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Senator Minerals Inc ~ News Releases in 2007 TSX-V: SNR Senator Minerals Inc is a TSX-Venture-listed junior exploration company with a diverse portfolio of property interests in North America.
Senator controls: 2207-11 29 Nov 07 "Taurus Cu-Mo-Au Project, Alaska" Management of Senator Minerals Inc (“Senator”) replies to inquiries regarding its Taurus property and implications of NovaGold/Teck Cominco’s suspension of the Galore Creek project. Tony Simon comments, “We believe that the suspension of the Galore Creek project enhances the potential value of Taurus. When one of the world’s largest copper-gold resources is taken off-line, even temporarily, the effect is to reduce supply in a time of escalating demand. Among other factors, Galore Creek used conservative feasibility numbers in 2006 that included $1.50 copper, $525 gold, $8.00 silver, and a C$ of US$0.81. We have seen huge changes in commodity and C$-US$ exchange pricing in the last year. In addition, rapidly increasing energy prices and an unprecedented demand in British Columbia for labor and materials have driven up costs. An updated feasibility study should bring Galore Creek back on track at some point. We believe these changes are representative of the future. The last decade of exploration has not produced major discoveries at a rate to replace those deposits being exploited and long-term demand is projected to be high, so increased costs and greatly increased commodity prices are likely to be the result as priorities change and mining becomes relatively more important. Senator’s Taurus is a potentially large Cu-Mo-Au deposit in relatively accessible terrain, and is in the US so that currency risk is eliminated. Delays, even temporary, in other major projects, should serve to increase attention to and accelerate early-stage but potentially significant projects like the Taurus.” 2007-10 2 Nov 07 "6,000,000 Unit Private Placement Closed" Senator Minerals Inc (“Senator” or “the Company”) reports that a non-brokered private placement of 6,000,000 units priced at $0.15 per unit for gross proceeds of $900,000 has been accepted for filing by the TSX-V and has closed. Each unit consists of one (1) common share, which has a four month and one day hold period expiring on 3 March 2008, and one non-transferable common share purchase warrant, exercisable for a period of two years and entitling the holder to purchase one (1) additional common share in the capital stock of the Company at a price of $0.24 per common share at any time up to 2 November 2009. Insiders participating include: Richard Redfern 50,000 units; and Lana Simon 150,000 units. ProGroup participants include: David Hamilton-Smith 100,000 units; and Sandy Orr 150,000 units. 2007-9 1 Oct 07 "Airborne Survey Commences on Geikie River Uranium Target" Senator Minerals Inc (“Senator” or “the Company”) reports the commencement of an airborne Tempest EM survey over the Geikie River claim in the eastern Athabasca Basin, Saskatchewan. The Geike River claim, which adjoins the South Cigar Property (IUC/JNR Resources), has potential to host unconformity-style uranium mineralization associated with conductive zones, similar to that discovered by IUC/JNR Resources at Moore Lake, which lies on trend to the southwest.
The Tempest system is a leading edge geophysical survey tool that was recently tested over the Midwest Mine where it demonstrated resolving capabilities superior to traditional time domain systems. The objective is to inspect conductive horizons to a depth of 300 meters on the Geikie River claim. Survey flight lines are to be flown in a northwes- southeast direction at 200 meter flight line intervals with some infill flying at 100 meters. Tie lines will be flown perpendicular to flight lines at 2 kilometer intervals. The total survey area will encompass approximately 562 line kilometers and is scheduled to take up to 5 weeks to complete, with interpretation of data available approximately 8 weeks thereafter. 2007-8 28 Sep 07 "6,500,000 Unit Private Placement" Senator Minerals Inc (“Senator” or “the Company”) reports that it is arranging a non-brokered private placement of up to 6,500,000 units, priced at $0.15 per unit, for gross proceeds of $975,000. Each unit will consist of one (1) common share and one non-transferable common share purchase warrant. Each warrant will be exercisable for a period of two years and will entitle the holder to purchase one (1) additional common share in the capital stock of the Company at a price of $0.24 per common share. Finders fees may be payable on a portion of the private placement in accordance with the policies of the TSX-Venture Exchange (“TSX-V”). The gross proceeds from the sale of up to 6,500,000 units will be $975,000, which is intended to be used for corporate administration and working capital, for maintenance of mineral exploration properties, for exploration work on the Company’s Taurus property, and for due diligence related to the acquisition of mineral properties. The private placement will close when final documentation is accepted for filing by the TSX-V. 2007-7 19 Jun 07 "Zones of gold-silver mineralization at Ivanhoe Creek, NV" Senator Minerals Inc ("Senator" or "the
Company") reports on preliminary results from the first five holes of its drill
program on the Ivanhoe Creek property, northeastern Nevada. This program was
conducted in partnership with Kent Exploration, which is earning an interest in
the property. Sample 79058 returned the second highest
silver value of 107 g/t (3.12 ounces per ton (opt)), and also a strongly
anomalous tungsten value of 1,500 ppm (0.15%). Samples also show elevated
selenium values. Sample 79059 is anomalous in sulfur. IC07-12 drilling was
stopped in mudstone-shale showing anomalous silver values. 2007-6 19 Jun 07 "SNR Options Uranium Target in Athabasca Basin, Saskatchewan" Senator Minerals Inc (“Senator” or “the Company”) reports that it has entered into an agreement with Geomode Mineral Exploration Ltd (“Geomode”), an arm’s-length vendor, to acquire a 100% interest, net of a 1% NSR, in a highly prospective 3,370 hectare uranium target, the Geike River Claim (the “Claim”), located in the Athabasca Basin, Saskatchewan. The Claim, designated number S-110885, is considered to be a high priority target due to its proximity to existing large high-grade uranium mines and its potential to host similar mineralization. The Claim is located in the eastern portion of the Athabasca Basin, approximately 27km southeast of Cigar Lake and 35km east of MacArthur River Mine (Cameco/Cogema), the largest high-grade uranium mine in the world. The Claim adjoins claims held by Denison Mines Corp (DML: TSX and DNN: AMEX), formerly International Uranium Corp, and CanAm Uranium (CAUI: OTCBB). Until recently, the Claim was controlled by International Uranium Corp, which, through Denison, continues to have a significant presence in the area. The Claim forms part of the Thompson River Project, which is contiguous to the Moore Lake and South Cigar Projects, controlled by Denison and JNR Resources.
