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Camino Announces High-Grade Channel Results of 7 Meters @ 4.3% Copper, 25.5 ppm Silver and 18 meters @ 1.57 % Copper and 11.35 ppm Silver at Los Chapitos in Peru
https://www.accessnewswire.com/newsroom/en/metals-and-mining/camino-announces-high-grade-channel-results-of-7-meters-4.3-copper-25.5-ppm-silve-1040277
Tuesday, 17 June 2025 06:00 AM
VANCOUVER, BC / ACCESS Newswire / June 17, 2025 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF)
Condor Resources Announces Approval of DIA for Cobreorco Project in Peru
https://www.accessnewswire.com/newsroom/en/metals-and-mining/condor-resources-announces-approval-of-dia-for-cobreorco-project-in-peru-1038502
Thursday, 12 June 2025 07:30 AM
VANCOUVER, BC / ACCESS Newswire / June 12, 2025 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to announce that the Declaración de Impacto Ambiental ("DIA") for its Cobreorco project has been approved by the Peruvian Ministry of Energy and Mines ("MEM").
The DIA approval marks a key milestone in advancing the Cobreorco project, which is currently being progressed through the permitting process by a subsidiary of Teck Resources Limited ("Teck"). Condor stands to benefit meaningfully from any exploration success at Cobreorco, which targets gold-copper skarn and porphyry-style mineralization.
In December 2023, Condor entered into an option and joint venture agreement with Teck, on the Cobreorco copper-gold project. Under the agreement, Teck has the option to earn a 55% interest in Cobreorco over three years from the Permit Date by incurring US$4 million in exploration expenditures and making US$500,000 in cash payments. Upon exercising this first option, a dedicated holding company will be formed, after which Teck may further increase its stake to 75% by spending an additional US$6 million in exploration and making further cash payments of US$600,000.
Chris Buncic, President and CEO of Condor, commented, "We are very pleased to have reached this important milestone with Teck. Cobreorco has the potential to deliver substantial value to our shareholders. Projects of this scale and quality are exceedingly rare, and we are only at the beginning of what we believe will be an exciting journey with our partner."
About Condor Resources Inc.
Condor Resources is a precious and base metals exploration company focused on its portfolio of projects in Peru. The Company's flagship project, Pucamayo, is an 85 km2 property containing a high sulfidation epithermal system with disseminated precious metals mineralization with a large lithocap alteration visible at surface. The Huiñac Punta project, a 7,200 Ha property in Huanuco, Peru, has the potential to host a large carbonate replacement style (CRD) silver-dominant polymetallic mineralized body with the potential for discovery of a bulk tonnage silver and base metals deposit. The Company has optioned several large projects to partners who continue to advance these projects. The Company's award-winning exploration team in Peru has a long history of success in discovering and advancing high quality exploration projects and managing the social aspects of its exploration activities.
For more information, please visit the Company's website at www.condorresources.com.
Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.
ON BEHALF OF THE BOARD
Chris Buncic
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements include, but are not limited to the Company's expectations with respect to the use of proceeds raised under the Offering.
Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties, including risks associated with the business of mineral exploration and development; continued availability of capital and financing; general political and economic conditions, fluctuations in metal prices and other market-related risks, including any volatility in the Company's share price, that may cause actual results, performance or developments to differ materially from those contained in such statements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements and forward-looking information. Condor does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Condor Resources Inc.
Priyanka Capital: PROPOSED RTO, $35 MILLION FINANCING & CONSOLIDATION OF THE PECOY COPPER PORPHYRY PROJECT IN SOUTHERN PERU
https://www.newswire.ca/news-releases/proposed-rto-35-million-financing-amp-consolidation-of-the-pecoy-copper-porphyry-project-in-southern-peru-828501809.html
News provided by Pecoy Copper Jun 11, 2025, 07:25 ET
Highlander Silver Commences Drilling at Bonanza Grade San Luis Gold-Silver Project
https://www.accessnewswire.com/newsroom/en/metals-and-mining/highlander-silver-commences-drilling-at-bonanza-grade-san-luis-gold-silver-projec-1036556
Monday, 09 June 2025 06:00 AM
TORONTO, ON / ACCESS Newswire / June 9, 2025 / Highlander Silver Corp. (TSX:HSLV) ("Highlander Silver" or the "Company") is pleased to announce that it has commenced its maiden drilling program targeting recently sampled but previously undrilled high grade mineralization in outcrop at the Bonita vein system located approximately 10 km to the south of the Ayelen deposit at its San Luis gold-silver project in Central Peru.
Mr. Daniel Earle, President and CEO, commented: "It is incredibly exciting to have commenced the first drill program in over a decade on a property that offers an entirely unique proposition this cycle: a bonanza grade resource on the Ayelen vein, surrounded by numerous veins presenting high grades in historic surface sampling results within a large claim package that has seen only limited systematic exploration. On this landmark occasion, we are both profoundly grateful for the support of our community partners and energized to ramp up our community hiring and infrastructure programs alongside our exploration activities."
Figure 1 - Bonita Images
Image on left: platform construction with a silicified ridge that forms part of the Bonita vein system in the background. Image on right: drill rig in operation.
Bonita is an epithermal gold-silver vein system hosted by a package of volcanic rocks situated 10 km south and 700 m lower in elevation than Ayelen. The vein system has been mapped over nearly 800 m of strike length along an exposed ridgeline, with its western flank concealed by overburden and sparse outcrop to the east. A drone-based geophysical survey, a technological breakthrough in high elevation settings, is attempting to map these areas.
Historical results comprise a series of trenches but only two drill holes, including a best result of 3.2 m grading 30.2 g/t Au and 114.8 g/t Ag within a broader interval of 35.3 m at 5.54 g/t Au and 25.43 g/t Ag from 19.1 m downhole in BOD-001 that was inclined 45 degrees east. A sub-vertical hole from the same platform returned lower grades.
Drilling has now commenced from a platform to the north of this historical drilling, targeting an exposure of the vein system with prior trenching and ongoing channel sampling of mineralization. The Company intends to release drilling results when complete assays are available.
On behalf of Highlander Silver
"Daniel Earle"
President and CEO
Information contact
Arun Lamba, Vice President Corporate Development
alamba@highlandersilver.com
About Highlander Silver
Highlander Silver is primarily focused on advancing the bonanza grade San Luis gold-silver project that is located adjacent to the past-producing Pierina mine in Central Peru. San Luis hosts Indicated Mineral Resources of 356 koz Au at 24.4 g/t Au and 8.4 Moz Ag at 579 g/t Ag and ranks among the 10 highest grade projects globally in both gold and silver categories.1 The Company's significant shareholders include the Augusta Group, which boasts an exceptional track record of value creation totaling over $4.5 billion in exit transactions, and strategic shareholders, the Lundin family and Eric Sprott.
1S&P Global rankings including the San Luis gold-silver project.
The scientific and technical information contained herein is derived from Highlander Silver's technical report titled "Technical Report on the San Luis Property" with an effective date of January 15, 2025, prepared by independent qualified person, Martin Mount, MSc MCSM FGS CGeol FIMMM Ceng, and available on SEDAR+ at www.sedarplus.ca.
Forward-looking statements
Certain information contained in this news release constitutes "forward-looking information" under Canadian securities legislation. This includes, but is not limited to, ramp up of our community hiring and infrastructure programs alongside our exploration activities; a drone-based geophysical survey is attempting to map these areas; and the Company intends to release results when complete assays are available. Such forward looking information or statements can be identified by the use of words such as "ramp up", "attempting", "intends", "believes", "plans", "suggests", "targets" or "prospects" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "will" be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, changes in project parameters as plans continue to be refined, future prices of precious and base metals, accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental or stock exchange approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.
SOURCE: Highlander Silver Corp.
First Andes Silver Mobilizes Rig for Second Drill Program at Santas Gloria Project, Targeting Extension of High-Grade Silver Discovery at Depth
https://www.newsfilecorp.com/release/254907/First-Andes-Silver-Mobilizes-Rig-for-Second-Drill-Program-at-Santas-Gloria-Project-Targeting-Extension-of-HighGrade-Silver-Discovery-at-Depth
June 09, 2025 7:30 AM EDT | Source: First Andes Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company" or "First Andes") today announced that mobilization has commenced for the upcoming fully permitted 2000-meter ("m") diamond drilling program at the Company's 100%-owned Santas Gloria Project ("Santas Gloria" and the "Project") located 100 kilometers ("km") east of Lima, Peru.
Key Point Summary
Drill rig mobilization is ahead of schedule, with an expected start to the program in two weeks;
Targeting the San Jorge Vein's ("San Jorge") higher-grade sulphide zone at depth, down-dip from the near-surface drilling discovery returned in 2024;
Program is designed to assess the resource potential of San Jorge, and with success, preparations for an aggressive step-out campaign will commence;
Fully permitted for drilling with excellent access (2.5-hour drive east of Lima), forgiving terrain and relatively low altitude (2,700-3,600 m), facilitating fast, cost-effective drilling;
District-scale upside and grade, with >12 km of untested veins across a regional intermediate sulphidation epithermal system that was only first drilled in 2024;
Prolific grades at surface, including channel samples up to 16,699 g/t Ag at the Tembladera Vein and 56 g/t Au at the Kelly Vein;
Bench-scale flotation test work in 2022 on samples from underground sulphide zones at San Jorge demonstrated excellent precious metals recoveries of 88.1% for silver 80.9% for gold;
Grades at Santas Gloria compare favorably to those at many of the world's leading silver producers;
Silver prices are surging amid tight supply and booming industrial demand making high-grade projects like Santas Gloria are in high demand;
Peru is the world's #3 silver producer with a stable legal framework, clear permitting process and strong government support;
First Andes has a long-standing in-country presence, and benefits from supportive local communities.
Colin Smith, CEO and Director of the Company stated: "With the abundance and scale of outcropping, high-grade epithermal veins (>12 km) and exceptional grades (16,699 g/t Ag at the Tembladera Vein, 56 g/t Au at the Kelly Vein) from surface and underground sampling, it is remarkable that Santas Gloria was only first drilled in 2024, showcasing the considerable untapped discovery potential. The upcoming program marks major milestone for First Andes and offers shareholders the opportunity to leverage the high-grade 2024 drilling discovery at the San Jorge Vein by targeting higher-grade sulphide zones at depth. Santas Gloria offers a rare combination of scale, grade, and discovery upside in one of the world's most mining-friendly and productive silver jurisdictions."
2025 Drill Program
The upcoming program will build on the success of Santas Gloria's maiden 2024 drill campaign, which returned multiple high-grade silver intercepts across several mineralized vein systems. In particular, 2024 diamond drill hole SG003, within the sulphide zone, intersected 7.43 m of 224 g/t AgEq (193 g/t Ag, 0.34% Pb, 0.3% Zn, 0.05 g/t Au) from 86.7 m including 0.95 m at 754 g/t AgEq (701 g/t Ag, 1.07% Pb, 0.62% Zn, 0.08 g/t Au) from 88.65 m (see news release dated October 29, 2024).
The 2025 drill program will test strike and depth extensions of the drill-confirmed high-grade San Jorge vein, with mineralization remaining open in all directions. For more information on the upcoming 2025 drill program, see news release dated May 23, 2025.
Significant Untapped Exploration Potential
Despite hosting over 12 km of mapped, multiphase intermediate-sulphidation vein systems, Santas Gloria had never been drill-tested prior to First Andes in 2024. The district-scale epithermal system includes at least 15 known silver-gold-base metal veins, many of which remain untested. Surface and underground channel sampling has returned consistently high-grade silver assays, including 16,699 g/t Ag at the Tembladera Vein and 56 g/t Au at the Kelly Vein, highlighting the Project's exceptional potential.
While Santas Gloria is best known for its silver-dominant (+ gold, + base metals) intermediate sulphidation veins, surface channel sampling conducted in 2021 at the Kelly Vein demonstrated the additional presence of a high-grade gold epithermal mineralization (Figure 1). This undrilled auriferous target has been mapped over a strike length of 1,175 m and hosts high-grade channel sample assays over a strike length of 750 m.
In addition, the Kelly Vein is hosted within a regional structural flexure and prospective lithological contact - a geological environment renowned for loci of dilation, allowing for hydrothermal fluids to pond and precipitate high-grade gold due to enhanced permeability and pressure drops. The coincidence of this prospective regional feature with the high-grade surface anomalism substantiates the Kelly Vein as a priority drill target in future programs, with strong potential for significant subsurface gold mineralization.
Figure 1: Plan map of the Kelly Vein, showing high-grade gold assays from 2021 channel sampling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/254907_011c99f6841f2989_002full.jpg
Figure 2: High-grade and undrilled outcropping Kelly Vein.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/254907_firstandesimg2.2.jpg
Quality Assurance / Quality Control ("QA/QC")
The Company follows industry-recognized standards of Best Practice and QA/QC. Samples from 2024 were submitted to ALS Peru S.A. (ISO 9001:2008) in Lima, Peru in sealed in plastic bags using single use tie-locks, thereby ensuring chain of custody, for fire assay and ICP analysis. To date, all batches have passed QA/QC within acceptable tolerance limits. All diamond holes were drilled in PQ-NQ diameter. Core recovery across all veins exceeded 90%.
Qualified Person
Dr. Christopher Wilson, Ph.D., FAusIMM (CP), FSEG, FGS, a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About First Andes Silver Ltd.
First Andes Silver Ltd. is a British Columbia company that holds a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. Santas Gloria has excellent established road access, and is situated within a well-known intermediate sulphidation epithermal belt, and hosts over 12 km of multiphase veins mapped at surface which had never been historically drilled or explored by modern techniques before 2024. First Andes' maiden diamond drill program last year reported high-grade silver grades on all drilled vein systems confirming silver endowment and warranting high priority follow-up drilling in 2025.
For more information please contact:
Colin Smith, CEO & Director
Phone: (604) 806-0626
E-mail: info@firstandes.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's limited operating history, ability to obtain sufficient financing to carry out its exploration programs and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: First Andes Silver Ltd.
Aftermath Silver Continues to Intersect High Grade Silver, Copper and Manganese at Berenguela, Peru
https://www.newsfilecorp.com/release/254919/Aftermath-Silver-Continues-to-Intersect-High-Grade-Silver-Copper-and-Manganese-at-Berenguela-Peru
June 09, 2025 11:00 AM EDT | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF)
Palamina Completes Transfer of the Gaban Gold and Ica Copper Silver Projects from Winshear Gold
https://www.newsfilecorp.com/release/254566/Palamina-Completes-Transfer-of-the-Gaban-Gold-and-Ica-Copper-Silver-Projects-from-Winshear-Gold
June 05, 2025 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - June 5, 2025) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF): On April 11, 2025, Palamina received notice from Winshear offering to return 100% ownership of the Gaban Gold and Ica Copper-Gold projects to Palamina (see April 14, 2025 news release). In accordance with the terms of the original purchase and sale agreement, Palamina confirmed its intention to take back ownership, and the transfer process is now complete.
Projects Overview
Gaban Gold Project: Located in the Puno Orogenic Gold Belt in southeastern Peru, the Gaban Gold Project has been the subject of significant exploration including an airborne geophysical survey completed in 2024. Previous sampling campaigns had outlined a gold-bearing mineralized shear zone extending over a 900m by 2,200m area. Surface samples collected in quartz-rich deformed shear zones returned assays of up to 32 g/t gold. The first-ever 1,005 meter drill program was completed in late 2024 and returned some notable intersections, including 4 meters of 5.04 g/t gold and 21 meters of 1.29 g/t gold hosted in shales. These were from the two southernmost drill holes in the Coritiri zone. The drill program was stopped earlier than anticipated due to the early onset of the rainy season, which prevented drilling of some of the main targets to the southwest. The DIA environmental permit with approved drill pads remains in place.
Ica Copper-Gold Project: Located 45 km southeast of the city of Ica at an elevation of 2,000 m and 300 km southeast of Lima along the Pan-American highway. The Ica iron oxide-copper-gold project is an early-stage exploration target that covers an area of 2,933 hectares. Initial reconnaissance mapping and sampling programs have delineated several laterally continuous copper-gold veins and magnetite rich replacement bodies hosted in a shallowly oxidized Jurassic aged volcanic sequence. An airborne magnetic survey was completed in early 2024 to assess the possibility of a large magnetite or sulfide rich mineralized body at depth.
Andrew Thomson, President of Palamina, commented: "We appreciate all the work and effort that Winshear has undertaken in advancing these projects. Regaining ownership of the Gaban and Ica projects, allows Palamina to strengthen its position as one of the most active junior exploration companies in Peru, strengthening our portfolio of precious and base metals projects in one of the world's premier exploration jurisdictions."
The Company is conducting a comprehensive review of the claim blocks for both properties and may choose to drop a portion of the claims that do not align with its exploration objectives. Mr. Thomson has resigned from the board of Winshear Gold. Palamina no longer holds any equity nor has any ongoing relationship with Winshear Gold.
Technical Information
The technical information herein has been reviewed and approved by Alvaro Fernandez-Baca P. Geo.; a Qualified Person as defined by National Instrument 43-101. Mr. Fernandez-Baca is Palamina's Vice President of Exploration.
About Palamina Corp.
Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in southeastern Peru. Palamina is primarily focused on adding value through drill discovery at its Usicayos gold project. Palamina land bank of copper-silver assets with an "acquire and hold" strategy in southeastern and northeastern Peru. Palamina has 71,634,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB under the symbol PLMNF.
On Behalf of the Board of Directors:
Andrew Thomson, President
Phone: (416) 204-7536 or visit www.palamina.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements include, but are not limited to, the Company's future business and exploration plans. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedarplus.ca.
SOURCE: Palamina Corp.
Hannan Indentifies Two New Zones of Gold Mineralization at Previsto and Expands the Footprint to 650 Metres Strike
https://www.newsfilecorp.com/release/254301/Hannan-Indentifies-Two-New-Zones-of-Gold-Mineralization-at-Previsto-and-Expands-the-Footprint-to-650-Metres-Strike
June 03, 2025 6:30 AM EDT | Source: Hannan Metals Ltd.
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - Hannan Metals Limited's (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") is pleased to report recent mapping and channel sampling has significantly expanded the alkalic-type epithermal gold mineralization at Previsto by approximately 150 m to 200 m to 650 m of total strike length with multiple high-grade results.
The mineralization, which remains open along strike, sits at the northern edge of a 4 km by 4 km soil gold anomaly (>0.1 g/t Au). These results, featuring both high-grade structures and broader mineralized zones, suggest similarities to globally significant alkalic epithermal gold deposits.
Key Highlights:
Coherent gold mineralization now extends over 650 m of strike length and up to 100 m width within a 4 km × 4 km gold-in-soil anomaly within the Previsto Alkalic Intrusive Complex (Figure 2).
Zone extension of approximately 150 m to 200 m southward from the original area through identification of the "Southern Zone" (Figure 3) with 8 panel samples averaging 0.3 g/t Au and 3 g/t Ag.
