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July 03, 2014 --- Vol. 08, No. 27July 2014

British Columbia

COPPER/GOLD – Copper North Mining Corp. July 2 said it has signed an agreement to acquire a 100 percent interest in the Thor property from Electrum Resource Corp. Located roughly 20 kilometers (12.5 miles) south of the Kemess South mine-mill complex in north-central British Columbia, Thor hosts several large geophysical targets associated with intrusive complexes similar to those hosting the porphyry copper-gold deposits of the Kemess District. Copper North President and CEO Harlan Meade, Ph. D., commented, “Recent geophysical survey information suggests that the Thor property has the potential to host several porphyry copper-gold deposits. Much of the target area is covered with overburden and largely unexplored,” Meade said. “The best place to look for mines is adjacent to a mine; better still, is to make a discovery near a shutdown mine where the infrastructure is in place, such as the Kemess mine mill complex. The Thor acquisition is a nice complement to the company's re-engineering of the Carmacks copper-gold-silver project in the Yukon.” Under the terms of the agreement, Copper North will acquire a 100 percent interest in the Thor property upon making the initial cash payment of C$25,000 and issuing 1 million common shares of the company to Electrum. Copper North will maintain its interest in the property by paying an additional C$500,000, issuing 4 million additional shares and spending C$5 million on exploration at Thor over six years. If the Company fails to make a scheduled payment of cash or common shares, title to the property will revert to Electrum. In addition, Electrum will receive a 2 percent net smelter return which is capped at C$5 million. Copper North agrees to pay an advanced royalty payment of C$1 million if commercial production is not attained in respect of the Thor property before the seventh, eighth, ninth, 10th and 11th anniversaries of the acquisition agreement. The Thor property straddles the Moose River fault, a large regional structure, with small intrusions and associated alteration zones containing copper and gold mineralization in the East block. The area to the west of the Moose River fault is covered with extensive overburden cover. Copper North said aeromagnetic data suggests that the West block is underlain by a large intrusive complex characterized by increased magnetic susceptibility. Wide-spaced lines of induced polarization cover part of the West block and defined chargeability anomalies within the interpreted intrusive rocks. The chargeability response and coincident reduced magnetic susceptibility are characteristic of the alteration and mineralization of porphyry deposits. Additional induced polarization surveying is planned for summer 2014 to complete coverage in the West and East blocks and better define drill targets.

GOLD – Pretium Resources Inc. July 2 it has submitted the environmental assessment certificate application to the British Columbia Environmental Assessment Office for its Brucejack gold project. The 30-day screening period to ensure that the application is complete is underway. Once the application has been accepted, the BCEAO has 180 days to complete a review with the involvement of a working group including representatives of First Nations and local governments and other government agencies. The BCEAO then prepares an assessment report for a decision by the Minister of Environment and the Minister of Energy and Mines. In coordination with the British Columbia provincial permitting process, the Canadian Environmental Assessment Agency will review the Environmental Impact Statement which we expect to submit this month. The Brucejack Project has been proposed as a 2,700 metric-tons-per-day underground gold mine. Additionally, Pretium has filed on SEDAR the National Instrument 43-101 “Feasibility Study and Technical Report Update” 2014 highlighting the positive results of the updated feasibility study for the Brucejack Project. The technical report, dated June 19, will also be available at www.pretivm.com.

COPPER/GOLD – Colorado Resources Ltd. June 30 provided results of the 2014 Phase 1 drill program at its Eldorado property, which it has under option with Sunrise Resources Ltd. Highlights of the results of the four-hole program include 0.19 grams per metric ton gold and 0.06 percent copper over 196.5 meters in hole EL14-008. This hole is located 300 meters west of EL13-004, a 2013 hole that cut 71.3 m averaging 0.34 g/t gold and 0.13 percent copper. Colorado said the intent of the 2014 drilling program was to utilize a broadly spaced drill pattern to extend the porphyry system first discovered with DDH EL13-004 along strike. To date mineralization has been identified over a 1000 meters. The company said geophysical surveys and current drilling demonstrate that this mineralization occurs within a larger intrusive hosted porphyry system measuring at least 1000 meters wide by 2000 meters long. Significant potential therefore remains to expand the mineralized system. Colorado Resources President and CEO Adam Travis said, "We continue to efficiently and systematically explore and advance Eldorado on the eastern doorstep of Red Chris and have continued to identify the presence of significantly mineralized intrusives with highly anomalous gold and copper values along trend of Red Chris in a similar geological setting. The company will consider future drilling upon review of these results in the context of its other significant projects.

