Archive for June, 2009

Finlay Minerals Grants Stock Options

The board of directors of Finlay Minerals Ltd. has granted director and consultant stock options aggregating 1.15 million shares exercisable at 10 cents until June 29, 2014, under its stock option plan.

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Finlay Minerals Private Placement

Finlay Minerals Ltd. has closed a non-brokered private placement of $203,750 through the sale of 4,075,000 units at five cents per unit. Each unit consists of one common share and one share purchase warrant, with a term of 60 months and an exercise price of 10 cents until June 22, 2014.

The units will have a hold period expiring Oct. 24, 2009.

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Exploration Program to Focus on Resource Expansion and Evaluation of New Target Areas, Lone Pine Property, British Columbia

Bard Ventures Ltd. (“Bard” or the “Company”) is pleased to announce that field crews have been mobilized to the field to commence its exploration program on the Lone Pine Property, British Columbia. In 2008, an extensive diamond drilling program consisting of 41 holes for a total of 21,557 meters resulted in delineation of a 43-101 compliant resource within the Alaskite Zone (tabulated below). At a 0.04% Mo cut-off there is a measured and indicated resource of 110,340,000 tonnes grading 0.083% Mo containing approximately 200 million pounds of molybdenum.

The 2009 exploration program will initially focus on geological mapping, soil geochemical survey, prospecting and additional detailed geophysical surveys that will evaluate the new target areas to define specific targets for diamond drilling. The main focus will be in the area proximal to the delineated resource which is located on the west side of a non-mineralized Quartz Feldspar Porphyry. The initial program will focus on the south, east, and north sides of this porphyry where the geological environment is favorable for additional molybdenum mineralization at or near surface. If successful, this will result in an expansion of the current resource and the delineation of near surface mineralization that could serve as the source of initial development within the Lone Pine Property.

Lone Pine measured, indicated and inferred mineral resource summary:

  MEASURED
Cut-off % Mo Tonnes ? Cutoff (000’s) Mo% in-situ lbs Mo (000’s)
0.02 43,767 0.078 75,262
0.03 40,450 0.082 73,125
0.04 33,356 0.092 67,654
0.05 26,676 0.104 61,163
0.06 22,486 0.113 56,018
0.07 19,625 0.12 51,919
0.08 17,699 0.125 48,775
0.09 15,853 0.13 45,435
0.1 13,922 0.135 41,435

 

  MEASURED+INDICATED
Cut-off % Mo Tonnes ? Cutoff (000’s) Mo% in-situ lbs Mo (000’s)
0.02 151,536 0.069 232,071
0.03 140,417 0.073 225,193
0.04 110,340 0.083 201,733
0.05 84,869 0.094 176,628
0.06 66,454 0.106 154,890
0.07 54,702 0.114 137,758
0.08 47,583 0.12 125,858
0.09 41,556 0.126 115,132
0.1 34,975 0.131 101,310

 

INDICATED
>Tonnes ≥ Cutoff (000’s) Mo% in-situ lbs Mo (000’s)
107,769 0.066 156,809
99,967 0.069 152,069
76,984 0.079 134,079
58,193 0.09 115,464
43,968 0.102 98,871
35,077 0.111 85,839
29,884 0.117 77,084
25,703 0.123 69,698
21,053 0.129 59,875

 

INFERRED
Tonnes ? Cutoff (000’s) Mo% in-situ lbs Mo (000’s)
27,827 0.084 51,532
27,555 0.085 51,636
25,840 0.088 50,131
22,839 0.094 47,331
18,295 0.104 41,947
15,238 0.111 37,290
13,092 0.117 33,769
11,800 0.121 31,477
10,186 0.125 28,070

A full text version of the Lone Pine Property resource estimate was filed on SEDAR and is available at www.sedar.com under the Company’s profile and can also be found by visiting the Company’s website at www.bardventures.com. The report, dated January 12, 2009, entitled “Resource Estimate Lone Pine Molybdenum Project — Omineca Mining Division, British Columbia”, was prepared by Ronald G. Simpson, P.Geo. of GeoSim Services Inc., a “qualified person” for the purposes of National Instrument 43-101 — Standards of Disclosure for Mineral Projects.

