Jaguar Mining Inc. provided a preliminary update on its fourth-quarter and full year 2011 operating performance. Full year highlights include record total gold production of 155,764 ounces, up 13 per cent year over year; total gold sold increased by 10 per cent compared to 2010; total underground mine development of 24.8 km, up 32 per cent percent year over year; underground infill drilling totaled 79,232 meters, up more than 400 per cent year over year. In early January, Jaguar received the installation license which authorizes the construction of the processing plant for the Gurupi open pit mine project in Northern Brazil.
PetroNova Inc. , a company engaged in the exploration and development of oil and natural gas resources in Colombia, today announced an oil discovery at its Puerto Gaitan 1 exploratory well located on the CPO-06 Block (in which PetroNova has 20 per cent working interest) in Colombia's Llanos Basin.
Sprott Resource Corp.'s subsidiary One Earth Farms Corp. provided an update regarding its operations and 2012 outlook. While One Earth Farms is not expected to have significant external financing needs in 2012, it is anticipated that external financing will be required for 2013, which will be a function of the company's financial performance in 2012 and growth expectations of both the cattle and crop divisions. The company's 2011 crop yields were below plan.
MBAC Fertilizer Corp. reported the results of an extensional and infill drilling campaign, aimed at testing the north-eastern portion of the Domingos target, located near its beneficiation plant at the Itafos Arraias Project. It said the measured and indicated mineral resource estimate for the project now totals 75.8 million tonnes grading 5 per cent P2O5, up from the previously reported NI 43-101 measured and indicated mineral resource estimate of 58.8 million tonnes grading 5.0 per cent P2O5.
Chalice Gold Mines issued its Activity and Cash Flow Reports for the quarter ended Dec. 31, 2012. Quarterly highlights include: Chalice agreed to sell its remaining 60 per cent interest in the Zara Gold Project (Eritrea) for up to $100-million (U.S.) to China SFECO Group; terms of the sale of a 30 per cent interest to the Eritrean National Mining Corporation have been varied to align completion of the transaction to the SFECO sale transaction; Chalice to focus its exploration efforts at the Mogoraib North VMS project, 10km north of the Bisha Mine.
MedMira Inc., , a developer and marketer of rapid diagnostic technology and solutions, announced that it has entered into an agreement with Andurja Beteiligungen AG, a Swiss company based in Lucerne, Switzerland, for a $1-million (CAN) equity investment to be used for operations and further debt reduction. Andurja previously invested $2-million in the company in 2009, $1-million in 2010, and $1.5-million in 2011. Andurja is the controlling and majority shareholder of MedMira's strategic partner Vitest AG.
International Lithium Corp. announced it has discovered a high grade lithium, high density pegmatite boulder field on the company's 100 per cent owned rare metals Blackstairs project located 80 kilometres south of Dublin, Ireland. The high grade pegmatite boulder field discovered in a recently exposed area at Moylisha produced 4.59 per cent, 3.45 per cent and 3.27 per cent Li2O grab samples collected and indicates a potentially sizable, yet to be discovered buried pegmatite body.
Midas Gold Corp. announced today further assay results from its ongoing exploration and definition core and reverse circulation drilling program on the Hangar Flats and Yellow Pine deposits at its Golden Meadows Project. The company said the results "illustrate the potential for adding value to our gold mineral resource base through by-products from our discoveries on our Golden Meadows Project in Idaho."
Energy production company Hyperion Exploration Corp. today announced its 2012 capital expenditure program. The company plans to spend $43-million, including $37-million for the drilling, completing and tie-in of new wells. Average production guidance in 2012 is 1,600 to 1,700 boe/day compared to 950 boe/d in 2011, representing an increase of between 68 per cent and 79 per cent. Exit 2012 production is 1,800 - 2,000 boe/day greater than 65 per cent light oil/NGLs.
Century Iron Mines Corporation announced today new assay results, which tested a Direct Shipping Ore target as part of the 2011 fall exploration program at the Sunny Lake Project - Lac Le Fer property. Drilling will resume in May 2012 with a more powerful reverse circulation drill rig.