| From: Rob J23 | 7/11/2012 11:51:55 AM | | | | | | Evolving Gold (TSX:EVG) (OTCQX:EVOGF) Reports Multiple High Grade Intervals at Its Carlin Project, Nevada Including: 9.1 Meters at 22.0 gpt Gold 2.7 Meters at 33.11 gpt Gold, 3.8 Meters at 29.53 gpt Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2012) -Evolving Gold Corp. (TSX:EVG) (OTCQX:EVOGF) (FRANKFURT:EV7) (the "Company") is pleased to report that diamond drill hole CAR-016.1 intersected several high grade gold zones at its Carlin Project in Nevada, including 9.1 meters at 22.0 gpt (grams per tonne) gold (30.0 feet at 0.64 ounces per ton, opt gold) starting at 908.3 meters down hole. This intersection includes 1.2 meters at 44.0 gpt gold (4.0 feet at 1.28 opt gold). In addition CAR-016.1 intersected 1.2 meters at 15.5 gpt gold (4.0 feet at 0.45 opt gold) starting at 897.9 meters down hole. The entire interval from 897.9 to 917.4 (19.5 meters or 64.0 feet) averages 11.76 gpt gold (0.34 opt gold), including a lower grade interval at 899.2-908.3 meters.
Carlin Drill Map: http://www.evolvinggold.com/properties/carlin/map.html
Other significant intersections are detailed in the table below and include 2.7 meters at 33.11 gpt gold (9.0 feet at 0.97 opt gold), 3.5 meters at 9.73 gpt gold (11.5 feet at 0.28 opt gold), 3.8 meters at 29.53 gpt gold (12.5 feet at 0.86 opt gold), and 0.61 meters at 38.0 gpt gold (2.0 feet at 1.11 opt gold). Drill hole CAR-016.1 was completed to a depth of 1,004.9 meters (3,297 feet).
"We are obviously excited by the high grade results from our drill hole CAR-016.1," stated R. Bruce Duncan, CEO of Evolving Gold. "The multiple high grade gold zones in this drill hole and the thickness of the main high grade intersection are extremely encouraging. These results simply demonstrate what we have believed for a long time. The system we have identified in the south end of the prolific Carlin Gold Trend is a large and powerful Carlin style gold system, capable of producing thick intervals of high grade gold mineralization. In this drill hole we have encountered repeated zones of high grade gold mineralization over a down hole interval of 89 meters, or 292 feet. The full potential of this system is being constantly enhanced with each successive drill hole that is completed."
Drill hole CAR-016.1 is a wedge hole drilled from CAR-016 after that hole was terminated due to ground conditions short of its target depth. CAR-016.1 is a vertical hole, approximately 70 meters southeast of the pad from which two previous holes were drilled, CAR-007 (18.3 meters at 11.70 grams per tonne gold announced February 25, 2010) and CAR-010 (10.1 meters at 11.09 grams per tonne gold announced April 14, 2011), as shown on the attached map. Due to down hole deviation, the high grade intercept in CAR-016.1 is approximately 30 meters east of the intercept reported in CAR-010.
Assays from two additional vertical diamond core holes, CAR-017 and CAR-018, drilled 50 meters southwest and 50 meters northwest from hole CAR-007, respectively, are also reported in this release. Notwithstanding the high grade intersected in CAR-016.1, the Company is pleased with the short intervals of significant gold mineralization encountered in CAR-017 and CAR-018.
Results from holes CAR-007, CAR-010, CAR-016.1, CAR-017 and CAR-018 indicate that the high grade gold system is open to the northeast, east and southeast. The envelope of mineralization appears to be gently dipping, expanding in size, and developing multiple high grade gold horizons to the east, onto a portion of Evolving Gold's large land holding which is as yet undrilled.
CAR-019, approximately 60 meters north of CAR-016.1, is in progress and should be completed within the next 2 weeks. Due to the down hole deviation, this hole is expected to test the target zone approximately 130 meters northeast of the high grade gold intercept in CAR-016.1. Due to the success of CAR-016.1, the Company will consider drilling wedge holes from CAR-016 and CAR-019 to further test this area of high grade gold mineralization.
