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Luminex Hits Long High-Grade Intercept in New Breccia Pipe at Cuyes; 33 Metres of 5.4 g/t Au Eq
https://www.newswire.ca/news-releases/luminex-hits-long-high-grade-intercept-in-new-breccia-pipe-at-cuyes-33-metres-of-5-4-g-t-au-eq-869424525.html
Luminex Resources Corp. 18 May, 2023, 07:00 ET
LUNDIN GOLD REPORTS HIGH GRADE INTERCEPTS FROM ITS NEAR-MINE PROGRAM, LEADING TO EXPANSION OF THE PROGRAM IN 2023
https://www.newswire.ca/news-releases/lundin-gold-reports-high-grade-intercepts-from-its-near-mine-program-leading-to-expansion-of-the-program-in-2023-896997275.html
Lundin Gold Inc. May 04, 2023, 18:00 ET
VANCOUVER, BC, May 4, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
Solaris Confirms Discovery of Second Porphyry Center with Stronger Mineralization, Higher Grade Growth Potential at Warintza East
https://ca.finance.yahoo.com/news/solaris-confirms-discovery-second-porphyry-110000737.html
Solaris Resources
Tue, May 2, 2023 at 4:00 a.m. PDT·6 min read
Figure 1 - Core Photos from SLSE-28
Figure 1 - Core Photos from SLSE-28
Figure 2 – Plan View of Warintza East Drilling Released to Date
Figure 2 – Plan View of Warintza East Drilling Released to Date
VANCOUVER, British Columbia, May 02, 2023 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or the “Company”) is pleased to confirm the discovery of a second and more intensely mineralized porphyry center 350m south of the original discovery at Warintza East. The new discovery holds potential for notably improved grades in further growth at the Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador. Highlights are listed below, with corresponding images in Figures 1-2.
Figure 1 – Core Photos from SLSE-28
Figure 1 - Core Photos from SLSE-28
Note to Figure 1: the southern porphyry center at Warintza East is characterized by chalcopyrite-pyrite-molybdenite mineralization in stockwork veins with green/grey sericite haloes and disseminations in potassic-altered andesite porphyry cut by intermineral quartz-diorite porphyry. The total sulphide abundance is significantly greater than the original discovery.
Highlights
Warintza East was discovered in July 2021, with eight holes included in the Warintza Central Mineral Resource Estimate (“MRE”)¹ in April 2022 and subsequent drilling significantly expanding the dimensions of the deposit – the latest drilling in SLSE-28 has confirmed the discovery of a second and more intensely mineralized porphyry center 350m south of the original discovery
SLSE-28 was drilled vertically to the limit of the KD-200 rig at 309m with strong mineralization from 19m to the end of the hole characterized by chalcopyrite-pyrite-molybdenite in stockwork veins and disseminations, similar to the high grade portions of the Warintza Central deposit
Full assay results from SLSE-28 are expected within four to six weeks while follow-up hole
SLSE-29 (in progress) is being drilled southeast from a recently constructed platform testing the extension of this new porphyry center up to 200m to the east in this area
This new porphyry center is located on the southern margin of Warintza East drilling and correlates with mineralization encountered in the high grade portion of prior hole SLSE-16 in this area (192m of 0.70% CuEq² - refer to press release dated April 3, 2023)
The reader should be cautioned that only assay results from a certified third-party laboratory can confirm whether concentrations of metals are present in these drill holes and, as such, visual core characterization presented herein should be viewed as speculative in nature
MRE drilling program continues: the 2022 MRE is based on drilling to the end of 2021, with ongoing drilling aimed at expanding the ‘Indicative Starter Pit’³ and overall mineral resources, notably from the Warintza East deposit
Figure 2 – Plan View of Warintza East Drilling Released to Date
Figure 2 – Plan View of Warintza East Drilling Released to Date
Endnotes
Refer to Solaris’ technical report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador” with an effective date of April 1, 2022, prepared by Mario E. Rossi and filed on the Company’s SEDAR profile at www.sedar.com.
Copper-equivalence calculated as: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t), utilizing metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au, and assumes recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical test work. For additional details on drill hole SLSE-16, refer to press release dated April 3, 2023: 192m of 0.70% CuEq (0.59% Cu, 0.02% Mo, 0.07 g/t Au) within a broader interval of 712m of 0.45% CuEq (0.36% Cu, 0.02% Mo, 0.05 g/t Au) from surface.
Within the MRE, the ‘Indicative Starter Pit’ is comprised of Indicated mineral resources of 180 Mt at 0.82% CuEq (0.67% Cu, 0.03% Mo, 0.07 g/t Au) and Inferred mineral resources of 107 Mt at 0.73% CuEq (0.64% Cu, 0.02% Mo, 0.05 g/t Au) above a 0.6% CuEq cut-off grade. No economic analysis has been completed by the Company and there is no guarantee an ‘Indicative Starter Pit’ will be realized or prove to be economic. The ‘Indicative Starter Pit’ is based on the same assumptions as the MRE except utilized metal prices of US$1.00/lb Cu, US$7.50/lb Mo, and US$750/oz Au.
Technical Information and Quality Control & Quality Assurance
Sample assay results have been independently monitored through a quality control/quality assurance (“QA/QC”) program that includes the insertion of blind certified reference materials (standards), blanks and field duplicate samples. Logging and sampling are completed at a secured Company facility located in Quito, Ecuador. Drill core is cut in half on site and samples are securely transported to ALS Labs in Quito. Sample pulps are sent to ALS Labs in Lima, Peru and Vancouver, Canada for analysis. Total copper and molybdenum contents are determined by four-acid digestion with AAS finish. Gold is determined by fire assay of a 30-gram charge. In addition, selected pulp check samples are sent to Bureau Veritas lab in Lima, Peru. Both ALS Labs and Bureau Veritas lab are independent of Solaris. Solaris is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. Details on the surface sampling conducted at the Project are set out in the technical report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador” with an effective date of April 1, 2022, prepared by Mario E. Rossi and available on the Company’s SEDAR profile and website. The drillhole data has been verified by Jorge Fierro, M.Sc., DIC, PG, using data validation and quality assurance procedures under high industry standards.
Qualified Person
The scientific and technical content of this press release has been reviewed and approved by Jorge Fierro, M.Sc., DIC, PG, Vice President Exploration of Solaris who is a “Qualified Person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects. Jorge Fierro is a Registered Professional Geologist through the SME (registered member #4279075).
On behalf of the Board of Solaris Resources Inc.
“Daniel Earle”
President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: jwagenaar@solarisresources.com
About Solaris Resources Inc.
Solaris is a multi-asset exploration company, advancing a portfolio of copper and gold assets in the Americas, which includes: its primary focus, a world class large-scale resource with expansion and discovery potential at the Warintza Project in Ecuador; discovery potential at its Ricardo Project and Tamarugo Project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; and significant leverage to increasing copper prices through its 60% interest in the La Verde joint-venture project with a subsidiary of Teck Resources in Mexico.
Cautionary Notes and Forward-looking Statements
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will” and “expected” and similar expressions are intended to identify forward-looking statements. These statements include statements that a second and more intensely mineralized porphyry center was discovered 350m south of the original discovery at Warintza East and holds potential for notably improved grades in further growth at the Warintza Project, and that full assay results from SLSE-28 are expected within four to six weeks while follow-up hole SLSE-29 (in progress) is being drilled southeast from a recently constructed platform testing the extension of this new porphyry center up to 200m to the east in this area. Although Solaris believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. These statements are based on a variety of assumptions including assumptions made about the Company’s ability to advance exploration efforts at the Warintza Project; the results of such exploration efforts; and the Company’s ability to achieve its growth objectives. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Solaris Management’s Discussion and Analysis, for the year ended December 31, 2022 available at www.sedar.com. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a244eb37-8109-400d-a020-5d2225c5ec9d
https://www.globenewswire.com/NewsRoom/AttachmentNg/455a85f1-80f0-4827-865c-181a41e2e186
Aurania Announces Proposed 2023 Exploration Activities
https://www.newsfilecorp.com/release/162286
Toronto, Ontario--(Newsfile Corp. - April 13, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to announce its proposed 2023 exploration activities.
As the concessions for its mineral properties in Ecuador are fully renewed and in good standing for another year after payment of all concession fees in March, the Company is able to develop the 2023 exploration programs.
Aurania attended the Prospector's and Developer's Association of Canada meeting (PDAC) in Toronto the first week of March, and we were delighted by the interest shown by several Major companies in our Ecuador asset. As a result of follow-up meetings there are now several companies in our data room. The primary interest has been in our porphyry copper and sediment-hosted copper-silver prospects.
To date, approximately 45% of the Awacha Porphyry Target has been covered by "Anaconda-style Mapping." This is an intensive mapping technique that was originally developed by the famous Anaconda Copper Company, and has been taught to the Aurania geological staff by consultant Dr. Steve Garwin. This target is approximately 11 km x 5 km in size and was discovered by stream sediment sampling which showed elevated copper and molybdenum in the vicinity of two strong airborne magnetic anomalies. This size is significantly larger than any copper porphyry known and so our working hypothesis is that it is a cluster of porphyries, and similar to the Warintza cluster to the south of our concessions. Intrusive rock types from gabbro to diorite to monzonite and syenite have been mapped. Many of these intrusives show secondary biotite (potassic) alteration and fine quartz veins containing molybdenite or a centre line of chalcopyrite. These so called distinctive "B veins" are classic evidence of mineralized porphyry systems. An independent explanation of B veins can be found at: https://www.youtube.com/watch?v=gL0WzJ70z3s.
Figure 1: Quartz vein with centre line of chalcopyrite, covellite and pyrite. US cent for scale.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/162286_9d00971f443bea07_001full.jpg
Most of the Awacha area is covered by a unit of black shale which obscures the geology except where streams have cut down through the sediments and exposed the porphyry. The area is also covered by thick jungle. Nevertheless, Terraspec Mineral Spectrometer analysis of soils in the southern half of the anomaly indicates chlorite, kaolinite, white micas, dickite and pyrophyllite which are compatible with porphyry-style alteration. The last two minerals are typically found in the upper part of porphyry systems.
Copper soil anomalies are patchy, which is in keeping with soil results seen near outcropping sediment hosted copper elsewhere on the property. It would seem that copper is easily flushed away from surface soils by the significant rainfall in the area. Molybdenum however, which is essentially insoluble and immobile presents a much more coherent group of anomalies. Half of the Awacha target is still to be sampled for soils.
The reinterpretation of the surficial geology and structure in the areas of outcropping sediment-hosted copper-silver and zinc-lead-silver has generated a large number of compelling drill targets (see press release dated October 17, 2022). This copper-silver-zinc system across the concessions is 38 kilometres in lngth and is open to the north over an additional 15 kilometres. We believe this is perhaps one of the best areas of the property to find an economic ore deposit, considering the numerous high assays already yielded to date. A few areas are highlighted for follow-up, but we concede that a comprehensive programme here is more appropriate for a Major mining company partner.
