Thursday, September 27, 2012

Mining Stock News: SilverCrest (TSX.V: SVL) Reports High Grade Surface Sampling and Additional Drill Results - 157m @ 94.1 gpt Ag Eq* at La Joya

VANCOUVER, BC - September 27, 2012 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX-V:SVL)(NYSE MKT:SVLC) (the "Company") is pleased to announce the results of an additional 15 holes of the Phase II drill program and additional surface sampling currently underway at its La Joya Property in Durango, Mexico. The Phase II drill program has been expanded by 10 holes to 90 holes totaling 20,000 metres. Phase II drilling reported to date has extended the Main Mineralized Trend ("Trend") beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.*(see News releases dated March 20 and May 7, 2012 and attached figure). Newly constructed drill roads have exposed high grade surface mineralization with Ag Eq values ranging from 72.6 grams to 187.6 grams over sample intervals ranging from 39.7 metres to 99 metres. Drilling and surface sampling has now extended the Trend to approximately 2.5 kilometres with an average width of approximately 700 metres. Please reference our revised website at www.silvercrestmines.com for more information, photos and figures on La Joya.

J. Scott Drever, President stated: "Since announcing the Inferred Resource of more than 100 million ounces Ag Eq. at La Joya, we have completed an additional 64 core holes in the expanded Phase II program of 70 core and 20 RVC holes. The drill results continue to support our large tonnage silver deposit model and the extensive surface sampling in conjunction with certain drill holes support the concept of a potentially higher grade, open pit concept. The remaining drill holes will be directed to establishing additional resources and a basis for a conceptual open pit evaluation."
Drilling and surface sampling confirms the presence of multiple mineralized systems with metal content dependent on proximity to an underlying intensive body which comes to surface in the southwest portion of the Trend. There is distinct zonation of metals both vertically and laterally that has created an Ag, Au, Cu zone along the main portion of the Trend and a near surface tungsten (W), Cu, Au zone on the southwest portion of the Trend. Tungsten mineralization adjacent to the intrusive(s) is found in virtually all the holes drilled to date.
Five of the 15 holes reported in the tables and text below continued to test the southern extension of the Trend and the remaining 10 holes focused on the delineation of the Contact Zone within the Trend and Santo Nino Target. An extensive, channel surface sampling program along new road cuts has been completed within the Trend and subsequent Contact Zone area with 196 recent assay results. Composites of the surface sampling results are presented in the Tables below and attached figure.
Silver values in this series of core holes and surface channel samples along the Trend range from 1.6 gpt to 119.1 gpt and on a silver equivalent* basis values range from 11.0 gpt to 200.3 gpt Ag Eq. Mineralized intervals range from 8.9 metres to 305.0 metres. True thicknesses of mineralized intercepts can be approximated from cross sections of previously announced drill holes in associated areas. The most significant assay results are shown in the following tables;
Main Mineralized Trend (Ag, Au, Cu)
Investorideas.com Newswire
* Silver equivalency includes silver, gold and copper and excludes lead, zinc, molybdenum, tin and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on 5 year historic metal price trends of US$24/oz silver, US$1200/oz gold, US$3/lb copper. 100% metallurgical recovery is assumed. All numbers are rounded.
Intervals are sampled or drilled widths. True thicknesses of mineralized intercepts can be approximated from cross sections of previously announced drill holes in associated areas
All sample analyses presented in this news release were completed by ALS Chemex in Zacatecas, Mexico and North Vancouver, BC, Canada.
Mineralized Trend Surface Sampling
Continuous surface channel sampling along newly cut access roads has helped define the potential of near-surface higher grade Ag-Au-Cu mineralization in the central and southern areas of the Trend. Results represent new surface exposures of both manto and structure/stockwork related mineralization with up to 99 metres grading 116.8 gpt Ag, 0.32 gpt Au, 0.63% Cu or 187.6 gpt Ag Eq.
Investorideas.com Newswire
* Silver equivalency includes silver, gold and copper and excludes lead, zinc, molybdenum, tin and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on 5 year historic metal price trends of US$24/oz silver, US$1200/oz gold, US$3/lb copper. 100% metallurgical recovery is assumed. All numbers are rounded.
Intervals are sampled or drilled widths. True thicknesses of mineralized intercepts can be approximated from cross sections of previously announced drill holes in associated areas.
Contact Zone (W, Cu, Au) and Santo Nino Target (massive sulphides, W, Cu)
Eight holes were drilled on the near-surface portion of the Contact Zone which is located within the Trend boundaries but is a separate target from the manto and structure mineralization. The Trend mineralization is located geologically and vertically above the Contact Zone. The Contact Zone mineralization consists of skarning with stockwork veining and occurs adjacent to intrusive stock and dykes which are exposed at surface in the southwestern portion of the Trend. Copper and gold values appear to be higher on the eastern edge of the Contact Zone compared to the western edge. Contact Zone holes also contain anomalous Pb, Zn, Mo and Sn.
