Friday 9th December 2016

Resource Clips


Posts tagged ‘burkina faso’

West African plant might indicate kimberlite below

May 7th, 2015

by Greg Klein | May 7, 2015

Calling it a potential game-changer for west African diamond exploration, a geologist says he’s found a plant that might grow only above kimberlites, the Huffington Post reported May 7. While tromping through the Liberian jungle Stephen Haggerty, a professor at Florida International University and head of exploration for Youssef Diamond Mining, came across a thorny plant called Pandanus candelabrum, the journal stated.

West African plant might indicate kimberlite below

Pandanus candelabrum, associated with
Liberian kimberlites, is seen here in Burkina Faso.
Photo: Marco Schmidt/Wikimedia Commons

It’s “the first plant to be described that has a marked affinity for kimberlite pipes,” Haggerty writes in the current edition of Economic Geology. “This could dramatically change the exploration dynamics for diamonds in west Africa, as geobotanical mapping and sampling is cost-effective in tough terrain.”

Unique as this discovery is, it’s hardly the first to associate specific vegetation with mineral deposits. Since the Middle Ages plants like Lychnis alpina have been linked to copper in Sweden, Haggerty pointed out. More recently Haumaniastrum katangense has been associated with copper in Africa. “Other plants have evolved to physiologically stabilize heavy metals … in leaves and bark,” he stated, adding that termite hills have been used to find kimberlite indicator minerals in Botswana, the U.S. and Australia.

Biogeochemistry, the collection and analysis of vegetation samples, can reveal chemical elements absorbed from soil and water, explains Robert Stevens in Mineral Exploration and Mining Essentials. “In some circumstances, biogeochemistry may be a more effective way of identifying anomalies than soil samples,” he related. “This is because tree roots will sample a relatively large and deep area of soil” which can be more representative than a single soil sample. Tree-borne metal anomalies also tend to be closer to their source.

The HP noted 2013 reports of gold-bearing eucalyptus trees that ingested the yellow metal from soil.

Haggerty hopes to find more Liberian kimberlites through satellite mapping of his botanical breakthrough, the HP stated.

Athabasca Basin and beyond

November 3rd, 2013

Uranium news from Saskatchewan and elsewhere for October 26 to November 1, 2013

by Greg Klein

Next Page 1 | 2

Alpha/Fission hit 5.98% U3O8 over 17.5 metres, including 19.51% over 5.5 metres

With so many scintillometer results announced already, assays for the same holes can be anti-climactic. But that’s the way Fission Uranium TSXV:FCU and Alpha Minerals TSXV:AMW have orchestrated their Patterson Lake South campaign, now giving observers a near sense of déjà vu. Assays from four holes announced October 29 add little to the news of August 8, although results from the lab are much more reliable than those from the hand-held radiation-detecting gizmo. The assays come from R00E, the farthest southwest of the project’s five zones.

Hole PLS13-074

  • 0.13% uranium oxide (U3O8) over 2.5 metres, starting at 65 metres in downhole depth

PLS13-076

  • 0.09% over 2 metres, starting at 178.5 metres

  • 0.08% over 1.5 metres, starting at 183 metres

  • 0.16% over 4.5 metres, starting at 186.5 metres

PLS13-077

  • 0.39% over 11.5 metres, starting at 59 metres

  • 0.13% over 15.5 metres, starting at 73 metres

PLS13-079

  • 5.98% over 17.5 metres, starting at 83 metres

  • (including 19.51% over 5 metres) (Update: On November 4 the JV partners corrected the intercept width from 5.5 metres to 5 metres.)

True widths were unavailable. Three of the holes were vertical, while 079 dipped at -75 degrees. That hole expands the zone’s high-grade southern area, the companies stated, while all four holes confirm R00E’s east-west strike at 165 metres. The zone remains open in all directions.

With the summer barge-based campaign complete, attention now turns to a land-based program west of R00E. Fission acts as project operator on the 50/50 joint venture until its acquisition of Alpha closes. Fission shareholders will vote on the deal’s spinout aspect on November 28.

(Update: On November 4 the JV announced a sixth PLS zone west of the discovery. Read more.)

