Saturday 26th May 2018

Resource Clips

October, 2010

Moneta Porcupine President/CEO Ian Peres on gold assays of 3.93 g/t over 36.4 metres

October 29th, 2010

“The Golden Highway Project is the key project within our portfolio. When you look at Moneta in the context of its peer group, there are only three producers—Goldcorp, Lakeshore Gold, and St Andrew Goldfields—that have larger land positions. All of our properties are located immediately adjacent to what we call ‘elephants,’ meaning current and past producers.

“Between 1994 and 1997 Barrick spent roughly four million dollars on a 150 metre envelope going north-south, and they went 450 metres deep. We are targeting outside the historical resource that Barrick delineated. So there’s a historical resource for the top 450 metres of 625,000 ounces at 6 g/t with a 3 g/t cut off. Rather than convert that to a 43-101, we’re focussed on below the 450 mark because that’s where the majority of the substantial grade and width starts in the Abitibi—and the Golden Highway’s no different.

“In doing so, we are seeing the largest vein zone ever intersected on the Golden Highway project, which is 50 metres in width. The results that came out yesterday were from the first wedge off of that 50 metre vein zone, and we’re seeing absolutely tremendous grades over width.”

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Silver Standard sells BC Gold-Silver Projects to Pretium for $450M

October 29th, 2010

Silver Standard Resources Inc SSO:CA announced that it has entered into an agreement to sell its Snowfield and Brucejack Projects to new venture Pretium Resources Inc. Silver Standard will receive will receive total consideration of $450 million. On completion of the transaction, Silver Standard’s ownership interest in Pretium is expected to be less than 50%.

Silver Standard CEO John Smith said, “The sale of Snowfield and Brucejack is the culmination of an extensive review of strategic alternatives focused on developing projects that are core to capability and strategy whilst monetizing project options that are best developed by others. [Pretium's] Bob Quartermain has a proven track record in capturing value from exploration and we look forward to Snowfield and Brucejack being given the absolute focus by Pretium to build value from continued exploration and project definition.”

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Paul LaFontaine
Director, Investor Relations
or 604.484.8212

by Ted Niles

Queenston announces $35M Private Placement with Agnico-Eagle

October 29th, 2010

Queenston Mining Inc QMI:CA announced that Agnico-Eagle Mines Limited AEM:CA has entered into a subscription agreement with Queenston by way of a non-brokered private placement. Agnico-Eagle will purchase a total of 6,603,774 units at $5.30 per, for proceeds to Queenston of $35 million in cash. As a result of the private placement Agnico-Eagle will own 8.83% of Queenston’s issued and outstanding shares and 11.47% on a fully diluted basis. Additionally Queenston and Agnico-Eagle will enter a technical services agreement that will provide Queenston access to Agnico-Eagle’s geological and engineering mining team. Upon completion of the investment Queenston’s cash position will be approximately $70 million.

Queenston President/CEO Charles Page commented, “We are very pleased with this investment from Agnico-Eagle, a company which has proven expertise in the development of both underground and open-pit mines. Proceeds from the private placement combined with the assistance of the Agnico-Eagle team provide Queenston the opportunity to advance our projects towards the development stage.”

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Queenston Mining Inc
Charles Page
416.364.0001 ext. 224

or Investor Relations

by Ted Niles

Keegan’s Executive Chairman / Director Shawn Wallace on gold assays of 7.74 g/t over 18 metres

October 28th, 2010

“The Esaase is an advanced stage project that we’re currently completing a pre-feasability study on. We have a resource that we published in March 2009 which had about two million ounces indicated and about one and a half million inferred, with a 0.6 g/t cut off. We’ve also done another 57,000 metres of drilling subsequent to that resource. The results today highlight an even bigger step-out from that, in a new zone. So there’s a bit of excitement around the project.

“Obviously, this has been a good project for us, and we just continue to find new zones. I think the market’s excited about that because we’ve already got something and this is in addition to it; and they’re pretty exceptional results. It means we have more gold where we already had a lot of gold.

“It’s a new zone so we don’t have a lot of definition yet—we haven’t drilled it off on grid or anything. But near surface, high grade results are always very accretive to a project that’s currently being rapidly moved forward to development.”

