New platinum proof coin sells out

Fri, 27 Aug 2010 00:00:00 GMT

A new platinum proof coin released recently by the US Mint has proved to be extremely popular among collectors, it has been confirmed.

The one-ounce American Eagle design sold out by the 22nd August report date, with 10,000 being snapped up in just over a week, according to NumisMaster.com.

This represents a decent improvement from the number of platinum coins sold by the mint in both 2008 and 2009, which reached about 8,000 and 4,769 respectively.

However, the volume of sales is still substantially lower than the total recorded in 1997 - which was the first year of issue - when 20,851 coins were purchased.

The latest coin is the second in the six-part 'Preamble Series' programme, which was introduced last year and aims to celebrate the main concepts of American democracy.

Featuring the theme 'To Establish Justice' - the second of the six Preamble of the US Constitution principles - on the reverse, the coin is made from .9995 platinum.

The US Mint was created by Congress with the Coinage Act of 1792, and placed within the Department of State.

Source:

Proof Platinum Eagles Sell Out (25/08/10)

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Exploration Roundup August 2010

Mon, 16 Aug 2010 00:00:00 GMT

Noront announces high grade assay results at Eagle's Nest and provides exploration update (20/07/10)

Noront Resources has published drill assay results from 15 holes at its McFaulds Lake property in the James Bay Lowlands.

The company drilled seven holes at its Eagle Nest deposit and eight at its AT12 site, noting that it continues to "significantly increase" the resource at the former.

One of the highlights at Eagle's Nest was NOT-10-083, which intersected 87.4m, averaging 1.93 per cent nickel (Ni), 0.82 per cent copper (Cu), 1.8g/t platinum(Pt) and 3.17g/t palladium (Pd).

This included 7.5m averaging 4.83 per cent Ni, 1.85 per cent Cu, 11.14g/t Pt and 6.69g/t Pd.

NOT-10-087A intersected 89.3m, averaging 2.49 per cent Ni, 0.99 per cent Cu, 0.85g/t Pt and 3.97g/t Pd, including 13.8m averaging 6.97 per cent Ni, 1.03 per cent Cu, 0.7g/t Pt and 7.72g/t Pd.

In addition, NOT-10-084 intersected 89.2m, averaging 1.75 per cent Ni, 0.87 per cent Cu, 0.8g/t Pt and 3.29g/t Pd, including 5.2m averaging 5.21 per cent Ni, 2.54 per cent Cu, 0.81g/t Pt and 11.10 g/t Pd.

Meanwhile, the main bright spot at AT12 was NOT-10-2G41, which intersected 146.5m, averaging 0.24 per cent Ni, 0.04 per cent Cu, 0.08g/t Pt and 0.21g/t Pd.

Noront Chief Executive Wes Hanson revealed that the company is optimistic of locating further new nickel, copper and pgm mineralisation in deposits close to Eagle's Nest.

"We have interpreted, tested and proven where and why mineralisation occurs in the Eagle's Nest deposit and are now ready to apply that knowledge elsewhere within our land position," he said.

"This knowledge, combined with the results of the deep penetrating ground geophysics currently underway, will allow us to identify and prioritise new drill targets proximal to the Eagle's Nest deposit."

Best still to come for Ring of Fire discoveries – Noront (23/07/10)

Noront is hoping to complete a feasibility study on the project, which is located in the Ring of Fire mining camp in north-eastern Ontario, in the second half of next year.

Mr Hanson revealed that if the results are positive, the construction of a new mine will commence in 2012, with first production expected within three to five years.

In an interview with Mining Weekly, he also announced that Eagle's Nest would probably offer between 20 and 25 per cent of its sales in platinum and palladium.

"It's still a very early stage exploration camp and the major discoveries are still to be found," he told the news provider.

"[But] Eagle's Nest is a very valuable asset … and it could be the start of the next major mining company."

Wallbridge Mining Reports on Activities in Sudbury, Duluth and British Columbia (27/07/10)

Wallbridge Mining Company has issued an update on its activities at its three major mining assets.

Exploration work has commenced at the firm's properties in Sudbury with a 4,900m drilling programme at the Parkin Offset Dyke site, which is being funded by Impala Platinum.

In addition, Wallbridge is testing several properties as part of the Sudbury Camp Joint Venture with Lonmin, the world's third-largest platinum producer.

The company also announced that Duluth Metals, which was spun out of Wallbridge in 2005, has signed a $130 million deal with Antofagasta to speed up work at the Nokomis copper-nickel-pgm deposit.

And finally, drilling is underway at seven copper-gold-molybdenum properties belonging to Wallbridge in British Columbia, Canada.

Gold Fields: Miner to revisit its Finland prospect (06/08/10)

Gold Fields has revealed that it will start a new investigation into its Arctic Platinum Project in Finland.

The company is set to conduct a six-month pilot on a new process called Platsol, which involves the pressure oxidation of polymetallic flotation concentrates.

After placing pgms and other base metals in the autoclave at the same time, they can then be recovered individually using conventional methods such as precipitation or SX-EW.

The Arctic Platinum Project has a resource of 12 million ounces of platinum and palladium.

Anglo Platinum Earns 51% Interest in Solitario's Pedra Branca Platinum-Palladium Project, Brazil (09/08/10)

Anglo Platinum increases stake in Brazilian PGM project (09/08/10)

Anglo Platinum has completed its $1.5 million funding for an exploration programme at Solitario's Pedra Branca platinum-palladium project, taking its interest in the operation to 51 per cent.

The world's largest platinum producer, which has invested $7 million in the Brazilian project as part of a joint venture, will now oversee a 3,000m core drilling programme, starting next month.

"We are very pleased with Anglo Platinum's decision to continue funding Pedra Branca, which we believe represents the most advanced pure platinum-palladium project in South America with over 300 holes drilled to date," said Solitario President and Chief Executive Chris Herald.

"The Pedra Branca project hosts eight separate deposits of shallow platinum-palladium mineralisation. We continue to discover potential new areas of mineralisation on our large 70,000-hectare property position."

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New American Eagle platinum coin set to go on sale

Tue, 10 Aug 2010 00:00:00 GMT

Sales of the new one-ounce American Eagle Platinum Proof Coin will commence at 12:00 Eastern Time on 12th August, the US Mint has confirmed.

The latest coin is the second in the six-part 'Preamble Series' programme, which was introduced last year and aims to celebrate the main concepts of American democracy.

Featuring the theme 'To Establish Justice' - which is the second of the six Preamble of the US Constitution principles - on the reverse, the coin is made from .9995 platinum.

US Mint Artistic Infusion Programme Master Designer Donna Weaver supplied the design, while the coin was sculpted by sculptor-engraver Phebe Hemphill.

"The design features a blindfolded justice - symbolising impartiality - holding traditional scales and carrying a branch of laurel," the US Mint revealed.

As with the 2009 release, the latest coin will feature a new American Eagle 'privy mark', which is from an original 'coin punch' identified at the US Mint in Philadelphia.

The US Mint is accepting orders through its online catalogue or on several toll-free numbers, with purchases limited to five per household during the first week of sales.

Sources:

2010 American Eagle Platinum Proof Coin Available August 12 (05/08/10)

US Mint to release new platinum proof coin (03/08/10)

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Platinum today: News/Miscellaneous

New platinum proof coin sells out

Exploration Roundup August 2010

New American Eagle platinum coin set to go on sale