Tuesday 6th December 2016

Resource Clips


Posts tagged ‘Confederation Minerals Ltd (CFM)’

Confederation Minerals president/director Brian Bapty on the Newman Todd option in Ontario’s Red Lake camp

April 22nd, 2013

…Read More

Red Lake reports

April 8th, 2013

Confederation/Redstar and Rubicon work towards Ontario gold PEAs

by Greg Klein

Next Page 1 | 2

Should Newman Todd begin with a small starter pit or go directly underground? That’s the question Confederation Minerals TSXV:CFM will address with its just-commissioned preliminary economic assessment, to be released later this year. On April 8 the company announced another batch of assays from its winter drill campaign in northwestern Ontario’s Red Lake Greenstone Belt. Some highlights include:

  • 1.92 grams per tonne gold over 36 metres, starting at 103 metres
  • (including 7.56 g/t over 1 metre)
  • 1.3 g/t over 38 metres, starting at 75 metres
  • (including 9.1 g/t over 1 metre)
  • 2.62 g/t over 19 metres, starting at 202 metres
  • (including 10.9 g/t over 1 metre)
  • 63.1 g/t over 0.5 metres, starting at 297 metres
  • 1.21 g/t over 22 metres, starting at 297 metres
  • (including 8.66 g/t over 1 metre)
  • 1.82 g/t over 16 metres, starting at 53 metres
  • (including 2.54 g/t over 9 metres).
Confederation/Redstar and Rubicon work towards Ontario gold PEAs

Mineralization closer to surface distinguishes
Newman Todd from other Red Lake projects.

The down-hole depths provided don’t reflect vertical depths. Intercept true widths weren’t available. No topcut was applied to assays.

Confederation describes the Newman Todd structural/alteration system as approximately 200 metres in width, with significant intercepts to depths of 850 metres from surface. Most of the April 8 assays came from drilling “within a relatively restricted area” about 200 metres along the zone’s strike length and at least 50 metres on sections perpendicular to strike, the company added. The maiden resource and PEA will focus on the project’s Hinge zone.

“One of the things with Red Lake and this type of geology is that it tends towards more vertically oriented systems,” Confederation president/director Brian Bapty tells ResourceClips. “But we have a very, very long strike length of 1.8 kilometres with good grades near surface. So if you look at other people drilling at Red Lake, they tend to be drilling quite deep. We can find near-surface ounces, which are cheaper to drill, but they don’t speak to the size of the opportunity.”

With size, however, comes challenges. “One of the problems of having a strike length of 1.8 kilometres by at least a kilometre deep is that it would take us years and cost millions to drill the entire thing out. So we want to focus our business plan on the most economic ounces, on what’s the best way forward—a starter pit or direct to underground. Answering those questions early is important to us.”

More assays are pending and drilling continues. Winter allows work on a frozen lake and marsh, Bapty points out. “After break-up we can move back onto solid ground.”

Confederation funds and operates the project under option with Redstar Gold TSXV:RGC. With its initial $5-million work requirement already complete, Confederation can achieve a 50% interest by paying Redstar $75,000 and 150,000 Confed shares. The PEA, along with another 500,000 shares, would boost Confederation’s portion to 70%.

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Confederation, Red Star report Ontario Gold Assays including 5.94 g/t over 27m

January 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningConfederation Minerals Ltd TSXV:CFM and Redstar Gold Corp TSXV:RGC announced assays from the Newman Todd property in the Red Lake Gold District, Ontario. Results include

60.6 g/t gold over 1 metre
21.6 g/t gold over 1.5 metres
1.34 g/t over 46 metres
1.56 g/t over 38 metres
3.83 g/t over 11 metres
3.41 g/t over 27.5 metres (including 145 g/t over 0.5 metres)
5.94 g/t over 27 metres (including 139 g/t over 1 metre)
7.11 g/t over 13 metres (including 114 g/t over 0.5 metres)

Confederation President/CEO Lawrence Dick commented, “These latest eight holes have returned some of the best gold intercepts from our outstandingly successful drill program which began approximately one year ago. All of the holes reported in this press release have been drilled along a corridor within a portion of the Newman Todd alteration-structural zone measuring approximately 800 metres long between the Hinge and Heath Bull Zones. Results to date show that high-grade gold zones are often associated with much wider zones of lower-grade mineralization. The data are showing us that often multiple shoots of high-grade gold occur within 30- to 40-metre-wide zones of 1-2 g/t gold material. We are now observing several areas with wide zones of lower-grade gold and in each case there are multiple, high-grade intercepts within them. Drilling has been very successful in identifying the gold-bearing structure and intersecting high-grade gold mineralization. The drill hole hit/miss ratio (ie. the number of holes drilled relative to the number of holes which intersected gold values) is 100 percent, which indicates an extremely high gold provenance for the NTS and bodes very positively for the future of the project.”