Rio Tinto plans winter drilling at Purepoint’s Red Willow

Purepoint Uranium Group TSXV:PTU announced plans on October 29 by Rio Tinto Exploration Canada for 2,500 metres of drilling at Red Willow, a 25,612-hectare property on the Athabasca Basin’s eastern edge. Rio identified targets based on historic drill logs and more recent geophysical and geochemical work. The company built a 28-person camp last summer.

Depth to unconformity in the area varies from zero to 80 metres, Purepoint stated. The company says five major deposits—JEB, Midwest, Cigar Lake, McArthur River and Millennium—“are located along a NE to SW mine trend that extends through the Red Willow project.”

Rio has so far spent about $2.25 million out of a $5-million commitment to earn an initial 51% interest by December 31, 2015. The giant’s Canadian subsidiary may earn 80% by spending $22.5 million by the end of 2021.

In early October Purepoint announced a winter drill campaign for the Hook Lake JV held 21% by Purepoint and 39.5% each by Cameco Corp TSX:CCO and AREVA Resources Canada.

Strong Q3 financials surprise Cameco shareholders

Despite historic low uranium prices, Cameco came out with Q3 earnings far beyond the same period last year. In his October 29 statement, president/CEO Tim Gitzel attributed the success to a contracting strategy “providing us with higher average realized prices that are well above the current uranium spot price.”

Uranium news from Saskatchewan and elsewhere for October 26 to November 1, 2013

Rabbit Lake was one of three Cameco operations that received
10-year licence renewals the same week that the company
surprised investors with an especially strong quarterly report.

Adjusted net earnings for three months ending September 30 came to $208 million, a 324% increase over Q3 2012 or, at 53 cents a share, a 342% increase. Year-to-date figures came to $295 million (up 48%) and 75 cents a share (up 47%).

Gitzel added that Cameco’s “starting to see some of the cost benefits of the restructuring we undertook earlier” and plans to “take advantage of the opportunity we see in the long term.”

However the company’s statement noted “there have been some deferrals of future projects due to uranium prices insufficient to support new production. The deferrals will not directly impact the near-term market, but could have an effect on the longer term outlook for the uranium industry. Complicating the supply outlook further is the possibility of some projects, primarily driven by sovereign interests, moving forward despite market conditions.”

The company forecast strong long-term fundamentals, mostly to China which has “reaffirmed its substantial growth targets out to 2020 and indicated plans to pursue further growth out to 2030. Their growth is palpable as construction on two more reactors began during the third quarter, bringing the total under construction to 30.”

As for Cameco’s long-delayed Cigar Lake mine, the company’s sticking to its current plan of Q1 2014 production and Q2 milling.

But while junior exploration flourishes, especially in the Athabasca Basin, the major plans a 15% to 20% cut in exploration spending this year.

Three Cameco operations get 10-year licence renewals

Licences for Cameco’s Key Lake, McArthur River and Rabbit Lake operations have been renewed for 10 years, the Canadian Nuclear Safety Commission announced October 29. The CNSC granted the extensions after three days of public meetings that heard from the company, 27 interveners and CNSC staff. The commission agreed to Cameco’s request for 10-year renewals, twice the previous term.

MillenMin finds radioactive outcrops on east Basin properties, reports AGM results

MillenMin Ventures TSXV:MVM completed initial field work at two eastside Basin properties, the 2,759-hectare Highrock Lake NE and 1,648-hectare Smalley Lake W. Work included prospecting, outcrop mapping and examination of previously found mineralization, the company announced October 28.

Grab samples from radioactive outcrops on both properties have been sent for assays. MillenMin first announced its foray into uranium last May and has staked 11 claims totalling about 18,983 hectares in and around the Basin.

On October 31 the company reported AGM results with directors re-elected, auditors re-appointed and other business approved.

Declan options northeastern Alberta property

Southwest of the Basin’s Alberta extremity, Declan Resources TSXV:LAN has optioned the 50,000-hectare Firebag River property. Previous geophysical survey data “shows a complex pattern of magnetic lows and highs, truncated or offset in the northern part of the property by the Marguerite River Fault,” Declan stated on October 29. Exploration in 1977 “confirmed the presence of a southwest-oriented fault zone and a geochemical anomaly with 11 ppm cobalt in lake sediments atop this structure,” the company added.

The deal would have Declan paying $85,000, issuing five million shares over two years and spending $3 million over three years. The optioner retains a 2% NSR on metals and a 4% gross overriding royalty on non-metallic commodities.

