SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Gold/Mining/EnergyPele Mountain


Previous 10 Next 10 
To: Letmebe Frank who wrote (207)10/30/2003 9:03:53 AM
From: rdww
   of 241
 
Pele Mountain Advances Diamond Exploration at its
Attawapiskat River Project
TSX VENTURE SYMBOL : GEM
OCT. 30.2003 8:00ET
TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture: GEM)
("Pele" or the "Company") is pleased to announce that it has
continued an aggressive program of acquisition and staking of
mining claims at its East River Property within and adjacent to
the Attawapiskat cluster of diamond bearing kimberlite pipes. The
size of Pele's claim holdings within the five separate claim
blocks in its Attawapiskat River Project has increased to a total
of more than 650 mining claim units comprising approximately
30,000 acres. Pele's mining claims comprise the second largest
100% owned land package within approximately 20 kilometers of De
Beers' Victor Project.

During the past six months Pele has advanced a diamond
exploration program at its Attawapiskat River Project that began
with a review of available information including assessment files
at the Ministry of Northern Development and Mines and has
proceeded with an active on-site exploration program. Work to
date has included diamond indicator mineral sampling, and
acquisition and analysis of airborne and ground geophysical data.

A ground geophysical survey program is currently under way to
delineate possible kimberlite targets for follow up drill testing
in an area where a prominent northwest striking linear feature
crosses Pele's West River Property. This linear feature has been
confirmed to host kimberlite along strike to the southeast of
Pele's property and appears to be spatially related to several of
the known kimberlite pipes in the Attawapiskat cluster. A number
of possible kimberlite targets have been identified on Pele's
claims from airborne and ground geophysical data interpreted by
Scott Hogg and Associates Ltd, who are independent consultants
with extensive experience and expertise related to geophysical
analysis in the area of the Attawapiskat cluster of kimberlite
pipes.

Kimberite and diamond indicator minerals including pyrope garnet,
chrome diopside, illmenite, chromite and olivine have been
recovered from samples collected from Pele's West River Property
and East River Property and additional samples have been shipped
to SGS Lakefield Research Ltd. for indicator mineral analysis.

This Press release has been reviewed and approved by Dr. Edward
Walker P. Geo. of PetroLogic Inc., an independent consultant and
Qualified Person and has been reviewed and approved by Scott Hogg
and Associates Ltd.

Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that
describe Pele's future plans, objectives or goals, including
words to the effect that Pele or management expects a stated
condition or result to occur. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in
such statements. None of the Company's properties have any known
ore body of economic or commercial value.

Common Shares Outstanding: 39,139,014

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Pele Mountain Resources Inc.
Al Shefsky
President
(416) 368-7224
www.pelemountain.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

Share RecommendKeepReplyMark as Last Read


To: Letmebe Frank who wrote (207)10/31/2003 9:52:14 AM
From: rdww
   of 241
 
some poeple must have read kaiser's blurb this AM

"Pele Mountain Resources Ltd (GEM-V: $0.49), which
staked 8,907 hectares earlier this year north of the Victor pipe could
get lots of proximity mileage if Fipke's discovery is in this area.
Pele's Attawapiskat play has an implied project value of only $23
million."

Kaiser is saying that all Pele has is Attawapiskat with that #. No credit for the Wawa project or the golds at all

Kaiser may need an update on peles work - the last NR said something about
"A ground geophysical survey program is currently under way to delineate possible kimberlite targets for follow up drill testing"

"A number of possible kimberlite targets have been identified on Pele’s claims from airborne and ground geophysical data interpreted by Scott Hogg and Associates Ltd, who are independent consultants with extensive experience and expertise related to geophysical analysis in the area of the Attawapiskat cluster of kimberlite pipes."

