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Prime Grp. Realty Tr

Prime Grp. Realty Tr (PGE)

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PGE Discussion

View Posts
Monroe1 Monroe1 6 years ago
So ewallman, is this recent news here on Ihub about PGE the same PGE for this Novawest? New name, same exploration group??
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ewallman ewallman 20 years ago
Well, I have followed Novawest since 1995 or so. These recent results are very disappointing given the wmount of time, effort and money it has taken to actually get to the drilling stage.
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Tackler Tackler 20 years ago
NovaWest et al. hire Aeroquest for True North survey

2004-08-24 12:47 ET - News Release

Also News Release (C-CJ) Cascadia International Resources Inc (3)
Also News Release (C-MNL) Minera Capital Corp

Mr. Patrick O'Brien of NovaWest reports

EXPLORATION FOLLOW-UP - AIRBORNE SURVEY SCHEDULED

NovaWest Resources Inc., Cascadia International Resources Inc. and Minera Capital Corp. have contracted Aeroquest Ltd. to undertake a 1,246-line-kilometre deep-penetrating, helicopter-airborne electromagnetic and magnetic survey on the True North property, beginning the week of Aug. 23, 2004. The property is host to a large, known magnetic anomaly and previous exploration and drilling of the company's Raglan properties have indicated the need to undertake this survey. The budget for the airborne is currently set at $175,000, and financing will be jointly supplied by NovaWest and Cascadia and will increase the total budget of their 2004 Raglan exploration program to $4.67-million.

The True North is a 30,774-acre property located on the north Raglan trend, adjoining the existing Raglan assemblage currently being explored by NovaWest and Cascadia. The property is held under an option agreement with Minera Capital Corp., which will retain a 30-per-cent interest once NovaWest and Cascadia have fulfilled their work commitments of up to the three-year earn-in period. NovaWest and Cascadia will each own one-half of a 70-per-cent interest in the property. Once NovaWest and Cascadia have fulfilled their commitments, Minera must begin contributing its portion of exploration and maintenance expenses toward the property.

The 2004 Raglan drill program is progressing very well and producing some encouraging initial results. Two drill rigs are currently in operation on the south trend and on the north trend. The company expects to continue drilling until late September.
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Tackler Tackler 20 years ago
Cascadia, NovaWest release results from Raglan project

2004-08-16 10:58 ET - News Release

See News Release (C-CJ) Cascadia International Resources Inc (3)

Mr. James Evaskevich of Cascadia International reports

CASCADIA ANNOUNCES SIGNIFICANT MINERALIZATION IN RAGLAN NI-CU-PGM-CO PROJECT

Cascadia International Resources Inc. and its joint venture partner NovaWest Resources Inc. have completed 3,501 metres (11,488 feet) of drilling by July 31, 2004, in 21 holes in the Raglan trend in Northern Quebec with mineralized sections up to 50 feet with nickel assays up to 2.89 per cent, copper assays up to 3.99 per cent, and up to 17.3 grams per tonne (g/t) Au+Pt+Pd. An additional 37 holes are planned for the rest of the drilling season with two drilling rigs operational. One rig is testing anomalies on the northern Raglan trend which hosts the deposits of Falconbridge Ltd. to the east and Knight Resources Ltd.'s discovery to the west of Cascadia/NovaWest's claim group. The second rig is drilling potential targets in the south belt which hosts Canadian Royalties' discoveries to the east and the deposit of Falconbridge Ltd. in the lower middle of the Cascadia/NovaWest claim group.

ALS Chemex, of Vancouver, has provided assays of the first 11 holes. Elevated values related to the targeted Ni-Cu-PGE mineralization were reported for eight of these holes. Results are complete for the Bravo area only, with other reports following when ready.

The Bravo area on the south trend in holes NW04-15, and NW04-21 returned the most encouraging initial results of the early 2004 drilling season. Combined with the 2003 results from Bravo (hole NW03-13), Cascadia is very optimistic about these early results. The Bravo area is located 10 kilometres west of the Falconbridge Ltd. Delta deposit (817,000 tonne, 3.05 per cent Ni, 1.26 per cent Cu and 2.6 grams per tonne platinum group elements (PGE)). The texture and composition of the disseminated and massive sulphide mineralization in Bravo hole No. 15 and No. 21 is similar to that found at the Mesamax and Expo deposits being explored by Canadian Royalties Ltd. on the south trend.

In hole NW04-15, a 15-metre-long (50-foot) intersection of disseminated and minor massive sulphides returned Ni values up to 2.89 per cent, Cu assays up to 3.99 per cent, and some very encouraging Pt and Pd assays ranging up to 1.04 g/t Pt and up to 10.65 g/t Pd. The higher values are associated with the massive sulphide parts of the intersection.