Partial drilling of the Contact Zone shows consistent intercepts of wide-spread tungsten (W03), gold (Au), copper (Cu) mineralization from surface to depth (up to approximately 300 metres vertical). All drilling to date that has intercepted intrusive(s) has also intercepted the Contact Zone over an area of approximately 2.5 kilometres by 1.2 kilometre with estimated thicknesses ranging from 10 to 200 metres. The Contact Zone is considered a "potential large bulk tonnage tungsten target" which will be presented in the next resource estimation due in Q4 2012. Continuous channel sampling along new access roads shows tungsten mineralization up to 305 metres grading 0.063% W03 with anomalous grades of Au, Cu, Ag (see Table below and attached Figure).
Hole L J DD12-74 was drilled on the Santo Nino Target approximately 1 kilometre east of the Trend and intercepted 35.2 metres of massive and semi-massive sulphides grading 52.2 gpt Ag, 0.05 gpt Au and 1.6% Cu with 0.037% W03. This is considered a new discovery at La Joya. Further drilling is planned to determine the dimensions of this mineralization.
Contact Zone and Santo Nino Target (W, Cu, Au)
Investorideas.com Newswire
* Silver equivalency includes silver, gold and copper and excludes lead, zinc, molybdenum, tin and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on 5 year historic metal price trends of US$24/oz silver, US$1200/oz gold, US$3/lb copper. 100% metallurgical recovery is assumed. All numbers are rounded.
Intervals are sampled or drilled widths. True thicknesses of mineralized intercepts can be approximated from cross sections of previously announced drill holes in associated areas.
Near surface tungsten/molybdenum mineralization encountered in both the Contact Zone and at the adjacent Coloradito target have grades similar to current economic or potentially economic near surface bulk tonnage deposits such as Thompson Creek Mine, ID (0.046 to 0.081 % Mo), Endako, BC (0.030 to 0.046 % Mo) Sisson, NB (0.031% Mo, 0.094% WO3), and El Creston, Mexico (0.071% Mo, 0.06% Cu). All references are from public company websites. Tungsten mineralization at the Coloradito target is up to 116 metres thick grading 0.048% Mo to 0.098% WO3.
Hole L J DD12-67 and L J DD12-69 encountered only intrusive and showed no significant mineralization.
The Phase II drill program is designed to test approximately 2.5 kilometres of the Trend which includes at least 8 near-vertical structures/stockwork zones, 14 near-horizontal, stacked mantos plus the Contact Zone which is adjacent to the underlying intrusive. Drilling on the southern extension of the Trend and Contact Zone continues with three core drill rigs. A reverse circulation drill is expected to be added in October 2012. Based on Company surface mapping, sampling and historic drill hole results, the southern area is thought to be potentially the highest grade area along the Trend. The Company is currently examining the potential for a near-surface, higher grade, low strip open pit as a conceptual "starter pit" that will be evaluated in an upcoming Preliminary Economic Assessment.
Core samples for holes L J DD12-75 to L J DD12-90 are currently being logged, sampled or are in the laboratory for analysis. The Company is currently drilling hole L JDD12-93 located on the southern part of the Trend. Assays for the next series of holes will be reported upon receipt and compilation. Several holes contain anomalous molybdenum, tungsten, tin, lead and zinc values over significant widths in the skarn. The significance of these associated mineral zones is being examined with partial near-surface tungsten results presented in the Table above.
The La Joya Deposit (Mineral Mineralized Trend) currently has estimated Inferred Resources of:
Investorideas.com Newswire
* Silver equivalency includes silver, gold and copper and excludes lead, zinc, molybdenum and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on 5 year historic metal price trends of US$24/oz silver, US$1200/oz gold, US$3/lb copper. 100% metallurgical recovery is assumed.
**Classified by EBA, A Tetra Tech Company and conforms to NI 43-101, 43-101CP, and CIM definitions for resources. All numbers are rounded. Inferred Resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than Measured and Indicated Resources.
*** Mineralization boundaries used in the interpretation of the geological model and resource estimates are based on cutoff grades of 15 gpt Ag Eq and 30 gpt Ag Eq using the metal price ratios described above.
Please refer to the January 4, 2012 news release and to the La Joya NI 43-101 Technical Report dated February 20, 2012 for further details of the Inferred Resource estimate.
The core drilling of the Phase II drill program is anticipated to be complete in October, 2012 with a subsequent revision and announcement of updated resources in Q4 2012. Extensive metallurgical test work is underway to examine the amenability and potential metallurgical recoveries of Ag, Au, Cu, W, Mo, Sn, Zn and Pb. Test work results will be presented in the next NI 43-101 Technical Report.
The current NI43-101 resource estimate for La Joya is 101.9 million ounces of silver equivalent as set out in the table above. Based on the current geologic model, drilling and sampling from the Phase I & II programs it is reasonable that the recently discovered mineralized systems could potentially result in a 50 to 100% increase in current inferred mineral resources. This potential increase in resources is conceptual in nature and insufficient exploration has been completed to define the additional mineral resource. It is uncertain that further exploration will result in the recently discovered mineralized systems being delineated as a new mineral resource.
The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.
SilverCrest Mines Inc. (TSX-V: SVL; NYSE MKT: SVLC) is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies which may give rise to conflicts of interests. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
J. Scott Drever, President
SILVERCREST MINES INC.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
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Friday, September 21, 2012

