|By Marketwired .||
|July 10, 2014 05:54 PM EDT||
MAPLE GROVE, MN -- (Marketwired) -- 07/10/14 -- Affinity Gold Corp. (OTC Pink: AFYG) (PINKSHEETS: AFYG) ("Affinity" or "the Company") is extremely pleased to announce that a Technical Report prepared in accordance with Canadian Securities Administrators National Instrument 43-101 ("NI 43-101") has been completed on behalf of Alicanto Mining Corp. ("Alicanto") for the Rionegro Project in Colombia in which Affinity has the rights to acquire a 49% interest, with the possibility to acquire up to a 75% interest, in Alicanto's Rionegro Project located in the Department of Santander, Colombia.
The technical report was prepared by Ricardo Valls, M.Sc., P.Geo., a qualified person under NI 43-101 (the "QP") from Fenix Geoconsult Ltd. Fenix Geoconsult Ltd. was retained by Mr. Raziel Zisman, Executive Chairman of Alicanto.
P. Geo. Ricardo Valls, Fenix Geoconsult Ltd.
Mr. Ricardo Valls is a professional geologist with over thirty years in the mining industry. He has extensive geological, geochemical, managerial skills, and a solid background in research techniques, and training of technical personnel. Mr. Ricardo Valls is a Qualified Person as set out in the National Instrument 43-101 and has been involved in various exploration projects worldwide, most recently in Colombia. Proven strengths include acquisition of new properties, geochemical and geological studies, management and organization, geomathematical analysis and modeling, compositional data analysis, structural studies, database design, QA&QC studies, and writing technical reports. Among his recent achievements was the sale of Calvista Gold Corporation to AUX Colombia in December 2012. Mr. Ricardo Valls also serves as the President & CEO of Alicanto.
Rio Negro Project, Santander, Colombia
The Rionegro project is located in an area represented by a very large Horst/Graben structure in Paleozoic Carbonaceous Conglomerates and other metasedimentary rocks. The Graben serves as the basin of the main Lebrija River in the area carrying gold in the active sediments and in sedimentary deposits of gold in paleoplacers which are amenable to open pit near-term production. The project comprises Alicanto's 7.66 square kilometer concession contract (JG3-16392) located within two licenses in the Rionegro area (PCL-11051 and PCL-11341) totaling approximately 188 square kilometers for which Alicanto has filed applications with Colombia's National Mining Agency.
- 7.66 square kilometers fully-owned and controlled outright with no third-party arrangements outside the joint-venture partners.
- Accessible project located approximately 30 Km Northwest from Bucaramanga, Colombia's sixth largest city, with very good infrastructure providing ready access to water, power, and labor.
- Very prospective geological structures for both hard rock and alluvial targets.
- Current alluvial mining operations by third-parties in nearby paleoplacers some 4 km downstream of the current concession contract. Based on the production parameters of that target and for a volume of 1000x1000x10 meters and gold grades varying from 0.3 to 1.5 g/m3, the QP estimates a potential mineralized zone of approximately 106,000 to 530,000 ounces. These estimates are of order of magnitude and they do not meet the criteria of a Mineral Resource. The existence of such mineralization in nearby locations is not necessarily indicative of the mineralization of the Rio Negro Project.
- Focus on attaining near-term production from Rionegro's sedimentary deposited gold to be followed by an exploration program for the rest of the project.
Alicanto's Executive Chairman, Mr. Raziel Zisman stated that "the NI 43-101 Technical Report supports Affinity's and Alicanto's strategy to start near-term gold production from Rionegro's sedimentary deposits by means of open pit mining based on a low-capex model utilizing proven technologies with the goal of ramping up production in an orderly manner. Alicanto's technical staff in Colombia is presently advancing the studies, including the work plan and environmental report, needed in to obtain a permit to start production which is expected to take place by Q4 2014. Generating cash flow from the Rionegro project will allow Alicanto to apply its experienced and accomplished exploration team to further advance value discovery for Rionegro's hard rock and sedimentary components."
Affinity's President & CEO, Mr. Corey Sandberg stated that "I'm extremely pleased with the progress being made on the Rionegro project and the potential upside that continues to be shown as we further our studies of both the hard rock and alluvial aspects of the project. The NI 43-101 Technical Report for Rionegro lends tremendous credibility and merit to the project's overall potential in terms of near-term production and long term exploration. I couldn't be more pleased with how our strategic relationship with Alicanto Mining continues to progress and develop."
About Alicanto Mining Corp.
Alicanto Mining Corp. ("Alicanto") is a technically-driven, project-generating private exploration company with offices in Toronto, Canada and Bucaramanga, Colombia. Alicanto is focused on Project Generation Through Effective Exploration. Alicanto's model is based on identifying prospective properties in underexplored areas and creating value by completing sufficient geological work to determine ore resources and then generally seeking to monetize projects by entering into earn-ins or JVs with senior mining companies. Alicanto is led by a multilingual team with over 100 years of successful international field experience and is currently primarily involved in gold and copper projects in Colombia and Armenia.
