possible economic gold concentrations. Numerous vein zones, hosted by both Granada Formation conglomerate and feldspar porphyry, have been delineated historically in LONG Bars Zone 2 through trenching with considerable visible gold noted. The auriferous veins reportedly widen with depth and occur in an east-west trending zone measuring at least 1200 metres in length and 200 meters in width.
With similar geological characteristics to the original and current LONG Bars Zone, LONG Bars Zone 2 is a high priority exploration target for Gold Bullion and has the potential of significantly impacting both the scale and geometry of the overall mineralized system at Granada.
"We're thrilled with the rapid progress we're making as we attempt to define an economic, bulk tonnage deposit at Granada, or a series of deposits, amenable to open-pit mining," stated Gold Bullion President and CEO Frank Basa. "LONG Bars Zone 2 adds a whole new dimension to Granada and we look forward to exploring this highly prospective area. Our Preliminary Block Model is very exciting and continues to hold considerable potential as exploratory, infill and definition drilling take place there, but the possibilities for Granada outside the Preliminary Block Model are really starting to come into focus. We're confident we're expanding the LONG Bars Zone strike length with encouraging Phase 2 indications around GR-10-17, and now we have a LONG Bars Zone 2 to give Granada further exploration upside. Combined with our 30,000 tonne bulk sample in 2007 that graded 1.62 g/t Au, we have complete confidence we're on the right track with this very large project," Basa concluded.
With such extensive drilling which started in early May, Gold Bullion is using two assay labs. The Company is eagerly awaiting the first set of results, expected in the near future, but has been advised of delays at both labs due to normal processing backlogs with a large number of core samples from numerous companies being analyzed. Results will be reported as soon as they are available and reviewed.
Mineralization in the LONG Bars Zone is open in all directions.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture listed junior natural resource company focusing on the exploration and development of its Granada Gold Property near Rouyn-Noranda, Quebec, and its high grade Castle Silver Mine in Gowganda, Ontario.
For more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC PK: GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.com.
Qualified Person
The scientific and technical information in this release was prepared under the supervision of Mr. Frank J. Basa, P.Eng., Gold Bullion's CEO and President who is a member of the Ontario Association of Professional Engineers and a "qualified" person in accordance with National Instrument 43-101.
"Frank J. Basa"Frank J. Basa, P.Eng.President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
For further information
Frank J. Basa, P.Eng., President and CEO: 1-416-625-2342Roger Thomas, Director: 1-613-292-2438
Visit the GBB showcase profile at Investorideas.com Request News and Info on GBB
Disclosure, Disclaimer/ GBB is a paid advertising client on Investorideas.com and our mining portals.
Tuesday, July 13, 2010
Investorideas.com - InvestorIdeas – Investing in Lithium – Q&A
InvestorIdeas.com – Investing in Lithium – Q&A with Guillermo Trias, the founder and managing partner of MC CAPITAL
July 13, 2010 (Investorideas.com mining stocks newswire) Investorideas.com and its mining portals present a Q&A interview on the topic of investing in Lithium with Guillermo Trias, the founder and managing partner of MC CAPITAL. MC CAPITAL is a Miami-based venture-stage investment management firm.
Q: Investorideas.com
1. Lithium batteries currently are used in cell phones and PC's and other applications - can you explain to investors the role lithium batteries will play with electric vehicles?
A: Mr. Guillermo Trias
Lithium ion batteries are becoming the best choice for electric vehicles, among other reasons, because lithium-ion stores three times the amount of energy and is much lighter than existing competing technologies.
As of today, almost an insignificant amount of the lithium consumption in the market is used in batteries for cars. That being said, according to a recent study from the Boston Consulting Group, 26% of the new cards sold in 2020 (approx. 14 million cars) will have Lithium ion-batteries. The market for electric car batteries in that year will be worth some 25 billion. This will be about triple the size of today’s entire lithium-ion-battery market used for laptops and cell phones.
How this will impact the overall market?
Competition for that buoyant market is already going on all along the industry value chain. A strong current of alliances and joint ventures is underway too. Innovation is spreading and will continue to spread throughout the value chain. Also, the government will play an important role to ensure that companies employ battery and electric car technology.
Q: Investorideas.com
2. We read recent research data that shows the market for electric vehicles is anticipated to reach 32.7 million autos shipped by 2015, if this data is correct, how do you see the supply/demand chain rolling out?
A: Mr. Guillermo Trias
There is a lot of noise out there on the supply and demand for Lithium, but still there is some confusion. In our opinion, the confusion combined with the growing demand has the potential to open huge opportunities in the market.
On the Supply side, competition for market share will significantly increase among players throughout the value chain, bringing volumes up and prices down. On the demand side, market enthusiasm for these green technologies will translate into a highly-informed consumer - one that is aiming for greener, safer and more economic cars.
The way we see the supply/demand right now is that even if there is an abundance of lithium in the market today, anticipated developments in the marketplace, such as the development of the electric car and clean tech industries will significantly impact the global demand of Lithium.
Q: Investorideas.com
3. What countries and markets are dominant in the lithium market?
A: Mr. Guillermo Trias
Regarding the supply side, South America is at the epicenter of the Lithium’s future. The largest salt-brine lithium reserves (where lithium can most easily be acquired) are found in salt flats in Chile, southwestern Bolivia and northwestern Argentina. Currently, Chile is the world’s largest lithium producer. Argentina is also a major player. This country has attracted a variety of junior miners that are carrying out studies to jumpstart development in new areas. Bolivia has one of the largest lithium deposits in the world and promises to be one of the leading players in securing a lithium supply in the future. Other countries with significant reserves are China, Russia, Serbia, Australia and Canada
On the demand side, the US, Western Europe, China and Japan lead the lists. Regarding technology innovation, it is interesting to highlight that lithium-ion technology patents filed in China, Japan the US and Western Europe in 2008 grew 26% from 2005.
Q: Investorideas.com
4. What should investors be looking for when researching lithium stocks?
A: Mr. Guillermo Trias
Besides the opportunity for high growth returns associated with lithium, or what we like to refer to as “green gold”, they should look at an appropriate balance of exposure as well as protection from the systemic risks associated to these stocks, in the form of political and economic instability, industry fundamentals, both country and region-specific. The way to mitigate those risks is to diversify accordingly – horizontal and vertical diversification within the industry, getting exposure to the product while staying away from the operational risks of local environments by investing through publicly traded securities. A listed product like an ETF representing companies all along the value chain, transparent on the underlying companies, and with indicative net asset value, is the safest way to invest in the lithium movement and get exposure to the entire supply chain.
Q: Investorideas.com
5. What are the potential problems in the lithium battery markets moving forward?
A: Mr. Guillermo Trias
One area of concern is the potential for safety issues - any small problem could turn public opinion against electric mobility and set back industry development for month of years. The time required to charge the lithium-ion batteries used in electric cars also presents a potential obstacle for the development of these markets. On the technical and engineering side of the market, limited driving range of the electric vehicles might change the direction of the market. Finally, the sudden dramatic decrease in oil prices could threaten the demand for lithium ion batteries going forward.
Q: Investorideas.com
6. For investors sitting on the fence in this market - can you hi-lite some of the driving forces (including the Electric Vehicle Deployment Act) in the short term that might motivate them to step in?
A: Mr. Guillermo Trias
The Lithium market will develop rapidly over the next 10 years as a consequence of the critical importance that this metal has to the clean tech, automotive, and tech industries. As it did in the last few decades, Lithium will continue to be a key resource in traditional industrial processes and products, which include aluminum, glass/ceramics, grease, air-conditioning, etc. World demand has almost doubled in the past 10 years as have tonnage prices. While demand has dropped by about 10% due to the worldwide recession, it is now back on a strong growth track.
However, the really exciting role for lithium is its use in the renewable energy market. Starting in the 1990’s, lithium ion was developed as an energy storage material. It is lighter and with more storage capacity by a factor of than any other materials. Lithium will become critical for the development of highly efficient storage systems for clean technologies:
Batteries for electric vehicles and for the computer systems that control the vehicles.
Batteries to store excess energy produced by wind, solar and water systems
Batteries for computer control systems in residential homes to efficiently manage electric usage - the “Smart Grid”, which is now a national priority
Market demand will also be driven by the development of new environmental policies in highly populated countries in Asia. Countries like China or India have the opportunity to establish and implement the regulatory framework to force a massive adoption of the electric vehicle among their citizens, in order to overcome the huge environmental challenges that their polluted cities face.
About our Mining Portals:
www.Gold-MiningStocks.com and www.MiningSectorStocks.com, portals within the InvestorIdeas.com® content umbrella, 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. Mining stocks and industry experts are invited to submit news, articles and research.
Visit our showcase mining and gold stockshttp://www.investorideas.com/Showcase/Gold-Stocks.asp
Sponsored Lithium Stocks at Investorideas.com
North Arrow Minerals Inc.
North Arrow Minerals Inc. (TSX-V: NAR) manages a diversified portfolio of lithium, gold, base metal, and diamond properties. North Arrow's exploration activities are conducted under the direction of an experienced management team that has a record of successful mineral deposit and mine discovery.
North Arrow's current focuses are its lithium and diamond projects. Lithium projects include the North Carolina (Beaverdam), Nunuvut (Torp) and Northwest Territories (Phoenix) projects. Diamond projects include the Northwest Territories (Lac de Gras) and Nunavut (Hammer) projects.
Rodinia Lithium Inc. - Lithium for a Green Future
Rodinia Lithium Inc. (TSX-V: RM) (OTCQX: RDNAF) is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Diablillos project in Salta, Argentina.
Bio for Mr. Guillermo Trias:
Guillermo Trias is the founder and managing partner of MC CAPITAL, a Miami-based venture-stage investment management firm focused on business opportunities in Latin America.
A serial entrepreneur, in 2003 he founded SOLEX PARTNERS, the largest importer and distributor of foods & wines from Spain in the American Midwest headquartered in Chicago. In 2008 he led the merger of the company with an American distributor.
Prior to this, he was an investment banker with DEUTSCHE BANK in London and Madrid where he worked advising large European multinational corporations (Telefonica, Sidenor, etc.) in their acquisitions in Latin America. During his tenure at the bank, Guillermo was involved in Mergers & Acquisitions transactions involving clients in telecommunications, finance, consumer goods and other industries.
Guillermo has also worked with ABN AMRO in private equity investing, analyzing investment opportunities in different industries.
He holds an MBA from the Kellogg School of Management where he majored in Entrepreneurship, Marketing and Non-profit Management. He received a scholarship from CAJAMADRID, which financed 100% of its education in the US.
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. This site is currently compensated by featured companies, news submissions and online advertising. All showcase and sponsor mining stocks featured in this article (RM and NAR) and on http://www.investorideas.com/Showcase/Gold-Stocks.asp are online advertising clients on Investorideas.com and compensate the site.Disclaimer http://www.investorideas.com/About/Disclaimer.aspDisclosure http://www.investorideas.com/About/News/Clientspecifics.asp
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Mining companies visit: Mining Stocks Investor Awareness Programshttp://www.investorideas.com/Investors/Mining_Stocks_Investor_Awareness.asp
For more information contact: Investorideas.com
800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
July 13, 2010 (Investorideas.com mining stocks newswire) Investorideas.com and its mining portals present a Q&A interview on the topic of investing in Lithium with Guillermo Trias, the founder and managing partner of MC CAPITAL. MC CAPITAL is a Miami-based venture-stage investment management firm.
Q: Investorideas.com
1. Lithium batteries currently are used in cell phones and PC's and other applications - can you explain to investors the role lithium batteries will play with electric vehicles?
A: Mr. Guillermo Trias
Lithium ion batteries are becoming the best choice for electric vehicles, among other reasons, because lithium-ion stores three times the amount of energy and is much lighter than existing competing technologies.
As of today, almost an insignificant amount of the lithium consumption in the market is used in batteries for cars. That being said, according to a recent study from the Boston Consulting Group, 26% of the new cards sold in 2020 (approx. 14 million cars) will have Lithium ion-batteries. The market for electric car batteries in that year will be worth some 25 billion. This will be about triple the size of today’s entire lithium-ion-battery market used for laptops and cell phones.
How this will impact the overall market?
Competition for that buoyant market is already going on all along the industry value chain. A strong current of alliances and joint ventures is underway too. Innovation is spreading and will continue to spread throughout the value chain. Also, the government will play an important role to ensure that companies employ battery and electric car technology.
Q: Investorideas.com
2. We read recent research data that shows the market for electric vehicles is anticipated to reach 32.7 million autos shipped by 2015, if this data is correct, how do you see the supply/demand chain rolling out?
A: Mr. Guillermo Trias
There is a lot of noise out there on the supply and demand for Lithium, but still there is some confusion. In our opinion, the confusion combined with the growing demand has the potential to open huge opportunities in the market.
