Canada Top Stories

Barrick keen on Guyana Shield, Canada for exploration -executive

The giant also said it wants "more exposure" in Canada.

Teck to name partner in Chilean copper project in December

Canada’s largest diversified miner is also studying a Phase 3…

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Mountain Province Diamonds announces results of independent valuation of Gahcho Kué Diamonds

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NY-AMEX: MDM) today announced the results of an updated independent valuation of the diamonds recovered from the Gahcho Kué Project. The valuation was conducted by WWW International Diamond Consultants Ltd. and took place at the London offices of the Diamond Trading Company in early April, 2011. All diamond values presented below are based on the WWW Price Book as at April 11, 2011. Importantly, for the first time, the Gahcho Kué diamonds were grouped into larger parcels, each parcel representing diamonds from the Hearne, Tuzo and the separate lobes of the 5034 kimberlite. In the opinion of WWW, grouping of the diamonds into larger parcels increased the accuracy of the diamond valuation.

Quadra FNX Mining announces earnings of $168 Million in the first quarter of 2011

The Company recorded first quarter earnings of $168 million or $0.88 per share (basic) compared to earnings of $55 million or $0.55 per share for the previous year. The higher earnings in the current quarter were driven by a $134 million pre-tax gain on the disposition of Gold Wheaton shares, higher average copper prices and the inclusion of the Sudbury operations following the merger with FNX. These factors were partially offset by lower sales volumes at Robinson and Carlota. Adjusted earnings for the first quarter totalled $51.8 million or $0.27 per share (basic) compared to $55.3 million or $0.56 per share (basic) for the previous year.

Shear commences drilling at Jericho diamond project in Nunavut and intersects additional kimberlite

Shear Diamonds Ltd. (TSX VENTURE:SRM) today announced the commencement of its spring drilling program at its 100% owned Jericho Diamond Project, Nunavut. The first drill hole within the Jericho open pit into the Jericho Kimberlite Complex has been completed and intersected more kimberlite than expected based on the past models.. As part of the ongoing exploration program (see news release February 28, 2011), a series of six angled delineation drill holes have been planned to test areas of the Jericho Kimberlite Complex where it is felt that additional data points are required and to determine the potential for increased tonnage.

Talmora Diamond announces equity financing to raise up to $1,250,000

Talmora Diamond Inc. (CNSX:TAI) is pleased to announce that it proposes to complete a part brokered and part non-brokered private placement of up to 25,000,000 Units, comprised of at least 20,000,000 Hard Dollar Units and up to 5,000,000 Flow-Through Units at $0.05 per Unit, for gross proceeds of up to $1,250,000. The private placement is expected to close not later than May 16, 2011.

NioGold discovers two important mineralized structures in Malartic Camp

NioGold Mining Corporation (TSX-V: NOX) is pleased to report on the on-going exploration drilling program within the southern portion of company's wholly-owned Malartic Block property, located in the Malartic gold camp, Abitibi region of Quebec. The first three holes of the program intersected two important altered, veined and sulphide mineralised shear zones cutting sedimentary rocks.

Independent technical report confirms IAMGOLD’s niobium mine potential with a 691% increase in M&I resources and a net asset value up to $2 billion

IAMGOLD Corporation (TSX:IMG)(NYSE:IAG) today announced the results of an independently prepared NI 43-101 compliant preliminary economic assessment ("PEA") on the company's wholly-owned Niobec niobium mine in the province of Quebec, Canada. The PEA shows a significant increase in the measured, indicated and inferred mineral resource estimates at Niobec with the potential for a significant production expansion. The PEA examined the impact of changing the existing underground mine to an alternative bulk mining method. IAMGOLD technical personnel then compared the economics of the open pit scenario and a block caving scenario. The work done on the PEA and the study will be advanced in a 2011 pre-feasibility study to confirm the potential upside of Niobec.

Lake Shore Gold announces first quarter 2011 production results, company targeting 125,000 ounces in 2011

Lake Shore Gold Corp. (TSX:LSG) today released production results for the first quarter of 2011. Ore processed in the quarter amounted to 148,400 tonnes at a grade of 4.89 grams per tonne ("gpt") at a recovery rate 95.8% for recovered gold of 22,300 ounces. Gold poured related to mill production totaled 25,900 ounces. Total gold sold during the first quarter of 2011 was 34,000 ounces at an average gold price of US$1,387 per ounce. Image by Lake Shore Gold