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Saturday, March 22, 2008

Mining’s influence Industry continues to help build Alaska

The biennial gathering of miners and mining industry movers and shakers for the Fairbanks Alaska Mining Conference provides a consistent reminder for the people of this region about the importance of an activity that sometimes is taken for granted.

Fairbanks is a town built on gold, located in a state transformed and continually fueled by mineral exploration and resource development. Call it an obvious statement from a newspaper with “miner” in its name, but in the recent political climate it feels worthy to note that miners are welcome and appreciated here.

The mining industry in our state annually pumps billions of dollars into local economies and continually holds the promise of job creation and economic development in the most remote areas of our state. Few other economic engines — if any — hold as much potential. Consider Pogo Mine development and the community of Delta Junction or Usibelli Coal Mine and Healy as perfect examples.

This is not all about the largest corporations and biggest mines, however.

Full Article

Wednesday, March 19, 2008

Little Squaw's Chandalar Gold Deposit Indicated as Economically Viable

Little Squaw Gold Mining Company (OTCBB: LITS) ($0.69) ("Little Squaw" or "the Company") has received draft results of an independent economic scoping study on its alluvial gold deposit discovery in the Little Squaw Creek drainage located on the Company's wholly owned Chandalar, Alaska, mining property. The study concludes gold-bearing gravels contain a minimum of 231,000 ounces of recoverable gold that could be extracted at a cash cost of $442 per ounce and a full cost of $711 per ounce. The Company believes the deposit can be substantially expanded through additional drilling and that an increase in its size would significantly increase profitable mine life and lower unit costs.

The scoping study examines an open-pit mine plan that would begin with production at 30,000 ounces of gold per year and yield an average of 21,000 ounces of gold per year over an 11-year mine life. Required start-up capital is estimated at $17.9 million with life-of-mine capital costs at $30.6 million. Cash flow analyses run at $900-per-ounce gold show a 33 percent internal rate of return on capital investment with a 3.6-year payback. Cumulative net revenues are projected to total $204 million (after transport cost deduction and refining losses), net cash flow projection totals $44 million and the net present value of cash flow projection totals $12 million using a 15 percent discount rate. The scoping study was done by a consulting licensed mining engineer experienced in the operation of alluvial gold mines.

Richard Walters, President of the Company, said, "It is my opinion that we have discovered a commercially viable, industrial-scale alluvial gold deposit that is geologically unique to Alaska but is similar to the big alluvial gold deposits being mined in neighboring Siberia."

Robert Pate, Chief Operating Officer of the Company, confirmed, "We have defined more than 8 million cubic yards of near-surface pay gravels where we can gain the economies of scale in a surface bulk-mining operation. This amount could double as drilling progresses."

Chief Financial Officer of the Company, Ted Sharp, added, "We believe that when investors apply even simple arithmetic, they will see Little Squaw as the great value-buy opportunity we think our stock represents."

The Company does not purport to have a U.S. Securities and Exchange Industry Guide 7 compliant mineral resource. It does, however, believe that the quantity of mineralized material as defined in the scoping study falls within the definition of resource classifications by the Canadian Institute of Mining.

The Company is proceeding with more in-depth engineering studies as it prepares for an aggressive summer drilling program which will be financed by a private placement offering. The Company believes its Chandalar alluvial gold deposit can be streamlined into production because it does not require the use and permitting of milling, chemicals and tailings ponds in the gold recovery process.

Richard Walters, President of Little Squaw, wrote this news release; the Company is responsible for its contents. For additional information regarding Little Squaw, contact Susan Schenk, Manager of Investor Relations: telephone (509) 535-6156; e-mail Little Squaw maintains a comprehensive Web site at

Little Squaw Gold Mining is engaged in the business of precious-metals discovery. This endeavor carries certain risks that are commensurate with the potential rewards of such efforts. These risks cannot be quantified and should not be taken lightly. All statements made here regarding the firm's investment potential should be considered "forward-looking statements" as defined by prevailing regulatory guidelines. As forward-looking statements, these items represent the measured professional judgment of management. They do not, however, represent guarantees, and unforeseen and/or unforeseeable future developments that may render them either incomplete or incorrect. Actual results, plans, programs, and financial performance may differ materially from express or implied forward-looking statements.

For additional information regarding Little Squaw, contact:
Susan Schenk
Manager of Investor Relations
telephone (509) 535-6156

Monday, March 17, 2008

Linux Gold Corp. Receives New Technical Report on the Granite Mountain Property in Western Alaska

VANCOUVER - (Business Wire) Linux Gold Corp. (OTCBB:LNXGF) John Robertson, President of Linux Gold Corp., is pleased to announce that a new 43-101 technical report, for the Granite Mountain Property in western Alaska, and the consent of the author of the report, was filed February 7, 2008 on SEDAR (

The Granite Mountain property consists of 276 State of Alaska MTRSC quarter-section mining claims (160 acres each), within seven contiguous claim blocks, recorded in the Cape Nome Recording District. These claims cover approximately 179sqkm. The property is located in western, Alaska, at the east edge of the Seward Peninsula, approximately 240km east-northeast of Nome, and approximately 640 km west of Fairbanks.

