Teck Resources Ltd (NYSE:TCK) and Rox Resources (ASX:RXL) have come to terms on a joint venture and farm-in deal for the Myrtle zinc-lead deposit.
The Myrtle project, which Rox holds the rights to, includes an indicated and inferred resource of 43.6 million tons at a combined grade of 5.03 per cent.
Terms of the letter of intent include Teck being able to farm-in the tenements and earn 51 percent interest. On Teck's part they'll have to spend $5 million over a period of four years to attain that percentage.
Teck must also spend at least $1 million by July 21, 2012, part of which must include a drilling program, before they would be allowed to withdraw.
If Teck spends an additional $10 million over four more years, they would get another 19 percent interest, bringing the total to 70 percent.
Myrtle is close to MacArthur River, which is one of the largest zinc-lead deposits in the world.
Showing posts with label Lead. Show all posts
Showing posts with label Lead. Show all posts
Monday, October 25, 2010
Metalico (AMEX:MEA) Should Beat Quarterly Estimates
Canaccord Genuity said they're maintaining their "Buy/Best Idea" on scrap metal dealer Metalico (Amex:MEA) as their quarterly results report approaches.
"We reiterate our BUY/Best Idea rating on Metalico ahead of the company’s Q3 results on Friday, October 29 before the market open. We look for upside to our Q3 EPS estimate of $0.11 and anticipate management will have a bullish outlook regarding the PGM and nonferrous metals segments in Q4. Trading at less than 9x our 2011 EPS estimate, MEA has significant upside potential, in our view."
Metalico, Inc. also produces and markets a variety of lead products.
The company closed Friday at $4.73, up $0.27, or 6.05 percent. Trading volume was about double its normal 3-month average. Canaccord has a price target of $8 on them.
"We reiterate our BUY/Best Idea rating on Metalico ahead of the company’s Q3 results on Friday, October 29 before the market open. We look for upside to our Q3 EPS estimate of $0.11 and anticipate management will have a bullish outlook regarding the PGM and nonferrous metals segments in Q4. Trading at less than 9x our 2011 EPS estimate, MEA has significant upside potential, in our view."
Metalico, Inc. also produces and markets a variety of lead products.
The company closed Friday at $4.73, up $0.27, or 6.05 percent. Trading volume was about double its normal 3-month average. Canaccord has a price target of $8 on them.
Thursday, September 2, 2010
Goldcorp (NYSE:GG) Close to Commerical Production at Penasquito
Goldcorp Inc. (NYSE:GG) is close to completing the construction phase of its Penasquito mine in Mexico, and president and chief executive officer, Chuck Jeannes, said he anticipates, in the near future, announcing commercial production has launched.
“We’re just completing construction and, hopefully within just a matter of days, of declaring commercial production at Penasquito,” Jeannes said.
Jeannes added, the project remains on schedule, and is within the projected budget of $1.7 billion.
The Penasquito mine project is the major impetus behind the strategy by Goldcorp of increasing their production by 50 percent over above, over the next five years.
The first year of the mine should produce 180,000 ounces of gold, increasing to an average of about 500,000 ounces a year, topping off at about 800,000 ounces of gold produced by 2014.
Gold reserves at estimated at 17.8 million ounces, and silver reserves at 30 million ounces. There is also zinc and lead in the mine.
“We’re just completing construction and, hopefully within just a matter of days, of declaring commercial production at Penasquito,” Jeannes said.
Jeannes added, the project remains on schedule, and is within the projected budget of $1.7 billion.
The Penasquito mine project is the major impetus behind the strategy by Goldcorp of increasing their production by 50 percent over above, over the next five years.
The first year of the mine should produce 180,000 ounces of gold, increasing to an average of about 500,000 ounces a year, topping off at about 800,000 ounces of gold produced by 2014.
Gold reserves at estimated at 17.8 million ounces, and silver reserves at 30 million ounces. There is also zinc and lead in the mine.
Thursday, July 1, 2010
Industrial Metals Lead Commodities Down for Quarter
Commodities experienced their worst quarter in over a year, as industrial metals plummeted in price on an extremely weak U.S. economy, China urban property inflation concerns, and the sovereign debt crisis in Europe.
The worst of the industrial metals was zinc, which fell 25 percent for the quarter, its worst performance since the latter part of 2008. Nickel was much better, dropping 22 percent for the quarter, followed by lead, which was down 19 percent, copper declining 17 percent, and aluminum falling 15 percent.
