Post by Catdaddy on Nov 9, 2007 9:52:54 GMT -5
Sorry about the length of this article, but I didn't want to edit it in any way. The portion on Newmont/Windjammeris about half way down in yellow bold print. There is some interesting stuff going on right now with Newmont. Later,
Catdaddy
Morningstockpicks.com: Gold-Season News Report: (OTC:HPGI), (AMEX:PZG), (OTCBB:FRLLF),
Thursday, November 08, 2007; Posted: 02:02 PM
Nov 08, 2007 (M2 PRESSWIRE via COMTEX) -- PZG | charts | news | PowerRating -- -- Hot Gold Mining Stocks to Watch: Hemisphere Gold Inc. (OTC:HPGI), Paramount Gold and Silver Corp. (AMEX:PZG), Farallon Resources Ltd.(OTCBB:FRLLF), Moneta Porcupine Mines Inc.(TSX:ME), Newmont Mining Corporation (NYSE:NEM),Grandview Gold Inc.(OTCBB:GVGDF),
*Gold settled at a record high of $833.50 an ounce in New York trading Wednesday as the dollar's decline and oil's record surge caused inflation-wary investors to seek stability in precious metals.
The previous high was $825.50 an ounce, set Jan. 21, 1980, or $2,128.09, adjusted for inflation, according to the Minneapolis Fed Calculator.
November-February has always historically been the most bullish time for gold. -As we enter "Gold-Season", we will continue to focus on particular mining companies of interest.
*To receive periodic "FREE MORNING STOCK PICKS" and occasional " NEWS UPDATES" for selected public companies, subscribe to: www.morningstockpicks.com/FreeMembership.cfm
(Nov 7, 2007) -- Hemisphere Gold Inc. (OTC:HPGI), a gold exploration, property acquisition and mining development company, is pleased to announce positive assay results from grab samples on the Alimonie South Grid.
The sampling methods, sample shipment, preparation, and data entry are following guidelines of international exploration under the supervision of a Qualified Person, Dr. Dennis J. LaPoint, and meet the guidelines of the TSX exchange and 43-101 Standards of Disclosure for Mineral Projects report requirements.
Sample GOLD GOLD in Check Assay GOLD in
number grams/ton Ounces/ton grams/ton gold Ounces/ton
ALIMONIE SOUTH GRID
GR45 110.44 3.55 113.22 3.64
GR60 25.50 0.82 24.60 0.79
GR42 8.97 0.29 0.00
GR43 1.11 0.04 0.00
GR46 1.10 0.04 1.30 0.04
GR47 1.01 0.03 1.09 0.04
GR62 0.47 0.02 0.48 0.02
GR41 0.41 0.01
GR44 0.16 0.01
During surveying and mapping the southern grid, grab samples were collected from small drainages being mined by local small scale miners (pockknockers). These very high assay results are from float derived from a near-by source.
Visible gold was seen in quartz veins with iron oxide coatings and limonitic voids developed from the weathering of pyrite. The samples come from different locations over 300 meters apart. The quartz veining is near the structural contact between sheared granite and very clay-rich soil that is thought to be weathered mafic igneous rock. This structure has pockknocker activity over a strike of at least 10 km.
The Company is now preparing the area to begin the Augering and sampling program.
President/CEO Ted Pomerleau stated: "These two areas will be worked extensively over the next six months. We feel that the Alimonie site which encompasses a large area has the potential of becoming a gold resource for the company."
About the Company
Hemisphere Gold Inc. is in the business of exploration and acquisition of gold properties in some of the world's best gold districts. The Company's objective is to take advantage of high-yielding untapped mineral producing properties through exploration and acquisition. The Company's flagship property is in Suriname, a democratic country which has had mining operations since the 1700s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate
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Paramount Gold and Silver Corp (TSX:PZG) (AMEX:PZG)
(Nov 08, 2007)--Precious metals mining exploration company Paramount Gold and Silver Corp (Toronto:PZG-TO.TO) (AMEX:PZG) (Frankfurt:P6G.F) (WKN: A0HGKQ) announced on Wednesday (7 November) a USD2.4m private placement financing of restricted stock at USD2.40 per unit.
The company said that each unit is comprised of one share of restricted common stock and one common share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of USD3.25 for a period of two years.
The Units were subscribed by Fondi Anima, a Italian fund management company, in reliance upon exemptions from registration and prospectus requirements of applicable securities legislation.
Paramount will reportedly use the funds to continue its drill programme in Mexico and to acquire additional advanced stage gold/silver properties.
To view the MSP profile for PZG, go to: www.morningstockpicks.com/detail.cfm?report_id=20
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Farallon Resources Ltd. (TSX:FAN)(OTCBB:FRLLF)
(Nov. 8, 2007) - thingy Whittington, President and CEO of Farallon Resources Ltd. (TSX:FAN)(OTCBB:FRLLF), is pleased to provide a further update on the core drilling program on the G-9 deposit at the Campo Morado polymetallic (zinc, gold, silver, copper, lead) project in Guerrero State, Mexico. The latest results are all from infill drilling at G-9. Infill drilling in the Southeast zone is now complete and a new resource estimate is being prepared.
The new results are from 27 holes, 5 of which are from the North zone and 22 of which are from the Southeast zone. Results are included in the Table of Assay Results - G-9 Deposit and hole locations are shown on the G-9 Drill Hole Location Map, both of which are attached. Assays are pending from a further 10 infill holes in the North zone and will be released when received.
