Sunday 21st October 2018

Resource Clips

March, 2012

Bowmore, Threegold report Quebec Results of 0.74 g/t Gold over 68m

March 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningBowmore Exploration Inc TSXV:BOW in joint venture with Threegold Resources Inc TSXV:THG announced results from their Standard Gold and Duverny properties in the Abitibi region of Quebec. Highlights include

0.74 g/t gold over 68 metres
(including 19.05 g/t over 1 metre)
0.59 g/t over 44 metres
0.57 g/t over 26.5 metres
(including 6.03 g/t over 1 metre)
0.8 g/t over 16 metres
1.43 g/t over 8 metres
7.06 g/t over 1 metre
7.05 g/t over 1 metre

The Standard Gold and Duverny properties are contiguous. The property package and immediate area include three known gold deposits, including the past-producing Standard Gold Mine, which operated between 1935 and 1953. Bowmore has an option with Threegold on both properties. Bowmore may acquire a 51% interest in the Standard Gold Property by paying $280,000 and spending $4 million over a five-year period. Bowmore may acquire an additional 19% interest by spending $6 million over an additional five-year period.

We struck a deal with Osisko where they took 35% of the company. They took two of their top executives, Osisko’s President, Sean Roosen, and their Executive VP, Robert Wares, and appointed them to our board. We benefit in several ways—Paul Dumas

Bowmore President/CEO Paul Dumas tells, “We acquired this property a year and a half ago, and we optioned another property that was adjacent to it. We’ve been doing some recon work, some aeromagnetics. We want to drill 5,000 metres this year because we had some targets over the swamp areas, but we had a quick thaw in northern Quebec. So that limited us. We were only able to do about 3,800 metres. But it helps to confirm the zones that we’re looking at. It’s an old mine that was operating between the 1930s and 1940s. We wanted to target the initial shaft that was there. We did some huge stepouts, 800 to 900 metres, testing the diorite dyke. We’re pleased with the results because we’re looking for a large, bulk-tonnage, open-pittable deposit. This is a kilometric, vast ankerite altered zone.

“So we’re pleased with the results we got,” he says. “Obviously we’re going to do a follow-up this summer.

“In May or June 2009, we struck a deal with Osisko TSX:OSK where they took 35% of the company,” he points out. “They took two of their top executives, Osisko’s President, Sean Roosen, and their Executive VP, Robert Wares, and appointed them to our board. We benefit in several ways: the knowledge that they have, the deal flows that come through their door. Obviously they’re looking at deposits in excess of two million ounces, so a lot of the more grassroots projects are presented to us. If they fit our strategy, we’ll move on these transactions.

“We have properties in northern Quebec, southern Quebec and in Mexico,” Dumas adds. “Presently we’re drilling our Chivas Property in Mexico. It’s in the Sierra Madre, about 15 kilometres west of the Dolores Mine that was just bought out by Pan American Silver TSX:PAA. It’s a huge, low-sulphidization epithermal system. The results of our exploration programs define this large epithermal system. It’s about 5.2 square kilometres. There’s an extension on the other side of the northern fault that was drilled. The property was drilled prior to us by a company called Cambior and another company called X-Ore. X-Ore drilled about 3,100 metres on an exposed vein, and they got some good results. For example, they got about 15 metres of 1.26 grams per tonne gold and 182 grams per tonne silver. Our goal right now is to go into that property, drill the extensions of that zone (it’s called the Piedra Rodante Zone) and drill the epithermal system. The epithermal system is covered by a large silica cap that runs over a strike length of more than two kilometres.

“We built about 32 kilometres of road up in the mountains. All the drill pads and the drill went in there last February,” he says.

“We’ve been working all our properties hard since we brought them into our portfolio but I would emphasize Standard Gold-Duverny and also Chivas. We had a write-up last year from Canaccord’s Wendell Zerb, who called us one of his top picks for juniors for 2011. What turned him on was this project in Mexico.”

