Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
DLP Resources Intersects 954m of 0.36% CuEq* and 94.00m of 0.81% Cu on the Aurora Project in Southern Peru
https://www.newsfilecorp.com/release/224668
September 26, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - September 26, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF
Element79 Gold Secures LOI For Launching Tailings Reprocessing Business In Arequipa, Peru
https://thenewswire.com/press-releases/1knDFNJNO-element79-gold-corp-secures-loi-for-launching-tailings-reprocessing-business-in-arequipa-peru.html
Vancouver, BC – September 26, 2024 – TheNewswire – Element79 Gold Corp (CSE: ELEM, OTC: ELMGF, FSE: 7YS0, Hereinafter “Element79 Gold”), a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects is pleased to announce the signing of a Letter of Intent (LOI) with S.M.R.L. PALAZA 16 (“Palaza”), marking a significant milestone in the Company’s strategic efforts to restart the Lucero mine and concentrate its focus in the Arequipa, Peru region. This agreement represents a unique and substantial economic opportunity for both parties involved, with multiple additional social and environmental benefits for the local region and community.
Under the terms of the LOI, Element79 Gold will have the exclusive right to purchase and process approximately 1.3 million tons of tailings currently controlled by Palaza. These tailings, a byproduct of previous mining activities at the Shila and Paola Mines (now known as the Lucero Mine), present a valuable resource for reprocessing for commercial benefit, to cooperatively strengthen regional and community ties via Palaza's long-term relationships in the region, as well as the tailings project stands to become a stronger foothold for the Company’s mining operations in the region immediately surrounding the Lucero mine.
Click Image To View Full Size
Image 1: Element79’s core mineral rights holdings of the Lucero past-producing mine, outlining the tailings facilities facilities (Relaveras) and former Staging Area (Desmontera)
Key Highlights of the LOI Agreement:
Strategic Acquisition: Element79 Gold will purchase the tailings from Palaza for a competitive price of USD $10 per ton, plus VAT (18%), with a base case (optional total batch purchase) of $10 per metric ton at USD 2,200 per ounce of gold, subject to increases based on the market value of gold at the time that batches are purchased. This acquisition aligns with Element79 Gold 's strategic objective to enhance its resource base. The 43-101 and PEA Studies to be completed on the tailings piles during the Due Diligence period and through 2024 will feed further institutional funding of the Company’s growth.
Construction of Processing Plant: Palaza has authorized Element79 Gold to construct a processing plant on its property. This facility will not only process the acquired tailings but also become a foothold to accommodate other mineral ore inputs, from Lucero’s production and regional Artisanal Small-scale Miners (ASMs), with an eye to maximize operational efficiency and output.
Initial Deposit and Due Diligence: Element79 Gold will make an initial non-refundable deposit of USD $25,000, followed by a comprehensive due diligence period of 75 days. This thorough evaluation will ensure the viability and profitability of the reprocessing project. Upon completion of Due Diligence, an additional USD $50,000 deposit will be required to proceed, in conjunction with the completion of the Definitive Agreement. All deposits paid will be credited as prepayments for tailings.
Royalties and Economic Impact: In addition to the purchase price, for all tailings processed, Element79 Gold will pay Palaza a 1% royalty based on the London Metals Exchange (LME) spot price of gold, reflecting the dynamic and lucrative nature of this venture. This agreement is poised to generate significant economic benefits for both Element79 Gold and Palaza, as well as contribute positively to the local economy in Chachas, and other neighbouring communities in Arequipa.
New Technologies Being Tested to Implement: Element79 Gold has been reviewing a number of ways to increase the safety and minimize the environmental impact of the proposed tailings processing plant, and through its due diligence period, will be testing milling and processing with and without chemicals, milled ore beneficiation, efficiencies, and soil impermeability to prevent soil leaching.
Community and Environmental Considerations: The project will be executed with full compliance with local regulations and in close collaboration with Chachas Community and other surface landholders. Element79 Gold is committed to ensuring that all activities meet stringent environmental and community standards.
PROJECT DATA AND ECONOMIC PROJECTIONS
Total Tailings Volume: Approximately 1.3 million tons of tailings available for reprocessing, located on the same ingress/egress road to the Lucero mine.
Processing Plant Capacity: The new plant will have the capability to handle up to 350 tons per day (tpd) of mineral.
Economic Impact: The agreement is expected to generate substantial revenue streams for both parties, with significant contributions to the local economy through job creation and community investments.
Potential Revenue Generation from Tailings:
NOTE: *all estimates subject to change via data collected via the Due Diligence period, to be reaffirmed via third-party Pre-Economic Analysis report*
Estimated Recovery: Based on 2011 and 2012 Plenge Lab tests, AuEq found in the tailings at that time was approximately 1.5g/t. Gold solubility/recovery from the tailings is projected at 85% and silver at 75%. Palaza’s estimates are that there is approximately 50,000oz of gold equivalent recoverable through the life of the project.
Projected Revenue: Potential estimated gross AuEq of $100 million (assuming $2,000 gold price) with 80% recoverable resources ($80 million), minus $16 million input (tailings) cost and scalable $6-20 million plant cost, resulting in $44-58 million gross over a 15-year project life ($2.9-5.3 million annual gross).
SOCIAL AND ENVIRONMENTAL BENEFITS:
Social: This venture has been a long-standing issue for the local population by completing the final remediation of the with the four piles of dry-stacked tailings that have been left inert and covered by “bio-membranes” and limestone rock for approximately 19 years without remediation. In reprocessing these tailings, they will be put in their final resting place along with additional tailings created by production from Lucero and other regional ASMs.
Environmental: Cleans up a benign environmental issue that has been outstanding for the past 20 years.
Economic: Creates a revenue-positive project that serves as a catalyst for building a production plant on-site and becoming a regional hub for local ASMs. A common thread of conversation with the Chachas community and the Lomas Doradas artisanal mining association has been the desire to have a plant more regionally proximate to the community, as they are currently shipping mined ores approximately 600km away to have it processed today. Helping to eliminate logistical costs, risks and time are all beneficial factors to local miners.
NEXT STEPS:
Due Diligence: Upon paying the deposit, the Company will have 75 days to complete due diligence, which data will feed a 43-101 Mineral Resource Estimate report and Preliminary Economic Assessment (PEA). A Go/No Go decision will follow these reports, with a USD $50,000 payment due upon the completion of the Definitive Agreement. All deposits paid will be credited as prepayments for tailings.
The Company will pull augur samples from all four piles and, provided that lab tests meet required internal decision-making standards, the Company will have a 43-101 compliant Mineral Resource Estimate of the tailings generated as well as a third-party PEA completed, which will encompass the project economics, work flow through the life of the project and the final resting place for up to 2.5M tons of tailings generated from processing the tailings and other throughput.
The Company anticipates that these reports will form the foundation of what it will require to obtain institutional funding for the development of the mill/tailings processing facility as well as restart commercial production at the Lucero mine.
Permitting, Community Consultation: Securing permits for working with the tailings and building a plant will be process undertaken with the Chachas community and state authorities through Fall 2024/Winter 2025, aiming for a 90-day plant construction start in estimated end of Q1 to start of Q2 2025 after the rainy season ends.
"We are thrilled to enter into this strategic partnership with Palaza, which underscores our ongoing commitment to strengthening our presence and operational capacity with innovative and sustainable mining practices," said James Tworek, CEO and Director of Element79 Gold Corp. "The Palaza team have worked in the region for decades, have solid local relationships and have valuable experience of having explored and worked at the Shila mine in the past. The end point of this agreement not only enhances Element79’s accessible resource base but also positions us for long-term growth and profitability, while helping remediate the tailings piles to stable closure as well as provide a solution to many of the local logistical obstacles to increasing production from the Lucero mine and other mines in the region. We are confident that the reprocessing of these tailings will yield significant economic benefits for both Parties and the Communities involved as well as strengthen our presence in the Peruvian mining sector."
Qualified Person
The technical information in this release has been reviewed and verified by Kim Kirkland, Fellow of AusIMM #309585, Chief Operating Officer of Element79 Gold Corp, and a "qualified person" as defined by National Instrument 43-101.
About S.M.R.L. PALAZA 16
S.M.R.L. PALAZA 16 is a Peruvian mining company with extensive experience in the management of Andean mining projects, including reprocessing of mining tailings. Located in the Arequipa region, PALAZA is dedicated to leveraging its decades of experience in the region and resources for sustainable and profitable operations.
About Element79 Gold Corp
Element79 Gold is a mining company with a focus on exploring and developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in the near term.
The Company holds a portfolio of four properties along the Battle Mountain trend in Nevada, and the projects are believed to have significant potential for near-term resource development. The Company has retained the Clover project for resource development purposes and signed a binding agreement to sell three projects with a closing date on or before November 30, 2024.
The Company also holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information For corporate matters, please contact:
James C. Tworek, Chief Executive Officer and Director
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward-Looking Statements This press contains "forward-looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", 4 of 4 "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company's other public disclosure documents, available on www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Radius Signs Option on Tierra Roja Copper Project, Peru and Announces Proposed Financing
https://thenewswire.com/press-releases/1LYzFDyGz-radius-signs-option-on-tierra-roja-copper-project-peru-and-announces-proposed-financing.html
September 25, 2024 – TheNewswire – Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to announce that it has signed an option agreement to acquire the Tierra Roja project, a compelling exploration-stage copper porphyry target located in Peru.
Key Highlights
Agreement executed to acquire porphyry copper target with outcropping oxide copper mineralization exposed over an 800m x 600m area.
Tierra Roja is located in Peru’s southern coastal porphyry belt, one of the largest producing copper districts in the world.
Prospecting continuous rock chip samples grade 1.25% Cu over 35m, and 2.1% Cu over 20m.
Large scale porphyry alteration system.
Recent discovery with no previous systematic exploration or drilling.
As part of transaction, the underlying owners - an experienced team of Peruvian geologists - will work with Radius to execute the exploration programs.
Staged option payments tied to exploration success.
Private placement announced to fund initial program.
Bruce Smith, Radius Gold President and CEO, commented: “The Tierra Roja copper mineralization and alteration system is compelling and comparable to the surface exposure of other significant porphyry copper deposits discovered in the coastal Peruvian copper belt. We are excited to get to work immediately and advance this project. With the shift of focus to Peru, Radius has a pipeline of new projects under evaluation and expects to be able to deliver new projects in the coming months.”
The Tierra Roja is in the coastal desert of southern Peru, at an elevation of 1700masl and 20km from the Pan American highway. The project site is accessible by road and 4x4 tracks. Tierra Roja is located at the northern end of the southern Peru coastal copper belt which hosts some of the largest copper mines in the world. Peru is the second largest copper producer globally (Figure 1).
Figure 1. Tierra Roja project location, at the northern end of the southern Peru porphyry copper belt:
Click Image To View Full Size
Discovery
Tierra Roja project covers 600 hectares, where the core of the property hosts an 800 meter diameter circular anomaly with wide-spread ferruginous, sulphate soil crust developed over strong clay, sericite and silica alteration. In arid climates sulphate crusts can indicate underlying porphyry copper mineralization. The presence suggests that sulfide oxidation and leaching have occurred, which may point to deeper copper enrichment zones.
The rusty clay sulphate crust present at Tierra Roja is a few meters thick and largely hides the underlying copper oxide mineralization. The property optionor, Mr. Montoya, a Peruvian geologist with over 50 years field experience, including senior positions with copper companies: Asarco Inc (Central America, Chile), Lowell Mineral Exploration (Chile, Peru), TVX Gold (Peru, Mexico) and Minsur (Peru), recognized the remote colour anomaly and the significance of the sulphate crust and staked the project. Mr. Montoya cut road access with a bulldozer, breaking the ferruginous sulphate crust, and exposed widespread oxide copper mineralization covering an area of 800m x 600m.
Figure 2. Tierra Roja project, copper oxides mineralization exposed below thin ferruginous sulphate soil cover:
Click Image To View Full Size
663 original rock chip channels (2 to 3m) were sampled by Mr. Montoya from the road cuts, tracks and drainages. As part of Radius’s due-diligence 50 duplicates and control samples were collected. These 713 samples define a large-scale copper system that is hosted in a multiphase intrusive complex.
Figure 3. Tierra Roja project copper geochemistry, showing widespread and high grade copper in rock chip channel sampling:
Copper mineralization occurs as copper oxides, predominately malachite, chrysocolla and brocantite both disseminated within the felsic intrusives and concentrated in wide structural zones. High grades above 3% copper (max 12.5%) have been sampled at multiple locations over the property (Figure 2). Relict sulphide halos indicate that the intrusive host is the likely source of the copper mineralization which has been leached, oxidized and remobilized.
Classic Porphyry Alteration Zonation
Initial mapping indicates classic porphyry copper alteration zonation. The main felsic intrusive host is intensely silicified, with strong sericite clay alteration (phyllic) combined with intense leaching of sulphides and supergene secondary enrichment of copper oxides. Wide halos of epidote, chlorite (propylitic) alteration are observed on the distal margins of the system.
Figure 4. Felsic intrusive, leached, intense silicified, clay sericite altered and veined:
Figure 5. High grade 6% copper oxides as malachite, chrysocolla, and brochantite in silicified intrusive:
Click Image To View Full Size
Supergene Copper’s Economic Impact in Southern Peru’s Coastal Deposits
Southern Peru hosts several large porphyry copper deposits, including: Toquepala, Quellaveco, Cuajone, Los Calatos,Tía María, Cerro Verde, Chapi and Zafranal. These deposits are located along the coastal belt where arid conditions and proximity to the Pacific Ocean contribute to supergene processes. Supergene copper enrichment plays a crucial role in enhancing the economic viability of these deposits. The process occurs as a result of weathering and leaching of primary sulfide minerals in the near-surface environment, and results in the formation of a higher-grade secondary copper blanket comprised of minerals such as malachite, chrysocolla, chalcocite, and brochantite. These supergene copper minerals are distributed widely, disseminated and in structures over a 600m x 800m area at Tierra Roja.
Supergene enrichment blankets typically form beneath a leached cap, creating a secondary enrichment zone that is typically softer, easier to mine, accessible, heap leachable, high-grade resources close to surface. In the coastal desert of southern Peru, most of the major copper porphyries have benefited from the development of an enriched supergene copper zone and have turned many of these deposits into world-class producers.
Access and Permitting
Tierra Roja is located on Federal land, 20km from the coast and the Pan American Highway. Topography is low rolling hills, accessible by pre-existing tracks. The climate is arid and there are no residents, artisanal miners or registered communities located on the property. As such the process for drill permitting and access is simple and rapid. Radius plans to start the permitting process immediately and expects to have drill permits in less than 6 months.
Terms of Option
Radius has entered into an option agreement with the Peruvian owners to acquire 100% of the Tierra Roja project, with option payments (in USD) as follows:
$20,000 on signing (paid)
$30,000 on date that initial drill permits are issued
$100,000 12 months after initial drill permits
$100,000 18 months after initial drill permits
$100,000 24 months after initial drill permits
$650,000 36 months after initial drill permits
$2,000,000 48 months after initial drill permits
$2,000,000 60 months after initial drill permits
The owners retain the rights to a 0.6% NSR.
Work Plans
There has been no drilling or significant exploration conducted at Tierra Roja. Radius plans to rapidly and systematically explore the property. Detailed mapping and geochemical sampling has commenced, to be followed by ground magnetic and IP/Resistivity geophysical surveys. Radius expects to commence drill testing Tierra Roja within 6 months. The Radius geological team will run the project with local input and geological and operational staff, provided by our project partners.
Financing
Additionally, Radius proposes a non-brokered private placement of a minimum of 8,000,000 units at a price of $0.07 per unit for minimum proceeds of $560,000. Each unit will consist of one common share of the Company and one warrant entitling the holder to acquire one additional common share at a price of $0.10 per share, exercisable for a period of 12 months following the closing date of the private placement.
The proceeds of the private placement are intended to be used to fund exploration efforts on Radius’s Tierra Roja project, and for general working capital. Completion of the private placement is subject to approval by the TSX Venture Exchange.
The securities to be offered pursuant to the financing have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Quality Assurance and Quality Control
Copper geochemistry consists of 663 rock chip channel samples, collected by a Peruvian mining company and analyzed in a mine laboratory that is not internationally certified. All samples were 2 to 3m chip channels clearly marked with sample numbers. Radius commissioned a senior Peruvian geologist to take 40 duplicate control samples, which were checked in the field by Radius CEO and QP Bruce Smith, who collected an additional 10 duplicates. The 50 control samples, with standards and blanks, were assayed by internationally certified laboratory Certimin S.A. The results of the visual inspections in the field (with visible copper oxides) and combined assays from the 50 control samples confirm the validity of the original samples. There were no significant discrepancies between duplicates. The copper analysis for the 663 original samples is deemed reliable and fit for the purpose of exploration.
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico, Guatemala and Peru utilizing partnerships where appropriate to retain the Company’s treasury. Management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s plans for its properties and its proposed financing. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the Company’s exploration plans will proceed as expected; the financing will be completed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. 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 statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that the financing will be completed as planned; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof 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 law. 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, investors should not place undue reliance on forward-looking statements.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Western Metallica to Start Drilling at Its Luz Maria Copper Porphyry Prospect in Peru
https://ca.finance.yahoo.com/news/western-metallica-start-drilling-luz-182400381.html
Western Metallica Resources Corp.
Tue, September 24, 2024 at 11:24 a.m. PDT·5 min read
WMS.V
0.00%
TORONTO, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) (“Western Metallica” or the “Company”) is pleased to announce the launch of a first drill program at its Luz Maria copper porphyry prospect, with commencement of operations to occur in October. The Luz Maria prospect is located within its 100%-owned Caña Brava Copper Project in the La Libertad Department of Northern Peru, a well-situated project less than 12 kilometres east from Hudbay’s Llaguen Cu-Mo deposit, a large emerging copper discovery which hosts shallow high-grade mineralization and holds many similarities to neighboring Caña Brava. In parallel to the inaugural drilling at Luz Maria, the Company is also advancing drill target generation at the Project’s other porphyry prospect, Caña Brava 1.
The Company recently received its permit to drill from 19 platforms at its Luz Maria copper-molybdenum porphyry prospect, along with approval of its Environmental Evaluation for Luz Maria from the Peruvian Ministry of Energy and Mines (“MINEM”) (refer to press release dated July 15, 2024). The prospectivity of the Luz Maria porphyry target has been enhanced by geochemical work, Induced Polarization and drone-borne magnetic surveys in early 2024. The work confirmed an inventory of drill ready, prime copper targets, further highlighting the potential for a large porphyry Cu-Mo cluster under the sedimentary and colluvial cover, which speaks to the opportunity for a significant discovery.
This first phase drilling program, planned to start by the last week of October, targets the modelled magnetic bodies that are coincident with the strong chargeability (>30mV/V) Induced Polarization Pole-Dipole as well as the Cu and Mo geochemical anomalies (refer to press release dated July 15, 2024). A total of 6 priority holes have been delineated, with 3 of the 6 priority holes planned to test the favorable target/s that probably reflect the presence, at relative shallow depth, of Cu / Mo sulphide-rich magnetic bodies (refer to Figure 1).
Gregory Duras, Western Metallica’s Chief Executive Officer and Director, commented, “Western Metallica is excited to initiate its inaugural drill program at its Luz Maria copper porphyry prospect. The Company has refined its interpretation of exploration data collected over the past few months on this very exciting flagship copper project, in order to extract the most meaningful information for target delineation. The team is excited about the potential for new discoveries at the Luz Maria prospect, which we believe, following drill confirmation of anticipated grades, could have a compelling impact on the Company and the Projects value.”
Luz Maria Prospect: Location map of Phase 1 drill holes over RTP mag anomaly and
Figure 1. Luz Maria Prospect: Location map of Phase 1 drill holes over RTP mag anomaly and >30mV/V chargeability countour map.
Luz Maria is a well-preserved porphyry system and priority drill target at the Caña Brava Project, where exploration work to date has successfully defined a prominent 3.0-kilometre by 1.5-kilometre phyllic and potassic alteration footprint, comparable in size to other major Peruvian porphyry deposits, and featuring multiple mineralized intrusion events. New high resolution age dating by the Company from Luz Maria has confirmed an Eocene age of 44.5Ma±0.2Ma for the mineralization, firmly placing it in the same copper-productive age range as other very large porphyry systems of Peru and Chile, including Las Bambas, Cotabambas, Constancia, Antapacay and more recent discoveries such as Elida. The Company´s diamond-sawn channel sampling campaign demonstrated a coherent and strong broadly coincident Cu and Mo geochemical anomalies up to several 100s of ppm in magnitude from multi-phase intrusions. Detailed mapping confirmed at least four intrusion phases hosting both Cu and Mo-sulphide mineralization, locally associated with weak biotite-replacement.
Background
Western Metallica holds the option to acquire 100% of the mineral claims, rights, and interests in Caña Brava, a Cu-Mo project located in Northern Peru (refer to press release dated August 10, 2023). The project lies within the under-explored Northern sector of the Cu-Mo metallogenic belt of Eocene age that hosts, to the South, world class deposits such as Las Bambas (MMG), Cotabambas (Panoro Minerals Ltd.), Constancia (Hudbay Minerals Inc.), Antapacay (Glencore) and discoveries such as Elida (Element 29 Resources), the first porphyry deposit of this age discovered in North Peru. The Company´s Caña Brava Project is well located in close proximity to industrial ports, major paved roads and is comprised of large, contiguous mineral concessions conducive to future project scalability.
