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Prosper/high 7 years ago

Great!

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Prosper/high 7 years ago

Looking Great

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Prosper/high 7 years ago

PGM BULLISH SUCCESS

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g0ldfinger 7 years ago

Mr. Darin Labrenz reports

PURE GOLD DRILLING COMMENCES EXTENSIVE 2017 EXPLORATION PROGRAM

Pure Gold Mining Inc. has launched its 2017 exploration program at the company's 100-per-cent-owned Madsen gold project. The phased exploration program is designed to focus on resource growth and concurrently advance Madsen towards operational readiness. Drilling has re-commenced on the project with four diamond drill rigs prioritized for the McVeigh, Austin and A3 targets of the Madsen Mine. In addition, Pure Gold has now received the necessary approvals to re-open the McVeigh Portal ("Portal") and ramp and mining contractors have been mobilized to site to commence site preparations.

2017 Exploration Program Commences

Phased Approach to Resource Growth:

a four-rig program with up to 70,000 metres of diamond drilling, collared from both surface and underground;

surface drilling to expand resource through wider step-outs at the McVeigh, Austin and A3 targets (commenced January 2017); and

underground drilling to drill off near surface mineralization and better define anticipated mining shapes (scheduled commencement late Q1).

a H2-2017 resource update to incorporate >150,000 metres of new diamond drilling since last resource.

McVeigh Underground Exploration Project:

re-establish services to the existing Portal and ramp including power, heating and ventilation;

assess and secure ground conditions and complete detailed geologic mapping and sampling; and,

establish underground drill bays to optimize delineation of near-surface mineralization in the McVeigh and Austin horizons.

"Exploration drilling has been highly successful in expanding gold mineralization in multiple targets, all in close proximity to the existing infrastructure and open for expansion," stated Darin Labrenz, President and CEO of Pure Gold. "With the completion of the 2016 program, we look forward to the next phase of Madsen's evolution as we re-open the Portal and commence exploring from underground, utilizing the existing ramp which provides access to the top 150 vertical metres. Our team is focused on expanding the current resource and providing a framework for expanding the current base case production scenario at Madsen."

Receipt of Approval to Re-Open the Existing Portal and Ramp

Approval to re-open the Portal to allow for underground exploration was received from Ontario's Ministry of Northern Development and Mines in late December 2016. The Company now has all necessary approvals and work has begun to re-establish required services to the Portal and ramp.

The Portal, established in the 1990s, is located approximately one kilometer from the mill and provides ramp access to the top 150 vertical metres of mine workings. Currently, the ramp declines in the footwall of the McVeigh horizon, extending for 1,080 linear metres from surface to just above three level. Opening the Portal will provide immediate access to the footwall of the McVeigh and Austin horizons allowing for cost effective underground drilling which is expected to provide sufficient drill density to better define possible mining shapes, as well as allow exploration drilling to continue to expand the resource. It will also allow for a field inspection of the underground headings, including rock mass characterization, as well as detailed underground geological mapping and sampling to refine the structural setting. Work either completed or in progress includes:

Awarding of the mining contract for support of the advanced exploration project to Dumas Contracting Ltd;
Clearing of powerline from Pure Gold's milling facility to re-connect the Portal and ramp to grid power;
Purchase of power components as well as ramp ventilation and heating systems;
Establishment of surface support infrastructure at the Portal.
Currently it is anticipated that the Portal will be re-opened in February with underground diamond drilling scheduled to begin by the end of the first quarter.

Completion of the 2016 Exploration Program

With receipt of final assays, Pure Gold has completed its 2016 exploration work program, successfully intersecting gold mineralization in multiple, related targets with the drilling of approximately 78,800 metres from a total of 237 drill holes. Previously unreported results from the 2016 program include:

14.3 g/t gold over 1.0 metres in hole PG16-282 (A3);
8.0 g/t gold over 1.8 metres in hole PG16-290 (McVeigh).
The 2016 exploration program led to a breakthrough in geologic understanding, genetically and spatially linking mineralization in multiple settings and demonstrating that intersected gold mineralization remains open for expansion. At Madsen, drilling traced near surface gold mineralization across a 1.2 kilometre strike length, with mineralization remaining open for expansion. Concurrent drilling of the Austin horizon has led to a better understanding of the controls of high grade mineralization resulting in the development of the A3 target, an Austin-parallel gold bearing structure.

Mineralization at Madsen is hosted preferentially in the McVeigh and Austin horizon, and these preferred host rocks have been traced over two kilometres southward to the past-producing Starratt Olsen mine where initial drilling has returned high grade gold mineralization in a setting that is directly related to mineralization encountered at Madsen. Together with drilling at the McVeigh, Austin, and A3 targets of Madsen, these holes define a five kilometre mineralized horizon that is now well-understood and prospective for additional discovery and resource expansion.

Additionally, Pure Gold drilling at Russet South, located 1.5 kilometres west of Madsen, has expanded the known mineralization of this target and established a clear geologic relationship between this mineralization and mineralization hosted in the Madsen Mine.

For overview and detailed long sections highlighting the McVeigh horizon results, click link below:

http://puregoldmining.ca/sites/default/files/McVeighLong_January-11.pdf

For a complete list of 2016 drill results, click link below:

http://puregoldmining.ca/sites/default/files/2016-DH-Intercepts-Table-January-11.pdf

ABOUT MADSEN

The Madsen Mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen Gold Project hosts a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t gold (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t gold (in 0.79 million tonnes)(1). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of the geology and continuity of mineralization.

In addition to the current mineral resource, the Madsen Gold Project hosts a number of prospective new discoveries including the Fork Zone and Russet South targets, as well as, two significant historic underground mines. Pure Gold believes the opportunity exists to advance these targets through the application of modern exploration science and a new understanding of the district.

See the National Instrument 43-101 technical report entitled "Technical Report on the Preliminary Economic Assessment For the Madsen Gold Project," prepared by Nordmin Engineering Ltd., dated effective April 20, 2016. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

QA/QC and Core Sampling Protocols

Drill core samples are submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, a rotary split of 1kg, and pulverization of the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30g fire assay and AAS finish (code Au-AA23). Samples returning >5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are also analyzed by a 1kg screen fire assay with screening to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (certified standards and uncertified blanks), along with field, prep and pulp duplicates, are inserted on a regular basis.

Qualified Persons and 43-101 Disclosure

Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

ABOUT PURE GOLD

Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the next major discovery at the Madsen Gold Project in Red Lake, Ontario. And become Canada's next iconic gold company.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

Pure Gold Mining drills 3.7 m of 126.6 g/t Au at Madsen

2016-09-27 06:49 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD INTERSECTS 126.6 G/T GOLD OVER 3.7 METRES AT THE MADSEN GOLD PROJECT

Pure Gold Mining Inc. has released additional drill results from the continuing 51,000-metre drill program at the company's 100-per-cent-owned Madsen gold project. Results reported herein are from the four-drill-rig exploration program, designed to expand the high-grade gold resource in close proximity to the existing permitted infrastructure.

Highlights from new drilling include:

9.5 grams per tonne gold over 4.9 metres in hole PG16-185 (McVeigh);
Including 17.5 g/t gold over 2.3 metres;
8.3 g/t gold over 5.4 metres in hole PG16-191 (McVeigh);
Including 11.6 g/t gold over 3.5 metres;
126.6 g/t gold over 3.7 metres in hole PG16-195 (Austin);
Including 382.0 g/t gold over one metre.
"Our drilling to date has been successful in establishing that the McVeigh horizon is analogous to the Austin horizon, with similar style of alteration, and comparable widths and grades of gold mineralization," said Darin Labrenz, president and chief executive officer of Pure Gold. "Furthermore, drilling has demonstrated that the McVeigh is mineralized well below the shallow historic workings and has lateral continuity with deep roots. With this established, we are now stepping out more aggressively within the McVeigh, with the goal of testing the extents of the mineralization. These results, which include gold intercepts that are south of and deeper than any previous drilling by the company to date, clearly demonstrate that the McVeigh is wide open for expansion and represents an exciting modern exploration discovery in the Red Lake district."

Drilling confirms south plunge in the McVeigh horizon

Drill hole PG16-191 represents the southernmost and deepest intercept by the company to date, returning significant results from a 100-metre step-out from previously reported hole PG16-136 (see McVeigh West long section). Furthermore this hole lies 70 metres below mineralization reported in hole PG16-185 and 180 metres below mineralization reported in hole PG16-178. Together these three drill holes span a 200-metre vertical section that is farther to the south than previous drilling within the McVeigh horizon and confirm that mineralization is open downplunge to the south below the shallow historical workings.

High-grade gold within the Austin horizon

While drilling is primarily focused on the McVeigh horizon, continued geological modelling by Pure Gold suggests that the Austin horizon also holds significant potential for new mineralized zones. Through continuing drilling, the company has developed a better understanding of the controls on mineralization and believes that there is potential for additional mineralization in the Austin from both extensions of known zones, and from newly modelled, untested parallel targets. Drill hole PG16-195 intersected a strongly mineralized and altered zone with both coarse and fine visible gold scattered throughout the intercept, returning 126.6 g/t gold over 3.7 metres. This high-grade intercept occurs outside of proposed mining shapes defined in the preliminary economic assessment and confirms the significant resource potential of the Austin horizon.

Drill results summary

New assay results from select drill holes are outlined in the table.

MADSEN DRILL RESULTS

Hole ID From To Length Gold
(m) (m) (m) (g/t)

PG16-174 146.8 148.8 2.0 6.3
PG16-178 169.0 175.0 6.0 4.9
211.0 213.0 2.0 7.4
PG16-185 349.1 354.0 4.9 9.5
incl. 349.1 351.4 2.3 17.5
PG16-188 189.0 191.0 2.0 17.9
PG16-191 381.6 387.0 5.4 8.3
incl. 381.6 385.1 3.5 11.6
PG16-195 262.8 265.7 2.8 11.9
280.5 284.2 3.7 126.6
incl. 280.5 281.5 1.0 382.0
and incl. 283.0 284.2 1.2 58.8

(i) Assay composites were calculated using uncut assays and
are reported as drilled widths and interpreted to vary
between 50 per cent and 97 per cent of true widths.
The results of Pure Gold's continuing $9.1-million drill program continue to reinforce that McVeigh is a folded footwall continuation of the Austin horizon, is open in all directions and remains largely untested. While the Austin horizon, which is situated 150 metres in the hangingwall of the McVeigh horizon, produced over two million ounces from surface to a depth of 1.2 kilometres, McVeigh was only mined to a maximum depth of 230 metres. Pure Gold's work to date has identified significant endowment potential in the McVeigh horizon, with gold-bearing intersections present from surface to over one-kilometre vertical depth.

For an overview long section showing the McVeigh horizon, a detailed long section showing the recent McVeigh Central drill results, a detailed long section showing the recent McVeigh West drill results and a complete list of 2016 drill results to date, visit the company's website.

Pure Gold's 2016 exploration program is continuing with three drill rigs currently testing the McVeigh horizon and a fourth drill rig testing satellite targets, including Russet South. The program is expected to include 51,000 metres of core drilling, of which 41,610 metres have been completed and released to date. Further results will be released as available.

About Madsen

The Madsen mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen gold project hosts a permitted mill and tailings facility, and access to power, water and labour. The Madsen gold project has an indicated resource of 928,000 ounces gold at 8.93 g/t gold (in 3.24 million tonnes) and an inferred resource of 297,000 ounces gold at 11.74 g/t gold (in 790,000 tonnes)(1). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of the geology and continuity of mineralization.

In addition to the mineral resource, the Madsen gold project hosts a number of prospective new discoveries including the Fork zone and Russet South targets, as well as, two significant historic underground mines. Pure Gold believes the opportunity exists to advance these targets through the application of modern exploration science and a new understanding of the district.

(1) See the National Instrument 43-101 technical report entitled "Technical report on the preliminary economic assessment for the Madsen gold project," prepared by Nordmin Engineering Ltd., dated effective April 20, 2016. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Quality assurance/quality control and core sampling protocols

Drill core samples are submitted to ALS Minerals in Thunder Bay, Ont., for sample preparation by crushing to 70 per cent less than two millimetres, a rotary split of one kilogram, and pulverization of the split to better than 85 per cent passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C., for gold analysis with a 30-gram fire assay and atomic absorption spectroscoopy finish (code Au-AA23). Samples returning greater than five g/t Au are reassayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are also analyzed by a one kg screen fire assay with screening to 100 microns. A duplicate 30 g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (accredited standards and non-accredited blanks) were inserted on a regular basis. Results are assessed for precision on a continuing basis.

Qualified persons and NI 43-101 disclosure

Phil Smerchanski, PGeo, vice-president of exploration for the company, is the designated qualified person for this news release within the meaning of National Instrument 43-101, and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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DarkPool 8 years ago

Kicking myself for not buying last October. Only so much cheddar to go around these days.

