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Resource Clips


Posts tagged ‘Malbex Resources Inc (MBG)’

Malbex CEO Tim Warman on Argentina assays of 1.1 g/t gold, 19.5 g/t silver over 18m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMalbex Resources Inc TSXV:MBG announced drill results from its Del Carmen Project in San Juan province, Argentina. Highlights include

0.3 g/t gold over 61 metres
1.1 g/t gold and 19.5 g/t silver over 18 metres
(including 5.66 g/t gold and 76.6 g/t silver over 3 metres)
0.46 g/t gold over 19 metres
1.25 g/t gold and 30.6 g/t silver over 6 metres
3.87 g/t gold over 15 metres

President/CEO Tim Warman tells ResourceClips.com, “It’s a project we’ve been working on for a couple of years now. It’s up in the El Indio Belt, a very prospective area. There are a lot of big mines up there. It’s a fairly large alteration system—about nine square kilometers—and we’ve been focused in on one particular area called Rojo Grande. It’s where most of these drill results were from. So really, we’re just building on a resource we put out last year, which was about a million ounces of gold equivalent. It’s shallow, oxide and seems to leach fairly well from the preliminary metallurgical tests.

We probably have three or four companies that have been to the [Del Carmen] site in the last two months. We signed confidentiality agreements with them and exchanged data with them—Tim Warman

“[The results] are not bad,” he continues. “There are some nice, high-grade zones in there. Obviously, in a leaching-type environment the grade is important. Relative to its peers it’s actually got a pretty good grade right now; the resource grade is 1 g/t gold and there aren’t many out there with that kind of grade in terms of oxides. The goal right now is to make it bigger.

“The drilling season has wound down. It’s winter up in the Andes right now, so we pulled the drills out about a week ago. There are still quite a few more drills holes to come in terms of results still pending in the laboratory. This season we’re going to get started on exploring some of our new projects in Argentina and Peru, some lower elevation projects that we can work during the Southern Hemisphere winter. We’ve also got some metallurgical work that is coming, I’m guessing, in May or perhaps in June. We’re looking at some column leach tests on the Del Carmen material to get a better idea quantitatively how well that leaches.

“It’s a relatively expensive area to work. We’ve spent about $20 million in the last two to three years drilling up there. I think we’ve come up with a pretty good resource out of that money. But, particularly given the state of the markets, I think that rather than trying to go back to the markets for another equity raise, it’s time to look for someone who has slightly longer timelines in mind.”

Regarding a possible joint venture, Warman says that discussions are going well. “We probably have three or four companies that have been to the site in the last two months. We signed confidentiality agreements with them and exchanged data with them. We have quite a few more CAs than that, but the serious ones I would guess are about three or four companies and we’re talking with them right now. Our plan has always been to explore [our properties], build them up, de-risk them and pass them on to someone who actually enjoys building mines.

“We’re in San Juan Province which—in terms of being pro-mining—is probably the best province in the whole country to work. There are big mines operating there right now, and it’s highly supported by the government. You can drive up [to Del Carmen] in a Toyota Corolla if you wanted, even though you’re above 4,000 metres in the Andes. It’s mainly because we use the access road that leads up to Barrick’s [TSX:ABX] Pascua-Lama and Veladero projects. And there is water up there. The one thing you don’t have is power, but these heap-leach operations aren’t terribly power hungry anyway.”

Warman adds, “We’re reasonably well funded for the next six months. That’s one of the reasons we want to get a partner in for Del Carmen: we don’t want to go back to the equity markets.”

He concludes, “We’re pretty pleased with how the project is shaping up. It’s proving to be a reasonably sizable resource—maybe not tens of millions of ounces but it certainly has the potential to be a multimillion ounce deposit. It will just take some more drilling and some more time.”

