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SCOTTIE RESOURCES INTERCEPTS 8.78 G/T GOLD OVER 9.00 M AND 12.2 G/T OVER 3.47 M AT BLUEBERRY CONTACT ZONE
https://www.prnewswire.com/news-releases/scottie-resources-intercepts-8-78-gt-gold-over-9-00-m-and-12-2-gt-over-3-47-m-at-blueberry-contact-zone-302285696.html
News provided by Scottie Resources Corp. Oct 24, 2024, 07:30 ET
VANCOUVER, BC, Oct. 24, 2024 /PRNewswire/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8)
Surge Copper Intersects 412 metres grading 0.40% CuEq including ?54 metres grading 0.53% CuEq at the Berg Deposit
https://ca.finance.yahoo.com/news/surge-copper-intersects-412-metres-110000504.html
Surge Copper Corp.
Thu, October 24, 2024 at 4:00 a.m. PDT 9 min read
SRGXF
+10.00%
Vancouver, British Columbia, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2)
Thesis Gold Drills 8.00 Metres of 11.39 Grams per Tonne Gold Equivalent
https://www.newsfilecorp.com/release/227512
October 23, 2024 6:30 AM EDT | Source: Thesis Gold Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Thesis Gold Inc. (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF
Imperial Reports Production Update for 2024 Third Quarter
https://ca.finance.yahoo.com/news/imperial-reports-production-2024-third-210400757.html
Imperial Metals Corporation
Wed, October 23, 2024 at 2:04 p.m. PDT 3 min read
IPMLF
0.00%
VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (“Imperial”) (TSX:III
Cascadia Releases 2024 Exploration Results, with Multiple High-Grade Copper-Silver-Gold Discoveries in BC
https://www.newswire.ca/news-releases/cascadia-releases-2024-exploration-results-with-multiple-high-grade-copper-silver-gold-discoveries-in-bc-833666326.html
News provided by Cascadia Minerals Ltd. Oct 23, 2024, 08:00 ET
VANCOUVER, BC, Oct. 23, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF)
Kootenay Silver Expands Known Mineralization at Columba Project, Chihuahua, Mexico: Four Drill Holes Report Highs to 2,370 gpt Silver and 6.7% Lead-Zinc
https://www.newswire.ca/news-releases/expands-known-mineralization-at-columba-project-chihuahua-mexico-four-drill-holes-report-highs-to-2-370-gpt-silver-and-6-7-lead-zinc-866806402.html
News provided by Kootenay Silver Inc. Oct 24, 2024, 07:30 ET
VANCOUVER, BC, Oct. 24, 2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
Teuton Resources/American Crrek/Tudor Gold Announce Positive Metallurgical Testing Results for the Goldstorm Deposit, at Treaty Creek, Located in the Heart of the Golden Triangle, Northwestern British Columbia
https://www.newsfilecorp.com/release/227669
October 24, 2024 9:37 AM EDT | Source: Tudor Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2024) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (OTC Pink: TDRRF)
Northern Lights Acquires the Horetzky Copper Project Located in the Babine Porphyry Copper Belt
https://thenewswire.com/press-releases/1AdyFypJO-northern-lights-acquires-the-horetzky-copper-project-located-in-the-babine-porphyry-copper-belt.html
Vancouver, British Columbia – TheNewswire - October 24, 2024 - Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE: NLR, OTC: NLRCF) is pleased to announce it has entered into an option agreement with veteran prospector Bernie Kreft (“Kreft”) to acquire a 100% interest in the Horetzky Copper Project (“Horetzky” or the “Project”), located in the Babine porphyry copper belt (the “Transaction”).
Highlights
Located in the Babine porphyry copper belt which hosts the past producing Bell and Granisle copper-gold mines and several promising advanced stage copper-gold exploration targets including American Eagle’s Nak project, Amarc Resources’ Duke and Hearne Hill projects and the Morrison deposit of Pacific Booker Minerals. (see fig.1)
Geological similarities to other Babine porphyry copper belt targets include the presence of an Eocene-aged Babine plutonic suite intrusive and coeval dykes which have caused widespread hornfels and alteration within surrounding volcanics and sediments. Mineralization noted includes: chalcopyrite, molybdenite, bornite and chalcocite.
The Project is host to an approximate 3.0 km copper soil geochemical anomaly, with numerous samples having returned greater than 1,000 ppm copper, that is open for expansion to the southeast and to the southwest where it is associated with a strong positive magnetic anomaly. (see fig.2)
Although drilling by Hecla Mines in 1973 returned only moderately anomalous values of up to 4,370 ppm copper over 3 feet and 1,345 ppm copper over 35 feet, all holes encountered copper mineralization with the widespread phyllic and propylitic alteration noted within holes suggesting they were collared outside the grade shell of a typical porphyry system.
Although gold was not assayed for by the majority of historical programs, later work has partially identified an area of increased gold in soil anomalism with values ranging from 25 ppb to 440 ppb gold.
The Project is located approximately 95 kilometres northeast of the regional centre of Smithers. It consists of 10 tenures totalling 4,309 hectares and is partially road accessible with several active logging cuts located close to the copper soil geochemical anomaly.
Northern Lights, CEO, Jason Bahnsen commented “We were excited when the Horetzky opportunity presented itself, and after a period of due diligence we moved quickly to acquire the project. The Project’s presence in one of British Columbia’s premiere copper-gold districts, combined with a copper soil anomaly of significant size and tenor that remains open for expansion and is only partially tested, were major selling points to us. We also look forward to working with the vendor, Bernie Kreft, who has a strong track record of exploration and discovery, in the further advancement of this project.”
Click Image To View Full Size
Figure 1 – Location of the Horetzky Project within the Babin Porphyry Belt
Click Image To View Full Size
Figure 2 – Surface geochemistry on total magnetic intensity airborne magnetics.
Terms of the Transaction
The Company has the right to acquire a 100% interest in the Horetzky Project by paying $5,000 in cash, issuing 7,500,000 shares and completing $1,000,000 in exploration over 3 years. An additional $125,000 or 1,250,000 shares, at the option of Kreft, will be due within 30 days of Northern Lights publicly disclosing an inferred or greater category or categories of a mineral resource, in accordance with the CIM definitions of a minimum of 1,000,000 ounces of gold or gold equivalent. A further $125,000 or 1,250,000 shares, at the option of Kreft, will be due on the earlier of the Optionee completing 5,000 metres of drilling or October 15, 2028. The property is subject to a 2.5% NSR, 40% of which can be purchased for $2,000,000 at any time up to the commencement of commercial production. The agreement is subject to regulatory approval.
Historical Data
The sampling and drill results reported in this release are historical in nature. The Company has not conducted any independent review of the sampling, nor has it independently analyzed the results of the historical exploration work to verify the results. The Company considers these historical drill and sampling results relevant, as it will use this data to guide future exploration programs. The Company also considers the data reliable for these purposes, however, the Company’s future exploration work will include verification of the data through additional sampling and drilling.
Qualified Person Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For Further Information
2.Albert Timcke, Executive Chairman and President
3.Email: rtimcke@northernlightsresources.com
4.Tel: +1 604 608 6163
5. Jason Bahnsen, Chief Executive Officer
6.Email: Jason@northernlightsresources.com
7.Tel: +1 604 608 6163
9.About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company advancing two key projects: the 100% owned, Secret Pass Gold Project located in Arizona and the Caldera Copper Property in Nevada. Northern Lights also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevada owned by Reyna Silver Corp.
Northern Lights Resources trades under the ticker of “NLR” on the CSE and on the OTC under the ticker “NLRCF”. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. There is no assurance any further advances of funds from the Investor will be forthcoming. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Silicon Metals Announces Mobilization of Field Crew for Phase 1 Exploration at Its 100% Owned Ptarmigan Silica Project and the Engagement of RCMA Capital for Marketing Services
https://www.newsfilecorp.com/release/227392
October 22, 2024 5:00 AM EDT | Source: Silicon Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2024) - SILICON METALS CORP. (CSE: SI) ("Silicon Metals" or the "Company") is pleased to announce the Company has mobilized a field crew for Phase 1 exploration at its 100% owned Ptarmigan Silica Project located approximately 130km from Prince George, British Columbia, effective today.
The Ptarmigan Silica project is located within the Rocky Mountain Trench, on the western flank of the Rocky Mountains and is proximal to the Fraser River valley. The project lies approximately 130 km east of Prince George, B.C., and is transected by the Yellowhead Highway. Ptarmigan is comprised of two claims for a total area of 2280 hectares. The area is underlain predominantly by metasedimentary rocks of the Proterozoic to Lower Cambrian age Cariboo Group. Within the Cariboo Group, the Yanks Peak formation is mainly quartzite, and is the target horizon for this project.
The Phase 1 exploration program has now been planned which will include:
Detailed mapping
Detailed channel sampling
Potentially high resolution arial photo survey, and;
Preliminary metallurgical testing on initial samples recovered from the Phase 1 Work Program
Highlights from prior work which lead to Ptarmigan's recently filed 43-101:
Recent sampling (three samples) returned values of 98.68, 98.44 and 99.52% %SiO2
The target Yank Peaks quartzite outcrops are in a series of distinctive parallel ridges with approximately 20-30 meters of relief, and;
Multiple parallel ridges with a total known strike in excess of 12km's are present
The Phase 1 exploration Work Program will include the above noted plans with an intention of determining the continuity and extent of the surface expression of the silica bearing ridges which will be used to guide the next phases of exploration work leading to a drill program. Additionally, the initial metallurgical testing is intended to guide development of a beneficiation process for the silica to cost effectively enhance the material grade and remove deleterious elements suitable for sale to global markets.
Silicon Metals Corp's Chief Executive Officer and Director Morgan Good, commented: "We are thrilled to have boots on the ground so quickly after acquiring a 100% ownership of the Ptarmigan Silica Project. The Hardline Exploration team, along with the technical expertise and guidance of our internal QP and project vendors at Cronin Capital, provide an excellent first step of exploration efforts while the Company launches its ground efforts. We anticipate field crews on site for approximately 2 weeks and will update the market in due course with feedback and news as it is received."
The Company has engaged Hardline Exploration Corp. out of Smithers, British Columbia, to manage and run the field work for Phase 1 at Ptarmigan. Hardline provides geological expertise and project management for the mineral exploration industry. They focus on a variety of projects from early stage to brownfields exploration and offer a full scope of exploration services and project management to effectively explore different projects. Being headquartered out of Smithers, their team is very well situated to build the necessary field teams and other required consultants to manage work programs, particularly in central and northern British Columbia very efficiently.
Lastly, the Company also announces the engagement of RCMA Capital Inc. to provide marketing services pursuant to a consulting services agreement commencing on the date hereof for a period of three months. In consideration for the services provided, the Company will pay RCMA a cash fee of $2,000 per month. The services will include helping the Company develop a corporate marketing strategy, general marketing, and public relations advisory services, developing and distributing marketing materials, making introductions to RCMA's network of investor contacts, newsletter writers and other similar providers, as well as assisting with various other public relations and investor outreach efforts. The services provided will be facilitated by way of affiliate publishers and digital venues such as programmatic digital marketing, social media marketing, radio advertising, email marketing, influencer outreach and placement of marketing content on public websites.
RCMA and the Company deal at arm's length. RCMA's main contact is Mr. Colin Robson, his information is as follows: email: colin @Tman1018-513-4776; address: Suite #301 220 Brew Street, Port Moody, British Columbia, V3H 0H6. RCMA is focused on public company communications mainly with direct contact and outreach aimed at broker dealers, investment banks, high-net-worth investors and more.
Qualified Person and Technical Report
Jeremy Hanson, P. Geo., a Qualified Person as that term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the technical aspects of this news release. Mr. Hanson, P.Geo is independent of Silicon Metals Corp.
For further information on the Ptarmigan Silica project, please see the Company's technical report titled "Ptarmigan Silica Project Cariboo Mining Division NTS 093/H10 and 11 British Columbia, Canada NI 43-101 Technical Report" prepared on September 26, 2024 by Chris M. Healey, P. Geo Principal Geologist, Healex Consulting Ltd Engineers and Geoscientists British Columbia Member, which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided 100% right, title and interest in the Ptarmigan Silica Project located approximately 130km from Valemount, British Columbia, and currently has an Option to explore the Hedge Hog Project located 15km north of the town of Wells in the Caribou Mining Division of central British Columbia. Management and the board of directors of currently consists of Morgan Good (Chief Executive Officer and Director), Leighton Bocking (Director), Adrian Smith (director and Qualified Person) and Bennett Liu (Chief Financial Officer).
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Morgan Good"
Morgan Good
Chief Executive Officer and Director
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@siliconmetalscorp.com OR ir@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the work to be completed on the Company's Ptarmigan Silica Project by the field crew recently engaged by the Company, and the timing thereof; the Company's exploration plans with respect to the Ptarmigan Silica Project, and the timing thereof, including the composition of the Phase 1 Work Program; the expected information and results of such exploration work and how that information and those results will be used; how long field crews will be on site for; the fact that the Company will update the market in due course with feedback and news; the prospects of the Ptarmigan Silica Project; the services expected to be provided by Hardline Exploration Corp. and the anticipated results of that working relationship; the services expected to be provided by RCMA Capital Inc. and the compensation to be provided in connection therewith; and other forward looking information.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation: that the members of the field crew for Phase 1 exploration of the Ptarmigan will continue to be available for the entirety of the planned exploration work; that the Company's exploration plans and timelines with respect to the Ptarmigan Silica Project will remain unchanged; that the Company will achieve the expected results from the exploration work conducted; that the exploration work conducted will provide the useful information and will help guide the Company's future exploration plans; that the Company will receive all required regulatory approvals to carry out its business plans; that the Company's operations and ability to complete its exploration plans will not be adversely impacted by global events and changes in the global economy; that the engagement with Hardline Exploration Corp. will continue until the completion of the planned exploration work; that the engagement with Hardline Exploration Corp. will deliver the anticipated results; that the engagement with RCMA Capital Inc. will continue for a period of three months from the date hereof; that the Company will obtain any necessary regulatory approvals for such engagement, and that the engagement with RCMA Capital Inc. will deliver the anticipated results.
Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the Company's operations or the market in general could be adversely affected by possible future government legislation, politics and controls or by changes in applicable laws and regulations; public health crises could impact the Company's exploration plans with respect to the Ptarmigan Silica Project; unanticipated events that impact the Company's business and the ability of the Company to complete its exploration plans and maintain its working relationships with Hardline Exploration Corp. and RCMA Capital Inc.; the results of the planned exploration work may not be as anticipated and may not inform the Company's future plans as expected; the members of the field crew for Phase 1 of the exploration at the Ptarmigan Silica Project may not be available throughout the planned exploration work; Hardline Exploration Corp. or RCMA Capital Inc. may terminate their engagement with the Company early; the volatility of global capital markets; the failure to obtain the requisite regulatory approvals for the engagement of RCMA Capital Inc., as applicable; unanticipated costs; the failure to secure any required financing necessary to complete the planned exploration work and the contracts with Hardline Exploration Corp. and RCMA Capital Inc.; the failure to secure the necessary resources to complete the planned exploration work; the engagement with Hardline Exploration Corp. may not achieve the anticipated results; the engagement with RCMA may not continue for a period of three months from the date hereof; and the engagement with RCMA Capital Inc. may not achieve the anticipated results.
The forward-looking statements contained in this press release represent 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. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.
SOURCE: Silicon Metals Corp.
Endurance Provides Drilling Update At The Reliance Gold Project, BC; Second Drill Added - Eagle Zone Expands at Depth With 5.91 gpt gold over 3.0 m
https://www.newsfilecorp.com/release/227499
October 23, 2024 7:09 AM EDT | Source: Endurance Gold Corporation
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG
Grizzly Provides Update on the Acquisition of the Motherlode Crown Grants, Greenwood Precious - Battery Metals Project, BC
https://www.newsfilecorp.com/release/227407
October 22, 2024 9:00 AM EDT | Source: Grizzly Discoveries Inc.
Edmonton, Alberta--(Newsfile Corp. - October 22, 2024) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to provide an update on the acquisition of the Motherlode Crown Grants from First Majestic Silver Corp. ("First Majestic") and includes highlights of the recently compiled historical information for the Motherlode Crown Grants, located near the town of Greenwood, South-Central British Columbia (BC). The Motherlode Crown Grants host the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900's produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 and 2). The Motherlode Mine is reported to have produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962 (BC Minfile 082ESE034). The Motherlode mine is road accessible and is approximately 2.5 km (1.5 miles) northwest of the town of Greenwood (Figure 1).
