Message: AGORACOM Small Cap TV - February 29th - Highlights
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 February 29th , 2012, and we’ve found 5 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.
STRIKE IDENTIFIES NEW 2 KM LONG CONDUCTOR AT DEEP BAY EAST GRAPHITE PROJECT NE SASK
Strike Graphite Corp. (TSXv: SRK)
completed the previously announced helicopter-borne VTEM – Electromagnetic Survey of its Deep Bay East Graphite property located within north eastern Saskatchewan.
Preliminary data from the VTEM survey has highlighted a strong conductive horizon associated with the known graphite mineralization at Deep Bay East, and extending well beyond the known limits of the historic mineralization. Based upon the preliminary survey data, the historic conductor was confirmed at approximately 2.5 km strike length. A second conductor, approximately 2 km in length, was identified. Based on its orientation and regional mapping, the new conductor likely represents a structural repetition (folding) of the mineralized Deep Bay East horizon, and thus represents a high-priority exploration target.
Historic exploration of the Deep Bay East Property, confirmed potential for near surface, large flake, high-purity graphite deposit(s) as a result of surface trenching, mapping, and EM Ground Survey(s) and four diamond drill holes over a 1,600 metre east – northeast tending conductor. This highly conductive zone, first identified in the 1970’s, was confirmed by the recent VTEM survey. Some of the historic results include:
DB-1: 22.9 metres averaging 4.02% C beginning at a depth of only 10.7 metres;
DB-2: 35.1 metre interval of 8.58% C
DB-3: 13.1 metres averaging 8.97% C at depth of 7.32 metres and 9.06% C from 60.96 metres to 71.63 metres (10.67 m).
Approximately 15 kilometres to the west of the Deep Bay East property, the Deep Bay Graphite Mine is currently being advanced toward production. The geology and grades of the Deep Bay East Project appear similar to the Deep Bay mine's deposit.
Glass Earth Gold Strikes 9.7m of 17.2 g/t Gold and 24.2 g/t Silver at WKP Gold-Silver Prospect in New Zealand
Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL)
is pleased to announce a new and significant high grade gold intercept from drilling in the "Central Zone" of the WKP gold-silver prospect.
Table 1: Significant recent drilling results at Central Zone, WKP Project
Drillhole IDFromToInterval mAu g/tAg g/t
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WKP 31146.1155.89.717.224.2
About Glass Earth Gold
Glass Earth Gold is one of New Zealand's largest gold exploration companies, with its experienced geological team exploring promising gold prospects across a land position of approximately 10,000 square kilometres, in both the North and South Islands. The company held a net cash position of C$3.6 M at the end of Q4 2011 to fund exploration progress.
Last: 0.345Range: 0.74-0.205Market Cap: 22.8 million
Bralorne Gold Drilling Intersects 5.14 g/t Gold Over 5.2 Metres on BK-3 Zone
is pleased to provide the following update of diamond drilling activities at its Bralorne mine operation located near Gold Bridge, British Columbia.
In 2011, 30 holes were drilled from surface (5,153 meters) and 4 holes were drilled underground (821 meters).
The widest intercept was on the upper part of the BK-3 zone in drill hole SB11-28, which averaged 5.14 grams per tonne gold over 5.2 meters (2.7 meters true width) or 0.15 ounce per ton gold over 17.1 feet (8.8 feet true width).
The highest grade result was 1,764 grams per tonne gold over 0.9 meters (re-assay of original 800.6 grams per tonne) or 51.5 ounces per ton gold over 3.1 feet (original 23.35 ounce gold per ton assay) in drill hole SB11-21 (as previously announced). This is a new find. The cored interval consists of a fault zone of quartz fragments with coarse visible gold. Holes 25 and 27 were drilled to follow-up this intercept and intersected the vein but assays were not significant. Visible gold was noted in two other holes, of which the intercept in Hole 23 is another new find. Assay results for the last two holes are pending.
About the company
Bralorne Gold Mines Ltd. has acquired all the claims of the Bralorne, King and Pioneer mines plus surrounding new ground. These holdings represent the first time in history that all three operations and important additional claims have been held by one company.
Last: 1.00Range: 1.56-0.71Market Cap: 28.4 million
PNG Gold Corporation Announces Further High Grade Drill Hole Results: 15.8 g/t Au over 1.8 m at 190 metres-Deepest Intersection to Date-and 16.9 g/t Au over 0.9 m at 40 metres
PNG Gold Corporation(TSX VENTURE:PGK)
has received the assay results from the final 12 diamond drill holes completed during its 2011 exploration program at the Imwauna gold project, located on Normanby Island, Milne Bay Province, eastern Papua New Guinea. Highlights from these most recent results include 15.8 g/t Au over 1.8 m in hole IMH 242 at a vertical depth of 190 metres, the deepest intersection on the property to date, while hole IMH 245 intersected 16.9 g/t Au over 0.9 m at a shallow depth of 40 metres. Significantly, both holes are in the High Grade zone at the northern end of the Imwauna vein system.
About the Imwauna Gold Deposit
The Imwauna exploration license - EL 1091 - is located on the north side of Normanby Island approximately 80 km northeast of Alotau, the provincial capital of Milne Bay Province, eastern Papua New Guinea. Alotau is serviced by daily flights from Port Moresby the national capital and scheduled coastal freighters. PNG Gold maintains a logistics base in Alotau to supply the Normanby Island site.
Last: 0.345Range: 1.30-0.30Market Cap: 46.2 million
China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF - News) ("TechFaith" or the "Company") today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2011.
For the full year ended December 31, 2011, TechFaith reported net revenue of US$323.8 million, a 19.1% increase compared to US$271.9 million for the full year 2010, led by growth in the Company's branded mobile sales and motion gaming business. Gross profit for the full year 2011 was US$85.2 million, a 27.0% increase compared to US$67.1 million for the full year 2010. Gross margin for the full year 2011 was 26.3% compared to 24.7% for the full year 2010. Operating expense for the full 2011 was US$50.2 million compared to US$32.3 million for the full year 2010, led by higher sales and marketing expenses in support of higher branded mobile phone sales and its motion gaming business. Net income for the full year 2011 was US$27.1 million or US$0.51 per basic and diluted weighted average outstanding ADS, compared to net income of US$27.8 million or US$0.57 and US$0.50 per basic and diluted weighted average outstanding ADS for the full year 2010.
About TechFaith
TechFaith (NASDAQ: CNTF - News) has three primary businesses. The Company is a leading global ODP (Original Developed Product) provider for global mobile handsets market. Under its TecFace brand, the Company is a leading developer of specialized mobile phones for differentiated market segments, including the rapidly growing Smartphone market targeting users and Operators through its TecFace brand; Outdoor and Sports enthusiasts through its Jungle brand; and the Teen market through licensed brands.
Last Trade: 2.2852 Week: 6.96 – 1.55Market Cap: 120.69 Million
China Techfaith Wireless Communication Technology Limited
Tel: 86-10-5822-8390
ir@techfaith.cn
Jay Ji
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