In hole NW04-21, disseminated sulphides in an ultramafic rock return elevated Ni-Cu-PGE in two sections, an 8.0-metre (26-foot) length from 23.0 to 31.0 metres and a 15.5-metre (50-foot) length from 53.0 metres to 68.5 metres.

Holes NW04-14, 16, 19 and 22 returned lower, but still encouraging assays all from disseminated sulphides (see table below).

The company follows all industry standards related to analytical work to guarantee reliable and unbiased results.

Dr. Burkhard Dressler, PGeo (Quebec), chief geologist and vice-president exploration, Novawest Resources Inc., is Cascadia's designated qualified person for the preparation of Cascadia's Aug. 16, 2004, press release on which this press release is based.
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ewallman ewallman 21 years ago
Drilling is done, results in two weeks
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echarters echarters 21 years ago
Those guys never seem to drill. Wazzup with that?

They are out of time now.

Drill it, kill it?

EC<:-}
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ewallman ewallman 21 years ago
Any comments on the surface sample results? Mr. Charters?
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ewallman ewallman 21 years ago
We should be seeing results very soon here. KNP and CZZ have released results already.
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ewallman ewallman 21 years ago
NovaWest Resources Inc NVE
Shares issued 28,052,850 Jul 17 close $0.47
Thu 17 Jul 2003 News Release
Also (CJ)
Mr. Patrick O'Brien of NovaWest Resources reports
RAGLAN NI-CU-PGM-CO PROJECT DRILL SITE PREPARATION UNDERWAY
NovaWest Resources and its partner Cascadia International Resources Inc. of
Vancouver, Canada have commenced exploration on the 660-square-kilometre
(161,000-acre) Raglan assemblage. Novawest/Cascadia personnel and a
geophysical team, along with geophysical, field and drill equipment,
arrived in the area in early July. Sampling, geophysical surveying and
drill site preparation are now under way. The fully financed $3.55-million
2003 exploration program, currently under way, includes an extensive
AeroTem airborne geophysics survey program, ground geophysics over both
known and new drill targets, prospecting and sampling, and diamond
drilling. Under the terms of their agreement, the two companies have agreed
on spending $12.35-million over three years on the Raglan assemblage, with
exploration commitments of $3.55-million in year 1, $4.3-million in year 2
and $4.5-million in year 3.
The expansive Novawest/Cascadia Raglan assemblage has taken seven years to
assemble and is strategically situated in the centre of the Raglan camp
between two of the world's largest metal producers, Falconbridge Ltd. and
Anglo American Exploration (Canada) Ltd. Available data indicate that the
west, central and east horizons of all three of the important
stratigraphies of the Raglan belt are now mostly covered by the extensive
holdings of Anglo American/Knight Resources Ltd. to the west,
Novawest/Cascadia in the centre, Falconbridge Ltd. to the east, west and
north, and Canadian Royalties to the east and south. Collectively, these
companies now encompass approximately 3,000 square kilometres at Raglan.
The straddling of all three of the Raglan trends, the north trend, the main
Raglan trend (hosting most of Falconbridge's deposits) and the south trend
is a situation that appears to only be apparent on the Raglan holdings
covered by the Novawest/Cascadia Raglan assemblage and Falconbridge Ltd.'s
adjoining holdings, most of which hosts its producing Raglan deposits.
The high-grade nickel, copper and PGM samples released by Knight Resources
Ltd. and its majority partner Anglo American Exploration (Canada) Ltd. from
the western extension of the Raglan belt on July 16, 2003, are very
positive and encouraging, supporting Novawest's own in-house model,
developed in the mid- to late 1990s, projecting the entire Raglan belt from
east to west as mineralized, including the western extension. Due to early
Novawest results, more recent Canadian Royalties results and the most
recent Knight/Anglo American results, the Raglan belt does appear capable
of hosting mineralization throughout that could result in economic
orebodies. The in-house Raglan model concluded that the western extension
was capable of mirroring the mineralization already known to exist along
the north, main and south Raglan trends to the east, and this model was
based on the fact that Novawest's own sampling clearly delineated the three
trends traversing the Novawest/Cascadia Raglan assemblage east to west. It
was clear from the early sampling that the three trends would likely
continue through the central Raglan belt currently controlled by Novawest
and Cascadia, and extend into the western extension.
The company's in-house Raglan exploration model and geological overview
identify the Raglan belt as part of the Circum-Superior mobile belt, which
includes the Thompson nickel belt (TNB). In order to estimate the economic
potential of the Raglan belt, Novawest drew upon its personnel's knowledge
and expertise in the TNB, Manitoba. The TNB represents another,
approximately 340-kilometre-long portion of the Circum-Superior belt; a
virtual mirror image of the Raglan (Cape Smith belt). A comparison of the
Raglan with the TNB indicates that, to date, only a fraction of the
Ni-PGM-Cu sulphide deposits and tonnage known to exist in the TNB have been
discovered in the Raglan belt. The TNB contains in the order of 800 million
tons of Ni-PGM-Cu sulphide mineralization in over 30 deposits (not all
producers), with exploration down in excess of 5,000 feet. In comparison,
the Raglan belt is early into its economic evaluation, with exploration to
date being shallow, above 1,000 feet depth.
Falconbridge's nearby Raglan (Katiniq) mine, on property adjoining
Novawest/Cascadia, is presently an important world source of nickel,
palladium, platinum, cobalt, osmium and copper. Some of Canada's most
significant palladium and platinum values are from the Raglan camp, with
Novawest itself reporting palladium values up to 26.76 grams per tonne, and
platinum values up to 9.3 grams per tonne from 1997/1998 surface samples of
hard-rock surface outcrops. In spring 2000, Amplats, the world's largest
platinum producer, tested a sample representative of an extensive
outcropping area on the Novawest/Cascadia Raglan assemblage at its South
Africa laboratory. Amplats reported identifying three palladium-telluride
(Pd-Te) phases in the samples, and confirmed that its chemical analysis
gave a value of 20.4 grams per tonne platinum group elements plus gold.
Novawest/Cascadia is pleased to have had such a recognized and respected
independent third party report such an assay from a Novawest finding in a
zone determined to be approximately 2,000 feet in strike length. Other
various surface samples from the Raglan camp area submitted to Chemex for
analysis returned notable assays of 21.8 grams per tonne palladium, 16.5
grams per tonne palladium, 8.83 grams per tonne palladium, 5.54 grams per
tonne palladium and 3.37 grams per tonne palladium. The Novawest/Cascadia
assemblage surrounds Falconbridge's Delta-Oasis property containing the
approximately 850,000-ton Delta deposit (D-8 and D-9) grading 3.08 per cent
nickel, 1.26 per cent copper and 2.25 grams per tonne platinum group
minerals (PGMs). It is understood that these holes were placed a few
hundred metres from Novawest/Cascadia boundaries.
Maps and information packages on the Raglan camp and the company in general
can be obtained by contacting Novawest at 1-800-663-8990 in North America,
or 604-683-8990 from elsewhere.
Novawest invites the public to visit its Web site at
http://www.novawest.com,, or E-mail it at novawest@novawest.com to be added
to the company's E-mail list for news releases and updates.
WARNING: The company relies upon litigation protection for
"forward-looking" statements
👍️0
echarters echarters 21 years ago
Cusac we see has an explo play in the fable Tulameen. They have peridotites and contacts and down slope Pt values.

Most likely the things that gave rise to the Tulameen Pt placers are low grade. But one never knows.

EC<:-}
👍️0
Ed Monton Ed Monton 21 years ago
VVC Explorations is the latest company to jump onto the Ungava bandwagon:

VVC Exploration Corp. Quick Quote: V.VVC 0.43 (+0.03)

Property-Asset Acquisition
6/20/03

Tier 2 Company

TSX Venture Exchange has accepted for expedited filing documentation of a Purchase Agreement dated June 6, 2003 between the Company and Northwest Exploration Co. td. (Steve McIntyre, the 'Vendor') whereby the Company has acquired 527 mining claims in the Ungava Area of Quebec.

Consideration payable to the Vendor comprises of $52,500 in cash and 300,000 common shares of the Company.

Ian Cochlane will receive a finder's fee equal to 45,000 common shares of the Company.







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Ed Monton Ed Monton 21 years ago
Raglan stocks have been performing really well in the last 3 weeks.

Here is the chart for Novawest:



And for their neighbor in Raglan, Canadian Royalties:


👍️0
Ed Monton Ed Monton 21 years ago
Looks like Brightstar is going after the source of those platinum nuggets.


News Release June 19, 2003

Symbol: TSX-V: BSV.V
OTC: BSVLF.PK

BRIGHT STAR COMMENCES EXPLORATION
ON "FIVE" NEW PGM TARGETS


Bright Star Ventures Ltd. (the "Company") has now mobilized field staff and personnel to its camp in the Tulameen River area to commence its exploration program on the southern portion of the largest known Alaskan type ultramafic complexes in North America.

