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Resource Clips


April, 2012

Shock Waves

April 30th, 2012

Majescor Flourishes in Post-Quake Haiti

By Ted Niles

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Dan Hachey tells a revealing story. The President/CEO of Majescor Resources TSXV:MJX relates how, “A few weeks ago, an institutional investor came up to us and said, ‘You are the guys working in Haiti? Well, God bless you and good luck,’ and he walked away. That’s what we’ve had to deal with from the beginning on this project.” Haiti has a reputation that’s hard to shake, but Hachey is confident that, paradoxically enough, one of the worst natural disasters of recent years will prove to be the catalyst of a national renaissance.

Haiti is the poorest country in the Americas and has been, over the last century, plagued by a succession of bloody dictatorships, coups d’état and failed attempts at democratic reform. In January 2010, it was traumatized by an earthquake and subsequent cholera outbreak that resulted in the deaths of over 300,000.

Majescor Flourishes in Post-Quake Haiti

Majescor’s SOMINE project: Investment in Haiti and jobs for Haitians

Hachey reports, “The things that I expected are happening. The world wanted to help and provided capital to get things moving there. And the eyes of the world on Haiti [have] forced political change.” He regards the April 2011 election of President Michel “Sweet Micky” Martelly as a turning point. “Martelly has stated that [Haiti] is open for business. We’ve seen a lot of change since he’s been elected.” The Martelly administration has targeted the creation of 500,000 jobs over the next three years and, drawing inspiration from its neighbour, the Dominican Republic, sees big opportunities in tourism and mining.

Hachey says, “Thirty years ago there was no mining sector to speak of in the Dominican Republic, nor tourism. In that short period of time they’ve seen the development of [Barrick TSX:ABX and Goldcorp's TSX:G] Pueblo Viejo Project, which is one of the world’s largest gold deposits—and is pretty much a neighbour of ours. They’re going to be coming on with production this year.”

Hachey points out that “The mineralization does not stop at the border.” The Massif du Nord Metallogenic Belt stretches diagonally from Haiti’s north through to the southeast of the Dominican Republic, hosting both Pueblo Viejo and Majescor‘s 50-square-kilometre SOMINE copper-silver-gold property (itself surrounded by a number of properties held in joint venture by Eurasian Minerals TSXV:EMX and Newmont Mining TSX:NMC).

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Partner Content

April 30th, 2012

Interview: Grandich bets the Ranch by The Grandich Report
Humble Ben by GoldSeek
Strike Graphite strikes First in Saskatchewan by VantageWire
Rare Earths Miners Race to the Finish Line: Carolyn Dennis by the Gold Report
A Fundamental Change in Gold by Equedia
Analysts criticize Iamgold Acquisition by Financial Post

Prodigy reports Ontario Gold Results including 1.19 g/t over 261.2m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: On December 11, 2012, Prodigy Gold Inc was acquired by Argonaut Gold Inc TSX:AR.)

Prodigy Gold Inc TSXV:PDG announced results from its Magino Gold Project in south-central Ontario. Highlights include

1.19 g/t gold over 261.2 metres
(including 1.84 g/t over 67 metres)
0.83 g/t over 201.5 metres
(including 1.07 g/t over 133 metres)
1.37 g/t over 125 metres
0.62 g/t over 278 metres
(including 1 g/t over 134 metres)
1.48 g/t over 109 metres
(including 9.52 g/t over 10 metres)
1.01 g/t over 89 metres
(including 1.44 g/t over 54.3 metres)

A full feasibility study for the proposed open-pit mine is scheduled for completion in 2012. President/CEO Brian Maher commented, “The tremendous success of our infill and resource expansion drilling program, both at Lovell Lake and in the main Magino Deposit, has prompted the company to plan for an updated gold resource estimate for the Magino Project in June 2012. In addition, the current drill results demonstrate excellent continuity within the Magino Gold Deposit in areas previously modeled as inferred resources.”

