CNW Group | Natural Resource Discoveries

Red Moon Potash starts drilling at Captain Cook Salt/Potash deposit in Western Newfoundland

The drilling program at the miner's Captain Cook salt/potash deposit in Western Newfoundland will consist of two holes.

More Canadian mining CEOs join the millionaires club in 2011

VANCOUVER, Sept. 15, 2011 /CNW/ - In 2011, Canadian mining CEOs are enjoying high salaries on par with 2010's blockbuster year for compensation and there has been a rise in mining CEO millionaires this year, according to the 2011 Mining Industry Salary Survey by Coopers Consulting and PwC. In 2011, the average annual base salary for Canadian mining CEOs was $486,000 in 2011, similar to $480,000 in 2010. Of the 95% of CEOs who were eligible for cash bonuses, 85% reported receiving payouts averaging 76% of their base pay (compared to 88% in 2010 and 61% in 2009) with the highest cash incentive percentage totalling 300% of base pay.

Rockwell to implement highly effective bulk x-ray technology diamond recovery at Saxendrift

VANCOUVER, Sept. 6, 2011 /CNW/ - Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX: RDI) (JSE: RDI) (OTCBB: RDIAF) announces that its board of directors has approved the capital investment to install high throughput (or bulk) x-ray technology at Saxendrift. This represents another positive step in implementing and entrenching its diamond value management programmes which are focused on sustainably enhancing diamond recoveries.

WGR- Wits Gold's advanced De Bron-Merriespruit South (DBM) Project moves into pre-feasibility; additional resource upgrade on track

Wits Gold wishes to announce that Turgis Consulting (Pty) Ltd (Turgis) has been appointed to complete a pre-feasibility study over the Company's advanced DBM Project in the southern Free State goldfield. This follows the announcement of positive scoping study results at the DBM Project on 23 June 2011. The initiation of a seven diamond borehole drilling programme for pre-feasibility purposes commenced in July 2011 and is on schedule to be completed during September 2011.

Canadian gold miner AuRico to buy Northgate Minerals for $1.48 billion

TORONTO, Aug. 29, 2011 /CNW/ - AuRico Gold Inc. ("AuRico") (TSX:AUQ) (NYSE:AUQ) and Northgate Minerals Corporation ("Northgate") (TSX:NGX) (NYSE-Amex:NXG) are pleased to announce that they have entered into a definitive acquisition agreement (the "Agreement") to create a new leading intermediate gold producer. The new company will have 5 operating gold mines, a sixth mine targeting production in 2012 and 3 gold development projects in Mexico, Canada, and Australia, three of the top global mining jurisdictions.

$130 billion in investments planned for Canadian mining industry

New figures from the Mining Association of Canada estimate that approximately $130 billion worth of investment is projected over the next five years for the Canadian mining industry; including both new project and expansions to existing operations. That message was part of an address Thursday to the Sudbury Chamber of Commerce made by Pierre Gratton, President and CEO of the Mining Association of Canada.

Fire River Gold Corp. announces concentrate sales agreement

Fire River Gold announced it has negotiated a three year contract with Glencore International Limited for the sale of the copper concentrate produced at Nixon Fork Gold Mine. The gold rich copper concentrate is to have moderate copper content which has varied from 10% to 25% historically.

Oilsands Quest Inc. extends rights offering subscription period

Oilsands Quest Inc. (NYSE Amex: BQI) ("Oilsands Quest," "OQI" or "the Company") is extending the rights offering announced on July 18, 2011 (the "Rights Offering"). The Rights Offering was originally scheduled to expire on August 15, 2011 and the Company is extending the period by two weeks in order to ensure that its shareholders have adequate time to consider and participate in the offering.

Sunward intercepts gold and strong copper mineralization at First Western step-out hole on Cerro Vetas Zone

Sunward Resources (TSXV: SWD) ("Sunward" or "the Company") is pleased to announce that it has intercepted significant mineralization in the first-ever step-out drillhole on the western side of the Cerro Vetas zone, at its Titiribi project, Colombia. The Company recently began drilling the western side of the Cerro Vetas porphyry after geologic modeling and surface geochemistry suggested that the porphyry may extend in a westerly direction beyond the previously-identified resource envelope.

Azimut discovers a new copper-molybdenum zone at Rex, Nunavik, Quebec

Azimut Exploration Inc ("Azimut" or "the Company") (TSXV: AZM) announces the discovery of a new mineralized 1.5-km-long copper-molybdenum zone on its 100% owned Rex property in Nunavik, northern Quebec. This latest zone (the Robinson Zone) further supports the excellent exploration potential for large-scale polymetallic deposits in a region considered by Azimut to be a new mineral belt of major importance.

Midas Gold commences $10.5 million exploration program at its Golden Meadows Project

Midas Gold Corp. (MAX: TSX) today reported that the 2011 exploration program at its Golden Meadows Project, Valley County, Idaho, has commenced.

Romarco drills best intercept since Horseshoe – New Mustang zone returns 117 meters of 5.5 g/t gold

Romarco Mineals Inc. (TSX:R) has drilled its best hole since Horseshoe on the Haile property identifying a newly designated zone ("Mustang") as a result of its ongoing drill program at its Haile Gold Mine project in South Carolina. Image of the Haile gold project by Romarco Minerals

Atlanta Gold announces 54% increase in Indicated gold equivalent resource at its Atlanta property in Idaho

Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) has completed a re-evaluation of the mineral resource estimate at the company's Atlanta Gold Project in Idaho, USA, previously announced on January 6, 2011.

Metalex recovers largest diamond yet from U2 kimberlite

Metalex Ventures Ltd. (TSXV : MTX) is pleased to report that a 2.61 carat white gem quality diamond has been recovered from the exceedingly large, 9.3 hectare, U2 kimberlite pipe on the Metalex - Arctic Star Diamond Corp. (TSXV : ADD) joint venture in the James Bay lowlands, Ontario.

Midas Gold commences US$10.5 million exploration program at its Golden Meadows Project

Midas Gold Corp. (MAX: TSX) today reported that the 2011 exploration program at its Golden Meadows Project, Valley County, Idaho, has commenced. The work planned by Midas Gold aims to further evaluate the mineral potential of the consolidated Golden Meadows property, unconstrained by historic property boundaries that impeded prior explorers in the area. The 2011 exploration program will use a combination of exploration methods, including airborne and ground geophysics and drilling.

Florence Copper project advances towards development

Curis Resources Ltd. (TSX: CUV) ("Curis" or the "Company") reports a formal update on activities at the Company's flagship advanced stage Florence Copper project in central Arizona, USA.

Connacher Oil and Gas initiates SAGD+ project at Great Divide

Connacher Oil and Gas Limited announced Monday that it has initiated the injection of solvent with steam on two of seven horizontal steam-assisted gravity drainage well pairs on one of three wellpads at the company's bbl/d Algar bitumen production operation at Great Divide in Alberta's oil sands. This pilot project is designed to measure the increase in bitumen production due to the downhole reduction of bitumen viscosity, through the interaction of the solvent and bitumen at the steam oil interface and the amount of solvent recovered after it is injected.

Golden Predator investigates gold recovery from existing heap leach pad at Brewery Creek Project, Yukon

Golden Predator Corp. (TSX:GPD) has commenced sonic drilling into the existing heap leach pad at its Brewery Creek Project. This drill program is in addition to the company's aggressive ongoing exploration program at Brewery Creek, which is delineating the recently discovered Bohemian-Schooner Zone as well as exploring other high priority targets across the expansive Brewery Creek Project area.