Newstrike Blog » Newstrike Capital

Higo Blanco returns more positive results

Michaela Davies — Wed, 21 Jul 2010 02:17:52 +0000

Aura Silver Resources Inc. has announced further encouraging results from its ongoing silver and gold exploration at its Higo Blanco project

Located in the Taviche district, Oaxaca, Mexico, the Higo Blanco project is adjacent Newstrike Capital’s Ejutla Fracc. II claim

Additional results from holes HBET-26 and HBET-27 indicate that the gold zone first discovered in the Mezcal Vein structure in HBET-01 (0.68 grams per tonne (g/t) gold equivalent from surface to 38.75 meters; located 150 meters northwest) continues deeper, with grades increasing at depth.

Hole HBET-26 returned grades of 0.64 g/t gold equivalent over 22 meters at a depth of 118.6 meters while HBET-27 which was drilled underneath HBET-26 returned 0.93 g/t gold equivalent over 23.15 meters at a depth of 246.6meters.

Source: Aura Silver

Farallon to assess gold mine at Campo Morado

ckeddy — Wed, 30 Jun 2010 00:04:48 +0000

Based upon the rapid rise in gold prices, Farallon Mining said it is planning a second mine at its Campo Morado property in Guerrero Sate in Mexico

The Company is formally initiating studies to re-evaluate the Reforma, Naranjo, El Largo and El Rey deposits to assess the feasibility of building a second mine with a target start date of July 1, 2013.

Indicated resources for the Reforma, El Rey, Naranjo and El Largo deposits total 11.2 million tonnes of 4.7% zinc, 0.7% copper, 1.4% lead, 165 grams per tonne of silver and 2.7 grams per tonne of gold.. Contained gold totals 960,000 ounces and contained silver totals 60 million ounces.

The Company already operates a zinc mine, G-9 zinc mine at Campo Morado. The second mine would piggy back on infrastructure already in place at the current G-9 mine operation.

Located in the northern Guerrero Gold Belt to the west of and adjacent to Newstrike Capital Inc.’s Aurea Norte Project in Guerrero State, Mexico, the G-9 mine is a 1,500 tonnes per day, underground, zinc mine with important by-product credits of copper, gold, silver, and lead.

Source: Farallon Resources

Getting to Know Newstrike Capital’s Exploration Projects

Trevor J. Murphy — Mon, 28 Jun 2010 20:08:34 +0000

With the acquisition of the Ana Paula Properties, Newstrike Capital now controls a 100 per cent interest in over 160,000 strategic hectares in the Guerrero Gold Belt (GGB).

The company manages their land position under two contiguous projects – Aurea Sur and Aurea Norte – which are divided geographically by the east-westerly trending Balsas River.

The Aurea Sur Project is located in the southwest of the GGB in an area rich in gold history. Geological fieldwork in the four Newstrike owned properties – Durazno, Ottawa, Vinatas & Consorcio – began in 2004 and is situated on a geological setting similar to the areas directly to the east of the Sur properties that have yielded major gold deposits. The gold inventory in southern deposits now exceeds 12 million ounces, with Newstrike Capital’s management team being instrumental in the discovery of eight million of those ounces.

The Aurea Norte Project covers the northwest extension of the GGB and contains project developments in areas like El Coyote, Cosmos, Don Jesus. The Ana Paula Properties have already yielded significant positive research by previous its previous owners, Goldcorp Inc. who – prior to Newstrike Capital’s acquisition – were conducting drill testing in the area. Though the Aurea Norte Project is largely untested compared to the Aurea Sur Project, exploration has confirmed a similar geological setting to those of the Bermejal, Nukay, and Filos deposits – the pioneer discoveries of the GGB.

For a better understanding of these geological similarities, read Understanding The Geological Setting of the Ana Paula Properties.

Newstrike Capital Announces Closing of the Ana Paula Acquisition

Michaela Davies — Fri, 25 Jun 2010 16:34:15 +0000

Vancouver, B.C., June 25, 2010 – Newstrike Capital Inc. (TSX-V: NES) (“Newstrike” or “the Company”) – www.newstrikecapital.com – is pleased to advise that it has completed its acquisition of a 100% interest in the Ana Paula mining concessions from Goldcorp Inc. (“Goldcorp”) (TSX:G, NYSE:GG). Final documentation was signed and submitted for registration in Mexico City on June 24, 2010. As consideration for the Ana Paula Properties, Newstrike paid to Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly-owned subsidiary of Goldcorp, the amount of CAD$1.5 million in cash and 1,412,762 common shares of Newstrike having an aggregate value of CAD$600,000 calculated at a deemed price of $0.4247, being the volume weighted average trading price of common shares of Newstrike on the TSX Venture Exchange for the 20 consecutive trading days ending on the trading date prior to the issue date.

The Ana Paula properties comprise a total of 7,622 hectares in four discreet claims located internal to Newstrike’s existing land position and complementing the Company’s 81,000 hectares of highly prospective mineral claims in the immediate area. The Ana Paula properties include the advanced exploration stage Ana Paula Project where Goldcorp has previously identified anomalous gold at surface over a 1.0 by 2.0 kilometre area and in a similar geological setting to other deposits of the Guerrero Gold Belt.

