Stornoway Diamond announced plans for an upcoming exploration drill program at the Hammer Property located within the Coronation Gulf/North Slave Diamond District of Nunavut.
The Hammer Property is a joint venture between Stornoway (75% and operator) and North Arrow Minerals Inc. (TSX VENTURE:NAR) (25% participating) and hosts the Hammer kimberlite, which was discovered by prospecting in July 2009.
Laurelton Diamonds, a wholly owned subsidiary of Tiffany, has purchased a Sarin Technologies Galaxy 1000 device for their inclusion mapping and diamond […]
Canada Lithium Corp. (TSX: CLQ; OTCQX: CLQMF) announced Monday that it has received a construction permit from the Municipality of La Corne, Que., for construction of surface service infrastructure at its Québec Lithium Project.
Image by Canada Lithium Corp.
Laricina Energy announced on Wednesday it intends to raise between $250m and $400m by selling common shares at $40 to $45 each in a private placement. Laricina was started by executives of Deer Creek Energy after it was sold to French oil giant Total in 2005 for $1.67bn.
Canada Pension Plan acquired 17% of the privately-held oil sands developer for $250m last year. This round of fund raising is expected to push back a possible public listing of Laricina to 2012.
Colombia Crest Gold Corp. (TSX VENTURE:CLB)(PINK SHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce the discovery of porphyry gold-style alteration in the first of nine target zones being explored on the Fredonia and Venecia properties (see news release dated April 12, 2011). Alteration mapping of the highest-priority target, now named "Arabia", has delineated an area of quartz-sericite-pyrite alteration with dimensions 700 meters east-west by 900 meters north-south which is surrounded by a halo of propylitic alteration.
Image by Colombia Crest Gold Corp.
Stillwater Mining Company (NYSE: SWC), commenting on today's significant strengthening in palladium and platinum prices, indicated that the market outlook for increasing demand and constrained production underlies the significant move in metal prices today.
Bloomberg reports gold may decline for a second day in New York as speculation that Greece’s debt crisis is closer to being resolved curbs demand for precious metals.
The market news is quoted as saying,
Palladium for September delivery was little changed at $781.50 an ounce. Platinum for July delivery was 0.2 percent lower at $1,830.80 an ounce.
Osisko Mining official inaugurated the Canadian Malartic gold mine, a large-scale open pit mine located in Malartic, Abitibi.
Canadian Malartic is Osisko's first mine to go into production. Osisko estimates it will extract more than 9 million ounces of gold at Canadian Malartic from now until 2027. The mine currently employs 465 people.
