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Banyan Announces Commencement of ZTEM Airborne Geophysical Survey, AurMac and Nitra Projects, Yukon
https://ca.finance.yahoo.com/news/banyan-announces-commencement-ztem-airborne-100000815.html
Banyan Gold Corp.
Tue, October 1, 2024 at 3:00 a.m. PDT·5 min read
BYAGF
0.00%
VANCOUVER, BC / ACCESSWIRE / October 1, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN)(OTCQB:BYAGF)
Yukon Metals Samples Bonanza Grade Gold, up to 3 oz/ton, and up to 57 oz/ton Silver from Multiple Areas at Star River
https://ca.finance.yahoo.com/news/yukon-metals-samples-bonanza-grade-130000206.html
Yukon Metals Corp.
Tue, October 1, 2024 at 6:00 a.m. PDT·14 min read
YMMCF
0.00%
VANCOUVER, British Columbia, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Yukon Metals Corp. (CSE: YMC, FSE: E770, OTC: YMMCF
Prospector Expands High-Grade Ag-Pb-Zn Potential at the ML Project: Lorrie Lake Zone Extended over 1km in Length with Assays up to 2,049 g/t Ag, 34.26% Pb, and 5.08% Zn
https://www.newsfilecorp.com/release/225131
October 01, 2024 7:15 AM EDT | Source: Prospector Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to report assay results from the 2024 exploration program at the ML Project located approximately 80 km from Dawson City, Yukon Territory.
During the 4-week program, a total of 520 rock grab and chip samples were collected across the property to establish the extent of the surface expression of known zones as well as sample new areas with unknown mineral potential. All assays have now been received. The contents of this news release are focused on Ag-Pb-Zn targets.
Key Point Summary
New surface discoveries in the Lorrie Lake area greatly expand the high-grade Ag-Pb-Zn footprint at ML.
Lorrie Lake Area yielded up to 2049, 556, and 296 g/t Ag, 34.26 and 33.27% Pb and 5.08% Zn from massive sulfide veins hosted within argillites on the southern boundary of the Lorrie Lake intrusive. The known Ag-Pb-Zn mineralised area is potentially two zones and extends up to approximately 1 km.
18 grab samples assaying above 100 g/t Ag were found across numerous areas.
The high-grade Ag-Pb-Zn anomalies likely represent the transition from intrusion-hosted to distal structurally-controlled mineralization, contact zone metal enrichment and/or skarn development which provide evidence of a large mineralised system at ML.
A map with new assay results and the broad structural corridor at the ML Project is located here.
These new Ag-Pb-Zn assays augment previously released high-grade gold results which yielded several new surface discoveries such as the Vary Zone (up to 79.96g/t Au) and the Russer Zone (up to 16.22g/t Au) (see Company news releases dated August 15, 2024 and September 16, 2024) 1. The Lorrie Lake Ag-Pb-Zn Zone occurs less than 800 metres from high priority gold targets yet, represents a separate and spatially distinct target.
"The high-grade Ag-Pb-Zn footprint at ML represents a considerable value add at ML," stated Prospector CEO Rob Carpenter. "Not only do the high-grade Ag-Pb-Zn zones in the gold system at ML indicate the presence of a larger mineralized system, the distribution of Ag-Pb-Zn mineralization can provide valuable information about the zoning of the deposit, which can guide further exploration efforts."
1 Best surface samples" are grab / select samples and not necessarily representative of mineralization hosted on the property.
2024 ML Field Program
The 2024 field program on the ML property encompassed:
520 rock grab and chip samples and initial geologic and structural mapping.
high-resolution LiDAR:
WorldView-3 remote sensing survey: Processing underway
Samples from the three known intrusive centers have been submitted for whole rock analysis and age dating.
The work was completed to assess multiple known historic prospects across the property, including previously underexplored intrusion hosted targets, to gain an understanding of key structural and lithologic controls on mineralization with a goal of defining future drill targets. Based on the work, the Company noted a series of steeply dipping NNE trending and E-W trending structural corridors that transect the property and appear to be a primary control on mineralization in all rock types.
All assays have been received and returned results from below detection to 2049 g/t Ag, 34.28% Pb, and 11% Zn.
Lorrie Lake Zone
Silver and base metal mineralization at Lorrie Lake is associated with at least two zones of massive sulfide mineralization consisting of banded pyrrhotite, jamesonite, sphalerite, galena, and chalcopyrite hosted within hornfelsed argillites along the southern margin of the Lorrie Lake stock. The zones appear to be structurally controlled along steeply dipping, ENE trending, structures and have been traced for approximately 1km in outcrop and talus float. Individual samples returned from trace to 2049 g/t Ag, to 34.26% Pb, and to 5.08% Zn, with nine samples returning >100 g/t Ag.
Vary Zone – Newly Identified
Two samples from the Vary Zone returned values of 125 g/t Ag and 364 g/t Ag and are associated with highly elevated Cu (up to 1.43%) and Pb (up to 1.9%). The mineralization is hosted within quartz-carbonate veins with disseminated, coarse grained, chalcopyrite and galena, cutting hornfelsed to calc-silicate altered metasediment units along the southern margin of the Mike Lake Stock.
Rubble & Cirque Areas
Localised massive sulfide boulders with coarse arsenopyrite-chalcopyrite in the Rubble and Cirque target areas also returned silver values of 129 g/t Ag and 302 g/t Ag and are associated with highly elevated copper values of 8.39% and 10.4%; respectively. An additional six samples from the areas returned >30 g/t Ag and are associated with quartz-tourmaline-sulfide veins that are coincident with previously reported gold +/- copper mineralization in the areas.
RP Area
Two samples from the RP area on the NE margin of the Lorrie Lake stock returned values > 100g/t Ag. Both consisted of massive sulfide boulders with coarse grained pyrrhotite, arsenopyrite, sphalerite, galena, and chalcopyrite and returned 352 g/t Ag, 10.52% Pb, & 11% Zn and 134 g/t Ag, 4.83% Pb, & 11% Zn. The mineralization is similar to that observed at the adjacent Lorrie Lake target and may represent additional, unrecognized, massive sulifide horizons in the cliffs above the RP area.
SE Area
One sample of a strongly oxidized (hematite-geothite) massive sulfide boulder returned 475 g/t Ag and 3.02% Pb with strongly anomalous As, Cu, Sb, and W.
Figure 1. Silver, Lead, and Zinc assay results grab and chip samples at the ML Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1564/225131_2bd6055744c3e971_002full.jpg
ML Project Overview
Historical exploration of the ML Project has outlined numerous areas of interest that are loosely defined by a combination of geographic location, host lithology, mineralization type, geochemical signature and/or geophysical response (Figure 1), including intrusion hosted gold (+copper) style, replacement-skarn style, and high-grade vein targets. In addition, there are multiple relatively unexplored mineral occurrences, many of which are high grade gold targets. A total of 117 diamond drill holes have been drilled property wide, testing six property targets. From 2005 to 2008, Dynamite Resources drilled 114 of these holes, with 23 holes at the North Vein Zone (a gold enriched skarn-replacement target) and 71 holes at Skarn Ridge (a gold - copper skarn-replacement target).
The Property hosts numerous other targets of interest which have a variety of intriguing characteristics, such as high-grade rock-soil samples, highly anomalous trench samples, unique geophysical signatures, and large areas of alteration. Additionally, there remain large parts of the property that have received little or no exploration and evaluation. Several of the lesser-known mineralized areas have undergone only cursory assessment by previous operators, thus present very attractive targets.
The property has an impressive technical data base which includes property wide airborne geophysics, satellite imagery, extensive soil and rock sampling, prospecting, selective ground geophysics, and diamond drilling (+16,700m over 117 holes). Most of this exploration took place from 2004 to 2008, a period when most drilling was focussed on two specific skarn/replacement type targets: Skarn Ridge (71 drillholes) and North Vein (23 drillholes).
Assay Methodology & QA/QC
The analytical work on the ML project was performed by MSALABS, an internationally recognized analytical services provider, located in Langley, British Columbia. All rock samples were prepared using procedure PRP-910 (Dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-221 (50g fire assay with AAS finish) and IMS-230 (0.25g, 4-acid digest and ICP-MS analysis). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn were reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis).
The reported work was completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no QA/QC issues.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, P.Geo. Advisor to Prospector, and a Qualified Person as defined under National Instrument NI 43-101 ("NI 43-101").
About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of Discovery Group. The Company is focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada – Tier-1 mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Prospector at 1-778-819-5520 or by email at info@prospectormetalscorp.com
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances necessary to carry out the Company's exploration plans and risks of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Prospector Metals Corp.
White Gold Encounters Gold in Encouraging Host Rocks of Altered and Mineralized Intrusives in Surface Rock Sampling over 1.25km on the Newly Discovered 2.2km Chris Creek Target on the QV Property
https://ca.finance.yahoo.com/news/white-gold-corp-encounters-gold-110000216.html
White Gold Corp.
Thu, September 26, 2024 at 4:00 a.m. PDT·13 min read
KGC
+1.13%
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0.00%
WHGOF
+0.51%
AEM
-0.02%
Figure 1 - QV Property Location Map
Figure 1 - QV Property Location Map
Figure 2 - Chris Creek 2024 Rock Sampling and Drilling Region
Figure 2 - Chris Creek 2024 Rock Sampling and Drilling Region
Figure 3 - Chris Creek Trend Soil Anomaly (Au, Mo, Hg, Te, Sb, As)
Figure 3 - Chris Creek Trend Soil Anomaly (Au, Mo, Hg, Te, Sb, As)
Figure 4 - QV Property Overview
Figure 4 - QV Property Overview
Figure 5 - ChrisCreek-VG-GS Comparison
Figure 5 - ChrisCreek-VG-GS Comparison
TORONTO, Sept. 26, 2024 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company”) is pleased to announce that surface rock sampling has encountered gold with associated anomalous silver and tellurium in altered and mineralized intrusive rocks over a 1.25 km section of the 2.2 km Chris Creek target, a recently discovered gold-in-soil anomaly on its QV property. The Chris Creek target is located approximately 9 km northwest of the VG deposit and appears to be similar in character to the VG and Golden Saddle deposits which form part of the Company’s flagship White Gold Project (Figure 1). The White Gold Project is located in west-central Yukon, Canada, and comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the Inferred Resource category (1). These new results form part of the Company’s 2024 exploration program on its extensive and underexplored land package in the emerging White Gold District, Yukon, supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).
“These gold in rock sample results over such a long distance further support the Chris Creek target as an exciting new target on our QV property and another example on the effectiveness of our data-driven exploration protocol to be able to discover a target and quickly advance to maiden diamond drilling. This large target in such close proximity to our flagship deposit remains open for expansion with the highest gold-in-soil values to date encountered right on the western edge. It also forms part of a larger 5.2km mineralized trend which hosts other interesting targets that have seen minimal exploration and no drilling to date. We look forward to continuing to advance this underexplored and prospective area and to further demonstrate the expansiveness of gold mineralization within our district-scale land package in a tier 1 mining jurisdiction,” stated David D’Onofrio, CEO.
Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights
The surface expression of the Chris Creek gold-in-soil anomaly strikes east-northeast, measures 350 m wide x 2.2 km long (see Company Press Release dated August 1, 2024), and is open along strike to the west and to the east and includes some of the highest gold in soil values encountered to date.
The anomaly displays clear multi-element geochemical zonation, with gold (Au), tellurium (Te), and silver (Ag).
Gold within favourably altered and mineralized intrusive rocks was encountered in multiple samples along the Chris Creek target.
All surface rock samples returned anomalous gold including up to 1.06 and 1.09 g/t Au over a 1.25 km section of the gold-in-soil anomaly.
Rock samples collected suggest strong continuity of the Chris Creek soil anomaly which appears to be underlain by a broad, gold bearing variably altered, brittle fractured, silica flooded monzogranite.
The Chris Creek target forms part of a larger property-scale mineralized system on the QV property which measures 5.2km in strike, with multiple other prospective targets which have not been drill tested.
A maiden diamond drilling program at the target has been executed, testing an approximately 400 m strike length of the target with results to be released in due course.
2024 Exploration Program
Exploration work completed on the Chris Creek target in 2024 (Figure 2) included 787 infill and extension soil samples, 5 lines of VLF-EM surveying totalling 6.35-line km plus 2D inversions, 14 rock samples, and maiden diamond drilling.
Results of the soil sampling and VLF-EM surveys were previously announced on August 1, 2024. Gold-In-soil values range from < 0.5 ppb Au to a maximum of 600 ppb Au, with 29 samples returning greater than 80 ppb Au (approximately 99th percentile) in the range of 82.3 to 600 ppb Au which represents some of the highest gold values to date (Figure 3). The anomaly also has associated anomalous silver and tellurium. Arsenic in soil values is low, and overall, the signature appears to be similar to the VG and Golden Saddle deposits suggesting a similar style of mineralization. The surface expression of the gold-in-soil anomaly strikes east-northeast, measures 350 m wide x 2.2 km long, and is open along strike to the west and east towards the Company’s Diego and Tetra targets (Figure 4).
Magnetic data reveals that the newly identified soil anomaly is situated near a mafic belt with a NNW-SSE orientation, similar to the structural context of the VG, Golden Saddle, and Ryan’s Surprise deposits located along strike approximately 9 to 19 km to the SE and SSE. The highly magnetic mafic belts are observed to occupy the hanging wall of E- to ENE-dipping, district-scale thrust faults, with gold mineralization at the VG, Golden Saddle, and Ryan’s Surprise deposits occurring where intersected by significant NE- or NW-trending faults. At the newly identified soil anomaly, anomalous gold is localized at a fault intersection of a similar structural and magnetic pattern to those of the mentioned deposits and is associated with a semi-circular magnetic high approximately 1 km in diameter.
2D inversions of recently completed VLF-EM survey lines over the target indicate the gold-in-soil anomaly is associated with a moderately north-dipping hanging wall – footwall contact zone.
A total of 14 rock samples were collected along a 1.25 km length of the gold-in-soil anomaly. Samples were collected at various depths up to 1 m from hand dug pits and representative composite samples were submitted for analysis. The sampling demonstrated the presence of gold with associated silver and tellurium in rock samples directly overlying the Chris Creek target. Of the 14 samples collected, all samples returned anomalous gold values with including 2 samples that returned 1.06 and 1.09 g/t Au, 1 sample returned 0.46 g/t Au, 5 samples returned between 0.1 to 0.2 g/t Au, and up to 13.66 g/t Ag including 3.318 g/t Ag, and 2.99 g/t Ag. The continuity of rock samples and gold-in-soil values collected suggest the presence of a large mineralized system at the target that remains open and unexplored.
A maiden diamond drill program was recently executed testing an approximately 400 m strike length of the target. All holes were drilled to the south (160°-180° azimuth) at dips ranging from -50° to -75°, with hole ranging from 95.0 to 251.0 m. Drilling assay results are pending and will be announced in due course.
Chris Creek Target
The Chris Creek target represents a prospective new target within White Gold Corp’s portfolio, located approximately 9 km northwest of the VG deposit. 2024 soil geochemical sampling at the target returned values as high as 600 ppb Au, including 418.6 ppb Au, 244.6 ppb Au, 237.3 ppb Au, 218.1 ppb Au, and 200.6 ppb Au. These results further define the core of the anomaly and expand the gold-in-soil trend eastward toward the Diego trend. This connection forms an overall gold trend measuring roughly 2.7 km along strike and up to 250 m in width.
The geological features of Chris Creek closely resemble those of the Golden Saddle and VG deposits (Figure 5), all of which remain open for expansion. At Golden Saddle and VG, gold is hosted within brittle-ductile fault zones, quartz vein breccias, and stockwork veining, similar to the structures seen at Chris Creek. Initial rock sampling results suggest Chris Creek shares many of the same features as the Golden Saddle and VG deposits. The strong similarities between Chris Creek, which remains underexplored and open for expansion, and the established Golden Saddle and VG deposits, represent substantial potential for future discoveries within the Chris Creek system. With multiple mineralization styles (Au-Te-Ag, As-Sb, Mo-bearing quartz-carbonate veins, and skarn) across a large structural corridor, there is significant opportunity for continued geophysical surveys, trenching, and drilling to further define and expand the mineralized zones.
QV Property Prospectivity
The QV property comprises 1003 quartz claims which over an area of 19,671 hectares and hosts the VG deposit, which hosts an open pittable Inferred resource of 287,100 oz gold at 1.53 g/t(1) and forms part of the Company’s flagship White Gold Project. The mineralization is hosted along a N-E trending, gently south dipping structural zone that has been traced for over 700 m at surface and consists of disseminated to vein-controlled pyrite with brecciation, stockwork quartz-carbonate veining, and sericite alteration. The VG shares strong similarities to the Golden Saddle deposit located 11 km south of the VG deposit on the White Gold property both in structural setting as well as mineralization style and is open along strike and at depth.
The presently defined Chris Creek target sits in the western region of a broader trend (The Chris Creek Trend) that extends 5.2 km east-northeast, beginning at Chris Creek and passing through the Diego target towards the Tetra target. Claims to the east of Diego target were strategically staked in 2023 due to its representation as a continuation and extension of the Chris Creek and Diego anomalies, providing continuity of the trend to the Company. The geochemical anomaly at Tetra is primarily Mo-Au and is bisected by a major west-northwest trending magnetic low, which runs subparallel to a large, mapped occurrence of early Jurassic-aged Long Lake Suite granodioritic intrusives. The entire trend follows a major fault identified through Lidar and is highlighted by anomalous mercury (Hg) along its length.
In addition to targets situated along the Chris Creek trend, the property also hosts several other prospective targets which have received limited exploration work and offer potential for additional discoveries including the Stewart and Shadow targets which have seen limited exploration and no drilling to date. The Stewart target occurs adjacent to a Jurassic intrusive is located 5km N-NW of the VG deposit and consists of a 1.5km E-W trending gold in soil anomaly, with values from trace to 274.1 ppb Au and anomalous Bi-Ag-Te-Mo. The Shadow target is located 12 km north of the VG zone and consists of multiple gold in soil anomalies, ranging from trace to 514ppb Au and is 2.7km long with association to a series of NW and ENE trending structures and strongly anomalous Ag-Pb-Bi+/-As+/-Mo. The Tetra target occurs on the Chris Creek Trend, along an interpreted E-W oriented fault and is located 8km N of the VG, consists of a 1.5km E-W trending gold in soil anomaly with values from trace to 151.5 ppb Au and remains is open and unexplored to the west.
Rock Sampling Methods and Analysis
The 2024 Chris Creek rock sampling program involved digging hand pits above previously collected soil samples. Holes were dug in 20-40 cm increments, and the dirt sieved to collect rock fragments, retaining only those larger than 5 cm diameter. Selected rocks were placed in pre-labeled poly sample bags, indicating the soil sample station ID and depth fraction, and returned to Thistle Camp at the end of the day. At camp, rocks from each depth were washed, and sufficiently large samples were cut with a saw to expose fresh surfaces. An onsite geologist logged the rocks, noting consistent types and alterations across depth partitions. A representative composite sample was collected from each station for analysis.
Analysis work for the 2024 rock sampling program was performed by Bureau Veritas, an internationally recognized analytical services provider at its South Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon facility. All samples were prepared using the PRP70-250 package, where samples were weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Samples were then analyzed in accordance with BV’s FA430 and MA250 packages, for both gold analysis by fire assay (30g fire assay with AAS finish) and ultra-trace multi-element ICP analysis (0.25 g, 4 acid digestion and ICP-MS analysis).
About White Gold Corp.
The Company owns a portfolio of 15,876 quartz claims across 26 properties covering approximately 315,000 hectares (3,150 km2) representing approximately 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources(1). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.1 Moz at 1.28 g/t gold and Inferred Resources of 0.2 Moz at 1.04 g/t gold(2), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 7.6 Blb copper and 14.5 Moz gold and Inferred Resources of 3.3 Blb copper and 6.6 Moz gold(3). For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled “2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, Effective Date April 15, 2023, Report Date May 30, 2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, P.Geo., available on SEDAR+.
(2) See Newmont Corporation Form 10-K: Annual report for the year ending December 31, 2023, in the Measured, Indicated, and Inferred Resources section, dated February 29, 2024, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston, P.Geo., available on SEDAR+.
Qualified Person
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:
The expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading “Risks Factors” in the Company’s annual information form dated July 29, 2020 available on SEDAR+. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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 news release.
For Further Information, Please Contact:
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca
Request Meeting: https://calendly.com/meet-with-wgo/15min
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d61eb9fb-9455-46be-9cac-3f78c03919f4https://www.globenewswire.com/NewsRoom/AttachmentNg/d0ca48ba-1c23-4433-9bc3-9df3e6bc88e6https://www.globenewswire.com/NewsRoom/AttachmentNg/56647ae4-09fc-4bb2-9867-21e30272ac6bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/1e8f8901-0a9e-43fe-9320-33fb1c68f214https://www.globenewswire.com/NewsRoom/AttachmentNg/9480ca7e-a639-4a62-9388-fb12cd34cf8e
Fireweed Grows Boundary Zone, Intersecting 92.15 m of 8.61% Zinc, 2.60% Lead, and 42.7 g/t Silver, Including 11.21 m of 21.40% Zinc, 6.66% Lead, and 107.6 g/t Silver at the Macpass Project
https://ca.finance.yahoo.com/news/fireweed-grows-boundary-zone-intersecting-113000883.html
Fireweed Metals Corp.
Thu, September 26, 2024 at 4:30 a.m. PDT·16 min read
FWEDF
0.00%
VANCOUVER, British Columbia, Sept. 26, 2024 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF)
Yes, SIG appears to be this year's SGD, but do keep in mind they are a lot more than just a Yukon gold explorer thanks to their other properties across North America.
LC
Forge Resources Commissions Detailed Structural Study at the Alotta Gold-Copper-Molybdenum Porphyry Project, Yukon
https://www.newsfilecorp.com/release/224401
September 24, 2024 11:45 AM EDT | Source: Forge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the commissioning of a detailed structural analysis study based on the diamond drilling completed to date. The purpose of the study is to identify structural relationships and preferred structural orientations to higher grade gold mineralization. The completion of this study will help determine the proper drill orientations for testing both disseminated and fracture controlled gold mineralization at Alotta.
All 2024 drill cores are orientated;
Select core samples were stained for plagioclase and K-spar, indicating the relationship of enveloping K-spar to higher grade gold mineralization;
Study includes the re-evaluation and relationship of geophysical data, mainly induced polarization to gold mineralization;
The study will help in determine the best orientations for future drill testing.
Lorne Warner P. Geo and President of Forge Resources Corp. states, "To date every drill hole completed on the property has intercepted significant lengths of both disseminated and fracture controlled gold mineralization without understanding the controls and orientations to the mineralization. The completion of this study will help in determining the proper drill orientations for testing both disseminated and fracture controlled gold mineralization at Alotta."
Qualified Person
Lorne Warner, P. Geo., President of Forge Resources Corp. is a qualified person as defined by National Instrument 43-101 and has approved the scientific and technical disclosure in this news release.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada. The Company holds a 40% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.
On behalf of the Board of Directors
"Cole McClay", CEO Forge Resources Corp.
info@forgeresourcescorp.com
604-271-0826
Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. 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 information. 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, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
SOURCE: Forge Resources Corp.
CMC Metals Completes A Significant Reclamation Program and Discovers Three Manto Zones at its Silver Hart Project, Yukon, Canada
https://ca.finance.yahoo.com/news/cmc-metals-ltd-completes-significant-141400725.html
CMC Metals Ltd
Thu, September 19, 2024 at 7:14 a.m. PDT·7 min read
CMCXF
0.00%
VANCOUVER, British Columbia, Sept. 19, 2024 (GLOBE NEWSWIRE) -- CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P) (“CMC” or the “Company”) is pleased to announce that the Company has completed a significant reclamation program on its Silver Hart and Blue Heaven claims in Yukon Canada. While supervising the reclamation effort, the Company’s Chief Geologist and President discovered three manto zones within the Main Zone at Silver Hart and identified additional areas of interest on the Blue Heaven claims all of which merit further investigation. Several grab samples were collected and have been sent for assaying.
The program completed reclamation of trenches, historical and recent access roads, drill pads in both claim areas (i.e. Silver Hart and Blue Heaven) of the Silver Hart Project. It is also important as it serves to ensure that the surety bond with Yukon is at a sufficient level.
Kevin Brewer, P.Geo, President and CEO noted that “This reclamation work is of considerable importance in meeting permit requirements and demonstrating social responsibility in our work programs. Every year we have completed progressive reclamation of historical work areas dating back to the mid 1980’s and recent activities. While supervising the effort I had some time to scout around and as a result identified three new manto zones which have never been drill investigated. We now have several drill target areas including (i) within the Main Zone on the Silver Hart claims that require infill drilling that could result in extensions of known mineralization; (ii) the “Golden Cross” area on the Blue Heaven claims which had highly positive trench results that appear to indicate the existence of staked manto horizons in that area, and (iii) recent discoveries of new mantos on surface.”
Mr. Brewer added that “This indicates that to me that clearly the full potential for CRD mineralization at this project is yet to be fully identified.”
As recently announced, the Company has selected MICON International to complete a new 43-101 compliant Mineral Resource Estimate of the Main Zone on the Silver Hart claims which currently has mineralization identified in several zones that may be amenable to open pit mining.
In addition, the Blue Heaven Property comprises of 118 claims (1,975 hectares) that are contiguous to the Company’s Silver Hart claims and is characterized with 13 mineralized areas and 36 showings many of which are yet to be evaluated by the Company.
A brief program in 2022 extended previous trenching at the Desire Showing (subsequently renamed as the Golden Cross Zone) with highly positive results including:
8.0 meters grading 13.39% lead, 1.57% zinc, 359.25 g/t silver and 1.17% manganese including 1.0 meter of 10% lead, 5.1% zinc, 1,500 g/t silver and 2.3% manganese
13.0 meters grading 8.25% lead, 4.22% zinc, 151.57 g/t silver and 9.16% manganese including 1.0 meter of 23.86% lead, 0.9% zinc, 623 g/t silver and 2.3% manganese
A 14.0 meter mineralized area including 1.0 meter samples containing:
3.61% lead, 3.1% zinc, 199 g/t silver, 12.6% manganese
10% lead, 2.5% zinc, 360 g/t silver and 3.7% manganese
10% lead, 8.5% zinc, 459 g/t silver, and 1.6% manganese
Several other 1.0 meter length individual samples containing:
49.8% lead, 3.7% zinc, 857 g/t silver and 5.7% manganese
13.4% lead, 5.6% zinc, 167 g/t silver and 10.5% manganese
59.46% lead, 1.8% zinc, 1,076 g/t silver and 3.2% manganese
21.01% lead, 1.1% zinc, 820 g/t silver and 1.4% manganese
16.53% lead, 0.3% zinc, 425 g/t silver and 0.7% manganese
64.56% lead, 5.6% zinc, >1,500g/t silver and 2.3% manganese
29.26% lead, 0.7% zinc, 1,295 g/t silver and 0.5% manganese
The area around the Golden Cross Zone is also characterized by several outcrops with extensive manganese which has been found to be indicative of silver-lead-zinc CRD-style mineralization on the Silver Hart property. These areas will be further evaluated with trenching and detailed mapping once an exploration permit has been secured for the property
In addition, a bulk sample collected by Nordac Resources Ltd. in 1999 from the Blue and H zones within the Blue Heaven claims comprised of 51.47 dry tonnes grading 8,563 g/t silver, 56.2% lead, 9.5% zinc and 1.2 g/t gold.
A recent in-depth analysis completed by Ronacher-McKenzie Geosciences on the 2021 SkyTEM airborne electromagnetic survey identified four areas of exploration prospectivity within the Silver Hart Project areas that were deemed to merit detailed evaluation.
A permit application including a renewal for exploration on the Silver Hart and Blue Heaven claims submitted to the Yukon Environmental and Assessment Board has reached the final review stage. The Company is optimistic that a permit will be acquired prior to the 2025 field season. CMC wholly owns (100%) the Silver Hart claims and has recently acquired an 80% interest in the Blue Heaven claims with the remaining 20% owned by Strategic Metals Ltd.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).
On behalf of the Board:
“Kevin Brewer”
Kevin Brewer, President, CEO and Director
CMC Metals Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
“This news release may contain certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”
CMC Metals Contracts Micon International Ltd. to Complete a NI 43-101 Compliant Mineral Resource Estimate on its Silver Hart Project, Yukon
https://ca.finance.yahoo.com/news/cmc-metals-ltd-contracts-micon-091500753.html
CMC Metals Ltd
Wed, September 18, 2024 at 2:15 a.m. PDT·4 min read
CMCXF
0.00%
VANCOUVER, British Columbia, Sept. 18, 2024 (GLOBE NEWSWIRE) -- CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P) (“CMC” or the “Company”) announces that it has contracted MICON International Limited to complete a National Instrument 43-101 compliant Mineral Resource Estimate (“MRE”) for its Silver Hart Project, Yukon.
It is estimated that the MRE will be completed in approximately six weeks time. The MRE is phase 1 of a multi-stage evaluation to determine if it is amenable to establish seasonal small-scale open pit mining at the Silver Hart Project.
Kevin Brewer, President and CEO noted “We are excited about the potential for mid-term production at our 100% owned Silver Hart Project in Yukon. Our aim would be to utilize possible pre-concentration technologies such as ore sorting or dense media separation to enhance the viability and economics of transporting material from Silver Hart and Blue Heaven to a processing mill. This is a conceptual project at this stage but one that is viewed by our Board as within our abilities. We are also in discussion with companies to undertake metallurgical and other tests to confirm what technology is be suited to the material at Silver Hart.”
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).
On behalf of the Board:
“Kevin Brewer”
Kevin Brewer, President, CEO and Director
CMC Metals Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
Website: www.cmcmetals.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
“This news release may contain certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”
Prospector Announces Discovery of "Vary" and "Russer" Gold Zones, ML Project. Assays from Vary Zone yield up to 74.96 g/t Au and Russer Zone up to 16.22 g/t Au.
Select sample highlights include:
The newly identified Vary Zone yielded results which include 79.96 g/t Au and 3.05 g/t Au and 3.98% Cu from sheeted quartz veins hosted within porphyritic intrusive rocks.
The newly identified Russer Zone results include 16.22 g/t Au and 16.14 g/t Au hosted in quartz-tourmaline veins within porphyritic intrusive rocks.
Java Area yielded 16.08 g/t Au and 11.55 g/t Au in quartz veins within calc-silicate replaced quartz pebble conglomerate horizons
Rubble Area assay results include 13.42 g/t Au, 1.06 g/t Au and 8.39% Cu, and 2.58% Cu in quartz veins within gossanous and altered porphyritic intrusive rocks.
Cirque Area assayed up to 10.4% Cu and 1.18 g/t Au in a talus boulder consisting of coarse grained to massive pyrrhotite, arsenopyrite, pyrite, and tourmaline.
https://www.newsfilecorp.com/release/223377
September 16, 2024 7:15 AM EDT | Source: Prospector Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2024) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to report assay results from the 2024 exploration program at the ML Project located approximately 80 km from Dawson City, Yukon Territory.
During the 4-week program, a total of 520 rock grab and chip samples were collected across the property to establish the extent of the surface expression of known zones as well as sample new areas with unknown mineral potential. All assays have now been received. The contents of this news release are focused on Au targets, while highlights of Ag and associated base metal targets will be provided in a subsequent news release.
Key Point Summary
New surface discoveries at the Vary Zone and Russer Zone greatly expand the high-grade gold footprint at ML.
A robust east-west mineralized corridor is developing between the Rubble and Cirque Areas in addition to the northeast-southwest trending structural corridor.
LiDAR and World View 3 datasets have been received and will be analysed over the next several weeks. Results will be released when available.
See Figure 1 map below with new assay results and the broad structural corridor at the ML Project.
"These new surface discoveries greatly expand the high-grade gold footprint at ML", stated Prospector CEO Rob Carpenter. "Our team has successfully identified a major first order structural corridor that is at least 15km long and 2km wide. Now that all our assays have been received, priority drill targeting exercises for 2025 have begun."
2024 ML Field Program
The 2024 field program on the ML property encompassed:
520 rock grab and chip samples and initial geologic and structural mapping.
high-resolution LiDAR:
WorldView-3 remote sensing survey: Processing underway
Samples from the three known intrusive centers have been submitted for whole rock analysis and age dating.
The work was completed to assess multiple known historic prospects across the property, including previously underexplored intrusion hosted targets, to gain an understanding of key structural and lithologic controls on mineralization with a goal of defining future drill targets. Based on the work, the Company noted a series of steeply dipping NNE trending and E-W trending structural corridors that transect the property and appear to be a primary control on mineralization in all rock types.
All assays have been received and results range from below detection up to 79.96 g/t Au and to 10.4% Cu. Two new areas of mineralization have been identified, in addition to adding new high-grade results to existing areas.
Vary Zone - Newly Identified
A total of 68 samples were collected from the Vary Zone. Assay results range from trace to 79.96 g/t Au, and up to 3.98% Cu. Mineralization in the area occurs along the southern margin of a porphyritic intrusive body and consists of intrusive hosted quartz-tourmaline veining with arsenopyrite and chalcopyrite as well as calc-silicate altered limestone with disseminated to fracture controlled arsenopyrite-chalcopyrite.
Russer Zone - Newly Identified
A total of 9 samples were collected from the Russer Zone. Assay results range from trace to 16.22 g/t Au and are associated with strongly anomalous As, Bi, and Te. Mineralization is hosted within sheeted quartz +/-tourmaline veins with coarse grained arsenopyrite mineralization along the northern margin of a large porphyritic intrusive unit.
Java Area
A total of 102 samples were collected from the Java area. Assay results range from trace to 16.08 g/t Au, and up to 2.24% Cu with strongly anomalous As, Bi, Sb, and Te. The Java Trend consists of multiple horizons of calcareous interbedded coarse sandstone and quartz pebble conglomerates replaced by Fe-carbonate, limonite, tremolite, and pyroxene. Mineralization is characterized by disseminated to massive arsenopyrite and lesser chalcopyrite and pyrrhotite associated with late silicification and open space quartz veins. Tourmaline occurs within veins and fractures. Porphyritic intrusive to gabbroic dykes and faults cross-cut the metasedimentary rocks, with NNE-SSW and E-W orientations.
Rubble Area
A total of 58 samples were collected from the Rubble area. Assay results range from trace to 13.46 g/t Au and up to 3.3% Cu with strongly anomalous As, Bi, Sb, and Te. Mineralization on the Rubble trend is hosted within porphyritic intrusive rocks and adjacent calc-silicate altered limestone, at the intersection of WNW-ESE and NNE-SSW trending structural corridors. Multiple orientations of sheeted veins and fractures within the porphyritic intrusive rocks contain tourmaline, arsenopyrite, chalcopyrite, and pyrite. Within the calc-silicate altered limestone, axinite is commonly associated with the arsenopyrite, chalcopyrite, pyrite assemblage, instead of tourmaline.
Cirque Area
Results for 48 samples from the Cirque area have been received to date. Assay results ranged from trace to 23 g/t Au with 17 samples returning > 1g/t Au. The mineralization is hosted within sheeted veins and fractures within a feldspar porphyritic syenite and is associated with strongly anomalous As, Bi, Cu, Sb, and Te. Individual veins range in thickness from mm to 10cm and are associated with disseminated to massive arsenopyrite, chalcopyrite, and pyrite with quartz +/- tourmaline, tremolite, and chlorite. Mineralization appears to be most concentrated near the margin of the intrusion, within a strong ESE - WNW structural corridor.
Bueno Area
Results for 21 samples from the Bueno area have been received to date. Assay results ranged from trace to 34.64 g/t Au with two samples returning >10 g/t Au with strongly anomalous Ag (up to 57.03 g/t Ag), As, Bi, Cu (up to 1.8%), Sb, and Te. The Bueno Trend consists of hornfelsed to calc-silicate altered limestone and metasedimentary rocks cut by a series of steeply dipping NNE trending high angle structures and feldspar porphyry dikes. Mineralization is characterized vein and fracture controlled fine grained arsenopyrite, chalcopyrite and pyrrhotite, as well as disseminated medium to coarse euhedral arsenopyrite.
Other Areas
Anomalous results were also returned from other areas of the ML property with highlights including:
Individual samples up to 5.98 g/t Au associated with quartz-arsenopyrite boulders and massive to disseminated pyrrhotite in calc-silicate altered sedimentary units from the Fishbowl Cirque area.
Samples up to 10.38 g/t Au from strongly altered mafic dike with strongly anomalous Ag, Bi, Pb, Sn, and Te
Samples up to 4.61 g/t Au associated with intrusive hosted quartz-arsenopyrite-chalcopyrite veins in the Anvil area.
Figure 1. 2024 assay results from grab and chip samples at the ML Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1564/223377_e421d52434a848d1_002full.jpg
ML Project Overview
Historical exploration of the ML Project has outlined numerous areas of interest that are loosely defined by a combination of geographic location, host lithology, mineralization type, geochemical signature and/or geophysical response (Figure 1), including intrusion hosted gold (+copper) style, replacement-skarn style, and high-grade vein targets. In addition, there are multiple relatively unexplored mineral occurrences, many of which are high grade gold targets. A total of 117 diamond drill holes have been drilled property wide, testing six property targets. From 2005 to 2008, Dynamite Resources drilled 114 of these holes, with 23 holes at the North Vein Zone (a gold enriched skarn-replacement target) and 71 holes at Skarn Ridge (a gold - copper skarn-replacement target).
The Property hosts numerous other targets of interest which have a variety of intriguing characteristics, such as high-grade rock-soil samples, highly anomalous trench samples, unique geophysical signatures, and large areas of alteration. Additionally, there remain large parts of the property that have received little or no exploration and evaluation. Several of the lesser-known mineralized areas are very attractive targets as they have undergone only cursory assessment by previous operators.
The property has an impressive technical data base which includes property wide airborne geophysics, satellite imagery, extensive soil and rock sampling, prospecting, selective ground geophysics, and diamond drilling (+16,700m over 117 holes). Most of this exploration took place from 2004 to 2008, a period when most drilling was focussed on two specific skarn/replacement type targets: Skarn Ridge (71 drillholes) and North Vein (23 drillholes).
Assay Methodology & QA/QC
The analytical work on the ML project was performed by MSALABS, an internationally recognized analytical services provider, located in Langley, British Columbia. All rock samples were prepared using procedure PRP-910 (Dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-221 (50g fire assay with AAS finish) and IMS-230 (0.25g, 4-acid digest and ICP-MS analysis). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn were reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis).
The reported work was completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no QA/QC issues.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, P.Geo. Advisor to Prospector, and a Qualified Person as defined under National Instrument NI 43-101 ("NI 43-101").
