|By Marketwired .||
|March 3, 2013 08:28 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/03/13 -- BCGold Corp. (TSX VENTURE:BCG)(PINKSHEETS:BCGOF)("BCGold" or the "Company") is pleased to announce it has signed a Letter of Intent ("LOI") with Solid Holdings Ltd. ("Solid") whereby Solid will finance and construct a minimum 30 tonne per day turn-key mine, mill and gold refining operation (the "Engineer Mine") at BCGold Corp.'s historic Engineer Mine property, situated 32 km west of Atlin, British Columbia. Within a 3 year time-frame Solid is required to produce a minimum of 10,000 ounces of gold, with 1,500 ounces to BCGold's credit, on a gross-sale basis from the Engineer Vein on 6 and 7 Levels of the underground mine workings. Upon completion of these provisions, Solid may elect to acquire a 50% interest in the Engineer Mine by way of a joint venture agreement ("JV") with BCGold Corp. (see Proposed JV Terms below).
Further details of the 3 year earn-in period are as follows:
-- BCGold and Solid have 45 days to complete due diligence and finalize a definitive agreement -- Solid will provide engineering, procurement, design, civil works and other construction expenses, as well as all administrative and infrastructure expenses associated with the Engineer Mine -- Solid will cover all operating and initial/ongoing capital costs associated with the Engineer Mine -- Solid will retain 85% of gross gold sale proceeds (remaining 15% to go to BCGold Corp.) of the initial 10,000 ounces of gold production in the form of dore bars or marketable gold-rich concentrate
"BCGold is very pleased to enter into this agreement with Solid," states Brian P. Fowler, P.Geo., President and CEO of BCGold Corp. "This agreement provides BCGold Corp. with cash flow during the 3 year earn-in period and a 50% interest in a fully functional mine and mill complex at no cost to the Company. Management of BCGold and Solid believe that previous exploration and bulk sampling results at Engineer Mine substantiates the basis for a sustainable small-scale gold mining operation."
Proposed JV Terms
Should the terms of the LOI be met, and Solid choose to enter into a JV with BCGold Corp., it will entail a 50/50 split ownership of the Engineer Mine and surface and mineral rights of the crown grant property, with certain specified exceptions. The JV will be responsible for management and operation of the Engineer Mine, including all associated operating and ongoing capital costs, as well as near-mine exploration and resource definition. Net proceeds from gold sales will be distributed to the JV partnership on a 50/50 basis.
BCGold Corp. will retain 100% mineral rights to the Hub A, Hub B, Shear A, and Shear B bulk tonnage exploration targets. BCGold Corp. will also retain the Guardsmen option, where the Company may earn up to 100% interest in the surrounding 2,104 ha Gold Hill property (see news release dated October 4, 2010).
Should Solid elect not to proceed with the JV, BCGold shall have right of first refusal with respect to any infrastructure proposed to be sold by Solid.
About Solid Holdings Ltd.
Solid Holdings Ltd. is a private company headed by Stan Spletzer of Houston, British Columbia. Mr. Spletzer, President of Solid and President of Solid Gold Capital Inc., a finance company focused on new mineral projects, brings over 30 years of contracting experience related to aggregate mining, road construction, logging, and silviculture in northern British Columbia. Solid owns and operates a gold processing plant and assay lab in Houston and holds contracts with several local mining projects. It intends to construct a similar plant at Engineer Mine.
Solid has partnered with High Velocity Training and Cobra Mining & Excavating Ltd. to set up equipment training projects throughout British Columbia and Alberta that bring industry and First Nations together in profitable partnerships. It is envisaged that a similar partnership will occur at Engineer Mine.
