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Message: New Brunswick's first large-scale gold mining operation-Immenent
I was looking at Freewest for a chum.
In my travels I ran across Rockport.
I have started a new site
to monitor the immenent developments.
Floating an op. ............Interest... eh?
posted on Mar 23, 09 06:30PM
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Think of Chairman as a nice name, it is merely a vehicle, similiar to a company bought off the shelf, cheapest way, change the name later if you want to.
Chairman is already registered TSX, therefore of like ilk.
This is interesting
'Rockport intends to undertake a non brokered private placement of up to 10 million common shares prior to the closing of the transaction.'
This is probably a drink for the 'team of 127' thanking them for their patience and to keep them onboard.
Just cost out what Rockport has spent to date. Claims in their own right are probably 4000 and not 2000.
Interesting eh?
2. Am I right in my thinking?
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This is alteridem's very good post on Freewest
posted on Mar 23, 09 05:31PM
Hey Folks
Just in case you're scratching your head trying to figure out what the Chairman(cmn.p)/Rockport posts are about here's some summarized info.
Rockport mining (our Jv) partner on the Clarence stream project has been working on a deal where by they amalgamate with Chairman Capital (CMN.P). Essentially a shortcut to a tsx.v listing. Existing CMN board gets replaced with Rockport people, name change from Chairman Capital to Rockport and then a symbol change (don't know what the new symbol will be yet). Details of the amalgamation agreement can be found on sedar under CMN.P. Latest update on Feb-27 sets closing for the deal at Mar-31-09.
Rockport at this point becomes a fully reporting publicly traded company on the TSXv
How is this potentially good for us?
Well...just speculating but, I don't think Rockport would start their first day of trading on the venture exchange without a splash...unless that is you want to get clobbered. In this case, the splash(logically) should involve both our Jv'd property as well as public disclosure regarding Rockports drilling on their own their own claims in the immediate vicinity of the CS claims. No way to tell from public information at this point just how big the splash might be. :-)
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Clavis
I apologise first of all to the fact that my posts were not as clear and concise as I hope that they normally are, this was due to tiredness, breaking into private companies info is somewhat debilitating.
Roger Dahn, Rockport's Senior Vice President of Exploration and COO stated, "Rockport will build upon Freewest management's vision of creating New Brunswick's first large-scale gold mining operation. We are excited about the excellent potential of increasing the resource base and our strategic partnership with Freewest. The project fits within Rockport's accelerated growth strategy of effectively adding to the asset base of the Company. As well, this joint-venture has consolidated our advanced-stage holdings in the Mount Pleasant area where Rockport has already established projects totalling some 2000 mineral claims including the Pughole-Whopper property where Geodex and Teck-Cominco are currently in the earn-in stage".
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My understanding is that Roger Dahn came to Rockport from Olympus Pacific Minerals Inc. where he was VP of Exploration. He has extensive experience with their gold projects in Vietnam. I believe he left Olympus (but might play a consulting role with them) so he could spend more time in Canada. He knows New Brunswick and it certainly looks like he is the man to "fast track" Clarence Stream. His presentation at "Exploration and Mining, New Brunswick" was: "Agressive growth strategies for southern New Brunswick".
My personal belief is that he was headhunted for this project.
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So they; including Freewest; are after the Gold. Rockport has in my opinion about 4000 claims, there are only 127 shareholders who have been financing this private company. Freewest is short of money, certainly insufficient funds to build a chromite mine. Rockport will help them in arranging funding for their share of the Clarence Gold operation.
The big names are there, we just do not know them, I believe your man 'Mac' is firmly in the loop. I expect FWR's price to jump 30% as the connitations are taken in. Gold is now, Chromite the future. Lar investigates Chromite reserves.
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Rockport Property Summaries by alteridem
posted on Mar 25, 09 08:05AM
Here is a repost of Rockports key property summaries as disclosed in the Feb-2008 Amalgamation intention announcment. There are some great area claims maps on the Rockport website...but the website was taken off line a while back...just a contact page now. I'll see if I can dig up a copy and repost it here.
Business of Rockport
Rockport is a private Canadian company focused on the exploration and development of gold and base metal properties located in southern New Brunswick. Rockport has assembled a portfolio of properties, all of which have been selected because of the strategic combination of their geological promise and proximity to existing transportation and processing infrastructure. The focus has been on assembling properties with large scale potential for market driven metals such as gold, antimony, molybdenum, tungsten, zinc and indium. Rockport owns 4,000 claims representing more than 640 square kilometres. Rockport has also successfully negotiated joint venture and co-ownership arrangements with certain mature industry participants in connection with properties at more advanced stages.
A summary of Rockport's principal properties and property interests is set forth below.
Gold Properties
The gold properties include two properties known as the Annidale Gold Belt (1,700 claims) and Oak Bay/Clarence Stream Gold Trend (300 claims) and interests in two more advanced properties, namely the Clarence Stream Gold Property and the Golden Ridge Property, under joint venture agreements with
Freewest.
