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.
Aftermath Silver Obtains Permits for Additional Drilling at Berenguela
https://www.newsfilecorp.com/release/209985
May 22, 2024 8:30 AM EDT | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF)
Hannan Outlines A Significant Copper-Gold Porphyry At Previsto Central, Peru
https://www.accesswire.com/866153/hannan-outlines-a-significant-copper-gold-porphyry-at-previsto-central-peru
Wednesday, 22 May 2024 06:30 AM
VANCOUVER, BC / ACCESSWIRE / May 22, 2024 / Hannan Metals Limited's ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF)
Kuya Silver Announces First Production from Bethania Silver Project
https://www.newsfilecorp.com/release/209923
May 21, 2024 8:00 AM EDT | Source: Kuya Silver Corporation
Toronto, Ontario--(Newsfile Corp. - May 21, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce the commencement of production from the Bethania silver mine.
Mineralized material is being recovered from the Española vein system at the 640 level, hauled to surface using the pre-existing decline and a winch on surface. Over the past few months, the Company has focused on reconditioning of the western portion of the mine to allow for safe production from this initial stope. In the coming months, reconditioning of other areas will continue at the 640 and 670 levels, and production access for the 12 de Mayo and Victoria vein systems are to be developed. Production is expected to ramp up progressively over the next year to an initial target of 350 tons per day.
Initial production is being stockpiled at the mine to be transported in larger batches for milling. Production and stockpiling operations for the first processing batch may take a month or more, however as operations scale, the Company anticipates transitioning to producing a processing batch every few days.
Christian Aramayo, Kuya Silver's COO, commented: "Achieving first production from the Bethania mine is a monumental milestone for Kuya Silver and signifies the beginning of increased production in this rich silver district. The dedication of the Kuya Silver team in Peru has been instrumental in reaching this point, demonstrating perseverance and proficiency while fostering a strong culture of safety and care for our surroundings."
The Company will continue to provide operational updates as the Bethania project ramps up.
Figure 1: Christian Aramayo, COO (left) and David Stein, President and CEO (right) cutting the ribbon to officially open the Bethania Silver Mine
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5945/209923_82b68dd5b4fbb88e_001full.jpg
Figure 2: First full ore cart, material from the Española vein hauled up from the 640 level by a motorized winch and ready to be dumped on the ore stockpile
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5945/209923_82b68dd5b4fbb88e_002full.jpg
Figure 3: Group including Kuya Silver management, guests and mine staff entering the 670 level adit to inspect the progress
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5945/209923_82b68dd5b4fbb88e_003full.jpg
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Kevin J. O'Connell, P.E., Independent Technical Advisor to Kuya Silver and a Qualified Person as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya Silver is a Canadian-based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.
For more information, please contact:
David Stein, President and Chief Executive Officer
Telephone: (604) 398-4493
info@kuyasilver.com
www.kuyasilver.com
Reader Advisory
This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "propose," "new," "potential," "prospective," "target," "future," "verge," "favourable," "implications," and "ongoing," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Kuya Silver Corporation
Alta Copper Announces Robust Economics for Cañariaco with US$2.3 billion After-Tax NPV and 24% IRR
https://www.accesswire.com/863483/alta-copper-announces-robust-economics-for-caariaco-with-us23-billion-after-tax-npv-and-24-irr
Wednesday, 15 May 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / May 15, 2024 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU)
Western Metallica Returns Average Values of 2.9% CU and Confirms Historical Results From Turmalina Copper-Molybdenum Project in Peru
https://ca.finance.yahoo.com/news/western-metallica-returns-average-values-104500696.html
Western Metallica Resources Corp.
Wed, May 15, 2024 at 3:45 a.m. PDT·4 min read
WMS.V
0.00%
TORONTO, May 15, 2024 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) (“Western Metallica” or the “Company”) is pleased to announce initial results from its ongoing sampling program at the Company’s 2,747-hectare, Turmalina Project, a high-grade copper-molybdenum past producing mine hosted in tourmaline breccia pipes.
The recent rock chip sampling (refer to Figure 2) confirmed the historic results, as well as fit within the historical grade sections of the main breccia pipe in Figure 3, at both level 0 and level 5 that, are the only levels partially accessible currently (see Figure 3). The only sample collected from a face at level 0 returned Cu value of 0.1%, Mo >1%, with 1g/t Au and 37g/t Ag. More consistently 6 samples have been collected along level 5 that returned an average Cu value of 2.9% (MAX 5.9%) and average Mo values of 0.19% with one sample above 1% Mo.
Greg Duras, President and CEO of Western Metallica, commented: “It is encouraging to see such high grades in an underexplored Project in Peru, a country that hosts several world-class copper porphyry mines and projects. We believe Turmalina has an intact exploration potential that needs to be tested to define what could be a new high-grade copper-molybdenum resource."
The Turmalina Project is located in the Piura region of northern coastal Peru, approximately 170 kilometres by road from the Pan-American coastal highway to the west. The Project is located at an elevation of 2,600 metres in the western Cordillera of the Peruvian Andes near the coast and along a major road, lying within the same metallogenic belt as major projects such as Rio Blanco, Canariaco and La Granja.
The project is characterized by widespread, kilometre-scale, porphyry-style phyllic alteration, sulfidic veining, and several quartz tourmaline breccia pipes of which at least two are mineralized, suggesting the potential exists for a very large porphyry copper-molybdenum system at depth (refer to Figure 1).
One of the high-grade copper-molybdenum breccia pipes at Turmalina was the site of a historic producing mine with five production levels. The mine was active for ~25 years from the late 1960s until the mid 1990s, producing copper and molybdenum concentrates. Previously operated by Hochschild and then by Peruvian mining pioneer Guido del Castillo, the mine was shut down in the mid-1990s due to low commodity prices during that period.
The mine is known to have had an output rate between 100 tonnes and 300 tonnes per day by the 1990s, up from less than 100 tonnes per day in the 1970s. The mine has historically produced between 2 million and 3 million tonnes, with reported head grades of 2.0% Cu and 0.40% Mo and metallurgical recoveries of approximately 70% for copper and 95% for molybdenum. Historical reports indicate that the concentrates produced graded up to 35% copper and 95% molybdenum. There is significant exploration potential at Turmalina, with no exploration drilling taken place since the late 1990s and where several breccia pipes with no historic production have been mapped on surface but have to be drilled.
The mineralized breccia pipe measures approximately 175 metres in diameter and extends 350 metres in depth, remaining open at depth. Mineralization occurs as open space fillings, disseminations, and sulfide-rich vein, consisting of pyrite, chalcopyrite, minor bornite, molybdenite, and arsenopyrite within a quartz-tourmaline matrix. A pyrite-bearing silicified halo to the breccia extends approximately 100 metres away, increasing the exploration potential significantly.
Turmalina Project – Location of the known breccia pipes and old mine tailings.
Figure 1 - Turmalina Project – Location of the known breccia pipes and old mine tailings.
Turmalina mine –Plan view showing the surface projection of level 4 (the only historical survey available), the location of the Western Metallica rock chip samples described above and the cross-section trace (Figure 3).
Figure 2 - Turmalina mine –Plan view showing the surface projection of level 4 (the only historical survey available), the location of the Western Metallica rock chip samples described above and the cross-section trace (Figure 3).
Turmalina mine –N-S section (looking E) of the mine with Cu (left) and Mo (right) grade contours (from historical plans) and location of the rock samples assays from the Western Metallica validation program.
Figure 3 - Turmalina mine –N-S section (looking E) of the mine with Cu (left) and Mo (right) grade contours (from historical plans) and location of the rock samples assays from the Western Metallica validation program.
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 in 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/399e6b1e-5d04-4b4d-a4ad-0629bc7722ff
https://www.globenewswire.com/NewsRoom/AttachmentNg/90543ce9-f5b6-4570-b8f6-c0c44a2de48a
https://www.globenewswire.com/NewsRoom/AttachmentNg/1635225a-0083-40f9-b84f-d3d0e598b437
Solis Bolsters Copper Landholding in Peru
https://www.newsfilecorp.com/release/208869
May 10, 2024 7:27 PM EDT | Source: Solis Minerals Ltd.
HIGHLIGHTS
New applications cover 6,400 hectares of highly prospective copper ground across a coastal belt located directly between Ilo Norte and Ilo Este
Areas were previously held by Anaconda Copper. Ground visits indicate the area has received limited exploration
Total of 43,500 hectares pegged, mostly in the coastal belt, establishing Solis as a significant landholder in a highly prospective and emerging belt with porphyry copper potential
Two drill permit applications now underway over Ilo Este and Ilo Norte (Chancho al Palo). Cinto application in planning phase
Copper mineralisation in association with silicification and alteration identified outcropping at surface on new application areas
Follow-up mapping and initial geophysical studies to commence immediately
Solis continues to review potential acquisitions in various jurisdictions and commodity spaces with a focus on copper and lithium projects which are drill ready or with mineralised systems already identified
West Leederville, Western Australia--(Newsfile Corp. - May 10, 2024) - Solis Minerals Limited (ASX: SLM)
Silver Mountain Delivers Positive Preliminary Economic Assessment For Its Reliquias Project, Peru; Pre-Tax NPV 5% Of C$107 million, Pre-Tax IRR Of 57%, And Payback Of 1.8 Years
https://www.newswire.ca/news-releases/silver-mountain-delivers-positive-preliminary-economic-assessment-for-its-reliquias-project-peru-pre-tax-npv-5-of-c-107-million-pre-tax-irr-of-57-and-payback-of-1-8-years-883083484.html
Silver Mountain Resources Inc. May 15, 2024, 07:00 ET
Key Highlights – Preliminary Economic Assessment ("PEA")
Pre-Tax Net Present Value ("NPV"), C$107 million1 at 5% discount rate, and Pre-Tax Internal Rate of Return ("IRR") of 57%
After-Tax Net Present Value ("NPV"), C$85 million1 at 5% discount rate, and After-Tax Internal Rate of Return ("IRR") of 51%.
Construction time of 10 months
Payback Period of 1.8 years
Profitability ratio (Initial CAPEX/NPV) of 2.5 times
Average annual metal production of 2.2 million ounces AgEq per year
Initial CAPEX of US$24.8 million
All-in Sustaining Cost ("AISC") 2 of 17 US$/Oz AgEq
Benefits from existing and fully permitted infrastructure
TORONTO, May 15, 2024 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF)
First Andes Silver Signs Drill Contract for Santas Gloria Silver Property
https://www.newsfilecorp.com/release/208473
May 09, 2024 8:00 AM EDT | Source: First Andes Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - FIRST ANDES SILVER LTD. (TSXV: FAS) (OTC Pink: MSLVF) (FSE: 9TZ0) (the "Company") is pleased to announce that it has entered into a drill contract for its maiden drill program at the high-grade Santas Gloria silver property.
Highlights:
An initial 1,500m diamond drill program to commence in the upcoming weeks.
Drilling to target Tembladera and San Jorge vein systems with previous high-grade results:
Tembladera underground channel assays of >10,000 g/t Ag, >20% Pb and up to 9.1% Zn.
San Jorge surface channel assays of between 93 to 2500 g/t Ag, and underground channel assays of up to 3210 g/t Ag.
Fully funded drill program from recent private placement.
Drilling will initially target the 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. The Company 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 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/10525/208473_1603c21d247e5bb2_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.
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.
Chakana Confirms Another Mineralized Breccia Pipe with 23.0m of 0.61 g/t Gold, 1.02% Copper and 26.1 g/t Silver (1.65% Cu-Eq) at Estremadoyro - Soledad, Peru
https://www.newsfilecorp.com/release/208343
May 08, 2024 6:20 AM EDT | Source: Chakana Copper Corp.
2024 Highlights at Soledad Project Include:
Two shallow holes completed to test the grade of the Estremadoyro tourmaline breccia pipe with mineralized intercepts of:
17.7 m @Bill H
23.0 m @jakev
First reported occurrence of:
bornite associated with chalcopyrite in breccia mineralization
low-grade copper halo in wall rock of breccia
Drilling is now underway 900 m southwest in the Mega-Gold target area with 2 holes completed and the third hole in progress (assays pending)
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) - Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX)
Peruvian Metals Provides Update on Production at the Aguila Norte Processing Plant
https://www.newsfilecorp.com/release/208103
May 06, 2024 9:30 AM EDT | Source: Peruvian Metals Corp.