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First in Wyoming

October 27th, 2010

Premier Gold President/CEO Ewan Downie on assays of 297.61 g/t gold over 1 metre

October 27th, 2010

“Since a 43-101 gold resource that we drilled off several years back, Rubicon found the F2 zone in the Footwall. So we picked three areas on the Red Lake property—which is a long trend from Rubicon that could host similar mineralization. The Footwall discovery area is the first of those targets. Last winter we drilled several holes along the structure and one of those holes held 51 g/t material. We drilled two holes this summer to extend the discovery to the north and the hole that we announced today was a 120 metre step-out to the north. There we hit what appears to be the same structure with better grades. That means there are two hits in this new discovery and it’s open. This winter we’ll be following up those two high grade hits with a series of holes to try to delineate a bit of a deposit here.

“We’re pleased with the grades. I prefer to find the narrow high grade to bulk tonnage because the cost of building your infrastructure is less. My opinion is the northernmost of those structures has the best promise. We think that East Bay has some good potential for future discoveries.

“The Rahill-Bonanza Property adjoins Goldcorp’s Cochener Bruce Channel deposit. And we think there’s great potential to find further resources there. Right now the plan is to have a fairly large drill program from surface. But we are considering rehabbing the Wilmar operation and doing an underground program in addition to our surface operation next year.

“I think that Premier is pretty unique. In addition to the Hardrock Project we also have these key properties in the middle of Red Lake. I think there’s good potential there.”

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Safety in Numbers

October 27th, 2010

US Gold Senior Vice-President Ian Ball on silver assays of 90.7 g/t over 23.8 metres

October 27th, 2010

“El Gallo was a discovery that we made at the end of 2008, beginning of 2009. Since then we’ve been drilling it pretty aggressively; there are five to seven drills on the project right now. We put out an initial resource in July of this year, and these most recent drill results have been looking to extend the mineralization beyond that.

“We’ve completed 60 holes since the first resource, and this was the last set of results before the new resource, which is coming out in a couple of weeks. Essentially what we’re seeing here is that the mineralization is staying consistent in terms of grade and in terms of its proximity to surface. When you look at some of the companies that are in the junior space that have a silver discovery, a few of them will quote hundreds of millions of ounces of silver. But what you have to look at is how many of those are ever going to be in production. Either they’re really deep, or very low grade and therefore not recoverable. Whereas at El Gallo 95% of the resource is within 100 metres of the surface. Which is a pretty unique characteristic. We’re looking at all open-pit.

“So we’re quite excited by the opportunities there, and we’re looking for more of the same. It’s all near-surface, it’s good grade, and it’s really just a small area of a large land package. Our land holdings in that part of Mexico are just under 600,000 acres—and El Gallo only makes up about a couple of hundred acres of that.”

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Goldrush Resources’ VP Corporate Development Don Willoughby on assays of 7.63 g/t gold over 15m

October 26th, 2010

“Phase one of the program was a 12 hole deep core drilling program, and we were successful in encountering significant gold mineralization in 11 of those holes. So we achieved our objective, which was to extend the Ronguen Deposit at depth—below the 80 metres that previously was in the resource report—to between 120 and 160 metres below surface. That was clearly very successful.

“The news release yesterday discusses the first five drill holes of phase two—the only holes for which we have assay results at this point. We encountered gold mineralization in all five holes, and in hole 96 we encountered absolutely blockbuster grades. We think that in this one hole we’ve exposed a new zone that was beneath the old Ronguen Main zone. We certainly have made a discovery of some sort, and will be devoting further drilling to trying to define that. So this is a big, big step forward for the Ronguen Deposit.”

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Golden Predator Chairman/CEO William Sheriff on assays of 1.72 g/t gold over 146.3 metres

October 25th, 2010

“This morning’s news illustrates the merit of our entire program whereby we budget most of our money to a couple of large flagship projects while at the same time drilling a handful of holes on new ideas and our pipeline projects with the intent of being able to advance one of them each year to the advanced category for the following season’s drilling.

“The success at the Carlos Zone on Grew Creek vaults this project right next to Clear Creek as the two flagship projects for 2011. We will work towards the establishment of a 43-101 resource on both of these projects as well as an updated resource on Brewery Creek during 2011. We are very fortunate to be able to operate on both Grew and Brewery Creek throughout the winter months as they have superior accessibility.”

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