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Rohstoffthread (Archiv)
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Sehe ich auch so - allerdings gibt es schon viele Ecuador-lastige Explorer, die natürlich einige Lizenzen noch unexploriert lassen. Bin mir nicht sicher, welche das genau sind, aber ich glaube z.B. dass auch Exeter (kann mich aber auch täuschen) dazu gehört.
ok, schaun mir mal - ich hatte das im Bezug auf die Überschrift mit dem Schwerpunkt - Produzierende - nicht Produzenten gesehen.......
Sehe ich auch so - allerdings gibt es schon viele Ecuador-lastige Explorer, die natürlich einige Lizenzen noch unexploriert lassen. Bin mir nicht sicher, welche das genau sind, aber ich glaube z.B. dass auch Exeter (kann mich aber auch täuschen) dazu gehört.
Nov 12, 2007 07:00 ET
Tyler Resources Board of Directors Unanimously Recommends Shareholders Reject Unsolicited Offer by Mercator Minerals Ltd.
CALGARY, ALBERTA--(Marketwire - Nov. 12, 2007) - Tyler Resources Inc. (TSX VENTURE:TYS) ("Tyler" or the "Company") understands that on November 9, 2007 Mercator Minerals Ltd. ("Mercator") formally commenced an unsolicited offer to purchase all of the issued and outstanding common shares of Tyler on the basis of 0.113 of a Mercator common share for each Tyler common share.
Based on the closing price of Mercator common shares on the Toronto Stock Exchange on November 9, 2007, the unsolicited Mercator offer is equivalent to $1.09 per Tyler common share.
Tyler's Board of Directors (the "Board"), based on the advice and recommendations of its Special Committee of independent directors, unanimously recommends that Tyler shareholders REJECT the Mercator unsolicited takeover bid and NOT tender their shares to the offer. The Board has based its recommendation on a number of factors, including that:
- The Mercator offer significantly undervalues the Bahuerachi deposit and is a clear attempt to acquire Tyler before Tyler shareholders can realize the full value for their shares as the Company increases the resource base at Bahuerachi and moves towards the higher valuation typically seen for companies as they advance closer to feasibility, development and production;
- Tyler has been approached by, and has initiated contact with, other parties who have expressed an interest in pursuing potential alternative transactions that may provide superior value to Tyler shareholders;
- The terms of the offer are substantially lower than an offer Mercator made to the Company on October 5, 2007, which contemplated an offer of $1.25 for each Tyler common share implying an exchange ratio of 0.1437 on October 5, 2007, and which Tyler viewed as inadequate and allowed to expire on October 10, 2007.
Following further review, consideration and evaluation of the offer in consultation with its legal and financial advisors, Tyler's Board of Directors will issue and file with Canadian securities commissions a Directors' Circular that will contain important information. Shareholders are urged to read the Directors' Circular in its entirety once it is made available, including the Board of Directors' formal recommendation regarding the offer.
Tyler's Special Committee of independent directors has engaged CIBC World Markets as financial advisor and Burnet, Duckworth & Palmer LLP as legal counsel. The Special Committee, with the assistance of its financial and legal advisors, is considering all possible strategic alternatives available to Tyler to maximize shareholder value including any competing offers it may receive.
Company Statements
Alan Craven, Chairman of the Special Committee said, "We believe Mercator's previous offer significantly undervalued Tyler. This new unsolicited offer is worse. Tyler shareholders own 100% of a world-class asset in the Bahuerachi deposit and emerging mineral district. Mercator's opportunistic offer is inadequate as it fails to recognize Tyler's future growth profile based on the remaining deposit expansion potential and strong discovery potential at Bahuerachi."
Commented Jean-Pierre Jutras, Director, President and CEO of Tyler, "Tyler has delivered a 525 million tonne mineral deposit (measured and indicated resource) from the grassroots stage within three years of commencement of drilling. Based on this track record and management's strong belief that there remains significant upside both at the deposit and regional scale to materially expand on the current resource, it is clear to us that the Mercator offer falls significantly short of providing fair value to our shareholders and seeks to deprive them of significant upside potential. Results from ongoing drilling and an update of the mineral resource at Bahuerachi at year end will be the first steps in demonstrating Bahuerachi's true potential, and an offer at this time will prevent Tyler from delivering the results of its stated work programs and pre-empt Tyler's shareholders from realizing the higher valuation associated with an increased resource base and progress towards production."
"Tyler's value is recognized even by Mercator's own financial advisor, Jennings Capital Inc., which issued a research report on October 10, 2007 establishing a 12-month target price for Tyler of $2.50 per share, implying a potential gain of 121% based on Tyler's closing price on November 9, 2007. In contrast, in a separate October 18, 2007 research report Jennings established a 12-month target price of $11.50 for Mercator, implying a potential gain of just 19% based on Mercator's closing price of $9.68 on November 9, 2007," added Mr. Jutras.
Bahuerachi Property
Tyler's Bahuerachi property is becoming recognized as a world-class base and precious metals district with strong economic potential. Tyler has filed with the applicable securities commissions a detailed National Instrument 43-101 compliant Preliminary Economic Assessment Report or scoping study dated effective November 8, 2007. The study outlined that the Bahuerachi deposit, as it is known today in its early phases of work, could generate a pre-tax internal rate of return of 53%, a preproduction capital payback of less than two years and a net present value of US$1.9 billion at an 8% discount rate based on three year historical average metal prices, which are substantially lower than current prices. The scoping study suggests that Bahuerachi could support an initial mine life of 12 years based on an analysis of only 251 million tonnes, or 41%, of the measured, indicated and inferred resource tonnage identified in the most recent Bahuerachi resource estimate, in May 2007.
Tyler expects to complete a pre-feasibility study in 2008 that will significantly build on the results of the scoping study. The pre-feasibility study will be based on an updated resource estimate, which will incorporate all new drilling information generated from May to December of 2007. This new drilling information, including significant mineralization intercepts in five drill holes disclosed by Tyler on June 13, 2007, six drill holes disclosed by Tyler on August 2, 2007, and all current and ongoing drilling, was not incorporated into the May 2007 resource estimate and therefore the subsequent scoping study.
The Independent Qualified Persons who authored the scoping study were Mr. Herb Welhener, Vice President, Independent Mining Consultants, Inc. of Tucson, Arizona, and Joseph M. Keane, P. Eng., Principal Metallurgical Engineer of K.D. Engineering Company of Tucson, Arizona. Both are Qualified Persons, as defined by Canada's National Instrument 43-101 for the disclosure of mineral projects. As required by National Instrument 43-101, Tyler cautions that the scoping study is a preliminary assessment and is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. The scoping study is available for review on SEDAR and on Tyler's website.
The May 2007 resource estimate for the Bahuerachi deposit is filed on SEDAR. Keith McCandlish, P, Geol., is responsible for this resource estimate and is an Independent Qualified Person as defined by NI 43-101. A summary of the May 2007 resource estimate is included in the table below.
Bahuerachi Main Zone Deposit at a 0.2% copper grade cutoff
----------------------------------------------------------------------------Resource CuEq CuZnEq Category Grade Grade classification Tonnes Cu(%) Mo(%) Au(g/t) Ag(g/t) Zn(%) (%)(1) (%)(1)----------------------------------------------------------------------------Measured 92,398,260 0.47 0.008 0.05 3.86 0.44 0.61 0.84----------------------------------------------------------------------------Indicated 432,111,525 0.38 0.008 0.03 4.07 0.57 0.52 0.82----------------------------------------------------------------------------Measured + Indicated 524,509,785 0.40 0.008 0.03 4.03 0.55 0.54 0.83----------------------------------------------------------------------------Inferred 80,174,744 0.38 0.007 0.02 3.11 0.45 0.49 0.74----------------------------------------------------------------------------
(1) For the purpose of the final report as delivered by AGL, CuEq and CuZnEq grades based on revised metal price assumptions as follow: Copper US$1.50/lb, Molybdenum US$15.00/lb, Gold US$550/Oz, Silver US$10.00/Oz and Zinc US$0.80/lb. Copper equivalents, metallurgical recoveries and net smelter returns are assumed to be 100%.
Tyler also announces that it has released its audited consolidated financial statements and accompanying management's discussion and analysis for the fiscal year ended July 31, 2007, copies of which are available on SEDAR.
About Tyler Resources Inc.
Tyler Resources Inc. is a well-funded Canadian junior exploration company focused on base and precious metals exploration in Mexico. Tyler's primary project is the Bahuerachi property, which hosts Mexico's fourth largest mineralized porphyry deposit. As part of its ongoing drill program, the Company has now drilled in excess of 52,000 meters of combined diamond and reverse circulation drilling since 2004, making it one of the most active Canadian junior exploration companies operating in Mexico. For more information, visit www.tylerresources.com.
Cautionary language: Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates", will and similar expressions, are forward-looking information that represents management of Tyler's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Tyler. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Tyler's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Tyler's filings with the Canadian securities authorities. Accordingly, holders of Tyler shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Tyler disclaims any responsibility to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Tyler Resources Board of Directors Unanimously Recommends Shareholders Reject Unsolicited Offer by Mercator Minerals Ltd.
CALGARY, ALBERTA--(Marketwire - Nov. 12, 2007) - Tyler Resources Inc. (TSX VENTURE:TYS) ("Tyler" or the "Company") understands that on November 9, 2007 Mercator Minerals Ltd. ("Mercator") formally commenced an unsolicited offer to purchase all of the issued and outstanding common shares of Tyler on the basis of 0.113 of a Mercator common share for each Tyler common share.
Based on the closing price of Mercator common shares on the Toronto Stock Exchange on November 9, 2007, the unsolicited Mercator offer is equivalent to $1.09 per Tyler common share.
Tyler's Board of Directors (the "Board"), based on the advice and recommendations of its Special Committee of independent directors, unanimously recommends that Tyler shareholders REJECT the Mercator unsolicited takeover bid and NOT tender their shares to the offer. The Board has based its recommendation on a number of factors, including that:
- The Mercator offer significantly undervalues the Bahuerachi deposit and is a clear attempt to acquire Tyler before Tyler shareholders can realize the full value for their shares as the Company increases the resource base at Bahuerachi and moves towards the higher valuation typically seen for companies as they advance closer to feasibility, development and production;
- Tyler has been approached by, and has initiated contact with, other parties who have expressed an interest in pursuing potential alternative transactions that may provide superior value to Tyler shareholders;
- The terms of the offer are substantially lower than an offer Mercator made to the Company on October 5, 2007, which contemplated an offer of $1.25 for each Tyler common share implying an exchange ratio of 0.1437 on October 5, 2007, and which Tyler viewed as inadequate and allowed to expire on October 10, 2007.
Following further review, consideration and evaluation of the offer in consultation with its legal and financial advisors, Tyler's Board of Directors will issue and file with Canadian securities commissions a Directors' Circular that will contain important information. Shareholders are urged to read the Directors' Circular in its entirety once it is made available, including the Board of Directors' formal recommendation regarding the offer.
Tyler's Special Committee of independent directors has engaged CIBC World Markets as financial advisor and Burnet, Duckworth & Palmer LLP as legal counsel. The Special Committee, with the assistance of its financial and legal advisors, is considering all possible strategic alternatives available to Tyler to maximize shareholder value including any competing offers it may receive.
Company Statements
Alan Craven, Chairman of the Special Committee said, "We believe Mercator's previous offer significantly undervalued Tyler. This new unsolicited offer is worse. Tyler shareholders own 100% of a world-class asset in the Bahuerachi deposit and emerging mineral district. Mercator's opportunistic offer is inadequate as it fails to recognize Tyler's future growth profile based on the remaining deposit expansion potential and strong discovery potential at Bahuerachi."
Commented Jean-Pierre Jutras, Director, President and CEO of Tyler, "Tyler has delivered a 525 million tonne mineral deposit (measured and indicated resource) from the grassroots stage within three years of commencement of drilling. Based on this track record and management's strong belief that there remains significant upside both at the deposit and regional scale to materially expand on the current resource, it is clear to us that the Mercator offer falls significantly short of providing fair value to our shareholders and seeks to deprive them of significant upside potential. Results from ongoing drilling and an update of the mineral resource at Bahuerachi at year end will be the first steps in demonstrating Bahuerachi's true potential, and an offer at this time will prevent Tyler from delivering the results of its stated work programs and pre-empt Tyler's shareholders from realizing the higher valuation associated with an increased resource base and progress towards production."
"Tyler's value is recognized even by Mercator's own financial advisor, Jennings Capital Inc., which issued a research report on October 10, 2007 establishing a 12-month target price for Tyler of $2.50 per share, implying a potential gain of 121% based on Tyler's closing price on November 9, 2007. In contrast, in a separate October 18, 2007 research report Jennings established a 12-month target price of $11.50 for Mercator, implying a potential gain of just 19% based on Mercator's closing price of $9.68 on November 9, 2007," added Mr. Jutras.
Bahuerachi Property
Tyler's Bahuerachi property is becoming recognized as a world-class base and precious metals district with strong economic potential. Tyler has filed with the applicable securities commissions a detailed National Instrument 43-101 compliant Preliminary Economic Assessment Report or scoping study dated effective November 8, 2007. The study outlined that the Bahuerachi deposit, as it is known today in its early phases of work, could generate a pre-tax internal rate of return of 53%, a preproduction capital payback of less than two years and a net present value of US$1.9 billion at an 8% discount rate based on three year historical average metal prices, which are substantially lower than current prices. The scoping study suggests that Bahuerachi could support an initial mine life of 12 years based on an analysis of only 251 million tonnes, or 41%, of the measured, indicated and inferred resource tonnage identified in the most recent Bahuerachi resource estimate, in May 2007.
Tyler expects to complete a pre-feasibility study in 2008 that will significantly build on the results of the scoping study. The pre-feasibility study will be based on an updated resource estimate, which will incorporate all new drilling information generated from May to December of 2007. This new drilling information, including significant mineralization intercepts in five drill holes disclosed by Tyler on June 13, 2007, six drill holes disclosed by Tyler on August 2, 2007, and all current and ongoing drilling, was not incorporated into the May 2007 resource estimate and therefore the subsequent scoping study.
The Independent Qualified Persons who authored the scoping study were Mr. Herb Welhener, Vice President, Independent Mining Consultants, Inc. of Tucson, Arizona, and Joseph M. Keane, P. Eng., Principal Metallurgical Engineer of K.D. Engineering Company of Tucson, Arizona. Both are Qualified Persons, as defined by Canada's National Instrument 43-101 for the disclosure of mineral projects. As required by National Instrument 43-101, Tyler cautions that the scoping study is a preliminary assessment and is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. The scoping study is available for review on SEDAR and on Tyler's website.
The May 2007 resource estimate for the Bahuerachi deposit is filed on SEDAR. Keith McCandlish, P, Geol., is responsible for this resource estimate and is an Independent Qualified Person as defined by NI 43-101. A summary of the May 2007 resource estimate is included in the table below.
Bahuerachi Main Zone Deposit at a 0.2% copper grade cutoff
----------------------------------------------------------------------------Resource CuEq CuZnEq Category Grade Grade classification Tonnes Cu(%) Mo(%) Au(g/t) Ag(g/t) Zn(%) (%)(1) (%)(1)----------------------------------------------------------------------------Measured 92,398,260 0.47 0.008 0.05 3.86 0.44 0.61 0.84----------------------------------------------------------------------------Indicated 432,111,525 0.38 0.008 0.03 4.07 0.57 0.52 0.82----------------------------------------------------------------------------Measured + Indicated 524,509,785 0.40 0.008 0.03 4.03 0.55 0.54 0.83----------------------------------------------------------------------------Inferred 80,174,744 0.38 0.007 0.02 3.11 0.45 0.49 0.74----------------------------------------------------------------------------
(1) For the purpose of the final report as delivered by AGL, CuEq and CuZnEq grades based on revised metal price assumptions as follow: Copper US$1.50/lb, Molybdenum US$15.00/lb, Gold US$550/Oz, Silver US$10.00/Oz and Zinc US$0.80/lb. Copper equivalents, metallurgical recoveries and net smelter returns are assumed to be 100%.
Tyler also announces that it has released its audited consolidated financial statements and accompanying management's discussion and analysis for the fiscal year ended July 31, 2007, copies of which are available on SEDAR.
About Tyler Resources Inc.
Tyler Resources Inc. is a well-funded Canadian junior exploration company focused on base and precious metals exploration in Mexico. Tyler's primary project is the Bahuerachi property, which hosts Mexico's fourth largest mineralized porphyry deposit. As part of its ongoing drill program, the Company has now drilled in excess of 52,000 meters of combined diamond and reverse circulation drilling since 2004, making it one of the most active Canadian junior exploration companies operating in Mexico. For more information, visit www.tylerresources.com.
Cautionary language: Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates", will and similar expressions, are forward-looking information that represents management of Tyler's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Tyler. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Tyler's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Tyler's filings with the Canadian securities authorities. Accordingly, holders of Tyler shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Tyler disclaims any responsibility to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
PELANGIO MINES INC
Pelangio Announces Results From its First Drilling Program at Obuasi Property in Ghana
11/12/2007
TORONTO, ONTARIO, Nov 12, 2007 (MARKET WIRE via COMTEX News Network) --
Pelangio Mines Inc. (TSX: PLG) ("Pelangio" or the "Company") is pleased to report the results from its first drilling program at the Obuasi property in Ghana. Pelangio completed 19 core holes totaling 2,038 metres testing four gold targets. The best results were obtained at the Kusa Centracor target where two drill holes intersected 1.29 g/t over 12 metres and 1.08 g/t over 12 metres, respectively. On the Gyabunsu trend, a subsidiary trend of the Obuasi mine, one hole intersected 1.10 g/t over 13.95 metres.
Pelangio controls three early-stage gold exploration concessions totaling 290 sq. kilometres on strike and adjacent to the AngloGold Ashanti's world-class Obuasi gold mine, in Ghana, West Africa. The Company's surface geological program conducted in 2006 and early 2007 led to the identification of four initial gold targets, which were drill tested this summer. At this time, the Company is working on five other target areas, including the extension of the Obuasi mine onto Pelangio's ground. Pelangio just completed a detailed airborne geophysical survey covering both the Obuasi mine and Pelangio's ground and will proceed with field work to define additional drill targets for 2008.
Warren Bates, Vice President Exploration for Pelangio remarked: "The results obtained at the Kusa Centracor and New Trench 1 areas are encouraging and will require additional follow up work in early 2008. This drilling program was our initial pass and we will continue our surface work to develop new quality targets. Currently, we are investigating five new target areas. Furthermore, with the data from the airborne program now ready, we will focus our efforts along the Obuasi mine extension and define new drill targets for 2008. The Obuasi property is still at an early stage of exploration and we have only begun to scratch the surface."
Further details on the drilling program are described below.
Abomposo Target
Pelangio drilled seven holes totaling 753 metres to test the extension of Trench 15, which had returned the best trench results to date with 1.93 g/t over 17 metres. Additional trenching along a strike length of 475 metres had defined a strongly anomalous zone of 100 metres with values ranging from 1.05 g/t to 2.43 g/t over widths of 2 to 11 metres.
The best results were encountered in holes PG07-AB-3 with 9.84 g/t gold over 1 metre (11 metres from surface), and PG07-AB-4 with 4.23 g/t over 1 metre (10 metres from surface). These holes are located 25 metres and 50 metres west of Trench 15, respectively. Visible gold was noted in two other holes PG07-AB-1 and PG07-AB-6 but did not return any significant values. The Company will conduct some re-assaying on these samples.
The Abomposo gold mineralization is hosted by quartz carbonate veins in sheared argillite. The zone strikes at an azimuth of 110 degrees and dips steeply to the north-northeast.
Kusa Centracor Target
The Kusa Centracor gold target area is located 6.3 kilometres east of the Abomposo Trench 15 area. The anomalous gold zone was defined over a strike length of 250 metres by trenching and past drilling by Centracor Mining Ltd in 1993 (total of seven holes). Six drill holes were completed over a strike length of 125 metres, within 120 metres west of the past drilling area.
The mineralized zone lies within a sheared silicified and pyritic felsic intrusive with 1-5% pyrite in contact with graphitic phyllites to the south. The best gold intercepts were 1.08 g/t over 12 metres in hole PG07-KU-1 and 1.29 g/t over 12 metres in hole PG07-KU-4, both within the intrusive rocks and separated by 80 meters.
Holes PG07KU-4 and PGKU07-5 were stopped before they reached the contact with the graphitic phyllites and might have missed some mineralized zones. The zone remains open to the west and east.
Gyabunsu Mampawhe Area
New Trench 1 Target
Pelangio completed three drill holes at the New Trench 1 area located on the Gyabunsu trend, approximately 9.5 kilometres southwest of the Kusa Centracor area.
The holes, drilled on 25 meters intervals, tested the anomalous trench results obtained in New Trench1 and Randgold Trench 10. Hole PG07NT1-3 intersected 1.10 g/t over 13.95 metres, just below three metres of overburden. Gold values are associated with silicified and veined Tarkwaian sandstones above the Birimian argillites. The orientation of mineralization remains uncertain.
This drill hole intercept is encouraging as mineralization was found near surface where there was no soil anomaly. Further work is warranted and will include additional trenching and drilling program.
New Trench 3 Target
New Trench 3 target is approximately 1.3 kilometres southwest of the New Trench 1. Two drill holes targeted anomalous gold values encountered in four trenches. One gold value of 5.85 g/t over 1 metre was obtained in hole PG07NT3-2. No further work is planned in this area.
Airborne Survey & Current Exploration Activities
The airborne survey covering the Obuasi mine trend and its extension onto Pelangio's property is now completed. Preliminary plots are confirming that the major structures of AngloGold Ashanti's Obuasi mine continue into the northwest corner of Pelangio's Kyereboso 2 concession. The results will be a focus for targeting drill holes in 2008.
On the extension of the Obuasi mine trend, within the area of the airborne geophysical survey, Pelangio is conducting a prospecting and trenching program to follow up on the Mobile Metal Ion soil geochemistry program completed this summer.
Following from the detailed soil surveys carried out earlier this year, prospecting and trenching is underway at a further four target areas: Brofoyeduru South and East, Dinkyie and Gyabunsu.
Maps and more details on the Obuasi property drill results are posted on the Company's website: www.pelangio.com/s/Obuasi.asp?ReportID=174353.
Obuasi Project - Highlights of Drill Results
---------------------------------------------------------------------------
Hole Depth Dip From To Width Au Grade
Number (m) (m) (m) (m) (g/t)
---------------------------------------------------------------------------
Abomposo
---------------------------------------------------------------------------
PG07AB-1 100.26 -45 92.42 92.43 0.01 Visible Gold
---------------------------------------------------------------------------
PG07AB-2 100.58 -50 No significant results
---------------------------------------------------------------------------
PG07AB-3 100.58 -50 13 18 5 2.14
-----------------------------------------------
Inc. 16 17 1 9.84
---------------------------------------------------------------------------
PG07AB-4 100.58 -55 14 20 6 1.09
-----------------------------------------------
Inc. 14 15 1 4.23
---------------------------------------------------------------------------
PG07AB-5 99.67 -45 No significant results
---------------------------------------------------------------------------
PG07AB-6 100.58 -55 36 37 1 1.08
-----------------------------------------------
71.67 71.69 0.02 Visible Gold
---------------------------------------------------------------------------
PG07AB-7 150.88 -45 No significant results
---------------------------------------------------------------------------
Kusa Centracor
---------------------------------------------------------------------------
PG07KU-1 150.88 -45 15 56 41 0.54
-----------------------------------------------
Inc. 41 53 12 1.08
---------------------------------------------------------------------------
PG07KU-2 150.88 -45 32 34 2 1.15
-----------------------------------------------
50 61 11 0.55
---------------------------------------------------------------------------
PG07KU-3 100.89 -50 51 66 15 0.49
---------------------------------------------------------------------------
PG07KU-4 99.36 -50 45 57 12 1.29
---------------------------------------------------------------------------
PG07KU-5 100.58 -55 85 95 10 0.44
---------------------------------------------------------------------------
PG07KU-6 150.27 -45 96 101 5 0.66
---------------------------------------------------------------------------
New trench 1
---------------------------------------------------------------------------
PG07NT1-1 30.98 -45 16 28 12 0.29
---------------------------------------------------------------------------
PG07NT1-2 100.28 -45 13 23 10 0.23
---------------------------------------------------------------------------
PG07NT1-3 99.67 -45 3.05 17 13.95 1.10
---------------------------------------------------------------------------
PG07NT1-4 100.58 -45 8 9 1 1.01
-----------------------------------------------
41 47 6 0.48
-----------------------------------------------
53 63 10 0.38
-----------------------------------------------
80 84 4 0.47
---------------------------------------------------------------------------
New trench 3
---------------------------------------------------------------------------
PG07NT3-1 100.58 -45 No significant results
---------------------------------------------------------------------------
PG07NT3-2 100.58 -45 119 120 1 5.85
---------------------------------------------------------------------------
Note: True width is estimated to be 65 to 75% of the drilled length.
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this press release were drilled using HQ (63.5 mm) and NQ (47.6 mm) sized core. All logging and sampling was conducted by contractors working for Pelangio.
The core was logged and then marked up for sampling using standard lengths of one metre. The core was then split into two equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Pelangio Exploration compound in Brofoyeduru, Ghana. The other half was sampled, placed into sealed bags and stored at the site until being shipped to Transworld Labs located in Tarkwa, Ghana. At the Transworld laboratory facility in Tarkwa, the core was dried and crushed, and a 150 gram pulp prepared from the coarse crushed material. Routine gold analysis was conducted by Transworld, using a 50 gram charge, fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, and duplicates to the sample stream by Pelangio at the rate of one per every 50 samples. In addition, Transworld inserted one preparation blank and certified reference material for every 20 samples and one duplicate analysis every 20 samples.
The Pelangio exploration program at the Obuasi property is being managed by Mr. Chris Pegg, P. Geo., a Qualified Person within the meaning of National Instrument 43-101. Mr. Pegg has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information.
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 49.5% 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.
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" 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 statements and information include statements regarding our exploration plans and exploration results with respect to our Obuasi gold property, the estimation of mineral resources, the sale of the Detour Lake Property and the issuance of shares in connection with the sale and are subject to such forward-looking risks, uncertainties and other factors which may cause our 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 statement or information. Such risks include gold price volatility, change in equity markets, political developments in Ghana, the uncertainties involved in interpreting trenching and channel sampling results and other geological data, increase in costs and exchange rate fluctuations, failure to satisfy the conditions of closing and other risks involved in the gold exploration and development industry. See our management information circular dated September 25, 2006, our 43-101Technical Report dated September 21, 2006, our annual information form and our quarterly and annual management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or 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 Pelangio. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statement and information herein are qualified by this cautionary statement.
Contacts:
Pelangio Mines Inc.
Ingrid Hibbard
President & CEO
(905) 875-3828 or Toll Free: 1-877-746-1632
(905) 875-3829 (FAX)
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 Announces Results From its First Drilling Program at Obuasi Property in Ghana
11/12/2007
TORONTO, ONTARIO, Nov 12, 2007 (MARKET WIRE via COMTEX News Network) --
Pelangio Mines Inc. (TSX: PLG) ("Pelangio" or the "Company") is pleased to report the results from its first drilling program at the Obuasi property in Ghana. Pelangio completed 19 core holes totaling 2,038 metres testing four gold targets. The best results were obtained at the Kusa Centracor target where two drill holes intersected 1.29 g/t over 12 metres and 1.08 g/t over 12 metres, respectively. On the Gyabunsu trend, a subsidiary trend of the Obuasi mine, one hole intersected 1.10 g/t over 13.95 metres.
Pelangio controls three early-stage gold exploration concessions totaling 290 sq. kilometres on strike and adjacent to the AngloGold Ashanti's world-class Obuasi gold mine, in Ghana, West Africa. The Company's surface geological program conducted in 2006 and early 2007 led to the identification of four initial gold targets, which were drill tested this summer. At this time, the Company is working on five other target areas, including the extension of the Obuasi mine onto Pelangio's ground. Pelangio just completed a detailed airborne geophysical survey covering both the Obuasi mine and Pelangio's ground and will proceed with field work to define additional drill targets for 2008.
Warren Bates, Vice President Exploration for Pelangio remarked: "The results obtained at the Kusa Centracor and New Trench 1 areas are encouraging and will require additional follow up work in early 2008. This drilling program was our initial pass and we will continue our surface work to develop new quality targets. Currently, we are investigating five new target areas. Furthermore, with the data from the airborne program now ready, we will focus our efforts along the Obuasi mine extension and define new drill targets for 2008. The Obuasi property is still at an early stage of exploration and we have only begun to scratch the surface."
Further details on the drilling program are described below.
Abomposo Target
Pelangio drilled seven holes totaling 753 metres to test the extension of Trench 15, which had returned the best trench results to date with 1.93 g/t over 17 metres. Additional trenching along a strike length of 475 metres had defined a strongly anomalous zone of 100 metres with values ranging from 1.05 g/t to 2.43 g/t over widths of 2 to 11 metres.
The best results were encountered in holes PG07-AB-3 with 9.84 g/t gold over 1 metre (11 metres from surface), and PG07-AB-4 with 4.23 g/t over 1 metre (10 metres from surface). These holes are located 25 metres and 50 metres west of Trench 15, respectively. Visible gold was noted in two other holes PG07-AB-1 and PG07-AB-6 but did not return any significant values. The Company will conduct some re-assaying on these samples.
The Abomposo gold mineralization is hosted by quartz carbonate veins in sheared argillite. The zone strikes at an azimuth of 110 degrees and dips steeply to the north-northeast.
Kusa Centracor Target
The Kusa Centracor gold target area is located 6.3 kilometres east of the Abomposo Trench 15 area. The anomalous gold zone was defined over a strike length of 250 metres by trenching and past drilling by Centracor Mining Ltd in 1993 (total of seven holes). Six drill holes were completed over a strike length of 125 metres, within 120 metres west of the past drilling area.
