Gold Top Stories

Anaconda Mining to fill Newfoundland pit with Nova Scotia tailings

When the company's Pine Cove pit mine stops producing in…

GoGold sells stalled Mexico project to Agnico Eagle for $80 million

The sale of Santa Gertrudis has given GoGold much-needed cash…

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Creso options up to approximately 70% interest in part of the Shining Tree property to Hunter Dickinson in a $43 million deal

Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce that Hunter Dickinson Resources Ltd. ("Hunter Dickinson"), a subsidiary of Hunter Dickinson Inc., has signed an agreement to acquire up to a 69.95% interest in a portion of the Company's Shining Tree property position (the "Project") in NE Ontario. A binding letter agreement ("Letter Agreement") has been executed and is subject to, among other things, completion of due diligence ("Due Diligence") within 60 days.

Entree Gold further extends mineralization at Ann Mason, Nevada

Entrée Gold Inc. (TSX:ETG) has received assay results from three additional deep diamond drill holes on the Ann Mason deposit in the Yerington district of Nevada. Each hole returned long intercepts (584 m to 718 m) averaging 0.38% to 0.42% copper equivalent ("CuEq"). Higher grade intervals were also encountered. Hole locations and cross sections can be viewed at www.entreegold.com.

North American Palladium updates gold mineral reserves at Vezza project and Sleeping Giant project

North American Palladium Ltd. ("NAP" or the "Company") (TSX:PDL)(NYSE Amex:PAL) today released an updated mineral reserve and mineral resource estimate for its Vezza gold project and Sleeping Giant gold mine, located in the Abitibi gold district in Quebec. "We are pleased to see the Vezza gold project advance in accordance with the budget and timeline, as this supports our strategy to organically grow our gold division," said William J. Biggar, President and CEO. "Future growth will come from the continued exploration and development of our advanced gold projects in the Abitibi region, where we have a significant land position and an underutilized mill."

Wolverine plans to spend $5 million on Yukon properties

Wolverine Minerals Corp. (TSX-V:WLV) min is pleased to announce that after a comprehensive review of historical information and analysis of the results of last year's programs, it has now finalized its work program and budget for the 2011 field season on the Company's Yukon properties optioned from Strategic Metals Ltd ("Strategic"). Estimated expenditures will be approximately $5 million, with the majority of this work to be focused on eight of the Company's core properties. Through Archer, Cathro & Associates (1981) Limited ("Archer Cathro"), all crews, camps, equipment, drills, helicopters and other necessary supplies have been arranged and the following programs will begin on June 1, 2011: Image by Wolverine Minerals Corp.: DDD-Shamrock property.

Brigus grows new gold-rich zone, mobilizes drills at Black Fox mine

With six drillholes confirming high-grade gold over 250 metres of strike in a recently discovered area at the Black Fox mine in the Timmins district, Canada, Brigus Gold (TSX: BRD) dedicated all drilling resources on site to the new prospect that it's calling the 147 zone. On news of the quickly growing gold zone Brigus' shareprice gained over three percent and was trading at C$1.48 at presstime.

Barrick’s Q1 earnings rise 22 percent to $1.0 billion

Barrick's Q1 earnings rose 22% to $1.0 billion, up from $820 million a year ago. The company, which released its quarterly financial results on Wednesday, said the rise was due to better than expected production results and higher prices for copper and gold. Barrick's earnings per share were an even $1.00. The total cash cost per ounce of gold is $437 while net cash cost is $308. Barrick said cash costs were ahead of budget due to higher production at its Cortez, Goldstrike and Veladero operations.

La Quinta enters LOI to acquire BC massive sulfide project with 171 g/t silver, 6.7% copper

La Quinta Resources Corporation (TSX VENTURE:LAQ) ("La Quinta") is pleased to announce that it has entered into a Letter of Intent (LOI) to acquire the Carruthers Pass, B.C. massive sulfide project from Cariboo Rose Resources Ltd. (TSX VENTURE:CRB) ("Cariboo Rose"). Under the terms of the LOI, the Company can acquire 90% of the project from Cariboo Rose over a six (6) year term by spending $2 million in work commitments on the project, and making payments of $470,000 cash and issuing 2 million shares of the Company's common stock to Cariboo Rose.

Healthy gold, bonanza silver drilling at Troy’s Argentinean project

Troy Resources NL (ASX & TSX: TRY) disclosed today that follow up drilling on the Kamila South East zone produced more significant results from the high grade Inca Vein. An earlier assay produced 14.7 metres grading 7.79 grams/tonne gold and 1,292 g/t silver (26.24 g/t Au equivalent), and subsequent drilling produced more positive results.

Colossus Minerals drills 7.30 metres at 1494.7 g/t gold, 516.6 g/t platinum and 558.9 g/t palladium in extensions of central mineralized zone at Serra Pelada, Brazil

Colossus Minerals Inc. (the "Company" or "Colossus")(TSX:CSI) is pleased to announce additional assay results from the 25,000 metre surface drilling program at the Serra Pelada Gold-Platinum-Palladium Project, the Colossus-COOMIGASP Joint Venture located in Para State, Brazil. "Drilling such high-grade gold, platinum and palladium approximately 700 metres down plunge from the outcrop of the Central Mineralized Zone in the historic Serra Pelada pit continues to demonstrate the robustness of this mineralized system," commented Ari Sussman, Colossus CEO. "We wait with great anticipation for early 2012 when construction of the underground decline advances to the point that enables the Company to see the Central Mineralized Zone first hand and extract the first of three 2,500 tonne bulk samples from it."