Canada Mining News

Allana Potash to Commence Trading on the Toronto Stock Exchange (TSX)

Allana Potash Corp. (TSX VENTURE:AAA) (OTCQX:ALLRF) ("Allana") is pleased to announce its common shares will commence trading on the Toronto Stock Exchange (TSX) at market open on Friday, September 9, 2011. The Company's stock symbol will remain "AAA".

Bayfield drills 34.50m of 1.24 g/t AuEq in near surface drilling and discovers new shallow gold mineralization in east-central portion of Burns Block in Rainy River, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") is pleased to announce an additional significant gold and silver intercepts on its 100% owned Burns Block property in the Rainy River District of north-western Ontario. The Burns Block is situated adjacent to the east and on strike to Rainy River Resources' multi-million ounce gold and silver deposit.

Montoro retains aeroquest for airborne surveys over BC rare earth prospects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - International Montoro Resources Inc. ("Montoro") (TSX VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has retained Aeroquest International Limited to conduct multiple large scale geophysical and radiometric airborne surveys over the highly prospective "Tacheeda NW" and "Chuchinka NW" Rare Earth Element prospects located in 'The Rocky Mountain Rare Metal Belt' of northern British Columbia. Both of Montoro's newly acquired properties are on trend with properties held by Spectrum Mining Corp. (the "Wicheeda" discovery), who announced a 48.64 metre interval which averaged 3.55% REE, a 72.0 metre interval that averaged 2.92% REE, and a 144 metre interval which averaged 2.20% REE in three separate drill holes.

Crosshair confirming historical results in preparation for an initial resource estimate at Juniper Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - Crosshair Exploration & Mining Corp. (TSX:CXX)(NYSE Amex:CXZ) is pleased to announce additional results from the ongoing drill program on the Juniper Ridge Uranium Project in southwest Wyoming. A total of 356 holes (67,399 feet) have been drilled to date. The 2011 program is successfully confirming historical results, which indicate that the Project may be amenable to an open-pit, heap leach operation.

IBC Advanced Alloys receives drilling permit approvals for 2011 Utah drill program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(PINK SHEETS:IAALF)(OTCQX:IAALF) ("IBC" or the "Company") announces that it has received permits and approvals from the Utah State Office of the U.S. Bureau of Land Management and the Utah Division of Oil, Gas and Mining to commence its planned drill program in Juab County, Utah. IBC's properties incorporate 371 claims, totalling approximately 7,630 acres and are located immediately adjacent to the large Spor Mountain beryllium mine.

Great Western Minerals Group selects drill contractor for Steenkampskraal rare earth project

SASKATOON, SASKATCHEWAN--(Marketwire - Sept. 8, 2011) - Great Western Minerals Group (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG") is pleased to announce the selection of Drillcorp Africa (Pty) Ltd. ("Drillcorp") as the drill contractor for the upcoming exploration and resource evaluation program at the Company's Steenkampskraal Rare Earth Element ("REE") project in South Africa.

Zone Resources Inc. reports analyses from new iron zones on the Moore property in the Labrador Trough of Northern Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - Zone Resources Inc. (Zone) (TSX VENTURE:ZNR)(FRANKFURT:7ZR) is pleased to announce that the company has received analyses of grab samples from outcropping zones of iron formation on its Moore property. The previously unreported zones were disclosed in a news release dated August 31st, 2011. All the samples are grab samples and do not necessarily reflect the average grade of the zones from which they were taken.

Blue Gold Mining Inc. announces $20,000,000 best efforts offering of units

Blue Gold Mining Inc. (TSX VENTURE:BGX) (the "Corporation") announces that the Corporation has entered into an agreement with a syndicate of Agents led by Cormark Securities Inc. and including Axemen Resource Capital Ltd., PI Financial Corp. and Canaccord Genuity Inc. (the "Agents") to offer for sale (the "Offering"), on a best efforts agency basis, up to $20,000,000 of units (the "Units") of the Corporation at a price of $1.00 per Unit (the "Offering Price"). Each Unit will consist of one common share in the capital of the Corporation (a "Common Share") and one-half of one warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one Common Share at a price of $1.50 for a period of two years following the closing date.

