Archive for category Corporate Updates

Underworld Returns Excellent Gold Recoveries at White Gold Property

Posted by Admin in Corporate Updates, News Releases on January 5, 2010

Underworld’s Optimized Metallurgical Testwork Returns Excellent Gold Recoveries at White Gold Property.

Underworld Resources Inc. has released the results of a comprehensive metallurgical testing program on samples from the Golden Saddle and Arc deposits, at the 100-per-cent-owned White Gold property, Yukon.

Recovery ranged from 78 per cent to 97 per cent at the Golden Saddle zone and the comprehensive metallurgical testing indicate that 92 per cent or better gold recovery can be expected with a conventional plant at Golden Saddle.

Five 72-hr bottle-roll cyanidation tests were carried out on the samples which assessed gold recoveries based on variable grind sizes and cyanidation intensity. CIL cyanidation boosted gold recoveries up to 98%. Gravity recovery tests showed that from 6% to 9% of contained gold could report to a gravity concentrator prior to cyanidation. Near-surface oxidized material returned 94% gold recovery. Surface oxidation due to weathering at Golden Saddle ranges from 10 to 40 meters, averaging about 20 meters below surface. Local partial oxidation occurs near post-mineralization fault zones. The majority of mineralization encountered to-date at Golden Saddle is unoxidized.

Test work included several conventional processing options including: gravity gold recovery, bottle-roll cyanidation, carbon in leach (CIL) cyanidation and flotation. The impact of grind size on cyanidation tests was also investigated. Test work for the Golden Saddle Deposit was completed on core samples exhibiting different mineralization styles, including: oxide, sulfide, mixed oxide-sulfide material, as well as a low grade composite sample. Testing was also completed on a composite sample from the Arc deposit, located one kilometer south of Golden Saddle.

At the Arc zone, a 72-hr bottle roll and CIL cyanidation tests on a composite sample suggest gold recoveries ranging from 28% to 37%, however, floatation tests boost gold recoveries to 86%. Cyanidation at the Arc zone is impacted by graphite, which is not present at the Golden Saddle Zone.
The metallurgical test work was completed by Inspectorate PRA Labs of Vancouver, B.C. Bottle roll cyanide leach tests were performed for a target grind size of 80% passing 105 microns in 1 g/L NaCN.

The contrasting mineralogy and gold recoveries at Golden Saddle and Arc are due to varying host rock lithologies. Golden Saddle occurs within metavolcanic and metaintrusive rocks, with gold mineralization associated with pyrite veining, silicification, quartz breccias and stockworks, whereas the Arc Deposit is hosted by metasedimentary rocks, and is typified by hydrothermal breccias and silicification.

Underworld is currently working on an NI-43-101 compliant initial resource estimate for the White Gold Property, results of which are expected within the next month.

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Pacific Ridge Provides Update Klondike Kate

Posted by Admin in Corporate Updates, News Releases on December 7, 2009

Pacific Ridge Exploration Ltd. has completed the 2009 exploration programs on four properties located in the Yukon’s Southern Klondike region. The Pacific Ridge program has successfully outlined the presence of Underworld Resources Inc.’s White Gold property-style mineralization as indicated by anomalous geochemical signatures on the Goldcap, Polar-Stewart and Mariposa properties. The Goldcap and Polar-Stewart properties are adjacent to the northeast boundaries of Underworld’s White Gold discovery claims. Geochemical anomalies on the Eureka property, located in the northeast region of the Klondike region, indicate an epithermal-style alteration system with anomalous gold values.

Geochemical soil sampling has been the primary exploration tool for the recent discovery of gold mineralization in the South Klondike-Underworld camp.

Gold Cap and Polar-Stewart properties

Pacific Ridge established a two-kilometre-by-four-kilometre soil sampling grid within the source area of an historic, highly anomalous gold-in-silt anomaly. This season’s work has defined three sub-parallel, northerly trending, arsenic-antimony-nickel-gold soil anomalies measuring two to four km in length and open for expansion to the north. The linear nature of the anomalous soils suggests the presence of structurally controlled mineralization. Geochemical values for arsenic range from 20 to 200 parts per million, nickel from 75 to 1,200 ppm, antimony from one to four ppm and gold from 12 to 290 parts per billion.