The Tatasham epithermal gold/porphyry copper target is compelling due to the presence of what are believed to be pipe breccias. The area is, however, in steep terrain and the geology is mostly covered by post-mineral sedimentary cover and does not outcrop. Soil samples along the ridgeline above the previous porphyry drilling campaign yielded anomalous antimony, which is a pathfinder element in gold systems. An additional soil survey is required at Tatasham to extend the antimony anomaly that is still open to the north. Intensive mapping and prospecting are required. The discovery of the epithermal system at Tatasham was unexpected, in our pursuit of a copper porphyry target indicated by geophysics. That porphyry target is still valid, but it may lie at considerable depth, or it may lie laterally.
Over the next six months it is intended to finish the Anaconda mapping on Awacha, and bring it to drill readiness. At the same time, Tatasham will be re-examined in the belief that the antimony anomaly in soils may be due to a subcropping mineralized system. The Fruta del Norte gold deposit was discovered by drilling a geochemical anomaly of antimony, arsenic and mercury which had virtually no gold on surface. Aurania is currently investigating the feasibility of conducting an Induced Polarization (IP) geophysical survey at Tatasham and Awacha.
The proposed exploration programmes are dependent on raising further funding. The proceeds of the current private placement (as announced on March 13, 2023 and March 23, 2023) to date, have been applied to concession fees and general and administrative expenses.
Qualified Person
The geological information contained in this news release has been verified and approved by Aurania's VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes Aurania's objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company's teams being on track ahead of any drill program, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. 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. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and copper; and. those risks set out in the Company's public documents filed on SEDAR. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Luminex Discovers New Mineralized Breccia Pipe Adjacent to Cuyes West; 20 metres of 4.78 g/t Au Eq and 15 Metres of 6.68 g/t Au Eq
https://www.newswire.ca/news-releases/luminex-discovers-new-mineralized-breccia-pipe-adjacent-to-cuyes-west-20-metres-of-4-78-g-t-au-eq-and-15-metres-of-6-68-g-t-au-eq-837267608.html
Luminex Resources Corp. Apr 11, 2023, 07:00 ET
Cuyes West Drilling Highlights:
CU23-20 – 211.0 metres grading 1.18 g/t Au Eq, including 20.0 metres grading 4.78 g/t Au Eq
CU23-22 – 211.0 metres grading 1.16 g/t Au Eq, including 15.0 metres grading 6.68 g/t Au Eq
VANCOUVER, BC, April 11, 2023 /CNW/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF)
Solaris Discovers New Porphyry Southwest of Warintza Central, with Values up to 1.6% Cu and 630 ppm Mo in Outcrop Sampling
https://ca.finance.yahoo.com/news/solaris-discovers-porphyry-southwest-warintza-110000423.html
Solaris Resources
Tue, April 11, 2023 at 4:00 a.m. PDT·
LUNDIN GOLD REPORTS ALL TIME HIGH QUARTERLY PRODUCTION OF 140,021 OUNCES OF GOLD IN THE FIRST QUARTER OF 2023
https://www.newswire.ca/news-releases/lundin-gold-reports-all-time-high-quarterly-production-of-140-021-ounces-of-gold-in-the-first-quarter-of-2023-813142935.html
Lundin Gold Inc. Apr 05, 2023, 17:00 ET
VANCOUVER, BC, April 5, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG)
Solaris Intersects 626m of 0.50% CuEq From Surface in Expansion Drilling at Warintza East and Identifies Second, Higher Grade Porphyry Center Opening Southern Extension Potential
https://ca.finance.yahoo.com/news/solaris-intersects-626m-0-50-110000981.html
Solaris Resources
Mon, April 3, 2023 at 4:00 a.m. PDT
ADVENTUS AND SALAZAR ANNOUNCE ADDITIONAL EL DOMO UNDERGROUND DEPOSIT DRILLING RESULTS INCLUDING 14 METRES OF 4.44% COPPER EQUIVALENT
https://www.newswire.ca/news-releases/adventus-and-salazar-announce-additional-el-domo-underground-deposit-drilling-results-including-14-metres-of-4-44-copper-equivalent-805196354.html
Adventus Mining Corporation Mar 20, 2023, 09:44 ET
TORONTO, March 20, 2023 /CNW/ - Adventus Mining Corporation ("Adventus") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF
Solaris Reports 186m of 0.64% CuEq From Near Surface, Continues to Expand ‘Indicative Starter Pit’ at Warintza Central
https://ca.finance.yahoo.com/news/solaris-reports-186m-0-64-113000560.html
Solaris Resources
Mon, March 13, 2023 at 4:30 a.m. PDT
LUNDIN GOLD ADDS 1.58 MILLION OUNCES OF GOLD TO FRUTA DEL NORTE ORIGINAL MINERAL RESERVES, MORE THAN REPLACING MINED MINERAL RESERVES SINCE THE BEGINNING OF OPERATIONS
https://www.newswire.ca/news-releases/lundin-gold-adds-1-58-million-ounces-of-gold-to-fruta-del-norte-original-mineral-reserves-more-than-replacing-mined-mineral-reserves-since-the-beginning-of-operations-806815039.html
Lundin Gold Inc. Feb 27, 2023, 08:00 ET
Updated Mineral Reserves at Fruta del Norte of 5.02 million ounces
VANCOUVER, BC, Feb. 27, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF
LUNDIN GOLD REPORTS FOURTH QUARTER AND FULL YEAR RESULTS
https://www.newswire.ca/news-releases/lundin-gold-reports-fourth-quarter-and-full-year-results-835454433.html
Lundin Gold Inc. Feb 23, 2023, 19:30 ET
Production and Cost Performance Beats Guidance for Second Year Running
VANCOUVER, BC, Feb. 23, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
Luminex Extends Cuyes West to Depth, with 5.0m grading 14.47g/t Au Eq and Identifies Wider, High-grade Zone Including 3.0m Grading 39.87 g/t Au Eq
https://www.newswire.ca/news-releases/luminex-extends-cuyes-west-to-depth-with-5-0m-grading-14-47g-t-au-eq-and-identifies-wider-high-grade-zone-including-3-0m-grading-39-87-g-t-au-eq-870359640.html
Luminex Resources Corp. Mar 03, 2023, 06:30 ET
Cuyes West Drilling Highlights:
CU23-17 – 27.0 metres grading 3.71 g/t Au Eq including 5.0 metres grading 14.47 g/t Au Eq
CU23-18 – 3.0 metres grading 39.87 g/t Au Eq and 31.0 metres grading 1.47 g/t Au Eq
VANCOUVER, BC, March 3, 2023 /CNW/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF)
Cornerstone Announces Completion of Merger with SolGold
https://ca.finance.yahoo.com/news/cornerstone-announces-completion-merger-solgold-133800564.html
Cornerstone Capital Resources Inc.
Fri, February 24, 2023 at 5:38 a.m. PST·2 min read
OTTAWA, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone”) (TSXV:CGP; OTC:CTNXF; FWB:GWN1) is pleased to announce the completion of the plan of arrangement (the “Arrangement”) with SolGold plc (LSE:SOLG; TSX:SOLG) (“SolGold”) (as previously announced in Cornerstone’s October 7, 2022 press release) effective February 24, 2023. Cornerstone is now a wholly-owned subsidiary of SolGold.
In connection with the Arrangement, SolGold acquired all of the issued and outstanding common shares of Cornerstone (the “Cornerstone Shares”), other than the Cornerstone Shares already held, directly or indirectly, by SolGold. In particular, holders of Cornerstone Shares (“Cornerstone Shareholders”), other than SolGold, received 15 SolGold ordinary shares (“SolGold Shares”) for each Cornerstone Share held. The SolGold Shares that were issued pursuant to the Arrangement have been admitted to the standard listing segment of the Official List of the UK Financial Conduct Authority and have been admitted for listing and trading on the Main Market of the London Stock Exchange and the Toronto Stock Exchange under the symbol “SOLG”, subject only to the satisfaction of customary listing conditions.
The Cornerstone Shares are expected to be de-listed from the TSX Venture Exchange after the close of trading on February 28, 2023. It is also expected that the Cornerstone Shares will cease trading on the OTC Pink Market and Frankfurt Stock Exchange. SolGold will cause Cornerstone to apply to the relevant Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws.
Further details regarding the Arrangement are available in the management information circular of Cornerstone dated December 7, 2022 (the “Circular”). In order to receive the consideration to which they are entitled in connection with the Arrangement, each registered Cornerstone Shareholder is encouraged to complete, sign, date and return a letter of transmittal, together with the share certificate(s) or DRS Advice Statement(s) representing their Cornerstone Shares, to the depositary, Computershare Investor Services Inc., as soon as possible. Copies of the Circular and the letter of transmittal are available on Cornerstone’s SEDAR profile at www.sedar.com.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including a direct & indirect interest in the Cascabel gold-enriched copper porphyry in northwest Ecuador.
For further information, please contact:
ir@cornerstoneresources.ca
Cautionary Notice:
This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. This forward-looking information includes or relates to, among other things: the satisfaction of customary listing conditions of the London Stock Exchange and Toronto Stock Exchange in connection with the listing of the SolGold Shares issued pursuant to the Arrangement; the anticipated timing of the de-listing of the Cornerstone Shares from the TSX Venture Exchange and removal of the Cornerstone Shares from the OTC Pink Market and the Frankfurt Stock Exchange; and Cornerstone’s application to cease to be a reporting issuer under applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information involves and is subject to known and unknown risks, uncertainties and other factors beyond Cornerstone’s control that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry; the failure to satisfy the customary listing conditions of the London Stock Exchange and Toronto Stock Exchange in connection with the listing of the SolGold Shares issued pursuant to the Arrangement; and other risks inherent to the business carried out by Cornerstone and/or factors beyond its control which could have a material adverse effect on Cornerstone. Although Cornerstone has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Cornerstone does not undertake any obligation to disseminate any updates or revisions to such forward-looking information, except as required by the policies of the TSX Venture Exchange or in accordance with applicable Canadian securities laws.
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.
Dundee Precious Metals Announces Significant Diamond Drilling Results at Tierras Coloradas, Ecuador; Results Include Drill Intercept of 17.3 metres at 46.09 g/t Au
https://ca.finance.yahoo.com/news/dundee-precious-metals-announces-significant-114500276.html
Dundee Precious Metals, Inc.
