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WHN.v Westhaven Commences Drill Program at Skoonka Creek Gold Property https://ceo.ca/@globenewswire/westhaven-commences-drill-program-at-skoonka-creek
SKYG.v neighbour in Que releasing some decent base metal intervals... $STE $AMX $GGC STARR PEAK DISCOVERS MASSIVE NEW UNTESTED BHEM ANOMALY ON THE NORMETMAR DEEP ZONE AND REPORTS DRILL PROGRAM UPDATEhttps://ceo.ca/@newswire/starr-peak-discovers-massive-new-untested-bhem-anomaly
SKYG.v $SRKZF Sky Gold Commences Work wth Goldspot to Define Targets at the Mustang Project, Newfoundland https://ceo.ca/@accesswire/sky-gold-commences-work-wth-goldspot-to-define-targets
ILI.v $ARXRF Imagine Lithium Intercepts 21 m Grading 1.16% Li2O at Jackpot https://ceo.ca/@newsfile/imagine-lithium-intercepts-21-m-grading-116-li2o
RKL.ca Link to the piece Stefan Bogner of Rockstone Research penned on the co's efforts in Utah "The Emergence of Soft-Rock Lithium ‘Clay‘ Mining"
https://www.rockstone-research.com/index.php/en/research-reports/6017-The-Emergence-of-Soft-Rock-Lithium-Clay-Mining
SKYG.v $SRKZF's Newfoundland neighbour out with some decent infill drilling results ...NFG.v $NFGC New Found Intercepts 68.19 g/t Au Over 2.05m & 45.05 g/t Au Over 2.25m, Extends Keats Main Zone to Over 1km Along Strike
https://ceo.ca/@businesswire/new-found-intercepts-6819-gt-au-over-205m-4505
GLM.ca $GOLXF Golden Lake Welcomes Donald Hoy as Vice President of Exploration
by @accesswire on 27 Sep 2022, 05:00
VANCOUVER, BC / ACCESSWIRE / September 27, 2022 / Golden Lake Exploration Inc. ("GLM" or the "Company") (CSE:GLM)(OTCQB:GOLXF) is very pleased to welcome Mr. Don Hoy, M.Sc., P.Geo., as the Company's Vice President of Exploration.
Don Hoy brings over 30 years of experience, acting in both technical and senior management capacities, for junior and major mining companies. Recently, he served as President of Wolfden Resources Corporation and prior to that, as Vice President Exploration and Development for Cliffs Natural Resources Inc., as well as Freewest Resources Canada Inc. During his tenure with Freewest, he was a recipient of the Prospectors and Developers Association of Canada 2009 Bill Dennis Award, as 1 of 5 persons credited with the ‘Ring of Fire' discoveries in northern Ontario. He is currently Vice President of Exploration for Copper Lake Resources Ltd. Mr. Hoy is a Professional Geoscientist in Ontario and holds a B.Sc. degree from the University of Western Ontario and an M.Sc. degree (Mineral Exploration) from Queen's University.
"We are very excited to have Don Hoy on board, with his wealth of experience in the precious metals market and with public companies, join our team as we look to advance our Jewel Ridge project located in the prolific Battle Mountain - Eureka trend in Nevada." stated Mike England, CEO and President of Golden Lake Exploration Inc.
Don Hoy commented; "The Battle Mountain Eureka trend is one of the premier gold belts in the world in terms of its endowment, variety of styles of mineralization and exploration upside. I look forward to working with the Golden Lake exploration team on this outstanding opportunity to add value to the Jewel Ridge property and ultimately, to make new discoveries."
The Company further announces it has set 1.8 million options at a price of $0.08 for a period of 5 years to consultants and directors in accordance with the Company's stock option plan.
Golden Lake also announces it has determined to drop one option consisting of certain claims in its Copperview portfolio. A revised map of Copperview will be available to view on the Company's website.
About Jewel Ridge
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/717561/Golden-Lake-Welcomes-Donald-Hoy-as-Vice-President-of-Exploration
$TORVF: Short and Sweet Next-Generation Lithium Battery Tech:
They have developed the Next Generation tech for Lithium Batteries...i.e. Solid State, which is now the future for all Electric Vehicles (Think Tesla: $TSLA )
$TORVF is the USA Symbol for the main company: Volt Carbon Technologies in Canada (TSX-V: VCT).
Company was founded by the recognized world leader in battery and fuel cell technology (Zhongwei Chen, PhD)
https://uwaterloo.ca/chemical-engineering/profile/zhwchen
Website: http://www.voltcarbontech.com/
Company Management is all PhD's.
They will challenge the current major Lithium battery company, which is Quantumscape: $QS (NYSE) trading at $10/share, with a market cap of $3.4 Billion.
Quantumscape is using old tech, which $TORVF will be replacing.
$TORVF has also recently (Sept 14, 2022) patented a revolutionary Air Classification System for Graphite Mining.
This tech can be used by every Graphite Miner on the planet. And Graphite is HUGE.
Highlights:
Next Generation Lithium Battery: No Thermal Runaway
Production ready
-- Simple modification of existing lithium-ion battery production lines results in rapid industry adaptation.
Solid electrolyte separator vs current membrane (which leads to thermal runaway)
Revolutionary air classification system for processing graphite
-- Recently Patented on Sept 14, 2022
-- Graphite flake separation done at mining site vs shipping to processing facility.
-- Graphite Processing Without Reagents or Wet Tailings
CEO Interview:
RKL.ca Rockland Resources More Than Triples Lithium Claystone Portfolio in Juab County, Utah
by @accesswire on 20 Sep 2022, 05:01
VANCOUVER, BC / ACCESSWIRE / September 20, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to report a major expansion of the Company's claim position in west-central Utah directed at lithium mineralization hosted in clay or claystone volcanic tuff units. An additional 1,525 claims have been located in 4 property blocks comprising 30,500 acres (12,343 ha). When combined with the original Lithium Butte Property, where sampling has returned values up to 4,080 parts per million lithium (ppm Li), the Company's holdings total 2,076 claims, comprising 41,520 acres (16,219 ha).
Lithium Butte and area properties are positioned as Utah's leading claystone lithium project
District scale (41,520 acres) land position prospective for lithium in mining friendly Utah, USA
Utah is No 3 USA location on the 2021 Fraser Institute list, exceptional property location, near highways, power and manpower
Lithium mineralized claystones as well as lithium in brine potential
Similar geology to Nevada's hotbed of activity in the Clayton Valley - Tonopah area
Highly elevated lithium content in the primary Spor Mtn Formation Volcanic Beryllium-tuff member
Claystone alteration has further enriched lithium concentrations
Early channel sampling has provided grades of 25.2 metres at 1,388 ppm lithium including 8 metres of 2,155 ppm lithium within the channel
Initial grab samples at Lithium Butte provided values of 1,200 ppm up to 4,080 ppm Lithium - a great starting point
Properties also contain beryllium (Be) mineralization with values over 4,000 ppm Be and are contiguous with producing Materion Corp. (MTRN - NYSE) Be mine
On site company testing facility set up with LIBS analyzer and geologists to provide much faster turnaround time to help move the project move forward fast
Rockland Resources Ltd., Tuesday, September 20, 2022, Press release picture
All claims are located in Juab County, Utah, and are interpreted to be prospective for lithium mineralization, based on similarities to the Lithium Butte Property, where Company sampling and a historic (2010) database indicate widespread lithium mineralization hosted in clay or claystone volcanic tuff units. The newly acquired claims are located about 10 kilometres North-Northeast of the northwestern portion of the Lithium Butte property, east of the Fish Springs Mountain Range. The 4 claim blocks comprise the North Spor, GP, Cane Springs and Fish Springs Flat properties adjoin to the north and west of the Spor Mountain beryllium mine owned by Materion Corporation (NYSE: MTRN), the sole producer of beryllium ore in the United States. Rockland's primary exploration target is claystone hosted lithium mineralization, however, the Fish Springs Flat Property covers an area interpreted to be prospective for lithium brine mineralization (Mills, S.E. and Rupke, A., 2020, Utah Geological Survey, Circular 129).
Dr. Richard Sutcliffe, Rockland's President stated "Rockland has had the advantage of being an early mover in the acquisition of lithium exploration properties in the Basin and Range Geological Province of western Utah. The Company has acquired an extensive land position in two adjacent basins that both have the hallmarks of the lithium claystone mineralization model including lithium enriched volcanic units, geothermal fluid activity, restricted basins, claystone horizons, and favourable structure. Our field team is currently conducting geological mapping and soil surveys that utilize an in-house LIBS analyzer capable of lithium analysis to rapidly evaluate targets for future drilling."
The Company also announces that pursuant to an agreement dated August 5th, 2022 between the Company and Multiple Metals Resources Ltd. ("MMRL"), the Company has agreed to grant MMRL a 10% carried interest in the Lithium Butte (60 core claims) Property. The Company will bear all exploration costs in relation to the mineral interests until such time as the Company has incurred $2.5 million in exploration expenditures, after which all exploration costs will be shared on a pro rata basis between the Company and MMRL, subject to standard dilution conditions. If MMRL's interest is diluted to less than 2%, it will convert to a 0.5% net smelter returns royalty. MMRL is an arm's length party to the Company. The 60 claims represent 1,200 acres (486 ha) of the total 41,520 acres (16,219 ha).
Additionally, the Company has agreed to grant MMRL and Helvellyn Capital Corp. a 1.5% net smelter returns royalty over any mineral claims that it acquires in a specified portion of Juab County, Utah. The net smelter returns royalty is subject to a 0.5% buyback right in consideration of $1 million. Helvellyn Capital Corp. is a private Ontario company of which Richard Sutcliffe, the President and a director of the Company, is the principal.
Program QA/QC - Previous and recent sampling on the Lithium Butte Property was carried out by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also responsible for reviewing and approving the geological contents of this news release. Samples were transported in sealed bags by the Project Manager and shipped to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis will be performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra claystone project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds and option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/716691/Rockland-Resources-More-Than-Triples-Lithium-Claystone-Portfolio-in-Juab-County-Utah
WHN.v The Power Play by The Market Herald Releases a New Interview with Westhaven Gold Discussing Their Latest News https://ceo.ca/@accesswire/the-power-play-by-the-market-herald-releases-a-new-8328b
BARU.v $BARUF Baru Gold Successfully Appeals Lawsuit Filed in Makassar and Provides Update on Lawsuit Filed in Jakarta
by @thenewswire on 16 Sep 2022, 06:01
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire – September 16, 2022 - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (the “Company” or “Baru”) wishes to provide an update on the appeal of a lawsuit filed in Makassar, Indonesia (the “Makassar Lawsuit”) against two government departments responsible for the issuance of the Environmental Permit (“AMDAL”) to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
The Makassar Lawsuit was filed in October 2021 against the North Sulawesi Province Government Head of Investment and One Stop Integrated Services of North Sulawesi and Head of Environmental Department of North Sulawesi pertaining to the issuance of the AMDAL to TMS in 2020. While TMS was not named in the Makassar Lawsuit, the court granted permission for a representative of TMS to attend the proceedings in support of the government departments. In June 2022, judgement was issued in favor of the plaintiff (see news release dated June 28, 2022). In response, the ruling was appealed and on September 7, 2022, TMS was successful in having the June ruling overturned.
Update on the Ministry of Energy and Mineral Resources Lawsuit
In a news release dated September 6, 2022, the Company provided an update on a lawsuit filed in Jakarta, Indonesia in June 2021 (the “Jakarta Lawsuit”), against the Ministry of Energy and Mineral Resources (the “MEMR”), the government department responsible for issuing the operational mining permit to TMS. While TMS was not named in the Jakarta Lawsuit, the court granted permission for a representative of TMS to attend the proceedings in support of MEMR.
In April 2022, the Jakarta Lawsuit was dismissed. The decision was appealed and on September 6, 2022, the appeal was successful and the April ruling was overturned.
It is the Company’s position that the court made its September ruling in the Jakarta Lawsuit based on the June 2022 ruling in the Makassar Lawsuit. As the June ruling in the Makassar Lawsuit was subsequently overturned, the MEMR and TMS have jointly filed an appeal of the Jakarta Lawsuit to the highest court in Indonesia.
Terry Filbert, CEO of Baru Gold, commented “The Company notes that the Makassar decision came only a few days after the Jakarta decision. TMS appears to have been unsuccessful in its appeal of the Jakarta lawsuit based on the June 2022 Makassar ruling which has now been overturned. I would like to reiterate that TMS continues to hold a valid Contract of Work (“CoW”) with the Indonesian government which remains unaffected by any of these court decisions. The CoW permits TMS to explore our licenced area. The Company can and will proceed with the planned resource development program of infill drilling to upgrade some of the inferred resources into indicated and measured resource status.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
WHN.v Westhaven Arranges Financing Package With Franco-Nevada Corporation
by @GlobeNewswire on 14 Sep 2022, 06:00
VANCOUVER, British Columbia, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V: WHN) (“Westhaven” or the “Company”) is pleased to announce that it has entered into a financing arrangement with Franco-Nevada Corporation (TSX, NYSE: FNV) (“Franco-Nevada”), the leading gold-focused royalty and streaming company.
Westhaven has agreed to sell a 2% net smelter return royalty (the “NSR”) to Franco-Nevada for US$6,000,000 (the “NSR Transaction”). The NSR applies to all of Westhaven’s claims across the Spences Bridge Gold Belt (the “SBGB”) in Southwestern British Columbia, Canada. Westhaven has an option to buy-down 0.5% of the NSR for US$3,000,000 for a period of 5 years from the closing of the transaction. Westhaven has also agreed to sell to Franco-Nevada for US$750,000 the Talisker Resources Ltd. net smelter return royalty (the “Talisker Royalty”) originally granted to Westhaven by Sable Resources Ltd. and referenced in Westhaven’s news release dated October 16th, 2018 (the “Talisker Royalty Transaction”). Link to news release: Westhaven news release October 16th, 2018
In addition, Franco-Nevada has agreed to subscribe for 2,500,000 shares of the Company at a price of CAD$0.40 for gross proceeds of CAD$1,000,000 (the “Private Placement”).
