sympathy4dadevil
10年前
SUVRF DD
Lifton with Engdahl of Star Minerals on mine to market manganese batteries
Investor Intel
Investor Intel
313
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Published on Feb 5, 2015
February 5, 2015 — Jack Lifton, the host of InvestorIntel’s One-on-One speaks to Jim Engdahl, Director, President and CEO, of Star Minerals Group Ltd. (CSE: SUV) about the metamorphosis into a mine to market manganese company. Jack and Jim have a long history, and in this One-on-One, they discuss issues relating to manganese as a critical material and how battery companies such as Panasonic lean towards manganese batteries.
Jack Lifton: I'm speaking today with Jim Engdahl who is the CEO of Star Minerals. He's in his office in Saskatoon where he's going to tell us what Star Minerals is about and what it wants to accomplish and when that might be. Over to you Jim.
Jim Engdahl: Thanks Jack. Well, Star Minerals is a junior company that's been around a long time and it's metamorphosed into different businesses, but when I became the management of the company, the CEO, and Gary Billingsley came on my board it was done with the specific intention of using the public vehicle that Star, as it was called at the time, Star Uranium, to create a public company in which we could in turn develop strategic metals. The start of that--- the first was to joint venture to Great West Minerals' project, Hoidas Lake, into that.
Jack Lifton: Yes.
Jim Engdahl: That's our original plan.
Jack Lifton: Okay. What has happened? As we know from battle plans, the minute the battle starts the plan changes. What's happened since then?
Jim Engdahl: Well, market conditions always dictate a lot of those changes, as you know Jack. I think what happened with us is we initially as it turns out commenced a preliminary economic assessment report with Barr Engineering out of Minneapolis, who are very familiar with the Hoidas Lake project. That is in the process right now. Also, as we started moving forward the general markets were terrible in terms of raising capital to really do a whole lot of things and so we were looking towards other ways of thinking out of the box to create some things. Also, we did develop a strategic plan to work towards developing other strategic metals, particularly as it related to the battery world.
The first opportunity that came to us was an opportunity via our engineering group out of Minneapolis and a manganese project in Minnesota and a very exceptional deposit of manganese that the company that owned it before was not their history to be in the mining industry. They spent a lot of money trying to develop it, specifically for some technology purpose. As things developed one of the things that did happen was that they got approached by a company that had developed a new battery technology. That company was OTI out of Vancouver. That particular battery was manganese based. As such, our mine to market model that we've used in the past came into play. That's where Gary and myself decided that this would make a lot of sense to now work towards building a strategic company with strategic metals focused in the battery world and with Hoidas Lake also being clearly one of our prime projects as well for the rare earth sector.
Jack Lifton: I've always--- As you know, I've always been a supporter of the mine to market concept. In fact, Gary was the first person I knew who ever enunciated that theme, mine to market, and it stuck in my mind for these many years. I think that basically mine to market is a strategy looking for a solution. I'm glad to see that this has expanded beyond the rare earth space. To hear the rest of the interview, click here
Disclaimer: Star Minerals is an advertorial member of InvestorIntel.
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sympathy4dadevil
10年前
SUVRF DD
Lifton with Engdahl of Star Minerals on mine to market manganese batteries
Investor Intel
Investor Intel
313
272 views
Published on Feb 5, 2015
February 5, 2015 — Jack Lifton, the host of InvestorIntel’s One-on-One speaks to Jim Engdahl, Director, President and CEO, of Star Minerals Group Ltd. (CSE: SUV) about the metamorphosis into a mine to market manganese company. Jack and Jim have a long history, and in this One-on-One, they discuss issues relating to manganese as a critical material and how battery companies such as Panasonic lean towards manganese batteries.
Jack Lifton: I'm speaking today with Jim Engdahl who is the CEO of Star Minerals. He's in his office in Saskatoon where he's going to tell us what Star Minerals is about and what it wants to accomplish and when that might be. Over to you Jim.
Jim Engdahl: Thanks Jack. Well, Star Minerals is a junior company that's been around a long time and it's metamorphosed into different businesses, but when I became the management of the company, the CEO, and Gary Billingsley came on my board it was done with the specific intention of using the public vehicle that Star, as it was called at the time, Star Uranium, to create a public company in which we could in turn develop strategic metals. The start of that--- the first was to joint venture to Great West Minerals' project, Hoidas Lake, into that.
