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GLM.c $GOLXF Golden Lake (GLM.C) price explodes after tagging bonanza grade gold and silver at Jewel Ridge Project in mining-friendly Nevada https://equity.guru/2021/02/24/golden-l ... ly-nevada/
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ILI.v $ARXRF Infinite Ore Announces Drill Program on Eastern Vision Project and Completes Land Transaction at Jackpot Lithium Project
by @accesswire on 17 Feb 2021, 03:31
VANCOUVER, BC / ACCESSWIRE / February 17, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce it has completed the acquisition of four additional lithium claims in Ontario having a historic resource of 750,000 tons yielding 1.38% Li2O* which is in addition to the historical resource of 2 million tons at 1.09% Li2O* currently present on the Jackpot property (see press release announcing acquisition January 18, 2021). The new claims are contiguous to, and located within, the Company's Jackpot Property. In addition, the Company is pleased to announce that it is planning a 2,500 meter drill program on the Confederation North property within its Eastern Vision Project claim holdings located east of Red Lake Ontario. The program will test gold, copper, and silver anomalies from its recent Spaciotemporal Geochemical Hydrocarbon ("SGH") survey conducted on the Confederation North property (see Figure 1). The drill program is expected to begin in early March.
J.C. St-Amour, President of Infinite Ore commented, "The shareholders of Infinite Ore are in a somewhat unique position with exposure to two exceptional land packages in Ontario targeting gold, base metals and lithium. I am very pleased to have secured a drill and crew to begin drilling the Red Lake Eastern Vision properties. Using our soil samples as well as geophysics, our technical team has identified multiple high priority targets. Access to the property and logistics are very good and so I anticipate getting good value for our drilling dollars. I am also pleased to report that we closed our transaction to acquire more land near our Jackpot Lithium property. The Jackpot property is in a highly sought-after location given that our neighbour, Rock Tech Lithium, intends to construct a lithium processing facility in the area. More to come from us on both the Eastern Vision gold and base metals property and the Jackpot lithium project."
Figure 1: Map of SGH anomalies and planned drill holes of the Confederation North property, Eastern Vision Project.
The Company is earning into the Eastern Vision Project which consists of the Fredart, Garnet Lake, Confederation North, and Confederation South properties. Past exploration has focused on VMS targets within the Confederation Lake assemblage near Red Lake, Ontario. The Garnet Lake properties hold 43-101-compliant inferred mineral resources of 2.1 million tonnes grading 5.78% Zn, 0.72% Cu, 19.5 g/t Ag, and 0.6 g/t Au. The Fredart property contains an historical resource of 386,200 tonnes grading 1.56% Cu and 33.6 g/t Ag*.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company as not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
For Further Information, Please Contact:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
Forward Looking Statements
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com.)
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/630127/Infinite-Ore-Announces-Drill-Program-on-Eastern-Vision-Project-and-Completes-Land-Transaction-at-Jackpot-Lithium-Project
ili.v - "We are pleased to be able to provide our shareholders an exposure to lithium, gold and base metals exploration through our Jackpot and Eastern Vision properties."
BARU.v $BARUF Baru Gold Corp Appoints Mining Executive John J. Ellis
by @thenewswire on 10 Feb 2021, 13:02
(TheNewswire)
Vancouver, BC – TheNewswire - February 10, 2021 - Baru Gold Corp (“Baru Gold” or “The Company”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce the appointment of Mr. John J. Ellis to the Company’s the Board of Directors.
Mr. Ellis is a mining executive and engineer with significant experience in operations, open pit, start up management and capital markets over the last 50 years.
From 1980’s he was Senior Vice President for Inspiration Mining Corp North American which produced over 3 million tonnes of coal per year in US and served as Vice Chairman of Hudson Bay Mining & Smelting. Group, looking after operations. By 1989 to 1994 Mr. Ellis would become Managing Director for Wester Gold Exploration & Mining (Inspiration Mining) and looked after all of the groups’ open pit, underground operations, mills, for gold/zinc/copper through to sales.
In the late 90’s he was tasked to become Chairman and CEO of Anglo Gold North America, setting up Anglo’s gold mining ventures in Americas responsible for gold exploration, acquisition, and operation of projects in US, Canada, and Mexico. He has also provided guidance to Inco in Indonesia early 2000’s for a large nickel laterarte mine producing 160 million pounds of Nickel annually.
He is currently serving as a member of the Board of Directors for Hycroft Mining Corp (formerly Allied Nevada Gold) and Jaguar Mining Inc, two mid size gold producers in Americas. Previously, he has served as a director for International Tower Hills Mines, Queenstake Resources, Cashman Equipment, and also Sunshine Silver Mines. He’s been a consultant for several large scale multi-national mining groups including CRVD-Inco, BHP Biliton, AngloGold Ashanti and Anglo American.
Mr. Ellis is a Professional Mining Engineer licensed British Columbia.
President & CEO of Baru Gold, Mr. Terry Filbert comments, “John brings to Baru Gold decades of operational and capital market guidance. Having access to his leadership and understanding in mining engineering from the grounds up through to sales, expansion financing and beyond will be instrumental in Sangihe’s success. As former CEO of Anglo Gold and local knowledge in Indonesia, we expect him to elevate Baru Gold’s operational excellence and perception in the capital markets as we advance towards production in 2021”.
The Company also announces that it has granted an aggregate amount of 500,000 stock options to Mr Ellis in accordance with the provisions of the Company's stock option plan. The grant of the options is subject to the approval of the TSX Venture Exchange. Each option entitles the holder to purchase one common share of the company at an exercise price of $0.12 for a five-year period.
Mr. Alan McMillan is stepping down from the Board at this time due to other commitments. Alan has been a director of the Company since March 2017 and has supported the Company and management while the Company transitioned to it’s current phase of the Company’s life cycle. The Board of Directors wish to express their thanks to Mr. McMillan for his service to the Company.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither 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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
ILI.v $ARXRF Infinite Ore Adds to Historical Resources on Jackpot Lithium Project
by @accesswire on 27 Jan 2021, 03:00
VANCOUVER, BC / ACCESSWIRE / January 27, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce the acquisition of four additional lithium claims in Ontario having a historic resource of 750,000 tons yielding 1.38% Li2O*. This is in addition to the historical resource of 2 million tons at 1.09% Li2O* currently present on the Jackpot property. The new claims are contiguous to, and located within, the Company's Jackpot Property (see Figure 1). The claims contain the Newkirk-Vegan lithium showing that was discovered through exploration in the 1950's. Drilling at the time traced the Newkirk dike for 609 meters with an average thickness of 5 m.
Figure 1: Location of acquired claims shown in yellow.
J.C. St-Amour, President of Infinite Ore commented, "This property acquisition adds to our existing historical resources of 2,000,000 tons grading 1.09% Li2O*. We are pleased to be able to provide our shareholders an exposure to lithium, gold and base metals exploration through our Jackpot and Eastern Vision properties."
The Company's 100% owned Jackpot Lithium project is located in close proximity to the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced its intent to develop a lithium sulphate production facility located in Thunder Bay, Ontario.
Infinite Ore acquired the claims through payments to an arms-length party of $10,000 cash and 300,000 common shares. The vendor retains a royalty of 1.0% on revenue generated from non-smelter elements from the Jackpot Claims and a 1.0% NSR. This may be purchased at any time for $500,000.00.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company as not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/626146/Infinite-Ore-Adds-to-Historical-Resources-on-Jackpot-Lithium-Project
ILI.v $ARXRF Infinite Ore Expands Jackpot Lithium Project and Closes Acquisition of Claims in Eastern Vision Property Package in Red Lake
by @accesswire on 18 Jan 2021, 03:01
VANCOUVER, BC / ACCESSWIRE / January 18, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that it has added to its Jackpot Lithium project holdings through the acquisition of a 100% interest in 9 claims. The claims are contiguous to and located within the Company's Jackpot Property (see Figure 1). The Company's 100% owned Jackpot Lithium project is located in close proximity to the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced its intent to develop a lithium sulphate production facility located in Thunder Bay, Ontario.
Figure 1: Location of acquired claims shown in pink.
J.C. St-Amour, President of Infinite Ore commented, "This property acquisition enhances our land position in a burgeoning lithium camp. We are pleased to be able to provide our shareholders with exposure to lithium, gold and base metals exploration through our Jackpot and Eastern Vision properties."
The acquired claims are known to contain lithium showings based on historical work, including the M.N.W. dyke*. The claims contain lithium showings based on historical work including a pegmatite dyke that ranges in thickness up to 14 m and has been traced intermittently for 427 m. The core of the dyke was sampled in 1956 and was found to average 1.5% Li2O over a 122 m strike having widths up to 9 m.
Infinite Ore acquired the claims through payments to an arms-length party of $10,000 cash and 300,000 common shares. The vendor retains a royalty of 1.0% on revenue generated from non-smelter elements from the Jackpot Claims and a 1.0% NSR. This may be purchased at any time for $500,000.00.
Closing of Eastern Vision Claim Acquisition
The Company is also pleased to announce that, further to its press release of January 6, 2021, the company has closed the acquisition of 100% in 7 minerals claims located within its Eastern Vision project. Infinite Ore acquired the claims through payments to an arms-length party of $7,500 cash and 100,000 common shares. The vendor retains a 1.5% Net Smelter Royalty which can be bought back for $1.5 million at any time.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
*Reference: Pye, E.G. (1965) Geology and Lithium Deposits of Georgia Lake Area, p. 84.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/624620/Infinite-Ore-Expands-Jackpot-Lithium-Project-and-Closes-Acquisition-of-Claims-in-Eastern-Vision-Property-Package-in-Red-Lake
A Guru ClientCo Resource Roundup – Delta (DLTA.V), Nomad (NSR.T), Freeman (FMAN.C), Defense (DEFN.V), Fremont (FRE.V), and BARU.V https://equity.guru/2021/01/14/a-guru-clientco-resource-roundup-delta-dlta-v-nomad-nsr-t-freeman-fman-c-defense-defn-v-fremont-fre-v-and-baru-v/
BARU.v $BARUF Baru Gold Corp Updates Land Acquisition at Sangihe Gold Project
(TheNewswire)
by @thenewswire on 13 Jan 2021, 06:30
January 13, 2021 – TheNewswire - Baru Gold Corp (“Baru” or the “Company”) (TSXV:BARU) | (OTC:BARUF) is pleased to update stakeholders on the progress made by Martin Jati Lawyers on the land acquisition process previously announced August 22, 2020.
The land acquisition survey has allowed the Baru team to identify the area of interest around the Sangihe gold project based on recommendations and analysis from Baru COO Garry Kielenstyn and Chief Geologist Frank Rocca in Indonesia.
The land acquisition team of Martin Jati will now commence with the land acquisition of the Phase One Mining Area with the aim of finalizing the results from the survey in Q1 2021 and to pay for the land packages so construction can commence in the next month.