The geochemical anomalies are within one to two km of Underworld’s eastern claims boundary and appear to be building in intensity toward the northern limits of the presently established soil sampling grid. Early next season, additional soil sampling will be required within a proposed three-kilometre, northerly extension to the existing grid.

Mariposa property

Located approximately 50 km east of and within a similar geological setting to the White Gold discovery, the Mariposa property was acquired by Pacific Ridge as previously reported in Stockwatch on Sept. 23, 2009.

Although late-season field work was terminated by winter conditions, Pacific Ridge completed a reconnaissance soil geochemical program on the Mariposa property that confirmed the presence of an open-ended, two-kilometre-long gold soil anomaly overlying an altered schist host unit and nearby intrusive rocks. All geochemical and geological data are being compiled.

Results to date confirm trends of the previously established gold exploration targets along with opportunity for expansion.

Eureka property

Located approximately 55 km north of White Gold and immediately adjacent to the east of claims owned by Strategic Metals Ltd., the company performed preliminary exploration work at Eureka this past season.

Initial, property-wide rock sampling at Eureka has identified an area measuring approximately one by two km of alteration, along with an epithermal gold signature comprising anomalous values for arsenic, mercury, barium, antimony and gold. Results warrant establishment of a geochemical soil grid to better define the potential source area of gold mineralization.

Pacific Ridge’s 2009 exploration programs have been successful in defining the presence of gold targets on its Klondike Kate properties. Expanded geochemical surveys are now warranted, followed by mechanical trenching to define in-rock gold values prior to drilling campaigns proposed for 2010. Final exploration data compilation is still in progress and will be presented for viewing in January, on the company’s website.

Pacific Ridge’s disclosure of a technical or scientific nature has been reviewed by Wayne J. Roberts, PGeo, vice-president of exploration and a qualified person under the definition of National Instrument 43-101.

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Kaminak Identifies New “Granite-Hosted” Style of Gold Mineralization on the Coffee Property: Additional 284 Claims Staked to Cover Priority Targets

Posted by Admin in Corporate Updates, Field Work, News Releases on November 23, 2009

Kaminak Gold is pleased to announce final 2009 assays from the Company’s 100% owned Coffee Property. Results reported here are from the Kona and Espresso Zones and are in addition to high-grade trench results previously released from the Supremo and Latte Zones. Gold mineralization at the Kona and Espresso Zones is hosted by Cretaceous-aged granite, representing a new host rock to mineralization in the White Gold District. Until now, mineralization in the White Gold District was thought to be hosted entirely by much older Paleozoic gneissic and schistose rocks. Based on this work, Kaminak has acquired by staking additional Cretaceous granite hosted targets within the district.

Key Results:

  • Kona trend grab samples yield up to 3.9 g/t Au within newly recognized host rock (Cretaceous-aged Coffee Creek granite)
  • New staking adds 284 claims (5,500 hectares) covering high-priority targets. Coffee property now totals 993 claims (19,900 hectares)
  • Espresso trend extended and remains open: soil values up to 1.04 g/t Au

“Our 2009 exploration program successfully defined four significant gold trends on the Coffee property over a total length of 11km,” stated Rob Carpenter, President and CEO of Kaminak. “We have only covered approximately 20% of the property with soil sampling and anticipate completing a significant soil sampling and trenching program next year in addition to diamond drilling “.

Kona Trend

The Kona Trend, 5km west of the high-grade Supremo Zone, comprises a northeast trending >50 ppb Au soil anomaly traceable for over 1,500m along strike and up to 500m wide. Updated maps are now available on the Company website at www.kaminak.com. A series of anomalous grab samples were obtained along the southern margin of the target, ranging from 0.19 g/t Au to 3.92 g/t Au. The area has not been trenched since results were received subsequent to the field season.

Geological mapping has confirmed that the mineralization is hosted by the Coffee Creek granite, which is inferred to be Cretaceous in age, representing a new host to gold mineralization in the White Gold District. Kaminak has staked an additional 284 claims covering the known extent of the Coffee Creek granite.

