News Article | December 6, 2016
WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - Dec. 6, 2016) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces it has entered into a definitive option agreement with Ely Gold and Minerals Inc. ("ELY") (TSX VENTURE:ELY) (the "Option") through their respective wholly owned U.S subsidiaries to acquire a 100% interest (subject to underlying royalties not to exceed 3%) in the Green Springs Property, located in eastern Nevada. Adam Travis, Colorado President and CEO states; "The Green Springs acquisition provides us with a year round exploration opportunity in the top gold mining jurisdiction in the world, adding to our portfolio of significant holdings in the Golden Triangle of northwestern B.C. We have the opportunity during the winter and early spring prior to our 2017 B.C. field season to drill test along strike and beneath a past producing mine*, that has seen little modern day exploration since mining occurred in the late 1980's. Potentially higher grade feeder structures in the underlying Pilot shale, which have been recognized as important hosts elsewhere in Nevada also provide a compelling target. Numerous jasperiod bodies to the east of the historical mining location have returned > 1 g/t gold* from surface samples and have never been drill tested. Field due diligence work is ongoing and we can quickly transition from surface work into initial drill testing as soon as permitting allows." The Green Springs Property consist of 193 unpatented claims (1,416.2 hectares) held or under option by ELY (the "Green Springs Property") and is located in the eastern Great Basin approximately 50 miles south of Kinross 's Bald Mountain/Alligator Ridge Mine** and 35 miles west of Ely Nevada. It is a classic Carlin-style gold system that represents part of a growing number of Carlin-type systems and new discoveries located outside the main Carlin and Cortez camps in largely underexplored parts of Nevada. From 1988- 1990 U.S Minerals Exploration Company ("USMX") mined 1.1 million tons at an average grade of 2.1 g/t gold at a 0.7 g/t Au cut-off from three shallow pits at Green Springs with heap leach recoveries estimated at 80 %***. Mining occurred at shallow depths (typically <30 m) from the Lower Chainman shale formation. At least three other zones were left un-mined when in 1988 USMX elected to move their mining operations. Green Springs sat idle from 1990 with only minor surface programs completed between 2004 and 2008, until it was acquired by Ely Gold in 2013. Ely later consolidated holdings in the district by acquiring surrounding ground held by Bronco Creek Exploration Inc. (a subsidiary of Eurasian Minerals Inc.) and completed and Environmental Assessment ("EA") over 324.2 hectares of the Property. This EA will allow exploration and drillhole permitting to be expedited in the main areas of interest. In 2015 Ely Gold completed 14 reverse circulation ("RC") holes totaling 2,065 metres with 8 out of 14 drillholes returning > 1 g/t gold intercepts. Drillhole GS15-06 drilled in the un-mined "E Zone" returned 41.1 m of 4.57 g/t Au and bottomed in 1.52 metres of 1.66 g/t Au (at depth of 105.2 metres)*. This hole has never been followed up. Pursuant to the terms of the Option subject to TSX Venture Exchange ("Exchange") approval, ELY has granted the exclusive option to Colorado to acquire ELY's 100% interest in and to the Green Springs Property by making the following payments and share issuances over 4 years: There are no work commitments or additional expenditures required other than Colorado's obligation to maintain the underlying agreements and claim maintenance fees per year of approximately US$50k. Upon Exchange approval and the satisfaction of customary closing conditions the transaction is anticipated to close within 5 days of Exchange approval. Dr. Jim Oliver, Ph.D, P. Geo is the Qualified Person as defined by National Instrument 43-101 who supervised the work program and/or preparation of the technical data in this news release. Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and is also seeking opportunities in Southwest USA and Latin America. Colorado's current exploration focus is to continue to advance: the KSP property currently under option with Seabridge Gold Inc., located 15 km's along strike to the southeast of the past producing Snip Mine*; its 100% owned Kingpin property; its 100% owned North ROK property, located 15 km's northwest of the Red Chris** mine development, both located in northern central British Columbia. ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD. *Historical information contained in this release cannot be relied upon as the Company's QP, as defined under NI-43-101 has not prepared nor verified the historical information and are treated as historical exploration information **This news release contains information about adjacent properties on which Colorado has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties. ***Sourced from: Wilson, et al, 1991. Geology and Geochemistry of the Green Springs Gold Mine, White Pine County, Nevada in Raines, GL, Lisle, RE, Schafer, RW and Wilkinson, WH, eds. Geology and ore deposits of the Great Basin - Symposium proceedings: Reno, Geological Society of Nevada, p. 687-700. Certain statements contained in this news release, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Management's Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Article | February 10, 2017
Using fragments of radioactive glass picked up from the site of the first nuclear bomb explosion in the United States, scientists are trying to explain the mystery behind the formation of the moon and the properties of lunar rocks. The study by researchers from the Scripps Institution of Oceanography at the University of California, San Diego used materials from the Trinity test site in New Mexico to show that the explosion could be similar to a collision between proto-Earth and a Mars-sized object 4.5 billion years ago. The current theory on moon formation is that a Mars-sized object called Theia bombarded the Earth and the ejected mass converged to form the moon. The impact would have produced massive amounts of extreme heat that drove volatile compounds out of the space rocks that formed the moon. The scientists set out to prove how moon formation could be caused by high-temperature processes by analyzing the nuclear test site residue, which was formed from the same conditions as the planetary collision. In the extreme heat of the blast on July 16, 1945, the top layer of the sandy soil melted into a green silicate glass. The radioactive glass, which was given the name trinitite, was spread across a radius of 1,150 feet from the detonation point. For the study, James Day, director of the Scripps Geochemistry Isotope Laboratory, and team studied trinitite samples from various locations and depths ranging from within an average of 30 feet to 800 feet within ground zero. Day and colleagues found that trinitites from the nuclear test site were short on volatile compounds such as zinc and water. The team chose to analyze zinc isotopes because zinc boils off in extreme heat, such as that generated by the supposed collision that formed the moon. Based on the analysis, the trinitite samples obtained nearer to ground zero carried less zinc than samples from farther away. Also, the zinc that was left only had heavy isotopes, which do not normally evaporate. The deprivation of volatiles from the samples, especially in trinitites close to the site of the explosion, was the result of vaporization under high temperature, the researchers said. "The results show that evaporation at high temperatures, similar to those at the beginning of planet formation, leads to the loss of volatile elements and to enrichment in heavy isotopes in the leftover materials from the event," said Day. He said the theory has now been backed up by experimental evidence. Their findings led the researchers to believe that the mighty collision must have been a high-temperature event and that evaporated most volatiles, like what happened with the trinitite samples in the nuclear test site. Day said the new study has given them the confidence that they're going in the right direction in terms of interpreting the data on the lunar rock samples brought home by the Apollo astronauts. The lunar samples also have the same volatile-loss signatures as trinitite. © 2017 Tech Times, All rights reserved. Do not reproduce without permission.