To acquire a 100% interest, net of a 1% NSR, in the Geike River
Claim, Senator is required to perform exploration and development work
sufficient to keep the Claim in good standing, and to pay an aggregate of
C$300,000 and issue 1,500,000 common shares to the vendor over a two year term
as follows: First and second anniversary payments are subject to Senator having received a NI 43-101-compliant report recommending further work. In addition, a one percent (1%) NSR has been reserved in favor of the vendor, which can be purchased by Senator for US$1,000,000. This transaction remains subject to regulatory approval. Tony Simon, president of Senator, comments, “The expansion of Senator’s exploration property interests to include a uranium target surrounded by established uranium producers and explorers in the well-known Athabasca Basin is another significant step in Senator’s goal of acquiring exploration interests in politically stable, highly prospective areas.” 2007-5 19 Jun 07 "2,000,000 Unit Private Placement Closed" Senator Minerals Inc (“Senator” or “the Company”) reports that its non-brokered private placement of 2,000,000 units priced at $0.18 per unit for gross proceeds of $360,000 has been accepted for filing by the TSX-V and has closed. Each unit consists of one (1) common share, which has a four month and one day hold period expiring on 20 October 2007, and one-half (1/2) of a non-transferable common share purchase warrant. Each full warrant will be exercisable for a period of one year and will entitle the holder to purchase one (1) additional common share in the capital stock of the Company at a price of $0.24 per common share at any time up to 19 June 2008. Insiders participating include: Roger Kidlark 20,000 units; Richard Redfern 550,000 units; Jeffrey Scouten 25,000 units; and Donald (Tony) Simon 265,000 units. ProGroup participants include: Scott Hiebert 75,000 units; Edward Meisner 100,000 units; Michael Siggs 100,000 units; and Andrew Statham 50,000 units. 2007-3 5 Jun 07 "2,000,000 Unit $360,000 Private Placement Proposed" Senator Minerals Inc (“Senator” or “the Company”) reports that it is arranging a non-brokered private placement of up to 2,000,000 units, priced at $0.18 per unit, for gross proceeds of $360,000. Each unit will consist of one (1) common share and one-half (1/2) of a non-transferable common share purchase warrant. Each full warrant will be exercisable for a period of one year and will entitle the holder to purchase one (1) additional common share in the capital stock of the Company at a price of $0.24 per common share. Finders fees may be payable on a portion of the private placement in accordance with the policies of the TSX-Venture Exchange (“TSX-V”). The gross proceeds from the sale of the up to 2,000,000 units will be $360,000, which is intended to be used for corporate administration and working capital, for maintenance of mineral exploration properties, and for due diligence related to the acquisition of mineral properties. The private placement will close when final documentation is accepted for filing by the TSX-V. 2007-3 29 May 07 Additional Staking on Ivanhoe Creek property, NV Senator Minerals Inc (“Senator” or “the Company”) reports that, as operator, it has completed the staking of three placer claims over part of its Ivanhoe Creek project to cover a potential sodium bentonite deposit for the benefit of Senator / Kent. Senator is currently carrying out a $600,000 diamond drill program that has been funded by Kent Exploration Inc, which has earned 50% of Senator’s interest in the Ivanhoe Creek project. The exploration targets are Midas-style gold-silver veins at depths ranging from 100 to 250 meters. The Ivanhoe Creek property is located just north of Great Basin Gold’s Hollister development in northeastern Nevada, where underground drilling has recently expanded and upgraded the mineral resources to approximately two million ounces gold equivalent. 2007-2 4 May 07 Drilling program commences on Ivanhoe Creek property, NV Senator Minerals Inc (“Senator” or “the Company”) reports that a diamond drill program has commenced on its Ivanhoe Creek project, located just north of Great Basin Gold's Ivanhoe Hollister development in northeastern Nevada. This $600,000 drill program has been funded by Kent Exploration Inc, which has earned 50% of Senator's interest in the project. Senator is operator. The exploration targets are Midas-style gold-silver veins at depths ranging from 150 to 250 meters. 2007-1 12 Mar 07 Drilling contractor signed for Ivanhoe Creek property, NV Senator Minerals Inc (“Senator” or “the Company”) reports that, in its role as operator, it has entered into a contract to conduct a diamond drill program on Ivanhoe Creek, a Midas-style target located just north of GBG's Ivanhoe Hollister development in northeastern Nevada. This $600,000 program has been funded by Kent Exploration Inc, which has earned 50% of Senator's interest in the project. Subject to weather and access, the drill program is scheduled to begin in early April. |