Edmonton, Alberta--(Newsfile Corp. - May 6, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide an update on mineral processing at its 80% owned Aguila Norte Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the first four months of 2024 the Plant completed ten mineral campaigns processing a total of 9,199 metric tonnes (mt). This year's production exceeded production levels of 8,157 mt in 2023 by 13%. The Company is extremely pleased with this years' production at a time when the rainy season in Peru usually affects mining operations.
Jeffrey Reeder, CEO of Peruvian Metals, comments: "We are extremely pleased with our production at Aguila Norte during the first months of 2024. Normally this is a time where Peruvian miners and explorers are affected by the rainy season with less mineral available. We have steady clients and expect to process our mineral in the 3rd and 4th quarter of 2024. We fully expect that production levels will increase for the remainder of the year and expect a record year."
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.
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"
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290 or Evan Eadie Tel: (647)-370-5268.
Website: www.peruvianmetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
SOURCE: Peruvian Metals Corp.
Buenaventura Announces First Quarter 2024 Results
https://ca.finance.yahoo.com/news/buenaventura-announces-first-quarter-2024-014000657.html
Business Wire
Mon, April 29, 2024 at 6:40 p.m. PDT·5 min read
BVN
+2.37%
LIMA, Peru, April 30, 2024--(BUSINESS WIRE)--Compañia de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM)
Alta Copper Delivers a New Geological Model; Provides Update on the Optimized PEA; Drill Permit and Community Relations
https://www.accesswire.com/857942/alta-copper-delivers-a-new-geological-model-provides-update-on-the-optimized-pea-drill-permit-and-community-relations
Tuesday, 30 April 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ("Alta Copper" or the "Company") is very pleased to provide an update on significant developments and progress to date on several fronts at its 100% owned Cañariaco advanced staged copper project.
Highlights:
New Geological Model ("2024 Model") Identifies Several High Priority Drill Targets: a new geological model for the Cañariaco project has been completed with the re-interpretation of zonation of grades within the Cañariaco Norte deposit while identifying several high priority drill targets (See Figure 3 & Figure 4);
Conducted a generative study to define and prioritize a portfolio of targets for future testing in underexplored areas of the Cañariaco Sur and Quebrada Verde Targets (See Figure 1);
Planned increased drill hole coverage in areas with less drill data to obtain a better understanding of the geometry and continuity of mineralized zones, breccias and the various porphyry intrusions within both the Cañariaco Norte and Cañariaco Sur deposits (See Figure 2);
Drilling will focus on the under explored Cañariaco Sur porphyry copper gold deposit, the undrilled Quebrada Verde porphyry target and enhancement of the Cañariaco Norte deposit with both infill drilling and testing of several recently identified high grade zones open to depth;
A 40 Platform drill permit application ("DIA") based on on Environmental and Social Impact Assessment studies completed by Yaku Consultores was submitted in December 2023 to Ministerio de Energia Minas ("MINEM"). Up to 47,000 metres of drilling will be staged in phases of 10,000 to 20,000 metre drilling each targeted to commence by Q4-2024 or earlier;
A meeting was recently held regarding initial comments received from Dirección General de Asuntos Ambientales Mineros de Perú ("DGAAM"), Servicio Nacional Forestal y de Fauna Silvestre ("SERFOR") and Autoridad Nacional del Agua ("ANA") on the DIA application. The Company readily addressed all comments with approval of drill permits now expected by Q3-2024 or earlier;
Optimized Preliminary Economic Assessment ("Optimized PEA") with publication of results now targeted on or before May 15, 2024; and
Alta Copper continues to advance its long-term involvement with the community in a fashion that endeavors to benefit all stakeholders. The primary objective it is to improve sustainable development in the community which will allow for better quality of life for all community members with or without a mining project through the implementation of Economic and Social Development Support Programs and Corporate Strategic Partners. The provision of S/250,000 soles of a total of S/750,000 soles of a previous commitment has been further ratified for the development of sustainable projects in the area.
Giulio T. Bonifacio, Executive Chair, commented "We are very pleased with progress achieved to date on several fronts inclusive of our Optimized PEA and while this has taken longer than initially anticipated the results and the additional time taken will be more than justified. During the field visit in February, engineers from AGP and Ausenco identified excellent opportunities to improve the project with changes to the infrastructure layout for the site. Following this, Whittle also identified several opportunities for optimizing the mine plan. These various improvements have required additional time to incorporate into the Optimized PEA however they will prove to be of great value while further guiding the future development of the Cañariaco project which is one of the largest copper deposits in the Americas not currently held by a major. We have benefited from the wealth of previous studies and engineering work completed to date which will result in a study that is more advanced on several levels than one typically sees in many other PEA level studies."
Joanne C, Freeze, President & Chief Executive Officer, commented "We are very pleased with the results from our 3D Geological Modelling inclusive of an extensive and thorough review of our deposits which has identified several high-grade zones which are open to depth and laterally at Cañariaco Norte. We have also gained a better understanding of Cañariaco Sur and Quebrada Verde while identifying several high priority drill targets. All of this has clearly demonstrated further expansion potential in the two known deposits as well as the Quebrada Verde porphyry target. We are equally pleased with the recent gains with the Community which we will continue to advance as we further engage by way of our community offices and field activities in preparation of the upcoming staged 10,000 to 20,000 metre drilling program."
Optimized Preliminary Economic Assessment
Whittle Consulting Pty Ltd ("Whittle") and Ausenco Engineering Canada Inc. ("Ausenco") and AGP Mining Consultants Inc. were engaged in 2023 for purposes of advancing project optimization which involves a rigorous analytical and computational process using Whittle's Strategic Mine Planning software and Integrated Strategic Planning concepts. To date, hundreds of iterations of pit shells have been conducted to establish the most advantageous mine plan. In addition, statistical studies that identified several compelling alteration effects on the deposit, were incorporated into our 3D Geological Modelling and have been linked to zones with higher copper grades all of which will be incorporated in our Optimized PEA.
Based on what are considered very positive developments with our 3D Geological Modelling, more fully described below, positive metallurgical testwork on Cañariaco Sur and Whittle optimization, the Company is now targeting to publish the optimized 2024 PEA on or before May 15, 2024. The Optimized PEA has benefited from previously conducted engineering studies over many years, especially 2010 through 2014 and 2021 to 2022, which will prove to show many aspects developed beyond a typical PEA level.
2024 Geological Modelling
A new geological model for the Project has been completed with the re-interpretation of district-scale and project-specific geology including statistical analyses on alteration effects to various lithologies. This new geological model, has identified significant mineralization potential and numerous high priority drill targets which will provide the foundation for the planned staged 10,000 to 20,000 metre drilling program targeted to commence by Q4-2024.
The 2024 geological modelling has identified several high-grade copper zones with previously untested potential depth extensions. These zones as well as internal zones, where infill drilling could expand some high-grade zones, will be drill tested with the goal of further enhancing the current substantial mineral resource already defined at Cañariaco.
Methodology
The 2024 geological model for alteration and lithologies relies on detailed logging of 85,000 metres drilled between 2006 and 2013, largely in Cañariaco Norte. Information which was captured in historic logs has been recently reviewed. Multi-element geochemical data available for most of the holes was used to establish lithological and alteration zonation modelling. The data collected has not previously been incorporated into a formal three-dimensional geological model.
Interpretation of geology was hand drawn on cross sections, where appropriate, and together with the other technical datasets, was integrated into Leapfrog software to generate the new three-dimensional model.
Next Steps
Our current geological model and observations from historical drilling will provide the framework for our upcoming diamond drilling program. (See Figures 1 to 9 following). In addition, a generative study is underway to provide a portfolio of targets for future testing, in a district that remains underexplored.
End of Figures
Community Relations and Field Activities
Alta Copper continues to advance its long-term involvement with the community in a fashion that will benefit all stakeholders. The goal is to improve sustainable development in the community which allows better quality of life for the community members with or without a mining project nearby through the implementation of Economic and Social Development Support Programs and Corporate Strategic Partners.
Our community relations team together with community members recently reviewed 40 agricultural products potentially suitable for production in the area and chose 5 products (coffee, dried mushrooms, gooseberries, green peas and trout). These products were chosen as they will allow coverage of all 3 altitude zones in the project's area of influence while identifying potential for major positive community impacts that can result from:
technical assistance to improve product quality;
expansion of current production given the existence of large market potential; and
better income for the producers and clear interest from local producers.
We have introduced Corporate Strategic Partners in coffee and mushrooms, whom are major Peruvian exporters, and have identified groups that could be suitable for the gooseberries, green peas and trout.
Alta Copper has also recently provided the first third of the S/750,000 soles committed (US$ 210,000) for the development of sustainable projects in the area. These projects are to be chosen by a committee made up of community members, Cañariaco Copper team and the Lambayeque Chamber of Commerce.
Alta Copper currently has field personnel working with locals and consultants preparing for the upcoming drill program. The team has been conducting maintenance work on local roads, the field camp as well as conducting other various environmental tasks required for the drilling. In addition to the technical aspects, this work allows us increased community engagement.
As of February 2023, the Company has four community offices which, allow the Cañariaco Copper team many more opportunities to engage with the local community. The dialogues and exchanges of information with the local community are much more frequent and continuous now.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Alta Copper's, President, CEO and Director, Joanne Freeze, P.Geo., who is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Alta Copper
Alta Copper is focused on the development of its 100% owned Cañariaco advanced staged copper project. Cañariaco comprises 97 square km of highly prospective land located 150 km northeast of the City of Chiclayo, Peru, which include the Cañariaco Norte deposit, Cañariaco Sur deposit and Quebrada Verde prospect, all within a 4 km NE-SW trend in northern Peru's prolific mining district. Cañariaco is one of the largest copper deposits in the Americas not held by a major.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements with respect to the effective date of the consolidation and name change of the Company. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
On behalf of the Board of Alta Copper Corp.
"Giulio T. Bonifacio" Executive Chair and Director
For further information please contact:
Giulio T. Bonifacio, Executive Chair and Director
gtbonifacio@altacopper.com
+1 604 318 6760
or
Joanne C. Freeze, President, CEO and Director
jfreeze@altacopper.com
+1 604 512 3359
Email: info@altacopper.com
Website: www.altacopper.com
Twitter:https://twitter.com/Alta_Copper
LinkedIn:https://www.linkedin.com/company/altacopper/
Facebook: https://www.facebook.com/AltaCopperCorp
Instagram:https://www.instagram.com/altacopper/
YouTube:https://www.youtube.com/@AltaCopper
SOURCE: Alta Copper Corp.
Pan American Silver Announces the Sale of La Arena for US$245 Million Cash Upfront and US$50 Million Contingent Payment
https://ca.finance.yahoo.com/news/pan-american-silver-announces-sale-091400974.html
Business Wire
Wed, May 1, 2024 at 2:14 a.m. PDT·7 min read
PAAS.TO
+3.31%
PAAS
+1.57%
PAASF
-0.02%
retains a 1.5% gold net smelter return royalty for the La Arena II project
VANCOUVER, British Columbia, May 01, 2024--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American") announces that it has agreed to sell its 100% interest in La Arena S.A. ("La Arena"), which owns the La Arena gold mine as well as the La Arena II project in Peru, to Jinteng (Singapore) Mining Pte. Ltd., a subsidiary of Zijin Mining Group Co., Ltd. (collectively, "Zijin") for US$245 million cash upfront and a US$50 million contingent payment.
"With the sale of La Arena, we continue to deliver on our strategy to optimize our portfolio, following the Yamana transaction, while maintaining future upside through the retention of royalties," said Michael Steinmann, President and Chief Executive Officer of Pan American. "Proceeds from the transaction will further strengthen our financial position and allow us to deliver on our capital allocation priorities of investing in high-quality assets, debt reduction and returning capital to our shareholders."