On the Supply side, competition for market share will significantly increase among players throughout the value chain, bringing volumes up and prices down. On the demand side, market enthusiasm for these green technologies will translate into a highly-informed consumer - one that is aiming for greener, safer and more economic cars.
The way we see the supply/demand right now is that even if there is an abundance of lithium in the market today, anticipated developments in the marketplace, such as the development of the electric car and clean tech industries will significantly impact the global demand of Lithium.
Q: Investorideas.com
3. What countries and markets are dominant in the lithium market?
A: Mr. Guillermo Trias
Regarding the supply side, South America is at the epicenter of the Lithium’s future. The largest salt-brine lithium reserves (where lithium can most easily be acquired) are found in salt flats in Chile, southwestern Bolivia and northwestern Argentina. Currently, Chile is the world’s largest lithium producer. Argentina is also a major player. This country has attracted a variety of junior miners that are carrying out studies to jumpstart development in new areas. Bolivia has one of the largest lithium deposits in the world and promises to be one of the leading players in securing a lithium supply in the future. Other countries with significant reserves are China, Russia, Serbia, Australia and Canada
On the demand side, the US, Western Europe, China and Japan lead the lists. Regarding technology innovation, it is interesting to highlight that lithium-ion technology patents filed in China, Japan the US and Western Europe in 2008 grew 26% from 2005.
Q: Investorideas.com
4. What should investors be looking for when researching lithium stocks?
A: Mr. Guillermo Trias
Besides the opportunity for high growth returns associated with lithium, or what we like to refer to as “green gold”, they should look at an appropriate balance of exposure as well as protection from the systemic risks associated to these stocks, in the form of political and economic instability, industry fundamentals, both country and region-specific. The way to mitigate those risks is to diversify accordingly – horizontal and vertical diversification within the industry, getting exposure to the product while staying away from the operational risks of local environments by investing through publicly traded securities. A listed product like an ETF representing companies all along the value chain, transparent on the underlying companies, and with indicative net asset value, is the safest way to invest in the lithium movement and get exposure to the entire supply chain.
Q: Investorideas.com
5. What are the potential problems in the lithium battery markets moving forward?
A: Mr. Guillermo Trias
One area of concern is the potential for safety issues - any small problem could turn public opinion against electric mobility and set back industry development for month of years. The time required to charge the lithium-ion batteries used in electric cars also presents a potential obstacle for the development of these markets. On the technical and engineering side of the market, limited driving range of the electric vehicles might change the direction of the market. Finally, the sudden dramatic decrease in oil prices could threaten the demand for lithium ion batteries going forward.
Q: Investorideas.com
6. For investors sitting on the fence in this market - can you hi-lite some of the driving forces (including the Electric Vehicle Deployment Act) in the short term that might motivate them to step in?
A: Mr. Guillermo Trias
The Lithium market will develop rapidly over the next 10 years as a consequence of the critical importance that this metal has to the clean tech, automotive, and tech industries. As it did in the last few decades, Lithium will continue to be a key resource in traditional industrial processes and products, which include aluminum, glass/ceramics, grease, air-conditioning, etc. World demand has almost doubled in the past 10 years as have tonnage prices. While demand has dropped by about 10% due to the worldwide recession, it is now back on a strong growth track.
However, the really exciting role for lithium is its use in the renewable energy market. Starting in the 1990’s, lithium ion was developed as an energy storage material. It is lighter and with more storage capacity by a factor of than any other materials. Lithium will become critical for the development of highly efficient storage systems for clean technologies:
Batteries for electric vehicles and for the computer systems that control the vehicles.
Batteries to store excess energy produced by wind, solar and water systems
Batteries for computer control systems in residential homes to efficiently manage electric usage - the “Smart Grid”, which is now a national priority
Market demand will also be driven by the development of new environmental policies in highly populated countries in Asia. Countries like China or India have the opportunity to establish and implement the regulatory framework to force a massive adoption of the electric vehicle among their citizens, in order to overcome the huge environmental challenges that their polluted cities face.
About our Mining Portals:
www.Gold-MiningStocks.com and www.MiningSectorStocks.com, portals within the InvestorIdeas.com® content umbrella, 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. Mining stocks and industry experts are invited to submit news, articles and research.
Visit our showcase mining and gold stockshttp://www.investorideas.com/Showcase/Gold-Stocks.asp
Sponsored Lithium Stocks at Investorideas.com
North Arrow Minerals Inc.
North Arrow Minerals Inc. (TSX-V: NAR) manages a diversified portfolio of lithium, gold, base metal, and diamond properties. North Arrow's exploration activities are conducted under the direction of an experienced management team that has a record of successful mineral deposit and mine discovery.
North Arrow's current focuses are its lithium and diamond projects. Lithium projects include the North Carolina (Beaverdam), Nunuvut (Torp) and Northwest Territories (Phoenix) projects. Diamond projects include the Northwest Territories (Lac de Gras) and Nunavut (Hammer) projects.
Rodinia Lithium Inc. - Lithium for a Green Future
Rodinia Lithium Inc. (TSX-V: RM) (OTCQX: RDNAF) is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Diablillos project in Salta, Argentina.
Bio for Mr. Guillermo Trias:
Guillermo Trias is the founder and managing partner of MC CAPITAL, a Miami-based venture-stage investment management firm focused on business opportunities in Latin America.
A serial entrepreneur, in 2003 he founded SOLEX PARTNERS, the largest importer and distributor of foods & wines from Spain in the American Midwest headquartered in Chicago. In 2008 he led the merger of the company with an American distributor.
Prior to this, he was an investment banker with DEUTSCHE BANK in London and Madrid where he worked advising large European multinational corporations (Telefonica, Sidenor, etc.) in their acquisitions in Latin America. During his tenure at the bank, Guillermo was involved in Mergers & Acquisitions transactions involving clients in telecommunications, finance, consumer goods and other industries.
Guillermo has also worked with ABN AMRO in private equity investing, analyzing investment opportunities in different industries.
He holds an MBA from the Kellogg School of Management where he majored in Entrepreneurship, Marketing and Non-profit Management. He received a scholarship from CAJAMADRID, which financed 100% of its education in the US.
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. This site is currently compensated by featured companies, news submissions and online advertising. All showcase and sponsor mining stocks featured in this article (RM and NAR) and on http://www.investorideas.com/Showcase/Gold-Stocks.asp are online advertising clients on Investorideas.com and compensate the site.Disclaimer http://www.investorideas.com/About/Disclaimer.aspDisclosure http://www.investorideas.com/About/News/Clientspecifics.asp
Mining companies can gain ongoing exposure to targeted investors searching for mining stocks by participating in one of the many investor awareness and showcase company programs at Investorideas.com.
Mining companies visit: Mining Stocks Investor Awareness Programshttp://www.investorideas.com/Investors/Mining_Stocks_Investor_Awareness.asp
For more information contact: Investorideas.com
800-665-0411 - dvanzant@investorideas.com or cvanzant@investorideas.com
Tuesday, July 06, 2010
Investorideas.com - Gold Stocks; Wildcat (TSX-V:WEL) Mobilizes to Rice Lake Gold Projects, Provides Update on Reed Lake Base Metal Project, Flin Flon-Snow Lake District
Gold Stocks; Wildcat (TSX-V:WEL) Mobilizes to Rice Lake Gold Projects, Provides Update on Reed Lake Base Metal Project, Flin Flon-Snow Lake District
Visit this company: www.wildcat.ca
Winnipeg, Manitoba - July 6, 2010 (Investorideas.com Mining Stocks Newswire) - Wildcat Exploration Ltd. (TSX-V:WEL) is pleased to announce that it has mobilized two exploration crews to its gold projects in the Rice Lake greenstone belt of Manitoba. In addition, on the Reed Lake project in the Flin Flon Snow Lake greenstone belt of Manitoba the Company's geologists identified two significant areas for further work in preparation for a planned drill program in the 2010/11 winter drilling season.
The Company is conducting work on its 100% owned Mike Power property, located 3 km northwest of the town of Bissett, MB. The Company's geologists are mapping structures and utilizing the results of an airborne magnetic survey, completed in June, to identify potential undercover gold-bearing structures. Wildcat's current work program, which will continue through July, is intended to identify targets for drilling later in the year. The property is on strike with the gold deposits of San Gold Corporation and shares similar host rocks and structures. A drill program is currently being conducted by StrikePoint Gold Inc. and San Gold on ground between the Company's Mike Power project and the San Gold deposits.
Concurrently, a second exploration team is following up previously announced gold and copper occurrences on the Company's Garner property. An airborne geophysical survey of the property, completed by Wildcat in June, has identified conductors associated with known copper mineralization for ground followup. The property is located 40 km southeast of Bissett near former gold producers including the Gunnar and the Central Manitoba mines. The property straddles the area between the West Garner shear zone to the east, which is an important metamorphic boundary, and the Beresford Lake shear zone to the west which is characterized by intense host rock alteration.
Commenting on the Rice Lake projects, Tom Lewis, Wildcat's V.P. Exploration, said, "Following on the successes by San Gold and coupled with our recently acquired airborne data base, our geological mapping team is well-positioned to track gold-bearing structures and identify new depositional sites for drill testing later in 2010."
The 100% owned Reed Lake Project, situated 35 km southwest of the town of Snow Lake, Manitoba, is underlain by volcanic and intrusive rocks belonging to the Flin Flon - Snow Lake greenstone belt. Geophysical data suggest that these rocks trend onto the Reed Lake Project along strike from the Rail copper-zinc deposit of Rockcliff Resources Inc. and the Wine nickel-copper mineralization of Cream Minerals Ltd., both types of which have distinctive conductive signatures. This positions the Reed Lake Project to host either or both deposit types.
Wildcat's recent work program, which included mapping, sampling and surface geophysical surveys with a focus on favourable host rocks and alteration associated with either copper-zinc or nickel-copper mineralization, was cut short by forest fire activity in the general area. In the abbreviated work program a target area was identified near a sample taken in 2008 that assayed 1.58% copper in a shear zone (see news release dated September 23, 2008). Hosting the mineralization are volcanic rocks consisting of volcanoclastic rhyolites, andesites and tuffs, which are known to host volcanogenic massive sulphide (VMS) deposits in Flin Flon and elsewhere. In addition, chlorite alteration was mapped in association with the copper mineralization. Chlorite represents an important indicator alteration mineral associated with the hydrothermal activity (pipes) that introduce copper and zinc sulphides in a VMS deposit.
A second area hosted in gabbroic rocks on the western portion of the property was found. This area holds potential for nickel-copper-platinum group elements mineralization. Channel samples were cut from the rocks exhibiting blebby and disseminated sulphides which will be submitted for analysis.
The Company recently staked additional claims on the northeast flank of the property, increasing the total area to 8,037 hectares in 43 contiguous claims. The planned geological mapping and sampling on the new claims will be carried out in a second Reed Lake program in the third quarter of 2010.
Tom Lewis commented, "We are pleased that our work on the Reed Lake Project has identified favourable geological features including host rocks and alteration essential to the deposition of base metals in an area with known copper mineralization. This work has narrowed our search and the next phase, planned for the third quarter, will involve an electromagnetic survey to test the favourable areas, with winter drilling contingent on the survey results."
Wildcat's exploration program is being managed by Tom Lewis, B.Sc. P.Eng., a Qualified Person as defined by NI 43-101. All technical information in this release has been reviewed by Tom Lewis, B.Sc. P.Eng., as the Qualified Person.
About Wildcat Exploration Ltd.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several precious metal properties in the Rice Lake greenstone belt in Manitoba, (2) the Reed Lake base metal and PGE property in the Flin Flon greenstone belt in Manitoba and (3) the Foster River zinc-lead-silver project in Saskatchewan. As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.
For further information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca. The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information.. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
Contact:
John KnowlesWildcat Exploration Ltd.President CEO(204) 944-8916(204) 944-8918 (FAX)
Suite 203, 1780 Wellington AvenueWildcat Exploration Ltd.Winnipeg, Manitoba, R3H 1B3info@wildcat.cawww.wildcat.ca
Source: Wildcat Exploration Ltd.
Visit the WEL showcase profile at Investorideas.com Request News and Info on WEL Disclosure, Disclaimer/ WEL is a paid advertising client on Investorideas.com and our mining portals.
Visit this company: www.wildcat.ca
Winnipeg, Manitoba - July 6, 2010 (Investorideas.com Mining Stocks Newswire) - Wildcat Exploration Ltd. (TSX-V:WEL) is pleased to announce that it has mobilized two exploration crews to its gold projects in the Rice Lake greenstone belt of Manitoba. In addition, on the Reed Lake project in the Flin Flon Snow Lake greenstone belt of Manitoba the Company's geologists identified two significant areas for further work in preparation for a planned drill program in the 2010/11 winter drilling season.