Espresso Trend

The Espresso target, 1km west of the Kona trend, was identified late in the summer of 2009 and constitutes a broadly northeast trending > 25 ppb Au soil anomaly traceable for 1200 meters by 750 meters that is open to the west. The 2010 program will target the western portion of the soil anomaly, not trenched in 2009, containing two soil values of 1.04 g/t Au and 0.72 g/t Au.

Anomalous gold values on the Coffee property are associated with heavily bleached and weathered rock comprised primarily of sericite and quartz. The host rock is heavily altered; however, a progression from fresh rock can be observed within the trenches. There also seems to be a correlation between high gold values and several pathfinder elements, including arsenic (As) and antimony (Sb). Overall, gold values for 100 total rock samples reported here ranged from below detection level to a high of 3.9 g/t Au. Trench sampling consisted of continuous chip samples over 5m intervals of oxidized and weathered rubble sub-crop that is interpreted as being near in-place.

QA / QC

Kaminak’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Rob Carpenter, Ph.D., P.Geo., Kaminak’s President and CEO, who serves as a Qualified Person under the definition of National Instrument 43-101. Rock samples were shipped to Acme Laboratories of Vancouver, B.C. for analyses. Certified reference materials are inserted into the batch and results were verified by a British Columbia Certified Assayer. The Coffee property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

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Network Exploration Completes Airborne Survey on Yukon Property

Posted by Admin in Corporate Updates, News Releases on November 12, 2009

Network Exploration Ltd. has completed an airborne geophysical survey of its 25 quartz mineral claims in the Yukon territory.

A low-level, multisensor airborne geophysical survey over the company’s Yukon property collected data from magnetic and radiometric instruments using a Bell 206 BIII helicopter equipped with a cesium vapour magnetometer sensor in a nose stringer (with sensitivity better than 0.01 nanoTesla with compensation) and 8.4 litres of of NaI gamma radiation detection crystals.

Precision GeoSurveys Inc. of Vancouver, B.C., was contracted to perform this survey which is designed to assist in the interpretation of bedrock units, structure and alteration. Survey lines were flown over the approximate 522-hectare property on an east-west orientation (as the regional trend is northwest-southeast) with 100-metre spacing and 1,000-metre spacing for tie lines.

Interpretation of results will be released when available.

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Kaminak Announces Trench Results, Plans for Drilling

Posted by Admin in Corporate Updates, Field Work, News Releases on October 27, 2009

Kaminak Gold Corp. has released new chip sample/trenching results from the Supremo gold-in-soil anomaly on the company’s 100-per-cent-owned Coffee property. Additional trench results from the Latte, Kona and Espresso gold-in-soil anomalies will be available in the coming weeks. Management has also approved plans for a minimum 5,000-metre phase one diamond drill program scheduled to begin in the spring/summer of 2010. This will be the first-ever drill program on the Coffee property and can be financed through Kaminak’s existing treasury.

Supremo trench results

Results are presented here from follow-up crosscut trenching that was completed near trench No. 3 where a previous result of 2.3 grams per tonne gold over 21 metres was obtained. This earlier result was from an east-west-trending shallow trench. Two new north-south-trending trenches six metres apart from one another were dug directly on top of the original east-west trench in hopes of expanding the known extent of the mineralization. Results include 11.72 grams per tonne gold over 10 metres from one trench and 8.56 grams per tonne gold over 15 metres from the other trench. Both of these high-grade results begin right next to the original trench and extend northerly.

The significance of these results is simplified on a sketch map available on the company website. The true width or extent of this zone is not fully known partially due to the oxidized and rubbly nature of the trench material, but it appears to have a roughly east-to-northeast trend. These new data have identified high-grade gold in rock as well as successfully extending the known area of mineralization in the trench No. 3 area.

A separate interval of 1.76 grams per tonne gold over 25 metres was uncovered from trench No. 2, approximately 100 metres from trench No. 3. The relationship between these occurrences is being investigated; however, initial observations suggest they are separate geological targets possibly hosted by a series of stacked structurally controlled zones.