A portion of this mineralized area was drill tested in 2005 with a 3,689 meter, 11-hole diamond drill program that confirmed the gold mineralization potential of the area. Newstrike has commissioned a technical audit and report of Goldcorp’s exploration results from Mr. Bob Lunceford, MSc, CPG, and independent qualified person under NI43-101. The Company’s report will be filed with the TSX Venture Exchange shortly.

About Newstrike (TSX-V: NES)

Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic mining districts in Mexico. Current management and directors co-discovered Goldcorp’s and Teck’s significant discoveries in the Guerrero Gold Belt in Guerrero State, currently in advanced stages of exploration and production.

Newstrike holds a 100% interest in certain exploration properties in Mexico located within two established mining districts; the gold bearing oxidized iron skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Ag-Au-Cu rich epithermal camp of the mining districts of Oaxaca State, and is increasing its position as strategic opportunities present themselves.

Newstrike Capital Announces Private Placement and Provides Update on Ana Paula Acquisition

Michaela Davies — Wed, 23 Jun 2010 16:18:21 +0000

Vancouver, B.C., June 22, 2010 – Newstrike Capital Inc. (TSX-V: NES) (“Newstrike” or “the Company”) – http://www.newstrikecapital.com/ – is pleased to announce a non-brokered private placement of up to 12,500,000 units at a price of $0.40 per unit for cash proceeds of up to $5,000,000. Each unit is comprised of 1 common share and 0.5 of a share purchase warrant. Each whole warrant will entitle the holder to acquire a common share of the Company at $0.80 per common share for a period of 18 months from the date of issue. A 7% finders’ fee may be payable on all or a portion of the offering.

The proceeds will be used to fund near-term exploration activities on the Company’s Aurea Norte project in the State of Guerrero and for general working capital purposes. This private placement is subject to regulatory approval, and the common shares, together with the shares issued on the exercise of the warrants, will be restricted from trading for a period of four months from the date of issuance of the units, in compliance with TSX Venture Exchange policies and securities legislation.

Ana Paula Acquisition

The Company is pleased to advise that its acquisition of a 100% interest in the Ana Paula mining concessions from Goldcorp Inc. (TSX:G, NYSE:GG) is nearing completion. The acquisition, initially announced March 3, 2010, received regulatory approval on April 28, 2010 and a definitive agreement was entered into on May 11, 2010. Final documentation could be signed and registered as early as June 23, 2010. The 4 concessions that make up the Ana Paula properties, which comprise 7,662 hectares, are all internal to Newstrike’s existing land position and complement the Company’s 81,000 hectares of highly prospective mineral claims in the immediate area.

About Newstrike (TSX-V: NES)

Aura Silver Extends Silver Zone at Higo Blanco

Trevor J. Murphy — Thu, 17 Jun 2010 22:25:06 +0000

Aura Silver Resources Inc. has announced results from its ongoing silver and gold exploration at its Higo Blanco project located in the Taviche district, Oaxaca, Mexico. The Higo Blanco project is adjacent Newstrike Capital’s Ejutla Fracc. II claim

New results include hole HBET-23 with 238.7 grams per tonne (g/t) silver equivalent over 19.3 meters which extends the overall length established for the Higo Blanco silver trend by about 50 meters. A newly discovered gold zone in Hole HBET-24 includes 2.05 g/t gold (Au) over 8.35 meters (including 4.9 g/t over 2.25 meters). Drilling to date comprises 27 holes in total (assays are pending for holes HBET-25, -26 and -27)

Source: Aura Silver

Goldcorp’s divestitures build emerging Juniors

ckeddy — Wed, 09 Jun 2010 05:38:38 +0000

Goldcorp Inc. recently announced that it had entered agreement to sell the San Dimas gold-silver mine in Mexico to Mala Noche Resources Corp.

The total purchase consideration of $500 million, consisted of $275 million in cash, $175 million of Mala Noche common shares valued at the offering price of Mala Noche’s proposed equity financing and a $50 million promissory note payable over five years which will bear interest at a rate of 6% per annum. Goldcorp’s ownership interest in Mala Noche is expected to be approximately 30%.

This transaction follows on the heels of Goldcorp’s sale of the Escobal silver deposit in Guatemala to Tahoe Resources Inc., and the sale of its minority interest in Morelos Project to Torex Gold Resources (formerly Gleichen Resources Ltd.).

These transactions are consistent with Goldcorp’s ongoing strategy of creating value for shareholders by divesting smaller or noncore assets to focus on cornerstone operations that will continue to drive Goldcorp’s industry leading production growth and future cash flow

Recently Goldcorp and Newstrike Capital Inc. entered into a definitive agreement for Newstrike to acquire 100% of the “Ana Paula Project” from, a wholly-owned subsidiary of Goldcorp.