The Company is conducting work on its 100% owned Mike Power property, located 3 km northwest of the town of Bissett, MB. The Company's geologists are mapping structures and utilizing the results of an airborne magnetic survey, completed in June, to identify potential undercover gold-bearing structures. Wildcat's current work program, which will continue through July, is intended to identify targets for drilling later in the year. The property is on strike with the gold deposits of San Gold Corporation and shares similar host rocks and structures. A drill program is currently being conducted by StrikePoint Gold Inc. and San Gold on ground between the Company's Mike Power project and the San Gold deposits.
Concurrently, a second exploration team is following up previously announced gold and copper occurrences on the Company's Garner property. An airborne geophysical survey of the property, completed by Wildcat in June, has identified conductors associated with known copper mineralization for ground followup. The property is located 40 km southeast of Bissett near former gold producers including the Gunnar and the Central Manitoba mines. The property straddles the area between the West Garner shear zone to the east, which is an important metamorphic boundary, and the Beresford Lake shear zone to the west which is characterized by intense host rock alteration.
Commenting on the Rice Lake projects, Tom Lewis, Wildcat's V.P. Exploration, said, "Following on the successes by San Gold and coupled with our recently acquired airborne data base, our geological mapping team is well-positioned to track gold-bearing structures and identify new depositional sites for drill testing later in 2010."
The 100% owned Reed Lake Project, situated 35 km southwest of the town of Snow Lake, Manitoba, is underlain by volcanic and intrusive rocks belonging to the Flin Flon - Snow Lake greenstone belt. Geophysical data suggest that these rocks trend onto the Reed Lake Project along strike from the Rail copper-zinc deposit of Rockcliff Resources Inc. and the Wine nickel-copper mineralization of Cream Minerals Ltd., both types of which have distinctive conductive signatures. This positions the Reed Lake Project to host either or both deposit types.
Wildcat's recent work program, which included mapping, sampling and surface geophysical surveys with a focus on favourable host rocks and alteration associated with either copper-zinc or nickel-copper mineralization, was cut short by forest fire activity in the general area. In the abbreviated work program a target area was identified near a sample taken in 2008 that assayed 1.58% copper in a shear zone (see news release dated September 23, 2008). Hosting the mineralization are volcanic rocks consisting of volcanoclastic rhyolites, andesites and tuffs, which are known to host volcanogenic massive sulphide (VMS) deposits in Flin Flon and elsewhere. In addition, chlorite alteration was mapped in association with the copper mineralization. Chlorite represents an important indicator alteration mineral associated with the hydrothermal activity (pipes) that introduce copper and zinc sulphides in a VMS deposit.
A second area hosted in gabbroic rocks on the western portion of the property was found. This area holds potential for nickel-copper-platinum group elements mineralization. Channel samples were cut from the rocks exhibiting blebby and disseminated sulphides which will be submitted for analysis.
The Company recently staked additional claims on the northeast flank of the property, increasing the total area to 8,037 hectares in 43 contiguous claims. The planned geological mapping and sampling on the new claims will be carried out in a second Reed Lake program in the third quarter of 2010.
Tom Lewis commented, "We are pleased that our work on the Reed Lake Project has identified favourable geological features including host rocks and alteration essential to the deposition of base metals in an area with known copper mineralization. This work has narrowed our search and the next phase, planned for the third quarter, will involve an electromagnetic survey to test the favourable areas, with winter drilling contingent on the survey results."
Wildcat's exploration program is being managed by Tom Lewis, B.Sc. P.Eng., a Qualified Person as defined by NI 43-101. All technical information in this release has been reviewed by Tom Lewis, B.Sc. P.Eng., as the Qualified Person.
About Wildcat Exploration Ltd.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) several precious metal properties in the Rice Lake greenstone belt in Manitoba, (2) the Reed Lake base metal and PGE property in the Flin Flon greenstone belt in Manitoba and (3) the Foster River zinc-lead-silver project in Saskatchewan. As the Company builds its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.
For further information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca. The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information.. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
Contact:
John KnowlesWildcat Exploration Ltd.President CEO(204) 944-8916(204) 944-8918 (FAX)
Suite 203, 1780 Wellington AvenueWildcat Exploration Ltd.Winnipeg, Manitoba, R3H 1B3info@wildcat.cawww.wildcat.ca
Source: Wildcat Exploration Ltd.
Visit the WEL showcase profile at Investorideas.com Request News and Info on WEL Disclosure, Disclaimer/ WEL is a paid advertising client on Investorideas.com and our mining portals.
Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) ANNOUNCES THE START OF GEOPHYSICS AT GUADALUPE
Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) ANNOUNCES THE START OF GEOPHYSICS AT GUADALUPE
Visit this company: www.yaleresources.com
July 6, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that the next phase of field work has started at the wholly owned Guadalupe property, located in the heart of the Fresnillo district, on behalf of partner Gold American Mining Inc. (OTC – SILA, previously Silver America Inc.).
The field program underway will include seventeen line kilometres of geophysics (Induced Polarization and Magnetics) as well as additional detailed sampling and mapping. This second phase of exploration is expected to last 3 weeks.
Yale's Mexican staff has recently acquired additional geological data for the Guadalupe property and surrounding area. This data indicates that additional historical workings exist within the property that have not been visited or sampled by Yale to date. Along with the geophysics these new areas will be a focus of this next phase of exploration.
The Guadalupe Property:
The 282.84 hectare Guadalupe Property is located approximately 4 kilometres north of the city of Fresnillo, Zacatecas State, Mexico. The property is approximately 8 kilometres north of the Fresnillo (Proaño) Mine, the world's richest underground silver mine operated by Fresnillo plc. The property is also approximately 11 kilometres northeast of the Juanicipio Joint Venture between MAG Silver Corp. and Fresnillo plc.
The Property contains greater than 20 known workings as well as two historic mines –Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980's. The property is completely surrounded by land controlled by Peñoles (either through Fresnillo or other subsidiaries and partners).
Highlight results from the first phase exploration program were (see news release dated May 13, 2010):
1.00 g/t Au and 946.9 g/t Ag over 1.1m
including 1.83 g/t Au and 1,800.0 g/t Ag over 0.5 m
0.30 g/t Au and 622.0 g/t Ag from a mineralized dump
0.59 g/t Au and 330.0 g/t Ag over 0.7 m
5.35 g/t Au and 1,189.0 g/t Ag from a mineralized dump
Status of Option Agreement:
Gold American has committed to the next period of the Guadalupe option; Yale has received US$20,000 cash as well as an additional 100,000 shares in the Gold American.
To earn a 90% interest Gold American is required to pay Yale US $ 900,000 cash ($40,000 received), spend US $ 2,000,000 on exploration expenditures and issue 1,000,000 shares to Yale (200,000 received) in staged payments over four years. Yale will act as the operator for the project. The minimum work commitment before June 30, 2011 is US $ 400,000 including a minimum of 2,000 metres of drilling. Should the earn-in be completed Yale will retain a 10% participating interest in the property as well as a 2% NSR, which can be bought out in entirety for US $ 2,000,000.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.
Ian Foreman, P.Geo., is Yale Resources’ Qualified Person, as defined by National Instrument 43-101, for the Guadalupe property. The Guadalupe property is an early stage project with no reported resources that requires additional sampling and geological mapping to fully determine the project’s potential.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at 604-678-2531.
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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact:
Yale ResourcesCary Martin, 604-678-2531 ext. 223.
Visit the YLL showcase profile at Investorideas.com Request News and Info on YLL Disclosure, Disclaimer/
YLL is a paid advertising client on Investorideas.com and our mining portals.
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.
Visit this company: www.yaleresources.com
July 6, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that the next phase of field work has started at the wholly owned Guadalupe property, located in the heart of the Fresnillo district, on behalf of partner Gold American Mining Inc. (OTC – SILA, previously Silver America Inc.).
The field program underway will include seventeen line kilometres of geophysics (Induced Polarization and Magnetics) as well as additional detailed sampling and mapping. This second phase of exploration is expected to last 3 weeks.
Yale's Mexican staff has recently acquired additional geological data for the Guadalupe property and surrounding area. This data indicates that additional historical workings exist within the property that have not been visited or sampled by Yale to date. Along with the geophysics these new areas will be a focus of this next phase of exploration.
The Guadalupe Property:
The 282.84 hectare Guadalupe Property is located approximately 4 kilometres north of the city of Fresnillo, Zacatecas State, Mexico. The property is approximately 8 kilometres north of the Fresnillo (Proaño) Mine, the world's richest underground silver mine operated by Fresnillo plc. The property is also approximately 11 kilometres northeast of the Juanicipio Joint Venture between MAG Silver Corp. and Fresnillo plc.
The Property contains greater than 20 known workings as well as two historic mines –Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980's. The property is completely surrounded by land controlled by Peñoles (either through Fresnillo or other subsidiaries and partners).
Highlight results from the first phase exploration program were (see news release dated May 13, 2010):
1.00 g/t Au and 946.9 g/t Ag over 1.1m
including 1.83 g/t Au and 1,800.0 g/t Ag over 0.5 m
0.30 g/t Au and 622.0 g/t Ag from a mineralized dump
0.59 g/t Au and 330.0 g/t Ag over 0.7 m
5.35 g/t Au and 1,189.0 g/t Ag from a mineralized dump
Status of Option Agreement:
Gold American has committed to the next period of the Guadalupe option; Yale has received US$20,000 cash as well as an additional 100,000 shares in the Gold American.
To earn a 90% interest Gold American is required to pay Yale US $ 900,000 cash ($40,000 received), spend US $ 2,000,000 on exploration expenditures and issue 1,000,000 shares to Yale (200,000 received) in staged payments over four years. Yale will act as the operator for the project. The minimum work commitment before June 30, 2011 is US $ 400,000 including a minimum of 2,000 metres of drilling. Should the earn-in be completed Yale will retain a 10% participating interest in the property as well as a 2% NSR, which can be bought out in entirety for US $ 2,000,000.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.
Ian Foreman, P.Geo., is Yale Resources’ Qualified Person, as defined by National Instrument 43-101, for the Guadalupe property. The Guadalupe property is an early stage project with no reported resources that requires additional sampling and geological mapping to fully determine the project’s potential.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at 604-678-2531.
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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact:
Yale ResourcesCary Martin, 604-678-2531 ext. 223.
Visit the YLL showcase profile at Investorideas.com Request News and Info on YLL Disclosure, Disclaimer/
YLL is a paid advertising client on Investorideas.com and our mining portals.
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.
Thursday, July 01, 2010
Investorideas.com - Soltera Mining Corp. (OTCPK: SLTA) Secures Strategic Partner and Additional Funding
Investorideas.com - Soltera Mining Corp. (OTCPK: SLTA) Secures Strategic Partner and Additional Funding
Visit this company: www.solteramining.com
July 1, 2010 – (Investorideas.com mining stocks newswire) www.InvestorIdeas.com and its leading mining investor portals, issue the following commentary on Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7) as prepared by Lisa Springer, CFA.
Lisa Springer, CFAEquity research analyst and financial writer
Soltera Mining Secures Strategic Partner and Additional Funding
A key hurdle for many cash-strapped junior mining companies is securing funding for exploration and production activities. Soltera Mining reported a major accomplishment this month with the announcement of $1.5 million in financing and a new strategic partnership. Soltera is partnering with Italian-owned Goldlake Group, which has agreed to provide $1.5 million in financing over the next 12 months and up to $6 million to support development of alluvial gold production at Soltera's El Torno property in Argentina and complete test work on major gold targets.
The agreement is a win/win scenario for both partners since it enables Soltera to further explore and develop its flagship El Torno gold project and Goldlake to lock in new ethical gold supplies from alluvial production.
Goldlake Group is majority-owned by Gold Holding, the family holding company of Franco Colaiacovo, a founder of Italy's third-largest cement company. Through an operating subsidiary, Goldlake holds gold exploration and exploitation concessions encompassing over 10,500 hectares in the Lepaguare Valley of the central Honduras. Goldlake is a leading producer of ethical gold from alluvial deposits and differs from other mineral companies in its commitment to socially and environmentally responsible mining practices. Goldlake's alluvial gold deposits in the Honduras are worked using a cyanide-free extraction process and a zero waste and water management system. In addition, Goldlake ensures complete control over how its ore is mined and sold through an unbroken supply chain from extraction to the end customer. Its commitment to environmentally-friendly mining has been recognized by upscale jeweler Cartier, who has contracted with Goldlake to be an ethical gold supplier.
The financing will consist of three tranches. The first tranche will be released this month and used to pay the annual lease on the El Torno property and to update regulatory filings. A second tranche will be paid before the end of October and is allocated for test work on the alluvial gold as well as six major gold targets. A third tranche will be paid before June 30, 2011 and fund the completion of these objectives. Goldlake reserves the right to opt out of the three tranches if bulk sampling indicates non-economic gold grades, but this seems unlikely given profitable alluvial gold operations under the previous title holder, who ceased work only because of ill health.
Test work on the alluvial gold deposits will begin in September with bulk samples being sent to international assay labs. The analytical data from this test work will be used to optimize the processing plant design. Assuming favorable test results, gold production could begin before the end of 2010.