Heading into the fourth quarter doesn't look much better for commodities, as estimates from Barclays Capital have prices dropping even more, according to a recent report, especially copper and aluminum, which are used heavily in building homes.
With the bottom falling out from the U.S. housing market after the tax break was ended, along with the Chinese battling property inflation in their urban areas, the demand for industrial commodities are under extreme pressure until those situations turn around, which they don't look likely to any time soon.
Gold will continue to be a strong performer, and silver will probably shine when measured against other industrial metals.
The worst of the industrial metals was zinc, which fell 25 percent for the quarter, its worst performance since the latter part of 2008. Nickel was much better, dropping 22 percent for the quarter, followed by lead, which was down 19 percent, copper declining 17 percent, and aluminum falling 15 percent.
Heading into the fourth quarter doesn't look much better for commodities, as estimates from Barclays Capital have prices dropping even more, according to a recent report, especially copper and aluminum, which are used heavily in building homes.
With the bottom falling out from the U.S. housing market after the tax break was ended, along with the Chinese battling property inflation in their urban areas, the demand for industrial commodities are under extreme pressure until those situations turn around, which they don't look likely to any time soon.
Gold will continue to be a strong performer, and silver will probably shine when measured against other industrial metals.
Monday, May 17, 2010
Commodity Prices Plunge Today
Commodity prices today are down significantly, as industrial metals led the plunge, as concerns over demand from Europe and China hinder the market.
Fighting the debt in Europe and inflation in China has optimism in commodities shake for the first time in awhile, and some companies and countries are concerned over how much the possible drop in demand will have an effect upon them.
Metals like copper, tin, zinc, lead and aluminum are all down, as traders and investors look at the near-term for the metals, and whether or not the recently expected commodity demand is sustainable over the mid-term.
This also seems to have affected the price of oil and gas, as the question now is whether or not consumers will travel and spend as much with this weighing on their minds.
Fighting the debt in Europe and inflation in China has optimism in commodities shake for the first time in awhile, and some companies and countries are concerned over how much the possible drop in demand will have an effect upon them.
Metals like copper, tin, zinc, lead and aluminum are all down, as traders and investors look at the near-term for the metals, and whether or not the recently expected commodity demand is sustainable over the mid-term.
This also seems to have affected the price of oil and gas, as the question now is whether or not consumers will travel and spend as much with this weighing on their minds.
Citigroup (NYSE:C) Says Weak Economic Data Putting Downward Pressure on Funds
Citigroup (NYSE:C) analyst David Thurtell said the ongoing crisis in Europe, along with weak economic data is putting downward pressure on funds.
That has also resulted in commodities getting hammered, as zinc, aluminum, tin, copper and lead all fell on the London Metal Exchange, as fears over major cutbacks in spending by Europe and China is affecting the commodity prices.
Lead went as low as 10 percent to $1,740, it's largest fall since July 2009, tin was down 2 percent to $17,200 a ton. For zinc, it fell 10 percent to $1,840 a metric ton, a 10 percent decline, the worst fall since September 2009. Aluminum also too a plunge, down to $1,983 a ton, a 5.6 percent drop.
Europe is a major consumer of metals, accounting for 15 to 25 percent of all consumption of zinc, aluminum, lead and nickel produced in the world, and 20 percent of all copper.
That has also resulted in commodities getting hammered, as zinc, aluminum, tin, copper and lead all fell on the London Metal Exchange, as fears over major cutbacks in spending by Europe and China is affecting the commodity prices.
Lead went as low as 10 percent to $1,740, it's largest fall since July 2009, tin was down 2 percent to $17,200 a ton. For zinc, it fell 10 percent to $1,840 a metric ton, a 10 percent decline, the worst fall since September 2009. Aluminum also too a plunge, down to $1,983 a ton, a 5.6 percent drop.
Europe is a major consumer of metals, accounting for 15 to 25 percent of all consumption of zinc, aluminum, lead and nickel produced in the world, and 20 percent of all copper.
Thursday, March 11, 2010
Hecla (NYSE: HL) Increased Reserves "Lucky Friday Mine"
Hecla Mining 'Lucky Friday Mine' Reserves
Hecla Mining (NYSE: HL) said recently that their "Lucky Friday Mine" has shown strong potential for the future for its reserves, as exploration on the mine continues.
