Tuesday, 22 February 2011

Stock: Tyhee Development Corp - now - Tyhee Gold Corp

Tyhee Development

Tyhee Gold Corp. is a publicly traded company which explores and develops mineral properties. They have a team of people who have experience building previous mines and have ambitions to build the Yellowknife mine to production on an ore body and resource that they have identified, developed and proved themselves. 

In 2001 Tyhee purchased two properties with a 500,000 ounce resource of gold and have spent the last 10 years increasing that to 1.95 million ounces measured and indicated. 
Their aim is now to prove feasibility of the mine, finance the operation and go into production. The main upside comes from the potential for further mineralisation at depth and along strike aswell as other deposits as expanded below.

The justification for further mineralisation comes by modeling the Ormsby and Nicholas Lake deposits against the similar Con and Discovery mines located in the same area, the potential for growth can be seen as explained by Webb.

David Webb, President & CEO and Director, who has 30 years experience in gold exploration and mine development and is an expert on the Yellowknife area, has a method of not only looking for gold in the quartz rock. Significant mineralisation has been found in wall rock of the quartz formations in this area also.

A Recent report showed some good drill results including a -18.23 gpt gold and 83.00 gpt silver over 1.0 m, although the -1.74 grams of gold per tonne (gpt) and 4.30 gpt silver over 32.0 m, is of more interest to me.



The Yellowknife project in Canada is located in the South Mackenzie Mining District of the Northwest Territories it covers over12 thousand hectares. It contains the Ormsby, Nicholas Lake, Bruce, Clan and Goodwin Vad Zones.

A recent Pre Feasibility Study showed a resource of over 800,000 ounces Au for the Ormsby, Nicholas Lake Main and Clan Lake Main Zones combined. Clan Lake Main and Goodwin Lake Vad Zones remain open at strike and all zones remain open at depth. Clan Lake also has a number of other zones of interest.
An average operating cost of $541 per ounce of gold on production of 108,000 ounces per year was calculated, showing payback of the initial capital cost is 5 years on a very conservative gold price of $950.

Big Sky

The BigSky Property is located 17 km north of Yellowknife, Northwest Territories, Canada covers two different geological targets, a bulk mineable peralkaline granite-hosted low-grade target, and a high-grade shear zone-host. The property is made up from five mining leases covering 137 hectares and 20 claims totaling 1,850 hectares, which adjoin the Giant Yellowknife Mine (past producer of 8 million ounces of gold from 14.5 million tonnes of ore grading 17 gpt) and the Bluefish hydroelectric power plant.
The high-grade shear zone-host has been the focus of much recent work.

Tyhee are a good way along the process to building the Yellowknife mine, are located in a mining friendly area and have access to parts, machinery and labour. They are fully funded and we are currently awaiting news on BigSky....but not immanently....you do the rest.

Wednesday, 9 February 2011

Stock: Alto Ventures


Alto Ventures is a gold explorations company currently exploring in Ontaria, Quebec and recently British Columbia. The model of operation is to aquire properties 100%, add value with drilling the option parts of the project off to finance the development.


Coldstream (Ontaria)

The Coldstream project is located in the Burchell Lake Area and has good access. It covers 5,394 hectares and is 100% owned by Alto Ventures, although the Company have signed a Purchase Option Agreement with Foundation Resources. This agreement means Foundation Resources can earn a 60% interest by spending $3 million over four years developing the asset and issuing 1 million shares of Foundation Resources to Alto Ventures. Foundation Resources can earn an additional 10% by funding the completion of a Feasibility Study.

Gold has been discovered along a 10km corridor with drilling results including 27.28m at 4.88 g/t gold. A
Historical (not 43-101 compliant) resource of 5.1 million tonnes at 1.4g/t of gold is given for the east of the Coldstream deposit. The Deposit is open along its length and at depth and drilling has shown consistency with Iron-Oxide-Copper-Gold (IOCG) type deposits seen on the property.

Other gold zones have been found near the south west of the property including 0.95 g/t gold across 34 meters. One of these zones, the Sanders Zone, has shown results of, 35.65 metre-wide zone averaging 2.1 g/t gold including 4.42 g/t gold over 9.00 m and 4.72 g/t gold over 4.5m and 27.35 metre-wide zone averaging 1.06 g/t gold including 9.23 g/t gold over 2.2 m.

Destiny (Quebec)

The Destiny Project is again owned 100% by Alto Ventures Ltd purchased from Cameco Gold, although again the Company have signed an agreement with Pacific Northwest Capital, where by Pacific Northwest Capital will pay Alto Ventures $200,000, 250,000 common shares of Pacific Northwest Capital, and complete a total of $3,500,000 in exploration expenditures over a four year period to earn a 60% interest in the Destiny Gold property. Subsequent to vesting of its interest, Pacific Northwest Capital will form a joint venture with Alto Ventures to further develop the project.

The DAC deposit within this project is made up of narrow high grade gold-bearing quartz veins within five alteration zones. These zones carry gold at lower grades than the quartz veins but are significantly wider. The structure is though to be similar geologically to the mines surrounding the Cadillac Fault, a geological feature that has released over 100million oz of gold in its history. A recent 43-101 Report that includes a Mineral Resource Estimate for the DAC deposit shows an indicated resource of 364,000 ounces at an average grade of 1.05 g/t gold, and an inferred resource of 247,000 ounces at an average grade of 0.92 g/t gold.

Alcudia (Quebec)

The Alcudia project covers 320 hectares and is again owend 100% by Alto Ventures Ltd. This project is currently on hold.

Chilko (British Columbia)

The Chilko project covers 8,207 hectares and is again owend 100% by Alto Ventures Ltd. This property is located within a very good neighbourhood of operating mines and is host to gold-copper porphyry deposits. Currently in waiting for results of a summer drill program on this project.

Beardmore-Geraldton Gold Belt (Ontario)

The Beardmore-Geraldton Gold Belt is host to a number of projects for Alto Ventures who started aquiring in land there in 2006.

Cote-Archie Lake - Is a property with 860,00 oz of past production and is optioned to Kodiak Exploration Ltd who can earn upto 51% by spending $1 million over 3 years

Three Towers - Is 100% owned by Alto Ventures covers some 1,056 hectares and has returned about 15g/t gold from sampling

Mud Lake - Is 100% owned by Alto Ventures and covers 2,592 hectares and has returned about 8g/t - 50p/t gold from trenching and grab sampling.

Miner Lake - This project has got Alto Ventures excited.  Is 100% owned by Alto Ventures and includes 42 claims covering 672 hectares. Grab sampling has revealed 25 p/t gold. It is a breccia style deposit within an intrusive and is very consistant across length.

There major work next is on the Coldstream property with a February drilling programm planned and then moving to the minor lake project in March. The company are very excited about Minor lake and I can't wait to see the results.

As ever DYOR.

Tuesday, 8 February 2011

Stock: Premium Exploration

Premium Exploration is focused primarily on gold exploration at its land package in Central Idaho. Named the Orogrande Shear Zone it has a big mining history with multiple known gold mineralisation zones detailed below.

This zone has a historic 43-101 compliant inferred gold resource of 549,000 oz is already in the bag and the drills are turning to bring you more of the same. The aim of this next drilling is to approach the 1million gold oz mark.

Buffalos Gulch
This zone has a historic resource of 100,000 oz again 43-101 compliant. Work to create an open pit operation retrieving 25,000-35,000 oz of gold a year has been talked about publicly, but we will have to wait for confirmation on that one.

The land between Friday-Petsite and Buffalos Gulchhas been snapped up by Premium Exploration with an additional 110 claims being staked with the aim of creating mainly open pits. Some drill results would disagree however showing 21.3m averaging 9.9 g/ton gold mineralization and 1.5m of 67.89 g/ton. 
The historic drill results from past exploration of Orogrande Shear Zone have shown a high-grade gold zone that runs along the Orogrande Shear Zone. Along the northern extension, geophysical and geochemical surveys taken indicate the possibility that this  high-grade gold zone may extend along the entire length of the Orogrande Shear Zone.
The purpose of the next phase of drilling is being carried out with the express aim of validating the above geological interpretations. To check that Premium Exploration are hard at work to achieve this goal you just have to look at the recent news!: 

February 8, 2011 
Premium Exploration Drills Third Discovery at Idaho Gold Project: 2.1 g/t Gold Over 20.1 Meters...

January 31, 2011
Premium Exploration Drills 1.5 g/t gold over 134 Meters including 2.5 g/t gold over 47.3 Meters; Resource Remains Open in All Directions and Phase-Four Exploration Update...

January 19, 2011
Premium Exploration Drills 7.0 g/t Gold over 34.4 Meters within 1.5 g/t Gold over 330.4 Meters Continuing Resource Expansion & 100% Drill Success at Friday-Petsite Project...

Overall this is a great company with prospect only just starting to be digested. Along with the above projects Premium Exploration also has some interesting platinum group prospect in Mexico and America. As ever DYOR.

Monday, 31 January 2011

Stock: African Queen Mines


African Queen Mines was spun out from Pan African Mining Corp. (A company hold mining licences in Africa and Madagascar) after it was sold to a large Thai mining company.
African Queen Mines assets include the African continent properties originally owned by Pan African Mining Corp. That is the Botswana and Namibia diamond project and the Mozambique gold project.
In 2008 African Queen Mines started trading, from this time they acquired 3 new gold projects and are currently working to identify there potential.


The King Solomon project in Mozambique is attracting a lot of attention from the majors! From the first round of drilling results show an average of between 1 - 2% copper and 1 - 1.63 gpt gold.
The thing that makes this project unique, is the fact that it covers a large area and includes 4 identified structures, each zone is about 4km by 2km giving strong extensive surface gold anomalies. It appears different geological event produced these anomalies,two showing high gold content and the others are more copper and poly-metallic. Any one of these is currently a target to build a mine assuming the continuity and grade that early results show

The model of operation is to develop these properties to a point where either one, some or all of these properties are to be sold to majors, so as for Pan African Mines a generated profit is returned to the shareholder (Just ask Pan African share holders if they are happy)

The Noyem gold project, has a historic resource of just over 1million oz of just over 6gpt stuff. This is current near surface mineralisation. This project has some political issues currently, but talks are ongoing with the local community concerning mining rights. African Queen are speaking to local chiefs to get over these problems.

On the border bordering Tanzanians north western corner near the lake Victoria green-stone belt (host to some very big mines). African Queen have entered into a joint venture with a Kenyan company to develop the Kanango Goldfields. African Queen are currently planning a diamond drill program and have filed applications for 4000 square km of ground where this trend is though to extend.

Currently found all the right signs including circular anomalies, but nothing found as of yet. The team of geologist include some of the best in there field, despite this African Queen see this project very much as the icing on the cake. Mind you I don’t like cake without icing...

So African Queen have two projects with potential to host world class deposits in active development, proven success in developing and selling well defined economic deposits. They have good access to capital and are progressing at a fast past towards some good resources.

As Always DYOR

Stock: Gold Bullion Devleopment Corp


Gold bullion development corp. is a junior miner that is involved in developing and rehabilitating old producing mines.



The land package, 100% owned in Quebec, called the Granada Gold Property is located on the Cadillac trend which itself is host to many large deposits.

The long bar zone is one of the host zones identified and over the last 3 years Gold bullion development corp have performed bulk samples of about 30000 tonnes to evaluate grade (1.62 gpt).
Gold Bullion Devleopment Corp then worked on compiling the current information about the land package to build a mineralisation model. This model was tested with 2400 meters of drilling, giving a known structure of 1.1km long and 300 meters wide open at all ends.
Currently the zone is host to an estimated 2.4 million ounces of gold, not 43-101 compliant but known to be a conservative. This estimate was calculated through 1 million tonnes of ore sampling, even sampling the waste pile to check the recovery rate (about 90% from tests).
The future work on this resource entails working on extending the structure north, to the unexplored section of the Cadillac trend, then to the east. From this point Gold Bullion Devleopment Corp can prove up the resource via infill drilling with a 20000 meter drilling campaign.
Initially an open pit project it will extended to an underground operation if drilling at depth proves to show mineralisation. With the potential of at depth mineralisation the number of ounces could increase significantly, as from the data available this deposit is showing higher grades at depth.

This mine does not even cover 1% of the land package owned by Gold Bullion Devleopment Corp. (4,900 hectares) and the estimated recovery price per ounce is currently $320 per ounce.

Again DYOR and keep watching.

Friday, 28 January 2011

Stock: Andover Ventures


Andover Ventures are a precious / base metal exploration and development company, with headquarters in Vancouver, British Columbia, Canada. The have very experienced team, who have built large companies in the past and hold a large stake. Gordon Blankstein (Chairman and CEO) and his family have an interest of around $15 million and management in general own about 50% of the outstanding shares, so aligning management interests with shareholders. Andover Resources only looks for politically safe environments for mines, specifically mining friendly states of America.


1) The Utah project is a large land package of around 16000 acres with Rio Tinto funding the exploration.
In the Utah District there are 23 old producing mines (these have produced - 2.3 million oz, 2.2 billion pounds of lead, 250 million pounds of copper, 250 million oz silver) along with a large percentage unexplored land.

The land was Acquired from company via a forced sale because of environmental damage caused in the past. Andover bought the land along with the responsibility to clean up the mess on around 100 acres of this land.

After the clean up the fine was reduced through the courts from an initial $60million to $225 thousand a year for 5 years.

The approach on this land package is to bring back into production the Trixie Mine with its associated mill (Burgin Mill), so the company has cash-flow. Andover Resources is currently hiring mine/mill workers activate this plan. Initial production will involve working with material stockpiled on surface (45 hundred oz of gold estimated) while the company works on rehabilitating the Trixie Mine with the goal of processing 200-250 tonnes a day. From this Andover hope to produce about 10,000 oz of gold a year at a fairly low cost.

Then next the Burgin mine a relatively high grade mine will be focused on. As an aside and to generate further cash-flow, a limestone mountain on the companies property is being exploited

2) The Alaska District is another large land holding of about 18000 acres which currently doesn't have road access  but plans are being discussed. This huge asset open in all directions and depth and the plan is build up the asset over the years as the road access is sorted.

To sum up, the managment has proved success and a lot of skin in the game. Andover is already found resources but are also exploring for more. The are activley involved in major works on there ground proving resources with a major providing the funding for exploration. Ore in the ground has avalue about £10 billion but as we know, that mean nothing untill sconomic and feasability studies are complete, but I am optimistic.

Monday, 24 January 2011

Stock: Magellan Minerals Ltd

Megellan Minerals is a mineral junior focused on the state of Para in northern Brazil. Founded as a private company initially in 2005 and going public in 2008, the company has interests in a number of projects some containing large near surface mineralisation. 

Still An early stage play but at the site of one of the largest gold rushes ever (from 1978 - 1995) the deposit looks exciting. With most of the easy alluvial gold gone (25-30million ounces) to target is now the source rock from which this gold was released from. 

After good drill results a very good land position and size and a wealth of experience in the region (15 years)
the projects look good enough for Newmont Mining(4%) and Kinross Gold(2%) to be significant shareholders although nowhere near having control. As a side note it is very rare for these big boys to take a straight investment in a company without an interest in the companies projects so they must see something good or very sure.

At one stage they were looking to buy and work a small open pit operation with suspected good mineralisation to generate cashflow for exploration. As part of due dillagence however they discovered that only parts of the quarts veins were mineralised so decided not to proceed. This upset the market but even though it was a good decision.

They have two advanced projects, Coringa with an initial resource of 37000 troy oz of gold of about 9gpt stuff, with the main vein currently about 7km long (open at both ends). The current strike length is about 10km and Alan Carter says "This could easily double".  The other project Cuiu Cuiu, where about 8 thousand soil samples have been taken showing very large gold anomaly about 12km long. 5 separate anomalies have been identified within this structure. Alan Carter says this has an "excellent potential to host multiple ore bodies". From drilling such results as 220meters at 2.3gpt, and 17meters at 13gpt.

Both deposits are looking to be world class open pit operations and I will be watching this one very closely.