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Posts tagged ‘north carolina’

Under the rainbows

February 5th, 2013

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

by Greg Klein

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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.

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Revolution reports NC Gold Assays as high as 1.34 g/t over 32m

January 24th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningRevolution Resources Corp TSX:RV announced results from the Loflin and Jones-Keystone deposits of its Champion Hills project in North Carolina. Assays include

1.04 g/t gold over 17.5 metres
1.34 g/t over 32 metres
1.05 g/t over 29 metres
1.83 g/t over 8.7 metres
1.23 g/t over 10.3 metres
1.12 g/t over 30.7 metres
0.55 g/t over 73.7 metres
1.36 g/t over 15.2 metres
1.11 g/t over 14.2 metres
1.11 g/t over 34.5 metres

President/CEO Aaron Keay stated, “Given our close proximity to infrastructure and continued success intercepting mineralization close to surface at both Loflin and Jones-Keystone, we feel that it is important to begin looking at economic factors that will determine the viability of Champion Hills. In addition to the NI 43-101 report, we intend to begin base line economic studies at Loflin and Jones-Keystone.”

View Company Profile

Contact:
Aaron Keay
President/CEO
604.678.4024

or Dylan Berg
Manager, Investor Relations
604.681.5672

by Ted Niles

Revolution reports North Carolina Gold Assays up to 1.27 g/t over 104m

April 14th, 2011

Revolution Resources Corp TSX:RV announced results from the Jones-Keystone Mine of its Champion Hills Project in North Carolina. Assays include 1.56 g/t gold over 54 metres (including 9.16 g/t over 2 metres), 0.63 g/t over 22 metres, 0.61 g/t over 40 metres, 0.6 g/t over 24 metres, 1.27 g/t over 104 metres (including 2.33 g/t over 40 metres), 0.63 g/t over 22 metres, 0.78 g/t over 38 metres, 1.53 g/t over 10 metres, 0.96 g/t over 26 metres, 1.49 g/t over 8 metres and 0.84 g/t over 24 metres (including 1.01 g/t over 18 metres).

The Champion Hills Project is located in the Carolina Slate Belt which hosts gold mines such as the Ridgeway Mine and Romarco Minerals’ Haile Gold Mine.

View Company Profile

Contact:
Aaron Keay
President/CEO
604.678.4024

or Dylan Berg
Manager, Investor Relations
604.681.5672

by Ted Niles