Deer Horn Reports a Harrison Scheelite Zone
- Details
- Category: Tungsten's News
- Published on Thursday, 17 January 2013 10:09
- Hits: 2381
Vancouver, British Columbia CANADA, January 16, 2013 - Deer Horn Metals Inc.is pleased to inform its shareholders of two recent developments. Firstly we have received results from a 10-day prospecting program completed on the Deer Horn property, located in West Central British Columbia approximately 36 kilometers south of the Huckleberry Mine. Secondly we have hired Moose Mountain Technical Services (MMTS) to produce a Preliminary Economic Assessment (PEA) of the Deer Horn property.
The helicopter-supported program took place from September 9 - 19, 2012. It evaluated several gossanous areas and ground-truthed a number of geophysical anomalies that were identified during a detailed assessment of 2011 airborne magnetic and radiometric survey data. Prospecting also evaluated the potential western extension of the Main Vein and Contact Zone gold-silver-tellurium vein system and areas in the vicinity of historic Harrison tungsten mineral occurrence.
Harrison Scheelite Zone
Sampling of newly recognized tungsten mineralization from the historic Harrison Scheelite occurrence, centered approximately 680 m southwest of Lindquist Peak, produced encouraging results. Composite chip samples were collected from bedrock exposures that included bands of disseminated scheelite crystals within calc-silicate altered tuffaceous limy siltstones. Samples grade up to 4750 ppm W (0.60% WO3). The style of mineralization is similar to that observed in the footwall of the Contact Zone. Several 2011 drillholes, collared more than 650 m to the east of the 2012 surface showings, intersected scheelite-bearing, calc-silcate altered limy volcanic sediments, including DH11-119 that encountered 3.00 m averaging 0.23% WO3. The new showings also occur upslope and at least 170 m northwest of the areas trenched in 2011 where sample results included 6 m averaging 1.08% WO3.
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
Engineer Making Rechargeable Batteries with Layered Tungsten Disulfide Nanomaterials
- Details
- Category: Tungsten's News
- Published on Thursday, 17 January 2013 09:33
- Hits: 2729
MANHATTAN, Kan. -- A Kansas State University researcher is developing more efficient ways to save costs, time and energy when creating nanomaterials and lithium-ion batteries.
Gurpreet Singh, assistant professor of mechanical and nuclear engineering, and his research team have published two recent articles on newer, cheaper and faster methods for creating nanomaterials that can be used for lithium-ion batteries. In the past year, Singh has published eight articles -- five of which involve lithium-ion battery research.
"We are exploring new methods for quick and cost-effective synthesis of two-dimensional materials for rechargeable battery applications," Singh said. "We are interested in this research because understanding lithium interaction with single-, double- and multiple-layer-thick materials will eventually allow us to design battery electrodes for practical applications. This includes batteries that show improved capacity, efficiency and longer life."
For the latest research, Singh's team created graphene films that are between two and 10 layers thick. Graphene is an atom-thick sheet of carbon. The researchers grew the graphene films on copper and nickel foils by quickly heating them in a furnace in the presence of controlled amounts of argon, hydrogen and methane gases. The team has been able to create these films in less than 30 minutes. Their work appears in the January issue of ACS-Applied Materials and Interfaces in an article titled "Synthesis of graphene films by rapid heating and quenching at ambient pressures and their electrochemical characterization."
In a second research project, the researchers created tungsten disulfide nanosheets that were approximately 10 layers thick. Starting with bulk tungsten disulfide powder -- which is a type of dry lubricant used in the automotive industry -- the team was able to separate atomic layer thick sheets of tungsten disulfide in a strong acid solution. This simple method made it possible to produce sheets in large quantities. Much like graphene, tungsten disulfide also has a layered atomic structure, but the individual layers are three atoms thick.
