Gold in Canada: Bravo Gold drills 9.6 m of 5.9 g/t Au at Homestake bvg.c, bva.v, tnr.v, ng.to, grc.to, amm.to, ktn.v, gbn.v, rvm.to, mgn, asm.v, sgc.v, ngq.to, btt.v, alk.ax, nem, fcx, bvn, auy, abx,

  

  So far our interaction with Bravo Gold was a total disaster, even spin out of Bravada Gold did not make this stock fly like others with higher gold prices. We have a very small position and are wondering now whether it is time to accumulate this ugly duckling in total distress? The company just recently raised more than 3 mil in flow through financing at 0.2CAD and the property is under drill now with first results coming out. Everything with discount of 15%-20% to the flow through pricing will be interesting - means that in the range of 0.17CAD - 0.16CAD this story could be entertaining again.

GoldLetter International - take this one with a grain of salt with target price of 0.4CAD, but it gives you a good overview of the company.

Bravo Gold presentation

Bravo Gold Corp. is a well-financed Canadian based exploration company committed to increasing shareholder value with an experienced management team that has successfully demonstrated the ability to identify, explore and develop gold/silver properties within North America.

The company’s major asset, encompassing 2, 5851 hectares, is the 100% owned Homestake Ridge project in B.C., a gold-rich epithermal/VMS-related vein system hosted within Eskay Creek equivalent stratigraphy that is rapidly advancing with excellent drill results. Since initial acquisition in 2003, Bravo has moved the project from grass-roots discovery to delineation of the high-grade mineral resources to further discovery of what may evolve into a substantial gold district in north-western British Columbia.

Bravo also has a 100% option on the Silver basin Project which is located 14km southeast of the Homestake Ridge Project. The Silver Basin project consists of a single amalgamated claim of 760 hectares, Hazelton volcanic and sedimentary rocks underlie the project, which is the same package of rocks that host the bonanza-grade Eskay Creek mine farther north.
The company’s holdings, strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada have been spun-out to Bravada Gold Corp. in which Bravo holds 34 percent shareholding interest.

The Homestake Ridge project is being advanced as a potential high-grade underground mining operation. Since 2003, Bravo has completed over 40,800 meters in exploration and delineation drilling and in 2010 reported a NI43-101 compliant mineral resource estimate for the project of 191,000 ozs gold and 1,350,000 ozs silver plus an inferred resource of 348,000 ozs gold and 7,990,0000 ozs silver at a 3.0 g/t AuEq. cut-off in two separate deposits (1). Multiple exploration targets identified through surface exploration and a recently acquired +630 line kilometre airborne geophysical survey remain to be tested on the property and highlight the “district-scale” potential of the project.

Bravo continues to move the Homestake Project through preparatory stages to facilitate the ultimate development of the project. The company has assembled a group of exploration and mining professionals to advise and advance non-exploration related aspects of the program including data acquisition and QAQC protocols, resource modelling and preliminary engineering, economic assessment, ore metallurgy, road access and permitting.
The project is located on Nisga’a Lisims Treaty Land. Bravo has and continues to develop an integration policy that engages and incorporates local people and economic interests into the exploration and development programs.

Bravo Gold Corp. is affiliated with Manex Resource Group, a private company comprised of an exceptional multi-disciplinary team of professionals, with specific expertise in all the areas of exploration, development and public company administration.

Stockwatch:

Bravo Gold drills 9.6 m of 5.9 g/t Au at Homestake

2010-10-28 16:02 ET - News Release

Mr. Joseph Kizis Jr. reports

BRAVO EXTENDING HOMESTAKE MINERALIZATION; DRILLS 9.6 METRES OF 5.9G/T GOLD

Bravo Gold Corp. has extended mineralization above a three-gram-per-tonne-gold-equivalent cut-off in multiple horizons at the Homestake silver deposit on its 100-per-cent-owned Homestake Ridge project located in northwest British Columbia.

The company provided results on a further 10 drill holes from the 2010 exploration program, including HR10-198, which returned a 0.6-metre interval averaging 56.3 grams per tonne (g/t) gold and 48.3 g/t silver within a broader 9.6-metre interval averaging 5.9 g/t gold and six g/t silver. Drill hole HR10-198, together with holes HR10-197 and HR10-192, define coherent gold-enriched mineralized horizons in the upper volcanic stratigraphy that extend the Homestake silver deposit an additional 200 metres along strike and to the northwest of the 2009 drill-defined limits. Assays are pending for 14 holes that offset this mineralization, which could further expand the potential resources of this deposit.

Drilling in the Fox Reef and Vanguard copper zones returned thick intervals (greater than 100 metres) of strongly anomalous gold (greater than 0.1 part per million), copper and pathfinder elements such as Mo and Bi, which may indicate proximity to large intrusion-related mineral systems, which remain viable targets for future exploration on the property.

Bravo has now completed the 2010 drilling program at the Homestake Ridge project, and crews are in the process of demobilization. A total of 48 core holes have been drilled on the property for approximately 17,924 metres during this year's program. Assays from 20 of these drill holes are pending. Twenty-six drill holes totalling 11,972 metres tested the Homestake silver deposit while 22 drill holes totalling 5,952 metres were completed in six other targets on the property.

An updated long section of the 2010 drill plan and a full compilation of the 2010 assay summaries are available on
Bravo's website."

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Canada Zinc Metals shareholder closer to investing more czx.v, lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck

"Another interesting move by Lundin Mining could be in its core zinc business withCanada Zinc Metals still in the M&A picture. Even after Chinese involvement, company is still at the very attractive levels of valuation. Its Akie deposit represents one of the largest zinc and lead deposits in the world and based in Canada. With recent financing from Tongling, Chinese giant will have more than 30% in Canada Zinc Metals, Lundin Mining is the second largest shareholderafter Tongling now in that company. We were thinking that Mandarin will be the only language for all presentations in that company, but found recently information on the bullboard about Lundin Mining visits to the Akie property - it could be easily confirmed by the management.

"As I have a large shareholding in CZX I stay in regular communication with management. A team from Lundin Mining was up at the property not too long ago. Apparently the visit went very well...don't forget Lukas Lundin is a wheeler and dealer. Trust me - others are knocking too.

Any sophisticated investor (and I know you are one) knows that all it would take is a large pp with another mining company (including Lundin Mining) and the playing field is levelled."

We have mentioned before:

"Among the other developments today, we have mentioned that Lundin Mining has increased its loan facility and the maturity of the loan - will Lukas Lundin go shopping one day to increase his resource base for the next leg up in this commodity bull? He still maintains stake in Canada Zinc Metals along with all Chinese participants - should someone decide to chase this dragon - story could become very interesting."

StockWatch:


Canada Zinc shareholder closer to investing more

2010-10-26 08:11 ET - News Release

Mr. Peeyush Varshney reports

UPDATE ON TONGLING NONFERROUS METALS GROUP HOLDINGS CO. LTD. $18 MILLION PRIVATE PLACEMENT

Further to news in Stockwatch on July 26, 2010, Canada Zinc Metals Corp. has been advised by Tongling Nonferrous Metals Group Holdings Co. Ltd. that the State-Owned Assets Supervision and Administration Commission of Anhui, China, has approved Tongling's application to further invest in Canada Zinc Metals. Tongling will now apply for final approval from the Development and Reform Commission.

Tongling has subscribed, by way of a non-brokered private placement, for 31,386,224 units of Canada Zinc Metals at a price of 57.35 cents per unit for gross proceeds of $18-million. Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant shall entitle the purchaser to purchase, at any time within 24 months from closing, one additional common share of the company at a price of 67.5 cents during the first year and at a price of 77.5 cents during the second year. Upon closing of the private placement, Tongling will own approximately a 36.5-per-cent equity interest in Canada Zinc Metals.

Tongling Nonferrous Metals Group Holdings Co. Ltd., based in Tongling, Anhui, is a state-owned holding company, and one of China's largest copper smelting companies. Tongling's principal activities are exploration, mining, ore processing, smelting and refining, and products processing of copper, lead, zinc, gold, silver, and other non-ferrous and rare metals.

The financing is subject to receiving the necessary approvals of the relevant Chinese regulatory departments and the TSX Venture Exchange."

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Gold Fever: Canada's junior gold miners sparkle as M&A targets TNR.v, MAI.to, NG.to, ABX, GG, AND.to, GRC.to, NGQ.to, SGC.v, AEM, BVN, NEM, FCX, GDX, HUI, XAU, BVA.v, MXR.to, BVG.v, BTT.v, GBN.v

 We are in a new Bull market territory, with Gold moving up against all FIAT currencies.

 

  We have our own M&A candidates in Lithium and REE, Copper and Gold space on this blog, as well: Goldstone Resources is primed for take over by Premier Gold for its share in the growing Hardrock deposit, Tongling - Chinese Copper and Zinc giant is taking now more than 30% in the Canada Zinc Metals and TNR Gold with its recent cyber activity could be a target for its stake in Los Azules, according to some blogs:

"We hope that, finally, market will find out that TNR Gold has gold not only in its name, but holds now 100% of Shotgun Gold deposit in Alaska. With all recent cyber activity in the market we thought that there is no hope in justice for this junior and nobody will ever honor their word again. Nova Gold has proved us to be wrong here. We guess that such a deal took some time and we are raising our hat to the Nova Gold management, who fulfilled their commitment.

