AGORACOM Small Cap TV - July 18th - Highlights
posted on
Jul 18, 2012 09:21AM
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 July 18th, 2012, and we’ve found 12 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 ... or click on the image below.
Minera IRL Ltd Confirms Ollachea Resource Estimate
Minera IRL Limited (TSX:IRL)(AIM:MIRL)(BVLAC:MIRL),
the Latin American gold mining company, is pleased to announce that infill drilling has confirmed the resource estimate within the Minapampa Zone at the Ollachea Gold Project, Peru.
The objective of this drilling program was to increase the confidence level in the Indicated Resource estimate by confirming continuity of gold bearing horizons and gold content through carefully targeted in-fill drill holes within the established Minapampa zone. This process was considered important to ensure sign-off by future third party due diligence associated with project financing.
Highlights:
About the company
Minera IRL Limited is the AIM traded, TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera IRL is led by an experienced senior management team with extensive industry experience, particularly operating in South America. The Group operates the Corihuarmi Gold Mine and the advanced gold projects Ollachea in Peru and Don Nicolas in Argentina. For more information, please visit www.minera-irl.com.
Last: 0.64Range: 1.34-0.64Market Cap: 97 million
Brigus Gold Reports 11.68 GPT Gold Over 26.0 Meters from 147 Zone
Brigus Gold Corp.(NYSE MKT: BRD; TSX: BRD)
is pleased to announce that exploration in-fill drilling on the southern portion of the Black Fox Complex continues to return high-grade gold assays from the 147 Zone.
The following table includes highlights from the drill holes reported today from the 147 Zone (all uncut, average gold grades over core length widths):
Hole Number |
From |
To |
Core Width |
Gold Assay |
|||||
(m) |
(m) |
(m) |
grams per tonne |
||||||
GF12-457 |
95.00 |
111.00 |
16.00 |
3.14 |
|||||
124.00 |
145.00 |
21.00 |
7.12 |
||||||
including |
124.00 |
125.00 |
1.00 |
97.10 |
|||||
and |
133.00 |
135.00 |
2.00 |
16.13 |
|||||
GF12-469 |
63.00 |
89.00 |
26.00 |
11.68 |
About Brigus Gold
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus has granted Cangold Limited the option to acquire a 75% interest in the Company’s Ixhuatan Project located in the state of Chiapas. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.
Last; 0.81Range: 1.89-0.69Market Cap: 176 million
Scorpio Mining Intercepts 3.85 Meters of 2802 g/t Silver, 1.75 g/t Gold and 7.76% Combined Base Metals at the San Rafael Development Project
Scorpio Mining Corporation (TSX: SPM)
is pleased to report preliminary results from the recently completed drill program at its 100% owned San Rafael Project in Cosalá, Sinaloa, Mexico. The San Rafael Project is a zinc-lead-silver-copper project located approximately 16 km from Scorpio Mining's operating Nuestra Señora plant which currently processes approximately 1,500 tonnes per day.
Hole SR-298 intersected 4.45 meters (3.85 m true width) of 2,802 g/t Ag, 1.75 g/t Au, 0.928% Cu, 4.489% Pb and 2.341% Zn in the Upper Zone. Hole SR-310 intersected 5.6 meters (5.41 m true width) of 2,626 g/t Ag, 2.096 g/t Au, 0.614% Cu, 2.335% Pb and 0.203% Zn also in the Upper Zone of the deposit.
About Us
Scorpio Mining Corporation is a silver producer operating in Mexico with significant base metal by-product credits. The 100% owned Nuestra Señora Mine and plant located in the Cosalá District of Sinaloa State, Mexico, has proven to be a low-cost operation with the benefit of flexible mining methods and diversified metal production. It has a fully mechanized underground operation and a processing facility built for expansion to 4,000 tonnes per day. The plant produces zinc, copper and lead concentrates; with a significant silver component in the copper and lead concentrates. In addition, Scorpio Mining has over 40 exploration targets mostly in the vicinity of its current operations and is currently updating its resource calculation for the San Rafael and El Cajon mineral deposits.
Last: 0.54Range: 2.43-0.48Market Cap: 106 million
Argonaut Gold Announces Q2 Gold Production of 24,123 Ounces
announced today that the Company produced 24,123 gold ounces during the 2nd quarter ended June 30, 2012 at its 100% owned El Castillo Mine ("El Castillo") which is located 100 km north of the city of Durango, Mexico and its 100% owned La Colorada Mine ("La Colorada") which is located 50 kilometers southeast of Hermosillo, Mexico. Operational progress at El Castillo and La Colorada continue to ramp-up production.
