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"...SABRE GOLD ANNOUNCES PRELIMINARY ECONOMIC ASSESSMENT FOR THE COPPERSTONE MINE
June 20, 2023 PDF Version
Vancouver, June 20, 2023 – Sabre Gold Mines Corp. (TSX: SGLD, OTCQB: SGLDF) (“Sabre Gold” or the “Company”) is pleased to announce it has completed a Preliminary Economic Assessment (“PEA”) on the 100% owned Copperstone Mine (“Copperstone” or “Project”) in Arizona, USA. The study has resulted in robust post-tax economics which, due to pre-existing infrastructure on surface and underground, result in both low initial capital and an overall low capital intensity ratio on a per ounce basis. The project benefits from its significant tax assets and recently reduced royalty encumbrance while also having potential for resource expansion and further exploration success.
The Preliminary Economic Assessment supports a high-grade gold underground mining operation at Copperstone producing an average of 40,765 payable oz gold per year for just over a 5-and-a-half-year mine life. Sabre Gold management worked with Hard Rock Consulting, LLC (“HRC”) to complete the PEA, which included comprehensive reviews of the construction, operations and costs, to provide confidence for potential project commencement and completion within budget and schedule. Trade off studies will continue on initial capital items and initial earthworks will commence as soon as the Company moves towards a formal construction decision. The Company will also continue to have discussions with potential providers of initial construction capital.
In accordance with National Instrument 43-101, the Company has engaged HRC to complete a technical report in support of the PEA, which will be filed on SEDAR within 45 days of this news release. The Company notes that mineral resources are not mineral reserves as they do not have demonstrated economic viability. The Company notes that a preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic consideration applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
The PEA base case assumes a gold price of $1,800 per oz and the PEA also presents project sensitivities using a range of spot gold prices between $1,600 to $2,000 per oz. All currency references herein are in US$.
Highlights from the Preliminary Economic Assessment
Consistent Production – Models an underground mine operation that will process 198,000 tonnes of ore at 544 tonnes per day (“tpd”) over the 5.6-year mine life (“LOM”). Excellent Payback Period – The mine plan sequences the high-grade portions of the resource in early years to optimize grade and cash flow resulting in a payback period of less than 2 years and generating nearly $90m in after-tax cumulative undiscounted cash flow. Low Initial Capital – Significant site infrastructure, such as pre-existing tailings and processing facilities, surface buildings and rehabilitated underground development allow for reduced upfront construction cost and low initial capital per payable gold ounce produced over the LOM. Fully Licensed and Permitted – Permits are in place for initial construction and subsequent operation of the project as well as the necessary water and surface rights. Minor modifications required for the revised mine plan and flow sheet as a result of the PEA will be addressed as required in the coming months by the Company...."
Sabre Gold GM Talks About Preparations to ReOpen Copperstone GOLD Mine in Arizona
"... VP General Manager Sid Tolbert recently spoke to Global Stocks News’ CEO Guy Bennett about SGLD’s plans to re-start the Copperstone Gold Mine in Arizona...."
".... Sabre Gold holds 100% interest in two near-term North American gold producers: the fully permitted Copperstone gold mine located in Arizona, USA, and the Brewery Creek gold mine located in Yukon, Canada, both of which are former producers.
Management intends to restart production at Copperstone followed by Brewery Creek in the near term.
In the following video, VP General Manager Sid Tolbert talks with GSN’s Guy Bennett about current operations at the Copperstone Gold Project in Arizona...."
Sid Tolbert, this was an informative and a revealing interview and as an investor in Sabre Gold Mines; I'm pleased to learn that contract miners will be working on the mine for the foreseeable future.... for obvious reasons that you clearly stated. Bravo!
"... Giulio T. Bonifacio, President and Chief Executive Officer of Sabre Gold, stated: "Sabre Gold continues to make significant progress at Copperstone in preparation of startup with progression to full production in the near term which now only remains subject to project funding. Definition drilling and results to date are continuing to show very good grade and continuity while adding further confidence to our updated geological model and our detailed mine plan. Estimated project capital for the restart of Copperstone remains in line with previous estimates as we continue to advance discussions with project lenders as well as other key stakeholders with an update on project funding to be provided in Q2-2022"
In addition to the recently completed definition drilling at Copperstone, significant progress has been made with detailed mine planning, process engineering and mine-rehabilitation. These efforts are a continuation of earlier work completed to prepare the fully permitted mine for start-up and progression to full production.
A comprehensive detailed mine plan and production schedule was completed by Mine Development Associates in Reno, Nevada that defines stopes and production areas for the initial five years of mine-life. In addition, all capital and operating expenses were reviewed by way of further detailed engineering and have been incorporated into an updated discounted cashflow model. The mine plan indicates annual production of approximately 40,000 to 45,000 ounces per annum while demonstrating favorable economics which includes future expected conversion of additional resources based on the open extent nature of both the Copperstone and Footwall zones.
Due to limitations of underground development, drilling platforms and the geometry of the gold bearing shear zones Sabre intends to drill several years in advance as it advances underground development ahead of the underground mining areas. Years 5 to 13 are scheduled to produce from areas that currently have inferred resources and yet un-delineated extensions of the existing resources. The cash flow model includes the required excavation of drill platforms as operational headings advance and the associated drilling required to identify, confirm and define mineable areas. Updated capital and operating expenses were reviewed and incorporated into a discounted cashflow model.
Further engineering and refinement were completed on the processing facility that will incorporate a Whole Ore Leach process followed by Merrill-Crowe recovery and onsite refining. Plant lay-out and flowsheets with associated capital and operating cost estimates were completed. Engineering is estimated at 60% completion with flowsheets and plant lay-out complete. Concurrently, metallurgical testing is in final stages, indicating excellent gold recovery. Final metallurgical tests will provide data to confirm the equipment sizing and operating costs.
Mine rehabilitation continued with significant progress made in the majority of areas that will be mined in the first several years of mine life. Small Mines Development have been engaged and are nearing completion of 1,674 linear feet of rehabilitation that included robust ground support and enhancement of mine dewatering systems. The rehabilitation completes a series of efforts to ensure safety standards and readiness for full scale mining production.
The technical information in this news release has been reviewed and approved by Michael Maslowski, CPG, a qualified person as defined by National Instrument 43-101 and is employed by the company as its Vice President, Technical Services & Exploration...." https://www.stockwatch.com/News/Item/Z-C!SGLD-3210987/C/SGLD
Expecting KATX type run from CATA.. CEO is honey hole hunting in Indonesia.. Has had people on the ground over there for quite some time checking out gold properties..
Canyon Copper Corp (CNYC.OB) 1199 West Pender St., Suite 408 Vancouver, BC V6E 2R1 Phone: 604.331.9326 / 888.331.9326 Fax: 604.684.9365 URL: www.canyoncc.com Email: info@canyoncc.com IR: Robert Meister, Phone: 1.888.331.9326 x-231 / 1.604.331.9326 x-231 / info@cayoncc.com
A resource exploration company with a well-advanced copper (both Oxide and Sulphide) and Molybdenum project. The Property lies within the famous Walker Lane Structural Belt of western Nevada, in Mineral County, Nevada, near the town of Luning. Canyon Copper holds a 100% interest in over 1,300 plus mineral claims (21 patented claims and 1,332 unpatented claims) representing approximately 27,000 acres.]
Immediate Corporate Objectives: -- Develop a bulk tonnage Copper and Molybendum property in a 5km x 3 km mineralized belt. -- Aggressive drill program to expand current NI 43-101 resource. -- Acquisition of neighboring properties with significant resources. -- Aim to establish a 2 billion lb. copper / molybdenum/gold resource and become a near-term producer.