Even more, apparently, they can see the value and upside in all assets of TNR Gold in Gold, Copper, Lithium and REE. The deal is done with shares and warrants of TNR Gold. Nova Gold was holding the stake in TNR Gold before and now they have increased it just under 10%. Whoever has been shaken the tree with automated selling, he will not be able to get any more cheap shares in this junior. Management and insiders hold 50% of the company. Among other shareholders is another major - Barrick Gold. Canada Zinc Metals holds a strategic stake in the TNR Gold and Chinese Togling is buying now more than 30% in CZX.v In this light, trip to China will be very interesting: TNR Gold holds REE project in Canada: Big Beaverhouse and with all recent publicity around REE, we can expect some new developments here as well."

  We have found that Argentina and Mining 101 has provided an interesting view on modern M&A warfare and tools used in Canada, where illiquid small cap junior miners provide a fertile ground for potential share price manipulation. We must admit that looking at TNR Gold shareholders and its capital structure we can hardly believe that it could be true, but we better to provide you with all opinions, so that you can always make your own decisions. 

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

 But back to M&A in the gold space - we have wrote about it before and the story is making its way to the headlines with every deal made. Junior miners will be the next driving force of this bull and every deal will attribute more value to the Gold oz in the ground.

"First Gold will make new all-time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double-game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. Markets will be volatile by all means and political tensions will be driving this Gold Bull as well."

Reuters:

DEALTALK-Canada's junior gold miners sparkle as M&A targets


Mon Oct 4, 2010 8:06pm GMT


* High gold prices fuel record M&A activity

* Top producers pay up to $1,100/ounce in ground

* Juniors merge to make strong acquisition targets



(In U.S. dollars unless noted)

By Julie Gordon and Pav Jordan

TORONTO, Sept 16 (Reuters) - When junior miner Andean Resources (AND.AX: Quote)(AND.TO: Quote) sold itself to Goldcorp (G.TO: Quote) for C$3.4 billion ($3.3 billion) last month, it cashed out for about 100 times the amount it had invested in its flagship Cerro Negro gold project.

A host of Canadian gold juniors could pull off a similar feat over the next 12 months as big gold miners rush out to buy smaller companies that own reserves, instead of looking to make their own discoveries.

"Gold miners are just not finding any new gold, meanwhile, the demand is increasing," said Maison Placements analyst John Ing. "So the major gold miners are stuck on a treadmill."

"What we are seeing is that gold companies are paying premium dollars for ounces in the ground," he said. "It's faster and it's easy."

With gold prices seen rising throughout 2011, securing the next big reserve is essential for the top-tier miners.

That has the juniors jumping on the M&A bandwagon, as they look to make themselves more attractive as acquisition targets.

Last week, Gammon Gold (GAM.TO: Quote) offered $288 million to buy out Capital Gold (CGC.A: Quote), in a bid that strengthens its position as a leading Mexico-focused gold producer.

To secure Capital's resources, Gammon had to beat out a hostile bid from Timmins Gold (TMM.V: Quote), highlighting growing competition for viable reserves as gold prices hold their highs.

The Gammon-Capital deal combines the assets and exploration projects of two smaller companies to create the type of mid-tier player that will quickly come into the eager sights of the large-cap miners.

"The biggest gold companies were built by consolidating mid-sized gold companies with existing assets," said Dahlman Rose analyst Adam Graf, adding that companies need to keep acquiring new resources, or risk getting hit where it hurts.

"You've got a lot of big companies, that have a lot of tired assets, which are coming to end of life," he said. "Their costs are going to go up, and their production is going to go down."

Higher costs on lower production is exactly what Kinross Gold (K.TO: Quote) was trying to avoid when it paid $7.1 billion to buy Red Back Mining (RBI.SG: Quote) back in August.

The deal vaulted Kinross into an exclusive group as one of the top five gold miners in the world by market capitalization, and will bump 2010 production up 23 percent to 2.7 million ounces. The Toronto-based company is projecting 2015 gold production of about 3.9 million ounces.

Gold prices eased on Monday, after hitting a record high of $1,315.60 an ounce on Friday.

Meanwhile, mining-related mergers and acquisitions are happening at a record pace in 2010, with 40 percent of all global deals involving gold companies, according to PricewaterhouseCoopers.

Analysts say the price of gold coupled with the M&A climate has created a perfect storm that will likely send shares soaring for juniors like Guyana Goldfields (GUY.TO: Quote), Osisko (OSK.TO: Quote) and Aurizon (ARZ.TO: Quote), which are all sitting on major assets.