Under the terms of the agreement, at closing Zijin will pay US$245 million in cash and will grant Pan American a life-of-mine gold net smelter return royalty of 1.5% for the La Arena II project. Upon commencement of commercial production from the La Arena II project, the agreement provides for an additional contingent payment from Zijin of US$50 million in cash. The closing of the transaction is subject to customary conditions and receipt of regulatory approvals. Pan American expects the transaction to be completed in the third quarter of 2024.
The La Arena property is located in the La Libertad province of Peru and is comprised of the La Arena gold mine and the La Arena II project. Since acquiring the mine from Tahoe Resources Inc. in 2019, Pan American has successfully added 535,521 ounces of gold through exploration, and extended the mine life from 2021 to 2026, with the potential for further extension.
About Pan American Silver
Pan American Silver is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com
Follow us on LinkedIn
Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the receipt of regulatory approvals and successful completion of the proposed sale of La Arena , as well as the anticipated terms and timing for the completion thereof; the anticipated use of proceeds, including investing in high-quality assets and providing returns to our shareholders; the anticipated benefits from the completion of the sale of La Arena; the anticipated commencement of production from the La Arena II project; and the impact of such transaction on Pan American’s future financial or operational performance.
These forward-looking statements and information reflect Pan American’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the ability to satisfy the closing conditions and receive regulatory approval to complete the sale of La Arena; the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American is able to maintain a strong financial condition and have sufficient capital, or have access to capital through our corporate sustainability-linked credit facility or otherwise, to sustain our business and operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the duration and effect of local and world-wide inflationary pressures and the potential for economic recessions; fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the PEN, MXN, ARS, BOB, GTQ, CAD, CLP and BRL versus the USD); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments in Canada, the United States, Mexico, Peru, Argentina, Bolivia, Guatemala, Chile, Brazil or other countries where Pan American may carry on business, including legal restrictions relating to mining, risks relating to expropriation and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; those factors identified under the caption "Risks Related to Pan American's Business" in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although Pan American has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer term prospects and may not be appropriate for other purposes. Pan American does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240430474138/en/
Contacts
Siren Fisekci
VP, Investor Relations & Corporate Communications
604-806-3191
ir@panamericansilver.com
Silver X Reports Strong Q4 2023 and Year End 2023 Financial Results
https://www.accesswire.com/858260/silver-x-reports-strong-q4-2023-and-year-end-2023-financial-results
Wednesday, 01 May 2024 07:30 AM
(All dollar amounts expressed in US dollars unless otherwise noted)
VANCOUVER, BC / ACCESSWIRE / May 1, 2024 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX)
DLP Resources Announces Commencement of 2024 Drilling at Aurora
https://www.newsfilecorp.com/release/207364
April 30, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - April 30, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
DLP Resources Expands Copper and Molybdenum zone on the 100 % Owned Esperanza Project with an Additional 53 Rock Samples Returning up to 3.46 % Cu, 130.5ppm Mo, 7930ppm Zn and 245ppm Co
https://www.newsfilecorp.com/release/206728
April 25, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - April 25, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
Silver X Delivers Solid Production Growth During the First Quarter of 2024
https://www.accesswire.com/855868/silver-x-delivers-solid-production-growth-during-the-first-quarter-of-2024
Wednesday, 24 April 2024 07:30 AM
VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / SILVER X MINING CORP. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX)
Cerro de Pasco Resources Provides Update
https://ca.finance.yahoo.com/news/cerro-pasco-resources-provides-134000150.html
Cerro de Pasco Resources
Tue, April 23, 2024 at 6:40 a.m. PDT·6 min read
GPPRF
0.00%
MONTREAL, April 23, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (Frankfurt: N8HP)
Kuya Silver Provides Update on Mine Start-Up and Uncovers New Major Silver-Mineralized Vein Zone South of the Bethania Mine, Peru Kuya
Targeting Commencement of Production at Bethania in H1 2024
https://www.newsfilecorp.com/release/206307
April 23, 2024 8:00 AM EDT | Source: Kuya Silver Corporation
Toronto, Ontario--(Newsfile Corp. - April 23, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1)
Element79 Gold Reports Additional Assay Results Reinforcing Lucero Project's Momentum
https://thenewswire.com/press-releases/1BQPFWDZr-element79-gold-corp-reports-additional-assay-results-reinforcing-lucero-project-s-momentum.html
VANCOUVER, BC / TheNewswire / April 23, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0)
Inca One Reports US$11.8 Million Sales in Calendar Q1 2024
https://www.newsfilecorp.com/release/205968
April 18, 2024 5:30 AM EDT | Source: Inca One Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92)
Bear Creek Mining Announces Q1 2024 Mercedes Production of 12,228 Ounces of Gold
Average Q1 2024 gold grades 33% higher than 2023 full year average and development advances continue at improved pace
https://www.newsfilecorp.com/release/205748
April 17, 2024 7:45 AM EDT | Source: Bear Creek Mining Corporation
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2024) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM)
Buenaventura Announces First Quarter 2024 Results for Production and Volume Sold per Metal
https://ca.finance.yahoo.com/news/buenaventura-announces-first-quarter-2024-222300379.html
Business Wire
Tue, April 16, 2024 at 3:23 p.m. PDT·6 min read
BVN
-1.95%
LIMA, Peru, April 16, 2024--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM
Peruvian Metals Closes Acquisition of 50% Interest in San Maurizo Mines
https://www.newsfilecorp.com/release/205068
April 11, 2024 8:13 AM EDT | Source: Peruvian Metals Corp.
Edmonton, Alberta--(Newsfile Corp. - April 11, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals"), further to its press release of February 28, 2024 (the "Prior Press Release"), is pleased to announce the closing of its acquisition of a 50% interest in San Maurizo Mines Inc. ("San Maurizo"), a private Manitoba-based company (the "Transaction"). Pursuant to the Transaction, Peruvian Metals has issued 2,500,000 common shares to the vendor in order to acquire the interest in San Maurizo following receipt of TSX Venture Exchange approval. This strategic collaboration paves the way for both entities to collectively develop the promising Mercedes gold-silver-lead-zinc-copper mineral property, situated in central Peru. Please see the Prior Press Release for more information.
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 sulphide 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 Identifies Another Large Porphyry Gold-Copper Target at Valiente, Peru
https://www.accesswire.com/851934/hannan-identifies-another-large-porphyry-gold-copper-target-at-valiente-peru
Wednesday, 10 April 2024 08:15 AM
VANCOUVER, BC / ACCESSWIRE / April 10, 2024 / Hannan Metals Limited's ("Hannan" or the "Company") (TSXV:HAN)(OTCPK:HANNF) surface sampling at the 100%-owned Valiente project in Peru has identified an 1,800 m by 400 m alkalic porphyry-epithermal target. The discovery, named Previsto East, contains anomalously high gold in soil samples, associated with multiple large local copper and gold mineralized boulders, in an area covered by scree and soil cover from 1 m to 5 m thick.
The Previsto East discovery is the eighth significant porphyry and/or epithermal target discovered within an area of 25 km by 10 km at Previsto and Belen which Hannan now believes represents a giant porphyry cluster. As surface field work continues, both the number and tenor of individual targets has continually improved (Figures 1 and 2).
Highlights:
The footprint of the 100%-owned Miocene porphyry cluster at Valiente keeps expanding and further validates the discovery of a giant porphyry district.
At Previsto East the first gold-rich copper porphyry-epithermal target has been identified over a large area:
Rock chip and soil sampling at Previsto East have identified an 1,800 m by 400 m porphyry-epithermal target defined by strongly gold anomalous soil samples and a large local copper and gold mineralized boulder field with up to 0.64 g/t gold ("Au") in soils and up to 1.85 g/t Au in boulders.
Large outcrops of copper oxide mineralization of a similar style have been discovered 3.5 km west of the Previsto East target during recent field work (Figure 10). Assays from this outcrop are pending.
Michael Hudson, CEO, states: "Hannan's 100%-owned Valiente project keeps getting better with our teams expanding and making new discoveries every month. The scale of the Previsto East gold-rich copper porphyry system identified here competes with some of the best pre-discovery stage porphyry projects. The larger Previsto area remains largely unexplored, and our teams are now actively expanding the footprint to identify additional copper and gold rich targets adjacent to Previsto East. Excitingly early-stage prospecting has identified large outcrops of copper oxide mineralization of a similar style 3.5 km west of the Previsto East target during recent field work. We believe our work is demonstrating a giant porphyry cluster with the footprint likely to expand with further mineral prospecting during 2024."
Geological discussion
During 2021 Hannan staked 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 giant porphyry cluster within an area of 25km by 10km with eight porphyry and/or epithermal targets now identified in more detail with up to 10 earlier stage targets awaiting further work.
The most recent discovery, Previsto East outlined here is the first gold-rich copper porphyry epithermal target. Hannan geologists anticipate that the porphyry footprint will expand during 2024 as surface work moves into adjacent zones, with large outcrops of oxide copper mineralization of a similar style discovered 3.5 km west of the Previsto East target during recent surface prospecting (Figure 10). Assays from this outcrop are pending.
At Previsto East mineralization and alteration mapping of boulders, up to 5m3 in size, across the entire 1,800 m by 400 m target area have been identified. The observed styles of mineralization and alteration in boulders supports previous interpretation of an alkalic gold-rich porphyry epithermal target. Trace element association of gold and copper mineralized boulders are Cu-Au-Te-V-Pb-Mo. Alteration assemblages and mineralization styles from boulders in the 1.8 km long area include: hydrothermal breccias, intense phyllic alteration and relics of potassic alteration, roscoelite veining/dissemination and replacement of feldspars, vuggy silica textures and possible lattice bladed quartz. Observed sulfide minerals includes chalcopyrite, bornite, covellite, molybdenite, pyrite. (Figures 8 and 9). Veining is rare and generally only thin quartz and quartz-pyrite-iron oxide veinlets have been observed in boulders. Trace element associations to copper and gold mineralized boulders shows a Cu-Au-Te-V-Pb-Mo correlation. Phyllic alteration is strong and is characterized by quartz-pyrite-sericite/illite. Roscoelite and locally fuchsite selectively replaces K-felspar phenocrysts. Both minerals have been identified by portable XRF. Roscoelite also occurs in veins, veinlets and disseminations, whereas fuchsite only been observed in one location.
Rock chip sampling at Previsto East as identified an 1,800 m by 400 m porphyry-epithermal target defined by strongly gold anomalous large local copper and gold mineralized boulder fields with up to 1.85 g/t Au in boulders. A total of 84 rock samples from large local boulder fields and boulders in metre deep pits ranged from 1.85 g/t Au to <0.001 g.t Au, and averaged 0.15 g/t Au and 0.73% Cu to 0.01 % Cu and averaged 0.08 % Cu (Figure 2).
Soil results at Previsto East over an area of 1,800 m by 450 m show very strong correlation with mineralized boulders. Soil anomalies show good correlation with pathfinder elements (Figures 3 to 6). A total of 362 soil samples in a 100 m by 100 m grid and ridge-top samples assayed from 0.63 g/t Au to <0.001 and average 0.02 g/t. Of these 29 samples returned extremely high soil values between 0.10 to 0.63 g/t Au in a coherent area coinciding with mineralized boulders (Figures 3 to 6).
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. Hannan holds 1,002 sq km of mineral tenure prospective for back-arc porphyry copper-gold systems at the Valiente Project in central eastern Peru. The company has been actively exploring the project since 2021 and successfully gained social permits all areas of interests in the zone. In January 2024 Hannan submitted it first drilling application (DIA) covering two porphyry targets and one epithermal target at the Belen zone (click 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, Further Information
www.hannanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
"Michael Hudson" Mariana Bermudez, Corporate Secretary,
Michael Hudson, Chairman & CEO +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.
Rio Silver Finalizing Access Agreements for Jorimina Property, Peru
https://ca.finance.yahoo.com/news/rio-silver-finalizing-access-agreements-130000289.html
Rio Silver, Inc.
Wed, April 3, 2024 at 6:00 a.m. PDT·4 min read
RYOOF
0.00%
VANCOUVER, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) -- Rio Silver or the "Company", TSX.V: RYO, is pleased to announce it is finalizing an access agreement with the local community for its 100% owned Jorimina project "Jormaina", Department of Ayacucho, Peru. This agreement facilitates a diamond drill program planned to commence later this year.
