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March 04, 2010 --- Vol. 04, No. 09March 2010

British Columbia

GOLD – Canasia Industries Corp. March 4 said it received the first set of grades back from processing of a bulk sample sent to the laboratory from its Clone Gold Prospect in the Stewart Gold District of British Columbia. Results from this portion tested averaged 152.34 grams per metric ton gold, or 3.87 ounces per ton gold. The Clone Gold Prospect recently returned grades, including 12.8 meters of 44.75 g/t gold values, including 4.87 meters of 76.8 g/t gold. Canasia said a more aggressive follow-up drill program is being planned for this year, which is expected to commence in the second quarter 2010. “We are pleased with the results attained from the initial numbers from the 10 (metric tons) sent for the bulk sample,” said Canasia President Negar Towfigh. “We look forward to this year’s drill program on the Clone, as the numbers achieved last year were the best Canasia has ever drilled. We are optimistic that the upcoming drill season will further delineate out the potential deposit indicated by last season’s drilling results and these bulk sample results.”

GOLD – BCGold Corp. March 3 reported receipt of high-grade gold assay results from recent underground channel sampling on four veins at the company’s historical high-grade Engineer Mine Property, situated 32 kilometers, or 20 miles, west of Atlin, B.C. Channel samples containing variable amounts of visible electrum, a gold-bearing silver mineral, collected from accessible underground vein exposures on Level 5 assayed up to 794.02 grams per metric ton gold and 642.33 g/t silver, across vein widths up to 0.5 meters (or 264.68 g/t gold and 214.11 g/t silver over a 1.5-meter minimum mining width). Channel sample results demonstrate that pockets of bonanza-grade gold mineralization remain in at least four veins on Level 5 at Engineer mine, the company said. Discrete vertical high-grade ore shoots is the principle mode of gold and silver mineralization at Engineer mine. “Engineer Mine is very unique in terms of gold grade and shoot geometry,” said BCGold President and CEO Brian P. Fowler. “You are either in exceptional, multi-ounce material or you are in low grade. The old timers drifted on structure and mined on grade. Gold grades exceeding 1,000 oz/ton were not uncommon in select historic underground stopes.” BCGold intends to drill test two veins between the fifth and eighth levels of the mine in 2010 from underground, testing the dip extensions of high-grade shoots defined by historic and recent sampling on the Engineer and Double Decker veins. It is on the eighth level, along the Double Decker Vein, that historic sampling records indicate a 24.7-meter section averaged 38.0 g/t gold, containing a 10.0 meter interval averaging 84.3 g/t gold, across the width of the drift (Brinker Report, 1927). BCGold Corp. intends to target a number of drill holes in the vicinity of this mineralization in 2010.

FINANCE – Avanti Mining Inc. March 2 said it has made the necessary cash payments and issued shares to unconditionally acquire 100 percent interest in 102 mineral tenures adjacent to its Kitsault molybdenum property in northern British Columbia from TA Mineral Resources Ltd. and Quadra Coastal Resources Ltd. In consideration of the purchase, which closed Jan. 29, Avanti paid the vendors C$100,000 and issued 1.5 million Avanti units. Each unit consists of one common share and one-half of a share purchase warrant exercisable at C30 cents per share until Jan. 28, 2012. Pursuant to the agreement Avanti agreed to make further payments to the vendors of C$200,000 and 2 million units six months after closing and C$100,000 and 2 million units 12 months after closing. In consideration of Avanti accelerating the timing for the payments due under the agreement, the vendors agreed to a 5 percent reduction in the cash payment. As a result, Avanti has paid the vendors C$285,000 and issued 4 million units, satisfying in full its obligation under the purchase agreement. “The reduction of the cash payment is greater than the interest rate our cash balance earns at present creating the incentive to accelerate the commitment,” said Avanti President and CEO Craig J. Nelsen. Avanti Mining is developing the past-producing Kitsault Molybdenum Mine, considered one of the top five primary molybdenum development assets worldwide. The deposit is located 140 kilometers, or 87 miles, northeast of Prince Rupert, in coastal British Columbia.


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