Jack Lifton: Yes.
Jim Engdahl: That's our original plan.
Jack Lifton: Okay. What has happened? As we know from battle plans, the minute the battle starts the plan changes. What's happened since then?
Jim Engdahl: Well, market conditions always dictate a lot of those changes, as you know Jack. I think what happened with us is we initially as it turns out commenced a preliminary economic assessment report with Barr Engineering out of Minneapolis, who are very familiar with the Hoidas Lake project. That is in the process right now. Also, as we started moving forward the general markets were terrible in terms of raising capital to really do a whole lot of things and so we were looking towards other ways of thinking out of the box to create some things. Also, we did develop a strategic plan to work towards developing other strategic metals, particularly as it related to the battery world.
The first opportunity that came to us was an opportunity via our engineering group out of Minneapolis and a manganese project in Minnesota and a very exceptional deposit of manganese that the company that owned it before was not their history to be in the mining industry. They spent a lot of money trying to develop it, specifically for some technology purpose. As things developed one of the things that did happen was that they got approached by a company that had developed a new battery technology. That company was OTI out of Vancouver. That particular battery was manganese based. As such, our mine to market model that we've used in the past came into play. That's where Gary and myself decided that this would make a lot of sense to now work towards building a strategic company with strategic metals focused in the battery world and with Hoidas Lake also being clearly one of our prime projects as well for the rare earth sector.
Jack Lifton: I've always--- As you know, I've always been a supporter of the mine to market concept. In fact, Gary was the first person I knew who ever enunciated that theme, mine to market, and it stuck in my mind for these many years. I think that basically mine to market is a strategy looking for a solution. I'm glad to see that this has expanded beyond the rare earth space. To hear the rest of the interview, click here
Disclaimer: Star Minerals is an advertorial member of InvestorIntel.
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News & Politics
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sympathy4dadevil
10年前
SUVRF-The Rising Star in the Manganese Battery Space
Posted on January 27, 2015 by Christopher Ecclestone
It seems appropriate having just written on Great Western’s recent travails to take a look at the executives that first brought GWG to its initially success before decamping to their new vehicle Star Minerals (CSE: SUV). Nowadays the company is a Saskatoon-based, diversified exploration-stage company, with a primary focus on strategic technology metals. Star Minerals was known as Star Uranium up until October 2013.
In 2013 Star entered into a joint venture on Great Western’s rare earth project in Saskatchewan, Hoidas Lake. This we shall discuss briefly a bit further along. Star also holds a gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region as well as base metal and uranium properties. However the company’s direction is now starting to crystallise with a recent deal signaling that Electrolytic Manganese, in a mine to market format, is the mineral the company has decided to pursue.
Manganese
Manganese is a chemical element with symbol Mn and atomic number 25. It is not found as a free element in nature; it is often found in combination with iron, and in many minerals. Manganese is a metal with important industrial metal alloy uses, particularly in stainless steels.
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Manganese is the world’s twelfth most prevalent mineral and is mined in South Africa, Australia, China, Brazil, Gabon, Ukraine, India and Ghana and Kazakhstan. It is the fourth most traded metal with annual production (in 2011) amounting to an estimated 14 million tonnes. As a direct shipping ore (DSO) it has become in recent years almost the exclusive preserve of mega-producers, and smaller players have disappeared. One of the largest players has been BHP-Billiton (with mines in Australia and South Africa) while the largest player in North America is probably Grupo Autlan in Mexico. The BHP Manganese assets (amongst others) are shortly going to be cast adrift when the South32 demerger operation is effected.
Battery Usage – Covering the Gamut
We should start by noting that manganese is currently employed in that most prosaic of battery formats, the alkaline battery (think AA or AAA). There is nothing new in that but it does provide a constant demand for manganese and has done for over half a century. It is also one in which little effort goes into the recycling of the manganese metal.
More relevance to Star’s move is the application known as the Lithiated Manganese Dioxide (LMD) Battery. The standard mix of LMD used in batteries contains 4% Lithium, 61% manganese and 35% oxygen by atomic weight. The attractions of this format are that LMD has high power output, thermal stability and enhanced safety when compared to other lithium ion battery types. For these reasons LMD batteries are currently being used in the Chevy Volt and Nissan Leaf. Research at the University of Illinois has achieved an advanced prototype battery, using Lithiated Manganese that can be recharged in as little as two minutes (equivalent to filling a gas tank).
