SYMC Macktush Drilling Results
February 10, 2006 - SYMC Resources Limited (“SYMC” or the “Company”) wishes to announce that it has received all assay results from its completed Phase 1 diamond drilling program of the David Vein at the Macktush property, including duplicate assay results of quarter-sawn drill core from selected quartz-sulphide-mineralized vein intervals. SYMC is also analyzing final data and the contractor’s technical report and beginning to follow up results from the detailed, multi-parameter airborne geophysical survey completed earlier this fall over its contiguous Macktush, Dauntless and MC properties.
Phase 1 drilling at Macktush targeted the projection of the David Vein and parallel goldsilver-copper bearing quartz-calcite-sulphide veins located approximately six km south of Dauntless property targets drilled earlier in the year. Twenty diamond drill holes totaling 1074 metres have been completed over a strike length of 200 metres, successfully tested the David Vein and underlying, sub-parallel Upper David Vein on 25 to 50 metre section spacing, consisting of two to four holes per section from 2 tiers of drill platforms. Assay results have been received from all twenty holes, as follows:
|
Hole ID |
Vein ID |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
Silver (g/t) |
Copper (%) |
|
MD-05-01 |
David Vein |
9.0 |
10.7 |
1.7 |
3.282 |
16.000 |
0.049 |
|
MD-05-02 |
David Vein |
9.9 |
11.4 |
1.5 |
3.159 |
16.000 |
0.061 |
|
MD-05-03 |
David Vein |
9.6 |
11.3 |
1.7 |
1.148 |
5.000 |
0.026 |
|
MD-05-04 |
David Vein |
9.5 |
11.9 |
2.4 |
0.527 |
3.000 |
0.035 |
|
MD-05-05 |
David Vein |
12.7 |
14.3 |
1.7 |
0.575 |
1.700 |
0.042 |
|
MD-05-06 |
David Vein |
14.5 |
17.7 |
3.2 |
0.181 |
0.063 |
0.005 |
|
|
Upper David Vein |
24.8 |
25.9 |
1.1 |
0.315 |
0.600 |
0.031 |
|
MD-05-07 |
David Vein |
17.2 |
19.5 |
2.3 |
0.096 |
0.400 |
0.020 |
|
MD-05-08 |
David Vein |
20.7 |
22.4 |
1.7 |
0.599 |
4.000 |
0.086 |
|
MD-05-09 |
Upper David Vein |
17.2 |
17.8 |
0.6 |
0.115 |
0.200 |
0.003 |
|
MD-05-10 |
No significant values |
|
|
|
|
|
|
|
MD-05-11 |
No significant values |
|
|
|
|
|
|
|
MD-05-12 |
No significant values |
|
|
|
|
|
|
|
MD-05-13 |
No significant values |
|
|
|
|
|
|
|
MD-05-14 |
David Vein |
32.6 |
33.8 |
1.2 |
1.185 |
5.000 |
0.066 |
|
|
Upper David Vein |
36.6 |
37.7 |
1.1 |
2.152 |
16.000 |
0.048 |
|
MD-05-15 |
No significant values |
|
|
|
|
|
|
|
MD-05-16 |
David Vein |
35.7 |
38.0 |
2.3 |
1.575 |
6.000 |
0.096 |
|
|
Upper David Vein |
40.7 |
41.9 |
1.2 |
0.098 |
1.100 |
0.015 |
|
MD-05-17 |
David Vein |
40.7 |
42.4 |
1.7 |
0.377 |
0.900 |
0.027 |
|
|
Upper David Vein |
50.9 |
52.4 |
1.5 |
0.227 |
1.200 |
0.016 |
|
MD-05-18 |
Upper David Vein |
44.4 |
45.3 |
0.9 |
0.389 |
1.500 |
0.075 |
|
MD-05-19 |
Upper David Vein |
52.4 |
53.0 |
0.6 |
0.128 |
0.200 |
0.012 |
|
MD-05-20 |
No significant values |
|
|
|
|
|
|
The David Vein and Upper David Vein drill intercept values are disappointing and much lower in gold, silver and copper than those reported in surface trench sampling. Although variably mineralized vein structures were intersected in all holes, those furthest northeast and shallowest holes (MD-05-07,-09,-10,-11,-12,-13,-15 and -20) yielded the lowest values. However, the values of gold, silver and copper correlate quite well with one another on a sample-by-sample basis. Also, values of all three metals in vein intercepts increase to the south, as evidenced by results from the southwestern-most and deepest holes (MD-05-01, MD-05-02, and MD-05-14). This suggests a vector towards possible better values at greater depth towards the southwest beneath the nearby Fred Vein, which has been diamond drilled to shallow depths only. See SYMC press release dated October 2, 1997. The best and deepest drill intercepts from the Fred Vein was achieved in hole 87-3 (located approximately 25 meters higher in elevation and 100 metres southwest of intercepts in holes MD-05-01 and MD-05-02) which yielded two vein intercepts as follows:
0.79 metres @ 3.84 g/t Au, 16.46 g/t Ag and 0.80% Cu from 33.5 to 34.29 metres, and 3.81 metres @ 44.23 g/t Au, 172.80 g/t Ag and 0.95% Cu from 36.59 to 40.39 metres
Mapping and diamond drilling of the area southwest of the David Vein and at the Fred Vein is tentatively planned for 2006.
Geochemical analyses and assays of sawn core samples were performed by Acme Analytical Laboratories Ltd. of Vancouver, British Columbia “Acme”). Acme employed the ICP-MS 30 gram multi-element method for initial core sample analyses and the ICPES 1 gram multi-element assay method on samples yielding significant values of base and/or precious metals. Duplicate samples were taken from ten selected sample intervals containing quartz-sulphide vein mineralization from three different holes (MD -05-14, MD-05-16 and MD-05-17), quarter-sawing those intervals, and sending quarter core samples each to Acme and to ALS Chemex of North Vancouver, British Columbia (“ALS Chemex”). ALS Chemex employed the fire assay gravimetric finish 50 gram method for gold and silver and the ICPAES method for copper for the ten quarter-core samples sent to them. Results for gold, silver and copper from ALS Chemex compared well with those received from corresponding quarter-core samples sent to Acme as follows:
| ALS Chemex Results: |
Acme Results: |
||||||
| SAMPLE NUMBER |
Au ppm | Ag ppm | Cu % | SAMPLE NUMBER |
Au ppm | Ag ppm | Cu % |
| P148460 | 0.100 | <5 | 0.013 | 105170 | 0.060 | 0.200 | 0.010 |
| P148461 | <0.05 | <5 | 0.016 | 105173 | 0.034 | 3.000 | 0.009 |
| P148462 | 2.080 | 17.000 | 0.053 | 105176 | 2.152 | 16.000 | 0.048 |
| P148463 | 1.610 | 10.000 | 0.098 | 105187 | 1.683 | 7.000 | 0.115 |
| P148464 | 0.060 | <5 | <0.005 | 105190 | 0.063 | 0.100 | 0.001 |
| P146465 | 0.100 | <5 | 0.019 | 105193 | 0.146 | 0.200 | 0.011 |
| P148466 | 0.420 | <5 | 0.037 | 105207 | 0.377 | 0.900 | 0.027 |
| P148467 | 0.130 | <5 | 0.007 | 105211 | 0.021 | <0.100 | 0.005 |
| P148468 | 0.180 | <5 | 0.024 | 105214 | 0.227 | 1.200 | 0.016 |
| P148469 | 0.060 | <5 | 0.012 | 105218 | 0.059 | 0.300 |
An inferred mineral resource estimate for the David Vein was completed by David Pawliuk, P.Geo. in 2002 based upon chip sampling of trenches completed by Robert A Davey, A.C.S.M., P.Eng. in 1996, and consists of 54,000 tonnes @ 16.24 g/t gold, 61.24 g/t silver and 1.02% copper. As a result of the 2005 drilling program, this mineral resource estimate will be downgraded.
Further, the Company’s independent geophysical consultant, Ken Robertson, P.Geo., of VOX Geoscience Ltd., is reviewing the airborne geophysical survey results in conjunction with SYMC. In addition, SYMC is currently conducting groundwork to investigate the most prominent anomalies revealed by the airborne geophysical survey.
The technical information on the drilling program in this news release has been reviewed and confirmed by Jacques Houle, P.Eng., a qualified person within the meaning of National Instrument 43-101.
Signed "Herbert McMaster"
Herbert McMaster
President
For further information contact:
SYMC RESOURCES LIMITED
200 – 100 Park Royal
West Vancouver, B.C. V7T 1A2
Telephone (604) 926-SYMC
Fax (250) 723-4544
SYMC Starts Phase 1 of 2006 Spring Work Program
April 24, 2006 - SYMC Resources Limited ("SYMC" or the “Company”) (TSX-V: SY) is pleased to announce the commencement of the $270,000 Phase One gold-copper-silver exploration program at it’s wholly owned Macktush Property near Port Alberni, B.C.
Following the recommendations in the 2005 Technical Report by Jacques Houle, P.Eng. the Phase One Program consists of $170,000 for diamond drilling of known high grade gold-copper-silver targets, and $100,000 for aggressively following up new targets generated by the airborne geophysical survey completed in 2005. Both programs will commence immediately under the direction of Mr. Houle, a qualified person within the meaning of National Instrument 43-101. This program will be funded from a portion of SYMC’s current cash balances.
Macktush Property
The 100% owned Macktush Property is comprised of 36 contiguous mineral claims covering 15,364 hectares, and is centered approximately 10 kilometres (km) southwest of Port Alberni in the Alberni Mining Division on Vancouver Island. Field staff have located and prospected over 71 mineral occurrences to date.
In the fall of 2005, a 1,661 line-km magnetic, electromagnetic and radiometric airborne geophysical program was carried out. Also during 2005 2,136 metres (m) of diamond drilling was completed on the David Vein, Herbert Jr. Vein, the Tasha Zone, and the Dauntless North Veins, successfully intercepting targeted mineralization in 32 of 35 holes.
Phase One Program
The Phase One drilling will consist of 1,000 m. of exploration diamond drilling to test the gold-silver-copper bearing Fred Vein and the copper-silver-gold MC skarn targets. The drilling program is designed to establish indicated mineral resources in both targets. Fred Vein trench sampling has revealed a total known strike length greater than 1,000 m., open in both directions along strike and down-dip A metallurgical sample of the Fred Vein generated a head grade of 14.57 grams per tonne (g/t) gold, 59.66 g/t silver, 0.05% copper, and 3.134% zinc and produced a flotation concentrate grading 131.31 g/t gold, 349.29 g/t silver, 0.36% copper and 28.50% zinc. Drill results from a four-hole diamond drilling program completed during the 1980s returned the following results:
| Hole ID | From | To | Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
| DDH87-01 | 109.58 | 110.72 | 1.14 | 5.97 | 2.06 | 0.03 |
| DDH87-03 | 33.50 | 34.29 | 0.79 | 3.84 | 16.46 | 0.80 |
| 36.59 | 40.39 | 3.81 | 44.23 | 172.80 | 0.95 | |
| DDH87-08 | 71.63 | 72.88 | 1.25 | 9.94 | 1.71 | 0.03 |
| DDH88-05 | 47.22 | 48.80 | 1.58 | 0.21 | 3.09 | 0.02 |
The Fred Vein hosts inferred mineral resources of 166,000 tonnes grading 12.38 g/t gold, 48.8 g/t silver and 0.695% copper and is open at both ends along strike and to depth (SYMC press release June 12, 2002). The 2006 drilling program is designed to increase the confidence and size of this resource estimate, including indicated resources.
Phase One of the drilling program will also test the gold-silver-copper bearing MC Kola skarn. Trenching and 18 chip taken during the 1990’s yielded average grades of 12.4% copper, 138 g/t silver and 6.73 g/t gold over a average width of 0.55 metres (SYMC prospectus February 4, 1998). The 2006 drilling program is designed to establish a new indicated resource estimate.
Phase One of the airborne follow-up program will consist of GPS-guided prospecting and ground follow up of indicated targets, establishing access, trenching and sampling of the new targets detected by the 2005 detailed multi-parameter airborne geophysical survey. Ken Robertson, P.Geo. of VOX Geoscience Ltd., a qualified person within the meaning of National Instrument 43-101 has identified and prioritized several targets.
One of the initial targets identified in the survey surrounds the Rex porphyry molybdenum-copper showing (B.C. MINFILE 092F221) with clusters of magnetic,resistivity and radiometric anomalies identified over an area of 5 by 3 km. Two low resistivity zones within the target area further focus the initial ground follow up.
The Phase 1 program is designed to discover new mineral occurrences of the porphyry,skarn and/or vein types on the Company’s property. Phase 2 work will be undertaken immediately on a target-by-target basis as results warrant. Updates will be provided as the programs progress.
About SYMC
SYMC is an active gold exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum. The Macktush Property has NI 43-101 compliant indicated mineral resources which the company is working to expand.
Signed ________________
Herbert McMaster
President
For further information contact:
Herbert McMaster, President
Tel: (604) 926-SYMC
or
Mark T. Brown, CFO
Tel: (604)-687-3520
SYMC 2006 Macktush Exploration Program Update
June 20, 2006 - SYMC Resources Limited ("SYMC" or the “Company”) (TSX-V: SY) wishes to provide the following update regarding its $270,000 Phase 1 gold-copper-silver-molybdenum airborne follow-up and diamond drilling programs underway on its wholly owned Macktush property near Port Alberni, B.C.
In early June, SYMC mobilized a prospecting team to begin following up on priority airborne electromagnetic anomaly targets on its Macktush Property. The initial target is the Rex Cluster, centred on the Rex MINFILE occurrence, where 8 of 9 electromagnetic anomalies located and sampled revealed 5-25% sulphide mineralization in altered volcanics and feldspar porphyritic intrusives exposed in outcrops and trenches over an area of 2 by 2 kilometres. This widespread mineralization could represent a sulphidic halo surrounding a porphyry type and/or a high sulphidation epithermal type deposit. The anomaly cluster is spatially related to positive magnetic and radiometric anomalies. A total of 65 bedrock samples, along with soil and stream moss mat samples, have been taken to date with analyses pending from Acme Analytical Laboratories (“Acme”). Four other electromagnetic anomaly clusters remain to be tested on the Macktush property, along with numerous isolated anomalies, many located near known mineral occurrences of sulphide-related gold, silver, copper and molybdenum.
SYMC has also mobilized a diamond drilling rig to test quartz-sulphide veins in the Fred Vein area on the Macktush property. The first of eight planned drill holes has been completed which intersected multiple quartz-sulphide veins and stringers, including the targeted Moly Vein. Additional holes are planned to test the Zinc, Jack, and Fred Veins which have been mapped and sampled in exposed trenches. Results from the drilling program will be reported as analytical results are delivered by Acme. The technical information presented in this news release has been reviewed and confirmed by Jacques Houle, P.Eng., a qualified person within the meaning of National Instrument 43-101.
About SYMC
SYMC is an active gold exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper, and molybdenum. The Macktush property has NI 43-101 compliant indicated mineral resources which the Company is working to expand. Details of these resources and targets are documented in the 2005 Technical Report available for viewing on the Company’s website at http://www.symc.ca.
Signed __"Herbert McMaster"______________
Herbert McMaster, President
For further information contact:
Herbert McMaster, President
Tel: (604) 723-7027
Or
Mark T. Brown, CFO
Tel: (604) 687-3520
SYMC Announces Changes to the Board of Directors
June 28, 2006 - SYMC Resources Limited ("SYMC" or the “Company”) (TSX-V: SY) is pleased to announce that at its annual general meeting held on June 24, 2006, Messrs. Herbert McMaster, A. David Long, Mark Brown and Jeremy Link were re-elected as directors of the Company and Messrs. Len DeMelt and Craig Williams, P. Geo. were elected as new directors of the Company. The Company also announces that Mr. Sylvester Tresierra, one of the Company's founders has retired as a director of the Company but will remain a consultant and will be appointed as the local Port Alberni representative to the Company's newly formed advisory board.
Mr. Herbert McMaster, President and CEO stated: "The Company's board of directors and shareholders wish to thank Mr. Tresierra for his many years of service and contribution as a director of the Company. We are pleased that we are still able to seek Mr. Tresierra's guidance on the development of our Port Alberni properties. We are very excited to welcome Mr. Len DeMelt and Craig Williams to the board of directors. Both of them are geologists with substantial mineral development experience and we expect they will be a tremendous resource as we move forward in our exploration plan. We have strengthened our board considerably, and these additions give us the dept to seek additional resource properties to expand our portfolio."
Mr. De Melt has held management positions with twelve mining companies internationally, and was instrumental in starting and building six mines, including Gulf Oil's Rabbit Lake Mine (uranium), Syncrude Mine (oilsands), Denison Mines Quintette (coal), Homestake's Golden Bear Mine (gold), BHP's Etaki Mine (diamonds) and Goldust's Croiner Mine (gold). He is also a Director of several public and private mining companies including Acero-Martin Exploration Inc., Ballad Gold & Silver Ltd., Canadian Shield Resources Inc., and Grenville Gold Corp. and was a director of Vena Resources Inc. and Norsemont Mining Inc. Mr. DeMelt is well-known within the mining industry and brings nearly 30 years of project management and mine development experience to the Company.
Mr. Craig Williams has a Bachelor of Science in Geology from the University of Saskatchewan and is registered as a Professional Geologist (P.Geol.) in the Province of Alberta. Mr. Williams has spent the last five years providing independent geological management and consulting services that focus primarily on exploration project planning and execution. Mr. Williams is currently under contract to a major oilsands producer where he is a Project Supervisor responsible for exploration programs with budgets in excess of $10 million.
About SYMC
SYMC is an active gold exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper, and molybdenum. The Macktush property has NI 43-101 compliant indicated mineral resources which the Company is working to expand. Details of these resources and targets are documented in the 2005 Technical Report available for viewing on the Company’s website at http://www.symc.ca.
Signed "Herbert McMaster"
Herbert McMaster, President
For further information contact:
Herbert McMaster, President
Tel: (604) 723-7027
Or
Mark T. Brown, CFO
Tel: (604) 687-3520
Macktush Property Prospecting Results and Drilling Update
July 17, 2006 - SYMC Resources Limited ("SYMC" or the “Company”) (TSX-V: SY) is pleased to announce initial results from its 2006 work program consisting of prospecting of airborne geophysical targets, and diamond drilling programs of previously known targets on its wholly owned Macktush Property near Port Alberni, B.C.
Rex
Ten bedrock grab samples from sulphide-mineralized outcrops, logging road cuts and/or trenches exposed over an area of 3 kilometres by 2 kilometres yielded elevated metal values up to 124 ppb gold, 7.5 ppm silver, 136 ppm arsenic, 1.793% copper and 107 ppm molybdenum. These initial geochemistry results were received by SYMC from Acme Analytical Laboratories (“Acme”) for 46 bedrock grab samples, plus additional soil and stream sediment moss mat samples taken from the area of the Rex airborne electromagnetic anomaly cluster by SYMC’s prospecting crews during the month of June, 2006. The remaining 36 bedrock samples and the soil and moss mat samples yielded variably lower metal values. The elevated values in these elements exposed over such a large area may represent the geochemical fingerprint of porphyry and/or high sulphidation gold-silver-copper-molybdenum mineralization present in the area of the Rex Cluster.
Additional work consisting of detailed mapping, bedrock chip sampling, geochemical and geophysical modeling, and possibly drilling is planned by SYMC in its 2006 Phase 2 exploration program on the Rex target.
Moly Vein
Trench chip sampling of the Moly Vein by Jacques Houle, P.Eng. in May, 2006 yielded 4.27 g/t gold, 1.5 ppm silver, 142 ppm copper and 64 ppm molybdenum over 0.3 metres thickness. These geochemistry results were received by SYMC from Acme for surface trench chip samples and diamond drill core samples from the Moly Vein quartz-sulphide vein target, located 200 metres west of and parallel to the Fred Vein target. Two drill holes completed in June, 2006 successfully intersected the Moly Vein, consisting of MM-06-01 and MM-06-02 both collared at -45 degrees and located 75 metres northeast of and directly beneath the Moly Vein trench, respectively. MM-06-01 intersected the Moly Vein 57 metres down-hole, yielding 0.60 g/t gold and 57 ppm molybdenum over 0.5 meters. MM-06-02 intersected the Moly Vein 50 metres down-hole, yielding 34.9 ppb gold and 11 ppm molybdenum over 1.1 meters. No further drilling is warranted or planned on the Moly Vein target.
Macktush & West Clusters
Initial prospecting has been largely completed on two other electromagnetic anomaly clusters on the Macktush property, namely the Macktush and West Clusters. Five bedrock grab samples, plus soil samples from the Macktush area yielded low metal values from initial geochemistry results, with those from the West Cluster still pending from Acme. SYMC prospecting crews have commenced work on the fourth of five electromagnetic anomaly clusters.
Jack and Zinc Veins
Chip sampling of weathered trenches by Jacques Houle, P.Eng. in May, 2006 yielded 1.82 g/t gold, 0.6 ppm silver, 96 ppm copper and 23 ppm molybdenum over 0.5 metres thickness from the Jack Vein; and 1.54 g/t gold, 0.3 ppm silver, 106 ppm copper and 236 ppm zinc over 0.75 metres thickness from the Zinc Vein. These geochemistry results were received by SYMC from Acme for surface trench chip samples from the parallel Jack and Zinc Vein quartz-sulphide vein targets, located 200 metres south of the Moly Vein, and southeast of and along strike of the Fred Vein. SYMC’s drilling crews have completed two of six planned holes designed to test the Jack and Zinc Vein quartz-sulphide vein targets. Both holes successfully intersected their respective targets, with geochemistry results pending.
All of SYMC’s work programs are supervised by Jacques Houle, P.Eng., who is a qualified person under National Instrument 43-101 for the purposes of this news release.
About SYMC
SYMC is an active gold exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum. The Macktush Property has NI 43-101 compliant indicated mineral resources which the company is working to expand.
Signed ________________
Herbert McMaster
President
For further information contact:
Herbert McMaster, President
Tel: (604) 723-7027
or
Mark T. Brown, CFO
Tel: (604) 687-3520
Macktush Property Fall Exploration Update
October 25, 2006 - SYMC Resources Limited ("SYMC" or the “Company”) (TSX-V: SY) is pleased to announce interim results from its ongoing 2006 work program consisting of prospecting of airborne geophysical targets, and diamond drilling programs of previously known targets on its wholly owned Macktush Property near Port Alberni, B.C.
