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Wednesday, February 24, 2010

Tasman drilling update from Norra Karr REE project, Sweden

Tasman Metals Ltd. Mr Mark Saxon, President and CEO, provides an update on developments regarding the Company's 100% owned Norra Karr Rare Earth Element (REE) project. The drill program currently underway is nearing its conclusion with approximately 80 per cent of the program completed. In addition, a collaborative research project has been initiated, under the guidance of renowned REE expert Dr Tony Mariano.

The Norra Karr project is located in southern Sweden, 300km SW of the capital Stockholm in mixed farming and forestry land. The site is well serviced by power, water and roads that allow all year round access, plus a local skilled community. Norra Karr is a peralkaline nepheline syenite intrusion that shows geological similarity to REE/Zirconium (Zr)/Niobium (Nb) mines of the Lovozero province (Russia) and advanced projects at Kipawa Lake (Ontario), Strange Lake (Quebec) and Dubbo (Australia).

The program underway comprises approximately 2,000m of drilling to test the three-dimensional REE grade distribution throughout Norra Karr, provide data for resource calculations and suitable core sample for metallurgical test work. Thirteen drill holes for a total of 1,730 metres have now been completed, with holes drilled at 80m spacing along three sections to determine the lateral extent of the nepheline syenite. Two infill holes at 40m spacing are planned to complete the program. Drilling has slowed due to unseasonably cold weather and is anticipated to conclude in early March 2010.

All 13 holes intersected the REE-bearing nepheline syenite intrusion, typically to the 100m vertical drill depth being tested by this program. The local rock type "grennaite" is the dominant unit intersected, a fine grained rock consisting of alkali feldspar, nepheline, aegirine, eudialyte and catapleite. Regular intervals of coarser grained pegmatite with eudialyte have also been located. Most of the drill core has now been split and has been submitted to an analytical laboratory for assay. Assay results from the first drill holes are expected to be available during early March.

In order to gain greater insight into the geology and REE/Zr potential of Norra Karr, Tasman has initiated a collaborative research project with the Ore Geology Division of the Lulea University of Technology, Sweden. This project will study the distribution of REE's within minerals and the distribution of these minerals throughout the Norra Karr intrusion to aid future metallurgical research. This project will be assisted by Dr Tony Mariano, whose broad experience in similar REE-bearing geological environments will enable relevant mineralogical data to be recorded and interpreted quickly and effectively. Dr Mariano has nearly 50 years experience in the study and discovery of REE's across more than 50 countries in North and South America, Europe, Asia, Africa, Australia and Europe and is a widely published and renowned expert in the REE field. Dr Mariano is currently actively contributing to the research and exploration of numerous advanced REE projects, including Bear Lodge, Bokan Mountain and Kipwa Lake.

Mr Saxon states, "With the wealth of new data being generated from the Norra Karr drilling program, we feel it is an appropriate time to partner with a technical institution to learn more about the REE and Zr distribution. By drawing on the expertise of Dr Tony Mariano, Tasman will be well placed to move the Norra Kärr project to the next stage."

Sweden is the home of REE's, many of which were first discovered in a quarry in the village of Ytterby, near Stockholm. REE consumption is growing, being essential in the production of hybrid/electric cars, solar panels, wind turbines, compact fluorescent lighting, high-energy magnets, mobile phones and computers. Tasman is well placed as the European Union is actively supporting policies to promote the domestic supply of REE's to secure high-tech industry.

Tasman Metals Ltd will be represented at the annual PDAC conference held in Toronto from the 7th - 10th of March. Feel free to visit the Company at booth 2937.

Wednesday, February 17, 2010

Terra Energy & Resource Technologies Completes an Exploration Services Project

Terra Energy & Resource Technologies, Inc., a natural resource exploration technology company, has completed an exploration services project for oil and gas in Nevada under a contract with Golden Eagle Alliance, LLC, a Colorado limited liability company.

The contract entailed the application of STeP®, Terra's proprietary remote sensing exploration technology, with the objective being to assess the hydrocarbon potential of a certain area in Nevada.

"We welcomed this project because we had an opportunity to showcase the STeP® technology in one of the most challenging frontier areas," said Dmitry Vilbaum, Chief Executive Officer of Terra Energy & Resource Technologies. "Nevada is known for risky exploration and lack of success of traditional geological and geophysical science application. Our technology was used to reduce the risk and exploratory guess work. As Terra's technology suite continues to demonstrate success, exploration companies in the United States are recognizing its robust capabilities as an exploration tool," Dmitry added.

In opining that the oil and gas potential for the area is fairly good, Mr. Vilbaum also stated: "The territory is within the regional 'fairway' of mature Mississippian source rocks capable of generating oil. Wells drilled to the west and east of the area of interest have reported numerous, encouraging oil shows. In this project, we were asked to focus on an area with known oil and gas source rocks and the potential for commercial accumulations of hydrocarbons, although the nearest oil production is located approximately 50 miles away."

"Given our recent announcement of plans to engage in exploration for our own account, this Nevada project has been a good exercise for Terra," said Dr. Alexandre Agaian, Terra Energy & Resource Technologies' President. "We expect to utilize the STeP® analysis in our plans to develop a portfolio of interests in explorations in more established oil and gas states such as Texas and Oklahoma."

Wednesday, February 10, 2010

B.C. Provincial Government halts mineral exploration in Flathead Valley

Max Resource Corp. has learned that the Government of British Columbia intends to halt all ongoing mineral exploration work and prohibit any future mine development in the Flathead Valley in Southeastern B.C.

In his Throne Speech of February 9, 2010, which outlines the B.C. Government's legislative agenda for the upcoming session, BC Lieutenant-Governor Steven L. Point announced that the Province of B.C. intends to enter into a partnership with the State of Montana regarding the Flathead River Basin and, as a result, "Mining, oil and gas development and coalbed gas extraction will not be permitted in British Columbia's Flathead Valley". This action will effectively prevent any further exploration or development of the Company's Crowsnest gold project, which is located in the Flathead Valley watershed.

"We are surprised and disappointed by the Government's action," said Stuart Rogers, President of MAX, "given our outstanding exploration results at Crowsnest in 2009. And we will seek adequate compensation."

MAX will now resume its focus on gold in Nevada, where drill permitting on three gold exploration projects (Table Top, Diamond Peak and East Manhattan Wash) is already well underway.

Quaterra and Goldcorp Sign Investment Framework Agreement

Quaterra Resources Inc. announced that Goldcorp Inc., has entered into a binding Investment Framework Agreement (IFA) with the Company. The IFA formalizes the terms of a previously announced Letter of Intent that provides Goldcorp with an option to acquire an interest in certain mining properties held by or acquired by Quaterra in central Mexico in return for funding a two-year generative exploration program by the Company through a private placement investment of US$10 million in the Company.

The first US$4 million portion of the private placement, which has closed, consists of units at C$1.41 comprised of 3,001,418 common shares of the Company and 1,500,709 two-year share purchase warrants exercisable at C$1.76 per share to purchase up to 1,500,709 common shares of the Company. Under applicable securities laws, the hold periods will expire on June 5, 2010.

Under the IFA, Goldcorp has an option to acquire up to 65% in any property held by Quaterra in central Mexico, with the exception of Nieves, by spending an additional US$2 million over a two-year period on advanced exploration on that property and by completing a Feasibility Study. Thereafter, Goldcorp will solely fund operations at the property until a production decision is made, at which point Quaterra will be responsible for contributing its proportionate share of expenditures.

"We are excited to be working with Goldcorp in central Mexico," says Quaterra President and CEO Thomas Patton. "The agreement allows us to focus on finding large precious metal deposits and positions Goldcorp with its financial strength and technical expertise, to develop them."

The IFA currently includes 12 properties covering over 950 square miles. Exploration will focus on discovering large Penasquito-style gold-silver deposits. Several of the early-stage Quaterra properties, most notably Sabino and Onix, have Penasquito-type potential. Ground geophysics are currently in progress, with drilling planned for the second quarter 2010.

Friday, February 5, 2010

Nass Valley Gateway signs agreement to acquire three gold prospects, Kirkland Lake Mining Camp, Ontario, Canada

NASS VALLEY GATEWAY LTD., announce the signing of an Acquisition Agreement with Golden Dawn Minerals Inc. (GOM), which gives the Company an option to acquire an 80% Joint Venture interest in three gold prospects within the Larder Lake Mining Division of the Province of Ontario, Canada.

The three properties, Central Catharine, Link-Catharine, and the 80-Foot-Fall property are located within the Boston-Skead gold belt of northeastern Ontario. This crescent-shaped gold belt is 25 km south of the still productive Kirkland Lake gold belt that has yielded 24 million ounces of gold in the past century of mining. Gold mineralization in this belt occurs with quartz, quartz-sulphide veins and veinlets in Archean volcanic rocks that have been intruded by granitic batholiths.

For the Link-Catharine area lying centrally between the other two properties, the most recent exploration work within the package of properties was conducted in 2008 and 2009. Highlights include 3.55g/t gold over 3 m and 3.26 g/t gold over 1.2 m in hole DDH CAT 08-22, and 1.01g/t gold over 10 m and 2.65 g/t gold over 3.4 m in DDH CAT 08-04, and 17.5g/t gold over 1 m in DDH CAT 09-02. Together with values of 6.00g/t over 8.6 m and 1.91g/t gold over 20.4 m from hole 99-4, and encouraging gold values from numerous other holes within a broad target area, the results suggest an extensive zone of gold mineralization that warrants concerted continued evaluation for gold deposits.

On both the Central Catharine zone, the northernmost holding within the group, and on the 80-Foot-Fall property, the southernmost holding, drill programs intersected several quartz-pyrite vein systems. Additional work is needed to evaluate both the vein systems and geophysical anomalies on these two targets.

Pursuant to the Acquisition Agreement (the "Agreement"), GOM assigned 100% of its option to acquire the three gold properties from its original vendors, to NVG and both parties will enter into a 20%/80% Joint Venture with NVG as majority interest holder and future operator. Under the terms of the Agreement NVG is required to spend $1,000,000 in exploration expenditures, make $120,000 in property payments and issue 600,000 common shares over three years, of which 450,000 shares will be issued to GOM and 150,000 shares will be issued to the original vendors of the property, in order to earn an 80% ownership of these properties.

Mr. Mel Stevens, President and Mr. Dieter Peter, Chairman and CEO of NVG stated, "Nass Valley Gateway will focus immediately on the exploration of these gold properties under its mandate to pursue the exploration of precious metals, in addition to the development of its exportable aggregate products."

Dr. Stewart A Jackson, P. Geol., a "Qualified Person" as such term is defined by National Instrument 43-101, has reviewed and approved the technical information in this news release on behalf of Nass Valley Gateway Ltd.

Buckingham Exploration Inc. options new property and completes disposal of Colorado subsidiaries

Buckingham Exploration Inc. announce that it has optioned the Lady Ermalina Chemainus Claims on Vancouver Island. The option calls for an immediate payment of cash and shares and staged payments in future years. Specifically, Buckingham agreed to issue an aggregate of 600,000 shares of common stock of the company and to pay an aggregate of $5,000 in cash in consideration for the grant of the sole and exclusive right and option to acquire a one hundred percent undivided interest in the claims. In addition, Buckingham has to incur not less than $600,000 in expenditures on exploration and development of the property before January 6, 2012.

These claims cover 550 hectares of ground on a NW trending section of the Sicker formation (a strong exploration target for VMS Copper/Lead/Zinc deposits). The property is easily accessible by logging roads for a drill program and has a major power line traversing the project.

Buckingham is further pleased to announce that it has finalized the sale of its two Colorado subsidiaries to Regal Uranium Inc. for $550,000 and repaid the $500,000 debenture secured by these properties.

The company continues to maintain its office and coordinate its operations from its head office in Canon City, Colorado and is actively looking to acquire further properties and additional funding for these projects. Please visit Buckingham's website at www.buckinghamexploration.com to view updated information with regards to the company's activities

Tuesday, February 2, 2010

Copper Fox acquires 100% interest in Schaft Creek Project

Copper Fox Metals Inc. announce that Teck Resources Limited ("Teck") has transferred its ownership in the Schaft Creek Project to Copper Fox pursuant to an agreement between the parties dated January 1, 2002 (the "Agreement"). The Schaft Creek Project comprises the Liard, Paramount and West Breccia mineral deposits (the "Schaft Creek deposit") contained within the 21,025 contiguous hectares (or 51,954 acres) of land conveyed by Teck. Copper Fox has also acquired 3,947 hectares of land for mine planning and access purposes bringing its total land holding to 24,972 hectares (or 61,706 acres) in the Schaft Creek area.

Copper Fox now holds a 100% interest in the Schaft Creek Project, subject to a 30% net proceeds interest royalty held by Liard Copper Mines Limited ("Liard") and Teck's earn-back options. Teck owns 78% of Liard which equates to a 23.4% indirect interest in the Schaft Creek Project ("the indirect interest"). Under the Agreement Copper Fox can also acquire Teck's Liard shareholding (indirect 23.4% interest in the Schaft Creek Project) by completing a Positive Bankable Feasibility Study (as defined in the Agreement) on the Schaft Creek deposit thereby increasing its direct and indirect ownership in the Schaft Creek Project to 93.4%. Teck may at any time elect to exercise its earn-back option and upon receipt of the Positive Bankable Feasibility Study on the Schaft Creek deposit, Teck must elect within 120 days to make an election to: i) exercise its earn-back option, ii) retain a 1% net smelter return royalty, or iii) receive shares of Copper Fox to a value of $1,000,000.

The earn-back options allow Teck the right to elect to acquire a 20%, a 40%, or a 75% project interest from Copper Fox by respectively incurring either 100%, 300% or 400% of Copper Fox's expenditures on the Schaft Creek project under the Agreement. In the event Teck elects to earn-back a 75% interest in the Schaft Creek Project, Teck will also be responsible for arranging Copper Fox's share of project financing.

"This transaction represents a milestone achievement for Copper Fox says Elmer Stewart CEO and President. The Copper Fox team is working "flat out" to complete the feasibility on this large copper, gold, molybdenum and silver resource by the latter part of 2010. The critical path required for development of the Schaft Creek deposit is finding considerable support from the Government of British Columbia, the Tahltan First Nation and local communities for developing the infrastructure necessary, such as the recently announced Northwest transmission power line which is key for the development of Schaft Creek".

Nebu Reports Assay Results, Updates Timmins West Gold Area Exploration Progress

Nebu Resources Inc. provides the following update on exploration activities on its Denton Township projects adjacent to properties held by Lakeshore Gold Mines Inc., approximately 30 kilometers southwest of Timmins, Ontario.

The Company holds two properties in the area, one of which has been the subject of recent diamond drilling while the other has been the subject of initial exploration and is now ready for drill testing.

North Denton

In December 2009 the company completed the acquisition of a group of claims (initially known as the North Denton Extension) resulting in a significant expansion of the Company's land holdings. In addition, the Company recently increased its interest to 100%, in its entire North Denton holdings, when the optionor converted its 10% interest to a 1% Net Smelter Return.

In December 2009, drilling resumed in the area of high-grade gold mineralization reported in its November 30, 2009 press release, to continue evaluation of this area of gold mineralization. Since that time 6 holes have been completed in the high-grade target area and assay results have been received for some of the holes.

The vein or veins appear to have been intersected in all of the recently completed drill holes with the highlights from recent assay data including the results from drill hole DE-09-26 that include core length intervals of 1.5 metres assaying 1.85 g/t and 2.6 metres averaging 3.03 g/t in the vein zone and a deeper intersection averaging 17.18 g/t over a core length of 3.2metres near the contact of the diorite intrusion.

While the latter intersection is deeper, it should be noted that this intersection is still less than 120 metres below surface, whereas much of Lakeshore Gold's recent success has resulted from drilling holes to depths of more than 700 metres vertically.

Other intersections of note in the vein zone include a 2.3 metre core length in drill hole DE-09-23 that assayed 5.48 g/t gold at a vertical depth of approximately 95 metres and a 0.5 metre core interval in drill hole DE-09-21 that assayed 8.97 g/t gold at a depth of approximately 115 metres representing the deepest drill intersections to date on the vein zone. Drilling is considered to be at the grass roots exploration stage and quite favourable given the early stage of exploration on the property. Additional drilling is underway in this area to more fully evaluate this zone of mineralization and drill results and assays will be reported as they become available.

Also on the North Denton Property, the Company completed two drill holes at the Fred's pit area where historic mining of roughly 1000 tons of ore averaged 0.14 ounces per ton gold to a depth of only a few metres. Drill hole DE-09-11 drilled at -45 degrees intersected the gold mineralized zone 35 metres from surface, assaying 4.87 g/t gold over a core length of 1.3 metres while drill hole DE-09-12 drilled from the same setup at a -65 degrees intersected the same zone at a vertical depth of 90 metres and assayed 1.36 g/t over a 1.5 metre core length. The zone remains open to further expansion along strike and to depth.

On the eastern part of the property, the Company completed 10 drill holes testing areas of strong quartz carbonate tourmaline and sulphide mineralization in an area approximately 300 metres by 200 metres. All holes intersected areas of strong alteration comprised of carbonate, silicification, and quartz ankerite tourmaline veining as well as sulphide mineralization consisting of pyrrhotite, pyrite and minor chalcopyrite. While anomalous gold results were encountered, no economic values were encountered in the initial drilling.

Brian Murray, President and CEO commented: "We continue to be very encouraged by the latest results, particularly given the grass roots exploratory nature of our program and the near surface depths at which we are drilling. We are continuing our drill program with both drill rigs in operation for the foreseeable future."

South Denton

The company reports has now completed preliminary exploration programs on its 100% owned South Denton Property, which covers more than 2 kilometres of the interpreted location of the regionally extensive and extremely important Destor Porcupine Fault. Most of the gold mineralization in the Timmins gold camp is located proximal to this important structural feature. No drilling has ever been completed on the largely overburden covered property although drilling to the north of the property boundary on land now held by Lakeshore Gold Mines Inc. intersected gold mineralization at a number of locations including in proximity to the mutual property boundary.

Work by the Company included line cutting, geological mapping, magnetic and induced polarization (IP) surveying. These programs successfully outlined favourable rock types for gold mineralization, strong shearing and alteration in proximity to buried IP anomalies that may be caused by the presence of increased sulphide concentrations, not uncommon to zones of significant gold mineralization and similar to the signature of the gold mineralization identified on the Lakeshore Gold property just to the north.

A number of significant targets have been identified and drill testing of these features is the only way to properly test their potential to host gold mineralization. The Company intends to initiate drill testing of the high priority targets on the property later in the month with at least six holes planned in widely spaced areas of the property.

Alix Acquires Claims in B.C. With 2.04% Rare Earth Oxides Across 15 Meters

ALIX RESOURCES CORP. has entered into an agreement to acquire a block of claims totalling approximately 450 hectares in British Columbia which host a historic BC Minfile Rare Earth Oxide (REO) occurrence. BC Minfile reports that "a sample of chips taken at random across a 15 metre section returned... 2.04%REO" (Minister of Mines Annual Report 1965 p.266).

The second claim block consists of 2,100 hectares contiguous to and adjoining ground recently acquired by International Montoro Resources Inc. (TSX-V.IMT) and 1 kilometre from Spectrum Mining Corp's recently reported rare earth discovery. These claims are located approximately 80 km northeast of Prince George, B.C. and are northeast of Spectrum's "Main Showing".

In late October, Spectrum Mining reported significant rare earth element mineralization on its Wicheeda carbonatite-syenite breccia intrusive complex rare earth discovery. Highlights of Spectrum drilling included a 48.64 metre interval which averaged 3.55% rare earth elements ("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. In 2009, eleven NTW diamond drill holes totalling 1835 m were drilled in the "Main Zone" from 2 new drilling platforms on Wicheeda. Spectrum reported that all eleven drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions.

To acquire 100% of these claims Alix will pay to the vendor $1,500 plus 500,000 common shares of Alix Resources, subject to TSX Venture approval.

REO's are members of the Oxide Class and contain, as a significant portion of their chemistries, members of the so called rare earth elements (REE's). REE's are critical components in many high-tech applications including hybrid motor vehicles, flat screen monitors, high-power magnets, consumable electronics (Blackberries, iPods, DVDs, cellular phones), green energy technology, fibre optics, super alloys for the aerospace and building industries, medical and dental lasers, the use in high-tech strategic military and defense weaponry. Although demand for REE's is growing rapidly, over 90 percent of global production is controlled by China, which has recently imposed restrictions on their exports.

Alix also announces that John Oness has resigned as a director and wishes him well in his future endeavours.

The company is pleased to welcome John Masters to the board. Mr. Masters is currently the Chief Financial Officer of Geo Minerals Ltd., has years of experience with public companies and is an integral part of the day to day operations of Alix.

Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders. For further information we invite you to visit us at www.alixresources.com.

Monday, February 1, 2010

Terra Announces Acquisition of Alberta Oil Assets

Terra Ventures Inc. announces that its newly incorporated and wholly-owned Calgary based subsidiary, Terrex Energy Inc. ("Terrex"), has entered into a purchase and sale agreement to acquire a 100% interest in a basal quartz oil pool in central Alberta from a private oil and gas company, for a purchase price of $650,000. The pool is currently producing approximately 80 barrels of oil equivalent per day and has produced nearly 5 million barrels of oil to date. The management of Terrex has assessed that this asset has the potential for significant undeveloped long term oil exploitation and is the first step in a larger acquisition and exploitation business plan. Terrex activities will provide an attractive compliment and diversification to the Company's existing operations.

The Company plans to use Terrex to carry out its proposed spinoff transaction that was originally announced on November 26, 2009. The Company has appointed Kim Davies and Harry Knutson as directors of Terrex and has appointed Norm Knecht Chief Financial Officer. Mr. Knutson is the Chairman of Nova Bancorp Group, an investment banking firm he founded in 1982. He is also a director of Bonavista Energy Trust and Pure Energy Services Ltd. Ms. Davies and Mr. Knecht have extensive oil and gas experience, both having served in a variety of senior positions over the past 15 years. Ms. Davies served as Vice President of Exploration and New Ventures at Compton Petroleum from 1996 until 2006. Mr. Knecht served as Chief Financial Officer of Compton Petroleum from 1997 until 2009. Terrex will add to its management team before completion of the spinoff transaction.

The Company has entered into a letter agreement with Terrex whereby the companies have agreed to work to complete the spinoff transaction, including the completion of additional financing for Terrex. The spinoff transaction will be effected by way of a statutory plan of arrangement pursuant to which all of the Company's shares in Terrex will be distributed to its shareholders. It is a condition of the spinoff transaction that the shares of Terrex be listed on a stock exchange at the time the transaction is completed. The spinoff transaction is subject to approval by Terra's shareholders and the TSXV. Terra expects to be able to complete the transaction before the end of March, subject to receipt of all required approvals.

First Quantum Minerals Ltd. Announce Issuance of New First Quantum Shares

First Quantum Minerals Ltd. announced that following the successful completion of the acquisition of Kiwara PLC, an application was made on Friday January 29, 2010 to the London Stock Exchange plc for the New First Quantum Shares to be admitted to trading on the Official List. Furthermore, application has been made to the TSX for the New First Quantum Shares to be admitted to trading on the TSX. These shares will rank pari passu with First Quantum's existing ordinary shares. 1,864,960 New First Quantum Shares will be admitted to trading on the Official List and the TSX at 8.00 a.m. local time on 1 February 2010.

Any capitalised term used but not defined in this announcement is as defined in the shareholder circular relating to the Scheme dated 18 December 2009 (the "Scheme Document").