Posts Tagged Omineca

LORRAINE COPPER ANNOUNCES CREW MOBILIZED TO THE LORRAINE COPPER GOLD PROJECT

Lorraine Copper Corp. has commenced the 2010 exploration program at the Lorraine project, which is being managed by Teck Resources Ltd. under a participation agreement with Lorraine Copper. The Lorraine property is located in the Quesnel terrane approximately 250 kilometres northwest of Prince George, B.C.

Teck has informed the company that it will be conducting a target generation program entailing the establishment of new soil geochemical surveys that will employ new techniques for seeing through overburden cover similar to what has been used successfully at the Kwanika Creek deposit to the south. It will also conduct a re-examination of existing drill core to apply newly developed alteration study parameters that have proven successful in other similar deposits to assist vectoring towards undiscovered mineralization.

Mineralization on the Lorraine property is related to alkalic intrusions and belongs to a deposit style that includes the Galore Creek project owned by Teck and NovaGold Resources Inc., the Imperial Metals Corp.-owned Mount Polley mine and the New Gold Inc.-owned New Afton project.

The Lorraine property is well served by resource infrastructure, including all-season roads, the Kemess power corridor to the northeast and the Canadian National Railway line to the southwest. The Lorraine project is located approximately 100 kilometres northwest of Terrane Metals Corp.’s Mt. Milligan project. A highlight from Teck’s most recent drill program in 2008 at Lorraine is drill hole L08-120, which intersected 159.2 metres grading 0.64 per cent copper and 0.30 gram per tonne gold in the Lower Main zone. The property consists of 119 claims totalling 30,659 hectares (75,759 acres).

Teck may earn a 51-per-cent interest in the Lorraine project by spending a total of $9.0-million by Dec. 31, 2010, and may increase its interest to 60 per cent by completing a feasibility study and to 65 per cent by arranging production financing. It is anticipated that Teck will earn the initial 51-per-cent interest after the completion of this year’s program.

On Sept. 11 of this year, Lorraine Copper staked an additional seven mineral claims (3,029 hectares) contiguous to the western side of the property.

G.L. Garratt, PGeo, is the qualified person who has reviewed and takes responsibility for this news release.

, , , , ,

No Comments

Tad samples up to 0.14 m of 52.48 g/t Au at Hazelton

TAD Capital Corp. has completed the 2009 program on the north zone of the Hazelton prospect. Work consisting of geological, geochemical and geophysical surveys has resulted in several new high-grade gold discoveries and increased the area of known gold mineralization on the property to 1,400 metres by 800 metres.

The program focused on evaluating the extent of mineralization near the margins of a granitic stock. Numerous gold-bearing veins are present in three areas situated along the perimeter of a Cretaceous stock, which measures 600 metres in diameter. Indications are that the stock is part of a larger intrusive body mapped digitally by the Geological Survey of Canada in 2008. The composition of the concealed intrusion is unknown but judging from surface exposures it ranges from granite to granodiorite and includes monzonite phases and rhyolite dikes.

Gold mineralization on the property conforms to a broadly defined intrusion-related class of deposits with gold mineralization hosted within a thermal aureole. The distinctive features of this class of gold deposits are sheeted arrays of parallel, single-stage quartz veins which are found over tens to hundreds of metres and preferentially located in the pluton’s cupola. These types of veins are also described as reduced intrusion-related gold systems represented by the Fort Knox, Pogo, Donlin Creek and Dublin Gulch deposits in Alaska and the Yukon.

Past work had recognized that the sulphide mineralogy of individual veins varies along strike and possibly along the dip direction. Sulphide content ranges from 2 to 45 per cent, and consists mainly of arsenopyrite (up to 30 per cent) and pyrite (up to 30 per cent).

The mineralization observed to date has two mineralogical characteristics that impact the precious-metal grades: mineralization dominated by arsenopyrite-pyrite-banded intergrowths; and mineralization dominated by banded arsenopyrite with minor pyrite-galena-sphalerite-tetrahedrite at the vein margins.

Locally, the veins carry small amounts of copper sulphides that include tetrahedrite. This mineral association is of particular significance and has returned a high-grade gold of up to 52.48 grams per tonne gold in one sample.

