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Exploring Today's Gold Stocks: Week of April 7, 2008

Bonanza-Grade Gold Find in China Goes Relatively Unnoticed; 32.13 Meters Grading 14.39 g/t Gold

By Luke Burgess
Monday, April 7th, 2008

Last week saw limited announcements of new drill programs and gold drill results. This however didn't stop companies like New Pacific Metals Corp. in reporting bonanza-grade results including 8.13 meters grading 99.91 g/t gold.

NEW DRILL PROGRAMS

Adventure Gold Inc. (TSX-V: AGE) announced the commencement of its first drill program on the 100%-owned Beaufor West property, just east of the Val d'Or mining camp, Quebec. The focus of the first phase of the program is to drill test the south-western and in-depth extensions of the Beaufor Mine, a producing gold mine operated jointly by Richmont Mines (AMEX: RIC, TSX: RIC) and Louvem Mines (TSX-V: LOV). Two new drill holes and the deepening of a previous hole drilled in 1996, will test the Beaufor Mine gold-bearing vein system a few hundred meters away from the underground mining operation. A fourth hole will test a near-surface target in the western part of the property, for a total of 1,500 meters. The second phase of the drill program, totaling 1,500 meters, is scheduled for the company's 100%-owned Beaufor North and Lapaska properties, both located east of Val d'Or, upon completion of Phase 1 of the drill program. The Beaufor, Perron and Pascalis mines, are known collectively as the "Beaufor Mine". The total production for the Beaufor Mine is more than 900,000 ounces of gold grading between 7.0 g/t gold to 8.5 g/t gold.

Upper Canyon Minerals Corp. (TSX-V: UCM) recently announced that a 3,500 meter definition drilling program has commenced on its 100% owned Brosnor property located in Louvicourt township, approximately 30 kilometers east of the mining town of Val d'Or, Quebec. The primary objective of the program is the definition drilling of the Adelemont ore zone and the testing of its south-west down depth extension. On the Bermont zone, 3 short holes, totaling approximately 1,000 meters will test mineralization accessible in winter time due to the swampy environment. A resource calculation in 1982 reported the first historical resource calculation, estimating 277,503 tons grading 4.08 g/t gold on the Adelemont deposit to a vertical depth of 200 meters and 34,352 tons grading 4.25 g/t gold on the Norcourt zone.

Ontex Resources Ltd (TSX: ONT) announced the imminent start of its 8,000 meter, diamond drill program located on its 100% owned Brookbank gold deposit in the Beardmore-Geraldton area of northern Ontario. The diamond drill program will concentrate on infilling portions of the Brookbank gold deposit and upgrading mineralization currently in a lower resource category to the indicated and measured categories. Secondly, the program will also focus on increasing the mineral resources between the Broookbank and Cherbourg gold deposits.

First Gold Exploration Inc. (TSX-V: EFG)
announced that it will start another diamond drill program on the Croinor mining lease under option from X-Ore Resources Inc. (TSX-V: XOR). The Croinor deposit located 75 kilometers by road from Val-d'Or is known to contain an estimated 1,429,075 metric tons of 6.31 g/t gold or 289,000 ounces of gold for combined measured and indicated mineral resources at a cut-off grade of 2.00 g/t in the first 200 meters from surface. In 2007, First Gold completed an additional 8,409 meters of diamond drilling on the project which was successful in extending and better defining the known gold resource. Previously reported infill holes CR-07-332A (15.25 g/t gold over 4 meters) and CR-07-334 (5.19 g/t gold over 10.9 meters) indicate that the quality of the resource has been improved and that the deeper holes CR-07-332A (27.03 g/t gold over 2 meters) and CR-07-334 (4.05 g/t gold over 6 meters) indicate that a mineralized zone not included in the measured mineral resource does exist below 200 meters from surface. This new zone has now been identified over a length of 400 meters. This mineralization as seen above presents a number of high gold grades. First Gold's next drill program will begin in May and will entail a minimum of 5,000 meters which will lead to the preparation of a new NI 43-101 compliant resource. It will consist of more fill-in drilling in the area where the known resource is located, 7 deeper holes for a total of 2,650 meters to test the continuity of the zone identified below 200 meters, and additional drilling laterally to test for more mineralization going both in the East and West directions. While this program is in progress, First Gold and its partner will also commission the preparation of scoping study to determine the optimal location to drive a ramp underground on the project.

EurOmax Resources Ltd (TSX-V: EOX) announced that phase I of the 2008 exploration program at the Trun gold property in western Bulgaria has commenced. Initial drilling of the large Big Hill West geophysical target encountered a 161 meter quartz-sulphide vein stockwork to the bottom of the hole with disseminated molybdenum. The planned program will include 4,000 meters of reverse circulation and 1000 meters of diamond drilling plus 25 line kilometers of geophysics.

NEW DRILL RESULTS

Kinbauri Gold Corp. (TSX-V: KNB)
El Valle project, Spain

Drilhole ID Number Intersection
Gold Grade
Comments
08KV1061
3.15 meters 11.55 g/t
including 64 g/t Ag and 2.76% Cu
including
1.50 metedrs19.50 g/t including 109 g/t Ag and 5.11% Cu
08KV106625.95 meters1.72 g/t including 8 g/t Ag and 0.50% Cu
08KV106924.70 meters2.00 g/t including 13 g/t Ag and 0.62% Cu
08KV107019.25 meters2.54 g/t including 12 g/t Ag and 0.72% Cu


Goldbelt Resources Ltd. (TSX: GLD)
Kari Nord license, Burkina Faso

Drilhole ID Number
Intersection
Gold Grade
Comments
KNRC03529 meters4.15 g/t n/a
and
38 meters
2.40 g/t
n/a
KNRC04210 meters
6.06 g/t
n/a
KNRC05319 meters
2.34 g/t
n/a


Alexis Minerals Corp. (TSX: AMC)
Lac Herbin project, Canada

Drilhole ID Number
Intersection
Gold Grade
Comments
LH04-008
8.15 meters
9.09 g/t
n/a
LH04-2291.8 meters
26.45 g/t
n/a
LH04-2322.9 meters
24.30 g/t
n/a
AMAR-753 meters 23.20 g/t
n/a
AMAR-814.2 meters
17.43 g/t
n/a


New Pacific Metals Corp. (TSX-V: NUX)
HNK project, China

Drilhole ID Number
Intersection
Gold Grade
Comments
ZK00031.94 meters46.06 g/t
n/a
ZK300132.13 meters14.39 g/tn/a
including8.13 meters55.05 g/tn/a
including
4.43 meters
99.91 g/t
n/a
including
2.68 meters
161.95 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 RG on 2008-04-11
Good Evening,
I have been following a little known as International Gold Resources, Inc.

This company holds exploration claims and is actively exploring in the Yukon, Canada and in Amapa State, Brazil.

I read that the most important thing to look for in these start up companies are managment. Well this company has an all star staff starting at the top with Mr. Robert Dumont.

http://www.intlgold.com/s/Home.asp

I would be interested to hear your thoughts.

RG

Comment by Tom Sellers on 2008-04-08
Dear Greg:
I am a Mining Spectator subscriber and I have all your reports. I want to invest in gold mining. I have already invested and own gold. I want to know the name of this 'tiny' mining company you mention in this newsletter so I can invest in it. I am interested in gold mining in China, etc.

I have been trying to find a mining company to 'invest in' that is involved with the recent gold discovery in northern Minnesota. It rivels or is potentially greater than China, total! I need to know 3 or 4 companies to select from and invest in. Any suggestions? I await you response.
Thanks!

"No man should be governed by another" - Luke Burgess
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