SYS-CON MEDIA Authors: Lori MacVittie, Pat Romanski, Elizabeth White, Yeshim Deniz, Glenn Rossman

News Feed Item

Guyana Platinum Discoveries

OAKVILLE, ON, March 24, 2014 /PRNewswire/ - Yukon Gold Corporation, Inc. (the "Company or Yukon") (OTC Market: YGDC)

(LOGO: http://photos.prnewswire.com/prnh/20140322/TO618LOGO)

The Company is pleased to announce it has completed an Agreement with GlobalMin LLC ("GlobalMin"), incorporated in Nevada, USA and GlobalMin Guyana Inc ("GGI") incorporated in Guyana, South America to acquire 100% ownership of GGI and GlobalMin's 77% interest in a Platinum Project controlled by GGI, subject to board and shareholder approval.

Consideration for the purchase is to be 200,000,000 common shares of the Company plus additional consideration if further interest is acquired in the Platinum Project.

The Guyana Platinum Project (the "Project") is made up of three (3) main Target areas that may contain the sources of the Platinum Group Minerals ("PGM") present in river sediments located downstream of these Targets.  PGM have been known from river sediments in Guyana since the mid-1920s, about the same time that platinum was discovered in South Africa, but the bedrock sources have eluded discovery for almost a century. These significant discoveries were made by Dr. Paul Lechler who's Ph.D. in geology and geochemistry included a dissertation on platinum deposits.  Over a 27-year career as Chief Geochemist for the Nevada Bureau of Mines and Geology, Dr. Lechler published an impressive volume of reports and articles along with presentations and speeches during his tenure. He retired in 2011 to focus entirely on the Guyana Platinum Project where he has dedicated 14 years to exploring for Platinum in Guyana. His hard work and diligence have now come to fruition with the discovery of these three target areas. Dr. Lechler's company GlobalMin will become a controlling shareholder of Yukon upon the completion of this transaction and will be appointed a director.  In addition, Dr. Lechler will assemble a strong, diverse geological and engineering consulting team to assist in his efforts in developing these targets.

Target 1 is a body of lower Proterozoic anorthosite with features suggestive of the presence of a platinum reef that has been traced on the surface for four (4) miles.  This geologic setting is similar to that of the J-M Reef in the Stillwater intrusion in Montana and, especially, to the Merensky Reef in the Bushveld intrusion in South Africa, which is also of Proterozoic age.

Target 2 is a Proterozoic mafic dike that extends over 25 miles, with widths up to one (1) mile, with strong aerial magnetic anomalies along the structure.  Surface sampling has demonstrated anomalous mineralization of PGM and associated elements related to one of the magnetic anomalies at the north end of the dike.  Much of the dike to the south remains currently unexplored.

Target 3 is a bedrock magnetic anomaly in lower Proterozoic mafic rocks underlying PGM-bearing river sediments along a one-mile reach of river. These sediments are estimated to contain as much as 100,000 ounces of platinum and 50,000 ounces of palladium.  The bedrock source of this profound PGM anomaly is the focus of exploration efforts at Target 3.

Dr. Lechler commented, "After eluding discovery for almost a century, we are now beginning to uncover the bedrock origins of the PGM that are known from Guyana's rivers, using modern technology and persistent hard fieldwork.  Guyana's largely-undeveloped interior jungles are covered with thick soils and vegetation, bedrock and the PGM mineralization is largely hidden, and access is very difficult compared to South Africa, where Dr. Merensky was able to quickly follow placer PGMs to the famous mineralized reef that is still in production today."

GGI presently holds an exploration permit covering 3.3 million acres which contains provisions to be converted into as many as ten (10) Prospecting Licenses.  The application for these Prospecting Licenses, covering 128,000 acres (200 square miles), is currently being processed and the licenses are expected to be issued shortly.  Yukon is responsible to raise the initial round funding of $600,000 within 120 days of closing.  These funds are to fund some of the Project expenses and working capital to be followed by a larger financing to fund the initial drilling of all 3 Targets.

