Austin, TX 11/6/2007 12:04:17 AM
Speak with other shareholders about: (OTC: SFMI), (OTC: PEZFF), (AMEX: ANV), (OTCBB: GYPH).
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Falcon Mining, Inc. (OTC: SFMI).
(November 2, 2007) - Silver Falcon Mining, Inc. (OTC: SFMI) today released details of an independent analysis conducted on War Eagle Mountain, a Gold property on which Silver Falcon Mining, Inc. has developmental and operating rights to (14) deep-shaft mines covering the Mountain's primary epithermal gold- and silver-producing veins. War Eagle Mountain has produced approximately 415,000 oz of gold equivalent to date, worth $ 270 Million.
The mines of War Eagle Mountain are adjacent to the open-pit gold/silver mines of DeLamar Mountain and Florida Mountain and owned by Kinross Gold Co., south of Boise, Idaho-Silver City Mining District. The DeLamar Mountain open-pit operation produced approximately 67 Million oz of silver and 1 Million oz of gold, worth $ 1.6 Billion.
An analysis of War Eagle Mountain, written by Barrett Cupp, a senior geologist, states: "The veins of War Eagle Mountain are of far higher value per ton than any other mining operation in the Silver City Mining District and some have speculated that they are more valuable per ton than the historically famous 'Comstock Mother-Lode.' The veins in the Mountain have not been fully exploited with respect to length or depth. My experiences in the district cause my opinion to be very favorable toward the War Eagle Mountain target and that any new exploration ventures should be focused on War Eagle Mountain if a large scale project is the desired goal in this mining district." Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "We are definitely excited with the attention that War Eagle Mountain has attracted from the mining community. The quality of the participants who have shown an interest in the War Eagle properties is outstanding, and we look forward to full-scale mining on these properties." Silver Falcon Mining, Inc. is an exploration and development company specializing in high-grade gold and silver mining properties in North America.
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Pediment Exploration Ltd. (OTC: PEZFF).
(November 2, 2007) - Pediment Exploration Ltd. (OTC: PEZFF) is pleased to report additional results from reverse circulation drilling at its 100%-owned San Antonio gold project, Baja California Sur, Mexico. Drilling has extended the main Los Planes zone by 100 metres to the south with thick intersections of good grade oxide gold mineralization and deeper intersections of gold in mixed/sulphide mineralization. A total of 10,500 metres of reverse circulation drilling has been completed to date. The drill program has been indefinitely extended in order to further expand and determine the boundaries of the Los Planes deposit. This release outlines all new results received to date, through drill-hole PLRC-27.
Southern Extension
Drillholes PLRC-16, 17, 24 and 25 tested Los Planes south of line N 9,600 where the first four holes of the current drill program were collared (See news release dated August 17, 2007). All of these holes cut thick sections of shallow gold intersections in oxidized material, and deeper primary gold mineralization. PLRC-25 collared 50 metres south of PLRC-03 intersected 88.2 metres of 2.44 grams per tonne (g/t) gold that included 19.8 metres grading 5.1 g/t gold, while PLRC-24 located 50 metres west of PLRC-25 cut 125 metres of mineralized shear that included 82 metres of 0.99 g/t gold. PLRC-16 and 17 were respectively collared 100 metres south of holes PLRC-01 and PLRC-04, and are the most southerly holes reported to date. PLRC-16 encountered 82 metres of mineralized shear that included 51.8 metres of 1.7 g/t, while PLRC-17 cut 108 metres of mineralized shear that contained 30.5 metres of 1.3 g/t gold and 88.4 metres of 0.98 g/t gold in separate sections.
Drillholes PLRC-19 and PLRC-21 to 23 were drilled as part of in-fill testing at 50 metre spacing in the central part of the deposit. PLRC 19, 21, 22 and previously reported 20 have been plotted on a north-south trending long-section E98,660. PLRC-23 is located 50 metres to the east of PLRC-22. Note that PLRC-19 was terminated at 60 metres depth and was intended only to test the shallow oxide section above previous angle holes PLRC-05 and LCDD-19 (a core hole).
Four holes in the current release were part of the ongoing expansion testing to the east of the discovery area, where a series of post-mineral faults have down dropped the mineralised system and effectively extended the Los Planes system to the east within a series fault bounded, near surface sub-zones of oxidized mineralization. The limits of this eastern extension have not yet been determined. Holes PLRC-15 and 26 were collared 100 and 200 metres east of PLRC-16, respectively. PLRC-15 contained 35 metres of moderate grade oxide gold mineralization in two sections while PLRC-26 contained narrower but higher grade gold in oxidized intersections. Similarly, drillhole PLRC-14 was collared 200 metres east of previously reported PLRC-01, and contained 50 metres of moderate grade oxide gold mineralization in two sections. Drillhole PLRC-27 is the most easterly hole at Los Planes to date, and encountered 10.6 metres of 2.0 g/t gold in oxides starting at a depth of 62 metres.
Mel Herdrick, M.Sc, Director and VP Exploration of Pediment notes that "drilling continues to expand Los Planes, with the thick high-grade "central" section still remaining open along strike. Our working hypothesis is that Los Planes and the historic Colinas resource are part of a large, ramp duplex thrust-fault system. Thickening of the system is much greater here than seen elsewhere in the San Antonio District. The distance between Colinas and Planes bodies is now about 500 metres. Determining the connection between the two will be part of on-going testing. Los Planes is still open to expansion in most areas. Related but separate targets in the area have also been located and remain to be tested."
