PDAC 2012 – Mining Milestones in March

PDAC 2012, the world's largest mining convention, is in full swing in Toronto.

After meeting with mining companies for the past two days at the annual PDAC convention in Toronto, we’re pleased to present a list of upcoming mining milestones in March. Or shall we say, March/early April as prefaced by many of the executives in attendance at this year’s convention.

In alphabetical order, here’s what we discovered.

AuRico Gold Inc. (Stock Profile – TSX:AUQ) reported they are ready to “pour the first gold” from the company’s Young-Davidson mine in northern Ontario towards the end of this month or early April.

Balmoral Resources Ltd. (Stock Profile – TSXV:BAR) has an ongoing drill program underway on its gold project in Northern Quebec and expects to release the results from 45 holes throughout March and early April.

Copper Fox Metals Inc. (Stock Profile – TSXV:CUU) is set to release its long awaited Feasibility Study in late March/early April.

Eastmain Resources Inc. (Stock Profile – TSX:ER) has budgeted $10 million and will commence a 50,000 meter drill program in March for their Clearwater gold project in James Bay.

Encanto Potash Corp. (Stock Profile – TSXV: EPO) is finishing off an updated 43-101 Resource Report which is set for release in late March or early April.

Formation Metals Inc. (Stock Profile – TSX:FCO) expects to secure its $80 million credit facility this month. Management stated this is the last round of capital required to complete the development of its highgrade cobalt mine and reach production.

Goldgroup Mining Inc. (Stock Profile – TSX:GGA) is set to release a Preliminary Economic Assessment this month. Goldgroup is developing three gold projects in Mexico.

Orbite Aluminae Inc. (Stock Profile – TSX:ORT) has been halted by the AMF as the Quebec regulators have asked for more details regarding the comapany’s Preliminary Economic Assessment Technical Report. Compliance was not anticipated within this month.

Pele Mountain Resources Inc. (Stock Profile – TSXV:GEM) is finishing off their Preliminary Economic Assessment Report for the company’s flagship Eco Ridge rare earth/uranium project in Ontario.

Peregrine Diamonds Ltd. (Stock Profile РTSX:PGD) is initiating drilling in Lac de Gras (NWT) in early March and will start ground geophysical surveys at Chidliak (Nunavut) in late March. The Chidliak project has 59 kimberlites discovered to date.

SilverCrest Mines Inc. (Stock Profile – TSXV:SVL) is set to release phase II drill results (80 holes) for the La Joya project towards the end of March.

Ur-Energy Inc. (Stock Profile – TSX:URE) anticipates that a 43-101 Resource Estimate will be ready in 6 to 8 weeks which will include the company’s 2012 property additions at Lost Creek.

Vista Gold Corp. (Stock Profile – TSX:VGZ) expects to release a Feasibility Study for its Mount Todd gold project in Australia prior to the end of March.

Volta Resources Inc. (Stock Profile – TSX:VTR) is working on a 43-101 Resource Update for release this month which is expected to convert previously reported Inferred Resources to Indicated Resources.

Mike Luft

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