Friday 21st October 2016

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Posts tagged ‘egypt’

How fares Canada in the Fraser Institute’s global mining survey?

February 25th, 2015

by Greg Klein | February 25, 2015

Saskatchewan’s number two worldwide, Quebec’s back in the top 10 and Manitoba climbed 17 notches. But Alberta, Ontario and British Columbia took a beating in the latest Fraser Institute survey of mining jurisdictions. Released February 24, the study rates 122 jurisdictions (including provinces and states in Canada, the United States, Australia and Argentina) based on 485 returned questionnaires. Drawing on their 2014 experience, mining and exploration companies provided numerical ratings for a number of factors, which the institute tracked on separate indexes.

Most important is the Investment Attractiveness Index, which combines two other indexes—Best Practices Mineral Potential (geology) and Policy Perception (government attitudes). The institute weighs the IAI 60% for geology and 40% for public policy, roughly the same consideration companies reported for their investment decisions.

Here’s the top 10 IAI globally, with 2013 rankings in brackets:

1 Finland (4)
2 Saskatchewan (7)
3 Nevada (2)
4 Manitoba (13)
5 Western Australia (1)
6 Quebec (18)
7 Wyoming (11)
8 Newfoundland and Labrador (3)
9 Yukon (8)
10 Alaska (5)

Here are the Canadian runner-ups:

15 Northwest Territories (25)
21 New Brunswick (23)
22 Alberta (10)
23 Ontario (14)
28 British Columbia (16)
29 Nunavut (27)
42 Nova Scotia (47)

Prince Edward Island wasn’t included.

As for the bottom 10:

113 Sudan
114 Nigeria
115 Bulgaria
116 Guatemala
117 Egypt
118 Solomon Islands
119 Honduras
120 Kenya
121 Hungary
122 Malaysia

The 122 jurisdictions totalled 10 more than in 2013. For inclusion, the institute requires a minimum of 10 responses per jurisdiction.

The anonymous replies also included comments which, for Canadian provinces and territories, note serious but unsurprising concerns.

But for some people, the rankings rankled. B.C.’s 10th-place finish out of 12 Canadian jurisdictions doesn’t jibe with the province’s second-place status for mining investment, according to the Association for Mineral Exploration British Columbia. Citing data from Natural Resources Canada, AME BC credited Ontario as Canada’s favourite for attracting investment. Fraser Institute respondents stuck that province with ninth place in Canada.

“Furthermore, one of the best indicators of success in exploration is seeing discoveries move through to mine development,” said AME BC president/CEO Gavin Dirom. “In recent years, we have seen a number of new major metal mines constructed in our province, including Copper Mountain in 2011, New Afton in 2012 and Mount Milligan in 2013. Also, Red Chris is being readied for commercial operations, and the KSM and Kitsault mine development projects have received environmental assessment certificates.”

The NWT and Nunavut Chamber of Mines noted the Northwest Territories’ considerable improvement and its breakaway territory’s slight slump. The organization vowed to continue working with federal and territorial governments “to improve the investment climate for exploration and mining in the two territories.”

Download the Fraser Institute Survey of Mining Companies 2014.

Divers strike gold in ancient Mediterranean harbour

February 18th, 2015

by Greg Klein | February 18, 2015

Divers strike gold in ancient Mediterranean port

Now exposed to winter storms, the Roman port of Caesarea was once protected by a massive breakwater.
(Photo: Greg Klein)


At first they were mistaken for toys. But the coins turned out to be real, leading to the largest hoard of medieval gold currency ever found in Israel. That resulted from the accidental find of amateur divers in the ancient harbour of Caesarea, recently announced by the Israel Antiquities Authority. The treasure trove amounts to nearly 2,000 gold coins dating as far back as the ninth century.

The value wasn’t reported and probably would be considered priceless anyway. Admirably, the divers reported their discovery to the authority, which extended the search using a metal detector.

Kobi Sharvit, director of the authority’s Marine Archaeology Unit, said winter storms might have exposed the coins. The historic site, where St. Paul was held prior to his voyage to Rome, was once protected by a massive breakwater. Now it’s regularly pummelled by Mediterranean waves.

Divers strike gold in ancient Mediterranean port

Several coins show bite marks, “evidence they were ‘physically’ inspected by their owners or the merchants.”
(Photo: Israel Antiquities Authority)

The coins probably came from a shipwrecked boat carrying taxes to Egypt or possibly were meant to pay the salaries of the Fatimid garrison stationed in Caesarea, Sharvit said. “Another theory is that the treasure was money belonging to a large merchant ship that traded with the coastal cities … and sank there.” Archeologists hope to learn more through salvage excavations.

The authority described the oldest coin as a ninth century quarter dinar minted in Sicily. “Most of the coins, though, belong to the Fatimid caliphs Al-Ḥakim (996 to 1021) and his son Al-Ẓahir (1021 to 1036), and were minted in Egypt and North Africa,” the authority stated.

“The coins are in an excellent state of preservation and, despite the fact they were at the bottom of the sea for about a thousand years, they did not require any cleaning or conservation intervention from the metallurgical laboratory,” explained numismatist Robert Cole. “This is because gold is a noble metal and is not affected by air or water.