In September Declan announced an option to acquire the Patterson Lake Northeast property. The company plans to engage Dahrouge Geological Consulting to explore its uranium properties.

Rockgate takeover offer: Denison softens conditions, extends deadline

Denison Mines TSX:DML advanced its attempted takeover of Rockgate Capital TSX:RGT by lowering the minimum tender condition from 90% to two-thirds of outstanding shares. In an October 30 statement Denison also extended the offer’s deadline again, this time to November 18, and dropped conditions related to staff retention and consulting agreements.

The same day Rockgate said insiders agreed not to exercise their options unless another company comes up with a better offer. Denison had requested a cease trade order on 11 million Rockgate options granted on September 30, which Denison termed “improper defensive tactics.” The British Columbia Securities Commission didn’t agree. But rather than risk Denison withdrawing its offer, Rockgate insiders “put the interests of the shareholders of Rockgate before their own personal interests and agreed to amend the terms of the options,” company president/CEO Karl Kottmeier said.

The tone of the companies’ statements has warmed considerably since Kottmeier labelled Denison’s offer an “unsolicited opportunistic hostile takeover bid.” Denison president/CEO Ron Hochstein thanked Kottmeier and the Rockgate board “for their contributions to allowing the offer to proceed towards a successful conclusion.”

Meanwhile Rockgate continues prefeasibility work on its flagship Falea uranium-silver-copper project in Mali.

Read how Denison’s offer defeated Rockgate’s proposed merger with Mega Uranium.

Read more about uranium merger-and-acquisition activity.

Lakeland Resources’ JV partner New Dimension to drill for gold

Lakeland Resources TSXV:LK announced on October 31 an imminent drill campaign of at least 1,800 metres by JV partner New Dimension Resources TSXV:NDR on the Midas gold property in north-central Ontario. Lakeland optioned the project to New Dimension in September in order to focus on Saskatchewan uranium exploration. But Lakeland will retain a 30% interest in Midas carried to an initial 43-101 resource estimate.

I’m excited that the project’s going to continue to be worked while we focus on uranium.—Jonathan Armes, president/CEO
of Lakeland Resources

“New Dimension is a great group to work with and the deal was easy to do,” Lakeland president/CEO Jonathan Armes tells ResourceClips.com. “I’m excited that the project’s going to continue to be worked while we focus on uranium. The onus is on them to explore that project and we share in any benefits that result.”

The previous week Lakeland closed a private placement for a total of $1,057,718 and announced the appointment of Basin veteran John Gingerich to the company’s advisory board. Field work continues on Lakeland’s Riou Lake uranium project.

Read more about Lakeland Resources.

Next Page 1 | 2

Sub-Saharan substance

March 6th, 2013

True Gold and Roxgold go for gold in Burkina Faso

by Greg Klein

Next Page 1 | 2

Formerly trading as Riverstone Resources TSXV:RVS, True Gold Mining TSXV:TGM continues to push its Karma project in Burkina Faso towards a scheduled year-end feasibility. On March 6 the company released yet another set of assays, this time from large-diameter metallurgical core.

True intercept widths on two deposits were estimated between 50% and 90%. Highlights for the Goulagou I deposit include:

True Gold and Roxgold go for gold in Burkina Faso

Extensive drilling continues to probe Burkina’s promising geology.

  • 2.22 grams per tonne gold over 22 metres
  • 0.99 g/t over 24 metres
  • 1.18 g/t over 16 metres
  • 1.49 g/t over 12 metres
  • 0.89 g/t over 14 metres
  • 1.06 g/t over 10 metres.

The top-most interval began at a down-hole depth of 16 metres while the deepest stopped at 110 metres.

Highlights for the Goulagou II deposit include:

  • 3.75 g/t over 56 metres
  • 4.43 g/t over 24 metres
  • 2.53 g/t over 22 metres
  • 2.65 g/t over 14 metres
  • 1.99 g/t over 14 metres
  • 0.96 g/t over 28 metres
  • 1.61 g/t over 16 metres.

The top-most intercept started at 28 metres, with the deepest stopping at 132 metres down hole.