Administration of the Company is under contract with Lance Capital Ltd. an Ontario Canada corporation whose staff has been providing administration service to public companies since 1975.

The remaining 23% interest in the Platinum Project is held by Mojave Gold Corporation, a Nevada private company.  Yukon plans to make every effort to acquire this interest.  Yukon has assumed all responsibility of GlobalMin in negotiations with Mojave.  Mojave borrowed a large portion of the money it invested in the Platinum Project to earn their 23% interest and are subject to a lawsuit which names GlobalMin and GGI.  The lenders have agreed to release GlobalMin and GGI without prejudice on closing of this agreement.

The Company has received majority shareholder approval to change its name to GlobalMin Ventures Inc.

Yukon Gold Corporation, Inc. is currently a shell company trading on the OTC Markets in the Pink Category under the symbol "YGDC".  The Company has been devoted since November 2010 to looking for a promising development project around which the Company can be revitalized.  This Platinum Project meets all its expectations.  Yukon is excited about acquiring GlobalMin's interests in Guyana and is looking forward to working closely with Dr. Lechler over the coming months to advance the Platinum Project.  Final closing is expected to be completed on or before March 28, 2014.

FORWARD-LOOKING STATEMENTS:  This news release may contain certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended.  Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements.  Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words or statements that certain events or conditions "may" or "will" occur.  Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors.  The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change.  The reader is cautioned not to place undue reliance on forwarding-looking statements.

SOURCE Yukon Gold Corporation, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
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, moderated by Ashar Baig, Research ...
StackIQ offers a comprehensive software suite that automates the deployment, provisioning, and management of Big Infrastructure. With StackIQ’s software, you can spin up fully configured big data clusters, quickly and consistently — from bare-metal up to the applications layer — and manage them efficiently. Our software’s modular architecture allows customers to integrate nearly any application with the StackIQ software stack.
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, will focus on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud pla...
As Platform as a Service (PaaS) matures as a category, developers should have the ability to use the programming language of their choice to build applications and have access to a wide array of services. Bluemix is IBM's open cloud development platform that enables users to easily build cloud-based, creative mobile and web applications without having to spend large amounts of time and resources on configuring infrastructure and multiple software licenses. In this track, you will learn about the...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: ...
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do today to safely move to software-defined network and compute architectures, including: How normal ope...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: S...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff hap...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accel...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customiz...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
SYS-CON Events announced today that ElasticBox is holding a Hackathon at DevOps Summit, November 6 from 12 pm -4 pm at the Santa Clara Convention Center in Santa Clara, CA. You can enter as an individual or team of up to 10 developers. A New Star Is Born Every Month! All completed ElasticBoxes will then be sent to a judging panel - 12 winners will be featured on the ElasticBox website in 2015. All entrants will receive five full enterprise licenses for one year + ElasticBox headphones + Elasti...
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT tranformation? In his session at 15th Cloud Expo, John Hatem, head of V...
Cloud services are the newest tool in the arsenal of IT products in the market today. These cloud services integrate process and tools. In order to use these products effectively, organizations must have a good understanding of themselves and their business requirements. In his session at 15th Cloud Expo, Brian Lewis, Principal Architect at Verizon Cloud, will outline key areas of organizational focus, and how to formalize an actionable plan when migrating applications and internal services to...
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP ...
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments.
SYS-CON Events announced today that Calm.io has been named “Bronze Sponsor” of DevOps Summit Silicon Valley, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Calm.io is a cloud orchestration platform for AWS, vCenter, OpenStack, or bare metal, that runs your CL tools puppet, Chef, shell, git, Jenkins, nagios, and will soon support New Relic and Docker. It can run hosted, or on premise and provides VM automation / expiry, self-service portals,...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce t...
Blue Box has closed a $10 million Series B financing. The round was led by a strategic investor and included participation from prior investors including Voyager Capital and Founders Collective, as well as the Blue Box executive team. This round follows a $4.3 million Series A closed in December of 2012 and led by Voyager Capital. In May of this year, the company announced general availability of its private cloud as a service offering, Blue Box Cloud. Since that release, the company has dem...