Yukon!! es faengt an!!
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Posted: Nov 05 2010 By: Jim Sinclair Post Edited: November 5, 2010 at 6:21 pm
Filed under: General Editorial
Dear CIGAs,
I agree with Armstrong and our own Eric on the primary direction of equities for no good fundamental reason whatsoever.
It is endemic to currency induced cost push inflation even if Armstrong sees different reasons.
I am a buyer of calls on equities, near the money, 90 days out at least, on downdrafts. I am a buyer of puts on the long 30 year bonds on 2 point jumps. I will cover the long bond puts on the fall, and reinstate on the rise. I will do the opposite on the equity calls.
QE will deliver both. Since QE is not being used on 30 year bonds it will offer the rises for buying puts, and pay off on the falls, chopping sideways to lower with only the short end holding them from a wide open break.
Click image to open Armstrong?s latest in PDF format
http://jsmineset.com/
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Since the sale of the oil and gas assets on August 31, 2010, Fortress has been active in pursuing a potential transaction that will result in recognizing value for the cash surplus, working capital, shares of Terra, the remaining oil and gas assets at Pine Creek and Buick Creek, the shares held of biotechnology companies, Alethia Biotheraputics Inc. and Paloma Pharmaceuticals Inc., and the $55 million of unused tax pools. This process will continue into the fourth quarter of 2010. The remaining assets are more fully described in the presention provided to shareholders at the AGM and can be found on the Fortress web site at:http://www.fortressenergy.ca/
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Also News Release (C-GUY) Guyana Goldfields Inc
Ms. Jennifer Boyle of Takara reports
TAKARA AND GUYANA GOLDFIELDS SUBSIDIARY BECOME JOINT VENTURE PARTNERS ON THE BRL/ARAKAKA PROJECT IN GUYANA
Aranka Gold Inc., a wholly owned subsidiary of Guyana Goldfields Inc., has become Takara Resources Inc.'s joint venture partner on the BRL venture (now named the Arakaka joint venture) in Guyana, South America. Aranka recently purchased all of the interests in the Arakaka joint venture held by Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation.
The property portfolio comprising the Arakaka joint venture is subject to various underlying agreements, and is situated in the North West mining district of Guyana, in proximity to Takara's 100-per-cent-held Tassawini gold project. To date, the Arakaka joint venture has had approximately $16-million incurred in exploration expenditures by the former operators.
It is anticipated that an exploration program and budget will be proposed prior to the end of 2010, with a view to commencing activities early in 2011. Takara will then determine to finance its pro rata 29.90-per-cent interest or have its interest diluted.
The Arakaka joint venture continues to be governed by the underlying joint venture agreement of Sept. 27, 2005, which provides, among other things, a maximum $2-million on proposed programs and budgets, as well as the right for either party to define a specific project area for concentrated development -- whereby if specified, Aranka has the right to increase its interest by financing to feasibility (10 per cent) and financing to commercial production (10 per cent) on the specific project area. The agreement further provides that if either party's interest is reduced to less than 15 per cent, such interest converts to a 5.0-per-cent net profit interest.
We seek Safe Harbor.
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MORNING NOTES 2 OF 4 11/24/2010
http://www.discoveryinvesting.com/uploads/...day_November_24_2010.pdf
prolific gold producers in the world. Seven (7) million ounces of lode gold and 80,000 ounces of placer gold were produced historically in the Juneau District. So it is fair to echo our old friend Ralph Rooney who said that you are likely to ?find a mine where there has been a mine.?
The Herbert Glacier property was first drilled in the 1980s by Tenneco and Echo Bay who reported ounce to multi-ounce gold intervals in the single vein drilled. In today's report released by Grande Portage there was a 1.14 m intercept of half an ounce of gold in hole 10-C and several other very significant intercepts. In the initial GPG release on October 22, 2010 the company revealed that they had discovered new veins and encountered 8 intersections carrying significant gold. Highlights of the October release included hole 10 B-2 which intersected 3.27 g per ton of gold from the surface (27 m) over 2 m grading. More interesting to me was the fact that several new systems were discovered in this drilling program. Dr. Charles Hawley a consulting geologist on site commented on this aspect of the results:
?Herbert Glacier is more than a series of gold enriched quartz veins, it is potentially a mining district."