Apart from the assays, the 16-hole, 1,370-metre program will provide metallurgical samples to support Karma’s feasibility study. In an August preliminary economic assessment, True Gold considered the prospects for an open pit operation with heap leach processing. Using a 5% discount rate, the study projected a pre-tax net present value of $271 million and a 47% internal rate of return. After taxes, the NPV came to $192 million with a 37% IRR. Initial capital costs were estimated at $125 million with payback in two years, but contract mining might shrink the capex to $96 million. Production was forecast at 70,000 to 90,000 gold ounces a year over a 10-year lifespan.

A resource update followed in October. Totals for Karma’s five deposits showed:

  • an indicated category of 68.75 million tonnes averaging 1.02 g/t gold for 2.25 million gold ounces
  • an inferred category of 40.4 million tonnes averaging 0.86 g/t for 1.11 million ounces.

Next Page 1 | 2

B.C. to Burkina & beyond

October 1st, 2012

Bralorne, Avala, Riverstone and Oromin go for gold

by Greg Klein

Among the gold exploration news reported October 1, we look at a small producer in British Columbia, a 250-square-kilometre project in Serbia, an expanding Burkina Faso deposit and a Senegal resource update.

Bralorne Gold Mines TSXV:BPM reported short intervals but high grades from its project near Gold Bridge, B.C., 240 kilometres north of Vancouver. The 2,490-hectare Bralorne property of today includes the historic King, Bralorne and Pioneer mines, which produced 4.1 million gold ounces up to 1972. Current production began in April 2011, reaching about 7,642 ounces so far.

The October 1 assays come from the BK gap area between the former Bralorne and King mines. Some highlights include

  • 385.57 grams per tonne gold over 1.2 metres
  • 114 g/t over 0.3 metres
  • 63.6 g/t over 0.2 metres
  • 4.1 g/t over 1.3 metres
  • 6.88 g/t over 1 metre
  • 12.6 g/t over 0.4 metres

Intercepts are true widths. No topcut was applied to grades. The underground drilling reached depths extending to 166 metres.

Bralorne, Avala, Riverstone and Oromin go for gold

Oromin Explorations drills its joint venture gold project in eastern Senegal.

The first result given above comes from a quartz vein just west of underground development underway on the project’s BK-3 Zone. Last June the company reported 67 sample traverses over 160 metres taken from a drift at the zone’s 1,159-metre elevation. The assays showed an average grade of 68.7 g/t gold (uncut) over 0.8 metres (true thickness). With a topcut applied, the average grade came to 27.1 g/t over 0.8 metres.

The company’s share price opened September 28 at $0.70 before climbing to $0.79. On October 1 it closed a penny lower, at $0.78. Bralorne’s 52-week high and low were $1.19 and $0.68.

Bralorne IR Manager Johnathon Smith tells ResourceClips, “We have a new preliminary economic assessment coming out in about a week or a week and a half. Right now we’re producing about 100 tonnes a day and this new economic study is going to look at upgrading the operations to 250 tonnes per day. Being a micro-producer, we have quite a bit of blue sky ahead of us.”

From eastern Serbia, Avala Resources TSXV:AVZ announced drill results for the Kraku Pester area, part of the company’s Timok Gold Project. Assays include

  • 3.07 grams per tonne gold over 76 metres
  • 1.63 g/t over 137 metres
  • 1.8 g/t over 93 metres
  • 1.16 g/t over 128 metres
  • 1.41 g/t over 104 metres
  • 1.35 g/t over 105 metres
  • 1.46 g/t over 81 metres

Depths extend to 178 metres. True widths were not provided.

Along with the Kraku Pester target, the 250-square-kilometre Timok Project comprises the Bigar Hill and Korkan areas. Bigar Hill has a July 2012 inferred resource estimate of 38 million tonnes grading 1.3 g/t gold for 1.5 million ounces, using a 0.4 g/t cutoff. Resource drilling for Korkan and Kraku Pester has been completed and their initial resource calculations are underway.

Last February Avala President/CEO Jim Crombie told ResourceClips, “The infrastructure is terrific. We’re 25 kilometres outside of Bor, which is a major copper mining and smelting town. Power lines run adjacent to all of these properties, and there’s a road that runs alongside them. This is as good as it gets.”

The company states it has over eight years’ experience working in Serbia.

