STRONGBOW EXPLORATION INC. JUNE 25 PROVIDED AN UPDATE of exploration activities at the Nickel King and Snowbird nickel projects in southern Northwest Territories and northern Saskatchewan. The company reports that the current phase of exploration drilling at the Nickel King project has been completed. Forty-four holes for a total of 9,200 meters were drilled during the program, including thirty-one drill holes within the Main Zone. Drill hole NK08-35 intersected 51.58 meters with an average grade of 0.67 percent nickel and included 4 meters averaging 1.47 percent nickel, 0.30 percent copper and 0.061 percent cobalt. The diamond drill used at Nickel King has been moved south to the Dumas Lake area of the Snowbird nickel project. Strongbow says approximately 900 meters of drilling is planned for the Dumas Lake area. Follow-up exploration of priority target areas located elsewhere within the Snowbird Project started in early June. Initial results of this work include the identification of new occurrences of mafic and ultramafic rocks coincident with airborne geophysical and lake sediment geochemical anomalies in the Opescal Lake area straddling the Saskatchewan-Northwest Territories border.
COLUMBIA YUKON EXPLORATIONS INC. JUNE 25 REPORTED it is continuing to get long intersections of excellent molybdenum mineralization outside the known resource area on the company's Storie molybdenum property deposit located in northern British Columbia. In 2007, Columbia Yukon completed 76 drill holes for a total of 23,000 meters of core drilling designed to reclassify the NI 43-101 inferred resource of 101.6 million metric tons grading 0.067 percent molybdenum to an indicated and/or measured resource. The objective of the 2008 drilling program is to test the areas to the north, south and west of the known resource area in an effort to significantly increase the size of the resource. Thus far in 2008, Columbia Yukon has completed 4 core drill holes totaling 1888 meters. Drill holes ST08-97 and ST08-98 are located 50 meters south of the known resource area. Drill hole ST08-97 showed molybdenite mineralization from surface to 375 meters, and drill hole ST08-98 showed good mineralization from surface to 337 metres. Drill holes ST08-99 and ST08-100 are located 50 meters north and west of the known resource area. Drill hole ST08-99 intersected molybdenite mineralization from 70 to 565 meters with very intense mineralization from 120 to 526 meters. Drill hole ST08-100 intersected molybdenite mineralization from 160 to 551 meters with intense mineralization from 200 to 500 meters. Assay results are pending on this years drilling.
ADANAC MOLYBDENUM CORP. JUNE 24 SAID IT HAS RETAINED Michael MacLeod, P.Eng., as a consulting mining engineer to provide technical, commercial and business advice for the development of the Ruby Creek project in northwestern British Columbia. MacLeod has more than 25 years experience with several major and junior mining companies. He has been responsible for major capital projects, feasibility assessments, and marketing and environmental studies. Adanac announced on June 20 that it had received the provincial Mines Act Permit for its proposed 20,000 metric-ton-per-day Ruby Creek Molybdenum project. The project is in detailed engineering and all long lead time processing and mining equipment has been ordered. The Ruby Creek molybdenum project located near Atlin, BC contains an open pit reserve of 157.7 million metric tons grading 0.058 percent molybdenum using a 0.040 percent cutoff grade.
FIRESTONE VENTURES INC. JUNE 23 SAID ITS SHAREHOLDERS approved the plan of arrangement whereby the company will spin out its Sonora Gulch, Chopin and Alberta Sun properties to Northern Tiger Resources Inc. In addition, it is anticipated that Northern Tiger will complete its acquisition agreement with Sherwood Copper Corporation's wholly owned subsidiary Minto Explorations Ltd. and close its previously announced private placement upon completion of the arrangement. The arrangement was approved by the Alberta Court of Queen's Bench on June 23. Upon closing of the arrangement and related transactions, the Court-approved documents will be filed with the Alberta Registrar of Corporations to complete the arrangement, and each Firestone shareholder who was a shareholder of record on June 20 will receive one common share in Northern Tiger for every five common shares held in Firestone. The requested trading halt of Firestone shares, in place since the close of trading on June 16, will be removed and the common shares of Firestone will resume trading on June 24 at market opening. Firestone anticipates that the closing of the arrangement and related transactions will occur by June 24.
KAMINAK GOLD CORP. JUNE 23 ANNOUNCED THE PROPOSED timetable for the closing of Kaminak's uranium spin-out transaction. In addition, it announced completion of two financings for total proceeds of C$3.2 million by Kaminak's uranium spin-out company, Kivalliq Energy Corporation. Kivalliq Energy Corporation is a new, uranium-focused exploration and development company. A ground-breaking Inuit partnership and the combination of Kaminak Gold Corporation's uranium assets spawned the creation of Kivalliq.
MANTLE RESOURCES INC. JUNE 23 SAID THE 2008 DIAMOND drill program has started on its Akie zinc-lead property in northeastern British Columbia. One drill rig has started and a second is expected to be operational shortly. The company anticipates a 10,000-meter program this year that will focus on advancing the Cardiac Creek deposit via targeted drilling. Mantle also plans to conduct an exploration drill program to discover additional mineralization elsewhere on the property. In early June the company restarted its access road construction project with clearing and logging activities. The road, anticipated to be completed in September, will facilitate the exploration plans for this year. The road will also support the ongoing baseline environmental studies and provide access for upcoming underground exploration activities anticipated for Akie.
ALEXCO RESOURCE CORP. JUNE 19 SAID IT HAS RECEIVED the mining land use permit required to commence re-development of the historic Bellekeno Mine in the Keno Hill silver district of the Yukon Territory. The permit allows Alexco to complete an advanced underground exploration program, extract a bulk sample from the Southwest zone, and rehabilitate the historic workings in preparation for a production decision in early 2009. The mining land use permit was secured on schedule, and a second permit, a Type B Water Use Licence required for mine dewatering, is proceeding as planned. The Bellekeno Mine contains an inferred resource of 537,000 metric tons containing 1,016 grams per metric ton silver, 13.5 percent lead, and 10.7 percent zinc. The resource remains open to the west and down plunge. Underground definition and exploration drilling is expected to begin in fall 2008, initially focused on further defining and expanding the silver-lead mineralization outlined in the 99 and Southwest zones where surface drilling in 2007 outlined an inferred resource of 357,800 metric tons containing 1,394 grams per metric ton silver, 19.0 percent lead, and 5.5 percent zinc. A bulk sample will also be extracted from this zone to confirm metallurgical recoveries and mining conditions. Alexco says its objective is to obtain sufficient results from the advanced exploration and bulk sampling programs to make a commercial development decision on the Bellekeno Mine in early 2009.