“Several of the coins that were found in the assemblage were bent and exhibit teeth and bite marks, evidence they were ‘physically’ inspected by their owners or the merchants,” he added. “Other coins bear signs of wear and abrasion from use while others seem as though they were just minted.”

Alexander Nubia reports Egypt Gold Assays including 1.52 g/t over 118m

March 26th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlexander Nubia International Inc TSXV:AAN announced trench results from Hamama VMS project in Egypt. Assays include

0.84 g/t gold and 10.1 g/t silver over 114 metres
0.98 g/t gold and 22.3 g/t silver over 50 metres
(including 1.16 g/t gold and 23.2 g/t silver over 34 metres)
1.73 g/t gold and 39.2 g/t silver over 82 metres
(including 2.35 g/t gold and 48.1 g/t silver over 50 metres)
1.82 g/t gold and 31.5 g/t silver over 88 metres
1.52 g/t gold and 12.1 g/t silver over 118 metres
(including 4.59 g/t gold and 12.4 g/t silver over 24 metres)
2.88 g/t gold and 34.6 g/t silver over 60 metres
1.74 g/t gold and 15.9 g/t silver over 40 metres
(including 3.01 g/t gold and 17.7 g/t silver over 20 metres)
1.32 g/t gold and 42.3 g/t silver over 22 metres
1.23 g/t gold and 21.2 g/t silver over 24 metres

CEO Alexander Massoud commented, “We are very pleased by this new discovery. The Nubian shield is well known for VMS-style mineralization, with three significant VMS deposits either in production or at the advanced exploration stage. These are La Mancha’s Hassai deposit (Sudan), Nevsun’s Bisha deposit (Eritrea), and Tigray’s Harvest deposit (Ethiopia), all of which are similar to Hamama. We have identified multiple targets from our trenching program at Hamama, which we will drill aggressively in the coming months. Combined with our maiden NI 43-101-compliant inferred resource for Abu Marawat, released in March, we have the most advanced exploration property in Egypt.”

View Company Profile

Donald M. Cameron

by Ted Niles

Alexander Nubia reports Egypt Assays of 10.8 g/t gold, 185 g/t silver over 11.6m

December 2nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAlexander Nubia International Inc TSXV:AAN announced drill results from its Abu Marawat property in Egypt. Highlights include

9.2 g/t gold and 395 g/t silver over 7 metres
(including 63.9 g/t gold and 2,750 g/t silver over 1 metre)
2.76 g/t gold and 36 g/t silver over 3.4 metres
10.81 g/t gold, 185 g/t silver, 0.86% copper and 4.64% zinc over 11.6 metres
(including 27.24 g/t gold, 460 g/t silver, 1.87% copper and 11.21% zinc over 4 metres)

President/CEO Alexander Massoud stated, “We are excited about the recent excellent results received which will contribute significantly to the finalized NI 43-101-compliant resource statement. Some of the recent drilling in the southern portion of the deposit has outlined areas of wider than expected vein structures with increased grade especially at depth.”

View Company Profile

A. Alexander Massoud

or Donald M. Cameron

by Ted Niles

Alexander Nubia reports Egypt Assays of 2.1 g/t Gold, 46.3 g/t Silver over 12.9m

April 11th, 2011

Alexander Nubia International Inc TSXV:AAN announced drill results from the CVZ vein zone of its Abu Marawat Property in Egypt. Assays include 2.1 g/t gold, 46.3 g/t silver and 1.43% copper over 12.9 metres (including 4.81 g/t gold, 114 g/t silver and 2.65% copper over 4.8 metres) and 1.9 g/t gold, 38.7 g/t silver and 2.15% copper over 6 metres (including 2.79 g/t gold, 53 g/t silver and 2.74% copper over 4 metres).

CEO Alexander Massoud commented, “The results of current drilling indicate that the CVZ is significantly more extensive than previously defined. It remains open along strike and down-dip. Developing a 43-101 compliant resource is our primary objective. However, the potential for adding to its size also plays a large part in this.”

View Company Profile

A. Alexander Massoud

by Ted Niles

Alexander Nubia reports Egypt Gold Assays up to 4.01 g/t over 23m

March 9th, 2011

Alexander Nubia International Inc TSXV:AAN announced results from its Abu Marawat Property in the Abu Marawat Concession of the Eastern Desert, Egypt. Assays include 1.39 g/t gold and 25 g/t silver over 5 metres, 2.04 g/t gold and 38 g/t silver over 6 metres, 2.5 g/t gold and 64 g/t silver over 17 metres, 4.01 g/t gold and 70 g/t silver over 23 metres (including 12.06 g/t gold and 202 g/t silver over 6 metres) and 4.54 g/t gold and 66 g/t silver over 11 metres (including 12.18 g/t gold and 165 g/t silver over 2 metres).

CEO Alexander Massoud commented, “Overall, we are very pleased with the first set of results. They serve to validate the technical interpretations we developed in 2009 and 2010 and establish the basis to upgrading the 131,000 ounce gold historical resource to a substantially larger NI 43-101 compliant resource. Further supporting our geological model for continuity of the vein structure both along strike and at depth. Equally encouraging are the visual estimates of sulphides AAM-009 which is the first hole to test the broad 1200 metre by 300 metre chargeability anomaly to the east of the CVZ.”

View Company Profile

A. Alexander Massoud

or Donald M. Cameron

by Ted Niles