Jormina is located within the Niñobamba Project which covers an area of 4205 hectares. The Main Niñobamba zone is located 7 kilometres to east of Jormina where a significant Au-Ag high sulphidation is present. Joramina was extensively explored by Newmont Mining Corp. “Newmont” from 2009 to 2011. The Company acquired the area from Newmont in 2016 along with an extensive database including surface and drill results and reports from an exploration program encompassing four prospective precious metal targets. The exploration programs identified extensive alteration zones believed to also be part of an extensive high-sulphidation silver-gold system identified at the Company’s adjacent Niñobamba zone.
The Company is extremely pleased to have achieved this important milestone. Jorimina was recognized by Newmont as having all the necessary elements to be capable of hosting a precious metal epithermal resource. Newmont completed thirteen diamond drill holes totaling 4377 metres at Jorimina. Drill highlights from the historic reports available showing hole JOR-001 returning 72.3 metres of 1.19 grams per tonne (“g/t”) Au starting at 53 metre depth. Historic drill holes were widely spaced in an area covering 100 hectares with drill holes spaced over 150 metres apart. Results are historic in nature and should not be relied on. Rio Silver initially plans to confirm the historic surface results and drill results and to determine the shape and the orientation of the precious metal mineralization. The Company is scheduled to receive all necessary permits by Q3, 2024 necessary to initiate a small drill program to confirm the Au-Ag mineralization.
The surface rights of the Company’s Main Niñobamba Zone located east is controlled by a different community. The Company plans to initiate a new dialogue in 2024 to obtain a permit for surface drilling in 2025. Historical diamond drilling results conducted by Anglogold on the "Main Zone” in 2001 reported assay results at DDH-2 of 87 g/t silver over an interval of 130 metres starting from a depth of nine metres, and DDH-4, reporting 54 g/t silver over a drilled interval of 96 metres starting from 23 metres. Highlights from the trenching program conducted by the Company in 2012 at the Niñobamba “Main Zone” discovered a new gold-silver mineralized zone which included 56 metres of 1.03 g/t Au and 98.9 g/t Ag in trench TR-01 and 21.77 metres of 1.32 g/t Au and 102.46 g/t Ag in TR-04 ending in mineralization (see Rio Silver News Release of January 14, 2013). These results show that the main zone on the Niñobamba property has a strong gold component, and further exploration is required to determine the precious metal zonation, alteration patterns and widths. The trenches were cut approximately perpendicular to the mineralized structure, and the true width of mineralization cannot be determined at this time.
Jeffrey Reeder, P.Geo., Advisor and a qualified person as defined in National Instrument 43-101, has approved the scientific and technical disclosure contained in this news release.
About Rio Silver Inc.
Rio Silver is a resource development company that has been selectively identifying and acquiring precious metal assets that afford the best possible leverage and returns in anticipation of an increasingly more favorable precious metals bull market. Our Peruvian precious metal assets are wholly owned with no royalty obligations. The Ninobamba area Au/Ag targets are economically attractive as the mineralization suggests near surface, bulk mineable open pit targets.
Rio Silver is pleased with our host country as the Government continues to support mining policies ensuring continued growth and opportunity throughout Peru.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
“Chris Verrico”
Christopher Verrico
604-762-4448
Chris.verrico@riosilverinc.com
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.
Inca One Reports February Sales of US$5.02 Million
March 26, 2024 5:30 AM EDT | Source: Inca One Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92)
Element79 Gold -- Extensive Channel Sampling and Mapping Reveal Promising Exploration Horizons on Lucero Property
https://thenewswire.com/press-releases/1AXXFX2eX-element79-gold-corp-extensive-channel-sampling-and-mapping-reveal-promising-exploration-horizons-on-lucero-property.html
VANCOUVER, BC / THE NEWSWIRE / March 26, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) ("Element79", the "Company) is pleased to provide additional updates on recent efforts on its Lucero property, further highlighting the flagship project's vast potential.
The latest underground mapping and channel sampling efforts on Element79's Lucero property have revealed additional insights, surpassing initial expectations. Accessible historical working, originally estimated at just 2.5 km, has been significantly. Recent work has documented an expansive network spanning 8.9 km of workings (Figure 1 and 2), with 85% now meticulously mapped and sampled. These findings significantly expand our understanding of Lucero's geological landscape, positioning the Company for unprecedented exploration opportunities.
To date a total of 19 adits have been mapped, with 10 additional adits remaining for underground mapping. In addition to discovery of significantly more accessible working, work done between October and December yielded significant insight into the project’ gold-silver mineralization. Below are some of the highlights of recent and historical workings:
Mineralization conforms to the intermediate sulfidation epithermal style, characterized by Au-Ag veins with associated lead and zinc sulphides.
Subvertical structures, hosted with dacite tuffs are the primary controls of the mineralized veins, with an average vein width of 0.40m.
Within the Apacheta zone, mineralization remains open at depth and towards the northwest.
Two structures exhibiting significant exploration potential for gold-silver mineralization have been identified: the Promesa vein and the Pillune sector.
Notably, the Pillune sector appears hosts a well-defined ore shoot, highlighting its substantial mineralization potential.
"As we advance on this journey of discovery, our commitment to unlocking Lucero's vast potential through collaborative relationships remains unwavering," said James Tworek, CEO of Element79. "With each milestone, we inch closer to realizing our vision of sustainable and responsible resource exploration and production. We remain dedicated to creating enduring value for our shareholders and fostering prosperity within the communities we operate."
Drawing from historical Buenaventura reports spanning 2005-2008, enriched by continued community engagement, Element79 has unearthed compelling prospects for exploration.
Click Image To View Full Size
Figure 1. Lucero Project location map of fall 2023 underground mapping, focused on the Apacheta, Pillune and Sando Alcalde historic mining areas.
Click Image To View Full Size
Figure 2. Isometric view with geology draped on topography, looking north, with recently mapped working (light yellow).
Notably, our exploration timeline underscores our efficient utilization of resources. This strategic resource allocation ensures the completion of ongoing initiatives and paves the way for secondary mapping and geochemistry programs in additional zones beyond Apacheta, Pillune, and Sando Alcalde.
"Lucero project's extensive potential continues to unfold as we compile drilling targets in the northwest region, where surface indicators of vuggy silica hint at underlying mineralization," said Kim Kirkland, Chief Operating Officer at Element79 and Registered Professional Geologist. "As we continue to chart new territories and push the boundaries of exploration on our flagship property, these prospects ignite a palpable sense of anticipation and excitement, propelling Element79 towards new frontiers of discovery."
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a "qualified person" as defined by National Instrument 43-101.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold's focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in 2024.
The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date in the first half of 2024. The Company has also signed an Option Agreement to sell the Maverick Springs project, an advanced-stage exploratory property with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) (see 43-101 technical report titled: Amended Technical Report on the Maverick Springs Project, Nevada, USA, by Allan Armitage, PhD., P.Geo, and Rohan Millar, B.Sc. P.Geo., dated October 7, 2022, available on SEDAR) and anticipates completing this sale on or before July 21, 2024.
In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private company that holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James.
The Company has 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
E-mail: jt@element79gold.com
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", "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.
Western Metallica Provides Update on Planned Drilling Program at the Caña Brava Project
https://ca.finance.yahoo.com/news/western-metallica-provides-planned-drilling-110100686.html
Western Metallica Resources Corp.
Mon, March 25, 2024 at 4:01 a.m. PDT·5 min read
WMS.V
-14.29%
Figure 1
Caña Brava Project: RTP magnetic anomaly map, wrapped on topography, showing the location of the exploration lines across the alteration footprints over Caña Brava 1 and Luz Maria
TORONTO, March 25, 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 recently discovered Luz Maria and Caña Brava 1 prospects, two key copper-molybdenum porphyry targets located within its 100% owned Caña Brava Project, and situated in the La Libertad Department of Northern Peru.
Geophysical and field mapping crews are currently deployed at Luz Maria and Cana Brava 1, following up on previous work conducted as it relates to strong magnetic anomalies coincident with large alteration footprints, typical of Andean copper-molybdenum porphyry systems. The previous geophysical results and field mapping confirmed the potential for a large porphyry Cu-Mo cluster under the sedimentary and colluvial cover, providing valuable targets for further exploration, which the Company is now working to further validate. Approximately 16-line kilometres of pole-dipole Induced Polarization (IP) geophysical surveys will be completed near term, aimed at identifying sulphide rich mineralization and possible blind intrusions under the strongly altered Cretaceous sedimentary rocks and under recent colluvium.
The acquisition of geophysical data is supported by an in-house geophysicist, with ample experience in exploring for porphyry and intrusion-related systems in the Andes, responsible for the daily quality control of the data, as well as for the processing and modeling. The Company is simultaneously acquiring systematic portable-XRF soil data, aimed at vectorizing the Cu-Mo distribution at surface, as well as pole-dipole IP geophysical data to identify sulphide-rich and/or resistivity anomalies, possibly indicating the presence of mineralized bodies under the sedimentary and the recent colluvial covers.
The current field programs will allow the Company to extend mapping and sampling outside the main creeks, where all outcrops of mineralized intrusive have been found to date, with the intent of confirming the presence of significant and continuous Cu-Mo porphyry mineralization at a higher level of geological confidence and across a more prominent alteration footprint. The Company believes that the integration of this large dataset will provide a solid picture about the potential of both prospects, supporting the next phase of scout drilling expected to commence by Q3-2024.
Previous work at the Luz Maria prospect successfully defined a 2.7-kilometre by 1.5-kilometre phyllic and potassic alteration footprint, comparable in size to other major Peruvian porphyry deposits. A 46 diamond-sawn channel sampling campaign 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 (refer to press release dated January 22, 2024).
Previous work at the Caña Brava 1 prospect confirmed at least a 1-kilometre by 1-kilometre sized porphyry target characterized by a distinctive leached zone with goethite and hematite box works. A 17 diamond-sawn channel sampling campaign had confirmed grades up to 0.3% Cu and average 500 ppm Cu from intrusive rocks.
Gregory Duras, Western Metallica’s CEO and Director, commented, “We are systematically advancing toward the definition of our drilling targets and moving efficiently through the permitting process, as we aim to start our scout drilling program by Q3-2024. The highly-prospective porphyry targets which coincide with Cu-Mo anomalies at both Luz Maria and Caña Brava 1, defined across previous work and currently being further validated and potentially extended, allows the Company to delineate key areas for the prospective drill program. We are very excited with the evidence of these large, well-preserved porphyry systems located in such a new, accessible, and socially favorable sector of La Libertad. It is unusual to find a virtually unexplored exposed porphyry anywhere in the world, but particularly so in Peru, where some of the largest porphyry discoveries of the past 50 years have been made. We look forward to updating the market on the results of the first IP survey completed over the area, as well as the new sampling and mapping of this new target located in one of the world’s premier porphyry belts.”
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 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.
Figure 1
Figure 1 - Caña Brava Project: RTP magnetic anomaly map, wrapped on topography,
showing the location of the exploration lines across the alteration footprints over Caña Brava 1 and Luz Maria
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 in 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68b47de1-949c-49cd-aa55-4ea10cef413f
Cerro de Pasco Resources Secures Funds for Easement to Start Drilling Program on its “El Metalurgista” Mining Concession in Peru
https://ca.finance.yahoo.com/news/cerro-pasco-resources-secures-funds-123000423.html
Cerro de Pasco Resources
Fri, March 22, 2024 at 5:30 a.m. PDT·8 min read
GPPRF
0.00%
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH ANY WIRE SERVICE IN THE UNITED STATES
MONTRÉAL, March 22, 2024 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) (“CDPR” or the “Corporation”) is pleased to announce that it has secured the funds to cover the fee payable in relation to the Legal Easement (the “Easement”). Upon publication of the Supreme Resolution granting the Easement, CDPR will pay SOL 3,647,402.44 or approximately CAD 1,350,000 to a specific bank account of Banco de la Nacion. The two-year Easement will provide CDPR with access to the surface areas corresponding to its El Metalurgista Concession and the Quiulacocha Tailings Project, enabling the Corporation to initiate its 40-hole drilling campaign.
