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Xtierra Inc. - Senior management appointments - Zibb.com
TORONTO, Sep. 8, 2008 (Canada NewsWire via COMTEX) --
Xtierra Inc. (TSXV - XAG) ("Xtierra"), is pleased to announce the filling of two key senior management positions.
Chief Operating Officer - Gerald J. Gauthier
Mr. Gauthier is a registered Professional Engineer in Ontario and has over 37 years international experience in the mining industry building and operating open pit and underground mines in Canada, USA, Mexico, Central America and West Africa. Mr. Gauthier was previously Chief Operating Officer at Nevsun Resources Ltd. and previously Vice-President Operations at Glencairn Gold Corp. He is a graduate of Queen's University in Mining Engineering. He is currently a director of Labrador Iron Mines Holdings Limited, Conquest Resources Limited and Gold World Resources Ltd. Mr. Gauthier was formerly General Manager of the Page-Williams gold mine at Hemlo, Ontario and Senior Vice President North American Operations for Lac Minerals Ltd.
Manager of Operations (Mexico) - Luis De La Fuente
Sr. De La Fuente has 35 years experience in the mining industry with mine development and operation of open pit mines and processing facilities and has held senior administrative, planning and operations positions with Canadian, US and Mexican companies, including Compania Minera de Cananea, Minera Real de Angeles, Hecla Mining Co. and Santa Cruz Gold Inc. For the past eight years, Sr. De La Fuente has provided administrative and engineering consulting services to a number of Canadian and Mexican companies. He is a graduate engineer from the University of Guanajuato, and holds a diploma in Administration from the University of Aguascalientes. He was formerly President of the Mining Association of Mexico.
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Existing Management in Mexico includes:
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Manager Administration & Finance (Mexico) - Alejandro Alaniz
Mr. Alaniz is a Certified Public Accountant and holds a Masters degree in Business Administration from the Universidad del Valle de Atemajac, Mexico and a Diploma in Industrial Chemistry from the Universidad de Guadalajara, Mexico. He has 20 years experience in financial administration of Mexican public and private companies. Prior to 2005, Mr. Alaniz was Finance & Administrative Director of Industrias Nigua C. por A. based in the Dominican Republic. He has been responsible for the administration and financial control of the Orca group of companies (now Xtierra subsidiaries) in Mexico for the past three years.
Chief Geologist - Anthony C. Gallon
Dr. Anthony Gallon is a professional geologist with B.Sc., M.Sc. and Ph.D. degrees in various geological and geochemical disciplines from the Universities of Nottingham and Leeds. He is a Member of the Institution of Mining and Metallurgy (UK) and a Chartered Engineer. Tony has worked in the minerals industry for forty years with several companies including Roan Selection Trust, Anglo American Corporation, Robertson Research International and Oxus Gold. He has been Chief Geologist of Minera Orca S.A. de C.V. and other Mexican operating subsidiaries of Xtierra for the past three years and has overall responsibility for exploration drilling and resource and reserve development at Bilbao.
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Comment
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Commenting on the appointments, Mr. Terence N. McKillen, President & CEO said "We are pleased that Xtierra has been able to fill these senior appointments with very experienced engineers and managers whose skill sets will be complementary. Xtierra now has excellent management in place to ensure the optimum advancement of its two main development projects within the Central Mexican Silver Belt. Xtierra has commenced the initial stages of a feasibility study on the Bilbao Silver-Zinc-Lead-Copper deposit, Zacatecas which is scheduled for completion within the first quarter of 2009 as well as optimising an earlier bankable feasibility study on its Laguna silver-gold-mercury tailings retreatment project."
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About Xtierra Inc.
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Xtierra Inc. is a Toronto based exploration and development company listed on the TSX Venture Exchange. Xtierra's shares trade under the symbol "XAG". Xtierra has recently completed $8.8 million in private placement financings and has 49,862,003 shares issued and outstanding. Xtierra's objective is to become a mid-tier producer of silver and base metals through the development of its Bilbao and Laguna projects, both located in the Central Mexican Silver Belt in the State of Zacatecas, as well as through organic growth and M & A opportunities.
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Cautionary Notes:
-----------------
This press release may contain "forward-looking information" within the
meaning of applicable Canadian securities legislation.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
release.
>>
SOURCE: Xtierra Inc.
www.xtierra.ca or contact: Terence McKillen: President & Chief Executive, (416) 362-8243; Tim Gallagher: Director, (416) 925-0090; Alejandro Alaniz: Director Finance & Administration (Mexico), +52 (492) 925-0804
Tags: business canada central america ceo consulting engineering exploration finance gold industrial legislation metals mexico mining ontario president Private Placement research securities silver south carolina toronto trade university zinc
Companies: Xtierra Inc (XAG)
Castle Gold Replicates Historic Drilling at Its La Fortuna Gold-Silver-Copper Project, Mexico
TORONTO, ONTARIO, Sep 11, 2008 (Marketwire via COMTEX) --
CASTLE GOLD CORPORATION (Castle Gold, the Company) (TSX VENTURE:CSG) is pleased to announce the results from the company's recent drill program at the La Fortuna project located in Durango, Mexico. According to the Company's independent Qualified Person, the results from the 6 diamond drill holes, positioned to twin historical drill holes, correlated very well with the results from the previous exploration work completed at the site. Consequently, the validity of the historic data base has been confirmed as an adequate representation of the potential mineral resources contained within the deposit. On this basis, the Company is in the process of recalculating the historic mineral resources to National Instrument 43-101 standards. The twin hole drilling program follows recommendations made in a March 2007 Technical Report recommending such drilling to verify the historic data base. The historic database includes 121 diamond drill holes for a total length of 18,900 metres and eight levels of near horizontal underground development for a total of approximately 2,000 metres with each level separated by approximately 20 to 30 metres of vertical relief and five levels accessible by adits.
Darren Koningen, Vice President Mine Development at Castle Gold commented on the results from the recent drilling program stating: "It appears that the results from these holes which were positioned to test different areas and grades of the known mineralization, demonstrate the integrity of the historic exploration work completed at the La Fortuna project. In addition to the information obtained from the twin hole drilling program, we are advancing metallurgical testwork to evaluate methods in which the gold, silver and copper can be recovered. Having confirmed the historic data, we expect to publish an updated mineral resource conforming to NI 43-101 standards in the coming weeks. Based on this work the Company will have the ability to plan activities for the future development of this project. These would include additional drilling for resource expansion, metallurgical testwork and possibly advancing scoping studies on different scenarios for mine development."
A number of attractive intersections were replicated from this 2008 twin hole drill program. These include:
- Drill Hole LF28-08 which intersected 21.2 metres grading 5.59 grams per tonne gold;
- Drill Hole LF30-08 which intersected 42.3 metres grading 3.76 grams per tonne gold; and
- Drill Hole LF61-08 which intersected 31.2 metres grading 5.52 grams per tonne gold.
The results from the diamond drill hole twinning campaign correlate very well with the historical drilling results. Within the 6 recent twin holes, 180.6 meters of ore intercepts were identified versus a corresponding 181.8m of intercepts from the historical holes (variation of 0.7%). When the average gold grades are compared the twin holes averaged 3.58 g/t compared to 3.29 g/t in the original holes. This represents an increase of 8.8%. Given the abundance of visible gold in the mineralization observed at La Fortuna, these variations represent a very good correlation. Refer to Table 1: Comparison of Results - Historic and Twin Hole Drilling 2008 - La Fortuna Project, Durango, Mexico and Figure 1. Drill Hole Location Map - La Fortuna Project, Durango, Mexico, presented below.
It should be noted that within some intercepts there were large variances in both metres and/or gold grade. Most of the large variances in the intercept lengths were within relatively short intervals of mineralisation with the larger length intervals being much closer on a percentage basis. Most of the larger grade variations can be attributed to the nugget effect nature of the gold mineralization.
