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Rohstoffthread (Archiv)
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kinders, das was da an der TSX passiert ist langsam nicht mehr witzig!
ich sitz auf ERHEBLICHEN Buchverlusten...
ich sitz auf ERHEBLICHEN Buchverlusten...
Dito! Das ist auch die Meinung, die ich gestern hier vertreten habe.
Die Art und Weise der Abverkäufe zeigt ne Art Dominoeffekt auf.
Die Abverkäufe kamen in Wellen. Scheint als ob Hedgefonds und Privatanleger sich gegenseitig im Abwärtssog nach unten in ihren Verkäufen beschleunigt haben.
Bei manchen Werten sind mir dafür aber die Umsätze zu schwach. denke diese wurden schlichtweg in Sippenhaft genommen.
Der Ausverkauf und das außer Acht lassen jeglicher relevanter Bewertungsmaßstäbe zehrt an den Nerven ... ohne Frage!
Mal sehen wann damit Schluss ist.....
Die Art und Weise der Abverkäufe zeigt ne Art Dominoeffekt auf.
Die Abverkäufe kamen in Wellen. Scheint als ob Hedgefonds und Privatanleger sich gegenseitig im Abwärtssog nach unten in ihren Verkäufen beschleunigt haben.
Bei manchen Werten sind mir dafür aber die Umsätze zu schwach. denke diese wurden schlichtweg in Sippenhaft genommen.
Der Ausverkauf und das außer Acht lassen jeglicher relevanter Bewertungsmaßstäbe zehrt an den Nerven ... ohne Frage!
Mal sehen wann damit Schluss ist.....
[url=http://peketec.de/trading/viewtopic.php?p=475570#475570 schrieb:
Stuttgart Die steigende Nachfrage in China, Indien und anderen Schwellenländern beschleunigt den Anstieg des Kakaopreises. Auch der Trend zu dunkler Edelschokolade mit hohem Kakaoanteil trägt zu einer Zunahme der Kakaoverarbeitung in den USA und Europa bei. Man rechnet damit, dass weltweit die Nachfrage im laufenden Jahr um 5 Prozent auf 3,75 Millionen Tonnen steigt.
In einem Interview mit der "Handelszeitung" sagte der Konzernchef des weltgrössten Schokolade- und Kakaokonzerns Barry Callebaut, Patrick de Maeseneire, dass die Verkaufspreise von Schokoladeprodukten um bis zu 18 Prozent steigen müssen. Der Kakaopreis habe sich in den letzten zwölf Monaten verdoppelt. Bei einer 100-Gramm-Tafel Schokolade machen die Rohstoffpreise rund 25 Prozent aus, davon entfalle auf Kakao die Hälfte.
Hinzu kämen höhere Verpackungs-, Energie- und Transportkosten. gl
[url=http://peketec.de/trading/viewtopic.php?p=475737#475737 schrieb:
Rückblick: Silber vollzog nach einem Zwischenhoch bei $19,46 im Juni eine hochdynamische Abwärtsbewegung, welche zum Bruch wichtiger, charttechnischer Unterstützungsmarken führte. Starker Abgabedruck ließ das Edelmetall bis auf ein Tief bei $12,21 abstürzen, wo Ende Mitte August eine Kurserholung startete.
Doch bereits am letzten Zwischentief bei $13,99 endete die mehrtägige Kurserholung, Silber kippte wieder nach unten. In den letzten Tagen kam wieder Verkaufsdruck auf, das Edelmetall rutscht aktuell auf neue Jahrestiefs ab. Das kurzfristige Chartbild ist bärisch zu werten.
Charttechnischer Ausblick: Der heutige Rückfall auf neue Tiefs bringt zunächst ein weiteres Verkaufsignal mit sich, das Edelmetall will zunächst weiter abwärts. Bei $11,45 findet Silber jetzt aber bereits wieder Unterstützung in Form des langfristigen Abwärtstrends seit Juni 2003. An dieser Trendlinie könnte der Kursrutsch zunächst stoppen und eine Gegenbewegung nach oben hin initiiert werden. Ob anschließend größere Kursgewinne möglich werden, bleibt abzuwarten. Zumindest würde sich der Aufwärtstrend - insbesondere nach einem kurzen Fehlausbruch nach unten - für eine kurzfristige Trendwende nach oben hin anbieten.
Aufwärts dürfte es jetzt erst wieder bei einem nachhaltigen Anstieg über $12,80 gehen. Eine Kurserholung bis $13,99 und darüber ggf. $14,50 - 14,70 würde dann möglich werden. Allerdings dominieren kurzfristig weiterhin die Bären den Markt, das bleibt festzuhalten.
Ein signifikanter Rückfall per Tagesschluss unter $11,25 wäre sehr negativ zu werten, die Aufgabe des langfristigen Aufwärtstrends könnte dann wieder zu verstärktem Verkaufsdruck führen und Silber bis $10,36 und darunter $9,30 - 9,40. würde jetzt für ein Ende der Erholung sprechen und wieder fallende Kurse bis $12,21 und 11,99 ermöglichen. .
Ich warte ob die 11 hält! Auf der 11,25 schleicht er rum!
Öl: Dreimal mehr Verbrauch als Neufunde
Datum 10.09.2008 - Uhrzeit 11:20 (© BörseGo AG 2007, Autor: Stanzl Jochen, Redakteur, © GodmodeTrader - http://www.godmode-trader.de/)
WKN: | ISIN: XC0007924514 | Intradaykurs:
Ein großer Teil der langfristig positiven Aussichten für den Ölmarkt kann an der Tatsache festgemacht werden, dass die Menschheit heute viel mehr Öl verbraucht, als sie auf der Erde finden kann. Weltweit werden jährlich rund 310 Milliarden Barrels Öl jährlich gefördert, im Durchschnitt der letzten zehn Jahre wurden aber nur 100 Milliarden Barrels gefunden. Die meisten Berechnungen zeigen, dass die Menschheit bereits die Hälfte des Öls, das über die letzten 100 Millionen Jahre entstanden ist, verbraucht hat. Dem entgegen steht die Tatsache, dass die Nachfrage in den Schwellenländern durch wachsenden Wohlstand zunimmt, während gleichzeitig das Bevölkerungswachstum weiter anhält. Da große Neufunde ausbleiben, dürften die Preise langfristig weiter steigen. Der jüngste Rückgang der Preise von 150 auf 110 US-Dollar/Barrel ist vor allem darauf zurückzuführen, dass die Fokussierung der Marktteilnehmer von diesen übergeordneten, positiven Faktoren auf die kurzfristige, negative Konjunkturentwicklung gesprungen ist.
Datum 10.09.2008 - Uhrzeit 11:20 (© BörseGo AG 2007, Autor: Stanzl Jochen, Redakteur, © GodmodeTrader - http://www.godmode-trader.de/)
WKN: | ISIN: XC0007924514 | Intradaykurs:
Ein großer Teil der langfristig positiven Aussichten für den Ölmarkt kann an der Tatsache festgemacht werden, dass die Menschheit heute viel mehr Öl verbraucht, als sie auf der Erde finden kann. Weltweit werden jährlich rund 310 Milliarden Barrels Öl jährlich gefördert, im Durchschnitt der letzten zehn Jahre wurden aber nur 100 Milliarden Barrels gefunden. Die meisten Berechnungen zeigen, dass die Menschheit bereits die Hälfte des Öls, das über die letzten 100 Millionen Jahre entstanden ist, verbraucht hat. Dem entgegen steht die Tatsache, dass die Nachfrage in den Schwellenländern durch wachsenden Wohlstand zunimmt, während gleichzeitig das Bevölkerungswachstum weiter anhält. Da große Neufunde ausbleiben, dürften die Preise langfristig weiter steigen. Der jüngste Rückgang der Preise von 150 auf 110 US-Dollar/Barrel ist vor allem darauf zurückzuführen, dass die Fokussierung der Marktteilnehmer von diesen übergeordneten, positiven Faktoren auf die kurzfristige, negative Konjunkturentwicklung gesprungen ist.
ja, da kommt was auf uns zu - da waren dann 150$ / Barrel mal eben preiswert........... 
iss doch so das jetzt wo der Preis wieder runter ist kaum noch jemand schreit - einfach vergessen
iss doch so das jetzt wo der Preis wieder runter ist kaum noch jemand schreit - einfach vergessen
[url=http://peketec.de/trading/viewtopic.php?p=475892#475892 schrieb:
geht mir ähnlich....
im nachhinein wissen wir ja, wann wir hätten aussteigen sollen
als vor ein paar wochen die nachrichten kamen, dass große pensionsfonds und staatsfonds
massiv die nächsten jahre ihre gewichtungen im depot in der assetklasse rohstoffe aufstocken wollen.......
habe mich auch verarschen lassen, bravo
im nachhinein wissen wir ja, wann wir hätten aussteigen sollen
als vor ein paar wochen die nachrichten kamen, dass große pensionsfonds und staatsfonds
massiv die nächsten jahre ihre gewichtungen im depot in der assetklasse rohstoffe aufstocken wollen.......
habe mich auch verarschen lassen, bravo
[url=http://peketec.de/trading/viewtopic.php?p=475546#475546 schrieb:Fischlaender schrieb am 10.09.2008, 08:50 Uhr[/url]"]kinders, das was da an der TSX passiert ist langsam nicht mehr witzig!
ich sitz auf ERHEBLICHEN Buchverlusten...
Crowflight Minerals Inc (C:CML)
Shares Issued 269,689,323
Last Close 9/9/2008 $0.22
Wednesday September 10 2008 - News Release
Mr. Mike Hoffman reports
CROWFLIGHT DISCOVERS TWO NEW ZONES OF MINERALIZATION NEAR PAST-PRODUCING MANIBRIDGE MINE
Crowflight Minerals Inc. has released results from exploration activities conducted in partnership with Pure Nickel Inc. near the past-producing Manibridge nickel mine. The program, initiated in June of 2008, focused on the investigation of several high caliber nickel exploration targets located near the site of historical mining activity conducted by Falconbridge Ltd. during the early 1970s on the property.
Drilling has resulted in the discovery of two nickel zones located within 400 metres of past production and has confirmed an extension to the Manibridge deposit itself at depth. Assay results from the program include: 16.75 metres grading 1.38% nickel from hole MN08-01, 5.45 metres grading 1.18% nickel from hole MN08-02, and 6.3 metres grading 1.37% nickel from hole MN08-04. Table 1 summarizes all assay results from the drilling program.