TSX Top Trader: Gold Stock CGA Mining (TSX:CGA) (ASX:CGX)

New York, New York - September 21, 2012 (Investorideas.com Mining stocks newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors reports on the top volume trader for Friday’s session. CGA Mining Limited (TSX:CGA.TO) (ASX:CGX) leads , trading at $2.99, gaining 0.20 or 7.17% as of 1:31PM EDT on over 14.6 Million shares. The stock had a high of $3.03.
Investorideas.com Newswire CGA is listed on the main board of the Toronto Stock Exchange and ASX. The Masbate Gold Project in the Philippines was successfully constructed with first gold poured mid-2009. The project has a total measured and indicated resource base of 5.13M ounces of gold, total inferred resource base of 2.83M ounces of gold and a proven and probable reserve of 3.097M ounces of gold.
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Wednesday, September 19, 2012

CGA Mining (TSX: CGA) (CGX.AX) Makes Wednesday's TSX Top Traders List on News of Merger with B2Gold Corp. (TSX: BTO) (BGLPF) (BGLPF)

New York, New York - September 19, 2012 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors issues a trading alert for CGA Mining (TSX: CGA) (CGX.AX) following merger news. The stock is trading at $2.92, gaining $0.27 or 10.19% as of 11:06AM EDT on over 18 Million shares, making it one of the top traders on the TSX.
B2Gold Corp. (BTO.TO) (BGLPF) (BGLPF) (NAMIBIAN:B2G) and CGA Mining Limited (CGA.TO)(CGX.AX) announced that they have entered into a definitive Merger Implementation Agreement ("Merger Agreement") to combine the two companies at the agreed exchange ratio of 0.74 B2Gold common shares for each CGA share held, which represents a purchase price of approximately C$3.18 per CGA share and a premium of 22% using the 20 day volume weighted average share price of each respective company, and a 26% premium over the CGA closing share price on September 17, 2012 based on the closing price for the B2Gold shares as of such date. The transaction is valued at approximately C$1.1 billion.
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Tuesday, September 18, 2012

Uranium Stock Denison Mines (TSX:DML) Makes TSX Morning Top Traders List; Gains over 12%

New York, New York - September 18, 2012 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors issues a trading alert for uranium stock, Denison Mines Corp. (TSX: DML.TO), trading at $1.59, up $ 0.18 or 12.77% as of 12:20PM EDT on over 5.5 Million shares, making it one of the top traders on the TSX today. The stock had a morning high of $1.63.
Investorideas.com Newswire Denison Mines Corp. is a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia. As well, Denison has a 22.5% ownership interest in the McClean Lake uranium mill, located in northern Saskatchewan, which is one of the world's largest uranium processing facilities. Denison's exploration project portfolio includes the world-class Phoenix deposit located on its 60% owned Wheeler River project also in the Athabasca Basin region of Saskatchewan.
Denison is engaged in mine decommissioning and environmental services through its Denison Environmental Services (DES) division. Denison is also the manager of Uranium Participation Corporation (TSX-U), a publicly traded company which invests in uranium oxide in concentrates and uranium hexafluoride.
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Friday, September 14, 2012

TSX Morning Top Volume Leaders; MFC, BBB.B, K, ABX, ELD

New York, New York - September 14, 2012 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors reports on the top volume traders on the TSX for September 14th. Gold stocks made the top five volume list, while energy stocks fell behind somewhat still making the top ten traders list as gold and oil prices were both in the green. The TSX and TSX Venture are both up at the time of this report, and all of the top traders are in positive territory.