Avala held steady at $0.55 on September 28, opened October 1 at $0.56, then slipped back to $0.55. The share’s 52-week high and low were $1.25 and $0.52.

Riverstone Resources TSXV:RVS (Update: on February 25, 2013, Riverstone Resources Inc began trading as True Gold Mining Inc TSXV:TGM) announced more news from Burkina Faso on October 1, stating it found a new mineralized zone on the Kao Deposit of its Karma Gold Project. Some highlights from 71 reverse circulation holes include

  • 16 grams per tonne gold over 2 metres
  • 1.2 g/t over 26 metres
  • 0.5 g/t over 34 metres
  • 1.58 g/t over 10 metres
  • 1.15 g/t over 10 metres
  • 2.56 g/t over 4 metres

True widths were estimated between 90% and 100%. Depths extend to 206 metres.

Recent drilling has expanded the Kao Deposit by about 100 metres, the company stated. The deposit now extends over 1,500 metres in a northeast-southwest direction, at least 900 metres down-dip to the east and remains open in all directions.

Right now we’re producing about 100 tonnes a day and this new economic study is going to look at upgrading the operations to 250 tonnes per day. Being a micro-producer, we have quite a bit of blue sky ahead of us.—Johnathon Smith,
Bralorne IR Manager

In a statement issued with the results, Riverstone President/CEO Dwayne L. Melrose said, “There is very good potential to expand the mineralization to the north, as the gold-in-soil anomaly extends four kilometres further to the north. We expect to have these results reflected in the upcoming resource update, slated to be available for release this quarter.”

Riverstone’s share price opened September 28 at $0.64, rising to a $0.70 close that day. It opened and closed October 1 at $0.71. The share’s 52-week high hit $0.77 while the 52-week low fell to $0.30.

Among the resource estimates announced October 1, Oromin Explorations TSX:OLE reported a 49% increase in the indicated category for the Oromin Joint Venture Group Gold Project in eastern Senegal. The indicated total for all deposits comes to 75.21 million tonnes grading 1.56 g/t gold for 3.78 million gold ounces, while the inferred total shows 17.33 million tonnes grading 1.73 g/t for 963,000 ounces.

The company categorizes the deposits in three groups: Golouma, consisting of three large, high-grade deposits; Masato, the largest single deposit; and 10 widely distributed heap leach deposits. The Golouma and Masato deposits will form the basis of a carbon-in-leach feasibility study update while the heap leach deposits will form the basis for a heap leach PEA update. Both reports are scheduled for completion in Q4 2012.

Oromin holds a 43.5% interest in the JV and acts as project operator. Bendon International and Badr Investment and Finance hold 43.5% and 13% respectively. Oromin’s shares began and ended September 28 at $0.70 and $0.69, with an October 1 start and finish at $0.69 and $0.71. The company’s 52-week high and low were $1.20 and $0.435.

Burkina bulletins

September 18th, 2012

A steady stream of gold news flows from west Africa

By Greg Klein

Next Page 1 | 2

A poor country rich in gold. That contradiction might someday correct itself if mining can improve life for the people of Burkina Faso. Over the last six years several Canadian companies have explored its potential, among them Riverstone Resources TSXV:RVS. (Update: On February 25, 2013, Riverstone Resources Inc began trading as True Gold Mining Inc TSXV:TGM.) In what’s almost a weekly event, the company announced drill results September 17 from its Karma Gold Project.

Assay highlights from the Kao Deposit include

  • 9.5 grams per tonne gold over 12 metres
  • (including 33.6 g/t over 2 metres)
  • 2.02 g/t over 30 metres
  • (including 2.54 g/t over 18 metres)
  • 2.97 g/t over 14 metres
  • 13.45 g/t over 2 metres
  • 1.73 g/t over 12 metres
  • 3.21 g/t over 6 metres
  • 3.19 g/t over 4 metres
A steady stream of gold news flows from west Africa

Adversity notwithstanding, wide-ranging gold exploration
continues in Burkina Faso.

True widths are estimated between 90% and 100%. Depths extend to 260 metres, but most were less than 54 metres. The company states that its resource update, scheduled for release later this month, is expected to show an increase in more easily recoverable oxide resources.