Annidale Gold Belt
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The Annidale Gold Belt, which includes the Devil's Pike property, straddles approximately 40 kilometres by 10 kilometres trend of the Sawyer-Taylor Brook Fault Zone located northwest of St. John, New Brunswick. A 20 hole first phase drill program began at the end of 2007 on the Devil's Pike property. Rockport has entered into an option agreement dated May 22, 2007 (the "Devil's Pike Prospect Agreement") to earn a 100% interest, subject to a 2% NRS, in the 1,232 hectare Devil's Pike property by making cash and share payments totalling $330,000 and completing $300,000 of exploration work by May 2010.
Oak Bay/Clarence Stream Gold Trend
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The Oak Bay/Clarence Stream Gold Trend properties, which total approximately 300 claims or 4,800 hectares, are adjacent to the Clarence Stream Gold Property currently in exploration/development under the Freewest Clarence Stream Agreement.
Clarence Stream Gold Property Joint Venture
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Rockport has entered into a joint venture agreement dated October 11, 2007 with Freewest (the "Freewest Clarence Stream Agreement") pursuant to which Rockport can earn a 65% interest in an 11,296 hectare property (the "Clarence Stream Gold Property") located 10 kilometres from the formerly-producing Mount Pleasant tin-tungsten-molybdenum-indium mine. The Freewest Clarence Stream Agreement provides that Rockport must expend $3,000,000 for exploration and development work on the Clarence Stream Gold Property by October 2008 to earn a 30% vested interest. Rockport may expend an additional $4,500,000 for exploration and development work to be spent by October 2011 to earn an additional 20% vested interest (50% total). After Rockport has earned a 50% interest, it may elect to earn an additional 15% (65% total) by funding the project through to a positive feasibility study.
Freewest has identified two distinct deposit clusters on the Clarence Stream Gold Property which contain 43-101 compliant mineral resources. As reported in Freewest's news release dated October 19, 2007, Roscoe, Postle Associates ("RPA") calculated an indicated mineral resource of 648,000 tonnes at an uncut grade of 7.30 g/t gold or 152,000 ounces of gold and an inferred mineral resource of 540,000 tonnes at an uncut grade of 6.58g/t gold, amounting to 115,000 ounces of gold. RPA also estimated antimony mineral resources of 126,000 tonnes averaging 2.3% antimony or 6,395,000 pounds of antinomy in the indicated category.
Golden Ridge Property Joint Venture
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Rockport has entered into another joint venture agreement dated November 13, 2007 with Freewest (the "Freewest Golden Ridge Agreement" ) pursuant to which Rockport can earn a 60% interest in a 3,386 hectare property (the "Golden Ridge Property") located 80 kilometres west of the City of Fredericton in York County, New Brunswick and in the neighbouring Town of Amity, Maine, USA. During the period from 1997 to 2004, Freewest discovered a spectrum of gold, antimony and base-metal mineralization associated with extensive alteration zones on the Golden Ridge Property. Some of the better gold intercepts obtained in diamond drilling include 4.40 g/t gold over 6.00 metres, 2.26 g/t gold over 19.9 metres and 1.71 g/t gold over 29.5 metres. As indicated in the Freewest news release dated December 18, 2007, all of the gold zones remain completely open-ended along strike and to depth. The Freewest Golden Ridge Agreement provides that Rockport is required to spend $1,600,000 on exploration and development work on the Golden Ridge Property by November 2010 in order to earn a 60% interest. Upon Rockport earning its 60% interest, a joint-venture will be formed with further exploration and development costs shared by Rockport and Freewest on a 60%-40% basis, respectively.
Base Metals
Rockport's base metal properties in New Brunswick are located in the Sisson Brook area(tungsten/molybdenum) and Mount Pleasant area (tungsten, zinc, indium and molybdenum).
Sisson Brook Property
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In the Sisson Brook area, Rockport owns 47.1% of an entity that holds a 30% "carried interest" in the Sisson Brook property which is operated by Geodex Minerals Ltd. (TSX-V:GXM) ("Geodex"). In addition, Rockport owns a 100% interest in over 400 claims or 6,400 hectares surrounding a portion of the Sisson Brook property.
Mount Pleasant Properties
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Rockport's Mount Pleasant area properties include a 100% interest in over 2,036 claims or 5,216 hectares surrounding the formerly producing Mount Pleasant mine (tin-tungsten-molybdenum-indium). Included amongst such properties is the Pughole-Whopper property which consists of 136 claims or 2,176 hectares (the "Pughole Property").
Pursuant to a joint venture agreement between Rockport and Geodex dated April 21, 2006 and amended July 20, 2007 (as amended, the "Pughole Joint Venture Agreement"), Teck Cominco Limited (TSX:TCK.A) has the option to earn a 60% interest in the Pughole Property by completing a $15 million expenditure over 5 years or to feasibility, whichever comes first. In addition Geodex is required to expend a minimum of $1 million on exploration and development of the Pughole Property by July 2009.
Significant results reported by Geodex from drilling activity in 2007 on the Pughole Property included 31.7 metres of 62.81g/t indium and 2.8% zinc and 10.23 metres of 3.45% zinc and 128.64 g/t indium.
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