LOL - how many companies are seaching for stuff in Atta - that appears to be a nice plug for hogg's client list

I'll post the whole kaiser in a minute

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: rdww who wrote (210)10/31/2003 9:59:02 AM
From: rdww
   of 241
 
Re: Expresses - Thursday, October 30, 2003
Express 2003-10: Evidence for a new set of non-magnetic pipes
within Attawapiskat field
Publisher: Kaiser Bottom-Fishing Report
Author: Copyright 2003 John A Kaiser
=======================================================================
Express 2003-10
October 30, 2003

Evidence for a new set of non-magnetic pipes within Attawapiskat field

Metalex Ventures Ltd (MTX-V: $3.15) announced in the last hour of
trading on October 30 just before its annual general meeting in Toronto
that "ground geophysical orientation testing" has indicated that a pipe
with a diameter of 150 metres is associated with the 7 metre
intersection of kimberlite reported on October 23. Such a target has
tonnage implications of 10-20 million tonnes to a depth of 300 metres.
It is not evident what type of geophysical survey was used, but in all
likelihood it involved a gradiometer gravity survey which measures
relative differences in density. The kimberlite had been intersected
beneath 5 metres of overburden by an auger-core rig Metalex was using
to grid sample an area where an airborne magnetic geophysical survey
had not detected any anomalies. In addition, a "similar geophysical
target approximately 250 metres by 400 metres in size" had been
detected in an area underlain by abundant indicator minerals. This
target, if confirmed as a kimberlite, has tonnage implications in the
50-100 million tonne range, which are Holy Grail proportions. Metalex
indicates that it plans to drill at least three holes spaced 100 metres
apart into this new target, though it has not said anything about
followup plans for the confirmed kimberlite. Presumably both these
targets are associated with the five trains whose indicator minerals
Chuck Fipke described in the October 23 new release as possessing
"exceptional diamond inclusion compositions typically present in
kimberlites with substantial diamond grades". But Fipke has not
explicitly stated that either of these targets has indicator minerals
with the said substantial grade potential, and in terms of conventional
understanding of the types of indicator minerals described by Fipke, it
is not obvious from the descriptions Fipke has made of the associated
indicator minerals that these two targets are the Holy Grail that Fipke
is stalking in the Attawapiskat region. In the latest release Fipke
describes the second target's garnets as lherzolitic G10's, which means
that the garnets are borderline G10 and not very sub-calcic, similar to
the Victor pipe. Normally this does not generate high hopes, but the
science behind diamond indicator mineral chemistry is currently in a
state of revolution in which Fipke is heavily involved, and so we have
to be very careful drawing negative conclusions from the absence of
garnets or the presence of borderline G10 garnets. My gut feel is that
while these targets will be diamondiferous pipes, they are not the
quarry Fipke is stalking. I suspect there is a lot more to come.

What is a fair and very important conclusion to draw is that a set of
kimberlites exists within the Attawapiskat region whose discovery has
eluded the earlier geophysics based exploration efforts of De Beers and
others. Where the five trains mentioned by Fipke are relative to each
other is not known, nor has the general location been revealed. An
educated guess suggests that these trains are part of a broader
dispersion fan that emanates from a hitherto unrecognized cluster
somewhere north of the Victor pipe, but given Fipke's history of
paranoid secrecy and penchant for misleading the competition, one has
to be cautious about this conclusion. These targets could be anywhere
within the 1-2 million acre Attawapiskat region that Fipke has filtered
using his strategy of auger till sampling localized on anomalies
generated by an airborne magnetic survey done on more detailed line
spacing than utilized by De Beers, Spider/KWG and Canabrava/Navigator
to discover the 19 known kimberlites in the region. The latest news
release is very important because it blows away a dark cloud that has
been hanging over the Attawapiskat diamond play, namely the possibility
that Fipke has been chasing indicator minerals that emanate from small,
dyke-like kimberlites which might be high grade but economically
insignificant because of small tonnage implications. If Peter Gregory's
description of how the magnetic target sampling strategy spawned a
focus shift to stalking non-magnetic targets is accurate, the entire
Attawapiskat region is fair game for a new wave of diamond exploration.

Having embarrassed myself with my Express 2003-09 prediction of
"explosive market action" following the October 23 news about hitting
kimberlite, I feel a little sheepish making the same prediction for
Friday, October 31. But with the dark cloud out of the way, stronger
upside action is likely. In terms of the rational speculation model
both Arctic Star Diamond Corp (ADD-V: $0.75) and Metalex still offer
poor speculative value given the implied project value of their
Attawapiskat stakes ($183 million for Arctic Star and $169 million for
Metalex) and the early stage of this exploration cycle, but the story
is now once again alive and well. Metalex does still have a major
overhang in the form of 8 million shares bought at $0.40-$0.50 that
come free trading on December 17, but the October 30 news has given a
major boost to hopes that Fipke is on the verge of making another major
diamond discovery in Canada. While both Metalex and Arctic Star will
likely trade higher, the message in the latest release is bound to
attract speculators to the satellite juniors in the Attawapiskat
region.

