Wednesday 17th October 2018

Resource Clips


September, 2011

Coming soon to ResourceClips.com: A new look and a new approach

September 30th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningVisitors to our Web site might experience weekend interruptions as we prepare to unveil the all-new ResourceClips.com.

Updates, upgrades and re-design will include a major innovation in social networking for the junior resource sector.

Stay tuned!

Great Panther reports Mexico Assays of 2.48 g/t Gold, 623 g/t Silver over 4.3m

September 30th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGreat Panther Silver Limited TSX:GPR announced assay results from its San Ignatio Mine property in Guanajuato, Mexico. Highlights include

1.75 g/t gold and 134 g/t silver over 3.5 metres
1.32 g/t gold and 68 g/t silver over 3.1 metres
10.8 g/t gold and 1,370 g/t silver over 0.6 metres
2.38 g/t gold and 176 g/t silver over 4.2 metres
2.48 g/t gold 623 g/t silver over 4.3 metres
1,390 g/t silver over 0.8 metres
4.62 g/t gold and 359 g/t silver over 1.6 metres
2.89 g/t gold and 122 g/t silver over 2 metres
1.76 g/t gold and 93 g/t silver over 4.3 metres
1.04 g/t gold and 464 g/t silver over 3.5 metres
6.43 g/t gold and 187 g/t silver over 3.2 metres

The San Ignacio project is located in the La Luz vein system of the Guanajuato silver-gold district. Great Panther has re-initiated its NI 43-101 resource estimate for San Ignacio, which is expected to be completed by 4Q 2011.

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Read More about Great Panther Silver

Contact:
B&D Capital
604.685.6465

by Ted Niles

Sabina reports Nunavut Gold Assays including 14.24 g/t over 28.3m

September 30th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningSabina Gold & Silver Corp TSX:SBB announced drill results from the Umwelt deposit of its Back River project in Nunavut. Assays include

3.61 g/t gold over 10.5 metres
2.73 g/t over 13.3 metres
13.48 g/t over 0.8 metres
8.64 g/t over 1 metre
5.19 g/t over 60.2 metres (including 9.02 g/t over 26.3 metres)
7.62 g/t over 10 metres (including 29.45 g/t over 2 metres)
3.78 g/t over 6.3 metres
12.01 g/t over 23.5 metres (including 23.46 g/t over 9 metres)
14.24 g/t over 28.3 metres (including 29.96 g/t over 8.4 metres)

President/CEO Tony Walsh commented, “Our work continues to demonstrate the high quality of the Back River Property. In our 2011 campaign, we have extended and expanded our Umwelt and Llama deposits and we have made eight new discoveries on our Back River and Wishbone claims with many assays still pending. We are very encouraged by the success we are having in identifying good grades and good widths in our deposit areas. On the discovery front we are very encouraged by recent developments. While not all discoveries we make will be of the nature and size we are looking for, our success rate in finding gold mineralization based on the limited number of targets tested this year is excellent. This demonstrates the prospective nature of the land package we have at Back River and Wishbone and we are confident that we will continue to make new discoveries.”

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Read More about Sabina Gold & Silver

Contact:
Nicole Hoeller
Director, Investor Relations
888.648.4218

by Ted Niles

Gold Canyon reports Ontario Gold Results as high as 1.46 g/t over 250m

September 30th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGold Canyon Resources Inc TSXV:GCU announced assays from its Springpole Gold Project in northwestern Ontario. Results include

1.46 g/t gold over 250 metres
(including 1.91 g/t over 178 metres)
0.91 g/t over 369 metres
(including 11.01 g/t over 3 metres)
0.97 g/t over 319 metres
(including 3.29 g/t over 19 metres)
0.91 g/t over 206 metres
(including 1.87 g/t over 81 metres)
0.58 g/t over 114 metres

Technical Adviser/Director Quinton Hennigh stated, “We are very pleased with the results from our step-out holes. Looking at a plan section, it is very clear that the system remains wide open for expansion to the southeast. The profile of the deposit on the 0+00 m section is roughly 300 metres wide and 400 metres tall. The very long intercept in hole SP11-074 suggests this profile projects to the -050 m section further southeast. If such a profile continues even further, we can quickly add a lot of volume to this zone. Infill drilling continues to demonstrate the robust, continuous nature of mineralization at Springpole. When we see multiple zones of higher-grade mineralization like that encountered in SP11-073, we know we have a lot more drilling to do to fully understand this large, dynamic gold system.”

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Contact:
Akiko Levinson
President/Director
604.682.3234
888.242.3234

or Leo Karabelas
Investor Relations
416.543.3120

by Greg Klein

New Guinea reports Papua New Guinea Gold Results of 6.32 g/t over 5.2m

September 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningNew Guinea Gold Corp TSXV:NGG announced assays from the Kavursuki Zone of its Sinivit Mine in Papua New Guinea. Results include

6.32 g/t gold over 5.2 metres
(including 10.64 g/t over 2.2 metres)
3.75 g/t over 4 metres
4.26 g/t over 3.2 metres
(including 6.59 g/t over 1.3 metres)
8.83 g/t over 1.3 metres

Acting CEO Greg Heaney remarked, “These assay results continue to assist us in understanding the extent, location and nature of the Kavursuki vein system. The current exploration drilling program will continue until December 2011, by which time a new medium- to long-term exploration program will have been finalized.”

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Contact:
Greg Heaney
Acting CEO
61.7.5592.2274

by Greg Klein

Pretium reports BC Assays up to 11.59 g/t Gold over 16.5m

September 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPretium Resources Inc TSX:PVG announced assays from its Brucejack project in BC. Highlights include

2.2 g/t gold over 53.6 metres (including 153 g/t over 0.5 metres)
1.25 g/t gold over 74.7 metres
6.14 g/t gold and 24.3 g/t silver over 12 metres
2.27 g/t gold over 95.5 metres (including 88 g/t over 1.5 metres)
7.45 g/t gold over 14.7 metres
1.07 g/t gold over 114 metres
2.62 g/t gold and 19.6 g/t silver over 39.5 metres (including uncut 1,465 g/t gold and 863 g/t silver over 0.5 metres)
76.8 g/t gold and 478 g/t silver over 6.5 metres (including uncut 7,420 g/t gold and 3,800 g/t silver over 1 metre)
11.59 g/t gold and 48.4 g/t silver over 16.5 metres
3.57 g/t gold and 103.4 g/t silver over 6.8 metres
6 g/t gold and 34.7 g/t silver over 24.6 metres
4.7 g/t gold and 47.5 g/t silver over 55 metres (including uncut 462 g/t gold and 311 g/t silver over 0.5 metres)
2.72 g/t gold and 23.8 g/t silver over 54 metres

The Brucejack project has an NI 43-101 measured and indicated resource estimate of 8.18 million ounces gold and 116.2 million ounces silver. It has inferred resources of 12.56 million ounces gold and 151.2 million ounces silver.

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Read More about Pretium Resources

Contact:
Robert Quartermain
President/CEO
604.558.1784

by Ted Niles

Starcore reports Mexico Assays of 7.94 g/t Gold, 75.3 g/t Silver over 16.9m

September 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningStarcore International Mines Ltd TSX:SAM announced results from its San Martin Mine in Queretaro State, Mexico. Assays include

7.94 g/t gold and 75.3 g/t silver over 16.9 metres
(including 24.9 g/t gold and 184.9 g/t silver over 4.8 metres)
15.88 g/t gold and 135 g/t silver over 1.2 metres
4.06 g/t gold and 55.4 g/t silver over 4.2 metres
3.97 g/t gold and 155 g/t silver over 4.3 metres

Executive Chairman/CEO Robert Eadie stated, “The Pilotos area is currently providing high-grade ore that is helping the mine keep production where it was in the first five months of this year. These holes are adding volume to areas which were discovered last year and are another indication of how our exploration team is continuing to replace reserves.”