NEXT BIG THING

"I think there is a bunch of stuff to come in gold," said Dan Barclay, head of mergers and acquisitions, Canada, for Bank of Montreal (BMO.TO: Quote). "I think CEOs of gold companies believe prices are going to go higher."

Prior to its deal with Capital, Gammon was on the target list of promising junior miners for most companies in acquisition mode. Shares in the Halifax-based company have jumped over 36 percent in the past 90 days.

Toronto-based Guyana Goldfields has soared 55 percent in the same time period, with its flagship Aurora mine set to start production in the second half of 2012.

Meanwhile Osisko, which is in the process of developing its massive Malartic project in resource-rich Quebec, plans to be a million ounce per year producer by 2016, sending its shares up almost 35 percent in the last three months.

In the 90 days leading up to its plum purchase by Goldcorp, shares in Andean Resources rose about 73 percent, as positive numbers increased the allure of its 3.1 million ounce Cerro Negro project in Argentina.

While the project has the potential to lift its resource base by 50 to 70 percent, analysts have valued Goldcorp's bid for Andean at around $1,100 per ounce of gold reserves.

"The kicker here is the finding cost," said Ing. "Andean's cost of finding those 3 million odd ounces was only $15 an ounce."

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• Goldcorp Grabs Andean For $3.4 Billion: Minera Andes breaks out to the upside on a big volume MAI.to, TNR.v, CZX.v, GG, AND.to, NGQ.to, AUY, BVN, ABX, NEM, GDX, GDL, NUI, XAU, SSRI, (sufiy.blogspot.com)
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• Investing in Lithium: Looking for Catalyst TNR.v, CZX.v, RM.v, LIT, LIT.v, TSLA, HEV, AONE, CLQ.v, WLC.v, ABN.v, HAO.v, FMC, SQM, (sufiy.blogspot.com)
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TNR Gold Corp. States No Adverse Material Change / Proceeding as Proposed With International Lithium Spin-Off TNR.v, CZX.v, NG.to, ABX, RM.v, LIT, LI.v, WLC.v, CLQ.v, MAI.to, GRC.to, NGQ.to, SGC.v, NEM, FCX

 

"For us it is the very powerful combination: Warren Buffett, China and electric cars. Latest move by BYD into Lithium space in order to secure supply of strategic commodity confirms our observations and investment thesis. In our educational exercise on this blog we are privileged to learn from the Master himself."

"In time of quants, flash crashes and cybertraders good old common sense and understanding of basic instincts and emotions will keep us cool and our investments in our publishing business save. Yes, we will be talking about Warren Buffett. Most of the people these days will spend more time selecting the plasma TV than stocks they own. We call it "plasma TV effect". We are still wondering - why is it so difficult for us to get rid of the warm herd feeling and it is so easy to chase the stocks which are going up? "Buy when nobody wants it" - we reminded to ourselves this summer and enjoyed the party. With plasma TV we are always happy when it is on Sale, with stocks it is so difficult to buy, when they are down. Warren Buffett says: "Be Fearful When Others Are Greedy And Greedy When Others Are Fearful." What makes him different? He is able to act as he says. He was buying BYD stake when the world was falling apart in Fall 2008 and his investment of 232 million USD made an incredible 1 billion dollars paper profit by Summer 2009.



Please do not get us wrong: in order to act like this you need to be Warren Buffett, that is why we are always following him. And another very important notice: do not forget to check the plasma TV which is on sale - it should be showing video in a high definition and with a 3D sound."

  TNR Gold responds to "cyber trading" activity, about which we have wrote a few days ago. Stock is recovering now, but Scotia was still hitting at every bid with 500 shares even yesterday. Who would like to to punish the company and suppress the price of this junior? Is it mysterious hedge fund specialised in under 20 mil market caps? Is it Big Oil crashing competition from alternative energy or somebody just would like to squeeze a cheap settlement from stubborn company insisting on its property rights - we do not know and will not speculate about it. We have plenty of facts to write about, when we are talking about this company.

  Apparently, company is in the middle of its IPO financing efforts, according to the NR. Cyber trading does not help, but company is on track. Trips are scheduled to China and Europe - our take is that company is carefully considering its best options with available partners from lithium end users.

"Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders." - insiders are stepping in and, according to RCR research note on TNR Gold, Kirill Klip holds 23.5% of TNR Gold already. He bought recently a large block of shares in TNR Gold - 3.3 mil at 0.21CAD in July filed on SEDI. All insiders and management are holding 50% in the company, according to IR.

  News about China are interesting, there are a few weeks of holidays normally starting in mid September - we guess it maybe the reason for a delay in closing of financing. Then again, who would like to jump into the bad marriage - IPO is very important for this company and Mariana is shaping nicely according to the latest presentation. We like to see very interesting Potash grade at Mariana among Lithium and other rare metals in International Lithium portfolio.

