[Most Recent Quotes from www.kitco.com]

Posts Tagged ‘silver’

Great Panther Intersects Multiple Zones Of High Grade Silver-Gold In Step-Out Drilling At San Ignacio Property, Guanajuato

Great Panther continues to bring wonderful drilling results from its Guanajuato Project. The San Ignacio Property is located just 5 kilometres from the main Guanajuato Mine, this is a huge benefit and will prove to be so even more in the future when ore from this property can be processed at the main mine complex. We bought shares of Great Panther in September 2009 @ CA$0.72 using today’s closing of CA$2.47 this means a 243% gain!
Great Panther News Release:

GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is pleased to announce that the second section of diamond drill holes at the San Ignacio Mine Property, Guanajuato has intersected numerous zones of silver-gold mineralization, some of which appear to correlate well with the first two holes and others that appear to be new zones. Two holes, ESI10-03 and 04, were drilled easterly at angles of -40° and -60° from a drill setup approximately 45 metres north of holes ESI10-01 and 02 (see news releases dated October 28th & November 15th 2010).

Hole ESI10-03 intersected 15 silver-gold mineralized zones, including the Melladito zone, which returned 212g/t silver and 1.99g/t gold over 4.3 metres, the Nombre de Dios zone with 850g/t silver and 3.75g/t gold over 3.1 metres, and a footwall stockwork zone with 680g/t silver and 1.94g/t gold over 3.85 metres. The fourth hole, ESI10-04, was drilled under ESI10-03 and intersected five silver-gold mineralized zones, including the Melladito zone with 240g/t silver and 0.8g/t gold over 5.8 metres, the Nombre de Dios zone with 2,020g/t silver and 7.80g/t gold over 0.9 metres, and a footwall stockwork zone with 660g/t silver and 1.73g/t gold over 3.25 metres, including 0.80 metres assaying 2,380g/t silver and 6.57g/t gold.

Both ESI10-03 and 04 were longer holes, and as such drilled deeper and further east, than ESI10-01 and 02. New and more easterly footwall stockwork zones were intersected in ESI10-03 and 04, the interpretation of which is still tentative, but the Company is pleased that previously unknown silver-gold mineralized zones are being intersected as the drilling is extended eastward. Highlights of holes ESI10-03 and 04 are presented in the tables below, while a plan map showing the location of Great Panther’s San Ignacio drill-holes, and an interpretative cross section, are posted on the Company web-site under the Guanajuato Mine Complex section.

The deepest stockwork intersection in ESI10-04 (3.25 metres of 660g/t silver and 1.73g/t gold) is at a vertical depth below surface of approximately 420 metres. This may correlate with the zone of similar grades and width at the bottom of hole ESI10-03 (3.85 metres of 680g/t silver and 1.94g/t gold) and represents a significant vertical interval of high grade silver-gold mineralization, down to 1,980 metres above sea level (“masl”). Typically in the La Luz vein camp, the bottoms of the mineralized zones are at 2,100 — 2,150 masl. Interpretation of the various structures is ongoing and as down-dip infill drilling commences a better understanding will emerge.

In light of the success of the 2010 drilling at San Ignacio, Great Panther’s Board of Directors has approved a new 2011 budget of $2.8 million for the exploration and development of the San Ignacio property. As soon as the appropriate permits are in place, an expanded drilling program will commence. Potential sites to establish a portal for an underground ramp are also being evaluated. Due to the proximity of the San Ignacio Property to the Company’s main Guanajuato operation, any mineralization intersected in the course of underground exploration and development can be trucked to the plant for processing. In this way, cash flow provided by the additional tonnage can be used to offset the cost of the exploration and development program.

The San Ignacio Mine property covers approximately 4 kilometres of strike length on the La Luz vein system, which is parallel to, and 5 kilometres west of, the principal Veta Madre structure that hosts the main Guanajuato mines (see map on website at http://www.greatpanther.com/i/pdf/GTO-SanIgnacio-LocationMap.pdf). The La Luz district marks the site of the first discovery of silver in the area, in the year 1548, which led to the discovery of the Veta Madre silver-gold deposits in 1550. It comprises a swarm of generally north-northwest striking, vertical to west dipping quartz veins and breccias with associated low sulphidation silver-gold mineralization, along an approximate 8 kilometre long trend.

Highlights of Drill Hole ESI10-03:

SAN IGNACIO, ESI10-03, -40, N49E, 416.9m
ZONE From (m) To (m) Width (m) Au (g/t) Ag (g/t)
Melladito hanging wall 57.70 58.00 0.30 0.57 282
Melladito hanging wall 96.95 97.65 0.70 0.66 162
Melladito hanging wall 118.45 118.90 0.45 1.03 336
Melladito hanging wall 131.30 131.50 0.20 3.75 590
Melladito hanging wall 146.95 147.15 0.20 1.18 220
Melladito zone 148.30 149.90 1.60 1.03 33
149.90 151.35 1.45 1.83 128
151.35 152.60 1.25 3.39 539
composite 148.30 152.60 4.30 1.99 212
Intermediate 220.10 220.25 0.15 1.01 331
Intermediate 233.10 233.45 0.35 0.56 140
Intermediate 254.10 254.40 0.30 1.27 23
Nombre de Dios zone 268.45 269.35 0.90 3.77 823
269.35 270.60 1.25 4.76 1130
270.60 271.00 0.40 2.38 283
271.00 271.55 0.55 2.39 668
composite 268.45 271.55 3.10 3.75 850
Footwall vein 299.60 299.80 0.20 3.47 20
Footwall vein 306.45 306.85 0.40 3.20 251
Footwall vein 342.90 343.05 0.15 20.40 342
Footwall stockwork 412.35 413.45 1.10 0.99 357
413.45 414.60 1.15 1.74 216
414.60 415.40 0.80 1.42 341
415.40 416.20 0.80 4.04 2128
composite 412.35 416.20 3.85 1.94 680

Highlights of Drill Hole ESI10-04:

SAN IGNACIO, ESI10-04, -60, N55E, 570.0m
ZONE
From (m)
To (m)
Width (m)
Au (g/t)
Ag (g/t)
Melladito zone
218.10
219.00
0.90
0.53
303
219.00
220.75
1.75
0.2
76
220.75
221.90
1.15
0.61
77
221.90
223.10
1.20
1.81
345
223.10
223.90
0.80
1.21
606

composite

218.10
223.90
5.80
0.80
240
Melladito footwall
232.50
233.15
0.65
0.76
159
Nombre de Dios zone
399.00
399.90
0.90
7.8
2020
Footwall vein
474.10
474.40
0.30
4.67
2020
Footwall stockwork
484.35
485.70
1.35
0.18
178
485.70
486.80
1.10
0.1
1
486.80
487.60
0.80
6.57
2380

composite

484.35
487.60
3.25
1.73
660

Robert F. Brown, P. Eng. and Vice President of Exploration for the Company is the Qualified Person for the Guanajuato Mine, under the meaning of NI 43-101. A full QA/QC program is being followed including the regular insertion of splits, blanks, and standards into the core sampling sequence. Analysis of the drill core samples is being conducted at the Guanajuato Mine on-site laboratory, independently operated by SGS.

For further information, please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert A. Archer, President & CEO

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements may include but are not limited to the Company’s plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company’s operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2009 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Source: Company website

Minera Andes Announces Updated Preliminary Assessment For Its Los Azules Copper Deposit

Great news today from Minera Andes, the only big copper play in our portfolio. Shares are trading up 5% after the opening on Friday. The gold and silver that comes as a by-product in this project almost covers the mining costs. Essentially this means they are mining copper almost for free. With copper prices soaring the last weeks and strong fundamentals for copper the coming years, this project has become a real marvel. We boughs shares of Minera Andes in September 2009 @ CA$0.72 using today’s intra-day high of $CA2.92 this means a whopping 305,5% gain!

Minera Andes News Release

TORONTO, ONTARIO – December 16, 2010 – Minera Andes Inc. (TSX: MAI and US OTC: MNEAF) – is pleased to announce the results of an updated preliminary assessment (“PA”) on its 100% owned Los Azules Copper Project (the “Project”) located in the San Juan Province of western central Argentina. It is based on the updated resource estimate announced in June 2010 and higher base case metal price assumptions.

  • Using a Copper price of $3.00/ lb
  • Base case pre-tax Net Present Value (“NPV”) is $2.8 billion and the Internal Rate of Return (“IRR”) is 21.4%, at a discount rate of 8%
  • Life of mine Cash Operating Costs of $0.96/lb of copper net of gold and silver by-product credits.
  • Initial Capital $2.9 billion
  • Capital Payback in 3 years.
  • Mine life of 25 years.

Rob McEwen, Chairman and CEO of Minera Andes, said:

“We are advancing the engineering studies on Los Azules to systematically de-risk the project. The field season is just getting underway, and we are currently mobilizing the first two of five drill rigs to the project. In addition to continuing the infill and step out drilling, we will start to test some of the newly identified deeper geophysical targets this season.”

The Los Azules Copper Project is an advanced-stage porphyry copper exploration project located in the cordilleran region of San Juan Province, Argentina near the border with Chile. The deposit is a typical porphyry copper system in that the upper part of the system consists of a barren leached cap, which is underlain by a high-grade secondary enrichment blanket, and the primary mineralization below the secondary enrichment zone extends to at least 650 meters, which is the depth of the deepest holes drilled to date. The deposit is approximately one kilometer wide by four kilometers long, and it is open in several directions.

Highlights of the updated Preliminary Assessment are shown below. Details may be found in an updated technical report which will be posted on SEDAR following the issuance of this news release.

NPV ($3.00/lb Cu, 8% discount rate) $2,826 million
IRR 21.4%
Initial Capital Expenditure $2,851 million
LOM Average Operating Costs $7.82/t ore
LOM C-1 Cash Costs (net by-product credits) $0.96/lb Cu mined
Nominal Mill Capacity 100,000 tpd
Annual Throughput 36 million tonnes
Mine Life 25.4 years
Life-of-Mine Strip Ratio 1.37
LOM average annual copper-in-concentrate production 169,100 tonnes
First 5 Years average annual copper-in-concentrate production 226,500 tonnes

All monetary amounts are expressed in US dollars unless otherwise stated. The PA is preliminary in nature and includes the use of inferred resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Thus, there is no certainty that the results of the PA will be realized. Actual results may vary, perhaps materially. The level of accuracy for Preliminary Assessment estimates is approximately +/- 35%.

Compared to the previous Preliminary Assessment released in March 2009, the NPV discounted at 8% has increased from $496 million to $2.9 billion and the IRR has increased from 10.8% to 21.4%. In addition, the payback of pre-production capital has decreased from 6.4 years to 3.1 years from the start of production.

The main driver of the improved project economics is that the base case copper price has been increased from $1.90/pound to $3.00/pound. Specifically, the higher copper price added approximately $3.2 billion to the NPV, and the increased resources added approximately $2.1 billion.

The benefits of the higher copper price and increased resources were significantly offset by increases in the estimated operating costs ($695 million), capital costs ($100 million) and export retention taxes and royalties ($3.4 billion).

The updated Preliminary Assessment also incorporates updated property status and ownership information, revised locations for the project facilities, and an updated geological interpretation.

Project Economics

The Preliminary Assessment contains a cash flow valuation model based upon the geological and engineering work completed to date and technical and cost inputs developed by Samuel Engineering, Inc., Ausenco Vector and MTB Project Management Professionals, Inc. The base case was developed using long term forecast metal prices of $3.00/lb for copper, $980/oz for gold, and $15.60/oz for silver.

The following chart shows the sensitivity of the base case’s NPV and IRR to changes in the copper price: (8% real discount rate).

The following chart shows the sensitivity to metal prices, operating costs, and capital cost. The graph shows that the project NPV is much more sensitive to metal prices than to capital or operating costs.

About Minera Andes

Minera Andes is an exploration company exploring for gold, silver and copper in Argentina with three significant assets: A 49% interest in Minera Santa Cruz SA, owner of the San José Mine in close proximity to Andean Resources’ Cerro Negro project; 100% ownership of the Los Azules copper deposit with an inferred mineral resource of 10.3 billion pounds of copper and an indicated resource of 2.2 billion pounds of copper; and, 100% ownership of a portfolio of exploration properties bordering Andean’s Cerro Negro project in Santa Cruz Province. The Corporation had $10 million USD in cash as at September 30, 2010 with no bank debt. Rob McEwen, Chairman and CEO, owns 33% of the company.

This news release has been submitted by Jim Duff, Chief Operating Officer of the Corporation. For further information, please contact Jim Duff or visit our Website: www.minandes.com.

James K. Duff
Chief Operating Officer
99 George St. 3rd Floor
Toronto, Ontario, Canada, M5A 2N4
Toll-Free: 1-866-441-0690
Tel: 647-258-0395
Fax: 647-258-0408
E-mail: info@minandes.com

Scientific and Technical Information:

The information presented in this press release has been reviewed and approved by the Qualified Persons responsible for the Technical Report that presents the results of the Updated Preliminary Assessment. They are: Kathleen Altman, Ph.D., PE,, Robert Sim, P.Geo,. Bruce Davis, PhD, FAusIMM, Richard Jemielita, Ph.D., MIMMM, William Rose, PE, and Scott Elfen, PE. All are independent Qualified Persons as defined by National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101″). Robert Sim, Bruce Davis, and William Rose are responsible for the mineral resource estimate. Bruce Davis is responsible for the quality control for the assaying of the Los Azules drill core. All samples were collected in accordance with industry standards. Splits from the drill core samples were submitted to the ACME sample preparation laboratory in Mendoza, Argentina and then transferred to ACME’s laboratory in Santiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays. William Rose is responsible for developing the mine production schedule and participating in the resource estimate. Scott Elfen of Ausenco Vector is responsible for information about Environmental Liabilities, Environmental Permitting and for the Geotechnical designs used for the Study. Richard Jemielita is responsible for information about the Geological Setting, Deposit Types, Mineralization, Exploration, and Drilling. Kathleen Altman, Samuel Engineering, Inc., is the principal author of the Report with specific responsibility for Mineral Processing and Metallurgical Testing, the capital and operating cost estimates and the economic evaluation.

Mineral resources are generated using ordinary kriging with a nominal block size of 20x20x15m. Block grade estimates are derived from drill hole sample results and the interpretation of a geologic model which relates to the spatial distribution of copper, gold, silver and molybdenum in the deposit. There are a total of 114 drill holes in the Los Azules database with a cumulative length of 30,997 meters and a total of 15,260 samples analyzed for a suite of elements including total copper, gold, silver and molybdenum. A total of 58 of the drill holes have some portion of the sample intervals tested for sequential copper analysis. This information contributed to the development of the mineral zone domains. The portion of the new mineral resource that has been defined as “indicated” is based on a drilling configuration that exhibits the degree of continuity required for higher level mineral resources. Inferred mineral resources are limited to blocks within a maximum distance of 200 meters from a drill hole. As required by NI 43-101, the possible future economic viability of the mineral resource has been exhibited by restriction within a pit shell derived about the copper content in indicated and inferred class blocks at a copper price of $2.50/lb, total operating costs of $5.25/tonne and an average pit slope of 34 degrees. Mineral resources are presented at a cut-off grade of 0.35%Cu, which is the same base cut-off grade used in the 2008 mineral resource estimate. These are mineral resources, not mineral reserves.

For further information in respect of the Los Azules project please refer to the technical report entitled “Canadian National Instrument 43-101 Technical Report Updated Preliminary Assessment, Los Azules Project, San Juan Province, Argentina” dated December 1, 2010, the “Los Azules Report.” This report will be made available on SEDAR (www.sedar.com) concurrent with the filing of this news release. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the project as described in the Los Azules Report will be realized.

Cautionary Note to U.S. Investors:

All resource estimates reported by the Corporation were calculated in accordance with NI 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Caution Concerning Forward-Looking Statements:

This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, the Corporation’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results and management’s understanding of proposed legislative changes. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, risks related to litigation, property title, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks.

Readers should not place undue reliance on forward-looking statements or information. The Corporation undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See the Corporation’s annual information form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

Source: Company website

Great Panther Updates Mineral Resource/Reserve Estimates At The Guanajuato Mine

After the closing bell Wednesday Great Panther announced great news, again! We bought shares of Great Panther in September 2009 @ CA$0.84 using today’s close of CA$2.45 this means a 191.6% gain! Watch this stock on Thursday!

Great Panther News Release

GREAT PANTHER SILVER LIMITED (TSX: GPR) is pleased to report that Scott Wilson Roscoe Postle Associates (“Scott Wilson RPA”), of Vancouver, B.C., has completed a NI 43-101 compliant mineral resource/reserve estimate on the Cata Clavo, Los Pozos, and Santa Margarita zones at the Company’s wholly-owned Guanajuato Mine in Guanajuato, Mexico. The new Measured and Indicated mineral resource contains 5,450,000 ounces silver equivalent. Inferred mineral resources are estimated at 2,678,000 ounces silver equivalent (“Ag eq oz”). The Measured and Indicated mineral resources include 4,372,000 Ag eq oz categorized as Proven and Probable mineral reserves, using a cut-off grade of 185 g/t silver equivalent. This is the first time that NI 43-101 compliant reserves have been estimated for the Guanajuato Mine and is a positive step in confirming the long-term viability of this historic operation.

The new resource base represents a 53% increase over the previous resource estimate (for just the Cata Clavo; see news release June 30, 2009), even after deducting the production from that zone over the last year and a half. This demonstrates the Company’s ability to not only replace what is being mined, but to increase the resource base and extend the mine life with additional drilling. There were no compliant resources at Guanajuato when Great Panther purchased the property in 2005 and most of the more than 4,500,000 Ag eq oz that the Company has mined from Guanajuato since 2006 has come from non-compliant resources.

Mining of the three zones, Cata, Los Pozos, and Santa Margarita currently accounts for most of the Guanajuato metal production. Resource drilling is ongoing to delineate new resources and reserves on the upper and depth extensions of Los Pozos and the southeast strike extension of Santa Margarita but also includes Guanajuatito, Valenciana, San Telesforo, and the depth extensions of the Rayas Clavo, none of which are included in this resource estimation but which will be included in the 2011 update. In addition, drilling of the very promising San Ignacio project will continue through 2011 and will make a significant contribution to future resources for the Guanajuato Mine. As such, the resource base will continue to build at Guanajuato and it is the Company’s stated objective to delineate approximately 25-30 million Ag eq oz here by 2012.

For the year 2010, production from Guanajuato is estimated to be 1.02 million Ag oz and 6,720 Au oz (1.44 million Ag eq oz). The resource and reserve estimates, together with the significant potential of the ongoing drilling programs, positively support the achievement of the growth strategy objectives for Guanajuato.

Silver equivalent values were applied to computer generated block models in order to define the mineral resource. The mineral reserve cut-off value of 185g/t (6.0 oz/t) silver equivalent is the metal content contained in one tonne of ore for which the net revenue (net of smelter and refining costs) is equal to the average full operating costs to mine and process one tonne of ore. Scott Wilson RPA used medium term projected metal prices of US$17.67/oz Ag and US$1150/oz Au (relative price ratio of 65 gold to 1 silver), 2010 concentrate sales contract terms, and typical plant performance metal recoveries and concentrate grades to calculate the net value. Total operating costs at Guanajuato, including mining, milling, and general and administration costs, are currently US$85/tonne. Experience gained from mining the veins by the cut-and-fill mining method and the upward trend in metal prices, determined that the appropriate cut-off value for defining mineral resources at Guanajuato be set at 136g/t (4.3oz/t) silver equivalent. The use of a lower cut-off for resources reflects the less stringent guidelines for resources versus reserves.

Based upon these parameters, the Measured and Indicated mineral resource contains 5,450,000 Ag eq oz including 2,495,000 Ag eq oz in the Measured category and 2,956,000 Ag eq oz in the Indicated category. Inferred resources are estimated at 2,678,000 Ag eq oz. Of the Measured and Indicated mineral resource, 4,372,000 Ag eq oz is classified as Proven and Probable mineral reserve, using a cut-off of 185g/t silver equivalent. The Proven mineral reserve is estimated at 1,935,000 Ag eq oz, while the Probable mineral reserve is estimated at 2,438,000 Ag eq oz. Breakdowns for silver and gold can be found in the tables below.

The mineral resource estimate for Guanajuato was prepared using block models constrained by 3D wireframes of the principal mineralized zones. Separate block models, comprising arrays of 2.5 by 2.5 by 2.5 meter blocks, were constructed for each of the Cata, Los Pozos, and Santa Margarita zones. Grades for gold and silver were interpolated into the blocks using Inverse Distance Cubed (ID3) weighting. Block model graphics, maps, sections and previous news releases can be viewed on the Company’s website at www.greatpanther.com. The samples consisted of diamond drill and production chip samples. Scott Wilson RPA capped high gold and silver grades at a range of levels depending on the zone and the type of sample (drill hole or chip). The estimates were classified according to the CIM Definition Standards on Mineral Resources and Mineral Reserves, and as such, are consistent with the requirements of NI 43-101. The estimate was prepared using GEMS software (Gemcom), which is a commercially available package, commonly used in the industry.

The Cata Clavo is separated into four zones, namely, the Veta Madre, Alto 1, Alto 1a and Alto 2. The upper limit of the main Veta Madre zone is set at the floor of the 460 metre level as it has been extensively mined out above this level. Mining of the three higher grade Alto zones is underway using a modified mining plan. The mineralized zones used in the resource represent an approximate 100 metre vertical height and a strike length of approximately 150 metres. The Los Pozos zone is a downward tapering zone of 30-90 metres strike length and widths to 12 metres. The mineral resource estimate is from the 390 level up to the bottom of the 270 level sill pillar. The Santa Margarita is separated into four zones, namely the HW stockwork, Breccia, FW A, and FW B. The mineral resource estimate was calculated from below the floor of the 390 level to the 600 level along a strike length of more than 200 metres.

The Veta Madre (at Cata and Los Pozos areas) and the Cata Alto 1 zone are complex quartz dominated stockwork and breccia zones of pyrite and argentite mineralization with argillic and propylitic alteration in the footwall shale. Footwall to the Veta Madre is a barren silica breccia with large angular shale fragments. The Alto 1a, and Alto 2 zones are silica rich brecciated zones within a hanging-wall diorite dyke. The Santa Margarita zones in the Rayas area are silica rich brecciated hanging wall conglomerates, andesite and La Sirena quartz porphyry intrusive. All zones strike generally NW-SE and dip 45 degrees southwest.

Measured, Indicated and Inferred mineral resources in the three areas were estimated by Dave Rennie, P.Eng, a Principal Geologist for Scott Wilson RPA, and the Proven and Probable mineral reserves were estimated by R. Dennis Bergen, P. Eng, Associate Principal Mining Engineer for Scott Wilson RPA. Both are independent of Great Panther as per the criteria set out in NI43-101. The Mineral Reserves and Mineral Resources estimates are tabulated below:

October 31 2010 Proven Mineral Reserves
Tonnage AU AU AG AG AgEq
Zone Kt g/t oz g/t oz oz
Cata – Madre 44.0 1.28 1,800 344 486,000 603,000
Cata – Alto 1 30.5 2.21 2,170 296 290,000 431,000
Pozos 65.4 1.29 2,720 309 650,000 827,000
Santa Margarita BX 7.3 4.47 1,050 21 5,000 73,000
Total Proven 147.0 1.64 7,740 303 1,431,000 1,935,000
October 31 2010 Probable Mineral Reserves
Zone Tonnage AU AU AG AG AgEq
Kt g/t oz g/t oz oz
Cata – Madre 2.1 0.91 60 187 13,000 17,000
Cata – Alto 1 21.6 1.02 710 225 156,000 202,000
Cata – Alto 1a 21.6 2.49 1,730 605 420,000 533,000
Cata – Alto 2 12.3 2.33 920 721 285,000 345,000
Pozos 68.6 1.03 2,280 262 577,000 725,000
Santa Margarita BX 30.4 6.69 6,540 15 15,000 441,000
Santa Margarita FWSTK 16.6 4.80 2,560 19 10,000 177,000
Total Probable 173.2 2.66 14,790 265 1,475,000 2,438,000
Total Proven & Probable 320.2 2.19 22,530 282 2,906,000 4,372,000
October 31 2010 Proven & Probable Mineral Reserves
Zone Tonnage AU AU AG AG AgEq
Kt g/t oz g/t oz oz
Cata – Madre 46.1 1.25 1,860 337 499,000 620,000
Cata – Alto 1 52.1 1.72 2,880 266 446,000 633,000
Cata – Alto 1a 21.6 2.49 1,730 605 420,000 533,000
Cata – Alto 2 12.3 2.33 920 721 285,000 345,000
Pozos 134.0 1.16 5,000 285 1,227,000 1,552,000
Santa Margarita BX 37.7 6.26 7,590 17 20,000 514,000
Santa Margarita FWSTK 16.6 4.80 2,560 19 10,000 177,000
Total Proven & Probable 320.2 2.19 22,530 282 2,906,000 4,372,000

Notes

  1. CIM definitions were followed for Mineral Reserves.
  2. Mineral Reserves are estimated at a cut-off grade of 185 g/t AgEQ.
  3. Mineral Reserves are estimated using an average gold price of US$1150 per ounce and an average silver price of US$17.67 per ounce.
  4. The minimum mining width is 1.5 metres.
  5. Bulk density is 2.65 t/m3.
  6. Numbers may not add due to rounding.
Au g/t Ag g/t
Cata/Alto dilution 20% 0.30 80
Cata extraction 80%
Alto extraction 85%
Pozos dilution 15% 0.30 80
Pozos extraction 85%
Santa Margarita dilution 20% 1.00 10
Santa Margarita extraction 90%
October 31, 2010 Measured Mineral Resource
Zone Volume Density Tonnage Au Au Ag Ag Ag Eq
(K m3) (t/m3) (Kt) (g/t) (oz) (g/t) (oz) (oz)
Cata 34.7 2.65 91.9 1.71 5,050 338 999,000 1,330,000
Los Pozos 32.7 2.65 86.7 1.27 3,540 303 844,000 1,070,000
Santa Margarita 3.47 2.65 9.20 4.43 1,310 22.0 6,520 92,000
Total 70.8 2.65 188 1.64 9,910 306 1,850,000 2,495,000
October 31, 2010 Indicated Mineral Resource
Zone Volume Density Tonnage Au Au Ag Ag Ag Eq
(K m3) (t/m3) (Kt) (g/t) (oz) (g/t) (oz) (oz)
Cata 26.3 2.65 211 2.55 4,150 474 1,060,000 1,330,000
Los Pozos 34.7 2.65 91.8 0.98 2,900 252 743,000 932,000
Santa Margarita 18.8 2.65 49.8 6.42 10,300 18.9 30,300 701,000
Total 79.7 2.65 211 2.55 17,300 270 1,830,000 2,956,000
October 31, 2010 Measured and Indicated Mineral Resource
Zone Volume Density Tonnage Au Au Ag Ag Ag Eq
(K m3) (t/m3) (Kt) (g/t) (oz) (g/t) (oz) (oz)
Cata 60.9 2.65 161 1.77 9,210 397 2,060,000 2,660,000
Los Pozos 67.4 2.65 178 1.12 6,440 277 1,590,000 2,010,000
Santa Margarita 22.2 2.65 59.0 6.11 11,600 19.4 36,800 792,000
Total 150.5 2.65 399 2.12 27,200 287 3,680,000 5,450,000
October 31, 2010 Inferred Mineral Resource
Zone Volume Density Tonnage Au Au Ag Ag Ag Eq
(K m3) (t/m3) (Kt) (g/t) (oz) (g/t) (oz) (oz)
Cata
Los Pozos 2.53 2.65 6.70 0.53 113 149 32,200 40,000
Santa Margarita 77.6 2.65 206 4.52 29,900 105 694,000 2,640,000
Total 80.1 2.65 212 4.39 30,000 106 726,000 2,678,000

Both drill core and underground chip samples were assayed independently by SGS at the Company’s Guanajuato Mine site laboratory. Aspects relating to mining and metallurgy are overseen by Charles Brown, Chief Operating Officer for Great Panther and its Mexican subsidiary, Minera Mexicana El Rosario, S.A. de C.V. Robert F. Brown, P. Eng and Vice President of Exploration for the Company, is the Qualified Person for the Guanajuato Mine Project, under the meaning of NI43-101, and has reviewed these results. The Company’s QA/QC program includes the regular insertion of blanks, duplicates, and standards into the sample shipments.

Great Panther owns a 100% interest in the Guanajuato Mine Complex. Historically, the Guanajuato Mine was one of the largest silver producers in Mexico and encompasses the core of the Guanajuato District, which has produced 1.2 billion ounces of silver and 4.5 million ounces gold.

For further information please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert A. Archer, President & CEO

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements may include but are not limited to the Company’s plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company’s operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2009 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Stock Pick: Excellon Resources Inc. (TSX EXN) Mexico’s Highest Grade Silver Producer

After weeks of examining about 50 mining companies, today we bought shares of Excellon Resources @ CA$0.99 We have made a second stock pick as well, but our buy order today was to low. We will try to buy shares again on Thursday. When we manage to do so, we will announce our second pick! The text below is from the Excellon website.

Excellon is a mineral resource company operating in Durango and Zacatecas States, Mexico, is committed to building value through production, expansion and discovery. The Company is producing silver, lead and zinc from high-grade manto deposits on its Platosa Property, strategically located in the middle of the Mexican silver belt. In fiscal 2010, Excellon’s focus remains on increasing its Mineral Resources at Platosa through an aggressive exploration program, and working towards expanding its operating capacity to maximize the value of the Miguel Auza mill acquired in 2009. The Platosa Property, not fully explored, has several geological indicators of a large carbonate replacement deposit (CRD) mineralized system, the tracking of which Excellon believes will lead to the discovery of a world class deposit. At Miguel Auza, located in the northern portion of the Zacatecas-Fresnillo silver belt, an initial exploration program to evaluate the potential of this largely underexplored property, the site of considerable historic and recent production from epithermal precious and base metal veins was completed in September 2010.

Click here to download the investor presentation of December 1 from the company website.

First Majestic to List on the New York Stock Exchange

Today First Majestic has announced it will get a listing on the NYSE. The company will reach new investors and benefit from a deeper liquidity. We bought shares of First Majestic in September 2009 @ CA$2.66 using yesterday’s close of CA$13.43 this means a 404,8% gain.

First Majestic News Release:

First Majestic Silver Corp. (TSX:FR) (NYSE:AG) (the “Company” or “First Majestic”) is pleased to announce that its common shares have been authorized for listing on the New York Stock Exchange (“NYSE”). The Company expects the shares to begin trading on the NYSE on December 15, 2010 under the trading symbol “AG”. The Company will retain its primary listing on the Toronto Stock Exchange under the trading symbol “FR”.

“We’re pleased to welcome First Majestic Silver Corp, a leading Canadian miner, to the NYSE,” said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution, NYSE Euronext. “First Majestic is a welcome extension to our fast-growing roster of Canadian mining companies. The Company and its shareholders will benefit from the deep liquidity and global visibility offered to Canadian companies cross-listed on the NYSE.”

“First Majestic’s increased exposure from this upcoming NYSE listing is a result of management’s continued focus to bring additional value to our broadening shareholder base,” said Keith Neumeyer, President and CEO of the Company. “We look forward to introducing First Majestic to a wider audience of investors as our profile is expanded internationally.”

First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through the development of its existing assets and the pursuit through acquisition of additional assets that contribute to achieving its corporate growth objectives.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

“signed”

Keith Neumeyer,
President & CEO

This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Silver Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Source: Company website

Avino Announces $5.1 Million Financing

Last friday Avino announced a private placement for $5.1 million financing. The net proceeds of this offering will be used to advance the company’s San Gonzalo silver, gold, lead and zinc project at Durango, Mexico and general working capital requirements. Today the stock surged 10% to a new 52-week high of $2.40 We bought shares Avino in July 2009 @ $0.63 using today’s intra-day high this means a 280,9% gain. We think this company still has a very bright future. We did sell some shares however, just as we have done with all shares exceeding 250% gains these weeks. The correction last week did not come though like we expected and gold and silver prices seem to stabilize a bit. This trend is likely to continue the coming weeks, for gold this means the $1378-$1425 range and for silver $27.50-$30.50 We expect the next big surge in commodities in the beginning of 2011. The surge still might come sooner if global circumstances give reason for it (Euro crisis, Korean situation). We will announce new stock picks within a month!

Avino News Release:

Avino Silver and Gold Mines Ltd. (the “Company”) is pleased to announce that it has arranged a private placement of up to 2,700,000 units at a price of $1.90 per unit, each unit consisting of one common share and one non-transferrable share purchase warrant. Each warrant will entitle the investor to purchase one additional common share with a term of three years at an exercise price of $2.50. Sprott Asset Management LP on behalf of certain funds and managed accounts has agreed to participate in this private placement. In addition, units will be sold by the Company to investors introduced by Sprott Private Wealth LP (“SPW”). A cash commission of 5% of the gross proceeds from units sold to such investors and 5% compensation warrants are payable to SPW.

The net proceeds of this Offering will be used to advance the Company’s San Gonzalo silver, gold, lead and zinc project at Durango, Mexico and general working capital requirements.

The financing is Subject to approval of The TSX Venture Exchange and all regulatory authorities. The securities issued by the Company in connection with this financing are subject to a 4-month “hold period” as prescribed by the TSX Venture Exchange.

Founded in 1968, Avino has established a long record of mining and exploration in Mexico. The Company’s focus is to bring the property to production. Avino remains well funded.

ON BEHALF OF THE BOARD

“David Wolfin”
______________________________
David Wolfin
President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Source: Company website

Seabridge Gold Drilling Expands Iron Cap: Resource Estimate Expected Shortly. Results Suggest Potential to Discover Higher Grade Deposit at Depth.

Today Seabridge Gold announced that a new resource estimate is expected shortly. The data of all 46 drilling holes will now be provided to Resource Modeling Inc., an independent consulting firm, and the first NI-43-101 compliant resource estimate for Iron Cap is expected in January 2011. We bought Seabridge Gold in June of this year @ $28.36 Today the stock closed @ $27.79 this means a 2% loss.  We think the coming estimate will finally give the share price the firm push forward we have been waiting for.  For the time being we keep our targeted price at $75

Seabridge News Release:

Toronto, Canada – Results from the final 33 core holes drilled by Seabridge this year at Iron Cap have confirmed (i) consistent gold, copper and silver mineralization which is likely to generate an increase in resources and reserves at KSM; (ii) an expanded size of the deposit; (iii) higher average metal values than KSM’s current reserves which have the potential to enhance project economics; and (iv) a highly prospective new exploration target which could have dynamic implications for KSM.  For assay results and hole descriptions see www.seabridgegold.net/NDec9-10-table.pdf and for a drill hole location map see www.seabridgegold.net/NDec9-10-maps.pdf.

A total of 46 core holes have now been drilled at Iron Cap. Every hole has intersected ore grade mineralization over significant widths. The drill data will now be provided to Resource Modeling Inc., an independent consulting firm, and the first NI-43-101 compliant resource estimate for Iron Cap is expected in January 2011. The drill hole spacing in the heart of the Iron Cap deposit should be sufficient to allow a significant portion of this resource to be classified as measured and indicated which could enable it to qualify as reserves in the updated Preliminary Feasibility Study (“PFS”) scheduled for April 2011.

In the Seabridge news release dated July 26, 2010, the size of the Iron Cap deposit was estimated to be at least 900 meters in strike length, 400 meters wide and up to 350 meters thick. The results from the last 33 holes now confirm a deposit which has a strike length of at least 1,300 meters, a width of at least 600 meters and an average thickness of 350 meters. In addition to the down dip potential, Iron Cap remains open on strike to the northeast and southwest.

Analysis of drill data indicates that the Iron Cap resource is likely to have a higher metal value than the average KSM grade. For example, Hole 40, which is mineralized from top to bottom, contains a 128.5 meter interval grading 1.04 grams per tonne gold and 0.37% copper. What is most encouraging is that Iron Cap’s higher grade copper zones could be blended with ore from the Mitchell zone to maintain the targeted 0.20% average copper grade to the mill. This average head grade is important because it generates a higher grade concentrate without sacrificing recoveries, which in turn commands better smelter returns and reduces shipping costs. The current mine plan calls for the early development of the more distant Kerr and Sulphurets zones to maintain copper head grades to the mill. Sequencing Iron Cap before Kerr and Sulphurets could have multiple potential benefits including lower operating and capital costs, deferring significant expenditures and extending mine life.

The Iron Cap deposit is a separate but related mineral system within the KSM district. It is structurally above the Mitchell deposit in the panel of rocks between the Mitchell and Sulphurets thrust faults. Iron Cap differs from the Mitchell deposit in that several intrusions make up the host rock. This higher temperature environment and its associated potassic alteration have resulted in the higher metal value at Iron Cap. There is the potential for an undiscovered, deeper core zone characterized by potassium feldspar, magnetite and bornite which could be expected to contain significantly higher metal values than the shallower levels tested so far at Iron Cap. This year’s drill results suggest that this potential core zone may exist below the current limits of the Iron Cap deposit. Seabridge intends to pursue this target in next year’s program.

Exploration activities at KSM are being conducted by Seabridge personnel under the supervision of William E. Threlkeld, Senior Vice President of Seabridge and a Qualified Person as defined by National Instrument 43-101. An ongoing and rigorous quality control/quality assurance protocol is being employed during the 2010 program including blank and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at Eco Tech Laboratory Ltd., Kamloops, B.C., using fire assay atomic adsorption methods for gold and total digestion ICP methods for other elements.

Seabridge holds a 100% interest in several North American gold resource projects. The Company’s principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a breakdown of Seabridge’s mineral resources by project and resource category please visit the Company’s website at http://www.seabridgegold.net/resources.php.

All reserve and resource estimates reported by the Corporation were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

This document contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward-looking statements” are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of mineral reserves and mineral resources; (ii) any potential for the increase of mineral reserves and mineral resources, whether in existing zones or new zones; (iii) the amount of future production; (iv) further optimization of the PFS including metallurgical performance; (v) completion of and submission of the Environmental Assessment Application; and (vi) potential for engineering improvements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “envisages”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

All forward-looking statements are based on Seabridge’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them. These assumptions include: (i) the presence of and continuity of metals at the Project at modeled grades; (ii) the capacities of various machinery and equipment; (iii) the availability of personnel, machinery and equipment at estimated prices; (iv) exchange rates; (v) metals sales prices; (vi) appropriate discount rates; (vii) tax rates and royalty rates applicable to the proposed mining operation; (viii) financing structure and costs; (ix) anticipated mining losses and dilution; (x) metallurgical performance; (xi) reasonable contingency requirements; (xii) success in realizing further optimizations and potential in exploration programs and proposed operations; (xiii) receipt of regulatory approvals on acceptable terms, including the necessary right of way for the proposed tunnels; and (xiv) the negotiation of satisfactory terms with impacted First Nations groups. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward looking statements, such as statements of net present value and internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost information is also prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, but specifically include, without limitation: risks relating to variations in the mineral content within the material identified as mineral reserves or mineral resources from that predicted; variations in rates of recovery and extraction; developments in world metals markets; risks relating to fluctuations in the Canadian dollar relative to the US dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary work force; increases in financing costs or adverse changes to the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical or other factors; changes in project parameters as plans continue to be refined; risks relating to receipt of regulatory approvals or settlement of an agreement with impacted First Nations groups; the effects of competition in the markets in which Seabridge operates; operational and infrastructure risks and the additional risks described in Seabridge’s Annual Information Form filed with SEDAR in Canada (available at www.sedar.com for the year ended December 31, 2009 and in the Corporation’s Annual Report Form 40-F filed with the U.S. Securities and Exchange Commission on EDGAR (available at www.sec.gov/edgar.shtml info@seabridgegold.net

When relying on our forward-looking statements to make decisions with respect to Seabridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Seabridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Seabridge or on our behalf, except as required by law.


