http://www.members.gold.org/news/ World gold council members comprise gold mining companies from around the world en info@gold.org Copyright 2008 http://www.members.gold.org/news/2008/07/03/story/9663/evaluation_completed_at_kinkaid http://www.members.gold.org/news/2008/07/03/story/9663/evaluation_completed_at_kinkaid
Rock samples from the site have returned initial results of gold grading up to 28.6 grams per ton of gold. Around 32 samples from the 171 collected reported a gold assay of more than one gram per ton.

Other sample results include 6.72 grams per ton across 2.4 metres, 17.4 grams per ton across 0.6 metres and 4.6 grams per ton across three metres.

The company said it bought the Kinkaid property for its "bonanza vein and hot springs potential".

At the Gold Lake property in New Mexico the company plans to drill around 3,000 metres during the initial programme.

High Desert Gold also has properties in Mexico.

These include the Canasta Dorado in the Sonora Gold Belt, which has seven concessions across 448 sq km.

]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9664/estimate_released_for_detour_lake_project http://www.members.gold.org/news/2008/07/03/story/9664/estimate_released_for_detour_lake_project
Since the completion of Phase I, Detour Gold has added 73,469 metres of drilling to the project which represents 54 per cent of Phase II.

Results from this drilling have found a 125 per cent increase in inferred gold resources.

This is an indicated increase of 4.8 million ounces to 10.8 million ounces.

Indicated resource estimated decreased from three million ounces to 2.4 million ounces, a decrease of 20 per cent.

Gerald Panneton, president and chief executive officer of Detour Gold, said: "There is excellent potential to further increase the resource base especially to the west of the Calcite Zone and below the former open pit."

Due to this, Mr Panneton said an extra 30,000 metres of drilling has now been added to the Phase III part of the programme.

With 20 million shares, Pelangio Mines has a 44.6 per cent equity interest in Detour Gold.

Pelangio has projects in Canada and in Ghana.

]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9665/company_buys_10percent_of_martabe http://www.members.gold.org/news/2008/07/03/story/9665/company_buys_10percent_of_martabe
The $66.5 million (£33.44 million) will be used partially to add gold production to the Martabe project in North Sumatra.

PT Aneka Tambang, or Antam as it is also known, has the option to acquire a further ten per cent in the project for another $66.5 million.

In the future an additional five per cent may be bought by Antam for an amount dependent on the market value of the project at the time.

Production at the mine is due to start in late 2009 with an estimated production rate of 200,000 ounces of gold per year. This is based on an estimated resource of six million ounces.

Mining at the Martabe project is predicted to have a mine life of nine years.

It will cost around $310 million to construct the gold operation.

"Antam's expertise and place in the Indonesian mining sector makes it an excellent strategic partner for Oxiana as it aims to expand its business in Indonesia," Oxiana said.

Oxiana also has operations in Laos and Australia.
]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9666/phase_iii_completed_at_don_nicolas http://www.members.gold.org/news/2008/07/03/story/9666/phase_iii_completed_at_don_nicolas
The results come from 14 holes across four veins at the project.

Around three drill holes were started in the Reyna vein with results reporting 2.05 g/t of gold across 5.85 metres. Within this interval was a grade of 9.25 g/t of gold across 0.8 metres.

At the Coyote Sur vein, the average grading was 11.57 g/t of gold across 27 metres. This included 7.39 g/t of gold across 1.92 metres.

In the Coyote Norte vein, one drill hole reported a result of 8.7 g/t of gold across 23.21 metres.

Phase III of the drill programme was completed in April this year and totalled 60 holes across 7,367 metres.

The gold project is located in the Santa Cruz Province, Argentina.

Hidefield Gold has another property in Argentina, along with properties in Brazil, Alaska and Canada.
]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9667/initial_results_given_for_tabakoroni_zone http://www.members.gold.org/news/2008/07/03/story/9667/initial_results_given_for_tabakoroni_zone
Results so far include 11.6 g/t of gold across 44 metres which included 30.6 g/t of gold across nine metres.

Another result found a grade of 16.2 g/t of gold across 16 metres and within this interval was a result of 56.3 g/t of gold across four metres.

The Porphyry zone at Finkolo also reported results for 11 drill holes. These include 2.2 g/t of gold across nine metres, two g/t of gold across four metres and 1.1 g/t of gold across seven metres.

Don Burton, vice president of corporate development and chief operating officer, said: "These results are demonstrating that the mineralisation at Finkolo continues to at least 300 vertical metres.

"We look forward to receiving the results from the remaining deep drill holes."

The zones are both located in Mali.

Etruscan Resources has been exploring for gold in Africa for more than 13 years.

