The Iron Range Resources Board gives so much to us here on the North Shore, like a really nice grant for Birch Grove to fix their septic system. But with the other hand they gave exactly 10 times that amount to privately owned and filthy rich Lutsen Mountain so they can build sidewalks, gutters, etc. for free. IRRB also just published a glowing newsletter about the many new mining projects they expect will bring great prosperity to us poor folks in northeastern Minnesota. One of these projects is also expected to bring death of all life surrounding it, i.e., the proposed Polymet copper mine just a skip and a jump away from us up here on the Shore.
Our mining correspondent Lori Andersen sent this batch of very interesting stories about mining, copper, a similar project in Michigan and other questions the environmental folks are asking. Settle in for a good winter night's read here:
MI DNR delays decision/ Ely forum highlights threats from climate change/ Murphy Oil expansion/ GROWING FUEL
http://www.mlive.com/newsflash/michigan/index.ssf?/base/business-14/1200012851270700.xml&storylist=michigannews
DNR delays decision on permits for Upper Peninsula mine
1/10/2008, 7:49 p.m. ET
By JOHN FLESHER
The Associated Press
TRAVERSE CITY, Mich. (AP) — A proposed nickel and copper mine in Michigan's Upper Peninsula hit at least a temporary snag Thursday when the state Department of Natural Resources postponed a ruling on the company's plan.
Director Rebecca Humphries was scheduled to announce whether the DNR would let Kennecott Minerals Co. build and operate the mine in northwestern Marquette County. Instead, she requested more information, a process that could take months. She set no deadline.
The Department of Environmental Quality, the agency that regulates mining in Michigan, granted permits for the project in December. But Kennecott wants to lease 120 acres of state land for its aboveground operations, which requires DNR approval.
DNR staffers have endorsed the mine. Humphries was not signaling the project was in jeopardy by delaying a decision, spokeswoman Mary Dettloff said.
But with opponents having filed a lawsuit and administrative challenges to the DEQ's approval, Humphries wants to be sure the DNR's eventual decision will "stand up to any scrutiny," Dettloff said.
"It's a yellow light, not a red light," said Lynne Boyd, chief of the Forest, Minerals and Fire Management Division.
Opponents were hopeful that further review would defeat the mine.
"Director Humphries is one of the first people willing to look at this objectively and not just rubber-stamp it," said Michelle Halley, attorney for the National Wildlife Federation. "She is asking good questions and I don't think the company is able to provide satisfactory answers."
Jon Cherry, project manager for Kennecott, said the DEQ already considered many of the same issues raised by the DNR and was satisfied with the company's responses.
"We want to make sure the DNR has all the information it needs and we want the process to be transparent and thorough," Cherry said.
The mine would be located in a remote area called the Yellow Dog Plains, renowned for its backwoods trails and trout streams. Foes say the mine could pollute groundwater and the nearby Salmon Trout River with sulfuric acid. Kennecott says it would protect the environment while boosting the regional economy and creating jobs.
The company is targeting an underground ore deposit expected to yield up to 300 million pounds of nickel and about 200 million pounds of copper, plus smaller amounts of other metals.
It would be Michigan's first nickel mine, and the only U.S. mine where nickel is the primary mineral generated instead of a byproduct.
Humphries told the state Natural Resources Commission on Thursday she wanted Kennecott to further explain why it needs to lease state land for its surface facilities when the company owns adjacent property.
Cherry said Kennecott had considered another location that it owns, but the preferred site is farther from the river and provides additional environmental protection.
Marvin Roberson, a Sierra Club spokesman, said the state should demand additional evidence to back up that claim.
The DNR also wants more information about the mine's effect on a bedrock outcrop with spiritual significance for the Keweenaw Bay Indian Community, Humphries said.
The mine would tunnel underneath the outcrop. It would be fenced off for safety reasons but tribal members would be granted access, Cherry said.