The researchers found that these acid-treated tungsten disulfide sheets could also store and release lithium ions but in a different way. The lithium is stored through a conversion reaction in which tungsten disulfide dissociates to form tungsten and lithium sulfide as the cell is discharged. Unlike graphene, this reaction involves the transfer of at least two electrons per tungsten atom. This is important because researchers have long disregarded such compounds as battery anodes because of the difficulty associated with adding lithium to these materials, Singh said. It is only recently that the conversion reaction-based battery anodes have gained popularity.
"We also realize that tungsten disulfideis a heavy compound compared to state-of-the-art graphite used in current lithium-ion batteries," Singh said. "Therefore tungsten disulfide may not be an ideal electrode material for portable batteries."
The research appeared in a recent issue of the Journal of Physical Chemistry Letters in an article titled "Synthesis of surface-functionalized WS2 nanosheets and performance as Li-ion battery anodes."
Both projects are important because they can help scientists create nanomaterials in a cost-effective way. While many studies have focused on making graphene using low-pressure chemical processes, little research has been tried using rapid heating and cooling at atmospheric pressures, Singh said. Similarly, large quantities of single-layer and multiple-layer thick sheets of tungsten disulfide are needed for other applications.
Singh plans future research to study how these layered nanomaterials can create better electrodes in the form of heterostructures, which are essentially three-dimensional stacked structures involving alternating layers of graphene and tungsten or molybdenum disulfide.
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
Gold Except Tungsten Fake Gold Distribution in the World
- Details
- Category: Tungsten's News
- Published on Tuesday, 15 January 2013 17:39
- Hits: 2665
Gold - Visualized in Bullion Bars
There's surprisingly little Gold in the world & this info graphic shows all the Gold ever mined. In this Gold info graphic everything is calculated with Gold price at $2000/oz. When Gold reaches $3110/oz, 1 oz of Gold & a $100 bill will have equal value in weight, and it won't matter if you have 1oz of $100 bills or 1oz of Gold. Gold is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.
Gold - Size Chart
This is a chart of standard Gold bullion size comparison. The cubes are measured by volume & Gold weight of 19.30 g/cm−3. The plates are typical Gold bar dimensions of same Gold weight.
400 Troy Oz of Gold 999.9 Fine Bullion Bar
The Gold bar to below is worth the $800,000 displayed on the left at $2000/oz.
The Gold bar weights 12.44 kg, 27.42lbs or more than
3x 1-gallon milk jugs - quite heavy.
As an investment, Gold has out performed Dow Jones for last 8 years straight.
1 Ton of Gold
The 1 ton of Gold is worth $64.3 Million dollars at $2000/oz.
Gold has gone from $18.92 in 1911 to over $1,700 in 2012, the price of Gold has inflated more than 9,000%
In recent times, Tungsten (heavy 'cheap' metal) filled fake Gold bars, which look like the ones above, have been found in Manhattan.
Such tungsten fake bars can be even be ordered from tungsten-alloy.com & chinatungsten.com.
The Bank of England's Gold Reserves can be seen in this video.
Statement from Chinatungsten Online: Chinatungsten Online (Xiamen) Manu.&Sales Corp. is a very professional and serious company, specializing in manufacturing and selling tungsten alloy related golden-plated products for more than two decades. Our gold-plated tungsten alloys are only for souvenir and decoration purpose. We can provide different kinds of tungsten alloy golden-plated products according to your requirements. Here we declare: Please do not use our tungsten gold-plated or tungsten alloy golden-plated products for illegal purpose.
A Chevrolet Silverado 2500 Truck full of Gold
This is how much Gold the average man could haul in his truck without braking the suspension.
Max carrying weight of the truck is 3670 lbs = 1664.68kg, which is the weight of the Gold you see in the truck bed - 133x 400oz bullion bars of Gold.
The value of the 1.66 tonnes of Gold at $2000/oz is displayed to the left at $106.4 Million dollars.
10 Tonnes of Gold vs 100 Tonnes
The Central Banks of western countries usually handle their nations' large Gold Reserves. Couple generations ago the US dollar was backed by Gold, so the Fed had to hold Gold. Today, the dollar is backed by the confidence in United States' repayment of its debt (bonds). The US Central Bank's- The Federal Reserve's Chairman Ben Bernanke, says that Gold is only held as a tradition and that Gold is not money
Semi Truck 'full' of Gold - 24.88 Tonnes
The legal carry weight of a semi-truck is between 22-25 tonnes.
The truck is carrying 24.88 tonnes of Gold worth $1.6 Billion dollars @ $2000/oz (on the 2nd truck).
$2,130,952,380 = B2 Bomber = 33.14 Tonnes of Gold @ $2000 / oz
Couple years back when Gold was less valuable, a B2 Bomber was literally worth more than its weight in pure Gold. With the price of Gold going up, finally Gold is more valuable in weight than a B2 Bomber.
The Northrop Grumman B2 Spirit Bomber program cost $44.75 Billion for a total of 21 units built, that averages to $2,130,952,380 per unit and the same value in Gold @ $2000/oz can be seen on the semi-trucks on the right. To the left you see a Semi truck with $2.13 Billion dollars.
Doesn't matter how you choose economically between the semi truck of cash, the Gold trucks or the B2 Bomber, they're all worth the same.
US Gold Reserves - 8,133.5 Tonnes
The 8,133.5 Tonnes of Gold Reserves have an official book value worth $11,041,059,958
($11 Billion) as of 1/11/2013 and are shown below.
Year 1933, in the Pillar of Human Civilization & Capitalism-- The United States of America, Gold possession was criminalized. Shortly after confiscating the Gold, the US devalued Gold from $20.67/oz to $35/oz, by so devaluing the US dollar by 70% overnight. The US Dollar 'Federal Reserve Note' still said "Redeemable in Gold", while doing so got you arrested. USA was on the Gold Standard until 1971. Gold possession remained illegal until 1975.
The arguably real intention of criminalizing Gold was because the Federal Reserve printed too many dollars, backed by a limited amount of Gold. People knew Gold was worth more than the $20.67/oz that US Government was 'redeeming' (selling) Gold at.
World Government Gold Reserves
This Gold values shown are official numbers from Wikipedia.
There is a strong chance the numbers are inaccurate since western world's Central Banks have purportedly leased out the Gold reserves while using accounting tricks to hide the facts, in order to push the Gold price down. Gold price is an indirect indicator of economic stability, the lower the price, the more stable the global economy appears.
Developing countries have been buying significant amounts of Gold in recent years, with India being #1 and China #2.
The Federal Reserve Bank of New York holds 540,000 Gold bars. Germany stores 45% of their Gold with Federal Reserve, while according to official memo from Bank of England to Federal Reserve it is acknowledged that Gold delivered back to Germany has been 'bad delivery' bars, instead of 'good delivery'. Germany & Switzerland are concerned and are interested in getting the Gold they store w/ the Fed, back home
A German court has recently demanded audit of Germany's Gold holdings, while the Central Bank of Germany has begun shipping 50 tonnes of Gold / year back home.
Many other governments are engaging in Gold hoarding, including China,who imported more Gold in 2012 than all of ECB's holdings.
This page is from Demonocracy Info.
Solomon Conducts Inventory of Artisanal Tin and Coltan Minesites
- Details
- Category: Tungsten's News
- Published on Tuesday, 15 January 2013 13:46
- Hits: 2462
VERNON, BRITISH COLUMBIA - Jan. 14, 2013 - Solomon Resources Limited is pleased to report that it has received a preliminary inventory of artisanal tin and coltan (niobium-tantalum) minesites within the Rurembo Prospecting Licence area in the Republic of Rwanda. The survey was completed by contract geologist Claver Mahungiro of Geoscad Ltd. and his associate Celestin Havugimana.
The survey of artisanal miners will provide valuable information as to the location of mineralized pegmatite dyke swarms in the project area.
Rwanda is still recovering from the genocide of 1994, and the geological database prior to the civil war has largely been destroyed. The Rwandan government has amassed a remarkable set of new geological, geochemical and geophysical data in the past five years with the intent of attracting foreign exploration investment, and Solomon's Rurembo Prospecting Licence is the first exploration program to benefit from the release of that data.
Solomon's President and CEO Randy Rogers noted: "We have received incredible cooperation from the Government of Rwanda Geology and Mines Authority (OGMR) and Rwanda Development Board (RDB). The Rwandan Ministry of Natural Resources continues to release new data and Solomon is uniquely positioned to assess new exploration targets in this highly prospective and under-explored environment."
The Rurembo Project is a grassroots exploration program for tin (Sn) - tantalum (Ta) - niobium (Nb) and tungsten (W) largely predicated upon the proximity of the former Belgian mine at Gatumba and the projected strike extensions of that geological environment into the Rurembo Licence Area.
The primary exploration focus of the Project is Neo-Proterozoic pegmatites mineralized with cassiterite and columbite-tantalite (coltan); in addition to conventional geological, geochemical and geophysical exploration techniques that will be utilized the recently completed inventory of artisanal minesites will provide invaluable evidence of where the mineralized pegmatites outcrop and offer a weathered exposure amenable to primitive artisanal extraction.
Mahungiro and Havugimana identified 252 artisanal extraction sites within the licence area.
The Rwandan field crew also documented road and trail access to the artisanal workings throughout the Rurembo licence area and mapped the artisanal sites on Solomon's 1:50,000 scale topographic base. The contract geologists noted that access to many of the artisanal sites was made difficult by severe topography and the absence of bridges and river crossings that had been destroyed during the genocide. In many of these cases, Solomon will be required to upgrade road and trail access to facilitate ongoing exploration.
Solomon's President and CEO Randy Rogers observed: "The inventory of the artisanal minesites is an important milestone in the early stages of the project - the documented extraction of tin and coltan from weathered outcrops of mineralized pegmatites offer a positive indication of potential mineralization that may exists at depth and which will be explored with conventional surface and sub-surface exploration techniques in the coming months. We are refining our exploration targets using airborne geophysical data provided by OGMR as well as very high resolution aerial orthophotography that clearly shows the artisanal workings and the pegmatite dyke swarms. We continue our analysis of the available data to identify dilationary zones where the pegmatite dykes are crosscut by regional structures and mineralized poches-de-greisen may occur."
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
Cadillac Ventures Extends Private Placment Financing
- Details
- Category: Tungsten's News
- Published on Tuesday, 15 January 2013 11:26
- Hits: 2370
Cadillac Ventures said it now expects to close a second tranche of the private placement financing it announced late last year by January 31, extending the offering.
In early December, the company closed a first tranche of the private placement, issuing 11.8 million flow through units sold at a price of 10 cents each, and a total of 60,000 units sold at 9 cents each, raising a total of $1.2 million.
The funds were for exploration and development of the company's Canadian properties, as well as for general working capital needs.
Today, the company said it has extended its current private placement financing of units at 9 cents each and flow through units at 10 cents each, expecting to close a second tranche by the end of the month.
Late in November, Toronto-based Cadillac resumed exploration on its Burnt Hill property in New Brunswick, which covers more than 125 square kilometres and has NI 43-101 compliant tungsten, tin and molybdenum resources.
The last resource estimate on the property was calculated in 2009. The phase 1 ground exploration program will target the Tin Hill, Burnt Hill Brook Area, the Burnt Hill Mine Area, and the 2 1/2 Mile Brook Area, with two prospecting crews currently in the field.
Cadillac holds a 51 per cent interest in the Burnt Hill project, a historic tungsten/tin mine taken to test production by Brewster for Canadian International Paper during the early 1980s. The company is aiming to restart development at the project.
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
The Tungsten Industry Fundamentals Analysis - Ⅱ
- Details
- Category: Tungsten's News
- Published on Monday, 14 January 2013 18:09
- Hits: 2438
Tungsten Carbide branch of the China Tungsten Industry Association predicted that by 2015, China carbide production will reach 30,000 tons, according to tungsten carbide industry consumption accounted weighted calculation; the carbide industry consumption of tungsten will keep 10 % growth.
According to the “12th Five-Year Plan” of the steel industry, to 2015 , special steel production accounts for a total steel output accounted for from the current 5% to 10% , weighted according to the proportion of tungsten consumption of steel industry , special steel industry tungsten consumption growth is maintained at between 7 % and 8 % . We assume that the consumption growth of the rolled products industry and other industries tungsten’s 0, according to the proportion of each downstream industry weighted, we calculate that the tungsten demand will maintain a 7.5% growth in the future.
Price: supply smooth contraction and steady growth in demand support the price of tungsten upward.
By the above analysis, in the next few years, the supply of tungsten is decreasing by about 1% and the demand is increasing by 7.5%per year, the supply contraction and demand addition supporting the tungsten price for a long-term upward. Taking into account the integration with the the Minmetals Group of tungsten industry in recent years, the tungsten industry concentration continuo improvement of, higher industry concentration makes Chinese tungsten industry has the ability to appropriate adjustments to supply downstream demand conditions , tungsten basic surface in the state for slightly less than the demand . Finally, if we take into account the rising cost of purchasing and storage as well as state and local governments may behavior of tungsten production factors, we believe that the long-term price of tungsten in the uplink channel industry leaders in the process of rising prices , the most obvious benefit.
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
The Tungsten Industry Fundamentals Analysis - Ⅰ
- Details
- Category: Tungsten's News
- Published on Monday, 14 January 2013 16:24
- Hits: 2482
The global tungsten supplies include nature tungsten (76%, 66% are turned into termination
products, the other 10% are the production wastes, which are turned into renewable tungsten again) and renewable tungsten (24%). The native tungsten includes Scheelite (Difficult mining, mainly for the production of tungsten iron), Wolframite (Easy for quality tungsten mining, the raw materials for tungsten refining and tungstate manufacturing.) and the black and white mixed tungsten mine. There accounted for proportions are 69%, 22% and 9%.
Germany Focusing on Canada's Mineral Wealth
- Details
- Category: Tungsten's News
- Published on Friday, 11 January 2013 10:49
- Hits: 2376
Canada is increasingly being looked upon by Germany as a source of supply for strategic raw materials.
The 500-member Canadian German Chamber of Industry and Commerce is promoting Canada as a stable and viable place to invest, establish a presence and form strategic partnerships.
With Canada acknowledged as a global mining hub and a friendly producer of metals, the chamber is pushing for more business relationships between the two countries as mineral resources are taking a new priority in the European country.
“The German companies are realizing that Canada has a lot of potential and it's politically stable,” said Aarti Soerensen, the chamber's manager of mining and mineral resources. “It's not a complicated country.”
Germany is one of the world's largest consumers of raw materials and its companies are increasingly looking for secure sources of resources to feed its high-tech manufacturing and processing sector.
Spurred by global events with China's increasing grip in accessing strategic resources and the race for Africa's mineral wealth, Germany's federal ministry of economics and technology launched a new raw materials strategy in 2010.
Germany has traditionally sourced its raw materials from China, Africa and South America.
In sizing up the volatility of commodity prices and general global uncertainty, the German government wants to diversify its sources of raw material supply.
“It really showed that Germany was in a difficult position over the last 20 years,” said Soerensen. “We don't have significant companies in the metals sector.”
Many companies are engaged in aggregate material, but not so much in strategic metals like tungsten, tantalum, germanium, zinc, copper, molybdenum used in specialty glass, metal alloys and the renewable energy sector.
“We have a number of processing companies with refineries that do value-added processing, and we have a huge sector of high-end manufacturing that depends on the imports of those metals,” said Soerensen
“But we depend 100 per cent on imports for all these metals that we don't have the ownership (stake) in the sources.”
Thanks to the Canadian German chamber, Canada is now one of the identified target markets.
“We believe that Canada has been underestimated and undervalued,” said Soerensen. “It's an ideal partnership with Canada being a net exporter of a lot of these minerals. Germany has equipment in the mining sector that could be very beneficial to supply this booming industry.”
With great examples of German success stories already operating in Canada, namely Siemens and Festo, Soerensen said there are cross-cultural values that offer a great fit toward better co-operation.
In seeking to promote closer ties on the mineral front, the chamber has established a Competence Centre for Mining and Mineral Resources.
In November, the chamber hosted a German business delegation and conference in Toronto that included one-on-one matchmaking meetings with potential Canadian partners.
Soerensen said there was a broad mix of visiting companies engaged in mineral exploration and contracting, software development, steel trading, supplying conveyors and ore-handling equipment, as well as one fully integrated mining company seeking off-take agreements and to make a long-term investment in a project development.
Most of the one-on-ones took place in Toronto, but one company did travel to Sudbury to meet with Wallbridge Mining officials.
She expects some German companies will return for next spring's Prospectors and Developers Association of Canada (PDAC) show in Toronto when the chamber intends to have an expanded presence.
“I think there will be around 25 companies here at PDAC.”
Soerensen said if there's sufficient interest from Canadian mining-related companies and organizations, she wouldn't rule out a return trade mission to Germany in the near future.
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
US Tungsten Corp. Announces New Board Member and Officer
- Details
- Category: Tungsten's News
- Published on Friday, 11 January 2013 10:06
- Hits: 2347
HENDERSON, NV - Jan 10, 2013 - US Tungsten Corp. ("USTU", the "Company")
The company is pleased to announce that as of January 8, 2012 Mr. Barry Wattenberg was appointed as Treasurer and as a Director of the company.
Mr. Wattenberg, 57, graduated Carnegie-Mellon University in 1977 with degrees in B.S. Management and B.S. Economics. He has served in various roles within the securities industry and on the board of several small publicly held companies.
Matthew Markin, President, stated, "I am happy to have Barry joining me at the Company. His proven ability to recruit top experts in their field(s), and create as well as organize a first class management team will serve the company well. Mr. Wattenberg will be tasked with the search committee responsibility to fill the roles of CEO, Geologist/Advisor, Legal and Industry Advisor and other such experts as this project requires."
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com
N.S. Firm Signs on for Nevada Mining Site
- Details
- Category: Tungsten's News
- Published on Friday, 11 January 2013 09:52
- Hits: 2459
Bedford-based company inks lease, has high hopes for silver, gold finds on property
NSGold Corp. of Bedford has signed a lease and purchase option agreement with Cerro Rico Ventures LLC for a property in Humboldt County, Nev.
“We are hopeful for gold and silver,’” Glenn Holmes, NSGold’s chief executive officer, said in an interview Thursday.
Holmes said the Silver Hill property, which includes 36 unpatented claims, is in an area with producing gold mines.
“It’s known for gold production.”
The property also has potential silver, copper, arsenic and tungsten deposits, Holmes said.
Under the deal’s terms, NSGold, through its wholly owned subsidiary, NSGold Nevada Inc., may, at any time during the 10-year agreement term, purchase a 100 per cent interest in the Silver Hill property by making a cash payment of US$1.25 million.
The agreement requires NSGold to make a US$40,000 payment upon signing and to make advance minimum royalty payments of US$25,000 on or before the first anniversary of the signing of the deal, US$35,000 on or before the second anniversary of signing and $50,000 on or before the third and subsequent anniversaries.
The advance minimum royalty payments will be credited against a three per cent production royalty based on net smelter returns from production or sale of minerals.
NSGold will have the right to purchase two per cent of the production royalty for US$1.5million before production begins.
Holmes said the company plans to do initial prospecting, sampling and mapping of the Silver Hill property — “a typical first pass” — in the next quarter that will help determine subsequent development work.
NSGold’s principal project is the Mooseland gold property on the Eastern Shore, where it recently completed a third round of drilling.
NSGold shares were trading Thursday for 10 cents on the TSX Venture Exchange, up a cent from their previous close.
Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com