Gareth Thomas, President & CEO, comments: “We are very pleased to welcome Franco-Nevada as a shareholder and stakeholder in Westhaven and the Spences Bridge Gold Belt. Franco-Nevada’s investment is a major endorsement of Westhaven’s properties in Southwestern British Columbia. Westhaven’s exploration activities across its projects are now fully financed until 2024.”
Westhaven has an ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the SBGB and borders the Coquihalla Highway 30 kilometres (km) south of Merritt, British Columbia. Westhaven benefits from the B.C. Mining Exploration Tax Credit (the “METC”) which is a permanent incentive to support investment in mining. The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C. and can be claimed on up to 30% of qualified mining exploration expenditures. Westhaven can claim the full 30% METC as its properties fall within mountain pine beetle affected areas.
The Private Placement remains subject to TSX Venture Exchange approval, and all securities issued in the Private Placement will be subject to a four-month hold period, during which time the securities may not be traded. Further, each of the NSR Transaction, the Talisker Royalty Transaction and the Private Placement remain subject to satisfaction of closing conditions customary for transactions of this nature.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Shaun Pollard"
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
spollard@westhavengold.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.
This new release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Primary Logo
SKYG.v $SRKZF's Newfoundland neighbour out with some decent infill drilling results ...by @businesswire on 13 Sep 2022, 03:31
New Found Intercepts 152.1 g/t Au Over 3.85m & 12.98 g/t Au Over 14.95m at Lotto Main Vein, Confirms Continuity of High-Grade Over 220m Strike
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from nine diamond drill holes that were completed as part of an infill and step-out drill program testing the Lotto Main Vein located 2km north of the Keats Zone along the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100% owned Queensway project comprises an approximately 1500km2 area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913005571/en/
Figure 1. Keats - Lotto plan view map (Graphic: Business Wire)
Figure 1. Keats - Lotto plan view map (Graphic: Business Wire)
Lotto Highlights:
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Prospect
Vein/Zone
NFGC-22-664
66.40
70.00
3.60
16.13
Lotto
Lotto Main
Including
68.80
69.35
0.55
92.60
NFGC-22-673
206.15
210.00
3.85
152.08
Lotto
Lotto Main
Including
206.15
208.90
2.75
211.91
NFGC-22-684
211.45
226.40
14.95
12.98
Lotto
Lotto Main
Including
216.30
217.00
0.70
25.30
Including
224.30
226.40
2.10
72.35
Lotto Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
At the Lotto prospect, diamond drilling is progressing on a work program designed to step out and expand the known extents of the high-grade gold bearing Lotto Main Vein and to also infill in areas for better definition of the very high-grade gold domains which will help with understanding the mineralization controls and ultimately guide future exploration efforts.
The Lotto Main Vein contains high-grade gold mineralization that has now been defined over a strike length of 220m with the intercept of 16.13 g/t Au over 3.60m in NFGC-22-664 and to a depth of 225m. This intercept is 190m north of the previously reported 150.3 g/t over 11.5m in NFGC-21-201 (reported on June 23, 2021). The Lotto Main Vein target is not closed off in any direction along strike or to depth (Figures 1, 3, and 4).
Infill drilling at the Lotto Main Vein is targeting a “roll”, an area where there is a drastic change in the vein orientation, interpreted to be a location of dilation and potentially correlated to the emplacement of high-grade gold mineralization. The current drill results have provided further confirmation of this interpretation with the intercepts of 152.1 g/t Au over 3.85m in NFGC-22-673 and 12.98 g/t Au over 14.95m in NFGC-22-684 (Figures 1, 3, 4, and 5).
This exploration work supports the current geological model and has also contributed to the understanding of the mineralization controls at Lotto. This improved understanding will allow for efficient testing of this high-grade corridor going forward as gold mineralization remains open in all directions.
Melissa Render, VP Exploration for New Found stated: “These results affirm the richness and potential of the Lotto Main Vein. After a short hiatus to focus on near-surface targets in this area, drilling has resumed testing this target area to depth, successfully expanding segments of the Lotto Main Vein that contain very high-grade gold. The Lotto Main Vein is open in all directions and ongoing exploration continues to capture critical information important to the understanding of the mineralization controls, namely that these sites of complexity are often the locations of high-grade gold mineralization thus representing high-priority target areas for future testing.”
Discussion
Mineralization at the Queensway Project is hosted by a fold-thrust sequence of northeast-striking, steeply dipping turbiditic sedimentary rocks deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision. During this prolonged period of continued shortening, at least two regional-deformation zones developed and include the AFZ and JBP fault zones. The AFZ is interpreted to be a significant, deep-seated thrust fault that strikes southwest across the full 100km+ length of the property and is likely the main conduit for the gold mineralizing fluids, much like the Cadillac-Larder Lake Fault Zone in the Abitibi.
As a result of progressive deformation, the brittle host stratigraphy developed an extensive network of gold-bearing fault zones enveloping the AFZ, the extents of which are not yet known. Higher grades and widths of gold mineralization occur in areas where there was greater mineralizing fluid flow such as at structural intersections, at dilational openings within fault structures, and along lithological contacts where breakage occurs due to rheological differences in the compressional strength of contrasting sedimentary rock units. A significant amount of the high-grade gold mineralization is interpreted to be epizonal in nature, having been emplaced when tectonic movements resulted in the explosive tapping of deep gold-rich magmatic fluids that rapidly precipitated gold as they migrated towards surface.
A majority of the exploration drilling to date at Lotto has been focused on testing the Main Vein. Like the Golden Joint Main Vein, it too strikes north-south but is steeply dipping to the east. This specific vein also occurs approximately 200m east of the AFZ, has been defined to a vertical depth of 325m and over a length of 225m (Figures 1 and 4) and contains a high-grade segment now defined to a depth of 225m and over a strike length of 220m. The Lotto Main Vein is spatially associated with a brittle fault zone and is developed in close proximity to a narrow bed of greywacke. The Lotto Main Vein is often massive and vuggy with localized domains of brecciation. There is also an apparent high-grade domain that is interpreted to steeply plunge to the northeast. The vein at this location crosscuts the thin bed of greywacke, but also, the presence of late brecciated vein phases suggests that there is a fault intersection at this location. Continued exploration drilling in this area will focus on expanding the Lotto Main Vein high-grade domain but will also shift to systematic drill testing stepping north into untouched regions along the AFZ.
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Prospect
Vein/Zone
NFGC-22-556
50.95
53.45
2.50
4.47
Lotto
Bridge
Including
53.05
53.45
0.40
16.85
And
137.75
140.25
2.50
5.66
Tuesday
Including
139.35
140.25
0.90
14.45
NFGC-22-574
216.95
219.00
2.05
1.66
Lotto
And
254.40
258.90
4.50
1.22
NFGC-22-590
No Significant Values
Lotto
Tuesday
NFGC-22-618
61.00
64.40
3.40
2.01
Lotto
Tuesday
And
150.60
152.95
2.35
3.24
NFGC-22-636
No Significant Values
Lotto
NFGC-22-647
51.40
53.60
2.20
1.12
Lotto
Lotto Main
And
54.60
57.10
2.50
1.33
And
72.10
78.00
5.90
1.09
NFGC-22-664
66.40
70.00
3.60
16.13
Lotto
Lotto Main
Including
68.80
69.35
0.55
92.60
NFGC-22-673
106.75
108.80
2.05
8.29
Lotto
Lotto Main
Including
106.75
107.50
0.75
22.00
And
206.15
210.00
3.85
152.08
Including
206.15
208.90
2.75
211.91
And
239.80
242.70
2.90
7.92
Including
241.15
241.80
0.65
15.55
NFGC-22-684
206.00
208.65
2.65
1.41
Lotto
Lotto Main
And
211.45
226.40
14.95
12.98
Including
216.30
217.00
0.70
25.30
Including
224.30
226.40
2.10
72.35
2: Summary of composite results reported in this press release for Keats North
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-22-684
258
-69
237
5429072
658983
NFGC-22-673
263
-68
258
5429097
658990
NFGC-22-664
300
-61
174
5429139
658919
NFGC-22-647
308
-45
213
5429139
658919
NFGC-22-636
355
-60
234
5429048
658824
NFGC-22-618
320
-56
168
5429026
658810
NFGC-22-590
300
-45
156
5428992
658819
NFGC-22-574
300
-45
276
5429100
658881
NFGC-22-556
299
-45.5
264
5428989
658875
Table 3: Details of drill holes reported in this press release
Queensway 400,000m Drill Program Update
Approximately 63% of the planned 400,000m program at Queensway has been drilled to date with ~38,840m of the core still pending assay results. Fourteen (14) core rigs are currently operating meeting New Found’s targeted drill count for Q2.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and composite intervals are calculated using a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au.
All drilling recovers HQ core. Drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A professional geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades. Once all sample intervals have been chosen, photos of the wet and dry core are taken for future reference.
Technicians saw the core along the defined cut-line. One-half of the core is kept as a witness sample and the other half is submitted for crushing, pulverizing, and assaying. Individual sample bags are sealed and placed into shipping pails and/or nylon shipping bags, sealed and marked with the contents.
Drill core samples are shipped to ALS Canada Ltd. (“ALS”) for sample preparation in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick; an ISO-17025 accredited laboratory. ALS operates under a commercial contract with New Found.
The entire sample is crushed to approximately 70% passing 2 mm. A 3,000-g split is pulverized. “Routine” samples do not have visible gold (“VG”) identified and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry (“ICP”) finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire assayed and two splits of the fine fraction (sized less than 106 microns) are fire assayed. The three assays are combined on a weight-averaged basis.
Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for gold.
All sample pulps are also analyzed for a multi-element ICP package (ALS method code ICP61).
Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found’s quality control protocols.
New Found’s quality control program also includes submission of the second half of the core for approximately 5% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this news release have been verified by the Company’s Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this press release dated September 13, 2022, by New Found. Mr. Matheson certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 63% complete. The Company is well funded for this program with cash and marketable securities of approximately $71 million as of September 2022.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company’s Queensway gold project in Newfoundland and Labrador; assay results; the interpretation of drilling and assay results, the results of the drilling program, mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the timing of same; the merits of the Queensway project;; future press releases by the Company; and funding of the drilling program. 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," “interpreted,” "intends," "estimates," "projects," "aims," “suggests,” “often,” “target,” “future,” “likely,” “pending,” "potential," "goal," "objective," "prospective," “possibly,” “preliminary”, and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated 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 assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005571/en/
GLM.ca $GOLXF Golden Lake Reports Phase 2 Drill Results; Intercepts 3.31 G/T Gold and 209.5 G/T Silver Over 3.96 Metres From the Hamburg Mine Zone, Jewel Ridge Project, Nevada
by @accesswire on 9 Sep 2022, 05:00
VANCOUVER, BC / ACCESSWIRE / September 9, 2022 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (OTCQB:GOLXF) is pleased to report remaining assay results from its Phase 2 diamond drill program, on the Company's keystone Jewel Ridge Property ("Property"), located in the prolific Eureka gold district, Nevada (Table 1). The Jewel Ridge property is located along strike and contiguous to I-80 Gold Corp.'s Archimedes/Ruby Hill gold mine to the north, Paycore Minerals Inc.'s FAD property to the northwest, and Timberline Resources' advanced-stage Lookout Mountain project to the south1. Drilling comprised 9 holes (1,513.3 metres) on the Hamburg Zone at the south end of the Property, and the initial drilling on the Catlin Zone comprised of 2 holes (398.9 metres) (Table 2). As previously reported the Hamburg Zone returned a significant intercept of 26.37 metres averaging 5.38 grams gold per tonne (g/t Au) from a shallow depth of 42.64 metre in hole JR-22-36DD (press release March 23, 2022).
A total of 11 holes (1.912.3 metres) are reported in this press release, including holes JR-22-39DD to JR-22-50 DD (note JR-22-43DD was lost) (Tables 1 and 2). Highlights of the drill program include:
Highest grade intercept was returned in hole JR-22-50DD on the Hamburg Zone from a depth of 132.28 metres, returning 3.31 g/t Au, and 209.5 g/t Ag with 1.55 percent(%) lead (Pb) and .70 % zinc (Zn) over a core width of 3.96 metres.
The most significant intersection (based on core width times gold grade) was returned in hole JR-22-40DD, on the Hamburg Zone, averaging 41.15 metres over a core width of 1.05 g/t Au and 3.9 g/t Ag, from a depth of 128.63 metres,
Only two holes were drilled on the Catlin Zone, and both returned higher silver values associated with Carbonate Replacement Deposit ("CRD") mineralization. Hole JR-22-45DD returned 0.17 g/t Au and 308.6 g/t Ag over 4.05 metres from a depth of 62.09 metres, and hole JR-22-46DD returned 5.23 g/t Au and 84.0 g/t Ag over 1.52 metres from a depth of 9.75 metres. Additional drilling is required to determine the extent and orientation of CRD mineralization at the Catlin Zone.
The Hamburg target is approximately 1.8 kilometres south-southeast of the Eureka Tunnel target, where the Company was actively exploring throughout most of 2021. At the Hamburg Mine, historic gold production from the underground and open pit workings, and previous exploration activities had focused on oxide gold mineralization in the Hamburg Dolomite unit, and/or at the contact of the Hamburg Dolomite with the Dunderberg Shale.
