Intrepid Mines Limited AGM Chairman’s Address
Intrepid Mines Limited – With Governments around the world printing paper currency, like there is no tomorrow, this is an excellent time to be in gold and a producer. The urgency to fund stimulus packages, many of which have only a momentary benefit, will have a day of reckoning when inflation returns and re-emerges as the number one threat to world growth.
The associated uncertainty and anxiety has already manifested itself in significant increases in demand for gold coins and ingots, and in the growing popularity of precious metal ETFs where the underlying gold backing has grown from 27 M ounces to 46 M ounces since our last Annual General Meeting. Gold has definitely returned to favour as an asset class accelerated by the disappointments in real estate and equity markets. Read more
Mining Journal Projects Sizeable Increase in Resource Estimate for Orex Exploration
Mining MarketWatch Journal has published a review on Orex Exploration Inc. The review offers insight and opportunity afforded investors as Orex is on the verge of completing a new NI 43-101 resource estimate report on their 100% owned Goldboro Property in Nova Scotia, Canada. “From our research, we are confident the report will reveal a sizeable increase in the resource estimate, exceeding 2M ounces of gold. It appears OX.V is highly undervalued relative to the inherit nature of the Goldboro property and its potential. It appears OX.V is highly undervalued relative to the inherit nature of the Goldboro property and its potential.” Read more
NovaGold – Alaska gold mine
Vancouver-based NovaGold Resources is studying a range of options for its Rock Creek mine, in Alaska, including restarting the mine itself “when the market becomes more favourable”, bringing in an operating partner or possibly selling the asset.
Besides Rock Creek, NovaGold also owns 50% stakes in two big projects – Donlin Creek in Alaska and Galore Creek in British Columbia – but both are years away from production.
The company began commissioning Rock Creek last year, but after battling lower gold prices, higher costs, permitting difficulties and technical setbacks at the mine, the asset was placed on care and maintenance within months of starting up. Read more
Uruguay Mineral Exploration: Notice of Exploration Report
Uruguay Mineral Exploration Inc (”the Company”) (CA:UME: news, chart, profile) (UK:UGY: news, chart, profile) hereby gives notice that it will issue its Exploration Report for the fourth quarter ended 31 May 2008, on Thursday, 17 July 2008.
The report will be issued at 07:00 UK time and the Company will host a conference call for analysts and investors at 15:00 UK time on 17 July 2008. Dial-in and replay details for the conference call will be available in the Exploration Report.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Read more
HotWiredStocks.com Announces Major Drill Results From Houston Lake Mining Inc.
Houston Lake Mining Inc. (TSX.V: HLM, the “Company”) is pleased to announce results from the first 5 drill holes of a 17 hole, 2561m (8400ft) delineation drilling program on the 100% optioned Dogpaw Lake Property. The Dogpaw Lake Property forms part of the Company’s 100% owned and optioned 1310 hectare (3236 acre) West Cedartree Gold Project located near Sioux Narrows, Ontario.
All five drill holes encountered significant gold values in excess of 3.5 g/mt Au (0.100 oz/st Au). The 50 samples assayed from trace values to 435.6 g/mt Au (12.705 oz/st Au) and had an arithmetic average of 13.26 g/mt Au (0.387 oz/st Au). The best result was received from Drill Hole DP-2007-042 which yielded a core length intersection grading 29.90 g/mt Au over 7.50m (0.872 oz/st Au over 24.60 ft.). This hole was drilled in the vicinity of Drill hole DP-97-03 and served to confirm the reported historic drill results of 36.44g/mt Au over 8.00m (1.063 oz/st over 26.24ft). Drill hole DP-046 also encountered significant gold grading 13.37g/mt over a core length of 3.80 m (0.390 oz/st Au over 12.46ft) at an approximate depth of 72m (236ft). The next set of drill results are expected to be received within the next several weeks. Read more