  • Manulife Financial (TSX: MFC) is the top trading stock by volume, last at $12.710, up 0.570 or 4.70% on 4,966,385 shares.
  • Bombardier (TSX: BBD.B) is last at $3.800 on 4,188,321 shares.
  • Kinross Gold (TSX: K) is trading at $10.000, up 0.420 or 4.38% on volume of 3,874,754.
  • Barrick Gold (TSX ABX) is trading up at $41.150, gaining 0.830 or 2.06% on 3,781,451 shares.
  • Eldorado Gold (TSX: ELD) is last at $15.160, up 0.500 or 3.41% on 3,635,918 shares.
  • iShares S&P/TSX 60 Index Fund9 TSX: XIU) 18.040 0.190 1.06% 18.000 3,571,118
  • Talisman Energy (TSX: TLM) is trading at $14.500, moving 0.520 or 3.72% on 3,430,894 shares.
  • Suncor Energy (TSX: SU) is last at $34.220, up 1.040 or 3.13% on volume of 3,405,126.
  • Canadian Oil Sands (TSX: COS) is trading at $22.100, up 0.340 or 1.56% on 3,350,929 shares Semafo (TSX: SMF) is trading at $3.990, up 0.050 or 1.27% on 3,024,390 shares.
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Friday, September 07, 2012

TSX Morning Top Volume Leaders; ELR, K, TXG, PRU, PTQ

New York, New York - September 7, 2012 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors reports on the top volume traders on the TSX for September 7th. The TSX is trading up at 12,223.68, up 83.95 or 0.69% at the time of this report. Gold silver and copper are also up notably.
Eastern Platinum Limited (TSX: ELR) is the top trader, trading at $0.200, gaining $0.010 or 5.26% on volume of 4,044,173 shares.
Kinross Gold Corporation (TSX: K) is trading at $ 9.420, also in the green, up 0.460 or 5.13% on 3,078,789 shares.
Investorideas.com Newswire Torex Gold Resources Inc. (TSX: TXG) is last at $1.920, up 0.100 or 5.49% on 2,969,812 shares.
Perseus Mining Limited (TSX: PRU) is trading at $2.750, moving 0.090 or 3.38% to the upside on 2,680,590 shares.

Petaquilla Minerals Ltd. (TSX: PTQ) continues its run and is trading at $0.600, gaining 0.020 or 3.45% on 2,623,644 shares.
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Thursday, September 06, 2012

TSX Morning Top Trader; Petaquilla Minerals (TSX: PTQ) Spikes on Reports of Additional Reserves and Possible Inmet Mining Takeover

New York, New York - September 6, 2012 (Investorideas.com Newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors reports on the top volume trader on the TSX for September 6th. Petaquilla Minerals Ltd. (TSX: PTQ.TO) leads the TSX as the top trading, currently at $0.55, up 0.20 or 57.14% as of 1:12PM EDT on over 19 Million shares.

The shares jumped following rumblings of Inmet Mining Corp. (IMN) proposed C$112 million takeover. The Company then followed with a statement “Inmet has not made a formal offer and no action is required by Petaquilla shareholders at this time.”
esterday the Company reported that a resource and reserve estimate has been completed by Behre Dolbear & Company (USA) Inc. ("Behre Dolbear") for the Botija Abajo deposit, associated with its Molejon gold operations. A summary of Behre Dolbear's report is shown below. A complete National Instrument 43-101 compliant report on the Botija Abajo mineral resource and reserve estimate will be filed on the System for Electronic Document Analysis and Retrieval (SEDAR) shortly.
Investorideas.com Newswire Petaquilla Minerals is an established gold mining company that operates a producing gold mine in Panama. The 100 percent owned Molejon gold mine reached commercial production in January 2010 and currently operates at the rate of approximately 3,000 tonnes per day. http://www.petaquilla.com/
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http://www.tmx.com/
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BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
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Wednesday, September 05, 2012

TSX Morning Top Trader; Junior Miner Torex Gold Resources (TSX: TXG) Leads Following News on Expansion of Gold-Copper-Silver Discovery South of the Balsas

New York, New York –Sept 5, 2012 – (www.investorideas.com newswire,) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors reports on the top volume trader on the TSX for September 5th.  Torex Gold Resources Inc (TSX: TXG.TO) leads the top traders, currently at $1.76. down 0.04 or 2.22% as of 1:03PM on over 5.8 Million shares. The stock had a morning high of $1.80.

The Company reported news yesterday that drilling results continue to expand the gold-copper-silver mineralization at its Media Luna discovery located south of the Balsas River, on the Morelos Project in Mexico. In addition, work is continuing on several other high potential targets south of the Balsas River.

Significant intercepts include 5.65 g/t Au, 43.80 g/t Ag and 1.25% Cu over 15.4m in ML-04. A second intercept in ML-04 returned 4.31 g/t Au, 8.12 g/t Ag and 0.4% Cu over 12.7m. Drill hole ML-46A returned two significant intercepts, an upper intercept of 4.6 g/t Au, 5.9 g/t Ag and 0.12% Cu over 7.7m in magnetite skarn adjacent to marble and a second intercept commencing 20 meters further down the hole. The second intercept occurs in magnetite-pyroxene skarn and is significantly thicker, returning 43.9m with 2% Cu, 0.65 g/t Au, and 66.71 g/t Ag. This hole was prematurely stopped within the skarn mineralization and the total width of the lower zone is unknown and will require additional drilling.





