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LARGO RESOURCES LTD
Drilling Confirms Extensive Vanadium-PGM Deposit at Largo's Maracas Project (Brazil)
10/17/2007
- 41 of 42 holes intersect significant Vanadium-PGM mineralization
TORONTO, ONTARIO, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Largo Resources Ltd. (TSX VENTURE: LGO) is pleased to provide a further update on its exploration program in progress on the Company's 2,000 hectare Maracas Vanadium-PGM property located 250 kilometres west of Salvador, Bahia, Brazil.
To date, 45 diamond drill holes totalling 11,196 metres have been completed on the Gulcari "A" deposit in order to expand and upgrade the Vanadium-PGM mineralization and the previously announced inferred mineral resource of 15.0 million tonnes grading 1.37% Vanadium Pentoxide (V2O5) (see press release November 22, 2006). Results were previously released for 16 holes (see press releases May 22, 2007, June 19, 2007 and July 18 2007). Three holes were drilled for geotechnical and metallurgical purposes (FGA81, FGA84 and FGA85). Significant results for the remaining 26 holes are summarized in Table 1.
Highlights from the new results include:
- FGA73 - 40.0 metres true width at 1.62% V2O5 and 0.34 g PGM/t (0.24 g Pt/t and 0.10 g Pd/t) and 17.5 metres true width at 2.81% V2O5 and 0.59 g PGM/t (0.54 g Pt/t and 0.05 g Pd/t)
- FGA74 - 39.0 metres true width grading 1.86% V2O5 and 0.27 g PGM/t (0.24 g Pt/t and 0.03 g Pd/t) including 25.0 metres true width grading 2.15% V2O5, and 0.25 g PGM/t (0.21 g Pt/t and 0.04 g Pd/t)
- FGA77 - 17.9 metres true width grading 2.37% V2O5, and 0.25 g PGM/t (0.22 g Pt/t and 0.03 g Pd/t))
- FGA79 - 70.0 metres true width grading 1.60% V2O5, and 0.32 g PGM/t (0.26 g Pt/t and 0.06 g Pd/t)) including 38.0 metres true width grading 2.32% V2O5, and 0.43 g PGM/t (0.35 g Pt/t and 0.08 g Pd/t)
- FGA87 - 22.0 metres true width grading 1.82% V2O5, and 0.41 g PGM/t (0.19 g Pt/t and 0.22 g Pd/t))
- FGA89 - 59.0 metres true width grading 2.11% V2O5, and 0.26 g PGM/t (0.19 g Pt/t and 0.07 g Pd/t)) including 36.0 metres true width grading 2.40% V2O5 and 0.27 g PGM/t (0.20 g Pt/t and 0.07 g Pd/t)
- FGA95 - 65.0 metres true width grading 1.46% V2O5, and 0.21 g PGM/t (0.11 g Pt/t and 0.10 g Pd/t))
- FGA97 - 50.3 metres true width grading 1.83% V2O5, and 0.47 g PGM/t (0.28 g Pt/t and 0.19 g Pd/t)) including 29.3 metres true width grading 2.26% V2O5, and 0.50 g PGM/t (0.34 g Pt/t and 0.16 g Pd/t)
Andy Campbell, P.Geo., Vice President Exploration commented: "Of the 42 holes drilled to expand and upgrade the resource, only one hole did not intersect the magnetite-rich layer confirming the excellent continuity of the Gulcari "A" deposit. Twenty of the 42 holes returned intersections that significantly exceeded the average grade (1.35% V2O5) and average true width (25m) of the original deposit. The deposit, which now extends 400m along strike and to a depth of 300m, is still open along strike as well as at depth."
Largo President & CEO Mark Brennan commented: "We are delighted with the results of the drilling program which have exceeded expectations. The updated resource estimate, which is in progress, will form the basis for an expanded scoping study including PGMs. Engineering work on the metallurgy is also well advanced."
PGM Exploration
The Gulcari "A" deposit is part of a mineralizing system that extends for 8 kilometres across the property. Results from drilling of the deposit indicate that the PGM mineralization is related to the disseminated sulphides in the massive magnetite zone. The PGM mineralization is significant and consistent throughout the massive magnetite lens with a very high Pt:Pd ratio averaging about 4:1, which is a comparable ratio to the Great Dyke. Of particular interest is Hole FGA-80 which intersected 3.93 g Pt/t and 0.21 g Pd/t (4.14 g PGM/t) over 1.0m in a section with 3-7% sulphides but very low magnetite. This suggests in addition to the magnetite lens, there is excellent potential for outlining higher grade PGM mineralization that may not be directly associated with magnetite.
With drilling on the main deposit complete, exploration has now shifted focus to test other areas along the system including, from north to south, Nova Amparo, Sao Jose and Gulcari "B". Eleven (11) shallow drill holes totalling 1,952 metres have now been completed at Nova Amparo located 4 km to the north of Gulcari "A" to test for PGMs associated with a magnetite lens. The initial indications from this drilling are that there are more sulphides associated with the magnetite at Nova Amparo compared to Gulcari "A". Assay results are pending for these holes.
Additional work in progress includes geological mapping at a scale of 1:2,500 and geophysical (magnetics and induced polarization (IP)) surveys. The magnetic survey has been completed while the IP survey is approximately 60% complete and is expected to be finished in early November. The geophysical work is being directed by Dr. Chris Hale, P.Geo., consulting geophysicist and a Qualified Person as defined under NI 43-101.
Analytical work was carried out by SGS Minerals in Belo Horizonte, Brazil, an ISO 9001-2000 certified laboratory. Largo employs a systematic industry standard QA/QC program including standards, duplicates and blanks. Andy Campbell, P. Geo., Largo's Vice President of Exploration, is the Qualified Person responsible for the scientific and technical work for the program as defined under National Instrument 43-101 and has reviewed this press release.
About Largo
Largo Resources is a Canadian natural resource development and exploration company with two advanced stage projects: the Northern Dancer Tungsten-Molybdenum deposit in the Yukon and the Maracas Vanadium-PGM deposit in Brazil. Largo also has a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador. The company is listed on the TSX Venture Exchange under the symbol LGO.
For more information please refer to Largo's website: www.largoresources.com. ----------------------
Kurze Frage in die Expertenrunde:
Das sind doch klasse Ergebnisse. Finde die Längen und Gehalte sehr gut. Auch der Vergleich zu den vorhergehenden News dieses Projektes zeigt dies eindrucksvoll. Meinungen? Thx....
Drilling Confirms Extensive Vanadium-PGM Deposit at Largo's Maracas Project (Brazil)
10/17/2007
- 41 of 42 holes intersect significant Vanadium-PGM mineralization
TORONTO, ONTARIO, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Largo Resources Ltd. (TSX VENTURE: LGO) is pleased to provide a further update on its exploration program in progress on the Company's 2,000 hectare Maracas Vanadium-PGM property located 250 kilometres west of Salvador, Bahia, Brazil.
To date, 45 diamond drill holes totalling 11,196 metres have been completed on the Gulcari "A" deposit in order to expand and upgrade the Vanadium-PGM mineralization and the previously announced inferred mineral resource of 15.0 million tonnes grading 1.37% Vanadium Pentoxide (V2O5) (see press release November 22, 2006). Results were previously released for 16 holes (see press releases May 22, 2007, June 19, 2007 and July 18 2007). Three holes were drilled for geotechnical and metallurgical purposes (FGA81, FGA84 and FGA85). Significant results for the remaining 26 holes are summarized in Table 1.
Highlights from the new results include:
- FGA73 - 40.0 metres true width at 1.62% V2O5 and 0.34 g PGM/t (0.24 g Pt/t and 0.10 g Pd/t) and 17.5 metres true width at 2.81% V2O5 and 0.59 g PGM/t (0.54 g Pt/t and 0.05 g Pd/t)
- FGA74 - 39.0 metres true width grading 1.86% V2O5 and 0.27 g PGM/t (0.24 g Pt/t and 0.03 g Pd/t) including 25.0 metres true width grading 2.15% V2O5, and 0.25 g PGM/t (0.21 g Pt/t and 0.04 g Pd/t)
- FGA77 - 17.9 metres true width grading 2.37% V2O5, and 0.25 g PGM/t (0.22 g Pt/t and 0.03 g Pd/t))
- FGA79 - 70.0 metres true width grading 1.60% V2O5, and 0.32 g PGM/t (0.26 g Pt/t and 0.06 g Pd/t)) including 38.0 metres true width grading 2.32% V2O5, and 0.43 g PGM/t (0.35 g Pt/t and 0.08 g Pd/t)
- FGA87 - 22.0 metres true width grading 1.82% V2O5, and 0.41 g PGM/t (0.19 g Pt/t and 0.22 g Pd/t))
- FGA89 - 59.0 metres true width grading 2.11% V2O5, and 0.26 g PGM/t (0.19 g Pt/t and 0.07 g Pd/t)) including 36.0 metres true width grading 2.40% V2O5 and 0.27 g PGM/t (0.20 g Pt/t and 0.07 g Pd/t)
- FGA95 - 65.0 metres true width grading 1.46% V2O5, and 0.21 g PGM/t (0.11 g Pt/t and 0.10 g Pd/t))
- FGA97 - 50.3 metres true width grading 1.83% V2O5, and 0.47 g PGM/t (0.28 g Pt/t and 0.19 g Pd/t)) including 29.3 metres true width grading 2.26% V2O5, and 0.50 g PGM/t (0.34 g Pt/t and 0.16 g Pd/t)
Andy Campbell, P.Geo., Vice President Exploration commented: "Of the 42 holes drilled to expand and upgrade the resource, only one hole did not intersect the magnetite-rich layer confirming the excellent continuity of the Gulcari "A" deposit. Twenty of the 42 holes returned intersections that significantly exceeded the average grade (1.35% V2O5) and average true width (25m) of the original deposit. The deposit, which now extends 400m along strike and to a depth of 300m, is still open along strike as well as at depth."
Largo President & CEO Mark Brennan commented: "We are delighted with the results of the drilling program which have exceeded expectations. The updated resource estimate, which is in progress, will form the basis for an expanded scoping study including PGMs. Engineering work on the metallurgy is also well advanced."
PGM Exploration
The Gulcari "A" deposit is part of a mineralizing system that extends for 8 kilometres across the property. Results from drilling of the deposit indicate that the PGM mineralization is related to the disseminated sulphides in the massive magnetite zone. The PGM mineralization is significant and consistent throughout the massive magnetite lens with a very high Pt:Pd ratio averaging about 4:1, which is a comparable ratio to the Great Dyke. Of particular interest is Hole FGA-80 which intersected 3.93 g Pt/t and 0.21 g Pd/t (4.14 g PGM/t) over 1.0m in a section with 3-7% sulphides but very low magnetite. This suggests in addition to the magnetite lens, there is excellent potential for outlining higher grade PGM mineralization that may not be directly associated with magnetite.
