Tuesday 6th December 2016

Resource Clips


All posts by Ted Niles - Resource Clips

Alto President Mike Koziol on Quebec JV gold assays of 22.7 g/t over 1.1m

May 15th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlto Ventures Ltd TSXV:ATV in joint venture with Next Gen Metals Inc TSXV:N announced assay results from the Despinassy Shear Zone of the Destiny Gold Project in Quebec. Highlights include

1.54 g/t gold over 1 metre
2.78 g/t over 1 metre
1.07 g/t over 4.4 metres
6.6 g/t over 1 metre
22.7 g/t over 1.1 metres
0.9 g/t over 5.5 metres (including 3.39 g/t over 1 metre)

Alto has a 100% interest in Destiny and is the project operator. Next Gen has acquired a 60% option interest in the property. The drilling tested for the presence of gold mineralization at shallower depth and along strike between the Destiny Gold Project’s DAC Deposit and Darla Zone. The DAC Deposit has a mineral resource estimate of 364,000 ounces gold indicated and 247,000 ounces inferred.

There’s a good chance that this thing can go well over one million ounces—Mike Koziol

President Mike Koziol tells ResourceClips.com, “Destiny is essentially a new discovery that was made back somewhere around 1998. It’s in the Abitibi Greenstone Belt, about 75 kilometres north of Val d’Or. The area is essentially covered by overburden—pretty well 10 metres to 15 metres all the way through of Abitibi clay. Everything we know about it is from drilling and from airborne and ground geophysics. There’s a major deformation corridor that runs roughly east-west that the Destiny deposit is contained in. We’ve traced that corridor now for about six kilometres of airborne geophysics, and we’ve found gold mineralization along four kilometres of that structure with widely spaced drilling. The DAC deposit is one area [of it]—that’s about 600 metres long on that structure—and it’s actually got enough gold for a deposit. The drilling we’ve just reported essentially fills a gap between the DAC deposit and another zone that we found back in 2000, the Darla Zone. It’s about a kilometre away, and there’s been very little drilling there in the past, because back then we were looking for shear-hosted quartz veins. So the drilling we’ve done now has essentially filled that gap and confirmed that gold continues from the DAC deposit all the way through to Darla. We’ll be requiring some infill drilling to see what significance that has to add to our DAC deposit.

“At the present time we’re just getting our results together,” Koziol continues, “and we should be meeting with our partners towards the end of June to see what the next steps are. We can’t do too much there [right now] because winter conditions are more desirable than summer conditions—it’s not wet, but it’s not dry either.

“We’re 75 kilometres north of Val d’Or and 800 metres south of a provincially numbered highway. While we’ve got a powerline that heads right through the middle of the deposit, Hydro Quebec won’t let you use it. But there is a small municipality about eight kilometres south of there, from which we can get power. There is also a source of power running along the highway. So there’s all the infrastructure that you want there, and the Quebec government is very supportive.

Koziol notes that Alto Ventures considers itself an early-stage exploration company and that, “We are probably not equipped to take [Destiny] to production by ourselves.”

Koziol does not see his company’s value reflected in its market cap. He explains, “We have only 23 million shares outstanding, and we’ve got the Destiny project, in which Next Gen is earning a 60% interest. That already has a resource, and this drilling adds significantly to it. We also have the Oxford Lake Project in Manitoba—it’s still fairly early stage, but it’s not a grassroots project by any means. It’s got an historical resource, and our drilling this winter has confirmed that the historical resource is there and that there is good potential to add to it. Then in the Beardmore-Geraldton camp we have a Trelawney lookalike—the Miner Lake property—and there’s potential for large-tonnage, low-grade mineralization right on surface. We did quite a bit of work there last summer and some drilling last fall. And we’ve got 11 million shares of Foundation Resources from the sale of our interest in the Coldstream Gold Project, plus another $950,000 in cash coming from them for the final payment.”

As to funding, Koziol reports, “At the present time we’re looking to seek some funds to do some other exploration work. We’ll see what happens in the next month or two with the markets.”

He concludes, “We’ve progressively advanced the project, so that’s very positive. It’s always been a forward motion, we haven’t really stepped back. We’ve taken it from a bunch of drill-hole intersections right through to a resource of close to 600,000 ounces combined inferred and indicated. Now the drilling indicates there’s gold well beyond where we’ve drilled, so there’s a good chance that this thing can go well over one million ounces. We’ll do some infill drilling and see how that goes.”