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Bowmore Exploration Inc
Paul A. Dumas

Threegold Resources Inc
Victor Goncalves
or Sylvain Laberge
Investor Relations

by Greg Klein

Cayden reports Mexico Assays including 1.02 g/t Gold, 209 g/t Silver over 41.7m

March 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningCayden Resources Inc TSXV:CYD announced drill results from the Las Calles target of its Morelos Sur property in Mexico. Highlights include

1.56 g/t gold and 74 g/t silver over 12.2 metres
1.64 g/t gold, 90 g/t silver and 0.43% copper over 5 metres
1.02 g/t gold, 209 g/t silver and 0.38% copper over 41.7 metres

President/CEO Ivan Bebek remarked, “We are very pleased to see the hypothesized deeper zone at our Las Calles target return such significant mineral values between two producing pits. The success of the holes in the Las Calles target give room for significant value to be added in the near term. We are also very pleased to see the increasing strength of the La Magnetita target ahead of an initial 6000-metre drill program.”

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Ivan Bebek

by Ted Niles

Selwyn reports Yukon Zinc Assays including 7.57% over 51m

March 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSelwyn Resources Ltd TSXV:SWN announced assays from the XY Central deposit of its Selwyn project in Yukon. Results include

7.57% zinc and 2.65% lead over 51 metres
(including 26.41% zinc and 10.34% lead over 7 metres)
8.35% zinc and 2.76% lead over 27.9 metres
(including 25.02% zinc and 10.17% lead over 4.4 metres)
10.22% zinc and 5.45% lead over 31.1 metres
(including 22.5% zinc and 16.26% lead over 5.1 metres)

President/CEO Harlan Meade stated, “The assay results from the metallurgical drilling program at XY Central deposit continue to demonstrate the strong continuity of high-grade mineralization in the XY Central deposit.”

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Harlan Meade

or Catalin Chiloflischi
Manager, Investor Communications

by Ted Niles

Largo reports Brazil Vanadium Assays as high as 1.07% over 27m

March 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningLargo Resources Ltd TSXV:LGO announced results from its Maracas vanadium project in Bahia, Brazil. Assays include

1.07% vanadium over 27 metres
1.13% over 20 metres
1.09% over 7 metres
1.03% over 12 metres
1.1% over 9 metres
1.05% over 12 metres

VP Exploration Andy Campbell commented, “I am very pleased with the results that the recently completed drill program has produced and anticipate that this program will lead to a significant increase in the global resources at the project. We targeted specific stepout holes away from the Gulcari “A” deposit which have led to some of what we believe are considerable extensions to the existing resource. With the drill program completed we are now focused on incorporating these new results into our database and updating our geological model in order to produce a new mineral resource for the project.”

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Darcie Ladd
Manager, Business Development

by Ted Niles

Goldgroup reports Mexico Tunnel Samples including 1.13 g/t gold over 49.4m

March 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningGoldgroup Mining Inc TSX:GGA announced tunnel assays from its Caballo Blanco Gold Project in Veracruz State, Mexico. Results for the main tunnel show
1.13 g/t gold over 49.4 metres (channel sample)
1.04 g/t over 49.4 metres (blast sample)

Results for the crosscut tunnel show
1.26 g/t over 28.3 metres (channel sample)
1.17 g/t over 28.3 metres (blast sample)

Goldgroup expects to release initial results of the project’s preliminary economic assessment in mid-April. The company has a draft report but is waiting for final determination of a few key parameters before the results can be issued.

View Company Profile

Keith Piggott

or Stephanie Batory
Investor Relations

Read feature story on Goldgroup Mining Inc.

by Greg Klein

Edgewater reports Spain Gold Results up to 2 g/t over 66.5m

March 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEdgewater Exploration Ltd TSXV:EDW announced assays from its Corcoesto Gold Project in northwest Spain. Results include

2 g/t gold over 66.5 metres
(including 18.65 g/t over 1.1 metres)
0.73 g/t over 119.8 metres
(including 1.22 g/t over 18.9 metres)
1.91 g/t over 33.5 metres
(including 4.26 g/t over 9.7 metres)
1.38 g/t over 37 metres
1.91 g/t over 20 metres
0.55 g/t over 61.3 metres
2 g/t over 13.8 metres

President/CEO George Salamis commented: “The infill drilling program at Corcoesto continues to confirm good continuity and excellent widths, in some cases surpassing expectations in grades and widths encountered. The current phase of drilling will culminate in the tabling of an updated resource estimate during 3Q which will form an integral part of the ongoing definitive feasibility study being completed by Tetra Tech. In conjunction with our project finance adviser, we are finalizing discussions with several financial institutions for the initial project development capital. The capital requirement will be based on the completion of the feasibility study later this year.”