Dumont Nickel Inc (DNI-V: $0.45) has a 10% stake in a lot of ground in
the vicinity of the Victor pipe that could host "invisible" pipes, but
the $342 million implied project value for its Attawapiskat stake
offers poor speculative value. But the $57 million IPV of its flagship
Clifton-Hill project in Utah provides considerable downside insurance
for the diamond play. Pele Mountain Resources Ltd (GEM-V: $0.49), which
staked 8,907 hectares earlier this year north of the Victor pipe could
get lots of proximity mileage if Fipke's discovery is in this area.
Pele's Attawapiskat play has an implied project value of only $23
million. Vault Minerals Inc (VMI-V: $0.40), which at 55,136 hectares
has the largest contiguous land position in the Attawapiskat region,
has an IPV of only $7 million. And Leeward Capital Corp (LWC-V: $0.19),
which staked 50 targets throughout the Attawapiskat region earlier this
year on the basis of a proprietary air-photo analysis based system that
would spot both magnetic and non-magnetic targets, also has an IPV of
only $7 million even after raising $300,000 through two recent private
placements. Leeward has been creeping up on expectation that
confirmation of title for its 70,000 hectare Set Ga Done concession in
Myanmar will happen within the next couple weeks. Dumont, Pele, Vault
and Leeward all have active gold related stories which will carry their
markets whether or not the Attawapiskat play escalates to the next
level. In case anybody hasn't noticed, we are in a very hot junior
resource sector market, and juniors which offer a double gold and
diamond bang for the dollar are bound to attract market action.

*JK owns shares in Vault and Leeward

To view online version click the link below:
kaiserbottomfish.com

Share RecommendKeepReplyMark as Last Read


To: Letmebe Frank who wrote (207)11/4/2003 7:21:33 PM
From: rdww
   of 241
 
Pele Mountain Acquires Nickel Property

Tuesday November 4, 9:34 am ET

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX-V: GEM -News ;”Pele” or the “Company”) is pleased to announce that it has acquired a 100% interest in a nickel property comprised of 41 mining claim units located 35 kms south of Timmins, Ontario (the “Nickel Property”). Pele’s Nickel Property, which ties on to the southern boundary of the past producing Texmont nickel mine property, was acquired from arm’s length prospectors for $5,000 in cash, 180,000 common shares of Pele (at an attributed value of $90,000) and retention by the prospectors of a 1.5% NSR, of which Pele can repurchase 1% for $1,000,000.

Al Shefsky, President and CEO of Pele stated, “ The acquisition of this highly prospective Nickel Property is a continuation of Pele’s strategic goal to explore in Northern Ontario for minerals that can add to shareholder value including diamonds, gold and nickel. Pele is very excited about this new acquisition and the opportunity it presents to participate in the prolific Timmins Nickel camp. Recent news shows a hightened interest in nickel exploration and mining in the area with an important new discovery by Mustang Minerals Corp and government approval for Falconbridge to proceed with its Montcalm nickel mine.”

Exposed bedrock geology and regional airborne geophysics confirm that Pele’s new Nickel Property includes a suite of ultramafic rocks in a geological stratigraphy that is similar to the adjacent Texmont nickel mine and other locations in the Timmins nickel camp which have mined economic concentrations of nickel. Recent ground geophysics completed over a portion of the Nickel Property has clearly identified high potential drill targets. Additional ground geophysics and a drill program are currently being planned.

This press release has been reviewed and approved by Kian Jensen P. Geo., an independent consultant and Qualified Person.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. None of the Company’s properties have any known ore body of economic or commercial value.