Confederation can earn a 50% interest in the project by spending $5 million in exploration by November 2013, and an additional 20% by producing a preliminary economic assessment by November 2016. During the earn-in period, Confederation is the operator of the project.

View Company Profile

Contact:
Confederation Minerals Ltd
Lawrence Dick
President/CEO
604.688.9588

or Redstar Gold Corp
Tim Mikula
Business Development
604.488.0051

by Ted Niles

Confederation, Red Star report Ontario Gold Assays as high as 2.17 g/t over 47m

January 12th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningConfederation Minerals Ltd TSXV:CFM and Redstar Gold Corp TSXV:RGC announced results from the Newman Todd property located in the Red Lake Gold District, Ontario. Assays include

15.58 g/t gold over 2 metres (including 29.8 g/t over 1 metre)
1.04 g/t over 59 metres (including 39.5 g/t over 0.5 metres)
3.27 g/t over 15 metres (including 36.15 g/t over 1 metre)
2.17 g/t over 47 metres (including 56.8 g/t over 1 metre)
1.52 g/t over 42 metres (including 17.1 g/t over 1 metre)

Confederation CEO Lawrence Dick stated, “We are extremely pleased with results from the 2011 drill program. Although in early stages of drilling, the data to date have shown an incredible continuity of the gold mineralizing system along the entire drilled area. With the recent discovery of high-grade mineralization at surface and the depth of the current drilling, we are confident that the depth extent of the NTS far exceeds 1 kilometre and may continue up to several kilometres in depth, in keeping with the characteristics of other major mesothermal gold deposits in the Canadian Archaean.”

Confederation can earn a 50% interest in the project by spending $5 million in exploration by November 2013, and an additional 20% by producing a preliminary economic assessment by November 2016. During the earn-in period, Confederation is the operator of the project.

View Company Profile

Contact:
Confederation Minerals Ltd
Lawrence Dick
President/CEO
604.688.9588

or Redstar Gold Corp
Tim Mikula
Business Development
604.488.0051

by Ted Niles

Confederation, Redstar report Ontario Gold Results of 5.75 g/t over 11.3m

November 22nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningConfederation Minerals Ltd TSXV:CFM in joint venture with Redstar Gold Corp TSXV:RGC announced assays from their Newman Todd Property in the Red Lake Gold District of Ontario. Highlights include

5.75 g/t gold over 11.3 metres
(including 97.8 g/t over 0.5 metres)
1.11 g/t over 58 metres
(including 7.24 g/t over 1 metre)
0.97 g/t over 49 metres
(including 11.6 g/t over 1 metre)
28.8 g/t over 1 metre
3.01 g/t over 6.5 metres
(including 16.4 g/t over 1 metre)
15.9 g/t over 1 metre

Confederation can earn a 50% interest in the project by spending $5 million on exploration by November 2013. The company can earn an additional 20% by producing a preliminary economic assessment by November 2016. Confederation acts as project operator.

View Company Profile

Contact:
Confederation Minerals Ltd
Lawrence Dick
President
604.688.9588

Redstar Gold Corp
Tim Mikula
Business Development
604.488.0051

Read feature story on Confederation Minerals Ltd.

by Greg Klein

Confederation, Redstar report Ontario Gold Results of 343 g/t over 0.6m

November 2nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningConfederation Minerals Ltd TSXV:CFM in joint venture with Redstar Gold Corp TSXV:RGC announced assays from their Newman Todd Property in the Red Lake Gold District of Ontario. Highlights include

343 g/t gold over 0.6 metres
2.49 g/t over 15 metres
(including 4.06 g/t over 7.5 metres)
1.35 g/t over 25 metres
(including 5.91 g/t over 2 metres)
1.18 g/t over 32 metres
(including 10.91 g/t over 1 metre)
1.66 g/t over 20 metres
(including 7.16 g/t over 1 metre)
1.18 g/t over 21 metres
(including 3.51 g/t over 5 metres)

Confederation can earn a 50% interest in the project by spending $5 million on exploration by November 2013. The company can earn an additional 20% by producing a preliminary economic assessment by November 2016. Confederation acts as project operator.