Highlights
First Majestic to transfer Motherlode to Grizzly. First Majestic has completed the re-instatement of the Motherlode Crown Grant owner and wholly owned subsidiary Veris Gold Corp. and in concert with advice from the BC Ministry of Energy, Mines & Low Carbon Innovation has submitted a petition to re-vest the Crown Grants with the subsurface mineral rights back to Veris Gold, at which time once approved, will allow First Majestic to transfer the Crown Grants with the subsurface mineral rights to the Company.
Motherlode Historical MRE. A historical MRE1 constructed in 1967 by Allen Geological Engineering Ltd.2 after the last period of mining on behalf of two companies, Aabro Mining and Oils Ltd. and Cumberland Mining Ltd., is described as Drill Proven (Assured), Indicated and Inferred and totals 2.8 million tonnes with a grade of 1.6% Cu equivalent (CuEq3) (0.8% Cu, 1.06 g/t Au).
Additional Cu-Au Mineralization. In addition to the historical MREs, drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources (Veris Gold) intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the Motherlode pit in the vicinity of the historical underground workings (Figures 2 and 3).
Drillhole 96-8 encountered gold in almost every sample over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figures 3 and 4). The results include 2.5 g/t (0.073 ounces per ton [opt]) Au along with significant Cu over 4.88 m (16 ft) intersecting the Main Motherlode skarn at the bottom of the drillhole within altered Brooklyn limestone. The skarn mineralization is associated with a strong AeroTEM conductivity anomaly (Figure 2).
The hole was terminated prior to completion due to technical difficulties and concerns over intersecting the existing underground stopes. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
Figure 1: Land position and targets of interest for future exploration, Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/227407_d5be86a374d2daf6_002full.jpg
Figure 2: Motherlode Crown Grants, Historical Drilling and AeroTEM Survey Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/227407_d5be86a374d2daf6_003full.jpg
Brian Testo, President and CEO of Grizzly Discoveries, stated, "We are excited with the acquisition of the historical Motherlode Crown Grants and the potential battery metal and precious metal targets that they provide. We look forward to an aggressive 2024 drilling campaign at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines in our current 170,000+ acre holdings in the Greenwood District."
Figure 3: Motherlode Historical Drillhole ML96-8 Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/227407_d5be86a374d2daf6_004full.jpg
The Company currently has an active land use permit for drilling at the Motherlode area and has designed a confirmation and exploration core drilling program for the Motherlode and Sunset pit areas based upon a compilation of historical information. The planned program consists of approximately 2,000 m 13 core holes and is focused on targets beneath and along strike from the Motherlode Pit (Figure 4).
Additional planned drilling is being considered for the Greyhound Pit area once a geological and mineralization model have been completed for the Greyhound target.
Summary of the Motherlode Crown Grants and Purchase Terms
The Motherlode Crown Grants near the town of Greenwood, South-Central British Columbia (BC) consist of 13 Crown Grants covering a total of 300 acres (121.4 hectares) that all retain the subsurface mineral rights and date back to the late 1800's early 1900's when they were granted. The Crown Grants take precedence over normal mineral claims registered under the BC Mineral Titles Act. The Crown Grants cover a number of historical mines, including the Motherlode Mine. The Motherlode mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood (Figure 1).
Figure 4: Motherlode Mineralized Zone Orthogonal View and Proposed Drilling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/227407_d5be86a374d2daf6_005full.jpg
Grizzly will provide First Majestic 250,000 common shares of the Company upon successful transfer of the Crown Grants to the Company.
The Company will cover the costs to re-instate and transfer the Crown Grants from YGC Resources Ltd. (Veris Gold Corp.) a wholly owned sub of First Majestic to First Majestic and then to the Company.
On closing, the Company will grant First Majestic a 1% Net Smelter Return (NSR) Royalty on the Crown Grants that can be purchased by the Company at any time for $250,000.
The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M.Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
1The Motherlode and Greyhound Properties of Cumberland Mining Co. Ltd. N.P.L. Greenwood, BC by Allen Geological Engineering Ltd. September 27th, 1967.
2Various historical Mineral Resource Estimates (MREs) produced both prior to the last period of mining 1957 - 1962 (Report on Motherlode and Sunset Mine by Frances Fredericks, 1951) and after the last period of mining as part of a couple of historical economic studies have been recovered from the publicly available BC Property Files. This historical MRE was calculated prior to the implementation of the standards set forth in the current National Instrument (NI) 43-101 and current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards for MREs. Resource definitions, terminology and reporting standards have changed significantly since these series of reports. The estimates in these reports are all considered historical in nature, and a Qualified Person (QP) has not done sufficient work to evaluate these resources as current resources. For these resources to be updated as current resources, a QP would need to examine and analyze the existing drill core, validate and verify the existing data supporting the historical estimate, and perform a confirmatory site visit. Therefore, the company and the QP for this news release are treating this estimate as historical in nature, and are highlighting the estimate for the purpose of illustrating the potential extent of mineralization that may be present.
3CuEq is calculated utilizing 90% recovery for both Cu and Au, and prices of US$4/lb for Cu and US$2,000/oz for Au.
SOURCE: Grizzly Discoveries Inc.
TDG Gold Reports Progress and Strategic Review for Its Toodoggone Portfolio, B.C.
https://www.accesswire.com/934133/tdg-gold-reports-progress-and-strategic-review-for-its-toodoggone-portfolio-bc
Tuesday, 22 October 2024 07:00 AM
WHITE ROCK, BC / ACCESSWIRE / October 22, 2024 / TDG Gold Corp. (TSXV:TDG)
Golden Cariboo Terminates Drill Hole in Vein Zone Due to Proximity to Osisko Development Corporation's Mineral Claims
https://thenewswire.com/press-releases/1BjjF3EW5-golden-cariboo-terminates-drill-hole-in-vein-zone-due-to-proximity-to-osisko-development-corporation-s-mineral-claims.html
October 22, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces that drill hole QGQ24-17 has been terminated in a vein zone at a depth of 477.32 m (1566 ft), due to proximity to Osisko Development Corp.’s (TSXV:ODV) mineral claims. This is the first time this area has been drilled tested. Drill hole QGQ24-17 was drilled at an azimuth of 000 degrees and a dip of -45 degrees. See the map in Figure 1 for further details.
Golden Cariboo’s President and CEO, Frank Callaghan stated “We just kept hitting veining and alteration in this drill hole! The only thing that stopped us from drilling further was the claim boundary with Osisko Development Corp. Our team has seen similar styles of veining in this drill hole and the previous holes that we saw at Halo zone. These are exciting broad vein zones, now we’ve just got to see what the assays say.”
Click Image To View Full Size
Figure 1: Current map of drill holes at the Halo zone
The technical information in this news release has been reviewed by Dr. Sarah Palmer, P.Geo., a qualified person with respect to NI 43-101.
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen small-scale placer production since the mid 1860s.
For further information please contact:
GOLDEN CARIBOO RESOURCES LTD
“J. Frank Callaghan”
J. Frank Callaghan, President & CEO
Tel: 604-682-2928
VISIT OUR WEBSITE FOR MORE DETAILS
www.goldencariboo.com
LIKE AND FOLLOW
Instagram, Facebook, X (Twitter), LinkedIn
Neither the “CSE” Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements:
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. 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. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Ascot Provides an Update on Funding For Future Mine Development & Restart of Operations
https://ca.finance.yahoo.com/news/ascot-provides-funding-future-mine-115000421.html
Ascot Resources Ltd.
Mon, October 21, 2024 at 4:50 a.m. PDT 12 min read
AOTVF
+11.41%
Not for distribution to U.S. news wire services or dissemination in the United States.
VANCOUVER, British Columbia, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is pleased to announce a plan to raise approximately C$40 million in funding to advance the development of the Premier Northern Lights mine (“PNL”), restart the mill and restart the Big Missouri mine (“BM”) from the current state of temporary care & maintenance.
The Company has been in discussions with its main creditors, Sprott Private Resource Streaming and Royalty (B) Corp., Nebari Gold Fund 1, LP, Nebari Natural Resources Credit Fund II, LP and Nebari Collateral Agent LLC (collectively the “Secured Creditors”) who have entered into a non-binding indicative term sheet with the Company to provide up to US$11.25 million in new senior debt on the terms, and subject to the conditions, described in such term sheet, including those set out below (the “Debt Financing”). As part of the Debt Financing, the Secured Creditors would extend their existing waiver and forbearance conditions until May 31, 2025.
The Company has also entered into an agreement with a syndicate of agents co-led by Desjardins Capital Markets and BMO Capital Markets (collectively the “Agents”) in respect of a private placement, to be marketed on a best-efforts basis, of common shares of the Company (the “Common Shares”) at a price of C$0.16 per Common Share (the “Offer Price”) to raise a minimum of C$25,000,000 and up to a maximum of C$35,000,000 (the “Equity Financing”).
The Secured Creditors have indicated their commitment to provide the Debt Financing, subject to the satisfaction of certain conditions precedent, and certain of the Company’s major shareholders, including Ccori Apu S.A.C., have indicated their commitment to provide a significant portion of the equity capital. Together, the Company anticipates that the new debt and equity capital will enable management to execute their development plans.
The Debt Financing and the Equity Financing are cross conditional (as described below) and are subject to successful negotiation and execution of definitive agreements and receipt of regulatory approvals, including the necessary Toronto Stock Exchange (“TSX”) approvals and exemptions. The execution of definitive documentation in respect of the Debt Financing and the closing of the Equity Financing are expected to occur on or about November 18, 2024.
Derek White, Chief Executive Officer of Ascot commented: “This financing package will enable the Company to undertake the mine development activities necessary to advance PNL and BM in order to sustainably provide feed to the mill. While the timeframe and funding required to undertake this work has been challenging for the Company, recent actions were required to ensure sustainable feed for profitable mill operations. Ascot is focused on getting the operation back on track as we move to restarting gold production in Q2 of 2025.”
There is no certainty that: (i) the conditions of the Equity Financing or Debt Financing will be met, (ii) the Company will be able to otherwise raise the funds required, (iii) the necessary mine development work will be completed or (iv) the Company will be able to restart operations. Further, while the Company expects that operations will be sustained once restarted following development work, there is no certainty that this will be the case.
Debt Financing
The Debt Financing is expected to have the following terms and conditions, among others, with the final terms and conditions to be contained in the definitive documentation for the Debt Financing:
A minimum Equity Financing of C$25 million to be completed by Ascot
The Debt Financing shall be secured on a senior basis in priority to all other claims or obligations of the Company to the satisfaction of the Secured Creditors
The Debt Financing shall be documented through an amendment to the existing Cost Overrun facility (“COF”), which shall also include, among others, the following:
A Tranche 2 of US$11.25 million will be deposited in an escrow account and released in stages on satisfying certain key performance indicators and receipt of any regulatory approvals or court orders, to the extent required, to establish the seniority of Tranche 2. Tranche 2 will be subject to an OID and an arrangement fee
Interest on Tranche 2 shall accrue at a rate equal to 12% plus the three-month term SOFR reference rate administered by CME Group Benchmark Administration Limited (“SOFR”) with a SOFR floor of 3.5%
Interest on Tranche 1 shall be increased from 10.0% to 10.5% above SOFR
All interest and amortisation payments for Tranche 1 due under the COF from September 2024 until 31 May 2025 shall be deferred and capitalized as part of the outstanding principal of Tranche 1 (the “Tranche 1 Deferred Payments”)
Commencing on May 31, 2025, the Tranche 1 Deferred Payments shall be payable in 10 monthly instalments ending in Feb 2026, which payments shall be in addition to any regular interest payments being met
Interest due under Tranche 2 shall be capitalized and form part of the outstanding obligations under Tranche 2 until May 31, 2025, and no principal payments shall be due under Tranche 2 until May 31, 2025
All capitalized interest and deferred amortisation payments from Tranche 2 due under the COF from drawdown to May 31, 2025 to be paid in 13 monthly instalments from May 2025 to May 2026
Subject to TSX approval, an alignment fee equal to $1 million to be paid in Common Shares on draw down of funds at the Offer Price
Subject to TSX approval, amend the exercise price of certain existing warrants held by a Secured Creditor to a 20% premium to the Offer Price
The existing Convertible Debt facility (“CD”) to be amended as follows:
All interest payments payable during the period from September 2024 to May 2025 to be deferred and capitalized as part of the outstanding principal, consistent with the terms of the COF
All capitalised interest from the period September 2024 until May 31, 2025 to be payable quarterly over the following 4 quarters, from May 2025 to February 2026 (in addition to regular interest payments owing)
Subject to TSX approval, the conversion price to be amended to a 20% premium to the Offer Price, and the forced conversion option for Ascot to be removed
The CD continues to be promoted into the senior position upon repayment of the COF
The Debt Financing is conditional on certain condition precedent required by the Lenders, including the completion of the Equity Financing, successful negotiation and execution of definitive agreements and receipt of the necessary TSX approvals and exemptions.
Equity Financing
The Company has also entered into an agreement with the Agents in respect of a private placement, to be marketed on a best-efforts basis, of Common Shares at a price of C$0.16 per Common Share to raise a minimum of C$25,000,000 and up to a maximum of C$35,000,000.
Closing of the Equity Financing is conditional on: (i) the execution of all necessary definitive documentation in respect of the Debt Financing, (ii) the deposit of the proceeds of the Debt Financing into an escrow account and (iii) receipt of the necessary TSX approvals and exemptions. The Equity Financing is also conditional upon the Company not being required to obtain any shareholder approvals in respect of the Equity Financing (whether by way of exemption by the TSX or otherwise).
The net proceeds from the Equity Financing are expected to be used as outlined under the heading “Use of Funding”.
The Common Shares will be offered on a "best efforts" fully marketed agency basis to: (i) "accredited investors" resident in the Provinces and Territories of Canada by way of private placement in accordance with National Instrument 45-106 - Prospectus Exemptions; (ii) investors resident in the United States by way of private placement pursuant to the exemptions from the registration requirements of the United States Securities Act of 1933, as amended; and (iii) investors outside of Canada and the United States by way of private placement or on an equivalent basis in accordance with applicable laws, provided that such laws permit offers and sales of the Common Shares without any obligation on the part of the Company to prepare or file any registration statement, prospectus or other disclosure document and without triggering any disclosure obligations or submission to the jurisdiction on the part of the Company.
The Common Shares issued pursuant to the Equity Financing will be subject to a four month hold period in accordance with Canadian securities law. The securities offered 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 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 press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Use of Funding
Proceeds from the Equity Financing and Debt Financing are expected to be used to advance the mine development of the PNL mine by completing approximately 2,400 metres of mine development and advance this development to enable the Company to access and mine the Prew zone phase 1 including the required second egress to the mine. In addition, funds will be used to restart the mill and re-start the BM mine from its current state of temporary care and maintenance. The goal of the Company is to restart mill operations in Q2 2025 and restart the BM mine so that the mill can be sustainably fed with ore from both mines.
Operational Update
Since the Company’s press release dated September 6, 2024, the Company has been preparing the site for temporary care and maintenance and preparing the BM mine and PNL mill for winter. The Company has also been working on updating the mine planning for the development and future operations of PNL mine.
Qualified Person
John Kiernan, P.Eng., Chief Operating Officer of the Company is the Company’s Qualified Person (QP) as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
On behalf of the Board of Directors of Ascot Resources Ltd.
“Derek C. White”
President & CEO, Director
For further information contact:
Kristina Howe
VP, Communications khowe @BenK-1060 ext. 1019
About Ascot
Ascot is a Canadian mining company headquartered in Vancouver, British Columbia and its shares trade on the TSX under the ticker AOT and on the OTCQX under the ticker AOTVF. Ascot is the 100% owner of the Premier Gold Mine (“Premier”), which poured first gold in April 2024 and is located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia.