Highlights are tabulated below:
Inter- True Drill From To val Width Inter- Hole (met- (met- (met- (met- val Au Ag Cu Pb Zn Number res) res) res) res) (feet) g/t g/t % % % 7652 419.85 422.95 3.10 3.10 10.2 6.94 568 3.88 1.92 14.00 7658 297.30 315.25 17.95 17.88 58.9 6.50 551 1.62 3.16 11.97 7668 413.75 428.10 14.35 13.86 47.1 1.21 92 2.79 0.86 18.28 7668 Incl. 413.75 420.75 7.00 6.76 23.0 1.61 144 3.90 1.36 26.09 7669 351.50 357.50 6.00 5.74 19.7 1.42 103 2.96 1.64 23.73
This completes the infill drilling program for the Southeast zone and a new resource estimate is now being prepared. The Company has retained resource estimation experts from consulting company Behre Dolbear to provide an opinion on the size, grades and categories of the mineral resources, based on the tighter drill spacing used in this drill program. The objective of the program was to upgrade the majority of the Southeast zone to indicated and/or measured status, to enable detailed mine planning to be carried out. The new resource estimate is expected by the end of November.
In addition, the trend of localized concentrations of high grade precious metals announced in the Company's September 10, 2007 News Release appears to be reinforced by these latest results. Selected intervals of high grade precious metals mineralization are given below. These metal grades have the potential to provide price diversification, as well as add significantly to the value, of G-9's production.
Inter- True
Drill From To val Width Inter- Hole (met- (met- (met- (met- val Au Ag Cu Pb Zn Number res) res) res) res) (feet) g/t g/t % % % 7651 Incl. 300.95 303.80 2.85 2.84 9.4 6.66 2224 1.34 1.20 8.81 7658 Incl. 308.30 313.30 5.00 4.98 16.4 13.56 1348 1.06 7.18 11.78 7671 570.00 578.00 8.00 8.00 26.2 10.21 373 0.58 2.38 1.73
President and CEO thingy Whittington said: "Farallon has completed a major step in its efforts to develop a mine at G-9. The infill drilling program was a key component of our efforts to upgrade the G-9 resource status. At the same time, these results continue to give us confidence that G-9 is a high grade zinc asset. The results also reaffirm the potential for high grade precious metal areas within the deposit. Drilling is now focused on infill at the North zone. In the New Year, we expect to move the two drills on site to the "Abajo" zone - the newly discovered zone north of the San Raphael fault. We continue to be encouraged by the drill results at G-9 and, in the immediate term, will be focusing on adding resources to G-9. We will then expand our exploration efforts to untested targets south of G-9, with the objective of advancing our second key corporate objective: finding another G-9 deposit."
The in-house qualified person for the drilling program and selection of samples for metallurgical testwork at Campo Morado is Daniel Kilby, P.Eng. ALS Chemex is the analytical laboratory for the project; sample preparation is done in Guadalajara, Mexico and analysis is done in Vancouver, BC. All samples are assayed for gold by fire assay fusion with a gravimetric or Atomic Absorption (AA) finish. Silver, copper, lead, zinc and 27 to 30 additional elements are determined for all samples by acid digestion, followed by an AA or ICP finish. Duplicates are analyzed by Acme Analytical Laboratories in Vancouver.
Farallon is advancing the exploration and development of the G-9 deposit. The Company's 2007 parallel track program has been successful to date. Exploration drilling is expanding the high-grade G-9 deposit, and mine planning and design, equipment acquisition and site preparation activities are also taking place with the goal of beginning production in July 2008. The Company's cash position is Cdn$34.9 million held in interest earning current accounts with Scotiabank.
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Moneta Porcupine Mines Inc.(TSX:ME), Newmont Mining Corporation (TSX:NMC)(NYSE:NEM)
(Nov. 7, 2007) - Moneta Porcupine Mines Inc.(TSX:ME) (BERLIN:ME) (FRANKFURT:MOP)(XETRA:MOP) is pleased to announce that it has entered into an agreement with Newmont Canada Limited, a subsidiary of Newmont Mining Corporation (TSX:NMC)(NYSE:NEM)(ASX:NEM) to acquire Newmont's interest in a joint venture known as the Windjammer Project ("Windjammer"). The Windjammer property is contiguous to Moneta's Golden Highway Project centered in Michaud Township, 100 km. east of Timmins, Ontario.
Moneta will issue 4,380,000 common shares to Newmont as consideration for the acquisition which will have a hold period of 12 months. Newmont holds a 50% interest and acts as the operator of the Windjammer joint venture and Moneta will assume all of Newmont's rights, obligations and liabilities under the joint venture and associated mining leases. Moneta has also granted Newmont an option for a period of 12 months from closing to participate on a pro rata basis in any equity financing completed by Moneta during the period. Completion of the transaction and participation in an equity financing are subject only to regulatory and TSX approval.
The Windjammer joint venture holds two mining leases comprising 22 mining claims in Garrison and Michaud Townships covering 356 hectares. Drilling in the 1980s by Noranda Inc. ("Noranda") identified widespread gold mineralization in a number of zones and resulted in two separate gold discoveries, Windjammer South and Windjammer North, which have had little further development in the intervening period. Windjammer South lies one kilometre easterly along strike from Moneta's Southwest Zone, which has an inferred historical resource of approximately 625,000 ounces of gold calculated by Barrick Gold Corporation ("Barrick") (Moneta Porcupine Mines Inc.: Meixner Report, SEDAR filing on April 21, 2005; see "Historical Resource Estimate" below).
Windjammer South in combination with Moneta's Southwest Zone and the 55 Zone discovered by the Michaud Joint Venture (50/50 with Acrex Ventures Ltd. ("Acrex")) represents a strike length of approximately four kilometres with gold mineralization occurring within Timiskaming sediments along the entire length. Several exploration holes drilled in the area between Windjammer South and the Southwest Zone produced intersections and grades similar to those found in both zones and were not followed up with further drilling.
Moneta intends to complete a National Instrument (NI) 43-101 technical report on Windjammer defining a resource to current standards as soon as possible. The property lies within the "area-of-interest" of the Michaud Joint Venture. Acrex has agreed to waive its area-of-interest rights under the Michaud Joint Venture and will not be participating in future exploration of Windjammer.
Windjammer South
The Windjammer property is located immediately adjacent to the east of Moneta's Golden Highway Project and Windjammer South lies just south of the Destor Porcupine Fault Zone ("Destor") on strike from Moneta's Southwest Zone. Drilling on Windjammer South consisted of 35 drill holes totaling almost 11,000 metres in the 1980s, in addition to a number of holes drilled prior to that time.
The drilling identified several gold bearing zones within a mineralized system currently extending for 400 metres along strike to a depth of 350 metres. The system dips moderately to the southeast and is open in both directions along strike and to depth. Intersections reported include 9.4 grams/tonne (g/t) over 9.7 metres and 5.6 g/t over 6.5 metres (core lengths) among broad intersections of lower-grade material.
Windjammer South appears to closely resemble the style of mineralization in the nearby Southwest Zone. Gold mineralization is typically hosted by fine quartz veining within a restricted window of variably altered (hematite, silica and sericite) Timiskaming sediments which form the hanging wall to a sequence of banded magnetite iron formations.
Windjammer North The Windjammer North discovery is located one kilometre north of Windjammer South on the northern boundary of the Destor and is on strike with Moneta's Last Chance, Twin Creek, Miller and Landing Zones. In total, this area represents a largely unexplored strike length of 5.3 kilometres. Moneta's historical drilling on these zones produced several encouraging gold intersections which included 11.3 g/t over 3.7 metres, 20.6 g/t over 1.2 metres, 8.6 g/t over 2.5 metres, 13.0 g/t over 3.1 metres and 13.0 g/t over 1.8 metres (core lengths).
Windjammer North has been defined by 23 holes totaling 9,500 metres drilled by Noranda over a strike length of 400 metres with reported intersections including 6.4 g/t over 5.9 metres (core length). Gold mineralization is hosted in altered mafic volcanic rocks within ultramafic volcanics and typically consists of quartz carbonate veining in high strain zones with pyrite, ankerite, silica, fuchsite and sericite alteration.
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Grandview Gold Inc. (TSX:GVX)(OTCBB:GVGDF)
(Nov. 8, 2007) - Grandview Gold Inc. (TSX:GVX)(OTCBB:GVGDF), as joint venture operator pursuant to its agreement with Mill City Gold Corp., is very pleased to announce final assay results on two additional holes drilled to test structural zones within the NI 43-101 compliant drill inferred 1.426 million ounce resource area on the Company's 28 square-mile Pony Creek/Elliot Dome property on the Carlin Trend in north central Nevada (the "Property"), but outside of areas targeted earlier in the drill program. Hole PC-07-21 returned 1.45 g/tonne gold over 16.7 m (0.042 opt over 55 ft) including a higher grade section of 3.06 g/tonne gold over 6.1 m (0.089 opt over 20 ft) and PC-07-18 assayed 0.53 g/tonne gold over 19.8 m (0.015 opt over 65 ft).
Grandview President and CEO Paul Sarjeant, B.Sc., P.Geo is thrilled by the cumulative results of the 2007 program at Pony Creek, saying "We couldn't be more pleased about the Company's Nevada program. We've had a stellar season, announced some very significant news, and have much to look forward to next exploration season. These last two holes indicate continuation of the mineralized zone and a potential new target area, and we will be weighting the data against historic drilling in the vicinity to help us design drill targets for 2008. Certainly, we will be looking at how we can, over time, upgrade our 1.426 million ounce gold inferred resource, but in so doing we will be drilling more holes, drilling deeper and refining our targets with the end goal of having a major gold producer sit up and take notice."
Table 1. Significant Assay Results from PC-07-18 and PC-07-21 DDH# From m (ft) To m (ft) Length m (ft)(i) Au g/tonne (opt) PC-07-18 132.6 (435) 152.4 (500) 19.8 (65) 0.53 (0.015) PC-07-21 29.0 (95) 45.7 (150) 16.7 (55) 1.45 (0.042) incl 38.1 (125) 44.2 (145) 6.1 (20) 3.06 (0.089) (i) Drill hole intercept length should not be assumed to be true thicknesses
The PC-20 zone refers to a target area within the inferred resource area, first drilled by Newmont Mining Corp. ("Newmont") in 1981. Results from PC-07-21 and PC-07-18 as well as for holes 16, 19, and 20 released earlier this season, appear to confirm Grandview geologists' interpretation of a north-south structural control on mineralization in the inferred resource area.
The PC-07-21 target concept, while similar to the PC-07-16, 19, and 20 target concept, was applied to a north-south structure area located 370 m west of the PC-20 zone. Mineralization in PC-07-21 is located immediately at the contact between the Pony Creek rhyolite unit and the underlying sandstone unit, similar to the geology around hole PC-20. The step-out was considerable and into an area with less historical data. Company geologists however, were confident of the target's potential and are encouraged by the results and possibility of enlarging and ultimately upgrading the inferred resource area.
Hole PC-07-18 was located approximately 150 m (500 ft) northwest of the PC-20 area and was designed to intercept another structural zone within the Pony Creek rhyolite. The holes intercepted a wide envelope of gold values that defined the structure within the intrusive unit but did not intercept the sediment unit in proximity to the structure.
Table 2. Chronology of Significant Assays: Relevant Historic Holes within the PC-20 Zone DDH# From m (ft) To m(ft) Length m (ft)(ii) Au g/tonne (opt) PC-07-19(i) GVX 2007 111.2 (365) 153.9 (505) 42.7 (140) 2.59 (0.075) incl 123.4 (405) 140.2 (460) 16.8 (55) 5.90 (0.172) incl 123.4 (405) 132.6 (435) 9.2 (30) 9.49 (0.277) incl 123.4 (405) 125.0 (410) 1.6 (5) 13.45 (0.392) PC-07-20(i) GVX 2007 126.5 (415) 173.7 (570) 47.2 (155) 1.33 (0.039) incl 131.1 (430) 155.5 (510) 24.4 (80) 2.21 (0.064) incl 135.6 (445) 141.7 (465) 6.1 (20) 4.12 (0.120) incl 152.4 (500) 155.4 (510) 3.0 (10) 4.39 (0.128) PC-07-16(i) GVX 2007 128.0 (420) 164.6 (540) 36.6 (120) 2.18 (0.064) incl 128.0 (420) 134.1 (440) 6.1 (20) 3.18 (0.093) incl 152.4 (500) 164.6 (540) 12.2 (40) 3.29 (0.096) incl 153.9 (505) 155.5 (510) 1.5 (5) 10.05 (0.293) PC-06-06(i) 100.6 (330) 109.7 (360) 9.1 (30) 2.72 (0.079) GVX 2006 incl(i) 100.6 (330) 112.5 (340) 3.05 (10) 5.36 (0.156) PC-05-02(i) GVX 2005 120.4 (395) 137.2 (450) 16.8 (55) 5.10 (0.149) incl(i) 126.5 (415) 129.5 (425) 3.05 (10) 12.50 (0.365) PC-20(i) Newmont 1981 123.4 (405) 157.0 (515) 33.5 (110) 5.73 (0.167) incl(i) 125.0 (410) 132.6 (435) 7.6 (25) 5.66 (0.165) incl(i) 134.1 (440) 141.7 (465) 7.6 (25) 15.43 (0.450) (i) Previously reported (ii) Drill hole intercept length should not be assumed to be true thicknesses.
PC-07-18 and PC-07-21's step-out locations and target depths were calculated by Grandview geologists by incorporating geological data with assays from all Pony Creek holes drilled this season, PC-06-06 drilled by the Company in 2006, PC-05-02 drilled by the Company in 2005 and historic PC-20 drilled by Newmont in 1981. Significant assays from earlier in the 2007 program, plus those from PC-06-06 and PC-05-02 are included for chronological reference in Table 2 above. See the Company's news releases dated September 26, October 10 and November 1, 2007 for details of the 2007 Nevada drilling program. For details of PC-06-06 and PC-05-02, see Grandview news releases dated December 20, 2006 and February 1, 2006 respectively. For details of PC-20 see the Report on www.sedar.com.
A 1.426 million ounce drill inferred resource at Pony Creek South and North was identified on the property by the previous operators. The National Instrument 43-101 report (the "Report") dated March 18, 2004 titled "Evaluation of the Gold Resource on the Pony Creek Property", was prepared by Rick H. Russell, MSc, a licensed geologist and can be reviewed at www.sedar.com.
Grandview Chairman, Dr. Michael Hitch, M.Sc, Ph.D, P.Geo concludes, "It is significant that the Company announces a successful close to its 2007 program in Nevada almost one year to the day that it announced the appointment of Paul Sarjeant to the office of President and CEO of the Company. I believe I speak on behalf of the entire board of directors when I propose that that decision was of strategic benefit to the Company and to its shareholders."
The drilling program was carried out under the supervision of Paul Sarjeant, B.Sc, P.Geo, President and CEO of Grandview, who is a "qualified person" as defined by NI 43-101. The information in this release was reviewed by and prepared under the direction of Paul Sarjeant. All samples were prepared and analyzed by ALS Chemex, with sample preparation in Elko and analysis in Vancouver.
