mining engineering: animas

Showing posts with label animas. Show all posts

Wednesday, May 19, 2010

Ernesto is still out there batting

hi ernie!

Mining's NewBestMexicanFriend, Ernesto Echavarria, is still out there batting hard it seems. He's had mixed results so far, having been royally creamed by the scammers at ATW Gold (ATW.v) and having no luck with Rye Patch Gold (RPM.v) either, but on the other hand hitting a good win so far in Copper Fox (CUU.v) and also making decent coin on Pediment (PEZ.to).

So today we note that Ernesto is upping his stake in Animas Resources (ANI.v), buying in for the second time (at least) into this explorer doing Mexico and taking up over half the latest 35c placement: Here's the paste from the page:

ANIMAS RESOURCES LTD. ("ANI")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: May 18, 2010
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to
a Non-Brokered Private Placement announced April 7, 2010:

Number of Shares:        4,000,000 shares

Purchase Price:          $0.35 per share

Warrants:                2,000,000 share purchase warrants to purchase
                        2,000,000 shares

Warrant Exercise Price:  $0.55 for a one year period for an 18-month
                        period.

Number of Placees:       22 placees

Insider/Pro Group Participation:

                        Insider equals Y/
Name                     ProGroup equals P/            No. of Shares

Gary Bogdanovich         P                                   100,000
 Ernesto Echavarria       Y                                 2,294,500
Brenda Howard            P                                   100,000
Pacific Opportunity
Capital Ltd. (Mark T.
Brown & Family)         Y                                   300,000

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company
must issue a news release announcing the closing of the private placement and
setting out the expiry dates of the hold period(s). The Company must also
issue a news release if the private placement does not close promptly. Note
that in certain circumstances the Exchange may later extend the expiry date of
the warrants, if they are less than the maximum permitted term.

ANI is a company that this humble author has always watched from the sidelines, as the company personnel have a good reputation for honesty and straight-shooting while the projects themselves haven't really lived up to the billing so far. Anyway, Otto sez that Señor Echavarria is in better company here than the ex-Can of Corn scumballs that screwed him in Australia. DYODD.

Wednesday, May 12, 2010

Today's silver riddle

Is rock that contains 2.2Kg of silver and 9.6g/t gold economically viable? Personally, I reckon it has a fair chance of turning a profit :-). Here's a NR from Fortuna Silver (FVI.to) out today:

VANCOUVER , May 12 /PRNewswire-FirstCall/ - Fortuna Silver Mines Inc. (TSX: FVI / Lima Stock Exchange: FVI) is pleased to announce the results of drilling completed in the upper portion of the Animas Vein at the Caylloma Mine in southern Peru . Exploration raises and cross-cuts completed in late 2009 and early 2010 along the Animas structure above level 6 of the mine cut high-grade silver-gold mineralization as previously reported (see Fortuna news release dated Feb. 2, 2010).
    Highlights of the drilling include:

     ANIS016010   2222 g/t Ag, 9.64 g/t Au, 1.17% Pb and 3.02% Zn over 9.2m
     ANIS016210    431 g/t Ag, 0.45 g/t Au, 0.53% Pb and 0.26% Zn over 11.8m
     ANIS015610    520 g/t Ag, 0.45 g/t Au, 0.47% Pb and 0.32% Zn over 7.6m
     ANIS015910    305 g/t Ag, 0.64 g/t Au, 0.91% Pb and 2.33% Zn over 8.2m
     ANIS015810    508 g/t Ag, 0.42 g/t Au, 1.51% Pb and 3.76% Zn over 4.1m
Widths given are estimated true widths based on the orientation of the drill holes relative to the Animas Vein. The drilling tested the Animas Vein mineralization over a strike length of 500m and vertically from level 6 to the surface, a distance of 150 to 200m along the inclination of the vein.
The full assay results from all twenty drill holes completed in the upper portion of the Animas Vein are summarized below with length-weighted assay averages calculated for the mineralized intervals. The new silver results compare extremely favorably to the 156g/t Ag average Proven and Probable Reserve (P&P) grade for Caylloma with sixty percent of the holes returning higher silver grades (see Fortuna news release dated July 16, 2009). CONTINUES HERE

Thursday, December 17, 2009

Animas (ANI.v): a real world answer

In the post Animas (ANI.v): a technical question of a couple of days ago, this humble corner of cyberspace mused on whether the share price weakness in Animas Resources (ANI.v) had anything to do with its upcoming drill results.

Now we know. The first set of core results were published today and sure enough, they suck. I wonder how Bob Bishop is going to spin this one?

 Summary of drill hole intercept of greater than 0.100 gpt over more than 2
                                meters                                
                                                                      
Hole                          Interval          Thickness      Average Grade
                             meters             meters        grams/tonne
----------------------------------------------------------------------------
                                                                      
                      Toro-Gregorio                                   
                                                                      
ARTG-001                 192.65-195.60               2.95              0.124
                      325.50-332.45               6.95              0.312
                      475.95-479.55               3.60              0.636
                                                                      
ARTG-002                        0-6.10               6.10              2.390
                      256.75-263.00               6.25              0.702
                      430.50-435.30               4.80              0.271

                                                                      
Summary of drill hole intercept of greater than 0.100 gpt over more than 2
                                meters
                             
Hole                          Interval          Thickness      Average Grade
                             meters             meters        grams/tonne
----------------------------------------------------------------------------
                                                                      
ARTG-003                   32.85-42.45               9.60              5.450
                                                                      
ARTG-004                 119.45-122.45               3.00              0.219
                      145.95-167.35              21.40              0.214
                      189.50-216.35              26.85              0.221
                      228.95-231.00               2.15              0.306
                      240.85-258.80              17.95              0.184
                      267.80-284.10              16.30              0.494
                      352.05-354.75               2.70              2.230
                                                                      
ARTG-005                                    No intervals                 
                                                                      
ARTG-006                 546.70-549.75               2.55              0.149
                                                                      
ARTG-007                 203.05-205.60               2.55              0.257
                      250.00-254.20               4.20              2.077
                      268.25-269.30               2.55              0.280
                      430.20-433.20               3.00              0.224
                      441.00-462.15              21.12              1.224