Soltera owns the rights to mine gold-bearing surface deposits at the El Torno property, which is located in northern Argentina near the Bolivian border. El Torno was explored by Mexican mining conglomerate Penoles (BMV: PE&OLES) in the late 1990s. Penoles estimated gold resources in just one kilometer of the 14 kilometer gold-quartz vein of at least half a million ounces and potentially exceeding two million ounces based on its drilling samples. There are also smaller veins of dispersed gold near the main system and elluvial deposits embedded in gold bearing bedrock found at relatively shallow depths. Soltera plans to develop the elluvial deposits first since these are easily accessible and relatively inexpensive to process.
Based on Penoles' resource estimates and current $1,200 per ounce gold prices, the value of El Torno gold in one kilometer of the 14 kilometer vein could potentially range from $600 million to well over $2 billion. However, Penoles' estimates are based on a limited number of drilling samples, so actual resources could differ materially from their estimates. Geochemical surveys completed in 2008 indicate the gold vein is mineralized throughout its entire length, suggesting the potential for a mega-deposit of gold at El Torno. Current sampling and testing work being performed by Soltera should help update and refine El Torno resource estimates.
Soltera obtained surface mining rights to El Torno this year and had planned to commence production from alluvial deposits in the spring, but lacked sufficient funding to proceed. The capital infusion by Goldlake enables the start-up of surface mining operations. Soltera plans to use cash flow raised through elluvial gold sales to further explore larger underground and open-pit targets, where the majority of El Torno gold is likely located. Exploration efforts will initially focus on the upper 100 meters of the target areas and commence with geophysical prospecting and drilling.
Readers are advised that the above article is solely for information purposes and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. The views expressed herein are based upon the author's analysis of the issuer's public disclosures, and assumes both their accuracy and completeness. The opinions and statements included herein are based on sources (including the companies discussed and public sources) believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. The author has not independently verified the information contained herein. This information is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. You should review a complete information package on all companies, which should include, but not be limited to, the Company's annual report, quarterly reports, press releases and all regulatory filings. The foregoing discussion contains statements which are based on current expectations, estimates and projections, and differences from such expectations, estimates and projections can be expected.
The author, Lisa Springer, was compensated for writing this article by Soltera Mining and doesn't own shares of any of the companies mentioned in this article.
Lisa Springer, CFABio and disclaimer: http://www.investorideas.com/About/Lisa-Springer-CFA/
About Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7):Soltera Mining Corp. is a unique exploration company in the sense that it is following two distinct lines of action. The first is conventional, with exploration concentrated on two carefully selected gold and base metal projects in Argentina, particularly the large-scale El Torno gold project in Jujuy. The second, less conventional action is to finance immediate small-scale gold production from a specific section of the 14 km gold-quartz vein at El Torno.
Investors can view the full company profile for Soltera Mining Corp. at http://www.investorideas.com/CO/SLTA/
Visit the company website at http://www.solteramining.com/
Request news and stock alerts from Soltera Mining Corp.http://www.investorideas.com/Resources/Newsletter.asp
Soltera - Safe Harbor Statement: Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Information or opinions in this document are presented solely for informative purposes and are not intended nor should be construed as investment advice. We encourage you to carefully review the Company with your investment advisor and verify any information that is important to your investment decision
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Disclaimer: The following company profile release for Soltera Mining is a paid for submission. Our sites do not make recommendations. 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. This site is currently compensated by featured companies, news submissions, company profile submissions and online advertising.Disclaimer/Disclosure: http://www.investorideas.com/About/Disclaimer.asphttp://www.investorideas.com/About/News/Clientspecifics.asp
Contact Soltera Mining Corp.Fabio Montanariinfo@solteramining.com+1 888-768-5552
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Visit this company: www.solteramining.com
July 1, 2010 – (Investorideas.com mining stocks newswire) www.InvestorIdeas.com and its leading mining investor portals, issue the following commentary on Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7) as prepared by Lisa Springer, CFA.
Lisa Springer, CFAEquity research analyst and financial writer
Soltera Mining Secures Strategic Partner and Additional Funding
A key hurdle for many cash-strapped junior mining companies is securing funding for exploration and production activities. Soltera Mining reported a major accomplishment this month with the announcement of $1.5 million in financing and a new strategic partnership. Soltera is partnering with Italian-owned Goldlake Group, which has agreed to provide $1.5 million in financing over the next 12 months and up to $6 million to support development of alluvial gold production at Soltera's El Torno property in Argentina and complete test work on major gold targets.
The agreement is a win/win scenario for both partners since it enables Soltera to further explore and develop its flagship El Torno gold project and Goldlake to lock in new ethical gold supplies from alluvial production.
Goldlake Group is majority-owned by Gold Holding, the family holding company of Franco Colaiacovo, a founder of Italy's third-largest cement company. Through an operating subsidiary, Goldlake holds gold exploration and exploitation concessions encompassing over 10,500 hectares in the Lepaguare Valley of the central Honduras. Goldlake is a leading producer of ethical gold from alluvial deposits and differs from other mineral companies in its commitment to socially and environmentally responsible mining practices. Goldlake's alluvial gold deposits in the Honduras are worked using a cyanide-free extraction process and a zero waste and water management system. In addition, Goldlake ensures complete control over how its ore is mined and sold through an unbroken supply chain from extraction to the end customer. Its commitment to environmentally-friendly mining has been recognized by upscale jeweler Cartier, who has contracted with Goldlake to be an ethical gold supplier.
The financing will consist of three tranches. The first tranche will be released this month and used to pay the annual lease on the El Torno property and to update regulatory filings. A second tranche will be paid before the end of October and is allocated for test work on the alluvial gold as well as six major gold targets. A third tranche will be paid before June 30, 2011 and fund the completion of these objectives. Goldlake reserves the right to opt out of the three tranches if bulk sampling indicates non-economic gold grades, but this seems unlikely given profitable alluvial gold operations under the previous title holder, who ceased work only because of ill health.
Test work on the alluvial gold deposits will begin in September with bulk samples being sent to international assay labs. The analytical data from this test work will be used to optimize the processing plant design. Assuming favorable test results, gold production could begin before the end of 2010.
Soltera owns the rights to mine gold-bearing surface deposits at the El Torno property, which is located in northern Argentina near the Bolivian border. El Torno was explored by Mexican mining conglomerate Penoles (BMV: PE&OLES) in the late 1990s. Penoles estimated gold resources in just one kilometer of the 14 kilometer gold-quartz vein of at least half a million ounces and potentially exceeding two million ounces based on its drilling samples. There are also smaller veins of dispersed gold near the main system and elluvial deposits embedded in gold bearing bedrock found at relatively shallow depths. Soltera plans to develop the elluvial deposits first since these are easily accessible and relatively inexpensive to process.
Based on Penoles' resource estimates and current $1,200 per ounce gold prices, the value of El Torno gold in one kilometer of the 14 kilometer vein could potentially range from $600 million to well over $2 billion. However, Penoles' estimates are based on a limited number of drilling samples, so actual resources could differ materially from their estimates. Geochemical surveys completed in 2008 indicate the gold vein is mineralized throughout its entire length, suggesting the potential for a mega-deposit of gold at El Torno. Current sampling and testing work being performed by Soltera should help update and refine El Torno resource estimates.
Soltera obtained surface mining rights to El Torno this year and had planned to commence production from alluvial deposits in the spring, but lacked sufficient funding to proceed. The capital infusion by Goldlake enables the start-up of surface mining operations. Soltera plans to use cash flow raised through elluvial gold sales to further explore larger underground and open-pit targets, where the majority of El Torno gold is likely located. Exploration efforts will initially focus on the upper 100 meters of the target areas and commence with geophysical prospecting and drilling.
Readers are advised that the above article is solely for information purposes and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. The views expressed herein are based upon the author's analysis of the issuer's public disclosures, and assumes both their accuracy and completeness. The opinions and statements included herein are based on sources (including the companies discussed and public sources) believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. The author has not independently verified the information contained herein. This information is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. You should review a complete information package on all companies, which should include, but not be limited to, the Company's annual report, quarterly reports, press releases and all regulatory filings. The foregoing discussion contains statements which are based on current expectations, estimates and projections, and differences from such expectations, estimates and projections can be expected.
The author, Lisa Springer, was compensated for writing this article by Soltera Mining and doesn't own shares of any of the companies mentioned in this article.
Lisa Springer, CFABio and disclaimer: http://www.investorideas.com/About/Lisa-Springer-CFA/
About Soltera Mining Corp. (OTCPK: SLTA FRANKFURT: SN7):Soltera Mining Corp. is a unique exploration company in the sense that it is following two distinct lines of action. The first is conventional, with exploration concentrated on two carefully selected gold and base metal projects in Argentina, particularly the large-scale El Torno gold project in Jujuy. The second, less conventional action is to finance immediate small-scale gold production from a specific section of the 14 km gold-quartz vein at El Torno.
Investors can view the full company profile for Soltera Mining Corp. at http://www.investorideas.com/CO/SLTA/
Visit the company website at http://www.solteramining.com/
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Soltera - Safe Harbor Statement: Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Information or opinions in this document are presented solely for informative purposes and are not intended nor should be construed as investment advice. We encourage you to carefully review the Company with your investment advisor and verify any information that is important to your investment decision
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Contact Soltera Mining Corp.Fabio Montanariinfo@solteramining.com+1 888-768-5552
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Wednesday, June 30, 2010
Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) AMENDS TERMS FOR DOS NACIONES OPTION
Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) AMENDS TERMS FOR DOS NACIONES OPTION
Visit this company: www.yaleresources.com
June 30, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that it has agreed to amend its Option Agreement for the Dos Naciones property with partner Del Toro Silver Corp.
Based on the amended terms Del Toro has agreed to issue Yale 150,000 shares in addition to the 200,000 shares as required on or before the first anniversary date of July 7th, 2010 (with all shares subject to the applicable hold periods required by Securities Regulators). Pursuant to the terms of the amended option agreement, Del Toro is required to accrue the $150,000 of expenditures required in the first year of the deal into the second year and therefore has agreed to fund a minimum of $400,000 of expenditures prior to the second anniversary - July 7th, 2011.
Year three obligations of $400,000 of expenditures, the issuance of 250,000 shares on or before July 7th, 2011 and a further 350,000 shares on or before July 7th, 2012 will not change. If Del Toro completes these obligations they will have earned an additional 30% interest to hold an 80% undivided interest in the Dos Naciones property.
The Company has been notified by Del Toro that they intend to continue their work program at Dos Naciones in July. This work is planned to include detailed mapping, trenching and sampling at both the Mina Josefina silver-lead zone and the La Española skarn zone with the goal to delineate drill targets. In addition to planning the upcoming work program, the Company is investigating the opportunity of purchasing detailed exploration data, including drill holes and geophysics from the previous owner of Dos Naciones, Industrias Peñoles.
The Dos Naciones Property:
The 2,391 hectare (23.91 square km) Dos Naciones property is located approximately 160 km northeast of Hermosillo in the heart of Sonora’s porphyry district. Dos Naciones was staked by Yale as the property has the potential for a porphyry-style target. This is evidenced by multiple skarn bodies and silver/lead vein systems occurring in association with a regional magnetic anomaly that measures 2 km in diameter and is coincident with a poorly exposed intrusive body.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at 604-678-2531.
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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact:
Yale ResourcesCary Martin, 604-678-2531 ext. 223.
Visit the YLL showcase profile at Investorideas.com Request News and Info on YLL Disclosure, Disclaimer/ YLL is a paid advertising client on Investorideas.com and our mining portals.
Visit this company: www.yaleresources.com
June 30, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that it has agreed to amend its Option Agreement for the Dos Naciones property with partner Del Toro Silver Corp.
Based on the amended terms Del Toro has agreed to issue Yale 150,000 shares in addition to the 200,000 shares as required on or before the first anniversary date of July 7th, 2010 (with all shares subject to the applicable hold periods required by Securities Regulators). Pursuant to the terms of the amended option agreement, Del Toro is required to accrue the $150,000 of expenditures required in the first year of the deal into the second year and therefore has agreed to fund a minimum of $400,000 of expenditures prior to the second anniversary - July 7th, 2011.
Year three obligations of $400,000 of expenditures, the issuance of 250,000 shares on or before July 7th, 2011 and a further 350,000 shares on or before July 7th, 2012 will not change. If Del Toro completes these obligations they will have earned an additional 30% interest to hold an 80% undivided interest in the Dos Naciones property.
The Company has been notified by Del Toro that they intend to continue their work program at Dos Naciones in July. This work is planned to include detailed mapping, trenching and sampling at both the Mina Josefina silver-lead zone and the La Española skarn zone with the goal to delineate drill targets. In addition to planning the upcoming work program, the Company is investigating the opportunity of purchasing detailed exploration data, including drill holes and geophysics from the previous owner of Dos Naciones, Industrias Peñoles.
The Dos Naciones Property:
The 2,391 hectare (23.91 square km) Dos Naciones property is located approximately 160 km northeast of Hermosillo in the heart of Sonora’s porphyry district. Dos Naciones was staked by Yale as the property has the potential for a porphyry-style target. This is evidenced by multiple skarn bodies and silver/lead vein systems occurring in association with a regional magnetic anomaly that measures 2 km in diameter and is coincident with a poorly exposed intrusive body.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at 604-678-2531.
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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact:
Yale ResourcesCary Martin, 604-678-2531 ext. 223.
Visit the YLL showcase profile at Investorideas.com Request News and Info on YLL Disclosure, Disclaimer/ YLL is a paid advertising client on Investorideas.com and our mining portals.
Investorideas.com - Mining Stocks; Tombstone Exploration's (OTCBB:TMBXF) Hi-Tech GeoPhysical Program Has Commenced
Investorideas.com - Mining Stocks; Tombstone Exploration's (OTCBB:TMBXF) Hi-Tech GeoPhysical Program Has Commenced
Visit this company: www.tombstonemining.com
PHOENIX, Ariz. - June 30, 2010 (Investorideas.com Mining Stocks Newswire) - Tombstone Exploration Corporation (OTCBB:TMBXF) announced today that the Company has contracted Geotech Ltd. of Ontario, Canada to fly an airborne Z-Axis Tipper Electromagnetic (ZTEM) on its Tombstone, Arizona property. ZTEM was selected for its ability to achieve unparalleled resolution and depth of investigation. The system is well suited to imaging buried porphyry deposits and is capable of gathering data over 6,000 feet (2 kilometers) below ground surface. Geotech arrived at the Tombstone property on Monday, June 28, 2010.
The airborne ZTEM survey will be over 200 line miles and will cover most of the Tombstone district. The data will be interpreted to provide targets for a giant, high-grade porphyry copper - gold deposit that can be mined by open pit or block caving mining methods. Tombstone is situated 25 miles north of the historic Bisbee porphyry copper mine. There are numerous exploration programs ongoing in the region for porphyry copper deposits.
The project is situated 150 miles southeast of the Resolution deposit, which is currently being explored by Rio Tinto, and is reported to contain an Inferred Resource of 1.34 billion tonnes containing 1.51% copper and 0.04% molybdenum. The Tombstone project has two major intrusions (granodiorite and porphyry) underlain by sediments that could host a Resolution style deposit.
Alan Brown, CEO of Tombstone, commented, "The ZTEM is the most advanced technology available for discovering ore bodies at depth. To understand this technology further, please view www.geotech.ca. This technology is used by many of the major mining companies in their exploration programs."
Geotech Ltd. provides full service contract airborne geophysical surveys, data processing and data interpretation. At the present time, Geotech Ltd. offers VTEM (helicopter-borne time-domain electromagnetic), ZTEM and AirMt (measure natural alternating magnetic fields in the audio-frequency range), magnetic, magnetic gradient and gamma-ray spectrometer surveys. Geotech Ltd. operates nine VTEM systems in North America and world-wide, a total of 30. Their clients are mainly from the mineral and petroleum exploration industries. The proprietary, large dipole moment VTEM system, in the six years since its first commercial survey, has become the airborne system of choice by the exploration community. A number of exploration successes have been attributed to VTEM surveys by the exploration companies.
Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. Tombstone Exploration Corporation has the mineral rights to approximately 14,000 acres of historical mining land in the areas around Tombstone, Arizona and is the largest landholder in the Tombstone Mining District.
For more information on Tombstone Exploration Corporation, please visit www.tombstonemining.com
FORWARD-LOOKING STATEMENTS
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Tombstone Exploration Corporation's ability to obtain additional financing. Tombstone Exploration Corporation undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Tombstone Exploration Corporation's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Tombstone Exploration Corporation's success are more fully disclosed in Tombstone Exploration Corporation most recent public filings with the U.S. Securities and Exchange Commission.
Contact:
Tombstone Exploration CorporationAlan M. BrownPresident480-305-4507
Investor Relations:The Eversull Group, Inc.Jack Eversull972-571-1624
Visit the TMBXF showcase profile at Investorideas.com Request News and Info on TMBXF Disclosure, Disclaimer/ TMBXF is a paid advertising client on Investorideas.com and our mining portals.
More Info:
The 3 Best Gold Picks for 2010
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
Visit this company: www.tombstonemining.com
PHOENIX, Ariz. - June 30, 2010 (Investorideas.com Mining Stocks Newswire) - Tombstone Exploration Corporation (OTCBB:TMBXF) announced today that the Company has contracted Geotech Ltd. of Ontario, Canada to fly an airborne Z-Axis Tipper Electromagnetic (ZTEM) on its Tombstone, Arizona property. ZTEM was selected for its ability to achieve unparalleled resolution and depth of investigation. The system is well suited to imaging buried porphyry deposits and is capable of gathering data over 6,000 feet (2 kilometers) below ground surface. Geotech arrived at the Tombstone property on Monday, June 28, 2010.
The airborne ZTEM survey will be over 200 line miles and will cover most of the Tombstone district. The data will be interpreted to provide targets for a giant, high-grade porphyry copper - gold deposit that can be mined by open pit or block caving mining methods. Tombstone is situated 25 miles north of the historic Bisbee porphyry copper mine. There are numerous exploration programs ongoing in the region for porphyry copper deposits.
The project is situated 150 miles southeast of the Resolution deposit, which is currently being explored by Rio Tinto, and is reported to contain an Inferred Resource of 1.34 billion tonnes containing 1.51% copper and 0.04% molybdenum. The Tombstone project has two major intrusions (granodiorite and porphyry) underlain by sediments that could host a Resolution style deposit.
Alan Brown, CEO of Tombstone, commented, "The ZTEM is the most advanced technology available for discovering ore bodies at depth. To understand this technology further, please view www.geotech.ca. This technology is used by many of the major mining companies in their exploration programs."
Geotech Ltd. provides full service contract airborne geophysical surveys, data processing and data interpretation. At the present time, Geotech Ltd. offers VTEM (helicopter-borne time-domain electromagnetic), ZTEM and AirMt (measure natural alternating magnetic fields in the audio-frequency range), magnetic, magnetic gradient and gamma-ray spectrometer surveys. Geotech Ltd. operates nine VTEM systems in North America and world-wide, a total of 30. Their clients are mainly from the mineral and petroleum exploration industries. The proprietary, large dipole moment VTEM system, in the six years since its first commercial survey, has become the airborne system of choice by the exploration community. A number of exploration successes have been attributed to VTEM surveys by the exploration companies.
Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. Tombstone Exploration Corporation has the mineral rights to approximately 14,000 acres of historical mining land in the areas around Tombstone, Arizona and is the largest landholder in the Tombstone Mining District.
For more information on Tombstone Exploration Corporation, please visit www.tombstonemining.com
FORWARD-LOOKING STATEMENTS
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Tombstone Exploration Corporation's ability to obtain additional financing. Tombstone Exploration Corporation undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Tombstone Exploration Corporation's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Tombstone Exploration Corporation's success are more fully disclosed in Tombstone Exploration Corporation most recent public filings with the U.S. Securities and Exchange Commission.
Contact:
Tombstone Exploration CorporationAlan M. BrownPresident480-305-4507
Investor Relations:The Eversull Group, Inc.Jack Eversull972-571-1624
Visit the TMBXF showcase profile at Investorideas.com Request News and Info on TMBXF Disclosure, Disclaimer/ TMBXF is a paid advertising client on Investorideas.com and our mining portals.
More Info:
The 3 Best Gold Picks for 2010
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
Investorideas.com - Mining Stocks; Rodinia Minerals Inc. (TSX-V: RM) (OTCQX: RDNAF) to Commence Trading as Rodinia Lithium Inc. and Announces Mobilization of Drill to Diablillos
Investorideas.com - Mining Stocks; Rodinia Minerals Inc. (TSX-V: RM) (OTCQX: RDNAF) to Commence Trading as Rodinia Lithium Inc. and Announces Mobilization of Drill to Diablillos
Visit this company: www.rodiniaminerals.com
TORONTO, ONTARIO - June 29, 2010 (Investorideas.com Mining stocks Newswire) - Rodinia Minerals Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM; OTCQX:RDNAF), is pleased to report that as of market open tomorrow, Wednesday, June 30, 2010, the Company's shares will commence trading on the TSX Venture Exchange under its new name, "Rodinia Lithium Inc." The Company previously received shareholder approval for the name change at its Annual General Meeting held on June 10, 2010. The Company's ticker symbols remain unchanged as "RM" on the TSX Venture and "RDNAF" on the OTCQX.
In addition, the Company is pleased to report the mobilization of a reverse circulation ("RC") drill rig to its Salar de Diablillos ("Diablillos" or the "Salar") property. The RC drill and other equipment are setting up on site and drilling is expected to commence this week. All applicable environmental permits and access agreements with surface land holders are in place. Rodinia has established a field camp on the Salar to service the program and ensure efficient work and timely results. Raymond P. Spanjers, MSc. (Geology), Rodinia's Manager of Exploration, and two local geologists who will oversee the drilling program, are on site.
As outlined in the Company's Press Release of June 17, 2010, the drill program will explore across the entire salar with up to 32 drill holes. The Company is finalizing its initial drill targets based on a prioritization of data received from its previous auger drill exploration program and gravity survey results from Quantec Geoscience Argentina S.A., a subsidiary of Quantec Geoscience Ltd. of Toronto, Canada. Rodinia anticipates drilling under this program to occur to depths between 50 and 250 metres. The Company anticipates that results from this drill program will assist to establish a National Instrument 43-101 compliant resource estimate for the Diablillos property.
William Randall, President and CEO, remarked, "The mobilization and startup of our first RC drill program at Diablillos marks a key milestone for the Company and we are excited to get the drill turning. We have developed an extensive program based on a systematic analysis of the data received from gravity surveys and our recently completed auger drill exploration holes. We have prioritized targets for drilling and are prepared to commence the program."
All exploration and drilling initiatives undertaken by Rodinia are supervised by William Randall, MSc. (Geology), the President and CEO of Rodinia. Mr. Randall is a qualified person, as defined by National Instrument 43-101, and he has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 300 milliltres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, CO (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Minerals Inc.:
Rodinia Minerals Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Diablillos project in Salta, Argentina.
Please visit the Company's web site at www.rodiniaminerals.com or write us at info@rodiniaminerals.com. Follow us on Twitter: http://twitter.com/RodiniaLithium.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Company's projects; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE 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.
Contacts
Aaron WolfeRodinia Minerals Inc.Vice President, Corporate Development+1 (416) 309-2696www.rodiniaminerals.com
Visit the RM showcase profile at Investorideas.com Request News and Info on RM Disclosure, Disclaimer/ RM is a paid advertising client on Investorideas.com and our mining portals.
The 3 Best Gold Picks for 2010
Visit this company: www.rodiniaminerals.com
TORONTO, ONTARIO - June 29, 2010 (Investorideas.com Mining stocks Newswire) - Rodinia Minerals Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM; OTCQX:RDNAF), is pleased to report that as of market open tomorrow, Wednesday, June 30, 2010, the Company's shares will commence trading on the TSX Venture Exchange under its new name, "Rodinia Lithium Inc." The Company previously received shareholder approval for the name change at its Annual General Meeting held on June 10, 2010. The Company's ticker symbols remain unchanged as "RM" on the TSX Venture and "RDNAF" on the OTCQX.
In addition, the Company is pleased to report the mobilization of a reverse circulation ("RC") drill rig to its Salar de Diablillos ("Diablillos" or the "Salar") property. The RC drill and other equipment are setting up on site and drilling is expected to commence this week. All applicable environmental permits and access agreements with surface land holders are in place. Rodinia has established a field camp on the Salar to service the program and ensure efficient work and timely results. Raymond P. Spanjers, MSc. (Geology), Rodinia's Manager of Exploration, and two local geologists who will oversee the drilling program, are on site.
As outlined in the Company's Press Release of June 17, 2010, the drill program will explore across the entire salar with up to 32 drill holes. The Company is finalizing its initial drill targets based on a prioritization of data received from its previous auger drill exploration program and gravity survey results from Quantec Geoscience Argentina S.A., a subsidiary of Quantec Geoscience Ltd. of Toronto, Canada. Rodinia anticipates drilling under this program to occur to depths between 50 and 250 metres. The Company anticipates that results from this drill program will assist to establish a National Instrument 43-101 compliant resource estimate for the Diablillos property.
William Randall, President and CEO, remarked, "The mobilization and startup of our first RC drill program at Diablillos marks a key milestone for the Company and we are excited to get the drill turning. We have developed an extensive program based on a systematic analysis of the data received from gravity surveys and our recently completed auger drill exploration holes. We have prioritized targets for drilling and are prepared to commence the program."