DIRECTOR – Homestake Resource Corp. June 30 reported the appointment of Jeff Tindale as a director and provided an update on activities at the Homestake Ridge gold property. Tindale – who has been managing partner of a private consulting group providing advisory services to numerous private and public companies since 2006 – has extensive experience in raising capital in North America and Europe, corporate development, project acquisitions, and strategic planning. He has a diversified background including founding successful private enterprises and over eight years in the exploration field, exploring for diamonds and precious metals where he was a part of major economic discoveries. Tindale has filled a vacancy on the board of directors created by the resignation of Nazlin Rahemtulla. At Homestake Ridge, camp mobilization continues toward the start of the 2014 exploration program at northwestern B. C. property. The program is expected to include at least 7,500 meters of core drilling and is budgeted at a cost of C$3 million. Camp construction is nearly complete and drilling is expected to begin in early July. Agnico Eagle Mines Ltd. can earn up to 65 percent interest in the project with staged expenditures of C$25.3 million at the Homestake Ridge Property. Agnico Eagle is in the third year of the six-year option having spent about C$4.3 million to date. Drilling will start on a newly discovered mineralized zone called the Slide target, first identified in 2013 and located southeast of the Homestake Silver deposit. Agnico Eagle plans an initial six drill holes on the Slide target which will test areas along strike and down dip of hole HR13-253, which contains an 18.6-meter interval averaging 101g/t silver. Further drilling is also anticipated on several other targets throughout the property including up to two holes to test “Eskay-equivalent” stratigraphy in the upper Hazelton Group exposed to the east and south of the Homestake Silver deposit. At the Kinskuch property this season, the company is planning to drill three or four holes at the Illiance River target in order to extend high-grade silver and base metal mineralization encountered on surface and in drilling by the Company during the 2011 field season. Field work also is planned to develop sites for drill tests of several other targets. The 100 percent optioned Kinskuch property lies south of, and partially contiguous with, the Homestake Ridge property.

COPPER/GOLD – Serengeti Resources Inc. June 27 reported the start of a modest summer exploration program designed to advance several of the company’s best exploration targets towards the drill stage. Work is planned at Rottacker, adjacent to Serengeti’s resource-stage Kwanika property; at the RCN in the Red Chris-North Rok area; and on the UDS property located adjacent to the Kemess North / East underground copper-gold project. At the Rottacker property, located 25 kilometers (16 miles) southeast of Kwanika, prospecting in 2013 located copper-gold-silver mineralization in boulders and outcrop in a geological setting similar to that present at Kwanika Central Zone. The target area has not previously been tested by IP geophysics or drilling and potentially lies within the Kwanika project economic area of influence, making it a high priority for follow up. Work planned in the current program is geological mapping, soil geochemistry and establishment of grid access for future IP geophysics. At the RCN property, located 8 kilometers north of North Rok copper-gold deposit in Red Chris area of northwestern BC, prospecting in 2013 field season located an outcrop of quartz-sericite-pyrite alteration with a grab sample returning 0.59 percent copper, 1.54 grams-per-metric-ton gold. Planned work in the current program at RCN includes reconnaissance IP geophysics, soil geochemistry and additional prospecting to identify a future drill target. The UDS claim block, comprises 2,163 hectares (5,345 acres) of highly prospective ground located immediately east of AuRico Gold’s proposed Kemess North underground copper-gold project. A thorough compilation of this structurally complex area has been completed and has identified at least five target areas for follow-up. Geological mapping this summer is aimed at targeting prospective areas for follow-up deep penetrating IP geophysics and eventual drilling to test for buried porphyry systems. “We are pleased to be able to conduct this exploration program on some of our best targets” stated Serengeti’s President & CEO David Moore. “These properties are each located in a highly prospective area with excellent potential for the discovery of copper-gold deposits and this work is a necessary step in advancing them along the road to discovery.”

