I mentioned previously that ACA Howe did the NI 43-101 and that management didn't like the results so they hired McBride to produce another one. Investors were told a different story on April 10, 2012, (see below).
On July 30, 2012 we were told, (among other things) that there were a number of parties who expressed an interest in Nuevo Milenio, (see below). We have heard nothing.
Additionally, on July 30, 2012 we were told, “The Board of Directors has initiated a review of Cream’s strategic alternatives intended to maximize shareholder value." See below. We have heard nothing.
It will be interesting to see what is revealed at the AGM on December 13.
PART I
February 21, 2012 Sedar Filing
“Vancouver, British Columbia, February 21, 2012. The Smartstox Online TV Talk Show is alerting subscribers and other resource stock investors to the new developments at Smartstox-profiled Cream Minerals Ltd. (CMA.V), and the availability of a recent interview with company management available at
www.smartstox.com/interviews/cma
Cream Minerals Ltd. (CMA.V) is anticipating the arrival of an updated NI43-101 resource estimate for their Nuevo Milenio silver-gold project in Mexico, but the new discoveries are helping to keep the management patient.
The company announced last week that exploration drilling had intercepted three previously unknown quartz zones; assay highlights include 2.00 m of 58.30 g/t silver and 0.476 g/t gold. Company geologists think they may have found a displaced fault block of the Dos Hornos structure which contributes a sizeable portion of the holding’s defied mineralization.
Previously released drill results from the Once Bocas South zone, another block not included in the upcoming resource calculation, included intersections of 20.00 metres of 75.3 g/t silver and 0.325 g/t gold.
Michael O'Connor, President and CEO of Cream Minerals, gave us much more information on Nuevo Milenio in our Smartstox interview available at” www.smartstox.com/interviews/cma.
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February 27, 2012 Sedar Filing
“Cream expects to release an updated NI 43-101 Resource Estimate prepared by ACA Howe in calendar Q1 2012 based on the 2011 Drill Program.”
(Note: Fiscal Year Ends March 30, 2012)
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February 27, 2012 Sedar Filing
Cream Minerals Ltd. Management’s Discussion & Analysis Three and Nine months ended December 31, 2011
“Cream has engaged ACA Howe International Limited to prepare a revised NI 43-101 Compliant Resource Estimate. The revised resource estimate will include the most recent 20,292 metres of drilling. It is expected the revised resource estimate will be released in Q4 2012, ( Q4 - January 1, 2012 to March 31, 2012).
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April 10, 2012 Sedar Filing
Vancouver, BC – April 10, 2012 - Cream Minerals Ltd. (TSX-V - CMA) (‘Cream’ or the ‘Company’) provides an update on the timing of the Nuevo Milenio Mineral Resource Estimate underway.
“The independent mineral resource estimate for Nuevo Milenio continues to be advanced.
Challenges encountered in providing data to the consultant in a timely manner have impacted progress on the mineral resource estimate. Given the large amount of data involved including over 32,000 metres of drilling, a significant volume of surface samples, trench samples, underground channel samples as well as properly identified location coordinates for all but the drilling data combined with reviews and fact checks were significantly more time consuming than anticipated. The Company anticipates the release of the mineral resource by May month end 2012.”
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July 30, 2012 Sedar Filing
“Following completion of a drill program comprising 20,292 metres of in-fill and exploration drilling at the Company's Nuevo Milenio project during 2011, the Company engaged an independent consulting firm to prepare an updated independent NI 43-101-compliant resource estimate. Incorporating all historical exploration data as well as the 2011 data. Dr. Derek McBride prepared the 2012 mineral resource estimate for Nuevo Milenio and has supervised the preparation of information of a scientific or technical nature in this news release.”
“The Board of Directors has initiated a review of Cream’s strategic alternatives intended to maximize shareholder value. A Special Committee of independent directors (“the Special Committee”) has been appointed. The Company has signed Confidentiality Agreements with a number of parties who have expressed an interest in Nuevo MilenioTo that end Nuevo Milenio property information has been compiled for review by interested parties.”
“An independent mineral resource estimate for the Nuevo Milenio project as at July 30, 2012 was prepared by Derek McBride P. Eng. which incorporates the results of the Company's 2011 drill program on the project (the ‘2012 Resource Estimate’).
The 2012 Independent Mineral Resource Estimate replaces in entirety the 2008 Inferred Mineral Resource Estimate previously disclosed by the Company and the Company advises that the 2008 Inferred Mineral Resource Estimate can no longer be relied upon.”
There is a PART II, (it involves information given in past news releases) I'll share it with you tomorrow, (if I have time to put it together).