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DarkPool 8 years ago

Like to see a nice pullback here. Take myself a starter. But it Just keeps going.

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Prosper/high 8 years ago

wise buying

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Prosper/high 8 years ago

Great investment

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g0ldfinger 8 years ago

Pure Gold Mining drills one m of 450 g/t Au at Madsen

2016-07-14 06:41 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD EXTENDS HIGH GRADE GOLD TO A DEPTH OF 275 METRES-170 METRES BELOW HISTORIC WORKINGS AT MADSEN GOLD PROJECT

Pure Gold Mining Inc. has released additional drill results from the continuing 51,000-metre drill program at the company's 100-per-cent-owned Madsen gold project. Results reported herein represent the first set of holes from the expanded three rig drill program, designed to discover new resources and build continuity of high grade gold in close proximity to the existing permitted mining infrastructure.

Highlights from new drilling include:

-51.9 g/t gold over 1.0 metre in hole PG16-123 (Austin) -26.6 g/t gold over 2.0 metres in hole PG16-124 (Austin) -450.0 g/t gold over 1.0 metre in hole PG16-124 (Confederation) -5.3 g/t gold over 8.5 metres in hole PG16-136 (McVeigh) -Including 24.0 g/t gold over 1.0 metre

The McVeigh Horizon - Extended at Depth

Pure Gold continues to demonstrate that gold in the McVeigh horizon extends well below shallow historic workings and is open for expansion. With pierce points into mineralization adding 170 metres of vertical extent to the gold system, it is clear that the depth of the historic workings is not reflective of the true magnitude of the gold mineralization at Madsen.

The evidence for gold mineralization at depth in the McVeigh horizon is further reinforced by results published by a previous operator. Several historic drill holes, designed to test other targets, returned high grade gold in the McVeigh horizon. These results include 61.9 g/t gold over 0.7 metres (MUG-11-17) at a vertical depth of 980 metres and 17.7 g/t gold over 2.0 metres (MUG-12-29) at a vertical depth of 1,060 metres(1).

With gold bearing intersections in the McVeigh from surface to over a kilometre vertical depth, it is clear that this horizon has the potential for significant endowment. Comparatively the parallel Austin Horizon, situated 150 metres in the hanging wall of the McVeigh, was mined from surface to a depth of 1.2 kilometres, with mineralization remaining open down plunge. It produced over two million ounces from 1938 to 1974(1),(2).

In addition to results reported herein, an additional 6,300 meters in 23 drill holes have been completed in the McVeigh horizon to date, with assay results pending. Three drill rigs are expected to continue to test this target for the next several months.

The Austin Horizon - Confirmation of Additional Near Surface Mineralization

While the current drilling strategy is focused on defining new gold mineralization within the McVeigh horizon, it is also testing the unmined portions of the Austin horizon. The results of Pure Gold's 2016 drilling program confirm that the Austin horizon remains a viable target horizon for resource delineation and expansion. The recently completed Preliminary Economic Assessment envisions potential production from a subset of the current mineral resource, part of which is hosted in the Austin horizon(1). The ongoing 2016 drill program will continue to test the Austin horizon in conjunction with targeting the McVeigh horizon.

Confederation Assemblage - Returns 450.0 g/t Gold Over 1.0 Metre in Hole PG16-124

Drilling targeting the McVeigh horizon intersected bonanza grade gold mineralization in hole PG16-124 at shallow depths in the hanging wall Confederation Assemblage rocks. Further study is required to assess the prospectivity and dimensions of this high grade near surface intercept. Gold mineralization is known to occur in Confederation aged rocks elsewhere in the Red Lake District and on the Madsen Property, including the Madsen #1 Shaft zone where limited production occurred in 1936, 1974 and 1998(1).

Drill Results Summary

New assay results from select drill holes are outlined below:

Hole ID From To Length Gold
(m) (m) (m) (g/t)

PG16-123 8.0 9.0 1.0 51.9
PG16-124 104.0 105.0 1.0 450.0
234.0 235.7 1.7 10.3
252.0 254.0 2.0 26.6
PG16-135 195.2 206.0 10.8 4.0
incl. 195.2 197.0 1.8 10.3
PG16-136 397.7 406.2 8.5 5.3
incl. 400.3 401.3 1.0 24.0

*Assay composites were calculated using
uncut assays and are reported as drilled
widths and interpreted to vary between 50%
to 97% of true widths.
For a long section showing the McVeigh horizon drill results, click link below:

http://puregoldmining.ca/sites/default/files/McVeigh-Long-Section-07-14-2016.pdf

For a complete list of 2016 drill results to date, click link below:

http://puregoldmining.ca/sites/default/files/2016-DH-Intercepts-Table-July-14.pdf

Pure Gold's expanded 2016 exploration program is in-progress with three drill rigs currently testing the McVeigh horizon. The program includes 51,000 metres of core drilling, of which 21,316 metres have been completed and released to date. Further results will be released as available.

ABOUT MADSEN

The Madsen Mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen Gold Project hosts a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t gold (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t gold (in 0.79 million tonnes)(1). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of the geology and continuity of mineralization.

In addition to the mineral resource, the Madsen Gold Project hosts a number of prospective new discoveries including the Fork Zone and Russet South targets, as well as, two significant historic underground mines. Pure Gold believes the opportunity exists to advance these targets through the application of modern exploration science and a new understanding of the district. (1)See the National Instrument 43-101 technical report entitled "Technical Report on the Preliminary Economic Assessment For the Madsen Gold Project," prepared by Nordmin Engineering Ltd., dated effective April 20, 2016. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. (2)Historic production results from the Austin horizon provide no certainty that similar results will be realized from the McVeigh horizon.

QA/QC and Core Sampling Protocols

Drill core samples are submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, a rotary split of 1kg, and pulverization of the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30g fire assay and AAS finish (code Au-AA23). Samples returning >5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are also analyzed by a 1kg screen fire assay with screening to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (accredited standards and non-accredited blanks) were inserted on a regular basis. Results are assessed for precision on an ongoing basis.

Qualified Persons and 43-101 Disclosure

Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

Pure Gold Mining drills 3.7 m of 31.3 g/t Au at Madsen

2016-06-14 06:36 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD INTERSECTS 31.3 G/T GOLD OVER 3.7 METRES INCLUDING 54.1 G/T GOLD OVER 2.0 METRES AT THE MCVEIGH HORIZON, MADSEN GOLD PROJECT

Pure Gold Mining Inc. has released additional drill results from the McVeigh horizon, located on the company's 100-per-cent-owned Madsen gold project. Results reported herein represent the final set of results from the initial 16,000 metre program, which is now complete. As previously announced, the Company has begun an expanded exploration program that will include an additional 35,000 metres of drilling. The ongoing work is designed to test and advance new interpretations of near-surface targets in close proximity to the existing mining infrastructure.

"Drilling to date indicates that the McVeigh horizon is open for resource expansion along strike and at depth, below historical mining depths of 230 metres," stated Darin Labrenz, President and CEO of Pure Gold. "The opportunity for resource growth at relatively shallow depths is rare in a historic mining project such as this. We believe the McVeigh horizon has similar potential to the parallel Austin horizon which was mined from surface to a depth of 1,200 metres over a two kilometre strike length."

Highlights from infill and step-out drilling on the one kilometre long McVeigh horizon include:

-- 40.1 g/t gold over 1.2 metres in hole PG16-110 -- 31.3 g/t gold over 3.7 metres in hole PG16-112 -- Including 54.1 g/t gold over 2.0 metres -- 14.2 g/t gold over 5.0 metres in hole PG16-122 -- Including 28.5 g/t gold over 2.1 metres

New assay results from select drill holes testing the McVeigh horizon are outlined below:

From To Length Gold
Hole ID (m) (m) (m) (g/t) Zone

PG16-108 172.0 180.2 8.2 6.0 Austin
incl. 174.0 178.0 4.0 10.5
PG16-110 291.5 292.7 1.2 40.1 McVeigh
PG16-111 202.7 204.7 2.0 5.2 McVeigh
PG16-112 281.3 285.0 3.7 31.3 McVeigh
incl. 281.3 283.3 2.0 54.1
PG16-115 166.7 168.7 2.0 7.5 Austin
PG16-117 275.7 278.9 3.2 5.7 McVeigh
PG16-117 289.0 291.5 2.5 8.5 McVeigh
incl. 290.5 291.5 1.0 20.1
PG16-117 320.0 322.0 2.0 11.5 McVeigh
PG16-119 123.1 130.0 6.9 4.4 McVeigh
incl. 124.0 127.2 3.2 7.1
PG16-121 140.5 146.3 5.8 5.7 McVeigh
incl. 142.0 144.8 2.8 10.2
PG16-122 8.3 9.3 1.0 30.1 Austin
PG16-122 128.5 133.5 5.0 14.2 McVeigh
incl. 130.6 132.8 2.1 28.5

(i)Assay composites were calculated using uncut assays and are reported as
drilled widths and interpreted to vary between 55% to 90% of true widths.
The current targeting strategy is focused on extending known and discovering new shoots of gold mineralization within the McVeigh horizon along a one kilometre corridor. The results of our drilling confirm that the McVeigh horizon is a fold continuation of the Austin horizon with the mineralization of the McVeigh horizon sharing the same characteristics and similar widths and grades as the parallel Austin horizon which produced over two million ounces of gold from surface to a depth of 1,200 metres.

Pure Gold has initiated an expansion of the 2016 exploration program, including an additional 30,000 metres of drilling targeting down plunge extensions of gold mineralization below the historical mine workings in the McVeigh Horizon and 5000 metres on satellite target zones. The Company is further accelerating this program with the addition of a third drill rig. Results from the program will continue to be released as available.

For a long section showing the McVeigh horizon drill results, please click here:

http://puregoldmining.ca/sites/default/files/McVeigh-Long-Section-06.14.2016.pdf

For a complete list of 2016 drill results to date, please click here:

http://puregoldmining.ca/sites/default/files/2016-DH-Intercepts-Table-June-14.pdf

ABOUT MADSEN

The Madsen Mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen Gold Project hosts an operational head frame, a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t gold (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t gold (in 0.79 million tonnes)(1). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of the geology and continuity of mineralization.

In addition to the mineral resource, the Madsen Gold Project hosts a number of highly prospective new discoveries including the Fork Zone and Russet South targets, as well as, two significant historic underground mines. Pure Gold believes the opportunity exists to advance these near-surface, high grade exploration targets through the application of modern exploration science and a new understanding of the district.

(1) See the National Instrument 43-101 technical report entitled "Technical Report on the Preliminary Economic Assessment For the Madsen Gold Project," prepared by Nordmin Engineering Ltd., dated effective April 20, 2016. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

QA/QC and Core Sampling Protocols

Drill core samples are submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, a rotary split of 1kg, and pulverization of the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30g fire assay and AAS finish (code Au-AA23). Samples returning greater than 5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are also analyzed by a 1kg screen fire assay with screening to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (accredited standards and non-accredited blanks) were inserted on a regular basis. Results are assessed for precision on an ongoing basis.

Qualified Persons and 43-101 Disclosure

Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

Pure Gold Mining drills 2.9 m of 20.1 g/t Au at Madsen

2016-05-04 07:00 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD REPORTS ADDITIONAL NEAR SURFACE, HIGH GRADE GOLD AT RUSSET SOUTH, MADSEN GOLD PROJECT

Pure Gold Mining Inc. has released additional results from drilling at Russet South located on the company's 100-per-cent-owned Madsen gold project. Results reported herein from the Beta and Kappa targets intersected high grade, near surface gold mineralization within close proximity to the existing mining infrastructure.

"Our winter drill program at Russet South has successfully extended outcropping mineralization discovered in 2015, with results continuing to support the potential for Russet South to provide near-mill resources in the future," stated Darin Labrenz, President & CEO of Pure Gold. "Together with Alpha, the Beta and Kappa gold zones highlight the near surface potential of the Russet South area, with both of these targets outcropping at surface, intersected to a vertical depth of 70 meters, and open at depth. The extension of high grade gold in multiple target areas at Russet South, combined with the ongoing two-rig drill testing of expansion potential within the McVeigh horizon continues to advance our goal of unlocking the exploration potential of Madsen."

The Russet South target is a series of high grade, near-surface gold zones, located approximately 1.5 kilometres west of the McVeigh horizon and associated mine infrastructure. While the on-going drill program is focused on potential resource expansion within the McVeigh, a smaller subset of drilling was completed in early 2016 at the Russet South area where previous drilling and channel sampling by Pure Gold defined three separate targets - Alpha(1), Beta and Kappa. These targets share a similar geologic environment to Madsen's 8 Zone resource which is situated 1.6 kilometres down dip on the same geologic contacts.