Common Shares Outstanding: 39,319,014

Contact:

Pele Mountain Resources Inc.
Al Shefsky
President and Chief Executive Officer
Phone: (416) 368-7224
www.pelemountain.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: rdww who wrote (212)12/3/2003 9:54:46 PM
From: rdww
   of 241
 
Bulk Sampling Advances to Next Stage

FOR IMMEDIATE RELEASE December 3, 2003 Toronto: Pele Mountain Resources
Inc. (TSX Venture: GEM) ("Pele" or the "Company") is pleased to announce
that the bulk sampling program undertaken by De Beers Canada Exploration
Inc. ("De Beers") pursuant to its Option and Joint Venture Agreement with
Pele (the "Option Agreement") (see Pele's press release of July 31, 2003),
has advanced to the next stage. The first samples from the Genesis diamond
occurrence have been shipped to De Beers' DMS plant in Grande Prairie and
processing will begin during the week of December 3, 2003. The processing
circuit in Grande Prairie will be modified to include magnetic separation
after Dense Media Separation in order to reduce the amount of concentrate
and to expedite diamond recovery at De Beers' facilities in South Africa.

Additional bulk samples are continuing to be crushed on-site at the
Festival Property in preparation for shipment to, and processing in, Grande
Prairie. Due to a number of factors, including the commencement of bulk
sampling late in the field season and the current inclement weather
conditions, De Beers expects approximately 250 tonnes of bulk sampling will
be taken from the Festival Property by year end rather than the 300 tonnes
that was contemplated in the Option Agreement.

The bulk sampling program undertaken by De Beers was initiated with the
intent to acquire more information about the relationship between the
distribution of micro diamonds and commercial size diamonds within the
diamond occurrences of the Festival Property. Increasing the confidence
level of modeled grade calculations based on micro diamond data will assist
in prioritizing the extensive suite of diamond occurrences discovered
within the Festival Property.

Exploration work completed to-date has discovered more than 20 significant
diamond occurrences and the majority of the Festival Property has yet to be
prospected. Much more information will be required before the economic
potential of the diamond deposits within the Property can be determined
with confidence. The diamond discoveries in the southwest corner of the
Festival Property are part of a suite of diamond-bearing rocks that can be
traced in intermittent outcrop along a specific stratigraphic horizon for
more than 5 kilometres with surface widths up to and exceeding 100 metres.

Petrological studies suggest that particular geological, textural,
mineralogical and chemical data can be directly correlated with specific
rock types, and most importantly, there appears to be a correlation between
this data and the size distribution of the diamonds. As this type of work
advances, it is anticipated that it may be possible to prioritize the
diamond occurrences and the different facies of diamond-bearing rock for
additional bulk sampling that will test the economic potential of a
particular occurrence. Results obtained to-date including micro diamond
samples processed throughout the 2003 field season indicate that the
distribution of diamonds recovered from total extraction techniques with a
bottom cut-off screen of 0.1 mm vary from barren to frequencies of more
than 10 diamonds per kilogram.

Commercial size diamonds have been recovered from the Festival Property
including a 0.72 carat white gem quality diamond from a 13 tonne sample
collected from the Cristal diamond occurrence (see Pele's press release
dated January 22, 2003).

This Press release has been reviewed and approved by Dr. Edward Walker P.
Geo. of PetroLogic Inc., an independent consultant and Qualified Person.

For further information please contact Al Shefsky, President at (416)
368-7224, or visit our website at www.pelemountain.com.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some of the
statements contained in this release are forward-looking statements, such
as estimates and statements that describe Pele's future plans, objectives
or goals, including words to the effect that Pele or management expects a
stated condition or result to occur. Since forward-looking statements
address future events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements. None of the
Company's properties have any known ore body of economic or commercial value.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: rdww who wrote (213)12/5/2003 11:36:29 AM
From: rdww
   of 241
 
FOR: PELE MOUNTAIN RESOURCES INC.

