Resinco Portfolio News
 
 

Tanzania starts drilling at Mrangi
Ticker Symbol: C:TZM

Tanzania starts drilling at Mrangi

Tanzania Minerals Corp (C:TZM)
Shares Issued 72,053,197
Last Close 3/8/2011 $0.80
Wednesday March 09 2011 - News Release

TANZANIA MINERALS CORP. COMMENCES PHASE 1 OF 13,800 METRE DRILL PROGRAM

Tanzania Minerals Corp. has started drilling on its 100-per-cent-owned Mrangi property in Tanzania. The drilling program is being implemented to test mineralized outcrops and subcrops on the property associated with banded iron formation, and also the strike extension of the Phoenix mine vein swarm. Drilling targets were identified based on the interpretation of ground and airborne geophysics, shallow solid geochemistry and satellite image structural interpretation in an area masked by overburden.

A regional structural study based on Landsat satellite imagery has been commissioned and will be performed by Murphy Geological Services with results expected within the next three weeks. The purpose of this study is to identify the regional structure within the Mara-Musoma greenstone belt and identify further drilling targets within the three licences the company holds in the region.

"The initiation of the drilling program is a clear signal that we are committed to advance the Mrangi project. We eagerly await the results of this work." said Kal Matharu, president and chief executive officer of Tanzania.

Additional information on Tanzania Minerals Corp., including technical reports and other public documents are available on the company's website.

We seek Safe Harbor.

© 2011 Canjex Publishing Ltd.

 

 

 

 

 

Finavera's Wildmare, Tumbler pass EA screening stage
Ticker Symbol: C:FVR

Finavera's Wildmare, Tumbler pass EA screening stage

Finavera Wind Energy Inc (C:FVR)
Shares Issued 30,413,264
Last Close 3/4/2011 $0.96
Monday March 07 2011 - News Release

Mr. Jason Bak reports

FINAVERA WIND ENERGY'S WILDMARE AND TUMBLER RIDGE WIND PROJECTS ADVANCE IN ENVIRONMENTAL ASSESSMENT PROCESS

Finavera Renewables Inc. has seen its 77-megawatt Wildmare and 47-megawatt Tumbler Ridge wind energy projects successfully pass the screening stage of the British Columbia environmental assessment process. These projects are two of the Company's four projects that were each awarded 25 year power purchase agreements from BC Hydro in March, 2010. This milestone is on schedule and in line with an estimated $350 million project financing (equity and senior debt) which is expected to close in Q4 2011 followed by commencement of construction immediately thereafter. Commercial operation dates are estimated to be in late 2012, followed by initial revenue.

"The notification that these projects have passed the Environmental Assessment screening stage assures us that we remain on track to hit our scheduled commercial operation dates for the Wildmare and Tumbler Ridge Wind Energy Projects," said Finavera Wind Energy President and COO Peter Leighton.

Based on existing conditions and with the mitigation proposed, the projects are not expected to result in any significant impacts for the biophysical, social, heritage, economic and health components assessed for these Applications. The final decision on impacts will be determined by the BC Ministry of Environment and the BC Ministry of Energy and will be reflected in a decision to issue Environmental Assessment Certificates to the Company for the projects. The Projects have passed the screening stage and will enter the Application Review stage shortly. The Application Review stage must be completed in a maximum of 180 days. After the Review stage is complete, they will be considered by the Ministers for an Environmental Assessment certificate (maximum 45 days).

The Environmental Assessment Application for the Company's 117 MW Meikle Wind Energy Project will be submitted to the EAO in the Spring of 2011, and the Application for the 60 MW Bullmoose Wind Energy Project is scheduled to enter the Environmental Assessment process the following year.

We seek Safe Harbor.

© 2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Macarthur starts 100,000-meter drilling at Snark
Ticker Symbol: C:MMS

Macarthur starts 100,000-meter drilling at Snark

Macarthur Minerals Ltd (C:MMS)
Shares Issued 30,180,632
Last Close 3/4/2011 $3.60
Monday March 07 2011 - News Release

Mr. Alan Phillips reports

MACARTHUR MINERALS COMMENCES 100,000 METRE DRILL PROGRAMME FOR 2011

Macarthur Minerals Ltd.'s 2011 field exploration program has commenced with reverse circulation drilling at the company's Snark Hematite project, located at the northern end of the company's Lake Giles project.

The geological objectives of the 2011 field season are:



-- Increase the classification of its potential Direct Shipping Ore of
Inferred Mineral Resource 18 million tonnes at 55.5% Fe to Indicated
Mineral Resource classification.
-- Drill out the remaining 15 DSO targets which are located over a 10km
strike length within the company's key project areas of Snark, Central
and Lost World-Banjo.
-- Drill out the remaining five magnetite targets that are located over the
60km strike length of the project.
-- Diamond (HQ3) drill at Snark and Central for metallurgical and
geotechnical purposes.
-- Increase the classification of its Inferred Mineral Resources for the
Lake Giles project of 1,316 Mt at 30.1% Fe to Indicated Mineral Resource
classification.
-- Increase the combined Mineral Resource Estimate to 1.5 Bt for the Lake
Giles project.
-- Drill out the remaining ten channel iron ("CID") targets.
Drilling Program 2011
The company has a second RC drill rig and a diamond drill rig booked for March to deliver this significant drilling program. The second RC drill rig will focus on the Moonshine Magnetite deposit where an Inferred Mineral Resource of 710Mt at 30.6% Fe has been reported.

The company has planned a staged drilling programme of 100,000 metres during the 2011 program. This represents the most comprehensive and focused drilling program undertaken by Macarthur Minerals and is designed to advance the geological and metallurgical certainty of the Lake Giles magnetite and hematite resources. This program will transform MMS from a pure exploration focus to a development focused company.

Snark DSO Project

The company has completed a total 46 holes for 1,967 metres since drilling commenced with every hole drilled intersecting potential DSO hematite/goethite (assay results pending). The company has planned a total of 150 RC holes at Snark and believes there is considerable opportunity to increase the Mineral Resource Estimate.

The Snark Mineral Resource is held under a granted Mining lease.

Moonshine Magnetite Project

The company has planned a total of 100 RC drill holes for infill drilling and to increase the tonnage of the current resource.

Metallurgy

Taking into consideration the tonnage potential at Snark, a total of 10 HQ Diamond drill holes are planned for metallurgical purposes. The two diamond holes completed last year at Moonshine (Magnetite) will be processed and used to confirm the indicative metallurgy results in the scoping study.

Environmental

The environmental activities undertaken to date include baseline surveys ensuring the acquisition of necessary environmental approvals for exploration from the Department of Mines and Petroleum in consultation with Department of Environment and Conservation. In addition, pre-clearance surveys, as required under the Heritage Act, have been completed. Several baseline surveys are scheduled for 2011 towards achieving environmental impact assessment and environmental approvals for mining.

Prefeasibility Studies

The geological and metallurgical work conducted this year will be the basis for the Company's Prefeasibility Study for its planned DSO operation and for the Prefeasibility Study for its magnetite project.

Macarthur Minerals President, Mr Alan Phillips, stated, "The Company has planned a significant geological programme this year. The initial focus is on our Snark project and then drilling will progress south to the Central project area which may allow an increased production profile if the Mineral Resources are delineated."

QUALIFIED PERSON

Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of AusIMM, and an independent consultant geologist, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), in charge of the exploration on the Lake Giles project.

Further information on Macarthur Minerals Limited and technical reports on the Lake Giles project can be found on the company's website www.macartherminerals.com or www.sedar.com.

© 2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Mineral Mountain increases Straw Lake holdings
Ticker Symbol: C:MMV

Mineral Mountain increases Straw Lake holdings

Mineral Mountain Resources Ltd (C:MMV)
Shares Issued 46,289,215
Last Close 3/4/2011 $0.60
Monday March 07 2011 - News Release

Mr. Nelson Baker reports

MINERAL MOUNTAIN INCREASES ITS STRAW LAKE HOLDINGS, PURCHASES 4 PATENTED MINERAL CLAIMS, NOW CONTROLS 4448 HECTARES IN PROSPECTIVE GOLD DISTRICT

Mineral Mountain Resources Ltd. has purchased a 100-per-cent interest in 4 patented mining claims (K3999, K4000, K4001 and K4002) totalling approximately 64 hectares (158 acres) from private owners. The newly acquired property adjoins the original Straw Lake Beach Gold Mine patents optioned by Mineral Mountain from Shotgun Exploration (see news release dated September 28, 2010), The Straw Lake gold project is accessible by road and is located approximately 70 kilometres northeast of the Rainy River Deposit and about 60 kilometres southwest of Manitou Gold Inc.'s recently announced drill hole intersection of 53.7 kg/t Au over 0.55m in hole KW-11-26 from their Kenwest Property along the Manitou Lake Fault structure in the Kenora mining district of Ontario.

Straw Lake Area Gold Mineralization

Gold mineralization in the Straw Lake Property, which now consists of a contiguous land package totalling 4448 hectares (10,986 acres), appears in two different lithologies:

1. Lawrence Lake Batholith:

-- Important gold concentrations with bulk tonnage potential occur within granodiorites related with lineament and fault structures that cut the intrusive rocks with associated quartz veining and pyrite. One such gold-bearing fault structure within the granodiorite is up to 2 km long. 2. Straw Lake Mine Trend: (11 km long)

-- Gold mineralization along the mine trend is associated with pyritic quartz veins as well as with mineralized pyroclastic rocks, felsic volcanic and iron formation carrying economic grades up to 12 g/t Au. The Straw Lake Beach Mine produced 33,662 tons grading 0.34 oz/t Au between 1938 and 1941.

 Nelson W. Baker, Mineral Mountain's President and CEO, commented: "The addition of these 4 mineral patents immediately west of our company's Straw Lake Beach Gold Mine shaft represents an important acquisition since the gold-bearing horizon trends through the patents."

The aggregate purchase price for the 4 mineral patents (the "Claims") to be paid by Mineral Mountain for a 100% interest in the 4 mineral patents is a total of 600,000 common shares of the Company and Cdn. $140,000 in cash payable as follows:

-- Upon signing of this Letter of Intent and approval of the transactions contemplated by this Letter of Intent by the TSX Venture Exchange ("TSXV"), Mineral Mountain will, within five business days following TSXV approval, issue a total of 300,000 common shares of Mineral Mountain and make a cash payment of $80,000; and

-- On or before the first anniversary date of this Letter of Intent, Mineral Mountain will issue an additional 300,000 common shares of Mineral Mountain and make an additional cash payment of $60,000.

 The share issuances and cash payments to be divided on a pro-rata basis among the Owners based upon their ownership interest in the Claims as of the date hereof. No conveyance of Title shall occur until the total aggregate purchase price as described above has been paid.

The Owners have retained a 3% net smelter royalty, one-half of which may be repurchased by Mineral Mountain for Cdn. $1,500,000 million.

© 2011 Canjex Publishing Ltd.

 

 

 

 

 

Galena Capital enters agreement for Matagorda Bay
Ticker Symbol: C:FYI

Galena Capital enters agreement for Matagorda Bay

Galena Capital Corp (C:FYI)
Shares Issued 90,601,181
Last Close 3/4/2011 $0.07
Monday March 07 2011 - News Release

Mr. Arni Johansson reports

GALENA CAPITAL CORP. CLOSES PURCHASE AND SALE AGREEMENT ON MATAGORDA BAY PROJECT IN THE GULF OF MEXICO

Galena Capital Corp. has entered into a definitive participation agreement with Arbol Energy, a private oil and gas company based in Houston, governing Arbol's Matagorda Bay, Texas, prospect.