Dr. Hawley is considered an expert on gold etal deposits in Alaska. He spent most of his professional life in Alaska (since 1969) where he developed his expertise. He has written a book on the Golden Zone that is a must-read on the history of Alaskan gold discovery ("Wesley Earl Dunkle: Alaska's Flying Miner.").
He believes that Herbert?s Main vein is still relatively unexplored. The Main vein runs to the West where the exploration team has consistently found free gold quartz in outcrop. Two additional and unexplored veins, the North and Goat Creek, appear to be as strong as those of the Main and Deep Trench veins that have been drilled.
Today's results from the JV?s fall drill program are:
Drill hole From To Interval (m) Assay (gpt) Structure
10C-1 89.0 89.86 0.86 6.17 new vein
10C-1 119.29 119.76 0.47 2.67 Main vein
10C-1 119.29 120.90 1.61 12.9 Main vein
(Incl): 119.76 120.90 1.14 17.1 Main vein
10C-1 132.89 134.49 1.60 1.32 new vein
10D-2 134.49 135.64 1.15 6.55 Main vein
10D-2 132.89 137.01 4.12 3.10 Main vein
(Incl): 135.64 137.01 1.37 2.37 Main vein
10E-1 51.21 51.73 0.52 6.42 new vein
10E-1 80.64 81.15 0.51 8.51 (near) Deep Trench
10A-7 54.15 54.86 0.71 11.35 Ridge vein
MORNING NOTES 3 OF 4 11/24/2010
As you can see there's a significant amount of testing to be done. One aspect that always holds true in our experience is that when things start to get better with the drill they get much better. We expect this of the next drilling program that the joint venture (51% Grande Portage, 49% Quaterra Resources) runs. By spending an additional $300,000 Grande Portage 40 can achieve a 65% ownership position in the project. Following that expenditure the two companies will go head-to-head in financing exploration and development of what we think would has the possibility of being a new gold district in an old gold camp, the Juneau gold camp.
The Herbert veins now discovered and identified include the Main, Deep Trench, Ridge, North and Goat Creek. The system is also known as a silver producer and there have been significant showings of tungsten in these drill results as well. It is not only the high grade results that we find so appealing in this release, it is also the fact that as drilling continues several new veins have been discovered. This is the essence of Discovery Investing.
For Grande Portage this is a significant discovery. We think it puts the company on its way. GPG stock is currently selling for $.17. For Quaterra Resources it's another example of the monetization process underway within QMM?s project pipeline that is now in full swing managed by CEO Tom Patton. Of major significance in the longer term, is that there are two major mining companies within a few miles of the Herbert Glacier discovery. This discovery now seems to be increasing in tonnage and grade with each turn of the drill.
Ian Klassen CEO Grande Portage Resources said,
?We are very pleased with the success of our recent drill program at the Herbert Glacier. ? this is a large mesothermal quartz vein system known for its continuity and structural integrity. The drilling from this fall demonstrates how pervasive the area really is. Historically, this is a significant gold rich producing region. Recently, there has been an influx of new activity and our neighbors to the north at the Kensington have now opened
MORNING NOTES 4 OF 4 11/24/2010
their gold mine. We look forward to continued exploration at the Herbert Glacier with our partners at Quaterra Resources.?
I own shares of both Grande Portage and Quaterra Resources. I reserve the right to purchase shares in both companies without further notice.
.Appendix 1: Drill Results from Tenneco and Echo Bay 1986 to 1988
Drill holes are listed below in order west to east over about 2000 feet strike length. All intercepts>1-ft of 0.3 oz/ton Au are shown. The data is from reports by George A. Moerlein for Tenneco Minerals (1986) and Echo Bay Mining Co (1988).