]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9668/gold_mining_results_are_unbelievable http://www.members.gold.org/news/2008/07/03/story/9668/gold_mining_results_are_unbelievable
Last month Golden Tag Resources reported it has found 12,906.5 g/t of gold across 0.2 metres in the Lingo Gold Occurrence.

Another result from the same drill hole returned 3,230.9 g/t of gold across 0.8 metres.

Other results from the property include 90.6 g/t of gold across 0.25 metres, 70.1 g/t of gold across 0.32 metres and 11.54 g/t of gold across 2.05 metres.

In 2003, Golden Tag Resources acquired a two stage option for the Aquilon Main property, the first to buy 40 per cent interest in the project and the second to increase this to 60 per cent.

Golden Tag has properties mainly in James Bay, Quebec and Red Lake, Ontario.

Recently it acquired a 50 per cent interest in the San Diego property in Mexico by spending a total of $1.5 million in exploration over three years at the site.


]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9669/peruvian_gold_property_bought_by_new_dimensions http://www.members.gold.org/news/2008/07/03/story/9669/peruvian_gold_property_bought_by_new_dimensions
The company has two options; the first agreement will allow it to purchase the Chen Six property for $2 million (£1 million) over five years after an initial payment of $25,000.

According to the second option, New Dimension Resources will be able to buy the Puma Dorado property for $1.5 million over five years following an initial payment of $15,000.

The Puma Dorado property, which is located near Querobamba, has two 1,000 hectare concessions.

Early sampling at the property has returned a range of 0.5 to 3.2 g/t of gold from the magnetite zone which covers 1,700 metres by 500 metres.

Follow up sampling of 12 rock chips found an average of 0.92 g/t of gold. Of these, four assayed over one g/t of gold.

New Dimension Resources has exploration projects in Nevada, Canada and Peru. In May this year it made an agreement to buy a 65 per cent interest in the East Walker gold project in Nevada.
]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9670/connor_creek_property_results_released http://www.members.gold.org/news/2008/07/03/story/9670/connor_creek_property_results_released
Around 1850.49 metres were drilled across three main target areas.

The first, the EM zone, had six holes drilled on the site totalled 607.22 metres.

Results in this area include 2.1 gm/t of gold across one metre, 0.84 gm/t of gold across 2.51 metres and 0.41 gm/t of gold across 1.63 metres.

Around four holes were drilled at the second zone, the CC Shear target, across 461.46 metres.

This zone reported results of 0.55 gm/t of gold across two metres, 0.7 gm/t across two metres and 1.09 gm/t of gold across four metres.

Finally, the Root target found 0.7 gm/t of gold across 1.69 metres, 2.38 gm/t of gold across 1.18 metres and 0.6 gm/t of gold across one metre.

Last month Kootenay announced with its joint venture partner Astral that it has found a result of 10.05 g/t of gold across 7.5 metres at the Jumping Josephine gold property in British Columbia.
]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9671/phase_iii_completed_at_don_nicolas http://www.members.gold.org/news/2008/07/03/story/9671/phase_iii_completed_at_don_nicolas
The results come from 14 holes spread across four veins at the project.

Around three drill holes were started in the Reyna vein with results reporting 2.05 g/t of gold across 5.85 metres. Within this interval was a grade of 9.25 g/t of gold across 0.8 metres.

At the Coyote Sur vein, the average grading was 11.57 g/t of gold across 27 metres. This included 7.39 g/t of gold across 1.92 metres.

In the Coyote Norte vein, one drill hole reported a result of 8.7 g/t of gold across 23.21 metres.

Phase III of the drill programme was completed in April this year and totalled 60 holes across 7,367 metres.

The gold project is located in the Santa Cruz Province, Argentina.

Hidefield Gold has another property in Argentina, along with properties in Brazil, Alaska and Canada.

]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/03/story/9672/alexandria_and_niogold_sign_agreement http://www.members.gold.org/news/2008/07/03/story/9672/alexandria_and_niogold_sign_agreement
The Siscoe East property in Quebec consists of 61 claims owned by Alexandria Minerals and 37 claims which the company has earned a 70 per cent interest in from NioGold Mining.

NioGold will be able to earn this 50 per cent interest in the 61 claims by giving Alexandria Minerals 650,000 shares in three parts before June 2010 and by spending $750,000 on exploration at the site by the same deadline.

Following the completion of these terms, NioGold will become the joint venture partner of Alexandria Minerals.

In total, the claims cover an area of 2,603 hectares.

Siscoe East is situated between the Sullican mine which has produced 1.2 million ounces of gold and the Siscoe mine which has produced 880,000 ounces of gold.