___
On the Net:
_Michigan Department of Natural Resources: http://www.michigan.gov/dnr
_Kennecott Minerals Co.: http://www.kennecottminerals.com
http://www.duluthnewstribune.com/articles/index.cfm?id=57908§ion=Opinion
Iron Range view: In imaginary boardroom, mining execs cook up propaganda to feed Iron Rangers
Joseph Legueri, Duluth News Tribune
Published Friday, January 11, 2008
This lifelong Iron Ranger is no friend of the mining companies. Members of my family have labored in the mines for the better part of 100 years; some of them died there.
My grandfather told me stories about Cousin Jacks, Pinkertons, company houses, the company store and one atrocity after another committed by the uncaring mining companies at the expense of the men whose labors made the companies rich. When he was 85, my father’s pension and supplementary health insurance were taken away by the mining company. The look on his face when he received the news is etched deeply in my mind.
Yes, things have changed in 100 years. However, human nature doesn’t change. The nature of greed doesn’t change. Based on what has happened to us at the hands of the mining companies and based on what they taught me about greed, I have formed an opinion about what might have happened at a board meeting that might have taken place in Toronto, Ontario, recently when the fictitious MollyMetalMining made its decision to mine copper/nickel on Minnesota’s Iron Range:
John Foster Dulls, president and CEO of MollyMetalMining, sits at the head of a huge, deeply polished oak meeting-room table. His six-member management team is just entering the room.
Fossy, as he’s known to his team, takes charge. “Gentlemen,” he says, “I’ve been reading a report that was just completed by the Minnesota DNR. The report says that there are more than 4 billion tons of non-ferrous [non-iron bearing] copper and nickel ore near Aurora, Babbitt and Ely.
“I’ve also just looked at a study that I asked our corporate planners to complete. The price for copper right now is $3.50 a pound; nickel is $12.06 a pound. Our people think that we can mine copper for $1.50 a pound and nickel for $6.50 a pound. I’d like to hear what you gentlemen have to say about this.”
Hubert Mumphrey, MMM’s best metallurgical engineer and the only former Minnesotan in the Canadian company, speaks up right away. “I don’t know, Fossy. Wisconsin has all but outlawed the mining of copper and nickel because it’s encased in sulfide rock that emits sulfuric acid when it’s exposed to air and water.”
“That’s no problem,” counters John Dubois, the company’s chief mining engineer. “You know that we can dig up that sulfide rock and stockpile it on an impermeable membrane. Then when we’re done extracting the minerals, we can dump the sulfide back into the mine pit and cover it up. Then it can’t get air. No air — no sulfuric acid.”
“That sounds like a good plan,” Mumphrey says, “but you know it didn’t work at Kennecott’s Flambeau Copper/Nickel Mine in Ladysmith, Wisconsin. The Flambeau mine closed in 1997, and years later that mine is still leeching out Yellow Boy [sulfuric acid]. They don’t know if or when it will ever stop.”
“So what you’re saying,” Fossy says, “is that there’s no 100 percent safe way to mine copper and nickel without creating sulfuric acid contamination of the surrounding air and water?”
“That’s right,” Mumphrey answers. “There’s no known 100 percent safe way to mine the stuff.”
“The hell with it,” harrumphs Fossy. “Aurora and Babbitt are a long way from Toronto. What do we care if there’s a little sulfuric acid contamination? Get a truck full of cheap respirators and another truck full of Sam’s Club bottled water and park them in the Hoyt Lakes arena parking lot in case anything happens.”
“But how are we going to get our permits and convince those Rangers how nice we are?” asks Michael St.-John-Smith, MMM’s personnel director.
“I’ve got that all figured out,” Fossy says. “We’ll form a group of corporations and individuals, headed by a Ranger, to propagandize the locals with sayings like ‘the bad old, good old days of mining are gone’ and ‘we are the front guard, or the right guard, not the rear guard.’
“Rangers are stupid; they’ll believe anything we say for the chance to employ 800 people in what, most likely, will be short-term jobs. They let the old mining companies rape their land. They swallowed those lies about 100 more years of mining and passed the taconite amendment. They let the old mining companies give them mesothelioma and take away their pensions and health insurance, and then they believed the companies went bankrupt.”