SUMMARY OF ASSAY RESULTS
Hole-ID From To Width Width Ni%
(m) (feet)
MN08-01 134.10 137.26 3.16 10.37 0.95
and 169.50 186.25 16.75 54.95 1.38
incl. 177.25 186.25 9.00 29.53 1.51
MN08-02 438.25 443.70 5.45 17.88 1.18
MN08-03 Hole lost in casing
MN08-04 434.86 465.78 30.92 101.44 0.95
incl. 455.20 461.50 6.30 20.67 1.37
MN08-05 No significant results
MN08-06 No significant results
Intersection intervals reported are core lengths, actual true widths are unknown at this time but are generally 70% to 80% of core length. Once known, true widths will be calculated for each intersection. These could vary somewhat from time to time as the zones are re-interpreted thereby altering the geometry.
The objective of this phase of the program was to identify new occurrences of mineralization associated with interpreted extensions to the Manibridge mine stratigraphy. Crowflight's V.P. Exploration, Greg Collins commented on the results of the summer program stating: "We are pleased with the results from our first investigations near Manibridge as we continue to identify new sources of potential mill-feed proximal to our operations at the Bucko Lake Nickel Project. Additional drilling in these areas is required to assess the resource potential of the intercepted mineralization, but for now the future looks promising near Manibridge."
Discussion of Results
MN08-01 - Intersected 16.75 metres grading 1.38% nickel including 9.0 metres grading 1.51% nickel associated with a new, near surface zone located approximately 300 metres north of past production at Manibridge. This zone remains open for expansion to the south and at depth.
MN08-02 - Intersected 5.45 metres grading 1.18% nickel that occurs 50 metres below anomalous mineralization intercepted by historical drilling from underground drilling in exploration drift at Manibridge. This zone remains open for expansion at depths below 300 metres vertical.
MN08-03 - Hole was lost in casing at depth of 141 metres.
MN08-04 - Intersected 6.30 metres grading 1.37% nickel within broader zone grading 0.95% nickel over 30.92 metres. This intercept confirms than an extension of the Manibridge trend is open at vertical depths below 400 metres and that a recently modelled interpretation for the plunge of the deposit to the north, away from previously investigated areas may be correct.
MN08-05 - Intersected key nickel hosting ospwagon stratigraphy and ultramafic rocks in the vicinity of the targeted magnetic feature but did not encounter any significant nickel mineralization. Based on the magnetic model and the drilling results, greater thicknesses of ultramafic would be expected if additional drilling was to be completed south of this hole.
MN08-06 - Intersected magnetic gneiss associated with what is interpreted to be key nickel hosting ospwagon stratgraphy explaining targeted anomaly. No significant nickel values returned.
A total of six holes comprising 2,496 metres were completed. All holes will be probed using downhole time domain EM geophysical instruments in preparation for a program of follow-up drilling to commence in the coming months. The Manibridge property is located approximately 20 kilometres south of Crowflight's mine and mill complex located at Bucko Lake, near Wabowden, Manitoba. Please refer to Figure 1 for a map depicting the location of the Manibridge Property and Figure 2 depicting the location of the discovered mineralization relative to previous drilling and past production at Manibridge.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), a Qualified Person under the National Instrument 43-101 guidelines. Fire assays were performed at the ALS-Chemex laboratory in Vancouver on all the samples for Gold and PGEs which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch.
© 2008 Canjex Publishing Ltd.
Shares Issued 269,689,323
Last Close 9/9/2008 $0.22
Wednesday September 10 2008 - News Release
Mr. Mike Hoffman reports
CROWFLIGHT DISCOVERS TWO NEW ZONES OF MINERALIZATION NEAR PAST-PRODUCING MANIBRIDGE MINE
Crowflight Minerals Inc. has released results from exploration activities conducted in partnership with Pure Nickel Inc. near the past-producing Manibridge nickel mine. The program, initiated in June of 2008, focused on the investigation of several high caliber nickel exploration targets located near the site of historical mining activity conducted by Falconbridge Ltd. during the early 1970s on the property.
Drilling has resulted in the discovery of two nickel zones located within 400 metres of past production and has confirmed an extension to the Manibridge deposit itself at depth. Assay results from the program include: 16.75 metres grading 1.38% nickel from hole MN08-01, 5.45 metres grading 1.18% nickel from hole MN08-02, and 6.3 metres grading 1.37% nickel from hole MN08-04. Table 1 summarizes all assay results from the drilling program.
SUMMARY OF ASSAY RESULTS
Hole-ID From To Width Width Ni%
(m) (feet)
MN08-01 134.10 137.26 3.16 10.37 0.95
and 169.50 186.25 16.75 54.95 1.38
incl. 177.25 186.25 9.00 29.53 1.51
MN08-02 438.25 443.70 5.45 17.88 1.18
MN08-03 Hole lost in casing
MN08-04 434.86 465.78 30.92 101.44 0.95
incl. 455.20 461.50 6.30 20.67 1.37
MN08-05 No significant results
MN08-06 No significant results
Intersection intervals reported are core lengths, actual true widths are unknown at this time but are generally 70% to 80% of core length. Once known, true widths will be calculated for each intersection. These could vary somewhat from time to time as the zones are re-interpreted thereby altering the geometry.
The objective of this phase of the program was to identify new occurrences of mineralization associated with interpreted extensions to the Manibridge mine stratigraphy. Crowflight's V.P. Exploration, Greg Collins commented on the results of the summer program stating: "We are pleased with the results from our first investigations near Manibridge as we continue to identify new sources of potential mill-feed proximal to our operations at the Bucko Lake Nickel Project. Additional drilling in these areas is required to assess the resource potential of the intercepted mineralization, but for now the future looks promising near Manibridge."
Discussion of Results
MN08-01 - Intersected 16.75 metres grading 1.38% nickel including 9.0 metres grading 1.51% nickel associated with a new, near surface zone located approximately 300 metres north of past production at Manibridge. This zone remains open for expansion to the south and at depth.
MN08-02 - Intersected 5.45 metres grading 1.18% nickel that occurs 50 metres below anomalous mineralization intercepted by historical drilling from underground drilling in exploration drift at Manibridge. This zone remains open for expansion at depths below 300 metres vertical.
MN08-03 - Hole was lost in casing at depth of 141 metres.
MN08-04 - Intersected 6.30 metres grading 1.37% nickel within broader zone grading 0.95% nickel over 30.92 metres. This intercept confirms than an extension of the Manibridge trend is open at vertical depths below 400 metres and that a recently modelled interpretation for the plunge of the deposit to the north, away from previously investigated areas may be correct.
MN08-05 - Intersected key nickel hosting ospwagon stratigraphy and ultramafic rocks in the vicinity of the targeted magnetic feature but did not encounter any significant nickel mineralization. Based on the magnetic model and the drilling results, greater thicknesses of ultramafic would be expected if additional drilling was to be completed south of this hole.
MN08-06 - Intersected magnetic gneiss associated with what is interpreted to be key nickel hosting ospwagon stratgraphy explaining targeted anomaly. No significant nickel values returned.
A total of six holes comprising 2,496 metres were completed. All holes will be probed using downhole time domain EM geophysical instruments in preparation for a program of follow-up drilling to commence in the coming months. The Manibridge property is located approximately 20 kilometres south of Crowflight's mine and mill complex located at Bucko Lake, near Wabowden, Manitoba. Please refer to Figure 1 for a map depicting the location of the Manibridge Property and Figure 2 depicting the location of the discovered mineralization relative to previous drilling and past production at Manibridge.
Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), a Qualified Person under the National Instrument 43-101 guidelines. Fire assays were performed at the ALS-Chemex laboratory in Vancouver on all the samples for Gold and PGEs which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch.
© 2008 Canjex Publishing Ltd.
SOURCE: Tournigan Energy Ltd.
Sep 10, 2008 08:15 ET
Tournigan Adds Uranium Mineralization at Kuriskova and Novoveska Huta
VANCOUVER, BC--(Marketwire - September 10, 2008) - Tournigan Energy Ltd. (TSX-V: TVC) (FRANKFURT: TGP) announced today the results of eight diamond drill holes at its Kuriskova deposit and one step-out diamond drill hole at its Novoveska Huta uranium deposit, both located in eastern Slovakia. Highlights of this news release include the following:
* Infill drilling at Kuriskova confirmed the presence of high grade uranium
mineralization. Significant drill hole intersections include:
LH-K-8A: 2.3 metres at 0.809 % eU3O8 (including 1.3m @ 1.121 % eU3O8)
LH-K-9A: 1.4 metres at 0.776 % eU3O8 (including 0.7m @ 1.447 % eU3O8)
LH-K-9C: 1.7 metres at 0.549 % eU3O8 (including 0.7m @ 1.065 % eU3O8)
Forsys eiert bei 0,44% herum TGP hat 20 Mio Cad Cash,gestern Fondliquidierung
* Mineralization was added at depth at Kuriskova
* Mineralization at Novoveska Huta was extended 100 metres further east by
drill hole LH-NH-12:
LH-NH-12: 24 metres at 0.106 % eU3O8 (including 17.6m @ 0.131 % eU3O8)
* Drilling continues at Kuriskova and Novoveska Huta
* Tournigan adds to exploration team
Kuriskova
The eight infill drill holes at Kuriskova include seven holes drilled within the higher grade areas of the main zone at depths of between 383 metres and 503 metres and one deep hole, drilled to a depth of 741 metres, which adds uranium mineralization at depth at Kuriskova. The holes announced today were drilled after the previously disclosed resource estimate released July 16, 2008. Results from the downhole radiometric logging are as follows:
-----------------------------------------------------------
Kuriskova Uranium Deposit, Slovakia
-----------------------------------------------------------
Hole Intersection From To Length %eU3O8
-----------------------------------------------------------
KG-J-29B I 713.7 721.4 7.7 0.115
-----------------------------------------------------------
LH-K-5A I 463.5 468.8 5.3 0.102
including 468.2 468.7 0.5 0.362
----------------------------------------------
II 473 477 4 0.094
----------------------------------------------
III 481.3 482.2 0.9 0.256
----------------------------------------------
including 481.7 482.2 0.5 0.403
-----------------------------------------------------------
LH-K-6A I 448.4 453.3 4.9 0.253
----------------------------------------------
including 450.2 451.3 1.1 0.601
----------------------------------------------
including 452.8 453.2 0.4 0.728
----------------------------------------------
II 457 457.5 0.5 0.155
-----------------------------------------------------------
LH-K-8A I 351.8 355 3.2 0.063
----------------------------------------------
II 357.6 358.6 1 0.087
----------------------------------------------
III 361.6 363.9 2.3 0.809
----------------------------------------------
including 362.4 363.7 1.3 1.121
-----------------------------------------------------------
LH-K-8B I 363.9 365.7 1.8 0.494
-----------------------------------------------------------
LH-K-9A I 435.4 436.8 1.4 0.776
----------------------------------------------
including 435.9 436.6 0.7 1.447
----------------------------------------------
II 439.3 439.9 0.6 0.511
-----------------------------------------------------------
LH-K-9B I 342.5 343.7 1.2 0.199
----------------------------------------------
II 344.9 345.8 0.9 0.225
-----------------------------------------------------------
LH-K-9C I 376.5 378.2 1.7 0.549
----------------------------------------------
including 376.6 377.3 0.7 1.065
-----------------------------------------------------------
"The results from our recent infill drilling demonstrate the continuity and robust nature of the Kuriskova mineralization," said Dorian L. (Dusty) Nicol, Tournigan's President and CEO. "We plan to continue our drilling program during the rest of the year with the objective of upgrading a significantly larger portion of the Kuriskova resource to the indicated category as well as adding uranium resources at depth."