For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.ascotgold.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release about anticipated future events may constitute forward-looking information under Canadian securities laws ("forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeted", "outlook", "on track" and "intend" and statements that an event or result "may", "will", "should", "could", “would” or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements in respect of the terms and conditions of the Debt Financing or the Equity Financing, the ability to raise additional funds, the completion of the Debt Financing or the Equity Financing, the future performance, defaults and obligations of Ascot under agreements with the Secured Creditors; future waivers or forbearance agreements relating to such agreements, including any discussions with the Secured Creditors; the anticipated use of proceeds from the funding package and the ability of the Company to accomplish its business objectives and the intentions described herein; and future plans, development and operations of the Company. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks related to whether the Equity Financing and/or Debt Financing will be completed on the terms described or at all; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainty of estimates and projections relating to development, production, costs and expenses, and health, safety and environmental risks; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of Ascot’s properties and the issuance of required permits; the need to obtain additional financing to finance operations and uncertainty as to the availability and terms of future financing; the possibility of delay in future plans and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; the need for TSX approval, including pursuant to financial hardship exemptions, and other regulatory approvals and other risk factors as detailed from time to time in Ascot's filings with Canadian securities regulators, available on Ascot's profile on SEDAR+ at www.sedarplus.ca including the Annual Information Form of the Company dated March 25, 2024 in the section entitled "Risk Factors". Forward-looking statements are based on assumptions made with regard to: the estimated costs associated with the care and maintenance plans; the ability to maintain throughput and production levels at BM and PNL; the tax rate applicable to the Company; future commodity prices; the grade of mineral resources and mineral reserves; the ability of the Company to convert inferred mineral resources to other categories; the ability of the Company to reduce mining dilution; the ability to reduce capital costs; the ability of the Company to raise additional financing; compliance with the covenants in Ascot’s credit agreements; and exploration plans. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Ascot can give no assurance that such expectations will prove to be correct. Ascot does not undertake any obligation to update forward-looking statements, other than as required by applicable laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
American Eagle Extends High-Grade Near-Surface Mineralization with Multiple +1% Copper Equivalent Intercepts; Confirms Continuity of Mineralization >1km Along Trend
NAK's Near Surface South Zone Drill Highlights:
NAK24-28 intercepts 101 m of 1.11% Copper Equivalent (CuEq) from 47 m
within 144 m of 0.90% CuEq from surface
within 451 m of 0.43% CuEq from surface
NAK24-26 extends the gold-enriched zone northwest;
intercepts 50 m of 1.01% CuEq from surface
within 457 m of 0.39% CuEq from surface
NAK24-24 helps confirm continuity of mineralization 1.2 km south to north;
intercepts 906 m of 0.36% CuEq from surface
including 107 m of 0.65% CuEq from surface
https://www.newsfilecorp.com/release/227258
October 21, 2024 6:00 AM EDT | Source: American Eagle Gold Corp.
Toronto, Ontario--(Newsfile Corp. - October 21, 2024) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF)
Goldstorm Metals Completes Surface Sampling Expanding Numerous Precious and Base Metal Zones at Electrum and Crown Properties Within the Heart of the Golden Triangle of Northwest British Columbia
https://www.newsfilecorp.com/release/226894
October 17, 2024 7:00 AM EDT | Source: Goldstorm Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2024) - Goldstorm Metals Corp. (TSXV: GSTM) (FSE: B2U)
Bolt Metals Completes NI 43-101 Technical Report For Switchback Copper-Silver Property
https://thenewswire.com/press-releases/1AMqFqMQ2-bolt-metals-completes-ni-43-101-technical-report-for-switchback-copper-silver-property.html
Vancouver, B.C. – October 18, 2024 – TheNewswire – Bolt Metals Corp. (“Bolt” or the “Company”) (CSE: BOLT) (FRANKFURT: A3D8AK) (OTCQB: PCRCF)
Interra Increases Stars Property Land Packgage by 5,932 Hectares Through Staking
https://thenewswire.com/press-releases/1knDFNlGj-interra-increases-stars-property-land-packgage-by-5-932-hectares-through-staking.html
October 18, 2024 – TheNewswire - VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; OTCQB: IMIMF; FRA: 3MX) (“Interra” or the “Company”) is pleased to announce that it has acquired 5,932 hectares (“ha”) of prospective ground adjoining the Stars Property (Figure 1). On October 7th Interra announced that it had entered into a mineral claims purchase agreement with Aurwest Resources Corporation to acquire a 100% right, title, and interest in the Stars Property, an early-stage porphyry copper-molybdenum discovery, covering 3,761 ha in central British Columbia. The newly staked ground adds to the overall mineral potential and strategic value of the Stars Property, covering an additional mineral showing and prominent geophysical anomaly (Figure 2), as well as nearby road-accessible areas that may have new bedrock exposures due to logging activities. The combined Stars Project claims now cover 9,693 ha.
Brian Thurston, President & CEO of Interra, commented: “We are pleased to have more than doubled the size of the Stars Property by staking. Staking in British Columbia is the most economical way to acquire mineral tenures, in this case adding shareholder value at very minimal cost. With the expanded land package we see an increased exploration upside, with the inclusion of an additional copper mineral showing, geophysical anomaly and strategic ground accessible via logging roads.”
Details of new claims:
Seven mineral claims covering 5,932 ha of ground adjoining the Stars Property (Figure 1).
Includes the “Big Dipper” magnetic anomaly, which is interpreted to be a continuation of the magnetic anomaly that defines the Stars porphyry project (Figure 2).
Includes the GSC1971-13 copper showing (Figure 2; BC MinFile #093L181), comprising malachite and chalcocite in calcite veins within red vesicular volcanic rocks of the Hazelton Group.
Includes adjacent, road accessible, under-explored ground that may have bedrock exposures that could aid in understanding the context of the Stars porphyry mineral system or be affected by extensions of that mineral system.
Click Image To View Full Size
Click Image To View Full Size
The Big Dipper Anomaly
The Big Dipper magnetic anomaly is continuous with the high magnetic intensity zone that encircles the Stars porphyry Cu-Mo mineral system (Figure 2). The magnetic high extends approximately 3.1 km to the northeast of the previous property boundary and is now fully encompassed by mineral claims 100% owned by Interra Copper (pending completion of the Stars Property purchase agreement). Drilling at the Stars porphyry has delineated an approximately 1.8 X 1.0 km area that is underlain by a large altered and weakly mineralized intrusion, with local domains of higher-grade mineralization at the Tana Zone (e.g. 0.466% Cu over 195.07 m* in drill hole DD18SS004 from 23.47 m), and the Libra Zone (e.g. 0.153% Cu over 91.45 m* in drill hole DD18SS05 from 279.50 m). Both of these mineralized zones are located in areas characterized by low magnetic intensity, encircled by the broader magnetic high. Similar domains of lower magnetic intensity surrounded by high magnetic intensity that have never been tested by drilling are present within the Big Dipper anomaly (Figure 2).
* The true width of historical drill intersections referenced in this news release are not known. Historical drill data in this news release is derived from previous exploration activities conducted by other parties. While this data may provide insights into the mineralization potential on the property, it should not be relied upon as conclusive evidence of mineral potential or project viability.
Qualified Person
Tony Barresi, Ph.D., P.Geo., the Company’s technical advisor and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.
About Interra Copper Corp.
Interra Copper Corp. is focused on building shareholder value through the exploration and development of its two early-stage copper exploration assets located in British Columbia, Canada.
The Thane Project located in the Quesnel Terrane of Northern BC spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization. The Company has a joint-venture agreement with an earn-in option up to 80% on the RIP Project located in Stikine Terrane in a prolific belt of Late Cretaceous rocks (Bulkley plutonic suite), known for copper-molybdenum deposits. Interra has entered into a mineral claims purchase agreement with Aurwest Resources Corporation to acquire a 100% right, title, and interest in the Stars Property, an early-stage porphyry copper-molybdenum discovery, covering 3,761 hectares in central British Columbia, now expanded by staking to cover 9,693 ha.
Interra Copper’s leadership and advisory teams are comprised of senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Interra Copper is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which we operate. The Company's common shares are principally listed on the Canadian Stock Exchange under the symbol "IMCX". For more information on Interra Copper, please visit our website at www.interracoppercorp.com.
On behalf of the Board of Interra Copper Corp.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Katherine Pryde
Investor Relations
investors@interracoppercorp.com
Forward Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or” should” occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, relating to the timing for closing the Purchase Agreement, or that the Purchase Agreement will close at all, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Interra, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks that Aurwest shareholders will not approve the sale of the Property, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, 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. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Interra does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
Ximen Mining Drilling Update: Brett Epithermal Gold Project - Vernon BC
https://www.newsfilecorp.com/release/226704
October 16, 2024 9:00 AM EDT | Source: Ximen Mining Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 16, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") provides an update on hole 3 of its on-going drill program at the Brett epithermal gold project near Vernon in southern BC.
Drill at hole B24-03
To view an enhanced version of this graphic, please visit:
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Hole B24-03 has now been completed. This hole was designed to follow up on an interval from hole B04-12 that yielded 168.48 g/t Au from 148.9 to 150.2 m depth (see Figure 1).
Figure 1. Plan view of hole B24-03 (left) and cross-section (right). The purpose is to follow up on an interval from hole B04-12 that yielded 168.48 g/t Au from 148.9 to 150.2 m depth.
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Hole B24-03 intersected a clay-pyrite altered zone from 37.89 to 39.65m (1.76m) with 5% disseminated pyrite, which overlaps the contact of a porphyry dike intersected from 39.52-45.27m that contains amethystine quartz veinlets (porphyry dike is altered). In the footwall of the dike the hole passed into tuff to 85.14m, then back into mixed tuff, breccia and massive volcanic. A second porphyry dike was intersected from 127.51-136.26m that contains minor amethystine quartz veinlets, with a clay altered zone on its footwall contact from 135.82-136.26 (0.44m) with 2% pyrite. A third clay altered zone was intersected at 146.26-147.3 (1.04m) with 2% pyrite on the upper contact of another porphyry dike that was intersected from 144.73-148.45m. A fourth clay altered zone was intersected in the volcanic rock from 150.96-151.8 (0.84m) with 2% pyrite. Hole ended at 155m. The target zone correlates with the altered zone between 146.26 and 147.30 meters.
The Brett project (20,043 hectares) covers low-sulfidation epithermal-style gold mineralization hosted in Eocene Penticton Group volcanic rocks. Epithermal-style gold mineralization was discovered in 1983, and a 291 tonne surface bulk sample was shipped to the smelter at Trail, BC in the 1990's that averaged 27.74 grams per tonne gold and 63.7 grams per tonne silver (Brett 2017 NI 43-101 report). Multiple zones of mineralization occur over a two kilometer strike, including both bulk-mineable and bonanza high grade styles. Ximen conducted LiDAR and airborne magnetic surveys over parts of the Brett property in 2022. Interpretation, 3D modeling, and target refinement were then completed in preparation for the 2024 drilling program.
The overall objective of the drill program is to extend the Main Zone to the southeast and at depth, and to test for extensions to the New Discovery Zone (located east of the Main Zone).
Map of Mineralized Zones at the Brett Project
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Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations: 604-488-3900, ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen's two Gold projects, The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. 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 the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. 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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
SOURCE: Ximen Mining Corp.
Canadian Critical Minerals Generates USD$179,000 in Revenue from Bull River Mine
https://www.newsfilecorp.com/release/226824
October 16, 2024 1:10 PM EDT | Source: Canadian Critical Minerals Inc.
Calgary, Alberta--(Newsfile Corp. - October 16, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to report revenues for the Company from the sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine ("BRM") project near Cranbrook, BC. During the month of September 2024, the Company trucked 879 dry metric tonnes ("dmt") of sorted mineralized material to New Afton and the Company received a provisional payment of approximately USD$179,000 for the September 2024 shipments. The mineralized material sent to New Afton graded 2.89% Cu, 0.79 g/t Au and 23.4 g/t Ag.
The Company continued to crush and screen the surface stockpile using a larger crushing and screening plant throughout the month. As of October 5th, 2024, the contractor had completed crushing and screening of the remaining material from the original 180,000 tonne surface stockpile. To-date the Company has shipped approximately 4,000 tonnes of mineralized material to New Afton under the Ore Purchase Agreement ("OPA"). Currently the Company has approximately 80,000 tonnes of coarse material that is available for sorting through the Steinert KSS 100 ore sorter prior to shipping to New Afton. There are approximately 36,000 tonnes of rejects from the ore sorting process that are being stockpiled on surface as an initial feed for the BRM mill. Rejects continue to grade between 0.4% Cu and 1.0% Cu. Hence all rejects can be economically processed in future at the BRM once the Company has received permission to restart the mill. Additionally, the Company has stockpiled approximately 60,000 tonnes of fines material that is too fine to be sent to the sorter. Fine material is expected to grade at 1.39% copper, 0.29 g/t gold and 11 g/t silver representing the average run of mine material in the original surface stockpile. The cut off grade ("COG") for milling copper mineralized material at the BRM that is already on surface is 0.4% Cu. Hence both the rejects and fines have sufficiently high enough grade to provide an economic feed to the BRM mill in future. Should metal prices continue to improve, the Company may send a portion of the fines to New Afton to generate additional revenues in the near term.
Ian Berzins, President and CEO of CCMI commented, "Revenues from September 20024 are the second highest monthly total since we implemented the OPA in January 2024. We greatly appreciate the safe and efficient operation of the crushing and screening plant by Tyalta Industries Inc. during processing of the surface stockpile."
Qualified person
CCMI's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Gary Low P.Geo., who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.
About Canadian Critical Minerals Inc.
CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 30% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
SOURCE: Canadian Critical Minerals Inc.
Kootenay Resources Announces Airborne ZTEM Geophysical Survey at Moyie Anticline Property and Announces Private Placement
https://www.newswire.ca/news-releases/kootenay-resources-announces-airborne-ztem-geophysical-survey-at-moyie-anticline-property-and-announces-private-placement-806073294.html
News provided by Kootenay Resources Inc. Oct 17, 2024, 07:00 ET
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
VANCOUVER, BC, Oct. 17, 2024 /CNW/ - Kootenay Resources Inc. (TSXV: KTRI) (the "Company" or "Kootenay") is pleased to announce a helicopter-borne ZTEM geophysical survey at its flagship Moyie Anticline Property in southeastern British Columbia has commenced.
The survey was designed and implemented by Geotech Ltd. and is planned to cover 16,500 hectares at the large Moyie Anticline project (the "Moyie Anticline Project"), prospective for discovery of a large base metal +/- silver deposit.
The airborne geophysical survey is follow-up to refine and expand on very successful results from two previous Magnetotellurics ("MT") surveys and detailed surface limonite sampling that identified several targets with Tier One discovery potential. The purpose of the survey is to provide sufficient detail and resolution to assist in prioritizing drill targets on our quest to make a Tier One discovery.
The Moyie Anticline Project extends from just east of the historical St Eugene Mine (Teck) on the shores of Moyie Lake southward to the US border. The Company's exploration concept is to utilize new cutting-edge applications of old and new technologies to evaluate fertile, yet under-explored mineral belts with the potential to host giant "Tier One" metal deposits. The Moyie Anticline and Purcell Basin in general is a region long considered prospective for the discovery of large base metal deposits, evidenced by such deposits as the world-famous Sullivan deposit, to the north in Kimberley, BC.
Kootenay continues to develop and utilize its innovative limonite geochemical data program to complement MT targets and the property as a whole. The method employs hand-held XRF technology in analysing oxide coatings on fracture planes from rock samples. The resulting dataset provides a novel method for defining geochemical signatures and anomalies in areas where overlying rocks may otherwise mask or return zero values for pathfinder and indicator elements.
Additionally, the Company is pleased to announce that it intends to complete on a best-efforts basis, a non-brokered private placement (the "Private Placement") for aggregate gross proceeds of up to $200,000. The Private Placement will consist of a combination of non-flow-through and flow-through common shares.
Under the Private Placement, the Company will offer, non-flow-through common shares at a price of $0.075 per share and flow-through common shares at a price of $0.10 per share, raising aggregate combined gross proceeds of up to $200,000. Proceeds received from the Private Placement will be used for the development of the Company's Moyie Anticline Project, other resource properties (eligible for "Canadian exploration expenses, which are flow-through mining expenditures) and general working capital requirements.
The securities to be issued under the Private Placement will be offered by way of private placement in each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The Private Placement is anticipated to close on or before November 22, 2024 ("Closing") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. The common shares to be issued under the Private Placement will have a hold period of four months and one day from Closing.
In connection with the Private Placement, arms-length finders may receive a cash fee in respect to their subscribers equal to 6.0% of the gross proceeds.
The securities described herein 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 accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
Background
Kootenay Resources Inc explores for and advances early-stage mineral exploration properties with the potential to host Tier One, (large to very large) mineral resources. The company is exploring its flagship Moyie Anticline property in southern British Columbia and on its generative program including several promising gold-silver-copper properties in the Nechako plateau of central British Columbia. Kootenay welcomes partners for exploration projects and currently has two mineral properties under option to Thompson River Metals Company, a fully owned subsidiary of Centerra Gold Inc. and three early-stage exploration projects under option to fellow junior exploration company Rokmaster Inc.
Qualified Persons
The Kootenay technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf of Kootenay by Dale Brittliffe, P.Geo, V.P. Exploration for Kootenay, a Qualified Person.
About Kootenay Resources Inc.
KTRI is an exploration company actively engaged in the exploration and discovery mineral projects in British Columbia, Canada. The Company was formed as a spin-out of Kootenay Silver Inc in which prospective Canadian assets were transferred to Kootenay Resources Inc. The transaction was completed in October of 2021, Kootenay Silver currently holds 3.2 million common shares of Kootenay Resources.
