Santo Domingo.- Novus Gold Corp. announced it has recently completed an exploration program
on the company's La Yagua gold property (9,900 hectares) located in the
Dominican Republic.
The work has led to the discovery of a one
kilometer long, north-south trending, gold and copper mineralized
structure outlined by gossans. Grab samples of oxidized material grade up to 13 grams gold per
ton, 41 grams silver per ton and more than 50% of the samples graded
more than 1% copper (10,000 ppm geochemical).
The mineralized zone
displays classic VMS (volcanogenic massive sulphide) characteristics:
rock alteration consists of quartz-sericite, sericite and chlorite and
is stratabound between an andesite footwall and a dacite hanging wall.
The mineralization on the La Yagua property is located on the same
stratigraphic interface as the Cerro de Maimon mine (Globestar Mining)
located 19 km away that is exploiting a VMS deposit (6Mt of 2.5% Cu,
1.2 g/t Au, 38 g/t Ag and 1.5% Zn). There is potential for 14
kilometers of this favorable interface on the Novus property.
Canadian Novus Gold also owns the La Paciencia property (8,600 hectares)
which is underlain by the same geology as the Pueblo Viejo gold deposit
located 10 kilometres to the east. The concessions are approximately
one hour northwest of the Dominican capital city of Santo
Domingo.
Written by: oupala07 
, 15 Aug 2009 1:26 PM
From: Canada
Who's gonna profit from it? Surely not the poor Dominicans, and they will still try to escape to Porto Rico.
Written by: Trujillo, 15 Aug 2009 1:59 PM
From: Dominican Republic
Did the "poor dominicans" discover this? No, ok. I believe this company pays taxes, the state is then responsible. Also, I believe people work for this company so the workers and their families do benefit from this too.
Written by: oupala07 , 15 Aug 2009 2:31 PM
From: Canada
No, the "poor dominicans" did not discover it, and why? Doesn't the Dominican republic possess its own geologists? Don't those geologists have the necessary expertise in order to help their country prospect and exploit its own mineral resources instead of giving them for peanuts to giant corporations which will, not only, suck the land dry, but will leave it havroc with contaminants and other polluting by products?
Yes, those vultures will pay taxes to your government and will employ a few hundreds people, but how much worth or mineral they will extract comparing to what they will leave in the country as taxes and salary.
Why don't those "Great Tainos" industrialists, exploit themselves those mines and sell the mineral onto the world market?
No my friend, the international Banking Cartel will suck your land dry and when you'll have nothing more to produce, they'll move along, and as usual, without cleaning the mess they'll left behind, while your people will still go hungry.
From: Dominican Republic
Oupala hit this one in the nail! We can't allow the foreigners deplete natural resources that clearly risk our future survival! The money DR derives from the extraction of these metal goes to feed bureaucratic corruption! Only a few hundred Dominican (employee) benefit from those operations. The rest of Dominican society do not!
It is better to leave those deposits undisturbed for future generations and cut down on governmental corruption!
From: Dominican Republic, vieja Santo Domingo
There are not many countries where the government does its own exploration and mining and I do not know of any gold exploration companies owned by Dominicans so the income that the DR will receive is only by royalties and taxation , which will have been determined in the contract with this company . If this country wants to retain all income from any mining or quarrying , then it must invest but I would suggest that a joint venture arrangement would be better as the expertise is likely to be greater with overseas companies
From: United States
That what they want to find anything and take it all back home, they can careless about the dominican republic
From: Canada
Novus Gold Corp. From Montréal.Québec.Canada.
From: Dominican Republic, Boycott Dominican Tourism
Has anyone ever seen the pollution in Bonao?
Written by: oupala07 , 15 Aug 2009 8:01 PM
From: Canada
"It is better to leave those deposits undisturbed for future generations and cut down on governmental corruption!"
That's not a dumb idea generoso, however, development can't wait and the type of technology, equipment and expertise needed in order to exploit efficiently gold, silver and copper mines or any kind of metal mine, is too overwhelming for the financial capability of your country. So, unmistakenly, its government must revert to foreign expertise.
But turning to the foreigners to exploit your naturel resources shouldn't be a bonanza for their corporations. They will have to abide by closely watched and monitored contracts between your governement and them. The Chinese are buying huge quantity or Australian ore at International market price. Why you Dominicans or Haitians can't do the same and sell your resources for the same international prices?
Written by: oupala07 , 15 Aug 2009 8:03 PM
From: Canada
My point is, let them come exploit the mines, hire the people, make sure they are paid good salaries, and more importantly, make sure that they clean any mess they will surely leave behind, because unmistakenly, they will leave a lot of contaminated soil and other pollutants behind. Sometimes, the cost to clean that kind of mess is much more higher than expected.
Written by: oupala07 , 15 Aug 2009 8:12 PM
From: Canada
Ricardolito,
Governments are not in the business of exploiting mines, their job is to grant claims and rights to exploit a mine. What they do is to make sure to sell those mineral at the international market value, the same way the Chinese are paying the Australian ore at market value. The largest mining corporations are not government, but privately owned.
