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Positive Exploration Drilling Results Continue at Brigus Gold’s Black Fox Complex

Recently we bought shares of Brigus Gold (BRD) @ CA$1.88 today the stock closed @ CA$1.83 We think the stock has the potential of doubling its value within a year and we will continue to watch this company closely.

Brigus Gold News Release:

Halifax, Nova Scotia; January 12, 2011 – Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) has received all assay results from 14 drill holes and partial assay results from an additional three drill holes as part of an  ongoing exploration program at the Company’s 100% owned Black Fox Complex located in the Timmins Mining District, Ontario. The current exploration program is designed to expand the Black Fox Complex gold resource by systematically drilling mineralized structures.

Highlights from recent assay results include (all uncut, average gold grades with estimated true widths, unless otherwise noted):

Contact Zone

  • GF10-106:
    • 8.40 grams of gold per tonne (“gpt”) over 3.99 metres (“m”), and
    • 3.08 gpt over 4.23 m

  • GF10-114:
    • 12.10 gpt over 12.27 m
      • including 168.65 gpt over 0.81m
  • GF10-125:
    • 3.26 gpt over 15.21 m
      • including 5.28 gpt over 3.03 m
      • including 7.19 gpt over 3.75 m

New Discovery – Grey Fox South

  • GF10-115:
    • 10.65 gpt over a core length of 6.0 m
      • including 23.32 gpt over a core length of 1.0 m
      • including 16.12 gpt over a core length of 1.0 m
      • including 18.84 gpt over a core length of 1.0 m

The exploration program is following up on historical data and drill results while also testing new targets within the Black Fox Complex.  Three drill rigs are testing high potential gold targets at the Black Fox Complex  including: the Contact Zone, the Historic Gibson Deposit, the Gibson Shear, the School House Zone, the Hislop North Zone and the new Grey Fox South target recently identified from the positive results from drill  hole GF10-115. All targets are located within four kilometres (“km”) of the Company’s operating Black Fox Mine, providing the opportunity for Black Fox resource additions and rapid advancement.  In addition,  during the first quarter of 2011, Brigus will commence drilling on the Black Fox Mill property, host to the past producing Stock gold mine, located 31 km west of the Black Fox Mine.

Howard Bird, P. Geo., Vice President of Exploration for Brigus, said, “The Black Fox Complex drill program continues to confirm continuity of gold mineralization from multiple drill holes within the Contact Zone.  The discovery of high grade gold mineralization in the new Grey Fox South target, from hole GF10-115 which returned 10.65 gpt over a core length of 6.0 metres, is very encouraging and will be followed up with additional drilling.”

Contact Zone

The Contact Zone consists of a steeply dipping mineralized fault contact between the north-south trending metasediments and mafic volcanic rocks, and two other parallel mineralized zones.  The Contact Zone extends for at least 1,200 m and is open along strike and at depth.  The general dip of the feature is 78 degrees to the east with horizontal widths varying from 3.5 m to 35 m.

GF10-106displayed some visible gold and intersected 8.40 gpt gold over a true width of 3.99 m at 160 vertical m from surface and 3.08 gpt of gold over a true width of 4.23 m at 240 vertical m from surface.  The results from GF10-106 have expanded the gold mineralization from the assay results of GF09-45, drilled in 2009 on the same vertical section, which returned 6.07 gpt gold over a true width of 2.95m at approximately 130 vertical m from surface.

GF10-114intersected 12.10 gpt gold over a true width of 12.27 m, including 168.65 gpt gold over a true width of 0.81 m with visible gold in the sample.  The positive gold intersection is significant as it is located approximately 200 m along strike to the south from the main Contact Zone area. There are 27 assay samples pending from GF10-114.

Hole GF10-125 displayed some visible gold and intercepted 3.26 gpt gold over a true width of 15.21 m beginning at 85 vertical m from surface, including 5.28 gpt gold over a true width of 3.03 m, and 7.19 gpt gold over a true width of 3.75 m.   There are still 147 sample assays pending from GF10-125.  Hole GF10-103, drilled on vertical section with GF10-125, intersected 3.03 gpt gold over a true width of 2.83 m at 105 vertical m from surface, and 3.20 gpt gold over a true width of 2.37 m at 225 vertical m from surface.

Assay results over 2.0 gpt gold are listed in a table in Appendix 1 of this news release posted on the Company’s website at www.brigusgold.com.  An additional six drill holes have been completed on the Contact Zone and assays are pending.

