World Mining Exploration News

Gold mining company Ventana Gold Corp. announces drilling results from several holes that are targeted at a comparable structure MASCOTA zone La La Bodega on gold exploration projects in Colombia. 146 holes encountered 14.0 meters grading 14.18 grams per tonne gold, starting at a depth of 296.0 meters. The hole was drilled at minus 50 degrees inclination near the 9550 and found a significant new mineralized zone appears to contain high-quality parallel structure, hydrothermal breccias. It is located about 325 meters into the footwall and the main La southeast MASCOTA structure.

To ensure the sample is found to have gold content of gold ore a good Ventana has strict standardization of QA / QC program in place to monitor the chain-of-custody of samples and including the insertion of blank, duplicate, and certified reference standards in each batch of samples. (more…)

Kiska Metals Corporation, Monday announced the discovery of mineralized zones in the Mountain Island, which lies about 23 kilometers south of the deposit resource area of Whistler. After a five-hole drilling is completed in the year 2009 drilling program returned 0.68 g / t gold ore for more than 382.9 meters. Back pit the top interval, drilled 150.0 meters long, on average 0.72 g / t gold and less than 106.9 meters 280.0 meters crossing to the edge of the hole average of 1.22 g / t gold. Copper results pending and will be announced when received. Island Mountain is different from the target porphyry deposits that host Whistler a NI43-101 resource filled show 1:31 million gold equivalent ounces and inferred resources of 4:44 million ounces of gold.

“The discovery of gold ore in the Island Mountain on our first hole of this program is very encouraging for the company,” said Jason Weber, President and CEO of Kiska. (more…)

We have many new investors interested in gold mining industry as a good prospect and provide asset protection if there is inflation. According to the observing world’s major mining company Newmont Mining Corp, an increase in investment in gold mining sector as the prospect of rising inflation.

Gold is a new investment category for reenergized people in these investments, there are approximately U.S. $ 700 billion in gold investment and it represents only 0.58 percent from U.S. $ 140 trillion of global investment.

“Gold also acts as a hedge against inflation and even though we are in the midst of a recession in the world who sniff inflation already in the air,” Chief Executive Officer of Newmont Mining Corp.., Richard O’Brien said the industry briefings in Melbourne Australia. (more…)

Once again a surprise place in the world mining investment company, a major gold mining companies in Canada, Kinross announced that it has invested U.S. $ 1 billion for development projects, gold mines in Chile. That is developing a gold mine with an existing Maricunga by creating a new location at Lobo Marte.

Chilean government support Kinross gold mining companies to make mining projects only, but must still follow the rules on the protection of water, because water is scarce in the area known as the Atacama. So that these companies must provide their own water for their needs. For that Kinross executives are doing research to find sources of water and also take into account desalinated sea water. (more…)

Gold mining company Staccato Gold Resources Ltd has announced that it has started drilling on the unexpected project, which is part of the Company’s highly prospective South Eureka property in Nevada.

A drilling rig arrived on site last week to launch early 2600 meters (8000 feet), a program that will target several new gold mining zone, and offset last year intercepted in hole 4 (5.25 g / t Au over 23 meters) . Grant Ewing, Staccato President and CEO stated, “We are very pleased to conduct testing of candidates widely and unexpected structural zone along strike and at depth. Staccato well funded to aggressively advance the exploration and assess the full potential of this highly prospective project. ”

Staccato continue researching aspects of geological, geochemical and drill hole database as a gold exploration plans to develop the optimal for the South Eureka property. The Company believes that there is excellent potential to increase the size of the defined gold resources at Lookout Mountain project, and to discover new gold deposits in the vast property. (more…)

As shown the world that economic growth is very fast, as well as the gold industry that has been explored by the company that is developing. Very high investor preference for companies with advanced-stage assets in secure jurisdictions. Companies with large assets in Mexico many countries who are interested to invest in gold mining areas of mining regulations for environment-friendly and promising geology.

Mexico is a country of a very good investment for the mining of gold, but also have many junior mining companies. Some of them have interesting assets in the mining area was established. Canadian Venture and Frankfurt listed Oroco Resource Corp. (TSX.V: OCO, Frankfurt: 0R6) recently announced preliminary results from Phase Two field program began last month in the Cerro Prieto project in Sonora, Mexico.

In the year 2009 exploration program results have confirmed extension of the mineralised zone at least 900 meters north of the previously described Oroco in 2008 by drilling and trenching program. (more…)

New Gold Inc. today placed its Amapari Mine in Brazil on temporary care and maintenance.

Robert Gallagher, New Gold’s President and Chief Executive Officer stated: “We had hoped to mine and process oxide ores through the third quarter of 2009, but efforts to maintain recent improvements in production and costs with the increasing amounts of hard transition ore and waste in the Amapari pits have been unsuccessful. While significant resources remain at Amapari, the additional capital required to maintain economic production levels and the limited remaining oxide reserves justifies the decision to place the mine on care and maintenance.”

New Gold has determined that it would be more cost-effective to process the remaining oxide ore (including transition material) with the underlying sulphide resource in a new process facility. New Gold is preparing a Preliminary Economic Assessment (”PEA”) to exploit this resource with a conventional crush/grind/CIL mill. (more…)

It’s very grim. Shedding its workforce at the fastest pace in 34 years, the US employment scene has become very grim. The tally of year-to-date lost jobs has now reached the 2 million figure. Not surprisingly, the number of homes in foreclosure neared 3 per cent in the third quarter after a 76 per cent rise. It did not take too long for various markets to slump following the release of the dismal US labor statistics. Oil traded at four-year lows under $42 per barrel, copper shed 6.36 per cent, and the gold price staged its own cave-in, shedding up to $25 and retreating to under the previously warned-about area of support for gold per ounce at $745, to touch $739.80, in the US market. New York gold futures fell sharply to close just above $750 an ounce, ending the week more than 8 per cent lower as the bleak US jobs report triggered wholesale liquidation of assets across the board. “Gold might be dragged down with other financial assets if the financial market heads for another major downward leg,” said Jeffrey Christian, managing director of CPM Group. He added: “Gold tends to be liquidated as investors needed cash when stocks decline sharply and because of deleveraging.” Noted Matt Zeman, (more…)