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Blue River Commences Drilling Program on the Okalla West Gold Anomaly

Posted on August 26, 2016

 

Drilling Program on the Okalla West Gold Anomaly on the Banlung Gold Project, Cambodia

 

Blue River Resources Ltd. (BXR.V) announced that a shallow drilling program has commenced on the Okalla West gold anomaly in Banlung, Cambodia, with Angkor Gold Corp. The exploration target is a shallow gold anomaly measuring approximately 4 square kilometers. Initial drilling is focused on a 40 hectare area where previous sampling revealed a high concentration of gold occurrences.

 

250 shallow drill holes have been completed to date, of a total of 1200 holes to be drilled. The drill samples will be submitted to ALSs and results will be reported when received.

 

Samples will be logged by the Angkor Gold team and splits will be fire assayed for gold by ALS, which includes a minimum 10% blank, standard and duplicate QA/QC sample checks.

 

The exploration plan is designed to delineate a near surface, gold resource located in saprolite / laterite, within 7 meters from surface.

Initial tests conducted by Angkor Gold indicate that the gold mineralization can be recovered using low-cost gravity separation.

 

 

 

www.Blueriv.com

 

Cyprium Mining Starts Production At The Potosi Silver Mine

Posted on August 25, 2016

 Starts Production at the Potosi Silver Mine

Cyprium Mining Corporation (CUG.V) announced that it has initiated the first phase of production at the past-producing underground Potosi silver-lead-zinc mine in northern Mexico, with plans to further increase production.

After receiving an explosives permit the company will start blasting on levels 2 and 4.

Extracted materials are sent to the Aldama one-hundred metric tons per day flotation plant located 42 kilometers from the Potosi mine.

The concentrates produced at the plant will be shipped to Trafigura Mexico.

Trafigura Beheer BV is a Dutch multinational commodity trading company founded in 1993 that trades in base metals and energy, including oil.

It is the world’s third largest private oil and metals trader after Vitol and Glencore.

 

Results of sampling from Potosi Mine

 

AREA

SAMPLES Width Ag g/t Pb% Zn % Fe% Mn%
Level 6 3 1.53 733 1.1 0.5 7.78 1.31
Level 9 10 1.12 246 4.3 4.3 2.97 1.18
Level 10 15 1.16 78 3.3 4.1 8.39 0.61
Level 11 9 1.84 45.5 2.0 4.1 2.76 0.11

 

 

The Santa Eulalia Mining District

Santa Eulalia is a world class polymetallic mining district located in the central part of the State of Chihuahua, Mexico, approximately twenty-two kilometers east of the City of Chihuahua. Mineralization in the area was originally discovered during the Spanish colonial period in the 1500’s, and recorded production has occurred over more than 300 years. Santa Eulalia ranks as one of Mexico’s primary silver and base metal producing districts with over 500 million ounces of silver and substantial amounts of lead and zinc mined. The Santa Eulalia district is a Carbonate Replacement Deposit (CRD) and is the largest of its type known in Mexico.

Production and reserves for the district have been estimated to be about 50 million metric tons with grades of 125-350 g/t Ag, 2-8% Pb and 3-12% Zn.

The Santa Eulalia district covers approximately forty-eight square kilometers and is divided into three areas, the West Camp, the Middle Camp and the East Camp. The Potosi silver mine is located in the West Camp, which has produced most of the district’s ores with the Potosi silver mine being one of the two principal producers.

 

www.cypriummining.com

Nexus Gold Completes $1.25-million Private Placement

Posted on August 24, 2016

NEXUS GOLD CLOSES $1.25 MILLION PRIVATE PLACEMENT

Nexus Gold Corp. (NXS.V)  has completed a non-brokered private placement of 25.1 million units in the capital of the company at a price of five cents per unit for gross proceeds of $1,255,000.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of 7.5 cents for a period of 24 months.

“With a well-received private placement consisting of many sophisticated investors, our treasury is now strong. Our focus moving forward will be accelerating and expanding a fully funded phase one work program at Bouboulou and executing its objectives,” commented Peter Berdusco, president and chief executive officer of the company.

In connection with completion of the offering, the company has paid $20,240 and issued 967,000 common shares and 638,300 warrants to certain finders who introduced subscribers to the offering. All securities issued pursuant to the offering will be subject to a statutory four-month hold period.

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