1The mines and exploration projects in the Eureka District provide geologic context for the Jewel Ridge Property, but this is not necessarily an indication that the Project hosts similar grades or tonnages of mineralization.
TABLE 1: DRILL RESULTS
HOLE
ZONE
FROM
TO
LENGTH
GOLD
SILVER
LEAD
ZINC
INTERVAL
ID
NAME
(m)
(m)
(m)
(g/t)
(g/t)
(%)
(%)
COMMENTS
JR-22-39DD
Hamburg
5.18
15.85
10.67
0.36
3.7
0.21
0.37
CRD-Hamburg Dolomite
15.85
29.57
13.72
0.76
5.6
0.32
0.47
CRD-Hamburg Dolomite
37.19
43.37
6.19
0.42
6.3
0.09
2.28
CRD-Hamburg Dolomite
65.65
87.48
21.82
0.15
2.9
N/A
N/A
Carlin-Hamburg Dolomite
159.41
168.25
8.84
0.16
1.3
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-40DD
Hamburg
73.76
80.80
7.04
0.30
2.4
N/A
N/A
Carlin-Hamburg Dolomite
107.41
117.96
10.55
0.77
1.6
N/A
N/A
Carlin-Hamburg Dolomite
127.10
146.91
19.81
0.41
2.0
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-41DD
Hamburg
128.63
169.77
41.15
1.05
3.9
N/A
N/A
Carlin-Hamburg Dolomite
including
136.25
142.34
6.10
4.35
6.6
N/A
N/A
Carlin-Hamburg Dolomite
186.54
198.73
12.19
0.17
0.9
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-42DD
Hamburg
66.14
90.53
24.38
1.35
2.9
N/A
N/A
Carlin-Hamburg Dolomite
including
70.71
74.52
3.81
6.58
12.6
N/A
N/A
Carlin-Hamburg Dolomite
99.67
108.14
8.47
0.27
0.8
N/A
N/A
Carlin-Hamburg Dolomite
111.86
117.96
6.10
0.14
3.4
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-44DD
Hamburg
46.33
58.52
12.19
0.25
1.9
N/A
N/A
Carlin-Hamburg Dolomite
87.48
96.62
9.14
0.20
1.3
N/A
N/A
Carlin-Hamburg Dolomite
125.58
131.67
6.10
0.30
1.4
N/A
N/A
Carlin-Hamburg Dolomite
143.87
163.68
19.81
0.17
0.3
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-45DD
CATLIN
62.09
66.14
4.05
0.17
308.6
N/A
N/A
CRD
152.67
169.77
17.10
0.33
6.6
N/A
N/A
CRD
JR-22-46DD
CATLIN
2.13
6.71
4.57
0.39
31.5
0.63
1.25
CRD
9.75
11.28
1.52
5.23
84.0
1.39
0.9
CRD
JR-22-47DD
Hamburg
89.00
114.91
25.91
0.23
1.3
N/A
N/A
Carlin-Hamburg Dolomite
including
107.29
108.69
1.40
1.61
3.4
N/A
N/A
Carlin-Hamburg Dolomite
148.44
161.24
12.80
0.42
6.1
N/A
N/A
Carlin-Hamburg Dolomite
including
157.58
160.63
3.05
0.93
1.6
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-48DD Hamburg
101.19
113.39
12.19
0.14
1.8
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-49DD Hamburg
0.00
3.66
3.66
5.54
44.1
2.44
0.93
Dump
JR-22-50DD
Hamburg
104.24
113.39
9.14
0.25
1.4
N/A
N/A
Carlin-Hamburg Dolomite
121.01
137.77
16.76
1.12
54.3
0.48
0.40
CRD-Hamburg Dolomite
including
132.28
136.25
3.96
3.31
209.5
1.55
0.70
CRD-Hamburg Dolomite
Drilling has stopped on the Jewel Ridge project while the Company awaits the approval of the comprehensive Plan of Operation (PoO) over most of the Jewel Ridge property. EM Strategies, based in Reno, Nev., has led the preparation and submission to the Bureau of Land Management (BLM) for the PoO process. The Jewel Ridge PoO represents a significant stage and asset for the company, as the baseline studies completed (biological, hydrological, and archeological) will be essential for any future development of a gold deposit on the property. The PoO over the property, and the larger disturbance allowance, will give the company more flexibility in planning and permitting future drill sites.
The Company has recently completed a ground gravity survey over the entire Jewel Ridge property. The survey was contracted to MaGee Geophysical Services and the results are currently being reviewed by Golden Lake geologists.
Drilling Quality assurance and quality control statement
The HQ- and PQ-sized drill core reported in this news release was logged and prepared at the Golden Lake Exploration core facility in Eureka, Nevada, where it was cut, bagged and prepared for analysis before submittal Paragon Geochemical Laboratories Inc., Nevada, USA. Core rock samples were analyzed using a multi-element analysis with ICP-MS analytical package ("50AR-MS"; aqua regia digestion). Over limit sample values were re-assayed for: (1) values of copper >1%; (2) values of zinc >1%; (3) values of lead >1%; and (4) values of silver >100 g/t using the high-grade material ICP-OES analytical package ("OLAR-OES"). Gold and Silver fire assays established gold and silver grades using 30 gram samples ("Au-AA30; Ag-AA30) with overlimit gold (5 ppm) and silver (100 ppm) fire assays by gravimetric finish (Au-GRAV; Ag-GRAV). Certified standards, blanks, and duplicates were inserted into the sample shipment to ensure integrity of the assay process. Selected samples were chosen for duplicate assay from the coarse reject and pulps of the original sample. No QA/QC issues were noted with the results reported.
Golden Lake Exploration Inc., Thursday, September 8, 2022, Press release pictureGolden Lake Exploration Inc., Thursday, September 8, 2022, Press release picture
TABLE 2: DRILL HOLE COLLAR INFORMATION
Hole
Easting
Northing
Elevation
Depth
Azimuth
Inclination
ID
(Metres)
(Metres)
(Metres)
(Metres)
(Degrees)
(Degrees)
JR-22-39DD
587958
4368793
2343
203.30
-50
180
JR-22-40DD
588031
4368725
2370
156.06
-50
214
JR-22-41DD
588014
4368737
2368
213.97
-65
220
JR-22-42DD
588027
4368727
2369
183.49
-50
263
JR-22-43DD
587968
4368800
2343
29.57
-70
210
JR-22-44DD
587966
4368797
2343
183.49
-70
210
JR-22-45DD
587825
4369537
2291
215.49
-50
320
JR-22-46DD
587823
4369540
2291
183.49
-50
272
JR-22-47DD
588000
4368313
2391
178.00
-50
65
JR-22-48DD
587997
4368381
2382
183.49
-50
65
JR-22-49DD
588086
4368640
2350
40.23
-50
246
JR-22-50DD
588083
4368574
2367
171.30
-50
245
About the Jewel Ridge Property
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to I-80 Gold Corp.'s Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The mines and exploration and development projects in the Battle Mountain-Eureka Trend provide geologic context for the Jewel Ridge Property, but this is not necessarily indicative that the Project host similar grades or tonnages of mineralization.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Qualified person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Daniel MacNeil, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain-Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The Company also owns a large (37.814 hectare) early-stage property in south-central British Columbia, contiguous to Kodiak Copper Corp., and Gold Mountain Mining Inc., that is highly prospective for copper-gold porphyry and mesothermal gold-bearing quartz-vein mineralization.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/715302/Golden-Lake-Reports-Phase-2-Drill-Results-Intercepts-331-GT-Gold-and-2095-GT-Silver-Over-396-Metres-From-the-Hamburg-Mine-Zone-Jewel-Ridge-Project-Nevada
WHN.v Westhaven Drills 30.58 Metres of 1.06 g/t Gold and 4.09 g/t Silver and 21.90 Metres of 1.84 g/t Gold and 4.79 g/t Silver at FMN Zone; Drills 6.00 Metres of 1.23 g/t Gold and 0.48 g/t Silver at Newly Discovered Zone at the Shovelnose Gold Property by @GlobeNewswire on 8 Sep 2022, 06:00
Westhaven Drills 30.58 Metres of 1.06 g/t Gold and 4.09 g/t Silver and 21.90 Metres of 1.84 g/t Gold and 4.79 g/t Silver at FMN Zone; Drills 6.00 Metres of 1.23 g/t Gold and 0.48 g/t Silver at Newly Discovered Zone at the Shovelnose Gold Property
VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres (km) south of Merritt, British Columbia.
Highlights include:
FMN Zone
SN22-278 intersected 1.84 g/t gold (Au) and 4.79 g/t silver (Ag) over 21.90 metres (m) starting 44m downhole and 3.90m of 4.33 g/t Au and 9.61 g/t Ag starting 62m downhole (Section FMN F0525).
SN22-281, an undercut to SN22-278, intersected 30.58m of 1.06 g/t Au and 4.09 g/t Ag.
SN22-263 intersected 0.60m of 3.11 g/t Au and 287.00 g/t Ag, and 1.13m of 2.31 g/t Au and 173.44 g/t Ag.
Current drilling (Section FMN F0900) continues to expand the main mineralized structure, Vein Zone 1, along strike to the northwest.
Discovery of a new gold bearing zone situated 1.2 km northeast of the South Zone (HydBx-02)
SN22-249 intersected 3.28 g/t Au over 0.9m.
SN22-257 intersected 1.39 g/t Au over 1.2m and another 1.23 g/t Au over 6m.
Two holes are 380m apart indicating a potential northwest-southeast trending mineralized zone that is open in both directions.
Westhaven has drilled approximately 31,000m in 108 holes (to SN22-302) at Shovelnose in 2022.
Gareth Thomas, President & CEO, comments: “Drilling at the Shovelnose Gold Project continues to increase the size and scale of mineralization on this largely underexplored property. The newly discovered Hydrothermal Breccia No.2 target (6.00m of 1.23 g/t gold and 0.90m of 3.28 g/t Au) is very significant as it is located approximately 1.2 kilometres from and parallel to Vein Zone 2 and remains open both to the northwest and southeast. Follow-up work is ongoing to test the potential of this new area of interest.”
Peter Fischl, Exploration Manager adds: “Recent drilling at FMN continues to encounter broad intervals of mineralization hosted in heterolithic breccia containing quartz fragments derived from Vein Zone 1. These near surface intercepts, as seen in holes SN22-278 and SN22-281 on section F0525, add a "bulk tonnage" component to the economic potential at FMN. Vein Zone 1 at FMN continues to be traced to the northwest, with recent intercepts on section F0850 in holes SN22-298 and 299 (assays pending).
Drilling on peripheral targets off the main northwest trending 4km-long gold-bearing structure hosting Vein Zone 1 has encountered a new subparallel vein zone at the Hydrothermal Breccia No. 2 target. A series of east-northeast directed drill holes on two sections spaced 300 metres apart has intersected a west-northwest striking zone of quartz-carbonate veining in the granodiorite basement over a strike length of 400 metres in holes SN22-249 and SN22-257. This zone is 1.2km east-northeast of Vein Zone 2 at South Zone. The zone remains open along strike.”
Exploration Targets
At the Shovelnose gold property, the primary focus of Westhaven’s 2022 drilling is to test the potential for additional gold and silver mineralization along the 4km ‘main mineralized’ structure hosting the South, Tower, FMN and Franz Zones. However, a component of the 2022 work program is designed to evaluate geological, geochemical and geophysical targets elsewhere on the 17,623ha property. As assay wait times continue to grow, and as the Company waits to receive assays to assist for targeting purposes for drilling along the main mineralized structure, Westhaven has taken the opportunity to test exploration targets off trend. Of the holes being reported today, 14 are associated with testing three exploration targets.
Surface exploration has identified several hydrothermal breccias, quartz veining and alteration halos in outcrop that are reminiscent of those associated with gold mineralization at the South Zone (791,000 ounces of gold and 3,894,000 ounces of silver Indicated plus 263,000 ounces of gold and 1,023,000 ounces of silver Inferred; see Press Release January 10, 2022).
Hydrothermal breccias are typical of low sulphidation epithermal systems and develop where mineral rich fluids interact with fractured rock. During work in 2020 and 2021, Westhaven identified 15 zones of hydrothermal brecciation, with surface assays returning up to 0.5g/t gold in select grab samples.
The 14 holes being reported today were completed to test three exploration targets. One of these three exploration targets tested has lead to the discovery a new gold bearing zone. HydBx-02, situated 1.2km northeast of the South Zone, and off the main mineralized trend (see map), was tested by seven drill holes. Full results are provided in table below. The best gold intersections occur in hole SN22-249 (3.28 g/t Au over 0.9m) and SN22-257 (1.39 g/t Au over 1.2m and 1.23 g/t Au over 6m).
These intersections are significant because:
(1) this is a new gold bearing area, confirmed by drilling, and offset some 1.2km from the main mineralized structure,
(2) veining was encountered in both the traditional felsic volcanic host rocks as well as in the granodiorite unit - thought to be the local geologic basement at Shovelnose and potentially opening up new areas for exploration,
(3) alteration haloes – derived from pathfinder elements in drill core (not reported herein) - suggest development of a low sulphidation epithermal system offset from the main trend (relationship, if any, unclear at the present time)
(4) drilling coverage at HydBx-02 is limited, with upside potential above, below and between the current drill intersections,
(5) HydBx-02 remains open to both the northwest and southeast, and
(6) additional similar surface exposures of hydrothermal brecciation elsewhere on the property remain to be tested by drilling.