Granting of Easement Timeline
The change of Minister of Energy and Mines in February, together with normal process clarifications resulted in a temporary delay in the ongoing procedures. At this time, we are not aware of any additional requirement that should be met for the granting of the easement and no further delays are expected. CDPR has fulfilled all the legal requirements set forth by Peruvian law for those purposes. With the Minister himself reiterating full support, the signature of the Supreme Resolution is expected imminently.
Background
CDPR is the titleholder of the El Metalurgista Concession located in Peru, 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
The Quiulacocha Tailings Storage Facility covers approximately 115 hectares and is estimated to hold approximately 75 million tonnes of tailings deposited 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. Initially these tailings resulted from the mining of copper-silver-gold mineralization with reported historical grades of up to 10% Cu, 4/gt Au and over 300g/t Ag and later from the mining of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb and 90.33 g/t Ag.
The most recent Historical Mineral Resource Estimate for the Quiulacocha tailings, prepared by JA Brophy in 2012, contained 7.4 million tonnes at 1.35% to 1.55% Zn, 0.55% to 1.00% Pb and 1.20 to 1.35 oz/t Ag. This estimate was based on a shallow surface auger sampling program which is estimated to represent only 10% of the expected tonnes of the tailings. Historical Mineral Estimates are historical in nature and cannot be relied upon for economic evaluations.
First Tranche Funding
Funding for the Easement has been secured through the sale of 15,450,000 subscription receipts of the Corporation (the “Subscription Receipts”) at a price of $0.10 per Subscription Receipt for aggregate gross proceeds of $1,545,000 (the “Offering”). The funds are held in escrow until the Release Conditions have been satisfied, namely: (i) the Corporation has received subscriptions under the Offering for a minimum amount of US$1,000,000; (ii) issuance of the Supreme Resolution, whereby the Peruvian Ministry of Energy and Mines grants and/or acknowledges the Corporation’s legal easement over certain surface areas owned by Activos Mineros SAC, allowing the Corporation to conduct mining activities in the “El Metalurgista” mining concession; and (iii) notification to the Corporation of the issuance of the Supreme Resolution.
Upon the satisfaction of the Release Conditions, 1) each Subscription Receipt will automatically be converted into a unit of the Corporation (“Unit”). Each Unit will consist of (i) one common share in the capital of the Corporation (a “Share”) and (ii) one half of one unit purchase warrant (each whole unit purchase warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one additional unit (a “Warrant Unit”) at a price of $0.15 per Warrant Unit until the earlier of the date which is 24 months after the issue date of the Warrants and, if applicable, the Accelerated Expiry Date (as defined hereinafter) (the “Expiry Date”). Each Warrant Unit shall consist of (i) one additional Share (a “Warrant Share”) and (ii) one additional Share purchase warrant (an “Underlying Warrant”). Each Underlying Warrant shall entitle the holder thereof to acquire one additional Share (an “Underlying Warrant Share”) at a price of $0.25 per Underlying Warrant Share until the Expiry Date.
In the event that, during the 24-month period following the issue date of the Warrants , the volume-weighted average trading price of the Shares exceeds $0.60 per Share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of a notice (an “Acceleration Notice”) to the registered holders 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 (the “Accelerated Expiry Date”).
In connection with the completion of the Offering, the Corporation expects to pay finder’s fees in an aggregate amount of $21,000 and issue a total of 210,000 Warrants to arm’s length third parties who assisted the Corporation by introducing subscribers to the Offering.
All securities issued in connection with the Offering are subject to a statutory hold period in accordance with applicable securities laws, expiring four-month-and-one-day from the issue date of the Subscription Receipts.
The Corporation expects to close an additional tranche by the end of the month.
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.
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 National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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 was 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.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000 Mobile: +1-514-294-7000
ggoulet@pascoresources.com
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 anticipated use of the proceeds raised under the Offering, statements relating to the publication of the Supreme Resolution granting the Easement to CDPR, the terms of such Easement and the timing of such publication, 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 risks associated with exploration, development and mining activities; the impact of macroeconomic events, and any material adverse effect on the business, properties and assets of CDPR, as well as the relevant assumptions and risks factors set out in CDPR’s public documents, available on SEDAR+ at www.sedarplus.com. 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.
No securities regulatory authority has either approved or disapproved the content of this news release.
Hannan Discovers a New Thick Style of High-Grade Sediment Hosted Copper in Peru
https://www.accesswire.com/844705/hannan-discovers-a-new-thick-style-of-high-grade-sediment-hosted-copper-in-peru
Wednesday, 20 March 2024 06:30 AM
SAMPLES 5.8 METERS AT 3.1% COPPER AND 65 g/t SILVER FROM SURFACE
VANCOUVER, BC / ACCESSWIRE / March 20, 2024 / Hannan Metals Limited ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF)
Buenaventura Obtains Key Operating Permit for Yumpag Mine
https://ca.finance.yahoo.com/news/buenaventura-obtains-key-operating-permit-131800713.html
Business Wire
Mon, March 18, 2024 at 6:18 a.m. PDT·3 min read
BVN
-1.66%
LIMA, Peru, March 18, 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 it has received its final operating permit from the Peruvian Ministry of Energy and Mines to begin production at its Yumpag mine ("Yumpag").
Leandro Garcia, Buenaventura’s CEO, commented, "Receipt of this final permit for our flagship Yumpag mine represents a significant milestone for Buenaventura and also reflects our proficiency in handling mining projects as well as regulatory processes efficiently and effectively. Securing the necessary project stages and approvals in a timely manner demonstrates our readiness to capitalize on opportunities and execute strategic objectives with precision." He continued, "We’re very enthusiastic about Yumpag’s future prospects to produce high-grade silver resources, with promising exploration campaigns. We’ve therefore achieved a key pillar to support Buenaventura’s overall growth strategy which, coupled with our focus on operational excellence and commitment to responsible resource management, position us to unlock significant value for our stakeholders."
The final operating permit approval for Buenaventura’s flagship Yumpag mine signifies the culmination of rigorous planning and preparation. This milestone marks the start of 1,000 ton per day uninterrupted mining at Yumpag, enabling Buenaventura to achieve its 2024 production guidance of 6.5 - 7.2 million silver ounces.
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 2022 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/20240318536000/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
Contacts in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: www.buenaventura.com.pe/i
Highlander Silver Provides Update on La Estrella Geological Model and Drilling Plans
https://www.accesswire.com/842794/highlander-silver-provides-update-on-la-estrella-geological-model-and-drilling-plans
Thursday, 14 March 2024 09:00 AM
VANCOUVER, BC / ACCESSWIRE / March 14, 2024 / HIGHLANDER SILVER CORP. (CSE:HSLV) (THE "COMPANY" OR "HIGHLANDER SILVER") is pleased to provide an update on the geological modelling work developed at La Estrella which will guide drill targeting in the upcoming drilling campaign.
During Q2 2023, Highlander Silver´s technical team developed a drill defined near surface exploration target of 15 to 35 Mt averaging between 50 and 60 g/t Ag, and 0.4 to 0.6 g/t Au containing some 25 to 60 Moz Ag and 0.2 to 0.7 Moz Au¹ (see news release of July 17th, 2023). In Q3 and Q4 2023, the team re-logged historic drill core and conducted geological mapping to develop an in-house geological model. The work focused on developing a comprehensive understanding of the controls on mineralisation to enable development of a prioritised set of targets for drill testing. The Company is now finalizing its drilling plan and is engaged in the drill permitting process. Highlander is targeting the end of Q2 2024 for mobilizing the drill rig.
¹ The potential quantity and grade of the exploration target is conceptual in nature, and more exploration is required to define a mineral resource. Important aspects such as metallurgical processing options need to be investigated to evaluate potential recoveries of Ag and Au. As such, it is uncertain if this work will result in the target being delineated as a mineral resource. In addition, further drilling will be required to investigate the extensions and continuity of the mineralization.
David Fincham, Highlander Silver´s President and CEO commented, "We continue to be impressed with the silver-gold potential at La Estrella. A large and strong alteration footprint, well mineralised historical drill intercepts and significant gaps in the historical drilling suggest excellent potential to improve on the numbers produced from our exploration target modelling. The technical team, led by Leandro Echavarria, has done an excellent job with the geologic model, resulting in a vastly improved understanding of the deposit and of the controls on mineralisation. Highlander Silver has developed the technical foundation to execute a drill program with the best chances of success".
Leandro Echavarria, the Company´s Vice President Exploration commented, "Our geologic model is based on the detailed drill core logging and surface mapping carried out by the technical staff at Highlander Silver. This model serves as the cornerstone for effective drill targeting to expand known mineralization zones. Identification of upflow channels that focused mineralised fluids allow us to target zones with potential for higher grade".
Regional Geology
The area is cut by a set of regional faults that control volcanism and emplacement of dome complexes (Fig. 1). Both the Julcani mine (105 million ounces of silver produced from high grade vein mineralisation averaging 16 ounces per ton since production started by Buenaventura in 1953) and the La Estrella deposit are emplaced along the fertile Julcani-Huancayo fault. La Estrella sits at an important inflection zone on the fault, generating a transtensional structural setting which enabled shallow dome emplacement, hydrothermal activity and Ag-Au ±Pb ±Zn ±Cu mineralisation.
Fig. 1 La Estrella regional geology and structural setting
Local geology, hydrothermal alteration and mineralisation
Hydrothermal alteration and mineralisation at La Estrella are associated with a dome complex intruded along transtensional zones, exploiting the rheologic contrast between limestones and red beds (Fig. 2). The dome complex is more than 2 km long in the North to South direction and has a maximum width of 900 m, dipping about 35° West, and it is formed by numerous, irregular intrusion facies, where earlier basal facies are overlain by younger facies (Fig. 3).
The dome complex is cut by NE faults producing uplifted and down dropped blocks, with maximum measured displacements of about 80 m. These faults probably acted simultaneously with dome emplacement, acting as upflow channels of the hydrothermal fluids, and exert control on the alteration and mineralisation distribution.
Fig. 2 Lithology map showing dome facies
Fig. 3. Cross section showing dome facies and distribution of mineralisation. Note distribution of strongest mineralisation, hosted by the lower dome facies. Mineralised intercepts (not true widths) in hole DDH-E23 include: A) From 111.90 m to 122.5 m (interval 10.60 m) of 0.68 g/t Au and 12.43 g/t Ag. B) From 154.0 m to 163.3 m (interval 9.00 m) of 0.66 g/t Au and 138.58 g/t Ag. C) From 166.6 m to 197.2 m (interval 30.00 m) of 0.63 g/t Au and 7.94 g/t Ag.
Hydrothermal alteration is mostly hosted within the early facies of the dome complex, with a large silicified core surrounded by strong quartz-sericite alteration and an outer halo of weaker illite-kaolinite or chlorite alteration (Fig. 4). Hydrothermal alteration is pervasive affecting the vitreous-rich early dome facies, and follows upflow channels through a set of North-South and Northeast structures (Fig. 5).
The mineralisation is found in disseminated and vein forms, associated with silicification and quartz-sericite alteration.
There are 2 stages of mineralisation: 1. Early stage and 2. Epithermal stage (Fig. 6).
1. Early stage: Related to a late-stage magmatic derived, high temperature hydrothermal fluid, introduced into the dome complex shortly after emplacement, forming a large footprint of ~2,000 m x 600 m controlled by NE and N-S structures. Mineralisation of Au±Cu±As is associated with medium-coarse pyrite, within veinlets, disseminated, cementing hydrothermal breccias or as quartz vein halos.
2. Epithermal stage: Later than the Early stage, consists mainly of quartz with fine-grained dark sulphides (pyrite-Ag sulphosalts and scarce galena and chalcopyrite) with polymetallic mineralisation of Ag±Au-Pb>Cu>Zn. The epithermal stage is commonly emplaced in discontinuous and thin structures, and as diffuse halos around early stage pyrite, mainly related to NE upflow structures.
Fig. 4. Map showing the widespread distribution of hydrothermal alteration, which forms a large zone of about 2,000 m x 500 m with a silicified core surrounded by quartz-sericite alteration.