Assay results from select drill holes targeting Beta and Kappa zones at Russet South are highlighted below:

Hole ID From (m) To (m) Length (m) Au (g/t) Zone

PG16-081 7.2 33.5 26.3 0.9 Beta
incl. 10.8 11.2 0.4 25.7 Beta
incl. 32.3 33.5 1.2 6.8 Beta
PG16-089 16.8 17.8 1.0 17.3 Beta
26.0 27.0 1.0 5.9 Beta
PG16-091 24.2 27.1 2.9 20.1 Beta
incl. 24.2 25.2 1.0 42.2 Beta
Incl. 26.2 27.1 0.9 14.3 Beta
PG16-097 6.0 22.7 16.7 0.7 Kappa
PG16-099 92.0 93.0 1.0 17.7 Kappa
(i) Assay composites were calculated using uncut assays and are reported as drilled widths and interpreted to vary between 60% to 90% of true widths.

Beta Target

Nine short drill holes were drilled at the Beta target in winter 2016 to follow-up on 2015 outcrop sampling and drilling results which included 39.1 g/t gold over 2.9 metres in drill hole PG15-031(2) and a surface chip sample of 53.0 g/t gold over 1.1 metres(3). Results reported herein have extended the strike and depth extent of the outcropping mineralization. The current strike extent of the gold bearing silicified zone, based on previous sampling and 2016 drill results, is approximately 40 meters near surface and the zone remains open to depth.

Kappa Target

Four short holes were drilled at the Kappa target in winter 2016 to follow-up on 2015 channel sample results, including 4.8 g/t gold over 2.3 metres(3), and drill results, including an intercept of 12.3 g/t gold over 2.9 metres in PG15-045(4). All four drill holes intersected the 160 meter long gold mineralized quartz vein zone. One drill hole reported in this release returned high grade gold with the remaining three holes returning broad intervals of near-surface gold mineralization.

2,858 metres of diamond drilling was completed this season in 20 drill holes at the Russet South target. With the winter phase of drilling at Russet South now complete, the drill rig was re-located to the McVeigh horizon, where drilling is targeting down plunge extensions of gold mineralization below the historical mine workings at shallow depths. To date a total of approximately 11,184 metres of diamond drilling has been completed in 44 drill holes testing the McVeigh horizon and the upper portions of the Austin horizon at the Madsen Mine site. Additional results from drill holes at the McVeigh horizon are pending.

Management Changes

Pure Gold would also like to announce that effective April 29, 2016, Phil Smerchanski has been appointed Vice President, Exploration, from his previous position with the Company as Director, Geoscience. In addition, Christopher Lee has been appointed Chief Geoscientist. Chris previously served as a Technical Advisor to the Company. Mr. Smerchanski replaces Darren O'Brien who started with the Company in 2014. "Darren has been an integral part of the Pure Gold team since its early days, and has been instrumental in advancing the Company to its current stage. We thank Darren for all his hard work and wish him well in his future endeavors," stated Darin Labrenz, President & CEO of Pure Gold.

ABOUT MADSEN

The Madsen Mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen Gold Project hosts an operational head frame, a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t Au (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t Au (in 0.79 million tonnes)(5). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of continuity of mineralization.

In addition to the mineral resource, the Madsen Gold Project hosts a number of highly prospective new discoveries including the Fork Zone and Russet South targets. Pure Gold believes the opportunity exists to advance these near-surface, high grade exploration targets through the application of modern exploration science and a new understanding of the district.

(1) See press release dated April 11, 2016; (2) See press release dated May 27, 2015; (3) See press release dated September 15, 2015; (4) See press release dated June 16, 2015; (5) See the National Instrument 43-101 technical report entitled "Technical Report for the Madsen Gold Project Red Lake, Ontario, Canada," prepared by SRK Consulting (Canada) Inc. dated effective February 18, 2014. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

QA/QC and Core Sampling Protocols

Drill core samples are submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, a rotary split of 1kg, and pulverization of the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30g fire assay and AAS finish (code Au-AA23). Samples returning greater than 5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are also analyzed by a 1kg screen fire assay with screening to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (accredited standards and non-accredited blanks) were inserted on a regular basis. Results are assessed for precision on an ongoing basis.

Qualified Persons and 43-101 Disclosure

Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

Pure Gold Mining releases NI 43-101 Madsen PEA

2016-04-20 06:49 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD ANNOUNCES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR THE MADSEN GOLD PROJECT

Pure Gold Mining Inc. has released the results of a preliminary economic assessment on its 100-per-cent-owned Madsen gold project in the Red Lake mining district of Ontario, Canada. The PEA provides a base case assessment of developing a portion of the mineral resources by utilizing existing mining infrastructure, including the permitted mill and tailings facilities.

"Madsen is a unique Canadian gold project with a long history of high-grade gold production. The base case PEA provides an ideal foundation for targeted growth as we look to expand the potential economics through an accelerated exploration program," stated Darin Labrenz, President and CEO of Pure Gold. "The study demonstrates the value of the existing permitted infrastructure, outlining a low capital option with attractive returns based solely on a portion of the existing mineral resource. It provides a blue print for expansion, and our primary focus now is on mineral resource growth near the historic mine site with a view to increasing the existing resource and enhancing the robust base case economics."

PEA HIGHLIGHTS

Base case parameters assume a gold price of US$1,175/oz and an exchange rate (US$ to C$) of 0.80.

All currencies are reported in Canadian dollars unless otherwise specified.

-- Pre-Tax NPV5% and IRR of $104 million and 74% respectively with a 1.5 year payback period -- After-tax NPV5% and IRR of $76 million and 62% respectively with a 1.5 year payback period -- Mine life of 6.5 years with average annual gold production of 47,191 ounces and peak annual gold production of approximately 58,000 ounces -- Life of mine ("LOM") diluted head grade of 8.3 g/t gold -- Mine plan considers only a portion of the existing mineral resource that is within 600 metres of surface and accessible via the existing ramp -- Pre-production capital cost estimated at $20.1 million with a 12 month pre-production period -- LOM sustaining capital costs estimated at $39.2 million -- LOM cash cost of US$571/oz(1) and LOM cash cost plus sustaining cost of US$692/oz

(1)Cash cost includes mining cost, mine-level G&A, mill and refining cost

The PEA was prepared by Nordmin Engineering Ltd., Mining Services Division of Sudbury, Ontario ("Nordmin"). Nordmin reported on the scoping-level capital costs, operating costs, and project economics associated with the potential development of the Madsen mineral resource.

The PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

All figures are stated in Canadian Dollars ("C$") unless otherwise noted. The Technical Report pursuant National Instrument ("NI") 43-101 guidelines for the Preliminary Economic Assessment will be filed on SEDAR within 45 days.

PEA OVERVIEW

PEA Details

The PEA envisions an underground mining operation utilizing the existing mining, milling, and tailings management infrastructure at Madsen. The existing McVeigh portal is approximately one kilometre from the existing mill, and currently provides ramp access to the top 150 metres of the mine workings. The PEA mine plan includes further development of the ramp to a depth of 600 metres to access the upper 12 levels of the mine.

PEA Parameters

Gold Price US$1,175/oz
Exchange Rate (US$ to C$) 0.80
Total Resource Tonnes Mined / Milled 1.063 million
Processing Rate 550 tpd
Diluted Head Grade 8.3 g/t
Gold Recovery Rate 92%
Mine Life 6.5 years
Total Gold Ounces Recovered 259,551 ozs
Average Annual Gold Production 47,191 ozs
Peak Annual Gold Production 57,958 ozs
Pre-production Capital Cost $20.1 million
Sustaining Capital Cost (Life of Mine) $39.2 million
Unit Operating Costs (per tonne processed)
Mining Costs $104/tonne
Processing Costs $31/tonne
G&A $40/tonne
LOM Average Cash Cost(1) US$571/oz
LOM Cash Cost plus Sustaining Cost US$692/oz
Royalties None
Corporate Income Tax / Ontario Mining Tax 25% / 10%

(1)Cash cost includes mining cost, mine-level G&A, mill and refining cost
PEA Sensitivities

Gold Price (US$/oz) $1,025 $1,075 $1,125 $1,175 $1,225 $1,275 $1,325
Pre-Tax NPV5% (C$mm) $65 $78 $91 $104 $118 $131 $144
After-Tax NPV5%
(C$mm) $49 $58 $67 $76 $86 $95 $104
Pre-Tax IRR 49% 58% 66% 74% 83% 91% 99%
After-Tax IRR 42% 49% 56% 62% 69% 75% 82%
Mineral Resource

The Madsen mineral resource estimate, prepared by SRK Consulting (Canada) Inc., is based upon a geostatistical block model that incorporated over 550,000 individual assays from 13,624 core boreholes (816,367 metres), 4,446 historic underground stope chip samples, and 27 levels of geologic mapping and sampling. Historic underground boreholes were typically drilled perpendicular to development drifts on all levels of the mine, usually at 25 feet (7.6 metres) spacing. Historic drilling was validated by 764 boreholes completed since 1999 by modern operators following best practices guidelines.

Mineral Resource Statement for Madsen Gold Project(i)

Grade Contained Gold
Resource Classification Tonnes (Au g/t) (oz.)

Indicated 3,236,000 8.93 928,000
Inferred 788,000 11.74 297,000

(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures have been rounded to reflect the relative
accuracy of the estimates. Mineral resources are reported at a cut-off
grade of 5.0 g/t gold based on US$1,000 per troy ounce gold and gold
metallurgical recoveries of 94 percent.
Capital Costs

Pre-production capital costs are estimated at $20.1 million with the majority of the costs associated with mill refurbishment as well as ramp and surface development. Additional capital cost requirements include surface installations and a new ventilation and pumping system which will utilize the existing shaft. Pre-production capital will be minimized by utilizing existing infrastructure, including a 500 tonne per day mill with carbon-in-pulp (CIP) circuit and tailings management facility. The existing McVeigh portal will be further developed from its current access of 150 metres, down to a total depth of 600 metres. Existing workings will be rehabilitated as access development.

Underground mining and haulage is anticipated to be completed by contract mining companies using their own equipment, conducted 365 days per year. Electrical grid power will provide the power to the project over the life of the mine. The site is currently serviced by 44 kV power.

LOM sustaining capital costs are estimated at $39.2 million with the majority of the costs associated with ramp development, slashing existing workings, and new access development.

Capital Costs Pre-Production Sustaining Total

Surface Infrastructure $4.7 - $4.7
Mining Infrastructure $5.5 $0.5 $5.9
Mobile Equipment $1.4 $1.4 $2.8
Development and Capital
Operating Costs (5%) $2.4 $32.6 $35.1
Electrical $1.3 - $1.3
Mill and Tailings Management
Refurbishment $2.0 $0.6 $2.7
Diamond Drilling $0.5 $2.3 $2.7
Subtotal $17.8 $37.4 $55.3
Contingency % 15% 5% 7%
Contingency $2.3 $1.9 $4.1
Total Capital Costs $20.1 $39.2 $59.3

(i)in C$millions, numbers may not add due to rounding
Mining

The PEA mine plan envisages that mechanized cut & fill, shrinkage, and long-hole mining methods would be employed to extract the mineralized material. All three of these methods have been used historically with success at the Madsen mine over its 38 year mining history.

Mining Methods in PEA Mine Plan

% Mining
Mining Method Tonnes % Total Tonnes Dilution
Cut & Fill Stope 533,008 50.1% 5%
Shrinkage Stope 390,880 36.8% 15%
Long-Hole Stope 139,370 13.1% 20%
Total 1,063,258
Total mineralized material mined over the course of the mine life is 1.063 million tonnes of which 82% is indicated and 18% is inferred. The following table summarizes the mineral resource accounting for 5 to 20% mining dilution, dependent on mining method, and 92% mill recovery.

Mineral Resource (Mine Diluted) Included in PEA Mine Plan(i)

Grade Recoverable
Resource Classification Tonnes (Au g/t) Gold (oz.)

Indicated 868,773 8.55 219,826
Inferred 194,485 6.91 39,726

(i)Mineral resources are not mineral reserves and do not have demonstrated
economic viability. All figures have been rounded to reflect the relative
accuracy of the estimates. Initial disclosure of mineral resources are
reported at a cut-off grade of 5.0 g/t gold based on US$1,000 per troy
ounce gold and gold metallurgical recoveries of 94 percent. For the
purpose of the PEA, mine diluted mineral resources are reported with a
variable cut-off grade dependent on individual stoping areas, a US$1,175
per troy ounce gold, and gold metallurgical recoveries of 92 percent.
All ramp and level waste development would be performed by mining contractor using two boom electric hydraulic drill jumbos, 3.5 cubic-yard bucket LHD's, 20 tonne haul trucks, scissor lift/bolters and other rubber tired diesel-powered support equipment. Total LOM waste development is summarized below.

Waste Development in PEA Mine Plan

Waste Development Metres Tonnes

Ramp 2,968 128,237
Slash 5,759 159,221
Ventilation Raise 223 1,985
Access Development 3,768 162,788
Total 452,231
All mine manpower except for technical and support staff would be contracted employees. Total personnel on-site, including contractors, is estimated at 150 people. This estimate includes mine and surface employees, mine site management, as well as engineers and geology personnel. The direct mining personnel totals approximately 89 persons at peak. Technical and support staff are expected to be based in the Red Lake community.

Processing

The PEA considers refurbishing the existing mill and tailings management facility which have been on care and maintenance since 1999. Mill production of 550 tonnes per day is assumed to be achievable by modernizing controls and instrumentation of the reagent and grinding circuits. Mill and tailings dam refurbishment, inclusive of contingency, is estimated at $3.1 million, of which $2.3 million is included as a pre-production capital cost item and the remainder is sustaining capital.

The mill consists of a single stage crushing circuit and a two stage grinding circuit, which is then followed by cyanide leaching. The leached gold is collected in a CIP circuit which is subsequently stripped using mild caustic and collected on stainless steel mesh cathodes by electrowinning. The product from electrowinning is refined into dore bars in an induction furnace.

A 92% gold recovery was assumed for the PEA, based on the historical average recovery rate of the mill when it operated intermittently from 1997 to 1999.

The Company's existing permits, including the Environmental Compliance Approval, allows for operation of a 1,089 tonne per day mill and CIP circuit with discharge of treated tailings to the existing tailings facility. Further work is required to determine maximum optimum processing rates.

Operating Costs

Operating Costs $/t processed $/oz US$/oz

Mining Cost $104 $424 $339
Processing Cost $31 $126 $100
G&A Cost $40 $164 $132
Total Cash Cost(1) $174 $714 $571
Sustaining Capital $37 $151 $121
Cash Cost plus Sustaining
Capital $211 $865 $692

(1)Cash cost includes mining cost, mine-level G&A, mill and refining cost;
numbers may not add due to rounding
Project Opportunities

The PEA supports that Madsen has the potential to be economically viable. While the PEA only considers the extraction of approximately 25% of Pure Gold's existing mineral resource tonnes, opportunities exist to expand the base case scenario through project exploration and resource growth. Pure Gold has been successful in intersecting mineralization below the shallow mine workings in the McVeigh horizon in close proximity to the proposed ramp development, including hole PG16-071 which intersected 11.0 g/t gold over 5.9 metres, approximately 80 metres below historic mining(2). The Company currently has two rigs on site targeting high grade gold mineralization within the McVeigh horizon which remains open for expansion below a depth of 230 metres. Pure Gold is also pursuing additional exploration opportunities on the property including at Russet South which is located approximately 1.5 kilometres west of the permitted infrastructure, where the Company recently completed 2,700 metres of diamond drilling in 20 drill holes. The Company recently announced results from the first six holes of the program, including an intercept of 56.2 g/t gold over 1.3 metres from hole PG16-067(3).

Additional opportunities to be investigated include:

-- Optimizing mine plan to consider mineral resources currently outside of the scope of this PEA; -- Review optimization of mill processing rates as well as potential increases to throughput rate under the existing Environmental Compliance Approval which allows for operation of a 1,089 tonne per day mill and CIP circuit; -- Further metallurgical test work to optimize gold recovery; and -- Conversion of inferred resources to measured and indicated (no certainty they will be converted)

(2)See press release dated April 4, 2016 for further details (3)See press release dated April 11, 2016 for further details

Qualified Persons and 43-101 Disclosure

Darren O'Brien, P.Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

Glen Cole, P.Geo, of SRK Consulting (Canada) Inc., is an independent Qualified Person as defined by NI 43-101 and has reviewed and approved the contents of this news release. Mr. Cole supervised the preparation of the Mineral Resource estimate with an effective date of April 20, 2016.

Kevin Niemela P.Eng., General Manager/Manager of Mining Services for Nordmin Engineering Ltd., is an independent Qualified Person as defined by NI 43-101 and has reviewed and approved the contents of this news release. Mr. Niemela is responsible for Financial Analysis, Mine Planning and Development, Operating Costs and overall Project Lead.

John Folinsbee, P. Eng, of Heads Ore Tails Metallurgical Consulting Inc. is an independent Qualified Person as defined by NI 43-101 and has reviewed and approved the contents of this news release. Mr. Folinsbee is responsible for Mineral Processing and Metallurgy.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

👍️0

g0ldfinger 8 years ago

http://www.stockwatch.com/News/Item.aspx?bid=Z-C:PGM-2360014&symbol=PGM®ion=C
Pure Gold Mining Inc
Symbol C : PGM
Shares Issued 125,769,854
Close 2016-04-08 C$ 0.40
Recent Sedar Documents
View Original Document

Pure Gold Mining drills 1.3 m of 56.2 g/t Au at Madsen

2016-04-11 06:39 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD INTERSECTS 56.2 G/T GOLD OVER 1.3 METRES AT RUSSET SOUTH, MADSEN GOLD PROJECT

Pure Gold Mining Inc. has released results from drilling at Russet South located on the company's 100-per-cent-owned Madsen gold project. These holes are part of the ongoing 16,000 metre drill program designed to test and build continuity of high grade gold mineralization at Russet South and, as previously reported, within the McVeigh horizon which is in close proximity to the mine infrastructure.

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g0ldfinger 8 years ago

Pure Gold Mining drills 5.9 m of 11 g/t Au at Madsen

2016-04-04 06:36 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD CONFIRMS MCVEIGH DEPTH POTENTIAL WITH MULTIPLE HIGH GRADE DRILL INTERCEPTS BELOW HISTORIC MINE WORKINGS AT MADSEN

Pure Gold Mining Inc. has released results from diamond drilling targeting the McVeigh horizon at the company's 100-per-cent-owned Madsen gold project. These holes are part of the continuing 16,000-metre drill program designed to test and build continuity of high-grade gold mineralization in close proximity to the historic mine.

"Our drilling confirms that the McVeigh horizon is open for expansion downplunge. The McVeigh is a folded continuation of the Austin horizon which historically produced over two million ounces of gold in 36 years of continuous mining at Madsen," said Darin Labrenz, president and chief executive officer of Pure Gold. "We have now intersected broad zones of high-grade gold mineralization in multiple locations beneath historic mining areas of the McVeigh and we believe the mineralization is open to expansion at depth. While historic mining of the Austin horizon continued to a depth of more than 1,200 metres, our deepest hole to date intersected the parallel McVeigh at less than 300 metres. We see this new understanding of folding and repetition as an important development for Madsen and for the Red Lake camp, and we look forward to continuing to advance Madsen by drill testing the downward plunge of these high-grade shoots."

Drilling to date has targeted downplunge extensions of high-grade gold mineralization within the McVeigh horizon which remains open for expansion below a depth of 230 metres. The results of the company's drilling confirm that the McVeigh horizon is a fold continuation of the Austin horizon and demonstrate the expansion potential of the McVeigh horizon. Geologically, the mineralized shoots of the McVeigh horizon share the same characteristics, and similar widths and grades, as the parallel Austin horizon, which produced over two million ounces of gold from surface to a depth of 1,200 metres.

Drilling on the north end of McVeigh intersected high-grade mineralization approximately 50 metres below the deepest extent of historic mining including:

10.3 grams per tonne gold over 3.2 metres in hole PG16-060;
Including 50.8 g/t gold over 0.6 metre.
Drilling collared approximately one kilometre to the south intersected high-grade gold mineralization approximately 80 metres below historic mining including the following three distinct intercepts from PG16-071:

11.0 g/t gold over 5.9 metres;
30.0 g/t gold over one metre;
10.9 g/t gold over one metre.
Since January, 2016, approximately 6,300 metres of diamond drilling have been completed in 24 drill holes near the Madsen mine. This initial drilling is designed to test the continuity of plunging mineralized shoots within the McVeigh horizon to a maximum depth of approximately 300 metres below surface. An additional 2,200 metres of diamond drilling have been completed in 16 holes targeting the high-grade Russet South discoveries, located 1.5 kilometres from the Madsen Mine head frame, with further results pending.

Assay results from nine drill holes targeting the Austin and McVeigh horizons are highlighted in the table.

MCVEIGH TARGET SIGNIFICANT ASSAY RESULTS(i)

Hole ID From To Length Au
(m) (m) (m) (g/t)

PG16-059 246.9 248.0 1.1 6.0
PG16-060 243.0 247.0 4.0 11.9
incl. 246.0 247.0 1.0 24.1
429.2 432.4 3.2 10.3
incl. 431.8 432.4 0.6 50.8
PG16-061 235.0 238.2 3.2 6.0
378.5 383.0 4.5 4.6
incl. 378.5 381.0 2.5 5.9
PG16-062 181.9 184.0 2.1 1.8
PG16-063 244.5 250.0 5.5 1.0
PG16-064 245.7 246.5 0.8 4.6
PG16-065 Hole abandoned
PG16-066 391.4 398.1 6.6 2.9
PG16-068 333.5 336.7 3.2 3.2
PG16-071 279.6 285.5 5.9 11.0
incl. 283.3 285.5 2.2 22.5
298.3 299.3 1.0 30.0
310.0 311.0 1.0 10.9

(i) Assay composites were calculated using uncut assays and are
reported as drilled widths and interpreted to vary between 75
per cent and 100 per cent of true widths.
For a plan map showing the McVeigh horizon drill results, a long section showing the McVeigh horizon and a complete list of 2016 drill results to date, please visit the company's website.

As previously reported, the company has engaged Nordmin Engineering Ltd. to complete a preliminary economic assessment of the Madsen gold project. The base-case assessment is designed to minimize capital expenditures by employing existing infrastructure and resources, and is based on throughput of 500 tonnes per day. Pure Gold is in receipt of permits to allow expansion of the existing mill facility to more than double this rate. The study is under way with results anticipated within the current quarter.

About Madsen

The Madsen mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen gold project hosts an operational head frame, a permitted mill and tailings facility, and access to power, water and labour. The Madsen gold project has an indicated resource of 928,000 ounces gold at 8.93 g/t Au (in 3.24 million tonnes) and an inferred resource of 297,000 ounces gold at 11.74 g/t Au (in 790,000 tonnes)(1). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of continuity of mineralization.

In addition to the mineral resource, the Madsen gold project hosts a number of highly prospective new discoveries including the Fork zone and Russet South targets where drilling in 2015 returned 15.0 g/t gold over five metres from hole PG15-028 and 39.1 g/t gold over 2.9 metres from hole PG15-0313. Pure Gold believes the opportunity exists to advance these near-surface, high-grade exploration targets through the application of modern exploration science and a new understanding of the district.

(1) See the National Instrument 43-101 technical report entitled "Technical Report for the Madsen Gold Project Red Lake, Ontario, Canada," prepared by SRK Consulting (Canada) Inc. dated effective Feb. 18, 2014. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Quality assurance/quality control and core-sampling protocols

Drill core samples were submitted to ALS Minerals in Thunder Bay, Ont., for sample preparation by crushing to 70 per cent less than two millimetres, rotary split of one kilogram and pulverization of the split to better than 85 per cent passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C., for gold analysis with a 30-gram fire assay and AAS finish (code Au-AA23). Samples returning greater than five g/t Au are reassayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are reanalyzed by a one kg screen fire assay with screen to 100 microns. A duplicate 30 g fire assay is conducted on the screen undersize while assaying of entire oversize fraction (code Au-SCR21). Control samples (accredited standards and blanks) were inserted on a regular basis.

Qualified persons and National Instrument 43-101 disclosure

Darren O'Brien, PGeo, vice-president of exploration for the company, is the designated qualified person for this news release within the meaning of National Instrument 43-101, and has reviewed and verified that the technical information contained herein is accurate, and approves of the written disclosure of same.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

👍️0

g0ldfinger 8 years ago

Pure Gold Mining drills 11.2 m of 11.5 g/t Au at Madsen

2016-03-01 06:38 ET - News Release

Mr. Darin Labrenz reports

PURE GOLD INTERSECTS 16 G/T GOLD OVER 7.0 METRES AT MADSEN AND ANNOUNCES INCREASE OF CURRENT DRILL PROGRAM TO 16,000 METRES

Pure Gold Mining Inc. has released results from the first four drill holes targeting the McVeigh horizon located on the company's 100-per-cent-owned Madsen gold project in Ontario's Red Lake gold district. These initial holes are part of Pure Gold's ongoing drill program designed to test and advance new interpretations of near-surface high-grade targets, in close proximity to the historic mine.

Over the past six months the Company has compiled and analyzed the digitized historic geology, drilling and mining data of Madsen's parallel Austin and McVeigh mineralized horizons. The Austin horizon was the principal source of mine feed for the Madsen Mine, which was in operation for more than 30 years. During this time, well over two million ounces of gold was produced from surface to a depth of 1,200 metres, at a historic production rate of approximately 170,000 ounces of gold per 100 vertical metres. The parallel McVeigh horizon only saw limited near-surface production with a maximum mining depth of approximately 230 metres.

"These initial drilling results confirm that the McVeigh horizon hosts broad shoots of high-grade gold mineralization. Importantly, current drilling strongly suggests there is a tremendous opportunity to expand this mineralized zone. We believe that the McVeigh horizon is open at depth, and based on our success to date, we are adding a second drill rig and expanding our Phase 1 drill program," said Darin Labrenz, President and CEO of Pure Gold.

Assay results from the first four drill holes testing Central McVeigh have been received and are highlighted in the table below:

McVeigh Target Significant Assay Results(i)

Hole ID From (m) To (m) Length (m) Au (g/t) Zone

PG16-054 2.2 14.1 11.9 6.5 Austin
304.0 305.7 1.7 11.4 McVeigh
PG16-055 3.8 15.0 11.2 11.5 Austin
incl. 3.8 11.0 7.2 16.7
PG16-056 2.3 4.0 1.7 4.1 Austin
119.0 128.3 9.3 11.3 McVeigh
incl. 119.0 125.0 6.0 16.3
PG16-057 hole abandoned
PG16-058 153.0 160.0 7.0 16.0 McVeigh
incl. 153.9 156.0 2.1 45.5
201.8 206.1 4.3 4.7 McVeigh
215.0 222.0 7.0 9.9 McVeigh

(i)Assay composites were calculated using uncut assays and are reported as
drilled widths and interpreted to vary between 75% to 100% of true widths.
Since January, approximately 3,000 metres of diamond drilling has been completed in 10 drill holes at Madsen. This initial drilling is designed to test the continuity of steeply plunging mineralized shoots within the McVeigh horizon to a maximum depth of approximately 300 metres below surface. Geologically, the mineralized shoots of the McVeigh horizon share the same characteristics and similar widths and grades as the parallel Austin horizon, and the Company believes there is significant potential to expand the mineralization at McVeigh. Given this, the Company intends to increase and accelerate the current drill program with the addition of a second drill rig and an additional 10,000 metres of drilling, for a total of 16,000 metres(1). A limited portion of this expanded drilling program will be allocated towards near surface expansion of the high grade Russet South discoveries, located 1.5 kilometres from the Madsen Mine headframe.

ABOUT MADSEN

The historic Madsen Mine operated for over 36 years with historic production of 2.5 million ounces grading 9.9 g/t gold. The Madsen Gold Project hosts an operational head frame, a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t Au (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t Au (in 0.79 million tonnes)(2). The mineral resource is based on 13,624 drill holes, the majority being underground holes evenly dispersed throughout the mineral resource, and a robust geologic model based on 27 levels of geological mapping and sampling.

In addition to the mineral resource, the Madsen Gold Project hosts a number of highly prospective new discoveries including the Fork Zone and Russet South targets where drilling in 2015 returned 15.0 g/t gold over 5.0 metres from hole PG15-028 and 39.1 g/t gold over 2.9 metres from hole PG15-031(3). Pure Gold believes the opportunity exists to advance these near-surface, high-grade exploration targets through the application of modern exploration science and a new understanding of the district.

(1) See press release dated January 25, 2016. (2) See the National Instrument 43-101 technical report entitled "Technical Report for the Madsen Gold Project Red Lake, Ontario, Canada," prepared by SRK Consulting (Canada) Inc. dated effective February 18, 2014. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. (3) See news releases dated March 2, 2015 and March 16, 2015.

QA/QC and Core Sampling Protocols

Drill core samples were submitted to ALS Minerals in Thunder Bay, Ontario for sample preparation by crushing to 70% less than 2mm, rotary split off 1kg, and pulverize the split to better than 85% passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C. for gold analysis with a 30 gram fire assay and AAS finish (code Au-AA23). Samples returning greater than 5 g/t Au are re-assayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold are re-analyzed by a 1kg screen fire assay with screen to 100 microns. A duplicate 30g fire assay is conducted on the screen undersize while assaying of entire oversize fraction (code Au-SCR21). Control samples (accredited standards and blanks) were inserted on a regular basis.

Qualified Persons and 43-101 Disclosure

Darren O'Brien, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

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g0ldfinger 8 years ago

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g0ldfinger 8 years ago

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g0ldfinger 8 years ago

These preliminary results are fantastic this company could be another Goldcorp

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goldenpolarbear 10 years ago

South-Africa approves-law that-gives-state-a 20%-of-oil, mining-firms
Cecilia Jamasmie | March 12, 2014

This is DISASTER IMHO for the South African platinum mining industry!

South African President, Jacob Zuma.
South Africa’s controversial Mineral and Petroleum Resources Development Amendment Bill became a law Tuesday, after the parliament voted in favour of the amendments, which include giving the state a stake of 20% in new gas and oil exploration and production ventures.

The new law also lets the state to acquire an unspecified additional share at an “agreed price,” giving the mines minister the right to dictate which minerals are strategic for South Africa and so force producers to process a portion of their output domestically instead of exported in raw form.

The ruling, reports Reuters, still needs to be signed into law by President Jacob Zuma before it actually becomes effective.

Mining and oil companies have warned the approved changes will discourage investment in the country as it violates international treaties. They have also say the new law would give the mines minister too much regulatory discretion, disregarding the constitutional provisions on property rights.

South Africa is the continent’s largest coal and gold producer and the world’s biggest supplier of platinum and chrome.

http://www.mining.com/south-africa-approves-law-that-gives-state-a-20-stake-in-oil-mining-firms-29312/

International powerful investors will quickly find greener and safer pastures to extract ore from many other continents!

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Jardine 17 years ago

Angloplat opposes Swiss plan for platinum ETF

By Eric Onstad

JOHANNESBURG (Reuters) - The world's biggest platinum producer Angloplat will not supply physical metal to a planned exchange-traded fund based on platinum because it would sharpen supply shortages, the firm said on Tuesday.

"The reason why we as a producer are opposed to it is that it takes metal away from physical consumption and therefore would push the price up," said Trevor Raymond, senior manager of investor relations at South Africa's Anglo Platinum.

Switzerland's Zurich Cantonal Bank planned to launch ETFs based on platinum, palladium and silver from next month, it said in a statement dated April 13. (See)

ETFs have been very successful in the gold sector since they allow investors to gain exposure to commodity markets without worrying about setting up futures trading accounts or taking physical delivery.

Sponsors of such funds buy a matching amount of the metal from the market to keep in bank vaults.

"To establish an ETF in platinum would be difficult given the shortness of supply of the metal and we don't believe any of the producers would support it," Raymond said.

Michael Widmer, director of metals research at Calyon Corporate and Investment Bank in London, said a string of market deficits in the metal in recent years had slashed inventories.

"That means that the above-ground stocks that you had maybe 10 years ago and that you could have simply shifted from stocks at banks to stocks at the ETF, have been drawn down because of high physical demand from autocatalyst producers," he said.

"That makes it very challenging for them (Zurich Cantonal Bank)."

BAD TIMING

Second-ranking Impala Platinum Holdings Ltd said the Swiss bank's proposed launch came at bad time.

"Given the current market conditions, it's probably not the opportune time to launch a product like this because it's just going to put further upward pressure on the price," said Bob Gilmour, manager of investor relations.

"In the longer term, this is not what you want for demand because it causes attempts at substitution."

Gilmour said Implats had very little metal available for the spot market. "All our metal is basically on long-term contracts, 90 percent plus," he said.

The platinum market is very different from gold, where tonnes of metal bought for investment purposes or by central banks sit in vaults available for lending.

Platinum is in high demand for use in auto catalytic converters that clean pollution from exhaust and is also popular in jewellery. The jewellery sector is very price sensitive and is the main area that suffers weak demand when prices rise.

Jewellery demand for platinum was due to fall by 11 percent to 1.74 million ounces last year due to higher prices, precious metals refiner Johnson Matthey said in a report in November.

Spot platinum touched a record peak of $1,395 per ounce last November and was bid at $1,265 on Tuesday.

South Africa's Anglo Platinum Ltd, majority owned by mining giant Anglo American Plc, accounts for around 40 percent of global platinum production.

Implats accounts for nearly another 30 percent of world platinum supply from its mines and refining operations.

© Reuters 2007

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bid888 17 years ago

Company seeks to drill test holes in Beartooth Mountains
AP Feb 23
BOZEMAN, Mont. (AP) - A Canadian company wants to drill about 30 test holes high in the Beartooth Mountains to get a better look at platinum and rhodium deposits it has found there.

The holes would be drilled on the East Boulder Plateau between Big Timber and Nye.

The Stillwater Mining Co. operates two mines in the area and reportedly is the only producer of platinum and palladium in the United States.

The Beartooth Platinum Corp. has unpatented mining claims on about 16,000 acres surrounding the Stillwater holdings. It has been drilling in the area for a couple of years and wants to expand its work.

"It looks like we may have a parallel reef" of minerals, BPC President Mike Johnson told the Bozeman Daily Chronicle on Thursday from Toronto .

The company drilled 11 holes last year, and the results were promising, Johnson said. It would like to drill another 30 or so holes this summer.

The drilling would take place on both the Gallatin and Custer national forests.

Dan Seifert, a Custer geologist, said Thursday that BPC has a good track record.

"They end up being a pretty tight operation," he said. "We haven't had any problems the last couple years."

The U.S. Forest Service is seeking public comment on the drilling proposal. The agency would require that drilling take place well away from streams, and that crews follow all food storage and garbage handling rules to avoid problems with grizzly bears.

Drilling rigs would be flown to the sites by helicopters, and no new roads will be built. All drilled areas would be reclaimed immediately.

Johnson said it could take five or more years to tell if the deposits are economically recoverable, and added that it took 20 years of preparation before Stillwater began production.

"The geology is quite complex up there," he said.

If the deposits appear to be profitable, BPC likely would sell the project to a larger company, Johnson said.

In addition to platinum , the company has uncovered significant amounts of rhodium, an expensive metal used mostly to harden alloys but that also has jewelry applications.

Forest Service officials aren't likely to write a formal environmental assessment, Seifert said. Instead, they probably will use an administrative mechanism known as a "categorical exclusion," because the impacts of the drilling "would be pretty minimal."

Drilling could start as early as May 1, and is expected to be completed by the end of the summer. Public comments are due by March 23.

Information from: Bozeman Daily Chronicle

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McBeanburger 18 years ago

some more Benton - i own some.

Wed Oct 4, 2006
BENTON (BTC) RECEIVES FURTHER ENCOURAGING RESULTS OF PLATINUM, PALLADIUM AND GOLD FROM AREA 41 ZONE.

--------------------------------------------------------------------------------

Thunder Bay, Ontario: Benton Resources Corp. (the "Company") is pleased to provide more results from this summer's trenching program at the west end of the Bermuda project, located 20km northwest of the town of Marathon, Ontario.

Surface trenching has been carried out intermittently over a strike length of approximately 3km near Sally and Wullie Lake. Benton recently released favorable results from several new zones, including assays from Trench O on the new zone named Area 41, which returned grades of 1.09 gpt Pt+Pd+Au (Platinum+Palladium+Gold) and 0.17% copper over 68 metres from channel sampling. Several 1 metres samples graded better than 5 gpt Pt+Pd+Au. Benton has now received additional results from Area 41 that further support the continuity of the zone. Results from Trench R, located 700 meters to the east of Trench O, included 1.9 gpt Pt+Pd+Au and 0.15% Cu over 13 metres with higher grades of 4.33 gpt Pt+Pd+Au over 4.0 metres and 10.08 gpt Pt+Pd+Au over 1.0 metres. The zone has now been traced through sporadic trenching over a 1.1 km strike length.

Benton's management believes these results continue to support the fact that the very large Coldwell Complex may host several sizeable platinum group element and base metal deposits, including the Marathon deposit located 15 km to the southeast which currently has a 2.1 million ounce Pt+Pd+Au resource (MAR PR March 29, 2006). Benton controls approximately 17 km strike length in the Coldwell Complex and exploration completed to date has identified multiple showings of platinum, palladium, gold, copper, nickel and cobalt intermittently along the entire strike length of the property.

The Company is currently negotiating with a diamond drill contractor to begin a drilling campaign as soon as the drill is available. The drill program will be designed to test these new PGE zones over a three kilometre strike length as well as to test the newly discovered copper-nickel-cobalt zone which returned channel samples grading 1.08% copper, 0.36% nickel and 0.09% cobalt and 0.44gpt Pt+Pd+Au over 7 metres, and including 1.81% copper, 0.60% nickel 0.12% cobalt and 0.64 gpt Pt+Pd+Au over 3 metres. This new copper-nickel-cobalt zone may represent the highest base metal grades that have been obtained from the Coldwell Complex. Results and maps of the channel sampling will be posted on the Company's web site.

The Company would also like to invite investors to view a video presentation produced by Business Television which covers Benton. The presentation is available on the home page of the Company's web site at www.bentonresources.ca and is posted under Corporate Video.

Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.

On behalf of the Board of Directors of Benton Resources Corp.
"Stephen Stares"
Stephen Stares, President

THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward- looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.

For further information contact Stephen Stares
3290 Willard Ave
Thunder Bay, Ontario, P7E 6J7
Phone (807) 475-7474
Fax (807) 475-7200
www.bentonresources.ca

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Tackler 18 years ago

Benton samples 68 m of 1.09 g/t PPG at Area 41

2006-09-19 10:49 ET - News Release

Mr. Stephen Stares reports

BENTON (BTC) DISCOVERS LARGE ZONES OF PLATINUM, PALLADIUM AND GOLD AND NEW COPPER-NICKEL ZONE

Benton Resources Corp. is providing an update on its trenching program at the west end of the Bermuda project, located 20 kilometres northwest of the town of Marathon, Ont.

Surface trenching has been carried out intermittently over a strike length of approximately three kilometres near Sally and Wullie Lake and results received to date are very positive. Channel sampling at Area 41, located between the Sally and Wullie Lake deposits, has uncovered large zones of platinum-palladium-gold (TPM) grading up to 1.09 grams per tonne TPM (0.09 gram per tonne gold, 0.29 gram per tonne platinum, 0.71 gram per tonne palladium) with 0.17 per cent copper over 68 metres. The interval includes numerous one-metre samples grading better than five grams per tonne TPM. The company is extremely pleased with the results as they show similar grades and widths to that of the Marathon deposit located 15 kilometres to the southeast, which has a 2.1-million-ounce-TPM resource (Marathon PGM PR Feb. 2, 2006). This new discovery may represent a second large PGE and copper deposit discovered in the Coldwell complex.

In addition to the new PGE zones, the company has discovered a significant new copper-nickel-cobalt zone grading 1.08 per cent copper, 0.36 per cent nickel and 0.09 per cent cobalt with 0.44 gram per tonne TPM over seven metres, including 1.81 per cent copper, 0.6 per cent nickel 0.12 per cent cobalt and 0.64 grams per tonne TPM over three metres. This new base-metal zone may represent the highest copper-nickel-cobalt that has been obtained from the Coldwell complex and the company is continuing to evaluate this important new discovery. As the company waits for further assay results from the trenching program, line cutting, geological mapping and a ground magnetic survey are under way. A diamond drill program in this newly discovered mineralized area is scheduled to begin before the end of the year. Assay results will be released as they are received and maps of the channel sampling will be posted on the company's website after compilation of the results.

Clinton Barr (PGeo), vice-president, exploration, for Benton Resources Corp., is the qualified person responsible for this release.

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NYBob 18 years ago

Caledonia Mining Corporation - PM Producer -

Caledonia Mining Corporation -

Exploration, development and mining company -
Caledonia Mining is hoping to find an open-pit mine -
at its latest land acquisition in the Bushveld, -
CEO and president Stefan Hayden tells -
Mining Weekly Online -

http://www.miningweekly.co.za/min/sector/platinum/?show=82648

http://www.caledoniamining.com/

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kraftdinner 18 years ago

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Ed Monton 18 years ago

Beartooth Platinum Corporation Announces Option Agreement On South African Platinum Property

TORONTO, ONTARIO--(CCNMatthews - Jan. 13, 2006) -

Conference Call Scheduled for January 17, 2006

Beartooth Platinum Corporation (TSX VENTURE:BTP) announced today that the Company has signed an option agreement to acquire a 70% interest in Desert Charm Trading 189 (Pty) Ltd. Desert Charm owns and controls approximately 27,000 hectares along a potential platinum reef, immediately to the west of Lonmin's Limpopo Division, in the Limpopo region of South Africa. (A map of the project area is included in this press release and also located on the Beartooth website: www.beartoothplatinum.com). Desert Charm's property could contain up to 10 Kilometers of both the Merensky and UG2 Reefs, the two primary platinum and palladium producing reefs in South Africa.

Preliminary geophysical interpretative data indicates that a magnetite bearing horizon, associated with the Bushveld Complex, which contains both the Merensky and UG2 Reefs, is present. In addition, historic drilling of the Limpopo property, indicate reef bearing horizons in drill holes located within 150 meters of the Desert Charm Property. Lonmin's Limpopo Division consists of four project areas: Voorspoed, Doornvlei, Zebediela and Kafferskrall East. Lonmin is expanding production at the Voorspoed Operation to 75,000 ounces of platinum per annum by 2007. Lonmin is also conducting a feasilibility on the Doornvlei Property.

Beartooth has paid Desert Charm US$50,000 for a 90 day, exclusive, due-diligence period. If the due diligence is successful, Beartooth will pay Desert Charm US$950,000 and will enter into a formal joint-venture agreement with Desert Charm for a 70% interest. Beartooth will then undertake to fund up to US$5 million over a three year period to explore and develop the joint-venture property.

During the due diligence period, Beartooth will drill to intercept the potential on-strike continuation of the Bushveld Merensky and UG2 mineralization. A drill rig has been mobilized to the site and drilling is expected to commence next week. In this area, the Bushveld, Merensky and UG2 Reefs are covered with up to 500 meters of younger basalts. It is anticipated that we should be through this basalt unit by the end of January.

Michael D. Johnson, Beartooth's President and CEO, stated: "This transaction has the potential to significantly increase Beartooth's portfolio of world-class platinum group metal exploration projects and expand the Company's project development efforts into the prolific Bushveld Complex in South Africa. In addition to our exciting property in the Stillwater Complex in Montana, USA, the acquisition of Desert Charm has the potential to make Beartooth into a world class PGM company."

Corporate Update Conference Call

Michael D. Johnson will host a conference call on Tuesday, 17 January, 2006, at 11:00 AM Eastern Standard Time, to discuss both the South African and Stillwater projects and answer any questions.

Live Conference Call Information: ---------------------------------
Date: Tuesday, 17 January, 2006 Time: 11:00 AM Eastern Standard Time Local Callers Tel.: (416) 695-9753 North American Callers: 1-888-789-0150 International Callers: (416) 695-9753

About Beartooth Platinum Corporation

Beartooth controls 825 unpatented lode mineral claims over the exposed 50 kilometer strike length of the Stillwater Complex, North America's largest known resource of PGE's where Stillwater Mining Company (SMC) operates two mines from the J-M Reef. Beartooth's mineral claims are contiguous with these significant resource properties. Additional information about the Company and its properties is available on the Company's website at www.beartoothplatinum.com.

If you would like to receive press releases via email please contact ana@chfir.com

Please specify "Beartooth press releases" in the subject line.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

Please note: Maps are available on CCNMatthews' website at the following link:

http://www.ccnmatthews.com/docs/btp0113.pdf

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Ed Monton 18 years ago

MAR

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Ed Monton 18 years ago

Marathon PGM Corporation Announces Final Drilling Results in the Malachite Zone Including 16 m Grading 9.48 g/t PGM +Gold and 0.36 % Copper

TORONTO, ONTARIO--(CCNMatthews - Jan. 9, 2006) - Marathon PGM Corporation (TSX VENTURE:MAR) ("the Company") is pleased to announce assay results of the final 11 drill holes from the Company's 2005 exploration program.

Three of the eleven holes were drilled in the southern end of the Malachite zone. Holes M-05-124, 125 and 126 were drilled at shallow angles over three steeply dipping holes drilled in 2004. All the mineralization intersected in these holes is within 50 m of surface. The best grade intersection is in M-05-126 which has 64 m grading 2.04 g/t pgm and gold as well as 0.30 % copper. The 2005 drilling program has defined a lens approximately 120 m long and averaging 45 m thick dipping steeply to the west. The grades of pgm and copper as well as the thicknesses indicate that the lens plunges to the southwest. It is evident from these results that additional drilling will be required in the southern part of the Malachite Zone in 2006.

The other eight holes were drilled in the north end of the Malachite Zone. The best intercept was in M-05-128 with 16 m grading 9.48 g/t pgm and gold and 0.36 % copper. A similar grade intercept in drill hole M-05-130 of 8 m grading 9.06 g/t pgm and gold and 0.17 % copper is part of the same high grade zone that was intersected earlier in the program by M-05-58 with 10 m grading 8.83 g/t pgm and gold and 0.12% copper. This zone is still open as are the lower grade pgm and copper zones usually found 10 to 30 m beneath the high grade zone. The mineralization in the north end of the Malachite Zone also seems to plunge to the southwest. Further drilling is required in 2006 to further define the mineralization. Malachite Zone is still open to the north and will be a drilling target in 2006.

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Ed Monton 18 years ago

Marathon PGM provides 2005 results for BR, Main zones

2006-01-04 18:26 ET - News Release

Mr. Phillip Walford reports

MARATHON PGM CORPORATION ANNOUNCES FINAL DRILLING RESULTS IN MAIN AND BR ZONES, INCLUDING 2 M GRADING 27.35 G/T PGM +GOLD AND 0.09 % COPPER

Marathon PGM Corp. is providing assay results of 12 additional drill holes from the company's recently completed 2005 exploration program. The drilling results reported in this press release include the last three holes drilled in the Main zone and the last nine holes drilled in the BR zone.

Drill holes M-05-110 and 111 were drilled in the northern half of the Main zone in order to raise inferred resource material to indicated. Hole M-05-110 intersected expected grades and thicknesses, but M-05-111, which encountered an upper-higher-grade zone grading 3.64 grams per tonne platinum group minerals and gold as well as 0.52 per cent copper, extended a previously identified high-grade zone 30 metres along strike and 60 metres down dip. M-05-114 was a step-out hole in the Southern Resource zone that had only anomalous values. It is evident from these results that additional drilling will be required in the Main zone in 2006.

The BR zone holes were step-out holes for the most part, tracing the zone to the north and west. Drill hole M-05-117 is important as it extends the zone an additional 50 metres to the north and seems to be picking up increasing copper grades to the north. The 400 metres between the South Resource and BR has had little exploration to date, but five widely spaced holes drilled by Anaconda all had values in them, making this area a target for drilling in 2006.

Most of the BR zone drill holes intersected an upper zone of high-grade platinum group minerals and a lower copper zone. Drill holes M-05-122 and 123 were drilled in the south of the BR zone where it meets the Malachite zone. These holes have almost the same collar locations but were drilled at different angles and both intersected high-grade platinum group minerals. M-05-122 had the best intersection of 5.6 metres grading 9.08 g/t platinum group minerals and gold, and 0.07 per cent copper. This intersection included two metres grading 27.35 g/t platinum group minerals and gold and 0.09 per cent copper. The mineralizaton is near surface and appears to be a continuation of the high-grade zone intersected in M-05-52. The BR zone is still open to the west and will require more drilling in 2006.

DRILL RESULTS

Hole Int. Pd Pt Au
(m) (g/t) (g/t) (g/t)
Main zone

M-05-110 12.0 1.41 0.46 0.14
10.0 0.18 0.04 0.04

M-05-111 46.0 1.09 0.31 0.15
Incl. 16.0 2.54 0.79 0.31

M-05-114 No significant values

BR zone

M-05-115 8.0 0.84 0.44 0.06
16.0 0.24 0.13 0.07

M-05-116 22.0 0.74 0.32 0.07

M-05-117 16.0 0.45 0.19 0.06
8.0 0.41 0.11 0.07

M-05-118 4.0 1.92 0.90 0.04
4.0 0.57 0.35 0.22
8.0 0.25 0.12 0.05

M-05-119 26.0 0.84 0.43 0.08
Incl. 12.0 1.74 0.86 0.14

M-05-120 4.0 2.16 0.92 0.15
12.0 0.15 0.11 0.05

M-05-121 22.0 0.71 0.25 0.08
34.0 0.19 0.07 0.04

M-05-122 7.3 7.20 0.93 0.95
Incl. 2.0 24.00 2.5 0.85
22.0 0.62 0.28 0.05

M-05-123 12.0 4.12 1.32 0.17
12.0 0.21 0.02 0.03

Total
PGm
Hole Int. +Au Cu
(m) (g/t) (%)
Main zone

M-05-110 12.0 2.01 0.27
10.0 0.26 0.19

M-05-111 46.0 1.55 0.19
Incl. 16.0 3.64 0.52

M-05-114 No significant values

BR zone

M-05-115 8.0 1.34 0.03
16.0 0.44 0.13

M-05-116 22.0 1.13 0.10

M-05-117 16.0 0.70 0.03
8.0 0.59 0.23

M-05-118 4.0 2.86 0.02
4.0 1.14 0.08
8.0 0.42 0.12

M-05-119 26.0 1.35 0.07
Incl. 12.0 2.74 0.08

M-05-120 4.0 3.23 0.11
12.0 0.31 0.08

M-05-121 22.0 1.04 0.11
34.0 0.30 0.18

M-05-122 7.3 9.08 0.07
Incl. 2.0 27.35 0.09
22.0 0.95 0.09

M-05-123 12.0 5.61 0.10
12.0 0.26 0.12

........