All exploration and drilling initiatives undertaken by Rodinia are supervised by William Randall, MSc. (Geology), the President and CEO of Rodinia. Mr. Randall is a qualified person, as defined by National Instrument 43-101, and he has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 300 milliltres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, CO (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Minerals Inc.:
Rodinia Minerals Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Diablillos project in Salta, Argentina.
Please visit the Company's web site at www.rodiniaminerals.com or write us at info@rodiniaminerals.com. Follow us on Twitter: http://twitter.com/RodiniaLithium.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Company's projects; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE 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.
Contacts
Aaron WolfeRodinia Minerals Inc.Vice President, Corporate Development+1 (416) 309-2696www.rodiniaminerals.com
Visit the RM showcase profile at Investorideas.com Request News and Info on RM Disclosure, Disclaimer/ RM is a paid advertising client on Investorideas.com and our mining portals.
The 3 Best Gold Picks for 2010
Tuesday, June 29, 2010
Investorideas.com - The Time Is Nigh For AMI In West Africa
Investorideas.com - The Time Is Nigh For AMI (TSX.V: AMU) In West Africa
Visit this company: www.amiresources.com
By James West and Claire O'ConnorMidasletter.com
June 29, 2010
(Investorideas.com Mining Stocks Newswire) In West Africa, nestled amongst Anglogold Ashanti (NYSE:AU), Newmont Mining (NYSE:NEM) and Goldfields (NYSE:GFI), lies BC based junior AMI Resources (TSX.V: AMU). With animpressive land package in mining friendly Ghana and on-going drill results released from land adjacent to gold-producing Semafo (TSX:SMF) in Niger, AMI is inching closer to being a possibletake over target.
The 3 Best Gold Picks for 2010
Regarding ounces, the company has already proven up 327,000 ounces of gold in Ghana and 130,000 ounces in Niger. In January of this year AMI entered into an option agreement withNewmont Mining under which Newmont has the right to earn an initial 51% interest in the 126 sq km Anuoro License by spending US$2 million in work expenditures and property payments duringthe first 3 year period.
The Anuoro License brings with it another 100,000 ounces of gold not yet included in the National Instrument 43-101 report, propelling AMI's ounce count to an impressive half a million.
The Sirba Story
Although more established in Ghana, having spent 13 golden years exploring there, it's AMI's Sirba Gold Projects in Niger that are garnishing all the attention at the moment.
In September 2009, AMI entered into an option agreement with Golden Star Resources Ltd. (TSX:GSC) whereby AMI has the right to earn a 51% interest in Golden Star's Sirba properties byspending US$1,500,000 over a three year period, with a minimum US$250,000 to be spent inyear one. After the initial earn-in, both parties will enter into a Joint Venture agreement.
The Niger properties include the 550 km2 Deba and the 372 km2 Tailkam licenses, both of which border Semafo's Samira Hill mine to the northeast and southwest. The Samira Hill mine consists of several satellite deposits and has been in operation since 2004, with remaining reserves of631,000 ounces and a 1,293,000 ounce measured/indicated resource.
Several gold anomalies on both the Deba and Tialkam properties have been identified duringprevious exploration programs; Barrick Gold Corporation (TSX, NYSE: ABX) conducted a drillingprogram in 1998 and 1999, which was followed up by St-Jude Resources in 2004 and 2005. Golden Star Resources conducted the most recent exploration program in2007 and 2008.
Results
AMI began drilling on the properties in February 2010 and has struck gold on all the targetedzones. According to a press release issued on May 4th, the most recent results from the company's 25 hole initial drill program are as follows:
"On the Tialkam License, eight reverse circulation holes totalling 808m were drilled at theCongo Toure and Tialkam South prospects. The holes drilled at Congo Toure confirm thepresence of gold mineralization in volcanic rocks associated to the gabbroic complex.
The drill holes at Tialkam South, with intersections of 24m at 3.08 grams per tonne, haveconfirmed the mineralization from the historic drill holes, while the intersection of 8m at 1.08 grams per tonne in TSR004 has extended its continuity over 300m to the north east. Two fence lines of RC holes are proposed to confirm the extension along this trend. On the Deba License, seventeen RC holes totalling 1,375m were drilled at Deba Village, Kokoloukou and Sefa Nangue, three of the known prospects on this license. The mainobjective of this program was to confirm and extend the gold mineralization identified inhistoric drill holes.
In the Deba village prospect, soil geochemistry has identified clusters of gold anomalies within an area of approximately 2km in diameter where trenching and drilling encounteredgold mineralization.
At Sefa Nangue the RC drilling encountered several narrow gold intersections, someranging from 10m to 18m. The core drilling in the mid nineties by JapanIntergovernmental Agency (JICA) also intersected a multitude of quart veins oriented EW. JICA reported an NI43-101 non-compliant resource of 2.4 m tons grading 2.06 gramsper tonne gold (137,000 ounces) from 5,126m of core drilling."
AMI Happy And Hopeful
"Our first drill program has returned excellent results and with such a large land packagesurrounding Semafo's Mine we look forward to expanding the gold resources in this area," comments Dustin Elford, AMI President and Director "We've confirmed there are so far 8 targetzones on Deba and another 4 target zones on the Tialkam concession so we have lots ofpotential to find several satellite depsoits on these licenses."
The weather in Niger has been wet, and blessed as that is for the dry soil of Africa, it means nomore drilling for AMI for until after the rainy season. The company is obliged to put drilling on hold there, but work continues at Sirba.
"It's the rainy season in Niger right now and there aren't a lot of bridges to cross the river, so drill rig access is impossible." Elford explains, "But we're still working at Sirba. We've been doing some trenching, some pitting and some drill pad preparation. We expect to beback with the drill program in late August, early September."
Back to Ghana
Meanwhile in Ghana, AMI expects Newmont to commence drilling on the Anuoro license by the3rd quarter of this year. The Anuoro Concession is part of the North Ashanti Gold Project in south-central Ghana and covers approximately 15 km of strike on the highly gold prolific Ashanti trend. With a current National Instrument 43-101-compliant near surface resource of over 327,000 ounces and several additional identified gold zones the North Ashanti Gold Project has the potential for a multi-million ounce gold deposit
Strategically situated on the prolific Ashanti Trend, the project is surrounded by three gold mines: the Konongo Mine adjoins its northern border, the Anglo Gold Ashanti, ± 40 million ounce ObuasiMine is located approximately 50 km to the southwest and Newmont's Akyem deposit (± 8 millionoz ), permitted for 500,000 ounces per year of production, is just 25 km to the southeast.
With Newmont obliged to spend a minimum of US$550,000 in work expenditure and propertypayments in the first year of the Anuoro License agreement, AMI's expectations of drilling before year end are well founded.
Exploring in Africa
When MidasLetter.com asked Elford how exploration in Africa was going for them, the answerwas unequivocally positive.
"Well Ghana is actually pretty stable. A lot of the major companies are there – Newmont, Goldfields, Golden Star, Redback (TSX:RBI) ... There are a lot of mid-tier companiesalready operating mines in Ghana. Niger is new to the gold industry because there's only one producing gold mine in Niger and that's Semafo's Samira Hill. That's been in production since 2004 and Semafoe has just announced that they're going to spend another 19 million dollars in upgrading the mill and on equipment etc… So it looks pretty favourable for AMI, considering we control all the ground on the gold mineralized trend onboth sides of Semafo's mine."
Essentially, regarding Semafo, what this means for AMI is if they find an economic ore body, theycan either make a deal with Semafo to mill the ore or they could simply be bought out by Semafo. Semafo has just raised US$100 million and rumor has it that they have US$50 million solely fornew acquisitions. The way AMI sees it, should Semafo Samira Hill mine run out of ore, AMI is thenext stop on the property train.
The Time Is Nigh for AMI
With a share price ranging from CA$0.08 to CA$0.12, AMI regard themselves as highlyundervalued, and considering the ounces already proven up, the ratio of funds raised to ouncesfound and the company's large land position amoungst the producers, they could be right. If youwant in on AMI, now may be the time to investigate their potential.
Follow the company's progress at www.amiresources.com
DISCLOSURE: A fee has been paid for the production and distribution of this article and as suchshould be viewed in the context of advertising.
Visit the AMU showcase profile at Investorideas.com Request News and Info on AMU Disclosure, Disclaimer/ AMU is a paid advertising client on Investorideas.com and our mining portals.
Visit this company: www.amiresources.com
By James West and Claire O'ConnorMidasletter.com
June 29, 2010
(Investorideas.com Mining Stocks Newswire) In West Africa, nestled amongst Anglogold Ashanti (NYSE:AU), Newmont Mining (NYSE:NEM) and Goldfields (NYSE:GFI), lies BC based junior AMI Resources (TSX.V: AMU). With animpressive land package in mining friendly Ghana and on-going drill results released from land adjacent to gold-producing Semafo (TSX:SMF) in Niger, AMI is inching closer to being a possibletake over target.
The 3 Best Gold Picks for 2010
Regarding ounces, the company has already proven up 327,000 ounces of gold in Ghana and 130,000 ounces in Niger. In January of this year AMI entered into an option agreement withNewmont Mining under which Newmont has the right to earn an initial 51% interest in the 126 sq km Anuoro License by spending US$2 million in work expenditures and property payments duringthe first 3 year period.
The Anuoro License brings with it another 100,000 ounces of gold not yet included in the National Instrument 43-101 report, propelling AMI's ounce count to an impressive half a million.
The Sirba Story
Although more established in Ghana, having spent 13 golden years exploring there, it's AMI's Sirba Gold Projects in Niger that are garnishing all the attention at the moment.
In September 2009, AMI entered into an option agreement with Golden Star Resources Ltd. (TSX:GSC) whereby AMI has the right to earn a 51% interest in Golden Star's Sirba properties byspending US$1,500,000 over a three year period, with a minimum US$250,000 to be spent inyear one. After the initial earn-in, both parties will enter into a Joint Venture agreement.
The Niger properties include the 550 km2 Deba and the 372 km2 Tailkam licenses, both of which border Semafo's Samira Hill mine to the northeast and southwest. The Samira Hill mine consists of several satellite deposits and has been in operation since 2004, with remaining reserves of631,000 ounces and a 1,293,000 ounce measured/indicated resource.
Several gold anomalies on both the Deba and Tialkam properties have been identified duringprevious exploration programs; Barrick Gold Corporation (TSX, NYSE: ABX) conducted a drillingprogram in 1998 and 1999, which was followed up by St-Jude Resources in 2004 and 2005. Golden Star Resources conducted the most recent exploration program in2007 and 2008.
Results
AMI began drilling on the properties in February 2010 and has struck gold on all the targetedzones. According to a press release issued on May 4th, the most recent results from the company's 25 hole initial drill program are as follows:
"On the Tialkam License, eight reverse circulation holes totalling 808m were drilled at theCongo Toure and Tialkam South prospects. The holes drilled at Congo Toure confirm thepresence of gold mineralization in volcanic rocks associated to the gabbroic complex.
The drill holes at Tialkam South, with intersections of 24m at 3.08 grams per tonne, haveconfirmed the mineralization from the historic drill holes, while the intersection of 8m at 1.08 grams per tonne in TSR004 has extended its continuity over 300m to the north east. Two fence lines of RC holes are proposed to confirm the extension along this trend. On the Deba License, seventeen RC holes totalling 1,375m were drilled at Deba Village, Kokoloukou and Sefa Nangue, three of the known prospects on this license. The mainobjective of this program was to confirm and extend the gold mineralization identified inhistoric drill holes.
In the Deba village prospect, soil geochemistry has identified clusters of gold anomalies within an area of approximately 2km in diameter where trenching and drilling encounteredgold mineralization.
At Sefa Nangue the RC drilling encountered several narrow gold intersections, someranging from 10m to 18m. The core drilling in the mid nineties by JapanIntergovernmental Agency (JICA) also intersected a multitude of quart veins oriented EW. JICA reported an NI43-101 non-compliant resource of 2.4 m tons grading 2.06 gramsper tonne gold (137,000 ounces) from 5,126m of core drilling."
AMI Happy And Hopeful
"Our first drill program has returned excellent results and with such a large land packagesurrounding Semafo's Mine we look forward to expanding the gold resources in this area," comments Dustin Elford, AMI President and Director "We've confirmed there are so far 8 targetzones on Deba and another 4 target zones on the Tialkam concession so we have lots ofpotential to find several satellite depsoits on these licenses."
The weather in Niger has been wet, and blessed as that is for the dry soil of Africa, it means nomore drilling for AMI for until after the rainy season. The company is obliged to put drilling on hold there, but work continues at Sirba.
"It's the rainy season in Niger right now and there aren't a lot of bridges to cross the river, so drill rig access is impossible." Elford explains, "But we're still working at Sirba. We've been doing some trenching, some pitting and some drill pad preparation. We expect to beback with the drill program in late August, early September."