Karma’s current estimate, issued last January, shows an indicated resource of 54.1 million tonnes grading 1.02 g/t gold for 1.77 million gold ounces and an inferred resource of 37.4 million tonnes grading 0.8 g/t for 959,000 ounces. Over 80% of the resource falls within five Whittle open pit shells. Over 85,000 metres of additional drilling will be incorporated into this month’s update.

On September 17 the company also filed the technical report for Karma’s PEA, which was announced last month. The study projects an initial capex of $125 million, which might be cut to $96 million through contract mining. The study also shows a pre-tax net present value of $271 million and a 47% internal rate of return, or an after-tax NPV of $192 million and a 37% IRR. Payback is estimated at two years.

The study examined three processing options, favouring a heap leach operation that would process three million tonnes of oxide and transition mineralization annually to produce 70,000 to 90,000 gold ounces a year over a 10-year life. Cash costs would come to $525 an ounce. Calculations are based on a gold price of $1,350 an ounce.

Next Page 1 | 2

Riverstone reports Burkina Faso Gold Results up to 31.8 g/t over 2m

September 10th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: On February 25, 2013, Riverstone Resources Inc began trading as True Gold Mining Inc TSXV:TGM.)

Riverstone Resources Inc TSXV:RVS announced drill results from the Kao Deposit of its Karma Gold Project in Burkina Faso. Highlights include

31.8 grams per tonne gold over 2 metres
2.39 g/t over 24 metres
2.22 g/t over 16 metres
(including 3.28 g/t over 8 metres)
0.85 g/t over 42 metres
(including 1.48 g/t over 6 metres)
2.1 g/t over 12 metres
2.02 g/t over 12 metres
1.84 g/t over 14 metres
1.68 g/t over 12 metres
2.42 g/t over 6 metres

Depths extend to 314 metres. True thicknesses are interpreted between 90% and 100%. Mineralization at Kao extends over 1,400 metres in a northeast-southwest direction and at least 900 metres down-dip to the east. The company states that these results confirm the continuation of higher-grade material along strike to the northwest and at depth, with the deposit remaining open to the north, south and down-dip to the east.

President/CEO Dwayne L. Melrose commented, “The extension drilling at Kao continues to return higher grades than the modelled average grade of the deposit. This is expected to have a positive effect on the upcoming resource estimate, which is on track for completion in late September. The updated resource model has the potential to increase the mine life or annual gold production that was identified in the recently released PEA results.”

View Company Profile

Contact:
Dwayne L. Melrose
President/CEO
604.801.5020

or Don Mosher
Corporate Development
604.685.6465

or Raju Wani
Investor Relations
403.240.0555

or Ron Cooper
Investor Relations
604.986.0112

by Greg Klein

Riverstone reports Burkina Faso Gold Assays: 2.92 g/t over 32m, 2.09 g/t over 32m

August 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRiverstone Resources Inc TSXV:RVS reported results from the Kao Deposit of its Karma Gold Project in Burkina Faso, West Africa. Highlights include

0.78 grams per tonne gold over 8 metres
0.88 g/t gold over 10 metres
1 g/t gold over 10 metres
0.78 g/t gold over 20 metres
2.09 g/t gold over 32 metres
0.97 g/t gold over 8 metres
1.84 g/t gold over 28 metres
1.66 g/t gold over 8 metres
1.19 g/t gold over 22 metres
(including 2.37 g/t gold over 8 metres)
2.92 g/t gold over 32 metres
0.72 g/t gold over 24 metres
1.12 g/t gold over 12 metres
3.11 g/t gold over 18 metres
1.73 g/t gold over 14 metres
0.89 g/t gold over 26 metres

President/COO Dwayne L Melrose commented, “We are most encouraged by these higher grade assays from drilling at Kao. These results are exciting because they confirm the continuity of the higher-grade near surface oxide material at Kao. We still have not found the limits of the overall Kao Deposit. We continue to expand Kao, and the results will be included in the upcoming resource estimate scheduled for September 2012. The preliminary economic assessment for the Karma Project that is currently being conducted is progressing on schedule and is expected to be released in August 2012.”