New parallel structures identified 80 m west (Western Zone, Figure 4) of original high-grade zone within the expanded zone, including:
21 m @ 0.46 g/t Au, 5.2 g/t Ag, including 3 m @ 1.87 g/t Au, 8.85 g/t Ag
21 m @ 0.26 g/t Au, 5.8 g/t Ag
Individual high-grade veins up to 1.27 g/t Au, 17.6 g/t Ag
Exceptional high-grade results from the central high-grade 100 m × 50 m area (previously reported) intersections include:
135.2 m @ 1.3 g/t Au, 9 g/t Ag, including:
3.0 m @ 12.7 g/t Au, 49 g/t Ag and
3.0 m @ 11.2 g/t Au, 53 g/t Ag
11.3 m @ 3.7 g/t Au, 18 g/t Ag including 1.7 m @ 23.4 g/t Au
2.3 m @ 18.8 g/t Au and 66 g/t Ag
Maiden Drilling Program Continues at Belen: First-ever drilling commenced at Vista Alegre, with drill hole HDDVA001 completed at 184.6 m (Figures 3 to 5). Up to 5,000 m of diamond drilling across 18 holes, targeting three distinct mineral systems, are planned for Belen.
Michael Hudson, CEO, states: "The expanded high-grade gold mineralization represents a significant milestone in our exploration of the Previsto project. Finding gold mineralization in bedrock over a 650 m strike builds substantial confidence in the scale of the system. We have identified multiple high-grade vein sets that demonstrate the exceptional potential of this area. What's particularly encouraging is the presence of these robust gold structures within broader halos of moderate-grade mineralization — a hallmark of globally significant alkalic epithermal systems.
"Our field teams continue to expand the Previsto Central with each month of work, revealing new mineralized zones and extending known structures. We've scheduled more detailed sampling programs specifically designed to better define these high-grade structures within the broader envelope of gold mineralization. The combination of scale, grade, and geological setting at Previsto makes this one of the most exciting projects in Hannan's portfolio, and we look forward to advancing this promising target toward drill testing.
"And not to be forgotten, drilling at Belen is now underway with our inaugural 5,000 m program across 18 diamond drill holes targeting three priority areas. At Vista Alegre, our first hole HDDVA001 has been completed at 184.6 m, testing a 600 m by 500 m high chargeability zone that coincides with strong gold-in-soil anomalies and surface mineralization grading up to 2.7 g/t Au and 44 g/t Ag. This represents the start of systematic drill testing across our 2.4 km long geophysical anomaly. Drillhole HDDVA002 is now underway.
"Following Vista Alegre, we'll advance to Sortilegio's 1.2 km long alkalic porphyry system and then Ricardo Herrera's substantial 1,000 m by 250 m chargeability anomaly with outcropping porphyry-style copper-gold mineralization. With first assay results expected in July 2025, we're simultaneously advancing multiple significant scale targets across the emerging Valiente 150 km mineral belt where we hold first mover advantage. The combination of active drilling at Belen and the expanding Previsto project positions Hannan at an inflection point in demonstrating the true potential of Valiente."
Technical Discussion
Previsto Central Gold Mineralization Style
Gold mineralization is hosted within a brecciated, calcareous K-feldspar porphyry of syenitic protolith, which locally contains large xenoliths of sedimentary rocks. The mineralization displays several key features:
High-grade gold zones are associated with pervasive fine roscoelite (vanadium-rich potassic mica) and fine grey quartz veining with pyrite, occurring as both veinlets and stockwork.
Alteration assemblages include manganese oxides replacing vein and breccia fill, suggesting that unweathered mineralization contained rhodochrosite, a manganese carbonate mineral typically found in low-sulfidation epithermal systems.
Primary mineralization consists of 1% disseminated pyrite with trace chalcopyrite, pyrite veinlets, roscoelite veinlets, and fine jarosite veinlets (likely after pyrite).
Preservation indicators include a 1.3 m wide zone containing crystal-lined irregular cavities, suggesting minimal erosion of the intrusive body and potential preservation of the complete epithermal system.
The current structural interpretation suggests gold deposition was focused along late strike-slip faults where horizontal movement created extensional structures within a compressional regime (highlighted in Figure 4).
Gold mineralization at Previsto Central occurs in four distinct settings
High-Grade Vein Zones: Gold-rich roscoelite-adularia veins have been mapped over a 100 m × 50 m area within broader gold-anomalous rocks (>0.1 g/t Au). Initial mapping reveals a "Z"-shaped vein system indicative of dextral strike-slip movement. Peak gold grades occur in veins composed of dark green, fine-grained roscoelite and granular adularia, with both vertical and horizontal orientations documented.
Moderate-Grade Stockwork Zones: Adularia/pyrite stockworks with brittle crackle textures typically yield assays of 0.1 to 1.0 g/t gold.
Silver-Dominant Peripheral Zones: Distal portions of the system are characterized by silver-enriched quartz/adularia stockwork veins with <0.1 g/t gold.
Copper-Enriched Zones: Distinct copper mineralization has been identified separate from the gold-mineralized channels, suggesting a metal zonation pattern. Gold-silver-tellurium mineralization predominates in upper elevations, while copper mineralization concentrates at lower elevations, consistent with a classic porphyry-epithermal transition.
Emerging Clustered Epithermal - Porphyry Copper-Gold System
Previsto represents both an extensive alkalic-type epithermal gold system and an emerging copper-gold porphyry district. Beyond the high-grade gold channels reported in this release, Hannan has defined a 4 km × 4 km gold-in-soil anomaly associated with two additional significant mineralized zones:
1. Porphyry Copper Zone: Located 1.3 km northwest of the gold mineralization, extensive channel sampling has identified consistent copper mineralization despite significant weathering and leaching, suggesting potential for higher grades in unweathered (hypogene) zones. Significant results from 768.7 m of channel sampling include:
48.0 m @ 0.12% Cu (CH15447)
107.0 m @ 0.09% Cu (CH15430)
126.0 m @ 0.22% Cu (CH14555)
192.0 m @ 0.17% Cu (CH15391)
2. Previsto East Target: Situated 2.6 km east of the reported gold mineralization, this 1,800 m × 400 m gold-copper porphyry-epithermal target features strongly anomalous gold in soils (up to 0.6 g/t Au) and mineralized boulders assaying up to 1.9 g/t Au.
The spatial relationship between these mineralized zones suggests a district-scale hydrothermal system with classic porphyry-epithermal zoning patterns. This multi-faceted mineralization, spanning several km, is characteristic of major alkalic gold-copper districts globally.
Maiden Drilling Program at Belen
Belen is located 23 km SW of Previsto Central. The initial phase of drilling at Belen consists of up to 5,000 m across 18 diamond drill holes designed to test the three primary target areas at Belen (Figures 5 to 10):
Vista Alegre (First Priority): The first drill holes will test distinct sections of the 2.4 km long geophysical anomaly targeting two zones. HDDVA001, completed at 184.6 m (Figures 3 to 5), targeted the central 600 m long and 500 m deep high chargeability-low resistivity zone coinciding with strong gold-in-soil anomaly (up to 0.12 ppm Au) and gold mineralization in boulders correlating with Au-Ag-Te-As and variable copper (up to 2.72 Au and 44 g/t Ag).
Sortilegio (Second Priority): The next phase drilling will investigate the 1.2 km long chargeability anomaly within the alkalic porphyry system. Drillholes will target the source of extensive surface soil copper anomalies coinciding with hydrothermal gold anomalous quartz-gossan boulders with elevated Au-Mo-Te. The chargeability response consists of three alkalic Cu-Au targets identified within the 1.2 km long trend.
Ricardo Herrera (Third Priority): The final set of planned drill holes will target the core of the substantial chargeability anomaly that extends over 1,000 m by 250 m with outcropping porphyry-style copper-gold mineralization showing moderate to strong phyllic alteration, with drill pads positioned strategically to test the lateral extent of the mineralized system.
The drilling program is expected to take approximately 6 months to complete, with first assay results anticipated in July 2025.
Hannan Metals is committed to legal compliance, community respect, and environmental stewardship, emphasizing that all operations only proceed with proper authorization from local populations and with required environmental and archaeological certifications.
Key Characteristics of Alkalic Gold Systems
The gold mineralization at Previsto displays classic characteristics of alkalic-type epithermal gold systems, which are globally recognized for forming significant high-grade deposits. Notable examples include:
Porgera (Papua New Guinea): Regarded as one of the world's top ten producing gold mines with historic production of 16 million ounces of gold and almost 3 million ounces of silver.
Cripple Creek (Colorado): Colorado's most prolific gold district with historic production exceeding 23 million ounces of gold.
Alkalic gold deposits occur in diverse geological settings but typically form in localized extensional regimes associated with alkaline intrusive rocks. These systems are characterized by:
Spatial association with high-K calc-alkaline to alkaline igneous rocks, commonly as diatremes or intrusive complexes.
Distinctive geochemical signature with enrichment in Ag, V, Te, Fe, F, K, Ba, and Mo, and typically elevated Au:Ag ratios.
Complex structural controls featuring multiple mineralizing events.
Extensive vertical continuity that can exceed 1,000bm (as demonstrated at Cripple Creek and Porgera).
Diagnostic alteration assemblages including carbonate minerals and roscoelite (vanadium-rich mica).
About the Valiente Project
The 100% owned Valiente project is in central eastern Peru, east of the city of Tingo Maria (Figures 1 and 2). The area is characterized by steep topography on the eastern flank of the Central Cordillera with elevations between 800 m and 2,000 m above sea level (a.s.l.). The project was found in 2021 during an extensive greenfields prospecting program initiated by Hannan for back-arc porphyry copper-gold systems. The Company has been actively prospecting on the project since 2021 and has successfully gained social permits progressively in all areas of interest.
During 2021 Hannan staked and still holds 1,002 km2 of 100% owned mining concessions at Valiente covering unexplored terrain for potential mineralized porphyry targets in central eastern Peru. The Valiente Project has rapidly evolved from a greenfields prospect to a multi-prospect opportunity.
Early surface prospecting identified two outcropping copper-gold porphyry targets and one epithermal target at Belen (see Press Release Feb 16, 2023). Porphyry areas quickly followed at Serrano Norte, Serrano and Pucacunga. The focus more recently has been on Previsto. At Previsto and Belen, a district-scale porphyry cluster within an area of 25 km by 10 km, with eight porphyry and/or epithermal targets now identified in more detail with up to 10 earlier stage targets awaiting further work.
The Company is executing a multi-year strategy to systematically explore and drill test its extensive land package in this emerging Miocene-aged linked porphyry-epithermal mineral belt.
Technical Background
All samples were collected by Hannan geologists. Samples were transported to ALS in Lima via third party services using trackable parcels and by company staff. At the laboratory, rock samples were prepared and analyzed by standard methods. The sample preparation involved crushing 70% to less than 2 mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns. Samples were analyzed by method ME-MS61, a four-acid digest performed on 0.25g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS. Gold was analyzed in rock and soils by ALS in Lima using a standard sample preparation and 30g fire assay sample charge. Soil samples were analyzed by a portable XRF (VANTA-VMR) using an inhouse protocol which includes routine use of CRM and field duplicates as well as 10% check samples analyzed by ALS Lima.
Channel samples are considered representative of the in-situ mineralization samples. At this stage true widths of mineralization are not known. Grab or panel samples are selective by nature and are unlikely to represent average grades on the property.
About Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF)
Hannan Metals Limited is a natural resources and exploration company focused on the discovery of large gold and copper mineralizing systems in new frontiers. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and Peru.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO
Further Information
www.hannanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez, Corporate Secretary
+1 (604) 685 9316, info@hannanmetals.com
Forward-Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve 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 statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.
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SOURCE: Hannan Metals Ltd.
Sitka Intercepts Multiple Occurrences of Visible Gold in First Drill Holes of the Summer Season at Its RC Gold Project, Yukon
Three diamond drills currently operating and a fourth diamond drill rig on site as part of the fully funded 30,000 metre drilling campaign planned at RC Gold this year, more than doubling the amount of drilling completed by Sitka Gold since work was initiated in 2020
Additional visible gold observed in Hole 76 after it was re-entered and extended from 810.8 m to 944.9 m, the deepest hole ever drilled at Blackjack
Visible gold observed in all drill holes completed so far this year
Drilling is currently focused on expanding the Blackjack and Eiger deposits and exploring the Saddle zone where a linkage between the two deposits is suggested by geological observations and the largest and strongest gold-in-soil anomaly at the RC Gold Project (see Figures 3 and 4)
https://www.newsfilecorp.com/release/254144/Sitka-Intercepts-Multiple-Occurrences-of-Visible-Gold-in-First-Drill-Holes-of-the-Summer-Season-at-Its-RC-Gold-Project-Yukon
June 02, 2025 8:30 AM EDT | Source: Sitka Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 2, 2025) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that multiple instances of visible gold have been observed in the first drill holes of the summer field season its flagship RC Gold Project located in the Tombstone Gold Belt, Yukon. Three drills are currently operating and a fourth drill rig is on site as part of a fully-funded 30,000 metre drill program planned for 2025 at RC Gold. The primary focus of this year's diamond drilling campaign will be to rapidly expand the Blackjack and Eiger gold deposits while advancing several other high-priority gold targets within the Clear Creek Intrusive Complex (see Figures 4 and 5).
Several instances of visible gold have been observed in the drill core from DDRCCC-25-076 to 080, which are the first holes to be completed this summer season, with DDRCCC-25-078 and 079 producing the first visible gold ever observed at Eiger (see Figures 1). Assays are currently pending for all drill holes in this release.
"The summer field season at RC Gold is off to a strong start, with three drill rigs already turning and a fourth rig recently mobilized to site," said Cor Coe, Director and CEO of Sitka. "The presence of visible gold in the first holes of the season, including the first-ever observations of visible gold at the Eiger deposit expansion drilling, continue to demonstrate the exceptional gold endowment within the Clear Creek Intrusive Complex. This is the first follow up drilling we have conducted at the Eiger deposit since 2021 and the observations of visible gold in these initial step out holes to the west, towards the Saddle zone and Blackjack deposit, are very encouraging.
"The fully funded, 30,000 metre drill campaign planned for this year will more than double the total drilling completed since we initiated drilling in 2020, marking a major step forward in advancing RC Gold. To date, we've successfully discovered two gold deposits and outlined multiple high-priority targets ready for drill advancement. With this year's planned drilling equivalent to the past five years combined, there will be lots to look forward to as our team pushes to build on that success with additional new discoveries and meaningful expansion of our known deposits, both of which remain open in all directions."
Figure 1: Examples of instances of visible gold observed throughout holes DDRCCC-25-076 to DDRCCC-25-080. Holes 76, 77 and 80 are from the Blackjack and holes 78 and 79 from the Eiger. Note that the red colour is not a mineral but red marker used in core logging. Additional images of visible gold observed in these drill holes can be viewed HERE.
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Figure 2: Plan map of the Blackjack and Eiger gold deposits showing the location of diamond drill holes DDRCCC-25-076 to -081. Three drill rigs are focused on resource expansion at the Blackjack and Eiger deposits and the first follow-up drilling in the Saddle zone where the largest and strongest gold-in-soil anomaly on the property remains largely undrilled and where DDRCCC-23-054 intersected 84.0 m of 1.21 g/t gold (see news release dated October 30, 2023). Lamprophyre dikes (green lines) define extensional zones including the Blackjack-Saddle-Eiger corridor. Extensional corridors are one of the controls that created pathways for gold-bearing fluids in these mineralized systems.
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Figure 3: Plan map of the Blackjack and Eiger gold deposits showing gold-in-soil values, the location of diamond drill holes DDRCCC-25-076 to DDRCCC-25-081. Three drill rigs are focused on resource expansion at the Blackjack and Eiger deposits and the first follow-up drilling in the Saddle zone where the largest and strongest gold-in-soil anomaly on the property remains largely undrilled and where DDRCCC-23-054 intersected 84.0 m of 1.21 g/t gold (see news release dated October 30, 2023).
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Figure 4: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
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Figure 5: Long Section showing target areas from the Blackjack deposit to the Rhosgobel target and the proposed drilling allocated as part of the 30,000 metre diamond drilling program planned for 2025.
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Blackjack Drilling
Drilling at Blackjack continues to be directed at expanding the deposit, testing both the deeper underground and the near surface potential where the deposit remains open in all directions. Drill hole DDRCCC-25-076 (azimuth of 037° and dip of -75°) was extended to a depth of 944.9 m, the longest hole completed on the property to date. Visible gold was observed at 859.2 m down the hole within quartz veining in altered metasedimentary rocks. DDRCCC-25-080 (azimuth of 040o and dip of -55o) tested shallower extensions of mineralization and encountered visible gold in several locations from approximately 107 to 220 m depth.
Eiger Drilling
Drill holes DDRCCC-25-078 (azimuth of 345o and dip of -50o) and 079 (azimuth of 345o and dip of -55o) are the first holes completed on the Eiger deposit expansion program. The Eiger deposit has not been drilled since its discovery in 2021. These first two holes were drilled to expand the deposit to the west. Hole 78 encountered strongly altered metasediments with quartz veining and visible gold before being terminated in a fault zone prior to intersecting the Eiger intrusion. Hole 79 was drilled from the same set-up at a steeper angle and successfully penetrated the fault zone which was the faulted contact with the Eiger intrusion. Visible gold was encountered in Hole 79 within sheeted quartz veining within the metasediments and the Eiger intrusion.
Saddle Drilling
Drill hole DDRCCC-25-081 (azimuth of 025o and dip of -50o) is the first drill hole collared in the Saddle zone since the most recent drilling completed in 2023 which intersected 84.0 m of 1.21 g/t gold in Hole 54 and 29.0 m of 0.68 g/t gold in Hole 53. The Saddle zone is midway between the Blackjack and Eiger deposits and is defined by the largest and highest grade gold-in-soil anomaly on the property within an extensional zone containing lamprophyre and quartz monzonite intrusives dikes and sills. Drilling in 2025 is targeted to follow-up on previous drilling and define an initial resource in this area which is within the conceptual pit limits of the Blackjack deposit and explore the linkage between the two deposits. This drill hole collared in metasediments and is planned to a depth of 350.0 m.
About the flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
To date, 73 diamond drill holes have been drilled into this system by the Company for a total of approximately 25,851 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, Including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 m of 1.55 g/t gold including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold.
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_2023_eagle_mine_technical_report_final.pdf
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022.pdf
(4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/banyan_gold_ni_43-101_technical_report_2024_03_18.pdf
(5) https://snowlinegold.com/2025/05/15/snowline-gold-expands-measured-and-indicated-gold-ounces-by-96-in-updated-mineral-resource-estimate-at-its-valley-gold-deposit-yukon/
Corporate Update
The Company is pleased to announce that, subject to regulatory approval, it has entered into an amendment agreement for the OGI Property, Yukon. The targets at OGI are an intrusion-related gold deposit such as the Valley, RC Gold and Aurmarc deposits in Yukon and Fort Knox in Alaska and also a SEDEX style, stratabound Zinc-Lead-Silver (Zn-Pb-Ag) deposit, similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin. In consideration for 300,000 shares and $50,000, the required $2,500,000 work expenditures will be eliminated. The Company has spent approximately $550,000 to date on the OGI Property. This amendment will give the Company 100% ownership of the OGI Property, subject to the underlying royalty interest.