Torex Gold Resources Inc. is a growth-oriented, Canadian mining company engaged in the exploration and development of precious metal resources with a focus on gold. It owns 100% of the Morelos Gold Project, a development stage gold property, located 180km southwest of Mexico City in the highly prospective Guerrero Gold Belt. Torex is aggressively exploring within its property to identify a pipeline of additional future economic deposits. The Project covers an area of 29,000ha of which more than 75% still remains unexplored.
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http://www.tmx.com/


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BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
800-665-0411 - Source – www.Investorideas.com



 

Wednesday, August 22, 2012

Mining and Silver Stock News: SilverCrest (TSX.V: SVL) Announces Trading on NYSE MKT to Commence August 27, 2012

VANCOUVER, BRITISH COLUMBIA - August 22, 2012 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX-V:SVL)(OTCQX:STVZF) (the "Company") is pleased to announce that its common shares have been authorized for listing on the NYSE MKT in New York. The shares will begin trading on the NYSE MKT on August 27, 2012 under the trading symbol "SVLC". The Company's common shares will continue to be listed on the TSX Venture Exchange under the trading symbol "SVL".

"This NYSE MKT listing represents another significant milestone in SilverCrest's growth," stated J. Scott Drever, SilverCrest's President. "The listing is expected to provide greater trading accessibility for investors in the United States and internationally."
SilverCrest Mines Inc. (SVL.V) operates in Mexico and is a low cost precious metals producer with its headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango, Mexico.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies which may give rise to conflicts of interests. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
J. Scott Drever, President
SILVERCREST MINES INC.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
Disclaimer: Investorideas.com does not make stock 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 and online advertising. Silvercrest Mines has compensated Investorideas for annual news publication and distribution and company profile: nine thousand seven hundred starting August 2012
More info: www.InvestorIdeas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894

Friday, August 17, 2012

TSX Mining Stock Alert: SilverCrest Mines (TSX-V: SVL) Moves Following Financial Results

New York, New York - August 17, 2012 (Investorideas.com Mining Stocks Newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors including mining stocks, issues a trading alert and stock chart for SilverCrest Mines Inc. (TSX-V:SVL)(OTCQX:STVZF).
The Company reported its financial results for the second quarter ended June 30, 2012 on Wednesday of this week. The stock moved from the $2.05- $2.10 level to trading as high as $2.49 today.
The stock is currently trading at $2.45, up 0.08(3.38%) 1:24PM EDT on over 368,000 shares.
Investorideas.com Mining Newswire HIGHLIGHTS OF Q2, 2012 (Compared to Q2, 2011):
Cash flow from operations (1) increased 148% to $7.2 million.
Cash operating cost per silver equivalent ounce sold (2) decreased 16% to $6.94.
Revenues reported - IFRS (3) rose 87% to $16.0 million on sales of 124,739 silver ounces and 8,679 gold ounces.

Comprehensive earnings amounted to $9.2 million ($0.10 ps), compared to $0.8 million ($0.01 ps).
Working capital increased 64% to $29.6 million, up from $18.0 million.
Cash and cash equivalents were $34.9 million (at June 30, 2012).
(All figures in U.S. dollars unless otherwise specified)
Full News:
http://www.investorideas.com/CO/ SVL/news/ 2012/08151.asp
SilverCrest Mines Inc. (TSX-V: SVL) (OTCQX: STVZF) operates in Mexico and is a low cost precious metals producer with its headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag: Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango, Mexico.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
About InvestorIdeas.com:
InvestorIdeas.com is a leader in investor stock research by sector, featuring stock news, commentary and trading alerts in leading sectors including biotech, tech, mining, energy, water, renewable energy, beverage stocks and more.
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Disclaimer: Investorideas.com does not make stock 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 and online advertising. Silvercrest Mines has compensated Investorideas for annual news publication and distribution and company profile: nine thousand seven hundred starting August 2012
More info: www.InvestorIdeas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
Contact Investorideas.com - 800 665 -0411

Wednesday, August 15, 2012

Mining Stock News: SilverCrest (TSX.V: SVL) Reports Q2, 2012 Financial Results

VANCOUVER, BRITISH COLUMBIA - August 15, 2012 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX-V:SVL)(OTC.BB:STVZF) (the "Company") is pleased to announce its financial results for the second quarter ended June 30, 2012 (all figures in U.S. dollars unless otherwise specified). HIGHLIGHTS OF Q2, 2012 (Compared to Q2, 2011):