View Company Profile

Contact:
Tim Warman
President/CEO
416.628.0215

or Marla Gale
VP Investor Relations
416.628.0215

by Ted Niles

Malbex reports Argentina Gold Assays up to 3.87 g/t over 15m

April 26th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMalbex Resources Inc TSXV:MBG announced drill results from its Del Carmen Project in San Juan province, Argentina. Highlights include

0.3 g/t gold over 61 metres
1.1 g/t gold and 19.5 g/t silver over 18 metres
(including 5.66 g/t gold and 76.6 g/t silver over 3 metres)
0.46 g/t gold over 19 metres
1.25 g/t gold and 30.6 g/t silver over 6 metres
3.87 g/t gold over 15 metres

President/CEO Tim Warman tells ResourceClips.com, “It’s a project we’ve been working on for a couple of years now. It’s up in the El Indio Belt, a very prospective area. There are a lot of big mines up there. It’s a fairly large alteration system—about nine square kilometers—and we’ve been focused in on one particular area called Rojo Grande. It’s where most of these drill results were from. So really, we’re just building on a resource we put out last year, which was about a million ounces of gold equivalent. It’s shallow, oxide and seems to leach fairly well from the preliminary metallurgical tests.

We probably have three or four companies that have been to the [Del Carmen] site in the last two months. We signed confidentiality agreements with them and exchanged data with them—Tim Warman

“[The results] are not bad,” he continues. “There are some nice, high-grade zones in there. Obviously, in a leaching-type environment the grade is important. Relative to its peers it’s actually got a pretty good grade right now; the resource grade is 1 g/t gold and there aren’t many out there with that kind of grade in terms of oxides. The goal right now is to make it bigger.

“The drilling season has wound down. It’s winter up in the Andes right now, so we pulled the drills out about a week ago. There are still quite a few more drills holes to come in terms of results still pending in the laboratory. This season we’re going to get started on exploring some of our new projects in Argentina and Peru, some lower elevation projects that we can work during the Southern Hemisphere winter. We’ve also got some metallurgical work that is coming, I’m guessing, in May or perhaps in June. We’re looking at some column leach tests on the Del Carmen material to get a better idea quantitatively how well that leaches.

“It’s a relatively expensive area to work. We’ve spent about $20 million in the last two to three years drilling up there. I think we’ve come up with a pretty good resource out of that money. But, particularly given the state of the markets, I think that rather than trying to go back to the markets for another equity raise, it’s time to look for someone who has slightly longer timelines in mind.”

Regarding a possible joint venture, Warman says that discussions are going well. “We probably have three or four companies that have been to the site in the last two months. We signed confidentiality agreements with them and exchanged data with them. We have quite a few more CAs than that, but the serious ones I would guess are about three or four companies and we’re talking with them right now. Our plan has always been to explore [our properties], build them up, de-risk them and pass them on to someone who actually enjoys building mines.

“We’re in San Juan Province which—in terms of being pro-mining—is probably the best province in the whole country to work. There are big mines operating there right now, and it’s highly supported by the government. You can drive up [to Del Carmen] in a Toyota Corolla if you wanted, even though you’re above 4,000 metres in the Andes. It’s mainly because we use the access road that leads up to Barrick’s [TSX:ABX] Pascua-Lama and Veladero projects. And there is water up there. The one thing you don’t have is power, but these heap-leach operations aren’t terribly power hungry anyway.”

Warman adds, “We’re reasonably well funded for the next six months. That’s one of the reasons we want to get a partner in for Del Carmen: we don’t want to go back to the equity markets.”

He concludes, “We’re pretty pleased with how the project is shaping up. It’s proving to be a reasonably sizable resource—maybe not tens of millions of ounces but it certainly has the potential to be a multimillion ounce deposit. It will just take some more drilling and some more time.”

View Company Profile

Contact:
Tim Warman
President/CEO
416.628.0215

or Marla Gale
VP Investor Relations
416.628.0215

by Ted Niles

Malbex reports Argentina Results including 2.05 g/t Gold, 7.4 g/t Silver over 109m

January 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMalbex Resources Inc TSXV:MBG announced results from its Del Carmen Project in Argentina. Highlights include

2.05 g/t gold and 7.4 g/t silver over 109 metres
(including 4.01 g/t gold and 17.3 g/t silver over 23 metres)
1.48 g/t gold and 1.9 g/t silver over 4 metres

The project’s Rojo Grande Deposit has a September 2011 resource estimate of 25.4 million tonnes grading 1 g/t gold and 13.3 g/t silver for 816,600 ounces gold and 10.9 million ounces silver inferred.