The Caña Brava Project is a highly prospective 5,700-hectare package of concessions located 30 kilometres from the Peruvian coast, at an elevation of 1,500 metres in the Western Cordillera of the Peruvian Andes. The Caña Brava Project is neighboring Hudbay’s Llaguen Cu-Mo Project which lies on the Western margin of the Miocene epithermal-porphyry copper-gold belt of Northern Peru, with the potential for Caña Brava to similarly host shallow high-grade mineralization across a considerable alteration footprint.
Qualified Persons
The technical and scientific information in this press release has been reviewed and approved by Mr. Giovanni Funaioli, EurGeol, Vice President Exploration of Western Metallica, who is a “Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Giovanni Funaioli is an employee of the Company and is not considered independent under NI 43-101.
About Western Metallica Resources Corp.
Western Metallica is an Ontario registered company with its head office in Toronto, Ontario, trading on the TSX Venture Exchange under symbol WMS. Western Metallica is in the business of mineral resource exploration and development and holds the option to acquire a 100% interest in the Caña Brava copper-molybdenum project located in La Libertad Department, Peru. Western Metallica is also advancing its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain, and three other Spanish gold projects in the “Navelgas Gold Belt” in Asturias, Spain (Penedela, Valledor and Sierra Alta).
Further information of the Company can be found at: www.westernmetallica.com
For more information please contact:
Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
Email: gduras@westernmetallica.com
Investor Relations
Email: info@westernmetallica.com
Cautionary Note Regarding Forward-Looking Statements
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains statements that constitute “forward-statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned drill program and the development of the Company’s projects and other mining projects and prospects thereof, the impact of the management additions on the Company; and the potential and economic viability of the Caña Brava Project. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c63565a6-878d-4ac9-8088-ca90ae843b4c
Element 29 Commences Resource Expansion Drill Program at its Elida Porphyry Cu-Mo-Ag Deposit in Central Peru
September 24, 2024 8:00 AM EDT | Source: Element 29 Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) ("Element 29" or the "Company") is pleased to announce the commencement of drilling activites at its Elida Porphyry Copper ("Cu") - Molybdenum ("Mo") - Silver ("Ag") Deposit ("Elida") in central Perú. The proposed program consists of up to 4,000 metres ("m") of diamond drilling (Figure 1) and is expected to continue until early December 2024.
The Elida drill program is designed to potentially expand the existing pit-constrained initial inferred mineral resource estimate1 and increase the overall Cu-Mo-Ag grades. The proposed drill holes will infill gaps in information and aim to increase the Cu-Mo-Ag grades within the current pit-shell. The holes will continue to depths of up to 1,000 m from bedrock surface if still in porphyry Cu-Mo-Ag mineralization (Figure 2) aiming to expand the resource tonnage. To date, there has been insufficient exploration to increase the overall inferred resource estimate grades or to define a mineral resource outside of the existing pit shell and it is uncertain if further exploration will result in the target being delineated as a mineral resource. However, several previous drill holes have extended the porphyry Cu-Mo-Ag mineralization outside the pit-constrained initial resource model1 including drill hole ELID025 collared just north of the pit center and intersected 908.75 m of 0.39% Cu, 0.035% Mo, 2.9 g/t Ag (0.51% CuEq2) from bedrock surface at 38.4 m depth. This suggests that the porphyry Cu-Mo-Ag mineralization extends to depths of more than 900 m from bedrock surface.
The first drill hole of the program, ELID033, is located 200 m to the west of ELID025 and desiged to test the continuation of porphyry Cu-Mo-Ag mineralization intersected in ELID032 which returned 404.5 m of 0.45% Cu, 0.032% Mo, and 3.6 g/t Ag (0.55% CuEq2) from bedrock surface at 45.5 m. This hole ended in 13.4 m of 0.75% Cu, 0.032% Mo, and 7.2 g/t Ag (0.83% CuEq2) at 450.0 m depth. ELID033 has dual objectives both to infill within the existing pit-shell and then continue to a depth of 1,000 m from bedrock surface while in strong porphyry Cu-Mo-Ag mineralization thereby giving the indication of the extent of the mineralization outside the existing pit-shell.
Richard Osmond, President and CEO, comments, "We are confident that our Peruvian team led by our Chief Technical Officer, Manuel Montoya, can grow the Elida deposit substantially beyond the current pit-constained initial mineral resource estimate. This estimate is based on just over 14,000 metres of diamond drilling and is open in all directions. The team has recognized some key controls on the higher grade porphyry copper mineralization that we will also be targeting during this round of drilling."
To learn more about Elida and the proposed drill program, watch the following video presentation HERE.
Figure 1: Plan map of the Elida porphyry Cu-Mo-Ag deposit with the proposed diamond drill holes for the fall 2024 campaign. The map also shows the trace of the existing drill holes with CuEq2 grades plotted as histograms along the hole.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7414/224345_dcbfb4b3141ba851_001full.jpg
Figure 2: Isometric view (looking NE) of the Initial Mineral Resource Estimate for the Elida porphyry Cu-Mo-Ag deposit with traces of existing drill holes showing histograms of CuEq2 grades. The proposed holes for the fall 2024 campaign are also plotted in white.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7414/224345_dcbfb4b3141ba851_002full.jpg
Notes:
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.
The CuEq grades are calculated using CuEq = [Cu% x 0.85] + [Mo% x 4.7030] + [Ag g/t x 0.0059] utilizing metal prices of Cu = US$3.95/lb, Mo = US$28.58/lb and Ag = US$24.52/oz based on a 2-year average of the daily spot price (from September 13th, 2022 to September 11th, 2024) and recoveries of Cu = 85%, Mo = 65% and Ag = 65%.
Grant of Stock Incentives
The Company has granted an aggregate of 5,250,000 stock options to directors, officers, employees and consultants of the Company in accordance with the Company's incentive stock option plan, subject to regulatory acceptance. These incentive stock options are exercisable at $0.255 per share for a period of 5 years. The Company also announces that it has granted an aggregate of 275,000 deferred share units, ("DSUs") to the directors of the Company and 265,000 restricted share units ("RSUs") to employees and consultants of the Company. The DSUs and RSUs are governed by the Company's RSU/DSU Plan and will be subject to applicable securities law hold restrictions.
Appointment of Connect 4 Marketing
The Company announces that, subject to regulatory approval, has signed on September 13, 2024 and effective that date, an agreement to engage the services of Connect 4 Marketing Ltd. ("Connect 4") to provide digital marketing and consultancy services to grow investor awareness and social media followers of the Company using a blend of social media management, content creation, videography and online advertising, for a one-time fee of $5,200 plus $4,500 per month for an initial 3-month term with month-to-month thereafter. Connect 4 is at arm's length to Element 29, has no relationship with the Company except under this contract of services and no ownership interest in the Company. Connect 4 was founded by Louis-Carlos Vargas Rocheleau, (who owns 100%) in September 2022 and is registered in Brossard, Quebec at 5505 Boulevard Du Quartier, 702, J4Z 0R9. Connect 4 operates from 407 McGill St bureau 501, Montreal, Quebec, H2Y 2G3.
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 Elida Porphyry Cu-Mo-Ag Deposit
Elida is a porphyry Cu-Mo-Ag exploration project within a property composed of 29 mining concessions totaling 19,749 hectares that are 100% owned by Elida Resources S.A.C., a Peruvian subsidiary of Element 29. It is located in west-central Perú approximately 85 km inland from the Pacific coast at moderate elevations between 1,500 m and 2,000 m and close to transportation and power infrastructure, including a 45 mega-watt hydroelectric generation facility situated 15 km from the deposit.
The property contains a large, 2.5 x 2.5 km alteration system enclosing a cluster of porphyry centres that represent five distinct exploration targets. Previous drilling by Element 29 intersected multiple, long intervals of porphyry Cu-Mo-Ag mineralization which has been traced to a depth of greater than 900 m where it remains open.
Elida has an inferred mineral resource estimate of 321.7 million tonnes grading 0.32% Cu, plus 0.03% Mo and 2.61 g/t Ag with a low modeled strip ratio of 0.74:1 (at 0.20% Cu cut off grade) on the Zone 1 porphyry.
Information on the mineral resource estimate is in the technical report, available on the Company's website and on SEDAR+, titled "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida Porphyry Copper Project in Perú" with an effective date of September 20, 2022 and prepared in accordance with Form 43-101F1 by Marc Jutras, PEng MASc, Principal, Mineral Resources, Ginto Consulting Inc., a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects, who is independent of Element 29 Resources Inc.
About Element 29 Resources Inc.
Element 29 Resources Inc. is an emerging copper exploration and potential development company focused on advancing its portfolio of Peruvian projects towards development in one of the world's more established mining jurisdictions. Element 29's growth strategy is led by our strong board and management, who have a proven track record of discovery and delivering value to our shareholders.
The Company's principal objective is to explore and potentially develop its Elida Porphyry Copper Deposit in west-central Perú and its Flor de Cobre Porphyry Copper Project located in the Southern Perú Copper Belt, 26 km southeast from Freeport-McMoRan's Cerro Verde copper mine. Both projects are well located for potential 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, President & CEO
1-888-246-7881
info@e29copper.com
Neither 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. 1This news release contains information about adjacent properties on which Element 29 has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties
SOURCE: Element 29 Resources Inc.
Palamina Acquires Aurania's Peruvian Subsidiary and 100% of the Pluma Copper Silver Project
https://www.newsfilecorp.com/release/224197
September 23, 2024 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - September 23, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has acquired 100% of the shares of Sociedad Minera Vicus Exploraciones S.A.C. ("Vicus") from Aurania Resources Ltd. (TSXV: ARU) ('Aurania'). Vicus is now a wholly owned Peruvian subsidiary of Palamina Corp. Aurania received 350,000 common shares of Palamina and was granted a 1% Net Smelter Return royalty on the Pluma sediment-hosted copper silver project as full payment for the purchase of Vicus. Palamina may buy back half of the royalty for $1,000,000.
Vicus holds 100% ownership of the Pluma copper silver project covering 9,800 hectares in north eastern Peru. Palamina intends to transfer its Sora, Volcano and Galena copper silver projects in south eastern Peru into Vicus. The addition of our second 100% wholly owned Peruvian subsidiary provides Palamina with greater flexibility moving forward to separately fund and advance both its land bank of copper silver projects in Vicus and its land bank of gold projects in Palamina S.A.C..
"Palamina's Vicus subsidiary will eventually retain all of our copper silver assets where we currently have an 'acquire and hold' strategy. Palamina's primary focus remains on the drill program underway in the Sol de Oro zone at its Usicayos Gold Project. Palamina is on its third drill hole in the Sol de Oro east zone where, when complete, will move to the drill test the Sol de Oro south zone."
Location of Pluma copper silver project in NE Peru
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/224197_c0413e7824669a23_003full.jpg
Location of Sora, Volcano & Galena copper silver projects in SE Peru
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/224197_c0413e7824669a23_002full.jpg
Pluma is north and contiguous to Hannan Metals Limited's ("Hannan") San Martin Copper Silver Project. San Martin is subject to an earn-in with the Japan Organization for Metals and Energy Security ("JOGMEC"). JOGMEC has the option to earn up to a 75% beneficial interest in the San Martin JV Project from Hannan by spending up to US$35,000,000 to deliver a feasibility study or completing certain expenditure milestones. Hannan intends to run a drill program at San Martin in 2024.
The Pluma block of mineral concessions, within the San Martin region of northeastern Peru, covers prospective geology, including large salt domes which could be the source of mineralizing brines in this kind of environment. Vicus has acquired 2D seismic data over northeastern Peru, which was collected by Peru's state-owned oil company, facilitating the identification of further salt domes with additional mapping of prospective stratigraphy planned in an area.
Palamina's 100% owned Sora, Volcano and Galena copper silver projects have no underlying payments or royalties attached and are located in the Santa Lucia district in south eastern Peru. Active mining companies exploring in the district include Barrick Gold Corporation, Ivanhoe Electric Inc., Fresnillo PLC and Aftermath Silver Ltd. Palamina's "acquire and hold' strategy for copper silver assets leaves it in an ideal position to participate in new discoveries in one of the most prolific metallogenic belts in the world, host to several deposits of high-demand battery metals. Copper will undoubtedly be the highest demand base metal and silver the highest demand precious metal in the age of electrification.
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 holds a 15.4% equity interest in Winshear Gold Corp. (TSXV: WINS) and a 2% NSR royalty on all their projects. Winshear is scheduled to start its inaugural drill program at their Gaban Gold Project in late September, early November of 2024. 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 use of proceeds of the Offering and the Company's future business 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.
Lara Completes Earn-In to 70% of the Mantaro Phosphate Project in Peru
https://www.newsfilecorp.com/release/224058
September 23, 2024 8:30 AM EDT | Source: Lara Exploration Ltd.
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2024) - Lara Exploration Ltd. (TSXV: LRA) ("Lara") is pleased to report completion of the expenditures required to increase its ownership interest in the Mantaro Phosphate Project from 33% to 70%. As part of its operational strategy, Lara has established a new subsidiary, Fosfatos Alli Allpa, as the vehicle to advance further exploration, technical studies, and the eventual development. Named for its significance in the local Quechua language as "good soil" phosphates, Fosfatos Alli Allpa aims to produce and concentrate phosphate rock to meet the growing demand for natural fertilizers in the Junín Region, the Peruvian market generally, and eventually for export.
"Lara remains committed to sustainable practices and proactive community engagement, as we seek to develop phosphate fertilizer production via Fosfatos Alli Allpa," commented Miles Thompson, Chairman of Lara Exploration Ltd.
Lara is working under a Research Collaboration Agreement with the Peruvian National Institute of Agrarian Innovation (INIA) with on-going studies, fertilizing soils on selected test plots near the project with crushed phosphate rock, to demonstrate potential improvements in crop yields through the application of locally sourced phosphates.
Located between the provinces of Jauja and Concepción in the Junín Region of Central Peru, the Mantaro Phosphate Project hosts thick and extensive layers of sedimentary phosphate. Previous exploration, including trenching, drilling, processing test work, and other technical studies, have identified phosphate mineralization that is suitable for surface extraction, beneficiation and production of marketable phosphate rock concentrates. The project was previously studied by Stonegate Agricom Ltd. (later acquired by Itafos Inc.), which published a NI 43-101 technical report ("Technical Report on the Mantaro Phosphate Deposit Junín District Peru" authored by Donald H. Hains and Michelle Stone of Hains Technology Associates) on SEDAR on March 16, 2010.
The project also benefits from its strategic location near the national highway and major rail line connecting Huancayo with Lima and the port of Callao, as well as the newly completed Chinese-operated mega-port of Chancay. The rail line is being upgraded to increase capacity and a new concession has recently been granted to extend it to Huancavelica. High tension transmission lines traverse the property's western side.
About Lara Exploration
Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
-30-
SOURCE: Lara Exploration Ltd.
Winshear Secures Drill and Helicopter Contracts for the Upcoming Drill Program at the Gaban Gold Project, Peru
https://ca.finance.yahoo.com/news/winshear-secures-drill-helicopter-contracts-120000793.html
Winshear Gold Corp.
Mon, September 23, 2024 at 5:00 a.m. PDT·2 min read
HELOF
+144.05%
VANCOUVER, British Columbia, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) (‘Winshear’ or the ‘Company’), has signed contracts with Energold Drilling Peru S.A.C. and Servicios Aereos de los Andes S.A.C. to provide drilling and helicopter services in advance of an inaugural drill program at the Gaban Gold Project in south eastern Peru. The drill programme is expected to commence before the end of September, with mobilization of the drill equipment scheduled for the 21st of September.
Gaban is located in the Puno Orogenic Gold Belt (“POGB”) at the juncture of the San Gaban and Inambari rivers, which drain into the Madre de Dios basin. This basin covers a 1,900 square kilometer area known for extensive alluvial gold mining (Figure 1). Winshear is exploring for one of the hard rock sources of the alluvial gold at Madre de Dios.
Work completed at Gaban includes high-resolution airborne magnetics (2018) and stream sediment sampling which has identified a 5 km-long series of anomalous stream sediment samples (up to 5 g/t Au) overlying a regional magnetic anomaly referred to as the Coritiri target (Figure 2 and Figure 3).
Ground-truthing of these stream sediment anomalies led to the discovery of outcropping quartz veins hosted in meta-sediments (siltstones and sandstones). Numerous channel sampling campaigns were conducted, resulting in the definition of the 2,200 x 1,000-metre Coritiri Zone (Figure 4). Channel samples (typically 1-metre long) returned assays up to 11.2 g/t Au. The Coritiri zone remains open along strike to the east and southeast.
Technical Information
J. Patricio Varas, P. Geo. Is Winshear’s President and is a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release. Mr. Varas has visited Winshear’s Gaban exploration project and has reviewed the data from sampling programs .
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian-based minerals exploration company advancing the Gaban Gold Project in the Puno region of south-eastern Peru. The Company considers Gaban to be one of the hard-rock sources of gold contributing to the 1,900 km2 Madre de Dios alluvial goldfields, located 50km north and downstream from the Gaban gold project.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard Williams, CEO
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.
Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements and contain forward-looking information.
Generally, forward-looking 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". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks normally associated with mineral exploration. 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. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
Copper Standard and Pucara Announce Business Combination to Create the Next Americas Focused Copper-Gold Exploration Company
https://www.newsfilecorp.com/release/222962
September 11, 2024 8:30 AM EDT | Source: Copper Standard Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2024) - Copper Standard Resources Inc. (CSE: CSR) ("Copper Standard") and Pucara Gold Ltd. (TSXV: TORO) (BVL: TORO) ("Pucara") are pleased to announce that they have entered into an arrangement agreement on September 10, 2024 (the "Arrangement Agreement"), pursuant to which Copper Standard will acquire all of the issued and outstanding common shares of Pucara (the "Pucara Shares"), in exchange for common shares of Copper Standard (the "Copper Standard Shares"), by way of a plan of arrangement (the "Transaction"). The Transaction will create a combined company that consolidates a prospective copper exploration portfolio totaling over 17,000 hectares in Peru. Further details of the Transaction are outlined below.
Transaction Highlights:
Deliver increased scale and enhanced diversification with the addition of three prospective copper exploration assets located in Peru, two of which were selected to be optioned by the late David Lowell, to Copper Standard's portfolio.
Provide synergy and cost savings with Copper Standard's board and management team with a proven history and in-country track record of discovery, exploration success, mine building, operations, community engagement and monetization leading the combined company.
Pucara Copper Projects:
Pacaska is an epithermal high-sulfidation gold/porphyry copper target that sits on 7,650 hectares of land with a widespread mineralized footprint. The geology of Pacaska is analogous to various world-class deposits, such as the Pierina Mine in Peru. Rock sampling at Pacaska has returned 17 g/t gold and 11% copper. In 2019, an extensive shallow surface 300 line-km magnetometry and IP geophysical program was completed.
Paco Orco is a carbonate replacement type target with distal mineralization. The 4,400-hectare claim block is largely under-explored containing mineralized gossan and jasperoid silica outcrops that extend for at least two kilometres. Surface rock samples from the project have included up to 0.58% lead, 0.26% zinc, and 58 g/t silver. A third party has an earn-in option agreement on Paco Orco for up to 75% interest. The third party has agreed to obtain all necessary drill permits and spend US$4 million during the first three years for 51% interest. An additional 24% interest, for a total of 75%, can be earned after third party spends US$11.5 million over four years, fully funding a Pre-Feasibility Study ("PFS") for the project, and pay US$0.5 million.
Capricho is a 3,768-hectare concession package with a porphyry copper target. Recent prospecting work on the claims has uncovered porphyry mineralization in stockworks and altered intrusive rocks. The concessions contain enrichment zones of up to 3% copper. A third party has an option to earn a 75% interest over three stages. The third party must obtain all necessary agreements and permits for drilling and spend US$5 million during the first three years for a 51% interest. The remaining 24% interest will be granted when the third party spends US$11.5 million over the next four years, solely funding a PFS on the project, and pay US$0.5 million.
Matt Fargey, CEO of Copper Standard, commented: "This Transaction is an exciting opportunity to unite complementary assets, teams, and investors to create value for all Copper Standard and Pucara shareholders. The late David Lowell endorsed each of Copper Standard and Pucara's copper exploration projects and now combining them all together will allow Copper Standard to leverage its Peruvian team to advance the exploration efforts in-country."
Greg Davis, CEO, President, and Director of Pucara commented: "We are very pleased to be entering this combination with Copper Standard. By combining with Copper Standard, Pucara's shareholders will benefit from the synergies and cost savings of leveraging the combined company's in-country management team while also providing a refreshed approach to community relations at the Pacaska project for obtaining required permits to commence a drilling program."
Transaction Terms
Pursuant to the terms and conditions of the Arrangement Agreement, the holders of the issued and outstanding Pucara Shares will receive 0.1 Copper Standard Shares for each one (1) Pucara Share held (the "Exchange Ratio"). Pucara stock options and warrants that are outstanding at the time of completion of the Transaction will become exercisable for Copper Standard Shares on substantially the same terms and conditions, with the number of Copper Standard Shares issuable on exercise and the exercise price adjusted in accordance with the Exchange Ratio. The Transaction will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia).