When you hear that mineral have been discovered in your country, just put in your mind that it is either a North American, European or South African mining giant that will inherit the claim. What you, as a citizen must know, is how much the metric ton is sold for by your government and how many metric tons have been extracted during a given period of time during the year. Like that you'll have a pretty neat idea of how much money is flowing to the country economy.
From: Dominican Republic, vieja Santo Domingo
OUPALA if you read my post again I said that not many governments explore or mine and I only know of Russia and China that has state owned mines so you have misread what i said ..and actually the two largest mining companies BHP Billiton and Rio Tinto have multi national shareholdings and pay large royalties to governments around the world .Also in the contracts to mine , for at least the last 30 years are rules of rehabilitation and the companies leave a deposit with the government before commencing mining.
we do not know the royalties to be paid to the DR government by this company but the quantities are mere fraction of what is mined in Australia
Written by: anthonyC, 15 Aug 2009 11:40 PM
From: United States
To all you whining losers complaining about a foreign company mining Gold in the DR.
I have a simple solution............Start your own mining company.
There. Problem solved. now shut up.
From: Dominican Republic, vieja Santo Domingo
exactly
From: Dominican Republic
Oupala, why are pushing for complete extraction when we all know that a few will be employed (because of technology) and corruption is going to eat away everything is paid to the Dominican government? DOING MORE OF THE SAME AGAIN AND AGAIN WILL NOT CHANGE THE OUTCOME!!!!
Leave the reserves for future generations (sort of like a 401K or savings account for our children) until we get a government who is more dedicated to social investment and with minimal corruption! Let's not end like Haiti!
Chillaxin, two former mountains were completely leveled in Bonao. Similarly, Falconbrige leveled one mountain. The damage to rain capture, water drainage, wind patterns, flora and other soluble toxic chemicals is incalculable!
Written by: anthonyC, 16 Aug 2009 5:41 PM
From: United States
Grosero,
Can't afford the permit?
Too bad 4 you.
How did the other companies manage to raise the money? Oh.......They earned it.
From: Canada
@: anthonyC.
My friend,try to start your company mining
Thoses company spend more than 1 billiard before find something. .
From: United States, FEEL THE RUSH...RIDE YOUR MTB!
Dominicans for hire, don't think so........ Haitians will be doing the majority dirty work (a la very cheap) like always. Or like they always do they will bring in there on miners from overseas. They will fine a (corrupt) loop hole in our Government that will aloud them to pay very minimum wages.
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No, the "poor dominicans" did not discover it, and why? Doesn't the Dominican republic possess its own geologists? Don't those geologists have the necessary expertise in order to help their country prospect and exploit its own mineral resources instead of giving them for peanuts to giant corporations which will, not only, suck the land dry, but will leave it havroc with contaminants and other polluting by products?
Yes, those vultures will pay taxes to your government and will employ a few hundreds people, but how much worth or mineral they will extract comparing to what they will leave in the country as taxes and salary.
Why don't those "Great Tainos" industrialists, exploit themselves those mines and sell the mineral onto the world market?
No my friend, the international Banking Cartel will suck your land dry and when you'll have nothing more to produce, they'll move along, and as usual, without cleaning the mess they'll left behind, while your people will still go hungry.
It is better to leave those deposits undisturbed for future generations and cut down on governmental corruption!
That's not a dumb idea generoso, however, development can't wait and the type of technology, equipment and expertise needed in order to exploit efficiently gold, silver and copper mines or any kind of metal mine, is too overwhelming for the financial capability of your country. So, unmistakenly, its government must revert to foreign expertise.
But turning to the foreigners to exploit your naturel resources shouldn't be a bonanza for their corporations. They will have to abide by closely watched and monitored contracts between your governement and them. The Chinese are buying huge quantity or Australian ore at International market price. Why you Dominicans or Haitians can't do the same and sell your resources for the same international prices?
Governments are not in the business of exploiting mines, their job is to grant claims and rights to exploit a mine. What they do is to make sure to sell those mineral at the international market value, the same way the Chinese are paying the Australian ore at market value. The largest mining corporations are not government, but privately owned.
When you hear that mineral have been discovered in your country, just put in your mind that it is either a North American, European or South African mining giant that will inherit the claim. What you, as a citizen must know, is how much the metric ton is sold for by your government and how many metric tons have been extracted during a given period of time during the year. Like that you'll have a pretty neat idea of how much money is flowing to the country economy.
we do not know the royalties to be paid to the DR government by this company but the quantities are mere fraction of what is mined in Australia
I have a simple solution............Start your own mining company.
There. Problem solved. now shut up.
Leave the reserves for future generations (sort of like a 401K or savings account for our children) until we get a government who is more dedicated to social investment and with minimal corruption! Let's not end like Haiti!
Chillaxin, two former mountains were completely leveled in Bonao. Similarly, Falconbrige leveled one mountain. The damage to rain capture, water drainage, wind patterns, flora and other soluble toxic chemicals is incalculable!
Can't afford the permit?
Too bad 4 you.
How did the other companies manage to raise the money? Oh.......They earned it.
My friend,try to start your company mining
Thoses company spend more than 1 billiard before find something. .