Explor to Begin New Diamond Drilling Program on Eastford Lake Property
Explored Resources Inc. welcomes the start of a 2700 meters drilling program on the Eastford Lake Gold Property, program that will focus on gold with intersecting shear zones that are intersected by a major fault structure announcing that trend in a northerly and easterly direction through the Lynx Gold Zone.
The main vein of the Lynx Gold Zone contains visible gold and it seems right to strike in a north-north-westerly direction and steeply dipping to the south southwest. The property is located in Kerr, Warden, Milligan Townships and the Rayner Lake area, south-west of Lake Abitibi, Ontario, 90 km east of the Timmins-Porcupine gold mining camp. The Eastford Lake Property consists of 170 contiguous unpatented mining units for a total of 3100 hectares.
A recent study done by Robert Tremblay of Val-d’Or aimed at identifying structural features and their correlation with gold mineralization. As a result of this investigation, the original interpretative geological map of the gold-bearing zone was developed. The drilling program is based on the positive results obtained in this study. The program is designated to the strike of high-grade mineralization that was found in Hole # 7 fixed. Read more
Black Diamond Announces New Horn River Development
Black Diamond Group Limited (TSX: BDI) (”Black Diamond” or the “Company”) is pleased to announce that, through its participation in the Black Diamond Dene Limited Partnership, has a 36-month lease obligation secured a major Canadian gas company for a new 418-person camp to the west of the Horn River Basin in northeastern British Columbia. The estimated $ 12 million project will be a base camp for resource development and is scheduled for completion and occupancy in November 2010. The camp will consist entirely of the executive, VIP-style accommodations and will feature a state-of-the-art kitchen and modern recreation.
Capital expenditure for this project falls within the company planned $ 99,000,000 of the CAPEX for 2010.
About Black Diamond
Black Diamond is an Alberta company, the main company, through its wholly owned subsidiaries, Black Diamond Limited Partnership, Nortex Modular Leasing and Construction Company, through its 50% equity interest in Denmark in Black Diamond Limited Partnership, is to rent modular structures for use as temporary housing and staff work space to rent various types of oilfield equipment to be used in exploration and production of oil and gas, and provide additional services such as transportation, installation, disassembly, repair and maintenance of modular structures and oilfield equipment, and related services through three operating divisions consisting of Black Diamond Camps, BOXX Modular and Black Diamond Energy Services. Read more
Diamond Drill Program 2009 Begins on High-Grade Madison Gold Copper Property in Montana, USA
Coronado Resources Ltd. has signed a diamond drill contract to reactivate exploration on its wholly owned Madison Gold & Copper Property in Montana, USA. Initial drilling is designed to expand the known mineralization of high grade gold and copper intercepts immediately below and on strike with the workings in the 500 foot level underground. This level developed exposed ore over 100 feet long and up to 20 feet wide which was followed upward 30 feet. Read more
Archangel Diamond Corporation Stockholm Arbitration Terminated
Archangel Diamond Corporation has been notified by the Stockholm Arbitration Tribunal that Uncitral Arbitration Case 074/2006 v. Arkhangelskoye Geologodobychnoe Predpriyatye has been terminated. The termination is without prejudice and each party shall bear its own costs with respect to its legal representation and assistance.
The Corporation’s re-structuring under Chapter 11 of the US Bankruptcy Code is proceeding in Colorado, USA. The Disclosure Plan for creditors and shareholders is scheduled to be presented to the Court for approval on October 30 and mailed to creditors and shareholders shortly thereafter. Read more
Canaco Resources Drills 41 Metres of 3.32 Grams Per Tonne-Confirms Continuity of Mineralization at Magambazi
Canaco Resources Inc. is pleased to announce assay results from drill holes recently completed as part of at the Company’s diamond drilling program at the Magambazi gold prospect, located in the Handeni region of the United Republic of Tanzania.
Interpretation of the drill hole data to date reveals that the “Magambazi Mineralized Zone” is a broad, intense siliceous alteration zone with sulphide mineralization and frequent occurrences of trace visible gold. Read more
Closing Gross Proceeds of a $682,775 Private Placement
Jourdan Resources is pleased to announce the closing of a non-brokered private placement for gross proceeds of $ 682,775 in which three directors and officers of the Corporation participated for total proceeds of $22,100. The proceeds from the private placement will be used for the diamond drilling program on the Company’s Baie Johann-Beetz Uranium Property, and for general working capital. Read more
