Goldgroup Mining Inc. announced that additional diamond drill holes at the company's 100 per cent wholly owned Caballo Blanco gold project in Veracruz, Mexico have yielded significant gold intercepts. It said all 11 drill holes reported are above the established cut-off grade and are part of the ongoing drilling program intended to increase mineralized resources at Caballo Blanco. Of the 11 drill holes reported, six of these drill holes further define the La Paila mineral resource, and the remaining five drill holes expanded the southwestern flank of the La Paila Zone.
Catalyst Paper Corporation announced today that to facilitate an orderly restructuring of its business and operations, the board of directors of the company has approved a filing for an Initial Order from the Supreme Court of British Columbia to commence proceedings under the Companies' Creditors Arrangement Act. The terms and conditions of the restructuring plan have not yet been determined by the company.
Pacific Coal Resources Ltd. , which is trading near year lows, announced an illegal work stoppage at its La Caypa Mine located in the municipality of Barrancas, Colombia on January 22. It said: "The estimated loss of production to date due to this disruption is approximately 75,000 tonnes of coal. However, the current production increases at the company's Cerro Largo mine has been instrumental in helping the company alleviate this issue. The company has two ships scheduled to uplift a total of 130,000 tonnes of coal by Feb. 5, 2012."
Yukon-Nevada Gold Corp. announced results from its 2011 surface drilling program at the Starvation Canyon Project which is located at its wholly-owned Jerritt Canyon gold operation in Nevada. Highlights: TJ-366 intersected 28.97 meters at 18.86 g/t gold; TJ-364A intersected 9.15 meters at 7.68 g/t gold; and TJ-367 intersected 7.63 meters at 6.31 g/t gold.
Marathon Gold Corporation , which is trading near year lows, announced the intersection of down-dip Main Zone mineralization in initial drill holes of the 2012 drilling campaign at the Leprechaun Gold Deposit, Valentine Lake Property, Newfoundland. Significant new main zone intercepts include: 6.19 g/t Au over 4.25 meters, including 15.25 g/t Au over 1.7 meters in VL-12-380; 7.54 g/t Au over 2.25 meters, including 15.79 g/t Au over 0.75 meters in VL-12-379.
EmberClear Corp. , which rose nearly 6 per cent yesterday, announced it has encountered significant coal mineralization in the first four holes of its eight hole drilling program on the Good Spring Property located in Schuylkill County, Pennsylvania.
Cleantech company Thermal Energy International Inc. announced its financial results for the fiscal quarter and six months ended Nov. 30, 2011. Sales for the quarter were a record $4,676,322, an increase of 59 per cent compared to the same quarter last year. Operating expenses totalled $1,532,776 an increase of $244,559. Net income was a record $458,455, an increase of $462,007.
CVTech Group Inc. announced today that its subsidiary Thirau ltee has obtained, under an extension option, the renewal of a major contract. The $13-million contract was for the construction, maintenance and modification, on demand, of overhead distribution networks in Hydro-Quebec's Montreal and Richelieu territories.
Mineral exploration company Seafield Resources Ltd. announced today that the updated resource estimate completed for the Miraflores Deposit at its Quinchia Gold Project showed a 57 per cent increase to the Measured and Indicated resource. The company said the result "validates the potential of the deposit and significantly strengthens our confidence in the global resource of Seafield's Quinchia Gold Project."
International Northair Mines Ltd. today announced that its Board of Directors has approved a significant exploration budget for the coming year. Work will focus on the Company's 100 per cent owned La Cigarra silver project. Fred Hewett, President and CEO of Northair, said: "At La Cigarra, the Company will also commence several other exploration initiatives that, along with an aggressive drill program, will move the Project towards an independent economic scoping study."