http://www.marketintelligence.gold.org/news/ Analysis of the global market, liquidity, supply and demand, gold as a monetary asset. Market news and reports en info@gold.org Copyright 2008 http://www.marketintelligence.gold.org/news/2008/05/09/story/9275/gold_drilling_underway_in_nicaragua http://www.marketintelligence.gold.org/news/2008/05/09/story/9275/gold_drilling_underway_in_nicaragua
The drilling will be split across the Trebol, La India Norte and Estrella de Oro properties and will comprise a minimum overall distance of 3,000 metres, it added.

At Trebol, work will concentrate on the south-west portion of the property where previous trenching work has returned gold grades over 17.6 g/t gold over 8.35 metres and 6.1 g/t gold over 15 metres. Drilling will test the continuity of these grades at depth, Radius said.

Targets at La India Norte, meanwhile, include a number of high-grade vein structures located beneath stockwork gold zones. Around 1,000 metres of drilling is planned for the property.

Finally, Estrella de Oro will see drilling targeting a series of parallel, gold-bearing shoots located around the Cerro Estrella ridge. Trenching samples from this area include grades of 44.17 g/t gold over 1.3 metres, 8.55 g/t gold over 4.9 metres and 10.24 g/t gold over 2.72 metres.

Nicaragua is the largest country in Central America. It has a population of over 5.6 million people and shares its borders with Honduras to the north and Costa Rica to the south.
]]> Fri, 09 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/09/story/9276/thick_gold_intercept_reported_in_nevada http://www.marketintelligence.gold.org/news/2008/05/09/story/9276/thick_gold_intercept_reported_in_nevada
Fortune River Resource said the hole, designated WM08018, returned an overall interval of 102.1 metres with an average grade of 0.69 g/t gold at a depth of 187 metres below the surface.

Higher-grade sections within this return were graded at 1.5 g/t gold over 7.6 metres and 1.1 g/t gold over 4.6 metres.

The company said the mineralisation encountered "appears to be essentially flat-lying", meaning the intercepts are "nearly true thickness".

Drilling is ongoing at the site, it added, with two further holes located approximately 60 metres to the north and south of the previously drilled WM08016 hole also intercepting mineralisation of "significant thickness".

Additional work will target the new zone to extend its strike length along the Wind Mountain fault, which has been traced along the surface to a distance of over 3,400 metres.

A 2007 NI 43-101 compliant mineral estimate for Wind Mountain put its gold resources at 33.7 million tonnes with an average grade of 0.41 g/t gold for a total of 406,000 ounces of the precious metal.

Fortune River Resource is based in Vancouver, Canada.
]]> Fri, 09 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/09/story/9277/new_website_offers_edible_gold_to_food_fans http://www.marketintelligence.gold.org/news/2008/05/09/story/9277/new_website_offers_edible_gold_to_food_fans
Easier Lifestyle states that squires-shop.com from Squires Kitchen includes the gold leaf among its "hard to find" products that can help to make "food look fabulous".

It also aims to cater for to everyone from domestic food fans looking to throw a small dinner party to professional chefs handling a large banquet.

A total of over 4,000 products are listed on the site, each with its own picture and description to aid customers' browsing. There is also a UK-based client support feature, which the company says offers one-on-one advice from food experts.

Squires Kitchen was founded in 1984 as part of the Squires Group, which also includes cake decoration manufacturer Squires Kitchen Sugarcraft and cookery book firm B Dutton Publishing.
]]> Fri, 09 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/09/story/9278/us_gold_reports_new_finds_in_mexico http://www.marketintelligence.gold.org/news/2008/05/09/story/9278/us_gold_reports_new_finds_in_mexico
US Gold said its drilling programme had concentrated on the La Prieta high-grade zone in order to confirm previous assay returns from the area, while also expanding existing mineralisation and testing for new structures.

Highlights of its drilling results include gold grades of 15.03 g/t gold over 12.2 metres, which was contained within an intersection graded at 7.04 g/t gold over 40.5 metres.

Other results included 40.20 g/t gold over five metres, 9.12 g/t gold over 21 metres and 9.92 g/t gold over 16 metres.

Meanwhile, drilling to expand the property's known mineralisation successfully increased resources south-east of the planned Samaniego pit area, with gold values including 2.54 g/t gold over six metres, 1.83 g/t gold over six metres and 1.88 g/t gold over six metres.