These represent the final assays from the 2009 trenching program at the Supremo target. This program successfully identified several drill targets in addition to the results discussed in this release from trenches No. 2 and No. 3. Other notable targets include trench No. 6 (11.45 grams per tonne gold over five metres), trench No. 8 (1.37 grams per tonne gold over 30 metres) and trench No. 4 (0.53 gram per tonne gold over 45 metres). Additional trench results are pending from the Latte, Espresso and Kona targets and will be released in the coming weeks. Phase one drilling in 2010 will focus on evaluating priority targets from across the property and will be designed to test shallow, near-surface targets.

Anomalous gold values in the Supremo region are associated with heavily bleached and weathered rock comprising primarily sericite and quartz. This host rock is heavily altered; however, a progression from fresh felsic gneiss can be observed within the trenches. There also seems to be a correlation between high gold values and several pathfinder elements, including arsenic (As) and antimony (Sb). Over all, gold values for 25 total samples reported here ranged from below detection level to a high of 13.79 grams per tonne gold. Sampling consisted of continuous chip samples over five-metre intervals of oxidized and weathered rubble subcrop that is interpreted as being near in place.

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Hinterland Updates on Ballarat

Posted by Admin in Corporate Updates, News Releases on October 5, 2009

Hinterland Metals Inc.’s soil geochemical and airborne geophysical surveys are now complete on the Ballarat property and preliminary interpretation of the results is encouraging. The exploration target at Ballarat is gold mineralization associated with soil geochemical and magnetic anomalies similar to Underworld’s white gold discovery located approximately 15 kilometres due north.

The soil survey has identified two parallel, northeast-trending, linear gold anomalies in the northwestern corner of the property. Each anomaly is roughly two kilometres long. The northern anomaly is better defined, more continuous and averages 100 to 150 metres wide. The second anomaly, located about 200 metres southeast of the first, is less definite, irregular and generally less than 50 metres wide. The anomalous gold area corresponds to a magnetic low that occurs on the northwestern margin of a circular magnetic high that covers most of the Ballarat property. The preliminary interpretation of the soil geochemical and magnetic data is that there is a sharp lithological contact between relatively gold-enriched rocks to the northwest with relatively gold-depleted rocks to the southeast. An exploration crew recently spent several days on the Ballarat property and located four quartz veins in the anomalous gold area.

The soil geochemical survey involved the collection and analysis of 1,478 B Horizon soils. The analytical work was completed at Acme Analytical Laboratories Ltd., in Vancouver, B.C. Samples were dried and sieved to minus-80-mesh size and analyzed for 36 elements (including gold) by 15-gram aqua regia digestion, ICP-MS finish technique. Acme is accredited under ISO 9001.

The multisensor geophysical survey airborne geophysical survey was completed by Precision Geosurveys Inc., of Vancouver, B.C., with a helicopter flying grid lines at 100-metre line spacing. A total of 300 line kilometers of data was collected. A high-resolution magnetometer system was used to assist in interpreting bedrock units, structure and alteration. A radiometric system consisting of a multichannel spectrometer with state-of-the-art design and large gamma-ray-sensing crystals was used to map lithologies and alteration.

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Underworld’s Metallurgical Tests Show Excellent Results

Posted by Admin in Corporate Updates, News Releases on September 30, 2009

Underworld Resources Inc. has received non-optimized initial metallurgical testwork from the Golden Saddle and Arc gold deposits, at the White Gold property. These results returned excellent gold recoveries from the Golden Saddle zone.

At the Golden Saddle zone, a total of 23 samples from six 2008 drill holes averaging 6.60 grams per tonne (g/t) gold were analyzed by bottle roll cyanide leach methodology. All samples returned an average 85.5-per-cent recovery, ranging from 65.7 to 93.7 per cent. Samples included near-surface oxidized material, partially oxidized, and unoxidized material. Unoxidized and partially oxidized mineralization returned higher recoveries, averaging 87.7 per cent, with oxidized mineralization averaging 73.6 per cent. Additionally, higher-grade individual samples, over 10 g/t gold, typically displayed slightly lower recoveries averaging 83.7 per cent. This is potentially due to reduced leaching with coarse gold, which could possibly be amenable to gravity separation to boost recoveries.

