Friday 2nd December 2016

Resource Clips


Posts tagged ‘Evolving Gold Corp (EVG)’

Under the rainbows

February 5th, 2013

Columbus, Aquila/Hudbay and Evolving find gold in French Guiana, Michigan and Nevada

by Greg Klein

Next Page 1 | 2

To put some perspective on its Paul Isnard property in French Guiana, Columbus Gold TSXV:CGT likes to go back in time—roughly 225 million years. That’s before tectonic forces tore apart the planet’s one and only continent. The present-day Caribbean coast of South America was then joined to present-day northwestern Africa. Consequently there’s continuity, the company contends, between South America’s Guiana Shield and the Birimian Shield of gold-rich countries like Guinea, the Ivory Coast, Burkina Faso and Ghana. Thanks to that geology, Columbus has boosted its inferred resource by 184% to 5.37 million gold ounces.

As announced on February 5, the project’s Montagne d’Or resource update uses a low cutoff of 0.3 grams per tonne for a deposit starting at surface and reaching an average vertical depth of 247 metres. The company provided additional numbers for higher cutoff grades:

  • with a 0.3 g/t cutoff, 117.1 million tonnes averaging 1.43 g/t for 5.37 million ounces
  • with a 0.4 g/t cutoff, 111.2 million tonnes averaging 1.48 g/t for 5.3 million ounces
  • with a 0.5 g/t cutoff, 101.9 million tonnes averaging 1.58 g/t for 5.17 million ounces
  • with a 0.7 g/t cutoff, 81.7 million tonnes averaging 1.82 g/t for 4.78 million ounces
  • with a 1 g/t cutoff, 58.1 million tonnes averaging 2.22 g/t for 4.15 million ounces.
A rainbow seen from Evolving Gold’s Carlin project adds a storybook touch to geological exploration

A rainbow seen from Evolving Gold’s Carlin project
adds a storybook touch to mineral exploration.

The update uses a 16 g/t topcut as compared to the previous 1.89-million-ounce resource, which used a 30 g/t topcut and 0.4 g/t cutoff.

In a statement accompanying the announcement, Columbus chairman/CEO Robert Giustra said modelling “has also identified gaps within the deposit envelope where additional drilling has the potential to add ounces and where tighter drilling may upgrade some or all of the inferred resources to the indicated category. Additional expansion potential is also suggested by untested geochemical anomalies extending more than three kilometres along strike, by incompletely tested parallel zones of gold mineralization, and at depth.”

The 149-square-kilometre Paul Isnard project includes a 65-person camp with airstrip on a forest road connecting to a highway 115 kilometres from the port of St. Laurent.

Columbus shares opened February 5 at $0.355, seven cents above the previous close, and hit $0.425 before settling on a $0.365 close.

Another resource update, announced February 4, comes from Michigan’s Back Forty project, a 49/51 joint venture of Aquila Resources TSX:AQA and Hudbay Minerals TSX:HBM. The global resource shows:

  • measured and indicated resources of 987,236 gold ounces, 11.91 million silver ounces, 110.43 million copper pounds, 74.3 million lead pounds and 1.02 billion zinc pounds
  • an inferred resource of 155,885 gold ounces, 1.99 million silver ounces, 18.65 million copper pounds, 17.21 million lead pounds and 113.33 million zinc pounds.

The estimate provides separate numbers for open pit and underground resources. The open pit estimate shows:

  • measured and indicated resources of 640,663 gold ounces, 6.96 million silver ounces, 72.27 million copper pounds, 36.22 million lead pounds and 525.54 million zinc pounds.

The underground estimate shows:

  • measured and indicated resources of 346,572 gold ounces, 4.95 million silver ounces, 38.16 million copper pounds, 38.07 million lead pounds and 496.13 million zinc pounds

  • an inferred resource of 142,351 gold ounces, 1.82 million silver ounces, 18.02 million copper pounds, 15.9 million lead pounds and 103.7 million zinc pounds.

Next Page 1 | 2

Reaping the harvest

January 18th, 2013

Golden Predator to become royalties and streaming company Gold Bullion Royalty Corp

by Greg Klein

(Update: Effective February 22, 2013, Golden Predator Corp began trading as Americas Bullion Royalty Corp TSX:AMB.)