The company has 11 additional drill holes remaining to report from the 2005 exploration program. These are all from the Malachite zone. The company expects to complete a new resource estimation for all the zones early in the first quarter of 2006.

All exploration work is being performed under the guidance and supervision of Phillip C. Walford, president and chief executive officer of the company, a professional geologist and qualified person as defined by National Instrument 43-101. All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ont., to be assayed. Further company information may be found on the company's website.

In other news, the company appointed James Kirke, a vice-president of the company, as chief financial officer, vice-president of finance and corporate secretary. Mr. Kirke's appointment takes effect immediately.

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kraftdinner 18 years ago

Benton cuts 3.11 g/t tpm over 11.6 m at Bermuda/Bamoos

2005-12-21 08:32 MT - News Release

Mr. Stephen Stares reports

BENTON INTERSECTS 3.11 GRAMS OVER 11.6 METRES ALONG STRIKE OF MARATHON DEPOSIT.

Benton Resources Corp. has released the results for a further five diamond drill holes on its Bermuda/Bamoos property. The results continue to show that the large system of PGE (platinum group elements) and copper mineralization defined on the Marathon deposit to the south continues northward onto the Bermuda/Bamoos property. The five holes, BO-05-06 to BO-05-10 inclusive, were drilled approximately 450 to 600 metres north along strike from the Marathon deposit. The best intersection was returned from drill hole BO-05-06, which undercut previously released BO-05-05. Hole BO-05-06 cut two zones of precious metal and copper mineralization with the upper zone grading 2.01 grams per tonne of total precious metals and 0.15 per cent copper over 6.1 metres, followed further downhole by a second higher-grade zone of 3.11 grams per tonne of total precious metals and 0.41 per cent copper over 11.6 metres. This lower intersection includes 8.66 grams per tonne of total precious metals and 0.38 per cent copper over 1.0 metre. The zones are open at depth and along strike.

A table of holes BO-06-05 to BO-05-10 inclusive is listed below.

Hole From To Width Au Pt
m m m gpt gpt

BO-05-06 7.5 13.6 6.1 0.11 0.35
and 64.0 75.6 11.6 0.22 0.57
Incl. 74.6 75.6 1.0 0.47 1.86
BO-05-07 79.8 88.8 9.0 0.07 0.14
Incl. 85.6 88.8 3.2 0.11 0.25
BO-05-08 71.3 102.7 31.5 0.05 0.23
Incl. 73.3 79.4 6.1 0.09 0.58
BO-05-09 98.2 107.5 9.3 0.17 0.40
BO-05-10 33.6 44.4 10.8 0.16 0.44

Continued ...

Hole From To Pd tpm Cu
m m gpt gpt %

BO-05-06 7.5 13.6 1.55 2.01 0.18
and 64.0 75.6 2.32 3.11 0.41
Incl. 74.6 75.6 6.33 8.66 0.38
BO-05-07 79.8 88.8 0.59 0.80 0.21
Incl. 85.6 88.8 1.03 1.39 0.07
BO-05-08 71.3 102.7 0.80 1.08 0.05
Incl. 73.3 79.4 1.41 2.08 0.08
BO-05-09 98.2 107.5 1.81 2.38 0.24
BO-05-10 33.6 44.4 1.69 2.29 0.53

Benton currently has 19 holes completed on the Bamoos option and six new holes completed on the Four Dam Lake zone. Previous drilling at Four Dam Lake intersected 0.67 per cent copper over 65 metres with anomalous platinum group elements, nickel, cobalt and silver. The drill has been stopped for Christmas break and the company will resume in January. Benton is very pleased with the success of the first 10 holes for which it has received assays. The intersections continue to show good grades and widths in this very early stage of exploration. Benton has identified surface PGE and Cu mineralization along a strike length of 17 kilometres at the Bermuda/Bamoos project. The Marathon deposit has been drill defined to the boundary of the Bermuda property and currently has a drill delineated resource of 1.9 million ounces of PGEs and 290 million pounds of copper (see news issued in Stockwatch March 30, 2005).

Benton expects assay results from additional holes over the next several weeks. All samples were submitted to Accurassay Laboratories in Thunder Bay, Ont.

Additionally, Benton is pleased to announce that the Windward Agency Corp. has been retained by the company to provide global investor relations services. Windward is a consulting company based in Charlotte, N.C., that specializes in expanding investor awareness for mining and energy based companies in North America and Europe. Windward will assist with introductions into strategic financial markets as well as enhancing communication efforts designed to improve overall communications within existing shareholder bases.

Windward will consult to the company on a month-to-month basis for an all-inclusive cash fee of $5,000 (U.S.) per month. The arrangement may be terminated by the company on 14 days notice in writing. Windward currently has no direct or indirect interest in the company nor does it have any rights to acquire an interest at a later date.

Clinton Barr, PGeo, vice-president of exploration for Benton Resources Corp., is the qualified person responsible for this release.

We seek Safe Harbor.

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kraftdinner 18 years ago

Benton intersects 4.97 g/t TPM and 0.5% Cu over 3.4 m

2005-12-01 13:57 MT - News Release

Mr. Stephen Stares reports

BENTON FIND WIDE ZONES OF PGM'S AND COPPER ON BERMUDA 400 METRES NORTH OF MARATHON DEPOSIT

Benton Resources Corp. has received assay results from the first five diamond drill holes on its Bermuda-Bamoos property. The results show that the large local system of platinum group elements (PGE) and copper mineralization defined on the Marathon deposit to the south definitely continues northward onto the Bermuda-Bamoos property. Four holes, BO-05-01 to BO-05-04, were drilled approximately 50 metres north along strike from the Marathon deposit, with the best intersection coming from hole BO-05-04, which intersected 1.74 grams per tonne total precious metals (TPM) over 29.3 metres with 0.28 per cent copper, including 4.97 grams per tonne TPM and 0.5 per cent copper over 3.4 metres.

Benton Management believes that the most significant intersection from these first five holes comes from drill hole BO-05-05, which was drilled approximately 450 metres north of the Marathon deposit. Drill hole BO-05-05 cut multiple zones over very large widths, including 1.55 grams per tonne TPM over 8.4 metres with 0.16 per cent copper. A second zone assayed 0.62 gram per tonne TPM with 0.17 per cent copper over 10.3 metres. A third zone graded 0.49 gram per tonne TPM and 0.19 per cent copper over 177.5 metres, including 1.16 grams per tonne TPM and 0.43 per cent copper over 41.5 metres. Drill hole BO-05-05 is a very important discovery for the company, as it confirms that large PGE and copper zones are present at least 450 metres to the north and along strike from the Marathon deposit.

Benton currently has 19 holes completed and is very pleased with the success of the first few holes for which it has received assays. The intersections are comparable to the drilling results from Marathon PGM Corp.'s (MAR) Marathon deposit that has been drill defined to the boundary of the Bermuda property. Benton has identified surface PGE and copper mineralization along a strike length of 17 kilometres at Bermuda and Bamoos. The company will continue its extensive drill program well into 2006 in an effort to further outline PGE mineralization north of the Marathon deposit. The Marathon deposit currently has a drill delineated resource of 1.9 million ounces PGEs and 290 million pounds of copper (see Stockwatch news on Marathon, March 30, 2005).

Benton expects results from additional holes within the next two weeks. All samples were submitted to Accurassay Laboratories in Thunder Bay, Ont.

Tables of the first five holes is listed below.

HOLE From To Width Au Pt Pd
No. (m) (gp/t)

BO-05
-01 1.5 8.6 7.1 0.07 0.18 0.60
24.7 37.5 12.8 0.06 0.14 0.51
incl. 34.0 37.5 3.5 0.11 0.27 1.1
41.9 47.5 5.6 0.11 0.26 0.91

BO-05
-02 0.5 47.5 47.0 0.07 0.17 0.38
incl. 2.5 7.6 5.1 0.18 0.61 1.13

BO-05
-03 Volc. nsv nsv nsv

BO-05
-04 3.0 32.3 29.3 0.12 0.32 1.30
incl. 19.8 23.2 3.4 0.33 0.75 3.89

BO-05
-05 5.3 13.7 8.4 0.10 0.25 1.20
20.9 31.2 10.3 0.08 0.11 0.43
63.25 240.8 177.5 0.053 0.08 0.35
incl. 63.25 104.7 41.5 0.13 0.17 0.86
Incl. 70.1 89.9 18.8 0.19 0.25 1.23

HOLE From To Width TPM Cu
No. (m) (g/t) (%)

BO-05
-01 1.5 8.6 7.1 0.85 0.40
24.7 37.5 12.8 0.71 0.27
incl. 34.0 37.5 3.5 1.38 0.53
41.9 47.5 5.6 1.3 0.33

BO-05
-02 0.5 47.5 47.0 0.62 0.26
incl. 2.5 7.6 5.1 1.92 0.37

BO-05
-03 Volc. nsv nsv

BO-05
-04 3.0 32.3 29.3 1.74 0.28
incl. 19.8 23.2 3.4 4.97 0.50

BO-05
-05 5.3 13.7 8.4 1.55 0.16
20.9 31.2 10.3 0.62 0.17
63.25 240.8 177.5 0.49 0.19
incl. 63.25 104.7 41.5 1.16 0.43
incl. 70.1 89.9 18.8 1.67 0.54

Clinton Barr, PGeo, vice-president exploration for Benton Resources Corp., is the qualified person responsible for this release.

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Ed Monton 18 years ago

Beartooth Platinum Corporation Announces Positive Results from 2005 Field Season at Stillwater Complex

TORONTO, ONTARIO--(CCNMatthews - Dec. 1, 2005) - Beartooth Platinum Corporation (TSX VENTURE:BTP) is pleased to announce results from their 2005 field program at the Company's Stillwater Property, located in southwestern Montana, USA. The Stillwater property consists of 825 mining claims totaling approximately 14,000 acres.

During Beartooth's first holistic evaluation of their Stillwater Property, with claims that lie contiguously with the Stillwater Mining Company's producing platinum and palladium mines, BTP has started to produce very positive results.

Results of the 2005 data compilation program indicated that a zone called the A and B Chromitite Horizon had been seriously under explored. One hole, drilled previously by other exploration groups in the B Chromitite zone, intersected 3 feet grading 17g/t (0.55 ounces per ton) Pt + Pd +Au from the B chromitite zone, and previous, arbitrary, surface samples returned grades up to 112 g/t (3.60 ounces per ton) Pt + Pd + Au.

Follow up soil sampling and geologic mapping during the 2005 field season has extended the A and B chromitite horizon, continuously for over 5 kilometers (15,800 feet) on Beartooth controlled claims.

Preliminary geochemical studies indicate that the A & B Chromitite zone is similar to the UG2 horizion of the Bushveld Complex in South Africa. Currently four Bushveld Companies: Implats, Amplats, Lonmin and Aquarius, are producing approximately 62% of their ore from the UG2 horizon.

In addition, Mr. Mike Johnson, President and CEO of Beartooth said "A preliminary review of the available data for the chromitite-associated mineralization indicates an average Pd to Pt ratio of 1:8, making these units Pt-rich in comparison to the better known J-M reef of the Stillwater Complex."

In the Fishtail Creek target zone, geophysical surveys indicate that the area contains several profiles similar to those generated at the outcropping JM Reef. However, the magnitude of these profiles is less than the profiles over outcropping JM Reef. Consequently, the depth to the Stillwater complex is unknown. However, early snows in the Fishtail Creek target area terminated the drill program before Stillwater Complex rocks were intercepted. Currently, we are using oil and gas field technology to reinterpret the geophysics to determine the depth of the Stillwater complex. We will resume drilling at the beginning of the next field season.

As the 2005 summer field program winds down, plans for a significant drilling program on the property are being formulated for the 2006 field season. Initially it is anticipated that multiple drill rigs will be employed to develop a potential resource within the A & B Chromitite horizon.

The Company expects to release further results as they become available.