View Company Profile

Contact:
Alto Ventures Ltd
Mike Koziol
President/Director
705.522.6372

or Matt Terriss
Director, Corporate Affairs
604.638.3947

by Ted Niles

Oracle reports Arizona Copper Assays up to 5.81% over 5.3m

May 15th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningOracle Mining Corp TSX:OMN announced results from its Oracle Ridge Copper Mine in south Arizona. Assays include

5.81% copper and 1.65 g/t silver over 5.3 metres
2.57% copper over 2 metres
1.78% copper over 4.1 metres
2.56% copper over 6.3 metres
2.32% copper over 26.7 metres
2.08% copper over 2.9 metres
3.27% copper over 7.9 metres

The Oracle Ridge Copper Mine operated from 1991 to 1996 at a rate of 1,000 tonnes per day. The current drill program is being undertaken to confirm the historic database. Its completion will allow the corporation to conduct an NI 43-101 resource estimate.

View Company Profile

Contact:
Alex Langer
VP Capital Markets
604.689.9293

or Jason Mercier
VP, Corporate Secretary
604.689.9261

by Ted Niles

Metals Creek reports Ontario Gold Assays including 5.83 g/t over 16.3m

May 15th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMetals Creek Resources Corp TSXV:MEK announced results from the Ogden Gold Project in Timmins, Ontario. Assays include

2.34 g/t gold over 43.7 metres (including 5.04 g/t over 15 metres)
5.83 g/t over 16.3 metres
3.6 g/t over 2.7 metres
4.03 g/t over 1 metre

The Ogden Project is under option from Goldcorp Canada Ltd and Goldcorp Inc TSX:G. Metals Creek is earning a 50% interest by spending $3.1 million and issuing cash and shares totaling $460,000 over four years.

View Company Profile

Contact:
Metals Creek Resources Corp
Alexander (Sandy) Stares
President/CEO
709.256.6060

by Ted Niles

Alto, Next Gen report Quebec Destiny gold assays as high as 22.7 g/t over 1.1m

May 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlto Ventures Ltd TSXV:ATV in joint venture with Next Gen Metals Inc TSXV:N announced assay results from the Despinassy Shear Zone of the Destiny Gold Project in Quebec. Highlights include

1.54 g/t gold over 1 metre
2.78 g/t over 1 metre
1.07 g/t over 4.4 metres
6.6 g/t over 1 metre
22.7 g/t over 1.1 metres
0.9 g/t over 5.5 metres (including 3.39 g/t over 1 metre)

Alto has a 100% interest in Destiny and is the project operator. Next Gen has acquired a 60% option interest in the property. The drilling tested for the presence of gold mineralization at shallower depth and along strike between the Destiny Gold Project’s DAC Deposit and Darla Zone. The DAC Deposit has a mineral resource estimate of 364,000 ounces gold indicated and 247,000 ounces inferred.

There’s a good chance that this thing can go well over one million ounces—Mike Koziol

President Mike Koziol tells ResourceClips.com, “Destiny is essentially a new discovery that was made back somewhere around 1998. It’s in the Abitibi Greenstone Belt, about 75 kilometres north of Val d’Or. The area is essentially covered by overburden—pretty well 10 metres to 15 metres all the way through of Abitibi clay. Everything we know about it is from drilling and from airborne and ground geophysics. There’s a major deformation corridor that runs roughly east-west that the Destiny deposit is contained in. We’ve traced that corridor now for about six kilometres of airborne geophysics, and we’ve found gold mineralization along four kilometres of that structure with widely spaced drilling. The DAC deposit is one area [of it]—that’s about 600 metres long on that structure—and it’s actually got enough gold for a deposit. The drilling we’ve just reported essentially fills a gap between the DAC deposit and another zone that we found back in 2000, the Darla Zone. It’s about a kilometre away, and there’s been very little drilling there in the past, because back then we were looking for shear-hosted quartz veins. So the drilling we’ve done now has essentially filled that gap and confirmed that gold continues from the DAC deposit all the way through to Darla. We’ll be requiring some infill drilling to see what significance that has to add to our DAC deposit.

“At the present time we’re just getting our results together,” Koziol continues, “and we should be meeting with our partners towards the end of June to see what the next steps are. We can’t do too much there [right now] because winter conditions are more desirable than summer conditions—it’s not wet, but it’s not dry either.

“We’re 75 kilometres north of Val d’Or and 800 metres south of a provincially numbered highway. While we’ve got a powerline that heads right through the middle of the deposit, Hydro Quebec won’t let you use it. But there is a small municipality about eight kilometres south of there, from which we can get power. There is also a source of power running along the highway. So there’s all the infrastructure that you want there, and the Quebec government is very supportive.