Baru Gold’s CEO Terry Filbert comments, “I am incredibly pleased with the progress that the Baru Gold team made as they continue to push forward in the acquisition of the mining pit, waste dump, access roads, and heap leach pad operations area for our Phase One mining land package. Administratively, this has not been easy with the second wave of COVID-19 sweeping through Indonesia. I commend the team for their focus and dedication and thank all parties who worked with our team for being diligent on our filings and for being creative in facilitating virtual meetings during the current pandemic situation in Indonesia.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is building Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top 10 gold producer countries in the world. In Q3 2019, Baru Gold reached a milestone, securing the AMDAL environmental permit and paid dead-rent tax on its Sangihe Gold open pit heap leach operation and awaits its Operation Licence to advance the project to construction and production in 2021.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
Frank Rocca, BAppSc. (Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither 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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
SKYG.v $SRKZF CANADA BULL.com Issues SKYG.v :BUY signal @0.18c
https://www.canadabulls.com/SignalPage. ... ker=SKYG.V
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BARU.v $BARUF Baru Gold Appoints Mine Manager/KTT (Mine Technical Manager)
by @thenewswire on 16 Dec 2020, 10:55
(TheNewswire)
December 16, 2020 – TheNewswire - Baru Gold Corporation (TSXV:BARU) (OTC:BARUF) is pleased to announce the recent appointment of Mr Fatchil Amal as Mine Manager/Kepala Teknik Tambang (Mine Technical Manager).
For more than 28 years Mr. Amal has had senior technical and management roles in coal, gold and copper mining, and mine infrastructure construction operations throughout Indonesia. He has projects including Indo Muro Kencana, Batutua Tembaga Raya, Nusa Halmahera Mineral, and Nuansa Cipta Coal Investment. His role as Mine Manager at the Wetar copper leaching project whose island location and remoteness is very similar to the Sangihe Project.
Mr. Amal appointment as the Kepala Teknik Tambang (KTT/Mine Technical Manager) has also been approved by the Ministry of Energy and Mineral Resources (MoEMR) for the Sangihe gold project. This is a statutory position required by all mine operations whether in the exploration or production stage. The duties of the KTT are to ensure compliance with all legislation related to safety, health, environmental impact, and conservation of mineral resources. The KTT is also responsible for regular reporting of activities and operations to the MoEMR. Mr. Amal has previously been KTT on a number of other mining projects.
Baru Gold CEO, Mr Terry Filbert, commented, “We welcome Mr. Amal to our team and congratulate him on being approved as our KTT for the Sangihe project. His experience in both mining and infrastructure construction in remote locations will ensure our project is delivered as efficiently and safely as possible. This is another step the Company has taken to position itself to be able to immediately start construction once the production licence upgrade is received.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held through PT. Tambang Mas Sangihe (TMS). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is building Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, a top 10 gold producer countries in the world. In Q3 2019, Baru Gold has completed milestone AMDAL environmental permit and paid dead-rent tax on its Sangihe Gold open pit heap leach operation and is awaiting Operation License to advance the project to construction and production in 2021.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With over $5.5 million in cash and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
Frank Rocca, BAppSc. (Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither 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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2020 TheNewswire - All rights reserved.
SKYG .v $SRKZF Hole #6 they liked what they were seeing so much they went an additional 100M deeper than they originally planned...eventually ending at 296M , from all appearances after speaking to the co the geos believe they are onto something, if you understand these low-sulphidation epithermal deposit types(explained in the co's investor presentation on their website) they believe they are probing down the feeder zone hmmm
cheers,
hsb
Baru Gold Corp Starts Heap Leach Equipment & Staff Sourcing, Begins Land Acquisition & Updates Production Licence
V.BARU | 45 minutes ago
(TheNewswire)
TheNewswire - December 7, 2020 - Baru Gold Corp (“Baru Gold” or “The Company”) (TSXV: BARU) (OTC:BARUF) is pleased to announce it has commenced the sourcing of heap leach operational equipment, and the hiring of mining contractors. We are also happy to provide an update on the operational licence.
Baru Gold’s CEO, Terry Filbert, comments, “Baru Gold continues to move ahead toward commencement of production and cash flow from gold production on the Sangihe project in the first half of 2021. We have begun procuring equipment and additional land, and we expect the Operation Licence to be signed off as soon as the Indonesian Mining Department (EDSM) re-opens after its shutdown due to COVID-19. The health and safety of our staff is our top priority and I would like to thank our team for following the health and safety protocols to keep COVID-19 under control within the Company despite the recent second wave of the pandemic sweeping through Jakarta.”
EQUIPMENTS & CONTRACTORS FOR MINING
With the Environmental Permit application (AMDAL) approval in October, and the subsequent payment of the outstanding financial obligations paid in Q4 2020, Baru Gold has ramped up operational activities by procuring the supplies necessary for the 100,000 tonne heap leach pad outlined in the Company’s business plan. The construction of the heap leach operation has begun and it is not contingent on receipt of the operational permit, which is expected once the Mining Department re-opens.
As the operation is just starting up, initial cash capital expenditure outlay will be minimized through the leasing of excavators, dump trucks, and dozers from local contractors, and the sourcing of other small equipment and supplies from local vendors.
ADDITIONAL LAND ACQUISITION
Based on data compiled by the Company’s engineering team, the Company has completed its survey of the areas required for mining operations. We will soon be completing the land acquisition with the government and the local land users for the additional land needed for the project. These additional hectares at Sangihe will provide Baru Gold with space for an operational base, warehouses, accommodations, and production facilities required for proper operations. Per our August 22, 2020 news release, Martin Jati Lawyers has been retained and is working on our behalf on the land survey and acquisition service for the mining area located within the PT. Tambang Mas Sangihe’s Contract of Work.
OPERATION LICENCE
After the Environmental Permit application (AMDAL) and approval in October 2020, and the subsequent November 2020 payment of the outstanding financial obligations, Baru Gold is now only waiting for the Indonesian Mining Department to issue the licence. As a reminder, Baru’s Contract of Work (CoW) provides the Company with a full permit from an exploration and feasibility licence to a full 30-year production licence.
As of December 2020, the Company has prepared and submitted all necessary documentation for the official sign off on this permit. However, the Company has been advised that due to increased COVID-19 infection rates in the main Indonesian cities, the Mining Minister’s office in Jakarta, which is authorized to issue the license, has been temporarily shut down in favour of remote working to limit the potential spread of the disease. All staff are relying on virtual meetings to conduct normal business activities and this has understandably slowed the process.
The Company expects this last administrative review and approval to be completed shortly, and is, within the proper authorities, concurrently advancing on operational fronts, including the hiring of personnel, and the preparation of the production site.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held through PT. Tambang Mas Sangihe (TMS). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is building Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, a top 10 gold producer countries in the world. In Q3 2019, Baru Gold has completed milestone AMDAL environmental permit and paid dead-rent tax on its Sangihe Gold open pit heap leach operation and is awaiting Operation License to advance the project to construction and production in 2021.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With over $5.5 million in cash and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
Frank Rocca, BAppSc. (Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1- 206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither 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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2020 TheNewswire - All rights reserved.
TheNewsWire
December 7, 2020 - 6:12 AM PST
Tags:
INDUSTRIAL METALS & MINERALS
SKYG.v $SRKZF Sky Gold Commences Drill Program Contiguous to Both New Found Gold and Labrador Gold Projects in Newfoundland
by @accesswire on 18 Nov 2020, 05:03
VANCOUVER, BC / ACCESSWIRE / November 18, 2020 / Sky Gold Corp. (TSX-V:SKYG) (OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce the commencement of diamond drilling on the Company's Mustang Property contiguous to the Queensway Gold Project, owned by New Found Gold Corp. ("New Found Gold") and the Virginia Property contiguous to both Labrador Gold Corp. (TSX-V: LAB) as well as New Found Gold. Cabo Drilling (Pacific) Corp. has been contracted to complete a minimum 3,000-metre diamond drill program over multiple target locations on both the Mustang property and the Virginia property, which are situated within the highly prospective Gander gold district.
The initial two holes are directed at deeper depth than previously tested at the southern portion of Mustang zone. Two historic holes intersected low grade gold mineralization at very shallow vertical depths, (10 meter vertical depth, 0.48 grams per tonne gold (g/t Au) over core interval of 13.8 meters, hole GO-98-05, and 25 meter vertical depth, 0.42 g/t Au over 8.0 meters, GO-98-06)*. The style of mineralization in nearby rehabilitated trenches and these historic holes appears consistent with a low sulphidation epithermal model, comprising hydrobrecciation and vuggy quartz veining and stockworks. Current drilling will explore for multiple, parallel zones and will test the vertical profile of the epithermal systems at depths of 75-90 meters vertically, and 120-130 meters vertically.
Subsequent drilling will investigate the 3-kilometer strike length of the Mustang zones, followed by drilling on the Barite, Jasperoid and Road Breccia showings on the western portion of the Mustang property. Ongoing trenching and soil geochemistry is also in progress on the remainder of the property.
Company President and CEO Mike England commented "We are very excited to commence drilling on our 2 prospective gold projects in this hot area of activity in Newfoundland."
All of the Company's field activities are conducted under Federal and Provincial COVID-19 operating protocols and safety measures as required. Planet X Exploration Services Ltd.'s field crews, retained through Grassroots Prospecting, a local, Newfoundland-based prospect generation company, are undertaking all field and drill activities on the Company's Newfoundland properties.
SKY GOLD'S NEWFOUNDLAND PROJECTS
Virginia Property
The Virginia property comprises 100 hectares and is approximately 5.7 kilometres northeast of New Found Gold's drill hole NFGC-19-01 which intersected 92.86 g/t Au over 19 metres (see Mexican Gold Corp. press release dated Jan. 26, 2020). Historic results completed in the early 1990s by Manor Resources Ltd., and documented in assessment file NFLD_2244, which reports two areas of mineralization (Zone A-2). One showing comprised quartz veining developed over a 35-metre-wide zone within sheared gabbro and graphitic shale (main shear) returning up to 8.7 g/t Au, and a second showing comprised a sheared gabbro returned a grab sample up to 109.6 g/t Au*. The Company is focused on confirming and extending these known mineral showings.
Mustang Property
The recently expanded Mustang property comprises 1,625 hectares and is contiguous to New Found Gold's Queensway project and approximately five kilometres southwest of their discovery hole. The Mustang property hosts numerous gold prospects including the Mustang and Piper zones, on trend with New Found Gold Corp's current drill program, and the Road Breccia, Jasperoid, and Barite showings on the western portion of the property.
