Wednesday 13th December 2017

Resource Clips


January, 2011

Edgewater reports Spain Gold Assays up to 10.72 g/t over 17m

January 31st, 2011

Edgewater Exploration Ltd TSXV:EDW announced results from its Corcoesto Gold Project in Galicia, Spain. Assays include 1.6 g/t gold over 5 metres, 0.6 g/t over 23.4 metres, 4.27 g/t over 6 metres, 1.81 g/t over 13.3 metres (including 14.85 g/t over 1.1 metres), 0.79 g/t over 26 metres, 1.71 g/t over 8.1 metres, 1.51 g/t over 43.4 metres (including 14.95 g/t over 1 metre) and 10.72 g/t over 17 metres (including 148.5 g/t over 1.1 metres).

VP Ryan King tells ResourceClips.com, “We bought this asset from Lundin Mining Corporation TSX:LUN last year. Lundin acquired it from Rio Narcea Gold Mines Ltd, which was one of the main exploration development players in Spain. Lundin acquired Rio Narcea primarily for the Aguablanca Mine in Spain along with a bunch of other gold assets. We acquired Corcoesto from Lundin for $8 million. At that time it had about 300,000 ounces gold measured and indicated. So we commissioned an updated resource calculation by Alan Noble. He had done the original resource calculation at a $350-gold price in 2006. So we started the new resource calculation using a bit more of an up-to-date gold price. Incorporating some additional drill holes we’d done, we came up with about 315,000 ounces in measured and indicated but with an additional 880,000 ounces in inferred, making that $8-million acquisition cost extremely low on a per-ounce basis.

“We kicked off a 12,000-metre drill program in October last year, and we saw some opportunities where there looked like there was open-ended at depth and along east and west strike lengths,” continues Ryan. “We have been drilling since then doing some infill and step-out, and today’s drill hole was a nice 100-metre step-out hole with great gold intercepts. It looks like we can start to build on the known resource now. We’ve got three drills turning there now—this is on our three exploitation sessions (or licences) that are permitted for small scale mining. It was thought by Rio Narcea to be a small scale operation that was going to be heap-leachable. But today, with the size of the resource growing, and also with the metallurgical testing that they’d done in the past that showed heap-leach was only about a 60% recovery, we thought it probably better to look at seeing how much bigger we can get and then look at a conventional milling operation.

“We’ve got an experienced team, in-country, that is native to Spain—that previously worked with Rio Narcea on a project—that knows this project extremely well. A great team. Already they’ve had extensive meetings with local government officials.

“Galicia is an autonomous region. The main town is about 35 kilometres away—with a population of 250,000. We’re close to tide water. We’ve got power and roads right over top of the concession. And on the permitting front we’re not going to be faced with any big opposition, largely due to the fact that this is an agricultural area; it’s got no cathedrals, no heritage on site that we need to worry ourselves about. And Spain is obviously very pro-development right now with the state of the economy and the unemployment rates. So we’re pretty encouraged with this development and think it’s only going to get better.

“The plan is, first, to finish the drill program, but also to complete a new up-to-date resource calculation. And we’re hoping to have that done before the end of the first half of this year. At that point in time, depending on how things develop, we will look to commence a scoping study, then move into feasibility from there.” Ryan concludes, “I think this year in going to be pretty busy with a lot of developments on the project.”

View Company Profile

Contact:
Ryan King
Vice President
604.628.1012

by Ted Niles

Premium reports Idaho Gold Assays up to 0.8 g/t over 370.9m

January 31st, 2011

Premium Exploration Inc TSXV:PEM announced assays from its Friday-Petsite Gold Project in Central Idaho. Results include 0.8 g/t gold 370.9 metres (including 1.5 g/t over 134.3 metres and 2.5 g/t over 47.3 metres), and 1 g/t over 36.5 metres.