Mon, February 27, 2023 at 3:45 a.m. PST·
LUNDIN GOLD ADDS 1.58 MILLION OUNCES OF GOLD TO FRUTA DEL NORTE ORIGINAL MINERAL RESERVES, MORE THAN REPLACING MINED MINERAL RESERVES SINCE THE BEGINNING OF OPERATIONS
https://www.newswire.ca/news-releases/lundin-gold-adds-1-58-million-ounces-of-gold-to-fruta-del-norte-original-mineral-reserves-more-than-replacing-mined-mineral-reserves-since-the-beginning-of-operations-806815039.html
Lundin Gold Inc. Feb 27, 2023, 08:00 ET
Updated Mineral Reserves at Fruta del Norte of 5.02 million ounces
VANCOUVER, BC, Feb. 27, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
LUNDIN GOLD REPORTS FOURTH QUARTER AND FULL YEAR RESULTS
https://www.newswire.ca/news-releases/lundin-gold-reports-fourth-quarter-and-full-year-results-835454433.html
Lundin Gold Inc. Feb 23, 2023, 19:30 ET
Production and Cost Performance Beats Guidance for Second Year Running
VANCOUVER, BC, Feb. 23, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
ADVENTUS AND SALAZAR ANNOUNCE ADDITIONAL EL DOMO UNDERGROUND DEPOSIT DRILLING RESULTS INCLUDING 21 METRES OF 6.03% COPPER EQUIVALENT
https://www.newswire.ca/news-releases/adventus-and-salazar-announce-additional-el-domo-underground-deposit-drilling-results-including-21-metres-of-6-03-copper-equivalent-850782936.html
Adventus Mining Corporation Feb 27, 2023, 06:45 ET
TORONTO, Feb. 27, 2023 /CNW/ - Adventus Mining Corporation ("Adventus") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF)
Solaris Expands Warintza West to 1.2km by 0.7km, Identifies New Potential
https://ca.finance.yahoo.com/news/solaris-expands-warintza-west-1-123000322.html
Solaris Resources
Mon, February 13, 2023 at 4:30 a.m. PS
Lucky Minerals Discovers Gold in the Initial 384 Metres of Drilling at Wayka
https://www.accesswire.com/738272/Lucky-Minerals-Discovers-Gold-in-the-Initial-384-Metres-of-Drilling-at-Wayka
Tuesday, February 7, 2023 7:30 AM
VANCOUVER, BC / ACCESSWIRE / February 7, 2023 / Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY)
LUNDIN GOLD REPORTS PROMISING RESULTS FROM THE FIRST ROUND OF NEAR-MINE EXPLORATION DRILLING AT FRUTA DEL NORTE
https://www.newswire.ca/news-releases/lundin-gold-reports-promising-results-from-the-first-round-of-near-mine-exploration-drilling-at-fruta-del-norte-876664072.html
Lundin Gold Inc. Jan 26, 2023, 18:00 ET
VANCOUVER, BC, Jan. 26, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
Luminex Hits with Cuyes West Step-out Holes: 4.0m Grading 19.35 g/t Au Eq and 2.5m Grading 18.54 g/t Au Eq
https://www.newswire.ca/news-releases/luminex-hits-with-cuyes-west-step-out-holes-4-0m-grading-19-35-g-t-au-eq-and-2-5m-grading-18-54-g-t-au-eq-883270434.html
Luminex Resources Corp. Jan 24, 2023, 06:30 ET
Solaris Reports High Recoveries of Over 90% Copper and 80% Molybdenum from Warintza Project Metallurgical Test Work
https://ca.finance.yahoo.com/news/solaris-reports-high-recoveries-over-123000561.html
Solaris Resources
Mon, January 23, 2023 at 4:30 a.m. PST
Solaris Significantly Expands Warintza East Discovery in Continued Extensional Drilling
https://ca.finance.yahoo.com/news/solaris-significantly-expands-warintza-east-120000307.html
Solaris Resources
Tue, January 17, 2023 at 4:00 a.m. PST
LUNDIN GOLD BEATS 2022 GUIDANCE WITH GOLD PRODUCTION OF 476,329 OUNCES
https://www.newswire.ca/news-releases/lundin-gold-beats-2022-guidance-with-gold-production-of-476-329-ounces-824481888.html
Lundin Gold Inc. Jan 09, 2023, 17:00 ET
VANCOUVER, BC, Jan. 9, 2023 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
Atico Receives Approval of its EIA for the Construction and Operation of the 69 kV Powerline and Substation at its La Plata Project, Ecuador
https://ca.finance.yahoo.com/news/atico-receives-approval-eia-construction-211700849.html
Atico Mining Corporation
Thu, January 12, 2023 at 1:17 p.m. PST·3 min read
VANCOUVER, British Columbia, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to announce that it has received approval of the Environmental Impact Assessment (“EIA”) for the construction, operation, maintenance and closure of the 69 kV powerline and substation required for its 100% owned La Plata mining project in Ecuador (the “La Plata project”).
The Environmental Ministry of Ecuador, known as “Ministerio del Ambiente, Agua y Transición Ecológica” (“MAATE”) has reviewed and delivered a favorable technical review for the 6.5 km powerline that will power the operations of the La Plata project. The La Plata project has been identified by the President of Ecuador, Guillermo Lasso as a strategic project and a component of the country’s economic growth strategy.
The EIA baseline process for the powerline started over 2 years ago when Atico signed an agreement with the country’s National Electricity Corporation (CNEL). CNEL along with the Company’s team, independent environmental experts as well as qualified professionals were responsible for delivering the complete design, network integration and permitting of the powerline. The powerline allows the interconnection of the La Plata Project’s substation to the existing La Palma substation which will integrate the La Plata project to the national power grid.
Mr. Alain Bureau, President of Atico stated, “We are very pleased to announce the receipt of the EIA approval allowing the La Plata project to be connected to the national power grid. This approval is the result of a systematic review of all aspects and benefits this project brings to the region and another significant step towards construction.” Mr. Alain Bureau continued, “I would like to thank CNEL and Atico’s engineers and technicians for their tremendous teamwork and for delivering a study of such high quality.”
The approval of the EIA is a key milestone towards allowing the Company to begin construction of the new process plant facility. This approval enables the Company to advance on its normal course to complete the environmental hearings as per the Country’s legislations while the Company remains confident all permits, and public hearings, will be completed during 2023.
La Plata Project
Gold-bearing sulphide mineralization at La Plata occurs as compositional banding composed of chalcopyrite, sphalerite and pyrite laminae with barite occurring as clasts and also as layers. The mineralised lenses have also been dislocated by a few faults and dolerite dikes cutting the body.
The La Plata project is amongst the highest-grade gold-copper VMS deposits in which base and precious metal mineralization is interpreted to have formed as part of multiple volcanic episodes that created a stacked volcanic-exhalite hydrothermal sequence considered favorable for hosting additional VMS lenses. The recent drilling results in the southern portion of the deposit have encountered deeper mineralisation, and an extension of mineralisation to the north has been discovered by recent trenching results.
The La Plata independent Preliminary Economic Assessment (“PEA”) dated March 30th 2019, was prepared pursuant to National Instrument 43-101 (“NI 43-101”) and reports the La Plata inferred resources at 1.9 million tons at an average grade of 4.1 g/t Au, 49.4g/t silver, 3.3% Cu, 4.5% Zn, 0.6% Pb as available on SEDAR.
The La Plata project consists of two concessions covering a total area of 2,300 hectares along its 9-kilometer length, which contains known mineralization in two VMS lenses and nine priority exploration targets.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
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.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com
Cornerstone Shareholders Approve Arrangement with SolGold
https://ca.finance.yahoo.com/news/cornerstone-shareholders-approve-arrangement-solgold-171600578.html
Cornerstone Capital Resources Inc.
Mon, January 9, 2023 at 9:16 a.m. PST·2 min read
OTTAWA, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone”) (TSXV:CGP; OTC:CTNXF; FWB:GWN1) is pleased to announce that at a special shareholder meeting held today (the “Meeting”), holders of common shares of Cornerstone (“Cornerstone Shareholders”) voted overwhelmingly in favour of the special resolution (the “Arrangement Resolution”) approving the previously-announced plan of arrangement (the “Arrangement”) pursuant to which SolGold plc (LSE:SOLG; TSX:SOLG) (“SolGold”) will acquire all of the issued and outstanding common shares of Cornerstone (the “Cornerstone Shares”), other than the Cornerstone Shares already held, directly or indirectly, by SolGold.
The Arrangement Resolution was approved by 99.98% of the votes cast by Cornerstone Shareholders present at the virtual Meeting or represented by proxy and entitled to vote at the Meeting (99.97% excluding the votes cast by Cornerstone Shareholders that were required to be excluded pursuant to Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions).
Greg Chamandy, Chairman of Cornerstone, and Brooke Macdonald, President and Chief Executive Officer of Cornerstone, jointly stated:
“We thank our shareholders for the near unanimous support of the merger with SolGold. We are very excited about the future prospects of SolGold under the strong leadership of Scott Caldwell. We look forward to being SolGold shareholders as the strategic review will now be the number one priority to ensure all shareholders are appropriately rewarded for supporting the extraordinary discovery at Cascabel.”
Cornerstone will seek a final order of the Court of King’s Bench of Alberta to approve the Arrangement at a hearing scheduled to be held on January 10, 2023. Subject to obtaining all required approvals and the satisfaction or waiver of all required conditions to closing, the Arrangement is expected to close in late January 2023.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including a direct & indirect interest in the Cascabel gold-enriched copper porphyry in northwest Ecuador
For further information, please contact:
Cornerstone
Brooke Macdonald (CEO)
ir@cornerstoneresources.ca
Cautionary Notice:
This news release contains forward-looking statements which constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. This forward-looking information includes or relates to, among other things, the anticipated benefits of SolGold’s new strategic direction and the anticipated timing of the hearing in respect of the final order and closing of the Arrangement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information involves and is subject to known and unknown risks, uncertainties and other factors beyond Cornerstone’s control that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry; the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, court approval and other conditions of closing necessary to complete the Arrangement or for other reasons; the failure to realize the expected benefits of the Arrangement; and other risks inherent to the business carried out by Cornerstone and/or factors beyond its control which could have a material adverse effect on Cornerstone or its ability to complete the Arrangement. Although Cornerstone has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Cornerstone does not undertake any obligation to disseminate any updates or revisions to such forward-looking information, except as required by the policies of the TSX Venture Exchange or in accordance with applicable Canadian securities laws.
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.
Solaris and Government of Ecuador Sign Investment Contract for Warintza Project, Securing Investment Protections, Regulatory and Fiscal Stability, and Tax Incentives
https://ca.finance.yahoo.com/news/solaris-government-ecuador-sign-investment-170000132.html
Solaris Resources
Thu, December 22, 2022 at 9:00 a.m. PST·2 min read
VANCOUVER, British Columbia, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the Company”) is pleased to announce that Solaris and the Government of Ecuador have signed the Investment Contract for the Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador, which ratifies the Investment Protection Agreement (“IPA”) previously announced on June 9, 2022.