About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of the Discovery Group. The Company is focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada - Tier-1 mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Dr. Rob Carpenter at 604-354-6415 or by email at info@prospectormetalscorp.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances necessary to carry out the Company's exploration plans and risks of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Prospector Metals Corp.
Banyan Metallurgy Update with 93% Recovery from Powerline, AurMac Project, Mayo, Yukon
https://www.accesswire.com/918290/banyan-metallurgy-update-with-93-recovery-from-powerline-aurmac-project-mayo-yukon
Monday, 16 September 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / September 16, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN)(OTCQB:BYAGF)
Banyan Completes 75% Earn-In on the Aurex Property, Yukon
https://www.accesswire.com/915914/banyan-completes-75-earn-in-on-the-aurex-property-yukon
Wednesday, 11 September 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / September 11, 2024 / Banyan Gold Corp . (the "Company" or "Banyan") (TSXV:BYN
CANTEX ANNOUNCES DRILL CONFIRMED STRIKE EXTENDED TO 2.6 KILOMETRES AT ITS SILVER-LEAD-ZINC-GERMANIUM DEPOSIT ON ITS 100% OWNED NORTH RACKLA CLAIMS IN THE YUKON
https://www.newswire.ca/news-releases/cantex-announces-drill-confirmed-strike-extended-to-2-6-kilometres-at-its-silver-lead-zinc-germanium-deposit-on-its-100-owned-north-rackla-claims-in-the-yukon-805442680.html
Cantex Mine Development Corp. Sep 09, 2024, 09:00 ET
KELOWNA, BC, Sept. 9, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF
Sitka Intercepts Multiple Occurrences of Visible Gold from Surface to 680 Metres in Deepest Hole Ever Drilled at RC Gold in Yukon
DDRCCC-24-068 (Hole 68) was drilled to 708.7 metres to test the depth continuity of Blackjack Zone mineralization and encountered over 40 instances of visible gold from surface to 680 metres with mineralization remaining open to depth.
Hole 68 is approximately 200 metres deeper than any previous drill holes, adding substantial gold mineralization beyond previous drilling limits.
Multiple occurrences of visible gold within sheeted quartz veins observed in other recently completed drill holes.
Diamond drilling is currently ongoing at RC Gold.
https://www.newsfilecorp.com/release/222978
September 11, 2024 7:00 AM EDT | Source: Sitka Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2024) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF)
Snowline Gold Drills 6.0 Grams Per Tonne Gold Over 101.0 M In Broader Interval Of 4.1 Grams Per Tonne Gold Over 244.9 M From Surface At Its Valley Deposit, And Identifies Two New Gold Targets
Hole V-24-078 returned 4.05 g/t Au over 244.9 m from surface, including 5.99 g/t Au over 101.0 m, emphasizing strong continuity of high-grade, near-surface gold mineralization at Snowline's Valley deposit, Rogue Project
"Charlotte" target is a newly discovered reduced intrusion-related gold system on the Rogue Project in and around an elongate 1.6 x 0.3 km intrusion, with selective grab samples up to 28.4 g/t Au
"Galatea" target hosts a 1.3 km quartz-carbonate boulder train found along 12 km structural corridor between Jupiter and Avalanche Creek, Einarson Project, with grab samples to 6.11 g/t Au
Assays pending for >22,500 m across 7 targets, with drilling ongoing.
https://www.accesswire.com/915372/snowline-gold-drills-60-grams-per-tonne-gold-over-1010-m-in-broader-interval-of-41-grams-per-tonne-gold-over-2449-m-from-surface-at-its-valley-deposit-and-identifies-two-new-gold-targets
Tuesday, 10 September 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / September 10, 2024 / SNOWLINE GOLD CORP (TSX-V:SGD)(OTCQB:SNWGF
Yukon Metals Samples over 10,000 g/t Silver, Multiple Samples over 1500 g/t Silver, and up to 6.9 g/t Gold at Star River
https://ca.finance.yahoo.com/news/yukon-metals-samples-over-10-130000710.html
Yukon Metals Corp.
Tue, September 10, 2024 at 6:00 a.m. PDT·9 min read
YMC.CN
+1.25%
E770.F
-5.98%
VANCOUVER, British Columbia, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Yukon Metals Corp. (CSE: YMC, FSE: E770
Silver North Commences Drilling at Haldane Property
Drilling to test high-grade silver targets at the West Fault, Main Fault and Bighorn
https://thenewswire.com/press-releases/1k98FG934-silver-north-commences-drilling-at-haldane-property.html
Vancouver, BC, September 10, 2024 – TheNewswire – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to announce that the 2024 drilling campaign has commenced at the wholly owned Haldane Property in the historic Keno Hill Silver District, Yukon. Approximately 1,000 metres of drilling is planned for 3 holes testing the West Fault, Main Fault and Bighorn targets. The 8,579 hectare Haldane Property is located 25 km west of Keno City, YT and hosts numerous occurrences of silver-lead-zinc-bearing quartz siderite veins as seen elsewhere in the district.
“Silver North’s second drill program of 2024 targeting high grade silver mineralization is underway,” stated Jason Weber, P.Geo., President and CEO of Silver North. “This is an exciting time for Silver North shareholders as we await the analytical results from Tim and now are drilling three high priority targets at Haldane. We aim to build on the strike and down dip extents at West Fault, attempt to intersect the Main Fault at depth and build on the only hole testing the Bighorn target.”
Drilling will target the West Fault, Main Fault and Bighorn areas. Drilling at West Fault will aim to expand upon high grade silver mineralization intersected in recent drilling such as 3.14 metres (true width) averaging 1,351 g/t silver, 2.43% lead and 2.91% zinc. The West Fault structure has been traced for over 650 metres of strike length and is interpreted to extend to 1.1 km in length before merging with the 2.2 km long Main Fault structure.
Drilling at the West Fault will target the interpreted southwest plunge of the mineralization with an approximate 50 m step-out from the high-grade result returned from HLD21-24 (3.14 metres (true width) averaging 1,351 g/t silver, 2.43% lead and 2.91% zinc). A second hole targeting the West Fault and Main Fault will test the West Fault approximately 190 m along strike to the southwest from HLD21-24 and approximately 75m downdip from HLD11-06 that returned 3.04 metres averaging 0.472 g/t gold, 190.8 g/t silver, 4.33% lead and 2.61 % zinc from a very poorly recovered highly oxidized intersection of the vein. This hole is intended to continue to intersect the Main Fault approximately 275m downdip and between the Main and Main South surface showings. A nearby shallow drill hole from 2011 returned 3.08 m averaging 0.122 g/t gold, 83.8 g/t silver, 0.14% lead and 1.39% zinc from poorly recovered and highly oxidized vein material at the overburden – bedrock interface.
Drilling will also target the silver-bearing vein mineralization intersected in the only hole drilled at the Bighorn Target. Drilling in 2019 intersected four separate veins, the best of which returned 2.35 m averaging 125 g/t silver and 4.39% lead. The structure hosting mineralization at Bighorn has been traced for over 525 m of strike length within a 900 m long lead-silver soil geochemical anomaly. The current drilling will target approximately 200 m along strike to the north from the 2019 intersection and will test a combination of soil samples highly anomalous in silver and lead and anomalous trench sampling results from the highly oxidized and weathered main BT structure at Bighorn that returned 22.6 m of 0.12% lead and 6.1 g/t silver.
Click Image To View Full Size
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.’s Keno Hill Mine project) and the Tim silver project (under option to Coeur Mining, Inc.).
The Company is listed on the TSX Venture Exchange under the symbol “SNAG”, trades on the OTCQB market in the United States under the symbol “TARSF”, and under the symbol “I90” on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://x.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
Banyan Intersects 0.72 g/t gold over 197.0 metres from Surface, Powerline Deposit, AurMac Property, Yukon, Canada
https://www.accesswire.com/912868/banyan-intersects-072-gt-gold-over-1970-metres-from-surface-powerline-deposit-aurmac-property-yukon-canada
Thursday, 05 September 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / September 5, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF
Fireweed Increases Mineral Resources at the Macpass Project Including an Inaugural Resource for Boundary Zone
https://ca.finance.yahoo.com/news/fireweed-increases-mineral-resources-macpass-232300225.html
Fireweed Metals Corp.
Wed, September 4, 2024 at 4:23 p.m. PDT·27 min read
FWEDF
-2.06%
VANCOUVER, British Columbia, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Fireweed Metals Corp. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF)
Silver North Resources: Tim Drilling Program Completed; Crews Mobilizing to Haldane Project
Drilling indicates the presence of a Carbonate Replacement (“CRD”) style system at Tim
2,252 metres drilled in six holes
Drill is currently moving from Tim to the Haldane Property
https://thenewswire.com/press-releases/1B2aFpjzN-tim-drilling-program-completed-crews-mobilizing-to-haldane-project.html
Vancouver, BC – TheNewswire - September 4, 2024 – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to announce that the 2024 drilling program at the Tim Property has now been completed and the drill is being demobilized from site. The Tim Property is under option to, and operated by, Coeur Mining, Inc. (“Coeur” NYSE-CDE), which is funding the 2024 program. A total of 2,252 metres were drilled in six holes in the program. The drill is now enroute to Silver North’s wholly-owned Haldane Property in the historic Keno Hill Silver District and the Company’s technical team is on site.
“We would like to thank the Coeur Silvertip team,” stated Jason Weber, P.Geo., President and CEO of Silver North. “Coeur has exceeded expectations on every program they have conducted at Tim. The late addition of two airborne geophysical surveys to augment this year’s drilling is an example of the big-picture approach they are taking at Tim to identify how it fits into the regional CRD setting. We eagerly await the receipt of analytical results this fall.”
As outlined in Silver North’s update of August 19, 2024, drill core observations from the first three holes of the program include diagnostic features that are commonly associated with significant CRD mineralization and have been observed at the Silvertip deposits. Such characteristics include fugitive calcite veining that fluoresces in UV light (displaying the classic “barbeque” pink and orange fluorescence) and re-crystallization of the host limestones.
The 2024 program is conducted under the direction of Coeur’s exploration team based at Silvertip, under the terms of an option agreement granting Coeur the right to earn a 51% interest in the property by completing a minimum of $3.15 million in additional exploration expenditures and making additional cash payments to Silver North totalling $275,000 by December 31, 2026. Coeur can bring its interest to 80% by making additional cash payments of $100,000 per year in 2027 and 2028, completing a positive feasibility study and informing Silver North of its intention to develop a mine at Tim by December 16, 2028. Under this agreement, Coeur must fund a minimum $700,000 program in 2024. Tim is road accessible via 25 km of 4 x 4 access off the Silvertip Mine Road.
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.’s Keno Hill Mine project) and the Tim silver project (under option to Coeur Mining, Inc.).
The Company is listed on the TSX Venture Exchange under the symbol “SNAG”, trades on the OTCQB market in the United States under the symbol “TARSF”, and under the symbol “I90” on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://x.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
Yukon Metals Announces Positive Results of up to 14.1 g/t gold and 4,260 ppm copper from Surface Rock Chip and Soils Sampling up to 0.99 g/t gold at its Birch Property
https://ca.finance.yahoo.com/news/yukon-metals-announces-positive-results-130000599.html
Yukon Metals Corp.
Tue, September 3, 2024 at 6:00 a.m. PDT·7 min read
YMC.CN
-25.45%
E770.F
0.00%
VANCOUVER, British Columbia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Yukon Metals Corp. (CSE: YMC, FSE: E770), the “Company” or “Yukon Metals”, is pleased to announce an exploration update on its 2,285 hectare Birch project, located approximately 65 km northeast of Burwash Landing.
Fieldwork commenced at the Birch property on August 3, 2024 (Figure 1), including a soil sampling and prospecting program (Figure 2 to 4). Assays from 341 of 530 samples on a 50m x 100m grid over the northern anomaly were received and show encouraging Au and Cu results up to 0.988 g/t Au and 2,310 ppm Cu. The anomalous zone trends roughly east-west and extends over 1,400 meters. A rock-chip sample over this zone contains 14.1 g/t gold and 4260 ppm copper within pyrite-chalcopyrite rich skarn (Figure 5). Field mapping indicates the geology of the project area is comprised of schists and marble units, moderately to strongly oxidised felsic intrusive, and patchy oxidised porphyritic rhyolite dykes.
Rory Quinn, President & CEO stated, “We are excited about these first pass results that have clearly identified a copper & gold mineralized system that has significant scale as demonstrated by the soil anomaly being over 1,400 meters long. The exceptionally high gold grades of up to 14.1 g/t from the surface rock chip program taken in the same area also point to the potential of the system to host economic grades. The metal association and the geology of the prospect area all point to the prospectivity for a gold-rich copper porphyry system that is largely preserved. The project area also has relatively benign topography and is located 65 kilometers from the Alaska highway.”
Yukon Metals will follow up on the soils results by using a combination of electrical resistivity tomography and induced polarization geophysics to delineate bedrock structure.
About the Birch Project
Yukon Metals owns 100% of the Birch project located 65km northeast of the community of Burwash Landing, and accessible via helicopter. The Birch project lies predominantly within the Finlayson assemblage of the Yukon-Tanana Terrane, consisting of variably carbonaceous schist and quartzite, marble, garnet amphibolite and rare metaplutonic rocks.
The Yukon-Tanana Terrane structurally overlies the Ruby Range Batholith which is regionally mapped in the northeastern portion of the property occurring as Ruby Range quartz-feldspar porphyry and Rhyolite Creek porphyry and intermediate and felsic volcanic rock (Israel et. Al., 2011).
Cu-Zn and Mo mineralization was first identified in the area in the early 1970s as part of a small exploration campaign which uncovered several skarn horizons in the northern project area, as well as molybdenite in quartz veins and stringers in granodiorite float on the southeastern side of the property (MINFILE 115G 077). Gold was not assayed for until interest renewed in the early 2010s with soil and mapping exploration work over the area uncovering several high soil anomalies ranging from 0.02-15g/t Au.
The Birch claims were staked over copper skarn and soil gold anomalies in 2022 by Lapie Mining Inc., and subsequently acquired by Yukon Metals in 2024 as part of the Berdahl land package.
Vision Quest, a Yukon First Nations-owned and operated exploration company working closely with Yukon Metals, conducted the sampling program using field staff whose traditional territory includes the Birch property.
Sample Methodology
Rock and soil samples were sent to ALS Minerals for analysis with sample preparation in Whitehorse, Yukon and analysis in North Vancouver, British Columbia.
Rock samples were prepared by crush to 70 % passing 2mm, 250g split pulverised better than 85% passing 75 microns (Prep-31A). Pulp samples were analysed for 34 elements by four acid digestion and ICP-AES (ME-ICP61). All samples were analyzed for gold by fire assay and AAS with a 50g nominal sample weight (Au-AA24). Samples over 10g/t Au were assayed by 50g sample fire assay with gravimetric finish (Au-GRA22).
Soil samples were collected with a battery-powered permafrost soil drill collecting high-quality samples below boulders and frozen ground to depths of 1m. This technique was designed specifically for Yukon geochemical exploration to better delineate mineralization along steep, rocky and permanently frozen north-facing slopes unsuitable for traditional soil sampling techniques. Samples were dried and sieved to 180 um (Prep-41A) and analysed for 51 elements by aqua regia digestion and ICP-MS and ICP-AES (AuME-TL44).
Birch project location map.
Figure 1- Birch project location map.
Anomalous gold (
Figure 2- Anomalous gold (>0.08 ppm) and copper (>200 ppm) contours over the northern Birch soil grid.
Gold-in-soils at northern Birch 50m x 100m grid.
Figure 3- Gold-in-soils at northern Birch 50m x 100m grid.
Copper-in-soils at northern Birch 50m x 100m grid.
Figure 4- Copper-in-soils at northern Birch 50m x 100m grid.
Rock Sample K654501 of mineralized skarn horizon grading 14.1 g/t Au and 4,260 ppm Cu.
Figure 5- Rock Sample K654501 of mineralized skarn horizon grading 14.1 g/t Au and 4,260 ppm Cu.
Qualified Person
The technical content of this news release has been reviewed and approved by Helena Kuikka, P.Geo., as the Qualified Person (as defined by National Instrument 43-101).
About Yukon Metals Corp.
Yukon Metals is well financed and represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold’s portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors and Management Team across technical and finance disciplines.
Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing stakeholder value. Our strategy centers around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, our ventures.
The Yukon
The Yukon ranks 10th most prospective for mineral potential across global jurisdictions according to the Fraser Institute’s 2023 Survey of Mining Companies, and is host to a highly experienced and conscientious local workforce, fostered by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold’s Rogue Project - Valley Discovery, demonstrate the Yukon’s potential to generate fresh district-scale mining opportunities.
YUKON METALS CORP.
“Rory Quinn”
Rory Quinn, President & CEO
Email: roryquinn@yukonmetals.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information, including information about the incremental release from escrow of the Consideration Shares, the resumption of trading of the Common Shares and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify the forward-looking information. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking information involves significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied in the forward-looking information. Such factors include, among other things: risks and uncertainties relating to the incremental release from escrow of the Consideration Shares; the resumption of trading of the Common Shares; and other risks and uncertainties. See the section entitled “Risk Factors” in the Company’s listing statement dated May 30, 2024, available under the Company’s profile on SEDAR+ at www.sedarplus.ca. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with the forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise the information to reflect new events or circumstances, except as required by law.
References
Israel, S., Murphy, D., Bennett, V., Mortensen, J. and Crowley, J., 2011. New insights into the geology
and mineral potential of the Coast Belt in southwestern Yukon. In: Yukon Exploration and Geology
2010, K.E. MacFarlane, L.H. Weston and C. Relf (eds.), Yukon Geological Survey, p. 101-123.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/69213132-db46-4ad2-a66c-ab2c71e07ff6
https://www.globenewswire.com/NewsRoom/AttachmentNg/90eb8a5c-f086-4b91-bbc4-b8864f9cb3f1
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f7a880e-5201-4f33-bf49-889f69c1382d
https://www.globenewswire.com/NewsRoom/AttachmentNg/ec777305-0d51-475e-af7c-e8cb924f724c
https://www.globenewswire.com/NewsRoom/AttachmentNg/132fa383-7154-477d-ad89-fcc390d5fdf5
Snowline Gold Expands Valley Footprint With 435.0 M Of 1.6 Grams Per Tonne Gold on Its Rogue Project, And Drills 6.3 M Of 6.9 Grams Per Tonne Gold at Its Jupiter Target, Einarson Project, Yukon
Hole V-24-077, along the northeast boundary of Valley's current mineral resource estimate, averaged 1.61 g/t Au over 435.0 m, including 2.39 g/t Au over 150.5 m
On Snowline's Jupiter target, Einarson Project, Hole J-24-022 returned 6.88 g/t Au over 6.3 m, including 13.9 g/t Au over 2.0 m downhole, along with other mineralized intersections in 170 m step-back from previous drilling
Trace amounts of visible gold seen in regional drilling at Aurelius target, Rogue Project and Sydney target, Cynthia Project
Assays pending for >21,000 m across 7 targets, with drilling ongoing.
https://www.accesswire.com/909590/snowline-gold-expands-valley-footprint-with-4350-m-of-16-grams-per-tonne-gold-on-its-rogue-project-and-drills-63-m-of-69-grams-per-tonne-gold-at-its-jupiter-target-einarson-project-yukon
Thursday, 29 August 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / August 29, 2024 / SNOWLINE GOLD CORP (TSX-V:SGD)(OTCQB:SNWGF)
Gladiator Recommences Drilling with Two Rigs at Cowley Park
https://www.newsfilecorp.com/release/221213
August 27, 2024 7:15 AM EDT | Source: Gladiator Metals Corp.
