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Resource Clips


Posts tagged ‘Midway Gold Corp. (MDW)’

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.

News from Nevada

January 7th, 2013

Liberty, Renaissance, Midway and Paramount keep busy in the golden Silver State

by Greg Klein

Next Page 1 | 2

As Visual Capitalist points out, Nevada has given up 200 million ounces of gold so far. Once known as America’s “Silver State,” it now produces about 73% of U.S. gold and hosts the world’s second-largest concentration of the yellow metal. Favourable policies and extensive infrastructure complement the generous geology and correspondingly busy activity. On January 7, Liberty Silver TSX:LSL, Renaissance Gold TSX:REN, Midway Gold TSXV:MDW and Paramount Gold and Silver TSX:PZG all released news from the bountiful jurisdiction.

New claims and lower cutoff grades helped joint venture partners Liberty Silver and Renaissance Gold more than double their Trinity resource in Nevada’s Pershing County. The new estimate gives separate, imperial numbers for the oxide and sulphide deposits, both contained within the same potential open pit.

Using a cutoff of 0.5 silver ounces per ton, Trinity’s oxide deposit shows an inferred category of:

  • 6.43 million tons averaging 1.134 ounces per ton silver for 7.29 million silver ounces.

The sulphide deposit uses a cutoff of 0.8 silver-equivalent ounces, showing an inferred category of:

  • 19.79 million tons averaging 1.07 ounces per ton silver, 0.217% lead and 0.354% zinc (or 1.46 silver-equivalent ounces per ton) for 21.16 million silver ounces, 85.96 million lead pounds and 140.25 million zinc pounds (or 28.84 million silver-equivalent ounces).
An historic photo shows where mining ended in 1996 <br />at the Sleeper project, now held by Paramount Gold and Silver.” width=”400″ height=”300″ />
<p class=An historic photo shows where mining ended in 1996
at the Sleeper project, now held by Paramount Gold and Silver.

The silver-equivalent total for both deposits comes to 36.1 million ounces inferred. Since the previous resource released in December 2011, Trinity’s oxide silver estimate increased 131%, while the sulphide silver-equivalent estimate increased 132%. The 2011 estimate used cutoff grades of 1.37 ounces per ton silver for the oxide deposit and 1.69 ounces per ton silver for sulphides. The updated resource takes higher silver prices into consideration.

But the JV partners also attribute the resource increase to historic drilling on the adjoining Hi Ho Silver property, which they picked up in October. The 40-hectare acquisition raised Trinity’s land package to about 4,250 hectares.

The Trinity open pit was mined during 1988 and 1989, when it produced five million silver ounces. Both step-out and confirmation drilling began last year to expand and upgrade the resource. Liberty acts as project operator.

Liberty’s stock closed January 4 at $0.60, opened January 7 at the same price, then closed on the day’s high of $0.73. Renaissance opened January 7 at $0.55, two cents above its previous close, then sustained a daily high of $0.57 to the closing bell.

Step-out and confirmation drilling have also taken place at Midway Gold’s TSXV:MDW Gold Rock project in Nevada’s White Pine County, with new results released January 7. Estimates for true widths were provided for some intervals. Highlights include:

  • 3.26 grams per tonne gold over 9.1 metres
  • (including 9.12 g/t over 3 metres)
  • 0.89 g/t over 27.4 metres true width
  • (including 3.53 g/t over 1.2 metres)
  • (including 5.1 g/t over 1.5 metres)
  • 1.23 g/t over 18.3 metres true width
  • (including 4.9 g/t over 1.5 metres)
  • (including 7.44 g/t over 1.5 metres)
  • (including 3.77 g/t over 3 metres)
  • 0.58 g/t over 36.6 metres true width
  • 0.93 g/t over 18.3 metres true width
  • (including 4.46 g/t over 1.5 metres).

The top-most intercept began at three metres from surface while the lowest stopped at a down-hole depth of 310 metres. Assays are pending for six more holes.

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Midway, Barrick report NV Gold Assays up to 1.75 g/t over 157.6m, 1.65 g/t over 144.9m

August 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMidway Gold Corp TSXV:MDW in joint venture with Barrick Gold Exploration Inc TSX:ABX announced results from their Spring Valley Project in Nevada. Highlights include

1.94 grams per tonne gold over 26 metres
(including 5.74 g/t over 2 metres)
1.12 g/t over 12 metres
1.4 g/t over 36 metres
(including 7.33 g/t over 1 metre)
2.09 g/t over 12 metres
(including 4.98 g/t over 3 metres)
4.89 g/t over 13 metres
(including 25.1 g/t over 1.5 metres)
1.88 g/t over 16 metres
(including 6.22 g/t over 1 metre)
1.02 g/t over 6 metres
2.13 g/t over 5 metres

Barrick can earn a 60% interest in the project by spending US$30 million before December 31, 2013. Barrick plans to spend US$7 million this year, for a total of US$16 million by December 31, 2011.

Midway President/CEO Ken Brunk commented, “We are very pleased with Barrick’s continued progress at our Spring Valley project. The exploration phase of this year’s program continues to show growth potential, particularly in the north, as well as identifying new targets. Emphasis is now shifting to complete this year’s project development program in support of an initial economic evaluation. Barrick continues to fund its earn-in requirement ahead of schedule.”

View Company Profile

Midway Gold Corp
720.979.0900

Barrick Gold Exploration Inc
416.861.9911

by Kevin Michael Grace

Midway reports Nevada Gold Assays including 1.37 g/t over 50m

February 21st, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMidway Gold Corp TSXV:MDW announced assays from its Gold Rock project in White Pine County, Nevada. Results include

1.44 g/t gold over 45.6 metres (including 4.87 g/t over 3 metres)
1.37 g/t over 50.6 metres (including 4.42 g/t over 8.2 metres)
0.55 g/t over 54.6 metres
0.58 g/t over 67.1 metres
1.34 g/t over 30.5 metres (including 2.16 g/t over 16.8 metres)

President/CEO Ken Brunk commented, “Our 2011 drilling verified the gold mineralization adjacent to the Easy Junior pit and along strike to the north and south. The results from the three pairs of twin holes are a robust confirmation of the RC drilling. Validation of the historic data is being conducted independently and will be included in a new NI 43-101 resource estimate, in progress. We believe the Gold Rock gold deposit is comparable in size to our nearby Pan gold deposit, but with a potentially higher average grade. We are planning an aggressive drill program for 2012 to establish the size and grade of the deposit and to put the project on a course for mine development.”

View Company Profile

Contact:
R.J. Smith
VP Administration
877.475.3642

by Ted Niles

Midway reports Nevada Gold Assays including 7.68 g/t over 45.9m

December 8th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMidway Gold Corp TSXV:MDW announced drill results from the Discovery zone of its Tonopah project in Nye County, Nevada. Highlights include

1.03 g/t gold over 13.4 metres
1.99 g/t over 52.4 metres (including 7.41 g/t over 4 metres)
4.35 g/t over 10.7 metres
2.02 g/t over 47.9 metres (including 88.08 g/t over 0.5 metres)
1.13 g/t over 44.5 metres
4.83 g/t over 21.6 metres (including 17.5 g/t over 2.7 metres)
2.67 g/t over 46.6 metres (including 6.34 g/t over 15.5 metres)
7.68 g/t over 45.9 metres (including 78.41 g/t over 1.5 metres)
3.53 g/t over 17.1 metres
2.09 g/t over 30.5 metres

President/COO Ken Brunk commented, “We are pleased with the grades and length of our drill results in the Discovery Zone. Our 2011 drilling confirmed that the higher-grade gold zones occur within lower grade blanket-like gold mineralization. This allows us to evaluate various mining methods including open pit or underground methods and select the best approach for the project. To avoid confusion with the company name, the Midway Project has been renamed the Tonopah Project.”

View Company Profile

Contact:
R.J. Smith
VP Administration
877.475.3642

by Ted Niles

Midway reports Nevada Gold Assays up to 2.33 g/t over 23m

November 14th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMidway Gold Corp TSXV:MDW announced assays results from its Gold Rock project in White Pine County, Nevada. Highlights include

0.42 g/t gold over 48.8 metres
0.48 g/t over 24.4 metres
0.97 g/t over 44.2 metres
2.34 g/t over 22.9 metres (including 4.58 g/t over 3 metres)
0.93 g/t over 13.7 metres
0.67 g/t over 51.8 metres (including 4.47 g/t over 1.5 metres)

President/COO Ken Brunk stated, “Our verification drilling is continuing to encounter gold mineralization adjacent to the Easy Junior open pit and along strike to the north and south. The results correlate well with the location and grade of gold intercepts found in historical drill holes. This validation of the historic data should allow us to include data from 673 historic drill holes along with our own drilling when estimating a new NI 43-101 compliant resource. We believe Gold Rock could host a gold deposit that is comparable in size to our nearby Pan gold deposit, but with a potentially higher average grade.”

View Company Profile

Contact:
RJ Smith
VP Administration
877.475.3642

by Ted Niles

Midway reports Nevada Gold Results of 2.06 g/t over 33.5m

September 14th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMidway Gold Corp TSXV:MDW announced results from its Gold Rock Project in White Pine County, Nevada. Assays include 2.06 g/t gold over 33.5 metres (including 4.18 g/t over 7.6 metres), 0.96 g/t over 48.8 metres, 0.51 g/t over 38.1 metres, 0.45 g/t over 38.1 metres and 0.82 g/t over 18.3 metres.

President/COO Ken Brunk said, “Midway has identified gold mineralization from historic drill data that extends for almost three kilometres along strike north and south of the previously mined Easy Junior pit. The historic resource represents only a small portion of the area and is confined to only about 0.6 kilometres of strike length around the existing open pit. Our 2011 drilling program is designed to verify the location and grade reported in the historic holes so we can use those results in an NI 43-101 resource estimate that will cover an area substantially larger than that of the reported historic resource. We believe Gold Rock could host a gold deposit that is comparable in size to our nearby Pan Gold Deposit, but with a potentially higher average grade. This large amount of historic drilling, once verified, could allow Midway to more quickly move this property toward a development stage.”

View Company Profile

Contact:
Midway Gold Corp
720.979.0900
877.475.3642

by Greg Klein