Fig. 5. a. Silicified (quartz+pyrite) and mineralised ridge (1) with halos of quartz-sericite alteration (2), which is part of a large set of prospective Northeast structures at the central block of the dome complex. b. Detailed of upflow channel formed by hydrothermal breccia cemented by fine-grained black sulphides and quartz (1) hosted by early dome facies with quartz-sericite alteration (2).
Fig. 6. Core photos from Early stage and Epithermal stage mineralisation.
1. Early stage mineralisation:
a. Fine-grained porphyritic dacite with veinlets, irregular open space filling and disseminations. DDH-E26: 177 m, 2.49 g/t Au, 13 g/t Ag.
b. Amygdale - rich andesite, mineralisation in irregular quartz veinlets and amygdale filling with pyritic halos. DDH-E24: 128 m, 0.79 g/t Au, 4 g/t Ag.
2. Epithermal stage mineralisation:
c. Quartz+fine-grained sulphides veinlet. DDH-E24: 244 m, 0.25 g/t Au, 97 g/t Ag.
d. Structurally controlled hydrothermal breccia cemented by quartz+sulphides. DDH-E12, 182.5-183.5 m. 0.75 g/t Au, 216 g/t Ag, 7.06% Pb, 2.72% Zn.
The understanding gained from development of the 3D geologic model enables targeting of the most prospective areas for economic mineralisation. The upcoming drill program will have two main objectives: a) expand the zone of known Ag-Au mineralsation and b) target structurally favourable zones for high grade feeder potential.
The Company looks forward to providing further updates over the coming weeks.
Qualified Person
All scientific and technical information contained in this news release was prepared and approved by Walter La Torre, (Qualified Person), MAusIMM (CP). Mr. La Torre has verified the scientific and technical information disclosed in this news release by reviewing the sampling, analytical and drilling data from the Property.
About Highlander Silver
Highlander Silver Corp., backed by the Augusta Group and the Lundin Family, is a mineral exploration company focused on the discovery of exceptional silver-gold projects in the Central Andes, leveraging the team's significant technical and operational experience in Peru and South America more widely. Currently the Company is developing the La Estrella project in central Peru. Highlander Silver announced entering into a share purchase agreement for the San Luis project from SSR on November 30th 2023. Closing of the Transaction is subject to certain conditions, including receipt of all required regulatory approvals. Closing is currently expected to occur in April 2024.
The Company is listed on the CSE under the ticker symbol HSLV and additional information about Highlander Silver and its mineral projects can be viewed on the Company's SEDAR+ profile at (www.sedarplus.ca) and its website at www.highlandersilver.com
Neither the Canadian Securities Exchange (CSE) nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this news release.
For further information, please contact:
David Fincham
Chief Executive Officer
Highlander Silver Corp.
(604) 283 7630
info@highlandersilver.com
Forward-Looking Information
Certain information contained in this news release constitutes "forward-looking information" under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the future exploration plans of the Company, permitting and timing of future exploration, timing for the Company's mobilization of the drill rig, and the acquisition of the San Luis silver-gold project, which has not yet closed.. Such forward-looking information or statements can be identified by the use of words such as "anticipates", "plans", "suggests", "targets" or "prospects" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "will" be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, changes in project parameters as plans continue to be refined, accident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.
SOURCE: Highlander Silver Corp.
DLP Resources Discovers Copper on the 100 % Owned Esperanza Project with Rock Samples Returning up to 4.71% Cu, 28.8ppm Mo, 3540ppm Zn and 383ppm Co
https://www.newsfilecorp.com/release/201477
March 13, 2024 6:00 AM EDT | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - March 13, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
Forte Minerals Acquires the Alto Ruri Epithermal Gold Prospect Near Barrick’s Pierina Mine in Central Perú
https://www.accesswire.com/838903/forte-minerals-acquires-the-alto-ruri-epithermal-gold-prospect-near-barricks-pierina-mine-in-central-per
Monday, 04 March 2024 10:55 AM
Historical Drilling Returned 131 Metres Of 2.55 g/t Gold
VANCOUVER, BC / ACCESSWIRE / March 4, 2024 / Forte Minerals Corp. ("Forte" or the "Company") (CSE:CUAU)(OTCQB:FOMNF)(Frankfurt:2OA
Alta Copper Announces Positive Metal Recoveries and Provides Project Update
https://www.accesswire.com/837661/alta-copper-announces-positive-metal-recoveries-and-provides-project-update
Thursday, 29 February 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / February 29, 2024 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU)
Palamina Preparing to Drill the Heart of 4.5 Km Long Orogenic Gold Trend at the Usicayos Gold Project
https://www.newsfilecorp.com/release/199847
February 29, 2024 8:30 AM EST | Source: Palamina Corp.
Toronto, Ontario--(Newsfile Corp. - February 29, 2024) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF)
Element 29 Receives Environmental Permit for Flor de Cobre Copper Project and Announces Partnership with GlobeTrotters on Exploration Activities
https://www.accesswire.com/838579/faraday-copper-announces-new-breccia-discovery-at-area-51-intersecting-129-copper-over-1136-meters-within-4575-meters-at-048-copper
March 01, 2024 5:04 PM EST | Source: Element 29 Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2024) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) ("Element 29" or the "Company") is pleased to announce that it has received environmental permit approval for exploration drilling at its wholly-owned Atravesado porphyry target on the Flor de Cobre copper project, located in southern Peru.
The permit, known as a Declaración de Impacto Ambiental ("DIA"), allows the Company to drill from a maximum of 40 drilling platforms. Following approval of the environmental permit, Element 29 requested approval from the Peruvian General Mining Bureau ("DGM") for the Authorization to Initiate Exploration Activities ("AIEA"), which is a normal course step that triggers Peruvian authorities to evaluate the effect of exploration activities on the local community. The outcome of this evaluation will establish whether there is a need for a prior consultation process ("Consulta Previa"). In parallel, the Company is negotiating a surface rights agreement with the local community. After completing these steps, the Company expects that Peruvian authorities will be able to issue approval of the AIEA.
Partnering with GlobeTrotters on Exploration
The Company plans to partner with GlobeTrotters Resource Group ("GlobeTrotters"), a private exploraton company focused on project generation in South America. GlobeTrotters has been actively exploring in Peru for more than 10 years and responsible for the initial discovery of the Company's flagship Elida porphyry Cu-Mo-Ag deposit and the Atravesado porphry Cu target at Flor de Cobre. The plans are to utilize GlobeTrotters' technical expertise in Peru to advance the Company's portfolio of highly prospective porphyry Cu projects and share operational resources to potentially significantly cut costs. The plans to partner with GlobeTrotters, the largest shareholder of the Company, complements the appointment of Manuel Montoya as Chief Technical Officer (see February 29, 2024 press release).
Richard Osmond, Chairman and CEO, commented, "The receipt of the Atravesado target DIA on our Flor de Cobre project is an important step towards drilling this highly prospective target. Our Peruvian team has worked diligently on both permitting and on gaining a better understanding of the Atravesado target. We anticipate receipt of the drill permit by Q3 2024."
Mr. Osmond continues, "The planned partnership with GlobeTrotters fits perfectly with our strategic plans to reduce corporate costs and focus our efforts as much as possible on advancing our portfolio of highly prospective Peruvian porphyry copper projects in one of the top mining jurisdictions globally."
Atravesado is a large porphyry Cu target on the 1,800 hectare ("ha") Flor de Cobre property (Figure 1) in the Southern Peru Copper Belt (Figure 2) that hosts some of the world's largest Cu mines and deposits. Outcrop samples anomalous in Cu and molybdenum ("Mo"), resistivity and chargeability anomalies, and corresponding geological indicators define the target with an area of approximately 1.5 km x 2.0 km. Mapping completed by the Element 29 geological team suggests Atravesado is part of a larger porphyry complex that extends to the Candelaria zone to the southeast. The core of the Atravesado target has not been tested by drilling (Figure 1 and Figure 3).
Candelaria Concessions
As part of the Company's option agreement renegotiation discussions with the underlying property vendor of the Candelaria concessions comprising a total of 127.12 ha, the Company's wholly-owned subsidiary Candelaria Resources S.A.C. has signed a non-binding letter of intent following the expiry of the previous 5-year option agreement entered in 2019. The Company will provide status updates on the new negotiations with the property vendor.
Figure 1: Map of the Flor de Cobre property, located in southern Peru. Atravesado is a large porphyry Cu-Mo exploration target associated with an increased density of quartz veinlets and late mineral porphyry dikes associated with a cluster of outcrop samples with anomalous Cu geochemistry. The target is also coincident with a high resistivity and moderate chargeability geophysical anomaly at a depth of 250 m thought to represent a leached potassic altered porphyry complex at depth. The location of two historical drill holes outside of the porphyry target area were completed by Anglo American in 2007. The blue dashed line is the location of the section shown in Figure 3 below. Concessions outlined in red are wholly owned by Element 29.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7414/200154_af030d60943ba9fe_001full.jpg
Figure 2: Regional setting of the Flor de Cobre Project in the Southern Peru Copper Belt, between Freeport McMoRan's Cerro Verde mining complex and Nexa Resources' Chapi mine. The project is at a moderate elevation of less than 2,700 m, is road accessible, and is close to excellent infrastructure for mine development and operation.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7414/200154_figure2.jpg
Figure 3: Cross section through geophysical line L3600N shows the results of the IP-Resistivity 2D inversion. The high resistivity anomaly in the center of the section is interpreted to represent the buried Atravesado porphyry complex. The high chargeability anomalies that straddle the high resistivity anomaly in the center of the section are interpreted to represent a pyritic halo associated with a flanking phyllic alteration zone. The low chargeability anomaly coincident with a moderately to low resistivity anomaly in the upper-central part of the section is interpreted to represent leached capping suggesting potential for enrichment at dept.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7414/200154_af030d60943ba9fe_003full.jpg
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Richard Osmond (P.Geo.), Element 29's Chairman and CEO, who is the "Qualified Person" as defined by National Instrument 43-101 Standards for Disclosure for Mineral Projects.
About Flor de Cobre
Flor de Cobre is a porphyry Cu exploration project that contains the recently outlined Atravesado porphyry Cu target 2.5 km northwest of the historical Candelaria mine. The property is in the Southern Peru Copper Belt and is 5 km northwest of Nexa Resources' Chapi mine and 26 km southeast of the Cerro Verde mine owned by Freeport-McMoRan, Sumitomo Metal Mining, and Compañía de Minas Buenaventura. Flor de Cobre hosts a classic Andean porphyry system with primary Cu sulphide mineralization associated with a multi-phase quartz monzonite porphyry complex. Weathering redistributed primary mineralization into a sub-horizontal enrichment blanket containing secondary Cu oxide and sulphide minerals at the base of a hematitic leached cap. Remnants of the upper jarositic component of the leached cap overlying the hematitic cap are preserved on the higher hill tops around the Candelaria prospect. An IP/Resistivity geophysical survey completed in 2019 outlined a core of moderate resistivity that coincides with widespread Cu oxide mineralization, strong Cu geochemistry, and late-stage quartz monzodiorite porphyry dikes. The resistive core is surrounded by a high-chargeability halo corresponding with weathered quartz-sericite-pyrite alteration.
About Element 29 Resources Inc.
Element 29 Resources Inc. is an emerging copper exploration and 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 develop its Flor de Cobre Porphyry Cu Project located in the Southern Peru Copper Belt, 26 km southeast from Freeport-McMoRan's Cerro Verde copper mine, and its Elida Porphyry Cu Deposit in west-central Peru. 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 additional information:
Richard Osmond, Chairman & CEO
1-888-246-7881
info@e29copper.com
The TSX Venture Exchange (the "TSX-V") has neither approved or disapproved the contents of this press release. 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"). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as "will", "intends", "proposed" and "expects" or similar expressions are intended to identify Forward-looking Statements. Forward-looking Statements in this press release include, but are not limited to, statements with respect to the Company's future plans, goals, expectations or strategies regarding the exploration and development of its resource properties, including advancing its portfolio of Peruvian copper projects; the Company's planned exploration of drilling targets and expected discovery of highly prospective porphyry Cu; approval of the AIEA from Peruvian authorities; the planned partnership with GlobeTrotters and the expected benefits thereof; and the Company's wholly-owned subsidiary entering into a binding option agreement with respect to the Candelaria concessions, if at all.
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 including uncertainties related to the Company's ability to raise sufficient capital for its operations on acceptable terms or at all, fluctuations in copper and other commodity prices, uncertainties inherent in the exploration of mineral properties, legislative, political or economic developments, including changes in Peruvian federal and/or provincial laws that may significantly affect the mining industry, the Company's wholly-owned subsidiary's ability to enter into a binding option agreement with respect to the Candelaria concessions on acceptable terms or at all, and other risk factors set forth in the Company's prospectus under the heading "Risk Factors".
Readers are further cautioned not to place undue reliance on Forward-looking Statements as there can be no assurances that the plans, intentions or expectations upon which they are placed will occur. The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Element 29 to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
SOURCE: Element 29 Resources Inc.
Buenaventura Announces Fourth Quarter and Full Year 2023 Results
https://ca.finance.yahoo.com/news/buenaventura-announces-fourth-quarter-full-041000363.html
Business Wire
Thu, February 29, 2024 at 8:10 p.m. PST·6 min read
BVN
+2.22%
LIMA, Peru, March 01, 2024--(BUSINESS WIRE)--Compañia de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM)
Peruvian Metals Acquires 50% Interest in San Maurizo Mines to Develop the Mercedes Gold-Silver-Zinc-Lead Project in Central Peru
https://www.newsfilecorp.com/release/199640
February 28, 2024 9:00 AM EST | Source: Peruvian Metals Corp.
Edmonton, Alberta--(Newsfile Corp. - February 28, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce the signing of a definitive agreement to acquire a 50% interest in San Maurizo Mines Inc. ("San Maurizo"), a private Manitoba-based company (the "Transaction"). This strategic collaboration paves the way for both entities to collectively develop the promising Mercedes gold-silver-lead-zinc-copper property ("Mercedes" or the "Property"), situated in central Peru.
Upon completion of the Transaction, San Maurizo will hold an exclusive 100% direct interest in the Property via its wholly owned Peruvian subsidiary, Basic Minerals SAC ("Basic Minerals"). Peruvian Metals is set to acquire a 50% stake in San Maurizo by purchasing half of the outstanding shares currently owned by its sole shareholder, Hudson Heartland Ltd. ("Hudson"). The project is subject to a 20% Net Profit Interest ("NPI") which will be eliminated once US$5 million has been paid to the NPI holder. Afterwards, a 1.5% Net Smelter Royalty ("NSR") will be paid to the NPI holder. San Maurizo retains the right to buyout the NSR for US$1.5 million.
The Property is situated in the Junin Department in central Peru and covers an area of 1,345 hectares. The Property is accessed via a well-maintained gravel road extending approximately 40 kilometers from the town of Concepcion. The region boasts excellent infrastructure, complemented by a nearby local airport. Concepcion is strategically positioned on the central highway, enhancing transportation connectivity to the area. Peruvian Metals' prospective Minas Maria Norte property is located approximately 140 kilometres south of Mercedes.
The Property has a history of extensive underground workings, featuring numerous horizontal drifts and vertical raises totaling over 1,000 meters. Dating back to the early 1980s, previous operators concentrated on three primary structures known as Victor 1, Victor 2, and the Kelly vein. Over 15 mineralized structures have been identified, intersecting Upper Cretaceous and Late Tertiary Sucllamachy granites. These structures, including the Victor and Kelly veins, run subparallel to a large U-shaped gully, providing convenient underground access via adit to the mineralized structures, thus enhancing the Property's overall prospectivity.
The initial exploration and development phase will focus on creating a 200-meter drift crosscut to access the Victor and Kelly veins, positioned 50 meters below the historical workings. Two samples taken from the main Victor 2 vein's underground workings yielded notable results, averaging 3.62 grams of gold per metric tonne, 7.43 ounces of silver per metric tonne, 1.66% lead, and 3.59% zinc. Moreover, three samples collected from various mineral sacks prepared by a group of local miners, ready for shipment to a nearby toll mill, exhibited higher averages of 8.16 grams of gold per metric tonne, 17.88 ounces of silver per metric tonne, 4.36% lead, and 4.38% zinc per metric tonne. Please note that the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Peruvian Metals has already actively supported Basic Minerals by facilitating the acquisition of permits for bulk sampling extraction and successfully securing access agreements with the local community. As the only title holder, Basic Minerals can and will nullify any rights granted to third parties for mineral extraction within the Property. Additionally, Basic Minerals is currently in negotiations to process the minerals from Mercedes at a local toll mill situated 12 kilometers away.
Terms of Acquisition
Peruvian Metals is set to acquire a 50% ownership stake in San Maurizo through the issuance of 2.5 million common shares to Hudson at a deemed issuance price of C$0.08 per common share. The Transaction establishes Peruvian Metals and Hudson as the exclusive shareholders of San Maurizo. In addition, both entities have formalized their collaboration through comprehensive shareholders' and operating agreements, outlining their joint commitment to explore and develop the Property. As part of the Transaction, Peruvian Metals will extend a US$250,000 loan to San Maurizo, mirroring the loan provided by Hudson. Up to the present date, Peruvian Metals has already contributed and loaned US$80,000 towards this collaborative venture.
San Maurizo will maintain its leadership under the guidance of CEO Eric Hinton, P. Eng, who also serves as the sole shareholder of Hudson. Mr. Hinton, a distinguished member of the Professional Engineers of Ontario, the Association of Professional Engineers and Geoscientists of the Province of Manitoba, and a Fellow of the Canadian Institute of Mining and Metallurgy, holds the designation of Qualified Person as per National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") guidelines. With over 35 years of extensive expertise in both underground and open-pit mining across Canada, the United States, Ghana, and Zimbabwe, Mr. Hinton brings a wealth of experience to the role. Meanwhile, Peruvian Metals will actively contribute to the project by providing essential services such as accounting, permitting, and geological expertise.
Jeffrey Reeder, the Chief Executive Officer of Peruvian Metals, states: "We are thrilled to embark on a collaborative journey with Hudson to explore and develop the promising Mercedes property. This site boasts numerous high-grade veins rich in precious and base metals, presenting excellent opportunities for exploration and bulk sampling. Aligning with our established business model, we aim to support small miners across Peru by providing essential resources such as capital, permitting assistance, and geological expertise. The permitting process for the Property is near completion, ensuring a smooth transition into both the exploration and development phase. This strategic partnership with San Maurizo is anticipated to yield substantial cash flow for both entities, with a notable reduction in administrative costs, further enhancing the economic viability of the venture."
Jeffrey Reeder, P. Geo, a qualified person as defined in NI 43-101, has prepared, supervised the preparation of or approved the scientific and technical disclosure contained in this news release.
The completion of the Transaction, including the issuance of common shares to Hudson, remains subject to certain regulatory approvals, including the approval of the TSX Venture Exchange.
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 sulphide 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.
Silver X Announces Upcoming Developments in the Plata Mining Unit in Addition to the Current Production
https://www.accesswire.com/836814/silver-x-announces-upcoming-developments-in-the-plata-mining-unit-in-addition-to-the-current-production
Tuesday, 27 February 2024 07:30 AM
Company's Next Brownfield Target at Nueva Recuperada
VANCOUVER, BC / ACCESSWIRE / February 27, 2024 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") reports its prioritization of the Plata Mining Unit (Plata) as its next brownfield renovation located within the Company's flagship Nueva Recuperada Silver District in central Peru. This renovation is in addition to the primary production at Nueva Recuperada.
A former producing area of the project with abundant veins that have been only lightly exploited, Plata has strong exploration potential to increase overall production and is strategically situated 10 km south of the Nueva Recuperada plant.
Previously under the management of Compañia de Minas Buenaventura SAA (BVN), Plata (formerly Esperanza) was the last historical operation to close in the district. In their latest Technical Report entitled "NI 43-101 Preliminary Economic Assessment, Nueva Recuperada Project, Huancavelica, Peru, 2022, prepared by LOM Consultants," Silver X reports an initial inferred resource at Plata of 448,812 tonnes, at grades of 220.81 g/t Ag, 2.55% Pb, and 4.58% Zn. This indicates a substantial amount of silver, lead, and zinc content, affirming the project's potential value.
Silver X believes that Plata has the potential to become a valuable asset within the district and that its higher grade (See NI 43-101) and abundance of veins could make Planta a premier silver target in the upcoming years. According to President and CEO Jose M. Garcia, "Silver X has diligently reconstructed the project's historical data, recovering 8,809 sample results from 6,583 underground sampling channels as well as additional sample and drilling information from 265 diamond drill holes over 33,391 meters. The Plata unit development and potential expansion could significantly impact Silver X's growth, contributing to the company's goal of becoming a premier silver company," he added.
See Map 1 for location in Peru.
Map 1.
About Silver X Mining
Silver X is a Canadian silver mining company with assets in Peru. The Company's flagship asset is the Tangana silver, gold, lead, zinc, and copper project located in Huancavelica, Peru, 10 km north-northwest of the Nueva Recuperada polymetallic concentrate plant. Founders and management have a successful track record of increasing shareholder value. For more information visit our website at www.silverxmining.com.
Qualified Person
Mr. A. David Heyl, B.Sc., C.P.G who is a qualified person under NI 43-101, has reviewed and approved the technical content of this news release for Silver X. Mr. A. David Heyl is a consultant for Silver X.
ON BEHALF OF THE BOARD
José M. García
President, CEO and Director
For further information, please contact:
Investor Relations
ir@silverxmining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation ("forward-looking information"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information contained in this press release may include, without limitation, exploration plans, results of operations, expected performance at the Project, the ability of the new zones at the Project to feed production at the Company's Nueva Recuperada Plant in the near term, the exploration potential of the Plata Mining Unit, expectations regarding mineral resources on the Plata Mining Unit, that the Company will be able to mine the Plata Mining Unit in an economic manner, and the expected financial performance of the Company.
The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving price for the commodities we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations at the Project and Nueva Recuperada Plant; the availability of financing for operations and development; the Company's ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; exploration results at the Plata Mining Unit will be consistent with historical results, that the estimates of the resources at the Project and the geological, operational and price assumptions on which these and the Company's operations are based are within reasonable bounds of accuracy (including with respect to size, grade and recovery); the Company's ability to attract and retain skilled personnel and directors; and the ability of management to execute strategic goals.
Forward-looking information is 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, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the Company's annual and interim MD&As and in its public documents filed on www.sedar.com from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Cautionary Note regarding Production without Mineral Reserves
The decision to commence production at the Nueva Recuperada Project and the Company's ongoing mining operations as referenced herein (the "Production Decision and Operations") are based on economic models prepared by the Company in conjunction with management's knowledge of the property and the existing estimate of inferred mineral resources on the property. The Production Decision and Operations are not based on a preliminary economic assessment, a pre-feasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with the Production Decision and Operations, in particular: the risk that mineral grades will be lower than expected; the risk that additional construction or ongoing mining operations are more difficult or more expensive than expected; and production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with NI 43-101.
SOURCE: Silver X Mining Corp.
Tinka Reports Updated PEA and Mineral Resource Estimate for the Ayawilca Polymetallic Zinc-Tin-Silver Deposit
https://www.accesswire.com/837253/tinka-reports-updated-pea-and-mineral-resource-estimate-for-the-ayawilca-polymetallic-zinc-tin-silver-deposit
Wednesday, 28 February 2024 06:30 AM
VANCOUVER, BC / ACCESSWIRE / February 28, 2024 / Tinka Resources Limited ("Tinka" or the "Company") (TSXV:TK)(BVL:TK)(OTCQB:TKRFF)
Sierra Metals Obtains Key Operating Permit for Yauricocha Mine in Peru
https://ca.finance.yahoo.com/news/sierra-metals-obtains-key-operating-164000139.html
Business Wire
Wed, February 21, 2024 at 8:40 a.m. PST·4 min read
SMTSF
-4.95%
Permit to operate below the 1120 Level is expected to increase throughput, reduce costs, extend mine life, and support overall growth strategy
TORONTO, February 21, 2024--(BUSINESS WIRE)--Sierra Metals Inc. (TSX:SMT; OTCQX:SMTSF) ("Sierra Metals" or the "Company") is pleased to announce that it has received the required permit to develop and mine below the 1120 level at its Yauricocha Mine ("Yauricocha") in Peru.