US Gold added that its work also detected a new vein, named Cerritos, which is outside Magistral's currently logged resources. Mineralisation drilled from this area included values of 1.29 g/t gold over 12 metres and 3.96 g/t gold over three metres.

The Magistral mine is situated in the state of Sinaloa, north-west Mexico. Between 2002 and 2005, the property produced an estimated 70,000 ounces of gold.
]]> Fri, 09 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/09/story/9281/gold_coin_used_in_traditional_maritime_ceremony http://www.marketintelligence.gold.org/news/2008/05/09/story/9281/gold_coin_used_in_traditional_maritime_ceremony
Website boarding.no states that the coin was sealed in the central section of the MSC Magnifica on behalf of its operating company, Italian firm MSC Cruises.

The coin bears the coat-of-arms of the city of Venice, demonstrating the company's long-standing links with the area. The reverse depicts the "rose of the winds", the traditional maritime compass, along with the MSC logo.

It was joined by another coin from the shipyard that built the vessel, Aker Yards France.

Both were sealed in the ship in the presence of MSC chief executive Pierfrancesco Vago and Jacques Hardelay, the managing director of Aker Yards France.

Coin ceremonies are traditionally carried out at shipyards to bless a ship with good fortune on its voyages.

The MSC Magnifica, which has capacity for 3,779 passengers, is scheduled to join the MSC fleet as an operational vessel in spring 2010.
]]> Fri, 09 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/09/story/9282/spain_lays_claim_to_sunken_gold http://www.marketintelligence.gold.org/news/2008/05/09/story/9282/spain_lays_claim_to_sunken_gold US deep-sea exploration company that contained coins and treasure valued at $500 million (£255 million), according to reports.

The Associated Press states that Spanish authorities say the wreck, which was found by Odyssey Marine Exploration in May 2007, is the Nuestra Senora de la Mercedes, a Spanish navy warship that was sunk in the Atlantic by British vessels in 1804.

On board were 200 people, along with a cargo of around 500,000 coins and other treasures.

Spanish culture ministry coin expert Carmen Marcos told the news service that gold doubloons - also known as pieces of eight - found on board the ship prove the wreck is the Mercedes as they were minted in 1803 in Lima, Peru, with the image of Spain's King Carlos IV.

It has now filed evidence to support its claim with a court in Tampa, Florida, where Odyssey Marine Exploration is based.

Odyssey disputes Spain's claim to the gold, saying there is not enough evidence to prove the identity of the sunken ship.

Spain previously withdrew a claim against Odyssey for gold found aboard another wreck, the Black Swan. It has an additional claim that is ongoing.
]]> Fri, 09 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/08/story/9265/edible_gold_features_in_new_collection_of_premium_chocolates http://www.marketintelligence.gold.org/news/2008/05/08/story/9265/edible_gold_features_in_new_collection_of_premium_chocolates
Time Out New York says "sugary mastermind" Ellen Mirsky of the city's Public restaurant also blends balsamic vinegar and basil into her creations - ingredients normally associated with summer salads.

However, in the hands of Ms Mirsky they form part of the "carefully calibrated" flavours of the Em Chocolatier collection, which mix "salty and sweet, creamy and crunchy".

A tray of 12 gold-covered vinegar and basil truffles cost $27 (£13.81), the site says.

Other items in her "inventive collection" include chocolate bark at $24 a pound. This blends pistachio nuts, sea salt and wafer shards for a "savoury edge and satisfying crackle".

The bark also comes in white chocolate with dried figs and fennel seeds.

Before designing her collection of exclusive chocolates, Ellen Mirsky spent over ten years at Public, which has won a number of accolades including awards from the James Beard Foundation and Time Out New York's Critic's Pick.
]]> Thu, 08 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/08/story/9266/new_gold_strikes_reported_at_el_valle http://www.marketintelligence.gold.org/news/2008/05/08/story/9266/new_gold_strikes_reported_at_el_valle
Kinbauri Gold said nine drill holes were completed in the latest round of work, with gold strikes recorded in the Area 107 and Black Skarn North (BSN) zones.

Highlights of assay returns for these areas include gold grades of 4.42 g/t gold over 15.8 metres, 2.45 g/t gold over 21.5 metres and 2.25 g/t gold over 28.4 metres.

Additional returns were graded at 2.64 g/t gold over 17.95 metres and 2.29 g/t gold over 19.7 metres and 2.19 g/t gold over 15.55 metres, the company said.

It added that the drilling represents "excellent results" from both the Area 107 and BSN zones, while also demonstrating "good continuous substantial thicknesses" of mineralisation in the BSN.