Silver North to Commence Haldane Drilling
https://thenewswire.com/press-releases/1kogFvzQZ-silver-north-to-commence-haldane-drilling.html
Vancouver, BC, August 27, 2024 – TheNewswire – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to provide an update on 2024 Yukon exploration activities at the wholly owned Haldane Property in the historic Keno Hill Silver District, Yukon. Crews will be mobilizing to the property in the first week of September, with drilling commencing by mid-September. The 8,579 hectare Haldane Property is located 25 km west of Keno City, YT and hosts numerous occurrences of silver-lead-zinc-bearing quartz siderite veins as seen elsewhere in the district.
“We are eager to begin drilling at Haldane again, following on the heels of the Tim drilling program in southern Yukon,” stated Jason Weber, P.Geo., President and CEO of Silver North. “In fact, the drill will move north from Tim to Haldane once the final hole at Tim is complete in early September.”
Drilling will target the West Fault and Bighorn areas. Drilling at West Fault will aim to expand upon high grade silver mineralization intersected in recent drilling such as 3.14 metres (true width) averaging 1,351 g/t silver, 2.43% lead and 2.91% zinc. The West Fault structure has been traced for over 650 metres of strike length and is interpreted to extend to 1.1 km in length before merging with the 2.2 km long Main Fault structure. The Main Fault is known to host strongly oxidized silver mineralization on surface at the Main and Main South targets. If drilling conditions permit, one hole at the West Fault will be continued to depth in order to intersect the Main Fault target as well.
Drilling will also target the silver-bearing vein mineralization intersected in the only hole drilled at the Bighorn Target. Drilling in 2019 intersected four separate veins, the best of which returned 2.35 m averaging 125 g/t silver and 4.39% lead. The structure hosting mineralization at Bighorn has been traced for over 525 m of strike length within a 900 m long lead-silver soil geochemical anomaly. In total, approximately 1,000 m of drilling is planned for the current program.
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.’s Keno Hill Mine project) and the Tim silver project (under option to Coeur Mining, Inc.).
The Company is listed on the TSX Venture Exchange under the symbol “SNAG”, trades on the OTCQB market in the United States under the symbol “TARSF”, and under the symbol “I90” on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://x.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
Transition Metals Further Defines Cu-Au Porphyry Targets at Pike Warden, Yukon
ZTEM™ survey highlights prominent conductivity feature under cover within area dubbed Copper Junction
Fieldwork highlights prospective porphyry target at Copper Junction, coincident with prospective alteration and copper mineralization
Four new polymetallic showings discovered, with samples returning assay values up to 1.04 g/t Au, 3.63% Cu, 1.37% Mo, 2.6% Zn, and 0.12% W
https://www.newsfilecorp.com/release/220787
August 22, 2024 8:08 AM EDT | Source: Transition Metals Corp.
Sudbury, Ontario--(Newsfile Corp. - August 22, 2024) - Transition Metals Corp. (TSXV: XTM) ("Transition" or "the Company") is pleased to provide an update on exploration work completed at its Pike Warden project ("the Property") located near Whitehorse, Yukon. This summer, the Company's exploration team focused on areas of the property considered prospective for hosting porphyry Cu-Au mineralization, including Copper North, Copper Junction, and Olympus (Figure 1). The work involved collecting samples and data to better characterize the geology, structure, alteration, fracture and vein density, and vein types in these areas, as well as sampling any prospective-looking mineralization.
Final data from the Z-Axis Tipper Electromagnetic system (ZTEM™) survey, flown by Geotech Ltd. over Pike Warden (see news release dated June 22, 2024), has been received. Notably, the Company's preliminary interpretation of the ZTEM™ data highlights a large conductivity anomaly located centrally within one of the more prominent areas of prospective alteration and elevated copper mineralization, Copper Junction.
Scott McLean, P.Geo., CEO of Transition Metals, commented, "We are encouraged that our work continues to highlight some compelling untested Cu-Au porphyry targets. Our geological team is actively collaborating with our geophysical consultants to prioritize key targets on the property in preparation for drilling."
Figure 1: Pike Warden project map, with prominent structural trends, discovered polymetallic showings, and recent highlight samples.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/220787_eb389c1644b0da0e_002full.jpg
Sampling Results
In total, 79 samples were submitted for analysis, returning values of up to 1.04 g/t Au, 3.63% Cu, 1.37% Mo, 2.61% Zn, and 0.12% W from regions of outcropping and scree mineralization. This work has confirmed four new mineralized showings, named Steam, Whistle, Contrition, and Daedalus (Figure 1). With the addition of these new zones, the total number of mineralized showings on the property now stands at twenty-nine.
During the sampling conducted this summer, 92% of the collected samples were found to contain elevated levels of pathfinder elements, which are used to vector towards centers of mineralization. Notably, 47% of these samples exhibited anomalous concentrations of key metals, including copper, gold, silver, molybdenum, zinc, lead, and tungsten. These elevated and anomalous values contribute to the company's growing database, providing valuable insights for ongoing exploration. Select highlighted values are presented above to showcase the potential of the area. However, the reader is cautioned that only select highlight values are reported, that rock samples (bedrock and scree) are selective by nature, and that values reported may not represent mineralization of the entire project area.
Transition Metals adheres to rigorous sampling and analytical protocols that meet or exceed industry standards. Samples are securely stored until they are transported in batches to the ALS Geochemistry facility in Whitehorse, Yukon. Each sample batch includes certified reference materials, blanks, and duplicates, all processed under the control of ALS. The samples were analyzed in Vancouver by ALS Chemex, with ALS Laboratories' quality system meeting the requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015. The analysis was conducted using the ME-MS61 method, which reports 48 elements through four-acid digestion followed by ICP-MS. Gold was analyzed using the AU-ICP21 method, involving fire assay fusion with an ICP-AES finish. In cases of over-limit results, gold was determined by fire assay with a gravimetric finish, and base metals were analyzed using ore-grade (OG62) four-acid digestion with an ICP-AES finish.
Copper Junction
This summer's work highlights the potential of the Copper Junction area to host a large-scale copper porphyry system. In this region, the Company's preliminary interpretation of the recently completed ZTEM™ survey identifies a prominent east-west magnetic low trend that crosscuts a northeast-southwest trend of elevated conductivity. This feature, one of several identified on the Property, is centrally located within the expanded alteration and copper mineralization footprint in the Copper Junction area (Figure 2). Condor North Consulting ULC ("Condor") is currently further processing and refining the ZTEM™ geophysical data.
The conductivity feature identified at Copper Junction occurs at the intersection of two significant structural trends. The first trend is associated with an east-west striking concentric feature, interpreted as a collapse structure related to the Bennett Lake caldera complex. The second trend follows a cluster of northeast-trending features which host the majority of the copper and molybdenum mineralization, as well as the epithermal-style base and precious metal occurrences identified to date on the property. These northeast-trending structures appear to also control increased fracture and vein density, enhanced potassic alteration, and sites of copper mineralization peripheral to the defined ZTEM™ conductivity feature located under cover within the Copper Junction region.
Figure 2: A photograph of the Copper Junction area looking west-southwest, illustrating the location of copper mineralization, including the new Whistle and Steam showings, in relation to the east-west structure and the ZTEM™ conductivity feature.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/220787_eb389c1644b0da0e_003full.jpg
Next Steps
The Company plans to use the recently collected geological information, along with the geophysical interpretations and 3D inversion models, to assist in refining areas prospective for hosting porphyry-style copper-gold mineralization on the Property. The exploration team will continue to evaluate and prioritize this data in preparation for drill testing.
The recent field program included detailed geological mapping, particularly around potential porphyry target centers, with a focus on fracture density, vein styles, dike types, alteration abundance, alteration intensity, and mineralization associations. These activities have generated a significant amount of new data, which will be used to refine the Company's geological model of the Property. This includes analyzing altered, unaltered, and mineralized samples in geological studies to investigate the geological environment, pressure-temperature fluid evolution, and the broader mineralizing system preserved on the Property
About the Pike Warden Property
The Pike Warden property (Figure 1) is located in the traditional territory of Carcross/Tagish First Nation and is situated on the northern rim of the Bennett Lake Caldera Complex, one of the largest extinct volcanic centers in Canada.
The property is located approximately 65 kilometres southwest of Whitehorse, Yukon, and is composed of 203 contiguous mining claims totaling approximately 41 km². The property encompasses a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are indicative of a large epithermal-porphyry system in the vicinity of the Bennett Lake Volcanic Complex. In June 2022, Transition entered into an option agreement to acquire a 100% interest in the property from the Vendor in exchange for cash, shares, and work expenditures over a four-year period (see Company news release dated June 28, 2022).
Qualified Person
The technical elements of this news release have been approved by Mr. Benjamin Williams, P.Geo. (PGO), Senior Geologist of Transition Metals Corp. and a Qualified Person under National Instrument 43-101.
About Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution. Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Transition Metals Corp.
CANTEX ANNOUNCES RESUMPTION OF DRILLING AND REPORTS OUTSTANDING COPPER AND SILVER RESULTS ON ITS COPPER PROJECT LOCATED 10KM WEST OF ITS SILVER-LEAD-ZINC-GERMANIUM DEPOSIT ON ITS 100% OWNED NORTH RACKLA CLAIMS IN THE YUKON
https://www.newswire.ca/news-releases/cantex-announces-resumption-of-drilling-and-reports-outstanding-copper-and-silver-results-on-its-copper-project-located-10km-west-of-its-silver-lead-zinc-germanium-deposit-on-its-100-owned-north-rackla-claims-in-the-yukon-864536057.html
Cantex Mine Development Corp. Aug 19, 2024, 09:00 ET
KELOWNA, BC, Aug. 19, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF)
Sitka Drills 290.5 m of 1.10 g/t Gold, Including 105.0m of 1.68 g/t Gold, at its RC Gold Project, Yukon
https://www.newsfilecorp.com/release/220373
August 19, 2024 8:30 AM EDT | Source: Sitka Gold Corp.
DDRCCC-24-062 ("Hole 62") returned 290.5 m of 1.10 g/t gold, including 105.0 m of 1.68 g/t gold and 34.5 m of 2.61 g/t gold
DDRCCC-24-061 ("Hole 61") returned 206.0 m of 0.64 g/t gold including 27.0 m of 1.01 g/t gold and 1.0 m of 23.7 g/t gold
Drilling continues to expand mineralization with persistent higher-grade gold values south of the Blackjack deposit
Multiple occurrences of visible gold noted in DDRCCC-24-067
Second drill now turning at the Rhosgobel Intrusion target on newly acquired property
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF)
Granite Creek Copper Launches 2024 Drill Campaign at Carmacks Copper-Gold-Silver Project in Yukon, Canada
https://www.accesswire.com/903203/granite-creek-copper-launches-2024-drill-campaign-at-carmacks-copper-gold-silver-project-in-yukon-canada
Monday, 19 August 2024 07:45 AM
VANCOUVER, BC / ACCESSWIRE / August 19, 2024 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") is pleased to announce that drill crews and equipment have been mobilized to commence drilling at its wholly owned Carmacks copper-gold-silver project located in central Yukon, Canada.
The program will consist of approximately 1,800 meters of core drilling designed to test compelling new targets adjacent to existing high-grade, pit-constrained resources, namely the Gap, Sourtoe and Zone 4 target areas. Primary among these will be the Gap Target (see figure 1 below for drill section) which lies between the 147 and 2000 S zones and may represent a fault offset of either or both zones (see Figure 2, below). Modest, shallow drilling was completed by previous operators, but none to date have tested a large target identified in geophysical work by the Company which shows an Induced Polarization (IP) response nearly double that of the 147 Zone where high-grade mineralization is well defined.
Figure 1 - Gap Target Drill Section - Looking northwest
Timothy Johnson President and CEO stated, "The Carmacks copper-gold-silver project remains relatively underexplored despite a long history of exploration on the project primarily focused on the 147 Zone. The project remains highly prospective for new discoveries and expansion, as evidenced by our first major drill campaign in 2021 where we expanded the resource by over 40% on a contained copper basis. Areas that were previously reserved for infrastructure under previous mine plans are now available for exploration and discovery of additional resources proximal to the proposed pits. Our goal is to execute on the opportunities identified in the Preliminary Economic Assessment to increase the projected mine life and NPV of the project while continuing to maintain the highest of environmental standards."
Figure 2 - Drill Target Locations
The 177 sq km, Carmacks Project contains over 824 Mlbs Measured and Indicated and 29 Mlbs Inferred copper equivalent ("CuEq") metal within a National Instrument 43-101-compliant, high-grade resource of 36.2 million tonnes grading 1.07 % CuEq (0.81% Cu, 0.31 g/t Au, 3.41 Ag)1. The road accessible project is located along the Freegold Road, a Resource Gateway Road currently being upgraded by the Yukon government, and is within 20 km of the Yukon electrical grid. The project is also situated within the Minto Copper Belt, a roughly 80 km long belt of rocks known for high grade occurrences of copper-gold-silver mineralisation.
The 2022 Preliminary Economic Assessment completed on the project by SGS Canada identified increased resources along with improved recovery as prime means of increasing the Net present Value (NPV) of the project. Work completed this year at Kemetco Research (see news release dated January 17,2024) demonstrated that recoveries exceeding the target outlined in the PEA can be achieved. The current drill program is designed to show that significant resource expansion is possible and is specifically targeting areas that could lead to an expanded mine life as envisioned by the PEA.
About Granite Creek Copper
Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company's projects consist of its flagship 176 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Qualified Person
Debbie James P.Geo, has reviewed and approved the technical information contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101.
1Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters: Metal prices of $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo and pit slope angles that vary from 35° for overburden to 55°for granodiorite host, metal prices are in US$. Metallurgical recoveries reflective of prior test work that averages: 85% Cu, 85% Au, 65% Ag in the oxide domain and 90% Cu, 76% Au, 65% Ag in the sulphide domain. Mo recovery is assumed to be 70% in both oxide and sulphide domain. Totals and Metal content may not sum due to rounding and significant digits used in calculations. Cu Eq calculation is based on 100% recovery of all metals using the same metal prices used in the resource calculation: $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements" or "forward-looking information". All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper 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. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.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.
SOURCE: Granite Creek Copper Ltd.
Aben Minerals Receives Finalized Results from Airborne Geophysical Survey at the Justin Gold Project
https://ca.finance.yahoo.com/news/aben-minerals-receives-finalized-results-110000045.html
Aben Minerals
Mon, August 19, 2024 at 4:00 a.m. PDT·6 min read
ABNAF
-12.99%
Vancouver, BC, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26) (“Aben” or “the Company”) is pleased to announce that the final results have been received from the recently completed QMAGT geophysical survey at the 7,400 hectare, 100% owned Justin Gold Project in the Yukon Territory. The Justin Property is host to widespread prolific gold mineralization in the form of sheeted veins, vein arrays and breccias, stockworks and skarn hosted precious metal mineralization, yet the Property remains under-explored. The QMAGT survey was flown over the Lost Ace and POW zones, the two main gold (Au) mineralized areas at Justin, as well as the highly prospective area between them.
President and CEO Riley Trimble states, “The results from the 2024 airborne geophysical survey combined with historical drilling will be used to plan a comprehensive drill program at the Justin Gold Project. The project has two distinct types of gold mineralization within the Tombstone belt – intrusion related at POW zone and orogenic at Lost Ace. We are planning to drill test both target zones as well as the area between where these systems potentially meet. Our objective is to become a key company in this region of the Tombstone Gold Belt as we believe it could become a major gold district within the Yukon.”
Target Zones at Justin
The Lost Ace and POW zones are located 2 kilometers apart and offer two distinct mineralization styles. The POW zone is interpreted to be an Intrusion Related Gold System (IRGS) with precious metal mineralization hosted within and adjacent to the Justin Stock, a mid-Cretaceous intrusive body located at the southern end of the well-endowed Tombstone Gold Belt. Historic drilling at the POW zone has returned 1.25 g/t Au over 60.0 m (JN11-009) and 2.52 g/t Au and 29.5 g/t Ag over 12.0 m (JN11-010). The Justin Stock, part of the prolific Tombstone-Tungsten Plutonic Suite, has created a large alteration aureole and robust hydrothermal system over large portions of the Justin claim block.
The Lost Ace zone represents an Orogenic Gold System with gold hosted in quartz-arsenopyrite-pyrite stockworks found at the contact between quartz feldspar pebble conglomerates and fine-grained phyllitic rocks. This type of mineralization is remarkably similar in style and geologic setting to the immediately adjacent 3 Aces Project, owned by Seabridge Gold. A network of well-developed NNE and NW-SE faults have served as conduits for precious metal bearing fluids emanating from the Justin Stock and other buried intrusive bodies in the area. The proximity of these two distinct mineralization styles highlights the potential for the Justin Property to host overprinting mineralizing systems.
Justin Gold Project Location
Please click to view image
2024 QMAGT Survey
The QMAGT is a state-of-the-art geophysical survey technology with a proven track record in mineral exploration. The survey data provides detailed directional information with enhanced image quality that will be utilized to define high-priority targets for a planned drill program. The high-quality geophysical data will enable Aben personnel to define the location of fault structures (fluid pathways) and strongly magnetic geologic bodies (magnetite-bearing skarn). The annotated magnetic response image below depicts the prevalence of the NNE and NW-SE oriented fault structures that have conducted mineralized fluid outboard of the Justin Stock, located at the bottom margin of each image. Both the Lost Ace and POW zones are located in areas that host complex structural intersections alongside bodies with strong magnetic response. The region between the two zones hosts coincident geophysical and geochemical (gold in soil) anomalies but remains under-explored and undrilled. In 2019, a rotary air blast (RAB) drill was used for the initial drill test of the Lost Ace zone, but the presence of abundant near-surface groundwater hampered the effort and limited the holes to < 35 m depth. Future drill programs will focus on expanding the existing gold mineralization at POW, properly testing the Lost Ace zone, and evaluating highly prospective targets in the area between the two zones.
QMAGT Images from Airbourne Survey
Please click to view image
Pow Zone Drilling and 2024 QMAGT Survey
Please click to view image
Justin Gold Project
The 7,400-hectare Justin Gold property is 100% owned by Aben Minerals Ltd located in the southeast Yukon in the Tintina Gold Belt and adjacent to Seabridge Gold’s 3 Aces Project. Aben has drilled a total of 4972.0 metres in 21 diamond drill holes across four zones of interest. Drilling in 2011 and 2012 at the POW Zone successfully discovered:
Hole JN11009: 1.25 g/t Au over 60.0m (including 2.47 g/t Au over 21.0m)
Hole JN11010: 2.52 g/t Au and 29.53 g/t Ag over 12.0m
Additionally, trenching in 2018 at the Lost Ace Zone, located 2 kilometers northwest along strike from the POW Zone returned values ranging from trace to 20.8 g/t gold over 4.4m including 88.2 g/t gold (Au) over 1.0m. The discovery at Lost Ace highlights the existence of a multi-phase hydrothermal system with the potential for overprinting mineralizing systems.
For further information regarding the project, please refer to the NI 43-101 Technical Report – Justin Gold Project 2021.
Qualified Person
Cornell McDowell, P.Geo., V.P. of Exploration for Aben Minerals, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.
About Aben Minerals:
Aben Minerals is a Canadian gold exploration company with exploration projects in the Yukon Territory and British Columbia. The Company’s goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions. The Company has 18.7 million shares outstanding.
