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Posts tagged ‘new brunswick’

Where the money is

June 10th, 2016

Joe Martin sees a fundamental transformation coming to junior financing

by Greg Klein

The old system’s not only broken, it can’t be fixed. The world of finance for mineral exploration is changing and juniors must learn new rules and master new tools to survive. That’s the message from Joe Martin, a former business journalist, the founder of Cambridge House International and a prominent advocate for investment regulatory reform.

Well, better scratch that last designation. He’s no longer advocating reform. “There’s no sense trying to change the existing rules because no one at the executive level wants to,” Martin says. “So we have to look at new opportunities emerging, primarily through electronic media.”

Joe Martin sees a fundamental transformation in junior financing

The reform movement failed, he says, despite encouraging response to an open letter by the Venture Capital Markets Association last August. The status quo prevailed—and for that, Martin blames political indifference, bureaucratic intransigence, the self-serving agendas of Canada’s fragmented securities commissions and banks that wield power over the TSX Venture. “Nobody wants to take action and we don’t have the money to fund a multi-million-dollar campaign,” he says.

Now he’s addressing the juniors, not the regulators, and he’s urging them to recognize new financing opportunities in crowdfunding, peer-to-peer transactions and the U.S. JOBS Act.

Crowdfunding has already prompted considerable buzz, especially with the arrival of Australian mine-funder Mineral Intelligence in late 2015, followed by Canada’s Red Cloud Klondike Strike after Manitoba, Ontario, Quebec, New Brunswick and Nova Scotia laid down a regulatory framework in January. Investors register with Klondike under the ordinary, eligible or accredited category.

Klondike’s first listing, Banyan Gold TSXV:BYN put up a $750,000 offer on March 2. The company closed a more conventional private placement of $200,000 the previous January. By press time, Banyan had yet to update the progress of its online offer.

Following that company by six days, Radisson Mining Resources TSXV:RDS offered up to $1 million on Klondike after completing a $324,000 private placement in December. Radisson expected to complete its offer by April 8. But it wasn’t until June 6 that the company announced closing of the second and final tranche, with a total $675,010 raised.

Joe Martin sees a fundamental transformation in junior financing

Joe Martin: “You’d better get in
this game and learn the new rules.”

Klondike’s biggest involvement so far might be IDM Mining TSXV:IDM, which raised a total of $10.85 million in April with Rob McEwan participating. But IDM didn’t divulge how much crowdfunding contributed. The company had said a portion of the placement would be brokered through a syndicate of Klondike, Haywood Securities and Medalist Capital.

Current offers listed on Klondike come from GoviEx Uranium CSE:GXU (up to $2 million), Sarama Resources ($2.25 million) and Brixton Metals TSXV:BBB ($1 million and $1.3 million).

Martin foresees a fairly gradual transformation but a definite change nevertheless with crowdfunding, peer-to-peer lending and the U.S. JOBS Act “all blending together to bring in a new world of financing. P2P, for example, is becoming very big in England.”

With last month’s Tier III enactment of JOBS (Jumpstart Our Business Startups), American crowdfunding has “opened up big time,” Martin says. “Less than 1% of Canadians are accredited investors who can take part in private placements.” The new U.S. regulations allow crowdfunding participants to invest a portion of their income or net worth, up to a percentage that depends on the individual’s financial circumstances.

“Those rules are changing. Canada isn’t changing, so we may be going to the States for financing.”

Martin also sees hope for Canadian juniors on foreign exchanges, as well as the Venture’s rival. “The CSE is doing a pretty good job. They’re a lot easier to deal with.”

Having despaired of fixing the existing system, he sees new opportunities elsewhere—provided juniors adapt. “You’d better get in this game and learn the new rules,” he emphasizes. “But don’t try to change the old ones because we’re not going to get it done.”

Joe Martin addresses the Vancouver Commodity Forum on June 14. Click here for free registration.

Are miners denigrating Canadian geology?