Over the last year drilling at the mine has provided some promising results. Reserves could rise as high as 77 percent more than originally thought after the drilling results came in.
The 30 vein was particularly strong on reserves, with intercepts of 85 ounce a ton silver and 32.7 percent for lead and zinc together.
Hecla Mining 'Lucky Friday Mine' Reserves
Hecla Mining (NYSE: HL) said recently that their "Lucky Friday Mine" has shown strong potential for the future for its reserves, as exploration on the mine continues.
Over the last year drilling at the mine has provided some promising results. Reserves could rise as high as 77 percent more than originally thought after the drilling results came in.
The 30 vein was particularly strong on reserves, with intercepts of 85 ounce a ton silver and 32.7 percent for lead and zinc together.
Hecla Mining 'Lucky Friday Mine' Reserves
Wednesday, February 24, 2010
Silver Standard Resources (NASDAQ:SSRI) Silvertip Property
Silver Standard Resources (NASDAQ:SSRI) Silvercorp Metals (NYSE:SVM)
Silver Standard Resources (NASDAQ:SSRI) has sold its stake in its Silvertip property to Silvercorp Metals (NYSE: SVM) for C$15 million. The property includes silver, lead and zinc. The terms of the deal was half in common shares of the company and the other half in cash.
“The Silvertip project ranks among one of the highest grade silver-lead-zinc carbonate replacement deposits in North America — with great potential to grow,” said Rui Feng, Silvercorp chairman and chief executive.
The lead could be especially rewarding, as it had a concentrate grade of 65 percent and 80.4 percent was deemed as recoverable in a test a couple of years ago.
Another factor is lead for batteries continues to be in strong demand, while there are only about 7 lead mines in the world to provide it.
Silvercorp wil perform its own due diligence before the deal is officially completed in a couple of days.
Silver Standard Resources (NASDAQ:SSRI) Silvercorp Metals (NYSE:SVM)
Silver Standard Resources (NASDAQ:SSRI) has sold its stake in its Silvertip property to Silvercorp Metals (NYSE: SVM) for C$15 million. The property includes silver, lead and zinc. The terms of the deal was half in common shares of the company and the other half in cash.
“The Silvertip project ranks among one of the highest grade silver-lead-zinc carbonate replacement deposits in North America — with great potential to grow,” said Rui Feng, Silvercorp chairman and chief executive.
The lead could be especially rewarding, as it had a concentrate grade of 65 percent and 80.4 percent was deemed as recoverable in a test a couple of years ago.
Another factor is lead for batteries continues to be in strong demand, while there are only about 7 lead mines in the world to provide it.
Silvercorp wil perform its own due diligence before the deal is officially completed in a couple of days.
Silver Standard Resources (NASDAQ:SSRI) Silvercorp Metals (NYSE:SVM)
Monday, February 8, 2010
Freeport-McMoRan (NYSE:FCX) Settles with Blackwell
Freeport-McMoRan (NYSE:FCX)
City officials from Blackwell have accepted a settlement offer of $54 million from mining company Freeport-McMoRan (NYSE:FCX) for allegedly polluting the groundwater and soil around and in the city.
Sued by the city in Oklahoma was Freeport-McMoRan Cooper & Gold Inc., a subsidiary of Freeport-McMoRan.
The lawsuit stated the area had been contaminated with raw material such as lead, zinc, cadmium and arsenic as a consequence of the company mining the area from 1916 to 1974.
In accordance with Oklahoma Department of Environmental Quality requirements, Freeport-McMoRan will remediate the soil and groundwater affected by their operations.
Freeport-McMoRan (NYSE:FCX)
City officials from Blackwell have accepted a settlement offer of $54 million from mining company Freeport-McMoRan (NYSE:FCX) for allegedly polluting the groundwater and soil around and in the city.
Sued by the city in Oklahoma was Freeport-McMoRan Cooper & Gold Inc., a subsidiary of Freeport-McMoRan.
The lawsuit stated the area had been contaminated with raw material such as lead, zinc, cadmium and arsenic as a consequence of the company mining the area from 1916 to 1974.
In accordance with Oklahoma Department of Environmental Quality requirements, Freeport-McMoRan will remediate the soil and groundwater affected by their operations.
