AGORACOM Small Cap TV - September 27th - Highlights
posted on
Sep 27, 2011 09:24AM
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 September 27th, 2011, and we’ve found 4 great press releases 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.
Asia Now Drills 16.1 Meters at 2.1 g/t Gold and 15.7 Meters at 61.4 g/t Silver and 7.8% Lead and Zinc; Expands the Beiya North High-Grade Gold, Silver and Base Metal Zone to 2,160 Meters Long
Asia Now Resources Corp. (TSX VENTURE: NOW)
reports today the assay results for 11 drill holes recently completed at its Beiya Project, one of the most prospective areas in China (see news release dated February 22, 2011). These new drill holes expand the main gold-silver and base metal zone to 2,160 meters by 150 to 700 meters; it remains open to the northwest and east. The main zone is adjacent to the open-pit Beiya Gold Mine that produces 200,000 ounces of gold annually.
Some notable intersections include: hole ZK1548 intersected 16.1 meters grading 2.1 g/t gold including 1.9 meter at 6.3 g/t gold, 1.5 meters at 6.5 g/t gold and 1.1 meters at 5.0 g/t gold; ZK5070 intersected 15.7 meters grading 61.4 g/t silver and 7.8% lead and zinc, including 3.0 meters at 155 g/t silver and 22.0% lead and zinc; ZK1853 intersected 3.8 meters grading 0.5 g/t gold, 131 g/t silver and 8.2 % lead and zinc; ZK1857 intersected 1.0 meter grading 8.6 g/t gold and 32 g/t silver.
About Asia Now Resources:
Asia Now Resources Corp. is a mineral exploration company active in China since 2002. The Company has established offices, joint ventures and a significant network with Chinese partners. Current projects include copper, gold and silver at two major projects, Beiya and Habo, both in China. The Company is currently drilling for the NI43-101 resource at Beiya. Under the leadership of an experienced management team, the Company is taking exploration into the next phase of success.
Last: 0.34Range: 0.59-0.20Market Cap: 38 million
Rare Earth Metals Releases New Resource Estimate for Clay-Howells
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(OTCQX:RAREF)(PINK SHEETS:RAREF)
is pleased to announce the first NI 43-101 compliant independent resource estimate for the Company's 100% owned Clay- Howells iron - rare earth element (Fe - REE) Property in northwestern Ontario. The resource estimate was prepared by Tetra Tech Wardrop (Tetra Tech) of Toronto, Ontario who recommends that additional drilling be conducted to further investigate and develop the known Clay-Howells deposit and determine continuity of the carbonatite, mineralized syenite, and massive magnetite lithologies and Fe and REE grades.
Highlights:
--8.5 million tonnes grading at 0.73% total rare earth oxide (TREO), 0.13%
Niobium Oxide (Nb205) and 44.17% iron oxide (Fe2O3) at a 0.6% TREO cut-
off grade in the inferred category
--40.4 million tonnes grading at 0.48% TREO and 34.62% Fe2O3 within a
larger 0.2% TREO gradeshell
--Calculation is based on over 5436 m of drilling in 18 holes and 1825
assay samples covering 700 meters of strike length to an average depth
280 meters
--Resource areas open along multiple directions and to depth
--Additional sampling, drilling, and specific gravity readings recommended
for next phase of drilling
About Rare Earth Metals Inc.
Rare Earth Metals is a well-funded company with a focus on exploring for Rare Earth Element deposits. The Company's shares are listed on the TSX-V exchange under the symbol RA and the OTCQX exchange under the symbol RAREF. The Company presently has two advanced projects in Ontario and Newfoundland and Labrador, both exhibiting multi element potential (REEs, Niobium, Beryllium, Zirconium and Iron Ore) and proximity to available infrastructure. Its flagship properties are the Clay-Howells Prospect and the Red Wine Project.
Last: 0.25Range: 0.51-0.18Market Cap: 20 million
Magino Drilling Extends Gold Zone South of Resource, Defines Higher Grade Zones: 147 metres grading 1.24 gpt Au, 47 metres grading 3.05 gpt Au
Prodigy Gold Inc. (TSX - VX: PDG, FWB: KX3),
is pleased to announce that recent resource expansion drilling from its 100% owned Magino mine gold project in Ontario has intercepted significant gold mineralization in two areas: Southwest of the known gold resource and multiple zones of higher grade gold mineralization including the northeast portion of the Magino gold deposit.
In the northeast area, drill hole MA11-125 cut 147 metres grading 1.24 gpt gold including 47 metres grading 3.05 gpt gold which also includes 7.8 metres grading 13.50 gpt gold (see plan map below and drill results table below). This gold mineralization is within the footprint of the known Magino gold resource and proposed open pit. As part of the in-fill drilling program, this drill hole will help augment and upgrade the known Magino resource while identifying promising targets for deeper exploration below the proposed open pit.
About Prodigy Gold:
Prodigy Gold Inc. (PDG: TSX.V) is currently evaluating the development of the Magino mine gold project in Ontario as an open-pit mining opportunity with the potential for deeper, higher grade gold production. The Magino project contains Indicated gold resources of 1,924,200 ounces grading 1.16 gpt gold (51.6 million tonnes), and 587,100 ounces of Inferred gold resources grading 1.04 gpt gold (17.5 million tonnes). A Preliminary Economic Assessment (PEA) of the project shows a pre-tax NPV of $351million and an IRR of 49% using a 5% discount rate (available on SEDAR or Prodigy's web site). The proposed operation would have an average annual gold output of over 166,000 ounces a year during a nine year project life.
Last: 0.55Range: 0.81-0.23Market Cap: 130 million
Champion Minerals' Drilling at Fire Lake North Includes Three Intervals of Over 150 m Grading 35% Total Iron; Updated NI 43-101 Mineral Resource Estimate to Be Announced Oct. 3, 2011
CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02)
is pleased to provide the final assay results for remaining drill holes completed in 2011 at the Fire Lake North Project in Fermont, Quebec. These results complete the current phase of Champion's 2011 Drill Program at Fire Lake North, and an up-dated Mineral Resource Estimate ("MRE") for the project is scheduled to be announced on October 3, 2011.
Significant results from the final drill holes include three intervals* of over 150 m grading 35% Total Iron ("FeT") in holes FL11-64B, FL11-75 and FL11-82. Furthermore, holes, FL11-76, FL11-78 and FL11-80, have intersections ranging from 95 m to 120 m grading 34% to 41% Total Iron.
About Champion Minerals Inc.
Champion Minerals is an iron ore exploration and development company with offices in Montreal and Toronto, focused on developing its significant iron ore resources in the provinces of Quebec and Newfoundland & Labrador. The Company's projects include: the Fermont Holdings in Quebec, jointly held by Champion (82.5% interest) and Fancamp Exploration Ltd. (17.5% interest); and the Attikamagen Iron Property in Quebec and Labrador. Champion's Fermont Property Holdings, including the flagship Fire Lake North Project, are located in Canada's major iron ore producing district among three producing mines. Champion's team and advisory board includes mining and exploration professionals with substantial iron ore expertise to effectively advance the Fire Lake North Project into production.
Last: 0.92Range: 3.30-0.86Market Cap: 80.9 million