March 4th, 2016

by Greg Klein | March 4, 2016

Are miners denigrating Canadian geology?

 

A look at Canadian jurisdictions in this year’s Fraser Institute Survey of Mining Companies suggests perceptions of the country’s geology have declined. The survey emphasizes two main indexes, one addressing matters of government policy, the other considering geology as well as policy. The biggest changes from the previous year showed up in the latter index.

Called the Investment Attractiveness Index, it weighs responses from mining and exploration professionals, giving 60% for their answers on questions about mineral potential and 40% on questions about public policy. The 60/40 split reflects the way companies generally base their investment decisions, according to the survey.

The IAI ranked New Brunswick 11th out of 12 Canadian jurisdictions (Prince Edward Island wasn’t included) and 45th out of 109 jurisdictions worldwide. That’s a steep fall from the previous year, when New Brunswick came in 19th out of 122 jurisdictions.

But the survey’s Policy Perception Index was less dramatic, showing the province fell from third place in 2014 to ninth place in the current poll.

The IAI dropped Manitoba from fifth to 19th place globally. But the PPI actually raised the province two notches, from 15th to 13th.

Then there’s Nova Scotia, with Canada’s worst IAI score. But the province gets a middling sixth place in Canada for public policy. (Globally, the province ranked 59 on IAI and 17 on PPI.)

Obviously public policy can change significantly and quickly. But, barring dramatic new discoveries, widespread mine depletion or plunging commodity prices, wouldn’t mineral potential undergo more gradual transformation?

When rating geology, companies “have downgraded Canada a bit and they’re saying it’s less attractive this year,” says Fraser Institute policy analyst Taylor Jackson, who co-authored the survey with Kenneth Green. “This is the reason we saw Australia surpass Canada as the region that’s the most overall attractive in the world.”

Jackson adds, “It could be that they’re factoring in that certain commodities are less attractive to them than in the past. It is tough to say, though, what they’re thinking. It could be a combination of things.”

Strangest of all Canadian rankings was Nunavut. The territory showed strong IAI improvement, moving from 34th to 23rd place. That contrasted with its PPI score, which declined from 51st to 54th.

Despite Canada’s slump, Saskatchewan held on to its second-place global IAI position and moved from fifth to fourth place on the global PPI. Apparently the potash gloom failed to overshadow mining-friendly policies and high Athabasca Basin uranium grades.

Download the Fraser Institute Survey of Mining Companies 2015.

Read about the previous week’s Fraser Institute report on permitting times across Canada.

How Long Blues

February 23rd, 2016

The Fraser Institute looks at exploration permit wait times across Canada

by Greg Klein

The Fraser Institute looks at exploration permit wait times across Canada

Mineral explorers in Canada generally wait longer than before for permits, the Fraser Institute reports.
Chart: The Fraser Institute

A country’s mineral output doesn’t necessarily correspond to its geological endowment, a new study reminds us. Other factors also play a role, among them exploration permitting. In many parts of Canada, that early but crucial step towards finding a new mine faces growing wait times, questionable transparency and increasing uncertainty. Those are some of the findings of a Fraser Institute study released February 23. The first-time survey, focusing on this one issue and limited to Canadian jurisdictions, arrives a week before the institute’s annual global survey of miners and explorers.

“This is a topic for which we’ve received feedback both in previous years’ surveys and in conversations we’ve had with explorers, and it’s something they consistently note to us as a growing problem,” says Taylor Jackson, an institute policy analyst and report co-author along with Kenneth Green.

It’s a growing problem in more ways than one. But there’s considerable variation between some jurisdictions, with Saskatchewan shining brightly while Ontario, the Northwest Territories and Nunavut look relatively gloomy. And although it’s slowing, Canadian permitting’s still faster than the global average.

Survey answers came from 122 people reporting on 10 jurisdictions. (Alberta, Nova Scotia and Prince Edward Island drew too few responses to be included.) Five jurisdictions had the majority saying that permitting times had lengthened over the last decade. Those who reported shorter wait times were the minority. But a slim majority of Newfoundland and Labrador respondents (56%) said wait times had stayed the same.

