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 : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (5596)	8/22/2007 10:09:31 AM
From: LoneClone	Read Replies (1) \| Respond to of 194000

GlobeStar's Dominican Republic Nickel Exploration 23 Holes Reported, Including 39 Metres Grading 1.73% Nickel and 24 Metres Grading 2.05% Nickel at Cumpie Hill Loma Mala In-Fill Drilling Underway 08:00 EDT Wednesday, August 22, 2007 globeinvestor.com TORONTO, ONTARIO--(Marketwire - Aug. 22, 2007) - GlobeStar Mining Corp. (TSX:GMI) ("GlobeStar" or the "Company") is pleased to announce the results of a further 23 diamond drill holes as part of its 64-hole in-fill drill program previously announced for its Cumpie Hill deposit in the Dominican Republic. Results from the first 11 holes of this program were released on June 12, 2007. The remaining 30 holes have been completed and assays are pending. The results of the 23 holes are detailed in Table 1 below. The results include one hole, CM-LATD-96 which returned 39 metres (128 ft) grading 1.73% nickel. Other notable intersections are 24 metres grading 2.02% nickel (Hole CM-LATD-93) and 27.3 metres grading 1.92% nickel (Hole CM-LATD-95). See location map on globestarmining.com. "These are the best drill holes yet reported from GlobeStar's nickel laterite program," commented Bill Fisher, GlobeStar's CEO. "In-fill drilling is now complete at Cumpie; 8 holes have already been drilled at Loma Mala; and additional targets have been selected along GlobeStar's 43 kilometre long land position in the Dominican Republic." The Company has now completed grid diamond drilling on 71 metre centres at Cumpie Hill and is seeking to upgrade this discovery to a resource. F. Roger Billington P. Geo. Consultant Geologist, in conjunction with Snowden & Associates of Vancouver, Canada, the Company's engineering consultants ("Snowden"), have been retained to independently prepare a formal, National Instrument ("NI") 43-101 compliant, mineral resource estimate for Cumpie Hill which is expected to be completed later this year. Further in-fill drilling may be done as directed by Mr. Billington and Snowden if the results show potential for extensions of the Cumpie Hill mineralization. The holes reported today with "no significant mineralization" were drilled in areas of steep topography and serve to delineate the edge of the mineralization. SGS Lakefield, of Ontario, Canada, has been separately retained to conduct a metallurgical test program to define different options for processing of the nickel laterites. The preliminary results of this research are planned to be released concurrently with the Cumpie Hill NI 43-101 technical report when completed. The next area for investigation is Loma Mala (adjacent to Cumpie Hill) where earlier drilling included 13 metres grading 2.01% nickel (see release of February 9th 2007). Eight holes have been completed of the planned 22 hole program and assays are pending for all eight holes. Characterization of the nickel mineralization at Loma Mala will be published by the Company in a separate NI 43-101 compliant technical report. GlobeStar's strategy is to identify areas of nickel laterite potential and then drill each area at a density suitable for formal resource calculations. The Company plans to publish separate resources as each program is completed. Nickel laterites grading over 1.7% nickel have been discovered at Cumpie Hill and Loma Mala where the Company's exploration programs have been focused. Other promising areas include Corozal, Loma Prieta Ridge and Loma Prieta Valley and have returned prospecting pit samples grading over 1.7% nickel in near surface nickel laterites. These areas are slated to be drilled as part of the Company's ongoing exploration program. Nickel laterites have also been mapped at Los Mellizos. Earlier this year, GlobeStar completed a DIGHEM airborne Electro Magnetic (EM)/magnetic survey covering 95 square kilometres of nickel-bearing peridotite concessions. Data from this work is being used for the selection of new areas of nickel potential for GlobeStar's ongoing surface mapping program. ---------------------------------------------------------------------------- Globe Star Mining Nickel Laterite Exploration Infill Drilling Program - Cumpie Hill Table 1: Intercepts greater than = 1% Ni cut-off ---------------------------------------------------------------------------- Hole From (m) To (m) Width (m) Ni grade (%) Co grade (%) ---------------------------------------------------------------------------- CN-LATD-77 1.15 3.00 1.85 1.18 0.05 ---------------------------------------------------------------------------- CN-LATD-78 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-79 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-80 0.00 6.70 6.70 1.88 0.05 ---------------------------------------------------------------------------- CN-LATD-81 Assays Pending ---------------------------------------------------------------------------- CN-LATD-82 Assays Pending ---------------------------------------------------------------------------- CN-LATD-83 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-84 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-85 0.00 6.00 6.00 1.48 0.03 ---------------------------------------------------------------------------- CN-LATD-86 0.00 2.00 2.00 1.03 0.07 ---------------------------------------------------------------------------- CN-LATD-87 2.00 5.30 3.30 1.11 0.04 ---------------------------------------------------------------------------- CN-LATD-88 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-89 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-90 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-91 0.00 5.00 5.00 1.57 0.03 ---------------------------------------------------------------------------- CN-LATD-92 No significant Intersection ---------------------------------------------------------------------------- CN-LATD-93 1.00 25.00 24.00 2.02 0.02 ---------------------------------------------------------------------------- CN-LATD-94 1.00 3.40 2.40 1.15 0.02 ----------------------------------------------------------------- and 12.00 16.00 4.00 1.23 0.02 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Globe Star Mining Nickel Laterite Exploration Infill Drilling Program - Cumpie Hill Table 1: Intercepts greater than = 1% Ni cut-off ---------------------------------------------------------------------------- Hole From (m) To (m) Width (m) Ni grade (%) Co grade (%) ---------------------------------------------------------------------------- CN-LATD-95 2.70 30.00 27.30 1.92 0.02 ---------------------------------------------------------------------------- CN-LATD-96(1) 5.00 44.00 39.00 1.73 0.03 ---------------------------------------------------------------------------- CN-LATD-97 5.00 20.00 15.00 1.73 0.08 ----------------------------------------------------------------- and 23.50 27.55 4.05 1.36 0.02 ---------------------------------------------------------------------------- CN-LATD-98 0.00 6.00 6.00 1.28 0.04 ---------------------------------------------------------------------------- CN-LATD-99 0.00 7.00 7.00 1.44 0.03 ---------------------------------------------------------------------------- CN-LATD-100 0.35 19.00 18.65 1.59 0.04 ---------------------------------------------------------------------------- CN-LATD-101 7.00 24.90 17.90 1.64 0.05 ----------------------------------------------------------------- and 30.35 35.80 5.45 1.19 0.02 ---------------------------------------------------------------------------- (1) 3 m of internal dilution between 29 and 32 m "While we look forward to publishing our first NI 43-101 compliant nickel resource for Cumpie Hill and our other nickel-bearing deposits, we recognize that the full economic potential of the complete belt will only become clear as we systematically publish resources from our discoveries," concluded Mr. Fisher. The compositing of the nickel grades in the individual holes was done using a nickel cut-off of 1% with a minimum intercept length of 1.5 meters and a maximum length of internal waste of 2 meters. However, hole CM-LATD-96 was reported with 3 metres internal dilution. Compositing was done across geological boundaries. As the nickel laterite deposits are essentially flat-lying, all widths given are true widths. Sample preparation was undertaken at Xstrata's Falcondo laboratory (holes CM-LATD-77 to CM-LATD-83) and at SGS Lakefield laboratory (holes CM-LATD-84 to CM-LATD-101) and the pulps analysed at SGS Lakefield using tetraborate fusion XRF. Full QA/QC procedures were implemented, including the insertion of standards, duplicates and blanks. Check samples representing approximately 10% of all the