With drilling on the main deposit complete, exploration has now shifted focus to test other areas along the system including, from north to south, Nova Amparo, Sao Jose and Gulcari "B". Eleven (11) shallow drill holes totalling 1,952 metres have now been completed at Nova Amparo located 4 km to the north of Gulcari "A" to test for PGMs associated with a magnetite lens. The initial indications from this drilling are that there are more sulphides associated with the magnetite at Nova Amparo compared to Gulcari "A". Assay results are pending for these holes.
Additional work in progress includes geological mapping at a scale of 1:2,500 and geophysical (magnetics and induced polarization (IP)) surveys. The magnetic survey has been completed while the IP survey is approximately 60% complete and is expected to be finished in early November. The geophysical work is being directed by Dr. Chris Hale, P.Geo., consulting geophysicist and a Qualified Person as defined under NI 43-101.
Analytical work was carried out by SGS Minerals in Belo Horizonte, Brazil, an ISO 9001-2000 certified laboratory. Largo employs a systematic industry standard QA/QC program including standards, duplicates and blanks. Andy Campbell, P. Geo., Largo's Vice President of Exploration, is the Qualified Person responsible for the scientific and technical work for the program as defined under National Instrument 43-101 and has reviewed this press release.
About Largo
Largo Resources is a Canadian natural resource development and exploration company with two advanced stage projects: the Northern Dancer Tungsten-Molybdenum deposit in the Yukon and the Maracas Vanadium-PGM deposit in Brazil. Largo also has a large (60,000 hectare) land position and prospective gold exploration properties in Ecuador. The company is listed on the TSX Venture Exchange under the symbol LGO.
For more information please refer to Largo's website: www.largoresources.com. ----------------------
Kurze Frage in die Expertenrunde:
Das sind doch klasse Ergebnisse. Finde die Längen und Gehalte sehr gut. Auch der Vergleich zu den vorhergehenden News dieses Projektes zeigt dies eindrucksvoll. Meinungen? Thx....
PELANGIO MINES INC
Pelangio Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario
10/17/2007
West Pit: 3.86 g/t / 53.4 m
TORONTO, ONTARIO, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Pelangio Mines Inc. (TSX: PLG) ("Pelangio" or the "Company") has been advised by Detour Gold Corporation (TSX: DGC) that it has released drill results from an additional 25 holes from the now completed Phase I drilling program at its Detour Lake property in northern Ontario. In Phase I, Detour Gold completed 134 holes totaling 49,322 metres and has now released the assay results for 101 holes (75%). Drilling resumed on July 9 for a Phase II drilling program consisting of an additional 50,000 metres. As of yesterday, 128 holes totaling 42,279 metres have been completed in Phase II, for a combined total of 262 holes (91,601 metres) thus far in 2007.
Pelangio has a 49.6% equity interest in Detour Gold (20 million shares). Detour Gold issued a press release today, the verbatim text of which follows:
"Detour Gold Successfully Continues to Extend Gold Mineralization at its Detour Lake Property in Northern Ontario, Canada (West Pit: 3.86 g/t / 53.4 m Gap Zone: 4.20 g/t / 31.3 m & 4.66 g/t / 28.0 m)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of an additional 25 holes from its completed Phase I drilling program at its Detour Lake property in northern Ontario.
The objective of the 2007 drilling campaign of 100,000 metres (Phase I and II) is to better define and expand the 2006 mineral resource, using a 40 metre by 40 metre drill spacing. In Phase I, the Company completed 134 holes totaling 49,322 metres and has now released the assays for 101 holes (75%) with excellent and consistent results. The Phase II drilling campaign of 50,000 metres, which started on July 9, is 86% complete with five drill rigs running. As of yesterday, 128 holes totaling 42,279 metres have been completed in Phase II, for a combined total of 262 holes (91,601 metres) thus far in 2007.
With 75% of Phase I drill results now released, Detour Gold is confident in significantly expanding the September 2006 near-surface resource of 1.4 million ounces in the indicated category (20.0 million tonnes grading 2.14 g/t) and 2.0 million ounces of gold in the inferred category (35.4 million tonnes grading 1.80 g/t), using a US$450 per ounce gold price and a cut-off grade of 0.85 g/t gold.
Mr. Gerald Panneton, President and CEO, commented: "To date, the assay results have successfully confirmed the continuity of the gold mineralization along the known 2.5 kilometres east-west 200 metre wide corridor, extending from the West Pit to the Calcite Zone resource blocks. With strong results announced from the Gap Zone (area between the two proposed pits - West Pit and Calcite Zone), it is clear that this new mineralization will be incremental to the current resource base. In addition, drilling in the West Pit has converted waste to ore and found new structures, which will also increase the resource. The Company remains on track for an updated mineral resource, in compliance with NI 43-101, at the end of 2007."
From the results announced today, 17 holes (DG-07-48, 56, 57, 70, 71, 76, 78, 79, 81, 83, 85, 86A, 87, 88, 89, 90, and 91) were drilled in the Gap Zone (between the two US$450 open pits), and eight holes (DG-07-25, 25B, 27, 99, 102, 105, 107, and 109) were drilled within the West Pit within an area of limited or no previous drilling. The best mineralized (uncut) intervals encountered are shown below.
Gap Zone:
---------------------------------------------------------------------------
DG-07-57 DG-07-71 DG-07-76 DG-07-79
-------- -------- -------- --------
2.80 g/t over 3.87 g/t over 1.01 g/t over 37.8 m 1.78 g/t over 45.0 m
15.0 m 11.0 m 4.20 g/t over 31.3 m 3.03 g/t over 15.0 m
1.53 g/t over 23.3 m
DG-07-81 DG-07-85 DG-07-86A DG-07-90
-------- -------- --------- --------
5.12 g/t over 4.66 g/t over 2.53 g/t over 27.5 m 1.78 g/t over 31.5 m
7.0 m 28.0 m
DG-07-91
--------
2.15 g/t over
32.3 m
15.28 g/t over
5.0 m
West Pit:
---------------------------------------------------------------------------
DG-07-25B DG-07-27 DG-07-99 DG-07-105
--------- -------- -------- ---------
3.86 g/t over 7.54 g/t over 2.84 g/t over 28.3 m 1.52 g/t over 37.4 m
53.4 m 19.0 m
The mineralized corridor, tested over a strike length of 1.6 kilometres in Phase I, remains open west of the Calcite Zone and east of the West Pit along the Sunday Lake Deformation Zone (SLDZ). Gold mineralization within the corridor typically consists of multiple, subvertical, five to 25 metre wide zones grading between 1.0 to 3.0 g/t gold. High gold values are generally characterized by clusters of visible gold in quartz veins and pillow selvages within potassically altered mafic flows that contain a higher percentage of sulphide minerals.
From the results received to date, the Company has found additional gold mineralization in the Gap Zone (between the two US$450 open pits) and has successfully extended the Calcite Zone. Both areas had very limited drilling in the past. The results from the Gap Zone especially show the continuity of the mineralization between the West Pit and Calcite Zone.
The Company has awarded several contracts for the start of its feasibility study on the Detour Lake project (refer to press release dated October 11, 2007). Details on the current mineral resource are available in the Detour Lake Project December 2006 Technical Report posted on the Company's website or on SEDAR (www.sedar.com).
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.hdgold.com/dgc/LatestDrillResults.asp or on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The Qualified Person for the resource estimate filed in December 2006 is Mr. Eric Kallio, P.Geo.
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold ( greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
For further information, please contact: Gerald Panneton, Laurie Gaborit, President and CEO Director Investor Relations Tel: (416) 304.0800 Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1
Forward-Looking Information
Certain statements herein may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information appears in a number of places and can be identified by the use of words such as "intends" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information includes statements regarding the Company's exploration plans with respect to the Detour Lake property and the estimation of mineral resources and are subject to such forward-looking risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in interpreting geological data, increase in costs and exchange rate fluctuations and other risks involved in the gold exploration and development industry as well as those risk factors discussed under "Risk Factors" in the Company's final prospectus dated January 22, 2007 available at www.sedar.com. There can be no assurance that forward-looking information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Detour Gold. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified by this cautionary statement. The Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Detour Lake Project - Highlights of Drill Results
-------------------------------------------------------------------------
Hole No. Section From To Length Au Au Host Rock
No. (m) (m) (m) Uncut Cut to Unit
(g/t) 20 g/t
(g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Abandoned
DG-07-25 19,760E 23.0 28.0 5.0 0.87 0.87 at 33.0 m
-------------------------------------------------------------------------
DG-07-25B 19,760E 60.0 70.0 10.0 1.75 1.75
(West Pit) -------------------------------------------------------
102.0 109.0 7.0 1.58 1.58
-------------------------------------------------------
170.0 176.0 6.0 1.49 1.49
-------------------------------------------------------
195.0 205.0 10.0 0.82 0.82
-------------------------------------------------------
Lower
Mafic
222.0 275.4 53.4 3.86 1.76 Flow
-------------------------------------------------------
Inc. 240.5 241.0 0.5 215.38 20.00
-------------------------------------------------------
Inc. 245.0 245.5 0.5 48.79 20.00
-------------------------------------------------------------------------
DG-07-27 19,360E 17.0 37.0 20.0 0.99 0.99
(West Pit) -------------------------------------------------------
MF/PF
112.0 131.0 19.0 7.54 2.05 contact
-------------------------------------------------------
Inc. 113.9 114.4 0.5 139.45 20.00
-------------------------------------------------------
Inc. 128.0 128.5 0.5 109.16 20.00
-------------------------------------------------------
Upper
Mafic
162.0 172.0 10.0 2.78 2.50 Flow
-------------------------------------------------------
Inc. 170.9 171.4 0.5 25.73 20.00
-------------------------------------------------------
208.0 221.0 13.0 1.51 1.51
-------------------------------------------------------
274.0 283.0 9.0 0.89 0.89
-------------------------------------------------------
302.0 307.0 5.0 1.45 1.45
-------------------------------------------------------------------------
Upper
Pillow
DG-07-48 19,080E 71.5 90.0 18.5 1.53 1.53 Flow
(Gap Zone) -------------------------------------------------------
125.0 132.0 7.0 0.84 0.84
-------------------------------------------------------
172.0 177.0 5.0 1.58 1.58
-------------------------------------------------------
197.0 214.0 17.0 1.12 1.12
-------------------------------------------------------
240.0 245.0 5.0 1.80 1.80
-------------------------------------------------------
Lower
Pillow
285.0 290.0 5.0 6.47 6.14 Flow
-------------------------------------------------------
Inc. 287.0 287.5 0.5 23.27 20.00
-------------------------------------------------------
Upper
Mafic
335.0 362.0 27.0 1.17 1.17 Flow
-------------------------------------------------------
392.0 397.0 5.0 1.26 1.26
-------------------------------------------------------------------------
DG-07-56 18,660E 59.0 66.0 7.0 1.86 1.86
(Gap Zone) -------------------------------------------------------
76.0 84.0 8.0 1.04 1.04
-------------------------------------------------------
131.0 136.0 5.0 4.20 4.20
-------------------------------------------------------
157.0 165.0 8.0 1.00 1.00
-------------------------------------------------------
176.5 182.0 5.5 2.59 2.45
-------------------------------------------------------
Inc. 176.5 177.0 0.5 21.48 20.00
-------------------------------------------------------
221.0 241.0 20.0 0.78 0.78
-------------------------------------------------------
257.0 262.0 5.0 1.00 1.00
-------------------------------------------------------
287.5 300.0 12.5 1.25 1.25
-------------------------------------------------------
325.0 344.0 19.0 1.26 1.26
-------------------------------------------------------