Sampling
Each 1.5 metre-long section of material from the reverse circulation drill is collected and split on site, with one-half retained at the project and the balance shipped to the ALS Chemex preparatory facility in Hermosillo, Sonora Mexico. The ALS Chemex lab weighs received material, and a part is ground to a pulp fraction and shipped to the Vancouver, B.C. laboratory facility. Analyses are performed for gold by fire assay with AA finish, with over limit (+10 g/t gold) re-assayed by fire assay with a gravimetric finish.
Vice President, Exploration, Mel Herdrick, M.Sc. is a qualified person as defined by NI 43-101 and has approved the information contained in this release. The project supervisor is geologist Pedro Teran, B.Sc.
Pediment Exploration is a well financed, aggressive exploration company with a focus on exploration of precious metals deposits in western Mexico, and is actively exploring a series of projects in Baja California Sur and Sonora.
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Allied Nevada Gold Corp. (AMEX: ANV).
(November 2, 2007) - Allied Nevada Gold Corp. (AMEX: ANV) is pleased to announce complete gold and silver assay results for two exploration drill holes drilled at the Company's Hycroft Heap Leach Mine ("Hycroft") located near Winnemucca, Nevada. Partial gold assay results for these holes as shown below were previously announced in the Company's press release of October 1, 2007. These holes are part of the previously announced 70 hole, 90,000 foot exploration drill program that was started at Hycroft in August 2007. Two reverse circulation rotary drill rigs and one core drill rig are currently drilling at site. This program is expected to confirm the oxide gold resource in the Brimstone area and to drill test the higher grade sulfide gold system below the oxides in the Brimstone and Crofoot Lewis open pit mines.
These assay results, in conjunction with those from previous deeper drilling, indicate significant sulfide gold and silver mineralization over extensive lengths.
As of October 31, 2007 a total of 10 reverse circulation drill holes and 5 core holes have been drilled in the Company's 2007 Hycroft drill program, to an average depth of 1,000 feet. The Company is awaiting further assay results from the samples obtained from this drilling. In the future, the Company intends to release both gold and silver assay results for substantially complete drill holes.
For complete drill hole assay information for these holes, please see assay data included in this press release. Gold equivalent grades were calculated utilizing a $650 per ounce gold price and a $12 per ounce silver price.
"We are encouraged by the extensive sulfide mineralization indicated by the drilling completed to date. We are optimistic that additional drilling and assay results will achieve our goal of determining the extent of the underlying sulfide system that is known to exist below the Brimstone and Crofoot Lewis open pit mines. I am particularly interested in silver grades identified in these drill results." says Rick Russell, Allied Nevada's Vice President of Exploration.
(1) The drill program is being conducted under the supervision of Mr. Rick Russell, Vice President of Exploration for Allied Nevada Gold Corp., who is a Qualified Person as defined by Canadian National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by the Company at its Hycroft Mine. A combination of vertical and angle holes have been drilled to intersect mineralization; however, due to physical constraints and the complex nature of the deposit, true thickness of the drilled intervals cannot be assumed from the measured intercepts. Sampling and assaying methods of this program are being conducted in accordance with the CIM Mineral Exploration Best Practices Guidelines.
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Gryphon Gold (OTCBB: GYPH).
(November 2, 2007) - Gryphon Gold (OTCBB:GYPH) is very encouraged by a recently completed Controlled Source Audio-Frequency Magnetotelluric (CSAMT) survey that shows significant potential for locating additional gold deposits on the Borealis property.
During the past 18 months Gryphon Gold has utilized airborne magnetic/electromagnetic and induced polarization/resistivity surveys to identify drill targets beneath the pediment gravels. This has been very successful as follow up drilling has delineated two very large (over 8 square km) and very thick (up to 1,450 feet) horizons of the same favorable anomalous gold-bearing mineralization that hosts the known Graben gold deposit (0.88 million measured, indicated and inferred ounces(1)). The challenge has been to locate the structurally highly disrupted zones within these large favorable horizons which are known to contain the higher grade gold mineralization in the Graben gold resource.
To that end Gryphon Gold has, during the past six weeks, completed a CSAMT geophysical survey over the known Graben gold deposit. In summary the results indicate that:
- Within the Graben deposit there is a high correlation between the CSAMT resistivity anomalies and the zones of intense hydrothermal alteration (as identified by the previous drill intercepts in the Graben deposit), and
- These intense hydro-thermal alteration zones have shown a high correlation to the higher grade gold drill intercepts (as illustrated in the graphic below - see www.gryphongold.com for more a complete presentation)
- The survey also indicates previously undetected anomalies within and adjacent to the Graben gold deposit where no drilling has taken place to date.
Based on these favorable CSAMT results it appears that the areas of the most intense hydrothermal alteration, known from drilling to be associated with higher grade gold mineralization, are detectable as CSAMT anomalies.
A broader CSAMT survey covering a much larger portion of the Borealis property, including the western and central pediments has been commissioned. This additional methodology should result in the identification of new areas of potentially higher grade gold mineralization within the previously identified favorable horizons, both oxide and sulphide, and more effective selection of drill targets for our 2008 exploration program.
In addition, to the CSAMT work Gryphon has initiated additional metallurgical tests on samples recently extracted from the Graben gold deposit. The metallurgical testing will be used for the completion of a new CIM NI 43-101 resource report. Completion of the resource report has been deferred to the first quarter of 2008 in order to include the additional work of:
- logging of all historic drill holes
- adding the new metallurgical testing
- including the latest Graben drill results from the current drilling campaign
- remodeling of the resource calculations needed to incorporate all this additional data, and the
- availability technical personnel to complete the work
Assay results for holes drilled since last reporting (Aug 23, 2007 - Gryphon reports 174 meter (570 ft.) gold mineralized zone) are expected to be ready for release next week.
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