Mr. Daniel Earle, President & CEO, commented: “We are very grateful to the Government of Ecuador and our host communities for their support in reaching this major milestone. The Investment Contract provides a foundation of certainty, significantly de-risking the Warintza Project by securing a stable regulatory and fiscal framework with international legal protections for the Project while also enhancing its returns through permanent new tax incentives.”
Highlights
The Investment Contract provides for the following protections and incentives for the duration of the title of the Project which extends with renewal to 2066:
Security of investment
Stability of mining law
Stability of taxes at a reduced income tax rate of 20% (25% previously)
Exemption from capital outflow tax (5% previously)
Exemption from import duties (up to 5% previously)
Detailed procedures for dispute resolution and international arbitration protection
Mr. Julio José Prado, Minister of Production, Foreign Trade, Investment, and Fisheries of the Government of Ecuador, stated, “I want to thank Solaris for the commitment with the country and with Morona Santiago, it is an example of sustainable mining, responsible with the environment and the communities. Since the first contacts in the Ecuador Open for Business event, we have worked for a year and today we signed the Investment Contract. The Warintza Project has a very important influence, and they are working with the community in an exemplary manner; this will allow more development and prosperity for the zone and for Ecuador.”
Mr. Fernando Santos Alvite, Minister of Energy and Mines of the Government of Ecuador, stated, "I wish the best of success to the Warintza Project. This is a very important project for the country in terms of scale and investment. It is also important for what it represents, which is a great commitment and understanding between the communities and the Company.”
Mr. Vicente Tsakimp, Lead Coordinator of the Warintza Project Strategic Alliance, stated, “The Warints and Yawi Shuar Centers are glad that the Warintza Project is advancing and that we are part of it. Our work and coordination with the Company are an example that participatory mining can be done, and we are proud of everything we have achieved.”
On behalf of the Board of Solaris Resources Inc.
“Daniel Earle”
President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: jwagenaar@solarisresources.com
About Solaris Resources Inc.
Solaris is a multi-asset exploration company, advancing a portfolio of copper and gold assets in the Americas, which includes: its primary focus, a world class large-scale resource with expansion and discovery potential at the Warintza Project in Ecuador; discovery potential at its Ricardo Project and optioned and owned grass-roots Tamarugo Project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; and significant leverage to increasing copper prices through its 60% interest in the La Verde joint-venture project with a subsidiary of Teck Resources in Mexico.
Cautionary Notes and Forward-looking Statements
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will” and “expected” and similar expressions are intended to identify forward-looking statements. These statements include statements that the Investment Contract provides a foundation of certainty, significantly de-risking the Warintza Project by securing a stable regulatory and fiscal framework with international legal protections while also enhancing its returns through permanent new tax incentives, the Investment Contract provides for the following incentives for the duration of the title of the Project which extends to 2066 with renewal: security of investment, stability of mining law, stability of taxes at a reduced income tax rate of 20% (25% previously), exemption from capital outflow tax (5% previously), exemption from import duties (up to 5% previously), and detailed procedures for dispute resolution and international arbitration protection. Although Solaris believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. These statements are based on a variety of assumptions including assumptions made about the Company’s ability to advance efforts at the Warintza Project; and the Company’s ability to achieve its growth objectives. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Solaris Management’s Discussion and Analysis for the year ended December 31, 2021 available at www.sedar.com. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.
Lucky Minerals: Kelly Zone Channel 20 Returns 1.04 G/T Gold Across 13 Metres at the Wayka Project
https://www.accesswire.com/731222/Kelly-Zone-Channel-20-Returns-104-GT-Gold-Across-13-Metres-at-the-Wayka-Project
Monday, December 12, 2022 7:30 AM
VANCOUVER, BC / ACCESSWIRE / December 12, 2022 / Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce it continues geological mapping, trenching and channel sampling at the Wayka epithermal gold discovery at its 100% owned 55,000 hectare Fortuna Property ("Fortuna") in Ecuador.
Wayka lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 metres to 3,700 metres above sea level and is bound to the East by the El Buitre Porphyry and to the West by the Emma Porphyry.
Channel 20 returns 1.04 g/t gold across 13 metres in the Kelly Zone. This new channel was designed to follow up Trench 12 which was previously reported (see News Release - October 25, 2021) with an average of 1.21 g/t gold across 10 metres. Trench 12 was oriented in a northeast direction which is the general trend of many structures in the area. Channel 20 was completed to cut across the structure, where outcrop availability makes it possible.
Rock saw channel sampling was completed within a breccia zone with subrounded to subangular fragments comprised of mostly altered dacite, some remnant fragments of meta-granite and schist in a silica-limonite matrix, with mainly silicified and advanced argillic altered fragments. It lies within a large breccia structure measuring, based on outcrop availability, at least 60 metres by 25 metres, and remains open in all directions with a general trend to the northeast. Furthermore, Channel 20 remains open in both directions. Please see below a sample and assay table as well as a trench geology and sample location map.
Mineralized breccia in Kelly Zone now measured to be 60 metres by 25 metres and is open in all directions
Channel 20: Sample and Assay Table
Wayka Trench and Channel Geology & Sample Map
Both Channel 20 and Trench 12 lie within a breccia zone that coincides with a mag low. Below is a map of an aerial photo that is overlain by an image showing a mag low (blue area). This map includes the location of Channels 15, 20 and Trench 12. It also shows the interpreted size (to date) of the breccia zone (area within dashed red lines) of approximately 60 metres by 25 metres, and which remains open in all directions. Also shown are proposed channels P-1, P-2 and P-3 which is an extension of Channel 15 to the northwest.
The location of this breccia zone which coincides with a magnetic low is significant, even more so by the fact that these breccias do carry gold. The low mag anomalies result from the passage of hydrothermal fluids through rocks which destroy magnetite and cause the low magnetic signatures. The fluids alter the rocks producing alteration zones such as silicification and advanced argillic altered rocks which we have identified in the Kelly breccia zone.
Map of an aerial photo that is overlain by a mag low image (blue area) showing area of the breccia zone, and proposed new channels
Francois Perron President and CEO states "Work at Wayka's Kelly Zone is continuing. The geological team is expanding the scale of the mineralized system at surface, and it remains open in all directions. The mineralization in this area is hosted in volcanic rocks which is different than that observed at the Discovery Zone 700m to the South. This area is exciting as it coincides with a magnetic low which highlights the potential of the other areas with a similar magnetic signature in and around Wayka."
As geological field work at Wayka continues, we anticipate our understanding of the mineralized system to improve as more detailed work is completed. At present, Wayka has been observed to remain open in all directions.
Fortuna - Next Steps
Wayka
Current field work is focused on surface trenching around the Kelly and Discovery zones. There are approximately 60 gold assays pending.
QA/QC Protocols
All exploration work is completed following QA/QC protocols and include the insertion of a coarse blank, a standard and duplicate sample on every batch of 25 samples.
Samples are being submitted to ALS Chemex Labs in Quito for preparation work, and the analytical work is completed at their lab facility in Lima, Peru. ALS Chemex is an ISO certified and accredited laboratory. Results will be released as they are received.
About Lucky
Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.
The Company's Fortuna Project is comprised of twelve contiguous, 550 km2 (55,000 Hectares, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.
Covid-19 Safety Protocols
Lucky Minerals has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are housed in separate and private accommodations and are isolated from the community.
Qualified Person
Victor Jaramillo, M.Sc.A., P.Geo., Lucky's Exploration Manager and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Fortuna Project for Lucky Minerals and has reviewed and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
"Francois Perron"
Chief Executive Officer
Further information on Lucky can be found on the Company's website at www.luckyminerals.com and at www.sedar.com, or by contacting Francois Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.
Or by contacting:
Renmark Financial Communications Inc.
Kerry Schacter: kschacter@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company's forward-looking information. Important factors that could cause actual results to differ materially from the Company's expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
SOURCE: Lucky Minerals Inc.
Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground - Including 9.46 metres of 8.83% Copper Equivalent
https://www.newswire.ca/news-releases/adventus-mining-and-salazar-announce-additional-drilling-results-for-el-domo-underground-including-9-46-metres-of-8-83-copper-equivalent-818528817.html
Adventus Mining Corporation Dec 07, 2022, 06:45 ET
Lucky Minerals: Wayka's Kelly Zone: Channel 15 Returns 0.23 g/t Gold Over 13.0 Metres, Including 0.36 g/t Gold Over 4.0 Metres
https://www.accesswire.com/729551/Waykas-Kelly-Zone-Channel-15-Returns-023-gt-Gold-Over-130-Metres-Including-036-gt-Gold-Over-40-Metres
Thursday, December 1, 2022 7:30 AM
VANCOUVER, BC / ACCESSWIRE / December 1, 2022 / Lucky Minerals Inc.(TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY)
LUNDIN GOLD THREE YEAR OUTLOOK ANTICIPATES CONTINUED GROWTH IN GOLD PRODUCTION FROM FRUTA DEL NORTE
https://www.newswire.ca/news-releases/lundin-gold-three-year-outlook-anticipates-continued-growth-in-gold-production-from-fruta-del-norte-860996958.html
Lundin Gold Inc. Nov 29, 2022, 17:00 ET
2023 production estimated between 425,000 to 475,000 ounces
VANCOUVER, BC, Nov. 29, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
Solaris Reports 108m of 1.20% CuEq From Near Surface, Continues to Expand ‘Indicative Starter Pit’ at Warintza Central
https://ca.finance.yahoo.com/news/solaris-reports-108m-1-20-120000422.html
Solaris Resources
Mon, December 5, 2022 at 4:00 a.m
Luminex Continues to Expand Cuyes West High-Grade Underground Mineralization; 7.0 Metres of 12.2 g/t Au Eq
https://www.newswire.ca/news-releases/luminex-continues-to-expand-cuyes-west-high-grade-underground-mineralization-7-0-metres-of-12-2-g-t-au-eq-835197352.html
Luminex Resources Corp. Dec 05, 2022, 06:30 ET
LUNDIN GOLD REPORTS SIGNIFICANT DRILLING INTERCEPTS FROM ITS CONVERSION PROGRAM AT THE FRUTA DEL NORTE DEPOSIT
https://www.newswire.ca/news-releases/lundin-gold-reports-significant-drilling-intercepts-from-its-conversion-program-at-the-fruta-del-norte-deposit-847100701.html
Lundin Gold Inc. Nov 21, 2022, 17:00 ET
VANCOUVER, BC, Nov. 21, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
Salazar Announces Award of Mining Contract for El Domo Copper-Gold Project
https://www.newsfilecorp.com/release/144692
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2022) - SALAZAR RESOURCES LIMITED (TSXV: SRL) (OTCQX: SRLZF) (FSE: CCG) ("Salazar" or the "Company") is pleased to announce that negotiations have concluded for the award of the open pit mining contract to a joint-venture between STRACON S.A., a well-established Peruvian mining contractor with operations throughout the Americas, and RIPCONCIV, a large and respected Ecuadorian infrastructure construction contractor ("STRACON-RIPCONCIV JV") for the development of the El Domo - Curipamba copper-gold project located in central Ecuador (the "Project").
