Exploration Firing On All Cylinders

peterGRANDICH
Exploration Firing On All Cylinders
North of
the Border
A budding mining group has two companies
in Eastern Canada that have all the makings of
seeing 2011 as their best year yet. The Exploration Group, headed by Mark Morabito, has
Alderon Resources and Crosshair Explorations
firing on all cylinders.
Alderon (ADV-TSX-V) is an exploration
and development company with an iron ore
project that is slated for near term production. The Kamistiatusset (“Kami”) Property
is located next to mining towns of Wabush,
Labrador City and Fermont in Western Labrador, Canada. The property is also within close
proximity to road, railway and hydro power.
The company recently completed 25,749m of
drilling on the Kami project. The 2010 $7.5 million dollar exploration program also included
metallurgical testing, ground geophysics surveys and local infrastructure upgrades. An NI
43-101 resource estimate is expected in Q1 of
this year. A $2.5 million dollar winter exploration program has been planned and should
had commence in the first week of February.
The program will include 5,000m of drilling
as well as an updated resource estimate and a
scoping study.
The goal of the 2010 and 2011 exploration
programs is to delineate 600 to 800 million
tonnes with grades between 28 to 32% iron.
Worldwide demand for steel
will keep driving iron ore
prices upward and Alderon is
well positioned to benefit from
the continued demand.
These grades are analogous to those at Consolidated Thompson’s nearby Bloom Lake
Deposit. The potential tonnage and grade
are conceptual in nature and it is uncertain
if further exploration will delineate a mineral
resource.
New York
MAY 9-10, 2011 | MARRIOTT MARQUIS
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8 The Prospector | April 2011
Worldwide demand for steel will keep
driving iron ore prices upward and
Alderon is well positioned to benefit from
the continued demand. The Alderon team
Juniper Ridge Uranium Project in Wyoming, which is host to a historical uranium resource of 6.97 million pounds.
The Bootheel Uranium Project, also
Crosshair has been “born again” at what seems to have
been a near perfect moment. Interest in Uranium and
Vanadium is growing strongly and trading activity in
the company has never been better.
is comprised of skilled professionals with
significant iron ore expertise to advance
Kami towards production. Recent takeover activity in the area has only made
ADV more interesting.
Crosshair Exploration & Mining Corp.
(NYSE Amex: CXZ) (TSX: CXX) is a
dominant player in the exploration and
development of uranium, vanadium and
gold in North America. The company
recently announced plans to acquire the
located in Wyoming, has in-situ mining
potential and an initial NI 43-101 indicated uranium resource estimate of 1.09
million lbs and an additional 3.25 million lbs inferred. Bootheel has exceeded
the minimum mining threshold and
is designed for near term production.
Crosshair plans to spend $5 million dollars in Wyoming beginning in Q2 2011
in order to increase and upgrade both
resources before the end of the year.
The CMB Uranium/Vanadium Project is located in Labrador, Canada and
Crosshair has demonstrated the multi-deposit potential of the project by successfully developing four currently defined
resources -- C Zone, Area 1, Armstrong
and Two Time Zone. All four resources
are open for expansion. Crosshair completed a Vanadium Resource Expansion
Program, with the goal of significantly
increasing the vanadium resource without the need for any drilling. An updated
resource estimate was due in the first
quarter of 2011.
Crosshair has been “born again” at
what seems to have been a near perfect
moment. Interest in Uranium and Vanadium is growing strongly and trading
activity in the company has never been
better.
Peter Grandich publishes the Grandich
Blog and is a compensated consultant to
both companies in this article. He’s also
the Managing Member of Trinity Financial, Sports & Entertainment management Company.
Minefinders is a precious metals mining and exploration company operating the multi-million ounce
Dolores gold and silver mine in northern Mexico. Minefinders’ goal is to increase its annual production
in the next five years through increased efficiency, strategic acquisitions, and focused exploration.
TSX: MFL NYSE AMEX: MFN
www.minefinders.com
April 2011 | The Prospector 9