Westhaven’s ongoing mapping, prospecting and rock sampling are currently focussed in areas burned by the 2021 July Mountain wildfire, which exposed previously unknown outcrops. This geological program will be expanded elsewhere on the property later in the season. Other components of the 2022 program at Shovelnose include stream sediment sampling following up anomalous results from an earlier program indicative of potential gold mineralization at sites up to 10km from the main mineralized trend. Westhaven expects to develop new target areas from this work, as well as additional exploration activities in progress.
FMN Zone
The drilling of two holes on section F0525, holes SN22-278 and 281, has intersected wide intervals of mineralized quartz-bearing breccia. The shallow nature of these intercepts adds to the “open-pit” potential of the breccia target at FMN.
Hole SN22-263 was drilled on section F0300 and targeted the southeastern extension of a deeper zone of silver-rich mineralization at FMN centred at 1190m elevation. This hole intersected Vein Zone 1 at 211.6 to 284m and included quartz vein intercepts of up to 6.0m (e.g. at 212.42 to 218.42m). Several of these veins returned gold-silver assays with significant silver as follows; 1.43 g/t Au and 146.18 g/t Ag over 1.50m (213.5-215.0m) and 2.31 g/t Au and 173.44 g/t Ag over 1.13m (248.05-249.18m). Vein Zone 1 continues to be traced to the northwest, being recently intersected on section F0850 at FMN in holes SN22-298 and 299 (awaiting assays).
Alpine Zone
5 drillholes were completed on section S0500, the furthest northwest section completed to date at the Alpine zone. Anomalous gold associated with Vein Zone 2 was intersected in four of the five holes drilled on this section. Zone 2 remains open to the northwest, where there is an additional 150 metres of untested strike length before linking up with the Tower Showing, an area of historic drilling dating back to 2011 that tested the surface outcropping of Vein Zone 2. The zone remains a potential open pit target here due to its shallow nature and flat lying geometry at Alpine and Tower.
Recent drill results are summarized here:
Grade Summary
Hole_ID Zone From (m) To (m) Int (m) Au (g/t) Ag (g/t) High Au (ppb)
SN22-247 Alpine 77.50 78.00 0.50 0.77 2.92 771
and 94.00 95.00 1.00 0.45 1.41 450
SN22-248 Alpine 127.02 129.00 1.98 0.27 3.62 269
SN22-272 Alpine 42.00 42.97 0.97 0.70 4.44 701
SN22-274 Alpine 27.45 41.00 13.55 0.30 1.84 1115
and 81.00 83.02 2.02 0.32 1.35 558
and 90.00 97.00 7.00 0.28 2.18 639
SN22-275 Alpine 45.00 46.00 1.00 0.59 2.80 585
and 113.02 114.00 0.98 0.37 1.81 368
and 156.00 156.84 0.84 0.44 1.16 440
SN22-277 Alpine 104.73 108.98 4.25 0.29 2.83 651
SN22-279 Alpine no significant assay 226
SN22-246 FMN 408.79 409.63 0.84 0.28 0.69 277
SN22-250 FMN 318.00 324.02 6.02 0.26 30.19 925
including 320.00 321.00 1.00 0.93 110.00 925
SN22-253 FMN 100.00 101.65 1.65 0.34 1.13 338
and 191.00 194.00 3.00 0.41 0.19 412
and 253.00 254.00 1.00 0.37 9.23 372
SN22-255 FMN 367.71 371.78 4.07 0.43 62.48 702
SN22-259 FMN no significant assay 223
SN22-261 FMN 118.00 119.00 1.00 0.30 1.66 302
SN22-263 FMN 213.50 215.00 1.50 1.43 146.18 3110
including 213.50 214.10 0.60 3.11 287.00 3110
and 248.05 249.18 1.13 2.31 173.44 2560
SN22-265 FMN no significant assay 190
SN22-267 FMN no significant assay 35
SN22-269 FMN no significant assay 247
SN22-271 FMN no significant assay 74
SN22-273 FMN 134.98 143.00 8.02 0.29 1.45 417
SN22-276 FMN no significant assay 66
SN22-278 FMN 44.00 65.9 21.90 1.84 4.79 10700
including 62.00 65.90 3.90 4.33 9.61 10700
including 62.00 63.00 1.00 10.7 8.39 10700
SN22-280 FMN 310.00 322.17 12.17 0.85 55.13 2590
SN22-281 FMN 33.05 77.97 44.92 0.54 3.08 6710
including 65.69 67.58 1.89 4.11 16.83 6710
including 66.68 67.58 0.90 6.71 27.60 6710
and 97.00 127.58 30.58 1.06 4.09 7160
including 109.04 112.00 2.96 3.69 14.40 7160
including 111.03 112.00 0.97 7.16 32.30 7160
including 116.65 123.34 6.69 1.98 5.81 3370
and 165.70 194.55 28.85 0.36 2.46 3350
including 165.70 168.36 2.66 0.86 6.32 1165
including 174.85 185.41 10.56 0.59 2.91 3350
SN22-260 Othello no significant assay 58
SN22-262 Othello 126.00 129.00 3.00 0.32 0.04 316
SN22-262b Othello no significant assay 36
SN22-249 HYD BX 02 239.08 240.00 0.92 3.28 0.90 3280
SN22-251 HYD BX 02 no significant assay 44
SN22-252 HYD BX 02 no significant assay 57
SN22-254 HYD BX 02 no significant assay 21
SN22-256 HYD BX 02 no significant assay 21
SN22-257 HYD BX 02 138.86 140.06 1.20 1.39 0.76 1385
and 153.00 159.00 6.00 1.23 0.48 1310
SN22-258 HYD BX 02 no significant assay 51
SN22-264 HYD BX 04 no significant assay 32
SN22-266 HYD BX 04 no significant assay 33
SN22-268 HYD BX 04 no significant assay 4
SN22-270 HYD BX 04 no significant assay 6
Please click the following link to the 2021 & 2022 drill database tables of assay results:
2021 & 2022 drill database: https://www.westhavengold.com/projects/shovelnose-gold/maps/
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.
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.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Maps accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b6d26a5e-4db9-43aa-aeca-9353d742a2c6
https://www.globenewswire.com/NewsRoom/AttachmentNg/9608f3cc-e7e6-4287-a18d-85eebedf0029
https://www.globenewswire.com/NewsRoom/AttachmentNg/c60f354d-fb8e-43fa-8012-2e342dd56a5d
Primary Logo
Image 1
PLAN MAP
Image 2
PLAN MAP SHOWING EXPLORATION TARGETS
Image 3
CROSS-SECTION
BARU.v $BARUF Baru Gold Provides Update on Appeal Filed Against Ministry of Energy and Mineral Resources in Indonesia
by @thenewswire on 6 Sep 2022, 06:01
(TheNewswire)
Baru Gold Corp.
September 6, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) wishes to provide an update on the appeal of a lawsuit filed in Jakarta, Indonesia on June 23, 2021, against the Ministry of Energy and Mineral Resources (the “MEMR”), the government department which issued the operational mining permit to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”). While Baru was not named in the lawsuit, the court granted permission for a representative of Baru to attend the proceedings in support of MEMR, as it relates to the mining permit that was granted to TMS.
On April 20, 2022, the lawsuit against the MEMR was dismissed. On May 9, 2022, the plaintiff filed an appeal and on September, 2, 2022, the appeal was successful and the April ruling was overturned.
The reasons for the decision have not yet been released. The Company will be holding meetings with the MEMR this week to discuss this recent court decision and the next steps required to ensure the Company continues towards our goal of completion of construction and start of production on the project.
Terry Filbert, CEO of Baru Gold, commented “It is important to note that this decision only pertains to the operational mining permit issued in February of 2021. TMS continues to hold a valid Contract of Work (“CoW”) with the Indonesian government which remains unaffected by the decision against the MEMR. We are disappointed with the court decision, however, the CoW permits TMS to explore our licenced area. The Company can and will proceed with the planned resource development program of infill drilling to upgrade some of the inferred resources into indicated and measured resource status.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
ILI.v $ARXRF Imagine Lithium Reports High Grade Li20 in Grab Samples Taken from Newly Identified 3 km Trend of Lithium-Bearing Pegmatites at Jackpot
by @newsfile on 7 Sep 2022, 04:01
Vancouver, British Columbia--(Newsfile Corp. - September 7, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") is pleased to announce assay results from its ongoing prospecting program on the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario. Based on the summer prospecting program, Imagine Lithium has identified a 3 km trend of sub-parallel spodumene-bearing pegmatite dikes that extends to the east and west of the Jackpot main drilling area. See Figure 1 which outlines the approximately 18,800-hectare Jackpot Lithium property and trend. Today's assay results from 57 granitic pegmatite samples collected from the south-west of Jackpot are displayed in Figure 2 and Table 1 and contain multiple high grade Li2O grab samples. Grab samples were also taken from dikes in the north-eastern portion of this 3 km trend and assay results are pending. Figure 3 indicates the location of spodumene-bearing pegmatites that have been identified elsewhere on the property.
J.C. St-Amour, President of Imagine commented, "Our summer prospecting program has been a complete success with multiple new lithium-bearing dikes being identified on just a small portion of this vast property. Our geologist did not venture far from our main Jackpot zone to identify and sample new lithium-bearing dikes. Given our prospecting success in the immediate vicinity of our drilling area I am very encouraged about the potential for this property to host many additional dikes. In the meantime, this 3 km trend will be the focus of our next fall/winter drill program."
St-Amour continued, "One of the best features of this project is its location and proximity to infrastructure, being a short drive from the major port of Thunder Bay. Below is a link to a short video of the property which shows several outcrop dikes as well as the project's proximity to infrastructure, which is key to the economics of any mining operation in the future."
Link to Jackpot Video
ILI.v $ARXRF Georgia Lakes district neighbour lithium co making some deals ...Strategic partnership: Mercedes-Benz intends to source battery material lithium hydroxide from Rock Tech Lithium https://ceo.ca/@newswire/strategic-partnership-mercedes-benz-intends-to-source
RKL.ca Rockland Resources Assays 2,155 PPM Lithium Over 8.0 Metres in Channel Samples at Lithium Butte Claystone Property, Utah
by @accesswire on 23 Aug 2022, 05:01
VANCOUVER, BC / ACCESSWIRE / August 23, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to report encouraging assay results on channel samples from lithium-mineralized claystones on the Lithium Butte Property in Juab County, Utah, USA. Channel samples returned a continuous interval of 25.2 metres at 1,388 parts per million ("ppm") lithium ("Li") including 8.0 metres at 2,155 ppm Li, and 0.7 metres at 3,540 ppm Li.
The 4,460 ha (11,020 acre) Lithium Butte Property is located in the Basin and Range geological province of west-central Utah and is interpreted to be highly prospective for lithium (Li) and beryllium (Be) mineralization hosted in claystone volcanic tuff-breccia units.
Twenty-one (21) channel samples were taken from an exposed outcropping of claystone on the Property in July 2022. Fifteen (15) channel samples with lengths from 1.0 to 2.0 m were taken from a single stratigraphic section of claystone exposed beneath the rhyolite cap rock that forms the top of the exposed butte. The total length of the main channel section (15 samples) is 27.0 m. True stratigraphic thickness is estimated at approximately 70% of the channel length. This main channel section returned 25.2 m at 1,388 ppm Li. The lower portion of the mineralized section returned a higher-grade interval of 8.0 m at 2,155 ppm Li. The sampled section represents the upper part of the prospective unit and the mineralization is open at depth. Sample locations are illustrated in Figures 1 and 2.
Additionally, two shorter channel sections, each with 3 channel samples, were taken over the exposed outcrop of the prospective unit, from 15 m northwest and 28 m southeast along strike from the main channel. These shorter sections returned 1,732 ppm Li over 1.25 meters and 1,925 ppm Li over 1.7 meters, respectively. The shorter channels indicate Li claystone mineralization over a strike length of at least 43 m with mineralization being open along strike and below the channels. The southeast channel section contained the highest-grade lithium mineralization in this sampling program with 0.7 m grading 3,540 ppm Li.
Figure 1. Photograph of mineralized outcrop, Lithium Butte Property showing location of channel samples
Rockland Resources Ltd., Tuesday, August 23, 2022, Press release picture
Figure 2. Rockland Resources Ltd. Lithium Butte Property, Juab County, Utah - Stratigraphic Section showing relative position of channel sample assay results
Rockland Resources Ltd., Tuesday, August 23, 2022, Press release picture
Dr. Richard Sutcliffe, Rockland's President stated "These channel sample results are an excellent validation of the initial grab sample results from this Project that Rockland reported in June. Importantly, the samples confirm a significant stratigraphic thickness of lithium-rich mineralization on the Property. To advance our exploration program, we have recently established an office in Delta, Utah and are in the process of setting up a facility to provide rapid analysis of rock and soil samples using a Laser Induced Breakdown Spectrometer (LIBS). This technology will allow Rockland to quickly evaluate additional exploration and drill targets. We look forward to developing this program to evaluate regional lithium mineralized claystone targets in the Basin and Range Province of Utah. The Company is currently staking additional claims and we will provide additional Property details once staking has been completed."
Rockland has an initial 90% interest in the original Lithium Butte property (60 claims - 1,200 acres) with the remaining 10% interest held by an arms-length third party. All remaining claims were staked by Rockland and are owned 100% by the Company. There is a 1.5% Net Smelter Royalty ("NSR") payable to the same arms-length third party on both the original Lithium Butte property and all claims being acquired in the area.
Assay Program QA/QC - Channel sampling at Lithium Butte was carried out under the supervision of Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101. Dr. Sutcliffe is also responsible for reviewing and approving the geological contents of this news release as they pertain to the Lithium Butte Claystone Property.