Initial geochemistry results and re-assay results have been received by SYMC from Acme Analytical Laboratories (“Acme”) for 175 of 245 rock samples, plus additional soil and stream sediment moss mat samples taken from four airborne electromagnetic anomaly clusters (Rex, Cous, West and Macktush) by SYMC’s prospecting crews since June 2006. Soil samples from all areas and all sampling from the Macktush cluster have yielded only low values. Several rock samples and some moss mat samples from the Rex, Cous and West clusters have yielded elevated values in molybdenum, copper, silver, arsenic and/or gold. Highlights received to date from selected rock grab and representative outcrop chip samples are as follows:
| Re-assay | High | lights | |||
| Cluster | Sample No. |
Sample Description |
Cu % | Au g/t | Ag g/t |
| Rex | 312718 | trenched quartz-sulphide vein with 30% pyrite |
1.79 | low | 7.5 |
| Cous | 312719 | trenched skarn vein fragment in fault zone |
4.45 | 5.63 | 22 |
| Cous | 312720 | 1.0 m. rep. outcrop chip of sulphide skarn vein |
2.20 | 1.19 | 39 |
| Cous | 312722 | 1.2 m. rep. outcrop chip of limestone footwall |
1.35 | 0.66 | 16 |
| Cous | 343778 | float boulder of quartz-calcite- sulphide vein |
2.83 | low | 4.0 |
| Cous | 343856 | float boulder of quartz-sulphide vein |
low | 5.55 | 2.0 |
| West | 343652 | float boulder of magnetite-sulphide skarn |
1.37 | low | low |
The Cous Cluster is centred on the MC Zone (B.C. MINFILE prospect 092F103) and consists of a gently northwest-dipping zone of sulphide mineralization containing pyrite and chalcopyrite, underlain by re-crystallized limestone and intersected by a steep northeast-trending fault zone exposed in a trenched outcrop along a logging road. The Company has commenced diamond drilling the MC Zone with steeply oriented holes collared from an exploration trail northwest and uphill from the MC Zone, with two holes completed to date and the third in progress. All three holes have intersected the MC Zone target as well as additional deeper zones containing visible chalcopyrite mineralization. Results from the MC Zone drilling program will be released after all core analyses have been received. Prospecting is in progress to follow up the mineralized float boulders in samples 343778 and 343856 from the Cous Cluster.
The Rex Cluster continues to yield intriguing outcrop exposures containing abundant pyritic stockwork veins and intense alteration within a geological setting of mixed volcanics and porphyritic intrusives over an area of 3 by 2 kilometres. Some stockwork veins containing visible chalcopyrite mineralization have been recently discovered and sampled by SYMC’s prospecting crews, from which preliminary analyses are pending. Modeling of the 2005 aeromagnetic data suggests the presence of a larger (5 by 3 kilometres) elliptical magnetic high feature which has been displaced by right lateral north-south faulting. A notice of work has been submitted by the Company to the B.C. Ministry of Energy and Mines for up to 25,000 metres of diamond drilling in two phases.
The West Cluster is centred 3 kilometres west of the Rex Cluster and 3 kilometres south of the Cous Cluster. Prospecting is planned to follow up the mineralized float boulder in sample 343652 from the West Cluster. The South Cluster is centred 3 kilometres south of the Rex Cluster, with preliminary prospecting planned as well. The Macktush Cluster is centred on the Fred and David Vein systems, 3 kilometres east of the South Cluster.
Geochemistry results have been received by SYMC from Acme for five diamond drill holes which targeted the parallel Zinc and Jack quartz-sulphide veins in the Fred Vein system, located 300 metres southwest of the David Vein target tested in 2005. Three holes successfully tested the Zinc Vein (MZ-06-01, MZ-06-02 and MZ-06-03) and two successfully tested the Jack Vein (MJ-06-01 and MJ-06-02), but all yielded only low metal values, as follows:
| Drill Hole |
Target Vein | From | To | Interval | Au g/t | Ag g/t | Cu % | Zn % |
| MZ-06-01 | Zinc Vein |
41.0 | 42.4 | 1.4 metres |
0.334 | 1.100 | 0.006 | 0.197 |
| MZ-06-02 | Zinc Vein |
56.3 | 56.9 | 0.6 metres |
0.717 | 0.300 | 0.002 | 0.047 |
| MZ-06-03 | Zinc Vein |
64.3 | 66.3 | 2.0 metres |
0.240 | 0.500 | 0.019 | 0.005 |
| MJ-06-01 | Jack Vein |
66.9 | 67.2 | 0.3 metres |
0.352 | 0.100 | 0.001 | 0.003 |
| MJ-06-02 | Jack Vein |
82.0 | 82.6 | 0.6 metres |
2.165 | 0.900 | 0.019 | 0.261 |
No further drilling is warranted or planned on the Zinc or Jack Vein targets, and no further prospecting is planned on the Macktush Cluster surrounding these showings. The inferred mineral resource for the Fred Vein system will be revised appropriately to reflect the 2006 drilling results.
All of SYMC’s work programs are supervised by Jacques Houle, P.Eng., who is a qualified person under National Instrument 43-101 for the purposes of this news release.
About SYMC
SYMC is an active gold exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum.
Signed ________________
Herbert McMaster
President
For further information contact:
Herbert McMaster, President
Tel: (604) 723-7027
or
Mark T. Brown, CFO
Tel: (604) 687-3520
Macktush Property Winter Exploration Update
January 18, 2007 - SYMC Resources Limited ("SYMC" or the "Company") (TSX-V: SY) is pleased to announce final results from its 2006 work program consisting of prospecting of airborne geophysical targets, and diamond drilling programs on previously known targets on its wholly owned Macktush Property near Port Alberni, B.C.
Both geochemistry and assay results have been received by SYMC from Acme Analytical Laboratories ("Acme") for all 336 rock samples and 26 stream sediment moss mat samples taken from four airborne electromagnetic anomaly clusters (Rex, Cous, West and Macktush) by SYMC's prospecting crews since June 2006. Several outcrop (o/c) rock samples and moss mat samples from the Rex and Cous clusters, and one outcrop rock sample from the Beach area east of the Macktush Cluster, have yielded elevated values in copper, gold, silver and/or iron and occasionally in molybdenum, lead, zinc and/or other mineral deposit pathfinder elements. Highlights received since the fall exploration update (see SYMC October 25, 2006 news release) from selected (sel.) outcrop (o/c) grab and representative (rep.) outcrop chip samples are as follows:
|
Cluster |
Sample No. |
Sample Description |
Cu % |
Au g/t |
Ag g/t |
Fe % |
|
Cous |
312742 |
0.5 m. rep outcrop chip |
0.373 |
0.183 |
17.5 |
32.2 |
|
Cous |
312746 |
0.5 m. rep. outcrop chip |
0.246 |
0.097 |
3.4 |
27.4 |
|
Cous |
312747 |
0.25 m. rep. outcrop chip |
0.111 |
0.683 |
0.4 |
35.7 |
|
Cous |
343712 |
0.33 m. select outcrop grab |
2.355 |
0.350 |
5.0 |
6.2 |
|
Cous |
343713 |
0.5 m. sel. outcrop grab |
0.139 |
0.387 |
0.6 |
28.7 |
|
Cous |
343717 |
0.33 m. sel. outcrop grab |
0.262 |
0.169 |
3.0 |
3.3 |
|
Cous |
343719 |
select outcrop grab |
0.269 |
0.255 |
3.1 |
4.8 |
|
Cous |
343721 |
5 m. sel. o/c grab |
0.255 |
0.181 |
3.4 |
4.6 |
|
Cous |
343722 |
0.13 m. select outcrop grab |
0.249 |
0.330 |
7.4 |
3.9 |
|
Cous |
343726 |
select outcrop grab |
0.452 |
0.255 |
9.3 |
26.9 |
|
Cous |
343730 |
5 m. slect o/c grab |
0.095 |
0.140 |
1.5 |
4.5 |
|
Cous |
343733 |
2 m. select o/c grab |
0.116 |
0.057 |
0.7 |
4.5 |
|
Beach |
343809 |
1.2 m. select outcrop grab |
0.834 |
0.024 |
3.0 |
3.8 |
|
(and |
0.01% |
Mo) | ||||
|
Cous |
343879 |
1 m. sel. o/c grab |
0.805 |
0.424 |
0.7 |
3.2 |
|
Cous |
343883 |
10 m. sel. o/c grab |
0.162 |
0.009 |
0.4 |
8.7 |
|
Rex |
343891 |
3 m. sel. outcrop grab |
0.119 |
0.014 |
0.2 |
18.2 |
|
Rex |
343892 |
0.25 m. sel. outcrop grab |
13.910 |
2.713 |
29.0 |
30.8 |
|
Rex |
343894 |
4 m. sel. o/c grab |
0.174 |
0.752 |
0.5 |
6.9 |
|
Cous |
343901 |
0.2 m. sel. outcrop grab |
0.049 |
0.243 |
0.5 |
41.8 |
|
Cous |
343905 |
0.06m. sel. o/c grab |
0.099 |
1.101 |
2.3 |
3.5 |
|
Cous |
343923 |
1 m. sel. o/c grab |
0.440 |
0.025 |
0.3 |
7.0 |
|
(and |
0.150% |
Pb, 0.630% | Zn) |
The presence of elevated values of copper, gold and silver in outcropping magnetite-bearing iron (Fe) skarn and chalcopyrite-bearing copper (Cu) skarn mineralization discovered by SYMC prospecting crews at several locations in the Cous Cluster surrounding the MC Zones is very encouraging. Elevated copper, lead and zinc values in tuffaceous volcanics suggests the potential for volcanogenic massive sulphide mineralization as well. The presence of elevated copper, gold and silver in outcropping quartz-sulphide (Qtz.-S.) veins and intrusive breccia in the Rex Cluster has provided focal points for phase 2 work proposed on this large (5 by 3 km.) target area. Additional modeling of the 2005 airborne geophysical data, prospecting, detailed mapping, and tenching are warranted and proposed for 2007 both to follow up these new outcrop discoveries as well as to identify bedrock sources of elevated stream moss mat values.
Both geochemistry and assay results have been received by SYMC from Acme for three diamond drill holes which targeted the MC copper-gold-silver quartz-sulphide skarn/vein Zone. All three holes successfully tested the MC Zone (referred to as MC 1), and discovered additional parallel deeper zones (MC 2, MC 3), as follows:
| Drill Hole | Target Vein | From | To | Interval | Cu % | Au g/t | Ag g/t | Fe % |
| MC-06-01 |
MC 1 Zone |
31.1 |
35.1 |
7.0 m. |
0.058 |
0.081 |
0.669 |
5.27 |
| (-60O under |
including: |
31.1 |
31.7 |
0.6 m. |
0.152 |
0.045 |
2.000 |
4.58 |
| MC showing) |
and: |
33.2 |
35.1 |
1.8 m. |
0.068 |
0.156 |
0.700 |
5.96 |
|
MC 2 Zone: |
62.5 |
79.1 |
16.6 m. |
0.164 |
0.194 |
2.051 |
7.92 |
|
|
including: |
62.5 |
66.9 |
4.4 m. |
0.132 |
0.096 |
1.652 |
7.96 |
|
|
and: |
70.6 |
71.2 |
0.6 m. |
1.380 |
1.193 |
15.30 |
6.79 |
|
|
and: |
73.5 |
79.1 |
5.6 m. |
0.205 |
0.266 |
2.749 |
7.11 |
|
|
MC 3 Zone |
96.2 |
97.3 |
1.1 m. |
0.037 |
0.797 |
0.900 |
7.80 |
|
| MC-06-02 |
MC 1 Zone |
32.5 |
32.8 |
0.3 m. |
1.009 |
0.692 |
24.00 |
16.2 |
| (-85.5O under |
MC 2 Zone? |
no |
signif | icant | intercept | |||
| MC-06-01) |
MC 3 Zone? |
94.4 |
94.7 |
0.3 m. |
0.638 |
0.582 |
4.000 |
12.3 |
| MC-06-03 |
MC 1 Zone |
35.7 |
36.0 |
0.3 m. |
0.067 |
0.042 |
0.500 |
4.61 |
| (-60O 50 m. |
MC 2 Zone |
69.5 |
79.4 |
9.9 m. |
0.092 |
0.075 |
1.082 |
6.35 |
| NNE of |
including: |
69.5 |
74.5 |
5.0 m. |
0.161 |
0.123 |
1.961 |
8.04 |
| Mc-06-01, -02) |
including: |
70.9 |
72.6 |
1.7 m. |
0.306 |
0.218 |
4.000 |
8.51 |
|
and including: |
78.5 |
79.4 |
0.9 m. |
0.073 |
0.098 |
0.800 |
7.33 |
|
|
MC 3 Zone |
109.3 |
111.1 |
1.8 m. |
0.058 |
0.132 |
1.000 |
5.03 |
The copper-gold-silver mineralization intersected during the 2006 drilling program at the MC 1-3 Zones consists of WNW-dipping, sub-parallel quartz-calcite-sulphide stockwork veins hosted by highly altered volcanics and containing variable pyrite, chalcopyrite, pyrrhotite and bornite. Additional drilling is warranted and proposed for 2007 on the MC Zones, and initial drilling is also warranted and proposed for 2007 on the Rex target. A permit to drill the Rex target is pending from the B.C. government, subject to a possible archaeological study as requested by one of the Port Alberni area First Nations. All further work on the Company's properties will be subject to the company completing equity financing to fund this work.
All of SYMC's work programs are supervised by Jacques Houle, P.Eng. who is a qualified person under National Instrument 43-101 for the purposes of this news release.
The Company has also granted Incentive Stock Options to newly elected Directors in the aggregate amount of 500,000 common shares exercisable at $0.15 per share for periods of 5 years with expiry date to October 23, 2011. The Incentive Stock Options grants are pursuant to the Company's Stock Option Plan as outlined in the Information Circular dated June 2, 2005, as approved by the majority of shareholders of the Company at its Annual General Meeting held on June 30, 2005.
About SYMC
SYMC is an active mining exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum.
Herbert McMaster
President
For Further Information Contact:
Herbert McMaster, President
(604) 723-7027
Mark T. Brown, CFO
(604) 687-3520
Macktush Property Technical Report Received
March 19, 2007 - SYMC Resources Limited ("SYMC" or the "Company") (TSX-V: SY) is pleased to announce receipt of the 2006 Technical Report "Technical Report for the 2006 Diamond Drilling Program and the 2006 Prospecting Program on the Macktush Property" from consultant Jacques Houle, P.Eng. Key points from the report are summarized as follows:
Revised and/or new indicated mineral inventory estimates established on seven targets, using a 1g/t gold block cut-off grade for the four Fred Acre gold-silver-copper quartz veins, and a zero grade block cut-off for the three MC Area copper-gold-silver quartz stockwork zones, tabulated as follows:
| Vein/Zone |
Tonnes | Gold g/t |
Silver g/t |
Copper % |
Category | Source |
| Fred Vein |
65,475 | 13.91 | 48.1 | 0.59 | Indicated | Houle, 2007 |
| Zinc Vein |
35,710 | 8.97 | 44.5 | 0.57 | Indicated | Houle, 2007 |
| Jack Vein |
13,994 | 2.00 | 0.8 | 0.02 | Indicated | Houle, 2007 |
| Moly Vein |
504 | 4.27 | 1.5 | 0.01 | Indicated | Houle, 2007 |
| MC1 Zone |
21,851 | 0.26 | 6.9 | 0.43 | Indicated | Houle, 2007 |
| MC2 Zone |
138,499 | 0.33 | 5.2 | 0.47 | Indicated | Houle, 2007 |
| MC3 Zone |
17,618 | 0.38 | 1.0 | 0.05 | Indicated | Houle, 2007 |
No further work recommended on Fred Area veins pending reconciliation of variations between historical and recent sampling, but additional drilling recommended on MC Zones particularly southwards where they appear to converge.
982 metres in 11 holes of diamond drilling completed in 2006 on five known target areas, confirming structural continuity but yielding sub-economic grade intercepts significantly lower in gold, silver and copper than historical trench sampling results.
Prospecting completed in 2006 in the area surrounding the Rex MINFILE showing has identified an area of five by four kilometres with occasional quartz-sericite-chlorite-epidote alteration, common pyrite and occasional chalcopyrite-bornite mineralization in short, narrow veins exposed in old logging road cuts. The Rex area is underlain by tuffaceous to massive mafic volcanics intruded by N-S striking and steeply dipping feldspar porphyry intrusive dikes. The geophysical expression of the Rex area consists of co-incident magnetic and radiometric highs with a low-frequency resistivity low, and nine priority electromagnetic anomalies. The Rex represents a high quality porphyry copper-molybdenum-gold target, is the best undrilled exploration target on the Macktush Property, and clearly warrants drilling.
Prospecting follow-up ground work completed in 2006 on four of five airborne electromagnetic anomaly clusters from 2005 survey yielded elevated values in key target and indicator elements from rock and stream moss mat samples taken in three areas, with selected rock assay or geochemistry highlights tabulated as follows:
| Area | Sample | Type | Rock | Width m |
Au g/t |
Ag g/t | Cu % |
Mo % | Fe % |
| Rex | 343892 | Outcrop grab |
Vein | 0.25 |
2.713 | 29.00 | 13.91 | 0.009 | 30.83 |
| West | 343652 | Float grab |
Skarn | 0.045 | 2.500 | 1.372 | 0.002 | 55.73 | |
| Cous E. |
312747 | Outcrop chip |
Skarn | 0.25 | 0.683 | 0.400 | 0.111 | <0.001 | 35.67 |
| Cous E. |
343712 | Outcrop grab |
Skarn | 0.33 | 0.350 | 5.000 | 2.355 | <0.001 | 6.22 |
| Cous E. |
343879 | Outcrop grab |
Volcanic | 1.0 | 0.424 | 2.000 | 0.805 | <0.001 | 9.89 |
| Cous E. |
343778 | Float grab |
Vein | 0.035 | 3.800 | 2.831 | <0.001 | 6.45 | |
| Cous N. |
312746 | Outcrop chip |
Skarn | 0.50 | 0.097 | 3.400 | 0.246 | <0.001 | 27.36 |
| Cous N. |
312742 | Outcrop chip |
Skarn | 0.50 | 0.184 | 17.50 | 0.373 | <0.001 | 32.18 |
| Cous N. |
343726 | Outcrop grab |
Volcanic | 0.255 | 9.300 | 0.452 | <0.001 | 26.85 | |
| Area | Sample | Type | Rock | Width m |
Au g/t |
Ag g/t |
Cu % |
Pb % |
Zn % |
| Cous NW |
343923 | Outcrop grab |
Volcanic | 1.0 | 0.057 | 0.600 | 0.044 | 0.150 | 0.630 |
Further work on the Macktush Property has been recommended by Mr. Houle, however, the Company will require further equity financing to fund this work.
The Company will also need to complete an archaeological review of the Rex area before proceeding with work on that portion of the Macktush property.
All of SYMC's work programs have been supervised by Jacques Houle, P.Eng., who is a qualified person under National Instrument 43-101 for the purposes of this news release.
The Company has also granted Incentive Stock Options to newly elected Directors in the aggregate amount of 500,000 common shares exercisable at $0.15 per share for periods of 5 years with expiry date to October 23, 2011. The Incentive Stock Options grants are pursuant to the Company's Stock Option Plan as outlined in the Information Circular dated June 2, 2005, as approved by the majority of shareholders of the Company at its Annual General Meeting held on June 30, 2005.
About SYMC
SYMC is an active mining exploration company which owns three mineral properties in B.C. and is currently exploring them for gold, silver, copper and molybdenum.
Signed Herbert McMaster, President
For further information contact:
Herbert McMaster, President
(604) 723-7027
or
Mark T. Brown, CFO
(604) 687-3520
SYMC Appoints Len de Melt Chairman and Interim President and Adds South American Dimension
March 28, 2007 - SYMC Resources Limited ("SYMC" or the "Company") is pleased to announce the appointment of Len de Melt as the Company's new Chairman of the Board of Directors and to the officer's positions of President and Chief Executive Officer ("CEO") on an interim basis. Mr. McMaster will continue with the Company in the role of Vice President with responsibility for SYMC's Port Alberni operations. The Company also wishes to announce that it has begun to assess a variety of promising opportunities in South America.
Mr. Herbert McMaster stated: "The Company's initiative to pursue opportunities in South America started nearly a year ago when Len joined the Company at last year's AGM. Len has presented some significant opportunities to the Company and I have asked him to take my place at SYMC's helm, due to his vast experience in mining and building successful junior exploration and development companies with operations in Peru and Chile. It is prudent that SYMC have someone with Len's abilities, and experience on the ground in South America, during this critical point in Company's evolution."
"On behalf of the Board, I would like to thank Mr. McMaster for his contributions to SYMC over the past many years," said Mr. De Melt. "Mr. McMaster will continue to watch over our Rex target near Port Alberni, British Columbia so that we are able to advance it when we are able to do so."
"The Company has identified several exciting projects in South America and we are currently in the process of selecting the most promising projects," add Mr. De Melt. "We have also identified several potential management candidates and we will be expanding our search in the upcoming weeks to ensure that we retain the individuals with the qualifications that SYMC needs in order to continue to evolve into a world class exploration company," adds Mr. De Melt.
Mr. De Melt has held management positions with 12 mining companies internationally and was instrumental in starting and building six mines, including Gulf Oil's Rabbit Lake mine (uranium), Syncrude mine (oil sands), Denison's Quintette Mine (coal), Homestake's Golden Bear Mine (gold), BHP's Etaki mine (diamonds), and Goldust's Croiner mine (gold). Mr. De Melt is currently the Executive Chairman of Grenville Gold Corp., and a director and Chief Operating Officer ("COO") of International PBX. He is also director of several public and private mining companies, including Acero-Martin Exploration Inc., and Canadian Shield Resources Inc. Mr. De Melt was also a director of Vena Resources Inc. and Norsemont Mining Inc. Mr. De Melt is well known within the mining industry and has nearly 30 years of project management and mine development experience.