View Company Profile

Contact:
Prodigy Gold Inc
604.688.9006
888.688.9006

by Greg Klein

Premier reports Ontario Gold Assays including 21.26 g/t over 5m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPremier Gold Mines Limited TSX:PG announced assays from the Fortune and K-Zone zones of its Trans-Canada Project in northwestern Ontario. Results include

14.3 g/t gold over 4 metres
21.26 g/t over 5.1 metres
18.2 g/t over 9.7 metres
10.77 g/t over 8.3 metres
62.8 g/t over 3 metres
13.66 g/t over 7 metres
64.14 g/t over 4.5 metres
116 g/t over 1 metre
16.31 g/t over 2.2 metres
12.95 g/t over 2.7 metres
12.84 g/t over 3.6 metres

VP Exploration Brian Morris stated, “Drilling continues to demonstrate the high-grade nature of recent vein zones being targeted at [the] Hardrock [zone]. Owing to the ongoing success in delineating the recently identified Fortune Zone, the revised resource estimate is delayed to maximize resources in this horizon as well as to potentially optimize the economics in a PEA. Going forward, we will continue to define the Fortune Zone but also begin exploration on several other prospective high-grade targets.”

View Company Profile

Contact:
Ewan Downie
President/CEO
807.346.1390

by Ted Niles

Fancamp reports Ontario Results of 28.6% Total Iron or 40.9% Iron Oxide over 422m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningFancamp Exploration Ltd TSXV:FNC announced results from its Desolation Lake Project in northern Ontario. Highlights include

28.6% total iron or 40.9% iron oxide over 422 metres
(including 32.6% total iron or 46.6% iron oxide over 102 metres)
33.8% total iron or 48.3% iron oxide over 26 metres

Desolation Lake is owned 80% by Fancamp and 20% by the Sheridan Platinum Group and is located in the James Bay Lowlands. The property was staked to cover a large magnetic anomaly covered by an estimated of 300 to 400 metres of Paleozoic limestone and is situated at the intersection of regional structural lineaments.

View Company Profile

Contact:
Peter H. Smith
President
514.481.3172

by Greg Klein

Auriga reports Manitoba Gold Assays up to 1.18 g/t over 8.5m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAuriga Gold Corp TSXV:AIA announced drill results from the Nokomis and Puffy Deposits of its Maverick Gold Project in Manitoba. Highlights include

94.35 g/t gold over 0.3 metres
1.12 g/t over 2.8 metres
1.04 g/t over 2.7 metres
5.46 g/t over 1.1 metres
2.79 g/t over 6 metres
1.81 g/t over 2 metres
4.89 g/t over 1.5 metres
1.18 g/t over 8.5 metres
13.72 g/t over 1 metre
11.64 g/t over 1 metre
8.25 g/t over 1 metre

CEO Richard Sutcliffe commented, “The Nokomis drilling has defined a zone of consistent near-surface high-grade mineralization. Following a NI 43-101 resource estimate, the company plans to evaluate the deposit for open-pit mining as part of a strategy of defining low-cost shallow resources on the Maverick mineralized trend. The Nokomis Deposit is located only seven kilometres northeast of the Maverick mill and could potentially contribute significantly more near-surface ore for our proposed mining operation evaluated in the preliminary economic assessment.”

View Company Profile

Contact:
Richard H. Sutcliffe
President/CEO
416.214.2785

or Alison Tullis
Manager, Investor Relations
416.214.2785

by Ted Niles

Esperanza reports Mexico Results as high as 1.05 g/t Gold over 121.5m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEsperanza Resources Corp TSXV:EPZ announced results from its Cerro Jumil Project in Morelos State, Mexico. Highlights include

1.05 g/t gold over 121.5 metres
1.94 g/t over 45 metres
(including 3.34 g/t over 13.5 metres)
2.83 g/t over 31.5 metres
1.05 g/t over 42 metres
0.62 g/t over 70.5 metres
2.18 g/t over 18 metres

Cerro Jumil has a September 2010 resource estimate of 282,000 ounces gold and 296,000 ounces silver measured, 630,000 ounces gold and 1.66 million ounces silver indicated and 230,000 ounces gold and 1.9 million ounces silver inferred.

View Company Profile

Contact:
Bill Pincus
President/CEO
866.890.5509

by Greg Klein

Malbex CEO Tim Warman on Argentina assays of 1.1 g/t gold, 19.5 g/t silver over 18m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMalbex Resources Inc TSXV:MBG announced drill results from its Del Carmen Project in San Juan province, Argentina. Highlights include

0.3 g/t gold over 61 metres
1.1 g/t gold and 19.5 g/t silver over 18 metres
(including 5.66 g/t gold and 76.6 g/t silver over 3 metres)
0.46 g/t gold over 19 metres
1.25 g/t gold and 30.6 g/t silver over 6 metres
3.87 g/t gold over 15 metres

President/CEO Tim Warman tells ResourceClips.com, “It’s a project we’ve been working on for a couple of years now. It’s up in the El Indio Belt, a very prospective area. There are a lot of big mines up there. It’s a fairly large alteration system—about nine square kilometers—and we’ve been focused in on one particular area called Rojo Grande. It’s where most of these drill results were from. So really, we’re just building on a resource we put out last year, which was about a million ounces of gold equivalent. It’s shallow, oxide and seems to leach fairly well from the preliminary metallurgical tests.