The Participation Agreement provides Galena with a 23% Working Interest (23% Working Interest Before Payout, 17.25% Working Interest After Payout) in the 1280 acres covering Texas State Blocks 127, the south half of Block 150 and the north half of Block 151, and includes 3 existing well bores, an existing 7 mile pipeline to shore and an onshore oil/gas handling facility.

Under the terms of the Participation Agreement, Galena will pay 23% of lease acquisition, geological and geophysical costs ($650,000 gross, or $150,000 net to Galena) and 23% of any costs associated with re-completion of the existing well bores.

A key component of this acquisition is the existence of a fully drilled, cored, logged, cased and shut-in well bore (the 127-1) in Block 127. The 127-1 well has multiple pay zones indicated on logs and cores and is expected to be initially completed in the Bol Mex (8560 - 8710' depth) section of the Lower Frio. Internal analysis of the logs and cores of the Bol Mex zone indicate approximately 115 feet of expected oil pay. The reservoir is estimated to cover a minimum of 350 acres with potential up to 750 acres.

Completion planning has already begun with Operating Partner South Bay Resources, and on-site operations are expected to commence within the next 2 months.

Costs associated with the re-entry, perforation and testing of the 127-1 well are expected to be approximately $1,200,000 (approximately $276,000 net to Galena).

An additional 200 plus feet of apparent net pay are evident in the logs and cores, and upon successful completion of the Bol Mex interval the company will target these additional zones for future completions.

Arni Johannson, Chairman states, "This acquisition of a low cost, low risk, asset provides an ideal profile for Galena as we move into the Oil and Gas sector." Galena is moving its strategic focus from strictly mining into hydro carbons. The Matagorda bay project is complementary to our proposed bitumen project which is currently in the due diligence phase.

We seek Safe Harbor.

© 2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Lions Gate Metals drills 0.41% Cu over 229 m at Poplar
Ticker Symbol: C:LGM

Lions Gate Metals drills 0.41% Cu over 229 m at Poplar

Lions Gate Metals Inc (C:LGM)
Shares Issued 16,281,694
Last Close 3/4/2011 $0.96
Monday March 07 2011 - News Release

Mr. Arni Johannson reports

LIONS GATE METALS INC. INTERSECTS 229M OF 0.41% COPPER AT POPLAR

Lions Gate Metals Inc. has released the results of the first drill hole of its 2011 drilling program at the Poplar project, 35 kilometres from Imperial Metals' Huckleberry mine. The drill program is continuing and is expected to total approximately 5,000 metres.

The first hole is mineralized over the entire length, and ended in mineralization. The mineralization remains open to depth. Results are as follows:

-- 25.99m to 465.11m (End of Hole); 439.11m @ 0.32% Cu, 0.09 g/t Au, 0.01% Mo

Including:

-- 89.75m to 318.88m; 229.13m @ 0.41% Cu, 0.12 g/t Au, 0.01% Mo

-- 462.154m to 465.10m; 2.96m @ 1.29% Cu, 0.29 g/t Au, less than 0.001% Mo

This sample has chalcopyrite covered fractures and net textured sulphides, in an intensely silicified rock unit. The hole ended in this style of mineralization. This is a new style of mineralization at Poplar, and the significance of this interval is not yet known.

Lions Gate management is highly encouraged by these results which will be used to prepare a 43-101 report which will be release after the completion of this drill program.

Lions Gate CEO Arni Johannson stated, "We are extremely pleased with these results that begin to provide us with the necessary data which will allow us to upgrade the historic non 43-101 compliant resource to the current standard. These results have confirmed the grades of historic drilling, and have extended the mineralization to depth."

Andrew Gourlay, P.Geol., Vice President Exploration is a Qualified person under NI 43-101 and has reviewed and approved the contents of this news release.

We seek Safe Harbor.

© 2011 Canjex Publishing Ltd.

 

 

 

 

 

 

 

Resinco® Capital Partners Inc. Announces Adoption of Monthly Net Asset Value Publication Strategy

February 18, 2011
TSX: RIN
FWB: L6V
Vancouver, BC – Resinco® Capital Partners Inc. ("Resinco") announces that based on significant ongoing investor interest, Resinco has decided to publish its net asset value (“NAV”) on a monthly basis. The NAV will be published within 20 days of the end of each month.

As of January 31st, 2011 Resinco’s unaudited NAV per share was $0.22. The closing price of $0.14 on January 31st, 2011 represents a 36% discount to the NAV.

“Resinco’s net asset value is a key metric for investors looking at the development of our enterprise value,” said John Icke, President and CEO. “The current net asset value is significantly higher than our market capitalization. By publishing the NAV monthly, we will indicate to the financial community the investment opportunity represented by our current share price.”

Use of Non-GAAP Financial Measures
NAV is a non-GAAP financial measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable measure presented in Resinco’s financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure.
About Resinco® Capital Partners Inc.

Resinco (Resource Investment Company) is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.

For more information on Resinco, please visit www.resincocp.com.

On behalf of the Board of Directors
RESINCO® CAPITAL PARTNERS INC.:

John Icke
President and CEO

For more information, please contact
Resinco
Mike Rodger
Investor Relations
604-696-6515
info@resincocp.com
www.resincocp.com

Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company’s business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

 

 

 

 

 

Cue Resources to start drilling San Miguel zone
Ticker Symbol: C:CUE

Cue Resources to start drilling San Miguel zone

Cue Resources Ltd (C:CUE)
Shares Issued 114,118,668
Last Close 2/16/2011 $0.14
Thursday February 17 2011 - News Release

Mr. Robert Tyson reports

CUE RESOURCES LTD. TO CONDUCT DRILLING AT SAN MIGUEL, YUTY URANIUM PROJECT

Preparations are under way for a new drill program on the San Miguel zone located on Cue Resources Ltd.'s 100-per-cent-owned Yuty uranium project in southeastern Paraguay. Sixty-four historic holes have been drilled previously with three holes of heightened interest in the 0.10-0.50m% eU3O8 range.

"We are excited to accelerate our 2011 exploration program as we begin to explore the resource potential at San Miguel," stated Robert Tyson, President and CEO. "Our drill programs to date have been limited to the San Antonio zone. We have 3 other zones to drill in the immediate vicinity of San Antonio, within the Yuty uranium project including San Miguel. It is time to capitalize on the historic exploration undertaken by Anschutz in the early 1980s and begin to define the potential at San Miguel."

The program will consist of approximately 45-50 holes totaling approximately 3500 metres. The goal of the drilling is to quantify additional resources and refine the geological model at San Miguel and Yuty as a whole. Current data shows a significant number of historical holes at San Miguel have encountered anomalous or better uranium mineralization.

San Miguel

San Miguel is located 5 km NE of San Antonio along the reduction-oxidation (redox) front which hosts the uranium mineralization at San Antonio, San Miguel, Yarati-y, and Typychaty. All four of these zones show high-priority target areas and all have historical drilling which has intersected anomalous or better uranium mineralization. Each zone is similar in area to San Antonio. The redox front appears to define a nearly continuous zone of potentially significant mineralization.

To view Figure 1, click on the following link: http://media3.marketwire.com/docs/Yuty_Figure1.pdf

San Antonio Deposit

The San Antonio Deposit consists of a current NI 43-101 compliant resource, Indicated, 9.0M tonnes @ 0.042% eU3O8 containing 8.3M lbs eU3O8 and an Inferred Resource of 1.1M tonnes @ 0.050% eU3O8 containing 1.2M lbs eU3O8. Column leach tests have demonstrated recovery of up to 86% of the contained uranium from cores taken from San Antonio. In addition, laboratory testing on drill cores has shown permeability and porosity values within the range of existing commercial ISR operations.

Chris M. Healey, P.Geo, a director of Cue, is the Qualified Person responsible for the technical content of this release.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Shoal Point to acquire 80% interest in Green Point
Ticker Symbol: C:SHP

Shoal Point to acquire 80% interest in Green Point

Shoal Point Energy Ltd (C:SHP)
Shares Issued 128,325,428
Last Close 2/10/2011 $0.285
Thursday February 10 2011 - News Release

Mr. R. Brian Murray reports

SHOAL POINT SIGNS LETTER OF INTENT TO EARN AN 80% INTEREST IN THE GREEN POINT SHALE IN CONTIGUOUS EL 1120

Shoal Point Energy Ltd. has signed a letter of intent with Ptarmigan Energy Inc. of St. John's, Nfld., to acquire an option to explore the Green Point shale on Ptarmigan's exploration licence 1120, western Newfoundland offshore. The two parties will endeavour to reach a definitive agreement by March 4, 2011, which will allow Shoal Point to earn an 80-per-cent interest by drilling a Green Point test well on the property by Dec. 31, 2012.

Under the terms of an area of mutual interest agreement with Canadian Imperial Venture Corp. of St. John's, Canadian Imperial Venture will have the right to participate in exploration activities to earn up to a 40 per cent of Shoal Point's interest in the subject lands.

Shoal Point Energy and partners are currently drilling a well at Shoal Point, Port au Port Bay, to evaluate the Green Point shale on Shoal Point's exploration licence 1070, which lies south of, and contiguous with, Ptarmigan's EL 1120. Dragon Lance Management Corp., the operator of the 3K-39 well, has reported that the crew is returning to the site today after a brief break. Once on site, the rig crew will be preparing the rig to drill the main section of the well in the Green Point shale.

"We are very pleased to be partnering with Ptarmigan on the continuing evaluation of the Green Point potential in western Newfoundland," said George Langdon, president and chief executive officer of Shoal Point Energy Ltd., "and look forward to an exploration program that will be highly beneficial and rewarding to both parties."

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Mesa hires contractor for Green Energy project
Ticker Symbol: C:MSA

Mesa hires contractor for Green Energy project

Mesa Uranium Corp (2) (C:MSA)
Shares Issued 12,262,042
Last Close 2/8/2011 $0.96
Wednesday February 09 2011 - News Release

Mr. Foster Wilson reports

MESA URANIUM RETAINS NORTH AMERICAN EXPLORATION INC. FOR THE GREEN ENERGY LITHIUM PROJECT

Mesa Uranium Corp. has engaged North American Exploration Inc. (NAE) to provide permitting, environmental and engineering support at the wholly owned Green Energy lithium project in Utah. Drilling operations are anticipated to commence in the spring of 2011, once permits are received. NAE has worked on the company's projects providing exploration and environmental services since Mesa's founding in 2005.

Lithium occurs at the project with values as high as 1,700 parts per million lithium (0.9 per cent Li2CO3) in saturated brine. In addition to the lithium, the brine grades as high as 7.9 per cent potash, 18.7 per cent magnesium chloride, 13 per cent salt, 6,100 ppm bromine and 1,260 ppm boron. These results are not NI 43-101 compliant and therefore should not be relied upon.

About North American Exploration

NAE and their subsidiary, North American Mine Services, provide geologic, hydrologic, engineering and environmental support services to industrial mineral, metal and coal mining operations for such clients as Rio Tinto, Kennecott Exploration, Newmont Mining, Barrick Gold and Agnico-Eagle. NAE was established in 1964, and is based in Kaysville in Utah.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Candente Gold drills 54.7 m of 1.17 g/t Au at El Oro
Ticker Symbol: C:CDG

Candente Gold drills 54.7 m of 1.17 g/t Au at El Oro

Candente Gold Corp (C:CDG)
Shares Issued 50,673,577
Last Close 2/8/2011 $0.90
Wednesday February 09 2011 - News Release

Ms. Joanne Freeze reports

CANDENTE GOLD DISCOVERS NEW, BULK TONNAGE GOLD TARGET ON THE EL ORO PROJECT IN MEXICO

Candente Gold Corp.'s drilling has intersected a new zone of gold mineralization with bulk-tonnage potential located 200 metres lateral to and above the historically mined San Rafael vein on the El Oro project, Mexico.