  • Cash flow from operations (1)increased 148% to $7.2 million.
  • Cash operating cost per silver equivalent ounce sold (2)decreased 16% to $6.94.
  • Revenues reported - IFRS (3)rose 87% to $16.0 million on sales of 124,739 silver ounces and 8,679 gold ounces.
  • Comprehensive earnings amounted to $9.2 million ($0.10 ps), compared to $0.8 million ($0.01 ps).
  • Working capital increased 64% to $29.6 million, up from $18.0 million.
  • Cash and cash equivalents were $34.9 million (at June 30, 2012).
J. Scott Drever, President stated; "We had a strong second quarter of 2012. We sold 637,050 silver equivalent ounces (2), for gross revenues of $16.0 million, with an average cash operating cost of $6.94 per silver equivalent ounce. The Santa Elena low cost, open pit heap leach mine operations continue to perform well and generated cash flows of $7.2 million which will contribute to the financing of the Santa Elena Expansion plan and the development of our major polymetallic La Joya Project. Q2, 2012, production was consistent with our budget and cash operating costs were below our budget of $8.20 per silver equivalent ounce. As a result, we are confident in meeting or exceeding our 2012 production guidance of 435,000 silver ounces and 33,000 gold ounces."
Investorideas.com Mining Newswire
(1) Cash flow from operations before changes in working capital items.
(2) This is a Non-IFRS performance measure. Silver equivalent ounces consist of the number of ounces of silver production plus the number of ounces of gold production multiplied by the ratio of the spot gold price to the spot silver price at the quarter end dates. There are variances in produced and sold ounces due to carry forward inventories from previous quarter.
(3) Per "IFRS 18 - Revenue", revenue should be recorded at its fair value, which for gold and silver is the market spot price on the date revenue is recognized.
Comparison of Q2, 2012, to Q2, 2011
Comprehensive earnings were $9.2 million ($0.10 per share) compared with $0.8 million ($0.01 per share) for the same period in 2011. The significant increase in comprehensive earnings was largely driven by higher silver and gold sales volumes and a positive marked-to-market derivative impact, partially offset by lower realized silver and gold prices, increases in income and deferred tax expense and a larger exchange loss on translation to US Dollars.
In the second quarter 2012, silver and gold revenues totaled $16.0 million (2011 - $8.6 million), up 87% compared to the same quarter in 2011. Silver and gold revenues include $12.6 million (2011 - $6.2 million) earned on a cash basis and $2.7 million (2011 - $2.0 million) of non-cash revenues due to adjustments to gold spot market prices related to hedge facility deliveries and $0.7 million (2011 - $0.3 million) related to amortization of deferred revenues associated with the Sandstorm Agreement.
Silver sales were 124,739 ounces (2011 - 70,326) at an average realized price of $29 (2011 - $39). All silver production is unencumbered by hedging arrangements and sold at spot prices.
Gold sales were 8,679 ounces (2011 - 4,300). The Company sold 2,734 gold ounces (2011 - Nil) at market spot realized price of $1,649 (2011 - $Nil) per ounce. Gold delivered into the Hedging Facility was 4,210 ounces (2011 - 3,440) at an average realized price of $925 (2011 - $926). The non cash amount reported of $2.7 million (2011 - $2.0 million) represents the difference between the market spot price at the date of delivery for gold (at an average realized price of $1,574 (2011 - $1,510) per ounce) and the hedge price of $926.50 per ounce settled. This non-cash revenue reported is required by IFRS accounting policies. Gold delivered to Sandstorm was 1,735 ounces (2011 - 860) at an average realized gold price of $725 (2011 - $725) for which the Company recorded revenues of $1.3 million (2011 - $0.6 million) consisting of $0.6 million (2011 - $0.3 million) in cash received and $0.7 million (2011 - $0.3 million) from amortization of deferred revenue.
Cost of sales amounted to $4.4 million (2011 - $2.1 million). Cash cost per silver equivalent ounce sold amounted to $6.94 (2011 - $8.27). The decrease in cash cost per silver equivalent ounce over the same period in prior year reflects a significant increase in production volumes, crusher throughput and gold to silver ratio.
Under IFRS the Company's derivative instruments are fair valued at the financial position date, with the resulting gain or losses included in the operating results for the period. The derivative gain (loss) relates to the incremental fair value of the MBL Hedging Facility, which represents the difference between the market spot price of gold at the quarter end and strike price of $926.50 per ounce. Gain (loss) on derivative instruments during the period amounted to $2.4 million (2011 - ($3.5 million)) resulting from a change at the quarter end to $1,606 (2011 - $1,518) in the gold forward price from $1,671 (2011 - $1,456) in the previous quarter.