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Contact:
Robert Eadie
Executive Chairman/CEO
604.602.4935
866.602.4935

by Greg Klein

Pershimco reports Panama Assays up to 1.84 g/t Gold over 71m

September 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningPershimco Resources Inc TSXV:PRO announced results from its Cerro Quema Project in Panama. Highlights include

1.84 g/t gold, 0.85 g/t silver and 0.2% copper over 71 metres
(including 3.61 g/t gold, 1.54 g/t silver and 0.06% copper over 36 metres)
0.93 g/t gold, 2.02 g/t silver and 0.08% copper over 94 metres
(including 1.58 g/t gold, 0.56 g/t silver and 0.01% copper over 27 metres)
6.48 g/t gold, 2.05 g/t silver and 0.06% copper over 13 metres
2.09 g/t gold, 0.66 g/t silver and 0.18% copper over 27 metres

Cerro Quema is located about 45 kilometres from the city of Chitre and about 190 kilometres from Panama City. The project’s camp is next to the concessions, with road access, water, power and communications.

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Contact:
Alain Bureau
President/CEO
819.797.2180

by Greg Klein

Aquila reports Wisconsin Reef gold assays including 14.41 g/t over 14.8m

September 29th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAquila Resources Inc TSX:AQA announced results from its Reef gold project in Marathon County, Wisconsin. Assays include

8.4 g/t gold over 3.2 metres
0.95 g/t over 11.9 metres
2.96 g/t over 3.1 metres
4.62 g/t over 7 metres
1.08 g/t over 6 metres
1.07 g/t over 12.5 metres
1.08 g/t over 5.6 metres
1.7 g/t over 10.5 metres
5.61 g/t over 6.4 metres
14.41 g/t over 14.8 metres (including 21.28 g/t over 9.3 metres)

President/CEO Tom Quigley stated, “We are very pleased with the progress being made at Reef and will continue drilling to extend and define the mineralized structure. The strong intercept from R11-11 shows the potential for new, previously unidentified zones southwest of the known resource.”

View Company Profile

Contact:
Thomas O. Quigley
President/CEO
906.352.4024

or Robin Dunbar
CFO
416.203.1404

by Ted Niles

The Iron Hub

September 28th, 2011

Alderon Sees Massive Kami Production

By Greg Klein

Something big is happening in Labrador and, according to Alderon Resource TSXV:ADV Executive Chairman Mark Morabito, it’s part of the most underreported story in mining. “Everybody knows Chinese steelmakers want to diversify their iron ore supply away from the Big Three, which are Vale, Rio Tinto and BHP Billiton. So the Chinese are out there making deals with earlier-stage companies. But that’s had a domino effect.”

Morabito explains that as these steelmakers are making these investments and securing future offtake, they’re crowding out their competitors. “They’re forcing the Koreans, Japanese, Turks and Indians into earlier-stage deals as well. So a company like ours has all sorts of future customers it can choose from.”

Alderon Sees Massive Kami Production

As a result, Alderon has signed something like 14 non-disclosure agreements with “primarily Asian steel concerns” interested in its Kamistiatusset Project in Labrador. With iron ore prices projected to stay in the $180-to-$200-a-tonne range and global steelmaking expected to double over 15 to 20 years, Kami’s become a major player in the iron ore boom of the Labrador Trough, which straddles the Quebec-Labrador border.

“There are no other iron ore projects in Canada that can get to production before us,” says Morabito. “We’ve identified a billion-tonne-plus deposit in an area that has low-cost power, right beside a common-carrier railway leading to a port that’s undergoing major expansion. And we’re going to continue our track record of success—we under-promise, we over-deliver, and we’re going to continue doing just that.”