The new gold zone occurs in a pervasively altered volcanic tuff unit (Somera Tuff) and contains 0.96 grams per tonne ("g/t") gold over 74.9 metres, within which an average of 1.17 g/t gold occurs over 54.7 metres. Higher grade zones within this interval include 16.73 g/t gold over 1.4 metres and 6.86 g/t gold over 4.6 metres (see Table 1 below).

"The Somera Tuff discovery is exciting for two reasons, the first being immediate potential for large scale, bulk mineable mineralization in an entirely new area near to historic workings," said Joanne Freeze, Candente Gold President & CEO. "The second is that the pervasive alteration is typical of the top of an epithermal event, and it sits next to mineralization typical of the heart of another. This reinforces our concept of stacked or repeated mineralizing events, and that an entire high-grade mineralization zone may lie below the deepest workings on the various veins in the El Oro district."

A conceptual model for the emplacement of gold and silver mineralization in the El Oro District is available from the Candente Gold website.


Table 1
----------------------------------------------------------------------------
From To Width Gold Silver
Drill Hole (m) (m) (m) (g/t) (g/t)
----------------------------------------------------------------------------
SR10-02A 373.1 448.0 74.9 0.96 5.06
----------------------------------------------------------------------------
including 373.1 427.8 54.7 1.17 5.02
----------------------------------------------------------------------------
and including 413.9 418.5 4.6 6.86 17.61
----------------------------------------------------------------------------
and including 413.9 415.3 1.4 16.73 32.50
----------------------------------------------------------------------------

The Somera Tuff occurs along a sub-horizontal unconformity above the sedimentary rocks that host the San Rafael and Veta Verde veins, where historic mines produced a minimum of 6.4 million ounces of gold and 74 million ounces of silver. Candente Gold believes that the system persists to depth as a series of "stacked" mineralization zones related to fluctuating boiling levels. These latest results support this thesis. The pervasive "Advanced Argillic Alteration" that affects the Somera Tuff consists of buddingtonite (an ammonia-rich feldspar) and silica. This is typical of the surface expression of low-sulphidation epithermal vein systems, and usually occurs 200-350m above the boiling level - where gold and silver are deposited. Normally, this alteration is not itself well mineralized.

The Somera gold zone was intersected during drilling to seek extensions of the San Rafael vein in areas where historic assay and level plans indicate that high grades (up to 50 g/t gold) persist below the old workings. Drill hole SR10-02A deviated and was lost in old mine workings at 610m down-hole. A second attempt on the same target was lost at 570m. Over 88m of the Somera Tuff was intersected in the hole which was drilled from the top of the mountain, and the intercept lies at roughly the same elevation as the portals of the principal underground access.

In the Somera Tuff, cross-cutting relationships indicate that the unit was pervasively altered first, and then the gold-silver mineralization was emplaced after the boiling level rose several hundred metres during the San Rafael Vein stage. This juxtaposition of two disparate styles indicates at least two separate pulses of mineralization related to different boiling levels. If true, the higher grade gold-silver zone related to the Somera Tuff alteration should lie below the lowest levels of the historic mines. This interpretation reinforces Candente Gold's textural and fluid inclusion data from the district and suggests similarity to other gold-silver mines in Mexico such as Fresnillo, Guanajuato, Pachuca, and Pinos Altos, where stacked gold and silver zones occur over 600 to 1200 metres vertically.

The Somera Tuff appears to have been intersected in historic drill holes but was not previously assayed because of focus on the veins proper. Sampling and assaying of the older holes is underway.

Underground Drilling in the San Rafael and other veins

The San Juan tunnel rehabilitation, which has been carried out to provide access for drilling the depth extensions of the San Rafael vein from underground, has been stopped due to technical difficulties. It was determined that the San Rafael vein was over 45m wide in this area which is much wider than indicated on historic maps. This amount of backfill was deemed too difficult to properly support. Other underground routes are being evaluated to gain access for drilling the San Rafael vein below the old workings from the hanging wall side of the vein.

In the meantime both surface drill rigs have been deployed to test both the new gold discovery and the underlying San Rafael vein targets.

Calera Vein

The Calera vein lies in the footwall of the San Rafael vein and was accessed via an old stope from the San Juan tunnel. Underground sampling by Candente Gold obtained gold and silver grades of 11.35 g/t gold and 66.00 g/t silver over 1.00 m. A fan array of five holes (762 m) was drilled from underground (in the San Juan Adit) targeting the down-dip and strike extension of the Calera Vein below old workings. Gold and silver mineralization was found in three of the five holes as indicated in Table 2 below.



Table 2 - Selected Underground Drilling Assays
----------------------------------------------------------------------------
From To Width Gold Silver
Drill Hole (m) (m) (m) (g/t) (g/t)
----------------------------------------------------------------------------
SJUG10-13 62.15 62.85 0.70 18.76 104.30
----------------------------------------------------------------------------
SJUG10-14 76.95 77.47 0.52 2.27 13.00
----------------------------------------------------------------------------
SJUG10-16 80.33 80.93 0.60 3.33 24.00
----------------------------------------------------------------------------

Oriente Zone Drilling

Several geological, geochemical, and geophysical targets with the potential to represent buried and previously unknown vein systems similar to San Rafael were identified in the Oriente Zone, which lies 1,000 to 4,000m east of the historic mining centres. These targets included linear features delineated by NSAMT geophysics coinciding with geochemical anomalies in soils and rocks and zones of alteration.

Drilling failed to intersect any mineralization of economic interest in this area. In total 3,336.80 metres were drilled in 6 holes (ZO10-01 to 06). No additional drilling is planned in this area.

Qualified Persons

Rock and core samples were sent to Inspectorate laboratories in Durango, Mexico for preparation and to Reno, Nevada, USA for analysis with duplicates assayed by ALS-Chemex in Vancouver, Canada. Both labs are certified assay laboratories and conform to National Instrument 43-101 standards for independent assay laboratories. Samples were initially run for 32 element ICP to determine the trace-element analysis. Gold values were determined by Fire Assay with an Atomic Absorption finish. Over-limit values of gold (greater than 10 g/t) and silver (greater than 100 g/t), were confirmed with Fire Assay-Gravimetric Analysis. Mark J Pryor, Pr.Sci.Nat., VP Exploration, Candente Gold and Joanne C. Freeze, P.Geo., President and CEO of Candente Gold, are the Qualified Persons as defined by NI 43-101 for the project discussed above and have read and approved the contents of this release.

Joanne C. Freeze, P.Geo., President and CEO and Mark J. Pryor, Pr.Sci.Nat., are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above and they have reviewed and approved the contents of this release.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Tanzania Minerals to drill 3,800 m at Mrangi property
Ticker Symbol: C:TZM

Tanzania Minerals to drill 3,800 m at Mrangi property

Tanzania Minerals Corp (C:TZM)
Shares Issued 72,053,197
Last Close 2/7/2011 $0.71
Tuesday February 08 2011 - News Release

Mr. Kal Matharu reports

TANZANIA MINERALS CORP. - OPERATIONAL UPDATE

Tanzania Minerals Corp. has contracted Tandrill Limited of South Africa to carry out a drill program on the Mrangi property. The company anticipates drilling approximately 3,000 metres of core holes and, depending on results, a 10,000-metre follow-up reverse circulation program. The company anticipates the start of the program in approximately two weeks with the first priority target along strike extension of the Phoenix mine vein swarm as outlined in the previous Stockwatch news release dated Nov. 29, 2010.

The company has also commissioned New Resolution Geophysics (NRG) of South Africa to fly a 3,800-line-kilometre regional airborne geophysical survey over the licences controlled by the company on the Musoma Mara greenstone belt located in the northeastern region of Tanzania. The two-week survey is expected to start in three months and the interpreted results expected to follow five weeks after the survey completion.

The existing detailed historical regional geophysics has been reinterpreted on the adjacent property which hosted the past-producing Phoenix gold mine. Parallel structures approximately 600 metres to the north of the known gold vein(s) have been identified from the historical geophysics and appear to extend onto the northern part of the Mrangi licence. A reconnaissance ground geophysics program is under way to determine if the structures are present on this section of the Mrangi licence, prior to drilling and commencement of the high-resolution airborne study. These results will be integrated with the soil geochemical survey results which were completed in 2010. The results of this survey are expected in the third week of February, 2011. The company is also conducting additional trenching and sampling on banded iron formation-hosted gold mineralization that returned assays of 0.33 gram per tonne to 3.78 g/t gold from grab samples. The BIF-hosted gold mineralization will be tested during the drill program to determine the grade, thickness and depth continuity of mineralization.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Jim Walchuck, PEng, a qualified person and a director of Tanzania Minerals Corp.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Galena Capital to license oil sands technology
Ticker Symbol: C:FYI

Galena Capital to license oil sands technology

Galena Capital Corp (C:FYI)
Shares Issued 90,601,181
Last Close 2/7/2011 $0.06
Tuesday February 08 2011 - News Release

Mr. Michael Leahy reports

GALENA CAPITAL CORP. SIGNS LOI FOR INNOVATIVE OIL SANDS TECHNOLOGY

Galena Capital Corp. has entered into a non-binding letter of intent with Imperial Petroleum Inc., a United States-based company.

A wholly owned subsidiary of Imperial holds a process technology licence respecting a patented and proprietary process that allows for the recovery of bitumen from oil sands (tar sands). The technology uses a non-thermal, mechanical and chemical process in a closed-loop system to recover bitumen from oil sands. The closed-loop process results in zero discharge, except for clean sand and the separated bitumen product.

The letter of intent contemplates:

The formation of a new entity to be named "Arena Energy, LLC" ("Arena"), which is expected to be a Nevada LLC whose capital stock will be owned, directly or indirectly, by Galena and Imperial on a 50/50 basis.
Arena and Imperial will sign a sub-license agreement under which Arena will have a non-exclusive sub-license to use the oil sands recovery technology for development of a specific project in the United States.
Galena will invest US$850,000 in Arena which will be used to fund: (i) the purchase of the sub-license of the oil sands recovery technology; (ii) acquisition of a production unit capable of processing up to 2,500 tons of oil sands per 24 hour period; (iii) lease and equipment acquisition and general start up expenses.
Galena will be entitled to recover its invested capital out of 80% of the net cash flow of Arena after which the 50/50 profit sharing will come into effect.
The parties' obligations are subject to completion of due diligence, the execution of a definitive agreement between Galena and Imperial, and receipt of all required regulatory approvals.
Galena and Imperial intend that Arena will install its initial operation at one of several potential sites in the U.S. that will provide sufficient minable oil sands capable of sustaining operations for several years. Based on proof of concept production runs by Imperial, the production unit to be acquired by Arena is estimated to commence operations at 300 tons per day with a goal of expanding to 2,400 tons per day based on Imperial's estimate of the production unit's maximum capacity.

"Management of Galena looks forward to the satisfactory completion of the due diligence and finalization of a definitive agreement between Galena and Imperial. This proprietary technology and process could position Galena at the forefront of new oil recovery technologies and will provide a highly scalable business model," states CEO John Seaman.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Macarthur Lake Giles to cost $2.91-million (Australian)
Ticker Symbol: C:MMS

Macarthur Lake Giles to cost $2.91-million (Australian)

Macarthur Minerals Ltd (C:MMS)
Shares Issued 30,080,632
Last Close 2/4/2011 $3.70
Monday February 07 2011 - News Release

Mr. Alan Phillips reports

MACARTHUR MINERALS RECEIVES POSITIVE SCOPING STUDY ON THE MOONSHINE MAGNETITE DEPOSIT AT LAKE GILES

Macarthur Minerals Ltd. has received the Moonshine magnetite scoping study undertaken by Engenium in respect of the Moonshine deposit located within the company's Lake Giles project in Western Australia.