Hole
From (meters
)
To (meters
)
Length (meters
)
Gold (grams per tonne
)
Length (feet
)
Gold (oz per ton
)
CAR-016.1
870.5
872.0
1.5
8.74
5.0
0.25
876.6
879.3
2.7
33.11
9.0
0.97
897.9
917.4
19.5
11.76
64.0
0.34
including
898.0
899.2
1.2
15.50
4.0
0.45
including
908.3
917.4
9.1
22.00
30.0
0.64
including
909.2
910.4
1.2
44.00
4.0
1.28
935.7
939.2
3.5
9.73
11.5
0.28
948.1
951.9
3.8
29.53
12.5
0.86
957.1
957.7
0.6
38.00
2.0
1.11
CAR-017
630.9
634.0
3.1
0.51
10.2
0.015
CAR-018
698.0
699.5
1.5
1.28
4.9
0.037
715.8
723.9
8.1
1.08
26.6
0.032
including
717.4
719.3
1.9
2.55
6.2
0.074
All drill hole averages are weighted averages, weighting each assay interval according to the core length for that assay interval. All assay intervals are included in the average, with no bottom cut-off. True widths of mineralization in these drill holes, at this stage of exploration, are not precisely known. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish. Overlimit assays were completed with gravimetric finish.
In compliance with National Instrument 43-101, Dr. Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.
The Company presently has one core rig drilling on its Carlin property and one mud rotary rig testing a target on its adjacent 100% owned Humboldt project. The Carlin Project is subject to an agreement with various subsidiaries of Newmont Mining Corporation.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and its gold discovery at Rattlesnake Hills, Wyoming.
For more information about Evolving Gold please visit: www.evolvinggold.com.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
R. Bruce Duncan, President, CEO and Director |
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| From: Rob J23 | 7/12/2012 11:40:03 AM | | | | | | Pan American Fertilizer Announces First Sales (CNSX: PAF)
(via Thenewswire.ca)
VANCOUVER, BRITISH COLUMBIA, July 12th, 2012 - Pan American Fertilizer Corp, (CNSX: PAF) ("Pan American" or the "Company") is pleased to announce the initial shipments of calcium sulphate from its Estela Ceclilia property in Santiago Del Estero, Argentina.
"I am extremely pleased with the rate at which we have brought our operation to a level where we are able to execute a full sales cycle. We are currently shipping product to multiple customers, which we project will continue on a repeat basis. In addition, as part of our strategic sales strategy, we are presently in the process of negotiating long term agreements with several customers and distributors. We are also experiencing a continued growth of our customer base and an increase in market share, which confirms our ability to deliver a high quality product at a competitive price in a timely manner" reported Randy Wright, President and CEO of Pan American.
About Pan American Fertilizer Corp.
Pan American is a Canadian company dedicated to providing fertilizer to a growing global market. The Company is focused on the extraction of a specific type of fertilizer called calcium sulphate (also referred to as "Agricultural Gypsum"). To ensure long term development and increase shareholder value, Pan American plans to significantly expand its current operational objectives while expanding its asset base by acquiring additional calcium sulphate and other fertilizer related assets.
When used as a fertilizer and as a soil remediator, calcium sulphate is a soft sulfate mineral composed of calcium sulfate dehydrate which is extremely rich in sulphur and calcium. When dissolved in water, the mineral becomes calcium and sulphate sulphur ions, both of which are required nutrients for plants. Calcium sulphate plays a vital role in establishing and maintaining good chemical balance in soil, water and plants, specifically with healthy root development. Ultimately, calcium sulphate increases overall crop quality and yields.
On behalf of the board of directors of Pan American Fertilizer Corp.
"Randy Wright"
Randy Wright
President and CEO
FOR MORE INFORMATION, PLEASE CONTACT:
Jeff French |
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| From: PaperPerson | 7/13/2012 11:26:57 PM | | | | | | Gold Market to Focus On Bernanke, U.S. Data Next Week For Any Clues On Monetary Easing
13 July 2012, 2:48 p.m.
By Allen Sykora
Of Kitco News
kitco.com
(Kitco News) - The gold market will be watching next week for any clues on whether to expect further Federal Reserve monetary easing, with much of the focus likely to be a slew of U.S. economic reports and congressional testimony on the economy from Fed Chairman Ben Bernanke.
Prices rallied sharply on Friday to flip to a gain for the week after gold was behind as of Thursday. The Comex August contract rose $26.70 Friday to settle at $1,592 an ounce, which was a gain of $13.10 from a week ago. September silver climbed 20.8 cents Friday to close at $27.369, posting a weekly gain of 44.90 cents.
The gold market’s end-of-week bounce appeared to be on hopes for more stimulus in the U.S. and elsewhere, said Charles Nedoss, senior market strategist with Kingsview Financial. China’s second-quarter gross-domestic-product growth cooled to 7.6%, the lowest level in more than three years, and low coal prices and electrical usage also portend economic slowing, he said. Gold’s gains accelerated around mid-morning in New York after the University of Michigan-Thomson Reuters consumer-sentiment index fell to a preliminary July reading of 72, its lowest since December, from 73.2 in June, Nedoss continued.
There are hopes for “more worldwide easing, not just here” in the U.S., Nedoss said.
Technically, prices bounced “pretty good” Thursday from near-term chart support in the $1,550-$1,560 area, Nedoss said. “You see some bottom feeding, prompted by weaker (economic) numbers all the way around,” he said.
As for next week, of the 19 participants who took part in the Kitco News Gold Survey this week, 10 see prices up, while four see prices down and five see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts. Several said this outlook may well hinge on whether the news flow next week supports or undercuts the case for further Fed easing.
The research departments of a number of investment banks have said they see potential for a third round of quantitative easing down the road, assuming U.S. economic data remains soft. This is the buying of Treasury securities in a bid to push down long-term Treasury yields.
At the June Federal Open Market Committee, officials instead extended the less-gold-bullish program known as Operation Twist, in which officials sell short-term securities to buy long-term ones, thereby not expanding the central bank’s balance sheet.
Still, hopes for so-called QE3 have not died since U.S. economic data remains on the weaker side. Since the last FOMC meeting, the government reported that June non-farm payrolls rose only 80,000. This meant jobs growth was less than 100,000 in each month during the second quarter.
Against this backdrop, Bernanke is scheduled to appear before a pair of congressional panels Tuesday and Wednesday mornings to testify on the economy. Markets will be watching to see whether he appears less dovish than in the past, which would be seen as a tilt toward more aggressive monetary accommodation.
Often, traders have tended to take positions ahead of Fed releases or appearances in which market participants have factored in a greater likelihood of more QE, pointed out Bart Melek, director of commodity strategy, rates and foreign-exchange research for TD Securities.
“There is a lot of chatter that quantitative easing will be required but will need data to show us why we shouldn’t get it,” Melek said. “As such, ahead of the possible policy announcement, you might see people taking long positions….which could move not only gold but the entire commodity complex higher. Any serious hint from policy-makers that QE3 is the offing or imminent could very well move the price out of its recent trading range and much higher.”
Gold’s performance during the latter part of next week no doubt may hinge largely on just what Bernanke ends up saying, said Melek a Chicago-based futures trader. Should the Fed chairman disappoint the market, gold may well come back down, as it has after prior QE false starts, the trader added.
“We don’t expect him (Bernanke) to say anything that he hasn’t before, but there is always that hope, I guess,” Melek said.
Additionally, the market will be scrutinizing U.S. economic data next week to see whether they hurt or support the odds for more QE.
“There are a lot of numbers to trade off next week,” Nedoss said. “If we see weak numbers, we’ll have people building the case again for QE.”
The calendar includes retails sales and the Empire State manufacturing survey on Monday, Consumer Price Index and industrial production on Tuesday, followed by housing starts and the Federal Reserve Beige Book report on Wednesday. Reports Thursday include weekly jobless claims, existing-home sales and the Philadelphia Fed survey.
One of the bigger reports early in the week will be June retail sales on Monday. The consensus forecast is for a rise of 0.3%, or 0.1% excluding autos.