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For further information on Aben Minerals Ltd. (TSX-V: ABM), visit our Company’s website at www.abenminerals.com.
ABEN MINERALS LTD.
“Riley Trimble”
___________________
Riley Trimble
President & CEO
For further information contact: Aben Minerals Ltd.
Riley Trimble, President & CEO
Telephone: 604-639-3852
Facsimile: 604-687-3119 Email: info@abenminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Silver North Provides Tim Drilling Progress Update
Drilling indicates the presence of a Carbonate Replacement (“CRD”) style system at Tim
Program Expanded to include airborne geophysical surveys
Over 1,300 m of planned 2,000 m of drilling completed to date
Management recently completed site visit
https://thenewswire.com/press-releases/1kWVF4Yga-silver-north-provides-tim-drilling-progress-update.html
Vancouver, BC, August 19, 2024 – TheNewswire – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to provide an update on 2024 Yukon exploration activities at the Tim silver property. The Tim Property is under option to, and operated by, Coeur Mining, Inc. (“Coeur” NYSE-CDE), which is funding the 2024 program. To date, over 1,300 metres of drilling in four holes have been completed.
“We are extremely pleased with Coeur’s progress to date at Tim,” stated Rob Duncan, VP Exploration for Silver North after a recent site visit to the Tim Property. “Given that the Wolf Fault has been identified in several historic trenches, in the current drillholes and anomalous soil geochemistry over a cumulative strike length of >2 km, we believe that the Tim project displays the necessary characteristics of a potentially productive CRD system. We are eagerly awaiting the analytical results from this program, which are expected to be received in October.”
Diamond drilling at the Tim Property commenced at the end of June, testing the potential for stratiform (manto) and structural (chimney) style Carbonate Replacement Deposit (“CRD”) mineralization. Drilling at Tim is primarily targeting the Wolf Fault, a northwest striking and steeply southwest dipping structure that parallels the regionally significant Kechika Fault, which can be traced from the Silvertip land package through Tim and Silver North’s Veronica Project (recently acquired via option). Large conductivity anomalies defined by SkyTEM airborne geophysical data are associated with the Wolf Fault, as is silver mineralization and/or heavily oxidized fault breccias in historical trenches.
All 4 holes drilled to date have intersected the strongly oxidized Wolf structure and/or parallel splays of it. The Wolf Fault is noted to emplace overlying Kechika phyllite and argillites in fault contact with the underlying prospective Rosella Limestone Formation. At depth, parallel structures to the Wolf Fault are seen within the argillites of the Boya Formation that underlie the Rosella limestones. Geological and structural features that have been observed in the drilling to date consist of diagnostic features that are commonly associated with significant CRD mineralization and have been observed at the Silvertip deposits. Such characteristics include fugitive calcite veining that fluoresces in UV light (displaying the classic “barbeque” pink and orange fluorescence) and re-crystallization of the host limestones. These features suggest that the Wolf Fault target at Tim could be part of a productive CRD system.
Click Image To View Full Size
Coeur has indicated it is planning to complete six holes for a total drilled meterage of approximately 2,200 m. In addition to the drilling, Coeur will also be undertaking two additional detailed airborne geophysical surveys over the entire project consisting of magnetics and radiometrics surveys and a Mobile MT survey that has the potential to detect conductive features at much greater depths than the recent SkyTEM airborne survey of the property. These elements represent an expansion of the planned 2024 exploration program. The current program is expected to wrap up by early September.
The 2024 program is conducted under the direction of Coeur’s exploration team based at Silvertip, under the terms of an option agreement granting Coeur the right to earn a 51% interest in the property by completing a minimum of $3.15 million in additional exploration expenditures and making additional cash payments to Silver North totalling $275,000 by December 31, 2026. Coeur can bring its interest to 80% by making additional cash payments of $100,000 per year in 2027 and 2028, completing a positive feasibility study and informing Silver North of its intention to develop a mine at Tim by December 16, 2028. Under this agreement, Coeur must fund a minimum $700,000 program in 2024. Tim is road accessible via 25 km of 4 x 4 access off the Silvertip Mine Road.
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.’s Keno Hill Mine project) and the Tim silver project (under option to Coeur Mining, Inc.).
The Company is listed on the TSX Venture Exchange under the symbol “SNAG”, trades on the OTCQB market in the United States under the symbol “TARSF”, and under the symbol “I90” on the Frankfurt Stock Exchange.
Mr. Jason Weber, P. Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://x.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
Victoria Gold Announces Appointment of Receiver over Victoria Gold Corp.
https://ca.finance.yahoo.com/news/victoria-gold-announces-appointment-receiver-012200432.html
Victoria Gold Corp
Wed, August 14, 2024 at 6:22 p.m. PDT·5 min read
VITFF
0.00%
WHITEHORSE, Yukon, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) announces today that, further to the Company's news release dated August 14, 2024, the Ontario Superior Court of Justice (Commercial List) has granted an order appointing PricewaterhouseCoopers Inc. as the receiver and manager of Victoria Gold Corp. including, without limitation, all property, assets and undertakings in which the Respondent has an interest, including the real property which includes but is not limited to the Eagle Gold Mine located in Dublin Gulch, Yukon, Canada.
The Company expects that the TSX will immediately suspend the common shares of the Company from trading and initiate and expedite a delisting review.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year round, and is located within Yukon Energy's electrical grid. The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle Gold Mine.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". Except for statements of historical fact relating to Victoria, information contained herein constitutes forward-looking information, including any information related to the HLF incident and the Company's response to the Application. Forward-looking information is characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will”, “could” or “should” occur, and includes any guidance and forecasts set out herein (including, but not limited to, production and operational guidance of the Corporation). In order to give such forward-looking information, the Corporation has made certain assumptions about its business, operations, the economy and the mineral exploration industry in general. In this respect, the Corporation has assumed that production levels will remain consistent with management’s expectations, contracted parties provide goods and services on agreed timeframes, equipment works as anticipated, required regulatory approvals are received, no unusual geological or technical problems occur, no material adverse change in the price of gold occurs and no significant events occur outside of the Corporation's normal course of business. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those described in, or implied by, the forward-looking information. These factors include the impact of the HLF incident on the Corporation’s business and financial condition, risks related to liquidity and credit availability resulting from the indefinite suspension of production at the Eagle Gold Mine, the outcome of the Application, the values of assets and liabilities based on projected future conditions, potential resumption of metals production, fluctuating metal prices, currency exchange rates, estimated ore grades, possible variations in ore grade or recovery rates, changes in economic model as a result of unanticipated costs associated with the HLF incident, changes in accounting policies, changes in Victoria's corporate resources, changes in project parameters as plans continue to be refined, changes in development and production time frames, the possibility of cost overruns or further unanticipated costs and expenses, uncertainty of mineral reserve and mineral resource estimates, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, further failures of plant, equipment or processes to operate as anticipated, final pricing for metal sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, requirements for additional capital, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcomes of pending litigation and labour disputes, risks related to remote operations and the availability of adequate infrastructure, fluctuations in price and availability of energy and other inputs necessary for mining operations. Although Victoria has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. 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 reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Victoria's expected financial and operational performance and Victoria's plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Corporation as at the date hereof. The Corporation undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For Further Information Contact:
John McConnell
President & CEO
Victoria Gold Corp
Tel: 604-696-6605
ceo@vgcx.com
Prospector Reports High-Grade Au-Ag-Cu in First Assays from the Ml Project, Yukon: Newly Identified Mineralized Corridor Extends at Least 15 km Along Trend
Select sample highlights include:
Cirque Area yielded 21.68 g/t Au and 17.01 g/t Au from sheeted quartz +/- tourmaline veins hosted within porphyritic intrusive rocks (never drilled).
Bueno Area results include 34.64 g/t Au, 12.09 g/t Au, and 7.42 g/t Au and 1.8 % Cu hosted in porphyry dykes and calc-silicate altered limestone from a series of north trending structural zones (never drilled).
Rubble Area assays up to 13.46 g/t Au,1.87 g/t Au and 3.3% Cu within a broad low lying zone interpreted to be located at the intersection of two key structural trends (never drilled).
Java Area yielded 5.91 g/t Au and 3.21 g/t Au, 2.24% Cu and 49.16 g/t Ag; located along an interpreted north trending splay extending through the previously defined North Zone.
https://www.newsfilecorp.com/release/220001
August 15, 2024 7:00 AM EDT | Source: Prospector Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") is pleased to report initial assay results from the 2024 exploration program at the ML Project located approximately 80 km from Dawson City, Yukon Territory.
During the 4-week program, a total of 520 rock grab and chip samples were collected across the property to establish the extent of the surface expression of known zones as well as sample new areas with unknown mineral potential. This news release reports results from the first 133 samples with assays from below detection to 34.64 g/t Au, 3.3 % Cu, 420 g/t Ag. The remaining sample results will be released when assays are received.
Key Point Summary
Field mapping and prospecting by the Company revealed that high-grade Au-Ag-Cu bearing veins occur in a newly defined structural corridor that extends >15km across the claim block. This fundamental regional-scale feature is defined by a corridor of increased near-vertical fracturing and hydrothermal alteration associated with gold-bearing veins. These fracture zones cut every rock type and appear to form major dilation zones along contact zones with intrusive bodies.
Diagnostic trace element signature of As-Te-Bi-Sb is also observed with mineralized veins and provides a useful tool build geochemical vectors for further exploration, as well as insights into the fluid sources and genesis of the mineralization.
LiDAR and World View 3 datasets were successfully acquired, and final imagery will be posted once processing has been completed.
Assays for 133 samples are reported here and results are pending for an additional 387 rock samples to be release when available.
A map with new assay results and the broad structural corridor at the ML Project is located here.
"Our maiden field program at ML successfully established the presence of an extensive and high-grade mineralizing system on the claim block" stated Prospector CEO Rob Carpenter. "Our team has cracked the code and assembled a predictive geological framework based on structural geology, geochemistry and geophysics which will allow us to fingerprint and prioritize drill targets for 2025 We are still waiting for results from an additional 387 rock samples, and we anticipate being able to connect a number of zones along trend".
2024 ML Field Program
The 2024 field program on the ML property encompassed:
520 rock grab and chip samples and initial geologic and structural mapping.
high-resolution LiDAR: Processing underway
WorldView-3 remote sensing survey: Processing underway
Samples from the three known intrusive centers have been submitted for whole rock analysis and age dating.
The work was completed to assess multiple known historic prospects across the property, including previously underexplored intrusion hosted targets, and gain an understanding of key structural and lithologic controls on mineralization, with an ultimate goal of defining future drill targets. Based on the work, the Company noted a series of steeply dipping NNE trending and E-W trending structural corridors that transect the property and appear to be a primary control on mineralization in all rock types.
To date, results for 133 samples have been received and returned results below detection to 34.64 g/t Au, to 420 g/t Ag, and to 3.3% Cu. In addition, some samples contained highly anomalous As, Bi, Pb, Sb, Te, and/or Zn. These results represent partial results from four target areas: Cirque Trend; Bueno Trend; Rubble Trend; and the Java Trend discussed in more detail below:
Cirque Area
Results for 12 samples from the Cirque area have been received to date. The samples ranged from trace to 23 g/t Au with three samples returning >10 g/t Au with strongly anomalous As, Bi, Cu, Sb, and Te. The mineralization is hosted within sheeted veins and fractures within a feldspar porphyritic syenite. Individual veins ranging from mm scale to 10cm thick and are associated with disseminated to massive arsenopyrite, chalcopyrite, and pyrite with quartz +/- tourmaline, tremolite, and chlorite. Mineralization appears to be most concentrated near the margin of the intrusion, within a strong ESE - WNW structural corridor.
Bueno Area
Results for 21 samples from the Cirque area have been received to date. The samples ranged from trace to 34.64 g/t Au with two samples returning >10 g/t Au with strongly anomalous Ag (up to 57.03 g/t Ag), As, Bi, Cu (up to 1.8%), Sb, and Te. The Bueno Trend consists of hornfelsed to calc-silicate altered limestone and metasedimentary rocks cut by a series of steeply dipping NNE trending high angle structures and feldspar porphyry dikes. Mineralization is characterized vein and fracture controlled fine grained arsenopyrite, chalcopyrite and pyrrhotite, as well as disseminated medium to coarse euhedral arsenopyrite.
Rubble Area
Results for 20 samples from the Cirque area have been received to date. The samples ranged from trace to 13.46 g/t Au, up to 63.91 g/t Ag, and up to 3.3% Cu with strongly anomalous As, Bi, Sb, and Te. Mineralization on the Rubble trend is hosted within porphyritic intrusive rocks and adjacent calc-silicate altered limestone, at the intersection of WNW-ESE and NNE-SSW trending structural corridors. Multiple orientations of sheeted veins and fractures within the porphyritic intrusive rocks contain tourmaline, arsenopyrite, chalcopyrite, and pyrite. Within the calc-silicate altered limestone, axinite is commonly associated with the arsenopyrite, chalcopyrite, pyrite assemblage, instead of tourmaline.
Java Area
Results for 45 samples from the Java area have been received to date. The samples ranged from trace to 5.91 g/t Au, up to 49.16 g/t Ag, and up to 2.24% Cu with strongly anomalous As, Bi, Sb, and Te. The Java Trend consists of multiple horizons of calcareous interbedded coarse sandstone and quartz pebble conglomerates replaced by Fe-carbonate, limonite, tremolite, and pyroxene. Mineralization is characterized by late silicification, including open space quartz veins, with disseminated to massive arsenopyrite, and lesser chalcopyrite and pyrrhotite. Tourmaline occurs within veins and fractures. Porphyritic intrusive and gabbroic dykes cross-cut the metasedimentary rocks, with NNE-SSW and E-W orientations.
Other Areas
Results from 3 angular boulder/talus samples south and southeast of the Bueno area returned highly anomalous Ag (36.38 to 420 g/t), Pb (0.3 to 10.52%), and Zn (0.4 to 11%) and are likely associated with proximal bedrock hosted mineralized zones. The mineralization is hosted in gossanous hornfelsed black argillite with disseminated to massive arsenopyrite, pyrrhotite, chalcopyrite, galena, and sphalerite. These base metal concentrations may represent a previously unrecognized polymetallic sulfide horizon and are similar to historic showings approximately 1.2km south in the Lorrie Lake area. Two additional samples from the area with silver - base metal mineralization returned anomalous gold values of 1.03 g/t Au and 3.41 g/t Au. The results of additional samples are pending.
Figure 1. New Assay Results from Grab and Chip Samples at the ML Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1564/220001_7d7bf027e4a2dade_002full.jpg
31 g/t Au at Bueno
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https://images.newsfilecorp.com/files/1564/220001_1.jpg
23 g/t Au at Cirque
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https://images.newsfilecorp.com/files/1564/220001_2.jpg
Fracture Sets at Bueno
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https://images.newsfilecorp.com/files/1564/220001_3_500.jpg
Java and Cirque Areas
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https://images.newsfilecorp.com/files/1564/220001_4.jpg
ML Project Overview
Historical exploration of the ML Project has outlined numerous areas of interest that are loosely defined by a combination of geographic location, host lithology, mineralization type, geochemical signature and/or geophysical response (Figure 1), including intrusion hosted gold (+copper) style, replacement-skarn style, and high-grade vein targets. In addition, there are multiple relatively unexplored mineral occurrences, many of which are high grade gold targets. A total of 117 diamond drill holes have been drilled property wide, testing six property targets. From 2005 to 2008, Dynamite Resources drilled 114 of these holes, with 23 holes at the North Vein Zone (a gold enriched skarn-replacement target) and 71 holes at Skarn Ridge (a gold - copper skarn-replacement target).
The Property hosts numerous other targets of interest which have a variety of intriguing characteristics, such as high-grade rock-soil samples, highly anomalous trench samples, unique geophysical signatures, and large areas of alteration. Additionally, there remain large parts of the property that have received little or no exploration and evaluation. Several of the lesser-known mineralized areas have undergone only cursory assessment by previous operators, thus present very attractive targets.
The property has an impressive technical data base which includes property wide airborne geophysics, satellite imagery, extensive soil and rock sampling, prospecting, selective ground geophysics, and diamond drilling (+16,700m over 117 holes). Most of this exploration took place from 2004 to 2008, a period when most drilling was focussed on two specific skarn/replacement type targets: Skarn Ridge (71 drillholes) and North Vein (23 drillholes).
Assay Methodology & QA/QC
The analytical work on the ML project was performed by MSALABS, an internationally recognized analytical services provider, located in Langley, British Columbia. All rock samples were prepared using procedure PRP-910 (Dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-221 (50g fire assay with AAS finish) and IMS-230 (0.25g, 4-acid digest and ICP-MS analysis). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn were reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis).
The reported work was completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no QA/QC issues.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, P.Geo. Advisor to Prospector, and a Qualified Person as defined under National Instrument NI 43-101 ("NI 43-101").
About Prospector Metals Corp.
Prospector Metals Corp. is a Discovery Group Company focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Ontario, Canada - a Tier-1 mining jurisdiction with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders, and seeking to develop partnerships and agreements that are mutually beneficial to all stakeholders.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at www.prospectormetalscorp.com or contact Dr. Rob Carpenter at 604-354-6415 or by email at info@prospectormetalscorp.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances necessary to carry out the Company's exploration plans and risks of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Prospector Metals Corp.
Forge Resources Announces Discovery of Further Porphyry Style Mineralization at Untested Areas, Expands Land Package by 55%, Alotta Project, Yukon
https://www.newsfilecorp.com/release/219772
August 13, 2024 8:30 AM EDT | Source: Forge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ)
WESTERN COPPER AND GOLD PROVIDES PROJECT UPDATE
https://www.newswire.ca/news-releases/western-copper-and-gold-provides-project-update-893319651.html
Western Copper and Gold Corporation Aug 12, 2024, 06:45 ET
VANCOUVER, BC, Aug. 12, 2024 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) through its wholly-owned subsidiary, Casino Mining Corporation ("Casino") has submitted to the Yukon Environmental and Socio-Economic Assessment Board ("YESAB") Executive Committee an updated and refined schedule for submission of the Environmental and Socio-economic Effects Statement ("ESE Statement") for the Casino Mine Project. The ESE Statement will form the basis for the Company's assessment application for the Panel Review and will include all the material outlined in the Revised ESE Statement Guidelines issued on September 12, 2023.
In the schedule, Casino indicates that it plans to submit the ESE Statement in or around July 2025, which is an update from the previously estimated submission date of the second half of 2024. Ongoing detailed review of the guidelines during the winter of 2023, followed by updated work planning and schedule mapping of our technical consultants, in conjunction with further conversations and development of engagement plans with First Nations, have led to have a clearer picture of the level of effort and associated timelines to produce our ESE Statement.
"Western is committed to ensuring a robust review of the Casino project, as the first and only project in the Yukon going through the highest level of review and relying on the most up to date methodologies in environmental assessment." stated Sandeep Singh, Chief Executive Officer. "It was paramount to me when I joined that I became comfortable with our permitting plan before launching into the panel review process and that we were well funded to navigate the assessment process successfully.
We look forward to compiling all the hard work and proper science that has already gone into the project and moving steadily towards submission. We also continue to closely monitor the situation in the Yukon following the Eagle mine failure. The Company welcomes the proposed investigation of the failure and believe that Casino's assessment timeline will more than allow for the incorporation of any lessons learned through that process.
We are confident that the Casino project can be a sustainable critical minerals asset for the Yukon, and can be the type of mine that helps improve the Yukon's mining legacy, to the benefit of all Yukoners."