The report’s author proposes that further exploration on the Property be conducted in two phases. These phases include a surface exploration program (Phase 1, estimated $504,064 CAN$), and, contingent on encouraging results, a follow-up exploration drilling program (Phase 2, estimated 325,238 CAN$). The total estimated cost of the proposed programs is $829,302 (CAN$).

Phase 1

Surface exploration program which includes rock sampling and geologic mapping of the known prospects, grid base auger drilling, soil sampling, trenching and rock chip sampling, airborne geophysical survey and additional ground geophysical surveys.

Phase 2

Conduct a 6 hole diamond drill program of 3,600 ft (1,097 meters) to test several known mineralized areas and newly discovered drill targets from the Phase 1 surface exploration program.

The full 43-101 technical report can be viewed at:

It is also available on the Company’s website at


Polymetallic mineralization within the Granite Mountain property occurs at numerous locations on the property and in several distinct styles. Extremely limited outcrop exposures have made it difficult to assess the surface extent of mineralization at these locations. Most significant lode and placer occurrences known to date are located on the western portion of the Granite Mountain property, within a broad north-northwest trending mineralization-alteration zone known as the “Kiwalik trend”. In the late 1960’s, USGS geologists first recognized this zone as being spatially associated with the Quartz Creek Pluton and several northwest trending fault structures. Alteration which defines this zone includes widespread propylitic alteration of volcanic rocks and local intense quartz-sericite, carbonate and tourmaline alteration. Polymetallic mineralization, found on the eastern portion of the Granite Mountain property, associated with the Peace River Stock, has a slightly different style and geochemical signature.

The report’s author, Mr. David Adams, is a Qualified Person as defined by National Instrument 43-101. He is a Certified Professional Geologist (American Institute of Professional Geologists #7586), and a member of the Society of Economic Geologists, the Association for Mineral Exploration in B.C, the Alaska Miners Association and the Geological Society of America.


Linux Gold Corp. is involved in exploration of mineral properties. Our current plans are to joint venture and explore our mineral properties in Northern B.C., Alaska and China. Linux Gold Corp. owns 284 State of Alaska mining claims at several locations near Granite Mountain on the eastern Seward Peninsula of Alaska. The Company has acquired a 100% interest in the TY and ORO properties in B.C. Linux Gold Corp. also owns a 50% interest in 30 mineral claims known as the Fish Creek Prospect, located in the Fairbanks Mining Division in Alaska. Linux Gold Corp. optioned a 50% interest in the Fish Creek claims to Teryl Resources Corp. (TRC-V), retaining a 5% net smelter return or may convert into a 25% working interest. Linux has also staked mineral exploration claims covering 6,400 acres in the Livengood-Tolovana Mining District, in the State of Alaska.

For more information please visit


"John Robertson"


This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Linux, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at, and the Company’s 20-F annual report filed with the United States Securities and Exchange Commission at Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.

Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Linux Gold Corp.
John Robertson, 800-665-4616

Bravo Venture Group Inc.: Woewodski Program Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2008) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today the company has acquired 100% interest in the Woewodski Island VMS project in southeast Alaska following successful re-negotiation of certain terms in an underlying agreement with the vendors of the property. The company also reported results of the company's 2007 exploration program.

Bravo's ownership is subject to a 3% NSR royalty on all metals, of which 1% can be purchased for US$1MM any time prior to production and another 1% can be purchased at any time for US$1.5MM. The property would be subject to a total of 1% NSR if both reductions are purchased. No further cash payments are due, but there is a work commitment of US$250,000 in 2008.

The company reported that it completed detailed gravity and 3D IP geophysical surveys and two core holes totaling 432.6 metres at the East Lake target, where previous drilling encountered mineralized boulders of massive sphalerite (hole EL04-01) and several horizons of semi-massive pyrite and fine grained black to grey argillite. Both holes (WW07-034 and -035) contained +16m thick downhole intervals of anomalous Ag (greater than 1ppm) and Zn (greater than 0.1%) with associated anomalous, but less continuous, Ba and Au values, indicating that a long-lived and widespread plume of VMS-style mineralization was active during deposition of the sedimentary and volcaniclastic sequence.

Significantly, intervals of black argillite occur within the mineralized horizons and elsewhere throughout the stratigraphy of the East Lake basin which are interpreted as equivalent to the "Mine Argillite", which hosts Hecla's Greens Creek deposit (current reserves - Hecla Mining Company: 7.68 million tons grading 14opt Ag, 0.11opt Au, 10.4% Zn, and 4% Pb), located 145 kilometres to the north. The majority of the planned 2008 work program will consist of shallow "Winkie" core holes that will provide data for metal zoning and basin reconstruction within the "Mine Argillite" at Woewodski.

Much of the 2007 exploration program focused on several gold prospects along the western and southern margins of Woewodski Island where 33 relatively short core holes were drilled for a total of 2,541 metres. Drilling targeted gold-quartz veins which occur within broad, up to 10 metre thick, strongly carbonate altered shears. Quartz veins were intersected in many of these holes. Higher grade results include: 1.13 metres grading 4.0g/t Au, and 0.73 metres grading 7.2 g/t Au; however, the high gold grades obtained in surface samples were not obtained in drill core(1). No further work is planned on these veins at this time.