On behalf of the board of directors of the Company:
James McDonald,
Director
No Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at October 16, 2024. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Kootenay 's expectations or any change in events, conditions or circumstances on which any such statement is based. More particularly, this news release contains statements concerning the anticipated Private Placement. Accordingly, there is a risk that the Private Placement will not be completely sold, or the Private Placement will be completed within the anticipated time or at all.
SOURCE Kootenay Resources Inc.
For additional information, please contact: James McDonald, Director at 403-880-6016; Raj Kang, Director at 604-601-5650
Moon River Moly Announces Results of Chemical and Mineralogical Analysis at the Davidson Molybdenum Project
https://www.newsfilecorp.com/release/226724
October 16, 2024 7:00 AM EDT | Source: Moon River Moly Ltd.
Toronto, Ontario--(Newsfile Corp. - October 16, 2024) - Moon River Moly Ltd. (TSXV: MOO)
Doubleview Announces First Drill Results of This Season
Highlights:
62.0m of 1.12% Cu, 0.79 g/t Au, and 23.9 g/t Sc (1.81 % CuEq*, not incl. Sc)
in 154.0m of 0.66% Cu, 0.46 g/t Au, and 24 g/t Sc (1.07% CuEq*, not incl. Sc)
https://www.newsfilecorp.com/release/226781
October 16, 2024 5:00 AM EDT | Source: Doubleview Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 16, 2024) - Doubleview (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4)
Brixton Metals Drills 8.00m of 11.37 g/t Gold including 2.00m of 44.43 g/t Gold all within 82.00m of 1.27 g/t Gold at its Trapper Target on the Thorn Project
https://ca.finance.yahoo.com/news/brixton-metals-drills-8-00m-113000910.html
Brixton Metals Corporation
Wed, October 16, 2024 at 4:30 a.m. PDT·8 min read
BBBXF
-3.07%
VANCOUVER, British Columbia, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF)
West Mining Enters Option Agreement for Mineral Claims Located in Northern British Columbia
https://www.accesswire.com/931311/west-mining-corp-enters-option-agreement-for-mineral-claims-located-in-northern-british-columbia
Tuesday, 15 October 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / October 15, 2024 / West Mining Corp. ("West" or the "Company") (CSE:WEST)(OTC PINK:WESMF)(FRA:1HL) is pleased to announce that it has entered into an option agreement (the "Option Agreement") dated as of October 15, 2024 with ESN Investment Corp. ("ESN" or the "Optionor") pursuant to which West has the option to earn a 100% interest in two mineral claims (the "Claims") located in Northern British Columbia which augment West's Spanish Mountain West and Junkers properties.
The Spanish Mountain West land addition is a mineral claim located in the central Quesnel Belt, approximately 70 kilometres northeast of Williams Lake. The new claim covers 412.93 hectares adjacent to the north and west of West's Spanish Mountain West Property, as well as adjacent to Spanish Mountain Gold Ltd.'s property. This new mineral claim extends to the eastern shore of Quesnel Lake and represents an increase of 45% in area to the adjacent claims of West's Spanish Mountain West Property. West's new Spanish Mountain claim occurs within the same prospective Cretaceous sedimentary strata that host the polymetallic copper, lead, gold, silver, and zinc showing at Cedar Creek, in contact with Triassic basalts 1 to 2 km north and east (MINFILE #093A 072).
The Junkers Property land addition comprises another mineral claim, this one located 200 kilometres southeast of Dease Lake in north central B.C. This new claim covers 1,372.49 hectares adjacent to the south of West's gold-copper Junkers Property, adding 65% in area to the property. The Junkers Property gold-copper exploration target occurs within Lower to Middle Jurassic marine sedimentary and volcanic rocks of the Hazelton Group (Junkers showing, B.C. MINFILE #094E 299). The new claim at Junkers starts only 150 m south of the Junkers gold-copper mineral showing, and extends another 4 kilometres further south, adding significant area to the exploration target.
West has commenced exploration of the Junkers and Spanish Mountain properties, beginning with multispectral satellite image analysis, which is being integrated with existing geophysical and sampling surveys to identify high potential gold, copper and silver targets for follow-up field investigation.
Nader Vatanchi, West Mining's Chief Executive Officer, said "Expanding our Spanish Mountain West and Junker properties provides a tremendous opportunity to West. With these additions, we are excited to have begun exploration of our properties, seeking to expand on our previous work done in 2021. We look forward to receiving and disclosing the results of our exploration program in due course."
Under the Option Agreement, West has the option to earn a 100% interest in the Claims by issuing an aggregate of 7,000,000 West common shares (each, a "Share") to ESN and its affiliates as follows: 4,750,000 Shares at a deemed price of $0.19 per Share as soon as reasonably practicable following execution of the Option Agreement; 1,125,000 Shares within six months of execution of the Option Agreement; and 1,125,000 Shares within one year of execution of the Option Agreement. Any Shares issued under the Option Agreement will be subject to a four month hold period in accordance with applicable securities laws. West intends to issue the initial 4,750,000 Shares on or about October 22, 2024.
On exercise of the option under the Option Agreement, West will grant to ESN a 1.0% net royalty interest on the Claims. West will have the right to buy back one half (1/2) of the royalty (leaving the Optionor with a 0.5% royalty) for a period of one year following the commencement of commercial production for $500,000.
West also announces that it has entered into an agreement with a creditor to settle $24,000 of debt by issuing an aggregate of 126,315 common shares of the Company at a deemed price of $0.19 per share. When issued, the shares will be subject to a four month hold period in accordance with the applicable securities laws.
Harrison Cookenboo, Ph.D., P.Geo., a "Qualified Person" for the purpose of National Instrument 43-101, has reviewed and approved the scientific and technical information included in this news release.
About West Mining Corp.
West Mining Corp. is a mineral exploration company acquiring and developing advanced and early-stage exploration projects. Its flagship project is its 100% owned, 9000-hectare prospective Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining Properties: Kena, Daylight and Athabasca. An independent NI43-101 mineral resource estimate for Kena in 2021 reported 561,900 oz Au indicated at a grade of 0.544 grams per tonne gold (g/t Au) and 2,773,100 oz Au inferred at a grade of 0.486 g/t Au in the Gold Mountain, Kena Gold, and Daylight Zones (Bird, 2021; www.sedarplus.ca). The Daylight property contains the historic past producing Daylight, Starlight, Victoria, Irene, and Great Eastern gold mines. Along trend to the north is the Athabasca Property, with the historic Athabasca Gold Mine. The Company also holds a 100% interest in its Spanish Mountain and Junker properties.
For additional information, please refer to the Company's public disclosure record available on SEDAR+ at www.sedarplus.com.
Contact Information
Nader Vatanchi
CEO
nadervatanchi@hotmail.com
778-881-4631
SOURCE: West Mining Corp.
Trailbreaker Initiates Multiple Geophysical Surveys at the Liberty Copper-Molybdenum Project, British Columbia
https://ca.finance.yahoo.com/news/trailbreaker-initiates-multiple-geophysical-surveys-114500371.html
Trailbreaker Resources Ltd.
Tue, October 15, 2024 at 4:45 a.m. PDT·4 min read
APRAF
0.00%
VANCOUVER, British Columbia, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the mobilization of geophysical crews from Geotech Ltd. and Simcoe Geoscience Ltd. (“Simcoe”) to conduct Z-axis Tipper Electromagnetic (ZTEM) and induced polarization (IP) surveys, respectively, at the Liberty copper (Cu) - molybdenum (Mo) project, in central British Columbia (BC).
The ZTEM survey is designed to provide property-wide resistivity and magnetic data up to a depth of 1,500 m. This will help define the geological, structural and alteration features of porphyry and skarn-style mineralization, of which previous grab samples assayed up to 23.71% Cu.
The IP survey is being conducted over the Cu-in-soil anomaly (see news release September 16, 2024) in order to define the extensions of historic chargeability and resistivity features that are coincident with Cu-Mo mineralization intersected during Trailbreaker’s 2,442 m drill program conducted earlier this year (see news release dated July 22, 2024). The survey will utilize Simcoe’s Alpha IP™ technology to survey up to 500+ m of depth, ensuring any deep sources of mineralization are detected.
Results and interpretation from both surveys are expected before the end of 2024.
Message from the President
“We are excited that these surveys have commenced at Liberty. The surveys extend deep below the overburden on the property. When these results are coupled with what we have learned from drilling, together with our property-wide geochemical survey and the high-grade Cu in rock samples, we expect it to produce a robust geological model to help vector and de-risk future drilling. This project is advancing quickly and in the right direction for a discovery.” Daithi Mac Gearailt
Figure 1: ZTEM survey equipment conducting calibration tests at the Liberty property, central BC
Figure 1: ZTEM survey equipment conducting calibration tests at the Liberty property, central BC
Liberty Property Description
The 6,895-hectare Liberty Property is located approximately 60 km northwest of Quesnel, BC. The property is fully accessible by resource roads.
Drilling at Liberty has encountered widespread Cu-Mo porphyry-style mineralization at the northeastern margin of a property-scale Cu-in-soil geochemical anomaly. Mineralization is coincident with an Induced Polarization (IP) chargeability feature. However, historic IP surveying covered only a small portion of the much larger geochemical anomaly. Highlights of drill results include:
LIB24-001 - 213.7 m of 0.16% CuEq from 248.3 m to the end of hole;
Including 13.5 m of 0.33% CuEq from 257.5 m;
And including 6.6 m of 0.67% CuEq from 300.9 m;
LIB24-003 - 194.3 m of 0.16% CuEq from 256.0 m,
including 34.2 m of 0.47% CuEq from 385.0 m,
and including 5.9 m of 2.02% CuEq from 410.2 m;
LIB24-004 - 226.0 m of 0.11% CuEq from 279.0 to the end of hole
Including 6.0 m of 0.45% CuEq from 431.0 m
And including 2.3 m of 0.36% CuEq from 500.0 m
Prospecting within the southwestern portion of the property-scale geochemical anomaly has defined an area of high-grade copper mineralization, with grab samples assaying up to 23.71% Cu.
For more information on this target see the Liberty Project webpage.
* Reported widths are drill width. Not enough geological information exists at this point to define true width. However, vein-hosted copper and molybdenum mineralization commonly occurs at high angles to core axis.
** Copper Equivalent formula used is:
CuEq = Cu grade in % + (Mo grade in % * (Mo recovery/Cu recovery) * (Mo price/lb*2200 lb) / (Cu price /lb*2200 lb) using copper price of US$3.75/lb and molybdenum price of US$25/lb. 100% metallurgical recoveries are assumed for both metals.
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6f59077-f456-44c8-93ae-96ef3da6ecab
Kodiak Extends High-Grade Adit Zone, Intersects 0.45% CuEq Over 139 m Near Surface
https://www.newsfilecorp.com/release/226433
October 15, 2024 6:00 AM EDT | Source: Kodiak Copper Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - Kodiak Copper Corp. (TSXV: KDK) (OTCQB: KDKCF) (FSE: 5DD1)
GSP Announces High Priority Drill Targets at Alwin Mine Copper-Silver-Gold Project
https://thenewswire.com/press-releases/1BNMFOXpz-gsp-announces-high-priority-drill-targets-at-alwin-mine-copper-silver-gold-project.html
News Release - Vancouver, British Columbia – TheNewswire - October 15, 2024: GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD) (the “Company” or “GSP”) announces that its recently completed exploration target block modelling exercise has yielded additional high priority drill targets at the Alwin Mine Copper-Silver-Gold Project (the “Alwin Property”).
The recently completed exploration targeting modelling and conceptual open pit and stope optimization exercise (see GSP Resource Corp. news release dated October 2, 2024) has resulted in new high priority drill targets proximal to the conceptual open pit shell. The targets have the potential to expand existing zones of previously poorly delineated high-grade copper mineralization (Figure 1).
The new drill targets are the first advancement of the Alwin Mine project with the results of GSP’s recently developed exploration model now in hand. The company is now able to prioritize expansion targets relative to their potential to be accretive to the modelled mineralization as constrained by the conceptual open pit shell. It is important to note that historic mining at Alwin focused on high-grade copper shear zones having width and grade characteristics sufficient to support relatively higher cost underground mining. The development of the conceptual open pit shell has now provided for the identification of a broader range of near-mine mineralization targets that had not been fully evaluated, historically.
The targeting exercise, which is still ongoing, has to date yielded over a dozen near surface exploration targets along strike and within the hangingwall and footwall of the Alwin copper-silver-gold shear system.
Highlights of New Alwin Mine Drill Targets:
Western strike extension, targeting historic drill hole S-81-6 that intersected thick overburden and an intensely clay-kaolin altered granodiorite fault zone over a 10-metre core interval along the western projection of the Alwin Mine trend (2 Zone and 6 Zone) for which no assays are recorded.
Eastern strike extension, targeting untested near surface projection of high-grade shear vein (4 Zone) historically exploited on multiple underground sublevels and intersected in historic drill hole 67-28 that returned assays 13.4 metres averaging 2.1% copper; including 6 metres of 3.8%1.
Southern footwall, targeting relatively untested in pit secondary shear veins (South 2 Zone) returning 2 metres averaging 4.4% copper in drill hole 68-45; and 1.8 metres averaging 3.2% copper in drill hole AM-21-02.
Northern hangingwall, targeting relatively untested in pit secondary shear veins (8 Zone)
Figure 1: Oblique View of Alwin Mine High Priority Drill Targets, Conceptual Pit Shell and Stope Modelling (blue), historic underground development (navy blue), and backfilled stopes (red)
Click Image To View Full Size
About the Alwin Mine Project
The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares and is located on the semi-arid, interior plateau in south-central British Columbia. The historic underground mine was developed over 500 m long by 200 m wide by 300 m deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totaling 233,100 tonnes that milled 3,786 tonnes of copper, 2,729 kilograms of silver and 46.2 kilograms of gold. The average diluted head grade was 1.5% copper.
The Alwin Property is adjacent with the western boundary of Teck Corporation’s Highland Valley Mine, the largest open-pit porphyry copper-molybdenum mine in western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extends westward from the Highland Valley mine onto the Alwin property (see GSP’s news release dated January 30, 2020).
Methodology and QA/QC
The analytical work reported on herein related to historic drilling was performed by the Bethlehem Copper Corporation Ltd. analytical laboratories, Ashcroft, BC. Analytical techniques and quality assurance/quality control (QA/QC) measures employed at the time are not known, however the Qualified Person has reviewed extensive original documentation held by GSP including copies of original drill logs, assay summary tables, underground drill sections, and original analytical certificates. All individual sources were in agreement. GSP Resource Corp. is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, a consultant to the Company and a “qualified person” as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin property.
About GSP Resource Corp.
GSP Resource Corp. is a mineral exploration & development company focused on projects located in Southwestern British Columbia. The Company has an option to acquire a 100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division, as well as an option to acquire 100% interest and title to the Olivine Mountain Property in the Similkameen Mining Division, of which it has granted an option to earn a 60% interest to a third party.
For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: +1 (604) 619-7469
Email: simon@gspresource.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.
Forward-Looking Information
This news release contains “forward-looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work, develop new drill targets at the Alwin Property, carrying out future exploration work on the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
1 True width estimated to be 60-80% of the drilled interval.
Golden Cariboo Intersects Visible Gold and Veining in Recent Drilling, Including Veining 150 m North of Known Mineralization; Completes MMI and Mapping Programs
https://thenewswire.com/press-releases/1AMqFq1ao-golden-cariboo-intersects-visible-gold-and-veining-in-recent-drilling-including-veining-150-m-north-of-known-mineralization-completes-mmi-and-mapping-programs.html
October 15, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces an update on current drilling in the Halo zone. Drill hole QGQ24-16 was completed at a depth of 362.10 m (1188 ft) and contains multiple examples of visible gold (see Figure 1). Drill hole QGQ24-17 is currently underway and at a depth of 343.21 m (1126 ft). Both drill holes have intersected extensive quartz-carbonate veining and alteration. Figure 2 shows an example of such in drill hole QGQ24-17. Both drill holes QGQ24-16 and QGQ24-17 are targeting extensions of mineralization in the newly discovered Halo zone. Drill hole QGQ24-16 was drilled at an azimuth of 315 degrees and a dip of -45 degrees, while QGQ24-17 is being drilled at an azimuth of 000 degrees and a dip of -45 degrees. See Figure 3 for a map with more details.
Additionally, the Company wishes to announce that they have completed a Mobile Metal Ion (“MMI”) soil sampling geochemistry program proximal to the Halo zone and North Hixon zone discoveries, as well as a field mapping program targeting the Halo zone, North Hixon zone, Main zone and beyond. The MMI soil sampling is effective at detecting pathfinder elements for gold mineralization through till cover, which will aid in future exploration. The field mapping identified potential structural controls on mineralization, kinematic history of the area and geometry of the system.