Battery consumption of Electrolytic Mangansese Dioxide (EMD) has been predicted to be fastest growing segment of manganese production.
Electrolytic_Mn
Electrolytic Manganese
Manganese scarcely gets a mention in the Canadian markets for several reasons. The main one is that the trade is so dominated by the bulk metal trade that juniors are just not players (or have not been in recent memory) while a secondary factor is that Canada and the US and peculiarly poorly resourced in this metal so if juniors or majors have dabbled it has tended to be those in Australia that have done so.
Despite this the metal does have relevance to the North American economy with the USA being the largest consumer of EMD globally at 41%. Currently there is no production of electrolytic manganese in North America. For a long while American Manganese was the great white hope for this mineral in North America but never seemed to get escape velocity.
The Recent MOU
In early December 2014, Star Minerals announced the signing of a Memorandum of Understanding with Cooperative Mineral Resources (CMR) of Brainerd, Minnesota and Octopus Technologies (of Vancouver, BC) to cooperate on developing a mine-to-market manganese-based battery technology. This was a key strategic shift designed to take Star into the business of finding, exploring and developing strategic metal deposits for the battery industry. By implication, as with many others in the REE space, it might be seen as a distancing from that over-crowded sector.
CMR is owned 100% by Crow Wing Power, which is a member-owned electric utility, with the cooperative distributing electricity to 37,000 customers in Cass, Crow Wing and Morrison counties in rural Minnesota.
The Emily Deposit
In 2009, CMR began work to advance the development of the Emily Manganese/Iron Ore Project located near Emily, Minnesota on the Cuyuna Iron Range.
Although manganese has been reported at various places in the Emily district, its distribution has not been studied in detail, partly because of the pervasive alteration, partly because of a relatively thick glacial cover, and also partly because the resource was considered to be an extension of that in the better-known North range.
emily_lake
The ultimate goal of the project is to supply electrolytic manganese metal to the steel industry and electrolytic manganese dioxide to the battery industry. CMR has undertaken extensive work including exploration core drilling, bulk sampling at Emily and mineralogical and metallurgical testing at recognized analytical laboratories, and has been successful in producing EMM and EMD from samples taken at Emily.
In May 2013, Barr Engineering of Minneapolis completed a report entitled “Mineral Resource Report on the Emily Manganese Project Minnesota” compiling historic and modern data from the CMR work to produce an historic estimate of manganese mineralization at the Emily deposit. The Barr estimate incorporates drilling results from three separate drilling programs; the first from October 1945 to June 1950, the second in September and October 2011, and the third in October and November 2012 for a total of 20 drill holes totaling 8,861 feet.
Based on the report, the deposit ranges from:
4 billion pounds of contained manganese grading at 16.48% Mn at a cut-off grade of 10% Mn
to 2.2 billion pounds of contained manganese grading at 9.2% Mn at a cut-off grade of 1% Mn
Star and CMR intend to enter into an agreement forming a joint venture to develop the Emily deposit dependent upon proof of the project’s technical and economic viability.
The Offtakers
OTI is an energy storage company which has developed a smaller, lighter battery that significantly reduces the cost of energy storage and is suited for backup/standby power applications and smart grid management systems. OTI is in a strategic partnership with Kemetco Research in building the prototype battery for testing and certification. Kemetco also specializes in extractive metallurgy and chemical processing and has done extensive work for CMR on manganese metallurgy.
The initial focus will be to produce EMD to be sold to OTI in an offtake agreement between OTI and the CMR/Star JV (though terms are yet to be established. OTI has in turn completed and signed a sales distribution agreement, for their storage battery, with a significant global player in this market. The time frame of all this is quite short as CMR and Star intend to complete and sign the JV agreement by the end of February 2015 with OTI and the JV having signed their offtake agreement by the same date. OTI will have provided details of the sales agreement between themselves and the significant distributor by the end of February 2015. Of ourse with so many parties there is always the potential for slip-up in coordinating the sequence of final deals. Amongst the potential pitfalls are that Kemetco and OTI must come to an agreement on completing the test facility for their battery plant and final terms need to be agreed between Kemetco and the JV to build the test facility to produce EMD.