The operating costs, direct capital costs, payback period and NPV figures are presented as a range given that the project has a number of transport, logistic and port options available that impact directly on these metrics.

An updated National Instrument ("NI") 43-101 Technical Report, which includes the results of the NI 43-101 dated 17 December, 2009 drilling program, will be filed on SEDAR within 45 days of this news release.

Highlights:


-- Project NPV between AUD 2,525 million to AUD 2,651 million based on a
discounted cash flow model:
-- using a real discount rate of 10%;
-- based on a project life of 26 years; and
-- with no terminal value added to the NPV, which assumes no extension
to the plant and/or mine life.
-- Project is potentially highly profitable with payback (based on NPV) in
3.62 years to 3.95 years.
-- Operating costs (AUD/t concentrate) estimated at AUD 52.3 to AUD 59.3
(rounded)
-- Total direct costs estimates a range from AUD 1,877 million to AUD 2,272
million (rounded)
-- Total Project Costs (direct & indirect, including contingency of AUD 300
million) range from AUD 2,459 million to 2,913 million (rounded)
Resource Base and Project Life
As previously reported on December 15, 2010, the Scoping Study utilises the estimated categorisations of Moonshine and Moonshine North being 710 million tonnes at 30.6%Fe. The estimate includes 5 million tonnes at 54.3%Fe (at a 40%Fe cut-off), which has been identified as potentially direct shipping magnetite (refer to news release dated August 23, 2010).

In addition to the Moonshine deposit, the inferred mineral resource estimate for magnetite for the Lake Giles project is 1,316 Mt at 30.1% Fe (Table 1). For clarity the Scoping Study only included the resource estimates for the Moonshine deposit. Potential exists to extend the resource at Moonshine with further exploration planned for 2011 plus incorporating the magnetite mineralisation from other deposits already identified at Lake Giles.



Table 1 - Lake Giles Project Mineral Resource Estimate (magnetite)
as at December 15, 2010 at a 15% Fe cut-off.

-----------------------
INFERRED
---------------------------------------------------------------
Deposit Tonnes Fe
(Mt) %
---------------------------------------------------------------
Snark 75 27.7
Clark Hill North 130 25.8
Sandlewood 335 31.1
Clark Hill South 66 30.3
Moonshine 710 30.6
---------------------------------------------------------------
Total 1,316 30.1
---------------------------------------------------------------

Notes for tables:
-- Figures contained within Table 1 have been rounded. % Fe grades are
rounded to 1 decimal figure.
-- Davis Tube Recovery (DTR) results are the proportion of sample
considered extractable by magnetic separation.
-- A block model was constructed using three dimensional geological
wireframes.
-- Variograms were generated and grades were estimated using ordinary
kriging.
-- Outlines and wireframes honour the actual locations of contacts on drill
holes that are off section.
-- Density was estimated with a regression from Fe grade based on core and
rock samples. Resource Base and Project Life
The financial highlights for the Scoping Study base case over the first 26 years of the project operation are summarised as follows:



----------------------------------------------------------------------
Option 1
----------------------------------------------------------------------
Scoping Study base case financial model 26 Years
Scoping Study parameters +/- 30%
Saleable concentrate per annum 10Mtpa
Operation Cost F.O.B. A$52.3
Capital direct cost A$2,272 M
NPV @ 10% real discount rate A$2,651 M
IRR 23%
Magnetite concentrate grade approx. 68%
Mass recovery 38%
----------------------------------------------------------------------
Option 1 is the base case slurry pipeline from mine site to Karara then rail from Karara to Oakajee Port.
Scoping Study Participants

Areas of responsibility in the preparation of this study have been:



---------------------------------------------------------------------------
Executive Summary Engenium Pty Ltd
Geology & Mineral Resources CSA Global Pty Ltd, Engenium Pty Ltd,
McMahon Mining Title Services Pty Ltd,
Snowden Mining Industry Consultants Pty Ltd
Mining and Processing Engenium Pty Ltd, Intermine Engineering
Consultants
Infrastructure Engenium Pty Ltd
Transport and Logistics Engenium Pty Ltd
Port Facilities and Logistics Engenium Pty Ltd
Approval and Permits Engenium Pty Ltd
Capital Cost Estimate Engenium Pty Ltd
Operating Cost Estimate Engenium Pty Ltd
Forward Work Program Engenium Pty Ltd
Study Document Preparation Engenium Pty Ltd
---------------------------------------------------------------------------
Macarthur Minerals Strategy

To date, the Company has delineated a +1 billion tonne magnetite resource and +18 million tonne hematite/goethite Direct Shipping Ore ('DSO') resource at its Lake Giles iron ore project.

The Scoping Study reveals the availability and access to both rail and port capacity to support the requirements of the Lake Giles magnetite project.

The Company's strategy is to advance the development of the DSO hematite for export late 2012, early 2013. The DSO export program will act as the foundation for the expansion and advancement of the magnetite project to follow. Key economic drivers for the Lake Giles project are the proximity to rail and port as well as to critical mining, city and transport infrastructure. Each of these aspects strengthens the commerciality and timeline of the project.

Mining & Processing

Mining was modelled on conventional drill, blast, load and haul mining methods. Ore produced shall be hauled to the Run of Mine ('ROM') pad for crushing and then ore product conveyed to a concentrate plant. Concentrate product shall be transported to port by rail and/or in slurry form via a pipeline, for export sale.

For the purposes of the study a 38% weight recovery was assumed based on metallurgical test work performed on two RC drill holes from Moonshine. Additionally, a waste to ore strip ratio of 3:1 was used in the study based on earlier resource mapping.

Water sourcing is a major consideration and dewatering the coarser fraction of the tailings from the first two stages of magnetite separation may offer significant advantages in water recycling.

Port and Logistics

Unlike many Western Australian iron ore mining projects the Lake Giles magnetite project has a number of transport logistics and port options. All options considered include a slurry pipeline to a rail head and then rail to port. The base case is a slurry pipeline from the mine site to Karara then rail from Karara to the Oakajee Port. If the Oakajee Port option encounters further delays in its development, other viable options include:



-- slurry pipeline to Menzies then rail from Menzies to the Port of
Esperance; and
-- slurry pipeline to Jaurdi then rail from Jaurdi to Kwinana to either
Fremantle Port or to the James Point Port. Approvals
The environmental approvals process is the critical path for the project. The project would be of sufficient scale that it would require referral from the Department of Mines and Petroleum to the Environmental Protection Authority (EPA) for formal environmental assessment.

Initial desk top studies and flora surveys undertaken by the Company to support the exploration have not discovered any rare or endangered species on the granted mining leases.

Furthermore, there are currently no registered native title claims over the project or any of the granted mining leases.

Summary

The technical and financial evaluation in the Scoping Study has concluded that further project development is justified based on information currently available. However, a considerable amount of further work is required in metallurgical testing and associated studies in order to prove the assumptions made and to verify the preliminary date as presented in the study. The Company cautions that the Scoping Study is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly, there can be no certainty that the results estimated in the Preliminary Assessment will be realised.

The Company has already commenced this drill out of the 18 million tonne DSO hematite (refer to press release dated November 25, 2010) and further exploration work is planned for Q1 2011 to extend the Moonshine magnetite resource and increase the JORC classifications of the inferred 710 million tonnes to indicated. In addition to this, the Company will undertake a representative metallurgical program over the hematite resource areas along with additional testing of the Moonshine magnetite material. This program is planned for completion in Q2 2011.

This additional geological and metallurgical testing (assuming it is supportive of the findings of the Scoping Study) open the way for the Company to commence the development of a pre-feasibility study on the Moonshine magnetite resource.

Quality Assurance and Quality Control (QA/QC):

Intersections reported have been verified by the Company's QA/QC protocols. All samples from drill holes are prepared by Amdel and SGS Laboratories and pulverised to 90% passing 45 microns then analysed for the iron suite using XRF.

QUALIFIED PERSONS

Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of AusIMM, and an independent consultant geologist, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), in charge of the exploration on the Lake Giles project.

Mr Neville Dowson B App Sc (Extractive Metallurgy), a member of AusIMM, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Neville was involved with the metallurgical analysis and assessment of the project.

Mr David Sourbutts B Eng (Hons), B Comm (Management), a member of Institute of Engineers Australia, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). David was the Study Manager and responsible for the coordination technical and financial review of the Scoping Study.

Further information on Macarthur Minerals Limited and technical reports on the Lake Giles project can be found on the company's website www.macarthurminerals.com or www.sedar.com.

ABOUT ENGENIUM PTY LTD

Engenium is a Project Delivery company servicing the resource and infrastructure sectors of Australia. Engenium's service offering includes all aspects of project development from early metallurgical testwork programs, scoping/feasibility studies, engineering design and construction management. Founded in 2003, Engenium has assisted numerous junior, mid-tier and major companies in the Australian mining sector with the development of their iron ore projects. Clients include Atlas Iron, BC Iron, BHPBilliton, Brockman Resources, Cazaly Mining, Golden West Resources, Polaris Metals, Reed Resources, Rio Tinto, Sherwin Iron and Warwick Resources. Over the past 8 years Engenium has built up a significant database of knowledge with resource projects, and in particular hematite and magnetite operations. For further information regarding Engenium, please view the company website www.engenium.com.au.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Woulfe Mining to drill exploration hole at Muguk
Ticker Symbol: C:WOF

Woulfe Mining to drill exploration hole at Muguk

Woulfe Mining Corp (C:WOF)
Shares Issued 265,106,833
Last Close 2/3/2011 $0.255
Friday February 04 2011 - News Release

Mr. Brian Wesson reports

WOULFE MINING TO DRILL INVESTIGATION HOLE AT MUGUK GOLD DEPOSIT

Woulfe Mining Corp. will execute the drilling of a 520-metre exploration hole to investigate the possible extension of the vein 2 lode at the Muguk prospect. Vein 2 was historically the generator of around 75 per cent of the gold production from the mine. Analysis of geological trends and historical underground sampling suggests that vein 2 may extend to the north of the historically defined resource.

The hole is targeted to intersect the ore position at around 165 m to the north of the last mine, working on the level 12 (420 m from surface) and 125 m below an historical exploration drive on the level 8 (285 m from surface). The most northerly historical underground sampling on the level 12 indicates the vein to be 2.1 m true thickness at 10.7 grams per tonne gold. On level 8 immediately above the target area, historical sampling shows the vein to be 1.6 m true thickness with grades varying from 5.8 g/t to 14.7 g/t. The drilling is scheduled to commence on Feb. 15.

The Muguk mine was the most productive gold mine in South Korea with a reported historical cut-off grade of eight grams per tonne and a life of mine head grade of 11 g/t with mill recovery rates reported as 96 per cent. The mine ceased operation in 1997 due to very low gold prices with significant historical resource left in situ.

Brian Wesson, president, chief executive officer and director of Woulfe, stated: "The Muguk gold mine has the potential to be a major asset in the Woulfe portfolio. We are committed to defining the resource to NI 43-101 standards. This hole will test the northern extension of the historical resource. If the mineralization continues, we will develop a plan which includes expanding the resource in addition to bringing it to current standards."