Golden Cariboo’s President and CEO Frank Callaghan stated: “We’ve only scratched the surface of this massive gold system. Through the excellent work of Dr. Palmer and the team we’ve increased our understanding of these structurally-controlled gold deposits on the property. Adding onto that, the MMI geochemistry results should help the technical team get a hint at what’s below the surface where there is till cover. Drilling continues to deliver examples of visible gold at the Halo zone and we anticipate continuing to deliver exceptional results. We’re seeing additional quartz veining and alteration within drill hole QGQ24-17 in unexplored territory.”
Click Image To View Full Size
Figure 1: Photo of a quartz-carbonate vein containing visible gold in Drill Hole QGQ24-16 at a depth of 46.66 m
Click Image To View Full Size
Figure 2: Photo of quartz-carbonate +/- pyrite veining and alteration observed in drill hole QGQ24-17 from a depth of 307.3 (1008.2 ft) to 319.2 m (1047.2 ft).
Click Image To View Full Size
Figure 3: Current map of drill holes at the Halo zone.
The technical information in this news release has been reviewed by Dr. Sarah Palmer, P.Geo., a qualified person with respect to NI 43-101.
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen small-scale placer production since the mid 1860s.
For further information please contact:
GOLDEN CARIBOO RESOURCES LTD
“J. Frank Callaghan”
J. Frank Callaghan, President & CEO
Tel: 604-682-2928
VISIT OUR WEBSITE FOR MORE DETAILS
www.goldencariboo.com
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Neither the “CSE” Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements:
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. 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. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Brixton Metals Drills 41.00m of 1.08 g/t Gold including 6.00m of 4.19 g/t Gold all within 254.00m of 0.48 g/t Gold at its Trapper Target on the Thorn Project
https://ca.finance.yahoo.com/news/brixton-metals-drills-41-00m-113000987.html
Brixton Metals Corporation
Thu, October 10, 2024 at 4:30 a.m. PDT·9 min read
BBBXF
-3.23%
VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBX
Ximen Mining Drilling Update: Brett Epithermal Gold Project - Vernon BC
https://www.newsfilecorp.com/release/226158
October 10, 2024 9:00 AM EDT | Source: Ximen Mining Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") provides an update on hole 2 of its current drill program at the Brett epithermal gold project near Vernon in southern BC.
Photos of drill at hole B24-02
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3028/226158_ximen_1.jpg
Hole B24-02 has now been drilled from the same site as hole 1 just north of the Bonanza Zone. It was designed to test down dip of an intercept in hole 04-06, reported as 11.35 grams per tonne over a core length of 1.3 meters, hosted by volcanic tuff containing amethyst-bearing quartz calcite veinlets (see Figure 1 below).
Hole B24-02 encountered alternating units of volcanic flow and volcanic breccia to 74.67 m, then bedded tuff to 115.3 m, followed by volcanic flow with minor intervals of volcanic breccia to the end of the hole at 190.5 m. No porphyry dike was intersected, indicating that the hole may have passed just east of or beneath the Main Zone.
Figure 1. Cross Section showing trace of B24-02 targeting below intercept in B04-06
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3028/226158_fig1.jpg
Several intensely clay-silica altered zones with abundant pyrite mineralization and fault gouge were intersected between 37.46 and 155.12 meters. The total length of these altered intervals is 18.34 meters, amounting to 16%. Abundant pyrite (10%) occurs from 115.3 to 116.4m and grey quartz fragments occur in the altered zone at 117.0 to 118.5 m. These altered zones are related to the Main Zone. Minor amethystine quartz occurs in the last meter of the hole in chlorite-epidote altered volcanic rock. This zone correlates with the target intercept in Hole B04-06.
The Brett project (20,043 hectares) covers low-sulfidation epithermal-style gold mineralization hosted in Eocene Penticton Group volcanic rocks. Epithermal-style gold mineralization was discovered in 1983, and a 291 tonne surface bulk sample was shipped to the smelter at Trail, BC in the 1990's that averaged 27.74 grams per tonne gold and 63.7 grams per tonne silver (Brett 2017 NI 43-101 report). Multiple zones of mineralization occur over a two kilometer strike, including both bulk-mineable and bonanza high grade styles. Ximen conducted LiDAR and airborne magnetic surveys over parts of the Brett property in 2022. Interpretation, 3D modeling and target refinement were then completed in preparation for the 2024 drilling program.
The overall objective of the drill program is to extend the Main Zone to the southeast and at depth, and to test for extensions to the New Discovery Zone (located east of the Main Zone).
Map of Mineralized Zones at the Brett Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3028/226158_ximen_map.jpg
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations: 604-488-3900, ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects, The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. 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 the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. 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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
SOURCE: Ximen Mining Corp.
NorthWest Copper Discovers New Mineralized Zone at the Lorraine-Top Cat Project
First Ever Drill Assays from the Road IP Target Return 104.7 metres at 0.13% Copper
https://ca.finance.yahoo.com/news/northwest-copper-discovers-mineralized-zone-110000916.html
NorthWest Copper Corp.
Thu, October 10, 2024 at 4:00 a.m. PDT·15 min read
NWCCF
0.00%
VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) i
Fidelity Options BC Porphyry Cu-Mo-Au and adjacent Polymetallic Prospects "Sunsets" Project
https://thenewswire.com/press-releases/1Bz4FbQOK-fidelity-options-bc-porphyry-cu-mo-au-and-adjacent-polymetallic-prospects-sunsets-project.html
Vancouver, BC – TheNewswire - October 11th, 2024 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC) (“Fidelity” or the “Company”) is pleased to announce that it has entered into an Option Agreement dated October 10, 2024 (the “Agreement”) with Standard Drilling & Engineering Ltd. (“Standard”) pursuant to which Standard has granted Fidelity the sole and exclusive right and option (the “Option”) to acquire a 50% interest, with a right to increase to 100%, in the El Toro East project (the “Project” or “Sunsets Project”) located in the Omineca Mining Division south of Smithers, British Columbia (“BC”). The Sunsets Project features numerous BC Minfile occurrences that reflect porphyry Cu-Mo-Au mineralization and numerous other mineralization styles.
Dean Pekeski, President of Fidelity, stated: “Our consistent search for copper-gold assets to supplement the Las Huaquillas porphyry-epithermal Cu-Au project in Peru has borne fruit. We are very pleased with the comprehensive land position aggregated around the multi-phase and spatially extensive mineralization developed around the very large quartz-monzonite Sunsets Stock. We will continue to synthesize the substantial historical data as we plan for the efficient definition of the Cu-Mo-Au-Ag and associated base metals resource potential at Sunsets. We are pleased to be working in BC and look forward to working with Standard and BC communities to advance the project through exploration and drilling.”
About the Sunsets Project (primarily summarized from a 2023 report by J. Pautler)
The Sunsets Project comprises 24 mineral claims totalling 10,317 Ha located in the Telkwa Range (Hazelton Mountains) east of the north-flowing Howson Creek drainage. The Project covers several areas of known mineralization (including some 29 BC Minfile occurrences - see LABELLED DIAMONDS, Figure 1) associated with and adjacent to / distal from the Bulkley plutonic suite Sunsets (quartz-monzonite porphyry) Stock. The Sunsets Stock hosts showings of Cu-Mo-Au-Ag over some 2 km by 3 km, to the northwest of which lie the Cu-Ag±Au polymetallic veins of the Hunter prospect. NE of the Sunsets Stock lie certain Hankin Basin prospect showings of stratiform and cross-fracture hosted Cu-Au-Ag mineralization in andesitic volcanics. Mineralization has also been identified south of the mapped Sunsets Stock comprising polymetallic veins in volcaniclastic and mafic intrusive units, comprising the Dominion Basin prospect.
Sunsets Stock: The 2 by 3 km sized Sunsets Stock and its surrounding hornfelsed pyrite gossan aureole reflect in a 2007 airborne magnetic survey outlining a classic porphyry style donut shaped magnetic low within the Stock, inferred as possible magnetite destruction by hydrothermal alteration. The Fog and Fly prospects represent two 200m diameter phyllic zones stratigraphically above potassic alteration and have been the focus of historical exploration. Favourable areas within the Stock lie within a >500 ppm Cu soil anomaly just west of the Fly showing and north towards Glacis Basin and within a >500 ppm Cu soil anomaly to the northwest of the Fog showing, which have not been followed up. No systematic sampling has been undertaken in Glacis Basin with no rock sampling within the west Fly copper soil anomaly. The northwest Fog copper soil anomaly would be amenable to IP geophysics to delineate drill targets. Prior sampling along the northern margin of the Stock at Glacis and Rainbow 1 (separated by about 2 km) returned showings of 0.57% Cu (and 0.002 and 0.06% Mo) in historical micro-veined porphyritic samples.
Hunter Basin (NNW of Sunsets): Fissure veins and fracture fillings hosted in andesitic pyroclastics, flows and epiclastics host chalcocite, tetrahedrite with lesser chalcopyrite to the north and pyrite, bornite, chalcopyrite and magnetite moving southward. Veins primarily trend northeast to easterly, dipping steeply southeast and commonly follow dykes, fractures and shear zones in the volcanic host rocks. The King, Rainbow and Colorado were small past producing mines, operating primarily between 1914 and 1941.
Figure 1: Property Concessions Map, showing BC MinFile Occurrences at and adjacent to the Sunsets Property
Click Image To View Full Size
Combined production from the King and Rainbow mines between 1914 and 1962 totalled 293.5 tonnes producing 8,533g Au, 294,905g Ag, and 44,357 kg copper. In 1914 38 tonnes of ore were shipped from the Colorado mine recovering 155,515g Ag and 2,722 kg Cu. A 2008 airborne electromagnetic survey delineated several northeast trending anomalies that suggest continuity to sulphide mineralization along the structures.
Hankin Basin (NE from Sunsets): Mineralization occurs in permeable stratiform horizons within andesite tuffs and in cross fractures, crosscutting rhyolite dykes and stockwork-breccia zones and has been traced for 5 km along strike and 2 km along a shallow dipping zone featuring numerous small adits. At Loring three mineralized horizons each up to 1.5m wide occur within a 20m wide zone with historical assays averaging 65.14 g/t Ag with 0.45 to 3.12% Cu and <0.25 g/t Au. The best mineralization encountered in more recent exploration to the north of the Loring showing was identified in the central portion between the Loring and Old Tom showings, at a prominent bend in Loring Creek (Hankin showing). More than half of the samples collected from this area, which was explored in 2015, returned greater than 0.1% to 3.6% Cu. A third of the samples returned greater than 20 to 89.1 g/t Ag and 20% of the samples carried greater than 0.3 to 3.4 g/t Au. Similar stratiform mineralization to the Loring showing is exposed at Crater Lake, 1 km west of central Loring Creek. The average assay from previous chip sampling across a 24.3m cliff section at Marmot, 500m southwest of Crater Lake, is 4.3% Cu and 109.71 g/t Ag.
Dominion Basin (S and SW of Sunsets): Mineralization dominantly comprises polymetallic quartz-sulphide veins and fracture fillings / disseminations, and is primarily hosted by mafic volcanic and epiclastic rocks. Sulphide minerals include chalcopyrite, pyrite, sphalerite, galena and bornite in N and NE trending veins radiating outboard of the Sunsets Stock. The 35ºW dipping Friendly quartz-carbonate-sulphide vein at Deny North showing yielded an average of 70.2 g/t Ag and 2.21 g/t Au along 8.5m of the vein in 1981, which is exposed for 15m in the Friendly Trench and sampling in 2008 returned 9.52 g/t Au, 180 g/t Ag, 1.68% Cu, 15.7% Zn and 0.95% Pb across 1.0m. There does not appear to have been extensive work in this area to trace the vein and additional veins are suggested by the discovery of gold-bearing quartz carbonate float in upper Hankin Basin, east of the Sunsets Stock (39.6 g/t Au, 300 ppm Ag, 7.3% Pb, 8.4% Zn, 0.31% Cu from 5 cm vein).
Additional narrow, high grade veins occur at the Sunset showing south of Sunsets Creek: one is 0.35m wide and trends 030º/60ºSE with reported values of 18.8% Cu, 946 g/t Ag and 1.03 g/t Au. The 2008 airborne geophysical survey identified two electromagnetic high anomalies, one coincident with a magnetic low, in the Denys Creek area, about 2 and 3.5 km south of the Sunset adit. The anomalies may be indicative of additional high sulphide veins outboard of the Sunsets Stock. Further HLEM electromagnetic geophysics could be used to trace the polymetallic quartz-sulphide vein development radiating from the Stock.
Acquisition Terms
Under the terms of the Agreement, Fidelity can acquire 100% of the Sunsets Project in two stages with each stage increasing the Company’s intertest by 50%. Fidelity can acquire an initial 50% stake by (i) paying Standard an aggregate of $300,000 ($25,000 on signing, $125,000 on completion of due diligence (November 15, 2024) and $150,000 on or by 10 October, 2025); and (ii) incurring $1,000,000 in Exploration Expenditures ($500,000 by September 30, 2025; and $500,000 by September 30, 2026); and (iii) issuing to Standard 5,000,000 shares of Fidelity by December 15, 2024.
Fidelity has until November 15th, 2024 to complete its due diligence review of the Sunsets Project.
Upon Fidelity earning the initial 50% interest, the parties will enter into a participating joint venture (“JV”) with respect to the Sunsets Project, with Fidelity as the initial operator of the JV. Under the JV Fidelity will have the right to earn Standard’s remaining interest in the JV by: (i) paying to Standard an aggregate of $300,000 ($150,000 within three (3) months of the notice to Standard to earn-in to 100% of the JV (the “Notice”); and $150,000 on or before fifteen (15) months after the Notice); and (ii) incurring $1,000,000 in Exploration Expenditures over the 24-month period after the Notice; and (iii) within 60 days of the Notice issuing to Standard $250,000 in shares of Fidelity (valued on the 20-day VWAP directly following the Notice).
Standard will retain a 2% net smelter return royalty (“NSR”) on the Sunsets Project and will be entitled to receive advance royalty payments under the NSR commencing two years after the first month after the JV has been formed (being $25,000 for the first two (2) years and $50,000 for each year thereafter). Fidelity can buy-down half of the NSR for $1,000,000 at any time prior to the commencement of commercial production; the remaining portion of the Royalty retained by Standard can be purchased by Fidelity during the ensuing three-year period for $4,000,000, less any monies previously paid by Fidelity toward the Royalty including advance Royalty payments.
The Agreement will be subject to regulatory approval, including acceptance by the TSX Venture Exchange, if required.
Corporate and Projects Update
Fidelity remains committed to advancing its exploration efforts at the Las Huaquillas Project in Peru by completing drill permitting, environmental studies, and opening access to underground workings against a rapidly improving political and social back drop in Peru. Fidelity aims to continue to progress Las Huaquillas and is continuing to work with Lions Bay on the companies’ shared Florina Greensand Project.
Mr. Dean Pekeski, Fidelity’s current CEO and President, will resign as CEO and Mr. Ian Graham will be appointed as Fidelity’s interim CEO effective immediately. Mr. Pekeski will remain with the Company as President and Director and will assist Mr. Graham in the management of the Company’s projects. Mr. Graham was formerly the CEO of Fidelity and is intimately aware of the Company’s projects. Messrs Graham and Pekeski have a history of collegial collaborations at Rio Tinto Exploration and Western Potash Corp.
NI 43-101 Disclosure
Jean Pautler, P.Geo. of JP Exploration Services Inc., Whitehorse, YK, a Qualified Person (“QP”) as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information set out in this news release. Dean Pekeski, P.Geo. and QP for Fidelity has reviewed and verified the contents of this news release and has approved the document for public release.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. has assembled a portfolio of high-quality mining assets in Peru and aims to delineate major deposits on these properties that could attract the interest of mid-tier and major mining companies. Fidelity has a portfolio of assets in Peru and is currently focused on progressing its most advanced project – Las Huaquillas. Fidelity also owns the Florina Greensands project, low chloride glauconite resource, a potential feedstock resource into the low-Chloride organic and strategic regional and global potassium fertilizer market in collaboration with Lions Bay. Fidelity is also looking to opportunistically expand its project portfolio with accretive acquisitions. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed, and sophisticated investors focused on building long-term value.
On behalf of the Board of Fidelity Minerals.
Ian Graham
Interim CEO and Director
Phone: 1-604-671-1353
Email: igraham@fidelityminerals.com
For more information, please visit the corporate website at http://www.fidelityminerals.com or contact:
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 NEWS RELEASE.