From (ft) To (ft) Interval oz/ton Au H-9 88.0 89.2 1.2 0.38 H-6 190.0 191.0 1.0 3.85 H-5 165.5 168.1 2.6 0.93 H-2 147.0 149.0 2.0 0.99 H-1 78.0 84.0 6.0 0.93 H-13 286.5 300.5 14.0 0.98 Includes 296.8 297.8 1.0 12.64 H-12 160.4 162.0 1.6 0.31 H-12 165.5 168.4 2.9 0.31
The material herein is for informational purposes only and is not intended to and does not constitute the rendering of investment advice or the solicitation of an offer to buy securities. The foregoing discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The Act). In particular when used in the preceding discussion the words ?plan,? confident that, believe, scheduled, expect, or intend to, and similar conditional expressions are intended to identify forward-looking statements subject to the safe harbor created by the ACT. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward looking statements. Such risks and uncertainties include, but are not limited to future events and financial performance of the company which are inherently uncertain and actual events and / or results may differ materially. In addition Dr. Berry may review investments that are not registered in the U.S. Dr. Berry owns shares and in Goldcorp, Senesco Technologies, Grande Portage, Horseshoe Gold, Derek Oil and Gas, Terraco Gold, Revett Minerals, GMV Minerals, Geologix, Neuralstem, Piedmont Mining, MegaWest Energy, CGX Energy, Talison Lithium and Quaterra Resources. We cannot attest to nor certify the correctness of any information in this note. Please consult your financial advisor and perform your own due diligence
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NORTHERN TIGER RES. (V-NTR) $0.345 -0.045
There are a lot of plays in the Yukon and there?s the big
suggestion out there that it?s going to be the center of gold
exploration for the world maybe next year. Shades of the
rush of trail of 98 all over again.
Northern Tiger came out with some drilling results that
weren't? quite what was expected. The Coffin Brothers
writes in the Hard Rock Analyst, ?NTR released the highly
anticipated results from the Sleeping Giant zone at its 3Ace
project this morning. They are not providing much Thanksgiving
cheer. The drill results were generally low grade,
though five of six holes did have gold intersections, including
11.9 metres grading 1.5 g/t gold and 6.5 metres grading
1.35 g/t gold in hole 4. The longer intersection is a new
zone that was not seen on surface. While these results are
obviously disappointing it?s important to remember they
follow results that had already confirmed a discovery and
that the exploration process at 3Ace and its region is still
in its early stages.
The 3Ace project has already drawn attention to a new
area and new style of gold occurrence in the Yukon.
Yukon?s annual Geoscience Forum in Whitehorse has just
wrapped up, and David was surprised by the high level of
interest in 3Ace and the regional potential it suggests. Regional
studies suggest it fits comfortably into the evolving
regional picture for gold deposit development as an extension
of the areas further north in which substantial gold
deposits have already been developed. NTR is the lead in
what will be a substantial group of companies working this
trend next season. Given the timing of these results and
the fact they are the last drill holes of the season the market
is selling down below the company?s potential. The
pullback can either be traded or viewed as a buying opportunity
for gold price gains and next season?s work program.?
Having been to the Hard Assets conference in San Francisco
where the mining bugs all gather. There?s talk that
there are now as much as 150 different public companies
with chunks of land in the Yukon.
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KAMINAK GOLD (V-KAM) $2.79 +0.09
If you?ve been following the ATAC Resources/Kaminak Gold
ongoing results, you understand why there is so much excitement
in the Yukon these days. But if you?ve been following
the Coffin Brothers and the Hard Rock Analyst, they have
pointed out frequently that ATAC was sporting an awfully
high market capitalization for very little drilling results.
In yesterday?s Hard Rock Analyst, the Coffin Brothers
write, ?ATAC Resources has released the long anticipated
results from testing at its Osiris discovery in east central
Yukon. The discovery hole and until today only drill result
from the project cut 31 m of 9.26 g/t gold within an altered
intersection of roughly twice that length. That result, a scale
description of this target and high-grade surface results from
a number of other targets have sustained the company?s
jump from a $200 million value in late August to the current
$700 million. These holes had to show both strong grade and
scale potential to sustain that level of market cap, which is
why we have several times suggest lightening positions in
the stock.?