Camp area

In the Camp area, there are a minimum of 13 quartz-sulphide veins present over an area measuring 150 by 200 metres. The area is situated between two deeply incised creeks named West Creek and East Creek. Work completed in 2009 resulted in the exposure of six new veins.

The majority of the veins strike northwesterly and have gentle dips to the northeast with true widths ranging from six to 47 centimetres. One of the newly found mineralized zones consists of two 25-centimetre-thick veins separated by a 30-centimetre zone of altered monzonite host rock. The veins were exposed in a 0.8-metre-by-one-metre trench and sampled across a 0.8-metre width. This site returned 1.91 grams per tonne gold and 8.0 grams per tonne silver (sample 723372).

Two veins in close proximity to each other have been exposed by shallow trenches (samples 723351 and 723352). The vein dipping gently to the north (723351) contained 20 per cent sulphides with arsenopyrite being the dominant sulphide. The vein dipping gently to the northeast contained relatively high pyrite and lesser arsenopyrite (723352). The latter vein returned 52.48 grams per tonne gold and greater than 100 grams per tonne silver.

Re-exposure of a 1988 trench has resulted in the documentation of a 127-metre-long quartz-sulphide vein striking 346 degrees. Several locations along this trench were re-excavated using hand tools and then sampled. The vein is dipping to the east-northeast at a 44-degree angle and ranges in width from 15 to 35 centimetres. Four channel samples returned an average weighted content of 3.74 grams per tonne gold and 9.13 grams per tonne silver. One sample from a silica-sulphide cemented fault fracture returned 3.62 grams per tonne gold and 6.4 grams per tonne silver across six centimetres.

, ,

No Comments

Serengeti Expands Potential of South Zone at Kwanika

Serengeti Resources reports the additional results from this summer’s exploration program at the Company’s Kwanika property in British Columbia.

Two new mineralized intercepts from drilling on the South Zone indicate that the South Zone extends to considerably greater depth than has been previously noted. The drilling has also shown that the South Zone, which abuts against a fault on the west side, the “West Fault”, is open to the south and east as well as to depth. More drilling is underway to expand the South Zone.

The results include a deep intercept grading 0.43% copper, 0.02 g/t gold, 2.0 g/t silver and 0.049% molybdenum (0.80% copper equivalent) over 65.5 meters in hole K-136 and in hole K-124, 0.36% copper, 0.01 g/t gold, 1.4 g/t silver and 0.007% molybdenum (0.43% copper equivalent) over 58 meters. The intercept from hole K-124 is additional to the previously reported 242.5 metres of mineralization.

Drill Holes K-09-124, K-09-129 to K-09-137 Significant Analytical Results

Hole

From (m)

To (m)

Interval (m)

Copper %

Gold g/t

Silver g/t

Mo %

Copper Equiv. %*

Gold Equiv. g/t*

Zone

Orientation (dip/azimuth)

K-124

259.5

622.0

362.5

0.35

0.04

1.7

0.014

0.49

0.84

South

Vertical

Incl. 259.5**

502.0

242.5

0.41

0.05

2.1

0.018

0.58

1.00

And 564.0

622.0

58.0

0.36

0.01

1.4

0.007

0.43

0.73

K-136

412.0

440.0

28.0

0.09

0.00

0.6

0.008

0.15

0.26

South

-65º / 90º

502.0

677.5

175.5

0.26

0.01

1.1

0.024

0.44

0.76

Incl. 524.0

589.5

65.5

0.43

0.02

2.0

0.049

0.80

1.37

And Incl. 660.0

677.5

17.5

0.33

0.01

0.8

0.003

0.36

0.63

K-130

80.0

82.0

2.0

0.17

0.22

1.6

0.017

0.43

0.74

East

-60º / 270º

K-132

91.8

97.9

6.1

0.47

0.14

0.9

0.003

0.58

1.00

North

-65º / 90º

K-133

Incl. 140.3

249.1

108.8

0.04

0.01

0.1

0.000

0.05

0.08

North

Vertical

K-129, 131, 134, 135, 137 indicated NSV

*Copper and Gold Equivalent calculations use metal prices of US$1.75/lb for copper, US$12/lb for molybdenum, US$700/oz for gold and US$12.50/oz for silver and both assume metallurgical recoveries and net smelter returns of 100%. Copper (Cu) EQ = Cu% + (Mo% x 12/1.75) + (Au g/t x 12.86/22.06) + (Ag g/t x 0.23/22.06). Gold (Au) EQ = Au g/t + (Cu % x 38.60/22.5) + (Mo% x 264.72/22.5) + (Ag g/t x 12.50/700).
** Previously Reported.

