Animas Clarifies Some of Its Prior Technical Disclosure
Published : March 25, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   G Mexico | Gold | Market | Mexico | Report | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2013) - Animas Resources Ltd. (News - Market indicators) ("Animas" or the "Company") announces that it has updated some of its technical disclosure on its website and retracted certain documents.

As a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify its disclosure.

In the Company's presentation and corporate profile presented on the Company's website, the Company inappropriately disclosed "minable oxide resources" and "pitable oxide gold resources" at its Santa Gertrudis property in Sonora, Mexico, without using the applicable resource categories (measured, indicated and inferred). This disclosure violated National Instrument 43-101 Standards of Disclosure for Mineral Properties ("NI 43-101"), Part 2.2(a) that requires "An issuer must not disclose any information about a mineral resource or mineral reserves unless the disclosure uses only the applicable mineral resource and mineral reserve categories set out in sections 1.2 and 1.3". The Company is retracting such disclosure and has revised its corporate profile and presentation to clearly state the Company has an inferred resource estimate of 557,000 ounces of gold at its Santa Gertrudis project, with a cut-off grade of 0.30 ppm Au. For further details regarding the Company's inferred resource please refer to the Company's press release dated November 17, 2010.

The definition of "Inferred Mineral Resource" is that part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological/or grade continuity. It is based on information gathered through appropriate techniques from location such as outcrops, trenches, pits, workings and drill holes which may be of limited or uncertain quality and reliability.

The Company is also retracting the disclosure about its Desierto property on its corporate profile and the Company's website regarding the "10+ million ounces of gold" as it violated NI43-101 section 2.3(1)(a) that states "An issuer must not disclose the quantity, grade, or metal or mineral content of a deposit that has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral reserve, or a proven mineral reserve". This statement has been removed from the Company's corporate profile and its website.

Furthermore, the Company has removed the Santa Gertrudis map from its presentation and corporate profile which set out historical estimates that were not in compliance with section 2.4 of NI 43-101 as it did not provide the grade or quality and the quantity for each category of the mineral resources and mineral reserves disclosed.

Regarding the Company's inferred resource estimate, the Company has now included additional disclosure in its presentation and its corporate profile related to the effective date of such estimate, the key assumptions, parameters, methods used and the prominent statement that mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Company would like to further clarify that one of its intended corporate missions is to build upon the current (not "historic") inferred resource estimate at Santa Gertrudis. 

In addition, the Company would like to clarify that the statement on its website that "SG property produced 564,000 ounces…." was intended to give historical information on the property. However, this historical information did not include the required information as prescribed by NI 43-101. The Company has now amended its disclosure on its website with the following statement:

"From May 1991 to October 2000, the SG Property produced 564,000 ounces of gold at an average grade of 2.13 grams per tonne. During the same period, the Amelia Mine, previously owned by an Australian company, produced over 1 million tonnes at 2.88g Au/tonne ounces of gold from the Amelia deposits directly north of the Campbell operations. Remaining historic resources for the SG Property as reported by Campbell Resources (Oro de Sotula) when production ceased in 2000 (Barrera, November 30, 2000) include 8.1 million tonnes averaging 0.94 g Au/tonne on the Lopez-Limon concessions, and 5.9 million tonnes averaging 1.71 g Au/tonne on Sonora Gold Corporation's concessions. These historic resources cannot be relied upon as they do not meet CIM definition standards but are reported here for historical purposes only. The historic production figures were compiled by MDA. The Company has not completed sufficient work to validate the information and is not relying on these estimates as a current mineral resource estimate."

Finally, the Company, contrary to NI 43-101, did not disclose who the qualified person was approving the technical information on its corporate profile and presentation. The Company has since corrected this deficiency by updating its corporate profile and presentation to clearly identify that the Company's Chief Executive Office is the qualified person who has approved, prepared or supervised the preparation of the revised technical information.

About Animas Resources Ltd.

Animas Resources Ltd., a North American mineral resource company focused on acquisition and discovery, consolidated the Santa Teresa District's Santa Gertrudis precious metal and related deposits and prospects within a 562 square kilometer land holding. Our mission is to grow Animas through development, discovery and acquisition of high-quality mineral deposits and to build upon the current gold resource base at Santa Gertrudis, Mexico, and maintain a pipeline of only the highest quality projects. 

This news release was prepared by Company management, who take full responsibility for its content. The technical disclosure in this press release has been reviewed by John R. Wilson, a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators, and the President and CEO of Animas.

You may register to receive future news releases at www.animasresources.com.

John R. Wilson, President & CEO

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to drilling plans, timing of our planned NI 43-101 resource report, timing of assays, resource estimates, projections, our planned exploration and drilling programs, the availability of future financing for exploration and other plans, projections, estimates and expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Animas Resources Ltd.
John R. Wilson
President & CEO
604-687-6197
www.animasresources.com
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

Animas Resources

EXPLORATION STAGE
CODE : ANI.V
ISIN : CA0352651073
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Animas Res. is a gold and molybdenum exploration company based in Canada.

Its main exploration properties are SANTA GERTRUDIS and BACANUCHI in Mexico.

Animas Res. is listed in Canada. Its market capitalisation is CA$ 14.0 millions as of today (US$ 12.7 millions, € 9.2 millions).

Its stock quote reached its highest recent level on March 07, 2008 at CA$ 2.14, and its lowest recent point on November 15, 2013 at CA$ 0.03.

Animas Res. has 73 630 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Animas Resources
2008 Annual Report
Annual report 2007
Financings of Animas Resources
10/9/2013Extends Warrant Expiry Date
5/7/2013Completes $625,000 Financing
4/29/2013Private Placement Terms Amended
4/4/2013Arranges $600,000 Private Placement
6/21/2011Closes $1,015,000 Financing
Nominations of Animas Resources
12/2/2013appoints Mark T. Brown as President & CEO
Project news of Animas Resources
11/25/2013(Santa Gertrudis)agrees to sell Santa Gertrudis to GoGold Resources
10/4/2012(Santa Gertrudis)s on Gold Exploration at Santa Gertrudis, Mexico
4/20/2012(Santa Gertrudis)advances metallurgical test work planning and land access at...
10/7/2011Acquires Large Gold Property in the Sonora Gold Belt, Mexico
9/21/2011sells Kinsley Mountain interest to Pilot Gold Inc.
3/22/2011(Golden Arrow)Terminates Golden Arrow Option & Provides Project Updates
7/22/2010Encounters Molybdenum System At El Tigre, Starts New Ni43-10...
3/25/2010(Santa Gertrudis)Plans Exploration at Ariel Copper/Gold Target and Updates on...
11/19/2009(Santa Gertrudis)Updates Drill Progress at Santa Gertrudis; Grants Options
10/23/2009(Santa Gertrudis)Announces the drilling program has started at Santa Gertrudi...
9/28/2009(Santa Gertrudis)Announces Targets for Santa Gertrudis drilling program and M...
8/27/2009(Santa Gertrudis)signs contract for Santa Gertrudis drilling program.
7/3/2009(Santa Gertrudis)announces filing of its NI 43-101 report For the Santa Gertr...
5/20/2009(Santa Gertrudis)announces 23 % increase in the Cristina oxidized gold deposi...
3/2/2009(Santa Gertrudis)Drills 8.5 meters of 2.814 gpt Gold Which Includes 0.8 meter...
2/23/2009(Santa Gertrudis)Drills 26.6 Meters of 1.405 gpt Gold in the Santa Teresa Dis...
9/16/2008(Bacanuchi)Identifies Five Covered Porphyry Copper Targets and Complete...
6/20/2008(Santa Gertrudis)drill targets
3/6/2008(Santa Gertrudis)Acquires the San Enrique and Greta Properties
1/29/2008(Santa Gertrudis)Stakes an Additional 5,000 Hectares
Corporate news of Animas Resources
4/23/2014GoGold and Animas Announce Successful Acquisition of Animas ...
4/16/2014Animas Shareholders' Meeting - Approval of Arrangement
2/19/2014Encourages Shareholders to Tender Shares to GoGold Offer
1/8/2014mails Directors' Circular and cancels Special Meeting
12/30/2013Responds to GoGold proposal to Acquire Animas
9/12/2013(Santa Gertrudis)s on Ejido Election and Santa Gertrudis
7/19/2013(Santa Gertrudis)' Deal with DKM at Santa Gertrudis Expires
3/25/2013Clarifies Some of Its Prior Technical Disclosure
2/25/2013(Santa Gertrudis)Joint Ventures Santa Gertrudis for Gold Production
6/28/2012(Santa Gertrudis)Regains Full Access to Santa Gertrudis
8/31/2011to Raise $3.4 Million From a New Controlling Shareholder
6/9/2011Announces $1 Million Financing
5/3/2011(Santa Gertrudis)Commisions Study to Advance Santa Gertrudis, Prepares for Ad...
1/31/2011 Mineral Exploration Projects
7/20/2010Advances Exploration At Golden Arrow Gold Property, Nevada
2/11/2010Reports Encouraging Assay Results From the Escondida & Pirin...
11/3/2009Announces a second drill will be added at Santa Gertrudis.
7/6/2009Names Bob Bishop to Advisory Board; Reports on Larger Tonnag...
7/3/2009Al Korelin Interviews Bob Bishop and Greg McKelvey, Presiden...
6/30/2009Graduated to Tier One
1/8/2009Forms Special Committee to Evaluate Business Opportunities a...
9/10/2008and market update
7/22/2008recent coverage
6/27/2008begins new drilling
6/10/2008adopts sharholders rights plan
5/9/2008project development update press release
3/25/2008Stakes an Additional 10,770 Hectares
1/17/2008Transfers Outstanding Data to Mine Development Associates
1/15/2008Forms Geophysical Special Projects Group
1/10/2008Upcoming conference
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (ANI.V)
0.190+0.00%
TSX-V
CA$ 0.190
04/23 15:46 -
0%
Prev close Open
0.190 0.190
Low High
0.190 0.190
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.190 -%
Volume 1 month var.
5,000 -%
24hGold TrendPower© : 8
Produces
Develops
Explores for Copper - Gold - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/7/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.75+0.52%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 10.92-1.71%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.55+0.00%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06-8.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.38-3.64%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.32+0.46%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24-2.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.77-1.12%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.10-0.89%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :