TSXVenture News Wrap Rambler Metals and Mining Montero Mining and Exploration Tournigan Energy

Post on: 6 Январь, 2017 No Comment

Rambler Metals & Mining (LON:RMM, CVE:RAB ) realised first revenue of $3.5 million in the year to July 31 2011, giving it some welcome cashflow while it brings the Ming copper-gold mine on Newfoundland and Labrador’s Baie Verte Peninsula, Canada, into full production.

The group generated its first revenue in the period, $2.1 million by selling 1,399 ounces of gold produced at its satellite deposits Nugget Pond Crown Pillar and the Tilt Cove East Mine dump, and additional revenue of $1.4 million from various toll processing agreements.

Montero Mining and Exploration (CVE:MON ) has chosen to complete the acquisition of four phosphate exploration projects in South Africa, subject to regulatory approvals.

The purchase price for the assets is 2.5 million shares of Montero. In addition, Montero is required to complete an initial exploration program on one of the four projects, known as the Bierkraal project, within 18 months of closing, which includes drilling.

Europe-focused uranium explorer Tournigan Energy (CVE:TVC )(FRANKFURT:TGP) announced its first NI 43-101-compliant resource estimate for its Novoveska Huta uranium project in Slovakia.

At a cutoff grade of 0.06% uranium, Novoveska Huta had 3.75 million pounds of uranium in measured and indicated resources contained in 1.662 million tonnes grading 0.102% uranium, and an additional 12.738 million pounds of uranium in inferred resources, contained in 4.689 million tonnes grading 0.123% uranium.

Kiska Metals (CVE:KSK ) announced results from its summer drill program at its Raintree North prospect in Alaska have extended near-surface porphyry mineralization, which remains open at depth.

Hole WH11-037 intersected 0.3 grams per tonne (g/t) gold, 1.1 g/t silver, and 0.12% copper, or 0.56 g/t gold equivalent, over 110.2 metres. This discovery was found within wider mineralization of 0.25 g/t gold, 1.22 g/t silver, and 0.1% copper, or 0.46 g/t gold equivalent, over 145.0 metres.

WesternZagros Resources (CVE:WZR ) signed a deal for Abu Dhabi National Energy to acquire almost 20 percent of the Calgary-based oil and gas company for $46.6 million.

Guerrero Exploration (CVE:GEX ) announced drill results from its joint venture Chapalota property in Sinaloa, Mexico, uncovering significant gold and silver mineralization in five of the nine holes of the program.

Gold was intersected in the subsurface, Guerrero said, beneath and along strike of both the Leonas and Habas zones targeted by the drilling campaign. At the Leonas area, gold was intersected in quartz veining and fault breccia at depth, below and along strike 125 metres to the south of the outcrop previously reported as returning rock chip assays up to 32.1 grams per tonne (g/t) of gold.

Millrock Resources (CVE:MRO ) has partnered with Vale Exploration Canada, a subsidiary of Brazil’s metals giant Vale (NYSE:VALE ), to look for large scale copper and gold porphyry deposits in Alaska.

According to the agreement’s terms, Vale will provide funding to Millrock of a minimum of US$1 million in the first year and a further US$1 million in the second year at Vale’s option for early-stage exploration work to identify targets.

Selwyn Resources (CVE:SWN ) has kyboshed its agency agreement for a proposed US$30 million bond financing for the restarting of its ScoZinc mine.

Selwyn said that Norwegian-based investment firm First Securities was to act as the companys agent in regards to the proposed $30 million offering of secure senior bonds, which it has since terminated.

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