The Exchange Ratio implies a price of $0.05 per Pucara Share and a premium of approximately 67% based on the closing prices of Copper Standard and Pucara on September 10, 2024, and a premium of approximately 50% based on the 20-day volume weighted average prices of Copper Standard Shares and Pucara Shares as of September 10, 2024. Upon completion of the Transaction, existing Copper Standard and Pucara shareholders would own approximately 85% and 15% of the combined company, respectfully, on an undiluted basis.
Upon completion of the Transaction, Copper Standard will continue to be listed on the Canadian Securities Exchange under the same Copper Standard name and ticker symbol. The Arrangement Agreement contains customary deal-protection provisions including a non-solicitation covenant on the part of Pucara and a right for Copper Standard to match any Superior Proposal (as defined in the Arrangement Agreement). Under certain circumstances, Copper Standard would be entitled to a termination fee or expense reimbursement fees of $0.25 million.
Complete details of the Transaction will be included in a management information circular to be delivered to Pucara security holders in the coming weeks.
Conditions to Completion
The completion of the Transaction is subject to a number of terms and conditions, including without limitation the following: (a) approval of the Pucara shareholders, as described below; (b) acceptance of the TSX Venture Exchange ("TSXV"); (c) approval of the British Columbia Supreme Court; (d) there being no material adverse changes in respect of either Copper Standard or Pucara; and other standard conditions of closing for a transaction of this nature. There can be no assurance that all of the necessary approvals will be obtained or that all conditions of closing will be satisfied.
The Transaction is subject to the approval at a special meeting of Pucara shareholders by (i) 66 2/3% of the votes cast by Pucara shareholders, and (ii) if required, a simple majority of the votes cast by the Pucara shareholders, excluding the votes cast by certain persons as required by Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions. Copper Standard and Pucara are arm's length parties and, accordingly, the Transaction is not expected to a related party transaction. No finder's fees are being paid in connection with the Transaction.
Officers and directors along with certain shareholders of Pucara who collectively control 40.05% of the Pucara Shares (excluding those issued in connection with the Pucara financing discussed below) on an undiluted basis have entered into voting and support agreements pursuant to which they have agreed to vote their shares in favor of the Transaction.
Board of Directors and Management
Upon closing of the Transaction, the board of directors of Copper Standard will remain unchanged to lead the combined management and project teams. The head office will continue to be in Vancouver, Canada. In addition, on September 10, 2024 and prior to execution of the Arrangement Agreement, Mr. Andy Swarthout resigned as a director of Pucara to avoid conflicts under corporate law as a result of being a director of both Copper Standard and Pucara.
Pucara Financing
Concurrent with signing the Arrangement Agreement, Copper Standard has signed a subscription agreement to subscribe for 8,415,765 units of Pucara (the "Units") at a price of $0.03 per Unit (the "Pucara Financing"). Each Unit will include one Pucara Share and one half of one common share purchase warrant, with each whole warrant entitling the purchase of one Pucara Share at a price of $0.05 per Pucara Share for a period of five years from the date of issuance. The Pucara Financing is expected to close within five days of this announcement.
The Pucara Financing will be relying upon exceptions permitted by the TSXV in order to issue the Pucara Shares at less than $0.05 per Pucara Share. Pucara also intends to rely on the "part and parcel exception" under the policies of the TSXV in respect of the Pucara Financing as the Pucara Financing is integral to the Transaction by capitalizing the combined company.
It is anticipated that proceeds from the Pucara Financing will be utilized for the payment of legal and other advisor fees in connection with the Transaction (approximately 50% of the gross proceeds) and for other general working capital purposes (approximately 50% of the gross proceeds), provided that permitted working capital purposes shall not include payment of bonuses, amounts in respect of a change of control, nor any other amounts to employees, consultants or related parties. None of the proceeds raised will be used to pay "Non-Arm's Length Parties" or to fund "Investor Relations Activities" (as each is defined in the policies of the TSXV).
Transaction Timeline
Pursuant to the Arrangement Agreement and subject to satisfying all necessary conditions and receipt of all required approvals, the parties anticipate completion of the Transaction by the end of 2024. Following completion of the Transaction, Pucara Shares will be de-listed from the TSXV and Lima Stock Exchange and Pucara will cease to be a reporting issuer under Canadian securities laws.
Recommendations by the Boards of Directors
After consultation with its legal advisors, the board of directors of Copper Standard unanimously approved entering into the Arrangement Agreement. After consultation with its legal advisors, the board of directors of Pucara unanimously approved entering into the Arrangement Agreement and unanimously recommends that Pucara Gold shareholders vote in favour of the Transaction.
Counsel
DLA Piper (Canada) LLP are acting as legal counsel to Copper Standard. Gordon J. Fretwell Law Corporation and McMillan LLP are acting as legal counsel to Pucara.
Qualified Person
The technical information of this news release has been reviewed and approved by Andy Swarthout, Chairman of Copper Standard, and a Qualified Person, as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Copper Standard Resources Inc.
Copper Standard is engaged in the acquisition, exploration, discovery, and development of mineral interests focusing on copper and gold projects. Copper Standard has an option to acquire 100% of the Colpayoc Copper-Gold Property in Peru ("Colpayoc"). Colpayoc has significant, untested potential for supergene and porphyry copper-gold mineralization at depth, beneath drill holes bottoming in oxide gold-copper mineralization. Colpayoc is largely untested with limited drilling and is similar to many of the world class porphyry copper-gold deposits within the prolific Yanacocha District. Recognizing the importance of sustainable practices, Copper Standard remains dedicated to thorough evaluation and responsible development within the mineral sector. Copper Standard continues to evaluate opportunities in the mineral sector on an ongoing basis.
About Pucara Gold
Pucara is a junior exploration company focused on the discovery and advancement of economic precious metals deposits in resource-rich Peru. Pucara has a portfolio approach to project acquisition and controls seven precious and base metal projects located in Peru. Pucara is advancing one project while the remaining two are under option agreements with strategic partners.
For more information about Copper Standard, please visit our website at www.copperstandard.com or email us at info@copperstandard.com.
For more information about Pucara, please visit our website at www.pucaragold.com or email us at gdavis@pucaragold.com.
Matt Fargey, Chief Executive Officer of Copper Standard
604-628-1110
Greg Davis, Chief Executive Officer of Pucara
604-999-1099
Neither the Canadian Securities Exchange 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 news release.
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, respectively (collectively referred to herein as "forward-looking information"). Forward-Looking information may be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "scheduled", "estimates", "outlook", "forecasts", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or terminology which states that certain actions, events or results "may", "could", "would", "might", "will", "will be taken", "occur" or "be achieved". Forward-Looking information in this news release includes: expected timing and completion of the Transaction; the strengths, characteristics and expected benefits and synergies of the Transaction; receipt of court approval; approval of the Transaction by Pucara shareholders at the special meeting of Pucara securityholders; obtaining CSE and TSXV acceptance to complete the Transaction; the completion of the Pucara Financing; obtaining TSXV acceptance to complete the Pucara Financing; the anticipated timing of the special meeting of Pucara shareholders to vote on the Transaction and the related management information circular; the expected delisting of the Pucara Shares; and the composition of Copper Standard's board and management team following completion of the Transaction. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances, including information in this news release regarding the Transaction and the Pucara Financing, contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent the companies' expectations, estimates and projections regarding possible future events or circumstances. The forward-looking information included in this news release is based on the companies' opinions, estimates and assumptions in light of their experience and perception of historical trends, current conditions and expected future developments, their assumptions regarding the Transaction and the Pucara Financing (including, but not limited to, their ability to close the Transaction and the Pucara Financing on the terms contemplated, and to derive the anticipated benefits therefrom), as well as other factors that they currently believe are appropriate and reasonable in the circumstances. The forward-looking information contained in this news release is also based upon a number of assumptions, including the companies' ability to obtain the required securityholder, court and regulatory approvals in a timely matter, if at all; their ability to satisfy the terms and conditions precedent of the Arrangement Agreement in order to consummate the Transaction; assumptions in respect of current and future market conditions and the execution of the companies' business strategies, that operations in Copper Standard's and Pucara's properties will continue without interruption, and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated, intended or implied. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Forward-Looking information is also subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to, failure to receive the required shareholder, court, regulatory and other approvals necessary to effect the Transaction; the potential for a third party to make a superior proposal to the Transaction; that Copper Standard and its shareholders will not realize the anticipated benefits following the completion of the Transaction; that the Pucara Financing will not be completed; that the proceeds of the Pucara Financing will not be used as announced; that the special meeting of Pucara shareholders to vote on the Transaction will not occur at the anticipated timeframe; and those set forth under the Risk Factors in the companies' most recent respective management's discussion and analysis, and other documents filed with or submitted to the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.ca.
Although the companies have attempted to identify important risk factors that could cause actual results or future events to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to them or that they presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the companies' expectations as of the date of this news release and is subject to change after such date. Copper Standard and Pucara each disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
SOURCE: Copper Standard Resources Inc.
Bear Creek Mining Announces Potential for Lower Capex, Longer-Mine Life at Corani via Initial Mining of Oxide Resources
https://www.newsfilecorp.com/release/222515
September 09, 2024 8:00 AM EDT | Source: Bear Creek Mining Corporation
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2024) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM
Radius Enters Binding Exclusivity for Tierra Roja Copper Project, Peru
https://thenewswire.com/press-releases/1k49F8YEM-radius-enters-binding-exclusivity-for-tierra-roja-copper-project-peru.html
Vancouver, British Columbia – September 9, 2024 – TheNewswire – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to announce that it has a binding exclusivity with an option to acquire a compelling exploration-stage copper porphyry project located in Peru.
The Tierra Roja project is located in the Atacama Desert, southern Peru, at an elevation of 1700masl and 20km from the coast and Pan American highway. The project site is accessible by road and 4x4 tracks. Tierra Roja is located at the northern end of the southern Peru coastal copper belt which hosts some of the largest copper mines in the world. Peru is the second largest copper producer globally (Figure 1).
Tierra Roja covers 600 hectares and the core of the property hosts an 800 meter diameter circular anomaly with wide-spread ferruginous soil crust developed over strong clay, sericite and silica alteration. Mineralization is hosted in a multi-phase intrusive complex. There has been no drilling or formal exploration, but where the underlying owner cut road access with a bulldozer, breaking the ferruginous soil crust has exposed widespread oxide copper mineralization covering an area of 800m x 600m. Approximately 600 systematic rock chip samples have been collected by the project owners and analyzed in a Peruvian mine laboratory (non-certified). Radius is in the process of verifying the validity of the historic sampling and completing legal and social due diligence.
Bruce Smith, Radius Gold President and CEO, commented: “Having recently completed a due diligence site visit in Peru, I am very impressed by the Tierra Roja project. It has all the right indicators to make a significant copper discovery. It has scale, the right alteration features and abundant copper oxides in outcrop. There are no people or communities living on or near the site, and is an easy access, low-cost exploration target, in one of the world’s most prolific copper producing districts. We look forward to completing an option agreement and commencing exploration.”
Figure 1. Tierra Roja project location, at the northern end of the Southern Peru porphyry copper belt:
Figure 2. High grade copper oxide mineralization hosted in intensely altered intrusive exposed in bulldozer cut:
Click Image To View Full Size
Figure 3. Copper oxides exposed beneath ferruginous (iron rich) soil crust in small creek bed. Note above the exposed mineralization the copper is not visible in the desert soil crust:
Click Image To View Full Size
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico and Guatemala utilizing partnerships where appropriate to retain the Company’s treasury. Management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s plans for its properties. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. 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 statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof 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 law. 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, investors should not place undue reliance on forward-looking statements.
Xali Gold Options High Sulphidation Gold Project in Central Peru
https://ca.finance.yahoo.com/news/xali-gold-options-high-sulphidation-110000527.html
Xali Gold Corp.
Thu, September 5, 2024 at 4:00 a.m. PDT·4 min read
CGDXF
0.00%
VANCOUVER, British Columbia, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (“Xali Gold”) or (“the Company”) is pleased to announce that it has resumed exploration activities in Peru by optioning the Majo Project, located in South-Central Peru, from Alpha Mining S.A.C. (“Alpha”).
“We are thrilled to be in the position to renew our focus on exploration within a proven high sulphidation epithermal belt in South-Central Peru. Our team's extensive experience in this area, coupled with such promising historical exploration results from the Majo Project, are the perfect opportunity to develop the untapped potential of the belt. With our Mexican assets progressing well in the hands of capable partners, we are eager to apply our expertise to advance the Majo Project and unlock its potential,” states Matthew Melnyk, Director and Structural Geologist.
The Majo Project is located in a known gold and silver high sulphidation epithermal belt in South-Central Peru, where several major companies, including Teck, Sumitomo, Fresnillo, Rio Tinto and Pan American Silver, hold significant land packages and various deposits have been delineated, including Corihuarmi, Pico Machay, Breapampa, Minasnioc, San Genaro, Ccarhuaraso and Palla Palla.
Previous work has identified anomalous levels of gold and silver across an area extending over 1.0 km in length and 0.5 km in width, associated with Miocene-Pliocene magmatic activity and NW-SE structural controls. Host rocks are part of a package of Oligocene and Pliocene volcanic rocks similar to those hosting the Yanacocha, Alto Chicama, Pierina, Poracota, Arasi and Aruntani deposits (see Figure 1 below).
Rock chip samples contain anomalous levels of gold ranging from 0.1 to 7.7 grams per tonne (“gpt”) in hydrothermally altered rocks with vuggy silica, massive silica, silica - alunite alterations and hydrothermal breccias in outcrops within the gold-silver anomalous zone. No trenching or pitting has been conducted to date to explore areas where bedrock is hidden by alluvial cover.
Although the property has never been drilled, drill targets have been identified by third parties and some Environmental and Social Impact Assessment (“ESIA”) work has been conducted towards drill permits. Xali Gold will conduct their own fieldwork to better refine drill targets already identified and potentially find additional targets.
Xali Gold Options High Sulphidation Gold Project in Central Peru
Figure 1: Majo Project Location with Oligocene-Pliocene Epithermal Belt of Peru
Xali Gold and Alpha have entered into a binding Memorandum of Understanding (“MOU”) with the following terms to acquire 100% interest in the Majo Project:
1) Pay all Annual Mining Fees commencing with those due in June 2024 (paid);
2) Issue 50,000 shares in Xali Gold on signing the Definitive Agreement;
3) Issue 100,000 shares within 30 days of receiving the first drilling permit;
4) Pay $50,000 cash upon the closing of a financing by Xali Gold for the drill program (minimum financing of $1,000,000);
5) Execute a drill program of a minimum of 3,000 metres;
6) Deliver $100,000 in cash or shares 12 months after receiving drilling permits;
7) Deliver $150,000 in cash or shares 24 months after receiving drilling permits;
8) Deliver $200,000 in cash or shares 36 months after receiving drilling permits; and
9) Grant a 1.5% net smelter return to Alpha, with a buyout option of $1.5M in cash or shares.
A Definitive Agreement will replace the MOU.
About Xali Gold
Xali Gold holds gold and silver exploration and development projects in Peru and Mexico. The Mexican projects all have partners investing in and developing them. Xali Gold maintains 100% of the rights to new discoveries at El Oro and plans to drill there as soon as underground access is developed.
Xali Gold’s flagship project is El Oro, which is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver low-sulphidation epithermal vein system in Central Mexico. Approximately 6.4M ozs of gold and 74M ozs of silver were reported to have been produced from just two veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of the El Oro and Tlapujahua Districts, 1920, T. Flores). Xali Gold has identified the potential for a stacked boiling system which may have precipitated gold and silver over vertical extents much greater than the historic workings of the veins mined to date at El Oro. This indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings.
Xali Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., President and CEO is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze has reviewed and approved the contents of this release. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Xali Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director
For further information please contact:
Joanne Freeze, President & CEO
Tel: + 1 (604) 512 3359
info@xaligold.com
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws), including, but not limited to, historical production records. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they may address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Xali Gold’s MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f0c913f1-777b-4b16-98fb-c213de73366f
Aftermath Silver Begins Drilling at Berenguela, Issues Warrants and Grants Options
https://www.newsfilecorp.com/release/222084
September 04, 2024 8:30 AM EDT | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce that a targeted follow-up drill campaign of 4,000m of diamond drilling has started at its Berenguela Ag-Cu-Mn project in in Puno province, southern Peru. The drill program has three main objectives:
to upgrade part of the inferred resources to measured or indicated resources primarily on the western and northern margins of the known mineralisation;
to furtherdefine the mineralisation between the western and central areas; and
to drill untested areas in the south-east zone of the known mineralisation in an area where historic drilling encountered higher copper grades than the main area of mineralization.
Aftermath has retained AK Drilling of Lima, who completed Aftermath's successful 2021/22 63-hole program (see news release dated August 31, 2024 linked here.) to complete the current planned drilling. AK will be using a D800 drill rig which requires less site preparation and can drill in areas of steeper topography which were not accessible in the 2021/2 campaign. Assays will be carried out at ALS in Lima. Following results, Aftermath intends to update the resource inventory at Berenguela, during 2025.
Aftermath Issues Warrants, Grants Options
Stock Option Grant
The Company also announces that it has granted a total of 5,025,000 stock options ("Options") to purchase common shares of the Company to certain officers, employees and consultants pursuant to the Company's stock option plan. Such options are exercisable into common shares of the Company at an exercise price of Cdn$0.35 per common share for a period of five years from the date of grant. The stock options are subject to regulatory approval, will vest over a period of twelve months and are granted under the Company's stock option plan.
In addition, the Company has issued a total of 2,350,000 restricted share units ("RSUs") to certain directors, officers and employees of the Company in accordance with the Company's Restricted Share Unit Plan ("RSU Plan"). The RSUs vest 1/3 immediately and 1/3 annually thereafter and will fully vest on the date that is three years from the date of grant. Once vested, each RSU represents the right to receive one common share of the Company or the equivalent cash value thereof, at the Company's discretion.
Warrants
The Company wishes to clarify disclosure in its press release dated April 2, 2024 announcing the closing of the first tranche (the "First Tranche") of the Company's previously announced non-brokered private placement. The press release incorrectly disclosed that the Company had issued 273,840 finder's warrants (the "Finder's Warrants") and paid commissions of $66,444.68 to certain finders in connection with the First Tranche. In connection with closing of the First Tranche, the Company issued an aggregate of 470,204 Finder's Warrants and paid aggregate cash commissions of $109,444.68 to certain finders. Each Finder's Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.32 for a period of 24 months from the date of issuance.
Qualified person
Michael Parker, a fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person, as defined by National Instrument 43-101. Mr. Parker has reviewed the technical content of this news release and consents to the information provided in the form and context in which it appears.
Berenguela Project: Background
The Company has an option to acquire a 100% interest in Berenguela through a binding agreement with SSR Mining.
Berenguela hosts a potentially open-pittable silver-copper-manganese resource close to Santa Lucia in Puno province, southern Peru.
Silver, copper and manganese have crucial industrial applications in the clean energy and battery spaces. Copper and manganese have been designated critical metals by the US government and the European Union.
The project is less than 6km from road, rail and power lines and 4 hours from Arequipa by sealed road.
Aftermath published a resource estimate in March 2023 based on over 300 core and RC holes.
Metallurgical test work is underway adding to historic work, with the goal of producing silver and copper metal and a commercial battery-grade or fertilizer-grade manganese product.
About Aftermath Silver Ltd.
Aftermath Silver Ltd. is a leading Canadian junior exploration company focused on silver, and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The Company's projects have been selected based on growth and development potential.
Challacollo Silver-Gold project. The Company recently completed the acquisition of a 100% interest in the Challacollo silver-gold project from Mandalay Resources; see Company news release dated August 11, 2022. A NI 43-101 mineral resource was released on December 15, 2020 (available on SEDAR and the Company's web page). The Company is currently permitting road access in anticipation of an upcoming drill program.
Cachinal Silver-Gold project. The Company owns a 100% interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta. On September 16, 2020, the Company released a CIM compliant Mineral Resource and accompanying NI 43-101 Technical Report (available on SEDAR and on the Company's web page).
ON BEHALF OF THE BOARD OF DIRECTORS
"Ralph Rushton"
Ralph Rushton
CEO and Director
604-484-7855
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain of the statements and information in this news release constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; differing results and recommendations in the Feasibility Study; and general economic, market or business conditions. In addition, forward-looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver's profile at www.sedarplus.ca.
There is no certainty that any forward-looking statement will come to pass and investors should not place undue reliance upon forward-looking statements. The Company does not undertake to provide updates to any of the forward-looking statements in this release, except as required by law.
Cautionary Note to US Investors - Mineral Resources
This News Release has been prepared in accordance with the requirements of Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (''NI 43-101'') and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.
SOURCE: Aftermath Silver Ltd.
Cerro de Pasco Resources Announces Sale of its Santander Mine
https://ca.finance.yahoo.com/news/cerro-pasco-resources-announces-sale-122500627.html
Cerro de Pasco Resources
Tue, September 3, 2024 at 5:25 a.m. PDT·4 min read
GPPRF
+1.00%
MONTREAL, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (Frankfurt: N8HP) (“CDPR,” or the “Company”) today announced that it has entered into a share purchase agreement (the “Agreement”) with FIC03 Fondo de Inversión Privado (“FIC03”), a Peruvian investment company controlled by Finanzas e Inversiones Corporativas (“FIC”). FIC specializes in managing alternative and distressed investments across various industries. Under the Agreement, the Company has agreed to sell its Santander Mine in Peru to FIC03 (the “Transaction”).