The information described in this news release has been reviewed and approved by Colin Lutherborrow, a qualified person under National Instrument 43-101.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Mesa Uranium acquires Utah uranium leases
Ticker Symbol: C:MSA

Mesa Uranium acquires Utah uranium leases

Mesa Uranium Corp (2) (C:MSA)
Shares Issued 12,262,042
Last Close 2/1/2011 $0.74
Wednesday February 02 2011 - News Release

Mr. Foster Wilson reports

MESA URANIUM ACQUIRES URANIUM LEASES

Mesa Uranium Corp. has acquired from the state of a Utah a uranium lease consisting of 2,560 acres located in the seven mile uranium district of southeastern Utah. Mesa has also acquired a mineral lease for the Lone Star mine, an historic producer of uranium.

The Lone Star mine consists of approximately 20 acres and is located in the Lisbon Valley mining district in southeastern Utah. Production from the Lone Star was not significant, however, there is excellent potential for the discovery of uranium on the claim. Both mineral leases were acquired for nominal annual payments and a royalty.

Mesa will evaluate available drill logs, geologic maps and production records to guide future exploration work.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

Woulfe Mining partner completes due diligence
Ticker Symbol: C:WOF

Woulfe Mining partner completes due diligence

Woulfe Mining Corp (C:WOF)
Shares Issued 265,106,833
Last Close 2/1/2011 $0.25
Wednesday February 02 2011 - News Release

Mr. Brian Wesson reports

WOULFE MINING UPDATE ON KOREA ZINC AGREEMENT AND DRILLING PROGRESS

Woulfe Mining Corp.'s partner Korea Zinc Co. Ltd. has completed its initial phase of due diligence. Korea Zinc wishes to progress the strategic partner transaction as announced on Nov. 23, 2010. Korea Zinc and Woulfe are working together to advance the project with the objective of concluding a definitive deal.

The project evaluation process has been briefly delayed at the Sangdong tungsten/molybdenum project as the drilling of the initial production area, from the unmined areas above the valley floor, has progressed more slowly than expected due to delays in obtaining spare parts and the extreme winter conditions in Korea. The weather in particular has caused the ice-over of the one level and access incline, preventing access for drilling.

Drilling update

The drilling program of 5,000 metres announced on December 6, 2010, has been redesigned to include 2,000 metres of surface drilling. The underground drilling is being carried out by electric/hydraulic drills in main areas and kempe-pneumatic drills in the smaller areas.

As previously reported, power was installed and commissioned to the site over the Christmas holiday period and is currently being installed underground for the drilling. The drilling is targeting the KORES NI 43-101 non-compliant historical reserves from 1998 which suggest a target grade of above 0.4 per cent is to be expected in unmined areas. These areas remain un-mined as they protect the old mine infrastructure excavations that are not required in the new mine plan. A qualified person has not done sufficient work to classify historical estimates as current mineral resources or reserves and the company is not treating the historical estimate as current mineral resources or reserves but as a historical estimate that should not be relied upon.

Brian Wesson, president, chief executive officer and director of Woulfe said: "We are working closely with Korea Zinc to advance the strategic partner deal. We are disappointed at the speed of progress of the agreed drill plan as the data is required to complete a review of our resources and mining plan for the initial years of mining. It is in the initial years that the mining plan shows the project capital will be recouped.

"However, given the redesign of the program and the appointment of Mr. Don Smith, an experienced Australian geologist on site, we are confident that we can complete the drilling by Q2 this year which will be followed by an updated resource estimate."

We Seek Safe Harbour.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Source samples 12 m of 8.59 g/t Au at Las Boquillas
Ticker Symbol: C:SOP

Source samples 12 m of 8.59 g/t Au at Las Boquillas

Source Exploration Corp (C:SOP)
Shares Issued 45,675,310
Last Close 2/1/2011 $0.50
Wednesday February 02 2011 - News Release

Mr. Brian Robertson reports

SOURCE SAMPLES 12 METRES OF 8.59 G/T GOLD, 140.0 G/T SILVER AND 0.53% COPPER AT LAS BOQUILLAS; SAMPLING AT CINCO SENORES AND AREA DEPOSITS CONFIRMS WIDESPREAD GOLD-SILVER-COPPER MINERALIZATION

Source Exploration Corp. has provided additional assay results for its surface and underground rock sampling program at its recently acquired Las Minas project located in western Veracruz state, Mexico. Assay results have been received for sampling at the Las Boquillas, Cinco Senores, Yanillo and Las Minillas skarn targets as well as the La Miqueta, San Jose de Oro and El Alto historical mines.

"These recent assay results for the Las Boquillas and Cinco Senores skarn zones are very encouraging as they confirm the potential for outlining a bulk tonnage skarn deposits with significant gold, silver and copper mineralization," states Brian Robertson, Source's President and CEO. "Sampling at other target areas on the property has also identified additional high priority drill targets." "These early results will guide our upcoming diamond drilling program, which is scheduled to commence in February."

Sampling Results

The samples for Las Boquillas and Cinco Senores were all located within the Endoskarn, with highlights of recent assay presented in Tables 1 and 2 below. Current work suggests that the Las Boquillas and Cinco Senores mineralized zones are from the same system. When combined with the El Dorado and Nopaltepec zones, the indicated strike length of the system is approximately 2 kilometres, with widths often in the tens of metres. Plan maps showing the various sites and location of the samples at Las Boquillas Adit #3 can be viewed on the Company's website at www.sourceexploration.com - see Project - Maps.




Table 1 Sampling Results Las Boquillas Adit #3

----------------------------------------------------------------------------
Sample No Location Width (M) Au g/t Ag g/t Cu % Type
----------------------------------------------------------------------------
2528 Adit #2 - Surface 2.0 5.19 3.8 0.11 Endoskarn
----------------------------------------------------------------------------
2529 Adit #2 - Surface 2.0 3.12 2.8 0.17 Endoskarn
----------------------------------------------------------------------------
2530 Adit #2 - Surface 2.0 6.39 7.1 0.43 Endoskarn
----------------------------------------------------------------------------
2532 Adit #2 - Surface 2.0 2.86 2.9 0.08 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 8.0 4.39 4.2 0.20
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2533 Adit #3 - Surface 2.0 1.71 2.0 0.10 Endoskarn
----------------------------------------------------------------------------
2534 Adit #3 - Surface 2.0 1.15 1.9 0.11 Endoskarn
----------------------------------------------------------------------------
2535 Adit #3 - Surface 2.0 1.20 1.5 0.11 Endoskarn
----------------------------------------------------------------------------
2536 Adit #3 - Surface 2.0 3.09 4.50 0.21 Endoskarn
----------------------------------------------------------------------------
2537 Adit #3 - Surface 2.0 5.21 3.8 0.48 Endoskarn
----------------------------------------------------------------------------
2538 Adit #3 - Surface 2.0 9.94 10.1 1.37 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 12.0 3.71 4.0 0.40
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2539 Adit #3 2.0 5.26 4.2 0.17 Endoskarn
----------------------------------------------------------------------------
2540 Adit #3 2.0 4.20 4.0 0.17 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 4.0 4.71 4.1 0.17
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2542 Adit #3 2.0 3.66 494.0 0.39 Endoskarn
----------------------------------------------------------------------------
2543 Adit #3 2.0 5.82 282.0 0.60 Endoskarn
----------------------------------------------------------------------------
2544 Adit #3 2.0 8.65 9.2 0.44 Endoskarn
----------------------------------------------------------------------------
2545 Adit #3 2.0 5.15 16.5 0.18 Endoskarn
----------------------------------------------------------------------------
2546 Adit #3 2.0 16.06 19.8 0.75 Endoskarn
----------------------------------------------------------------------------
2547 Adit #3 2.0 12.22 23.2 0.72 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 12.0 8.59 140.8 0.53
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2548 Adit #3 2.0 6.97 5.2 0.50 Endoskarn
----------------------------------------------------------------------------
2549 Adit #3 2.0 0.26 0.80 0.06 Endoskarn
----------------------------------------------------------------------------
2551 Adit #3 2.0 3.09 4.5 0.09 Endoskarn
----------------------------------------------------------------------------
2552 Adit #3 2.0 0.69 1.4 0.19 Endoskarn
----------------------------------------------------------------------------
2553 Adit #3 2.0 0.73 1.1 0.28 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 10.0 2.35 2.60 0.22
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2554 Adit #3 2.0 17.93 10.9 1.18 Endoskarn
----------------------------------------------------------------------------
2555 Adit #3 2.0 1.94 2.6 0.06 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 4.0 9.94 6.8 0.62
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2556 Adit #3 2.0 24.65 10.5 0.20 Endoskarn
----------------------------------------------------------------------------
2557 Adit #3 2.0 4.22 5.5 0.23 Endoskarn
----------------------------------------------------------------------------
2558 Adit #3 2.0 1.00 1.7 0.244 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 6.0 9.95 5.9 0.22
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2559 Adit #3 2.0 8.71 9.60 1.05 Endoskarn
----------------------------------------------------------------------------
2560 Adit #3 2.0 0.05 0.70 0.08 Endoskarn
----------------------------------------------------------------------------
2562 Adit #3 2.0 0.08 1.10 0.20 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 6.0 2.94 3.8 0.44
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2563 Adit #3 2.0 1.61 1.30 0.14 Endoskarn
----------------------------------------------------------------------------
2564 Adit #3 2.0 0.38 39.7 0.08 Endoskarn
----------------------------------------------------------------------------
2565 Adit #3 2.0 3.06 3.5 0.29 Endoskarn
----------------------------------------------------------------------------
2566 Adit #3 2.0 2.85 4.1 0.23 Endoskarn
----------------------------------------------------------------------------
2567 Adit #3 2.0 1.32 1.9 0.15 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 10.0 1.85 10.1 0.12
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2568 Adit #3 2.0 1.67 3.30 0.20 Endoskarn
----------------------------------------------------------------------------
2569 Adit #3 2.0 1.34 39.3 0.11 Endoskarn
----------------------------------------------------------------------------
2570 Adit #3 2.0 1.47 2.10 0.04 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 6.0 1.47 14.90 0.12
----------------------------------------------------------------------------

Table 2 Sampling Results Cinco Senores

----------------------------------------------------------------------------
2817 Cinco Senores 2.0 1.12 5.6 0.14 Endoskarn
----------------------------------------------------------------------------
2818 Cinco Senores 2.0 1.38 18.0 0.52 Endoskarn
----------------------------------------------------------------------------
2819 Cinco Senores 2.0 0.39 3.1 0.15 Endoskarn
----------------------------------------------------------------------------
2820 Cinco Senores 2.0 0.42 2.7 0.05 Endoskarn
----------------------------------------------------------------------------
2822 Cinco Senores 2.0 1.80 10.3 0.18 Endoskarn
----------------------------------------------------------------------------
2823 Cinco Senores 2.0 0.61 4.5 0.29 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 12.0 0.96 7.37 0.22 Endoskarn
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2824 Cinco Senores 2.0 0.78 5.0 0.14 Endoskarn
----------------------------------------------------------------------------
2825 Cinco Senores 2.0 0.05 0.15 0.02 Endoskarn
----------------------------------------------------------------------------
2826 Cinco Senores 2.0 0.05 0.15 0.03 Endoskarn
----------------------------------------------------------------------------
2827 Cinco Senores 2.0 0.36 2.5 0.07 Endoskarn
----------------------------------------------------------------------------
2828 Cinco Senores 2.0 0.84 4.3 0.06 Endoskarn
----------------------------------------------------------------------------
2829 Cinco Senores 2.0 3.07 23.9 0.67 Endoskarn
----------------------------------------------------------------------------
2830 Cinco Senores 2.0 0.27 2.3 0.04 Endoskarn
----------------------------------------------------------------------------
2832 Cinco Senores 2.0 0.17 1.8 0.03 Endoskarn
----------------------------------------------------------------------------
2833 Cinco Senores 2.0 1.44 7.4 0.25 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 18.0 0.78 5.28 0.15
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2834 Cinco Senores 2.0 1.72 2.9 0.23 Endoskarn
----------------------------------------------------------------------------
2835 Cinco Senores 2.0 4.24 2.1 0.16 Endoskarn
----------------------------------------------------------------------------
2836 Cinco Senores 2.0 1.56 1.7 0.16 Endoskarn
----------------------------------------------------------------------------
2837 Cinco Senores 2.0 6.20 3.1 0.16 Endoskarn
----------------------------------------------------------------------------
2838 Cinco Senores 2.0 0.07 0.7 0.03 Endoskarn
----------------------------------------------------------------------------
2839 Cinco Senores 2.0 0.08 0.7 0.00 Endoskarn
----------------------------------------------------------------------------
2840 Cinco Senores 2.0 0.65 2.0 0.01 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 14.0 2.07 1.9 0.18
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2841 Cinco Senores 2.0 0.71 6.7 0.31 Endoskarn
----------------------------------------------------------------------------
2843 Cinco Senores 2.0 1.43 11.3 0.58 Endoskarn
----------------------------------------------------------------------------
2844 Cinco Senores 2.0 0.83 6.0 0.46 Endoskarn
----------------------------------------------------------------------------
2845 Cinco Senores 2.0 1.93 7.6 0.27 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 8.0 1.22 7.90 0.40
----------------------------------------------------------------------------