Saskatchewan, which ranked #2 in last year’s global survey, drew the smallest proportion of complaints (27%) about lengthening wait times.

Of Canada’s three biggest exploration targets, Ontario provoked more wait time pessimism than British Columbia or Quebec. Fourteen percent of Ontario explorers forecast waits of 11 to 14 months, compared to B.C.’s 2% and Quebec’s 3%. Another 7% of Ontario explorers anticipated waiting over two years for a permit, compared to another 2% in B.C. and 3% in Quebec.

The Fraser Institute looks at exploration permit wait times across Canada

A 1983 study found that mineral production in Western countries correlated poorly with geological riches. More recently, about 60% of Fraser Institute respondents say
they base their investment decisions on geology. The rest
cite policy-related factors. Image: The Fraser Institute

Transparency arises as another critical issue. “When explorers do not understand what the rules are or how they are applied, the result can be a deterrent to investment,” the report states.

Manitoba and Saskatchewan drew the highest proportions of respondents (50% and 47% respectively) saying the jurisdiction’s transparency actually encourages exploration. Moreover, the results were mostly positive when combining those who said a jurisdiction’s transparency encourages exploration with those who at least said that transparency concerns didn’t create a deterrent. Only the NWT flunked that one with a dismal 31%, while neighbouring Nunavut got 50%.

Saskatchewan came out on top with 94%, followed by New Brunswick (83%), Newfoundland and Labrador (78%) and Quebec (71%).

Although respondents remained confidential, they weren’t given the chance to express open-ended comments, as the institute’s global survey allows. Jackson says that could change if the survey’s repeated in future years.

The next time we might open it up to Australia and U.S. and get some feedback on how Australian and American states are performing, with the idea of determining who’s got the best practices and make some policy recommendations for Canada.—Taylor Jackson, Fraser Institute policy analyst and report co-author

Nor does the study report specific problems or make recommendations. This initial effort focused on “identifying which jurisdictions are performing well and which are not,” he explains. “The next time we might open it up to Australia and U.S. and get some feedback on how Australian and American states are performing, with the idea of determining who’s got the best practices and make some policy recommendations for Canada.”

Confidentiality’s the key to companies’ candour. So a similar survey about mine permitting would be problematic, Jackson points out. With mine proposals far fewer than exploration projects, governments might suss out who said what.

“But this is an issue that we would like to look at,” he says. “I don’t know if we’d do it in a survey form but it’s certainly an issue for setting up a mine as well.”

Two weeks ago Taseko Mines TSX:TKO launched a lawsuit alleging serious breaches of transparency in the federal process that rejected the company’s proposed New Prosperity mine. Pacific Booker Minerals TSXV:BKM has filed Freedom of Information requests with the B.C. government regarding its rejection of the proposed Morrison mine. The company had previously taken the province to court over the matter.

The institute’s study follows a January report from the Northern Policy Institute examining why “a major mining boom” with nine potential operations in northwestern Ontario failed to materialize.

Do studies like these influence the people who matter?

“I do know that decision-makers are listening to what’s said in the survey,” Jackson responds. “I can say that about the broader mining survey. We have some general examples where politicians have come and talked to us and we’ve seen policy reform later. They take the survey and it helps them identify which areas they’re performing poorly in, so I think they are listening. I don’t know if the message gets across all the time but I would say they are listening.”

Here are Canada’s rankings from last year’s international survey, with their global position in parentheses:

  • Saskatchewan (2)
  • Manitoba (4)
  • Quebec (6)
  • Newfoundland and Labrador (8)
  • Yukon (9)
  • Northwest Territories (15)
  • New Brunswick (21)
  • Alberta (22)
  • Ontario (23)
  • British Columbia (28)
  • Nunavut (29)
  • Nova Scotia (42)

PEI wasn’t included. The institute’s 2015 global survey comes out March 1.

Download Permit Times for Mining Exploration: How Long Are They?