Samples were couriered in sealed bags to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis was performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
Cole Gold Mines Property - Rockland is pleased to announce that it has issued 480,769 common shares and paid $100,000 cash in satisfaction of the final option payment to Mr. Greg W. Smith pursuant to the Company's option agreement dated March 29th, 2021 entered into between the Company, Wabassi Resources ULC (Wabassi) and Greg W. Smith, whereby the Company can acquire a 100% interest in the "Cole Gold Mine Property" ("Property"), located in Ball Township, Red Lake Mining District. To acquire 100% interest, Rockland now has a final option payment of $150,000 cash and 1,442,307 shares due to Wabassi. Rockland has recently engaged Mr. Matthew Long, P.Geo., to complete an updated NI43-101 technical report on the Property.
First Phase Capital
The Company has engaged First Phase Capital to provide awareness and IR services to its marketing initiatives for six months. Pursuant to the terms of the First Phase Capital agreement, First Phase will be paid $50,350 in cash plus GST. The scope of the marketing initiatives includes full cycle lead generation & nurturing including paid advertising, email marketing, IR follow up, and lead management. First Phase Capital is a boutique digital growth partner for private and public companies looking to ultimately grow their investor database. First Phase Capital is arm's length to the Company and does not currently own any securities of the Company.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds an option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Gold Mines Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/713186/Rockland-Resources-Assays-2155-PPM-Lithium-Over-80-Metres-in-Channel-Samples-at-Lithium-Butte-Claystone-Property-Utah
ILI.v $ARXRF Imagine Lithium Expands Lithium Zone at Jackpot Project By 400 m and Grants Stock Options
by @newsfile on 17 Aug 2022, 04:01
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) is (the "Company" or "Imagine") pleased to announce assay results from its ongoing drill program. The drill program is designed to test targets along strike both to the east and west of the Jackpot lithium project located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario. This first phase of the program expanded the mineralized lithium zone at least 400 metres to the east of the previously drilled area (see Figure 1).
Highlights of the assay results reported today include:
Hole JP-2022-04: 10 m @ 0.90% Li2O, including 3 m @ 1.2% Li2O and 10 m @ 0.89% Li2O, including 4 m @ 1.15 % Li2O;
Hole JP-2022-19: 2.9 m @ 1.31% Li2O and 3.1 m @ 1.23% Li2O;
Hole JP-2022-18B: 12.45 m @ 0.69% Li2O including 3.01 m @ 1.09% Li2O
Figure 1: Assay Results From 2022 Drill Program.
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J.C. St-Amour, President of Imagine commented, "We are encouraged to see the Jackpot pegmatite dikes continuing to the east by at least 400 m. We are seeing similar assay results in this area as in the main Jackpot project and are confident that we will see further growth with more drilling. In addition, we are conducting a ground prospecting program to identify other lithium targets 2 to 3 km along strike from the main Jackpot area."
Table 1: Assay Results From 2022 Drill Program.
DDH_no Li2O (wt. %) From (m) To (m) Length (m)
JP-2022-03 1.18 69.00 72.00 3.00
JP-2022-04 0.90 3.00 13.00 10.00
Incl. 1.20 3.00 6.00 3.00
0.89 102.00 112.00 10.00
Incl. 1.15 102.00 106.00 4.00
JP-2022-05 0.66 161.57 165.50 3.93
JP-2022-07 0.71 97.00 100.59 3.59
0.80 115.95 120.00 4.05
JP-2022-17 0.44 6.70 9.70 3.00
JP-2022-17C 1.28 3.74 7.74 4.00
JP-2022-18B 0.69 90.00 102.45 12.45
Incl. 1.09 94.50 97.51 3.01
JP-2022-19 1.31 18.55 21.45 2.90
1.23 42.54 45.62 3.08
JP-2022-20 0.72 86.00 90.00 4.00
JP-2022-21 1.05 111.00 116.80 5.80
J-18-M-04* 1.28 36.00 44.00 8.00
J-18-M-03* 1.02 66.20 75.00 8.80
J-18-M-02* 0.81 77.30 80.00 2.70
0.43 82.00 86.20 4.20
J-18-M-01* 0.69 80.00 84.00 4.00
* Previously reported in press release of May 11, 2022.
- Holes JP-2022-07, 08, 09, 14, 15, and 16 are awaiting assay results
- Holes JP 2022-10, 11, 12, and 13 will be drilled in the winter for better access
The drill program is ongoing and is designed to test possible extensions of the Jackpot deposit along a known lithium baring trend. The Company will release drilling and sampling results as they become available.
Stock Option Distribution
Further, the Company announces that the board of directors has conducted its annual compensation review and will grant 3,200,000 options to officers, directors, and consultants to the company pursuant to its stock option plan. Given the coincident timing of these drill results, the options will be granted effective August 19, 2022, will be exercisable for a period of 5 years at a price equivalent to the closing price of the Company's stock on the TSX-Venture Exchange on August 19, 2022, and vest immediately.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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GMG.v $GMGMF GMG Announces Phase 1 Expansion Project to Graphene Manufacturing Facility for Energy Saving Products and Batteries
by @newsfile on 17 Aug 2022, 03:00
Brisbane, Queensland, Australia--(Newsfile Corp. - August 17, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG " or the "Company") is pleased to advise that the Company has taken a Final Investment Decision ("FID") on Phase 1 of its graphene manufacturing expansion project. The expansion project includes an executed 5 year lease to expand total office and warehouse space to 3,500 square metres, the next generation of the Company's proprietary graphene production technology with enhanced automation, a micro-grid with energy storage component to improve commercial and environmental electricity supply for the production process, and an infrastructure corridor to allow rapid scaling of further graphene manufacturing capacity during future phases of the graphene manufacturing expansion project. The project will be managed and executed by the Company's engineers with Wood engineering (the Company's graphene manufacturing scaling engineering service supplier) providing safety, assurance and design review services.
Following positive potential customer feedback from G+AI battery coin cell prototype testing, and ongoing enhancements to the Company's unique graphene production process, the Company believes enhanced and expanded production facilities are now appropriate.
The lease commitment of the additional new office and warehouse space of 1,500 square metres, which is adjacent to the existing Company leased 2,000 square metre office and warehouse, is intended to accommodate new staff and expand graphene manufacturing capacity.
The Phase 1 expansion project is expected to provide ample graphene supply for the production of the Company's graphene aluminium-ion battery ("G+AI Battery") coin cells, as well as the Company's energy saving liquid graphene products. The total investment of approximately AU$1.5 million is expected to be fully commissioned by first half of 2023. This project was envisaged in the September 2021 market raise but now also includes costs to relocate all of GMG's existing graphene manufacturing capacity adjacent to its new headquarters and Battery Development Centre ("BDC") in Brisbane, Australia.
GMG's Managing Director and CEO, Craig Nicol, commented: "Taking FID on this project is not only a reflection on the level of confidence we have in manufacturing high quality graphene for our applications at scale, it's also a reflection of our confidence to commercialise energy savings and energy storage applications in the near term. It is very pleasing to see that we are now scaling up our graphene manufacturing capacity using the propriety process that we developed ourselves since 2017."
A potential subsequent FID for further expanded graphene production which is expected to be located in the new warehouse space, will be considered upon the maturing of targeted commercialisation opportunities for either the Company's G+AI Battery and energy saving liquid graphene products. The newly leased site is expected to have enough space to enable multiple such increases of production.
By increasing the use of solar power, co-generation and energy storage systems, electricity supply will be largely self-sufficient and achieve a lower carbon emissions footprint for the production facility.
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the FID on Phase 1 and a subsequent second phase of the manufacturing plant expansion project; Wood's participation in the expansion project; the timing and cost of completion of Phase 1; the enhancements to the production facility stemming from the completion of Phase 1 and subsequent phases; the ability of the expansion project to provide adequate graphene to produce G+AI battery coin cells and liquid graphene products; the production, commercialisation, scaling, quality and application of G+AI battery coin cell and the Company's energy saving liquid graphene products; and the impact, use and capability of the expanded facility.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to uncertain demand for the Company's products, the effectiveness of Company's deployment of resources, including its personnel, the intention of the Company to develop and produce certain products, that the Company will not be successful in expanding the production facility as expected, uncertainty regarding costs of expanding the facility, that the results of the expanded facility will not be aligned with management's expectations, and that the production, commercialisation, scaling, quality and application of the G+AI battery coin cell and the Company's energy saving liquid graphene products will differ from expectations.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company's resources and personnel, that the Company will be able to expand the production facility as expected, the accuracy of the Company's expectations in relation to the effect of the Phase 1 and further expansion, and its impact on the production, commercialisation, scaling, quality and application of the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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GMG.v $GMGMF GMG to Acquire THERMAL-XR(R) Manufacturing Intellectual Property and Brand Rights to Set Stage for Global Growth
by @newsfile on 15 Aug 2022, 05:00
Brisbane, Queensland, Australia--(Newsfile Corp. - August 15, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG") is pleased to announce that GMG and OzKem Pty Ltd ("OzKem") have signed a binding agreement for GMG to acquire the manufacturing intellectual property and brand rights of OzKem's THERMAL-XR® coating products. OzKem developed the THERMAL-XR® coating system products using GMG graphene together with OzKem's base HVAC (Heating Venting and Air Conditioning) coating. GMG is an international distributor of THERMAL-XR® products with a number of global commercial demonstrations underway or initial sales completed. Following the completion of the agreement GMG will own the THERMAL-XR® brand, will buy the base coatings product from OzKem, and GMG will manufacture the THERMAL-XR® products containing GMG graphene.
Under a binding detailed agreement, GMG and OzKem have agreed to the following terms:
Transfer THERMAL-XR® manufacturing intellectual property from OzKem to GMG to enable GMG to manufacture the products with GMG graphene going forward;
Transfer the THERMAL-XR® branding ownership from OzKem to GMG;
GMG to buy exclusively from OzKem the base coating at agreed prices for a fixed period of five years. OzKem agrees not to develop graphene-based coatings for the same fixed period; and
GMG to pay to OzKem an initial AU$1 million cash and a subsequent AU$1 million in ordinary shares in the Company, conditional on a successful commercial batch blend of the THERMAL XR® product completed by GMG.
OzKem's Managing Director, Terry Kobler, commented "OzKem has been working with GMG since 2018. It was obvious to OzKem that the quality of graphene supplied by GMG could make a positive impact in our development of a conductive coating to restore lost efficiency in air conditioning units. Since those early days, our partnership has grown significantly. It is a natural development in the business for GMG to take over the THERMAL XR® business and work to develop the potential of this technology."
GMG's Managing Director and CEO, Craig Nicol, commented: "We are excited with this next stage of the commercial maturation of THERMAL-XR® products. Together, with the partnerships already established, this is another important step towards GMG's goal to become a major global supplier of energy saving products as well as G+AI Batteries as we continue to de-risk the commercial scale up of these technologies."
About OzKem Pty Ltd
OzKem is a world leading coating technology company focused on the protection of heat exchange coils. OzKem formulates, develops and supplies world leading coating technology for the protection and maintenance of heat exchange coils. OzKem's main goal is to provide long term corrosion and biofouling protection which will deliver long term energy efficiency. The corner stone of the OzKem business philosophy is technical support. Helping customers not only with their specific issues related to corrosion protection but also more broadly with heat exchange manufacturing processes and system efficiency.
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact:
Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding timing, completion and the final terms and conditions of binding agreements entered into between OzKem and the Company; the impact, effects and capabilities of GMG and its products; GMG's ability to produce its products and the benefits arising from such products; GMG's plans and business strategies; the successful completion of a commercial batch blend of the THERMAL XR® product completed by GMG; the production process and raw inputs used therein; the commercial progress and technical characteristics of certain products; performance regarding to certain residential and industrial applications; and the commercial maturation of THERMAL-XR® products.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources; that the results and impacts arising from the binding agreement between GMG and OzKem will differ from the Company's expectations or be realized at all; changes to regional and global market trends; that the Company will be unable to develop and produce certain products and technologies; that commercial progress, technical characteristics and benefits will not be consistent with management's expectations; and that GMG will not be able to successfully complete a batch blend of the THERMAL XR® products In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to complete the binding agreement with OzKem and that benefits and impacts arising from binding agreements between the Company and OzKem will be consistent with the Company's expectations; the Company's ability to research, develop and test its products, including THERMAL XR®, within anticipated timelines; and market demand for the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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RKL.ca Rockland Resources Reports Significant Beryllium Assays on The Lithium Butte Claystone Property, Utah
by @accesswire on 4 Aug 2022, 05:01
VANCOUVER, BC / ACCESSWIRE / August 4, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to report additional grab sample assay results from the Lithium Butte Property in Juab County, Utah, USA, that show significant beryllium concentrations with values up to 4,810 ppm beryllium. The Lithium Butte Property is located in the Basin and Range geological province of west-central Utah and is interpreted to be significantly prospective for lithium (Li) and beryllium (Be) mineralization hosted in claystone volcanic tuff-breccia units. The Company has staked an additional 27 claims (540 acres) at the Lithium Butte property bringing the total number of claims to 551 claims or 11,020 acres (4,460 ha).
Ten grab samples from the property were taken on a reconnaissance sampling program in May, 2022. Three of the grab samples returned significant beryllium concentrations with assays of 4,810 ppm Be, 4,290 ppm Be, and 1,790 ppm Be. These samples also contain anomalous Li with 380 ppm Li, 440 ppm Li, and 402 ppm Li respectively. The Be-mineralized samples were collected from an outcrop of bedded tuff-breccia approximately 340 meters east-southeast of the claystone tuff-breccia samples that contained previously reported high lithium values ranging from 4,080 ppm to 1,200 ppm Li (see press release June 29, 2022).
Dr. Richard Sutcliffe, Rockland's President, stated: "Our early work at Lithium Butte is demonstrating that the Property hosts a volcanic formation that has a unique endowment in light metals including lithium and beryllium. This formation exhibits strong similarities with the Miocene Spor Mountain Formation that hosts currently mined Be deposits. Our initial results at Lithium Butte suggests that the Spor Mountain Formation may be more widespread than previously thought and has encouraged Rockland to significantly extend its property position in this region."
Company personnel have recently conducted additional sampling from the clay altered rhyolite tuff breccia that returned the lithium assays up to 4,080 ppm lithium . The exposure has a stratigraphic thickness estimated to be greater than 20 meters and contains at least two intervals of claystone mineralization, each of which is several meters in thickness. Channel sampling was conducted across the stratigraphic section and along strike on an exposed dozer road cut. A total of 24 additional samples including 20 channel samples have been submitted to ActLabs laboratory for multi-element analysis using using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
The geochemical soil sampling program previously announced (see press release July 14, 2022) has been completed, involving approximately 1,000 soil samples taken at 150 meter intervals on east-west lines spaced at 300 meters for a total of 145.5 line-km of sampling, over the entire Lithium Butte property. North American Exploration of Layton, Utah was retained to complete the geochemical soil sampling program. A handheld Laser Induced Breakdown Spectrometer (LIBS) capable of light metal detection (including lithium and beryllium) has been purchased from SciAps Inc., of Woburn, MA, and is currently being shipped to the property. The soil and rock samples from the property will be scanned using the LIBS instrument to fast-track the identification of anomalous targets, for additional exploration and drill targeting.
Idaho based geologist, Travis Fisher is welcomed to the team and will lead the Utah exploration program as Project Manager. The Company is in the process of leasing a house/warehouse in the area to be used by additional Company personnel and contractors, and to serve as a sample preparation/analysis facility. Previous exploration on the Lithium Butte property focused on uranium in the 1950s and late 1970's, and in the 2010-2011 period on beryllium (Be), rubidium (Rb) and rare earths (REE). Lithium values from 2010 of the altered rhyolite tuff breccia returned up to 1690 ppm Li, and anomalous lithium (+300 ppm Li) values in rock and soil samples extend over and area 2.0 kilometres east-west, by 1.0 kilometres north-south. The current soil samples will significantly extend the previous survey area.
About Beryllium - Beryllium is a strong, light weight metal with atomic number 4. Beryllium is considered a critical mineral by both the Canadian and US governments. In particular, beryllium is very strong for its weight and is good at holding its shape across a range of temperatures. Beryllium metal is used for lightweight structural components in the defense and aerospace industries including high-speed aircraft, spacecraft and satellites. The metal's characteristics resulted in the recent application of beryllium to construct the mirrors of the James Webb Space Telescope.
Program QA/QC - Previous and recent sampling on the Lithium Butte Property were carried out by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also responsible for reviewing and approving the geological contents of this news release. Samples were transported in sealed bags by the Project Manager and shipped to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis will be performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
Rockland has set 800,000 options to directors, officers and consultants of the company at an exercise price of 20 cents for a period of three years in accordance with the company's stock option plan.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra claystone project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds an option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/710833/Rockland-Resources-Reports-Significant-Beryllium-Assays-on-The-Lithium-Butte-Claystone-Property-Utah
ILI.v $ARXRF Weekly MACD just crossed over bull, STO's over 50, RSI long ways to go to reach overbought, Slo-STO's haven't even turned yet and PMO & KST rounding for the bully turn. https://schrts.co/CxyNQiHT
cheers,
hsb
WHN.v Westhaven Completes Oversubscribed Non-Brokered Private Placement of Flow-Through Common Shares
by @GlobeNewswire on 29 Jul 2022, 05:00
VANCOUVER, British Columbia, July 29, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that it has now closed the previously announced non-brokered private placement. The Company issued a total of 9,739,847 common shares that qualify as “flow-through shares” of the Company for the purposes of the Income Tax Act (Canada) (the “Flow-Through Common Shares”) at a price of C$0.44 per Flow-Through Common Share for aggregate gross proceeds of $4,285,533.
The gross proceeds from the Offering will be used to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Westhaven’s projects in British Columbia, Canada. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2022.
The private placement remains subject to TSX Venture Exchange approval. The Company paid finders’ fees of $39,001 to Red Cloud Securities Inc., $18,876 to National Bank Financial Inc., and $1,320 to Haywood Securities Inc. All securities issued in the Offering are subject to a hold period expiring on November 30th, 2022.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Shaun Pollard"
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
spollard@westhavengold.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.
This news release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Primary Logo
WHN.v Westhaven Announces $3,000,000 Non-Brokered Private Placement
by @GlobeNewswire on 25 Jul 2022, 05:00
VANCOUVER, British Columbia, July 25, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, up to 6,818,182 flow-through (FT) common shares of the Company at a price of $0.44 per FT share for gross proceeds of up to $3,000,000.
The gross proceeds from the Offering will be used to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Westhaven’s projects in British Columbia, Canada. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2022.
Existing directors and officers of Westhaven may choose to participate in the private placement. Participation of insiders of the company in the private placement constitutes a related-party transaction as defined under Multilateral Instrument 61-101. Because the Company's shares trade only on the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(a) of MI 61-101.
The private placement is subject to TSX Venture Exchange approval. Westhaven may pay finders' fees to eligible finders, as permitted by applicable securities laws and the rules of the TSX-V. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Shaun Pollard"
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
spollard@westhavengold.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.
This new release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Primary Logo
BARU.v $BARUF Baru Gold Announces Closing of US $1.5 Million Convertible Loan Financing for Sangihe Gold Mine
by @thenewswire on 20 Jul 2022, 06:01
(TheNewswire)
Baru Gold Corp.
July 20, 2022 – TheNewswire - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (“BARU” or the “Company”) is pleased to announce that it has successfully closed its secured convertible loan transaction with Mercer Street Global Opportunity Fund, LLC, a fund managed by Mercer Street Capital Partners, LLC, a Miami-based institutional fund manager (together, “Mercer”), and raised a net proceeds of US$1,500,000 ($1.94 Million Canadian) to fund the development and construction of the Sangihe gold mine in Indonesia, and for general working capital as announced its previous press release (see BARU press release dated July 18, 2022). In connection with such loan transaction, the Company issued 15,000,000 share purchase warrants having a term of 2 years with an exercise price of $0.065 per common share over such term (previously stated as $0.0675 in error). Any common shares issuable upon the conversion of the loan principal or such share purchase warrants shall be subject to resale restrictions expiring November 20, 2022.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT MERCER STREET CAPITAL PARTNERS, LLC
Mercer Street specializes in providing innovative debt and equity investments to publicly-listed companies across the globe.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
RKL.ca Rockland Resources Expands Lithium Butte Claystone Property, Utah and Initiates Exploration Program
by @accesswire on 20 Jul 2022, 05:03
VANCOUVER, BC / ACCESSWIRE / July 20, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE: RKL) is pleased to report that the Company has recently staked an additional 464 lode claims on the Lithium Butte Property in Juab County, Utah, USA. Including the original 60 claims, the Property now comprises a total of 524 claims with an area of 10,670 acres (4,320 ha). On June 29, 2022, the Company reported grab samples that contained up to 4,080 ppm lithium in claystones derived from rhyolite tuff-breccia on the Property (see Rockland June 29, 2022 press release). Rockland has initiated a soil sampling program to follow up on the grab sample results to determine the areal extent of claystone lithium mineralization and define additional exploration targets. The Lithium Butte Property is in the Basin and Range geological province of west-central Utah and is well situated 185 km southwest of Salt Lake City.
Rockland Resources Ltd., Wednesday, July 20, 2022, Press release picture
Figure 1. Location map of the Lithium Butte property
As reported on June, 29, 2022, Rockland obtained five grab samples of clay altered rhyolite tuff breccia from the property that assayed from 4,080 ppm lithium to 1,200 ppm lithium with an average of 2,142 ppm lithium. The soil sampling program will cover the 10,670 acre property with an estimated 995 soil samples taken at 150 m intervals on east-west lines spaced at 300 m for a total of 145.5 line-km of sampling. Samples will initially be analyzed in the field by handheld Laser Induced Breakdown Spectroscopy (LIBS) capable of light metal detection. Results of the survey are anticipated in early autumn and expected to generate lithium exploration targets for follow up drilling. Work on the property by previous operators including Redhill Resources Corp. in 2011 and Anaconda Copper Mining Company did not focus on lithium.
In addition to the soil sampling program, Rockland will channel sample the outcropping exposure of clay altered tuff-breccia where the previously reported grab samples were obtained. The exposure has a stratigraphic thickness estimated to be greater than 20 m and contains at least two intervals of claystone mineralization, each of which is several meters in thickness. Samples will be analyzed for Li and other elements at an independent assay laboratory using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
Dr. Richard Sutcliffe, Rockland's President stated "Although this project is at an early stage, we are extremely pleased with the results to date and the progress that we are making at Lithium Butte. Rockland has been an early mover in the Utah Basin and Range Province for claystone lithium exploration and we have assembled an exciting property package. Our early stage sampling has returned significant lithium assays and Lithium Butte has many of the hallmarks of successful lithium claystone projects including: volcanic source rocks with elevated lithium content; geothermal fluid activity; containment basins; clay altered horizons; and favourable structure. We look forward to reporting new results on this promising project."
Rockland can acquire an initial 90% interest in the original Lithium Butte property (60 claims - 1,200 acres) by covering the staking and filing costs (paid), with the remaining 10% interest held by an arms-length third party. The additional claims that have been staked by Rockland are owned 100% by the Company. There is a 1.5% Net Smelter Royalty ("NSR") payable to the same arms-length third party on both the original Lithium Butte property and all claims being acquired in the area. Rockland has the right to buy back a half percent of the NSR to reduce it to 1% at any time for $1,000,000 Cdn. A finder's fee may be payable on the Lithium Butte acquisition, with any share compensation subject to a four-month-and-one-day hold period."
Program QA/QC - Initial grab sampling at Lithium Butte was carried out by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also responsible for reviewing and approving the geological contents of this news release as they pertain to the Lithium Butte Claystone Property. Samples were transported in sealed bags by the QP to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis was performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds and option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/709170/Rockland-Resources-Expands-Lithium-Butte-Claystone-Property-Utah-and-Initiates-Exploration-Program
BARU.v $BARUF Baru Gold Announces US $1.5 Million Convertible Loan Financing for Sangihe Gold Mine Production
by @thenewswire on 18 Jul 2022, 06:03
(TheNewswire)
Baru Gold Corp.
July 18, 2022 – TheNewswire - Baru Gold Corp. (TSXV:BARU) | (OTC:BARUF) (“BARU” or the “Company”) is pleased to announce it has entered into a convertible loan agreement with Mercer Street Global Opportunity Fund, LLC, a fund managed by Mercer Street Capital Partners, LLC, a Miami-based institutional fund manager (together, “Mercer”), to raise net proceeds of US$1,500,000 ($1.94 Million Canadian) to fund the development and construction of the Sangihe gold mine in Indonesia, and for general working capital.
Terry Filbert, Chairman and CEO of Baru Gold, commented, “The Company’s ability to raise these funds in this challenging market is a testament to the merits of the Sangihe project. We are pleased to be able to carry on with construction and production plans; and we look forward to the commencement of our previously announced drilling program where we intend to extend and increase the resource base at the Binebase and Bawone target areas. The additional capital will allow us to work towards the ultimate goal of sustained cashflow for the Company.”
The convertible loan will raise net proceeds of US$1,500,000 (the “Convertible Loan”) from the aggregate principal amount of US$2,000,000 subject to an original discount of approximately 25%. The terms of the convertible loan agreement are as follows: (i) the outstanding principal obligations and interest shall be calculated monthly, and shall be repaid to the Subscriber in eighteen (18) equal monthly installments, in advance, commencing 180 days following the closing date, until the obligations are fully repaid; (ii) the Company shall pay interest on any overdue amount (including interest on interest) at and interest rate of 18% per annum until the overdue amounts are paid in full; (iii) in the event that the principal amount of US$1,500,000 has been fully paid within one (1) year from the closing date, a discount of approximately 10% of the principal amount and interest shall apply to the total repayment amount where the aggregate amount due shall be reduced to US$1,800,000. The Debentures have a maturity date of the 2nd anniversary of the closing date and bear an interest rate of 16.67% prepaid from loan proceeds on the closing date.
Commencing on the four (4) month anniversary of the closing date: (i) the principal of the Convertible Loan shall be convertible into common shares of the Company at the conversion price of CDN$0.05/US$0.0384 per common share and (ii) subject to prior TSX Venture Exchange approval, interest shall be convertible at a conversion price based on the previous trading day close prior to the announcement of the interest conversion..
A total of 15,000,000 transferable warrants of the Company shall also be issued to the lender that may be exercised over a two (2) year term having a warrant exercise price of CDN$0.0675/US$0.05.