Gold mineralization was discovered at the Mustang zone in 1987 by Noranda Exploration Company Ltd., who completed geologic mapping, trenching and shallow (average 84 metres) diamond drilling (12 holes totaling 1,007.6 metres). Altius Resources Inc. ("Altius") completed diamond drilling over the Mustang zone in 1998 (10 holes, 1,197.6 meters). In late 2001 Altius held the current claim area, with the Mustang zone anchoring a major northeast-southwest structural feature of prospective geology covered by a larger property project known as the Mustang trend. Altius optioned the property to Barrick Gold Corp. who undertook reconnaissance exploration in 2002, resulting in the discovery of several new gold showings on the western portion of the property including the Road Breccia, Barite, and Jasperoid showings.
Highest surface gold values from the Mustang zone include up to 28 g/t Au over 0.8 metres, occur in dark grey hydrobreccia units, associated with higher arsenopyrite concentrations*. Selected diamond drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 metres, 0.67 g/t Au over 18.3 metres and 0.92 g/t Au over 9.0 metres*. The company is focused on confirming and extending these known mineral showings with the proposed diamond drill program.
*Gold values on adjacent properties in similar rocks, and assays based on historical work in surface sampling and drilling, are not representative of the mineralization on the property, and have not been verified and should not be relied upon.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Mustang and Virginia properties.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
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.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/617275/Sky-Gold-Commences-Drill-Program-Contiguous-to-Both-New-Found-Gold-and-Labrador-Gold-Projects-in-Newfoundland
SKYG.v $SRKZF Sky Expands the Mustang Property Contiguous to New Found Gold's Queensway Gold Project
V.SKYG | 1 hour ago
VANCOUVER, BC / ACCESSWIRE / November 10, 2020 /Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF)("Sky Gold Corp." or the "Company") is pleased to announce the acquisition of two properties, expanding the Company's "Mustang Property" contiguous to the Queensway Gold Project owned by New Found Gold Corp. ("New Found Gold").
Properties acquired:
Kings Point Extension - This property comprises one 150-hectare claim located over the Kings Point topographic feature on the Gander Outflow strait, south of and contiguous to the Mustang property. The property extends for 3.0 km along the border with New Found Gold in an east-west direction between the Appleton and JBP fault zones. New Found Gold has identified gold mineralization along and near the NNE-SSW trending Appleton Fault for over 5 km on trend and north-east of the Kings Point Extension claims.
South Mustang Extension - This property comprises three claims totaling 125 hectares, located contiguous and south of the Company's current Mustang property. A mineral showing designated the "SW Mustang zone" is located approximately 500 meters southwest of the boundary with the Mustang property, and has been mapped, sampled, trenched and drilled by Noranda Exploration Ltd (1988) and Altius Resources Inc. (1998). Noranda trench channel samples returned 1.11 g/t Au over 1.0 m and 0.57 g/t Au over 5.2 m. Drill hole GO-88-05 returned 9.55 g/t Au over 0.5 m (@ 50.8 m), 0.54 g/t Au over 1.0 m (@ 67.0 m), and 2.14 g/t Au over 2.6 m (@ 79.7 m). Altius grab samples in 1998 returned 1.72, 1.08, 0.78, and 0.29 g/t Au, and drill hole GO-98-05 returned 0.46 g/t Au over 11.9 m (@ 30 m), with a higher grade interval of 1.26 g/t Au over 1.9 m. In 2016, a single float rock sample taken by the owner (Report 002D/15/0941) approximately 1 kilometer south of the main Mustang zone returned 6.13 g/t Au with anomalous arsenic and antimony. The Company is initiating a drill program on the Mustang and Piper Zones in mid-November, on trend and north-east of the South Mustang Extension claims.
To earn a 100-per-cent interest in the property (comprising two claims groups) from two arm's-length parties, the company will make cash payments of $65,000, and issue 1.2 million common shares over a period of two years, and grant the underlying vendors a 2-per-cent net smelter royalty (NSR), 50 per cent of which is purchasable by Sky Gold for $1 million at any time.
"The acquisition of these two new claims groups strategically adds to our Mustang property and covers multiple on-trend targets. With drilling starting shortly we are looking forward to being an active participant in the heart of this emerging gold district led by New Found Gold on their Queensway Project." stated Mike England, CEO and President of Sky Gold.
All of the Company's field activities are conducted in conjunction with Federal and Provincial COVID-19 operating protocols and safety measures as required.
SKY GOLD'S NEWFOUNDLAND PROJECTS
Virginia property
The Virginia property comprises 100 hectares and is approximately 5.7 km northeast of New Found Gold's drill hole NFGC-19-01 which intersected 92.86 g.t Au over 19 m (see Mexican Gold Corp. press release dated Jan. 26, 2020). Historic results completed in the early 1990s by Manor Resources Ltd., and documented in assessment file NFLD_2244, which reports two areas of mineralization (Zone A-2). One showing comprised quartz veining developed over a 35-metre-wide zone within sheared gabbro and graphitic shale (main shear) returning up to 8.7 g/t Au, and a second showing comprised a sheared gabbro returned a grab sample up to 109.6 g/t Au. The company is focused on confirming and extending these known mineral showings.
Mustang property
The Mustang property now comprises 1,825 hectares and is contiguous to New Found Gold's Queensway project and approximately 5 km southwest of their discovery hole. The Mustang property hosts numerous gold prospects, including the Mustang and Piper zones, on trend with New Found Gold Corp's current drill program, and the Breccia, Jasperiod, and Barite showings on the western portion of the property.
Gold mineralization was discovered at the Mustang zone in 1987 by Noranda Exploration Company Ltd., which completed geologic mapping, trenching and shallow (average 84 m) diamond drilling (12 holes totaling 1,007.6 m). Altius Resource Inc. completed diamond drilling over the Mustang zone in 1998 (10 holes, 1,197.6 m).In late 2001, Altius held the current claim area, with the Mustang zone anchoring a major northeast-southwest structural feature of prospective geology covered by a large property project known as the Mustang trend. Altius optioned the property to Barrick Gold Corp. which undertook reconnaissance exploration in 2002, which resulted in the discovery of several new gold showings on the western portion of the property, including the Road Breccia, Barite, and Jasperoid showings.
Highest surface gold values from the Mustang zone include up to 28 g.t Au over 0.8 m, occur in dark grey hydrobreccia units, associated with higher arsenopyrite concentrations. Selected diamond drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 m, 0.67 g/t Au over 18.3 m and 0.92 g/t Au over 9.0 m. The company is focused on confirming and extending these known mineral showings with the proposed diamond drill program.
Gold values on adjacent properties in similar rocks, and assays based on historical work in surface sampling and drilling, are not representative of the mineralization on the property, and have not been verified and should not be relied upon.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Mustang and Virginia properties.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
_______________________________
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995 Toll Free: 1-888-945-770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/615717/Sky-Expands-the-Mustang-Property-Contiguous-to-New-Found-Golds-Queensway-Gold-Project
ACCESSWIRE
November 10, 2020 - 5:00 AM PST
Tags:
INDUSTRIAL METALS & MINERALS
SKYG.v's neighbour in Newfoundland pulls another monster hole...
by @newsfile on 27 Oct 2020, 06:15
NFG.v New Found Intercepts 22.3 g/t Au over 41.35m and 31.2 g/t Au over 18.85m in Initial Step-Out Drilling at Keats Zone, Queensway Project, Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - October 27, 2020) - New Found Gold Corp. (TSXV: NFG) (OTC: NFGFF) ("New Found" or the "Company") is pleased to announce preliminary results from the first four 2020 drill holes (NFGC-20-18, 19, 21, and 23) at the Keats Zone ("Keats") as part of an ongoing 100,000 m diamond drill program at its 100% owned Queensway High-Grade Gold Project ("Queensway"), 15 km west of Gander, Newfoundland.
Highlights
Holes NFGC-20-18, 19, 21, and 23 were drilled as part of a 10 m step out pattern around discovery hole NFGC-19-01 (a 3 hole x 3 hole pattern centered on NFGC-19-01) with the intention of establishing the geometry and orientation of veins making up the high-grade gold mineralizing system (Figure 1).
Intervals from these holes displaying significant quartz veining, sulfide mineralization and visible gold and were assayed on a rush basis and returned the following results:
Interval
(m) Au Grade
(g/t)
Targeting
Relative to
NFGC 19-01
NFGC-20-18 7.9 24.1 10 m north, 10 m above
NFGC-20-19 18.85 31.2 10 m north, same elevation
NFGC-20-23
including
including 41.35
21.25
11.35 22.3
39.8
68.6 10 m north and 10 m below
10 m north and 10 m below
10 m north and 10 m below
NFGC-20-21 18.35 15.8 10 m below
NFGC-19-01 19.0 92.9 Previously reported
The exact orientation of the veins is uncertain but believed to be steeply dipping thus implying true widths of the high-grade zone to be in the 70% to 80% range of reported drill lengths.
These intervals start at down hole depths ranging from 82.7 m to 101.7 m.
An additional four holes (NFGC-20-25, 28, 29 and 32, see Figure 1) have been completed as 10 m step outs from NFGC-19-01 and intervals from these holes have also been submitted for assay on a rushed basis.
Pending drill holes include step out drilling 50 m to the north and south of NFGC-19-01.
Greg Matheson, P.Geo., Chief Operating Officer of New Found, stated: "We are very pleased that our initial step-out drilling at Keats is demonstrating strong continuity of veining and high-grade gold mineralization. Our 10 m step out pattern around Hole NFGC-19-01 is providing valuable information about the orientation of veining and grade distribution. Historic work and more recent drilling at Keats have demonstrated gold mineralization over at least 300 m of strike and the target remains open along strike and to depth. Our program will continue systematic step out drilling to test this larger target area."
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Figure 1. Drill hole collar and interval locations
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Figure 2. Example gold mineralization in Keats hole NFGC-20-23
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Drill Collar and Interval Summaries
Hole No. Azimuth (°) Dip (°) Length (m) UTM E UTM N
NFGC-20-18 300 -45 278 658223 5427467
NFGC-20-19 300 -45 154 658232 5427462
NFGC-20-21 300 -45 190 658236 5427449
NFGC-20-23 300 -45 185 658240 5427458
Hole No. From (m) To (m) Interval (m) Au (g/t) Zone
NFGC-20-18 92.0 99.9 7.9 24.1 Keats Main
Incl. 98.9 99.9 1.0 167.6
NFGC-20-19 89.65 108.5 18.85 31.2 Keats Main
Incl. 96.0 107.25 11.25 50.7
Incl. 102.0 107.25 5.25 100.6
NFGC-20-19 151.0 152.9 1.90 4.4 Keats FW
NFGC-20-21 101.65 120.0 18.35 15.8 Keats Main
Incl. 109.55 118.5 8.95 29.4
NFGC-20-23 82.65 124.0 41.35 22.3 Keats Main
Incl. 89.45 110.7
21.25
39.8
Incl. 93.65 105.0 11.35 68.6
93.65 94.0 0.35 1120
101.8 104.4 2.60 140.8
Incl. 118.85 123.4 4.55 15.2
Table 1. Drill hole collar and interval summaries.
