SEG 45 Final_qx4 - Society of Economic Geologists

More documents

Recommendations

Info

EXPLORATION REVIEWS 30 SEG NEWSLETTER No 63 • OCTOBER 2005 ... from 29 Exploration Reviews (Continued) m @ 3.13g/t Au from 78 m; hole JX-029, 41 m @ at 2.45g/t Au from 100 m; and in hole JX-031, 21 m @ 2.28g/t Au from 107 m, and 42 m @ 2.21g/t Au from 143 m. MONGOLIA Asia Gold and BHP Billiton have entered into an option agreement whereby BHP can earn up to a 70% interest in the West Falcon Gobi project, located in southern Mongolia. The 3,629-km 2 area lies within Asia Gold’s West Gobi Cu-Au project. Bayfield Ventures and BHP Billiton have entered into an option agreement whereby BHP Billiton can potentially earn up to a 75% interest in three southern Mongolia properties held by Bayfield. East Asia Minerals (75%) has announced the results of its first six DD holes completed on the Khok Adar Cu- Ag-Zn project, located in western Mongolia. Better intersections include hole KA-04-01, 89.1 m @ 2.08% Cu and 12.6 g/t Ag from surface; hole KA-04-02, 56.6 m @ 1.35% Cu and 16.1 g/t Ag from 2.4 m. Additionally, hole KA-04-04 For more information, please contact: KYLIE FOSTER kfoster@eos.ubc.ca www.mdru.ubc.ca/home/sheahan-mdru/ PAID ADVERTISEMENT save time, stay informed and be competitive SHEAHAN-MDRU LITERATURE SERVICE ◆ ◆ For Exploration Professionals ◆ intersected a zinc-rich zone with 23 m @ 1.6% Cu, 38.4 g/t Ag, and 2.32% Zn from 67.4 m, and 38.4 m @ 8 g/t Ag and 3.2% Zn from 164.8 m. An $800,000 follow-up program is planned. Entree Gold (Ivanhoe Mines, 16.5%) has entered into an agreement with Rio Tinto, whereby Kennecott Exploration (subsidiary of Rio Tinto), will complete a private placement to initially acquire a 9.9% interest in Entrée Gold. Entrée Gold will use the proceeds to fund exploration on its Mongolian projects, including a drill program at Ulziit Uul. Erdene Gold and Erdenet Mining have formed a strategic alliance in which the companies will jointly fund programs to explore and develop Cu- Mo properties held by Erdene, located immediately west of Erdenet’s Erdenet- Oovo Cu-Mo mine. Magnum d’Or Resources has entered into a joint venture with Placer Dome, whereby Placer can earn up to an 80% interest in Magnum’s Khul Morit porphyry Cu project in southeast Mongolia. An initial 60% interest can be obtained by spending $1M on exploration over 30 months, with an additional 20% Mineral Deposit Research Unit access our online, diamonds and metals bibliographicdatabase with 100,000+ global references receive a monthly electronic diamonds or metals newsletter highlighting the latest research from around the world request full-text hard copies ◆commission custom technical literature reviews Joseph A. Laravie M. Sc. 135 Flora Place Spring Creek, NV 89815 jlaravie@frontiernet.net 775-777-8223 775-397-1424 (Cell) Mapinfo - MapBasic Discover ArcView-ArcGIS GIS datasets www.greatbasingis.com interest by completing a bankable feasibility study. Ivanhoe Mines announced that it has intersected on its Oyu Tolgoi project, with the following results: 608 m @ 3.24% Cu and 0.82 g/t Au (3.77% Cu equiv), including 546 m @ 3.46% Cu and 0.90 g/t gold (4.05% Cu equiv). The hole also included an intersection of 322 m grading 4.59% copper and 1.07 g/t gold. Ivanhoe currently has 9 deephole-capacity rigs drilling on the Oyu Tolgoi project and the Ivanhoe-Entrée Gold joint-venture property. Ivanhoe Mines reported has reported a new resource estimate on the Oyu Tolgoi Cu-Au Project. Incorporating results of drilling to April 2005, Oyu Tolgoi is now estimated to contain measured and indicated resources of 1,150 Mt @ 1.3 % Cu and 0.47 g/t Au, and an inferred resources of 1,160 Mt @ 1.02% Cu and 0.23 g/mt Au (COG = 0.6% Cu equiv). The resources are contained within a 6.1-km-long series of porphyry Cu-Au deposits. Ivanhoe Mines has also entered into a strategic alliance with Mitsui & Co to develop copper-gold and coal deposits Exploration Geologist GIS Programmer DETAILED GEOLOGIC MAPS IN GIS VECTOR FORMATS Au PAID ADVERTISEMENT For specialists in hydrothermal mineralization Epithermal Orogenic gold deposits Porphyry Skarn VHMS contact: Dr Phil White email: pwhite@skm.co.nz tel: +64 9 913 8914 fax: +64 9 913 8901 www.skmconsulting.com/minerals Sinclair Knight Merz has offices throughout the world Complete petrology services Integrated prospect studies Mineralization models Training courses Field visits PAID ADVERTISEMENT
OCTOBER 2005 • No 63 SEG NEWSLETTER 31 in Mongolia’s south Gobi region. Under the terms of the agreement, Mitsui will acquire an equity interest and participate in Ivanhoe’s South Gobi Power Development Corp. Mitsui & Co has also agreed to participate in the exploration, development, and financing of Ivanhoe’s Oyu Tolgoi Cu-Au project and several of Ivanhoe’s coal properties in the region. Ivanhoe Mines and BHP Billiton have entered into an agreement to explore Ivanhoe’s non-core assets in the southern Gobi region of Mongolia. BHP Billiton can earn up to 50% by funding $8M on exploration, including a minimum 30,000 line-km FALCON survey. Fortress Minerals has reached an agreement with Phelps Dodge that provides Phelps Dodge the option to earn a 70% interest in Fortress’s Cu-Au-Ag-Mo properties in Mongolia. Phelps Dodge will take private placements valued at $3M over the next two years, providing Fortress with funds for exploration. Fortress will initially drill both the Teltiin Gol Cu-Au and Oyuut Uul Au targets. QGX announced an independent resource estimate for the Central Valley zone on its Golden Hills Cu-Au-Ag project in western Mongolia. Measured and indicated sulfide and oxide resources total 13.26 Mt @1.32% Cu, 0.96 g/t Au, and 4.6 g/t Ag, with an inferred resource of 11.95 Mt @ 1.18% Cu, 1.36 g/t Au, and 6.44 g/t Ag. PHILIPPINES A revised feasibility study has been completed by Climax Mining for their Dinkidi Cu-Au project and approval of the study received by the Philippines Environment and Natural Resources, effectively opening the way for development of the deposit. The Dinkidi porphyry deposit (Climax Mining Ltd., 92%, local interest, 8%) is located 200 km north of Manila. A US$81M capital expenditure is envisaged with an annual average metal production of approximately 94,000 oz gold and 10,000 tonnes of copper in concentrate. The revised feasibility study indicates a minimum 15-year operation including a 12-month construction period commencing at the end of 2005. Production is planned to begin in 2007. Indophil Resources (37.5%) has successfully raised funds to conduct a prefeasibility study to be completed by late 2006 on the Tampakan copper-gold project (Xstrata, 62.5%), located on Mindanao Island. The Tampakan indicated and inferred resource is approximately 900 Mt @ 0.7% Cu and 0.3 g/t Au (COG = 0.4% Cu). It has been reported that the Jinchuan Group, Shanghai Baoshan Iron and Steel Group, and the China Development Bank signed an agreement with Philnico Mining and Industrial to develop the Nonoc Island nickel project, located in the Surigao del Norte region. Under the terms of the agreement, the Chinese companies will invest $950M to refurbish the processing facility and restart the nickel mining operations. Mindoro Resources Ltd. reports that high gold recoveries were obtained in column leach tests from their epithermal Archangel Au-Ag prospect. Mindoro is carrying out more detailed evaluations aimed at establishing the open-pit, heap-leach potential of the prospect. The Rapu Rapu mine, located on the eastern edge of Rapu Rapu island, celebrated (Lafayette Mining Ltd, 74%, LG Group International, 13%, Korean Resources Corp., 13%) becoming the first foreign-funded mine to be commissioned in the Philippines in the last 30 years with its first gold pour. The commissioning of a base metals plant that will produce copper and zinc concentrates is also planned for the last quarter of 2005. Lafayette also recently approved an exploration budget to systematically evaluate the Hixbar and Linao areas with a ground-based EM program and drilling. Rusina Mining (80%) has reported drill results from its Acoje Pt-Pd-Ni-Cu project (Kinloch Resources, 20%), located in Zambales province. Best intersections include 28 m @ 3.00 g/t (Pd, Pt, Au), and 0.65% Ni, including 8 m @ 4.88 g/t (Pd, Pt, Au) and 0.87% Ni, and 24 m @ 1.75 g/t (Pd, Pt, Au) and 0.49% Ni, including 12 m @ 2.53g/t (Pd, Pt, Au) and 0.58% Ni. INDONESIA Oropa Ltd. has intersected gold mineralization outside the current Sihayo 1 North Resource envelope. Drill hole SHDD060 intersected 8 m @ 2.66 g/t Au from surface, while drill hole SHDD062 intersected 31 m @ 2.38g/t Au from 1m. Southern Arc Minerals Inc. has completed drilling 9 scout holes at the low sulfidation epithermal Lemonga prospect located on Sumbawa Island, covering 31,204 ha. Five gold-bearing quartz veins (Amy, Betty, Cici, Dessy, Evi) have been identified within the alteration zone. Highlights of drill hole intervals from the Amy vein include hole LDG-01, 16.05 m @ 5.3 g/t Au and 51 g/t Ag; and hole LDG-03, 15.40 m @ 6.67 g/t Au and 36 g/t Ag. Austindo Resources Corp. NL has announced it has entered into a 3-year strategic alliance with PT Minorco Services Indonesia, a subsidiary of Anglo American, to jointly explore for porphyry Cu-Au deposits in the provinces of Papua and West Irian Jaya. Anglo has agreed to solely fund exploration expenditure and has an initial 80% interest in projects. In the event that a resource of less than 1 Mt of contained Cu equiv or 1 Moz Au is identified, Anglo may elect that the project either revert to Austindo on an 80/20 basis (with Austindo holding 80%) or that 100% be transferred to Austindo with Anglo retaining a 2% NSR. Meanwhile, Austindo has purchased for A$2.5M gold processing plant for their Cibaliung epithermal Au project (Austindo, 83.76%, ANAKA TAMBANG, 16.24%) located in west Java, which is scheduled to start production in early 2006. The Cibaliung deposit has a reported minable reserves and resources of 1.388 Mt @ 9.5 g/t Au and 80 g/t Ag. LAOS Pan Australian Resources has announced the results from drilling on their Phu Kham copper-gold project (Pan Australian Resources, 80%, Newmont Mining, 20%). Better results are from hole GDD099, with 34 m @ 4.6% Cu and 0.7 g/t Au from 294 m. The recent drilling now extends known mineralization at Phu Kham along a 1.3-km strike length, remaining open along strike and at depth. Initial production of 52,000 oz/yr of gold and 57,600 tpa of copper at Phu Kham is scheduled for the second half of 2005. THAILAND Kingsgate Consolidated Ltd. reported that the combined Chatree North and Chatree mining lease now contain over 3 Moz Au and 22.75 Moz Ag in resources and over 1.5 Moz Au and 12.7 Moz Ag in reserves. For year ended June 2005, Chatree mine produced 126,550 oz Au and 353,275 oz Ag. Asian Mineral Resources’ wholly VIETNAM to page 32 ... EXPLORATION REVIEWS
Page 1 and 2: Celebrating a Century of Economic G
Page 3 and 4: OCTOBER 2005 • No 63 SEG NEWSLETT
Page 27 and 28: DAY 1 - Saturday, May 13, 2006 SEG
Page 29: OCTOBER 2005 • No 63 SEG NEWSLETT
Page 51 and 52: NEW IN 2005 The Economic Geology 10

SEG 45 Final_qx4 - Society of Economic Geologists

Create successful ePaper yourself

Delete template?

Save as template?