359.0 385.0 26.0 0.94 0.94
-------------------------------------------------------------------------
DG-07-57 19,040E 41.0 46.0 5.0 0.97 0.97
(Gap Zone) -------------------------------------------------------
85.2 91.0 5.8 1.04 1.04
-------------------------------------------------------
107.0 115.0 8.0 0.74 0.74
-------------------------------------------------------
Lower
Mafic
140.0 155.0 15.0 2.80 2.35 Flow
-------------------------------------------------------
Inc. 154.0 155.0 1.0 26.79 20.00
-------------------------------------------------------
190.0 197.0 7.0 0.95 0.95
-------------------------------------------------------------------------
DG-07-70 18,840E 29.0 37.0 8.0 1.99 1.99
(Gap Zone) -------------------------------------------------------
55.0 60.0 5.0 1.33 1.33
-------------------------------------------------------
88.8 96.0 7.20 1.63 1.63
-------------------------------------------------------
Mafic
129.3 141.0 11.7 7.12 2.56 Flow
-------------------------------------------------------
Inc. 135.5 136.0 0.5 93.43 20.00
-------------------------------------------------------
Inc. 136.0 136.5 0.5 53.21 20.00
-------------------------------------------------------
160.0 165.0 5.0 1.40 1.40
-------------------------------------------------------
196.0 207.0 11.0 1.03 1.03
-------------------------------------------------------
219.0 224.0 5.0 4.22 4.22
-------------------------------------------------------------------------
DG-07-71 19,040E 73.0 82.0 9.0 1.86 1.86
(Gap Zone) -------------------------------------------------------
Lower
Pillow
434.0 445.0 11.0 3.87 3.83 Flow
-------------------------------------------------------
Inc. 436.0 437.0 1.0 20.45 20.00
-------------------------------------------------------
465.0 471.0 6.0 0.92 0.92
-------------------------------------------------------
484.0 490.5 6.5 2.14 1.98
-------------------------------------------------------
Inc. 490.0 490.5 0.5 22.06 20.00
-------------------------------------------------------------------------
505.0 522.0 17.00 1.06 1.06
-------------------------------------------------------------------------
Pillow
DG-07-76 18,660E 65.0 102.8 37.8 1.01 1.01 Flow
(Gap Zone) -------------------------------------------------------
118.0 126.0 8.0 2.08 2.08
-------------------------------------------------------
Upper
Mafic
150.0 181.30 31.3 4.20 1.18 Flow
-------------------------------------------------------
Inc. 152.5 153.0 0.5 209.28 20.00
-------------------------------------------------------
206.0 214.0 8.0 1.05 1.05
-------------------------------------------------------
240.7 249.0 8.3 1.10 1.10
-------------------------------------------------------
PF (next
266.0 289.3 23.3 1.53 1.53 to CMH)
-------------------------------------------------------------------------
DG-07-78 18,840E 72.0 83.0 11.0 1.76 1.76
(Gap Zone) -------------------------------------------------------
154.0 165.0 11.0 1.83 1.83
-------------------------------------------------------
191.0 196.0 5.0 2.33 2.33
-------------------------------------------------------
220.0 227.0 7.0 1.26 1.26
-------------------------------------------------------
267.0 272.2 5.2 2.93 2.93
-------------------------------------------------------------------------
DG-07-79 18,880E 16.0 21.0 5.0 1.14 1.14
(Gap Zone) -------------------------------------------------------
91.0 110.5 19.5 1.11 1.11
-------------------------------------------------------
120.0 131.2 11.2 0.80 0.80
-------------------------------------------------------
138.0 142.0 4.0 3.46 3.46
-------------------------------------------------------
255.0 260.7 5.7 0.79 0.79
-------------------------------------------------------
Upper
Pillow
277.0 322.0 45.0 1.78 1.78 Flow
-------------------------------------------------------
Pillow
362.0 377.0 15.0 3.03 1.72 Flow
-------------------------------------------------------
Inc. 376.0 377.0 1.0 39.62 20.00
-------------------------------------------------------
410.0 418.3 8.3 0.88 0.88
-------------------------------------------------------
449.9 487.0 37.1 0.97 0.93
-------------------------------------------------------
Inc. 462.0 462.5 0.5 22.93 20.00
-------------------------------------------------------------------------
Upper
Pillow
DG-07-81 18,700E 74.0 94.0 20.0 1.66 1.66 Flow
(Gap Zone) -------------------------------------------------------
194.0 199.0 5.0 1.21 1.21
-------------------------------------------------------
251.0 258.0 7.0 1.24 1.24
-------------------------------------------------------
316.0 321.0 5.0 1.02 1.02
-------------------------------------------------------
349.0 354.0 5.0 3.18 2.02
-------------------------------------------------------
Inc. 349.0 349.5 0.5 31.59 20.00
-------------------------------------------------------
417.0 424.0 7.0 5.12 5.12 CMH
-------------------------------------------------------------------------
DG-07-83 18,880E 122.0 131.3 9.3 1.46 1.46
(Gap Zone) -------------------------------------------------------
177.0 184.0 7.0 0.87 0.87
-------------------------------------------------------
202.0 207.0 5.0 0.93 0.93
-------------------------------------------------------
229.0 234.0 5.0 1.89 1.89
-------------------------------------------------------
Pillow
277.0 291.0 14.0 1.82 1.82 Flow
-------------------------------------------------------
375.0 382.0 7.0 2.71 2.71
-------------------------------------------------------------------------
DG-07-85 18,920E 44.0 53.0 9.0 1.66 1.66
(Gap Zone) -------------------------------------------------------
59.0 67.0 8.0 0.86 0.86
-------------------------------------------------------
86.0 92.0 6.0 1.88 1.88
-------------------------------------------------------
122.0 129.0 7.0 0.73 0.73
-------------------------------------------------------
202.0 207.0 5.0 1.15 1.15
-------------------------------------------------------
Lower
Mafic
241.0 269.0 28.0 4.66 2.15 Flow
-------------------------------------------------------
Inc. 263.0 264.0 1.0 90.21 20.00
-------------------------------------------------------
293.7 301.0 7.3 0.83 0.83
-------------------------------------------------------------------------
DG-07-86A 18,800E 28.0 43.0 15.0 1.14 1.14
(Gap Zone) -------------------------------------------------------
98.0 113.5 15.5 0.85 0.85
-------------------------------------------------------
190.0 195.0 5.0 1.18 1.18
-------------------------------------------------------
207.0 213.0 6.0 1.57 1.57
-------------------------------------------------------
240.0 245.0 5.0 1.81 1.81
-------------------------------------------------------
255.0 278.5 23.5 0.90 0.90
-------------------------------------------------------
Lower
Mafic
293.5 321.0 27.5 2.53 2.35 Flow
-------------------------------------------------------
Inc. 293.5 294.0 0.5 24.97 20.00
-------------------------------------------------------
Inc. 317.0 317.8 0.8 21.94 20.00
-------------------------------------------------------
334.0 355.0 21.0 0.89 0.89
-------------------------------------------------------------------------
DG-07-87 18,960E 35.0 52.0 17.0 0.93 0.93
(Gap Zone) -------------------------------------------------------
80.0 85.0 5.0 0.88 0.88
-------------------------------------------------------
Lower
Pillow
93.0 109.0 16.0 1.96 1.85 Flow
-------------------------------------------------------
Inc. 105.0 106.0 1.0 21.79 20.00
-------------------------------------------------------
138.0 146.0 8.0 0.95 0.95
-------------------------------------------------------
180.0 185.0 5.0 1.42 1.42
-------------------------------------------------------
263.0 270.0 7.0 2.59 2.59
-------------------------------------------------------
CMH/PF
300.0 325.0 25.0 1.05 1.05 contact
-------------------------------------------------------------------------
DG-07-88 18,750E 222.7 230.6 7.9 1.73 1.73
(Gap Zone) -------------------------------------------------------
252.0 257.2 5.2 1.31 1.31
-------------------------------------------------------
295.0 301.0 6.0 3.91 3.62
-------------------------------------------------------
Inc. 296.0 297.0 1.0 21.70 20.00
-------------------------------------------------------------------------
DG-07-89 18,900E 50.0 59.0 9.0 0.93 0.93
(Gap Zone) -------------------------------------------------------
134.0 152.0 18.0 1.17 1.17
-------------------------------------------------------
180.0 185.0 5.0 1.07 1.07
-------------------------------------------------------
198.0 208.0 10.0 1.16 1.16
-------------------------------------------------------
220.0 225.0 5.0 1.36 1.36
-------------------------------------------------------
234.0 239.0 5.0 0.94 0.94
-------------------------------------------------------
279.5 287.0 7.5 0.86 0.86
-------------------------------------------------------
306.0 312.0 6.0 1.24 1.24
-------------------------------------------------------
335.0 340.0 5.0 0.97 0.97
-------------------------------------------------------
372.0 377.0 5.0 1.12 1.12
-------------------------------------------------------
435.0 440.0 5.0 1.10 1.10
-------------------------------------------------------
494.5 501.0 6.5 0.93 0.93
-------------------------------------------------------
531.0 536.4 5.4 7.32 5.29 CMH
-------------------------------------------------------
Inc. 532.0 533.0 1.0 30.95 20.00
-------------------------------------------------------------------------
DG-07-90 18,920E 71.0 76.0 5.0 1.06 1.06
(Gap Zone) -------------------------------------------------------
160.0 165.0 5.0 2.24 2.24
-------------------------------------------------------
207.0 218.0 11.0 1.99 1.99
-------------------------------------------------------
Upper
Mafic
277.0 308.5 31.5 1.78 1.70 Flow
-------------------------------------------------------
Inc. 279.5 280.0 0.5 22.48 20.00
-------------------------------------------------------
Inc. 296.1 296.6 0.5 22.65 20.00
-------------------------------------------------------------------------
DG-07-91 18,840E 22.0 27.0 5.0 1.05 1.05
(Gap Zone) -------------------------------------------------------
87.0 95.0 8.0 0.92 0.92
-------------------------------------------------------
125.0 130.0 5.0 0.92 0.92
-------------------------------------------------------
147.0 153.0 6.0 0.84 0.84
-------------------------------------------------------
182.0 192.0 10.0 1.21 1.21
-------------------------------------------------------
Lower
Pillow
200.0 232.0 32.0 1.01 1.01 Flow
-------------------------------------------------------
Upper
Mafic
300.7 333.0 32.3 2.15 1.66 Flow
-------------------------------------------------------
Inc. 311.8 312.5 0.7 42.77 20.00
-------------------------------------------------------
Upper
Mafic
348.0 353.0 5.0 15.28 2.49 Flow
-------------------------------------------------------
Inc. 350.6 351.2 0.6 126.60 20.00
-------------------------------------------------------
410.0 416.0 6.0 1.92 1.92
-------------------------------------------------------------------------
DG-07-99 19,720E 177.0 182.0 5.0 1.63 1.63
(West Pit) -------------------------------------------------------
196.0 201.0 5.0 2.14 2.14
-------------------------------------------------------
Lower
Mafic
212.6 240.9 28.3 2.84 1.09 Flow
-------------------------------------------------------
Inc. 212.6 213.1 0.5 63.17 20.00
-------------------------------------------------------------------------
Inc. 228.5 229.0 0.5 75.51 20.00
-------------------------------------------------------------------------
DG-07-102 19,360E 55.0 73.0 18.0 1.00 1.00
(West Pit) -------------------------------------------------------
98.0 104.0 6.0 1.13 1.13
-------------------------------------------------------
152.0 157.0 5.0 7.09 2.55 MF & PF
-------------------------------------------------------
Inc. 153.0 153.6 0.6 57.79 20.00
-------------------------------------------------------
261.0 280.0 19.0 0.90 0.90
-------------------------------------------------------
381.0 387.5 6.5 2.21 2.21
-------------------------------------------------------
407.0 427.0 20.0 1.23 1.23
-------------------------------------------------------------------------
Lower
Mafic
DG-07-105 19,360E 88.6 126.0 37.4 1.52 1.48 Flow
(West Pit) -------------------------------------------------------
Inc. 91.0 92.0 1.0 21.62 20.00
-------------------------------------------------------
212.0 219.0 7.0 0.67 0.67
-------------------------------------------------------------------------
DG-07-107 19,560E 57.0 72.0 15.0 0.96 0.96
(West Pit) -------------------------------------------------------
85.0 90.0 5.0 1.10 1.10
-------------------------------------------------------------------------
DG-07-109 19,480E 104.0 115.6 11.6 1.31 1.31
(West Pit) -------------------------------------------------------
-------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the
table. True width is estimated to be 65 to 75% of the drilled length.
