Alderon Strengthens Mining Team With Addition of Former Iron Ore Company Vice President as Chief Executive Officer

Alderon Resource Corp. is pleased to announce the addition of Mr. Tayfun Eldem, P.Eng. as the President and Chief Executive Officer of the Company effective as of September 7, 2011, at which time Mr. Mark J. Morabito will assume the role of Executive Chairman and Mr. Stan Bharti will assume the role of Vice Chairman.

Mr. Eldem has worked for the Iron Ore Company of Canada (“IOC”), a Rio Tinto subsidiary, for more than 20 years. During this period, Mr. Eldem has held many senior roles including Vice President, Expansion Projects & Engineering and Vice President, Operations & Engineering. Most recently Mr. Eldem was accountable for the development and delivery of a nearly $2.0 billion program of green and brown fields expansion projects. [Read more...]

Goldrich Starts Chandalar Gold Exploration Drilling

Goldrich Mining Company announces it has begun a diamond-core drilling program at its Chandalar gold property in Alaska.

The drilling program, which began last week, will test multiple targets with 25 to 30 angle holes averaging 500 feet, with some up to 750 feet.

Drilling will explore an established northeast trend of gold mineralization more than five miles long and a half a mile wide. Gold mineralization occurs where a series of northwest striking shear zones cut a northeast structural feature (folding). Gold with strong arsenic mineralization along this corridor is hosted within the broad shears and their enclosing metamorphic stratigraphy. The mineralized meta-sediments are black graphitic phyllites and chloritic schists, within the black phyllites exists peripheral to the gold mineralization, yielding a strong, northeast trending magnetic halo more than five miles long. [Read more...]

Metso to supply off-machine coater main parts for Ilim Group’s Koryazhma Branch mill in Russia

Metso will supply the main components for the coated woodfree paper line’s off- machine coater at the Koryazhma Branch mill of Ilim Group in Koryazhma, Russia. The start-up of the off-machine coater is scheduled for the fourth quarter of 2013. The value of the order is approximately EUR 20 million. The main part of the order is included in Paper and Fiber Technology’s second-quarter orders received and the automation package in Energy and Environmental Technology’s second-quarter orders received. [Read more...]

PC Gold Commences Preliminary Economic Assessment for Pickle Crow Gold Project

PC Gold Inc. is pleased to report that Micon International Limited (“Micon”) has been retained to complete a National Instrument 43-101 (“NI 43-101″) compliant preliminary economic assessment (“PEA”) on the Company’s Pickle Crow gold project, located in northwestern Ontario, Canada. Delivery of the completed PEA is anticipated by the end of the summer. In addition, discussions with candidates for the dewatering and rehabilitation of the mine are now also underway. [Read more...]

SouthGobi Receives Mining License for Soumber Deposit

SouthGobi Resources Ltd. announced today that the Mineral Resource Authority of Mongolia (MRAM) has issued mining license MV-016869 to its wholly-owned Mongolian operating subsidiary SouthGobi Sands LLC. The new license pertains to the resource previously disclosed by the Company under NI 43-101 standards as the Soumber Deposit. [Read more...]

Silvercorp Announces Share Repurchase Program

Silvercorp Metals Inc. intends to commence a Normal Course Issuer Bid to acquire up to 10 million common shares from June 29, 2011 to June 28, 2012, representing 5.7% of the Company’s 175,047,941 common shares currently issued and outstanding. The Company is taking this action because it believes that prevailing market conditions have resulted in Silvercorp’s shares being undervalued relative to the immediate and long term value of Silvercorp’s portfolio of producing and development properties in China and Canada. [Read more...]

Source Initiates Phase 1 Exploration Program on Arizona Property

Source Gold Corp. is pleased to announce the initiation of the Phase 1 Exploration Program on its 23 wholly owned Vulture Peak mineral claims offsetting the historically famous Vulture Mine in Maricopa County, Wickenburg, Arizona.

The Company is presently evaluating the potential of some other adjacent land acquisitions that may become available to the Company as indicated in recent discussions with owners. The properties have received a great deal of exploration in the past providing Source Gold with a complete set of data for immediate evaluation. [Read more...]

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