The Coffin?s continue, ?The six drill holes testing the original
Osiris target have returned a number decent results with
broader sections in the 2-3 g/t range plus one deeper intersection
at 8.4 g/t over 7.2 metres, cored on somewhat higher
grade material in the 5 g/t range. New intersection lengths
include 35, 22 and 16 metres, plus the already noted 7 metre
section. The drillholes confirm potential over a 300 metre
stretch of the host limestone, but there isn?t enough detail to
properly suggest the local scope of that potential or what
internal mechanisms are focusing the gold deposition. At this
grade range that?s important information. However, single
hole tests at two other target areas also returned solid results.?
The Coffin?s continue, ?However, the company?s big market
cap has been based on assumption of an exceptional potential
that would have taken a stronger set of gram-metre
combinations to maintain. We certainly don?t underestimate
the value of a bona fide Carlin style system but we also realize
there are a large number of $1.80 shares that free up in a
week and can be traded against now. If you followed our prior
opinion your holding cost should already be low or negative.
If you didn?t, you can still trade with that goal in mind and
wait out the winter on this exciting play in comfort with a
cheap position.?
A touch of reality hits the Yukon gold plays?!
ATAC Resources
Kaminak Gold
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2010-12-01 06:29 PT - News Release
Also News Release (C-PV) Providence Capital Corp
Mr. Tim Termuende of Eagle Plains reports
EAGLE PLAINS/PROVIDENCE CAPITAL PROVIDE UPDATE ON DRILL PROGRAM AT IRON RANGE PROJECT, SOUTHEASTERN BC
Eagle Plains Resources Ltd. and Providence Capital Corp. have now completed 10 diamond drill holes for a total footage of 10,945 feet (3,337 metres). Drilling activity has been suspended pending receipt of analytical results, but is expected to resume following the Christmas holidays. The partners continue to test the stratigraphic interval known to host the Sullivan deposit, located 70 kilometres to the north. Current work is targeting both precious metal and base metal mineralization, and is financed by Providence Capital under terms of an option agreement.
The partners are encouraged by observations made to date of existing drill cores. Hole IR10-05 encountered wide, intermittent intervals from surface to a depth of 278 metres containing breccia textures and intensive silica and albite alteration. Associated sulphide mineralization includes iron sulphides and arsenopyrite (a mineral often associated with gold). Intervals 148.0 metres to 163.0 m (15.0 m) and 270.0 m to 278.0 m (8.0 m) were particularly enriched with lead-zinc sulphide mineralization. Hole IR10-07 returned similarly altered and mineralized material from 142.0 m to 155.0 m. Hole IR10-10 hosted the most intensely altered and mineralized material, with semi-massive to massive sulphide mineralization including galena (lead) and sphalerite (zinc) reported over two intervals from 191.0 m to 202.0 m and from 276.0 m to 279.0 m. The lower massive sulphide interval is overlain by a 55 m zone of disseminated to net-textured mineralization within intensely altered rock. The base of the lowermost massive sulphide appears to be truncated by a fault. Significant in the lower interval was the location of the massive sulphide mineralization, which is interpreted to be at or near the Lower-Middle Aldridge contact, the stratigraphic horizon which hosts the Sullivan deposit. The hole was terminated in rocks interpreted to be of the Lower Aldridge formation.
A portion of the altered material from hole IR10-05 was sent for rush assay analysis in order to confirm the presence of suspected gold mineralization. The interval from 62.5 m to 89.5 m returned 0.64 gram per tonne over 27 m
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Vena's Macusani at 8.31 million pounds U3O8 indicated
2010-11-29 03:32 PT - News Release
Mr. Juan Vegarra reports
VENA FILES NI 43-101 REPORT FOR MACUSANI URANIUM PROJECT IN PERU
Vena Resources Inc. has completed an independent National Instrument 43-101-compliant resource estimate for its Macusani uranium project, located in Peru. The estimate will be filed on SEDAR and on the company's website today. Henkle and Associates has completed its first resource estimate for Minergia SAC, a uranium exploration company owned by Vena (75 per cent) and Cameco Corp. (25 per cent). It should be noted that the NI 43-101-compliant resource estimate only encompasses five of the nine properties in the Macusani region. Minergia also owns uranium properties in the Munani region where work is continuing.
