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November 18th, 2008
Category
Drilling, Gold, Mining Industry, Mining Investment, Mining Technology, Trade & Market |
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Carpathian Gold Inc. is very pleased to announce its updated National Instrument 43-101 compliant Resource Estimate, as provided by independent consultants PEG Mining Consultants Inc. (”PEG”), on Carpathian’s 100% owned Rovina Exploration License in central Romania, which hosts the Colnic Au-Cu Porphyry deposit (”Colnic”), the Rovina Au-Cu Porphyry deposit (”Rovina”) and the recently discovered Ciresata Au-Cu Porphyry deposit (”Ciresata”). Collectively these deposits are referred to as the Rovina Valley Project. All three deposits are in close proximity to one another and could be processed from one central facility. PEG has estimated the Mineral Resource for each of the Colnic, Rovina and Ciresata porphyry deposits, utilizing approximately 62,700 m of diamond drill hole data from the 2006, 2007 and 2008 drilling campaigns. The resource estimate takes into account all drilling information for the Rovina and Colnic deposits up to the end of April 2008 and on the Ciresata deposit up to the middle of September 2008.
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October 24th, 2008
Category
Mining Company, Mining Industry, Mining Investment, Oil & Gas, Trade & Market |
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U.S. oilfield services and drilling contractors continued to post higher quarterly profits on strong oil and gas prices, offsetting costs from the active hurricane season.
National Oilwell Varco (NOV.N: Quote, Profile, Research, Stock Buzz), Diamond Offshore Drilling (DO.N: Quote, Profile, Research, Stock Buzz) and ENSCO International (ESV.N: Quote, Profile, Research, Stock Buzz) all reported earnings gains on Thursday. The companies benefited from oil prices that reached a peak in July and averaged more than $118 a barrel in the third quarter, about 57 percent higher than a year earlier.
Those high prices have prodded oil and gas companies to pour billions of dollars toward increasing their output and fattened the coffers of the oil service and drilling companies they rely on to help them with production.
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September 29th, 2008
Category
Exploration, Iron, Mining, Mining Company, Mining Contractor, Mining Investment |
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FOX Resources (FXR), which recently updated the market on its Mt Oscar project, has released assay results from further drilling at the iron ore operation.
The explorer said drilling in the Pilbara region of Western Australia was progressing as planned, with the helicopter-supported diamond drilling program completed. There are three drill holes on Anomaly 1 and four drill holes on Anomaly 2.
The holes at Anomaly 1 intersected strong magnetite mineralisation about 80m thick. Initial geological indications are that this mineralisation is less silicified than that encountered in drilling at Anomaly 2.
RC drilling of Mt Oscar is also under way, with six holes completed for 1133m. These holes were targeted at Anomaly 1, an exceptionally strong magnetic anomaly over banded iron formation (BIF).
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September 2nd, 2008
Category
Diamond, Drilling, Exploration, Mineral, Mining, Mining Contractor, Mining Investment, Mining Technology |
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Vaaldiam Resources Ltd. today provided an update on the Company’s activities with respect to the ongoing development of its Brauna kimberlites, operations at the Duas Barras and Chapada Mines and the acquisition of RST Recursos Mineracao Ltda.
Brauna Kimberlite Project
Management believes, based on results to date, that the Brauna project has the potential to be South America’s first kimberlite diamond mine.
Vaaldiam’s 100% owned Brauna Kimberlite Project is progressing through a feasibility study which includes the collection and processing of a 5,000 tonne bulk sample from the Brauna 3 kimberlite pipe and associated dike systems. The purpose of this program is to produce a parcel of commercial sized diamonds for valuation purposes. The current bulk sampling program follows an exploration program consisting of mini-bulk sampling and delineation drilling, which produced very encouraging results including:
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August 18th, 2008
Category
Drilling, Exploration, Gold, Mineral, Mining, Mining Contractor, Mining Investment, Mining Technology |
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MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has completed a ten hole diamond drill program at its Gold Hill molybdenum project in Alaska. Drilling is continuing at the Ravin molybdenum/tungsten project in Nevada and at the Howell gold project in B.C., where seven holes totaling approximately 1,000 metres have already been drilled to date.
The 2008 drill program at Gold Hill in Alaska follows up on a five hole drill program MAX conducted in 2007 that intersected significant molybdenummineralization (MoS2) over long intervals starting at surface and ending in mineralization at depth in four of the holes.
MAX’s 2007 drill program was testing a broad Molybdenum/Copper/Gold geochemistry and geophysical magnetic anomaly covering at least a 700 by 800 meter area. Prior drilling by the New Alaska Syndicate (Cities Services Minerals and Dome Mines Ltd.) at Gold Hill in the 1970’s never tested the significant magnetic anomaly that coincides with the mineralization or the surrounding sedimentary rocks.
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August 2nd, 2008
Category
Drilling, Exploration, Mining, Mining Finance, Mining Investment, Mining Technology |
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Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation, (”Eldorado” “the Company” or “we”) (TSX:ELD)(AMEX:EGO) is pleased to report on the Company’s financial and operational results for the second quarter ended June 30, 2008. “This was the first full quarter of production from our restarted Kisladag mine, and our operating and financial results reflect our strong performance. We benefitted from low cash costs, increased production levels and high selling prices as compared to the first quarter of the year. We also commenced construction at our Efemcukuru gold mine in Turkey and continued construction at the Vila Nova iron ore mine in Brazil.”
Q2 2008 Highlights
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July 31st, 2008
Category
Drilling, Exploration, Gold Price, Mining, Mining Contractor, Mining Finance, Mining Investment, Mining Technology, Trade & Market |
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Richmont Mines Inc. (TSX: RIC)(AMEX: RIC), a gold exploration, development and production company with operations in North America, today announced financial and operational results for its second quarter ended June 30, 2008. Financial results are based on Canadian GAAP and dollars are reported in Canadian currency, unless otherwise noted.
Revenue for the second quarter of 2008 was $16.2 million, a 27.4% increase compared with $12.7 million in the second quarter of 2007. In the 2008 quarter, 17,111 ounces of gold were sold at an average price of US$903 (CAN$909) per ounce, compared with 16,640 ounces of gold sold in the same period last year at an average price of US$680 (CAN$731) per ounce. Total precious metals revenue was up $3.4 million, or 27.8%, to $15.6 million in the second quarter of 2008 compared with $12.2 million in the second quarter of 2007. Sales from the Island Gold Mine, which commenced production during the fourth quarter of 2007, more than offset the loss of gold sales from the East Amphi Mine, which was closed in mid-2007.
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July 29th, 2008
Category
Exploration, General News, Mineral, Mining, Mining Contractor, Mining Finance, Mining Investment, Mining Technology |
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Atlas Minerals Inc. (”the Company” or “Atlas”) (CA:AMR: news, chart, profile) Atlas is pleased to announce the results of a National Instrument 43-101 Resource Estimate for the polymetallic deposit at its Tres Chorreras concession in Ecuador. Results are based on a first phase exploration program and are significant considering the work completed to date. Two deposits have been outlined at Tres Chorreras and both remain open to depth and along strike with numerous additional targets yet to be tested. The company anticipates expanding the resource estimate significantly in future exploration and development programs. You can download a PDF version of this report from our website at http://atlasminerals.ca/?p=115.
The Resource Estimate to date reflects that the Tres Chorreras property comprises significant mineral deposits. Highlights calculated at $20 US/tonne cut-off (see tables and explanation below) are as follows:
1. The 3C Breccia Deposit: predominantly molybdenum-copper
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