The mining contract has been structured in an alliance-partnership model to ensure focus on the best solutions for the Project and the optimal allocation of risks to the parties best equipped to manage and mitigate. The contract term is for a duration of 48-months which is projected to include the construction period as well as the first two years of operations. There is an option for the contract with STRACON-RIPCONCIV JV to be extended upon mutual agreement between the parties.
Said Company President and CEO Mr. Fredy Salazar, "We are extremely pleased that this contract has been finalized and thank Christian Kargl-Simard and the Adventus team for their efforts in achieving this key milestone. The contract has been awarded to a very strong group and we look forward to the work beginning and moving El Domo towards production."
This contract is the largest anticipated to be awarded for the Project and includes scope generally consisting of open pit pre-strip and mining, and construction of the tailings facility, waste rock facilities, and associated mine infrastructure.
About Salazar Resources
Salazar Resources is focused on creating value and positive change through discovery, exploration and development in Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines.
Salazar Resources has a wholly-owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co-founded The Salazar Foundation, an independent non-profit organisation dedicated to sustainable progress through economic development.
For further information about Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President and Corporate Secretary, at merlin@salazarresources.com or ir@salazarresources.com or at +1 604 685 9316.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Luminex Announces Positive Exploration Drilling Results for Copper at El Hito and Orquideas
https://www.newswire.ca/news-releases/luminex-announces-positive-exploration-drilling-results-for-copper-at-el-hito-and-orquideas-856148570.html
Luminex Resources Corp. Nov 15, 2022, 07:00 ET
Aurania Defines Porphyry Drill Targets at Tatasham in Ecuador
https://www.newsfilecorp.com/release/144457
Toronto, Ontario--(Newsfile Corp. - November 16, 2022) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to announce that results of the intensive "Anaconda method" mapping program (see press releases dated August 8, 2022 and September 26, 2022) at the Company's Tatasham target together with Infra-Red (IR) spectrometry (Terraspec), soil geochemical results, airborne magnetics and the MobileMT ("MMT") survey have enabled Aurania's exploration team to define porphyry drill target areas at Aurania's Lost Cities-Cutucu project in southeastern Ecuador (the "Project"). Drilling is expected to commence at Tatasham around the end of November/beginning of December.
The Anaconda mapping at Tatasham took place over an area of three-square kilometres ("km") where the soil geochemistry anomalies coincided with the magnetic high. In parallel, IR spectrometry (Terraspec) was conducted on a selection of rock samples collected during the mapping program. Magnetic data collected during the 2017 airborne survey on the Project was merged with the data collected during the MMT survey that was flown interpolated between the 2017 survey lines. The interpretation of the combined data has resulted in a new magnetic inversion that is more accurate than the previous version.
The magnetic inversion shows the presence of a low magnetic area lying within the major high magnetic anomaly. This low magnetic is interpreted to be a classic de-magnetization of the rock by hydrothermal alteration related to the core of a porphyry system. The IR spectrometry (Terraspec) study shows the presence of hydrothermal alteration zones characterized by illite over the magnetic low anomaly that extends in the west part along a major N-trending ridge, which is inferred to represent a regional structure. Mapped zones of elevated fracture abundance and silicification are coinciding with the illite alteration zone (see fig. 1). Mapping also highlighted a central region of elevated goethite / hematite ratios, which is inferred to represent the oxidation of rocks with elevated chalcopyrite / pyrite ratios (see fig. 2).
The data was reviewed by Senior Technical Advisor, Dr. Steven Garwin, together with Aurania's exploration team to define specific target areas for the upcoming drill program planned at Tatasham. The target areas of interest are distributed over 3.5 km along the anomalous N-trending ridge and are planned to test the following:
The middle part of a zone of interest, characterized by northerly-trending, illite- and silica-alteration zones, elevated goethite / hematite and a magnetic high and adjacent magnetic low;
An area beneath an outcrop of NE-trending, sheeted quartz veins that lie along the southern margin of a magnetic high; and
The northern extent of the mapped illite alteration zone which is also a major MMT conductive zone.
The planned program at Tatasham is an iterative process and will be subject to change as drilling progresses.
Figure 1: Total magnetic intensity inversion map at 1200m above sea level (ASL) with the silicification from the mapping and the hydrothermal alterations from the IR spectrometry (Terraspec) study. Illite is a high temperature clay mineral that is a common component of porphyry alteration systems. Smectite is also a clay mineral that results from hydrothermal alteration at lower temperatures.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/144457_d8a28644c4a49a95_001full.jpg
Figure 2: Total magnetic intensity inversion map at 1200m ASL with the copper / zinc ratio from the soil geochemistry results and the goethite / hematite ratio from the mapping.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/144457_d8a28644c4a49a95_002full.jpg
Qualified Person
The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com
Click here to sign up for Aurania news updates.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about: Aurania's objectives, goals or future plans, statements, exploration and drilling results, potential mineralization, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. 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. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania, a failure to comply with environmental regulations and a weakening of market and industry reliance on precious metals and copper. Aurania cautions the reader that the above list of risk factors is not exhaustive.
Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground - Including 5.50 metres of 7.58% Copper Equivalent
https://www.newswire.ca/news-releases/adventus-mining-and-salazar-announce-additional-drilling-results-for-el-domo-underground-including-5-50-metres-of-7-58-copper-equivalent-865242203.html
Adventus Mining Corporation Nov 15, 2022, 06:45 ET
TORONTO, Nov. 15, 2022 /CNW/ - Adventus Mining Corporation ("Adventus Mining") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF)
LUNDIN GOLD ANNOUNCES STRONG THIRD QUARTER RESULTS AND IS FIRMLY ON TRACK TO ACHIEVE HIGH END OF GOLD PRODUCTION GUIDANCE FOR 2022
https://www.newswire.ca/news-releases/lundin-gold-announces-strong-third-quarter-results-and-is-firmly-on-track-to-achieve-high-end-of-gold-production-guidance-for-2022-803070723.html
Lundin Gold Inc. Nov 08, 2022, 17:30 ET
Fruta del Norte achieves gold production of 355,190 oz and an AISC¹ of $785/oz sold in the first nine months of 2022
VANCOUVER, BC, Nov. 8, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF
Solaris Significantly Expands Warintza East Discovery
https://ca.finance.yahoo.com/news/solaris-significantly-expands-warintza-east-123000678.html
Solaris Resources
Mon, November 14, 2022 at 4:30 a.m.
Aurania Announces Update on Drill Program in Ecuador & Non-Brokered Private Placement
https://www.newsfilecorp.com/release/142418
Toronto, Ontario--(Newsfile Corp. - October 31, 2022) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement financing of up to 4,444,444 units of the Company (the "Units") at a price of C$0.45 per Unit for total gross proceeds to the Company of up to C$2,000,000 (the "Offering").
Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share (a "Warrant Share") at an exercise price of C$0.75 per Warrant Share for a period of 24 months following the closing of the Offering.
Update on Planned Drill Program
Detailed interpretation of the Anaconda method mapping at Aurania's Tatasham porphyry target in southeastern Ecuador is nearing completion and the first few drill holes are being defined for a drill program expected to commence in the latter half of November or early December 2022.
Chairman, President and Chief Executive Officer, Dr. Keith Barron commented, "Our water, environmental, community relations and technical teams are on track with the many tasks required ahead of this drill program. Tatasham is the Company's largest geophysical feature identified in the airborne magnetic survey that was conducted over the Project area in 2017. I have been wanting to drill Tatasham for quite some time and I suspect that once we start drilling here, we will begin to have a better understanding of what we may have at depth."
The net proceeds of the Offering will be used for drilling and exploration of the Company's Lost Cities-Cutucu Project in southeastern Ecuador and for general working capital.
Subscription Procedure
Existing shareholders and other investors interested in subscribing to the Offering should register their interest via email to ir@aurania.com.
Finders
Subject to the approval of the TSX Venture Exchange (the "TSXV"), the Company may pay finders' fees to certain eligible finders of up to 6% in cash of the gross proceeds raised in the Offering from subscribers introduced to the Company by such finders.
Closing
Closing of the Offering is anticipated to be completed on or about November 28, 2022, or such other date or dates that the Company may determine and may close in tranches. Closing is subject to the receipt of all necessary regulatory approvals including (but not limited to) the receipt of approval from the TSXV of the listing of the Common Shares and the Warrant Shares issuable upon the exercise of the Warrants. The Warrants are not eligible to be listed, and therefore will not be tradeable.
Hold Period
The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXV.
This new 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 Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements regarding the anticipated Offering, including the maximum size thereof, the expected timing to complete the Offering, the ability to complete the Offering on the terms provided herein or at all, the anticipated use of the net proceeds from the Offering, the receipt of all necessary approvals, including the approval of the TSXV of the listing of the Common Shares and the Warrant Shares (and the timing thereof), Aurania's objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the Company's teams being on track ahead of the drill program, drilling Tatasham, the commencement of the drill program and estimates of market conditions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. 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. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania, a failure to comply with environmental regulations and a weakening of market and industry reliance on precious metals and copper. Aurania cautions the reader that the above list of risk factors is not exhaustive.
Not for distribution to United States newswire services or for dissemination in the United States
LUNDIN GOLD ANNOUNCES THE COMPLETION OF THE SOUTH VENTILATION RAISE AT ITS FRUTA DEL NORTE GOLD MINE
https://www.newswire.ca/news-releases/lundin-gold-announces-the-completion-of-the-south-ventilation-raise-at-its-fruta-del-norte-gold-mine-841152698.html
Lundin Gold Inc. Oct 24, 2022, 17:00 ET
VANCOUVER, BC, Oct. 24, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) ("Lundin Gold" or the "Company") is pleased to announce that the South Ventilation Raise ("SVR") at its Fruta del Norte gold mine in southeast Ecuador is now complete and operational.
View PDF.
The SVR has been under construction over the past three years, during which time the project encountered delays due to COVID and various technical challenges. In mid-2021, Lundin Gold revised the work plan from a traditional 5.1 metre raise bore to a 2.1 metre diameter pilot raise followed by top-down slashing to 5.1 metres and concrete lining. The slash and line was completed in early-October and commissioning of the fans was achieved over the past couple of weeks. As a result of the completion of the SVR, ventilation in the mine will increase from 180 m3/s to 350 m3/s resulting in improved efficiencies and enabling mining activities on all levels.
Ron Hochstein, President and CEO, commented: "I am very happy to finally announce that the SVR is complete and operational. The SVR project has had its challenges, but the team has worked tirelessly to ensure that the delays did not impact operations. With the SVR now complete and commissioned, the entirety of the Fruta del Norte deposit can be accessed and mined, and haul truck cycle times can be improved."
