WVUTrader
17 years ago
SAINTE-FOY, Quebec, Feb 22, 2007 (PrimeNewswire via COMTEX News Network) --
Plexmar Resources Inc. (TSX-V:PLE) is pleased to report an exploration update from the Escondida project in southeastern Ecuador.
A preliminary, non systematic, conventional stream sediment survey was carried out in December 2006 and has been recently compiled. It consisted of 34 stream sediment samples covering concessions Escondida III and Escondida IV, taken in the drainage system surrounding a series of plateaux between the Zamora and Nagaritza rivers.
During sampling, a review of the geological units was done at the sampling sites.
On Escondida IV, the government geological map previously showed the Zamora batholith covering most of the concession. After field review, the Misahualli volcanic and tuff unit, the same volcanic unit hosting Aurelian's Fruta del Norte deposit, was observed in numerous outcrops and boulders in the southern part of Escondida IV and northern part of Escondida III and covers most of the concession. The map can be found on the company's website www.plexmar.com
The geochemistry results behavior may be explained by the revision of geological units:
* In the Zamora batholith, gold in stream sediments is usually very low (less than 10ppb) * In the general area where the volcanic unit was observed, gold values in stream sediments were higher, between 14 and 47 ppb, with three higher values (91 ppb, 319ppb, 600ppb).
Higher values are distributed in three different drainage systems in the northeastern section of Escondida IV.
"This is very significant as we can now say that on Escondida IV, we have the same volcanic unit as Fruta del Norte, located 20 kms away, and there is gold in the streams running down from this unit. We hope the next phase of work will locate the source of gold on the higher plateaux," says Guy Bedard, president.
Detailed follow-up work will help define the newly discovered potentially gold-bearing geological environment. A systematic stream sediment sampling and mapping program will be undertaken shortly and will cover most of the Escondida concessions.
Samples were assayed by ALS Chemex in Lima, Peru. Stephane Amireault, P.Eng, acted as the QP for the preparation of this release and is in charge of the field exploration programs in Ecuador.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
About the Escondida project
The Escondida project represents one of the largest land positions in the Cordillera del Condor near Aurelian Resources' Fruta del Norte gold discovery. The project covers 84,110 hectares (841.1 km2) and borders Aurelian's large land package on the western flank and north of Corriente Mirador project. Fruta del Norte is believed to be the most significant gold discovery made by a junior miner in over a decade. Corriente is planning to produce annually 250 million lbs. of copper starting in 2008.
During its due diligence process on the Escondida I and II concessions, Plexmar took 44 samples, 12 returned anomalous values of gold and the best values were: 14.2 g/t, 38.4 g/t, 91.4 g/t and 396.0 g/t Au confirming the high potential of the area. The samples are located on the Escondida II concession adjacent to Aurelian's ground and approximately 8 kilometers northwest of Fruta del Norte.
This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
This news release was distributed by PrimeNewswire, www.primenewswire.com
sumisu
18 years ago
Plexmar Resources Inc.: Corporate Update
Tuesday December 5, 11:53 am ET
QUEBEC, Dec. 5, 2006 (PRIME NEWSWIRE) -- Plexmar Resources Inc. (TSX VENTURE:PLE.V - News) (the ``Company'') provides the following update to shareholders from its President, Guy Bedard:
Dear Shareholder, the Company has made significant progress in the past months. In northern Peru, spectacular high-grade gold exploration results from Bolsa del Diablo were obtained and the Company received a Supreme decree to operate near the Ecuadorian border.
The airborne survey detected a large magnetic and potassic anomaly measuring 2.5km x 2.8km coincident with a mapped intrusive body. The ground geophysical program over the 6 sq. kms alteration zone is on-going and should be completed shortly. Preliminary results from the IP program indicate that high resisitivity is consistent with silicification associated with the veins. At 100 meters of depth, the resisitivity decreases and the chargeability increases. This may represent an increase in sulphide mineral content that would be consistent with a gold bearing alteration system which is the target the Company is exploring for. A PIMA sampling program over the zone is also near completion. Application for a drill permit has been submitted and a drill contractor has been located and is on standby.
Presidential Elections in Ecuador
The Company does not believe that the election of Rafael Correa will adversely affect its ability to explore and develop its projects in Ecuador. The country has become a major focus globally of mining explorers because of recent large discoveries and untapped mineral potential. Well before the present great interest developed, Plexmar staked a significant amount of land in northern Peru and, more recently, southern Ecuador. Plexmar and its local partners fully expect to pursue its great relationship with the Ecuadorian government
In southern Ecuador, the Company acquired 841 km2 of prime land adjoining Aurelian and Corriente. Geological crews are currently on the ground doing the preliminary mapping and prospecting in the vicinity of the 396 g/t Au sample located some 6 kms northwest of Aurelian's Fruta del Norte deposit. Assays will be released shortly.
We are very confident about the Company's prospects and continue to work to generate value for our shareholders.
Guy Bedard
President and Chairman
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
About Plexmar
Plexmar is a publicly listed junior mining exploration Company (TSX.V:PLE) with properties in Peru and southern Ecuador. It holds over 220 km2 of land in northern Peru at the Bolsa del Diablo project and over 840 km2 in the cordillera del Condor in southern Ecuador near Aurelian and Corriente.
This press release includes certain statements that may be deemed ``forward-looking statements''. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Contact:
Plexmar Resources Inc.
Guy Bedard, President
(418) 658-6776
Paradox Public Relations
(866) 460-0408
(514) 341-0408
--------------------------------------------------------------------------------
Source: Plexmar Resources Inc.
sumisu
18 years ago
Total888,
I'm in PLE, LRG, GML, and NVT.
These may or may not have some Aurelian characteristics. We never know when to take some profits for fear that the stock might take off.
Finally a few week's ago, I sold 20,000 shares of LRG, pocketed some good profits, and then bought back 5,000 shares to reach one-half of my former position.
You know what, I should have sold every one of these stocks on a spike and then bought back in. Easy to look back now that they acted this way. But the stock market consists of two parties: investors for the long term and traders for a short term profit.
In summary, for every penny stock I hold, I will be taking part of the position and sell for profit. I will be an investor and a trader. Maybe it's good to wear two hats.
I really don't know too much about PLE, especially its management.
Long term, I hope to make profits in gold, and then reinvest the profits in energy stocks. My favorites are listed under my profile, but WHD and DJE are great buys at these levels.
Hope this has helped you,
sumisu
calgarylady
18 years ago
From Stockwatch
PLEXMAR RESOURCES INC.
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the six month period ended June 30, 2006
Scope of management’s financial analysis
This report represents a complimentary addition to the financial statements by providing
contextual and prospective information that is not found in the latter. This analysis was
prepared in accordance with Canadian generally accepted accounting principles (GAAP).
Corporate profile and mission
Plexmar Resources Inc. («the Company») is a mining exploration company with
properties in Northern Peru. On the Bolsa del Diablo project, the company owns 100% of
the mining rights in over 220km2 of prospective land and has the right to acquire 100%
of the mining rights in two projects in return for cash payments according to the
agreements. The Company also owns the Marilia and Cascajal projects, both located in
Northern Peru in the la Libertad department.
The Company has no revenues.
The current exploration program is funded by privates placements of $663,500 and
$1,250,000 closed in December 2005 and January 2006.
Forward-Looking information
During the second quarter of 2006, exploration activities were concentrated on the Bolsa
del Diablo project. Prospection, sampling and mapping was carried out mostly on the
Angolos and adjacent concessions. Geologists have uncovered a large scale gold
alteration system, with alteration and mineral compositions reminiscent of a high
sulphidation epithermal system covering an area of at least 2,5km x 1,5km. More work is
necessary to support these affirmations. Mapping, trenching and soil sampling will be ongoing
for another month or two. Ground geophysics, (Induced Polarization) will be
carried out in the next quarter. The interpretation from the geophysics and near the end of
the second quarter, ground geophysics were started. Ground magnetic and topographic
surveys are presently being carried out. Also, an airborne magnetic survey covering the
whole project will be done. These surface works will generate multiple targets to be
drilled starting near the end of the third quarter. Exploration activities on Bolsa del
Diablo consisted of Exploration expenses totalling $166,467.
June 21,2006, The Company, signed a letter of intent to acquire more then 900 km2 of
exploration concessions in the south eastern part of Ecuador in the vicinity of Aurelian
Resources (ARU-TSX) high grade gold discovery. The Company has the right to
evaluate the property for a period of 60 days in return for a cash payment of $125,000
US. A team of geologists is on the ground and our Peruvian attorney is verifying the legal
titles. The Company will inform its shareholders of the due diligence in a timely manner.
No work was performed on the properties Lucma, Oro Del Norte I, II & III et Grand
Chimu I & II
With $2,158,385 in cash for exploration, total current assets of $2,377,743 and current
liabilities of $618,518 the company is in good financial situation.
Selected financial information
The table below presents selected financial data for the company's three most recently
completed fiscal years ended December 31:
2005
$
2004
$
2003
$
Loss for period* 1,010,150 2,605,455 1,840,931
Loss per share (Basic and Diluted) 0.02 0.06 0.07
Total Assets 2,056,202 1,906,551 664,388
Total Liabilities 581,886 310,925 97,392
* The loss for 2005 included of the cost of mining properties abandoned in the amount of $ 32,980
* The loss for 2004 included of the cost of mining properties abandoned in the amount of $ 957,620
* The loss for 2003 included of the cost of mining properties abandoned in the amount of $ 852,290
Results of Operations
The operating expenses for the quarter ended June 30, 2006 include the charges from the
foreign subsidiary. This amount breaks down as follows: $,22,022 for professional fees,
$1,1194 for traveling fees, $ 7,404 for office expenses and financing fees, $490 for
depreciation of property, plant and equipment and 1,208$ for banking charges.