Surface oxidation due to weathering at Golden Saddle ranges from 10 to 40 metres, averaging about 20 metres below surface. Local partial oxidation occurs near postmineralization fault zones. The majority of mineralization encountered to-date at Golden Saddle is unoxidized.

At the Arc zone, a total of 17 samples from two 2009 drill holes averaging 2.05 g/t gold were analyzed from the two styles of mineralization: graphite poor (WD09-39) and graphite rich (WD09-37). All samples averaged 51.2-per-cent recovery, however, gold mineralization without graphite averaged 81.7-per-cent recovery. The presence of preg-robbing graphite resulted in poor recovery, averaging 4.6 per cent. Graphite often occurs within sediment-hosted gold deposits, and can be removed using various metallurgical processes.

The Golden Saddle deposit is located 1,000 metres north of the Arc Deposit. The two deposits display different styles of gold mineralization, geochemistry and host rocks. Golden Saddle occurs within metavolcanic and intrusive rocks, with gold mineralization associated with pyrite veining, silicification, quartz breccias and stockworks, whereas the Arc Deposit is hosted with metasedimentary rocks, and is typified by hydrothermal breccias and silicification.

The different styles of mineralization and gold recoveries at Golden Saddle and Arc are due to varying host rock lithologies. The principal host rock at Golden Saddle was a granitoid that has been metamorphosed to an augen gneiss. Arc mineralisation is hosted by sediments which now outcrop as quartzite.

Underworld has initiated an optimized metallurgical testing program with Inspectorate PRA Metallurgical Division of Richmond BC, with results expected during the latter part 2009. Samples from the multiple styles of mineralization at the White Gold Property will be analyzed for cyanide leach, gravity recovery and Bond Work Index. Optimization studies such as gravity recovery have the potential to boost overall metallurgical recoveries.
Underworld is currently awaiting assay results from an additional 32 holes at the White Gold Project. At Golden Saddle, Mineralization remains open to expansion along strike to the northeast and at depth.

Quality Assurance

Underworld has implemented a rigorous QA/QC program at the White Gold Property using best industry practice. Elements of the program include: chain of custody of samples, insertion of standard and blank samples, and check assays. Drill core is sawn in half and shipped in sealed bags to ALS Chemex Laboratories in Vancouver, B.C. Check assays are being undertaken by Acme Laboratories, Vancouver. Bottle Roll cyanide-leach analysis from the 2008 samples were performed by Alaska Assay Labs in Fairbanks, AK, and for 2009 samples by ALS Chemex Laboratories in Vancouver, B.C.

The ongoing 2009 Exploration Program is directed by Adrian Fleming, M.A.I.G, RPGeo, M.Aus.I.M.M., President of Underworld Resources and a Qualified Person as defined by NI 43-101. Mr. Fleming prepared, and approves of the content of this release.

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Stina Completes Work Program, Awaiting Results

Posted by Admin in Corporate Updates, Field Work, News Releases on September 15, 2009

Stina Resources  is pleased to announce that it has completed a work program on the Kodiak property in the Dawson Mining District of the Yukon Territory. The Kodiak property claim block consists of 152 claims covering 30 square kilometres or 6400 acres and ties on to the southern side of Underworld White Gold Property. The Kodiak claim block also straddles Thistle creek which was the richest placer gold-producing creek in the area given up more than 63,000 ounces of placer gold since the turn of the century.

The recently completed work program consisted of 1,800 soil samples collected from the upland areas surrounding the silt anomalies.

of Ryanwood Exploration Inc (REI) was the vendor for the Kodiak property as well as for Underworld’s White Property and re-evaluated the Geological Survey of Canada database for similar positive indicators for white-style mineralization on the Kodiak property. The GSC silt survey of the Thistle area identified anomalous gold and arsenic levels in silt samples collected from streams that drain Kodiak Property. The presence of elevated gold and arsenic values suggests potential for mineralization similar to that identified by Underworld Resources.

Considering that Underworld and other junior mining companies operating in the White District have had considerable success using soil geochemical surveys to pinpoint areas of gold mineralization management is optimistic the initial program will identify targets that warrant follow up work. In the event that targets are defined, the Kodiak Property could easily be fast tracked because there is an access road and airstrip along Thistle Creek.