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Catdaddy
Morningstockpicks.com: Gold-Season News Report: (OTC:HPGI), (AMEX:PZG), (OTCBB:FRLLF),
Thursday, November 08, 2007; Posted: 02:02 PM
Nov 08, 2007 (M2 PRESSWIRE via COMTEX) -- PZG | charts | news | PowerRating -- -- Hot Gold Mining Stocks to Watch: Hemisphere Gold Inc. (OTC:HPGI), Paramount Gold and Silver Corp. (AMEX:PZG), Farallon Resources Ltd.(OTCBB:FRLLF), Moneta Porcupine Mines Inc.(TSX:ME), Newmont Mining Corporation (NYSE:NEM),Grandview Gold Inc.(OTCBB:GVGDF),
*Gold settled at a record high of $833.50 an ounce in New York trading Wednesday as the dollar's decline and oil's record surge caused inflation-wary investors to seek stability in precious metals.
The previous high was $825.50 an ounce, set Jan. 21, 1980, or $2,128.09, adjusted for inflation, according to the Minneapolis Fed Calculator.
November-February has always historically been the most bullish time for gold. -As we enter "Gold-Season", we will continue to focus on particular mining companies of interest.
*To receive periodic "FREE MORNING STOCK PICKS" and occasional " NEWS UPDATES" for selected public companies, subscribe to: www.morningstockpicks.com/FreeMembership.cfm
(Nov 7, 2007) -- Hemisphere Gold Inc. (OTC:HPGI), a gold exploration, property acquisition and mining development company, is pleased to announce positive assay results from grab samples on the Alimonie South Grid.
The sampling methods, sample shipment, preparation, and data entry are following guidelines of international exploration under the supervision of a Qualified Person, Dr. Dennis J. LaPoint, and meet the guidelines of the TSX exchange and 43-101 Standards of Disclosure for Mineral Projects report requirements.
Sample GOLD GOLD in Check Assay GOLD in
number grams/ton Ounces/ton grams/ton gold Ounces/ton
ALIMONIE SOUTH GRID
GR45 110.44 3.55 113.22 3.64
GR60 25.50 0.82 24.60 0.79
GR42 8.97 0.29 0.00
GR43 1.11 0.04 0.00
GR46 1.10 0.04 1.30 0.04
GR47 1.01 0.03 1.09 0.04
GR62 0.47 0.02 0.48 0.02
GR41 0.41 0.01
GR44 0.16 0.01
During surveying and mapping the southern grid, grab samples were collected from small drainages being mined by local small scale miners (pockknockers). These very high assay results are from float derived from a near-by source.
Visible gold was seen in quartz veins with iron oxide coatings and limonitic voids developed from the weathering of pyrite. The samples come from different locations over 300 meters apart. The quartz veining is near the structural contact between sheared granite and very clay-rich soil that is thought to be weathered mafic igneous rock. This structure has pockknocker activity over a strike of at least 10 km.
The Company is now preparing the area to begin the Augering and sampling program.
President/CEO Ted Pomerleau stated: "These two areas will be worked extensively over the next six months. We feel that the Alimonie site which encompasses a large area has the potential of becoming a gold resource for the company."
About the Company
Hemisphere Gold Inc. is in the business of exploration and acquisition of gold properties in some of the world's best gold districts. The Company's objective is to take advantage of high-yielding untapped mineral producing properties through exploration and acquisition. The Company's flagship property is in Suriname, a democratic country which has had mining operations since the 1700s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate
TO READ THE MSP PROFILE FOR HPGI.PK, GO TO: www.morningstockpicks.com/detail.cfm?report_id=32
About MorningStockPicks.com
MorningStockPicks.com is a privately owned Investor Relations Consulting Firm engaged in raising investor awareness through the widespread dissemination of material data pertaining to selected publicly traded entities.
One of the methods by which we achieve this is our Brighter Side News Report, a free internet based publication.
*To receive "FREE MORNING STOCK PICKS" and occasional " NEWS UPDATES" for selected public companies, subscribe to: www.morningstockpicks.com/FreeMembership.cfm
*For more information on becoming a corp. client, and having your company's news disseminated to thousands of potential investors globally, go to: www.morningstockpicks.com/BecomeClient.cfm
Or contact:
Mr. Brent O'Connor I.R.Director-MorningStockPicks.com brent@morningstockpicks.com
Paramount Gold and Silver Corp (TSX:PZG) (AMEX:PZG)
(Nov 08, 2007)--Precious metals mining exploration company Paramount Gold and Silver Corp (Toronto:PZG-TO.TO) (AMEX:PZG) (Frankfurt:P6G.F) (WKN: A0HGKQ) announced on Wednesday (7 November) a USD2.4m private placement financing of restricted stock at USD2.40 per unit.
The company said that each unit is comprised of one share of restricted common stock and one common share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of USD3.25 for a period of two years.
The Units were subscribed by Fondi Anima, a Italian fund management company, in reliance upon exemptions from registration and prospectus requirements of applicable securities legislation.
Paramount will reportedly use the funds to continue its drill programme in Mexico and to acquire additional advanced stage gold/silver properties.
To view the MSP profile for PZG, go to: www.morningstockpicks.com/detail.cfm?report_id=20
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Farallon Resources Ltd. (TSX:FAN)(OTCBB:FRLLF)
(Nov. 8, 2007) - thingy Whittington, President and CEO of Farallon Resources Ltd. (TSX:FAN)(OTCBB:FRLLF), is pleased to provide a further update on the core drilling program on the G-9 deposit at the Campo Morado polymetallic (zinc, gold, silver, copper, lead) project in Guerrero State, Mexico. The latest results are all from infill drilling at G-9. Infill drilling in the Southeast zone is now complete and a new resource estimate is being prepared.
The new results are from 27 holes, 5 of which are from the North zone and 22 of which are from the Southeast zone. Results are included in the Table of Assay Results - G-9 Deposit and hole locations are shown on the G-9 Drill Hole Location Map, both of which are attached. Assays are pending from a further 10 infill holes in the North zone and will be released when received.
Highlights are tabulated below:
Inter- True Drill From To val Width Inter- Hole (met- (met- (met- (met- val Au Ag Cu Pb Zn Number res) res) res) res) (feet) g/t g/t % % % 7652 419.85 422.95 3.10 3.10 10.2 6.94 568 3.88 1.92 14.00 7658 297.30 315.25 17.95 17.88 58.9 6.50 551 1.62 3.16 11.97 7668 413.75 428.10 14.35 13.86 47.1 1.21 92 2.79 0.86 18.28 7668 Incl. 413.75 420.75 7.00 6.76 23.0 1.61 144 3.90 1.36 26.09 7669 351.50 357.50 6.00 5.74 19.7 1.42 103 2.96 1.64 23.73
This completes the infill drilling program for the Southeast zone and a new resource estimate is now being prepared. The Company has retained resource estimation experts from consulting company Behre Dolbear to provide an opinion on the size, grades and categories of the mineral resources, based on the tighter drill spacing used in this drill program. The objective of the program was to upgrade the majority of the Southeast zone to indicated and/or measured status, to enable detailed mine planning to be carried out. The new resource estimate is expected by the end of November.
In addition, the trend of localized concentrations of high grade precious metals announced in the Company's September 10, 2007 News Release appears to be reinforced by these latest results. Selected intervals of high grade precious metals mineralization are given below. These metal grades have the potential to provide price diversification, as well as add significantly to the value, of G-9's production.
Inter- True
Drill From To val Width Inter- Hole (met- (met- (met- (met- val Au Ag Cu Pb Zn Number res) res) res) res) (feet) g/t g/t % % % 7651 Incl. 300.95 303.80 2.85 2.84 9.4 6.66 2224 1.34 1.20 8.81 7658 Incl. 308.30 313.30 5.00 4.98 16.4 13.56 1348 1.06 7.18 11.78 7671 570.00 578.00 8.00 8.00 26.2 10.21 373 0.58 2.38 1.73
President and CEO thingy Whittington said: "Farallon has completed a major step in its efforts to develop a mine at G-9. The infill drilling program was a key component of our efforts to upgrade the G-9 resource status. At the same time, these results continue to give us confidence that G-9 is a high grade zinc asset. The results also reaffirm the potential for high grade precious metal areas within the deposit. Drilling is now focused on infill at the North zone. In the New Year, we expect to move the two drills on site to the "Abajo" zone - the newly discovered zone north of the San Raphael fault. We continue to be encouraged by the drill results at G-9 and, in the immediate term, will be focusing on adding resources to G-9. We will then expand our exploration efforts to untested targets south of G-9, with the objective of advancing our second key corporate objective: finding another G-9 deposit."
The in-house qualified person for the drilling program and selection of samples for metallurgical testwork at Campo Morado is Daniel Kilby, P.Eng. ALS Chemex is the analytical laboratory for the project; sample preparation is done in Guadalajara, Mexico and analysis is done in Vancouver, BC. All samples are assayed for gold by fire assay fusion with a gravimetric or Atomic Absorption (AA) finish. Silver, copper, lead, zinc and 27 to 30 additional elements are determined for all samples by acid digestion, followed by an AA or ICP finish. Duplicates are analyzed by Acme Analytical Laboratories in Vancouver.
Farallon is advancing the exploration and development of the G-9 deposit. The Company's 2007 parallel track program has been successful to date. Exploration drilling is expanding the high-grade G-9 deposit, and mine planning and design, equipment acquisition and site preparation activities are also taking place with the goal of beginning production in July 2008. The Company's cash position is Cdn$34.9 million held in interest earning current accounts with Scotiabank.
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Moneta Porcupine Mines Inc.(TSX:ME), Newmont Mining Corporation (TSX:NMC)(NYSE:NEM)
(Nov. 7, 2007) - Moneta Porcupine Mines Inc.(TSX:ME) (BERLIN:ME) (FRANKFURT:MOP)(XETRA:MOP) is pleased to announce that it has entered into an agreement with Newmont Canada Limited, a subsidiary of Newmont Mining Corporation (TSX:NMC)(NYSE:NEM)(ASX:NEM) to acquire Newmont's interest in a joint venture known as the Windjammer Project ("Windjammer"). The Windjammer property is contiguous to Moneta's Golden Highway Project centered in Michaud Township, 100 km. east of Timmins, Ontario.
Moneta will issue 4,380,000 common shares to Newmont as consideration for the acquisition which will have a hold period of 12 months. Newmont holds a 50% interest and acts as the operator of the Windjammer joint venture and Moneta will assume all of Newmont's rights, obligations and liabilities under the joint venture and associated mining leases. Moneta has also granted Newmont an option for a period of 12 months from closing to participate on a pro rata basis in any equity financing completed by Moneta during the period. Completion of the transaction and participation in an equity financing are subject only to regulatory and TSX approval.