TSX VENTURE SYMBOL: GEM

DECEMBER 5, 2003 - 10:38 ET

Pele Mountain Stakes Key Claims and Advances Exploration
at Attawapiskat River Diamond Project

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture: GEM)
("Pele" or the "Company") is pleased to announce that it has
staked and recorded an additional large group of strategically
located mining claims that straddle the extension of the NNW
linear trend along which most of the Attawapiskat diamond-bearing
kimberlites occur. Pele's recent staking includes approximately
1000 claim units which are contiguous to the Company's West River
Property, the boundary of which is now located approximately one
(1) kilometre from De Beers' Tango-1 kimberlite pipe. Pele's
Attawapsikat River Project currently covers more than 60,000
acres and comprises the largest 100% owned claim holdings located
within a 30 kilometre radius of De Beers' Victor kimberlite pipe
(see attached map).

Pele staked and recorded some of its new claims on the same
ground where mining claims, previously owned by another
exploration company that were subject to an active joint venture,
were cancelled more than one month earlier by the Ministry of
Northern Development and Mines.

Pele also announced today that it has increased the size of its
exploration camp on its West River Property and has mobilized
additional men and equipment into the camp. The ground geophysics
program announced in Pele's press release of October 30, 2003 is
continuing and the Company is currently preparing to commence a
ground sampling program. A power auger system has been acquired
and will be used initially to test areas of potential interest. A
core drilling system has also been acquired and mobilized to a
staging area where it is immediately available to collect samples
from deeper more competent bedrock if necessary.

Pele's Attawapiskat River Project is strategically located within
an area that is considered to have a "high" potential for the
discovery of additional kimberlites (Sage, OFR 6019, 2000). At
least 18 diamond-bearing kimberlites have already been discovered
in the area, including the De Beers' Victor kimberlite pipe
which, according to published information, is advancing towards
planned commercial diamond production in 2007. Recent discoveries
announced by Metalex Ventures and its joint venture partners also
suggest that additional kimberlites are likely to be present in
the area.

This press release has been reviewed and approved by Dr. Edward
Walker P. Geo., of PetroLogic Inc., an independent consultant and
Qualified Person.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some
of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe Pele's
future plans, objectives or goals, including words to the effect
that Pele or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
None of the Company's properties have any known ore body of
economic or commercial value.

For the map entitled 'Attawapiskat Area', please see the
CCNMatthews website at the following URL:
www2.cdn-news.com

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: rdww who wrote (214)12/5/2003 7:22:11 PM
From: Letmebe Frank
   of 241
 
rdww - take a gander at this report.
ott.wrcc.osmre.gov

on page 10 they have a colour 3d model of Victor - look at the number of holes they poked into that thing! No wonder they spent so much to date.

I have't read it yet, just found it, and thought you would find it of interest. Let me know what you think.

LMBF

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: Letmebe Frank who wrote (215)12/5/2003 7:26:03 PM
From: Letmebe Frank
   of 241
 
The Victor deposit is thus a low-grade deposit,
and will not be a prolific producer in the same
league as Ekati or Diavik. Current planning is for
an open pit mine to a depth of just over 220
metres, with a mining rate of about 2.5 million
tonnes a year. This gives a mining life of around
15 years, two for construction, 11 for mining and
two for closure of the mine Current estimates for
construction capital are around $730 million.
Current Internal rates of return estimates are just
over 8%, which is below the company’s hurdle
rate of 12%.

Because the site is entirely with in the muskeg of
the James Bay Lowlands, access and foundations
are problematic. There are no roads, and it is
difficult to move when the ground is not frozen as
everything is one huge swamp. Gravel and sand
deposits are few and far between: there are
however, a number of limestone bioherms that
come close to surface, and inn places outcrop. It is
planned to use these to provide aggregate.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: Letmebe Frank who wrote (216)12/9/2003 3:48:32 PM
From: rdww
   of 241
 
LOL - let me guess - DB wrote that optimistic note on Victor ! lol - well it appears to running fwd and they are in print as saying that the diamonds are way better than ekati and diavik despite those gloomy tonnage predictions - I gues they didn't want to mention that delta and tango are moving along so goes rumours and should be addt'l tonnage!

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: rdww who wrote (217)12/9/2003 5:16:47 PM
From: Letmebe Frank
   of 241
 
With all the overburden, water issues, lack of roads or even aggregate to build with, I wonder how significant a burden they are to the economics of the Attawapiskat region diamond plays. Certainly drilling costs alone are as high as the NWT's.

Share RecommendKeepReplyMark as Last ReadRead Replies (2)
Previous 10 Next 10