Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (3467)	2/26/2003 11:20:29 PM
From: Mac	Read Replies (1) \| Respond to of 5423

ETG. I think the only challenge here is time.

To: Elizabeth Andrews who wrote (3467)	2/27/2003 10:28:24 AM
From: 4figureau	Read Replies (3) \| Respond to of 5423

CZZ: Canadian Royalties Inc. - New Discovery - High Nickel Copper Cobalt Platinum Palladium Values from Tootoo Area Drill Hole 25 km West of Mesamax Thursday February 27, 10:08 am ET VAL D'OR, Québec, Feb. 27 /CNW Telbec/ - CANADIAN ROYALTIES INC. (TSX-VEN: CZZ) reports it has received high nickel-copper-cobalt-platinum- palladium (Ni-Cu-Co-Pt-Pd) assay values from a new massive sulphide discovery located 25 kilometres to the west of the Mesamax Discovery in Nunavik (Ungava), Northern Québec. The main mineralized interval in diamond drill hole TT-02-02 is comprised of disseminated to massive pyrrhotite, pentlandite and chalcopyrite mineralization in a pyroxenitic host. The higher grade portion of the mineralized interval assayed 2.00% Ni, 1.91% Cu, 0.11% Co, 0.6 g/t Pd and 2.62 g/t Pd (3.12 g/t combined Pt + Pd) over a core length of 22.03 meters (72.3 feet). The new mineralized zone, the "Tootoo Zone", is the third and westernmost new massive sulphide occurrence discovered by Canadian Royalties in the South Ungava Trend since work in the region by Canadian Royalties began in 2001. It is located in a basal depression or embayment of the host, a geological setting very similar to the setting at the Mesamax Ni-Cu-Co-Pt-Pd Zone. An updated property location map can be viewed at www.canadianroyalties.com/maps/expoznl.htm HIGHLIGHTS ---------- - TT-02-02 high grade interval - 10.51 meters (34.5 feet) grading 3.14% Ni, 2.56% Cu 0.17% Co, 0.80 g/t Pt, 2.6 g/t Pd; - Massive and disseminated sulphide mineralization - pyrrhotite-pentlandite-chalcopyrite; - Located approximately 25 kilometres west of the Mesamax Discovery, and 12 km west of the Expo-Ungava Deposit; - Same geological setting as the Mesamax and TK mineralized zones; - Metal ratios (Ni/Cu, Ni/Co, and Pd/Pt) indicate same mineralizing process at all mineralized locations; - Tootoo pyroxenite host extends for more than 5 kilometres; 2002 preliminary work completed on only the southwest portion of the target; - TT-02-02 located at the extreme southwest end of favourable pyroxenite/peridotite body; - Extent of mineralization in the Tootoo area unknown at this time; - The only previous drilling, in 1969, targeted mineralization at the pyroxenite contact but not at the base of the host or in an embayment type setting. The only hole drilled to the west of TT-02-02, the last hole in the 1969 program, was abandoned in mineralization containing abundant sulphide mineralization above the pyroxenite contact; - New, high grade intersection confirms the regional extent of the mineralization and confirms the potential of the entire property; - Initial drill testing of targets along 50 kilometers of favourable host rock units shows extensive mineralizing event. << DDH From To Width Ni Cu Co Au Pt Pd PGE (m) (m) (m) % % % g/t g/t g/t g/t TT-02-01 24.00 68.12 44.12 0.30% 0.40% 0.02% 0.05 0.22 0.91 1.19 TT-02-02 48.00 92.53 44.53 1.28% 1.27% 0.07% 0.05 0.52 2.13 2.70 incl. 70.50 92.53 22.03 2.00% 1.90% 0.11% 0.05 0.60 2.61 3.26 incl. 76.47 86.98 10.51 3.14% 2.56% 0.17% 0.05 0.80 2.60 3.45 TT-02-03 32.00 43.00 11.00 0.30% 0.46% 0.01% 0.12 0.30 1.09 1.50 >> Notes: - Lengths are drill intersected core lengths, composite lengths are length weighted; - PGE (equal sign) gold + platinum + palladium; - g/t (equal sign) grams per metric tonne; - Drill hole locations, azimuths and dips: TT-02-01 18+75E/19+15N Azimuth 140 degrees / Dip -45 degrees; TT-02-02 18+75E/19+15N Azimuth 140 degrees / Dip -60 degrees; TT-02-03 18+75E/19+15N Azimuth 140 degrees / Dip -78 degrees. The Tootoo Pyroxenite, host to the mineralization, is known from regional surveys, ground prospecting, mapping and