News Article | February 15, 2017
Diatoms are a very common group of algae found not only in freshwater streams, rivers and lakes, but also in marine waters. These unicellular organisms are particularly prevalent in the waters of the Southern Ocean around Antarctica. Given an adequate supply of nutrients and light, diatoms can multiply with such explosive force that they create an algal "bloom". During their rapid growth cycle, diatoms absorb huge amounts of trace elements and nutrients from the surface water layer, especially silicon to form their shells, and zinc, which plays a vital physiological role in their development. The heavy depletion of nutrients caused by the algal bloom is most prominent in the uppermost water layer and affects the chemistry of many of the world's major oceans -- a phenomenon described by a team of researchers led by Derek Vance, Professor of Geochemistry and Petrology at ETH Zurich, in an article published recently in the academic journal Nature Geoscience. Researchers can monitor the mass reproduction of these organisms by examining the depth profiles of zinc and silicon concentration in the seawater of different oceans: the profiles are identical for both elements, with a significant depletion in the top kilometre of the water column. The conclusion of the study is that that this is caused by the the biological activity of the diatoms in the surface layer around Antarctica, followed by the transport of the resultant nutrient-depleted water masses to other parts of the ocean in currents. Depleted of nutrients, the uppermost layer of the water flows in the direction of the Equator. As it reaches a latitude of around 45-50 degrees, it sinks below a warmer surface layer. This middle water layer extends well into the northern oceans and does not mix completely with other layers, and therefore remains starved of nutrients. Not all the surface water around Antarctica flows towards the Equator. Very near the Antarctic continent itself surface waters become very salty and dense due to the formation of sea ice. This dense water sinks into the abyss. The algae that bloom at the surface often end in a type of mass death once all the nutrients have been exhausted. They then sink into this deep ocean. As they sink some diatoms are also "packed" into particles excreted by tiny sea creatures and, in the ocean's depths, the cells decompose and release zinc and silicon back into the seawater. Deep ocean currents that travel northwards transport the trace elements 5000 metres below the surface. This allows the zinc and silicon to replenish. The bottom water flows in a wide loop in the direction of the Equator and back towards Antarctica, where the vertical upwelling transports the enriched nutrients to the light-flooded water's surface, allowing the diatoms to begin a new reproductive cycle. The idea of coupling the lifecycle of diatoms with the dominant currents of the Southern Ocean also allows the researchers led by Professor Vance to resolve the paradox that the depth profiles of silicon and zinc are similar, even though the two substances are required for different parts of the cells. Zinc is needed for enzymes in the organic part of the cells, while silicon is used to form the inorganic shell. The organic part of the diatoms would be expected to decompose close to the water surface, and the inorganic shell in the lower water layers. This should theoretically produce different depth profiles - but such a phenomenon is not observed. Researchers believe this is because the decomposition of the dead cells does not occur in the surface water, but only once these cells have sunk to a medium depth. At this level, both the organic and inorganic components decompose and the two trace elements are released in the same water mass. Exactly why diatoms take up relatively large amounts of zinc, even though they need very little, is not yet clear, according to the ETH professor. One possible explanation is that the organisms have transport proteins that convey the essential nutrient iron into the cell. Seawater contains very little iron, however. "To be able to absorb as much iron as possible, these transport proteins are possibly hyperactive. As a side-effect, they also take up (non-specifically) metal ions that are twofold positively charged, including zinc," explains Professor Vance. Understanding how the diatoms affect nutrient cycles in the world's oceans helps scientists to assess the potential consequences of climate change. "If global warming causes the temperature to rise or saltcontent of seawater todrop, the ocean currents and the distribution of trace elements and nutrients might change as well, which would in turn affect diatoms and their biological activity" Professor Vance stresses. Vance D, Little SH, de Souza G, Khatiwala S, Lohan MC, Middag R. Silicon and zinc biogeochemical cycles coupled through the Southern Ocean. Nature Geoscience Advance Online Publication 06 February 2017. DOI: 10.1038/ngeo2890
News Article | February 21, 2017
BURLINGTON, ON / ACCESSWIRE / February 21, 2017 / Green Swan Capital Corp. (TSX-V: GSW) has added to its portfolio of low cost, highly prospective mining assets in high quality mining jurisdictions. This acquisition consists of 33 mining claim units contained with 4 claim blocks in Otto Township, Larder Lake Mining Division, in Ontario (the "Otto Assets"). The Otto Assets lie roughly eight kilometres southwest of Kirkland Lake and proximate to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available. The Otto Assets can be directly accessed off the TransCanada Highway through the town of Swastika. Green Swan's CEO, Peter M. Clausi, said, "Our team took an undervalued forgotten cobalt/gold asset in Sudbury and created a great real shareholder value from it. We intend to do the same with the Otto Assets." The most recent work on the Otto Assets was a soil geochemistry report in 2012. Gold, palladium, copper, zinc, nickel, and lead values were returned. Page 11 of the report concluded: "Further prospecting and geochemical surveys to the northeast and a further extension along trend may be warranted. It appears that average background levels increased to the east, and several anomalies occurred at the northeast boundary of the sampling area." (MNDM Report, Soil Geochemistry and Prospecting on Claim Numbers: 4246905, 4250913, 4251194; Otto Township; Larder Lake Mining Division. L.Currah, 2012.) Green Swan has not performed any work on the Otto Assets, which have been explored by third parties since 1975. Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching, and soil sampling. Some but not all of the results from third party work are available to Green Swan. Green Swan cannot speak to the accuracy or thoroughness of historic work without further research and analysis. Green Swan purchased the Otto Assets from an arm's length prior owner who encountered challenges advancing exploration on them. One of the difficulties was an inability to enter into economic exploration agreements with local communities, including First Nations. That prior owner had applied for a permit to drill from 11 to 20 pads, conduct mechanical excavation, and carry out other mining-related activities, which permit has been stalled for some time in the Ontario Ministry of Northern Development and Mining. The Otto Assets are on "Special Status" pending the resolution of the permit application, but in Green Swan's opinion, it was highly unlikely the former owner would have been able to successfully advance its permit. Green Swan's management has much experience in dealing with the Ontario permitting process, and believes it can successfully advance the permit process with local communities, First Nations and MNDM. Green Swan is unable to state how long this process will take or what resources will be needed. However, as with its Sudbury cobalt-gold asset, Green Swan has demonstrated an ability to source and acquire lower visibility mining assets that can generate significant shareholder value. The consideration for the acquisition is the granting of a 10-year Net Smelter Returns Royalty, at 3% for the first 200,000 ounces of gold and 2% thereafter. During the term of the Net Smelter Returns Royalty, if Green Swan files a NI43-101 compliant resource estimate of at least one million ounces of gold grading at least 2 grams of gold per tonne, Green Swan will at that time immediately owe the vendor a one-time payment of USD$250,000. This acquisition is an Exempt Transaction and stock exchange approval was not required. Green Swan intends to continue acquiring highly prospective assets in good mining jurisdictions, and is focusing on cobalt acquisitions. Green Swan Capital Corp. is a Canadian mineral exploration company with a proven leadership team. Green Swan is well-poised to further deliver real value to its shareholders. On Behalf of the Board of Directors, GREEN SWAN CAPITAL CORP. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Article | February 21, 2017
The Otto Assets lie roughly eight kilometres southwest of Kirkland Lake and proximate to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available. The Otto Assets can be directly accessed off the TransCanada Highway through the town of Swastika. Green Swan's CEO, Peter M. Clausi, said, "Our team took an undervalued forgotten cobalt/gold asset in Sudbury and created a great real shareholder value from it. We intend to do the same with the Otto Assets." The most recent work on the Otto Assets was a soil geochemistry report in 2012. Gold, palladium, copper, zinc, nickel, and lead values were returned. Page 11 of the report concluded: "Further prospecting and geochemical surveys to the northeast and a further extension along trend may be warranted. It appears that average background levels increased to the east, and several anomalies occurred at the northeast boundary of the sampling area." (MNDM Report, Soil Geochemistry and Prospecting on Claim Numbers: 4246905, 4250913, 4251194; Otto Township; Larder Lake Mining Division. L.Currah, 2012.) Green Swan has not performed any work on the Otto Assets, which have been explored by third parties since 1975. Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching, and soil sampling. Some but not all of the results from third party work are available to Green Swan. Green Swan cannot speak to the accuracy or thoroughness of historic work without further research and analysis. Green Swan purchased the Otto Assets from an arm's length prior owner who encountered challenges advancing exploration on them. One of the difficulties was an inability to enter into economic exploration agreements with local communities, including First Nations. That prior owner had applied for a permit to drill from 11 to 20 pads, conduct mechanical excavation, and carry out other mining-related activities, which permit has been stalled for some time in the Ontario Ministry of Northern Development and Mining. The Otto Assets are on "Special Status" pending the resolution of the permit application, but in Green Swan's opinion, it was highly unlikely the former owner would have been able to successfully advance its permit. Green Swan's management has much experience in dealing with the Ontario permitting process, and believes it can successfully advance the permit process with local communities, First Nations and MNDM. Green Swan is unable to state how long this process will take or what resources will be needed. However, as with its Sudbury cobalt-gold asset, Green Swan has demonstrated an ability to source and acquire lower visibility mining assets that can generate significant shareholder value. The consideration for the acquisition is the granting of a 10-year Net Smelter Returns Royalty, at 3% for the first 200,000 ounces of gold and 2% thereafter. During the term of the Net Smelter Returns Royalty, if Green Swan files a NI43-101 compliant resource estimate of at least one million ounces of gold grading at least 2 grams of gold per tonne, Green Swan will at that time immediately owe the vendor a one-time payment of USD$250,000. This acquisition is an Exempt Transaction and stock exchange approval was not required. Green Swan intends to continue acquiring highly prospective assets in good mining jurisdictions, and is focusing on cobalt acquisitions. Green Swan Capital Corp. is a Canadian mineral exploration company with a proven leadership team. Green Swan is well-poised to further deliver real value to its shareholders. On Behalf of the Board of Directors, GREEN SWAN CAPITAL CORP. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Article | January 30, 2016
The Earth in its infantile years had once collided with a Mars-sized planet called Theia; and from this violent collision, the moon was born. Scientists are already aware of this high-speed collision which took place about 4.5 billion years ago, but many believe that the Earth crashed into Theia at an angle of 45 degrees or more. This suggests a powerful sideswipe that resulted to the formation of the moon. Now, a new study conducted by a team of researchers from the University of California, Los Angeles shows that the collision was a case of head-on assault. UCLA geoscientists analyzed rocks from the moon and the Earth: seven rocks brought to our planet from the moon by the Apollo 12, 15 and 17 missions, and six volcanic rocks from the mantle of the Earth, with five from Hawaii and one from Arizona. To reconstruct the giant impact that resulted from the collision, scientists looked into a specific chemical signature that was revealed in the rocks' oxygen atoms. Incidentally, oxygen comprises 90 percent of the volume of rocks and 50 percent of their weight. Scientists said