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Posts tagged ‘idaho’

Atlanta reports Idaho Gold Assays up to 1.9 g/t over 45.7m

January 25th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAtlanta Gold Inc TSXV:ATG announced drill results from the Atlanta Shear zone of its Atlanta gold property in Idaho. Highlights include

2.84 g/t gold over 17.3 metres
4.07 g/t over 5.2 metres
1.26 g/t over 5.1 metres
2.19 g/t over 3.7 metres
1.9 g/t over 26.2 metres
4.69 g/t over 8.6 metres
2.38 g/t over 5.4 metres
2.1 g/t over 15.1 metres
1.71 g/t over 8.8 metres
3.34 g/t over 14.7 metres
1.39 g/t over 17.6 metres

VP/COO Ernest Simmons commented, “We have now established continuity along the entire length of the 3,475-metre Atlanta Shear Zone, which we believe will be mineable as one continuous open pit. In addition, the deepest hole indicates that the Shear continues to be mineralized to depths of almost 900 metres, further opening up the potential for outlining bulk-mineable zones below the open-pit horizon.”

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Contact:
Bill Baird
VP and CFO
416.777.0013

by Ted Niles

Terraco reports Idaho Gold Assays up to 0.78 g/t over 54.9m

January 18th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningTerraco Gold Corp TSXV:TEN announced drill results from its Almaden project in Washington County, Idaho. Highlights include

0.78 g/t gold over 54.9 metres (including 1.07 g/t over 21.3 metres)
0.94 g/t over 22.9 metres (including 1.59 g/t over 7.6 metres)
0.79 g/t over 33.5 metres (including 1.16 g/t over 7.6 metres)
0.8 g/t over 35.1 metres (including 1.25 g/t over 1.5 metres)

President/CEO Todd Hilditch remarked, “These results and the previously announced results at Almaden are very encouraging. Terraco is on the right track in growing the gold resource and has shown in several holes an improvement in grade thickness of up to 28% compared to nearby historic drilling. Terraco is currently planning its 2012 exploration program and is excited to move the Almaden project forward.”

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Contact:
Todd Hilditch
President/CEO
604.443.3831

by Ted Niles

Third Time’s The Charm

January 11th, 2012

Otis Plans a New, January Kilgore Gold Estimate

By Ted Niles

Craig Lindsay couldn’t be happier with Otis Gold’s TSXV:OOO Kilgore project. But the good news has remained in-house. “We’ve been delayed in getting our resource estimate out,” the President and CEO says. Otis missed its July 2011 deadline, then its end-of-3Q 2011 deadline. “That’s had a bit of depressing effect on the stock,” he admits. But the third time’s the charm, as they say. Lindsay is confident an updated January Kilgour resource will lead to an improvement in Otis’ valuation relative to its Idaho peers.

“We’re trading at $15 an ounce, and [they're] trading at $60 an ounce,” Lindsay notes. “Our peers in Nevada are trading at $100 to $125 dollars an ounce in the ground on an adjusted market-cap basis. We’re very much undervalued, and I think one of the triggers to move us up to the next level is a new resource.”

Otis Plans a New, January Kilgore Gold Estimate

Located in southeast Idaho’s Clark County, the Kilgore gold project comprises 162 federal mining claims totalling 1,315 hectares. Kilgore’s Mine Ridge and Dog Bone deposits currently have NI 43-101 resources of 218,000 ounces gold indicated and 269,000 ounces inferred. Kilgore’s previous owners include Placer Dome and Pegasus Gold, and it was developed by Echo Bay Mines (now a subsidiary of Kinross Gold TSX:K) between 1993 and 1996. While Echo Bay eventually abandoned Kilgore due to the then-low gold price, an internal engineering study estimated that the property had potential resources upwards of two million ounces. Testing by Echo Bay and Otis also suggests that the largely-oxide hosted deposit has particularly good metallurgy, with recovery rates running as high as 94%.

Between 2008—the year it acquired the project—and 2010, Otis drilled roughly 10,400 metres focusing mainly on the Mine Ridge deposit. In 2011, the company undertook a 9,320-metre drill program. Mine Ridge assays released December 9, 2011, include

  • 1.05 grams per tonne gold over 48.8 metres
  • 1.39 g/t over 15.2 metres
  • 1.17 g/t over 10.7 metres
  • 0.77 g/t over 21.3 metres
  • 0.68 g/t over 30.5 metres
  • 0.7 g/t over 39.6 metres

October 6, 2011, assays include

    0.89 g/t over 118.8 metres (including 1.01 g/t over 97.5 metres)
  • 0.89 g/t over 114.3 metres (including 1.1 g/t over 80.8 metres)
  • 0.7 g/t over 50.3 metres (including 1.13 g/t over 18.3 metres)
  • 0.88 g/t over 35 metres (including 1.03 g/t over 16.7 metres)

Lindsay comments, “We’re extremely pleased with the results from the Mine Ridge deposit. The results we issued [December 9] demonstrate the continuity of the deposit, that it continues to grow, and the fact that it’s open in every direction.”