The current resource numbers are based on 25,187 metres of diamond drilling in 158 drill holes performed over four years covering a small portion of the prospective target areas and indicates an overall resource estimate for the Macusani region of 8,316,818 pounds of indicated resources and 14,211,857 pounds of inferred resources at a 0.18-pound-per-ton cut-off and 7,618,216 pounds of indicated resources and 13,172,202 pounds of inferred resources at a 0.36-pound-per-ton cut-off as outlined in the associated table. A new drill program is expected to begin mid-January, 2011, intended to increase resources at Tantamaco and Isivilla.
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2010-11-04 11:07 PT - News Release
Mr. Thomas Coffman reports
VECTA ENERGY CORPORATION ENTERS JOINT VENTURE IN MONTANA EXSHAW/BAKKEN OIL PLAY
Vecta Energy Corp. has signed a letter of intent to enter into a joint venture (JV) with a non-arm's-length party, to participate in the Exshaw/Bakken light oil resource play in northern Montana. The JV partner's leasehold interests under approximately 90,000 acres of lands will be assigned to the JV, which are deemed prospective for multiple objectives, including the Exshaw/Bakken. The JV partner is active in the exploration and development of projects in multiple basins in the Rocky Mountains and other regions within the United States. A number of Canadian and U.S. companies are actively pursuing the Exshaw/Bakken light oil play that extends south from the Alberta/Montana border.
Vecta will manage the JV from its Calgary office and the technical team from the JV partner will be responsible for the operations, including all engineering, land, geological and geophysical functions in the evaluation and development of the JV play. The parties will proceed with the preparation of a formal joint venture agreement and Vecta will seek financing for an aggressive work program, expected to commence in early 2011.
We seek Safe Harbor.
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http://www.magellanminerals.com/s/Home.asp
Mr. Alan Carter reports
MAGELLAN CLOSES $23 MILLION BOUGHT DEAL PRIVATE PLACEMENT
Magellan Minerals Ltd. has successfully completed an underwritten private placement of 16.7 million special warrants for gross proceeds of $20.04-million. Magellan also issued an additional 2.5 million special warrants pursuant to the exercise of an overallotment option for additional gross proceeds of $3-million. In total, 19.2 million special warrants were issued for gross proceeds of $23.04-million.
The special warrants were offered through a syndicate of underwriters led by Scotia Capital Inc. and which included Mackie Research Capital Corporation and Toll Cross Securities Inc. Magellan paid cash commissions of $1,382,400 to the underwriters.
Each special warrant was issued at a price of $1.20 and entitles the holder thereof to receive, without the payment of additional consideration, one common share of Magellan. The special warrants are subject to a hold period expiring on March 1, 2011. However Magellan has agreed to use its commercially reasonable efforts to obtain a receipt for a final short-form prospectus to qualify the distribution of the common shares underlying the special warrants within 30 days of the closing of the private placement. If a receipt for a short-form prospectus is not obtained by Magellan by that date, then the special warrants will be exercisable into 1.1 common shares instead of one common share.
The net proceeds of the offering will be used to finance exploration of Magellan's mineral projects and for general working capital purposes.
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http://www.dynacorgold.com/
2010-11-18 09:19 PT - News Release
Mr. Jean Martineau reports
DYNACOR GOLD ANNOUNCES A $5.45 MILLION DRILLING CAMPAIGN, ON ITS TUMIPAMPA PROPERTY
Dynacor Gold Mines Inc. is actively preparing a $5.45-million drilling campaign on its 100-per-cent-owned Tumipampa property. Beginning in early 2011, Dynacor plans to drill a total of 16,700 metres. The objective is to focus on the 4.1-kilometre-by-1.2-kilometre skarn ore deposit in order to determine the depth of mineralization and verify the high-grade gold and copper mineralization recently discovered in surface channel samples.
Phase one of the drilling campaign will consist of 14 drill holes with depths of between 300 to 600 metres. Three to four drill holes will target each of the four anomalous mineralized zones that have been identified by the surface geological studies. During the third quarter of 2011, the company expects to begin phase two of the drilling campaign which will consist of 10,500 metres of further drilling of mineralized zones based on the results obtained during phase one.