Rare Earth Metals reports update from drilling on its Two Tom deposit in Labrador

THUNDER BAY, ONTARIO--(Marketwire - Sept. 8, 2011) - Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(PINK SHEETS:RAREF)(OTCQX:RAREF) is pleased to report preliminary Rare Earth Element results from three additional holes on the Two Tom Mineralized Zone at the Red Wine Property, located approximately 110 kilometers northeast of Churchill Falls in west central Labrador. The results include best intersections of 1.86% TREO over 121.5 meters within a larger zone of mineralization which assayed 1.46% TREO over 195.15 meters in drill hole DDH-TT-13, 1.82% TREO over 89 meters in drill hole DDH-TT-14, and 2.15% TREO over 120 meters within a larger zone of mineralization which assayed 1.68% TREO over 176.5 meters in drill hole DDH-TT-15b. The HREO/TREO ratios from these intersections range from 5.2% to 6.0%.

Barkerville adds 2,975 hectares to its Cariboo mining project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2011) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") announces that it has completed the purchase of the Antler Creek, Craze Creek and Roundtop Mountain Properties under the terms previously disclosed on August 23, 2011, August 24, 2011 and August 26, 2011 respectively (News Releases 11-24, 11-25 and 11-26).

Hathor Exploration Limited Announces Annual General Meeting Results

Hathor Exploration Limited (TSX:HAT) ("Hathor" or the "Company") is pleased to announce the results of its recently held Annual General Meeting of shareholders (the "Meeting"). At the Meeting, shareholders re-elected each of James Malone, Michael Gunning, Benjamin Ainsworth, John Currie and Martin Glynn to the Company's Board of Directors.

CNOOC says Canada court gives green light to Opti deal

China's top offshore oil producer CNOOC Ltd said a Canadian court had approved its acquisition of struggling oil sands company Opti Canada Inc.

Police join hunt for Silvercorp shortseller

Bloomberg reports Silvercorp Metals was contacted by a Canada police unit called the Integrated Market Enforcement Team on Wednesday offering to help find the person behind an anonymous letter alleging a “potential $1.3 billion accounting fraud” at the company. Silvercorp Metals was forced on Friday to make public the letter, also sent to the Ontario Securities Commission, presumably from a shorter of the company's stock as it was also disclosed at the time that someone had built up a short position of some 23 million shares over the preceding two months. The firm with projects in China and Canada plunged 10% after the news broke, but has since regained much of the lost ground.

Trueclaim Exploration Inc. Signs Options on Gold Prospects in Cook Township, Guibord Township and Boston Township, Ontario

Trueclaim Exploration Inc. (the "Company") (TSX VENTURE:TRM)(PINK SHEETS:TRMNF)(OTCQX:TRMNF), an explorer and developer of precious and base metals projects, is pleased to announce that it has signed two option agreements to acquire a 100% working interest in two groups of mineral claims in the Province of Ontario.

Santa Fe Gold Corporation agrees to acquire Columbus Silver Corporation for $0.20 per share in cash

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Columbus Silver Corporation (TSX VENTURE:CSC) ("Columbus Silver") has entered into a memorandum of understanding (the "MOU") under which the publicly-listed U.S. company Santa Fe Gold Corporation (OTCBB:SFEG) ("Santa Fe") has conditionally agreed to acquire all of its outstanding common shares ("Shares") for CDN$0.20 per share in cash (the "Acquisition"). If successful, the Acquisition will be completed as a plan of arrangement under the Business Corporations Act (British Columbia).

St-Georges Platinum and Base Metals Ltd.: New Mineralized Zone Expanding to the West at Villebon

St-Georges Platinum and Base Metals Ltd. (CNSX:SX)(BERLIN:85G) is pleased to provide updates on the second phase of its drilling program carried out on the Villebon property located 45 km southeast of Val d'Or in the Abitibi Greenstone Belt of Quebec.

Advanced Explorations Inc. progressing with feasibility study

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2011) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)(FRANKFURT:AE6) is pleased to announce that work continues in support of the Roche Bay Feasibility Study ("FS"). In addition to this summer's resource and geotechnical drill programs the Company has initiated a number of metallurgical studies looking to optimize concentrate process and quality while reducing the associated operating and capital cost. To date there have been five independent metallurgical studies undertaken (two in Canada, two in Germany and one in China) which support the previously reported results that a high quality concentrate can be produced. The Company does expect to provide a further update on the C- Zone resource as part of this ongoing work with the intention of expanding the FS resource base.

Manson Creek Intersects 5.75 g/t Gold Over 1.0 Meter at Virgin Arm Gold Project

CALGARY, ALBERTA--(Marketwire - Sept. 7, 2011) - Manson Creek Resources Ltd. (TSX VENTURE:MCK) ('Manson Creek') is pleased to announce that it has drilled numerous multi-gram gold intervals at its Virgin Arm gold project, located in Newfoundland. The 1,085 meter NQ sized diamond drill program targeted gold mineralization in and around the Hank and Homer Zones. Noteworthy gold values were returned on drill holes 03, 04, 05 and 06 (Table 1). Drill hole 2011-Ha 06, targeting a southern extension of the Hank Zone, intersected 1.51 grams per tonne (g/t) gold over 3.5 meters (m) including 3.82 g/t gold over 1.1 m.

Logan announces 44% iron over 49 metres from Redford iron ore project

Logan Resources Ltd. ("Logan") is pleased to announce additional assay results from the ongoing drill program on the Redford Iron Ore Project located on Vancouver Island, British Columbia. Ridgemont Iron Ore Corp. ("Ridgemont") is the operator of the Project and has an option to acquire up to 75% interest in the Project.

Pacific Ridge provides exploration update from the Mariposa gold property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (the "Company") reports that exploration at the Mariposa Property, located within the Yukon's White Gold District, has seen completion of 34 drill holes for a total of 5350 metres drilled so far this season. Receipt of assay results has seen delays due to high volume and continuous sample submittals, as a result of increased exploration activity in the Yukon. The objective of the 2011 drilling program is planned around completion of approximately 6,000 metres of diamond core drilling to test 5 gold exploration targets located within an approximate 26 square kilometer area of the overall 262 square kilometer Mariposa Property.

NovaGold reports preliminary capital costs for its Donlin gold project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - NovaGold Resources Inc. (TSX:NG)(NYSE Amex:NG) The feasibility study completed on the Donlin Gold Project (formerly Donlin Creek) in 2009 is being updated to include power generation utilizing natural gas delivered to site via aproposed 500-kilometer natural gas pipeline from the Cook Inlet to the mine site. Utilizing natural gas is expected to lower costs to generate power and reduce operating risk. In connection with this update, Donlin Gold LLC, owned equally by wholly owned subsidiaries of NovaGold Resources Inc. ("NovaGold") and Barrick Gold Corporation ("Barrick"), has provided its owners with preliminary capital cost estimates of approximately US$6billion for the Project with an additional approximately US$1 billion for the natural gas pipeline.

Nevada Copper Corp.: mineralization continues to expand, intersecting over 600 feet of mineralization including 323 feet of 1.82% copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") is pleased to announce additional positive step-out drill results from the 100% owned Pumpkin Hollow Property located in Nevada. The hole reported below represents recent assay results from the North Deposit. The 20,000 meter step-out and expansion drilling program is progressing with three drill rigs currently on the property.

Keystone XL Pipeline protests: are Canadians growing apathetic about the oil sands?

The recent protests in Washington over plans to funnel crude from the Alberta oil sands to Texas put the spotlight on the growing opposition to the project south of the border. But as activists hoisted placards, chanted slogans and got arrested (police

Why diamonds may be an investing gem

Can you name a precious commodity that hit record prices this summer? That has long been considered highly valuable for its remarkable beauty alone? In which demand is surging at the same time as mineable supplies are shrinking?

Mining deals drop off a cliff in July and August as China retreats to sidelines

The deal-making frenzy in the global mining sector during the first half of the year was followed by a dramatic drop in activity in July and August, according to a new report by consultants PricewaterhouseCoopers. Figures from the report titled Riders on the Storm show that in July and August the value of global mining deals fell by 49% and deal volumes declined by 25%. The sharp reversal came after a record first half when 1,379 deals worth $71bn were announced even though Chinese entities, firmly focused on value, retreated from iconic western takeovers. Buyers were also willing to pay over the odds for large publicly listed targets – for $500 million+ acquisitions, the average premium was 37%. For sub-$500 million deals, premiums averaged a mere 8%.