Alpha Minerals Discovery Zone (R00E) Returns 22.0m of 4.8%, Including 4.0m of 20.73% U3O8 at Patterson Lake South, Athabasca Basin
Alpha Minerals Inc. (TSX VENTURE:AMW)(FRANKFURT:E2GA) ("Alpha" or "the Company") and its Joint Venture partner Fission Uranium Corp. (formerly Fission Energy Corp.) are pleased to report assay results from another nine holes from the R00E zone at its Patterson Lake South ("PLS") Property. The assays show a continuous area of broad uranium mineralization at shallow depth. Of particular note is hole PLS13-043 which returned an interval of 22.0m at 4.8% U3O8. With a Grade x Thickness (GT) product value of 105.6, representing the best GT interval to date from the R00E Zone.Hole PLS13-043 (line 045W) intersected: 22.0m of 4.8% U3O8, including 4.0m of 20.73%U3O8
Orefinders Intersects 14.50 m @ 8.10 g/t Au Including 5.90 m @ 32.5(i) g/t Au (uncut) at Mirado Gold Project, Kirkland Lake
Orefinders Resources Inc. (TSX VENTURE:ORX) reports additional high grade gold results from six more drill holes (1,866 m) from its phase II diamond drilling program at the Mirado Gold Project in Kirkland Lake, Ontario. Highlights include hole MD13-19 which intersected32.54* g/t Au (uncut) over 5.90 meters of consistent bonanza grade mineralization (see Table 1) within an interval of 14.50 meters at an average cut grade of 8.10 g/t Au. These latest results demonstrate good continuity of near surface high grade gold mineralization over broad widths in the South Zone, where recent drill results included 9.50m @ 59.2* g/t Au (Hole MD13-07) and 4.30 m @ 17.2* g/t Au (uncut) in hole MD13-06.
Pangolin Diamonds Discovers Its First Kimberlite in Botswana
- Kimberlite discovered at Tsabong North Project has a +20 hectare aeromagnetic anomaly associated with it - Two additional diamond drill core holes will be completed to intersect a minimum of 100 meters of kimberlite - Additional undrilled kimberlite targets in the project area have the same magnetic signature
Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce it has discovered its first kimberlite at its 100% owned Tsabong North Project in Botswana. Core logging identified crater facies sediments and underlying reworked volcaniclastic kimberlite ("RVK") breccias in drill hole "Magi-01/1".
Asanko's Pre-Feasibility Study Confirms Robust Project Economics for Esaase Gold Project
Asanko Gold Inc. ('Asanko' or the 'Company') (TSX:AKG)(NYSE MKT:AKG) is pleased to announce that the Pre-Feasibility Study ('PFS') for its flagship Esaase Gold Project in Ghana, West Africa ('Esaase' or the 'Project'), has confirmed the technical and economic viability of the Project. All currency in this news release is quoted in United States Dollars unless otherwise stated.
Highlights of the PFS (based on $1,400 per ounce gold price) are, as follows:Proven & Probable Mineral Reserves of 2.37 million ounces of gold at 1.41 g/t. Robust project economics with an after-tax IRR of 23.2% and an NPV (5%) of $354.7 million.
LIM signs new two year iron ore sales agreement with Iron Ore Company of Canada
Labrador Iron Mines Holdings Limited ("LIM" or the "Company") (TSX:LIM.TO - News) is pleased to report that it has entered into a new iron ore sales agreement with the Iron Ore Company of Canada ("IOC") for the sale of all of LIM's iron ore production for the next two calendar years 2013 and 2014.
At the same time, LIM is also pleased to announce that it has entered into an off-take financing agreement with RB Metalloyd Limited ("RBM"), a leading international commodity trading house, under which LIM will receive an advance payment of US$35 million to be credited against future sales of a minimum of 3.5 million tonnes of iron ore during 2013 and 2014.
Soltoro's Equity/Royalty Partner Advised of 4-5 Million Ounce Silver Potential Open at Depth and Along Strike at the Coyote Project in Mexico
Soltoro Ltd. (TSX VENTURE:SOL) participates in discoveries and advancements at Coyote through its ~15% equity holding in Argentum Silver Corp. (TSX VENTURE:ASL) and its retained 3% N.S.R. royalty interest in the Coyote property.
Argentum Silver has received an independent study and evaluation on a 600 metre portion of the El Tajo vein at the Coyote Silver Project in Jalisco, Mexico. The report states a minimum target potential of between 482,000 and 876,000 tonnes at a cut-off grade between 50 and 20 grams per tonne, for a potential of between 4,000,000 and 5,000,000 ounces silver.
GTA Reports Initial Results from Phase 4 Drill Program at Northshore. 1.47 g/t Au Over 70 M (Incl 12.28 g/t Over 2.0 M) from the Afric-East Extension
GTA Resources and Mining Inc. (TSX VENTURE:GTA) reports results for the initial five holes (WB-13-36 to WB-13-40) completed in its Phase 4 drill program on the Northshore Property, located 80 km west of Hemlo in northwest Ontario. The current program commenced in mid-March and is scheduled to include a minimum of 2500 meters of drilling focused on testing a number of extensions to the Afric Gold Zone. To date, a total of 1698 meters has been completed in nine holes and the program has been temporarily suspended due to winter break-up conditions. Drilling is scheduled to resume by the end of May, pending weather conditions.
Thompson Creek Metals Company Reports First Quarter 2013 Financial Results
Thompson Creek Metals Company Inc. (NYSE: TC) (TSX: TCM) (the "Company" or "Thompson Creek"), a growing, diversified North American mining company, today announced financial results for the three months ended March 31, 2013, prepared in accordance with United States generally accepted accounting principles ("US GAAP"). All dollar amounts are in United States ("US") dollars unless otherwise indicated. References to C$ refer to Canadian dollars.
Timmins Gold Reports Record Profit From Operations of $19.3 million and Record Earnings Per Share of $0.10 for Q1 2013
Timmins Gold Corp. (TMM.TO)(NYSE MKT:TGD) (the "Company") is pleased to report its financial results for the first quarter ended March 31, 2013. The comparative period is the three months ended March 31, 2012. All results are presented in United States dollars ("US Dollars") unless otherwise stated. Readers should refer to the 2013 management discussion and analysis and consolidated financial statements for complete information.
Cayden Resources Provides a Corporate Update
Cayden Resources Inc. (TSX VENTURE:CYD) ("Cayden" or the "Company") is pleased to provide a corporate update to its shareholders.
Cash position and sustainability
The Company currently has a strong cash position with over two years of operating capital. The current treasury including near-term receivables is approximately $15 million and Cayden is budgeting to have in excess of $9 million in the treasury in December, after the 2013 drill programs and property payments are completed.
Cayden has the unique opportunity to obtain additional non-dilutive funding with the potential future sale of its Las Calles concession. The concession represents a strip of land, located in between the operating Los Filos and El Bermejal pits that make up Goldcorp's (TSX-G) Los Filos mine.
First Majestic Announces Completion of La Guitarra's Expansion to 500 tpd
FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce that the expansion that commenced at the La Guitarra Silver Mine in November 2012 is now complete. The processing plant's capacity increased by 40% to 500 tpd from 350 tpd and commercial production is expected to reach 500 tpd during the month of May.
The construction of the new circuit was completed on budget and has been operating since April 24, 2013, without disrupting operations in the old 350 tpd circuit. This new circuit, resulting from the installation of a new ball mill and new flotation cells, is anticipated to produce approximately 1.2 million ounces of silver equivalent annually, representing over one million ounces of pure silver plus a modest amount of gold.
Confederation Drills 7 Metres Grading 32.57 g/t Gold in Shallow (Approximately 150 Metres Below Surface) Drilling at the Newman Todd Gold Project
(Under 70% Option Agreement From Redstar Gold), Red Lake District, Ontario
Confederation Minerals Ltd. (TSX VENTURE:CFM) is pleased to report results from the latest drill holes from the Newman Todd gold project, located in the Red Lake mining district. The interpretation of the geological controls affecting mineralized zones is now beginning to demonstrate continuity along strike and down dip, resulting in a high success rate in recent targeted drilling. The wide, 7 metre intersection grading 32.57 g/t gold, just approximately 150 metres below the surface, is an example of results based on our current geological model.
Orefinders Intersects 8.20 m @ 10.58 g/t Au within 30.20 m @ 4.03 g/t Au at Mirado Gold Project, Kirkland Lake
Orefinders Resources Inc. (TSX VENTURE:ORX) reports additional high grade gold results from an additional six drill holes (1,589 m) from its Phase II diamond drilling program. These latest results targeted the South Zone at the Mirado Gold project near Kirkland Lake, Ontario. All six holes being reported intersected significant high-grade and broad lower-grade gold zones.
Highlights of High-grade gold zones intersected near surface and at depth, include:
Allied Nevada Announces US$150.5 Million Bought Deal Financing
Allied Nevada Gold Corp. ("Allied Nevada", "we", "us", "our" or the "Company") (TSX:ANV)(NYSE Amex:ANV)(NYSE MKT:ANV) announces that the Company has entered into an agreement with a syndicate of underwriters, led by Dundee Securities Ltd. and including Cormark Securities Inc. (collectively, the "Underwriters"), which have agreed to purchase, on a bought deal equity financing basis, 14,000,000 shares of common stock of the Company (the "Shares") at a price of US$10.75 per Share, for aggregate gross proceeds to the Company of US$150,500,000. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 2,100,000 Shares at a price of US$10.75 per share to cover over-allotments. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds of the offering to the Company will be US$173,075,000.
Cline Mining announces entering into recapitalization agreement
Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that it has entered into the definitive recapitalization agreement (the "Recapitalization Agreement") with Marret Asset Management Inc., as agent for the bondholders and standby purchasers party thereto. The transactions contemplated by the Recapitalization Agreement were disclosed by the Company on December 27, 2012. Pursuant to the Recapitalization Agreement, the Company has filed a preliminary short form prospectus dated April 25, 2013 (the "Preliminary Prospectus") with respect to the rights offering and issuance of warrants to its shareholders, as described in greater detail in the Preliminary Prospectus.
Paramount Gold and Silver Extends High Grade Gold and Silver Values Down Dip on Don Ese Vein at San Miguel Project, Mexico
DS-13-032 reports intercepts up to 42.5 g/T gold and 186 g/T silver within a 22.5 meter wide mineralized zone Paramount Gold and Silver Corp. (NYSE MKT:PZG)(PZG.TO)(P6G.F)(WKN:A0HGKQ) ("Paramount") today reported that a new drill program designed to test the depth potential of the high grade Don Ese Vein has intersected outstanding gold and silver grades over greater-than-expected widths, indicating that substantial additional resources could be developed below the current resource model.
Fission Energy: JV Totals 66m U308 in 2 Zones: With 6m @35% in 49.5m @6.26%
FISSION ENERGY CORP. (TSX VENTURE:FIS)(OTCQX:FSSIF) ("Fission" or "the Company), and its 50% Joint Venture partner Alpha Minerals Inc., are pleased to report assay results from drill hole PLS13-053, part of the highly successful winter drill program on its PLS property. PLS13-053, within zone R390E, is located 30m grid west of PLS13-051 (see news release dated April 22, 2013) in which assays included 6.57% over 54m. Today's assays include two broad mineralized zones separated by just 4.5m of unmineralized pelitic rocks.
UPPER URANIUM ZONE = 66m - 115.5m49.5m @ 6.26% U3O8; Including 6m @ 35% U3O8 Highest assay in the interval: 45% U3O8 over 0.5m
Fortuna drills 7.3 m of 1789 g/t Ag and 10 g/t Au on northern extension of the San Jose mine, Mexico
Fortuna Silver Mines Inc. (NYSE: FSM) | (TSX: FVI) | (BVL: FVI) | (Frankfurt: F4S.F) is pleased to report that exploration drilling has successfully extended the Trinidad ore shoot to the north and to depth with mineralization remaining open in both directions. Results are also reported for the initial infill drilling being carried out in the central portion of the Trinidad deposit for purposes of conversion of Inferred Mineral Resources to an Indicated Mineral Resource classification.
Jorge A. Ganoza, President and CEO, commented, "We are excited by the consistency of the discovery holes drilled north of Trinidad, where we are starting to configure a new wide and high grade silver and gold mineralized shoot that remains open on two directions.
Peabody Energy Announces Results For The Quarter Ended March 31, 2013
- First quarter revenues of $1.75 billion drive Adjusted EBITDA of $280 million - Diluted Loss Per Share from Continuing Operations totals ($0.05) - Cost containment initiatives benefit earnings and lead to additional $200 million indebt repayment - U.S. generation on pace to recover up to 75% of lost 2012 demand - China and India expected to import record coal volumes
Peabody Energy (BTU) today reported first quarter 2013 revenues of $1.75 billion, leading to Adjusted EBITDA of $280.1 million. Loss from Continuing Operations totaled ($10.3 million) with Diluted and Adjusted Diluted Loss Per Share from Continuing Operations of ($0.05).
Quarterly Consolidated Gold Sales - US$15.0 Million for the Quarter Ended March 31, 2013 - US$14.9 Million for the Quarter Ended March 31, 2012
Quarterly Consolidated Gold Production - 9,253 Ounces of Gold for the Quarter Ended March 31, 2013 8,736 Ounces of Gold for the Quarter Ended March 31, 2012
New Dawn Mining Corp. (TSX: ND) ("New Dawn" or the "Company"), a junior gold company focused on developing its gold mining assets and operations in Zimbabwe, reported consolidated gold production for the quarter ended March 31, 2013 of 9,253 ounces (8,612 ounces attributable to New Dawn, after adjusting for the minority interests' share of gold production), as compared to consolidated gold production for the quarter ended March 31, 2012 of 8,736 ounces (7,926 ounces attributable), an increase of 5.9% (8.7% increase on an attributable basis).