“Any significant beat would get people to think that quantitative easing is not as imminent. A significant disappointment might rally up gold in particular,” Melek said. |
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| From: james flannigan | 7/18/2012 10:24:25 AM | | | | | | | From: james flannigan | 7/18/2012 8:43:25 AM | | | of 73487 | | | I spoke to Richard Whittall of Newstrike Capital.He told me mining majors from all over the world are very interested in NES. This is a very special deposit and likely one of the richest in the world.I think this company is in play as Lukas Lundin was buying large blocks of stock @$3.11 and now owns 40% of the company.A buy out will happen not too far from now:
James
Updated July 17, 2012, 8:50 p.m. ET
In Mexico, Gold Mines Beckon Once More
By NICHOLAS CASEY
MESCALA, Mexico—Here in Mexico, a new gold rush is under way.
High gold prices are compelling companies to start mining more aggressively in the difficult terrain in Mexico's mountainous areas. Video and reporting by WSJ's Nicholas Casey.
The metal's long cycle of high prices, surpassing $1,500 an ounce, has allowed big outfits like Canada's Goldcorp Inc. to set up operations in areas where, in the past, gold wasn't concentrated enough in the soil for mines to make a profit after sifting it out. This year, Goldcorp's Peñasquito site, a massive, low-concentration mine in the deserts of Zacatecas state, is set to produce 500,000 ounces of gold, making it Mexico's biggest gold mine and Goldcorp's most prolific.
Elsewhere in Mexico, discoveries of more highly concentrated deposits have led a host of exploration companies to increase investments and land purchases. These high-grade discoveries include the find late last year of an underground deposit the size of a high-rise building in the mountains of Guerrero—a strike nearly a thousand feet deep and 500 feet wide that mining companies believe to be one of the most highly concentrated discoveries in Mexico in the last 50 years.
"People had said everything had been discovered in Mexico. Now you're seeing a renaissance," said Richard Whittall, chief executive of Canada's Newstrike Capital Inc., which discovered the Guerrero site, still under exploration.
Silver has long been the cash cow of Mexico's mining industry. But last year the country joined the top 10 gold producers, mining more than 86 metric tons of the yellow metal, three times what it produced 10 years ago and more than other heavyweights in the region like Chile and Argentina.
Mining companies attribute this growth in part to the commodity's surge after a 20-year cycle of low prices of around $400 per ounce. As financial crises struck the U.S. and Europe, gold prices rose as many people pulled money from more risky investments and bought gold instead. In Mexico, this allowed miners to reap big profits in regions where gold wasn't as concentrated.
Goldcorp's operation here at the Los Filos mine in Guerrero offers a glimpse of where high prices are taking gold-producing countries like Mexico. People had mined in these mountains since colonial times on a small scale, leaving behind networks of underground shafts and even a few ghost towns.
Los Filos, by contrast, is a vast, open-pit mine the size of its neighboring village in Mescala. Some 2,000 employees work here. More than 70,000 metric tons of earth daily are removed with explosives and bulldozers, then trucked to a nearby site where cyanide pools are used to extract the mineral. The chemicals are recycled by pipes and the process begins again.
After a $500 million investment, the mine went into commercial operation in 2008. Last year miners extracted 330,000 ounces of gold—a record for the mine, which is expected to remain operational for another dozen years.
Success at Los Filos led the company to make an even bigger investment in Mexico when it bought and began developing the Peñasquito site in Zacatecas in 2010 at a cost of $1.7 billion, Goldcorp's largest foreign investment anywhere. In addition to an average 500,000 ounces of gold a year, the site will also expected to produce an annual average of 28 million ounces of silver, along with high quantities of lead and zinc.
"The open-pit volume has exploded there," said Salvador García, head of Goldcorp's Latin America operation.
Companies say they are drawn to Mexico by its mining laws, which allow foreign firms to reap much of the profits from their investments. Under federal law, companies must apply for a mineral-rights concession through the Mexican government and operate there through a Mexican company. But the local company may be fully owned by foreigners.
The arrangement allows foreign investors full ownership over their operation and the Mexican government the ability to tax them under local law. Taxes include a 34% income tax on profits along with mining duties, which vary by the mine.
This creates a sizable windfall for the government—in 2011, Goldcorp paid $218.5 million in taxes just for its Peñasquito mine, the company said.
Peter Schulhof, whose company Westridge Resources Inc. operates a new gold mine in Mexico's Sinaloa state, said Westridge had been sorting through plans for mines in 60 other countries but eventually opted for Mexico because of its political and legal stability.
While many firms want to explore countries like Venezuela, where mineral quality may be higher, the risks of nationalization are high, too, he says. "The colors of the Rubik's cube lined up in Mexico," he says.
Mexico presents real dangers for investors, however. Authorities have accused crime groups of stealing municipal electricity lines to melt down and sell as copper prices have risen; Mexico's state-run oil monopoly Petróleos Mexicanos says the Zetas gang has made off with large quantities its of oil annually—a commodity seemingly more difficult to steal than gold bars.
Goldcorp says it hasn't had any problems with drug gangs, but is still taking precautions, such as building an airstrip in Los Filos which will allow gold bars to be flown out of the site to refineries rather than pass through Mexican highways.
Another risk relates to the price of gold itself: While buoyed now as an investment safe haven, prices could fall during the life spans of the new Mexican mines. Companies argue that most major Mexican projects were planned before gold prices hit their peak and therefore protected from a dip in price. But they still warn about the need to keep production costs low in the event of a price change.
"If you are a miner that wants to stay, you need to plan to be not just a part of this cycle, but others cycles too," said Armando Ortega, who heads the Latin America division of Canadian firm Newgold Inc.
Write to Nicholas Casey at nicholas.casey@wsj.com
A version of this article appeared July 18, 2012, on page B1 in the U.S. edition of The Wall Street Journal, with the headline: In Mexico, Gold Mines Beckon
| |
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| From: Rob J23 | 7/19/2012 10:35:06 AM | | | | | | Pan American Fertilizer (CNSX: PAF)
Announces plans to move forwarded with NI 43-101 Compliant Resource Reserve calculations
(via Thenewswire.ca)
VANCOUVER, BRITISH COLUMBIA, July 19th, 2012 - Pan American Fertilizer Corp, (CNSX: PAF) ("Pan American" or the "Company") announces that the Company is moving forward with plans for drilling and sampling on its Estela Ceclilia property in Santiago Del Estero, Argentina with a view to establish NI 43-101 compliant resource calculations.
"Pan American's Management understands the importance of defining the size and scope of the mineralized material found on our property. As we've previously announced, we are already extracting and selling our product, so the natural next step is to formally confirm the resource calculation compliant with NI 43-101 methodology, " commented Randy Wright, President and CEO of Pan American.
About Pan American Fertilizer Corp.
Pan American is a Canadian company dedicated to providing fertilizer to a growing global market. The company is focused on the extraction of a specific type of fertilizer called calcium sulphate (also referred to as "Agricultural Gypsum"). To ensure long term development and increase shareholder value, Pan American currently plans to significantly expand its current operational objectives while expanding its asset base by acquiring additional calcium sulphate and other fertilizer related assets.
When used as a fertilizer and as a soil remediator, calcium sulphate is a soft sulfate mineral composed of calcium sulfate dihydrate which is extremely rich in sulphur and calcium. When dissolved in water, the mineral becomes calcium and sulphate sulphur ions, both of which are required nutrients for plants. Calcium sulphate plays a vital role in establishing and maintaining good chemical balance in soil, water and plants, specifically with healthy root development. Ultimately, calcium sulphate increases overall crop quality and yields.
On behalf of the board of directors of Pan American Fertilizer Corp.
"Randy Wright"
Randy Wright
President and CEO
FOR MORE INFORMATION, PLEASE CONTACT:
Jeff French
Investor Relations
jfrench@pafertilizer.com |
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| From: Rob J23 | 7/23/2012 10:12:39 AM | | | | | | Stornoway to Commence Bulk Sampling of Renard 65 Kimberlite
MONTREAL, QUEBEC--(Marketwire - July 23, 2012) -Stornoway Diamond Corporation (TSX:SWY) is pleased to announce that it will shortly commence a 5,000 tonne bulk sample program of the Renard 65 Kimberlite pipe, located at Stornoway's 100% owned Renard Diamond Project in north-central Quebec.
