Junior roundup: Firestone, MAG, Ventana, Andes Gold
Edmonton-based Firestone Ventures (TSX-V: FV) has wrapped up work on phase 1 of its 2009-10 zinc-lead-silver regional exploration program in western and central Guatemala, the company said in a statement.
Crews collected 149 rock samples, 26 stream sediment samples and 1,033 soil samples with results expected later in January, at which point targets for further surface work and potential drilling will be evaluated.
Regional mapping and sampling and targeted drilling will restart in mid-January.
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Vancouver's MAG Silver (TSX: MAG) reported the latest gold and molybdenum assays on drill holes at the Pozo Seco zone of its Cinco de Mayo property in Mexico include 44m grading 0.16% molybdenum and 0.27g/t gold.
Additional highlights are 65m of 0.10% molybdenum and 0.18g/t gold, as well as 39m of 0.12% molybdenum and 0.15g/t gold. The holes demonstrate that the moly-gold zone continues to the northwest and remains open toward recently acquired ground, MAG said.
Cinco de Mayo is in Chihuahua state.
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Vancouver-based Ventana Gold (TSX: VEN) reported it has completed the exercise of existing option agreements for the El Cuatro, La Suiza and La Itala properties in Colombia, giving it 100% of the minerals rights for the three blocks.
The properties are within and adjacent to the La Bodega gold property, where another option agreement is under dispute with the land owners. Ventana has said the dispute is an attempt to invalidate the option agreement and is without merit. The case is in arbitration.
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New York's Andes Gold (Pink Sheets: AGCZ) reported plans to begin a phase 1 assessment of a possible tailings processing operation in Ecuador. Andes has stockpiled 5,000t of tailings from some months of small-scale production on its own properties and a number of neighboring operations.
The idea is to begin processing the tailings, which could hold 3.5g/t gold, within the next several months, Andes said in a statement.