A Few Words of Hoidas Lake
The Hoidas Lake project in northern Saskatchewan is made up of 14 mineral claims, totaling about 12,490 hectares. The deposit has, according to Star, one of the highest proportions of neodymium (Nd) present in any known rare earth deposit and this element is of particular strategic importance to the permanent magnet industry. The Measured and Indicated resource for Hoidas Lake amounts to around 50,000 tonnes of contained TREE grading at 2.027% by weight.
Back in October 2013 Great Western Minerals signed an option and joint venture agreement with Star for the Hoidas Lake project, executing on a preliminary deal inked back in June 2013.
Under the terms of the deal, Star was given the option to acquire a 51% stake in the property, separated into two tranches. The first option would give Star a 25% interest, and is contingent on the company completing an NI 43-101 compliant preliminary economic assessment at the project within two years. In March 2014 Star engaged Barr Engineering to complete the required PEA report however this has yet to be released.
The additional option, for the remaining 26%, is dependent on Star finishing a feasibility study during a four year period after exercising the first option.
Conclusion
The management team at Star are undertaking the increasingly common task these days of “turning the supertanker” with a morphing from a Rare Earths company into a manganese (and technology metals) company. At least the Hoidas Lake REE asset is not one that is too advanced or that has had too much effort expended upon it. It can sit in the freezer a bit longer without too much harm being done.
With American Manganese preserved in aspic there was a space for a North American producer of Manganese (particularly Electrolytic Manganese) and Star have clear decided to move into the space elbowing AMY to the side. Management at Star must also be breathing a sigh of relief at moving into a metal where the metallurgy is an order of magnitude simpler than the REE space they have left behind.
The move on the Emily property ticks the boxes on the torturous path to reestablishing domestic US sources of production in a swathe of strategic metals that have fallen into a state of neglect due to expediency. At least the Star crew will not have to surf the mosh-pit of wannabes that crowded them out of the Rare Earth space. EMD is a much sparser populated space. The coming month should see some of the technical accords and JVs of the various parties involve start to slot into place and then the Spring should see work on Emily kick up to verify its potential for mining.
- See more at: http://investorintel.com/rare-earth-intel/rising-star-manganese-battery-space/#sthash.94ibzW94.dpuf
nascar_trading_pit
10年前
NEWS-Star Minerals Group Signs Multi-Party Memorandum of Understanding to Develop Manganese Mine with a Mine to Market Strategy
Marketwired
Press Release: Star Minerals Group Ltd. –
SASKATOON, SASKATCHEWAN--(Marketwired - Dec 4, 2014) - Star Minerals Group Ltd. (CSE:SUV) ("Star") announces the signing of a Memorandum of Understanding (MOU) with Cooperative Mineral Resources LLC ("CMR") of Brainerd, Minnesota and Octopus Technologies Inc. ("OTI") of Vancouver, BC, to cooperate on developing a mine-to-market manganese-based battery technology.
Star is a Saskatoon, SK-based junior mining company, focused on finding, exploring and developing strategic metal deposits for the battery industry, as well as other critical materials products for downstream applications in the green energy sector.
CMR is owned 100% by Crow Wing Power ("CWP") with operations based in Brainerd, Minnesota. CWP is a member-owned electric utility, with the cooperative distributing electricity to 37,000 customers in Cass, Crow Wing and Morrison counties in rural Minnesota. In 2009, CWP, through CMR, began work to advance the development of the Emily Manganese/Iron Ore Project located near Emily, Minnesota on the Cuyuna Iron Range. The ultimate goal of the project is to develop a natural resource for the benefit of the local economy, the members of CWP and the State of Minnesota and to supply electrolytic manganese metal ("EMM") to the steel industry and electrolytic manganese dioxide ("EMD") to the battery industry. CMR has undertaken extensive work including exploration core drilling, bulk sampling at Emily and mineralogical and metallurgical testing at recognized analytical laboratories, and has been successful in producing EMM and EMD from samples taken at Emily. In May 2013, Barr Engineering Co. ("Barr") of Minneapolis, Minnesota, completed a report entitled "Mineral Resource Report on the Emily Manganese Project Minnesota". The report compiled available historic data and modern data from the CMR work to produce an historic estimate of manganese mineralization at the Emily deposit. Based on the report, the deposit ranges from 1.4 billion pounds of contained manganese grading at 16.48% Mn at a cut-off grade of 10% Mn, to 2.2 billion pounds of contained manganese grading at 9.2% Mn at a cut-off grade of 1% Mn.
