Monday, February 26, 2018

Lucara Diamond Corp - LUC.t

Lucara Diamond Corp - LUC.t flagship is the Karowe mine in Botswana.

The 100% owned Karowe Mine is a state-of-the-art mine which was fully commissioned in Q2 2012.

On February 26, 2018 the company released News

Effective today, William Lamb will be retiring as Lucara Diamond Corp.'s chief executive officer and stepping down from the board of directors. Eira Thomas, a founder and director of the company, will be assuming the role of CEO. In addition, Catherine McLeod Seltzer, also a Lucara Co-Founder, will be joining the Board of Directors.










http://pennystockjournal.blogspot.ca/2014/08/lucara-diamond-corp-luct.html


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Wednesday, February 21, 2018

IDM Mining Ltd. - IDM.v

IDM Mining Ltd. - IDM.v is focused on the flagship Red Mountain Gold Project.

The Red Mountain Project is an advanced stage gold project located in north western British Columbia 18km east-southeast of Stewart, BC. Over $40 million in work has been completed on the property by previous operators.
On February 13, 2017 the Company released News

IDM Mining Ltd. has confirmed significant and encouraging progress from the geologic compilation of drill results from the 2017 exploration program at the Red Mountain gold project, located 15 kilometres east of Stewart, B.C. This work is currently progressing toward an updated resource estimate in spring 2018, which will incorporate the revised geological model, 2017 drilling results and historic gold intercepts that were not previously included in the current resource estimate.











http://pennystockjournal.blogspot.com/2016/05/idm-mining-ltd-idmv.html

Sunday, February 18, 2018

Gold Mining in Sudan - terra incognita - Update

Despite its political instability, Sudan and South Sudan’s geology hosts high quality gold deposits.

The Blue Nile and the White Nile join forces at Khartoum. It slowly makes its way through the ancient Kingdom of Kush, before releasing Sahara sediment into the Mediterranean. From the confluence at Khartoum, the river is known as the Nile.
The gold deposits in Sudan look impressive; however, the issue will always be about risk. The fact not enough modern exploration has been undertaken in Sudan, and specifically South Sudan, is why the area is attractive.

South Sudan is considered terra incognita with regard to its economic geology, and infrastructure doesn't exist. A high risk region like Sudan demands a significant premium with higher returns and a shorter investment period.
Despite Sudan’s potential, there is an absence of large exploration projects and operating mining companies. Apart from small and artisanal mining in the south, no other mines are operating in the region. In the north, closer to Khartoum, the government owned Ariab Mining Company (AMC) has been operating the Derudeb and Hassai mines for more than two decades.

Sudan is not only blessed with gold. Beryl is found in the pegmatite of the Bayuda desert in central Sudan and chromite occurs in the Ingessana Hills. Copper with grades of 4.1% was mined 200 years ago in the Hofrat En Nahas deposit, while iron (Fe) deposits are located in the area of Jebel Abu Tulu.
Two years ago over 100,000 people fled a battle over a gold mine between two Arab communities in Sudan's Darfur region. The fighting broke out in the Jebel Amir gold mining area.

The fight was between the Beni Hussein, who are largely cattle herders, and the northern Rizeigat, a powerful tribe known for its camel herding. Scores of people were killed and dozens of villages burned. Members of the Beni Hussein tribe accused government forces of helping the Rizeigat.
Sudan expects to produce 50 tonnes of gold this year, earning $2.5 billion. The country is seeking to offset the loss of most oil reserves when South Sudan became independent.

Sudan is boosting production of gold and other minerals to gain new sources of state income and of foreign currency needed to fund imports. Output of 50 tonnes could potentially make it Africa's third largest gold miner behind South Africa and Ghana, and push it into the top 15 producers globally.
Sudan is among Africa's poorest countries, but is sitting on top of perhaps the largest gold reserves in the continent, according to a recent survey by Arab League's Arab Industrial Development and Mining Organization (AIDMO).

Saturday, February 17, 2018

Japan Gold Corp. - JG.v

Japan Gold Corp. - JG.v is the first foreign mineral exploration company to focus solely on Japan. Japan hosts 76 known past producing gold mines, including five one-million-plus-ounce gold deposits.
Hishikari Gold Mine, Kagoshima, Kyushu, Japan Sumitomu Metal and Mining Corp
On February 5, 2018 the company released News

Japan Gold Corp. is pleased to report results from its first scout drill holes completed in late December 2017 on the Akebono prospect at its Ikutahara Project in Hokkaido, Northern Japan. The following intersections downhole were returned from the targeted epithermal quartz vein:
IKDD003: 0.45 m (true width 0.37 m) @ 29.7 g/t Au and 77g/t Ag from 39.1 m and
IKDD001: 0.4 m (true width 0.39 m) @ 4.6 g/t Au and 107g/t Ag from 17.25 m
These results support the presence of high grade gold shoots in the Akebono vein system previously indicated by historic sampling of underground workings.