“What if the price of copper drops to less than $2.25 a pound and nickel goes under $7.80 a pound and it’s not profitable to mine them anymore?” asks St.-John-Smith.
“That price drop can happen at any time,” Fossy replies. “The market fluctuates. The minute that happens, we’ll close the Minnesota mines. We’ll immediately declare bankruptcy. I have our people working on that plan as we speak. They’re camouflaging our assets. We’ll do the same if the sulfuric acid gets out of control. Our best thinkers have told me that copper and nickel will stay at or better than their present price for at least five years. After that, who cares? We’ll take our money and get out, eh?”
Mumphrey rises again to speak. “What about Teck Cominco?” he asks. “Didn’t they just invest $265 million in a copper-mining project and then pull out before it even started? Aren’t they part of the Minnesota group you’re forming to propagandize the Rangers?”
“I’ve heard enough out of you, Mumphrey,” Fossy growls. “We’re going ahead with the project. Just to satisfy the legalities, let’s do a show-of-hands vote.”
Five hands go up in favor and one opposed.
“Good,” Fossy says. “We’ll be mining by late 2008 or early 2009 … guaranteed.”
A round of applause erupts for Fossy.
“And Mumphrey,” Fossy turns to say, “will you stop in my office after the meeting for a moment, please?”
The other board members exchange knowing glances as they leave the room.
Joseph Legueri of Gilbert is a writer and a lifelong resident of the Iron Range.
Mum’s the word on high-level meetings at Minntac Mine
Lee Bloomquist Duluth News Tribune
Published Friday, January 11, 2008
Several top-level U.S. Steel executives made a rare visit to Minntac Mine in Mountain Iron this week to discuss company strategies with Iron Range legislators.
Such visits usually signal a major company decision. Iron Range legislators said U.S. Steel asked them to keep the subject of the meeting confidential.
State Sen. Tom Bakk, DFL-Cook, characterized Wednesday’s meeting as positive, saying that U.S. Steel’s strategies could lead to a significant boost for the Iron Range.
U.S. Steel officials have also contacted steelworker leaders about company strategies.
U.S. Steel owns and operates two Iron Range taconite plants, Minntac Mine and KeeTac in Keewatin.
KeeTac produces about 5.4 million tons of iron ore pellets annually. However, it has one production line that has been mothballed for years. Minntac can produce about 14.6 million tons of iron ore pellets annually.
Scott Coleman, Minnesota Ore Operations general manager, said Thursday he could not comment on the nature of the discussion.
Iron ore pellets are in high demand globally as rapidly developing countries such as China and India build infrastructure. An 800,000-ton per year expansion at Northshore Mining Co. in Silver Bay is due to become operational near the end of the first quarter.
http://timberjay.com/current.php?article=4015
Well over 200 people packed the Vermilion Community College Fine Arts Theater in Ely, last Friday, to learn more about the threats posed from climate change. Photo by Scott Stowell
Thursday, January 10, 2001908
Volume 19, Issue 2
Ely forum highlights threats from climate change
By Marshall Helmberger
A diverse array of government, union, and business leaders described global climate change as both threat and opportunity to a standing room only crowd at the Vermilion Community College theater in Ely last Friday.
The forum, sponsored by the Will Steger Foundation, was the second of several to be held across the state to help raise public awareness of the local effects of climate change resulting from the burning of fossil fuels.
Friday's event, held in Steger's hometown, was the latest sign of the growing partnership between polar explorer Will Steger and Gov. Tim Pawlenty, who has become increasingly outspoken and active on the issue of climate change. Steger, who has witnessed first hand the dramatic changes now taking place in the polar regions, has spent the past several years focused on raising public awareness of the threat from climate change. Steger will be returning to the Far North in May, when he plans to visit Ellesmere Island to again draw attention to the issue. Pawlenty has said he may join Steger for part of that trip, although the governor said Friday that a final decision will depend on scheduling details and the demands of the upcoming legislative session.
Steger, who pointed to the large crowd in attendance at the Ely forum, called global warming “an enemy at our doorstep,” but said the public is starting to get the message. “Ely has sometimes been divided on political issues,” added Steger, “but it seems we’re united on the threats posed from global warming.”