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.
The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.
For more information, visit www.westerncopperandgold.com
On behalf of the board,
"Sandeep Singh"
Sandeep Singh
Chief Executive Officer
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-Looking Statements and Information
This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Certain forward-looking information should also be considered future-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to provide a general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers are cautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: mineral resource and reserve estimation; mine plan and operations; internal rate of return; sensitivities; net present value; potential recoveries; design parameters; economic potential; processing mineralized material; the potential of robust economics at Casino; advancing the Project through additional engineering and towards the next step in permitting and submission of an environmental and socio-economic effects statement; key changes to the TMF design; increases to the gold recovery in the heap leach; potential economic returns from the Project; estimated initial capital investment costs; estimated operating costs; estimated mining costs; development of the airstrip and all weather access road; anticipated concentrate handling service charges; developing and operating the Project in a safe, ethical and socially-responsible manner; plans for further development and securing the required permits and licenses for further studies to consider operation; market price of precious and base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.
Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.
Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, 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 otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
SOURCE Western Copper and Gold Corporation
Rackla Metals completes drill program at Astro Plutonic Complex
https://thenewswire.com/press-releases/1AqRFnd5O-rackla-metals-completes-drill-program-at-astro-plutonic-complex.html
Vancouver, British Columbia – TheNewswire - August 12, 2024 – Rackla Metals Inc. (TSX-V: RAK) (the “Company ”) announces that it has completed the follow-up drill program at both the HIT and the Peak targets within the Astro Plutonic Complex (“APC”).
At HIT the aim of the follow-up program was to attempt to vector towards higher grades from the broad low grade sheeted vein zones intercepted in the 2023 program, testing the area to the SE and NW, and below 2023 holes HIT-003 and HIT-004. Unfortunately, the step out drilling returned much weaker sheeted veining in the intrusive core and while full results are not yet returned, further drilling is not justified on the target at this point. A photogrammetry survey and extensive surface sampling and mapping program have been completed this year. The results of this work will be combined with the airborne geophysics flown in 2023 to define further targets at HIT.
The Company also drill tested a new target at Peak, where sediment hosted veins overlie the Kelvin Stock granite. Sheeted veining at surface within the sedimentary rocks had returned grades up to 17 g/t Au in Quartz/As/Bi veins with many multi-gram samples. The aim of the drill program at Peak was to test the sheeted vein zone down dip below the sediments and within the intrusive. The veins defused at the sedimentary/Intrusive contact into weak-stock working with sub-economic gold values.
Work continues at the Cirque target in the Kelvin stock, where follow-up work from 2023 anomalous gold in talus fines has discovered a stockwork of flat lying and vertical quartz/tourmaline/arsenopyrite veins in the western margins of the stock. Results from this sampling are pending.
The Rackla team is also carrying out an extensive soil sampling and prospecting program on its Black and Flat properties in the southeastern Tombstone Gold Belt surrounding the Cantung deposit.
Rackla has added new concessions to its portfolio by staking the Grad Property 60 km southeast of the APC. The minimal prospecting done on these claims has already identified intrusion-hosted multiphase veining. More geochemical sampling and prospecting on Grad will be carried out in the coming weeks to advance this exciting new property.
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting Reduced Intrusion-Related Gold Systems (RIRGS) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, the Company’s future exploration activities; and general business and economic conditions. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company, its properties or its securities; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Snowline Gold Drills 471.6 M of 2.4 Grams Per Tonne Gold from Surface And 325.0 M of 2.6 Grams Per Tonne Gold from Surface, Highlighting Strong Grade Continuity at Its Valley Deposit, Rogue Project
Hole V-24-075, drilled at 180 degrees to recent highlight hole V-24-072, returned 471.6 m averaging 2.38 g/t Au, including 302.1 m of 3.20 g/t Au from surface, surpassing initial Valley deposit MRE block model grade predictions by +9%
Hole V-24-073 returned 325.0 m averaging 2.57 /t Au, including 136.0 m averaging 4.84 g/t Au from surface, slightly outperforming the model near surface
Widespread alteration and associated oxide + sulphide mineralization along with granodiorite dikes seen in first-ever drilling of Aurelius target, Rogue Project
Updated NI 43-101 technical report filed for Snowline's Einarson Project, Yukon.
https://www.accesswire.com/897313/snowline-gold-drills-4716-m-of-24-grams-per-tonne-gold-from-surface-and-3250-m-of-26-grams-per-tonne-gold-from-surface-highlighting-strong-grade-continuity-at-its-valley-deposit-rogue-project
Wednesday, 07 August 2024 06:15 AM
VANCOUVER, BC / ACCESSWIRE / August 7, 2024 / SNOWLINE GOLD CORP (TSX-V:SGD)(OTCQB:SNWGF)
Victoria Gold: Update on HLF Incident Management
https://ca.finance.yahoo.com/news/victoria-gold-hlf-incident-management-100000128.html
Victoria Gold Corp
Tue, July 30, 2024 at 3:00 a.m. PDT·10 min read
VITFF
-3.47%
WHITEHORSE, Yukon, July 30, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) provides an update on the management of the heap leach facility (“HLF”) incident that occurred at the Eagle Gold Mine on June 24, 2024 (see Company news releases dated June 24, 2024, July 4, 2024, and July 12, 2024).
Safety
Victoria’s focus continues to be on the safety of its employees and mitigation of harm to the environment. As previously reported, the Company has and will continue to liaise with the Government of Yukon, the First Nation of Nacho Nyak Dun (“FNNND”), the Village of Mayo, the Yukon Workers’ Safety and Compensation Board and other regulatory authorities.
Each activity occurring on site where workers could potentially be exposed to risks related to the HLF incident undergoes a rigorous Job Hazard Analysis to ensure employees are working in a safe manner and under safe conditions. This includes designation of certain areas of the site as Restricted Zones pending the outcome of more detailed independent third-party geotechnical and related reviews. The Company has conducted a seismic survey, the results from which will aid in the assessment of the integrity of the HLF embankment. The Company has also established additional geotechnical monitoring initiatives. There has been no significant material movement on the HLF since the initial HLF incident.
Water Sampling
Victoria is actively sampling water daily from multiple sample locations at the Eagle Mine. Several of these sample locations are located downstream from the location of the HLF incident. As previously disclosed in Victoria’s news release dated July 12, 2024, the Company has detected trace amounts of cyanide in Haggart Creek downstream of the HLF incident. The majority of samples tested by the Company downstream of the HLF have not detected any cyanide. The Company has detected minor amounts of WAD cyanide in 7 of 134 samples collected as of July 23, 2024 downstream of the HLF incident in Haggart Creek. These results range from concentrations of 5.2 to 9.3 parts per billion WAD cyanide. The Company’s Downstream Water Quality Objectives pursuant to its Water Use License for cyanide are 5 parts per billion WAD cyanide.
For context, the Guidelines for Canadian Drinking Water Quality1 establish a maximum acceptable concentration (MAC) of 200 parts per billion free cyanide.
WAD cyanide includes the toxicologically important forms of cyanide, including free cyanide and moderately and weakly complexed metal-cyanides. Total cyanide includes free cyanide, WAD cyanide, and relatively non-toxic iron-cyanide complexes.
Water Management
Since the HLF incident, as previously disclosed, within hours of the HLF incident a pumping system was established to return contact water to lined containment ponds. The Company is also collecting and storing groundwater in lined containment ponds.
In addition, in order to further manage contact water at the Eagle Gold Mine, the Company is completing the expedited construction of additional lined water storage on site. This additional storage will supplement pre-existing lined water storage capacity at Eagle.
The Company, in consultation with independent third-party experts, has evaluated a number of water management strategies to minimize environmental impacts, with the safety of employees as a foremost priority. The Company and its third-party experts have determined that a modest irrigation strategy to the areas of the HLF that were not impacted by the HLF incident is a safe water management plan which will allow time for the Company to augment water treatment and discharge capacity at site and will avoid direct discharge of untreated water to the environment.
Water Treatment
In order to establish capacity to safely discharge water in compliance with its Water Use License, the Company has augmented its water treatment capacity on site. This includes the modification of piping, the addition of tankage and the procurement and installation of a Reverse Osmosis (“RO”) plant which will be used as a final stage of water treatment.
The existing infrastructure within the Mine Water Treatment Plant has been modified to allow inclusion of a breakpoint alkaline chlorination process for cyanide destruction and metals precipitation. This process utilizes sodium hypochlorite to oxidize cyanide with the resulting ammonia byproduct oxidized by chlorine to nitrogen gas.
The Company has successfully commissioned its augmented water treatment capacity and anticipates the commencement of treated water discharge in the coming days.
Root Cause Analysis
Investigations are underway to determine the cause of the incident. The Company has engaged with its engineer of record for the HLF and has retained multiple independent industry leading experts to conduct a Root Cause Analysis. In addition, the Company is cooperating with third-party technical experts retained by the Yukon Government and the FNNND.
Production operations remain suspended and may not restart without authorization from the Yukon Director of Mineral Resources. Victoria will continue to work to minimize impacts to the environment, with the safety of employees as a foremost priority. There can be no assurance that the Company will receive authorizations necessary to restart production, or that the Company will have the financial resources necessary to repair damage to equipment and facilities or remediate impacts caused by the incident or restart production. The Company will provide further updates in due course.
References:
1 - https://www.canada.ca/en/health-canada/services/environmental-workplace-health/reports-publications/water-quality/guidelines-canadian-drinking-water-quality-summary-table.html
And:
https://www.canada.ca/en/health-canada/services/publications/healthy-living/guidelines-canadian-drinking-water-quality-guideline-technical-document-cyanide.htm
Qualified Person
The technical content of this news release has been reviewed and approved by Paul D. Gray, P.Geo., who is a “Qualified Person” as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year round, and is located within Yukon Energy's electrical grid.
The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle and Olive Gold Deposits. As at December 31, 2023, and adjusting for mining depletion through this date, the Eagle and Olive Deposits include Proven and Probable Reserves of 2.3 million ounces of gold from 114 million tonnes of ore with a grade of 0.63 grams of gold per tonne. As at December 31, 2023, and adjusting for mining depletion through this date, the Mineral Resource for the Eagle and Olive Gold Deposits are estimated to host 234 million tonnes averaging 0.59 grams of gold per tonne, containing 4.4 million ounces of gold in the "Measured and Indicated" category, inclusive of Proven and Probable Reserves, and a further 36 million tonnes averaging 0.63 grams of gold per tonne, containing 0.7 million ounces of gold in the "Inferred" category.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". Except for statements of historical fact relating to Victoria, information contained herein constitutes forward-looking information, including any information related to and the HLF incident, health, safety and environmental impact matters relating to the HLF incident, the results of Victoria’s engagement efforts with the Government of Yukon and applicable regulatory authorities, as well as the FNNND, the results of the ongoing investigation into the causes of the failure at the heap leach facility, plans for remediating the impact of the HLF incident and other related matters. Forward-looking information is characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will”, “could” or “should” occur, and includes any guidance and forecasts set out herein (including, but not limited to, production and operational guidance of the Corporation). In order to give such forward-looking information, the Corporation has made certain assumptions about its business, operations, activities relating to the HLF incident, the economy and the mineral exploration industry in general. In this respect, the Corporation has assumed that production at the Eagle Gold Mine will remain suspended indefinitely pending the results of the investigation into the causes of the failure at the heap leach facility and the successful conclusion of ongoing engagement and discussions with the Government of Yukon, the FNNND and the Corporation’s other stakeholders, no unusual geological or further technical problems occur, no material adverse change in the price of gold occurs and no further significant events occur outside of the Corporation's normal course of business. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those described in, or implied by, the forward-looking information. These factors include the impact of the HLF incident on the Corporation’s business and financial condition, risks related to liquidity and credit availability resulting from the indefinite suspension of production at the Eagle Gold Mine, the values of assets and liabilities based on projected future conditions, potential resumption of metals production, fluctuating metal prices, currency exchange rates, estimated ore grades, possible variations in ore grade or recovery rates, changes in economic model as a result of unanticipated costs associated with the HLF incident, changes in accounting policies, changes in Victoria's corporate resources, changes in project parameters as plans continue to be refined, changes in development and production time frames, the possibility of cost overruns or further unanticipated costs and expenses, uncertainty of mineral reserve and mineral resource estimates, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, further failures of plant, equipment or processes to operate as anticipated, final pricing for metal sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, requirements for additional capital, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcomes of pending litigation and labour disputes, risks related to remote operations and the availability of adequate infrastructure, fluctuations in price and availability of energy and other inputs necessary for mining operations. Although Victoria has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. 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 reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Victoria's expected financial and operational performance and Victoria's plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Corporation as at the date hereof. The Corporation undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For Further Information Contact:
John McConnell
President & CEO
Victoria Gold Corp
Tel: 604-696-6605
ceo@vgcx.com
White Gold Encounters Highest Gold Values to Date and Doubles Strike Length of the Newly Discovered Gold-In-Soil Anomaly to 2.2 km on the QV Property and Prepares for Maiden Diamond Drill Program
https://ca.finance.yahoo.com/news/white-gold-corp-encounters-highest-110000112.html'
White Gold Corp.
Thu, August 1, 2024 at 4:00 a.m. PDT
Cascadia Samples 1,065 g/t Gold and 267 g/t Silver in Outcrop at the Amp Epithermal Zone, Catch Property, Yukon
https://www.newswire.ca/news-releases/cascadia-samples-1-065-g-t-gold-and-267-g-t-silver-in-outcrop-at-the-amp-epithermal-zone-catch-property-yukon-873082646.html
Cascadia Minerals Ltd. Jul 25, 2024, 08:00 ET
VANCOUVER, BC, July 25, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce prospecting results from the Phase 1 exploration program at the Catch Property in Yukon. A Phase 2 exploration program is currently underway at Catch, with additional prospecting, mapping, diamond drilling and Induced Polarization ("IP") surveys.
Catch Prospecting Highlights
Catch Magnetics and Amp Zone (CNW Group/Cascadia Minerals Ltd.)
Prospecting at the Amp Zone, located 1 km north of the recently released drilling at the Spark Zone, returned the highest gold and silver grades on the project to-date, including a 0.9 kg outcrop sample which returned 1,065 g/t gold and 267 g/t silver (Figures 1, 2);
A second sample from a different portion of the same outcrop returned 47.2 g/t gold and 19.3 g/t silver in a 1.4 kg sample (Figure 3);
The mineralization is associated with strong silicification, abundant pyrite and quartz-calcite veins and provides evidence of a large and fully preserved epithermal target associated with the nearby porphyry system;
An expanded IP survey is scheduled to commence shortly, which will extend coverage over the Amp Zone to aid in future diamond drill targeting; and
Prospecting crews are on-site to conduct follow-up work at the Amp Zone and elsewhere on the property.
"The discovery of such high-grade epithermal gold mineralization over 1 km north of a new drill-confirmed porphyry discovery is a significant development for us. Epithermal gold-silver mineralization is often associated with porphyry systems but not always preserved. The Amp Zone represents another distinct target on this district-scale property," stated Cascadia's president and CEO, Graham Downs. "I would like to commend and congratulate our team for their hard work and determination in making new prospecting discoveries across the 119 km2 property, with much of it still awaiting systematic evaluation. Crews are excited to be back at Catch and will be continuing to follow up on the Amp Zone and other targets while drilling is underway at Spark. In addition to our ongoing drill programs at Catch and PIL, soil sampling and prospecting is now underway at the Sands of Time, Macks Copper, and Milner properties, which all have early-stage copper-gold porphyry potential."
Figure 1 – Catch Magnetic Intensity
Figure 2 – Amp Zone Rock Photo 1
Figure 3 – Amp Zone Rock Photo 2
Amp Zone Prospecting Results
The 2024 Phase 1 exploration program at Catch comprised prospecting, mapping, and diamond drilling. Three diamond drill holes totaling 1,613 meters were drilled at the Spark Zone (see news release dated July 22, 2024), and a total of 89 rock samples were collected.
Follow up prospecting focused on the Amp Zone, which was discovered late in the 2023 field season. The Amp Zone is located between the Spark and Volt Zones, approximately 1 km north of this season's diamond drilling at Spark, within a broad 5 km long copper-in-soil anomaly (Figure 1).
In 2023, prospecting samples at Amp returned 0.21% copper with 4.82 g/t gold from outcrop. Follow up work in 2024 at the same outcrop returned 1,065 g/t gold with 267 g/t silver (0.9 kg sample) and 47.2 g/t gold with 19.3 g/t silver (1.4 kg sample). The gold-silver mineralization is hosted within a highly silicified basalt with up to 10% pyrite and is associated with elevated arsenic and antimony geochemistry, suggesting it is epithermal in nature.
The Amp Zone also exhibits significant copper mineralization in rock samples, with a 2023 subcrop sample 60 m northwest of the high-grade gold-silver outcrop returning 1.68% copper with 0.72 g/t gold and another 2023 sample returning 2.13% copper in outcrop. There are 16 rock samples at the Amp Zone that have returned over 0.10% copper and are associated with feldspar porphyry dykes and propylitic altered basalt. Samples to date are suggestive of the potential for both copper-gold porphyry at depth and epithermal gold-silver mineralization at surface at the Amp Zone.
Previous Induced Polarization ("IP") geophysical surveys were focused on the Spark and Volt Zones, and did not provide coverage at the Amp Zone. This IP grid will be extended to cover the Amp Zone during the ongoing 2024 Phase 2 exploration program.
Diamond drilling is underway at the Spark Zone, see news release dated July 22, 2024 for details.
Catch Property Geology and Mineralization
The 119 km2 Catch Property is located in central Yukon, 50 km southeast of the town of Carmacks, within the traditional territory of the Little Salmon Carmacks First Nation, in an underexplored part of the Stikine terrane – a key geological terrane which extends from the Golden Triangle in British Columbia into Yukon. It is immediately adjacent to the 1,000+ km long, deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.
Catch is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km regional magnetic high. Copper gold porphyry mineralization is associated with potassic to sericitic alteration of basalt, diorite, feldspar porphyry and gabbro and lesser intrusion breccias and hydrothermal breccias. Secondary copper minerals including malachite, azurite and tenorite are widespread at surface, and coat fracture surfaces.
Catch is under option from a Yukon prospector, and Cascadia can earn up to a 100% interest. For more information, see the Catch Property Technical Report filed on SEDAR+ at www.sedarplus.ca under the Cascadia Minerals Ltd. profile.
QA/QC
Analytical work for rock samples was completed by ALS Canada Ltd., with sample preparation in Whitehorse, Yukon and geochemical analyses in North Vancouver, BC. Samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Rock samples were analyzed for gold by the Au-AA23 procedure which involves fire assay preparation using a 30-gram charge with an atomic absorption spectroscopy finish. Multi-element data for 48 elements was determined by the ME-MS61 procedure, which involves a four-acid digestion followed by inductively coupled plasma – atomic emission spectrometry ("ICP-AES") and inductively coupled plasma-mass spectrometry.
Overlimit values for gold were determined by the Au-GRA21 procedure which involves fire assay preparation using a 30-gram charge with a gravimetric finish. Overlimit values for copper and silver were determined by the Cu-OG62 and Ag-OG62 procedures which involve a four-acid digestion followed by ICP-AES analysis.
Gold samples assaying over 30 g/t gold were re-analyzed with the Au-SCR21 technique, which involves screening of 1 kg of pulverized sample at 100 microns. Oversize material was analyzed in entirety by fire assay with gravimetric finish. Undersize material was analyzed in duplicate by fire assay with atomic absorption spectroscopy finish. Results of the oversize and undersize assays were combined to provide the final reported numbers provided in this release.