Kinbauri acquired the El Valle project in March 2007 as part of a parcel of properties located within the Rio Narcea gold belt. These included the El Valle mine and mill, the Carles mine and two exploration properties - La Brueva and Ortosa/Godan.
]]> Thu, 08 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/08/story/9267/explorer_releases_canadian_gold_results http://www.marketintelligence.gold.org/news/2008/05/08/story/9267/explorer_releases_canadian_gold_results
Diamond drilling at Seeley Lake in the north-west of the province encountered gold mineralisation in two holes, the company said, with results of 1.24 g/t gold over one metre and 1.10 g/t gold over two metres.

The holes were completed 50 metres north and south from drilling carried out in 1999 that returned gold grades of 2.55 g/t gold over two metres, the company said.

It added that results indicate gold mineralisation at Seeley Lake and further exploration drilling is planned for the site.

Drilling at the Black Township property south-west of the town of Timmins, meanwhile, also returned gold intercepts.

The best results were obtained from hole BK08-03, which returned intersections of 0.52 g/t gold over 1.5 metres and 0.47 g/t gold over two metres.

In addition to its exploration in Canada, Pelangio also announced that it intends to start a ten-hole diamond drilling campaign to test extensions of the Obuasi mine trend in Ghana, west Africa. The work will be the first phase of an estimated 10,000-metre drill programme scheduled for 2008, it said.

The company controls a total of three early stage exploration permits in Ghana covering an 290 kilometres on strike from the Obuasi mine.
]]> Thu, 08 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/08/story/9269/motorola_launches_limited_edition_gold_headsets http://www.marketintelligence.gold.org/news/2008/05/08/story/9269/motorola_launches_limited_edition_gold_headsets
Website Emirates Business 24/7 states that the headsets were created in partnership with luxury mobile phone designer Alexander Amosu, who was recently included in the Daily Telegraph's Top 100 Technology and Telecoms business people in Britain.

The custom-made headsets - named the Diamond Motopure H12 - come in white or yellow gold and can incorporate over 180 white, pink or black diamonds.

They also include the latest Bluetooth technology and Motorola's CrystalTalk application, which cuts down background noise making conversations clearer.

Furthermore, Diamond Motorpure H12s are compatible with phones from all major manufacturers, including Nokia, Sony Ericsson and Blackberry.

Motorola's Charlie Henderson told the site: "The headset, designed to look good and extremely comfortable to wear, is small and stylish and has fantastic performance."

The Diamond Motorpure H12 is available to order through Amosu Luxury's website. Prices start at 29,000 United Arab Emirate dirham - equal to around £4,000.
]]> Thu, 08 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/08/story/9270/shipwrecked_gold_to_go_under_hammer http://www.marketintelligence.gold.org/news/2008/05/08/story/9270/shipwrecked_gold_to_go_under_hammer
Among the 1,165 lots included in the sale are "dozens" of gold cobs - most of which were found aboard ships of the 1715 Spanish fleet that was lost off the coast of Florida - and gold nuggets rescued from the wreck of a Portuguese galleon sunk in African waters in 1558.

The sale is being organised by auctioneer and numismatic expert Daniel Frank Sedwick, which specialises in colonial coins of Spanish America.

Other lots in the sale include coins and artefacts from ships sunk off the Bahamas and the Philippines, as well as items from Coconut wreck of 1810, which went down in the mid-Atlantic.

Pre-auction estimates for the items vary from $625,000 (£319,000) to $900,000, the company said.

Mail bidding for the auction remains open until 5pm on May 29th, it added.
]]> Thu, 08 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/08/story/9271/investigators_try_to_unravel_mysteries_of_ill_fated_gold_ship http://www.marketintelligence.gold.org/news/2008/05/08/story/9271/investigators_try_to_unravel_mysteries_of_ill_fated_gold_ship
The wreck, which experts believe could date back to the 15th century, was discovered off the coast of the southern African state in April. Its cargo included "thousands" of gold coins, as well as Spanish cannons and around 50 elephant tusks.

Now, according to newspaper the Namibian, scientists are preparing for a "painstaking" operation to analyze the find.

Archaeologist Dieter Noli, who was among the first to examine the wreck, said it could "take months" before the "real significance" of the discovery is fully understood.

He added that each item from the ship - including each individual coin - will have to be collected, photographed, cleaned and stored.