Disclaimer & Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements are statements that relate to future events or future financial performance. In some cases, you can identify forward-looking statements by the use of terminology such as “may”, “should”, “intend”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements speak only as of the date of this news release. This news release may also contain inferences to future oriented financial information (“FOFI”) within the meaning of applicable securities laws. The information in this news release has been prepared by our management to provide corporate context and to provide the reader with an outlook for our future activities and anticipated key milestones and may not be appropriate for other purposes. Forward-looking statements in this announcement include, (but are not limited to) advancing certain key project activities that could represent important milestones which the Company expects may represent material valuation catalysts, such as the expectation that through the assembling of a portfolio of high-quality mining assets in Peru and BC, the Company aims to delineate major deposits on these properties that could attract the interest of mid-tier and major mining companies. Further, forward-looking statements in this release include that Fidelity Minerals Corp. is also looking to opportunistically expand its project portfolio with accretive acquisitions.
There has not been sufficient drilling and/or sufficient previous exploration at Las Huaquillas upon which to base a mineral resource or mineral reserve estimate compliant to the standards of National Instrument 43-101. It should be noted that the historical resource related information outlined has been derived from: “NI 43-101 Technical Report on the Las Huaquillas Au, Ag, Cu Property, Cajamarca, Peru”, with an effective date of December 18, 2021, authored by Luc Pigeon, B.Sc., M. Sc., P. Geo, who is an independent and qualified person under National Instrument 43-101. The historical estimate is based upon Gariepy and Vachon (both registered in 1999) and the estimate was performed using the vertical longitudinal section method including seventeen mineralized intersections where a specific gravity of 2.8 g/cm3 and a cut-off grade of 1.0 g/t Au over a minimum width of 3 metres were applied. Gariepy & Vachon (1999) disclosed what they call a “geological resource” which is not a category accepted by prevailing disclosure standards, and at best corresponds to an Inferred Resource in today’s nomenclature. The work did not estimate the zinc, lead or copper contained within the Socavones zone. No more recent estimates or data is available to the issuer; at a minimum, several holes would need to be twinned, and certain historical intercepts re-assayed, to verify the historical estimate as a current mineral resource. For clarity, a qualified person has not done sufficient work to classify the historical estimate as a current mineral resources or mineral reserve, and the Company is not treating the historical estimate as a current mineral resource or mineral reserve.
The Sunsets Project is a mineral exploration project and has never been subject to sufficient work to determine any basis upon which a mineral resource or mineral reserve estimate compliant to the standards of National Instrument 43-101 could be based. The Company regards the historical data of which it is aware, and that is based upon a Technical Report prepared by Jean Pautler, P.Geo., of JP Exploration Services Inc., for the project vendor, Standard Drilling and Engineering Ltd., and entitled TECHNICAL REPORT on the EL TORO PROJECT, Telkwa, British Columbia, and is based largely upon historical assessment report work recorded in the BC Minfile records, as being of an indicative nature only, and in the opinion of the Company’s management provides sufficient justification for advancing the Agreement that is the principal subject of this news release.
Goliath Resources Concludes Successful 2024 Drill Season At New Bonanza High-Grade Gold Triangle, Deep Zone, Reduced Intrusive Related Gold (RIRG), and Treasure Island For A Total Of 38,125 Meters Drilled On Its Golddigger Property, Golden Triangle, B.C.
https://ca.finance.yahoo.com/news/goliath-resources-concludes-successful-2024-111000030.html
Goliath Resources Limited
Thu, October 10, 2024 at 4:10 a.m. PDT·
Northisle Announces North Island Project Indicated Resource Estimate Increased to 3.1 billion lbs Cu and 6.9 million ozs Au
https://ca.finance.yahoo.com/news/northisle-announces-north-island-project-105700948.html
Business Wire
Thu, October 10, 2024 at 3:57 a.m. PDT
Artemis Gold Provides Update on Progress at Blackwater Mine
https://www.newswire.ca/news-releases/artemis-gold-provides-update-on-progress-at-blackwater-mine-878716798.html
News provided by Artemis Gold Inc. Oct 10, 2024, 06:45 ET
TSXV: ARTG
VANCOUVER, BC, Oct. 10, 2024 /CNW/ - Artemis Gold Inc. (TSX-V: ARTG) ("Artemis Gold" or the "Company") provides an update on progress at the Blackwater Mine.
At September 30, 2024, overall construction of the Blackwater Mine was over 95% complete, the project is fully funded, and first gold pour is targeted for late Q4 2024.
Plant site (CNW Group/Artemis Gold Inc.)
Crushing circuit (CNW Group/Artemis Gold Inc.)
25 kV electrical substation and 225 kV transformer (CNW Group/Artemis Gold Inc.)
Tailings Storage Facility (TSF) (CNW Group/Artemis Gold Inc.)
Operations camp (CNW Group/Artemis Gold Inc.)
The 135-kilometre long 225kV transmission line between the Blackwater Mine and BC Hydro's Glenannan substation is complete and was successfully energized with renewable grid power on October 8, 2024.
Construction of the Tailings Storage Facility will be complete by the end of October 2024 in advance of commencement of ore commissioning of the plant. The initial mining fleet has been commissioned and pre-stripping of the mine, as well as the construction of haul roads, are well advanced, with first ore expected to be received to the run of mine ("ROM") pad over the course of the next month. In addition, Blackwater's operations camp is complete and has housed operational staff since late Q3 2024.
In order to accelerate the commissioning of the process facility to align with the other major construction milestones already achieved, the Company has taken responsibility for plant commissioning from the EPC contractor and will commence owner commissioning and remaining construction activity effective immediately.
During the past 17 months, the Blackwater Mine has experienced two separate wildfire events which halted construction at site for a total of approximately one and a half months during the most productive months of the build. This resulted in additional fixed overhead drag on the project, and the benefit of operating cash flows has been deferred by the period of productive construction days lost. Management also invested in certain schedule acceleration initiatives to offset the delays, which have added to the cost of construction.
Management has been working diligently on cost savings throughout its construction budget to minimize the impact of the cost drivers described above.
The Company is, however, updating its initial capital guidance to first gold pour from (previously) $730 million to $750 million to (updated) $780 million to $800 million (an increase of approximately 7%).
Initial capital guidance excludes other corporate cost variances including the impact of delayed first revenue on working capital, higher market interest rates on loan facilities, and other non-capital items, all of which are included in the Company's fully funded assessment.
The Company has executed an agreement with National Bank of Canada to provide additional stand-by debt funding of up to $65 million, plus up to $10 million in capitalized interest and fees, on a subordinated and unsecured basis. This funding is in addition to the Company's existing Project Loan Facility of $360 million plus capitalized interest of up to $25 million (the "PLF"), as well as a cost overrun facility of $40 million (the "COF") that was drawn in early October 2024. The stand-by facility is repayable within 12 months, most likely from a new corporate debt refinancing in 2025, but otherwise has the same commercial terms as the COF announced on March 1, 2023.
While the Company does not believe the full amount of the additional stand-by facility will be required, the facility provides additional flexibility for any further contingencies, including the contingencies and cash reserves required by the Company's lenders under the PLF.
Steven Dean, Chairman and CEO of Artemis Gold, stated: "I am proud of the fact the project team has managed to limit the impact of the wildfires, two force majeure events beyond management's control, to only a 7% increase in initial capital guidance. This is testament to the team's financial discipline and deep project development experience. The additional stand-by funding provided by one of the Company's existing relationship lenders provides us the financial flexibility to absorb the financial impact of these events, while managing project schedule targeting first gold pour in late Q4 2024 and ramp-up of operations beyond".
Video
Watch here for a short video of the transmission line being energized: https://youtu.be/zxjAHp0iG0M
Photos
About Artemis Gold
Artemis Gold is a well-financed, growth-oriented gold development company with a strong financial capacity aimed at creating shareholder value through the identification, acquisition, and development of gold properties in mining-friendly jurisdictions. The Company's current focus is the construction of the Blackwater Mine in central British Columbia approximately 160km southwest of Prince George and 450km northeast of Vancouver. The project is one of the largest capital investments in central British Columbia in over a decade. The first pour of gold and silver at Blackwater is targeted for late Q4 2024. Artemis Gold trades on the TSX-V under the symbol ARTG. For more information visit www.artemisgoldinc.com.
Qualified Person
Jeremy Langford, FAUSIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
On behalf of the Board of Directors
Steven Dean
Chairman and Chief Executive Officer
+1 604 558 1107
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 news release.
Cautionary Note Regarding Forward-looking Information
This press release contains certain forward-looking statements and forward-looking information as defined under applicable Canadian and U.S. securities laws. Statements contained in this press release that are not historical facts are forward-looking statements that involve known and unknown risks and uncertainties. Any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. In certain cases, forward-looking statements and information can be identified using forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "potential" or similar terminology. Forward-looking statements and information are made as of the date of this press release, and include, but are not limited to, statements regarding the potential of the Blackwater mine project; the jobs to be created in connection with the project; the contribution of the project to the economy; opinions of the Province of British Columbia regarding the project and the region; agreements and relationships with Indigenous partners; the future of mining in British Columbia; the plans of the Company with respect to the project, including construction, site preparation, clearing, consultation with indigenous groups, and other plans and expectations of the Company with respect to the project, including the duration or impact of the wildfire evacuation order.
These forward-looking statements represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance, which are based on information currently available to management, management's historical experience, perception of trends and current business conditions, expected future developments and other factors which management considers appropriate. Such forward-looking statements involve numerous risks and uncertainties, and actual results may vary. Important risks and other factors that may cause actual results to vary include, without limitation: risks related to the ability of the Company to accomplish its plans and objectives with respect to the development of the project within the expected timing or at all, the timing and receipt of certain required approvals, changes in commodity prices, changes in interest and currency exchange rates, risks inherent in exploration estimates and results, risks inherent in exploration and development activities, changes in development or mining plans due to changes in logistical, technical or other factors, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials, equipment or third party contractors, delays in the receipt of government approvals, industrial disturbances, job action, and unanticipated events related to heath, safety and environmental matters), changes in governmental regulation of mining operations, political risk, social unrest, changes in general economic conditions or conditions in the financial markets, and other risks related to the ability of the Company to proceed with its plans for the project and other risks set out in the Company's most recent MD&A, which is available on the Company's website at www.artemisgoldinc.com and on SEDAR+ at www.sedarplus.ca
In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, the assumptions that: (1) market fundamentals will result in sustained mineral demand and prices; (2) any necessary approvals and consents in connection with the development of the project will be obtained; (3) financing for the development, construction and continued operation of the project will continue to be available on terms suitable to the Company; (4) sustained commodity prices will continue to make the project economically viable; and (5) there will not be any unfavourable changes to the economic, political, permitting and legal climate in which the Company operates. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause the actual results or performance by the Company to differ materially from those expressed in or implied by any forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or the financial condition of the Company. Investors should therefore not place undue reliance on forward-looking statements. The Company is under no obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future events or otherwise, except as may be required under applicable securities laws.
SOURCE Artemis Gold Inc.
Investor Relations contact: Meg Brown, Vice President, Investor Relations, mbrown@artemisgoldinc.com, +1 778 899 0518; Media relations contact: media@artemisgoldinc.com
Evergold Awaits New Drill Assays from DEM Porphyry “Halo”, Identifies Likely Location of Intrusive Centre
https://ca.finance.yahoo.com/news/evergold-awaits-drill-assays-dem-110000545.html
Evergold Corp.
Wed, October 9, 2024 at 4:00 a.m. PDT·7 min read
EVGUF
0.00%
TORONTO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to report that a limited program of follow-up drilling to last season’s greenfield precious and strategic metals discovery at the road-accessible DEM porphyry prospect, located near Fort St. James in central B.C., has achieved encouraging new intersections of the DEM sulphide vein system within DEM Mountain, in what is now interpreted to be the alteration “halo” around a large intrusion anchoring the system and located downslope to the west, below and masked by thick glacial till (see Figures 1 to 5) – a situation potentially akin to management’s experience with the deep till-covered nature of the giant Saddle discovery for GT Gold some years ago. Drill core has been shipped to Penticton, B.C. for cutting and sampling, with laboratory assay results anticipated in November.
“As a raw new greenfield prospect first drill tested less than 12 months ago, we continue to make significant advances in our understanding of this large system of which we have only tested, with limited budget not adequate to the scale of the opportunity, a very small portion to date,” said Kevin Keough, President and CEO. “These advances include recognition of a large alteration halo, demonstration that this halo is mineralized with locally high grades encompassed by broad envelopes of a spectrum of high-value elements, and now perhaps most significantly, the location of what we believe may be the porphyry intrusion centering the system. We look forward to advancing the project further with the pending assays and our next exploratory steps, to include targeting the intrusive centre with its first-ever drilling.”
Discussion (see Figures 1 to 5 below)
Drilling to date at the DEM Prospect has focused only on that small part of the 4 km2 DEM prospect area underlying the topographic and (overall) magnetic highs of DEM Mountain. DEM Mountain is surrounded by the generally much lower elevations of the DEM Lowlands (see DEM Mountain fly-over video on home page at www.evergoldcorp.ca) which include several low-relief knolls trending off from DEM Mountain to the west, coincident with a roughly donut-shaped arc of underlying magnetically positive anomalies. DEM Mountain and these knolls are now interpreted to be part of the topographically higher elevation, relatively well exposed hornfelsed and (generally) magnetically positive alteration halo around a topographically lower and glacial till-covered intrusive centre underlying the DEM Lowlands, identified by its large magnetic low signature, and also exhibiting high IP chargeability and low resistivity.
During the recent program two holes were drilled from two pads located high on DEM Mountain, for a total of 756 metres. Hole DEM24-04 was drilled due west at minus 50 degrees from the first pad, and DEM24-05 was drilled due south at minus 65 degrees from a second pad on the same section 68000N. Both holes were designed to further test a north-south geochemical and geophysical trend within the DEM Mountain part of the larger DEM prospect alteration halo comprised of a local magnetic low anomaly (see Figure 1) with associated induced polarization (“IP”) and controlled-source audio-frequency magneto-telluric (“CSAMT”) low resistivity anomalies and high IP chargeability anomalies, first drilled late in 2023. In common with results of last season’s reconnaissance drill program, each of the two holes intercepted sedimentary rocks cut locally by porphyritic dykes, with the host rocks infused to varying degrees by cross-cutting sulphide-bearing veinlets and veins, locally of semi-massive to massive character, along with associated disseminated sulphides. Assays are pending.
Recent extension, in September, of IP coverage to the west, north and south of previous lines, effectively covering the large magnetic low downslope to the west of drilling to date, has enabled recognition of the likely intrusive centre, which is now known to bear similar geophysical characteristics to the local magnetic low drilled successfully to date on DEM Mountain.
About the DEM Project
The 12,728-hectare DEM property is ideally located in moderate terrain only 40 kms northwest of Fort St. James in central B.C.. The project area lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel terrane, the latter of which hosts large deposits and long-life mines including the Mount Milligan mine (50 kms to the northeast of DEM) and Lorraine deposit and, farther south, the Mt. Polley, Afton, Copper Mountain, and Brenda mines, in addition to the Highland Valley mines and deposits.
Located central to the DEM property is the DEM1 prospect, a roughly 4km2 target area defined by alteration and mineralogy suggestive of the presence of a porphyry system, by a multi-element soil geochemical signature, by compelling high-relief magnetic, IP-chargeability and CSAMT resistivity anomalies, and by the presence of nearby regional scale structures. Extensive logging in the area and associated forest service roads provide drive-on access directly to the DEM1 prospect.
A reconnaissance drill program (3 holes for 947 metres) carried out in October and November 2023 returned narrow intercepts of high-grade gold, silver and strategic metals (molybdenum, cobalt, tungsten, tellurium, rhenium) encompassed by a broad low-grade envelope, localized to a magnetic low within the high elevations of DEM Mountain (see news, January 15, 2024). Each of the three holes intercepted variably calcareous fine-grained sedimentary rocks cut locally by metre-scale porphyritic dykes, with the host rocks, and locally the dykes, strongly infused over core lengths of up to 50 metres by cross-cutting sulphide-bearing veinlets and veins, locally of semi-massive to massive character, along with associated disseminated sulphides. These intervals were also encompassed by broader halos of lower-intensity disseminated and sulphide-bearing veinlets and veins. Sulphide minerals observed in core included abundant disseminated and vein-hosted arsenopyrite, pyrite, and pyrrhotite, with lesser but significant sphalerite, galena, chalcopyrite, and molybdenite. Sulphosalts were also commonly observed.
Further details on the DEM prospect may be found on the Company’s website at www.evergoldcorp.ca/projects/dem-property/ and in a NI 43-101 technical report dated August 30, 2023, posted thereon and on the Company’s issuer profile at SEDAR+.