The objective of the bulk sample program is to collect a large enough parcel of diamonds to allow the conversion of material that is currently classified as an Inferred Mineral Resource to an Indicated Mineral Resource and then, if warranted, to a Mineral Reserve. Five thousand tonnes will be acquired from a previously opened trench where the R65 kimberlite is exposed at surface at its northern extent, and will be processed initially at Stornoway's 10 tonne per hour dense media separation plant located at the project site. Final diamond recovery will be conducted at Stornoway's North Vancouver lab facilities. The program is budgeted at C$2.5million, and is scheduled to be completed by the end of the year. Given previously measured grades at the sampling site, it is expected that approximately 1,000 carats of diamonds will be recovered, which will be sent to Antwerp, Belgium for valuation.
Matt Manson, President and CEO, commented: "The Renard 65 bulk sample program announced today offers the opportunity to add a large tonnage of open pit reserves to the Renard mine plan. Renard 65 is the largest of the project's kimberlites, and although its grade is lower than Renard 2 and 3, its diamond characteristics are similar and it is easily accessible from surface. The cost of developing an open pit at Renard 65 is already included in the Renard Feasibility Study, as a borrow pit for backfill waste required in the underground mine, and as a sump for water management. However, as an Inferred Mineral Resource, ore extracted from this pit is excluded from the Feasibility Study's production schedule. The upgrading of Renard 65's resource classification this year is expected to add value to the project by allowing an immediate expansion of planned processing capacity from 6,000 to 7,000 tonnes per day, and by extending the reserve mine life beyond the current 11 years. Renard has a considerable resource upside potential, and this sampling program will allow us to pursue the project's continued growth as we work towards final project financing."
In November 2011, Stornoway released the first National Instrument ("NI") 43-101 compliant Mineral Reserve estimate for Renard of 18.0 Mcarats (representing 23.0 million tonnes at an average grade of 78 carats per hundred tonnes, or "cpht") at a weighted average diamond valuation of US$180/carat. The project's Inferred Mineral Resources comprise an additional 17.5 Mcarats (31.1 Mtonnes at an average grade of 56 cpht), and targets for further exploration outside of the Mineral Resource statement have been estimated at between 23.5 and 48.5 Mcarats (55.1 to 75.5 Mtonnes at grades ranging from 23 to 188 cpht). Within this resource inventory, Renard 65 contains an Inferred Mineral Resource of 3.7 Mcarats (representing 12.9 mtonnes at an average grade of 29 cpht) to a depth of 290m, with an exploration potential estimated at between 6.8 and 13.7 Mcarats (29.5 to 41.6 Mtonnes at between 23 and 33 cpht) from 290m to 775m in depth.
The reader is cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. In addition, the potential quantity and grade of any exploration target is conceptual in nature, and it is uncertain if further exploration will result in it being delineated as a mineral resource.
About the Renard Diamond Project
The Renard Diamond Project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of the communities of Chibougamau and Chapais in the James Bay region of North-Central Québec. In November 2011, Stornoway released the results of a Feasibility Study for Renard that highlighted the potential of the project to become a significant producer of high value rough diamonds over a long mine life. NI 43-101 compliant Probable Mineral Reserves stand at 18.0 million carats, with a further 17.5 million carats classified as Inferred Mineral Resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside. All kimberlites remain open at depth. Pre-production capital cost stands at C$802 million, with a life of mine operating cost of C$54.71/tonne giving a 68% operating margin over an initial 11 year mine life. Production start-up is scheduled for 2015. In March 2012 Stornoway entered into the Mecheshoo Agreement with the Cree Nation of Mistissini and the Grand Council of the Crees (Eeyou Itschee) in respect to the Renard Diamond Project, and joined Chibougamau and Chapais in a Declaration of Partnership in July 2012. Readers are referred to the technical report dated December 29, 2011 for further details and assumptions relating to the project. |
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