more than 99.9 percent of the planet's oxygen is O-16, which takes its name from the sum of the eight neutrons and eight protons in its atoms. There are also small quantities of O-17, a heavier oxygen isotope. Earth, Mars and other celestial bodies in our own solar system have a unique ratio of O-16 to O-17, and this is their distinctive fingerprint. A 2014 report conducted by German scientists even suggested that the moon also has its own unique fingerprint, supposedly different from that of the Earth. The UCLA study, however, revealed that this is not the case. "We don't see any difference between the Earth's and the moon's oxygen isotopes," said Cosmochemistry and Geochemistry Professor Edward Young, the study's lead author. "They're indistinguishable." Young and his colleagues used advanced techniques and technology to make extraordinarily careful and precise measurements, and then verified these calculations with the university's new mass spectometer. He said the fact that oxygen in Earth and moon rocks share chemical signatures was very suggestive. Had Theia and Earth crashed in a sideswipe, the vast majority of the moon would have been made entirely of Theia, and the moon and Earth would have different oxygen isotopes. A head-on collision, on the other hand, would have most likely resulted in the Earth having a similar chemical composition with the moon. What's more fascinating is the fact that there is no distinguishable signature of Theia in the Earth versus the moon. Theia did not survive the crash, but it now makes up huge chunks of the moon and the Earth. "Theia was thoroughly mixed into both the Earth and the moon," said Young, adding that this "planetary embryo" was evenly distributed between the Earth and the moon. Had the crash not occurred, Theia would have even become a planet because it was also growing. Young and his colleagues believe Theia was nearly the same size of the Earth, while some believe it was smaller and approximately similar in size to Mars. Lastly, another question that the team looked into was whether the head-on collision with Theia removed any water that early Earth might have contained. Young and his team postulates that perhaps 10 million years after the collision, small asteroids likely hit Earth. Some of the asteroids may have been rich in water. Collisions of large bodies were definitely a thing back then, but lucky Mars always managed to avoid large collisions. The team's findings, which are featured in the journal Science, was first proposed in 2012 by several other scientists.
News Article | February 15, 2017
Davis, California, USA: The Geothermal Resources Council (GRC) has issued a call for papers for the world’s biggest geothermal conference of the year taking place October 1-4, 2017, in Salt Lake City, Utah, USA at the Salt Palace Convention Center. Themed “Geothermal Energy - Power to do More” the 41st GRC Annual Meeting will reflect the world-wide availability of a clean, dependable renewable energy that is available 24 hours a day, 365 days a year, providing both flexible and baseload power production. The GRC Annual Meeting is the industry’s largest annual gathering of leading geothermal energy scientists, producers, renewable energy industry stakeholders, regulators, utilities, and key associated business leaders. The four-day event will offer technical, policy, and market conference sessions, educational seminars, tours of local geothermal and renewable energy projects, and numerous networking opportunities. Registration also includes entry to the GEA GeoExpo+. Over 1,260 attendees came to the 2016 GRC Annual Meeting and GEA GeoExpo+ from around the world, highlighting the GRC’s role in connecting the global community. With increasing interest in geothermal as a reliable source of renewable energy providing both flexible and baseload power production around the world, the GRC is looking ahead to an even stronger international attendance in 2017. The GRC 2017 Annual Meeting planning committee will consider papers for its Technical and Poster Sessions covering a range of topics, both domestic and international: Business Development / Finance/ Market Analysis; Drilling; Direct Use / Heat Pumps; Emerging Technologies; Exploration / Resource Assessment; Field Operations / Production Technologies; Geology; Geochemistry; Geothermal Education and Community Engagement; Geothermal Energy and Mineral Extraction; Geothermal Energy Associated with Oil and Gas Operations; Geothermal Play Fairways; Geothermal Project Case Studies; Geophysics; Power Operations / Flexible Generation / Maintenance; Regulatory / Environmental Compliance / Policy Issues; Reservoir Engineering/ Reservoir Management/ Modeling / Enhanced Geothermal Systems; Sedimentary Basins; Utility and Transmission Issues; Country Updates (example: Kenya / Philippines); Regional Updates (example: Basin & Range / Cascades / Rocky Mountains). Successful selection to present at the GRC Annual Meeting is prestigious and recognizes the presenter as a top industry expert. International participation is key to the success of the technical programs, and geothermal researchers and experts from around the world are encouraged to submit their work for consideration to be presented at the GRC Annual Meeting. Anyone who wants to present at the GRC Annual Meeting must submit a paper. Authors may submit a poster and/or oral technical presentation. The paper submission deadline is April 28, 2017. Additional information about paper requirements and submission forms can be obtained by contacting the GRC at (530) 758-2360 or at http://www.geothermal.org. For information on how to sponsor this event, contact Estela Smith; GRC at (530) 758-2360 or grc(at)geothermal(dot)org. For more information about the GRC Annual Meeting in Salt Lake City, Utah, USA, visit http://www.geothermal.org/meet-new.html or call (530) 758-2360. For information about the GEA GeoExpo+ visit http://geothermalexpo.org or call (202) 454-5261. With the experience and dedication of its diverse; international membership bolstering a more than 45-year track record, the Geothermal Resources Council has built a solid reputation as the one of the world’s preeminent geothermal associations advancing geothermal development through education; research, and outreach. For more information, please visit http://www.geothermal.org. Get your daily geothermal news at Global Geothermal News [geothermalresourcescouncil.blogspot.com]. Become a fan on Facebook [ facebook.com/GeothermalResourcesCouncil]. Follow GRC on Twitter [@GRC2001 and #GRCAM2017]. Check out GRC’s YouTube Channel [ youtube.com/GeothermalCouncil]. See geothermal photos on GRC’s Flicker page. [ flickr.com/photos/geothermalresourcescouncil]
News Article | February 15, 2017