Anyone troubled by the semantic confusion of promising to under-promise might consider Alderon’s ambitious timeline compared to a PEA that can, in retrospect, seem quaint.

Released September 8, it projected a 2.7-year payback on a $989 million CAPEX with a 40.2% pre-tax IRR, a US$3.07 billion NPV discounted at 8% and a total operating cost excluding royalties of US$44.87 per concentrate tonne averaged over a 15.3-year mine life. The study covers rail facilities, port expansion in Sept-Iles and an open pit with concentrator producing 8 million tonnes a year of 65.5% iron.

The PEA was based only on one deposit of 376 million tonnes grading 29.8% iron indicated and 46 million tonnes grading 29.8% inferred.

Just five days later, however, an updated 43-101 reported numbers for all three Kami deposits, boosting the indicated category to 490 million tonnes grading 30% and the inferred to 598 million tonnes grading 30.3%.

But Alderon’s not stopping there, Morabito says. “If we convert all the inferred from the second resource estimate into the indicated, and pick up some additional tonnage, we’re looking at a resource of 1.2 to 1.4 billion tonnes. That would make it bigger than Consolidated Thompson.”

The reigning king of the Labrador Trough, Consolidated Thompson began production last year, quickly doubling its initial 8-million-tonne capacity. Last June, it was bought out by Cliffs Natural Resources for $4.9 billion.

“We’re re-categorizing and upgrading our resource with definition drilling,” Morabito continues. “We’re doing some geotechnical drilling and pit design drilling, but exploration is over.”

We’ve got a mix between operators and mine builders, and it’s a potent mix that gives us a competitive edge. We’re taking this into production ourselves —Mark Morabito

Definition drilling continues until March or April 2012, with feasibility slated for completion in 3Q 2012 and permitting in 3Q 2013. Pilot production begins in 4Q 2014 and commercial production in 2015.

Alderon is part of a pullulating mining camp. Kami is located fewer than seven kilometres from the Bloom Lake Mine that Cliffs recently picked up. Cliffs also runs the nearby 5.5-million-tonne Wabush Mine.

Steelmaking giant ArcelorMittal owns the Mount Wright and Fire Lake mines, which are slated for a $2.1-billion upgrade to raise production from 14 million to 24 million tonnes by 2013.

Iron Ore Company of Canada plans to increase its 17-million-tonne Carol Project to 26 million by 2013. Additionally, there’s talk of 50 million tonnes by 2016. Rio Tinto holds 58.7% of IOC, with Mitsubishi Corp holding another 26.2%.

When it comes to talk of Alderon’s management, Morabito’s enthusiasm overcomes his modesty. “We’ve got the best team of any development-stage iron-ore project in the world, I think,” he says. “I secured the project originally. Directors Stan Bharti and Bruce Humphrey were two principals with Consolidated Thompson; so we joined up and brought together people who’ve been working in Newfoundland and Labrador for years.”

IOC alumni now working with Alderon include President/CEO Tayfun Eldem and COO Brian Penney and Directors David Porter and Matt Simpson. “Our Executive VP of Environmental and Aboriginal Affairs is Todd Burlingame,” Morabito adds. “His last big permitting project was the Lower Churchill hydro project, 3,000 megawatts and right in the same area with all the same stakeholders. Gary Norris was the former head of the Newfoundland civil service; he’s our VP of Government and Community Affairs. Our chief geologist, Ed Lyons, was chief geologist of Consolidated Thompson and Director Brad Boland was its CFO.”

“So we’ve got a mix of operators and mine builders, and it’s a potent mix that gives us a competitive edge,” Morabito says. “We’re taking this into production ourselves.”

Alderon is backed by Forbes & Manhattan, the merchant bank that helped steer Consolidated Thompson through the 2008 crisis.

At press time, Alderon had 82.7 million shares trading at $2.55 for a market cap of $210.9 million. As of September 22 insiders held 11.9%; Altius Minerals TSX:ALS held 39.3%; and the company had working capital of $16.2 million.