Exploration Briefs

Fortuna Silver Mines reported very high-grade assays from step-out drilling at its Trinidad North discovery adjacent to its San Jose silver-gold mine in Oaxaca, Mexico. Intercepts have included 2,762 g/mt silver and 14.46 g/mt gold over estimated true width of 4.2 m, 1,190 g/mt silver and 8.45 g/mt gold over estimated true width of 10.2 m, and 1,503 g/mt silver and 7.76 g/mt gold over estimated true width of 6.5 m.

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Alrosa, Endiama Join to Explore 
for Angolan Diamonds

Russian diamond producer Alrosa and the Angolan national diamond company Endiama have established a 50:50 exploration joint venture in Angola. The registration procedure is expected to take several months, with the launch of exploration to follow in the second half of 2014. The parties also signed a mining investment contract regulating the joint venture’s activities.

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Gold Fields Pursuing Earn-in on Yorbeau’s Rouyn Property

Yorbeau Resources reported in late January that Gold Fields Sudbury Exploration Corp., a wholly owned subsidiary of Gold Fields Ltd., has initiated the 2014 exploration program at Yorbeau’s Rouyn property 4 km south of Rouyn-Noranda, Quebec. The 2014 program is being undertaken pursuant to an option and joint-venture agreement and represents the balance of a $4 million exploration commitment made by Gold Fields to be spent during the first 18 months of the agreement. Gold Fields is required to spend $19 million on exploration over a 4.5-year period to earn a 51% joint-venture interest in the project.

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Polar Star and Newmont to Explore and Possibly Develop Montezuma Project

Polar Star Mining has entered into a joint-venture agreement with Newmont Ventures Ltd., a subsidiary of Newmont Mining, to explore and, if appropriate, develop Polar Star’s Montezuma copper project in the Antofagasta and Calama districts of northern Chile. A three-phase earn-in amounting to $20.5 million over a seven-year period will allow Newmont to own up to a 75% interest in the concessions. Newmont will act as the manager and operator of the joint venture.

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