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Ryan King

by Greg Klein

Bayfield reports Ontario Assays of 5.28 g/t Gold, 77.82 g/t Silver over 10.5m

March 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningBayfield Ventures Corp TSXV:BYV announced results from its Burns Block gold-silver project in northwestern Ontario. Assays include

0.6 g/t gold and 7.44 g/t silver over 7 metres
(including 0.94 g/t gold and 12 g/t silver over 1.5 metres)
0.34 g/t gold and 12.77 g/t silver over 4.5 metres
1.31 g/t gold and 2.05 g/t silver over 3 metres
5.28 g/t gold and 77.82 g/t silver over 10.5 metres
(including 11.98 g/t gold and 269.37 g/t silver over 1.9 metres)
0.95 g/t gold and 23.7 g/t silver over 1 metre
0.89 g/t gold and 6.01 g/t silver over 6.5 metres
1.48 g/t gold and 11.93 g/t silver over 32.3 metres
(including 7.75 g/t gold and 52.05 g/t silver over 2.4 metres)

The Burns Block project is located adjacent to Rainy River Resources’ TSX:RR Rainy River gold project.

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Read more about Bayfield Ventures

James G. Pettit

or Don Myers

by Ted Niles

NGEx reports Argentina Gold Assays as high as 0.42 g/t over 520m

March 29th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningNGEx Resources Inc TSX:NGQ announced results from its Josemaria project in San Juan province, Argentina. Assays include

0.51 g/t gold over 66 metres
0.35 g/t gold and 0.4% copper over 396 metres
0.38 g/t gold and 0.32% copper over 110 metres
0.67 g/t gold over 38 metres
0.42 g/t gold and 0.54% copper over 520 metres
0.67 g/t gold over 44 metres
0.41 g/t gold and 0.51% copper over 404 metres
0.39 g/t gold and 0.54% copper over 404 metres

President/CEO Wojtek Wodzicki commented, “We are encouraged with the initial results from the Josemaria infill program and are pleased that they appear to confirm the presence of a higher grade core to the deposit. We are also encouraged by the fact that the drilling has better defined a gold-rich portion of the remnant leached cap that overlies part of the deposit. If confirmed by subsequent results both of these zones would have the potential to have a positive impact on the economics of the deposit. The results published today are the first of what is expected to be a steady flow of results from all three projects that will last for the next several months.”

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Sophia Shane
Corporate Development

by Ted Niles

Mexican Focus

March 28th, 2012

Cangold Pushes Ixhuatan Gold Project toward Prefeasibility

By Greg Klein

Now this is a testament to the lure of gold—and of Mexico. Two producing silver mines, a silver development project and a silver exploration project, all south of the Rio Grande, didn’t quite satisfy the management of Great Panther Silver TSX:GPR. Hence the existence of Cangold TSXV:CLD, a company whose management and board are almost identical to Great Panther’s. Having picked up a 75% option on the Ixhuatan Project in the same country, Cangold has a gold project moving toward prefeasibility.

“The beauty of this is that it’s an advanced-stage project with a compliant resource of 1.7 million gold ounces,” says President/CEO Bob Archer. “And because it’s the same management team as Great Panther, we can move it into production, if that’s the case.”

Cangold Pushes Ixhuatan Gold Project toward Prefeasibility

Cangold’s Ixhuatan Project came with a 1.7-million-ounce gold resource

Located in the southern state of Chiapas, the 4,176-hectare property had already seen 89,000 metres of drilling in 342 holes. “That’s a huge amount, and the deposit itself is fairly well defined,” says Archer. “So there’s really no need to update the resource. We’ve made it current from a regulatory standpoint, and any additional drilling will come at the prefeasibility stage, mostly a few fill-in holes, if there are any gaps in the model, or a couple of additional holes for a more detailed metallurgical study.”