Guy Goulet, CEO, commented, "The sale of the Santander Mine aligns with our strategy to focus on reducing corporate debt. We thank the Santander team for their commitment and dedication, and we wish them success in executing the projects we have developed together."
Transaction Highlights
Pursuant to the Agreement which is effective as of August 29, 2024, CDPR has sold the shares of its Peruvian subsidiary Cerro de Pasco Resources Subsidiaria del Peru S.A.C., that holds the interest in the Santander mine, including all assets and liabilities associated with it, to FIC03, in exchange for a consideration comprised of a cash component of $2.00 and a variable price of up to $10,000,000, to be calculated, determined and paid according to the terms of the Share Purchase Agreement, from the date on which commercial production has been reached in the Santander Pipe. As part of the Transaction, the Company agrees to settle over time outstanding obligations incurred between itself and its subsidiaries.
The Transaction is an "arm's length transaction".
About Finanzas e Inversiones Corporativas
FIC is a leading firm in private equity fund management in Peru. FIC recently announced an ambitious expansion of its investment portfolio, focusing on large-scale mining projects in the central region of the country. This move is driven by growing international demand for key minerals such as gold, copper, and zinc, where FIC aims to strengthen its market position.
The Santander Mine
Cerro de Pasco Resources acquired the Santander mine in late 2021. In June 2023 the operation underwent curtailment due to macro-economic pressures affecting zinc price. The assets include a 2,500 tonne per day sulfide milling and flotation plant. CDPR developed a consolidated Mine Plan comprising the current resource at Magistral and all the known resources at the Santander Pipe.
About Cerro de Pasco Resources Inc.
Cerro de Pasco Resources is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit mine in Central Peru. The Company’s approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. The asset is one of the world’s largest above-ground resources.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward-looking information” or “forward-looking statements” under Canadian securities legislation. Generally, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, occur or be taken or achieved. Such forward-looking statements, including but not limited to statements relating to: the ability of the parties to satisfy the conditions precedent to the Transaction; the anticipated closing, timing, benefits and effects of the Transaction; and expected development and operations, involve risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Such factors include, among others, the exercise of any termination rights under the Agreement, inability of the parties to satisfy or waive in a timely manner the conditions to the closing of the Transaction, inability of the Company to realize the benefits of the Transaction, risks related to the exploration, development and mining operations; impacts of macroeconomic developments as well as the impact of the COVID-19 pandemic; and any material adverse effect on the business, properties and assets of the Company. 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. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Contact Information
Cerro de Pasco Resources Inc.
Guy Goulet, CEO
Tel.: 579 476-7000
Email: ggoulet@pascoresources.com
Turmalina Metals Announces TSXV Approval for Option Agreement
https://ca.finance.yahoo.com/news/turmalina-metals-corp-announces-tsxv-090000833.html
Turmalina Metals Corp.
Tue, September 3, 2024 at 2:00 a.m. PDT·5 min read
TBXXF
+16.00%
VANCOUVER, British Columbia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) is pleased to announce that, further to its news release on July 3rd, 2024, the Company has received approval from the TSX Venture Exchange (the “TSXV”) for its Mineral Property Option Agreement (the “Option Agreement”) enter into with Compania De Minas Buenaventura S.A.A. (the “Optionor”) and Aurora Copper Peru, a wholly-owned subsidiary of the (“Turmalina SubCo”). Pursuant to the terms and conditions of the Option Agreement, the Optionor has granted Turmalina SubCo the option (the “Option”) to acquire 100% of the Optionor’s title and interest in and to the nine (9) mining concessions located in Peru (the “Colquemayo Project”). The Optionor is at arm’s length from the Company and Turmalina SubCo.
Further information with respect to the Colquemayo Project is included in the Company’s news releases on July 3rd and July 24th. A copy of the Option Agreement is available under the Company’s SEDAR+ profile at www.sedarplus.ca.
Commercial Terms
Pursuant to the terms and conditions of the Option Agreement, in order to exercise the Option, Turmalina SubCo must:
(i) pay the Optionor an aggregate of US$1,560,000 in cash (collectively, the “Cash Payments”), as follows:
a. $60,000 on or prior to the one (1) year anniversary of the date that is three (3) business days following the TSXV’s approval of the Option Agreement and all transactions contemplated therein (such date being referred to as the “Effective Date”);
b. $200,000 on or prior to the one (1) year anniversary of the date that is the later of (i) the one (1) year anniversary of the Effective Date, and (ii) the date which an exploration permit is granted with respect to the Colquemayo Project (such date being referred to as the “Trigger Date”);
c. $250,000 on or prior to the two (2) year anniversary of the Trigger Date;
d. $250,000 on or prior to the three (3) year anniversary of the Trigger Date;
e. $800,000 on or prior to the four (4) year anniversary of the Trigger Date; and
(ii) incur an aggregate of $6,200,000 in exploration expenditures on the Colquemayo Project, as follows:
a. $200,000 of exploration expenditures by the one (1) year anniversary of the date on which the Option Agreement is executed;
b. cumulative exploration expenditures of $1,200,000 by the one (1) year anniversary of the Trigger Date;
c. cumulative exploration expenditures of $2,200,000 by the two (2) year anniversary of the Trigger Date;
d. cumulative exploration expenditures of $4,200,000 by the three (3) year anniversary of the Trigger Date; and
e. cumulative exploration expenditures of $6,200,000 by the four (4) year anniversary of the Trigger Date.
However, the Company may satisfy up to 50% of the Cash Payments by issuing the Optionor common shares in the capital of the Company (the “Consideration Shares”). The Consideration Shares, if issued, will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Following the exercise of the Option, Turmalina SubCo must pay the Optionor a 2.0% net smelter returns royalty on the Colquemayo Project (the “Royalty”). Turmalina SubCo may repurchase 1.0% of the Royalty, on or any time prior to the one (1) year anniversary of the commencement of commercial production on the Colquemayo Project, for a one-time cash payment of $2,500,000, thus reducing the Royalty to 1.0%.
On Behalf of the Company,
James Rogers, Chief Executive Officer and Director.
Website: turmalinametals.com
Address: #1507 - 1030 West Georgia St, Vancouver, BC V6E 3M5.
For Investor Relations enquiries, please contact +1 833 923 3334 (toll free) or via info@turmalinametals.com.
Statements
About Turmalina Metals and our projects: Turmalina Metals is a TSXV-listed exploration company focused on developing our portfolio of high-grade gold-copper-silver projects in South America. Turmalina Metals is led by a team responsible for multiple gold-copper-silver discoveries. Our projects are characterised by open high-grade mineralization on established mining licenses that present compelling drill targets. The principal project held by Turmalina is the San Francisco project in San Juan, Argentina. For further information on the San Francisco Project, refer to the technical report entitled “NI43-101 Technical Report San Francisco Copper Gold Project, San Juan Province, Argentina” dated November 17, 2019 under the Corporation’s profile at www.sedarplus.ca.
Forward Looking Statement: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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 or has in any way approved or disapproved of the contents of this news release.
Roberto Resources to trade on CSE Sept. 5
https://www.stockwatch.com/News/Item/Z-C!RBTO-3595472/C/RBTO
2024-08-30 16:57 ET - New Listing
CSE bulletin 2024-0836
The common shares of Roberto Resources Inc. have been approved for listing on the Canadian Securities Exchange.
Listing and disclosure documents will be available on the CSE website on the trading date.
Roberto Resources was incorporated in British Columbia, Canada, and is focused on continuing exploration work that has indicated widespread, high-grade copper-gold mineralization hosted within Manto-style veins and disseminations. Roberto Resources currently holds an option to acquire a 100-per-cent interest in the three exploration concessions totalling 2,800 hectares called the Janampalla property, located in Peru.
Issuer: Roberto Resources
Security type: common shares
Symbol: RBTO
Number of securities issued and outstanding: 20,160,001
Number of securities reserved for issuance: 12.15 million
CSE sector: mining
Cusip No.: 770363 10 9
ISIN: CA 770363 10 9 2
Board lot: 500
Initial public offering price: 10 cents
Agent: Research Capital Corp.
Trading currency: Canadian dollar
Listing date: Sept. 3, 2024
Trading date: Sept. 5, 2024
Other exchanges: not applicable
Fiscal year-end: March 31
Transfer agent: Endeavor Trust Corp.
The exchange is accepting market-maker applications for RBTO.
Silver X Reports Strong Q2 2024 Financial Results
https://www.accesswire.com/910003/silver-x-reports-strong-q2-2024-financial-results
Thursday, 29 August 2024 05:55 PM
(All dollar amounts expressed in US dollars unless otherwise noted)
VANCOUVER, BC / ACCESSWIRE / August 29, 2024 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX)
DLP Reports Results from Its Initial Metallurgical Study on Its Aurora Property, Peru
High recoveries achieved (95.8% Cu, 86.4% Mo, 89.3% Ag) to saleable concentrates.
https://www.newsfilecorp.com/release/221457
August 29, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - August 29, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF
Cerro de Pasco Resources is Granted Historic Authorization and Starts Drilling Quiulacocha Tailings
First Phase Geophysics Study completed
Chttps://ca.finance.yahoo.com/news/cerro-pasco-resources-granted-historic-120000876.html
erro de Pasco Resources
Tue, August 27, 2024 at 5:00 a.m. PDT·5 min read
GPPRF
+0.45%
MONTRÉAL, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) (“CDPR” or the “Company”) is pleased to inform that it has received the required authorization for the Initiation of Exploration Activities from the Peruvian Ministry of Energy and Mines. This represents the first-ever such authorization to be granted in Peru for a new mining exploration project within a tailings storage facility.
Accordingly, the Company is now installing its first drill rig to begin its Phase I drilling program at the Quiulacocha Tailings Project (“QT Project”).
The Company has in parallel completed first phase Geophysical Studies to outline the bottom surface of the tailings deposit.
Guy Goulet comments: “This is a significant milestone for the country: This is the first ever drilling authorization granted for a new mining exploration project over tailings in the history of Peru, not related to a beneficiation concession. It is also a very exciting stage for CDPR as we will finally discover the true value of the QT tailings and be able to produce a Master Plan for the entire Quiulacocha tailings resource. CDPR will update the market with drill results as soon as they become available."
Drilling Program
CDPR has hired Ingetrol Comercial S.A.C., a Peruvian subsidiary of Grupo Ingetrol, to perform the Phase I Drilling campaign. Over a period of approximately eight weeks, Ingetrol will carry out 40 drill holes to gather more than 1,000 tailings samples, facilitating comprehensive data acquisition throughout the entire depth of the Quiulacocha tailings.
Laboratory Testing
Inspectorate Services Perú S.A.C., a Peruvian subsidiary of Bureau Veritas, will conduct the geochemical and metallurgical testing program in Lima, Peru and Antofagasta, Chile. The tailings samples, taken at every meter, will be dispatched to the Bureau Veritas lab in Lima for a 60-element ICP Analysis and other assays. Subsequently, the tailings samples will be combined into representative composites and sent to Antofagasta, Chile, for metallurgical testing.
This extensive laboratory program will determine the mineral resource estimate and metallurgical methods for the reprocessing of the Quiulacocha tailings.
Geophysics
CDPR has enlisted Geomain Ingenieros S.A.C., a Peruvian company specializing in geophysical applications for mineral exploration and engineering, to conduct Phase 1 geophysics. Geomain Ingenieros S.A.C. has successfully completed over 9,000 m of geophysical surveys on the dry portion of the Quiulacocha tailings. The preliminary interpretation of the geophysical profiles indicates that the tailings deposit surpasses 40 meters in depth in certain locations, exceeding the original expectations.
The Quiulacocha Tailings
CDPR is the titleholder of the concession located in Peru called “El Metalurgista”, which grants it the right to explore and exploit the Quiulacocha Tailings located within its assigned area. The enforceability of these rights has been formally confirmed by the General Mining Bureau of Peruvian Ministry of Energy and Mines.
The Quiulacocha Tailings Storage Facility covers approximately 115 hectares and is estimated to hold approximately 75 million tonnes of material processed from the 1920s to 1990s.
Initially these tailings resulted from the mining 16+ million tonnes of copper-silver-gold mineralization with reported historical grades of up to 10% Cu, 4 g/t Au and over 300 g/t Ag and later from the mining of 58+ million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb and 90.33 g/t Ag.
With minimal mining costs due to surface-level material and current reprocessing capacity at adjacent plants, CDPR's Quiulacocha Project stands out as one of Peru's key mining initiatives. This endeavor not only promises economic benefits but also aims to restore the environment and create employment opportunities, aligning with the local community's needs.
Technical Information
Mr. Alfonso Palacio Castilla, MIMMM/Chartered Engineer (CEng) and Project Superintendent for CDPR, has reviewed and approved the scientific and technical information contained in this news release. Mr. Palacio is a Qualified Person for the purposes of reporting in compliance with NI 43-101.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit mine in Central Peru. The company’s approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. The asset is one of the world’s largest above-ground resources.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions.
Forward-looking statements, including the expectations of CDPR’s management regarding the realization, timing and scope of its drilling program, the completion of a resource report as well as the business and the expansion and growth of CDPR’s operations, are based on CDPR’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CDPR to be materially different from those expressed or implied by such forward-looking statements or forward-looking information.
Forward-looking statements are subject to business and economic factors and uncertainties and other factors, that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in CDPR’s public documents, available on SEDAR+ at www.sedarplus.ca. 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. Although CDPR believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements and forward-looking information. Except where required by applicable law, CDPR disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000
Mobile: +1-514-294-7000
ggoulet@pascoresources.com
Hannan Commences 79 Line Kilometres Geophysical Survey on Five Porphyry-Epithermal Targets at Valiente, Peru
https://www.accesswire.com/907451/hannan-commences-79-line-kilometres-geophysical-survey-on-five-porphyry-epithermal-targets-at-valiente-peru
Monday, 26 August 2024 06:30 AM
VANCOUVER, BC / ACCESSWIRE / August 26, 2024 / Hannan Metals Limited's ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF) is pleased to announce that it has commenced a 79 line km Induced Polarization ("IP) geophysical survey at five porphyry - epithermal targets at the 100%-owned Valiente Project in Peru (Figure 1 and 2).
Highlights:
Five porphyry - epithermal targets are being surveyed with 79 line km of IP geophysics over the next two months (Figure 2). The aim of the surveys is to both refine drill targets as well as demonstrate the scale to depth of five large mineral systems developed at Valiente. Specific areas to be surveyed include:
1. Previsto Central Copper-Gold Porphyry 2D survey: A 12.5 line km dipole-dipole IP survey transecting the very large 5 km x 3 km footprint of a porphyry mineralized system where the company has sampled 126 m @ 0.22% Cu (reported here) (Figure 3).
2. Previsto East Epithermal Gold 2D survey: A 2.5 line km dipole-dipole IP survey transecting the 1.8 km x 0.4 km wide strong gold-copper soil and boulder anomaly thought to represent a blind alkalic epithermal target (reported here) (Figure 3).
3. Ricardo Herrera Porphyry Copper 3D survey: A 28 line km offset array 3D IP survey crossing the Riccardo Herrera outcropping Miocene calc-alkalic porphyry target where copper mineralization on surface coincides with strong phyllic and intermediate argillic alteration over 800 m x 250 m. A 2D orientation survey in 2023 mapped the Riccardo Herrera porphyry to at least 500 m depth (reported here) (Figure 4). The survey covers the area where the company is currently permitting 14 drill platforms.
4. Vista Alegre Epithermal Gold and Porphyry Copper 3D survey: A 23 line km offset array 3D IP survey over the Vista Alegre multi-signature target with strong similarities to both high-sulphidation epithermal gold and porphyry copper mineralization. Sampling of soil and mineralized boulders has outlined a 1.7 km long gold trend with boulders assaying up 2.69 g/t Au (reported here). Surface mapping has also identified zones of porphyry related alteration with strong supergene overprint (Figure 5). The survey covers the area where the company is currently permitting 13 drill platforms.
5. Sortilegio Copper-Gold Porphyry3D survey: A 13 line km offset array 3D IP survey over the Sortilegio 1.8 km x 1 km alkalic porphyry target. The porphyry is cut by goethite veinlets stockworks where 26 channels averaged 3.3 m @ 687 ppm Cu and with a maximum of 4,365 ppm Cu and minimum of 258 ppm and high grade copper gold boulders assayed up to 16% Cu and 4.39 g/t Au (reported here) (Figure 6). The survey covers the area where the company is currently permitting 13 drill platforms.
Drill permitting at Valiente: Ricardo Herrera, Vista Alegre and Sortilegio are progressing well, and the Company believes the final drill permit may be granted during Q4 2024 with drilling to commence soon thereafter. Previsto Central and Previsto East are currently being evaluated and drill permitting is anticipated to commence later this year.
Michael Hudson, CEO, states: "Over the course of this year we have continued to discover a previously unknown district-scale Miocene-porphyry cluster in the back arc of Peru, within an area of 25 km by 10 km at the Previsto/Belen areas held within the 100%-owned Valiente project. We now have identified eight porphyry and/or epithermal targets in detail with up to 10 earlier stage targets awaiting further work. "
"The geophysical surveys we have just commenced aim to test five of the most advanced targets area to refine drill targets at Ricardo Herrera, Vista Alegre and Sortilegio. These projects are all going through the final drill permitting process. Additionally, the geophysical surveys aim to demonstrate the opportunities at depth below the large scale Previsto Central and Previsto East targets.
"Only Ricardo Herrara has been surveyed with an earlier and more preliminary geophysical survey, and we highly anticipate the results from the first ever IP surveys on the other areas as we work to derisk and move all these large-scale copper-gold mineral systems toward their maiden drill programs."
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 discovered in 2021 during an extensive mineral prospecting exploration program initiated by Hannan for back-arc porphyry copper-gold systems. The Company has been actively exploring 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. Early surface prospecting discovered two outcropping copper-gold porphyry targets and one epithermal target at Belen (see Press Release Feb 16, 2023) that is now being drill permitted (Figures 1 and 2). Porphyry discoveries 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.
In January 2024 Hannan submitted it first drilling application (DIA) covering two porphyry targets and one epithermal target at the Belen zone (here for news release). The company is now expanding the footprint by exploring new areas to build a pipeline of projects that will be permitted, and drill tested over the coming five years.
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 preformed on 0.25g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS. Channel samples are considered representative of the in-situ mineralization samples and sample widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property. 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 routing use of CRM and field duplicates as well as 10% check samples analyzed by ALS Lima.
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration company 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. Hannan is a top ten in-country explorer by area in Peru.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical disclosure contained in 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.
DLP Resources Intersects 216.15m of 0.82% CuEq* Within an Interval of 1080.15m of 0.32% CuEq*on the Aurora Project in Southern Peru
https://www.newsfilecorp.com/release/220036
August 15, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - August 15, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
Palamina Drill Program Underway at Its Usicayos Gold Project
https://www.newsfilecorp.com/release/219767
August 13, 2024 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - August 13, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has commenced drilling in the Sol de Oro ("SDO") zone at its 100% owned Usicayos Gold Project in south eastern Peru. Drill equipment was successfully mobilized and a fully functioning field camp is in place to support the program.
Seven diamond drill holes totaling approximately 3,000 metres are planned to test the SDO East, SDO South and SDO North zones. Company geologists have identified continuous, high-grade, gold-bearing shear zones hosted in Paleozoic shales, siltstones and sandstones typical of the Puno Orogenic Gold Belt.
"Palamina geologists believe that the Sol de Oro zone being drill tested is the heart of the 1.5 by 4.5 km gold bearing orogenic system identified at Usicayos. This is the first time that the main shear zone at Usicayos is being drill tested following the consolidation of ownership of all the internal mining concessions and completion of the permitting process." commented Andrew Thomson, Palamina's President.
The SDO zone is controlled by shear zones developed by regional thrusting. The host shear zone at SDO is the widest identified at Usicayos to-date, broadly measuring approximately 1.5 km in width and 2.2 km in strike length. Gold mineralization is found along continuous "mantos" developed parallel to foliation along carbonaceous shear zones. The foliation of the host rocks, either side of a major NW-SE fault, dips steeply towards the center suggesting a possible near vertical feeder zone (or "flower structure") at the heart of the SDO zone. The upcoming drill program at SDO is designed to test this working interpretation.
Drilling will begin on platform VF01 in the SDO East zone, where some of the highest-grade surface sampling results have been observed including 4m of 5.2 g/t Au from channel sampling. Three of the seven planned drill platforms have been built and the company plans to drill between one and two drill holes from each platform to quickly build a three-dimensional geological model of the mineralized shear zone. Figure 1 shows the location of the planned drill platforms at SDO.
Figure 1 - Drill hole location map with mapped mantos and surface sampling results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/219767_835f0af0a40e0b8c_002full.jpg
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 a gold 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 projects. Winshear plans to conduct an inaugural drill program at their Gaban Gold Project in 2024. Palamina has 71,284,836 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 use of proceeds of the Offering and the Company's future business 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.