Gov. Tim Pawlenty, who was in attendance at the forum along with U.S. Sen. Amy Klobuchar, acknowledged that some in his own party remain skeptical of global warming. But Pawlenty said he finds the science persuasive and sees the reasons for action compelling. “Let’s say it’s a hoax, as some claim. The worst thing we’re going to do is clean up the world and improve things for our children and grandchildren. But what if we’re right?”
Klobuchar said recent climactic events have pushed global warming out from the pages of scientific journals and into the public consciousness like never before. She cited recent record low water levels on Lake Superior, retreating glaciers, and the increasing frequency of droughts, fires, and extreme storms as evidence the public is beginning to recognize. “This is really happening in people’s lives,” she said.
And the effects aren’t just environmental, according to Steelworkers Union District 11’s David Foster, who was representing the Blue-Green Alliance at the forum. “This is also the most important economic issue of our generation,” he said. According to Foster, the recent loss of 5,000 jobs in Washington state’s aluminum industry was a direct effect of climate change, because drought and warmer temperatures combined to lower water levels in the rivers that once produced an abundance of low-cost hydroelectric power. The reduced power generation forced higher costs on the aluminum producers, making the once-vibrant industry uncompetitive with foreign producers.
Such changes could affect Minnesota’s wood products industry as well, warned Lee Frelich, a forest ecologist with the University of Minnesota. He said many climate models suggest a warmer and possibly drier climate will eliminate forests across much of northern Minnesota. “Minnesota could end up without much forest at all,” he said.
While critics of prompt action on climate change have raised fears of economic losses, Foster warned the U.S. is already missing out on the early stages of an energy revolution that is taking place worldwide. He cited a recent study, which estimated the U.S. has lost 1.2 million new jobs, mostly in alternative energy fields, that would have been created had the U.S. agreed to adopt the Kyoto Treaty. He said the switch to clean energy has the potential to bring real economic benefits. “We have 1,000 union workers in Minnesota right now working on wind installations,” he said. “And in Iowa, 2,500 new manufacturing jobs in the wind industry have been created in the past four years.”
Improved energy efficiency can also help existing businesses, noted Tom Collins, who spoke at the forum on behalf of the Sappi mill in Cloquet. He said the company has recently made changes in its processes that have cut its power costs substantially, yielding millions of dollars in operational savings. He warned that isolated plants that produce energy through the burning of biomass may be a popular idea, but haven’t proven to be very efficient. Instead, Collins said energy efficiency can typically bring a better return for mill operators than turning to new power sources.
Pawlenty agreed. “The cheapest and cleanest energy is the energy we don’t need,” he said.
Politicians finally catching up?
While public concern has increased, political progress on the issue has been in short supply— until recently. Both Pawlenty and Klobuchar cited several political gains on climate change, including a recent state provision that would require cuts in greenhouse gas emissions of 80 percent by 2050. Forum moderator J. Drake Hamilton, a representative of the Twin Cities-based group Fresh Energy noted that Pawlenty had also led the effort to form a Midwestern state compact to enact emission reductions across several Midwestern states and the province of Manitoba. That agreement was signed earlier this year.
Klobuchar said the U.S. Senate, for the first time, recently passed an emissions reductions bill from a key committee and she urged those at the forum to contact senators and members of the House to support passage on the floors of both bodies.
Klobuchar noted that progress on the issue has long come in fits and starts. “We’ve had too much red-light, green-light,” she said, referring to the on-again, off-again incentives for alternative forms of energy, such as solar. While the recently-passed federal energy bill did improve gas mileage requirements for most motor vehicles, she said she was disappointed that tax credits for the installation of solar panels were allowed to phase out at the end of the year.
Steve Piragis, of Ely, said the U.S. leadership has suffered at the top when it comes to global warming, but he pointed to things people can do at home, such as changing incandescent light bulbs to compact flourescents, to help reduce their energy consumption.