Koziol notes that Alto Ventures considers itself an early-stage exploration company and that, “We are probably not equipped to take [Destiny] to production by ourselves.”

Koziol does not see his company’s value reflected in its market cap. He explains, “We have only 23 million shares outstanding, and we’ve got the Destiny project, in which Next Gen is earning a 60% interest. That already has a resource, and this drilling adds significantly to it. We also have the Oxford Lake Project in Manitoba—it’s still fairly early stage, but it’s not a grassroots project by any means. It’s got an historical resource, and our drilling this winter has confirmed that the historical resource is there and that there is good potential to add to it. Then in the Beardmore-Geraldton camp we have a Trelawney lookalike—the Miner Lake property—and there’s potential for large-tonnage, low-grade mineralization right on surface. We did quite a bit of work there last summer and some drilling last fall. And we’ve got 11 million shares of Foundation Resources from the sale of our interest in the Coldstream Gold Project, plus another $950,000 in cash coming from them for the final payment.”

As to funding, Koziol reports, “At the present time we’re looking to seek some funds to do some other exploration work. We’ll see what happens in the next month or two with the markets.”

He concludes, “We’ve progressively advanced the project, so that’s very positive. It’s always been a forward motion, we haven’t really stepped back. We’ve taken it from a bunch of drill-hole intersections right through to a resource of close to 600,000 ounces combined inferred and indicated. Now the drilling indicates there’s gold well beyond where we’ve drilled, so there’s a good chance that this thing can go well over one million ounces. We’ll do some infill drilling and see how that goes.”

View Company Profile

Contact:
Alto Ventures Ltd
Mike Koziol
President/Director
705.522.6372

or Matt Terriss
Director, Corporate Affairs
604.638.3947

by Ted Niles

Salazar reports Ecuador assays of 3.05 g/t Gold, 57.48 g/t Silver over 3.2m

May 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSalazar Resources Limited TSXV:SRL announced results from its Curipamba VMS Project in Ecuador. Assays include

2.26 g/t gold and 59.27 g/t silver over 4.6 metres
1.09 g/t gold and 66.1 g/t silver over 1.4 metres
1.49 g/t gold and 13.81 g/t silver over 5.1 metres
3.05 g/t gold, 51.24 g/t silver, 0.86% copper, 0.85% lead and 7.88% zinc over 3.6 metres
3.9 g/t gold, 102.77 g/t silver and 5.99% zinc over 2.1 metres
3.05 g/t gold, 57.48 g/t silver, 2.14% copper and 4.45% zinc over 3.2 metres

President/CEO Fredy Salazar stated, “We have now completed the Phase IV drill program at El Domo and drill rigs have been demobilized. We await final results from the drill program and then will begin planning on how to best advance the future development of El Domo to maximize shareholder value. While the Phase IV drill program has concluded, we are continuing with our surface geological program with the objective of identifying and proving up new targets. While additional results from the Phase IV drill program are pending, we are very pleased with the results to date which continue to demonstrate the presence of mineralization outside the established resource blocks. The Phase IV drill program has successfully identified new areas with potential to increase the El Domo resource.”

View Company Profile

Contact:
Investor Relations
647.925.8981

by Ted Niles

Finore announces $5.9-Million Private Placement

May 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningFinore Mining Inc CNX:FIN announced a non-brokered private placement of up to 23.6 million units at $0.25 per unit, for gross proceeds up to $5.9 million. Net proceeds will be used for general working capital purposes and for the exploration and development of its Läntinen Koillismaa Project. Work at LK will include completion of a 15,000-metre drill program, additional metallurgical test work and the completion of an updated mineral resource estimate for the Haukiaho and Kaukua targets.

Under an option with Nortec Minerals Corp TSXV:NVT, Finore may earn an undivided 80% interest in the LK Project, which comprises 3,750 hectares in north-central Finland. According to a February 43-101 resource estimate, it contains 86,322 ounces PGE + gold, 4,908 tonnes copper and 3,464 tonnes nickel indicated and 602,550 ounces PGE + gold, 63,153 tonnes copper and 40,534 tonnes nickel inferred.