Ernesto Balarezo, Sierra Metals’ CEO, stated, "We are very excited to have received the environmental permit to mine below the 1120 level at our Yauricocha Mine. As I have stated before, this permit is a game changer for Yauricocha and a key pillar to support the overall growth strategy for Sierra Metals."
"The ore body below the 1120 level is vast and is expected to allow us to raise throughput rates back to full mill capacity of 3,600 tons per day, representing an increase of approximately 40% from current levels; lower operating costs given higher production volumes and less expensive mining methods; and secure Yauricocha’s long-term potential," added Mr. Balarezo.
The granting of the 1120 level permit has the potential to provide several significant catalysts for Sierra Metals, such as operational enhancements, maximized operating capacity and cost efficiencies. Most notably, with a modest capital investment in mining operations, the development below the 1120 level is expected to commence in the following weeks. Ramp up to full production levels will be progressive and is expected to take between six and nine months to achieve.
Qualified Person
Ricardo Salazar Milla (AIG #8551), Corporate Manager – Mineral Resources, is a Qualified Person as defined in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Salazar has reviewed and approved the scientific and technical content of this news release.
About Sierra Metals
Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.
Forward Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra Metals and reflects management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action including the accuracy of the Company's current mineral resource estimates, that the Company's activities will be conducted in accordance with the Company's public statements and stated goals, and that there will be no material adverse change affecting the Company, its properties or its production estimates, the expected trends in mineral prices, inflation and currency exchange rates, that all required approvals will be obtained for the Company's business operations on acceptable terms, mining methods to be used, capital requirements to commence development below the 1120 level, steps required to ramp up production levels below the 1120 level and that there will be no significant disruptions affecting the Company's operations. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. Forward-looking statements include statements with respect to increasing throughput rates, lowering operating costs, maximizing Yauricocha’s life of mine potential, results of a modest capital investment in mining operations and length of time to ramp up to full production levels. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra Metals to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 28, 2023 for its fiscal year ended December 31, 2022 and other risks identified in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240221919252/en/
Contacts
For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:
Investor Relations
Sierra Metals Inc.
Tel: +1 (866) 721-7437
Email: info@sierrametals.com
Condor Reports Results from its Maiden Pucamayo Drill Program
https://www.accesswire.com/833337/condor-reports-results-from-its-maiden-pucamayo-drill-program
Tuesday, 13 February 2024 06:30
VANCOUVER, BC / ACCESSWIRE / February 13, 2024 / Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN
Element79 Gold Reports Additional High-Grade Results from Pillune, Sando Alcalde regions of Lucero Project.
https://thenewswire.com/press-releases/1BglF2X3e-element79-gold-reports-additional-high-grade-results-from-pillune-sando-alcalde-regions-of-lucero-project.html
Vancouver, BC – TheNewswire - February 13, 2024 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS0)
Inca One Reports the Highest Level of Monthly Processing in 2023
https://www.newsfilecorp.com/release/197245
February 08, 2024 5:30 AM EST | Source: Inca One Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92)
DLP Resources Confirms Extension of Copper, Silver and Molybdenum Mineralization to NE of Aurora Drilling with Values of up to 2.25% Cu and 195g/t Ag and 182ppm Mo in Rock Samples
https://www.newsfilecorp.com/release/197211
February 08, 2024 6:00 AM EST | Source: DLP Resources Inc.
Cranbrook, British Columbia--(Newsfile Corp. - February 8, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF)
SILVER MOUNTAIN DOUBLED CONTAINED SILVER CONTENT WITH HIGHER GRADE AND INCREASED TONNAGE IN THE MEASURED AND INDICATED CATEGORIES IN UPDATED MINERAL RESOURCE ESTIMATE AT ITS RELIQUIAS PROJECT, PERU
https://www.newswire.ca/news-releases/silver-mountain-doubled-contained-silver-content-with-higher-grade-and-increased-tonnage-in-the-measured-and-indicated-categories-in-updated-mineral-resource-estimate-at-its-reliquias-project-peru-834191171.html
Silver Mountain Resources Inc. Feb 07, 2024, 07:00 ET
Key Highlights – Updated mineral resource estimate
Silver-equivalent ounces in Measured and Indicated categories increased by 100%
Silver-equivalent grade and tonnage in Measured and Indicated categories increased by 34% and 48%, respectively
Updated mineral resource estimate positions Reliquas project for PEA completion in Q1 2024
Measured and Indicated resource estimate of 1.275 Mt @ 4.34 oz/t Ag, 0.42 g/t Au, 3.14% Zn, 2.06% Pb, and 0.33% Cu
Additional Inferred resource estimate of 1.706 Mt @ 4.07 oz/t Ag, 0.43 g/t Au, 2.96% Zn, 1.84% Pb, and 0.28% Cu
TORONTO, Feb. 7, 2024 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or "the Company") (TSXV: AGMR) (OTCQB: AGMRF)
Element79 Gold Reports Multiple High Grade Results from Pillune Area, Lucero Project, Arequipa, Peru
https://thenewswire.com/press-releases/1AqRFGVEq-element79-gold-reports-multiple-high-grade-results-from-pillune-area-lucero-project-arequipa-peru.html
Vancouver, BC – TheNewswire - February 6, 2024 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS0)
Aftermath Silver Identifies Porphyry and Skarn Targets at Berenguela Ag-Cu-Mn Project
https://www.newsfilecorp.com/release/196446
February 01, 2024 8:30 AM EST | Source: Aftermath Silver Ltd.
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) (the "Company" or "Aftermath Silver") is pleased to provide an update on target generation work underway at the Berenguela Ag-Cu-Mn project in southern Peru. The technical team has been reviewing historic field work carried out by previous operators of the project including Rio Tinto (RTZ).
Metallurgical test work is also underway on silver-copper-manganese mineralization and Aftermath anticipates reporting on this work in February.
Based on a review of historic geophysical data, Aftermath believes that there is potential for bulk-tonnage porphyry and/or skarn-hosted copper mineralisation approximately 4km to the southwest of the Berenguela Ag-Cu-Mn project. Work is ongoing to further define the targets. Aftermath will also be following up on Hole BED 006, drilled by Silver Standard in 2015 on the northeast corner of the current resource (see Aftermath news release dated March 2, 2023), which returned 123 metres of 1.17% copper, partly associated with brecciated dioritic intrusives (see Figure 1 for location).
Geochemical Program and Ground Magnetic Survey
In 2018, Valor Resources Ltd ("Valor") completed a systematic geochemical rock-chip sampling program on a sample spacing of roughly 50m in the southwest of the Berenguela concessions; 198 samples were collected. This program was limited to the west and south by the edge of the Berenguela land package, and to the east by lack of outcrop. There was no evidence of outcropping mineralization to the north and no sampling was carried out there. A location map and Figures 1 & 2 showing the geochemical and geophysical data are available here and are also attached to the bottom of this release.
The geochemistry defines a broad northwest-southeast linear trending copper-in-rock-sample anomaly, roughly 1km long returning assays from trace to a maximum of 10.9% Cu in rock chips (see Fig. 1 & 2). The results include 22 samples grading in excess of 1% copper. There was a general correlation between Cu, Ag, and Mn but little geochemical response was observed from the gold assays. At the northwest end of the anomalous copper trend, outside of Aftermath's concessions, an active mine exploits magnetite hosted in altered limestones of the Ayavacas Formation.
Previous historic geochemical soil sampling programs completed in 2009, 2010 and 2015 have been noted on maps of the area but Aftermath is not currently in possession of the results.
Aftermath geologists have confirmed that the northern part of the copper anomaly is located principally in brecciated diorites of probable Tacaza Group age that intrude Cretaceous dolomitic limestones of the Ayavacas Formation, which also hosts the Berenguela resource. Several old workings show copper mineralization (malachite and neotocite Cu oxides) and Mn oxides related to cross-cutting multi-stage quartz veinlets. Altered dolomitic limestones also show Cu and Mn mineralization. Some skarn float was observed to the east. Photos of hand specimens collected from the area have been posted online here and are also included below.
The geochemical results are historical in nature. Aftermath has not yet undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. However, Aftermath considers these historical sampling results relevant, and the Company will use this data as a guide to plan future exploration programs. The historic analyses were undertaken at SGS Laboratories in Lima via Inductively Coupled Plasma - Optical Emission Spectroscopy (ICP-OES). As part of the QA/QC control Valor inserted 4 standard samples (CDN-HZ-2, CDN-ME-4 and CDN-ME-12), 3 blank samples, and two duplicates. Gold analysis was performed by fire assay at SGS. SGS's facility in Lima is a fully accredited laboratory and Aftermath believes the analytical results are reliable. The exploration results are linked here. The hand sample photos shown below are for demonstration purposes only and the visual presence of minerals is noted without any grade implied.
Geophysics
The Company recently obtained the results of a comprehensive ground magnetic survey carried out by Rio Tinto (RTZ) in 2019 under the terms of a joint venture with the previous operator, Valor. The survey covers the southern portion of the Berenguela land package and complemented a ground magnetic survey carried out in 2009. RTZ's geophysical contractors created a Magnetic Vector Inversion model (MVI) using Geosoft VOXI software.
Aftermath has reviewed the MVI model and extracted the Amplitude, Induced, and Remanent components of this inversion. The Induced and Remnant components appear to have identified 2 potential buried intrusive centres in the south and southwest of the Berenguela land (see Fig. 2). The southwest centre is roughly coincident with the geochemical trend outlined above and appears to be related to the eastern flank of the Limon Verde monzogabbro -dated at 30Ma- which intrudes into the Ayavacas limestones. The Induced component of the magnetic signature suggests the presence of magnetite as an alteration mineral in the intrusives or flanking intruded rocks, whilst the Remnant component suggests the potential alteration of the intruded rocks.
Historic Drilling
Three diamond drill holes were drilled in 2010 by previous operators in the southwest area: BER-G-15, BER-J-14, and BER-F-13. Only BER-J-14 returned 1.48% Cu and 196g/t Ag over 4.0m from 6.5 to 10.5m. The drilling is not considered to have tested the area fully as the holes were positioned marginal to the main copper anomalies identified in 2018. North-south drilling directions carried out were also not conducive to testing any potential mineralisation to the west.
NB: these drill results are historic in nature and Aftermath has not carried out sufficient work yet to confirm them. However, the assays were performed on behalf of Silver Standard by SGS Lima, an internationally accredited lab. The data has been reviewed in detail by Aftermath's technical team and is believed to be of sufficiently good quality to allow aftermath to design a second phase of exploration utilizing the data.
Target Definition Results
Aftermath intends to expand the geochemical exploration using soil sampling to the north-east in an area of mixed outcrop and cover. Orientation surveys will be carried out over the area of rock chip sampling, combined with detailed geological mapping. There is potential to carry out an IP survey orientated in an E-W direction to detect the presence of subsurface accumulations of sulphides which would lead to the generation of drill targets.
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 NI 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.sedar.com.
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.
Location Map for Figures 1 and 2 (below)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4372/196446_8017c2b8847aa82b_001full.jpg
Figure 1. Historical magnetometry and geochemistry data
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4372/196446_8017c2b8847aa82b_002full.jpg
Figure 2. Southwest area, rock geochemistry results (Cu %)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4372/196446_8017c2b8847aa82b_003full.jpg
Photo 1. Brecciated, silicified diorite with quartz veining and associated Cu-oxide mineralization. Mn oxides occur in the rock matrix.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4372/196446_8017c2b8847aa82b_004full.jpg
Photo 2. Altered limestone showing Cu and Mn oxides present as veins and patches.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4372/196446_8017c2b8847aa82b_005full.jpg
Photo 3. Skarn float with quartz veining.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4372/196446_8017c2b8847aa82b_006full.jpg
SOURCE: Aftermath Silver Ltd.
Followers
|
18
|
Posters
|
|
Posts (Today)
|
2
|
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: |