Woewodski Island

The VMS Woewodski Island Project includes 501 Federal claims and three State claims covering 3,260 hectares in southeast Alaska. This "deep-water, tide-water" accessible property is located approximately 30km SSW of Petersburg with multiple targets hosted within the same volcanic-sedimentary rocks that host the Green's Creek, Alaska and Windy Craggy, British Columbia VMS deposits.

About Bravo Venture Group Inc.

Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. The Homestake Ridge and Silver Basin projects in British Columbia are gold-rich epithermal/VMS-related vein systems within Eskay Creek/Silbak-Premier stratigraphy.

(1) Downhole mineralized intervals are reported. True thicknesses of the horizons are estimated to be greater than 90% of the downhole thickness.

Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board of Directors

Joseph Kizis Jr. Director, President, Bravo Venture Group Inc.

We seek safe harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

For more information, please contact
Bravo Venture Group Inc.
Jay Oness
1-888-456-1112 or (604) 684-9384

Residents suing over proposed Chuitna coal mine

by Rebecca Palsha
Monday, March 17, 2008

ANCHORAGE, Alaska -- Chuitna River residents are going to court to fight a coal mine being built in their area.

Residents filed an appeal with the Alaska Superior Court Monday.

The suit challenges Natural Resources Commissioner Tom Irwin's refusal to consider a petition designating land within the Chuitna River watershed as unsuitable for surface coal mining.

Delaware-based Packrim Coal wants to develop the area on the west side of Cook Inlet, about 45 miles from Anchorage.

Full Story

Wednesday, March 12, 2008

Clean Water Initiatives approved but court battle looms

The state announced this afternoon that the two versions of the Clean Water initiatives have received enough valid signatures from Alaska voters to qualify for the statewide election ballot in August.
The intiatives are an effort to set new rules for large metallic mines, banning them from discharging anything toxic into salmon streams or drinking water sources.
Ordinarily, getting enough signatures means that the initiatives will get on the ballot.
But the initiatives are embroiled in a legal battle over their constitutionality.
The initiative sponsors and their adversaries in the mining industry say they plan to take that battle to the state Supreme Court.

ADN Mining Blog

Little Squaw’s Big Gold Potential

By Eric Pratt
Mar, 12th

Its not often one discovers an OTC-listed mining company that has a board of directors and management team with the caliber and pedigree of Little Squaw Gold Mining Company (OTCBB:LITS).

The president, Richard Walters, besides being a certified professional geologist with the American Institute of Professional Geologists and a Qualified Person as defined in National Instrument 43-101, was also a founder, director, president and chief operating officer of Yamana Resources Inc. the forerunner to Yamana Gold Inc., (TSX:YRI) between December 1994 and March 2000. He also serves as a director and executive vice-president of Marifil Mines Ltd. (TSX.V:MFM).

Rodney Blakestad, the vice-president of exploration, has in his thirty years as a geologist worked with Columbia Metals Corp. (TSX.V:COL), Nevada Star (now Pure Nickel - TSX:NIC), and Robex Resources (now Robex Gold – TSX.V:RBX). He is credited in part with the discovery of the 4 million ounce Fort Knox Gold Mine, now owned by Kinross Gold Corporation (TSX:KGC).

Robert Pate, the company’s vice-president of operations, is also a 30 year veteran of mine operation and mineral exploration having served with Yamana Resources, Freeport Copper (a division of Freeport McMoran – NYSE: FCX) , Coeur d’Alene Mines (NYSE:CDE), and Atlas Precious Metals were he was the chief geologist at the Gold Bar Mine in Nevada. At Freeport, he was a senior supervisor of the huge Grassberg Indonesia copper/ gold mine.

Full Article

Linux Gold Corp. Announces Drilling Program to Commence on its Fish Creek Property in Alaska

VANCOUVER, British Columbia--(BUSINESS WIRE)--Linux Gold Corp. (OTCBB:LNXGF) wishes to announce that our joint venture partner Teryl Resources Corp. (TSX Venture Exchange: TRC, Pink Sheet Symbol: TRYLF) is currently arranging a drill program on the Fish Creek claims in Alaska to test several gold geophysical anomalies and placer targets. The geophysical survey was completed by Fugro Airborne Survey, Inc. under contract to Fairbanks Gold Mining/Kinross Gold, which has identified six main gold targets on the Fish Creek prospect. The Fish Creek claims are adjacent to Teryl’s Gil joint venture claims with Kinross Gold Corp. The Gil joint venture claims are located near the Fort Knox mill, which is the largest producing gold mine in Alaska. Teryl is anticipating an exploration program this year on the Gil joint venture subject to an approved budget. The Fish Creek claims are joint ventured with Linux Gold Corp. wherein Teryl can earn a 50% interest by expending $500,000. Linux Gold Corp. can back-in for a 25% interest in the Fish Creek property after the expenditures of $500,000 are made by Teryl Resources Corp.

Source: Press Release