stolwyk
08-01-2004, 01:23 PM
AAM---A1 Minerals
Website: http://www.a1minerals.com.au
Listed on 5 Dec. Current price: 31 cents.
There are 39.3 mill shares and 9.5 mill 30 Nov. 2006 vendor options. (21.4 mill new shares were created raising $4.3 mill. before costs).
14.7 mill shares will be in escrow for 2 years, 3.1 mill in escrow for 1 year.
Note: The Prospectus is on the AAM website and needs to be read to get a good impression of the Projects. Extracts below are from this Prospectus:
1. The Bright Star Gold Project.
"The BrightStar Project covers approximately 30km2 and is located within the Burtville Domain on the eastern margin of the Laverton Tectonic Zone. The Laverton Tectonic Zone is now recognised as
one of extremely high gold endowment and produced nearly 9 million ounces (Moz) of gold to 2002 from a total resource base of nearly 25 million ounces".
The BrightStar Gold Project is the primary focus for the Company and the project which most of the funds raised pursuant to this Prospectus will be committed. The project consists of a granted exploration licence (E38/970), a mining lease application over the BrightStar Discovery Zone (MLA 38/968) and two exploration licence applications along strike to the northwest (ELA38/1517) and southeast (ELA38/1523).
The aim is to build on recent exploration success by further exploration and development thereby moving BrightStar to production within a relatively short time frame.
BRIGHT STAR--Gold Intercept--- From Depth
5m @ 9.97g/t Au-- from depth: 59m
7m @ 7.09g/t Au---- 35m
7m @ 7.65g/t Au---- 45m
12m @ 47.66g/t Au (uncut)----- 52m
10m @ 5.65g/t---- Au 13m
5m @ 4.27g/t Au--- 91m
8m @ 4.42g/t Au--36 m
"Drilling to date supports the interpretation of mineralisation comprised of a thick zone of stacked shoots plunging at a low angle to the northwest. Most intercepts occur in soft weathered rock associated with a mineralised shoot plunging gently northwards. Best grades occur close to surface and a low water table below 80m depth bodes well for accessibility via open pit mining.
Gold mineralisation remains open up and down dip and along strike in both directions.(Figure2). Exploration undertaken by A1 suggests the BrightStar discovery zone represents a portion of a regionally significant gold mineralised system highlighted by surface and shallow drill geochemistry anomalies over 10km of strike within the project area. However, to date only 500m of mineralisation has been adequately tested resulting in the intercepts set out above".
Due to the recent multi-million ounce discoveries the Company believes the Laverton area should continue to show potential for more. The BrightStar shallow dip and stacked lodes (Figure 3) are similar in nature to the geological settings at recent large discoveries in the district. With only a very small area of the 10km of gold anomalies at BrightStar tested to date, the Company is optimistic that further exploration success will follow.
During 2004, continuous phases of drilling (including RAB drilling for testing targets and outlining shallow mineralisation and RC drilling to define and measure resources) are planned to be undertaken. In 2005, it is the Directors intention to finalise resource definition and to carry out pre-feasibility studies".
Date 19 Dec: Bright Star--Update:
http://stocknessmonster.com/news-item?S=AAM&E=ASX&N=252505
Solicitor's report: from the Prospectus, page 42:
GENERAL INFORMATION ABOUT MINING TENEMENTS
(a) Mining Lease ("ML")
A ML gives the holder the exclusive right to find, extract and dispose of any minerals on the land the subject
of that ML. The maximum area over which a ML may be granted must not exceed 10 square kilometres.
A ML remains in force for a period of 21 years from the date of grant, the holder has an option to renew for another
21 years on expiry and further renewals are possible under the Mining Act 1978 (WA) ("Mining Act").
The Company has no ML at the date of this report.
Mining Lease Application ("MLA")
A MLA does not constitute a lease while the application is
Website: http://www.a1minerals.com.au
Listed on 5 Dec. Current price: 31 cents.
There are 39.3 mill shares and 9.5 mill 30 Nov. 2006 vendor options. (21.4 mill new shares were created raising $4.3 mill. before costs).
14.7 mill shares will be in escrow for 2 years, 3.1 mill in escrow for 1 year.
Note: The Prospectus is on the AAM website and needs to be read to get a good impression of the Projects. Extracts below are from this Prospectus:
1. The Bright Star Gold Project.
"The BrightStar Project covers approximately 30km2 and is located within the Burtville Domain on the eastern margin of the Laverton Tectonic Zone. The Laverton Tectonic Zone is now recognised as
one of extremely high gold endowment and produced nearly 9 million ounces (Moz) of gold to 2002 from a total resource base of nearly 25 million ounces".
The BrightStar Gold Project is the primary focus for the Company and the project which most of the funds raised pursuant to this Prospectus will be committed. The project consists of a granted exploration licence (E38/970), a mining lease application over the BrightStar Discovery Zone (MLA 38/968) and two exploration licence applications along strike to the northwest (ELA38/1517) and southeast (ELA38/1523).
The aim is to build on recent exploration success by further exploration and development thereby moving BrightStar to production within a relatively short time frame.
BRIGHT STAR--Gold Intercept--- From Depth
5m @ 9.97g/t Au-- from depth: 59m
7m @ 7.09g/t Au---- 35m
7m @ 7.65g/t Au---- 45m
12m @ 47.66g/t Au (uncut)----- 52m
10m @ 5.65g/t---- Au 13m
5m @ 4.27g/t Au--- 91m
8m @ 4.42g/t Au--36 m
"Drilling to date supports the interpretation of mineralisation comprised of a thick zone of stacked shoots plunging at a low angle to the northwest. Most intercepts occur in soft weathered rock associated with a mineralised shoot plunging gently northwards. Best grades occur close to surface and a low water table below 80m depth bodes well for accessibility via open pit mining.
Gold mineralisation remains open up and down dip and along strike in both directions.(Figure2). Exploration undertaken by A1 suggests the BrightStar discovery zone represents a portion of a regionally significant gold mineralised system highlighted by surface and shallow drill geochemistry anomalies over 10km of strike within the project area. However, to date only 500m of mineralisation has been adequately tested resulting in the intercepts set out above".
Due to the recent multi-million ounce discoveries the Company believes the Laverton area should continue to show potential for more. The BrightStar shallow dip and stacked lodes (Figure 3) are similar in nature to the geological settings at recent large discoveries in the district. With only a very small area of the 10km of gold anomalies at BrightStar tested to date, the Company is optimistic that further exploration success will follow.
During 2004, continuous phases of drilling (including RAB drilling for testing targets and outlining shallow mineralisation and RC drilling to define and measure resources) are planned to be undertaken. In 2005, it is the Directors intention to finalise resource definition and to carry out pre-feasibility studies".
Date 19 Dec: Bright Star--Update:
http://stocknessmonster.com/news-item?S=AAM&E=ASX&N=252505
Solicitor's report: from the Prospectus, page 42:
GENERAL INFORMATION ABOUT MINING TENEMENTS
(a) Mining Lease ("ML")
A ML gives the holder the exclusive right to find, extract and dispose of any minerals on the land the subject
of that ML. The maximum area over which a ML may be granted must not exceed 10 square kilometres.
A ML remains in force for a period of 21 years from the date of grant, the holder has an option to renew for another
21 years on expiry and further renewals are possible under the Mining Act 1978 (WA) ("Mining Act").
The Company has no ML at the date of this report.
Mining Lease Application ("MLA")
A MLA does not constitute a lease while the application is