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Seeking Alpha Analyst Since 2010
Dolat Ventures Inc. announced the expansion of the diamonds operations at the Baimbawai Pool in the Sewa River along with the expansion into gold and other rare minerals. concrete crushing plant
Dovid Hauck, Chief Executive Officer, stated, “With the continued increase in rough diamond prices, we believe this is the time to expand our mining operations. Diamonds currently mined are sold in the rough conditions in which they are found. We sell these diamonds in Sierra Leone and around the world. Our current operations include 85 miners and two dredges.”
“Additional expansion includes mining for gold, tantalum and niobium. Initial drilling and exploration has indicated gold and tantalum and niobium on our properties. This said, we are taking an aggressive approach to further expanding our mining operations,” concluded Mr. Hauck. Tantalum and niobium are rare earth minerals used in an array of applications from cell phones to batteries.
Spur Ventures Inc. announced that Spur has agreed to grant Zhong Chuan International Mining Holding Company Limited an extension until September 26, 2008 to complete the financing announced in the Company’s April 14, 2008 press release. Zhong Chuan has asked for the additional time in order to deal with technical and procedural issues in China that have resulted in delays in the transfer of funds to Canada. The Toronto Stock Exchange has approved the extension. jaw crusher
Zhong Chuan has confirmed its continued commitment to the completion of the financing, which includes an initial investment by Zhong Chuan of $11.34 million and was approved by 98.6% of the shareholders who voted at Spur’s annual general meeting on June 24 of this year.
Old underground workings with sizable dumps are evidence of past production. A soil grid was conducted on the property in 2005 that defined a gold-in-soil anomaly approximately 200 meters wide by 300 meters long with gold values up to 350 ppb. The soil grid was expanded in 2006 and the gold anomaly was expanded to 450 meters in length with gold-in-soil values up to 2070 ppb. No work has been done since 2006 and the soil anomalies remain open to the north and south.
“The Pine Property, with a soil anomaly of this size and tenor, is especially significant in a district such as the Cariboo, which has produced considerable amounts of gold from vein and replacement ore bodies and related placer deposits,” said Michael Sonnenreich, Chairman of the Board and CEO of Williams Creek.
Williams Creek will undertake a program of mapping, soil sampling and trenching in the 2011 field season to test the potential of the property. The program will extend the soil grid to better define the extent and source of the main soil anomaly and satellite anomalous zones at the margins of the grid. The 2005-2006 soil grids cover only about 3% of the Pine Property. screw conveyors
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