Last month Alexandria Minerals announced it had intersected 2.25 g/t of gold across six metres at its New Target site in Ontario.
]]> Thu, 03 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9651/gold_coin_introduced_during_celebrations http://www.members.gold.org/news/2008/07/02/story/9651/gold_coin_introduced_during_celebrations
The coin was created to help commemorate the 110-year anniversary of South African National Parks conservation, the news portal said.

Celebrations for the anniversary took place throughout the Kruger National Park which was established in 1898.

On the coin is a logo saying "110 Years KNP" and 110 of the coins have been reserved for visitors to the national park.

Iafrica reported that each coin was created using an antique hand press which was used by the South African government-in-exile during the South African War between 1899 and 1902 to manufacture money.

The 19,000 sq km space is designated as a peace park - it has no borders and joins with the Gonarezhou national park in Zimbabwe and the Limpopo national park in Mozambique to create a 35,000 sq km area.

South African national parks also include Table Mountain, Golden Gate and Addo Elephant.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9652/results_for_el_rey_property_released http://www.members.gold.org/news/2008/07/02/story/9652/results_for_el_rey_property_released
The result comes from the El Rey property in Mexico, one of four owned by Gold Resource Corporation in the country.

Other results from the same hole include 65.7 g/t of gold across two metres and 11.85 g/t of gold across one metre.

"Though our main focus has been and will continue to be bringing the company's flagship El Aguila project into production, we are evaluating the possibility of blending El Rey's high-grade gold mineralisation into our first year's production schedule," said Mr William W Reid, President of Gold Resource Corporation.

A mill for the El Aguila project is currently under construction.

In May this year, Gold Resource Corporation announced a result of 142.5 g/t of gold across 1.3 metres at its La Arista deposit in the El Aguila project.

Other properties in Mexico belonging to the mining company include Las Margaritas and Solaga.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9653/third_gold_mine_for_burkina_faso http://www.members.gold.org/news/2008/07/02/story/9653/third_gold_mine_for_burkina_faso
The Mana mine is expected to produce 3.6 tons of gold per year and is to be operated by Semafo.

Exploration by the Toronta-based company in 1998 found an estimated reserve of 35 tonnes, the news agency said. Since March 31 2008, Mana has produced 400 kilos of gold.

Mining officials told Reuters that total reserves in the mine could be as high as 100 tonnes.

Mines, Quarries and Energy Minister Abdoulaye Abdoulkader Cisse said: "Exploitation of the Mana mine will bolster the state's budget by an average of 15.5 billion CFA francs (£18.78 million) per year, in mine royalties and taxes, to which dividends will be added."

Also in Burkina Faso are the Taparko-Bouroum mine which is owned by High River Gold Mines and the Youga mine which is operated by Etruscan Resources.

In October another gold mine is set to be opened in Kalsaka, reported Reuters.

The capital of Burkina Faso is Ouagadougou. The country was given its name in 1983 and translates as "land of honest people".
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9654/huntmountain_buys_el_capitan http://www.members.gold.org/news/2008/07/02/story/9654/huntmountain_buys_el_capitan
The concession is located in the Chinipas district of Chihuahua.

HuntMountain's subsidiary, Cerro Cazador, bought the concession outright.

The project covers 20,000 acres and is located within the Sierra Madre Gold Belt.

Preliminary exploration at the site has result samples of 2.06 g/t of gold, 0.55 g/t of gold and 0.69 g/t of gold.

The company said exploration at El Capitan will begin in autumn this year.

President and chairman of HuntMountain Tim Hunt said: "Chihuahua State, Mexico has a rich mining history going back four hundred years, and we are determined to continue the story through additional discoveries and subsequent mining of precious metal deposits."

Also in the area is the Dolores, Mulatos, Ocampo and El Sauzal projects.

HuntMountain has properties in North and South America. This includes 443 sq miles in the Patagonia area of Argentina.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9655/gold_jewellery_store_opens_in_wisconsin http://www.members.gold.org/news/2008/07/02/story/9655/gold_jewellery_store_opens_in_wisconsin
Modern by Megean will offer a range of ethically-sourced white gold, yellow gold jewellery among other gemstones and jewels.

The store will also sell fair trade or recycled luxury items such as scarves and handbags.

"Buying jewellery that is green means that the companies producing these goods have concerns for preservation, restoration or improvement of the natural environment," Megean Beck, owner of the store, said.

Open in the former Times Jewellery location, the shop has two on-site goldsmiths to help customers.

In related news, the US announced this week it was to stop giving duty free tax breaks to gold necklaces imported from India and from Turkey.

This will affect $266 million (£133.5 million) worth of gold necklaces imported from India and $233 million worth of jewellery from Turkey.