----------------------------------------------------------------------------
2846 Cinco Senores 2.0 4.05 0.2 0.02 Endoskarn
----------------------------------------------------------------------------
2847 Cinco Senores 2.0 0.79 5.1 0.25 Endoskarn
----------------------------------------------------------------------------
2848 Cinco Senores 2.0 1.13 2.2 0.07 Endoskarn
----------------------------------------------------------------------------
2849 Cinco Senores 2.0 0.36 1.8 0.13 Endoskarn
----------------------------------------------------------------------------
Total Length & Average Grade 8.0 1.58 2.3 0.12
----------------------------------------------------------------------------

New Target Areas

Table 3 below provides a summary of highlights from initial sampling results from other target areas and historical mines located on the property. Recent work has focused on the Yanillo target area where extensive mineralization has been identified over a large area with significant indicated widths. Full results from the Yanillo sampling are expected in the coming weeks. Preliminary field work has also identified potential drill targets at the Las Minillas (bulk tonnage) mineralized zone, San Jose de Oro mine and the Changaro vein deposit. The Las Minillas zone outcrops on surface and is connected by a 200 metre access drift to the underground workings of the historical San Jose de Oro mine. The Changaro vein deposit measures approximately 20 metres in width and is on strike with the El Alto vein system. Sampling has recently been completed at the Changaro vein deposit and further sampling is planned for the Las Minillas zone and San Jose de Oro mine.




Table 3 Sampling Results Area Deposits

----------------------------------------------------------------------------
Skarn
846 Yanillo 2.0 4.99 30.6 0.97 Outcrop
----------------------------------------------------------------------------

----------------------------------------------------------------------------
833 La Miqueta Mine 0.28 8.92 11.7 0.32 Vein
----------------------------------------------------------------------------
836 La Miqueta Mine 0.15 6.57 14.8 0.43 Vein
----------------------------------------------------------------------------

----------------------------------------------------------------------------
838 Las Minillas 2.00 2.54 1.0 0.12 Skarn
----------------------------------------------------------------------------
839 Las Minillas 2.00 2.40 0.02 0.05 Skarn
----------------------------------------------------------------------------

----------------------------------------------------------------------------
840 San Jose de Oro Mine 2.0 3.89 26.6 0.83 Skarn
----------------------------------------------------------------------------
841 San Jose de Oro Mine 2.0 2.48 17.3 0.22 Skarn
----------------------------------------------------------------------------

----------------------------------------------------------------------------
843 El Alto Mine 2.0 3.95 17.2 0.16 Vein
----------------------------------------------------------------------------
844 El Alto Mine 2.0 2.46 22.1 1.02 Skarn
----------------------------------------------------------------------------
845 El Alto Mine 2.0 3.56 35.6 2.05 Skarn
----------------------------------------------------------------------------

Quality Assurance/Quality Control

The Source exploration program has been conducted under the supervision of Mr. Sonny Bernales, P. Geo. The Company has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards and blanks for each batch of samples. Samples were shipped to SGS Mineral Services (ISO/IEC 17025) at Durango, Mexico, an accredited laboratory.

The technical information in this news release has been reviewed and approved by Sonny Bernales, P. Geo., Source's, Project Manager, a certified professional geologist and a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Shoal Point's 3K-39 well at surface casing point
Ticker Symbol: C:SHP

Shoal Point's 3K-39 well at surface casing point

Shoal Point Energy Ltd (C:SHP)
Shares Issued 128,325,428
Last Close 1/28/2011 $0.385
Monday January 31 2011 - News Release

Mr. R. Murray reports

SHOAL POINT 3K-39 WELL UPDATE WESTERN NEWFOUNDLAND

Shoal Point Energy Ltd. is presenting the following information on the Green Point oil-in-shale project in the Port au Port Bay area in Western Newfoundland:

Drilling

The DLMC et al. Shoal Point 3K-39 well is currently at the surface casing point. The surface hole is on target and the next operation will be to run and cement 244.5mm casing to surface. Since the current well is twinning the earlier 2K-39 well, the geology in the two wells correlates very closely, as expected.

Project Research

In order to maximize our understanding of the Green Point shale play, and to plan the current well, the project group has conducted or commissioned a number of investigations. These include outcrop sampling; petro-physical re-interpretation of well logs; geophysical re-mapping; resource estimating and a re-evaluation of the K-39 drillstem test.

As part of this program, we have examined closely the information provided by the 2K-39 well. In the course of so doing, it has been noted that certain statements to the effect that 2K-39 flowed some 54 bbls of oil into the wellbore are not substantiated by the well records. In fact no oil flowed from the formation into the wellbore and the well was at all times under control. The source of the oil which was observed in the mud was from oil liberated by cuttings from the thick oil-bearing shale being penetrated by the drill.

"We are pleased that the drilling of 3K-39 is progressing well and confirming the results of the earlier 2K-39 borehole, and look forward to our complete evaluation of the Green Point target over the next days and weeks. Our geological team in Calgary has recently completed a comprehensive review of data from wells and outcrop in the area of Port au Port Bay and we are very pleased with the results. 3K-39 is designed to greatly enhance that database and provide us with key information on the amount of oil that may be recovered from the unconventional Green Point reservoir" said George Langdon," CEO of Shoal Point Energy Ltd.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

 

Source samples up to 24 m of 5.5 g/t Au at Las Minas
Ticker Symbol: C:SOP

Source samples up to 24 m of 5.5 g/t Au at Las Minas

Source Exploration Corp (C:SOP)
Shares Issued 45,592,310
Last Close 1/11/2011 $0.59
Wednesday January 12 2011 - News Release

Mr. Brian Robertson reports

SOURCE REPORTS CHANNEL SAMPLE RESULTS OF UP TO 24 METRES OF 5.5G/T GOLD, 8.2G/T SILVER AND 0.38% COPPER AT LAS MINAS; EWAN S. DOWNIE APPOINTED AS CHAIRMAN OF THE BOARD

Source Exploration Corp. has released preliminary assay results for its underground sampling program at the company's recently acquired Las Minas project located in western Veracruz state, Mexico, as well as the appointment of Ewan S. Downie as non-executive chairman of the board.

Sampling Program

Source recently carried out a sampling program at the Las Minas property. This work has been completed in advance of a diamond drilling program scheduled for the 1st quarter of 2011.

Preliminary sampling results have been received for the sampling of Adit # 2 at the historic Las Boquillas mine, one of the primary targets on the property. The walls of the existing openings were sampled and details are provided in the attached drawing of the underground workings. The highest assay values received include 20.5 g/t gold, 40.4 g/t silver and 2.08% copper. Thirty one samples taken at Las Boquillas, or 43 percent of the total samples, graded greater than 1.0 g/t gold. Results of the sampling program completed Las Boquillas are shown in Table 1 and a summary is provided in Table 2.

In addition to Las Boquillas, comprehensive sampling was undertaken at Cinco Senores prospect as well as preliminary sampling at La Miqueta, Las Minillas, San Jose de Oro, El Alto and Yanillo prospects (photos available at Source's website). The Cinco Senores and Las Boquillas mineralized zones suggest a strike length of approximately 1 km with widths of up to 50 metres in places. Further assays are expected in the near future."

 

 

 

 

 

Pacific Coast, Marifil receive TSX-V OK for option deal
Ticker Symbol: C:NKL C:MFM

Pacific Coast, Marifil receive TSX-V OK for option deal

Pacific Coast Nickel Corp (C:NKL)
Shares Issued 39,944,000
Last Close 1/12/2011 $0.205
Thursday January 13 2011 - News Release

Also Marifil Mines Ltd (C:MFM) News Release

Mr. James Walchuck of Pacific Coast reports

PACIFIC COAST RECEIVES APPROVAL FROM TSX VENTURE EXCHANGE TO TERMS OF THE OPTION AGREEMENT BEWTEEN PACIFIC COAST MARIFIL MINES LIMITED, CLARIFICATION OF OPTION AGREEMENT TERMS AND GRANT OF STOCK OPTIONS

Pacific Coast Nickel Corp. has received approval from the TSX Venture Exchange for the previously reported in Stockwatch transaction involving the letter agreement with Marifil Mines Ltd. On Nov. 8, 2010, Pacific Coast Nickel announced in Stockwatch that it entered into a letter agreement with Marifil Mines for an option to acquire a 70-per-cent interest in the Las Aguilas nickel-copper-platinum group metals property located in San Luis province, Argentina. The company inadvertently omitted a term of the agreement. The complete correct terms are listed below.

The Las Aguilas Property is located in San Luis Province, Central Argentina, approximately 730 km WNW of Buenos Aires, and 30 km NE of San Luis, the province capital. The approximate coordinates of the centre of the property are 330 07' S, and 660 08' W.

Marifil has reported that the Las Aguilas deposit contains a historical resource of 2.2 million tonnes grading about 0.52% nickel, 0.50% copper, 0.04% cobalt and significant amounts of platinum group elements. (this is not a National Instrument 43-101 compliant resource estimate). This resource was calculated from 10,000 meters of diamond drilling between 1970 and 1984.

The resources are categorized as "historical estimates" and have not been reviewed or verified under National Instrument 43-101. However, the Company believes that the property has the potential to add significant additional nickel mineralization. The historical exploration data was developed by the Argentine government agency Fabricaciones Militares which conducted an exploration program in the area.

Additional drilling was conducted by a former partner of the property in 2007 and 2008, which is anticipated to expand the historical resource estimate significantly.

The agreement with Marifil provides for payments and work commitments as follows:

To earn a 49% interest in the property:

Cash and Shares

1) $25,000 upon signing and 250,000 shares on approval of the TSX Venture Exchange; and

2) $75,000 and 250,000 shares on or before April 1, 2012;

3) $100,000 and 250,000 shares on or before April 1, 2013

4) $100,000 and 250,000 shares on or before April 1, 2014

Work Commitments

1) On or before April 1, 2012 complete a resource estimate based on work completed to date,

2) On or before April 1, 2013 incur $500,000 in exploration expenditures,

3) On or before April 1, 2014 incur $500,000 in exploration expenditures,

4) On or before April 1, 2015 incur $1,000,000 in exploration expenditures.

The agreement also provides for Pacific Coast to earn an additional 11% (bringing the interest to 60%) for preparation of a pre feasibility study and issue an aggregate 2,000,000 shares by April 15, 2015. In order for the Company to acquire a further and final 10% interest (bringing the total interest to 70%), the Company must complete a feasibility study, make a cash payment of $100,000 to Marifil and issue an aggregate of 1,000,000 shares to Marifil by April 1, 2016.