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.

Alberta most attractive mining destination in Canada, third worldwide

March 3rd, 2014

by Cecilia Jamasmie | March 3, 2014 | Reprinted by permission of MINING.com

Alberta most attractive mining destination in Canada, third worldwide

Oilsands development in northern Alberta.

 

For the second consecutive year, Alberta—home to the booming and controversial oilsands industry—ranked first in the country and third worldwide as the most attractive jurisdiction for mining investors in the Fraser Institute’s annual global survey of mining executives.

The study, released March 3 as the Prospectors and Developers Association of Canada convention kicked off in Toronto, is based on input from 690 mineral exploration and development company executives.

Sweden and Finland scored the top places in this year’s survey, which spotlighted 112 jurisdictions worldwide. Kyrgyzstan and Venezuela were named the worst two countries to venture.

“Miners praise Alberta for its transparent and productive approach to mining policy. The province offers competitive taxation regimes, sound legal systems and relatively low uncertainty around land claims. That’s what miners look for,” said Kenneth Green, Fraser Institute senior director of energy and natural resources.

Two other Canadian jurisdictions—New Brunswick (7), and Newfoundland and Labrador (9)—ranked in the top 10 worldwide, followed by Saskatchewan (12), Yukon (19), Quebec (21), Manitoba (26), Ontario (28), Nova Scotia (29), British Columbia (32), Nunavut (44) and the Northwest Territories (47).

Quebec, once the darling of mining investors, continued to fall down the rabbit hole. From 2007 to 2009, the French-speaking district topped the survey, then dropped to fifth in 2011, 11th in 2012 and finally 21st worldwide in 2013, due in part to amendments to Quebec’s mining act and recent tax policy changes.

“If Quebec wants to renew confidence in the global mining sector, it should reduce red tape, minimize the risk associated with policy changes and tax increases, and respect negotiated contracts,” Green said.

B.C. dropped to 32nd from 31st in 2012, though the survey recorded improved perceptions regarding the western province’s political stability and availability of labour and skills.

The Canadian public policy think tank also identified the 10 places mining enthusiasts should avoid. From the bottom, they are Kyrgyzstan, Venezuela, Philippines, Argentina (La Rioja and Mendoza), Angola, Zimbabwe, Ivory Coast, Indonesia and Madagascar.

Reprinted by permission of MINING.com

Week in review

March 1st, 2013

A mining and exploration retrospect for February 23 to March 1, 2013

by Greg Klein

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Another spring fever for graphite?

As one of Chris Berry’s “energy minerals”, graphite had an energetic week with the biggest news coming from Energizer Resources TSX:EGZ. The company’s Molo graphite deposit in Madagascar reached another milestone Tuesday with its preliminary economic assessment.

But to start with Monday, Rock Tech Lithium TSXV:RCK released drill results from the Plumbago area of its Lochaber project in southern Quebec. The same day Nevado Resources TSXV:VDO did the same thing for its Fermont property in the province’s northeast.

A mining and exploration retrospect

Coinciding with Energizer’s Tuesday release, Pistol Bay Mining TSXV:PST announced an option on the Portland graphite property in southeastern Ontario. Also on Tuesday, Canada Strategic Metals TSXV:CJC released metallurgical tests from its La Loutre property back in southern Quebec.

More metallurgical news came the following day from Standard Graphite’s TSXV:SGH Mousseau East deposit, again in southern Quebec. Then on Thursday Mason Graphite TSXV:LLG weighed in with drill results from Lac Gueret in northeastern Quebec.

No graphite news on Friday, however. Presumably everyone was en route to PDAC 2013, where they’ll conspire to pump up a repeat of last spring’s graphite mania.

No wait, this is the hottest new commodity

“Rhodium, the scarcest precious metal used in making catalytic converters, is outperforming platinum and palladium for the first time in seven years as global car sales rise to a record,” stated a Thursday Bloomberg report.