Results referenced in this release represent highlight results only. Below detection values for gold and copper have been encountered in soil and rock samples in these target areas.
The technical information in this news release has been approved by Adam Coulter, M.Sc., P.Geo., VP Exploration for Cascadia and a qualified person for the purposes of National Instrument 43-101.
About Cascadia
Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries the Yukon and British Columbia. Cascadia's flagship Catch Property in the Yukon hosts a brand-new copper-gold porphyry discovery where inaugural drill results returned broad intervals of mineralization, including 116.60 m of 0.31% copper with 0.30 g/t gold. Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with rock samples returning peak values of 3.88% copper and 1,065 g/t gold.
In addition to Catch, Cascadia is currently drilling the PIL Property in the Toodoggone region of British Columbia, which hosts numerous porphyry copper-gold and epithermal gold targets. Work is also ongoing at the Mack's Copper and Milner properties – recently staked Catch analogues within Yukon's Stikine Terrane – as well as the Sands of Time property in the Yukon, all of which have additional copper porphyry targets. Cascadia has approximately 52 million shares outstanding and its largest shareholders are Hecla Mining Company, Michael Gentile and Barrick Gold.
On behalf of Cascadia Minerals Ltd.
Graham Downs, President and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
SOURCE Cascadia Minerals Ltd.
For further information, please contact: Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106, acarne@cascadiaminerals.com
Organization Profile
Cascadia Minerals Ltd.
Also from this source
Cascadia Steps Out 315 m at Catch and Intersects 106 m of Porphyry Mineralization Grading 0.37% Copper and 0.22 g/t Gold (0.52% CuEq)
Cascadia Commences Drilling at the PIL Property, Toodoggone Region, BC
Cascadia Minerals Ltd. Announces Closing of C$3.2M Financing Led by Michael Gentile
CANTEX ANNOUNCES TEMPORARY HALT TO DRILL PROGRAM
https://www.newswire.ca/news-releases/cantex-announces-temporary-halt-to-drill-program-851663080.html
Cantex Mine Development Corp. Jul 23, 2024, 09:00 ET
KELOWNA, BC, July 23, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") announces a temporary shutdown of exploration activity at its North Rackla project which is located within the traditional territory of the First Nation of Na-Cho Nyäk Dun ("FNNND").
North Rackla Drilling Halt
As a result of the recent heap leach pad failure at Victoria Gold's Eagle Mine, located 120km from Cantex's project, the FNNND has requested a temporary pause to all mining and exploration occurring within their Traditional Territory.
The Department of Lands and Resources of the FNNND have requested this temporary pause to allow them to prioritize resources to deal with the ongoing impacts of the leach pad collapse which has been further complicated by several forest fires burning in the vicinity of the community.
Cantex has agreed to the request from the FNNND and has paused all drilling and exploration activities.
Our thoughts are with those affected by the spill and the forest fires, and we give thanks to the first responders and emergency support services who are working to contain both situations. Management looks forward to the continuation of the drill program in the near future and the results of the drilling completed to date.
About Cantex
Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers northeast of the town of Mayo in the Yukon Territory, Canada where high-grade massive sulphide mineralization has been discovered. Over 60,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.3 kilometers of strike length and 700 meters depth. The mineralization remains open along strike and to depth. The Company is led by Dr. Charles Fipke, C.M., the founder of Ekati, Canada's first diamond mine.
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
Signed,
Chad Ulansky
Chad Ulansky
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Cantex Mine Development Corp.
For further information: Cantex Mine Development Corp, Tel: +250-860-8582, Email: info@cantex.ca
Snowline Gold Drills 404.8 m of 2.3 Grams per Tonne Gold Including 100.8 m of 4.7 Grams per Tonne Gold From Surface, Outperforming Valley Deposit Initial Resource Estimate in First Holes of 2024
Hole V-23-071, collared in a large gap in coverage at the Rogue Project's Valley deposit, returned 449.7 m averaging 1.77 g/t Au from surface, including 169.2 m of 2.89 g/t Au, surpassing initial MRE block model grade predictions by +36%
Hole V-23-072 returned 404.8 m averaging 2.27 /t Au, including 100.8 m averaging 4.67 g/t Au from surface, consistent with MRE block model prediction overall and slightly outperforming the model near surface
Mineralization, including visible gold, encountered in large step-outs in first holes of Phase II program at Einarson Project's Jupiter target.
https://www.accesswire.com/892038/snowline-gold-drills-4048-m-of-23-grams-per-tonne-gold-including-1008-m-of-47-grams-per-tonne-gold-from-surface-outperforming-valley-deposit-initial-resource-estimate-in-first-holes-of-2024
Wednesday, 24 July 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / July 24, 2024 / SNOWLINE GOLD CORP (TSX-V:SGD)(OTCQB:SNWGF)
Cascadia Steps Out 315 m at Catch and Intersects 106 m of Porphyry Mineralization Grading 0.37% Copper and 0.22 g/t Gold (0.52% CuEq)
https://www.newswire.ca/news-releases/cascadia-steps-out-315-m-at-catch-and-intersects-106-m-of-porphyry-mineralization-grading-0-37-copper-and-0-22-g-t-gold-0-52-cueq--835082436.html
Cascadia Minerals Ltd. Jul 22, 2024, 08:00 ET
VANCOUVER, BC, July 22, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF)
Transition Metals Completes ZTEM Survey and Initiates Field Program at Pike Warden, Yukon
Preliminary helicopter airborne AFMAG and magnetics survey highlights large features which appear to be coincident with both collapse structures and known zones hosting copper mineralization at surface.
Field crews mobilized for detailed mapping program and to ground truth target areas in preparation for drilling.
https://www.newsfilecorp.com/release/217280
July 22, 2024 8:06 AM EDT | Source: Transition Metals Corp.
Sudbury, Ontario--(Newsfile Corp. - July 22, 2024) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company") reports that Geotech Ltd. has completed the approximate 650-line kilometre (km) helicopter borne, Z-Axis Tipper Electromagnetic system (ZTEM™) survey flown over Pike Warden ("the Property")(see news release dated June 11, 2024). Transition has engaged Condor North Consulting ULC ("Condor"), recognized experts in the field of geophysical data processing and interpretation. Condor's services have been retained to perform a detailed interpretation of the results and their final report regarding the significance of the survey is pending. The audio-frequency magnetic (AFMAG) data from this survey will be used to create 3-D subsurface resistivity as well as complimentary magnetic inversion models to characterize the extent of and prioritize prospective targets on the Property.
In addition, the Company is pleased to announce that it has initiated a program of boots-on-the-ground field work at Pike Warden. Work to date has highlighted four primary target areas the Company believes hold potential to host economic polymetallic systems (Figure 1). The ERT Zone, highlighted in yellow, hosts high sulphidation epithermal style gold/silver mineralization associated with an over two-kilometre-long trend of elevated silver-in-soil and silver-in-rock geochemical anomalies. The three areas highlighted in red, consisting of Copper North, Silver Train, and Olympus target zones, all show potential to host copper porphyry systems. Within these target zones, recent trace element geochemical and petrographic studies have highlighted the prospectivity for porphyry style copper-molybdenum mineralization (see news release dated May 29, 2024).
The field program will include detailed geological mapping, particularly around the potential porphyry target centres, with a focus on fracture density, vein styles, dike types, alteration abundance and intensity. This will result in a more representative collection of altered, unaltered, and mineralized samples for analysis to assist vectoring on a system scale into centres of mineralization.
Scott McLean, P.Geo., CEO of Transition Metals, commented, "We continue to be encouraged by what we are seeing at Pike Warden. It is hoped that work completed this summer will help confirm and prioritize targets in preparation for a program of drilling this fall."
Figure 1: Pike Warden 2024 Target Areas Focus
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/217280_transition_figure1_550.jpg
About the Pike Warden Property
The Pike Warden property (Figure 1) is located in the traditional territory of Carcross/Tagish First Nation and is situated on the northern rim of the Bennett Lake Caldera Complex, one of the largest extinct volcanic centers in Canada.
The property is located approximately 65 kilometres southwest of Whitehorse, Yukon, and is composed of 203 contiguous mining claims totaling approximately 41 km². The property encompasses a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are indicative of a large epithermal-porphyry system in the vicinity of the Bennett Lake Volcanic Complex. In June 2022, Transition entered into an option agreement to acquire a 100% interest in the property from the Vendor in exchange for cash, shares, and work expenditures over a four-year period (see Company news release dated June 28, 2022).
Qualified Person
The technical elements of this press release have been approved by Mr. Benjamin Williams, P.Geo. (PGO), who is a Qualified Person as defined under National Instrument 43-101.
About Transition Metals Corp.
Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution. Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Transition Metals Corp.
Gladiator Recommences Drilling and Provides Exploration Plan
https://www.newsfilecorp.com/release/216807
July 17, 2024 7:15 AM EDT | Source: Gladiator Metals Corp.
Highlights
Gladiator has recommenced drilling high-grade copper skarn targets at the Chiefs trend, Whitehorse Copper Belt.
This drilling constitutes the first holes of Gladiator's planned Phase 1, 13,000m, summer drilling campaign targeting high-grade copper skarns throughout the Whitehorse Copper Belt with the dual strategy of:
1) Advancing to resource definition at:
Cowley Park: Establish initial drilling framework for inferred resource drilling at the Cowley Park Prospect.
Chiefs trend: Highlight further high-grade, near-term copper resource potential by testing southern target area.
2) Exploration Drilling at:
Arctic Chief: Highlight continuity of high-grade near surface copper and gold mineralisation for future resource drilling.
Best Chance: First drill test of outcropping high-grade, magnetite-Copper skarn mineralisation and test continuity of mineralisation between target and Arctic Chief.
Cowley Park: Targeting upside potential for further Copper-skarn mineralisation at Cowley Park.
Cub trend: Highlight continuity of high-grade, near surface, copper and gold mineralisation for future resource drilling.
Gladiator is fully funded for the aforementioned drilling campaign with $10m cash on hand following the recent successful closing of a $9m financing.
Gladiator CEO, Jason Bontempo commented:
"Following the successful closing of the Company's $9m private placement, Gladiator is now fully funded for its Phase 1, 13,000m summer drilling campaign which will be testing exploration targets and extensions to the known areas of mineralisation to demonstrate the near-term resource potential of lead prospect areas including Cowley Park, Arctic Chief, Best Chance and the Cub trend."
"We have recently recommenced drilling at the Chiefs trend following up recently reported high grade copper assays where mineralisation remains open in all directions with some holes finishing in high grade copper-gold mineralization."
"Next, we will move to our recently permitted Arctic Chief prospect for our maiden drilling campaign to test high-grade near surface copper and gold mineralisation. Hudbay historically mined small tonnages of high-grade outcropping skarn mineralisation at Arctic Chief but did not drill test for size and extension."
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2024) - Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), following the successful conclusion of its $9 million financing, provides an update on its exploration strategy and activities at the Whitehorse Copper Project. Drilling has now commenced targeting significant widths of unmined, copper-gold skarns at the southern strike extent of the historic Chiefs trend.
Exploration Strategy
Gladiator's planned Phase 1, 13,000m, summer drilling campaign will be targeting high-grade copper skarns throughout the Whitehorse Copper Belt with the dual strategy of:
1-Advancing to resource definition at:
Cowley Park: Establish initial drilling framework for inferred resource drilling at the Cowley Park Prospect.
Chiefs trend: Highlight further high-grade, near-term copper resource potential by testing southern target area.
2 - Exploration Drilling at:
Arctic Chief: Highlight continuity of high-grade near surface copper and gold mineralisation for future resource drilling.
Best Chance: First drill test of outcropping high-grade, magnetite-Copper skarn mineralisation and test continuity of mineralisation between target and Arctic Chief.
Cowley Park: Targeting upside potential for further Copper-skarn mineralisation at Cowley Park.
Cub trend: Highlight continuity of high-grade, near surface, copper and gold mineralisation for future resource drilling.
Drilling will be complemented by planned geophysical programs including Induced Polarization, Electromagnetic and Magnetic surveys to help refine drill targeting in the prospect areas and highlight undiscovered areas of exploration potential.
Commencement of Drilling at the Chiefs Trend
Assay results returned from 20 holes for 3,581m at the Chiefs trend earlier in the year confirmed the extensive high-grade mineralization highlighted by Gladiator's data compilation of historical drilling (refer to news release 16th Nov 2023 and 5th March 2024). Mineralization remains open in all directions with some holes finishing in high-grade copper and gold mineralization due to difficult ground conditions. Copper - gold mineralization highlighted from this drilling includes:
LCG-009: 11m @ 1.67% Cu and 0.63 g/t Au from 194m.
LCG-009D1: 20.44m @ 2.17% Cu and 0.34 g/t Au from 221.6m to EOH.LCG-009D2: 8.7m @ 2.06% Cu and 0.13 g/t Au from 167m
LCG-003: Recovered core @ 2.71% Cu and 1.39 g/t Au within a 13.75m mineralized zone from 256m to end of hole (approximately 270 m) that failed in 0.25m @ 2.76% Cu and 0.28 g/t Au.
LCG-001D1: 22m @ 1.41% Cu and 0.28 g/t Au from 208m.
LCG-001: 6m @ 1.56 % Cu and 1.06 g/t Au from 213m and 16m @ 1.29% Cu and 0.61 g/t Au from 249m.
LCG-001D2: 10m @ 0.83% Cu and 0.19 g/t Au from 62m, 4m @ 1.03 Cu and 0.19 g/t Au from 84m and 10m @ 1.35% Cu and 0.51g/t Au from 196m.
This drilling defined unmined, near surface magnetite-copper skarn mineralization over more than 600m's of strike north of the historical mining operations at Little Chief.
As part of the broader strategy to define near term resource potential in the area, Gladiator recently commenced drilling in the Chiefs trend targeting southern extensions to known mineralization including the Southern Up Dip, Southern Strike and Down Plunge Target areas in the south and looks forward to updating the market in the coming weeks of results (refer to Figure 1 below for details).
Figure 1: Three-Dimensional interpreted view of the known mineralized extents at the Little Chief and Middle Chief mine developments, with schematic UG development & open cut development showing areas of historical production and unmined mineralization and highlighting targets currently the focus of exploration drilling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/216807_75dd4772f45f4a69_002full.jpg
Historical drilling at the Chief trend prospects was selectively sampled for copper only. Given the recent significant gold intervals returned from these initial assay results, Gladiator intends to assay all future drilling and sampling for additional credits including gold, silver and molybdenum which were proven significant contributors to the economics of historic operations at Little Chief.
Cowley Park - Exploration Drilling
Recent geological modelling of the Cowley Park prospect has identified multiple areas of significant exploration upside (refer to NR May 28th, 2024) which will be the subject of planned exploration drilling this summer (refer to Figure 1 below) including:
Southeastern Extension: The interval in CP-159 represents the most south-easterly intercept of copper skarn mineralization to date with mineralization remaining open under cover.
Northeastern Extension: The most north-easterly copper-skarn intercept at Cowley Park is 43.28m @MB) with mineralization remaining open to the east under cover.
Sub Parallel Trends: Additional, unexplored sub-parallel trends under cover indicated by initial drilling including 10m @E-Green.
Western Extension: Recent mapping undertaken at Cowley Park has identified a significant fault that may have displaced the main mineralized body on the western side, opening up significant potential for the mineralization to extend west.
Depth Extensions: Mineralization remains open at depth with the deepest intervals drilled to date, including 14.33m @GMan) including 5m @ 2.78% Cu, remaining open at depth.
Figure 2: Plan map of the advanced Cowley Park Copper Prospect. Select recent and historical drill results with a cumulative Copper%*m of >40 highlighted. Map shows recently identified areas of exploration upside from geological modelling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/216807_75dd4772f45f4a69_003full.jpg
Arctic Chief & Best Chance- Exploration Drilling
The Company has recently undertaken reconnaissance, prospecting and sampling of outcropping Cu-Au skarn mineralization proximal to the Arctic Chief historical mining pits (refer to NR dated November 2nd 2023and July 31st, 2023). This work has identified multiple prospect areas over more than 2.4km of strike, mostly undrilled and which remains open in all directions (refer to Figure 3 below). These areas will be the focus of summer drilling campaigns in the area.
Figure 3: Plan map of the Arctic Chief Area with recently identified copper-gold skarn targets identified. Recently collated historical drill results with a cumulative copper%*m of >40 highlighted. In addition, all recent surface rock chipping completed by Gladiator geologists as part of the summer exploration campaign is shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/216807_75dd4772f45f4a69_004full.jpg
At Arctic Chief itself two historic shallow open cut pits (East & West) that are less than ~40m deep exploited very high-grade ore near surface ~4km to the NW of the Historic Little Chief Mine & Processing Facility. According to Watson1 (1984), Artic Chief reported production totaling 202,000 tonnes of copper ore grading 1.4% Cu and 1.0 g/t gold". Watson 1984 - "The Whitehorse Copper Belt - A Compilation".
https://data.geology.gov.yk.ca/Reference/42011#InfoTab
In addition to the historic Arctic Chief area of operations, multiple high priority prospects have been identified withing the 2.4km of mineralized strike. including the Best Chance prospect where previously unreleased and unmined historical drill intersections with mineralization remaining open along strike and at depth, best results include:
BCH-024: 15.94m @ 3.19% Cu from 29.96m
BCH-023: 46.27m @ 1.0% Cu from 24.38m
BCH-022: 16m @ 1.6% Cu from 25.15m
BCH-029: 14.94m @ 1.75% Cu from 27.43m
BCH-010: 10.36m @ 2.56% Cu from 93.09m
QA / QC and Data Verification
Drilling completed by Gladiator was irregularly spaced to test parts of the mineralised systems, holes were directionally surveyed utilising a North Seeking Gyro direction tool. Drill collars were or are to be subsequently surveyed utilising a high-accuracy RTK DGPS system.
Upon drilling of diamond core Gladiator undertakes geological logging, marking up of lineal length of the core, recording core recovery, Geotech measurements such as RQD's and undertakes core photographs.
Based on the geological logging, core is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half core retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 20 samples to monitor the Laboratory. Samples are submitted to the ALS Global Laboratory (Canada).
Samples subject to this release were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method ME-ICP61 (Aqua Regia with ICP-MS finish), with over limits for Cu analysed by method CU-OG62 (Aqua Regia with ICP-MS finish). As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. The QA/QC meets the current required standards under reporting instruments, such as NI-43-101. At this point the Company regards the data collected from this exercise as reliable for the purposes of identifying mineralization and future exploration targets and may be used to inform future drilling and exploration campaigns.
For information regarding QA/ QC and Data verification for the Historically Reported Intercepts, please refer to the Company's release dated 18th January 2024 "Gladiator Commences Drilling at the Middle Chief Copper Prospect", or the Company's release dated 16th November, 2023 "High-Grade Copper Mineralization Identified at Middle Chief & Class 1 Permit Extension Granted". Please note the Company believes that the historical drill results do not conform to the presently accepted industry standards.
The historical mineral resources discussed in this press release were calculated using mining industry standard practices for estimating Mineral Resource and Mineral Reserves prior to the implementation of the current CIM standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Mineral Reserves dated May 10, 2014). The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. An independent Qualified Person ('QP'), has not done sufficient work to classify the estimate discussed as current mineral resources or reserves and therefore the estimate should be treated as historical in nature and not current mineral resources or mineral reserves. The historical resources have been included simply to demonstrate the mineral potential of the Whitehorse Copper Project. A thorough review of all historical data performed by a QP, along with additional exploration work to confirm results, would be required in order to produce a current mineral resource estimate for each of the key prospects. For greater certainty, the Company confirms that it does not have a current mineral resource on any part of its Whitehorse Copper Project.
