Welcome!

Microsoft Cloud Authors: Janakiram MSV, Pat Romanski, Steven Mandel, John Basso, Liz McMillan

News Feed Item

Malbex Resources Inc. to Acquire the Los Guandules Verdes Exploration Concession in the Dominican Republic

TORONTO, ONTARIO -- (Marketwire) -- 01/25/13 -- Malbex Resources Inc. ("Malbex") (TSX VENTURE:MBG) is pleased to announce that it has entered into agreements that allow it to acquire control of the Los Guandules Verdes exploration concession in the Dominican Republic (the "Property"). The Property is immediately south of the Nieta Concession currently being explored by Unigold Inc. ("Unigold") (TSX VENTURE:UGD) and approximately 15 kilometres northwest of GoldQuest Corporation's (TSX VENTURE:GQC) La Escandalosa project. Like the Nieta and La Escandalosa concessions, Los Guandules Verdes concession is underlain by the mid-Cretaceous Tireo Group which is host to various zones of volcano sedimentary-related gold and copper-zinc-silver mineralization elsewhere in the Domincan Republic.

"We are extremely pleased to have been able to acquire this strategic property in an area that is quickly becoming the focus of mineral discoveries," stated Joe Hamilton, CEO of Malbex. "The Dominican Republic is both economically and politically stable and remarkably prospective for the discovery of new gold deposits. This property diversifies the Malbex exploration efforts and should provide shareholders with new opportunities for discovery. We will continue to advance our Argentinean Del Carmen concession through preliminary economic studies and updated resource calculations over the coming months while establishing new exploration programs in the Dominican Republic."

About the Property

The Los Guandules Verdes concession is located in the Central Cordillera of the Dominican Republic. The western boundary follows the international border with Haiti while the eastern boundary is approximately 300 metres from the Nalga de Maco National Park (Figure 1).

The Property contains the Cretaceous age Tireo Group rocks which are overlain to the southwest by a veneer of "flysch" type calcareous slates, limestones, sandstones and shales of the Peralta Formation (Figure 2). The Duarte Formation within the Tireo Group trends parallel on the northeast side of the property and consists of metabasalts, volcanic tuffs, amphibolites and schists. Further to the north, the Tireo Group is in contact with tonalite, diorite and gabbro intrusive bodies. In general, the Tireo Group consists of andesite and basalt volcanic and volcanoclastic rocks with lesser felsic volcanics and limestone. Dacite porphyry and smaller sinuous ultramafic bodies are found throughout the area.

The Tireo Group is host to volcanogenic sulphide deposits that are currently being drilled by Goldquest Mining Corp. at the Escandolosa Project and by Unigold Inc. at the Candelones Project. Previous work on the Property has included limited soil geochemical grids and some surface prospecting (Figure 2). Historic showings within the Nalga de Maco National Park appear to trend onto the concession but no modern exploration has been conducted to test the extent of these trends.

Malbex intends to commence a program of geological mapping, surface sampling and geophysics in order to quickly identify drill targets for later follow-up. Work programs in the Dominican Republic can be conducted throughout the year.

About the Transaction

The "Americana Transaction"

Malbex has completed a definitive agreement with the shareholders of Americana de Explotaciones Mineras S.R.L. ("Americana"), a Dominican private company, to acquire all of the issued and outstanding shares in the capital of Americana for a purchase price of RD$100,000 Dominican pesos (the "Americana Transaction"). Americana has an application pending for the Los Guandules Verdes concession. Malbex expects that this licence will be granted within the next six weeks.

The "Unigold Agreement"

The shareholders of Americana had previously granted Unigold the option to acquire all of the shares in Americana, or the Property licence, for nominal consideration. In connection with the acquisition of Americana, Malbex has entered into an agreement with Unigold (the "Unigold Agreement" and together with the Americana Transaction, the "Transaction") to cancel the outstanding option. In exchange for Unigold agreeing to consent to the acquisition by Malbex of all of the outstanding shares of Americana and to cancel the option, Malbex has agreed to issue to Unigold 13,000,000 common shares of Malbex and grant Unigold a 2% net smelter return royalty on the Property. Malbex can buy back half of the net smelter return royalty for $1 million (leaving Unigold with a royalty equal to 1% of net smelter returns). If Malbex identifies at least 2 million ounces of measured and/or indicated resources (based on a NI43-101 report) within the first 5 year term of the exploration concession, then Malbex must issue an additional 5,000,000 common shares to Unigold. All such common shares of Malbex which may be issued to Unigold pursuant to the Unigold Agreement will be subject to a hold period of four months from the time of the issue of such common shares.

Closing Conditions

The Unigold Agreement is subject to the granting of the Los Guandules Verdes concession licence by the Dominican government, and subject to final TSX-V approval.

The consideration to be paid pursuant to the Transaction, without considering the royalty or the "top-up" shares based on identified measured and/or indicated resources, is equal to approximately C$1.4 million based on the 20-day VWAP of Malbex shares prior to this announcement. Approximately $340,000 has been spent by Unigold to date on the Property in acquisition, geochemical and mapping campaigns. Management of Malbex considers the Property to be highly prospective for gold and copper mineralization based upon the close proximity to recent discoveries and the existence of mapped outcrops of Tireo Group rocks along strike from known mineralization. Further, the Property contains known geophysical and geochemical anomalies that will be scheduled for follow-up work as soon as possible. Closing of both the Americana Transaction and the Unigold Agreement are conditional upon receipt of shareholder approval of the Transaction and the consideration payable by Malbex in connection therewith, all of which is expected to be tabled for consideration and, if deemed appropriate, approval by shareholders at Malbex's upcoming annual and special shareholders meeting, which is expected to be scheduled in March, 2013.

The Transaction is considered to be a "non-arm's length" transaction within the meaning of the policies of the TSX-V due to the fact that Mr. Joe Hamilton is a common director of both Malbex and Unigold.

About Malbex

Malbex is a gold exploration company led by experienced management and directors with projects in Argentina. In April 2010, Malbex made a near-surface, gold- silver oxide discovery at Del Carmen, its lead project in Argentina. In September 2011, Malbex released the first-ever inferred mineral resource estimate calculated in accordance with National Instrument 43-101 for the Rojo Grande deposit at Del Carmen which measured 25.4 million tonnes grading 1.00 g/t gold and 13.3 g/t silver for 816,600 ounces of contained gold and 10.9 million ounces of contained silver. Heap-leach metallurgical recoveries from column tests were estimated between 75% and 85%. The Del Carmen project is located in the El Indio Gold Belt, which contains more than 35 million ounces of gold in current reserves and past production, including Barrick's Veladero mine and Pascua-Lama project. Preliminary economic assessments are underway for this project and an updated resource is expected to be published in by the end of June 2013. For more information, please visit www.malbex.ca.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, licence renewals and granting of concessions, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

To view the Figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/MBG-Figures.pdf.

Neither the 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.