Freeport-McMoRan (NYSE:FCX)
Sunday, December 13, 2009
Commodities: East African Coffee, Tea
East African countries could be the strong beneficiaries of commodities like coffee and tea, which are enjoying a surge in prices as commodities as an overall class increase in price too.
Other commodities set to help the East African region are gold and other base metals such as copper, lead and zinc, as Europe, China and India buys up its raw materials and agricultural products.
Some of this has come from stimulus programs devised to work on the infrastructure of these countries, which of course generates strong demand for precious metals and other raw materials.
Because tea and coffee is a major part of all the economies of the East Africa region, it is expected that they, more than the other commodities, will be the most beneficial to them at this time.
Demand from emerging markets also guarantee commodity demand and prices over the next couple of years will help countries like Tanzania, Uganda and Kenya.
Other commodities set to help the East African region are gold and other base metals such as copper, lead and zinc, as Europe, China and India buys up its raw materials and agricultural products.
Some of this has come from stimulus programs devised to work on the infrastructure of these countries, which of course generates strong demand for precious metals and other raw materials.
Because tea and coffee is a major part of all the economies of the East Africa region, it is expected that they, more than the other commodities, will be the most beneficial to them at this time.
Demand from emerging markets also guarantee commodity demand and prices over the next couple of years will help countries like Tanzania, Uganda and Kenya.
Monday, November 3, 2008
Aura Silver Reports High Grade Copper, Zinc and Precious Metal Samples from Greyhound Lake Project
OTTAWA, ONTARIO, Nov 03, 2008 (MARKET WIRE via COMTEX) -- Aura Silver Resources Inc. ("Aura Silver") (CA:AUU: news, chart, profile) is pleased to announce results of a field program undertaken in August on the Greyhound Lake project in Nunavut. Samples collected during the field work contained up to 4.1% copper (Cu), 13.4% zinc (Zn), 8% lead (Pb), 2800 grams per tonne (g/t) silver (Ag) and 28g/t gold (Au). The mineralization occurs in a variety of geologic settings.
The Greyhound property comprises approximately 23,000 hectares in 25 mineral claims and is 100% owned by Aura Silver. It is located about 40 kilometres north of the community of Baker Lake and 30 kilometres south of Agnico-Eagle's Meadowbank Gold Mine which contains a probable gold reserve of 3.5 million ounces at an average grade of 3.7 grams per tonne ( www.agnico-eagle.com). The all-weather road to Meadowbank passes through the western part of the Greyhound property.
The Greyhound area has long been known to host highly anomalous metal values. As previously reported by Aura Silver, two samples collected in 1998 contained 1,632 and 3,400 g/t silver. In 2006, Aura Silver acquired mineral claims to cover the area of these high values and completed an airborne EM and magnetic survey. In 2007, prospecting and mapping of the claims resulted in the discovery of volcanogenic massive sulphide (VMS) style mineralization along an exhalite horizon with samples containing 2.4% Zn, 8.2% Pb, 1.0% Cu, 10g/t Au, and 51g/t Ag.
During June 2008, an additional airborne EM and magnetic survey was completed. Based on the results of this survey and the prospecting results from 2007, Aura's geological team completed a further investigation of the property. This work focused on prospecting the exhalite zone for base and precious metals and evaluating the potential of the area using lithogeochemical analyses. Fifty five (55) assay samples and 146 lithogeochemical samples were submitted to the Yellowknife laboratory of ALS Chemex to determine the extent and intensity of base and precious metal enrichment (assay) and footwall alteration (lithogeochemical). The results of the assays are summarized in Tables 1 and 2.
Several mineralized zones have been found (see map, Figure 1, available at the following address: http://media3.marketwire.com/docs/aura_map_1103.pdf); three occur within an area of 6.6 square kilometres. The first, discovered in 2007, consists of frost-heaved slabs up to several metres in width along the eastern shore of Aura Lake. These contain zinc, lead and silver-bearing sulfides in siliceous exhalite (Table 2). The second is at the southeast corner of Aura Lake and comprises dozens of sub-cropping slabs of arsenopyrite-bearing felsic volcanic rock that are enriched in gold and base metals (Table 2, available at the following address: http://media3.marketwire.com/docs/aura_table2_1103.pdf). The third occurs to the northeast of Aura Lake, and is a 20 metre long train of frost-heaved angular massive sulfide boulders consisting of sphalerite, chalcopyrite and pyrite in altered felsic volcanic rocks. All three discoveries are of locally transported material, consisting of numerous fragments, each up to 0.5 metres wide. Their angularity is indicative that they were transported only a short distance. The area surrounding and under Aura Lake is deemed highly prospective.
