WEEKLY ONLINE NEWS STORY
You are receiving this weekly newsletter at no additional cost as part of your subscription to Petroleum News. If you do not want to receive this newsletter, email Shane Lasley at publisher@miningnewsnorth.com to be removed from the list.

June 29, 2008 --- Vol. 2, No. 26June 2008

News Nuggets - Alaska

NIBLACK MINING CORP. JUNE 26 SAID THE UNDERGROUND drill program on the company's gold-silver-copper-zinc rich Niblack VMS property in southeast Alaska has resumed. The drilling will be situated at the second cross-cut approximately 742 meters, or 2,450 feet, within the main access tunnel, and is designed to expand the depth extent of the known zone of massive sulfide mineralization previously explored from surface. This phase of underground drilling program contemplates up to 8,000 meters, or 26,000 feet, of drilling aimed at expanding the Lookout and South Lookout zones at depth, and gaining greater confidence of existing mineral resource areas. In this area, some of the deeper drill intercepts from surface based exploration include drill hole LO-129 with grades of 3.26 grams per ton gold, 98 g/t silver, 4.52 percent copper and 16.38 percent zinc over 4.5 meters, or 14.8 feet, and drill hole LO-181 grading 4.68 g/t gold, 126 g/t silver, 5.83 percent copper and 6.23 percent zinc over 14.94 meters, or 49 feet. The underground exploration program is expected to continue more than 1,000 meters, or 3,000 feet, of drift development. To date, crews have advanced the main drift 788 meters, or 2,600 feet, in from the portal entrance.

INTERNATIONAL TOWER HILL MINES LTD. JUNE 26 SAID INITIAL drill results from the 2008 resource expansion program at its Livengood gold project in Interior Alaska. The company has received final results from 7 of the 19 holes drilled to date that are part of this year’s 150-hole, 45,000-meter program. Notable intercepts include: Hole MK-RC-008, with 202.69 meters of 1.37 grams per ton gold – including 30.5 meters of 4.1 g/t gold, and hole MK-RC-007, with 59.4 meters of 1.96 g/t gold –including 4.6 metres of 13.7 g/t gold. These intercepts were from infill holes on the southern and eastern side of the Lillian zone. These initial 2008 holes are a combination of step-out and infill holes that have extended the Livengood deposit to the west, north and south as well as expanding the high-grade core zone. They represent some of the best drill intersections returned from the property to date, with the deposit remaining open in all directions. Many of the new holes have intersected thicker and higher grade zones of mineralization than those used in estimating the 2007 inferred resource of 2 million ounces of gold. Assays for 12 additional holes are pending at this time. The company intends to arrange for the preparation of an updated NI 43-101 resource estimate midway through the 2008 program, anticipated to be released in mid-October.

ALASKANS AGAINST THE MINING SHUTDOWN JUNE 24 SAID it has produced a new documentary, Faces of Alaska Mining: 2008, which begins airing this week. The documentary shows the positive impacts that the mining industry has on Alaska, and the negative effects that a mining shutdown would have on communities across the state. Faces of Alaska Mining: 2008 features a number of prominent Alaskans including Helvi Sandvik, President of NANA Development Corporation, Mead Treadwell, former Deputy Commissioner of the Department of Environmental Conservation, Jim Calvin, Senior Economist with the McDowell Group, Irene Anderson, Land Manager for the Bering Straits Native Corporation and Jim Whitaker, Mayor of the Fairbanks North Star Borough. In addition to airing on Alaska television stations, the documentary will be shown at speaking engagements and available for viewing online at www.facesofalaskamining.com.

PURE NICKEL INC. JUNE 24 SAID IT WILL BEGIN A 3,500-METER drill program at the MAN nickel project in Interior Alaska 265 kilometers, or 165 miles south-southeast of Fairbanks. The company says that the goal of this year’s program is to intersect commercial grade nickel zones on the 720-square-kilometer, or 278-square mile-property. The initial drill targets this season will be in the Beta complex. . Pure Nickel said it has identified a number of anomalies and prioritized those targets based on extensive ground and airborne survey work. Beta targets are at relatively shallow depths with one area containing nickel-copper sulfide outcroppings. The company anticipates drilling to a depth of approximately 300 meters. The company also plans to drill the Alpha complex later in the season. The majority of the 42 holes drilled on the property have been at Alpha. Outcroppings and grab samples at MAN have yielded nickel grades running as high as 15 percent.

MILLROCK RESOURCES INC. JUNE 23 ANNOUNCED AN 1,800-meter core drilling program at the Bluff prospect in Northwest Alaska. The program, which will consist of approximately 10 holes, is designed to confirm prior drill intersections and to expand the historical gold resource reported by BHP-Utah Minerals Int. as a result of exploration conducted by the company from 1986 to 1990. The Bluff project is one of three land tracts covered under an exploration agreement between Millrock and Bering Straits Native Corporation signed earlier this year. The company said it signed a surface use agreement with White Mountain Native Corporation who controls surface access to the project. The company will pay White Mountain Native Corp. $20,000. With the execution of this surface use agreement, a finder's fee of $10,000 is payable to Donald Stevens, an Anchorage-based consulting geologist that brought the project to the attention of the Millrock.

LIBERTY STAR URANIUM & METALS CORP. JUNE 20 ANNOUNCED it has signed confidentiality agreements with leading gold mining companies on Liberty Star’s Bonanza Hills gold-silver project in Southwest Alaska. Liberty Star began seeking out companies interested in the exploration and possible development of Bonanza Hills after Millrock Resources informed the company it was exercising its option not to continue further exploration activities on the Bonanza Hills Project claims. Liberty Star set up and populated virtual data rooms with the pertinent information compiled on the project. Several mining companies are approved to review the data through mutually signed confidentiality agreements.

GOLDRICH MINING COMPANY (FORMERLY LITTLE SQUAW MINING Company) June 20 said it has put its Chandalar, Alaska gold exploration project on care and maintenance. Goldrich is seeking sufficient funds to carry out a drilling program recommended by independent mining engineers and geological consultants. The consultants identified the Chandalar geology as being favorable for discovery of sediment-hosted gold deposits that are comparable to the orogenic-type, mesothermal gold deposits in Russia. The company is actively pursuing a dual listing on a senior stock exchange and may initiate a public offering of its stock concurrent with a new listing. It is also exploring joint venture possibilities with senior mining companies.


Did you find this article interesting? Email it to an associate.
Print this story

Mining News North - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
Publisher@MiningNewsNorth.com --- http://www.MiningNewsNorth.com
S U B S C R I B E