Timmins Gold Corp. edged closer to a year high $2.99 after announcing that additional mineralized zones were intercepted during the month of July, 2011 from the ongoing drill program at its San Francisco mine open pit gold mine in the state of Sonora, Mexico. The company said during July it completed 95 drill holes totalling 20,103 metres of drilling. It said drill results have confirmed that the mineralized zones continue both beneath the currently planned pit bottom and outside the perimeter of the currently planned pit limit. A series of holes drilled on the south wall of the pit confirmed the up dip continuity of the mineralized zones recently intersected beneath the currently planned pit bottom. Timmins said drilling at the La Chicharra open pit which is two kilometres from the San Francisco pit also intersected gold mineralization. Results from the La Chicharra drilling will be released shortly. The company is completing an aggressive 100,000 meter exploration program which commenced at the beginning of July, 2011 and is expected to be completed at the end of the calendar year.
Habanero Resources edged up on very heavy trade on the TSXV after announcing that it has completed the first phase of work on the Haldane Prospect. At the Johnson Adit, a select sample of strongly oxidized, breccia mineralization from the underground rock dump returned 2,520 g/t Ag 1.6 g/t Au and greater than 20 per cent Pb. A similarly oxidized sample from the Middlecoff Zone rock dump returned 1,220 g/t Ag, 0.97 g/t Au, 6.5 per cent Pb and 0.44 per centZn. This sample contained 5-8 per cent remnant galena.
North American Nickel was down 1.5 cents and edging toward a year low of 13 cents – with more than 2 million shares traded on the TSXV – after saying Monday it has commenced exploration on the "extensively" mineralized Bell Lake quartz diorite offset dyke.
PetroMagdalena Energy touched as high as $1.24 early Tuesday after announcing it has discovered a new light oilfield with the Petirojo-1 discovery well, with the well currently producing 1,545 bopd of 40 degrees API light oil after 13 hours of initial production test. This represents 1,080 bopd gross working interest share for the company, which is just under half of its current production.
Poynt Corporation announced Tuesday the release of a new version of its local search application Poynt on the BlackBerry Playbook tablet for use in Germany, France, Spain, and Italy in their respective languages. The company said Playbook tablet users in Europe now have access to the events search vertical allowing them to search for concerts, sporting events, festivals, and other local events and venues.
New Millennium Iron Corp. , which controls the emerging Millennium Iron Range, announced Tuesday that it ended the second quarter with a net loss of $2.8-million or $0.02 per share, up from the previous year's net loss of $878,000 or $0.01 per share. The company attributes the increase in its loss during the quarter to higher general and administrative expenses, professional fees, market development expenses, and stock based compensation.
International Northair Mines fell to as low as 25.5 cents after announcing Tuesday assay results from five diamond drill holes recently completed at its La Cigarra silver project, located in north central Mexico. The company said step out drilling continues to intersect silver values indicating a strong and potentially surface minable mineralized system comprised of the Las Carolinas and San Gregorio zones. Good exploration potential also exists to the northwest in the un-drilled intervening ground between the San Gregorio and La Borracha zones, the miner also noted.
Mad Catz Interactive Inc. , a global provider of innovative interactive entertainment products, said it will publish and distribute Jonah Lomu Rugby Challenge throughout North America for the Xbox 360 video game and entertainment system from Microsoft. The company said it expects to begin shipping the popular rugby franchise in September 2011.
Elgin Mining announced Tuesday that it ended the second quarter with a net loss amounting to $3.6-million or $0.07 per share after a loss from discontinued operations, share-based payments expense, and a non-cash adjustment to reclamation and remediation and other provisions. The company also had $46.7-million in cash and cash equivalents.
Jayden Resources reported on Tuesday assay results from 10 new holes from the planned 15,000 metre drilling program at Silver Coin. The exploration company said these new results have the potential to make a meaningful contribution to the next resource estimate and further demonstrate the significance of the high-grade gold component of the Silver Coin deposit.