The structure of the ship itself, however, has been "badly battered" by the sea and little remains in tact, Mr Noli told the publication.
]]> Thu, 08 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/07/story/9255/drilling_intercepts_gold_in_ontario http://www.marketintelligence.gold.org/news/2008/05/07/story/9255/drilling_intercepts_gold_in_ontario
Explor Resources said a total of six holes were completed to a combined depth of 3,071 metres as part of the fourth phase of its drilling campaign, returning "numerous" gold assays.

The 785-metre hole designated EG-08-05 included a number of gold intersections, with highlights including 1.62 g/t gold over 3.5 metres, 1.07 g/t gold over one metre and 0.31 g/t gold over three metres.

Additional intercepts were graded at 0.22 g/t gold over one metre and 0.16 g/t gold over one metre.

Explor said the "diverse" types of mineralisation encountered at Eastford Lake is reminiscent of the region's major gold camps, such as the Hollinger-McIntyre system and the Dome Mine in the Porcupine gold district.

Explor Resources is a Canadian exploration firm with properties in the provinces of Ontario, Quebec, Saskatchewan and New Brunswick.
]]> Wed, 07 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/07/story/9256/gold_drilling_complete_in_nevada http://www.marketintelligence.gold.org/news/2008/05/07/story/9256/gold_drilling_complete_in_nevada
The work was primarily focussed on four zones along the Arrowhead lineament fault designated as Gladius, Arrowhead, Argenta and Whopper Junior.

A total of five holes were completed around the Arrowhead mine, with gold values of 2.34 g/t gold across a true width of 4.30 metres.

Meanwhile, drill hole N-52 was completed ten metres south of these drill holes, returning a gold grade of 27.4 g/t gold over 6.74 metres.

Another five holes were completed to the south-south-east of the Arrowhead mine, returning gold assays of 2.0 g/t gold across 1.92 metres.

Following the completion of the drilling programme, the company said it intends to start a new exploration grid between the Arrowhead mine and the Whopper Junior zone, where soil sampling and geophysical testing will be carried out.

Targets identified by this work will be given a "high priority" and will be tested with further testing with diamond drilling, it added.

The Needles property covers 104 mining claims across a total area of 861 hectares of land in the former mining district of Nye County, Nevada.
]]> Wed, 07 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/07/story/9260/target_begins_drilling_at_canadian_gold_project http://www.marketintelligence.gold.org/news/2008/05/07/story/9260/target_begins_drilling_at_canadian_gold_project
The company said the programme, which will consist of between nine and 11 holes, will test gold-in-soil anomalies as well as following up on ongoing drilling and trenching work currently being carried out on the site.

Zones targeted by the drilling have so far returned gold values of 0.78 g/t gold over 62.2 metres and 4.3 g/t gold over 5.1 metres.

Target president Stewart Wallis said he was "very excited" about the company's plans for exploration at Bradshaw.

"Bradshaw's close proximity to one of [British Columbia's] largest former gold producers makes it a highly prospective property," he added.

The property is located at the northern tip of the Hedley mining camp around ten kilometres from the Nickel Plate/Mascot gold mine.

Bradshaw covers a total area of 12.6 square kilometres around 300 kilometres east of Vancouver.
]]> Wed, 07 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/07/story/9261/india_gold_sales_could_rise_40percent http://www.marketintelligence.gold.org/news/2008/05/07/story/9261/india_gold_sales_could_rise_40percent
Newspaper the Economic Times says many Indian jewellers are expecting a "whopping" increase on last year's gold sales for the Hindu festival, which totalled approximately 780 tonnes.

The majority of gold sales are expected to be concentrated in the south of the country, the publication adds, although one-quarter of all purchases are set to take place in the northern regions.

According to the newspaper, industry experts believe the rise in sales throughout India is down to the growing popularity of the Akshaya Tritiya festival, as well as higher average disposable incomes.

New collections from jewellery houses such as Tanishq, Alukkas and Malabar Gold are also thought to be attracting customers.

Tanishq's vice-president of marketing V Govindraj said: "Sales on the festive day alone are likely to contribute five per cent to our annual sales."

He added that many people buy gold on the day for weddings, while others take the traditional view that buying gold on Akshaya Tritiya will bring lasting prosperity.

Akshaya Tritiya is celebrated on May 7th and May 8th in countries including India, Nepal, Sri Lanka, South Africa and Singapore.
]]> Wed, 07 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/06/story/9244/jewellery_introduces_gold_coins_for_hindu_festival http://www.marketintelligence.gold.org/news/2008/05/06/story/9244/jewellery_introduces_gold_coins_for_hindu_festival
Newindpress.com says the 22ct and 24ct coins will be available to buy on the day of Akshaya Trithiya itself, which is celebrated on May 7th and May 8th in various countries, including India and Sri Lanka.