In a late afternoon announcement January 18, Golden Predator Corp TSX:GPD proposed a new name and strategy. Currently an advanced-stage exploration company moving towards production, Golden Predator plans to become Gold Bullion Royalty Corp, a company “focused entirely on royalty creation.”

The newly formed Golden Predator Canada Corp would continue advancing Yukon’s Brewery Creek towards its targeted 2014 gold production.

The proposed new company, Golden Predator Canada Corp,
would continue advancing Yukon’s Brewery Creek towards
its targeted 2014 gold production.

The company stated it “intends to build on its existing portfolio of 34 projects to increase revenue and provide lower risk exposure to shareholders through a variety of gold and silver projects in which it will retain a royalty, metal stream or other interest.

“The company plans to divest Golden Predator Canada Corp, which will continue to advance the Brewery Creek Project, as well as a number of other significant properties across the Yukon. This proposed segregation of its two main business components, by spin-out or other mechanism, is designed to maximize shareholder value by allowing the market to independently value two very different businesses.”

How that will happen has yet to be determined. Pending tax and legal advice, the process could involve “a plan of arrangement, dividend or other suitable method” which would have shareholders owning both companies, which would be staffed independently. Golden Predator Canada Corp would apply for a TSX or TSXV listing.

The Gold Bullion portfolio already includes gross proceeds royalties on Midway Gold’s TSXV:MDW Pan and Gold Rock deposits, a 4% GPR on Barrick Gold’s TSX:ABX DTR property, a 1% GPR on a nearby Barrick property and a 2% NSR on Silver Predator’s TSX:SPD Taylor Silver project.

The statement added, “The company controls a royalty package of 34 North America properties, most of which are owned by Gold Bullion Royalty Corp and under lease to a variety of companies including Evolving Gold [TSX:EVG], Orsa Ventures [TSXV:ORN], Columbus Gold [TSXV:CGT],” among others.

“The royalty portfolio also includes several deeded royalties covering projects of McEwen Mining [TSX:MUX], NV Gold [TSXV:NVX] and Silver Scott Mines [OTCPK:SILS].” While the royalty packages brought in $799,762 last year, the company expects royalty revenue to increase as its portfolio grows and projects advance.

The royalty portfolio is “unique in the mineral development industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash),” the statement added.

Golden Predator Corp’s stock opened January 18 at $0.345, a penny higher than its previous close. The shares then reached $0.35 before closing on $0.33. With 153 million shares outstanding, the company had a press time market cap of $50.49 million.

Evolving reports Nevada Gold Results of 0.93 g/t over 12.2m

February 24th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEvolving Gold Corp TSX:EVG announced assays from its Jake Creek Gold Property in Nevada. Highlights include

0.93 g/t gold over 12.2 metres
0.61 g/t over 16.7 metres
(including 3.1 g/t over 1.5 metres)
0.55 g/t over 7.6 metres
0.41 g/t over 12.2 metres

Chief Geologist Steve Koehler stated, “We are excited to have identified another large, blind gold system in Nevada, between the large Twin Creeks and Getchell deposits to the west, and the Midas district to the east. We have just begun to explore this exciting system. The strong alteration, multiple zones of epithermal, banded quartz and sooty pyrite veins, along with extensive gold mineralization is all very encouraging in a system which remains wide open for expansion. We believe the Jake Creek Gold Target has great potential and look forward to further drilling on this project.”

View Company Profile

Contact:
Rory Quinn
Investor Relations
604.630.0792
866.604.3864

by Greg Klein

Evolving, Agnico report Wyoming Gold Assays up to 1.84 g/t over 62.5m

January 24th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEvolving Gold Corp TSX:EVG in joint venture with Agnico-Eagle Mines Ltd TSX:AEM announced assays from the Rattlesnake Hills gold property in Wyoming. Results include

2.5 g/t gold over 7.6 metres
0.69 g/t over 102.1 metres (including 1.09 g/t over 22.9 metres)
1.84 g/t over 62.5 metres (including 6.08 g/t over 13.7 metres
1.13 g/t over 42.7 metres (including 21.5 g/t over 1.6 metres)
9.3 g/t over 3.1 metres

Agnico-Eagle can earn up to 70% of Rattlesnake Hills and is the project manager.