For additional information please visit Alicanto's website at www.alicantomining.com
About Affinity Gold Corp.:
Affinity Gold Corp. is a mineral exploration and development company engaged in the acquisition and development of near-term precious mineral production properties within Peru. Affinity Gold Corp.'s primary focus is on developing assets that have demonstrated historical production, contain documented and reliable data and can reasonably begin producing within 12-18 months at a cost of less than $900 per gold equivalent ounce.
For further information please refer to the Company's filings with the SEC on EDGAR available at www.sec.gov
NOTICE TO U.S. INVESTORS
THE MINERAL RESOURCES REFERRED TO HEREIN HAVE BEEN ESTIMATED IN ACCORDANCE WITH THE DEFINITION STANDARDS ON MINERAL RESOURCES OF THE CANADIAN INSTITUTE OF MINING, METALLURGY AND PETROLEUM REFERRED TO IN NI 43-101 AND ARE NOT COMPLIANT WITH U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC") INDUSTRY GUIDE 7 GUIDELINES. IN ADDITION, MEASURED MINERAL RESOURCES, INDICATED MINERAL RESOURCES AND INFERRED MINERAL RESOURCES, WHILE RECOGNIZED AND REQUIRED BY CANADIAN REGULATIONS, ARE NOT DEFINED TERMS UNDER SEC INDUSTRY GUIDE 7 AND ARE NORMALLY NOT PERMITTED TO BE USED IN REPORTS AND REGISTRATION STATEMENTS FILED WITH THE SEC. ACCORDINGLY, WE HAVE NOT REPORTED THEM IN THE UNITED STATES. INVESTORS ARE CAUTIONED NOT TO ASSUME THAT ANY PART OR ALL OF THE MINERAL RESOURCES IN THESE CATEGORIES WILL EVER BE CONVERTED INTO MINERAL RESERVES. THESE TERMS HAVE A GREAT AMOUNT OF UNCERTAINTY AS TO THEIR EXISTENCE, AND GREAT UNCERTAINTY AS TO THEIR ECONOMIC AND LEGAL FEASIBILITY. IN PARTICULAR, IT SHOULD BE NOTED THAT MINERAL RESOURCES WHICH ARE NOT MINERAL RESERVES DO NOT HAVE DEMONSTRATED ECONOMIC VIABILITY. IT CANNOT BE ASSUMED THAT ALL OR ANY PART OF MEASURED MINERAL RESOURCES, INDICATED MINERAL RESOURCES OR INFERRED MINERAL RESOURCES WILL EVER BE UPGRADED TO A HIGHER CATEGORY. IN ACCORDANCE WITH CANADIAN RULES, ESTIMATES OF INFERRED MINERAL RESOURCES CANNOT FORM THE BASIS OF FEASIBILITY OR OTHER ECONOMIC STUDIES. INVESTORS ARE CAUTIONED NOT TO ASSUME THAT ANY PART OF THE REPORTED MEASURED MINERAL RESOURCES, INDICATED MINERAL RESOURCES OR INFERRED MINERAL RESOURCES REFERRED TO HEREIN ARE ECONOMICALLY OR LEGALLY MINEABLE.
This news release may include "forward-looking statements" regarding Affinity Gold Corp., and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Affinity Gold Corp. expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Affinity Gold Corp. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Apr. 29, 2016 09:15 PM EDT Reads: 253
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
Apr. 29, 2016 09:00 PM EDT Reads: 1,519
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
Apr. 29, 2016 08:30 PM EDT Reads: 1,738
New Relic, Inc. has announced a set of new features across the New Relic Software Analytics Cloud that offer IT operations teams increased visibility, and the ability to diagnose and resolve performance problems quickly. The new features further IT operations teams’ ability to leverage data and analytics, as well as drive collaboration and a common, shared understanding between teams. Software teams are under pressure to resolve performance issues quickly and improve availability, as the comple...
Apr. 29, 2016 07:30 PM EDT Reads: 2,398
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Apr. 29, 2016 05:15 PM EDT Reads: 1,685
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Apr. 29, 2016 04:30 PM EDT Reads: 618
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
Apr. 29, 2016 04:30 PM EDT Reads: 1,766
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 29, 2016 03:45 PM EDT Reads: 1,597
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 29, 2016 03:30 PM EDT Reads: 1,659
As you respond to increasing requests for new analytics, you need fast and flexible technology in your arsenal so that you can deploy the right workload to the right platform for the need at hand. Do you need self-service and fast time to value? Do you have data and application control and privacy needs, along with strict SLAs to meet? IBM dashDB™ is data warehouse technology powered by in-memory computing and in-database analytics that are designed for fast results, scalability and more.
Apr. 29, 2016 03:15 PM EDT Reads: 1,536
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Apr. 29, 2016 03:00 PM EDT Reads: 844
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Apr. 29, 2016 02:45 PM EDT Reads: 845
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Apr. 29, 2016 02:30 PM EDT Reads: 1,403
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Apr. 29, 2016 02:30 PM EDT Reads: 1,407