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Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
ORFG is please to announce that the Board Of Directors have appointed Mr. Ning Shi Long as Chairman of the Board and Executive Director.
Mr. Ary Fernando Pernett Marque has been appointed as the new President/CEO & Executive Director of Orofino Gold Corp. See full resume on ORFG's website.
Mr. Pernett will be responsible for all affairs of ORFG in Colombia. Mr. Pernett has 30 years of experience working in the Colombian Mining sector and will over the near term choose his new development team to assist in the development of the company’s Senderos de Oro gold camp in the Sur de Bolivar Colombia.
ORFG and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, ORFG ’s legal counsel as well as Discovery Consultants, (The Qualified 43-101 team) Canada, as they have in the past. The new team will now aggressively pursue other known Gold occurrences in the companies Senderos de Oro Gold Camp while the development team works to improve production at La Azul Mine.
The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of the Company. His resignation is effective immediately. ORFG wish him well and success in future endeavors.
Douglas Lake Minerals Inc. (OTCBB:DLKM) is pleased to provide an update regarding its recently acquired Handeni Project which is located in the rapidly developing region of eastern Tanzania. Douglas Lakes’ 100% owned Handeni Project consists of four prospecting licenses covering approximately 800 km(2) which are directly adjacent to, and partly surround, Canaco Resources Inc’s (V.CAN) 200 km(2) Kilindi license which holds the Magambazi gold mineralization occurrence.
Douglas Lake Successfully Delineates Structural Controls on Gold Mineralization in the Four Handeni Project PLs
The Company is pleased to provide the results of the recent exploration program conducted on PLR PLR4973/2008, subsequently subdivided into four PL’s (PL6742/2010, PL6743/2010, PL6744/2010 and PL6779/2010), based on the outcomes of the first phase of the continuous exploration program conducted since 2008. This exploration phase included a fixed-wing aircraft flown aeromagnetic and radiometric survey at a line spacing of 200m and a height of 80m, subsequent interpretation of data and ground follow-up. The survey and interpretation was conducted according to internationally accepted standards by the Council for Geoscience, South Africa.
Interpretation of aeromagnetic data was successful in delineating prominent structural features including NW-SE shear zones of which five in the Company’s property area, with a total length of 143km, are given first order priority. These shear zones and their distances within the Company’s properties are: 1 - Southwestern shear zone (31km); 2 - Kimamba shear zone (41km); 3 - Kilima Mzinga - Kwandege main shear zone (28km); 4 - Mligazi shear zone (15km); and 5 - Magambazi - Mjembe (28km) shear zone. The Company has identified three further key elements in the delineation of gold mineralization which includes the prominence of NE-SW lineaments (seven in total), the role of SW to NE thrust planes and the use of radioelements to outline potential target areas. Three major SW to NE thrusts planes were also identified: a main thrust zone of 46km; and two additional thrusts zones of 5km and 3km each. In addition to the key elements sheath folding, open folds (2km to 10km scale) and boudinage provide additional targets with a second order priority.
The position of regional gold mining activities, as well as known gold mineralization occurrences, were utilized to test the Company’s developed model for locating gold mineralization and this approach proved to be successful. Following from this the Company considers the Kilima Mzinga - Kwandege shear zone, with a distance of 28km in PL6742, PL6779 and PL6744 as one of their primary targets, substantiated by the artisanal mining activities along the northwestern and southwestern outcrop area of the shear. In addition to the shear component along the Kilima Mzinga - Kwandege shear zone, a considerable SW to NE thrust component acted along a 25km long stretch of the shear within the Company’s property adding to the gold mineralization potential of this zone based on the current model.
Harp Sangha, the Company’s CEO, stated: “We are confident that the model developed based on the first exploration phase provides a substantial platform for understanding gold mineralization in the prospecting licenses as exemplified by the success with which the model predicts and outlines existing and known gold anomalies”. Phase two of the exploration program focused on the identified potential zones during an intensive stream sediment and soil sampling program. The results will be released in due course.
The Company has requested a geologist to prepare a Technical Report on the Handeni Project in accordance with the provisions of National Instrument 43-101 (”NI 43-101?) of the Canadian Securities Administrators. Upon receipt of the Technical Report the Company will file it on SEDAR at www.sedar.com.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and has been reviewed by Reyno Scheepers, Ph.D., Pr.Sci.Nat, Director of Exploration and a director of the Company, a QP under NI 43-101.
Aeropostale, Inc. (NYSE:ARO) reported results for the third quarter ended October 30, 2010 and total net sales for the four-week period ended November 27, 2010.Diluted net earnings for the third quarter of fiscal 2010 were $0.63 per diluted share, which includes a previously disclosed after-tax charge of approximately $3.9 million, or $0.04 per diluted share, resulting from the related third quarter retirement plan payment to its Chairman and former Chief Executive Officer. The Company reported net earnings of $0.61 per diluted share in the third quarter last year.For the third quarter of fiscal 2010, total net sales increased 6% to $602.8 million, from $567.8 million in the year ago period. Same store sales for the third quarter were essentially flat, compared to a same store sales increase of 10% last year.
Aeropostale, Inc. operates as a mall-based specialty retailer of casual apparel and accessories. It designs, markets, and sells merchandise principally targeting 14 to 17 year-old young women and men. The company offers a collection of apparel, including graphic t-shirts, tops, bottoms, sweaters, jeans, and outerwear, as well as accessories, including sunglasses, belts, socks, and hats.
Albany International Corp. (NYSE:AIN) declared on Dec 17, 2010 a quarterly dividend of $0.12 per share on the Class A and Class B Common Stock, payable on January 10, 2011, to shareholders of record on January 3, 2011.
Albany International Corp., through its subsidiaries, manufactures and sells paper machine clothing and industrial doors worldwide. The company operates through five segments: Paper Machine Clothing, Albany Door Systems, Engineered Fabrics, Engineered Composites, and PrimaLoft Products. The Paper Machine Clothing segment designs, manufactures, and markets paper machine clothing and process belts used in the manufacture of paper and paperboard.
Allegheny Energy Inc. (NYSE:AYE) announced on Dec 20, 2010 that their affiliates have asked the Public Service Commission of West Virginia to extend the current procedural schedule for reviewing an application to build the Potomac-Appalachian Transmission Highline (PATH) project in the state. The request will allow the PATH companies to prepare updated testimony that reflects information from the preliminary 2011 Load Forecast Report issued today by PJM Interconnection (PJM). The draft report differs from prior PJM forecasts and could potentially have an impact on the PATH project’s in-service date. However, the draft report alone does not change the projected in-service date for PATH or any other transmission expansion project. PJM recently re-affirmed the need for the PATH project by June 1, 2015.
Allegheny Energy, Inc. owns and operates electric generation facilities, and delivers electric services to customers in Pennsylvania, West Virginia, Maryland, and Virginia. The company owns or contractually controls coal-, gas-, and oil-fired generation facilities, as well as hydro generation facilities. It operates in two segments, The Merchant Generation and The Regulated Operations.
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