Included in the project’s May 2011 43-101 technical report is a 2006 resource estimate for the Campamento Deposit, one of nine mineralized zones. The measured category shows 1.95 million tonnes grading 3.49 grams per tonne gold and 15.84 g/t silver for 219,000 gold ounces and 990,000 silver ounces. The indicated category shows 15.62 million tonnes grading 1.64 g/t gold and 6.79 g/t silver for 823,000 gold ounces and 3.41 million silver ounces. Inferred resources come to 21.75 million tonnes grading 1.01 g/t gold and 3.23 g/t silver for 703,000 gold ounces and 2.26 million silver ounces. These numbers use a 0.5 g/t gold cutoff.

Under last September’s option agreement—labelled a reverse takeover by the TSXV—Cangold may acquire 75% of Linear Gold, the project’s owner and a subsidiary of Brigus Gold Corp TSX:BRD, by paying Brigus a total of $10 million and 20 million Cangold shares over two years and completing feasibility within three years. Following production, Brigus would get $5 per gold ounce in the proven and probable reserves shown in the feasibility study as well as a 2% net smelter royalty.

Brigus did the deal with us because of our management team,” Archer declares. “They were focused on their Black Fox Gold Mine near Timmins, so Ixhuatan was a bit of an orphan for them. They had no team in Mexico, and they weren’t getting any value for it in their share price. So they decided to do the deal with a group that was already well established in Mexico, knew how to operate there and was ready to move the project forward.”

Metallurgical testing is already underway, part of an internal scoping study that will likely lead to an independent prefeasibility for an open pit mine by late summer or early fall. The metallurgy gets a bit fussy because southern Mexico’s rainfall rules out heap-leach processing. “We’d like to use a contained process that would avoid any requirement for cyanide or anything like that. That would lead to a more environmentally friendly operation,” Archer says.

The beauty of this is that it’s an advanced-stage project with a compliant resource of 1.7 million gold ounces. And because it’s the same management team as Great Panther, we can move it into production —Bob Archer

As for infrastructure, “It’s great,” Archer says. “There’s a relatively short gravel road that leads right onto the property and paved roads leading to a number of nearby towns.”

While the scoping study takes place, the company works on community relations. “Again, one of the beauties of this project is that we don’t have to go in with a big drill program. We have the luxury of time, which allows us to engage the local communities and find out what their concerns might be. There are far too many projects that have been stopped in their tracks because companies didn’t communicate properly.”

At the opposite end of the country, in Sonora State, Cangold has the early-stage Plomo Project. “It’s very close to a major regional structure that comes through northwestern Mexico,” Archer reports. “Most of the deposits in that region are related to the structure, both spatially and geologically. It’s only about 25 kilometres from La Herradura [44% owned by Newmont TSX:NMC], one of Mexico’s largest gold mines. We’ve defined an area that’s about five kilometres long and three kilometres wide with a number of gold-bearing zones. We’ll be going back to start mapping and sampling and ultimately resume drilling later this year.”

Cangold is earning 100% of Plomo subject to a 2% NSR with a private owner. Cangold also owns the Argosy Project, a past-producing gold mine in Ontario’s Red Lake District. But that one’s up for grabs, according to Archer. He wants to stay focused on Mexico.

“I love working there,” he says. “I had worked there back in the late 1990s, when I started Great Panther with a friend who’s a Mexican mining engineer. We wanted to build a Mexican mining company. The governments at all levels are very supportive of mining in general, and there’s a good mining act. The geology is fantastic, and there are still lots of discoveries to be made.”

At press time Cangold, had 33.9 million shares trading at $0.20 for a market cap of $6.8 million. “Yet we’re earning 75% of a 1.7-million-ounce gold deposit,” Archer concludes. “The share price doesn’t reflect the potential of the project whatsoever. I think there’s a huge upside there.”

Energizer VP Brent Nykoliation on Madagascar metallurgical results, private placement

March 28th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEnergizer Resources Inc TSX:EGZ announced metallurgical test results from its Green Giant Project in Madagascar and a private placement by DRA Mineral Projects.

The North Carolina State University Minerals Research Laboratory analyzed graphite ore samples from the project’s Fotsy and Molo zones for preliminary evaluations of recovery. Simple mechanical crushing with no flotation yielded flake sizes of +50 mesh. According to Tom Burkett, VP of Graphite Materials & Systems at SGL Group, the world’s largest carbon company, +50 mesh is considered jumbo flake. Both ores have produced graphite concentrates at purities of +90%.