AWAITING: 1. Marketing campaign targeting brokerage houses in Canada. 2. 3-5 drill units on site. 3. Hiring of new geologist for site management. 4. Property reassessment of core samples for value. Revise Longshot Ridge resource estimate incorporating re-assayed values of 2006 drill & systematic road cut samples. 5. Apply for permit to dril on & around Longshot Ridge & adjacent copper oxide targets. 5. Apply for permits to drill Copper Queen & Champion target areas. 5. Assess potentials of copper oxide systems similar to the Longshot Ridge at the nearby Power Line & Buffington mine workings. 5. Initiate further work on metallurgical testing & environmental base line studies for Longshot Ridge deposit. 5. Pre-feasibility study. 6. Feasibility study. 7. Production (not restricted by season changes). 8. US uplisting to AMEX. 9. Acquisition of neighboring properties w/ significant resources around existing site in near future.
____Location of CNYC Project Area in Nevada____________Map of CNYC Claims: 1,353 mineral claims, 27,000+ acres
Identification 3 Primary Mining Zones: 1,353 mineral claims, 27,000+ acres
1. COPPER QUEEN – on the west. Has no exposed mineralization at surface, but contains Cu sulfide skarn at depth and an incompletely confirmed Cu-molybdenum sulphide porphyry system at greater depth.
2. CHAMPION – in the center. Numerous widespread exposures of copper skarn mineralization, both in surface outcrop and abundant old mine workings.
Picture of Copper Queen and Champion Mineralized Zones
3. LONGSHOT RIDGE – on the east.
Numerous widespread exposures of copper skarn mineralization, both in surface outcrop and abundant old mine workings. Majority of recent exploration efforts have been focused on extensive oxide Cu skarn mineralization at this location. Formation: The Cu mineralization and associated alternation here at Longshot are projects of an extensive Cu-rich skarn system formed in carbonaceous sediments of the Luning, Gabbs and Sunrise Formations. Small amounts of Cu occur also in stockwork veinlets in felsic porphyry intrusive sills and dikes. The Cu mineralization consists almost entirely of secondary copper minerals, principally malachite, axurite, chrysocalla, and copper wad, in order of abundance. Additionally, some Cu-rich limonite (goethite) has been reported.
Deposit centralization: About 90% of the Longshot mineralization is within the 2 upper units of the Gabbs Formation. Drilling reveals that the strongest, thickest, and most continuous mineralization occurs in a NE-trending zone, 200’ W x 1300’ L, which is crossed by 2 NW-trending structurally-controlled high-grade zones, each about 100’ W and from 400-700’ L.
3-D Video of Cu Occurrence at Longshot Ridge – IMPRESSIVE -- http://www.canyoncc.com/s/NYCLongshot.asp?ReportID=439242
2004 Drilling Results, Longshot Ridge -- Completed 2 diamond drill holes on Longshot: Drill hole 04-01 intersected 193’ of 0.547% Cu (from 20’ – 213’) including 50’ of 0.827% Cu (from 80’ – 130’). This hole ended in strong Cu mineralization. -- Drill hole 04-03 was a vertical hole drilled to a depth of 43’. While drilling the hole, it was recognized that previousl drill holes in the vicinity had encountered significant mineralization at the contact of the overlying oxidized Gabbs Formation and the underlying Luning Formation, and this hole was extended to test this target. This drill hole (04-03) intersected 370’ of 0.314% Cu (from 25’ – 395’) including 140’ of 0.549% Cu (25’ – 1.65’.) and 35’ of 0.709% Cu (70’ – 105’).
Picture of Longshot Ridge drilling hole 04-03 and Copper Oxide Cores
Picture of Longshot Ridge
Site Picture
Site Picture – Core Drilling
PRINCIPALS:
Anthony R. Harvey, CEO, COB Member of Advisory Board, Audit Committee and Disclosure Committee
Benjamin Ainsworth, President, Secretary, Director Member of Disclosure Committee
Kurt Bordian, CFO, Treasurer Member of Disclosure Committee
James Yates, Director Over 25 years experience in mineral exploration and has served as director and officer of several public mining companies, such as ESO Uranium (TSX-V: ESO), and Nevada Geothermal power, Inc. (TSD-V: NGP).