Back to Ghana
Meanwhile in Ghana, AMI expects Newmont to commence drilling on the Anuoro license by the3rd quarter of this year. The Anuoro Concession is part of the North Ashanti Gold Project in south-central Ghana and covers approximately 15 km of strike on the highly gold prolific Ashanti trend. With a current National Instrument 43-101-compliant near surface resource of over 327,000 ounces and several additional identified gold zones the North Ashanti Gold Project has the potential for a multi-million ounce gold deposit
Strategically situated on the prolific Ashanti Trend, the project is surrounded by three gold mines: the Konongo Mine adjoins its northern border, the Anglo Gold Ashanti, ± 40 million ounce ObuasiMine is located approximately 50 km to the southwest and Newmont's Akyem deposit (± 8 millionoz ), permitted for 500,000 ounces per year of production, is just 25 km to the southeast.
With Newmont obliged to spend a minimum of US$550,000 in work expenditure and propertypayments in the first year of the Anuoro License agreement, AMI's expectations of drilling before year end are well founded.
Exploring in Africa
When MidasLetter.com asked Elford how exploration in Africa was going for them, the answerwas unequivocally positive.
"Well Ghana is actually pretty stable. A lot of the major companies are there – Newmont, Goldfields, Golden Star, Redback (TSX:RBI) ... There are a lot of mid-tier companiesalready operating mines in Ghana. Niger is new to the gold industry because there's only one producing gold mine in Niger and that's Semafo's Samira Hill. That's been in production since 2004 and Semafoe has just announced that they're going to spend another 19 million dollars in upgrading the mill and on equipment etc… So it looks pretty favourable for AMI, considering we control all the ground on the gold mineralized trend onboth sides of Semafo's mine."
Essentially, regarding Semafo, what this means for AMI is if they find an economic ore body, theycan either make a deal with Semafo to mill the ore or they could simply be bought out by Semafo. Semafo has just raised US$100 million and rumor has it that they have US$50 million solely fornew acquisitions. The way AMI sees it, should Semafo Samira Hill mine run out of ore, AMI is thenext stop on the property train.
The Time Is Nigh for AMI
With a share price ranging from CA$0.08 to CA$0.12, AMI regard themselves as highlyundervalued, and considering the ounces already proven up, the ratio of funds raised to ouncesfound and the company's large land position amoungst the producers, they could be right. If youwant in on AMI, now may be the time to investigate their potential.
Follow the company's progress at www.amiresources.com
DISCLOSURE: A fee has been paid for the production and distribution of this article and as suchshould be viewed in the context of advertising.
Visit the AMU showcase profile at Investorideas.com Request News and Info on AMU Disclosure, Disclaimer/ AMU is a paid advertising client on Investorideas.com and our mining portals.
Monday, June 28, 2010
Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) SAMPLES 2.70 g/t AU AND 529.8 g/t AG OVER 2.10m – IDENTIFIES ANOTHER NEW ZONE AT OROFINO
Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) SAMPLES 2.70 g/t AU AND 529.8 g/t AG OVER 2.10m – IDENTIFIES ANOTHER NEW ZONE AT OROFINO
Visit this company: www.yaleresources.com
June 28, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that ongoing fieldwork at the wholly owned Orofino Project has identified another new mineralized target. This new target is located in the southern portion of a 4.5 by 2.5 kilometre coincident silica and iron-oxide ASTER anomaly located in the approximate centre of the 83 square kilometre project. San Francisco is now the eleventh known mineralized target within the Orofino Project. The highlight sample was 2.1 metres with a weighted average of 2.70 g/t gold and 529.8 g/t silver.
The San Francisco target is on trend with the Quelitoso target, located approximately 1.3 km away, as well as the Santiago Target located an additional 1.5 km away. This now creates a mineralized trend that measures as least 3 kilometres in length.
The San Francisco target is made up of a 30 to 40 metre wide zone of strong oxidation centred on a 5 to 6 metre wide core area of strong silicification and veining. It has been traced in the field for 300 metres along strike and remains open in both directions.
Of note at San Francisco is the absolute lack of any signs of previous sampling, which indicates to Yale management that there is potential to encounter additional workings and/or targets in this portion of the property as it appears to not have been explored by previous companies.
Multiple historic workings exist along this 300 metre portion of the San Francisco target. To date, reconnaissance-style sampling has only been done within these workings. Sampling from this initial reconnaissance sampling returned the following results:
The location of the San Francisco, Quelitoso and Santiago targets appears to be controlled by cross-cutting northwest trending structures. As there are multiple other northwest trending structures, there is very good potential for the identification of additional targets along this greater than 3 km long east-northeast mineralized trend.
Additional potential targets:
The reconnaissance program also identified several additional veins and small workings within the 4.5 by 2.5 kilometre coincident silica and iron-oxide ASTER anomaly. Local anomalous samples will be followed up during the next phase of fieldwork on the property.
The Orofino Project:
The San Francisco Zone is the eleventh known mineralized target within the Orofino Project. The property contains six historic open-pit workings. Although production records are not available, the vendor of the property had small-scale production during the mid-1990s, which produced approximately 60,000 tonnes of ore grading approximately 2 to 4 grams per tonne gold. The Orofino Project is located approximately 135 km southeast of Hermosillo, Sonora State and is approximately 83 square kilometres in size.
Highlights from previous work within the concessions are (see news release dated October 6, November 6, and December 1, 2009):
3.19 g/t gold and 83.2 g/t silver over 30.0 metres from within the La Perla pit;
1.88 g/t gold and 56.8 g/t silver over 10.67 metres from drill hole north of La Perla pit;
3.97 g/t gold over 9.14 metres from drill hole at the El Orofino target
2.27 g/t gold and 13.7 g/t silver over 15.24 metres from drill hole at the El Gato target;
2.53 g/t gold and 29.6 g/t silver over 4.4 metres from excavation at La Perlita West; and
7.79 g/t gold and 173.0 g/t silver over 2.4 metres from excavation at La Perlita North
Ongoing work at Orofino will be aimed at defining drill targets.
Stock Options:
The Company has issued Cary Martin, Manager – Investor Relations 200,000 stock options at $0.10 and will be exercisable until June 20, 2013.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
Ian Foreman, P.Geo, is the Qualified Person, according to National Instrument 43-101, for the Orofino Project and is responsible for the technical data mentioned in this news release.
All of the samples mentioned in this release were prepared and analyzed by Inspectorate at their labs in Hermosillo and Vancouver and generally consisted of 2-4 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver and base metals were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver, 1% copper, 1% lead and/or 1% zinc (over limit) were re-analyzed using Inspectorate’s ‘ore grade’ detection limits.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at 604-678-2531.
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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Visit the YLL showcase profile at Investorideas.com Request News and Info on YLL Disclosure, Disclaimer/ YLL is a paid advertising client on Investorideas.com and our mining portals.
The 3 Best Gold Picks for 2010
Visit this company: www.yaleresources.com
June 28, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that ongoing fieldwork at the wholly owned Orofino Project has identified another new mineralized target. This new target is located in the southern portion of a 4.5 by 2.5 kilometre coincident silica and iron-oxide ASTER anomaly located in the approximate centre of the 83 square kilometre project. San Francisco is now the eleventh known mineralized target within the Orofino Project. The highlight sample was 2.1 metres with a weighted average of 2.70 g/t gold and 529.8 g/t silver.
The San Francisco target is on trend with the Quelitoso target, located approximately 1.3 km away, as well as the Santiago Target located an additional 1.5 km away. This now creates a mineralized trend that measures as least 3 kilometres in length.
The San Francisco target is made up of a 30 to 40 metre wide zone of strong oxidation centred on a 5 to 6 metre wide core area of strong silicification and veining. It has been traced in the field for 300 metres along strike and remains open in both directions.
Of note at San Francisco is the absolute lack of any signs of previous sampling, which indicates to Yale management that there is potential to encounter additional workings and/or targets in this portion of the property as it appears to not have been explored by previous companies.
Multiple historic workings exist along this 300 metre portion of the San Francisco target. To date, reconnaissance-style sampling has only been done within these workings. Sampling from this initial reconnaissance sampling returned the following results:
The location of the San Francisco, Quelitoso and Santiago targets appears to be controlled by cross-cutting northwest trending structures. As there are multiple other northwest trending structures, there is very good potential for the identification of additional targets along this greater than 3 km long east-northeast mineralized trend.
Additional potential targets:
The reconnaissance program also identified several additional veins and small workings within the 4.5 by 2.5 kilometre coincident silica and iron-oxide ASTER anomaly. Local anomalous samples will be followed up during the next phase of fieldwork on the property.
The Orofino Project:
The San Francisco Zone is the eleventh known mineralized target within the Orofino Project. The property contains six historic open-pit workings. Although production records are not available, the vendor of the property had small-scale production during the mid-1990s, which produced approximately 60,000 tonnes of ore grading approximately 2 to 4 grams per tonne gold. The Orofino Project is located approximately 135 km southeast of Hermosillo, Sonora State and is approximately 83 square kilometres in size.
Highlights from previous work within the concessions are (see news release dated October 6, November 6, and December 1, 2009):
3.19 g/t gold and 83.2 g/t silver over 30.0 metres from within the La Perla pit;
1.88 g/t gold and 56.8 g/t silver over 10.67 metres from drill hole north of La Perla pit;
3.97 g/t gold over 9.14 metres from drill hole at the El Orofino target
2.27 g/t gold and 13.7 g/t silver over 15.24 metres from drill hole at the El Gato target;
2.53 g/t gold and 29.6 g/t silver over 4.4 metres from excavation at La Perlita West; and
7.79 g/t gold and 173.0 g/t silver over 2.4 metres from excavation at La Perlita North
Ongoing work at Orofino will be aimed at defining drill targets.
Stock Options:
The Company has issued Cary Martin, Manager – Investor Relations 200,000 stock options at $0.10 and will be exercisable until June 20, 2013.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
Ian Foreman, P.Geo, is the Qualified Person, according to National Instrument 43-101, for the Orofino Project and is responsible for the technical data mentioned in this news release.
All of the samples mentioned in this release were prepared and analyzed by Inspectorate at their labs in Hermosillo and Vancouver and generally consisted of 2-4 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver and base metals were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver, 1% copper, 1% lead and/or 1% zinc (over limit) were re-analyzed using Inspectorate’s ‘ore grade’ detection limits.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at 604-678-2531.
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. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Visit the YLL showcase profile at Investorideas.com Request News and Info on YLL Disclosure, Disclaimer/ YLL is a paid advertising client on Investorideas.com and our mining portals.
The 3 Best Gold Picks for 2010
Thursday, June 24, 2010
Investorideas.com - Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) and Goldlake Group Signed an Agreement to Explore and Develop Gold Production on the El Torno Project in Argentina
Investorideas.com - Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) and Goldlake Group Signed an Agreement to Explore and Develop Gold Production on the El Torno Project in Argentina
Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) and Goldlake Group Signed an Agreement to Explore and Develop Gold Production on the El Torno Project in Argentina
Subscribe to Investor Ideas Gold & Mining News
Visit this company: www.solteramining.com
JUJUY, ARGENTINA - June 23, 2010 - Dr. Fabio Montanari, President and CEO of Soltera Mining Corp. (OTC:SLTA.PK; FRANKFURT:SN7), is pleased to announce that Soltera has signed an agreement with Goldlake Group, a world leader in the production of natural/ethical gold from alluvial deposits in Honduras, Central America. The first objective of the agreement is to develop eluvial gold production from the El Torno property in northern Argentina.
The 3 Best Gold Picks for 2010
This agreement has strategic value for both companies because on the one hand, it enables Soltera Mining to continue pursuing its goals of exploring and developing its flagship gold project El Torno through partnership with a mining entity with a solid reputation and, on the other hand, it allows the Goldlake Group to develop a new project concerned with the production of natural/ethical gold in line with the agreement to supply Cartier that has been active for one year.
full article - Investorideas.com - Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) and Goldlake Group Signed an Agreement to Explore and Develop Gold Production on the El Torno Project in Argentina
Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) and Goldlake Group Signed an Agreement to Explore and Develop Gold Production on the El Torno Project in Argentina
Subscribe to Investor Ideas Gold & Mining News
Visit this company: www.solteramining.com
JUJUY, ARGENTINA - June 23, 2010 - Dr. Fabio Montanari, President and CEO of Soltera Mining Corp. (OTC:SLTA.PK; FRANKFURT:SN7), is pleased to announce that Soltera has signed an agreement with Goldlake Group, a world leader in the production of natural/ethical gold from alluvial deposits in Honduras, Central America. The first objective of the agreement is to develop eluvial gold production from the El Torno property in northern Argentina.
The 3 Best Gold Picks for 2010
This agreement has strategic value for both companies because on the one hand, it enables Soltera Mining to continue pursuing its goals of exploring and developing its flagship gold project El Torno through partnership with a mining entity with a solid reputation and, on the other hand, it allows the Goldlake Group to develop a new project concerned with the production of natural/ethical gold in line with the agreement to supply Cartier that has been active for one year.
full article - Investorideas.com - Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) and Goldlake Group Signed an Agreement to Explore and Develop Gold Production on the El Torno Project in Argentina
Investorideas.com - Kitcommentary from Kitco Metals Inc. - "Hen(e)ry Hawks Routed From Roost?"