During third quarter 2010, in order to prepare phase one of the Tumipampa drilling campaign, the company has been actively sampling the skarn and other mineralized structures. Three hundred channel surface samples have been sent for analysis. The company will release the new data as soon as it is available.
Tumipampa -- the geological context
The Tumipampa property straddles the Apurimac corridor which hosts porphyry-copper and base-metals-rich skarn deposits such as Las Bambas (Xstrata Copper), Los Chancas (Southern Copper Corp.) and Haquira (Antares Minerals) located within the Abancay deflection zone which is an important regional structural control of the Andes Mountain Range. This deflection zone changes its orientation from northwest-southeast to east-west, creating an opening which allowed the intrusion of the large Andahuaylas-Yauri formation associated with several copper porphyries and skarn deposits. Furthermore, the Tumipampa property is located within a gold-silver-rich corridor of epithermal veins which hosts several important hydrothermal deposits such as Orcopampa, Ares, Arcata, Caylloma, Shil-Paula, Selene-Pallancata and Antapite.
The Tumipampa property is located 60 kilometres south of the City of Abancay in the department of Apurimac and approximately 500 km southeast of Lima. Its altitude varies between 4,200 metres and 4,800 metres, and covers an area of 42 square kilometres (4,200 hectares) including a recent acquisition of 1,300 hectares to protect the possible lateral extensions of the skarn ore deposit. (See news in Stockwatch on Jan. 27, 2010, and the corporate factsheet released in October, 2010.)
To date the company has completed three drilling campaigns on Tumipampa and collected 1,320 surface samples (874 on the skarn itself and 446 from other parts of the property).
Tumipampa is host to three different types of mineralization (mainly gold, copper and silver):
Copper, gold and silver mineralization associated with skarn-type deposit at the interface between limestones and marbles (Ferrobamba formation) and the Andahuaylas-Yauri intrusive rock;
Gold-bearing vein structures with variable widths ranging up to seven metres that are generally orientated along a north 20 degrees east 70 degrees northwest dip. The veins are mainly made of pyrite, chalcopyrite, hematite, iron oxides and grey-white quartz associated with the Soraya formation and the Apurimac batholite;
Disseminated gold mineralization associated with breccias in the quartzite rock.
In addition to the recent skarn discovery, the property hosts several important gold-mineralized structures, namely the Manto Dorado and veins A, B, 1, 2007, Escondida, Porvenir, Santa Rosa, San Pedro, Esperanza, Creston Siliceo, Aguila, South and Sheila Breccisa.
The Manto Dorado structure is of particular importance since it is located below and to the southeast of the skarn. In 2008, two drill holes in the Manto Dorado intersected high-grade gold mineralization with intercepts of 23.8 grams per tonne gold over 1.2 metres and 12.8 g/t Au over 1.4 metres.
Jean Martineau, president and chief executive officer of Dynacor Gold, recently commented at a meeting in New York: "The company's Tumipampa project is located in a fast-evolving mining region of Peru. It is flanked on either side by two huge copper-gold deposits. One is Los Chancas owned by Southern Copper Corp., 355 million tonnes at 0.62 per cent copper and 0.039 gram per tonne of gold, and the other is Las Bambas owned by Xstrata, 1.13 billion tonnes at 0.77 per cent copper and 0.05 to 0.068 gram per tonne Au. Xstrata recently approved (August, 2010), development of a $4.2-billion mine on its Las Bambas copper-gold project. Finally, in the past few days, our neighbor to the east, Haquira owned by Antares Minerals was given an offer of $460-million from First Quantum for its Haquira property. We are very excited by all these developments as we continue to drill and to explore Dynacor's own copper-gold skarn deposit, the Manto Dorado and the other important gold-rich vein structures."