About Lundin Gold
Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world.
The Company's board and management team have extensive expertise in mine operations and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact. The Company believes that the value created through the development of Fruta del Norte will benefit its shareholders, the Government and the citizens of Ecuador.
Additional Information
The information in this release is subject to the disclosure requirements of Lundin Gold under the EU Market Abuse Regulation. This information was publicly communicated on October 24, 2022 at 2:00 p.m. Pacific Time through the contact persons set out below.
Caution Regarding Forward-Looking Information and Statements
Certain of the information and statements in this press release are considered "forward-looking information" or "forward-looking statements" as those terms are defined under Canadian securities laws (collectively referred to as "forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. By their nature, forward-looking statements and information involve assumptions, inherent risks and uncertainties, many of which are difficult to predict, and are usually beyond the control of management, that could cause actual results to be materially different from those expressed by these forward-looking statements and information. Lundin Gold believes that the expectations reflected in this forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. This information speaks only as of the date of this press release, and the Company will not necessarily update this information, unless required to do so by securities laws.
This press release contains forward-looking information in a number of places, such as in statements relating to the expected benefits of increased ventilation in the Fruta del Norte gold mine. There can be no assurance that such statements will prove to be accurate, as Lundin Gold's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in Lundin Gold's Annual Information Form dated March 21, 2022, which is available at www.lundingold.com or on SEDAR.
Lundin Gold's actual results could differ materially from those anticipated. Factors that could cause actual results to differ materially from any forward-looking statement or that could have a material impact on the Company or the trading price of its shares include: risks associated with the Company's community relationships; risks related to political and economic instability in Ecuador; risks related to estimates of production, cash flows and costs; the impacts of a pandemic virus outbreak; risks inherent to mining operations; failure of the Company to maintain its obligations under its debt facilities; shortages of critical supplies; control of the Company's largest shareholders; risks related to Lundin Gold's compliance with environmental laws and liability for environmental contamination; the lack of availability of infrastructure; the Company's reliance on one mine; exploration and development risks; risks related to the Company's ability to obtain, maintain or renew regulatory approvals, permits and licenses; uncertainty with the tax regime in Ecuador; risks related to the Company's workforce and its labour relations; volatility in the price of gold; the reliance of the Company on its information systems and the risk of cyber-attacks on those systems; deficient or vulnerable title to concessions, easements and surface rights; inherent safety hazards and risk to the health and safety of the Company's employees and contractors; the imprecision of Mineral Reserve and Resource estimates; key talent recruitment and retention of key personnel; volatility in the market price of the Company's shares; measures to protect endangered species and critical habitats; social media and reputation; the cost of non-compliance and compliance costs; risks related to illegal mining; the adequacy of the Company's insurance; risks relating to the declaration of dividends; uncertainty as to reclamation and decommissioning; the ability of Lundin Gold to ensure compliance with anti-bribery and anti-corruption laws; the uncertainty regarding risks posed by climate change; limits of disclosure and internal controls; security risks to the Company, its assets and its personnel; the potential for litigation; and risks due to conflicts of interest.
SOURCE Lundin Gold Inc.
For further information: Ron F. Hochstein, President and CEO, Tel (Ecuador): +593 2-299-6400, Tel (Canada): +1-604-806-3589, ron.hochstein@lundingold.com; Finlay Heppenstall, Director, Investor Relations, Tel: +1 604 806 3089, finlay.heppenstall@lundingold.com
Sunstone Metals/Cornerstone Capital: More wide intersections over 1g/t AuEq for inclusion in maiden Resource set for December 2022
https://ca.finance.yahoo.com/news/more-wide-intersections-over-1g-120000161.html
Cornerstone Capital Resources Inc.
Thu, October 20, 2022 at 5:00 a.m.·8 min read
Initial drilling at two nearby targets indicates mineralization consistent with Brama porphyry systems
OTTAWA, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP; OTC:CTNXF; FWB:GWN1) is pleased to provide an update on its Bramaderos gold and copper joint venture in southern Ecuador in which it has a 12.5% interest carried by JV partner and project operator Sunstone Metals Ltd. (ASX: STM) through to the start of commercial production (see “About Bramaderos”, below).
Figures related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:
https://cornerstoneresources.com/site/assets/files/5870/nr22-23figures.pdf.
HIGHLIGHTS:
Strong assay results received from six drill holes at Alba and four holes from the eastern end of the Brama system; Alba and Brama form part of the Bramaderos Project
Broad zones of gold-copper mineralization have been intersected, including sub-zones of higher grade
Significant results include:
49.45m1 at 0.60g/t AuEq2 (0.37g/t gold and 0.13% copper), from 392m in BMDD035 (Brama)
32m at 1.20g/t AuEq (0.87g/t gold and 0.20% copper), from 386m in BMDD036 (Alba)
115m at 0.66g/t AuEq (0.41g/t gold and 0.15% copper), from 12m in BMDD039 (Alba), including
24.15m at 1.10g/t AuEq (0.46g/t gold and 0.38% copper), from 31.35m
69m at 0.61g/t AuEq (0.36g/t gold and 0.14% copper), from 21m in BMDD043 (Alba)
Drilling for the initial Mineral Resource Estimate has been completed but mineralization is open in several areas beyond the planned initial resource boundary
An Exploration Target will also be released in December to provide some guidance on opportunities to continue growing the scale of the Brama-Alba system
Exploration drilling has commenced at nearby porphyry targets Melonal, Sandia and Limon; The first hole has been completed at Melonal; Logging of the Sandia and Melonal holes indicate that they are altered and mineralized consistent with Brama porphyry type systems
FURTHER INFORMATION:
Sunstone and Cornerstone are pleased to announce more wide intersections with grades of plus-1g/t gold-equivalent which will further underpin the upcoming initial Mineral Resource Estimate (MRE) at their Brama-Alba porphyry discovery in southern Ecuador.
They are also pleased to announce the resumption of discovery drilling at three other porphyry targets within the Bramaderos concession (Figure 2) and report drilling at two of those targets has returned visible copper mineralization.
All holes reported in this release for Brama-Alba intersected wide zones of gold-copper mineralization (Figure 1, Table 1).
Sunstone Managing Director Malcolm Norris said:
“These results are more evidence of the substantial widths of mineralization which will form part of the initial MRE.
“The MRE, which we expect to deliver in December will be the first step to building a significant inventory of gold and copper at Bramaderos. An Exploration Target will be estimated alongside the MRE to guide further drilling to increase the resource base at Bramaderos in 2023.
“In addition, the drilling of new targets to deliver further discoveries with the potential to significantly increase the resource base is now underway.
“We have a lot to deliver at Bramaderos during the remainder of 2022”.
About Bramaderos
Measuring 4,948 hectares, the Bramaderos project is ideally located immediately adjacent to the Pan American highway, and close to available hydropower, supporting the economics of potential development opportunities. The project is supported by nearby commercial airports and significant cities (Loja) and enjoys strong community support.
The Bramaderos concession is owned by La Plata Minerales S.A. (“PLAMIN”), which in turn is owned 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone.
Cornerstone’s 12.5% interest is carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone’s share of earnings or dividends from the Bramaderos project (see news release 20-01 dated January 7, 2020).
More information about the property can be found at www.cornerstoneresources.com.
Qualified Person
Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.
Sampling and Assaying
Surface and drill core samples from Brama were sent to the LAC y Asociados Cia. Ltda. Sample Preparation Facility in Cuenca, Ecuador for sample preparation. The standard sample preparation for drill core samples (Code PRP-910) is: Drying the sample, crushing to size fraction 70% <2mm and splitting the sample to a 1000g portion by riffle or Boyd rotary splitter. The 1000g sample is then pulverised to >85% passing 75 microns and then sent to the MSALABS in Langley, BC, Canada for gold and base metal analysis.
PLAMIN uses a fire assay gold technique for Au assays (FAS-111) and a four acid multi element technique (IMS-230) for a suite of 48 elements. FAS-111 involves Au by Fire Assay on a 30-gram aliquot, fusion and atomic absorption spectroscopy (AAS) at trace levels. IMS-230 is considered a near total 4 acid technique using a 0.25g aliquot followed by multi-element analysis by ICP-AES/MS at ultra-trace levels. This analysis technique is considered suitable for this style of mineralization.
Standards, blanks and duplicates are inserted ~1/28 samples. The values of the standards range from low to high grade and are considered appropriate to monitor performance of values near cut-off and near the mean grade of the deposit. The check sampling results are monitored and performance issues are communicated to the laboratory if necessary.
Sample security was managed through sealed individual samples and sealed bags of multiple samples for secure delivery to the laboratory by permanent staff of the joint venture. MSALABS is an internationally accredited laboratory that has all its internal procedures heavily scrutinized in order to maintain their accreditation. MSALABS is accredited to ISO/IEC 17025-2017 Accredited Methods and certified to ISO 9001-2015.
PLAMIN’s sampling techniques and data have been audited multiple times by independent mining consultants during various project assessments. These audits have concluded that the sampling techniques and data management are to industry standards. All historical data has been validated to the best degree possible and migrated into a database.
Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2015 certified sample preparation facility in Cuenca, Ecuador.
Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MSALABS, an ISO/IEC 17025-2017 Accredited Method company and ISO 9001-2015 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111). Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).
Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757); a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).
Quality Assurance / Quality Control (QA/QC)
MSALABS is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador.
Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:
Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333
Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp
Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of anti-mining sentiment in certain regions of Ecuador, or of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Brooke Macdonald
President and CEO
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.
1 True widths of drill intercepts cannot be accurately estimated at this time. Sunstone is working on a geological model following which they expect to be able to estimate true widths.
2 The gold equivalent calculation formula is AuEq(g/t) = Au(g/t) + Cu% x 1.7. The prices used were US$1,770/oz gold and US$9,750/t copper, and A$:US$0.70. Recoveries are estimated at 89% for gold and 86% for copper from metallurgical studies. In Sunstone’s opinion all the elements included in the metal equivalents calculation have reasonable potential to be recovered and sold.
New Data Increases Exploration Potential of Aurania's Mineral Systems in Ecuador
https://www.newsfilecorp.com/release/140759
Toronto, Ontario--(Newsfile Corp. - October 17, 2022) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to announce that positive findings of careful relogging of drill core together with the integration of geophysics and geochemistry from its Tiria-Shimpia target in Aurania's Lost Cities-Cutucu project in southeastern Ecuador (the "Project"), has revealed the presence of a chain of three structural grabens occupying the middle of the concession block. Grabens are extremely important in mineral exploration because their bounding faults are often through-going conduits for hydrothermal fluids, and they have very high potential to be mineralized. This underlying work is integral to advancing ongoing joint venture discussions while the Company begins preparations for a drill program at its Tatasham and Awacha porphyry targets expected to commence later in 2022. Both programs remain in line with Aurania's corporate strategy discussed in February 2022.