A longitudinal projection showing drill locations with results can be viewed from this link: http://www.tournigan.com/i/pdf/20080910KuriskovaResourceLP.pdf.
A NI 43-101 estimate, announced July 16, 2008 and prepared by SRK Consulting (U.S.) Inc., upgraded a portion of the Kuriskova deposit to the indicated category at higher grade than previously estimated. The estimate includes an indicated resource of 6.6 million pounds of U3O8 contained in 685,000 tonnes grading 0.435% U3O8 and an inferred resource of 30.1 million pounds of U3O8 contained in 4.56 million tonnes grading 0.299% U3O8, using a cut-off of 0.05%.
Novoveska Huta
At the Novoveska Huta deposit, Tournigan today released the results of one step-out hole, LH-NH-12, drilled to a depth of 785 metres. The hole was drilled 166 metres east of previously disclosed hole LH-NH-11. Results from the downhole radiometric logging of hole LH-NH-12 are as follows:
-----------------------------------------------------------
Novoveska Huta Uranium Deposit, Slovakia
-----------------------------------------------------------
Hole Intersection From To Length %eU3O8
-----------------------------------------------------------
LH-NH-12 I* 690.2 696.4 6.2 0.157
----------------------------------------------
II* 755.8 779.8 24 0.106
----------------------------------------------
including 755.8 773.4 17.6 0.131
-----------------------------------------------------------
* Two intersections of LH-NH-12 are from the same ore body
truncated by a fault
A plan map showing drill locations at Novoveska Huta can be viewed from this link: http://www.tournigan.com/i/maps/TVC-NVH-Plan_20080910.gif.
"This step-out hole shows that mineralization at Novoveska Huta extends along strike to the east," Nicol said. "We're following up with additional step-out holes to test the extension even further east. Our goal is to complete a 43-101 and CIM compliant resource by the end of the year that confirms and potentially improves on the historical resource; we expect the new resource to be not only larger but also higher grade than the historical resource estimate."
The uranium grades referred to above are reported as equivalent uranium (eU3O8) as determined by downhole radiometric logging equipment. The logging was performed by Koral, s.r.o. of Slovakia. Quality control and quality assurance is being provided by Ravi Sharma, Tournigan's Manager Resources and Reserves.
A historical (not NI 43-101 compliant) P & Z3* resource estimate prepared by former operator Uranpres in 2005 reported 19,970,000 pounds of uranium contained in 12 million tonnes at an average grade of 0.075% U3O8 (cutoff grade 0.015% U308) at Novoveska Huta.
Ravi Sharma, MAusIMM, Tournigan's Manager, Resources and Reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.
New Appointments
Tournigan Energy also announced today the appointments of Mr. Rich Eliason as Chief Geologist and Mr. Ravi Sharma as its full-time Manager, Resources and Reserves. Mr. Sharma had previously filled this role for Tournigan as a consultant.
Mr. Eliason has 25 years of experience in exploration and mining geology. He has spent the past 15 years working in the exploration and production departments at the Jerritt Canyon Mine in Nevada and at the Ketza River Mine in the Yukon Territory. He was a significant contributor to the discovery of over one million ounces of gold in the Jerritt Canyon District where he was Chief Mine Geologist. Mr. Eliason held the position of Exploration Manager, Yukon until his recent employment with Tournigan Energy Ltd. He is a qualified person for NI 43-101 reporting purposes and is a fellow of the Society of Economic Geologists.
Mr. Sharma has over 19 years experience as a mining and exploration geologist. Prior to joining Tournigan he worked as Chief Mine Geologist for Barrick Gold Corporation's Bulyanhulu Mine in Tanzania where he was responsible for mine geology and near mine exploration. He held the position of Chief Mine Geologist for Vedanta Resources, Zod Gold Mines in Armenia. Mr. Sharma is a member of AusIMM and a qualified person for NI 43-101 reporting purposes.
"The appointments of Rich and Ravi to these positions reflect Tournigan's renewed commitment to exploration," said Tournigan President and CEO, Dorian L. (Dusty) Nicol. "They are both proven orefinders and their contributions will be invaluable to Tournigan's ongoing programs to grow its existing deposits and discover new ones. I am delighted to welcome both of them on board."
About Tournigan Energy Ltd.
Tournigan is a uranium and gold exploration and development company that has built a portfolio of highly prospective assets in Europe and North America. The company has focused its development and obtained licenses in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and an educated population. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia and its other operational jurisdictions.
On behalf of the Board of Directors of
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
* The Company has reviewed the above historical resource estimates and views them relevant. The Company believes that the historical resource estimates are reliable based on the historic exploitation of Slovak deposits in general and metallurgical test records acquired with the Company's deposits in particular. The above Slovak Resource Category is a combination of P and Z-3, which is roughly analogous to the Canadian Institute of Mining, Metallurgy and Petroleum's definition for Inferred Resources. The Company has not, however, done the work necessary to verify the classification of the resources and the resources are not classified according to CIM's Standards on Mineral Resources and Reserves Definitions. Investors are cautioned not to rely upon these estimates. Uranium metal (U) grades were converted to uranium oxide (U3O8) grades using a factor of 1.17924.
Forward-looking statements: Certain of the statements made herein, including any information as to the Corporation's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as "measured," "indicated," and "inferred," "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 40-F which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Sep 10, 2008 08:15 ET
Tournigan Adds Uranium Mineralization at Kuriskova and Novoveska Huta
VANCOUVER, BC--(Marketwire - September 10, 2008) - Tournigan Energy Ltd. (TSX-V: TVC) (FRANKFURT: TGP) announced today the results of eight diamond drill holes at its Kuriskova deposit and one step-out diamond drill hole at its Novoveska Huta uranium deposit, both located in eastern Slovakia. Highlights of this news release include the following:
* Infill drilling at Kuriskova confirmed the presence of high grade uranium
mineralization. Significant drill hole intersections include:
LH-K-8A: 2.3 metres at 0.809 % eU3O8 (including 1.3m @ 1.121 % eU3O8)
LH-K-9A: 1.4 metres at 0.776 % eU3O8 (including 0.7m @ 1.447 % eU3O8)
LH-K-9C: 1.7 metres at 0.549 % eU3O8 (including 0.7m @ 1.065 % eU3O8)
Forsys eiert bei 0,44% herum TGP hat 20 Mio Cad Cash,gestern Fondliquidierung
* Mineralization was added at depth at Kuriskova
* Mineralization at Novoveska Huta was extended 100 metres further east by
drill hole LH-NH-12:
LH-NH-12: 24 metres at 0.106 % eU3O8 (including 17.6m @ 0.131 % eU3O8)
* Drilling continues at Kuriskova and Novoveska Huta
* Tournigan adds to exploration team
Kuriskova
The eight infill drill holes at Kuriskova include seven holes drilled within the higher grade areas of the main zone at depths of between 383 metres and 503 metres and one deep hole, drilled to a depth of 741 metres, which adds uranium mineralization at depth at Kuriskova. The holes announced today were drilled after the previously disclosed resource estimate released July 16, 2008. Results from the downhole radiometric logging are as follows:
-----------------------------------------------------------
Kuriskova Uranium Deposit, Slovakia
-----------------------------------------------------------
Hole Intersection From To Length %eU3O8
-----------------------------------------------------------
KG-J-29B I 713.7 721.4 7.7 0.115
-----------------------------------------------------------
LH-K-5A I 463.5 468.8 5.3 0.102
including 468.2 468.7 0.5 0.362
----------------------------------------------
II 473 477 4 0.094
----------------------------------------------
III 481.3 482.2 0.9 0.256
----------------------------------------------
including 481.7 482.2 0.5 0.403
-----------------------------------------------------------
LH-K-6A I 448.4 453.3 4.9 0.253
----------------------------------------------
including 450.2 451.3 1.1 0.601
----------------------------------------------
including 452.8 453.2 0.4 0.728
----------------------------------------------
II 457 457.5 0.5 0.155
-----------------------------------------------------------
LH-K-8A I 351.8 355 3.2 0.063
----------------------------------------------
II 357.6 358.6 1 0.087
----------------------------------------------
III 361.6 363.9 2.3 0.809
----------------------------------------------
including 362.4 363.7 1.3 1.121
-----------------------------------------------------------
LH-K-8B I 363.9 365.7 1.8 0.494
-----------------------------------------------------------
LH-K-9A I 435.4 436.8 1.4 0.776
----------------------------------------------
including 435.9 436.6 0.7 1.447
----------------------------------------------
II 439.3 439.9 0.6 0.511
-----------------------------------------------------------
LH-K-9B I 342.5 343.7 1.2 0.199
----------------------------------------------
II 344.9 345.8 0.9 0.225
-----------------------------------------------------------
LH-K-9C I 376.5 378.2 1.7 0.549
----------------------------------------------
including 376.6 377.3 0.7 1.065
-----------------------------------------------------------
"The results from our recent infill drilling demonstrate the continuity and robust nature of the Kuriskova mineralization," said Dorian L. (Dusty) Nicol, Tournigan's President and CEO. "We plan to continue our drilling program during the rest of the year with the objective of upgrading a significantly larger portion of the Kuriskova resource to the indicated category as well as adding uranium resources at depth."
