Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
ILI.v $ARXRF Georgia Lakes neighbour making moves in Germany...Rock Tech wins thyssenkrupp Materials Trading as potential supplier of raw materials and customer for its lithium hydroxide
VANCOUVER, BC, July 7, 2022 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the "Company") has entered into a non-binding Memorandum of Understanding (the "MOU") with materials distributor and service provider thyssenkrupp Materials Trading GmbH ("thyssenkrupp Materials Trading") in relation to establishing a strategic partnership to supply lithium spodumene concentrate. Rock Tech plans to refine the mineral from the end of 2024 at its proposed converter in Guben, Germany, into high-purity lithium hydroxide, a key element in batteries for electric cars and plug-in hybrids.
Rock Tech Lithium Inc. (CNW Group/Rock Tech Lithium Inc.)
The MOU between the two companies also includes a framework relating to the purchase of high-purity lithium hydroxide by thyssenkrupp Materials Trading for the battery market, as well as other by-products resulting from the refining process. Thus, the potential partnership is expected to promote a more resilient supply chain for lithium directly out of Germany, from raw material sourcing, to refining, to meeting demand of the automotive industry and growing electromobility demands.
Markus Brügmann, Rock Tech's chief executive officer says: "With thyssenkrupp Materials Trading we have found al global logistics and trading partner that gives us further security in the supply of spodumene. This is expected to give us a broader base for our input stream, which would take us a big step forward on the road to success."
Wolfgang Schnittker, chief executive officer of thyssenkrupp Materials Trading, says: "The potential partnership with Rock Tech underlines the systematic expansion of our global trading activities in the international battery and electric vehicles industry. The trading of lithium products would add another very important raw material to our supply portfolio for the production of long-life batteries."
Spodumene is one of the most important raw materials, amongst others, for the production of lithium-ion batteries in electric vehicles. For this purpose, the spodumene mineral must be refined into lithium hydroxide, which can then be supplied to cathode manufacturers for the battery industry worldwide. Cathodes are essential components of battery cells. The lithium spodumene concentrate will be used in Rock Tech's first converter in Guben, Germany, which is expected to produce battery-grade lithium hydroxide from 2024.
ABOUT THYSSENKRUPP MATERIAL SERVICES
thyssenkrupp Materials Services is the largest mill-independent materials distributor and service provider in the Western world, with around 380 locations - including around 260 warehouse sites - in more than 30 countries. The extended range of services offered by the materials experts allows customers to focus even more strongly on their individual core businesses. As part of its strategic development "Materials as a Service", the company is focusing on from high-quality raw and basic materials to technical services and the development of intelligent processes in automation, extended supply chain, and warehouse and inventory management. Digital solutions ensure efficient and resource-saving processes for customers and thus provide the basis for sustainable action. From 2030 Materials Services will operate on a climate-neutral basis.
ABOUT ROCK TECH LITHIUM INC.
Rock Tech Lithium Inc. is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high-quality, "made in Germany" lithium hydroxide. As early as 2024, Rock Tech intends to commission Europe's first lithium converter with a production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
Rock Tech owns the Georgia Lake Project in Ontario, Canada. The Company has set itself the goal of creating a closed loop for lithium, thus closing the raw material gap on the road to clean mobility. As early as 2030, around 50 percent of the raw materials used by Rock Tech are expected to come from the recycling of batteries.
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, this press release contains forward-looking information pertaining to: expectations regarding the MOU, including statements relating to the benefits and outcomes therefrom; future actions taken by Rock Tech and thyssenkrupp Materials Trading, including with respect to establishing a strategic partnership between the parties, the purchase and sale of spodumene and lithium hydroxide, respectively, and the expected benefits of future arrangements between the parties; statements regarding Rock Tech's proposed lithium hydroxide converter, including its features and location; statements regarding Rock Tech's future plans and expectations, including with respect to the Company's feedstock sourcing strategy and the impact of a strategic partnership with thyssenkrupp Materials Trading thereon; anticipated production of lithium hydroxide and related processing methods and outputs; statements and expectations regarding the electric vehicle industry; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties.
Forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company and in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Such assumptions, estimates and other factors include, among other things: the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions, estimates and factors to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the Company's ability to access funding required to invest in available opportunities and projects (including the Company's proposed lithium hydroxide converters) and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities; the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity and other prices, Rock Tech's ability to attract and retain skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of the Company's proposed lithium hydroxide converters, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency, exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech's public disclosure documents available on the Company's SEDAR profile at www.sedar.com, including those discussed under the heading "Risk Factors" in Rock Tech's most recently filed Management Discussion and Analysis and Annual Information Form, respectively. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this press release.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/rock-tech-wins-thyssenkrupp-materials-trading-as-potential-supplier-of-raw-materials-and-customer-for-its-lithium-hydroxide-301582043.html
SOURCE Rock Tech Lithium Inc.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/07/c5908.html
Gold futures rises as G7 nations move to ban bullion imports from Russia
SECTIONSGold rises as G7 nations move to ban bullion imports from
RussiaReutersLast Updated: Jun 27, 2022, 07:20 AM IST
https://economictimes.indiatimes.com/markets/commodities/news/gold-rises-as-g7-nations-move-to-ban-bullion-imports-from-russia/articleshow/92479901.cms
Biden, G-7 Will Ban Russian Gold Imports
Tyler Durden's Photo
BY TYLER DURDEN
SUNDAY, JUN 26, 2022 - 01:56 PM
the biggest buyers of gold in recent years have not been G7 countries (United
States, France, Canada, Germany, Japan, the United Kingdom and Italy), many of
whom naively sold much if not all their gold in the recent past and have refused or
simply don't have the funds to restock;
instead purchases have all been by developing nation central banks (like India
and Turkey, and of course China which however has a habit of only revealing its
true gold inventory every decade or so) who have been quietly preparing to do
what Russia is doing by dedollarizing and instead allocating capital into a
counterparty-free asset.
https://www.zerohedge.com/markets/biden-g-7-will-ban-russian-gold-imports
BTW. Do Your Own Due Diligence;
$TPRFF, $MMY, $MMTMF, $AGI, $AEM, $GGGOF, $GPL; , 10 Bagger Gold Mines Producer, oversold, undervalued Au-Bargain
IMO!
BRICS MEMBERS CHINA, RUSSIA, INDIA, SOUTH AFRICA & BRAZIL WANT:
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
Very Interesting take on why Russia invaded Ukraine only 4 minutes
Q&A Round
SKYG.v $SRKZF Sky Gold to Begin Working With Goldspot Discoveries on The Mustang Project, Newfoundland
by @accesswire on 23 Jun 2022, 05:01
ANNOUNCES FINANCING
VANCOUVER, BC / ACCESSWIRE / June 23, 2022 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") announces it is now working with Goldspot Discoveries Group Corp on arranging for an upcoming program this summer on the Mustang property located in Newfoundland.
Additionally, a 3-week program on the Company's Virginia property has just concluded with a total of 153 channel/hand samples were taken and assays will be announced once received. The Virginia property is located contiguous to the north-eastern portion of the Queensway Gold Project, owned by New Found Gold Corp. and the south-west portion of Labrador Gold's Kingsway project.
Sky Gold further announces it has arranged a non-brokered private placement of 5,000,000 flow-through units (the "FT Units") at a price of $0.06 per FT Unit (the "FT Offering"), for aggregate gross proceeds of $300,000.
Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of SKYG at a price of $0.08 for a period of 24 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).
Sky has also arranged a non-brokered private placement of 6,000,000 units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $300,000 (the "Offering").
Each Unit shall be comprised of one common share ("Share") and one full Share purchase warrant ("Warrant"). Each whole Warrant shall entitle the holder thereof to acquire one Warrant Share of SKYG at a price of $0.08 for a period of 18 months following the closing of the Offering.
Proceeds raised from the Offerings will be used for ongoing work programs at the Company's Mustang property located in Newfoundland as well as general corporate overhead.
Finders' fees will be payable on the private placements, subject to the policies of the TSX Venture Exchange. Closing of the offering is subject to approval of the TSX Venture Exchange.
The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for precious (silver and gold) mineralization and CRD (Carbonate Replacement Deposit) base metal mineralization. The Company owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/706302/Sky-Gold-to-Begin-Working-With-Goldspot-Discoveries-on-The-Mustang-Project-Newfoundland
ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for May 12, 2022
2022-05-12 20:09 ET - Market Summary
by Will Purcell
J.C. St-Amour's Imagine Lithium Inc. ( $ILI ) lost one-half cent to eight cents on 137,000 shares on word that it has drilled an eight-metre interval averaging 1.28 per cent lithium oxide at its Jackpot project in the Georgia Lake district, just north of Nipigon in Northern Ontario. The assays are new, but the drilling is not: The holes were completed in 2018 and Imagine Lithium has gotten around to testing this unsampled core just now. A second hole produced 1.02 per cent lithium oxide over 8.8 metres and while the two others also encountered lithium, the grades were lower and the intervals shorter.Mr. St-Amour, president, says that once he and his crew "refocused on the Jackpot lithium project," they recognized that the old core displayed significant but unsampled spodumene mineralization. The assays, he cheers, "confirm the visuals that we have been seeing." Accordingly, the visually-inclined Mr. St-Amour is looking forward to seeing results from the company's current drill program. That drilling, he cheers, is designed to test the main dike swarm at Jackpot, and to expand on the known historical resource area. The drilling is going well, he concludes, as samples from five holes are now at the lab.Jackpot does indeed have a historical resource, based on two of several known lithium-bearing pegmatite dikes. One of those dikes supported a calculation listing two million tonnes at 1.09 per cent lithium oxide, the other dike contained 750,000 tonnes at 1.38 per cent. Those grades are intriguing and are in line with what has been turning up elsewhere in the Georgia Lake area.
ILI.v $ARXRF Imagine Lithium Sells Its Interests in Red Lake
by @newsfile on 27 Apr 2022, 04:0
Vancouver, British Columbia--(Newsfile Corp. - April 27, 2022) - IMAGINE LITHIUM INC. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Imagine") announced today that it has signed amended agreements to divest of all of its holdings in the Red Lake area to Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium"), and Pegasus Resources Inc. ("Pegasus").
Further to its news release dated December 15, 2021, Trillium and Imagine have signed an amended Definitive Agreement (the "Definitive Agreement") whereby Trillium will acquire a majority of Imagine's property holdings known as the Eastern Vision Project, located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario. Under the terms of the Definitive Agreement, Trillium will acquire 13,958 hectares between the Fredart, Confederation North, and Confederation South properties for a consideration of 2,800,000 common shares of Trillium and $175,000 in cash.
In addition, Imagine has entered into an Amending, Settlement and Termination Agreement with Pegasus (the "Pegasus Agreement") with respect to the February 3, 2020 agreements relating to the Garnet Lake property and portions of the Fredart property (the "Option Agreements"). Under the Pegasus Agreement, Pegasus has agreed to issue to Imagine 5,000,000 common shares of Pegasus in exchange for delivery of certain payment obligations under the Option Agreements and Imagine relinquishing its right to complete the option for the claims under the Option Agreements. The Definitive Agreement and the Pegasus Agreement remain subject to TSX Venture Exchange approval.
J.C. St-Amour, President of Imagine commented, "The transactions to divest of the Red Lake properties gives Imagine, through its share ownership in Trillium and Pegasus, exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area. This also allows us to focus our exploration efforts on our 100% owned Jackpot Lithium project where a drill program is actively underway."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121787
ILI.v $ARXRF Georgia Lakes neighbour (ULT.v) attracts a chinese bid by a
$TSLA supplier https://www.yicaiglobal.com/news/china-yahua-industrial-to-buy-13-of-canadian-lithium-startup-for-usd4-million
BARU.v $BARUF Baru Gold Provides Update on Community Relations on Sangihe Island and Legal Victory for Indonesian Government
by @thenewswire on 22 Apr 2022, 05:30
(TheNewswire)
Baru Gold Corp.
April 22, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide an update on its continuing community relations efforts on Sangihe Island and the dismissal of a lawsuit filed in Jakarta in August of 2021, against the Ministry of Energy and Mineral Resources (“MEMR”) in Indonesia, in relation to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES FOR 2022-Q1
Education
Second donation made to SD Inpres Bentung to participate in the next level of Clean School competition
Provided WiFi to support students on their assignments
Provided mentoring and internship to a local university geology student
Environment
Cleaned up landslide across Bentung-Lesabe village access road
Built embankments at Salurang village with the donation and delivery of 1,000 sandbags
Provided basic necessities for 24 families effected by the disaster at Santiago, Tahuna
Economy (micro/small/medium enterprises)
Provided two laptops for the local village office at Subdistrict Tabukan Selatan Tengah
Continued support of a youth group at Binebase village in fisheries business
Commitment to support the next generation by establishing a relationship with Indonesian student movement on Sangihe Island
Sport
Sponsored Tabukan Selatan football team to participate in regional competition
Community
Donated fire extinguishers to the police station at Tabukan Selatan
Terry Filbert, CEO of Baru Gold, commented, “Baru is committed to ongoing CSR activities and will continue to keep our shareholders informed on a quarterly basis. Baru’s commitment is to both our staff and the community we support through economic, safety and environmental initiatives that include safety equipment for staff that exceed legal requirements, water monitoring, and the procurement of supplies and equipment locally.”
LEGAL UPDATE
On April 20, 2022, a lawsuit filed in Jakarta Administrative Court (“Court”) against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) was dismissed. While Baru was not named in the lawsuit, the Court granted permission for a representative of Baru to attend the proceedings in support of MEMR, as it relates to the mining permit that was granted to the Company’s 70% owned subsidiary, PT Tambang Mas Sangihe. In addition to the dismissal, the presiding judge ordered the plaintiff to pay the costs of the litigation.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in 2022.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
ILI.v $ARXRF holding Trillium Gold Intersects New East-West Structures at Newman Todd https://ceo.ca/@nasdaq/trillium-gold-intersects-new-east-west-structures-at
SKYG.v $SRKZF Newfoundland Neighbour NFG.v $NFGC Investor Eric Sprott makes his biggest bet yet on what he believes could be 'the greatest gold discovery in the history of Canada'
https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the-history-of-canada
BARU.v $BARUF Baru Gold Completes Land Clearing and Provides Construction Update at Sangihe Gold Project
by @thenewswire on 13 Apr 2022, 06:30
(TheNewswire)
Baru Gold Corp.
April 13, 2022 – TheNewswire - Vancouver, BC – Baru Gold Corp (the “Company” or “Baru”) (TSXV:BARU) | (OTC:BARUF) is pleased to announce it has substantially completed clearing of the land and commenced earthworks on the heap leach pad for the Sangihe gold project.
Initial capacity of the heap operation has been set at 100,000 tonnes. The heap leach pad measures 127 by 64 meters. There are currently more than 60 labourers working on the construction project and 90% are local hires from Sangihe Island. This number will significantly increase once production commences. All equipment required for construction will be contracted on the island. Materials that are not available locally will be sourced from Manado which is in the same province as Sangihe. The construction of the heap leach facility does not require the removal or relocation of any residences.
Baru Gold, along with its contractors, have cleared the principal production area, including grubbing and are in the process of rough grading to plan. The next focus will be to construct pond berms and compacting to engineering specifications in preparation for installation of the leach pad liner and processing facility installation.
Heap leaching is an industrial mining process used to extract precious metals and other compounds from ore using a series of chemical reactions that absorb specific minerals and re-separate them after their division from other earth materials. A form of lower cost methods of mining, heap leach mining differs in that it places ore on a liner, then adds the chemicals via drip systems to the ore, whereas in situ mining lacks these liners and pulls pregnant solution up to obtain the minerals. Heap leaching is widely used in modern large-scale mining operations as it produces the desired concentrates at a lower cost compared to conventional processing methods such as flotation, agitation, and vat leaching.
Terry Filbert, President, CEO and Director, commented, “The start of construction of the pads and pond facilities is another milestone for our project at Sangihe. For many years, I have envisioned the goal of gold production being realized and I could not be more thrilled. Once operations are running smoothly and reliable cashflow is being generated at Sangihe, we can parlay that success to the next phase of growth at Baru Gold. With land acquisition on-going and preparations for the drilling program approved and ready to begin, we foresee a very busy and exciting year.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
BARU has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in 2022.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
WHN.v $WTHVF Westhaven Drills A Truly World Class Gold Intercept At Shovelnose http://energyandgold.com/2022/04/07/westhaven-drills-a-truly-world-class-gold-intercept-at-shovelnose/
WHN.v Westhaven Drills 23.03 Metres of 37.24 G/T Gold and 209.52 G/T Silver, Including 1.12 Metres of 294 G/T Gold and 2,110 G/T Silver at the FMN Zone, Shovelnose Gold Property
by @nasdaq on 6 Apr 2022, 07:40
VANCOUVER, British Columbia, April 06, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Gareth Thomas, President & CEO, comments: “We are pleased to report the highest gold-silver intercept (857.64 gram-metres) ever drilled on the Shovelnose gold property, at the FMN Zone. Hole SN22-212 (23.03m of 37.24 g/t gold and 214.70 g/t silver) is over 2 kilometres from the heart of the South Zone resource. We now have multiple gold mineralized drill intercepts at the FMN zone over 500 metres of strike length that begin at bedrock surface in areas with minimal overburden. We believe the FMN zone has the potential to contribute significantly to the property wide precious metals inventory. It is not uncommon in enriched epithermal systems to discover multiple high-grade gold chutes and, given the strong nature of this system and low drill density in this area, we believe there is going to be more high-grade chutes discovered along this ~4-kilometre trend.” Thomas goes on to add, “In addition to the drill currently located at the FMN Zone, a second drill has been added at the Alpine Zone focused on following-up on Hole SNR21-55, which intersected 3.13 metres of 45.23 g/t gold and 195.64 g/t silver. Recent drilling at the Alpine Zone has encountered similar geology to what was encountered in SNR21-55, including intervals containing marcasite, adularia and ginguro."
Westhaven is reporting assays for 22 holes from its ongoing drill campaign at Shovelnose.
Recent Drilling Highlights:
SN22-212 (FMN: 93.94-116.97m)
23.03 metres (m) of 37.24 g/t gold (Au) and 209.52 g/t silver (Ag),
including 1.12m of 294.00 g/t Au and 2,110 g/t Ag.
(79.66-93.94)
14.28m of 2.07 g/t Au and 7.38 g/t Ag,
including 1.34m of 12.95 g/t Au and 34.40 g/t Ag.
(140.00-163.76)
23.76m of 1.45 g/t Au and 9.23 g/t Ag.
SN22-211 (FMN: 86.00-122.00m)
36.00 metres (m) of 3.74 g/t gold (Au) and 20.49 g/t silver (Ag),
including 11.26m of 9.52 g/t Au and 50.03 g/t Ag,
including 2.12m of 30.25 g/t Au and 115.99 g/t Ag.
(22.44-64.61m)
42.17m of 1.16 g/t Au and 4.92 g/t Ag
including 17.94m of 2.07 g/t Au and 8.32 g/t Ag,
including 0.97m of 14.20 g/t Au and 18.65 g/t Ag.
SN21-194 (FMN: 317.99-320.23m)
2.24m of 12.45 g/t Au and 270.00 g/t Ag.
SN21-197 (FMN: 25.80-81.15m)
55.35m of 0.96 g/t Au and 2.98 g/t Ag,
including 11.93m of 3.18 g/t Au and 10.28 g/t Ag,
also including 1.08m of 24.30 g/t Au and 79.30 g/t Ag.
SN22-204 (FMN: 24.98-64.00m)
39.02m of 0.89 g/t Au and 2.60 g/t Ag,
including 13.79m of 1.80 g/t Au and 4.40 g/t Ag.
SN22-205 (FMN: 45.00-79.00m)
34.00m of 1.10 g/t Au and 3.93 g/t Ag,
including 21.00m of 1.66 g/t Au and 5.65 g/t Ag,
and 2.00m of 5.01 g/t Au and 9.76 g/t Ag.
Please click the following link to the 2021 & 2022 drill database tables of assay results:
2021 & 2022 drill database: https://www.westhavengold.com/projects/shovelnose-gold/maps/
Peter Fischl, Exploration Manager, comments: “Drilling on the Shovelnose Gold Project started this year at FMN in order to follow-up on higher grade intersections from last year’s drilling (e.g. hole SN21-161: 9.15 g/t Au over 15.97m) and broader intervals of near-surface mineralization (e.g. hole SN21-188: 0.76 g/t Au over 57.8m). This year’s drilling at FMN continues to intersect these two styles of mineralization. Gold-bearing intervals are hosted in quartz-adularia veins comprising Vein Zone 1 and heterolithic breccias containing mineralized quartz fragments derived from Zone 1 veins. The breccias can form broad intervals of near surface gold mineralization such as in hole SN22-205 (1.1 g/t Au over 34.0m) and SN22-211 (1.16 g/t over 42.17m). Drilling continues to intersect higher grade intervals hosted in Vein Zone 1 as well, as seen deeper down in hole SN22-211 (9.52 g/t Au over 11.26m, including 30.25 g/t Au over 2.12m) and in SN22-212 (37.24 g/t Au over 23.03m). Drilling at FMN will continue on 50m spaced sections along strike towards the southeast to follow-up additional mineralization uncovered during 2020 drilling. A geophysical program is planned for FMN later this Spring to assist in targeting Vein Zone 1 between FMN and Franz to the northwest.”
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70% passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
PLAN MAP
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8019cb7c-c32e-4a59-8b09-0639087cfcd7
CROSS-SECTIONS
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1478dd37-7907-4a90-a978-f32594924ab8
https://www.globenewswire.com/NewsRoom/AttachmentNg/a4a7155f-ff65-482a-b4c3-882571d5305b
https://www.globenewswire.com/NewsRoom/AttachmentNg/8edd2199-eeb6-4f67-b56e-38afd8ac605b
https://www.globenewswire.com/NewsRoom/AttachmentNg/e25886cb-6a0d-41b6-a8d8-8aa80b98f852
Primary Logo
Image 1
Image 1
Image 2
Image 2
Image 3
Image 3
Image 4
Image 4
Image 5
Image 5
ILI.v $ARXRF Canada to invest C$2 bln on mineral strategy for EV battery supply chain https://ceo.ca/@sustainabedude/canada-to-invest-c2-bln-on-mineral-strategy-for-ev-battery-supply-chain
$Geodan Thanks; ALERT: Major Developments In The Gold Market
March 25, 2022
https://kingworldnews.com/alert-major-developments-in-the-gold-market/
$30,000 GOLD? Russia Says Certain Countries Will Have To Pay For Gas
Using Gold But This Is The Big Surprise
March 24, 2022
https://kingworldnews.com/30000-gold-russia-says-certain-countries-will-have-to-pay-for-oil-using-gold-but-this-is-the-big-surprise/
Seeking Alpha Report on (GG) (GGGOF) very positive for long investors! )
https://seekingalpha.com/author/larry-hall
Yes BornAgain, here is comment on it:
New Galane article by @Larry Hall;
https://seekingalpha.com/article/4497771-galane-junior-miner-bright-prospects
Here is my comment:
I have a large position and have bot more in the .10s in last two days.
What excites me is currently Galane is a 4 PE gold miner (trailing 12
months), but gold is much higher now and the Mupane Mine related debt
(vast majority) is going away with its sale.
At the same time the Galaxy ore body at the Galaxy Mine has just in Dec
gone into production, and is much lower AISC.
So profits will go way up at the same time that debt goes way down.
Debt is the main thing that is holding Galane back both stock wise and
funding Summit wise.
The main gem Galane owns is the Galaxy mine, millions of gold oz
resources.
Yet all this for just $38 million market Cap! In the future they can be
making more than $38 million profit a year with Galaxy and Summit
going, two low ASIC mines.
The Galaxy mill which is quite new is way bigger than the current
mining rate.
Obviously they plan to grow Galaxy Mine production.
As this mine cross section shows;
https://static.seekingalpha.com/uploads/2021/10/10/535947-16338709121900315_origin.png
they have vein after vein there with tunnel access to all and are
just mining one vein now.
BTW that project just into production had a 1,000%+ IRR, the highest
have ever seen.
Their neighboring mine has found that the deeper they go the higher the
gold grade becomes.
Galaxy has just been mined for decades on the easy upper parts of those
veins.
All the veins are open downward, and they are very wide veins.
Galane may have 5 million oz of gold at Galaxy alone, it has not yet
been drilled deeper.
I suggest readers read Galane's newest presentation and watch video
interviews they have done.
https://www.galanegold.com/_resources/presentations/corporate-presentation.pdf
https://vimeo.com/340191652?embedded=true&source=vimeo_logo&owner=392495
CRUX interview
ILI.v $ARXRF Electric vehicle battery plant set for Windsor, Ont., signals Canada is a 'player' in auto industry's future https://www.cbc.ca/news/canada/windsor/electric-vehicle-battery-plant-windsor-1.6394444
SKYG.v $SRKZF Newfoundland neighbour out with a completely new zone and set of great results...
New Found Intercepts 31.88 g/t Au Over 2.05m & 25.4 g/t Au Over 2.25m at New Gold Discoveries on the JBP Fault Zone ~10km NE of the Keats/Golden Joint/Lotto Discoveries
by @businesswire on 9 Mar 2022, 03:00
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 51 diamond drill holes designed to test for epizonal style high-grade gold mineralization along the JBP Fault Zone (‘JBPFZ’). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway project located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220309005419/en/
Figure 1. Queensway North regional plan view (Note extent of gold mineralization over 12.4km from limited drilling and surface sampling correlated to the JBP corridor) (Graphic: Business Wire)
Figure 1. Queensway North regional plan view (Note extent of gold mineralization over 12.4km from limited drilling and surface sampling correlated to the JBP corridor) (Graphic: Business Wire)
Highlights
The JBPFZ is interpreted to consist of a network of NE-trending, steeply dipping, regional-scale, gold bearing shear zones that extend for +100km of strike parallel to and approximately 5km east of the Appleton Fault Zone (‘AFZ’). Reconnaissance diamond drilling completed to date has focused on a +3.5km segment of the JBPFZ that encompasses the 1744 and Pocket Pond target areas (Figure 1).
Historic field work covering the JBPFZ corridor identified several very high-grade gold quartz float boulders (Figure 5) with textures and mineralization styles interpreted to be of epizonal origin and characteristic of the Keats/Golden Joint/Lotto discoveries along the AFZ (Figure 1) in addition to strong Au-in-till anomalies including one sample containing 1744 gold grains at the 1744 Zone. Drilling is targeting possible sources of these high-grade boulders and gold-in-till anomalies.
Recent drilling intersected several near surface high-grade gold occurrences in the 1744 and Pocket Pond target areas. Highlights from this drilling are provided in Table 1 and include the intercepts of 31.88 g/t Au over 2.05m in NFGC-21-180 and 25.40 g/t Au over 2.25m in NFGC-21-304 and are interpreted to be epizonal style high-grade gold mineralization (Figures 1, 2, 3, 4, and 6).
This drilling was designed to test initial target concepts over a large area, a +3.5km long domain of the JBPFZ that is up to 1km wide (Figure 1). While 51 holes have been reported here, drilling to date has only tested a small portion of this 3.5km long fault segment. The Company is very encouraged by the success rate in intercepting high-grade gold mineralization from this initial reconnaissance drilling. Ongoing exploration drilling will focus on stepping out from significant intervals of gold mineralization in addition to testing high-grade gold epizonal targets over large tracts of the JBPFZ corridor.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-180
32.00
34.05
2.05
31.88
1744
NFGC-21-195
283.70
286.50
2.80
16.66
1744
NFGC-21-202
145.85
147.90
2.05
17.10
1744
NFGC-21-207
60.00
66.00
6.00
8.66
1744
Including
63.55
66.00
2.45
19.66
NFGC-21-230
87.00
89.00
2.00
8.92
Pocket Pond
NFGC-21-245
152.60
154.80
2.20
7.26
Pocket Pond
NFGC-21-304
81.60
83.85
2.25
25.40
Pocket Pond
And
90.50
96.35
5.85
5.46
Including
90.50
93.85
3.35
8.94
Table 1: 1744 and Pocket Pond Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 75% to 90% of reported intervals for Pocket Pond and 55% to 65% of reported intervals for 1744. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
Melissa Render, P.Geo., VP Exploration for New Found, stated: “To date our drilling at Queensway has focused on the Appleton Fault Zone and has delivered outstanding results including high-grade discoveries at the Keats, Golden Joint and Lotto zones. As our understanding improves regarding the likely genesis of epizonal high-grade gold mineralization at the Appleton discoveries, the occurrence of boulders (Figure 5) displaying similar characteristics and very strong Au-in-till anomalies along the JBPFZ is highly encouraging, indicating excellent potential for discovery along this +100km long trend. Historic work has demonstrated widespread gold mineralization within the JBPFZ corridor which is interpreted to consist of a network of regional-scale gold-bearing shear zones. Characteristic of orogenic gold systems and similar to mineralization controls along the AFZ, our working concept is that high-grade epizonal style gold mineralization would be hosted in focused areas along the JBPFZ.
In 2019, our initial drill program concentrated on a short segment of the JPBFZ encompassing H-Pond and 1744 target areas and consisted of six diamond drill holes which returned very promising intercepts such as 6.73 g/t Au over 3.0m in NFGC-19-05 and 17.45 g/t Au over 2.0m in NFGC-19-09 (Figure 3). In late 2021, follow-up drilling commenced testing new targets along a broad expanse of the JBPFZ including 1744 and Pocket Pond target areas (Figure 1). This drilling has returned intervals of high-grade, near surface, epizonal style gold mineralization, with results including 31.88 g/t Au over 2.05m in hole NFGC-21-180 in the 1744 area (Figures 3 and 4). Ongoing drilling at JBP will step-out and continue to test around these high-grade intervals. We are excited that work at JBP is affirming the discovery potential for high-grade epizonal style mineralization similar to what we have encountered in our more advanced work along the AFZ. Our ramp up to 14 drills will give us flexibility to aggressively explore the full approximately 12.4km corridor of prospective strike along JBP on Queensway North."
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-150
67.00
69.00
2.00
3.83
1744
NFGC-21-155
30.00
32.00
2.00
1.56
1744
And
146.00
148.00
2.00
1.98
1744
NFGC-21-158
162.90
165.20
2.30
3.54
1744
NFGC-21-167
9.50
11.50
2.00
1.24
1744
NFGC-21-175
NSV
1744
NFGC-21-176
145.15
147.15
2.00
4.72
1744
And
164.35
167.00
2.65
1.30
NFGC-21-179
NSV
1744
NFGC-21-180
32.00
34.05
2.05
31.88
1744
NFGC-21-183
37.00
39.00
2.00
2.55
1744
NFGC-21-185
197.00
199.10
2.10
1.38
1744
And
313.40
315.85
2.45
1.31
NFGC-21-186
NSV
1744
NFGC-21-191
NSV
1744
NFGC-21-192
46.65
48.65
2.00
1.12
1744
NFGC-21-195
283.70
286.50
2.80
16.66
1744
NFGC-21-202
145.85
147.90
2.05
17.10
1744
And
189.00
191.00
2.00
3.44
And
194.00
196.00
2.00
1.51
And
202.80
205.00
2.20
1.38
NFGC-21-207
43.55
46.10
2.55
3.33
1744
And
60.00
66.00
6.00
8.66
Including
63.55
66.00
2.45
19.66
And
263.00
265.00
2.00
1.01
NFGC-21-221
287.50
289.50
2.00
4.09
1744
NFGC-21-232
277.00
279.00
2.00
2.00
1744
NFGC-21-452
320.50
322.70
2.20
2.21
1744
And
324.60
326.75
2.15
2.98
And
337.30
339.30
2.00
6.82
And
372.30
374.45
2.15
4.30
Table 2: Summary of results reported in this release for 1744 Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 55% to 65% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Assays have been previously reported.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-210
46.00
48.00
2.00
1.20
Pocket Pond
NFGC-21-214
18.50
20.85
2.35
6.33
Pocket Pond
NFGC-21-218
NSV
Pocket Pond
NFGC-21-220
80.00
82.00
2.00
2.14
Pocket Pond
And
109.00
111.00
2.00
6.03
NFGC-21-226
NSV
Pocket Pond
NFGC-21-230
87.00
89.00
2.00
8.92
Pocket Pond
And
95.65
97.65
2.00
2.08
Pocket Pond
NFGC-21-235A
100.40
102.60
2.20
1.06
Pocket Pond
NFGC-21-239
196.00
198.85
2.85
3.77
Pocket Pond
NFGC-21-245
152.60
154.80
2.20
7.26
Pocket Pond
And
161.55
163.55
2.00
4.27
And
167.40
169.40
2.00
1.49
NFGC-21-253
NSV
Pocket Pond
NFGC-21-258
NSV
Pocket Pond
NFGC-21-261
NSV
Pocket Pond
NFGC-21-267
51.00
53.00
2.00
1.59
Pocket Pond
NFGC-21-273
NSV
Pocket Pond
NFGC-21-276
NSV
Pocket Pond
NFGC-21-279
191.00
193.10
2.10
1.16
Pocket Pond
NFGC-21-286
NSV
Pocket Pond
NFGC-21-291
NSV
Pocket Pond
NFGC-21-299
95.90
98.00
2.10
1.69
Pocket Pond
NFGC-21-304
81.60
83.85
2.25
25.40
Pocket Pond
And
90.50
96.35
5.85
5.46
Including
90.50
93.85
3.35
8.94
NFGC-21-309
NSV
Pocket Pond
NFGC-21-313
NSV
Pocket Pond
NFGC-21-316
124.10
126.40
2.30
2.26
Pocket Pond
NFGC-21-325
NSV
Pocket Pond
NFGC-21-331
NSV
Pocket Pond
NFGC-21-334
NSV
Pocket Pond
NFGC-21-340
292.40
294.50
2.10
2.19
Pocket Pond
NFGC-21-347
NSV
Pocket Pond
NFGC-21-362
114.00
116.00
2.00
1.84
Pocket Pond
And
123.40
128.20
4.80
1.92
NFGC-21-366A
NSV
Pocket Pond
NFGC-21-377
83.60
87.95
4.35
2.54
Pocket Pond
NFGC-21-381
NSV
Pocket Pond
Table 3: Summary of results reported in this release for Pocket Pond Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 75% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.2Assays have been previously reported
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-150
300
-45
230
665135
5430889
NFGC-21-155
300
-45
263
665202
5430908
NFGC-21-158
300
-45
287
665305
5430936
NFGC-21-167
300
-45
230
665274
5430982
NFGC-21-175
300
-45
191
665158
5430934
NFGC-21-176
300
-45
224
665320
5431013
NFGC-21-179
300
-45
254
665364
5430988
NFGC-21-180
300
-45
245
665204
5430850
NFGC-21-183
300
-45
193
665184
5430977
NFGC-21-185
300
-45
358
665242
5430828
NFGC-21-186
300
-45
260
665130
5430834
NFGC-21-191
300
-45
308
665245
5430884
NFGC-21-192
300
-45
274
665173
5430809
NFGC-21-195
300
-45
304
665267
5430870
NFGC-21-202
300
-45
245
665190
5430887
NFGC-21-207
299
-45.5
341
665232
5430862
NFGC-21-210
120
-45.5
113
663442
5428865
NFGC-21-214
119
-45.5
155
663476
5428873
NFGC-21-218
299
-45.5
179
663407
5428928
NFGC-21-220
120
-45
248
663387
5428869
NFGC-21-221
300
-45
362
665288
5430859
NFGC-21-226
120
-45
161
663408
5428856
NFGC-21-230
119
-45.5
182
663403
5428873
NFGC-21-232
300
-44
300
665278
5430893
NFGC-21-235A
120
-45.5
173
663420
5428877
NFGC-21-239
120
-45
272
663339
5428910
NFGC-21-245
120
-45
251
663365
5428880
NFGC-21-253
120
-45.5
246
663361
5428824
NFGC-21-258
120
-45
239
663348
5428803
NFGC-21-261
120
-45
227
663394
5428834
NFGC-21-267
120
-45
272
663416
5428821
NFGC-21-273
121
-45.5
251
663374
5428862
NFGC-21-276
121
-45.5
197
663358
5428854
NFGC-21-279
120
-45
239
663313
5428890
NFGC-21-286
120
-45
278
663282
5428897
NFGC-21-291
120
-45
266
663322
5428859
NFGC-21-299
121
-45.5
131
663454
5428886
NFGC-21-304
121
-45.5
182
663432
5428898
NFGC-21-309
121
-45.5
224
663351
5428931
NFGC-21-313
120
-45
194
663303
5428672
NFGC-21-316
120
-45
167
663269
5428683
NFGC-21-325
120
-45
242
663398
5428886
NFGC-21-331
121
-45.5
236
663373
5428903
NFGC-21-334
121
-45.5
365
663034
5428210
NFGC-21-340
121
-45.5
353
663047
5428232
NFGC-21-347
120
-45
296
663073
5428217
NFGC-21-362
121
-45.5
266
663156
5428464
NFGC-21-366A
120
-45
242
663411
5428912
NFGC-21-377
120
-45
191
663436
5428955
NFGC-21-381
121
-46.5
287
663346
5428949
NFGC-21-452
299
-45
419
665184
5430757
Table 4: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 37% of the planned 400,000m program at Queensway has been drilled to date with approximately 24,900m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 55% to 65% of reported core lengths at 1744 and 75% to 90% at Pocket Pond. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 3% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated March 9, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 37% complete. The Company is well funded for this program with a current working capital balance of approximately $116 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005419/en/
ILI.v $ARXRF Georgia Lakes neighbour RCK.v out with interesting news...
Rock Tech Lithium Signs Memorandum of Understanding with Romanian Government
by @newswire on 8 Mar 2022, 06:00
Site Selection Process Underway for First Expected Lithium Hydroxide Converter in Eastern Europe
VANCOUVER, BC, March 8, 2022 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce the signing of a non-binding Memorandum of Understanding ("MoU") with the Government of Romania. The MoU provides for cooperation and support in the Company's search for a location in Romania for one of the Company's next planned lithium hydroxide converters (the "Converter") and, in the longer term, the construction and operation of such Converter.
Rock Tech believes that a key factor in the site selection process of its second proposed Converter will be access to regional infrastructure, such as transportation links and a rail connection. Rock Tech will seek a close collaboration with authorities, experts, and local partners for all further planning steps.
Following the signing of the MoU, the Company expects to start examining various locations in Romania and elsewhere in Eastern Europe for the site of its proposed Converter, which will further Rock Tech's strategy of building several Converters across Western and Eastern Europe to supply the European electric vehicle industry with high quality lithium hydroxide. The proposed Converter will refine lithium-bearing rock into high-purity lithium hydroxide, which is needed by the electric vehicle industry and its suppliers to manufacture batteries for electric vehicles.
The proposed Converter is expected to produce approximately 24,000 metric tons of lithium hydroxide per year, equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries. With an estimated capital cost of approximately €400 million, the proposed Converter is expected to provide significant and enduring economic benefits, including the direct and indirect creation of more than 500 jobs during its construction and operation.
The MoU establishes a framework meant to address a number of significant factors in the Company's decision-making process, which include:
access to government grants and other financial incentives to support the development of a large scale, commercial cleantech project;
predictable and reasonable permitting and approvals processes and timelines; and
streamlined sharing of information and data for collaboration among project stakeholders.
Rock Tech's Chairman, Dirk Harbecke, and Virgil Popescu, the Minister of Energy for Romania, sign the Memorandum of Understanding (CNW Group/Rock Tech Lithium Inc.)
"We want to initiate the construction and operation of five lithium-hydroxide converters in Europe by 2029 and are grateful for the Government of Romania to support us in finding the ideal location for one of our next converters. It took us almost two years to find and sign our first location in Guben, Brandenburg. To keep our ambitious targets, we plan wisely and long-term. We not only want to invest in Romania, but also build up know-how, create jobs and work closely with local partners," states Dirk Harbecke, Chairman of Rock Tech Lithium.
About Rock Tech Lithium Inc.
Rock Tech Lithium is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality lithium hydroxide "made in Germany". As early as 2024, the Company intends to commission Europe's first lithium converter with a nameplate production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
The Company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake Project in Ontario, Canada and, as early as 2030, around 50 percent of the raw materials used are expected to come from the recycling of batteries.
Rock Tech Lithium - The super fuel for the battery age
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, this new release contains forward-looking information pertaining to: the features and location of the proposed Converter, including the costs and benefits thereof; statements regarding future plans, estimates, and schedules relating to the Company's Converter strategy; statements regarding future activities undertaken in connection with the MoU; anticipated production of lithium hydroxide and related processing methods; statements and expectations regarding the electric vehicle industry; Rock Tech's planning, approval and decision-making process, including relevant factors taken into consideration by the Company; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties.
Forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company and in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Such assumptions, estimates and other factors include, among other things: the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions, estimates and factors to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the Company's ability to access funding required to invest in available opportunities and projects (including the proposed Converter) and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities, the anticipated benefits of MoU may not be realized; the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity and other prices, Rock Tech's ability to attract and retain skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of the proposed Converter, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency, exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech's public disclosure documents available on the Company's SEDAR profile at www.sedar.com, including those discussed under the heading "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this press release.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/rock-tech-lithium-signs-memorandum-of-understanding-with-romanian-government-301497580.html
SOURCE Rock Tech Lithium Inc.
Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2022/08/c2865.html
$Gold Market Setting The Stage For A Massive Shorts Squeeze
https://kingworldnews.com/gold-market-setting-the-stage-for-a-massive-shorts-squeeze/
$TM Thanks; SPROTT: Massive Gold Break Out With Price Now Approaching $2,000!
https://kingworldnews.com/sprott-gold-bullion-breaks-out-gold-price-approaching-2000/
$Michael Oliver – We Are On The Face Of A Move That Is
So Dramatic For Gold & Silver That It Erases Any Prior Bull Moves In
Terms Of Dynamics And Percentages
March 05, 2022
https://kingworldnews.com/michael-oliver-we-are-on-the-face-of-a-move-that-is-so-dramatic-for-gold-silver-that-it-erases-any-prior-bull-moves/
$GCM Mining - Red Cloud 2022 Pre-PDAC Mining Showcase
26 views Mar 3, 2022
https://www.youtube.com/watch?v=W7MBFXFBke8&t=29s
SKYG.v $SRKZF more nice hits from our Newfoundland neighbour...
New Found Intercepts 47.82 g/t Au Over 9.75m at Keats Main, Extends High-Grade Zone to Surface With Interval of 55.61 g/t Au Over 3.20m
by @businesswire on 2 Mar 2022, 03:01
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 17 diamond drill holes targeting expansion of the Keats Zone (“Keats”). These holes were drilled as part of the Company’s ongoing 400,000m diamond drill program at its 100%-owned Queensway Project (“Queensway”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220302005402/en/
Figure 1: Left: Photo of mineralization from NFGC-21-256A approximately 161.2 m down hole depth and Right: NFGC-21-285 approximately 70.28m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-256A and NFGC-21-385. (Photo: Business Wire)
Figure 1: Left: Photo of mineralization from NFGC-21-256A approximately 161.2 m down hole depth and Right: NFGC-21-285 approximately 70.28m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-21-256A and NFGC-21-385. (Photo: Business Wire)
Keats Drill Result Highlights
Highlight intervals from this drilling are summarized below. Additional results are provided in Table 2.
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-256A
127.15
129.40
2.25
15.07
Keats Main
And
157.00
166.75
9.75
47.82
Including
158.00
161.65
3.65
125.49
NFGC-21-306
113.85
117.00
3.15
10.66
Keats Main
NFGC-21-376
191.00
193.05
2.05
13.65
Keats Main
NFGC-21-385
69.60
72.80
3.20
55.61
Keats Main
Table 1: Highlight results from the Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.
The interval of 47.82 g/t Au over 9.75m in NFGC-21-256A provides further definition of a south-plunging zone of significant thickening of high-grade gold mineralization within the Keats-Baseline Fault interpreted to be hosted in a zone of dilation (Figures 1 and 2).
The intercept of 55.61 g/t Au over 3.20m in NFGC-21-385 is shallow - at approximately 45m vertical depth - and is located approximately 425m south-west of where the south-plunging dilation zone is projected to subcrop at surface beneath a thin blanket of glacial till. This high-grade interval is approximately 200m vertically above the dilation zone on this section line clearly demonstrating the significant extension of high-grade gold outside the dilation zone and towards surface within the Keats-Baseline Fault.
Similarly, the intercept of 10.66 g/t Au over 3.15m in NFGC-21-306 is approximately 75m up-dip of intervals interpreted to be in the dilation zone including NFGC-21-104 which returned 29.10 g/t Au over 11.4m (previously reported, see March 1, 2021, news release).
Greg Matheson P.Geo., Chief Operating Officer for New Found, stated: “These impressive high-grade drill intervals at Keats continue to extend and add definition to the Keats discovery. The intercept of high-grade near surface (45m depth) gold mineralization at a location over 400m south-west from where the thickened dilation zone of high-grade gold is projected to reach surface further demonstrates the broader extent of high-grade gold mineralization hosted within the Keats-Baseline Fault. At Keats, high-grade gold mineralization has now been intercepted in drilling over approximately 800m of strike and from surface to nearly 400m of vertical depth. The three drills operating at Keats continue to step out in all directions. As an orogenic gold system there is good potential to extend this system to multiples of the depth tested so far, and our ongoing drilling will continue to chase this high-grade zone to depth.”
Drillhole Details
Recent reinterpretation of previously reported Footwall Zone intercepts 88.53 g/t Au over 3.35m in NFGC-21-238 (see October 13, 202,1 news release), 56.69 g/t Au over 2.45m in NFGC-21-407 (see January 13, 2022, news release) and 28.20 g/t Au over 4.50m in NFGC-21-413A (see January 26, 2022, news release) suggest these may occur within an area of the Keats Main Zone that has been offset by an east-west trending fault zone. The Keats long section has been updated to reflect this change in interpretation (Figure 2).
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Zone
NFGC-21-151
47.00
49.45
2.45
1.44
Keats Main
And
54.00
56.00
2.00
6.20
NFGC-21-248A
39.30
43.20
3.90
1.15
Keats HW
And
No Significant Values
Keats Main
NFGC-21-251
10.90
13.45
2.55
1.78
Keats HW
And
174.50
176.55
2.05
1.20
Keats Main
And
177.30
179.40
2.10
1.04
And
186.00
188.00
2.00
1.38
And
206.00
210.25
4.25
3.74
Including
207.85
210.25
2.40
5.42
And
221.50
224.00
2.50
1.30
And 2
227.00
229.00
2.00
137.49
NFGC-21-256A
127.15
129.40
2.25
15.07
Keats Main
And
143.00
145.10
2.10
1.43
And
157.00
166.75
9.75
47.82
Including
158.00
161.65
3.65
125.49
And
170.80
173.00
2.20
1.13
NFGC-21-257
8.35
11.00
2.65
1.11
Keats HW
And
11.85
16.10
4.25
1.77
And2
62.30
65.00
2.70
9.18
And
176.40
179.00
2.60
1.83
Keats Main
And2
229.50
236.00
6.50
16.04
Including2
229.50
232.55
3.05
24.12
NFGC-21-282
99.85
101.85
2.00
1.81
Keats Main
And
106.45
111.00
4.55
2.68
Including
106.45
108.60
2.15
4.37
NFGC-21-305
124.70
126.70
2.00
1.49
Keats HW
And
236.40
238.50
2.10
3.90
Keats Main
NFGC-21-306
68.30
70.45
2.15
1.70
Keats Main
And
113.85
117.00
3.15
10.66
And
120.75
123.00
2.25
1.89
NFGC-21-310
164.00
166.00
2.00
1.33
Keats HW
And2
279.25
281.45
2.20
104.59
Keats Main
NFGC-21-315
302.70
307.50
4.80
1.16
Keats Main
NFGC-21-337
215.00
218.80
3.80
2.28
Keats Main
And
227.70
230.00
2.30
1.15
NFGC-21-361
82.50
85.30
2.80
1.07
Keats Main
And
87.25
89.25
2.00
1.29
NFGC-21-376
178.65
180.65
2.00
1.65
Keats Main
And
191.00
193.05
2.05
13.65
And
196.00
198.15
2.15
2.46
NFGC-21-380
96.40
98.75
2.35
1.39
Keats HW
And
158.20
160.25
2.05
8.54
Keats Main
And
175.30
177.95
2.65
1.14
And
234.30
236.50
2.20
1.12
NFGC-21-384
213.25
216.50
3.25
1.47
Keats Main
And
219.00
221.00
2.00
1.01
And
238.90
243.00
4.10
1.82
And
265.00
267.00
2.00
1.22
NFGC-21-385
69.60
72.80
3.20
55.61
Keats Main
NFGC-21-400
No Significant Values
Keats Main
Table 2: Summary of results reported in this release for Keats Zone
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. 2Assays have been previously reported.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-21-151
300
-45
203
658031
5427399
NFGC-21-248A
117
-75
372
657930
5427271
NFGC-21-251
118
-75
334
657951
5427310
NFGC-21-256A
299
-46
257
658197
5427374
NFGC-21-257
118
-78
346
657951
5427310
NFGC-21-282
299
-46
222
658287
5427481
NFGC-21-305
299
-46
321
658081
5427225
NFGC-21-306
299
-46
179
658100
5427358
NFGC-21-310
300
-45
386
658112
5427179
NFGC-21-315
300
-45
428
658111
5427150
NFGC-21-337
299
-46
266
658059
5427238
NFGC-21-361
299
-46
218
658055
5427326
NFGC-21-376
120
-72
351
657972
5427337
NFGC-21-380
300
-45
308
657965
5427205
NFGC-21-384
299
-46
317
658139
5427249
NFGC-21-385
299
-46
290
657961
5427265
NFGC-21-400
299
-46
93
658096
5427274
Table 3: Details of drill holes reported in this release
Queensway 400,000m Drill Program Update
Approximately 37% of the planned 400,000m program at Queensway has been drilled to date with approximately 25,400m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs by the end of Q1 2022.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 60% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and calculated intervals are reported over a minimum length of 2 meters using a lower cut-off of 1.0 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 3% of sample pulps are sent to secondary laboratories for check assays.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated March 2, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 37% complete. The Company is well funded for this program with a current working capital balance of approximately $116 million.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," “suggests,” "potential," "goal," "objective," "prospective," “possibly,” and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005402/en/
SKYG.v $SRKZF Sky Gold Plans 2022 Exploration Activities on the Mustang Property, Newfoundland
by @accesswire on 2 Mar 2022, 02:00
VANCOUVER, BC / ACCESSWIRE / March 2, 2022 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") announces exploration activities for the forthcoming 2022 field season on the company's Mustang property, which is contiguous with New Found Gold Corp.'s Queensway gold project.
The Company is currently sourcing a contractor to commence activities on the Mustang Property which will include induced polarization ("IP") geophysics, detailed soil and rock geochemistry sampling over established anomalies, trenching and geological mapping. This program will be followed by a Phase 2 diamond drill program directed at other targets including:
West Targets - Comprises multiple gold-in-soil anomalies over an area measuring approximately 1,000 meters x 600 meters oriented in a NE-SW direction, paralleling the interpreted Dog Bay Line regional structure. The soil anomalies are located east of the Jasperoid and Barite Showings.
North Woodman Pond Target - Covering an area of 2,000 by 750 meters, this target includes the highest gold-in-soil values received to date of 55 parts per billion gold ("ppb") Au, with highly anomalous arsenic (As) at 87 parts per million ("ppm"). This target is flanked on both sides by the Schooner Fault and offset structures, as identified on Exploits Discovery Corp. ("NFLD") contiguous Mt. Peyton project. NFLD reports that the Schooner Fault represents a sub-parallel trending fault system, identified by GoldSpot Discoveries Corp. (TSX.V: SPOT) for NFLD, located approximately 3.5 km west of the known gold bearing Appleton Fault that hosts New Found Gold's Keats, Lotto, and Knob Zone gold discoveries.
RB (Road Breccia) Target - The RB Target comprises gold-in-soil anomalies along with associated anomalous As values. The anomaly area measures roughly 1,200 meters by 600 meters, in an east-west direction, with anomalous copper (Cu) values being more widespread.
"We are looking forward to starting our 2022 field season directed at defining multiple targets on the Mustang Property that have never been drill tested. Our Mustang and Virginia properties are strategically located in the heart of Newfoundland's modern-day gold rush and poised for discoveries," stated Mike England, CEO of Sky Gold.
Last year (2021) activities included geological mapping, prospecting, soil and rock geochemistry, magnetic geophysics and 3,283 meters of diamond drilling in 19 holes. Drilling was conducted in three areas along the main Mustang Zone, over a length of 1.2-kilometres, trending north-northeast and south-southwest. Significant intervals of lower-grade gold were intercepted in multiple holes, with potential for low-grade, bulk-style mineralization on portions of the Mustang zone. The Company also identified multiple new gold-in-soil geochemical anomalies in the northern and western portions of the Mustang Property (see news release dated June 2, 2021).
The Company also owns the Virginia property in Newfoundland, located contiguous to the southern margin of Labrador Gold Corp.'s Kingsway property where drilling is active on the Big Vein target. The Virginia property has received all necessary permits for its maiden diamond drill program.
Soil Geochemistry Survey Details
Sample processing and assays were completed by Eastern Analytical Labs, of Springdale, Nova Scotia, and ISO 17205 certified laboratory facility. The minus-80 mesh fractions of the samples were analyzed by Fire Assay for Au, and Induction-Coupled Plasma optical emission analysis (ICP-OES), after four-acid (HCl/HNO3/HClO4/HF) digestion for Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, In, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Se, Sn, Sr, Ti, U, V, W, Zn and Zr.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, and Independent Director of Sky Gold, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Evening Star property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for precious (silver and gold) mineralization and CRD (Carbonate Replacement Deposit) base metal mineralization. The Company owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/691035/Sky-Gold-Plans-2022-Exploration-Activities-on-the-Mustang-Property-Newfoundland
$CRVSF $CRVC.v Cross River Ventures Announces Drill Mobilization at the McVicar Gold Project, NW Ontario
Drill Targets Gold Ontario
CSE: $CRVC
http://www.crossriverventures.com
Mr. Alex Klenman reports:
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2022) - Cross River Ventures Corp. (CSE: $CRVC) (OTCQB: $CSRVF) (FSE: C6R) (the "Company") is pleased to report that two diamond drill rigs have been mobilized to the Company's 12,000-hecatre McVicar Gold Project, located in northwestern Ontario, Canada.
Crews have been on site over the last two weeks preparing the McVicar Camp, an exploration drill camp located along kilometer 125 of the Cat Lake Winter Road, in Northern Ontario, approximately 150 km east of Red Lake, and 80 km west of Pickle Lake.
The McVicar gold project is situated in the Superior Province of northern Ontario, Canada. The greenstone belts within the Superior Province contain some of the largest economic gold deposits in the world. McVicar encompasses the geologically significant structural components of the Lang Lake greenstone belt (see Figure 1 below), an underexplored belt located approximately 40 km north of the historic Golden Patricia Mine (619,796 oz at 15.2 g/t Au)*.
Cross River Ventures has initiated a planned 5,000-meter diamond drill program at McVicar, designed to test the Altered Zone and Bear Head Trend, two of several gold target zones on the property. Diamond drilling will be conducted by Major Drilling utilizing two Duralite 1000N Fly configuration diamond drill rigs. Drilling will commence shortly with two rigs focused on the Altered Zone (Target 2, Figure 2) and conclude with both drill rigs in the Bear Head Trend (Target 1, Figure 2).
"After conducting a methodical, detailed exploration approach at McVicar over the last year the technical team has identified several priority drill targets. We're excited to begin drilling and move project development forward in a meaningful way," said CEO, Alex Klenman. "This round of exploration drilling will build on historical drill intercepts at the Altered Zone, where we intend to drill test along strike, down-dip and down-plunge gold targets."
"In addition to the Altered Zone target, we're also conducting a maiden drill program at the newly discovered 700-meter long Bear Head gold trend, where surface sampling recently returned assay values up to 19.75 grams-per-tonne gold. McVicar is large, it's extensive, and is full of favorable geology, historic occurrences, and multiple target zones. It's exciting to begin drilling our flagship project," continued Mr. Klenman.
About The Altered Zone
The Altered Zone is a complex zone of deformation and intense alteration composed of sheared mafic volcanics, abundant green mica, intermediate intrusive rocks, massive to semi-massive quartz, and a quartz-carbonate-sericite schist.
New geologic modelling by Cross River in 2021 utilizes historic drilling data and suggests that the high-grade gold bearing structure continues at depth, coincident with lithologic breaks and a broader damage zone corridor characterized by an intense hydrothermal alteration overprint. The gold bearing structure at the Altered Zone is open in all directions. The upcoming drill program is designed to test the gold grade and continuity of the structure along strike, down-dip, and down-plunge. The program and will also test for new high-grade gold shoots at several locations along the broader Altered Zone structural trend.
About The Bear Head Trend
Cross River Ventures field crews discovered the Bear Head Trend during the summer 2021 fieldwork. It is located approximately 600 meters south of the historic Chellow Vein at the southern contact between mafic volcanics and granite along the Bear Head Fault Zone (Figure 1). This geological environment is considered prospective for Archean greenstone gold deposits and contains favorable structural and lithological sites for gold deposition.
The Bear Head Trend is an undrilled, minimum 700m, high-grade gold corridor that is nested within a WNW trending multi-km braided damage zone structure. Key samples collected in 2021 include sheared and silicified mafic metavolcanic rocks with 1-10cm wide smoky blue quartz veins which returned gold values of 19.75 grams-per-tonne ("g/t") gold ("Au") and 1.415 g/t Au (News Release October 5th, 2021) .
About the McVicar Project
Cross River's McVicar Gold Project is a district-scale (approximately 12,000 hectares) gold exploration project that contains gold prospective structure and host rocks that transect the entire Lang Lake greenstone belt, located in the Patricia Mining Division, approximately 150 km east of Red Lake, and 80 km west of Pickle Lake, in NW Ontario, Canada.
The McVicar project covers all the major fertile structural and lithostratigraphic elements of the greenstone belt, which is bound to the south by the major NW trending Bear Head Fault zone (within which the historic Golden Patricia Mine is situated).
Historic drilling at McVicar Lake in the Altered and North Flexure Zones include:
6.46 g/t Au over 10.09 m including 29.86 g/t Au over 1.86 metersi
5.5 g/t Au over 3.6 m including 12.2 g/t Au over 0.98 metersii
The McVicar Lake claims also host the Chellow Vein zone, which is a narrow quartz vein that consists of smoky grey to white quartz mineralized with minor pyrite and visible gold. The vein system yielded high grade gold at surface including grab samplesiii that assayed 827.4 g/t Au and 578.1 g/t Auiv.
The 2022 winter drill program is fully funded, and the Company has received all relevant permits.
Junior Mining NetworkFigure 1: McVicar Gold Project, location of nearby deposits and historical mines, NW Ontario
Junior Mining NetworkFigure 2: Drill target zones, winter 2022 drill program, McVicar Gold Project, NW Ontario
Qualified Person
Daniel MacNeil, P.Geo., M.Sc., a Qualified Person as defined under National Instrument 43-101, reviewed, and approved the technical content disclosed in this press release. Historical assay results contained in this press release were not verified by the Company. However, the historical reports referenced were authored by experienced geoscientists and copies of laboratory assay sheets were commonly inserted in the reports.
About Cross River Ventures
Cross River is a gold exploration company focused on the development of top tier exploration properties located in emerging Greenstone Districts of NW Ontario, Canada. The Company controls a 28,000-ha, multiple project portfolio with highly prospective ground in and among prolific, gold bearing greenstone belts. Cross River's common shares trade in Canada under the symbol "CRVC" on the CSE, and in the US under the symbol "CSRVF" on the OTCQB. Please visit www.crossriverventures.com for more information.
On behalf of the Board of Directors of
CROSS RIVER VENTURES CORP.
Alex Klenman
CEO
604-227-6610
aklenman@crossriverventures.com
www.crossriverventures.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Canadian Securities Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
*https://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52O06SE00005.html
i McKay D.B, 2004. Report on the 2003 Overburden Stripping, Geologic Mapping and Sampling Program conducted on the McVicar Lake Property: Continuum Resources Ltd and Prospector Consolidated Resources Inc. www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/52O11SW2003/52O11SW2003.pdf
ii McKay D.B, 2004. Report on the 2003 Overburden Stripping, Geologic Mapping and Sampling Program conducted on the McVicar Lake Property: Continuum Resources Ltd and Prospector Consolidated Resources Inc. www.geologyontario.mndm.gov.on.ca/mndmfiles/afri/data/imaging/52O11SW2003/52O11SW2003.pdf
iii Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.
iv Waldie C.J. Report of Diamond Drilling McVicar Lake Area Patricia Mining Division: BHP Minerals Canada Ltd.
ILI.v $ARXRF Weekly TA,
Appears to be breaking out of the declining wedge ...ACC/DIS finally breaking in our favour , longer term indicators like PMO and KST still on buy signals, macd crossing signal crossing into buy territory well above the zero line https://schrts.co/bNNCGmeI
ILI.v $ARXRF Infinite Ore to Change Name to Imagine Lithium Reflecting Focus on Lithium Exploration
by @newsfile on 26 Jan 2022, 04:00
Vancouver, British Columbia--(Newsfile Corp. - January 26, 2022) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) ("ILI" or the "Company") announces that effective Tuesday, February 1, 2022, the Company's name will be changed to "Imagine Lithium Inc." to better reflect its focused business strategy.
The Company's common shares will trade on the TSX Venture Exchange under its existing ticker symbol "ILI". There will be no changes to the Company's share structure. The company is currently rebranding its website and supporting marketing materials and expects to unveil its new corporate brand identity on February 1, 2022 in tandem with the name change.
About Imagine Lithium Inc.
Imagine Lithium Inc is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: +1-604-683-3995
Toll Free: +1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111717
SKYG.v $SRKZF Recent Struthers Resource Report fyi...SkyGold CSE: $SKYG Recent Price - $0.08 Entry Price - $0.17 Opinion – buy, average down to $0.12 Although $SKYG has a great property position close to New Found Gold, their first round of drilling did not hit any high grade at the Mustang property but did hit 32.85 meters of 0.78 g/t gold. They had some higher grade hits like 7 g/t and 5 g/t but only over 0.5 meters. Results were encouraging for a 1st round drill program. At their Evening Star property in Nevada, they completed one hole and drilling was suspending due to Covid19 issues. Drilling resumed early November and assays are pending for this drilling. Perhaps the best news is they got just over 6 million, 10 cent warrants extended with an expiry date of December 23, 2023, they originally expired December 23, 2021. Most likely the stock is going to be moved up to exercise these warrants, maybe with drill news? Besides these warrants, the stock chart looks really good. A bottom is in and not much resistance to go higher. Copyright 2022, Struther's Resource Stock Report
WHN.v $WTHVF Stockwatch Gold Summary for Jan. 10, 2022
2022-01-10 19:00 ET - Market Summary
by Stockwatch Business Reporter
Speaking of resource estimates, Gareth Thomas's Westhaven Gold Corp. ( $WHN ) jumped 6.5 cents to 48.5 cents on 156,000 shares on the heels of a maiden resource estimate for the South zone at the Shovelnose project, near Merritt in British Columbia. The calculation lists 10.59 million tonnes indicated at 2.32 grams of gold and 11.43 grams of silver per tonne, plus 9.18 million tonnes inferred at 0.99 gram of gold and 3.47 grams of silver per tonne -- a total of 1.05 million ounces of gold and 4.9 million ounces of silver.
Mr. Thomas, president and CEO, was "pleased to report a starting inventory of over a million ounces of gold from the first of multiple mineralized zones" at Shovelnose. An expansion and exploration drill program will begin shortly, he says, work that will focus on the FMN zone where high-grade mineralization was intersected last year. That hit, completed last spring, saw a 15.97-metre interval return an average of 9.15 grams of gold and 27.43 grams of silver per tonne.
As well, enthuses Mr. Thomas, targeting new discoveries on undrilled exploration targets within the large, underexplored property will also remain a "key focus" going forward at Shovelnose -- a claim that would seemingly relegate the company's unqualified focus on FMN to one of lesser importance. (In the dialect of promoterese spoken along Howe Street, the frequency of puffy adjectives is often indirectly proportional to the merits of the prospect.)
WHN.v $WTHVF Red Cloud buy rating (Trading at .45 at the time of rating)
Valuation:
We maintain a BUY rating and target price of C$1.15 target. Our target
price is based on 0.8x our sum-of-parts derived NAVPS estimate of C$1.40
(unchanged). We note that the company currently trades at a discount
to peers on an EV basis at $46M (peers at $297M). It also trades at 0.30x
NAV versus peers at 0.45x. We believe there is significant potential for the
stock to re-rate with ongoing positive drill results and a maiden resource.
Upcoming Catalysts: 1) Shovelnose drill results (ongoing), 2) South Zone
maiden resource (Q4/21-early 2022), and 3) Metallurgical work (Q4/21).
ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for Dec. 17, 2021
2021-12-17 18:38 ET - Market Summary
by Will Purcell
J.C. St-Amour's Infinite Ore Corp. (ILI) fell 1.5 cents to 13.5 cents on 5.1 million shares on word that it has a finite number -- three -- of targets identified as "zones of interest" on its Jackpot lithium project, near Nipigon in Northwestern Ontario. These features, enthuses Mr. St-Amour, president, "demonstrate the expansion potential" of the project. "We are convinced that [the] pegmatites have the same source, increasing the potential for resource expansion," he cheers, adding that the company is looking forward to drilling as early as possible next year.
This new drilling would follow 15 holes completed in 2018, tests that yielded assays as high as 2.47 per cent lithium oxide over 7.23 metres and 3.02 per cent over five metres. The tests averaged 1.28 per cent lithium oxide over intervals that varied from one to 10.65 metres. Those numbers were encouraging, as a historical resource on the property, prepared in the mid-1950s, listed a far-from-infinite two million tonnes at an average of 1.09 per cent lithium oxide. The new drilling is being designed to expand that resource -- and presumably make it compliant. As well, Mr. St-Amour will be chasing newly discovered areas with his drills.
ILI.v $ARXRF Infinite Ore Finds Additional Lithium Targets on Jackpot Project
by @newsfile on 16 Dec 2021, 04:30
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Infinite") is pleased to announce that recent channel sampling has identified at least three zones of interest containing spodumene-bearing granitic pegmatites with lithium values matching those of the historical resource area and that demonstrate the expansion potential of the Jackpot lithium project.
Zone 1 is an extension of a previously drilled outcrop and returned channel results of 1.27% Li2O over 4.5 m, 1.32 over 4.0 m, 1.69 Li2O over 6.5 m, respectively.
Zone 2 is approximately 200 m ENE along strike of the pegmatite dykes drilled in 2018 and yield concentrations 1.37 Li2O % over 3.0 m and 0.76 % Li2O over 8.5 m. This zone indicates the potential for the Jackpot dykes to extend to a length of at least 900 m.
Zone 3, approximately 280 m to the north of the previous zone, returned 1.3 % Li2O over 12 m. Infinite is planning an extensive drill program for 2022 expecting to begin this winter. The main objective is to expand the historical resources by drilling beyond the 2018 drill campaign area as well as test the new zones.
In 2022, the Company will also test the zones of interest located on the newly acquired claims approximately 1.1-1.3 km to the WSW of the known Jackpot dykes with a goal of potentially linking these to the resource area. The newly acquired claims expose several outcrops of spodumene-bearing granitic pegmatite dykes that produced Li2O values ranging from 2.29 to 7.08 % (see the company's December 13th, 2021 press release).
Table 1: Selected Channel Sample Assay Results, Jackpot property
Channel no. No. of Samples Li2O (wt. %) Length (m) Comment
002 5 1.27 4.50 Zone 1
004 4 1.32 4.00 Zone 1
005 7 1.69 6.50 Zone 1
022 3 1.27 2.50 Zone 1
023 9 0.76 8.50 Zone 2
024 3 1.37 3.00 Zone 2
029 12 1.30 12.00 Zone 3
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2962/107823_c8fec7ebb4cd0b99_002.jpg
Figure 1 Location of the Jackpot Dykes and Zones of Interest
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2962/107823_c8fec7ebb4cd0b99_002full.jpg
J.C. St-Amour, President of Infinite Ore commented, "Based on field observations during the 2021 field program and the recent assay results, we are convinced that pegmatites have the same source, increasing the potential for resource expansion. We look forward to drilling the project as early in 2022 as possible to expand on the 2018 drill program and to test newly discovered areas."
About Jackpot
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dykes, two of which providing estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest in a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107823
ILI.v $ARXRF Infinite Ore Signs Definitive Agreement to sell Interest in Eastern Vision Project in Red Lake
by @newsfile on 15 Dec 2021, 04:00
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2021) - Infinite Ore Corp. (TSXV: ILI) (OTCQB: ARXRF) (the "Company" or "Infinite") announced today that, further to its news release dated July 19, 2021, it has signed a definitive agreement (the "Definitive Agreement") with Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium") whereby Trillium will acquire all of Infinite's property holdings known as the Eastern Vision Project located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt in the Red Lake District, Ontario (the "Transaction").
The Definitive Agreement provides that Trillium would issue 4,000,000 common shares of Trillium and pay $175,000 in cash to Infinite. In addition, Trillium would assume all of Infinite's cash payment commitments under its existing option agreements. Infinite would retain its share issuance obligations. The Eastern Vision project includes the Fredart, Garnet Lake, Confederation North, and Confederation South properties; Trillium would hold greater than 100 km of favourable structure on trend with Great Bear Resources' Dixie Deposit.
Figure 1 Trillum Gold's Property Holdings
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2962/107683_11a27938b4ed1977_002.jpg
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2962/107683_11a27938b4ed1977_002full.jpg
J.C. St-Amour, President of Infinite Ore commented, "The Transaction gives Infinite, through its share ownership in Trillium, exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area. This also allows us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. Infinite is preparing a winter drilling program that would focus on resource expansion."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing granitic pegmatite dykes, two of which providing estimated historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently acquired additional claims with additional lithium showings located on strike to the main historical resources.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of NI-43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company holds the Jackpot lithium property located near Nipigon, Ont., which contains known pegmatite showings including two historical resources of 2 million tons grading 1.09% Li2O and 750,000 tons at 1.38% Li2O. In addition, the company holds an interest a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107683
BARU.v $BARUF Reconnaissance Mapping Defines Potential New Exploration Targets on Sangihe
by @thenewswire on 22 Sep 2021, 06:30
(TheNewswire)
Vancouver, BC - TheNewswire - September 22, 2021 - Baru Gold Corp (“Baru” or the "Company”) (TSXV:BARU) (OTC:BARUF) has, during the past month on Sangihe, undertaken reconnaissance mapping and sampling prior to the commencement of the Resource Development drilling program. This effort has identified four new prospects which could become future exploration drilling targets should the samples taken from these prospects return positive assay results.
The four new prospects are known as Darelupang, West Bawone, Southwest Bawone and South Salurang.
- The Darelupang prospect is located 300 metres west of the Binebase 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a sheeted quartz vein zone of 1.2 metres width within a volcanic breccia host rock. Textures that are visible on individual veins within this zone are vuggy, zoning, and colloform bending.
- The West Bawone prospect is located 300 metres west of the Bawone 2021 Resource Development Drilling holes. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide hydrothermal breccia with chloritic and hematitic alteration within a volcanic breccia host rock. The hydrothermal breccia has a chalcedonic-silica ground mass.
- The South Salurang prospect is located 100 metres south of the current exploration drilling program planned from Bawone to South of Salurang village and southeast of the outskirts of Salurang village. It is defined as high sulphidation (HS) silica-alunite system composed of a 1 metre wide oxidized sheeted-stockwork zone with a density of 10 veinlets/ metre. The veinlets with the stockwork zone have a brecciated texture. At a separate location in the South Salurang was an outcrop of oxidized vuggy silica rock with a width of 1.5 metres which consists of a brecciated and vuggy texture.
- The Southwest Bawone prospect is located 1,100 metres southwest of the Bawone 2021 Resource Development Drilling holes. It is defined as a low sulphidation (LS) vein system composed of a hydrothermal breccia of 1 metre width with hematitic alteration within a volcanic breccia host rock. Also sampled at the Southwest Bawone prospect was a brecciated green silica vein with hematitic alteration on the clasts, colloform bending of the veinlets and a chloritic ground mass as shown in Figure 1.
Click Image To View Full Size
Figure 1. Brecciated green silica vein from Southwest Bawone prospect.
All outcrops encountered in these four new prospects have been mapped with grab and channel samples and have been submitted to the Intertek Laboratory in Jakarta for assay analysis.
Frank Rocca, Chief Geologist of Baru Gold, commented, “All of these new prospects are very exciting as none are included in the resources covered in the Sangihe 2010 NI 43-101 report which identified 835,000 ounces of gold as inferred resources; and so, with further exploration, these resources have the potential to be expanded significantly. Also important to note, as with the area Baru will soon begin production on, the newly explored areas will not require the relocation of any homes or villages.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in late 2021/early 2022.
Note: The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance, or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance, or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
GLM.ca $GOLXF Golden Lake Samples Return Up to 9,920 g/t Silver in Grab Samples Returned From West Copperview Property Adjacent to Kodiak Copper Corp.’s MPD Property
by @accesswire on 9 Sep 2021, 05:00
VANCOUVER, BC / ACCESSWIRE / September 9, 2021 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("GLM" or the "Company") is pleased to announce initial results from samples taken at its Copperview Property, located in BC and contiguous to the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (KDK). Recently collected surface grab subcrop samples from the Deadman Lake target, on the West Copperview claims, have returned high grade silver values of up to 9,920 grams per tonne silver (g/t Ag) and 5,900 g/t Ag. These samples correspondingly returned 0.95 percent copper (% Cu), 2.45 percent lead (% Pb), and 1.28 percent zinc (% Zn) and 0.94%Cu, 4.33% Pb, and 1.82% Zn.
The above two grab samples represent subcrop material, were taken from old, partially collapsed bulldozer trenches that most likely represent the Mob-8 Minfile showing (Minfile 092HNE154, BC government designation). A total of 57 rock samples were taken over the Deadman Lake area of the West Copperview claims. In addition, 230 soil samples were taken over the same area, with assay results pending.
The Mob 8 showing is exposed in the vicinity of a gas pipeline, 520 metres north of the north end of Prosser Lake and 7.8 kilometres southwest of Missezula Lake. A west-striking shear zone, dipping 25 degrees south, cuts granite and quartz monzonite of the Late Triassic to Early Jurassic Allison Lake pluton. The zone is 2 metres wide and contains small quartz-carbonate lenses accompanied by pyrite, galena, argentite, azurite, malachite, chalcopyrite and tetrahedrite. A selected grab sample assayed trace gold, 25,852 grams per tonne silver (g/t Ag) and 8.06 per cent copper (% Cu)* (Assessment Report 5082, page 5). A chip sample across the shear zone analyzed 145.9 g/t Ag, 0.04 % Cu, 0.630 per cent lead (% Pb) and 0.41 per cent zinc (% Zn)* (Assessment Report 13603, page 6)….A quartz vein, 5 to 15 centimetres wide, is developed in the hanging wall of the shear zone. It strikes north and dips steeply west. The vein is mineralized with galena, chalcopyrite, chalcocite and malachite. A sample analyzed 858.2 g/t Ag, 0.862 % Cu, 2.589% Pb, and 1.473 % Zn * (Assessment Report 13603, page 6).
Chalcopyrite and pyrite occur in dark, fine-grained diorite 90 metres west and 120 metres east of the shear zone. One hundred and twenty metres to the north, chalcopyrite and bornite occur in epidote-filled fractures."
Figure 1. Location map of the MOB - 8 Showing and MT Mobile Geophysical Survey
The reader is cautioned that grab rock samples while not representative of the grade of mineralization of an occurrence or target, they are useful in determining prospectivity and geological features. The above rock samples were taken by personnel of Exploration Facilitation Unlimited Inc. and were delivered by the company's project manager to ALS Labs' facility in North Vancouver, B.C. All samples are analyzed for copper, gold, silver and 31 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an atomic absorption spectroscopy finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61, which is a four-acid digestion and inductively coupled plasma atomic emission spectroscopy assay. Golden Lake is reliant on ALS in North Vancouver, for its quality assurance/quality control protocol, as these are preliminary samples and limited in number.
Sample R-2242 comprised gossan material (baked appearance), with significant green and blue malachite oxide and thinly layered sulphides, and large quartz crystals and quartz vein material. Sample R-2243 comprised diorite gossan, with malachite and sulphides observed.
SAMPLE R-2242
Mike England, president of Golden Lake, states: "We have remained very active advancing our programs and defining targets on our Copperview properties in this emerging copper-gold porphyry district. The discovery of a high-grade silver showing, and multiple geophysical and geochemistry anomalies represent strong drill targets for the Company when permitting is completed."
The Company will be returning to the location of samples R-2242 and R-2243 with field crews in late September to conduct additional hand trenching, geological mapping, sampling and prospecting with a portable XRF instrument. Efforts will also focus on the rediscovery of three other Minfile showings in the Deadman Lake Area.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
Qualified Person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/663293/Golden-Lake-Samples-Return-Up-to-9920-gt-Silver-in-Grab-Samples-Returned-From-West-Copperview-Property-Adjacent-to-Kodiak-Copper-Corps-MPD-Property
BARU.v $BARUF Baru Gold Acquires Majority of Phase One Targeted Land Acquisition
by @thenewswire on 7 Sep 2021, 06:30
(TheNewswire)
September 7, 2021 - TheNewswire - Vancouver, BC - Baru Gold Corp (“Baru”) or the (“Company”) (TSXV:BARU) (OTC:BARUF) is excited to announce it has acquired the majority of the Phase One land targeted to start the initial mining production process per the mining plan previously announced in the news release on April 21st, 2021 - Land Acquisition Process.
A majority of the Phase One land acquisition has been secured and the acquisition of the remaining hectares is expected to be completed over the next 30 days. The initial land to be acquired is more than sufficient for the first phase of the operational plan. The processing operations will start with two heap leach pads. The Company is pleased to achieve this major milestone while navigating the delays and shutdowns associated with the latest impact of COVID-19.
Baru is equally proud of the relationships it has built with the local residents, who are fully supportive of the Company’s initiatives, including the jobs and business opportunities being created on the island. They welcome a fully engineered mining operation that has the full support of the federal government.
The Sangihe Gold project is fully compliant with Indonesia’s stringent environmental regulations (“AMDAL”) and has been issued a federally approved Contract of Work which is valid until 2051, and holds a granted mining permit.
Construction of the mine operation is soon to commence while the Company awaits the arrival of key staff and equipment onto Sangihe Island.
Note: The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (TMS). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORP.
Baru Gold Corporation (formerly East Asia Minerals Corporation) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. The Company has received the approval for the upgrade of its licence to advance the project to construction and production in late 2021/early 2022.
Baru intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boast extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholders support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals.
Qualified Person
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
« Arizona Gold and Golden Predator Announce Consolidation of Near-Term Gold Production in North America
https://www.globenewswire.com/news-release/2021/06/28/2254317/0/en/Arizona-Gold-and-Golden-Predator-Announce-Consolidation-of-Near-Term-Gold-Production-in-North-America.html
https://www.arizona-gold.com/arizona/AZG-GPY_Merger_Presentation.pdf
Transaction Rationale
Combination of two past-producing mines in North America to be restarted sequentially
Significant resource base in tandem with a combined 1.1M oz Au M&I plus an additional 1.5M oz Au Inferred
Abundant exploration upside in historic brownfields districts
Improved balance sheet and capital markets scale to enhance investor visibility and broaden shareholder base
Experienced leadership team led by Giulio Bonifacio as CEO, John Galassini as COO and William Sheriff as Non- Executive Chair
WHN.v $WTHVF Globe says Silvercorp, Westhaven get new coverage
2021-06-23 08:17 ET - In the News
Also In the News (C- $WHN ) Westhaven Gold Corp
The Globe and Mail reports in its Wednesday, June 23, edition that Raymond James analyst Craig Stanley began coverage on two Canadian mining stocks on Tuesday. The Globe's David Leeder writes in the Eye On Equities column that Mr. Stanley calls Silvercorp Metal ($7.02) a "free cash flow machine." He notes that he likes Silvercorp Metal's consistent dividend payout. Mr. Stanley rates Silvercorp Metals "market perform" and targets the shares at 8.75. Analysts on average target Silvercorp Metals shares at $9.63. Mr. Stanley gave Westhaven Gold (65 cents) an "outperform" rating with a $1.10 share target. Mr. Stanley is currently the lone analyst covering the Vancouver-based company, which is focused on its 100-per-cent-owned Bridge Group Belt properties in south central British Columbia. The Globe reported on Sept. 16, 2020, that Canaccord Genuity analyst Dalton Baretto rated Silvercorp "hold" in new coverage, when it was worth $11.19. The Globe reported on Jan. 15, 2021, that Mr. Baretto boosted his rating to "buy." The shares could then be had for $7.24.
Northern Dynasty Minerals $NAK 4.5 billion tonnes in the Inferred category at a grade of 0.25% #copper, 0.25 g/t gold, 226 ppm #molybdenum and 1.2 g/t silver, containing 25 billion lbs of copper, 36 million oz of #gold 2.2 billion lbs of #molybdenum and 170 million oz of #silver
$NAK Northern Dynasty Minerals The Pebble Mine contains billions of pounds of rare earth elements. It is rich in two important rare minerals—palladium and rhenium, containing enough rhenium to supply the entire world’s needs for nearly half a century
$NAK Northern Dynasty Minerals
NEWFOUNDLAND’S AREA GOLD PLAY:
A 21ST CENTURY KLONDIKE GOLD RUSH ANALOG?http://321gold.com/editorials/newfoundland/klondike.pdf
Look what I found and check out who the Acquiring Company is. The Quest goes on! https://pitchbook.com/profiles/company/54179-74#overview
SKYG.v $SRKZF Sky Gold Highlights Gold in Soil Geochemical Anomalies on the Mustang Property, Newfoundland
by @accesswire on 2 Jun 2021, 05:00
VANCOUVER, BC / ACCESSWIRE / June 2, 2021 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") reports on the identification of several new gold-in-soil geochemical anomalies in the northern and western portions of the Mustang Property, Newfoundland. The Company plans to follow up these anomalies with diamond drilling and intends to drill possible extensions of interpreted structural trends identified on the contiguous Mt. Peyton project, owned by Exploits Discovery Corp. ("NFLD").
"We are excited to have such a strong geochemical signature along the border with Exploits in the same area they have high priority drill targets now being tested." stated Mike England, CEO of Sky Gold. "We are also encouraged with the identification of other new gold targets at Mustang that will be further investigated to define potential drill targets later in the summer."
Target area highlights include:
North Woodman Pond Target - Covering an area of 2,000 by 750 metres, this target includes the highest gold-in-soil values received to date of 55 parts per billion gold ("ppb" Au), with highly anomalous arsenic (As) at 87 parts per million ("ppm"). This target is flanked on both sides by the Schooner Fault and offset structures, as identified on NFLD's contiguous Mt. Peyton project, where NFLD has recently announced (see news release dated May 27th, 2021) plans to drill approximately 3,000 m in twelve HQ-diameter diamond drill holes. The Schooner Fault represents a sub-parallel trending fault system, identified by GoldSpot Discoveries Corp. (SPOT) for NFLD, located approximately 3.5 km west of the known gold bearing Appleton Fault that hosts New Found Gold's Keats, Lotto, and Knob Zone gold discoveries.
West Targets - Comprises multiple gold-in-soil anomalies with values up 54 ppb Au, 194 ppm As, and anomalous lead (Pb), and antimony (Sb) over an area measuring approximately 1,000 metres x 600 metres oriented in a NE-SW direction, paralleling the interpreted Dog Bay Line regional structure. The soil anomalies are located east of the Jasperoid and Barite Showings. Rock grab sampling (six samples) in 2012 on the Jasperoid Showing ranged from 26 ppb to 1071 ppb Au (Assessment Report 002D/15/0865 - M. Quinlan, Owner, September 2012). Earlier sampling in 2004 returned up to 940 ppb Au (Assessment Report 002D/15/0865 - M. Quinlan, Owner, September 2012). The Barite showing in 2012 (six samples) returned up to 940 ppb Au in grab samples. Other anomalous elements include Pb (ranging from 0.57% to 1.23%), Zinc (Zn) (ranging from 0.30 to 0.57%) and Silver (Ag) (10.2 g/t AG, 26.6 g/t, and 30.0 g/t Ag) were also reported in the 2012 assessment report.
RB (Road Breccia) Target - The RB Target comprises low level gold-in-soil anomalies ranging from 5 to 17 ppb Au, with associated anomalous As values. The anomaly area measures roughly 1,200 metres by 600 metres, in an east-west direction, with anomalous copper (Cu) values being more widespread. Grab rock sampling from the Road Breccia showing sampling in 2012 (10 samples) ranged from 21 to 421 ppb Au.
Soil Geochemistry Survey Details
Soil sampling recently completed by Sky Gold comprised 445 samples collected across three sample grids. All grids were oriented 315o-135o and varied from 100 m (13 lines), to 350 m (5 lines) to 400 m (five lines) line spacing. Sample processing and assays were completed by Eastern Analytical Labs of Springdale, Newfoundland. The minus-80 mesh fractions of the samples were analyzed by Fire Assay for Au, and Induction-Coupled Plasma optical emission analysis (ICP-OES), after four-acid (HCl/HNO3/HClO4/HF) digestion for Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, In, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Se, Sn, Sr, Ti, U, V, W, Zn and Zr.
The Company also owns the Virginia property in Newfoundland, located contiguous to the southern margin of Labrador Gold Corp.'s Kingsway property where drilling is active on the Big Vein target. The Virginia property has received all necessary permits for its maiden diamond drill program planned for this summer.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, and Independent Director of Sky Gold, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Mustang and Virginia properties.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM)
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/650053/Sky-Gold-Highlights-Gold-in-Soil-Geochemical-Anomalies-on-the-Mustang-Property-Newfoundland
Gold, Silver, copper and other metals looking good ..
$EEENF has $14.85 Million in cash
https://finance.yahoo.com/quote/EEENF/key-statistics?p=EEENF
$We can take our production to 400,000 oz a year fairly easily” -
$Gran Colombia Gold TPRFF (GCM.TSE)
13,523 views•Mar 29, 2021
BARU.v $BARUF Baru Gold Corp Provides Update on Land Acquisition Process
by @thenewswire on 21 Apr 2021, 06:30
(TheNewswire)
April 21, 2021 – TheNewswire - Vancouver, B.C. - Baru Gold Corp (“Baru Gold” or the “Company”) (TSXV:BARU) | (OTC:BARUF) is pleased to provide an update on the land acquisition process and various meetings with stakeholders on the Sangihe gold project.
SOCIALIZATION MEETINGS COMPLETED
Socialization meetings took place between March 22nd and March 24th of this year. The meetings were well attended with over 131 attendees participating, mostly in person and others virtually.
The purpose of the socialization meetings was to present to local landowners and stakeholders the Company’s near-term plans for the project, and the compensation being offered for the land. With the support of officials and other stakeholders present, the Company reiterated its commitment to operate in full compliance with international health and safety standards.
Speaking at the meeting in support of the project were the Sangihe Island Bupati (Sangihe Island’s elected Regent), the Chief of Police for the Sangihe Islands District, the Head of the Environmental Agency for Sangihe Islands District and the Head of the Energy and Mineral Resources Office of the Sangihe Islands District. Also in attendance in support of the Company were the Chief of Staff Military District Commander, the Head of sub-district Tabukan Selatan Tengah and the Head of sub-district Tabukan Selatan, as well as the Military Commander of sub-district Tabukan Selatan Tengah, the Chief of Police of sub-district Tabukan Selatan Tengah, and the Bowone Village Mayor.
In the weeks to follow the socialization meetings, the Company held one-on-one meetings with over 100 landowners to answer questions and address concerns.
LAND ACQUISITION UPDATE
A series of events has resulted in over a month-long delay to the land acquisition process. A key member of the land acquisition team tested positive for COVID-19 prior to joining the team on the island and progress could not be made until the team member was cleared to leave quarantine; the socialization meetings, referenced above, were delayed by a week due to evolving COVID-19 regulations which required the Company to unexpectedly apply for an additional permit for the meeting; and landowners were not available to meet with the land acquisition team as many were in observance of the week long Easter holidays. Further, this last Sunday, April 18th, a strong typhoon hit Sangihe Island, traversing to the north of Sangihe through the Philippines, causing telecommunications interruptions, power outages and other infrastructure shutdowns. Cleanup efforts from Typhoon Surigae are ongoing and will likely cause further delays in closing the land acquisitions. The Company is assisting with clean-up on the island by providing labour, equipment and materials.
The Company is disappointed with the many delays experienced over the past few months but expects the land acquisitions to be completed in the coming weeks as there is strong support for the project by island residents and the government.
LICENCE AND AMDAL CLARIFICATION
Currently, Baru Gold holds a licence for production on 42,000 hectares on Sangihe Island. The most recently issued operating licence and AMDAL authorization allows for 100.1 hectares, which is more than sufficient for the launch of the 2021 mine plan. As Sangihe and Baru Gold operations commence and expand further beyond the existing authorization, the Company will update AMDAL and apply for a further expanded area operating licence.
The Company takes its responsibility to ESG seriously. The goal of Baru Gold’s management team, and that of the Company’s stakeholders, is to operate the Sangihe gold mine in a manner that is transparent, legal and ethical, and for the benefit of all parties. The Company encourages stakeholders, investors and local interested parties to forward any inquiries to info@barugold.com or via the Company’s official media channels.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-silver project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been explored. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held through PT. Tambang Mas Sangihe (TMS). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
$NXS.V $NXXGF .04 News.. Nexus Gold to Conduct Reconnaissance Program at the Manzour-Dayere Gold Project, Burkina Faso, West Africa.
Read the full press release here: https://bit.ly/3fXicck
#PreciousMetals #Mining #JuniorMining #TSXV #Gold
SKYG.v $SRKZF Sky Gold Update on Geophysical Surveys for Silver-Rich Targets on The Evening Star Property, Nevada
by @accesswire on 17 Mar 2021, 05:01
VANCOUVER, BC / ACCESSWIRE / March 17, 2021 / Sky Gold Corp. (TSX-V:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to report on two geophysical surveys completed on its Evening Star Property, located in Mineral County, Nevada. The Company awaits assays from the remaining 17 holes drilled at its Mustang Project located in Newfoundland.
The Evening Star property is located 12 kilometers southeast of the town of Hawthorne, and is contiguous to the Pamlico property, owned by Newrange Gold Corp.
The Evening Star property covers two historic, formerly producing mines; the Evening Star mine and the Gold Bug mine, and is prospective for gold, silver, and base metal mineralization in several deposit types. One objective of the recent surveys was to assist the targeting of silver-rich skarn and/or Carbonate Replacement Deposit ("CRD") mineralization encountered in a single diamond drill hole in 1970 (exact collar location unknown) which were reported to have returned the following historic intercepts:
Silver equivalent (Ag Eqv) values are calculated assuming 100-per-cent recovery using $24.00 (U.S) per oz Ag, $3.50 per pound Cu, $0.95 per pound Pb, and $1.25 per pound Zn. The company is disclosing results on a silver equivalent basis due to the overall silver-dominant value of the mineralization. It was confirmed by the geologist on the historic 1970 drill hole that it was not assayed for gold.
The reader is cautioned that these historic drill hole results from 1970 were completed prior to the implementation of National Instrument 43-101 and must be considered only as a historic reference. Neither the Company nor its Qualified Person have completed sufficient work to verify this historic drill hole, and they should not be relied upon.
Magee Geophysical Services based in Reno, Nevada completed a ground magnetic and gravity survey over the northern portion of the Evening Star property with detailed 33-meter line spacing in the target area of the 1970 drill hole. Interpretation and review were completed by Wright Geophysics based in Elko, Nevada. The detailed portion of the ground magnetics and gravity surveys were conducted over 0.4 square kilometers, and the larger survey at 66-meter spacing covered approximately 5.8 square kilometers.
The ground magnetic and gravity surveys were successful in supporting lithological interpretations and defining structures over much of the property. North-south and east-west structural features that traverse the property were indicated. Seven structures were identified as having the same orientation (WNW-ESE) as the La Panta vein, a historic producer of gold. One of these structures traverses the area of historic exploration in the vicinity of the Gold Bug mine, near the projected area of the 1970 drill hole. Figure 1 shows skarn targets as interpreted from the detailed gravity results along with a La Panta parallel structure target.
The Company views this La Panta parallel structure, that extends directly through the Gold Bug mine workings, coincident with a strong magnetic high anomaly, as a priority drill target for silver-rich skarn/CRD mineralization similar to the intercepts cut in the drill hole completed in 1970.
FIGURE 1 (J L Wright, Internal Report 2020) Skarn and La Panta Target Areas over Gravity Vertical Derivative data.
The Company is pleased to announce that EM Strategies has been retained to lead the permitting of a drill program directed at the above targets and additional zones on the federal Bureau of Land Management ("BLM") claims on the Evening Star property. EM Strategies, based in Reno and Elko, specializes in third party and proponent work with the BLM, U.S. Forest Service ("USFS"), and state and county governments to provide permit acquisition and regulatory compliance services. The Evening Star was most recently permitted in May 2017 by the Company.
Qualified Person
Catherine Fitzgerald, P.Geo., a Qualified Person under National Instrument 43-101, and Independent Director of Sky Gold, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Evening Star property.
About Sky Gold Corp.
Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. In addition to the Company's Newfoundland properties, the Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Tel. 1-604-683-3995
Toll Free. 1-888-845-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/635990/Sky-Gold-Update-on-Geophysical-Surveys-for-Silver-Rich-Targets-on-The-Evening-Star-Property-Nevada
Cypress Development very undervalued!!!
WHN.v $WHVTF Westhaven Provides Final Drill Results From Its 2020 Drill Campaign; Provides Update on Current Drill Program at Its Shovelnose Gold Property
by @nasdaq on 12 Mar 2021, 06:00
VANCOUVER, British Columbia, March 12, 2021 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) reports final drill results from its 2020 drill campaign from its 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Highlights:
SN20-145 (FMN): 5.99 metres (m) of 2.36 g/t gold (Au) and 98.42 g/t silver (Ag).
Including: 1.19m of 11.25 g/t Au and 430.00 g/t Ag.
SN20-127 (Franz): 0.58m of 6.05 g/t Au and 148.00 g/t Ag.
Continued intersection of veining at FMN and Franz Zones confirms the vectoring towards stronger mineralization.
Fully funded for 2021 Exploration Program.
Gareth Thomas, President & CEO of Westhaven Gold, states: “Drilling at the FMN Zone has encountered more significant veining. It appears this zone strengthens as drilling continues along strike testing the present 600m gap between the FMN and Franz zones. The current drilling at the FMN Zone is expanding on the narrow but high-grade gold and silver intercepts first drilled in late 2020. In addition, the first two holes completed in the South Zone (SN21-152 and SN21-154) on the southwestern edge of the previous drilling has intersected Vein Zone 1 down dip by an additional 140m from previous drilling (Please see section below). This demonstrates that there is significant potential to increase the size of the South Zone vein system through exploration drilling. This bodes well for the Company as we move towards completing a maiden resource estimate for the South Zone in 2021.”
Peter Fischl, Exploration Manager of Westhaven, adds: “Drilling at Shovelnose in the latter part of 2020 has been primarily focused on testing vein continuity along the 4km strike length of Vein Zone 1, the most significant mineralized structure defined to date on the Shovelnose Gold Project. This program has extended the known vein system northwest into the gap between the FMN and Franz targets and has confirmed the vein system remains open to the northwest at Franz. Vein Zone 1 will continue to be the focus for the coming year, including step out and infill drilling at South Zone. Other targets tested last year, such as the Romeo target, where drilling encountered significant gold pathfinders, remain to be tested further. Prospecting and mapping in 2020 has also drawn attention to several targets within 2km southwest of Vein Zone 1, proximal to the Brookmere showing.”
Table of Recent Results:
Hole ID Target From (m)
To (m)
Int (m)
Au (g/t)
Ag (g/t)
High Au (ppb)
SN20-127 Franz 99.54 103.64 3.64 1.24 33.45 6050
including 100.50 101.08 0.58 6.05 148.00 6050
SN20-131 Franz 288.72 289.41 0.69 1.24 27.24 2520
SN20-132 FMN 147.39 149.40 2.01 0.64 3.56 1140
SN20-135 Franz 86.14 89.39 3.25 0.31 9.72 600
SN20-144 Franz 172.00 175.00 3.00 1.32 25.14 2890
SN20-145 FMN 224.05 230.04 5.99 2.36 98.42 11250
including 227.81 229.00 1.19 11.25 430.00 11250
SN20-147 FMN 166.55 199.00 32.45 0.41 9.86 2490
including 175.70 176.95 1.25 0.93 4.56 942
including 180.95 189.60 8.65 0.94 24.10 2490
and 252.90 255.00 2.10 1.56 12.15 1555
SN20-148 FMN 281.38 298.36 16.38 0.14 16.56 512
*8 of 19 assays reported in the above table. All assays updated and reported in the below link*
Please click the following link to the 2020 drill database table of assay results:
https://www.westhavengold.com/projects/shovelnose-gold/maps/
FMN:
Holes SN20-130, 139, 145, 147 and 148 define an area of quartz veining in Zone 1 that is mineralized with gold and silver over a 200-metre strike length that appears to be rising to the northwest, as seen in hole 147. The drilling from late 2020 now indicates that Zone 1 at FMN has the potential to host gold bearing quartz veining at shallower depths. Such mineralization will be targeted in this year’s drilling.
Franz:
Drilling in 2020 has traced the Franz Zone continuously to the northwest over a strike-length of 650m despite the presence of cross-faults. Vein Zone 1 at Franz remains open to the northwest where a northeast trending normal fault has down dropped and preserved the upper most portion of the vein zone. Hole SN20-124 here intersected a 4.7m wide carbonate rich vein assaying up to 1.51 g/t Au (over 0.62m). This is interpreted to represent the upper most reaches of an epithermal vein system that will be tested down-dip and further along strike to the northwest in the coming weeks.
2021 South Zone Step Out Drilling:
Drilling to date at the South Zone has defined three gold-bearing zones of quartz veining, Vein Zones 1 to 3. A diamond drill is currently focused in the South Zone as the Company moves towards completing a maiden resource for this zone in 2021.
Two step out drill holes have been completed on section 1050 to test for the existence of Vein Zone 1 downdip from previous intercepts, including holes SN19-26 which intercepted 15.46m of 4.80 g/t Au and 61.21 g/t Ag and from SN19-01 which intercepted 12.66m of 39.31 g/t Au and 133.11 g/t Ag. (See plan map and section below). Drillholes SN21-152 and SN21-154 were drilled from the same drill pad located ~55m southwest along section 1050 from hole SN19-26.
SN21-152 intersected Vein Zone 1 from 283m to 307m down-hole that is comprised of sections of banded quartz, adularia, and ginguro including a 3.6-metre quartz breccia vein containing adularia and ginguro. A veinlet section continues from 307m to 348m. Drillhole SN21-154 was drilled at a -60 from the same pad and intercepted Vein Zone 1 from 280m downhole to 387m inclusive of banded quartz-adularia-ginguro bearing veins up to 1.4m wide along core axis. A veinlet zone continues from 387m to 425m downhole including banded pale grey quartz veins and adularia.
Romeo:
Two holes were drilled at Romeo this past year (SN20-133, SN20-140). Both holes encountered significant gold pathfinders (arsenic, antimony, mercury), hosted in mudflow breccias, andesites and epiclastic sediments. Such pathfinders were previously detected at surface in rock and soil samples collected at Romeo. They indicate the potential for a gold-bearing structure to occur in the Romeo target area.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration.
Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavengold.com.
To view the accompanying "ALL ZONES" image, please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5bdaceac-c150-4652-bfd8-cf9df542b7dc
To view the accompanying "FMN AND FRANZ ZONES" image, please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ff4ce39-7cf8-44e8-ab63-39ff13474fba
To view the accompanying "CURRENT SOUTH ZONE STEP OUT DRILLING" image, please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/98eb7311-40d0-4814-826d-0731a92b7e43
To view the accompanying "SOUTH ZONE CROSS-SECTION" image, please visit:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f438e243-0b0b-46aa-9e4c-5338c0772339
Primary Logo
Image 1
ALL ZONES
Image 2
FMN AND FRANZ ZONES
Image 3
CURRENT SOUTH ZONE STEP OUT DRILLING
Image 4
SOUTH ZONE CROSS-SECTION
BARU.v $BARUF Baru Gold Corp Approves 2021 Budget and Approves 35,000 Meters Drilling Program at Sangihe Gold Project
by @thenewswire on 11 Mar 2021, 06:00
(TheNewswire)
March 11, 2021 – TheNewswire - Vancouver, Canada – Baru Gold Corp. (TSXV:BARU) | (OTC:BARUF) is pleased to announce that its Board of Directors has approved the 2021 annual budget which includes a 35,000-metre Resource Development drilling program targeted to start in mid-2021 and run for 13 months until completion. The initial area targeted for this drilling is covered in the Sangihe 2010 NI 43-101 which identified 835,000 ounces gold inferred resource between Binebase and Bawone villages over a distance of approximately 1.2 kilometres. An infill drilling program will be conducted in this area to upgrade some of the inferred resources into indicated and measured resource status. Exploration drilling will continue over an additional 1.45 kilometres from Bawone to South of Salurang villages area over which this anomaly continues. After the initial exploration drilling in this area has been completed, the identified resources will then be infill drilled to bring some of these resources into indicated and measured status as well. Full technical details on the Sangihe land package and reports can be accessed here https://barugold.com/projects/sangihe-gold-project/
Terry Filbert, Chairman and CEO, commented, “This is an extremely exciting year for Baru Gold with the beginning of construction on the Sangihe Gold mine is imminent. With over 42,000 hectares and an initial past NI 43-101 resource of 835,000 ounces of gold, this sizable 35,000 meters program will test new high potential targets and upgrade existing resource to next tier while Baru advances to cashflow.
On operational updates for the last month, our engineering team has been preparing the project site on Sangihe Island. The team is in the midst of land acquisition and will soon begin hiring construction staff. The Company expects to commence production in Q2 of 2021, once construction is complete.
“Once the project is producing gold, the drilling program will start and will be funded out of cashflow. This will enable Baru to expand the project faster, in addition to extending the mine life at the same time. We believe this will be a large resource and will positively affect the Company’s bottom line, with no further dilution to shareholders as the Company will be self-funding.”
The approved budget for the Sangihe Gold Project includes costs for constructing the heap leach pad, developing the mining pit, the building of roads, supporting infrastructure, and hiring staff needed to pour its first gold, targeted for Q3 2021. The Company currently has sufficient funds available to cover all the budgeted and approved expenditures.
Frank Rocca, BAppSc. (Geology), MAusIMM, MAIG, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 10, 2017 by Ian Taylor MAusIMM(CP) and Anthony James Woodward MAusIMM, MAIG filed on SEDAR. Only 10% of the gold-bearing area has been explored. The Company's 70-percent interest in the Sangihe-mineral-tenement contract of work ("CoW") is held in PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation (formerly East Asia Minerals) is positioning itself to become Indonesia’s new gold producer. We are a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producer countries in the world. In 2020, Baru Gold received approval on the environmental permit and became compliant on all government requirements for the Sangihe Gold Project. Baru has received the approval for the upgrade of its licence to advance the project to construction and production in 2021.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs.
Our team of mining and finance professionals are based both in North America and locally in Indonesia and boasts extensive experience in starting and operating small-scale gold and coal assets. With sufficient funds and strong retail and institutional shareholder support, Baru Gold is well positioned to take advantage of the increased interest in gold and precious metals with both exploration upsides and operation cashflow in 2021.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2021 TheNewswire - All rights reserved.
ILI.v $ARXRF Infinite Ore Begins Drilling on Eastern Vision Project
by @accesswire on 11 Mar 2021, 03:00
VANCOUVER, BC / ACCESSWIRE / March 11, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that further to its news release of February 17th, it has begun its 2,500 meter drill program on the Confederation North property within its Eastern Vision Project. The project is located south-east of Red Lake Ontario and east of the high-grade gold discovery of Great Bear Resources Ltd. The program will test gold, copper, and silver anomalies from its recent Spaciotemporal Geochemical Hydrocarbon ("SGH") survey conducted on portions of the Confederation North property (see Figure 1).
J.C. St-Amour, President of Infinite Ore commented, "We are excited to see the drills turning on the Confederation North property and are anxious to see the results. Access to the property and logistics are very good and so I anticipate an efficient drilling program."
Figure 1: Map of SGH anomalies and planned drill holes of the Confederation North property, Eastern Vision Project.
The Company is earning into the Eastern Vision Project which consists of the Fredart, Garnet Lake, Confederation North, and Confederation South properties. Past exploration has focused on VMS targets within the Confederation Lake assemblage near Red Lake, Ontario. The Garnet Lake properties hold 43-101-compliant inferred mineral resources of 2.1 million tonnes grading 5.78% Zn, 0.72% Cu, 19.5 g/t Ag, and 0.6 g/t Au. The Fredart property contains an historical resource of 386,200 tonnes grading 1.56% Cu and 33.6 g/t Ag*.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo, an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/634877/Infinite-Ore-Begins-Drilling-on-Eastern-Vision-Project
Followers
|
153
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
12957
|
Created
|
06/30/08
|
Type
|
Free
|
Moderator Max Power | |||
Assistants FlatEarthSoc |
This is a board where you can discuss information relating to junior miners.
Jr. Mining Resources and Links:
http://www.mindat.org/index.php
Free database site of 1400 companies, over 5700 NI 43-101 reports:
Junior Mining News
http://www.mineweb.com/mineweb/view/mineweb/en/page66
Great Article on Investing in Junior Mining
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30421364
Posts Today
|
0
|
Posts (Total)
|
12957
|
Posters
|
|
Moderator
|
|
Assistants
|
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |