Nevada Sunrise Gold Corp. said that reverse circulation drill holes returned up to 2.3 grams per tonne gold over 19.8 metres on the western flank of the Kinsley Range at Kinsley Mountain in northeast Nevada. A newly discovered zone of mineralization, Candland Canyon, has been delineated 250 metres east of historical mining operations.
Inter-Citic Minerals Inc. announced today that it has signed a definitive agreement pursuant to which Western Mining Group Co., Ltd. will acquire all the outstanding common shares of Inter-Citic by way of a plan of arrangement for $2.05 per share in cash. The company’s board of directors determined that the arrangement is in the best interests of the corporation and its shareholders.
Cardero Resource Corp. announced the receipt of initial reverse circulation drill results from Phase I Ferricrete drilling at the company’s Sheini Hills Iron Project in northeastern Ghana. The company has received assay results from 33 reverse circulation holes located in three of the eight Ferricrete fields drill tested.
Nordion Inc. today released an update on the timing of a decision arising from the arbitration process between Atomic Energy of Canada Limited and Nordion relating to the MAPLE facilities. Based on confirmation received from the arbitration tribunal, Nordion expects to announce the tribunal’s decision via news release before markets open on Sept. 10.
Claude Resources Inc. today provided an exploration update from its 2012 drill program at Santoy Gap within the company’s 100 per cent-owned, 14,400-hectare Seabee Gold Project. Newly released drill results have extended the mineralized system up-dip, along strike to the north and at depth as well as confirming continuity within the existing inferred resource. Drill hole JOY-12-677 returned the widest intercept to date, 14.58 grams of gold per tonne over 29.74 metres, confirming a high grade core that hosts multiple vein sets over combined widths of between 20 and 30 metres.
Legumex Walker Inc. announced it has entered into a letter of intent to buy Keystone Grain Ltd., a leading Manitoba-based processor and marketer of sunflowers, flax, specialty crops and organic commodities. No financial details were provided. Pending the completion of the acquisition, the two companies have agreed to coordinate the sourcing of feedstock and selling of products.
Azumah Resources Limited, which is trading close to a year-low 15 cents, said a feasibility study confirmed that its 100 per cent-owned Wa Gold Project in northwest Ghana is technically and commercially viable with current Mineral Reserves of 430,000 oz gold supporting an initial six years production from a planned nominal one million tonne per annum gravity, carbon-in-leach plant.
CERF Inc. said net income and comprehensive income for the second quarter was $63,104 compared to $279,162 a year earlier. Second-quarter revenues exceeded 2011 second-quarter revenues by over 34 per cent.
ArPetrol Ltd., which is trading near year lows, reported net loss for the second quarter was $1.18-million, a 27 per cent improvement as compared to the net loss for the prior year comparative quarter.
Marathon Gold Corporation, which is trading near a year-low 61 cents, announced new significant intercepts of high-grade gold mineralization from both the Hanging Wall and Main Zones in the central area of the Leprechaun Gold Deposit, Valentine Lake Project, Newfoundland.