With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s October 17th, 2011, and we’ve found 2 great press release to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page.
Magellan Minerals Ltd.: Drilling at Serra Intersects 4m @ 7.16 g/t Gold Coringa Project, Brazil
is pleased to report results from nine additional drill holes from the Serra, Come Quieto, Valdette, and Meio zones at the Coringa project, Brazil. These holes are all step-out and exploration holes aimed at expanding the existing resources of 269,450oz of gold in the measured and indicated categories (982,291t @ 8.53 g/t), and 98,224oz of gold in the inferred category (327,054t @ 9.34 g/t).
4m @ 7.16 g/t gold including 1m @ 16.34 g/t gold in hole 132 at Serra drilled 100m north of hole 121 and 100m below previous holes;
0.5m @ 12.1 g/t gold in hole 135 drilled 70m north of hole 121 at the northern limit of Serra;
3m @ 5.10 g/t gold in hole 122 at Come Quieto suggesting the presence of another mineralized zone along the main structure at Coringa; and
8m @ 2.06 g/t including 4m @ 3.55 g/t gold and 0.5m @ 10.10 g/t gold in hole 126 also drilled at Come Quieto 100m NW of hole 122. The area extending 600m NW from hole 126 has never been previously drill tested.
Magellan Minerals Ltd. (TSX VENTURE:MNM) is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.
Last: 0.60Range: 1.94-0.50Market Cap: 65.6 million
is pleased to announce its most recent drilling results from the completion of an additional 10 infill diamond drill holes in the Banana Zone at its Ghanzi sediment hosted Copper-Silver Project in Botswana.
Infill drilling was carried out on the South Limb area (between sections 58500 to 59275 at South Limb South; Figures 1 and 2) to convert a substantial amount of the NI 43-101 compliant resources within this area into the Indicated category from the Inferred category.
These results are from new holes and are in addition to those used in the most recent NI 43-101 compliant Inferred mineral resource calculation (see Table 1 at the end of this press release for the results from all 10 drill holes). The mineralization remains open at depth.
Highlights of recent drilling results:
The latest results continue to confirm the continuity of copper-silver mineralization at the South Limb South area of the Banana Zone.
Core lengths intercepts of
1.93% Cu and 28.0 g/t Ag over 2.7 metres within a wider mineralized interval of 0.62% Cu and 11.0 g/t Ag over 11.8 metres in hole HA-360-D,
1.26% Cu and 19.0 g/t Ag over 9.8 metres within a wider mineralized interval of 0.86% Cu and 13.0 g/t Ag over 15.3 metres in hole HA-345-D,
1.31% Cu and 18.0 g/t Ag over 2.5 metres within a wider mineralized interval of 0.69% Cu and 9.0 g/t Ag over 19.3 metres in hole HA-347-D, and
1.09% Cu and 13.0 g/t Ag over 5.7 metres within a wider mineralized interval of 0.72% Cu and 9.0 g/t Ag over 11.0 metres in hole HA-343-D.
About the company
Hana Mining Ltd., an emerging international exploration and development company based in Vancouver, British Columbia. With an experienced and technical management team, the Company is developing the highly prospective Ghanzi Copper-Silver Project in Botswana, Africa. Hana Mining has agreed to acquire a 100% controlling interest in the Ghanzi Project (subject to TSX Venture Exchange approval).
Last: 1.55Range: 5.68-0.90Market Cap: 135.5 million