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Canasil Corporate Update

Canasil Resources Inc. has released an update covering the company’s operations and plans for 2009. The operating environment for the resource sector has improved considerably over the first half of 2009. The increasing price of precious metals, a gradual improvement in the price of base metals and significant increase in the price of oil reflect a generally more positive economic outlook.Canasil BC Property Map

This has resulted in significant gains in the share prices of mineral producers, well-financed explorers and those with advanced projects. Smaller explorers, particularly those with limited working capital, have not recovered due to the barriers for raising exploration capital and the potential dilution from raising funds at the current very low share prices.

Given these conditions, the company has focused on reducing operating costs and maintaining its core assets, which are its mineral exploration projects in Durango, Zacatecas and Sinaloa states in Mexico, and in British Columbia, Canada, as well as its operating team in Mexico. The company has an exceptionally well-located and prospective mineral exploration portfolio for gold, silver, copper, zinc and lead in these well-recognized and politically stable jurisdictions, all with exceptional access and infrastructure. This portfolio includes at least three projects with the potential for hosting large gold, silver, copper and zinc mineralized systems, and a number of prospects with the potential for high-grade gold and silver-vein-type mineralization.

The company’s focus during the second half of 2009 will be to maintain and gradually advance its exploration projects. The immediate exploration objective will be to advance the Sandra-Escobar project under the option agreement with Pan American Silver Corp. This project is located in northern Durango state, Mexico, on an important mineral trend with many past and presently producing silver-gold mines and deposits, approximately 75 kilometres west-northwest of Silver Standard Resources’ La Pitarrilla project. It has the potential to host a large gold-silver mineralized system with copper, lead and zinc credits.

The company will also continue to pursue opportunities for option and joint venture agreements to advance its exploration projects. The increasing metal prices and improving economic conditions have resulted in greater interest for joint venture co-operation on the company’s projects, particularly given the desirable location of these projects and the mix of precious and base metal prospects in the company’s portfolio. The company has completed initial exploration and drill programs on the following projects, all of which have returned significant mineralized drill intercepts: Brenda gold-copper porphyry project, B.C., Canada Salamandra silver-zinc project, Durango, Mexico; La Esperanza silver-lead-zinc project, Zacatecas, Mexico; Colibri silver-gold-copper project, Durango, Mexico.

Results from the Brenda and Salamandra projects indicate the potential for hosting large mineralized systems. The La Esperanza and Colibri projects host high-grade epithermal-vein-type systems. In addition to the above projects, the company has a further eight earlier-stage exploration projects, two in British Columbia, Canada, and six in Durango and Sinaloa states, Mexico.

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Serengeti Announces Larger Summer Drilling Program on Kwanika and High Priority Regional Targets

Serengeti Resources has increased its exploration budget for this summer’s drilling program, now scheduled to start at the Company’s 100% owned Kwanika copper-gold property on or about June 20th. The budget for the summer program has been increased by 20% to $3.1 million, and this, together with lower prices for 2009 project work, will enable Serengeti to drill approximately 6,750 meters in 27 holes, testing nine exploration targets across four properties. In addition, joint venture partner Newcrest Mining BC Limited has received approved work permits for a separate 2,400 meter drill program on Serengeti’s Croy Bloom property.

The following table summarizes the number of holes, meters and targets on each property.

2009 Discovery Opportunities

Property

Holes

Meters

Targets

Commodity

Kwanika Central

12

3,400

4

Cu Au Mo

Kwanika South

5

1,000

2

Cu Au Mo

Osilinka

5

1,000

1

Cu Au Ag

Mil

3

750

1

Cu Au

Choo

2

600

1

Cu Au

Croy Bloom (Newcrest)

4

2,400

3

Cu  Au

Total

31

9,150

12

Cu Au Mo Ag

The drilling program will start on the Kwanika property where approximately half of the program will test:

  • High priority targets around the Central Zone where an Indicated Resource of 75 million tonnes grading 0.41% copper and 0.42 g/t gold was announced on February 25, 2009, (see NR 2009-04).
  • Step-outs to the South Zone where 2008 drilling in 14 holes returned an average of 0.36% copper, 0.13 g/t gold and 0.01% molybdenum over an average 82 meter composite intercept. The objectives of the drill program are to significantly expand the known mineralized zones and search for new centers of good grade copper-gold-molybdenum mineralization.