Copper Standard Confirms Presence of Porphyry Copper-Gold System and Drills 118 m @ 0.68 g/t Au from Surface at Its Colpayoc Property
https://www.newsfilecorp.com/release/219537
August 12, 2024 8:00 AM EDT | Source: Copper Standard Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - August 12, 2024) - Copper Standard Resources Inc. (CSE: CSR)
Hannan Channel Samples 126 Metres @ 0.22 % Copper from Previsto Central in Peru
https://www.accesswire.com/896734/hannan-channel-samples-126-metres-022-copper-from-previsto-central-in-peru
Tuesday, 06 August 2024 06:30 AM
VANCOUVER, BC / ACCESSWIRE / August 6, 2024 / Hannan Metals Limited's ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF) is pleased to announce that a significant copper-gold porphyry discovery continues to expand at the Previsto Central prospect within the 100%-owned Valiente Project in Peru (Figures 1 and 2).
Highlights:
Expanding copper-gold porphyry footprint over 5 km x 3 km: Top of ridge soil sampling and mapping and prospecting in creeks has expanded the footprint of the porphyry mineralized system at Previsto Central over 5 km x 3 km.
Extensive leached copper mineralization discovered in outcrop: Impressive copper-rich outcrops have been identified in creeks (Figures 3-8). Two channels, separated by 700 m are reported here:
CH14455: 126 m @ 0.22% Cu
CH15391: 192 m @ 0.16% Cu
Large team mobilized: A team of 30 including geologists, technicians and local support are working on the project undertaking soil sampling and mapping.
Large scale geophysical survey soon to commence: Project-scale induced polarization (IP) geophysics soon to commence with the aim of mapping the vast porphyry target to depth.
LiDAR contract signed: A large-scale LiDAR survey over 7 km by 10 km will be flown over the coming month to accelerate exploration by identifying outcrops and mapping the geology of the mineralized system.
Michael Hudson, CEO, states: "Field work during the optimal dry season with a large 30-person team continues to expand the Previsto Central porphyry system with top of ridge soil sampling. mapping and prospecting in creeks over 5 km x 3 km. We are now starting to understand this mineralized system better, with gold-rich areas in the upper western areas (800 m higher vertical relief) transitioning to more copper-rich areas lower in the system to the east. We look forward to further results, including the first geophysics on the project, as the large team continues to de-risk the project and move it forward to drill permitting as soon as possible."
Top of ridge soil sampling, mapping and prospecting in creeks has expanded the footprint of the porphyry mineralized system at Previsto Central over 5 km x 3 km (Figures 3-8). The K-feldspar porphyry with meta-crystic K-feldspar porphyry dykes show moderate to pervasive phyllic alteration assemblage with some zones of argillic intermediate alteration. Impressively field teams have now started to discover extensive zones of outcropping copper mineralization within creeks traversed for the first time, over 700 m of strike. Copper mineralization is hosted within strongly leached phyllic altered, fractured K-felspar porphyry with disseminated pyrite-chalcopyrite, malachite, chrysocolla, neotocite, goethite and jarosite. Two channel samples are reported here:
CH14455: 126 m @ 0.22% Cu, including:
2.5 m @ 0.10 g/t Au and 0.41 % Cu from 50m
3 m @ 0.11 g/t Au and 0.15 % Cu form 82m
CH15391: 192 m @ 0.16% Cu
Previsto Central is defined by a large 10 km by 5 kmairborne magnetic and radiometric anomaly. Alteration associated with porphyry intrusions is often magnetic (from magnetite) and potassic (from sericite/biotite/K-feldspar). At Previsto anomalous soil anomalies are associated with areas of elevated magnetics and potassium indicating minerals associated with porphyry alteration. The footprint dimensions of the alteration system at Previsto are considered significant on a global scale for a porphyry system. This area remains the main focus of the Company's field programs during the dry season.
This Previsto Central prospect is located 2.5 km west of the Previsto East (reported on April 10, 2024). The style of mineralization observed at both prospects show strong similarities, where alteration assemblages and mineralization styles include hydrothermal breccias, intense phyllic alteration and relics of potassic alteration, roscoelite veining/dissemination and replacement of feldspars, observed sulfide minerals include chalcopyrite, molybdenite, pyrite. Veining is rare and generally only thin quartz and quartz-pyrite-iron oxide veinlets have been observed in boulders. The porphyries intrude Cretaceous sandstones and limestone sediments.
Litho-geochemistry at Previsto shows a clear alkaline composition of the porphyry instructive host. The porphyries intrude sediments (sandstone, limestone, and shale) which show contact metasomatism around dykes and intrusive stocks.
Hannan is planning a 15-line km pole-dipole induced polarization geophysical survey to demonstrate the scale and extent of the mineral system at Previsto in three dimensions. The Company also plans a regional LiDAR survey across the Previsto Central and Previsto East areas to help define outcropping areas and plan logistics.
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 discovered 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. Early surface prospecting discovered two outcropping copper-gold porphyry targets and one epithermal target at Belen (see Press Release Feb 16, 2023) that is now being drill permitted (Figures 1 and 2). Porphyry discoveries 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.
In January 2024 Hannan submitted it first drilling application (DIA) covering two porphyry targets and one epithermal target at the Belen zone (here for news release). The company is now expanding the footprint by prospecting new areas to build a pipeline of projects that will be permitted, and drill tested over the coming five years.
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 preformed on 0.25g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS. Channel samples are considered representative of the in-situ mineralization samples and sample widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property. 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 routing use of CRM and field duplicates as well as 10% check samples analyzed by ALS Lima.
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and exploration company 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. Hannan is a top ten in-country explorer by area in Peru.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical disclosure contained in 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.
First Andes Silver Receives Approvals and Mobilizes Drill Rig for Santas Gloria Silver Property
https://www.newsfilecorp.com/release/218085
July 29, 2024 8:00 AM EDT | Source: First Andes Silver Ltd
. Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ) (the "Company" or "First Andes") is pleased to announce that, following the Ministry of Mines (Peru) inspection of drill site at the Santas Gloria silver property, it has received authorization from the Ministry of Mines (Peru) to commence its permitted drill program at the Santas Gloria silver property. The drill rig has now been mobilized, arriving on site on August 3, 2024, with the maiden drill program targeted to commence August 5, 2024.
The drill program will focus on strike and depth extensions of high-grade silver-base metal mineralized segments of the Tembladera and San Jorge veins, which have been defined by channel sampling of surface veins and underground workings (Figure 1).
San Jorge is a multiphase silver-rich intermediate sulphidation epithermal vein system, that is up to 6 meters wide at the surface and has been mapped over 2 strike kilometers. Drilling will test the down dip extensions of a high-grade zone that returned surface channel samples assays of between 93 to 2500 g/t Ag over 450 m strike length. First Andes also plans to target a high-grade mineralized shoot beneath historical underground mine workings which returned underground channel samples grades of up to 3210 g/t Ag.
The Tembladera vein system is a complex of silver-rich intermediate sulphidation vein splays and breccia's in the south of the Santas Gloria silver property, with a cumulative vein strike length of over 4 kilometers. Drilling at Tembladera will test the downdip and strike extensions of the vein where underground channel sampling by the Company that returned grades of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn. Additional drilling will also focus on the near surface down dip extensions of high-grade silver mineralization which has been defined in surface channel samples over a strike length of 400 meters along the Tembladera 1 and Tembladera 2 veins.
Figure 1: Map of the Santas Gloria Property showing planned drill pads, hole traces and channel sampling results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10525/218085_e62651c194541b0c_002full.jpg
The Santas Glorias property is approximately 100 km from Lima, is at a relatively low altitude of 3300 m, and benefits from a community access agreement that is valid until 2028. The Company was awarded three archaeology certificates (CIRA) that cover key drill targets and confirm that there are no archaeological impediments to drilling. The Company's environmental application (Ficha Tecnica Ambiental) and water permits have been accepted and an authorization for drilling (AIA) up to 20 pads. The Company elected to initially construct only 10 of the possible 20 pads - allowing for optionality of pad location for a second round of drilling. Multiple diamond holes can be drilled off each pad.
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 Peru.
For more information please contact:
Jacob Garland
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.
Regulus Signs Collaboration Agreement with Compania Minera Coimolache S.A. to Evaluate the Integrated Coimolache Sulphides/AntaKori Copper-Gold Project
https://www.accesswire.com/893371/regulus-signs-collaboration-agreement-with-compania-minera-coimolache-sa-to-evaluate-the-integrated-coimolache-sulphidesantakori-copper-gold-project
Monday, 29 July 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / July 29, 2024 / Regulus Resources Inc. ("Regulus" or the "Company") (TSXV:REG)(OTCQX:RGLSF
Turmalina Metals Corp. Provides Update on the Colquemayo Project
https://ca.finance.yahoo.com/news/turmalina-metals-corp-provides-colquemayo-120000284.html
Turmalina Metals Corp.
Wed, July 24, 2024 at 5:00 a.m. PDT·9 min read
TBXXF
+7.53%
VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) is pleased to provide an update on the Company’s recently announced (press release of July 3, 2024) Option to acquire 100% of the Colquemayo Project in Peru (the “Option”).
Highlights of the Colquemayo Project:
Epithermal and porphyry copper-silver-gold exploration project in Moquegua Province, Southern Peru.
Historic drill results include an intersection that returned:
237.3 m at 2.4% Cu, 0.08 g/t Au & 10 g/t Ag,
including 161.2 m at 3.4% Cu, 0.09 g/t Au & 14 g/t Ag
and 31.3 m at 14.8% Cu, 0.2 g/t Au & 47 g/t Ag.
6,600 hectare property.
Option to acquire 100%.
Multiple epithermal and porphyry targets with significant drill intercepts as well as several undrilled targets.
James Rogers, Turmalina CEO comments, “The combination of advanced alteration and significant mineralization on surface and in previous drilling at the Colquemayo project represents an excellent opportunity for Turmalina to create shareholder value by advancing the exploration of this exciting new asset.”
Miguel Inchaustegui, Turmalina Director and previous Minister of Energy and Mines, Peru comments on the progress to date, “Continuing with our policy of proactive relations with authorities and community leaders, we have held informative meetings with said stakeholders to inform them we wish to maintain a positive relationship with them to build trust and permanent communication as we advance the project.”
Amat to Cairani long section showing highlight drill intercept results. High-sulphidation epithermal copper-silver mineralization is related to hydrothermal and phreatomagmatic breccias and zones of advanced argilic alteration and vuggy silica.
Figure 1 - Amat to Cairani long section showing highlight drill intercept results. High-sulphidation epithermal copper-silver mineralization is related to hydrothermal and phreatomagmatic breccias and zones of advanced argilic alteration and vuggy silica.
Activities are underway in Peru, including initial permitting steps, meetings with the local communities and local authorities as well as the commencement of a data and core review. During this period a detailed core review will be undertaken to build geological models for the breccia bodies with significant historic drill intercepts, including:
Validation of the logged geology using the geochemical database.
Determining the geometry of the breccia bodies based on surface mapping and drill core information.
Review, modelling and interpretation of the geophysical data.
Mapping of alteration zones to define potential source areas – including porphyry intrusions with Cu-Mo mineralization.
Francisco Azevedo, Director and VP Business Development adds, “The Company’s exploration team has previous experience in successfully exploring for similar deposits. In the last few weeks significant advances have been completed in the validation and assessment of the available data base. Next month we will start the systematic core review and field work to validate drill targets to be tested.”
Exploration will also focus on areas in the property outside the three centres of hydrothermal alteration identified and drill tested to date. In some of these areas argillic and advanced argillic alteration have been recognized locally, with limited exposure because of overlying lower temperature alteration assemblage (chlorite, epidote and carbonate). These areas may represent less eroded parts of epithermal systems, with potential for definition of new hydrothermal centres for initial drilling. Additional geophysics to cover the remaining part of the property will also be considered.
Colquemayo alteration mapping: Three lithocaps (Amata-Cairani, Coripuquio and Yanarico) were explored between 2009 and 2014 by Rio Tinto and Buenaventura.
Figure 2 - Colquemayo alteration mapping: Three lithocaps (Amata-Cairani, Coripuquio and Yanarico) were explored between 2009 and 2014 by Rio Tinto and Buenaventura.
View of the Colquemayo project, showing topography, drill roads and alteration.
Figure 3 View of the Colquemayo project, showing topography, drill roads and alteration.
About the Colquemayo Project
The road accessible Colquemayo Cu-Ag-(Au) Project lies between 4,300 and 4,800 masl and is located in General Sanchez Cerro province in Moquegua department, near the border with the Arequipa department, in southern Peru. The project is situated in the late Miocene to Pliocene epithermal belt to the east of the productive Cu-Mo Paleocene to Eocene porphyry belt hosting the copper mines of Cerro Verde, Cuajone, Quellaveco and Toquepala, and to the west of the Au-Ag Late Miocene to Pliocene epithermal belt with important projects and mines such as San Gabriel, currently under construction, and the Aruntani mining district (>2 Moz Au produced).
Previous work by Rio Tinto and Buenaventura between 2003 and 2014 includes ~27,000 m of diamond drilling across 80 holes, detailed geological mapping and intensive surface geochemistry with ~9,800 rock chip and ~1,500 channel samples. Detailed topography (1 m resolution) and geophysical surveys (magnetometry, chargeability and resistivity) have been completed at two of the hydrothermal centres identified to date.
Alteration mapping shows the zonation typical of a high-sulphidation epithermal system including argillic alteration with kaolinite and dickite, advanced argillic alteration with quartz and alunite, and some deeper pyrophyllite zones, along with zones of massive and vuggy silica. Several phreato-magmatic and hydrothermal breccias with significant gold values have been identified. Several kilometer scale hydrothermal targets have been identified to date namely the Amata, Cairani, Coripuquio, and Yanarico which represent exceptional exploration targets for Turmalina.
Highlights of previous drilling include:
Amata:
70 m @glenp-36, from 192 m), including:
7.8 m @ 0.79% Cu, 0.14 g/t Au & 1,866 g/t Ag (from 192 m).
237.3 m @glenp-36, from 306.2 m) including:
161.2 m @ 3.4% Cu, 0.09 g/t Au & 14 g/t Ag (from 306.2 m), including:
31.3 m @ 14.8% Cu, 0.2 g/t Au & 47 g/t Ag (from 392.5 m.).
67.8 m @Tommy_Brown-37, from 295.2 m), including:
31.5 m @ 1.2% Cu, 0.10 Au and 12 g/t Ag (from 310.4 m).
55.5 m @Tommy_Brown-44, from 264.5 m).
68.9 m @Tommy_Brown-40, from 367.1 m).
104.2 m @glenp-31, from 0 m), including:
28.3 m @ 193 g/t Ag (from 66.5 m) and
3 m @ 161 g/t Ag (from 131.6 m).
111.0 m @glenp-32, from 1.6 m) and 183 m @ 0.21% Cu, 0.12 g/t Au & 10 g/t Ag (from 217.1 m), including:
22.5 m @ 1.21% Cu, 0.48 g/t Au & 29 g/t Ag (from 330.9 m).
58.1 m @No Moderator, from 208 m).
Cairani:
99 m @BravesFan-03, from 65.5 m), including:
24.5 m @ 0.46% Cu & 0.18 g/t Au (from 133.4 m) and 24.3 m @ 1.22% Cu, 0.05 g/t Au & 15 g/t Ag (from 216.3 m).
Coripuquio:
98.9 m @glenp-27, from 75.3 m).
54.7 m @glenp-12, from 117 m).
133.3 m @glenp-06, from 21.3 m).
47.5 m @glenp-16, from 226.2 m).
103 m @glenp-21, from 153 m) and 37 m @ 1.34% Cu & 0.17 g/t Au (from 290.1 m), including:
12.6 m @ 3.7% Cu, 0.31 g/t Au & 8 g/t Ag (from 314.5 m).
On Behalf of the Company,
James Rogers, Chief Executive Officer and Director.
Website: turmalinametals.com
Address: #1507 - 1030 West Georgia St, Vancouver, BC V6E 3M5.
For Investor Relations enquiries, please contact +1 833 923 3334 (toll free) or via info@turmalinametals.com.
Statements
About Turmalina Metals and our projects: Turmalina Metals is a TSXV-listed exploration company focused on developing our portfolio of high-grade gold-copper-silver projects in South America. Turmalina Metals is led by a team responsible for multiple gold-copper-silver discoveries. Our projects are characterised by open high-grade mineralization on established mining licenses that present compelling drill targets. The principal project held by Turmalina is the San Francisco project in San Juan, Argentina. For further information on the San Francisco Project, refer to the technical report entitled “NI43-101 Technical Report San Francisco Copper Gold Project, San Juan Province, Argentina” dated November 17, 2019 under the Corporation’s profile at www.sedarplus.ca.
Forward Looking Statement: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. 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 may differ materially from those in the forward-looking statements. Forward looking statements in this news release include statements related to TSXV approval of the Company’s acquisition of the Option and the Option Agreement. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Qualified Person: All scientific and technical information in this news release has been approved by Dr. Rohan Wolfe, Technical Advisor, MAIG, who serves as the Qualified Person (QP) under the definition of National Instrument 43-101. Dr Wolfe has conducted a review of historic data at the project, reviewed the Company’s due diligence study of the Project and has conducted an independent QA/QC review of historic drilling assays, and consents to the inclusion of this information in the form and context in which it appears.
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 or has in any way approved or disapproved of the contents of this news release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/76cf356c-a9e9-43b1-9aa9-f2be2529cd6c
https://www.globenewswire.com/NewsRoom/AttachmentNg/e9d113cd-157f-4752-b149-0f0bf7ae3237
https://www.globenewswire.com/NewsRoom/AttachmentNg/69165eca-2177-4650-b836-4f490ff9d613
Solis Minerals Announces Extensive Drone Mag Survey Planned at Guaneros Project, Peru
HIGHLIGHTS
Solis has contracted a drone airborne magnetometry survey at the recently staked Guaneros Project area
Program will start in early August with results expected during the month
Identified anomalies are anticipated to be followed up where practical with ground based Induced Polarisation surveys to assist with the final target and drill design programmes
Geochemical sampling and mapping will continue to gain a better understanding of any alteration and mineralisation styles present and assist with targeting of the first drill programmes
Guaneros is the fourth project area being progressed to drill status for copper porphyry targeting in Southern Peru and is situated on the prospective Coastal Belt between the Ilo Este and Chancho Al Palo drill targets
https://www.newsfilecorp.com/release/217385
July 23, 2024 9:00 AM EDT | Source: Solis Minerals Ltd.
West Leederville, Western Australia--(Newsfile Corp. - July 23, 2024) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTCQB: SLMFF) ("Solis" or the "Company") is pleased to announce an update on exploration activities at the Guane
Palamina Bulk Sample Returns 3.6 gpt Gold at the Usicayos Gold Project, Peru
https://www.newsfilecorp.com/release/217269
July 22, 2024 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - July 22, 2024) - Palamina Corp.'s (TSXV: PA) (OTCQB: PLMNF)
Aftermath Silver's Berenguela Third Composite Test Sample Achieves 99.9% Pure Battery Grade Manganese Sulphate Monohydrate
https://www.newsfilecorp.com/release/217380
July 23, 2024 8:30 AM EDT | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF
Buenaventura Announces Second Quarter 2024 Results for Production and Volume Sold per Metal
https://ca.finance.yahoo.com/news/buenaventura-announces-second-quarter-2024-212200143.html
Business Wire
Tue, July 16, 2024 at 2:22 p.m. PDT·8 min read
BVN
-1.10%
LIMA, Peru, July 16, 2024--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM),
DLP Resources Intersects 431m of 0.41% CuEq* on the Aurora Project in Southern Peru
https://www.newsfilecorp.com/release/216614
July 16, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - July 16, 2024) - DLP Resources Inc. (TSXV:DLP) (OTCQB:DLPRF
Western Metallica Awarded Drilling Permit for Caña Brava Copper Porphyry Project in Peru
https://ca.finance.yahoo.com/news/western-metallica-awarded-drilling-permit-110000049.html
Western Metallica Resources Corp.
Mon, July 15, 2024 at 4:00 a.m. PDT·6 min read
WMS.V
0.00%
TORONTO, July 15, 2024 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) (“Western Metallica” or the “Company”) is pleased to provide an update on its current exploration activities aimed at advancing the Luz Maria and Caña Brava 1 drill targets, two key copper-molybdenum porphyry prospects located within its 100% owned Caña Brava Project, situated in the La Libertad Department of Northern Peru.
Western Metallica announces that it has received the permit to drill from 19 platforms, along with approval of its Environmental Evaluation (“FTA”) for Luz Maria from the Peruvian Ministry of Energy and Mines (“MINEM”), which enables the Company to commence its drilling program at Luz Maria. The Company has filed notice for permit activation, has obtained the local water permit as well as the plan for archaeological monitoring, as required to commence drilling. Luz Maria is a well-preserved porphyry system and priority drill target at Caña Brava given its prominent potassic and phyllic alteration footprint with multiple mineralized intrusion events. The Company is finalizing the plans for its inaugural drill program in Peru intended with an initial 2,000-metre diamond drill program.
Luz Maria Highlights
Located on the West coastal line of Peru, on the South-East sector of the Caña Brava Project, close to infrastructure, highway, and power.
Surface agreement in place until 2028.
Resides in a large 3.0-kilometre by 1.5-kilometre Cu-Mo porphyry system.
Coinciding mag, >30mV/V chargeability, and Cu- and Mo-regolith geochemistry anomalies.
Permit to drill from 19 platforms is now fully granted.
