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Showing posts with label TSX Venture Exchange. Show all posts
Showing posts with label TSX Venture Exchange. Show all posts

Wednesday, November 20, 2013

Brigus Gold is on a roll into 2015






If you are looking for a growing, junior gold miner, that makes profit, is growing it's margin, and resource base, while reducing overall costs of production, look no further than Brigus Gold.

In Q3 Brigus produced a record 22,000 oz and is on track to exceed 100,000 oz producion per year for the forseeable future.  Resource base has grown to over 2 million oz.

In October drilling at the Black Fox Mine site hit a whopper of a result at 18.09 grams per ton over 39.60 metres, including 39.45 g/t over 10.35 metres. This, in an industry where 3g/t is considered mineable.


That result occured only 2 weeks after hitting a previous whopper of  40.71 gpt Gold Over 26.75

Both if these occured at Brigus's producing Black Fox Mine.  At the same time they began hitting great results at thier Grey Fox property as well.

Although headquartered in Halifax Nova Scotia, Brigus mines are situated in the Timmons Ontario gold district which has been one of the most prolific gold producing regions of the world for decades.  Brigus is an anomaly in the junior gold space. Why? Because it has a working gold mine, it produces gold, is profitable and it is growing.
Brigus Gold Corp  Today - .70c per share
Market Cap$167.8MBeta0.98
Revenue (TTM)$144.1MEPS$0.10
Shares Out.232.1MBook Value$1.05
Dividend Yield0.00%P/E7.4x
Annual Dividend Rate$0.00Price/Sales (TTM)1.2
Ex-Div Date1/1/01P/Cash Flow (TTM)2.7x
Pay Date1/1/01Operating Margin14.79%


If you are in the market for a junior gold miner, you should consider Brigus Gold, before the share price catches fire, because I believe it surely will.

Hope you have great results with your Retirefunds.

HP

Friday, September 7, 2012

TNR Gold confirms Mineralization at Shotgun Ridge Drilling in Alaska

TNR Gold Completes Drill Program, Confirms Mineralization Model And Expands Target Area At The Shotgun Gold Project In Alaska (prnews)

VANCOUVER, British Columbia, Sept. 6, 2012 /PRNewswire/ -- TNR Gold Corp. (the "Company") (TSXV: TNR) is pleased to announce the successful completion of the 2012 exploration drilling and geophysical program on its 100% owned Shotgun Gold Project in Alaska. The 30-day exploration program included 814 metres of drilling in three holes. The geological features observed in the drill core confirm down-dip and along strike extensions of feeder zones discovered in earlier drilling campaigns.

Geophysical surveys that helped to identify the feeder zones were expanded along the ridge and elsewhere within the property during the 2012 work program to guide future drilling.

Drill Program Highlights
Three drill holes totalling 814 metres were completed on the Shotgun Ridge prospect. The drilling was designed to extend the mineralized feeder zones identified in drill hole 06-43 down-dip and along strike. Diamond drill hole 06-43 intersected 210 metres grading 1.3 g/t Au (grams per tonne gold). Higher-grade intervals, within this zone defined the position of structurally controlled feeder zones. The geology, sulphide mineralization and structural features encountered in the 2012 drilling are similar to that found in 06-43. Geochemical assay results are pending.

The feeder zone associated with the higher-grade assays in hole 06-43 was intersected in all three drill holes providing the Company with greater confidence in extending this zone along strike and to depth with further drilling.

"It is encouraging that we see continuity of the intrusive breccia in all three 2012 drill holes. DDH 12-57 was drilled approximately 50 metres NW of 06-43 and both 12-58 and 12-59 were collared approximately 30 metres behind 06-43, intersecting the targeted zone as much as 100 metres down-dip. These results confirm that the structural feature believed to host some of the better mineralization at Shotgun Ridge is continuous over some distance and correlates well with the ongoing interpretations of the geophysics thus is clearly open at depth." comments John Harrop, VP Exploration.

Geophysical anomalies that were interpreted as structural corridors hosting mineralization in the 2011 three-dimensional IP/resistivity survey data were found to be coincident with the interpreted mineralized feeder zones. Additional three-dimensional IP/resistivity surveys were carried out in the 2012 program to expand and further define the correlation between geophysical response and mineralization.

Geophysical Survey Highlights
Following the successful application of three-dimensional IP/resistivity surveys in 2011, SJ Geophysics Ltd. collected three additional grids during the 2012 field season. One grid was centred on a surface geochemical gold anomaly at the Winchester prospect, the southernmost target area along a 35 kilometres discontinuous mineralized trend running south from Shotgun Ridge.

Two other grids were designed to extend the 2011 survey at Shotgun Ridge. The data were collected in a manner where they could be merged with the 2011 surveys and modelled in three dimensions to produce a single comprehensive three-dimensional model of chargeability, resistivity, geology and geochemistry to be used for further target delineation. The geophysical data are being processed and results of the merged surveys are pending.