VP Exploration Michael Ostenson commented, “The focus of the Phase Three program was to double the down-dip extent of the current Upper Block inferred resource to a vertical depth of approximately 300 metres and march along strike, essentially doubling the Main Zone footprint. With that achieved we are looking forward to the updated resource estimate and continued strike length development beyond the known zones of mineralization at Friday-Petsite resource. Phase Three developed a proven exploration strategy at the Friday Project with the discovery of the Monday Fault mineralization. We look forward to applying the strategy to the balance of the OSZ to make new discoveries.”

View Company Profile

Contact:
Del Steiner
President/CEO
604.682.0243

or Christine Kopr
Corporate Communications
604.682.0243

by Ted Niles

African Queen reports Mozambique Assays up to 1.1 g/t Gold over 5.2 m

January 31st, 2011

African Queen Mines Ltd TSXV:AQ announced assay results from its King Solomon Project in western Tete Province, Mozambique. Highlights include 1.23 g/t gold, 19 g/t silver over 1 metre, 0.88 g/t gold, 18 g/t silver and 1.09% copper over 6 metres, 4.09 g/t gold, 74 g/t silver and 3.44% copper over 0.8 metres, 1.03 g/t gold and 21 g/t silver over 1 metre, 1.1 g/t gold over 5.2 metres, and 1.1 g/t gold over 3.7 metres.

CEO Irwin Olian said, “We are encouraged that current drill results continue to highlight the extensive Mankombiti zone at King Solomon, demonstrating the presence of significant copper, gold and silver mineralization. We look forward to commencing our next phase of drilling there in the coming months, together with reconnaissance drilling at the Bulasho target further to the West.”

View Company Profile

Contact:
Irwin Olian
President/CEO
604.899.0100

or Carrie Howes
Corporate Communications
416.900.3634

by Ted Niles

VMS, Hudbay report Manitoba Assays up to 2.1 g/t Gold over 32.3m

January 31st, 2011

VMS Ventures Inc TSXV:VMS in joint venture with HudBay Minerals Inc TSX:HBM announced results from the Reed Lake Deposit near Snow Lake, Manitoba. Assays include 3.41% copper, 2.1 g/t gold and 22.03 g/t silver over 32.3 metres, 4.85% copper, 2.35 g/t gold and 25.69 g/t silver over 28.1 metres, and 3.95% copper, 1.92 g/t gold and 25.78 g/t silver over 8.9 metres. HudBay has a 70% interest and VMS has a 30% interest in the property.

VMS COO Neil Richardson commented, “These results for the upper zinc-copper-rich lens in zone 30 and copper-zinc rich lens in zone 20 are consistent with our working deposit model and provide us the definition required to complete an initial resource estimate. Copper and zinc metal zonation and significant precious metal credits are common characteristics of massive sulphide-type deposits in the Snow Lake camp.”

View Company Profile

Contact:
Keith Patey
Director of Communications
604.986.2020
or 866.816.0118

by Ted Niles

Silvercorp reports China Assays up to 331 g/t Silver over 4.4m

January 31st, 2011

Silvercorp Metals Inc TSX:SVM announced assays from its Ying Mine in Henan Province, China. Results include 1,746 g/t silver over 0.9 metres, 1,593 g/t over 2 metres, 331 g/t over 4.4 metres, 991 g/t over 1.1 metres (including 3,124 g/t over 0.3 metres), 1,148 g/t over 0.7 metres and 1,116 g/t over 0.3 metres.

The Ying Mining District has a measured and indicated mineral resource estimate of 68.9 million ounces silver, 87.7 million ounces inferred.

View Company Profile

Contact:
Rui Feng
Chairman/CEO
604.669.9397

or Lorne Waldman
Corporate Secretary
604.669.9397

by Ted Niles

Fuelling The Future

January 31st, 2011

Commerce reports Quebec Rare Earths of 1.99% TREO over 309.2m

January 28th, 2011

Commerce Resources Corp TSXV:CCE announced drill results from the Ashram Rare Earth Zone of its Eldor Project in northern Quebec. Highlights include 1.99% TREO over 309.2 metres (including 2.3% over 172.89 metres), 1.78% over 239.7 metres, 0.88% over 367.8 metres, 1.13% over 277.3 metres and 0.86% over 348 metres.

President David Hodge tells ResourceClips.com, “In my history in mineral exploration you rarely get the best case results you were looking for. With these new assays from the Eldor showing both significant light and heavy REE enrichment, I believe we have bested even our best case estimates. These results dictate that we must fast track this property.”

View Company Profile

Contact:
David Hodge
President/Director
604.484.2700

by Ted Niles

Medoro reports Colombia Assays up to 1.1 g/t Gold over 187.4m

January 28th, 2011

Medoro Resources Ltd TSX:MRS announced results from its Marmato Gold Project in Colombia. Assays include 1.1 g/t gold over 187.4 metres, 1.8 g/t gold and 57.8 g/t silver over 27.5 metres, 1.5 g/t gold and 22.9 g/t silver over 34.6 metres, 4.8 g/t gold and 69.1 g/t silver over 7 metres, 1 g/t gold over 14.6 metres, 1.6 g/t gold and 84.6 g/t silver over 8 metres, 1.4 g/t gold over 55.4 metres, and 1.2 g/t gold and 23.1 g/t silver over 12 metres.

Interim President/CEO Serafino Iacono said, “In addition to further confirmation of a world-class gold-silver resource, this round of drilling results highlights the potential for further growth in the deposit, with step-out holes east of Echandia extending the mineralized envelope, as well as low-grade porphyry mineralization discovered southeast of Marmato, which is interpreted to be the probable source of the mineralizing fluids that formed the Marmato epithermal deposit.”

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Contact:
Peter Volk
VP & General Counsel
416.603.4653

by Ted Niles

Great Panther reports Mexico Assays up to 2.36 g/t Gold over 5.8m

January 28th, 2011

Great Panther Silver Limited TSX:GPR announced assays from the Guanajuatito Mine at the northwest end of its Guanajuato Mine Complex in Mexico. Results include 2.36 g/t gold and 429 g/t silver over 5.8 metres, 1.01 g/t gold and 175 g/t silver over 2.7 metres, 1.87 g/t gold and 455 g/t silver over 2.6 metres, 8.52 g/t gold and 1,300 g/t silver over 0.7 metres, 1.03 g/t gold and 194 g/t silver over 3.6 metres, 1.17 g/t gold and 274 g/t silver over 4.6 metres, and 2.27 g/t gold and 839 g/t silver over 1.9 metres.

Guanajuato Mine Manager Andrew Sharp commented, “Ore development on the 120 level is underway and the provision of ventilation for the first ore level is a priority. Once this commences, ramp development to subsequent stope levels for future production will re-commence. Given the good exploration results to date, further exploration potential along strike and the advancing ramp depth, additional capital has been committed in the form of a deeper electrical distribution network.”

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Contact:
B&D Capital
604.685.6465

by Ted Niles

Abcourt reports Quebec Silver Assays up to 164.49 g/t over 8.4m

January 27th, 2011

Abcourt Mines Inc TSXV:ABI announced assay results from its Abcourt-Barvue Property in Quebec. Highlights include 15.43 g/t silver and 2.4 g/t zinc over 7.5 metres, 169.49 g/t silver and 1.87 g/t zinc over 5.3 metres (including 388.15 g/t silver and 1.06 g/t zinc over 1.7 metres), 278.94 g/t silver and 6.15 g/t zinc over 4.9 metres, 164.49 g/t silver and 2.31 g/t zinc over 8.4 metres, and 155.5 g/t silver and 2.29 g/t zinc over 8.8 metres.

President/CEO Renaud Hinse stated, “We’re excited with these results and those reported previously on December 7, 2010. Together they are adding to our reserves and resources. Diamond drilling is continuing.” The Abcourt-Barvue Property has a mineral resource estimate of 1.3 million ounces silver and 21,159 tonnes zinc measured and indicated, 5.8 million ounces silver and 44,869 tonnes zinc inferred.

View Company Profile

Contact:
Renaud Hinse
President/CEO
819.768.2857
or 450.446.5511

by Ted Niles