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company's main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine.
Pelangio also has a 49.6% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.
Contacts: Pelangio Mines Inc. Ingrid Hibbard President & CEO (905) 875-3828 or Toll Free: 1-877-746-1632 Pelangio Mines Inc. Warren Bates Vice President Exploration (905) 875-3828 or Toll Free: 1-877-746-1632 (905) 875-3829 (FAX) Email: info@pelangio.com Website: www.pelangio.com
SOURCE: Pelangio Mines Inc.
mailto:info@pelangio.com http://www.pelangio.com
Copyright 2007 Market Wire, All rights reserved.
Pelangio Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario
10/17/2007
West Pit: 3.86 g/t / 53.4 m
TORONTO, ONTARIO, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Pelangio Mines Inc. (TSX: PLG) ("Pelangio" or the "Company") has been advised by Detour Gold Corporation (TSX: DGC) that it has released drill results from an additional 25 holes from the now completed Phase I drilling program at its Detour Lake property in northern Ontario. In Phase I, Detour Gold completed 134 holes totaling 49,322 metres and has now released the assay results for 101 holes (75%). Drilling resumed on July 9 for a Phase II drilling program consisting of an additional 50,000 metres. As of yesterday, 128 holes totaling 42,279 metres have been completed in Phase II, for a combined total of 262 holes (91,601 metres) thus far in 2007.
Pelangio has a 49.6% equity interest in Detour Gold (20 million shares). Detour Gold issued a press release today, the verbatim text of which follows:
"Detour Gold Successfully Continues to Extend Gold Mineralization at its Detour Lake Property in Northern Ontario, Canada (West Pit: 3.86 g/t / 53.4 m Gap Zone: 4.20 g/t / 31.3 m & 4.66 g/t / 28.0 m)
Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the "Company") is pleased to report the drill results of an additional 25 holes from its completed Phase I drilling program at its Detour Lake property in northern Ontario.
The objective of the 2007 drilling campaign of 100,000 metres (Phase I and II) is to better define and expand the 2006 mineral resource, using a 40 metre by 40 metre drill spacing. In Phase I, the Company completed 134 holes totaling 49,322 metres and has now released the assays for 101 holes (75%) with excellent and consistent results. The Phase II drilling campaign of 50,000 metres, which started on July 9, is 86% complete with five drill rigs running. As of yesterday, 128 holes totaling 42,279 metres have been completed in Phase II, for a combined total of 262 holes (91,601 metres) thus far in 2007.
With 75% of Phase I drill results now released, Detour Gold is confident in significantly expanding the September 2006 near-surface resource of 1.4 million ounces in the indicated category (20.0 million tonnes grading 2.14 g/t) and 2.0 million ounces of gold in the inferred category (35.4 million tonnes grading 1.80 g/t), using a US$450 per ounce gold price and a cut-off grade of 0.85 g/t gold.
Mr. Gerald Panneton, President and CEO, commented: "To date, the assay results have successfully confirmed the continuity of the gold mineralization along the known 2.5 kilometres east-west 200 metre wide corridor, extending from the West Pit to the Calcite Zone resource blocks. With strong results announced from the Gap Zone (area between the two proposed pits - West Pit and Calcite Zone), it is clear that this new mineralization will be incremental to the current resource base. In addition, drilling in the West Pit has converted waste to ore and found new structures, which will also increase the resource. The Company remains on track for an updated mineral resource, in compliance with NI 43-101, at the end of 2007."
From the results announced today, 17 holes (DG-07-48, 56, 57, 70, 71, 76, 78, 79, 81, 83, 85, 86A, 87, 88, 89, 90, and 91) were drilled in the Gap Zone (between the two US$450 open pits), and eight holes (DG-07-25, 25B, 27, 99, 102, 105, 107, and 109) were drilled within the West Pit within an area of limited or no previous drilling. The best mineralized (uncut) intervals encountered are shown below.
Gap Zone:
---------------------------------------------------------------------------
DG-07-57 DG-07-71 DG-07-76 DG-07-79
-------- -------- -------- --------
2.80 g/t over 3.87 g/t over 1.01 g/t over 37.8 m 1.78 g/t over 45.0 m
15.0 m 11.0 m 4.20 g/t over 31.3 m 3.03 g/t over 15.0 m
1.53 g/t over 23.3 m
DG-07-81 DG-07-85 DG-07-86A DG-07-90
-------- -------- --------- --------
5.12 g/t over 4.66 g/t over 2.53 g/t over 27.5 m 1.78 g/t over 31.5 m
7.0 m 28.0 m
DG-07-91
--------
2.15 g/t over
32.3 m
15.28 g/t over
5.0 m
West Pit:
---------------------------------------------------------------------------
DG-07-25B DG-07-27 DG-07-99 DG-07-105
--------- -------- -------- ---------
3.86 g/t over 7.54 g/t over 2.84 g/t over 28.3 m 1.52 g/t over 37.4 m
53.4 m 19.0 m
The mineralized corridor, tested over a strike length of 1.6 kilometres in Phase I, remains open west of the Calcite Zone and east of the West Pit along the Sunday Lake Deformation Zone (SLDZ). Gold mineralization within the corridor typically consists of multiple, subvertical, five to 25 metre wide zones grading between 1.0 to 3.0 g/t gold. High gold values are generally characterized by clusters of visible gold in quartz veins and pillow selvages within potassically altered mafic flows that contain a higher percentage of sulphide minerals.
From the results received to date, the Company has found additional gold mineralization in the Gap Zone (between the two US$450 open pits) and has successfully extended the Calcite Zone. Both areas had very limited drilling in the past. The results from the Gap Zone especially show the continuity of the mineralization between the West Pit and Calcite Zone.
The Company has awarded several contracts for the start of its feasibility study on the Detour Lake project (refer to press release dated October 11, 2007). Details on the current mineral resource are available in the Detour Lake Project December 2006 Technical Report posted on the Company's website or on SEDAR (www.sedar.com).
Complete tables of results, surface and longitudinal plans and cross-sections for the Detour Lake deposit are posted on the Company's website www.detourgold.com /Projects/Detour Lake or http://www.hdgold.com/dgc/LatestDrillResults.asp or on the home page "Explore Detour Lake".
Detour Gold's exploration program is being managed by Project Manager, Mr. Roger Aubertin, P.Eng., a Qualified Person within the meaning of National Instrument 43-101. Mr. Aubertin has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information. The Qualified Person for the resource estimate filed in December 2006 is Mr. Eric Kallio, P.Geo.
Samples are prepared and assayed at SGS Minerals Services in Don Mills, Ontario, Canada. Analysis for gold is done on sawn half core samples using fire assay (AA finish). Samples with higher grade gold ( greater than 5 g/t) are re-assayed using the pulp and metallics procedures. Standard reference materials, blank and field duplicate samples are inserted prior to shipment from site to monitor the quality control of the assay data. For additional information on Quality Assurance and Quality Control, refer to the press release dated April 11, 2007.