COPPER/GOLD/SILVER – Romios Gold Resources Inc. June 26 reported plans to conduct a mapping and sampling program and to carry out an evaluation of various showings and mineralized occurrences at its Newmont Lake property. The focus of the 2014 program will be to follow up on the work completed to-date and new information obtained from a 2013 airborne ZTEM and magnetic survey carried out by Geotech Ltd. At the Burgundy Ridge discovery in the Newmont Lake area, the 2013 assays averaged 0.47 percent copper, 0.27 grams per metric ton gold and 3.77 g/t silver for 100 rock chip and rock samples over an area of 300 by 225 meters. In order to gain a better understanding as to the nature and distribution of the precious and base metal mineralization, channel sample lines will be taken across the anomalous zone. The on-strike mineralized occurrences of the Telena and ‘72 zones will also be examined as part of the Burgundy Ridge evaluation and the possible extension of these zones to the north and south will be tested. Work on the Northwest Zone – which currently has an inferred resource of 1.4 million metric tons at a grade of 4.43 g/t gold, 0.22 percent copper and 6.4 g/t silver – will include the re-examination of the more significant diamond drill core intercepts to gain a greater understanding of the nature and the structural control of the gold-silver mineralization encountered in earlier drilling on the property. The possible extension to these zones will be examined and structural interpretations will be made in order to identify further drill targets. Several of the genetic and structurally related satellite gold-silver-copper occurrences will also be re-examined in the field. Geotech reported that the airborne ZTEM and magnetic surveys readily identified the known copper-gold-silver occurrences on which Romios has been conducting exploration programs during the last several years. In addition, the Geotech geophysical surveys defined at least seventeen discrete magnetic anomalies of which nine appear to be unexplained geologically and also defined at least 14 favorable resistivity signatures that appear to relate to bedrock geology on the property. More than eleven of the prominent resistivity highs that were identified in the ZTEM survey partially coincide with the 17 airborne magnetic anomalies that were outlined in the airborne magnetic survey. Romios said these areas will be prospected and sampled as they may present potential targets for porphyry-type mineralization.

GOLD – Canarc Resource Corp. June 27 said it has now received the government permit for and plans to complete an eight-hole, 1,500-meter core drilling program at its Windfall Hills gold property in central B.C. The Windfall Hills property is located about 90 kilometers (56 miles) northwest of Newgold’s 10.2-million-ounce Blackwater gold deposit, within the same geological belt. Gold mineralization at Windfall Hills is associated with quartz stock-works and alteration zones of silica, pyrite, K-feldspar, sericite and clay hosted by Tertiary volcanic rocks. Based on previous exploration, Canarc has outlined two gold-silver geochemical soil anomalies coincident with an IP-resistivity anomaly on the property. These anomalies define the initial drill targets for a “Blackwater” type bulk tonnage, epithermal gold-silver deposit. Canarc also reports that it has arranged a C$400,000 non-brokered flow-through equity financing in which certain insiders and shareholders intend to participate. The financing consists of 5 million units priced at C8 cents each. Each unit will consist of one flow-through common share and one half of one share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through share at C15 cents for a two-year period. The warrants and the warrant shares will have no flow-through tax benefits. The private placement is subject to Toronto Stock Exchange approval. The flow-through shares, warrants and warrant shares will be subject to a four-month-plus one-day hold period from the closing of the financing. The proceeds of the flow-through financing will be used for drilling at the Windfall Hills project.


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