The balance of the drill program funded by Serengeti is as follows:

  • 1,000 meters on two other targets in the very large Kwanika block, including three holes on a strong copper-molybdenum geochemical response coincident with an induced polarization (IP) geophysical anomaly 10 km south of the Central zone, and two holes on a copper-gold target at the southern end of the claim block.
  • 1,000 meters in five holes to test a highly attractive copper-gold-silver geochemical and coincident IP anomaly on the Osilinka block located 35 km north of Kwanika.
  • 750 meters in three holes testing a target with attractive IP geophysical and gold geochemical results on the Mil property located 15 km west of the Mt. Milligan copper-gold deposit. The Mil property is currently held in a 50-50% joint venture with Fjordland Exploration Inc. Serengeti will fund the 2009 drilling and earn additional ownership in the Quest JV including Mil.
  • 600 meters in two holes testing a very large IP anomaly on the Choo property. Drilling in the vicinity in the 1990’s by a previous owner showed anomalous copper-gold mineralization. Exploration data recently purchased by Serengeti from Amarc Resources Ltd also indicates two additional IP geophysical targets (coincident in one case with a copper geochemical anomaly) on the Choo property and follow up is planned on these new targets this season.

In addition to the program funded by Serengeti, Newcrest Mining BC Limited has received approved work permits for a four hole deep drilling program on Serengeti’s Croy Bloom-Davie Creek property located 85 kilometers south of the Kemess mine.

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Alpha Gold Prepares for 2009 Program

 

Alpha Gold today announced that a drill program of approximately 5,000 metres is slated to begin in early August 2009. Exploration in 2009 will initially focus on the Canyon Creek Skarn (“CCS”). The goal of the 2009 exploration program is to focus on targets that indicate the potential for new discoveries and some infill drilling that, if successful, will result in expanding the current resource and possibly demonstrating continuity or expansion of other zones.

The design and logistics of 2009 field program will be finalized when all historical property data has been completely integrated into the drilling database and will commence when ground conditions permit. “Once permits are in place and drill targets have been finalized, we will have a drill turning on the property,” explained Richard Whatley, President and CEO. Geophysical, geochemical and geological data are being compiled by Hungry Hill Geological Ltd., the Company’s new Geological Consultant, and all historical data re-analyzed in order to generate targets in and around the CCS and the Glover Stock. Diamond drilling using NQ core size on the CCS will focus on three priority areas: (i) infill drilling to better establish the resource parameters of CCS mineralized body needed for an NI 43-101 resource calculation; (ii) new step-out targets that have the potential to extend the existing CCS mineralized zone; and (iii) test drilling skarn-like geophysical and geochemical anomalies that have been, and may still be, identified.

During this season, aerial orthophotography of the Lustdust Property and real time GPS surveying of all drill collars are proposed which will add to the reconnaissance for advancing the potential of the CCS. The total cost of the 2009 drill program is estimated to be C$1.3 million. There is C$3 million in the treasury. It is expected that upon completion of the 2009 drill program, a stand alone resource estimate can be reinitiated on the CCS. Earlier work on an NI 43-101 compliant estimate was discontinued due to insufficient drill data and downhole geophysics to meet NI 43-101 criteria.

 

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Welcome to Omineca Gold District!

This site is about the developing Area Play in the Omineca Region of central British Columbia, particularly the Todoggone area. Since it is so hard to spell Toogogone (or was that Todoggone) for simplicity of spelling the website address is ominecagolddistrict. This website will make everyone’s life easier by giving a snapshot of the the publicly listed mineral producers and explorers in the Todoggone region. The under-explored and mineral rich Toodoggone region has stong potential for the development of an area play down the road. There is currently one operating mine in the Todoggone: the Kemess Mine, but many important mineral exploration projects. The region is plentiful in copper, gold and molybdenum mineralization mostly associated with the Quesnel Trough which runs the length of British Columbia from the northwest to the south and is associated with many present and past producing mines.

Map of the Omineca Region of British Columbia

Map of the Omineca Region of British Columbia

This site will be updated daily with news releases, if any, and items of interest. There are also gold and copper sections, the main commodities produced or explored for in the Toodoggone region, gold being number one of course. Please bookmark this site or check back daily!

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