View Company Profile

Contact:
Confederation Minerals Ltd
Lawrence Dick
President
604.688.9588

Redstar Gold Corp
Tim Mikula
Business Development
604.488.0051

Read more about Confederation Minerals Ltd.

by Greg Klein

Redstar, Confederation report Ontario Gold Assays as high as 5.23 g/t over 22m

October 19th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningRedstar Gold Corp TSXV:RGC in joint venture with Confederation Minerals Ltd TSXV:CFM announced assay results from the Newman Todd property in the Red Lake Gold District, Ontario. Highlights include

1 g/t gold over 12 metres
1.29 g/t over 22 metres
6.07 g/t over 1 metre
1.6 g/t over 8 metres
7.16 g/t over 2 metres (including 10.8 g/t over 1 metre)
5.23 g/t over 22 metres (including 20.15 g/t over 2 metres)
8.34 g/t over 7 metres (including 18.17 g/t over 3 metres)
1.69 g/t over 7 metres
6.08 g/t over 1 metre

Confederation can earn a 50% interest in the property by spending $5 million by November 2013, during which period it is the project operator. Confederation President/CEO Lawrence Dick said, “We continue to be impressed by the results from the ongoing drill program at Newman Todd. The latest results continue to highlight the potential of this new high-grade gold discovery in the Red Lake camp. Drilling within the Hinge Zone area has now returned some of the widest intercepts of high grade gold mineralization on the property. While gold mineralization is being intersected across the entire strike of the NTS, the Hinge Zone area is quickly becoming a priority target – eight of the nine holes completed in the area returned gold values greater than 10 g/t including 9 intercepts of greater than 20g/t gold and 4 intercepts greater than 30 g/t gold. The aggressive drill program in 2011 is adding significantly to our understanding of the nature and continuity of the gold mineralization at Newman Todd. With two drills currently still active on the project and results still pending for 23 holes, management expects significant news flow from Newman Todd for the remainder of 2011.”

View Company Profile

Contact:
Confederation Minerals Ltd
Lawrence Dick
President/CEO
604.688.9588

or Redstar Gold Corp
Tim Mikula
Investor Relations
604.488.0051

by Ted Niles

Small Cap, Big Plans

September 20th, 2011

Otterburn drills Palladium-Platinum in Finland

By Greg Klein

(UPDATE: Effective Sept. 26, 2011, Otterburn Ventures Inc will change its name to Finore Mining Inc. The company’s CNSX trading symbol will change from OTB to FIN.)

Nano-caps—companies with market caps often well below $75 million—”have the greatest potential for outsize performance,” according to Paul Zweng, a Portfolio Manager with Resource Venture Advisors. “You can literally generate 10-times returns with these tiny companies.” Needless to say, there is risk. “That is why you really need to understand the geology, the prospectivity and the management team,” he emphasizes. “Are these people who can husband their money and their resources carefully?”

Following Zweng’s advice, these would be the criteria to evaluate Otterburn Ventures’ recently optioned Läntinen Koillismaa Project (LK) in Finland. A palladium-platinum property with gold, copper and nickel, it’s further advanced than the projects Zweng referred to, despite Otterburn’s nano $14-million cap. LK already has a resource estimate, an experienced drill team, a highly regarded management team and, Otterburn President Steven Green says, plenty of blue-sky potential.

Otterburn drills Palladium-Platinum in Finland

Value for money was what brought Otterburn to Finland and LK. The company pulled out of a venture in Tanzania when drill results turned spotty. “We decided we’d better preserve our cash and look at properties elsewhere,” Green explains. “Shortly thereafter, the opportunity in Finland came up. After the Tanzanian experience, we really wanted to see the stability of the country and the stability of the mining environment. Then on top of that you’re looking for all the usual things related to a potential property—that it’s underfunded but doesn’t have any serious flaws, that politically and environmentally it looks like it has growable mineralization. That’s what attracted us to LK. I went over in mid-July, and what I found were four interesting properties. A good, small, knowledgeable staff was on site; they knew what they wanted to do and why they wanted to do it. It looks like there’s a lot of potential along strike and at depth. It has power, a lot of infrastructure. This is a country that is quite interested in mining. In fact, the local community could actually get involved in funding. There’s a nearby vanadium mine that they’re opening, and the community is actually investing in it. We thought we had a much more attractive place to do business.”

A February 2011 resource by Nortec Minerals estimates 60,332 ounces palladium, 19,492 ounces platinum, 6,497 ounces gold, 4,908 tonnes copper and 3,464 tonnes nickel indicated and 378,263 ounces palladium, 133,007 ounces platinum, 91,279 ounces gold, 63,153 tonnes copper and 40,534 tonnes nickel inferred. The estimate covers just two of LK’s four properties and suggests potential large-tonnage, open-pit mining.

A JV with Nortec came through last August, granting Otterburn the option to acquire up to an 80% interest in LK. The agreement has Otterburn earning the initial 49% by paying Nortec $4.5 million, issuing Nortec $2 million in shares and spending $5 million on the project. As for the additional 31%, Otterburn must pay Nortec $3 million, issue Nortec $1 million in shares and spend $5 million. Otterburn must also issue 400,000 common shares to Nortec and 1.85 million common shares to a third party as a finder’s fee.

Green says that even without the extra financing that Otterburn is now working on, the company has enough cash on hand for up to a year of drilling. The next program starts in November, despite LK’s location 65 kilometres south of the Arctic Circle.

