Profhit Posted August 18, 2010 Report Share Posted August 18, 2010 http://www.foundationres.com firstname.lastname@example.org Foundation Resources is an interesting new gold developer in Ontario Canada. With under 20 million shares and most held by flow through fund Mineral Field, and 1/3 by management, this stock trades very well. The project Coldstream is 70% optioned by FDN, 30% held by Alto. March 2010 - the first current drill program revealed a very high grade interval of the gold deposit. The stock subsequently ran up from $0.15 to $0.92, trading millions of shares a day. March 29, 2010 Foundation Intersects 27.3 metres of 4.88g/tonne gold at Coldstream Vancouver B.C. March 29, 2010: Foundation Resources Inc. (FDN: TSX-V) is pleased to announce the results from the first two holes of the recently completed 2010 winter drilling program on the East Coldstream Deposit (the "Deposit") located on its Coldstream Property in Ontario. Foundation has an option to earn up to a 70% interest in the Coldstream property from Alto Ventures Ltd. Key points Summary: 13.55 g/t gold over 3.0m intersected within a 27.28 m wide zone averaging 4.88 g/t gold Multiple higher-grade sections: 11.80 g/t gold over 1.20m, within a 47.25 m wide zone averaging 1.30 g/t gold Results still pending from remaining seven completed drill holes he Coldstream Gold Property: Past producing Cu-Ag-Au mine A historical gold resource of 234,000oz (non 43-101 compliant) with strong potential for expansion Potential extension of a 1.5 million ounce inferred resource onto the Property Large land package, mining friendly region, existing infrastructure, easy access The Coldstream Gold Property contains the past producing North Coldstream Mine and the East Coldstream Deposit. The 1.5 million ounce, 51 million tonne Moss Lake Gold Deposit abuts the southwest boundary of the Property, and this mineralization extends onto the southern portion of the Coldstream Gold Property. The North Coldstream Mine produced 103 million pounds of copper, 440,000 oz of silver, and 22,000 oz of gold while operated by Noranda between 1960 and 1967. In 1990 Noranda calculated a 5.1 million tonne resource of 234,000 oz at the East Coldstream Deposit. This historical estimate was completed prior to NI43-101 standards, therefore it should not be relied upon. Recent work has demonstrated significant potential to expand the East Coldstream Deposit along strike and to depth as infill and confirmation drilling bring it toward 43-101 compliance. More drilling underway - would be a great time to pick up some shares! June 10, 2010 Foundation Resources Commences 8,000 Metre Phase 2 Diamond Drilling Program at Coldstream Vancouver B.C. June 10, 2010: Foundation Resources Inc. ( (FDN: TSX-V) is pleased to announce the commencement of a minimum 8,000 metre phase 2 diamond drilling program on its Coldstream Property in Ontario. The main objective of the current diamond drilling program is to further define and expand the East Coldstream deposit. Drilling is also planned in the Span Lake area to confirm gold-bearing zones drilled by Inco in the 1980s, and test the potential continuity of the adjacent Moss Lake gold deposit (NI 43-101 compliant inferred resource of 1.5 million ounces contained gold) on to the southern-most claims in the Span Lake area of the property. Foundation has contracted Coast Mountain Geological Ltd of Vancouver B.C. to manage the project. About the Coldstream Property: The East Coldstream Deposit, which occurs within the 5,394 hectare Coldstream Property, is located along the Trans Canada Highway 115 km west of the City of Thunder Bay, Ontario. The area is road accessible and has excellent infrastructure with a major power line and CN rail line passing just north of the property. Skilled labour is readily available locally. Mineralization at the East Coldstream Deposit is hosted in intensely sheared, silicified and iron-carbonate altered mafic to felsic metavolcanics and porphyries in a zone extending northeast over a 1.5 km strike length. Foundation has an option to earn up to a 70% interest in the Coldstream property from Alto Ventures Ltd. For more details regarding the Coldstream Property, please visit our website at www.foundationres.com Ike Osmani, P. Geo., is the Qualified Person for Foundation who has reviewed and approved this news release. About Foundation Resources Inc.: Foundation is a mineral exploration company focused on exploration and development of high potential gold properties in Canada and Mexico. Its Coldstream Property is located in the Western Superior geological province of the Canadian Shield, which is noted for hosting prolific gold deposits in Ontario, Canada. The San Rafael property is located approximately 150km northwest of Durango in the Durango State, Mexico. On behalf of the board, Paul Chung President 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." News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. For further information contact: Rain Communications Nelson Da Silva Tel: 604-648-0523 (direct) Ralph Biggar Tel: 604-306-2525 (direct) Link to comment Share on other sites More sharing options...
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