SECOND QUARTER 2012 HIGHLIGHTS:
El Castillo
--Quarterly production of 19,533 gold ounces represents a 10% improvement
over Q1 2012.
--35,220 gold ounces loaded on the pad.
--Leach pad 7A west side pad construction completed.
--Conveying and stacking system on the east side pad expected to be
commissioned this month.
--Local community support programs implemented to assist with on-going
drought conditions.
La Colorada
--Production of 4,590 gold ounces and 25,796 silver ounces.
--10,173 gold ounces and 1,120,716 silver ounces loaded on the pad.
--New crusher purchased for production of overliner for pad construction.
--Desorption and refinery circuit fully commissioned.
--New warehouse for reagent storage completed.
--Final permits for mining expansion expected in third quarter.
--Approximately half of Phase 1 run of mine material has been reprocessed.
--New pad construction started on pads 8, 10 and 11.
About Argonaut Gold Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the production stage La Colorada Mine in the State of Sonora, Mexico, the advanced exploration stage San Antonio project in the State of Baja California Sur, Mexico, and several exploration stage projects, all of which are located in Mexico.
Last: 7.48Range: 10.20-4.58Market Cap: 692 million
Northisle Reports Initial NI 43-101 Mineral Resource On the Hushamu Deposit
Northisle Copper and Gold Inc. (TSX VENTURE:NCX)
is pleased to announce the initial NI 43-101 Resource Estimate on its Hushamu copper - gold - molybdenum (Cu-Au-Mo) porphyry deposit near Port Hardy, British Columbia (the "North Island Project").
The Indicated Mineral Resource contains 1.4 Billion lbs Copper (Cu), 2.8 Million ozs Gold (Au), 65.7 Million lbs Molybdenum (Mo), or 3.0 Billion lbs Copper Equivalence (Cu Eq) in the Base Case scenario at a 0.30% Cu Eq cutoff grade. The Indicated Mineral Resource also contains 167,350 kgs of Rhenium (Re). Although the Re grades are encouraging, they have not been used in the Cu Equivalent calculations but could add to the overall economics.
In addition to the Indicated Mineral Resource, an Inferred Mineral Resource containing 205 million tonnes averaging 0.39% Cu-Eq has been identified. The Inferred Mineral Resource contains 0.8 Billion lbs Copper (Cu), 1.7 Million ozs Gold (Au), 34.9 Million lbs Molybdenum (Mo), or 1.8 Billion lbs Copper Equivalence in the Base Case Scenario at a 0.30% Cu Eq cutoff grade. The Inferred Mineral Resource also contains 78,135 kgs of Rhenium (Re).
About Northisle
Northisle is a Vancouver-based junior resource company committed to the exploration and development of the Island Copper-Gold Project on Northern Vancouver Island. The North Island Copper-Gold Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially explored copper-gold porphyry occurrences. The project is 100% owned by Northisle. Portions of the project including the Hushamu deposit is subject to a 10% NPI royalty due to Royal Gold after payback of all capitalized expenditures.
Last: 0.12Range: 0.46-0.11Market Cap: 6.1 million
GoldQuest Reports Assay Results From the Second Hole at Romero, Dominican Republic; Includes 159 Metres Grading 4.5 g/t Gold and 1% Copper and 24 Metres Grading 7.5 g/t Gold and 0.9% Copper
GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W)
is pleased to announce the assay results of hole LTP 92, the second vertical hole into the Romero discovery, within the Company's 100% owned Las Tres Palmas trend in the Dominican Republic. The location is 25 metres to the west and 4 metres lower in elevation than the discovery hole LTP 90, which returned 231 metres grading 2.4 grams per tonne (g/t) gold (see release of May 29, 2012). Hole LTP 92 displayed similar characteristics to hole LTP 90, with an upper gold unit from 28 metres below surface, with low copper and some zinc, followed by deeper, higher grade gold and copper horizons at depth. The highlights of Hole LTP 92 were 159 metres grading 4.45 g/t gold from 212.5 metres to 372 metres, including a sub interval of 75.5 metres grading 9.01 g/t gold and 1.06% copper. A higher horizon from 120 metres to 144 metres returned 24 metres grading 7.5 g/t gold and 0.86% copper. The hole was continued until the portable drill rig could drill no further and was terminated at 399 metres. Gold was present from 24 metres to the bottom of the hole, with certain horizons displaying enrichment in gold and base metals.