Ana Paula is an advanced exploration stage gold project, located in the north-central part of the State of Guerrero in southern Mexico. The Ana Paula Project consists of two contiguous and two discrete concessions covering 7,622 hectares that collectively comprise internal claims to Newstrike’s existing land position. Newstrike’s entire land position in the Guerrero Gold Belt (“GGB”) now covers just over 88,952 contiguous hectares.

As with the Mala Noche/San Dimas transaction, consideration for the Ana Paula transaction includes Goldcorp receiving shares of Newstrike.

In December 2009, Newstrike and Goldcorp announced they has entered into an agreement for Newstrike to acquire Goldcorp’s 21.2% position in the Morelos Project subject to a right of first refusal held by Gleichen Resources Ltd.; which Gleichen subsequently exercised.

Farallon announces new high grade gold zones at Campo Morado

ckeddy — Wed, 28 Apr 2010 20:35:34 +0000

Farallon Mining Ltd. recently announced new high grade gold zones outside the current mineral resource at the G-9 Mine at the Company’s Campo Morado property in Guerrero State, Mexico.

High grade precious metal intercepts at G-9 have been reported in various news releases over the years, most recently in the Company’s December 16, 2009 news release in which an intersection of 13 metres of 20 grams of gold was announced. Since that time, the Company has been actively investigating the geological continuity and stratigraphic location of these intercepts, particularly since underground drilling became a component of the ongoing exploration program at G-9. Farallon commented that it is now apparent that there is a definite geological and stratigraphical correlation to the high grade gold and silver intercepts.

Dick Whittington President and CEO of Farallon, said: “This is an exciting new development for the Company as it shows that the G-9 mine and the Campo Morado District have the potential for high grade precious metal resources as well as the current high grade zinc resources upon which the G-9 mine was built. These resources are incremental to our recently announced mineral resources, and though small in tonnes, are high in precious metals content. Our challenge now is to find more of these high value resources and to define a metallurgical program to maximize their recovery.”

Located to the west of and adjacent to Newstrike Capital Inc.’s Aurea Norte Project in Guerrero State, Mexico, the G-9 mine is a 1,500 tonnes per day, underground, zinc mine with important by-product credits of copper, gold, silver, and lead.

Source: Farallon Mining Ltd.

Activity increases in Guerrero Gold Belt

ckeddy — Tue, 27 Apr 2010 23:53:02 +0000

Gleichen Resources Ltd. has announced that drilling is underway at its 100% owned Morelos Gold Project in Mexico, with its first exploration hole nearing completion. Gleichen intends to ramp up its program through the addition of one rig every two months to reach a total of up to four drill rigs actively working on the property this year. Initial results are expected to become available by mid-summer.

Newstrike Capital recently announced it has entered into an agreement to acquire a 100% interest in certain mining concessions situated in Guerrero State, Mexico, referred to as the “Ana Paula Properties” from Desarrollos Mineros San Luis, S.A. de C.V. (“DMSL”), a wholly-owned subsidiary company of Goldcorp Inc.

Located within the Guerrero Gold Belt, the Ana Paula Properties consist of four claims that in total aggregate 7,622 hectares (ha). The most advanced of these claims has been subject to 3,689 metres of drilling by Goldcorp.

The Guerrero Gold Belt Gold Belt is a significant emerging gold mining district hosting Goldcorp’s Bermejal, Nukay and Los Filos deposits and Gleichen Resources Morelos Gold project.

The pending acquisition of the Ana Paula Properties will extend Newstrike’s strategic footprint within the Guerrero Gold Belt beyond the current 81,000 hectares of highly prospective mineral claims in the immediate area.

Understanding The Geological Setting of the Ana Paula Properties

Trevor J. Murphy — Sat, 24 Apr 2010 00:21:25 +0000

With their latest acquisition of the Ana Paula Properties from Goldcorp Inc., Newstrike Capital has purchased 100 per cent interest in a region considered to be extremely strategic in one of Mexico’s most historic mining districts.

Located within the Guerrero Gold Belt (GGB), the Ana Paula Properties consist of four claims that in total aggregate 7,622 hectares and show early signs of yielding significant gold deposits. Many of the major gold discoveries in the area – over 12 million ounces – have been made in the southern part of the GGB in places such as Bermejal, Nukay and Filos.

The Ana Paula Properties are in the northern part of the Guerrero Gold Belt but this area is situated in the same geological and mineralizing environment as the south. Newstrike’s exploration of the Ana Paula Properties (coupled with previous research by Goldcorp) has shown geological settings highly comparable to those on the southern properties.

Among other things, geological research has found:
- The presence of the sediments formed in the Cretaceous period (145-65 million years ago)
- The presence of intrusions – liquid rock that forms under the Earth’s surface and crystallizes into minerals – that are rich in magnesium, iron, and quartz.
- Evidence that granodiorite – a quartz-rich igneous rock formed by cooled magma – has been injected into active fault zones along the Morelos-Mezcala contact, developing rock formations that lead to gold mineralization.
- Evidence of rock formations that have gone through the necessary set of temperature and pressure transformations over time leading to rich mineralization of the rocks.
- Evidence of altered mineralization within the intrusive rocks.