About Engineer Mine
Engineer Mine was a high-grade gold producer that came to peak production in the mid-1920s and ceased operation in the early 1930s. More than 560 kg (18,000 oz) of gold and 278 kg (8,950 oz) of silver were officially produced at realized grades exceeding 39 g/t Au and 20 g/t Ag, primarily from the Engineer and Double Decker veins on six of eight mine levels. There is more than 5,500 m of underground development in place, which provide access to seven high-grade gold veins and two bulk tonnage mineralized shear zones. Surface exploration work has shown there are 25 known veins on the property. All veins remain open at depth and little exploration has been conducted deeper than 200 m below surface.
BCGold Corp. has incurred $3.6 million in acquisition, exploration and development expenditures at the Engineer Mine since 2007. The Company's work includes the definition of an NI43-101 Inferred Mineral Resource of 41,000 tonnes grading 19.0 g/t Au, representing remnant portions of the Engineer and Double Decker veins down to 8 Level (see news release dated March 4, 2011).
In 2011, BCGold Corp. successfully test-milled a 246 tonne bulk sample from 5 Level of the underground workings (see news release dated February 27, 2012). Bulk sampling returned results up to 68.9 tonnes grading 44.6 g/t Au and resulted in the discovery of two high-grade gold-shoots partially outside of the Inferred Resource of the Engineer vein. In 2012, the Company confirmed these high-grade shoots have a vertical down-dip plunge by dewatering, geologically mapping, and panel sampling 6 and 7 Levels of the mine workings. The two high-grade gold-shoots represent an exploration target of 6,000 to 8,600 tonnes, grading 30 g/t to 60 g/t Au, for up to 17,000 ounces of contained gold((i)).
((i)The potential quality and grade of this exploration target is conceptual in nature, as there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.)
BCGold Corp. owns a 100% interest in the Engineer Mine property with no underlying royalties. The Company holds all necessary operating permits to dewater the mine workings, and mine and mill an initial 4,000 tonne bulk sample. The Company will apply to increase the bulk sample tonnage permit on an as needed basis.
About BCGold Corp.
BCGold Corp. (TSX VENTURE:BCG) is focused on exploration and development of its 100%-owned historic Engineer Mine and the adjoining Gold Hill properties, situated in northwestern British Columbia. Since 2007, the Company has incurred approximately $3.9 million in expenditures to demonstrate the exploration upside and near-term mining potential of these properties.
BCGold Corp. has generated 27 early to mid-stage gold and copper-gold properties in British Columbia and Yukon that it will continue to advance through sourcing preferred joint venture partners.
BCGold Corp. is unique in that it exposes investors to the prospect of discoveries while being positioned to offset exploration costs by monetizing / forward-selling gold concentrate recovered from on-site processing of high-grade gold bulk samples at Engineer Mine.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo., President & CEO
Some statements in this news release contain forward-looking information or forward-looking statements. These statements include, but are not limited to, statements with respect to future expenditures and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration, development and production activities. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Aug. 29, 2015 07:30 PM EDT Reads: 372
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 29, 2015 06:00 PM EDT Reads: 373
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
Aug. 29, 2015 03:45 PM EDT
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 29, 2015 03:30 PM EDT Reads: 420
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Aug. 29, 2015 11:00 AM EDT Reads: 197
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Aug. 29, 2015 11:00 AM EDT Reads: 242
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Aug. 29, 2015 10:30 AM EDT Reads: 110
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 29, 2015 09:30 AM EDT Reads: 848
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Aug. 29, 2015 08:45 AM EDT Reads: 583
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Aug. 29, 2015 08:45 AM EDT Reads: 198
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Aug. 29, 2015 07:45 AM EDT Reads: 129
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Aug. 28, 2015 07:45 PM EDT Reads: 196
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Aug. 28, 2015 06:00 PM EDT Reads: 325
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Aug. 28, 2015 05:30 PM EDT Reads: 413
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Aug. 26, 2015 07:00 AM EDT Reads: 122
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Aug. 2, 2015 11:15 AM EDT Reads: 545
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 475
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 30, 2015 07:30 PM EDT Reads: 1,561
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Jul. 30, 2015 02:30 PM EDT Reads: 275
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,223