Bryan Wilson, Director Over 18 years varied career in fields of mining exploration and dvpmt, and 12 years in fin’l svcs.
Chris Broili, Project Mgr., NY Canyon Exploration project Member of Disclosure Committee
HISTORICAL:
9-28-11 – 10K -- CNYC has funding for proposed exploration program and continued operations ($1,090,000) for next 12 months, which includes 2011 – 2012 unpatented claim maintenance fees and monthly payments on patented claims, re-assay 2006 Longshot Ridge drill pulps, metallurgical sampling + testing, environmental base line study work, geological mapping. -- Anticipates continuing to rely on sale of common & loans to continue funding business operations, incl. dilution, for Phase II.
7-15-11 – Canyon Copper completes Brokered Private Placement + Final Tranche of Non-brokered Private Placement. Also made available on Canadian News Wire. -- Brokered PP – issued 2,164,071 units @ CDN $.035 = $757,425. -- Non-brokered PP – issued 857,142 units @ CDN $.035 = $300,000. -- Warrants 1,510,606 @ CDN $0.50. -- Brokered Warrants exercise restriction on transfer 11-14-11; to 1-13-13. -- Non-brokered Warrants exercise restriction on transfer to 11-9-11; to 1-8-13. -- May accelerate expiry date of warrants if CNYC’s shs close at price = $0.50 for 10 consecutive days providing 30 days notice of acceleration. -- MGI Securities commission CDN $45,445; issued non-transfer options to purchase aggregate of 129,844 units @ CDN $0.35 per unit to selling group members.
7-11-11 -- Form 4 On 7-8-11, ARH Mgmt, Ltd. (CEO Anthony R. Harvey company) acquired 857,142 common @ $0.36 = $308,571.12. Warrants (right to buy) 428,571 common @ $0.52
5-11-11 – Non-Brokered Private Placement (rpt’d. in May 16, 2011 8K) 1. Issued 3,206,602 units @ $0.35 CDN per Unit = $1,112,310.70 CDN. 2. Each unit consists of 1 sh common stock (“Share”) and ½ share non-transferable purchase Warrant (“Warrant”). 3. Each whole Warrant entitles the holder to purchase an add’l Share of the Corporation at a price of $0.50 CDN / Share until November 10, 2012. 4. Company may accelerate expiry date, the accelerated expiry date w/b 30 days after the Company sends out notice of acceleration. 5. Company did not engage in a distribution of this offering in the US. 6. Share issuance represents the first tranche of the Company’s previously announced non-brokered foreign PP offering. Proceeds of offering w/b used to fund the Company’s exploration program on the New York Canyon Project, as well as for gen’l working capital and corporate purposes. 7. Also issued 142,857 units @ $.035 CDN per Unit for total proceeds of $50,000 CDN to a director of the Company.
3-4-11 – Telecon – Rigatoni interpretation of telecom w/ CEO, Anthony Harvey -- He was hired to come in + clean up company; he fired all previously involved; company did a reverse to clean out bad management. -- He has 50 years in mining business. -- He has put 19 mines into production. -- He has put 3 oil and gas projects into production. -- He has worked on projects in 15 countries. -- Just based on 43-101 report, they have a big property with huge potential. -- Conoco did the original drilling and he bought all the data. -- He said they increased the acreage and now think, hypothetically, they have 1.5 billion lbs of Cu and that would have been proven out with additional drilling to become accurate. -- He knows institutions who own stock, and they won’t be selling for a long time, in his opinion. -- Expecting listing at any time in Canada, rated Tier 1 upon application. No guarantees. -- Potential future financing done for small amount, maybe 2.5 mil. Much higher than current stock price (IMO).
10-28-10 – News – CNYC Announces Approval for 79-for-100 Reverse Stock Split Reverse split done in order for its capital structure to conform to capital structure requirements of TSC Venture Exchange, decreasing authorized capital of common stock from 166,666,666 shs (par $.00001/sh) to 131,666,666 shs ($.000001/sh), and issued and O/S common stock reduced from 78,39066,666 shs ($.000001/sh), and issued and O/S common stock reduced from 78,39,307 shs to 6,928,343 shs. http://biz.yahoo.com/e/101101/cnycd.ob10-q.html
5-31-10 – News – CNYC Announces NI 43-101 Indicated + Inferred Resources on Longshot Ridge Copper Skarn Deposit at New York Canyon Project http://biz.yahoo.com/e/100825/cnyc.ob8-k.html
KATX = Kat Exploration (pinksheet) KATG = Kat Gold Holdings Corporation (OTC:BB) KATC = Kat Copper Holdings Corporation (OTC:BB) KATX becomes both KATGand KATCthrough share distributions and reverse merger, respectively
and both will be OTCBB, not Pinksheets.
KATX properties: Rusty, Lucky, Clifton, Colliers, Shaylee, Cabot, etc. KATG properties: Handcamp and Twilite will be under
Summary:
More recently KATX decided to issue those shares as UNRESTRICTED. http://www.marketwire.com/press-release/KAT-Exploration-Inc-Updates-on-1-to-4-OTCBB-Shares-Distribution-of-BVIGOB-1308380.htm This says to me, that management is confident that the Handcamp drill core assays will support the price per share. Those drill core assay results should be released very soon. This is fantastic news, as it will give KATG the liquidity it will need and reduce the need to dilute the stock to provide that liquidity.
What is the relationship between KATX and Handcamp? Why would KATX focus on KATG's Handcamp property? How would KATX benefit from positive results on the Handcamp? How will KATX fund all their exploration?
So, KATX explores Handcamp, gets great results, and brings in MASSIVE money for BVIG/KATG, who in turn funds KATX (as their parent company) with huge sums of money in order to do a very large drill program on the Cabot property(Copper/Gold), the Rusty Ridge(IOCG) and exploration on other properties...which in turn brings in more money to BVIG/KATG...and more money to fund KATX (and so on)...and this would be in addition to the (up to)$5 million KATX secured in January 2010 (http://www.marketwire.com/press-release/Kat-Exploration-Secures-up-5-Million-Funding-With-50-Million-Restricted-Shares-Retires-1184994.htm)
Clear as day. Timing is everything and they clearly have a strategy for benefiting both companies.
A WIN-WIN, FOR KATX AND BVIG/KATG
Now, let's take a look at the properties. I’ve “borrowed” from various sources and tried my best to cite each source. My thanks goes out to all the DD hounds in the KATX board.
So: 1. KAT's customers are "other mining companies" 2. KAT has a "relationship" with "certain" of these "customers" [aka "other mining companies"] 3. Manangement believes this relationship will "assist the company in "implementing its business plan." 4. Its "business plan" is:
Now, the questions are:
1. Who are these "certain" mining companies we have a "relationship" with that will "assist" us in implementing the business plan? (Could it be Aur, Vale, Anaconda, etc.?)
2. What is the nature of our "relationship" that leads management to "believe" they will assist us in carrying out the business plan?
We also saw in the 10-Q:
and...
Hmmmm. I wonder when we could be purchasing one of these "already producing gold mines"? Interesting times my friends. Very interesting indeed.
List of current KATX & KATG claims: does not include new Handcamp claims as of July 27, 2010 Thanks Rick-UK!
You might try zooming in to get a closer look at the area highlighted in the red box below. You should be able to find all of our properties there. You can use the tools on the left and right-hand side to do a little research. You can also select claims and query the database for those claims.
WHAT ARE “GOOD” ASSAY RESULTS?
HOW TO READ AND CONVERT RESULTS TO UNDERSTANDABLE UNITS
ABOUT THE KATG PROPERTIES
SPEAKING OF THE HANDCAMP GOLD PROPERTY
High grade – Gold, Copper, Zinc , Lead & Silver.
