Preliminary Data Indicates Presence of Gold, Diamonds, and Bauxite in Equatorial Guinea
Sillenger Exploration Corp. an innovative and progressive mineral exploration and claims management company with experience in mining and Business Process Management in Africa, the historical geological and geophysical data for the Rio Muni region of Equatorial Guinea.
Preliminary assessment of the data shows a number of different sites in Rio Muni, which indicate the presence of minerals, especially gold, iron ore, diamonds, bauxite and colombo-tantalum. With the exception of some small-scale placer gold mining, the country has currently no commercial mining. The data were provided by the Ministry of Mines, Industry and Energy in advance of the airborne geophysical survey, which is expected to begin in July.
The upcoming research will contribute to the potential locations of visible deposits, and provide a more detailed reading of the underground structures.
As previously announced, Sillenger, through its relationship with African FCMI Global Inc and its affiliates, has a contract with the Government of Equatorial Guinea to an airborne geophysical survey of the Rio Muni region (27,000 square kilometers) of the conduct Equatorial Guinea, and 30 km from Continental Platform (4,500 square kilometers) from the Atlantic coast. Under the contract Sillenger (FCMI) will be granted exploration mining concessions, including oil and gas concessions, which are revealed by the survey. Read more
Announces Change of name for AM Gold Inc. and Changes to Board of Directors
Acero-Martin Exploration Inc. is pleased to announce that new new published May 20, 2010, the Company changed its name to AM Gold Inc. Effective June 8, 2010. There is no consolidation of capital. From the opening June 8, 2010, Acero-Martin Exploration Inc. will commence trading on the TSX Venture Exchange under the name of AM Gold Inc.
Issued Capital: 37,561,732 shares common.; Of Commitment: none; transfer agent: Computershare Trust Company of Canada
Symbol: AMG (unchanged) CUSIP No.: 001705102 (new); ISIN No.: 0017051024 (new)
The Company also wishes to announce that Mr. Gerald Aberle M has been appointed to the Board of Directors of the Company to replace Winston Wong.
Mr. Aberle graduated in 1980 from South Dakota School of Mines and Technology with a Bachelor of Science in Mining Engineering and has over 30 years experience in the minerals industry, including 22 years with Homestake Mining Company in the Homestake gold mine in Lead, South Dakota. Mr. Aberle deep mines includes engineering, operations management and project management experience. Read more
Obama extends drilling moratorium as BP fights oil spill
BP said it was connected to progress in its rupture of the Gulf of Mexico and oil, on Thursday that President Barack Obama has fought criticism that his government was slow to respond to the crisis.
Government calculations of the amount of oil spitting in the ocean have shown the disaster eclipsed the previous worst oil spill in the United States, the Exxon Valdez disaster that has marred the Alaskan coast in 1989.
Saying he was “angry and frustrated,” Obama announced a six-month extension of the moratorium on permits for deepwater drilling new oil while the Commission investigates the causes of the disaster.
The move is a setback for the offshore exploration and a potential blow to efforts for the Obama energy policy of the United States rejig.
The political tide claimed its most prominent victim in the head of the government agency that oversees offshore oil drilling has resigned.
Million gallons of oil spilled into the Gulf for an April 20 blast on the Deepwater Horizon platform that killed 11 workers and triggered the spill, the pollution of 100 miles of coastline, threatening some of the richest fishing countries and threatens a fragile ecosystem already battered by Hurricane Katrina in 2005. Read more
Mindoro Issues Incentive Stock Options
Mindoro Resources Ltd. today announced that incentive stock options have been granted to directors and officers of the Company to purchase 1,450,000 common shares at an exercise price of $0.19 per share for a five year term. The grant of incentive stock options provides long term incentive to the Company’s key personnel and further ensures that the interests of the Company’s personnel are aligned with the interests of the Company’s shareholders. All grants are subject to regulatory approval.
ABOUT MINDORO
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on exploration in the Philippines with a strategy of advancing early stage opportunities to production or joint venture. Mindoro controls major nickel laterite resources in the Surigao District, Mindanao, where potential for a direct shipping ore (DSO) operation to generate early cash flow is being investigated as well as large scale potential for an onsite processing plant. Read more
Mineral Exploration Property Valuation By Jon Russill
The valuation of mineral exploration properties generally fall into two broad categories, those with defined mineral resources and those without. The valuation technique used is different in each case and is in all cases dependent upon the level of knowledge regarding the continuity of grade and geology. A valuation is therefore more robust and quantitative as the available data increases in quality and quantity.
There are numerous reasons why mineral exploration and mining companies should consider valuation of their projects. This may be for mergers, acquisitions, sales or simply internal project ranking. During periods of “depressed” exploration activity there are good opportunities for funded exploration companies to build portfolios of good exploration assets at minimal cost.
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Mining Companies, Tibet Mineral Development To Develop Lithium Mining Project
Reported by Chinese news agency, Xinhua, mining company Tibet Mineral Development focus on developing lithium mining project in Salt Lake. Lithium mining project is estimated to have reserves of lithium carbonate to reach 2.4 million tons. The company plans to produce lithium carbonate in the first phase of 5,000 tons and the second phase of lithium production can reach 20,000 tons.
Tibetan mining company Mineral Development has hopes of becoming the largest lithium producer in China and became the main platform for restructuring the mining industry in Tibet.
Tibet Mineral Development Co is a mining company that has a 40 percent stake in mining company Shengyuan Mining Group Corporation. Mining company has several exploration projects of mining mineral resources. Read more