  Kirill Klip is involved in another junior miner in Canada - Canada Zinc Metals, that company is closing financing now with  Tongling - Chinese copper and Zinc giant will be holding more than 30% of the company. We can guess that TNR Gold and International Lithium have some introductions in China already as Canada Zinc Metals holds a "strategic investment stake in TNR Gold".

  Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

TNR Gold Corp. States No Adverse Material Change / Proceeding as Proposed With International Lithium Spin-Off

Press Release Source: TNR Gold Corp. On Tuesday September 28, 2010, 7:43 pm EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2010) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR - News) and wholly-owned International Lithium Corp. ("ILC") (jointly the "Company") is stating that the Company knows of no adverse material change that would explain the recent market activity and is proceeding with the plan of arrangement to spin-off of the Company's rare metal projects into International Lithium Corp.

In order to complete the plan of arrangement, the Company is intending to raise a minimum of $2.5 million to provide International Lithium with sufficient operating and administration funds to satisfy Exchange requirements for listing. The proposed financing will entail the offering of a minimum of 10 million units in ILC priced at $0.25 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of ILC at a price of $0.375 for a period of two years from the date of closing. Certain fees may be payable for a portion of the placement.

Company executives are focused on the completion of the private placement in an expeditious manner including traveling abroad to China and Europe to transact with potential investors and end product users that the Company has developed strong relationships with over the course of the last year.

Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders.

Upon closing of the financing the Company will file the required final paperwork with the applicable regulatory bodies in order to complete the listing process of International Lithium Corp.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp upon completion of a proposed plan of arrangement.

The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit International Lithium's website.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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Gold in Canada: Goldstone Resources: Premier Gold drills 53 m of 5.49 g/t Au at Hardrock GRC.v, PG.to, TNR.v, GBN.v, NGQ.v, SGC.v, ASM.v, RVM.to, MGN, EPZ.to, KTN.v, BTT.v, ALK.ax, GG, NEM, BVN, ABX, KGC, AUY

  Now Goldstone Resources is back to business and Hadrock deposit continues to grow. "Drilling at Hardrock continues to deliver strong results in multiple zones that are expected to add materially to our current gold resource." Share price is to follow.

  CS. We have a final accord of Corporate Governance in action in Canada. So many managers forget that they are hired to run the company by its shareholders and company belongs to them. Management's main goal is to build value for shareholders, avoid unnecessary dilution and think about the business like its owners would think by themselves - it is a dream some would say and they will be right. So go where owners are in charge as well and management has significant stake in the business. You have already more than enough risk in junior mining in order to be engaged in games around dilution, options, salaries, offices and perks.

  Goldstone Resources has joined today the club with NGeX resources, where Lukas Lundin owns stake and is Chairman of the board, and both Minera Andes and TNR Gold have their own major shareholders holding large stake in the companies



Stockwatch:


Premier Gold drills 53 m of 5.49 g/t Au at Hardrock

2010-09-28 09:55 ET - News Release

See News Release (C-PG) Premier Gold Mines Ltd

 

Mr. Ewan Downie of Premier Gold reports

PREMIER - DRILLING EXPANDS DEEP GOLD ZONES AT HARDROCK 5.49 G/T AU ACROSS 53.0 M INCLUDING 11.34 G/T AU ACROSS 19.5 M

Premier Gold Mines Ltd.'s deep drilling continues to delineate significant gold mineralization in multiple horizons below historically mined zones where more than 2.1 million ounces were produced to maximum depths of only 600 metres at the Hardrock project in Northwestern Ontario. Because of continued success, additional drills are being added such that 11 drill rigs will be operational on the property in the coming weeks. Recent highlights include the following results:

 

Deep drilling in the F-zone, following up a previously released intersection of 9.28 grams per tonne (g/t) gold (Au) across 28.4 metres (m) (0.27 ounce per ton across 93.2 feet) in MM093, has returned 5.49 g/t Au across 53.0 m (0.16 ounce per ton across 173.9 feet) including 11.34 g/t Au across 19.5 m (0.33 ounce per ton across 64.0 feet) in MM172.

Deep drilling to the west of historic mine workings in the F-zone returned multiple gold intersections including 4.36 g/t Au across 17.8 m (0.13 ounce per ton across 58.4 feet) and including 8.36 g/t Au across 4.3 m (0.24 ounce per ton across 14.1 feet) in MM157. Of note, this intersection is located 300 metres west of, and 50 metres below, the deepest and westernmost mining.

Deep drilling in the North zone and F-zone continues to intersect strong gold values suggesting excellent resource potential proximal to and below existing mine workings.

"Our deep drilling below the historic mine workings is returning impressive results in three separate areas. This is very significant for the project because it confirms that the historic zones extend to depth and are wide open for expansion," stated Tim Twomey, exploration manager for Premier. "Drilling at Hardrock continues to deliver strong results in multiple zones that are expected to add materially to our current gold resource."

F-zone

The F-zone is the largest of the past-producing mine zones at Hardrock which produced more than 1.4 million ounces utilizing bulk underground methods with widths often exceeding 30 metres (100 feet). Importantly, hole MM172 tested up plunge of an area where high-grade gold mineralization was identified below the F-zone on the bottom mine level (Level 13) but was never mined. This target, which is interpreted to represent a second lens of the F-zone, remains wide open for expansion. Current drilling is focused on defining mineralization proximal to and below the lower levels of the mine. To date, five holes have been drilled over a 250-metre strike length (complete results presented in the associated table), successfully intersecting high-grade gold mineralization including:

 

9.28 g/t Au across 28.4 m (0.27 ounce per ton across 93.2 feet) including 43.50 g/t Au across three metres (1.27 ounces per ton across 9.8 feet) in hole MM093;

5.49 g/t Au across 53.0 m (0.16 ounce per ton across 173.9 feet) including 11.34 g/t Au across 19.5 m (0.33 ounce per ton across 64.0 feet) in hole MM172. This intercept is located approximately 100 metres below the limits of mining of the F-zone on this section.

NEW SUBZONE INTERCEPTS FROM F-ZONE DEEPS

Hole ID From (m) To (m) Interval (m) Grade (g/t) Interval (feet) Grade (ounces per ton)

MM093* 564.1 592.5 28.4 9.28 93.2 0.27

Including 588.0 591.0 3.0 43.50 9.8 1.27

MM100* 660.0 694.5 34.5 2.10 113.2 0.06

750.2 759.5 9.3 4.71 30.5 0.14

MM116

Extension 816.0 817.5 1.5 9.70 4.9 0.28

MM025

Extension 709.1 732.4 23.3 2.08 76.4 0.06

Including 709.1 710.3 1.2 8.49 3.9 0.25

Including 728.6 732.4 3.8 5.31 12.5 0.16

MM172 640.5 693.5 53.0 5.49 173.8 0.16

Including 674.0 693.5 19.5 11.34 64.0 0.33

*Denotes previously released drill holes.

True widths estimated at approximately 60 to 70 per cent of intersection.

Note that gaps in hole numbers in these tables are due to 10 different drill rigs assigned the next sequential

drill-hole number as each hole is completed. These are being drilled in five separate areas within the Hardrock

project. Other hole numbers can be considered to carry no significant values or are included in other zones,

some of which may have already been released.

 

Hardrock western deeps (F-zone)

One drill is currently testing for mineralization to the west of, and below the limits of, historic mining at Hardrock which was mined to a maximum depth of 600 metres. This is considered to be shallow for an Archean gold deposit, with more than 2.1 million ounces having been recovered. The new drilling is located approximately 300 metres to the west of, and 50 metres below, the westernmost mined area at Hardrock. Two gold zones were intersected in hole MM157 with assays of 4.36 g/t Au across 17.8 m (0.13 ounce per ton across 58.4 feet) including 8.36 g/t Au across 4.3 m (0.24 ounce per ton across 14.1 feet) and a second zone that returned 5.44 g/t Au across 4.5 m (0.16 ounce per ton across 14.8 feet). Additional drilling in this new area is continuing. New drill results from the western extension area are contained in the associated table.

NEW SUBZONE INTERCEPTS FROM WESTERN EXTENSION DRILLING

Hole ID From (m) To (m) Interval (m) Grade (g/t) Interval (feet) Grade (ounces per ton)

MM157 899.5 924.0 24.5 3.21 80.4 0.09

Including 904.7 922.5 17.8 4.36 58.4 0.13

Including 904.7 909.0 4.3 8.36 14.1 0.24

938.5 943.0 4.5 5.44 14.8 0.16

True widths estimated at approximately 60 to 70 per cent of intersection.

North zone

Drilling is also focused on expanding mineralization below the bottom level of the historically mined North zone which remained open at the time of closure. New drill results from the North zone are contained in the associated table. Of note, hole MM164A, which represents the deepest hole drilled to date within the North zone target, approximately 570 metres down plunge of the bottom level of the mine (Level 13), has returned 12.25 g/t Au across 2.4 m (0.36 ounce per ton across 7.9 feet). Continuing drilling with four drill rigs is continuing to expand mineralization in this area. An X-zone in MM155D grading 29.10 g/t over 1.5 m is a quartz vein that will require close-spaced drilling likely from underground to measure its potential. It is located near MM073 which returned 17.70 g/t over 1.5 m.

NEW SUBZONE INTERCEPTS FROM NORTH ZONE

Hole ID From (m) To (m) Interval (m) Grade (g/t) Interval (feet) Grade (ounces per ton)

MM106E 776.5 781.9 5.4 3.61 17.7 0.11

Including 781.0 781.9 0.9 7.29 3.0 0.21

790.5 792.7 2.2 4.24 7.2 0.12

799.8 801.0 1.2 5.17 3.9 0.15

807.4 811.7 4.3 4.53 14.1 0.13

MM155 551.3 554.8 3.5 42.00 11.5 1.23

722.0 724.0 2.0 10.66 6.6 0.31

MM155A 908.5 911.5 3.0 5.97 9.8 0.17

917.5 919.2 1.7 3.84 5.6 0.11

MM155B hole abandoned

MM155C 839.8 840.9 1.1 5.12 3.6 0.15

853.5 855.0 1.5 4.05 4.9 0.12

877.5 885.5 8.0 4.83 26.2 0.14

Including 882.5 884.0 1.5 15.90 4.9 0.46

534.0 535.5 1.5 29.10 4.9 0.85

MM155D 849.3 850.4 1.1 6.41 3.6 0.19

863.8 865.5 1.7 6.68 5.6 0.20

800.0 801.5 1.5 5.38 4.9 0.16

MM155E 849.1 850.5 1.4 6.72 4.6 0.20

857.7 858.3 0.6 7.66 2.0 0.22

862.0 865.5 3.5 4.71 11.5 0.14

825.7 829.1 3.4 5.95 11.2 0.17

MM155F 840.4 844.5 4.1 3.21 13.4 0.09

854.4 855.4 1.0 12.40 3.3 0.36

MM164A 951.4 953.8 2.4 12.25 7.9 0.36

Including 951.4 952.8 1.4 19.94 5.2 0.58

962.5 964.0 1.5 14.00 4.9 0.41

MM165 403.0 406.7 3.7 8.23 12.1 0.24

513.0 517.0 4.0 16.66 13.1 0.49

True widths estimated at approximately 60 to 70 per cent of intersection.

Missing holes can be considered to carry no significant value or will be included with other zones.

NN zone drilling

Recent drilling continues to define mineralization within the NN zone, down plunge and at depth below the previously announced, near-surface, National Instrument 43-101 resource estimate at Hardrock. Drilling in the NN zone is shifting from a focus on open-pit-style mineralization to defining narrower, underground-style resources. Recent drilling has returned numerous significant intersections (previously released) including 9.62 g/t Au across 5.8 m (0.28 ounce per ton across 19.0 feet) in hole MM160, 4.93 g/t Au across 10.5 m (0.14 ounce per ton across 34.4 feet), 22.97 g/t Au across 24.8 m (0.67 ounce per ton across 81.4 feet) and 8.14 g/t Au across nine metres (0.24 ounce per ton across 29.5 feet). Follow-up drilling down plunge of these intersections is under way.

The Hardrock project is operated under a joint venture with Goldstone Resources Inc. (Premier holds a 70-per-cent interest in the project). The Hardrock project is host to several past-producing mines which collectively produced nearly three million ounces of gold from 1938 to 1968 primarily from shallow depths within 600 metres of surface. The Hardrock project benefits from development advantages with the Trans-Canada Highway, Trans-Canada pipeline and major power lines running through the centre of the property. A revised resource calculation is expected to be completed following the 2010 drill program containing both open-pit and underground-style resources.

Stephen McGibbon, PGeo, is the qualified person for the information contained in this press release and is a qualified person within the meaning of National Instrument 43-101. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ont., for preparation and analysis utilizing both fire assay and screen-metallic methods.

We seek Safe Harbor.

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   "Fight for the Goldstone Resources was very fast and brutal - we like that Mr Cunningham has so low level of tolerance for sloppy performance of the management. After the merger stock just collapsed even below the value of Roxmark Mines main asset 30% in Hardrock. We have raised our concerns before and now we think that it is very positive development for the company, when majority shareholder will lead its management team. With gold at the level of 1250 and Premier Gold flying in the skyes value of the Goldstone Resources should be well north of 1.0CAD at least based on Roxmark Mines market cap before merger."

  CS. We have a final accord of Corporate Governance in action in Canada. So many managers forget that they are hired to run the company by its shareholders and company belongs to them. Management's main goal is to build value for shareholders, avoid unnecessary dilution and think about the business like its owners would think by themselves - it is a dream some would say and they will be right. So go where owners are in charge as well and management has significant stake in the business. You have already more than enough risk in junior mining in order to be engaged in games around dilution, options, salaries, offices and perks.

 Goldstone Resources has joined today the club with NGeX resources, where Lukas Lundin owns stake and is Chairman of the board, and both Minera Andes and TNR Gold have their own major shareholders holding large stake in the companies.