On behalf of the Board of Directors,
Signed Jeremy Linke, Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
SYMC Director and Founder A. David Long
September 7, 2007 - SYMC Resources Limited ("SYMC" or the "Company") is sad to announce that Mr. A. David Long, a founding Director of the Company, passed away on Thursday, August 30, 2007.
Mr. Long resigned from the Board on August 17, 2007 after helping to list the Company on the TSX Venture Exchange and acting as the CFO of the Company for several years. Mr. Long was a Director of the Company since 1981.
Mr. Long's strategic planning and guidance helped to advance the Company's projects and ensure that the Company maintained good corporate governance at all times.
"David's guidance, attention to details and wit will be missed in the Boardroom." Commented Len De Melt, President of SYMC.
The Company's Board passes on their most sincere condolences to Mr. Long's family.
The family has requested that, in lieu of flowers, donations be sent to the Canadian Cancer Society (BC Division). Such donations can be made in Mr. Long's name.
On behalf of the Board of Directors,
Signed: "Len De Melt"
Len De Melt, President
For further information contact:
Mark T. Brown, CFO
(604) 687-3520
or
Jeremy Link, Director
(416) 587-5465
G4G Receives Exchange Approval for Name Change and Consolidation of Shares
VANCOUVER, BRITISH COLUMBIA - Oct. 15, 2007 - G4G Resources Ltd. (formerly SYMC Resources Limited, "G4G" or the "Company") (TSX-V: GXG) announces that it received TSX Venture Exchange's approval on October 12, 2007 to change its name and to consolidate its outstanding share capital on the basis of one new share for two existing shares held.
Effective on October 12, 2007, the Company's name is changed to "G4G Resources Ltd." and will be trading under its new symbol of "GXG" commencing October 15, 2007.
Post consolidation, the Company has 9,112,621 common shares issued and outstanding.
On behalf of the Board of Directors,
Mark T. Brown, Director and CFO
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
For More Information Contact:
Mark T. Brown
G4G Resources Ltd.
CFO
Tel: (604) 687-3520
Fax: (604) 688-3392
Jeremy Link
G4G Resources Ltd.
Director
Tel: (416) 587-5465
G4G Arranges Financing
VANCOUVER, BRITISH COLUMBIA - Nov. 14, 2007 - G4G Resources Ltd. ("G4G" or the "Company") (TSX-V: GXG) announces that it has arranged a non-brokered private placement of up to 4 million Units at a price of $.125 per Unit for gross proceeds of $500,000.
The net proceeds from this financing will be used for general corporate purposes, for various holding costs of the Company's MacTush Project, and to review new projects.
Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.45 per share for a period of 24 months from closing of the offering.
The offering is subject to various approvals, including that of the TSX Venture Exchange.
On behalf of the Board of Directors,
Mark T. Brown, Director and CFO
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
For More Information Please Contact:
Mark T. Brown
G4G Resources Ltd.
CFO
Tel: (604) 687-3520
Fax: (604) 688-3392
Jeremy Link
G4G Resources Ltd.
Director
Tel: (416) 587-5465
G4G Closes Financing for $500,000
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 3, 2008) - G4G Resources Ltd. ("G4G" or the "Company") (TSX VENTURE:GXG) announces that it closed a non-brokered private placement of 4,000,000 Units at a price of $0.125 per Unit for gross proceeds of $500,000.
The net proceeds from this financing will be used for general corporate purposes, for various holding costs of the Company's MacTush Project, and to review new projects.
Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.45 per share for a period of 24 months from closing of the offering. Insider participation in this private placement was for 420,000 Units. The common shares issued under the private placement are subject to a four-month hold period expiring on April 28, 2008 in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.
The offering is subject to the final approval of the TSX Venture Exchange.
The Company is also pleased to announce the appointment of Mr. Basil Botha as Director. Mr. Botha has more than 30 years of experience in the exploration and mining industry, including executive positions in mergers and acquisitions, finance, operations and marketing.
On behalf of the Board of Directors,
Mark T. Brown, Director and CFO
Contact:
Mark T. Brown
G4G Resources Ltd.
CFO
(604) 687-3520
(604) 688-3392 (FAX)
Jeremy Link
G4G Resources Ltd.
Director
(416) 587-5465
G4G Appoints New President and CEO
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2008) - G4G Resources Ltd. ("G4G") (TSX VENTURE:GXG) today announced the appointment of Mr. Peter Arendt, P. Eng. as Director, President and CEO, of the Company.
Mr. Arendt is a senior mining professional with over 20 years of industry experience in the areas of exploration, mine operations, engineering, logistics and marketing. He is a Professional Engineer and holds a Bachelor of Engineering (Mining) degree and a Graduate Diploma in Business.
The Board of Directors would like to thank Mr. Len De Melt who has played a key role in assisting G4G to focus on new projects and re-position itself under the name G4G Resources Ltd. Mr. De Melt has stepped down as President and CEO and from the Board.
Forward-Looking Statements
This document may contain or refer to forward looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration programs and the impact on the Company of the appointment. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
On behalf of the Board of Directors,
Mark T. Brown, Director and CFO
Contact:
Mark T. Brown
G4G Resources Ltd.
CFO
(604) 687-3520
(604) 688-3392 (FAX)
G4G Resources Signs Agreement to Partner With Iron Mineral Beneficiation Services (IMBS)
Vancouver, B.C., March 3, 2008 -- G4G Resources Ltd (TSX-V: GXG) today announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt™ technology, a process which converts superfine iron ore into high quality iron units. G4G Resources is also exploring the possibility of expanding the relationship through the acquisition of equity in IMBS.
The Finesmelt™ process manufactures metallic iron units for use in traditional blast and electric arc furnaces. Benefits of this technology include:
- Low capital cost
- Capacity to process iron ore waste dumps and tailings
- Ability to process superfine iron ore
- Ability to generate up to 85% of electricity requirements
- Substantial savings in production costs
- Modular design allows ease of deployment and structured scalability
IMBS is a South African based company that manufactures iron units for sale to the iron and steel industry utilizing their Finesmelt™ technology. Utilizing this unique beneficiation process, G4G Resources intends to enter into joint venture partnerships to produce iron ore units in various regions, including North America, South America and Europe.
“Due to the high demand for scrap materials used in the production of commercial iron and steel, supply of alternative iron units is critical to meet the demands of the steel industry. The Finesmelt™ process has the potential to deliver iron units well below average costs and will play a major role in supplying high quality feed stock to the steel industry throughout the world,” commented Peter Arendt, President and Chief Executive Officer of G4G Resources Ltd.
“This is an exciting strategic development that will give G4G the opportunity to generate cash flow.” said John Beachy Head, Chief Executive Officer of IMBS. “We are excited that G4G will bring significant resource to IMBS’ business, which is closely aligned with our global roll out strategy.”
IMBS and the Industrial Development Corporation (South Africa) will build the first commercial scale plant using Finesmelt™ beneficiation technology. The plant will be located in Nigel, Gauteng, South Africa and aims to produce 48,000 tonnes of Hot Briquetted Iron ("HBI") and 24,000 tonnes of ferrochrome per year, commencing in January 2009. Thereafter, a larger scale production plant with an initial capacity to produce a minimum of 500,000 tons of iron units per year will be commissioned in partnership with a large iron ore producer. (See Industrial Development Corporation press release via the following link http://idc.mbendi.com/a_sndmsg/news_view.asp?PG=123&I=89942)
With the MOU in hand, G4G Resources will now proceed to the next step of the project, which will include initiating a scoping study on the economic viability of a Finesmelt™ project.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on base metal projects. The Company is actively evaluating a number of partnership and acquisition opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on May 1, 2007.
For more information contact:
Peter Arendt, President and CEO
G4G Resources Ltd.
Tel: 778-834-1715
Email:
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Strengthens Board of Directors
Vancouver, B.C., March 19, 2008 -- G4G Resources Ltd (TSX-V: GXG) is pleased to announce the addition of Mr. Paul McNaughton, Dr. Peter Pollard and Mr. Tony Wonnacott to the Board of Directors.
Mr. Paul McNaughton has been appointed as an independent director to the board. Mr. McNaughton has over 25 years in the South African coal industry as marketer and trader, beginning with Transvaal Coal Owners Association and later moving on to co-establish Reef Coal Mining, a South African coal mining and trading company, which was sold to MacPhail Ltd in 1988. Mr. McNaughton currently operates a financial consultancy business and has developed many relationships in the South African business community. Over the past few years, Mr. McNaughton has served as a consultant on coal related projects on behalf of investors, the most recent of which has been the IMBS project. Mr. McNaughton holds a B.A. and MBA from Stellenbosch University, South Africa.
Dr. Peter Pollard has over 20 years experience as a consultant in project generation and evaluation principally in iron-oxide copper-gold and porphyry copper-gold deposits worldwide and has published over 55 papers on aspects of copper-gold, tin-tungsten and rare-metal mineralization. He holds Bachelor of Science (Hons) and PhD degrees in geology from James Cook University, Australia and is a member of the Australasian Institute of Mining and Metallurgy and a Fellow of the Society of Economic Geologists. Peter is also a non-executive director of Journey Resources Corporation and Hunter Bay Minerals plc.
G4G Resources is also pleased to announce the appointment of Mr. Tony Wonnacott to the position of Chairman of the Board of Directors. Mr. Wonnacott is a corporate securities lawyer who has been called to the Ontario Bar, completed the Canadian Securities Course, and holds a Bachelor of Commerce (cum laude) and a Bachelor of Law degree. Mr. Wonnacott brings significant experience in the natural resource sector having provided services to a number of publicly listed resource companies, including Desert Sun Mining Corp. Tony has also served as an associate in the corporate finance department at McMillan Binch, LLP.
“The addition of Paul McNaughton, Peter Pollard and Tony Wonnacott to the Board of Directors is a great step forward,” stated Peter Arendt, President and Chief Executive Officer of G4G Resources Ltd. “The experience that these individuals bring to G4G Resources will prove to be invaluable as the company advances its joint venture with Iron Mineral Beneficiation Services (IMBS) and begins to identify, evaluate and enter into, additional joint venture partnerships to produce iron ore units in various regions, including North America, South America and Europe.”
The appointment of Mr. Wonnacott to Chairman of the Board of Directors follows the resignation of interim Chairman, Basil Botha, who has been retained by the company to act as a Special Advisor to the Board. In addition, Herbert McMaster has resigned as Vice President of G4G Resources’ Vancouver Island Project, however, Mr. McMaster will continue with the company as Project Manager, Port Alberni.
The appointment of Mr. McNaughton and Mr. Pollard as members of the Board of Directors follows the resignation of Mr. Jeremy Link and Mr. Craig Williams, who resigned to pursue other business opportunities. The company would like to express appreciation for the efforts that Mr. Link and Mr. Williams put forth in re-positioning G4G Resources to a development company focused on iron production.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore projects. The company recently (see press release dated March 3, 2008) announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt(TM) technology, a process which converts superfine iron ore into high quality iron units. In addition, G4G is actively evaluating a number of strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 30, 2007.
For more information contact:
Peter Arendt, President and CEO
Tel: 778-834-1715
Email:
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
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G4G Resources Enters Joint-Venture Agreement on Iron-Oxide Copper-Gold Properties in Sweden
Vancouver, B.C., March 31, 2008 -- G4G Resources Ltd (TSX-V: GXG) (“G4G”) and Teck Cominco Limited’s wholly owned subsidiary TCL Sweden Ltd. (“TCL Sweden”) today announced the formation of a joint-venture agreement on eight properties in the highly prospective Norrbotten District of Sweden. The properties are located approximately 35 km east and southeast of the world-class Kiruna iron ore deposit.
The Norrbotten District is a world-class iron ore mining district and known throughout the world for its potential to host iron-oxide copper-gold systems. Mining in the district began during the 17th century. Kiruna and Malmberget are operating iron ore mines within the district, which have historically produced over 1.4 billion tonnes with grades of over 60% iron. (Mining Journal special publication February 2005.)
“The Swedish Government is open to investors in mining and exploration, following the introduction of the present Minerals Act (1992), which has facilitated exploration and licensing with the ultimate objective of opening more mines,” stated Peter Arendt, President and Chief Executive Officer of G4G Resources Ltd. “The Board and management of G4G consider Sweden to be one of the most progressive mining countries in the world and a good place to be doing business. The joint venture with TCL Sweden fits in perfectly with the iron ore development initiatives that G4G has undertaken.”
The agreement between G4G and TCL Sweden, which remains subject to regulatory approval, provides G4G the ability to earn a 100% interest in the specified properties by incurring US$5,000,000 in work expenditures on the properties within the next four years, with US$750,000 to be incurred on or before March 31, 2009. In addition, G4G would be required to issue TCL Sweden a total of 1,500,000 shares and 750,000 warrants, with 1,000,000 shares and 500,000 warrants to be issued upon receipt of regulatory approval for the Agreement. To maintain the option to earn the 100% interest in the properties, G4G would be required to issue the remaining shares and warrants on or before March 31, 2009. The warrants issued to TCL Sweden would be valid for two years from the date of issue and would have an exercise price of $0.50 in the case of the initial issuance of 500,000 warrants and an exercise price equal to the greater of (i) $0.50; or (ii) 135% of the average closing price of G4G’s common shares for the 10-day period prior to the date of issuance for the remaining 250,000 warrants. All shares and warrants issued to TCL Sweden would be subject to a 4-month regulatory hold period from the date of issue. TCL Sweden also retains the right to earn back up to 60% in one or more of the mineral properties.
In addition, G4G has granted options to purchase 1,250,000 common shares of G4G at an exercise price of $0.335 and valid for a period of five years to directors, officers and consultants of G4G, subject to regulatory approval.
About G4G Resources
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on base metal projects. The Company recently (see press release dated March 3, 2008) announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt(TM) technology, a process which converts superfine iron ore into high quality iron units. In addition, G4G is actively evaluating a number of strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 30, 2007.
For more information contact:
Peter Arendt, President and CEO
G4G Resources Ltd.
Tel: 604-648-4202
Email:
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Announces Private Placement Financing
Vancouver, B.C., April 1, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) is pleased to announce plans to complete a non-brokered private placement of up to $500,000 through the issuance of units priced at $0.25. Each unit would consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.45 until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days, the day that is the 45th day following G4G’s delivery to the holder of G4G’s notice accelerating the expiry date. The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.
G4G plans on using the proceeds from the financing for the exploration and development of the Company’s recently announced joint venture with Teck Cominco (see press release dated March 31, 2008), for identifying additional opportunities and for working capital purposes.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore projects. The company recently (see press release dated March 3, 2008) announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt™ technology, a process which converts iron ore fines into high quality iron units. On March 31, 2008, the company announced the formation of a joint venture with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for eight mineral properties in the Norrbotten iron ore mining district in Sweden. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 30, 2007.
For more information contact:
Peter Arendt, President and CEO
G4G Resources Ltd.
Tel: 604-648-4202
Email:
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources and IMBS to Host Presentations on Iron and Steel Production Technology
Vancouver, B.C., April 1, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) and Sir Sam Jonah of Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) (www.imbsworld.com) invite the financial community to attend investor presentations – titled The New Age of Iron – in Toronto and Vancouver on Tuesday, April 8th and Wednesday, April 9th, respectively.
Senior management from G4G Resources and IMBS will be on hand to discuss the Finesmelt™ technology partnership announced on March 3rd, 2008. G4G management will also discuss the recently announced joint-venture agreement that was entered into with Teck Cominco Limited’s wholly owned subsidiary TCL Sweden for eight properties in the highly prospective Norrbotten District of Sweden.
The Toronto presentation will take place on Tuesday April 8th at 4:15 p.m. at the St. Andrew’s Club (Caledonia Room) located at 150 King Street West, 27th floor. The Vancouver presentation will take place on Wednesday, April 9th at 3:30 p.m. at the Pan Pacific Hotel (Oceanview Suite 7). Investors interested in attending the presentation are asked to RSVP by April 4th to or by telephone at 416-579-8833.
Finesmelt™ Technology
Finesmelt™ technology uses proprietary patented thermo-chemical processes to produce high quality iron units. The modular design of Finesmelt™ plants offers plant sizing relative to resource availability and location.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore projects. The company recently (see press release dated March 3, 2008) announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt™ technology, a process which converts iron ore fines into high quality iron units. On March 31, 2008, the company announced the formation of a joint venture with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for eight mineral properties in the Norrbotten iron ore mining district in Sweden. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
About Iron Mineral Beneficiation Services (IMBS)
IMBS is a South African based company focused on the production of metallic iron units from HBI to pig iron. With its proprietary patented Finesmelt™ technology, IMBS is able to convert superfine iron ore into high quality iron units without agglomeration utilizing non coking coal in an environmentally friendly manner. Finesmelt™ can be applied to superfine stockpiles and tailings dams, run of mine waste and iron ore concentrate. IMBS’ business model is to form joint ventures with resource holders in various territories for the production of high quality metallic iron units.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 30, 2007.
For more information contact:
Peter Arendt, President and CEO
G4G Resources Ltd.
Tel: 604-648-4202
Email:
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Closes $650,000 Financing
Vancouver, B.C., April 28, 2008 - G4G Resources Ltd. (TSX-V:GXG) today announced that it closed a non-brokered private placement of 2,600,000 Units at a price of $0.25 per Unit for gross proceeds of $650,000.
G4G plans on using the proceeds from the financing for the exploration and development of the Company's recently announced joint venture with Teck Cominco (see press release dated March 31, 2008), for identifying additional opportunities and for working capital purposes.
Each Unit consisted of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.45 per share until the earlier of (i) April 25, 2010; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days, the day that is the 45th day following G4G’s delivery to the holder of G4G’s notice accelerating the expiry date. Insider participation in this private placement was for 360,000 Units. The common shares and warrants issued under the private placement are subject to a four-month hold period expiring on August 26, 2008 in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 3, 2008, the Company recently announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt(TM) technology, a process which converts iron ore fines into high quality iron units. On March 31, 2008, the Company announced the formation of a joint venture with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for eight mineral properties in the Norrbotten iron ore mining district of Sweden. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2006 Annual Report filed with SEDAR on April 30, 2007.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Peter Arendt
G4G Resources Ltd.
President and CEO
Tel: (604) 648-4202
Email:
Website: www.g4gresources.com
G4G Resources Announces 3,000 Metre Iron and Copper-Gold Drilling Program, Sweden
Vancouver, B.C., June 10, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) today announced plans to drill 3,000 metres during 2008, with a total expenditure of US$750,000, on properties under option from Teck Cominco Limited’s wholly owned subsidiary TCL Sweden Ltd. (“TCL Sweden”), located in the Norrbotten District of northern Sweden. (Refer to news release of March 31, 2008). Norrbotten is a world-class mining district which hosts the Kiruna and Malmberget iron ore mines.
On three of the properties under option (Masugnsbyn, Vittangi and Vathanvaara) the Geological Survey of Sweden estimates a combined resource of 134.2 million tonnes of iron ore grading between 25% and 39.7% Fe. (Note: The historical resource numbers for the properties have not been verified by a Qualified Person under NI 43-101).
The objective of the exploration program is to start to upgrade the historical iron ore resources to the NI 43-101 compliant resource category with the eventual aim of producing hot briquetted iron (HBI). G4G Resources has signed a memorandum of understanding with IMBS of South Africa to utilize the Finesmelt™ technology to produce HBI. (Refer to news release dated March 3, 2008).
“Based on the large amount of exploration work conducted over the years, the eight properties under option with TCL Sweden exhibit strong potential for the discovery of a sizeable resource,” stated Peter Arendt, President and CEO of G4G Resources Ltd. “The 2008 program is the first step to confirm the potential for a significant iron ore resource, which fits with G4G’s focus on iron ore and iron production.”
The properties targeted for drilling in 2008 are Masugnsbyn, Vittangi and Fjällåsen.
The Masugnsbyn property hosts a number of magnetite (iron oxide) occurrences. The iron ore at Masugnsbyn was discovered in 1644 and a blast furnace was built on the site soon thereafter, with iron production continuing until 1805. A number of exploration campaigns were conducted in the Masugnsbyn iron ore field from 1914 to 1970, including ground geophysical surveys and diamond drilling by the SGU from 1965 to 1970. The largest orebody reported by the SGU is quoted as 60 million tonnes of near-surface skarn iron ore at 25% to 30% Fe.
The Vittangi property includes several magnetite occurrences associated with a linear, northeast trending magnetic anomaly. Historical work conducted on Vittangi estimate resources of approximately 31.2 million tonnes with Fe content ranging from 30.5% to 36.3%. (Source: SGU) Advanced exploration conducted on other areas within Vittangi has identified occurrences of copper, lead, zinc, cobalt and nickel.
The Fjällåsen property is comprised of iron, copper and gold occurrences with coincident magnetic, gravity and Cu geochemical anomalies.
While not a drill target for 2008, the Vathanvaara property contains three magnetite occurrences which will be drilled in the future. The mineralization is associated with a north-south trending, linear magnetic feature. Historical work conducted on these prospects estimates total resources of approximately 43 million tonnes with Fe content ranging from 31.3% to 39.7%. (Source: SGU).
G4G has budgeted US$750,000 for the 2008 exploration program, which corresponds with the expenditure required for the first year under the option agreement with TCL Sweden. The program will initially focus on target definition on the Masugnsbyn, Vittangi and Fjällåsen properties this summer followed by 3,000 metres of diamond drilling in the winter. While the principal target is iron ore the Norrbotten district is also known for its potential to host iron-oxide copper-gold systems and a number of these types of targets will also be tested.
“The Board and Management of G4G continues to be enthusiastic about the Norrbotten properties and the 2008 exploration program, both from the perspective of the potential that the properties exhibit and the very positive business environment in Sweden for exploration and mine development,” continued Mr. Arendt. “The Swedish Government is highly supportive of mining and Sweden’s well-qualified workforce allows for the efficient execution of exploration projects. While G4G is focusing on iron ore exploration in 2008, the intention is to expand the program to include exploration for other minerals, including copper and gold, which occur on the other properties covered in the option agreement with TCL Sweden.”
The exploration program described in this news release is being conducted under the supervision of Mr. Christopher K. Hutchings, P. Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings has reviewed and approved the technical information contained in this news release.