“The metal, used with palladium and platinum in pollution-control devices, rose 16% this year, about three times the increase of the other two ingredients and 20 times more than the benchmark commodities index (MXWD). Output will trail demand for four more years after the first deficit since 2007 [took place] last year [and eroded] inventories, Standard Bank Plc’s SBG Securities … forecasts.”

It seems to be gaining safe haven status too. “Baird & Co., a UK precious metals dealer, sold about 10,700 one-ounce rhodium bars … more than 10 times the amount planned when production began in May 2012,” the news agency added. “The London-based company expanded with bars that weigh one-tenth an ounce to five ounces to meet increased demand.”

A Baird spokesperson told Bloomberg, “At the moment we can’t make them quick enough so we are stepping up production. The market is so thin that it just needs a car company to buy a year’s worth of production or a hedge fund to pull out a little bit of loose change. It doesn’t take a lot to create quite sharp price movements.”

De Beers blockade: Cops’ lack of resolve resolves nothing

At press time Friday, De Beers’ Victor diamond mine in northern Ontario had gone seven (7) days without an illegal native blockade. The most recent roadblock ended late February 22 when the five or six protestors simply left. Then, and only then, did police move in.

So far the company has lost nearly half of an approximately 45-day opportunity to haul a year’s worth of heavy supplies over a seasonal ice road. As a result, the mine might face a temporary shutdown, the Timmins Daily Press reported on Tuesday.

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Rating the risks

February 28th, 2013

A Fraser Institute survey shows how miners and explorers see the world they work in

by Greg Klein

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“Great mineral assets, highly corrupt government….” That’s sometimes the conundrum under which exploration and mining companies operate. And that was just one comment published by the Fraser Institute as it evaluated a world of challenges and opportunities in its annual Survey of Mining Companies released on February 28.

Between October 2012 and January 2013, 742 companies rated 96 jurisdictions which included countries and, in the case of Canada, Australia, the U.S. and Argentina, provinces, states and territories. Respondents considered 15 policy factors affecting investment decisions in those jurisdictions, for a possible maximum score of 100. Some factors included regulations, corruption, taxation, aboriginal land claims, infrastructure, the local workforce, political stability and physical security.

While the full report provides breakdowns by category, here are the top 10 jurisdictions for overall scores. The 2011-to-2012 rankings are in parentheses.

A Fraser Institute survey shows how miners and explorers see the world they work in

The Fraser Institute’s annual survey rates jurisdictional risk
for a number of factors concerning mining and exploration.

1. Finland (New Brunswick)
2. Sweden (Finland)
3. Alberta (Alberta)
4. New Brunswick (Wyoming)
5. Wyoming (Quebec)
6. Ireland (Saskatchewan)
7. Nevada (Sweden)
8. Yukon (Nevada)
9. Utah (Ireland)
10. Norway (Yukon)

Last but least, here are the bottom 10:

87. Greece (Vietnam)
88. Philippines (Indonesia)
89. Guatemala (Ecuador)
90. Bolivia (Kyrgyzstan)
91. Zimbabwe (Philippines)
92. Kyrgyzstan (India)
93. Democratic Republic of the Congo (Venezuela)
94. Venezuela (Bolivia)
95. Vietnam (Guatemala)
96. Indonesia (Honduras)

Utah and Norway knocked Saskatchewan and Quebec out of the top 10. Greece was added to the survey for the first time, only to join Zimbabwe and the Democratic Republic of the Congo for their bottom 10 debut. Another first-timer, French Guiana placed 27th overall, a fairly impressive ranking for a newcomer and non-First-World country.

Crisis-torn South Africa dropped to 64th place overall compared to 54th last year, retaining its fourth-from-last spot for “labour regulations, employment agreements and labour militancy or work disruptions.”

Of Canadian jurisdictions, Nunavut ranked worst at number 37.

Some anonymous concerns listed under “horror stories” ranged from uncertainty about native rights in Ontario to potential corruption in Quebec. One response stated that “endless ‘community consultation’” in the Northwest Territories costs the company more than exploration. Others noted confiscation of mining rights in Indonesia and expropriation in Bolivia.