We probably have three or four companies that have been to the [Del Carmen] site in the last two months. We signed confidentiality agreements with them and exchanged data with them—Tim Warman

“[The results] are not bad,” he continues. “There are some nice, high-grade zones in there. Obviously, in a leaching-type environment the grade is important. Relative to its peers it’s actually got a pretty good grade right now; the resource grade is 1 g/t gold and there aren’t many out there with that kind of grade in terms of oxides. The goal right now is to make it bigger.

“The drilling season has wound down. It’s winter up in the Andes right now, so we pulled the drills out about a week ago. There are still quite a few more drills holes to come in terms of results still pending in the laboratory. This season we’re going to get started on exploring some of our new projects in Argentina and Peru, some lower elevation projects that we can work during the Southern Hemisphere winter. We’ve also got some metallurgical work that is coming, I’m guessing, in May or perhaps in June. We’re looking at some column leach tests on the Del Carmen material to get a better idea quantitatively how well that leaches.

“It’s a relatively expensive area to work. We’ve spent about $20 million in the last two to three years drilling up there. I think we’ve come up with a pretty good resource out of that money. But, particularly given the state of the markets, I think that rather than trying to go back to the markets for another equity raise, it’s time to look for someone who has slightly longer timelines in mind.”

Regarding a possible joint venture, Warman says that discussions are going well. “We probably have three or four companies that have been to the site in the last two months. We signed confidentiality agreements with them and exchanged data with them. We have quite a few more CAs than that, but the serious ones I would guess are about three or four companies and we’re talking with them right now. Our plan has always been to explore [our properties], build them up, de-risk them and pass them on to someone who actually enjoys building mines.

“We’re in San Juan Province which—in terms of being pro-mining—is probably the best province in the whole country to work. There are big mines operating there right now, and it’s highly supported by the government. You can drive up [to Del Carmen] in a Toyota Corolla if you wanted, even though you’re above 4,000 metres in the Andes. It’s mainly because we use the access road that leads up to Barrick’s [TSX:ABX] Pascua-Lama and Veladero projects. And there is water up there. The one thing you don’t have is power, but these heap-leach operations aren’t terribly power hungry anyway.”

Warman adds, “We’re reasonably well funded for the next six months. That’s one of the reasons we want to get a partner in for Del Carmen: we don’t want to go back to the equity markets.”

He concludes, “We’re pretty pleased with how the project is shaping up. It’s proving to be a reasonably sizable resource—maybe not tens of millions of ounces but it certainly has the potential to be a multimillion ounce deposit. It will just take some more drilling and some more time.”

View Company Profile

Contact:
Tim Warman
President/CEO
416.628.0215

or Marla Gale
VP Investor Relations
416.628.0215

by Ted Niles

Graphite Digest

April 27th, 2012

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Sabina reports Nunavut Gold Assays as high as 15.16 g/t over 36.4m

April 27th, 2012

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

5.01 g/t gold over 19.3 metres (including 51.1 g/t over 1 metre)
15.16 g/t over 36.4 metres (including 41.37 g/t over 8.2 metres)
7.15 g/t over 41.1 metres (including 10.87 g/t over 23.3 metres)
4.85 g/t over 23.2 metres (including 13.69 g/t over 5 metres)
8.58 g/t over 20 metres
21.58 g/t over 12.9 metres

President/CEO Rob Pease commented, “We are off to a very good start in our 2012 campaign. The Llama deposit has been challenging to expand, as it has a complex structure marked by faulting and displacement of the host iron formation to the south. We have been working diligently to interpret the deposit and these drill results seem to indicate that we are on the right track. While there is still much more work to be done at Llama, it is important to note the high-grade reported which continues to demonstrate the strong grade and widths of the deposits at Back River. We anticipate that the Llama resource will be enhanced with this drilling. We are also excited about the new discovery targets we have identified at Goose, George, Wishbone and Boulder. We look forward to a continuing stream of news flow as our drill results continue to come in.”

View Company Profile

Read more about Sabina Gold & Silver

Contact:
Rob Pease
President/CEO
604.998.4175

or Nicole Hoeller
VP Investor Relations
604.998.4175

by Ted Niles