Energizer also announced a private placement of 2.54 million shares for US$635,000 has been closed with DRA Africa Pty Ltd, a wholly owned subsidiary of DRA Mineral Projects. DRA now holds 1.6% of Energizer, with the right to acquire a total of up to 5%. DRA is a technical partner of Energizer.

We have the money, we’re well-funded right now. So for us it’s pitter, patter, let’s get at her—Brent Nykoliation

Energizer VP of Business Development Brent Nykoliation tells, “What sets this project apart from others is its size. We describe it as a graphite camp. We have multiple deposits within our own property. We have 17 distinct zones so far. There’s no other project, according to the analysts that we’ve talked to, that have the scale of ours. We have over 320 line-kilometres of confirmed graphitic mineralization at surface. We’ve now drill-tested seven of the 17 zones. Assays have come back on two, the Fondrana and the Fotsy zones, and results from the Molo Zone will be coming out. The Molo Zone is very wide. Its strike length can be measured in kilometres. What sets us apart from the market is our size. Now that we’ve told the market we have large/jumbo flake, and we have over 90% purity, well, to me that’s a tri-factor. Our grades are around seven. We have samples that go as high as 22% carbon. We’ve already reported drill holes of 118 metres at 6.24%, 46 metres at 7%: so, very high grades, very wide widths, very long strike lengths. They’re open at depth, open along strike. Dundee Resources has said to us, ‘What makes you guys so compelling is you’re developing a graphite camp.’

“A camp by definition means very large, multiple deposits in a single source,” he explains. “Our project also has a 43-101-compliant vanadium resource. We’re the third-largest known deposit of vanadium, according to Dundee. So we now have a second mineral. They’re both deemed to be strategic, and graphite is now deemed critical by the EU, China and the United States, so for us to have both of those in the same place is unique.

“We have a strategic alliance with DRA Mineral Products,” Nykoliation adds. “They’re our technical partner, and they do total mine design all the way to operational mines. They do engineering, procurement, management, construction, everything. For DRA to put an equity position into a company is very rare. They’ve only done that three times and never with a company at this stage. This shows their confidence in the project.

“They’re Africa’s largest mine development company, they build and run mines for Xstrata XSRAF, Rio Tinto RIO, Vale VALE—they’re world class. For them to be partnering with little old Energizer shows we have something of interest to them. One of their directors has joined our board; another joined our special advisory committee. These aren’t silent partners; they’re very engaged.”

Nykoliation continues, “So what makes our project stand out is the project’s size, its large flake and its high purities. No one else can say they have the combination of those three. Then consider the strategic alliance and now the equity investment by DRA, which is very unique. Given that we’re in Madagascar, our location to the markets is another key advantage. There’s the location to Asia and Europe. The big, big buyers of vanadium and graphite are going to be Asian. So the fact that Madagascar is close to the Asian market is a big bonus for us.

“We’re moving very quickly to resource drilling. Our geologist and senior Vice-President of Exploration Craig Scherba will be back in Madagascar in April. The rainy season ends in March. We’ll delineate a 43-101-compliant resource on the graphite in very short order. We should have it finished by July or August. We’ll be in a position to have completed our preliminary economic assessment on the graphite by the end of Q3 and we’ll be in a position to go to bankable feasibility by Q4 of this year. We’re moving very quickly.

“We have the money, we’re well-funded right now. So for us it’s pitter, patter, let’s get at her,” he declares.

Nykoliation concludes, “We have this very large discovery; we’re developing a camp; we have very good grades and wide intersections; we have large/jumbo flake graphite; and we have an excellent partner in DRA. We also have large institutional backers. Cliffs Natural Resources owns 6% of our company. Investors Group owns 9.9%. Dundee owns a chunk of us. So we have very good partners.”

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Brent Nykoliation
VP of Business Development
or Kirk McKinnon

Read feature story on Energizer Resources Inc.

by Greg Klein

Disclaimer: Energizer Resources Inc is a client of OnPage Media, and the principals of OnPage media may hold shares in Energizer.