Comparison of Q2, 2012, to Q1, 2012
Comprehensive earnings were up 44% to $9.2 million ($0.10 per share), from $6.3 million ($0.07 per share). The increase in comprehensive earnings was largely driven by a positive marked-to-market derivative impact, partially offset by slightly lower sales volumes, lower realized silver and gold prices, lower income tax expense and exchange loss on translation to US Dollars.
Operating cash flows were down 41% to $7.2 million ($0.08 per share), from $12.2 million ($0.14 per share) primarily due to lower realized silver and gold prices and more gold deliveries into the Hedging Facility. The realized price of silver sales and gold spot sales were down 12% and 4% respectively. SilverCrest accelerated gold deliveries into the Hedging Facility, 4,210 ounces were delivered into the Hedging Facility during Q2 compared with 1,359 ounces in the previous quarter.
The financial information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2012 and associated MD&A which are available on the Company's website at www.silvercrestmines.com and under the Company's profile on SEDAR at www.sedar.com .
NON-IFRS PERFORMANCE MEASURES
The discussion of financial results in this press release includes reference to cash operating cost per silver equivalent ounce sold, which is a non-IFRS performance measure. The Company uses this measure to provide additional information regarding the Company's financial results and performance. Please refer to the Company's MD&A for the three and six months ended June 30, 2012, for a reconciliation of this measure to reported IFRS results.
OUTLOOK FOR REMAINDER OF 2012
SilverCrest's immediate focus is to continue to efficiently operate its flagship Santa Elena low cost open pit silver and gold mine, realize the full potential and value of the Santa Elena mine by executing the three year expansion plan to double metals production, and to rapidly advance the delineation of our major polymetallic deposit at the La Joya Property. Specific targets for H2, 2012 are as follows:
Santa Elena Open Pit Production
  • Meet or exceed estimated 2012 production, 33,000 gold ounces and 435,000 silver ounces;
  • Maintain cash operating cost at or below plan of $8.20 per ounce silver equivalent sold (55:1 Ag:Au);
  • Maintain operating cash flow in excess of $2 million per month, based on current silver and gold prices
Santa Elena Expansion
  • Complete underground decline development of main ramp, approximately 550 metres complete with, 950 metres remaining;
  • Secure long lead time items for mill and initiate tank fabrication;
  • Drill Santa Elena along strike and depth to expand underground resources;
  • Complete Pre-Feasibility Study on Expansion Plan (underground and mill);
  • Complete Pre-Feasibility Study on Cruz de Mayo satellite deposit as part of the Expansion Plan;
  • Continue site and regional exploration for further discoveries;
La Joya Project
  • Complete Phase II 80 hole drilling program (15 core and 20 reverse circulation drill holes remaining);
  • Explore the Coloradito, Esperanza and Santo Nino targets which are adjacent to the MMT;
  • Complete further metallurgical test work to initially determine amenability and potential polymetallic recoveries for Ag, Cu, Au, Pb, Zn, W, Sn, and Mo;
  • Complete revised resource estimation using Phase II results by Q4 2012.
N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. and Qualified Person for this news release has reviewed and approved its contents.
SilverCrest Mines Inc. (SVL.V) (STVZF) operates in Mexico and is a low cost precious metals producer with its headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango, Mexico.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies which may give rise to conflicts of interests. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
J. Scott Drever, President
SILVERCREST MINES INC.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108
Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
Disclaimer: Investorideas.com does not make stock 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 and online advertising. Silvercrest Mines has compensated Investorideas for annual news publication and distribution and company profile: nine thousand seven hundred starting August 2012
More info: www.InvestorIdeas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894