Cautionary Statement
Work performed on the properties has been insufficient to classify historical estimates as current resources. Historical resource tonnage and grades for Masugnbyn, Vittangi and Vathanvaara iron occurrences have not been verified by a Qualified Person under NI 43-101 requirements. The Company, therefore, is not treating historical resource estimates as current estimates and investors are cautioned not to rely upon historical estimations.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On March 3, 2008, the Company announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Peter Arendt, President and CEO
G4G Resources Ltd.
Tel: 604-648-4202
Email:
G4G Resources and IMBS (PTY) Ltd Sign Joint Venture Agreement for the Conversion of Iron Ore Fines
Vancouver, B.C., July 7, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) and Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) announce the signing of a joint venture agreement for the use of the FinesmeltTM technology developed by IMBS. G4G will joint venture with IMBS to deploy the patented technology in North, Central and South America and by agreement in other global jurisdictions.
The basis of the joint venture agreement is for G4G to secure suitable resources and complete due diligence studies, whereby IMBS will determine the suitability of the iron ore resources through the laboratory scale FinesmeltTM test plant in South Africa. When the suitability of a resource is confirmed, G4G and IMBS will form a joint venture company on an equal participation interest and license the technology therein. All future costs and expenses will be shared equally in the preparation of a bankable feasibility study (BFS) and any and all future development costs.
“The agreement with IMBS fits very well with G4G’s strategic objectives to produce iron ore and saleable iron units. FinesmeltTM is a unique process that converts otherwise waste iron ore fines into hot briquetted iron and pig iron. The IMBS technology utilizes thermal coal in the reduction process whereas other processes use higher priced coking coal,” stated Peter Arendt, President and CEO of G4G resources Ltd. “The joint venture with IMBS is a strategic relationship which compliments G4G’s iron ore projects in Sweden and adds additional value to shareholders.”
IMBS has developed and is the beneficial owner of intellectual property for the conversion of iron ore fines and super fines (hematite and magnetite) into metallic iron units (hot briquetted iron) without agglomeration. It is the intention of G4G to acquire iron ore resources in North, Central and South America. The G4G management team is well equipped with all the necessary skills to determine the suitability and viability of these projects and bring them into production.
G4G also intends to evaluate the suitability of FinesmeltTM on iron ore from mineral properties being developed in Sweden. G4G plans to drill a total of 3,000 metres during 2008 on properties under option from Teck Cominco Limited’s wholly owned subsidiary TCL Sweden Ltd. (“TCL Sweden”), located in the Norrbotten District of northern Sweden. (Refer to news releases of March 31, 2008 and June 10, 2008). Norrbotten is a world-class mining district which hosts the Kiruna and Malmberget iron ore mines.
The Geological Survey of Sweden (SGU) estimates that three of the properties under option (Masugnsbyn, Vittangi and Vathanvaara) have a combined resource of 134.2 million tonnes of iron ore grading between 25% and 39.7% Fe. (Note: The historical resource numbers for the properties have not been verified by a Qualified Person under NI 43-101).
The largest historical resource reported by the SGU is 60 million tonnes of near surface skarn ore at 25% to 30% Fe at the Junosuando occurrence on the Masugnsbyn property. The primary objective of the 2008 exploration program is to upgrade the Junosuando resource to the NI 43-101 compliant category. Following the confirmation of the NI 43-101 resource, G4G intends to immediately begin work on evaluating the suitability of Junosuando ore as feedstock for the FinesmeltTM process, as well as associated engineering studies.
“With the iron ore resource in Sweden and the strategic partnership with IMBS, G4G has the potential to confirm a sizeable iron ore resource and produce hot briquetted iron and pig iron within a relatively short period,” continued Mr. Arendt. “This is a major objective and the Company is focusing its efforts on confirming the viability of producing iron ore and saleable iron units as quickly as possible.”
The exploration program described in this news release is being conducted under the supervision of Mr. Christopher K. Hutchings, P. Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings has reviewed and approved the technical information contained in this news release.
Cautionary Statement
Work performed on the properties has been insufficient to classify historical estimates as current resources. Historical resource tonnage and grades for Masugnbyn, Vittangi and Vathanvaara iron occurrences have not been verified by a Qualified Person under NI 43-101 requirements. The Company, therefore, is not treating historical resource estimates as current estimates and investors are cautioned not to rely upon historical estimations.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. G4G has also entered into an agreement with IMBS to establish joint venture companies which will produce high quality iron units from iron ore fines utilizing FinesmeltTM technology. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Peter Arendt, President and CEO
G4G Resources
Tel: 604-648-4202
Email:
G4G Resources Strengthens Board of Directors
Vancouver, B.C., July 10, 2008 -- G4G Resources Ltd (TSX-V: GXG) is pleased to announce that Mr. Basil Botha has joined the Board of Directors and has assumed the position as President & CEO. Mr. Botha has more than 30 years of experience in the exploration and mining industry, including executive positions in mergers and acquisitions, finance, operations and marketing.
Mr. Botha’s appointment is part of a realignment of the corporate structure in which Peter Arendt, who was formerly President and CEO, has assumed the position of Chief Operational Officer in order to focus on the development of the Company’s various operational programs and initiatives. Mr. Arendt remains on the Board of Directors.
“G4G is pleased to have Mr. Botha join the Company as a Director and President & CEO as we enter an exciting phase of strategic development,” stated Tony Wonnacott, Chairman of G4G Resources Ltd. “I also want to acknowledge the contribution that Peter Arendt has made to date, and am pleased that he remains with the Company in an executive leadership role to advance our various projects and initiatives. The experience that these individuals bring to G4G Resources will prove to be invaluable as the company develops its projects in Sweden with TCL Sweden Ltd. and joint ventures with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS), as well as other strategic partnerships.”
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On July 7, 2008, the Company announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish a joint venture to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. Additionally, G4G is evaluating a number of other strategic partnerships and growth opportunities to create and enhance shareholder value.
For more information contact:
Peter Arendt, Chief Operating Officer
Tel: 604-602-9868
Email:
Basil Botha, President & CEO
Tel: 604-602-9868
Email:
G4G Resources and Crusader Holdings Announce Strategic Partnership in Brazil
Vancouver, B.C., July 14, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) and Crusader do Brasil Mineracao Ltd, a wholly owned subsidiary of Crusader Holdings NL (ASX: CAS) (“Crusader”), today announced the formation of a strategic partnership under which the companies will work together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units.
The agreement with Crusader compliments the agreement between G4G and Iron Mineral Beneficiation Services (Pty) Ltd (“IMBS”), under which G4G and IMBS have agreed to form joint venture companies to produce saleable iron units utilising the FinesmeltTM process, a technology which is patented by IMBS. (Refer to G4G news release of July 7, 2008).
Crusader’s Managing Director, Mr. Rob Smakman, is resident in Brazil and heads up an experienced and dedicated project acquisitions team, which will keep Crusader at the forefront of new exploration ideas and acquisitions. With offices in Belo Horizonte and Joao Pessoa and several minerals projects including the Posse Iron Project located in the Iron Quadrilateral in the state of Minas Gerais, Crusader is well-established in Brazil. Crusader aims to capitalize on its growing presence in Brazil by applying innovative thinking and cutting-edge technologies to develop projects in the highly under explored Brazilian geological landscape.
“The strategic partnership with Crusader do Brasil is a very important step towards securing iron ore fines in Brazil, a country which is one of the largest iron ore miners and iron and steel producers in the world,” stated Peter Arendt, Chief Operating Officer of G4G Resources Ltd. “The main focus of G4G and Crusader is to source iron ore fines as feedstock for iron production plants which will be built and operated under joint ventures with our technology partners.”
Under the terms of the agreement, Crusader’s personnel in Brazil will work on behalf of the partnership to identify iron ore fines resources suitable for the production of iron units, and Crusader and G4G will be equal partners with respect to any resource which is acquired. Crusader will be free carried through to the completion of a scoping study on any resource after which all expenditure will be borne by each party according to their interest in the project.
Crusader’s Posse Iron Project falls outside the scope of the agreement with G4G, and Crusader will continue the development of Posse independently.
“The separate agreements that G4G has with Crusader and IMBS compliment each other very well,” continued Mr. Arendt. “G4G is currently engaged in a number of negotiations to acquire iron ore fines from which to produce iron units, and our plan is to finalise acquisitions as soon as possible.”
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On July 7, 2008, the Company announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish a joint venture to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. Additionally, G4G is evaluating a number of other strategic partnerships and growth opportunities to create and enhance shareholder value.
About Crusader
Crusader Holdings NL (ASX:CAS) (Crusader) is a minerals exploration company focused on the identification, acquisition and development of projects in Brazil. The company has a diverse portfolio of projects including iron ore, tin, gold and uranium. Crusader applies leading edge exploration skills to the discovery of new assets and continues to utilise its strong networks in Brazil to identify new opportunities. The company’s most mature project is the Posse Iron Project which is located in the Iron Quadrilateral in the state of Minas Gerais, 30km from the regional capital and iron ore mining centre of Belo Horizonte. Crusader is now working through a scoping study on the project. In Australia, Crusader retains a portfolio of projects prospective for palaeochannel uranium and Archaean gold and nickel.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Peter Arendt, Chief Operating Officer
G4G Resources Ltd.
Tel: 1-604-602-9868
Email:
Robert Smakman
Crusader Holdings NL
Tel: 55-83-3227-0589
Email:
G4G Resources Announces Update on Iron Ore Exploration in Sweden
Vancouver, B.C., August 5, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) today approved an additional US$350,000 for the 2008 drill program in Sweden. This brings the total expenditure to US$1.1 million to drill 3,000 metres and will upgrade the historical iron ore resource at the Junosuando occurrence at the Masugnsbyn project area to the measured resource category under NI 43-101. The historical resource at Junosuando reported by the Geological Survey of Sweden is 60 million tonnes grading between 25% and 30.7%.
There are eight properties under option from Teck Cominco Limited’s wholly owned subsidiary TCL Sweden Ltd. (“TCL Sweden”), located in the Norrbotten District of northern Sweden. On three of the project areas under option (Masugnsbyn, Vittangi and Vathanvaara), the Geological Survey of Sweden estimates a combined resource of 134.2 million tonnes of iron ore grading between 25% and 39.7% Fe. (Note: The historical resource numbers for the properties have not been verified by a Qualified Person under NI 43-101). (Refer to news release of June 10, 2008). Norrbotten is a world-class mining district which hosts the Kiruna and Malmberget iron ore mines.
It is anticipated that the drill program will commence by early October, 2008 and will be completed by the end of January, 2009. The first set of drill results will be released in early January 2009. G4G has engaged the services of Suomen Malmi Oy to conduct the drilling on the Masugnsbyn and Fjällåsen properties.
“Not only is Sweden an exciting and mining friendly country to be working in, but the fact that one can work in most parts of the country all year round is a real bonus,” stated Basil Botha, President & CEO of G4G Resources Ltd. “Logistically, Sweden has excellent infrastructure, whereby all the properties can be accessed by existing roads. Coupled with an excellent work force in Sweden, this gives management a great deal of confidence in the 2008/2009 drill program. The objective is clear; management is looking to bring the historical resources under the option agreement with TCL Sweden into the NI 43-101 compliant category.”
Prelimanary assessment of the historic drill core and location of original drill collars is being undertaken by Dr. Damien Foster, Senior Project Geologist for G4G. Mr. Christopher K. Hutchings, P. Geo., is the qualified person for the program and will be in Sweden during August, 2008 to begin the assessment work in order to upgrade the resource into the measured category under NI 43-101.
The exploration program described in this news release is being conducted under the supervision of Mr. Christopher K. Hutchings, P. Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings has reviewed and approved the technical information contained in this news release.
Cautionary Statement
Work performed on the properties has been insufficient to classify historical estimates as current resources. Historical resource tonnage and grades for Masugnbyn, Vittangi and Vathanvaara iron occurrences have not been verified by a Qualified Person under NI 43-101 requirements. The Company, therefore, is not treating historical resource estimates as current estimates and investors are cautioned not to rely upon historical estimations.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On July 7, 2008, the Company announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish joint ventures to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. On July 14, 2008, the company announced the formation of a strategic partnership Crusader do Brasil Mineracao Ltda., a wholly owned subsidiary of Crusader Holdings NL, under which the companies will work together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Peter Arendt, Chief Operating Officer
G4G Resources Ltd.
Tel: 604-602-9868
Email:
G4G Resources and University of Witwatersrand (Johannesburg) Sign Agreement
Vancouver, B.C., Wednesday August 13th, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) and University of Witwatersrand, Johannesburg, South Africa (“Wits”) announce the signing of a memorandum of understanding (MOU) to work towards setting up a joint venture company which will commercialize the syngas to liquids production process that has been developed by the Centre of Materials and Process Synthesis (COMPS) situated at The University of Witwatersrand.
COMPS has developed syngas to liquids demonstration and pilot plants in Australia and China.
The basis of the memorandum of understanding is for the parties to work together to:
- Market Gas-To-Liquids (“GTL”) production processes using the Fischer Tropsch (“FT”) technology developed by COMPS to suitable joint venture partners world wide;
- Secure and develop in house natural gas, coal, biomass and municipal waste assets using the COMPS technology;
- Provide access to skills and personnel required to complete projects; and
- Complete an exclusive definitive agreement for future projects with Wits by November 14th 2008
“In many countries there is governmental concern over self sustainability of liquid fuels. As a result, there is increasing worldwide interest in technology that will produce fuels that are more environmentally friendly and reduces the dependence on oil. Above all, and most immediately, we face the end of the cheap fossil fuel era and the memorandum of understanding with Wits presents G4G with a unique opportunity to produce ultra-clean liquid transportation fuel like diesel, jet fuel and gasoline.” said Basil Botha, President and CEO of G4G Resources Ltd. “We also welcome the opportunity to work with a team of scientists who are among the most accomplished in the world in this field. This joint venture with Wits is a strategic relationship for G4G and adds a great deal of value to shareholders.”
The COMPS technology is a new generation of the Fischer Tropsch technology. It can be applied to Gas-To-Liquid (GTL), Coal-To-Liquid (CTL) as well as Biomass-To-Liquid (BTL), which includes municipal waste. The technology offers reduced CO2 emissions, reduced capital and operating costs, as well as simplicity of operation and ease of scalability and is sufficiently environmentally friendly to earn carbon credits. Another advantage of this technology over conventional technologies is the modularity of the design. Smaller production units can be put up in a much shorter period of time with just a fraction of the total investment costs to start generating return on the investment once the first module is operational. The fuels produced are cleaner burning as they contain no sulphur, no particulate matter, no aromatics and no nitrous compounds.
Conference Call Details
Date: Thursday, August 14, 2008
Time: 11 a.m. (Eastern Time)
Dial-In Numbers: (416) 641-2140 or toll-free 1 (800) 952-4972
G4G Resources Ltd. will also host a live audio webcast. The direct link to the webcast is http://events.onlinebroadcasting.com/g4gresources/081408/index.php. The webcast will also be available via the G4G Resources website at www.g4gresources.com.
A replay of the conference call will be available until 11:59 p.m. (Eastern Time) on Thursday, August 28, 2008, by dialing (416) 695-5800 or toll-free 1 (800) 408-3053 using passcode 3268734.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On July 7, 2008, the Company announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish joint ventures to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. On July 14, 2008, the company announced the formation of a strategic partnership with Crusader do Brasil Mineracao Ltda., a wholly owned subsidiary of Crusader Holdings NL, under which the companies will work together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
About COMPS
COMPS is a research and consulting group within the University of the Witwatersrand and was founded in order to promote links between industry and the process synthesis research being conducted at the University. COMPS has established a strong international reputation for creative work and has achieved outstanding academic excellence as a result of their joint work in process synthesis.
History of the Fischer Tropsch Process
The Fischer Tropsch technology (“FT”) was originally discovered in the 1920’s by German scientists and by 1938 Germany was running nine industrial plants which produced fuel from coal. In the 1950s, the South African Coal Oil and Gas Corporation (SASOL) commissioned an FT plant based on coal in Sasolburg, South Africa. Research on FT has continued ever since at SASOL. Due to the oil crisis of the mid 1970s SASOL constructed two much larger coal-based FT plants which came on-line in 1980 and 1982 respectively. These two plants produce approximately 160,000 bbl/day of fuel which supplies 28% of South Africa’s fuel requirements. Further commercial ventures, which have used natural gas as a feedstock, include Shell’s plant in Malaysia and PetroSA plant in South Africa. In the last few years the interest for FT has grown significantly due to the increase in as well as the high demand for energy. Recent commercial ventures include the development of Gas-To-Liquids (“GTL”) plant, Oryx GTL, in a joint venture of SASOL with Qatar Petroleum at Ras Laffan in Qatar.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha,
President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
G4G Resources and University of Witwatersrand Conference Call Audio Playback
Visit http://events.onlinebroadcasting.com/g4gresources/081408/index.php to listen to the conference call audio playback.
G4G Resources Enters Iron Catalyst Market by Acquiring 51% Interest in Magnetite Holdings (Pty) Ltd
Vancouver, B.C., August 25, 2008 -- G4G Resources Ltd (TSX-V: GXG) (“G4G”) and Magnetite Holdings SA (Pty) Ltd (“Magnetite Holdings”) today announced that they have entered into an agreement which will allow G4G to acquire a 51% interest in Magnetite Holdings. Magnetite Holdings is a South African-based company with iron ore assets in Namibia.
Initial work has been completed by Magnetite Holdings to produce a chemical grade iron catalyst for sale to coal, gas and biomass converters which currently use the Fischer Tropsch (FT) process to produce ultra-clean diesel and gasoline. The most notable users of this particular iron catalyst are Sasol Ltd. of South Africa and other alternative fuel producers using the FT process.
“Chemical catalysts that break fossil fuels into their molecular parts result in higher rates of production efficiency and more environmentally friendly fuels is a multi billion dollar business,” said Basil Botha, President & CEO of G4G Resources Ltd. “Although catalysts have always been essential in the chemical industry, advances in catalyst technology have the potential to revolutionize the fossil fuels market. Governments who chose to adapt to these new technologies will have more control over their own political and economic destinies,” Botha continued.
Catalysts in combination with the Fischer Tropsch process have the potential to:
- Allow remote regions of the world to become less dependent on foreign oil by producing liquid and gas fuels from coal.
- Allow economical production from stranded gas fields, which accounts for a large proportion of the world’s known gas reserves.
- Free countries with large coal resources, like China and the US, from dependence on foreign oil.
- Reduce emissions of pollutants like nitrogen oxides, sulphur dioxide and other particulate matter.
- Promote waste recycling through conversion of plastic, rubber, municipal waste and waste oil to clean fuels.
Magnetite Holdings has an 80% equity holding in Namibian Magnetite (Pty) Ltd. In consideration for a US$20,000 cash payment, Magnetite Holdings will grant G4G an exclusivity period of sixty days, in which G4G may conduct due diligence on the iron ore assets.
Following a positive outcome from the due diligence evaluation, G4G can exercise its option to spend US$480,000 over a 12-month period to expand the current resource and obtain NI 43-101 status of the assets.
Following completion of the option to expand the current resource and the completion of a bankable feasibility study, G4G will acquire a 51% interest in Magnetite Holdings. Upon exercising this option, Magnetite Holdings will be entitled to put its shares into G4G in consideration for a gross royalty of 2% of revenue or a payment by G4G to Magnetite Holdings of US$2,000,000 that shall be satisfied, at the sole option of G4G, through a cash payment of issuance of the common shares of G4G with a value of US$2,000,000 calculated using the (5) five day weighted average closing price of the common shares of G4G for the (5) days prior to the date of issuance. The final agreement with Magnetite Holdings is subject to regulatory approval.
“This acquisition fits well with the G4G model to acquire iron ore assets in countries where there is good infrastructure. It will also give us the potential to expand the current resource with the potential to use the FinesmeltTM iron ore reduction process to produce hot briquetted iron and pig iron for sale to the South African steel industry. Our immediate intention is to drill the current historical resource to the NI 43-101 compliant resource category. This will immediately be followed by a bankable feasibility study,” stated Basil Botha.
Under the terms of the agreement between G4G and Magnetite Holdings, each party will have the right to appoint two Directors to the Board of Namibian Magnetite. Following exercising of the second option, G4G will have the right to appoint one further Director as the Chairman of the Board of Directors.
The iron ore property is well located 40 kilometres south of Namibia’s capital city of Windhoek. The ore body is of sedimentary origin and is mainly silicates, magnetite and specularite iron. The deposit is accessible by road and water, and power is readily available. The potential for an open-pit operation exists, and operations can be conducted year round. The potential also exits to add further mineral claims to the current land position.
History of the Fischer Tropsch Process
The Fischer Tropsch technology (“FT”) was originally discovered in the 1920s by German scientists and by 1938 Germany was running nine industrial plants which produced fuel from coal. In the 1950s, the South African Coal Oil and Gas Corporation (SASOL) commissioned an FT plant based on coal in Sasolburg, South Africa. Research on FT has continued ever since at SASOL. Due to the oil crisis of the mid 1970s, SASOL constructed two much larger coal-based FT plants which came on-line in 1980 and 1982 respectively. These two plants produce approximately 160,000 bbl/day of fuel which supplies 28% of South Africa’s fuel requirements. Further commercial ventures, which have used natural gas as a feedstock include Shell’s plant in Malaysia and PetroSA’s plant in South Africa. In the last few years the interest for FT has grown significantly due to the increase in the demand for energy. Recent commercial ventures include the development of Gas-To-Liquids (“GTL”) plant, Oryx GTL, in a joint venture of SASOL with Qatar Petroleum at Ras Laffan in Qatar.
About G4G Resources Ltd
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On July 7, 2008, the Company announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish joint ventures to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. On July 14, 2008, the company announced the formation of a strategic partnership with Crusader do Brasil Mineracao Ltda., a wholly owned subsidiary of Crusader Holdings NL, under which the companies will work together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units. A further area of focus is the alternative fuels arena utilizing the Fischer Tropsch (FT) process to convert gas, coal and biomass to liquid fuels. On August 13, 2008 G4G signed a memorandum of understanding with the University of Witwatersrand, Johannesburg, South Africa (“Wits”) to work towards setting up a joint venture company which will commercialize the syngas to liquids production process that has been developed by the Centre of Materials and Process Synthesis (COMPS) situated at The University of Witwatersrand. The agreement is for the exclusive world wide rights to the FT technology developed by COMPS. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Peter Arendt, Chief Operating Officer
G4G Resources Ltd
Tel: 604-602-9868
Email:
G4G Resources Forms Subsidiary Company to Produce Ultra-Clean Transportation Fuels
Vancouver, B.C., Thursday, September 4th, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) announced the incorporation of a wholly owned subsidiary; Alternative Fuels Corporation (“AFC”).
