The merger should be closed Sept. 9th. NFX will be the surviving company name. The new lab is completing the sample analysis on time, as promised. Holes #10 and #42A are at the lab now, awaiting results. Holes #47 and #49 are underway and targeting the deep flow-type mineralization that holes #43/44 were not able to reach due to a shear zone. These are being drilled from south to north, in order to intersect the flow-type mineralization before intersecting the shear zone. Hole #50, also in progress, is a follow up hole to #38(6.5g/t Au/2.9m incl. 8.9g/t Au/1.9m), this is believed to be a new mineralization zone or shoot. If all goes well, holes #47,49,and 50 will be completed the end of July, and sent to the lab. The company will release results as they become available. Should have 2 PR's with results before the merge. http://media3.marketwire.com/docs/ImageMap_0709.pdf
Unity has drills on the way, possibly arriving next week. Unity doesn't get the recognition it deserves imo.
The merged company has enough cash to complete this year and maybe a little into next year. Then there are the .40 cent warrants, which could generate an additional $4 million.
A resource estimate for the Larder Lake project should be completed around the end of the year, (Cheminis and Bear Lake) as planned. Patience, GLTA
-> Wie gestern gestern war doch das Loch 44 einfach zu kurz um die beliebte Flow-type Mineralisierung zu erreichen! Nun wurden 2 neue Löcher gebohrt - 47 und 49 -, welche entgegengesetzt von 44 und 43 gebohrt wurden um diese Zone zu erreichen, hier hab ich mal ein Bild gemacht, wie die beiden Löcher aussehen sollten:
TSX VENTURE: MXV Jul 14, 2008 08:30 ET Maximus Ventures Begins a 3,600m Drilling Program at the Unity Project in Idaho
LONGUEUIL, QUEBEC--(Marketwire - July 14, 2008) - Maximus Ventures Ltd. ("Maximus") (TSX VENTURE:MXV) is pleased to announce today the beginning of a 3,600m drilling program on its Unity project located in Idaho. The work will focus on testing the lateral and down-dip extensions of historically very high-grade (30 to 150g/t gold) and very extensive (up to 2km long) quartz veins. A first phase of work includes testing two of the richest gold veins, namely the Little Giant and Rescue veins and investigating other gold-rich veins on the property including Charity and Gun Metal. Should the drilling program be successful, a pre-feasibility study to justify the rehabilitation of old workings and additional underground development would then be commissioned?
A striking feature of this project is the extent of the gold-rich narrow quartz vein system. While individual veins range from few centimetres to often over 1 metre in thickness, they can be traced for hundreds to thousands of meters along strike and occur over an area of over 4 square kilometres. The veins are locally very high-grade and are reported to have locally-yielded grades of up to several hundred ounces of gold per tonne. However, production grades were generally recorded at 30 to 150 grams per tonne (1 to 5 ounces per ton) according to historic information (John C. Reed, 1937; Geology and Ore Deposits of the Warren Mining District, Idaho County, Idaho). Over 1.2 million ounces of gold was historically produced from the area, both from underground and alluvial operations. Maximus believes that there is excellent potential to develop resources both in previously-mined veins and in veins that are yet to be explored by diamond drilling.
To date, 41 different gold-bearing quartz veins have been identified on the property, of which the Rescue, the Little Giant and the Charity are three of the 18 better-known veins and supplied most of the reported historic gold production. These veins are still open laterally and down-dip and, with limited exploration and development work, their extensions could potentially be mined again from an existing 1,600m long adit.
No previous drilling has been recorded on the property and all previous exploration efforts were conducted using trenching and underground drifting along the veins. There are strong geological indications that significant mineralization remains in place along the three principal veins already exposed by old workings (either laterally or down-dip). Furthermore, many other gold-bearing quartz veins, parallel to or intersecting the main veins remain, to be explored.
Maximus, through its wholly-owned US subsidiary, Walker Lane Gold LLC (Walker), can earn a 60% joint venture interest from Unity GoldSilver Mines Inc. by spending US$1.0 million in exploration and development work on the property and by completing a positive feasibility study on or before November 30, 2010. The property located in Township 22N, Idaho County, Idaho consists of 8 patented claims and 51 leased (staked) claims covering 420 hectares. The objective of the work program planned for Unity is to complete, as soon as possible, a feasibility study to evaluate the economic viability of reopening the Unity gold mine.
The technical content of the information contained in this news release was reviewed and approved by Mr. Bernard Boily, P. Geo., and Maximus' Vice President of Exploration. Mr. Boily is responsible for supervising the drilling program and is a qualified person under National Instrument 43-101.