Around 99 products from 15 countries will continue to receive duty free benefits.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9656/lone_star_details_revealed http://www.members.gold.org/news/2008/07/02/story/9656/lone_star_details_revealed
A study for the project discusses the economic viability of the deposit and also the socio-economic considerations needed to be taken into account before starting the project.

The project is expected to have a mine life of ten years and process approximately 27,000 tons a day of gold-bearing ore.

It is estimated the Lone Star deposit would produce 271,000 ounces of gold a year with an assumed head grade of around one g/t. This could potentially be achieved if the deposit was in production for 24 hours a day, 330 days a year.

Hans Boge, president of the company, said: "Through its comprehensive, proactive and holistic approach to mine feasibility planning, Klondike Star believes it will cut years from the environmental and socio-economic assessment, mine authorization and permitting processes."

Klondike Star has eight properties in Yukon, Canada. Of these, seven are located in the Tintina gold belt.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9657/results_announced_for_central_sun_mine http://www.members.gold.org/news/2008/07/02/story/9657/results_announced_for_central_sun_mine
Around 14 holes have been drilled in the area, totalling 4,441 metres as part of a 10,000 metre programme.

Of the deposits in the area, the Santa Pancha has a reserve grade of around 5.6 g/t of gold and is being mined at the 100 metre level. It has the highest grade of gold in the Limon mine region.

Other significant results from the Limon mine include 8.76 g/t of gold across 15.4 metres, 6.7 g/t of gold across 6.6 metres and 7.43 g/t of gold across 3.8 metres.

Peter Tagliamonte, president and chief executive officer of Central Sun Mining, said: "With the ongoing exploration program we are confident in our ability to define this new discovery and to grow it into a considerably larger production base for the Limon Mine."

The company has also identified new zones at the Orosi mine. Around 7,140 metres of drilling in 40 holes have so far been completed at the site as part of 10,000 metres which have been planned.

Both the Orosi and Limon mine are based in Nicaragua.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/02/story/9658/results_released_for_haveri_gold http://www.members.gold.org/news/2008/07/02/story/9658/results_released_for_haveri_gold
The assessment measured 6.9 million tons and found an indicated mineral resource of 1.37 g/t of gold equivalent to 308,663 troy ounces of gold.

"A huge amount of work with geological interpretations and metallurgical studies has been performed to estimate the size of the deposit," said Lappland Goldminers AB chief executive officer Karl-Ake Johansson.

He said this means the deposit can now be considered economically viable to mine.

In addition, Mr Johansson said the mineral resource found during exploration at the Haveri Gold project has given the company the base needed to continue developing operations in the area.

Last month, Lappland Goldminers broke ground at the Faboliden gold project. The company said project in Finland may become one of the largest gold mines in Europe.

In May, the Supreme Environmental Court in Finland gave the official go-ahead for the development of the Faboliden gold project.
]]> Wed, 02 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/01/story/9642/aultra_gold_is_on_the_lookout_for_funding http://www.members.gold.org/news/2008/07/01/story/9642/aultra_gold_is_on_the_lookout_for_funding
The company estimates initial funding could be received within two weeks.

Alongside funding, Aultra Gold is also seeking candidates for acquisition and mergers in order to increase the size and diversification of the company.

"We are acquiring properties that allow cost effective evaluation and development, with potential for strong cash flow," said Rauno Perttu, president of Aultra Gold.

He said the strategy pursued by the company is to raise capital to advance Aultra Gold's properties such as Jungo and Basin Gulch and to acquire more high quality properties.

The Basin Gulch property in Montana has as estimate of over 2.45 million ounces of gold.

Exploration at the property consisted of 323 drill holes across 90,000 feet and 17,000 feet of trenches.

Jungo, in Nevada, produced a sample of 0.1 ounce per ton of gold during exploration.
]]> Tue, 01 Jul 2008 00:00:00 +0100 http://www.members.gold.org/news/2008/07/01/story/9643/gold_can_make_objects_disappear http://www.members.gold.org/news/2008/07/01/story/9643/gold_can_make_objects_disappear
Graeme Milton, a mathematician at the University of Utah, said theoretically an object called a superlens can make a small object invisible, according to CNN.

Models made by Mr Milton and his collaborators in Australia found that when light hits the superlens, it reverses and so an item may seem to have vanished.

"We've seen it numerically - not in practice, but we've got a theoretical proof that collections of particles become invisible," he said.

Mr Milton said that if the superlens was created in reality, very thin gold could produce the same effect.

David Smith, a professor of electrical and computer engineering at Duke University, made microwaves in light invisible in 2006 by using electromagnetic waves, according to National Geographic.

He said objects as large as a truck could be made invisible in principle.

"We just don't know how to do it yet".
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