The overall metal tenor of these three occurrences is typical of a high-temperature VMS system, similar to those observed in the Sturgeon Lake and Manitouwadge districts, Ontario. The upper part of the system (west Aura Lake) is silver, zinc and lead-rich; the lower part is copper and zinc-rich. The highly anomalous gold near the southeast corner of Aura Lake, as well as the north-central gold occurrence, is strongly correlated with arsenopyrite, similar to the Meadowbank gold system. Overall, the area may have some similarity to the Malartic, Quebec, camp, where a VMS system appears to have been overprinted by a slightly later orogenic or magmatic gold system.
The other occurrences are mainly to the north, and are both VMS and orogenic gold in style. These indicate that both mineralizing processes were operative throughout the greenstone belt.
Robert Boaz, President and CEO of Aura Silver said, "These results are exciting for us. Greyhound contains many elements of a classic, but relatively unexplored, volcanogenic massive sulfide (VMS) district and now also appears to have good potential for orogenic gold deposits."
The next phase of exploration will include ground geophysical surveys in the Aura Lake area, followed by diamond drilling. These are planned for the spring and summer of 2009. All of the anomalous areas discovered in 2008 will be further prospected.
-----------------------------------------------------------------------
---
Percentile Au g/t Ag g/t Cu % Pb % Zn %
--------------------------------------------------------------------------
50.00% 0.01 0.6 .006 .002 .010
--------------------------------------------------------------------------
60.00% 0.02 0.8 .008 .003 .016
--------------------------------------------------------------------------
70.00% 0.05 2.0 .014 .008 .022
--------------------------------------------------------------------------
75.00% 0.10 3.7 .030 .012 .036
--------------------------------------------------------------------------
80.00% 0.12 7.0 .040 .026 .057
--------------------------------------------------------------------------
90.00% 0.47 64.3 .094 .089 3.010
--------------------------------------------------------------------------
95.00% 2.41 345.8 .621 .122 10.573
--------------------------------------------------------------------------
99.00% 27.62 2595.4 4.008 .848 13.383
--------------------------------------------------------------------------
Maximum 28.80 2700.0 4.080 .869 13.400
--------------------------------------------------------------------------
Table 1: Summary of the entire 55 assay samples in the Greyhound area,
2008 sampling. Assay data are from ALS Chemex, using their ME-MS61 (4 acid
dissolution) method.
Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person (as defined by National Instrument 43-101) and has reviewed and approved the scientific and technical information in this press release.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in North America with a focus on silver. The Company has 38,208,902 common shares outstanding.
FORWARD LOOKING STATEMENTS
This Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this press release.
Contacts:
Aura Silver Resources Inc.
Robert Boaz, President and CEO
905-403-8010
boaz@aurasilver.com
www.aurasilver.com
SOURCE: Aura Silver Resources Inc.
mailto:boaz@aurasilver.com
http://www.aurasilver.com
Copyright 2008 Market Wire, All rights reserved.
The Greyhound property comprises approximately 23,000 hectares in 25 mineral claims and is 100% owned by Aura Silver. It is located about 40 kilometres north of the community of Baker Lake and 30 kilometres south of Agnico-Eagle's Meadowbank Gold Mine which contains a probable gold reserve of 3.5 million ounces at an average grade of 3.7 grams per tonne ( www.agnico-eagle.com). The all-weather road to Meadowbank passes through the western part of the Greyhound property.
The Greyhound area has long been known to host highly anomalous metal values. As previously reported by Aura Silver, two samples collected in 1998 contained 1,632 and 3,400 g/t silver. In 2006, Aura Silver acquired mineral claims to cover the area of these high values and completed an airborne EM and magnetic survey. In 2007, prospecting and mapping of the claims resulted in the discovery of volcanogenic massive sulphide (VMS) style mineralization along an exhalite horizon with samples containing 2.4% Zn, 8.2% Pb, 1.0% Cu, 10g/t Au, and 51g/t Ag.
During June 2008, an additional airborne EM and magnetic survey was completed. Based on the results of this survey and the prospecting results from 2007, Aura's geological team completed a further investigation of the property. This work focused on prospecting the exhalite zone for base and precious metals and evaluating the potential of the area using lithogeochemical analyses. Fifty five (55) assay samples and 146 lithogeochemical samples were submitted to the Yellowknife laboratory of ALS Chemex to determine the extent and intensity of base and precious metal enrichment (assay) and footwall alteration (lithogeochemical). The results of the assays are summarized in Tables 1 and 2.
Several mineralized zones have been found (see map, Figure 1, available at the following address: http://media3.marketwire.com/docs/aura_map_1103.pdf); three occur within an area of 6.6 square kilometres. The first, discovered in 2007, consists of frost-heaved slabs up to several metres in width along the eastern shore of Aura Lake. These contain zinc, lead and silver-bearing sulfides in siliceous exhalite (Table 2). The second is at the southeast corner of Aura Lake and comprises dozens of sub-cropping slabs of arsenopyrite-bearing felsic volcanic rock that are enriched in gold and base metals (Table 2, available at the following address: http://media3.marketwire.com/docs/aura_table2_1103.pdf). The third occurs to the northeast of Aura Lake, and is a 20 metre long train of frost-heaved angular massive sulfide boulders consisting of sphalerite, chalcopyrite and pyrite in altered felsic volcanic rocks. All three discoveries are of locally transported material, consisting of numerous fragments, each up to 0.5 metres wide. Their angularity is indicative that they were transported only a short distance. The area surrounding and under Aura Lake is deemed highly prospective.
The overall metal tenor of these three occurrences is typical of a high-temperature VMS system, similar to those observed in the Sturgeon Lake and Manitouwadge districts, Ontario. The upper part of the system (west Aura Lake) is silver, zinc and lead-rich; the lower part is copper and zinc-rich. The highly anomalous gold near the southeast corner of Aura Lake, as well as the north-central gold occurrence, is strongly correlated with arsenopyrite, similar to the Meadowbank gold system. Overall, the area may have some similarity to the Malartic, Quebec, camp, where a VMS system appears to have been overprinted by a slightly later orogenic or magmatic gold system.
The other occurrences are mainly to the north, and are both VMS and orogenic gold in style. These indicate that both mineralizing processes were operative throughout the greenstone belt.
Robert Boaz, President and CEO of Aura Silver said, "These results are exciting for us. Greyhound contains many elements of a classic, but relatively unexplored, volcanogenic massive sulfide (VMS) district and now also appears to have good potential for orogenic gold deposits."
The next phase of exploration will include ground geophysical surveys in the Aura Lake area, followed by diamond drilling. These are planned for the spring and summer of 2009. All of the anomalous areas discovered in 2008 will be further prospected.
-----------------------------------------------------------------------
---
Percentile Au g/t Ag g/t Cu % Pb % Zn %
--------------------------------------------------------------------------
50.00% 0.01 0.6 .006 .002 .010
--------------------------------------------------------------------------
60.00% 0.02 0.8 .008 .003 .016
--------------------------------------------------------------------------
70.00% 0.05 2.0 .014 .008 .022
--------------------------------------------------------------------------
75.00% 0.10 3.7 .030 .012 .036
--------------------------------------------------------------------------
80.00% 0.12 7.0 .040 .026 .057
--------------------------------------------------------------------------
90.00% 0.47 64.3 .094 .089 3.010
--------------------------------------------------------------------------
95.00% 2.41 345.8 .621 .122 10.573
--------------------------------------------------------------------------
99.00% 27.62 2595.4 4.008 .848 13.383
--------------------------------------------------------------------------
Maximum 28.80 2700.0 4.080 .869 13.400
--------------------------------------------------------------------------
Table 1: Summary of the entire 55 assay samples in the Greyhound area,
2008 sampling. Assay data are from ALS Chemex, using their ME-MS61 (4 acid
dissolution) method.
Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person (as defined by National Instrument 43-101) and has reviewed and approved the scientific and technical information in this press release.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in North America with a focus on silver. The Company has 38,208,902 common shares outstanding.
FORWARD LOOKING STATEMENTS
This Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this press release.
Contacts:
Aura Silver Resources Inc.
Robert Boaz, President and CEO
905-403-8010
boaz@aurasilver.com
www.aurasilver.com
SOURCE: Aura Silver Resources Inc.
mailto:boaz@aurasilver.com
http://www.aurasilver.com
Copyright 2008 Market Wire, All rights reserved.