The following additional information required when reporting historic estimates is provided below:
•The 2013 historic estimate by Barr incorporates drilling results from three separate drilling programs; the first from October 1945 to June 1950, the second in September and October 2011, and the third in October and November 2012 for a total of 20 drill holes totaling 8,861 feet.
•The historic estimate relies on earlier reports, namely Pahlman 1996, Marston 2008, and Barr 2012.
•The historic estimate relied on Barr checking, validating and updating the Emily assay and geological database.
•The historic estimate relied upon a comprehensive Quality Assurance/Quality Control program involving the use of blanks, standards and field duplicates that was instigated by Barr.
•Barr did not assign categories to the historic estimate and a comparison to NI43-101 categories is not possible.
•Additional in-fill and exploratory drilling may be required to upgrade the status of the Barr historic estimate to that of a current mineral resource or mineral reserve.
•The Company is not treating the Barr historic estimate as current mineral resources or mineral reserves.
The Company cautions that a qualified person (within the meaning of NI 43-101) has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves and should not be relied upon until they have been verified and supported by a compliant NI 43-101 technical report.
OTI is an energy storage company which has developed a smaller, lighter, green battery that significantly reduces the cost of energy storage and is ideally suited for backup/standby power applications and smart grid management systems. OTI is in a strategic partnership with Kemetco Research Inc. ("Kemetco") in building the prototype battery for testing and certification. Kemetco also specializes in extractive metallurgy and chemical processing and has done extensive work for CMR on manganese metallurgy.
Star and CMR intend to enter into an agreement forming a joint venture ("JV") to develop the Emily Manganese/Iron Ore Project. Should the technical and economic viability of the Emily Manganese/Iron Ore Project be established, it is the Company's intent to fully develop the project. The initial focus will be to produce EMD to be sold to OTI in an off take agreement between OTI and the CMR/Star JV under terms to be established. OTI has in turn completed and signed a sales distribution agreement, for their storage battery, with a significant global player in this market.
CMR and Star intend to complete and sign the JV agreement by the end of February 2015. OTI and the JV will also have signed the offtake agreement by the same date. OTI will have provided details of the sales agreement between themselves and the significant distributor by the end of February 2015.
Other conditions precedent to the final agreement will be due diligence by all parties, final terms between Kemetco and OTI on completing the test facility for their battery plant and final terms between Kemetco and the JV to build the test facility to produce EMD.
While the components of this mine-to-market business model are in their early stages, from mine development to the testing, certification and production of batteries, all the parties are in place to execute in a very timely manner.
Jim Engdahl, President and CEO of Star says "I am extremely excited about this project and pleased to be working with the high caliber of people from CMR and OTI in developing what has the potential to be an important type of storage battery for specific applications."
Bruce Kraemer, CEO of CMR, says, "We are looking forward to working with Star and OTI as the revolution of the green battery industry evolves and the demand for manganese as a critical component increases. Currently there is no production of electrolytic manganese in North America ?öÇ a key factor for this continent to remain globally competitive in the green energy field."
Bob Wallace, CEO of OTI says, "The synergies of collaborating with Star and CMR to bring the Emily project into commercial production are obvious and very beneficial to all participants. OTI will secure a stable, long-term supply of EMD for its batteries while Star/CMR have a major purchaser for their production."
About Star Minerals Group Ltd.
Star is a Saskatoon-based, diversified exploration stage company, with a primary focus on strategic technology metals, and its advanced joint venture rare earth project Hoidas Lake. To advance exploration, the Company has leveraged the strength and experience of its management, board of directors and advisors to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs.
The Company entered into a joint venture in an advanced rare earth project in Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region as well as base metal and uranium properties.
Gary L. Billingsley, P.Eng., P.Geo., an independent director of the Company and a qualified person within the meaning of National Instrument 43-101, has reviewed and approved the technical content of this news release.
STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".
For more information, please visit our website at www.starminerals.ca.
Forward Looking Statements
This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Star's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Star believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Other factors that could materially affect such forward-looking statements are described in the risk factors in the most recent management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Star does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. This cautionary statement expressly qualifies the forward-looking statements contained in this document.