DENVER, COLORADO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 13, 2017) - Sandspring Resources Ltd. (TSX VENTURE:SSP) (OTCQX:SSPXF) ("Sandspring" or the "Company") is pleased to announce completion of the 2016 exploration program ("2016 Program") at its measured and indicated 6.9 million ounce resource Toroparu Gold Deposit ("Toroparu")(1) in Guyana, South America. Sona Hill: The 2016 Program for drilling at the Sona Hill Satellite Deposit ("Sona Hill") consisted of 8,084 metres ("m") of infill and step out drilling. The results of the first 20 infill holes (2,776m) were reported in a November 3, 2016 Press Release. Highlights from results of the remaining 4,568m infill and 740m step-out drilling program at Sona Hill include 7.89 g/t Au over 13.5m in Sona Hill Drill Hole ("SOD")081 (infill), 39.56 g/t Au over 10.5m in SOD090 (infill), 3.58 g/t Au over 14.6m in SOD097 (infill), 1.94 g/t Au over 28.5m in SOD100 (infill), 2.49 g/t Au over 15.7m in SOD-107 (step-out), and 4.91 g/t Au over 3.0m in SOD109 (step-out). Wynamu Hill: The 2016 Program for Wynamu Hill consisted of 1,127m of drilling. Highlights from the discovery of gold mineralization in saprolite and fresh rock include 1.18 g/t Au over 19.5m in Wynamu Drill Hole ("WYD") 003 and 7.51 g/t Au over 21.5m in WYD013. To view the Drill Prospect Location Map, please visit the following link: http://media3.marketwire.com/docs/1085715a.pdf 2016 Program: The 2016 Program also included completion of geochemical and geophysical surveys west of Sona Hill, and infill geochemical sampling at the Otomung concession, which is located 25 km to the northwest of Toroparu. Rich Munson, CEO states: "We are very pleased to have completed the 2016 Program on schedule and within budget and to be able to report both continuing positive results at Sona Hill and the presence of an additional potential satellite deposit at Wynamu Hill. We are further encouraged that these near-surface systems contain areas of higher grade mineralization and remain open at depth and on strike, providing the potential for gold-only satellite deposits in proximity to existing reserves that could have a meaningful impact on the development of Toroparu. Exploration success to the southeast of Toroparu at Sona Hill, to the northwest at Wynamu Hill, and encouraging results from geochemical surveys at Otomung further supports our geologic model for the area, and we expect the detailed evaluation of the results will support further exploration efforts in these areas as well as the other high priority gold features within the 20 km by 7 km regional hydrothermal alteration halo surrounding Toroparu." The Company has received all assay results from the 68 core holes (8,084m) drilled within the Sona Hill Prospect during the 2016 Program, which included 64 infill and 4 step out boreholes. Results from the first 20 infill boreholes (SOD042-SOD061, 2,776m) were announced in the November 3, 2016 press release. Highlights of the remaining infill boreholes (SOD062 through SOD105) and the step-out boreholes (SOD106 through SOD109) are presented in the list below. A total of 12,585m of diamond drill cores has been recovered from the 109 boreholes drilled on the Sona Hill Gold Satellite Deposit to date. Hard rock mineralization was first discovered at Sona Hill in 2012 during follow-up exploration of ten gold geochemical anomalies clustered around Toroparu. Drill programs at Sona Hill have focused on the opportunity to add higher grade resources in proximity to the existing Toroparu deposit reserves (see Sandspring press releases dated February 3, 2016, August 17, 2016, and November 3, 2016) by exploring the mineralization located within the hanging wall of a north-south oriented west dipping low angle shear structure. The Sona Hill mineralized system remains open at depth and along strike. A complete list of gold drill intercepts from boreholes SOD062 to SOD109 is provided as Exhibit 1 to this Press release. Prospect Location Maps are provided as Exhibits 2 and 3, and the Sona Hill Drill Hole Location Map as Exhibit 4. Highlights from the 2016 Wynamu Hill Drill Program are based on assay results from a small exploration core drilling program of 1,127m conducted at the end of the 2016 drilling campaign. Fourteen boreholes were drilled to an average depth of 80m each. The gold anomalous feature at Wynamu Hill was first identified during regional geochemical surveys conducted in 2012. A 2013 geochemistry campaign confirmed the gold anomaly, which forms a NNE oriented, 1 km long - 500m wide feature of continuous 100+ ppb values, including a dozen high values of >500 ppb. Initial air-core test holes conducted in 2014 confirmed the presence of gold in saprolite and upper layers of bedrock. A complete list of gold drill intercepts for boreholes WYD-001 through WYD-014 can be found in Exhibit 1 to this press release. Prospect Location Maps are provided in Exhibits 2 and 3, and the Wynamu Hill Drill Location Plan Map in Exhibit 5. The Wynamu Hill mineralized system remains open at depth and along strike. At Sona Hill gold mineralization is characterized by abundant pyrite occurrence and the larger hydrothermal alteration halos contain abundant finely disseminated magnetite. As part of the Sona Hill 2016 Program, an 18 line-km IP (Induced Polarization, pole-dipole) and magnetics geophysical survey was conducted over the saprolite geochemical survey grid that was established in 2012 west of Sona Hill. This ground geophysics program focused on possible extensions to the west of the mineralization at Sona Hill at depth in the low angle shear zone associated with intense hydrothermal alteration. Concurrently, a saprolite geochemical survey was filled in to a tighter 100m by 50m grid over the same area to add data to the exploration efforts. All the data is currently being processed for interpretation. The Sona Hill IP Geophysical Program and Infill Saprolite Geochemistry Survey location map is provided in Exhibit 6. The Toroparu deposit and surrounding gold anomalies lie at the southern edge of a large bending zone in the Puruni Shear Corridor, a regional feature that can be traced more than 100km into the prolific Venezuelan Gold District. Sandspring's geological model suggests that the northern part of this regional flexure may contain a similar structural pattern as Toroparu and a favourable geological context for gold mineralization within the Otomung Concession area. (see Exhibit 2) An elongated low magnetic feature was identified by a previous airborne geophysical survey conducted over the Otomung Concession area. Geochemical surveys completed in 2015 on a 1000m x 100m grid identified anomalous gold features in the low magnetic feature. The 2016 geochemical survey at Otomung included an infill survey in which 660 samples were collected on a 250m x 100m grid over the anomalous gold features identified in the 2015 geochemical survey. In addition, 305 samples were collected