geophysics to extend for at least 5 kilometres to the northeast in the area southeast of Mequillion Lake. Initial field work by Canadian Royalties covered only the south western part of the ultramafic body and drilling was completed only on one line. The geological setting, the type and percentages of individual sulphide minerals, the metal ratios and the high PGE content of the TT-02-02 mineralized zone are all very similar to those found at the Mesamax Discovery 25 km to the east. To date, diamond drill hole TT-02-02 is the only hole to penetrate the 'keel' or embayment in the pyroxenite host. In a regional context, it is encouraging that some previous work in 1969, and two other holes completed by Canadian Royalties in 2002 on the same section, encountered disseminated sulphide mineralization near surface at the contact of the pyroxenite, in the vicinity of the mineralization intersected in TT-02-02. Work by Canadian Royalties and others at more than a dozen separate pyroxenite bodies over a 50 kilometer east-west interval on the Companies' property position has shown the presence of similar, significant amounts of nickel-copper and PGE rich disseminated sulphide mineralization. At Mesamax, a similar situation existed where previous work indicated the presence of disseminated sulphides but no systematic platinum palladium assaying had been completed and no significant massive sulphide had previously been defined. It was persistence and the use of new techniques that resulted in Canadian Royalties' success in defining a significant Ni-Cu-Co-PGE mineralized body. At other locations such as at Mequillion North and Giraffe, significant disseminated sulphides and even some minor massive sulphide mineralization was intersected in initial diamond drilling in 2002, which may indicate proximity to other embayments or 'keels' where higher sulphide concentrations and even massive sulphide mineralization may occur. Previously, no major effort had been targeted at locating these mineralized embayments within the pyroxenite-peridotite bodies. The occurrence of widespread Ni-Cu-PGE bearing disseminated sulphide mineralization along an interval of more than 50 kilometers of the property, and Canadian Royalties' success at defining high grade Ni-Cu-PGE mineralization at several locations already, confirms the very high potential for the discovery of additional mineralization throughout the extensive and expanded property position. New geophysical techniques combined with better geological modeling will substantially aid the Company in continuing to rapidly outline the location of Ni-Cu-PGE mineralization and to establish the extent of mineralization within a number of the high priority Ni-Cu-PGE enriched pyroxenite-peridotite bodies. Canadian Royalties has interests in over 1675 map designated units (over 180,000 acres) comprising 29 properties in the South Ungava Trend, located approximately 15 kilometers south of Falconbridge's Raglan Mine in Nunavik (Ungava), Québec. Canadian Royalties has the right to earn up to 70% in the Expo-Ungava Property (approximately 50,800 acres) by incurring $1,750,000 in exploration expenditures, and an additional 10% will be transferred, for an aggregate 80% interest, by delivering to Ungava Minerals a bankable feasibility study. Bruce Durham, P.Geo. and Vice President, Exploration of Canadian Royalties Inc. is the designated Qualified Person responsible for the exploration program on the property and the person responsible for the preparation of this release. All assaying was completed by ALS Chemex with sample preparation completed in Val d'Or, QC and analyses completed at ALS Chemex in Vancouver, BC. Base metal and PGE values are initially determined by total acid digestion with ICP-AES analysis and 30g fire assay with ICP AES finish respectively. Overlimit values are verified using fire assay in the case of PGE's and total acid digestion with AA finish for base metals. biz.yahoo.com