This news release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that Maximus believes, expects or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements reflect the current internal projections, expectations or beliefs of management of Maximus based on information currently available to it. Forward-looking statements are subject to a number of known and unknown risks and uncertainties beyond Maximus' control including uncertainties related to the exploration program, potential mineralization, exploration results, completion of work program, and availability of equipment necessary for the drilling program and future plans and objectives of Maximus. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production. There can be no assurance that such statements will prove to be accurate and actual results could differ materially from those suggested by these forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. Maximus undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
-> PI immer noch aktiv, heute wieder knappe 74k Aktien gesammelt! (werde gleich noch die Häuser seit PI-Kaufbeginn posten)
-> Hauptabgeber sind wohl die Deutschen mit CIBC und BMO
Was mich positiv stimmt, ist die Tatsache dass die gehandelten Aktien, die sich Penson gestern geschnappt hat noch nirgends aufgetaucht sind! Auch heute war Penson wieder nicht aktiv in Canada, könnte also auf ein Fehlalarm bezüglich BB hindeuten? Aber mal sehen was die nächsten Tage noch bringen!
Wie gestern geschrieben halten die das Teil wohl über den 0,50CAD. Heute ist Tag 19 wo sich MXV über den 0,40CAD befindet. Die ersten Warrants wurden, wie geschrieben, ja bereits gezogen - für die restlichen 10 Mio bedarf es allerdings erheblich mehr an Handelsaktivität! Und Maximus baucht das Cash definitiv.
Die Frage ist nun - Wer oder was bekommt diese 10 Mio Aktien bald? Bei guten News, welche automatisch hohes Volumen mit sich bringen hätte sich diese Frage schon erledigt Zwinkern
Aber mal sehen was noch so kommt.
Werde gleich noch die Häuser posten, seit dem PI aktiv ist - als seit dem Tag nach der Vancouver Messe.
Vielen Dank noch für deine Tabelle. Trotz deinem doch sehr hohen Sicherheitsabschlag ist hier enorme Luft nach oben. Wobei ich eigentlich bei den 80CAD pro Unze schon einen Sicherheitsabschlag enthalten sehe. Insider gehen sogar von über 100CAD pro Unze faire Bewertung auf LL aus - einfach weil die Infrastruktur und die politische Lage traumhaft sind. Daher hast du fast 50% Sicherheitsabschlag einkalkuliert und trotzdem sieht das ganze sehr schön aus
Hier noch die Häuser, seit PI (externer Investor, welcher seit Vancouver-Messe über Börse kauft) aktiv ist.
TSX VENTURE: NR Jul 21, 2008 09:32 ET Newstrike Resources Ltd.-Press Release
TORONTO, ONTARIO--(Marketwire - July 21, 2008) - Newstrike Resources Ltd. (TSX VENTURE:NR) ("Newstrike") announces today that based upon the results of preliminary drilling conducted to date at the Swansea property located on the Larder Lake Break in northeastern Ontario, Newstrike has determined to terminate its option to acquire an additional 25% interest in this property. Newstrike currently owns a 25% interest in this property (subject to an aggregate 6.25% net proceeds of production royalty up to a maximum of $275,000), and holds an option to acquire an additional 25% interest in this property from NFX Gold Inc. ("NFX"). Newstrike may exercise this option to acquire an additional 25% interest in the property by incurring aggregate exploration expenditures of $1,000,000 on the property in tranches over a two year period, and issuing an aggregate of 100,000 common shares to NFX over a two year period, all pursuant to a letter agreement dated September 13, 2007. Of the 100,000 common shares of Newstrike to be issued to NFX pursuant to this agreement, 50,000 common shares have been issued to date.
NFX Gold Inc. Advised That Newstrike Resources Ltd. Terminates Option to Acquire Additional 25% Interest in Swansea Property Along Larder Lake Break
TORONTO, ONTARIO--(Marketwire - July 22, 2008) - NFX GOLD INC. (TSX VENTURE:NFX) ("NFX" or the "Company") is pleased to announce that Newstrike Resources Ltd. ("Newstrike") has decided to terminate its option to earn an additional 25% interest in the Swansea Property located along the Larder Lake break in northeastern Ontario. The Swansea Property is owned 75% by NFX and 25% by Newstrike. Newstrike's 25% interest is subject to an aggregate 6.25% net proceeds of production royalty up to a maximum of $275,000.
On September 13, 2007, a letter agreement (the "Agreement") was executed between the companies granting Newstrike the option to earn an additional 25% interest in the Swansea Property from NFX by completing exploration expenditures totaling $1,000,000 within 2 years and issuing an aggregate of 100,000 Newstrike common shares to NFX over a two year period. A total of 50,000 Newstrike shares were issued to NFX pursuant to the Agreement.
A drilling report recently received by NFX, along with formal notice by Newstrike of termination of its option according to the Agreement, provides results from a total of five (5) diamond drill holes completed by Newstrike on the Swansea Property in late 2007. Three of the five holes, namely NR07-01, 02, and 04, were drilled at the western end of the property and drilled south to north to cross-section the near east-west striking mafic to ultramafic volcanic horizons that occur along the Larder Lake break. These mafic to ultramafic volcanic horizons are known to host significant gold deposits like the Kerr Addison, Chesterville, Armistice, Cheminis, Fernland and Omega deposits, with the latter located only 3.7 km to the east.
Hole NR07-01, the most southern of the 3 cross-sectional holes intersected 2 mafic-ultramafic volcanic horizons, one of which displayed weak green carbonate alteration with minor quartz and weak pyrite and included one sample grading 1.85 gpt(1) over 0.3 m.
Hole NR07-02 continued the cross-section northward to investigate the volcanic horizon hosting the Omega deposit along strike. The hole encountered 2 mafic-ultramafic horizons one of which was weakly altered with green carbonate but yielded no significant gold values.
Hole NR07-04 was drilled to continue the cross-section northward testing beneath a prominent outcrop of strongly carbonatized and silicified ultramafic volcanic rock. The hole intersected an 80m wide zone of the altered ultramafic which contained 5 brown silicified weakly pyritized dikes, possibly albitite. Albitite dikes were a noted and important host rock for high grade gold mineralization within the volcanic horizons at the Kerr Addison Mine. A second previously unknown horizon of highly fractured unaltered ultramafic volcanics was intersected immediately north further down hole NR07-04.
The fourth hole NR07-03 was drilled northwest beneath Diamond Lake from its east shore and intersected two ultramafic volcanic horizons displaying little alteration and mineralization.
Hole NR07-05 was drilled 1,200 meters east of the other holes in an area where historic drill hole SW87-04 completed by Eldor Resources in 1987 reportedly(3) intersected 0.30 opt(2) Au (10.3 gpt Au) over 6.1 m in "quartz flooded fuchsitic tuff". The intersection occurs at a vertical depth of 300 m within the same volcanic horizon that hosted the Omega deposit located 2.5 km to the east. Follow-up drilling by Noranda with hole 92-7 located on the same section and 150m below the SW-87-4 intersection encountered 4.6 meters of altered volcanic hyaloclastite with 10% pyrite but only low gold values. Hole NR07-05 was drilled 150 m west and 200m south of historic hole SW-87-4 and encountered the same succession of rocks including an upper volcanic package that yielded 0.5 gpt Au over 2 m and a lower volcanic package yielding 0.5 gpt Au over 0.5 m.
Thomas Larsen, President and Chairman of NFX Gold Inc. stated, "Normally we would be disappointed by the termination of the option however, in this case, NFX is pleased to retain its entire 75% interest in the Swansea Property. We believe the Swansea project's full gold potential will be realized under the new business arrangement proposed by NFX Gold Inc. and Maximus Ventures Ltd." The new business arrangement proposed by the companies is outlined in a letter agreement that was announced in a June 13, 2008 press release and following Maximus's anticipated $6M earn-in on NFX's Larder Lake Project will see the assets of the two companies, including the Swansea Property, merged into a new single entity.
Thomas Larsen further stated, "While the drilling program completed by Newstrike did not yield any gold values of economic interest, we believe the results are encouraging and further confirm the NFX-Maximus exploration model extends westward from the Larder Lake Project onto the Swansea property. The intersection of six favourable host volcanic horizons in the cross-sectional drilling at the west end of the Swansea property of which some demonstrate the presence of albitite dikes, strong alteration, mineralization, and low grade gold is just the sort of environment we are looking to explore down-plunge at depths below 300 m as we are currently doing with success at the Bear Lake gold zones of the Larder Lake project on-strike. Hole NR07-05 located 150 m west and 200 m south of the historic high grade intersection in hole SW-87-4 was not positioned on the typical steep easterly plunge demonstrated by the other deposits in the area and we believe this zone may have significant exploration potential. We look forward to continuing exploration on the Swansea project under our new business arrangement with Maximus."