from a 30 km² area extending the 2015 1000m x 100m regional grid to the northwest boundary of the concession. Location Maps are provided in Exhibits 2 and 7. The drill results from Sona Hill have been delivered to our consulting engineers, SRK - Denver, and we expect to publish an initial resource for Sona Hill during the first calendar quarter of 2017. Sandspring is evaluating further exploration work at Wynamu Hill, Otomung and other exploration targets within the regional hydrothermal alteration halo surrounding Toroparu. Sandspring is pleased to announce the appointment of Jessica Van Den Akker as Chief Financial Officer of the Company. Ms. Van Den Akker is a Chartered Professional Accountant (CA) with over 11 years' experience in the resource sector. She gained extensive experience through a Canadian audit firm providing reporting and accounting assurance services to publicly traded companies, primarily in natural resources. Ms. Van Den Akker is a graduate of Simon Fraser University where she received a Bachelor of Business Administration. The Board has accepted the resignation of Harpreet Dhaliwal and would like to thank her for her contributions to the Company as CFO and wish her well in her future endeavours. Exhibit 1: Complete List of gold drill intercepts for Sona and Wynamu Hill Analytical testing and reporting of quantitative assays for the results reported in this press release was performed independently by Bureau Veritas Mineral Laboratories Vancouver, Canada. Bureau Veritas Commodities Canada Ltd. is an ISO9001: 2008 accredited laboratory. A system of blanks, standards and duplicates were added to the Toroparu sample stream by the Company to verify accuracy and precision of assay results, supplementing a variety of internal quality assurance/quality control ("QA/QC") tests performed by Bureau Veritas Mineral Laboratories. The technical information in this document has been reviewed and approved by Mr. Lucas W. Claessens, P.Geo. and Pascal van Osta, P.Geo., both Senior Exploration Consultants for Sandspring Resources Ltd., who have experience with the style of mineralization under consideration and are Qualified Persons under National Instrument 43-101. On behalf of the Board of Directors of Sandspring Resources Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a definitive feasibility study for the multi-million ounce Toroparu Project in the Guyana, South America. A prefeasibility study completed in May 2013 (NI 43-101 Technical Report, Prefeasibility Study, Toroparu Gold Project, Upper Puruni River Area, Guyana, dated May 24, 2013 completed by SRK Consulting (U.S.), Inc., available on SEDAR at www.sedar.com) outlined the design of an open-pit mine producing more than 200,000 ounces of gold annually over an initial 16-year mine life. Sandspring and Silver Wheaton have entered into a gold and silver purchase agreement for the Toroparu Project. Additional information is available at www.sandspringresources.com or by email at email@example.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The drill program and sampling protocol is managed by Sandspring under the supervision of Lucas W. Claessens, P.Geo. and Pascal Van Osta, P.Geo. The diamond drill holes are drilled at HQ and NQ sizes and core recovery to date has averaged 94%. Half core is cut by rock saw and is generally sampled using 1.5 m meter intervals. Analytical testing and reporting of quantitative assays for the results reported in this press release was performed independently by Bureau Veritas Mineral Laboratories in Vancouver, Canada. Bureau Veritas Commodities Canada Ltd. is an ISO9001: 2008 accredited laboratory. Gold analyses reported in this release was performed by standard fire assay (FA450) using a 50-gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per tonne. Samples from the geochemical survey were submitted for analysis of ICP 37 elements (including gold) AQ252 30 gram (Aqua Regia digestion - Ultratrace ICP-MS analyses). A system of blanks, standards and duplicates were added by the Company to the sample streams to verify accuracy and precision of assay results, supplementing a variety of internal QA/QC tests performed by Bureau Veritas Mineral Laboratories. The half core samples were securely transported by Sandspring personnel from the project site to the Bureau Veritas sample preparation facility in Georgetown, Guyana. This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "potential", "suggesting", "indicating", "will", "plans" and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions that Sandspring has used to develop such statements and/or information, but which may prove to be incorrect. Although Sandspring believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Sandspring can give no assurance that such expectations will prove to be correct. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: the speculative nature of mineral exploration and development; risks associated with the uncertainty of exploration results and estimates; results from drilling and exploration activities and Sandspring's ability to identify additional gold mineralization; Sandspring's ability to successfully advance the Toroparu Gold Project toward feasibility; Sandspring's future plans; the availability of financing and/or cash flow to fund current and future plans and expenditures; the impact of increasing competition; fluctuating commodity prices; the general stability of applicable economic and political environments; the general continuance of current industry conditions; uncertainty regarding the market price for gold, silver and copper; uncertainty of conducting operations under a foreign regime; uncertainty of obtaining all applicable regulatory approvals and related timing matters; Sandspring's dependence on management personnel; and/or certain other risks detailed from time-to-time in Sandspring's public disclosure documents. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
News Article | February 15, 2017