A longitudinal projection showing drill locations with results can be viewed from this link: http://www.tournigan.com/i/pdf/20080910KuriskovaResourceLP.pdf.
A NI 43-101 estimate, announced July 16, 2008 and prepared by SRK Consulting (U.S.) Inc., upgraded a portion of the Kuriskova deposit to the indicated category at higher grade than previously estimated. The estimate includes an indicated resource of 6.6 million pounds of U3O8 contained in 685,000 tonnes grading 0.435% U3O8 and an inferred resource of 30.1 million pounds of U3O8 contained in 4.56 million tonnes grading 0.299% U3O8, using a cut-off of 0.05%.
Novoveska Huta
At the Novoveska Huta deposit, Tournigan today released the results of one step-out hole, LH-NH-12, drilled to a depth of 785 metres. The hole was drilled 166 metres east of previously disclosed hole LH-NH-11. Results from the downhole radiometric logging of hole LH-NH-12 are as follows:
-----------------------------------------------------------
Novoveska Huta Uranium Deposit, Slovakia
-----------------------------------------------------------
Hole Intersection From To Length %eU3O8
-----------------------------------------------------------
LH-NH-12 I* 690.2 696.4 6.2 0.157
----------------------------------------------
II* 755.8 779.8 24 0.106
----------------------------------------------
including 755.8 773.4 17.6 0.131
-----------------------------------------------------------
* Two intersections of LH-NH-12 are from the same ore body
truncated by a fault
A plan map showing drill locations at Novoveska Huta can be viewed from this link: http://www.tournigan.com/i/maps/TVC-NVH-Plan_20080910.gif.
"This step-out hole shows that mineralization at Novoveska Huta extends along strike to the east," Nicol said. "We're following up with additional step-out holes to test the extension even further east. Our goal is to complete a 43-101 and CIM compliant resource by the end of the year that confirms and potentially improves on the historical resource; we expect the new resource to be not only larger but also higher grade than the historical resource estimate."
The uranium grades referred to above are reported as equivalent uranium (eU3O8) as determined by downhole radiometric logging equipment. The logging was performed by Koral, s.r.o. of Slovakia. Quality control and quality assurance is being provided by Ravi Sharma, Tournigan's Manager Resources and Reserves.
A historical (not NI 43-101 compliant) P & Z3* resource estimate prepared by former operator Uranpres in 2005 reported 19,970,000 pounds of uranium contained in 12 million tonnes at an average grade of 0.075% U3O8 (cutoff grade 0.015% U308) at Novoveska Huta.
Ravi Sharma, MAusIMM, Tournigan's Manager, Resources and Reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.
New Appointments
Tournigan Energy also announced today the appointments of Mr. Rich Eliason as Chief Geologist and Mr. Ravi Sharma as its full-time Manager, Resources and Reserves. Mr. Sharma had previously filled this role for Tournigan as a consultant.
Mr. Eliason has 25 years of experience in exploration and mining geology. He has spent the past 15 years working in the exploration and production departments at the Jerritt Canyon Mine in Nevada and at the Ketza River Mine in the Yukon Territory. He was a significant contributor to the discovery of over one million ounces of gold in the Jerritt Canyon District where he was Chief Mine Geologist. Mr. Eliason held the position of Exploration Manager, Yukon until his recent employment with Tournigan Energy Ltd. He is a qualified person for NI 43-101 reporting purposes and is a fellow of the Society of Economic Geologists.
Mr. Sharma has over 19 years experience as a mining and exploration geologist. Prior to joining Tournigan he worked as Chief Mine Geologist for Barrick Gold Corporation's Bulyanhulu Mine in Tanzania where he was responsible for mine geology and near mine exploration. He held the position of Chief Mine Geologist for Vedanta Resources, Zod Gold Mines in Armenia. Mr. Sharma is a member of AusIMM and a qualified person for NI 43-101 reporting purposes.
"The appointments of Rich and Ravi to these positions reflect Tournigan's renewed commitment to exploration," said Tournigan President and CEO, Dorian L. (Dusty) Nicol. "They are both proven orefinders and their contributions will be invaluable to Tournigan's ongoing programs to grow its existing deposits and discover new ones. I am delighted to welcome both of them on board."
About Tournigan Energy Ltd.
Tournigan is a uranium and gold exploration and development company that has built a portfolio of highly prospective assets in Europe and North America. The company has focused its development and obtained licenses in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and an educated population. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia and its other operational jurisdictions.
On behalf of the Board of Directors of
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
* The Company has reviewed the above historical resource estimates and views them relevant. The Company believes that the historical resource estimates are reliable based on the historic exploitation of Slovak deposits in general and metallurgical test records acquired with the Company's deposits in particular. The above Slovak Resource Category is a combination of P and Z-3, which is roughly analogous to the Canadian Institute of Mining, Metallurgy and Petroleum's definition for Inferred Resources. The Company has not, however, done the work necessary to verify the classification of the resources and the resources are not classified according to CIM's Standards on Mineral Resources and Reserves Definitions. Investors are cautioned not to rely upon these estimates. Uranium metal (U) grades were converted to uranium oxide (U3O8) grades using a factor of 1.17924.
Forward-looking statements: Certain of the statements made herein, including any information as to the Corporation's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as "measured," "indicated," and "inferred," "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 40-F which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
keine schlechten Samplings..............WL
Sep 10, 2008 08:15 ET
Bayswater Defines Uranium Mineralization Grading up to 7.55% U3O8 at North Thelon Basin Project
VANCOUVER, BC--(Marketwire - September 10, 2008) - Bayswater Uranium Corporation (TSX-V: BAY) (PINKSHEETS: BYSWF) is pleased to report that assay results have been received from samples taken from its North Thelon Project in Nunavut, Canada. Uranium mineralization was found in outcrop and boulders at the Company's Itza and Amer West claim blocks, and the discovery of this mineralization was described in the news release dated July 28, 2008.
Sampling of angular boulders and outcrops of strongly radioactive interbedded feldspathic sandstone and siltstone in 2007 and 2008 has resulted in a total of 41 samples assaying greater than 1000 ppm U (0.124 % U3O8). Of these 41 mineralized samples, 3 samples yielded assays greater than 1% U3O8 with one angular boulder grading 7.55% U3O8. These mineralized samples define a horizon of feldspathic sandstone-siltstone that is continuous over 40 km on Bayswater's land holdings. A high priority drill target has been defined at Amer West where 14 samples of boulders and subcrop ranging from 0.124% to 4.32% U3O8 are present.
"We are very encouraged with the grades of this newly discovered mineralization," states Victor Tanaka, Chief Operating Officer of Bayswater. "Amer West is a strong drill target."
The North Thelon Project consists of a series of properties centered about 150 km northwest of the hamlet of Baker Lake in Nunavut. The exploration targets are unconformity related uranium deposits, similar to the Kiggavik and Andrew Lake deposits currently being developed by Areva and partners, and sediment hosted uranium deposits, similar to the Oklo and Shinkolobwe deposits of West Africa.
The Company's exploration activities are conducted under the supervision of George M. Leary, M.Sc. P. Eng. (BC), President of the Company, and Victor Tanaka, B.Sc. P.Geo. (B.C.), Chief Operating Officer of the Company. Both are qualified persons under NI 43-101. Victor Tanaka is the qualified person responsible for the technical information in this news release.
Sep 10, 2008 08:15 ET
Bayswater Defines Uranium Mineralization Grading up to 7.55% U3O8 at North Thelon Basin Project
VANCOUVER, BC--(Marketwire - September 10, 2008) - Bayswater Uranium Corporation (TSX-V: BAY) (PINKSHEETS: BYSWF) is pleased to report that assay results have been received from samples taken from its North Thelon Project in Nunavut, Canada. Uranium mineralization was found in outcrop and boulders at the Company's Itza and Amer West claim blocks, and the discovery of this mineralization was described in the news release dated July 28, 2008.
Sampling of angular boulders and outcrops of strongly radioactive interbedded feldspathic sandstone and siltstone in 2007 and 2008 has resulted in a total of 41 samples assaying greater than 1000 ppm U (0.124 % U3O8). Of these 41 mineralized samples, 3 samples yielded assays greater than 1% U3O8 with one angular boulder grading 7.55% U3O8. These mineralized samples define a horizon of feldspathic sandstone-siltstone that is continuous over 40 km on Bayswater's land holdings. A high priority drill target has been defined at Amer West where 14 samples of boulders and subcrop ranging from 0.124% to 4.32% U3O8 are present.
"We are very encouraged with the grades of this newly discovered mineralization," states Victor Tanaka, Chief Operating Officer of Bayswater. "Amer West is a strong drill target."
The North Thelon Project consists of a series of properties centered about 150 km northwest of the hamlet of Baker Lake in Nunavut. The exploration targets are unconformity related uranium deposits, similar to the Kiggavik and Andrew Lake deposits currently being developed by Areva and partners, and sediment hosted uranium deposits, similar to the Oklo and Shinkolobwe deposits of West Africa.
The Company's exploration activities are conducted under the supervision of George M. Leary, M.Sc. P. Eng. (BC), President of the Company, and Victor Tanaka, B.Sc. P.Geo. (B.C.), Chief Operating Officer of the Company. Both are qualified persons under NI 43-101. Victor Tanaka is the qualified person responsible for the technical information in this news release.
East Asia Minerals Encounters More High Grade Gold in Miwah Trenches Including 22 Metres of 3.86 g/t Gold
EAST ASIA MINERALS CORP EAS
9/10/2008 8:36:32 AM
VANCOUVER, BRITISH COLUMBIA, Sep 10, 2008 (Marketwire via COMTEX News Network) --
East Asia Minerals Corporation (TSX VENTURE:EAS) continues to encounter significant gold intercepts from trench sampling at its Miwah Project located in Aceh Province, North Sumatra, Indonesia. These results, including 22 metres of 3.86 g/t gold and 18 metres of 2.86 g/t gold are from the eastern half of the Miwah Bluff area.