Steger noted that residents could ask city leaders in Ely to reconsider passage of the Mayor’s Climate Protection Agreement, a provision the city rejected last spring. That agreement, which has been signed by hundreds of cities across the U.S. requires cities to meet emission targets set out by the Kyoto Treaty.
All on the panel agreed that there isn’t one single solution to the problem of climate change. Steger said it will likely take changes in Americans’ lifestyles. Pawlenty said it will take a lot of things, including some technological breakthroughs, such as carbon sequestration and a new generation of solar panels.
“There is no silver bullet,” agreed Klobuchar, crafting the appropriate analogy. “It’s going to take silver buckshot.”
http://www.timberjay.com:80/current.php?article=4016
Thursday, January 10, 2001908 Volume 19, Issue 2
Protesters cite mining concerns
By Marshall Helmberger
While global warming may have been the topic of the day in Ely last Friday, several protesters took advantage of the forum to voice their concerns to Gov. Tim Pawlenty about the potential impact of copper-nickel mining in the region.
Several companies are in various stages of mine development along the Duluth Complex, which runs northeast from Hoyt Lakes to just south of Ely, and some of the protestors worry the impacts will be significant.
Bob Tammen, of Soudan, said the proposed mining operations will have an impact on the planet’s temperature. He said processing of the low-grade ore found in the Duluth Complex will require large amounts of energy. “And the PolyMet project alone will destroy hundreds of acres of wetlands, which are an effective carbon sink,” he said.
While the proposed ore processing operations won’t include a smelter, Tammen said the newly-developed Platsol® hydrometallurgical process that PolyMet plans to utilize involves “a witches brew of exotic chemicals.” Tammen said history has shown that some of those chemicals will eventually make it into ground and surface water. “Murphy’s Law has not been repealed,” he said.
The governor didn’t try to avoid the protesters, in fact, he stopped to talk with them briefly before heading indoors for Friday’s forum. “I told the governor that we’re really concerned about the fast-tracking of the permitting process for PolyMet,” said Tammen. “Copper just has such a bad record anywhere they’ve done it before, we just want to make sure they’ve looked at all the ramifications.”
Pawlenty, who commented on the protest during a press conference following the forum, said he’s confident that the benefits of the mining operations can be achieved, while keeping environmental impacts to a minimum. “We don’t have to sacrifice the environment to grow the economy,” he said.
http://www.businessnorth.com/exclusives.asp?RID=2265
BusinessNorth Exclusives
Murphy Oil expansion: What comes next?
1/10/2008
by Beth Erickson
Superior has been buzzing since Murphy Oil executives confirmed in 2007 the Arkansas-based oil company has initiated talks with an environmental design and permitting consultant to help plan a major expansion at its Superior Refinery.
The impact for the region would be huge.
The $6 billion plus expansion, which would raise the refinery’s capacity from about 35,000 barrels to 235,000 barrels per day, promises 400 additional direct jobs, 1,200 secondary jobs and an extra $25 million in property tax revenue.
David Podratz, Murphy Oil’s Superior Refinery manager, cautions it is premature to talk about financing sources. “Funding is not a concern right now,” he said. “Until we have a partner and information on the environmental aspects of this, it just doesn’t make sense to worry about funding. But we’re confident if these areas work out, the funding will happen.”
Murphy Oil is pursuing several potential partners.
Recent partnership announcements — among them British Petroleum/Husky Energy and ConocoPhillips/Qatar Petroleum — show there is industry interest.
Murphy Oil itself is a joint venture participant in Syncrude Canada, the world’s largest oil sands producer. A joint venture partnership with one or more of its Syncrude Canada partners, or another tar sands leaseholder, is one potential financing option.
Another option would be to follow the model taken by Minnesota Steel, LLC. In June 2007 it sold its assets to Essar Global Ltd., which has promised to provide additional financing for the proposed $1.65 billion mine-to-steel mill planned this year near Nashwauk.
The potential for Murphy Oil to raise the capital for the refinery expansion by putting itself on the sale block has caught the attention of several national investor companies that assess the company as an “attractive acquisition candidate.”
Seeking Alpha, one of the leading providers of stock market opinion and analysis, describes Murphy Oil as a small company “with many worldwide strategic locations” and a “prime takeover target” by a larger oil and gas company, based in the United States or China.
If Murphy Oil secures funding for expansion, land adjacent to the Superior Refinery is available. Since 2001, Murphy Oil has purchased 150 acres north and east of its refinery from Douglas County, private landowners and Koch Industries.
The next indicator whether the project can move forward is the company’s environmental impact review that will be completed in first or second quarter of 2008.
An ownership partnership to raise financing could come at any time.
Updated at: 01/10/2008 05:28:01 PM
By: Renee Passal
http://www.wdio.com:80/article/stories/S309403.shtml?cat=10359
DNR Underground Mine Mapping Project Almost Complete
Three geologists have been working for almost two years, to find and document all of the old underground mines and shafts in the central Iron Range. The Central Iron Range Sanitary Sewer District contracted with the DNR, to get this project done. The group needs the information about the old mines to plan their new sewer routes.
The geologists have found 73 underground mines, and 356 mine shafts, spanning from Hibbing through Kinney. Many are centuries old, from the undergound mining era.The geologists expect to find more in the next six months.
The team searches for old, original maps, from mining companies, private archives, and Ironworld. Then that information is digitized into the computer, and a 3-D map is created. Minntac and Hibtac closely with the team, because they do plan on doing more mining in the area. And surrounding communities like Chisholm will benefit, because when they want to expand, they'll have the information about where is safe and stable to do so. The project is expected to be finished by June 30th. And the team hopes to have the maps online someday, so the public can see where the mines used to be.
Prime Meridian Presentation
http://www.primemeridianres.com/s/Home.asp
http://www.primemeridianres.com/i/pdf/Presentation.pdf
June 25, 2007
Powerpoint Presentation (more...)
http://www.marketwire.com:80/mw/release.do?id=808785
Prime Meridian Resources Corp.
Jan 09, 2008 10:00 ET
Prime Meridian Resources Corp.: Copper Mineralization Intersected at Wilson Creek IOCG Project
Winter Drilling of Nickel-Copper Targets Underway in Mid January
CALGARY, ALBERTA--(Marketwire - Jan. 9, 2008) - Prime Meridian Resources Corp (TSX VENTURE:PMR) (FRANKFURT:DYD) ("Prime Meridian") is pleased to provide an update on its activities.
- Drilling has intersected copper mineralization at the Wilson Creek Iron Oxide-Copper-Gold ("IOCG") project;
- drilling will commence in mid January on the TAG and JAKE magmatic nickel-copper targets in the Upper Peninsula of Michigan;
- drilling will commence in February on the Winterfire nickel-copper project in Minnesota.
Prime Meridian initiated the drilling of its portfolio of properties in the Spring of 2007 and plans to continue this drill program during 2008, the current focus being areas which are best accessed during the winter drilling season. The Company is continuing its business model of systematically drill testing a series of projects it has acquired and advanced since 2000, each project having the potential to provide a significant mineral discovery.
Wilson Creek IOCG Project, Michigan
Prime Meridian has completed 4 drill holes on separate targets in the Wilson Creek Project Area, 3 of them being within the Main Grid Area ("MGA"). The MGA covers an area of approximately two miles by three miles. Assay results have been received for 3 of these holes. Copper mineralization, alteration, mineral assemblages and structural features characteristic of IOCG deposits were intersected in all three drill holes within the MGA.
The most encouraging assay results were received from the second drillhole within the MGA, DDH WC-2, which tested a coincident magnetic and electromagnetic response in close proximity to anomalous surface samples.
Interval (ft) Thickness (ft) Cu (%)
------------- -------------- ------
586-592 6 1.25
888-896 8 0.98
This hole was drilled at a 45 degree angle and intercepted bedding and structure at nearly 90 degrees, thus giving approximate true thicknesses. Contained within the intervals above are thin, 2" to 8" thickness of veined, massive chalcopyrite with trace amounts of gold, tungsten, and bismuth and abundant magnetite, hematite fluorite, epidote, K-spar, tourmaline, albite and chlorite alteration, all of which are typically associated with IOCG deposits. Additionally, copper mineralization occurs disseminated at various intervals throughout the hole. The best value is from 603 to 611 feet, 8 feet of 0.045% or 447 ppm copper. Anomalous geochemical values were also received for numerous Light Rare Earth Elements.
The vein-related mineralization present in this hole has been developed within structural zones that have served as conduits to allow the mineralizing fluids to ascend from a source at depth, laterally, or both. These structures are critical to the development of large-tonnage copper deposits when hydrothermal fluids are introduced into favorable environments, which Prime Meridian's previous work has identified to be present at Wilson Creek.
WC-1, testing a magnetic anomaly beneath very large, angular, subcropping mineralized boulders, had several intervals with geochemically anomalous results for copper, gold, tungsten and bismuth, all of which are associated with strongly altered rocks. The best copper values are from 627 to 635 feet, 8 feet of 0.05% or 495ppm copper.
WC-3 was collared to test an electromagnetic anomaly discovered from the airborne surveys and confirmed with ground follow-up geophysical surveys. This hole was not completed to the targeted depth because of the hunting season but will be deepened when the drill testing of the remaining targets at Wilson Creek resumes later in 2008. To date, trace amounts of copper mineralization have been observed in the core from WC-3, however, the targeted geophysical anomaly had not been reached when drilling was halted in November for the hunting season and for drill maintenance.
The other hole, DDH S9-1, located outside of the MGA, did not intercept any significant results.
Within the MGA it is very important to note that Prime Meridian's geological reconnaissance samples from outcrop and subcrop contained anomalous copper-gold-tungsten-flourine mineralization and associated hydrothermal alteration, as seen in the drilling. Values from very large, angular subcropping boulders were 2.69% copper, 0.01 oz/ton gold, 0.41 oz/ton silver, 0.13% tungsten, 0.3% fluorine and 0.02% molybdenum. These analyses are from rock samples of hydrothermal veins in mafic volcanics, the same style of mineralization intersected in DDH WC-2. Additionally, values of 1.03% copper were assayed from rock samples exhibiting a disseminated style of mineralization within the host mafic volcanics, a rock type which represents a favourable environment to form a large tonnage deposit.
In addition to the drilling, ground-based induced polarization, magnetic and electromagnetic surveys were completed in November, 2007. These surveys developed a minimum of four new high priority exploration targets that will be drill tested within the MGA area. These are new geophysical targets relating to the possible existence of a large tonnage copper occurrence and are independent of the nine targets previously defined within the MGA on the basis of Prime Meridian's previous work.
Prime Meridian is encouraged that the IOCG model has been further confirmed as a strong and large system hosting copper mineralization. The drilling and geophysical results combined with Prime Meridian's earlier work have advanced the understanding of the Wilson Creek IOCG project.
Prime Meridian will use the winter drill season to test other projects requiring winter access. The Company plans to continue drilling at Wilson Creek after the spring break up period.
TAG Nickel-Copper Drilling, Michigan
Prime Meridian will use the winter drill season to test targets which are, in several cases, accessible only at this time of year. It will begin its 2008 drill campaign in mid January by drill testing the TAG anomaly.
Prime Meridian acquired lands on its Mid-Stage projects in Michigan earlier this year, based upon interpretations of available government data sets and results from Fugro's Geotem and Geotech's VTEM airborne systems. The TAG target, an anomaly defined in the Geotem surveys as a strong, elliptical magnetic high with coincident EM and a 5 milligal ground gravity peak, is one of the acquired projects and Prime Meridian believes it is a compelling magmatic nickel-copper target. In November, 2007, an induced polarization ("I.P.") survey was conducted over the peak of the coincident magnetic, EM and gravity anomalies. The I.P. data shows a strong chargeability high and resistivity low coincident with magnetic, EM and gravity responses. Prime Meridian believes these anomalies may represent a buried mafic intrusive (peridotite) contained within sulfidic slates of the Michigamme Formation, thus presenting itself as a nickel-copper-PGM target.
JAKE Nickel-Copper Target, Baraga Basin, Michigan
Following the completion of drilling at TAG and to take advantage of winter access, Prime Meridian plans to drill test its JAKE nickel-copper-PGM project located in the Baraga Basin of Michigan. This project is located approximately 12 miles from Rio Tinto's recently permitted Eagle nickel-copper-PGM deposit. Outcrops of this gabbro intrusive were discovered by Prime Meridian in 2000. This dike and sill complex intrudes into the sulfidic slates of the Michigamme Formation along a major Midcontinent Rift structure. Subsequent ground geophysical surveys conducted by Prime Meridian defined this intrusive as a strong magnetic high with EM conductors.
Minimally, three additional nickel-copper targets in the Baraga Basin are planned for testing after the winter drilling at Winterfire (described below). All of these are high priority, coincident, magnetic, EM and gravity targets and two of these are within 3 miles of the Eagle Deposit.
Winterfire, Minnesota
Prime Meridian has received the interpretations and selected drill targets from the flying of GEOTECH's VTEM magnetic / electromagnetic system over the Winterfire nickel-copper project area. During the 1970s a series of drill holes intersected nickel-copper-PGM-gold mineralization over a 400m strike length at Winterfire. Prime Meridian has acquired all lands containing this discovery as well as additional lands covering newly developed targets from these surveys.
Prime Meridian will mobilize the drill rig to Winterfire during February to take advantage of winter access.
Other News
Prime Meridian is also pleased to announce that it will be attending the Prospectors and Developers Convention in Toronto as an exhibitor during March, 2008. We will be located at Booth # 2205 in the Investors Exchange Hall and extend an invitation to visit to anyone interested in our programs.
Prime Meridian Resources Corp. is a Canadian exploration company focused on projects it has developed since 2000 within the Midcontinent Rift System in Michigan and Minnesota. This rift system consists of deep-seated structures and act as conduits permitting the intrusion of mantle-derived magmas (mafic and felsic) and permit the development of magmatic nickel-copper and IOCG mineralization. Prime Meridian is continuing its drilling and the exploration of projects it has developed with the goal of achieving a discovery in an area that has historically produced large and valuable base and precious metal mines.
Prime Meridian Resources Corp.
Michael J. Senn, President and CEO
Prime Meridian Resources Corp. is a Canadian exploration company focused on the Midcontinent Rift system in Michigan and Minnesota.
Michael Senn, P.Geol, President of Prime Meridian and a "qualified person" as defined by National Instrument 43-101, prepared the information in this release. Detailed information on the projects described above can be accessed in NI43-101 reports available at www.sedar.com.
Certain disclosures in this release, including management's assessment of Prime Meridian's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Prime Meridian's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Prime Meridian 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Prime Meridian Resources Corp.
John Boreta
(403) 539-0192
Email: info@primemeridianres.com
Website: www.primemeridianres.com
http://www.minnpost.com/stories/2008/01/10/514/beyond_corn_ethanol_minnesotas_rural_economy_positioned_for_enormous_gains
MinnPost.Com GROWING FUEL: Four articles
PART 1: Minnesota's corn ethanol industry blends subsidies, politics and lobbying
The corn ethanol industry has taken off in Minnesota, benefiting many rural areas. How did this happen? Subsidies fueled by politics and lobbying.
PART 2: Despite the hype, experts question corn ethanol's environmentally friendly image
Politicians and special interests aggressively push corn ethanol as an environmentally friendly solution to the nation's energy problems, but scientists and agriculture experts aren't so sure.
Part 3: Ethanol reduces need for imported oil, but its energy savings are costly
The federal government pays 51 cents of the cost of every gallon of ethanol you buy, prompting this question: Is ethanol worth it?
Part 4: Beyond corn ethanol: Minnesota's rural economy positioned for enormous gains
Production of corn ethanol is rapidly expanding, but plans are underway for a "next generation" renewable fuel —and Minnesota's rural areas could reap huge benefits.
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Making fuel: How corn becomes ethanol
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