View Company Profile

Contact:
Peter Hughes
Chairman
604.688.9588

by Ted Niles

Pacific Wildcat reports Kenya Assays up to 4.78% TREO over 91m

May 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningPacific Wildcat Resources Corp TSXV:PAW announced results from its Mrima Hill Niobium and Rare Earth Project in Kenya. Assays include

14.8% total rare earth oxides over 23 metres
4.02% TREO over 65 metres
4.78% TREO over 91 metres
1.07% niobium over 62 metres
0.88% niobium over 93 metres
1.44% niobium over 23 metres
1.3% niobium over 12 metres
1.35% niobium over 14 metres
1.65% niobium over 11 metres
1.66% niobium over 12 metres

President Darren Townsend remarked, “The initial results from the 2012 RC drill program are highly encouraging for both depth and grade of rare earths and niobium. Work continues on evaluating all the drill results received to date and once this is complete we look forward to finishing the residual 5,000 metres of the drill program and progressing towards an inaugural rare earth resource for Mrima Hill.”

View Company Profile

Contact:
Don Willoughby
Corporate Communications Manager
416.306.5777

by Ted Niles

Coeur d’Alene, Mirasol report Argentina Silver Assays including 71 g/t over 156m

May 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningCoeur d’Alene Mines Corporation TSX:CDM in joint venture with Mirasol Resources Ltd TSXV:MRZ announced assays from the La Negra Deposit of the Joaquin Silver Project in Santa Cruz Province, Argentina. Results include

64 g/t silver over 37 metres
98 g/t silver over 25 metres
0.57 g/t gold and 91 g/t silver over 25 metres
(including 1.1 g/t gold and 164 g/t silver over 12 metres)
63 g/t silver over 49 metres
77 g/t silver over 38 metres
71 g/t silver over 156 metres
77 g/t silver over 27 metres
72 g/t silver over 46 metres
179 g/t silver over 45 metres (including 1,077 g/t silver over 6 metres)
0.79 g/t gold and 3,208 g/t silver over 26.6 metres
(including 1.84 g/t gold and 17,905 g/t silver over 3 metres)
0.59 g/t gold and 1,970 g/t silver over 28 metres
215 g/t silver over 45 metres
211 g/t silver over 27 metres

Coeur d’Alene has a 51% interest in the Joaquin Project and is the operator. The project has indicated resources of 19.69 million ounces silver and 36,000 ounces gold, and inferred resources of 47.95 million ounces silver and 43,000 ounces gold.

View Company Profile

Contact:
Mirasol Resources Ltd
Mary L. Little
President/CEO
604.602.9989

by Ted Niles

Alacer reports Turkey Gold Assays as high as 1.5 g/t over 323m

May 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlacer Gold Corp TSX:ASR announced results from its Çöpler Gold Mine in Turkey. Assays include

1.5 g/t gold over 323 metres
1.9 g/t over 65.8 metres
1.3 g/t over 112.2 metres
4.6 g/t over 15 metres
3.4 g/t over 13.7 metres
3 g/t over 37.7 metres
4.7 g/t over 88.2 metres
8.5 g/t over 33.8 metres
12.4 g/t over 17 metres

President/CEO Edward Dowling stated, “Drilling at Çöpler continues to demonstrate that we have yet to define the extent of this large gold deposit. We have recently commenced initial drilling of the area surrounding the old Çöpler village. This area has excellent potential as it has been a gap in drilling along the central-northern portion of the Çöpler orebody.”

View Company Profile

Contact:
Edward Dowling
President/CEO
303.292.1299

by Ted Niles

EurOmax reports Bulgaria Assays up to 2.38 g/t Gold, 3,450 g/t Silver over 3m

May 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEurOmax Resources Ltd TSXV:EOX announced assays from the KD and Logo zones of its Trun Project in Bulgaria. Results include

0.71 g/t gold and 974.8 g/t silver over 12.8 metres
(including 2.38 g/t gold and 3,450 g/t silver over 3 metres)
1.25 g/t gold over 20.1 metres
81.3 g/t silver over 52.5 metres
0.86 g/t gold over 22.7 metres
0.83 g/t gold over 23.7 metres
1.07 g/t gold over 20.4 metres
112.6 g/t silver over 21.7 metres
1.37 g/t gold over 19.1 metres
0.55 g/t gold and 62.5 g/t silver over 29.9 metres
1.16 g/t gold over 7.2 metres

Chief Geologist Quinton Hennigh commented, “We are very pleased with results from this high-grade silver shoot at Trun. The KD zone is part of a long list of mineralized zones recognized across this very large project. At least seven significant zones of near-surface gold and/or silver mineralization have now been identified at Trun.”

View Company Profile

Contact:
Mark Gustafson
President/CEO
604.454.8677

by Ted Niles