The agreement also provides for granting of a 3% NSR to Marifil of which 0.5% can be purchased for $1,000,000 and a further 0.5% can be purchased at any time for an additional $2,000,000. Pacific Coast retains the option of buying Marifil's remaining 30% for $5,000,000.

The Company also announces, subject to TSX Venture approval, it has granted 500,000 stock options to directors of the Company. The options are set for a period of five years and will allow the holder to purchase a share in the Company as a price of $0.20, representing the January 11, 2010 closing price of the shares on the TSX Venture Exchange). Any shares issued on the exercise of these options will be subject to a four-month hold period from the date of the grant.

Murray McClaren, P.Geo., is the Qualified Person under National Instrument 43-101 who has approved the technical content of this news release.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Shoal Point operator starts drilling 3K-39 well
Ticker Symbol: C:SHP

Shoal Point operator starts drilling 3K-39 well

Shoal Point Energy Ltd (C:SHP)
Shares Issued 128,325,428
Last Close 1/13/2011 $0.35
Friday January 14 2011 - News Release

Mr. Brian Murray reports

SHOAL POINT 3K-39 WELL UPDATE

Shoal Point Energy Ltd. has been informed by the operator, Dragon Lance Management Corp., that operations have commenced on the Shoal Point 3K-39 well in western Newfoundland. The 3K-39 well will be directionally drilled from an onshore surface location on the northern tip of Shoal Point to a subsurface target beneath Port au Port Bay and is designed to test the Green Point oil-in-shale resource play in Permit EL 1070.

Drilling, using the Nabor's No. 112 drill rig, is estimated to take between 20 and 30 days. The planned total drilled depth of the 3K-39 well is 2,200 metres (1,450 metres total vertical depth). The drilling of the 3K-39 well will be conducted as a "tight hole".

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Prophecy, Pacific Coast sign Wellsgreen, Lynn Lake deal
Ticker Symbol: C:PCY C:NKL

Prophecy, Pacific Coast sign Wellsgreen, Lynn Lake deal

Prophecy Resource Corp (2) (C:PCY)
Shares Issued 184,981,199
Last Close 1/17/2011 $0.97
Tuesday January 18 2011 - News Release

Also Pacific Coast Nickel Corp (C:NKL) News Release

Mr. John Lee of Prophecy reports

PACIFIC COAST NICKEL CORP. PURCHASES WELLGREEN PGM AND LYNN LAKE NICKEL PROJECTS FROM PROPHECY RESOURCE CORP.

Prophecy Resource Corp. and Pacific Coast Nickel Corp. have entered into a binding letter of agreement dated Jan. 17, 2011, whereby PCNC will acquire Prophecy's nickel PGM (platinum group metals) projects by issuing common shares to Prophecy.

Terms of the Transaction

Pursuant to the Agreement, PCNC will acquire the Wellgreen PGM Ni-Cu and Lynn Lake nickel projects located in the Yukon Territory and Manitoba respectively (the "Properties") by issuing up to 550 million common shares of PCNC to Prophecy. PCNC currently has 55.7 million shares outstanding.


Following the Transaction,


-- Prophecy will own approximately 90% of PCNC.
-- PCNC will consolidate its share capital on a 10 old for 1 new basis.
-- Prophecy will change its name to "Prophecy Coal Corp." and PCNC will be
renamed as "Prophecy Platinum Corp."
-- Prophecy intends to distribute half of its PCNC share to shareholders
pro rata in accordance with their holdings (the "PCNC Distribution").

Based on the closing price of the common shares of PCNC on January 17, 2010, being $0.195 per share, the gross value of the Transaction is $107,250,000.

John Lee, the current Chairman of PCNC, is appointed Interim CEO of PCNC effective immediately. PCNC thanks Mr. James Walchuk, departing PCNC CEO for his invaluable experience and service to PCNC.


Highlights of the Transaction


-- Prophecy shareholders realize the value of Prophecy's Canadian projects
through PCNC distribution.
-- PCNC becomes a mid-tier resource firm with substantial Nickel PGM
assets, including Wellgreen (Yukon), Lynn Lake (Manitoba), and Las
Aguilas (Argentina) projects.
-- Prophecy sets pure focus on its Mongolian coal operation, while holding
equity positions in PCNC and Victory Nickel Inc.
-- PCNC will have Prophecy as a major shareholder, and leverage the
marketing and technical expertise of Prophecy.

John Lee, Chairman and CEO of Prophecy states: "This transaction unlocks the intrinsic value of Prophecy's assets. Investors will have a choice to own Prophecy Coal for 1.4-billion-tonne coal exposure, or own Prophecy Platinum for unique and significant Nickel PGM exposure."

Further Detail Regarding the Transaction

It is contemplated that the Transaction will be completed by way of a Plan of Arrangement, structured in such a way that will result in the financial terms of the Transaction being met. The parties have agreed to complete the Transaction by May 31, 2011.

Holders of share purchase warrants of Prophecy will be entitled to participation in the PCNC Distribution in accordance with the terms of their respective warrants. Holders of stock options of Prophecy will not be entitled to participation in the PCNC Distribution.

In addition to the terms as set forth above, Prophecy has agreed to fund up to $2,000,000 of qualified flow through expenditures on the Properties over the period commencing as of the date of the Agreement until December 31, 2011 and has agreed to make a payment of $600,000 to Victory Nickel Inc. necessary to keep the Lynn Lake property in good standing until April 2012.

The boards of PCNC and Prophecy have each appointed a special committee to review the Transaction. John Lee and Greg Hall, as members of the boards, and in respect of John Lee, as Chairman and CEO, of both Companies, have abstained from voting in respect of the Agreement and will abstain from voting in respect of matters involving the Transaction. The board of PCNC will remain unchanged.

The final structure and ratios of the Transaction will be subject to the receipt of final tax, corporate and securities law advice and receipt of a positive fairness opinion from an independent advisor by each of Prophecy and PCNC.


Completion of the Transaction is conditional upon:


-- PCNC and Prophecy, if required, shareholders having approved the
Transaction;
-- receipt of all necessary regulatory approvals, including the approval of
the TSX Venture Exchange (the "Exchange");
-- receipt of approval of the British Columbia Supreme Court, if
applicable;
-- receipt by both Companies of a positive fairness opinion concerning the
Transaction as prepared by an independent advisor;
-- Prophecy shareholders or PCNC shareholders not having exercised rights
to dissent over more than 5% of the shares of Prophecy or 5% of the PCNC
shares;
-- certain other customary conditions.

Projects being Acquired by PCNC

The Wellgreen PGM Ni-Cu Project

The Wellgreen PGM Ni-Cu property covers an area of approximately 22 square miles in the Yukon Territory, Canada. The property has easy road access, located approximately 35 kilometres northwest of Burwash Landing, Yukon, 15 km from the paved 2 lane Alaska Highway and 402 km from Alaska's Haines deep sea port. Wellgreen is part of Kluane Ultramafic Nickel belt, which is second largest behind the Thompson Belt in Canada and remains vastly unexplored. In 1972, Hudbay milled 171,652 tons grading 2.23% Copper and 1.39% Nickel. A total of 701 holes (182 surface, 519 underground) totalling 53,222 meters (28,303 meter surface, 24,919 meters underground) by previous operators. A historic, non 43-101 compliant geological resource (1989) estimated 55 million tonnes of 0.36% Ni, 0.35% Cu, 0.78 g/t PGM at Wellgreen. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the Company is not treating the historical estimate as current mineral resources but as a historical estimate that should not be relied upon.

The current approach at Wellgreen has been to define the project's full potential as a large, bulk tonnage, open pit operation. An independent NI 43-101 report prepared for Prophecy by Wardrop Engineering ("Wardrop") dated July 2010 indicates that the potential of the Wellgreen property ranges between 77 to 254 million tonnes at 0.26 to 0.38% Nickel, 0.26% to 0.36% Copper, 0.55 to 0.85 g/t Platinum and Palladium, based on a strike length range of 4,000 to 7,000m and a width of 30 to 35m. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in any discovery of a mineral resource. Subsequent to Wardrop's Wellgreen Report Prophecy intercepted encouraging mineralization at Wellgreen including 496.06 meters of 0.596 g/t PGM+Au, 0.27% Ni, 0.18% Cu, 0.02% Co from Surface. (Please refer to Prophecy September 27th news). Prophecy currently is assaying past drill cores for Iridium, Osmium, Ruthenium, and Rhodium to obtain the full PGM grades at Wellgreen, and Prophecy intends to start drilling in April when weather permit.

The Lynn Lake Nickel Project

In October 2009, Prophecy entered into an agreement to acquire a 100% interest in The Lynn Lake Nickel Project from Victory Nickel Inc. (TSX: NI). The deposit is in Manitoba, Canada, which is mining friendly and also adjacent to a power line, rail line, and airport. Lynn Lake contains Measured and indicated mineral resources of 22.9 million tons of grading, of 0.57% nickel and 0.30% copper and and 8.1 million tonnes of Inferred Resource at 0.51% Nickel & 0.28% Copper (Wardrop Technical Report May, 2010). Approximately 50% of the host rock remains unexplored. An exciting 2008 discovery, the Disco Zone, includes intercepts of 47 meters of 0.7% nickel located 1.5km away from the outlined resource. A 3,000m 2010 drill program intercepted an additional discovery zone, the Tango Zone, details of which are outlined in Prophecy news release, December 6, 2010. The aforementioned Wardrop resource estimate does not include either the Disco Zone or Tango Zone discoveries. Prophecy recently completed extensive induced polarization (geophysics) programs and has initiated bulk tonnage metallurgical testing at Lynn Lake in preparation for a combination of infill and exploratory drill programs and a forthcoming feasibility study at Lynn Lake.

The information concerning the current mineral properties controlled by Prophecy, as described in this news release, has been reviewed and approved by Danniel Oosterman, P.Geo., a Prophecy Geologist and a Qualified Person under National Instrument 43-101.

In accordance with Exchange policies, the shares of PCNC are currently halted from trading and will remain so until the documentation required by the Exchange for the Transaction can be provided to the Exchange.

Further information pertaining to the Properties and Prophecy is available at Prophecy's SEDAR profile at www.sedar.com, where investors may review technical reports prepared in respect of the Properties and Prophecy's annual and interim financial statements.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 

 

 

 

Lions Gate Metals starts Poplar drilling
Ticker Symbol: C:LGM

Lions Gate Metals starts Poplar drilling

Lions Gate Metals Inc (C:LGM)
Shares Issued 16,231,694
Last Close 1/21/2011 $0.78
Monday January 24 2011 - News Release

Mr. Arni Johannson reports

LIONS GATE METALS COMMENCES POPLAR PROJECT DRILL PROGRAM

Lions Gate Metals Inc. has commenced a 5,200-metre diamond drill program at its 100-per-cent-owned flagship Poplar project. The drill program will test mineralization at depths up to 600 metres, based on results of the 2009 deep induced polarization (IP) survey, as well as expanding the size of the Poplar main zone. The company also plans to include these results in an updated, National Instrument 43-101-compliant resource expected in the first half of 2011.

The goal of the program will be to increase the size and grade of the published mineral resource at the Poplar Main Zone, and to test the depth extensions of the East Zone. The published resource is 236,000,000 tonnes at 0.37% copper equivalent grade using a 0.25% copper equivalent grade cutoff (House and Ainsworth, 1995 in CIM Special Volume 46). The estimate was made on behalf of Utah Mines Ltd. in 1982 based on approximately 17,000 metres of diamond drill data collected to that time. Equivalent grades for copper were calculated using 1982 prices for copper and molybdenum. This reserve estimate was prepared prior to the implementation of National Instrument 43-101 Standards of Disclosure for Mineral Projects, and does not comply with that standard; nor does the term copper equivalent grade comply with that standard.