The Windjammer joint venture holds two mining leases comprising 22 mining claims in Garrison and Michaud Townships covering 356 hectares. Drilling in the 1980s by Noranda Inc. ("Noranda") identified widespread gold mineralization in a number of zones and resulted in two separate gold discoveries, Windjammer South and Windjammer North, which have had little further development in the intervening period. Windjammer South lies one kilometre easterly along strike from Moneta's Southwest Zone, which has an inferred historical resource of approximately 625,000 ounces of gold calculated by Barrick Gold Corporation ("Barrick") (Moneta Porcupine Mines Inc.: Meixner Report, SEDAR filing on April 21, 2005; see "Historical Resource Estimate" below).
Windjammer South in combination with Moneta's Southwest Zone and the 55 Zone discovered by the Michaud Joint Venture (50/50 with Acrex Ventures Ltd. ("Acrex")) represents a strike length of approximately four kilometres with gold mineralization occurring within Timiskaming sediments along the entire length. Several exploration holes drilled in the area between Windjammer South and the Southwest Zone produced intersections and grades similar to those found in both zones and were not followed up with further drilling.
Moneta intends to complete a National Instrument (NI) 43-101 technical report on Windjammer defining a resource to current standards as soon as possible. The property lies within the "area-of-interest" of the Michaud Joint Venture. Acrex has agreed to waive its area-of-interest rights under the Michaud Joint Venture and will not be participating in future exploration of Windjammer.
Windjammer South
The Windjammer property is located immediately adjacent to the east of Moneta's Golden Highway Project and Windjammer South lies just south of the Destor Porcupine Fault Zone ("Destor") on strike from Moneta's Southwest Zone. Drilling on Windjammer South consisted of 35 drill holes totaling almost 11,000 metres in the 1980s, in addition to a number of holes drilled prior to that time.
The drilling identified several gold bearing zones within a mineralized system currently extending for 400 metres along strike to a depth of 350 metres. The system dips moderately to the southeast and is open in both directions along strike and to depth. Intersections reported include 9.4 grams/tonne (g/t) over 9.7 metres and 5.6 g/t over 6.5 metres (core lengths) among broad intersections of lower-grade material.
Windjammer South appears to closely resemble the style of mineralization in the nearby Southwest Zone. Gold mineralization is typically hosted by fine quartz veining within a restricted window of variably altered (hematite, silica and sericite) Timiskaming sediments which form the hanging wall to a sequence of banded magnetite iron formations.
Windjammer North The Windjammer North discovery is located one kilometre north of Windjammer South on the northern boundary of the Destor and is on strike with Moneta's Last Chance, Twin Creek, Miller and Landing Zones. In total, this area represents a largely unexplored strike length of 5.3 kilometres. Moneta's historical drilling on these zones produced several encouraging gold intersections which included 11.3 g/t over 3.7 metres, 20.6 g/t over 1.2 metres, 8.6 g/t over 2.5 metres, 13.0 g/t over 3.1 metres and 13.0 g/t over 1.8 metres (core lengths).
Windjammer North has been defined by 23 holes totaling 9,500 metres drilled by Noranda over a strike length of 400 metres with reported intersections including 6.4 g/t over 5.9 metres (core length). Gold mineralization is hosted in altered mafic volcanic rocks within ultramafic volcanics and typically consists of quartz carbonate veining in high strain zones with pyrite, ankerite, silica, fuchsite and sericite alteration.
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Grandview Gold Inc. (TSX:GVX)(OTCBB:GVGDF)
(Nov. 8, 2007) - Grandview Gold Inc. (TSX:GVX)(OTCBB:GVGDF), as joint venture operator pursuant to its agreement with Mill City Gold Corp., is very pleased to announce final assay results on two additional holes drilled to test structural zones within the NI 43-101 compliant drill inferred 1.426 million ounce resource area on the Company's 28 square-mile Pony Creek/Elliot Dome property on the Carlin Trend in north central Nevada (the "Property"), but outside of areas targeted earlier in the drill program. Hole PC-07-21 returned 1.45 g/tonne gold over 16.7 m (0.042 opt over 55 ft) including a higher grade section of 3.06 g/tonne gold over 6.1 m (0.089 opt over 20 ft) and PC-07-18 assayed 0.53 g/tonne gold over 19.8 m (0.015 opt over 65 ft).
Grandview President and CEO Paul Sarjeant, B.Sc., P.Geo is thrilled by the cumulative results of the 2007 program at Pony Creek, saying "We couldn't be more pleased about the Company's Nevada program. We've had a stellar season, announced some very significant news, and have much to look forward to next exploration season. These last two holes indicate continuation of the mineralized zone and a potential new target area, and we will be weighting the data against historic drilling in the vicinity to help us design drill targets for 2008. Certainly, we will be looking at how we can, over time, upgrade our 1.426 million ounce gold inferred resource, but in so doing we will be drilling more holes, drilling deeper and refining our targets with the end goal of having a major gold producer sit up and take notice."