Investorideas.com - Kitcommentary from Kitco Metals Inc. - "Hen(e)ry Hawks Routed From Roost?"
Jon NadlerSenior Analyst
Kitco Metals Inc.
Thursday - June 24, 2010
Category: Investment, Gold, Mining
Subscribe to Investor Ideas Gold & Mining News
Visit this company: www.kitco.com
Good Morning,
(Investorideas.com Mining stocks newswire) The Fed's inaction on interest rates gave further indications that it is still preoccupied with falling prices rather than the opposite. The unsurprising announcement came on the back of coincidental statistical data release showing a 33% cratering in new home sales. Coupled with an anemic private sector payroll situation, the above factors prompted the FOMC to reaffirm its 'extended period' stance. A stance of a different kind was once again exhibited by dissenting Fed policy maker Thomas Hoenig, who warned that the asset bubbles being created by virtually free money could have unwelcome consequences.
The 3 Best Gold Picks for 2010
Worries that the European market theatre drama could make a limited-engagement run on the US stage were also expressed during the Fed meeting, albeit the effects of such a contagion were deemed as 'modest' if in fact the US were to become infected. More of a concern for the US central bank is the potential for a misfire in the global economic recovery's engine, at this point.
Such renewed apprehensions were seen denting European as well as US stock futures this very morning. A similar set of worries undermined crude oil prices as the trading day got underway. Risk appetite thus became truncated and the dollar picked up in value, edging closer to 86 on the index. However, the same type of safe-haven bid did not materialize in gold for a change this morning.
New York spot metals dealings opened under liquidation pressure as the dollar's strength finally restored some of the inverse relationship (vis a vis gold) that had been lacking for several weeks now. Thus, gold opened with an $8.10 per ounce decline at $1229.20 amid global growth jitters and further position-squaring as the month draws to a close. On the technical side of things, the bulls may still be flying the ruling banner, but several worrisome momentum studies previously cited in these columns were further corroborated by Monday's observations in Merv Burak's weekly posting (here on Kitco).
Merv noted that "the [gold] momentum indicator has been continually showing a loss of strength on each successive move into new highs since reaching its peak in 2006. This latest gold move into new highs has not yet been confirmed by the momentum indicator. It remains below its level from the previous Dec high. The momentum cannot keep losing strength on each move. At some point it must either start to improve by moving above previous peaks or the strength of the moves will go negative."
He also cautioned that "the other indicator that is not all that positive is the daily (or weekly) volume action. The daily volume going into this week's high prices is considerably below the volume that moved gold into its highs in mid-May or into its previous highs last Dec. Moving into new high territory with decreasing volume activity is never a bullish sign."
US jobless claims fell more than expected, and so did durable goods orders. The data set engendered pared losses in both crude oil and gold shortly after it was released, once again underscoring the extent to which sentiment related to growth or contraction in the economy remains firmly in the driver's seat of markets and on participants' minds.
Silver opened with an 18 cent per ounce drop, and was quoted at $18.33 bid this morning. A hefty $28 fall in platinum and a fairly sizeable $11 decline in palladium were on tap for the start of the trading day. Meanwhile rhodium remained steady at $2390.00 the ounce after having gained a modest $10 during the previous trading day. Overnight gold purchases in India were fairly scarce once again as locals appeared to be holding out for more sizeable declines in gold prices before taking the wallet-thinning plunge. Perhaps this morning's dip in the yellow metal to under $1230 might offer some inducement to shoppers.
Other shoppers (of the US variety) are already being lured with price cuts by Wal-Mart and other retail giants, but they still appear not to be taking the bait due to the jobs picture and an uncertain mood. Such consumption anemia was just one of the worry factors that were manifest in the 'fine print' of the Fed announcement on Wednesday. Whether or not the anticipated price hikes to be baked into Chinese-sourced products in the wake of the yuan's quasi-de-pegging from the greenback will materialize or be 'subsidized' by chain store 'incentives' remains to be seen. America needs to get shopping as economists see it, and the Fed concurs.
Gold miners all over Oz sported huge but perhaps premature grins this morning as Ms. Julia Gillard –the country's first female PM- took office and pledged to repair damaged relations with them. The proposed-and highly controversial 40% tax on mining profits is seen as having cost PM Kevin Rudd his job as the mining industry 'leaned' on every conceivable channel to avert it. A blitzkrieg of anti-tax ads and other opinion-shaping devices were unleashed in order to prevent such a measure from becoming reality.
The country's largest industry can now declare 'success' in this battle, but only for the moment, and only as it applies to having removed one knight from the chess board. The Aussie government's pledge to bring the country's budget into surplus by 2013 by definition implies that some form of super profits tax is still in the cards for the miners. It is about how much, in what form, and when – not IF. Especially since Ms. Gillard has appointed the principal advocate of the "Henry Tax" –Mr. Swan as her Deputy PM. The 'swan' song for this tax scheme, well, all that can be said is that it has not (yet) been sung.
Today's summation comes from jovial George. Gero, that is. Fellow (but much more optimistic) Hungarian. RBC resident guru. Always curious. Says he:
"Thinning volume, book-squaring and today's options expirations could lead to more volatile gold prices as well as just the lack of buyers in the summer."[We] can't find new bullish news," says George Gero, vice president of global futures at RBC Capital Markets. "We hit $1,250 three times. But the technical picture is still $1,175 support and $1,250 resistance for now."
Meanwhile, the editor of Stock Traders Daily, Thomas Kee Jr. observes that safe haven plays are possibly running on fumes:
"A short while ago, it did not seem that interest rates would remain low for very much longer. Now, US treasuries have almost become a speculative instrument. This is a major concern. We all understand why investors are looking for a safe haven. The risks are real, investors had been afraid of Europe, and the United States will probably never default, unlike other countries.
Europe's fears are taming, for a while, and that should have brought with it a lesser demand for Treasuries. I now consider a flight to safety to be quite speculative. Every blip on the radar sees a rash of money into US treasuries. Immediately, there is a bubble in both the treasury market and the gold market (GLD). My analysis tells me that this is largely due to smaller investors at this stage in the cycle."
Happy (Careful)Trading. Beware of month-end related potholes as well as sharp turns. $20 moves should not surprise just when action appears to be most lethargic.
Jon NadlerSenior AnalystKitco Metals Inc.North AmericaUS & Canada Toll Free: 1 (877) 839-8036Websites: www.kitco.com and www.kitco.cnBlog: http://www.kitco.com/ind/index.html#nadlerE-mail: jnadler@kitco.com
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Published at www.Investorideas.com - Global research by sectors
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Jon NadlerSenior Analyst
Kitco Metals Inc.
Thursday - June 24, 2010
Category: Investment, Gold, Mining
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Good Morning,
(Investorideas.com Mining stocks newswire) The Fed's inaction on interest rates gave further indications that it is still preoccupied with falling prices rather than the opposite. The unsurprising announcement came on the back of coincidental statistical data release showing a 33% cratering in new home sales. Coupled with an anemic private sector payroll situation, the above factors prompted the FOMC to reaffirm its 'extended period' stance. A stance of a different kind was once again exhibited by dissenting Fed policy maker Thomas Hoenig, who warned that the asset bubbles being created by virtually free money could have unwelcome consequences.
The 3 Best Gold Picks for 2010
Worries that the European market theatre drama could make a limited-engagement run on the US stage were also expressed during the Fed meeting, albeit the effects of such a contagion were deemed as 'modest' if in fact the US were to become infected. More of a concern for the US central bank is the potential for a misfire in the global economic recovery's engine, at this point.
Such renewed apprehensions were seen denting European as well as US stock futures this very morning. A similar set of worries undermined crude oil prices as the trading day got underway. Risk appetite thus became truncated and the dollar picked up in value, edging closer to 86 on the index. However, the same type of safe-haven bid did not materialize in gold for a change this morning.
New York spot metals dealings opened under liquidation pressure as the dollar's strength finally restored some of the inverse relationship (vis a vis gold) that had been lacking for several weeks now. Thus, gold opened with an $8.10 per ounce decline at $1229.20 amid global growth jitters and further position-squaring as the month draws to a close. On the technical side of things, the bulls may still be flying the ruling banner, but several worrisome momentum studies previously cited in these columns were further corroborated by Monday's observations in Merv Burak's weekly posting (here on Kitco).
Merv noted that "the [gold] momentum indicator has been continually showing a loss of strength on each successive move into new highs since reaching its peak in 2006. This latest gold move into new highs has not yet been confirmed by the momentum indicator. It remains below its level from the previous Dec high. The momentum cannot keep losing strength on each move. At some point it must either start to improve by moving above previous peaks or the strength of the moves will go negative."
He also cautioned that "the other indicator that is not all that positive is the daily (or weekly) volume action. The daily volume going into this week's high prices is considerably below the volume that moved gold into its highs in mid-May or into its previous highs last Dec. Moving into new high territory with decreasing volume activity is never a bullish sign."
US jobless claims fell more than expected, and so did durable goods orders. The data set engendered pared losses in both crude oil and gold shortly after it was released, once again underscoring the extent to which sentiment related to growth or contraction in the economy remains firmly in the driver's seat of markets and on participants' minds.
Silver opened with an 18 cent per ounce drop, and was quoted at $18.33 bid this morning. A hefty $28 fall in platinum and a fairly sizeable $11 decline in palladium were on tap for the start of the trading day. Meanwhile rhodium remained steady at $2390.00 the ounce after having gained a modest $10 during the previous trading day. Overnight gold purchases in India were fairly scarce once again as locals appeared to be holding out for more sizeable declines in gold prices before taking the wallet-thinning plunge. Perhaps this morning's dip in the yellow metal to under $1230 might offer some inducement to shoppers.
Other shoppers (of the US variety) are already being lured with price cuts by Wal-Mart and other retail giants, but they still appear not to be taking the bait due to the jobs picture and an uncertain mood. Such consumption anemia was just one of the worry factors that were manifest in the 'fine print' of the Fed announcement on Wednesday. Whether or not the anticipated price hikes to be baked into Chinese-sourced products in the wake of the yuan's quasi-de-pegging from the greenback will materialize or be 'subsidized' by chain store 'incentives' remains to be seen. America needs to get shopping as economists see it, and the Fed concurs.
Gold miners all over Oz sported huge but perhaps premature grins this morning as Ms. Julia Gillard –the country's first female PM- took office and pledged to repair damaged relations with them. The proposed-and highly controversial 40% tax on mining profits is seen as having cost PM Kevin Rudd his job as the mining industry 'leaned' on every conceivable channel to avert it. A blitzkrieg of anti-tax ads and other opinion-shaping devices were unleashed in order to prevent such a measure from becoming reality.
The country's largest industry can now declare 'success' in this battle, but only for the moment, and only as it applies to having removed one knight from the chess board. The Aussie government's pledge to bring the country's budget into surplus by 2013 by definition implies that some form of super profits tax is still in the cards for the miners. It is about how much, in what form, and when – not IF. Especially since Ms. Gillard has appointed the principal advocate of the "Henry Tax" –Mr. Swan as her Deputy PM. The 'swan' song for this tax scheme, well, all that can be said is that it has not (yet) been sung.
Today's summation comes from jovial George. Gero, that is. Fellow (but much more optimistic) Hungarian. RBC resident guru. Always curious. Says he:
"Thinning volume, book-squaring and today's options expirations could lead to more volatile gold prices as well as just the lack of buyers in the summer."[We] can't find new bullish news," says George Gero, vice president of global futures at RBC Capital Markets. "We hit $1,250 three times. But the technical picture is still $1,175 support and $1,250 resistance for now."
Meanwhile, the editor of Stock Traders Daily, Thomas Kee Jr. observes that safe haven plays are possibly running on fumes:
"A short while ago, it did not seem that interest rates would remain low for very much longer. Now, US treasuries have almost become a speculative instrument. This is a major concern. We all understand why investors are looking for a safe haven. The risks are real, investors had been afraid of Europe, and the United States will probably never default, unlike other countries.
Europe's fears are taming, for a while, and that should have brought with it a lesser demand for Treasuries. I now consider a flight to safety to be quite speculative. Every blip on the radar sees a rash of money into US treasuries. Immediately, there is a bubble in both the treasury market and the gold market (GLD). My analysis tells me that this is largely due to smaller investors at this stage in the cycle."
Happy (Careful)Trading. Beware of month-end related potholes as well as sharp turns. $20 moves should not surprise just when action appears to be most lethargic.
Jon NadlerSenior AnalystKitco Metals Inc.North AmericaUS & Canada Toll Free: 1 (877) 839-8036Websites: www.kitco.com and www.kitco.cnBlog: http://www.kitco.com/ind/index.html#nadlerE-mail: jnadler@kitco.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.
Connect with Investorideas.com
Publish Your News - Send a 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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