“The drilling reported on here adds size and depth to the South Zone and clearly indicates major expansion potential to the south and east.” stated President and CEO David Moore. “Hole K-136 in particular has returned excellent grades adjacent to the West Fault on the South Zone. Recent geological and geophysical modeling has traced this newly identified fault six kilometers to the south, opening up a large area for future exploration. We are very encouraged by the newly demonstrated potential at depth in the South Zone as indicated by holes K-124 and K-136. We are currently drilling several additional holes testing this potential.” added Moore.

South Zone Drilling (K-124, and K-135 to 137): Shallow drilling prior to Serengeti’s exploration suggested a limited resource that required more testing. Serengeti’s recent work has indicated the potential for expansion is wide open. Vertical drill hole K-124, the upper portion of which was previously reported (see NR 2009-08 dated August 26, 2009) was deepened and as noted above an additional mineralized interval grading 0.36% copper, 0.01 g/t gold, 1.4 g/t silver, 0.007% molybdenum (0.43% copper equivalent) over 58.0 meters was intersected. The overall mineralized intercept in K-124 now grades 0.35% copper, 0.04 g/t gold, 1.7 g/t silver, 0.014% molybdenum (0.49% copper equivalent) over 362.5 meters. K-136, an angle hole drilled from the west, drilled though the West Fault and then encountered a 175.5 meter mineralized interval to the bottom of the hole at 677.5 meters, including an interval assaying 0.43% copper, 0.02 g/t gold, 2.0 g/t silver, 0.049% molybdenum (0.80% copper equivalent) over 65.5 meters. Due to orientation and deviation of the drill hole, the intercept in K-136 lies on the same section as K-124.

K-135 which was unmineralized was a west-directed angle hole drilled from the collar of K-124 and helped define the West Fault. K-137 was drilled off the north end of the South Zone and was not mineralized.

North Area Drilling (K-131 to 134): Hole K-131, 132, 133 were drilled in the vicinity of previously reported hole K-08-122 which intersected 0.42% copper, 0.06 g/t gold, over 76.2 meters, approximately one kilometer north of the Central Zone resource. These three recent holes demonstrate that the K-122 area is structurally complex, with the best interval, 0.47% copper, 0.14 g/t gold occurring over 6.1 meters in hole
K-132 and a broad zone of anomalous copper intersected in K-133. Hole K-134 which was drilled off the north east end of the Central Zone was unmineralized.

East Area Drilling (K-129 and K-130): Two holes were drilled in the north-east quadrant of the property, with K-130 encountering a narrow mineralized interval grading 0.17% copper, 0.22 g/t gold over 2 meters immediately below unexpectedly deep overburden. K-129, drilled 1.4 kilometers to the south did not intersect significant mineralization.

Drill Program Summary Drilling has now been completed on Serengeti’s Osilinka property and results will be released when available. Drilling has now resumed at the South Zone at Kwanika, after which the drill will be moved to test attractive targets on the Choo and Mil properties.

, , , ,

No Comments

Drilling at Zymo Copper-Gold Project Significantly Expands Mineralized Zone

Eastfield Resources and Canadian Gold Hunter are pleased to announce that results have been received from the recently completed drilling program on the Zymo copper-gold property 45 kilometres west of Smithers, BC. Four holes were drilled at the Hobbes Zone and one hole tested a showing in the FM Zone. All holes intersected mineralization.