About the Shotgun Gold Project

TNR holds a 100% interest in the Shotgun property located 175 kilometres south of Donlin Creek within the Kuskokwim Gold Belt in southwestern Alaska. This area is emerging as a world-class gold district hosting more than 40 million ounces of aggregated gold resources. The Shotgun property includes a number of prospects, including Shotgun Ridge and nearby Winchester. Donlin is an intrusion-associated system and represents one of the largest undeveloped gold deposits in the world. The Company believes that there are several key similarities between prospects on the Shotgun property and that of the Donlin Creek gold deposit as well as other important intrusion-associated deposits.

John Harrop, PGeo, FGS, a Qualified Person for TNR Gold Corp. as defined by NI 43-101 has reviewed the technical information contained in this report.

About TNR Gold Corp.
Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR's recently listed subsidiary, International Lithium Corp. (TSX: ILC.V), demonstrated the successful application of TNR's business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects.  Ganfeng Lithium Co. Ltd. is a leading China based multi-product lithium manufacturer and strategic partner and investor in ILC. TNR remains a large shareholder in ILC at 25.5% of outstanding shares.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNR's commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

On behalf of the board,Gary SchellenbergPresident

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. Symbol: TNR:TSXVCUSIP: #87260X 109SEC 12g3-2(b): Exemption #82-4434
620 - 650 West Georgia StreetVancouver, British ColumbiaV6B 4N9, Canada Voice: (604) 687-7551Fax: (604) 687-4670 1-800-667-4470Caroline KlukowskiE-mail: ck@trngoldcorp.com

Website: http://www.tnrgoldcorp.com
SOURCE TNR Gold Corp.
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Thursday, March 1, 2012

Rodinia Lithium Clayton Valley Nevada project moves forward

Rodinia Lithium Corp
TSX-RM   Nasdaq-RDNAF
  • BLM HAS CONDITIONALLY APPROVED RODINIA’S PLAN OF OPERATIONS PERMITTING ADDITIONAL DRILLING IN CLAYTON VALLEY, NEVADA
  • PLAN OF OPERATIONS OUTLINES A DRILL PROGRAM WITHIN  A SOUTHERN VALLEY TRENCH WHERE HIGHER LITHIUM CONCENTRATIONS MAY BE FOUND AS A POTENTIAL EXTENSION OF AQUIFERS  INTERSECTED IN PREVIOUS DRILLING FURTHER NORTH AND ADJACENT TO THE NEIGHBORING SILVER PEAK LITHIUM PRODUCING OPERATION
  • BLM WILL NOW SOLICIT PUBLIC COMMENT ON THE PLAN OF OPERATIONS
  • RODINIA HAS COMMISSIONED AN ENVIRONMENTAL ASSESSMENT AS REQUIRED UNDER THE NEPA THAT MAY FORM PART OF THE PUBLIC COMMENT PROCESS
Toronto, Canada, March 1, 2012: Rodinia Lithium Inc. (“Rodinia” or the “Company”) (TSX-V: RM; OTCQX: RDNAF) is pleased to announce that it has received confirmation that the Plan of Operations (“PoO”) submitted by the Company’s US subsidiary, Donnybrook Platinum Resources, Inc., in respect of Rodinia’s wholly owned Clayton Valley lithium-brine project, meets the content requirements as determined by the Bureau of Land Management’s (“BLM”) Tonopah Office in Tonopah, Nevada, USA.
William Randall, Rodinia’s President & CEO, commented, “We are extremely pleased to have received this confirmation from the BLM and to once again be in a position to start planning and moving ahead with our much anticipated exploration program in Clayton Valley.  We intend to resume drilling once the Environmental Assessment and public comment period are complete with the intention of delineating a lithium brine resource in the southern trench that extends the length of our southern claim package.”
EPG Inc., environmental consultants out of Phoenix, Arizona, have been commissioned to complete an Environmental Assessment (“EA”), which will address specific issues as required under the National Environmental Protection Act (“NEPA”).  Concurrently, or as part of the EA, the PoO will be posted for a 30-day public comment period and will address public concerns.  A meeting to discuss the NEPA requirements has been set for Tuesday, March 6th, at 9:30 AM between the Company and BLM.  Further information regarding the process will be communicated to the public following this meeting.
The Project is supervised by Ray Spanjers, Rodinia’s Manager of Exploration.  Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release.
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America.  The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia’s Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent.  The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada’s lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit.  The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia’s Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.
Please visit the Company’s web site at www.rodinialithium.com or write us at info@rodinialithium.com
For further information please contact
Investor Cubed Inc.
Investor Relations                                                                                          
Tel: +1 (647) 258-3311

Aaron Wolfe
Vice-President, Corporate Development
Tel: +1 (416) 309-2696
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the anticipated timing with respect to the acceptance of the POP; anticipating timing with respect to receipt of various approvals required in order to proceed with the POP; ; the potential of the Diablillos property; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements.  Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Monday, November 7, 2011

