|By Marketwired .||
|December 6, 2012 02:18 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/06/12 -- Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6IH) ("Homestake") reported today that surface soil and rock sampling on the Kinskuch project has extended Ag-Pb-Zn mineralization south of Homestake's 2011 drilling by an additional 750 metres and expanding the overall Illiance River trend to more than 4.5 kilometres of strike length. In addition, a second sub-parallel trend of elevated Cu and Au anomalies has been identified to the west of the main trend, along a prominent geophysical conductivity anomaly. The geologic setting is believed to be similar to the historic Dolly Varden VMS mine, the largest historic silver producer in the region. The Illiance River trend is the first of several high-priority areas identified by Homestake on this large 63,200ha property located in British Columbia, adjacent to the Company's Homestake Ridge project.
Homestake's VP of Exploration, Rob Macdonald, explains, "Some of the best VMS deposits in the world occur within Jurassic-age Hazelton rocks, and include the past-producing Eskay Creek and nearby Dolly Varden deposits. Our drilling demonstrated that Ag-Pb-Zn mineralization occurs at very attractive grades, similar to grades at the Dolly Varden deposits. Our rock and soil geochemical results, combined with our EM geophysical data, demonstrate that we have an extensive VMS horizon at Illiance River that could host several significant mineral deposits. We will initially offset our successful prior drill holes because we feel there is a very good likelihood of developing an attractive resource there, but VMS deposits typically form in clusters so other deposits probably exist in this under-explored region."
High-grade precious and base metal assays were reported in samples from several locations along the mineralized trend and extending south of the 2011 drilling, with noteworthy samples including:
-- massive sulphide float assaying 3321g/t Ag, 1.9g/t Au, 0.8% Cu, 40.1% Pb and 22.4% Zn (4341g/t AgEq)(1) from in the vicinity of previously drill holes HR11-003 and HR11-004; -- strongly elevated silver mineralization in a series of three select chip samples ranging from 14.5g/t Ag to 61.9g/t Ag, located 350 metres to the south of the 2011 drilling; and -- 989g/t Ag, 1.1% Cu, 0.4% Pb and 20.3% Zn (1621g/t AgEq) assay from chip sampling of outcrop located an additional 400 metres to the south.
These surface results are similar to those from initial 2011 sampling where subsequent drilling identified a series of sub-vertical mineralized VMS horizons along a 500m strike length of the trend. Results from 2011 included a 2.8 metre interval averaging 318g/t Ag, 0.4g/t Au, 2.2% Pb and 6.5% Zn (552g/t AgEq) from drill hole KN11-02; and a 3.9 metre interval averaging 268g/t Ag, 0.2g/t Au, 1.3% Pb and 6.5% Zn (462g/t AgEq) from drill hole KN11-03 (see NR-04-12).
In addition, anomalous Cu-Au values in rock and soil samples were identified west of the Ag-Pb-Zn VMS horizons within a large 1.5km x 0.5km EM geophysical anomaly, part of the company's 2011 airborne geophysical survey. This mineralization may be more analogous to mineralization discovered by the company at its Homestake Ridge deposits.
Results from the 2012 sampling include:
-- a select-chip sample of heavily disseminated sulphides in outcrop grading 6.4% Cu; -- a series of select-chip samples along the new trend ranging from 0.1% Cu to 0.5% Cu; and -- a series of anomalous Au (10 to 115ppb) and Cu (60 to 277ppm) values in soil samples along the trend.
Mineralization along the entire 4.5 km Illiance River trend remains open in all directions.
To view accompanying figure, visit the following link: http://media3.marketwire.com/docs/IllianceRiverTrend.jpg
Homestake owns a 100 percent interest in the Homestake Ridge project, which is located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0g/t AuEq cut-off, of 191,000oz gold and 1,350,000oz silver (215,500oz AuEq) plus an Inferred Resource of 530,000oz gold and 13,470,000oz silver (775,900oz AuEq)(2). Two deposits have been delineated to date, with a third, South Reef, discovered late in 2011. Multiple exploration targets remain to be tested on the large 2585 hectare property. Agnico-Eagle has an option to fund exploration and development costs of $25.3 million over a 5-year period to earn a 65% interest in the property. Homestake also holds an option to acquire a 100% interest in the 623-square-kilometre Kinskuch project located adjacent to, and to the southeast of, Homestake's Homestake Ridge project. Homestake holds a 10.19 percent interest in Bravada Gold Corporation (TSX VENTURE:BVA), which is exploring and developing numerous gold/silver projects in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
ON BEHALF OF THE BOARD
Joseph A. Kizis, Jr., President and Director
(1) AgEq - is calculated using the approximate three-year trailing average for the precious and base metals. Ag-$23, Au-$1350,-Cu-$3.50, Pb-$0.95 and Zn-$0.85. The AgEq calculation does not account for relative metal recoveries, which are unknown at this time.
(2) The current estimate was prepared by Roscoe Postle Associates Inc. (RPA). Mineral Resources on the Main Homestake deposit were estimated previously in 2010 using a block model constrained by 3D wireframes of the mineralized zones. Mineral Resources on the Homestake Silver deposit were estimated in 2011 using a block model constrained by pierce points projected to 2D surfaces. The Main Homestake block model comprised an array of blocks measuring 5 m x 5 m x 5 m, with grades for Au, Ag, and Cu interpolated using ID3 weighting. The Homestake Silver block model comprised an array of blocks measuring 10m x 10m. At a 3.0g/t AuEq. cut-off, the models identified an indicated resource of 888,000 tonnes averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and a cumulative inferred resource of 4,060,000 tonnes averaging 4.3g/t Au, 158g/t Ag.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Homestake Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Dec. 19, 2014 02:00 AM EST Reads: 904
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Dec. 19, 2014 02:00 AM EST Reads: 1,846
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Dec. 18, 2014 09:45 PM EST Reads: 878
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 08:00 PM EST Reads: 1,143
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 02:30 PM EST Reads: 873
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
Dec. 18, 2014 12:00 PM EST Reads: 1,040
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 11:30 AM EST Reads: 916
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 18, 2014 11:00 AM EST Reads: 2,119
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 18, 2014 10:30 AM EST Reads: 2,249
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 18, 2014 10:30 AM EST Reads: 1,803
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 18, 2014 10:15 AM EST Reads: 2,075
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 18, 2014 10:00 AM EST Reads: 1,891
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 18, 2014 10:00 AM EST Reads: 1,836
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Dec. 18, 2014 10:00 AM EST Reads: 1,639