Three holes (ZY-09-13, 15, 16) drilled at the Hobbes zone were each 100 m step-outs to the west and resulted in extending the zone which now measures over 600 m in an east-west direction and remains open-ended. The most westerly hole, ZY-09-16 intersected the longest interval of mineralization to date indicating potential for extension to the west and south. Hole ZY-09-14 was a vertical hole drilled at the site of previously released holes ZY-08-9 (72.0 m of 0.72% copper and 0.54 g/t gold) and ZY-08-10 (57.0 m of 0.43% copper and 0.32 g/t gold) and confirmed that mineralization continues to greater depths at this location where a mineralized interval of 273 m was intersected. A summary of significant results is as follows:

HOLE ID FROM (m) TO (m) INTERVAL (m)* Cu (%) Au (g/t)
ZY-09-13 3.0 428.0 425.0 0.15 0.09
including 255.0 381.0 126.0 0.20 0.15
ZY-09-14 3.0 276.0 273.0 0.23 0.15
including 9.0 108.0 99.0 0.36 0.25
including 33.0 93.0 60.0 0.44 0.30
ZY-09-15 33.0 441.0 408.0 0.21 0.11
including 87.0 153.0 66.0 0.33 0.20
including 297.0 318.0 21.0 0.31 0.18
ZY-09-16 30.0 369.0 339.0 0.23 0.13
including 139.0 330.0 171.0 0.31 0.18
including 201.0 279.0 78.0 0.41 0.26
ZY-09-17 9.0 42.0 33.0 0.13 0.11

(*Intervals are core lengths and true widths may be less than reported here.)

The Zymo property is underlain by an alteration/sulphide system of over 8.0 km long and 2.0 km wide which hosts several mineralized targets including the Hobbes and FM. Fill-in soil geochemical sampling was carried out on the URC target which lies 1.5 km west of the Hobbes Zone and confirmed a 1.5 km long coincident copper-gold anomaly. This target is beyond the end of the geophysical grid and prospecting found no outcrops however a sample of mineralized float returned 0.33% copper and 0.22 g/t gold. This target further expands the discovery potential for the property.

CGH has the option to earn a 60% interest in the property by completing exploration expenditures of $4 million over five years. CGH may earn an additional 10% interest by completing a feasibility study and an additional 5% by arranging mine financing for Eastfield.

G.L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. Bob Johnston, P. Geo., also a qualified person within the context of National Instrument 43-101, supervised the project work in the field. Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-MS) Aqua Regia Digestion (1D) procedures, with gold and silver values determined using fire assay procedures.

, ,

No Comments

First Phase of 2009 Exploration completed on the Lone Pine Molybdenum Property

Bard Ventures is pleased to provide this update on the 2009 exploration on the Lone Pine Molybdenum Property. The Property is located approximately 15 kilometers northnorthwest of Houston, BC, and is situated in the Omineca Mining Division. The initial phase of compilation of all historic exploration work, geological mapping, soil and rock sampling has been completed.

A grid was established and cut over an area of 1.1 km x 1.0 km with lines at 100m spacing and sample sites every 25m. The location of the grid coverage is over the area to extend the known Alaskite Zone and also cover a favorable geological area for additional molybdenum mineralization identified by the compilation of historic work, geological mapping and the recently completed 3-Dimensional IP and magnetic surveys. The 2009 mapping identified the location of the favorable geological units including new areas of Alaskite and granites hosting molybdenum mineralization. The historic workings of interest, including trenches and drill holes, were all located in the field and surveyed. A total of 480 soil samples were collected at 25m intervals over the newly established grid.

This initial 2009 field program was very successful in locating historical mineralized showings and their location relative to the current grid, locating the margin of the coarse grained granite with the surrounding hornfelsed volcanics along the southern and eastern contacts, the location of mineralized float samples of medium grained granite to the east of the main granite body. Final assay results of the soil and rock samples and interpretation will determine potential drill target locations.

The Lone Pine Property has a calculated measured and indicated resource at a 0.04% Mo cutoff of 110,340,000 tonnes grading 0.083% Mo containing 201,733,000 in-situ pounds of molybdenum. (Please refer to News Release dated January 22, 2009 for full resource disclosure).

The Property has an ideal location for operations with established infrastructure including:

  • Highway 16;
  • a natural gas pipeline;
  • a major hydro power transmission line and transformer sub-station; and
  • is located only 15 kilometers from the CN rail line in Houston, BC.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006). The Lone Pine exploration work is being conducted under the supervision of Qualified Person Jim Miller-Tait, P.Geo., a Director of Bard.

,

No Comments

Serengeti Intersects 0.78% Copper Equivalent over 150 meters in South Zone at Kwanika

Serengeti Resources is pleased to announce the results from the initial five holes drilled in the course of this summer’s exploration program at the Company’s Kwanika property in BC.

The results include a near surface intercept grading 0.51% copper, 0.14 g/t gold, 2.7 g/t silver and 0.024% molybdenum (0.78% copper equivalent) over 150.3 meters in hole K-126. This is the best hole drilled to date on the South Zone which is located approximately two kilometers south of the Central copper-gold Zone at Kwanika, that was the subject of a NI 43-101 mineral resource estimate in March 2009.

Drill Holes K-09-124 to K-09-128 Significant Analytical Results

Hole

From
(m)

To
(m)

Interval
(m)

Copper
%

Gold
g/t

Silver
g/t

Moly
%

Copper
Equiv. %

Gold
Equiv. g/t

Orientation
(dip/az)

K-124

126.6

228.0

101.4

0.05

0.03

0.2

0.033

0.30

0.51

Vertical

Incl. 189.9

196.0

6.2

0.05

0.32

0.0

0.372

2.79

4.78

259.5

502.0

242.5

0.41

0.05

2.1

0.018

0.58

1.00

Incl. 290.3

502.0

211.7

0.44

0.05

2.3

0.019

0.63

1.07

Incl. 423.5

463.0

39.6

0.65

0.07

3.1

0.028

0.92

1.57

K-125

71.8

122.2

50.4

0.23

0.05

1.3

0.005

0.31

0.53

-80º / 90º

Incl. 103.3

122.2

18.9

0.39

0.08

2.6

0.010

0.53

0.91

165.3

186.8

21.5

0.21

0.14

2.0

0.003

0.33

0.57

306.3

363.5

57.2

0.13

0.21

1.7

0.002

0.28

0.49

K-126

77.0

227.3

150.3

0.51

0.14

2.7

0.024

0.78

1.35

-70º / 90º

Incl. 86.2

101.3

15.1

0.78

0.25

1.9

0.025

1.12

1.92

And 121.4

146.1

24.7

0.58

0.25

2.7

0.044

1.06

1.81

And 189.8

197.2

7.5

1.42

0.12

9.0

0.009

1.65

2.82

K-127

64.7

121.3

56.6

0.33

0.09

2.2

0.030

0.61

1.07

-65º / 90º

Incl. 98.9

121.3

22.4

0.45

0.13

3.2

0.061

0.98

1.68

158.7

173.1

14.4

0.19

0.06

1.6

0.002

0.26

0.44

272.7

283.0

10.4

0.72

0.00

3.4

0.021

0.90

1.54

K-128

No significant values

Vertical

*Copper and Gold Equivalent calculations use metal prices of US$1.75/lb for copper, US$12/lb for molybdenum, US$700/oz for gold and US$12.50/oz for silver and both assume metallurgical recoveries and net smelter returns of 100%. Copper (Cu) EQ = Cu% + (Mo% x 12/1.75) + (Au g/t x 12.86/22.06) + (Ag g/t x 0.23/22.06). Gold (Au) EQ = Au g/t + (Cu % x 38.60/22.5) + (Mo% x 264.72/22.5) + (Ag g/t x 12.50/700).

Drill sections and a 3D model can be viewed at www.corebox.net or by following a link on the Company’s website at www.serengetiresources.com

“These new intercepts greatly increase the potential of the South Zone at Kwanika” stated Serengeti’s President & CEO, David Moore. “This drilling indicates that a near surface copper-molybdenum-gold-silver upper zone appears to increase in grade towards a west-bounding fault and is underlain, at least locally, by a significant lower copper-molybdenum-silver zone that remains open to depth. Follow-up drilling is planned in the current program to further test the significance of these zones” amplified Moore.

All of the holes reported on here were drilled testing extensions of the South Zone where prior drilling by Serengeti and by previous explorers has intersected mineralization along 1,800 meters of strike length. The average composite intercept of the fourteen holes drilled previously in the South Zone by Serengeti is 0.36% copper, 0.13 g/t gold, and 0.013% molybdenum over 82 meters. Four of the holes reported here were drilled along 375 meters of strike length on the west side of the South Zone; three of these intersected significant mineralization, with the fourth hole intersecting weaker mineralization. A fifth hole, K-128 was drilled off the north end of the zone and was not mineralized.

K-126: Intersected a 150.3 meter near surface interval grading 0.51% copper, 0.14 g/t gold, 2.7 g/t silver, 0.024% molybdenum (0.78% copper equivalent). This hole was drilled 200 meters west of prior hole K116 which intersected 0.39% copper, 0.10 g/t gold, 2.7 g/t silver, 0.013% molybdenum over 113.7 meters indicating continuity to the mineralized zone.

K-124: Collared 125 meters north of K-126 intersected what is interpreted to be a lower mineralized zone grading 0.44% copper, 0.05 g/t gold, 2.3 g/t silver, 0.019% molybdenum (0.63% copper equivalent) over 211.7 meter. This lower zone remains open at the bottom of the hole at 502 meters depth and is interpreted to be truncated to the west by a steep west-dipping fault. K-124 was subsequently deepened to a final depth of 642 meters and additional mineralization was observed in the hole to a depth of approximately 620 meters. Assays for this portion of the hole will be reported when available. An upper mineralized zone on this same section was intersected in previously reported hole K-110 and grades 0.27% copper, 0.26 g/t gold, 1.7 g/t silver and 0.007% molybdenum over 239.8 meters.

K-127, K-125: K-127 collared 125 meters north of K-124, intersected a 56.6 meter near surface interval grading 0.33% copper, 0.09 g/t gold, 2.2 g/t silver and 0.030% molybdenum (0.61% copper equivalent) including a 22.4 meter interval grading 0.45% copper, 0.13 g/t gold, 3.2 g/t silver and 0.061% molybdenum (0.98% copper equivalent) and indicates that the better grade zone remains open to the north. K-125 collared 110 m to the south of K-126, intersected several intervals of weaker mineralization and indicates that at least locally, the better grades encountered in K-126 diminish towards the south.

Elsewhere, drilling continues, testing regional targets at the south end of the Kwanika claim block after a break due to elevated forest fire risk. From here the drill will be moved to the Osilinka property, located 35 kilometers north of Kwanika. The planned drill program at Serengeti’s Croy Bloom project, funded by Newcrest Mining, has been deferred for this year due to First Nations’ access issues and the joint venture partner, Newcrest, has been granted an extension to allow time to resolve these issues.

, , ,

No Comments

GGL Diamond Approves Name Change to GGL Resources Corp.

GGL Diamond Corp. (GGL) is pleased to announce the appointment of Mr. Wayne Spilsbury to the board of directors. Mr. Spilsbury received his B.Sc. (Honors Geology) in 1973 from the University of British Columbia and his M. Sc. (Honors Geology) in 1982 from Queens University in Ontario. He brings over 35 years experience in mineral exploration and management, including 28 years with Teck Cominco Limited and was their former General Manager, Exploration – Asia Pacific. Wayne has worked throughout Western Canada, the United States, Asia and Australia; he is a Member of the Association of Professional Engineers and Geoscientists of British Columbia and a Fellow of Australasian Institute of Mining and Metallurgy.

Returning directors are Graham Eacott, Nick DeMare, Raymond A. Hrkac and William Meyer. William Boden has stepped down from the board of directors to enable him to concentrate on other companies of which he is a founder. The Company thanks him for his most valuable contributions and we wish him well.

Based on the recommendation of the Board’s Compensation Committee, the directors approved the granting of 4,475,000 options at an exercise price of $0.10 per share exercisable until August 19, 2014. The options were granted to directors, officers, consultants and employees of the Company.

Shareholders voted in favor of the name change to GGL Resources Corp., the appointment of D+H Group LLP as auditors of the Company for the ensuing year, and approved the annual ratification of the Company’s 10% rolling stock option plan.

Private Placement

GGL has had an initial closing of its non-brokered private placement originally announced on July 17, 2009. A combination of flow-through units at a price of $0.06, (changed from $0.08), per unit and non-flow-through units at a price of $0.06 per unit will be sold. Each flow-through unit will consist of one flow-through common share and one half of one non-transferable non flow-through warrant. Each whole warrant will entitle the holder to purchase one non flow-through common share for one year from the closing date at $0.10 per share.

In the initial closing 1,776,000 non flow-through units at $0.06 per unit were placed for gross proceeds of $106,560. Each non flow-through unit consists of one non flow-through common share and one half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one non flow-through common share until August 20, 2012 at $0.10 per share in the first year, $0.20 per share in the second year and $0.30 per share in the third year. The securities have a hold period until December 21, 2009.

If GGL’s common shares trade on the TSX Venture Exchange at a closing price greater than $0.50 per share for twenty consecutive trading days at any time after four months and one day from the closing date, GGL may accelerate the expiry of the warrants by giving notice to the holders thereof, and in such case the warrants will expire on the 30th day after the date on which such notice is given. GGL may pay a finder’s fee to eligible finders of purchasers of units. Such fees will be paid in non flow-through common shares.

The proceeds from the sale of the units will be used for exploration work on the PGB gold areas and the McConnell property, and for general corporate purposes. The proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expense (“CEE”), as defined in the Income Tax Act (Canada). GGL will renounce such CEE to the subscribers effective for the 2009 tax year. Future closings of the private placement are subject to acceptance for filing by the TSX Venture Exchange. The private placement is open until September 9, 2009.

, ,

No Comments

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!

No Comments

Lorraine Copper Update

A New Player in Central British Columbia

The prolific Quesnel Terrane, a geologic belt running the length of the province and hosting numerous copper-gold porphyry deposits, including our own Lorraine occurrences, has attracted a large new player to BC. South African based Gold Fields Limited has announced that it has taken an option to acquire a 51% interest in Cascadero Copper Corporation’s Toodoggone property (approx. 100 km north of Lorraine) by incurring expenditures of $5 million over a three year period and may acquire an additional 24% interest in the property by spending a further $15 million.

Gold Fields is one of the world’s largest gold producers with annual attributable production of approximately four million ounces from nine operating mines in Peru, Ghana, Australia and South Africa. In addition the company has an extensive exploration portfolio with highly prospective projects in all of the major gold provinces of the world. Despite being a “pure gold” company, one of the more recent projects developed by Gold Fields is the Cerro Corona Mine in Peru which came on line in 2008. The Cerro Corona Mine is an open pit copper-gold porphyry mine with an economic model type that has many similarities to Lorraine.

It has become very evident over the last few years that gold companies are including large copper-gold porphyry deposits on their target list for a source of gold as they find that large gold-only deposits are becoming harder and harder to find. You may see that in the future these deposit types get referred to as Gold-Copper deposits instead of Copper-Gold to protect the gold-only producers from being labeled as copper producers. The bonus for the gold companies is the added revenue from the copper side where we are seeing a nice recovery in the price of late (US$2.05/lb.; 4/9/09). Many analysts believe that copper price is the bellwether of the economy and is a leading indicator to a pending recovery as it is a metal critical to industrial and domestic use.

It is a strong statement of credibility for BC and the exploration potential of the Quesnel Terrane to see Gold Fields enter our territory to explore alongside us.

At Lorraine Copper we are looking forward to continuing to explore and develop the Lorraine Project. Teck Cominco Ltd., Lorraine Copper’s option partner, may earn an initial 51% interest in the Lorraine Project (including subsequent expansions) by spending $9 million by December 31, 2010. Upon earning a 51% interest, Teck Cominco has a right to earn an additional 9% interest by funding and completing a feasibility study and a further 5% interest by arranging financing on behalf of Lorraine Copper for its share of capital costs. As we are all aware, Teck Cominco, having spent approximately $8.4 million to date, has been seriously affected by the recent economic downturn. Teck has not yet advised the company of the ongoing exploration plans for Lorraine but we are confident that the project will continue to garner success for Lorraine Copper.

, , , ,

No Comments

Lorraine-Jajay 2008 Drilling Results New Zone Discovered Under Main Zone

Lorraine Copper wishes to announce the results from the 2008 exploration program at the Lorraine project, which is being managed by Teck Cominco Limited under a Participation Agreement with Lorraine Copper. The Lorraine property is located in the Quesnel Terrane approximately 250 km northwest of the city of Prince George, British Columbia.

Lorraine 2008 Drill Map

Lorraine 2008 Drill Map

Teck has informed the company that it successfully drilled 6,935.5 m in 19 holes and tested eight target areas during the 2008 program. A number of significant new developments have resulted from this drilling, most notably, the discovery of another mineralized zone below the Lower Main Zone. Drill hole L08-120 first intersected 159.2 m grading 0.64% copper and 0.30 g/t gold representing the Lower Main Zone, then intersected 58.8 m grading 0.092% copper including 22.1 m grading 0.16% copper 95.3 m beneath the first interception.

Two holes were drilled to test for a northern extension to the Bishop Zone and also to determine if this zone is connected with the Main Zone. Holes L08-121 and 128 very successfully attained this objective, returning 123.3 m of 0.31% copper and 23.4 m of 0.49% copper, respectively. These holes indicate the potential for significantly increasing resources in this area.

New areas of mineralization were also discovered, including: west of the Boundary Zone in holes JTM08-16 and 17; the All Alone Dome target in hole L08-115; and the first significant intercepts of mineralization at the TooGood target in holes L08-116, 118 and 119 where notable mineralization was seen in a few holes that were cut off by post-mineralization dykes, indicating that mineralization in this large target is potentially very extensive.

Copper-gold mineralization on the Lorraine property is alkalic intrusion-related and is analogous to a deposit style that includes the Galore Creek deposit. Other significant alkalic deposits in British Columbia include the Mt. Polley, Afton and Copper Mountain mines. The Lorraine property is located in an area of active logging and is well served by resource infrastructure including all season roads, the Kemess power-line corridor to the northeast and the Canadian National Railway line to the southwest.

Teck is earning a 51% interest in the Lorraine-Jajay project by spending $9.0 million by 2011, and may earn up to a 65% interest by completing a feasibility study and arranging production financing.

2008 Lorraine-Jajay and Jan/Tam/Misty Properties Drilling Results Summary:

Hole No. Area

From (m)

To (m)

Core Length (m)

Cu ppm (ICPMS)

Assay Cu %

Au ppb  *

Assay Au g/t  ***

Ag ppm (ICPMS)

JTM08-16 Boundary

384.3

515

130.7

914

0.09

26

<1

  incl.

384.3

405

20.7

1492

0.15

45

1

  incl.

460

481

21

1906

0.18

40

0.066

1.3

JTM08-17 Boundary

36.7

55.3

18.6

1153

0.12

<10

1.1

JTM08-18 Target X

 

 

 

nsv

nsv

L08-114 AAD

 

 

 

nsv

nsv

L08-115 AAD

280.5

301.2

20.7

979

0.10

20

<1

L08-116 TooGood

262.2

308.8

46.6

1152

0.12

12

<1

L08-117 TooGood

285

294

9

nsv

238

1.6

L08-118 TooGood

174

186

12

1372

0.14

<10

<1

L08-119 TooGood

88.6

153

64.4

996

0.10

<10

<1

  incl.

126.2

153

26.8

1211

0.12

<10

<1

L08-120 Lower Main

8

167.2

159.2

6080

0.64

226

0.304

3.5

  2nd zone

262.5

321.3

58.8

915

24

<1

  2nd zone incl

262.5

284.6

22.1

1497

0.16

27

<1

  Both zones combined

8

284.6

276.6

3720

0.39

136

2.2

L08-121 Bishop Ext

89.8

326

236.2

1730

0.19

42

<1

  incl.

89.8

213.1

123.3

2751

0.31

57

<1

  incl.

158.3

213.1

54.8

5191

0.59

96

1.0

  incl.

158.3

182.3

24

9841

1.13

135

0.151

1.3

L08-122 New

144.8

149.3

4.5

1124

0.13

25

<1

   

201.1

203.1

2

4781

0.57

76

1.9

L08-123 New

59.4

59.9

0.5

5500

0.60

<10

2.4

L08-124 Page Bowl

43.5

50.4

6.9

1179

0.15

16

1.1

L08-125 New

 

 

 

nsv

L08-126 New

57

60.3

3.3

1057

15

<1

  New

174

183

9

937

<10

<1

L08-127 TooGood

 

 

 

nsv

L08-128 Bishop Ext

66

359

293

1050

68

<1

  incl.

184

207.4

23.4

4648

0.49

364

0.361

1.3

  incl.

281

301

20

2981

0.31

223

0.233

1.4

  incl.

335

359

24

1808

0.20

104

1.1

L08-129 AAD

 

 

 

nsv

* Au by Aqua regia decomposition / solvent extraction / AAS
*** Au by Fire assay – lead collection / AA finish / 1 A.T.

nsv = no significant values

, , , , ,

No Comments