Rodinia Lithium Receives Positive Preliminary Economic Assessment

Rodinia Lithium Receives Positive Preliminary Economic Assessment for the Diablillos Lithium Brine Deposit With NPV of Up to US$964 Million and IRR of 36% 

Today - by Marketwire 

Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE: RM)(OTCQX: RDNAF)

is pleased to announce the results of the Preliminary Economic Assessment ("PEA") completed on its 100% owned Salar de Diablillos lithium brine project ("Diablillos" or "Salar") located in Salta Province, Argentina. The PEA outlines an operation producing 15,000 tonnes lithium carbonate ("LC") per year and approximately 51,000 tonnes of KCl ("potash") per year, projecting a 34% internal rate of return ("IRR") pre-tax and a US$561 million pre-tax net present value ("NPV") at an 8% discount rate. The PEA also outlines Rodinia's available option to increase production to 25,000 tonnes LC and 85,000 tonnes potash per year. This increased production scenario generates a much higher pre-tax NPV estimate of US$964 million, along with a pre-tax IRR of 36%. Rodinia continues to advance the technical and processing aspects of the Salar and will commence a feasibility study once the PEA report is finalized. 

The PEA was completed by SRK Consulting (U.S.) Inc ("SRK") located in Lakewood, Colorado and is effective as of November 1, 2011. The brine resource model and resource estimate were provided to SRK by Paula Larrondo, Principal Geologist, P.Geo., of AMEC Internacional Ingenieria y Construccion Limitada, Santiago, Chile, Qualified Person ("QP") for the Company's NI 43-101 compliant recoverable lithium brine resource estimate. The complete PEA report will be filed on SEDAR and Rodinia's website within 45 days of this news release. 


The table below outlines the key findings of the PEA: 



Preliminary Economic Assessment Highlights (All currency is US$, pre-tax)
----------------------------------------------------------------------------
                                          15,000 tpa LC       25,000 tpa LC
----------------------------------------------------------------------------
NPV at 8% discount rate (pre-tax)     $     561 million   $     964 million
----------------------------------------------------------------------------
IRR (pre-tax)                                        34%                 36%
----------------------------------------------------------------------------
Total Initial Capital Costs           $     144 million   $     220 million
----------------------------------------------------------------------------
Operating Costs per tonne LC(i)       $           1,519   $           1,486
----------------------------------------------------------------------------
Operating Costs per tonne LC with
 potash and boric acid credits        $            (703)  $            (762)
----------------------------------------------------------------------------
Operating Costs per tonne KCl(i)      $             170   $             160
----------------------------------------------------------------------------
Average annual free cash flow(i)      $      89 million   $     150 million
----------------------------------------------------------------------------
Mine life                                           20+                 20+
----------------------------------------------------------------------------
Annual production rate of potash(i)              51,000              85,000
----------------------------------------------------------------------------
Annual production rate of boric
 acid(i)                                         18,000              31,000
----------------------------------------------------------------------------
Projected commencement of production               2015                2015
----------------------------------------------------------------------------
Years to payback                              1.6 years           1.5 years
----------------------------------------------------------------------------
(i) Averaged using years of full production, discounting ramp up period.

The PEA is preliminary in nature, includes inferred brine resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the estimates of the PEA will be realized.
William Randall, President & CEO of Rodinia, commented "This PEA is the product of quality work completed on schedule by Rodinia's expert staff and consultants. The PEA demonstrates that Diablillos has the potential to be a low cost producer of high purity, battery-grade, lithium carbonate, potash and boric acid using conventional, environmentally friendly methods to harvest the salts. Due to the favourable geochemistry of the brines, our potash and boric acid production is such that revenue from the sale of these products will result in credits in excess of US$3,500/tonne of LC, more than covering our total anticipated production costs. As long as prices for potash and boric acid remain at today's levels or higher, Diablillos has the potential to remain price competitive down to historic lows for lithium carbonate pricing."

Financial Sensitivity at Various Discount Rates (US$ millions over 20
years)(i)
----------------------------------------------------------------------------
                              10,000 tpa  15,000 tpa  20,000 tpa  25,000 tpa
Discount rate\Output                  LC          LC          LC          LC
----------------------------------------------------------------------------
6%                                   462         716         971       1,225
----------------------------------------------------------------------------
8%                                   361         561         764         964
----------------------------------------------------------------------------
10%                                  283         442         604         765
----------------------------------------------------------------------------
12%                                  223         350         481         610
----------------------------------------------------------------------------
(i) At an average LC price of US$5,500 per tonne. All figures are pre-tax.
Financial Sensitivity at Various LC Prices (US$ millions over 20 years)(i)
----------------------------------------------------------------------------
Price\Output      10,000 tpa LC  15,000 tpa LC  20,000 tpa LC  25,000 tpa LC
----------------------------------------------------------------------------
US$5,000                    322            503            686            868
----------------------------------------------------------------------------
US$5,500                    361            561            764            964
----------------------------------------------------------------------------
US$6,000                    399            619            841          1,060
----------------------------------------------------------------------------
US$6,500                    438            677            918          1,157
----------------------------------------------------------------------------
(i) At an 8% discount. All figures are pre-tax.