The Convertible Loan is secured against the Company’s equity interest in its wholly owned subsidiary, Sangihe Gold Corporation, that holds through a wholly owned Indonesian subsidiary, the Company’s interests in the Sangihe Gold Project. The use of proceeds from the Offering shall be used for the development of the Sangihe Gold Project and general working capital purposes. There are no finder’s fees payable.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT MERCER STREET CAPITAL PARTNERS, LLC
Mercer Street specializes in providing innovative debt and equity investments to publicly-listed companies across the globe.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
ILI.v $ARXRF Weekly breaking the DT res line...ACC/DIS flatlining...selling pressure evaporating...PMO & KST rounding the corner... time to load da boat imho and let the technicals work...https://schrts.co/nIvjTjNs of course DYODD
SKYG.v $SRKZF Sky Gold Closes Financing
by @accesswire on 8 Jul 2022, 13:41
VANCOUVER, BC / ACCESSWIRE / July 8, 2022 / Sky Gold Corp. (TSXV:SKYG) (US:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce that the Company has closed its previously announced non-brokered private placement (see PR dated June 23, 2022). The Company issued a total of 1,236,667 Flow-through units (the "FT Units") and 8,000,000 non-flow-through units (the "NFT Units") for total aggregate gross proceeds of $474,200.02.
Each FT Unit is comprised of one common share (a "Share") and one-half transferrable Share purchase warrant (a "Warrant") of the Company. Each whole Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.08 per Warrant Share for a 24-month period after the Closing Date. Each NFT Unit is comprised of one common share (a "Share") and one transferrable Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.08 per Warrant Share for a 24-month period after the Closing Date.
Finders' fees of $7,500 and 42,667 finder's warrants were paid to arms length parties. Finder's warrants entitle the Finder to purchase one common share in the Company at a price of $0.08 for a period of 12 months from the date of closing.
A senior officer of the Corporation has subscribed for an aggregate of 700,000 Units as part of the Private Placement, which participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 of the TSXV. The Corporation is relying on the exemption for a formal valuation under section 5.5(b) of MI 61-101 (trading on the TSXV), and on the exemption for minority shareholder approval under section 5.7(1)(b) of MI 61-101 (fair market value of less than $2,500,000).
All securities issued are subject to a statutory hold period expiring on November 8, 2022.
The financing, although conditionally approved by the TSX Venture Exchange (TSXV), is subject to final approval.
Proceeds raised from the Offerings will be used for ongoing work programs at the Company's Mustang property located in Newfoundland as well as general corporate overhead.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/708078/Sky-Gold-Closes-Financing
$MJLB on watch …
Waited Cert news could come any minute now !!!
Load the boat while cheap !!!
ILI.v $ARXRF Georgia Lakes neighbour making moves in Germany...Rock Tech wins thyssenkrupp Materials Trading as potential supplier of raw materials and customer for its lithium hydroxide
VANCOUVER, BC, July 7, 2022 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the "Company") has entered into a non-binding Memorandum of Understanding (the "MOU") with materials distributor and service provider thyssenkrupp Materials Trading GmbH ("thyssenkrupp Materials Trading") in relation to establishing a strategic partnership to supply lithium spodumene concentrate. Rock Tech plans to refine the mineral from the end of 2024 at its proposed converter in Guben, Germany, into high-purity lithium hydroxide, a key element in batteries for electric cars and plug-in hybrids.
Rock Tech Lithium Inc. (CNW Group/Rock Tech Lithium Inc.)
The MOU between the two companies also includes a framework relating to the purchase of high-purity lithium hydroxide by thyssenkrupp Materials Trading for the battery market, as well as other by-products resulting from the refining process. Thus, the potential partnership is expected to promote a more resilient supply chain for lithium directly out of Germany, from raw material sourcing, to refining, to meeting demand of the automotive industry and growing electromobility demands.
Markus Brügmann, Rock Tech's chief executive officer says: "With thyssenkrupp Materials Trading we have found al global logistics and trading partner that gives us further security in the supply of spodumene. This is expected to give us a broader base for our input stream, which would take us a big step forward on the road to success."
Wolfgang Schnittker, chief executive officer of thyssenkrupp Materials Trading, says: "The potential partnership with Rock Tech underlines the systematic expansion of our global trading activities in the international battery and electric vehicles industry. The trading of lithium products would add another very important raw material to our supply portfolio for the production of long-life batteries."
Spodumene is one of the most important raw materials, amongst others, for the production of lithium-ion batteries in electric vehicles. For this purpose, the spodumene mineral must be refined into lithium hydroxide, which can then be supplied to cathode manufacturers for the battery industry worldwide. Cathodes are essential components of battery cells. The lithium spodumene concentrate will be used in Rock Tech's first converter in Guben, Germany, which is expected to produce battery-grade lithium hydroxide from 2024.
ABOUT THYSSENKRUPP MATERIAL SERVICES
thyssenkrupp Materials Services is the largest mill-independent materials distributor and service provider in the Western world, with around 380 locations - including around 260 warehouse sites - in more than 30 countries. The extended range of services offered by the materials experts allows customers to focus even more strongly on their individual core businesses. As part of its strategic development "Materials as a Service", the company is focusing on from high-quality raw and basic materials to technical services and the development of intelligent processes in automation, extended supply chain, and warehouse and inventory management. Digital solutions ensure efficient and resource-saving processes for customers and thus provide the basis for sustainable action. From 2030 Materials Services will operate on a climate-neutral basis.
ABOUT ROCK TECH LITHIUM INC.
Rock Tech Lithium Inc. is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high-quality, "made in Germany" lithium hydroxide. As early as 2024, Rock Tech intends to commission Europe's first lithium converter with a production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
Rock Tech owns the Georgia Lake Project in Ontario, Canada. The Company has set itself the goal of creating a closed loop for lithium, thus closing the raw material gap on the road to clean mobility. As early as 2030, around 50 percent of the raw materials used by Rock Tech are expected to come from the recycling of batteries.
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, this press release contains forward-looking information pertaining to: expectations regarding the MOU, including statements relating to the benefits and outcomes therefrom; future actions taken by Rock Tech and thyssenkrupp Materials Trading, including with respect to establishing a strategic partnership between the parties, the purchase and sale of spodumene and lithium hydroxide, respectively, and the expected benefits of future arrangements between the parties; statements regarding Rock Tech's proposed lithium hydroxide converter, including its features and location; statements regarding Rock Tech's future plans and expectations, including with respect to the Company's feedstock sourcing strategy and the impact of a strategic partnership with thyssenkrupp Materials Trading thereon; anticipated production of lithium hydroxide and related processing methods and outputs; statements and expectations regarding the electric vehicle industry; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties.
Forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company and in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Such assumptions, estimates and other factors include, among other things: the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions, estimates and factors to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the Company's ability to access funding required to invest in available opportunities and projects (including the Company's proposed lithium hydroxide converters) and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities; the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity and other prices, Rock Tech's ability to attract and retain skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of the Company's proposed lithium hydroxide converters, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency, exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech's public disclosure documents available on the Company's SEDAR profile at www.sedar.com, including those discussed under the heading "Risk Factors" in Rock Tech's most recently filed Management Discussion and Analysis and Annual Information Form, respectively. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this press release.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/rock-tech-wins-thyssenkrupp-materials-trading-as-potential-supplier-of-raw-materials-and-customer-for-its-lithium-hydroxide-301582043.html
SOURCE Rock Tech Lithium Inc.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/07/c5908.html
ILI.v $ARXRF John Kaiser sweet on the Lithium pegmatite boom in Eastern Canada...55:20 mins mark ILI here...https://www.howestreet.com/2022/06/gold-oil-market-cycles-usd-junior-mining-lithium-eric-hadik-john-kaiser-bob-hoye-this-week-in-money/
WHN.v @Goldfinger's analysis
BARU.v $BARUF Baru Gold Announces Director Resignation and Provides Update on Filed Appeal
by @thenewswire on 28 Jun 2022, 19:37
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire – June 28, 2022 - Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) (OTC:BARUF) announces that Mr. Gerhardus Kielenstyn has resigned as a Director of Baru Gold and as Chief Operating Officer of the Company’s subsidiary PT Tambang Mas Sangihe (“TMS”) effective immediately. Mr. Jiriel Kumajas, Director of General Administration of the TMS Project, will replace Mr. Kielenstyn as Interim Chief Operating Officer of TMS until a permanent replacement is found.
The Company also wishes to provide an update on the appeal of a lawsuit filed in Manado, Indonesia in August of 2021, against two government departments which issued a permit to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
On October 12, 2021, a lawsuit was filed against the North Sulawesi Province Government Head of Investment and One Stop Integrated Services of North Sulawesi as Defendant I and Head of Environmental Department of North Sulawesi as Defendant II. The lawsuit pertained to the issuance of the Environmental Permit (“AMDAL”) to TMS in August of 2020. While Baru was not named in the lawsuit, the court granted permission for a representative of Baru to attend the proceedings in support of the government departments.
On June 3, 2022, judgement was issued in favor of the plaintiff. From the Company’s perspective, the judgement was based on undefined procedural requirements, testimony of an expert not qualified to prepare an AMDAL report and an administrative oversight since corrected in a document that is in excess of 1,000 pages. TMS has already filed an appeal with the State Administrative High Court (“PTTUN”) in Makassar and that process is expected to take three to five months to reach a verdict.
The AMDAL permit was used to obtain the upgraded construction/operation permit. The Company obtained an opinion from an external legal firm that stated TMS has a valid Contract of Work (“CoW”) with the Indonesian government and has a valid operating licence from the Minister of Energy and Natural Resources. Since the operational permit has not been annulled by the court, the production/operation licence remains valid and TMS will continue with its construction plans.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
RKL.ca Rockland Resources Reports Assays Up To 4,080 Ppm Lithium on Newly Acquired Lithium Butte Claystone Property, Utah
by @accesswire on 29 Jun 2022, 05:01
VANCOUVER, BC / ACCESSWIRE / June 29, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to report that the Company has acquired the Lithium Butte Property located in the Basin and Range Province of west-central Utah, USA. Rockland representatives recently took grab samples that have resulted in assays returning up to 4,080 ppm lithium from claystones derived from rhyolite tuff-breccia on the newly acquired Lithium Butte Property.
Ten grab samples from the property were taken on a reconnaissance sampling program in May 2022. All of the grab samples are from a rhyolite tuff-breccia unit of Tertiary age that is known to contain elevated Lithium contents. Five grab samples of the tuff-breccia that had strongly developed clay alteration assayed from 4,080 ppm lithium to 1,200 ppm lithium with an average of 2,142 ppm lithium. The five samples were taken from an outcropping exposure of clay altered tuff-breccia with a stratigraphic thickness estimated to be greater than 20 m. The exposure contains at least two intervals of claystone mineralization, each of which is several meters in thickness.
Dr. Richard Sutcliffe, Rockland's President stated "Although this project is at a very early stage, we are extremely encouraged by these high-grade lithium grab samples from volcanic-derived claystones on the Lithium Butte Property. The next stage of work will include channel sampling to confirm the thickness of the lithium-rich claystone units on the Property. Since the claystone is locally well-exposed and accessible to surface sampling, we anticipate that this work will be done this summer. Lithium Butte has many of the hallmarks of successful lithium claystone projects in the Basin and Range Province. These include: volcanic source rocks with elevated lithium content; geothermal fluid activity; containment basins; clay altered horizons; and favourable structure."
The Lithium Butte Property consists of 60 lode claims on BLM lands covering approximately 1,200 acres (486 ha) in west central Utah. The Lithium Butte Property will be part of a regional lithium exploration program that Rockland is developing in Utah. The Company is currently staking additional claims and will provide additional Property details once staking has been completed.
Rockland has acquired a 90% interest in the original Lithium Butte property (60 claims - 1,200 acres) by covering the staking and filing costs (paid), with the remaining 10% interest held by an arms-length third party. All remaining claims being staked by Rockland are owned 100% by the Company. There is a 1.5% Net Smelter Royalty ("NSR") payable to the same arms-length third party on both the original Lithium Butte property and all adjoining claims being acquired in the area.
Assay Program QA/QC - Initial grab sampling at Lithium Butte was carried out by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also responsible for reviewing and approving the geological contents of this news release as they pertain to the Lithium Butte Claystone Property.
Samples were transported in sealed bags by the QP to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis was performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds an option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/706912/Rockland-Resources-Reports-Assays-Up-To-4080-Ppm-Lithium-on-Newly-Acquired-Lithium-Butte-Claystone-Property-Utah
ILI.v $ARXRF investee co Pegasus Commences the RadonEX Survey on its Pine Channel Uranium Project, Athabasca Basin, Saskatchewan
by @nasdaq on 28 Jun 2022, 05:30
VANCOUVER, British Columbia, June 28, 2022 (GLOBE NEWSWIRE) -- Pegasus Resources Inc. (TSX-V: PEGA: Frankfurt – OQS2, OTC/Pink Sheet symbol: SLTFF) (the “Company” or “Pegasus”) is pleased to announce that it has commenced the RadonEX survey on its Pine Channel Uranium Project (“the Project” or “Pine Channel”), located in the Athabasca Basin region of northern Saskatchewan.
“We are excited to be starting the RadonEX survey on Pine Channel,” stated Chris Timmins, President of Pegasus. “A previous RadonEX survey identified exploration targets on the Patterson Lake trend for Fission Uranium Corporation and Nexgen Energy Ltd., leading to the discovery of additional zones, including the Triple R Zone. We look forward to identifying exploration targets and following up on them up.”
Pegasus continues working with the group that represents the northern communities and First Nations groups, the Ya’ thi Néné Lands and Resources (YNLR) office.
Pine Channel Uranium Property Highlights:
The Project is prospective for unconformity-related uranium mineralization, with a very shallow depth to the basement from surface of about 60 to 100 metres.
Historical work identified two conductive trends on the Project. One trend is approximately 2.5 km long, defined by both airborne and ground electromagnetic (EM) surveys. The second, a 600-metre-long conductor has not yet been followed up with a ground EM survey(s) or drilling; and
Drilling in 1981 identified anomalous uranium in a hematite-rich fracture within Athabasca sandstone rocks, directly above unconformity in hole PC81-2 with 0.15% U3O8 over 0.15m.
The Project with a thin cover of Athabasca Basin, is underlain at shallow depths by the structurally complex Tanto Domain, which is host to numerous U, Cu, Ni and Au occurrences.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Neil McCallum B.Sc., P.Geo. of Dahrouge Geological Consulting, who is a “Qualified Person” as defined in NI 43-101.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com.
On Behalf of the Board of Directors
Christian Timmins
President and Director
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-604-369-8973
E: info@pegasusresourcesinc.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 included in this announcement, including statements concerning the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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WHN.v Westhaven Drills 76.98 Metres Of 1.51 g/t Gold and 8.47 g/t Silver, Including 15.56 Metres of 4.52 G/T Gold and 25.99 g/t Silver; 2.02 Metres of 39.67 g/t Gold and 30.38 g/t Silver at the Shovelnose Gold Property
by @nasdaq on 27 Jun 2022, 05:00
VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Highlights include:
SN22-238 intersected 1.51 g/t gold (Au) and 8.47 g/t silver (Ag) over 76.98 metres (m) at the FMN Zone, starting at 24m below surface. Gold-silver mineralization at FMN has now been intersected over a strike length of approximately 500m, and to a vertical extent of up to 220m. A combination of near surface, broad intervals of gold-silver mineralization well above the cut-off grade in the South Zone initial maiden resource, as well as high grade intervals (SN22-212: 857.64 gram-metres gold), are all evident.
SN22-236 intersected 1.08 g/t Au and 4.44 g/t Ag over 40.00m at the Alpine Zone extending Vein 2 mineralization, including 1.17m of 15.40 g/t Au and 73.50 g/t Ag. Recent drilling at Alpine has now been completed on four 50m-spaced sections covering a strike length of 150m along Vein Zone 2. This tighter drilling, which now covers a total strike length of 1 kilometre over Vein Zone 2, continues to intersect gold-silver mineralization. The gold-silver mineralization here is near surface.
SN22-240 intersected 3.47 g/t Au and 5.04 g/t Ag over 24.89m at the FMN Zone, including 39.67 g/t Au and 30.38 g/t Ag over 2.02m.
FMN Zone is over 2 kilometres northwest of the South Zone resource area. Given the strong nature of this system, and the low drill density in this area, management believes there will be more high-grade shoots and broad intervals of potentially bulk tonnage gold mineralization discovered along this ~4-kilometre trend.
Vein Zones 1 and 2 will be targeted for further drilling over the 1km length between FMN and Alpine, where drilling is limited to shallow historic holes and more recent, broadly spaced step outs.
Westhaven has drilled approximately 21,000m over 70 holes at Shovelnose in 2022. The Company is on pace to drill ~40,000 metres by year end and will look to have an updated resource estimate, including the FMN and Alpine Zones, by Q1, 2023.
Gareth Thomas, President & CEO, comments: “Systematic drilling of Vein Zone 1 at the FMN Zone has again successfully intersected gold-silver mineralization. These results confirm continuity of both high-grade and bulk tonnage style gold over a wide area, which remains open in all directions. Similarly, the Alpine Zone has been expanded with the intercept of 1.08 g/t Au and 4.44 g/t Ag over 40.00m, extending Vein 2 mineralization by 150 metres. Management is confident that these areas can contribute significantly towards growing the property’s 1.1 million ounce gold equivalent mineral resource estimate.”
Peter Fischl, Exploration Manager adds: “Drilling at Shovelnose continues at the FMN and Alpine target areas this year. Tighter spaced drilling over Vein Zone 2 at the Alpine target area has intersected significant widths of gold-silver mineralization above the cutoff grade of the open pit maiden resource released earlier this year for the adjacent South Zone target area immediately southeast of Alpine. The shallow and very gently dipping nature of Vein Zone 2 here adds to the open pit potential of the Alpine target area. The mineralization uncovered in the tighter drilling here may have a positive impact to any update to the maiden open pit resource. Infill and step out drilling at FMN continue to yield significant gold intersections in Vein Zone 1 and in post mineral heterolithic breccias that cut Vein Zone 1. The most recent results confirm that the post mineral breccias at FMN can host mineralization over significant widths at shallower levels (e.g.: 0.46 g/t Au over 29.08m in SN22-240, 1.16 g/t Au over 42.17m in SN22-211). The breccias are now considered a secondary target that can add to the bulk tonnage potential at FMN.”
Recent drill results are summarized here:
Hole_ID Zone From (m) To (m) Int (m) Au (g/t) Ag (g/t) High Au (ppb)
SN22-231 FMN 23.00 26.00 3.00 0.27 4.06 269
SN22-232 Alpine 69.00 70.00 1.00 0.31 2.10 305
and 85.00 86.20 1.20 0.32 1.51 323
SN22-233 FMN 162.00 174.49 12.49 0.32 1.45 888
including 170.00 172.00 2.00 0.89 1.56 888
SN22-234 Alpine 27.00 28.00 1.00 9.13 10.85 9130
and 90.00 93.00 3.00 0.40 2.48 413
SN22-235 FMN 162.00 170.21 8.21 0.75 3.20 3060
including 168.00 169.00 1.00 3.06 3.93 3060
and 233.88 235.05 1.17 0.93 3.08 926
SN22-236 Alpine 53.00 93.00 40.00 1.08 4.44 15400
including 59.82 61.00 1.18 4.50 3.61 4500
including 74.77 92.00 17.23 1.96 8.95 15400
including 78.83 80.00 1.17 15.40 73.50 15400
and 109.98 110.60 0.62 1.23 19.10 1230
SN22-237 Alpine 63.00 111.00 48.00 0.41 1.73 3170
including 96.89 100.23 3.34 1.92 8.51 3170
SN22-238 FMN 32.00 108.98 76.98 1.51 8.47 19650
including 41.93 49.06 7.13 1.91 7.70 4110
including 87.39 102.95 15.56 4.52 25.99 19650
including 87.39 90.33 2.94 11.82 42.31 19650
including 95.95 98.00 2.05 10.74 63.03 14200
SN22-239 Alpine 67.00 69.00 2.00 0.51 3.16 769
SN22-240 FMN 32.73 61.81 29.08 0.46 3.31 3570
including 54.05 60.04 5.99 1.45 9.09 3570
and 83.00 107.89 24.89 3.47 5.04 61700
including 104.00 106.02 2.02 39.67 30.38 61700
and 135.96 156.04 20.08 0.24 8.15 825
SN22-241 Alpine no significant assay 113
SN22-242 FMN 69.70 71.00 1.30 0.50 2.70 502
SN22-243 Alpine 51.00 80.00 29.00 0.22 1.32 683
and 109.99 121.09 11.10 0.26 1.04 508
SN22-244 FMN 163.83 164.76 0.93 2.68 65.20 2680
SN22-245 Alpine 51.00 76.00 25.00 0.74 3.12 6470
including 64.00 66.00 2.00 4.37 15.71 4630
including 71.89 72.90 1.01 6.47 24.40 6470
and 88.00 143.00 55.00 0.25 1.33 2360
including 107.43 109.22 1.79 1.96 10.66 2360
SN22-246 FMN
assays pending
SN22-247 Alpine
SN22-248 Alpine
SN22-249 N/A
SN22-250 FMN
SN22-251 N/A
SN22-252 N/A
SN22-253 FMN
SN22-254 N/A
SN22-255 FMN
SN22-256 N/A
Please click the following link to the 2021 & 2022 drill database tables of assay results:
2021 & 2022 drill database: https://www.westhavengold.com/projects/shovelnose-gold/maps/
Westhaven benefits from the B.C. Mining Exploration Tax Credit (METC) which is a permanent incentive to support investment in mining. The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C. and is worth 30% of qualified mining exploration expenditures. Westhaven has recently received a $2,161,933 refund related to exploration activities undertaken in 2021.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.
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.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
PLAN MAP
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e00d287-6f5e-4230-9f47-bbe438d6066f
PLAN MAP WITH VEIN TRACES
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d5ad202-0687-4eaa-a305-d1a4ebef7303
CROSS-SECTIONS
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ILI.v $ARXRF Diamond & Specialty Minerals Summary
Diamond & Specialty Minerals Summary for June 23, 2022 2022-06-23 20:44 ET - Market Summary by Will Purcell J.C. St-Amour's Imagine Lithium Inc. ( $ILI ) lost one-half cent to 7.5 cents on 28,000 shares on word that it has sold all its Red Lake-area gold properties to Trillium Gold Mines Ltd. ( $TGM : $0.285) and Pegasus Resources Inc. ( $PEGA : $0.055). The transfers clear the deck for Imagine to focus on work at its Jackpot lithium project. (No, not the same one; this Jackpot is near Georgia Lake, about 40 kilometres northeast of Nipigon in Northwestern Ontario.) Imagine's Jackpot is home to two pegmatite dikes with historical resource calculations that tally about two million tons at 1.09 per cent lithium oxide and 750,000 tonnes at 1.38 per cent respectively. In May, Mr. St-Amour, president, applauded new assays from core untested in 2018, work that yielded up to 1.28 per cent lithium oxide over eight metres in one hole and 1.02 per cent over 8.8 metres in a second of four holes. In January, Mr. St-Amour cheered a plan to complete a 3,000-metre drill program at Jackpot. The work was to expand on the 2018 program, testing eastern and western extensions of the dikes as well as other areas of interest, but getting word from him and his crew about that program was as difficult as wrestling control of a berry patch from a family of black bears. Six weeks into the purported program, Mr. St-Amour offhandedly allowed that "we are currently drilling" on the property, and in late April, he casually mentioned that the drilling was "actively under way." By early May, Mr. St-Amour deigned to say that the drilling was "progressing well, with five holes completed with samples in the lab." Now, another six weeks have passed with nary a peep.
SKYG.v $SRKZF Sky Gold to Begin Working With Goldspot Discoveries on The Mustang Project, Newfoundland
by @accesswire on 23 Jun 2022, 05:01
ANNOUNCES FINANCING
VANCOUVER, BC / ACCESSWIRE / June 23, 2022 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") announces it is now working with Goldspot Discoveries Group Corp on arranging for an upcoming program this summer on the Mustang property located in Newfoundland.
Additionally, a 3-week program on the Company's Virginia property has just concluded with a total of 153 channel/hand samples were taken and assays will be announced once received. The Virginia property is located contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. and the south-west portion of Labrador Gold's Kingsway project.
Sky Gold further announces it has arranged a non-brokered private placement of 5,000,000 flow-through units (the "FT Units") at a price of $0.06 per FT Unit (the "FT Offering"), for aggregate gross proceeds of $300,000.
Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of SKYG at a price of $0.08 for a period of 24 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
Sky has also arranged a non-brokered private placement of 6,000,000 units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $300,000 (the "Offering").
Each Unit shall be comprised of one common share ("Share") and one full Share purchase warrant ("Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one Warrant Share of SKYG at a price of $0.08 for a period of 18 months following the closing of the Offering.
Proceeds raised from the Offerings will be used for ongoing work programs at the Company's Mustang property located in Newfoundland as well as general corporate overhead.
Finders' fees will be payable on the private placements, subject to the policies of the TSX Venture Exchange. Closing of the offering is subject to approval of the TSX Venture Exchange.
The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for precious (silver and gold) mineralization and CRD (Carbonate Replacement Deposit) base metal mineralization. The Company owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/706302/Sky-Gold-to-Begin-Working-With-Goldspot-Discoveries-on-The-Mustang-Project-Newfoundland
If $STRPF finds really good stuff.....they could be bought out by a Major......huge price increase........
Z
They are still in exploration mode...not a producer as of yet...regards...hsb
ILI.v $ARXRF Imagine Lithium Completes Sale of Red Lake Properties
by @newsfile on 22 Jun 2022, 04:00
Vancouver, British Columbia--(Newsfile Corp. - June 22, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") announced today that it has completed the sale of all of its holdings in the Red Lake area to Trillium Gold Mines Inc. ("Trillium") (TSXV: TGM), and Pegasus Resources Inc. ("Pegasus") (TSXV: PEGA).
Further to the news releases dated April 27, 2022 and December 15, 2021, Trillium and Imagine have closed the Definitive Agreement (the "Definitive Agreement") whereby Trillium has acquired a majority of Imagine's property holdings known as the Eastern Vision Project, located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario. Under the terms of the transaction, Trillium has acquired an interest in 13,958 hectares between the Fredart, Confederation North, and Confederation South properties for a consideration of 2,800,000 common shares of Trillium and $175,000 in cash. These properties include a mix of properties that Trillium has acquired directly and others for which Trillium as assumed option agreements as optionee.
In addition, Imagine has closed an Amending, Settlement and Termination Agreement with Pegasus (the "Pegasus Agreement") with respect to the February 3, 2020 agreements relating to the Garnet Lake property and portions of the Fredart property (the "Option Agreements"). Under the Pegasus Agreement, Pegasus has issued to Imagine 5,000,000 common shares of Pegasus in exchange for delivery of certain payment obligations under the Option Agreements and Imagine relinquishing its right to complete the option for the claims under the Option Agreements. The Definitive Agreement and the Pegasus Agreement remain subject to TSX Venture Exchange approval.
Imagine lithium is focused on exploring its Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario.
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Imagine Lithium
Imagine Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128582
Is $STRPF producing anything yet.....or are they just drilling/exploring?
Z
SKYG.v's $SRKZF Imperial project neighbour out with some decent copper equivalent grades... Amex Reports Copper-Rich VMS Intercepts with Values of up to 2.86% CuEq over 6.40 m Including 4.81% CuEq over 1.60 m from QF Zone https://ceo.ca/@newsfile/amex-reports-copper-rich-vms-intercepts-with-values
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