Miwah Trenching Update
Additional encouraging assay results have been received from channel sampling in trenches at the Miwah gold-copper Project in the same area as previously reported, known as Miwah Bluff. Rock saw channel sampling focused on the eastern side of Miwah Bluff returned consistently strong gold mineralization, hosted specifically in vuggy silica altered breccias and volcanic rock. A total of 954 rock samples assayed so far from Miwah Bluff average 1.22 g/t gold. Selected un-cut composite trench intervals from recent trenches include:
- 16m of 1.25 g/t Au (Trench 42);
- 11m of 2.40 g/t Au (Trench 48);
- 18m of 2.86 g/t Au (Trench 49);
- 10m of 1.34 g/t Au (Trench 55);
- 22m of 3.86 g/t Au (Trench 74);
- 7m of 5.16 g/t Au (Trench 75).
The Miwah Bluff alteration and mineralization zone measures 300 metres long by 200 metres wide (view map at www.EAminerals.com). Extensive surface channel sampling by EAS and a previous explorer shows that this mineralization occurs within a well defined zone of high sulphidation alteration extending over an area measuring 1000 metres by 1000 metres. Better gold mineralization is closely related to a well-defined body of residual vuggy silica-sulphide forming an impressive resistant, east-northeast trending cliff of massive (vuggy) silica traced for over 1000 metres along strike by over 300 metres wide and up to 200 metres high.
Miwah demonstrates many features of the shallow part of a high-level high sulphidation ("HS") epithermal gold system, including intense acid leaching, strong structural and lithological permeability controls to fracture fed mineralizing fluids, presence of structurally-controlled hydrothermal and phreatic breccias, disseminated mineralization of Au-Ag much greater than Cu and the elemental association of As, Sb, Bi, Ba, S and Te.
The Miwah Property is in a very similar volcanic setting to the Martabe gold-silver deposit, also located in North Sumatra (Purnama and Baskara resources: 127.8 million tonnes at 1.4 g/t Au (5.5 million ounces gold) and 15 g/t Ag (60 million ounces silver), and the alteration system is of a comparable size. In addition to similarities to Martabe, the Miwah project also exhibits a likeness to the size, style and geometry of the alteration system developed at another important HS gold deposit, the Pierina gold deposit in Peru (67.7 Mt grading 2.98 g/t Au and 22 g/t Ag, giving a total 6.49 million ounces gold and 47.9 million ounces silver).
Miwah was partially defined by approximately 3000 metres of drilling in eleven holes by a previous explorer in 1997. All holes drilled during this program intersected significant alteration and mineralization with intercepts including 71 metres at 1.4 g/t gold and 58 metres at 1.1 g/t gold. The previous explorer suggested potential for 100 Mt at 1.1 to 1.2 g/t gold, however a review of the historical data indicates that early drilling was clearly parallel to higher grade (greater than 5 g/t gold) structures at surface, and hence significantly higher overall grades are anticipated from better oriented drill holes.
Integration of recent encouraging trench results and historical work, combined with ongoing detailed surface mapping and sampling will form the basis for selecting optimum drill targets which are anticipated to be drill tested later in the year.
Samples reported were assayed at Intertech assay laboratories in Jakarta. David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP within the meaning of 43-101, has reviewed and approves the content of this release. East Asia has not verified the classification of the resource references and is not treating them as NI 43-101 defined resources verified by a QP. Although the references of resources are relevant to recognizing the potential of the Miwah project, they should not be relied upon.
About East Asia Minerals Corporation
EAST ASIA MINERALS CORP EAS
9/10/2008 8:36:32 AM
VANCOUVER, BRITISH COLUMBIA, Sep 10, 2008 (Marketwire via COMTEX News Network) --
East Asia Minerals Corporation (TSX VENTURE:EAS) continues to encounter significant gold intercepts from trench sampling at its Miwah Project located in Aceh Province, North Sumatra, Indonesia. These results, including 22 metres of 3.86 g/t gold and 18 metres of 2.86 g/t gold are from the eastern half of the Miwah Bluff area.
Miwah Trenching Update
Additional encouraging assay results have been received from channel sampling in trenches at the Miwah gold-copper Project in the same area as previously reported, known as Miwah Bluff. Rock saw channel sampling focused on the eastern side of Miwah Bluff returned consistently strong gold mineralization, hosted specifically in vuggy silica altered breccias and volcanic rock. A total of 954 rock samples assayed so far from Miwah Bluff average 1.22 g/t gold. Selected un-cut composite trench intervals from recent trenches include:
- 16m of 1.25 g/t Au (Trench 42);
- 11m of 2.40 g/t Au (Trench 48);
- 18m of 2.86 g/t Au (Trench 49);
- 10m of 1.34 g/t Au (Trench 55);
- 22m of 3.86 g/t Au (Trench 74);
- 7m of 5.16 g/t Au (Trench 75).
The Miwah Bluff alteration and mineralization zone measures 300 metres long by 200 metres wide (view map at www.EAminerals.com). Extensive surface channel sampling by EAS and a previous explorer shows that this mineralization occurs within a well defined zone of high sulphidation alteration extending over an area measuring 1000 metres by 1000 metres. Better gold mineralization is closely related to a well-defined body of residual vuggy silica-sulphide forming an impressive resistant, east-northeast trending cliff of massive (vuggy) silica traced for over 1000 metres along strike by over 300 metres wide and up to 200 metres high.
Miwah demonstrates many features of the shallow part of a high-level high sulphidation ("HS") epithermal gold system, including intense acid leaching, strong structural and lithological permeability controls to fracture fed mineralizing fluids, presence of structurally-controlled hydrothermal and phreatic breccias, disseminated mineralization of Au-Ag much greater than Cu and the elemental association of As, Sb, Bi, Ba, S and Te.
The Miwah Property is in a very similar volcanic setting to the Martabe gold-silver deposit, also located in North Sumatra (Purnama and Baskara resources: 127.8 million tonnes at 1.4 g/t Au (5.5 million ounces gold) and 15 g/t Ag (60 million ounces silver), and the alteration system is of a comparable size. In addition to similarities to Martabe, the Miwah project also exhibits a likeness to the size, style and geometry of the alteration system developed at another important HS gold deposit, the Pierina gold deposit in Peru (67.7 Mt grading 2.98 g/t Au and 22 g/t Ag, giving a total 6.49 million ounces gold and 47.9 million ounces silver).
Miwah was partially defined by approximately 3000 metres of drilling in eleven holes by a previous explorer in 1997. All holes drilled during this program intersected significant alteration and mineralization with intercepts including 71 metres at 1.4 g/t gold and 58 metres at 1.1 g/t gold. The previous explorer suggested potential for 100 Mt at 1.1 to 1.2 g/t gold, however a review of the historical data indicates that early drilling was clearly parallel to higher grade (greater than 5 g/t gold) structures at surface, and hence significantly higher overall grades are anticipated from better oriented drill holes.
Integration of recent encouraging trench results and historical work, combined with ongoing detailed surface mapping and sampling will form the basis for selecting optimum drill targets which are anticipated to be drill tested later in the year.
Samples reported were assayed at Intertech assay laboratories in Jakarta. David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP within the meaning of 43-101, has reviewed and approves the content of this release. East Asia has not verified the classification of the resource references and is not treating them as NI 43-101 defined resources verified by a QP. Although the references of resources are relevant to recognizing the potential of the Miwah project, they should not be relied upon.
About East Asia Minerals Corporation
Southern Arc Releases Drill Results From Hole SLD029 at Its Montong Botek Cu-Au Porphyry Target
SOUTHERN ARC MINERALS SA
9/10/2008 8:30:09 AM
VANCOUVER, BRITISH COLUMBIA, Sep 10, 2008 (Marketwire via COMTEX News Network) --
Southern Arc Minerals Inc. (TSX VENTURE:SA) is pleased to announce the results of drill hole SLD029 at the Montong Botek Cu-Au target of its Selodong porphyry Cu-Au prospect on west Lombok Island, Indonesia.
SLD029 was designed to test possible southward extensions and limits of higher grade Cu-Au mineralization defined in previous holes drilled into the target. Drilling returned a mineralized intercept of:
504.65 m at 0.13% Cu and 0.16 g/t Au from 0.00 to 504.65 m
including: 127.95 m at 0.14% Cu and 0.26 g/t Au from 156.70 to 284.65 m
and: 100.00 m at 0.16% Cu and 0.20 g/t Au from 404.65 to 504.65 m
Results from SLD029 extend a halo of breccia-hosted lower-grade mineralization surrounding high-grade mineralization previously intersected by holes SLD001 to SLD003 and SGD001. The generation of geological and mineralization wire-frame models for the Montong Botek-Blongas II porphyry couple is currently in progress.
Drill hole SLD029, located 220 m south-southeast of SLD003 (Figure 1), was drilled northward at an inclination of -65 degrees to a depth of 595.20 m, passing approximately 150 m vertically below previous high-grade intercepts in SLD003 and SGD001. From surface to a depth of 528.00 m coring intercepted polymictic breccia hosting variable amounts of mineralized diorite clasts (QD1). Narrow late-stage diorite dikes cut the breccia at depths of 14.70 m, 89.60 m, and 159.20 m, respectively. Altered volcanics and volcaniclastics were intersected from 528.00 m to the end of the hole.
Drilling rig no. 1 completed hole SLD030 on September 4, 2008 at the Blongas II target, mid-way between SLD004 and SLD006 (Figure 1). Assay results should be available in late September. The completion of SLD030 has brought an end to the Phase 1 drilling program at Selodong, and the results of the program at Selodong are now being fully assessed.
Phase 2 drilling is now being carried out at the northern end of the West Lombok property on the Pelangan epithermal gold targets.
Detailed mapping and sampling continues for the assessment of numerous targets over the vast 4.5 km by 5.5 km Mencanggah epithermal district. Preliminary scout drilling is planned to commence on this prospect in mid to late November.
Qualified Person and Quality Control and Assurance
The information in this release has been compiled under the supervision of Southern Arc's Vice President of Exploration, Hamish Campbell B.Sc. (Geology), MAusIMM. Mr. Campbell has over 23 years of international mineral exploration experience including 21 years in Indonesia during which he has held such positions as Exploration Manager, Senior Geologist and Consulting Geologist. Mr. Campbell has sufficient experience relevant to the style of mineralization under consideration and as such qualifies as a Qualified Person as defined in terms of NI 43-101.