With no debt and $1.5 million cash on hand, Otis plans a 10,000-metre drill campaign for 2012. Permitting is also a priority, and Lindsay hopes to begin environmental baseline studies. A preliminary economic assessment is intended, but a date for that has yet to be set.

It clearly is a production-type story. It has excellent metallurgy; it’s got a good solid grade; it’s very near surface and is very amenable to an open-pit heap-leach operation —Craig Lindsay

“We’re building up the project with production in mind,” Lindsay relates, “but the reality is that it is more likely that a third party is going to come in and take the thing over and put it into production. It clearly is a production-type story. It has excellent metallurgy; it’s got a good solid grade; it’s very near surface and is very amenable to an open-pit heap-leach operation.”

The project is located within 50 kilometres of an interstate highway and is accessible by road. “There’s power at the bottom of the hill, and there’s plenty of water on site,” Lindsay reports. He stresses that Idaho is particularly mining friendly, compared to some of its neighbours. “We’ve had a very favourable experience to date. We’ve turned around all of our drill programs in six weeks or less. We know people in Nevada who are taking 18 to 20 months to get drill permits. We’re in a good area from a permitting perspective because we’re not facing the challenges that many other companies do. There are no salmon-bearing streams running around our property; there’s a light population; and there are no First Nations concerns.”

Otis’s other major asset is its Oakley gold project in Idaho’s Cassia County, which has indicated resources of 235,000 ounces gold, and which Otis has indicated it intends to joint venture.

Lindsay concludes, “We’re really pleased with what we have accomplished at Kilgore in the last three and a half years. We’ve hit on something like 62 of 68 drill holes; the deposit is open in every direction; we’ve got two other high-priority targets on the project. We have the capability to clearly move this into a multimillion ounce story.”

At press time, Otis Gold had 42.9 million shares trading $0.205 for a market cap of $8.8 million. The company’s other properties include the Buckhorn, Hai and Goldbug projects, all located in Idaho.

Western Pacific reports Idaho Gold Assays as high as 2.6 g/t over 10.6m

January 9th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningWestern Pacific Resources Corp TSXV:WRP announced assays from the Mineral Gulch project in Cassia County, Idaho. Results include

0.93 g/t gold over 12.2 metres
1.19 g/t over 4.6 metres
1.13 g/t over 10.6 metres
2.6 g/t over 10.6 metres
0.56 g/t over 47.2 metres
1.18 g/t over 12.2 metres

The Mineral Gulch project encompasses the historic Black Pine Mining District. The Black Pine property produced over 500,000 ounces of gold at an average head grade of 1.5 grams from several small open pits.

View Company Profile

Contact:
Western Pacific Resources Corp
604.801.5432

by Ted Niles

Otis reports Idaho Gold Assays including 1.05 g/t over 48.8m

December 9th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningOtis Gold Corp TSXV:OOO announced assays from the Mine Ridge deposit of its Kilgore gold project in Clark Country, Idaho. Results include

0.8 g/t gold over 9.1 metres
0.63 g/t over 29 metres
1.05 g/t over 48.8 metres
1.39 g/t over 15.2 metres
1.17 g/t over 10.7 metres
0.77 g/t over 21.3 metres
0.68 g/t over 30.5 metres
0.7 g/t over 39.6 metres

President/CEO Craig Lindsay commented, “Along with our recent October 2011 Kilgore drill results, these new assays continue to reveal the existence and continuation of open-ended, bulk-tonnage intercepts along sizeable portions of the northern and southern edges of the existing Mine Ridge deposit. This is extremely positive as Otis continues to grow the Mine Ridge deposit, identify new deposits and enhance shareholder value.”

View Company Profile

Contact:
Craig Lindsay
President/CEO
604.683.2507

by Ted Niles

Marathon, New Jersey report Idaho Gold Results including 4.59 g/t over 38.5m

December 5th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corp TSX:MOZ in joint venture with New Jersey Mining Company announced assays from their Golden Chest Mine in Murray, Idaho. Highlights include

4.59 g/t gold over 38.5 metres
1.52 g/t over 87.2 metres
1.83 g/t over 36.1 metres
1.27 g/t over 27 metres
(including 13.4 g/t over 1.6 metres)
2.25 g/t over 11.5 metres
0.67 g/t over 28.2 metres

Each company holds a 50% interest in the project, with New Jersey Mining acting as project operator.

Marathon President/CEO Phillip Walford stated, “Since the commencement of this 10,000-metre drilling program, we have had consistent encouraging results at Golden Chest. These intercepts suggest that the open-pit potential extends beyond the historic open-pit resource. We anticipate the release of an NI 43-101-compliant resource estimate in Q1 2012 and in an effort to continue developing and expanding this deposit, Golden Chest will be undergoing an aggressive 25,000-metre drilling program in 2012. We have seen significant advancements at Golden Chest in 2011 and we anticipate further important advancements with the large 2012 drilling program.”

