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What choice did you pick in the poll, I can't see the Poll in Si Polls. And the Poll Link on the board no longer works??
Your right about Sheldon and his shares and warrants, thats a lot of shares and warrants. Erie posted in 2013 about his buy on the MUX Board.
I can't locate it now but I saw the Sprott bought in on a private placement in Ginguro back in 2015 also. The problem with working on a tablet. I try to save this stuff in at least two places so it won't get lost but I cant find the older Sprott PP link anywhere.
But Im guessing it not matter what he purchase before as the newest one says
The Acquisition represents 7.8 % of the currently issued and outstanding Shares on a non-diluted basis and 11.3% on a partially diluted basis.
Things that go Bump in the Night and Disturb the Sound of Silence, then make you Wonder?
Following up on my previous post, in which I had written had asked
With No PR's by Endurance in 2016 on the IVS Private Placements or Inventus appoints Greg Gibson to Board of Directors and Sprott Mining Inc. as operator to manage the Pardo Joint Venture. Mean anything?
I did not receive any feedback on this part of the post. So I'm brining it up again..
I'm intrigued on the way the last IVS PR is worded.
Toronto, Ontario. Inventus Mining Corp. ("Inventus" or the "Company") (TSX.V: IVS) is pleased to announcethat Sprott Mining Inc. (“Sprott Mining”) has agreed to act as operator to manage the Pardo Joint Venture (“Pardo JV”) between Mount Logan Resources Ltd. (“Mount Logan”) and Endurance Gold Corporation (“Endurance”). Mount Logan is owned 100% by Inventus and owns 64.5 percent of the Pardo JV with 35.5 percent owned by Endurance. As operator of the Pardo JV, Mount Logan has arranged with Sprott Mining to act on the company’s behalf to develop a comprehensive bulk sampling program for the Pardo JV property commencing in 2016. A Pardo JV management committee meeting will be convened as soon as practicable to plan and approve the technical aspects of the program.
The way it is written using "JV Property" does this sound like they will be Bulk Sampling just the "JV part" of Pardo, or by using the Term "JV Property" are they are referring to the entire Pardo Project?
Anyones take on this and how it reads in their mind, would be appreciated.
The reason for asking others here for your interpretation, as later in the PR Whymark uses the term Pardo Project.
We are excited that Greg and his team will be taking the Pardo Project to the next level of its development as the first paleo placer gold deposit in Canada”, said Wayne Whymark Chairman and CEO of Inventus.
It sounds to me like the 2016 program will just be working (Bulk Sampling) in the JV section only.
And if so, why has there not been a PR put out by Endurance (ENDGF) ? BUMP
JW I didn't reply before because I didn't have anything to add. I still don't, but since you asked again, it seemed that I should at least say 'My guess isn't any better than yours!' My guess is that the fact that this PR focused on the JV solely doesn't mean that the Operator isn't going to do some bulk sampling and other planning/probing or whatever elsewhere. My other guess is that the fact that Endurance didn't echo the PR may reflect that the relationship between the two companies is still in the toilet. Yeah, I know that's not an excuse to not inform one's shareholders, but given their history . . . . It does seem dumb, however, for Endurance to not let investors know that one of their projects is moving forward. Why not release news that might support the share price!
Actually the Poll answer was the Geiger Counter. There is Uranium content in the Conglomerate (between 10 and 50 parts per million), and since the Conglomerate is covered with a layer of earth and vegetation, (that is removed by Hydo once the Conglomerate is detected) the Geiger Counter is their most valuable exploration tool.
At Pardo, uranium concentrations are known to be closely associated with elevated concentrations of gold in the host conglomerate.
A Quote from a Site Visit I read back then.
But as is the case in the Wits basin, much of the gold mineralization at Pardo is coincident with paleo-placer uranium mineralization in the form of uraninite, so simple hand-held radiometric surveying has proven to be an invaluable technique for finding gold in bedrock under the area’s thin but extensive overburden.During a visit to the property by The Northern Miner in September 2013, Ginguro geologist Winston Whymark scampered across the exposed outcrop at 007 zone, showing how his portable radiometric spectrometer would scream and go off-scale whenever he approached the high-grade gold zones.“We couldn’t have made a better investment than that spectrometer, that’s for sure,” he beamed. “The dots are here, and we’re connecting them.”
Ginguro Acquires Additional 3,400,000 Shares of Canadian Continental as Drilling Starts at Temagami
SUDBURY, ONTARIO--(Marketwired - Aug. 26, 2014) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro" or the "Company") is pleased to provide an update on the company's investment in Canadian Continental Exploration Corporation ("Canadian Continental").
Canadian Continental Temagami Anomaly Exploration Activities - Drilling Resumed
In February of 2014, Canadian Continental began an ambitious drill program of the Temagami anomaly (see Ginguro press release dated February 12, 2014). Two holes over 1,000 meters deep were drilled at that time. They were the first holes ever to succeed in penetrating the cover rocks over the Temagami anomaly. The archean basement rocks encountered under the cover rocks consisted of various volcanic, sub-volcanic and volcano-sedimentary rock types, possibly indicative of an extensive rift environment. However, these volcanic rocks do not explain the massive Temagami magnetic anomaly. The magnetic source is still deeper than the drilling to date.
Geophysical modeling of the magnetic anomaly suggests a depth to source range between 1,500 meters to 2,500 meters vertical. Canadian Continental has started drilling again at Temagami. Hole 14-01, which was ended at 1,071 meters earlier this year and is poised directly above the anomaly, is being deepened in order to intersect the highly magnetic source rocks, which are below it.
The location of the Temagami anomaly is on a regional magnetic and gravimetric trend, which includes the prolific Sudbury Basin. East of Sudbury along this trend the cover rocks make exploration difficult, however mineral deposits have been discovered on the trend such as the Copperfields deposit, one of the highest grade copper deposits ever found in Canada.
Increase in Ginguro's equity investment in Canadian Continental
The Company also announces that it recently executed an amendment to an Asset Purchase Agreement with Canadian Continental, which was previously announced December 17, 2012. Pursuant to that amendment, the outstanding deferred proceeds owing by Canadian Continental of $900,000 have been settled by Canadian continental as follows:
A payment of $50,000 cash to Ginguro; andThe issuance of 3,400,000 common shares of Canadian Continental at a price of $0.25 per share.As a result of this issuance of common shares of Canadian Continental, Ginguro now owns a total of 7,150,000 common shares, representing a 21% stake in Canadian Continental. As the Company also owns 5,000,000 warrants of Canadian Continental exercisable at $0.50, its ownership in that company on a partially diluted basis would be approximately 31%. The Company also owns a 0.5% royalty on future production from Canadian Continental's El Alto property in Chile.
"Canadian Continental's Temagami project is a very ambitious exploration program" remarked Wayne Whymark, Executive Chairman of Ginguro. "Ginguro is proud to be a large shareholder of Canadian Continental and fully supports the effort to intersect the Temagami anomaly."
Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its Pardo paleo-placer gold property, located in Pardo Township in northern Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.
The Qualified Person responsible for the geological technical content of this news release is Richard Murphy, P.Geo, President and CEO of Ginguro Exploration Inc.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Corporation's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Corporation does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Erie & Stem - I agree that ENDGF has been a pain or a thorn in some aspects, most likely since the Ginguro / Investus had to go to arbitration with Endurance back in 2013.
This does not preclude the fact that ENDGF did a lot of the Exploration, and we have heard nothing from ENDGF at all, and it has me wondering WTH is really going on??
Basically I believe they know this "bulk sample" really is not a sample at all. Rather, it is the commencement of the lowest cost per ounce mining operation in the world......
IMO I don't think they will begin full mining operations anytime soon, at least not this year.
Granted Bulk Sampling does involve a rudimentary form of Mining or Trial Mining. DRilling grades thus far are to spoty at this point and Bulk Sampling may give a better overall Average of Grade from an area. Which is Why Sprott Mining will most likely be Bulk Sampling in the JV Area probably, 007 Zone down to the Godzilla Zone, of course I'm just guessing.
A better understanding of the entire project is still required and they have not finished connecting enough dots between the zones yet to push forward with full scale mining operations.
"Sampling of placers is difficult, as placer deposits are typically stratified with increased concentration of values in layers, especially on bedrock. Often the paying layer of bedrock may extend one or more feet into bedrock because of crevices. If the placer values are coarse in size, the nugget effect can be especially bad, making the determination of a true average extremely difficult. Checking placers by fire assay almost always gives misleading (higher than expected) results as the fire assay captures gold within fragments of quartz and other mineralization that normal placer operations simply cannot recover. Good placer sampling requires larger-sized bulk samples and accurate collection of materials from the bedrock or other paying strata such as false bedrock or flood layers. It is also much better to test a placer using recovery methods similar to those that will likely be used when the deposit is mined."
But with Sprott on board, as well as Sprott Mining things are looking up.
I'm awaiting to hear the take on the Management Committee Meeting and the Decesion on Consolidation and also possibly something happening with the JV partnership. Not sure on that last point, but with Sprott Mining coming in, and ENDGF (probably like the rest of the Industry "Brother can you spare a Dime") is probably in need of Capital for other projects in Alaska, Wyoming, Yukon & Dogpaw in Ontario, perhaps there maybe a buyout of the JV portion of Pardo by another entity? (PURE SPECULATION on my part) If I were Endurance Management I would not Let Go.
Who knows what ENDGF thinks of bringing in Sprott Mining, and they getting the Limelight at Pardo? Possibly a reason for no PR's from Endurance ?
Perhaps Sprott Mining will work on Bulk Sampling and Enduance will continue Exploration?
Let's take a look at the PARDO Picture forming, a little dated but helpful.
Above pictures and drawings are from an Endurance Presentation. They perhaps may help in understanding the PARDO Project a little better.
Rhino - Great! I'm glad someone figured out Interrelationship Part 3 ! Of which I had not put final touches on the post , I was just gathering more Info before posting. What I had done thus far: Way to go Rhino!
OK the first company Interrelationship is with a Canadian Company called Canadian Continental. This company was drilling the Temagami Magnetic Anomaly, in an attempt to reach the source.
Ginguro gets first shares of Canadian Continental Ginguro Exploration Enters Binding Letter Agreement in Which Canadian Continental Can Earn a 70% Interest in El Alto Property. Ft Lauderdale, Florida 12/02/2009 transworldnews.com .