KAT Exploration and Bella Viaggio, Inc. Welcome "Senior Vice President of Capital Projects" to Board of Directors and expands Handcamp by another 77 claims
FANTASTIC NEWS. Now we've hired another geologist/ geophysicist! Looks like Handcamp is going to be bigger than originally expected.
SPEAKING OF THE TWI-LITE PROPERTY NOTE: this property is currently owned by KATX, but will be sold to KATG (parent company) and KATX shareholders should receive another share distribution of KATG shares at that time, as with the transfer of Handcamp to KATG
Expect to hear news about exploration on the Twilite property too:
FYI:
KEN STEAD WAS SO IMPRESSED WITH THIS PROPERTY THAT HE RECENTLY ADDED TO IT:
ABOUT THE KATX PROPERTIES SPEAKING OF THE LUCKY PROPERTIES:
EMAIL FROM KEN STEAD RE: THE SIGNIFICANCE OF VALE DEAL
Shaylee Rock Types: Sericite schist derived from felsic volcanic and epiclastic sedimentary protholiths. The region is traversed by numerous faults, most of which are high-level brittle features. The most notable of these are the Charlottetown, Salmon Brook and Platter Cove Faults and the unnamed structure that defines the western boundary of the Love Cove Group. Some of these may represent brittle reactivation of earlier, more fundamental structures. The Shaylee copper mineralization is in a rock cut on the Bunyon's Cove road. The mineralization is approx 75m wide and continues to the shoreline approximately 1km and consists of stringers of native copper, Chalcocite and Malachite staining. Continuing along the road approximately 200m, there is another copper zone containing Chalcocite and Malachite. This showing is approximately 50m wide.
OH YES, AND DID I MENTION, THAT WE CAN EXPECT MORE WORK DONE ON SHAYLEE THIS SUMMER?
SPEAKING OF THE COLLIERS PROPERTY
Colliers Property Mineralization consisting of chalcopyrite, bornite and calcite which occurs as patches and as fillings of fractures in the andesitic and basaltic rocks of the Harbour Main Group. The occurrence consists of an old working with a 90 foot (27 m) shaft. Malachite stains are abundant on the surface of the host rock. copper Mineralization also occurs in the subaerial mafic volcanic rocks as occurrences which usually contain one or more of native copper, chalcocite, chalcopyrite, covellite and bornite in veins, amygdule fillings, disseminations and shear zones. This deposit was documented as early as 1868, and other than the 27m shaft this deposit has never been drilled off leaving much unknown about the source and amount of contained copper and silver within this deposit. Assays from the surrounding host rock yielded results as high as 23.60% Copper and 236.30 g/t silver.
Don’t forget the MASSIVE CLIFTON AREA we recently added just south of the Lucky Properties. AND WE’RE EXPECTING A “FAIRLY QUICK AND EXTENSIVE” EXPLORATION PROGRAM IN LATE SPRING AND EARLY SUMMER!
HISTORY OF SHARE STRUCTURE REDUCTIONS:
2,308,000,000 shares have been retired since January, 2010
AND MORE RECENTLY
NOW, HOW ABOUT FINANCING?
and from Ken Stead’s email:
KAT Exploration new BIG TIME law firm:
KAT Exploration’s HIGHLY EXPERIENCED GEOLOGIST, Mr. R. James Weick:
And now, Mr. Dean Fraser P. Geo and a geophysicist (RDF Consulting Ltd.) have been contracted to work with Mr. R. James Weick on the Handcamp project including the second round of geophysics.
Where are you gonna find a profitable producing mine, for $.03 a share. No reason in the report that they should not continue to be profitable, especially with gold continuing to rise.
Should be higher.... when the market figures it out, it will make me some $$, I am sure.
I'll wager I'm not the only one with this dilemma.......I was going to sell most of the aoag and take the profits, sink them into another mining company...sr*r. But now I'm afraid to sell any aoag. That float....good grief ! It seems just the surface being scratched here.......