The acquisition of the IP pole-dipole data, allowed to define a main >30 mV/V chargeability anomaly, coinciding with one of the magnetic anomalies previously interpreted as a possible intrusive as well as with the Cu and Mo soil anomalies obtained through the execution of recognition in-situ pXRF analyses (refer to Figures 1, 2 and 3).
Regolith geochemistry, chargeability, and magnetic anomalies are still open towards the West providing further prospective targets for the planned first phase of scout drilling expected to commence near term.
The exploration work at Luz Maria successfully defined, so far, a 3.0-kilometre by 1.5-kilometre phyllic and potassic alteration footprint, comparable in size to other major Peruvian porphyry deposits. The diamond-sawn channel sampling campaign executed to date displayed consistent anomalous grades up to 0.06% Cu and 0.03% Mo from multi-phase intrusions, confirming at least three intrusion phases that host both Cu and Mo-sulphide mineralization and locally associated to a weak biotite-replacement (refer to press release dated January 22, 2024).
The Company is also advancing drilling target generation at the Project’s other porphyry prospect, Caña Brava 1, a 1-kilometre by 1-kilometre sized porphyry target characterized by a distinctive leached zone with goethite and hematite box works. Both environmental and social base lines, required to support the FTA process, are also being completed for this sector.
The diamond-sawn channel sampling campaign previously announced had confirmed grades up to 0.3% Cu and average 500 ppm Cu from intrusive rocks. The Company is now conducting an in-situ regolith geochemistry with portable XRF equipment aimed at following up the mag anomalies interpreted to be the expression of intrusive plugs related to mineralization. The results obtained so far are very encouraging with copper and molybdenum anomalies centered on the mag anomalies and still open in all direction (refer to Figure 4).
Figure 1
Figure 1 – Luz Maria Prospect – Regolith Mo (left) and Cu (right) portable XRF geochemistry anomalies, and position of the drilling platforms covered by the recently granted permit.
Figure 2
Figure 2 – Luz Maria Prospect – Diagram showing the regolith Cu anomalies with respect to the mag anomalies (left) and the chargeability anomalies (right). Collar position and traces of the planned first phase diamond drill holes are also shown.
Figure 3
Figure 3 – Luz Maria Prospect – Diagram showing the regolith Mo anomalies with respect to the mag anomalies (felt) and the chargeability anomalies (right). Collar position and traces of the planned first phase diamond drill holes are also shown.
Figure 4
Figure 4 – Caña Brava 1 Prospect – Regolith Mo (left) and Cu (right) portable XRF geochemistry anomalies with respect to the interpreted high mag susceptibility body (dotted red line) and mapped extent of the leached cap (dotted yellow line), The position of the proposed drilling platforms is also indicated.
Gregory Duras, Western Metallica’s Chief Executive Officer and Director, commented, “Receiving the drilling permit at Luz Maria is a major milestone which puts the Company in a position to commence its first copper-focused drill program at its Caña Brava Project, located in such a favorable sector of La Libertad, Peru. The Company’s drill permitting efforts advanced quickly in conjunction with the exploration teams ongoing non-invasive field work, preparing us to commence drilling, with a multitude of systematically assessed drill targets across a prominent alteration footprint of well-preserved porphyry systems. Western Metallica is building a compelling portfolio of copper exploration properties in highly prospective and underexplored porphyry belts in Peru, with excellent access and nearby infrastructure, which we firmly believe will generate significant accretive value to our shareholders once a Phase 1 program is advanced.”
Background
Western Metallica holds the option to acquire 100% of the mineral claims, rights, and interests in two Cu-Mo projects located in Northern Peru: Caña Brava and Turmalina (refer to press release dated August 10th, 2023). Both projects lie in a prolific Cu-Mo metallogenic belt, extending from Northern Peru into Ecuador, which has seen notable exploration success and hosts world class discoveries and deposits such as La Granja (First Quantum), Cañariaco (Alta Copper), and Rio Blanco (Zijin Mining Group). The Company´s projects are well located in proximity to industrial ports and major paved roads, and each project is comprised of large mineral concessions conducive to future project scalability.
The Caña Brava Project is a highly prospective 5,700-hectare (2,600 hectares granted to date) copper-molybdenum property located in the La Libertad Department, only 35 kilometres inland from the Peruvian coast and at an elevation of 1,500 metres in the Western Cordillera of the Peruvian Andes. The Caña Brava Project is neighboring Hudbay’s Llaguen Project which lies on the Western margin of the Miocene epithermal-porphyry copper-gold belt of Northern Peru, with the potential for Caña Brava to similarly host shallow high-grade mineralization across a considerable alteration footprint.
Quality Assurance and Quality Control
Sample preparation and analyses will be conducted according to standard industry procedures. Rock samples are crushed, split, and pulverized prior to analysis of Gold by fire assay and Atomic Absorption and multi-elements by ICP-AES after four acid digestion. Analytical performance is monitored by means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples. Samples are prepared and analysed at SGS lab in Lima, Peru.
Qualified Persons
The technical and scientific information in this press release has been reviewed and approved by Mr. Giovanni Funaioli, Eur.Geol., Vice President Exploration of Western Metallica, who is a “Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Giovanni Funaioli is an employee of the Company and is not considered independent under NI 43-101. Some of the technical information relating to the Caña Brava and Turmalina Projects is historical in nature and has not been independently verified by the Company.
About Western Metallica Resources Corp.
Western Metallica is an Ontario registered company with its head office in Toronto, Ontario, trading on the TSX Venture Exchange under symbol WMS. Western Metallica is in the business of mineral resource exploration and development and holds the options to acquire a 100% interest in two copper projects in Peru: Caña Brava, in La Libertad Province, and Turmalina, in Piura Province. Western Metallica is also advancing its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain, and three other Spanish gold projects in the “Navelgas Gold Belt” in Asturias, Spain (Penedela, Valledor and Sierra Alta).
Further information of the Company can be found at: www.westernmetallica.com
For more information please contact:
Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
Email: gduras@westernmetallica.com
Investor Relations
Email: info@westernmetallica.com
Cautionary Note Regarding Forward-Looking Statements
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains statements that constitute “forward-statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned drill program and the development of the Company’s projects and other mining projects and prospects thereof, the impact of the management additions on the Company; and the potential and economic viability of the Caña Brava and Turmalina Projects. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e2b19ec4-9f1a-4cc7-adb4-6c26c030fcc4
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5aa55c0-a628-49bd-a717-0cee65cda294
https://www.globenewswire.com/NewsRoom/AttachmentNg/ac6a896b-7bce-4656-b714-4696f3fc5628
https://www.globenewswire.com/NewsRoom/AttachmentNg/78635629-93ce-41f9-baf0-16bc39dc677b
Tier One Silver Resumes Exploration Activities on Highly Prospective Cambaya Corridor at Curibaya
https://www.accesswire.com/888621/tier-one-silver-resumes-exploration-activities-on-highly-prospective-cambaya-corridor-at-curibaya
Monday, 15 July 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is pleased to announce that it has resumed exploration activities at its flagship Curibaya project, located in Southern Peru. The exploration program has been planned to cover three main project zones within the Company's high-priority silver-gold corridors that have been underexplored to date: Cambaya I, Cambaya II and the recently identified polymictic breccia in Zone 1 (Figure 1). The program will consist of two to three months of field work, including sampling and geological mapping, with the aim of expanding and defining the potential of the precious metal epithermal corridors and the porphyry target based on existing geochemical and CSAMT geophysical anomalies, to delineate drill targets for the drill program anticipated for later this year.
Peter Dembicki, CEO and Director of Tier One commented, "We are excited to be resuming exploration at our highly underexplored Curibaya property. We have only explored a small fraction of the project and identified six distinct silver-gold mineralized kilometric corridors to date. Our focus for this program, and upcoming drilling, is the Cambaya corridors, which are higher in elevation where there is potential for high grade silver mineralization and scale. We are still very early in our exploration efforts of pursuing a world class discovery in Peru. Evidence gathered to date from surface mineralization and drill holes has strengthened our thesis that both a high-grade precious metals system as well as a porphyry copper system could exist on the large prospective property."
Cambaya I and Cambaya II Corridors:
The Cambaya structural corridors are located in the northeast area of the project (Figure 1), which is the highest target in topographic elevation (2400m above sea level) and within the epithermal system with highly elevated arsenic values, indicating that the potential precious metals horizon is being preserved at shallow depth (see news release date September 26, 2022).
Highlights from previous channel sampling (refer to press releases dated October 14, 2021 and September 26, 2022) in these corridors include:
• 4.5 metres (m) of 408.2 g/t silver (Ag) and 1.48 g/t gold (Au), including 1 m of 1,768.0 g/t Ag and 6.33 g/t Au, in 22CRT-080;
• 8 m of 349.1 g/t Ag and 0.46 g/t Au, including 1 m of 2,680.0 g/t Ag and 3.14 g/t Au, in 21CRT-56;
• 2.5 m of 136.4 g/t Ag and 0.82 g/t Au, including 0.5 m of 568.0 g/t Ag and 3.37 g/t Au, in 22CRT-101;
• 20 m of 242.7 g/t Ag and 0.71 g/t Au in 21CRT-55;
• 2 m of 1,074 g/t Ag and 0.53 g/t Au in 21CRT-44;
• 11 m of 232.1 g/t Ag and 1.6 g/t Au, including 1 m of 1660 g/t Ag and 14 g/t Au, in 21CRT-34;
• 9 m of 409 g/t Ag and 0.4 g/t Au including 3 m of 949.7 g/t Ag and 0.8 g/t Au in 21CRT-36;
• 2 m of 1736.5 g/t Ag and 1.6 g/t Au including 1 m of 3170 g/t Ag and 2 g/t Au in 21CRT-52.
The intention for this fieldwork campaign is to extend both corridors and gain a better understanding of the geometry of the ore shoots within each corridor.
Figure 1: Illustrates a geological map of the Curibaya area and the location of the two main corridors, Cambaya I and Cambaya II, and the polymictic breccia.
Zone 1:
The Company will also be following up on the strong stream sediment copper signatures in Zone 1, which is located on the west side of the primary Cambaya I and Cambaya II corridors, where minimum exploration has occurred to date (Figure 2).
Besides having high bulk leach extractable gold ("BLEG") anomalies in copper and gold, this area returned high grade silver samples up to 1,360 g/t Ag, 42.20 Au and 6.12% Cu related to silicified fragments in a possible polymictic shatter breccia.
Field work in this campaign will be focused on extending the north-south extension of this polymictic breccia and to help better understand its geometry.
Figure 2: Illustrates a general location map of Zone 1 on the Curibaya project and copper BLEG anomalies. See location of the polymictic breccia containing high-grade fragments with values up to 1,360 g/t Ag, 42.20 Au and 6.12% Cu.
The current exploration work will help to further delineate drill targets within the area that has greater widths and higher grades (Figure 3), for a follow up drill program planned, subject to financing, to test the targets identified within the Cambaya corridors.
Figure 3: Illustrates the preliminary drill holes planned for the Company's next drill campaign. Current field work will further delineate final drill targets.
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and assumes responsibility for the technical contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
Peter Dembicki President, CEO and Director
For further information on Tier One Silver Inc., please contact the Company at (778) 729-0700 or info@tieronesilver.com.
Capital Markets Contact:
Julia Becker
Julia.becker@tieronesilver.com
About Tier One Silver
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and copper deposits in Peru. The Company is focused on its flagship exploration project, Curibaya. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. For more information, visit www.tieronesilver.com.
Forward Looking Information and General Cautionary Language
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events in connection with the Company's plans to resume exploration at its Curibaya project. Forward-looking statements are not historical facts and therefore may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. These statements speak only as of the date of this news release. In particular, and without limitation, this news release contains forward-looking statements in regard to future exploration plans, including drilling. Readers should refer to the risks discussed in the Company's Annual Information Form and Management's Discussion & Analysis for the year ended December 31, 2023, and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca.
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.
SOURCE: Tier One Silver, Inc.
Palamina Completes Drone Magnetic and Structural Studies in Preparation for Drilling at the Usicayos Gold Project
https://www.newsfilecorp.com/release/216484
July 15, 2024 8:30 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - July 15, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has completed a drone-based magnetic survey over the entire 4.5 km long mineralized gold trend at its 100% owned Usicayos Gold Project in the department of Puno in south eastern Peru. The survey was carried out by Lima-based geophysical contractor Deep Sounding E.I.R.L and included generating a detailed Digital Terrain Model ("DTM") and acquiring an orthophoto to generate a new high-resolution topographic map. The company also completed a new structural interpretation of the Sol de Oro ("SDO") zone which confirms the main controls on surface mineralization
"The recently completed drone magnetic survey confirms that our priority drill target areas in the Sol de Oro zone coincide with magnetic anomalies, likely linked to pyrrhotite closely associated with gold mineralization. Structural mapping has confirmed that high grade gold values are spatially controlled by a continuous low angle shear zone, near the intersection with vertical conjugate faults. The uppermost manto seen in SDO East coincides with this flat shear zone. Our imminent drill program at the SDO East, SDO North and SDO South targets will test where the two structural trends intersect," commented Andrew Thomson, President of Palamina.
Deep Sounding completed 164 line kilometers of magnetic survey using a MagDrone R3 magnetometer. A detailed DTM was completed prior to the magnetic survey to ensure a constant 35 metre elevation above surface for the drone. Figure 1 shows the Total Field magnetic survey, and the location of the three Sol de Oro zones to be drilled by Palamina during 2024.
Figure 1: Sol de Oro zone Total Field magnetic anomaly map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/216484_508b665bd487c9b2_002full.jpg
The Company also engaged Cumbrex S.A. to complete a detailed structural review of the Sol de Oro zones. Their report has confirmed that the uppermost manto at Sol de Oro East coincides with a sub-horizontal shear zone (the "SDO detachment Fault"), marking the contact between an upper, shale-dominated sedimentary sequence, and a lower, sandstone dominated one. Gold mineralization occurs in both blocks. Gold in the upper block is hosted along sub-vertical conjugate shear zones and appears to increase where they intersect subhorizontal structures, while the lower block hosts gold along flat, stratiform mantos, four of which outcrop in the Sol de Oro East zone. Both the drone magnetics and the structural study have been used to refine the drill targets. Palamina has completed building its camp in the Sol de Oro zone with drilling expected to be underway by months end.
Figure 2: Long section looking north of the Sol de Oro Zone showing the projection of the SDO detachment fault coinciding with the uppermost Manto at SDO East
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/216484_palaminafig2.jpg
Figure 3: Sol de Oro zone initial drill target areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/216484_508b665bd487c9b2_006full.jpg
Helipad in SDO-E Zone used to mobilize drill
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/216484_508b665bd487c9b2_008full.jpg
SDO-E drill platform
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/216484_508b665bd487c9b2_007full.jpg
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 a gold exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in south-eastern Peru. Palamina is set to commence a drill program at its Usicayos gold project. Palamina holds a 15.4% equity interest in Winshear Gold Corp. (TSXV: WINS). Winshear are scheduled to conduct an inaugural drill program at their Gaban Gold Project in 2024. Palamina also has an "acquire and hold" strategy with copper silver assets in south and north eastern. Palamina has 71,284,836 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 use of proceeds of the Offering and the Company's future business 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.sedar.ca.
SOURCE: Palamina Corp.
Tier One Silver Resumes Exploration Activities on Highly Prospective Cambaya Corridor at Curibaya
https://www.accesswire.com/888621/tier-one-silver-resumes-exploration-activities-on-highly-prospective-cambaya-corridor-at-curibaya
Monday, 15 July 2024 07:00 AM
VANCOUVER, BC / ACCESSWIRE / July 15, 2024 / Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is pleased to announce that it has resumed exploration activities at its flagship Curibaya project, located in Southern Peru. The exploration program has been planned to cover three main project zones within the Company's high-priority silver-gold corridors that have been underexplored to date: Cambaya I, Cambaya II and the recently identified polymictic breccia in Zone 1 (Figure 1). The program will consist of two to three months of field work, including sampling and geological mapping, with the aim of expanding and defining the potential of the precious metal epithermal corridors and the porphyry target based on existing geochemical and CSAMT geophysical anomalies, to delineate drill targets for the drill program anticipated for later this year.
Peter Dembicki, CEO and Director of Tier One commented, "We are excited to be resuming exploration at our highly underexplored Curibaya property. We have only explored a small fraction of the project and identified six distinct silver-gold mineralized kilometric corridors to date. Our focus for this program, and upcoming drilling, is the Cambaya corridors, which are higher in elevation where there is potential for high grade silver mineralization and scale. We are still very early in our exploration efforts of pursuing a world class discovery in Peru. Evidence gathered to date from surface mineralization and drill holes has strengthened our thesis that both a high-grade precious metals system as well as a porphyry copper system could exist on the large prospective property."
Cambaya I and Cambaya II Corridors:
The Cambaya structural corridors are located in the northeast area of the project (Figure 1), which is the highest target in topographic elevation (2400m above sea level) and within the epithermal system with highly elevated arsenic values, indicating that the potential precious metals horizon is being preserved at shallow depth (see news release date September 26, 2022).
Highlights from previous channel sampling (refer to press releases dated October 14, 2021 and September 26, 2022) in these corridors include:
• 4.5 metres (m) of 408.2 g/t silver (Ag) and 1.48 g/t gold (Au), including 1 m of 1,768.0 g/t Ag and 6.33 g/t Au, in 22CRT-080;
• 8 m of 349.1 g/t Ag and 0.46 g/t Au, including 1 m of 2,680.0 g/t Ag and 3.14 g/t Au, in 21CRT-56;
• 2.5 m of 136.4 g/t Ag and 0.82 g/t Au, including 0.5 m of 568.0 g/t Ag and 3.37 g/t Au, in 22CRT-101;
• 20 m of 242.7 g/t Ag and 0.71 g/t Au in 21CRT-55;
• 2 m of 1,074 g/t Ag and 0.53 g/t Au in 21CRT-44;
• 11 m of 232.1 g/t Ag and 1.6 g/t Au, including 1 m of 1660 g/t Ag and 14 g/t Au, in 21CRT-34;
• 9 m of 409 g/t Ag and 0.4 g/t Au including 3 m of 949.7 g/t Ag and 0.8 g/t Au in 21CRT-36;
• 2 m of 1736.5 g/t Ag and 1.6 g/t Au including 1 m of 3170 g/t Ag and 2 g/t Au in 21CRT-52.
The intention for this fieldwork campaign is to extend both corridors and gain a better understanding of the geometry of the ore shoots within each corridor.
Figure 1: Illustrates a geological map of the Curibaya area and the location of the two main corridors, Cambaya I and Cambaya II, and the polymictic breccia.
Zone 1:
The Company will also be following up on the strong stream sediment copper signatures in Zone 1, which is located on the west side of the primary Cambaya I and Cambaya II corridors, where minimum exploration has occurred to date (Figure 2).
Besides having high bulk leach extractable gold ("BLEG") anomalies in copper and gold, this area returned high grade silver samples up to 1,360 g/t Ag, 42.20 Au and 6.12% Cu related to silicified fragments in a possible polymictic shatter breccia.
Field work in this campaign will be focused on extending the north-south extension of this polymictic breccia and to help better understand its geometry.
Figure 2: Illustrates a general location map of Zone 1 on the Curibaya project and copper BLEG anomalies. See location of the polymictic breccia containing high-grade fragments with values up to 1,360 g/t Ag, 42.20 Au and 6.12% Cu.
The current exploration work will help to further delineate drill targets within the area that has greater widths and higher grades (Figure 3), for a follow up drill program planned, subject to financing, to test the targets identified within the Cambaya corridors.
Figure 3: Illustrates the preliminary drill holes planned for the Company's next drill campaign. Current field work will further delineate final drill targets.
Christian Rios (SVP of Exploration), P.Geo, is the Qualified Person who has reviewed and assumes responsibility for the technical contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
Peter Dembicki President, CEO and Director
For further information on Tier One Silver Inc., please contact the Company at (778) 729-0700 or info@tieronesilver.com.
Capital Markets Contact:
Julia Becker
Julia.becker@tieronesilver.com
About Tier One Silver
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and copper deposits in Peru. The Company is focused on its flagship exploration project, Curibaya. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. For more information, visit www.tieronesilver.com.
Forward Looking Information and General Cautionary Language
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events in connection with the Company's plans to resume exploration at its Curibaya project. Forward-looking statements are not historical facts and therefore may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. These statements speak only as of the date of this news release. In particular, and without limitation, this news release contains forward-looking statements in regard to future exploration plans, including drilling. Readers should refer to the risks discussed in the Company's Annual Information Form and Management's Discussion & Analysis for the year ended December 31, 2023, and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca.
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.
SOURCE: Tier One Silver, Inc.
Solis Minerals: High Grade Copper Samples Identified at Cinto
https://www.newsfilecorp.com/release/215766
July 09, 2024 6:00 AM EDT | Source: Solis Minerals Ltd.
HIGHLIGHTS
Solis has signed an access agreement with local Carumbraya community at the Cinto Project and initiated systematic mapping and sampling of outcropping copper mineralisation
Surface grab samples from Cinto report assays up to 7.14% Cu with mineralisation mapped over a 200m x 100m area in historical workings associated with significant alteration and structural deformation
Significant structures evident in 100m wide exposed area with abundant copper oxide mineralisation in historical artisanal workings
Positioned on boundary of regional scale transcurrent Incapuquio fault system which forms structural corridor related to massive Toquepala porphyry system 10km to the north-west
Geochemical signature and base metal concentration ratios assayed in very similar ranges to metals content in Toquepala indicating porphyry-style mineralisation1
Drone magnetometer and follow up geological mapping is underway to guide drill permitting
West Leederville, Western Australia--(Newsfile Corp. - July 9, 2024) - Solis Minerals Limited (ASX: SLM)
Aftermath Silver's Berenguela Second Composite Test Sample Achieves 99.9% Pure Battery Grade Manganese Sulphate Monohydrate
https://www.newsfilecorp.com/release/216091
July 11, 2024 8:30 AM EDT | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF)
Silver X Continues to Increase Production During Second Quarter of 2024
https://www.accesswire.com/886971/silver-x-continues-to-increase-production-during-second-quarter-of-2024
Wednesday, 10 July 2024 07:30 AM
VANCOUVER, BC / ACCESSWIRE / July 10, 2024 / SILVER X MINING CORP. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX)
SILVER MOUNTAIN SECURES FINAL GOVERNMENT APPROVAL FOR RELIQUIAS MINE CLOSURE PLAN
https://www.newswire.ca/news-releases/silver-mountain-secures-final-government-approval-for-reliquias-mine-closure-plan-899493529.html
Silver Mountain Resources Inc. Jul 09, 2024, 07:00 ET
TORONTO, July 9, 2024 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or "the Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that Peru´s Ministry of Energy and Mines has approved the Reliquias and Caudalosa Mine Closure Plans, a key milestone permit needed to commence production in this historic mining district located in central Peru.
Alvaro Espinoza, CEO of Silver Mountain, remarked, "We welcome the approval of the Reliquias and Caudalosa Mine Closure Plans. Our legal, technical, and permitting team has done exceptional work preparing and presenting a solid mine closure plan which fully complies with Peru´s rigorous environmental standards. The Mine Closure Plans are some of the final permits required to restart commercial production at the Reliquias Mine and, coupled with the recently approved extension of the environmental certification, brings us closer to our goal of becoming Peru's next silver producer. The Company continues to advance its work at the Reliquias Mine at a time of high metal prices and improving market sentiment towards silver producers."
The approval of the Mine Closure Plans includes authorizing the disposal of waste material from the underground Reliquias Mine into the historic Matacaballo open pit, simultaneously reducing the project´s footprint and remediating historic environmental liabilities.
On Behalf of the Board of Directors of Silver Mountain Resources Inc.
Alvaro Espinoza, Chief Executive Officer
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to restart production at the Reliquias underground mine and currently exploring its 100% owned Castrovirreyna Project, consisting of over 60,000 hectares of highly prospective mineral claims and concessions located in the Huancavelica Region, central Peru. For additional information regarding the Castrovirreyna Project, please refer to the Company's technical report, titled NI 43-101 Technical Report: Preliminary Economic Assessment, Reliquias Mine, dated June 26, 2024, effective date May 15, 2024, available at https://sedarplus.ca.
For further information about our drill program, including cross sections of the main veins with drill hole locations, please refer to our corporate presentation, available on our website at www.agmr.ca.
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.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Information Form dated April 26, 2026, and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. Silver Mountain 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 Silver Mountain 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 news release are expressly qualified in their entirety by this cautionary statement.
SOURCE Silver Mountain Resources Inc.
For Further Information Contact: Alvaro Espinoza, Chief Executive Officer, Silver Mountain Resources Inc, 82 Richmond Street East, Toronto, ON M5C 1P1, +51 954 475 319, info@agmr.ca, www.agmr.ca
Peruvian Metals Production Update for the First Half of 2024 at Aguila Norte Processing Plant and the Closing of the Private Placement
https://www.newsfilecorp.com/release/215860
July 08, 2024 5:30 PM EDT | Source: Peruvian Metals Corp.
Edmonton, Alberta--(Newsfile Corp. - July 8, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide an update regarding the mineral processing at its 80-per-cent-owned fully permitted Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the first six months of 2024 the Plant processed 14,869 tonnes of third-party mineral, compared with 13,786 tonnes in 2023 and 14,886 tonnes in 2022. The 2024 year-to-date production represents an increase of 7.9 % compared to the same period for 2023, and 0.1 % decrease compared to the same period for 2022. The Plant was at capacity in April and May. The Company anticipates a further increase in production during the remainder of 2024 and expects to report a record year of production.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: "We are pleased that we are on track for a record processing year in 2024 at Aguila Norte. Our effort to add quality prospective mineral concessions by applications and by outright purchase continues and is funded by cash flow from the Plant. The use of proceeds from our financing will be used to advance the recently acquired Mercedes property and the prospective Palta Dorada Au-Ag-Cu property. The Company is planning to enter into the Peruvian gold space and is reviewing new sites for the ideal location to build a Carbon in Pulp gold processing plant. The Company is in a unique position compared to many in the junior mining space as we continue to strengthen the Company's financial position and advance our mineral assets with minimal share dilution."
The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 tonnes 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.
Closing of Private Placement
Peruvian Metals Corp. has closed its previously announced private placement by issuing 3,929,286 Units at $0.07 cents per Unit for total proceeds of $275,050. Each Unit consists of one common share of the Company and one-half non-transferable share purchase warrant ("Warrant") of the Company.
Each Warrant will be exercisable to acquire one additional common share for two years from the closing date of the offering at a price of $0.10 cents. In the event the volume-weighted average closing price of the Company's common shares on the TSX Venture Exchange (the "Exchange") exceeds $0.15 for five consecutive trading days, the Company retains the option to accelerate the expiry date of the Warrants to thirty days after a public announcement of its election to accelerate the expiry date of the Warrants.
The Company has paid finders' fees of $3,000 in cash paid in accordance with the policies of the Exchange.
Certain insiders acquired an aggregate of 279,286 Units in the Financing, and as such, the Financing is considered a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the insiders' participation in the Financing, as such participation in the Financing does not exceed 25% of the Company's market capitalization.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange : Symbol "PER", and the OTCQB Venture Market: Symbol "DUVNF".
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com 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.sedarplus.ca. 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.
Hannan Doubles Footprint of the Copper-Gold Porphyry at Previsto Central, Peru
https://www.accesswire.com/884147/hannan-doubles-footprint-of-the-copper-gold-porphyry-at-previsto-central-peru
Tuesday, 02 July 2024 06:30 AM
VANCOUVER, BC / ACCESSWIRE / July 2, 2024 / Hannan Metals Limited's ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF) is pleased to announce that a significant copper-gold porphyry discovery continues to expand at the Previsto Central prospect within the 100%-owned Valiente Project in Peru (Figures 1 and 2).
Highlights:
Discovery: Outcropping porphyry-style copper and gold mineralization has been discovered over a significant 10 km by 5 km area at Previsto Central to Previsto East (Pictures 1 and 2, Figures 4 to 7) within a previously unmapped area. The discovery remains open in all directions.
Extensive surface anomalism, soil anomaly doubles in size and only 20% of the target area covered: Field work during the optimal dry season is now focused on mapping (alteration and lithology) and soil sampling. A team of six geologists are working on the project supported by two technicians and a large group of local residents acting as field support. Extensive copper and gold anomalism has been discovered to date by geochemical soil sampling in only 20% of the 10 km by 5 km target area. Soil samples commonly exceed 0.1 g/t gold and 0.025% copper (Figures 4 to 7). The gold anomaly has doubled in size over the last month and now exceeds 2 km by 4 km. Impressive copper rich outcrops (formed from blue azurite, a copper oxide) have been identified with many assay results in the laboratory, including channel sampling up to 192 m long (Picture 1).
Upper parts of a porphyry mineral system with scale: Mapping continues to demonstrate the scale of the mineral system. Alteration is dominated by phyllic and intermediate argillic alteration assemblages where pyrite dominates over chalcopyrite, indicating the outcropping rock exposures represent the upper parts of a porphyry mineral system. The new discovery coincides with a 10 km x 5 km large airborne magnetic and radiometric potassic anomaly. Hannan is planning 70 km regional scale IP lines across the entire system for September 2024, to demonstrate the scale and extent of the system in three dimensions.
Cluster: The Previsto discovery is the eighth significant porphyry and/or epithermal target discovered within an area of 25 km by 10 km at Previsto and Belen that Hannan now believes represents a district-scale porphyry cluster.
Michael Hudson, CEO, states: "The Previsto Central discovery area impressively continues to expand rapidly. This further supports the premise that Hannan has found another, and what looks like the largest, porphyry Cu-Au system at Valiente. We are just seeing a glimpse of what is hidden under thin soil cover and to date we have only explored a very small portion of the 10 km by 5 km target area. A team of six geologists is working on the project supported by two technicians and a large group of local residents acting as field support during the dry season as we continue de-risk and move Previsto Central forward to drill permitting as soon as possible."
Having just entered the optimal dry season Hannan's technical teams are focused on mapping and soil sampling the entire Previsto Central target covering an area of 10 km by 5 km. This will provide an excellent overview of the target that will form the basis for detailed mapping, surface IP geophysics and drill permitting. Results continue to impress and with only 20% of the target covered we are confident that the scale of this system will continue to grow.
Stream sediment sampling by Hannan in 2021 provided initial signs of a mineralized system at Previsto Central. The Company gained social access to the area late last year and prospecting work since the start of 2024 has confirmed that a significant copper-gold porphyry discovery exists in the area.
Previsto Central is defined by a large 10 km by 5 kmairborne magnetic and radiometric anomaly. Alteration associated with porphyry intrusions is often magnetic (from magnetite) and potassic (from sericite/biotite/K-feldspar). At Previsto anomalous soil anomalies are associated with areas of elevated magnetics and potassium indicating minerals associated with porphyry alteration. The footprint dimensions of the alteration system at Previsto are considered significant on a global scale for a porphyry system. This area remains the main focus of the Company's field programs during the dry season.
This Previsto Central prospect is located 2.5 km west of the Previsto East (reported on April 10, 2024). The style of mineralization observed at both prospects show strong similarities, where alteration assemblages and mineralization styles include hydrothermal breccias, intense phyllic alteration and relics of potassic alteration, roscoelite veining/dissemination and replacement of feldspars, observed sulfide minerals include chalcopyrite, molybdenite, pyrite. Veining is rare and generally only thin quartz and quartz-pyrite-iron oxide veinlets have been observed in boulders.
Previsto Central exhibits highly anomalous soil geochemical anomalies over 1,000 m, with anomalous rock chip samples and numerous windows of exposed copper and gold mineralization within a 4 km by 2 km area (Figures 4 to 7).
A detailed cross section was made across the broadest part of the 4 km wide alteration system (Figure 3). The section demonstrates a 700 m wide alteration zone, open to the east and west, showing phyllic and intermediate argillic alteration of a K-feldspar porphyry and feldspar porphyry.
Soil sampling continues to expand the footprint of the porphyry copper-gold system at Previsto Central. Soils continue to yield very high gold numbers exceeding 0.1 ppm Au. The width of the gold anomaly has now doubled and exceeds 2 km by 4 km with soil collected at a 100 m to 200 m sample spacing.
Rock sampling has returned anomalous gold and copper in channels and panel samples. The widest channel (14975) to date is 44.5m @ 551 ppm Cu and 28 g/t Mo, including 5.8 m @ 0.25 % Cu and 36 ppm Mo and 4.7 m @ 0.1 % Cu and 67 ppm Mo (Figures 4 and 6). The host rock exhibits intermediate argillic alteration in a K-felspar porphyry. A panel sample covering 3m3 located 1 km NNW of the channel returned 1.2 g/t Au hosted in a phyllic altered K-feldspar porphyry with 3% jarosite and goethitic veinlets. In the same area a weak vuggy texture and phyllic alteration is common in many samples.
Litho-geochemistry at Previsto shows a clear alkaline composition of the porphyry instructive host. The porphyries intrude sediments (sandstone, limestone, and shale) which show contact metasomatism around dykes and intrusive stocks.
Hannan is planning a 70-line km pole-dipole induced polarization geophysical survey to demonstrate the scale and extent of the mineral system in three dimensions. The Company also plans a regional LiDAR survey across the Previsto Central and Previsto East areas to help define outcropping areas and plan logistics.
At Previsto East a 1,800 m by 400 m area contains a high gold in soil anomaly associated with multiple large local copper and gold mineralized boulders, covered by scree and soil cover from 1 m to 5 m thick. Previsto East could represent either a secondary alluvial deposit that is locally or distally sourced (Picture 2).
Other News
Valiente Peru (Hannan 100%)
The DIA application for the Belen area was submitted in late January 2024 and has been progressing through the bureaucratic system much faster than previously expected. Hannan has already started to receive observations and feedback from the relevant authorities. Drill permitting times in Peru appears to be improving and the social support from the project remains strong and the Company completed the last observation to the application, being a water survey by the local water authority, over the last two weeks.
The permit area contains two outcropping porphyry targets (Ricardo Herrera and Sortilegio) and one zone with signatures of both porphyry-epithermal and skarn mineralization (Vista Alegre).
San Martin (JOGMEC JV - Peru)
The environmental permit, the Declaracion de Impacto Ambiental ("DIA") for 40 drill platforms was received from the Ministry of Mines in Peru during January 2024. The DIA is the primary environmental certification required to allow low impact mineral exploration programs, that includes drilling programs, to proceed at the San Martin copper-silver project in Peru.
The Authorization to Initiate activities has been delayed by 30 to 60 days as the Company has been requested to provide further information by the General Directorate of Mining from the Ministry of Mines ("DGM") relating to additional underlying paperwork from the State who holds underlying land titles. The Company has legal permission from the local landholders and communities who have lived on the land for decades. The Company expects drill rigs on the ground in San Martin in October 2024.
A two-stage drill program is planned:
First stage: A 2,000 m diamond drilling program over a 2 km strike of mapped surface mineralization down to 800 m depth.
Second stage: Subject to Stage 1, a further 1,500 m drill program to test the continuity of mineralization
Subject to results in Stage 1 or Stage 2 additional areas may be tested within the 7 km long permitted area.
San Martin West (JOGMEC JV - Peru)
Environmental data collection to support a new DIA application at San Martin West has commenced and will be completed in the coming 2 months.
The environmental data is being collected at San Martin West over an outcropping copper-silver mineralization trend that has been mapped for over 2.3 km of strike including 5.8 m at 3.1% copper and 65 g/t silver from a surface channel sample (previously reported).
Cerro Rolando Chile (Hannan has option to earn 100%)
Hannan is in the process of permitting a small drill program to test a shallow conductor at the Cerro Rolando Project in Chile. The conductor has been modeled to a depth of 60 m and may represent a perched supergene blanket from a mineralized porphyry at depth.
A community contract is in the process of being signed with final drill approval anticipated during September 2024. Permitting for 3 platforms has been made with a minimum contract requirement for one 100 m deep hole to test the shallow conductor.
The conductor is 10 m to 15 m thick and open to the E and W. It directly overlays a magnetic anomaly that is modeled to 450 m depth. The drill target is located at a regional significant NNW lineament that controls the emplacement of the giant Chuquicamata deposit.
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 discovered in 2021 during an extensive greenfields exploration program initiated by Hannan for back-arc porphyry copper-gold systems. The Company has been actively exploring 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. Early surface prospecting discovered two outcropping copper-gold porphyry targets and one epithermal target at Belen (see Press Release Feb 16, 2023) that is now being drill permitted (Figures 1 and 2). Porphyry discoveries 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.
In January 2024 Hannan submitted it first drilling application (DIA) covering two porphyry targets and one epithermal target at the Belen zone (here for news release). The company is now expanding the footprint by exploring new areas to build a pipeline of projects that will be permitted, and drill tested over the coming five years.
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 preformed on 0.25g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS. Channel samples are considered representative of the in-situ mineralization samples and sample widths quoted approximate the true width of mineralization, while grab samples are selective by nature and are unlikely to represent average grades on the property. 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 routing use of CRM and field duplicates as well as 10% check samples analyzed by ALS Lima.
About Hannan Metals Limited (TSXV:HAN)(OTC PINK:HANNF)
Hannan Metals Limited is a natural resources and exploration company 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. Hannan is a top ten in-country explorer by area in Peru.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical disclosure contained in 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.
Picture 1: Photos of outcropping copper oxides (azurite) at Previsto Central
Picture 2: View from Previsto East looking west showing the 4 km2 footprint of the Previsto Central porphyry target area and the core 3 km x 1 km target.
SOURCE: Hannan Metals Ltd.
Turmalina Metals Corp. to Acquire the Colquemayo Copper-Gold-Silver Epithermal-Porphyry Project in Peru with Reported Drill Assays Including 237.3 m of 2.4% Copper
https://ca.finance.yahoo.com/news/turmalina-metals-corp-acquire-colquemayo-120000222.html
Turmalina Metals Corp.
Wed, July 3, 2024 at 5:00 a.m. PDT·18 min read
TBXXF
0.00%
VANCOUVER, British Columbia, July 03, 2024 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-FSE)
DLP Resources Intersects 66m of 0.42% Cu and 4.89g/t Ag Within a 202m Interval of 0.25% Cu and 2.93g/t Ag on the Aurora Project in Southern Peru
https://www.newsfilecorp.com/release/214248
June 25, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - June 25, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
American Lithium Announces Strong Progress on Falchani Flow Sheet Optimization and Intent to Commence Pilot Work During H2 2024
https://ca.finance.yahoo.com/news/american-lithium-announces-strong-progress-110000393.html
American Lithium Corp.
Thu, June 27, 2024 at 4:00 a.m. PDT·5 min read
AMLI
+2.43%
VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) -- American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) is pleased to provide an update on the optimization of the Falchani processing flow-sheet. This update is based on recently completed, and ongoing, test work at Australian Nuclear Science and Technology Organization Laboratories in Sydney, Australia (“ANSTO”) in conjunction with TECMMINE in Lima, Peru (“TECMMINE”).
The unique volcanic style of lithium mineralization at Falchani, combined with low impurity content allows its flow-sheet to resemble more conventional mining / processing flow-sheets versus most hardrock lithium projects where concentrates are produced and then shipped elsewhere for further refining into higher quality products. Falchani’s flow-sheet utilizes warm sulfuric acid leaching and impurity removal steps to produce a high purity lithium carbonate (“LC”) end product on site with purity in excess of 99.5%, typically the threshold for battery grade LC. This helps drive the robust economics, particularly the low operating costs, highlighted in the Company’s original and recently updated Preliminary Economic Assessments (“PEA’s”). There is no need for additional refining steps offshore.
The Company believes it can further reduce acid consumption and reagent costs and optimize the production of LC as well as highly economic / strategic by-products by implementing a number of additional tried and tested hydrometallurgical processing steps into the core flow-sheet. This work has yielded strong results, and the Company currently intends to commence piloting work for its Falchani Project during H2, 2024.
HIGHLIGHTS FROM LATEST TEST WORK ON FALCHANI FLOW-SHEET:
Reduction of sulfuric acid consumption by approximately 50% from 480-500 kg per tonne (“kg/t”) (February 2024 PEA), down to 240 kg/t processed by utilizing counter-current leaching and simple recycling of acid-containing streams coupled with leach optimization.
Reduced acid consumption / recycling also has the implication of considerably reducing reagent requirements during final waste neutralization, which positively impacts the projected operating costs further.
Potential to further simplify the flow-sheet by employing Solvent Extraction (“SX”):
Initial testing with SX has demonstrated potential to separate even higher purity lithium at an earlier stage with the rejection of key impurities;
SX may remove several processing steps from the flow-sheet leading to reduced capex and lower reagent consumption; and
ANSTO continues to refine / optimize the potential use of SX in the Falchani flow-sheet.
At $5,092/t LC, current projected operating costs for Falchani (February 2024 PEA) are already amongst the lowest globally
Recent improvements / optimization steps and the introduction of higher quality by-products should materially reduce costs further.
Continued improvement in the specification of key by-products;
Sulfate of Potash (“KSOP”) recovery has been optimized and meets the parameters of producers and traders of potassium (“K”)-based fertilizers;
Approximately 40% of the K available in Falchani’s Lithium mineralization can be recovered as high-quality KSOP;
Concentration of Cesium Sulfate (“Cs”) has improved to approximately 20% Cs content, the threshold at which it would become a commercially viable by-product.
TECMMINE has recently run numerous additional full cycle tests on the existing “lithium-only” flow-sheet and continues to produce high purity LC with purities between 99.50% – 99.87% LC.
Simon Clarke, CEO of American Lithium stated: “We are very excited about recent flow-sheet work in which we continue to produce high purity LC exceeding battery grade thresholds in repeated full-cycle tests giving us confidence to start piloting later this year. Recent work focusing on counter-current leaching and SX has been extremely positive not only for producing high-quality by-products with strong strategic and economic value but also for optimization and material cost reduction. We will continue to refine these additions to the flow-sheet with ANSTO and TECMMINE with the goal of also introducing them into our pilot work at the appropriate time.”
Qualified Person
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About ANSTO Minerals
ANSTO Minerals is an international mining consultancy group located in Sydney, Australia, with an experienced team of 60+ engineers, metallurgists, chemists, and scientists who have been providing consulting services and process development services to the mining and minerals processing industries for well over 35 years. ANSTO Minerals has world-leading expertise in uranium ore processing, rare earth processing, zirconium/niobium/hafnium processing, base metals processing, lithium processing (brines and hardrock), and radioactivity control and management.
About TECCMINE
TECMMINE E.I.R.L. is a Peruvian metallurgical consulting company based in Lima, Peru with mineral processing and metallurgical testing laboratory facilities and experienced metallurgical personnel led by Eng. Jose Malqui.
About American Lithium
American Lithium is actively engaged in the development of large-scale lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued development of its strategically located TLC lithium project (“TLC”) in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to advance its Falchani lithium (“Falchani”) and Macusani uranium (“Macusani”) development-stage projects in southeastern Peru. All three projects, TLC, Falchani and Macusani have been through robust preliminary economic assessments, exhibit strong significant expansion potential and enjoy strong community support.
For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com.
Follow us on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
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 press release.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management and are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals;, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on May 29, 2024, and in recent securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Cautionary Note Regarding 32 Concessions
Thirty-two of the one-hundred-seventy-four concessions comprising the Falchani and Macusani Projects are currently subject to Administrative and Judicial processes in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared title to thirty-two concessions invalid due to late receipt of the annual validity payments. On November 2, 2021, American Lithium was awarded a favorable ruling in regard to title to the concessions, but on November 26, 2021, appeals of the judicial ruling were lodged by INGEMMET and MINEM. A three-judge tribunal of Peru’s Superior Court unanimously upheld the ruling in a decision reported in November 2023. American Lithium was subsequently notified that INGEMMET and MINEM have filed petitions to the Supreme Court of Peru to assume jurisdiction in the proceedings. Given the precedent of the original ruling it is hoped that the Supreme Court will not assume jurisdiction; however, there is no assurance of the outcome at this time.
Cerro de Pasco Resources Completes Payment for Critical Easement, Mobilizes Drilling Program and Prepares Financing
https://ca.finance.yahoo.com/news/cerro-pasco-resources-completes-payment-123000038.html
Cerro de Pasco Resources
Thu, June 27, 2024 at 5:30 a.m. PDT·9 min read
GPPRF
+5.77%
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
MONTRÉAL, June 27, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE:CDPR) (OTCPK: GPPRF) (FRA: N8HP) (“CDPR” or the “Company”) is pleased to inform that, following the publication of the Supreme Resolution on May 24, 2024, which granted CDPR the landmark Legal Easement, the Company has now completed the formalities related to the administrative procedure and is on track to start drilling in the coming weeks.
Formalities have included the payment of approximately US$ 1 million into the Peruvian National Bank on May 29, 2024, and formal signing of the minutes of the Easement Agreement on June 24, 2024, between CDPR and Activos Mineros (AMSAC), with the participation of the General Directorate of Mining (Ministry of Energy and Mines).
The Legal Easement enables the Company to meet conditions required to proceed with engineering studies and a 40-hole drilling program at its Quiulacocha Tailings Project (“QT Project”), with the objective of producing a master plan for reprocessing the entire Quiulacocha tailings resource.
Guy Goulet, CEO: “We are excited to commence on-site studies. Our preferred contractors are signed up and prepared to begin. Our application has undergone rigorous scrutiny, and the merits of our project, including economic, environmental, and social benefits, now speak for themselves.”
Next Steps
The drilling program will encompass geophysical studies, laboratory testing, mineralogy testing, resource estimation, and economic assessment. Its objective is to complete a Preliminary Economic Assessment (PEA) and submit a resource report compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). The Company plans to subsequently undertake a feasibility study for the Quiulacocha Project.
Site induction is currently underway to prepare for geophysical studies, and the Company aims to commence drilling activities in late July. Additionally, the Company has engaged All North as the independent qualified professional consulting firm for engineering and preparation of the NI 43-101 compliant technical report.
Concurrently with the drilling and PEA activities, CDPR has initiated the process to obtain additional authorization from the Ministry of Energy and Mines, necessary to access the area outside the El Metalurgista concession. It will allow for the completion of a comprehensive feasibility study and the application for approval to develop the extraction project for the entire Quiulacocha Tailings Storage Facility Site.
The Supreme Resolution
The Supreme Resolution was signed by the President of Peru on May 23, 2024, following an exhaustive process and endorsement by the ministries of Energy & Mines, Agriculture, and Housing & Construction. The process also included two separate rulings in support of the Legal Easement by the autonomous Mining Council.
The Quiulacocha Tailings
CDPR is the titleholder of the concession located in Peru called “El Metalurgista”, which grants it the right to explore and exploit the Quiulacocha Tailings located within its assigned area. The enforceability of these rights has been formally confirmed by the General Mining Bureau of Peruvian Ministry of Energy and Mines.
The Quiulacocha Tailings Storage Facility covers approximately 115 hectares and is estimated to hold approximately 75 million tonnes of material processed from the 1920s to 1990s.
The Quiulacocha Tailings Storage Facility is comprised of processing residues that came from the Cerro de Pasco open pit and underground mine. Noteworthy reports indicate an estimated 458 million ounces of silver equivalent across silver, zinc, copper, lead and gold within the tailings, in addition there is evidence of additional valuable metals such as germanium, tellurium, indium, and gallium.
Initially these tailings resulted from the mining 16+ million tonnes of copper-silver-gold mineralization with reported historical grades of up to 10% Cu, 4 g/t Au and over 300 g/t Ag and later from the mining of 58+ million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb and 90.33 g/t Ag.
With minimal mining costs due to surface-level material and current reprocessing capacity at adjacent plants, CDPR's Quiulacocha Project stands out as one of Peru's key mining initiatives. This endeavor not only promises economic benefits but also aims to restore the environment and create employment opportunities, aligning with the local community's needs.
Private Placement Offering of Common Share Units
The Company is pleased to announce its intention to complete a non-brokered private placement offering (the “Offering”) of up to 20,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of up to $2,000,000. Each Unit will be comprised of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.15 per share for a period of 24 months from the closing date of the Offering (the “Closing Date”).
In the event that, during the period following 24 months from the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.60 per Common Share for any period of 20 consecutive trading days, the Company may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an "Acceleration Notice") thereof and issuing a press release (a "Warrant Acceleration Press Release", and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30th day following the later of (i) the date on which the Acceleration Notice is sent to Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.
A finder's fee might be paid on the Offering, subject to the policies of the Canadian Securities Exchange ("CSE").
The net proceeds from the Offering will be used for working capital.
All securities issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
The securities to be issued under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, these securities may not be offered or sold, pledged or otherwise transferred within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the U.S., nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Engagement of Peak Investor Marketing
The Company is pleased to announce that it has retained the services of Peak Investor Marketing Corp. (www.peakinvestormarketing.com) (“Peak”) to provide marketing services to the Company for an initial 12-month term (the “Initial Term”). Peak is a Vancouver-based full-service marketing and consulting firm focused on the junior mining sector. Peak is an independent arm’s-length entity and will assist Cerro De Pasco Resources with marketing strategy and planning, corporate communications and public relations, with the goal of increasing market awareness for the Company. Under the terms of the agreement, the Company will pay Peak a monthly fee of $12,000 (plus taxes), payable on the last day of each month. After the Initial Term, Peak will continue providing these services in consideration for a monthly fee of $ 12,000 (inclusive of taxes) payable on the first day of each month, subject to termination by either party on 30 days’ prior written notice.
Technical Information
Mr. Jorge Lozano, MMSAQP and Chief Operating Officer for CDPR, has reviewed and approved the scientific and technical information contained in this news release. Mr. Lozano is a Qualified Person for the purposes of reporting in compliance with NI 43-101.
About Cerro de Pasco Resources
Cerro de Pasco Resources is a mining company, with the goal to become the next mid-tier producer in Peru. CDPR is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising mineral tailings and stockpiles extracted from the Cerro de Pasco open pit mine in Central Peru. The company’s approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. CDPR is also focused on mining, development, and exploration of its wholly owned 6,000-hectare Santander Mine in the highly prospective Antamina-Yauricocha Skarn Corridor, located 215 km from Lima. CDPR is founded on clear objectives, to engender long-term economic sustainability and benefit for the local population, from an economic, social and health point of view.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions.
Forward-looking statements, including the expectations of CDPR’s management regarding the realization, timing and scope of its drilling program, the completion of a resource report as well as the business and the expansion and growth of CDPR’s operations, are based on CDPR’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CDPR to be materially different from those expressed or implied by such forward-looking statements or forward-looking information.
Forward-looking statements are subject to business and economic factors and uncertainties and other factors, that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in CDPR’s public documents, available on SEDAR+ at www.sedarplus.ca. 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. Although CDPR believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements and forward-looking information. Except where required by applicable law, CDPR disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000
Mobile: +1-514-294-7000
ggoulet@pascoresources.com
Winshear Commences Construction of Drill Roads and Field Camp Ahead of Its Maiden 1,600m Drill Program at the Gaban Gold Project in Peru
https://ca.finance.yahoo.com/news/winshear-commences-construction-drill-roads-120000575.html
Winshear Gold Corp.
Tue, June 18, 2024 at 5:00 a.m. PDT·3 min read
HELOF
0.00%
VANCOUVER, British Columbia, June 18, 2024 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) (‘Winshear’ or the ‘Company’), is pleased to report that it has initiated field activities at the Gaban Gold Project, SE Peru, including construction of an access road to the Coritiri Gold Zone, a staging field camp and the preparation of five drill sites in anticipation of a 1,600m helicopter supported diamond drill program.
Access to the project area and drill sites is reached via a nine (9) kilometre foot path and light vehicle road. The road construction is expected to take around two months to complete.
Gaban is located in the Puno Orogenic Gold Belt (“POGB”) at the juncture of the San Gaban and Inambari Rivers, which then drain into the Madre de Dios basin where extensive alluvial gold mining covers an 1,800 square kilometre area (Figure 1 and Figure 2). The Company is investigating Gaban as a potential hard-rock source for the alluvial gold being mined at Madre de Dios and on the Gaban project itself.
Following the construction of the access road, Winshear plans on completing at minimum a 1,600m core drilling program to test several shear-hosted gold zones that have returned significant gold values in several surface channel sampling programs. Previous sampling campaigns have outlined a gold mineralized shear zone extending over a one kilometre by two kilometre area with quartz vein sampling returning gold assaying up to 11.2 g/t Au. The gold anomalous zone remains open along strike to the east and southeast.
The Coritiri Gold Zone was initially identified from interpretation of airborne magnetic data, flown in 2018, which inferred the presence of an 8 km x 1 km NW-SE linear target adjacent to a 6.5 km x 3.0 km northwest-southeast trending magnetic high (Figure 1). The geophysical anomaly is coincident with a five (5) km long series of gold-in-stream sediment anomalies located within the Yanamayo River catchment (Figure 3). The underlying geology of the area comprises sheared and deformed siltstones and slates with foliation typically striking northwest-southeast and dipping moderately to the southwest.
There are several artisanal workings in the Yanamayo catchment that develop placer gold deposits where Winshear field crews have observed local alluvial miners extracting nuggets weighing up to 54 grammes. There are several prospect pits and short adits on outcropping quartz veins where visible gold has been sampled and mapped.
Winshear’s proposed Gaban drill program will be the first ever carried out on the property with the intent of testing the width of the shear zone hosting the gold mineralized quartz vein zones.
Technical Information
J. Patricio Varas, P. Geo. Is Winshear’s President and is a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release. Mr. Varas has visited Winshear’s Gaban exploration project and has reviewed the data from sampling programs for the project.
About Winshear Gold Corp.
Winshear Gold Corp. is a Canadian-based minerals exploration company advancing the Gaban Gold Project in the Puno region of Peru. The Company considers Gaban to be one of the hard-rock sources of gold contributing to the 700 km2 Madre de Dios alluvial goldfield, located 50km north of, and downstream from, the Gaban gold project.
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard Williams, CEO
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.
Cautions Regarding Forward-Looking Statements
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements and contain forward-looking information.
Generally, forward-looking 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". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks normally associated with mineral exploration. 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. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
SILVER MOUNTAIN GRANTED ENVIRONMENTAL IMPACT ASSESSMENT (EIA) PERMIT EXTENSION FOR THE RELIQUIAS MINE, CAUDALOSA MINE AND PLANT UNTIL 2034
https://www.newswire.ca/news-releases/silver-mountain-granted-environmental-impact-assessment-eia-permit-extension-for-the-reliquias-mine-caudalosa-mine-and-plant-until-2034-856904240.html
Silver Mountain Resources Inc. Jun 18, 2024, 07:00 ET
TORONTO, June 18, 2024 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that Peru's National Authority for Environmental Certification (SENASE) has approved the extension of the main environmental permit (or EIA-d) for its 100% owned Reliquias Mine, Caudalosa Mine and all their components in central Peru. This authorization extends the environmental certification for the Company's future mining operations until 2034.
Alvaro Espinoza, CEO of Silver Mountain, stated, "We continue to hit the key milestones for our Reliquias Mine as planned. Extending the Reliquias EIA is part of the permitting process which will allow us to start operations, certain that the main environmental certification covers the initial years of production and any resources that may be incorporated through our planned resource expansion programs. Furthermore, the timely approval of this extension confirms that the Peruvian government is proactively helping advance modern and responsible new mine operations in the country, taking full advantage of high metal prices and high demand for metals around the world."
On Behalf of the Board of Directors of Silver Mountain Resources Inc.
Alvaro Espinoza, Chief Executive Officer
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to restart production at the Reliquias underground mine and undertake exploration activities at its prospective silver camps at the Castrovirreyna Project in Huancavelica, Peru.
For additional information regarding the Project, please refer to the Company's news release dated May 15th, 2024 (https://agmr.ca/silver-mountain-delivers-positive-preliminary-economic-assessment-for-its-reliquias-project-peru-pre-tax-npv-5-of-c107-million-pre-tax-irr-of-57-and-payback-of-1-8-years/). A new technical report is being prepared and will be filed within 45 days of May 15, 2024. The current technical report, titled "NI 43-101 Technical Report: Mineral Resource Update, Reliquias Mine", Huancavelica- Peru, dated March 8, 2024, effective date January 1, 2024, is available at https://sedarplus.ca.
For further information about our drill program, including cross sections of the main veins with drill hole locations, please refer to our corporate presentation, available on our website at www.agmr.ca
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and holds more than 60,000 hectares in the district of Castrovirreyna, Huancavelica, Peru.
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.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Information Form dated April 26, 2024, and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. Silver Mountain 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 Silver Mountain 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 news release are expressly qualified in their entirety by this cautionary statement.
SOURCE Silver Mountain Resources Inc.
For Further Information Contact: Alvaro Espinoza, Chief Executive Officer, Silver Mountain Resources Inc, 82 Richmond Street , East, Toronto, ON M5C 1P1, +51954 475 319, info@agmr.ca, www.agmr.ca
Buenaventura Announces Resumption of Ore Processing Operations at El Brocal Mine
https://ca.finance.yahoo.com/news/buenaventura-announces-resumption-ore-processing-144500312.html
Business Wire
Mon, June 10, 2024 at 7:45 a.m. PDT·3 min read
BVN
-2.31%
LIMA, Peru, June 10, 2024--(BUSINESS WIRE)--Compañia de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, is pleased to announce that ore treatment operations at its El Brocal processing plant has resumed. Ore treatment activities resumed operations at midnight on June 7, 2024 to begin processing the accumulated inventory at the mine site. El Brocal has accumulated approximately 220,000 tonnes of copper ore to date, the processing of which will gradually ramp to a rate of 15,000 tons per day, enabling recovery of ore processing which was halted during the suspension. The Company expects to achieve the budgeted production in 3Q24 to achieve its full year 2024 production guidance.
Huaraucaca community leaders signed an agreement with El Brocal representatives to end the prior blockade and related suspension of ore treatment at the Company’s processing facilities. A formal dialogue between Community leaders and Buenaventura, facilitated by officials from Peru’s Ministry of Energy and Mines (MINEM) have reviewed and addressed overall compliance with commitments between both parties. Further, Buenaventura reaffirms its commitment and compliance with all signed agreements with communities surrounding its operations.
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).
The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).
For a printed version of the Company’s 2023 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240610718561/en/
Contacts
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Gabriel Salas, Head of Investor Relations
(511) 419 2591 / Gabriel.salas@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: www.buenaventura.com.pe/ir
Palamina to Acquire Aurania's Peruvian Subsidiary for the Pluma Sediment-Hosted Copper Silver Project
https://www.newsfilecorp.com/release/212290
June 10, 2024 8:00 AM EDT | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - June 10, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) has signed a Share Purchase Agreement (the "Agreement") to acquire 100% of the shares of Sociedad Minera Vicus Exploraciones S.A.C. ("Vicus") from Aurania Resources Ltd. (TSXV: ARU) for a consideration of 350,000 common shares of Palamina and a 1% Net Smelter Return ("NSR") royalty. Palamina may buy back half of the NSR for $1,000,000. Palamina has an "acquire and hold" strategy for its existing copper silver projects in south eastern Peru and the secured Vicus Pluma copper silver project in north eastern Peru. Closing of the Vicus transaction is expected to be completed by the end of June. Palamina remains focused on the upcoming drilling program at its Usicayos gold project in the Puno region in south eastern Peru.
Palamina, on closing of the Vicus purchase, will secure 100% ownership of the Pluma sediment-hosted copper silver project which covers 9,800 hectares north and contiguous to Hannan Metals Limited's ("Hannan") San Martin Copper Silver Project. Hanna's San Martin is subject to an earn-in with the Japan Organization for Metals and Energy Security ("JOGMEC"). JOGMEC has the option to earn up to a 75% beneficial interest in the San Martin JV Project from Hannan by spending up to US$35,000,000 to deliver a feasibility study or completing certain expenditure milestones. Hannan is reportedly planning to carry out an inaugural 2,000m drill program at San Martin in 2024.
Both Aurania and Hannan were early movers in staking prospective copper silver prospects in north eastern Peru with the potential for basin-scale mineral systems that share geological similarities with sedimentary copper silver deposits including the vast Kupferschiefer deposits in Eastern Europe and deposits of the African Copper Belt situated in southern Africa, two of the largest copper districts in the world.
"On closing of the Vicus transaction, Palamina will secure 100% of the Pluma copper silver project contiguous and north of Hannan's San Martin copper silver JOGMEC JV Project where an inaugural drill program is reportedly planned in 2024. Hannan's drill program is designed to test the theory that the red-bed strata located in proximity to salt domes (acting as a conduit for mineralization) has the potential to host world class sedimentary copper silver deposits. Inaugural drill discovery programs are also being carried out in the Sol de Oro zone at Palamina's Usicayos gold project and in the Coritiri zone at Winshear's Gaban gold project in 2024. Palamina holds a 15.4% equity position in Winshear and a 2% NSR royalty on all their projects. Securing the Pluma copper silver project will provide Palamina shareholders exposure to the San Martin district where a third drill discovery program is planned by Hannan seeking to confirm a new world-class copper-silver district in Peru," commented Andrew Thomson, President of Palamina.
The Pluma block of mineral concessions, within the San Martin region of northeastern Peru, cover prospective geology, including large salt domes which could be the source of mineralizing brines in this kind of environment. Vicus has acquired 2D seismic data over northeastern Peru, which was collected by the state-owned oil company, facilitating the identification of further diapiric salt structures with additional mapping of prospective stratigraphy in an area with abundant forest cover.
At Hannan's San Martin copper silver project, drilling is planned on the northern block of their claims where reduced shales within a thick continental red-bed sequence hosts stratabound copper silver occurrences. Compression of the red-bed basins seems to be a key element in mobilizing fluids. Compression would result in sub-horizontal cracks opening, facilitating fluid flow along sedimentary beds.
Hannan's San Martin project and Palamina's secured Pluma concessions occur in the same northwest trending fold-thrust belt in which both northeast and southwest verging faults occur. Salt domes and their associated emplacement structures are viewed as conduits for potential mineralization located along antiformal axes where they intrude mainly in mudstone and siltstone sequences of the Upper Jurassic Sarayaquillo Group and coarse-grained sandstone of its Cushabatay Member.
Location of Palamina's secured Pluma copper silver project area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4727/212290_6cbee5c2d4142b87_001full.jpg
The Pluma copper silver concessions cover a northwest trending antiform extending from the northern end of Hannan's San Martin project, the core of which is composed of Sarayaquillo Group sedimentary rocks. Government maps show a salt dome in the southwest corner of the Pluma claim block. The Pluma claims have road access where an initial site visit by Aurania reportedly identified gossanous material with relict pyrite casts and suspected malachite staining within veinlets hosted in sandstone of the Cushabatay Member. Palamina plans to carry out an initial reconnaissance mapping and sampling program before the start of the rainy season in November.
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 a gold exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in south-eastern Peru. Palamina is set to commence a drill program at its Usicayos gold project. Palamina holds a 15.4% equity interest in Winshear Gold Corp. (TSXV: WINS). Winshear are scheduled to conduct an inaugural drill program at their Gaban Gold Project in 2024. Palamina also has an "acquire and hold" strategy with copper silver assets in the Santa Lucia district in south eastern Peru and an Agreement to purchase Vicus and all of its assets including the Pluma copper silver project in the San Martin district in north eastern Peru. Palamina has 71,284,836 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 use of proceeds of the Offering and the Company's future business 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.sedar.com.
SOURCE: Palamina Corp.
Followers
|
18
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
4633
|
Created
|
08/23/04
|
Type
|
Free
|
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....................................................... .......................................................
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |