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LeadFX Inc. (IVWFF)

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Riva Resources shares surge on cobalt twin-hole

14:00 03 May 2017

Riva Resources (ASX:RIR) continues to find evidence that historical results will be confirmed at its 100%-owned Tabac Cobalt-Gold Project in Western Australia.

The diamond twin-hole being drilled, TDD001, aims to confirm a historical intersection at Tabac measuring 80 metres at 0.77% cobalt from 170 metres including 10 metres at 1.47% cobalt.

Significantly, new evidence from the core drilled to date supports the presence of a regional scale hydrothermal alteration and mineralising system.

Assay results which are being expedited are expected in mid to late May.

Jonathan King, managing director, commented: “We are encouraged by the weight of geological evidence collected through development of the drill hole, which supports the likely presence of a substantial mineralising system within the target Bubble Well Member.”

TDD001 evidence is compelling

The incomplete diamond drill hole, TDD001, with a current depth of 293 metres, intersected similar stratigraphy to that of the historical 80 metres at 0.77% cobalt hole.

Riva’s interpreted stratigraphy largely correlates with that of the historical owner ACM, yet differs significantly in the geological detail.

In particular, the targeted zone is extensively brecciated, altered, replaced, and mineralised, supporting the likely presence of a substantial mineralising system.

There is potential cobalt mineralisation over a 110 metre width starting from 148 metres depth.

An 11 metre horizon of semi-massive sulphide mineralisation has also been intersected within this 110 metre zone.

Furthermore, there is evidence to suggest that another intersection may also be mineralised.


The preliminary results have certainly been positive and have acted as a share price catalyst with the stock trading up 35% intra-day.

The official assays of this drill hole will be highly anticipated by the market as they look to confirm what the preliminary evidence has suggested.


Riva Resources gears up to drill for cobalt at Tabac


Riva Resources (ASX:RIR) is set to increase news flow as drilling prepares to establish confidence around the potential existence of a large cobalt gold system within the wholly-owned Tabac Cobalt–Gold Project located in Western Australia.

Historical drilling results from the 1980's highlight the existence of cobalt, and included: 80 metres at 0.77% cobalt from 170 metres; and 30 metres at 0.3% cobalt from 358 metres.

Drilling is expected to commence in the week beginning April 10, 2017.

Importance of cobalt

Cobalt is a specialty metal used in rechargeable batteries, specifically in the cathode – its properties allow it to store power for longer.

Due to its potential widespread use in smartphones and the lithium-ion batteries used in Tesla Inc (NASDAQ:TSLA) vehicles, prices have been rapidly rising.

The cobalt price has more than doubled since the end of August 2016 to trade over $US50,000 per tonne recently.

With demand for the metal surging due to major car makers moving into electric and hybrid vehicles, analysts are questioning where the supply will come from.


Should the historical results be repeated or confirmed during the drilling program, the Tabac project has the potential to be globally significant.

Drill results will be highly anticipated by the market, especially given the growing significance of cobalt.

Riva Resources to grow confidence of cobalt potential


Riva Resources (ASX:RIR) is planning drilling to establish confidence around the potential existence of a large cobalt gold system within the Tabac Cobalt–Gold Project located in Western Australia.

Should the historical drilling results be repeated or confirmed during the drilling program scheduled for later this month, the Tabac project has the potential to be globally significant.

10 holes were drilled between 1982 and 1984 with two holes intersecting:

- 80 metres at 0.77% cobalt from 170 metres including 10 metres at 1.47% cobalt and 40 metres at 0.73 g/t gold from 210 metres; and
- 30 metres at 0.3% cobalt from 358 metres including 10 metres at 0.86 g/t gold.

The approach taken by Riva displays the company’s careful and systematic approach to exploration, which is in the best interest of shareholders.

Drill results will be highly anticipated by the market, especially given the growing strategic significance of cobalt.


Riva Resources gains a new substantial shareholder


Riva Resources (ASX:RIR) has received a notice of initial substantial holder from New Age Group Co Limited.

The Hong Kong-based group holds circa 117 million shares for a 15.82% stake.

Last week Riva was granted a second exploration licence at the Tabac Cobalt–Gold Project, located in Western Australia.

Historical drilling results from Tabac include: PP011 80 metres at 0.77% cobalt and 30 metres at 0.3% cobalt.

The granted exploration licenses cover circa 110 square kilometres over the prospective Yerrida Basin.

Riva recently received commitments to raise A$2.2 million in an oversubscribed placement to fund exploration at Tabac.

LeadFX Secures $2M in Funding From Majority Shareholder

Canada NewsWire

TORONTO, Feb. 21, 2017

All dollar amounts are in U.S. dollars unless otherwise indicated.

TORONTO, Feb. 21, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) announced today that it has received a $2 million unsecured, interest-free loan from Sentient Global Resource Fund IV, LP ("Sentient") to help meet its working capital needs.  

Unsecured Promissory Note

Sentient has advanced LeadFX $2 million pursuant to an unsecured, interest-free, promissory note (the "Note"), repayable on June 30, 2017 and on the same terms as the prior promissory notes issued by the Company to Sentient. The interest-free advance by Sentient will enable the Paroo Station Mine ("Paroo Station") to remain in a restart-ready state while the Company works through an appropriate financing solution.  

Rob Scargill, President and CEO said, "We have made significant progress in the past several months with the positive changes to Paroo Station's key operating conditions and we continue to build on that positive momentum. The additional $2M Note from our supportive majority shareholder provides a significant boost to the Company's working capital position and affords additional time to develop a restart strategy that meets the needs of all our stakeholders."

About LeadFX

LeadFX is a Canadian-based mining company focused on the development of lead-silver projects located in stable jurisdictions. Our current portfolio includes a restart-ready lead operation in Western Australia and exploration and development projects in Alaska and Utah, USA. The Company continues to seek opportunities at its new properties in North America to underpin future cash flow and growth. LeadFX trades under the symbol "LFX" on the Toronto Stock Exchange.

Forward-Looking Statements

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Examples of forward-looking information in this news release includes but is not limited to statements and information concerning the closing of the loan with Sentient, receipt of necessary approvals for the issuance of the Note, the intended use of proceeds of the Note, the timing for a decision on restart of the Mine, a potential restart of the Mine, the period of time to ramp-up operations at the Mine following any restart decision, the ability to secure restart financing and future LME lead price outlook. Forward-looking statements are often, but not always, identified by the use of words such as ''seek'', ''anticipate'', ''contemplate'', ''target'', ''believe'', ''plan'', ''estimate'', ''expect'', and ''intend'' and statements that an event or result ''may'', ''will'', ''can'', ''should'', ''could'' or ''might'' occur or be achieved and other similar expressions. Forward-looking information by its nature requires assumptions and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, and readers are cautioned not to place undue reliance on such information. These statements are based upon certain reasonable factors, assumptions and analyses made by management in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. However, whether actual results and developments will conform with management's expectations is subject to a number of risks and uncertainties, including, uneconomic LME lead prices, treatment charges and/or exchange rates; the inability to meet or refinance our commitments to our current lenders; the inability to meet ongoing costs of care and maintenance and other working capital requirements; the inability to secure restart financing; lack of sufficient demand for our lead carbonate concentrate by an offtake party or other customers; and the inability to secure employees and contractors in a timely manner for a restart. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievement may vary materially from those expressed or implied by the forward-looking information contained in this news release. These risk factors should be carefully considered and readers are cautioned not to place undue reliance on forward-looking information, which is current only as of the date of this news release. All subsequent forward-looking information attributable to LeadFX herein is expressly qualified in its entirety by the cautionary statements contained in or referred to herein. LeadFX does not undertake any obligation to release publicly any revisions to this forward-looking information to reflect events or circumstances that occur after the date of this news release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.


LeadFX welcomes Michel Marier to the Board of Directors

Canada NewsWire

TORONTO, Jan. 24, 2017

TORONTO, Jan. 24, 2017 /CNW/ - LeadFX Inc. (the "Company" or "LeadFX") (TSX: LFX) is pleased to announce the appointment of Michel Marier as a Director of the Company's Board of Directors, effective immediately. Mr. Marier is an investment manager with The Sentient Group Limited, an independent private equity investment firm which manages over US$2.7 billion in the global resources industry through the Sentient Global Resource Funds ("Sentient").

"We are delighted to welcome Michel as a Director of LeadFX," said Robert Metcalfe, Chairman of the Board of Directors.  "Michel brings a wealth of knowledge to the Company as an investment manager for Sentient, the Company's majority shareholder. In addition, his experience overseeing strategic mining investments and his financial acumen will be key assets as we set our focus on a possible restart of the Paroo Station Mine."

Mr. Marier joined Sentient in 2009 as an investment manager. Prior to joining Sentient, Mr. Marier worked for several years in the Private Equity division of la Caisse de dépôt et placement du Québec.  Mr. Marier is on the board of directors of 2 public companies and holds a Master's Degree in Finance from HEC Montreal and is also a CFA charterholder. 




Paroo Station Mine


Paroo Station Mine ("Paroo Station" or the "Mine") is located in Western Australia and is the world's largest lead carbonate mine. On January 16, 2015 the mine was placed on care and maintenance amid difficult market conditions.

Paroo Station is 100% owned by Rosslyn Hill, a wholly-owned indirect subsidiary of LEADFX.

On December 17, 2012, Rosslyn Hill Mining entered into a management services agreement ("EMG Management Services Agreement") with Enirgi Metal Group Pty Ltd. ("EMG"), a wholly-owned subsidiary of Enirgi Group Corporation ("Enirgi Group").

Under the EMG Management Services Agreement, EMG will take the leading role in managing the restart of operations at the Mine, including the design of the organizational structure, as well as, responsibility for the day to day management of the operation of Mine following restart. Under the EMG Management Services Agreement, LEADFX expects that EMG will deliver increased technical and operating experience, executive management and economies of scale from being part of a larger group.

 is a Canadian-based mining company focused on the development of lead-silver projects located in stable 
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#53   Riva Resources sees evidence of cobalt in second hole hitpaydirt 05/18/17 06:38:13 PM
#52   Riva Resources drills second hole of highly prospective campaign hitpaydirt 05/08/17 01:13:45 PM
#51   Riva Resources to update on drilling from Tabac hitpaydirt 05/01/17 02:44:11 PM
#50   Riva Resources reveals similarities to broad cobalt hit hitpaydirt 04/26/17 01:43:11 PM
#49   Riva Resources commences drilling at cobalt project hitpaydirt 04/13/17 05:53:29 PM
#48   Another turn of the screw for the London hitpaydirt 03/28/17 05:45:45 PM
#47   Anglo's Billionaire Investor Puts Mining on Cusp of hitpaydirt 03/18/17 10:42:26 PM
#46   Lead Prices Will Trade At $2,800 By Year’s End hitpaydirt 03/18/17 07:26:56 PM
#45   looks like things are starting to happen... news hitpaydirt 03/16/17 03:13:04 PM
#44   LEAD TODAY: Forming potential double bottom support hitpaydirt 03/10/17 01:28:30 PM
#43   LeadFX Secures $2M in Funding From Majority Shareholder hitpaydirt 02/22/17 10:01:07 PM
#42   LeadFX welcomes Michel Marier to the Board of Directors hitpaydirt 01/24/17 06:20:12 PM
#41   LeadFX's Rosslyn signs MOU for Paroo mine farm-in, JV hitpaydirt 12/19/16 07:41:35 PM
#40   Lead Prices Hit A 3-Year High, Did You hitpaydirt 11/30/16 09:26:47 PM
#39   Zinc Rises to Highest Since 2007 as Metals hitpaydirt 11/28/16 11:56:51 AM
#37   Zinc Prices Hit An 8-Year High: Did You hitpaydirt 11/28/16 11:55:24 AM
#36 hitpaydirt 11/28/16 11:51:18 AM
#35   Paroo Station Mine one step closer to restart hitpaydirt 11/28/16 11:49:46 AM
#34   Ivernia Inc. changed to LeadFX Inc. and a Renee 11/17/15 04:07:54 PM
#33   Here we assets and reorg...and God knows hitpaydirt 09/01/15 08:16:22 PM
#32   big volume today...somethings up...keep an eye out... hitpaydirt 07/23/15 07:16:26 PM
#31   Global Lead mine supply exceeded demand by 11 hitpaydirt 05/19/15 07:14:00 PM
#30   sure looks like this bottomed out at a hitpaydirt 04/22/15 10:47:18 AM
#29   more good volume today early. i think this hitpaydirt 04/15/15 12:29:17 PM
#28   well its still early in the day but hitpaydirt 04/10/15 10:55:58 AM
#27   World refined lead metal supply closely balanced with hitpaydirt 03/10/15 10:39:49 AM
#26   Lead prices will improve 'significantly' in H2 2015 hitpaydirt 02/11/15 10:59:35 PM
#25   To think you can own shares in the hitpaydirt 02/05/15 12:17:47 PM
#24   Looking for production cuts? Try lead not copper: hitpaydirt 02/03/15 12:38:37 PM
#23   Lead price outperforms after mine shuts, more closures possible hitpaydirt 02/03/15 12:33:38 PM
#22   Ivernia Announces Move to Care & Maintenance Amid hitpaydirt 02/03/15 12:16:23 PM
#21   This one looks interesting. Stay tuned....... hitpaydirt 02/03/15 10:52:55 AM
#20   Blue, are you still here? bigone 12/24/14 05:15:39 PM
#19   Are you still here Blue? bigone 09/29/14 04:01:18 PM
#18   IVWFF 20% up today ~ Blue ~ 02/22/12 05:04:56 PM
#17   price going up.. i guess the mine will ~ Blue ~ 02/18/12 01:23:08 PM
#16   NEWS: IVWFF Owns Trademark for 'MAGELLAN' mine ~ Blue ~ 02/03/12 06:05:56 PM
#15   The biggest shareholder of IVWFF, Green SEA Resources ~ Blue ~ 02/03/12 05:59:13 PM
#14   95% of shares owned by Institutional investors ~ Blue ~ 02/02/12 05:38:32 PM
#13   IBOX- updated have a look at ~ Blue ~ 02/02/12 05:37:02 PM
#12   IVWFF is the world largest lead mine ~ Blue ~ 02/02/12 05:34:41 PM
#11   55.54% UP >>>>>>>>>>>>>> ~ Blue ~ 02/02/12 05:31:30 PM
#10   31.25% up today ~ Blue ~ 02/02/12 02:51:15 PM
#9   Insiders loading huge ~ Blue ~ 02/02/12 02:44:37 PM
#8   The reproduction will rump up ~ Blue ~ 02/02/12 02:23:18 PM
#7   IVWFF canadian ticker TSX: IVW ~ Blue ~ 02/02/12 02:22:51 PM
#6   the corporate presentation ~ Blue ~ 02/02/12 02:21:58 PM
#5   IVWFF the biggest lead mine in the world ~ Blue ~ 02/02/12 02:21:27 PM
#4   Also BMTI just got FDA approval 9.20 now cleiter1982 05/12/11 09:00:13 PM
#3   Came across Dow news wire "Ivernia Sees 20M cleiter1982 05/12/11 08:57:53 PM