Canadian Mining Perspective: Barrick target of yellow journalism
Toronto’s Barrick Gold, being the world’s biggest gold miner, is also on the receiving end of the world’s worst media abuses. “Yellow journalism” has not gone out of style, and today the Internet provides the means of spreading disinformation worldwide at speeds unheard of a century ago.
Case in point. Headline: “Deadly toxin invades Barrick’s Dominican gold mine, Thousands hospitalized.”
Those are eye-catching words, but no more accurate than the picture of artisanal miners identified as the “Barrick Gold mine in Coui, Dominican Republic” used to illustrate the article.
The article posted at www.BusinessInsider.com went on to say that over 1,000 people were felled by an unknown chemical so toxic that health care workers who attended them had to wear masks. It also reported a boiler explosion at the site that may have been the root of the problem. Read more
SLAM announces $75,000 financing
SLAM Exploration Ltd. announces a private placement of 1,000,000 Units at a price of $0.075 per Unit for proceeds of $75,000. Each Unit is comprised of one common share and one share purchase warrant. Each warrant entitles the holder thereof to acquire one non-flow-through common share at a price of $0.10 per share for a period of 24 months. The Units are subject to a four-month hold period from the closing date.
SLAM expects to close this placement on March 30. Proceeds will be used for working capital and general corporate purposes. This private placement is subject to final approval of the TSX Venture Exchange. For further information, call Mike Taylor at 506-627-1353 or toll-free 866-523-6719.
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Mansfield Minerals Announces Positive Pre-Feasibility Results: 161,000 oz Average Annual Production in Years 1-5 at US$373/oz Cash Cost
Mansfield Minerals Inc. is pleased to announce the results from a National Instrument 43-101 compliant pre-feasibility study (the “Study”) for its 100% owned Lindero gold project in Salta Province, Argentina. The Study was completed by AMEC Americas Limited (”AMEC”) in association with American Au Ag Associates and Kappes Cassidy & Associates. The complete Study will be filed on SEDAR and the Company’s website within 45 days of the issue of this press release. The Study contemplates conventional open pit mining operation and heap leach gold recovery. Over the initial three years of production 31.9 million tonnes of ore will be mined at an average grade of 0.81 grams/tonne containing 830,000 oz of gold. Leach kinetics provide for the recovery of 499,700 oz/gold in Read more
NovaGold Resources Inc.: Donlin Creek Gold Reserves Increased by 4.3 Million Ounces
NovaGold Resources Inc. (TSX:NG)(NYSE Amex:NG) today released an updated reserve/resource estimate for its Donlin Creek gold project. Donlin Creek is owned equally by NovaGold and Barrick Gold U.S. Inc. and managed by the Donlin Creek LLC.
The reserve/resource estimate was completed by an independent engineering firm under the supervision of the Donlin Creek LLC using a gold price of US$825/oz, increasing the in-situ gold reserve by 4.3 million ounces to 33.6 million ounces of gold on a 100% basis. NovaGold’s 50% interest totals 16.8 million ounces of gold reserves, with an additional 2.1 million ounces of measured and indicated gold resources and 2.2 million ounces of inferred gold resources. Read more
Carpathian Receives a Positive Preliminary Economic Assessment for its Rovina Valley Gold-Copper Project, Romania
Carpathian Gold Inc. is pleased to announce the results of the NI 43-101 compliant Preliminary Economic Assessment Study (”PEA” or the “Study”) on its 100% owned Rovina Valley Gold-Copper Project (”RVP” or the “Project”) located in the Golden Quadrilateral mining district of west-central Romania. The PEA was compiled by a consortium of engineering companies led by PEG Mining Consultants Inc. (”PEG”) of Ontario, Canada. The Project includes three proximal gold-copper porphyries discovered and delineated by Carpathian and named from north to south, Rovina, Colnic, and Ciresata. All three porphyries occur along a north-northeast trend over a distance of 7.5 km. Since 2006 Carpathian has completed 71,375 metres of diamond drilling culminating in the discovery of the third porphyry, the ‘blind’ Ciresata deposit in 2008. The Ciresata deposit has the highest gold grade of the three porphyries and is presently open at depth and laterally. The PEA is based on the NI 43-101 compliant resource estimate released on November 17th, 2008, which defined a total of 193.1 Mt at 0.49 g/t Au and 0.18% Cu for 3.07 million ounces Au and 759.1 M lbs Cu (5.09 Moz Gold Equivalent (”Au-eq”*)) in the measured + indicated resource categories and 177.7 Mt at 0.68 g/t Au and 0.17% Cu for 3.89 million ounces Au and 663.1 M lbs Cu (5.66 Moz Au-eq*) in the inferred resource category. Read more
Mine Development by Barrick Gold Temporarily Halt, Waiting Analysis Environments Results
Barrick Gold Corp., the expansion of a mine in Nevada should be suspended until the federal government completes an environmental review to comply with an order from the appeals court, American Indian tribes said today.
An appeals court in San Francisco on December 4 ordered U.S. Judge Larry Hicks in Reno, Nevada, to limit production of the mine to a study of the effect of extraction of ore by the Bureau of Land Management, or BLM. Specifics were left to Hicks.
“There is no doubt that the Cortez Hills project will result in irreparable damage to the environment and the tribes, the Shoshone Indians said in court papers filed in federal court in Reno today. “An injunction suspending the project is necessary to BLM complies with the law.”
The tribes claim the company and the government failed to analyze the effect of air pollution caused by transportation of ore to a processing plant in Cortez Hills, an expansion of the mine from Barrick Cortez. Read more