All assaying of samples was undertaken by the ITS laboratory in Jakarta. ITS is one of the world's largest product and commodity testing, inspection and certification organizations. The Jakarta laboratory is ISO 17025 accredited and employs a Laboratory Information Management System (LIMS) for sample tracking, quality control and reporting. In addition to the laboratory's quality assurance program, the Company employs its own comprehensive quality assurance/control program including blanks and standards, along with reassays of selective drill pulps by independent industry-accredited laboratories.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, President and CEO
SOUTHERN ARC MINERALS SA
9/10/2008 8:30:09 AM
VANCOUVER, BRITISH COLUMBIA, Sep 10, 2008 (Marketwire via COMTEX News Network) --
Southern Arc Minerals Inc. (TSX VENTURE:SA) is pleased to announce the results of drill hole SLD029 at the Montong Botek Cu-Au target of its Selodong porphyry Cu-Au prospect on west Lombok Island, Indonesia.
SLD029 was designed to test possible southward extensions and limits of higher grade Cu-Au mineralization defined in previous holes drilled into the target. Drilling returned a mineralized intercept of:
504.65 m at 0.13% Cu and 0.16 g/t Au from 0.00 to 504.65 m
including: 127.95 m at 0.14% Cu and 0.26 g/t Au from 156.70 to 284.65 m
and: 100.00 m at 0.16% Cu and 0.20 g/t Au from 404.65 to 504.65 m
Results from SLD029 extend a halo of breccia-hosted lower-grade mineralization surrounding high-grade mineralization previously intersected by holes SLD001 to SLD003 and SGD001. The generation of geological and mineralization wire-frame models for the Montong Botek-Blongas II porphyry couple is currently in progress.
Drill hole SLD029, located 220 m south-southeast of SLD003 (Figure 1), was drilled northward at an inclination of -65 degrees to a depth of 595.20 m, passing approximately 150 m vertically below previous high-grade intercepts in SLD003 and SGD001. From surface to a depth of 528.00 m coring intercepted polymictic breccia hosting variable amounts of mineralized diorite clasts (QD1). Narrow late-stage diorite dikes cut the breccia at depths of 14.70 m, 89.60 m, and 159.20 m, respectively. Altered volcanics and volcaniclastics were intersected from 528.00 m to the end of the hole.
Drilling rig no. 1 completed hole SLD030 on September 4, 2008 at the Blongas II target, mid-way between SLD004 and SLD006 (Figure 1). Assay results should be available in late September. The completion of SLD030 has brought an end to the Phase 1 drilling program at Selodong, and the results of the program at Selodong are now being fully assessed.
Phase 2 drilling is now being carried out at the northern end of the West Lombok property on the Pelangan epithermal gold targets.
Detailed mapping and sampling continues for the assessment of numerous targets over the vast 4.5 km by 5.5 km Mencanggah epithermal district. Preliminary scout drilling is planned to commence on this prospect in mid to late November.
Qualified Person and Quality Control and Assurance
The information in this release has been compiled under the supervision of Southern Arc's Vice President of Exploration, Hamish Campbell B.Sc. (Geology), MAusIMM. Mr. Campbell has over 23 years of international mineral exploration experience including 21 years in Indonesia during which he has held such positions as Exploration Manager, Senior Geologist and Consulting Geologist. Mr. Campbell has sufficient experience relevant to the style of mineralization under consideration and as such qualifies as a Qualified Person as defined in terms of NI 43-101.
All assaying of samples was undertaken by the ITS laboratory in Jakarta. ITS is one of the world's largest product and commodity testing, inspection and certification organizations. The Jakarta laboratory is ISO 17025 accredited and employs a Laboratory Information Management System (LIMS) for sample tracking, quality control and reporting. In addition to the laboratory's quality assurance program, the Company employs its own comprehensive quality assurance/control program including blanks and standards, along with reassays of selective drill pulps by independent industry-accredited laboratories.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, President and CEO
Sep 10, 2008 09:00 ET
Cardero Completes Option Agreement on TiTac Iron-Titanium-Vanadium Deposit in NE Minnesota, USA
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU)(AMEX:CDY)(FRANKFURT:CR5) is pleased to announce that it has completed an option to lease agreement with an arm's length private mineral owner on the TiTac Iron-Titanium-Vanadium deposit in northeast Minnesota, USA. Metallurgical test work on the deposit completed by the United States Steel Corporation ("US Steel") produced a magnetic concentrate grading 57.32% iron, 14.02% titanium dioxide (TiO2), and 1.30% vanadium pentoxide (V2O5). The residual non-magnetic concentrate graded 29.14% iron, 37.22% TiO2 and 0.18% V2O5. The deposit was discovered in 1968 by US Steel, which completed six diamond drillholes on the property. Drill intersections include drillhole 26002, which returned 254.8 metres of 35.0% iron, 18.68% TiO2 and 0.47% V2O5. Cardero is moving quickly to complete independent metallurgical work on a composite sample from the deposit, with the aim of producing pig iron, titanium and vanadium from magnetic and non-magnetic concentrates.
TiTac Project
TiTac Project Background
The TiTac property (previously known as the "Section 34 deposit") was originally explored with airborne geophysical surveys, which identified coincident magnetic and electromagnetic anomalies. These anomalies were further investigated with follow-up ground geophysical surveys, including Induced Polarization (IP), Resistivity and Electromagnetic (EM) methods.
In 1968, US Steel drilled 5 vertical drillholes and 1 inclined drillhole to test the magnetic anomalies. Drilling intersected abundant magnetite and ilmenite mineralization that ranged from disseminated to massive mineralization. The US Steel drillhole numbering system is sequential, but not limited to the TiTac property. The six holes drilled on the TiTac property are numbered 26000, 26001, 26002, 26003, 26007 and 26008.
All drillholes intersected "ore-grade" mineralization. As an example of the grades encountered, US Steel reported the following results from drillhole 26002: 254.8 metres @ 35.0% iron, 18.68% TiO2 and 0.47% V2O5, including 158.5 metres @ 42.7% iron, 22.47% TiO2 and 0.57% V2O5.
Metallurgy
US Steel also conducted limited metallurgical work. Drill core material was crushed and separated using heavy-liquid separation. The residual heavy mineral concentrate subsequently underwent magnetic separation to produce a second magnetic (magnetite) concentrate, leaving a residual non-magnetic (ilmenite) concentrate.
The drill core was selected to be representative of the mineralized body and weighted averages for the head grade from all metallurgical samples was reported as 32.8% iron, 19.76% TiO2, and 0.44% V2O5. Following gravitational and magnetic separation, the US Steel laboratory reported grades for magnetic and non-magnetic concentrates as follows:
--------------------------------------------------------------------------
Magnetic Concentrate Non-Magnetic Concentrate
------------------------------------ ----------------------------------
TiO2 V2O5 TiO2 V2O5
Iron TiO2 lbs/ V2O5 lbs/ Iron TiO2 lbs/ V2O5 lbs/
% % tonne % tonne % % tonne % tonne
--------------------------------------------------------------------------
57.32 14.02 309.1 1.30 28.7 29.14 37.22 820.6 0.18 4.0
--------------------------------------------------------------------------
Titanium - Vanadium Background
Titanium is primarily used in pigment industries (paint, paper and plastics) as a whitening constituent (titanium dioxide) due to its brightness and very high refractive index. The metal is also used as a light, high-strength and corrosion-resistant material in the fabrication of specialized components in the aeronautical and aerospace industries, and in high-end sporting goods and medical components. Most of the world's titanium production comes from alluvial sand deposits in Australia, South Africa and the United States.
Vanadium is primarily used as an alloy agent for steel and titanium - significantly increasing its strength and resistance wear and corrosion. Iron-vanadium alloy steels are typically used in the construction, pipeline, automotive and railway industries.
Recent pricing for ferro-titanium metal has been around the USD 3.90 per pound level, while titanium dioxide (TiO2) has recently been priced around the USD 1.10 per pound level. Vanadium pentoxide (V2O5) has recently traded in the USD 13.00-18.00 per pound range.
Future Work
In order to independently verify metallurgical results reported by US Steel Laboratories, Cardero has initiated metallurgical test work on samples from the TiTac deposit at the Natural Resources Research Institute (NRRI) in Minnesota. The work will build on that of US Steel, producing pig iron, titanium and vanadium from magnetic and non-magnetic concentrates. Details of the metallurgical studies will be released upon receipt of results, anticipated to be in the last quarter of 2008.
US Steel sampled half-core, with the remaining half being retained. Samples of variable thickness (1.5 to 3.0 metres) were crushed, homogenised and analyzed and/or forwarded for metallurgical testing. Cardero selected a composite metallurgical test sample from drillholes 26001, 26002, 26003 and 26007, sampling from top of bedrock to a maximum depth of 88 metres. Representative samples were taken by riffle splitting and combined into one bulk sample for submission to NRRI Coleraine Minerals Research Laboratory (CMRL) for testing.
Assuming that the metallurgical test results confirm the US Steel results, Cardero plans an initial drill program designed to verify the US Steel results and expand the information available regarding the deposit in order to permit the preparation of an initial resource estimate. The surface of the TiTac deposit is owned by the State of Minnesota and managed by St. Louis County. The Company has entered into a surface use agreement with the County which will permit the initial drilling program to proceed.
Geological Setting
The TiTac Iron-Titanium-Vanadium Deposit is located on the margins of the Duluth Complex in north-eastern Minnesota. The Duluth Complex is a 1.1 billion-year old, large, multiphase, layered gabbroic intrusive complex. The TiTac Deposit is associated with late, cross-cutting Oxide-bearing Ultramafic Intrusives (OUI's) which intrude the Western Margin Intrusion of the Duluth Complex. Within the Duluth Complex, the OUI's typically form along linear trends, and exhibit strong fault control.
The TiTac Deposit occurs at the junction of a northeast-trending, linear magnetic and gravimetric discontinuity in the Duluth complex and a northwest-trending magnetic and conductive linear anomaly. Oxides in the intrusions typically comprise 15-100% of the rock, comprising coarse-grained ilmenite (iron-titanium oxide) and titanium-bearing magnetite.
The foregoing information with respect to the TiTac property, and the drilling and metallurgical results thereon, has been taken from internal US Steel reports made available to the Company and such information, although considered to be reliable, has not been independently verified by Cardero. Accordingly, such information is presented for illustrative purposes only, and should not be relied upon.
Option/Mining Lease Agreements
Pursuant to an option agreement dated July 1, 2008 (as amended on July 24, 2008), between Cardero Iron Ore (USA) Inc., a wholly owned subsidiary of Cardero Iron Ore Company Ltd., and an arm's length private mineral owner ("owner"), the Company has a two year option to enter into a mining lease with the owner over an aggregate of 1,402 acres (567 hectares) of mineral rights located sections 2 and 3 of Township 54 North and sections 34 and 35 of Township 55 North, all Range 14 West, St. Louis County, Minnesota. The mining lease will grant a lease over any mineral substance of a metalliferous nature, including those intermingled or associated materials or substances, recovered from each tone of crude ore for the purpose of extracting iron (essentially, iron, titanium and vanadium). All other minerals are reserved to the owner. The key terms of the option agreement (and the subsequent mining lease) are as follows:
Option Agreement: An initial payment of USD 5,000 on execution (paid) plus an extension payment of USD 25,000 due on the first anniversary of the agreement to extend the option for an additional year. There are no work commitments under the option, but the Company is required to comply with all laws and to maintain specified insurance in place during the option term. The Company can exercise the option to enter into a mineral lease at any time prior to June 29, 2010 upon notice to that effect to the owner.
Mining Lease: The initial term of the mining lease is for a period of 20 years, provided that the lease may be extended for an additional 5 year period if the Company gives notice at least 180 days prior to the end of such term, and has either paid to the owner at least USD 10,000,000 in royalties or pays to the owner the difference between the royalties actually paid and USD 10,000,000. In like manner, the lease can be extended for up to three additional 5 year terms, provided that the appropriate notice is given and that the Company has paid to the owner at least USD 5,000,000 in royalties during the previous 5 year term (or pays any deficiency in cash). The Company can terminate the lease at any time on sixty days' notice. The Company is required to make a bonus payment of USD 2,500 upon entering into the lease, plus yearly rental payments under the lease of the greater of USD 2,500 and USD 2/acre in years one and two, the greater of USD 5,000 and USD 5/acre in years three through five, the greater of USD 7,500 or USD 10/acre in years six through ten, the greater of USD 10,000 or USD 25/acre in years eleven through fifteen and the greater of USD 50,000 or USD 50/acre in years sixteen through twenty. These rental payments cease upon the commencement of commercial production, following which yearly minimum royalty payments of USD 200,000 apply. Following the commencement of commercial production, the Company is required to pay a royalty of USD 0.85 per ton of crude iron ore (adjusted quarterly based on variation in the quoted price of certain iron ore products) and 5% of the net return values for any other products produced (subject to a minimum royalty of USD 0.02 per pound of titanium). The Company is required to incur minimum work expenditures of USD 50,000 prior to the second anniversary of the lease, and USD 50,000 per year thereafter (any deficiency being payable in cash to the owner).
The Company has agreed, subject to regulatory acceptance, to pay a finder's fee to an arm's length individual in connection with the completion of the option agreement. The fee will consist of an initial 25,000 common shares, issuable following regulatory acceptance, plus an additional common 50,000 shares issuable upon the exercise by the Company of the option to enter into the mining lease.
MOU with International Minerals and Mines Limited
Cardero also announces that it has entered into a memorandum of understanding with International Minerals and Mines Ltd., a private Gibraltar company headquartered in London ("IMM"), to earn an interest in a subsidiary of IMM which is presently engaged in reconnaissance exploration programs in the Caucasian Region. Cardero is the manager of the exploration programs. Project generation to date by Cardero indicates that the Caucasian Region is prospective for significant to world class base and precious metal porphyry and epithermal deposits.
Pursuant to a memorandum of understanding dated August 8, 2008 (but effective as and from April 25, 2008) between Cardero and IMM, Cardero has acquired the right to receive up to a 30% interest in IMM Gold Limited, a subsidiary of IMM incorporated under the laws of Gibraltar ("IMMG"). Stephan Fitch, a director of Cardero, is a director and significant shareholder of a private company which is the major shareholder (67%) of IMM.
Cardero has agreed to acquire an initial 15% interest in IMMG by issuing to IMM up to 750,000 common shares, as follows:
- an initial 500,000 common shares upon acceptance for filing of the transaction by the Toronto Stock Exchange ("TSX")
- if, on the date ("Adjustment Date") which is one year after the date ("Issue Date") of the issuance of the initial 500,000 shares to IMM, the volume weighted average trading price for Cardero common shares on the TSX for the five trading days immediately prior to such date ("Final VWAP") is less than the volume weighted average trading price for Cardero Shares on the TSX for the five trading days immediately prior to the date of this news release ("Initial VWAP"), Cardero will issue to IMM such number of additional common shares of Cardero (up to a maximum of 250,000 additional shares) as is equal to the difference between the Initial VWAP and the Final VWAP, multiplied by 500,000 and divided by the Final VWAP
Cardero has the option to acquire an additional 15% of IMMG by issuing an additional 1,000,000 shares to IMM on or before December 31, 2009.
Cardero is responsible for formulating and managing, on behalf of IMMG, an exploration program designed to identify prospective mineral properties located in the Caucasian Region, for acquisition by IMMG. As manager, Cardero is entitled to charge a 15% management fee. The costs of the exploration program are to be paid by IMMG, which is in the process of raising an initial GBP 2.0 million financing for such purpose. The initial funding will be without dilution to Cardero's initial 15% (and, if acquired, subsequent 15%) interest. Any additional funding by IMMG thereafter will dilute all existing shareholders, but Cardero has the right to participate in any such financing and thereby maintain its then percentage equity interest in IMMG.
The reconnaissance exploration program has commenced, but no properties have yet been acquired.
Qualified Person
EurGeol Mr. Keith J. Henderson, Cardero's Vice President-Exploration and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Henderson is not independent of the Company as he is an officer and securityholder.
The work program at TiTac is designed and supervised by Keith J. Henderson, Cardero's Vice President-Exploration, and Dr. S. Jayson Ripke, the Vice-President, Technical, of Cardero Iron Ore Management (USA) Inc. (an indirect subsidiary of Cardero), who together are responsible for all aspects of the work, including the quality control/quality assurance program. Metallurgical test work will be undertaken by Natural Resources Research Institute's Coleraine Minerals Research Labs, Minnesota, and the work is designed and supervised by Dr. Ripke. NRRI follows international (ISO) and North American (ASTM) procedures where such procedures exist for highly specialized test work. NRRI are generally considered to be industry leaders in this type of test work.
About Cardero Resource Corp.
Cardero's focus through 2008 will be to realise the considerable value it believes is locked in the Company's significant iron ore assets in the Marcona District of southern Peru, while continuing to progress its base and precious metal exploration projects in Argentina and Mexico. The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.
On Behalf of the Board of Directors of CARDERO RESOURCE CORP.
Hendrik van Alphen, President
Cardero Completes Option Agreement on TiTac Iron-Titanium-Vanadium Deposit in NE Minnesota, USA
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU)(AMEX:CDY)(FRANKFURT:CR5) is pleased to announce that it has completed an option to lease agreement with an arm's length private mineral owner on the TiTac Iron-Titanium-Vanadium deposit in northeast Minnesota, USA. Metallurgical test work on the deposit completed by the United States Steel Corporation ("US Steel") produced a magnetic concentrate grading 57.32% iron, 14.02% titanium dioxide (TiO2), and 1.30% vanadium pentoxide (V2O5). The residual non-magnetic concentrate graded 29.14% iron, 37.22% TiO2 and 0.18% V2O5. The deposit was discovered in 1968 by US Steel, which completed six diamond drillholes on the property. Drill intersections include drillhole 26002, which returned 254.8 metres of 35.0% iron, 18.68% TiO2 and 0.47% V2O5. Cardero is moving quickly to complete independent metallurgical work on a composite sample from the deposit, with the aim of producing pig iron, titanium and vanadium from magnetic and non-magnetic concentrates.
TiTac Project
TiTac Project Background
The TiTac property (previously known as the "Section 34 deposit") was originally explored with airborne geophysical surveys, which identified coincident magnetic and electromagnetic anomalies. These anomalies were further investigated with follow-up ground geophysical surveys, including Induced Polarization (IP), Resistivity and Electromagnetic (EM) methods.
In 1968, US Steel drilled 5 vertical drillholes and 1 inclined drillhole to test the magnetic anomalies. Drilling intersected abundant magnetite and ilmenite mineralization that ranged from disseminated to massive mineralization. The US Steel drillhole numbering system is sequential, but not limited to the TiTac property. The six holes drilled on the TiTac property are numbered 26000, 26001, 26002, 26003, 26007 and 26008.
All drillholes intersected "ore-grade" mineralization. As an example of the grades encountered, US Steel reported the following results from drillhole 26002: 254.8 metres @ 35.0% iron, 18.68% TiO2 and 0.47% V2O5, including 158.5 metres @ 42.7% iron, 22.47% TiO2 and 0.57% V2O5.
Metallurgy
US Steel also conducted limited metallurgical work. Drill core material was crushed and separated using heavy-liquid separation. The residual heavy mineral concentrate subsequently underwent magnetic separation to produce a second magnetic (magnetite) concentrate, leaving a residual non-magnetic (ilmenite) concentrate.
The drill core was selected to be representative of the mineralized body and weighted averages for the head grade from all metallurgical samples was reported as 32.8% iron, 19.76% TiO2, and 0.44% V2O5. Following gravitational and magnetic separation, the US Steel laboratory reported grades for magnetic and non-magnetic concentrates as follows:
--------------------------------------------------------------------------
Magnetic Concentrate Non-Magnetic Concentrate
------------------------------------ ----------------------------------
TiO2 V2O5 TiO2 V2O5
Iron TiO2 lbs/ V2O5 lbs/ Iron TiO2 lbs/ V2O5 lbs/
% % tonne % tonne % % tonne % tonne
--------------------------------------------------------------------------
57.32 14.02 309.1 1.30 28.7 29.14 37.22 820.6 0.18 4.0
--------------------------------------------------------------------------
Titanium - Vanadium Background
Titanium is primarily used in pigment industries (paint, paper and plastics) as a whitening constituent (titanium dioxide) due to its brightness and very high refractive index. The metal is also used as a light, high-strength and corrosion-resistant material in the fabrication of specialized components in the aeronautical and aerospace industries, and in high-end sporting goods and medical components. Most of the world's titanium production comes from alluvial sand deposits in Australia, South Africa and the United States.
Vanadium is primarily used as an alloy agent for steel and titanium - significantly increasing its strength and resistance wear and corrosion. Iron-vanadium alloy steels are typically used in the construction, pipeline, automotive and railway industries.
