DNN, BOB.V, AXU, MJS.V, WGA - PennyOtcStock.com Stock Update!
Posted December 31st, 2010 at 07:34pm
Global Hunter Corp. (TSX.V:BOB)(FSE:G5D) is pleased to announce that it recently completed a surface sampling program at La Corona de Cobre. The program was designed to collect surface samples from the numerous prospective shear zones. This will aid in the definition of drill targets to expand on the copper oxide mineralization. Global Hunter has collected approximately 250 samples from the shear zones listed below.
The shear zones and areas of alteration that have been sampled (from East to West ) include the following zones: El Manto; La Golondrina; Cerro Borracho; El Tazon; La Copa; La Varrilla; Et Tazon; Vino Fino; Abisinia; and Las Posadas. The samples will be collected from outcrops along the entire strike lengths of the shears and have been shipped to ALS Chemex Labs in La Serena Chile for analysis. Results will be released as soon as practical after they have been received.
These shear zones can be traced on surface for hundreds of metres, with the longest being Vino Fino, which has been mapped for over 6,000 metres. Local miners are currently extracting ore from several shear zones on the property and transporting it to Enami for processing. The surface sample results in conjunction with previous geophysical work completed on the property Global Hunter intends to prepare a multi-hole drill program on the shear zones scheduled to begin early 2011 as part of its ongoing evaluation of its Corona de Cobre project.
In addition to sampling and drilling of the prospective shear zones at La Corona de Cobre mentioned above, Global Hunter will continue its work on the Las Posadas resource over the coming months and will provide a summary of its progress as information becomes available.
Global Hunter's flagship project is the La Corona de Cobre property, located 70 kilometres north of La Serena, Chile, along the Pan American Highway, within the coastal belt of the Andean Cordillera. The NI 43-101-compliant resource contains 225 million pounds of copper oxide. In addition, Global Hunter has its Rabbit South molybdenum project in south-central British Columbia, Canada.
Majestic Gold Corp. (TSX.V:MJS) (FSE:MJT) is pleased to announce the results of an updated resource estimate on its Song Jiagou Mine. As part of the ongoing assessment on the Song Jiagou Mine, Wardrop Engineering Inc. ("Wardrop") has revised their previous resource estimate (NR 23 April, 2010) as a result of the revision to the contract mining costs (NR 30 September 2010) which allowed cut-off grades to be reduced from 0.40 g/t to 0.30 g/t and warranted a revision of the block model.
Subsequent to the initial resource estimate, Wardrop determined that rotating the block model perpendicular to drilling direction was the most favorable orientation to evaluate the deposit and to calculate the revised resource. The new cut-off grade and the re-orientation of the model significantly increased the overall size of the resource and the contained ounces of gold in both the inferred and indicated categories.
The most significant changes from the previous estimate are: Increase in Indicated tonnes by 35.34% to 33,739,586 tonnes; Increase in Indicated contained gold by 24.09% to 1,244,211 ounces; Increase in Inferred tonnes by 37.96% to 38,812,054 tonnes; and Increase in Inferred contained gold by 7.48% to 1,830,576 ounces.
The increase in the size of the resource from 53 to 72.5 million tonnes will very significantly reduce the strip ratios to be used as Majestic continues its engineering studies on the Song Jiagou mine. Wardrop will move forward now to re-evaluate a production pit design.
Denison Mines Corp. (AMEX:DNN) is pleased to announce that it has filed and obtained a receipt for its final short form prospectus qualifying for distribution in Ontario, Alberta, British Columbia and Nova Scotia: (i) 25 million common shares (the "Common Shares") of the Company issuable upon the exercise or deemed exercise of 25 million special warrants (the "Special Warrants"); and (ii) 1.4 million Common Shares issuable upon the exercise or deemed exercise of 1.4 million flow-through special warrants (the "FT Special Warrants") of the Company which were issued on December 9, 2010 in connection with a previously announced private placement financing through a syndicate of investment dealers.
Denison Mines Corp. engages in the exploration, development, mining, and milling of uranium primarily in the United States and Canada.
Alexco Resource Corporation (AMEX:AXU) is pleased to announce that it has closed the bought deal equity financing announced December 7, 2010 (the "Offering"). The Company has issued 5,000,000 common shares at a price of CAD$8.20 per common share for gross proceeds of CAD$41,000,000. The Offering was led a syndicate of underwriters (the "Underwriters"). The Underwriters received a cash commission of 6% of the gross proceeds raised through the Offering and warrants ("Broker Warrants") equal in number to 4% of the number of common shares issued through the Offering.
Alexco Resource Corp. engages in the exploration and development of mineral properties in Canada, primarily in Yukon Territory.
Wells-Gardner Electronics Corp. (AMEX:WGA) announced that it has extended the employment contract of Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer by three years to December 31, 2014. "The Board of Directors decided that it was in the best interest of the Company to have continuity of senior management as Wells-Gardner embarks on exciting new programs that are expected to bring dramatic growth to the Company including participating in the new Illinois video lottery business as well as upgrading the Company's engineering capabilities," commented Marshall Burman, Chairman of the Compensation Committee of the Wells-Gardner Board of Directors.
Wells-Gardner Electronics Corporation engages in the design, manufacture, assembly, distribution, marketing, and service of electronic components.
Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. PennyOtcStock.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold PennyOtcStock.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://pennyotcstock.com/disclaimer) Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (CRWE.OB) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock.Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period. Crown Equity Holdings Inc. (CRWE.OB) has received twenty-five thousand dollars in cash from Global Hunter Corp. (TSX Venture Exchange (TSX.V:BOB) and the Frankfurt Stock Exchange (FSE:G5D)) for 30 (thirty) days of advertising, as well as for assistance in becoming a fully reporting publicly trading Bulletin Board company. Crown Equity Holdings Inc. (CRWE.OB) has received twenty-five thousand dollars in cash from Majestic Gold Corp. (TSX Venture Exchange (TSX.V:MJS) and the Frankfurt Stock Exchange (FSE:MJT)) for 30 (thirty) days of advertising, as well as for assistance in becoming a fully reporting publicly trading Bulletin Board company.