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2010-11-29 23:41 PT - News Release
http://www.minera-irl.com/...lt.aspx?alias=www.minera-irl.com/english
Ms. Trish Kent reports
MINERA IRL ANNOUNCES RESOURCE UPGRADE, OLLACHEA PROJECT, SOUTHERN PERU
Minera IRL Ltd. has released a resource upgrade at the contiguous Minapampa and Minapampa East zones, Ollachea project, Southern Peru.
Highlights
The upgrade represents an approximately 80-per-cent conversion into indicated of the inferred resource announced in Stockwatch in November, 2009.
Infill drilling has defined 1.1 million ounces (9.3 million tonnes at 3.8 grams per tonne (g/t) gold) in the indicated mineral resource category and an additional 500,000 ounces (4.8 million tonnes at 3.2 g/t) of inferred mineral resources at a two-gram-per-tonne cut-off grade.
Within the resource envelope the company has identified robust continuous zones of higher-grade material containing 700,000 ounces (four million tonnes at 5.3 g/t) of indicated mineral resource and 200,000 ounces (900,000 tonnes at 5.5 g/t) of inferred resource using a 3.5-gram-per-tonne cut-off grade.
The company has increased its resource objective at Ollachea to over two million ounces.
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Saturn Minerals is a Canadian exploration company with a coal discovery in the emerging energy camp of the Pasquia Hills in the province of Saskatchewan
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http://www.saturnminerals.com/
Saturn Minerals Inc
Symbol C : SMI
Shares Issued 49,682,451
Close 2010-11-29 C$ 0.12
Saturn Minerals 2,807,500-FT-and-NFT-share financing
2010-12-01 13:54 PT - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 19, 2010.
Shares: 2.1 million flow-through shares and 2,807,500 non-flow-through shares
Purchase price: 10 cents per flow-through share and eight cents per non-flow-through shares
Warrants: 2,453,750 share purchase warrants to purchase 2,453,750 shares
Warrant exercise price: 15 cents for an 18-month period
Hidden placees: 29
Pro group: Fred McCullough 120,000 FT
Insider: Stan Szary 50,000 FT, 197,500 NFT
Finders' fees: CIBC Wood Gundy receives $2,880; Devenir LLC receives $11,200; Macquarie Private Wealth receives $1,536
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2010-11-08 11:09 PT - News Release
Also News Release (C-PRE) Pacific Rubiales Energy Corp (2)
Mr. Norman Holton of Loon reports
LOON ENERGY CORPORATION: SECOND WELL SPUDS ON BUGANVILES BLOCK
Loon Energy Corp. has spudded the Tuqueque-1X well.
The Tuqueque-1X well has a planned total depth of 7,600 feet and is targeting the Tetuan and Caballos formations of Cretaceous age. The Buganviles association contract land is located in the Upper Magdalena Valley area of central Colombia. The well was spudded on Nov. 4, 2010, and is currently drilling at a depth of 276 feet. The well, which is operated by a wholly owned subsidiary of Pacific Rubiales Energy Corp., is expected to reach total depth in approximately 50 days.
The Tuqueque prospect is located approximately 15 kilometres to the northwest of the Visure-1X discovery well announced in Stockwatch on Nov. 4, 2010.
Loon has a 10-per-cent privately held interest in the Tuqueque-1X well, the Visure-1X well and in the Buganviles association contract. The drilling costs of Loon in the Tuqueque-1X well are being paid by Petrodorado South America SA (Petrodorado SA) pursuant to a farmout agreement. Loon had previously announced the farmout agreement with Petrodorado SA in Stockwatch on Oct. 25, 2010, under which Petrodorado SA will pay Loon's 20-per-cent share of the authorization for expenditure cost to drill and complete two wells on the Buganviles block in Colombia to earn 75 per cent (net 15 per cent) of the interest of Loon in the Buganviles association contract. The farmout provided for a reduction in the earning interest of Petrodorado SA from net 15 per cent to net 10 per cent upon payment by Loon of 10 per cent of the completion costs of both wells, if the proposed acquisition of Loon by Petrodorado Energy Ltd., first announced in Stockwatch on July 19, 2010, did not close. It was disclosed in Stockwatch on Oct. 25, 2010, that the proposed acquisition would not close and on Nov. 3, 2010, Loon provided notice to Petrodorado SA that it would pay its entire 10-per-cent share of completion costs for both the Visure-1X and the Tuqueque-1X wells, and would then retain a 10-per-cent privately held interest in the Visure-1X well, the Tuqueque-1X well and in the Buganviles association contract.
