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Exploration News

Baffinland raises $193m in share sale

By: Liezel Hill     27th March 2008 TSX-listed Baffinland Iron Mines sold about 52,89-million shares in a bought-deal offering, for gross proceeds of $193,03-million, the firm said on Thursday. 

TWP Finance buys ‘strategic stake’ in African Eagle

By: Olivia Soraya Spadavecchia     26th March 2008 Multi-disciplinary consulting engineering firm TWP Holding’s subsidiary, TWP Finance, has acquired a 4,48% stake, about 9,5-million ordinary shares, in Aim-listed mining firm African Eagle Resources (AFE). TWP Finance CE Dean Cunningham said that this development reflected the... 

Pan African’s Mozambique gold projects scaling up, says CEO Nelson

By: Brindaveni Naidoo     21st March 2008 Gold junior Pan African Resources’ (PAR’s) Mozambique gold projects are scaling up. Manica’s resource base has increased 10% to 1, 7-million ounces and Fair Bride’s grade has more than doubled to 5,5 g/t. PAR CEO Jan Nelson says that these results have exceeded the... 

JSE-listed CRG takes another step towards remining Joburg

By: Leandi Kolver     21st March 2008 London-and Johannesburg-listed Central Rand Gold (CRG) has announced a 1,75-million ounces upgrade in its mineral resources and has identified the first three probable surface mining targets it intends to mine when it receives its new-order mining rights from the Department of Minerals and Energy. 

PTM lifts resources, takes second look at SA platinum project

By: Liezel Hill     17th March 2008 Vancouver-based Platinum Group Metals (PTM) has increased the mineral resource estimates for its War Springs platinum project, on the northern limb of South Africa's Bushveld Complex, to 1,7-million ounces, from a previous inferred resource of 980 000 oz of platinum, palladium, and gold, the... 

North American Palladium appoints exploration VP

By: Liezel Hill     13th March 2008 Toronto-based North American Palladium, which operates Canada's only primary platinum-group metals mine, has appointed William Stone to the position of exploration vice-president, the company said on Thursday. 

Mining software tracks exploration, production, maintenance

By: Brindaveni Naidoo     7th March 2008 Driven by a growing market and the unlimited resources in South Africa's buoyant mining industry, accounting and business management software solutions company Softline ACCPAC says that good enterprise resource planning (ERP) is necessary to ensure that software solutions mirror the tough... 

Pitchford's African Minerals to buy Canadian explorer

By: Liezel Hill     6th March 2008 Aim-listed African Minerals, which is headed by former African Platinum and Zimbabwe Platinum CEO Roy Pitchford, has agreed to buy Canadian explorer White River Resources for £2,36-million in shares, the company announced on Thursday. 

Canada budgets C$100m over five years for geological mapping

By: Liezel Hill     6th March 2008 Canada's federal government has allocated as much as C$100-million over the next five years for geological mapping, three quarters of which will likely be spent in the icy northern regions of the country, Natural Resources Minister Gary Lunn told delegates at the Propectors and Developers... 

Cluff Gold may speed up Sierra Leone project after buying out partner

By: Liezel Hill     4th March 2008 Aim-listed Cluff Gold, which hopes to pour the first gold at its Angovia project, in the Cote D'Ivoire, next week, also expects to pick up the pace at its flagship, million-ounce-plus Baomahun prospect, in Sierra Leone, after increasing its holding in the project to 100%. The company also... 

Canada’s Etruscan to spend C$15m on African gold exploration

By: Matthew Hill     29th February 2008 Canadian gold exploration and development company Etruscan Resources has allocated C$15-million to its search for the yellow metal on the African continent in 2008, focusing on five countries. The countries that it was drilling in included Burkina Faso, Mali, Cote d'Ivoire, Ghana, and Namibia. 

Exploration company hits diamond jackpot in Angola

By: Guy Copans     29th February 2008 During last year’s November sale period, mining exploration company ITM Mining produced 379 ‘special stones’ 10,8 ct and above, with a total weight of 7 192 cts, at its Calonda mine, in Angola. Further, it produced in one day more than twice as many special stones than its... 

Lundin reviews asset portfolio as new chief takes stock

By: Liezel Hill     28th February 2008 Base metals miner Lundin Mining is taking a close look at all its operations and investments, with a view to managing assets more actively and improving the quality of its portfolio, new CEO Phil Wright said on Thursday. Wright replaced former chief Karl-Axel Waplan in January. 

Iamgold sells Tanzania project stake for $6m plus royalty

By: Liezel Hill     28th February 2008 Canadian gold-miner Iamgold has sold its 34% interest in the Nyakafuru project, in Tanzania, to ASX-listed Resolute Mining, the company announced on Thursday. Resolute will pay $6-million in cash or shares for the stake, plus a royalty of $10/oz for each additional resource ounce of gold,... 

Miranda granted diamond exploration permits in Botswana

By: Liezel Hill     27th February 2008 Diversified junior Miranda Mineral Holdings has received another two diamond prospecting permits in Botswana, the company said on Wednesday. 

Flow-through shares create 'distortion' – Canadian junior 

By: Liezel Hill     27th February 2008 The flow-through share system, which has been credited with breathing life into the Canadian junior sector, was not necessarily positive in the long run, particularly as increasing numbers of companies grow to rely on the plan, David Watkins, who heads TSX-listed exploration and development firm... 

Canadian explorer cheered by 2,7kg gold nugget find in Mali

By: Liezel Hill     26th February 2008 TSX Venture Exchange-listed African Gold Group (AGG) reported on Tuesday that local artisanal miners had discovered a 2,7 kilogram gold nugget in the north-west quadrant of its Kobada concession, in Mali.  

Samda wants govt to set up ‘resources bank’ to help junior firms

By: Matthew Hill     26th February 2008 Industry group the South African Mining Development Association (Samda) has called for government to create a "resources bank" funded by royalties that mining firms will pay under the Royalty Bill, which Samda chairperson Bridgette Radebe suggests could be mining's equivalent of... 

Great Basin's Hollister project to produce 80 000 gold equivalent oz this year

25th February 2008 Great Basin Gold's (GBG's) Hollister project, in the US, is on schedule to mine 80 000 gold-equivalent ounces this year, the company said. 

Irish luck exploring African gold

By: Gerrit Bezuidenhout     22nd February 2008 Exploration and gold deposit development company Glencar Mining has announced that the drilling programme carried out at its Komana West project, which forms part of the company’s Yanfolila project in southern Mali, is progressing well. 

We've struck oil, Uganda Minerals Minister announces

By: Martin Creamer     22nd February 2008 Central African state Uganda had struck oil and production would begin in June, Ugandan Mineral Development Minister Dr Cos Kamanda Bataringaya told the Mining Indaba in Cape Town. 

Pan American silver reserves rose 6,79% last year

By: Liezel Hill     20th February 2008 Vancouver-based precious-metals miner Pan American Silver increased its silver reserves by 6,79%, to 227,8-million ounces at the end of last year (after mining 20,8-million ounces), from 213,3-million ounces on January 1, 2007. 

Pan African may buy 90% of Ghana prospect

By: Liezel Hill     20th February 2008 Aim- and AltX-listed Pan African Resources has signed an earn-in agreement with SEMS Exploration Services, giving it the right to acquire a 90% interest, over three stages, in the Kyereboso property, in sourthern Ghana. “The agreement signed to earn-in allows us flexibility to participate... 

Fast-moving junior targets resource estimate by year-end

By: Liezel Hill     20th February 2008 Colin Sutherland, who took the helm at Toronto-based explorer Nayarit Gold in June last year, has wasted no time in accelerating the company's activities at its Mexican prospects, and expects to have an initial resource estimate to show for his efforts by the end of this year. Nayarit,... 

Goldcorp's gold reserves increased 9% last year

By: Liezel Hill     19th February 2008 Vancouver-based Goldcorp increased its proven and probable gold reserves by 9% last year, to 43,4-million ounces, while silver reserves rose 37%, to 1,1-billion ounces, as of January 1, 2008. The biggest increases in gold reserves were an addition of 3,1-milion ounces at the company's... 

Hochschild buys stake in Canada's Lake Shore

By: Liezel Hill     19th February 2008 LSE-listed Hochschild Mining has bought a 19,99% stake in TSX-listed Lake Shore Gold, and has secured the right to increase its ownership in the Canadian company to as much as 40%, Hochschild said on Tuesday. Lake Shore owns several exploration and development projects in the Timmins region of... 

We’ll incur lower costs, improve safety, says Great Basin Gold

By: Brindaveni Naidoo     15th February 2008 Taking a different approach to mining is what will set gold-miner Great Basin Gold’s (GBG’s) Burnstone project apart from South Africa’s gold mining industry, GBG CEO Ferdi Dippenaar tells Mining Weekly.  

Mining software company launches redesign from new office

By: Guy Copans     15th February 2008 Mining software company Micromine Africa has opened a new office in Bryanston Johannesburg, and has updated and officially released two of its software programmes, Micromine and GBIS, with its other software programme Pitram, set to be officilay released with an update in March. 

Great Basin to update Hollister resource statement in Q2

By: Liezel Hill     13th February 2008 Emerging gold junior Great Basin Gold (GBG) expected to complete an update to the resource statement for its Hollister project, in Nevada, in the second quarter of this year, the company said on Wednesday.  

Newmont may expand footprint in search of new reserves

By: Liezel Hill     8th February 2008 US-based gold major Newmont Mining will not shy away from gold-rich regions because of political instability, as it strives to put new gold reserves under its belt to stem declining production and rising costs, its president and CEO said on Friday. 

Moto mulls underground mine after resource hike at DRC gold project

By: Liezel Hill     8th February 2008 TSX- and Aim-listed Moto Goldmines has increased the indicated mineral resouces at its Moto gold project, in the Democratic Republic of Congo, by 47%, and will study the feasibility of expanding the scope of the project to include a high-grade underground mine, the company said on Friday. 

Environmental legality of torbanite prospecting permits questioned

By: Creamer Media Reporter      8th February 2008 Farmers in Wakkerstroom, Mpumalanga, and several heavyweight environmental nongovernmental organisations (NGOs) are questioning the legality of Delta Mining Corporation's (DMC's) prospecting permits in the area. 

Newmont, battling costs, sees flat output in '08

By: Liezel Hill     7th February 2008 US gold-miner Newmont Mining expects that gold sales in 2008 will be similar to figures reported for last year, but will be achieved at higher costs, the group said on Thursday. 

Orezone, North Atlantic form Niger uranium venture

By: Liezel Hill     6th February 2008 Canadian firms Orezone Resources and North Atlantic Resources have teamed up to create a new uranium exploration company, with a property base of 4 000 km2 in Niger. 

We've struck oil, Uganda Minerals Minister announces

By: Martin Creamer     5th February 2008 Central African state Uganda had struck oil and production would begin in June, Ugandan Mineral Development Minister Dr Cos Kamanda Bataringaya told the Mining Indaba in Cape Town on Tuesday.  

Green future awaits Tanzanian gem-miner

By: Gerrit Bezuidenhout     1st February 2008 Following its acquisition of the Lemshuku-Shamberai Tsavorite project, coloured gemstone mining company Tanzanite One has initiated a bulk sampling project on the eluvia component of the resource, and is also considering diamond drilling in terms of the available underground resource 

Consolidation and exploration the aim for 2008

By: Gerrit Bezuidenhout     1st February 2008 Mining exploration and drilling company Geosearch is looking at 2008 as a year of consolidation, while still making inroads into exploration areas where the company previously had only a passing interest. 

Exploration company continues exploration expansion in Africa

By: Gerrit Bezuidenhout     1st February 2008 Gold exploration and production company Pan African Resources, is confident that it will reach its intended mark of 500 000 oz a year, by 2012 

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