Professor Gregor Borg, a recognized international expert on sediment-hosted copper deposits commented on the review/reinterpretation of Aurania's geological data, "The reassembly and reinterpretation of available data makes a totally new and very exciting story!"
The north graben is 10 kilometres long and 3.5 kilometres wide, the central graben is 26 kilometres long and 3 kilometres wide; and the south graben is 18 kilometres long and 5 kilometres wide.
Structural grabens, also known as pull-aparts or drop-downs, are areas where younger rocks have been faulted downwards vertically, between older rocks by opposing horizontal forces. It can be thought of as if the rocks have been stretched horizontally in opposite directions to breaking point, and then have subsided downward along vertical bounding cracks (faults). Grabens can be recognized in the field when the rocks abruptly appear out of age sequence. Lundin Gold's Fruta del Norte gold deposit, approximately 100 kilometres south of the Project, lies in a structural graben as does Aurania board member Thomas Ullrich's recent high-grade copper discovery at the Storm deposit of Aston Bay in northern Canada. A number of mineralizing patterns have now come into focus, which will be explained below, and Management considers that the prospectivity of its sediment-hosted targets within the Project has been very considerably enhanced. The process of review by Aurania's technical team and consultants is ongoing.
Dr. Cristian Vallejo, Aurania's Consultant Geological Expert on the Cutucu area, has relogged the Tiria-Shimpia and Tsenken drillcore, placing it in the correct geological context. It was found that a contracted paleontologist had incorrectly dated several index fossils and that Tiria-Shimpia sits in rocks that are 90 million years younger than previously believed. Dr. Vallejo convincingly correlated the drilling with oil well DRA-29 outside the Project, and also dissolved representative pieces of Tiria-Shimpia core in acid for palynology (dating of fossil pollen). The results definitively place the four Tiria-Shimpia holes in the Hollin and Napo Formations, which are understood to the primary reservoir rocks for oil in Ecuador. In fact, impregnations of petroleum were found at depths of 345.8 metres ("m") to 357 m in Hole #2 in Shimpia. While Management of Aurania does not consider there to be any potential for economic petroleum in the concessions, the importance of this finding in the context of sediment-hosted base metal deposits cannot be overemphasized. Crude petroleum, bitumen and natural gas have all been implicated as precipitation agents in the formation of sediment-hosted copper deposits, and lead-zinc-silver deposits. The two styles of mineralization are sometimes found in proximity but are separated horizontally or vertically due to precipitation kinetics.
Over the last several years, Aurania has located numerous high-grade copper/silver showings across the Project (see press releases dated August 6, 2020, July 30, 2020, April 9, 2019, April 2, 2019, and October 4, 2018), but the proper understanding of the ore-deposits framework still eluded us to some extent. We now know that the lower part of much of the concession area is occupied by Jurassic-aged Chapiza redbed sediments that contain salt and that are over a kilometre in thickness. To date, salt has been intersected in three drill holes in Tsenken and anhydrite evaporites were found in two other holes. The copper/silver mineralization sits within laterally impersistent and thin beds of carbonaceous trash in the upper Chapiza, stratigraphically above the salt beds, where plant debris and other organics have acted as chemical reductants, precipitating copper and silver from circulating saline brine. The scenario is not unlike the Kupferschiefer of eastern Germany and Poland, but by themselves our thin beds are volumetrically too minor to represent orebodies and are not exploration targets.
One exploration target however does leap out as exceptional and will be discussed presently. The Chapiza redbeds would equate with the Rotliegendes (in German, the "underlying red") directly beneath the Kupferschiefer, an organic-rich "copper shale" which hosts the economic orebodies in Poland. We believed formerly that our carbonaceous beds were a direct analogue to the Kupferschiefer unit, and indeed in some ways they are, but a much better exploration target is proffered by the Hollin Formation higher in stratigraphy, which is both thick and bituminous with good porosity. These rocks were formerly not thought to be in the central graben, but the recent study made by Cristian Vallejo has identified the Upper Hollin formation ("Fm") in hole #1 and #2 below the Napo Fm. Hollin also subcrops within the southern graben, in an area where there is a large MobileMT ("MMT") conductive anomaly that was heretofore considered to be spurious.
The geological model for sediment-hosted copper deposits is predicated on a source accumulation of oxidized sediments in a basin that has occasionally evaporated to dryness, leaving behind salt beds. The theory is that minute amounts of copper in oxidized minerals become labile and can be stripped and then mobilized in brine as copper chloride. Heated brine would typically travel upwards through the rock column along faults and where it encountered organics, pyrite, or some other precipitation agent would drop the copper out of solution to form copper sulphides such as chalcocite. Professor Borg has previously commented that the presence of coeval porphyry copper deposits in the Chapiza means that the basin is "Turbocharged" with a "Double whammy", or twice as much fertile copper potential as a normal scenario. Watch the video with Prof. Borg here: http://www.aurania.com/the-opportunity-a-copper-experts-opinion. The same model components are present in the Kupferschiefer and Aston Bay's new Storm deposit but without copper porphyry.
Figure 1: From Vallejo et al. 2021. The central panel pertains to the Cutucu and provides stratigraphic context to this press release. The host rocks to Zn-Pb-Ag at Tiria-Shimpia are in the middle Napo Shale of the central panel. Previously they were believed to be in the Santiago Fm, at the very bottom of the stratigraphic column in the lower Jurassic. The copper source rocks and salt are in the Late Jurassic Chapiza Fm.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_001full.jpg
Figure 2: Interpreted geology. The sense of throw on the faults is still to be entirely defined. Most of the field of view is occupied by the NNW Central Graben containing Napo and Hollin Fm. The Southern Graben contains Napo, Hollin and Chapiza in a synclinal structure.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_002full.jpg
Figure 3: The magnetic airborne survey reduced to pole, first vertical derivative. The Central Graben is in the centre of view and silver occurrences are along the boundary faults as well as internal longitudinal faults. A second cluster of silver values is in the Southern Graben block and are related to a different style of mineralization (Cu-Ag).
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_003full.jpg
Figure 4: The distribution of copper and zinc in soils, within surveyed and sampled areas. Note that the distribution of Zn in the Central Graben mimics the distribution of Ag in outcrop from Figure 3. Cu has a wider distribution and is concentrated in Tsenken in the Southern Graben where it occurs close to copper-in-sediment occurrences but is also anomalous in other areas. These other areas are flows and subvolcanic intrusives of basalt to andesite within the Chapiza Fm. Drilling has shown them to be partially to completely oxidized, and coeval with the redbed sediments. They have high intrinsic backgrounds in Cu and Co and are considered an excellent protolith for mobilization into stratigraphically higher sediments.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_004full.jpg
Figure 5: Soil results for uranium.
To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_005full.jpg
Figure 6: Soil results for chromium.
To view an enhanced version of Figure 6, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_006full.jpg
Figures 5 and 6 are blow ups of the South Graben area. Figure 5 has the distribution of uranium in soils superimposed and 6, chromium in soils superimposed. The folded calc-alkaline basalt and andesite flow is outlined by Cr contents in Figure 6 (due to mafic character) and is clearly seen in Figure 5, which is free of anomalous U values over the flow. The saddle-shaped folding of the flow is clearly duplicated up-section by anomalous uranium, highly suggesting there is a stratiform accumulation of uranium in sediments. The picture for copper in Figure 4 is less clear but potentially covariant with uranium. Copper and uranium are often found together in sediment-hosted deposits e.g., Zambia Copperbelt. There is no MMT conductor in this area and potentially the sediments are shallow enough that sulphide has been weathered to carbonates and oxides. This is considered a very good drill target for the future.
Figure 7: MMT image over the Tsenken target area (South Graben). The hot colours are the conductors. Note that the salt occurrences along the graben boundary faults are extremely strong conductors. Salt itself is an insulator but with addition of water becomes strongly conductive. The brine springs used by the Shuar to produce salt are in the same area The circa 3 x 5 km conductivity anomaly on the west side of Tsenken remains unexplained and undrilled. Because it has depth extent it is thought to be a porphyry body which is buried within the Chapiza. It is a high priority target. The labelled conductor "copper target" mimics the saddle shape of the syncline lower in stratigraphy, and is composed of lower Hollin Fm. This is a 3.5 x 3 km target and appears to be stratiform and potentially stratabound. It is considered the highest priority copper-in-sediment target in this new interpretation.
To view an enhanced version of Figure 7, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_007full.jpg
Figure 8: A stratigraphic column modified from Vallejo, 2022. It shows diagrammatically the presence of organic carbon plotted against the stratigraphy of the rocks in the Cutucu. As can be seen, the layers with carbon in the Chapiza Fm are quite thin. Near the bottom of the Hollin Fm the carbon level picks up dramatically. As a working hypothesis we believe that some mobilized copper is deposited by fluids when they encounter carbonaceous layers in the Chapiza Fm, and we see abundant evidence of that in outcrop. We believe though that the majority of the copper will continue to migrate up-section until it comes in contact with the major carbon bearing units of the lower Hollin Fm. These units do not outcrop and Tiria-Shimpia hole #2 was too shallow to test this hypothesis. After dumping the copper, the fluids continued to move up-section into the Napo Fm where they deposited the zinc-lead-silver. MMT coverage over the Tiria-Shimpia area is limited, but deep conductors along the boundary faults and below the zinc-lead-silver if found, would reinforce this hypothesis.
To view an enhanced version of Figure 8, please visit:
https://images.newsfilecorp.com/files/2477/140759_836386a1349a89b6_008full.jpg
Unusually, there is enough potassium (potash) component in the salt to both make it deep orange in colour, and mildly radioactive. Fault traces where salt is present are both radiometric K-channel anomalies and strong conductors. The zinc-lead-silver mineralization at Tiria-Shimpia also shows up as K-channel radiometric anomalies, and this is potentially due to the presence of large amounts of celestite, a strontium mineral that can contain moderate amounts of potassium. There are a large number of these radiometric targets along boundary faults that do not outcrop and have yet to be drilled. The integration of radiometric, magnetometer and magneto-telluric surveys is not fully completed and will with high probability yield more targets.
Qualified Person
The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc, VP Exploration. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.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
This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania's future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania's objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation's portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania's public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Luminex Intercepts 5.0 Metres of 30.5 g/t Au Eq in the New Ruiz Structure at Condor North
https://www.newswire.ca/news-releases/luminex-intercepts-5-0-metres-of-30-5-g-t-au-eq-in-the-new-ruiz-structure-at-condor-north-879461604.html
Luminex Resources Corp. Oct 12, 2022, 07:00 ET
VANCOUVER, BC, Oct. 12, 2022 /CNW/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF)
Adventus Mining and Salazar Announce First Batch of Drilling Results for El Domo Underground - Including 6.91 metres of 6.17% Copper Equivalent
https://www.newswire.ca/news-releases/adventus-mining-and-salazar-announce-first-batch-of-drilling-results-for-el-domo-underground-including-6-91-metres-of-6-17-copper-equivalent-804454827.html
Mon, October 17, 2022 at 3:45 a.m.·22 min read
TORONTO, Oct. 17, 2022 /CNW/ - Adventus Mining Corporation ("Adventus Mining") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF)
Solaris Outlines Broad Porphyry Deposit in First Follow-Up Holes at Warintza West Discovery
https://ca.finance.yahoo.com/news/solaris-outlines-broad-porphyry-deposit-110000285.html
Solaris Resources
Thu, October 13, 2022 at 4:00 a.m
LUNDIN GOLD ANNOUNCES ANOTHER STRONG QUARTER WITH PRODUCTION OF 121,635 OUNCES OF GOLD
https://www.newswire.ca/news-releases/lundin-gold-announces-another-strong-quarter-with-production-of-121-635-ounces-of-gold-880356432.html
Lundin Gold Inc. Oct 05, 2022, 18:00 ET
VANCOUVER, BC, Oct. 5, 2022 /CNW/ - Lundin Gold Inc. (TSX: LUG) (Nasdaq Stockholm: LUG) (OTCQX: LUGDF)
SolGold & Cornerstone Announce Friendly Merger
https://www.accesswire.com/719446/SolGold-Cornerstone-Announce-Friendly-Merger
Friday, October 7, 2022 2:25 AM
SolGold & Cornerstone Announce Friendly Merger Transaction
Consolidates 100% of the Cascabel Project
Strategic Review Process Initiated for Combined Group
BRISBANE, AUSTRALIA / OTTAWA, ON / ACCESSWIRE / October 7, 2022 / SolGold plc (LSE:SOLG)(TSX:SOLG) ("SolGold") and Cornerstone Capital Resources Inc. (TSXV:CGP; OTC:CTNXF; FWB:GWN1) ("Cornerstone") (together the "Parties" and individually, a "Party") are pleased to announce that they have entered into a definitive agreement (the "Agreement") whereby SolGold will acquire all of the issued and outstanding shares of Cornerstone ("Cornerstone Shares"), other than Cornerstone Shares already held, directly or indirectly, by SolGold, pursuant to a court-approved plan of arrangement (the "Transaction").
Under the terms of the Agreement, Cornerstone Shares will be exchanged for 15 SolGold ordinary shares ("SolGold Shares") for each Cornerstone common share held. Pursuant to the terms of the Agreement, SolGold may elect to pay up to 20% of the consideration in cash, in which case the cash would be pro rated among all Cornerstone shareholders and the number of SolGold Shares issuable to Cornerstone shareholders would be reduced. Upon completion of the Transaction, if SolGold elects not to pay any portion of the consideration in cash, existing SolGold and Cornerstone shareholders are expected to own approximately 80% and 20% of the combined entity (the "Combined Group"), respectively, on a fully diluted in-the-money basis which is consistent with the current effective exposure of approximately 80/20 to the Cascabel Project prior to the Transaction.
The merger of Cornerstone and SolGold will significantly strengthen the ability of the Combined Group to create value for shareholders by consolidating ownership of the Cascabel Project along with a robust portfolio of other projects primarily across Ecuador.
Darryl Cuzzubbo, CEO and Managing Director of SolGold, stated: "It has been my view from the start that SolGold and Cornerstone are more valuable together than apart. This is an exciting value enhancing transaction for all stakeholders. This Transaction also sets the stage for a strategic review of the Combined Group as we methodically assess options that are in the best interest of our shareholders."
Brooke Macdonald, President and CEO of Cornerstone, stated: "This merger transaction makes sense for both sets of shareholders. The merger allows our shareholders to maintain exposure to the world class Cascabel Project and is a step towards maximizing value. Having considered the landscape, we are convinced that combining forces with SolGold will unlock significant value for all shareholders. The strategic review for the combined group aligns with our views on the best path forward. Today represents a significant milestone for all Cornerstone stakeholders and I would like to thank them for their support over the years."
The PDF of the release is available through this link: http://www.rns-pdf.londonstockexchange.com/rns/1476C_1-2022-10-7.pdf
Transaction Summary
The proposed Transaction will be completed pursuant to a court-approved plan of arrangement under the Business Corporations Act (Alberta). The Transaction will require approval by two-thirds of the votes cast by the shareholders of Cornerstone and a majority of the votes cast by disinterested shareholders at a special meeting of Cornerstone shareholders expected to be held in the fourth quarter of 2022.
All Cornerstone directors, executive officers and certain shareholders, collectively representing 44.1% of the Cornerstone Shares (47.0% on a fully diluted basis) have entered into voting support agreements with SolGold, agreeing to, among other things, vote their Cornerstone Shares in favour of the Transaction. The Transaction is subject to obtaining customary approvals including applicable court and stock exchange approvals. The Agreement includes customary deal protection provisions in favour of SolGold.
In addition, the Parties have agreed to make any amendments to the Agreement or plan of arrangement if necessary or desirable in order to implement an exchangeable share structure to allow eligible Canadian Cornerstone shareholders to receive a tax-deferred roll-over under the Income Tax Act (Canada) to the extent that the non-share consideration received does not exceed the shareholder's cost base for Canadian tax purposes. The implementation of such amendments will not be a condition of closing of the Transaction and there is no assurance that such a structure will be implemented.
Upon closing of the Transaction, the SolGold board of directors will be comprised of up to ten individuals with Cornerstone entitled to nominate two directors.
Full details of the Transaction and the Agreement will be included in Cornerstone's management information circular which is expected to be filed with the regulatory authorities in Canada and mailed to shareholders of Cornerstone in the fourth quarter of 2022. Further, SolGold intends on filing a prospectus with the applicable regulatory authorities in the UK with respect to the shares to be distributed to Cornerstone shareholders pursuant to the Transaction, which is expected to be filed in the fourth quarter of 2022.
Pursuant to the Agreement, SolGold is pursuing a strategic review process with the goal of maximizing value for all shareholders (the "Strategic Review Process"). Accordingly, SolGold has appointed Citigroup Global Markets Inc. ("Citi") and Maxit Capital LP ("Maxit Capital") to act as financial advisors to assist with exploring value creating alternatives for the Combined Group. The Strategic Review Process may include, but shall not be limited to, evaluating and pursuing the following:
· evaluating financing alternatives for the Combined Group;
· a spin-out of assets, other than the Cascabel Project, to all shareholders of the Combined Group;
· the direct or indirect acquisition of an interest in ENSA and/or the Cascabel Project howsoever effected; or
· any other transaction or series of related transactions as may be agreed to between the Parties.
The completion of the Transaction is not contingent on the completion of the Strategic Review Process and there can be no assurance that the Strategic Review Process will lead to any transaction.
Board of Directors' Recommendation
The Transaction has been unanimously approved by the boards of directors of SolGold and Cornerstone including, in the case of Cornerstone, following the unanimous recommendation of a special committee of independent directors. The Cornerstone board of directors unanimously recommends that Cornerstone shareholders vote in favour of the Transaction.
Paradigm Capital Inc. ("Paradigm Capital"), financial advisor to Cornerstone, has provided a verbal opinion to the Cornerstone board of directors stating that, and based upon and subject to the assumptions, limitations, and qualifications set forth therein, the consideration to be received pursuant to the Transaction is fair, from a financial point of view, to the Cornerstone shareholders (other than SolGold).
Advisors
Citi is acting as financial advisor to SolGold and Bennett Jones LLP is acting as its legal advisor in connection with the Transaction.
Paradigm Capital and Maxit Capital are acting as financial advisors to Cornerstone and Davies Ward Phillips & Vineberg LLP is acting as its legal advisor in connection with the Transaction.
Investor Presentation
SolGold CEO and Managing Director Darryl Cuzzubbo and Interim Group Chief Financial Officer Keith Pollocks will host a live presentation on Wednesday, 12 October at 1:00pm (London time), 8:00am (Toronto time), 10:00pm (Brisbane time). Investors can register to view the live presentation at: https://www.investormeetcompany.com/solgold-plc/register-investor.
About SolGold
SolGold is a leading resources company focused on the discovery, definition and development of world-class copper and gold deposits and continues to strive to deliver objectives efficiently and in the interests of shareholders. SolGold is exploring the length and breadth of this highly prospective and gold-rich section of the Andean Copper Belt which is currently responsible for ~40% of global mined copper production.
SolGold operates with transparency and in accordance with international best practices. SolGold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including a direct & indirect interest in the Cascabel gold-enriched copper porphyry in northwest Ecuador.
For further information, please contact:
SolGold
Fawzi Hanano (Head of Investor Relations)
investors@solgold.com.au
Rufus Gandhi (Company Secretary)
+61 (0) 7 3303 0660
Tavistock (SolGold Media)
Jos Simson / Gareth Tredway
+44 (0) 20 7920 3150
Cornerstone
Brooke Macdonald (CEO)
ir@cornerstoneresources.ca
Certain information contained in this announcement would have been deemed inside information.
Cautionary Note - Forward Looking Statements
News releases, presentations and public commentary made by the Parties and their respective officers may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, among other things, to: expectations for the Combined Group; the possible payment of up to 20% of the consideration in cash; the proportionate ownership of SolGold and Cornerstone shareholders of the Combined Group following completion of the Transaction; the anticipated timing of the Cornerstone shareholders meeting, the filing of meeting materials, the mailing of meeting materials to Cornerstone shareholders, the filing of the SolGold prospectus and the closing of the Transaction; the timing and anticipated receipt of required approvals and the ability of SolGold and Cornerstone to satisfy the other conditions to, and to complete, the Transaction; the potential amendments to the Agreement and the plan of arrangement; the anticipated benefits of the Transaction; and the timing, structure, results and benefits of the Strategic Review Process. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Parties that could cause the actual performance or achievements of the Parties to be materially different from such interpretations and forward-looking statements.
Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the stock exchange rules of the Toronto Stock Exchange, TSX Venture Exchange and London Stock Exchange or by applicable securities laws, the Parties do not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements.
This release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, forward looking statements related to the items discussed above. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Parties to be materially different from those expressed or implied by such forward-looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Parties have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Parties to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Parties to retain their key management employees and skilled and experienced personnel; and those risks set out in the Parties' public documents filed on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Parties do not undertake to update any forward-looking information, except as required by the stock exchange rules of the Toronto Stock Exchange, TSX Venture Exchange and London Stock Exchange or in accordance with applicable securities laws.
The parties and their respective officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis, and where possible aims to circulate all available material on their respective websites.
Neither the Toronto Stock Exchange, TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy of this release.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: SolGold PLC
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