  With record gold prices Golstone now have a lot of room for upside just reflecting its Hardrock deposit growth with Premier Gold operating on the property.

Stockwatch:

Goldstone board gives president, CEO Sheridan the boot

2010-09-27 08:49 ET - News Release

Mr. Philip Cunningham reports

GOLDSTONE ANNOUNCES MANAGEMENT CHANGE AND APPOINTMENT OF DIRECTOR

Goldstone Resources Inc.'s board of directors has terminated the employment of J. Patrick Sheridan, its president and chief executive officer. Philip Cunningham, the chairman of Goldstone, has agreed to assume the position of interim chief executive officer until a permanent replacement is named.

"The termination of Mr. Sheridan was necessary as he was simply not prepared to work with the board or fulfill his responsibilities," stated Mr. Cunningham. "Over the next few weeks, the board of directors of Goldstone will seek to secure a permanent president and chief executive officer, and will take other steps in order to put the company in a position to enhance shareholder value."

Toward this goal, Goldstone also appointed of Charles A. Harnick, QC, as a director of the company.

Mr. Harnick is a co-founder and principal of Counsel Public Affairs, which provides strategic counsel with respect to business, legal, public policy and political issues, and is a mediator with York Street Dispute Resolution Group, which provides mediation services to parties involved in civil litigation. Mr. Harnick was a director and/or president of Ontex Resources (which subsequently changed its name to Goldstone) from April, 2000, to June, 2006. He is a former board member and vice-chairman of St. John's Rehabilitation Hospital, and he is an ex-officio bencher of the Law Society of Upper Canada. He was an elected member of the Ontario Legislature from 1990 to 1999, and he served as Attorney General of Ontario and Minister Responsible for Native Affairs from 1995 to 1999. Mr. Harnick was responsible for the creation of the Ontario Mandatory Mediation Program and Legal Aid Ontario.

Further information is available on the company's website and on SEDAR, under the company's profile."

And now company is back to business:
 
 
 
Goldstone resumes Beardmore-Geraldton drilling

2010-09-24 19:33 ET - News Release

Mr. J. Patrick Sheridan reports

GOLDSTONE RESOURCES EXPLORATION UPDATE

Goldstone Resources Inc. has resumed its diamond drilling program in the Beardmore-Geraldton gold camp. Drilling will concentrate at Key Lake and at various prospects in the Beardmore area.

Key Lake

A total of 29 holes have been completed to date, totalling 6,800 metres. An additional 17 holes have been planned so far for phase 2, totalling 3,300 metres. Recent modelling of the Key Lake drill results, which includes recent and historical data, has aided in strategically placed drill holes to test gold mineralizing trends. Complete results are still outstanding for phase 1.

Northern Empire mine

A recent review of regional data in the vicinity of the Northern Empire claim group in Beardmore has emphasized a series of closely spaced quartz veins which has seen limited drilling. A stratigraphic drill section is planned to ascertain if mineralization across the veins plus host rock will yield a bulk-minable scenario. Four holes are planned in this region for 600 metres.

Creek vein

Recent prospecting in the region of the Creek vein has yielded a new gold-bearing showing which warrants drilling. Recent trenching and grab samples have revealed anomalous gold values. Three holes are planned for this target for a total of 450 metres. A review of the historic drilling in the Creek vein area shows considerable gold mineralization over core widths in excess of 40 feet. Five diamond drill holes totalling 1,000 metres will test the plunge of the mineralized zone.

Brookbank

A preliminary economic assessment of the Brookbank deposit has been completed by Micon International. Goldstone is currently reviewing the results, which will be forthcoming in a following news release. Discovered in the early 1980s, the Brookbank deposit was a major asset of Ontex Resources. Following the merger with Roxmark Mines late in 2009, to form Goldstone Resources, the Northern Empire mill provided a synergy between the deposit and possible production. At a cut-off grade of 3.4 grams per tonne (g/t) gold, drilling has established 1.36 million tonnes grading 9.7 g/t gold containing 424,400 ounces of indicated resource and 1.09 million tonnes grading 7.9 g/t gold containing 276,600 ounces of inferred resource at Brookbank (see National Instrument 43-101 technical report, "Technical Report on the Brookbank Gold Deposit, Beardmore, GeraldtonRPA Inc. dated May 4, 2009, as filed on SEDAR).

The exploration program is managed by Goldstone Resources under the supervision of Mike Kilbourne, PGeo, vice-president of exploration and the qualified person for Goldstone Resources. Mr. Kilbourne has reviewed and approved the technical information in this news release.

Further information is available on the company's website and on SEDAR under the company's profile.

We seek Safe Harbor.

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