The Salar has favourable economic potential across a range of discount rates, annual production rates, and long-term LC prices. In all cases the Salar shows robust economics consisting of large NPV values and significant positive cash flows, which position it favourably relative to other PEA reports issued for salars at a similar stage of development in the Puna region of South America.
Will Randall elaborated on the preliminary economics of the Salar, "We are pleased with the results and initial conclusions of this PEA. While the assessment estimates robust economics with first quartile capital and operating costs, we gained considerable insight to further improve on these already favourable numbers. We will look to validate these opportunities during the Feasibility Study phase, which will commence once the PEA report is finalized." 

Economic Parameters and Assumptions
The PEA presents a base case operation producing 15,000 tonnes of battery grade lithium carbonate per annum and 25,000 tonnes of battery grade lithium carbonate in the optional production scenario. First production levels of 9,000 tpa LC (15,000 tpa LC for optional production) are expected to be reached after three years of mine construction and pre-production, with full production levels reached two years later. Allowing a further year for the completion of a Feasibility Study, the PEA contemplates initial production by 2015. Management will begin to evaluate methods in which feasibility level engineering and mine construction can be combined to expedite this production timeline. In particular, management will focus on construction of pilot ponds that will subsequently be employed in the commercial production circuit.
Details and Assumptions 

Total initial capital expenditures (including contingency) are estimated at US$144 million to produce 15,000 tpa LC and US$220 million to produce 25,000 tpa LC. The initial capital cost estimate excludes closure costs and sustaining capital. Sustaining capital requirements for years 1 to 20 of operation (15,000 tpa LC) were estimated to be approximately US$80 million including wellfield maintenance and replacement.

-----------------------------------------------------------------------
-----
                                              15,000 tpa LC    25,000 tpa LC
Summary of Estimated Initial Capital Costs   (US$ millions)   (US$ millions)
----------------------------------------------------------------------------
Wells & Ponds
----------------------------------------------------------------------------
  Wellfield                                               8               11
----------------------------------------------------------------------------
  Ponds                                                  57               94
----------------------------------------------------------------------------
  Other (wellfield & pond)                               11               16
----------------------------------------------------------------------------
  Contingency (20%)                                      15               24
----------------------------------------------------------------------------
LC Crude Plant & Refinery
----------------------------------------------------------------------------
  Plants                                                 17               25
----------------------------------------------------------------------------
  Other (carbonate plant)                                 9               12
----------------------------------------------------------------------------
  Contingency (20%)                                       5                7
----------------------------------------------------------------------------
Potash Floatation Plant
----------------------------------------------------------------------------
  Plant                                                  19               26
----------------------------------------------------------------------------
  Contingency (20%)                                       4                5
----------------------------------------------------------------------------
TOTAL                                                   144              220
----------------------------------------------------------------------------

Mine construction for a 15,000 tpa LC production facility requires the installation of 23 production wells, approximately 7 square kilometers of evaporation ponds for the production of lithium carbonate, potash and boric acid. At 25,000 tpa LC, the requirements increase to 53 production wells and 11.5 square kilometers. While the wells, evaporation ponds and potash plant are designed to be constructed on the Diablillos property, the current design contemplates constructing the boric acid and lithium carbonate plants off-site at an industrial park in Pocitos. Cost analysis performed on the various options, taking into account capital costs requirements and operating costs, indicated constructing the lithium carbonate and boric acid facilities where access, natural gas, and power are readily available presented considerable cost savings across the board.
A conservative pumping rate of 11 litres per second was employed for this study based on field test work. It is important to note that numerical groundwater flow and solute transport modeling, constraining well drawdown and accounting for dilution impacts on brine chemistry, has demonstrated that higher extraction rates can be achieved from the sand and gravel aquifers predominant at Diablillos. Once further tests are completed on production size wells management expects the estimated capital expenditures required for well construction to be significantly reduced. Pond construction considers an initial unlined pond, where brine is brought to saturation, followed by a series of subsequent lined ponds. There is natural clay occurring on or near Diablillos that will allow for construction of the initial ponds, offering cost savings over lined ponds. Any brine losses experienced in this unlined pond go straight back into the underlying Salar sediments and can be potentially recovered at a later date. 

The total average operating costs over 20 years are estimated to be negative at (US$703) per tonne LC once the potash and boric acid credits are applied, based on the following:

-----------------------------------------------------------------------
-----
Summary of Estimated Operating                                        (US$/t
 Costs                                (US$/t LC)    (US$/t KCl)  Boric Acid)
----------------------------------------------------------------------------
Wells & Ponds (total)                        408             46           85
----------------------------------------------------------------------------
  Brine transportation                       104             12           22
----------------------------------------------------------------------------
  Reagents                                   242             27           51
----------------------------------------------------------------------------
  Energy                                      49              6           10
----------------------------------------------------------------------------
  Labour                                      10              1            2
----------------------------------------------------------------------------
  Other                                        4              0            1
----------------------------------------------------------------------------
LC Crude Plant & Refinery (total)            972              -          203
----------------------------------------------------------------------------
  Reagents                                   791              -          165
----------------------------------------------------------------------------
  Energy                                     136              -           28
----------------------------------------------------------------------------
  Labour                                      37              -            8
----------------------------------------------------------------------------
  Other                                        9              -            2
----------------------------------------------------------------------------
Potash Flotation Plant (total)                 -             73            -
----------------------------------------------------------------------------
  Reagent                                      -              1            -
----------------------------------------------------------------------------
  Energy                                       -             64            -
----------------------------------------------------------------------------
  Labour                                       -              7            -
----------------------------------------------------------------------------
  Other                                        -              1            -
----------------------------------------------------------------------------
G&A                                           82              9           17
----------------------------------------------------------------------------
Transport                                     56             42           42
----------------------------------------------------------------------------
TOTAL                                      1,519            170          348
----------------------------------------------------------------------------
TOTAL LC w/ credits & royalty
 deductions                                 (703)
----------------------------------------------------------------------------

Well and pond costs as well as G&A costs were assigned to all three products according to the percentage of revenue generated by each commodity. Potash plant costs were assigned exclusively to potash and LC plant costs were distributed between lithium carbonate and boric acid, as both of these are produced in the same plant complex. By far the largest expense is the cost of reagents, and in particular soda ash and lime, followed by transportation costs. 

Consistent with practice in the industry, this PEA has been prepared with an engineering accuracy of +/- 30%. As the project progresses through the feasibility stage, advancement in the detail of engineering will improve the accuracy to approximately +/-15%. The PEA used commodity pricing provided by Rodinia that was assembled from various studies and sources, including industry leading reports and forecasts provided to the Company through its relationship with Forbes & Manhattan Inc., access to industry specialists (boric acid), and generally accepted industry standard pricing based on recently completed studies similar in nature to this PEA. The PEA assumed long-term commodity prices of US$5,500 per tonne LC, US$620 per tonne potash, and US$1,150 per tonne boric acid. 

PEA Report
The PEA was prepared in accordance with the guidelines of National Instrument 43-101 by the independent engineering firm SRK Consulting Limited with contributions from AMEC Internacional y Construccion Limitada ("AMEC") of Santiago, Chile, and Mr. Robert Cinq-Mars of North Carolina, USA (whose work experience includes 20 years with FMC Lithium Division as Manager, New Resources and Process Development). SRK is a leading full-service engineering and consulting firm. The final PEA technical report will be filed on SEDAR within 45 days. 

Description of Proposed Operation
The proposed operation for Diablillos will largely make use of conventional evaporation based processing, similar to those employed at Silver Peak (Nevada, USA) and Atacama (Chile). The brine is to be pumped from subterranean aquifers by a series of production wells to an initial unlined evaporation pond. The proposed lithium recovery process is a combination of solar evaporation steps, in-field brine treatment, by product potash ("KCl") and boric acid recovery and chemical processing to produce lithium carbonate. The process results in a high lithium recovery of approximately 65%. The process contemplates a series of six ponds from largest to smallest, where the largest is used to bring brine to saturation and is designed to be unlined reducing the capital cost of pond construction. Sylvinite is to be harvested from the third pond, which is proposed to be subsequently upgraded through a conventional floatation process to muriate of potash. Brine extracted from the final pond will have a concentration of approximately 12% lithium chloride and will be transported to the treatment facility in Pocitos, where boric acid and lithium carbonate are produced. For further details please refer to the press release dated October 11, 2011. 

Groundwater and Solute Transport Modeling
SRK evaluated potential brine extraction for Diablillos to produce lithium carbonate, potash and boric acid. This modeling was based on the resource estimate conducted previously by AMEC (please refer to the press release dated April 11, 2011), and on work completed more recently by Rodinia and SRK; in particular the completion of pumping tests and additional drilling. The work was completed based on the development of 3-D numerical groundwater and solute transport models and included the assessment of:

--  The number of extraction wells needed to meet production targets, their
    locations, total pumping rates and the subsequent drawdown in
    surrounding areas

--  Expected changes in lithium, potassium and boron concentrations within
    the extracted brine over time given possible surface water dilution and
    dilution from surrounding areas containing lower concentrations of these
    components

SRK completed the numerical modeling using MODFLOW-2005 (groundwater flow) and MT3DMS (solute transport) finite-difference codes that are supported by Visual MODFLOW software (SWS, 2010).
Analyst and Shareholder Conference Call
Rodinia will host a conference call at 8:30 AM Eastern Standard Time on Tuesday, November 8, 2011 to discuss the PEA results. To participate in the call please dial the following:
International:                +1 (416) 340-2217
Toll Free North America:      1-866-696-5910
Participant Code:             4326413

To register and listen to the webcast of the call, please go to Rodinia's website at www.rodinialithium.com. 

Qualified Person
The PEA was prepared under the supervision of Mr. Terry H. Braun, with SRK. Mr. Braun relied on the independent QP contributions of Ms. Paula Larrondo (brine resource), Mr. Bob Cinq-Mars (process design) and Dr. Vladimir Ugorets (brine extraction modeling). Mr. Braun is an independent Qualified Person as defined by NI 43-101 and Mr. Braun is independent of Rodinia. Mr. Braun has reviewed and is responsible for the technical information contained in this news release. 

About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process. 

Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study. 

The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43-101.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com. 

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Investor Cubed Inc.
Investor Relations
+1 (647) 258-3311

Rodinia Lithium Inc.
Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696
info@rodinialithium.com
www.rodinialithium.com


SOURCE: Rodinia Lithium Inc.
mailto:info@rodinialithium.com
http://www.rodinialithium.com
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Friday, November 4, 2011

TNR Gold Corp. Options 100% Interest in Iron Ore Project, Northwestern Ontario

TNR Gold Corp.
TNR Gold Corp.  (.05c)

TSX VENTURE EXCHANGE:

November  2011



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company") is pleased to announce that the Company has entered into a purchase option agreement (the "Agreement") on the acquisition of the Soules Bay Iron Ore project.
Key Highlights:
  • Readily accessible: proximal to highway, power and rail;
  • 12kms of highly magnetic iron formation strike length contained within the Property;
  • Partially overlapping and adjacent to the west is a historical reserve* of 628 million tonnes grading 23.1% soluble iron**;
  • 94.5 metre composite 1957 drill sample reports 24.9% soluble iron within and near the western boundary of the Property;
  • Iron formation extending to the west has witnessed considerable exploration while limited exploration performed within Property boundary on same-trend magnetic anomaly; and
  • The Company to acquire 100% interest.
"The acquisition of the Soules Bay Iron Ore project, encompassing 12 kilometres in strike length of a more extensive iron formation known to host a significant historical reserve, represents a remarkable opportunity for TNR to become a key player in the exploration and potential development of Canadian based Iron projects," states TNR President and CEO Gary Schellenberg.

A comprehensive exploration program consisting of a high resolution airborne magnetic survey, geologic mapping/prospecting and subsequently diamond drilling is planned to be performed throughout the Property along the extent of the highly prominent iron formation.

Under the terms of the Agreement, TNR will acquire a 100% interest in the Property by making aggregate cash payments of $99,065 and issuing an aggregate of 150,000 common shares over a four year period to the Optionor. The Optionor retains a 2% net smelter return royalty on the Property subject to TNR's right to purchase one-half (1/2) of the two percent (2%) for $1 million at any time. The Agreement is made between the Company and Perry English of Souris, Manitoba, an authorized agent for Rubicon Minerals Corporation (TSX:RMX) (the "Optionor").

The Agreement is subject to TNR obtaining approval from the TSX Venture Exchange.

Soules Bay Property
The 1904-hectare Property is located approximately 310 kilometres north of Thunder Bay and 45 kilometres south of Pickle Lake in northwestern Ontario. Provincial Highway 599, originating off the Trans-Canada Highway 17 from the town of Ignace to Pickle Lake, passes less than 300 metres southeast of the Property. An electrical grid is situated just east of the Property and a railway line is located approximately 96 kilometres south at Savant Lake station on Highway 599.

The Property occurs within the eastern Lake St. Joseph Greenstone Belt in the Uchi Subprovince of the Superior Province of the Canadian Shield. The main target area consists of a banded iron formation of considerable extent of which 12kms of strike length is contained within the Property limits. The on-strike extension of the iron formation, partially overlapping, adjacent and to the west of the Property, has witnessed considerable exploration by Steep Rock Iron Mines Ltd. ("Steep Rock") from 1957-1961 reporting a historical indicated reserve* of 628 million tonnes averaging 23.1% soluble iron** yielding a concentrate averaging 67.6% soluble iron signifying an 84.8% recovery at a concentration ratio of 3.4:1; or 29.3 weight percent (Goodwin 1965 and Taylor et al. 1972).

One of the 1957 drill holes (hole #2) utilized in the 1960 Steep Rock reserve calculation, situated within and proximal to the Property's western boundary, reported a 94.5 metre composite sample grading 24.9% soluble iron yielding a concentrate of 68.8% soluble iron signifying an 82.7% recovery at a concentration ratio of 3.3:1; or 29.9 weight percent.

The vast majority of the 12 kilometre long iron formation within the Property remains untested.
Ike Osmani, M.Sc., P.Geo., is the Qualified Person (QP) as defined in National Instrument 43-101Standards of Disclosure for Mineral Projects and is responsible for the preparation of all technical information contained in this news release.