Evolving Gold CEO William Gee commented, “The 2011 exploration drilling program has continued to intersect new gold zones and expand on the known gold mineralization at the Rattlesnake Hills Project. We are particularly excited to demonstrate high-grade gold at South Stock, a new gold zone drilled for the first time in 2011. Surface work shows that South Stock represents a large new zone of essentially untested anomalous gold mineralization, close to the centre of this large gold system. South Stock, Northeast Stock, and several additional new drill targets generated by extensive surface sampling in 2011 will be a focus of our 2012 exploration program.”

View Company Profile

Contact:
Evolving Gold Corp
Rory Quinn
Investor Relations
604.630.0792

by Ted Niles

Evolving Gold reports Nevada Assays up to 1.28 g/t Gold over 60.4m

November 22nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningEvolving Gold Corp TSX:EVG announced results from the Arch Gold Zone of its Carlin gold project in Nevada. Assays include

1.1 g/t gold over 32.6 metres (including 1.7 g/t over 18.3 metres)
2.42 g/t over 6.1 metres (including 7.57 g/t over 1.5 metres)
1.28 g/t over 60.4 metres (including 2.03 g/t over 31.7 metres)

Chief Geologist Steven Koehler remarked, “The company recognizes it is exploring an extensive, powerful gold system in one of the world’s great gold camps. Our drilling has already intersected grades and thicknesses of mineralization that are characteristic of existing underground mines in the area. Early drilling results as a whole are consistent with the early stages of exploration at these mines. Defining the high-grade centre of this large gold system is the main focus of Evolving Gold’s exploration program on the Arch project.”

View Company Profile

Contact:
Rory Quinn
Investor Relations
604.630.0792

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.

Evolving reports Wyoming Gold Assays up to 1.94 g/t over 313m

January 12th, 2011

Evolving Gold Corp EVG:CA announced assays from its Rattlesnake Hills Project in central Wyoming. Highlights include 1.94 g/t gold over 313.3 metres (including 10 g/t over 21.3 metres), 0.92 g/t over 38.1 metres, 0.79 g/t over 143.3 metres (including 1.18 g/t over 68.6 metres), 0.6 g/t over 86.9 metres and 1.02 g/t over 109.7 metres (including 2.11 g/t over 39.6 metres).

President/Chief Geologist Quinton Hennigh stated, “It is very encouraging to see that the drill results continue to demonstrate this level of continuity of gold mineralization at North Stock. These final drill results provide an excellent finish to a successful 2010 drill program. Now that we have received the final assay results, we will start preparing initial resource estimates for the near surface portion of the gold mineralization at the Rattlesnake project.”

View Company Profile

Contact:
Graham Johnstone
Investor Relations
778.331.2023

Read More about Evolving Gold

Disclaimer: The principals of OnPage Media Corp are contractors to, and hold options in, Evolving Gold Corp.

by Ted Niles

Evolving reports Wyoming Gold Assays up to 1.72 g/t over 102.1m

January 6th, 2011

Evolving Gold Corp EVG:CA announced assay results from the Antelope Basin Zone of its Rattlesnake Hills Project in central Wyoming. Highlights include 0.74 g/t gold over 83.8 metres, 1.14 g/t over 32 metres, 1.72 g/t over 102.1 metres (including 7.06 g/t over 9.1 metres) and 0.95 g/t over 80.8 metres (including 1.34 g/t over 47.2 metres).

President/Chief Geologist Quinton Hennigh commented, “The new drill results include our highest assay to date from Antelope Basin. Hole RSC-153 intersected 1.5 meters at 25.6 g/t within a 9.1 meter interval grading 7.06 g/t. All of this lies within a remarkably consistent envelope of moderate grade gold mineralization. In addition to providing infill details, these results have expanded the gold zone and indicate it is open for further expansion.”

View Company Profile

Contact:
Graham Johnstone
Investor Relations
778.331.2023

Read More about Evolving Gold

The principals of OnPage Media Corp are contractors to, and hold options in, Evolving Gold Corp.

by Ted Niles