For further information, please contact: Gerald Panneton, Laurie Gaborit, President and CEO Director Investor Relations Tel: (416) 304.0800 Tel: (416) 304.0581
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2040, Toronto, Ontario M5J 2J1
Forward-Looking Information
Certain statements herein may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information appears in a number of places and can be identified by the use of words such as "intends" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information includes statements regarding the Company's exploration plans with respect to the Detour Lake property and the estimation of mineral resources and are subject to such forward-looking risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in interpreting geological data, increase in costs and exchange rate fluctuations and other risks involved in the gold exploration and development industry as well as those risk factors discussed under "Risk Factors" in the Company's final prospectus dated January 22, 2007 available at www.sedar.com. There can be no assurance that forward-looking information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Detour Gold. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified by this cautionary statement. The Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Information Concerning Estimates of Mineral Resources
This news release uses the terms 'indicated' and 'inferred' resources. Detour Gold advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Detour Lake Project - Highlights of Drill Results
-------------------------------------------------------------------------
Hole No. Section From To Length Au Au Host Rock
No. (m) (m) (m) Uncut Cut to Unit
(g/t) 20 g/t
(g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Abandoned
DG-07-25 19,760E 23.0 28.0 5.0 0.87 0.87 at 33.0 m
-------------------------------------------------------------------------
DG-07-25B 19,760E 60.0 70.0 10.0 1.75 1.75
(West Pit) -------------------------------------------------------
102.0 109.0 7.0 1.58 1.58
-------------------------------------------------------
170.0 176.0 6.0 1.49 1.49
-------------------------------------------------------
195.0 205.0 10.0 0.82 0.82
-------------------------------------------------------
Lower
Mafic
222.0 275.4 53.4 3.86 1.76 Flow
-------------------------------------------------------
Inc. 240.5 241.0 0.5 215.38 20.00
-------------------------------------------------------
Inc. 245.0 245.5 0.5 48.79 20.00
-------------------------------------------------------------------------
DG-07-27 19,360E 17.0 37.0 20.0 0.99 0.99
(West Pit) -------------------------------------------------------
MF/PF
112.0 131.0 19.0 7.54 2.05 contact
-------------------------------------------------------
Inc. 113.9 114.4 0.5 139.45 20.00
-------------------------------------------------------
Inc. 128.0 128.5 0.5 109.16 20.00
-------------------------------------------------------
Upper
Mafic
162.0 172.0 10.0 2.78 2.50 Flow
-------------------------------------------------------
Inc. 170.9 171.4 0.5 25.73 20.00
-------------------------------------------------------
208.0 221.0 13.0 1.51 1.51
-------------------------------------------------------
274.0 283.0 9.0 0.89 0.89
-------------------------------------------------------
302.0 307.0 5.0 1.45 1.45
-------------------------------------------------------------------------
Upper
Pillow
DG-07-48 19,080E 71.5 90.0 18.5 1.53 1.53 Flow
(Gap Zone) -------------------------------------------------------
125.0 132.0 7.0 0.84 0.84
-------------------------------------------------------
172.0 177.0 5.0 1.58 1.58
-------------------------------------------------------
197.0 214.0 17.0 1.12 1.12
-------------------------------------------------------
240.0 245.0 5.0 1.80 1.80
-------------------------------------------------------
Lower
Pillow
285.0 290.0 5.0 6.47 6.14 Flow
-------------------------------------------------------
Inc. 287.0 287.5 0.5 23.27 20.00
-------------------------------------------------------
Upper
Mafic
335.0 362.0 27.0 1.17 1.17 Flow
-------------------------------------------------------
392.0 397.0 5.0 1.26 1.26
-------------------------------------------------------------------------
DG-07-56 18,660E 59.0 66.0 7.0 1.86 1.86
(Gap Zone) -------------------------------------------------------
76.0 84.0 8.0 1.04 1.04
-------------------------------------------------------
131.0 136.0 5.0 4.20 4.20
-------------------------------------------------------
157.0 165.0 8.0 1.00 1.00
-------------------------------------------------------
176.5 182.0 5.5 2.59 2.45
-------------------------------------------------------
Inc. 176.5 177.0 0.5 21.48 20.00
-------------------------------------------------------
221.0 241.0 20.0 0.78 0.78
-------------------------------------------------------
257.0 262.0 5.0 1.00 1.00
-------------------------------------------------------
287.5 300.0 12.5 1.25 1.25
-------------------------------------------------------
325.0 344.0 19.0 1.26 1.26
-------------------------------------------------------
359.0 385.0 26.0 0.94 0.94
-------------------------------------------------------------------------
DG-07-57 19,040E 41.0 46.0 5.0 0.97 0.97
(Gap Zone) -------------------------------------------------------
85.2 91.0 5.8 1.04 1.04
-------------------------------------------------------
107.0 115.0 8.0 0.74 0.74
-------------------------------------------------------
Lower
Mafic
140.0 155.0 15.0 2.80 2.35 Flow
-------------------------------------------------------
Inc. 154.0 155.0 1.0 26.79 20.00
-------------------------------------------------------
190.0 197.0 7.0 0.95 0.95
-------------------------------------------------------------------------
DG-07-70 18,840E 29.0 37.0 8.0 1.99 1.99
(Gap Zone) -------------------------------------------------------
55.0 60.0 5.0 1.33 1.33
-------------------------------------------------------
88.8 96.0 7.20 1.63 1.63
-------------------------------------------------------
Mafic
129.3 141.0 11.7 7.12 2.56 Flow
-------------------------------------------------------
Inc. 135.5 136.0 0.5 93.43 20.00
-------------------------------------------------------
Inc. 136.0 136.5 0.5 53.21 20.00
-------------------------------------------------------
160.0 165.0 5.0 1.40 1.40
-------------------------------------------------------
196.0 207.0 11.0 1.03 1.03
-------------------------------------------------------
219.0 224.0 5.0 4.22 4.22
-------------------------------------------------------------------------
DG-07-71 19,040E 73.0 82.0 9.0 1.86 1.86
(Gap Zone) -------------------------------------------------------
Lower
Pillow
434.0 445.0 11.0 3.87 3.83 Flow
-------------------------------------------------------
Inc. 436.0 437.0 1.0 20.45 20.00
-------------------------------------------------------
465.0 471.0 6.0 0.92 0.92
-------------------------------------------------------
484.0 490.5 6.5 2.14 1.98
-------------------------------------------------------
Inc. 490.0 490.5 0.5 22.06 20.00
-------------------------------------------------------------------------
505.0 522.0 17.00 1.06 1.06
-------------------------------------------------------------------------
Pillow
DG-07-76 18,660E 65.0 102.8 37.8 1.01 1.01 Flow
(Gap Zone) -------------------------------------------------------
118.0 126.0 8.0 2.08 2.08
-------------------------------------------------------
Upper
Mafic
150.0 181.30 31.3 4.20 1.18 Flow
-------------------------------------------------------
Inc. 152.5 153.0 0.5 209.28 20.00
-------------------------------------------------------
206.0 214.0 8.0 1.05 1.05
-------------------------------------------------------
240.7 249.0 8.3 1.10 1.10
-------------------------------------------------------
PF (next
266.0 289.3 23.3 1.53 1.53 to CMH)
-------------------------------------------------------------------------
DG-07-78 18,840E 72.0 83.0 11.0 1.76 1.76
(Gap Zone) -------------------------------------------------------
154.0 165.0 11.0 1.83 1.83
-------------------------------------------------------
191.0 196.0 5.0 2.33 2.33
-------------------------------------------------------
220.0 227.0 7.0 1.26 1.26
-------------------------------------------------------
267.0 272.2 5.2 2.93 2.93
-------------------------------------------------------------------------
DG-07-79 18,880E 16.0 21.0 5.0 1.14 1.14
(Gap Zone) -------------------------------------------------------
91.0 110.5 19.5 1.11 1.11
-------------------------------------------------------
120.0 131.2 11.2 0.80 0.80
-------------------------------------------------------
138.0 142.0 4.0 3.46 3.46
-------------------------------------------------------
255.0 260.7 5.7 0.79 0.79
-------------------------------------------------------
Upper
Pillow
277.0 322.0 45.0 1.78 1.78 Flow
-------------------------------------------------------
Pillow
362.0 377.0 15.0 3.03 1.72 Flow
-------------------------------------------------------
Inc. 376.0 377.0 1.0 39.62 20.00
-------------------------------------------------------
410.0 418.3 8.3 0.88 0.88
-------------------------------------------------------
449.9 487.0 37.1 0.97 0.93
-------------------------------------------------------
Inc. 462.0 462.5 0.5 22.93 20.00
-------------------------------------------------------------------------
Upper
Pillow
DG-07-81 18,700E 74.0 94.0 20.0 1.66 1.66 Flow
(Gap Zone) -------------------------------------------------------
194.0 199.0 5.0 1.21 1.21
-------------------------------------------------------
251.0 258.0 7.0 1.24 1.24
-------------------------------------------------------
316.0 321.0 5.0 1.02 1.02
-------------------------------------------------------
349.0 354.0 5.0 3.18 2.02
-------------------------------------------------------
Inc. 349.0 349.5 0.5 31.59 20.00
-------------------------------------------------------
417.0 424.0 7.0 5.12 5.12 CMH
-------------------------------------------------------------------------
DG-07-83 18,880E 122.0 131.3 9.3 1.46 1.46
(Gap Zone) -------------------------------------------------------
177.0 184.0 7.0 0.87 0.87
-------------------------------------------------------
202.0 207.0 5.0 0.93 0.93
-------------------------------------------------------
229.0 234.0 5.0 1.89 1.89
-------------------------------------------------------
Pillow
277.0 291.0 14.0 1.82 1.82 Flow
-------------------------------------------------------
375.0 382.0 7.0 2.71 2.71
-------------------------------------------------------------------------
DG-07-85 18,920E 44.0 53.0 9.0 1.66 1.66
(Gap Zone) -------------------------------------------------------
59.0 67.0 8.0 0.86 0.86
-------------------------------------------------------
86.0 92.0 6.0 1.88 1.88
-------------------------------------------------------
122.0 129.0 7.0 0.73 0.73
-------------------------------------------------------
202.0 207.0 5.0 1.15 1.15
-------------------------------------------------------
Lower
Mafic
241.0 269.0 28.0 4.66 2.15 Flow
-------------------------------------------------------
Inc. 263.0 264.0 1.0 90.21 20.00
-------------------------------------------------------
293.7 301.0 7.3 0.83 0.83
-------------------------------------------------------------------------
DG-07-86A 18,800E 28.0 43.0 15.0 1.14 1.14
(Gap Zone) -------------------------------------------------------
98.0 113.5 15.5 0.85 0.85
-------------------------------------------------------
190.0 195.0 5.0 1.18 1.18
-------------------------------------------------------
207.0 213.0 6.0 1.57 1.57
-------------------------------------------------------
240.0 245.0 5.0 1.81 1.81
-------------------------------------------------------
255.0 278.5 23.5 0.90 0.90
-------------------------------------------------------
Lower