ON BEHALF OF THE BOARD

“Rudi Fronk”
President & C.E.O.


For further information please contact:
Rudi P. Fronk, President and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.net

Source: Company website

First Majestic: La Parrilla Expansion to 1,600 tonnes!

First Majestic achieved significant production ramp up throughout 2010 at their La Encantada project after a successful expansion. Today the company announced a similar upgrade for their La Parrilla project. The budget for this operation is US$27.3 million.  All the required capital will be funded internally by cash flows. Completion will be in phases starting with the land clearing and preparation (already started, December 1) and finishing with the expansion of the cyanidation circuit early in the first quarter of 2012.

This day was a beautiful day for silver, the highest price since 1980 was reached and finally breaking through the $30.00 mark. First Majestic gained 6.68% just today. We bought First Majestic in September 2009 @ CAD$2.66 it closed @ CAD$13.58 today, that means a whopping 410% gain!  We sold 35% of our shares in First Majestic today to take profit. We will use the capital in the next big correction. We are following many interesting companies at the moment and are almost ready to announce a new stock pick! We will take this “additional time” at all-time highs to continue to read year reports, news releases, websites, geological reports and make sure to pick the next First Majestic when the in inevitable correction comes. We will probably wait till gold goes back to about $1385 again, for silver a pull-back to $29 might be a interesting moment to step in.

Do you want to be the first one to know our new choice? Sign up for our 100% totally free newsletter!

First Majestic News Release:

First Majestic Silver Corp. is pleased to announce the expansion of its 100% owned La Parrilla Silver Mine, located in Durango, Mexico has commenced. The extremely successful completion of the expansion of the Company’s La Encantada Silver Mine has allowed management to focus its efforts on the Company’s next major expansion project with ground breaking that started on December 1st, 2010.

During the past three years the La Parrilla mine has undergone extensive development to prepare the mine for higher production levels. During the past six months this expansion plan has been assessed and defined to optimize the La Parrilla operation into the future. Once this construction project is completed, the La Parrilla mine will be operating at twice current levels. This expansion will result in the mill capacity reaching 1,600 tpd from the current 850 tpd and will effectively double the current output of the La Parrilla operation from approximately 1.5 million ounces to 3.0 million ounces of silver equivalent annually.

The following activities have been achieved to date:

  • Engineering and design work has been completed for the expansion of the processing plant including a new and larger crushing area, the addition of a third ball mill and the increase of capacity of both the flotation and cyanidation circuits. Each circuit’s capacity is currently 425 tpd and once the expansion is completed, each circuit will continue to run in parallel but at the higher rate of 800 tpd for a total capacity of 1,600 tpd.
  • Engineering plans for the Rosarios/La Rosa, San Marcos, Quebradillas and Vacas mines have been defined and scheduled, including the planning of development and preparation of required production areas, planning and scheduling the construction of a new production shaft for the Rosarios mine, and all other required mine infrastructure to achieve the expanded production levels.
  • All final documentation required for the Environmental Impact Statement and the ‘Change of use of Land’ have been submitted to the SEMARNAT (the government environmental authorities) office in Durango, with final approvals expected prior to year end.

Timelines for the Construction Project:

  • Land clearing and preparation activities commenced on December 1st, 2010
  • Construction of the new crushing area will begin in January 2011. A new third ball mill has already been purchased and is on site and is expected to be ready for installation by June 2011.
  • The expansion of the flotation circuit is planned for completion by the end of July 2011. This new circuit will produce both a lead and zinc concentrate. A full year of production at 800 tpd is expected to produce 5,673,096 pounds of lead and 5,236,704 pounds of zinc. In flotation, the silver will report to the lead concentrate which is expected to contain 1,429,991 ounces of silver annually.
  • The expansion of the cyanidation circuit will follow in the second half of 2011 with the replacement and expansion of eight leach tanks and the construction of four additional leach tanks. Several new technologies will also be utilized; similar to those adopted in the Company’s recently completed La Encantada operation. These items will include; new clarification filters, new induction furnaces and new filter presses for the tailings in order to recover and re-use solution and to save on water consumption. In addition, the plan includes new systems for automation of feeding processes for chemicals and reagents.
  • Inauguration of this newly expanded cyanidation circuit is expected to take place early in the first quarter of 2012. Once completed, this larger 800 tpd cyanidation circuit will produce an additional 899,792 ounces of silver in the form of silver Doré bars annually.

The total capital budget for this expansion is US$27.3 million, consisting of: US$17.7 million for plant equipment and construction costs; US$2.6 million for additions to the underground fleet; US$3.8 million for underground mine development and US$3.2 million for infrastructure including a new power line and substation. All required capital for this expansion project will be funded internally from cash flows.

The internal rate of return (IRR) on this investment is expected to be 126% considering a price of silver of US$20.00 per ounce and lead and zinc prices of US$1.00 per pound.

Once in full operation at the newly expanded rate of 1,600 tpd, the La Parrilla Silver Mine will produce 3.0 million silver equivalent ounces annually consisting of 2.3 million ounces silver and 0.7 million ounces of silver equivalents in the form of lead and zinc. The expected Total Cash Costs are anticipated to be US$5.50 per ounce of silver.

First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through the development of its existing assets and the pursuit through acquisition of additional assets that contribute to achieving its corporate growth objectives.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

“Signed”

Keith Neumeyer, President & CEO

This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Silver Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Source: Company website

Highly Speculative Buy: Copper Creek Gold Corp. CPV – Latest Drill Results!

Today we did our most speculative buy ever: Copper Creek Gold. (TSXV:CPV) we bought at CAD$ 0,075 investing just a very minor part of our capital, since this buy is very, very speculative. This company has used very modern methods in finding their targets. Electro-magnetic (EM) data was used to determine where to drill, the results from the last two drill holes look very promising. We expect that a new drill program will be scheduled for next year. The company claims are very close to the famous Eskay Creek Mine.

Yesterday this new addition to our portfolio announced the results of the last two drill holes of their Bonsai Project.  Although precious metal grades discovered to date have been disappointing, the Company remains optimistic. Broad areas of disseminated sulphide mineralization have been noted in all 11 holes drilled to date. This mineralisation can at times be observed over hundreds of meters in drill core. The sulphide mineralisation intersected to date can be directly correlated to the IP charge-ability anomalies that were targeted by this seasons drilling. This large zone of sulphide mineralisation can now be traced for 800m in length, and up to 300m in depth.

Copper Creek Gold Copr. News Release:

VANCOUVER, BRITISH COLUMBIA – November 22, 2010 – Copper Creek Gold Corp. (TSX VENTURE: CPV) reports it has received assay results for the remaining four drill holes, BZ10-008 thru BZ10-011 from the Bonsai property located in the Eskay area of British Columbia.
During the summer exploration season, the Company drilled 3,460.86 metres of NQ2 diameter diamond drill core in 11 drill holes on its Bonsai property, 6km southwest of Barrick Gold Corp.’s past producing Eskay Creek mine. Results from holes BZ10-001 thru BZ10-007 have been previously released. Results from the remaining drill holes BZ10-008 thru BZ10-011 are found as this link . Anomalous silver mineralisation was intersected within 3 of the 4 drill holes reported.

Although precious metal grades discovered to date have been disappointing, the Company remains optimistic. Broad areas of disseminated sulphide mineralization have been noted in all 11 holes drilled to date. This mineralisation can
at times be observed over hundreds of meters in drill core. The sulphide mineralisation intersected to date can be directly correlated to the IP charge-ability anomalies that were targeted by this seasons drilling. This large zone of sulphide mineralisation can now be traced for 800m in length, and up to 300m in depth.
The Company will be consulting with its advisors over the winter season to develop a plan to further explore this large, intriguing zone of mineralisation, as well as to extend exploration to other prospective areas on the Bonsai property.
The Company also hopes to soon be in a position to update shareholders with regards to upcoming exploration plans on its Santa Lucia gold project in Sonora, Mexico.
Kristian Whitehead, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration program on behalf of the Company. All samples are being assayed by ALS Minerals of North Vancouver, BC. and undergoing a QAQC program which includes standards, blanks, field duplicates and preparation duplicates.
About Copper Creek Gold:
Copper Creek Gold Corp. is a Canadian based mineral exploration company actively exploring in Northern British Columbia and Mexico. The Company holds two exploration projects, the Bonsai Property located in the Eskay Creek region of Northwest British Columbia, Canada, and the Santa Lucia Gold Property located at Sonora, Mexico. The Company may earn up to a 70% interest in the Bonsai property from Teuton Resources Corp. and a 60% interest in the Santa Lucia property from Kootenay Gold Inc. subject to approval by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
James Anderson, President
FOR FURTHER INFORMATION CONTACT
James Anderson, President
Tel. 604-662-3004, ext. 105
Cell: 778-989-5346
james777anderson@gmail.com
Bing Jung, CEO
Tel. 604-662-3004, ext. 101
www.coppercreekgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of Copper Creek are forward looking-statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Copper Creek’s plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks inherent in the oil and gas and mineral exploration industries and from the time to time in the filings made by Copper Creek. Copper Creek makes all reasonable efforts to update its corporate material, documentation and forward-looking information on a timely basis.

Source: Company website

Great Panther Appoints New Mine Manager At Guanajuato Mine

Great Panther has been in our portfolio since September 2009. We bought at CAD$0,84 yesterday GPR closed at CAD$2,00 this means a 138% gain.

News Release:

GREAT PANTHER SILVER LIMITED (TSX: GPR; the “Company”) is pleased to announce the appointment of Mr. Andrew Sharp as the new General Manager of the Company’s wholly-owned Guanajuato Mine in Central Mexico. Mr. Sharp has a Bachelor of Engineering degree from the Western Australian School of Mines and more than 23 years experience in the mining industry.

In his most recent position, he was Manager of Technical Services for Projects with Platapanamericana, S.A. de C.V., the Mexican subsidiary of Pan American Silver, where he was responsible for the management of the La Preciosa Ag-Au deposit in Durango. Throughout his five-year tenure with Pan American, Andrew also played a major role in the development of the Alamo Dorado Mine in Mexico as well as significant start-up roles in the Manantial Espejo Mine in Argentina and San Vicente Mine in Bolivia.

Prior to joining Pan American, Andrew worked in New Guinea, Ghana, Malaysia and Australia at well-known mines such as Ok Tedi, Boddington and Telfer. He has extensive experience in almost all aspects of mining, including planning, reserve estimation, feasibility studies and project/mine management, particularly in vein-type underground precious metal deposits. He was instrumental in the mine life extension of the Ok Tedi Mine and was an important part of the expansion of the La Colorada Mine. He has also managed the building of a narrow vein mine from the early stages of development through to production.

“We are extremely pleased to welcome Andrew to the Great Panther team”, stated Robert Archer, Great Panther’s President & CEO. “His broad and relevant experience in vein-hosted silver deposits and track record in improving production and site efficiencies while increasing mine life comes at an important time as the Company is completing the first year of its three-year growth strategy. With Andrew’s leadership, we are confident that we will achieve our goals of substantially increasing the production and mine life at Guanajuato. His mine-building experience will be particularly relevant in the development of Great Panther’s new discovery at the San Ignacio Property, on the outskirts of Guanajuato.”

The Guanajuato Mine is one of the most prolific and historic mines in Mexico with past production of more than one billion ounces of silver since the year 1600. It is Great Panther’s flagship operation and produced 1,019,751 ounces of silver and 6,748 ounces of gold (1,541,220 silver equivalent ounces) in 2009. The Company plans to announce an updated independent reserve/resource estimate for the Guanajuato Mine within the next few weeks and is in the process of increasing production at Guanajuato to an annual rate of approximately 2,700,000 silver equivalent ounces by 2012. Including the Topia Mine, for which an updated independent reserve/resource estimate is also imminent, Great Panther plans to produce 3,800,000 silver equivalent ounces by 2012.

The Company also announces that it has granted a total of 415,000 stock options to employees and a consultant, under its stock option plan. The options are exercisable at a price of $1.90 and expire five years from the date of grant.

For further information, please visit the Company’s website at www.greatpanther.com, contact B&D Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

“Robert A. Archer”

Robert A. Archer, President & CEO

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements may include but are not limited to the Company’s plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company’s operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2009 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Source: Company website