Exploration Outlook

Commenting on the exploration potential at the Black Fox Complex, Mr. Bird said, “Over the next two years, our exploration team will focus on adding significant ounces to the gold mineral resources at the Black Fox Complex.  In addition to surface drilling, we also plan to target resource additions from underground drill stations at the Black Fox Mine.  Underground drilling will initially target gold mineralization to the southeast of the last underground drill station to follow up on positive results from previous drilling in 2004 and 2005 where three drill holes returned true width gold intersections of 31.16 gpt over 6.25 m, 7.48 gpt over 3.49 m and 12.65 gpt over 3.07 m.”

Surface drilling was conducted by Norex Drilling and was supervised by the Black Fox exploration staff.  All 2010 sample analyses reported herein were performed by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America using standard fire assay procedures. Intercepts cited do not necessarily represent true widths, unless otherwise noted. Brigus Gold’s quality control checks include insertion of blanks and standards to ensure laboratory accuracy.

Senior Exploration Project Manager John A. Dixon, P. Geo., reviewed the technical exploration information in this release as the Qualified Person for the Company.
About Brigus Gold

Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions.  The company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada.  The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada.  Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold holds a 100 percent interest in the Ixhuatan Project located in the state of Chiapas, and a 3% Net Smelter Royalty in the Huizopa exploration project located in the State of Chihuahua.  In the Dominican Republic, Brigus has a joint venture covering three mineral exploration projects.

Contact Information:

Wendy Yang, Vice President of Investor Relations

Phone: 303-524-3203

E-mail: ir@brigusgold.com

Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources

This news release uses the term mineral “resources”.  The Company advises U.S. investors that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 and are generally not permitted to be used in reports and registration statements filed with the SEC.  The SEC generally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended.  All statements regarding the Company’s ability to successfully expand the Black Fox Complex gold resource, add to Black Fox resources, advance new discoveries,  and continue to obtain positive down dip continuity of significant gold mineralization are forward-looking statements and estimates 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 these forward-looking statements include environmental risks and other factors disclosed under the heading “Risk Factors” in Brigus Gold’s and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus Gold’s documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission and other regulatory authorities.  All forward-looking statements included in this news release are based on information available to the Company on the date hereof.  The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Source: Company website

Press Release: Seabridge Gold To Sell Residual Noche Buena Project Interest For US$ 10.2 Million

Toronto, Canada… Seabridge Gold announced today that it has agreed to sell its remaining interest in the Noche Buena project to Minera Penmont, S. de R.L. de C.V. (“Penmont”) for US$10.12 million in cash. Closing is expected within the next 30 days. Penmont is a joint venture between Fresnillo plc. and Newmont USA Limited, a wholly owned subsidiary of Newmont Mining Corporation.

As background, in late 2008 Seabridge sold its 100% working interest in the Noche Buena project to Penmont for US$25 million in cash and a commitment by Penmont to pay Seabridge a further US$5 million upon commencement of commercial production from Noche Buena and a 1.5% net smelter royalty payable on all production from Noche Buena sold for US$800 per ounce of gold or greater. On closing of this transaction, Seabridge will no longer have any interests in the Noche Buena project.

Seabridge President and CEO Rudi Fronk said: “The cash proceeds will be used to continue advancing our core projects, KSM and Courageous Lake, towards feasibility. One of the elements of our strategy is to fund our core projects through the sale of non-core assets such as Noche Buena in order to minimize common share dilution. We hope to make further asset sales over the next several months. Our aim is to increase our proven and probable gold reserves, which now stand at 30.2 million ounces, while maintaining a low number of outstanding shares, which now totals 42.3 million fully-diluted,” he said.

Seabridge holds a 100% interest in several North American gold 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. KSM is one of the world’s largest undeveloped gold/copper projects. Proven and probable reserves for the KSM project (see news release dated March 31, 2010 for details) using a gold price of US$850 per ounce, a copper price of US$2.25 per pound are as follows:

KSM Probably & Probable Reserves

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.

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.
Source: Company website

First Majestic Press Release – New Record for Silver Production; Produces 1,538,798 oz Silver in last quarter

First Majestic Silver Corp. (“First Majestic” or the “Company”) is pleased to announce that production in the second quarter ending June 30, 2010 increased to a new company record of 1,651,411 equivalent ounces of silver representing a 2% increase over the previous quarter and a 72% increase over the second quarter of 2009.

The total equivalent silver production for the quarter consisted of 1,538,798 ounces of silver, representing a 9% increase from the previous quarter, 1,494,532 pounds of lead representing a 41% decrease from the previous quarter, and 541 ounces of gold representing a decrease of 37% compared to the previous quarter. Total silver production from operations have increased by 86% when compared with the second quarter of 2009.