Table 1
Comparison of Results - Historic and Twin Hole Drilling 2008 -
La Fortuna Project, Durango, Mexico
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Twin Holes Original Holes Variance
twin vs
original
Inter- Inter- Inter-
Interval val Gold Interval val Gold val Gold
From To Length Grade From Grade Length Grade Length Grade
---- -- ------ ----- ---- ----- ------ ----- ------ -----
(m) (m) (m) (g/t) (m) (m) (m) (g/t) (m) (g/t)
LF28-08 43.8 65.0 21.2 5.59 44.5 65.0 20.5 5.31 3.2% 5.0%
LF29-08 28.0 34.0 6.0 2.83 30.3 32.1 1.7 3.45 244.8% -17.9%
and 38.0 76.0 38.0 2.19 38.1 75.3 37.2 3.19 2.2% -31.2%
LF30-08 30.5 72.8 42.3 3.76 33.6 75.7 42.2 2.58 0.3% 45.9%
LF40-08 43.1 46.0 2.9 3.85 42.2 46.2 4.0 0.76 -27.5% 408.6%
and 58.9 60.4 1.5 2.44 62.2 66.2 4.0 4.21 -62.5% -42.1%
and 86.0 100.0 14.0 3.43 86.5 102.5 16.0 3.02 -12.5% 13.4%
LF56-08 64.0 72.0 8.0 1.73 63.3 68.5 5.2 0.91 53.8% 89.5%
and 100.0 103.4 3.4 0.95 100.5 104.5 4.0 9.47 -13.7% -90.0%
and 110.0 118.0 8.0 1.67 108.5 116.5 8.0 1.81 0.0% -7.8%
LF61-08 14.0 16.0 2.0 0.49 15.4 17.4 2.0 0.60 0.0% -17.8%
and 32.0 34.0 2.0 1.35 33.4 35.4 2.0 0.36 0.0% 270.9%
and 70.8 102.0 31.2 5.52 68.2 103.2 35.0 3.68 -10.7% 49.9%
-------------- ---------------------------
-------------- ---------------------------
Total -
Average 180.6 3.58 181.8 3.29 -0.7% 8.8%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Qualified Person Comments/Quality Control Procedures
This press release has been reviewed by Mr. Toren K. Olson, P. Geo an independent consulting geologist and Mr. Darren Koningen, P. Eng., Castle Gold's Vice President Project Development. Both Mssrs. Olson and Koningen are Qualified Persons under National Instrument 43-101. The design of the above described drilling program was supervised by Mr. Olson and the conclusions of the results from this exploration program are those of Mr. Olson.
Where analysed for gold, silver and copper, among other elements, drill core from this program was sawed in half with half of the core sent for preparation to ALS-Chemex in Hermosillo, Mexico and analysis conducted by ALS-Chemex Laboratories in Vancouver, Canada using gold fire assays with either Atomic Absorption Spectroscopy ("AAS") or gravimetric finish. Routine gold assays are by 30 gram fire assays and the repeat analyses have been carried out on pulps stored from the initial analyses.
About Castle Gold
Castle Gold Corporation is a growth oriented gold producer with projects focused in the America's. The Company owns a 100% interest in the El Castillo gold mine in Mexico and a 50% interest in the El Sastre gold mine in Guatemala. Castle Gold is also advancing exploration and development work at its La Fortuna gold-silver-copper project in Mexico and at its El Sastre and El Arenal project in Guatemala.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/csg0911.pdf
TSX-V Trading Symbol: CSG Total Shares Outstanding: 75.3MM Fully Diluted: 88.1MM 52-Week Trading Range: C$0.38 - $0.90
SOURCE: Castle Gold Corporation
Castle Gold Corporation Thomas Atkins President and CEO (416) 214-4809 or Toll Free: 1-866-646-3274 (416) 366-7421 (FAX) Castle Gold Corporation Rory Quinn Manager Investor and Public Relations (416) 214-4809 or Toll Free: 1-866-646-3274 (416) 366-7421 (FAX) Email: info@castlegoldcorp.com Website: www.castlegoldcorp.com
Tags: canada consulting copper diamond expansion exploration fire gold guatemala mexico president silver standards vancouver
Companies: Capstone Gold Corp (CSG), Castle Gold Corp (CSGLF)
IGNIA Fund I Invests US$2 Million in Innovative Affordable Housing Development in Mexico - Zibb.com
MONTERREY, Mexico, Sept 10, 2008 /PRNewswire via COMTEX/ --
IGNIA Fund I, LP announced today that, through its wholly-owned subsidiary IGNIA Bienes Raices S. de R.L. de C.V., it has entered into its first real estate transaction, an investment of US$2 million in the second stage of Jardines del Grijalva, a housing project in Chiapas, Mexico, enabling the expansion of the development to include affordable housing. As a result, Jardines del Grijalva will offer over 800 additional homes for families earning less than US$8,888 a year (or approximately US$2,222 per person).
With its investment, IGNIA is addressing the persistent funding gap faced by small and medium-sized construction companies as they seek to tackle the enormous housing deficit in Mexico. Jardines del Grijalva is being developed by Premezclados Industriales, S.A. de C.V. ("Casas Premin"). "Critical to the success of affordable housing developments in Mexico is deep knowledge of local markets, strong relationships with municipalities, and expertise and cost-effectiveness in the execution of the construction," said Alvaro Rodriguez Arregui, co-founder and managing partner of IGNIA. "We found all of these elements in Casas Premin and we are delighted to be their partner."
