Starfield and Thanda Resources Go on Joint Hunt for Diamonds
Starfield Resources and Thanda Resources will combine forces to explore for diamonds at Starfield’s Ferguson Lake project in Nunavut, Canada.If resources are found, the companies will also develop the project.Under the agreement, Thanda will initially earn a 50percen participating stake in the joint venture by paying $6.5m towards cumulative exploration expenditure over a three-year period.
Thanda president Sheila Ogilvie-Harris said the company has already identified several targets and will start its initial drilling programme this month. Read more
Centerra Gold Reports First Quarter Results
ONTARIO (This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 10 and in our Cautionary Note Regarding Forward-looking Information on page 14. All figures are in United States dollars).
Centerra Gold Inc. today reported a first quarter net loss of $20.3 million or $0.09 per common share based on revenues of $98.4 million compared to earnings before unusual items of $23.7 million or $0.11 per common share on revenues of $112.7 million in the same quarter of last year. Read more
Centerra Gold Reports First Quarter Results
Centerra Gold Inc. (TSX: CG) today reported a first quarter net loss of $20.3 million or $0.09 per common share based on revenues of $98.4 million compared to earnings before unusual items of $23.7 million or $0.11 per common share on revenues of $112.7 million in the same quarter of last year.
Consolidated gold production for the first quarter of 2009 totaled 103,204 ounces at a total cash cost of $871 per ounce produced compared to 120,395 ounces at a total cash cost of $610 per ounce produced in the corresponding quarter of 2008. Cash provided by operations, net of working capital changes was $10.8 million compared to $28.0 million in the first quarter of 2008. (Total cash cost is a non-GAAP measure and is discussed under “Non-GAAP Measures” in the Management’s Discussion and Analysis issued in conjunction with this news release). Read more
Klondike Gold Announces ‘Sullivan’ Exploration Program
The management of Klondike Gold Corp. (CA:KG: news, chart, profile) is pleased to report that under the expert direction of Trygve Hoy, Ph.D. P.Eng, Klondike Gold has completed several comprehensive exploration programs in search of Sullivan type lead-zinc-silver mineral deposits in southeastern British Columbia. The Sullivan mine at Kimberley, B.C. closed in 2001 after producing in excess of 130 million tons of approximately 6.9% lead, 5.1% zinc and 67 g/t silver which, at today’s metal prices, would be valued at several tens of billions of dollars. The Sullivan Mine, and the Sullivan basin in which it sits, is in an area most often studied as befits its position as a truly world-class deposit. While the goal for Klondike Gold is obvious, that being to replicate the discovery of the Sullivan mine, the exploration process and anticipated successes require an analytical ability and level of expertise which Dr. Hoy unequivocally possesses. He has worked in the mining field for over forty years, twenty-five years with the provincial government throughout British Columbia, a further eight years studying and exploring for a “second” Sullivan, and as a consultant for a number of mining exploration companies throughout Canada. He is an author and award winner in the mining field and his experience and understanding of the Proterozoic Purcell Basin is unparalleled anywhere in the world. Read more
ValGold Resources has all Pistons Firing in South America, Canada
The word for ValGold (TSX.V: VAL) is “busy”. In conversation, they’re upbeat and enthusiastic about their new Venezuelan and Guyanan acquisitions, “Literally just waiting for the equipment to arrive”, according to Investor Relations Officer Jeff Stuart. In the meantime they’re drilling, compiling data from past drill programs and building a vast knowledge base – from scratch in some cases.
In late November, the company announced high-grade assays from the Tower Mountain Gold Property, located in the Matawin Gold Belt, 40 km southwest of Thunder Bay, in Ontario. Intersections of high-grade gold occurred in TM-07-56, where 1.5m graded 58.20 g/Tonne Au (1.697 oz/t gold) and in TM-07-58 where 1.5m averaged 18.70 g/Tonne Au (0.545 oz/t gold). Read more