Mafic
293.5 321.0 27.5 2.53 2.35 Flow
-------------------------------------------------------
Inc. 293.5 294.0 0.5 24.97 20.00
-------------------------------------------------------
Inc. 317.0 317.8 0.8 21.94 20.00
-------------------------------------------------------
334.0 355.0 21.0 0.89 0.89
-------------------------------------------------------------------------
DG-07-87 18,960E 35.0 52.0 17.0 0.93 0.93
(Gap Zone) -------------------------------------------------------
80.0 85.0 5.0 0.88 0.88
-------------------------------------------------------
Lower
Pillow
93.0 109.0 16.0 1.96 1.85 Flow
-------------------------------------------------------
Inc. 105.0 106.0 1.0 21.79 20.00
-------------------------------------------------------
138.0 146.0 8.0 0.95 0.95
-------------------------------------------------------
180.0 185.0 5.0 1.42 1.42
-------------------------------------------------------
263.0 270.0 7.0 2.59 2.59
-------------------------------------------------------
CMH/PF
300.0 325.0 25.0 1.05 1.05 contact
-------------------------------------------------------------------------
DG-07-88 18,750E 222.7 230.6 7.9 1.73 1.73
(Gap Zone) -------------------------------------------------------
252.0 257.2 5.2 1.31 1.31
-------------------------------------------------------
295.0 301.0 6.0 3.91 3.62
-------------------------------------------------------
Inc. 296.0 297.0 1.0 21.70 20.00
-------------------------------------------------------------------------
DG-07-89 18,900E 50.0 59.0 9.0 0.93 0.93
(Gap Zone) -------------------------------------------------------
134.0 152.0 18.0 1.17 1.17
-------------------------------------------------------
180.0 185.0 5.0 1.07 1.07
-------------------------------------------------------
198.0 208.0 10.0 1.16 1.16
-------------------------------------------------------
220.0 225.0 5.0 1.36 1.36
-------------------------------------------------------
234.0 239.0 5.0 0.94 0.94
-------------------------------------------------------
279.5 287.0 7.5 0.86 0.86
-------------------------------------------------------
306.0 312.0 6.0 1.24 1.24
-------------------------------------------------------
335.0 340.0 5.0 0.97 0.97
-------------------------------------------------------
372.0 377.0 5.0 1.12 1.12
-------------------------------------------------------
435.0 440.0 5.0 1.10 1.10
-------------------------------------------------------
494.5 501.0 6.5 0.93 0.93
-------------------------------------------------------
531.0 536.4 5.4 7.32 5.29 CMH
-------------------------------------------------------
Inc. 532.0 533.0 1.0 30.95 20.00
-------------------------------------------------------------------------
DG-07-90 18,920E 71.0 76.0 5.0 1.06 1.06
(Gap Zone) -------------------------------------------------------
160.0 165.0 5.0 2.24 2.24
-------------------------------------------------------
207.0 218.0 11.0 1.99 1.99
-------------------------------------------------------
Upper
Mafic
277.0 308.5 31.5 1.78 1.70 Flow
-------------------------------------------------------
Inc. 279.5 280.0 0.5 22.48 20.00
-------------------------------------------------------
Inc. 296.1 296.6 0.5 22.65 20.00
-------------------------------------------------------------------------
DG-07-91 18,840E 22.0 27.0 5.0 1.05 1.05
(Gap Zone) -------------------------------------------------------
87.0 95.0 8.0 0.92 0.92
-------------------------------------------------------
125.0 130.0 5.0 0.92 0.92
-------------------------------------------------------
147.0 153.0 6.0 0.84 0.84
-------------------------------------------------------
182.0 192.0 10.0 1.21 1.21
-------------------------------------------------------
Lower
Pillow
200.0 232.0 32.0 1.01 1.01 Flow
-------------------------------------------------------
Upper
Mafic
300.7 333.0 32.3 2.15 1.66 Flow
-------------------------------------------------------
Inc. 311.8 312.5 0.7 42.77 20.00
-------------------------------------------------------
Upper
Mafic
348.0 353.0 5.0 15.28 2.49 Flow
-------------------------------------------------------
Inc. 350.6 351.2 0.6 126.60 20.00
-------------------------------------------------------
410.0 416.0 6.0 1.92 1.92
-------------------------------------------------------------------------
DG-07-99 19,720E 177.0 182.0 5.0 1.63 1.63
(West Pit) -------------------------------------------------------
196.0 201.0 5.0 2.14 2.14
-------------------------------------------------------
Lower
Mafic
212.6 240.9 28.3 2.84 1.09 Flow
-------------------------------------------------------
Inc. 212.6 213.1 0.5 63.17 20.00
-------------------------------------------------------------------------
Inc. 228.5 229.0 0.5 75.51 20.00
-------------------------------------------------------------------------
DG-07-102 19,360E 55.0 73.0 18.0 1.00 1.00
(West Pit) -------------------------------------------------------
98.0 104.0 6.0 1.13 1.13
-------------------------------------------------------
152.0 157.0 5.0 7.09 2.55 MF & PF
-------------------------------------------------------
Inc. 153.0 153.6 0.6 57.79 20.00
-------------------------------------------------------
261.0 280.0 19.0 0.90 0.90
-------------------------------------------------------
381.0 387.5 6.5 2.21 2.21
-------------------------------------------------------
407.0 427.0 20.0 1.23 1.23
-------------------------------------------------------------------------
Lower
Mafic
DG-07-105 19,360E 88.6 126.0 37.4 1.52 1.48 Flow
(West Pit) -------------------------------------------------------
Inc. 91.0 92.0 1.0 21.62 20.00
-------------------------------------------------------
212.0 219.0 7.0 0.67 0.67
-------------------------------------------------------------------------
DG-07-107 19,560E 57.0 72.0 15.0 0.96 0.96
(West Pit) -------------------------------------------------------
85.0 90.0 5.0 1.10 1.10
-------------------------------------------------------------------------
DG-07-109 19,480E 104.0 115.6 11.6 1.31 1.31
(West Pit) -------------------------------------------------------
-------------------------------------------------------------------------
Note: All values above 20 g/t in the composite are reported in the
table. True width is estimated to be 65 to 75% of the drilled length.
About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company's main focus is to advance its exploration programs on its premier land position in Ghana totaling 290 square kilometres, located on strike and adjacent to AngloGold Ashanti's Obuasi gold mine.
Pelangio also has a 49.6% equity interest in Detour Gold, which controls the Detour Lake advanced exploration project. The near-term objective of Detour Gold is to advance the Detour Lake project to development and production.
Contacts: Pelangio Mines Inc. Ingrid Hibbard President & CEO (905) 875-3828 or Toll Free: 1-877-746-1632 Pelangio Mines Inc. Warren Bates Vice President Exploration (905) 875-3828 or Toll Free: 1-877-746-1632 (905) 875-3829 (FAX) Email: info@pelangio.com Website: www.pelangio.com
SOURCE: Pelangio Mines Inc.
mailto:info@pelangio.com http://www.pelangio.com
Copyright 2007 Market Wire, All rights reserved.
GRENVILLE GOLD CORP
Grenville Seeks Development Proposals for Espanola, Assigns Exploration Project Manager for Silveria
10/17/2007
VANCOUVER, BC, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Grenville Gold Corporation (TSX-V: GVG) (PINKSHEETS: GVLGF) (FRANKFURT: F9I) (WKN: A0KELU) ("Grenville" or "the Company") announces the Company is accepting development proposals for the Espanola Property. An initial NI 43-101 compliant report has been completed and available on the Grenville Gold Corp. website at: http://www.grenvillegoldcorp.com/Properties/Espanola/tabid/68/Default.aspx
A total of 45 grab samples of rock were collected from various underground workings with assays ranging from 70 parts per million to 11.37 per cent copper and 0.007 to 0.794 grams of gold/tonne. Mineralization on surface is hosted by steeply dipping malachite-stained quartz veins averaging between 0.5 to 3 meters wide. In the underground workings sulphide mineralogy consists of bornite and chalcopyrite. Results are consistent with the former producing Raul/Condestable Mines, located 15 kilometers west of Espanola. These mines are reported to have produced over 20 million tons of ore grading 1.5% copper and 0.5 grams of gold per tonne. The average of the samples was 0.19 ppm Gold and 2.51% Copper. The table below lists results.
-----------------------------------------------------
Sample Number Gold Copper Sample Number Gold Copper
ppm % ppm %
-----------------------------------------------------
01526 0.609 3.23 01549 0.027 0.52
-----------------------------------------------------
01527 0.464 2.88 01550 0.011 0.53
-----------------------------------------------------
01528 0.094 1.85 01633 0.043 5.05
-----------------------------------------------------
01529 0.101 2.14 01634 0.018 1.64
-----------------------------------------------------
01530 0.499 8.77 01635 0.185 4.35
-----------------------------------------------------
01531 0.011 0.01 01636 0.597 2.96
-----------------------------------------------------
01532 0.783 3.95 01637 0.189 0.94
-----------------------------------------------------
01533 0.177 4.69 01638 0.283 2.17
-----------------------------------------------------
01534 0.794 5.70 01639 0.052 2.93
-----------------------------------------------------
01535 0.170 3.60 01640 0.111 5.46
-----------------------------------------------------
01536 0.104 1.89 01641 0.103 0.52
-----------------------------------------------------
01537 0.325 0.61 01642 0.457 11.37
-----------------------------------------------------
01538 0.008 0.09 01643 0.189 5.70
-----------------------------------------------------
01539 0.015 2.19 01644 0.239 4.60
-----------------------------------------------------
01540 0.009 0.83 01645 0.189 1.51
-----------------------------------------------------
01541 0.007 1.92 01646 0.189 3.03
-----------------------------------------------------
01542 0.037 0.44 01647 0.048 1.54
-----------------------------------------------------
01543 0.017 0.51 01648 0.114 0.04
-----------------------------------------------------
01544 0.012 0.01 01649 0.364 1.46
-----------------------------------------------------
01545 0.012 0.31 01650 0.445 3.88
-----------------------------------------------------
01546 0.009 0.71 01419 0.142 0.10
-----------------------------------------------------
At present, Grenville is focused on the development of the Silveria Property. Sr. Manuel Escalano, Ph.D, Manager of Exploration and Mine Development for Inversiones Mineras Alexander S.A.C., has been assigned the task of organizing the early stage exploration at the Silveria Project. The focus of exploration is to identify above surface and underground drill targets.
The technical information contained in this release has been reviewed by Jeffrey Reeder P.Geo technical advisor for Grenville Gold and qualified person as defined in National Instrument 43-101 in a release dated May 16, 2007.
About Grenville Gold Corporation
Grenville Gold (www.grenvillegoldcorp.com) is a junior resource company seeking prospective properties in Peru and Ecuador. The company has three subsidiaries: 90% owned Inversiones Mineras Alexander S.A.C. in Peru which owns the Silveria Property which has a resource target of 40-100 ounces of Silver, Espanola Property and the Chorobal Property, Minera MineGreville S.A. in Ecuador which has an option to acquire the La Tigrera Project, and Parkman Diamond Corp. in Ontario, Canada which owns the Parkman Diamond Prospect. Grenville Gold plans to leverage the experience of its Board and Management in exploration and mining to develop its growth strategy in North and South America.
