Canada Mining News

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%.

Latest weapon for oil sands pipeline backers – Oprah Winfrey, which stated goal is countering inaccurate and unfair criticisms of the oil sands, this week launched their first television ad as debate about the Keystone pipeline intended to carry Canadian crude to refineries on the US Gulf coast intensifies. The treatment of women in Saudi Arabia is the focus of the new ad running exclusively on the Oprah Winfrey Network in Canada and comes on the heels of demonstrations in front of the White House where celebrities had themselves arrested to persuade President Barack Obama, who has the final say, of oil sands' dangers and influential environmental voice Al Gore calling oil sands the "dirtiest fuel on the planet."

Northaven Cancels 15,000,000 Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - NORTHAVEN RESOURCES CORP. (TSX VENTURE:NTV) is pleased to announce that it has cancelled a total of 15,000,000 previously issued warrants which were surrendered by the holders for...

Sea of red for uranium sector as price drops to Fukushima lows

With the spot price for uranium falling below $50 – levels last seen immediately after the nuclear accident at Fukushima – U3O8 producers and explorers dropped across the board on Tuesday. Not even Hathor Exploration, the subject of a hostile takeover by industry bellwether Cameco, managed to get into in positive territory and the sector as a whole has lost more than 40% its value since the 11 March earthquake off the coast of Japan. And the near term outlook for the sector is not rosy either with a new study by Resource Capital Research indicating market price expectations looking out 3 to 6 months points to further downside, with a spot price expectation of $45.95/lb.

Selwyn significantly expands XY west deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2011) - Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to announce the first drill results from the recent drilling of the XY West deposit at the Selwyn Project, Yukon. The drill results are part of the exploration and definition drilling program of the XY West deposit conducted by Selwyn Chihong Mining Ltd. ("SCML"), the joint venture company equally owned by Selwyn and Chihong Mining Canada Ltd. Chihong Mining Canada Ltd. is a wholly owned subsidiary of Yunnan Chihong Zinc and Germanium Co. Ltd

Rare Earth Metals intersects significant heavy REE mineralization at Dory Pond area, red wine project, with HREO/TREO ratio of 42.1% from intersection of 1.55% TREO over 21.0 meters

THUNDER BAY, ONTARIO--(Marketwire - Sept. 6, 2011) - Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(OTCQX:RAREF)(PINK SHEETS:RAREF) is pleased to report preliminary Rare Earth Element results from drilling on the Dory Pond project area of the Red Wine property. The second hole of this drill program (DDH-B3N-03) was successful in testing an area defined by a number of Heavy Rare Earth anomalous prospect samples and resulted in an intersection of 1.55% TREO (HREO/TREO of 42.1%) over 21.0 meters within a wider intersection of 1.11% TREO (HREO/TREO of 41%) over 42.9 meters. Of particular importance are the high values in Dysprosium, Yttrium and Neodymium which compare favourably with other more advanced Heavy Rare Earth Deposits.

Exploration company accused of bribery in Mexico

The Royal Canadian Mounted Police are investigating a Calgary-based company over allegations of bribery in Mexico. The Mounties are checking whether Blackfire Exploration Ltd. made monthly payments to a local mayor to prevent protesters from interrupting the mine's operation, says the CBC:

Canada leads mining M&A during first half with slew of big deals

Canada led the world in the number of mining mergers and acquisitions (M&A) for the first half of the year, says Ernst & Young. And while the number of deals fell in comparison to the highly acquisitive first half of 2010, the value of the transactions that took place this year more than doubled compared to the same period last year. The country was the leading buyer in H1 with 196 deals, and also the leading target destination with 129 deals. Australia came second as a buyer and target destination, with 83 and 72 deals respectively.