About GoldQuest
GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 126,498,601 shares outstanding (141,048,601 on a fully diluted basis).
Last: 0.98Range: 1.07-0.04Market Cap: 123 million
Cornerstone Announces Initial NI 43-101 Compliant Mineral Resource Estimate for the Cape Ray Gold-Silver Project, Newfoundland
Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (OTCBB:CTNXF)
announced today an initial National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for its 100% owned Cape Ray gold-silver project located in southwestern Newfoundland. The mineral resource estimate was prepared by Mercator Geological Services Limited ("Mercator") of Dartmouth, Nova Scotia and was completed on two separate mineralized zones: 1) the 51 Zone of the Cape Ray gold deposit ("51 Zone"); and 2) the Windowglass Hill deposit ("Windowglass Hill") (see Table 1). The estimate is based on three-dimensional block models developed for the 51 Zone and Windowglass Hill using Gemcom Surpac® 6.1.4 modeling software and validated results of 26,480 metres of historical diamond drilling in 197 holes completed between 1977 and 1996, plus 2,520 metres of diamond drilling in 28 holes completed by Cornerstone between 2004 and 2006.
Mineral resources for the 51 Zone and Windowglass Hill are reported, respectively, on the basis of assumed underground (2.5 g/t gold cut-off) and open pit (0.5 g/t gold cut-off) development potential.
Highlights:
--51 Zone - Inferred resources of 530,000 tonnes grading 6.10 g/t Au and
15.86 g/t Ag containing 103,943 ounces of gold and 270,253 ounces of
silver
--Windowglass Hill - Inferred resources of 1,810,000 tonnes grading 1.77
g/t Au and 11.28 g/t Ag containing 103,001 ounces of gold and 656,415
ounces of silver
About Cornerstone: Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada, Ecuador and Chile, and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. Commitments from JV partners constitute significant validation of the strength of Cornerstone's projects.
Last: 0.10Range: 0.355-0.055Market Cap: 14 million
ATAC Resources Ltd. Intersects 46.06 m of 11.24 g/t Gold at the Conrad Zone, Rackla Gold Project-Yukon
ATAC Resources Ltd. (TSX VENTURE:ATC)
is pleased to report the first ten diamond drill hole results of 2012 from the Conrad and Isis East Zones within the Nadaleen Trend at the eastern end of its 100% owned 1,600 sq/km Rackla Gold Project in central Yukon.
News release highlights:
Highest grade gold intersection to date at the Conrad Zone with 46.06 m grading 11.24 g/t gold in hole OS-12-103.
Isis East discovery extended with step-out holes along a 200 m strike length to a depth of 225 m in the crest of an anticlinal fold.
Six drills are operating and 15,000 m in 58 holes have been drilled since the May 22 program start with 4 drills currently on Conrad, and 2 on the Osiris Zone.
About ATAC
ATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold discoveries at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.
Last: 2.35Range: 10.34-1.90Market Cap: 230 million
ENSERVCO Corporation Reports Preliminary Second Quarter Revenue Increase of 26% From Q2 2011; Revenue at Company's Core Heat Waves Division Jumps 58%
ENSERVCO Corporation (OTCQB: ENSV) (OTCBB: ENSV), a provider of well-site services to the domestic onshore conventional and unconventional oil and gas industries, today said it expects to report second quarter revenue of $5.6 million, up 26% versus the same quarter of fiscal 2011. The increase was driven by an anticipated 58% quarter-over-quarter improvement in revenue at the Company's flagship Heat Waves division, which provides hot oiling, frac heating, acidizing and fluid logistics services to the exploration and production industry.
Moreover, quarter-over-quarter revenue improvements have exceeded 25% in all but the two most recent quarters, which were adversely impacted by an exceptionally warm winter.
About ENSERVCO
Through its various operating subsidiaries, ENSERVCO has rapidly emerged as one of the energy service industry's leading providers of hot oiling, acidizing, frac heating and fluid management services. The Company owns and operates a fleet of more than 245 specialized trucks, trailers, frac tanks and related well-site equipment. ENSERVCO operates in Colorado, Kansas, Montana, New Mexico, North Dakota, Oklahoma, Ohio, Pennsylvania, Texas, Utah, Wyoming and West Virginia. ENSERVCO became a public company in July 2010 as a result of a merger transaction involving Aspen Exploration Corporation. Additional information about the Company is available at www.enservco.com.