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Symbol C : KMI
Shares Issued 19,380,138
Close 2010-10-28 C$ 0.175
2010-10-28 07:38 PT - News Release
Mr. Michael Elson reports
KILLDEER MOBILIZES DRILL FOR PROGRAM ON GOLD BELT PROPERTY
Killdeer Minerals Inc. has initiated a diamond drilling program on the company's Gold Belt property which covers an area of 22,619 hectares in the La Ronge greenstone belt, located approximately 70 kilometres north of the community of La Ronge in north-central Saskatchewan. The La Ronge greenstone belt hosts gold mineralization (and other minerals) occurring predominantly as gold-bearing shear zones. Golden Band's Bingo property, contiguous with the Gold Belt property to the northeast, is expected to begin gold production in fourth-quarter 2010.
Killdeer's helicopter-supported drill program will test three distinct areas: the Vidgy Lake showing; the Kwiatoski Lake area; and the Triangle Lake area. Total metres to be drilled by Kluane Drilling of Whitehorse, Yukon, is expected to approximate 3,000 metres.
The Kwiatoski Lake showing, where historical exploration has located several gold shear and quartz vein occurrences, was sampled by Killdeer in 2009. Assays from two of these occurrences, the Davidson and Charlie's Chance showing, returned values of 516.6 grams per tonne gold and 93.4 grams per tonne gold from the Davidson, and assays from the Charlie's Chance occurrence ranged from 28.5 grams per tonne gold to 185 grams per tonne gold. Neither of these occurrences has been previously drill tested.
The Vidgy Lake showing is a one- to 2.5-metre shear zone hosted quartz vein from which historical work reported in excess of 100 grams per tonne gold in grab samples and 4.2 grams per tonne gold over a two-metre sample width (see news release in Stockwatch dated Dec. 3, 2009).
The third diamond drill site, the Triangle Lake magmatic copper-nickel intrusion, forms part of the Bassett Lake-layered mafic to ultramafic intrusive complex associated with massive to semi-massive magnetite and pyrite-pyrrhotite-chalcopyrite-pentlandite mineralization. Drilling is designed to test a highly anormolous 900-metre-by-60-metre magnetic anomaly. Historical exploration work returned trench samples grading 0.82 per cent copper, 0.21 per cent nickel and 0.35 per cent cobalt.
A subsequent historical diamond drill program, consisted of three vertical holes drilled to a maximum depth of 80 metres, ended in ultramafic rocks. The hole may have ended at the transition between mafic and ultramafic rocks (see news release in Stockwatch dated Dec. 3, 2009), and the present drill program will be designed to test the zone to greater depth.
The technical information in this release was reviewed and approved by Richard T. Walker, MSc, PGeo, the company's qualified person as defined by National Instrument 43-101.
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Gegründet 2005, profitiert das Unternehmen von einer bewährten Führung, Weltklasse-Eigenschaften sowie die finanzielle und technische Expertise
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Exploring the Silver-Rich Stewart Region of Northwestern British Columbia, Canada
http://www.silvergrail.com/index.html
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Saturn Minerals Inc. is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan, Manitoba and British Columbia.
The Company`s first major coal discovery was made in 2009 in Eastern Saskatchewan with exploration ongoing. The Company continues to build strategic relationships throughout Saskatchewan to pursue new opportunities and advance current projects in the Saskatchewan share of the Western Canadian Sedimentary Basin.
Energy in Saskatchewan
Saturn Minerals Inc. is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan, Manitoba and British Columbia.
http://www.saturnminerals.com/
The Company`s first major coal discovery was made in 2009 in Eastern Saskatchewan with exploration ongoing. The Company continues to build strategic relationships throughout Saskatchewan to pursue new opportunities and advance current projects in the Saskatchewan share of the Western Canadian Sedimentary Basin.
http://westcoreenergy.ca/