The Tulameen Alaskan type ultramafic complex in South Central B.C. represents excellent potential for hosting multiple economic deposits with significant platinum group metals. Bright Star Ventures controls 85% of the 64 square kilometer complex.

Similar Alaskan-type ultramafic complexes in the Ural Mountains in Russia have produced multi-million ounces of Platinum Group Metals along with large quantities of copper, nickel and gold production. The Tulameen River and its tributary creeks on Bright Star' properties were the site of a gold rush in the 1880's and along with bonanza grade gold, miners discovered over 20,000 oz. of platinum nuggets.

Bright Star has started its 2003 exploration program with three teams and will be collecting 1,800 geo-chemical samples in the next 30 days. During the fall and winter of 2002, Bright Star acquired an interest in an additional 6,600 acres covering the southern half of the ultramafic complex as well as 200 acres covering six Crown Grants situated along the northwestern strike extent of the previously described DP Zone, a Cu-PGE mineralized system.

A helicopter airborne magnetic and electromagnetic survey flown over these claims have identified "five" high priority exploration targets on the Western portion of the complex that have sulphide zone signatures (each 1 kilometer or more in length) in similar geological settings as the DP Zone. These new targets have not been previously explored or drilled. The 2003 exploration work will systematically evaluate these high priority targets with soil and stream sediment geochemistry surveys, detailed mapping and prospecting, ground geophysics surveys and diamond drilling programs. It is anticipated that these and other high quality drill exploration targets will be developed as the 2003 field season progresses.

For information on the company call 1-800-884-3864, or visit our website at www.brightstar-ventures.com

On behalf of the Board

"Reg Handford"

President & Director


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ewallman ewallman 21 years ago
Thanks for that link. I actually cannot recall ever seeing an analyst's report on NVE...except maybe from the old "International Homestead" days..LOL
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Ed Monton Ed Monton 21 years ago
Analyst report:

http://www.kitco.com/pr/1280/article_06192003095957.pdf
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Ed Monton Ed Monton 21 years ago
Does anyone know anything about Golden Valley (gzz) or Osisko (osk)? Apparently they are doing some exploration (joint venture) in the Ungava.

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Ed Monton Ed Monton 21 years ago
I guess the private placement at .375 slowed down the advance.


NOVAWEST RESOURCES INC.

May 12, 2003

NovaWest Resources Inc.(the “Company”) Symbol “NVE” on the TSX Venture Exchange is pleased to announce that the Company has arranged the placement of the full $1.5 million Private Placement that was announced on April 22, 2003. Upon closing, the Company will issue 4,000,000 Units at $0.375 Cdn. per Unit. Each Unit will consist of one common share and one share purchase Warrant. The Warrant will entitle the holder to purchase one additional share of the Company at a price of $0.50 Cdn. The Warrants will expire on April 30, 2004. A finder’s fee, per the TSX Venture Exchange guidelines, will be paid on all funds raised. One half of any finder’s fee payable will be paid in cash with the remaining half to be paid in stock. All shares issued will be subject to any applicable hold periods. $1.0 million of the proceeds from the private placement will be used for exploration on the Company’s Raglan project and the remainder of the proceeds will be used for other exploration and operating capital. All terms are subject to the approval of the TSX Venture Exchange.

NovaWest invites the public to visit its website at http://www.novawest.com or e-mail us at novawest@novawest.com to be added to the Company's e-mail list for press releases and updates.



ON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RESOURCES INC.

"Patrick D. O'Brien - Chairman"



👍️0
ewallman ewallman 21 years ago
Trading nicely, nice steady rise. Good to see.
👍️0
echarters echarters 21 years ago
O'Brien says he is going to drill some anomalies in the groups on this round. He told me he has 70 anomalies. I asked him if the had mag lows of the type CZZ is hitting on and he replied that he did. Not all the zones will be mag lows though.

This stock is bound to be a play unless they skunk 20 times in a row. I cannot see that as they are in the same trend as falco and they have showings. It's all a manoevering a money game for them as they have to do a lot of explo and cannot burn out too soon.

Waiting for doctor drill to make his report.

EC<:-}
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ewallman ewallman 21 years ago
I like it. NVE keeps control and is the operator.
👍️0
Ed Monton Ed Monton 21 years ago
Here is the news:

NOVAWEST RESOURCES INC.


Suite 1000, The Marine Building, 355 Burrard Street
Vancouver, BC, Canada V6C 2G8
Phone: (604) 683-8990
Toll Free: 1-800-663-8990
Fax: (604) 574-5139
E-Mail: novawest@novawest.com




TSX Venture Exchange
Trading Symbol "NVE" S.E.C. Exemption 12(g)3-2(b)
File No. 82-3822
Standard & Poors Listed

$12 Million Joint Venture On Raglan Ni-Cu-PGM-Co Project



April 10, 2003

NovaWest Resources Inc.(the "Company") Symbol "NVE" on the TSX Venture Exchange is pleased to announce that the Company has entered into an Option Agreement with Cascadia International Resources Inc. ("Cascadia") of Vancouver, Canada- Symbol "CJ" on the TSX Venture Exchange, whereby Cascadia may earn a 50% interest in the Company's 660 sq. km. (161,500 acre) Raglan Ni-Cu-PGM-Co Assemblage situated in northern Quebec (the "Raglan Claims".

Cascadia may earn its 50% interest in the Raglan Claims by paying the Company $300,000 cash and 1,500,000 common shares of Cascadia stock over three years; arranging a $1.125 million brokered or non-brokered private placement for Novawest to close by May 1, 2003, and contributing exploration dollars to assure a total of $12 million is spent on exploration on the property over three years. The two companies have agreed on exploration commitments of $3.2 million in Year One, $4.3 million in Year Two, and $4.5 million in Year Three. Cascadia's interest will vest 25% in th Raglan Claims and Permits after meeting the first and second year's combined commitments and a further 25% after meeting the third year's commitments. Under the Agreement, Novawest will be the Operator. A Management Committee will be formed made up of 5 individuals, three from Novawest and two from Cascadia. Novawest will contribute $1 million of the private placement proceeds to the exploration expenses in year one and any proceeds up to $1.5 million derived from the exercise of the warrants associated with the private placement in year two. Expenses, such as advance royalties, claim renewal fees, etc. incurred to maintain the 660 sq. km. (161,500 acre) Raglan Assemblage will be shared equally by the companies. At present, the majority of the claims and Permits making up the Raglan Assemblage are in good standing until 2005, have approximately $550,000 in banked work credits, and are only subject to a $30,000 annual advance royalty. An agreed Area of Influence will cover the entire Cape Smith/Raglan Belt extending from Ungava Bay to the east and Hudson Bay to the west. Cascadia has been provided with the Right to Accelerate its earn-in, at its discretion, any time within the three-year term, as well as an additional Acceleration Provision whereby Cascadia my accelerate its 50% earn-in immediately upon paying Novawest all unpaid cash, stock and exploration commitments. This second provision is intended to cover Cascadia should a third party wish to simultaneously buy-out the interests of both parties.

As part of the Option, Novawest will undertake a $1.125 million Private Placement, to be arranged by the Optionee, by way of the issuance of 3 million units at $0.375 per unit. Each Unit will be comprised of one share and warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.50 per share. The warrants will expire on April 30, 2004. By arranging the private placement the Optionee will be credited with $1 million towards its exploration commitments. Funds of up to $1.5 million derived from the exercise of the warrants will be credited to the Optionee's second year's exploration commitments. Any shares issued with regard to the private placement and the exercise of the warrants will be subject to any applicable hold periods.

A finder's fee, within the TSX Venture Exchange's policy guidelines will be paid in shares with regard to the value derived from the Option Agreement. All terms of the Option are subject to the approval of the TSX Venture Exchange.

Novawest would like to thank and acknowledge Mr. David Baker of D. Baker Capital Inc. of Vancouver, Canada for all of his company's efforts, input, and assistance in seeing this strategic business arrangement through from conception to completion. Mr. Baker's experience and expertise has contributed immensely to both company's ability to negotiate and complete this agreement. We look forward to the future contributions of D. Baker Capital Inc. in achieving our Company's future milestones and goals.

In addition to the $12 million in exploration commitments agreed to under the Option, Novawest will be contributing a further $350,000 from a recently announced private placement with SIDEX to the first years exploration expenditures, bringing the first years planned expenditures to a total of $3,550,000. This additional $350,000 will be applied to the airborne geophysical portion of the exploration. In exchange for the cash contributions being made by Novawest, Cascadia has agreed to waive any interest it may have to any grants, credits and refunds under Government of Quebec Incentive Programs.

The planned 2003 Raglan exploration program includes approximately 6600 line kilometers of airborne geophysical surveying, extensive ground geophysics, prospecting and sampling, and approximately 20,000 feet of diamond drilling. It is expected that the multi-phase program will commence in late April and run until fall 2003.