AFC will work towards producing synthetic fuels from municipal waste and stranded natural gas using the new generation Fischer Tropsch technology developed by the Centre of Materials and Process Synthesis (COMPS) situated at The University of Witwatersrand in Johannesburg (“Wits”). The COMPS team has developed pilot plants for Linc Energy, Australia and Golden Nest, China.
Initially AFC will focus on opportunities where the ability to operate smaller scale plants will give it a competitive advantage and the opportunity to capitalize on underutilized hydrocarbon assets.
The Wits COMPS technology will enable AFC to compete with the following advantages:
- Lower capital cost than traditional Fischer Tropsch plants
- Quicker start-up due to smaller scale and modularity
- Rapid scalability
- Significantly lower CO2 output
- Lower requirements for water
- Produce cleaner burning fuel that is sulphur and particulate free and has no aromatics
“AFC has been incorporated to provide solutions to the current energy crisis the world finds itself in. Emerging nations require more energy and liquid fuels for transportation every day, but less oil is being produced and new discoveries are unlikely to keep up with rising demand. As the world comes to grips with peak oil, we expect prices at the pump to continue to rise,” said Basil Botha President and CEO of G4G Resources. “There is no single answer to the crisis and that the world will have to explore many solutions to avoid this crisis.”
The Fischer Tropsch process was invented in Germany in the 1920s, was utilised to produce liquid fuels on a large scale in the 1930s and 1940s, and has been successfully used since 1955 to provide South Africa with nearly 30% of its liquid fuels.”
“The problem with the traditional Fischer Tropsch process is it is expensive, produces large volumes of carbon dioxide and requires investors with very deep pockets,” continued Mr. Botha. “But now that has changed. The advanced Fischer Tropsch process developed by Wits COMPS has given Fischer Tropsch a new lease of life. The team of talented chemical engineers has found several ways to improve the process so that getting started only costs a fraction of traditional plants due to the modular design. Once the plants are constructed and operating, they can be quickly scaled up by simply adding additional modules, resulting in increased production capacity. This new application of Fischer Tropsch technology produces approximately 30% less carbon dioxide and may qualify for carbon credits. With biomass, the process may have the potential to be carbon neutral. The feedstock can be as varied as municipal waste, old tires, natural gas, flared gas from oil wells or coal, but more importantly the fuel produced is free of sulfur, particulates and nitrous compounds.”
It is AFC’s intention to joint venture with partners who have access to stranded gas assets and municipal waste dumps in stable countries where energy security is paramount. The actual economic viability of any projects will be determined by future feasibility studies.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore, iron production and alternative fuels.
On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden.
On July 7, 2008, G4G announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish joint ventures to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units.
On July 14, 2008, the Company announced the formation of a strategic partnership with Crusader do Brasil Mineracao Ltda., a wholly owned subsidiary of Crusader Holdings NL, under which the companies will work together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units.
On August 13th, 2008 G4G announced the signing of a memorandum of understanding (MOU) with University of Witwatersrand, Johannesburg, South Africa (“Wits”) to work towards setting up a joint venture company which will commercialize the syngas to liquids production process that has been developed by the Centre of Materials and Process Synthesis (COMPS) situated at The University of Witwatersrand.
On August 25, 2008 the Company announced an agreement with Magnetite Holdings SA (Pty) Ltd (“Magnetite Holdings”) which will allow the Company to acquire a 51% interest in Magnetite Holdings, a South African-based company with iron ore assets in Namibia. Initial work has been completed by Magnetite Holdings to produce a chemical grade iron catalyst for sale to coal, gas and biomass converters using the Fischer Tropsch (FT) process to produce ultra-clean diesel and gasoline.
About COMPS
COMPS is a research and consulting group within the University of the Witwatersrand and was founded in order to promote links between industry and the process synthesis research being conducted at the University. COMPS has established a strong international reputation for creative work and has achieved outstanding academic excellence as a result of their joint work in process synthesis.
History of the Fischer Tropsch Process
The Fischer Tropsch technology (“FT”) was originally discovered in the 1920s by German scientists and by 1938 Germany was running nine industrial plants which produced fuel from coal. In the 1950s, the South African Coal Oil and Gas Corporation (SASOL) commissioned an FT plant based on coal in Sasolburg, South Africa. Research on FT has continued ever since at SASOL. Due to the oil crisis of the mid 1970s SASOL constructed two much larger coal-based FT plants which came on-line in 1980 and 1982 respectively. These two plants produce approximately 160,000 bbl/day of fuel which supplies 28% of South Africa’s fuel requirements. Further commercial ventures, which have used natural gas as a feedstock, include Shell’s plant in Malaysia and PetroSA plant in South Africa. In the last few years the interest for FT has grown significantly due to the increase in as well as the high demand for energy. Recent commercial ventures include the development of Gas-To-Liquids (“GTL”) plant, Oryx GTL, in a joint venture of SASOL with Qatar Petroleum at Ras Laffan in Qatar.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Green House Gas Blog’s Interview with Michael Hepworth
Posted by ghgblog on 9 September, 2008
GHGblog is interviewing Michael Hepworth, the VP of Business Development for Alternative Fuels Corporation in Toronto, Canada. Alternative Fuels Corporation, (a G4G Resources Company TSX-V: GXG), is dedicated to converting natural gas, biomass and ultimately coal to cleaner and greener and more reliable synthetic gasoline, diesel and jet fuel.
The technology has been developed by The Centre of Materials and Process Synthesis at the University of Witwatersrand in South Africa, (Wits COMPS), is a new generation of Fischer Tropsch Technology. This technology can be applied in both Gas to Liquid (GTL), Coal to Liquid (CTL) as well as Biomass to Liquids (BTL). The technology offers reduced CO2 emissions, reduced capital and operating costs as well as simplicity of operation and ease of scalability.
Q1: GHGblog.com: Could you explain how the technology converts hydrocarbons in this case municipal waste and stranded natural gas to liquid fuels?
The Fischer-Tropsch (FT) Process converts a mixture of carbon monoxide (CO) and hydrogen (H2) to hydrocarbons. The carbon monoxide and hydrogen mixture (referred to as synthesis gas) can be obtained from coal, natural gas or biomass. Synthesis gas is versatile in that it can be used to produce not only hydrocarbons (mainly liquid fuels) but electricity and other chemicals (methanol, ammonia) as well.
The Fischer Tropsch reaction takes place in the presence of a catalyst, usually iron or cobalt. The temperature, pressure and catalyst determine the range of product. Fischer Tropsch can be operated in two modes: high-temperature (300 -350°C) process with iron-based catalysts or low-temperature (200 - 240°C) process with either iron or cobalt catalysts.
Q2: GHGblog.com: What are the main uses of the liquid fuels?
Right now there is no commercially viable alternative for liquid fuels in the transportation sector.
The Fischer Tropsch process produces high value, clean-burning fuels. FT fuels can be used in conventional engines with no modification and have improved combustion which reduces emissions. The resulting fuels are colorless, odorless and low in toxicity. FT fuels have less sulphur, nitrogen oxide, carbon monoxide and particulate matter emissions than petroleum fuels.
Markets of particular interest are fuels for diesel engines and jet fuels.
Q3: GHGblog.com: How do you see your technology reducing GHG emissions?
Our technology offers reduced CO2 emissions, reduced capital and operating costs as well as simplicity of operation and ease of scalability.
This design is the result of an application of the process synthesis and optimization methods developed at COMPS and collaboration with other world leaders in the field. These methods were used to identify and systemically reduce or eliminate the inefficiency present in the process. Much of the CO2 produced in traditional FT plants is as a result of process inefficiencies. This technology enables us to smaller build plants that can handle municipal waste and biomass. With biomass it is possible that our plants will be carbon neutral.
Q4: GHGblog.com: Have you thought about, which carbon credit markets this technology would be suited to?
We have yet to investigate this aspect of the business, but it is our intention to take full advantage of this opportunity to build plants that qualify for carbon credits.
The opportunities we are actively seeking are joint ventures with project owners who have access to large amounts of municipal waste, pulp and paper industry waste and stranded natural gas.
We expect these to be in all markets around the world.
Q5. GHGblog.com: Are there other markets, not just carbon markets that the technology would naturally be suited to broader energy markets for example.
This is an energy company first and foremost, but we take our social responsibility seriously and want to focus on cleaner and greener opportunities where possible.
Q6: GHGblog.com: What is the cost of the technology?
This is difficult to answer as it is dependant on many factors; however we expect small plants to cost around $150,000,000
Q7: GHGblog.com: How does it compared to other methods of converting hydrocarbons to liquid fuels?
We offer the following benefits to the public:
- Production of gasoline, diesel, kerosene or chemicals as market conditions change
- 20-30% less CO2 than competitive processes
- Does not require the conversion of current vehicles
- Does not require a change to delivery infrastructure
- Can produce clean burning liquid fuels at very competitive prices
- Does not compete with food
- Raw materials are abundant and currently underutilized.
To investors the following benefits are important:
- Relatively low capital cost at start up
- Modular plants allow testing before scale up
- Once tested scale up can be rapid
- 20-30% less CO2 than competitive processes
- Pilot plants operating in China and Australia
- Internal rates of return of between 25 and 30% depending on the feedstock and scale of the plant.
Q8: GHGblog.com: Does this technology work with other technologies or it a stand alone solution?
A Fischer Tropsch plant is an integrated suite of technologies, including:
- Gasification
- Fischer Tropsch
- Cracking
Q9: GHGblog.com: What stage of development is the technology?
This technology is based on 80 year old technology but these new developments are being piloted in fully scalable plants in Australia and China
Q10: GHGblog.com: Are you looking for further investment or customers?
We are definitely looking for both investors and for customers.
The kinds of customers we need are project developers with appropriate resources. i.e.
- Municipal waste
- Biomass waste
- Stranded natural gas
- Appropriate coal
We are also interested in joint venturing with technology suppliers who only supply parts of the overall process.
Q11: GHGblog.com: How do people contact you?
My contact details are:
Phone: 416-204-0352
E-mail:
The above information can be found at the following link:
http://ghgblog.com/2008/09/09/interview-with-michael-hepworth-alternative-fuels-corporation/
More information can be found at www.alternativefuelscorp.com
G4G Resources Announces Private Placement Financing
Vancouver, B.C., September 22, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) is pleased to announce plans to complete a non-brokered private placement of up to $1,000,000 through the issuance of units priced at $0.25. Each unit would consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.45 until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days, the day that is the 45th day following G4G’s delivery to the holder of G4G’s notice accelerating the expiry date. The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.
G4G plans on using the proceeds from the financing for the exploration and development of the Company’s recently announced joint ventures with Teck Cominco, IMBS, Magnetite Holdings, Crusader and the University of Witwatersrand, and for identifying additional opportunities and working capital purposes.
About G4G Resources
G4G Resources is a Canadian-based company with projects in iron ore, iron production and alternative fuels. Building strategic partnerships is the key to the company’s development.
Under an agreement with TCL Sweden Ltd. (a wholly owned subsidiary of Teck Cominco Limited), G4G is operating an iron ore project in Sweden. The 2008-2009 development program is focused on the Junosuando occurrence, with a historical iron ore resource of 60 million tonnes, as reported by the Geological Survey of Sweden. (Note: The historical resource number has not been verified by a Qualified Person under NI 43-101).
Brazil is a key target region, with G4G having a strategic partnership with Crusader do Brasil Mineracao Ltda., under which the companies are working together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units.
For the production of iron, G4G has an agreement with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units.
Alternative fuels is another key area of development, with G4G having an MOU with University of Witwatersrand, Johannesburg (“Wits”) to commercialize the syngas to liquids production process that has been developed by Wits’ Centre of Materials and Process Synthesis (COMPS). The process is a new generation application of Fischer Tropsch technology.
Encompassing both iron ore and alternative fuels, G4G has an agreement which will allow the company to acquire a majority interest in Magnetite Holdings, which holds iron ore assets in Namibia. The properties in Namibia are slated to produce a chemical grade iron catalyst for sale to coal, gas and biomass converters using the Fischer Tropsch process to produce ultra-clean diesel and gasoline.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-648-4202
Email:
Wits COMPS Commissions Chinese Plant To Produce Ultra-Clean Fuel Using Advanced F-T Technology
Vancouver, B.C., Friday, November 7, 2008 -- Wits COMPS and Golden Nest have announced the successful commissioning and operation of the Baodan Liquid Fuels Plant in Baoji, ShaanXi Province China. The plant will produce liquid fuels, such as diesel and gasoline.
Under a memorandum of understanding (MOU) signed between Wits Comps and G4G Resources Ltd, the parties are working towards an exclusive agreement to implement the Wits COMPS technology throughout the world. (See press release dated 13 August, 2008).
“There are two milestones that Wits COMPS have clearly demonstrated with their proprietary technology; one being the underground coal gasification technology applied to the Linc Energy project in Australia, which has also successfully produced liquid fuels, and now the successful commissioning of the Baodan plant in China,” stated Basil Botha, President and CEO of G4G Resources Ltd.
The COMPS Golden Nest project was initiated in September 2004, and the construction of the plant was completed in January 2008. COMPS has now successfully commissioned the plant. The plant uses advanced Fischer Tropsch technology developed by COMPS at the University of the Witwatersrand.
The COMPS technology can be used to create ultraclean liquid transportation fuels from any hydro-carbon source including natural gas, biomass, coal, shale oil, and municipal waste.
G4G Resources announces that Basil Botha has been appointed Chairman, replacing Mr. Tony Wonnacott and Peter Arendt has been appointed Chief Financial Officer, replacing Mr. Mark Brown.
About G4G Resources
For additional information on G4G Resources Ltd., please visit the company’s website at www.g4gresources.com.
About Alternative Fuels Corporation
For additional information on Alternative Fuels Corporation, please visit www.alternativefuelscorp.com.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha
President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Michael Hepworth
VP Business Development
Alternative Fuels Corporation
Tel: 416-204-0352
Email:
G4G Resources Delays Private Placement Financing
G4G RESOURCES DELAYS PRIVATE PLACEMENT FINANCING
Vancouver, B.C., Tuesday, December 2nd, 2008 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) announced today to delay plans to complete a non-brokered private placement announced on September 22, 2008. The delay is based on the current economic climate and financial markets which have affected the availability of funds from potential investors. G4G plans to complete the non-brokered private placement at a later date.
About G4G Resources
For additional information on G4G Resources Ltd., please visit the company’s website at www.g4gresources.com.
About Alternative Fuels Corporation
For additional information on Alternative Fuels Corporation, please visit www.alternativefuelscorp.com.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2007 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
G4G Resources Announces Private Placement Financing
Vancouver, B.C., March 24, 2009 -- G4G Resources Ltd. (TSX-V: GXG) ("G4G") announces plans to complete a non-brokered private placement of up to $300,000 through the issuance of units priced at $0.06. Each unit would consist of one common share and one common share purchase warrant (a "Warrant"). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.15 until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.50 per share for a period of 20 consecutive days. The private placement financing is subject to regulatory approval and all securitites issued in connection with the private placement will be subject to a four-month regulatory hold period. G4G plans on using the proceeds from the financing for the identifying and analyzing of ironsands projects in the Western hemisphere, for which the company has submitted applications for minerals concessions together with local partners, and for identifying and evaluating additional opportunities and working capital purposes. There are no assurances that the minerals concessions will be granted. In connection with the private placement, eligible registrants shall receive a cash commission equal to 8% of the gross proceeds they raise as well as broker warrants entitling them to acquire such number of units as is equal to 10% of the total number of units they sell in the financing, at a price of $0.06 per unit for a period of two years. G4G also announces that it has elected to terminate the previously announced joint venture with Teck Cominco (see press release dated March 31, 2008) for the development of minerals properties in Sweden. About G4G Resources G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects. Forward-Looking Statement This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact of the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2007 Annual Report filed with SEDAR on May 5, 2008. For more information contact: Basil Botha, President and CEO Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Website: www.g4gresources.com
G4G Resources Announces Granting of Options
Vancouver, B.C., April 6, 2009 -- G4G Resources Ltd. (TSX-V: GXG) ("G4G") announces granting of options to purchase 1,100,000 common shares of G4G at an exercise price of $0.07 and valid for a period of five years to directors, officers and consultants of G4G, subject to regulatory approval.
About G4G Resources
G4G Resources is a Canadian-based mineral exporation and development company focused on a number of resource properties.
Forward Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the dates hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2007 Annual Report filed with SEDAR on May 5, 2008.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Website: www.g4gresources.com
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Closes $300,000 Financing
Vancouver, B.C., May 4 2009 - G4G Resources Ltd. (TSX-V:GXG) today announced the closure of the previously announced non-brokered private placement of 5,000,000 Units at a price of $0.06 per Unit for gross proceeds of $300,000 (see press release dated March 24, 2009).
Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.15 per share until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.50 per share for a period of 20 consecutive days. The private placement financing has received regulatory approval. All securities issued in connection with the private placement will be subject to a four-month regulatory hold period, expiring on September 5, 2009 in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.
The previously announced press release (dated April 6, 2009) granting options to directors, officers and consultants of G4G to purchase 1,100,000 common shares of G4G at an exercise price of $0.07 has been revised to: the granting of options to directors, officers and consultants of G4G to purchase 1,100,000 common shares of G4G at an exercise price of $0.10 per common share of G4G, subject to regulatory approval.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2007 Annual Report filed with SEDAR on May 5, 2008.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Wholly Owned Subsidiary, Alternative Fuels Corporation Signs Recycling Agreement
Vancouver, B.C., Tuesday May 19th, 2009 -- G4G Resources Ltd. (TSX-V: GXG) announced today that its wholly owned subsidiary, Alternative Fuels Corporation (AFC) and Turtle Island Recycling Corporation (TIR) have reached a formal agreement in which TIR will supply 400 tonnes per day of recycling residuals (mainly plastics and paper). The waste residuals will be sent to a planned bio-refinery and chemical plant to be situated in Sarnia, Ontario where AFC will utilize its proprietary process to convert the waste into a range of specialty chemicals, waxes and ultra clean diesel and jet fuel.
“This is the first step, amongst many, to convert waste into value added products and clean up the environment at the same time. Landfills are toxic zones when one considers the amount of poison effluents and phenols that leak into our river systems from these sites. The conversion of landfill waste into value added products is a carbon neutral initiative when the right technology is used,” stated Basil Botha, President and CEO of G4G Resources Ltd.
“Very few people are aware of the hazards generated by our daily waste and one example is the waste being shipped from Vancouver to Cache Creek in the BC interior, which has been documented as emitting toxic effluents,” added Mr. Botha,. “Even when attempts are made to capture methane, the amount of gas emitted to the atmosphere from these dumps is a greater danger than C02 emissions. Incineration of the waste is not the answer either as it only yields relatively low value heat steam and electricity. Conversion of waste to high value transportation fuels and specialty chemicals is a major potential growth industry and one which will create real sustainable jobs for the Sarnia area and other areas that follow this path. The waste that is sent to landfill contains valuable, but wasted energy and diverting this waste for reprocessing should be a priority for all levels of government”.
G4G Resources signed a memorandum of understanding (MOU) with the University of Witwatersrand’s Centre of Materials and Process Synthesis (COMPS) on August 13, 2008, which will enable AFC to commercialize syngas to liquids production in the Americas. COMPS has successfully developed syngas to liquids demonstration and pilot plants in Australia and China and are in discussions with the owners of these plants to construct commercial scale facilities in both countries. The Sarnia plant will be a first for North America and should set the stage for rapid commercialization of this technology.
Mr. Botha continued, “While coal and natural gas feedstocks are viable sources of alternative fuel, industrial waste presents an immediate opportunity as a feedstock. Waste sent to landfills is a social, political and environmental problem and the upside is that we get paid to take it away and turn it into something of real value”.
The COMPS process is a new generation of the Fischer Tropsch technology. The technology offers reduced CO2 emissions, reduced capital and operating costs, as well as simplicity of operation and ease of scalability and is sufficiently environmentally friendly to earn carbon credits. Another advantage of this technology over conventional technologies is the modularity of the design. Smaller production units can be put up in a shorter period of time with a fraction of the total investment to start generating a return on the investment once the first module is operational.
The fuels produced are clean burning; contain no sulphur, no particulate matter, no aromatics and no nitrous compounds.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. In addition, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2008 Annual Report filed with SEDAR on April 23, 2009.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Website: www.g4gresources.com
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Announces Amendment To Previously Announced Granting of Options
Vancouver, B.C., Wednesday May 20th, 2009 – G4G Resources Ltd. (TSX-V: GXG) (“GXG”) announced today that the previously announced number of options granted to directors, officers and consultants of G4G has been revised from 1,100,000 common shares of G4G (as advised in the news release dated May 4, 2009) to 850,000 common shares of G4G. The exercise price of $0.10 is unchanged.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. In addition, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2008 Annual Report filed with SEDAR on April 23, 2009.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Website: www.g4gresources.com
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Announces Private Placement Financing
Vancouver, B.C., May 26, 2009 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) announces plans to complete a non-brokered private placement of up to $400,000 through the issuance of units priced at $0.20. Each unit would consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.30 until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.60 per share for a period of 20 consecutive days. The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.
G4G plans on using the proceeds from the financing for the identifying and analyzing of ironsands projects in the Western hemisphere, for which the company has submitted applications for minerals concessions together with local partners, and for identifying and evaluating additional opportunities and working capital purposes. There are no assurances that the minerals concessions will be granted.
In connection with the private placement, eligible registrants shall receive a cash commission equal to 7% of the gross proceeds they raise as well as broker warrants entitling them to acquire such number of units as is equal to 9% of the total number of units they sell in the financing, at a price of 0.20 cents per unit for a period of two years.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2008 Annual Report filed with SEDAR on April 23, 2009.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
G4G Resources Closes $400,000 Financing
Vancouver, B.C., June 18, 2009 - G4G Resources Ltd. (TSX-V:GXG) today announced the closure of the previously announced non-brokered private placement of 2,000,000 Units at a price of $0.20 per Unit for gross proceeds of $400,000 (see press release dated May 26, 2009).
Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.30 per share until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.60 per share for a period of 20 consecutive days. All securities issued in connection with the private placement will be subject to a four-month hold period, expiring on October 18, 2009.
G4G would also like to announce an amendment to the previous news release (dated March 24, 2009) announcing a private placement financing. The correct exercise price of the broker warrants mentioned in the news release is $0.07.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
Alternative Fuels Corporation Concludes Agreement To Produce Fuels From Waste, Natural Gas and Coal
G4G RESOURCES’ SUBSIDIARY ALTERNATIVE FUELS CORPORATION CONCLUDES AN EXCLUSIVE AGREEMENT WITH THE UNIVERSITY OF WITWATERSRAND TO PRODUCE FUELS & CHEMICAL FEEDSTOCKS
FROM MUNICIPAL WASTE, NATURAL GAS AND COAL
Vancouver, B.C., Tuesday June 23rd, 2009 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) today announced that its wholly owned subsidiary Alternative Fuels Corporation (“AFC”) and The University of Witwatersrand, Johannesburg, South Africa (“Wits”) concluded an exclusive representation agreement to commercialize the fuel and chemical production process developed by the Centre of Materials and Process Synthesis (COMPS) located at Wits. The COMPS propriety technology utilizes a second generation of the well established Fischer-Tropsch process that Sasol has successfully used for the past fifty years.
COMPS has successfully commissioned two pilot plants in China and Australia. Both plants are now producing at design capacity and planning is underway to scale up for commercial production facilities.
The agreement grants AFC exclusive rights to market and deploy the Wits conversion technology in the Americas and follows AFC’s announcement of 13th May 2009 on the waste supply agreement with Turtle Island Recycling Corporation. The proposed plant, to be built in the Sarnia area of Ontario, will convert waste destined for landfill into a variety of value added chemicals, fuels and waxes.
“There is no question that the South Africans, through Sasol, are the world leaders in the field of Fischer-Tropsch. The developments that the COMPS engineers have applied to the second generation Fischer-Tropsch technology will revolutionize the application of this technology in plants throughout the Americas. Our management and Board are delighted with the confidence that Wits has displayed in partnering with G4G Resources in this exclusive agreement for the Americas,” stated Basil Botha, President & CEO.
The COMPS FT technology offers the following advantages over first generation technology:
• 20-30% lower capital cost per barrel
• Lower operating costs
• High efficiency levels
• A robust and simple process that is reliable and easy to operate
• Quick to design & build
• Scalable
• Modular
• A once-through process that is energy and capital efficient
• Produces both syncrude & electricity
• The world’s greenest fuels and chemicals when using biomass derived feedstocks
Mr. Botha continued, “With the growing global competition for petroleum as China and India continue their economic expansion, there is a dire need for countries to become energy independent. For example, the United States imports over fifty percent of their petroleum requirements and will be compelled to convert their abundant coal reserves into usable fuel through processes similar to that which has been developed by COMPS. The South Africans took the initiative to become self sufficient after the world oil embargo of the 70’s, with Sasol building coal to liquids plants with a capacity of 160,000 barrels per day. The COMPS plants together with other forms of alternative fuel and energy plants will continue to play a vital role in the energy independence that countries seek”.
About G4G Resources (TSX-V:GXG)
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects, including iron ore, gold, alternative fuels and geothermal power.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd
604-602-9868
www.g4gresources.com
G4G Resources Concludes Agreement To Acquire Geothermal Properties In San Juan Province, Argentina
VANCOUVER, B.C., CANADA, September 8, 2009 – G4G Resources Ltd (TSX.V: GXG) announces that it has signed a Letter of Intent (LOI) to acquire from Geotermia Andina SA a 90% interest in the 3,600 hectare Despoblados geothermal energy project in the San Juan Province of Argentina. The agreement provides that Energia Provincial Sociedad Del Estado (EPSE), the local provincial utility company of San Juan, will co-joint venture the Los Despoblados property and will retain 10% of the project. Details of the agreement will be forthcoming upon signing of a definitive agreement.
EPSE will assist in achieving the commercialization of electrical energy produced from the hot water systems on the Despoblados properties. EPSE will further assist in attracting mining companies which operate in the district to purchase electrical power which may be generated from the properties. In close to proximity to the Despoblados geothermal properties are Barrick Gold Corporation’s Veladero mine, which is in operation, and the Pascua-Lama project, which is scheduled to be in production by 2012. Veladero and Pascua-Lama are both currently powered primarily by diesel-fired generation and are located approximately 8 kilometres and 28 kilometres from Despoblados, respectively.
Basil Botha, President & CEO, said, "This is an exciting prospect, with the potential to supply electricity from the Despoblados geothermal properties to Barrick’s Veladero and Pascua Lama mines. Together, these two mines will require approximately 150 MW of electricity”.
In addition to geothermal energy in Argentina and iron sands in Central America, G4G is also focused on the production of alternative fuels from municipal waste, through its wholly-owned subsidiary, Alternative Fuels Corporation (AFC). AFC is currently developing a project in Sarnia, Ontario. G4G is actively engaged in acquiring additional projects in the alternative fuels and the geothermal energy arenas.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects, including iron sands, alternative fuels and geothermal power.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd
604-602-9868
www.g4gresources.com
G4G Resources Announces Private Placement Financing
Vancouver, B.C., Wednesday, September 23, 2009 -- G4G Resources Ltd. (TSX-V: GXG) (“G4G”) announces plans to complete a non-brokered private placement of up to $1,750,000 through the issuance of units priced at $0.25. Each unit would consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant would entitle the holder to acquire an additional common share of G4G at a price of $0.50 until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days. The private placement financing is subject to regulatory approval and all securities issued in connection with the private placement will be subject to a four-month regulatory hold period.
G4G plans on using the proceeds from the financing for identifying and evaluating geothermal and ironsands projects, for which the company has received or submitted applications for minerals concessions together with local partners, and for identifying and evaluating additional opportunities and working capital purposes. There are no assurances that the minerals concessions applications will be granted.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and G4G Resources Ltd. assumes no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2008 Annual Report filed with SEDAR on April 23, 2009.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
Tel: 604-602-9868
Email:
Website: www.g4gresources.com
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
G4G Resources Closes $1,985,000 Financing
G4G RESOURCES CLOSES $1,985,000 FINANCING
For Immediate Release: Thursday, October 15, 2009 -- Vancouver, B.C., October 15, 2009 - G4G Resources Ltd. (TSX-V:GXG) today announced the closure of the previously announced non-brokered private placement of 7,940,000 Units at a price of $0.25 per Unit for gross proceeds of $1,985,000 (see press release dated September 23, 2009).
Each Unit consists of one common share and one non-transferable common share purchase warrant, entitling the holder thereof to purchase an additional common share at an exercise price of $0.50 per share until the earlier of (i) 24 months following issuance; and (ii) in the event that the common shares of G4G trade at or above $0.70 per share for a period of 20 consecutive days. All securities issued in connection with the private placement will be subject to a four-month hold period, expiring on February 16, 2010.
In connection with the private placement, cash commissions totalling 4.2% of the gross proceeds shall be paid to eligible recipients.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Concludes Agreement To Acquire Geothermal Property in Salta Province, Argentina
VANCOUVER, B.C., CANADA, December 18, 2009 – G4G Resources Ltd (TSX.V: GXG) announces that it has entered into an agreement with Area Geofisica ENG s.a. (AG) to acquire 100% of the Anetta geothermal property located in the province of Salta, Argentina. Details of the agreement will be forthcoming upon completion of due diligence.
The Anetta property covers an area of 6,555 hectares and is located 170 kilometres south of the city of Salta, which is the capital of the province of Salta. In close proximity to Anetta is the city of Rosario de la Frontera, which has population of approximately 30,000.
“G4G Resources is extremely pleased with the agreement to acquire the Anetta geothermal property,” stated Basil Botha, President & CEO. The property is adjacent to established electricity lines and roads, and close to markets for power. We look forward to developing the project to its full potential.”
Based on previous work that has been conducted, Anetta is characterized by surface occurrences of hot water, with temperatures at surface ranging from 50oC to 99oC. Geothermometers indicate reservoir temperatures in the range of 150oC to 170oC.
Following completion of the acquisition, G4G will commence a field program to verify the geothermal capacity of the Anetta property, with a view to developing a geothermal power project.
The acquisition is subject to approval by the TSX Venture Exchange.
G4G also announces that it will not pursue the definitive agreement to acquire a 90% interest in a geothermal property in the province of San Juan, Argentina under the Letter of Intent announced on September 8, 2009.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on a number of resource projects, including iron sands, alternative fuels and geothermal power.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd
604-602-9868
www.g4gresources.com
G4G Resources Ltd. Amends Terms On 4,000,000 Warrants
VANCOUVER, B.C., CANADA, January 22, 2010 – G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on 4,000,000 warrants it currently has outstanding from its private placement financing in December 2007. The expiry date of the warrants has been extended to March 31, 2010 from the original expiry date of December 28, 2009. The exercise price of the warrants remains unchanged at $0.45.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects, including iron sands, alternative fuels and geothermal power.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources To Acquire Geothermal Properties in Argentina
Vancouver, British Colombia, February 16, 2010: G4G Resources Ltd (“G4G” or the “Company”) (TSX-V: GXG), has entered into an exploration contract with option to purchase (the “Agreement”) with Grupo Minero Aconcagua S.A. (“Aconcagua”), a private company registered in Argentina and Andean Geothermal Power Corporation (“Andean”), a private company registered in Texas, United States of America. Under the terms of the Agreement, G4G has the option to acquire properties in three separate geothermal areas in Argentina (the “Properties”). In addition, G4G is pleased to announce that it intends to change the name of the company to more effectively reflect the nature of the business with which it is involved. Subject to TSX Venture Exchange and Shareholder approval, G4G will become Americas Geothermal Inc., under the symbol TSX-V: GXG.
The Properties are located in the mining-friendly Provinces of Jujuy, Salta and San Juan, and collectively encompass 45,390 hectares. All properties are in close proximity to roads and/or power lines. A number of properties are also close to current mining operations using diesel generation and potential mining operations which will require power in the future.
“In addition to the acquisition of the rights to the Anetta geothermal property in Salta Province, the newly acquired rights to the Valle del Cura, Tuzgle and Tocomar geothermal properties will add a great deal of value to G4G shareholders,” stated Basil Botha, President and CEO of G4G Resources Ltd. “The Valle del Cura property includes the Despoblados property, which is approximately 8 kilometres from Barrick Gold Corporation’s Veladero Mine and 20 kilometres from the proposed Pasqua-Lama Mine. Another exciting aspect is that the Tuzgle property is in close proximity to the power grid. Tuzgle is also close to current and potential lithium operations, which require large amounts of power to process lithium and potash.”
G4G will develop the Despoblados property under a joint venture with Energia Provincial Sociedad del Estado (“EPSE”), which is the state-owned electrical utility of the province of San Juan. Despoblados covers approximately 3,600 hectares, which is 18% of Valle del Cura, which totals 20,088 hectares. Under the joint venture agreement with EPSE, G4G will acquire 90% of the emerging rights of the Despoblados project and EPSE will retain 10%. The Agreement with Aconcagua and Andean assigns to G4G the rights to earn 100% of the remaining 82% of Valle del Cura, as well as 100% of Tuzgle and 100% of Tocomar.
Following receipt of approval from the TSX Venture Exchange and G4G Shareholders, the Company will make the payments described below and issue 10,000,000 common shares of the company. An additional 5,000,000 common shares of the company will be issued six months thereafter and an additional 5,000,000 common shares of the company six months thereafter. The acquisition includes the provision of a US$265,000 loan to be repaid by G4G to Viso Gero Global Inc. within thirty days following signature of the definitive agreement. G4G will also be required to fund the exploration of the Despoblados property in the amount of US$1,863,000 over two years. G4G intends to raise additional funds required for exploration via brokered and/or non-brokered financings. G4G will compensate the original vendors with a series of payments totaling US$10,150,000 by September 30, 2013 and a 3% royalty on production of electricity.
Following the receipt of the required regulatory approvals, the Company intends to immediately begin development work on the most prospective geothermal energy properties. Work will begin on the Valle del Cura property with a focus on the Despoblados geothermal occurrence and will include structural mapping, geochemistry, geophysics and drilling, with the goal of defining geothermal resources which will support the commercial generation of electricity.
Acquiring the rights to additional properties under the new definitive agreement follows G4G’s announcement of December 18, 2009 that the Company has entered into an agreement to acquire 100% of the Anetta geothermal property located in the province of Salta. With these two agreements, G4G will have the potential to develop power projects in three provinces and four geothermal fields in Argentina. Additionally, G4G has made application for the geothermal rights to an additional 18,732 hectares adjacent to Anetta, which will increase the size of Anetta land package from 6,555 hectares to 25,287 hectares. G4G’s total geothermal land package in Argentina will be 70,677 hectares.
Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurances that the transaction will be completed as proposed or at all
Investors are cautioned that, except as disclosed in the Management Information Circular and/or Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of G4G Resources Ltd should be considered highly speculative
The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects, including geothermal power, iron sands and alternative fuels.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Reports on Progress of Geothermal Acquisition in Argentina
Vancouver, British Colombia, March 24, 2010: G4G Resources Ltd (“G4G” or “the Company”) (TSX-V:GXG) announces that the independent technical report on the geothermal resource at the Despoblados prospect (“Despoblados”) located in San Juan, Argentina (“technical report”) has been completed by GeothermEx, Inc. (“GeothermEx”). The technical report has been filed with the TSX Venture Exchange (“TSX-V”) for review prior to release. Upon receiving TSX-V approval, the Company intends to post the technical report on SEDAR.
Despoblados is one of the geothermal properties in the Valle del Cura region in respect of which G4G previously announced on February 16, 2010 that it had entered into an exploration contract with an option to purchase with Group Minero Aconcagua S.A. and Andean Geothermal Power Corporation (the “Agreement”).
The geothermal resource estimate for Despoblados has been prepared in accordance with The Canadian Geothermal Code for Public Reporting, 2010 Edition, published by the Canadian Geothermal Energy Association (“CanGEA”) (“The Canadian Geothermal Code”). Using the temperature of the geothermal system estimated from chemical geothermometry and certain standard assumptions regarding area and thickness, the technical report estimates a resource range at Despoblados of about 8 to 17 MWe for 20 years of production, which may be considered an Inferred Resource Estimate in the sense of the Canadian Geothermal Code. A larger resource may be present if further exploration shows its area and/or thickness to be greater than assumed. The technical report also states the Valle de Cura geothermal concessions collectively have a possible total resource capacity of 35 to 85 MWe (for 20 years), perhaps several tens of MW or more.
The Canadian Geothermal Code outlines the requirements for reporting of Exploration Results, Geothermal Resources and Geothermal Reserves and provides a minimum set of requirements for the public reporting of Geothermal Resources and Reserves. The Canadian Code will serve as an industry self-regulation and will be on a voluntary compliance basis for 2010. The Code is intended for all publically listed companies on Canadian Exchanges and all other private and public companies benchmarked against Canadian industry standards. Reports prepared in accordance with the Canadian Geothermal Code are presently not in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, since such instrument does not apply to geothermal projects. Nevertheless, G4G believes that the Canadian Geothermal Code is the most up-to-date and credible Canadian standard for the reporting of geothermal information. The technical report was prepared by Christopher W. Klein and Roger C. Henneberger of GeothermEx, both of whom are responsible for its content. Each of Dr. Klein and Mr. Henneberger is a “qualified person” under the Canadian Geothermal Code and is independent of G4G.
GeothermEx, Inc. is a U.S. corporation, in business since 1973, specializing exclusively in providing consulting, operational and training services in the exploration, development, assessment and valuation of geothermal energy. GeothermEx, Inc. is the largest and longest-established such organization in the Western Hemisphere. The staff consists of specialists in geosciences (geology, geochemistry, geophysics, hydrology), engineering (drilling, well testing, reservoir, production, power plant, chemical), computer science and economic analysis. All technical staff members have advanced degrees and lengthy geothermal experience (average 15 years), with several members having more than 25 years in the geothermal industry.
G4G is currently in the process of satisfying the requests from the TSX-V for documents and information relating to the proposed transaction. Trading in G4G’s common shares has been halted on the TSX-V since the announcement of the proposed transaction on February 16, 2010. Completion of the transaction remains subject to the final approval of the TSX-V and G4G Shareholders. Following completion of the transaction, G4G intends to carry out planned work that would include structural mapping, geochemistry, geophysics and drilling, with the goal of defining geothermal resources which will support the commercial generation of electricity. The amount of the work commitment by G4G for the exploration and drilling activities is US$1,863,000 over a period of two years.
In addition, an application has been made to change the name of the company to more effectively reflect the nature of the business with which it is involved. Subject to TSX-V approval, G4G will become Americas Geothermal Inc., under the symbol TSX-V: GXG.
Investors are cautioned that, except as disclosed in the management information circular and/or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of G4G Resources Ltd. should be considered highly speculative. The TSX-V has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. There can be no assurances that the transaction will be completed as proposed or at all.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company pursuing a number of resource projects, including geothermal power, iron sands and alternative fuels. If the proposed transaction is completed, G4G’s primary focus is anticipated to be the development of geothermal power projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Announces Revised Terms of Agreement to Acquire Interest in Geothermal Properties in Argentina
Vancouver, British Colombia, April 21, 2010: G4G Resources Ltd (“G4G” or the “Company”) (TSX-V: GXG), announces that it has entered into an amending agreement that revises the terms under which it would acquire an interest in three separate geothermal areas in Argentina. G4G had previously announced on February 16, 2010 that it had entered into an assignment agreement relating to the proposed acquisition with Grupo Minero Aconcagua S.A. (“Aconcagua”), a private company registered in Argentina and Andean Geothermal Power Corporation, a private company registered in Texas, United States of America (“Andean” and, together with Aconcagua, the “Seller”). Pursuant to the amended assignment agreement (the “Agreement”), the Company will assume the Seller’s obligations under an exploration contract with an option to purchase (the “Exploration and Option Agreement”) originally entered into between Aconcagua and Geotermia Andina S.A., an Argentinean energy company (“Geotermia Andina”). Aconcagua later assigned its interest in the Exploration and Option Agreement to Andean.
The Exploration and Option Agreement to be assigned to G4G pursuant to the Agreement will provide G4G with geothermal rights to the Valle del Cura (which includes the Despoblados project), Tuzgle and Tocomar projects located in the San Juan, Jujuy and Salta provinces of Argentina, respectively. These projects are in close proximity to roads and/or power lines. The Despoblados project is approximately 8 kilometres from Barrick Gold Corporation’s Veladero mine and 20 kilometres from its proposed Pasqua-Lama mine. The Tuzgle property is in close proximity to an existing power grid, and to current and potential lithium operations, which require large amounts of power to process lithium and potash. A technical report on the Despoblados project is being separately announced and filed by G4G on SEDAR.
In assuming the Seller’s obligations under the Exploration and Option Agreement, G4G would be required to make remaining payments to Geotermia Andina totaling US$3,860,000 in respect of the Valle del Cura projects and US$6,290,000 in respect of the Tuzgle-Tocomar projects in accordance with the following schedule:
Valle del Cura
March 31, 2010: US$180,000
September 30, 2010: US$282,500
March 31, 2011: US$310,000
September 30, 2011: US$342,500
March 31, 2012: US$360,000
September 30, 2012: US$375,000
March 31, 2013: US$250,000
September 30, 2013: US$1,760,000
Total: US$3,860,000
Tuzgle-Tocomar
March 31, 2010: US$200,000
September 30, 2010: US$287,500
March 31, 2011: US$365,000
September 30, 2011: US$407,500
March 31, 2012: US$475,000
September 30, 2012: US$500,000
March 31, 2013: US$425,000
September 30, 2013: US$3,630,000
Total: US$6,290,000
Payment of the amounts referred to above will result in G4G acquiring an interest in the Valle del Cura and Tuzgle-Tocomar projects, subject to a 3% royalty on production. G4G may exercise its option to purchase independently in respect of the Valle del Cura project and the Tuzgle-Tocomar project and may also withdraw from either or both of the projects.
Because the proposed transactions have not yet received shareholder and TSX Venture Exchange approval, the Agreement provides that G4G will pay Geotermia Andina the amounts of US$180,000 in respect of the Valle del Cura project and US$200,000 in respect of the Tuzgle-Tocomar project that were due to be paid by Andean on March 31, 2010. The US$180,000 will be paid no later than April 23, 2010 and the US$200,000 will be paid on or before June 1, 2010. In addition, G4G will pay to Geotermia Andina additional amounts to fund a work program in respect of the properties scheduled to be completed by April 30, 2010. These amounts are expected to total approximately US$40,000. In the event that the required shareholder, TSX Venture Exchange and other approvals are not obtained for the proposed transactions, the Agreement provides that Andean will reimburse G4G for the amounts paid by G4G referred to above.
In addition to assuming the obligations of the Seller under the Exploration and Option Agreement, the Agreement requires G4G to issue 20,000,000 G4G common shares to the Seller as partial consideration for the assignment of the Exploration and Option Agreement to G4G. Under the revised terms of the Agreement, G4G will issue those common shares from treasury to the Seller in accordance with a schedule that corresponds to the schedule of payments to be made by G4G to Geotermia Andina in respect of the Valle del Cura and Tuzgle-Tocomar projects.
The schedule for the issuance of common shares is as follows:
Date of receipt of required shareholder, TSX Venture Exchange and other approvals: 2,000,000
September 30, 2010: 1,900,000
March 31, 2011: 1,350,000
September 30, 2011: 1,500,000
March 31, 2012: 1,670,000
September 30, 2012: 1,750,000
March 31, 2013: 1,350,000
September 30, 2013: 8,480,000
Total: 20,000,000
The amendments do not change G4G’s other payment and funding obligations under the Agreement. In particular:
ï‚§ G4G will fund the work program and feasibility study on the Despoblados project in the total amount of US$1,853,000 over two years, and
ï‚§ G4G will pay within 30 days the amount of CAD$265,000 to Viso Gero Global Inc. to satisfy the amounts owing by Andean under a loan.
G4G will develop the Despoblados property under a joint venture with Energia Provincial Sociedad del Estado (“EPSE”), which is the state-owned electrical utility of the province of San Juan. Under the joint venture agreement with EPSE, G4G will acquire 90% of the emerging rights of the Despoblados project. The Agreement with the Seller will assign to G4G the rights to earn 100% of the remaining area comprising the Valle del Cura project as well as 100% of the Tuzgle-Tocomar project on payment of the amounts referred to above.