The Company entered into an option agreement with Ryanwood Exploration Inc. (“REI”) for a 100% interest in the Kodiak property on July 8, 2009.

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Northern Tiger Completes Geophysical Program and Drilling

Posted by Admin in Corporate Updates, News Releases on September 9, 2009

Northern Tiger Resources Inc. has completed the expanded 2009 drill program at its Sonora Gulch gold-silver-copper property. In addition, a 1,437 line-kilometre airborne geophysical survey was completed over most of the Company’s Dawson Range properties, and ground magnetic and Induced Polarization (IP) surveys were completed over a potential Minto-style target on the Company’s DAD property.

Northern Tiger drilled 12 diamond drill holes totalling 2,455 metres during the 2009 exploration season. The program focused on the Nightmusic Zone, where 2008 drilling returned a 26.6 metre intercept grading 4.96 g/t gold, 11.9 g/t silver and 0.23% copper (see News Release dated October 28, 2008). The Company’s drilling contractor, Kluane Drilling Ltd., completed 11 of the drill holes to an average depth of 216 metres, while one of the holes was abandoned at a depth of 74 metres due to difficult drilling conditions. Northern Tiger also completed extensive surface exploration work at Sonora Gulch, including property-wide soil sampling, rock sampling, geological mapping, and prospecting.

Northern Tiger recently completed a low-level, multi-sensor airborne geophysical survey over its Sonora Gulch, Bond, Mel, Del, Led, Birman and Korat properties. The surveys were flown by Precision GeoSurveys Inc. of Vancouver, BC. A total of 1,437 line-kilometers were flown at a 100 meter line-spacing. A high-sensitivity magnetometer system will assist in interpreting bedrock units, structure, and alteration. The radiometric system consisted of a multichannel spectrometer with state-of-the-art design to map rock units and alteration patterns.

A ground geophysical program was also conducted at Northern Tiger’s DAD property by Aurora Geosciences Ltd. The survey covered a target considered prospective for mineralization similar to that being processed at Capstone Mining Corp.’s nearby Minto Mine. Northern Tiger has a strategic alliance with Minto Explorations Ltd., a wholly owned subsidiary of Capstone Mining Corp., to facilitate exploration for this style of deposit in the region.

Results of the 2009 exploration drill program, geophysical surveys and surface exploration work are pending.

“We are extremely pleased with the efficiency of our 2009 program”, says Greg Hayes, President of Northern Tiger. “The entire program ran very smoothly thanks to the efforts of our staff and through close cooperation with our major suppliers. We are currently demobilizing our Sonora Gulch camp, and are looking forward to receiving and interpreting the results of all of our 2009 exploration initiatives.”

The technical information contained in this news release has been reviewed and approved by Carl Schulze, PGeo, a Qualified Person as defined by NI 43-101.

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Taipan Capital Increases Private Placement

Posted by Admin in Corporate Updates, Financings, News Releases on August 20, 2009

 Taipan Capital, concurrent with the proposed qualifying transaction,will conduct a non-brokered private placement of units for up to $405,000 (increased from $345,000) in gross proceeds. The financing will now consist of up to 1,500,000 flow-through units (the “FT Units”) and up to 1,500,000 non-flow-through units (the “Non-FT Units”). Each FT Unit will consist of one flow-through common share in the capital of the Company and one non-transferable share purchase warrant, offered at a price of $0.15 per FT Unit. Each Non-FT Unit will consist of one non-flow-through common share in the capital of the Company and one non-transferable share purchase warrant, offered at a price of $0.12 per Non-FT Unit. Each share purchase warrant forming a part of the FT Units and Non-FT Units will entitle the holder thereof to acquire one additional non-flow-through common share of the Company at a price of $0.15 per share at any time prior to the date that is 24 months from the date of issuance.

Net proceeds from the Private Placement will be utilized to fund the proposed work program on the Lucky Joe Property and for working capital. Finders fees may be payable in connection with the Private Placement as permitted under the policies of the Exchange.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

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