“There are sections in all four properties which are on hard ground; they can be drilled any time of the year,” Green says. “There’s an all-weather highway right in the middle of it, power lines right through the middle of it and a rail head about 40 kilometres south. A two-hour drive along the highway takes you to the city of Oulu, which has the main airport and a seaport leading to the Baltic.”

It looks like we could turn this into a potential operating deposit which would give us revenue. We’re in a stable environment; we’ve got room to grow; and we’ve got a good team in place —Steven Green

Green explains that, apart from drilling, geophysics normally constitute the largest exploration expense, and this is an expense Otterburn won’t face for some time, thanks to the advance work done by Nortec.

As it explores the property further, Otterburn intends to apply for a listing on a more senior stock exchange.

Returning to Zweng’s criteria for a successful nano-cap—”the geology, the prospectivity and the management team”—it’s time to ask whether the company is led by “people who can husband their money and their resources carefully.”

A geologist with over 25 years’ experience, Green has worked for Freeport McMoRan, Noranda, Santa Fe Pacific Gold and Cambior. Most recently, he took charge of geological data for Fronteer’s US operations. With experience in Alaska and northern Canada, he’s undaunted by Finland’s Arctic.

CEO/Director Peter Hughes is co-founder of Pirie Hughes Consulting and has over 25 years of management experience in pharmaceuticals, alternative energy and mineral exploration.

Director David Eaton also acts as CEO/Executive Director of Jayden Resources and Managing Director of the Baron Group, a few highlights of his more than 20 years experience building junior resource companies.

Geological Adviser Lawrence Dick is noted for a number of significant discoveries and holds or has held senior positions with companies including Jayden Resources, Sprott Resource, Golden Fame Resources, Evolving Gold, Timmins Gold and Confederation Minerals.

As if he’s directly addressing Zweng’s criteria, Green sums up the LK Project this way: “We have an interesting platinum-palladium property with gold, copper and nickel. It looks like we could turn this into a potential operating deposit which would give us revenue. We’re in a stable environment; we’ve got room to grow; and we’ve got a good team in place.”

At press time Otterburn had $3.5 million in cash and 38.4 million shares at $0.34 for a $13.1 million market cap.

Disclaimer: Otterburn Ventures Inc is a client of OnPage Media.

Disclaimer: Jayden Resources Inc is a client of OnPage Media.

Confederation, Redstar report Ontario Gold Assays up to 242 g/t over 0.5m

September 12th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningConfederation Minerals Ltd TSXV:CFM in joint venture with Redstar Gold Corp TSXV:RGC announced results from their Newman Todd Property in the Red Lake Gold District of Ontario. Highlights include 242 g/t gold over 0.5 metres, 69.7 g/t over 0.5 metres, 1.13 g/t over 28 metres (including 5.2 g/t over 1.5 metres), 31.1 g/t over 1 metre, 24.1 g/t over 1 metre and 12.86 g/t over 1 metre (including 24.5 g/t over 0.5 metres).

Confederation can earn a 50% interest in the project by spending $5 million in exploration by November 2013. The company can earn an additional 20% by producing a preliminary economic assessment by November 2016.

View Company Profile

Contact:
Confederation Minerals Ltd
Lawrence Dick
President
604.688.9588

Redstar Gold Corp
Tim Mikula
Investor Relations
604.488.0051

by Greg Klein

Confederation, Redstar report Ontario Gold Assays up to 25.55 g/t over 2m

April 5th, 2011

Confederation Minerals Ltd TSXV:CFM in joint venture with Redstar Gold Corp TSXV:RGC announced assay results from the Newman Todd Property in the Red Lake Gold District in northern Ontario. Highlights include 15.48 g/t gold over 3.5 metres (including 25.55 g/t over 2 metres), 3.6 g/t over 2 metres, 5.21 g/t over 1 metre, 4.83 g/t over 1 metre, 11.65 g/t over 1 metre, 7.12 g/t over 1 metre, 7.33 g/t over 1 metre and 3.61 g/t over 1 metre. Confederation has an option to acquire up to 70% of Newman Todd and is the project operator.

Confederation President/Director Lawrence Dick remarked, “The results of our winter, 2011 drilling program, which has built on the historical drilling success of Redstar Gold Corp, has far succeeded our expectations. Besides returning amongst the highest grade gold results from the Heath Bull Zone, results continue to indicate that the entire NTS is gold-bearing. Each of the additional gold-bearing zones drilled along the structure demonstrate the potential to host steeply-dipping, high grade gold zones at shallow depths, and remain wide open both to depth and along strike. Historic and present drilling on the property now totals 30 holes, all of which have intersected gold mineralization along the NTZ. The four gold-bearing zones defined by this drilling are all open to depth and along strike. Thus, results to date have significantly enhanced the potential of the project.”

View Company Profile

Contact:
Lawrence Dick
President
604.688.9588

by Ted Niles