G4G also announces that it has withdrawn its application for the geothermal rights to an additional 18,732 hectares adjacent to the Anetta geothermal property located in the province of Salta, Argentina. The application was previously announced by the Company on February 16, 2010.
G4G anticipates that it will hold its annual meeting of shareholders in June 2010. In addition to regular annual meeting business, the proposed transactions will be put forward to G4G’s shareholders for approval at the meeting. G4G will prepare a management information circular describing the transactions which it expects to mail to shareholders in due course.
Completion of the transactions is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval. The transactions cannot close until these and other required approvals are obtained. There can be no assurances that the transactions will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular describing the transactions, any information released or received with respect to the transactions may not be accurate or complete and should not be relied upon. Trading in the securities of G4G should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects, including geothermal power, iron sands and alternative fuels.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Announces Filing of Independant Technical Report on Geothermal Resource in Argentina
Vancouver, British Colombia, April 21, 2010: G4G Resources Ltd (“G4G” or “the Company”) (TSX-V:GXG) announces that the independent technical report on the geothermal resource at the Despoblados prospect located in San Juan, Argentina has been filed on SEDAR. The report was previously referred to in the Company’s news release dated March 24, 2010. The TSX-V has not reviewed nor accepted the independent technical report for filing.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company pursuing a number of resource projects, including geothermal power, iron sands and alternative fuels. If the proposed transaction is completed, G4G’s primary focus is anticipated to be the development of geothermal power projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Ltd. Amends Terms on 2,600,000 Warrants
G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on 2,600,000 warrants it currently has outstanding from its private placement financing in April 2008. The expiry date of the warrants has been extended to September 30, 2010 from the original expiry date of April 25, 2010. The exercise price of the warrants remains unchanged at $0.45.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects, including iron sands, alternative fuels and geothermal power.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Announces Lifting of Trading Halt
Vancouver, B.C., April 29, 2010 - G4G Resources Ltd. (“G4G”) (TSX-V: GXG) today announced that the TSX Venture Exchange has advised that it will lift the halt on trading of G4G’s common shares such that trading in the common shares will re-commence at the market opening on Friday, April 30, 2010.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources and Iron Sands Americas Limited Receive Iron Sands Licence in Guatemala
Vancouver, B.C., May 10, 2010 - G4G Resources Ltd. (“G4G”) (TSX-V: GXG) today announced that an Off-Shore Reconnaissance Licence (“OSRL”) totalling 2,492 square kilometres has been issued by the Director General Mining, Guatemala. The OSRL will permit G4G and Iron Sands Americas Limited (“ISA”) to conduct a work program to determine suitable areas for the commencement of an iron sands exploration program.
Guatemala’s west coast extends approximately 250 kilometres. The titanomagnetite iron sands span the entire coastline, terminating near bordering El Salvador and continue westward into Mexico - the result of thirty three inland volcanoes (3 active, the others inactive) erupting over time. The volcanic residue has and continues to be carried down by the river systems and deposited on the planes, beaches and into the ocean.
Basil Botha, President and CEO stated, “After assessing a variety of iron sands occurrences in a number of countries, the coastal iron sands deposits in Guatemala have demonstrated the potential to be prolific sources of iron, with potentially low cost recovery and shipping costs. The iron sands are well-placed on the Pacific west coast to supply the fast developing Asian iron and steel markets. In terms of comparison, the Guatemala iron sands exhibit similar technical specifications to the world class iron sands deposits in New Zealand, which have been mined and beneficiated into steel products since the 1970s.”
Pursuant to a Memorandum of Understanding (the “MOU”) between ISA and G4G, upon ISA acquiring the OSRL G4G is required to undertake exploration work and make payments to acquire an interest in certain portions of the area that is subject to the OSRL.
The MOU provides for an initial six month review period. G4G is required to pay $110,000 to ISA to cover the costs of obtaining the OSRL and conduct a review of the exploitation potential of the area within the OSRL. The costs pertaining to the associated mitigation studies, which have been completed, are to be borne 50%-50% by each party up to a maximum of $10,000 for ISA. Should more than six months be required to conduct the review, the time period for review may be extended upon mutual agreement between ISA and G4G for additional six month periods upon payment by G4G to ISA of an additional $110,000 per period. On or before the end of the review period, G4G shall select up to three areas of one hundred square kilometres each that exhibit potential (the “Exploration Areas”), upon which G4G will commit to conducting exploration. G4G shall pay $150,000 and 500,000 common shares of G4G to ISA for each Exploration Area. Each Exploration Area will be covered under an exploration license and G4G shall be responsible for all costs associated with the review of the Exploration Areas and their associated exploration licences.
A maximum three year exploration period will follow the initial review period. In year one, G4G is to conduct exploration to determine whether an exploitable resource exists. G4G will bear all costs associated with the exploration and license of these Exploration Areas. Should a second year be required, ISA and G4G may mutually agree to extend the period for an additional year under the same conditions, upon payment of $250,000 and 1,000,000 common shares of G4G to ISA per Exploration Area. In the event that a third year is required, ISA and G4G may mutually agree to extend the period for a final year, upon payment of $350,000 and 2,000,000 common shares of G4G to ISA for each Exploration Area. On or before the end of the maximum three year exploration period, G4G shall specify one or more areas of twenty square kilometres each, which are potentially suitable for exploitation (the “Exploitation Areas”). Each Exploitation Area shall be covered under an exploitation license. All costs pertaining to the exploitation of the Exploitation Areas is to be the responsibility of G4G.
Following the exploration period, upon mutual agreement between ISA and G4G, G4G shall conduct a scoping study to determine the potential economic viability of the Exploitation Areas for mineral exploitation. The scoping study is to be completed within three years from the date of the MOU. Should three years be insufficient, the time period can be extended by two six month periods by mutual agreement and payment of $100,000 by G4G to ISA for each extension. Further extensions are possible, but their terms are to subject renegotiation between ISA and G4G.
Following the completion of the scoping study, ISA will grant an option whereby G4G, though a subsidiary to be established in Guatemala, may acquire a 50% interest in one or more of the areas on which a bankable feasibility study shall be conducted. In this event, ISA and G4G will enter in a mutually agreeable joint venture agreement for the development and operations of the areas. Any development costs prior to the completion of any bankable feasibility studies are to be borne by G4G. ISA will retain a 2% NSR.
In the event that G4G halts exploration or development on the areas prior to placing them into production, G4G will reassign its interests to ISA and no cost to ISA.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Appoints Raul Sanabria as Vice President Exploration
Vancouver, B.C., May 5, 2010 - G4G Resources Ltd. (“G4G”, the”Company”) (TSX-V: GXG) today announced that Mr. Raul Sanabria, P.Geo. has joined the Company as Vice President Exploration for projects in Central and South America.
President & CEO Basil Botha said, “Raul is the ideal person to have on our team in light of the fact that he has a great deal of experience in exploration and mine geology. In addition, Raul is fluent in Spanish and English. With these credentials, Raul is well qualified to manage G4G’s projects in Central and South America.”
Raul Sanabria has been active in mine geology and mineral exploration in Spain, Western Africa and Canada in a broad variety of mineral deposits. He holds a M.Sc. (Geology/Mineral Resources) from the University of Madrid (Universidad Complutense de Madrid, Spain) and completed a thesis on Iron (Fe-REE) Skarns in SW Spain, is a registered Professional Geoscientist (P.Geo) with the Association of Professional Engineers and Geoscientists of British Columbia, is a Professional Geologist (EurGeol) with the European Federation of Geologists, and holds the title of Professional Geologist (specialist in Mineral Resources) with the ICOG (Spanish Association of Professional Geologists).
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2008 Annual Report filed with SEDAR on April 23, 2009.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Amends Terms on Warrants
VANCOUVER, B.C., CANADA, June 17, 2010 – G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on two groups of warrants issued during its December 2007 and June 2008 private placement financings.
The expiry date of the first group, consisting of 4,000,000 warrants, has been extended to September 30, 2010 from the original expiry date of June 30, 2010. The exercise price of the 4,000,000 warrants remains unchanged at $0.45.
The expiry date of the second group, consisting of 2,000,000 warrants, has also been extended to September 30, 2010 from the original expiry date of June 17, 2010. The exercise price of the warrants remains unchanged at $0.30.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects, including iron sands, alternative fuels and geothermal power.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end financial statements filed with SEDAR on April 30, 2010.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Ltd. Not Proceeding with Acquisition of Geothermal Projects
Vancouver, B.C., June 30, 2010 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) announced today that it will no longer be proceeding with the acquisition of an interest in the Valle del Cura, Tuzgle and Tocomar geothermal projects in Argentina. G4G originally announced the proposed acquisition on February 16, 2010 and then subsequently announced amended terms of the acquisition on April 21, 2010. Under the terms of the acquisition agreement, G4G has notified the vendor that required approvals have not been received for the transaction.
G4G will now focus its attention on the development of iron sands properties in Guatemala, which was announced on May 10, 2010.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of resource projects, including the development of iron sands projects in Guatemala.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 Annual Report filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Ltd. Assigns Sarnia-Lambton Synthetic Fuels Opportunity To AlterNRG Ltd.
Vancouver, British Columbia, June 4thth, 2010: G4G Resources Ltd (“G4G” or the “Company”) (TSX-V: GXG), is pleased to announce that it has entered into an agreement with AlterNRG Ltd of Alberta ("AlterNRG"), whereby G4G has agreed to assign to AlterNRG all of its rights and interests in its Sarnia-Lambton synthetic fuels project.
G4G, through its wholly owned subsidiary, Alternative Fuels Corporation (“AFC”) has been exploring the conversion of various streams of waste into synthetic fuels via the Fischer Tropsch process since August 2008.
AlterNRG, the manufacturer of Westinghouse gasification systems, is acquiring all of G4G’s interests in this project and will leverage the relationships, documentation and business plans developed by AFC over the last 18 months.
AlterNRG initially plans to focus on waste to energy in the Sarnia-Lambton region. Many of the industrial plants in the area are actively looking for sources of “green power”. In 2011, the coal fired Lambton Power Station will be shutting down, further increasing the need for power in the area.
Basil Botha, President and CEO of G4G Resources stated, “Although there is a very real opportunity for businesses with the right technology to convert Ontario’s abundant streams of waste into valuable energy products like liquid fuels and electricity, historically we are a resources business and strategically this area is where we have made a decision to focus our efforts for the foreseeable future.The following are the terms of the agreement between G4G and Alter NRG:
o AlterNRG will acquire all of G4G’s rights and interests in the Sarnia-Lambton synthetic fuels project.
o Payment is in the form of 10 year royalty agreement, where G4G will earn a 1% royalty on future electricity sales up to a maximum of $2,000,000.
o G4G is restricted from entering the waste to energy market in Sarnia Lambton for a period of 1 year
o The royalties are fully assignable.
Investors are cautioned that, except as disclosed in the management information circular and/or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company primarily focused on resource projects in the Americas.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
G4G Resources Provides Updates on Projects
Vancouver, British Colombia, August 6, 2010: G4G Resources Ltd (“G4G” or “the Company”) (TSX-V:GXG) provides the following updates on previously announced projects:
Iron Mineral Beneficiation Services Ltd. (“IMBS”)
The joint venture agreement between G4G and IMBS was originally announced on July 7, 2008. G4G has determined that IMBS’ Finesmelt™ technology is not developed to a sufficient level to warrant pursuing a joint venture with IMBS.
Crusader do Brasil Mineracao Ltda. (“Crusader”)
The agreement between G4G and Crusader was originally announced on July 14, 2008. As the agreement with Crusader was for G4G to identify additional iron ore resources in Brazil to complement G4G’s agreement with IMBS, G4G has discontinued the project due to inactivity with respect to the IMBS project.
Magnetite Holdings SA (Pty) Ltd. (“Magnetite Holdings”)
The signing of the heads of agreement between G4G and Magnetite Holdings was originally announced on August 25, 2008. The agreement required commitment from an end user in order for G4G’s acquisition of Magnetite Holdings to be feasible, which did not materialize. Accordingly, G4G has withdrawn from the project.
University of Witswatersrand (“WITS”)
The signing of the memorandum between G4G and the University of Witswatersrand was originally announced on November 7, 2008. Due to WITS’ inability to provide timely technical support, G4G has accordingly withdrawn from the MOU.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focusing primarily on its iron sands projects in Guatemala.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 audited Financial Statements filed with SEDAR on April 30, 2010.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Provides Update on Guatemala Iron Sands
Vancouver, B.C., August 27, 2010 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) is pleased to provide an update on the Guatemala Iron Sands project which was announced on May 10, 2010.
With the aim of identifying prospective exploration areas within the Off-Shore Reconnaissance License, the Company conducted sampling within an area starting near the Port of San Jose, Guatemala, and extending approximately sixty-eight kilometres to the west. Auger sampling was conducted on the shore line at approximately one kilometre spacing, together with a series of ocean-floor grab samples also spaced at approximately one kilometre and approximately one kilometre parallel to the shore line. All samples were subjected to XRF analysis by ACME and ALS Chemex Laboratories of Vancouver, B.C.
Basil Botha, President and CEO stated, “The auger and ocean floor sample results provide management with a great deal of confidence in the potential of the iron sands in Guatemala. More importantly, the assays highlight several potential target areas for exploration along the 250km shoreline. The reported iron content (Fe2O3) of the titanomagnetite iron sands is similar to other successful iron sands projects and is very encouraging”.
The table below summarizes composite samples taken from a number of sample areas along the shore line and off-shore. The average grade for 28 auger samples on the shore line is 18.06% Fe2O3 and the average grade for 64 ocean floor grab samples is 6.62% Fe2O3.
Recoveries of the on-shore samples produced a 100% recovery and the results are reliable. While recoveries of the off-shore samples were poor, the assay results provide reliable data to delineate areas of potential interest. Due to the sampling methods used, for seafloor sampling resulted in a considerable loss of fine material and only those samples richer in clay and lime produced better recoveries. The data acquired is useful to delineate areas enriched in heavy minerals. Further coring tests should be performed to recover representative samples.
SHORE LINE OCEAN
Sample # Fe2O3 Al2O3 SiO2 MgO TiO2 Fe2O3 Al2O3 SiO2 MgO TiO2
16751 15.59 14.78 48.34 10.15 1.15
16752 12.80 16.76 50.05 7.81 1.00
16753 11.87 17.63 50.71 6.57 0.97
16754 11.77 17.32 50.62 6.76 0.99
16755 11.79 17.29 51.04 6.85 0.97
16756 11.67 17.29 51.27 6.91 0.94
16757 11.13 17.56 51.55 6.30 0.93
16758 12.58 16.76 51.09 7.76 1.00
16759 12.27 16.98 50.58 7.09 1.03
16760 14.03 16.29 49.74 7.88 1.12
16761 16.50 15.32 48.45 8.78 1.34
16762 16.25 15.33 48.18 8.65 1.31
16763 25.58 10.12 42.66 12.44 2.12
16764 25.99 10.00 42.45 11.95 2.19
16765 22.34 9.87 44.90 13.32 1.71
16766 7.80 18.75 49.31 3.11 0.79
16767 13.48 13.62 50.84 10.48 0.92
16768 5.93 16.50 54.85 3.54 0.53
16769 5.48 15.63 56.69 3.46 0.39
16770 18.92 12.24 47.71 10.32 1.47
16771 22.07 12.14 46.01 9.71 1.90
16772 17.02 12.56 49.34 9.64 1.32
16773 20.44 12.21 46.96 9.69 1.69
16774 6.93 19.48 55.32 3.65 0.65
16776 32.76 8.89 37.42 10.99 3.00
16777 28.18 9.84 40.64 10.10 2.53
16778 28.67 9.40 40.38 10.82 2.58
16779 8.01 18.64 49.44 3.46 0.78
16780 7.37 16.83 51.53 3.65 0.67
16781 8.81 17.73 47.00 4.43 0.90
16782 5.86 16.65 55.03 3.30 0.53
16783 7.45 17.54 51.34 3.71 0.72
16784 5.72 10.95 33.20 4.46 0.50
16785 5.29 10.16 30.13 4.54 0.46
16787 6.99 17.22 44.05 3.61 0.73
16789 6.02 15.64 41.50 3.44 0.63
16790 2.56 6.04 16.74 4.20 0.23
16791 8.07 19.38 50.20 3.33 0.78
16792 6.65 16.68 43.80 3.77 0.63
16793 7.88 18.80 47.93 4.08 0.78
16794 7.21 17.47 46.00 4.23 0.65
16795 7.16 17.21 45.27 4.20 0.61
16796 5.16 12.21 34.03 4.35 0.39
16797 5.02 11.31 32.21 4.59 0.40
16798 8.39 17.57 47.39 4.72 0.68
16799 6.70 14.54 41.00 4.74 0.57
16800 8.23 17.33 46.94 4.83 0.71
23001 3.34 7.55 22.14 4.70 0.24
23002 4.38 9.49 27.75 4.73 0.34
23003 7.83 16.01 44.02 4.82 0.66
23004 33.78 8.60 35.00 10.94 3.24
23005 23.50 11.09 42.57 11.01 2.08
23006 14.89 13.77 50.00 8.72 1.27
23007 13.00 15.70 50.85 7.19 1.16
23008 7.91 16.55 46.45 4.87 0.78
23009 7.88 15.67 44.67 4.94 0.74
23010 7.32 15.69 45.46 4.98 0.67
23011 1.93 5.17 14.52 5.22 0.16
23012 7.52 17.70 49.80 4.66 0.76
23013 6.76 18.17 48.26 3.40 0.78
23014 7.68 17.74 49.51 4.56 0.67
23015 6.84 14.68 42.83 4.92 0.61
23016 5.30 13.25 36.81 4.01 0.53
23017 9.21 14.95 42.32 5.78 0.88
23018 4.35 11.11 32.43 4.70 0.37
23019 2.67 7.16 20.97 5.18 0.22
23020 4.68 13.03 32.58 3.60 0.57
23021 6.84 14.28 40.18 4.84 0.69
23022 2.94 8.03 21.06 4.85 0.31
23023 8.21 17.89 49.17 4.47 0.82
23024 5.96 14.50 41.28 4.22 0.60
23025 6.24 16.41 46.01 3.91 0.61
23026 5.44 14.93 41.35 3.72 0.58
23027 5.21 14.18 37.04 3.89 0.55
23028 8.58 17.68 50.37 4.42 0.78
23029 7.10 17.58 51.55 3.67 0.67
23030 7.81 17.86 49.00 3.74 0.71
23031 8.44 17.63 48.84 4.27 0.75
23032 7.44 18.48 50.49 3.24 0.74
23033 7.10 18.83 51.27 2.87 0.79
23034 6.49 18.15 50.00 3.07 0.66
23035 7.59 17.41 48.63 4.46 0.67
23036 7.12 18.78 53.00 3.49 0.63
23037 7.72 18.72 51.41 4.11 0.74
23038 7.52 18.80 51.03 4.16 0.72
23039 6.73 17.96 51.15 3.33 0.61
23040 8.06 18.11 49.95 4.31 0.71
23041 7.27 18.23 51.43 3.79 0.63
23042 7.31 17.74 49.22 4.36 0.65
23043 7.83 17.54 49.47 4.43 0.77
23044 6.82 17.52 50.81 3.94 0.69
AVERAGE 18.06 13.89 47.31 9.02 1.52 6.62 15.59 43.65 4.16 0.62
Samples and assays reported in this news release were collected under the supervision of
Raul Sanabria, P.Geo., who is the Qualified Person for G4G Resources Ltd. under NI 43-101.
Mr. Sanabria has reviewed and verified the technical disclosure contained in this press release.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 Audited Financial Statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Not Proceeding With Anetta Geothermal Property, Argentina
Vancouver, B.C., September 7, 2010 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) announces that it will not pursue the acquisition of the Anetta Geothermal Properties in the province of Salta, Argentina, from Area Geofisica ENG s.a. G4G originally announced the acquisition agreement on December 18, 2010.
G4G is focusing its attention on the development of iron sands properties in Guatemala, which was announced on May 10, 2010.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 Audited Financial Statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
G4G Resources Ltd.
President and CEO
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Ltd. Amends Terms on Warrants
VANCOUVER, B.C., CANADA, September 23, 2010 – G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on two groups of warrants issued during its December 2007 and April 2008 private placement financings.
The expiry date of the first group, consisting of 4,000,000 warrants, has been extended to March 31, 2011 from the original expiry date of September 30, 2010. The exercise price of the 4,000,000 warrants remains unchanged at $0.45.
The expiry date of the second group, consisting of 2,600,000 warrants, has also been extended to March 31, 2011 from the original expiry date of September 30, 2010. The exercise price of the warrants remains unchanged at $0.45.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on the development of iron sands properties in Guatemala.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G and Iron Sands Americas Advance Guatemala Iron Sands Project with Off-Shore Sampling Program
Vancouver, B.C., November 1, 2010 - G4G Resources Ltd. (“G4G”) (TSX-V: GXG) announced today that G4G will conduct a targeted sampling program over an off-shore area of approximately three hundred square kilometers.
This follows the recent extension by the Director General Mining of the Ministry of Energy and Mining in Guatemala of G4G’s Off-Shore Reconnaissance License (“OSRL”). The OSRL covers 2500 square kilometers along Guatemala’s entire Pacific coastline. G4G’s earlier reconnaissance work in the area has highlighted several highly prospective locations with higher concentrations of magnetite. These areas will now be explored further under the sampling program.
The sampling program will begin in November with the goal of providing G4G with sufficient data to conclude XRF analysis, which is an extremely robust technique for major and minor elemental analysis in complex mineralization and offers highly precise and accurate results for iron ore samples and Davis Tube yield tests, which is used to determine the magnetic content of the iron ore and can be used to help forecast potential commercial recovery. The prime objective of the work program is to produce an inferred resource estimate. The main geological targets will be paleo rivers and paleo beach heads formed when sea levels were much lower.
“G4G Resources is extraordinarily well placed to help meet the expected global shortage of quality iron ore,” said Basil Botha, President and CEO of G4G. “Iron sands mining operations have been shown globally to be among the lowest cash costs per tonne of iron ore mining operations and we want to take advantage of this. The fact that we are on the Pacific Ocean also means transport logistics suffer none of the constraints and costs faced by many of the inland hard rock miners.”
