Bernard Tourillon, Chairman, CEO and Director of Uragold Bay Resources goes “Beyond The Press Release” to discuss Letter Of Intent Regarding the Acquisition of 32 Claims Covering the Section of the 6.5 KM Long Historical Beauce Paleoplacer Gold Channel not Owned by Uragold.
Posts Tagged ‘#mining’
Excellent Results at New Lexaria Oil Well
Kelowna, BC /September 16, 2014 / Lexaria Corp. (LXRP-OTCQB) (LXX-CNSX) (the “Company” or “Lexaria”) is very pleased to report excellent oil production rates at the new PPF-12-7 oil well at Belmont Lake, Mississippi. The well is now flowing and selling oil.
As of Friday September 12, the well was producing approx 120 bo/d on a 12/64th choke. For Sept 13 it produced 119 bo/d on an 11/64th choke; and on Sept 14 it produced 119 bo/d on a 10/64th choke. No formation water has been produced. Flowing pressures increased each day as choke sizes were reduced, indicating healthy reservoir pressures. This is one of the highest flow rates ever for a Belmont Lake well, and more than meets Lexaria’s expectations. The 12-7 well is located further east than any other existing well in Belmont Lake field, further expanding the producing boundaries of the field which are still undetermined.
The operator and owners intend to restrict this well to 90 bo/d for the intermediate term on an even more restricted choke, and to monitor the well over time to optimize production in the short and long terms. This allows for more prudent operation of the well and field over time, as many Frio-formation wells can produce oil for as long as 10 or 15 years.
Although earlier sidewall core analysis indicated 19-20 feet (true vertical depth) of oil bearing pay, only the upper 8 feet of the well was perforated in order to stay above the oil/water contact zone.
“Taken within the context of this conservative perforation technique and the restriction from the small choke size, I view the oil production rates from this well as even more positive,” said Chris Bunka, President.
Lexaria congratulates its operator and co-owners of the 12-7 well as the Belmont Lake oil field continues to provide positive results.
Additional information, including longer term performance, will be released when available. Griffin & Griffin Exploration, LLC is the operator of the well which was drilled in Section 41, Township 2 North – Range 4 West of Wilkinson Country, Mississippi.
Lexaria retains a 42% working interest in the producing 12-1 and 12-3 wells; a 50% working interest in the suspended 12-4 and 12-5 wells; and a 13.3% working interest in the 12-7 well. Lexaria is actively reviewing all possible ways of maximizing value from the Belmont Lake oil field assets.
Lexaria’s shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for projects that could provide potential above-market returns.
To learn more about Lexaria Corp. visit www.lexariaenergy.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman & CEO
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that road or site conditions will be favorable for field work; no assurance that well treatments or workovers will have any effect on oil or gas production; no assurance that oil field interconnections will have any measurable impact on oil or gas production or on field operations, and no assurance that any expected new well(s) will be drilled or have any impact on the Company. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions including but not limited to surface flooding can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings. There is no assurance that the completion of the 12-7 well or the new production facility will continue to produce commercial quantities of oil.
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Proposed 10k-sq-ft facility projected to be running by 2017 for Model 3 launch.
September 4, 2014
by By JUSTIN PRITCHARD and SCOTT SONNER, Associated Press
RENO, Nev. — To bring electric cars to the masses, Tesla Motors will transform an expanse of desert where pioneers passed on their way to the California Gold Rush and wild mustangs still roam the hillside.
This time, the rush will be in Nevada, which Tesla chose over four other states as the site for a $5 billion factory that the carmaker projects will crank out enough high-tech car batteries to power 500,000 vehicles annually by decade’s end.
Nevada’s elected leaders still must deliver on the economic incentives they’ve promised, but if they do as expected, Tesla will open its massive factory at an industrial park outside Reno, according to a person familiar with Tesla’s plans. The person spoke on condition of anonymity because no official announcement had been made. An announcement was scheduled for Thursday afternoon at Nevada’s Capitol.
U.S. Senate Majority Leader Harry Reid, D-Nevada, acknowledged Thursday at his Clean Energy Summit in Las Vegas that Tesla was coming to Nevada, and said he had spoken with Nevada Gov. Brian Sandoval about it.
A state synonymous with gambling hit the jobs jackpot — Tesla has said the factory will employ about 6,500 people. That’s a welcome jolt for a tourism-based economy particularly hard hit during the Great Recession.
Tesla’s choice of Nevada over California, Texas, Arizona and New Mexico takes it a big step closer to mass producing an electric car that costs around $35,000 and can go 200 miles on a single charge. That range is critical because it lets people take most daily trips without recharging, a major barrier to the widespread adoption of electric vehicles.
The “gigafactory,” as Tesla calls the project, would bring the cost of batteries down by producing them on a huge scale. Its approximately 10 million square feet, equivalent to about 174 football fields, would be running by 2017. That is when Tesla hopes to introduce its Model 3,
At present, demand for electric vehicles is small.
Through August, automakers have sold just over 40,000 fully electric cars this year, up 35 per cent from a year ago, according to the auto website Edmunds.com. Factoring in plug-in hybrids, electric vehicles still account for just 3.6 per cent of all new car sales, a slight drop from last year. Still, government fuel economy standards that will require new cars and trucks to average 54.5 miles per gallon are expected to drive sales.
Gov. Sandoval’s office wouldn’t comment Wednesday on the gigafactory news, saying only that he would make a “major economic development announcement” Thursday. A spokesman for Tesla Motors Inc., based in Palo Alto, California, said company representatives would be at the Capitol in Carson City for the announcement but offered no other details.
Sandoval has declined to discuss incentives he has offered Tesla. Based on CEO Elon Musk’s public statements, the incentives likely total at least $500 million. The governor would have to call a special session of the Legislature to approve tax breaks, grants or other incentives of that magnitude.
This spring, Musk announced that the company would take the unusual step of spending millions to prepare sites in two states _ or perhaps even three _ before choosing a winner. The person familiar with Tesla’s plans told The Associated Press a second site still will be prepared, in case Nevada is unable to deliver the incentives it has promised, or possibly to build a second factory.
Tesla has done excavation and other site-preparation work at the Tahoe Reno Industrial Center, where it plans to build the factory, but had not publicly committed to building in Nevada until it tested what economic incentives other states offered. The centre is about 15 miles east of Sparks, a Reno suburb founded as a railroad town more than a century ago.
Aside from low tax rates and business-friendly workplace laws, Nevada offered plenty of sun and wind to generate “green” power. The industrial park is only about 200 miles along Interstate 80 from Tesla’s lone auto assembly plant in the San Francisco Bay Area. It’s also near a deposit of lithium, an essential element to produce the battery cells.
Reid said that ready supply was an important part of Nevada’s bid, and pointed to a $28.4 million Department of Energy grant in 2010 for a lithium carbonate and lithium hydroxide plant in Silver Creek, Nevada.
Competition for the factory has been intense among the states, which bid up their incentive packages in private negotiations with Tesla.
In California, where Tesla has its headquarters and manufacturing plant, the decision to build in the state next door stung.
“Tesla was using their business savviness to get states to compete against one another,” said state Sen. Ted Gaines, R-Roseville, a principal proponent of the project. “It’s just that I felt California had the inside track given our history of working in partnership with Tesla.”
Associated Press writers Ken Ritter in Las Vegas, Juliet Williams in Sacramento, California, and AP Auto Writer Tom Krisher in Detroit contributed to this report.
Why Stria Lithium?
- Aiming to become one of the lowest cost producers in the world for battery- grade technology lithium — critical for high-technology green energy industries.
- Management is key. Stria has assembled a truly world-class, experienced and accomplished team.
- Stria’s strategic, cost-effective exploration substantially reduces the risks and expenditures of exploration by focusing on deposits that are readily available to advance.
- Stria’s unique and extensive experience in understanding and utilizing the latest, most-advanced geophysical tools affords the Company a competitive edge within the industry.
- The lithium market remains robust with tremendous upside potential versus other metals.
A New Source, a new process for technology lithium
Several foreign nations are already stockpiling materials critical to the emerging green technology economy, which means a reliable North American supply of high quality lithium-based products has never been more urgent. Stria believes Canada has a key role to play in the green tech economy, and plan to be a part of it by carving out a supply and technology niche in the critical and strategic metals world.
Proprietary Processing Technologies
Stria President and Chief Operating Officer Julien Davy said the company’s ultimate goal is to produce high-purity (99.999%) lithium metal or other lithium compounds that meet the needs of battery manufacturers for an environmentally sustainable supply option that dramatically reduces costs. “Any lithium process that significantly reduces production costs will help changing the battery market,” said Mr. Davy.
Pontax-Lithium property …
Stria holds 100 per cent ownership of the Pontax-Lithium property located in the west-central James Bay territory in northern Quebec.