The Company is also pleased to announce that, subject to regulatory approval, it has entered into an amendment agreement for the Burro Creek Property, Arizona. The Burro Creek Property covers a low-sulphidation epithermal vein system that hosts gold and silver Indicated and Inferred Historical Mineral Resource estimates. In consideration for 2,000,000 shares and $100,000, the required $4,000,000 work expenditures will be eliminated. The Company has spent approximately $1,200,000 to date on the Burro Creek Property and has a 1,000,000 share payment due in September 2025. This amendment will give the Company 100% ownership of the Burro Creek Property, subject to the underlying royalty interest. This amendment agreement is considered a related-party transaction pursuant to Multilateral Instrument 61-101, as the Vendor is controlled by Cor Coe, the chief executive officer and a director of the Company. This amendment agreement is exempt from the need to obtain minority shareholder approval and a formal valuation as required by and under applicable provisions of MI 61-101.
For more information on the OGI and Burro Creek properties, please visit www.sitkagoldcorp.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
Take Stock - Calgary, AB : July 2 - 3, 2025
Yukon Mining Alliance Property Tours - Dawson City, Yukon: July 11 - 14, 2025
Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025
Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $24 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Neither 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 and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE: Sitka Gold Corp.
Chakana Provides Corporate Update & Exploration Plan for La Joya Project, Peru
https://www.newsfilecorp.com/release/254140/Chakana-Provides-Corporate-Update-Exploration-Plan-for-La-Joya-Project-Peru
June 02, 2025 6:30 AM EDT | Source: Chakana Copper Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 2, 2025) - Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX0) (the "Company" or "Chakana"), is pleased to provide this update and outline its exploration plan for the La Joya project in Ancash, Peru. After eliminating all property payments and consolidating its share structure, the Company is focusing its exploration efforts on three mineral rich target areas within the newly defined La Joya project.
The La Joya project includes three principal target areas:
the La Joya high-sulfidation epithermal (HSE) system, where minimal 2024 drilling confirmed high-grade silver mineralization including 1,005.0 gpt silver and 0.45 gpt gold over 0.75m within an alteration zone with 700 meters of strike length; and
the Mega-Gold intrusive center, where 2024 scout drilling confirmed a high-level porphyry environment with two yet to be tested discrete porphyry targets; and
the Compañero gold zone, where hydrothermal breccia is exposed at surface in several outcrops over an area of 250 metres diameter with channel sample assays up to 14.4 gpt gold.
The La Joya project is located within an option agreement with Barrick Gold (NYSE: B) (TSX: ABX) (Figure 1) and has no property payments.
"The fully permitted drill targets at La Joya (HSE) and Mega-Gold are exciting discovery opportunities. We have already encountered high grade silver mineralization in drilling at La Joya within the same stratigraphy that hosts significant mineralization in the district. At Mega-Gold, our initial scout drilling, combined with geophysics and geochemical zoning, provide strong vectors defining two discrete porphyry targets," stated President and CEO David Kelley.
2025 Exploration Plan
The La Joya (HSE) and Mega-Gold prospects are fully permitted for additional drilling. At La Joya (HSE), detailed mapping and a detail ground geophysical survey will be completed prior to drilling. The target is a stratigraphically hosted bulk tonnage precious metals deposit. Approximately 1,900m of drilling is anticipated. At Mega-Gold, a definitive drill test of the PT-1 porphyry target is planned with an anticipated depth of 400m. The final stage of permitting allowing drilling at the Compañero gold zone will be completed. The environmental permit has been awarded with the initiation of activities remaining to be completed.
La Joya High-Sulfidation Epithermal Prospect
The La Joya (HSE) target area is associated with high-sulfidation advanced argillic alteration consisting of vuggy silica, alunite, dickite, zunyite, diaspore, and pyrophyllite. The zone of alteration extends 700 metres in a north-south direction at an elevation of approximately 4,500 metres (Figures 1 and 2). Surface rock samples collected from the alteration zone have silver and gold values up to 1,300 gpt and 0.36 gpt, respectively.
Three shallow holes were completed at La Joya in 2024 for a total of 465.5 m. The holes were planned to drill beneath strongly silicified volcanic rocks where zones of vuggy silica alteration returned strongly anomalous values in silver and gold. The strongest mineralization was observed in hole LJDH24-002 with 323.6 gpt silver and 0.25 gpt gold over 4.5 m from 58.0 m depth. Within this interval vuggy silica is present over a 0.75m interval with 1,005.0 gpt silver and 0.45 gpt gold (see news release dated August 29, 2024). The mineralized interval is hosted within andesite tuff that shows evidence of advanced argillic alteration. Shallow drilling confirmed high-grade precious metal mineralization hosted in prospective volcanic stratigraphy and warrants additional drilling.
Mega-Gold Intrusive Center
The Mega-Gold intrusive center is a very large area occupying 2.5 km2 with anomalous gold in soil overlying pervasive tourmaline-quartz-white mica alteration, overprinted by localized advanced argillic alteration zones and tourmaline breccias. The target area is underlain by older andesitic tuff (Calipuy Formation) and a pre-mineral granodiorite, thought to be the first pulse of intrusive activity in the Aija-Ticapampa district. Within the gold anomaly is a distinct Offset (3D) induced polarization chargeability feature coincident with the soil anomaly. Beneath the strong chargeability zones are discrete zones of conductivity, believed to reflect mineralizing intrusions.
An initial "proof-of-concept" drilling program was completed in 2024 to test the idea that the Mega-Gold intrusive center is part of a mineralized porphyry system. A total of eight scout drill holes were completed across a broad area totaling 2,425.20 m. These holes display a variety of vein types (principally B and D veins); elevated gold, copper and molybdenum; and hydrothermal alteration zoning consistent with a high-level porphyry environment (see news release dated August 29, 2024). All holes encountered pyrite-chalcopyrite-molybdenite mineralization hosted in veins. Higher temperature alteration minerals suggesting proximity to a porphyry are most strongly developed in the three eastern-most holes drilled in the Mega-Gold target area (see news release dated July 2, 2024). These holes also exhibit narrow zones of strong mineralization in MGDH24-002 with 2.0 m of 1.8 gpt gold and 0.35% copper from 89.0 m depth, and 1.5 m of 11.05 gpt gold from 127.5 m depth in MGDH24-003, confirming a mineralized fluid source at depth. The strong IP chargeability zones are interpreted to be two separate pyrite shells related to underlying porphyry intrusions. Strongly conductive rock beneath the pyrite shells are potential zones of porphyry mineralization (PT-1, Figure 2 and 3) and warrant additional drilling.
Compañero Gold Prospect
The Compañero gold zone is located in the southwest part of the La Joya project adjacent to a pre-mineral intrusion. Mineralized hydrothermal breccias are exposed at surface in several outcrops within an area of approximately 250m in diameter. The breccias are strongly anomalous in gold with up to 14.4 gpt in channel samples and secondary copper minerals are noted in several localities. Three heavy mineral concentrate samples collected downstream and adjacent to the Compañero zone contain 19, 23, and 33 pristine gold grains. There has been no drilling in the Compañero area.
About Chakana Copper
Chakana Copper Corp is a Canadian-based minerals exploration Company that is currently advancing the La Joya project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. La Joya has three well-defined target areas based on extensive multi-disciplinary exploration: 1) precious metal mineralization at the La Joya high-sulfidation epithermal zone; 3) mineralization related to the Mega-Gold intrusive center; and 3) the Compañero gold zone. In addition, Chakana owns a 1% net smelter royalty over the Soledad property owned by Condor Resources in the active Aija-Ticapampa mining district (see news release dated October 8, 2024). For more information on the La Joya project, please visit the website at www.chakanacopper.com or Chakana's profile at www.sedarplus.ca.
Qualified Person
David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.
ON BEHALF OF THE BOARD
(signed) "David Kelley"
David Kelley
President and CEO
For further information contact:
Phone: 720-233-2166
Email: info@chakanacopper.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the "Project"), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
Figure 1 - Map showing the 1,600 hectare La Joya Project located in Ancash, Peru, incorporating the Barrick option and Chakana-owned concessions. The currently-known prospective areas are highlighted associated with anomalous gold in soil - La Joya (HSE), Mega-Gold, and Compañero. Principal structures, veins, and mantos in the western part of the Aija-Ticapampa mining district are also shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2172/254140_b915784c845f1bd7_001full.jpg
Figure 2 - Photo looking south showing the three principal target areas that make up the La Joya Project - 1) La Joya (HSE), 2) Mega-Gold intrusive center, and 3) Compañero gold zone. Black dots show location of initial scout holes drilled at Mega-Gold in 2024.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2172/254140_b915784c845f1bd7_002full.jpg
Figure 3 - Map showing high-priority discrete porphyry targets PT-1 and PT-2 with drill holes from 2024 drilling. Disc shapes on drill holes are >80 ppb gold. Section on right shows relation between induced polarization chargeability outlining pyrite shells (red) and underlying conductive features from the induced polarization resistivity model (blue).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2172/254140_b915784c845f1bd7_003full.jpg
SOURCE: Chakana Copper Corp.
Solis Announces: Diamond Drill Rig Arrives at Chancho al Palo, Peru
https://www.newsfilecorp.com/release/253919/Solis-Announces-Diamond-Drill-Rig-Arrives-at-Chancho-al-Palo-Peru
May 29, 2025 7:10 PM EDT | Source: Solis Minerals Ltd.
West Leederville, Western Australia--(Newsfile Corp. - May 29, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTCQB: SLMFF) ("Solis Minerals" or "the Company") is pleased to announce an update pertaining to its 100 per cent owned Chancho al Palo project in Peru.
A diamond drill rig has arrived at Chancho al Palo supported by leading local drilling company, AKD International ("AKD"). The Chancho al Palo diamond drill programme comprises approximately 2,500 metres across several priority targets (Figure 2), designed to test multiple anomalies identified during surface mapping, sampling and geophysics1.
Figure 1: Arrival of diamond drill rig to Chancho al Palo, Peru
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/253919_3d49e34f84f01ab8_001full.jpg
Chief Executive Officer, Mitch Thomas, commented:
"The Company is pleased to report that the drill rig has safely arrived at Chancho al Palo. This will be the first time the concession has been drilled, and we're targeting a series of compelling porphyry and IOCG anomalies identified through geochemical and geophysical work.
Importantly, Chancho al Palo is located 10 kilometres from the coast and 25 kilometres from Southern Copper's smelter and refinery complex. Southern Copper is Peru's largest copper producer and holds tenements adjacent to Chancho al Palo, further validating the geological potential of the area.
We expect assay results in July 2025 and look forward to building on this momentum with drilling at Ilo Este, anticipated to commence in June pending final permits. I am travelling to Peru this weekend to oversee commencement of drilling at our Chancho al Palo and Ilo Este projects.
It's an exciting period as we systematically test high-priority targets across our Peruvian portfolio."
1 Refer to ASX:SLM announcement 29 April 2024 "Exploration update for Peru, Borborema, Brazil"
Figure 2: Chancho al Palo drill targets over magnetic susceptibility plot. Targets include IP (1A and 1B) and magnetometry (M1 - M3) anomalies. Initial drill programme of 2,500 metres reflects a portion of the planned drill holes shown. Sequence and number of actual drill holes to be determined subject to programme results (refer to ASX Announcement 29 April 2024).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/253919_3d49e34f84f01ab8_016full.jpg
This announcement is authorised for release by the Board.
Contact
Mitch Thomas
Chief Executive Officer Solis Minerals Limited
mthomas@solisminerals.com.au
+61 458 890 355
Media & Broker Enquiries:
Fiona Marshall & Jason Mack White Noise Communications fiona@whitenoisecomms.com
jason@whitenoisecomms.com
+61 400 643 799
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Service Provider (as the term is defined in the policies of the TSXV) accepts responsibility for the accuracy of this news release.
About Solis Minerals Limited
Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru. Solis holds concessions totalling 69,200 hectares.
The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis, under its leadership team, is strategically positioned to capitalise on growth opportunities within this mineral-rich region.
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers 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, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Qualified Person Statement
The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101). Michael Parker is Technical Director of the Company.
Competent Person Statement
The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is Technical Director of Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves". Mr Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement.
SOURCE: Solis Minerals Ltd.
PPX Mining Announces an Extension of the Drill Program for the Callanquitas Gold-Silver Deposit
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ppx-mining-announces-an-extension-of-the-drill-program-for-the-callanquitas-gold-1031814
Monday, 26 May 2025 02:00 PM
TORONTO, ON / ACCESS Newswire / May 26, 2025 / PPX Mining Corp. (TSXV:PPX)(BVL:PPX) (the "Company" or "PPX")is pleased to announce a significant expansion of its ongoing diamond drilling campaign. The current program, originally planned for 2,300 meters, has been extended to a total of 4,200 meters. This extension aims to meaningfully increase the Company's mineral resource base at its Callanquitas Mine.
Highlights:
The decision to extend the drilling program was jointly made by PPX's geological team and their counterparts at Proyectos La Patagonia S.A.C., the Company's mining partner at the Callanquitas Mine.
The drilling of the Callanquitas West structure ("CW"), parallel formation to the Eastern structure which has been mined to date, will be extended with the objective of establishing a resource. The CW structure has a surface expression showing high-grades and the southern extension has been mined in the past. The first two holes (see press release dated May 13th, 2025) showed the presence of oxidized breccia with significant gold grades and appears to mirror the Callanquitas East structure.
The drilling plan for the area where a tensional fault was identified in 2024 and reported in a press release dated March 7 (hole CA-24-07) has been extended as this zone appears to have potential for high grade sulfide ore, as the drill results gave a 9.2 meters intersection with 10.3 g/t gold and 1670 g/t silver. Drilling will be completed for two more holes targeting CW, the drill will then be moved to drill the area of the tensional fault.
All drilling will be carried out from underground, two drill chambers are ready for use, a third will be excavated for drilling the northern end of CW. Using underground drilling reduces the length of the drill holed required and eliminates any delays associated with permitting surface drilling.
The cost of the extended program is estimated to be US$1,215,000, including taxes.
All scientific and technical information contained in this press release has been reviewed and approved by Eddy Canova, PGeo., External Consulting Geologist of PPX Mining Corp., who is a qualified person within the meaning of National Instrument 43-101.
On behalf of the Board Members
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
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.
Cautionary Statement:
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. Certain disclosures in this release may constitute "forward-looking statements" within the meaning of the United States Securities Litigation Reform Act of 1995 and the Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that it believes are reasonable. However, forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties are detailed from time to time in the Company's filings with relevant securities commissions, and may include, but are not limited to, market conditions, and delays in obtaining or failing to obtain regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements. The Company has no intention, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: PPX Mining Corp.
Aftermath Silver Reports High Grade Silver Intercepts Step Out Returns 1,174g/t Silver Over 7.1m
https://www.newsfilecorp.com/release/253273/Aftermath-Silver-Reports-High-Grade-Silver-Intercepts-Step-Out-Returns-1174gt-Silver-Over-7.1m
May 26, 2025 8:30 AM EDT | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2025) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF)
First Andes Silver Secures Drilling Contractor for Upcoming 2000 Meter Program at Santas Gloria, Peru
https://www.newsfilecorp.com/release/253079/First-Andes-Silver-Secures-Drilling-Contractor-for-Upcoming-2000-Meter-Program-at-Santas-Gloria-Peru
May 23, 2025 8:00 AM EDT | Source: First Andes Silver Ltd
. Vancouver, British Columbia--(Newsfile Corp. - May 23, 2025) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0)
Excellon Announces Offtake and Financing with Glencore to Restart Mallay Silver Mine
https://www.newsfilecorp.com/release/253164/Excellon-Announces-Offtake-and-Financing-with-Glencore-to-Restart-Mallay-Silver-Mine
May 23, 2025 7:00 AM EDT | Source: Excellon Resources Inc.
Toronto, Ontario--(Newsfile Corp. - May 23, 2025) - Excellon Resources Inc. (TSXV: EXN) (FSE: E4X2) ("Excellon" or the "Company") is pleased to announce that it has entered into a non-binding agreement dated on May 15, 2025, with subsidiaries of Glencore plc ("Glencore") to support the restart of the past-producing Mallay Silver Mine ("Mallay") in Peru (the "Agreement"). The Agreement comprises a concentrate offtake and a pre-export finance loan facility (the "Facility") that together will provide the key funding required to recommence operations at Mallay and return Excellon to silver producer status.
With today's announcement, and including the equity financing which closed on May 14, 2025, the Company has arranged up to $18 million in available capital for the restart of the Mallay Mine, working capital and general corporate purposes.
Facility Highlights:
Size: Up to US$7.5 million in funding.
Structure: Pre-export finance loan agreement secured by Mallay's concentrate production and other/various guarantees; advances to be repaid from concentrate sales over the offtake term.
Offtake commitment: Glencore to purchase 100% of Mallay's zinc-lead concentrate until 2028 - 2029 depending on certain conditions.
Grace period: The initial tranche includes a six-month grace period before initial amortization payment, providing additional flexibility during mine restart and ramp-up.
Use of proceeds: To fully finance the restart of the Mallay Silver Mine, covering mine rehabilitation, mill commissioning and working capital.
Shawn Howarth, President and CEO commented: "Partnering with Glencore - one of the world's foremost mining and commodity firms, with an extensive operational framework in Peru - is a transformational step for Excellon. Glencore's commitment is a strong vote of confidence in the quality and potential of the Mallay Mine and in our team's plan to bring the operation back into production. This agreement provides a non-dilutive financing solution, while also guaranteeing a home for our concentrates via a stable and secure offtake agreement at the most attractive terms presented to Excellon in a broader market tender. We look forward to a long and productive relationship with Glencore as we unlock Mallay's value and continue to grow Excellon into a leading silver producer."
The associated concentrate offtake agreement grants Glencore the right to purchase 100% of the Mallay Mine's zinc and lead concentrates (containing silver by-product). This long-term commitment provides a guaranteed purchaser for Mallay's output and provides Excellon with exposure to future upside on silver and other metals prices. Both parties are acting at arm's length. The Company expects to close the offtake and financing agreement with Glencore by the end of June.
About Excellon Resources Inc.
Excellon's vision is to realize opportunities through the acquisition and advancement of quality precious and base metal assets, leveraging an experienced management team for the benefit of its employees, communities and shareholders. The Company is focused on the near-term restart of the Mallay Silver Mine in Peru, which will position Excellon as an emerging silver producer. Excellon also holds a portfolio of exploration-stage projects, including Kilgore, an advanced gold project in Idaho, USA, and Silver City, a high-grade epithermal silver district in Saxony, Germany, providing additional growth upside. Additional details on Excellon's properties can be found at www.excellonresources.com.
For Further Information, Please Contact:
Excellon Resources Inc.
Shawn Howarth, President & Chief Executive Officer
info@excellonresources.com
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
All statements, other than statements of historical fact, contained, referenced or incorporated by reference in this news release constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as: "actively", "advance", "anticipated", "assess", "believe", "cause", "commence", "completion", "conditions", "consideration", "continues", "development", "due course", "expectation", "exploration", "extend", "extension", "flexibility", "focused", "forward", "further", "future", "if", "implement", "liquidity", "looking", "maturity", "may", "negotiations", "occur", "opportunities", "options", "outcome", "outstanding", "potential", "providing", "reach", "restructuring", "risk", "subject to", "to be", "update", "vision", "waive", "when", "will", and "would", or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, to, will, would (or not) be achieved, occur, provide, result, complete or support in the future or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Such factors include, among others: the risk that closing conditions for the Mallay acquisition or the Glencore financing are not satisfied in a timely manner or at all; risks related to construction, development and ramp-up of mining operations (including unanticipated costs or delays); commodity price fluctuations and global demand for silver, lead and zinc; operational and technical challenges in restarting an underground mine; regulatory and permitting risks; and general economic and market conditions. Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the inability of the Company to complete the Acquisition on the terms proposed or at all, the inability of the Company to receive necessary regulatory approvals, termination of the Agreement; failure of the Company to complete additional financing transactions on the terms proposed or at all; the inability to complete a feasibility study which recommends a production decision, the "Risk Factors" in the Company's annual information form dated March 31, 2025 (the "2024 AIF"), and the risks, uncertainties, contingencies and other factors identified in the Company's Management's Discussion and Analysis, and accompanying financial statements, for the year ended December 31, 2024, and the Company's other applicable public disclosure (collectively, "Company Disclosure"). The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the 2024 AIF and the other Company Disclosure. The forward-looking statements referenced or contained in this news release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the other Company Disclosure. Forward-looking statements contained herein are made as of the date of this news release (or as otherwise expressly specified) and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws.
SOURCE: Excellon Resources Inc.
Solis Announces Drill Rig Mobilised to Chancho al Palo, Peru
HIGHLIGHTS
2,500m diamond drilling programme to commence at Chancho al Palo, targeting a range of porphyry and iron oxide copper-gold ("IOCG") targets.
Ilo Este mining agency drill permit approved, with a diamond drilling program expected to commence in June 20251, targeting highly prospective copper targets.
Induced polarisation ("IP") survey at the Cinto copper-gold project near completion.
https://www.newsfilecorp.com/release/253062/Solis-Announces-Drill-Rig-Mobilised-to-Chancho-al-Palo-Peru
May 22, 2025 11:34 AM EDT | Source: Solis Minerals Ltd.
West Leederville, Western Australia--(Newsfile Corp. - May 22, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTCQB: SLMFF) ("Solis Minerals" or "the Company") is pleased to announce updates pertaining to three of its copper-gold projects in Peru.
Chancho al Palo Project
Drilling will commence at Solis Minerals' 100 per cent owned Chanco al Palo copper-gold project in Peru. A diamond drill-rig has been mobilised to site at Chancho al Palo, located in the same coastal copper belt as AusQuest's (ASX: AQD) Cangallo project and Southern Copper's (NYSE: SCCO) Tia Maria project.
The Chancho al Palo diamond drill progamme comprises approximately 2,500 metres across several priority targets (Figure 1), designed to test multiple coincident anomalies identified during recent surface mapping, sampling, and geophysics.
This will be the first drilling of Chancho al Palo and represents a major milestone in Solis Minerals' strategy to explore and unlock value across its portfolio of underexplored copper-gold projects in southern Peru. The drill programme will commence over the next few days.
Ilo Este and Cinto Projects
The Ministry of Energy and Mines of Peru ("MINEM") has recently approved the drill permit for Ilo Este (100 per cent Solis Minerals and located 20 kilometres from Chancho al Palo). Remaining approvals are being finalised with a 5,000 metre diamond drilling programme expected to commence in June 2025.
An IP survey at the Company's Cinto project (100 per cent Solis Minerals) is nearing completion. The Cinto project neighbours Southern Copper's Toquepala copper-gold mine which has been in production since 1960 producing 225,000 tonnes of copper in 20242. Cinto hosts copper-gold mineralisation at surface that is considered to be consistent with Toquepala3. Results from the IP survey are expected in June 2025.
___________________
1 Subject to finalisation of remaining approvals
2 Southern Copper Corporation. (2025). Production. Retrieved May 14, 2025, from https://southerncoppercorp.com/eng/production/
3 Refer to SLM:ASX announcement (23 April 2025) Additional High-Grade Copper Confirmed at Cinto, Peru
Chief Executive Officer, Mitch Thomas, commented:
"We are excited to launch our maiden drill campaign at Chancho al Palo, a project with significant potential in one of the world's premier copper-producing regions.
Our team has worked diligently to define high-priority targets, and we look forward to delivering the first-ever drill results from this highly prospective system in the coming weeks. These results will be complemented by the commencement of drilling at Ilo Este and the completion the IP program at Cinto. We are committed to maintaining a strong and consistent news flow across our high-quality copper-gold portfolio."
This announcement is authorised for release by the Board.
Contact
Mitch Thomas
Chief Executive Officer
Solis Minerals Limited
mthomas@solisminerals.com.au
+61 458 890 355 Media & Broker Enquiries:
Fiona Marshall & Jason Mack
White Noise Communications
fiona@whitenoisecomms.com
jason@whitenoisecomms.com
+61 400 643 799
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Service Provider (as the term is defined in the policies of the TSXV) accepts responsibility for the accuracy of this news release.
Figure 1: Chancho al Palo drill targets over magnetic susceptibility plot. Targets include IP (1A and 1B) and magnetometry (M1 - M3) anomalies. Initial drill programme of 2,500 meters reflects a portion of the planned drill holes shown. Sequence and number of actual drill holes to be determined subject to programme results (refer to ASX Announcement 29 April 2024).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/253062_figure1.jpg
About Solis Minerals Limited
Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru. Solis holds concessions totalling 69,200 hectares.
The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region.
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers 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, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Qualified Person Statement
The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101). Michael Parker is Technical Director of the Company.
Competent Person Statement
The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is Technical Director of Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves". Mr Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement.
SOURCE: Solis Minerals Ltd.
Silver X Mining Reports Pre-tax Profit for the First Quarter of 2025
https://www.accessnewswire.com/newsroom/en/metals-and-mining/silver-x-mining-corp.-reports-pre-tax-profit-for-the-first-quarter-of-2025-1030685
Thursday, 22 May 2025 07:35 AM
(All dollar amounts expressed in US dollars unless otherwise noted)
VANCOUVER, BC / ACCESS Newswire / May 22, 2025 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) (FRA:AGX)
Tinka Provides Update on Exploration Program at Silvia Gold - Copper Project
https://www.newsfilecorp.com/release/253030
May 22, 2025 6:30 AM EDT | Source: Tinka Resources Limited
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Tinka Resources Limited (TSXV: TK) (OTCQB: TKRFF)
Coppernico Reports Significant Surface Channel Sampling Results at Tipicancha Epithermal-Porphyry Target
https://www.globenewswire.com/news-release/2025/05/21/3085633/0/en/Coppernico-Reports-Significant-Surface-Channel-Sampling-Results-at-Tipicancha-Epithermal-Porphyry-Target.html
May 21, 2025 07:36 ET | Source: Coppernico Metals Inc.
VANCOUVER, British Columbia, May 21, 2025 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF)
Element 29 Resources Provides an Update on its Elida Porphyry Cu-Mo-Ag Deposit and Corporate Developments
https://www.newsfilecorp.com/release/252871/Element-29-Resources-Provides-an-Update-on-its-Elida-Porphyry-CuMoAg-Deposit-and-Corporate-Developments
May 21, 2025 8:01 AM EDT | Source: Element 29 Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) ("Element 29" or the "Company") is pleased to provide an update on recent activities at its flagship Elida Porphyry Copper ("Cu")-Molybdenum ("Mo")-Silver ("Ag") deposit ("Elida") in central Perú along with a corporate update.
Element 29 has launched a large-scale magnetotellurics ("MT") geophysical survey at Elida, targeting deeper mineralization ahead of the planned Phase-III drill program restart in Q3 2025. The Company continues to deliver key development milestones, including submission of a Declaración de Impacto Ambiental ("DIA") environmental approval application to significantly expand the drill capacity and finalizing a renewed surface access agreement with the host community for an additional 5-year term. Element 29 also announces the appointment of Michael Au as Chief Financial Officer, succeeding Duane Lo, and engages the Caesars Report for a one-year marketing campaign to enhance investor visibility.
President and CEO, Richard Osmond, commented, "Our team has made substantial progress behind the scenes to ensure Elida continues to move forward ahead of the upcoming Phase-III drill program. With the launch of the MT survey, advances in permitting, and strengthened community relations, 2025 is shaping up to be a transformative year for Element 29 as we continue to advance Elida towards a potential Tier-1 discovery."
MT Geophysical Survey
Element 29 has initiated a large-scale MT geophysical survey over its flagship Elida deposit (Figure 1). The survey includes more than 100 MT stations distributed across a 5-kilometre ("km") by 6 km area and is designed to generate a high-resolution, three-dimensional ("3D") resistivity model of the subsurface to depths exceeding 2,000 metres ("m"). MT is an advanced geophysical technique that measures natural variations in the Earth's electromagnetic fields in response to changes in subsurface resistivity. Widely used throughout the Andes, this method has contributed to the discovery of several large, deep-seated porphyry copper systems at depths exceeding 1,500 metres.
The Company intends to use the MT data to help delineate deeper, higher-grade Cu-Mo-Ag mineralization, and guide exploration of the broader hydrothermal alteration footprint below 500 m. The results from the survey will provide valuable insights into the geometry and scale of the mineralized system and assist in the planning of future drill campaigns.
Elida hosts five known mineralized targets within a 2.5 km by 2.5 km phyllic alteration footprint, associated with a large multiphase porphyry intrusive complex emplaced within structurally deformed volcano sedimentary rocks. Previous drilling has intersected broad intervals of Cu-Mo-Ag mineralization starting at bedrock surface and extending to depths exceeding 1,000 m-highlighting strong potential for resource expansion.
Figure 1: Location of MT stations relative to the large 2.5 km x 2.5 km phyllic alteration footprint of the Elida deposit and the surface projection of the existing drill hole traces and pit-constrained Inferred Resource Estimate.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7414/252871_061f8fde5424db20_001full.jpg
DIA Permit Application
The Company recently submitted its DIA environmental approval application for Elida to the Peruvian Ministerio de Energía y Minas - Oficina General de Gestión Social ("MINEM"). This submission represents a key milestone in the permitting process and includes a proposed expansion of the number of authorized drilling platforms, increasing the current limit of 20 to 40 under the new application. The upgraded DIA is a necessary step toward securing a new drill permit, which would enable exploration activities to continue for an additional five-year term as part of a broader, long-term program.
In parallel, the Company is preparing a Collective Impacts Report to support its request for exemption from the Consulta Previa ("Prior Consultation") process. The Company is also finalizing a renewed five-year surface access agreement with the host community to support the next phase of exploration and reinforcing its commitment to collaborative project development.
Drill Program
The Company is preparing to resume the Phase-III drilling program at Elida under the existing Ficha Técnica Ambiental ("FTA") environmental approval and drill permit. The Phase-III drilling program was designed to potentially expand the current pit-constrained Inferred Mineral Resource Estimate and increase overall Cu-Mo-Ag grades. The first two drill holes, completed in late 2024, intersected broad intervals of Cu-Mo-Ag mineralization starting at bedrock surface and extending to depths exceeding 1,000 m.
Notably, drill hole ELID033 intersected 1,039.6 metres grading 0.54% CuEq (0.39% Cu, 0.036% Mo, 2.96 g/t Ag), beginning at bedrock surface 69 m downhole. This included a higher-grade interval of 310.1 m averaging 0.71% CuEq (0.56% Cu, 0.04% Mo, 3.49 g/t Ag) from 799.5 m to the end of the hole at 1,109.6 m, which was terminated in higher-grade Cu-Mo-Ag mineralization due to logistical constraints (see drilling results press release - January 22, 2025).
The MT data currently being collected is expected to support and refine drill targets for the Phase-III drilling program.
CFO Transition
The Company announces that Duane Lo, Chief Financial Officer, will be stepping down from his role effective May 21, 2025. Mr. Lo will continue to support the Company through a transition period to ensure a smooth and orderly handover of responsibilities.
The Company is pleased to announce the appointment of Michael Au, currently serving as Controller, as its new Chief Financial Officer. Mr. Au is a CPA, CA with over 20 years of experience in financial and regulatory reporting, internal controls, and accounting standards. His background spans multiple sectors including mining-across both exploration and production-biotechnology, financial services, and real estate.
"Duane has been with Element 29 before it went public in 2020 and has been a key contributor to the Company's development," states President and CEO Richard Osmond. "On behalf of the entire team, I want to thank Duane for his dedication and support, and we wish him every success in his future endeavors."
Mr. Osmond continues, "We're excited to welcome Mike as our new CFO. His strong financial acumen and his already deep understanding of our business make him an ideal fit to help drive Element 29's next phase of growth and value creation."
Stock Options and Restricted Share Units Grants
The Company has granted 400,000 incentive stock options ("Options") to officers and consultants of the Company in accordance with the Company's incentive stock option plan, subject to regulatory acceptance. These Options are exercisable at $0.52 per share for a period of five years.
The Company also announces that it has granted 35,000 restricted share units ("RSUs") to officers and consultants of the Company. The RSUs are governed by the Company's RSU/DSU Plan and will be subject to applicable securities law hold periods.
Investor Relations Marketing Agreement
The Company has engaged, subject to regulatory approval, Caesar Holdings BV dba Caesars Report ("Caesars Report") to provide, for a one-year period, advertising and marketing, commencing on May 20, 2025, for a total cost of 11,000 EUR payable prior to commencement of the campaign. The services provided by the Caesars Report to the Company relate to corporate updates and written interviews distributed as a newsletter to the Caesars Report subscriber base and to be used as content for the Company's social media channels. The Company is a Caesars Report website sponsor and will have a corporate logo on the Caesars Report website starting this month and continuing for the duration of the agreement. Caesar Holdings BV is owned and operated by Thibaut Lepouttre, is an arms-length, independent contractor with offices in Belgium, and currently owns 35,000 shares of Element 29 Resources. No stock options were granted in relation to this engagement.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Richard Osmond (P.Geo.), Element 29's President and CEO, who is the "Qualified Person" as defined by National Instrument 43-101 Standards for Disclosure for Mineral Projects.
About Element 29 Resources Inc.
Element 29 is an emerging junior resource company with a highly experienced management team and board focused on exploring and potentially developing Tier-1 copper deposits in Perú, one of the lowest-cost, lowest-risk mining jurisdictions globally.
The Company's principal objective is to explore and potentially develop its Elida Porphyry Copper Deposit in west-central Perú which has an initial inferred Mineral Resource Estimate of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag at a 0.2% Cu cutoff grade and a low 0.74:1 modeled strip ratio. The Mineral Resource Estimate information is available in "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida Porphyry Copper Project in Perú" dated September 20, 2022, and prepared in accordance with Form 43-101F1 by Marc Jutras, P.Eng., M.A.Sc., Ginto Consulting Inc.
Alongside Elida, the Company has three early stage, highly prospective porphyry Cu projects in Perú for more than 25,000 hectares ("ha") of titled concession. These include the Flor de Cobre porphyry Cu-Mo prospect situated in the Southern Perú Copper Belt, just 26 km from the Cerro Verde copper mine (Freeport-Buenaventura) as well as the Paka and Pahuay porphyry Cu skarn prospects related to potential tertiary-aged, mineralized porphyry complexes intruding along the eastern margin of the Peruvian Coastal Batholith.
All projects are well located for future mine development and will benefit from nearby infrastructure including roads, powerlines, ports, water, and a skilled workforce.
More information is available at www.e29copper.com.
For more information:
Richard Osmond, P.Geo.
CEO and Director
1-888-246-7881
info@e29copper.com
Neither the TSX Venture Exchange (the "TSX-V") nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian securities legislation (collectively, "Forward-Looking Statements"). Any statements that are contained in this press release that are not statements of historical fact may be deemed to be Forward-Looking Statements. Forward-Looking Statements are frequently, but not always, identified by words such as "may", "will", "intends", "proposed", "believes", "continues", "plans", "expects" or similar expressions (or the negative and grammatical variations of any of these terms). Forward-Looking Statements in this press release include, but are not limited to, statements with respect to the Company's resource properties and future capital requirements; and the Company's plans, focus and objectives.
Forward-Looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. Although Element 29's management considers these beliefs and assumptions reasonable based on currently available information, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-Looking Statements necessarily involve known and unknown risks, and important factors, among others, that could cause actual results to differ materially from the Company's expectations include: uncertainties related to the Company's ability to access investors for the Financing; the timeliness and success of regulatory approvals; fluctuations in copper and other commodity prices; uncertainties inherent in the exploration of mineral properties; risks associated with general economic conditions; changes in legislation, income tax and regulatory matters; currency and interest rate fluctuations; inability to access sufficient capital from internal and external sources; and other risk factors set forth in the Company's prospectus under the heading "Risk Factors".
Readers are further cautioned not to place undue reliance on Forward-Looking Statements as there can be no assurances that the plans, intentions or expectations upon which they are placed will occur. The Company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Element 29 to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-Looking Statement. Any Forward-Looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
SOURCE: Element 29 Resources Inc.
PPX Continues Drilling in Callanquitas West, Obtaining 12.98 g/t Au over 0.6 m and 7.53 g/t Au over 1.05 m in CA-25-13, within a 32.35 m Intercept Grading 2.00 g/t Au
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ppx-continues-drilling-in-callanquitas-west-obtaining-12.98-g%2ft-au-over-0.6-m-and-1030334
Wednesday, 21 May 2025 11:30 AM
TORONTO, ON / ACCESS Newswire / May 21, 2025 / PPX Mining Corp. (TSX.V:PPX)(BVL:PPX)
Regulus Reports Attractive Copper Extraction Rates Using Nuton Bio-Leaching and Provides Update on Integrated Sulphide Project Resource Estimate
https://finance.yahoo.com/news/regulus-reports-attractive-copper-extraction-110000746.html
Regulus Resources Inc
Tue, May 20, 2025 at 4:00 AM PDT 5 min read
RGLSF
0.00%
VANCOUVER, British Columbia, May 20, 2025 (GLOBE NEWSWIRE) -- Regulus Resources Inc. ("Regulus" or the "Company", TSX-V: REG, OTCQX: RGLSF) is pleased to provide an update on the Phase Two metallurgical test program with Nuton LLC (“Nuton”), a Rio Tinto venture. As well, the Company is pleased to provide an update on the integrated resource estimate currently being completed with Compañía Minera Coimolache S.A. (“Coimolache”, collectively with Regulus, the “Parties”), to evaluate the integrated Coimolache Sulphide/AntaKori copper-gold project (“Integrated Sulphide Project”).
Nuton Phase Two Program
The Company continues to work with Nuton to evaluate Nuton’s proprietary sulphide bio-leaching technologies at the AntaKori project. The Phase One program identified that material from AntaKori was amenable to Nuton’s proprietary sulphide bio-leaching technology (see July 6, 2023 press release). In the Phase Two program, a variety of conditions are being evaluated, with each test column using different sets of conditions to evaluate the optimal setup for leaching AntaKori mineralization (particularly enargite-rich high-sulphidation mineralization which makes up the bulk of mineralization at the AntaKori project).
The Company is reporting on the progress of four columns today. Three of the four columns were focused on testing different conditions for enargite-rich high-sulphidation mineralization, while the other column was utilized to test chalcopyrite-dominant porphyry mineralization. The results thus far from the Phase Two program are very encouraging, as Nuton was able to achieve attractive copper extractions utilizing its Nuton bio-leaching technology on both styles of mineralization. As well, this test work has refined the understanding of which set of conditions produces attractive copper extractions for enargite-rich high-sulphidation mineralization. To date, the highest copper extraction for enargite-rich high-sulphidation mineralization is 88.3% (see Figures 1 and 2). To date, the highest copper extraction for porphyry-hosted chalcopyrite mineralization is 87.9% (see Figures 1 and 2). As mentioned previously, this phase of test work is designed to evaluate various conditions to establish the optimum additives for bio-leaching enargite-rich high-sulphidation mineralization. As such, two of the columns identified conditions that produced slower extraction rates and hence less favourable conditions than the column conditions that produced the 88.3% extraction. However, copper extractions in both of these columns continue to trend upwards. Four additional columns have since been started to further refine the optimal conditions achieved and reported here for leaching AntaKori’s enargite-rich high-sulphidation mineralization with Nuton’s bio-leaching technology. The Company will report on these additional columns when they are at or nearing completion.
Integrated Sulphide Project
Regulus and Coimolache, owner of the Tantahuatay oxide gold mine adjacent to the AntaKori project, continue to advance the Integrated Sulphide Project resource estimate. The Parties have worked collaboratively over the past several months to develop an integrated geological model effectively blending views on geology, structure and mineralization styles, which was a critical step before moving towards an integrated resource estimate. The Parties have hired SRK Peru to develop the resource estimate on the Integrated Sulphide Project and it is anticipated that the study will be completed mid-year. As per the agreement between the Parties, the results of this study can only be publicly reported or shared with third parties upon mutual agreement of the Parties.
John Black, Chief Executive Officer of Regulus, commented: “We are very encouraged by the results of the Phase Two program with Nuton. Conditions have been established under which attractive copper extraction is achieved from both high-sulphidation and porphyry mineralization utilizing Nuton’s bio-leaching technology. With several other columns underway, we continue to view Nuton’s bio-leaching technology as one of several potential processing options for mineralization at AntaKori. As well, we have made considerable progress on the integrated resource estimate with Coimolache, with the creation of an integrated geological model. SRK Peru now has all the information they need to complete the resource estimate on the Integrated Sulphide Project and we look forward to receiving the final results soon.”
Qualified Person
The scientific and technical data contained in this news release pertaining to the AntaKori project has been reviewed and approved by Dr. Kevin B. Heather, Chief Geological Officer, FAusIMM, who serves as the qualified person (QP) under the definition of National Instrument 43-101.
ON BEHALF OF THE REGULUS BOARD
(signed) "John Black"
John Black
CEO and Director
Tel: +1 (604) 685-6800
Email: info@regulusresources.com
For further information, please contact:
Regulus Resources Inc.
Ben Cherrington
Tel: +1 347 394 2728
Email: ben.cherrington@regulusresources.com
About Regulus Resources Inc. and the AntaKori Project
Regulus is an international mineral exploration company run by an experienced technical and management team. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag (independent technical report prepared by AMEC Foster Wheeler (Peru) S.A., a Wood company, titled AntaKori Project, Cajamarca Province, Peru, NI 43-101 Technical Report, dated February 22, 2019 - see news release dated March 1, 2019). Mineralization remains open in most directions.
For further information on Regulus Resources Inc., please consult our website at www.regulusresources.com.
About Nuton
Nuton is an innovative venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton is a portfolio of proprietary copper leaching technologies and capability. Nuton has the potential to economically unlock copper from hard-to-leach ores, including primary sulfides and, in doing so, increase domestic production of critical minerals to support the energy transition. Nuton technologies can achieve market-leading recovery rates and boost copper production in new, ongoing and historical operations, increasing resource utilization and maximizing their value. With significantly lower energy and water needs than conventional concentrating and smelting, and the ability to produce copper cathode at the mine site, Nuton offers a reliable source of domestically produced copper, with a short mine-to-metal supply chain and the ambition to set industry-leading ESG credentials. One of the key differentiators of Nuton is the ambition to produce the world’s lowest footprint copper while having at least one Positive Impact at each of its deployment sites, across its five pillars: water, energy, land, materials and society.
For more information please visit https://nuton.tech/.
Forward Looking Information
Certain statements regarding Regulus, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Regulus expects or anticipates will or may occur in the future, including the development of the AntaKori project described herein, and management's assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and Aldebaran does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.
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.
Figure 1
Figure 1 – Copper deportment by mineral
Figure 2 Figure 2 – Copper extractions (VO stands for volcanic-hosted, high-sulphidation, enargite-rich mineralization, PO stands for porphyry-hosted, chalcopyrite-rich mineralization).
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1ed00b4f-7f26-42b9-806a-f25de6d372be
https://www.globenewswire.com/NewsRoom/AttachmentNg/509bd861-f204-4c64-933d-71575f33afcf
Rio Silver Receives Conditional Approval for Acquisition of Mamaniña Exploraciones S.A.C.
https://www.globenewswire.com/news-release/2025/05/16/3083069/0/en/Rio-Silver-Receives-Conditional-Approval-for-Acquisition-of-Mamani%C3%B1a-Exploraciones-S-A-C.html
May 16, 2025 08:30 ET | Source: Rio Silver, Inc.
VANCOUVER, British Columbia, May 16, 2025 (GLOBE NEWSWIRE) -- Rio Silver Inc. (the “Company”) (TSX.V: RYO) (OTC: RYOOF) announces that, further to its announcement on March 26, 2025, it has received from the TSX Venture Exchange (the “Exchange”) conditional acceptance (the “Conditional Approval”) of the proposed transaction (the “Transaction”) with Peruvian Metals Corp. for the acquisition of Mamaniña Exploraciones S.A.C.
The Company is working to satisfy the remaining conditions outlined in the Conditional Approval and will be making further announcements in respect thereof including without limitation the geological report prepared in accordance with National Instrument 43-101 and other items. The Transaction remains subject to the Exchange’s final acceptance.
There can be no assurances that the conditions under the Conditional Approval will be satisfied or that the Transaction will be completed as proposed or at all.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Chris Verrico
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.
Hannan Commences Drill Program
https://www.newsfilecorp.com/release/252246/Hannan-Commences-Drill-Program
May 15, 2025 7:26 AM EDT | Source: Hannan Metals Ltd.
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") is pleased to announce drill rig has been mobilized and the Company has commenced its maiden drill program at the Belen prospect within the Company's 100%-owned Valiente copper-gold project in Peru.
Hannan Metals reaffirms its commitment to legal compliance, community respect, and environmental stewardship, emphasizing that all operations only proceed with proper authorization from local populations and with required environmental and archaeological certifications.
About Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF)
Hannan Metals Limited is a resource and exploration company discovering and developing sustainable resources of metal needed to meet the transition to a low carbon economy. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and Peru.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO Further Information
www.hannanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez, Corporate Secretary,
+1 (604) 685 9316, info@hannanmetals.com
Forward Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve 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 statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.
SOURCE: Hannan Metals Ltd.
Coppernico Confirms Large-Scale Copper Skarn System and Expands Pipeline of Priority Targets at Sombrero
https://www.globenewswire.com/news-release/2025/05/14/3081013/0/en/Coppernico-Confirms-Large-Scale-Copper-Skarn-System-and-Expands-Pipeline-of-Priority-Targets-at-Sombrero.html
May 14, 2025 07:15 ET | Source: Coppernico Metals Inc.
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF)
Palamina Channel Sampling in the Cayos Zone Returns 18.1 gpt Gold over 7 Metres at the Usicayos Gold Project
https://www.newsfilecorp.com/release/250905/Palamina-Channel-Sampling-in-the-Cayos-Zone-Returns-18.1-gpt-Gold-over-7-Metres-at-the-Usicayos-Gold-Project
May 06, 2025 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF
Camino Announces Exploration Results at Los Chapitos and Further Exploration Plans in Peru
https://www.accessnewswire.com/newsroom/en/metals-and-mining/camino-announces-exploration-results-at-los-chapitos-and-further-exploration-plan-1023899
Tuesday, 06 May 2025 06:00 AM
VANCOUVER, BC / ACCESS Newswire / May 6, 2025 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) (WKN: A116E1)
Kuya Silver Reports Operational Update from Bethania Mine as Production Ramp-Up Progresses
Q1 2025 Update Highlights Steady Production Growth and Infrastructure Upgrades
Ramp-Up Accelerates As Daily Production Throughput Doubles in Final 10 Days of April
https://www.newsfilecorp.com/release/250748/Kuya-Silver-Reports-Operational-Update-from-Bethania-Mine-as-Production-RampUp-Progresses
May 05, 2025 7:00 AM EDT | Source: Kuya Silver Corporation
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1)
Endeavour Silver Completes Acquisition of Minera Kolpa
https://www.globenewswire.com/news-release/2025/05/01/3072911/0/en/Endeavour-Silver-Completes-Acquisition-of-Minera-Kolpa.html
May 01, 2025 17:00 ET | Source: Endeavour Silver Corporation
All dollar amounts are stated in United States (U.S.) Dollars unless otherwise noted.
VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce the completion of the acquisition of Compañia Minera Kolpa S.A. (“Minera Kolpa”), and its main asset, the Huachocolpa Uno Mine (“Kolpa”), pursuant to the share purchase agreement (the “Agreement”) previously announced in the Endeavour news release on April 1, 2025.
Under the terms of the Agreement, Endeavour acquired all of the outstanding shares of Minera Kolpa, and its main asset, Kolpa, from its shareholders, which are affiliates of Arias Resource Capital Management and Grupo Raffo. The total consideration for the acquisition is $145 million, comprised of $80 million payable in cash and $65 million payable in common shares of Endeavour upon closing. In addition, as part of the transaction, Endeavour has agreed to pay up to an additional $10 million in contingent payments, payable in cash, upon the occurrence of certain events and will also add approximately $20 million in net debt which will remain outstanding and repayable by Minera Kolpa.
The Company is also pleased to announce the closing of the US$35 million copper stream with Versamet Royalties Corporation, which will be used to fund the cash component of the acquisition, along with the $50 million bought deal equity financing, the closing of which was previously announced in the Endeavour news release dated April 16, 2025.
About Kolpa
Minera Kolpa is a long-standing, silver-focused mining operation situated in the districts of Huachocolpa and Santa Ana, roughly 490 kilometers southeast of Lima, Peru. With over 25 years of continuous production, Kolpa currently operates at a capacity of 1,800 tonnes per day (tpd) and offers strong exploration upside, with plans underway to expand throughput to 2,500 tpd. In 2024, the mine produced 2.0 million ounces of silver, along with 19,820 tonnes of lead, 12,554 tonnes of zinc, and 518 tonnes of copper, totaling approximately 5.1 million silver-equivalent ounces. In Q1 2025, the mine produced 567,269 ounces of silver, along with 5,302 tonnes of lead, 3,416 tonnes of zinc, and 72 tonnes of copper, totaling approximately 1.2 million silver-equivalent ounces.
In April, Kolpa obtained an environmental permit to expand the operations capacity to 2,500 tpd and are now working toward obtaining an operating permit for the increased production capacity expected in Q3 2025.
For the remainder of the year, sustaining capital is estimated to be $13 million which includes $4 million expansion of the tailings dam, $3 million has been allocated for mine infrastructure and ramp development and $5 million on various projects.
Additionally, management has an $8 million planned exploration program to further define and potentially expand recent near-mine exploration discoveries, target potential extensions of known mineralization and publish a resource estimate.
The sustaining capital and exploration expenditures are expected to be paid from operating cash flows.
About Endeavour Silver
Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, and the development of its new cornerstone mine in Jalisco state, Terronera, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Allison Pettit
Director, Investor Relations
Email: apettit@edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding future payments under the Agreement; the Company’s forecasted operations, expenditures; the Company’s exploration programs, extensions of mineralization and the publishing of future resource estimates; and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such forward-looking statements. Such factors include but are not limited to changes in expected sustaining capital and exploration costs ; the ongoing effects of inflation and supply chain issues on mine economics; ability to continue to comply with the terms of the project debt facility; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; timing and content of work programs; results of exploration activities and development of mineral properties; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and U.S. dollar) and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form and the Prospectus Supplement filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the forecasted capacity and production estimates for the Kolpa mine, the reliability of mineral resource estimates, the continuation of exploration and mining operations, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will function and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, resource and reserve estimates, metal prices and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Solis Announces Quarterly Activities Report for the Period Ended 28 February 2025
https://www.newsfilecorp.com/release/250248/Solis-Announces-Quarterly-Activities-Report-for-the-Period-Ended-28-February-2025
April 29, 2025 8:43 PM EDT | Source: Solis Minerals Ltd. West
Leederville, Western Australia--(Newsfile Corp. - April 29, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN)
Buenaventura Announces First Quarter 2025 Results
https://www.businesswire.com/news/home/20250430762562/en/Buenaventura-Announces-First-Quarter-2025-Results
LIMA, Peru--(BUSINESS WIRE)--Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM)
Roberto Resources Reports Assay Results from Field Exploration Program
https://www.newsfilecorp.com/release/249611/Roberto-Resources-Reports-Assay-Results-from-Field-Exploration-Program
April 24, 2025 7:30 AM EDT | Source: Roberto Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2025) - ROBERTO RESOURCES INC. (CSE: RBTO
Precore Gold Granted Option to Acquire Arikepay Porphyry Gold-Copper Property in Peru
https://www.globenewswire.com/news-release/2025/04/23/3066179/0/en/Precore-Gold-Granted-Option-to-Acquire-Arikepay-Porphyry-Gold-Copper-Property-in-Peru.html
April 23, 2025 06:00 ET | Source: Precore Gold Corp.
VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) -- Precore Gold Corp. (CSE: PRCG) (the “Company” or “Precore Gold”) is pleased to announce that it has entered into a Definitive Option Agreement (the “Option Agreement”) with Alta Copper Corp. (the “Vendor”) to acquire up to a 100% interest in the Arikepay gold-copper property (the “Arikepay Property”) located in the province of Arequipa, Peru (the “Transaction”). The Arikepay Property is located about 110 km south of the city of Arequipa in southern Peru and about 45 km south of the important Cerro Verde Cu-Mo porphyry deposit, one of Peru’s largest mines with over 3 billion tonnes of ore, owned by Freeport-McMoran, SMM Cerro Verde Netherlands and Buenaventura.
Figure 1. Map of Arikepay location among major deposits in Southern Peru
The Arikepay Property is located 40 km from the Pacific Ocean in the coastal region of the Arequipa department in southern Peru. It covers an area of 1,800 ha at an average elevation of 1,200 m above sea level. The property is located within one of the most active mining regions of Peru.
Geologically, the Arikepay Property hosts a multiphased mineralized intrusive complex controlled by NW-SE faults parallel to the Incapuquio fault system and pertaining to the Cretaceous porphyry belt of southern Peru. A Cu-Au-Ag stockwork system was emplaced in a quartz feldspar porphyry and a Au-Ag-Cu event is hosted in a diorite porphyry. The multiphased complex has been recognized over an area of 2 km x 2 km and remains open laterally in all directions and at depth. A total of 13,738 meters of drilling in 32 drill holes have been completed between 2002 and 2017. Phelps Dodge drilled 4 diamond drill holes totaling 1,200 m in 2002. Cobriza Metals Peru drilled 14 reverse circulation drill holes totaling 3,630 m in 2012 and Compania Minera Zahena (“Zahena”) drilled 14 diamond drill holes totaling 8,908 m in 2016-17.
Best historical drill intercepts in the Cu-Au-Ag quartz-feldspar porphyry include*:
142 m @hallsboy-ARI-006
357 m @glenp-17
111 m @beigledog-16
Best historical drill intercepts in the Au-Ag-Cu diorite porphyry include*:
420 m @No Moderator-17
including 81 m @ 3.17 g/t Au, 2.12 g/t Ag, 0.07% Cu (3.26 g/t AuEq2) from 342 m
66 m @ 1.23 g/t Au, 0.36 g/t Ag, 0.03% Cu (1.26 g/t AuEq2) from 27 m in hole AK-DDH-02A-17
60 m @hallsboy-ARI-002
including 26 m @ 1.29 g/t Au, 4.48 g/t Ag, 0.12% Cu (1.45 g/t AuEq2) from 44 m
To date there has been no follow up on the significant gold intercept in hole AK-DDH-02-17 and it constitutes the priority target for the inaugural drilling program that Precore Gold is currently planning.
*CuEq and AuEq were calculated using the following metal prices: Au = US$3,000/oz, Cu = US$4/lb, Ag = US$32/oz
Copper equivalent formula:
1CuEq = Cu + 1.458379*Au + 0.015556*Ag (no use of Pb, Zn or Mo and recoveries were assumed to be 100%).
2Gold equivalent formula: AuEq = Au + 0.914257*Cu + 0.010666*Ag (no use of Pb, Zn or Mo and recoveries were assumed to be 100%)
Figure 2. Regional geology and major deposits in southern Peru
Figure 3. Map including best historical drill intercepts at Arikepay (Source: Enrique Bernuy 2020)
Paul Dumas, Executive Chairman of Precore Gold, comments, “We are extremely pleased for this opportunity to option the Arikepay Project, which we believe contains exciting discovery potential. Its location in Peru, one of the most prolific mining jurisdictions and one of the world’s top mineral producing countries, makes it an attractive hub for global stakeholders. Alta Copper has been laser focused on advancing their flagship project, Cañariaco, that has an initial CapEx of US$2.1B and an NPV of approximately US$2.4B as per their 2024 PEA. As a result, no exploration work has been conducted at Arikepay since 2017. We noticed, after having evaluated the project’s historical data, that the gold and copper equivalents constitute what would be fantastic grades in an open-pit scenario. We plan to initiate an exploration program in the near-future, which would follow-up on the impressive results mentioned above, obtained from the last exploration campaign in 2017.”
Mining and Mineral Exploration in Peru
Peru, long considered an important producing country in the global mining sector, is noted especially for its copper, gold, zinc and silver resources. The country has 10.2% of the world's copper reserves, 3.9% of the world’s gold reserves and 21.8% of the world’s silver reserves, as well as reserves of other significant metals, according to the most recent data published by the US Geological Survey. According to estimates, Peru’s metals and mining sector accounts for 8.5% of Peru’s GDP, while mineral exports from the country represent about 63.9% of its total exports. In 2024, Peru's mining exports reached a record US$47.7 billion, representing a 11.5% increase compared to 2023 (America Economica, February 2025). Over the last several decades, many global mining companies, such as Newmont, Barrick and Free-McMoRan, have operated Tier-1 projects in Peru. The country enjoys political stability, an investor-friendly regulatory framework, and a commitment to sustainable mining practices. With 51 projects in different stages of development, this represents a US$54.6 billion investment pipeline with a US$644 million exploration budget for 2025 (US Geological Survey 2025, Reuters).
Transaction details:
The Company has entered into the Option Agreement to acquire up to a 100% interest in the Arikepay Property. Pursuant to the Option Agreement, the Company may earn an initial 51% interest in the Arikepay Property (the “First Interest”) by:
Issuing to the Vendor 1,500,000 common shares in the authorized share structure of the Company (the “Initial Shares”) upon receiving Canadian Securities Exchange approval to the Option Agreement;
Issuing to the Vendor an additional 1,000,000 common shares within 4 months after the date of issuance of the initial shares; and
Incurring a minimum of Cdn$5,500,000 in expenditures in relation to the Property within the next 5-year period, with Cdn$1,500,000 to be incurred within the first three years; and
The Company can earn an additional 24% interest in the Arikepay Property (the “Second Interest”) (for an aggregate 75% interest) by:
Issuing to the Vendor an additional 1,000,000 common shares;
Incurring additional minimum expenditures of Cdn$3,500,000 in relation to the Property; and
Making annual cash payments to the Vendor of Cdn$75,000 during each of the five years following the fifth anniversary date of the Option Agreement, for total cash payments of Cdn$375,000.
The Company may acquire an additional 5% interest in the Arikepay Property (the “Third Interest”) (for an aggregate 80% interest) by having identified an inferred mineral resource estimate on the Arikepay Property and caused to be prepared a technical report in respect of such resource estimate.
Finally, the Company may acquire the remaining 20% interest in the Arikepay Property (for an aggregate 100% interest) by paying to the Vendor an additional Cdn$1,000,000 (or issuing the equivalent value in common shares of the Company) and granting a 1.5% net smelter return royalty in respect of the Arikepay Property.
Milestone Payments:
Under the Option Agreement, Precore Gold is obliged to make the following milestone payments to the Vendor:
Upon Precore Gold having identified an inferred mineral resource estimate of 1M oz AuEq on the Arikepay Property - Cdn$1,000,000 in cash or the equivalent value in common shares of Precore Gold;
Upon Precore Gold having identified an inferred mineral resource estimate of 2M oz AuEq on the Arikepay Property - an additional Cdn$1,000,000 in cash or the equivalent value in common shares of Precore Gold;
Upon Precore Gold having prepared or caused to be prepared a preliminary economic assessment in relation to the Arikepay Property - an additional Cdn$2,000,000 in cash or the equivalent value in common shares of Precore Gold; and
Upon Precore Gold having prepared or caused to be prepared a feasibility study in relation to the Arikepay Property - an additional Cdn$3,000,000 in cash or the equivalent value in common shares of Precore Gold.
Operator and Joint Venture Agreement:
If after Precore Gold has earned the First Interest, Second Interest or Third interest and Precore Gold has waived or abandoned its right to acquire any future interest in the Arikepay Property, the parties shall enter into a joint venture agreement (the “JV Agreement”) for the Arikepay Property that would contain market standard joint venture terms.
During the term of the Option Agreement, Precore Gold shall be the operator of the Arikepay Property and shall have the final approval authority for exploration and development programs and expenditure budgets.
The Transaction remains subject to the approval of the CSE Exchange. Any common shares of the Company issued to the Vendor pursuant to the Option Agreement will be subject to a statutory four month and one day hold period commencing on the date of issuance of such shares.
A finder’s fee of 500,000 common shares of the Company is to be paid to an arm’s length finder.
Information on historical assay results
Zahena diamond drilling was conducted on HQ and NQ sizes by Geodrill SAC. The 3 meters samples were prepared at ALS lab in Arequipa city applying the following protocol: crushing 70% passing 2mm, pulverization 85% passing 75 microns to produce a 250 g sample. The assays were conducted at ALS lab in Lima city using the following protocol: Au obtained by ICP analysis and overlimits by gravimetry + 35 elements by ICP with overlimits for Ag, As, Co, Cu, Mo, Ni, Zn and Pb reassayed by atomic absorption. A total of 9 control samples (blank, standard, pulp duplicate, reject duplicate and core duplicate) were inserted within 66 samples for a total of 75 samples per batch. (Source: Informe Final de Exploracion y Evaluacion Geologica Proyecto Arikepay por Felipe Cadenas y Jorge Cabrera, Abril 2017)
Cobriza’s program was conducted using a reverse circulation drill rig. Samples were taken every 2 meters for an average weight of 5 kg. The samples were assayed by SGS lab in Lima Peru. The 250-gram split was pulverized to -140 mesh. Gold was analyzed by fire assay with an atomic absorption finish, and silver, copper, and molybdenum values ??were assayed by ICP. A blank, standard, or duplicate sample is inserted into each batch every 25 meters. (source: Informe del prospecto Arikepay porfido cobre oro plata por O. Ramos, Julio 2012).
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, P.Eng (OIQ #107538), Lead Technical Advisor of Precore Gold, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Precore Gold Corp.
Precore Gold Corp. is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate shareholder returns. The Company plans to seize opportunities, whereby promising properties are located in prolific mining camps, may contain important historical drilling results and are located in politically stable, Tier-1, mining friendly jurisdictions. Precore Gold’s mission is supported by diligent environmental, social and corporate governance (“ESG”) standards.
For shareholder inquiries, please contact:
Paul Dumas, Executive Chairman
Email: precoregoldcorp@gmail.com
Tel: 514-994-1069
www.precoregold.com
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, future geological work or exploration programs, the potential positive exploration results, the timing of the exploration results, the ability of the Company to finance exploration programs and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/cd887c08-46c5-4940-982a-4f202c0f6553https://www.globenewswire.com/NewsRoom/AttachmentNg/1ea326a9-0223-490b-a034-edf3591dd174https://www.globenewswire.com/NewsRoom/AttachmentNg/fafbff53-d2aa-477c-8bba-43cc14f6644b
Solis Announces Additional High-Grade Copper Confirmed at Cinto, Peru
https://www.newsfilecorp.com/release/249429/Solis-Announces-Additional-HighGrade-Copper-Confirmed-at-Cinto-Peru
April 22, 2025 7:51 PM EDT | Source: Solis Minerals Ltd.
HIGHLIGHTS
More copper porphyry mineralisation identified at Cinto (100% Solis Minerals) from channel sample assays (highlights):
26.5m @ 0.28% Cu (Channel 11), including 5.4m @1.0% Cu
Previous Cinto channel sample assays returned highlights1:
23.4m @ 0.88% Cu (Channel 1)
16.8m @ 0.52% Cu (Channel 6)
Results indicate porphyry copper mineralisation of various styles across a potential area 3km long and 0.75km wide.
Induced-Polarisation (IP) survey planning underway to support drill target definition.
Permitting initiated for drilling at Cinto in second half of 2025.
Solis Minerals considers copper mineralisation at Cinto consistent with nearby Toquepala (one of Peru's largest copper mines with 2.1Bt @ 0.47% Cu - 200ktpa Cu production)2.
West Leederville, Western Australia--(Newsfile Corp. - April 22, 2025) - Latin American focused copper-gold explorer Solis Minerals Limited (ASX: SLM)
Alta Copper Announces Option Agreement on Arikepay Project
https://www.accessnewswire.com/newsroom/en/metals-and-mining/alta-copper-announces-option-agreement-on-arikepay-project-1018451
Wednesday, 23 April 2025 06:00 AM
VANCOUVER, BC / ACCESS Newswire / April 23, 2025 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ("Alta Copper" or the "Company") is very pleased to announce it has entered into a Definitive Option Agreement (the "Option Agreement") with the newly formed Precore Gold Corp. ("Precore Gold") to explore and develop the 100% owned Arikepay copper-gold project ("Arikepay Project"), comprised of three mineral concessions totaling 1,800 hectares and located about 110 km south of the city of Arequipa in southern Perú.
Under the Definitive Option Agreement, Precore Gold will have the option and right to acquire up to a 100% beneficial interest in the Arikepay Project. A summary of the terms based on 100% acquisition which is contingent upon the successful staged development of the Arikepay Project is outlined below:
Total Share Consideration of 3,500,000 common shares of Precore Gold
1.5% Net Smelter Royality
Total Cash Payments of Cdn$375,000
Milestone Payments totaling Cdn$7,000,000 comprised of:
$1,000,000 contingent on defining a mineral resource estimate of 1 million equivalent ounces;
$1,000,000 on defining a mineral resource estimate of 2 million equivalent ounces;
$2,000,000 on completion of a Preliminary Economic Assessment; and,
$3,000,000 on completion of a Feasibility Study.
Exploration Commitment of Cdn$1,500,000 between Year 1 to 3, Cdn$4,000,000 between Year 4 to 5 and a further $3,500,000 in year 6 to 10.
Cdn$1,000,000 in cash or the equivalent value in common shares of Precore Gold on the acquisition of the final 20% interest.
Giulio T. Bonifacio, Executive Chair and CEO, commented: "We are very pleased to have entered into an option agreement on our Arikepay gold-copper project, originally acquired by Alta Copper in 2006. Arikepay is a highly prospective asset with significant upside, as demonstrated by past drilling. Given Alta's primary focus on advancing the Cañariaco copper project, more fully described below, this option agreement represents a strategic move to maximize shareholder value on what is a very prospective project. We are very pleased to see Precore Gold take the lead in advancing Arikepay which is backed by top-tier mining professionals with a strong track record of success."
Detailed Summary of Option Terms:
First 51% Interest
Precore Gold would have the option to acquire an initial indirect 51% beneficial interest in the Arikepay Project by:
Issuance of 1,500,000 common shares of Precore Gold (the "Initial Shares") upon receiving Canadian Stock Exchange approval of the Option Agreement followed by the issuance of a further 1,000,000 common shares within four months of the issuance of the Initial Shares;
Incurring the following minimum expenditures:
Cdn$1,500,000 within the first 3 years; and
Cdn$4,000,000 in total during year 4 and year 5.
All expenditures may be accelerated at the option of Precore Gold (dependent on required permitting).
Second 24% Interest
Precore Gold would have the option to acquire an additional indirect 24% beneficial interest in the Arikepay Project by:
Issuance of 1,000,000 common shares of Precore Gold;
Incurring a minimum of Cdn$3,500,000 in expenditures; and
Making consecutive cash payments from year 6 to 10 in the amount of Cdn$75,000 per year.
Third 5% Interest
Precore Gold would have the option to acquire an additional indirect 5% beneficial interest in the Arikepay Project by:
Having identified an inferred mineral resource estimate (Maiden Resource Estimate ("MRE") prepared in accordance with the requirements set out in National Instrument 43-101.
Remaining 20% Interest
Precore Gold would have the option to acquire the remaining indirect 20% beneficial interest in the Arikepay Project by:
Paying an additional Cdn$1M in cash or the equivalent value in common shares of Precore Gold; and
Granting 1.5% net smelter returns royalty in respect of the Arikepay Project.
Milestone Payments:
Precore Gold would have further milestone payment obligations as follow:
Identifying an MRE of 1M oz AuEq = Payment of Cdn$1M in cash or the equivalent value in common shares of Precore Gold;
Identifying an MRE of 2M oz AuEq = Additional payment of Cdn$1M in cash or the equivalent value in common shares of Precore Gold;
Preliminary Economic Assessment = Cdn$2M in cash or the equivalent value in common shares of Precore Gold; and
Feasibility Study = $3M in cash or the equivalent value in common shares of Precore Gold.
Joint Venture Agreement and subsequent expenditures and funding:
After Precore Gold has:
earned the First Interest, and Precore Gold has waived or abandoned its right to acquire the Second Interest;
earned the Second Interest, and Precore Gold has waived or abandoned its right to acquire the Third Interest; or
earned the Third Interest, Precore Gold (or a subsidiary thereof) and Alta Copper (or a subsidiary thereof) would enter into a joint venture agreement (the "JV Agreement") for the Arikepay Project that would contain market standard joint venture terms.
Each party would then contribute on a pro rata basis to the further development of the Arikepay Project as may be determined and proposed by a management committee established in accordance with the terms of the JV Agreement which would contemplate at the minimum, a party's representation on the management committee in proportion to its interest in the Arikepay Project.
Should either party decide not to contribute any part of its pro rata portion of any further work then its interest would be diluted on a pro rata basis using a formula based on the total expenditures on the Arikepay Project. Precore Gold shall have the right of first refusal to acquire Alta Copper's interest in the Arikepay Project.
During the term of the Option Agreement, Precore Gold shall be the operator of the project and shall have the final approval authority for exploration and development programs and expenditure budgets.
The issuance of common shares pursuant to the Option Agreement is subject to approval by the Canadian Securities Exchange. Any common shares issued pursuant to the Option Agreement will be subject to a statutory four month and one day hold period commencing on the date of issuance of such common shares pursuant to applicable Canadian securities laws.
Don Gregorio Project
Alta Copper has terminated its Joint Venture Option Agreement and Assignment Agreement with Forte Minerals Corp. These agreements were related to the Don Gregorio copper-gold porphyry project, which is 100% owned by Alta Copper. The project comprises a single mineral concession covering 900 hectares, located roughly 140 km north-northeast of Chiclayo and about 40 km north of Alta Copper's Cañariaco Norte project, within the Cajamarca department of northern Perú.
Following the termination of the agreements, Alta Copper plans to advance the Don Gregorio project either independently or through a new option agreement with what are expected to be improved terms. The company is currently in discussions with several interested parties which further emphasizes Don Gregorio's geological potential.
About Alta Copper
Alta Copper is focused on the development of its 100% owned Cañariaco advanced staged copper project. Cañariaco comprises 91 square km of highly prospective land located 102 km northeast of the City of Chiclayo, Peru, which includes the Cañariaco Norte deposit, the Cañariaco Sur deposit and the Quebrada Verde prospect, all within a 4 km NE-SW trend in northern Peru's prolific mining district. Cañariaco is one of the largest copper deposits in the Americas not held by a major.
The Company's Preliminary Economic Assessment ("PEA"), filed on June 10, 2024 highlights that the Cañariaco Norte deposit has a measured and indicated resource containing 9.3 billion pounds of copper; 2.1 million ounces of gold and 60.4 million ounces of silver within 1.1 billion tonnes with a copper equivalent grade of 0.42% and a further 2.4 billion pounds of copper; 520,000 ounces of gold and 16.9 million ounces of silver within 416 tonnes with a copper equivalent grade of 0.29%. The PEA also highlights that the Cañariaco Sur deposit has an inferred resource containing 2.5 billion pounds of copper; 1.3 million ounces gold; 17.6 million ounces of silver and 24 million pounds of Moly within 474 million tonnes with a copper equivalent grade of 0.29%.
Please refer to the technical report dated June 10, 2024 and titled "NI 43-101 Technical Report on Preliminary Economic Assessment," prepared by Ausenco Engineering Canada ULC available on the Company's website and on SEDAR+ at www.sedarplus.ca under the Company's profile.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements with respect to the timeline, resources expansions and impact on PEA economics. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
On behalf of the Board of Alta Copper Corp.
"Giulio T. Bonifacio" Executive Chair & CEO
For further information please contact:
Giulio T. Bonifacio
gtbonifacio@altacopper.com
+1 604 318 6760
Email: info@altacopper.com
Website: www.altacopper.com
X: https://X.com/Alta_Copper
LinkedIn: https://www.linkedin.com/company/altacopper/
Facebook: https://www.facebook.com/AltaCopperCorp
Instagram: https://www.instagram.com/altacopper/
YouTube: https://www.youtube.com/@AltaCopper
SOURCE: Alta Copper Corp.
Silver X Reports Significant Operational and Financial Improvement for the Full-Year and Fourth Quarter of 2024
Audited Financial Results show Positive 12-Month EBITDA of US $1.7M
https://www.accessnewswire.com/newsroom/en/metals-and-mining/silver-x-reports-significant-operational-and-financial-improvement-for-the-full-y-1018289
Tuesday, 22 April 2025 08:00 PM
(All dollar amounts expressed in US dollars unless otherwise noted)
VANCOUVER, BC / ACCESS Newswire / April 22, 2025 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX
GoldMining Identifies Significant Antimony Mineralization Including 2.79 g/t AuEq (0.71 g/t Au and 0.59% Sb) over 79 metres and 1.91 g/t AuEq (1.56 g/t Au and 0.10% Sb) over 128 metres at its 100% Owned Crucero Project
https://www.newswire.ca/news-releases/goldmining-inc-identifies-significant-antimony-mineralization-including-2-79-g-t-aueq-0-71-g-t-au-and-0-59-sb-over-79-metres-and-1-91-g-t-aueq-1-56-g-t-au-and-0-10-sb-over-128-metres-at-its-100-owned-crucero-project-863230300.html
News provided by GoldMining Inc. Apr 23, 2025, 06:00 ET
VANCOUVER, BC, April 23, 2025 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG
Hannan Receives Governmental Approval for Drill Pad Construction at the Belen Prospect, Valiente Project, Peru
https://www.newsfilecorp.com/release/248888/Hannan-Receives-Governmental-Approval-for-Drill-Pad-Construction-at-the-Belen-Prospect-Valiente-Project-Peru
April 17, 2025 6:30 AM EDT | Source: Hannan Metals Ltd.
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2025) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") is pleased to announce it has commenced site access preparation at its Belen prospect at the Company's 100%-owned Valiente copper-gold project in Peru (Figure 1). This follows the receipt of the Authorization for Exploration Activities permit from the Ministry of Mines (MINEM) announced in February 2025.
Highlights:
Access preparation work has begun at the Belen prospect following receipt of the Authorization for Exploration Activities permit
Drill contract expected to be signed within the next week
Drilling to commence in early May 2025 during the start of the dry season
Program will utilize up to 40 permitted platforms to test three key prospects (Figure 2):
Ricardo Herrera copper-gold porphyry (15 platforms)
Vista Alegre epithermal gold target (12 platforms)
Sortilegio copper-gold porphyry (13 platforms)
Michael Hudson, Executive Chairman and CEO, states: "The commencement of access preparation marks a major milestone for Hannan as we prepare to launch our maiden drill program at Belen. This is the culmination of our systematic mineral prospecting approach since discovering this new copper-gold belt in 2021. With all necessary permits now in place, we're excited to begin testing the extensive porphyry copper-gold and epithermal gold mineral systems across Ricardo Herrera, Vista Alegre, and Sortilegio for the first time.
"The drilling preparatory work at Belen is proceeding while we continue prospecting the significant Previsto gold find, located 20 km to the northwest, where we recently identified continuous outcrop of alkalic-type epithermal gold mineralization."
Project Overview
The Belen prospect (Figure 2) is situated within Hannan's Valiente project, which has identified a new Miocene-age porphyry copper-gold belt in Peru's central eastern region. Recent geophysical surveys have defined significant anomalies at all three main targets:
At Ricardo Herrera, a substantial chargeability anomaly extends over 1,000 m by 250 m, coinciding with outcropping porphyry-style copper-gold mineralization within a multi-stage calc-alkaline intrusion. Surface mineralization shows moderate to strong phyllic and intermediate argillic alteration with both magnetite-bearing, quartz-biotite, and quartz-K-feldspar veining (Figure 3).
The Vista Alegre epithermal gold prospect features a 2.4 km long geophysical anomaly with two distinct signatures: a high chargeability-low resistivity zone coinciding with gold-in-soil anomalies up to 0.23 ppm, and high chargeability-high resistivity zones associated with mineralized quartz boulders assaying up to 1.98 g/t Au (Figure 4).
At Sortilegio, a 1.2 km long chargeability anomaly has been identified within an alkalic porphyry system, characterized by zoned and structurally controlled mineralization of shallow gold target and three alkalic Cu-Au target within a 1.2km long trend. The central mineralized zone measures 350 m × 350 m with high-density stockwork veining (Figure 5).
The Belen prospect represents approximately 4% of Hannan's total Valiente landholding, where the Company has identified 18 copper-gold porphyry and epithermal systems across a 140 km x 50 km area in Peru's back-arc region.
The Company is also pleased to announce that, further to its news release of March 17, 2025, it has completed the acceleration (the "Acceleration") of the expiry date of common share purchase warrants of the Company (the "Warrants") issued on May 9, 2023 as part of a private placement financing. Pursuant to the Acceleration, the Company has issued 3,512,230 common shares (the "Common Shares") of the Company at an exercise price of $0.35 per Common Share for total proceeds of C$ $1,229,280.50. As at the date of this news release, there are 124,859,705 common shares issued and outstanding.
About Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF)
Hannan Metals Limited is a resource and exploration company discovering and developing sustainable resources of metal needed to meet the transition to a low carbon economy. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and Peru.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO Further Information
www.hannanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez, Corporate Secretary,
+1 (604) 685 9316, info@hannanmetals.com
Forward-Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve 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 statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.
Figure 1
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Figure 2
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Figure 3
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Figure 4
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Figure 5
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SOURCE: Hannan Metals Ltd.
Buenaventura Announces First Quarter 2025 Results for Production and Volume Sold per Metal
https://www.businesswire.com/news/home/20250416760589/en/Buenaventura-Announces-First-Quarter-2025-Results-for-Production-and-Volume-Sold-per-Metal
LIMA, Peru--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM),
Palamina: Winshear Gold Returns the Gaban Gold and Ica Copper Gold Projects in Peru
https://www.newsfilecorp.com/release/248379/Winshear-Gold-Offers-to-Return-the-Gaban-Gold-and-Ica-Copper-Gold-Projects-in-Peru-Back-to-Palamina
April 14, 2025 8:00 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - April 14, 2025) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) On April 11, 2025 Palamina received notice from Winshear Gold Corp. (TSXV: WINS) that they have offered to return 100% ownership of the Gaban Gold and Ica Copper Gold projects to Palamina as per the May 14, 2019 purchase and sale agreement. Palamina has advised Winshear that it intends to take back ownership of both projects. Palamina is conducting a review of the claim blocks for both properties and may only retain a portion of the claims.
Andrew Thomson, President of Palamina commented, "We would like to thank Winshear for their work in Peru advancing these two projects. The Gaban Gold project has seen a significant investment where a 1,005 metre inaugural drill program in late 2025 returned 4 metres of 5.04 g/t gold and 21 metres of 1.29 g/t gold in shales in the two southernmost drill holes in the Coritiri zone. The drill program was cut short due to the early advance of the rainy season where drilling did not intercept any quartz veins. Further drilling is warranted to test the main Coritiri mineralized zone to the west and to drill test the quartz vein system mined at the turn of the 19th century. The Coritiri zone is fully permitted for drilling. At the Ica Copper Gold project the most recent drone airborne geophysical survey has identified numerous follow up target areas for exploration where no drilling has ever been conducted."
Gaban Gold Project
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The Gaban Gold project is in the Puno Orogenic Gold Belt in southern Peru, approximately 80 km northwest of Palamina's flagship Usicayos project. The project is easily accessible along the paved interoceanic highway. As with Palamina's Usicayos and Minera I.R.L.'s nearby Ollachea gold project, Gaban is hosted in metamorphosed Paleozoic sedimentary rocks and gold occurs in quartz veins and in shear zones likely developed during the Hercynian orogeny.
The Ica Copper Gold project is located approximately 50 km east of the city of Ica, a major city in southern Peru servicing Peru's agribusiness industry. The project is located within the Coastal Iron Oxide Copper Gold (IOCG) Belt, where multiple quartz-magnetite-pyrite-chalcopyrite +/- tourmaline +/- potassium feldspar veins and veinlets are being mined in small workings, and a small-scale copper-gold mine is in production on nearby third party concession.
Technical Information
The technical information herein has been reviewed and approved by Alvaro Fernandez-Baca (P. Geo.); a Qualified Person as defined by National Instrument 43-101. Mr. Fernandez-Baca is Vice President of Exploration to Palamina.
About Palamina Corp.
Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in southeastern Peru. Palamina is adding value through drill discovery at its Usicayos gold project. Palamina also has an "acquire and hold" strategy with copper silver assets in southeastern and northeastern Peru. Palamina retains a 15.4% equity interest in Winshear Gold Corp. (TSXV: WINS). Palamina has 71,634,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB Venture Market under the symbol PLMNF.
On Behalf of the Board of Directors:
Andrew Thomson, President
Phone: (416) 204-7536 or visit www.palamina.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-Looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-Looking statements include, but are not limited to, the Company's future business and exploration plans. Forward-Looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedarplus.ca.
SOURCE: Palamina Corp.
Minera IRL Provides Corporate Update and Announces Receipt of Failure to File Cease Trade Order
https://www.globenewswire.com/news-release/2025/04/10/3059334/0/en/Minera-IRL-Provides-Corporate-Update-and-Announces-Receipt-of-Failure-to-File-Cease-Trade-Order.html
April 10, 2025 09:24 ET | Source: Minera IRL Limited
LIMA, Peru, April 10, 2025 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) provides a corporate update and outlines the steps being taken to complete the 2024 audit and file its annual consolidated financial statements, management’s discussion and analysis, annual information form, and the required certifications (the “Annual Filings”).
Davidson & Company LLP (“Davidson”), ratified as our new auditors at the last Annual General Meeting, is currently conducting its first audit for the Company on a consolidated basis, including our Peruvian subsidiaries. This process involves collaboration with the auditors of our subsidiaries, adding complexity due to the need to align procedures between Canada and Peru.
As part of the 2024 audit, Davidson is also addressing the disclaimer of opinion issued by the Company’s former auditors on the 2023 annual consolidated financial statements. This re-audit is necessary to ensure the accuracy of our financial statements and to meet the standards of National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards. This approach to re-audit the 2023 financials also reflects our commitment to transparency as we advance negotiations with potential investors regarding the objective of completing a business transaction for our flagship Ollachea Gold Project.
While every effort was made to complete the audit and file on or before the prescribed filing deadline of March 31, 2025, the audit has taken longer than anticipated. Amid ongoing audit efforts, we have maintained – and continue to maintain – open communication with the British Columbia Securities Commission, which has issued a Failure to File Cease Trade Order (“FFCTO”) effective April 4, 2025, as defined in National Instrument 14-101 Definitions, and National Policy 11-207 Failure-to-File Cease Trade Orders.
We are fully committed to completing the audit as soon as possible and anticipate that we will be in the position to complete the Annual Filings on or before April 30, 2025.
We want to assure our shareholders that there is no underlying operational issue with the Company, and the FFCTO will be lifted promptly once the required Annual Filings are made. We appreciate your continued support as we work to resolve this matter.
On behalf of the Board of Directors of Minera IRL Limited
Gerardo Pérez
Executive Chairman
Diego Benavides
CEO and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Minera IRL Limited
Susan Gabbie
Manager, Communications
+51 1 418 - 1230
Pedro Valdez
Head of Investor Relations
+51 1 418 - 1230
Cautionary Statement on Forward-Looking Information
Certain information in this news release, including the Company’s expectation that the audit will be completed as soon as possible and that the Annual Filings will be made on or before April 30, 2025, constitutes “forward-looking statements”. Forward-looking statements are based upon assumptions. While management believes these assumptions and statements are reasonable in context, forward-looking statements are inherently subject to political, legal, regulatory, business and economic risks, unanticipated delays with respect to the accounting and audit process, and competitive uncertainties and contingencies. The Company cautions readers that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and future performance to be materially different than those expected or estimated future results, performance or achievements and that forward-looking statements are not guarantees of future performance, results or achievements.
The Company assumes no obligation, except as may be required by law, to update or revise them to reflect new events or circumstances.
Cerro de Pasco Resources Announces Consolidated Assays of the Drilling Campaign at Quiulacocha Tailings Project, Confirms High-Grade Mineralization, including Significant Gallium Concentrations
https://www.globenewswire.com/news-release/2025/04/09/3058313/0/en/Cerro-de-Pasco-Resources-Announces-Consolidated-Assays-of-the-Drilling-Campaign-at-Quiulacocha-Tailings-Project-Confirms-High-Grade-Mineralization-including-Significant-Gallium-Con.html
April 09, 2025 07:30 ET | Source: Cerro de Pasco Resources
MONTREAL, April 09, 2025 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (TSX.V: CDPR) (OTCQB: GPPRF) (FRA: N8HP)
Forte Minerals Provides Update on Planned Drill Program at Pucarini High-Sulfidation Gold Project
https://www.globenewswire.com/news-release/2025/04/11/3060106/0/en/Forte-Minerals-Provides-Update-on-Planned-Drill-Program-at-Pucarini-High-Sulfidation-Gold-Project.html
April 11, 2025 09:15 ET | Source: Forte Minerals Corp
VANCOUVER, British Columbia, April 11, 2025 (GLOBE NEWSWIRE) -- Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA) is pleased to provide an update on its planned 1,500-metre diamond drill program at its 100%-owned Pucarini Gold Project (“Pucarini” or the “Project”) located in the Southern Peru Miocene High-Sulfidation Epithermal Gold Belt. The program is set to commence towards the end of Q2 2025 with preparations currently underway.
Figure 1 – High Sulphidation Epithermal Gold Targets from Gold Geochemistry and Surface Alteration Geology.
Figure 2 – Proposed Geological Model Along Section Line A-A’ in Figure 1(Looking NE) with High Sulphidation Epithermal Gold and Porphyry Copper-Molybdenum Targets.
Planned Drill Program Overview
The upcoming five-hole, 1,500-metre drill program will systematically test high-priority targets identified through geological mapping, geophysical surveys, and geochemical analysis.
Target Type: High-Sulfidation Epithermal Gold
Drill Holes: 5 diamond drill holes
Total Metres: 1,500 m
Permitting Status: DIA Environmental Drilling Permit approved (September 2023)
Community Support: Strong relationships established with local communities, One year Community Agreement executed March 1, 2025
Figure 3 – Proposed Drill Program – Gold Geochemistry Imposed on the 3D Inversions of IP Chargeability-Resistivity and Magnetic Susceptibility Geophysical Data.
The 1,000-hectare Pucarini claim hosts multiple gold-bearing advanced argillic alteration zones within a 3.6 x 1.8 km alteration footprint. Surface geochemistry has returned anomalous gold values coinciding with resistivity, chargeability, and magnetic anomalies, highlighting multiple untested targets for drilling. The main target indicated by the soil and rock gold anomaly spans 1.2 km x 700 m within this advanced argillic alteration zone. The coincidence of gold, molybdenum, and copper surface anomalies is supported by a coherent high chargeability anomaly (> 18 mV/V) from the 3D inversion of the IP geophysical survey data with dimensions of 1.5 km along strike x 600 m wide x 400 m deep; to detection limit depth of the IP geophysical survey, which remains open at depth.
The main target also coincides with a high magnetic susceptibility anomaly in the system's center from the 3D inversion of the surface total magnetic intensity geophysical data, suggesting the roots of a deeper porphyry system. This program will mark the first-ever drill program on the property, unlocking its untapped potential.
Figure 4 - Proposed Drill Program – Molybdenum Geochemistry Imposed on the 3D Inversions of IP Chargeability-Resistivity and Magnetic Susceptibility Geophysical Data.
Surface rock fragments were analysed using the ASD TerraSpec® mineral spectrometer (“TerraSpec”) which is optimally designed to identify important hydrothermal alteration minerals commonly associated with high sulphidation epithermal gold and porphyry copper systems. Figure 5 provides a compilation of the TerraSpec data where higher-temperature hydrothermal alteration minerals (diaspore, illite, paragonitic illite, muscovitic illite, paragonite, muscovite, sericite, and alunite-Na) and lower-temperature alteration minerals (alunite, alunite-K, alunite-KNa, halloysite, kaolinite, smectite, montmorillonite, and dickite) correlate with high sulphidation advanced argillic alteration and anomalous gold in rock and soil geochemistry. The higher temperature hydrothermal alteration minerals also correlate with anomalous molybdenum in rock and soil geochemistry suggesting a phyllic alteration zone associated with a telescoped porphyry system.
Figure 5 – Gold and Molybdenum Rock and Soil Geochemistry Correlated with Gridded Low and High Temperature TerraSpec Data
CEO Patrick Elliott commented: “We are excited about the potential at Pucarini and are finalizing preparations for our inaugural drill program. Given the strong surface geochemistry, extensive alteration, and compelling geophysical signatures, we believe this project presents a promising opportunity for discovery. While waiting for the rainy season to conclude before mobilizing, our team is actively engaged in planning and ensuring all logistics are in place for a successful program.”
Figure 6 – Gold Rock Geochemistry, Vuggy Silica, Iron Oxides and Hydrothermal Alteration.
Furthermore, the Company has terminated the option agreement with Alta Copper Corp. originally entered into on June 26, 2017. Pursuant to the option agreement, Forte had an option to acquire a 60% interest in the Don Gregorio Cu-Au Porphyry Project located in the Department of Cajamarca, Northern Peru by making cash payments totaling $500,000 USD ($100,000 was paid by Forte) and performing 10,000 m of drilling within 3 years of acquiring drill permits. Due to insurmountable community issues, access to the property was never granted, and the Company was not able to perform the environmental studies needed to acquire the DIA drilling permits, including community approvals for the DIA drill permits. The project was returned in good standing to Alta Copper Corp’s Peruvian subsidiary Cobriza Metals. A termination agreement was executed April 8th, 2025.
QUALIFIED PERSON AND NI 43-101 DISCLOSURE
Richard Osmond, P.Geo., is the Company’s Qualified Person (“Qualified Person”) as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.
ABOUT FORTE MINERALS CORP
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (“Cu”) and gold (“Au”) assets in Perú. Our strategic partnership with GlobeTrotters Resources Perú S.A.C. (“GTR”) grants us access to a comprehensive project pipeline, enabling us to target the most promising opportunities. This collaboration focuses on historically discovered, drill-ready targets, driving significant value in Cu and Au resource development.
On behalf of FORTE MINERALS CORP.
(signed) “Patrick Elliott”
Chief Executive Officer
For further information, please contact:
Forte Minerals Corp.
office: 604-983-8847
info@forteminerals.com
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8aa724a4-5df5-4511-ad56-1f339d8ef6db
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Solis Announces Drilling to Commence at Chancho al Palo, Peru
HIGHLIGHTS
Solis Minerals has received approvals to commence drilling at its copper-gold project Chancho al Palo (100% ownership) in Peru.
Leading Peruvian drilling contractor to commence a 7,500-meter diamond drilling campaign of copper-gold targets. Drilling is anticipated to begin imminently.
Drilling permits for the Company's other drill-ready target, Ilo Este (100%), are expected in the coming weeks.
Assay samples will be processed at ALS Global's laboratory in Lima, Peru, a leading facility in geochemical analysis.
The commencement of drilling at Chancho al Palo, followed by Ilo Este, alongside continued target identification across the Company's highly prospective copper-gold projects, is expected to generate strong news flow throughout 2025.
Solis Minerals is committed to its objective of identifying copper-gold resources that have potential to host large-scale mining in one of the world's leading copper producing regions.
https://www.newsfilecorp.com/release/247681/Solis-Announces-Drilling-to-Commence-at-Chancho-al-Palo-Peru
April 07, 2025 7:30 PM EDT | Source: Solis Minerals Ltd.
Perth, Western Australia--(Newsfile Corp. - April 7, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) ("Solis Minerals" or the "Company") is pleased to announce the receipt of permits to commence drilling at its Chancho al Palo project in southern Peru. The program will begin with approximately 5 drill holes, totalling 2,500 meters, with scope for expansion.
The commencement of drilling firstly at Chancho al Palo, and shortly Ilo Este, delivers on commitments made in support of the recently announced placement of A$4.5 million[1]. The Company plans to drill these targets in parallel once all approvals have been granted which will provide a period of strong news flow in support of Solis Minerals' objective of identifying copper-gold resources in southern Peru that have the potential to host large-scale mining.
Solis Minerals' exploration drill targets are located near the coast, exhibit promising mineralisation at surface – particularly Ilo Este, and benefit from access to critical infrastructure essential for future mining operations. Elevations do not exceed 1,100 metres. The region hosts several major international copper mining companies in production or with advanced projects including Southern Copper, Teck and Anglo American. The Company's targets are analogous to AusQuest Limited's (ASX: AQD) Cangallo exploration prospect in southern Peru where wide zones of copper mineralisation have been discovered.
Chief Executive Officer, Mitch Thomas, commented:
"Drilling commencement at Chancho al Palo marks the start of an exciting phase of growth for the Company. Following 12 months of detailed technical and permitting work by the experienced Solis Minerals team, targets will now be tested through a diamond core drilling program of up to 7,500 meters in Southern Peru.
"Chancho al Palo and Ilo Este exhibit strong potential to contain large scale porphyry and iron oxide copper-gold ("IOCG") systems consistent with nearby operating mines. Solis Minerals expects to deliver a steady stream of updates over the next two to four months as assay results become available.
"With copper prices nearing US$10,000 per tonne and gold surpassing US$3,000 per ounce —both near all-time highs — this is an optimal time for exploration. We aim to leverage this strong macroeconomic environment to drive shareholder value."
Figure 1: Ilo region of the Department of Moquegua, Peru showing Solis Minerals' exploration project areas including Ilo Este, Chancho al Palo, Cinto and Chocolate as well as exploration ground held by major mining companies. Values for operations and projects sourced from company websites[2].
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/247681_solisimage.jpg
Chancho al Palo (100%)
The project comprises four contiguous concessions situated within the Southern Coastal Belt of Peru (Figure 1). Geophysical surveys, including drone magnetometry and induced polarisation (IP) studies, have identified significant chargeability targets, with albeit limited surface exposure confirming copper mineralisation. Two primary mineralisation styles have been identified: (i) the western section of the project area is prospective for IOCG mineralisation, (ii) while the eastern section demonstrates potential for porphyry-style mineralisation.
Next steps
Drilling is expected to commence shortly at Chancho al Palo. A leading local drilling company has been engaged. Assaying will be carried out at ALS Global in Lima, Peru.
In parallel, permit approvals to commence drilling 5,000-meter program at Ilo at Este are being finalised. These are expected as soon as the end of April 2025. Drilling is then planned take place concurrently between Chancho al Palo and Ilo Este following granting of all approvals. This maiden drilling programme delivers on Solis Minerals objective of identifying copper-gold resources that have potential to host large-scale mining in one of the world's leading copper producing regions.
ENDS
This announcement is authorised by Mitch Thomas, Chief Executive Officer of Solis Minerals Ltd.
Contact
Mitch Thomas
Chief Executive Officer
Solis Minerals Limited
+61 458 890 355
Media & Broker Enquiries:
Fiona Marshall & Jason Mack
White Noise Communications
fiona@whitenoisecomms.com
jason@whitenoisecomms.com
+61 400 512 109
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
About Solis Minerals Limited
Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Southern Coastal Belt of Peru and currently holds 81 concessions totalling 69,200 Ha. 47 concessions are fully granted (39,000 Ha) and 34 concessions are being processed (30,200 Ha).
The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis Minerals is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis Minerals, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region.
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers 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, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Qualified Person Statement
The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101). Michael Parker is Technical Director of the Company.
Competent Person Statement
The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is a contractor to Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves." Mr Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement.
[1] Refer to (ASX: SLM) announcement 26 February 2025: '$4.5 MILLION PLACEMENT BOLSTERS FUNDING AHEAD OF DRILLING IN COPPER-RICH REGION OF PERU.'
[2] Nearby properties and projects is for information purposes only and there are no assurances the company would achieve the same results at its projects.
SOURCE: Solis Minerals Ltd.
Hannan Extends High-Grade Gold Mineralization at Previsto in Peru
https://www.newsfilecorp.com/release/247557/Hannan-Extends-HighGrade-Gold-Mineralization-at-Previsto-in-Peru
April 07, 2025 6:30 AM EDT | Source: Hannan Metals Ltd.
Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) - Hannan Metals Limited's (TSXV: HAN) (OTC Pink: HANNF
Peruvian Metals Achieves Record Throughput for the First Quarter of 2025 at Aguila Norte Processing Plant
https://www.newsfilecorp.com/release/247204/Peruvian-Metals-Achieves-Record-Throughput-for-the-First-Quarter-of-2025-at-Aguila-Norte-Processing-Plant
April 03, 2025 7:30 AM EDT | Source: Peruvian Metals Corp.
Edmonton, Alberta--(Newsfile Corp. - April 3, 2025) - Peruvian Metals Corp (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") announces production results for the first quarter of 2025 at its 80-per-cent-owned Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the first quarter of 2025, the Plant completed several mineral campaigns processing a total of 9,168 metric tonnes (mt). Production in the first quarter was at full capacity and exceeded production levels in the first quarter of 2024 (6,624 mt) by more than 38 per cent. The Company is extremely pleased with the record first quarter production at a time when the rainy season in Peru has affected mining operations.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, comments: "We are extremely pleased to record our best first quarter at Aguila Norte. Normally, this is a time when Peruvian miners and explorers are affected by the rainy season with less mineral available. We fully expect that production levels will be maintain at these levels for the remainder of the year and expect a record year in 2025."
The Aguila Norte processing plant has an environmental permit (IGAC) from the Peruvian government that provides the plant with the ability to expand operations past the current 100-tonne-per-day level. Jeffrey Reeder, P.Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.
Qualified Person
Jeffrey Reeder, P. Geo., is the Qualified Person, as defined in National Instrument 43-101, who has reviewed and approved the technical contents of this release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to provide clients with toll milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Company with the ability to expand operations past the current 100 tonnes per day level. The Company continues to acquire and develop precious and base metal properties in Peru.
ON BEHALF OF PERUVIAN METALS
CORP.
(Signed) Jeffrey Reeder
For additional information, contact:
Jeffrey Reeder, C.E.O.
Telephone: (647) 302-3290
Email: jeffrey.reeder@peruvianmetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-Looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions, and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
SOURCE: Peruvian Metals Corp.
Endeavour Silver Announces Expansion into Peru with Acquisition of Minera Kolpa, Copper
https://www.globenewswire.com/news-release/2025/04/01/3053179/0/en/Endeavour-Silver-Announces-Expansion-into-Peru-with-Acquisition-of-Minera-Kolpa-Copper-Stream-and-Bought-Deal-Financing.html
Stream and Bought Deal Financing April 01, 2025 07:12 ET | Source: Endeavour Silver Corp.
The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be accessible within two business days, through SEDAR+
All dollar amounts are stated in United States (U.S.) Dollars unless otherwise noted.
VANCOUVER, British Columbia, April 01, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR)
PPX Mining Announces Production Completion of Major Plant Equipment for its Plant Under Construction
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ppx-mining-announces-production-completion-of-major-plant-equipment-for-its-plant-1005780
Wednesday, 26 March 2025 03:30 PM
TORONTO, ON / ACCESS Newswire / March 26, 2025 / PPX Mining Corp. (TSX.V:PPX)(BVL:PPX) (the "Company" or "PPX") is pleased to announce that major plant equipment purchased from Shandong Xinhai Mining Technology & Equipment Inc. ("Xinhai") is now ready to ship. As disclosed in previous releases, PPX is currently building a 350 tpd CIL & Flotation plant at its Igor Project, located in Peru.
The equipment includes:
All crushing plant units, feeder, jaw crusher, cone crusher vibrating screen and conveyors. This equipment will reduce the mined ore to a particle size of less than 12 mm.
Metal detectors and an electromagnet. This auxiliary equipment will remove any tramp steel.
A belt weigh scale.
Two ball mills, 7 feet in diameter and 12 feet long. The order also includes mill overflow pumps, cyclones and a thickener to further reduce the ore particle size to 80% less than 150 microns. The usage of this equipment is to liberate the gold and silver minerals. Oxide ore will be subsequently leached in a carbon in leach circuit, with an expected recovery of 85-90% gold and 50-60% silver. In the case of sulfide ore, the liberated minerals are recovered by flotation producing a high silver and gold content concentrate that has a ready market.
Flotation cells have also been purchased, together with a filter press to recover flotation concentrate as a filter cake. Pumps and a thickener are also ready to ship.
All major motors (for mills and the crushers) are manufactured by WEG or Siemens.
The leach tanks and agitators will be supplied by a Peruvian company with a proven track record for supplying this equipment, with the motors and gearboxes manufactured in Germany. As previously shown in test work, the use of "carbon in leach" technology will reduce the effect of naturally occurring carbon in the ore, maximizing the gold recovery.
The recovery of gold and silver from the activated carbon produced on the carbon in leach circuit will use a "Pressure Zadra Elution" process with electrowinning of gold and silver from the elution solution. Smelting precipitated from electrowinning will produce "Dore Bullion", an alloy of gold and silver, which will be further refined to produce "Good Delivery" gold and silver, outside Peru.
The equipment produced by Xinhai had already been inspected by a specialized company in China and pictures of some of the equipment are shown below.
John Thomas, CEO commented that this is major milestone in our plant planning schedule. Civil construction is progressing and should be largely ready when the equipment arrives at site.
Picture 1: 7ft. diameter, 12 ft. long ball mill
Picture 2: Cyclone fitted to manifold
Picture 3: Cyclone feed pumps, rubber lined
Picture 4: Flotation cells
Picture 5: Jaw Crusher
About PPX Mining Corp:
PPX Mining Corp. is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.
All scientific and technical information in this press release has been reviewed and approved by John Thomas, P. Eng., who is the CEO of the Company and a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
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.
Cautionary Statement:
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test results, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals in connection with this transaction. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE: PPX Mining Corp.
Rio Silver Acquires the Minas Maria Norte Project in a Prolific Mining District in Southern Peru
https://www.globenewswire.com/news-release/2025/03/26/3049577/0/en/Rio-Silver-Acquires-the-Minas-Maria-Norte-Project-in-a-Prolific-Mining-District-in-Southern-Peru.html
March 26, 2025 08:00 ET | Source: Rio Silver, Inc.
VANCOUVER, British Columbia, March 26, 2025 (GLOBE NEWSWIRE) -- Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) (OTC: RYOOF) announces that it has signed a definitive agreement for the acquisition of the Minas Maria Norte (“Maria Norte” or the “Property”) high grade polymetallic silver, exploitation / exploitation property, from Peruvian Metals Corp. (“Peruvian”) (TSX-V PER) being subject to regulatory approval.
The Property is located in Southern Peru in the historic Huachocolpa Mining District, Municipality of Huancavelica. The Property has been held by Peruvian for the past 18 years adjacent to significant silver production with announced world class expansion plans. Previous exploration campaigns by Peruvian shows that the property hosts many polymetallic veins with significant gold credits. Located in the heart of the prolific Huachocolpa Silver District, environmentally friendly hydro power, good infrastructure, labor and logistical support is available.
Two significant mineral processing flotation plants operate nearby: Compañia Minera Kolpa plant at 1440 tonnes per day and SilverX Mining’s (“SilverX”) plant called Recuperada at 720 tonnes per day These plants are located 8 km and 13 Km respectively from Maria Norte. In addition, SilverX’s Tangana Mining Unit which is part of their Nueva Recuperada project is currently in production and is located 2.5 km to the southwest of Maria Norte. It appears that the sub-parallel mineralized structures on Maria Norte are similar to the mineralized structures on the Tangana Mining Unit. SilverX completed a Preliminary Economic Assessment of the area and is published on Sedarplus in April 2023.
The Maria Norte property is 368 hectares in size covering numerous, Au-Ag-Zn-Pb veins that display evidence of historic artisanal exploitation. Five gold-bearing polymetallic structures were mapped by the Company’s geologists and remain open along strike. The lengths of the structures as currently mapped are 40 to 400 meters with variable widths from 0.15 to 4 meters and occur in a vein corridor nearly 600 meters wide
The main structure at Maria Norte, the Castorindo Zone, has provided the highest-grade gold values from within the land package, having five samples ranging in width from 0.18 to 0.70 meters and assaying 13.5 to 40.3 grams per tonne gold along with 162.9 to 1,128 grams per tonne silver. High-grade silver (1,848 grams per tonne) was also encountered at the Jess structure on a sample 0.3 meter in width. Other veins not yet mapped include five samples with widths of 0.2 to 0.7 meters with gold values ranging from 0.89 to 1.55 grams per tonne, silver values ranging from 82.8 to 682 grams per tonne, and up to 4.3 per cent zinc and 9.7 per cent lead.
Also included in the acquisition is a small, isolated concession covering 33 hectares south of Maria Norte main concession block. Sampling and mapping by Peruvian’s geologists identified a mineralized structured believed to be a small portion of the principal vein structure known as Tangana West, a component of the SilverX Mining Corp.’s Nueva Recuperada Project, Huancavelica.
Acquisition Terms
Rio Silver will acquire from Peruvian its wholly own Peruvian subsidiary which holds the concessions. Consideration includes a cash downpayment of $15,000 CDN and the issuance of 15 million Rio Silver common shares and 5 million warrants. The warrants will have a strike price of CAD $0.05 per share and an exercise period of 2 years. Cash payments totaling US$250,000 will be also payable over a 5 year period. A net smelter royalty will be granted Peruvian in an amount equal to 1.5%, after subtracting the Minimum Royalty Payments semi-annually.
Rio Silver CEO Chris Verrico stated, “We are very excited for the potential of Maria Norte to drive shareholder value enabling the Company to re-direct its focus to the pursuit of near term cash flow potential and the prospect of significant organic growth, strategically made possible in the very important Huachocolpa Mining District.
Maria Norte is directly adjacent to and on trend with active mine production with demonstrated world class silver potential that speaks volumes for the Company’s expectations for advancement towards sustainability.
We believe that this acquisition and it’s potential development will be aided by the Company’s other royalty streams and is well supported by Peru’s unique small mines permitting regime which can accelerate the initial development. We remain ever impressed and optimistic by the resilience and ingenuity of our host country as Peru continues to endorse supportive mining policies and continued growth, as is currently evident by the tremendous investment being witnessed, throughout Peru.”
We remain ever impressed and optimistic by the resilience and ingenuity of our host country as Peru continues to endorse supportive mining policies ensuring continued growth and opportunity throughout Peru.
About Rio Silver
Rio Silver is a resource company that has been selectively identifying and acquiring precious metal assets that are anticipated to produce near term cashflow to best assist the Company’s exploration / development plans, in a non-dilutive, shareholder friendly way.
Jeffrey Reeder, P.Geo., a qualified person as defined in National Instrument 43-101, has supervised the preparation, and approved the scientific and technical disclosure contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the completion of the Acquisition, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.
Neither 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.
Palamina Extends Known Gold Mineralization in the Sol De Oro North Zone at the Usicayos Gold Project
https://www.newsfilecorp.com/release/245902/Palamina-Extends-Known-Gold-Mineralization-in-the-Sol-De-Oro-North-Zone-at-the-Usicayos-Gold-Project
March 25, 2025 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - March 25, 2025) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) announces assay results from field work completed in February of 2025 in the Sol de Oro ("SDO") North zone at its 100% owned Usicayos gold project in Peru. Limited mapping and sampling programs are being completed in advance of a planned 2025 drill program.
Highlights:
A broad new mineralized shear zone identified southeast of SDO North
The new mineralized shear zone is located midway between the SDO North and SDO East zones indicating strong continuity over a +1km strike length
Target area for SDO North resource definition drilling program has doubled in width
Andrew Thomson, President of Palamina, commented, "In 2024, Palamina's first two drill holes ever in the SDO North zone identified two broad zones of continuous gold mineralization open to the south, east and at depth. In February of 2025, our field crews have extended the initial 500 x 200 metre wide zone by another 200 metres to the south east. In 2025, a drill program is planned to test the SDO N zone to the south and test the juncture of the SDO North and SDO South zones."
Figure 1: Planned 2025 drill target areas to test extension of SDO N to the south and juncture of SDO N & SDO S structures
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/245902_4545dd67945af9c1_002full.jpg
Palamina's most recent mapping and sampling program identified a new shear zone located approximately 200 metres southeast of the SDO North mineralized zones. Individual mineralized shears within the broader zone are approximately 2 metres thick at surface and dip at a low angle to the south. Gold is associated with quartz veining within the shear zone. Continuous channel sampling in this area yielded up to 1m @ 7.86 g/t Au (see Figure 2 below). These shear zones are interpreted to be subparallel to the mineralized zones identified in drill holes USI24-07 (35m @MB (52m @ 0.72 g/t Au including 8m @ 2.59 g/t Au). Palamina geologists believe that the SDO North mineralized zones may potentially be continuous where systematic drilling is required to define the full extent and continuity of the mineralized envelope.
A further mineralized shear zone was identified 150 metres further east where two channel samples yielded up to 1m @No Moderator and USI2-03, may represent the northern extension of the SDO East zone and be part of a continuous corridor of gold-bearing shear zones linking the SDO East and SDO North zones.
Figure 2: Surface 1 metre channel sample results in the SDO North and northern extension of the SDO East zones
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/245902_4545dd67945af9c1_005full.jpg
In 2025, Palamina plans to complete a drilling program to begin to define a gold resource at SDO North, test the juncture of the SDO North and SDO South zones at depth and complete an inaugural round of drilling in the Cayos zone. Drilling is planned once the rainy season ends and road access is completed.
Sampling, QA/QC, and Analytical Procedures
Palamina follows systematic and rigorous sampling and analytical protocols which meet industry standards. These protocols are summarized below.
Palamina quality assurance/quality control ("QA/QC") protocol is implemented on all its exploration projects. Prior to delivery of samples to the analytical laboratory, Palamina QA/QC staff insert coarse and fine blank samples, field duplicates and certified standards into the sample stream with the objective to provide a check on precision, accuracy, and potential contamination issues in the laboratory. To assure best practice compliance, assay results are only reported once the results of internal QA/QC procedures have been reviewed and approved. Samples are collected and transported by Palamina personnel to the Certimin S.A preparation facility in Juliaca, Peru where they are processed and then sent for assay to the Certimin S.A. laboratory in Lima, Peru.
The Company uses both Fire Assay and metallic screening methodology to obtain accurate gold results, considering the presence of coarse gold. Metallic screening is a method designed to quantify the proportion of coarse gold in deposits where it has been observed. Metallic screening is used by Palamina only for intervals where quartz veining or presence of sulfides indicates possible coarse gold mineralization. At Usicayos, coarse gold has been observed both in drill core and in outcrops of the shear zone. Unlike conventional Fire Assay, where a 30g or 50g sample is analyzed, metallic screening requires a 1kg sample, which, following initial preparation, is screened to separate a fine grained portion (less than 106 microns) from a coarse grained one (over 106 microns). The fine-grained sub-sample is assayed using 30g nominal fire assay, while the coarse portion is assayed in its entirety. Each portion is weighed and a weighted average of both portions is reported. This method better quantifies the coarse grained portion.
The technical information herein has been reviewed and approved by Alvaro Fernandez-Baca, P. Geo., a Qualified Person as defined by National Instrument 43-101. Mr. Fernandez-Baca is Vice-President, Exploration of Palamina.
About Palamina Corp.
Palamina is an exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in southeastern Peru. Palamina is adding value through drill discovery at its Usicayos gold project. Palamina also has an "acquire and hold" strategy with copper silver assets in southeastern and northeastern Peru. Palamina holds a 15.4% equity interest in Winshear Gold Corp. (TSXV: WINS) and a 2% NSR royalty on all their Peruvian projects. Palamina has 71,634,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB Venture Market under the symbol PLMNF.
On Behalf of the Board of Directors:
Andrew Thomson, President
Phone: (416) 204-7536 or visit www.palamina.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements include, but are not limited to, the Company's future business and exploration plans. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedarplus.ca.
SOURCE: Palamina Corp.
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4787
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Created
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08/23/04
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Free
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Moderator Lone Clone | |||
Assistants Lone Clone |
ABSOLUTE #msg- ACERO-MARTIN #msg-11340067 AMERA #msg- ANDEAN AMERICAN #msg-14192578 ANTARES #msg- BEAR CREEK MINING #msg-11340001 CANADIAN SHIELD #msg- CANDENTE #msg-15029804 CENTURY #msg-15029809 CHARIOT #msg- ESPERANZA #msg-16445900 FORTUNA SILVER MINES #msg-11340011 Geologix #msg-15035152 GITENNES #msg- GOLD HAWK #msg- GOLDEN ARROW #msg- INTL. MINERALS #msg-11750571 MPH Ventures #msg-13683508 NORSMONT #msg-11626088 NORTH PERU CU #msg- OREX VENTURES #msg-12662886 PERU COPPER #msg- SIENNA GOLD #msg-11337825 SOLEX #msg- SOLID RESOURCES #msg- SOUTH AMERICAN #msg- TINKA #msg-12295976 VENA #msg- ZINCORE #msg-15349758.......................................................
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