“It is anticipated that the iron sands extraction will be a simple operation using an off-shore dredge combined with an off-shore beneficiation plant. Iron sands will be dredged, processed and dewatered in the beneficiation plant and then loaded onto vessels off-shore, for direct shipment to Asia. We expect that virtually no additional on-shore infrastructure will be needed to bring this project into production.”
Mr. Botha also said; “G4G’s management team is extremely well qualified in the mining arena and has specific industry experience in iron ore. The potential also exists to develop an integrated steel mill using local iron sands as feedstock. This is an exciting opportunity to make a valuable contribution to the development of Guatemala’s natural resources asset base.”
G4G is committed to conducting all its activities in a safe and environmentally sustainable manner and engaging proactively with local communities and authorities with respect to all relevant economic, environmental and social issues.
Guatemala’s iron sands span the entire western coastline, from El Salvador in the east to Mexico in the west. Guatemala’s 33 inland volcanoes (3 active, the others inactive) have deposited iron rich residue on the surrounding area, from where it is continuously carried down to the coastal plains into the ocean by the river systems.
The sampling program will be conducted under the supervision of Raul Sanabria, P.Geo., who is the Qualified Person for G4G Resources Ltd. under N1 43-101.
Please click HERE to download G4G's iron sands presentation. Enter username downloads and password g4g2010.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
Tel: (604) 602-9868
G4G Resources Initiates Work Program on Vancouver Island Porphyry-Copper-Gold Properties
Vancouver, B.C., December 2, 2010 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) announced today that it plans to conduct a work program in order to better define its porphyry-copper-gold-silver properties located within ten kilometres of Port Alberni on Vancouver Island.
G4G will conduct a systematic mapping and geophysics program on the Macktush and Dauntless properties, which cover an area of 10,185 hectares. The Macktush property was acquired by the Company in 1987 and subsequent staking added the Dauntless property into the portfolio. G4G holds 100% of the Vancouver Island properties which total 13, 550 hectares.
Basil Botha, President and CEO of G4G remarked, “Our Port Alberni properties host excellent exploration targets for both high grade and bulk mineable deposits. In 1987 ten drillholes were completed. Hole DDH87-03 intersected 44.23 g/t gold, 172.80 g/t silver and 0.95% copper over 3.81 metres (Interval 36.59-40.39 metres) .”
“Management believes that our properties in the Port Alberni area have a good chance of hosting mineralization similar to the Island Copper District, which hosts porphyry-copper-gold mineralization directly related to mesozonal to epizonal intrusions,” continued Mr. Botha. “BHP’s Island Copper mine, operated from 1971 to 1995, produced 1.3 million tonnes of copper, 31,000 tonnes of molybdenum, 340 million grams of silver and 32 million grams of gold (BHP, 1996) from a Copper-Molybdenum-Gold porphyry deposit. G4G’s gold properties on Vancouver Island are accessible by road and are in close proximity to infrastructure.”
G4G will focus on the "Rex" area (MINFILE 092F221), which the Company considers to be the most prospective un-drilled exploration target on the Macktush property at this time. The large aerial extents of the geophysical response, the alteration signature, and the sulphide mineralization along with the combination of elevated multiple geochemical indicators could represent the halo near a porphyry copper-molybdenum-gold. The geological setting is similar to that of past producing Island Copper Mine on Vancouver Island and will be used as a mineral deposit model for G4G’s properties. The Rex area could also represent the source of high-grade vein-type gold-silver-copper mineralization seen nearby and drilled in past exploration campaigns.
|
Hole |
Interval (m) |
Length(m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
|
DDH87-01 |
109.58-110.72 |
1.14 |
5.97 |
2.06 |
0.03 |
|
DDH87-03 |
33.50-34.29 |
0.79 |
3.84 |
16.46 |
0.80 |
|
|
36.59-40.39 |
3.81 |
44.23 |
172.80 |
0.95 |
|
DDH87-08 |
71.63-72.88 |
1.25 |
9.94 |
1.71 |
0.03 |
|
DDH88-05 |
47.22-48.80 |
1.58 |
0.21 |
3.09 |
0.02 |
Both the Island Copper district and the Port Alberni district are underlain by volcanic rocks of the same age and potentially host similar styles of mineralization.
All the properties have been explored primarily for gold, copper molybdenum and silver, targeting porphyry, skarn and epithermal vein type deposits. The contiguous block forming the Macktush, Dauntless and MC properties have NI 43-101 compliant indicated resources. Please see the news release dated March 19, 2007 from SYMC Resources Ltd. (G4G’s previous name) and the following table. The news release can be accessed on SEDAR under the name of G4G Resources Ltd. or on G4G’s website at www.g4gresources.com
Vein/Zone Tonnes Gold g/t Silver g/t Cu % Category Tech. Report
David 16,278 5.65 25.6 0.31 Indicated 28/02/2007
Fred 65,475 13.91 48.1 0.59 Indicated 26/02/2007
Zinc 35,710 8.97 44.5 0.57 Indicated 26/01/2007
Jack 13,994 2.00 0.8 0.02 Indicated 26/01/2007
Moly 504 4.27 1.5 0.01 Indicated 26/01/2007
Dauntless N. 14,171 0.04 6.2 2.05 Indicated 28/02/2007
Herbert Jr. 8,479 0.12 6.7 5.16 Indicated 28/02/2007
Tasha 20,423 0.01 0.6 0.16 Indicated 28/02/2007
MC1 21,851 0.26 6.9 0.43 Indicated 26/01/2007
MC2 138,499 0.33 5.2 0.47 Indicated 26/01/2007
MC3 17,618 0.38 1.0 0.05 Indicated 26/01/2007
G4G Resources has an extensive database of the projects and after its revision is planning to conduct systematic work programs on all the properties to determine their overall potential. Work completed to date consists primarily of prospecting, hand trenching, airborne geophysics and diamond drilling.
The geological information in the news release has been verified by Raul Sanabria, P.Geo., who is the Qualified Person for G4G Resources Ltd. under NI 43-101.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
G4G’s latest corporate presentation can be viewed at www.g4gresources.com
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Completes Dissolution of Alternative Fuels Corporation
Vancouver, B.C., December 17, 2010 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) announced today that as of December 7, 2010, it has completed the dissolution of its wholly owned subsidiary, Alternative Fuels Corporation (“AFC”). AFC has no property to distribute among its shareholders and there are no proceedings pending in any court against AFC.
G4G first announced its planned dissolution of Alternative Fuels Corporation in its 2010 second quarter financial statements and Management Discussion & Analysis, after AFC had assigned all of its rights and interests in its Sarnia-Lambton synthetic fuels project, which was developed by AFC, to AlterNRG Ltd., allowing G4G to earn a 1% royalty on future electricity sales up to $2,000,000. G4G made the decision to dissolve AFC to focus on the development of its iron sands projects.
This dissolution will have minimal impact on G4G’s consolidated financial statements for the year ending December 31, 2010.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
G4G’s latest corporate presentation can be viewed at http://www.g4gresources.com
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Announces Changes to Board of Directors
Vancouver, B.C., January 21, 2011 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) Peter Arendt has resigned as Chief Financial Officer, Chief Operating Officer and as a member of the Board of Directors effective January 31, 2011. Mr. Paul McNaughton, a member of the Board of Directors, will take over the role of Chief Financial Officer in the interim.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
G4G’s latest corporate presentation can be viewed at www.g4gresources.com
Forward Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Resources Announces Updates to Board of Directors
Vancouver, B.C., February 18, 2011 - G4G Resources Ltd. (“G4G”, “the Company”) (TSX-V: GXG) announced today that it has appointed Mr. Paul Sarjeant to its Board of Directors.
Mr. Sarjeant is a Professional Geologist who has been involved in mineral exploration and development in North and South America and throughout Africa, Asia and Europe for more than 25 years. He spent over 13 years with Echo Bay Mines, lastly as Senior Geologist, International Exploration Group responsible for project evaluations. Most recently he serves as President & CEO of Grandview Gold. Mr. Sarjeant holds a Bachelor of Science (Honours) degree in geological sciences from Queen’s University in Kingston, Ontario and is a member of the Association of Professional Geoscientists of Ontario. Mr. Sarjeant also serves as a director/consultant to a number of private and public mining companies.
“The addition of Paul Sarjeant to the Board of Directors is a great step forward,” stated Basil Botha, President and CEO of G4G Resources Ltd. “The experience he brings will prove to be an invaluable asset to the company as G4G moves ahead with its project in Guatemala.”
The appointment of Mr. Sarjeant follows the resignation of Peter Arendt, as announced on January 21, 2011.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
G4G’s latest corporate presentation can be viewed at www.g4gresources.com
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Should you wish to receive Company news via email, please email and specify "G4G News" in the subject line.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
Tel: (604) 602-9868
Email:
Website: www.g4gresources.com
G4G Amends Terms on Warrants
VANCOUVER, B.C., CANADA, March 30, 2011 – G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on two groups of warrants issued during its December 2007 and April 2008 private placement financings.
The expiry date of the first group, consisting of 4,000,000 warrants, has been extended to September 30, 2011 from the original expiry date of March 31, 2011. The exercise price of the 4,000,000 warrants remains unchanged at $0.45.
The expiry date of the second group, consisting of 2,600,000 warrants, has also been extended to September 30, 2011 from the original expiry date of March 31, 2011. The exercise price of the warrants remains unchanged at $0.45.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Amends Terms on Warrants
VANCOUVER, B.C., CANADA, May 11, 2011 – G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on 5,000,000 warrants issued during its May 2009 private placement financing.
The expiry date of the warrants has been extended to September 30, 2011 from their original expiry date of May 4, 2011. The exercise price of the warrants remains unchanged at $0.15.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
Email:
Website: www.g4gresources.com
G4G Resources Ltd. Amends Terms on Warrants
VANCOUVER, BRITISH COLUMBIA -- G4G Resources Ltd. (TSX VENTURE:GXG) announced today that it has amended the terms on 2,000,000 warrants issued during its June 2009 private placement financing.
The expiry date of the warrants has been extended to September 30, 2011 from their original expiry date of June 17, 2011. The exercise price of the warrants remains unchanged at $0.30.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
G4G Resources Ltd. Enters Into An Option Agreement With Almaden Minerals Ltd.
VANCOUVER, BRITISH COLUMBIA -- G4G Resources Ltd. (TSX VENTURE:GXG) ("G4G") is pleased to announce that it has entered into an option agreement with Almaden Minerals Ltd. ("Almaden") pursuant to which G4G has the option to acquire a 60% legal and beneficial interest in a property. The property includes 28 mining claims located on the Yago property in the state of Nayarit, Mexico on approximately 22,898.2 hectares.
To earn its interest in the property, G4G is required to:
1. Pay CAD$50,000 and issue 500,000 common shares of G4G to Almaden within five (5) business days of acceptance of this transaction by the TSX Venture Exchange;
2. Complete an aggregate of US$6,000,000 in exploration expenditures on the property over a five year period (of which US$500,000 must be incurred in the first year); and
3. Make aggregate payments to Almaden of 2,500,000 common shares of G4G (of which 500,000 must be issued in the first year) at a deemed price of $0.07 per share.
Following G4G earning its 60% interest in the property, G4G may elect to earn a further 10% interest in the property by completing a bankable feasibility study within seven years of the date of the option agreement. Upon G4G earning its 60% interest in the property, G4G and Almaden shall form a joint venture with G4G continuing to act as the operator. Should G4G earn 60% but not complete a bankable feasibility study within this timeframe, G4G would be required to pay Almaden 2,000,000 common shares of G4G and a 60/40 joint venture would then be entered into.
The Option Agreement remains subject to required approvals by Almaden's board of directors and the TSX Venture Exchange.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects and copper-gold projects on Vancouver Island.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For further information please contact:
Basil Botha
Presdient & CEO
G4G Resources Ltd.
604-602-9868
604-602-9867 (FAX)
www.g4gresources.com
G4G Resources Announces Granting of Options
G4G Resources Ltd. (TSX VENTURE:GXG) ("G4G") announces the granting of options to purchase 150,000 common shares of G4G at an exercise price of $0.075 and valid for a period of five years to a director of G4G, subject to regulatory approval.
About G4G Resources
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects and copper-gold projects on Vancouver Island.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
604-602-9868
604-602-9867 (FAX)
www.g4gresources.com
G4G Resources Provides Update on Iron Sands Project, Guatemala
G4G Resources Ltd. (TSX VENTURE:GXG) ("G4G", "the Company") is pleased to provide an update on the Guatemala Iron Sands project originally announced on May 10, 2010.
On November 1, 2010, G4G announced that it would conduct a targeted sampling program over an off-shore area of approximately three hundred square kilometres, following the extension of the Off-Shore Reconnaissance License ("OSRL") announced on October 7, 2010. The OSRL covers 2500 square kilometers along Guatemala's entire Pacific coastline. Please see the news release dated November 1, 2010 for details.
The OSRL had been extended for a further six months to April 2011 to enable G4G and ISA to continue the application for exploration licenses and to conduct a preliminary environmental impact assessment study.
Due to the continuance of the environmental impact assessment study, management has determined it prudent not to proceed with the off-shore sampling program until such time as the exploration application has been approved by the Ministry of Energy and Mines, Guatemala.
About G4G Resources
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects and copper-gold projects on Vancouver Island.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For more information, please contact:
Basil Botha
President and CEO
G4G Resources Ltd.
604-602-9868
604-602-9867 (FAX)
www.g4gresources.com
G4G and Almaden Minerals JV on Historically Mined Yago Property, Mexico
G4G Resources Ltd. (TSX VENTURE:GXG) ("G4G") pursuant to the announcement of the joint venture agreement with Almaden Minerals Ltd. ("Almaden") on June 22, 2011, G4G has the option to acquire a 60% legal and beneficial interest in the Yago gold-silver property and an additional 10% interest in the property by completing a Bankable Feasibility Study within seven years of the date of the option agreement.
Historic underground mining at Yago was conducted by a Japanese firm during the late 1800's and early 1900's (Sandberg, 1999). These operations are presumed to have been disrupted by the period of the Mexican revolution from 1910 to 1912 and never resumed. A Mexican mining company, CIA Minera Nueva Vizcaya S.A.de C.V. exploited several veins and carried out limited mining in the La Sarda Vein during the period 1995 to 1999.
The Yago property includes 28 mining claims located in the state of Nayarit, Mexico on approximately 22,898.2 hectares. Historical mining of the La Sarda vein was mined approximately 100 vertical metres and 600 metres along strike. Three high grade ore shoots were identified:
- La Sarda Shoot: 140 metres long
- The San Juan Shoot: 150 metres long
- The Santo Domingo Shoot: 75 metres long
The average width of these three shoots was 1.64 metres with average grades of 10.98 g/t gold and 153 g/t silver. Between levels 175 and 185 a small high grade (bonanza type) shoot was mined and assayed 1 kg/t gold and 20 kg/t silver (Valtierra, GA., February 2000).
"There are a number of positive aspects which make the Yago property an attractive gold-silver target, which meet G4G's objectives;
- The property is road accessible,
- The ability to work year round,
- The availability of labour within 3 km of the town of Yago,
- The property is drill ready.
...and with all the comprehensive work that has already been completed on the property, this is by no means a grass roots project. All these positive aspects will help us move quickly toward our objective for the next 12 months," said Basil Botha, President & CEO of G4G Resources Ltd.
Project Details
The Yago property is located in the state of Nayarit, on the Pacific coast of Mexico, approximately 100 km northeast of Puerto Vallarta, 240 km northwest of Guadalajara, Jalisco and 200 km southeast of Mazatlan. The town of Yago is located 3 km to the southeast of the Property on Highway 15. This highway runs along the west coast of Mexico and is one of the major thoroughfares from the United States to Mexico. Yago is located roughly 50 kilometres north of the industrial centre of Tepic on this highway. Numerous good quality gravel roads provide year round access to the Yago property.
The Yago project covers a large area of hydrothermal alteration characterized by "steam heated" acid-sulphate kaolinite-alunite alteration and spatially associated stratiform replacement silica alteration. Both these styles of alteration occupy areas of relatively higher relief on the property and are interpreted to represent the original surface or paleo water table of the hydrothermal system.
In areas of erosion beneath these styles of alteration, quartz veins are exposed that exhibit classic low-sulphidation epithermal textures such as banded, colloform and crustiform chalcedony and quartz crystallized from amorphous silica. Based on fluid inclusion analyses, alteration mineralogy and geochemical data gathered, the veins identified are interpreted to represent a very shallowly eroded epithermal gold-silver system. This interpretation is consistent with the empirical observation that grades appear to increase with depth. The high-grade, banded quartz-adularia veins and stockwork veined country rocks recognised in the La Sarda area bear many similarities to Sleeper, Nevada, McLaughlin, California, Hishikari, Japan and Golden Cross and Martha Hill, New Zealand, all of which were or are significant gold producers, and exposed veins in shallowly eroded hydrothermal alteration systems, similar to that recognised at La Sarda. Ore shoots in such veins commonly exhibit strong vertical control. Establishing a shallow depth of erosion is therefore important in predicting the presence of ore shoots at depth in quartz-adularia vein systems.
The northern half of the Yago project is underlain by a series of at least five low-sulphidation epithermal veins named the La Sarda-San Juan, La Esperanza, La Magnolia, La Cucaracha and El Dragon. These structures are sub-parallel, southwest-dipping quartz-adularia veins that occur over an area of 1500 by 1200 metres.
Bonanza grades have been mined to the lowest levels in these workings, where both widths and grades increase. On the bottom levels, veining has coalesced into wider, stronger vein structures and grades become less erratic as consistent grades in mineralized shoots have been exposed. Surface sampling and inspection of the limited exploration workings on the other known, parallel banded quartz-adularia veins indicates that these veins also have the potential to host high-grade ore-shoots, similar to those of the La Sarda vein.
The Esperanza vein system is parallel to, and is located roughly 500 meters east of the La Sarda-San Juan vein. This vein structure was mined selectively following the high grade shoots. Three high grade shoots were mined, being the average grades 1.12 metres with 8.13 g/t Au and 68.73 g/t Ag.
Four grab rock samples of outcrop have been taken recently by an independent geologist on the Esperanza vein. These samples average 14.6 g/t Au and 167.1 g/t Ag and range from 4.9 to 23.3 g/t Au and 121.8 to 249.8 g/t Ag. The Esperanza vein has been traced over a strike length of over a kilometre.
The La Cucaracha vein is exposed in a single adit, about 40 meters in length from which several raises are driven to surface, 10 to 20 meters above. The workings have exposed the stratiform opaline replacement silicification, and a zone of quartz veining immediately beneath it.
Mineralization at La Cucaracha is associated with this veining and with structurally controlled zones of interlayered clay and pyrite alteration. Grab samples of muck from blasts have returned gold values up to 20 g/t Au.
The Magnolia vein system is exposed in two levels to a depth of 50 meters and along strike for roughly 200 meters. Erratic but very high gold and silver grades have been intersected in the limited workings, being silver grades considerably higher than in La Sarda or Esperanza veins. The average width of the mined shoot was 0.97m with 4.44 g/t Au and 546 g/t Ag.
Essentially no work has been done on the El Dragon vein system, however multi-gram gold grab samples have been taken from surface outcrop.
An IP geophysical survey has been carried out over this part of the property. This survey was particularly effective in delineating these structures as resistivity highs and extended the potential strike length of the La Sarda-San Juan Vein by 260 metres to the northeast. The resistivity high representing the vein extended to the northern boundary of the IP survey area. Subsequent prospecting identified banded chalcedonic quartz veining 550 metres northwest of the La Sarda-San Juan Vein workings.
To the southwest, the separate Carretera zone covers an area of banded quartz veining thought to represent the upper reaches of another epithermal vein system several kilometres from the other veins on the property. On January 7th, 2010, Almaden announced forty-five new rock-chip samples of quartz vein material taken from surface of float and outcrop at the Carretera Zone which returned gold values from 0.005 to 18.85 g/t gold and less than detection to 871 g/t silver. Earlier, in 2009, an IP and soil sampling survey was carried out at the Carretera Zone which helped define the vein system for the 2010 surface sampling program. A total of 62 samples have been taken by Almaden from the Carretera zone, and these average 2 g/t gold, ranging from 0.005 to 104 g/t gold. The Carretera zone of quartz vein float has a known strike length of over 2 kilometers.
The geological information in the news release has been verified by Raul Sanabria, P.Geo., who is the Qualified Person for G4G Resources Ltd. under NI 43-101.
The Qualified Person states that the above numbers have not being verified independently. These are only given as historical data and are believed not to have followed current QA/QC protocols and NI 43-101 standards.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects and copper-gold properties on Vancouver Island.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For more information, please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
(604) 602-9868
(604) 602-9867 (FAX)
www.g4gresources.com
G4G Resources Ltd. Amends Terms on Warrants
G4G Resources Ltd. (TSX.V: GXG) announced today that it has amended the terms on four groups of warrants issued during its December 2007, April 2008, March 2009 and May 2009 private placement financings.
The expiry date of the first group, consisting of 4,000,000 warrants, has been extended to December 15, 2011 from the original expiry date of September 30, 2011. The exercise price of the 4,000,000 warrants remains unchanged at $0.45.
The expiry date of the second group, consisting of 2,600,000 warrants, has also been extended to December 15, 2011 from the original expiry date of September 30, 2011. The exercise price of the warrants remains unchanged at $0.45.
The expiry date of the third group, consisting of 5,000,000 warrants, has also been extended to December 15, 2011 from the original expiry date of September 30, 2011. The exercise price of the warrants remains unchanged at $0.15.
The expiry date of the fourth group, consisting of 2,000,000, has also been extended to December 15, 2011 from the original expiry date of September 30, 2011. The exercise price of the warrants remains unchanged at $0.30.
Each warrant, upon exercise, entitles the holder to acquire an additional common share of G4G Resources Ltd.
About G4G Resources Ltd.
G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects and copper-gold properties on Vancouver Island.
Forward-Looking Statement
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2010 year end audited financial statements filed with SEDAR on April 28, 2011.
Neither the 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.
For further information please contact:
Basil Botha
President & CEO
G4G Resources Ltd.
604-602-9868
www.g4gresources.com
