Stocks to Watch: Gemini Explorations, Inc. (OTCBB: GXPI), Oglebay Norton Company (Pinksheets:OGBY) , TEL Offshore Trust (Nasdaq:TELOZ) , CanAm Uranium Corp. (OTC BB:CAUI) , Winn-Dixie (NasdaqGS:WINN)
Featured Stock: Gemini Explorations, Inc.
(OTCBB: GXPI)
Current Price (0.08)
Gemini Explorations, Inc. Updates Overview of La Planada Gold Project
Monday September 24, 9:45 am ET
Gold Trading at $735/oz. Presents Potential $2,310,000,000 World Class Gold Deposit
MIAMI, FL----Sep 24, 2007 -- Gemini Explorations, Inc ("Gemini") (OTC BB:GXPI.OB - News) is pleased to release an updated overview of its wholly owned La Planada Gold Project as prepared by Carlos Alberto Vera, Chief Geologist of Minera Primecap Geological Services. The detailed update below supports that over 3,150,000 troy ounces of gold or a gross deposit value of approximately $2,310,000,000 with gold presently trading at $735 per ounce are possible from the La Planada Project.
The La Planada property is located in the
La Planada property is composed of Dagua Group Upper Cretaceous quartzites and siliceous siltstones intruded by a granodiorite plug. Surface exposure is excellent and there were numerous workings at various elevations that can be roughly traced from one elevation to another. The width of the zone (i.e. within the property boundaries) appears much greater than other surrounding properties. There are at least 3 different crosscutting vein sets. The principal vein ranges between 0.4 m and 2.0 m in width. Other veins range between 3 and 20 cm (or more) in width. All carry some sulphides, and free gold was seen in both quartz and with the sulphides. Disseminated sulphides were seen in the host rock sediments, and these will probably contain low-grade gold values, although these have yet to be lab verified. Samples should be taken from two newly reported workings, and of mixed vein and host rock material and it is anticipated that there will be good values gotten from the vein and sulphide material. Panned concentrates from both vein material and tailings showed fine to medium gold.
Assuming the average grade across host rock and vein material on La Planada produces a grade similar to that of surrounding properties there is every reason to think that the deposit could be processed by bulk mining of the entire zone. The ore would be processed using the same method, and probably the same plant, as that proposed for surrounding properties.
The entire La Planada property has excellent rock exposure. The surface could be stripped and then, samples could be taken in vertical channels across both vein and host rock. A series of small drill pads would have to be prepared on the surface of the deposit. They would be collared at 50 m intervals along that line. As drilling progressed more of that face would have to be cleared of vegetation and levelled and a parallel series of pads would have to be built 50 m on either side of the original line of holes. This work will require some blasting of rock to produce those pads. Vertical reverse circulation holes would be drilled from these pads, with holes ranging up to 200 m in depth (if capable) at highest elevation and 100 m in depth at lowest elevation, for a total depth of this first phase of drilling of roughly 1000 m. Dependent on recovery of material, samples would be taken every 2 to 5 m down each hole. Samples would be analyzed for gold by Fire Assay, with A.A. or gravimetric finish. This work will allow an estimate of grade and tonnage for La Planada Project.
Most of the gold is fine. Upon completion of at least an initial round of drilling and assuming favourable results for grade of material, a bench test would be required to determine fineness of the gold, amount of sulphides and what metals are present, and from that what type of processing plant would give the best gold recovery. If there is sufficient coarse gold, a coarse gold circuit (e.g. a vibrating table) would probably be set up. If there is significant gold carried on the surface of sulphides then a sulphide floatation circuit would also be required. However, the bulk of the gold is fine and low grade (1.5 to 4 g/tonne) and is expected to be recovered with a large heap leach pad. Assuming the average grade of 1.5 to 4g/tonne and that sampling to date confirms continuity of mineralization to a depth of 200m, then the entire block could be mined and processed. A block 200 m deep X 300m wide X 400 m long, with an average density of 2.45g/cc would produce 59 millions tonnes of ore with a cut-off grade of 1.5g/tonne gold. That translates to over 3,150,000 troy ounces of gold or a gross deposit value of approximately $2,310,000,000 with gold presently trading at $735 per ounce.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that although Gemini Explorations, Inc believes the La Planada Gold Project has promising potential, the property is in the early stages of exploration. The project has yet to be shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on the property, or that, if identified, mineralization may be economically extracted. Minera Primecap Geological Services does not accept responsibility for the use of project data or in the adequacy or accuracy of this release.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2005 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Michael Hill President Gemini Explorations, Inc 8th Floor, 5201 Blue Lagoon Drive Miami , Florida 33126 http://www.geminiexploration.com email: info@geminiexploration.com IR info: 1 877 700 1644
Source: Gemini Explorations, Inc.
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Oglebay Norton Company
(Pinksheets:OGBY)
Current Price (31.20)
http://www.wallstreetstockreview.com/
CLEVELAND, Sept. 27 -- Oglebay Norton Company (Pink Sheets: OGBY.PK - News) today announced that it has received multiple all cash proposals valued significantly in excess of the $31.00 per share offered by Harbinger Capital Partners in its unsolicited tender offer. Oglebay Norton Company, a Cleveland, Ohio-based company with a 150-year tradition of service, provides essential minerals and aggregates to a broad range of markets, from building materials and environmental remediation to energy and industrial applications. For more information, see www.oglebaynorton.com.
TEL Offshore Trust
(Nasdaq:TELOZ)
Current Price (15.06)
http://www.wallstreetstockreview.com/
CanAm Uranium Corp.
(OTC BB:CAUI)
Current Price (0.34)
http://www.wallstreetstockreview.com/
LAS VEGAS, Sept. 27, 2007 -- CanAm Uranium Corp. (OTC BB:CAUI.OB - News) is pleased to announce the commencement of its airborne EM survey for the Wheeler Beckett and Don McCarthy claims in the eastern Athabasca Basin Tuesday, September 25th 2007. CanAm Uranium Corp. engages in the exploration of natural resource properties. The company holds an option to acquire up to 80% interest in 8 Bancroft Uranium Projects comprising 37 mineral claims covering an area of approximately 9,765 acres, located in the Bancroft area of southeastern
Winn-Dixie
(NasdaqGS:WINN)
Current Price (18.72)
http://www.wallstreetstockreview.com/
NEW ORLEANS, Sept. 27 -- (Nasdaq: WINN - News) Winn-Dixie President, CEO & Chairman of the Board Peter Lynch today rang the NASDAQ opening bell from their newly reopened store in New Orleans East. Joining Lynch for the historic event were New Orleans Mayor C. Ray Nagin and NASDAQ Executive Vice President Bruce Aust. Winn-Dixie Stores, Inc. is one of the nation's largest food retailers. Founded in 1925, the company is headquartered in
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