Table 1. Significant Assay Results from PC-07-18 and PC-07-21 DDH# From m (ft) To m (ft) Length m (ft)(i) Au g/tonne (opt) PC-07-18 132.6 (435) 152.4 (500) 19.8 (65) 0.53 (0.015) PC-07-21 29.0 (95) 45.7 (150) 16.7 (55) 1.45 (0.042) incl 38.1 (125) 44.2 (145) 6.1 (20) 3.06 (0.089) (i) Drill hole intercept length should not be assumed to be true thicknesses
The PC-20 zone refers to a target area within the inferred resource area, first drilled by Newmont Mining Corp. ("Newmont") in 1981. Results from PC-07-21 and PC-07-18 as well as for holes 16, 19, and 20 released earlier this season, appear to confirm Grandview geologists' interpretation of a north-south structural control on mineralization in the inferred resource area.
The PC-07-21 target concept, while similar to the PC-07-16, 19, and 20 target concept, was applied to a north-south structure area located 370 m west of the PC-20 zone. Mineralization in PC-07-21 is located immediately at the contact between the Pony Creek rhyolite unit and the underlying sandstone unit, similar to the geology around hole PC-20. The step-out was considerable and into an area with less historical data. Company geologists however, were confident of the target's potential and are encouraged by the results and possibility of enlarging and ultimately upgrading the inferred resource area.
Hole PC-07-18 was located approximately 150 m (500 ft) northwest of the PC-20 area and was designed to intercept another structural zone within the Pony Creek rhyolite. The holes intercepted a wide envelope of gold values that defined the structure within the intrusive unit but did not intercept the sediment unit in proximity to the structure.
Table 2. Chronology of Significant Assays: Relevant Historic Holes within the PC-20 Zone DDH# From m (ft) To m(ft) Length m (ft)(ii) Au g/tonne (opt) PC-07-19(i) GVX 2007 111.2 (365) 153.9 (505) 42.7 (140) 2.59 (0.075) incl 123.4 (405) 140.2 (460) 16.8 (55) 5.90 (0.172) incl 123.4 (405) 132.6 (435) 9.2 (30) 9.49 (0.277) incl 123.4 (405) 125.0 (410) 1.6 (5) 13.45 (0.392) PC-07-20(i) GVX 2007 126.5 (415) 173.7 (570) 47.2 (155) 1.33 (0.039) incl 131.1 (430) 155.5 (510) 24.4 (80) 2.21 (0.064) incl 135.6 (445) 141.7 (465) 6.1 (20) 4.12 (0.120) incl 152.4 (500) 155.4 (510) 3.0 (10) 4.39 (0.128) PC-07-16(i) GVX 2007 128.0 (420) 164.6 (540) 36.6 (120) 2.18 (0.064) incl 128.0 (420) 134.1 (440) 6.1 (20) 3.18 (0.093) incl 152.4 (500) 164.6 (540) 12.2 (40) 3.29 (0.096) incl 153.9 (505) 155.5 (510) 1.5 (5) 10.05 (0.293) PC-06-06(i) 100.6 (330) 109.7 (360) 9.1 (30) 2.72 (0.079) GVX 2006 incl(i) 100.6 (330) 112.5 (340) 3.05 (10) 5.36 (0.156) PC-05-02(i) GVX 2005 120.4 (395) 137.2 (450) 16.8 (55) 5.10 (0.149) incl(i) 126.5 (415) 129.5 (425) 3.05 (10) 12.50 (0.365) PC-20(i) Newmont 1981 123.4 (405) 157.0 (515) 33.5 (110) 5.73 (0.167) incl(i) 125.0 (410) 132.6 (435) 7.6 (25) 5.66 (0.165) incl(i) 134.1 (440) 141.7 (465) 7.6 (25) 15.43 (0.450) (i) Previously reported (ii) Drill hole intercept length should not be assumed to be true thicknesses.
PC-07-18 and PC-07-21's step-out locations and target depths were calculated by Grandview geologists by incorporating geological data with assays from all Pony Creek holes drilled this season, PC-06-06 drilled by the Company in 2006, PC-05-02 drilled by the Company in 2005 and historic PC-20 drilled by Newmont in 1981. Significant assays from earlier in the 2007 program, plus those from PC-06-06 and PC-05-02 are included for chronological reference in Table 2 above. See the Company's news releases dated September 26, October 10 and November 1, 2007 for details of the 2007 Nevada drilling program. For details of PC-06-06 and PC-05-02, see Grandview news releases dated December 20, 2006 and February 1, 2006 respectively. For details of PC-20 see the Report on www.sedar.com.
A 1.426 million ounce drill inferred resource at Pony Creek South and North was identified on the property by the previous operators. The National Instrument 43-101 report (the "Report") dated March 18, 2004 titled "Evaluation of the Gold Resource on the Pony Creek Property", was prepared by Rick H. Russell, MSc, a licensed geologist and can be reviewed at www.sedar.com.
Grandview Chairman, Dr. Michael Hitch, M.Sc, Ph.D, P.Geo concludes, "It is significant that the Company announces a successful close to its 2007 program in Nevada almost one year to the day that it announced the appointment of Paul Sarjeant to the office of President and CEO of the Company. I believe I speak on behalf of the entire board of directors when I propose that that decision was of strategic benefit to the Company and to its shareholders."
The drilling program was carried out under the supervision of Paul Sarjeant, B.Sc, P.Geo, President and CEO of Grandview, who is a "qualified person" as defined by NI 43-101. The information in this release was reviewed by and prepared under the direction of Paul Sarjeant. All samples were prepared and analyzed by ALS Chemex, with sample preparation in Elko and analysis in Vancouver.
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