On behalf of the Board of Directors, "A. Paul Gill" President & CEO Ph. 604-669-8842 info@grenvillegold.com
We Seek Safe Harbour
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact: A. Paul Gill President & CEO Ph. 604-669-8842 Email Contact
SOURCE: Grenville Gold Corporation
http://www2.marketwire.com/mw/emailprcntct?id=AE102476D6504FC9
Grenville Seeks Development Proposals for Espanola, Assigns Exploration Project Manager for Silveria
10/17/2007
VANCOUVER, BC, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Grenville Gold Corporation (TSX-V: GVG) (PINKSHEETS: GVLGF) (FRANKFURT: F9I) (WKN: A0KELU) ("Grenville" or "the Company") announces the Company is accepting development proposals for the Espanola Property. An initial NI 43-101 compliant report has been completed and available on the Grenville Gold Corp. website at: http://www.grenvillegoldcorp.com/Properties/Espanola/tabid/68/Default.aspx
A total of 45 grab samples of rock were collected from various underground workings with assays ranging from 70 parts per million to 11.37 per cent copper and 0.007 to 0.794 grams of gold/tonne. Mineralization on surface is hosted by steeply dipping malachite-stained quartz veins averaging between 0.5 to 3 meters wide. In the underground workings sulphide mineralogy consists of bornite and chalcopyrite. Results are consistent with the former producing Raul/Condestable Mines, located 15 kilometers west of Espanola. These mines are reported to have produced over 20 million tons of ore grading 1.5% copper and 0.5 grams of gold per tonne. The average of the samples was 0.19 ppm Gold and 2.51% Copper. The table below lists results.
-----------------------------------------------------
Sample Number Gold Copper Sample Number Gold Copper
ppm % ppm %
-----------------------------------------------------
01526 0.609 3.23 01549 0.027 0.52
-----------------------------------------------------
01527 0.464 2.88 01550 0.011 0.53
-----------------------------------------------------
01528 0.094 1.85 01633 0.043 5.05
-----------------------------------------------------
01529 0.101 2.14 01634 0.018 1.64
-----------------------------------------------------
01530 0.499 8.77 01635 0.185 4.35
-----------------------------------------------------
01531 0.011 0.01 01636 0.597 2.96
-----------------------------------------------------
01532 0.783 3.95 01637 0.189 0.94
-----------------------------------------------------
01533 0.177 4.69 01638 0.283 2.17
-----------------------------------------------------
01534 0.794 5.70 01639 0.052 2.93
-----------------------------------------------------
01535 0.170 3.60 01640 0.111 5.46
-----------------------------------------------------
01536 0.104 1.89 01641 0.103 0.52
-----------------------------------------------------
01537 0.325 0.61 01642 0.457 11.37
-----------------------------------------------------
01538 0.008 0.09 01643 0.189 5.70
-----------------------------------------------------
01539 0.015 2.19 01644 0.239 4.60
-----------------------------------------------------
01540 0.009 0.83 01645 0.189 1.51
-----------------------------------------------------
01541 0.007 1.92 01646 0.189 3.03
-----------------------------------------------------
01542 0.037 0.44 01647 0.048 1.54
-----------------------------------------------------
01543 0.017 0.51 01648 0.114 0.04
-----------------------------------------------------
01544 0.012 0.01 01649 0.364 1.46
-----------------------------------------------------
01545 0.012 0.31 01650 0.445 3.88
-----------------------------------------------------
01546 0.009 0.71 01419 0.142 0.10
-----------------------------------------------------
At present, Grenville is focused on the development of the Silveria Property. Sr. Manuel Escalano, Ph.D, Manager of Exploration and Mine Development for Inversiones Mineras Alexander S.A.C., has been assigned the task of organizing the early stage exploration at the Silveria Project. The focus of exploration is to identify above surface and underground drill targets.
The technical information contained in this release has been reviewed by Jeffrey Reeder P.Geo technical advisor for Grenville Gold and qualified person as defined in National Instrument 43-101 in a release dated May 16, 2007.
About Grenville Gold Corporation
Grenville Gold (www.grenvillegoldcorp.com) is a junior resource company seeking prospective properties in Peru and Ecuador. The company has three subsidiaries: 90% owned Inversiones Mineras Alexander S.A.C. in Peru which owns the Silveria Property which has a resource target of 40-100 ounces of Silver, Espanola Property and the Chorobal Property, Minera MineGreville S.A. in Ecuador which has an option to acquire the La Tigrera Project, and Parkman Diamond Corp. in Ontario, Canada which owns the Parkman Diamond Prospect. Grenville Gold plans to leverage the experience of its Board and Management in exploration and mining to develop its growth strategy in North and South America.
On behalf of the Board of Directors, "A. Paul Gill" President & CEO Ph. 604-669-8842 info@grenvillegold.com
We Seek Safe Harbour
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact: A. Paul Gill President & CEO Ph. 604-669-8842 Email Contact
SOURCE: Grenville Gold Corporation
http://www2.marketwire.com/mw/emailprcntct?id=AE102476D6504FC9
Oct 17, 2007 09:50 ET
Silver Eagle Mines Announces Significant Resources IncreaseTORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - Silver Eagle Mines Inc. (TSX:SEG) is pleased to report an increase in indicated resources in excess of 500%, at its wholly owned Miguel Auza Property in Zacatecas, Mexico. Since announcing its initial resource estimate in April of 2006, an intensive diamond drill campaign has resulted in an increase in the indicated resource from 3.2M oz Ag Eq(2) to 21.1M oz Ag Eq(1) while the inferred resource has decreased slightly, from 9.4M oz Ag Eq(2) to 9.1M oz Ag Eq(1). Wayne Valliant P.Geo., of Scott Wilson Roscoe Postle Associates Inc has audited and approved our updated resource estimate and is preparing the technical report.
The following tables summarize the new indicated and inferred resource estimates, respectively, as approved by Mr. Valliant:
mal sehen!
Silver Eagle Mines Announces Significant Resources IncreaseTORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - Silver Eagle Mines Inc. (TSX:SEG) is pleased to report an increase in indicated resources in excess of 500%, at its wholly owned Miguel Auza Property in Zacatecas, Mexico. Since announcing its initial resource estimate in April of 2006, an intensive diamond drill campaign has resulted in an increase in the indicated resource from 3.2M oz Ag Eq(2) to 21.1M oz Ag Eq(1) while the inferred resource has decreased slightly, from 9.4M oz Ag Eq(2) to 9.1M oz Ag Eq(1). Wayne Valliant P.Geo., of Scott Wilson Roscoe Postle Associates Inc has audited and approved our updated resource estimate and is preparing the technical report.
The following tables summarize the new indicated and inferred resource estimates, respectively, as approved by Mr. Valliant:
mal sehen!
Silver Eagle
SILVER EAGLE MINES INC
Silver Eagle Mines Announces Significant Resources Increase
10/17/2007
TORONTO, ONTARIO, Oct 17, 2007 (MARKET WIRE via COMTEX News Network) --
Silver Eagle Mines Inc. (TSX: SEG) is pleased to report an increase in indicated resources in excess of 500%, at its wholly owned Miguel Auza Property in Zacatecas, Mexico. Since announcing its initial resource estimate in April of 2006, an intensive diamond drill campaign has resulted in an increase in the indicated resource from 3.2M oz Ag Eq(2) to 21.1M oz Ag Eq(1) while the inferred resource has decreased slightly, from 9.4M oz Ag Eq(2) to 9.1M oz Ag Eq(1). Wayne Valliant P.Geo., of Scott Wilson Roscoe Postle Associates Inc has audited and approved our updated resource estimate and is preparing the technical report.
The following tables summarize the new indicated and inferred resource estimates, respectively, as approved by Mr. Valliant:
Indicated Mineral Resources
---------------------------
---------------------------------------------------------------------------
Contained
Zone Tonnes Grade Metal
---------------------------------------------------------------------------
Au Ag Pb Zn Ag Eq Ag Eq
---------------------------------------------------------------------------
(t x 1,000)) (g/t) (g/t) (%) (%) (g/t) (Oz x 1,000)
---------------------------------------------------------------------------
Calvario A 1,496 0.18 147 2.08 2.13 326 15,698
---------------------------------------------------------------------------
Calvario B 169 0.21 120 2.40 3.09 357 1,940
---------------------------------------------------------------------------
Milagro 351 0.17 143 1.88 1.86 302 3,414
---------------------------------------------------------------------------
Total
Indicated 2,016 0.18 144 2.07 2.16 325 21,052
---------------------------------------------------------------------------
Inferred Mineral Resources
--------------------------
---------------------------------------------------------------------------
Contained
Zone Tonnes Grade Metal
---------------------------------------------------------------------------
Au Ag Pb Zn Ag Eq Ag Eq
---------------------------------------------------------------------------
(t x 1,000)) (g/t) (g/t) (%) (%) (g/t) (Oz x 1,000)
---------------------------------------------------------------------------
Calvario A 476 0.19 150 1.32 1.28 272 4,153
---------------------------------------------------------------------------
Calvario B 19 0.06 56 1.02 0.64 124 77
---------------------------------------------------------------------------
Calvario C 122 0.14 130 1.84 1.28 259 1,013
---------------------------------------------------------------------------
North 177 0.22 625 0.63 0.44 676 3,840
---------------------------------------------------------------------------
Total
Inferred 794 0.20 250 1.24 1.08 356 9,083
---------------------------------------------------------------------------
(1). The October 2007 Resource estimate was prepared under the supervision
of Silver Eagle's qualified person Dr. Christopher Hodgson, P, Eng., and
audited by Wayne Valliant P.Geo., of Scott Wilson Roscoe Postle Associates
Inc.
- CIM definitions were followed for mineral resources.
- Indicated mineral resources were estimated using a cutoff net smelter
return of US$ 40, based on metal prices, plant recoveries, and smelter
terms as per notes below.
- Inferred mineral resources were estimated using a cutoff net smelter
return of US$ 30, based on metal prices, plant recoveries, and smelter
terms as per notes below.
- A minimum mining width of 1.0 m was used.
- Equivalent Ag grades and contained ounces were estimated based on
US$600/oz gold, US$11/oz silver, US$0.65/lb lead, and US$1.00/lb zinc.
- Equivalent Ag grades and contained ounces were estimated based on gold,
silver, lead, and zinc plant recoveries as per the most recent
metallurgical test work and smelter terms.
- Mineral resources that are not mineral reserves do not have demonstrated
economic viability.
- Rows and columns may not add exactly due to rounding.
(2). The resource information presented in the April 2006 resource estimate
Technical Report and used herein was prepared under the supervision of an
independent "Qualified Person" within the meaning of National Instrument
43-101 and is contained in a report entitled "Technical Report Miguel Auza
Property" by Wayne Valliant, P. Geo, dated April 2006 which was prepared in
accordance with National Instrument 43-101. The report is available for
inspection at the Company's office during business hours. Silver
equivalents were calculated using US$450/oz Au; US$7.00/oz Ag;
US$0.40/lb Pb; US$0.60/lb Zn. The cut-off NSR value included a 70% overall
mill + smelter recovery as determined by preliminary metallurgical test
work.
Silver Eagle's President and CEO, Mr. Terrence Byberg, said "We are very pleased with the resource update and will form the basis of the pre-feasibility study currently in progress in respect of the Miguel Auza Mine. Our diamond drilling program will continue at the mine site with a goal of further enhancing the resource and life of mine plan. To this end, we currently have one contracted drill and two Company owned drills working on the Property from surface. We are also in the process of purchasing an additional diamond drill which can be used either on surface or underground".
Silver Eagle will be taking part in the Cambridge House Toronto Resource Investment Conference being held at the Metro Convention Centre on October 21/22, at Booth 317.
ABOUT SILVER EAGLE
Silver Eagle Mines Inc. is a TSX-listed (TSX: SEG), Canadian-based mining company exploring and redeveloping an historic silver property in the heart of the Mexican precious metals belt. The Company's primary asset is its wholly-owned Mexican subsidiary San Pedro Resources, S.A. de C.V., which controls the fully permitted Miguel Auza Mine and adjacent properties in Zacatecas, Mexico. The property includes the mineral rights to 41,498 hectares, hosts past producing mines, and has all necessary infrastructure and a trained mining work force nearby. The present resource consists of an indicated mineral resource of 21.1M oz Ag Eq(1) and inferred mineral resource of 9.1M oz Ag Eq(1). The Miguel Auza Mine generated its first revenue earlier this year and is currently processing a 30,000 tonne bulk sample through its on-site mill which has been expanded to a daily capacity of up to 200 tonnes per day of oxides. Silver Eagle continues to diamond drill the Miguel Auza Mine site with 3 drill rigs and has also commenced a preliminary exploration program on its other Mexican properties, outside the Miguel Auza Mine area.
ON BEHALF OF THE BOARD OF DIRECTORS OF SILVER EAGLE MINES INC.
Terrence H. Byberg, President & CEO
If you would like to receive press releases via email please contact Catarina@chfir.com please specify "Silver Eagle press releases" in the subject line.
Or visit the Company's website at: www.silvereaglemines.com
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
(The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.)
Contacts: Silver Eagle Mines Inc. Terrence H. Byberg President & CEO (416) 361-1101 (416) 361-9280 (FAX) Email: info@silvereaglemines.com Website: www.silvereaglemines.com CHF Investor Relations Robin Cook Account Manager (416) 868-1079 x228 (416) 868-6198 (FAX) Email: robin@chfir.com
SOURCE: Silver Eagle Mines Inc.
mailto:info@silvereaglemines.com http://www.silvereaglemines.com mailto:robin@chfir.com
Copyright 2007 Market Wire, All rights reserved.
wenn werden da ergebnisse erwartet?
K ueber TSX ins Mittelfristdepot
Fieldex (TSX-V:FLX)
Fieldex (TSX-V:FLX)
Laut Raketen in absehbarer Zeit, was immer das auch heissen mag!
Short WL
MacDonald Mining
MacDonald Mining
das nenne ich mal einen Glueckstreffer
meine waren die zu 0,39 CAD :D
MacDonald 1 CAD 
CORNERSTONE CAPITAL RSCS
Cornerstone Private Placement Completed
10/17/2007
MOUNT PEARL, NEWFOUNDLAND AND LABRADOR, Oct 17, 2007 (Marketwire via COMTEX News Network) --
Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) today announced completion of the private placement announced September 17, 2007. The company is pleased to announce that the offering was fully subscribed for total proceeds of $3.025 million.
The financing consisted of a non-brokered private placement of 5,500,000 units. Each unit was priced at $0.55 per unit and consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.80 for two years following the closing.
A finder's fee of 6 1/2% was payable in units to dealers who assisted in the placement.
All shares issued pursuant to the placement will bear a legend restricting transfer until February 18, 2008.
Participants in the private placement include Global NR Holding SA, a Luxembourg-based holding company which is controlled by the Lundin family and Exploration Capital Partners, which is controlled by the Rule Family Trust. Other investors include Doug Casey personally and another senior industry letter writer. Cornerstone wishes to welcome the new shareholders and to express appreciation to all shareholders for their continued trust and confidence.
The proceeds of the issuance will be used to advance existing properties, to generate and acquire new exploration properties and to provide working capital to the Corporation.
Cornerstone Capital Resources Inc. is a mineral exploration company with a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. Cornerstone's current and past joint venture partners include Agnico Eagle, Celtic, Cash Minerals, Candente, Coastport, Cogitore, Falconbridge, Inmet, Kermode, Mountain Lake, Moydow, Noranda, Phelps Dodge, and Thundermin.
On Behalf of the Board,
Glen H. McKay, President & CEO
The common shares of the Company are currently listed on the TSXV in Canada (symbol CGP), the OTC in the USA (symbol CTNXF) and the Frankfurt Stock Exchange (symbol GWN)
SOURCE: Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc. Glen H. McKay President & CEO Toll free: 1-877-277-8377 Email: communications@crigold.com Website: www.cornerstoneresources.com
Copyright (C) 2007 Marketwire. All rights reserved.
Cornerstone Private Placement Completed
10/17/2007
MOUNT PEARL, NEWFOUNDLAND AND LABRADOR, Oct 17, 2007 (Marketwire via COMTEX News Network) --
Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) today announced completion of the private placement announced September 17, 2007. The company is pleased to announce that the offering was fully subscribed for total proceeds of $3.025 million.
The financing consisted of a non-brokered private placement of 5,500,000 units. Each unit was priced at $0.55 per unit and consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.80 for two years following the closing.
A finder's fee of 6 1/2% was payable in units to dealers who assisted in the placement.
All shares issued pursuant to the placement will bear a legend restricting transfer until February 18, 2008.
Participants in the private placement include Global NR Holding SA, a Luxembourg-based holding company which is controlled by the Lundin family and Exploration Capital Partners, which is controlled by the Rule Family Trust. Other investors include Doug Casey personally and another senior industry letter writer. Cornerstone wishes to welcome the new shareholders and to express appreciation to all shareholders for their continued trust and confidence.
The proceeds of the issuance will be used to advance existing properties, to generate and acquire new exploration properties and to provide working capital to the Corporation.
Cornerstone Capital Resources Inc. is a mineral exploration company with a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. Cornerstone's current and past joint venture partners include Agnico Eagle, Celtic, Cash Minerals, Candente, Coastport, Cogitore, Falconbridge, Inmet, Kermode, Mountain Lake, Moydow, Noranda, Phelps Dodge, and Thundermin.
On Behalf of the Board,
Glen H. McKay, President & CEO
The common shares of the Company are currently listed on the TSXV in Canada (symbol CGP), the OTC in the USA (symbol CTNXF) and the Frankfurt Stock Exchange (symbol GWN)
SOURCE: Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc. Glen H. McKay President & CEO Toll free: 1-877-277-8377 Email: communications@crigold.com Website: www.cornerstoneresources.com
Copyright (C) 2007 Marketwire. All rights reserved.
wuerde ich jetzt nicht mehr longen
Die drei größten Eisenerz-Exporteure Companhia Vale Do Rio Doce, Rio Tinto und BHP Billiton werden im kommenden Jahr versuchen die Preise für Eisenerz um 30% zu erhöhen, denn die Nachfrage nach Eisenerz, vor allem getrieben von Stahlherstellern aus China, wächst derzeit schneller als die Versorgung mit dem notwendigen Rohstoff. Mit den Vertragsverhandlungen über die im April 2008 beginnenden Eisenerzlieferungen wird noch diesen Monat begonnen werden.
Laut einer Schätzung von Meryll Lynch werden die Verkäufe von Eisenerz dieses Jahr um 11% steigen, die Versorgung mit dem Rohstoff jedoch nur um 8% zulegen. Die Preise für eine Tonne Eisenerz aus Australien könnten auf ein Rekordhoch von bis zu 66,40 USD steigen. Zum Vergleich: 2007 beträgt der Preis für für eine Tonne noch 51,47 USD. Laut der Voraussage einiger renomierter Analysten könnte der Durchschnittspreis für eine Tonne Eisen somit auf einen Preis von bis zu 108,47 USD steigen.
Alles was Nickel und Eisenerz exploriert könnte davon fett provitieren!
Laut einer Schätzung von Meryll Lynch werden die Verkäufe von Eisenerz dieses Jahr um 11% steigen, die Versorgung mit dem Rohstoff jedoch nur um 8% zulegen. Die Preise für eine Tonne Eisenerz aus Australien könnten auf ein Rekordhoch von bis zu 66,40 USD steigen. Zum Vergleich: 2007 beträgt der Preis für für eine Tonne noch 51,47 USD. Laut der Voraussage einiger renomierter Analysten könnte der Durchschnittspreis für eine Tonne Eisen somit auf einen Preis von bis zu 108,47 USD steigen.
Alles was Nickel und Eisenerz exploriert könnte davon fett provitieren!
Tag zusammen! 
Wer ist aktuell bei Alexandria Minerals, -A9D- up to date?
Was sagt die Newspipeline? Nach der letzten News gab es immerhin eine kurze Kursralley aber es fehlt die Nachhaltigkeit.
Mir gefällt der Wert, Potential meiner Meinung nach absolut da und gute Liegenschaften. Wundert mich fast schon, dass der Kurs nicht schon in ner anderen Region ist.
Gibt es hier Gründe? Probleme oder Verzögerungen?
Wäre super wenn Ihr ne kurze Einschätzung abgeben könntet.
Fischländer hat sich glaub mal intensiver mit dem Wert beschäftigt.
-LR8-, Largo halte ich weiter weil ich absolut überzeugt von dem Wert bin!
-NJF-, Mustang Minerals bleibt ebenso im Depot und wird mit gutem EK weiterlaufen.
OZ4, Oriental Minerals habe ich auf "Strong Watch"! Hier liege ich mit Limit im Markt und gehe da mal wenn das Limit greift ne mittelfristige Position ein.
SVZ, Sparton Resources ebenso "Strong Watch"!
Gruß @ all
ollinho
Wer ist aktuell bei Alexandria Minerals, -A9D- up to date?
Was sagt die Newspipeline? Nach der letzten News gab es immerhin eine kurze Kursralley aber es fehlt die Nachhaltigkeit.
Mir gefällt der Wert, Potential meiner Meinung nach absolut da und gute Liegenschaften. Wundert mich fast schon, dass der Kurs nicht schon in ner anderen Region ist.
Gibt es hier Gründe? Probleme oder Verzögerungen?
Wäre super wenn Ihr ne kurze Einschätzung abgeben könntet.
Fischländer hat sich glaub mal intensiver mit dem Wert beschäftigt.
-LR8-, Largo halte ich weiter weil ich absolut überzeugt von dem Wert bin!
-NJF-, Mustang Minerals bleibt ebenso im Depot und wird mit gutem EK weiterlaufen.
OZ4, Oriental Minerals habe ich auf "Strong Watch"! Hier liege ich mit Limit im Markt und gehe da mal wenn das Limit greift ne mittelfristige Position ein.
SVZ, Sparton Resources ebenso "Strong Watch"!
Gruß @ all
ollinho
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