The festival is traditionally considered a good time to make long-term investments or start new ventures.

Bhima Jewellery's chairman B Govindan said the company had introduced Akshaya Trithiya to the region where it was founded, Kerala.

He added that in addition to the range of gold coins on offer, the jewellery house is also introducing a specially-designed "Akshaya collection" that includes a mixture of traditional, antique, lightweight and contemporary gold jewellery.

The 45-acre Madurai Meenakshi Amman in Madurai features 12 towers and measures 254 metres by 237 metres. Its inner sanctum is thought to be around 3,500 years old.
]]> Tue, 06 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/06/story/9245/history_buff_discovers_medieval_gold_ring http://www.marketintelligence.gold.org/news/2008/05/06/story/9245/history_buff_discovers_medieval_gold_ring
The Coventry Telegraph states that amateur treasure hunter Wayne Burton made his discovery while prospecting for buried artefacts in Leicestershire.

The gold ring is believed to be English, although it is inscribed with the French phrase mon cuer avez - which means have my heart - the newspaper says.

It adds that the piece has been declared Treasure Trove belonging to the Crown.

Mr Burton told the publication: "The British Museum experts are now valuing the ring, and it seems likely a museum in Leicester will want to buy it to put on show."

If the purchase goes ahead, Mr Burton added that he expects to receive around £900 for the ring, which he will split with the owner of the land where he found it.

However, he told the newspaper: "Nobody really does metal detecting for the money. For me the real thrill is putting your hand on history."

Most metal detectors can only pick up metals buried around a foot below the ground, although a single prospector once used one to unearth a 156-ounce gold nugget in the Southern California desert.
]]> Tue, 06 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/06/story/9247/gold_treasure_found_in_knights_templar_tomb http://www.marketintelligence.gold.org/news/2008/05/06/story/9247/gold_treasure_found_in_knights_templar_tomb
Netnewsledger.com states that the objects were contained in wooden chests surrounding a plinth upon which the mummified body was resting.

The site adds that the remains were wrapped in a shroud bearing the "distinctive red cross of the Knights Templar".

The hidden tomb, which has been described as an "unprecedented" discovery, could be one of a series of secret locations the ancient order of Christian knights used to bury artefacts after their dissolution by King Phillip IV of France in 1307.

Filmmaker Bruce Burgess, who has recorded the find for his documentary Bloodline, told the site that some of the relics rumoured to be hidden in these legendary secret chambers include "the embalmed remains of Jesus and Mary Magdalene".

Jean-Pierre Giaud, commissioner of archaeology for France's ministry of culture and communication said the find was "intriguing" but that it is "too early to tell how important it is".

He added that the ministry will conduct a full survey of the site as soon as possible.

The Knights Templar were a military order formed after the First Crusade to guard European pilgrims on their journey to the holy land. At its height, the organisation had between 15,000 and 20,000 members.
]]> Tue, 06 May 2008 00:00:00 +0100 http://www.marketintelligence.gold.org/news/2008/05/02/story/9235/axmin_reports_excellent_gold_grades_in_africa http://www.marketintelligence.gold.org/news/2008/05/02/story/9235/axmin_reports_excellent_gold_grades_in_africa
The company developing the Kofi property, Axmin, said it had struck gold in the Kofi SW zone, while also intersecting a new gold-bearing structure at the site.

Key intercepts from infill drilling on Kofi SW include gold grades of 6.0 g/t gold over 27.7 metres, 4.0 g/t gold over 20 metres, 3.4 g/t gold over 19.5 metres and 3.0 g/t gold over 12.9 metres, the exploration firm said.

Meanwhile, a five-hole reconnaissance drill programme followed up on previous samples and successfully detected a new zone of mineralisation.

Grades returned from this area include 1.5 g/t gold over 13 metres, 0.9 g/t gold over 16 metres and 0.8 g/t gold over 15 metres.

Axmin president and chief executive Mario Caron said: "This round of drilling reinforces our belief that substantial exploration potential remains both near surface and at depth across the Kofi [property] and that our ongoing drill programs will continue to expand the project."

The company's announcement comes after another exploration firm, Merrex Gold, reported high-grade gold strikes at its Siribaya project in the West Mali gold belt.
]]> Fri, 02 May 2008 00:00:00 +0100