QA/QC
True widths of the new exploration intercepts reported in this press release have yet to be determined but are estimated to be 70% to 80% of reported core lengths. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cutoff of 1.0 g/t Au. All HQ split core assays reported were obtained by either whole sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P.Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument 43-101.
About New Found Gold Corp
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately C$75 million the Company is well financed for aggressive exploration with an initial planned drill program of 100,000 meters. New Found has a proven capital markets and mining team with major shareholders include Palisades Goldcorp (33%), Eric Sprott (18%), Novo Resources (11%), Rob McEwen (7%), other institutional ownership (8%), and management, directors and insiders (4%). Approximately 65% of the Company's issued and outstanding shares are subject to escrow or 180-day lock up agreements.
Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.
Acknowledgments
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., Chief Executive Officer
Email: croberts@newfoundgold.ca
Phone: (604) 562 9664
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.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further the exploration and drilling on the Company's Queensway gold project in Newfoundland. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66913
EAS.v $EAIAD $EAIAF East Asia Minerals Receives AMDAL Environmental Permit Approval for Sangihe Gold Project
by @thenewswire on 3 Sep 2020, 09:16
(TheNewswire)
September 3, 2020 – TheNewswire - East Asia Minerals Corporation (the “Company” or “EAMC”) (TSXV:EAS) (OTC:EAIAF) is pleased to announce a meeting of North Sulawesi government and community representatives was held on September 2, 2020, and the Company received notice of the approval of the AMDAL environmental report (AMDAL) for Sangihe. In furtherance of the issuance of the final permit, the Company is now attending to the preparation and submission of the necessary filings to complete the process. The Company expects the permit will be issued in the next few days. EAMC will immediately apply for an upgrade of the licence to 30-year operation production status.
Terry Filbert, Chairman and CEO of East Asia Minerals commented, “This is a milestone achievement for EAMC, and I am very proud of the team for meeting all of the necessary requirements to get the Sangihe project approved for the AMDAL licence. Since joining EAMC in 2017, this has been my primary focus despite challenging markets for venture mining.”
“The timing has been fortuitous and impeccable given the recent rising of gold prices. The Company was able to take advantage of the delays we experienced waiting for the AMDAL environmental meeting to be held to initiate many of the steps necessary to secure the production licence, and prepare for construction.”
In the last few weeks, the Company signed an agreement and commenced the land survey work required for the land acquisition (as announced on August 20, 2020), completed the mining reclamation plan, paid all of the ancillary financial obligations, and completed all regulatory requirements to obtain the production licence.
Before the production licence is issued, the Company must pay US$400,000 for past and current deadrent. Deadrent is the annual mining licence tax paid to the federal government based on a cost per hectare for the area assigned in the contracted Sangihe gold area. The Company plans to use funds received from the current warrant exercises to pay this financial obligation. Subject to the final environmental permit being issued as well the Indonesian Government Operations Production License being granted, the Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the leading gold producer countries in the world. EAS plans to advance and permit Sangihe in near term and raise funds for a heap leach operation. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.
East Asia has a team of mining professionals in North America and locally in Indonesia with extensive experience in starting and operating small-scale gold and coal assets. With the team in place, East Asia plans to raise capital and market awareness to develop it’s highly prospective project portfolio.
Frank Rocca, BAppSc. (Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
EAST ASIA MINERALS CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
Chairman & CEO
info@eastasiaminerals.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum -
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither 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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements.. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2020 TheNewswire - All rights reserved.
SKYG.v neighbour in Newfoundland NFG.v is breaking out today ...fyi ...cheers...hsb
SKYG.v $SRKZF Stockwatch Gold Summary for Aug. 12, 2020
Gold Summary for Aug. 12, 2020
2020-08-12 17:31 ET - Market Summary
by Stockwatch Business Reporter
Collin Kettell and Craig Roberts's New Found Gold Corp. (NFG) jumped 14 cents to $1.54 on 3.94 million shares on word that it plans a two-phase, 100,000-metre drill program at its Queensway gold project in central Newfoundland. The drilling, which will churn away until the end of 2021, has a variety of goals, including a closely-spaced follow-up to a rich hit in the Keats zone last year, which produced 92.9 grams of gold per tonne over 19 metres, helped by a six-metre zone averaging 285.2 grams of gold per tonne.
The big drill plan prompted a two-alarm promotional response. Mr. Kettell, executive chairman, was first on the scene. He says that the drilling will be supported by the company's $72-million in working capital, a far cry from its days as a private company in which it managed to spend just $10-million over five years. Mr. Kettell excitedly reminded investors that the company was embarking on this major drill program to follow up on last year's rich hit at Keats.
Mr. Roberts, CEO, was subdued with his excitement. He thanked investors for their support and promised to "work hard to execute our programs with effectiveness and efficiency." He promised a steady stream of drill results over the coming year or two, then got back to giving thanks -- this time to local stakeholders and bureaucrats -- and pledged to work with them through "this next exciting phase of exploration."
New Found Gold is a newfound listing on the TSX-V, first appearing on Tuesday with considerable fanfare: The stock added 10 cents to $1.40 on 5.05 million shares on its first day, undoubtedly pleasing investors who paid $1.30 per share in the company's $27.3-million initial public offering. New Found's shareholders include Eric Sprott, who owns 18 per cent of its stock, and Rob McEwen, who holds 7 per cent. (Palisades Goldcorp is the largest shareholder, with a 33-per-cent interest.)
Mr. Sprott is hedging his bets in the area. He is also a significant investor in Michael England's Sky Gold Corp. (SKYG), which fell three cents to 15.5 cents on 2.24 million shares today on word that it has started work on the nearby Mustang and Virginia properties. The work now under way -- prospecting, mapping, sampling and trenching -- is expected to lead to a drill program this fall. With luck, Sky Gold will have some promotable drill results of its own to tout, but in the meantime, Mr. England is making hay with the rich hit at Queensway.
SKYG.v $SRKZF Sky Gold Initiates Field Work on Central Newfoundland Properties Contiguous To New Found Gold's Queensway Gold Project
by @accesswire on 11 Aug 2020, 05:01
VANCOUVER, BC / ACCESSWIRE / August 11, 2020 / Sky Gold Corp. (TSX-V:SKYG) (OTC PINK:SRKZF)("Sky Gold Cop." or the "Company") is pleased to announce the start of field activities on the "Mustang Property" and the "Virginia Property", contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. ("New Found Gold"). Government issued work permits for surface exploration have been received on both properties.
The Company is also pleased to have engaged Grassroots Prospecting ("Grassroots"), a local, Newfoundland-based, prospector-driven organization, to assist with the exploration and logistics of field activities on our Newfoundland properties. Grassroots is very experienced and knowledgeable on the geology, mineral showings and exploration history of the Mustang Project and have led the permitting process for exploration and directed towards a fall drill program.
Exploration activity will include prospecting, geological mapping, rock outcrop and subcrop sampling, soil geochemistry and hand trenching. The eastern portion of the Mustang Property hosts the well documented Outflow prospect discovered by Noranda Exploration Company Ltd., drilled by Altius Resources (with Barrick Gold) in the late 1990's and early 2000's, and investigated by the Newfoundland government geologist (C.G. Squires, 2005) and a 2006 Master Thesis (J.M. O'Driscoll). Highest gold values, up to 28 grams per tonne gold (g/t Au) over 0.8 metres, occur in dark grey hydrobreccia units, associated with high arsenopyrite concentrations. Selected diamond drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 m, 0.67 g/t Au over 18.3 m and 0.92 g/t Au over 9.0 m.*
* Gold values on adjacent properties in similar rocks, and assays based on historical work, are not representative of the mineralization on the property, have not been verified and should not be relied upon.
The Outflow prospect comprises the "Mustang" and "Piper" mineralized zones. Squires reports: "The silicified zones trend for at least 3 km to the northeast, locally in association with fault zones, and consist of chalcedonic silica in association with comb-textured and crustiform quartz and hydrothermal breccia. Disseminated pyrite is associated with some of the higher grade samples, and needles of possible stibnite have been noted.….the vein textures are reminiscent of low-sulphidation epithermal mineralization…." The geologic textures and style of brecciation, and associated minerals including arsenic, antimony, mercury and barite are interpreted to be similar to the geologic model proposed for the Keats Zone on the New Found Gold Kingsway property.
Other targets on the Mustang property include the Road Breccia, Barite, Jasperoid and Gervase's Lane showings. Discovered by prospecting in 2003 the Jasperoid showing has geological similarities to silicified semi-calcareous rocks from the Carlin district of Nevada. Squires reports: "The Jasperoid showing is exposed as a 1.5 wide by 5 m long, southwest-trending zone of silicification… Immediately adjacent to the Jasperoid showing is a set of quartz veins that have east-west trends perpendicular to stratigraphy. These veins have distinctive epithermal textures
in the form of banded coliform quartz and bladed quartz pseudomorphs that have likely replaced calcite or barite. Alteration at this latter location was evidently controlled by a discordant fault or joint that strikes toward the Mustang showing,".
President Mike England states: "Working with Grassroots Prospecting, we are looking forward to initiating our exploration programs on the Mustang and Virginia properties in this emerging gold district, led by New Found Gold. Drill permitting is underway on multiple targets for later this fall."
All Company activities are conducted under guidelines and policies compliant with federal and provincial health and safety protocols related to the COVID-19 pandemic.
The Company further announces it has granted a total of up to 600,000 stock options to directors and consultants of the company exercisable at a price of $0.20 per share for a period of two year from the date of grant. The options have been granted in accordance with the company's stock option plan.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Mustang and Virginia properties.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
_________________________
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/601137/Sky-Gold-Initiates-Field-Work-on-Central-Newfoundland-Properties-Contiguous-To-New-Found-Golds-Queensway-Gold-Project
"... NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES..."
Do NOT read if you are American or reside in the USA.
"...Kerr Mines Announces Closing of $5 Million Bought Deal Financing
Financing
TSX: KER
www.kerrmines.com
Mr. Giulio Bonifacio reports:
"...TORONTO, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX: KER, OTC: KERMF), (“Kerr” or the “Company”) is pleased to announce that it has closed its previously announced bought deal financing for aggregate gross proceeds of $5,000,800 (the “Offering”). https://kerrmines.com/
Pursuant to the Offering, the Company issued a total of 35,720,000 units of the Company (the “Units”) at a price of C$0.14 per Unit. Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.22 for a period of 24 months. Haywood Securities Inc. acted as sole underwriter for the Offering.
Giulio T. Bonifacio, Chief Executive Officer, stated: “We are extremely pleased with the strong investor demand, including from a broad base of new investors, which resulted in the upsize of the initial bought deal offering. With funding in hand, the Company will commence its 2020 resource and reserve expansion drilling program, consisting of 8,000 meters, which will expand upon a very successful drilling program in 2019. A drill contractor has been selected and a drill rig is currently being mobilized to the Copperstone project. With our recent agreement to buy-back a 3 per cent gross production royalty the Company is well positioned for the restart of production at the Copperstone gold project, subject to arranging project financing.”