.
.Contact:.
.Star Minerals Group Ltd.
Jim Engdahl
306-664-3828
306-244-0042
info@starminerals.ca
www.starminerals.ca
https://uk.finance.yahoo.com/news/star-minerals-group-signs-multi-162558091.html
sympathy4dadevil
10年前
OTCBB-SUVRF SUV GOLD MINING DD
http://www.starminerals.ca/s/Dons_Lake.asp
Don's Lake
Pine East Property - "Don's Lake"
Don's Lake Map
The conceptual target is a high grade, vein-type gold deposit similar to that being mined at Claude Resources Inc.'s ("Claude") Seabee Mine..The Don's Lake zone, which is a surface exposure of a high grade gold vein-type mineralized zone, has been the target of historic drilling. The property is located between the Seabee Mine and the Santoy 8 Mine, both currently being mined by Claude.
History of Exploration at Don's Lake
In 1986, Shane Resources carried out work on the property. A cut-line grid with 100-metre line-spacing was established and a VLF-EM survey completed. About 20% of the grid was mapped geologically. These data were evaluated, and nine areas were proposed for further exploration work.
In 1987, Placer Dome optioned the property from Shane Resources, and carried out geochemical soil sampling and geological mapping on the grid. Placer Dome also sampled tills on a property to the south of the Don's Lake Zone claim. Analysis of gold grains in those bulk till samples outlined a dispersion train of gold grains that was traced up-ice onto the property.
In 1996, Shane carried out prospecting, stripping and trenching, which resulted in the discovery of several gold showings. Later in 1996, Shane drilled 9 holes to test some of the showings. Subsequent work,was carried out by Claude, on behalf of Shane, in contemplation of a joint venture between them. In 2000, Claude re-evaluated the showing discovered by Shane, and did more prospecting, which resulted in the discovery of several new gold showings.
In 2002 and 2003, Claude drilled 1551.2 meters in nine holes to test some of the showings previously found. In the winter of 2006 and 2007, Claude drilled 8056 meters in 29 holes in and around the Don's Lake showing, bringing their total to 38 holes. These holes outlined a mineralized zone trending east southeasterly from the eastern end of Don's Lake. A number of intervals with significant gold grades were intersected over a strike length of approximately 80 meters to 100 meters.
Highlights of Don's Lake
1996: 9 drill holes (602 m) completed with gold assays greater than 1 g/t intersected in 8 of the 9 holes including vein intersections grading 27.60 g/t over 0.3 m core length (SH96-1), 4.49 g/t over 0.4 m core length (SH96-2) and 5.81 g/t over 0.6 m core length (SH96-6).
2002/2003: 11 holes drilled (1800 m), with 7 of the 11 holes returning greater than 1 g/t gold including vein and shear zone intersections grading 2.35 g/t gold over 6.6 m core length (SH02-02), 1.89 g/t over 9.45 m core length, including a high grade zone of 6.03 g/t over 1.4 m core length (SH03-08) and 44.07 g/t over 0.6 m core length (SH03-11).
2006/2007: 28 holes drilled (7938 m) with excellent gold mineralization intersected in a number of drill holes. Highlighted intersections for the 2006/2007 drilling are provided in the table below:
Drillhole
From ( m)
To (m)
Interval* (m)
Gold (g/t)
SH06-13
83.59
86.0
2.41
19.05
includes
85.4
86.9
1.6
28.51
SH06-16
57.55
58.22
0.67
9.74
SH06-19
19.4
19.85
0.45
15.85
SH06-20
12.25
16.38
4.13
9.66
68.12
71.82
3.7
2.7
includes
68.85
69.64
0.79
9.47
252.58
255.1
2.52
2.53
SH06-23
77.65
81.18
3.53
8.21
includes
77.65
80.14
2.49
11.00
SH06-25
137.86
138.86
1.0
6.16
194.12
194.41
0.29
68.14
SH06-27
131.82
139.86
8.04
12.80
includes
131.82
133.82
2.0
43.08
246.55
248.17
1.62
4.35
SH06-28
197.0
197.9
0.9
8.61
SH06-29
162.8
163.92
1.12
35.41
203.75
204.71
0.96
11.77
SH06-30
99.4
100.22
0.82
6.95
113.38
114.53
1.15
12.56
SH06-31
178.0
179.0
1.0
11.76
214.55
216.47
1.92
4.00
277.75
280.64
2.89
30.94
includes
277.75
278.75
1.0
87.45
SH07-32
198.2
199.3
1.1
24.56
SH07-35
304.0
307.0
3.0
4.96
includes
305.0
306.0
1.0
11.42
*Interval is core length. True width is unknown at present. Grams = g, Metric Tonne = t
Drilling during 2006 and 2007 by Claude Resources, on behalf of Shane, intersected gold mineralization in most of the 28 drill holes. In a number of holes, multiple parallel silicified shear and quartz vein zones were intersected within metavolcanic and sedimentary rocks trending west-northwest over a minimum strike length of 600 m. Gold mineralization is associated with pyrite, pyrrhotite, chalcopyrite in silicified and quartz vein stockwork zones. Visible gold is common. Mineralization has been intersected beneath and southeast of Don's Lake and is open in all directions, including west, east and down dip of the known mineralization.