The company spent in exploration costs a total of $162,467 during the period on the
Bolsa del Diablo property (Peru). Total spent in exploration costs for the period of six
months ended June 30, 2006 stands at $431,876.
Summary of Quarterly Results
Quarter ended Total Net loss Loss per
Revenues share
$ $ $
June 30, 2004 6 652 374 168 0,01
September 30, 2004 4 764 166 970 0,00
December 31, 2004 3 764 1 760 755 0,04
March 31, 2005 2 121 139 251 0,01
June 30, 2005 197 261 196 0,01
September 30, 2005 - 249 560 0,01
December 31, 2005 2 091 360 143 0,01
March 31, 2006 70 885 440 381 0,01
June 30, 2006 - 283 987 0,01
sumisu
18 years ago
Plexmar Resources Inc.: Border Permit Award and Acquisition
8/3/2006
SAINTE-FOY, QUEBEC, Aug 03, 2006 (MARKET WIRE via COMTEX News Network) --
Plexmar Resources Inc.(TSX VENTURE: PLE), is pleased to announce that it has received the final documented government approval, a Supreme Decree from the President of the Republic of Peru allowing its subsidiary Minera ChanChan SAC to legally operate within 50 kilometres of the border with Ecuador. This award is a major step towards obtaining the drilling permit.
The decree covers the first 8 concessions that were originally staked and optioned, which constitute the core of the Bolsa del Diablo project. The application process has already started to obtain a second Decree for the remaining 17 concessions. The process is expected to be a lot shorter this second time around
According to the constitution of Peru, within 50 kilometers of the border, foreigners cannot acquire any mining titles, land, water rights and oil & gas rights directly or indirectly when backed by foreign capital unless they are awarded a Supreme Decree by the Council of Ministers. The process is a lengthy one and requires approval by the Ministry of Mines, the Army, the Council of Ministers and then by the President of the Republic himself.
Guy Bedard, president says: "We are delighted to have been awarded the Decree in record time. This is another milestone for the project; Plexmar is now the only foreign Company in the Bolsa del Diablo sector to have full legal rights to operate. The process was started in February 2005 and was recently completed. Only a few similar Decrees have ever been awarded to foreign Companies in the past ten years."
Ground geophysics is progressing well and should be completed along with the airborne geophysics near the end of this month. Assay results are pending from the lab and are expected shortly, patience is needed as labs are extremely busy this time of the year.
In Ecuador, the due diligence is progressing well on the 900km(2) property. Geologists have visited key areas of the property and a legal team is revising the titles status. Shareholders will be informed of the results as soon as they become available.
Also, the Company has signed a contract with a local prospector to purchase 100% of the mining rights of 3 different concession blocks covering over 7,000 hectares (70 km2) located near the Bolsa del Diablo project. On block No.1, local miners who are mining high grade zinc, silver and gold ores, which is being shipped directly to Asia for process. On block No.2, the concessions surround properties already owned by our subsidiary near Sapillica. Approximately 100 informal miners are pulling out gold on a daily basis. Block No.3 is directly in line with the structural corridor of Bolsa del Diablo and is adjacent to 2 small underground mines being developed by local mining companies. Plexmar will issue a total of 2,000,000 shares to the owner and a cash payment of $50,000US.
103M shares outstanding
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Plexmar Resources Inc. Guy Bedard President (418) 658-6776 Paradox Public Relations 1 (866) 460-0408 1 (514) 341-0408
SOURCE: Plexmar Resources Inc.
Copyright 2006 Market Wire, All rights reserved.
calgarylady
18 years ago
Plexmar Resources Inc.: Granting of Stock Options
CCNMatthews
QUEBEC CITY, QUEBEC--(CCNMatthews - July 6, 2006) - Plexmar Resources Inc. (TSX VENTURE:PLE) wishes to announce that it has granted an aggregate of 2,000,000 incentive stock options to directors, key employees, consultants and Paradox Public Relations. Each option entitles its holder to purchase one common share of the Company for a period of five years from July 6, 2006 at an exercise price of $0.51 per share. These options are subject to a hold period of four months from today's date, as required by the TSX Venture Exchange (the "Exchange") and in accordance with securities laws.
Also, the Company wishes to announce that it is pursuing its relationship with Paradox Public Relations and is extending its contract to June 1st, 2007. Paradox has been awarded 400,000 incentive stock options at $0.51 for a period of 12 months.
This grant is subject to regulatory approvals, and is made pursuant to the Company's Stock Option Plan.
Also, the Company announces that the Fonds de Solidarite des travailleurs du Quebec (FTQ Fund) has decided to convert its $150,000 debenture into shares at $0.20 per share according to the agreement signed on June 13th, 2003. A certificate representing 750,000 shares will be issued to the FTQ Fund.
FOR FURTHER INFORMATION PLEASE CONTACT:
Plexmar Resources Inc.
Guy Bedard
President
(418) 658-6776
www.plexmar.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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