Novawest's expansive Raglan Assemblage has taken 7 years to assemble and is strategically situated between two of the world's largest metal producers Falconbridge and Anglo American. Available data indicates that the west, central and east horizons of all three of the important stratigraphies of the Raglan Belt are now mostly covered by the extensive holdings of Anglo American to the west, Novawest Resources in the centre, and Falconbridge Limited to the east and north. Collectively, these companies now encompass approximately two thousand sq. kms. at Raglan. The straddling of all three of the Raglan trends, the North Trend, the main Raglan Trend and the South Trend is a situation that appears to only be apparent on the Raglan holdings covered by Novawest Resources Inc.'s Raglan Assemblage and Falconbridge Limited's adjoining holdings most of which hosts it's producing Raglan deposits.

Maps and Information Packages on the Raglan Camp and the Company in general can be obtained by contacting Novawest at 1-800-663-8990 in North America or 604-683-8990 from elsewhere.

NovaWest invites the public to visit its website at http://www.novawest.com or e-mail us at novawest@novawest.com to be added to the Company's e-mail list for press releases and updates.



ON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RESOURCES INC.

"Patrick D. O'Brien - Chairman"





THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.








👍️0
echarters echarters 21 years ago
I heard they are involved in taking over Falconbridge.

EC<:-}
👍️0
ewallman ewallman 21 years ago
NVE is halted..hope it is a Raglan JV...
👍️0
echarters echarters 21 years ago
The pungyuarutuayokawiouk formation is named after me. It means "real crazy guy you have to watch out for."

Like to go anyway.

Like to go to our property in NWT soon too.

And spend some money.

http://www3.sympatico.ca/echarters/index.html

EC<:-}
👍️0
ewallman ewallman 21 years ago
Well, that is what has kept me on board all of this time. The property is just to good to pass up IMO. Pat O'Brien has been very patient throught the PM bear market and they have had little dilution - but I do sense that the time is ripe to JV and set out some aggressive drilling plans.

EC, have you ever been up to that area?
👍️0
echarters echarters 21 years ago
Well that was Novawest's problem in the past. They did not drill. They talked and did surface sampling but no drilling to speak of. They were I think, looking for a partner with big money, as to drill all 70 anomalies which is actually necessary, is big money up there. That could cost north of 7 million if they need to drill more than one hole per anomaly. Some deposits if they hit, south of one million tons, could suck up one million alone in drilling just one of them. And Raglan Falco is just that, 20 of those type of deposits. They need about five drills to drill anything realistic up there, as the season is so short.

They also did not have a complete handle on or could not sell, the necessity of drilling some of the mag lows, as CZZ showed is so profitable. If you look at the Raglan map NVE is right in there in the trend, and there are Falconbridge deposits west and east of them. They have a good chance. There is a good chance with their position and the success of CZZ that they got some good money to drill with.

EC<:-}
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ewallman ewallman 21 years ago
Volume and price in Novawest is picking up. I think we will see some positive news shortly. I hope it is news on the Raglan front (JV perhaps?) as this area seems to be heating up after the CZZ drilling the past six months. For us long standing NVE shareholders, we would love to see some drilling on the NVE Raglan claims.
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echarters echarters 21 years ago
Dear Sierra club member: (We hope not...:)

Dredges operate too slow to get any fish caught in them. Fish can swim at fifteen miles an hour, as any angler who has trolled knows. The only thing that keeps you from trolling normally at that speed is the fact that the lure rises unacceptably in height. A high volume dredge operates at only a few feet per second. The noise keeps fish away from it as well. On a dredge you do not have to keep throwing fish back into the pond. They do not show up in the feed. The dredge head is buried in holes with the cutter head and suction is not high until you get very near the inlet pipe. A dredge operates very slowly over what to nature and the entire length of the river is a miniscule area. A 1000 yard per day dredge will probably only cover an area of 150 feet wide by 1300 feet long in one season. This .0078 square miles. The Yukon and Pelly rivers have more than 6,000 square miles of available placer area. This represents an area use of one part in one million. It is trivial and the government knows it.

The recent DFO regulations are all about removal of money and power from English Canadian, non-liberal-voting, non-french people, and conservation is not the issue. This has already been signalled by Chretien. He said that "when he was young he thought English Canadians had horns and fangs, that they were the devil." He actually said that recently. He said that because it was the truth as he saw it, albeit in a manner of expression. The thing you have to realize is that people do not necessarily abandon their formative views just because the say they do. If he said he had that view, it is amazing that he could abandon it. He should have had the intelligence to know otherwise even at a tender age.

The DFO are just hired to do a hatchet job, and the government would reject anyone for the job who did not have the necessary non-scientific knee-jerk attitude that is born of a rejection of anything of a necessary process of manufacture or industry. People of this sort have a sort of schizophrenia of oblivious rationalization of origination. They, though exhibiting signs of intelligence in other areas, imagine that their government provided BMW and luxury home were born pristine, without industrial waste of manufacturing side effect on a distant planet of Liberalis Hera-caporum Manufacturis, or possibly built by their communist slave-master friends in China, where conservation and waste do not matter, as they need a leg up, and anyway the stuff they make is not on a Sierra Club 4 colour vegetarian non-polluting-ink (they will have you believe) fact-sheet.

EC<:-}



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Ed Monton Ed Monton 21 years ago
Imagine the 1000's of miners running right on those Klondike claims and narry a fishcop in site. The slaughter, the thought of it hurts too much. Imagine being a fish. One minute your swimming along minding your own business, next thing you know you're in the guts of a dredge.

tf
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echarters echarters 21 years ago
Dredging does not kill fish. There has been no statistics to that effect. In addition if one dredges in a locked or dammed pond, as most dredges did in the Yk, then there is no direct sediment discharge into any watershed. You can as well take the sediment and filter it thru various mechanisms. The load is not high, so it is not that expensive.

One cannot say that the fish population in those creeks was good or bad as there was no-one there who could give reliable statistics. What I am saying is that there has been no great drop off in fish population that is due to river bed disturbance. Any fish degradation in the river can be explained by overfishing by an increasing population and commercial fishing. We know that kills fish for sure and we have seen this sort of thing in many, many cases. This sediment load has me wondering. We know that zebra mussels, and lamprey and sulphuric acid from pulp mills kills fish, by deoxygenation and other ways, but we don't know that sand does. We know that sand invigorates fish habitats. Fish live better in high sediment load rivers and lakes than they do in lightly loaded ones. This smells more of an anti mining agenda than anything else.

EC<:-}

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Ed Monton Ed Monton 21 years ago
A lot of the silt in the Yukon River enters from the White River, a glacier fed river which comes out of Kluane and is so named because of its high silt load. The Pelly and Stewart rivers contribute as well. In the Southern Yukon, the river runs through many lakes and the water is as clear as can be.

I can't agree with your statement that in the whole history of placer mining in the Yukon there hasn't been a reduction in fish population. I would argue that the streams of the Klondike; Eldorado, Rabbit, Bonanza etc were good fish habitat in 1898 but not shortly thereafter. Once the rush was on it wasn't just the fish who had problems. Along the trail in the Southern Yukon, whole populations of Caribou were wiped out by those heading to the Klondike.

In the early 1900's the whole lower portion of the Klondike River valley was dredged. I imagine that part of the river was void of fish during that time as a result.

Not that I'm a fan of DFO.

By the way, there's some nice grayling streams in the upper reaches of the Klondike, south of the Ogilvie Mountains.



tf
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echarters echarters 21 years ago
That is an extremely rich pan. If it were a pan from even 20 pounds of river gravel, I would sacrifice a lifetime's earning trying to get that one into production. It could be a "demo", or from the clean-up of a sluice box. More often, Platinum will be finer than that.

In a true "pitch-up" of a pan, the valuable grains will not be scattered as in the photo, but will be at the "sword-tip" of a scimitar-shaped grain-trail along the bottom edge/groove of the pan. "Pitching-up" is an olde English expression. (Panning is 2000 or more year-old art in Britain.) The technique is to tilt the pan toward you at about 30 degrees from the horizontal, with about a cup or two of water and a half cup or less of heavy minerals from panning. You rotate the pan to the left with an oscillatory shimmying or tapping action, and let the water swirl counter-clockwise around the bottom groove of the pan. (You might have to alternate the wash with the shimmy, as it is hard to co-ordinate). The water washes over the minerals in the "pocket" of the pan and lifts the lights to the right. The minerals will separate with all the super-heavies on the left in an "eye", and the less-heavy will wash over to the right. A trail then begins to form, with the gold and Platinum forming a long curved path and a bright spot at the left-bottom. This is the proper way to examine a pan concentrate.

In a heavy Pt river the eye will be whiteish ahead of the gold. Silver also pans well, but it is lighter than gold so more to the right, and the grains will be slightly larger.

Yukon News--->

It seems like the federal DFO (Department of Fisheries and Oceans, desperately seeking excuses to run Yukon placer miners out of business, is seeking to injunction that placer miners will no longer be able to discharge tailings water into the Yukon River. It is rumoured that the new regs will shutdown 85% of placer miners. This will destroy the economy of the Yukon. There are not many votes in this, so the Federal liberals, long anti-mining, and more anti-western, English speaking mining, are not concerned.

I don't know just how stringent the regs are. If they allow two tailings ponds, reasonable sediment settling and cleaning, or just disallow bank diggings in the river bed. I heard that some arbitrary figure of 40 metres removal from a river bank or the Yukon river bank was required. Historically the Yukon is a very muddy silty river. It discharges and reloads at any one point perhaps 1,000,000 tons of sediment in a 24 hour period. (both pick up and drop out) A placer claims will discharge at the most 750 tons of gravel per day, of which is perhaps 100 tons is fine sediment. 10,000 to one seems like a miniscule amount by comparison, doesn't it?

Since load is constant, and sand drops out as fast as it is picked up in sedimentary systems, all the placer mines of the river do not add any net sediment load to the river as a whole. The river can only carry the sediment that it can carry, according to its flow rate. It cannot carry any more of any particular size range. The only sediment addition it can possible additionally carry, is the very, very fine clays of which i has plenty anyway, which do not settle. If the clays do not settle at all, or very, very slowly, they are not a problem. All sediment load that buries fish breeding grounds or eggs, has to be local and should be trivial. If there is any sediment discharge from tailings, it can be reduced to zero by settling ponds, flocculants, and cyclones. Te discharge can be cleaner than the river.

The small amount of sediment a 1000 placer mines can add to river as mighty as the Yukon, is trivial to the natural environment. Translation is, the knee-jerk reaction of the DFO, who has not a sedimentologist on the entire staff, is bad science, and very jejune. The fact that the entire placer mining history of the Yukon has not resulted in any reduction of the fish or benthic population in 100 years, should be examined at bit more closely.

It is far more likely that if fish stocks are declining that fishing offshore in Alaska, by Russians and Americans is the cause. We have seen this before.

EC<:-}

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echarters echarters 21 years ago
The Tulameen was famous for having "white gold", which is platinum in this case. The old time miners used to throw it away, as there was no use or general market for it. In effect they did no know what it was. It is a white heavy mineral, heavier than gold often. Pt occurs in pure form, but more often an alloy of iron, or a compound of arsenic, sulphur, or antimony. The most common platinum minerals are the arsenides (sperrylite) and antimonides. They are all bright silvery white, looking a bit like heavy white pyrrohtite but leading the magnetite in the pan.

In the Tulameen, the platinum comes from gabbros and peridotites that line the river valleys there. They have been tested positive for platinum minerals in the past.

There are other areas of BC and the Yukon that have platinum in placers. Miners would mistake it often for sulphides. It could be sulphide too, but if it is in the eye of the pan, extremely fine, ahead of the magnetite and very sluggish, Pt should be suspected.

EC<:-}
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Ed Monton Ed Monton 21 years ago
There's one in the header.
The pan looks salted though. (ggg)

tf
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Ed Monton Ed Monton 21 years ago
This Tulameen river area that Brightstar is in sounds fascinating. Placer platinum, didn't know such a thing existed. Any idea what a platinum nugget looks like? Hard to imagine since its not a malleable metal like gold. I've seen plenty of gold nuggets before having spent a bit of time in the Klondike.

tf
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echarters echarters 21 years ago
Pattie Obrheean was at the PEEDACK lone wolfing it. I collared him at Kirkland lake nite and plied him with alcohol. He confessed to having all the ground he needed and seventy anomalies, several of the type of the esteemable CZZ. He also confessed to having a 38 stock problem, but said the drilling budget he envisioned should clear that up.

Who knows where the wind blose in the far far north?

EC<:-}
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marcos marcos 21 years ago
Here is the old Novawest SI thread - http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=8142

Lately while considering Canadian Royalties czz.v i've been going back over some of the old posts, there is quite a lot of interesting detail of the area .... like Pat O'Brien, Glenn J Mullan is an SIer too, used to post on the Bandore thread, they both got a lot of flak in the first years of the resources bear, and both made vigourous response to it ... both were encouraged to stop posting in public, by the exchange perhaps, don't know, but personally i think they both come across as straight shooters competent in their field

Terry J Crebs was another geo who used to post, here is one of his on the old Voisey's Bay thread - http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=11789114


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ewallman ewallman 21 years ago
I have been an investor - in and out - of Novawest since about 1996 or so. It was actually called International Homestead back then. I love the raglan property they have but they do need to proceed with a JV or some drilling.

The CEO, Pat O'Brien, is a very good guy to talk to. He is been there through the market ups and downs and has steered the company through the last downturn with very little dilution.
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