The total ore processed during the quarter at the Company’s three operating silver mines, the La Encantada Silver Mine, the La Parrilla Silver Mine and the San Martin Silver Mine, amounted to a new record 404,349 tonnes milled in the quarter representing a 20% increase over the previous quarter.

Other Developments

The Company’s underground development in the second quarter consisted of 5,063 metres, compared to 5,100 metres completed in the previous quarter. There was 3,090 meters of diamond drilling completed in the quarter which consisted of definition drilling to assist in mining activity, resource upgrading and exploration at the Company’s three mines.

At the La Encantada Silver Mine:
The new 3,500 tpd cyanidation mill achieved commercial production effective April 1, 2010. Starting this quarter, all revenues and associated operating costs will be treated as commercial production rather than being capitalized, as was the case in the first quarter.
Average throughput in the new cyanidation plant averaged 2,908 tpd in the second quarter.
With the cyanidation plant operating at close to capacity a decision was made to suspend production of lead concentrate through the flotation circuit and focus on silver Doré production only, thereby dramatically reducing smelting and refining costs.
As throughput reaches capacity in the third quarter and other efficiencies are achieved, higher production levels are anticipated.
At the La Parrilla Silver Mine:
The completion of a new three kilometre ramp at the Quebradillas mining area in the first quarter is now having a positive impact on current production levels.
Due to a large high grade ore body that was discovered in 2006, this large sulphide area will allow for the eventual expansion of the La Parrilla mill which is now in the planning stages.
This mill expansion will allow for the production of zinc concentrates in addition to the lead concentrate and Doré bars currently being produced.
At the San Martin Mine:

The 2010 drilling exploration program from surface commenced in the second quarter. The La Esperanza vein which was discovered and sampled in mid 2009 and runs parallel to the main Zuloaga vein returned high anomalous values of silver on surface and is a high priority target for San Martin.
Mr. Keith Neumeyer, President and CEO had the following to say about the recent production results: “First Majestic continues to break new records and we are extremely pleased with the second quarter results. Our operational team continues to demonstrate that they are committed to increasing efficiencies to achieve our production goal of 6.35 million silver equivalent ounces in 2010.”

Ramon Davila, Ing., Chief Operating Officer for First Majestic, is the Qualified Person who reviewed this news release and oversaw the mining operations.

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.



Keith Neumeyer, President & CEO

To see the table and read this press statement on the First Majestic website click here

Why CashInfo.org has invested in Seabridge Gold

Again we have chosen a relative save play like we do with Silver Wheaton. Seabridge Gold is a company with a real long term strategy. The basis for this company was made from 1999 till 2002 when gold prices were at ultra low levels. A total of nine North-American gold deposits were acquired at very low prices. Then the second phase started, which was to expand its resource base by carefully targeted exploration. This phase proved highly successful…total measured and indicated gold resources grew 381% over five years while shares outstanding increased only 35.4% during the same period. By 2008, it was clear that the gold price had risen sufficiently to make a number of Seabridge’s projects potentially economic. Work therefore began on the third phase of Seabridge’s strategy…defining the economics of its projects through engineering studies and upgrading resources to reserves. This effort focused on the giant KSM project which, during the exploration phase, had emerged as the Company’s most important asset. A Preliminary Feasibility Study was completed for the KSM project in March 2010 and a substantial portion of its resources were converted to reserves. A similar program is being planned for Courageous Lake, Seabridge’s second-largest asset. Work on KSM and Courageous Lake has been funded in part by the sale of non-core assets which is consistent with the strategy of limiting share dilution and enhancing shareholder value.

We think the price of gold will continue to rise the coming years, considering the leverage to the gold price shares of Seabridge Gold Inc. have, this is a true value investment.
The following text is from the company website and describes very well why we trust this company:

Our goal in establishing Seabridge was to provide exceptional returns to shareholders by maximizing leverage to the gold price in what we perceived would be a rising gold price environment. Our strategy was to optimize gold resources while limiting shares outstanding. This approach provided a simple but effective measure for evaluating dollars spent in terms of resources added compared to shares issued.

We decided that our competitive advantage at Seabridge would be to evaluate, acquire, explore and develop gold deposits. From our inception, we determined that Seabridge would not build or operate mines…we would look to partner or sell assets which were ready for production. Building mines adds considerable technical and financial risks and requires a different set of skills and resources. Nor did we wish to undertake grass roots exploration which is very high risk. We therefore narrowed our value-added proposition to three phases which would unfold as the gold price rose…acquiring known deposits, expanding them and defining their economic parameters. In our view, this was a relatively lower risk and less capital-intensive strategy consistent with the goal of optimizing gold ownership while limiting share dilution.