You may have heard me say this before, but I firmly believe there are few topics more fundamental to study than the workings of our planet. The earth sciences aim to unravel how the lithosphere, atmosphere, hydrosphere, and biosphere operate—and how they operate together. It is a science of synthesis. And it’s one that needs to move forward, both because of the great service the earth sciences perform for society and the understanding of world-shaping processes that they advance. Now, earth scientists are not always the first researchers you see on TV or in articles about science, even if the topic is plainly within their realm. Since the days of Carl Sagan, the physicists have carved out a nice role as the most prominent popular science communicators. There isn’t anything wrong with that. But earth scientists are experts on the Earth—and when questions arise about climate, hazards, and resources, it makes sense to reach out to the researchers who have the most knowledge and expertise in those earthy topics. Even though physicists have the strongest voice in science communication, there are many more outlets for earth scientists to spread their knowledge. The free flow of communication from scientist-to-scientist and scientist-to-public is the key to making sure the country continues to value science: funding research across all sciences, appreciating and acting on the results, and continuing to give scientists the freedom to accumulate and interpret data to draw evidence-based conclusions. This isn’t some vast conspiracy of scientists trying to get rich, but rather people dedicated to knowing how the planet operates. If you’re excited about learning about earth science, a great way to start is to follow earth scientists and earth science organizations on Twitter. Many of us strongly value communicating with the public, mostly because we’re just that excited about what the science is doing and discovering. So I’ve created a list of people and organizations to follow to get you started in earth science. Scientists are people, so expect a lot of science but also a lot of other things that make them tick (or make them angry, or thrilled). This, by no means, is an all-inclusive list. Rather, it’s a cherry-picked list of my favorites. If you have other earth scientists who you think need a follow, leave them in the comments and I can amend the post over time—especially with international and non-English language geoTweeters. Give me a reason to add them so I can add details for people looking for science on Twitter. @drlucyjones: Dr. Lucy Jones is an earthquake expert who recently retired after years of service with the U.S. Geological Survey. She quells a lot of the crazy ideas and “predictions” people have about earthquakes, especially in California. @allochthonous and @highlyanne: This duo write Highly Allochthonous and run all-geo.org. Both faculty at Kent State University, Anne Jefferson studies water, especially in urban environments while Chris Rowan works on paleomagnetism and tectonics. Both are strong advocates for science, science communication and diversity/inclusivity in the sciences. @Tessa_M_Hill: Tessa Hill is a professor at UC Davis and an expert on climate and oceans. She is also (along with the aforementioned Anne Jefferson) an AAAS Public Engagement Fellow. @seis_matters: Christopher Jackson studies basin analysis (in other words, how sediment and tectonics creates and fills valleys and depressions on Earth) at Imperial College. He’s also about to head off on a lecture tour for the Geological Society of America. @lava_ice: Ben Edwards is a volcanologist at Dickinson College working on volcanoes in far-flung places like Iceland and Chile. He also likes to dabble in making his own volcanoes with the help of the folks at Syracuse University. @methanoJen: Jen Glass is faculty Georgia Tech and studies geobiochemistry and how microbes impact methane production. She’s a prolific tweeter and activist as well, trying to protect the freedom of speech for scientists and making science as open and accepting as possible. @PopePolar: Allen Pope studies glaciers, snow and ice using satellites. He’s an invaluable resource for keeping track of how climate change in impacting our frozen water. @janinekrippner and @alisongraeting: Together, Janine Krippner and Alison Graetinger keep track of all the volcanic events that even I have troubling keeping up with. Beyond that, they run In the Company of Volcanoes as well. @guertin: Dr. Laura Guertin is passionate about geoscience education and getting students involved in research to get them excited about earth sciences. @tuff_cookie: Jessica Ball is a volcanologist currently with the USGS and a former Geological Society of America Congressional Fellow. She also writes Magma Cum Laude on the AGU Geoblogs. @callanbentley: Callan Bentley is faculty at Northern Virginia Community College and a prolific blogger, tweeter and geologic illustrator. @davidmpyle: David Pyle is a distinguished professor at Oxford University, an author of several books on volcanoes and an important drive of Oxford Sparks and STREVA (strengthening resilience to natural hazards in volcanic areas). @TTremblingEarth: Austin Elliot is a post-doctoral researcher studying active tectonics and also writes (and tweets) about earthquakes. If you need even more (and you do), Ron Schott (@rschott) keeps an exhaustive list of geologists on Twitter. And there is also yours truly: @eruptionsblog @USGS and @USGSVolcanoes: The U.S. Geological Survey has a ton of useful Twitter accounts to shell out lots of great information. You can start with the main survey account and I, of course, recommend the Volcanoes account to keep track of all the rumblings of the volcanoes monitored by the USGS. If earthquakes interest you, try @USGSBigQuakes. @theAGU and @AGU_Eos: These two are the main account for the American Geophysical Union and the Union’s magazine, Eos. You’ll find tweets on new earth science research, posts from the great AGU blog network and statements of policy from AGU (@AGUSciPolicy), including their letter denouncing restrictions on how scientists can communicate. If you’re into volcanoes, you can also try the @AGUvgp account for the Volcanology, Geochemistry and Petrology group. @GlacierHub: The account for Glacier Hub, a nexus of information about glaciers and the impact that changing climate has on glaciers along with the communities impacts by glaciers. @trowelblazers: This account sends out links and information about the multitude of women who had played important roles in the history of archaeology, palaeontology & geology along with what women are doing across these fields today. @geosociety: The Geological Society of America, bringing you new earth science research and links to fascinating articles on our planet from across the internet. @EuroGeosciences and @EGU_GMPV: The European Geosciences Union, the European twin of AGU along with their section of Geochemistry, Mineralogy, Petrology, Volcanology. @STREVAProject: I mentioned the STREVA (strengthening resilience to natural hazards in volcanic areas) Project above, but it deserves it’s own listing. The Project looks to help areas in danger from volcanic activity through outreach and research. You should also check out my post on the various volcano observatories you can follow on Twitter. Journalists (again, just some of my favorite science journalists, but there are many, many more out there!) @alexwitze: Alexandra Witze writes for Nature and is the co-author of Island on Fire about the eruption of Laki in Iceland. @elakdawalla: Emily Lakdawalla writes for the Planetary Society about space exploration and extraterrestrial geology. @mikamckinnon: Mika