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Posts tagged ‘SilverCrest Mines Inc (SVL)’

Not today, thank you

November 27th, 2012

Investors remain aloof despite news from gold and silver producers

by Greg Klein

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Encouraging drill results and profitable production aren’t always enough to impress investors, as Claude Resources TSX:CRJ and SilverCrest Mines TSXV:SVL saw on November 27. Claude’s Saskatchewan gold assays and SilverCrest’s Mexican silver-gold-copper results each brought a slight but perceptible stock pullback.

Claude’s November 27 results came from its Santoy Gap deposit on the Seabee Gold Project, which includes two operating mines, Seabee and Santoy 8, in the La Ronge mining district of northeastern Saskatchewan. The assays show:

  • 8.16 grams per tonne gold over 5.93 metres
  • 5.07 g/t over 6 metres
  • 3.51 g/t over 4.53 metres
  • 5.03 g/t over 1.58 metres
  • 4.68 g/t over 1.41 metres
News from gold and silver producers

Claude Resources’ Seabee Gold Project in northeastern Saskatchewan features two operating mines as well as resource expansion.

True widths are estimated between 75% and 95%. A 3 g/t lower cutoff was applied, but no top cut. The deepest interval stopped at 649 metres’ depth.

These three holes extend the Santoy Gap mineralized system down dip and along strike toward Santoy 8, suggesting possible continuity, the company stated.

Results from this year’s 71-hole, 35,100-metre program will be used to update Santoy Gap’s December 2011 resource estimate, which sits at 2.32 million tonnes averaging 6.63 g/t for 495,000 ounces gold. The resource update, as well as an updated life-of-mine plan, comes due by year-end. Claude is now building an 850-metre-long exploration drift for further drilling.

The 14,400-hectare Seabee Gold Project’s five deposits come to:

  • proven and probable reserves totalling 2.1 million tonnes with an average 5.37 g/t for 355,600 gold ounces
  • indicated resources totalling 410,900 tonnes with an average 5.35 g/t for 70,700 ounces
  • inferred resources totalling 4.19 million tonnes with an average 6.48 g/t for 873,400 ounces.

In Ontario’s Red Lake mining camp, Claude’s 4,000-hectare Madsen gold project includes four past-producing mines, along with some modern infrastructure intact. The high-grade estimate for Madsen’s four zones shows:

  • indicated resources totalling 3.24 million tonnes averaging 8.93 g/t gold for 928,000 ounces gold
  • inferred resources totalling 788,000 tonnes averaging 11.74 g/t for 297,000 ounces.

A 16-hole, 19,100-metre program using one surface and two underground rigs wrapped up in September. The company plans further drilling, along with a PEA study, next year. Infrastructure includes a permitted tailings facility, 500 tpd mill and a 1,250-metre shaft.

Claude’s other northeastern Saskatchewan project, the 40,373-hectare Amisk Lake property, comes with resources that show:

  • an indicated category of 30 million tonnes averaging 0.85 g/t gold and 6.17 g/t silver for 827,000 ounces gold and 5.98 million ounces silver
  • an inferred category of 28.65 million tonnes averaging 0.64 g/t gold and 4.01 g/t silver for 589,000 ounces gold and 3.7 million ounces silver.

Amisk is slated for a resource update and PEA to be released next year.

Seabee’s November 27 drill results followed closely on Claude’s Q3 report, which announced a net profit of $3 million or $0.02 a share and 15,073 ounces of gold production with cash costs of $920 an ounce. The company projects increasing production and decreasing costs reaching an estimated 90,000 ounces annually at about $800 an ounce by 2017.

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Sandstorm announces $130M Bought-Deal Financing

August 23rd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSandstorm Gold Ltd TSXV:SSL announced it has increased its previously announced bought-deal financing from C$75 million to C$130 million. Lead underwriter Cormark Securities Inc along with National Bank Financial Inc, Paradigm Capital Inc, BMO Capital Markets Inc, Casimir Capital Ltd, Canaccord Genuity Corp and TD Securities Inc have agreed to buy, on a bought deal basis, 13,050,000 units at C$10 for gross proceeds of approximately C$130 million. Sandstorm has granted to the underwriters an option to buy up to an additional 15% of the number of units. If that option is wholly exercised, the aggregate gross proceeds will be approximately C$150 million. Each unit consists of one common share of Sandstorm and one-third of one common share purchase warrant, which will entitle the holder to acquire one common share of Sandstorm at a price of US$14 up to five years following completion of the offering.

Sandstorm provides upfront financing for gold-mining companies seeking capital in return for agreements giving it the right to buy percentages of life-of-mine gold produced at fixed prices. Sandstorm has completed gold purchase or royalty agreements with Luna Gold Corp TSXV:LGC, SilverCrest Mines Inc TSXV:SVL, Rambler Metals and Mining plc TSXV:RAB, Brigus Gold Corp TSX:BRD, Metanor Resources Inc TSXV:MTO, Donner Metals Ltd TSXV:DON, Magellan Minerals Ltd TSXV:MNM, Solitario Exploration & Royalty Corp TSX:SLR and Ely Gold & Minerals Inc TSXV:ELY. The net proceeds of the offering will be used for general corporate purposes including potential future purchases of precious-metal streams and working capital.