The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. https://www.haywood.com/
About Kerr Mines Inc.
Kerr Mines is an Emerging American Gold Producer currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. This gold project in Arizona demonstrates tremendous exploration potential targeting multi-million-ounce prospects within a 50 Square kilometers (12,259 acre) land package.
For further information please visit the Kerr Mines website (www.kerrmines.com)
For further information contact:
Giulio Bonifacio
Chief Executive Officer
gtbonifacio@kerrmines.com
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on future exploration plans and the expected use of proceeds of the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to: the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; reliance on third parties, the degree to which mineral resource and reserve estimates are reflective of actual mineral resources and reserves; the degree to which factors which would make a mineral deposit commercially viable are present; and the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company’s disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/728-tsx/ker/81951-kerr-mines-announces-closing-of-5-million-bought-deal-financing.html
https://financialpost.com/pmn/press-releases-pmn/globe-newswire-releases/kerr-mines-announces-closing-of-5-million-bought-deal-financing
https://www.mining-journal.com/capital-markets/news/1392722/sprott-boosts-teuton-nubian-and-orex
EAS.v $EAIAD $EAIAF East Asia Minerals in Final Stages of Amdal Approval for Sangihe Gold Project, Indonesia, and $100,000 Financing
by @thenewswire on 16 Jul 2020, 16:13
(TheNewswire)
TheNewswire - July 16, 2020 - East Asia Minerals Corporation (”EAMC” or “The Company”) (TSXV:EAS) (OTC:EAIAF) is pleased to announce that the final environmental assessment study (AMDAL) has been submitted to the relevant environmental office in the Province of North Sulawesi. EAMC is anticipating the approval of the AMDAL and it to be issued by the authority within two weeks of this submission.
The approved AMDAL, together with the Indonesian Feasibility Study (IFS) from August 2018 which has been approved and completion of financial obligation to the government, are the requirements to upgrade the Sangihe Gold Project license to production operation stage.
Once EAMC obtains the production operation license, anticipated to be in Q3 2020, the Company will start on production financing and next steps to bring the Sangihe Gold project to operation.
NON-BROKERED $100,000 FINANCING FOR AMDAL
In support of the preparation of the AMDAL permit, the Company will issue 909,091 worth of shares at $0.11 unit price for proceeds of $100,000 (the ”offering”) to top up AMDAL related professional fees, mining reclamation planning process at Sangihe, and working capital expenditures relating to the AMDAL.
The units will be taken by long-term EAS stakeholders and investors and is expected to close by July 27, 2020. Each unit is comprised of one (1) common share and one (1) share purchase warrant exercisable for a term of two years for the purchase of an additional common share at the prices of $0.15 per common share.
The exercise of the warrants shall be subject to the following acceleration provision: if for any ten (10) consecutive trading days the closing price of the Shares on the TSX Venture Exchange (the “Exchange”) exceeds $0.19 at any time commencing (4) months after the Closing Date and until the expiry date of the warrants, then the remaining term of the warrants will be reduced to thirty (30) days, commencing after the end of such ten (10) consecutive trading day period. The Issuer will notify warrant holders by way of a press release that the warrants have accelerated and provide new expiry dates in such press release. This clause may not be used to extend the expiry date of the warrants.
ISSUE OF STOCK OPTIONS
The Company announces that it has granted an aggregate amount of 1,000,000 stock options to a consultant of the company in accordance of the provisions of the company's stock option plan, subject to approval of the TSX Venture Exchange. Each option entitles the holder to purchase one common share of the company at an exercise price of $0.10 for a five-year period.
The foregoing transactions are subject to approval of the Exchange
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold as reported in the Company’s “Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia” dated May 30, 2017 Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with two assets totaling combined resources of 3.3 million ounces NI 43-101 gold resources in Indonesia, one of the leading gold producer countries in the world. EAS plans to advance and permit Sangihe in near term and raise funds for a 1,000 ounces per month heap leach operation. With cashflow from operations, the plan is to further expand resources through drilling of the Company’s projects. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.
East Asia has a team of mining professionals in North America and locally in Indonesia with extensive experience in operating small scale gold and coal assets, working diligently to develop it’s highly prospective project portfolio.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
EAST ASIA MINERALS CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@eastasiaminerals.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither 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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2020 TheNewswire - All rights reserved.
SKYG.v OTC PINK:$SRKZF Sky Gold Financing Fully Subscribed Including Strategic Investment by Eric Sprott
by @accesswire on 13 Jul 2020, 05:01
VANCOUVER, BC / ACCESSWIRE / July 13, 2020 / Sky Gold Corp. (TSX-V:SKYG) (OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce that it has fully subscribed its previously announced private placement (see news release dated July 10, 2020).
Mr. Eric Sprott is expected to participate in the Offering in an amount equivalent to provide a 19.9%, non-diluted, ownership interest in the issued and outstanding common shares of Sky Gold Corp. Assuming the Offering is fully subscribed, and there is no over-allotment, Mr. Sprott's subscription is expected to be C$1,050,000 or 10,500,000 Units, representing approximately 52.5% of the Offering.
The financing comprises 20 million units at a price of 10 cents per unit for aggregate gross proceeds of $2-million, with each unit consisting of one common share and one-half of one transferable common share purchase warrant of the company entitling the subscriber to purchase one warrant share for a 24-month period after the closing date at an exercise price of 15 cents per share.
"Sky Gold's Newfoundland projects are adjacent to what is about to become a hotbed of activity this summer as our very well financed neighbour, New Found Gold Corp., prepares to drill a projected 100,000 meters over the next year. We look forward to exploring and drilling on our own properties in this up and coming, prolific gold camp." commented Mike England, CEO of Sky Gold Corp.
Sky Gold's Newfoundland portfolio consists of two properties in Central Newfoundland: the recently expanded Mustang property and the Virginia property, contiguous to the south-western and north-eastern portions, respectively, of the Queensway Gold Project owned by New Found Gold Corp. The enlarged Mustang Expansion property comprises 1,875 ha with exploration activities to be conducted with local Gander-based crews that are ready to mobilize. Initial work, leading up to an inaugural drill program expected to commence later this summer, will include prospecting, geological mapping, rock outcrop and subcrop sampling and hand trenching. Work permits have just been received for the Virginia property, and permits for Mustang are expected to be approved.
The eastern portion of the Mustang property hosts the well-documented Outflow prospect discovered by Noranda Exploration Company Ltd., later drilled by Altius Resources (with Barrick Gold) in the late 1990's and early 2000's, and investigated by a Newfoundland government geologist (C.G. Squires, 2005) and a 2006 Master Thesis (J.M. O'Driscoll). Highest gold values, up to 28 grams per tonne gold (g/t Au) over 0.8 metres, occur in dark grey hydrobreccia units associated with elevated arsenopyrite concentrations. Select diamond drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 m, 0.67 g/t Au over 18.3 m and 0.92 g/t Au over 9.0 m.*
The Virginia property hosts the Virginia Holdings prospect, located approximately 0.6 kilometres north of the Gander River. The prospect consists of quartz veining developed over a 35 metre wide zone within sheared gabbro and graphitic shale (main shear). A second shear zone, hosted in gabbro, is developed 35 metres north of the main shear. Grab samples* collected from the main shear reportedly assayed up to nine grams per tonne gold and up to 109.6 grams per tonne gold from the sheared gabbro (refer to Company Press Release, February 11, 2020).
*Gold values on adjacent properties in similar rocks and assays based on historical work are not representative of mineralization on the property, have not been verified and should not be relied upon. Gold samples from grab samples may not represent a representative grade of the mineralization.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Newfoundland properties.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, USA, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
______________________
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT US:
Tel: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/597230/Sky-Gold-Financing-Fully-Subscribed-Including-Strategic-Investment-by-Eric-Sprott
SKYG.v $SRKZF Sky Gold Financing
by @accesswire on 10 Jul 2020, 14:16
VANCOUVER, BC / ACCESSWIRE / July 10, 2020 / Sky Gold Corp. (TSXV:SKYG)(OTC:SRKZF) ("Sky Gold" or the "Company") announces that it has arranged a non-brokered private placement of up to 20 million units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of $2,000,000.00 (the "Offering").
Each Unit will be comprised of one common share ("Share") and one half of one transferable common share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.15 per share. The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if Sky's shares trade above $0.35 for 10 consecutive trading days, the Company has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days.
The Company intends to rely on the "investment dealer" prospectus exemption, among other prospectus exemptions, with respect to the private placement. As such, the Issuer confirms that there is no material fact or material change about Sky Gold that has not been generally disclosed.
Proceeds raised from the Offering will be used for general working capital and to further the Company's newly expanded Mustang property and Virginia property, located in Central Newfoundland.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
This offering is subject to TSX Venture Exchange acceptance.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
_______________________________
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/597114/Sky-Gold-Financing
EAS.v $EAIAD $EAIAF Equity Guru out with some exposure ...fyi
cheers,
hsb
https://equity.guru/2020/05/27/east-asi ... d-deposit/
Doubleview Gold has a very big deposit on it's hands....IP is 3.7km x 2.7km which makes it one of the biggest deposit foot prints in North America imo.
CEO owns approx 22% of the shares (approx 23 million shares)
12 May Drill Results:
Doubleview Drills Strongest Mineralization Discovered so far at Hat Property including 258 meters of 0.31 g/t Gold and 0.47% Copper (1% Cu Eq) in an interval of 450 meters of 0.23 g/t Gold and 0.35% Copper (0.7% Cu Eq)
https://www.doubleview.ca/
For more info on DBG see the following:
This is an 11 page DD write-up
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1fcirg8-DOUBLEVIEW%20GOLD%20CORP%20SHAREHOLDER%20WRITE%20UP.pdf
To discuss more about DBG
https://investorshub.advfn.com/Doubleview-Gold-Corp-DBG-37934/
WHN.v Westhaven Announces C$5.0 Million Bought Deal Private Placement of FlowThrough Common Shares
by @nasdaq on 25 May 2020, 05:11
VANCOUVER, British Columbia, May 25, 2020 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (“Westhaven” or the "Company") (TSX-V:WHN) is pleased to announce that it has entered into an agreement with PI Financial Corp., as lead underwriter and on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters shall purchase 5,264,000 common shares that qualify as “flow-through shares” of the Company for the purposes of the Income Tax Act (Canada) (the “Flow-Through Common Shares”) at a price of C$0.95 per Flow-Through Common Share, on a “bought deal” private placement basis, for aggregate gross proceeds to the Company of approximately C$5.0 million (the “Offering”). The Company has also granted the Underwriters an option to purchase up to an additional 1,052,800 Flow-Through Common Shares at the offering price up to the Closing Date.
The gross proceeds from the Offering will be used to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) and “BC flow-through mining expenditures” (within the meaning of the Income Tax Act (British Columbia)), related to Westhaven’s projects in British Columbia, Canada. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2020.
The Offering is scheduled to close on or about June 16, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange. The Flow-Through Common Shares will be subject to a four month hold period from the date of closing of the Offering.
In consideration for their services, the Underwriters will receive a cash commission equal to 5.0% of the gross proceeds of the Offering, including any proceeds realized from the exercise of the Underwriters’ option.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Westhaven:
Westhaven is a gold-focused exploration company, currently advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt,. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director
For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavenventures.com
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.
Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements and information include, but are not limited to, statements in respect of the proposed Offering including the proposed use of proceeds, the closing date of the Offering and receipt of regulatory and stock exchange approvals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the current COVID-19 pandemic; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
Westhaven undertakes no obligation to update forward-looking information except as required by applicable law. Such forward looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SKYG.v $SRKZF Sky Gold Expands Mustang Property in Central Newfoundland Contiguous to New Found Gold's Queensway Gold Project
by @accesswire on 7 May 2020, 07:03
VANCOUVER, BC / ACCESSWIRE / May 7, 2020 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce the expansion of the "Mustang Property", in Central Newfoundland, contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. ("New Found Gold"). The "Mustang Expansion" Property comprises 57 claims over 1,425 ha and connect the eastern and western Mustang block, which hosts known mineral occurrences.
The newly acquired claims represent more than a 300% increase in land holdings for a total of 1,875 ha for the property (see Figure 1). The Mustang Expansion extends across the Gander Lake outflow to the eastern shore contiguous to New Found Gold's Queensway Project and covers a portion of their interpreted Appleton Fault Zone.
Figure 1. - Location map of Sky Gold Corp.'s Newfoundland Projects
As previously reported (see press release dated January 31, 2020) Sky Gold had acquired the Mustang property, comprising two non-contiguous blocks of claims. The eastern claim block hosting the Outflow prospect, comprising the Mustang and Piper mineralized zones. The eastern claim block is contiguous to New Found Gold's Queensway gold project to the south. The western claim block is located approximately 2.2 kilometres west-northwest of the eastern claims. With the Mustang Expansion, the two blocks are now part of the larger property. The northern part of the current Mustang Property is only 2.5 kilometers south of the village of Glenwood, with abandoned logging road accessing the area. Glenwood is located on the Trans-Canada Highway 25 kilometres west of an international airport in Gander.
Gold mineralization was discovered at the Outflow prospect in 1987 by Noranda Exploration Company Ltd., which completed geologic mapping, trenching and shallow (average 84 metres) diamond drilling (12 holes totaling 1,007.6 metres). In late 2001, Altius Minerals Corp. held the current claim area, with the Mustang zone anchoring a major northeast-southwest structural feature of prospective geology covered by a large property project known as the Mustang trend. Altius optioned the property to Barrick Gold Corp., which undertook reconnaissance exploration in 2002 which resulted in the discovery of several new gold showings, including the Road Breccia, Barite, Jasperoid and Gervase's Lane showings. Exploration on the property was curtailed in late July 2003, when Barrick terminated its option.
Highest gold values, up to 28 grams per tonne gold (g/t Au) over 0.8 metres, occur in dark grey hydrobreccia units, associated with higher arsenopyrite concentrations. Selected diamond drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 metres, 0.67 g/t Au over 18.3 metres and 0.92 g/t Au over 9.0 metres.*
*Gold values on adjacent properties in similar rocks, and assays based on historical work, are not representative of the mineralization on the property, have not been verified and should not be relied upon.
Two geologic models have been proposed for the gold mineralization at the Mustang prospect. A low sulphidation epithermal model is proposed, based on the silicified zones, locally in association with fault zones, and consist of chalcedonic silica in association with comb-textured and crustiform quartz and hydrothermal breccia. However, Altius Minerals Corp. considered the Mustang prospect as a possible example of Carlin-style mineralization (Altius Minerals press release dated Aug. 21, 2003), supported by typical enriched trace-element assemblages (As, Sb, Tl, Hg and Ba) of Carlin deposits, and barite veins, breccia matrix and stockwork hosted by calcareous sedimentary rocks.
President Mike England states: "With the expansion of the Mustang property, we considerably increase the prospectivity and potential of the project, in an active, emerging gold district, led by the recent success of New Found Gold. The company is currently reviewing assessment reports on the expanded property, with an aggressive Phase 1 exploration planned for the summer, subject to provincial health and safety protocols related to the COVID-19 pandemic."
To earn a 100-per-cent interest in the Mustang Expansion property from an arm's-length party, the company will make a one-time payment of $12,000 cash, the issuance of 600,000 common shares plus grant the underlying vendor a 2-per-cent net smelter royalty (NSR), 50 per cent of which is purchasable by Sky Gold for $1 million at any time.
This transaction is subject to TSX Venture Exchange approval.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Clone property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is now positioned in Newfoundland with the Mustang Gold project plus in Nevada with the Evening Star polymetallic property.
ON BEHALF OF THE BOARD
"Mike England"
__________________________
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/588868/Sky-Gold-Expands-Mustang-Property-in-Central-Newfoundland-Contiguous-to-New-Found-Golds-Queensway-Gold-Project
SKYG.v $SRKZF Sky Gold Closes Third And Final Tranche Of Financing
by @accesswire on 4 May 2020, 16:08
VANCOUVER, BC / ACCESSWIRE / May 4, 2020 / Sky Gold Corp. (TSX-V:SKYG) (OTC PINK:SRKZF)("Sky Gold Cop." or the "Company") is pleased to announce that the Company has closed the third and final tranche of its previously announced non-brokered private placement (see PR's dated January 31st, March 26th, April 16th, and April 27, 2020). For the fully subscribed three tranches the Company issued a total of 7,500,000 units for total aggregate gross proceeds of $375,000.00.
Each Unit is comprised of one common share (a "Share") and one transferrable Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a 24-month period after the Closing Date. Finders fees for the 3 tranches of $19,240 and 384,800 finder's warrants were paid to arms length parties. Finder's warrants entitle the Finder to purchase one common share in the Company at a price of $0.10 for a period of 24 months from the date of closing.
All securities issued in the third tranche are subject to a statutory hold period expiring on September 5th, 2020.
The financing, although conditionally approved by the TSX Venture Exchange (TSXV), is subject to final approval.
Proceeds raised from the Offering will be used for general working capital and to advance recently acquired land tenures in Central Newfoundland.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
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.
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/588385/Sky-G ... -Financing
MEXICO MINISTRY OF HEALTH ORDERS THIRTY-DAY SUSPENSION OF ALL NON-ESSENTIAL BUSINESS INCLUDING MINING
FOR IMMEDIATE RELEASE NEWS April 1, 2020 NYSE American: GORO
This will effect everybody with Mexican operations.
COLORADO SPRINGS – April 1, 2020 – Gold Resource Corporation (NYSE American: GORO) (the “Company”) announced today that the Mexican Ministry of Health proclaimed a national health emergency with an immediate suspension order of all “non-essential” public and private sector business in order to mitigate the spread and transmission of the COVID-19 virus. The order became effective on its publication date in the Official Gazette of the Federation (dated March 31, 2020) and remains in place for a period of 30 days, from March 30 to April 30, 2020. This suspension order temporarily closes the Company’s Oaxaca Mining Unit operations in Mexico.
Gold Resource Corporation is in the process of furloughing its Oaxaca Mining Unit workforce, none of whom have been diagnosed with the virus. A limited operational staff will maintain safety and environmental systems at the Oaxaca Mining Unit along with performing care and maintenance with a goal to return to production as quickly as possible once the thirty-day suspension is lifted. Due to this mandated shutdown the Company suspends its 2020 production outlook.
The Company’s Nevada Mining Unit is currently operating while taking numerous precautionary measures to keep its employees safe. As this unprecedented situation continues to evolve on often an hourly basis, we appreciate our shareholders’ support as we navigate the impacts of the COVID-19 pandemic on the business world.
About GRC:
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $113 million back to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.
Cautionary Statements:
This press release contains forward-looking statements … (cont)
https://goldresourcecorp.com/releases/GRC-2020-04-01-1.pdf
Copper Destroys Viruses and Bacteria. Why Isn’t It Everywhere?
It could destroy norovirus, MRSA, virulent strains of E. coli, and coronaviruses—including the novel strain currently causing the COVID-19 pandemic.
https://www.vice.com/en_us/article/xgqkyw/copper-destroys-viruses-and-bacteria-why-isnt-it-everywhere?fbclid=IwAR3wlD6LKgQr7mP2-mad6w_Jg3uJApz1QhBnLIKEBwSgGNPfVdY_-4BG0Do
Keith Neumeyer, CEO of First Majestic Silver (TSX:FR,NYSE: AG), believes the white metal could reach the US$130 level. https://investingnews.com/daily/resource-investing/precious-metals-investing/silver-investing/silver-price-1000-per-ounce/
$NAK Northern Dynasty Minerals copper project in Alaska moving into permitting stage
SKYG.v $SRKZF Sky Gold Acquires Second Gold Property in Central Newfoundland Contiguous to New Found Gold's Queensway Gold Project
V.SKYG | 53 minutes ago
VANCOUVER, BC / ACCESSWIRE / February 11, 2020 / Sky Gold Corp. (TSXV:SKYG)(OTC:SRKZF)("Sky Gold" or the "Company") is pleased to announce the acquisition of a second gold property known as the "Virginia Property", in Central Newfoundland, contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. ("New Found Gold"). The Virginia property is approximately 5.7 kilometers north-east of New Found Gold's drill hole ("NFGC-19-01") which intersected 92.86 g/t Au over 19.0 meters (see Mexican Gold Corp., Press Release dated January 26, 2020)*.
The Virginia Property comprises 100 hectares and is also located 8.2 kilometers north-east of the Company's recently acquired Mustang Eastern Property (see SKYG Press Release January 31, 2020), The property is located 3.3 kilometers north-east of the village of Glenwood, which is situated on the Trans-Canada Highway, 25 kilometers west of an international airport in Gander. The southeast corner of the Virginia property is adjacent to the Gander River and accessed by trails from the Salmon Pond road.
The Virginia property hosts the "Virginia Holdings" Prospect (National Mineral Inventory Number: 002E/02/Au 006), located approximately 0.6 km north of the Gander River. The prospect consists of quartz veining developed over a 35 meter wide zone within sheared gabbro and graphitic shale (main shear) (Manor Resources Inc., press release, 1992). A second shear zone is hosted in gabbro is developed 35 meters north of the main shear.
Anomalous soil and till samples, followed by trenching led to the discovery in subcrop. Grab samples collected from the main shear reportedly assayed up to 9.0 grams per tonne gold (g/t Au) and up to 109.6 g/t Au from the sheared gabbro (Manor Resources Inc., press release, 1992).*
A larger property was initially explored by Noranda Exploration Company Limited, but no record of this assessment work was submitted. Over the area from 1988 to 1992, AVIP Resources (later Manor Resources Inc.) conducted a lake sediment geochemical survey, till sampling and panning, chemical and petrographic analyses of pan concentrates, prospecting, geological mapping, geophysical surveys (magnetic and VLF), diamond drilling and trenching (source: W.A. MacPherson Associates Inc., 1993 assessment file GSB# NFLD/2244). On, or near, the current Virginia property, four diamond drill holes were reportedly completed, comprising 278.7 meters (average depth 70 meters), with the best intercept being 0.26 g/t Au over 0.74 meters. Drill holes were directed at magnetic and electromagnetic (EM) anomalies.
* Gold values on adjacent properties in similar rocks, and assays based on historical work, are not representative of the mineralization on the property, have not been verified, and should not be relied upon.)
President, Mike England states: "The acquisition of the Virginia property increases the Company's land holdings in this active, emerging gold district, fueled by the recent success of New Found Gold's drilling on the Queensway Gold Project. The Company is actively reviewing additional properties for acquisition in the district, through our network established in Newfoundland."
To earn a 100-per-cent interest in the "Virginia Property" from an arms-length party, the Company will make a one-time payment of $20,000 cash, the issuance of 400,000 common shares of the company. The underlying vendor retains a 1.5 per-cent net smelter royalty (NSR), with an option by Sky Gold to purchase 0.5% for $0.5 million at any time.
This transaction is subject to TSX Venture Exchange approval.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Newfoundland projects.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company owns the Evening Star property, located 12 kilometres southeast of Hawthorne, NV, which is prospective for gold mineralization and carbonate replacement deposits (CRD) base and precious (silver and gold) mineralization; and several properties in Newfoundland, Canada, that are prospective for gold mineralization.
ON BEHALF OF THE BOARD
"Mike England"
_______________________________
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/576048/Sky-G ... ld-Project
ACCESSWIRE
February 11, 2020 - 6:15 AM PST
Tags:
INDUSTRIAL METALS & MINERALS
WHN.v Westhaven Drills 5.00 Metres of 13.90 G/t Gold and 105.55 G/t Silver; and 49.08 Metres of 1.45 G/t Gold and 6.25 G/t Silver at Shovelnose
by @nasdaq on 6 Feb 2020, 06:00
VANCOUVER, British Columbia, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report final drill results from its 2019 drill program at its 17,623 hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Highlights of the most recent results include:
Hole SN19-38 returned 5.00 metres (m) of 13.90 g/t gold (Au) and 105.55 g/t silver (Ag) in Vein Zone 1 at the ~1,100m elevation level.
Hole SN19-37 returned 49.08 m of 1.45g/t Au and 6.25 g/t Ag, including 15.00 m of 3.26 g/t Au and 11.64 g/t Ag, and also including 3.58 m of 8.29 g/t Au and 30.31 g/t Ag in Vein Zone 1.
Hole SN19-35 returned 3.00 m of 3.60 g/t Au and 2.38 g/t Ag and 2.47 m of 5.22 g/t Au and 13.95 g/t Ag in Vein Zone 2.
Hole SN19-49 returned 151.70 m of 0.19 g/t Au and 1.20 g/t Ag in Vein Zone 2. Importantly, significant veining was encountered which leads management to believe the system continues to the northwest.
*Based on the geology of the vein zones with steep dips to the west, true widths are estimated to be about 80-90% of reported interval lengths. Please see the plan map below.
*Please see the full table of assay results from all 2019 drill holes here: https://www.westhavenventures.com/projects/shovelnose-gold/maps/
Gareth Thomas, President and CEO of Westhaven, stated: "The high-grade gold intercept in hole SN19-38 is the most significant intercept to date at the ~1100m elevation level in Vein Zone 1, since it expands the high-grade gold potential from a vertical perspective. At this time last year, we had identified roughly 300 metres of strike length; the 2019 drill results have increased that to 1,300 metres. We have built confidence in the continuity of this vein zone and subsequently have gone on to discover two additional high-grade gold veins (Vein Zones 2 and 3). The Company is well financed for the 2020 exploration program and a drill is currently at Shovelnose with several exploration targets ready to be tested commencing mid-February. Additional work is planned for this year across all four of Westhaven’s SBGB properties, including a drill program at the 100%-owned Skoonka prospect where 12.80 metres of 20.20 g/t Au was previously intersected. Every hole drilled in 2019 provided valuable information which we believe will help us discover additional zones of gold mineralization at Shovelnose as well as on the other three properties.”
Peter Fischl, Exploration Manager, stated: “Drilling late in 2019 continued to extend Vein Zone 1 to the southeast. The zone remains open along strike beyond hole SN19-45. Initial drilling in 2020 will follow-up to the southeast, stepping out from hole SN19-45. Target A lies proximal to the southeastern most drilled extent of Zone 1. Here an area of dark chalcedony veining and brecciation in rhyolite lies 0.5 kilometre to the east of the southeast end of the drilled extent of Zone 1 and will be targeted as well in this follow-up drilling. A re-evaluation of magnetics and resistivity geophysical signatures in combination with anomalous soil geochemistry has outlined a corridor extending south-southeast from Vein Zone 1 that may be prospective for additional veining and this will be targeted as well.”
Highlights for 2019:
Drilled 49 holes for 21,889 metres
Extended strike length of Vein Zone 1 to 1,300 metres
Discovered high-grade gold in 3 vein zones
Collected ~5,500 soil samples
7 new surface epithermal showings identified
195 prospecting rock grab samples collected
327-line kilometres of ground magnetic geophysics completed
30-line kilometres of DC Resistivity geophysical survey completed
Westhaven also herein provides a correction as to the aggregate number of units sold in its October 2019 financing. A total of 6,569,323 units were sold at $1.05 per unit for gross proceeds of $6,897,789.
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 micron. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
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.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director
About Westhaven:
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavenventures.com
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1d297fb-0fff-4bd8-a20a-352cf054edcc
https://www.globenewswire.com/NewsRoom/AttachmentNg/9518668e-0c30-417b-bd87-c87976bd88ae
https://www.globenewswire.com/NewsRoom/AttachmentNg/7ea1d6fb-783a-4985-9bff-e224461cad5d
https://www.globenewswire.com/NewsRoom/AttachmentNg/00259b3c-8425-4d9b-b15d-7fc4ecfff2cd
https://www.globenewswire.com/NewsRoom/AttachmentNg/5654ba8f-9321-449f-99a6-848ae282a246
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0b50c33-ed85-4fef-b2d5-35a0425a0e9c
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Plan Map
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Section 1250
Section 1100
Section 1100
Section 1050
Section 1050
Section 700
Section 700
High-Priority Drill Targets
High-Priority Drill Targets
ILI.v Infinite Adds High Grade VMS Resources in The Red Lake Mining District with The Acquisition of Fredart, Garnet Lake and Northern Vision Properties
by @accesswire on 4 Feb 2020, 05:01
VANCOUVER, BC / ACCESSWIRE / February 4, 2020 / Infinite Lithium Corp. ("ILI" or the "Company") (ILI-TSX:V) is pleased to announce the significant expansion of its property holdings in the Red Lake Mining District. The Company has entered into option agreements to acquire an 80% interest in the Fredart ("Fredart") and Garnet Lake ("Garnet Lake") properties from Pistol Bay Mining Inc., and an option agreement to acquire 100% of the Northern Vision property from an arms-length vendor (collectively the "Properties"). Each of the Properties have been explored in the past with various methods including diamond drilling which resulted in a high-grade polymetallic NI 43-101 compliant resource estimate along with a historic mineral resource estimate.
"Together with today's announced acquisitions and the Dixie Ten-Mile, Dixie 3, Ben Lake, and Eastern Vision properties, the Company has rapidly secured the most strategic and advanced VMS targets in the Confederation Lake Belt", states Mike England, President and CEO of Infinite Lithium. "Our holdings include a NI 43-101 compliant resource at the Arrow Zone on the Garnet Lake property, and two historical resources on the Fredart and Dixie Ten-Mile properties. All properties have excellent potential for expansion along strike at depth, and targets have been defined by the application of state-of-the-art geophysical technologies, and geological modelling."
The Fredart and Garnet Lake properties are located 70 kilometres east of the mining town of Red Lake, Ontario, and approximately 40 and 50 kilometers respectively from the eastern boundary of the Dixie Property being aggressively explored by Great Bear Resources Ltd. The Northern Vision property is contiguous with and east of the Company's recently acquired Dixie Ten-Mile property. All Properties have excellent access and logistics, from Red Lake or Ear Falls, with main access and logging roads.
Highlights include:
The Garnet Lake property consists of claims comprising 2,733 hectares, and hosts the Arrow Zone, interpreted as a volcanogenic massive sulphide (VMS) deposit, with 43-101 compliant inferred (polygonal method) mineral resources (Pistol Bay, September 5, 2017, SEDAR) of 2,100,000 million tonnes at 5.78% Zn, 0.72% Cu, 19.50 g/t Ag, and 0.60 g/t Au, (at a 3% Zn equivalent cut-off). The report concluded: "that the Arrow Zone…has good potential to discover new zones of VMS mineralization in the immediate area of the Arrow Zone, as well as the potential for additional deposits in the surrounding areas".
The Fredart Property comprises claims covering 2,620 hectares and hosts the Copperlode/Fredart zone, with a historical mineral resource of 386,200 tonnes grading 1.56% Cu and 33.6 g/t Ag. (completed by Phelps-Dodge Mining Co. in 1971 and included within a prospectus for Consolidated Copper Lode Developments Inc., January 7, 1977, submitted to the Ontario Securities Commission). Note, this historical resource estimate does not comply with the standards of National Instrument 43-101 and has not been reviewed by a qualified person, nor verified. Infinite Lithium is not treating the historical resource estimate as a current mineral resource or mineral reserve. The mineralized zone was drill tested to a depth of approximately 200 metres over a length of 350 metres and was reported as being open at depth.
Both the Garnet Lake and Fredart properties are covered by versatile time-domain electromagnetic (VTEM Plus) and flown by Geotech Ltd., in April 2017. Geotech's VTEM Plus system delivers more power into the ground and a better signal-to-noise ratio than previous VTEM systems, resulting in greater depth penetration and better conductor resolution, resulting in numerous high-priority conductive targets that warrant drilling. The September 5, 2017 43-101 reports indicates; "The Fredart "A" zone has the potential to develop a mineral resource with modern drilling and with modern EM surveying to guide the drilling."
The Northern Vision property, comprises 8 unpatented mining claims covering 2630 hectares and is contiguous to, and east of the Company's Ten-Mile property, and covers the interpreted stratigraphic eastern-extension of the Dixie 18 VMS target.
To earn a 80% interest in the Garnet Lake property from Pistol Bay Mining Inc., an arms-length party, Infinite will make cumulative payments of Cdn $300,000 cash, the issuance of 4,000,000 common shares of the Company and perform expenditures of $1,500,000 over a 3 year period. An underlying vendor retains a 2 % Net Smelter Royalty ("NSR").
To earn a 80% interest in the Fredart property from Pistol Bay Mining Inc., an arms-length party, Infinite will make cumulative payments of Cdn $150,000 cash, the issuance of 2,500,000 common shares of the Company over a two (2) year period and perform expenditures of $1,000,000 over a 3 year period. NSR's of 1-1.5% apply to claims within the Fredart property.
To earn a 100% interest in the Northern Vision property from an arm-length vendor, Infinite will make cumulative payments of Cdn $65,000 cash over a 3 year period, and issue 500,000 common shares of the Company over a one (1) year period.. The Company will grant a 1.5% NSR to the Vendor, half of which can be bought by the Company at any time for $500,000.
These transactions are subject to TSX Venture approval.
Mr. Kelly Malcolm, P.Geo (Ontario), is a qualified person as defined by National Instrument 43-101 and has examined and described the geological information available from public and internal sources related to the property and is responsible for reviewing and approving the technical contents of this press release.
The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regard to historical drill results and historical resources. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Infinite Lithium Corp.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. Our current focus is on properties with the potential for VMS mineralization in the Confederation Mineral Belt near Red Lake, Ontario, and the Jackpot Lithium property located near Nipigon, Ontario. Infinite Lithium also continues to evaluate suitable prospects that fit the mandate of the company. Please visit our website located at www.infinitelithium.com.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, President and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Lithium Corp.
View source version on accesswire.com:
https://www.accesswire.com/575134/Infinite-Adds-High-Grade-VMS-Resources-in-The-Red-Lake-Mining-District-with-The-Acquisition-of-Fredart-Garnet-Lake-and-Northern-Vision-Properties
SKYG.v moving nicely, last at 0.115 (+21.5%) on 166K volume,
cheers,
hsb
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SKYG.v Sky Gold Secures Strategic Land Package on Strike With New Found Gold's Newfoundland Queensway Project
V.SKYG | 1 hour ago
VANCOUVER, BC / ACCESSWIRE / January 31, 2020 / Sky Gold Corp. (TSX-V: SKYG) (US:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce the acquisition of the "Mustang Property", comprising two non-contiguous blocks of claims, in Central Newfoundland. The eastern claim block hosts the "Outflow Prospect", comprised of the Mustang and Piper mineralized zones, located adjacent to New Found Gold Corp. ("New Found Gold") who recently announced New Found Gold drill hole ("NFGC-19-01") on their Queensway Gold Project which intersected 92.86 g/t Au over 19.0 meters (see Mexican Gold Corp., Press Release dated January 26, 2020)*.
The eastern claim block is contiguous to New Found Gold's Queensway Gold Project and approximately 5 km from New Found Gold's discovery hole. The claims comprise approximately 420 ha on the western shore of Gander Lake. The western claim block comprises approximately 150 hectares and is located approximately 2.2 kilometers west-northwest of the eastern claims. The claim blocks are located approximately 6.5 km south-southeast of the village of Glenwood, with abandoned logging road accessing the area. Glenwood is located on the Trans-Canada Highway 25 kilometers west of an international airport in Gander.
Gold mineralization was discovered at the Outflow Prospect in 1987 by Noranda Exploration Company Limited, whom completed geologic mapping, trenching and shallow (average 84 m) diamond drilling (12 holes totaling 1007.6 m). In late 2001, Altius Minerals Corp. held the current claim area, with the Mustang zone anchoring a major NE-SW structural feature of prospective geology covered by a large property project known as the "Mustang Trend." Altius optioned the property to Barrick Gold Corporation who undertook reconnaissance exploration in 2002 which resulted in the discovery of several new gold showings, including the Road Breccia, Barite, Jasperoid, and Gervase's Lane showings. Exploration on the property was curtailed in late July 2003, when Barrick terminated their option.
Highest gold values, up to 28 grams per tonne gold (g/t Au) over 0.8 metres, occur in dark gray hydrobreccia units, associated with higher arsenopyrite concentrations. Selected diamond-drill assay results from Noranda's drill program include 1.27 g/t Au over 11.3 m, 0.67 g/t Au over 18.3 m and 0.92 g/t Au over 9.0 m.*
*Gold values on adjacent properties in similar rocks, and assays based on historical work, are not representative of the mineralization on the property, have not been verified, and should not be relied upon.
Two geologic models have been proposed for the gold mineralization at the Mustang Prospect. A low-sulphidation epithermal model is proposed, based on the silicified zones, locally in association with fault zones, and consist of chalcedonic silica in association with comb-textured and crustiform quartz and hydrothermal breccia. However, Altius Mineral Corp., considered the Mustang prospect as a possible example of Carlin-style mineralization (Altius Minerals Corporation, press release, August 21, 2003), supported by typical enriched trace-element assemblages (As, Sb, Tl, Hg, and Ba) of Carlin deposits, and barite veins, breccia matrix and stockwork hosted by calcareous sedimentary rocks.
President, Mike England states: "We are pleased to be acquiring the Mustang Property in an active, emerging gold district, led by the recent success of New Found Gold. At this point the Newfoundland claim staking system is making a transition therefore no staking is possible however we will be looking to add to our land position when it is back up and running."
Mr. England further commented "With multiple targets already known, and only limited, shallow drilling to date, we feel there is excellent potential for a significant gold discovery. Our technical team is well suited with expertise on both epithermal and Carlin-type gold mineralization. Data compilation has been initiated to define targets for drill permitting this summer."
To earn a 100-per-cent interest in the "Mustang Property" from an arms-length party, the Company will make a one-time payment of $100,000 cash, the issuance of 3.25 million common shares of the company and expend cumulative $425,000 over a 3 year period. The underlying vendor retains a 3 per-cent net smelter royalty (NSR), 50 per cent of which is purchasable by Sky Gold for $1.5 million at any time.
This transaction is subject to TSX Venture Exchange approval.
The Company further announces that it has arranged a non-brokered private placement of up to 4 million units ("Units") at a price of $0.08 per Unit for aggregate gross proceeds of $320,000.00 (the "Offering").
Each Unit will be comprised of one common share ("Share") and one-half transferable common share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one common Share for a 24-month period after the Closing Date at an exercise price of $0.15 per share.
Proceeds raised from the Offering will be used for general working capital.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
This offering is subject to TSX Venture Exchange acceptance.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Mustang property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO&DIRECTOR
FOR FURTHER INFORMATION PLEASE
CONTACT: Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/574788/Sky-Gold-Secures-Strategic-Land-Package-on-Strike-With-New-Found-Golds-Newfoundland-Queensway-Project
ACCESSWIRE
January 31, 2020 - 5:00 AM PST
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INDUSTRIAL METALS & MINERALS
$NEVDF Nevada Copper Corp Is Maintained at Outperform by National Bank
COPPER PRICES UP BIG! $NEVDF “Nevada Copper made the transition to producer in Q4 2019 and we have developed a clear, straightforward strategy for ramping up our Pumpkin Hollow underground project to full commercial production. Redpath is considered throughout the mining industry as the partner of choice for production ramp up and we are excited to be working with them during this important period of growth.” https://nevadacopper.com/news/nevada-copper-engages-leading-mining-contractor-redpath-for-ramp-up-to-full-commercial-production/
LBMA disconnects gold's price from metal's fundamentals says Paul Mylchreest:
By: Chris Powell, GATA
Published: Thursday, 30 January 2020
Dear Friend of GATA and Gold:
Our friend Paul Mylchreest, now an analyst for financial research firm Hardman & Co. in London, demolishes the London Bullion Market Association with an "open letter" released today, blaming the group's trading and reporting systems for suppressing the offtake of gold to about 5 percent of what it would be otherwise. These systems, Mylchreest suggests, benefit primarily the LBMA's major members, bullion banks that short the metal, as well as central banks.
LBMA operations, Mylchreest writes, contrive a price for gold credit and derivatives rather than for the metal itself, and as a result the nominal price of gold has been declining for years even as fundamental factors in favor of gold have been strengthening.
Mylchreest writes: "We believe that the reason the price of gold can defy fundamentals is due to structural trading practices in London. The LBMA estimates that 95 percent of trades are in unallocated gold contracts, which are 'gold credit,' not gold bullion, meaning that the London over-the-counter market has been almost entirely derivative-ized.
"This has virtually eliminated the need to deliver gold bullion.
"With only 5 percent of gold trades requiring metal delivery, demand for actual gold bullion is diluted by a factor of around 20. On the supply side, therefore, the number of short contracts can theoretically be expanded in an almost elastic fashion without commensurate bullion delivery risk.
"It's logical that diluting bullion demand by substituting it with gold credit, in combination with an elastic supply of this gold credit, will lead to a 'gold price' disconnected from bullion fundamentals.
"Consequently, the source of gold mining company revenue and value of investors' assets has been crowded out of price setting by the sheer volume of gold credit.
"Some will see this derivative-ization as creating an uneven 'playing field,' since it dramatically increases the capacity to sell/short unallocated gold. Commentators might conclude that the main beneficiaries are major banks/short sellers.
"We estimate that the aggregate loss in cash flow to gold mining companies worldwide from the fall in the gold price during October 2012 to December 2015 was more than $157.5 billion. Many mining executives and investors remain unaware of their plight. ..."
Mylchreest notes central bank participation in the LBMA's trading scheme. He continues: "After analyzing trading volumes, we conclude, that, at this time, for much of the typical trading day central banks might be heavily influencing London gold trading. This has been widely speculated in the past, but perhaps not the scale."
If gold credits and derivatives did not dominate the gold market in London, Mylchreest concludes, London could run out of real metal "in a matter of hours."
Mylchreest asks the LBMA to consider reforming itself.
"We would welcome being part of this debate and, in short, our recommendations for reform would include, but are not limited to, the following, with the goal of transitioning to accurate price discovery for gold bullion:
"-- The LBMA should be reformed from a trade body into an exchange.
"-- Regulation should cover the entire London trading day and have statutory backing.
"-- Level the playing field by removing the advantages to banks/short sellers by eliminating the convention of trading gold credit/derivatives in the form of unallocated gold.
"-- Volume and price of all trades should be reported shortly after execution.
"-- And vault data should be provided not later than one month in arrears."
Mylchreest appends to his open letter a report detailing the fundamental factors arguing for a substantial increase in the gold price.
His open letter is titled "Price Gold Bullion, Not Gold Credit" and it's posted at the Hardman & Co. internet site here:
https://www.hardmanandco.com/wp-content/uploads/2020/01/Gold-Hardman-Jan...
Of course investors should send the link to the executives of the gold-mining companies whose shares they own and ask for comment, as if most such executives don't already know all about the LBMA's racket and are too scared to complain about it. But with enough clamor the executives might learn how to spell "fiduciary responsibility."
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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