Area Overview
The Seabee Gold Operation consists of two producing mines: the Seabee Gold Mine and the new Santoy 8 Gold Mine opened in 2010. The Seabee Gold Mine is 5 kilometers west of the Don's Lake zone where Claude commenced commercial production in December 1991. The Don's Lake zone is also adjacent to Claude's Santoy 8 mine, which is approximately 9 kilometers to the east. Since start-up, the Seabee Operation has produced approximately 1.1 million ounces of gold.
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sympathy4dadevil
10年前
NEWS-Star Minerals Group Ltd. Corporate Update
CNSX : SUV OTCBB SUVRF
October 20, 2014 12:47 ET
Star Minerals Group Ltd. Corporate Update
SASKATOON, SASKATCHEWAN--(Marketwired - Oct. 20, 2014) - Star Minerals Group Ltd. (CSE:SUV) ("Star") announces further to the news release dated August 6, 2014, an update on the operations of its Casey - Snider placer gold project.
As at October 10th, 2014, Star has produced and sold 97oz of gold at the Casey-Snider operation through its wholly owned US subsidiary, Star Minerals Group U.S. LLC.
Delays in start-up and continuity of production has adversely affected the production rate and the corresponding cash flow from the operation to date. In response, Star's management team has made what it believes are the necessary improvements to increase production rates going forward. The changes made at the Casey-Snider operation were made by working closely with its operational staff on site in Drummond Montana to increase efficiency, significantly decrease costs and eliminate any further downtime. Star's Canadian management team would like to thank the efforts of its US staff on its dedication and hard work in identifying and eliminating the start-up challenges at the production site. This week, starting October 14th, will mark the first week of continued production at the maximum rates and Star expects substantially higher corresponding production until the end of the mining season sometime in late November, dependent on weather. We will start production again as early as possible in the spring of 2015 and will be targeting eight months of production for 2015.
Further to the operational update, Star announces that it has issued 1,000,000 common shares from treasury in lieu of $50,000.00 of debt in relation to the terms of the definitive agreement as outlined in Star's August 6th news release.
Star's President and CEO Jim Engdahl states "We are very pleased with the operational improvements that have been made which will allow the Casey-Snider placer gold operation to be successful in the future."
Star entered into a lease arrangement effective May 1, 2014 with the goal of putting into production a placer gold operation on the leased property. Star's objective was and is to produce cash flow to allow the company to move forward in developing its other assets related to strategic minerals in the energy world such as rare earths, graphite, lithium, cobalt, manganese and vanadium.
About Star Minerals Group Ltd.
Star is a diversified exploration stage company with a primary focus on strategic technology metals, and its advanced joint venture rare earth project Hoidas Lake. To advance exploration, the Company has leveraged the strength and experience of its management, board of directors and advisors to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs.
The Company entered into a joint venture in an advanced rare earth project in Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region as well as base metal and uranium properties.
STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".
For more information, please visit our website at www.starminerals.ca.
Forward Looking Statements
This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Star's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Star believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Other factors that could materially affect such forward-looking statements are described in the risk factors in the most recent management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Star does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. This cautionary statement expressly qualifies the forward-looking statements contained in this document.
Contact Information
Star Minerals Group Ltd.
Jim Engdahl
306-664-3828
306-244-0042 (FAX)
info@starminerals.ca
www.starminerals.ca
http://www.marketwired.com/press-release/star-minerals-group-ltd-corporate-update-cnsx-suv-1959208.htm
nascar_trading_pit
11年前
Latest news- Star Minerals Group Ltd. Begins Production on Montana Gold Operation.
Star Minerals Group Ltd.
August 6, 2014 (CSE-SUV) (OTCBB SUVRF)
.
SASKATOON, SASKATCHEWAN--(Marketwired - Aug 6, 2014) - Star Minerals Group Ltd. (SUV.V) ("Star" or the "Company") is pleased to announce the Company's 100% owned subsidiary Star Minerals Group U.S., LLC ("Star US") has signed a definitive agreement with the Komberec family from Drummond, Montana to lease certain mineral claims and assume management of the Casey-Snyder placer gold operation near Drummond, Montana. It is also pleased to announce that over the course of the last four months the Komberec family and Star US began preparation to commence production. On July 28, 2014 the plant was commissioned and production began on August 1, 2014.
Star US began production under the terms of the definitive agreement:
•Lease the Casey-Snyder mineral claims for a period of 10 years, or as long as commercial production in maintained.
•Pay the Lessor a 15% royalty on all gold produced from the Casey-Snyder operation with a minimum royalty payable of US$50,000. The royalty can be paid in cash or gold, at the Lessor's option. Star US will advance US$25,000 of the initial royalty payment on signing the lease agreement.
•Lease additional mineral claims in the vicinity of the Casey-Snyder property for US$10,000 per annum, with lease payments escalating to US$20,000 commencing on the second anniversary and beyond until gold production is achieved on the claims, after which payment will revert to the same 15% royalty arrangement applicable to the Casey-Snyder property.
•Rent suitable existing operating equipment from the Lessor.
•Provide sufficient start-up working capital to recommence operations.
The start-up costs have been slightly under budget, and start-up was only slightly behind the scheduled date due to a delay in receiving all final permits and authorizations. The Company intends to provide regular updates on the results of this operation.
The Casey-Snyder property is situated in an historic gold mining area. Since the 1890s, both hard rock and placer gold mining operations have existed in the immediate area of the Casey-Snyder claims, and since the 1980s, small scale placer gold mining has taken place on the Casey-Snyder claims. The area on the claims to be processed is approximately 70 meters wide and 10 kilometers long. The property also offers excellent exploration potential to locate an in situ source of the gold as well, and will be pursued through an exploration program presently being planned.
Star President and CEO Jim Engdahl continues to emphasize, "Star's core focus of strategic metals is strengthened through the acquisition of the Casey-Snyder placer gold operation. The operation is a strategic asset which is intended to produce short and long term cash flow to the company to further its core exploration assets. This will enable further progress on acquiring and advancing presently owned or JV property in a diversified strategic metals portfolio while increasing shareholder value in a continuing volatile market environment. Further, Star is pleased to have secured experienced, dedicated personnel in Montana to ensure short and long term maximization of the cash flow potential of this low capital cost asset."
About Star Minerals Group Ltd.
Star Minerals Group is a Saskatoon based, diversified exploration-stage company, with a primary focus on strategic technology metals, and its advanced joint venture rare earth project Hoidas Lake. To advance exploration, the Company has leveraged the strength and experience of its management, board of directors and advisors to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs.
The Company entered into a joint venture in an advanced rare earth project in Saskatchewan - Hoidas Lake. Star also holds a strategic gold exploration property in the Seabee gold mining district, diamond properties in the Fort a la Corne region, as well as base metal and uranium properties.
STAR TRADES ON THE CSE UNDER THE SYMBOL "SUV".
For more information, please visit our website at www.starminerals.ca.
Forward Looking Statements
This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Star's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Star believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Other factors that could materially affect such forward-looking statements are described in the risk factors in the most recent management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Star does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. This cautionary statement expressly qualifies the forward-looking statements contained in this document.
Commodity MarketsCompany EarningsDrummond, Montana
Contact:
Star Minerals Group Ltd.
Jim Engdahl
306-664-3828
306-244-0042
info@starminerals.ca
http://www.starminerals.ca
finance.yahoo.com/news/star-minerals-group-ltd-begins-155926222.html
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