Quality Assurance and Quality Control
Charles J. Greig, M.Sc., P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
Figure 1 - DEM prospect showing the interpreted location of the intrusive centre, its encompassing alteration halo, and the location of drilling to date on the first vertical derivative magnetics
Figure 1 - DEM prospect on first vertical derivative magnetics
Figure 2 - DEM prospect showing the interpreted location of the intrusive centre, its encompassing alteration halo, and the location of drilling to date on the total magnetic intensity
Figure 2 - DEM prospect on total magnetic intensity
Figure 3 - DEM prospect plan view of terrain showing the interpreted location of the intrusive centre, its encompassing alteration halo, and drilling to date on the heights of DEM Mountain
Figure 3 - DEM prospect plan view of terrain
Figure 4 - DEM prospect perspective view of terrain looking north, showing the interpreted location of the intrusive centre, its encompassing alteration halo, and drilling to date on the heights of DEM Mountain
Figure 4 - DEM prospect perspective view of terrain
Figure 5 - DEM prospect schematic section view looking north, showing the interpreted location of the central intrusion, its encompassing alteration halo, and the location of drilling to date on the heights of DEM Mountain
Figure 5 - DEM prospect schematic section view
About Evergold
Evergold Corp. is a TSX-V listed mineral exploration company with projects in B.C. and Nevada. The Evergold team has a track record of success in the junior mining space, most recently the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle South epithermal vein and Saddle North porphyry copper-gold deposits near Iskut B.C., sold to Newmont in 2021 for a fully diluted value of $456 million, representing a 1,136% (12.4 X) return on exploration outlays of $36.9 million.
For additional information, please contact:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
kevin.keough@evergoldcorp.ca
www.evergoldcorp.ca
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 news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Infographics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e79df28a-ae05-4341-8187-2f2f95d3bbb8
https://www.globenewswire.com/NewsRoom/AttachmentNg/04ef5ff2-97e1-4e83-8c60-867f0db0adb3
https://www.globenewswire.com/NewsRoom/AttachmentNg/584a2906-7023-47c4-98d9-2c5aa35c825b
https://www.globenewswire.com/NewsRoom/AttachmentNg/51ae23e9-b20b-4cfd-a94b-675e84bec48c
https://www.globenewswire.com/NewsRoom/AttachmentNg/243095c4-dd28-4544-b87e-e2531714c6ed
Bolt Metals Acquires Switchback Copper-Silver Property
https://thenewswire.com/press-releases/1BNMFOg6P-bolt-metals-acquires-switchback-copper-silver-property.html
Vancouver, B.C. – October 8, 2024 – TheNewswire – Bolt Metals Corp. (“Bolt” or the “Company”) (CSE: BOLT) (FRANKFURT: A2QEUB) (OTCQB: PCRCF) is pleased to announce that further to its press releases on September 19, 2024 and October 3, 2024, it has closed the previously announced transaction which provides for the acquisition by the Company by 1436060 B.C. Ltd. (“143 BC”) which holds a beneficial interest in the Switchback Copper-Silver property (the “Property”), located in the Omineca Mining Division of British Columbia, from the shareholders of 143 BC (the “Transaction”).
The Switchback Copper-Silver Property is an exploration stage property located 55 kilometres east of Terrace, British Columbia, via forest service roads. The Property consists of eight contiguous mineral claims totalling 2,560 hectares and is prospective for volcanic redbed copper and polymetallic Cu - Ag – Pb – Zn deposits.
Under the terms of the Definitive Agreement, the Company issued an aggregate of 4,000,000 common shares in the Company (the “Consideration Shares”) to the shareholders of 143 BC pro rata to their respective shareholdings in 143 BC. The Company also made a cash payment of CAD$20,000 to 143 BC. The Transaction is arm's length and there are no finder's fees payable in connection therewith. The Consideration Shares issued pursuant to the Transaction are subject to a 6-month voluntary lock-up period, whereby the recipients of the Consideration Shares are restricted from trading the Consideration Shares (the “Initial Lockup Period”). Following the Initial Lockup Period, the Consideration Shares will be released at a rate of 20% per month.
The Company would also like correct the press release Dated October 3, 2024, wherein the Company stated, due to clerical error, that the definitive agreement relating to the Transaction (the “Definitive Agreement”) was executed on September 30, 2024. The Definitive Agreement was executed on October 2, 2024.
Qualified Person
Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
Bolt Metals Corp.
Branden Haynes – Director and CEO
(604) 817-1595
info@boltmetals.com
Reader Advisory
This news release may contain statements which constitute “forward-looking information”. The words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
The Canadian Securities Exchange has not approved or disapproved this news release.
Troy Minerals Initiates Field Program at Table Mountain Silica Project
https://thenewswire.com/press-releases/1kVGFZ13X-troy-minerals-initiates-field-program-at-table-mountain-silica-project.html
October 8, 2024 – TheNewswire - Vancouver, B.C. - Troy Minerals Inc. (“Troy” or the “Company”) (CSE: TROY; OTCQB: TROYF; FSE: VJ3) is pleased to announce the commencement of a comprehensive field reconnaissance, mapping, and geochemical sampling program at its Table Mountain Silica Project near Golden, British Columbia.
Highlights:
Field program to include detailed geological mapping and systematic geochemical sampling.
Work aims to further define high-grade silica zones identified in historical exploration.
Results will guide future drilling and resource delineation efforts.
The field program is designed to build upon historical exploration data and further refine the Company's understanding of the high-grade silica mineralization at the Table Mountain Project. The work will focus on areas of known silica occurrences and explore additional targets.
"We are excited to begin this important phase of work at Table Mountain," said Rana Vig, President & CEO of Troy Minerals. "This field program represents a crucial step in advancing our understanding of the project's potential and will provide valuable data to guide our future exploration efforts."
The Table Mountain Silica Project, located approximately 4 kilometers east of Golden, BC, covers an area of 1,698 hectares. Historical exploration has indicated the presence of high-purity silica, with grab samples grading up to 99.74% SiO2. (1)(2) *
Field work is expected to continue for approximately 5 weeks, with initial results anticipated following the completion of the program. The Company will provide updates as significant findings emerge from the program.
Qualified Person
Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a “Qualified Person” as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Table Mountain Project vendor.
Sources
(1)https://apps.nrs.gov.bc.ca/pub/aris/Report/37402.pdf/
(2)Troy News Release dated June 10, 2024: “Troy Minerals Enters into Binding Letter of Intent to Acquire CBGB Ventures Corp.”
* Cautionary Note
The reader is cautioned that grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.
ON BEHALF OF THE BOARD,
Rana Vig | President and Director Telephone: 604-218-4766
Email: rana@ranavig.com
Forward-Looking Statements
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Troy Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of commodity prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
VIZSLA COPPER IDENTIFIES STRONG COPPER-IN-SOIL ANOMALY AT POPLAR SOUTH
https://www.newswire.ca/news-releases/vizsla-copper-identifies-strong-copper-in-soil-anomaly-at-poplar-south-807148810.html
Vizsla Copper Corp. Oct 08, 2024, 08:00 ET
VANCOUVER, BC, Oct. 8, 2024 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0)
Nova Pacific Metals Announces Engagement of Mineit and Sacré-Davey for Lara Property
https://www.newsfilecorp.com/release/225759
October 07, 2024 8:30 AM EDT | Source: Nova Pacific Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce the engagement of Mineit Consulting Inc. ("Mineit") in collaboration with Sacré-Davey Engineering Inc. ("Sacré-Davey"), to conduct a comprehensive analysis of the Company's Lara polymetallic volcanogenic massive sulfide ("VMS") property (the "Lara Project").
Key Highlights:
Mineit and Sacré-Davey will perform a mineral resource gap analysis and provide exploration program recommendations.
The project aims to analyze data from years of exploration at the Lara Project including the data generated from 323 drill holes.
The goal is to create a geological model and design an exploration program to increase tonnage and grade of the Lara Project resource.
The project will be carried out in two phases to systematically identify the Lara Project's mineral resource potentials and economics.
The first phase of the project will include:
A thorough review of existing data to assess the existing historical mineral resource estimate.
Recommendations for improving the mineral resource estimate and accounting.
Identification of areas where additional exploration drilling can better define the Lara Project deposit.
Recommendations for up to 40 new drill hole locations to further identify the potential of the deposit.
Nova Pacific's CEO, J. Malcolm Bell, commented, "We are excited to work with Mineit and Sacré-Davey on this crucial project. Their expertise will be invaluable in helping us unlock the full potential of our Lara property. This engagement represents a significant step forward in our mission to increase the value of our resources and advance the Lara Project."
In addition, Nova Pacific announces that, in order to reduce the size of the Company's property portfolio and the associated maintenance costs, the claims comprising the Company's Deer Musk West lithium project located in Clayton Valley, Nevada, have not been renewed for the coming year. As a result, the Lara Project is now the sole property in which Nova Pacific holds an interest, and the Company intends to focus all its efforts and resources on advancing the Lara Project.
About Nova Pacific Metals Corp.
Nova Pacific is a Canadian exploration and development company focused on pursuing projects with a significant mineral discovery thus providing a viable pathway to potential development. The key project being developed by the Company is its recently acquired Lara VMS Project located on southern Vancouver Island, British Columbia. The Lara Project is principally a brownfields development asset with excellent potential for expansion and near-term production.
For additional information please visit: www.novapacificmetals.com
Rights of Indigenous Communities Statement
Nova Pacific recognizes the Rights of all Indigenous Peoples of Canada. The Company is committed to consultation and accommodation with the Hul'qumi'num Treaty Group communities on whose Traditional, Ancestral and Unceded Territory the Lara Property is located. The Hul'qumi'num Treaty Group is a politically unified group that represents six Hul'qumi'num-speaking First Nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt, and Lake Cowichan.
On behalf of the Board of Directors
J. Malcolm Bell
Chief Executive Officer, Director
For Further Information, please contact:
Nova Pacific Metals Corp.
Investor Inquiries
info@novapacificmetals.com
+1-416-918-6785
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE: Nova Pacific Metals Corp.
Teuton Resources: Results from Final Three Holes at Treaty Creek, 2024 Drill Program–Discovery of 4th High-Grade Gold Target, Supercell-1D; Optionee Decade Resources Intersects K Zone in Eleven Holes at Del Norte Property
https://teuton.com/results-from-final-three-holes-at-treaty-creek-2024-drill-program-discovery-of-4th-high-grade-gold-target-supercell-1d-optionee-decade-resources-intersects-k-zone-in-eleven-holes-at-del-norte-prop/
Victoria, BC, October 8, 2024 – Teuton Resources Corp. (“Teuton” or “the Company”) (“TUO”-TSX-V) (“TFE”- Frankfurt)is
Bathurst Metals Completes Additional Detailed Soil Sampling at Peerless Project in Goldbridge, B.C., Adds new Advisory Board Member and Sets Options
https://thenewswire.com/press-releases/1kWVF42P3-bathurst-metals-corp-completes-additional-detailed-soil-sampling-at-peerless-project-in-goldbridge-b-c-adds-new-advisory-board-member-and-sets-options.html
Vancouver, British Columbia - TheNewswire - (October 8, 2024) – Bathurst Metal Corp. (TSXV: BMV, OTC: BMVVF) (“Bathurst” or the “Company”) – Bathurst Metals Corp. has completed additional detailed soil sampling in areas known to host highly anomalous gold in soil results and has added Mr. Ryan Yanch to the Advisory Board.
Peerless Project
Based on the successful definition of highly anomalous, soil-in-soil results at the newly discovered Gamma Zone posted on our September 24, 2024 news release the company has completed evaluating an additional four locations known to contain side spaced, highly anomalous gold-in-soil anomalies.
These highly anomalous gold-in-soil areas were selected based on containing similar lithological and structural settings to known gold deposits in area. In particular, being in very close proximity to thrusted ultramafics where there are later cross cutting brittle-ductile structures.
More soil sampling will be undertaken at a later date as many similar, highly prospective areas require additional fieldwork. All soil samples have now been submitted for analysis; results are pending.
Addition of Ryan Yanch to the Advisory Board
Mr. Yanch has worked in the public markets as a registered trader, and marketing consultant for public companies for over 12 years. Mr. Yanch has also co-founded two marketing agencies and he is currently President of the marketing company, Guerilla Capital
Incentive Stock Options
The Company has granted Mr. Yanch 200,000 incentive stock options which have a ten-year term at an exercise price of $0.05 per option share.
Qualified Person
Lorne Warner, P. Geo is a qualified person as defined by National Instrument 43-101 and has verified and approved the scientific information included in this news release for dissemination.
ON BEHALF OF THE BOARD OF DIRECTORS
“Harold Forzley”
CEO
Bathurst Metals Corp.
For more information contact Harold Forzley, CEO
info@bathurstmetals.com
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.
Golden Cariboo Intersects 85.83 m (281.59 ft) of 0.55 g/t Gold, Including 17.06 m (55.97 ft) of 1.75 g/t Gold from Surface
https://thenewswire.com/press-releases/1AlpFyly0-golden-cariboo-intersects-85-83-m-281-59-ft-of-0-55-g-t-gold-including-17-06-m-55-97-ft-of-1-75-g-t-gold-from-surface.html
October 8, 2024 - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ)
Coast Copper Samples and Extends High-Grade Silver Over 1.5 km Strike at Sweeney
https://www.newswire.ca/news-releases/coast-copper-samples-and-extends-high-grade-silver-over-1-5-km-strike-at-sweeney-880491733.html
Coast Copper Corp. Oct 07, 2024, 07:30 ET
TSX.V: COCO
VANCOUVER, BC, Oct. 7, 2024 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company"; (TSXV: COCO)
Thesis Gold Announces Completion of 2024 Field Program: On Track to Commence PFS and EIA in Early 2025
https://www.newsfilecorp.com/release/225768
October 07, 2024 6:30 AM EDT | Source: Thesis Gold Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2024) - Thesis Gold Inc. (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF) ("Thesis" or the "Company") is pleased to announce the successful completion of its 2024 exploration season at its 100% owned Lawyers-Ranch Project in the prolific Toodoggone Mining District of northern British Columbia. This season's comprehensive fieldwork provided critical geological, engineering, and environmental data, further supporting ongoing permitting efforts and positioning the Company for a smooth transition into a Pre-Feasibility Study (PFS). The Lawyers-Ranch Project continues to emerge as a standout, advanced-stage asset with substantial near-term production potential and exploration upside.
2024 Program Highlights:
Drilling:
A total of 9,510 metres (m) was drilled during the 2024 field season. Metres were split between engineering and environmental baseline studies, resource upgrading and expansion, and exploration.
5400 m was drilled at Ranch, emphasizing geotechnical and water monitoring studies. Geology-focused drilling at Ranch followed up on targets from last year and included new exploration targets.
4100 m was drilled at Lawyers to upgrade existing resources and confirm mineralization in conceptual modelled stopes.
Near-Term Catalyst: Initial drill results are expected soon and will continue to be released over the coming months.
Engineering work:
A geotechnical drilling program at Ranch was completed to assess rock quality, providing essential data to enhance confidence in future mine design efforts.
A test pit program was completed at Ranch to assess ground qualities at proposed waste rock storage facility sites.
Metallurgical and geochemical samples were collected from Ranch core to:
Continue optimizing the process flow sheet, and
Further support studies on acid base accounting.
Environmental studies:
Ranch is in its second year of a two-year baseline study period. Biologists and hydrogeologists were on-site collecting data to characterize the project's aquatic, terrestrial, geochemical, and meteorological components.
2-year baseline data collection at Lawyers is now complete, with only final reporting outstanding.
Field Geology:
Field crews identified regionally prospective geological units and structural trends and confirmed the presence of visual mineralization during reconnaissance geological mapping at newly staked claims located north and east of Ranch.
Dr. Ewan Webster, President and CEO, commented "The successful completion of the 2024 exploration season marks a key milestone for Thesis Gold. This key work is in preparation for the Environmental Assessment process and positions us to swiftly transition into the PFS. With a strong PEA already in place and accelerated progress toward PFS and permitting, the Lawyers-Ranch Project stands out as a premier, advanced-stage asset with significant near-term production potential and considerable exploration upside."
Figure 1. Project Progress
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6169/225768_17c09cbbc4450924_001full.jpg
*AuEq - Gold Equivalent calculated at 80:1 silver to gold.
**Final reports outstanding.
Setting the Stage for Thesis's Next Steps
In 2024, Thesis achieved significant progress de-risking the Lawyers-Ranch project through:
Announcing a Measured and Indicated Mineral Resource Estimate of 4.0 Moz and an Inferred Mineral Resource of 727 Koz gold equivalent (see May 1st news release),
Delivering a positive Preliminary Economic Assessment (PEA) with compelling project economics (see Sept. 5th news release).
This year's comprehensive field program filled key geological, engineering, and environmental data gaps, setting the stage for the Company's next major milestone: the initiation of a Pre-Feasibility Study (PFS) in early 2025. Importantly, with major capital-intensive elements like baseline studies, infill drilling, and on-site engineering work are now largely complete, Thesis is well-positioned to minimize spending and dilution going forward, preserving value for shareholders.
Engineering studies at Ranch this summer included geotechnical drilling within resource areas, test pits for a proposed waste rock storage facility, and sampling to support comminution test work on mineralized material along with geochemical characterization of mineralized material and waste. This work complements the Feasibility-level engineering already completed at Lawyers and will further support a combined mining scenario for both projects.
The minimum two-year environmental baseline data collection at Ranch is nearing completion. Lawyers is at the final stages of monitoring and reporting for environmental baseline data and work is materially complete.
Upon completion, the entire Lawyers-Ranch project area will have the information available to establish an environmental baseline that will help guide project design plans, compliance, and long-term sustainability plans. These factors play an important role in the timeline for completion and delivery of the PFS and Environmental & Impact Assessment.
The successful 2024 drill program included ~9,500 metres focused on engineering and environmental baseline studies, resource upgrading and expansion, and exploration. Initial results are expected soon, and the Company looks forward to reporting on further developments as the Project progresses toward a construction decision.
On behalf of the Board of Directors
Thesis Gold Inc.
"Ewan Webster"
Ewan Webster Ph.D., P.Geo.
President, CEO, and Director
About Thesis Gold Inc.
Thesis Gold Inc. is a resource development company focused on unlocking the potential of its 100% owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The recently completed Preliminary Economic Assessment (PEA) highlights robust project economics, including a 35.2% after-tax IRR and an after-tax NPV5% of C$1.28 billion, demonstrating the potential for significant value creation. Over the next 12 months, Thesis is dedicated to advancing the Project through critical development milestones, including the initiation of a Pre-Feasibility Study (PFS) and progressing permitting and environmental work. The Company will also continue to evaluate multiple high-potential exploration targets across the district, aiming to build on the substantial resource growth potential identified in the PEA. Through these strategic moves, Thesis Gold intends to elevate the Ranch-Lawyers Project to the forefront of global precious metals ventures.
1Please refer to the Company's Preliminary Economic Assessment entitled, "Preliminary Economic Assessment, Lawyers Gold-Silver Project" with an effective date of September 9, 2022 filed under the Company's profile on SEDAR+ at www.sedarplus.ca.
2Details of the mineral resource estimate will be provided in a technical report with an expected effective date of May 1, 2024, prepared in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects ("NI 43-101").
The scientific and technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person (QP) as defined by NI 43-101.
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President Corporate Development
Email: daveb@thesisgold.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915
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 press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis, which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Thesis Gold Inc.
Trailbreaker Defines Chargeability Feature Coincident With Multi-Element Geochemical Anomaly at Swan Zone, Atsutla Project, British Columbia
https://ca.finance.yahoo.com/news/trailbreaker-defines-chargeability-feature-coincident-114500513.html
Trailbreaker Resources Ltd.
Mon, October 7, 2024 at 4:45 a.m. PDT·9 min read
APRAF
-7.21%
VANCOUVER, British Columbia, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V)
Interra Enters Purchase Agreement for the Stars Copper Project
https://thenewswire.com/press-releases/1k1vFK9GD-interra-enters-purchase-agreement-for-the-stars-copper-project.html
October 7, 2024 - TheNewswire - VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; OTCQB: IMIMF; FRA: 3MX)
Metal Energy Announces Acquisition of Highland Valley Copper Project
https://www.newsfilecorp.com/release/225560
October 04, 2024 6:00 AM EDT | Source: Metal Energy Corp.
Toronto, Ontario--(Newsfile Corp. - October 4, 2024) - Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) (the "Company" or "Metal Energy") is pleased to announce a next step in its growth, having entered into an arm's length asset purchase agreement with Happy Creek Minerals Inc. ("Happy Creek") (TSXV: HPY). dated October 2, 2024, as amended pursuant to an amending agreement dated October 3, 2024, to acquire the 100%-owned Highland Valley Copper Project in British Columbia.(the "Acquisition").
The Highland Valley Project ("Highland" or the "Project") spans 240 km² in southern British Columbia. With its proximity to critical infrastructure like roads, rail, and power, the Highland Valley Project is just 3.5 hours from Vancouver and 30 minutes from Merritt.
As part of the Ore Group, Metal Energy will leverage its extensive experience across other companies and projects to collect, harmonize, and remodel historical data into a comprehensive, modern database. This process will enable the identification of opportunities and trends for future drilling and development.
The Project aligns perfectly with Ore Group's strategy of capitalizing on historical data in regions that offer excellent access, infrastructure, and proximity to operating mines within established mining districts.
The Highland Valley Project is located on the southern edge of the Guichon Creek Batholith, which hosts the significant HVC open pits. Metal Energy's newly acquired land package shares many geological similarities with HVC, particularly in two high-priority areas.
Zone 1: Copper-silver-molybdenum mineralization spanning 1,200 metres in length and remains open to the south and at depth, offering expansion potential. The primary copper-rich minerals include chalcocite and bornite.
Zone 2: High-grade copper-gold-silver-molybdenum-rhenium mineralization, and notably enriched with gold, setting it apart from typical deposits in the region. Like Zone 1, it offers potential for resource expansion in all directions.
The Project is already permitted to drill and boasts a history of over 55,000 metres of drilling across 402 holes (37,265 metres drilled in 136 holes since 2007), . The Acquisition brings together a highly prospective, underexplored land package.. A systematic drill program will expand known high-potential zones and uncover new targets within the East Zone and West Zone claims.
The Highland Valley property, under Happy Creek's ownership, was consolidated into a single large land package over 17 years. Most recently, Happy Valley acquired the Mystery property (438 hectares, located in the northern extent of the East Zone claims) in 2021. The Project was historically operated by Asarco Mining (1970s), Cominco Ltd (1980s) and Hudbay Minerals (1990s).
Terms of the Acquisition
Metal Energy shall acquire 100% of the Highland Valley Project from Happy Creek for the following consideration.
On the closing date of the Acquisition (the "Closing Date") the following is payable:
$300,000 cash, to be paid on or before the Closing Date to Happy Creek;
The issuance of common shares in the capital of Metal Energy ("Metal Shares") to Happy Creek representing 9.9% of the issued and outstanding Metal Shares;
A 2.5% net smelter royalty ("NSR") granted to Happy Creek on certain claims of the Highland Valley property, of which 1.5% may be repurchased by Metal Energy for $5,000,000.
Metal Energy shall pay additional consideration to Happy Creek by:
Conducting $250,000 in exploration expenditures on the Project on or before December 31, 2024.
The issuance of Metal Shares to Happy Creek with a value of $1,000,000 on or before 12 months after the Closing Date ("Tranche One Consideration Shares").
The issuance of Metal Shares to Happy Creek with a value of $1,000,000 on or before 24 months after the Closing Date ("Tranche Two Consideration Shares").
The issuance of Metal Shares to Happy Creek with a value of $1,500,000 on or before 36 months after the Closing Date ("Tranche Three Consideration Shares").
The issuance of Metal Shares to Happy Creek with a value of $2,500,000 on or before 48 months after the Closing Date ("Tranche Four Consideration Shares").
(the Tranche One Consideration Shares, Tranche Two Consideration Shares, Tranche Three Consideration Shares, and Tranche Four Consideration Shares are collectively the "Additional Consideration Shares".)
If the issuance of any of the Additional Consideration Shares would result in Happy Creek holding in excess of 19.9% of the issued and outstanding common shares of Metal Energy, Metal Energy shall pay the balance of the applicable payments to Happy Creek in cash.? The number of Additional Consideration Shares to be issued shall be determined based on the greater of (i) the Discounted Market Price (as defined in Policy 1.1 of the TSX Venture Exchange ("TSXV") Corporate Finance Manual) and (ii) the volume weighted average price of the common shares of Metal Energy that trade on the TSXV, or such other stock exchange upon which the common shares of Metal Energy are listed and posted for trading at such time if such common shares are no longer listed and posted for trading on the TSXV, for the thirty (30) trading days prior to the date such Additional Consideration Shares are issued, provided that in any event no Additional Consideration Shares shall be issued at a price of less than $0.01 per share.
In addition, provided Happy Creek continues to hold at least 5% of the issued and outstanding shares, Happy ?Creek will have the right to nominate one director to Metal Energy's Board. ?
Conditions and Approvals
This Acquisition is subject to approval from the TSXV and is expected to close in mid to late October, 2024 following TSXV approval.
QP Statement
The technical information contained in this news release has been reviewed and approved by Mike Sweeny, P.Geo., Technical Advisor for Metal Energy, and a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
Metal Energy Corp.
MERG on the TSXV
James Sykes, CEO
info@oregroup.ca
www.metalenergy.ca
Reader Advisory
This news release contains certain forward-looking information. All statements included herein, other ?than statements of historical fact, are forward-looking information and such information involves various ?risks and uncertainties. In particular, this news release contains forward-looking information in relation ?to: the anticipated benefits of the Acquisition to Metal Energy and its shareholders; the timing and ?anticipated receipt of required regulatory (including TSXV) for the ?Acquisition; the ability of Metal Energy to satisfy the other conditions to, and to complete, the Acquisition; ? and the closing of the Acquisition. There can be no assurance ?that such information will prove to be accurate, and actual results and future events could differ ?materially from those anticipated in such information. This forward-looking information reflects the ?Company's current beliefs and is based on information currently available to the Company and on ?assumptions the Company believes are reasonable. These assumptions include, TSXV acceptance and market acceptance of the Acquisition; the ?Company's current and initial understanding and analysis of its projects; the Company's general and ?administrative costs remaining constant; market acceptance of the Company's business model, goals ?and approach; and the feasibility and reasonableness of conducting exploration on and developing any ?of the Company's projects. Forward-looking information is subject to known and unknown risks, ?uncertainties and other factors which may cause the actual results, level of activity, performance or ?achievements of the Company to be materially different from those expressed or implied by such ?forward-looking information. Such risks and other factors may include, but are not limited to: there is no ?certainty that work programs will result in significant or successful ?exploration and development of the ?Company's properties; uncertainty as to ?the actual results of exploration and development or operational ?activities; uncertainty as to the availability and terms of ?future financing on acceptable terms; ?uncertainty as to timely availability of permits and other governmental approvals; the Company may not ?be able ?to comply with its ongoing obligations regarding its properties; the early stage development of ?the Company and its projects; general business, economic, competitive, political and social ?uncertainties; capital market conditions and market prices for securities, junior market securities and ?mining exploration company securities; commodity prices; the actual results of current exploration and ?development or operational activities; competition; changes in project parameters as plans continue to ?be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to ?receive board or regulatory approvals; changes in legislation, including environmental legislation or ?income tax legislation, affecting the Company; conclusions of economic evaluations; and lack of ?qualified, skilled labour or loss of key individuals. A description of additional risk factors which may ?cause actual results to differ materially from forward-looking information can be found in the Company's ?disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Company has ?attempted to identify important factors that could cause actual results to differ materially from those ?contained in forward-looking information, there may be other factors that cause results not to be as ?anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-?looking information. The Company does not undertake to update any forward-looking information ?except in accordance with applicable securities laws.?
Neither the TSX Venture Exchange Inc. 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: Metal Energy Corp.
Sun Summit Drills 122.5 metres of 2.1 g/t Gold Including 20.0 metres of 10.0 g/t Gold at the Creek Zone, JD Project, Toodoggone District, B.C.
https://www.newsfilecorp.com/release/225364
October 02, 2024 11:30 AM EDT | Source: Sun Summit Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2024) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF)
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First "New" Gold Mine to Open in BC for 10 Years -
QR Mine one of BC large gold mines -
investorshub.advfn.com/boards/board.aspx
investorshub.advfn.com/boards/board.aspx
British Columbia (B.C.) is positioned to become a powerhouse province in the commodity boom that has just begun.
investorshub.advfn.com/boards/board.aspwww.cambridgehouse.ca/ch_jan2009.html
www.ivarkreuger.com/metalcharts.htm www.minesite.com/companies/comp_single/company/cross-lake-minerals.html
www.bcadventure.com/adventure/explore/cariboo/cities/quesnel.htm
www.city.quesnel.bc.ca/Community/history.asp
Map of BC mining plays etc. (Not a company list.)
http://www.empr.gov.bc.ca/Mining/Geoscience/PublicationsCatalogue/OpenFiles/2010/Documents/OF2010-1.pdf
Major Exploration Programs NW Region (Companies are listed).
http://www.empr.gov.bc.ca/Mining/Geoscience/PublicationsCatalogue/ExplorationinBC/Documents/2009/2009_NW.pdf
The Big Picture
http://www.empr.gov.bc.ca/Mining/Geoscience/PublicationsCatalogue/ExplorationinBC/Documents/2009/BCExploration-and-Mining2009.pdf
Mineral Exploration Roundup 2009
January 26 - 29, 2009 - Westin Bayshore Vancouver
Pre registration for the conference is now closed.
If you wish to register for the conference, you will need to register on-site at the Westin Bayshore. On-site registration hours are available here.
Limited Tickets Remaining for the Luncheons and Awards Dinner!
There are a limited number of tickets remaining for our popular keynote events. Although registration for the conference has now closed we are offering the opportunity to purchase tickets to the special events by phone.
To purchase event tickets please call 604.689.5271 x 239.
Tickets Available:
AME BC Health and Safety Awards Luncheon
Keynote Speaker: Robin Sheremeta, General Manager & Team Leader, Safety Performance, Teck Coal Limited Elkview Operations
www.investcom.com/moneyshow/gold_cariboo.htm
www.crosslakeminerals.com/i/pdf/Presentation.pdf
BC & Yukon Chamber of Mines -
British Columbia -
http://www.bc-mining-house.com/
The BC & Yukon Chamber of Mines supports and promotes the mineral exploration community and related services.
www.amebc.ca/
The news focuses on mining in BC, Canada and the International arena. ... News or to find out how to become a subscriber, contact us: mabcinfo@mining.bc.ca ...
http://www.mining.bc.ca/news_events/news.htm
The NBK Institute of Mining Engineering is constantly improving the services that we offer to both the academic community and the general public.
http://www.mining.ubc.ca/
Let Intierra assist you in all of your information
mapping requirements
intierramapping.com/index.asp
http://gateway.cotr.bc.ca/Default.asp
World www.goldstandardinstitute.com/index.html
2010 Worldwide Mining Events Calendar
http://www.infomine.com/events/calendar/2010/
Resource Investment Conference -
Vancouver Convention and Exhibition Centre
http://www.cambridgehouse.ca/index.html
http://www.cambridgehouse.ca/ch_register.html
Useful PM related sites:
http://www.24hgold.com/
http://www.jsmineset.com/
http://www.marketwatch.com/
http://www.mineweb.com/
http://www.gold-eagle.com/
http://www.kitco.com/
http://www.usagold.com/
http://www.usagold.com/amk/usagoldmarketupdate.html
http://www.GoldSeek.com/
http://www.GoldReview.com/
http://www.capitalupdates.com/
http://www.dailyreckoning.com/
http://www.goldenbar.com/
http://www.silver-investor.com/
http://www.thebulliondesk.com/
http://www.sharelynx.com/
http://www.mininglife.com/
http://www.financialsense.com/
http://www.fgmr.com/
http://www.goldensextant.com/
http://www.goldismoney.info/index.html
http://www.howestreet.com/
http://www.depression2.tv/
http://www.un-debt.net/
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.goldcolony.com/
http://www.miningstocks.com/
http://www.mineralstox.com/
http://www.freemarketnews.com/
http://www.321gold.com/
http://www.silverseek.com/
http://www.investmentrarities.com/
http://www.kereport.com/ (Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm (in Spanish)
http://www.plata.com.mx/plata/plata/english.htm (in English)
http://www.resourceinvestor.com/
http://www.miningmx.com/
http://www.prudentbear.com/
http://www.dollarcollapse.com/
http://www.kitcocasey.com/
http://000999.forumactif.com/
http://www.golddrivers.com/
http://www.goldpennystocks.com/
http://www.oroyfinanzas.com/
http://www.goldcore.com/
http://coininfo.com/
http://www.insidegold.com/
http://www.goldmau.com/
http://www.milesfranklin.com/
http://www.silverminers.com/
http://www.gold-speculator.com/
http://bullion.nwtmint.com/
http://www.preciousmetalsmonthly.com/
http://www.silverstockreport.com/
http://www.longwavegroup.com/
http://theaureport.com/
Subscription sites:
http://www.lemetropolecafe.com/
http://www.marketforceanalysis.com/
http://www.hsletter.com/
http://www.interventionalanalysis.com/
http://www.investmentindicators.com/
http://www.caseyresearch.com/
http://www.deepcaster.com/
http://www.vrtrader.net/
Eagle Ranch discussion site:
http://os2eagle.net/SSL/phpentry.php
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
http://cambridgehouse.com/
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