PolyMet Mining Corp. announced that the Board of Iron Range Resources (“IRR”) has, on the commissioner’s recommendation, approved a secured loan to PolyMet of up to $4 million. The IRR board is composed of five members of the Minnesota Senate, five members Minnesota House of Representatives and three citizen members. The loan agreement between the IRR and PolyMet will provide funding from the Taconite Area Environmental Protection...
Canadian Arrow Mines, Ltd. (CRO: TSX-V) (the “Company”) reports it has commenced an updated economic review of its wholly owned past producing Alexo and Kelex deposits located 50 km east of Timmins, Ontario. The Company temporarily halted production due to low nickel prices in 2005 to review operating alternatives. Nickel prices have more than doubled since and attractive operating opportunities have recently developed that further enhance...
Melkior Resources Inc. has begun line cutting and ground geophysical surveying on seven grids designed to cover 9 separate electromagnetic conductors on its 100% owned Eldorado nickel property. The property is contiguous with Melkior’s Shaw Twp property and consists of 366 claim units or 5856 hectares and is located 20 kilometres southwest of Timmins city centre. A detailed VTEM survey by Geotech was completed in 2009. This led to the discovery...
Franconia Minerals Corporation announces that it has reached an agreement with the South Kawishiwi Association LLC, a group of nearby cabin owners who are exchanging surface lands with the US Forest Service for surface rights over a portion of Franconia’s Maturi mineral deposit. Under the terms of the agreement, Franconia reinforces its right to access the Maturi Cu-Ni-PGM deposit – via a defined easement – in order to conduct further...
Golden Goose Resources Inc. announces that it has received notification from Nemaska Exploration Inc. (“Nemaska”) that subsequent to closing of their initial public offering (“IPO”), Nemaska intends to exercise its option for the purchase of the Lac Levac property, located 216 km north of Chibougamau in the James Bay area of northern Quebec, on or before December 31st, 2009. The option, originally granted on August 12th and...
Fortune Minerals Limited announce that it has retained BNP Paribas to provide advice and financial services in connection with the arrangement of a US$ 200-250 million debt facility to finance the construction, start-up and operation of the Company’s NICO Gold-Cobalt-Bismuth-Copper development in the Northwest Territories. Based in Paris, France, BNP Paribas is a world class financial institution and leader in global banking and financial services....
Royal Roads Corp. and Benton Resources Corp. announce awarding a drill contract to commence diamond drilling of the recently discovered copper sulphide zone on the Long Range Joint Venture property in central Newfoundland. The contract has been awarded to Logan Drilling of Stewiacke, Nova Scotia and is expected to commence the week of October 12, 2009. The program is expected to include two drill holes designed to test a 400 to 600 metre long conductive...
Commerce Resources Corp. report that it has initiated its summer field work program at the Eldor Project, located in the Labrador Trough area of northern Quebec, Canada. The program will include mapping, prospecting, and rock and trench sampling and is designed to test some of the areas that were identified in 2008 with high values of rare earth elements, tantalum and niobium as well as new prospective areas nearby. In particular, work will focus...
The Directors of PROBE MINES LIMITED announce that mobilization of field crews will commence in the next few days to begin the Company’s summer drilling campaign on its McFauld’s Lake properties. The first phase of drilling will be focused on the joint venture project with Noront Resources (TSX-V: NOT) of which Probe is Operator. Recent Geophysical data has delineated a highly prospective horizon for chromite, which is interpreted to be...
Mustang Minerals Corp. announced that a drill program at the East Bull Lake Project located 80 km west of Sudbury is commencing. The East Bull Lake Project is a joint venture with Western Areas NL, designed to investigate nickel-copper-platinum group metal (PGM) targets identified in the geophysical program. It is expected that three targets will be drilled in the current program. At East Bull Lake an apparent 20 km long mafic intrusive complex consists...
Pacific Energy Development and Blast Energy Services Sign Merger Agreement
Pacific Energy Development Corp. (“PEDCO”), a privately-held oil and gas company engaged...
Silvore Fox Updates Progress on Winston Lake and Coxheath
Silvore Fox is pleased to announce that they have received the results of the Geotech Ltd VTEM...
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