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Contact:
Marathon Gold Corp
Jennie Guay
IR Manager
416.987.0714

New Jersey Mining Company
208.783.1032

Read feature story on Marathon Gold Corp.

by Greg Klein

Atlanta reports Idaho Gold Assays including 15.4 g/t over 15.2m

October 27th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningAtlanta Gold Inc TSXV:ATG announced drill results from its Atlanta gold property in Idaho. Highlights include

0.74 g/t gold over 7.6 metres
1.06 g/t over 3 metres
37.19 g/t over 1.6 metres
1.38 g/t over 4.6 metres
4.65 g/t over 7.6 metres
1.42 g/t over 9.1 metres
15.4 g/t over 15.2 metres
2.92 g/t over 3.1 metres
3.24 g/t over 2.4 metres

The Atlanta project is located in the Middle Boise Mining District of Idaho and has historic production of 297,000 ounces gold and 2.6 million ounces silver.

View Company Profile

Contact:
Bill Baird
VP/CFO
416.777.0013

by Ted Niles

Marathon, New Jersey report Idaho Results as high as 2.05 g/t Gold over 37.3m

October 26th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMarathon Gold Corporation TSX:MOZ in joint venture with New Jersey Mining Company announced assays from their Golden Chest Mine in Murray, Idaho. Highlights include

2.05 g/t gold over 37.3 metres
(including 7.56 g/t over 6.9 metres)
1.74 g/t over 45.2 metres
1.69 g/t over 30.8 metres
(including 11 g/t over 1.9 metres)
1 g/t over 31 metres
0.95 g/t over 25.7 metres

Each company owns 50% of the Golden Chest Mine, with New Jersey Mining acting as project operator. Marathon President/CEO Phillip Walford commented, “Thus far the core drilling efforts at Golden Chest have proven to be very rewarding for Marathon since these intercepts are even better than expected, in both grade and thickness, than previous widely spaced reverse-circulation and diamond-drill holes. Drilling to date and geological work this year has demonstrated that the open-pit potential goes beyond the limits of the historic open-pit resource. Subsequently we expect to undertake another drill program next year to define the full open-pit potential. The new NI 43-101-compliant resource, expected in the first quarter of 2012, is the first step in expanding the Golden Chest deposit.”

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Contact:
Marathon Gold Corp
Jennie Guay
IR Manager
416.987.0714

New Jersey Mining Company
Grant Brackebusch
Vice-President
208.783.1032

Read more about Marathon Gold Corp.

by Greg Klein

Otis reports Idaho Results of 0.89 g/t Gold over 118.8m

October 6th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningOtis Gold Corp TSXV:OOO announced assays from the Mine Ridge Deposit of its Kilgore Gold Project in Clark County, Idaho. Results include

0.89 g/t gold over 118.8 metres
(including 1.01 g/t over 97.5 metres)
0.89 g/t over 114.3 metres
(including 1.1 g/t over 80.8 metres)
0.7 g/t over 50.3 metres
(including 1.13 g/t over 18.3 metres)
0.88 g/t over 35 metres
(including 1.03 g/t over 16.7 metres)

Chief Geologist Mitch Bernardi commented, “These intercepts represent the thickest and shallowest part of the Mine Ridge deposit encountered to date in an area previously thought to represent the boundary or edge of the deposit. The intercepts found in holes 11 OKC-256, 258, 259, and 260, along the northwestern edge of the deposit, are associated with a thick dike or sill and suggest that a new area of significant open-ended gold mineralization has been discovered with economics that can only improve those of the overall deposit, which is already good.”

View Company Profile

Contact:
Craig Lindsay
President
604.683.2507

by Greg Klein

Terraco reports Idaho Results including 1.09 g/t Gold over 50.9m

October 5th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningTerraco Gold Corp TSXV:TEN announced assays from its Almaden Project in Washington County, Idaho. Results include

1.09 g/t gold over 50.9 metres
(including 1.16 g/t over 10.7 metres)
0.81 g/t over 67.1 metres
(including 1.04 g/t over 25.9 metres)
0.58 g/t over 55.2 metres
(including 0.93 g/t over 10.7 metres)
0.55 g/t over 41.1 metres
(including 0.71 g/t over 16.8 metres)

President/CEO Todd Hilditch remarked, “Terraco is accomplishing the goals set out prior to the Almaden drilling program and is very happy with the gold results in the first nine core holes announced at Almaden. Not only are we seeing better than average gold mineralization from the current NI 43-101-compliant resource, we are seeing deeper zones of anomalous gold mineralization beneath the defined resource by drilling much further than previous operators. Terraco is continuing to drill using core in an effort to identify potential feeders, while improving the grade of the known deposit.”

View Company Profile

Contact:
Todd Hilditch
President/CEO
877.792.6688
604.443.3831

by Greg Klein