View Company Profile

Nolan Watson
President/CEO
604.689.0234

by Kevin Michael Grace

SilverCrest reports Mex Results of 23.5 g/t Silver, 0.11 g/t Gold, 0.17% Copper over 115m

May 7th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSilverCrest Mines Inc TSXV:SVL announced results from its La Joya Property in Durango State, Mexico. Highlights include

23.5 g/t silver, 0.11 g/t gold and 0.17% copper over 115 metres
(including 97.4 g/t silver, 0.07 g/t gold and 0.67% copper over 6.7 metres)
20.3 g/t silver, 0.64 g/t gold and 0.16% copper over 127.4 metres
(including 255.7 g/t silver, 0.72 g/t gold and 1.91% copper over 4.2 metres)
32.2 g/t silver, 0.28 g/t gold and 0.2% copper over 78.3 metres
(including 43.8 g/t silver, 0.62 g/t gold and 0.25% copper over 35 metres)
17.2 g/t silver, 0.08 g/t gold and 0.3% copper over 35.5 metres
(including 46.7 g/t silver, 0.09 g/t gold and 1.14% copper over 5.2 metres)
34.2 g/t silver, 0.32 g/t gold and 0.23% copper over 46.9 metres
(including 36.5 g/t silver, 0.7 g/t gold and 0.24% copper over 16.7 metres)

President J. Scott Drever commented, “In January we announced an initial inferred resource in a portion of the trend of 57.9 million tonnes grading 28 grams per tonne silver, 0.18 grams per tonne gold and 0.21% copper and containing 101.9 million ounces silver equivalent. We have since drilled 23 holes as a part of the second phase of drilling that have successfully expanded mineralization in all lateral directions with the possible expansion of the resource along the trend. We have begun to drill the area to the southeast of the declared resource which, based on previous historic drilling and our surface sampling results, is expected to host the most attractive mineralized portion of the trend.”

View Company Profile

Contact:
Fred Cooper
604.694.1730 x 108
866.691.1730

by Greg Klein

SilverCrest reports Mexico Assays as high as 64.2 g/t Silver over 58m

March 20th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSilverCrest Mines Inc TSXV:SVL announced assay results from its La Joya property in Durango State, Mexico. Highlights include

3.57 g/t gold and 8.5 g/t silver over 3 metres
0.84 g/t gold, 0.39% copper and 20.6 g/t silver over 32.3 metres
1.14% copper and 74.9 g/t silver over 4.5 metres
43.4 g/t silver over 51.3 metres
26.3 g/t silver over 74.5 metres (including 94.1 g/t silver over 12.6 metres)
1.13 g/t gold and 25.4 g/t silver over 4 metres
40.2 g/t silver over 9 metres
43.3 g/t silver over 12.1 metres
0.49 g/t gold, 0.88% copper and 64.2 g/t silver over 58 metres
(including 0.37 g/t gold, 2.12% copper and 153.5 g/t silver over 22.8 metres)

President J. Scott Drever stated, “In January we announced an initial inferred resource on a portion of the trend of 57.9 million tonnes grading 28 g/t silver, 0.18 g/t gold and 0.21% copper and containing 101.9 million ounces silver equivalent. A portion of the Phase II drilling is intended to explore the possible expansion of this resource estimate to the northwest as well as the southeast along the trend and infill some of the wider spaced drill holes within the resource area. The remainder of the program will test three targets adjacent to the trend which have been shown by historical drilling and sampling to host significant silver, copper, gold, tungsten, and molybdenum mineralization.”

View Company Profile

Contact:
Fred Cooper
Investor Relations
604.694.1730 x 108

by Ted Niles

SilverCrest reports Mex Resource of 51.3M oz Silver, 333K oz Gold, 270.3M oz Copper

January 6th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningSilverCrest Mines Inc TSXV:SVL announced an initial resource estimate for La Joya Property in Durango, Mexico. Using a cutoff of 15 g/t silver equivalent, the inferred resource is estimated at 57.9 million tonnes grading 28 g/t silver, 0.18 g/t gold and 0.21% copper for 51.3 million ounces silver, 333,400 ounces gold and 270.3 million pounds copper, or a total of 101.9 million ounces silver equivalent. Silver equivalency is based on prices of $24 per ounce silver, $1,200 per ounce gold and $3 per pound copper.

Using a cutoff of 30 g/t silver equivalent, the inferred resource is estimated at 35.5 million tonnes grading 39 g/t silver, 0.22 g/t gold and 0.30% copper for 44.3 million ounces silver, 246,000 ounces gold and 237.5 million pounds copper, or a total of 86.4 million ounces silver equivalent.

The estimate is based on phase I drilling and sampling of the Main Mineralized Trend, which has a 2.5-kilometre length and a 500-metre average minimum width. Phase II drilling is underway.

View Company Profile

Contact:
Fred Cooper
604.694.1730 x 108
866.691.1730

by Greg Klein

SilverCrest reports Mexico Silver Assays up to 156.5 g/t over 19.2m

March 7th, 2011

SilverCrest Mines Inc TSXV:SVL announced results from its La Joya Property near Durango, Mexico. Assays include 75.3 g/t silver over 15.2 metres (including 382 g/t over 1 metre), 91.8 g/t over 7.3 metres, 126.7 g/t over 12.1 metres (including 376.7 g/t over 3.1 metres), 192.3 g/t over 6.8 metres, 156.5 g/t over 19.2 metres (including 241.4 g/t over 9.8 metres), 101.8 g/t over 8 metres (including 412 g/t over 1.3 metres) and 90.5 g/t over 19.2 metres (including 259.4 g/t over 3.6 metres).

Surface mapping and sampling by SilverCrest, as well as previous drill results, suggest that the geology and mineralization of the La Joya Property is similar to the nearby San Martin Mine, considered historically to be one of the largest polymetallic producers in Mexico. A second drill rig has been mobilized to accelerate the Phase I exploration program.

View Company Profile

Contact:
Fred Cooper
604.694.1730 x 108

by Ted Niles