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To Africa and back

January 2nd, 2013

Wesdome, African Queen and SLAM release gold results from Quebec, Kenya and New Brunswick

by Greg Klein

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Wesdome Gold Mines TSX:WDO began the New Year by releasing gold assays from its Kiena Mine in Val-d’Or, Quebec. The company stated that underground exploration drilling demonstrates continuity of the mine’s S-50 (South Zone) mineralized system southeast and at depth.

Intercepts were provided as estimated true widths. Grades were cut to 34.28 grams per tonne. Highlights include:

  • 8.6 grams per tonne gold over 7.3 metres
  • 3.38 g/t over 10.7 metres
  • (including 6.61 g/t over 2.2 metres)
  • 3.82 g/t over 8.78 metres
  • 34.28 g/t over 0.85 metres
  • 3.72 g/t over 6.75 metres
  • 2.83 g/t over 5.42 metres
  • 11.4 g/t over 1.07 metres
  • 8.86 g/t over 1.53 metres.
Wesdome’s Kiena Complex produced an estimated 20,000 gold ounces in 2012.

Wesdome’s Kiena Complex produced
an estimated 20,000 gold ounces in 2012.

One of Wesdome’s three operating gold mines, Kiena’s 2012 production is estimated at 20,000 ounces. The company expects another 20,000 ounces from its Eagle River operation and 10,000 ounces from the Mishi open pit, both near Wawa in central Ontario. As of December, Wesdome’s year-to-date cash flow was $10.5 million.

Wesdome opened January 2 at $0.87, two cents above the previous close. The stock nudged a day’s high of $0.90 before returning to an 87-cent close.

More January 2 gold results came from African Queen Mines’ TSXV:AQ Odundu Property, part of its Rongo Gold Fields Project in Kenya. The company stated that initial drill and trenching results indicate extensive, low-grade near-surface mineralization.

True widths weren’t provided for the drill results. One intercept began at a down-hole depth of 27 metres, while the furthest stopped at 171 metres. Drill assays include:

  • 1.03 grams per tonne gold over 26.35 metres

  • (including 5.27 g/t over 0.6 metres)
  • (including 2.87 g/t over 2.87 metres)
  • 1.17 g/t over 12 metres
  • (including 2.97 g/t over 2 metres)
  • 1.08 g/t over 11 metres
  • (including 5.96 g/t over 0.6 metres)
  • 0.89 g/t over 10 metres
  • 1.45 g/t over 5.16 metres
  • (including 3.21 g/t over 0.8 metres)
  • (including 2.31 g/t over 0.93 metres).

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El Nino reports NB Assays: 54 g/t Silver, 0.24 g/t Gold, 1.35% Lead, 4.27% Zinc over 81m

August 14th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEl Nino Ventures Inc TSXV:ELN announced results from the Murray Brook Deposit in the Bathurst Mining Camp in New Brunswick. Results include

24.9 grams per tonne silver, 0.115 g/t gold, 2.6% copper, 0.24% lead, 1.81% zinc over 12.3 metres
9.4 g/t silver, 0.018 g/t gold, 1.92% copper, 0.06% lead, 0.18% zinc over 15.7 metres
19.8 g/t silver, 0.209 g/t gold, 0.8% copper, 0.13% lead, 1.22% zinc over 36.9 metres
54 g/t silver, 0.237 g/t gold, 0.23% copper, 1.35% lead, 4.27% zinc over 81 metres
(including 114.8 g/t silver, 0.278 g/t gold, 0.8% copper, 2.55% lead, 7.39% zinc over 10 metres)
56.7 g/t silver, 0.327 g/t gold, 0.18% copper, 1.08% lead, 4.22% zinc over 9metres
38.5 g/t silver, 0.379 g/t gold, 0.55% copper, 0.89% lead, 3.65% zinc over 71.5 metres
87.6 g/t silver, 0.441 g/t gold, 2.41% copper, 2.13% lead, 7.1% zinc over 11.5 metres
20.3g/t silver, 0.441 g/t gold, 1.05% copper, 0.3% lead, 0.82% zinc over 22.4 metres