samples will be sent to another international laboratory for analysis by XRF. This news release was prepared by GlobeStar and the data validated by the designated independent Qualified Person for GlobeStar's nickel laterite exploration, as defined in NI 43-101, F. Roger Billington, P.Geo. Consulting Geologist. About GlobeStar GlobeStar Mining Corp. is a well-funded mining and exploration company, developing the permitted Cerro de Maimon copper/gold project in the Dominican Republic. Initial production from the Cerro de Maimon 6 million tonne, high-grade open pit mine is currently expected in the summer of 2008. As previously disclosed in the Company's press release of August 16, 2007, the project has a current projected net present value (based upon 8% discount rate) of US$176 million and a projected after tax internal rate of return of 56%, based upon gross revenues of US$624 million. The current estimated payback of the estimated US$68.6 million capital cost is 15 months using US$2.45/lb copper, US$543/oz gold with estimated US$10/oz silver, and cash costs, net of by-products, of US$0.42/lb of copper. GlobeStar is exploring an extensive base and precious metals exploration portfolio in the Dominican Republic with over C$4.0 million committed to exploration during 2007 and early 2008. Reader Advisory The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. Assumptions that are subject to significant risks and uncertainties are the basis for these statements. Because of these risks and uncertainties and, as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although GlobeStar believes that the expectations reflected in forward looking statements are reasonable, we can give no assurances that the expectations of any forward-looking statements will prove to be correct. GlobeStar disclaims any intention, and assumes no obligation, to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise, except as required pursuant to applicable securities laws. FOR FURTHER INFORMATION PLEASE CONTACT: GlobeStar Mining Corporation William Fisher CEO (416) 868-6678 Email: wfisher@globestarmining.com or GlobeStar Mining Corporation JP Chauvin President and COO (416) 868-6678 Email: jp.chauvin@globestarmining.com or Bay Street Connect Gus Garisto (416) 607-6023 Email: gus@baystreetconnect.com or Coal Harbor Communications Dale Paruk (604) 662-4505 Email: dale@coal-harbor.com

To: LoneClone who wrote (5596)	8/22/2007 10:44:44 AM
From: LoneClone	Respond to of 194000

Drilling at Kinbauri's El Valle Project Continues to Extend Gold/Copper Mineralization, Wed Aug 22, 8:30 AM ca.news.finance.yahoo.com OTTAWA, ONTARIO--(Marketwire - Aug. 22, 2007) - Kinbauri Gold Corp. (TSX VENTURE: KNB.V) ("Kinbauri") is pleased to announce the second set of assay results from its on-going 7,000 m drill program at the El Valle project in northwestern Spain. Kinbauri is on track to meet its objective of defining sufficient resources to support six years of production, given reasonable conversion to reserves. Area 107 and Black Skarn North are being targeted for their continuity of gold and copper mineralization and proximity to the existing mining and milling infrastructure. Results from the second five holes are summarized in the table below. HOLE(1) From To Interval(2) Au Ag Cu Zone(3) (m) (m) (m) (g/t) (g/t) (%) Section ------------------------------------------------------------------------- 07KV1016 174.85 220.90 46.05 2.39 20.0 0.89 NBS & A107 including 196.55 204.65 8.10 5.68 56.5 2.24 1 including 208.60 213.70 5.10 6.38 17.4 1.24 ------------------------------------------------------------------------- 07KV1014 106.25 110.30 4.05 7.97 2.3 0.18 A107W Including 106.25 108.30 2.05 9.40 13.0 0.32 2 07KV1014 117.35 119.15 1.80 2.07 4.0 0.19 ------------------------------------------------------------------------- 07KV1012 147.50 149.00 1.50 0.46 29.0 0.76 A107 W / 2 ------------------------------------------------------------------------- 07KV1013 No Significant Results A107/12 ------------------------------------------------------------------------- 07KV1011 64.80 67.25 2.45 7.10 47.1 1.29 NBS Upper 07KV1011 242.40 243.80 1.40 1.49 8.0 0.54 NBS Lower 07KV1011 253.85 257.25 3.40 1.36 4.2 0.32 12 07KV1011 261.30 264.65 3.35 4.50 8.0 0.21 ------------------------------------------------------------------------- 07KV1009R 68.80 71.50 2.70 4.89 