*The geology and assay results quoted above are from various historical reports and have not been verified by the Company. A Qualified Person (QP), as defined in NI 43-101, has not done sufficient work to classify this historical estimate as current mineral resources. TNR is not treating the historical estimate as current mineral resources, as defined in NI 43-101, and thus the historical estimate should not be relied upon. Furthermore, because no recent work has been done to evaluate the economics of the deposit, there is no guarantee that the quoted historic "reserve" figure is potentially economic. Economic studies done in 1960 do not mean the mineralized iron deposit would be found to be economic today. In accordance with NI 43-10, Sec 2.3 (2), the reader is cautioned that the estimate of the potential quantity and grade for the deposit is conceptual in nature and that there has not been sufficient exploration in this instance to define a current mineral resource nor is there certainty that further exploration will delineate the target as a mineral resource.

**Soluble iron is that partial component of total iron content that is acid (i.e. aqua regia) soluble. For clarification, the iron in iron oxides is classified as acid soluble, whereas iron-bearing silicates represent an example of material categorized containing insoluble iron.

About TNR Gold Corp.
TNR is a diversified international mineral exploration company focusing on the advancement of existing properties and identifying and acquiring new prospective projects. TNR has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, is now held by TNR's recently listed subsidiary, International Lithium Corp. (TSX VENTURE:ILC). TNR remains a large shareholder in ILC at 28% of outstanding shares.

The recent acquisition of lithium, other rare metals, rare-earth elements and iron ore projects in Argentina, Canada, USA and Ireland confirms TNR and ILC's commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,
Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information


TNR Gold Corp.
Gary Schellenberg
President
(604) 687-7551 or Toll Free: 1-800-667-4470
(604) 687-4670 (FAX)
info@tnrgoldcorp.com
www.tnrgoldcorp.com
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Wednesday, October 26, 2011

Rare Earth Elements discovered by TNR Gold Corp.

TNR Gold Corp.TNR Gold Corp.

TSX VENTURE : TNR




October 25, 2011 10:13 ET

TNR Gold Corp.: Preliminary Results at Seabrook Niobium-Rare-Earth Elements Property



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2011) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company") is pleased to announce the Company has completed preliminary work at the Seabrook Niobium and Rare Earth Elements ("REE") Property (the "Property") in northern Ontario.
Key Highlights:
  • Preliminary analyses confirms significant historical REE grades;
  • 45% of samples report >0.20% TREO;
  • Cerium, Neodymium, Lanthanum and Niobium oxide grades range up to:
    3,233 ppm Ce2O3, 1,779 ppm Nd2O3, 1,163 ppm La2O3, and 1,903 ppm Nb2O5; and
  • Preliminary soil orientation survey completed, awaiting results.
"We are encouraged by the rare-earth element levels and the corroboration of historical results reported from this initial sampling program," states Gary Schellenberg, President and CEO of the Company. "This was the first step in a fully warranted comprehensive evaluation of the multi-commodity potential of the Property."
Seabrook Niobium – Rare-Earth Elements Project Update
Results from 22 geochemical and mineralogical characterization samples (grab samples*) are consistent with historical work by exploration companies and published work by Ontario government geologists. The following table summarizes samples containing greater than 0.20% Total Rare-Earth Oxides + Yttrium ("TREO+Y").
Sample ID TREO% CeO2 ppm Nd2O3 ppm La2O3 ppm Nb2O5 ppm
16205 0.71 3233 1779 1163 594
16204 0.48 2026 1065 842 1903
16206 0.42 1851 799 903 302
16222 0.31 1242 549 634 436
16207 0.28 1283 702 365 144
16203 0.28 1236 500 585 388
16211 0.27 1277 552 568 346
16216 0.25 1032 545 486 104
16209 0.24 1113 367 620 396
16208 0.24 1089 321 677 714
The Seabrook Carbonatite Complex hosts Niobium and Rare-Earth Element mineralization with Light Rare-Earth Elements (LREEs) dominating. LREEs account for 94% of TREO+Y in samples with ≥0.20% TREO+Y. Three LREEs account for approximately 84% of TREO+Y in samples with ≥0.20% TREO+Y. These are Cerium (~44%), Neodymium (~20%) and Lanthanum (~20%).

This initial survey of the property was conducted under the supervision of Dr. Frederick Breaks, P. Geo., and the Company's special advisor on Rare - Earth Element ("REE") exploration. Further mineralogical work is underway. Subsequent to the identification of historical workings in the hematite alteration zone an orientation soil survey was conducted in this area. Results of the soil survey are pending.

*Note: grab samples are by definition selective and are unlikely to represent average grades on the property.

About the Seabrook Project
The Seabrook Project is located 100 kilometres northeast of Sault Ste. Marie in northern Ontario, covers 512 hectares and is accessible year round. The property encloses the Seabrook Carbonatite Complex which forms the area of prospective geology. Access to the property is by major paved highways with the final 10 kilometres on unpaved forest service road. Electrical transmission lines cross the southwest corner of the property.

The Seabrook Carbonatite is approximately 1.5 x 2.5 kilometres in area and elongated along a north-south trend forming a tadpole shaped complex consisting of sovite and silicocarbonatite in the bulbous northern portion and ijolite in the tail to the south. The entire complex is enveloped by a well developed aureole of fenitized granitic rocks.

