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Exploring Today's Gold Stocks: Week of February 18, 2008

Rainy River Finds 1m of 4,158.63 g/t Gold

By Gold World Staff
Monday, February 18th, 2008

In this week's issue of The Drill Rig, we will talk about several new drill programs beginning on gold properties everywhere from Manitoba to Uganda. Afterwards we will show you some highlights of previous drill programs including Rainy River Resources' impressive 1 meter of 4,158 grams per ton gold.

NEW AND CONTINUING DRILL PROGRAMS

Magnus International Resources Inc. (OTC BB: MGNU) has just begun a 5,000 meter reverse circulation drill program on three of the company's projects in Uganda. The first project to be drilled is the 100%-owned Lugazi property, where geologists are testing a strong 300-700 meter wide gold-in-soil anomaly that stretches at least 3.5 kilometers long. The program will focus next on the Mashonga project located within the Buhweju goldfields. These goldfields have produced more than 200,000 ounces gold since the 1930s. Recent rock chip samples from Mashonga have assayed up to 58.8 g/t gold, 4.15 g/t platinum, 3.68 g/t palladium with rhodium and lead values. Finally, drilling at the Mwerusandu project will test a high grade trench intersection, which assayed 3.5 g/t gold over 20.5 meters. Magnus says that drilling will continue over the next 6 to 8 weeks.

New Dimension Resources Ltd. (TSX-V: NDR) announced that its joint venture partner Rolling Rock Resources Corp. (TSX-V: RLL) has commenced a 2,500 meter diamond drilling campaign on the 14,000 hectate Domain property in northern Manitoba. Prior to this new drill program, there have only been 23 short drill holes totaling 3,600 meters completed on certain areas of the known structure. All previous holes drilled returned elevated gold values including 0.7 meters of 30.90 g/t gold and 6.5 meters of 3.56 g/t gold. The Domain property is host to several strike (up to 3.5 kilometers long) and dip persistent (at least 100 meters high) gold bearing structures. Rolling Rock has the option to earn up to a 51% interest in the Domain property.

Lincoln Gold Corp. (OTC BB: LGCP) has begun a small four hole core drill program on the company's 100% owned Pine Grove gold property in Nevada. Gold was discovered on Lincoln's claims back in 1866. The area was mined extensively until 1872, with intermittent production until 1915. Historic underground mining on the claims produced approximately 240,000 ounces of gold. The average grade of the ore was 1.36 ounces per ton (38.56 g/t). The company says drilling should be completed by the end of the month.

Mengold Resources Inc. (TSX-V: MNI)
has commenced a planned 5,000 meter diamond drill campaign on the Goldcreek and Burchell Lake properties located in the Shebandowan area, 100 kilometers west of Thunder Bay, Ontario. Management has outlined approximately 25 to 30 holes for this program which is expected to take about two months to complete.

Vault Minerals Inc. (TSX-V: VMI) has recently commenced the first of two winter-based drill programs planned for its 100%-owned Lebel gold properties in Ontario. In late January, Vault commenced an eight-hole drill program on its 200-acre Gordon-Lebel property. The initial 1,500 meter program is designed to test several targets, including the Boundary Zone, where recent grab samples collected assayed as high as 27.9 g/t Au over 0.3 meters. Historical drilling in this area has also returned a near-surface interval of 1.4 g/t Au over 21.3 meters. To date, six drill holes have been completed totaling 1,225 meters and preliminary analytical results have been received and tabulated for the first two holes. Drill hole LB08-23 encountered multiple gold intercepts including 10.2 g/t Au over 1.1 meters, 6.7 g/t Au over 1.4 meters, 6.6 g/t Au over 1.4 meters and 3.4 g/t Au over 1.5 meters. Vault also recently announced that, pursuant to the terms of an option agreement, Goldcorp Inc. (NYSE: GG, TSX: G) intends to proceed with a 4,500 meter diamond drill program on Vault’s Lebel property. To date, 18 target areas have been identified for proposed diamond drilling along 12 known mineralized structures on the 2,300-acre property. Existing high-grade drill intersections and surface channel samples that require follow up include: 95.1 g/t Au over 2.7 meters, 124.8 g/t Au over 0.2 meters, 14.1 g/t Au over 1.0 meter, and 30.6 g/t Au over 1.3 meters; while those representing open-pit potential include: 1.0 g/t Au over 36.5 meters, 3.3 g/t Au over 10.2 meters, and 1.4 g/t Au over 21.3 meters.

Apollo Gold Corp. (TSX: APG, AMEX: AGT) announced that the company has begun a 30 to 40 hole core drilling program totaling approximately 4,000 meters at the Puma de Oro target on its Huizopa project within the prolific Sierra Madre gold belt in western Sonora, Mexico. The Huizopa concessions are approximately 235 kilometers due east of the city of Hermosillo and are located between the advanced stage multi-million ounce gold/silver projects at Alamos Gold Inc.'s (TSX: AGI) 2 million ounce Mulatos mine and 17 kilometers southwest of MineFinders Corporation Ltd.'s (TSX: MFL, AMEX: MFN) Dolores project, which has gold reserves of over 2.4 million ounces. The Sierra Madre gold belt has a known mining history that goes back an estimated 400 years, with estimates of historical production as high as 40 million ounces of gold and 2 billion ounces of silver. Drilling is expected to be completed next month.