6.1 0.32 NBS & A107 07KV1009R 84.90 96.40 11.50 2.39 5.2 0.72 11 Including 84.90 91.50 6.60 2.96 6.7 0.92 07KV1009R 105.65 139.50 33.85 8.04 35.9 2.07 including 1 109.30 110.95 1.65 47.00 110.0 0.77 including 2 130.50 139.50 9.00 9.44 48.6 5.06 07KV1009R 178.20 183.50 5.30 2.69 11.2 1.08 including 178.20 180.40 2.20 5.52 20.3 1.91 ------------------------------------------------------------------------- (1) See Schedule A for relative location: (2) True thicknesses are estimated to be 80% and 95% of interval for 1007KV1016 through 1007KV1014 and approximately 50% of interval for 1007KV1009R and 1007KV1016: (3) A107 - Area 107; NBS - Black Skarn North. Schedule A: ccnmatthews.com Assays received to date from 07KV1009, 07KV1009R and 07KV1016 suggest that epithermal mineralization composing Area 107 has been superimposed on the Black Skarn, resulting in gold and copper enrichment of the skarn. Similarly, VAL 1038, which is on the same section as 07KV1014 (see Schedule A), includes a high grade interval of 17.4g Au/t and 2.46% Cu over 9.7m within skarn grading 8.09g Au/t and 1.67% Cu over 36.1m. Mineralized zones within 07KV1009R have separation of 25m from those in 07KV1009, confirming continuity of gold grades related to skarn and epithermal mineralization. Multiple enriched zones within the skarn may be due to splaying of Area 107 or to separate epithermally enriched structures. These results also indicate that Area 107 mineralization extends westward beyond the previous known extent of Area 107. West of 07KV1016, Area 107 is expected to be off-set by a structure hosting the Charnela Zone (Indicated Resources of 45,000 ounces Au (82,000t at 17.0g Au/t) and Inferred Resources of 46,000 ounces Au (105,000t at 13.8g Au/t)); three holes previously drilled by Rio Narcea Gold Mines, S.L. ("RNGM") west of this structure are projected to be an extension of Area 107: DDH Interval Assays Location ------------------------------------------------------------------------- - VAL 1033 14.3m 11.0g Au/t and 0.90% Cu 30m west Section1/Area 107 - VAL 1032 5.0m 10.0g Au/t and 0.05% Cu 90m west Section 1/Area 107 - VAL 2049 7.9m 13.4g Au/t and 3.40% Cu 160m west Section 1/Area 107 Development in the next quarter will provide an appropriate drilling platform for further definition of (i) mineralization in the sector containing the westward projection of Area 107 (open to the west and at depth) and (ii) the true extent of the Black Skarn. Kinbauri has become aware that significant molybdenum values are present within selected lithologic units at El Valle and Carles; this is in addition to the known Mo mineralization at its Godan property where 0.15% Mo over 5.4m, including 0.45% over 28m, was reported (reference NI 43-101 Technical Report of March 21st, 2007; www.sedar.com). A complete review of RNGM's data base is in progress and critical exposed lithologic units are being sampled to determine the extent and significance of the molybdenum mineralization. The underground drill program is on-going and should be completed in September, 2007. It is being supervised by Mr. Santiago Gonzalez, Kinbauri Espana's senior geologist with quality control being provided by Dr. C. F. Gleeson, P. Eng., Kinbauri's Vice-President of Exploration: both are qualified persons as defined by N.I. 43-101. Details of Kinbauri's Quality Assurance Program are reported in press release of July 19th, 2007. RNGM's Quality Assurance Program for its drill holes are reported in their press release of January 20th, 2006. This press release was prepared by Dr. V. N. Rampton, P. Eng in his capacity as a qualified person. Dr. Rampton will record a "Beyond The Press Release" on the Company's official Investor Relations Site at agoracom.com, where these developments will be discussed in detail. The recording is expected to be available on or after August 27th, 2007. About Kinbauri Kinbauri is a TSXV - Tier 1 mineral exploration company focused on the development of mineral properties, primarily precious metal prospects in northwestern Spain, Nevada and Canada. Its immediate focus is to expand and upgrade resources to reserves at the El Valle property in Asturias, Spain with a view to re-starting operations at the mine and mill complex there, and to establish resources to support a mine and mill at Corcoesto in Galicia, Spain where it has an option to earn a 65 percent interest. It currently has 43,372,320 common shares issued and outstanding; 67,056,236, fully diluted. About the Rio Narcea Gold Belt This belt, which has been subject to multiple phases of mineralization common to most major mining camps, has present measured and indicated resources of 477,000 ounces gold and 26,000 tonnes copper (2,594,000 tonnes at 5.7g Au/t and 2,343,000 tonnes at 1.13% Cu) and inferred resources of 845,000 ounces gold and 11,600 tonnes copper (3,159,000 tonnes at 8.3g Au/t and 1,607,000 tonnes at 0.84% Cu), as estimated by Ore Reserves Engineering of Lakewood, Colorado in a NI43-101 technical report dated March 21st, 2007 and filed on Sedar on July 3rd, 2007. Kinbauri presently holds permits totaling 3,000 hc and investigation permits totaling 592 ha, covering the four main gold deposits at El Valle, Carles, La Brueva and Godan/Ortosa. All of the above-estimated resources are attributed to the El Valle and Carles deposits. With the exception of a surface drilling program targeting a near-surface extension of open-pittable resources at Carles and a Mo-Au target at Godan, Kinbauri's present plans are to concentrate drilling at El Valle in order to define resources and reserves towards mine production re-start. To find out more about the Rio Narcea Gold Belt and El Valle, please visit Kinbauri's web-site at www.kinbauri-gold.com. THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Kinbauri undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Contacts Ms. Donna Yoshimatsu Kinbauri Gold Corp. Investor's Relations 647-293-7047 dyoshir@rogers.com Dr. Vern N. Rampton Kinbauri Gold Corp. President 613-836 2594 613-831 2730 (FAX) vrampton@kinbauri-gold.com or kinbauri@kinbauri-gold.com www.kinbauri-gold.com

To: LoneClone who wrote (5596)	8/22/2007 10:46:20 AM
From: LoneClone	Read Replies (1) \| Respond to of 194000

Merrex Expands Zinc Exploration Wed Aug 22, 9:30 AM ca.news.finance.yahoo.com HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 22, 2007) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE: MXI.V) announces that Merrex is expanding its search for zinc in Cape Breton, Nova Scotia, and an exploration program of prospecting, geological mapping, sampling, geochemical surveying and diamond drilling is presently underway over several new target areas indicating Jubilee type zinc-lead mineralization within the Carboniferous rocks of Cape Breton. "We believe that our Jubilee Project will be one of several zinc discoveries to be made in Cape Breton" commented Merrex President and CEO Greg Isenor, P. Geo. "Therefore, Merrex has accumulated substantial additional claim-holdings over selected areas prospective for zinc-lead mineralization and exploration is actively underway on our new claim groups in Cape Breton." That considerable potential exists for zinc-lead deposits within the Carboniferous rocks of Nova Scotia is well-evidenced by such deposits as Walton, Jubilee and Gays River. Data compilation and analysis together with prospecting have identified four areas with geology similar to Jubilee and Merrex has assembled a land package of over 200 claims covering those four regions. They are designated individually as Middle River, Baddeck Forks, River Denys and West Bay and collectively as the Cape Breton Regional Zinc Project. (see map) ccnmatthews.com Initial prospecting, geological mapping, sampling and geochemical surveying have been undertaken and prospective drill targets identified in several areas. Diamond drilling is underway at the Middle River property now and diamond drilling of additional selected targets on other areas will follow. The exploration of Merrex's new Cape Breton Regional Zinc Project is fully funded from 'flow through' cash-on-hand from previous financings and is in addition to the aggressive diamond drilling of Merrex's Jubilee zinc-lead deposit. Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, nickel in West Voisey's Bay, Labrador, and gold in Red Lake, Ontario, with a solid organization of people and projects to enable continued aggressive exploration, discovery, and growth. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE. Contacts Greg Isenor Merrex Gold Inc. President & CEO (902) 832-5555 John Cumming Merrex Gold Inc. Executive Vice-President (604) 618-4262 (604) 688-3348 (FAX) Email: info@merrexgold.com Website: www.merrexgold.com