Posts Tagged Kinross Gold

HABANERO RESOURCES INC.: OPERATIONS TO COMMENCE ON WHITE GOLD PROSPECT IN YUKON

Posted by Admin in News Releases on August 11th, 2010

Habanero Resources Inc. expects to commence operations in August on its 100-per-cent-owned White Gold prospect in the Yukon. This prospect is directly bordering, and the closest property, to the actual Underworld Resources’s discovery zone (Golden Saddle). Underworld Resources announced grades of 3.94 grams per tonne gold over 59.9 metres and 3.59 g/t gold over 98.3 metres, as well as agreeing to a friendly takeover by Kinross Gold Corp., which was recently consummated.

Jason Gigliotti, president of Habanero, stated: “We are believers that the Yukon holds some of the largest potential out of Habanero’s projects and we plan to investigate multiple avenues to determine what these assets hold. The White Gold region of the Yukon is one of the most active regions this summer, and we plan to be part of this activity.”

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TITAN 24 SURVEY IDENTIFIES PRIORITY TARGETS AND DRILLING UNDERWAY AT SONORA GULCH

Posted by Admin in Field Work, News Releases on July 15th, 2010

Northern Tiger Resources Inc. confirms that a number of high-priority targets have been identified by a deep-penetrating geophysical survey done by Quantec Geosciences Ltd. (the Titan 24 survey) at Sonora Gulch in the Dawson Range, Yukon. Two holes have been completed in a planned 3,000-metre diamond drilling program that commenced on June 29.
“This is a large and attractive target based on the results of the Titan 24 Survey combined with the Cu-Mo-Au-Ag geochemical signature and similar age of intrusive host rocks to the nearby Casino copper-gold-molybdenum porphyry deposit,” says Greg Hayes, President of Northern Tiger. “An intense IP response mantling around a non-chargeable core in our target area is very encouraging and further supports our porphyry exploration model.”
As disclosed in a previous news release (February 25, 2010), many common indicators of a porphyry system have been identified on the project, including a large potassic alteration zone, a copper-molybdenum soil anomaly, and flanking gold and base metal mineralization.
Based on analysis of the Titan 24 Survey and in consultation with Northern Tiger’s geologists, Quantec has recommended 14 drill holes to test 9 separate but spatially related high priority chargeability anomalies. These anomalies cover a 2 by 1-kilometre area, surrounding and draping over a less chargeable core. Chargeable zones are also associated with more conductive areas within the resistivity data. Many of the chargeability anomalies are related to a zone of intersecting structures that may be important for ground preparation. In addition, an airborne magnetic survey defined an arcuate magnetic anomaly at the contact between Cretaceous intrusions and the surrounding country rock.
The Titan 24 Survey consists of 6 lines (each 2.4 kilometres long) spaced 400 metres apart, covering an area of approximately 4.8 square kilometres. Direct current resistivity and induced polarization data are mapped to depths of approximately 750 metres. A presentation of the Titan 24 results will be posted on Northern Tiger’s website.

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KAMINAK GOLD CORPORATION ANNOUNCES AN INCREASE TO OVER-ALLOTMENT OPTION OF EQUITY FINANCING

Posted by Admin in Financings, News Releases on July 13th, 2010

Kaminak Gold Corp., in connection with its previously announced bought-deal offering co-led by Canaccord Genuity Corp. and Mackie Research Capital Corp., and including Fraser Mackenzie Ltd., has increased the overallotment option of the offering from 15 per cent of the gross proceeds raised to 45 per cent of the gross proceeds raised through the offering, and now includes up to $1.5-million of flow-through common shares and $3-million of common shares. If the overallotment option is fully exercised, the gross proceeds from the offering will be $14,503,900.

The company intends to use the net proceeds of the offering to conduct exploration activities on its Coffee project located in the White Gold district, Yukon, and for general working capital purposes.

Closing of the offering is anticipated to occur on or before July 29, 2010, and is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange. Securities issued under the offering and through the overallotment option will be subject to a four-month hold period, which will expire four months from the date of closing.

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KINROSS ANNOUNCES INVESTMENT IN UNDERWORLD RESOURCES INC.

Posted by Admin in Financings, News Releases on June 19th, 2009

Kinross Gold Corp. has subscribed for 1.2 million units of Underworld Resources Inc. pursuant to a private placement. Each unit consists of one common share and one-half of one share purchase warrant. Each full warrant allows the holder to purchase one common share at an exercise price of $1.60 during the one-year period following the closing of the private placement, subject to acceleration in certain circumstances. After giving effect to the private placement and the exercise of the warrants, Kinross will hold 1.8 million common shares which, together with the 2,718,181 common shares held by Kinross prior to the private placement, constitutes 11.1 per cent of Underworld’s outstanding common shares. The subscription price for the units is $1.25 per unit for a total purchase price of $1.5-million. The private placement is subject to approval by the TSX Venture Exchange.

The investment in Underworld is part of Kinross’s strategy to maximize exposure to new prospects and experienced explorationists at a relatively small capital investment by partnering with promising junior companies on a select basis. Underworld is a junior exploration company focused on expanding its new gold discovery in Canada’s Yukon Territory.

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