To: Elizabeth Andrews who wrote (3467)	2/27/2003 11:10:30 AM
From: 4figureau	Read Replies (2) \| Respond to of 5423

ETG and IVN: >>It is challenged in many ways.<< Would appreciate your thoughts on this some time Liz. I have dug up some info and will share (warts and all) in the next week or so. SML: Drilling should start in April I hear. Also...one of Canada's most negative (realistic?) mining analyst likes Stealth's chances. I read that as a very good sign...for he has had my respect for being mostly right on numerous projects going back 10 years now. New interest from P.I. and Octagon of late as well. See you all next week. Keep the place warm for me will ya! :) 4f...out!

To: Elizabeth Andrews who wrote (3467)	3/14/2003 8:56:30 AM
From: 4figureau	Respond to of 5423

World Gold Editor Cites 'Top 10' Undeveloped Projects Thursday March 13, 12:28 pm ET >>Together, the 10 deposits' resources total 286 million ounces, "which is quite an inventory," Burton said.<< TORONTO -(Dow Jones)- Many gold projects that have been accumulating dust on mining company shelves are starting to look promising again amid higher prices. Paul Burton, London-based editor of the journal World Gold, presented his Top 10 list of undeveloped projects at a Canadian mining conference. With the flair of a beauty-pageant host, Burton introduced them one by one. His top pick: the Target North & Sun project, north of the Target mine in South Africa, owned by Avgold Ltd. , with resources of 72.3 million ounces. The project is likely to produce 500,000 ounces a year, Burton said. The others, from second to 10th: -Russia's Sukhoi Log deposit, owned by the Russian government. Burton said he settled on a figure of 46 million ounces of resources (as there are a variety of estimates), and said it's likely to produce 1.4 million ounces a year. -Telfer in Western Australia, owned by Newcrest Mining Ltd. . Burton said indications are that it'll produce 800,000 ounces a year. Construction has already started. -Barrick Gold Corp.'s Pascua Lama deposit in Chile, with an estimated resource of 23.9 million ounces and indicated production of 800,000 ounces a year. Its estimated capital cost is expensive at $1.2 billion, Burton noted. -Donlin Creek in Alaska, owned by Placer Dome Inc. and NovaGold Resources Inc. . It's likely to be producing at 1.1 million ounces a year or more, Burton said. -Cerro Casale in Chile, owned by Placer Dome and Bema Gold Corp. , a project that was shelved years ago. It has forecast production of 900,000 ounces a year but high capital costs of $1.5 billion, Burton said. -Boddington expansion project in Western Australia, owned by Newmont Mining Corp. , AngloGold Ltd. and Newcrest Mining. It's run by a committee of the three owners, "which probably explains why they haven't been able to reach a production decision for over a year now," Burton said. It has a resource of 20 million ounces and forecast production of more than 500,000 ounces a year, he said. -Turquoise Hill (or Oyu Tolgoi) in Mongolia, owned by Ivanhoe Mines Ltd. . "It's very low-grade, but has huge copper resources," Burton said, adding that the project's size is growing daily. -Burnstone property in South Africa, which was recently purchased by Great Basin Gold Ltd. of Vancouver. Indicated resources in one area of the property would indicate modest production of 144,000 ounces a year but Burton suggested that figure is likely to increase. And squeezing into 10th place on Burton's list is Placer Dome's Pueblo Viejo project in the Dominican Republic, with an estimated 16.8 million ounces of resources and expected production of 530,000 ounces a year. Burton noted that many of these deposits were found in the 1970s. Target North & Sun and Telfer were the most recent ones, found in 1998. With gold at $350 an ounce, they are virtually all likely to show enough of a return to warrant a green light from their owners, he said. "Perhaps the only one with some doubt is Cerro Casale," Burton said. Together, the 10 deposits' resources total 286 million ounces, "which is quite an inventory," Burton said. He spoke at the Prospectors & Developers Association of Canada convention, which ended Wednesday. biz.yahoo.com

To: Elizabeth Andrews who wrote (3467)	3/18/2003 1:45:02 PM
From: 4figureau	Respond to of 5423