Recent pricing for ferro-titanium metal has been around the USD 3.90 per pound level, while titanium dioxide (TiO2) has recently been priced around the USD 1.10 per pound level. Vanadium pentoxide (V2O5) has recently traded in the USD 13.00-18.00 per pound range.
Future Work
In order to independently verify metallurgical results reported by US Steel Laboratories, Cardero has initiated metallurgical test work on samples from the TiTac deposit at the Natural Resources Research Institute (NRRI) in Minnesota. The work will build on that of US Steel, producing pig iron, titanium and vanadium from magnetic and non-magnetic concentrates. Details of the metallurgical studies will be released upon receipt of results, anticipated to be in the last quarter of 2008.
US Steel sampled half-core, with the remaining half being retained. Samples of variable thickness (1.5 to 3.0 metres) were crushed, homogenised and analyzed and/or forwarded for metallurgical testing. Cardero selected a composite metallurgical test sample from drillholes 26001, 26002, 26003 and 26007, sampling from top of bedrock to a maximum depth of 88 metres. Representative samples were taken by riffle splitting and combined into one bulk sample for submission to NRRI Coleraine Minerals Research Laboratory (CMRL) for testing.
Assuming that the metallurgical test results confirm the US Steel results, Cardero plans an initial drill program designed to verify the US Steel results and expand the information available regarding the deposit in order to permit the preparation of an initial resource estimate. The surface of the TiTac deposit is owned by the State of Minnesota and managed by St. Louis County. The Company has entered into a surface use agreement with the County which will permit the initial drilling program to proceed.
Geological Setting
The TiTac Iron-Titanium-Vanadium Deposit is located on the margins of the Duluth Complex in north-eastern Minnesota. The Duluth Complex is a 1.1 billion-year old, large, multiphase, layered gabbroic intrusive complex. The TiTac Deposit is associated with late, cross-cutting Oxide-bearing Ultramafic Intrusives (OUI's) which intrude the Western Margin Intrusion of the Duluth Complex. Within the Duluth Complex, the OUI's typically form along linear trends, and exhibit strong fault control.
The TiTac Deposit occurs at the junction of a northeast-trending, linear magnetic and gravimetric discontinuity in the Duluth complex and a northwest-trending magnetic and conductive linear anomaly. Oxides in the intrusions typically comprise 15-100% of the rock, comprising coarse-grained ilmenite (iron-titanium oxide) and titanium-bearing magnetite.
The foregoing information with respect to the TiTac property, and the drilling and metallurgical results thereon, has been taken from internal US Steel reports made available to the Company and such information, although considered to be reliable, has not been independently verified by Cardero. Accordingly, such information is presented for illustrative purposes only, and should not be relied upon.
Option/Mining Lease Agreements
Pursuant to an option agreement dated July 1, 2008 (as amended on July 24, 2008), between Cardero Iron Ore (USA) Inc., a wholly owned subsidiary of Cardero Iron Ore Company Ltd., and an arm's length private mineral owner ("owner"), the Company has a two year option to enter into a mining lease with the owner over an aggregate of 1,402 acres (567 hectares) of mineral rights located sections 2 and 3 of Township 54 North and sections 34 and 35 of Township 55 North, all Range 14 West, St. Louis County, Minnesota. The mining lease will grant a lease over any mineral substance of a metalliferous nature, including those intermingled or associated materials or substances, recovered from each tone of crude ore for the purpose of extracting iron (essentially, iron, titanium and vanadium). All other minerals are reserved to the owner. The key terms of the option agreement (and the subsequent mining lease) are as follows:
Option Agreement: An initial payment of USD 5,000 on execution (paid) plus an extension payment of USD 25,000 due on the first anniversary of the agreement to extend the option for an additional year. There are no work commitments under the option, but the Company is required to comply with all laws and to maintain specified insurance in place during the option term. The Company can exercise the option to enter into a mineral lease at any time prior to June 29, 2010 upon notice to that effect to the owner.
Mining Lease: The initial term of the mining lease is for a period of 20 years, provided that the lease may be extended for an additional 5 year period if the Company gives notice at least 180 days prior to the end of such term, and has either paid to the owner at least USD 10,000,000 in royalties or pays to the owner the difference between the royalties actually paid and USD 10,000,000. In like manner, the lease can be extended for up to three additional 5 year terms, provided that the appropriate notice is given and that the Company has paid to the owner at least USD 5,000,000 in royalties during the previous 5 year term (or pays any deficiency in cash). The Company can terminate the lease at any time on sixty days' notice. The Company is required to make a bonus payment of USD 2,500 upon entering into the lease, plus yearly rental payments under the lease of the greater of USD 2,500 and USD 2/acre in years one and two, the greater of USD 5,000 and USD 5/acre in years three through five, the greater of USD 7,500 or USD 10/acre in years six through ten, the greater of USD 10,000 or USD 25/acre in years eleven through fifteen and the greater of USD 50,000 or USD 50/acre in years sixteen through twenty. These rental payments cease upon the commencement of commercial production, following which yearly minimum royalty payments of USD 200,000 apply. Following the commencement of commercial production, the Company is required to pay a royalty of USD 0.85 per ton of crude iron ore (adjusted quarterly based on variation in the quoted price of certain iron ore products) and 5% of the net return values for any other products produced (subject to a minimum royalty of USD 0.02 per pound of titanium). The Company is required to incur minimum work expenditures of USD 50,000 prior to the second anniversary of the lease, and USD 50,000 per year thereafter (any deficiency being payable in cash to the owner).
The Company has agreed, subject to regulatory acceptance, to pay a finder's fee to an arm's length individual in connection with the completion of the option agreement. The fee will consist of an initial 25,000 common shares, issuable following regulatory acceptance, plus an additional common 50,000 shares issuable upon the exercise by the Company of the option to enter into the mining lease.
MOU with International Minerals and Mines Limited
Cardero also announces that it has entered into a memorandum of understanding with International Minerals and Mines Ltd., a private Gibraltar company headquartered in London ("IMM"), to earn an interest in a subsidiary of IMM which is presently engaged in reconnaissance exploration programs in the Caucasian Region. Cardero is the manager of the exploration programs. Project generation to date by Cardero indicates that the Caucasian Region is prospective for significant to world class base and precious metal porphyry and epithermal deposits.
Pursuant to a memorandum of understanding dated August 8, 2008 (but effective as and from April 25, 2008) between Cardero and IMM, Cardero has acquired the right to receive up to a 30% interest in IMM Gold Limited, a subsidiary of IMM incorporated under the laws of Gibraltar ("IMMG"). Stephan Fitch, a director of Cardero, is a director and significant shareholder of a private company which is the major shareholder (67%) of IMM.
Cardero has agreed to acquire an initial 15% interest in IMMG by issuing to IMM up to 750,000 common shares, as follows:
- an initial 500,000 common shares upon acceptance for filing of the transaction by the Toronto Stock Exchange ("TSX")
- if, on the date ("Adjustment Date") which is one year after the date ("Issue Date") of the issuance of the initial 500,000 shares to IMM, the volume weighted average trading price for Cardero common shares on the TSX for the five trading days immediately prior to such date ("Final VWAP") is less than the volume weighted average trading price for Cardero Shares on the TSX for the five trading days immediately prior to the date of this news release ("Initial VWAP"), Cardero will issue to IMM such number of additional common shares of Cardero (up to a maximum of 250,000 additional shares) as is equal to the difference between the Initial VWAP and the Final VWAP, multiplied by 500,000 and divided by the Final VWAP
Cardero has the option to acquire an additional 15% of IMMG by issuing an additional 1,000,000 shares to IMM on or before December 31, 2009.
Cardero is responsible for formulating and managing, on behalf of IMMG, an exploration program designed to identify prospective mineral properties located in the Caucasian Region, for acquisition by IMMG. As manager, Cardero is entitled to charge a 15% management fee. The costs of the exploration program are to be paid by IMMG, which is in the process of raising an initial GBP 2.0 million financing for such purpose. The initial funding will be without dilution to Cardero's initial 15% (and, if acquired, subsequent 15%) interest. Any additional funding by IMMG thereafter will dilute all existing shareholders, but Cardero has the right to participate in any such financing and thereby maintain its then percentage equity interest in IMMG.
The reconnaissance exploration program has commenced, but no properties have yet been acquired.
Qualified Person
EurGeol Mr. Keith J. Henderson, Cardero's Vice President-Exploration and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Henderson is not independent of the Company as he is an officer and securityholder.
The work program at TiTac is designed and supervised by Keith J. Henderson, Cardero's Vice President-Exploration, and Dr. S. Jayson Ripke, the Vice-President, Technical, of Cardero Iron Ore Management (USA) Inc. (an indirect subsidiary of Cardero), who together are responsible for all aspects of the work, including the quality control/quality assurance program. Metallurgical test work will be undertaken by Natural Resources Research Institute's Coleraine Minerals Research Labs, Minnesota, and the work is designed and supervised by Dr. Ripke. NRRI follows international (ISO) and North American (ASTM) procedures where such procedures exist for highly specialized test work. NRRI are generally considered to be industry leaders in this type of test work.
About Cardero Resource Corp.
Cardero's focus through 2008 will be to realise the considerable value it believes is locked in the Company's significant iron ore assets in the Marcona District of southern Peru, while continuing to progress its base and precious metal exploration projects in Argentina and Mexico. The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.
On Behalf of the Board of Directors of CARDERO RESOURCE CORP.
Hendrik van Alphen, President
duke war heute immer schneller mit dem News reinstellen[url=http://peketec.de/trading/viewtopic.php?p=476054#476054 schrieb:Ollinho schrieb am 10.09.2008, 15:10 Uhr[/url]"][url=http://peketec.de/trading/viewtopic.php?p=476025#476025 schrieb:greenhorn schrieb am 10.09.2008, 14:51 Uhr[/url]"]ich werde langsam......................
Sprich net so in Rätseln
Im Moment kommt es auf die Schnelligkeit eh nicht an.......
[url=http://peketec.de/trading/viewtopic.php?p=476055#476055 schrieb:greenhorn schrieb am 10.09.2008, 15:11 Uhr[/url]"]
[url=http://peketec.de/trading/viewtopic.php?p=476054#476054 schrieb:Ollinho schrieb am 10.09.2008, 15:10 Uhr[/url]"][url=http://peketec.de/trading/viewtopic.php?p=476025#476025 schrieb:greenhorn schrieb am 10.09.2008, 14:51 Uhr[/url]"]ich werde langsam......................
Sprich net so in Rätseln
- Status