Last Trade: 0.55 52 Week: 1.50 – 0.30 Market Cap: 11.98 Million
TechPrecision Corporation Receives $2.3 Million in New Orders
TechPrecision Corporation (OTC Bulletin Board: TPCS) ("TechPrecision", or "the Company"), an industry leading manufacturer of precision, large-scale fabricated and machined metal components and systems with customers in the alternative energy, cleantech, medical, nuclear, defense, aerospace and other commercial industries, today announced that it has received $2.3 million in orders from sapphire customer.
The new orders include:
$2.3 million in purchase orders against the previously announced $9.5 million ongoing purchase agreement from an existing customer to produce sapphire chambers at its Wuxi Critical Mechanical Components Co., Ltd. (WCMC) facility in China.
These units are in addition to $2.1 million in the previously announced backlog as of July 13, 2012, against the same $9.5 million purchase agreement. As a result, the Company now has received $4.4 million in aggregate orders under this purchase agreement.
Production chambers will be shipped in the second and third quarters of fiscal 2013.
About TechPrecision Corporation
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., is an industry leading, global manufacturer of precision, large-scale fabricated and machined metal components and systems. These products are used in a variety of markets including: renewable energy (solar and wind), medical, nuclear, defense, industrial, and aerospace. TechPrecision's mission is to be the leading end-to-end global service provider to its markets by furnishing custom, fully integrated "turn-key" solutions for complete products that require custom fabrication, precision machining, assembly, integration, inspection, non-destructive evaluation and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.
Last Trade: 0.61 52 Week: 1.70 – 0.551 Market Cap: 10.89 Million
MAG Silver Drills 61.6 Metre Silver, Gold, Zinc, Lead, Copper Massive Sulphide Intercept at Cinco de Mayo
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2012) - MAG Silver Corp. (TSX:MAG)(NYSE MKT:MVG)(NYSE Amex:MVG) ("MAG") is pleased to announce that exploration drill hole CM12-431 has intersected four distinct, closely spaced zones of massive sulphides ranging from 3.1 metres to 61.6 metres in thickness
The principal new mineralized intercepts in Hole CM12-431 start at 730 metres down hole. The thickest intercept, called the Pegaso Zone, begins at 927 metres down hole and for 61.6 metres grades 89 grams per tonne ("g/t") (2.6 ounces per ton ("opt")) silver, 0.78 g/t gold, 0.13% copper with 2.1% lead and 7.3% zinc; including: 31.9 metres that grades 117 g/t (3.4 opt) silver, 1.13 g/t gold, 0.16% copper with 2.7% lead and 9.3% zinc. Three additional intercepts (See Table 1) ranging from 3.12 to 20.15 metres thick lie above this, between 817 and 900 metres depth. The best is the 10 metre intercept (817.22 - 827.22 metres down hole) which returned 1.38 g/t gold, 139 g/t (4.1 opt) silver, 0.11% copper, 2.62% lead and 11.8% zinc. The gold and copper grades in all four intercepts are the highest and most consistent yet encountered on the project. Significantly, broad zones of coarse marble and pervasive tungsten-bearing garnet skarn occur above, between and below the massive sulphide zones, indicating a very large scale system has been located.
About MAG Silver Corp. (www.magsilver.com)
MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the Silver Mining Industry. MAG is conducting ongoing exploration of its portfolio of 100% owned properties in Mexico including a silver, lead and zinc discovery and a moly-gold discovery at its 100% owned Cinco de Mayo property in Chihuahua State. MAG and Fresnillo plc are also jointly delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State.
Last Trade: 9.27 52 Week: 11.96 – 5.95 Market Cap: 516.03 Million
China BAK Battery, Inc. ("China BAK", the "Company", or "we") (CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company has entered into a new contract to supply 0.5 million units of cylindrical battery cells to AC Propulsion, a producer of electric vehicle technology based in Shanghai and California.
As per the contract, China BAK will deliver 540,000 units of cylindrical battery cells to AC Propulsion by the end of 2012, which will be used to power 100 electric cars. AC Propulsion previously purchased a sample order of the Company's cylindrical battery cells for trial and testing purposes and provided positive feedback on product quality and performance of the battery cells.
About China BAK Battery, Inc.
China BAK Battery, Inc. (CBAK) is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, smartphones, notebook computers, e-bikes, electric vehicles, power tools, uninterruptible power supplies, and portable consumer electronics such as portable media players, portable gaming devices, personal digital assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets. China BAK Battery, Inc.'s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet.
Last Trade: 0.432 52 Week: 1.37 – 0.39 Market Cap: 27.57 Million