The property, which Stria acquired from Khalkos Exploration Inc. in 2013, is host to a recently discovered swarm of a dozen spodumene-bearing (a lithium mineral) pegmatite dikes, each one metre to 10 metres in thickness, plus a series of small centimetre-thick dikelets.
The lithium-bearing dikes outcrop over an area of 450 metres by 100 metres (for more information, click here to view the NI-43-101 Technical Report (Girard,2013) on the Pontax-Lithium Property).
Close-up view of Pontax’s spodumene-bearing pegmatite. The light grey spodumene is idiomorphic and lath-shaped. The intergranular grey mineral is quartz.
Willcox Lithium / Arizona
Stria holds 100 per cent ownership of the Willcox Lithium project, located in Cochise County, Arizona. Acquired through the purchase of Pueblo Lithium LLC from AGR-O Phosphate Inc. in 2014, the property is comprised of 61 lode mining claims.
The purpose of the 2014 Willcox drilling program is to confirm historic exploration results and to test groundwater samples for use in Stria’s proprietary membrane processing technologies now under development. This technology will allow Stria to recover lithium from brine type deposits without the need of large scale evaporation ponds and their associated environmental impacts.
Garibaldi Resources Corp. Reports High-grade silver and increasing base metal values sampled up to 3 km south of Silver Eagle discovery
VANCOUVER, Aug. 22, 2014 – Garibaldi Resources Corp. (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to report that as Phase 2 diamond drilling continues at its Silver Eagle target (Rodadero North Project) in central Sonora State, surface sampling results from mineralized outcrops indicate continued high silver values in addition to a significant increase in base metal content (up to 14.9% lead and 1.8% zinc) 1.5 km to 3 km south of discovery hole SE-14-01.
Phase 1 drilling confirmed a shallow high-grade mineralized system open in all directions at Silver Eagle and apparently widening to the south toward the Reales area (see August 5, 2014 news release). Further work is continuing to determine the relationship between the Silver Eagle and Reales targets.
Steve Regoci, President and CEO of Garibaldi, commented: “The similarities of the silver grades in our sampling from Silver Eagle to the south are extremely encouraging. This also correlates with our hyperspectral ‘hot spot’ signatures that initially identified the contiguous Silver Eagle and Reales targets.
“Importantly, as we track mineralization through Reales, we continue to sample high silver grades while the base metal content appears to increase substantially. To the east and southeast of Silver Eagle, we’re investigating what seems to be predominantly gold-silver mineralization with some very high metal values from sampling as previously announced. The clustering of targets along a 10 kilometer distance at Rodadero North is the focus of an expanded exploration program.”
Assays from a total of 23 rock samples selected 1.5 km to 3 km south of Silver Eagle ranged from 6.5 g/t Ag to 549 g/t Ag, and from 0.15% Pb to 14.9% Pb. Average values from these selected dump, grab and channel samples were 117 g/t Ag and 4.9% Pb.
Highlights from the sampling at Reales are as follows:
|Sample No.||Target||Ag (g/t)||Pb (%)|
Four of the above samples from Reales central also returned elevated copper values ranging from 0.16% in sample no. 121036 to 0.66% Cu in sample no. 865080. Two samples (26149 and 865080) from Reales central returned zinc grades of 1.8% and 0.49%, respectively.
Sampling will soon be carried out over the northern section of Reales and additional areas throughout the target.
By the nature of the biases of sampling, the above sampling results are not necessarily representative of mineralization at Rodadero North in general or, specifically, within the zones, structures or geological features that were sampled.
Sampling data from other target areas at Rodadero are being compiled and interpreted, and the Company looks forward to releasing additional results in the near future.
A Rodadero Project map can be viewed by going to the following web site URL:
Quality Assurance & Control
Garibaldi maintains strict QA-QC protocols for all aspects of its exploration programs that include the systematic insertion of blanks and standards into each sample batch. Acme Labs (now part of the Bureau Veritis group that includes BSI Inspectorate) performed assay analyses on core, and ALS Global (formerly ALS Chemex) performed analyses on rock samples. All samples were assayed using certified and industry standard assay techniques for gold and multi-element packages for other elements and for over-limits. Au was analyzed by 30 or 50 gram fire assay with an atomic absorption finish, and other elements were analyzed by multi-element ICP.
Dr. Craig Gibson, Certified Professional Geologist and a director of Garibaldi, is a non-arms length Qualified Person for the Company’s Mexico projects and the direct manager of the technical programs operated under contract by Prospeccion Y Desarrollo Minero del Norte (ProDeMin). Dr. Gibson has reviewed this news release and approved the content thereof.
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: “Steve Regoci”
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.