SML: ...from the Northern Miner: Another company active in the Toodoggone region is Stealth Minerals (SML-V), which holds the 288-sq.-km Toodoggone project, just north of the Kemess North deposit. Stealth stands to earn up to 100% of the property, subject to a 3% NSR, of which 1% can be purchased for $2 million. To earn a 60% interest, it must spend $5 million on exploration and pay $715,000 in cash to privately owned Electrum Resource by the end of November 2004. At the end of 2002, all payments had been made, and $2.3 million remained to be spent on exploration. Once vested, Stealth can issue 15% of its issued shares to Electrum to acquire the remaining 40% interest, or enter into a 60-40 joint venture with Electrum on a pro rata basis. Under-explored Stealth Minerals says the Toodoggone region, though rich in mineral showings, remains relatively under-explored. For example, the Toodoggone project hosts 30 separate mineralized prospects. Three deposit types are being targeted; skarn, epithermal and porphyry. Subject to financing, Stealth hopes to spend a total of $3.2 million on the Toodoggone property in 2003. The most advanced porphyry gold-copper deposit on the property is the Pine deposit. It is 25 km northeast of the Kemess South mine and has been subjected to 47 drill holes (7,889 metres). These holes were drilled between 1979 and 1999 by Rio Tinto (12 holes), Romulus Resources (13 holes), and Stealth (22 holes). The mineralized zone hosts about 160 million tonnes averaging 0.5 gram gold and 0.2% copper per tonne. In 2003, Stealth plans to drill six holes to test an induced-polarization (IP) anomaly east of the previous drilling. In the previous season, Stealth explored four targets; - Wrich Hill, a structurally controlled epithermal gold-silver prospect; - Goat Mountain, which hosts several high-grade gold-silver polymetallic veins; - the VIP copper-gold-silver skarn prospect; and - the Mex gold-copper porphyry prospect. The Wrich Hill prospect lies in the southern portion of the Toodoggone property, 14 km north of the Kemess South mine. Stealth geologists believe the Wrich Hill prospect is underlain by Toodoggone Formation crystal tuff just west of the regional Wrich fault. Kaolinite, pyrophyllite and iron-oxide surface alteration outline the prospect, which measures 200 by 850 metres. Trenching Trenching on a portion of the prospect revealed two steeply dipping sub-parallel mineralized zones close to the fault. Both zones remain open along strike to the northwest and southeast. The combined grade from four trenches in the West zone averages 1.36 grams gold and 9.87 grams silver per tonne over a true thickness of 28.5 metres. The combined grade from four trenches dug in the East zone, sub-parallel to the West zone, is 0.7 gram gold and 14.1 grams silver over an average true thickness of 18 metres. Both zones appear to be continuous in all of the trenches. Last year, a geophysical survey over the prospect defined a 200-metre-wide coincident chargeability and resistivity anomaly. Stealth plans to carry out a $900,000 exploration program, which would include drilling, prospecting and more geophysics. The Goat Mountain prospect is 1 km west of Wrich Hill and hosts several outcropping sub-parallel epithermal-style quartz carbonate polymetallic veins and breccias. The southernmost vein, dubbed Black, has been traced on the surface for 300 metres and has produced the highest assays to date. A 40-cm chip sample returned 272.4 grams silver and 279.9 grams gold. Stealth intends to spend $100,000 mapping and prospecting the prospect in the belief that the Goat vein mineralization and the Wrich Hill epithermal gold-silver prospects are spatially associated to a common, centrally situated mineralized porphyry that lies near the Takla sediment-Toodoggone volcanic contact and the Wrich fault. The Wrich fault continues at least 7 km to the northwest, to the company's Electrum epithermal gold-silver prospect, where diamond drill results include 4.7 metres averaging 2.95 grams gold, 263.42 grams silver and 2.4 metres grading 4.9 grams gold and 459.62 grams silver per tonne. This fault zone is a prime target for epithermal gold-silver occurrences, as well as porphyry targets. The VIP prospect is 10 km southwest of the Pine deposit and 20 km Northwest of the Kemess South mine. Mineralization occurs in skarns within marbles that were altered by the Blake Lake granodiorite intrusion. A previous operator, in 1983, drilled seven holes. The best hole cut 3.43 grams gold, 5.77 grams silver and 1.36% copper over 3.05 metres. Last year, Stealth performed IP and ground magnetic geophysical surveys, as well as geological mapping and prospecting over a 4.9-sq.-km grid. Data indicate that a continuous anomaly may exist between the East Skarn and the West skarn area, a distance of 1.9 km. Mechanical trenching in the West Skarn area identified two zones of mineralization. The first assayed 0.1% copper, 2.6 grams silver and 0.83 gram gold over 6 metres, while the second returned 0.33% copper, 13.4 grams silver and 3.2 grams gold over 18 metres. Trenching in the East Skarn area of the prospect, 1.2 km east of the West Skarn trench, assayed 1.4% copper, 32.6 grams silver and 5.8 grams gold over 6 metres. In addition, the company discovered a new prospect it has dubbed the North Skarn, 700 metres northwest of the East Skarn zone. A trench in this area assayed 1.16% copper, 52 grams silver and 3.6 grams gold over 6 metres. Stealth reports that the North, West and East skarn zones exhibit favourable geology and that each represents drill targets. The company also believes that these zones may be part of a much larger, underlying intrusive system. New showing Prospecting 2.5 km west of the West Skarn, on open ground, identified a new showing where a grab sample returned 2.3% copper, 94.4 grams silver and 2.7 grams gold per tonne. As a result, crews staked a 10-km area around the showing. Alteration in this new area is described as more porphyritic. In addition the company's chargeability anomaly increases in the direction of this new discovery. Stealth intends to extend its grid to cover this new target in order to map and run geophysical surveys over the prospect. The Mex gold-copper porphyry prospect is 22 km northeast of the Kemess South mine. Mineralization occurs near the contact between an intrusion and the Toodoggone volcanics and is characterized by a zone of intense hydrothermal alteration that measures 1 km wide and 300 metres down-slope. Cominco identified the prospect in the late 1980s with rock and soil samples that assayed up to 3.6 grams gold and 0.6% copper. The major did not follow up on the results. Last year, Stealth conducted geophysical surveys over the prospect, as well as mapping and sampling. Results warrant drilling, and the company plans to spend $400,000 on an 8-hole program.