--- Nayarit Gold Inc. (TSX-V: NYG | news | PowerRating | PR Charts ) closed yesterday at $0.58 per share on trading volume of 200,315 shares. Yesterday's close represented an increase of $0.06 per share or 11.54%.
In a press release May 14, 2008, Nayarit Gold announced additional assay results from its Phase II drill program on the Animas discovery zone at the Orion Silver-Gold District. Highlights from the drill program intersected 48.35 metres of 2.74 g/t gold and 218 g/t silver or 7.10 g/t gold equivalents, including 23.78 g/t gold and 2,040 g/t silver or 64.58 g/t gold equivalents over 3 metres. Yesterday's announcement follows the previous day's strong news regarding a consolidation in the Orion Silver-Gold Mining District as a result of its acquisition of seven additional mining concessions totaling 2,730 hectares in the state of Nayarit, Mexico.
According to Colin Sutherland, Nayarit's President and CEO, "The drill results illustrate the continuity and the high-grade nature of the mineralization in the Orion District. The results also demonstrate that the system is still open to depth and along strike. The Company recently completed several holes in excess of 500 and 600 metres, and the system at the Animas discovery zone appears to be wider than initially believed and mineralized at considerable depths based on initial review of the core. With the recent acquisition of the additional mining concessions, we will continue to aggressively move forward with our Phase II exploration program and unlock the potential of our 1,100 square kilometres and 19 silver-gold zones."
A comprehensive profile for Nayarit Gold is available at www.babybulls.com.
Nayarit Gold Inc. is a Halifax based junior resource company dedicated to gold exploration in the proven precious metal districts of Mexico. Management's goal is to build a profitable resource company and maximize shareholder value through successful exploration programs and continued development.
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--- Gold Resource Corporation (OTC BB: GORO | news | PowerRating | PR Charts ) closed yesterday at $5.38 per share on trading volume of 159,858 shares. Yesterday's close represented an increase of $0.28 per share or 5.49%.
In a press release May 14, 2008, Gold Resource reported its highest gold intercept to date at its La Arista deposit with 1.3 meters of 142.5 g/t gold, 800 g/t silver, 0.45% copper, 0.21% lead, 0.55% zinc, (or a gold equivalent* value of 162.08 g/t (5.21 oz/tonne)). La Arista is part of Gold Resource's El Aguila Project in the southern state of Oaxaca, Mexico, which is targeting gold production in 2008, subject to timely obtaining the remaining required permits, regulatory approvals and equipment delivery schedules.
According to William W. Reid, Gold Resource Corporation's President, "Since the discovery of the La Arista deposit, our drilling has focused specifically on delineating this area. Detailed exploration shows we are dealing with two primary, high-grade veins, one that we will now refer to as the La Arista vein (previously referred to as the La Arista vein #1) and the Baja vein (previously referred to as La Arista vein #2). This focused exploration has rewarded us with our recent highest grade gold intercept of 1.3 meters of 142.5 g/t gold within 4.6 meters of 42.1 g/t gold and previously, for intercepts of at least 1 meter, with our highest grade silver intercept, 1 meter of 5,000 g/t silver within 4 meters of 2955 g/t silver (press release dated Dec. 10, 2007), both intercepts of which are in the Baja vein."
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico's southern state of Oaxaca.
--- Midway Gold Corporation (AMEX: MDW | news | PowerRating | PR Charts ) closed yesterday at $2.02 per share on trading volume of 152,340 shares. Yesterday's close represented an increase of $0.02 per share or 1.00%.
In a press release May 14, 2008, Midway Gold announced drill intersections of high grade gold at its Midway project in Nevada. Assay results from the discovery zone included 6.2 feet of 3.6 ounces per ton (opt) gold in the Nimitz vein and 1.1 feet of 2.5 opt gold within 10 feet of 0.4 opt gold in the Midway vein.
According to Alan Branham, Midway Gold's President and Chief Executive Officer, "The location, grade, and thicknesses of these intercepts matched our model of the Discovery zone veins very closely. We drilled these holes to get geotechnical data for our stope designs, but we were also able to verify the locations of the veins and expand the area of high grade intercepts within the veins. These veins will be explored more completely from underground when our planned decline reaches the Discovery zone."
Midway Gold Corp. is a precious metals exploration company, listed on the American Stock Exchange and on the TSX Venture Exchange under the symbol "MDW". Midway's focus is creating value for shareholders through the discovery and development of quality new precious metal resources in politically stable mining areas. The Company has three advance stage gold exploration projects and four early stage exploration project that control over 60 square miles of mineral rights along four major gold trends in Nevada. Additional information on Midway Gold Corp and these projects can be found at: www.midwaygold.com.
--- Keegan Resources Inc. (AMEX: KGN | news | PowerRating | PR Charts ) closed yesterday at $3.83 per share on trading volume of 104,584 shares. Yesterday's close represented an increase of $0.03 per share or 0.79%.
In a press release May 14, 2008, Keegan Resources announced that it had intersected 14 m of 4.47 g/t Au along the NW structure at its Asumura Property in SW Ghana. The intercept comes from one of the fences of shallow reconnaissance drill holes that Keegan has drilled as an initial test of this structure. The mineralization encountered was entirely in saprolite and will be followed up with in a subsequent drill program the scale of which will be determined once all the assays are back. Drill assays from Asumura are still pending and Keegan will release assays when received. Please see www.keeganresources.com for a map showing collar locations.
According to Dan McCoy, President and Chief Executive Officer of Keegan Resources, "This is an exciting discovery in an entirely new location within significant identified structures. The total strike length of this structure on the combined Asumura and the recent Mt Olive's acquisition is at least 13 km. After we have had time to interpret the gold results together with the geophysics and geology, we will follow up with future drill programs at Asumura along with a continuation of augur sampling and drilling on the Mt Olives concession."
Keegan Resources is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality, pure gold assets. The Company is focused on its wholly owned flagship Esaase and Asumura gold projects located in Ghana, West Africa. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX-VEN and on the AMEX under the symbol KGN. More information about Keegan is available www.keeganresources.com.
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