Junior roundup: Colombian Mines, Brazil Minerals, Miranda Gold

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Tuesday, May 13, 2014

Vancouver-based Colombian Mines (TSX-V: CMJ) has completed three drill holes in the Sabana Blanca zone of its El Dovío gold project in Colombia, with all holes intersecting massive to semi-massive sulfide mineralization, a press release said.

Highlights include up to 49.8m of visually significant mineralization in the area, while mineralization extends more than 250m down dip below surface outcrops.

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The company has also completed an expanded ground magnetometry survey of El Dovío, and consultants are currently modeling the data.

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California-based Brazil Minerals (OTCQB: BMIX) has received US$500,000 from four investors in a transaction in which the company sold a combination of GIA-graded diamonds, common stock and two-year options.

The GIA-graded diamonds can be delivered over time, until December 31, 2015, according to a company statement.

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Vancouver-based Miranda Gold (TSX-V: MAD) has acquired the Oribella project, located in Colombia's Antioquia department, through a purchase agreement with Antioquia Gold, a press release said.

The project comprises some 10,700ha, and is located in an area with high-sulfidation epithermal gold-copper mineralization.

The agreement is subject to a 0.5% royalty to Antioquia Gold that can be purchased for US$1.5mn and a 2% royalty to Sorotama Gold, a subsidiary of Barrick Gold (NYSE, TSX: ABX). Miranda acquired the property by agreeing to pay the license canon due May 14 of some 111mn pesos (US$58,000) and a US$53,000 reimbursement to Antioquia Gold.