The new houses offered by Casas Premin are a response to the severe lack of affordable, quality houses in Mexico, where the current housing backlog is estimated at 14.3 million homes. 70% of the Mexican population earn less than US $3,500 per person per year and are in the base of the socioeconomic pyramid ("BoP"). For the portion of families at the BoP that are formally employed and have access to credit, the Jardines de Grijalva expansion will provide a sorely needed supply of affordable homes with basic infrastructure (including water, electricity, sewage and roads). For those in the informal economy without access to credit, an estimated 69% of the Mexican workforce, the new development offers groundbreaking mortgage financing by developing a partnership with a new type of lender. This creative multi-party solution breaks the barriers that deny half the population of Mexico access to a decent home.
"Through investing in innovative affordable housing solutions, IGNIA is helping to provide the BoP with access to a decent home, access to basic services such as water, electricity, and sewage systems, and most importantly, the opportunity to build a family's net worth," said Michael Chu, co-founder and Managing Director of IGNIA.
Jardines del Grijalva is IGNIA's second investment, and its first in affordable housing.
IGNIA Fund I, LP is a social venture capital fund that invests in high growth businesses in Mexico and other regions of Latin America. By providing effective responses to the enormously underserved needs of the low income population, both as consumers as well as active participants in productive value chains, IGNIA empowers entrepreneurship and generates social impact while creating attractive financial returns for its investors. IGNIA invests approximately $2 - $10 million per company over the life of the investment.
Casas Premin is a medium-sized construction company headquartered in Oaxaca that has built and sold more than 3,000 houses for different economic sectors mostly in Oaxaca and some in Queretaro and Quintana Roo. In addition to its expertise in building houses, Casas Premin has vast experience in the execution of general urbanization of developments, road paving, construction and remodeling of water treatment plants and other structures.
SOURCE IGNIA Fund I
http://www.ignia.com.mx
Tags: construction deficit economy electricity expansion family housing investment local mexico mortgage partnership population sewage venture capital water
ProSep awarded $1.1 million contract with Mexico's state-owned oil company - Zibb.com
MONTREAL, Sep. 10, 2008 (Canada NewsWire via COMTEX) --
PEMEX to use ProSep's proprietary desalting technology
ProSep Inc. (TSX: PRP), dedicated to providing process solutions to the oil and gas industry, announced today that it has signed a contract valued at $1.1 million (US) with PEMEX, Mexico's oil and gas company and the eleventh largest integrated national oil company in the world. ProSep will provide its proprietary ProSalt Mixer System that facilitates the separation of water and crude oil while ensuring the removal of corrosive salt content from process equipment.
"By now offering a blend of proprietary and traditional separation technologies, ProSep is better positioned to address the production requirements of new and existing customers," said Jacques L. Drouin, President and CEO of ProSep Inc. "This product-focused strategy is helping us to gain market share and reduce sales volatility."
ProSep expects to deploy its ProSalt Mixer System at PEMEX's facilities in Dos Bocas, Mexico by December 2008. The ProSalt Mixer System delivers significant benefits to upstream oil and gas companies. In addition to increased treatment capacity, ProSep's technology reduces wash water requirements as well as limiting oil in water content.
With this contract award, ProSep's sales backlog currently totals $35 million (CDN).
About ProSep Inc.
ProSep Inc., formerly known as TORR Canada Inc., is dedicated to providing process solutions to the oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit www.prosepinc.com.
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Caution concerning forward-looking statements
---------------------------------------------
>>
This press release contains forward-looking statements. Such statements inherently involve numerous risks and uncertainties. Actual future results may differ from the anticipated results expressed in the forward-looking statements contained in this press release and ProSep does not undertake to update this information. Investors are cautioned against placing undue importance on forward-looking information contained herein and should consult the final short form prospectus and the documents incorporated by reference therein, which contain a more exhaustive analysis of risks and uncertainties connected to ProSep's business.
%SEDAR: 00009317EF
SOURCE: ProSep Inc.
ProSep Inc., Jacques L. Drouin, President & CEO, (514) 522-5550 ext. 226, jdrouin@prosepinc.com; The Equicom Group Inc., Joe Racanelli, (416) 815-0700 ext. 243, jracanelli@equicomgroup.com
Tags: business canada ceo contract crude oil gasoline manufacturer market share mexico oil oil and gas president sales technology water
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Beach Towels - Filmography, Year, Role - Variety Profiles
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News from Zibb.com
- Xtierra Inc. - Senior management appointments - Zibb.com
- Castle Gold Replicates Historic Drilling at Its La Fortuna Gold-Silver-Copper Project, Mexico
- IGNIA Fund I Invests US$2 Million in Innovative Affordable Housing Development in Mexico - Zibb.com
- ProSep awarded $1.1 million contract with Mexico's state-owned oil company - Zibb.com
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