Votorantim Metals Canada Inc is the operator of the Murray Brook Project. Under Votorantim’s option and joint-venture agreement with Murray Brook Minerals and Murray Brook Resources, both privately held companies, Votorantim would earn a 50% interest in the properties by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three-year period that commenced November 1, 2010. Votorantim can earn an additional 20% interest in the properties by funding an additional $2,250,000 in exploration expenditures over an additional two-year period. El Nino has elected to enter into a participation agreement wherein it can earn 50% of Votorantim’s interest by paying 50% of the costs incurred by Votorantim in the option and joint-venture agreement. On May 10, 2012 El Nino announced that Murray Brook Minerals Inc has been given formal notice by El Nino and Votorantim of a 50% earned interest in the Murray Brook Project. Murray Brook Minerals has also been provided with a valid notice that El Nino and Votorantim are exercising their option to acquire and become owner of an additional 20% (for a total of 70%) interest in the Murray Brook claims.

View Company Profile

El Nino Ventures Inc
604.685.1870

by Kevin Michael Grace

El Niño reports NB Assays up to 55.5 g/t Silver, 1.14 g/t Gold, 2.42% Zinc over 89.1m

July 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningEl Niño Ventures Inc TSXV:ELN announced results from the Murray Brook Deposit in the Bathurst Mining Camp in New Brunswick. Results include

46.5 grams per tonne silver, 0.324 g/t gold, 0.53% copper, 0.98% lead and 3.45% zinc over 79.5 metres
49.2 g/t silver, 0.45 g/t gold, 0.16% copper, 1.33% lead and 3.83% zinc over 146 metres
51.9 g/t silver, 0.525 g/t gold, 0.1% copper, 1.63% lead and 4.12% zinc over 15.5 metres
22.4 g/t silver, 0.211 g/t gold, 0.59% copper, 0.24% lead and 1.55% zinc over 52 metres
42.8 g/t silver, 0.906 g/t gold, 0.35% copper, 0.81% lead and 1.63% zinc over 66.6 metres
69.8 g/t silver, 0.521 g/t gold, 0.15% copper, 1.82% lead and 4.62% zinc over 84.6 metres
(including 126 g/t silver, 1.396 g/t gold, 0.29% copper, 4.11% lead and 10.34% zinc over 13 metres)
12 g/t silver, 0.115 g/t gold, 4.11% copper, 0.03% lead and 0.12 % zinc over 19 metres
18.5 g/t silver, 0.122 g/t gold, 3.4% copper, 0.08% lead and 0.51% zinc over 15 metres
55.5 g/t silver, 1.141 g/t gold, 0.43% copper, 1.12% lead and 2.42% zinc over 89.1 metres

Votorantim Metals Canada Inc is the operator of the Murray Brook Project. Under Votorantim’s option and joint-venture agreement with Murray Brook Minerals and Murray Brook Resources, both privately held companies, Votorantim would earn a 50% interest in the properties by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three-year period that commenced November 1, 2010. Votorantim can earn an additional 20% interest in the properties by funding an additional $2,250,000 in exploration expenditures over an additional two-year period. El Niño has elected to enter into a participation agreement wherein it can earn 50% of Votorantim’s interest by paying 50% of the costs incurred by Votorantim in the option and joint-venture agreement. On May 10, 2012 El Niño announced that Murray Brook Minerals Inc has been given formal notice by El Niño and Votorantim of a 50% earned interest in the Murray Brook Project. Murray Brook Minerals has also been provided with a valid notice that El Niño and Votorantim are exercising their option to acquire and become owner of an additional 20% (for a total of 70%) interest in the Murray Brook claims.

View Company Profile

El Niño Ventures Inc
604.685.1870

by Kevin Michael Grace