The mineralized zone lies within a sheared silicified and pyritic felsic intrusive with 1-5% pyrite in contact with graphitic phyllites to the south. The best gold intercepts were 1.08 g/t over 12 metres in hole PG07-KU-1 and 1.29 g/t over 12 metres in hole PG07-KU-4, both within the intrusive rocks and separated by 80 meters.
Holes PG07KU-4 and PGKU07-5 were stopped before they reached the contact with the graphitic phyllites and might have missed some mineralized zones. The zone remains open to the west and east.
Gyabunsu Mampawhe Area
New Trench 1 Target
Pelangio completed three drill holes at the New Trench 1 area located on the Gyabunsu trend, approximately 9.5 kilometres southwest of the Kusa Centracor area.
The holes, drilled on 25 meters intervals, tested the anomalous trench results obtained in New Trench1 and Randgold Trench 10. Hole PG07NT1-3 intersected 1.10 g/t over 13.95 metres, just below three metres of overburden. Gold values are associated with silicified and veined Tarkwaian sandstones above the Birimian argillites. The orientation of mineralization remains uncertain.
This drill hole intercept is encouraging as mineralization was found near surface where there was no soil anomaly. Further work is warranted and will include additional trenching and drilling program.
New Trench 3 Target
New Trench 3 target is approximately 1.3 kilometres southwest of the New Trench 1. Two drill holes targeted anomalous gold values encountered in four trenches. One gold value of 5.85 g/t over 1 metre was obtained in hole PG07NT3-2. No further work is planned in this area.
Airborne Survey & Current Exploration Activities
The airborne survey covering the Obuasi mine trend and its extension onto Pelangio's property is now completed. Preliminary plots are confirming that the major structures of AngloGold Ashanti's Obuasi mine continue into the northwest corner of Pelangio's Kyereboso 2 concession. The results will be a focus for targeting drill holes in 2008.
On the extension of the Obuasi mine trend, within the area of the airborne geophysical survey, Pelangio is conducting a prospecting and trenching program to follow up on the Mobile Metal Ion soil geochemistry program completed this summer.
Following from the detailed soil surveys carried out earlier this year, prospecting and trenching is underway at a further four target areas: Brofoyeduru South and East, Dinkyie and Gyabunsu.
Maps and more details on the Obuasi property drill results are posted on the Company's website: www.pelangio.com/s/Obuasi.asp?ReportID=174353.
Obuasi Project - Highlights of Drill Results
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Hole Depth Dip From To Width Au Grade
Number (m) (m) (m) (m) (g/t)
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Abomposo
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PG07AB-1 100.26 -45 92.42 92.43 0.01 Visible Gold
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PG07AB-2 100.58 -50 No significant results
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PG07AB-3 100.58 -50 13 18 5 2.14
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Inc. 16 17 1 9.84
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PG07AB-4 100.58 -55 14 20 6 1.09
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Inc. 14 15 1 4.23
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PG07AB-5 99.67 -45 No significant results
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PG07AB-6 100.58 -55 36 37 1 1.08
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71.67 71.69 0.02 Visible Gold
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PG07AB-7 150.88 -45 No significant results
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Kusa Centracor
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PG07KU-1 150.88 -45 15 56 41 0.54
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Inc. 41 53 12 1.08
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PG07KU-2 150.88 -45 32 34 2 1.15
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50 61 11 0.55
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PG07KU-3 100.89 -50 51 66 15 0.49
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PG07KU-4 99.36 -50 45 57 12 1.29
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PG07KU-5 100.58 -55 85 95 10 0.44
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PG07KU-6 150.27 -45 96 101 5 0.66
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New trench 1
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PG07NT1-1 30.98 -45 16 28 12 0.29
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PG07NT1-2 100.28 -45 13 23 10 0.23
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PG07NT1-3 99.67 -45 3.05 17 13.95 1.10
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PG07NT1-4 100.58 -45 8 9 1 1.01
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41 47 6 0.48
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53 63 10 0.38
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80 84 4 0.47
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New trench 3
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PG07NT3-1 100.58 -45 No significant results
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PG07NT3-2 100.58 -45 119 120 1 5.85
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Note: True width is estimated to be 65 to 75% of the drilled length.
Quality Assurance/Quality Control and Qualified Person
The drill holes reported in this press release were drilled using HQ (63.5 mm) and NQ (47.6 mm) sized core. All logging and sampling was conducted by contractors working for Pelangio.
The core was logged and then marked up for sampling using standard lengths of one metre. The core was then split into two equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Pelangio Exploration compound in Brofoyeduru, Ghana. The other half was sampled, placed into sealed bags and stored at the site until being shipped to Transworld Labs located in Tarkwa, Ghana. At the Transworld laboratory facility in Tarkwa, the core was dried and crushed, and a 150 gram pulp prepared from the coarse crushed material. Routine gold analysis was conducted by Transworld, using a 50 gram charge, fire assaying with atomic absorption finish. Quality control procedures included the systematic insertion of blanks, and duplicates to the sample stream by Pelangio at the rate of one per every 50 samples. In addition, Transworld inserted one preparation blank and certified reference material for every 20 samples and one duplicate analysis every 20 samples.
The Pelangio exploration program at the Obuasi property is being managed by Mr. Chris Pegg, P. Geo., a Qualified Person within the meaning of National Instrument 43-101. Mr. Pegg has verified and approved the data disclosed in this release, including the sampling, analytical and test data underlying the information.
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 49.5% 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.
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" 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 statements and information include statements regarding our exploration plans and exploration results with respect to our Obuasi gold property, the estimation of mineral resources, the sale of the Detour Lake Property and the issuance of shares in connection with the sale and are subject to such forward-looking risks, uncertainties and other factors which may cause our 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 statement or information. Such risks include gold price volatility, change in equity markets, political developments in Ghana, the uncertainties involved in interpreting trenching and channel sampling results and other geological data, increase in costs and exchange rate fluctuations, failure to satisfy the conditions of closing and other risks involved in the gold exploration and development industry. See our management information circular dated September 25, 2006, our 43-101Technical Report dated September 21, 2006, our annual information form and our quarterly and annual management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or 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 Pelangio. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statement and information herein are qualified by this cautionary statement.
Contacts:
Pelangio Mines Inc.
Ingrid Hibbard
President & CEO
(905) 875-3828 or Toll Free: 1-877-746-1632
(905) 875-3829 (FAX)
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.
Nov 12, 2007 09:18 ET
Sparton Acquires Rights to Test and Acquire High Uranium Coal Deposit and Germanium Production Operations in Yunnan China
INITIAL SAMPLING INDICATES ASH CONTENT OF 253-804 PPM URANIUM (0.03-0.09% U3O8)
NEW CHINA MINERAL FOREIGN INVESTMENT POLICY FAVORABLE TO SPARTON
W. BRIAN CARTER, JOINS BOARD OF DIRECTORS
TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") reported today that it has signed an agreement to evaluate the extraction of uranium from waste material produced from a germanium production plant in the Lincang Area of Yunnan Province, PRC. The Lincang Area hosts at least two large coal basins (Bangmai and Mengwang) which contain highly anomalous amounts of uranium and germanium ("Ge"). Currently these support seven germanium producing operations which are producing large amounts of uranium bearing ash and waste. Historically uranium was produced in the 1970's and early 1980's from coal ash from these deposits but all production ceased with the collapse of uranium markets about 1985. Germanium is an industrial metal currently valued at approximately $USD1250 per kg., which is widely used in many electronics applications such as semiconductors and transistors, as well as catalysts, optical devices, and various medical applications.
Under the terms of the Memorandum of Understanding with the Hua Jun Coal Mine Co. Ltd. ("HJC") Sparton and its China partners ARCN, the Remote Sensing and Research Branch of the China National Nuclear Corporation, and Beijing John Hanseng Investment Consulting Co. Ltd. (collectively "Sparton") will do uranium analyses and leach tests on the coal and various types of waste material produced from burning of coal produced on the 2.7 sq. km Mining Licence owned by HJC, and if results are positive Sparton can purchase up to an 85% share interest in the HJC company and all of its assets including the coal mines and germanium production facilities, based on a negotiated value.
URANIUM CONTENT OF HJC COAL ASH WASTE
Previous sampling of coal ash waste material by Sparton's team indicated that bottom ash and fly ash samples taken from the area contain between 253 and 804 ppm uranium which corresponds to grades of about 0.03% to 0.09% U3O8, or roughly 0.66 to 2.0 pounds of U3O8 per metric tonne. The germanium content of this ash was not determined in these samples but it is known that the lower limit for germanium recovery from coal in the area is about 100 ppm Ge. During a site visit during the week of November 5, 2007 Sparton's staff determined that all waste material from the operations are anomalously radioactive and representative samples were taken from all the various types of waste for additional analyses and uranium leach tests.
HJC OPERATIONS
HJC has been operating three underground coal mines on its Mining Licence for approximately 5 years. The mines are developed using inclined shaft access and have a total capacity currently of about 250 tonnes per day. They include the #306 Wenhua Mine, the #306 Chuanzhong Mine and the #307 Defu Mine. The #306 mines are joined underground and exploit uranium and germanium bearing coal solely for use in germanium extraction by coal burning and flue dust recovery. The Defu Mine coal contains sections that contain less germanium and also produces thermal coal for local sales. The deepest current workings are approximately 60 metres below surface. Operating history indicates that there have been no serious accidents since operations started in 2002, and that the mines are free of methane gas and dry. Both manual and mechanical methods are used for mining the coal and the seams average about 2.5 metres in thickness. Ash content of the coal varies from 40-50%.
Mine technical staff from HJC reported that the two #306 Mines contain a "historical resource" (Non 43-101 compliant) using Chinese Reporting Standards, of 92.34 tonnes of Ge contained in 521,600 tonnes of coal. An additional 500,000 tonnes of mixed domestic and high Ge coal is reported for the Defu Mine from the same data base. All of this information is based on results of approximately 18 drill holes completed within small 0.6 sq km area with in the 2.5 sq. km Mining Licence area held by HJC. No data are available for the uranium content of the coal and ash except for the results from Sparton's limited sampling done early in 2007 which are reported above.
HJC is currently producing 10kg per day of high germanium flue dust valued at 5300 RMB per kg ($USD700 / kg) from the burning about 100 tonnes of coal. New recovery bins are currently under construction which will allow an increase in production capacity up to the limit of currently available coal production (250 tonnes per day). Profit margin after taxes and all costs is reported to be 40 % of revenue.
Sparton staff will be reviewing the detailed technical and financial information for these data as part of the due diligence procedures for this project and will conduct a comprehensive underground sampling program of the coal seams, in parallel with the detailed sampling of the waste ash material sites in the HJC area. These are estimated to contain approximately 75,000 tonnes of ash and clinker. Leaching tests for uranium recovery will be conducted on the various materials as well. The initial analyses indicate a low lime content for the waste material.
NEW CHINESE GOVERNMENT FOREIGN INVESTMENT POLICIES
Under the new recently announced Chinese Investment Directory for Foreign Investment which will come into effect on December 1, 2007, the "comprehensive use of coal ash for extraction of valuable minerals and other uses" (Paragraph 23.2) has been put into the "Encouraged" category . Further, the use of new technological applications in the treatment of various forms of mine waste and tailings for recovery of valuable minerals and environmental restoration of waste sites is also now in the "Encouraged" category. Both of these new policies are highly positive for the ongoing programs of Sparton and its partners in its secondary uranium recovery and waste cleanup programs in China.
Elsewhere waste ash sampling programs are underway in Hungary and southern Africa, and the testing program continues on the Xiaolongtan waste pile material in Yunnan PRC. New results will be reported as they become available.
NEW DIRECTOR JOINS SPARTON BOARD
The Company is pleased to announce that W. Brian Carter, B.A,Sc., CA, CFA has joined Sparton's Board of Directors. Mr. Carter is a senior management investment professional with over 40 years experience in the investment industry, specializing in the resource sector. Following an early career as a mining engineer he entered the financial services industry and has held senior management and research positions with a number of major financial management organizations including Clarkson Gordon and Company (now Ernst and Young), Loewen, Onaadtje, McCutcheon & Company Ltd. ("LOM"), Stuart Investment Management Ltd., Jones Heward Investment Management Inc, and Legg Mason Canada Inc.
At LOM he was Head of Research and Portfolio Strategy, leading a team of analysts serving an international client base of financial institutions, and involved in that organization's Corporate Finance Department specializing in transactions in the precious metals and resource industry.
Mr. Carter is currently Senior Portfolio Manager for Sceptre Investment Counsel Ltd.
Sparton's other directors welcome him to the board and look forward to benefiting from his experience as the Company moves forward with its various programs. Mr. Carter has been granted 150,000 options to purchase Sparton common shares of at a price of $0.36 for a period of five years commencing on today's date.
Sparton's international exploration and evaluation programs are being carried out under the direct supervision of A. Lee Barker, P. Eng., P Geol., the Company's President and CEO who is a Qualified Person under National Instrument 43-101.
The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy
Sparton Acquires Rights to Test and Acquire High Uranium Coal Deposit and Germanium Production Operations in Yunnan China
INITIAL SAMPLING INDICATES ASH CONTENT OF 253-804 PPM URANIUM (0.03-0.09% U3O8)
NEW CHINA MINERAL FOREIGN INVESTMENT POLICY FAVORABLE TO SPARTON
W. BRIAN CARTER, JOINS BOARD OF DIRECTORS
TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") reported today that it has signed an agreement to evaluate the extraction of uranium from waste material produced from a germanium production plant in the Lincang Area of Yunnan Province, PRC. The Lincang Area hosts at least two large coal basins (Bangmai and Mengwang) which contain highly anomalous amounts of uranium and germanium ("Ge"). Currently these support seven germanium producing operations which are producing large amounts of uranium bearing ash and waste. Historically uranium was produced in the 1970's and early 1980's from coal ash from these deposits but all production ceased with the collapse of uranium markets about 1985. Germanium is an industrial metal currently valued at approximately $USD1250 per kg., which is widely used in many electronics applications such as semiconductors and transistors, as well as catalysts, optical devices, and various medical applications.
Under the terms of the Memorandum of Understanding with the Hua Jun Coal Mine Co. Ltd. ("HJC") Sparton and its China partners ARCN, the Remote Sensing and Research Branch of the China National Nuclear Corporation, and Beijing John Hanseng Investment Consulting Co. Ltd. (collectively "Sparton") will do uranium analyses and leach tests on the coal and various types of waste material produced from burning of coal produced on the 2.7 sq. km Mining Licence owned by HJC, and if results are positive Sparton can purchase up to an 85% share interest in the HJC company and all of its assets including the coal mines and germanium production facilities, based on a negotiated value.
URANIUM CONTENT OF HJC COAL ASH WASTE
Previous sampling of coal ash waste material by Sparton's team indicated that bottom ash and fly ash samples taken from the area contain between 253 and 804 ppm uranium which corresponds to grades of about 0.03% to 0.09% U3O8, or roughly 0.66 to 2.0 pounds of U3O8 per metric tonne. The germanium content of this ash was not determined in these samples but it is known that the lower limit for germanium recovery from coal in the area is about 100 ppm Ge. During a site visit during the week of November 5, 2007 Sparton's staff determined that all waste material from the operations are anomalously radioactive and representative samples were taken from all the various types of waste for additional analyses and uranium leach tests.
HJC OPERATIONS
HJC has been operating three underground coal mines on its Mining Licence for approximately 5 years. The mines are developed using inclined shaft access and have a total capacity currently of about 250 tonnes per day. They include the #306 Wenhua Mine, the #306 Chuanzhong Mine and the #307 Defu Mine. The #306 mines are joined underground and exploit uranium and germanium bearing coal solely for use in germanium extraction by coal burning and flue dust recovery. The Defu Mine coal contains sections that contain less germanium and also produces thermal coal for local sales. The deepest current workings are approximately 60 metres below surface. Operating history indicates that there have been no serious accidents since operations started in 2002, and that the mines are free of methane gas and dry. Both manual and mechanical methods are used for mining the coal and the seams average about 2.5 metres in thickness. Ash content of the coal varies from 40-50%.
Mine technical staff from HJC reported that the two #306 Mines contain a "historical resource" (Non 43-101 compliant) using Chinese Reporting Standards, of 92.34 tonnes of Ge contained in 521,600 tonnes of coal. An additional 500,000 tonnes of mixed domestic and high Ge coal is reported for the Defu Mine from the same data base. All of this information is based on results of approximately 18 drill holes completed within small 0.6 sq km area with in the 2.5 sq. km Mining Licence area held by HJC. No data are available for the uranium content of the coal and ash except for the results from Sparton's limited sampling done early in 2007 which are reported above.
HJC is currently producing 10kg per day of high germanium flue dust valued at 5300 RMB per kg ($USD700 / kg) from the burning about 100 tonnes of coal. New recovery bins are currently under construction which will allow an increase in production capacity up to the limit of currently available coal production (250 tonnes per day). Profit margin after taxes and all costs is reported to be 40 % of revenue.
Sparton staff will be reviewing the detailed technical and financial information for these data as part of the due diligence procedures for this project and will conduct a comprehensive underground sampling program of the coal seams, in parallel with the detailed sampling of the waste ash material sites in the HJC area. These are estimated to contain approximately 75,000 tonnes of ash and clinker. Leaching tests for uranium recovery will be conducted on the various materials as well. The initial analyses indicate a low lime content for the waste material.
NEW CHINESE GOVERNMENT FOREIGN INVESTMENT POLICIES
Under the new recently announced Chinese Investment Directory for Foreign Investment which will come into effect on December 1, 2007, the "comprehensive use of coal ash for extraction of valuable minerals and other uses" (Paragraph 23.2) has been put into the "Encouraged" category . Further, the use of new technological applications in the treatment of various forms of mine waste and tailings for recovery of valuable minerals and environmental restoration of waste sites is also now in the "Encouraged" category. Both of these new policies are highly positive for the ongoing programs of Sparton and its partners in its secondary uranium recovery and waste cleanup programs in China.
Elsewhere waste ash sampling programs are underway in Hungary and southern Africa, and the testing program continues on the Xiaolongtan waste pile material in Yunnan PRC. New results will be reported as they become available.
NEW DIRECTOR JOINS SPARTON BOARD
The Company is pleased to announce that W. Brian Carter, B.A,Sc., CA, CFA has joined Sparton's Board of Directors. Mr. Carter is a senior management investment professional with over 40 years experience in the investment industry, specializing in the resource sector. Following an early career as a mining engineer he entered the financial services industry and has held senior management and research positions with a number of major financial management organizations including Clarkson Gordon and Company (now Ernst and Young), Loewen, Onaadtje, McCutcheon & Company Ltd. ("LOM"), Stuart Investment Management Ltd., Jones Heward Investment Management Inc, and Legg Mason Canada Inc.
At LOM he was Head of Research and Portfolio Strategy, leading a team of analysts serving an international client base of financial institutions, and involved in that organization's Corporate Finance Department specializing in transactions in the precious metals and resource industry.
Mr. Carter is currently Senior Portfolio Manager for Sceptre Investment Counsel Ltd.
Sparton's other directors welcome him to the board and look forward to benefiting from his experience as the Company moves forward with its various programs. Mr. Carter has been granted 150,000 options to purchase Sparton common shares of at a price of $0.36 for a period of five years commencing on today's date.
Sparton's international exploration and evaluation programs are being carried out under the direct supervision of A. Lee Barker, P. Eng., P Geol., the Company's President and CEO who is a Qualified Person under National Instrument 43-101.
The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy
Nov 13, 2007 03:01 ET
Sacre-Coeur Minerals, Ltd. Receives Additional $5.28 Million From Exercise of Warrants and Options
VANCOUVER, BC--(Marketwire - November 13, 2007) - SACRE-COEUR MINERALS, LTD. (TSX VENTURE: SCM) (FRANKFURT: S5N) (the "Company") announces the receipt of CAD $5,281,440 in aggregate proceeds from exercise of 1,766,890 Share Purchase Warrants and 1,336,000 Share Purchase Options during the period from May 24, 2007 to date. Included were Agent Warrants exercisable at CAD $1.50 and One-Half Share Purchase Warrants exercisable at CAD $2.00 which comprised part of the Units, both of which were issued in connection with the Company's $13.2 Million Initial Public Offering of October 2005. The majority of the funds were received during the past three weeks near the respective expiration dates.
According to Irwin Olian, CEO of the Company, "We are grateful to our shareholder base for the continued support evidenced by the recent warrant and option exercises. They have brought in an aggregate of nearly $5.3 million, effectively creating a further financing for the Company. As a result, we now have a strong cash position of $8.4 million, enough to cover budgeted exploration and development costs on our Guyana portfolio for nearly two years at present levels. In addition, a substantial overhang has now been removed from the market for the Company's shares, which may have contributed to volatility in our share price in the past."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 850 square miles of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
Sacre-Coeur Minerals, Ltd. Receives Additional $5.28 Million From Exercise of Warrants and Options
VANCOUVER, BC--(Marketwire - November 13, 2007) - SACRE-COEUR MINERALS, LTD. (TSX VENTURE: SCM) (FRANKFURT: S5N) (the "Company") announces the receipt of CAD $5,281,440 in aggregate proceeds from exercise of 1,766,890 Share Purchase Warrants and 1,336,000 Share Purchase Options during the period from May 24, 2007 to date. Included were Agent Warrants exercisable at CAD $1.50 and One-Half Share Purchase Warrants exercisable at CAD $2.00 which comprised part of the Units, both of which were issued in connection with the Company's $13.2 Million Initial Public Offering of October 2005. The majority of the funds were received during the past three weeks near the respective expiration dates.
According to Irwin Olian, CEO of the Company, "We are grateful to our shareholder base for the continued support evidenced by the recent warrant and option exercises. They have brought in an aggregate of nearly $5.3 million, effectively creating a further financing for the Company. As a result, we now have a strong cash position of $8.4 million, enough to cover budgeted exploration and development costs on our Guyana portfolio for nearly two years at present levels. In addition, a substantial overhang has now been removed from the market for the Company's shares, which may have contributed to volatility in our share price in the past."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 850 square miles of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
Guten Morgen Jungs!
Wie ist eigentlich eure persönliche Einschätzung zur Entwicklung der Edel- und Basismetalle in den nächsten 2-3 Jahren?
Also nehmen wir mal Gold, Silber sowie Nickel, Kupfer, Zink, Molybdän, Wolfram und Uran.
Würde mich doch mal interessieren wie Ihr die zukünftige Entwicklung so in etwa einschätzt?...
Ebenso interessant ist die Frage, ob die Minen und Explorergesellschaften nur ne Mode bzw. Trenderscheinung sind oder nachhaltig Chancen haben auf eine sehr gute Performance?
Würde mich über nen Gedankenaustausch freuen.... thx
Wünsche Euch nen erfolgreichen Handelstag!
ollinho
Wie ist eigentlich eure persönliche Einschätzung zur Entwicklung der Edel- und Basismetalle in den nächsten 2-3 Jahren?
Also nehmen wir mal Gold, Silber sowie Nickel, Kupfer, Zink, Molybdän, Wolfram und Uran.
Würde mich doch mal interessieren wie Ihr die zukünftige Entwicklung so in etwa einschätzt?...
Ebenso interessant ist die Frage, ob die Minen und Explorergesellschaften nur ne Mode bzw. Trenderscheinung sind oder nachhaltig Chancen haben auf eine sehr gute Performance?
Würde mich über nen Gedankenaustausch freuen.... thx
Wünsche Euch nen erfolgreichen Handelstag!
ollinho
Bin auch bullish! Wobei ich denke, dass die Minen und Explorerwerte ebenso konform volatil gehandelt werden. Vergleicht man aber die Entwicklung in vergangenen Rohstoffzyklen dann haben wir noch in keiner Weise Übertreibungen in den Rohstoffwerten gesehen.
Es wirkt sich schon belastend aus, dass durch die Gesamtmarktschwäche das Risikokapital als erstes abgezogen wird. In den kommenden Wochen und Monaten rechne ich aber mit einem Abflauen der Meldungen zur Finanzmarktkrise.
Es wirkt sich schon belastend aus, dass durch die Gesamtmarktschwäche das Risikokapital als erstes abgezogen wird. In den kommenden Wochen und Monaten rechne ich aber mit einem Abflauen der Meldungen zur Finanzmarktkrise.
Hier denke ich eben, dass wir sozusagen automatisch "gehedged" sind, denn jegliche Meldungen bzgl. der Finanzkrise lassen Geld in sichere Häfen wie z.B. Gold fließen, was unseren Minenwerten hilft und hier ein gegenläufiger Effekt (Schwäche bei Aktien, aber höhere Rohstoffbasisnotierungen) zu beobachten ist.
Ich denke generell, dass wir von gesamt leicht steigenden Preisen ausgehen dürfen. Der Anstieg allerdings, das sind sich ohnehin alle einig, wird sehr volatil verlaufen.
Ich hoffe, denke das aber auch wirklich, dass es diejenigen Minen bzw. Explorer geben wird, die überdurchschnittlich davon profitieren werden können und die zumeist sehr hohen Insitu Values auch wirlich "heben" können und somit weit überdurchschnittlich performen werden. Viele dagegen werden in der Versenkung verschwinden und zum Totalverlust führen. Allerdings wird dir schon ein richtiger Long-Wert reichen, um 10 andere Totalverluste auszugleichen ;-)
Die Besten aller Welten: Rohstoffe – Goldgräberstimmung rund um den Globus
Im Zuge der Immobilien- und Kreditkrise befinden sich die Aktienmärkte am Scheideweg. Es gibt klare Verlierer, Marktperformer – und erstaunliche Gewinner: Rohstoffe.
(von Nils Jacobsen, Chefredakteur von Yeald.de und Freier Wirtschaftsjournalist)
Yeald.de (11.10.07) - Es scheint tatsächlich so einfach zu sein: "Die Welt ändert sich nicht so sehr", verkündete Rohstoff-Guru Jim Rogers vor eineinhalb Jahren anlässlich der Einführung seines Market Access Jim Rogers International Commodity Index Funds – einem ETF auf Rogers eigenen Rohstoff-Index RICI.
Was die inzwischen fast 65-jährige Investmentikone damit meint, ist eine Binsenweisheit jedes VWL-Erstsemestlers: "Die Rohstoffhausse basiert ganz einfach auf einem Ungleichgewicht zwischen Angebot und Nachfrage", brachte Rogers das Phänomen schon vor Jahren in seinem Standardwerk "Hot Commodities" auf den Punkt, das er mit dem gut gemeinten Ratschlag "Get ’em before they’re hot" signierte.
>> Allzeithochs allgegenwärtig: Rohstoffe haussieren
Wie gut dieser Ratschlag tatsächlich wahr, beweist ein Blick auf die Rohstoffmärkte, die trotz einiger empfindlicher Korrekturen weiter haussieren. Gleich fünf der wichtigsten an den Terminmärkten gehandelten Rohstoffe verzeichneten in den letzten Monaten neue Allzeithochs und legten seit Anfang des Jahres wie folgt zu:
• Blei: + 130 Prozent
• Zinn: + 40 Prozent
• Platin: + 25 Prozent
• Soja: + 40 Prozent
• Weizen: + 70 Prozent
Auch bei den anderen Industrie- und Edelmetallen gab es seit Jahresbeginn fast durch die Bank Kursgewinne zu bestaunen. Obschon noch immer etwa 15 Prozent unter seinem 27-Jahreshoch, holte auch der Goldpreis seit Januar wieder an Boden auf und notiert im laufenden Jahr um 17 Prozent im positiven Terrain. Kupfer notiert nach einer 33-Prozentrally gar nur noch weniger als zehn Prozent unter den erst im letzten Jahr aufgestellten Allzeithochs.
>> Minenwerte: Kurszuwächse wie Technologie- und Solaraktien
Noch beeindruckendere Zuwächse waren indes bei den Rohstoff fördernden Gesellschaften zu verzeichen. Aktionäre von Minen- und Bergbaukonzernen konnten sich seit Jahresbeginn über diese beachtlichen Kursaufschläge freuen (Prozentsteigerungen in Euro gemessen):
• Xstrata: + 30 Prozent
• Anglo American: + 43 Prozent
• Rio Tinto: + 56 Prozent
• BHP Billiton: + 94 Prozent
• Freeport McMoran: + 105 Prozent
• Companhia Vale Do Rio (CVRD): + 114 Prozent
• Southern Copper: + 132 Prozent
Vor allem nach der Zinssenkung reagierten die Minenwerte mit einem wahren Kursfeuerwerk: Southern Copper, FreePort und Companhia Vale Do Rio verbuchten dabei seit dem Zwischentief am 16. August Kurssteigerungen von 60 bis zu unglaublichen 95 Prozent (CVRD) – und können es somit problemlos mit den Kurszuwächsen der Apples, Research in Motions, Baidus oder Q-Cells’, ErSols und Solons dieser Börsenwelt aufnehmen!
>> Rogers: Zinssenkung befeuert Rohstoffaktien
Für Rohstofflegende Jim Rogers kommt das natürlich nicht überraschend. Die Zinssenkung werde die Rohstoffpreise vor allem im Agrarsektor raketengleich nach oben befördern, erklärte Rogers Ende September gegenüber dem Finanznachrichtensender Bloomberg. "Die Clowns in Washington haben signalisiert, dass sie sich nicht um den Dollar scheren", erklärte der einstige Partner von George Soros in seiner charakteristisch unverblümten Art. Die Zinssenkung sei ein Fehler gewesen, machte Rogers deutlich.
Die Folgen spielten den Rohstoffmärkten in die Karten: Der rapide Dollarverfall ließ die in Dollar geführten Rohstoffnotierungen reflexartig nach oben schnellen. Der Goldpreis verteuerte sich seit der Zinssenkung am 18. September lehrbuchmäßig, zumal im Zuge eines gelockterten Leitzinsniveaus die Inflationsrisiken steigen. Gegen die gilt Gold jedoch bekanntermaßen als "sicherer Hafen". Entsprechend hat sich das edle Metall seit der Senkung des Diskontsatzes am 17. August um 13 Prozent verteuert.
>> Übernahmefantasie beflügelt Minenwerte zusätzlich – Aloca enttäuscht
Dass die Aufschläge bei den Minenwerten umso heftiger ausfielen, ist für Martin Siegel indes nur allzu logisch. "Wir haben hier eine musterhafte Entwicklung: Minenaktien reagieren auf Veränderungen der Edelmetallnotierungen mit Hebel", erklärt der Fondsmanager des PEH Q Goldmines gegenüber der Tageszeitzung "Die Welt".
Als zusätzlicher Treiber für Kursgewinne kommt Aktionären von Bergbauunternehmen ebenso die ungebrochene Übernahmefantasie zupass. Allein im vergangenen Jahr gingen Fusionen und Übernahmen in der Größenordnung von 120 Milliarden Dollar über die Bühne. Im laufenden Jahr hält die Jagd nach Akquisitionszielen an: Erst im Juli schnappte Rio Tinto Alcoa den Alumiumhersteller Alcan weg. Kaufpreis: Stolze 38 Milliarden Dollar.
Dass in der realen Wirtschaft indes im prognostizierten Superzyklus der Rohstoffmärkte auch etwas schief gehen kann, mussten Anleger erst gestern erstaunt feststellen. Alcoa eröffnete turnusmäßig die amerikanische Quartalssaison und enttäuschte dabei: Der Dow Jones-Konzern musste im vergangenen Quartal einen Umsatzrückgang von knapp 250 Millionen Dollar ausweisen und konnte den Nettogewinn lediglich um drei Prozent gegenüber dem Vorjahreszeitraum steigern – vor allem dank Sonderpositionen und Beteiligungsverkäufen. Der Nachsteuergewinn sank dagegen tatsächlich um 14 Prozent – ein Boom liest sich anders.
(Quelle: http://www.yeald.de/Yeald/a/81481/article.html)
Im Zuge der Immobilien- und Kreditkrise befinden sich die Aktienmärkte am Scheideweg. Es gibt klare Verlierer, Marktperformer – und erstaunliche Gewinner: Rohstoffe.
(von Nils Jacobsen, Chefredakteur von Yeald.de und Freier Wirtschaftsjournalist)
Yeald.de (11.10.07) - Es scheint tatsächlich so einfach zu sein: "Die Welt ändert sich nicht so sehr", verkündete Rohstoff-Guru Jim Rogers vor eineinhalb Jahren anlässlich der Einführung seines Market Access Jim Rogers International Commodity Index Funds – einem ETF auf Rogers eigenen Rohstoff-Index RICI.
Was die inzwischen fast 65-jährige Investmentikone damit meint, ist eine Binsenweisheit jedes VWL-Erstsemestlers: "Die Rohstoffhausse basiert ganz einfach auf einem Ungleichgewicht zwischen Angebot und Nachfrage", brachte Rogers das Phänomen schon vor Jahren in seinem Standardwerk "Hot Commodities" auf den Punkt, das er mit dem gut gemeinten Ratschlag "Get ’em before they’re hot" signierte.
>> Allzeithochs allgegenwärtig: Rohstoffe haussieren
Wie gut dieser Ratschlag tatsächlich wahr, beweist ein Blick auf die Rohstoffmärkte, die trotz einiger empfindlicher Korrekturen weiter haussieren. Gleich fünf der wichtigsten an den Terminmärkten gehandelten Rohstoffe verzeichneten in den letzten Monaten neue Allzeithochs und legten seit Anfang des Jahres wie folgt zu:
• Blei: + 130 Prozent
• Zinn: + 40 Prozent
• Platin: + 25 Prozent
• Soja: + 40 Prozent
• Weizen: + 70 Prozent
Auch bei den anderen Industrie- und Edelmetallen gab es seit Jahresbeginn fast durch die Bank Kursgewinne zu bestaunen. Obschon noch immer etwa 15 Prozent unter seinem 27-Jahreshoch, holte auch der Goldpreis seit Januar wieder an Boden auf und notiert im laufenden Jahr um 17 Prozent im positiven Terrain. Kupfer notiert nach einer 33-Prozentrally gar nur noch weniger als zehn Prozent unter den erst im letzten Jahr aufgestellten Allzeithochs.
>> Minenwerte: Kurszuwächse wie Technologie- und Solaraktien
Noch beeindruckendere Zuwächse waren indes bei den Rohstoff fördernden Gesellschaften zu verzeichen. Aktionäre von Minen- und Bergbaukonzernen konnten sich seit Jahresbeginn über diese beachtlichen Kursaufschläge freuen (Prozentsteigerungen in Euro gemessen):
• Xstrata: + 30 Prozent
• Anglo American: + 43 Prozent
• Rio Tinto: + 56 Prozent
• BHP Billiton: + 94 Prozent
• Freeport McMoran: + 105 Prozent
• Companhia Vale Do Rio (CVRD): + 114 Prozent
• Southern Copper: + 132 Prozent
Vor allem nach der Zinssenkung reagierten die Minenwerte mit einem wahren Kursfeuerwerk: Southern Copper, FreePort und Companhia Vale Do Rio verbuchten dabei seit dem Zwischentief am 16. August Kurssteigerungen von 60 bis zu unglaublichen 95 Prozent (CVRD) – und können es somit problemlos mit den Kurszuwächsen der Apples, Research in Motions, Baidus oder Q-Cells’, ErSols und Solons dieser Börsenwelt aufnehmen!
>> Rogers: Zinssenkung befeuert Rohstoffaktien
Für Rohstofflegende Jim Rogers kommt das natürlich nicht überraschend. Die Zinssenkung werde die Rohstoffpreise vor allem im Agrarsektor raketengleich nach oben befördern, erklärte Rogers Ende September gegenüber dem Finanznachrichtensender Bloomberg. "Die Clowns in Washington haben signalisiert, dass sie sich nicht um den Dollar scheren", erklärte der einstige Partner von George Soros in seiner charakteristisch unverblümten Art. Die Zinssenkung sei ein Fehler gewesen, machte Rogers deutlich.
Die Folgen spielten den Rohstoffmärkten in die Karten: Der rapide Dollarverfall ließ die in Dollar geführten Rohstoffnotierungen reflexartig nach oben schnellen. Der Goldpreis verteuerte sich seit der Zinssenkung am 18. September lehrbuchmäßig, zumal im Zuge eines gelockterten Leitzinsniveaus die Inflationsrisiken steigen. Gegen die gilt Gold jedoch bekanntermaßen als "sicherer Hafen". Entsprechend hat sich das edle Metall seit der Senkung des Diskontsatzes am 17. August um 13 Prozent verteuert.
>> Übernahmefantasie beflügelt Minenwerte zusätzlich – Aloca enttäuscht
Dass die Aufschläge bei den Minenwerten umso heftiger ausfielen, ist für Martin Siegel indes nur allzu logisch. "Wir haben hier eine musterhafte Entwicklung: Minenaktien reagieren auf Veränderungen der Edelmetallnotierungen mit Hebel", erklärt der Fondsmanager des PEH Q Goldmines gegenüber der Tageszeitzung "Die Welt".
Als zusätzlicher Treiber für Kursgewinne kommt Aktionären von Bergbauunternehmen ebenso die ungebrochene Übernahmefantasie zupass. Allein im vergangenen Jahr gingen Fusionen und Übernahmen in der Größenordnung von 120 Milliarden Dollar über die Bühne. Im laufenden Jahr hält die Jagd nach Akquisitionszielen an: Erst im Juli schnappte Rio Tinto Alcoa den Alumiumhersteller Alcan weg. Kaufpreis: Stolze 38 Milliarden Dollar.
Dass in der realen Wirtschaft indes im prognostizierten Superzyklus der Rohstoffmärkte auch etwas schief gehen kann, mussten Anleger erst gestern erstaunt feststellen. Alcoa eröffnete turnusmäßig die amerikanische Quartalssaison und enttäuschte dabei: Der Dow Jones-Konzern musste im vergangenen Quartal einen Umsatzrückgang von knapp 250 Millionen Dollar ausweisen und konnte den Nettogewinn lediglich um drei Prozent gegenüber dem Vorjahreszeitraum steigern – vor allem dank Sonderpositionen und Beteiligungsverkäufen. Der Nachsteuergewinn sank dagegen tatsächlich um 14 Prozent – ein Boom liest sich anders.
(Quelle: http://www.yeald.de/Yeald/a/81481/article.html)
Rohstoff-Trader-Kolumne: „Rohstoff-Hausse“ ohne Ende?
von Marc Nitzsche
Rohstoff-Trader (12.11.07) - Insbesondere Öl und die Edelmetalle aber auch viele andere Rohstoffe sind gegenwärtig fest in "Bullenhand". Angesichts der kritischen Situation an den weltweiten Aktienmärkten erstaunt mich diese Tatsache doch etwas. Immerhin haben wir in diesem Jahr mehr als einmal gesehen, dass Rohwaren mitunter eine recht hohe Korrelation zu den Dividenden-Papieren aufweisen. Was also sind die Gründe für die aktuelle "Mega-Hausse" und - noch viel wichtiger - wie lange wird sie noch andauern?
Dollar-Schwäche als Kurstreiber!
Einen "Schuldigen" für die aktuelle "Rohstoff-Rallye" vermag ich, schnell auszumachen: Meiner Meinung nach ist es der überaus schwache "Greenback". Da die meisten "Naturschätze" in US-Dollar gehandelt werden, führt die kontinuierliche Abwertung der Welt-Leitwährung dazu, dass Rohwaren für die Mitglieder anderer Währungsräume preiswerter werden. Hierdurch steigt die Nachfrage. Darüber hinaus schürt der schleichende Verfall des US-Dollars massive Inflationsängste, die ihrerseits die Attraktivität von Investments in Rohstoffen erhöhen. Schließlich gelten solche Anlagen gemeinhin als nahezu perfekter Schutz gegen Geld-Entwertung. Kein Wunder also, dass der Euro zum US-Dollar in dieser Woche auf ein neues Allzeithoch ansteigen konnte.
Zur Stunde beschleicht mich irgendwie das Gefühl, dass am Devisen-Markt fast schon eine Art Endzeitstimmung gegenüber dem "Greenback" herrscht. Die letzten Optimisten scheinen zu kapitulieren und die fundamentalen Daten geraten immer mehr aus dem Blickfeld. Denn auch wenn ich kein großer "Fan" der Amerikaner bin, muss ich doch sagen, dass die Wirtschaft in Übersee robuster ist als es uns die Schwäche der Währung vorgaukelt. In der gegenwärtigen Phase mag es eventuell noch zu übertriebenen Reaktionen kommen. Aber wie heißt es doch so schön: Wenn die Nacht am schwärzesten ist, ist der Morgen nicht mehr fern. Das könnte auch für den US-Dollar gelten
Anzeichen einer "Blasen-Bildung"!
Nun aber zurück zu den Rohstoffen: Vor allem bei Öl und den Edelmetallen sehe ich gegenwärtig die reale Gefahr einer "Blasen-Bildung". Das Sentiment ist derart "bullisch", dass schon wieder abenteuerliche Kursziele herumgereicht werden. Fundamental vermag ich einem Ölpreis von fast 100 US-Dollar genauso wenig abzugewinnen wie Gold-Notierungen um 830 US-Dollar. Für mich steht daher völlig außer Frage, dass hier vornehmlich Spekulanten am Werk sind. Diese Annahme wird unter anderem auch durch einen Blick auf die CoT-Daten (Open Interest) der genannten Rohstoffe untermauert. Somit sind Korrekturen bereits absehbar. Und die werden umso heftiger ausfallen, je höher die Kurse im Vorfeld noch steigen.
(Quelle: http://www.rohstoff-trader.de)
von Marc Nitzsche
Rohstoff-Trader (12.11.07) - Insbesondere Öl und die Edelmetalle aber auch viele andere Rohstoffe sind gegenwärtig fest in "Bullenhand". Angesichts der kritischen Situation an den weltweiten Aktienmärkten erstaunt mich diese Tatsache doch etwas. Immerhin haben wir in diesem Jahr mehr als einmal gesehen, dass Rohwaren mitunter eine recht hohe Korrelation zu den Dividenden-Papieren aufweisen. Was also sind die Gründe für die aktuelle "Mega-Hausse" und - noch viel wichtiger - wie lange wird sie noch andauern?
Dollar-Schwäche als Kurstreiber!
Einen "Schuldigen" für die aktuelle "Rohstoff-Rallye" vermag ich, schnell auszumachen: Meiner Meinung nach ist es der überaus schwache "Greenback". Da die meisten "Naturschätze" in US-Dollar gehandelt werden, führt die kontinuierliche Abwertung der Welt-Leitwährung dazu, dass Rohwaren für die Mitglieder anderer Währungsräume preiswerter werden. Hierdurch steigt die Nachfrage. Darüber hinaus schürt der schleichende Verfall des US-Dollars massive Inflationsängste, die ihrerseits die Attraktivität von Investments in Rohstoffen erhöhen. Schließlich gelten solche Anlagen gemeinhin als nahezu perfekter Schutz gegen Geld-Entwertung. Kein Wunder also, dass der Euro zum US-Dollar in dieser Woche auf ein neues Allzeithoch ansteigen konnte.
Zur Stunde beschleicht mich irgendwie das Gefühl, dass am Devisen-Markt fast schon eine Art Endzeitstimmung gegenüber dem "Greenback" herrscht. Die letzten Optimisten scheinen zu kapitulieren und die fundamentalen Daten geraten immer mehr aus dem Blickfeld. Denn auch wenn ich kein großer "Fan" der Amerikaner bin, muss ich doch sagen, dass die Wirtschaft in Übersee robuster ist als es uns die Schwäche der Währung vorgaukelt. In der gegenwärtigen Phase mag es eventuell noch zu übertriebenen Reaktionen kommen. Aber wie heißt es doch so schön: Wenn die Nacht am schwärzesten ist, ist der Morgen nicht mehr fern. Das könnte auch für den US-Dollar gelten
Anzeichen einer "Blasen-Bildung"!
Nun aber zurück zu den Rohstoffen: Vor allem bei Öl und den Edelmetallen sehe ich gegenwärtig die reale Gefahr einer "Blasen-Bildung". Das Sentiment ist derart "bullisch", dass schon wieder abenteuerliche Kursziele herumgereicht werden. Fundamental vermag ich einem Ölpreis von fast 100 US-Dollar genauso wenig abzugewinnen wie Gold-Notierungen um 830 US-Dollar. Für mich steht daher völlig außer Frage, dass hier vornehmlich Spekulanten am Werk sind. Diese Annahme wird unter anderem auch durch einen Blick auf die CoT-Daten (Open Interest) der genannten Rohstoffe untermauert. Somit sind Korrekturen bereits absehbar. Und die werden umso heftiger ausfallen, je höher die Kurse im Vorfeld noch steigen.
(Quelle: http://www.rohstoff-trader.de)
auch wenn die Preise für Gold und Solber schon gut gestiegen sind - inflationsbereinigt ist das nix....
bin weiter bullish für Edelmetalle + Basismetalle - China brummt, Indien erwacht und in Südamerika wächst auch eine große Schicht Vermögender heran.
außerdem wollen 1,5 Billionen $ chinesische Währngsresever investiert werden undundund
das es zwischenzeitlich Korrekturen gibt ist Normal und immer gesund...... wobei ich die Reaktion z.B. bei Thompson Creek schon leicht übertrieben halte - wenn es da nochmal weiter abwärts geht kann man mal ne Posi nehmen
bin weiter bullish für Edelmetalle + Basismetalle - China brummt, Indien erwacht und in Südamerika wächst auch eine große Schicht Vermögender heran.
außerdem wollen 1,5 Billionen $ chinesische Währngsresever investiert werden undundund
das es zwischenzeitlich Korrekturen gibt ist Normal und immer gesund...... wobei ich die Reaktion z.B. bei Thompson Creek schon leicht übertrieben halte - wenn es da nochmal weiter abwärts geht kann man mal ne Posi nehmen
Bin hier auch klar bullisch: Verteilungskämpfe bei Rohstoffen,- haben wir hier oft genug gepostet!!!
Asien,China Indien........................
Asien,China Indien........................
Schwerpunkt: Explorer die nächstes Jahr in Produktion gehen!!
Hier sind ja genug gepostet worden.
- Crowflight
- Sterling Mining
- Millstream
Welche Werte mit niedriger MK habt ihr noch auf Watch bzw. im Depot?
Schwerpunkt: Explorer die nächstes Jahr in Produktion gehen!!
Hier sind ja genug gepostet worden.
- Crowflight
- Sterling Mining
- Millstream
Welche Werte mit niedriger MK habt ihr noch auf Watch bzw. im Depot?
Int. PBX
bemueht sich, demnaechst ein Copper Leach Projekt zur Produktion zu bringen
nahezu auf Mehrjahrestief, kaufe weiter zu, immer mal hier und da 3-500 Euro Posis
Schwerpunkt: Explorer die nächstes Jahr in Produktion gehen!!
Hier sind ja genug gepostet worden.
- Crowflight
- Sterling Mining
- Millstream
Welche Werte mit niedriger MK habt ihr noch auf Watch bzw. im Depot?
Int. PBX
bemueht sich, demnaechst ein Copper Leach Projekt zur Produktion zu bringen
nahezu auf Mehrjahrestief, kaufe weiter zu, immer mal hier und da 3-500 Euro Posis
» zur Grafik
Jo, habe ich auch sehr aussichtsreich!!
Schwerpunkt: Explorer die nächstes Jahr in Produktion gehen!!
Hier sind ja genug gepostet worden.
- Crowflight
- Sterling Mining
- Millstream
Welche Werte mit niedriger MK habt ihr noch auf Watch bzw. im Depot?
Int. PBX
bemueht sich, demnaechst ein Copper Leach Projekt zur Produktion zu bringen
nahezu auf Mehrjahrestief, kaufe weiter zu, immer mal hier und da 3-500 Euro Posis
» zur Grafik
Bekommt man nur über Can direkt oder auch hier in DE?
Kürzel -IVV- , Frankfurt
Schwerpunkt: Explorer die nächstes Jahr in Produktion gehen!!
Hier sind ja genug gepostet worden.
- Crowflight
- Sterling Mining
- Millstream
Welche Werte mit niedriger MK habt ihr noch auf Watch bzw. im Depot?
Int. PBX
bemueht sich, demnaechst ein Copper Leach Projekt zur Produktion zu bringen
nahezu auf Mehrjahrestief, kaufe weiter zu, immer mal hier und da 3-500 Euro Posis
» zur Grafik
Bekommt man nur über Can direkt oder auch hier in DE?
Kürzel -IVV- , Frankfurt
Schwerpunkt: Explorer die nächstes Jahr in Produktion gehen!!
Hier sind ja genug gepostet worden.
- Crowflight
- Sterling Mining
- Millstream
Welche Werte mit niedriger MK habt ihr noch auf Watch bzw. im Depot?
Int. PBX
bemueht sich, demnaechst ein Copper Leach Projekt zur Produktion zu bringen
nahezu auf Mehrjahrestief, kaufe weiter zu, immer mal hier und da 3-500 Euro Posis
» zur Grafik
Bekommt man nur über Can direkt oder auch hier in DE?
Hatte ich, nur Xetra und nicht Frankfurt und deshalb nie Kurse getaxt (nicht gesehen, sorry) bzw. danke!
FIRST MAJESTIC SILVER CP
First Majestic Silver Corp.: Update on the Cuitaboca Silver Project
11/13/2007
VANCOUVER, BRITISH COLUMBIA, Nov 13, 2007 (MARKET WIRE via COMTEX News Network) --
FIRST MAJESTIC SILVER CORP. (TSX VENTURE: FR)(PINK SHEETS: FRMSF)(FRANKFURT: FMV)(WKN: A0LHKJ) (the "Company") is pleased to announce that the first stage of exploration at the Company's Cuitaboca Silver Project has defined a system of at least six known parallel veins that hosts high grade silver, lead and zinc.
The Cuitaboca Silver Project district is located in the State of Sinaloa in Mexico situated in the Western edge of the Sierra Madre Occidental metallogenic province, a large geologic region that is host to many of the best known gold, silver and base metals producing districts such as San Jose de Gracia, Alamos, Guanacevi, Tayoltita, Bacis, La Cienega, Pinos Altos, etc.
The Cuitaboca project, acquired from First Silver Reserve, Inc. late last year along with the San Martin Silver Mine, consists of a 5,134 hectare land package with at least six well known veins with sulphide mineralization carrying high grade silver. The veins within the property are known as La Lupita, Los Sapos, Chapotal, Colateral-Jesus Maria, Mojardina and Santa Eduwiges.
During the first two quarters of this year, access to the project was achieved with a total of 26 km of new road construction, which successfully reached two of the veins within the system: the Colateral-Jesus Maria vein, and the Mojardina vein. Development of a 100 metre crosscut to access the Colateral vein was constructed and a drift of 110 metres along the vein has been completed to date. Results of sampling shown below were taken at three metre line spacing's along the Colateral vein which have shown an average grade of 425 g/t silver, 0.42 g/t gold, 1.65% lead and 2.15% zinc across the 110 metres.
-----------------------------------------------------------------------
---
Line Width Au Ag Ag Pb Pb Zn Zn Ag
Number Metres g/t g/t Oz % lb/tonne % lb/tonne Eq Oz(i)
--------------------------------------------------------------------------
Line 1 NW 2.30 0.12 251 8.07 0.85 18.76 4.98 109.46 19.30
--------------------------------------------------------------------------
Line 2 NW 1.60 0.18 464 14.92 1.64 36.02 1.78 39.25 22.45
--------------------------------------------------------------------------
Line 3 NW 1.50 0.24 480 15.44 0.74 16.33 1.44 31.68 20.26
--------------------------------------------------------------------------
Line 4 NW 1.10 0.29 169 5.45 1.08 23.72 1.54 33.80 11.35
--------------------------------------------------------------------------
Line 5 NW 1.15 0.20 870 27.98 4.05 89.07 3.82 84.06 45.12
--------------------------------------------------------------------------
Line 6 NW 0.50 1.47 202 6.50 0.53 11.59 0.78 17.20 11.75
--------------------------------------------------------------------------
Line 7 NW 1.10 1.38 1,359 43.69 6.76 148.70 3.68 81.04 69.29
--------------------------------------------------------------------------
Line 8 NW 1.50 1.41 1,240 39.87 3.55 78.11 4.03 88.72 58.28
--------------------------------------------------------------------------
Line 9 NW 2.10 1.28 395 12.70 2.56 56.33 2.93 64.49 26.47
--------------------------------------------------------------------------
Line 10 NW 2.30 0.93 741 23.82 5.30 116.59 3.03 66.73 43.89
--------------------------------------------------------------------------
Line 11 NW 1.35 1.49 756 24.30 1.66 36.55 2.05 45.17 34.65
--------------------------------------------------------------------------
Line 12 NW 1.70 0.25 77 2.49 1.06 23.42 0.79 17.40 6.96
--------------------------------------------------------------------------
Line 13 NW 1.60 0.68 291 9.35 3.34 73.52 1.84 40.37 22.02
--------------------------------------------------------------------------
Line 1 SE 2.00 0.05 216 6.95 0.75 16.60 1.10 24.20 10.85
--------------------------------------------------------------------------
Line 2 SE 2.00 0.08 722 23.22 0.84 18.51 2.13 46.86 29.23
--------------------------------------------------------------------------
Line 3 SE 1.70 0.05 652 20.96 0.83 18.34 2.25 49.50 27.14
--------------------------------------------------------------------------
Line 4 SE 1.50 0.18 718 23.09 1.05 23.10 1.28 28.16 28.27
--------------------------------------------------------------------------
Line 5 SE 1.70 0.51 823 26.46 0.80 17.69 2.08 45.82 33.05
--------------------------------------------------------------------------
Line 6 SE 1.80 1.01 637 20.48 1.50 33.11 3.39 74.56 32.00
--------------------------------------------------------------------------
Line 7 SE 2.20 0.39 413 13.28 0.55 12.06 1.08 23.80 17.24
--------------------------------------------------------------------------
Line 8 SE 1.50 0.41 677 21.77 1.84 40.48 3.98 87.56 34.13
--------------------------------------------------------------------------
Line 9 SE 1.50 0.27 53 1.70 0.65 14.32 0.39 8.67 4.49
--------------------------------------------------------------------------
Line 10 SE 1.20 0.12 37 1.19 0.59 13.04 0.42 9.24 3.60
--------------------------------------------------------------------------
Line 11 SE 1.00 0.04 276 8.87 0.38 8.46 0.64 14.05 11.04
--------------------------------------------------------------------------
Line 12 SE 1.00 0.01 2 0.06 0.04 0.94 0.08 1.79 0.32
--------------------------------------------------------------------------
Line 13 SE 0.70 0.01 6 0.18 0.09 1.91 0.15 3.29 0.67
--------------------------------------------------------------------------
Line 14 SE 1.00 0.01 20 0.64 0.07 1.56 0.12 2.64 1.04
--------------------------------------------------------------------------
Line 15 SE 1.15 0.01 3 0.10 0.03 0.67 0.04 0.85 0.26
--------------------------------------------------------------------------
Line 16 SE 0.60 0.01 4 0.14 0.07 1.45 0.18 4.05 0.64
--------------------------------------------------------------------------
Line 17 SE 0.50 0.04 12 0.37 0.17 3.78 0.45 9.90 1.67
--------------------------------------------------------------------------
Line 18 SE 1.05 0.03 9 0.29 0.20 4.49 0.30 6.66 1.39
--------------------------------------------------------------------------
Line 19 SE 1.70 0.08 72 2.33 2.72 59.77 6.05 133.05 19.98
--------------------------------------------------------------------------
Line 20 SE 1.40 0.01 29 0.93 3.39 74.55 3.18 70.04 14.97
--------------------------------------------------------------------------
Average
over 110 m 1.42 0.42 425 13.66 1.65 36.39 2.15 47.23 22.31
--------------------------------------------------------------------------
(i) Kitco, November 6, 2007 metal prices (Au: 821.50 USD/oz, Ag: 15.22
USD/oz, Pb: 1.70 USD/lb, Zn: 1.24 USD/lb. No recoveries and NSR
considered).
Highlights of the first 40 metres on the NW side of the drift define a
block with an average grade of 547 g/t silver, 0.72 g/t gold, 2.60% lead
and 2.69% zinc.
--------------------------------------------------------------------------
Line Width Au Ag Ag Pb Pb Zn Zn (i)Ag
Number Metres g/t g/t Oz % lb/tonne % lb/Tonne Eq Oz
--------------------------------------------------------------------------
Line 1 NW 2.30 0.12 251 8.07 0.85 18.76 4.98 109.46 19.30
--------------------------------------------------------------------------
Line 2 NW 1.60 0.18 464 14.92 1.64 36.02 1.78 39.25 22.45
--------------------------------------------------------------------------
Line 3 NW 1.50 0.24 480 15.44 0.74 16.33 1.44 31.68 20.26
--------------------------------------------------------------------------
Line 4 NW 1.10 0.29 169 5.45 1.08 23.72 1.54 33.80 11.35
--------------------------------------------------------------------------
Line 5 NW 1.15 0.20 870 27.98 4.05 89.07 3.82 84.06 45.12
--------------------------------------------------------------------------
Line 6 NW 0.50 1.47 202 6.50 0.53 11.59 0.78 17.20 11.75
--------------------------------------------------------------------------
Line 7 NW 1.10 1.38 1,359 43.69 6.76 148.70 3.68 81.04 69.29
--------------------------------------------------------------------------
Line 8 NW 1.50 1.41 1,240 39.87 3.55 78.11 4.03 88.72 58.28
--------------------------------------------------------------------------
Line 9 NW 2.10 1.28 395 12.70 2.56 56.33 2.93 64.49 26.47
--------------------------------------------------------------------------
Line 10 NW 2.30 0.93 741 23.82 5.30 116.59 3.03 66.73 43.89
--------------------------------------------------------------------------
Line 11 NW 1.35 1.49 756 24.30 1.66 36.55 2.05 45.17 34.65
--------------------------------------------------------------------------
Line 12 NW 1.70 0.25 77 2.49 1.06 23.42 0.79 17.40 6.96
--------------------------------------------------------------------------
Line 13 NW 1.60 0.68 291 9.35 3.34 73.52 1.84 40.37 22.02
--------------------------------------------------------------------------
Average 1.52 0.72 547 17.59 2.60 57.25 2.69 59.13 30.05
over 40 m
--------------------------------------------------------------------------
--------------------------------------------------------------------------
(i) Kitco, November 6, 2007 metal prices (Au: 821.50 USD/oz, Ag: 15.22
USD/oz, Pb: 1.70 USD/lb, Zn: 1.24 USD/lb. Recoveries and NSR are not
considered).
Highlights of the first 33 metres on the SE side of the drift define a
block with an average grade of 493 g/t silver, 0.29 g/t gold, 0.90% lead
and 1.76% zinc.
------------------------------------------------------------------------
Line Width Au Ag Ag Pb Pb Zn Zn (i)Ag
Number Metres g/t g/t Oz % lb/Tonne % lb/Tonne Eq Oz
------------------------------------------------------------------------
Line 1 SE 2.00 0.05 216 6.95 0.75 16.60 1.10 24.20 10.85
------------------------------------------------------------------------
Line 2 SE 2.00 0.08 722 23.22 0.84 18.51 2.13 46.86 29.23
------------------------------------------------------------------------
Line 3 SE 1.70 0.05 652 20.96 0.83 18.34 2.25 49.50 27.14
------------------------------------------------------------------------
Line 4 SE 1.50 0.18 718 23.09 1.05 23.10 1.28 28.16 28.27
------------------------------------------------------------------------
Line 5 SE 1.70 0.51 823 26.46 0.80 17.69 2.08 45.82 33.05
------------------------------------------------------------------------
Line 6 SE 1.80 1.01 637 20.48 1.50 33.11 3.39 74.56 32.00
------------------------------------------------------------------------
Line 7 SE 2.20 0.39 413 13.28 0.55 12.06 1.08 23.80 17.24
------------------------------------------------------------------------
Line 8 SE 1.50 0.41 677 21.77 1.84 40.48 3.98 87.56 34.13
------------------------------------------------------------------------
Line 9 SE 1.50 0.27 53 1.70 0.65 14.32 0.39 8.67 4.49
------------------------------------------------------------------------
Line 10 SE 1.20 0.12 37 1.19 0.59 13.04 0.42 9.24 3.60
------------------------------------------------------------------------
Line 11 SE 1.00 0.04 276 8.87 0.38 8.46 0.64 14.05 11.04
------------------------------------------------------------------------
Average 1.65 0.29 493 15.86 0.90 19.81 1.76 38.81 21.75
over 33 m
------------------------------------------------------------------------
(i) Kitco, November 6, 2007 metal prices (Au: 821.50 USD/oz, Ag: 15.22
USD/oz, Pb: 1.70 USD/lb, Zn: 1.24 USD/lb. Recoveries and NSR are not
considered).
Based on the successful development of the Colateral vein which remains open both at depth and along strike, the Company intends to advance the current exploration program increasing the development and exploration efforts by completing 2,000 metres of direct drifting along the vein and commencing a diamond drill program at both the Colateral and Mojardina veins. Road construction will also be continued to extend access to the La Lupita, Los Sapos, Chapotal, and Santa Eduwiges veins where additional exploration work will be carried out.
Samples are shipped to the Inspectorate preparation laboratory in Durango, Mexico for drying, crushing and pulverizing. Inspectorate Mexico then sends the pulps by air-freight to Inspectorate America Corporation in Sparks, Nevada for assaying. Systematic assaying of standards and blanks are performed for precision and accuracy; check assays are regularly conducted by inspectorate America Corporation.
Baltazar Solano-Rico, M.Sc., President of Behre Dolbear de Mexico, S.A. de C.V. is the Company's Qualified Person for the Cuitaboca Silver Project as defined in NI 43-101 and has reviewed the content of this news release.
First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through development of its existing assets and the pursuit through acquisition of additional assets that make sense to achieving its corporate objective.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Resource Corp. 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.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: First Majestic Silver Corp. Keith Neumeyer President & CEO (604) 688-3033 or Toll Free: 1-866-529-2807 (604) 639-8873 (FAX) Email: info@firstmajestic.com Website: www.firstmajestic.com
SOURCE: First Majestic Silver Corp.
mailto:info@firstmajestic.com http://www.firstmajestic.com
First Majestic Silver Corp.: Update on the Cuitaboca Silver Project
11/13/2007
VANCOUVER, BRITISH COLUMBIA, Nov 13, 2007 (MARKET WIRE via COMTEX News Network) --
FIRST MAJESTIC SILVER CORP. (TSX VENTURE: FR)(PINK SHEETS: FRMSF)(FRANKFURT: FMV)(WKN: A0LHKJ) (the "Company") is pleased to announce that the first stage of exploration at the Company's Cuitaboca Silver Project has defined a system of at least six known parallel veins that hosts high grade silver, lead and zinc.
The Cuitaboca Silver Project district is located in the State of Sinaloa in Mexico situated in the Western edge of the Sierra Madre Occidental metallogenic province, a large geologic region that is host to many of the best known gold, silver and base metals producing districts such as San Jose de Gracia, Alamos, Guanacevi, Tayoltita, Bacis, La Cienega, Pinos Altos, etc.
The Cuitaboca project, acquired from First Silver Reserve, Inc. late last year along with the San Martin Silver Mine, consists of a 5,134 hectare land package with at least six well known veins with sulphide mineralization carrying high grade silver. The veins within the property are known as La Lupita, Los Sapos, Chapotal, Colateral-Jesus Maria, Mojardina and Santa Eduwiges.
During the first two quarters of this year, access to the project was achieved with a total of 26 km of new road construction, which successfully reached two of the veins within the system: the Colateral-Jesus Maria vein, and the Mojardina vein. Development of a 100 metre crosscut to access the Colateral vein was constructed and a drift of 110 metres along the vein has been completed to date. Results of sampling shown below were taken at three metre line spacing's along the Colateral vein which have shown an average grade of 425 g/t silver, 0.42 g/t gold, 1.65% lead and 2.15% zinc across the 110 metres.
-----------------------------------------------------------------------
---
Line Width Au Ag Ag Pb Pb Zn Zn Ag
Number Metres g/t g/t Oz % lb/tonne % lb/tonne Eq Oz(i)
--------------------------------------------------------------------------
Line 1 NW 2.30 0.12 251 8.07 0.85 18.76 4.98 109.46 19.30
--------------------------------------------------------------------------
Line 2 NW 1.60 0.18 464 14.92 1.64 36.02 1.78 39.25 22.45
--------------------------------------------------------------------------
Line 3 NW 1.50 0.24 480 15.44 0.74 16.33 1.44 31.68 20.26
--------------------------------------------------------------------------
Line 4 NW 1.10 0.29 169 5.45 1.08 23.72 1.54 33.80 11.35
--------------------------------------------------------------------------
Line 5 NW 1.15 0.20 870 27.98 4.05 89.07 3.82 84.06 45.12
--------------------------------------------------------------------------
Line 6 NW 0.50 1.47 202 6.50 0.53 11.59 0.78 17.20 11.75
--------------------------------------------------------------------------
Line 7 NW 1.10 1.38 1,359 43.69 6.76 148.70 3.68 81.04 69.29
--------------------------------------------------------------------------
Line 8 NW 1.50 1.41 1,240 39.87 3.55 78.11 4.03 88.72 58.28
--------------------------------------------------------------------------
Line 9 NW 2.10 1.28 395 12.70 2.56 56.33 2.93 64.49 26.47
--------------------------------------------------------------------------
Line 10 NW 2.30 0.93 741 23.82 5.30 116.59 3.03 66.73 43.89
--------------------------------------------------------------------------
Line 11 NW 1.35 1.49 756 24.30 1.66 36.55 2.05 45.17 34.65
--------------------------------------------------------------------------
Line 12 NW 1.70 0.25 77 2.49 1.06 23.42 0.79 17.40 6.96
--------------------------------------------------------------------------
Line 13 NW 1.60 0.68 291 9.35 3.34 73.52 1.84 40.37 22.02
--------------------------------------------------------------------------
Line 1 SE 2.00 0.05 216 6.95 0.75 16.60 1.10 24.20 10.85
--------------------------------------------------------------------------
Line 2 SE 2.00 0.08 722 23.22 0.84 18.51 2.13 46.86 29.23
--------------------------------------------------------------------------
Line 3 SE 1.70 0.05 652 20.96 0.83 18.34 2.25 49.50 27.14
--------------------------------------------------------------------------
Line 4 SE 1.50 0.18 718 23.09 1.05 23.10 1.28 28.16 28.27
--------------------------------------------------------------------------
Line 5 SE 1.70 0.51 823 26.46 0.80 17.69 2.08 45.82 33.05
--------------------------------------------------------------------------
Line 6 SE 1.80 1.01 637 20.48 1.50 33.11 3.39 74.56 32.00
--------------------------------------------------------------------------
Line 7 SE 2.20 0.39 413 13.28 0.55 12.06 1.08 23.80 17.24
--------------------------------------------------------------------------
Line 8 SE 1.50 0.41 677 21.77 1.84 40.48 3.98 87.56 34.13
--------------------------------------------------------------------------
Line 9 SE 1.50 0.27 53 1.70 0.65 14.32 0.39 8.67 4.49
--------------------------------------------------------------------------
Line 10 SE 1.20 0.12 37 1.19 0.59 13.04 0.42 9.24 3.60
--------------------------------------------------------------------------
Line 11 SE 1.00 0.04 276 8.87 0.38 8.46 0.64 14.05 11.04
--------------------------------------------------------------------------
Line 12 SE 1.00 0.01 2 0.06 0.04 0.94 0.08 1.79 0.32
--------------------------------------------------------------------------
Line 13 SE 0.70 0.01 6 0.18 0.09 1.91 0.15 3.29 0.67
--------------------------------------------------------------------------
Line 14 SE 1.00 0.01 20 0.64 0.07 1.56 0.12 2.64 1.04
--------------------------------------------------------------------------
Line 15 SE 1.15 0.01 3 0.10 0.03 0.67 0.04 0.85 0.26
--------------------------------------------------------------------------
Line 16 SE 0.60 0.01 4 0.14 0.07 1.45 0.18 4.05 0.64
--------------------------------------------------------------------------
Line 17 SE 0.50 0.04 12 0.37 0.17 3.78 0.45 9.90 1.67
--------------------------------------------------------------------------
Line 18 SE 1.05 0.03 9 0.29 0.20 4.49 0.30 6.66 1.39
--------------------------------------------------------------------------
Line 19 SE 1.70 0.08 72 2.33 2.72 59.77 6.05 133.05 19.98
--------------------------------------------------------------------------
Line 20 SE 1.40 0.01 29 0.93 3.39 74.55 3.18 70.04 14.97
--------------------------------------------------------------------------
Average
over 110 m 1.42 0.42 425 13.66 1.65 36.39 2.15 47.23 22.31
--------------------------------------------------------------------------
(i) Kitco, November 6, 2007 metal prices (Au: 821.50 USD/oz, Ag: 15.22
USD/oz, Pb: 1.70 USD/lb, Zn: 1.24 USD/lb. No recoveries and NSR
considered).
Highlights of the first 40 metres on the NW side of the drift define a
block with an average grade of 547 g/t silver, 0.72 g/t gold, 2.60% lead
and 2.69% zinc.
--------------------------------------------------------------------------
Line Width Au Ag Ag Pb Pb Zn Zn (i)Ag
Number Metres g/t g/t Oz % lb/tonne % lb/Tonne Eq Oz
--------------------------------------------------------------------------
Line 1 NW 2.30 0.12 251 8.07 0.85 18.76 4.98 109.46 19.30
--------------------------------------------------------------------------
Line 2 NW 1.60 0.18 464 14.92 1.64 36.02 1.78 39.25 22.45
--------------------------------------------------------------------------
Line 3 NW 1.50 0.24 480 15.44 0.74 16.33 1.44 31.68 20.26
--------------------------------------------------------------------------
Line 4 NW 1.10 0.29 169 5.45 1.08 23.72 1.54 33.80 11.35
--------------------------------------------------------------------------
Line 5 NW 1.15 0.20 870 27.98 4.05 89.07 3.82 84.06 45.12
--------------------------------------------------------------------------
Line 6 NW 0.50 1.47 202 6.50 0.53 11.59 0.78 17.20 11.75
--------------------------------------------------------------------------
Line 7 NW 1.10 1.38 1,359 43.69 6.76 148.70 3.68 81.04 69.29
--------------------------------------------------------------------------
Line 8 NW 1.50 1.41 1,240 39.87 3.55 78.11 4.03 88.72 58.28
--------------------------------------------------------------------------
Line 9 NW 2.10 1.28 395 12.70 2.56 56.33 2.93 64.49 26.47
--------------------------------------------------------------------------
Line 10 NW 2.30 0.93 741 23.82 5.30 116.59 3.03 66.73 43.89
--------------------------------------------------------------------------
Line 11 NW 1.35 1.49 756 24.30 1.66 36.55 2.05 45.17 34.65
--------------------------------------------------------------------------
Line 12 NW 1.70 0.25 77 2.49 1.06 23.42 0.79 17.40 6.96
--------------------------------------------------------------------------
Line 13 NW 1.60 0.68 291 9.35 3.34 73.52 1.84 40.37 22.02
--------------------------------------------------------------------------
Average 1.52 0.72 547 17.59 2.60 57.25 2.69 59.13 30.05
over 40 m
--------------------------------------------------------------------------
--------------------------------------------------------------------------
(i) Kitco, November 6, 2007 metal prices (Au: 821.50 USD/oz, Ag: 15.22
USD/oz, Pb: 1.70 USD/lb, Zn: 1.24 USD/lb. Recoveries and NSR are not
considered).
Highlights of the first 33 metres on the SE side of the drift define a
block with an average grade of 493 g/t silver, 0.29 g/t gold, 0.90% lead
and 1.76% zinc.
------------------------------------------------------------------------
Line Width Au Ag Ag Pb Pb Zn Zn (i)Ag
Number Metres g/t g/t Oz % lb/Tonne % lb/Tonne Eq Oz
------------------------------------------------------------------------
Line 1 SE 2.00 0.05 216 6.95 0.75 16.60 1.10 24.20 10.85
------------------------------------------------------------------------
Line 2 SE 2.00 0.08 722 23.22 0.84 18.51 2.13 46.86 29.23
------------------------------------------------------------------------
Line 3 SE 1.70 0.05 652 20.96 0.83 18.34 2.25 49.50 27.14
------------------------------------------------------------------------
Line 4 SE 1.50 0.18 718 23.09 1.05 23.10 1.28 28.16 28.27
------------------------------------------------------------------------
Line 5 SE 1.70 0.51 823 26.46 0.80 17.69 2.08 45.82 33.05
------------------------------------------------------------------------
Line 6 SE 1.80 1.01 637 20.48 1.50 33.11 3.39 74.56 32.00
------------------------------------------------------------------------
Line 7 SE 2.20 0.39 413 13.28 0.55 12.06 1.08 23.80 17.24
------------------------------------------------------------------------
Line 8 SE 1.50 0.41 677 21.77 1.84 40.48 3.98 87.56 34.13
------------------------------------------------------------------------
Line 9 SE 1.50 0.27 53 1.70 0.65 14.32 0.39 8.67 4.49
------------------------------------------------------------------------
Line 10 SE 1.20 0.12 37 1.19 0.59 13.04 0.42 9.24 3.60
------------------------------------------------------------------------
Line 11 SE 1.00 0.04 276 8.87 0.38 8.46 0.64 14.05 11.04
------------------------------------------------------------------------
Average 1.65 0.29 493 15.86 0.90 19.81 1.76 38.81 21.75
over 33 m
------------------------------------------------------------------------
(i) Kitco, November 6, 2007 metal prices (Au: 821.50 USD/oz, Ag: 15.22
USD/oz, Pb: 1.70 USD/lb, Zn: 1.24 USD/lb. Recoveries and NSR are not
considered).
Based on the successful development of the Colateral vein which remains open both at depth and along strike, the Company intends to advance the current exploration program increasing the development and exploration efforts by completing 2,000 metres of direct drifting along the vein and commencing a diamond drill program at both the Colateral and Mojardina veins. Road construction will also be continued to extend access to the La Lupita, Los Sapos, Chapotal, and Santa Eduwiges veins where additional exploration work will be carried out.
Samples are shipped to the Inspectorate preparation laboratory in Durango, Mexico for drying, crushing and pulverizing. Inspectorate Mexico then sends the pulps by air-freight to Inspectorate America Corporation in Sparks, Nevada for assaying. Systematic assaying of standards and blanks are performed for precision and accuracy; check assays are regularly conducted by inspectorate America Corporation.
Baltazar Solano-Rico, M.Sc., President of Behre Dolbear de Mexico, S.A. de C.V. is the Company's Qualified Person for the Cuitaboca Silver Project as defined in NI 43-101 and has reviewed the content of this news release.
First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through development of its existing assets and the pursuit through acquisition of additional assets that make sense to achieving its corporate objective.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Resource Corp. 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.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: First Majestic Silver Corp. Keith Neumeyer President & CEO (604) 688-3033 or Toll Free: 1-866-529-2807 (604) 639-8873 (FAX) Email: info@firstmajestic.com Website: www.firstmajestic.com
SOURCE: First Majestic Silver Corp.
mailto:info@firstmajestic.com http://www.firstmajestic.com
kleiner Ausflug über 1,55 CAD wieder vorbei - habe mir heute Abend noch was zu 1,03 in FFM gegönnt 
das solltet Ihr zu Scorpio auch unbedingt lesen:
http://www.goldseiten.de/content/firmen/scorpio/index.phpich mach´s ma kurz, um hier Platz zu sparen:
bitte am Anfang an zulesen
http://www.peketec.de/phpBB2/viewtopic.php?t=163&postdays=0&postorder=desc&start=20
mal schmökern und bei Nachfragen stehe selbstverständlich zur Verfügung!
@ greenhorn ....bzgl. Scorpio
Hast Du da nähere Infos zu?
- nächsten Steps
- ausstehende Bohrergebnisse
- geplante PPs
etc.
Hört sich interessant an und evnt. leg ich mir ein paar ins Depot!!
thx...
einer dieser Werte iss zum Beispiel Scorpio Mining.........mann wie lange hab ich die schonsehr lange.......aber jetzt kommen sie wirklich in die heiße Building-Phase und das letzte PP wurde denen förmlich aus der Hand gerissen, kaum hier irgendwo besprochen.
hat mich überrascht das der Rohstoffspiegle sie vorgestellt hat......
aber die werden Ihren Weg machen! bis zu Produktion sind m.M. nach eine Verdoppelung möglich und wenn Cashflow fließt werden sie bald übernommen
Kannst Du dennoch kurz das Verhältnis von MK/Unzen OZ einstellen?
EDIT: Leider wird Scorpio - unter dem sowieso sehr interessanten Link http://www.resourcestockguide.com/comparison_table_page.php?p=4|4|3|0|0|33|0 - nicht aufgeführt.
LARGO RESOURCES LTD
Largo Intersects 53.6 Metres Grading 0.32% Tungsten at Northern Dancer Tungsten-Molybdenum Project, Yukon
11/13/2007
- LT07-73 intersects 339.90 metres grading 0.15% Tungsten (WO3) and 0.03% Molybdenum (Mo) including 53.60 metres grading 0.32% WO3 and 0.02% Mo
TORONTO, ONTARIO, Nov 13, 2007 (MARKET WIRE via COMTEX News Network) --
Largo Resources Ltd. (TSX VENTURE: LGO) announces that it has received results for three (3) drill holes totalling 486 samples which is part of the recently completed drill program of 26 holes totalling 8,494 metres at the Company's 1,500 hectare Northern Dancer Tungsten-Molybdenum property which straddles the Yukon-British Colombia border 290 kilometres east of Whitehorse. The drill program focussed on upgrading and expanding the mineral resource reported in the April 2, 2007 press release as well as further defining the higher grade tungsten and molybdenum zones. Preliminary pit modelling was done in order to help maximize the effectiveness of the drill program.
Observations from logging of drill core indicate that numerous quartz veins and veinlets were intersected containing varying amounts of scheelite and molybdenite. As of November 9th 2007, 2442 samples had been sent to Acme Analytical Laboratories Ltd. in Vancouver. This includes samples from the first 13 drill holes. Largo is experiencing delays in receiving assay results as Acme's laboratory is extremely backed up. Largo has received results for only 486 samples at this time. Assays are pending on the remaining 1956 samples. Core logging has been completed on 15 holes with 10 holes remaining to be logged. The remaining 12 holes are being cut and sampled.
Results from the first three holes received from Acme Labs are summarized in Table 1 below.
The Northern Dancer property hosts widespread tungsten-molybdenum porphyry style mineralization, the core of which has been partially delineated by 68 diamond drill holes and 496 metres of underground workings. This work was done by AMAX Minerals Exploration from 1977 to 1980 and by Largo Resources which completed a 17-hole diamond drill program in 2006. On April 2, 2007, Largo announced a NI 43-101 compliant inferred mineral resource of 242.0 million tonnes grading 0.10% WO3 and 0.047% MoS2 containing 508.1 million lbs. tungsten (WO3) and 151.0 million lbs. molybdenum (Mo) confirming Northern Dancer as one of the largest undeveloped tungsten-molybdenum deposits in the world. This resource includes a higher grade Mo zone of 36.8 million tonnes of 0.085% MoS2; more drilling is required to define a higher grade tungsten resource.
Andy Campbell, Vice President, Exploration commented: "We are very encouraged with the initial results as the focus of the 2007 drill program has been to define the extent of the higher-grade tungsten and molybdenum zones intersected in the 2006 program. Largo has completed a series of angled drill hole fences across the deposit to fully test the higher-grade zones." He continued, "historical drill holes were vertical to subvertical and hence did not adequately test the typically steeply dipping quartz-scheelite veins within which higher tungsten grades are associated. Our work indicates that major structures may have controlled the distribution of mineralization, especially tungsten, more than previously thought and these structures have been tested in the current drill program."
The Northern Dancer deposit is one of the world's largest known tungsten-molybdenum porphyry systems. The mineralization is hosted in fractures and veins associated with a northeast-trending sheeted vein system in calc-silicate (skarn) rocks and spatially related to a felsic intrusion (quartz-feldspar porphyry). The deposit, which has been tested by drilling of 750 metres along strike, 500 metres vertically and 600 metres in width, remains open along strike to both the northeast and southwest as well as at depth.
Tungsten and molybdenum mineralization are concentrated in two zones which partially overlap. In the core of the deposit, there is a higher-grade molybdenum zone where molybdenite occurs within and adjacent to the felsic intrusion. Surrounding and partially overlapping the molybdenum zone is a much more extensive tungsten zone where scheelite occurs in northeast-trending sheeted quartz veins in skarn.
Analytical work is being carried out at Acme Analytical Laboratories Ltd. in Vancouver, British Columbia, an ISO 9001-2000 certified laboratory. The samples are crushed to 70% passing 10 mesh, split to 250 g and pulverized to 95% passing 150 mesh. A 5-gram split is analyzed for Mo and W using a phosphoric acid leach followed by ICP-emission spectrometry. Then a second 5-gram split is analyzed for 36 elements by ICP-mass spectrometry using a hot (95 degrees centigrade) aqua regia leach. Routine check assays are performed at SGS Minerals in Lakefield, Ontario on sample rejects. Largo employs a systematic 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
Disclaimer
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations, production levels and costs, estimates regarding mineral resources, projections regarding mineral prices anticipated revenues and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Table 1: Summary of Significant Assay Results - Northern Dancer Property,
Yukon
---------------------------------------------------------------------------
Hole Number From To WO3% Mo% Interval (metres)
---------------------------------------------------------------------------
LT07-73 0.00 339.90 0.15 0.03 339.90
including 9.60 22.90 0.20 0.02 13.30
including 99.00 162.00 0.18 0.03 63.00
including 234.40 288.00 0.32 0.02 53.60
---------------------------------------------------------------------------
LT07-74 176.00 202.20 0.08 0.01 26.20
and 248.00 266.00 0.09 0.03 18.00
---------------------------------------------------------------------------
LT07-78 75.00 139.00 0.12 0.02 64.00
including 93.00 108.00 0.17 0.02 15.00
---------------------------------------------------------------------------
Please note that management believes that the intervals provided in the
table above closely approximate true widths.
Drill hole Information - Northern Dancer Property, Yukon
---------------------------------------------------------------------------
Hole Number Northing Easting Elevation Azimuth Dip
---------------------------------------------------------------------------
LT07-73 6,654,970 354,600 1527 135 -45
LT07-74 6,654,588 354,507 1720 315 -45
LT07-78 6,654,740 354,296 1697 135 -50
---------------------------------------------------------------------------
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Largo Resources Ltd. Mark Brennan President & CEO (416) 861-5886 Email: mbrennan@largoresources.com Largo Resources Ltd. Tony LaMantia VP, Corporate Development (416) 861-5882 Email: tlamantia@largoresources.com Website: www.largoresources.com
SOURCE: Largo Resources Ltd.
mailto:mbrennan@largoresources.com mailto:tlamantia@largoresources.com http://www.largoresources.com
Copyright 2007 Market Wire, All rights reserved.
Largo Intersects 53.6 Metres Grading 0.32% Tungsten at Northern Dancer Tungsten-Molybdenum Project, Yukon
11/13/2007
- LT07-73 intersects 339.90 metres grading 0.15% Tungsten (WO3) and 0.03% Molybdenum (Mo) including 53.60 metres grading 0.32% WO3 and 0.02% Mo
TORONTO, ONTARIO, Nov 13, 2007 (MARKET WIRE via COMTEX News Network) --
Largo Resources Ltd. (TSX VENTURE: LGO) announces that it has received results for three (3) drill holes totalling 486 samples which is part of the recently completed drill program of 26 holes totalling 8,494 metres at the Company's 1,500 hectare Northern Dancer Tungsten-Molybdenum property which straddles the Yukon-British Colombia border 290 kilometres east of Whitehorse. The drill program focussed on upgrading and expanding the mineral resource reported in the April 2, 2007 press release as well as further defining the higher grade tungsten and molybdenum zones. Preliminary pit modelling was done in order to help maximize the effectiveness of the drill program.
Observations from logging of drill core indicate that numerous quartz veins and veinlets were intersected containing varying amounts of scheelite and molybdenite. As of November 9th 2007, 2442 samples had been sent to Acme Analytical Laboratories Ltd. in Vancouver. This includes samples from the first 13 drill holes. Largo is experiencing delays in receiving assay results as Acme's laboratory is extremely backed up. Largo has received results for only 486 samples at this time. Assays are pending on the remaining 1956 samples. Core logging has been completed on 15 holes with 10 holes remaining to be logged. The remaining 12 holes are being cut and sampled.
Results from the first three holes received from Acme Labs are summarized in Table 1 below.
The Northern Dancer property hosts widespread tungsten-molybdenum porphyry style mineralization, the core of which has been partially delineated by 68 diamond drill holes and 496 metres of underground workings. This work was done by AMAX Minerals Exploration from 1977 to 1980 and by Largo Resources which completed a 17-hole diamond drill program in 2006. On April 2, 2007, Largo announced a NI 43-101 compliant inferred mineral resource of 242.0 million tonnes grading 0.10% WO3 and 0.047% MoS2 containing 508.1 million lbs. tungsten (WO3) and 151.0 million lbs. molybdenum (Mo) confirming Northern Dancer as one of the largest undeveloped tungsten-molybdenum deposits in the world. This resource includes a higher grade Mo zone of 36.8 million tonnes of 0.085% MoS2; more drilling is required to define a higher grade tungsten resource.
Andy Campbell, Vice President, Exploration commented: "We are very encouraged with the initial results as the focus of the 2007 drill program has been to define the extent of the higher-grade tungsten and molybdenum zones intersected in the 2006 program. Largo has completed a series of angled drill hole fences across the deposit to fully test the higher-grade zones." He continued, "historical drill holes were vertical to subvertical and hence did not adequately test the typically steeply dipping quartz-scheelite veins within which higher tungsten grades are associated. Our work indicates that major structures may have controlled the distribution of mineralization, especially tungsten, more than previously thought and these structures have been tested in the current drill program."
The Northern Dancer deposit is one of the world's largest known tungsten-molybdenum porphyry systems. The mineralization is hosted in fractures and veins associated with a northeast-trending sheeted vein system in calc-silicate (skarn) rocks and spatially related to a felsic intrusion (quartz-feldspar porphyry). The deposit, which has been tested by drilling of 750 metres along strike, 500 metres vertically and 600 metres in width, remains open along strike to both the northeast and southwest as well as at depth.
Tungsten and molybdenum mineralization are concentrated in two zones which partially overlap. In the core of the deposit, there is a higher-grade molybdenum zone where molybdenite occurs within and adjacent to the felsic intrusion. Surrounding and partially overlapping the molybdenum zone is a much more extensive tungsten zone where scheelite occurs in northeast-trending sheeted quartz veins in skarn.
Analytical work is being carried out at Acme Analytical Laboratories Ltd. in Vancouver, British Columbia, an ISO 9001-2000 certified laboratory. The samples are crushed to 70% passing 10 mesh, split to 250 g and pulverized to 95% passing 150 mesh. A 5-gram split is analyzed for Mo and W using a phosphoric acid leach followed by ICP-emission spectrometry. Then a second 5-gram split is analyzed for 36 elements by ICP-mass spectrometry using a hot (95 degrees centigrade) aqua regia leach. Routine check assays are performed at SGS Minerals in Lakefield, Ontario on sample rejects. Largo employs a systematic 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
Disclaimer
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations, production levels and costs, estimates regarding mineral resources, projections regarding mineral prices anticipated revenues and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Table 1: Summary of Significant Assay Results - Northern Dancer Property,
Yukon
---------------------------------------------------------------------------
Hole Number From To WO3% Mo% Interval (metres)
---------------------------------------------------------------------------
LT07-73 0.00 339.90 0.15 0.03 339.90
including 9.60 22.90 0.20 0.02 13.30
including 99.00 162.00 0.18 0.03 63.00
including 234.40 288.00 0.32 0.02 53.60
---------------------------------------------------------------------------
LT07-74 176.00 202.20 0.08 0.01 26.20
and 248.00 266.00 0.09 0.03 18.00
---------------------------------------------------------------------------
LT07-78 75.00 139.00 0.12 0.02 64.00
including 93.00 108.00 0.17 0.02 15.00
---------------------------------------------------------------------------
Please note that management believes that the intervals provided in the
table above closely approximate true widths.
Drill hole Information - Northern Dancer Property, Yukon
---------------------------------------------------------------------------
Hole Number Northing Easting Elevation Azimuth Dip
---------------------------------------------------------------------------
LT07-73 6,654,970 354,600 1527 135 -45
LT07-74 6,654,588 354,507 1720 315 -45
LT07-78 6,654,740 354,296 1697 135 -50
---------------------------------------------------------------------------
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Largo Resources Ltd. Mark Brennan President & CEO (416) 861-5886 Email: mbrennan@largoresources.com Largo Resources Ltd. Tony LaMantia VP, Corporate Development (416) 861-5882 Email: tlamantia@largoresources.com Website: www.largoresources.com
SOURCE: Largo Resources Ltd.
mailto:mbrennan@largoresources.com mailto:tlamantia@largoresources.com http://www.largoresources.com
Copyright 2007 Market Wire, All rights reserved.
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