Goldsource Drills 126.5 Metre Coal Zone Intercept, Completes Winter Program
Goldsource Mines Inc. is pleased to report that it has completed drilling 27 core holes for the winter 2009-10 exploration program at its wholly-owned Border Project (”Border”) located near Hudson Bay, Saskatchewan, Canada which encountered several thick coal zones including 126.5 metres in the Niska 107 deposit. Drilling to date has discovered 17 coal deposits at Border with good potential for additional coal discoveries (see attached map: http://media3.marketwire.com/docs/gs.jpg). The winter program also included 5 drill holes on the Ballantyne property as well as 8 holes on the Company’s quarry claims in Manitoba.
Current coal resources at Border, as established in the Company’s NI 43-101 “Technical Report on the Border Coal Property, Resource Estimation” prepared by Moose Mountain Technical Services dated December 24, 2009 and available at www.sedar.com, include: Read more
PetroBakken Completes Plan of Arrangement With TriStar
CALGARY, ALBERTA-PetroBakken Energy Ltd., Petrobank Energy and Resources Ltd., and TriStar Oil & Gas Ltd. are pleased to announce the closing of the plan of arrangement whereby the companies have completed a strategic combination of TriStar and Petrobank’s Canadian Business Unit. The combination has resulted in PetroBakken, a new publicly listed company, that is a premier, Bakken-focused, light oil exploration and production company. It is anticipated that the PetroBakken shares will commence trading on the Toronto Stock Exchange under the symbol “PBN”, on or about October 6, 2009. Read more
Solitaire Minerals Corp. Acquires Princeton Land Package Bordering the Copper Mountain Mining Deposit
VANCOUVER, BC– Solitaire Minerals Corp. announces that it has an option to earn a 100% undivided interest in the Princeton land package comprised of 10 claim units totalling 10,254 acres, of which 2,547 acres immediately borders the Copper Mountain Mining Deposit in Princeton, British Columbia.
The targeted commodities in this region are copper and gold. Historical exploration on a portion of this land package through chip and channels sampling yielded values up to 0.823% Copper, 0.62 gpt Gold, and 2.70 gpt Silver. The mineralization consists of chalcopyrite and extensive malachite staining developed along mineralized fractures. These assays have been posted by the BC Geological Survey on the Ministry of Energy, Mines and Petroleum Resources website and can be verified under MinFile Numbers 092HNE024 and 092HSE113. Read more
FairWest Announces Closing of Private Placement and Corporate Matters
bCALGARY, ALBERTA–(Marketwire – Sept. 16, 2009) – FairWest Energy Corporation announces that the Company closed a non-brokered private placement of $1,250,000 of Units. Each Unit is priced at $0.20 and is comprised of two Flow-Through Common Shares priced at $0.10 per share and one purchase warrant to acquire one Flow-Through Share of the Company . Each full Warrant is exercisable for one Flow-Through Share of the Company at a price of $0.10 per share until December 18, 2010. The Units were sold to enable the Company to initially reduce its working capital deficiency and within the next 12 months the funds will be utilized to drill and test the Company’s liquid rich natural gas properties in Provost, Alberta. The project will involve the drilling of a horizontal well with multi-stage fracs and the drilling of a number of conventional wells on the Provost properties. The shares issued in the private placement are subject to a four month hold and subject to final TSX approval. Read more
Canada Stocks Rise Most in 3 Weeks on Oil, Gold; Barrick Gains
Canadian stocks rose the most in three weeks, led by commodity producers, as prices of bullion and crude oil increased on escalating tensions in the Middle East and the declining U.S. dollar.
Barrick Gold Corp. climbed 10 percent, pacing gains among mining companies. EnCana Corp. gained more than 5.6 percent, leading oil and gas shares higher.
The Standard & Poor’s/TSX Composite Index rose 3.9 percent, to 8,637.29 in Toronto, the most since Dec. 10. Canada’s main stock benchmark has slid 38 percent in 2008 as falling commodity prices and global credit writedowns dragged down the energy, mining and finance shares accounting for 75 percent of its value.
“The Middle East violence is causing most commodities to move up,” Michael Smedley, who helps manage about $1.2 billion at Morgan Meighen & Associates in Toronto. “There’s some buying in the depressed commodity stocks. They could be short-term winners.”
About 320.1 million shares changed hands in Toronto today compared with the three-month daily average of 529.5 million. Canadian equity exchanges were closed Dec. 25 and Dec. 26 for the Christmas Day and Boxing Day holidays. U.S. stock markets opened for trading on Dec. 26.
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Canada Stocks Decline on Oil, Led by Canadian Natural, EnCana
Canadian stocks fell a second day, led by energy companies, after Canadian Natural Resources Ltd. lowered its production forecast and crude oil prices slid to a 19-month low.
Potash Corp. of Saskatchewan Inc. and EnCana Corp., the nation’s biggest natural gas producer, fell with grain and oil prices in Toronto, while Pason Systems Inc. climbed after declaring a semiannual dividend.
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