Tuesday, March 4, 2008
Investors take Profits on Base Metals
Base metals dropped today on the London Metal Exchange, as investors took profits, with the majority of the commodity markets participating in a sell-off.
A number of metals ended up at close to the record range before cutting back later in the session.
“Supply disruptions made the fundamentals for some metals (gold, platinum, aluminium and zinc) look much better, which combined with the poor equity, property market and corporate paper market, convinced funds to go into commodities,” said BNP Paribas analyst David Thurtell.
Tin reached a new high before dropping again, reaching $19,375 a ton before fears on what Indonesia's response in battling against illegal tin mining would affect the metal. It ended the day at $19,050, an increase of $100 over what it closed at yesterday.
With most of the world's tin exports coming out of Indonesia, MF Global analyst Edward Meir said, “Tin's fundamentals look solid to us.
“The bulk of the world's tin exports come from Indonesia, and so the complex has a good chunk of its eggs in only one basket.”
Most dealers believe the sell-off was long overdue, and a correction was needed. They also said that this will be a short-term event, and prices should continue on an upward climb. Even so, with many turning to commodities as an inflation hedge, some are starting to think some metals are reaching a potential bubble, and will have to be watched carefully.
Most say we can't overly react and read into the cutback, as metals overall should be strong for some time.
Some metals shedding some of their weight were nickel, which dropped by $405, to finish at $32,845; aluminum decreased by $23, to end at $3115 a ton; lead fell by $70 to come in at $3365 a ton; and zinc declined by $45 to finish the session at $2780.
A number of metals ended up at close to the record range before cutting back later in the session.
“Supply disruptions made the fundamentals for some metals (gold, platinum, aluminium and zinc) look much better, which combined with the poor equity, property market and corporate paper market, convinced funds to go into commodities,” said BNP Paribas analyst David Thurtell.
Tin reached a new high before dropping again, reaching $19,375 a ton before fears on what Indonesia's response in battling against illegal tin mining would affect the metal. It ended the day at $19,050, an increase of $100 over what it closed at yesterday.
With most of the world's tin exports coming out of Indonesia, MF Global analyst Edward Meir said, “Tin's fundamentals look solid to us.
“The bulk of the world's tin exports come from Indonesia, and so the complex has a good chunk of its eggs in only one basket.”
Most dealers believe the sell-off was long overdue, and a correction was needed. They also said that this will be a short-term event, and prices should continue on an upward climb. Even so, with many turning to commodities as an inflation hedge, some are starting to think some metals are reaching a potential bubble, and will have to be watched carefully.
Most say we can't overly react and read into the cutback, as metals overall should be strong for some time.
Some metals shedding some of their weight were nickel, which dropped by $405, to finish at $32,845; aluminum decreased by $23, to end at $3115 a ton; lead fell by $70 to come in at $3365 a ton; and zinc declined by $45 to finish the session at $2780.
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/gfms.gif) |
Monday, March 3, 2008
Arian Silver Corp. Mineral Resource Estimate for San Jose Property
A press release from the Arian Silver Corp. concerning the San Jose property in Zacatecas State, Mexico, offers the initial resource estimates.
According to the estimates, there are approximately 27.7 million ounces of silver, 64.6 million pounds of lead and 147.5 million pounds of zinc.
The estimates, according to the company comes "from 31 holes drilled to an aggregate length of 4,500 metres (m) and is contained within four currently defined resource blocks along 4 km of the strike of the San Jose Vein (SJV). These blocks currently cover an aggregate strike length of some 1,600 m within the 4 km strike length and extend to a depth of 200 m. The percentage of oxide, transitional and primary material is undefined as part of these preliminary "inferred" estimations."
You can find the plan which shows where the resources are in relationship to the strike here.
The estimate is only in relationship to about 30 percent of the length of the known strike which Arian controls.
Arian's Chief Executive Officer, Jim Williams, said in a statement, "We are very pleased with these initial compliant resources we have so far estimated at San Jose. These resource estimates are only based on approximately 50% of the drill-holes that we have currently drilled at San Jose and therefore only cover a portion within a strike length along the main SJV of some 4 km (out of 12 plus km). We believe we can expand these resources significantly during 2008."
Subscribe to:
Posts (Atom)