About Beartooth Platinum Corporation

Beartooth controls 825 unpatented lode mineral claims over the exposed 50 kilometre strike length of the Stillwater Complex, North America's largest known resource of PGE's where there are two operating mines of the Stillwater Mining Company (SMC) from the J-M Reef. Beartooth's mineral claims are contiguous with these significant resource properties. Additional information about the Company and its properties is available on the Company's website at www.beartoothplatinum.com.

If you would like to receive press releases via email please contact ana@chfir.com. Please specify "Beartooth press releases" in the subject line.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

👍️0

Rocketred 18 years ago

Suppose to have news next week all I know

👍️0

Ed Monton 18 years ago

Nice move. Whats the rumour ?

👍️0

Rocketred 18 years ago

BTP news out next week mega volumes today

👍️0

Ed Monton 18 years ago

Benton grab sample assays 12 g/t Pt-Pd-Au at Bermuda

2005-11-14 13:47 ET - News Release

Mr. Stephen Stares reports

BENTON RESOURCES CORP (BTC) ANNOUNCES HIGHEST GRADE TO DATE ON BERMUDA PROJECT

Benton Resources Corp. has received assays from recent trenching and surface sampling at the company's Bermuda property. A grab sample from an area approximately one kilometre north of the Marathon deposit assayed 12 grams per tonne platinum-palladium-gold, combined (5.16 grams per tonne (g/t) Pt, 5.14 g/t Pd and 1.7 g/t Au), along with 0.54 per cent copper. This is the highest-grading sample ever collected from the project. Of particular interest is the 1:1 platinum-to-palladium ratio, a relationship typically noted in higher grading material. Trenching and follow-up drilling are currently being planned for this promising new discovery.

Trenching completed on other parts of the property 650 metres north of the Marathon deposit has uncovered large surficial areas with considerable amounts of pyrrhotite and chalcopyrite in Two Duck gabbro, the same gabbro which is host to the Marathon PGE-Cu deposit. An area measuring approximately 60 metres north-south by 170 metres east-west had a total of 20 grab samples collected and assayed, the average grade of which was 1.83 g/t Pt-Pd-Au and 0.59 per cent Cu. To date, four diamond drill holes have been completed in this area (BO-05-07 to BO-05-10 inclusive). Diamond drill holes BO-05-01 to BO-05-06 were drilled farther south under known surface mineralization and closer to the Marathon deposit. Core samples for those six holes have been submitted for analyses and results should be received shortly.

The trenching program at Bermuda was designed to expose favourable areas north of the Marathon deposit and to give the company a better understanding of the property geology. The program has proven to be extremely effective in uncovering several mineralized areas with significant amounts of Pt, Pd, Au and Cu. The company has now intermittently exposed mineralized Two Duck gabbro along a 1.6-kilometre strike length to the north. Benton's current drill program will continue until freeze-up. All samples were sent to Accurassay Laboratories in Thunder Bay, Ont.

Clinton Barr (PGeo), vice-president, exploration, for Benton Resources, is the qualified person responsible for this release.

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fringe_remnant 19 years ago

BTP.V

See anything ya like?

.

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kraftdinner 19 years ago

Wallbridge sets Nov. 15 as special warrant record date

2005-10-04 04:48 MT - News Release

Mr. Douglas Hunter reports

WALLBRIDGE ANNOUNCES RECORD DATE FOR SPECIAL WARRANT DIVIDEND FOR WALLBRIDGE AMERICA LIMITED

Wallbridge Mining Company Ltd. is selecting the record date of Nov. 15, 2005, for issuance of a special warrant dividend to shareholders of record on that date. On Nov. 15, 2005, the company will distribute to its shareholders, special warrants of Wallbridge America Limited (WAL), a new company that will acquire all of Wallbridge's Minnesota exploration assets. Currently, Wallbridge's principal Minnesota exploration asset is the Maturi extension deposit, located in the Duluth complex in northeastern Minnesota. The Toronto Stock Exchange has conditionally accepted notice of the dividend-in-kind of the special warrants.

Under the terms of the plan, Wallbridge, as founder of Wallbridge America Ltd., will receive eight million preference shares of Wallbridge America Ltd. (WAL preference shares) convertible for no additional consideration into an equal number of WAL common shares for a two-year period, and the shareholders of Wallbridge will receive a dividend in kind of one special warrant of WAL (WAL special warrants) for every four shares of Wallbridge Mining Company Ltd. held as of Nov. 15, 2005. Following this transaction, WAL will acquire, from Wallbridge, all of the outstanding shares of the Wallbridge subsidiary that currently holds all of the company's Minnesota exploration assets. In exchange for the shares in this subsidiary, Wallbridge will receive two million WAL preference shares in exchange for the earlier proposed net smelter return royalty.

"We are very excited and pleased to be able to deliver real value to our existing Wallbridge shareholders by way of this new initiative," said Doug Hunter, vice-president of exploration.

Upon WAL completing a financing of at least $3-million, becoming a public company and obtaining a listing on a recognized stock exchange, each WAL special warrant will automatically convert into one common share of Wallbridge America Ltd. In the event that WAL does not complete the financing and listing within nine months of the special warrant distribution date, the WAL special warrants will expire and WAL will remain a wholly owned subsidiary of Wallbridge Mining Company Ltd.

Following the successful completion of this transaction, WAL will own assets comprising leases and prospecting permits covering approximately 820 hectares (2,050 acres) in the Duluth complex. The Duluth complex hosts over four billion tonnes of copper, nickel and PGE (platinum group element) mineralization and is one of the largest known undeveloped mineral resources in the world.

Immediate plans for WAL will be to complete a private placement financing, complete an initial public offering of its common shares and obtain a listing on the TSX Venture Exchange. The financing proceeds will be used to undertake an aggressive exploration program on the Minnesota property. WAL's goal is to establish a mineral resource for development for the Maturi extension deposit, which has the best grade characteristics of all known deposits in the Duluth complex. The first phase of work will consist of substantial infill drilling designed to substantiate the grade and extent of the deposit.

We seek Safe Harbor.

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kraftdinner 19 years ago

👍️0

Ed Monton 19 years ago

BTC

👍️0

kraftdinner 19 years ago

Benton given regulatory green light for Bamoos option

2005-10-12 10:21 MT - News Release

Mr. Stephen Stares reports

BENTON RESOURCES CORP. (TSX-V: BTC) GETS APPROVAL FOR GROUND DIRECTLY ADJACENT TO MARATHON PGM DEPOSIT AND MOBILIZES A DRILL RIG TO THE PROPERTY

Benton Resources Corp. has been given regulatory approval for its option agreement with Bamoos Minerals Inc. (an affiliate of Teck Cominco Ltd.). The option agreement allows Benton to purchase a 100-per-cent interest in one mining lease comprising 16 units. The lease is flanked by Benton's Bermuda property to the north and Marathon PGM Corp.'s property to the south. The Marathon Cu-PGE deposit has been delineated by diamond drilling up to the southern boundary of Benton's newly acquired lease and the potential to expand that deposit northward is considered high. To date, a total of 77 grab samples have been collected over an area measuring approximately 2,000 metres along strike by 500 metres wide with assays grading up to 6.3 grams per tonne TPM (Pd plus Pt plus Au, 4,907 parts per billion Pd, 1,093 Pt and 524 Au). Forty-seven of the samples assayed higher then one g/t TPM. Copper values assayed up to 0.95 per cent and silver up to 13 g/t. Data collected to date clearly indicate that the copper and PGE mineralization continues for at least two kilometres to the north. Benton is currently mobilizing a drill to the property to aggressively test the potential northern extension of the Marathon deposit, which has a resource estimate of 1.9 million ounces combined Pt plus Pd plus Au and 270 million pounds of copper (see Stockwatch on March 30, 2005).

Under the terms of the option agreement, Benton can earn a 100-per-cent interest (subject to a 2-per-cent net smelter royalty and a 50-per-cent back-in clause) by spending $400,000 in exploration expenditures over four years and issuing 300,000 units of Benton's stock to Bamoos Minerals Inc. Each unit will consist of one share and one warrant. The warrant will entitle Bamoos to purchase one common share of Benton at a price of 29 cents per share for a period of two years from issuance. The Benton shares and warrants comprised in the units will be subject to hold periods in accordance with the TSX Venture Exchange policy and Canadian Multilateral Instrument 45-102. In the event that Benton completes its obligations to earn 100-per-cent interest in the property, Bamoos Minerals Inc. would have the right to back-in to the property for a 50-per-cent interest by incurring two times the exploration expenditures spent by Benton up to a maximum of $1.5-million. A finder's fee of 25,000 shares is payable in respect to the option agreement.

Benton would also like to provide an update on progress at the Saganaga gold property, west of Thunder Bay, Ont. Mechanical trenching is exposing several new gold showings that have been found over the last week. Grab samples from these showings assayed up to 11 g/t gold and channel sampling of the new mineralization is currently in progress.

Assay results for both the Bermuda/Bamoos property and the Saganaga property will be released as they are received.

Clinton Barr (PGeo), vice-president, exploration, for Benton, is the qualified person responsible for this release.

We seek Safe Harbor.

👍️0

kraftdinner 19 years ago

BTC

Drilling expected to start first week of October.

👍️0

bid888 19 years ago

Nice charts guys. Thanks for posting them. Anyway, it looks like
we are breaking out of a base. The 50 day ma is pointing up and a break above 20 cents will start to attract serious attention.

Here is an interesting exercise. The 10 year weekly charts of BTP and UTS are very similar, except BTP has not broken out yet. I expect BTP to follow the same course as UTS.

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Tackler 19 years ago

PolyMet to buy Minnesota ore processing plant

2005-09-14 10:28 ET - News Release

Mr. William Murray reports

POLYMET TO GAIN OWNERSHIP OF MINNESOTA ORE PROCESSING FACILITIES

PolyMet Mining Corp.'s Minnesota subsidiary has reached agreement in principle with Cliffs Erie, LLC, a subsidiary of Cleveland Cliffs, Inc. (NYSE: CLF), on the terms for the early exercise of PolyMet's option to acquire 100-per-cent ownership of large portions of the former LTV Steel Mining Company ore processing plant in northeastern Minnesota.

Both companies have approved the transaction which is scheduled for closing before year-end. Upon the closing, assets specified in the agreement will be conveyed to PolyMet for commercial development of Minnesota's first major non-ferrous mining operation. PolyMet will convert the idled facility for base and precious metals production using material from the nearby NorthMet polymetallic deposit.

The asset acquisition agreement announced today provides that PolyMet will pay Cleveland Cliffs, Inc. a total of $8-million (U.S.) through a combination of cash and issuance of 6,200,547 common shares of PolyMet. PolyMet will also assume from Cliffs, certain continuing site-related environmental and reclamation obligations.

The well-preserved assets being purchased by PolyMet include crushing, milling and flotation capacity, buildings, real estate, tailings impoundments, shops, spare parts, and other related infrastructure at the world-class complex near Hoyt Lakes, Minn.

"Redeploying these valuable taconite plant assets affords a rare opportunity to sharply reduce project development costs while creating new employment opportunities in an area still recovering from the traumatic LTV plant closure," said William Murray, PolyMet's president and chief executive officer.

"Early exercise of our purchase option represents yet another milestone in our determined effort to begin unlocking the value of Minnesota's well-known base and precious metals deposits along the eastern Iron Range," Mr. Murray said.

The project will produce copper, nickel, cobalt, platinum group metals and gold. Commercial operations at the site are planned to commence in 2008 with capital costs estimated between $235 (U.S.) and $250-million (U.S.). Acquisition of the Cliffs Erie plant assets will save PolyMet in excess of $200-million (U.S.) in capital costs.

"This project is among the very few worldwide that is poised to rapidly come on-line to help meet burgeoning global demand for base and precious metals that we all need and use every day," said Mr. Murray.

Upon closing of the asset sale, Cliffs will hold 7.2 million common shares in the capital of PolyMet, representing approximately 8 per cent of the issued shares in PolyMet based on the currently outstanding 83.4 million shares. Cliffs will have the right to participate on a pro rata basis in future cash equity financings.

The NorthMet project is currently undergoing state and federal environmental review and permitting that will involve preparation of an environmental impact statement. The proposed mine is located adjacent to active taconite mining operations within a well-established mining district.

PolyMet will refurbish and reactivate crushing, concentrating, flotation and tailings facilities at the former LTV Steel Mining Company site to produce a fine concentrate that will feed new hydrometallurgical processing facilities; a process that is dramatically cleaner than traditional smelting and extremely energy efficient.

PolyMet's water-based, pressure oxidation process will use conventional autoclaves to extract copper, nickel, cobalt and platinum group metals from NorthMet concentrates. High purity copper cathode will be produced on-site through solvent extraction and electrowinning, while precious metals (gold, platinum and palladium) and nickel and cobalt will be sent to refineries elsewhere for final processing.

Ed Monton 19 years ago

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