President/CEO Tim Warman stated, “Hole 57A has clearly demonstrated the continuity of potentially economic, near-surface mineralization to the south-southwest of the inferred mineral resource at Rojo Grande. Our goals this season are to expand the one-million-ounce gold-equivalent resource in the Rojo Grande deposit and to test other promising geological and new geophysical targets within the nine-square-kilometre Del Carmen Norte alteration system.”

View Company Profile

Contact:
Tim Warman
President/CEO
or Marla Gale
VP of Investor Relations
416.628.0215

by Greg Klein

Malbex reports Argentina Assays of 3.31 g/t Gold, 25.2 g/t Silver over 46m

March 25th, 2011

Malbex Resources Inc TSXV:MBG announced results from the Rojo Grande Target of its Del Carmen Project in San Juan province, Argentina. Assays include 3.31 g/t gold and 25.2 g/t silver over 46 metres, and 2.1 g/t gold and 10.8 g/t silver over 132.7 metres (including 5.51 g/t gold and 20.4 g/t silver over 23 metres).

President/CEO Tim Warman said, “The results of holes 42 and 46 have improved our geologic model, and our ability to target higher-grade zones within the Rojo Grande ledge. Rojo Grande is delivering everything we could ask for—consistent gold-silver mineralization with higher-grade, near-surface zones, generally shallow to non-existent overburden, encouraging metallurgy, and the structure remains open at depth and to the southwest. We’re currently awaiting the results for the scissor hole on this section in order to better understand the geometry of the higher-grade zones discovered in holes 42 and 46, and will be looking to infill this area before the end of the current drilling season.”

Read More about Malbex Resources

View Company Profile

Contact:
Tim Warman
President/CEO
416.628.0215

or Marla Gale
VP Investor Relations
416.628.0215

by Ted Niles

Malbex reports Argentina Gold Assays up to 2.84 g/t over 103m

February 23rd, 2011

Malbex Resources Inc TSXV:MBG announced assay results from the Rojo Grande Target of its Del Carmen Project in San Juan Province, Argentina. Highlights include 2.84 g/t gold and 6.4 g/t silver over 103 metres (including 48.34 g/t gold and 15.4 g/t silver over 5 metres) and 0.7 g/t gold over 19 metres (including 1.14 g/t gold over 10 metres).

President/CEO Tim Warman commented, “Today’s results confirm the presence of high-grade zones within Rojo Grande. Such high-grade areas bring us closer to our goal of defining a potentially economic, near-surface, oxidized mineral resource at Rojo Grande in the current drill campaign. We’re currently planning a scissor hole through the high grade zone discovered in hole 42 in order to better understand its geometry.”

View Company Profile

Contact:
Tim Warman
President/CEO
416.628.0215

Read More about Malbex Resources

by Ted Niles

Malbex reports Argentina Gold Assays up to 1.41 g/t over 49m

February 9th, 2011

Malbex Resources Inc TSXV:MBG announced drill results from its Del Carmen Project in San Juan Province, Argentina. Assays include 1.41 g/t gold and 3.2 g/t silver over 49 metres (including 7.08 g/t gold and 11.6 g/t silver over 8 metres), 0.41 g/t gold and 8.78 g/t silver over 22 metres, 0.9 g/t gold and 13.25 g/t silver over 24 metres, and 0.77 g/t gold and 9.3 g/t silver over 86 metres.

President/CEO Tim Warman stated, “As our drilling program continues to expand the Rojo Grande mineralization, we’re encouraged by its continuity, generally shallow depth and strong gold recovery shown in preliminary metallurgical testing. Additionally, today’s results show the potential for higher grade zones. While we still need to demonstrate an economic resource through more drilling, Rojo Grande is beginning to show potential for a low-cost open-pit, heap leach mining scenario.”

View Company Profile

Contact:
Tim Warman
President/CEO
416.628.0215

or Marla Gale
VP Investor Relations
416.628.0215

by Ted Niles