"The start of this drill program represents a significant milestone for Lions Gate Metals," says Arni Johannson, CEO and Chairman. "Developing the Poplar Project has always been a priority and we are extremely excited and optimistic that the results will indicate what we have always suspected; that the deposit is significantly larger and higher grade."

Lions Gate Metals Inc. is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects. Lions Gate Metals owns 100 % of four substantial copper and molybdenum projects located in British Columbia. The management team understands the complex dynamics of the mining industry and has created a highly attractive corporate structure to maximize success.

Technical Information contained in this news release has been reviewed and approved by Andrew Gourlay, P. Geol., Vice President of Exploration who is a Qualified Person as defined in NI 43-101.

We seek Safe Harbor.

2011 Canjex Publishing Ltd.

 

 




Teslin River signs deal to acquire Queensgate

Ticker Symbol: C:TLR

Teslin River signs deal to acquire Queensgate

Teslin River Resources Corp (C:TLR)
Shares Issued 28,081,889
Last Close 1/7/2011 $0.09
Monday January 10 2011 - News Release

Mr. Michael Sweatman reports

TESLIN SIGNS LETTER AGREEMENT TO ACQUIRE QUEENSGATE AND ANNOUNCES FINANCING

Teslin River Resources Corp. has signed a letter agreement with Queensgate Resources Corporation proposing to purchase all the outstanding shares of Queensgate. The letter agreement proposes Teslin issuing one share for each outstanding share of Queensgate.

Queensgate is a private company registered in Quebec. Through its 100 percent owned subsidiary in Nevada, Queensgate owns 100% of the Mustang Property and the Morning Star Property in the Walker Lane mineral trend in Nevada.

About Mustang

The Mustang Property is comprised of 66 claims that are 100% owned by Queensgate. Surface sampling on the Mustang Property in 2008 included 11.92g/t Au and 74.1g/t Ag collected on an adjacent claim within 60 meters of the boundary. A 8 hole, 1,800 meter reverse circulation drilling program is planned for the property.

About Morning Star

The Morning Star Property is comprised of 97 claims with Queensgate having 100% mineral rights with a 3% NSR. A 40 line-kilometer IP survey identified two significant drill targets for which a 8 hole, 1,500 meter reverse circulation drilling program has been planned.

"We are very pleased to be in the final stages of acquiring these excellent gold/silver targets," said Michael Sweatman, President and CEO of Teslin. "We look forward to moving ahead quickly on the drill programs and further exploration as warranted."

The Company also announces that it is proceeding with a non-brokered private placement (the "Private Placement") to raise up to $1,250,000. The funds from this financing will be used to start exploration on the new properties and continue work at the Tagai property and as general working capital.

The financing will consist of 12,500,000 units (the "Units") at a price of $0.10 per Unit. Each unit will consist of one common share and one half share purchase warrant (the "Warrants"). Each whole Warrant will allow the holder to acquire an additional common share of the Company at a price of $0.15 per share for a period of two years following the date of issuance of the unit. In the event the common shares of the Company close for 20 consecutive trading days at an average price of $0.30 or above, the Company shall have the right to accelerate the conversion of the Warrants at the exercise price. Any warrants that remain unexercised will expire 30 days after issuance of notice of forced conversion by the Company, which may be completed by way of press release.

Finder's fees may be paid on all or any portion of the Private Placement. The private Placement is subject to regulatory approval and the securities will be subject to a four month resale restriction.

About Queensgate Resources Corporation

Queensgate Resources Corporation is a private company, founded in 2008, whose principal interest has been exploring and developing epithermal precious metal resource potential in Nevada. Queensgate is currently developing two properties, both having sufficient work to develop drilling programs for the 2011 drilling season. The acquisitions and work programs have been led by Mr. John Kerr, whose has 40 years of expertise and experience in Nevada precious metal deposits and Mr. Kerr will continue to provide similar opportunities to the management team of Teslin.

2011 Canjex Publishing Ltd.

 

 

 






Mineral Mountain drills 14.0 m of 4.66 g/t Au at Cook
Ticker Symbol: C:MMV

Mineral Mountain drills 14.0 m of 4.66 g/t Au at Cook

Mineral Mountain Resources Ltd (C:MMV)
Shares Issued 44,027,375
Last Close 1/7/2011 $0.68
Tuesday January 11 2011 - News Release

Mr. Nelson Baker reports

MINERAL MOUNTAIN INTERSECTS HIGH GRADE GOLD MINERALIZATION IN THE "COOK PORPHYRY ZONE", SHINING TREE AREA, ONTARIO

Mineral Mountain Resources Ltd. has released positive assays for the first three diamond drill holes from the continuing drill program which is targeting the Cook zone on block A, a part of the company's extensive land package totalling 145 square kilometres located in the heart of the emerging Shining Tree gold district. Recently, the company purchased block A from Benton Resources Corp. which is held under option to earn 70-per-cent interest from Golden Harp Resources Inc. (see news release in Stockwatch news of Oct. 26, 2010).

Highlights

DDH GH10-38 intersected 4.66 grams per tonne (g/t) Au over 14.0 metres including 13.01 g/t Au over 4.0 metres.
Gold mineralization hosted in intrusive alkaline porphyry intrusion, geologically similar to Creso Exploration's Minto deposit mineralization nearby and Lake Shore Gold's Thunder Creek deposit in the Timmins gold camp to the north.
All historic and present drilling has been shallow. The Cook zone offers excellent potential to host a commercial gold resource.
Cook porphyry zone

This zone was first discovered in the 1930s and is hosted within silicified and carbonate altered mafic and ultramafic volcanic rocks that have been intruded by alkaline porphyry displaying intermittent brecciation and pervasive alteration associated with strong quartz carbonate veining with sulphides with up to 3 per cent by volume. This zone has been subject to several diamond drill campaigns which have intersected significant, wide gold mineralization from several subparallel zones.

Some of the better historic downhole drill intersections prior to the Benton era (2009 to 2010) included 52.4 g/t Au over 4.0 metres (DDH B-04), 5.71 g/t Au over 4.6 metres (DDH B-06), 5.40 g/t Au over 7.6 metres (DDH T-14), 10.6 g/t Au over 3.1 metres (ORC-01) and 2.7 g/t Au over 13 metres (DDH KC-12).

Since March, 2009, Benton conducted three separate phases of diamond drilling on the Cook porphyry zone confirming that the zone is a strong mineralizing event. The results for all of the Benton drill phases are tabulated in the associated table.

In December, 2010, Mineral Mountain launched a 3,500-metre drill program targeting the southwest extension of the Cook porphyry zone at about the 150-metre level below surface. Three holes, GH 10-36, 37 and 38 were completed and sampled prior to the holiday period. Mineral Mountain drill hole GH 10-36 targeted the Benton holes GH 09-04, 05, 06 and 10 while GH 10-37 and 38 targeted Benton holes GH 09-01, 08 and 09. The associated table summarizes the results of the three holes completed by Mineral Mountain. The shapes and dimensions of the areas of gold mineralization are not yet fully understood, thus true widths of these intersections still cannot be determined.

Diamond drill crews resumed drilling of the Cook porphyry zone on Jan. 10, 2011.

Nelson Baker, president and chief executive officer, commented: "Drilling results from the Cook porphyry zone continue to demonstrate that it hosts a very large gold system with considerable potential to support either a standard high-grade mining or a low-cost bulk mining operation. The core of porphyry mineralization is similar to those found in world-class mines in the Timmins camp such as the Hollinger and McIntyre deposits. The excellent near-surface widths and grades intersected provide us with great confidence that the Cook porphyry could generate an important gold resource for the company."

Quality assurance and quality control program

Mineral Mountain has implemented the following quality assurance/quality control (QA/QC) procedures for all of the Shining Tree gold project drill programs:

Core was logged then sawed in half, with one side bagged and labelled; the remaining half was placed in core boxes for a permanent record and stored on site. All samples were transported to Accurassay preparation laboratory in Sudbury, after which pulps are shipped to the analytical laboratory in Thunder Bay, Ont. All samples sent for analyses were prepared using a jaw crusher, which was cleaned with compressed air between samples. A 250-gram split of the crushed sample with 70 per cent passing through a 10-mesh screen was pulverized with 85 per cent passing through a 200-mesh screen. Fire assays were performed using 50 grams of sample with assays equal to or greater than 10 g/t calculated gravimetrically and lower-grade samples measured by atomic absorption. Multielement analyses were performed using one gram of sample digested in aqua regia and analyzed by inductively coupled plasma atomic emission (ICPMS). Accurassay carries out duplicate assays on every 10th sample. Three standards (one high-grade, medium-grade and one low-grade) and one locally sourced blank were inserted sequentially at every 20th sample into the drill core samples before shipment. All the blanks returned no significant gold values. Standards displayed standard deviations of less than 0.16 g/t and geometric means of plus or minus 1 per cent of the known grade.

Core sample size varied from 0.5 metre to 2.0 metres with an average sample size of 1.14 metres. Quality control was monitored using a high-grade (5.49 g/t) and medium-grade (1.019 g/t) and low-grade (0.43 g/t) gold standard from Analytical Solutions Inc., as well as a locally sourced rock blank.

The project is managed by Joerg Kleinboeck, PGeo, and the drill program is supervised by Wally Rayner, PGeo, the company's vice-president of exploration, who has verified the contents of this press release and is the qualified person for this project.




SUMMARY OF DRILL RESULTS
MINERAL MOUNTAIN RESOURCES COOK PORPHYRY ZONE 2010

From To
Hole No. (m) (m) Length Au g/t

GH10-36 30.0 31.5 1.5 1.224
40.5 45.0 4.5 0.610
55.0 66.0 9.0 0.411
GH10-37 36.75 41.0 4.24 1.432
45.0 54.0 9.0 0.921
99.0 127.0 28.0 0.698
Including 119.0 122.0 3.0 2.548
GH10-38 93.0 107.0 14.0 0.944
113.0 118.0 5.0 2.059
146.0 157.0 11.0 0.787
161.0 175.0 14.0 4.658
Including 161.0 165.0 4.0 13.008


In drill hole GH10-38 a one-metre interval from 161 metres to 162 metres assayed 40.13 g/t gold, confirming the potential for high-grade shoots within the thicker sections of gold mineralization.



SUMMARY OF 2009 BENTON DRILL RESULTS -- COOK ZONE

Hole No. From To Length Au g/t

H09-01 200.1 233 32.9 1.933
Including 214.1 222.6 8.5 5.027
GH09-02 114.7 135.9 21.2 3.516
Including 130.4 135.9 5.5 11.968
GH09-02 152.0 157.3 5.3 3.04
GH09-03 138.3 139.8 1.5 2.79
216.6 221.6 5.0 1.431
GH09-04 141.1 145.1 4.0 1.260
163.7 169.4 5.7 0.743
GH09-05 248.5 252 3.5 0.556
GH09-06 61.9 72.4 0.5 1.390
174.5 177.5 3.0 21.405
GH09-07 122.0 123.3 1.3 1.500
GH09-08 293.0 297.5 4.5 0.688
GH09-09 51.5 66.0 14.5 0.418
72.0 107.0 35.0 0.838
Including 95.0 99.0 4.0 3.320
121.0 127.78 6.78 1.195
GH09-10 31.0 53.0 22.0 0.622
57.0 84.0 27.0 0.924

We seek Safe Harbor.

2011 Canjex Publishing Ltd.