Limited historical exploration of the Seabrook Carbonatite has indicated significant REE potential. In 1955, W. Bussineau reported 4 grab samples* grading 0.6, 1.5, 4.7 and 10.3% Nb2O5. In 1971, Canpac Minerals Ltd. and Gunnex Ltd. reported grab samples grading up to 0.90% Nb and outlined 3 areas of high Nb values that were never followed up by drilling. In 1977, as part of a geological survey of the Chapleau area for the Ontario Division of Mines, Thurston et al published data on a sample from a hematite-rich carbonate rock estimated to cover a 90m by 90m area and grading 0.47% Ce2O3 and 0.22% La2O3 where only those two Rare-Earth Elements (Ce and La) were analyzed.

Mr. John Harrop is the Company's qualified person on the Seabrook Project and as required under NI 43-101 and has reviewed the technical information contained in this press release.

Terminology used in this News Release
REE (Rare-Earth Element): any of Lanthanum (La), Cerium (Ce), Praesodymium (Pr), Neodymium (Nd), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm), Ytterbium (Yb) and Lutetium (Lu) which form the Lanthanide series. Yttrium (Y) is also included as a REE.

TREO (Total Rare-Earth Oxides): The chemical component each REE is often given as an oxide rather than simple element. The combined total of La2O3, CeO2, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3 and Lu2O3 is given as an aggregate grade summary. TREO+Y indicates Y2O3has been included in the aggregate.
LREE (Light Rare-Earth Element): Elements Lanthanum to Europium
HREE (Heavy Rare-Earth Element): Elements Gadolinium to Lutetium and Yttrium.
RM (Rare Metal): A number of metallic elements not included in other groups such as REE, precious metals, base metals, etc. Although Rare Metals are not as rigorously defined as other groups and have quite different chemistry, they generally include Li, Be, Rb, Cs, Zr, Nb, Hf and Ta. Other elements are sometimes included.

ABOUT TNR GOLD CORP.
TNR is a diversified international mineral exploration company focusing on the advancement of existing properties and identifying and acquiring new prospective projects. TNR has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, is now held by TNR's now-listed subsidiary, ILC. TNR remains a large shareholder in ILC at 28% of outstanding shares.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the TNR and ILC's commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,
Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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Tuesday, October 18, 2011

Brigus Gold optioning none core assets for cash and shares in Cangold Ltd

Brigus Gold Completes Option of 75% Interest in Its Ixhuatan Gold Project in Mexico 
7 hours ago by Business Wire
 Brigus Gold Corp. ("Brigus" or the "Company") (NYSE Amex: BRD)(TSX: BRD) announces that Cangold Limited ("Cangold") has received regulatory and TSX Venture Exchange approval and has completed its previously announced transaction with Brigus. The terms of the transaction provide Cangold with the option to acquire a 75% interest in Brigus' Mexican subsidiary (the "transaction") that owns the Ixhuatan gold project ("Ixhuatan Project"), an advanced exploration stage project located in Chiapas, Mexico.

Cangold has filed an updated Canadian National Instrument 43-101 report on the project (P. Secombe, May 18, 2011) and has completed a definitive option agreement with Brigus. Pursuant to the terms of the transaction, Cangold has paid Brigus Cdn$1.0 million and has issued 6.0 million Cangold shares to acquire the initial option and will be required to pay Brigus Cdn$1.0 million and issue 6.0 million Cangold shares after 12 months and an additional Cdn$3.0 million and 4.0 million Cangold shares after 24 months. To exercise its option and acquire a 75% interest in the Ixhuatan Project, Cangold will then be required to pay Brigus Cdn$5 million and issue 4.0 million Cangold shares as well as complete an independent third-party feasibility study on the Campamento Deposit within 36 months. Following Cangold's exercise of the purchase option, Cangold and Brigus will hold a 75% and 25% interest respectively and will be responsible for their pro-rata costs in jointly developing the Ixhuatan deposit. Brigus will retain a 2% Net Smelter Return royalty over the project and upon commencement of commercial production, will also receive a payment of Cdn$5.00 per ounce of gold in the Proven and Probable category included in the feasibility study.

About Brigus Gold
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold has completed its transaction to sell a 75% interest in the Ixhuatan Project located in the state of Chiapas to Cangold. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.

Cautionary and Forward-Looking Statements
Statements contained in this news release which are not historical facts are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All statements regarding the National Instrument 43-101 report, feasibility study, advancement and development of the Ixhuatan Project, production from the Ixhuatan Project, the closing of the transaction with Cangold, and Cangold's planned share consolidation and financing are forward-looking statements and involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading "Risk Factors" in Brigus' financial report filings on www.sedar.com and www.sec.gov and with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

SOURCE: Brigus Gold Corp.
Brigus Gold Corp. 
Jennifer Nicholson CA 
Vice President, Investor Relations 
902-422-1421 
ir@brigusgold.com
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