subject: Stock Update On Mdw, Tre, Orfg From Pennytobuck.com [print this page] OROFINO GOLD CORP (ORFG.PK) is a new high growth gold company whose mandate is to acquire, explore and develop to compliant proven reserves major gold targets in historically rich gold bearing jurisdictions of Mexico and Colombia two of the most significant gold producing countries in the world. To this end ORFG has signed an option agreement to acquire several properties in Colombia.
Mr. John T. Martin was born and raised in Canada. He had the benefit of being educated in his formative years in both Ontario and Quebec. He graduated from the University of Toronto with a degree of Arts in 1972, and subsequently graduated with a LLB (Bachelor of Laws) from the University of Ottawa in 1975.
His first employment was with the Bureau of Intellectual Property in the Federal Government of Canada in the mid 70s. From there Mr. Martin moved to British Columbia, where he enjoyed a busy practice as a lawyer in various firms including his own, until 2003. Mr. Martins preferred areas of Law were Securities, Immigration, Real Estate and Debt Realization.
During his legal practice, Mr. Martin had the chance of meeting many clients from across the Pacific whether they were Chinese or Asians and hence acquired a good network in both China and Asia. Mr. Martin was a regular visitor to South East Asian countries, Hong Kong, Korea, Taiwan and China, since 1985.
For more information on ORFG visit their website at http://www.orofinogold.com/
Tanzanian Royalty Exploration Corporation (AMEX:TRE) announces that Mr. James E. Sinclair has agreed to provide $800,000 by way of private placement with the proceeds being applied to general working capital. Mr. Sinclair has agreed to purchase 144,430 common shares at price of $5.539 per share. The price reflects the 5-day weighted average trading price on the Toronto Stock Exchange for the period August 17-23, 2010.
The private placement common shares are subject to certain mandated hold periods and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with this placement.
For further information, please contact Investor Relations at 1-800-811-3855 Visit their website: www.TanzanianRoyaltyExploration.com
Midway Gold Corporation (AMEX:MDW)is pleased to announce continued success from work reported by Barrick Gold Exploration Inc. (NYSE:ABX) at MDWs Spring Valley Project, Nevada. Drilling for the 2010 season commenced in March and is expected to continue through the fall season.
Drilling in the second quarter of 2010 tested extensions and in some cases large step-outs north of the known resource area. Significant intercepts from second quarter drilling include assays of 103 feet of 0.097 opt gold (including 3.1 feet of 0.521 opt gold and 5.2 feet of 0.732 opt gold), 42.7 feet of 0.117 opt gold (including 5 feet of 0.653 opt gold), and 47.1 feet of 0.026 opt gold in drill hole SV10-478C. Third quarter drilling will be focused on expansion of the resource in other areas. Results of that drilling are anticipated in November.
Spring Valley is a large porphyry hosted gold system with an inferred resource of 1,835,615 ounces of gold in 87.75 million tons grading 0.021 ounce per ton (opt) gold. (See the MDW press release dated March 2, 2009 and the subsequent NI 43-101 technical report filed on SEDAR March 30, 2009 for more information about this resource.) MDW and ABX entered into an agreement on March 9, 2009 for the exploration and development of the Spring Valley property in Pershing County, Nevada, covering approximately 18.4 square miles. Under the terms of the agreement, Barrick may earn a 60% interest in the property by spending US$30,000,000 in work expenditures by December 31, 2013.
Scoping level metallurgical work conducted by ABX on this large project has demonstrated positive metallurgical results. Column leach tests were completed on thirteen oxide, transitional and sulfide composites. Column leach recoveries on the half-inch crush material averaged 75% and ranged from 60% to 90% gold recovery over an average 260-day leach period. Gravity recoverable gold tests, on the same sample set, had recoveries ranging from 91% to 50.6% of the calculated head grade. Details of preliminary metallurgical results were noted in press releases of August 24 and November 30, 2009. A final report summarizing those results is pending.
ABX must spend US$5,000,000 in the year ending December 31, 2010 to maintain their earn-in right. In the second quarter, Barrick drilled 9,866 feet in 8 core holes. They drilled 16,533 feet in 16 reverse circulation (RC) holes, 7 of which were used for core holes at depth. Fire assay results have been received for 19 holes, including some drilled in the first quarter. Metallic screen assays (MS) have been received for only 5 holes. Significant new drill intercepts provided to Midway by Barrick are summarized in Table 1 below.
For more information on MDW visit their website at http://www.midwaygold.com
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