VenCan Gold Corp. (TSX-V: VCG)
announced the commencement of its winter diamond drill program on the Fern Elizabeth property, located in the Atikokan area of Northern Ontario. The current drill program will consist of 7 to 8 holes totaling approximately 1,500 meters and will initially focus in the area of the old mine workings on the Fern Elizabeth property. The results of a recently completed geochemical soil sampling have revealed a strong arsenic anomaly which has coincident anomalies in a number of other elements, including gold.

Harvest Gold Corp. (TSX-V: HVG) announced that a diamond drilling program will commence this week on the Lesavage North property, in the Rice Lake Gold Belt, located approximately 20 kilometers east of the mining community of Bissett, Manitoba. The program will consist of 1,200 meters to 2,000 meters of diamond drill testing of targets in three areas of the property. Drilling will re-examine the gold mineralization discovered in 2005 at the Red Hill Zone, including 7.5 g/t over 2 meters in hole L-05-01 and several other intervals as high as 3.4 g/t gold in adjacent holes. The program will also test a new zone identified during the second drill program in the summer of 2006.

NEW DRILL RESULTS

Keegan Resources Inc. (TSX-V: KGN, AMEX: KGN)
Esaase Project, Ghana

Drilhole ID Number Intersection
Gold Grade
Comments
KERC26442 meters 8.75 g/t
n/a
including
2 meters
85.65 g/tvery high grade
and
2 meters 76.23 g/t
very high grade
KERC265105 meters 1.48 g/tnice width
KERC266103 meters
0.93 g/t
nice width
KERC26855 meters
1.42 g/t
n/a


Detour Gold Corp. (TSX: DGC)
Detour Lake Property, Canada

Drilhole ID Number
Intersection
Gold Grade
Comments
DG-07-18527.0 meters6.79 g/t
n/a
DG-07-194A
15.0 meters
16.97 g/tn/a
DG-07-183
7.0 meters21.35 g/t
n/a
DG-07-18911.0 meters
11.29 g/t
really good set of intercepts


Rainy River Resources Ltd. (TSX-V: RR)
Rainy River Project, Canada

Drilhole ID Number
Intersection
Gold Grade
Comments
NR07-21827.8 meters5.68 g/t n/a
including
7.0 meters
20.35 g/t
n/a
including
1.0 meters
4,158.63 g/t
includes 1,755.39 g/t silver, highest grade intersect of the week


Kirkland Lake Gold Inc. (TSX: KGI, AIM: KGI) and Queenston Mining Inc. (TSX: QMI)
South Mine Complex, Canada

Drilhole ID Number
Intersection
Gold Grade
Comments
53-9096.55 meters
72.01 g/t figures were originally calculated in feet and ounces per ton
including5.12 meters71.72 g/tfigures were originally calculated in feet and ounces per ton
53-9081.25 meters125.30 g/t
figures were originally calculated in feet and ounces per ton
including
6.46 meters
8.5 g/t
figures were originally calculated in feet and ounces per ton
50-90115.00 meters
21.26 g/t
figures were originally calculated in feet and ounces per ton


Gold Eagle Mines Ltd. (TSX: GEA)
Frog's Leg Project, Australia

Drilhole ID Number
Intersection
Gold Grade
Comments
BC 19-15
13.30 meters38.26 g/t
nice intersection, great grades
including
3.80 meters123.35 g/tn/a
BC 19-16
66.40 meters
10.96 g/tone of the best drill results of the week
including15.60 meters25.50 g/t n/a
BC 19-1639.80 meters8.43 g/tn/a
including3.20 meters
33.79 g/t n/a


Did we miss a new exploration program or set of drill results that you think are noteworthy? Tell us by making a comment below.




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Comments:

Comment by R Fangrad on 2008-02-21
KINBAURI INTERSECTS 167g Au/t, 383g Au/t and 5.75 Cu over 1.2m at EL VALLE - Feb 14
Comment by RINK on 2008-02-20
Seabridge Gold has just announced significant uppgrades and expansions. See news release below...

New NI 43-101 Resource Estimate Completed for Seabridge Gold's Mitchell Zone

New Estimate Confirms Significant Upgrade and Expansion of Gold/Copper Resources
February 20, 2008: 08:00 AM EST
Comment by Denis Villeneuve on 2008-02-19
Yes you have missed Brett Resources Inc.'s Hammond Reef project. Excellent widths. Check BBR on TSX.v on press releases on http://www.brettresources.com/

321 metres grading 1.12 g/t Au in Ontario
Comment by Yog Ahuja on 2008-02-19
Please keep a watch on the next Press Release of King's Bay Gold Corpn (KBG-TSX-V) and if you find it worthy of inclusion in your report, you may do so, if you like. I'm a very petty shareholder, a pensioner.
Comment by John Leritz on 2008-02-19
On verge of releasing major news !!!

http://www.klondikestar.com/sitemap.php

http://www.klondikestar.com/investor_relations/

http://www.klondikestar.com/investor_relations/press_release.php?id=81
Comment by on 2008-02-19
Company B2Gold. BTO.V
Large drilling program in Cloumbia

New company - previus Bema. . . .
Comment by james roberts on 2008-02-19
You should check out franklin mining fmnj.....it might be an up and coming company.
Comment by D Hayes on 2008-02-19
They are past drilling and went into production in S. America last summer. Can you tell me what you think about Minera Andes
Thanks
Comment by Eric Theobald on 2008-02-19
Great article, really informative. Have a look at TWD -- in joint venture with Detour Gold. RBC Dominion Securities and Royal Bank of Canada are big "friends".

All the best,
Eric
"No man should be governed by another" - Luke Burgess
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