Friday, July 13, 2012

Junior Gold Stock News; Evolving Gold (TSX: EVG) Makes List of Top Percentage Gainers on TSX

New York, NY - July 13, 2012 (Investorideas.com Newswire) Investor Ideas, www.InvestorIdeas.com, a global investor research portal for independent investors, issues a trading alert for junior gold stock, Evolving Gold (TSX: EVG), trading up at $0.34, gaining 0.08 or (28.30%) as 10:56AM EDT. EVG is one of the top percentage gainers on the TSX in morning trading.

On July 11 the Company reported that diamond drill hole CAR-016.1 intersected several high grade gold zones at its Carlin Project in Nevada, including 9.1 meters at 22.0 gpt (grams per tonne) gold (30.0 feet at 0.64 ounces per ton, opt gold) starting at 908.3 meters down hole. This intersection includes 1.2 meters at 44.0 gpt gold (4.0 feet at 1.28 opt gold). In addition CAR-016.1 intersected 1.2 meters at 15.5 gpt gold (4.0 feet at 0.45 opt gold) starting at 897.9 meters down hole. The entire interval from 897.9 to 917.4 (19.5 meters or 64.0 feet) averages 11.76 gpt gold (0.34 opt gold), including a lower grade interval at 899.2-908.3 meters.
Carlin Drill Map: http://www.evolvinggold.com/properties/carlin/map.html
About Evolving Gold Corp.
Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and its gold discovery at Rattlesnake Hills, Wyoming.
www.evolvinggold.com.
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Monday, July 09, 2012

Gold and Mining Stocks; Preliminary Results from the Deep Hole Program Confirms Extension of Gold Mineralization 800 Metres Down Plunge and 900 Metres Vertical Depth - Gold Bullion Development Corp. (TSX-V: GBB)

VANCOUVER - July 9, 2012 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (TSXV: GBB, OTC PINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce preliminary drill results from holes and wedge holes located to the north of the existing mineralized area of the Granada Gold Property. The subject property is located along the prolific Cadillac trend in North-western Quebec, 5 km south of the city of Rouyn-Noranda.

Frank Basa, Gold Bullion's CEO, is very encouraged by results that consistently demonstrate the presence of widespread significant gold on the Granada property. Hole DUP-12-02 intercepted 4.15 grams Au per tonne over a 3 metre core length at 615 metres and 4.58 grams per tonne Au over 3 metres at 995 metres depth.
The drill plan initially called for three deep holes with one wedge in each hole and commenced with hole DUP-12-03. Due to excessive deviation, this hole was subsequently abandoned at the 400-metre level. Hole DUP-12-03A, located 400 metres NNE (12 degrees North) of hole GR-11-390 was drilled just 25 metres to the west of DUP-12-03 and down to a depth of 1,323 metres. Three wedge holes W1, W2 and W3 were put into DUP-12-03A.
Hole DUP-12-02, located 830 metres NNE (24 degrees North) of hole GR-11-390, was drilled down to 1,593 metres with one wedge hole added, W1.
Due to the success of DUP-12-03A, DUP-12-02 and the associated wedges, (observation of visible gold and typical alteration zones) and in conjunction with the observation of visible gold in the western extension holes GR-11-375 and GR-11-363 in the backlog program, the drill was reassigned to the western extension to further evaluate near surface mineralization and hole DUP-12-01 drilling was temporarily put on hold.
The following table contains the highlights of the preliminary results. These additional gold fire assay results continue to demonstrate low grade, high tonnage, near surface intersections while also confirming specific high-grade zones at depth with thickness and grade suitable for underground mining.
Investorideas.com Newswire Core length close to true thickness
Blanks and standards were inserted into the sequence at the QA/QC Laboratory while the 50-gram fire assay results were provided by Accurassay Laboratory prepared in Rouyn. Fire assays were conducted at their facility in Ontario.
Frank Basa, Gold Bullion's CEO, is pleased as results continue to demonstrate the presence of widespread significant gold on the Granada property in support of the hypothesis encompassing both a low grade near surface mine and a higher grade underground mine.
Claude Duplessis, Eng. is acting as the qualified person (QP) for Gold Bullion Development Corp. in compliance with National Instrument 43-101 and has reviewed the technical contents of this press release.
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 Property near Rouyn-Noranda, Qu�bec. Additional information on the company's Granada gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.
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.
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Thursday, July 05, 2012

Gold Stocks; Gold Bullion Development Corp. (TSX-V: GBB) files counter-claim against Genivar Inc.

VANCOUVER - July 4, 2012 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (TSXV: GBB, OTC PINK: GBBFF) (the "Company" or "Gold Bullion") today announced that it had filed a counter-claim against Genivar Inc. before the Superior Court of Quebec (500-17-070970-127). In its counter-claim, Gold Bullion is claiming the amount of $25,431,906.10 in damages from Genivar as a result of the failure by the latter to properly perform its contractual obligations in relation to the Granada and Castle Mines projects. In the same proceeding, Gold Bullion also denied owing the amount of $783,652.06 which Genivar is claiming.

"No company ever wants to have to file a claim of this nature before the Courts," said Frank Basa , President and CEO of Gold Bullion Development Corp., "but we believe we had no other alternative in the matter. Genivar's failure to properly perform the work it was hired for in relation to the Granada and Castle Mines caused us substantial damages and the loss of at least one very interesting business opportunity."
The respective claims will now make their way through the Quebec Court system, where Gold Bullion firmly intends to assert its rights.
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 Property near Rouyn-Noranda, Quebec. Additional information on the company's Granada gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.
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.
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Request News and Info on GBB
Disclosure, Disclaimer/ GBB is a paid advertising client on Investorideas.com and our mining portals.
Disclosure, Disclaimer/ Investorideas.com is paid by GBB to publish news and distribute content through Investordeas.com Newswire and its syndicated partners and blogs (five hundred per month)