View Company Profile

Dwayne L Melrose
President/COO
604.801.5020

Don Mosher
Corporate Development
604.685.6465

by Kevin Michael Grace

Avion reports Burkina Faso Gold Assays up to 1.28 g/t over 132.5m, 1.82 g/t over 64.4m

August 8th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAvion Gold Corp TSX:AVR reported results from the Vindaloo zone of its Houndé Project, Burkina Faso. Highlights include

4.4 grams per tonne gold over 3 metres
3.51 g/t gold over 4.3 metres
1.32 g/t gold over 66.6 metres
1.82 g/t gold over 64.4 metres
1.69 g/t gold over 30.5 metres
4.23 g/t gold over 9.1 metres
1.66 g/t gold over 9.3 metres
1.1 g/t gold over 11 metres
4.14 g/t gold over 8 metres
3.04 g/t gold over 7 metres
1.28 g/t gold over 132.5 metres
13.95 g/t gold over 6.1 metres
0.85 g/t gold over 26.1 metres
0.88 g/t gold over 44 metres

Avion Senior VP Exploration Don Dudek commented, “Management believes that Avion has completed sufficient wide-spaced drilling along the Vindaloo gold-bearing system and have demonstrated good potential at several other zones, within trucking distance, to now focus on the completion of an updated mineral resource estimate followed by a Preliminary Economic Assessment. This is quite an achievement, since Avion acquired the project area less than two years ago and, at that time, it did not contain any quantified mineral resources.”

View Company Profile

Michael McAllister
Manager, Investor Relations
416.309.2134

Read a feature story about Avion Gold

by Kevin Michael Grace

Roxgold reports Burkina Faso Yaramoko Gold Resource: 354K oz ind, 306K oz inf

August 7th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRoxgold Inc TSXV:ROG announced the first resource estimate of the 55 Zone on its Yaramoko Concession in Burkina Faso as well as assays results from the 55 Zone. The estimate (at a 2 grams per tonne cutoff) shows an indicated resource of 617,000 tonnes grading 17.8 g/t gold for 354,000 ounces and an inferred resource of 1,244,000 tonnes grading 7.7 g/t gold for 306,000 ounces. Assay highlights include

28.69 g/t gold over 2 metres
18.73 g/t over 2.2 metres
14.44 g/t over 3.7 metres
6.93 g/t over 3.65 metres
(including 23.77 g/t over 0.8 metres)
6.57 g/t over 7 metres
5.38 g/t over 6.95 metres
(including 10.71 g/t over 2.4 metres)

President/CEO Robert Sibthorpe commented, “The receipt of this high grade gold resource estimate marks a turning point for Roxgold and validates the strong financial support provided by our shareholders over the past year.” Lead Director Allan Fabbro commented, “The Roxgold exploration team both in Canada and Burkina Faso deserve recognition, both for the discovery of the 55 Zone in early 2011 and the three subsequent efficient drill campaigns which delineated the resource received today. Their work will allow the Company to go forward now with a promising asset and a strong treasury.”

View Company Profile

Robert (Bob) Sibthorpe
President
604.638.0979

or Al Fabbro
Lead Director
604.351.8850

Read an interview with Lead Director Al Fabbro

by Kevin Michael Grace

Riverstone reports Burkina Faso Gold Assays up to 3.48 g/t over 12m

July 24th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRiverstone Resources Inc TSXV:RVS reported results from the Kao Deposit of its Karma Gold Project in Burkina Faso, West Africa. Highlights include

3.48 grams per tonne gold over 12 metres
2.79 g/t gold over 8 metres
2.16 g/t gold over 12 metres
2.94 g/t gold over 12 metres
2.50 g/t gold over 8 metres
2.52 g/t gold over 10 metres
2.90 g/t gold over 12 metres
11.46 g/t gold over 4 metres
2.56 g/t gold over 8 metres
1.45 g/t gold over 8 metres
2.54 g/t gold over 6 metres
1.38 g/t gold over 16 metres
1.76 g/t gold over 14 metres
1.57 g/t gold over 24 metres

President/COO Dwayne L Melrose commented, “We are very encouraged by these above average grade assays from drilling at Kao. We still have not found the limits of the Kao Deposit. We continue to expand Kao along strike and down dip, and the results will be included in the upcoming resource estimate scheduled for release in September 2012. The Preliminary Economic Assessment currently being conducted for the Karma Project is progressing on schedule.”

View Company Profile

Dwayne L Melrose
President/COO
604.801.5020

or Don Mosher
Corporate Development
604.685.6465

by Kevin Michael Grace