McKinnon is a trained geophysicist and a freelance science writer (along with sci-fi science consultant) @SJVatn: Scott Johnson is science journalist for Ars Technica and science editor for Climate Feedback. @teideano: David Calvo is a member of INVOLCAN (@involcan), a volcano monitoring group in the Canary Islands and a radio/TV personality covering science. @aboutgeology: Andrew Alden has been writing about geology on the internet longer than most people and has wrote some fascinating stuff about the geology of the Bay Area (amongst many other topics). @david_bressan: David Bressan writes about geology for Forbes, tackling the long and winding history of the discipline. @earthmagazine: As the title implies, Earth magazine digs deep into the planet to cover all the news and research in geosciences. Looking at Earth (I’m a big fan of satellite views of Earth, and you should be too!) @NASAEarth: The NASA Earth Observatory has thousands of amazing images of the planet and keeps them coming on our ever-changing world. They also help us visualize the vast amount of data that can be collected by earth-observing satellites. @NASA_Landsat: This account follows all the great work done by the NASA/USGS Landsat missions that watch the planet. @Landsatbot: This automated account is great if you like random satellite views of the planet from Landsat 8. Sometimes they are an area of geologic wonder, sometimes they are “unnamed location” in the middle of the ocean or arctic. @Planetlabs: Their armada of Doves are some of the newest earth observing satellites.
News Article | November 22, 2016
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to provide an update on its flagship Cherry Creek Nevada Property (the "Property"). The Phase 1 drilling commenced at Flint Canyon in early September; and is being managed and funded by Summit Mining Exploration Inc. ("Summit"), a wholly-owned US subsidiary of Sumitomo Corporation, under the Exploration-Earn In Agreement. The 2016 Phase 4 soil sampling program was completed in late July. A total of 1,250 samples were collected, including those at closer spacing than the 75m by 75m reported in the news release of (August 10, 2016). All were submitted to ALS Global for gold assay and multi‐element geochemical analysis. In the central Flint Canyon area, the results reported by Summit show a positive correlation of gold and arsenic to the locations of the jasperoid occurrences and with major faults and regional structures. The soil sample results and geological map data were used for guidance in the drill planning. A reverse circulation (RC) drill plan was made based on soil anomalies, geologic mapping, and targeting of the jasperoid outcrops. The initial drill program that was reported in the news release of (September 7, 2016) was for 18 holes from 12 drill sites for total of 14,366 feet (4,380 m). The revised drill plan is for 34 holes from 11 sites for 24,000 feet (7,317 m). Drilling has progressed well and is continuing due to good weather, ground conditions, and short drill rig moves. Currently the program is expected to continue to the end of November. A map showing the new roads and drill pads at Flint Canyon may be consulted using the following link: http://media3.marketwire.com/docs/Flint_Cayon_Road_and_Drill_Pad_Map.jpg Mark Abrams, Viscount Technical Advisory Board, stated: "Summit has conducted a very well planned and executed exploration program to date at Flint Canyon. My initial examination of Flint Canyon drill samples shows features typically associated with a Carlin-type gold deposit, including silicification and disseminated fine grained pyrite which are present. We look forward to the continued testing of targets on the property and the analysis of the lab results that will follow." The 2015 and 2016 mapping at Flint Canyon found the faulting to be more complex than previously indicated on the Adair 1961 geologic base map. Summit's mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada. Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale, but other outcrops are found along the Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon and Kinross Gold Corporation-Bald Mountain deposits). The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit's geological team indicates that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and, at Flint Canyon, it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration. Mineralization identified by this work is hosted within and extending out from silica bodies known as jasperoids formed at the Pogonip Limestone/Notch Peak Limestone contact, within the Dunderberg Shale, and within and extending out from jasperoids formed at the Dunderberg Shale/Marjum Limestone contact. Jasperoids form from silica and iron replacement of the limey component of rocks when warm springs carrying silica, iron and potentially metals such as gold circulate through the rock column. As the silica and iron rich waters percolate through the rock, the limey component of the rock dissolves, migrates away and redeposits as calcite veins (calcium carbonate) in areas outboard of the warm spring waters. The host rock, depending on its content of limey material, may form caves or even collapse as the limey component is flushed out. Collapse features have been noted in outcrop and in new road cuts in the anomaly areas of Flint Canyon. This event makes the rock more permeable and allows even more silica rich waters to flow in. As the waters flush in they begin to deposit silica and iron as jasperoids. Gold deposition can occur as part of this process and, in fact, has at Flint Canyon. The Cherry Creek district, including Flint Canyon, is cut by very deep seated fault structures. These faults would have provided a very good plumbing system that allowed mineralizing waters to circulate through the rock column over a large area. In looking at the gold mineralized rock at Flint Canyon, one can see more than one event of silica, iron and likely gold introduction into the rock. Multiple events like this have been known to drive up the gold grade at other projects and may also have done so at Flint Canyon. The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The exploration and drill programs are being managed by David Tretbar, Summit Exploration's Executive Vice President, Exploration and Mineral Resources, a Qualified Person as defined by NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (#48036) and a Certified Professional Geologist (CPG #11086) with the American Institute of Professional Geologists. Mr. Tretbar holds a Master's Degree in Geochemistry from the Mackay School of Mines, University of Nevada Reno. Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills. For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp ON BEHALF OF THE BOARD OF DIRECTORS Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.