Where Copper Equivalents have been stated, Assumptions of the pricing are referenced in the tabulated results and recovery is assumed to be 100% as no metallurgical data is available. The following equation was used to calculate copper equivalence:
References:
Watson P.H. (1984) The Whitehorse Copper Belt - A Compilation. Yukon Geological Survey, Open File 1984-1.(https://data.geology.gov.yk.ca/Reference/42011#InfoTab)
Tenney D. (1981) - The Whitehorse Copper Belt: Mining, Exploration and Geology (1967-1980). (https://ia802508.us.archive.org/18/items/whitehorsecopper00tenn/whitehorsecopper00tenn.pdf)
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, the Company's Vice President Exploration, a "qualified person" as defined by NI 43-101.
Private Placement
Gladiator also announces the final closing of its non-brokered private placement raising gross proceeds of C$9,115,504 (the "Offering").
The Offering consisted of the issuance of 12,643,450 Charity Flow-Through common shares (the "Charity FT Shares") at a price of C$0.61 per Charity FT Share and 3,507,500 Non-Flow-Through common shares (the "NFT Shares") at a price of C$0.40 per NFT Share.
Gladiator will use the proceeds of the Offering to fund its continued exploration program at its Whitehorse Copper Project in the Yukon including:
"continued diamond drilling of advanced prospects Cowley Park and Chiefs Trend with the intention of establishing a maiden initial inferred resource" and
"new exploration drilling at potential high-grade copper targets along the Whitehorse Copper Belt defined from historical drilling and aeromagnetic surveying."
In connection with the closing of the Offering, the Company cash paid finders' fees totaling C$158,280. The securities issued under the Offering are subject to a hold period under applicable securities laws in Canada expiring four months and one day from June 24, 2024, and are subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the final approval of the TSX Venture Exchange.
The Charity FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act")). An amount equal to the gross proceeds from the issuance of the Charity FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), and (ii) as "flow-through critical mineral mining expenditures" (as defined in subsection 127(9) of the Tax Act) (collectively, the "Qualifying Expenditures"). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the Charity FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2025, and will be renounced by the Company to the initial purchasers of the Charity FT Shares with an effective date no later than December 31, 2024.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
dzinger@gladiatormetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "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) that are not statements of historical fact may be forward-looking statements or information.
Forward-Looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company 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. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
SOURCE: Gladiator Metals Corp.
Yukon government ready to step in after mine disaster, firm's silence 'unhelpful'
https://ca.finance.yahoo.com/news/yukon-government-ready-step-mine-194450862.html
The Canadian Press
Thu, July 18, 2024 at 3:01 p.m. PDT·3 min read
The Canadian Press
WHITEHORSE, YUKON, CANADA — Yukon's deputy mining minister says it's "unfortunate and frankly unhelpful" that the owners of the Eagle Gold mine have been "silent in general" about action to remedy a disastrous ore slide that spilled hundreds of millions of litres of cyanide solution.
Lauren Haney said Victoria Gold had been "doing a lot of work" to treat and divert contaminated water, but it may not be enough, and the Yukon government was contemplating stepping in to "complement and supplement" the company's work.
She told a briefing on Thursday that officials were "relying heavily" on the advice from technical experts to keep them apprised of the situation at the disaster site, and the territorial government hasn't ruled out taking on a greater role.
"We are looking at all the scenarios right now, and one of those scenarios is where we would be taking over activities at the site in a more complete way," she said.
"There's a lot of complexities there with the company still being on site and again, to the extent we can, we must complement what the company is already doing and supplement where necessary."
Haney said an independent review panel would be appointed to investigate what happened at the mine on June 24, with the government already in contact with "world-class experts."
"This is similar to what's done with any mine failure in the world, this type of independent review panel is struck to ultimately get at the heart of what happened," she said. "And absolutely it's with a view to lessons learned and implementing that in our legislation as well as our enforcement regulatory practice."
The government has estimated the ore slide allowed 300 million litres of cyanide solution to escape containment at the mine's heap leach pad, which uses the chemical to extract gold from ore. Eagle Gold mine is about 500 km north of Whitehorse by road.
Yukon mineral resources director Kelly Constable said the situation at the mine site is in flux, and the company is running out of storage space for contaminated water in the mine's ponds.
She said Victoria Gold is creating more storage space as a "temporary measure," pumping contaminated water through the mine's heap as it tries to buildup additional capacity over the next 10 to 15 days.
Constable said the firm's water treatment facility is also unable to currently handle the volume of contaminated water, but it's working on upgrading it while increasing monitoring of the stability of the heap leaching facility.
Victoria Gold hasn't provided a public update since July 12, saying further information will be provided "as it becomes available."
The company said then it was uncertain if it would ever resume production or if it had the financial resources to repair damage and fix the environmental impact of the disaster.
The company did not immediately respond to phone and emailed requests for comment Thursday.
Yukon Mines Minister John Streicker told Thursday's briefing that the Yukon government had sought more information from the Na-Cho Nyak Dun First Nation, whose territory the mine is on, about their call for a mining moratorium on their lands.
"I don't speak for the First Nation, but I will share our understanding that following the heap leach failure, the First Nation of Na-Cho Nyak Dun does not want any new mineral claims, licenses, exploration, development authorizations or ongoing mining activities on their traditional territory," Streicker said.
"The Yukon Government is now working to understand rights and obligations under Canadian and territorial law."
Ballarat Gold Project, Yukon
https://www.newsfilecorp.com/release/216971
July 18, 2024 9:15 AM EDT | Source: Stakeholder Gold Corp. TSX Venture Exchange
Shares Outstanding: 17,766,412
Symbol: SRC
Toronto, Ontario--(Newsfile Corp. - July 18, 2024) - Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce commencement of the 2024 exploration program on the Company's 100% owned Ballarat Gold Project covering 18,741 Ha in the Heart of the White Gold District of the Yukon Territory, Canada.
The 2024 summer exploration program on Ballarat is designed to provide further information on gold and copper anomalies first identified in 2016 and then subsequently confirmed with more extensive testing during the 2023 exploration season. Highlights of the 2023 program include (1):
Identification of two distinct, subparallel, anomalous gold in soil trends of 1.9 km and 1.3 km on the Skye Zone. The Skye Zone extends west-southwest off of the route proposed for the Northern Gateway Road where the road traverses the northern section of the Company's claim holdings.
Detection of multiple further spot gold anomalies associated with ridge and spur samples. These newly identified gold in soil and ridge and spur anomalies, which now warrant follow up grid sampling, are located west and east of Ballarat Creek in areas several km south of the Sky Zone also proximal to the route proposed for the Northern Gateway Road.
Identification of a 500 m wide zone of anomalous copper ridge and spur samples associated with a Jurassic aged intrusive unit; now called the Loki Zone. Regional mapping indicates that this unit has surface dimensions of approximately1,000 m by 300 m and is located east of Ballarat Creek within the southeast sector of the Company's contiguous claim holdings, and approximately 1 km east of the route proposed for the Northern Gateway Road where it traverses the southern section of the Company's claim holdings.
(1) See the Company's News Release dated Oct. 18, 2023. Available on SEDAR.
"Our objective in 2024 is to confirm the significant potential of both the Skye Zone gold target and the Loki Zone copper target on the Company's 100% owned 18,741-hectare Ballarat Project located in the Heart of the White Gold District." Stated Christopher Berlet, CEO of Stakeholder.
"Of note, is that both targets are located only a few hundred meters, west and east respectively, from the proposed route for the Northern Gateway Road which traces for more than 17 km north-south through the center of company claims. This proximity may portend significant logistical advantages as we develop project assets along the value chain in one of the world's leading mineral resource development jurisdictions."
2024 Exploration Program
The 2024 exploration program will include grid soil sampling, ground-based VLF surveys, geological mapping and prospecting, and a drone magnetic survey. The work will focus on the Skye Zone and newly discovered Loki Zone. The work will be conducted by GroundTruth Exploration Inc. from Dawson City, YT and is anticipated to begin in late July 2024.
Skye Zone
Work on the Skye Zone will include high-resolution soil sampling, VLF surveys, and geologic mapping and prospecting across the two NE-SW trending, subparallel, gold in soil anomalies which are up to 1.9 km in length. Previous work in the area indicates that the anomalies are associated with sericite altered quartz-feldspar gneiss hosting quartz veining and disseminated-vein controlled pyrite along an interpreted NE-SW oriented fault zone(s). The soil anomalies are 'gold only' with only slightly elevated lead-molybdenum and this geochemical association, along with the style of alteration/mineralization, indicates that these are potentially structurally controlled targets with similarities to the Golden Saddle deposit located approximately 32 km to the northwest.
Loki Zone
Exploration on the Loki Zone will consist of grid soil sampling and geologic mapping and prospecting to define the extents and nature of the copper anomaly. The target lies on the northern margin of a Jurassic aged intrusive unit outlined by regional mapping and may have potential for porphyry style mineralization.
Drone Magnetic Survey
The Company is also planning to fly a property scale drone magnetic survey to aid in geologic and structural interpretation of the Ballarat Property. The survey will be conducted using the MagPlane by Overhead Intelligence & GroundTruth Exploration Inc. The MagPlane, is a fast unmanned magnetometry system with a maximum velocity of over >80km/hr. Magplane integrates a boom-mounted magnetometer with an advanced laser altimeter and maintains communication with base using high bandwidth multipoint radios, satellite links and LTE methods.
Figure 1: Ballarat Property showing areas of planned 2024 exploration
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3082/216971_101daa4dd4d71aff_001full.jpg
Ballarat Property
The Company's 100% owned, 18,741-hectare, contiguous claim position covers key ground features in the center of the rapidly evolving White Gold Mining & Exploration District. Stakeholder's claims are located in the relative center of the White Gold District, north and northeast of Newmont's Coffee Gold Project, due north of Western Copper and Gold Corporation's Casino Project and west, south, and east of White Gold's regional exploration initiatives.
QAQC and QP Statement
The analytical work for the 2024 program will be performed by Bureau Veritas Commodities Canada Ltd., an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory. Sample preparation will be carried out at the company's Whitehorse, Yukon facility. All soil samples will be prepared using procedure SS80 (dry at 60 C and sieve 100g at -80 mesh) and analyzed by method AQ201 (aqua regia digestion and ICP-MS analysis). The planned work will be completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks, and field duplicates into the sample stream.
Jodie Gibson, M.Sc., P.Geo. is the Qualified Person for the Company, as defined by NI 43-101, and has reviewed and approved the contents of this press release.
For further information please contact:
Stakeholder Gold Corporation
416 525 - 6869
cberlet@stakeholdergold.com
Forward-Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
SOURCE: Stakeholder Gold Corp.
Yukon Metals Commences Fieldwork at Star River
https://ca.finance.yahoo.com/news/yukon-metals-commences-fieldwork-star-130000836.html
Yukon Metals Corp.
Wed, July 17, 2024 at 6:00 a.m. PDT·6 min read
YMC.CN
0.00%
E770.F
+7.25%
VANCOUVER, British Columbia, July 17, 2024 (GLOBE NEWSWIRE) -- Yukon Metals Corp. (CSE: YMC, FSE: E770 - the “Company” or “Yukon Metals”), is pleased to announce that it has begun reconnaissance field work at the Star River Project located 50 kilometres due south of Ross River, Yukon.
Initial fieldwork by Yukon Metals located new mineralized outcropping that was not previously mapped in the vicinity of several of the historic workings. Further geochemical sampling and mapping programs this season will help to delineate these new areas of mineralization.
Rory Quinn, President & CEO stated, “We are hugely encouraged by the extensive surface exposure of mineralization found at Star River as well as new areas of interest in the southern part of the property that have seen little to no previous exploration. In addition, numerous historic tracks and access roads have been located that will be useful for facilitating future ‘boots on the ground’ exploration. The LiDAR survey, completed July 6th, will provide enhanced ground visibility of the whole property while the upcoming gravity survey will explore for dense drill targets.”
Vision Quest, a Yukon First Nations-owned exploration contractor working closely with Yukon Metals, has commenced ground preparation in advance of an upcoming surface geophysical program. A detailed drone LiDAR topographic survey on the project has already been completed and interpretation is underway.
Yukon Metals will explore this area using a gravity geophysics survey exploring for dense and metalliferous drill targets as well as an electromagnetic survey to prospect for coincident conductive horizons. Detailed geologic mapping and geochemical soil sampling will occur concurrently.
About the Star River Project
Yukon Metals owns 100% of the 716-hectare, Star River base and precious metals project accessible by road from the Robert Campbell Highway and former Ketza Mine Road. The project is host to multiple showings of polymetallic carbonate replacement mineralization and quartz-sulphide veins first discovered in the 1950s. Remnants of underground and surface workings using historical exploration techniques are visible around much of the property and tied together with a network of roads and trails surrounding the Ketza Mine.
Previously mapped geology on the Star River project (AR 061867 & Templeman-Kluit, OF 5487)
Figure 1: Previously mapped geology on the Star River project (AR 061867 & Templeman-Kluit, OF 5487).
Several of the historic showings that are high priority targets for further exploration include Key3, Lap10, and F2-F3. Key3 and Lap10 are occurrences on the project that are noted in literature as occurring in the Seagull Group rocks. The F2 and F3 mineralization occurs in the Askin Group and Porcupine Formation (OF 5487 Templeman-Kluit p78).
Key3 is a historic working of a semi-massive lens of galena with minor sphalerite, tetrahedrite, chalcopyrite and jamesonite about 7.3 metres long which reportedly averaged 1028.5 g/t Ag and 18% Pb across an average width of 0.9 metres. Historical individual assays have recorded up to 17,142 g/t Ag. Discontinuous mineralization was traced in the 1950s - 1980s for 82 metres with bulldozers and short exploration adits but was never explored at depth or along strike despite three gossans occurring on surface and other small veins in the area.
Lap10 is recorded as having a known strike length of 137 metres to the north at 045 degrees and cuts into the Cambrian and Ordovician rocks. It has a fairly continuous band of galena with a historical indicated grade of 12,000 g/t Ag and 38% Pb over a width of 1.07 metres for 137 metres in length. This showing was explored by bulldozer and adit in the 1950s and 1960s. Little effort was made to explore further and the showing has sat unexplored for decades.
Yukon Metals will employ the same exploration efforts on Lap10 as Key3a and explore any continuity of mineralization and structural controls between the two areas which are approximately 1.2 kilometres apart and in the same rocks.
The F2 - F3 zone occurs in similar geology to the past producing Ketza Mine which is approximately five kilometres due west. The F2 and F3 zone has historically found Au, Ag and Pb in veins in the Askin Group limestone and Porcupine Formation orthoquartzites. The F3 zone found mineralized surface exposure 120 feet long discovery showing 86 oz/ton and 50% Pb over a 5.0 metre width (AR 018888, 1968; AR 019895, 1967). The F2 vein was historically noted as having "0.63 oz/t Au across 2.3 feet for a length of 30 feet" in an Iona Silver Mines assessment report from 1971 (AR 061651). Despite the interesting results in the F2 and F3 showings area plus other work on Canyon and Gem showings area, subsequent work by previous mining companies in the area focused on the Key18 past producer.
The F2, F3, Canyon and Gem showings will be further explored by gravity geophysical methods to discover dense and metalliferous drill targets. An electromagnetic survey will be used in this area as well to discover any conductive horizons that are coincident with any gravity anomalies.
Qualified Person
The technical content of this news release has been reviewed and approved by Helena Kuikka, P.Geo., as the Qualified Person (as defined by National Instrument 43-101).
About Yukon Metals Corp.
Yukon Metals is well financed and represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold’s portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors and Management Team across technical and finance disciplines.
Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing shareholder value. Our strategy centers around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, our ventures. More information about Yukon Metals can be found at www.YukonMetals.com.
The Yukon Territory
The Yukon Territory is ranked 10th as the most prospective for mineral potential across global jurisdictions according to the Fraser Institute’s 2023 Survey of Mining Companies, and is host to a highly experienced and conscientious local workforce, fostered by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold’s Rogue Project - Valley Discovery, demonstrate the Yukon’s potential to generate fresh district-scale mining opportunities.
YUKON METALS CORP.
“Rory Quinn”
Rory Quinn, President & CEO
Email: roryquinn@yukonmetals.com
For further information about Yukon Metals, please contact:
Monica Hamm, Vice President, Investor Relations
Email: monicahamm@yukonmetals.com or info@yukonmetals.com
Phone: 778-389-9928
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information, including information about the incremental release from escrow of the Consideration Shares, the resumption of trading of the Common Shares and the Company’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify the forward-looking information. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking information involves significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied in the forward-looking information. Such factors include, among other things: risks and uncertainties relating to the incremental release from escrow of the Consideration Shares; the resumption of trading of the Common Shares; and other risks and uncertainties. See the section entitled “Risk Factors” in the Company’s listing statement dated May 30, 2024, available under the Company’s profile on SEDAR+ at www.sedarplus.ca. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with the forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise the information to reflect new events or circumstances, except as required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3eb2d4bb-be3b-42ca-b62f-cc3a263796f0
Rackla Metals Commences Drilling at Hit Target, Eastern Tombstone Gold Belt
First drill hole at Hit target expands RIRGS mineralization to the southwest; assays pending
https://thenewswire.com/press-releases/1AdyFe16d-rackla-metals-commences-drilling-at-hit-target-eastern-tombstone-gold-belt.html
Vancouver, British Columbia – July 17, 2024 – TheNewswire – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to announce that drilling has commenced at its Hit target, Astro Plutonic Complex, in eastern Yukon.
Rackla’s team has moved into their road accessible camp that will facilitate all work on the Astro Plutonic Complex. The 2024 drill program is now underway, and the first holes being drilled are designed to expand the RIRGS (Reduced Intrusion-Related Gold Systems) mineralization discovered at the Hit target last year.
The Hit target is defined by a prominent corridor of intense sheeted quartz-sulphide veins within the 2.5 sq km Canol Trail Stock.
Plan view map of the Mehitabel Showing, Hit target, with 2024 holes HIT-006 and HIT-007:
Click Image To View Full Size
The first hole of the 2024 campaign, HIT-006, was drilled below and to the southwest of 2023 drill holes HIT-003 and HIT-004. Hole HIT-007 was drilled from the north towards HIT-003 and 004 targeting the sheeted vein system and fault structures along the northern margin of the sediment-intrusive contact. The image below shows sheeted vein system in monzogranite from HIT-006. This drill hole expands the known RIRGS mineralization to the southwest and from surface to a vertical depth of 229m.
Core photo of multiphase quartz-carbonate-sulfide veining in hole HIT-006:
Click Image To View Full Size
Core photo of multiphase quartz-sericite-sulfide veining in hole HIT-007:
The Rackla field team is also working at the Peak target and has mobilized the drill to collar the first drill hole at the target this week. The Peak target is located on the eastern flank of the Kelvin Stock, 11 km south of the Hit target.
Both the Hit and Peak targets are located within the Astro Plutonic Complex (APC), eastern Tombstone Gold Belt, in proximity to the territorial border between eastern Yukon and western Northwest Territories, Canada. The APC is road accessible via the North Canol road.
Simon Ridgway, CEO commented: “Our team is excited to have initiated the next phase of drilling on the Hit target and look forward to maiden drilling at the Peak target in the coming days. We are encouraged with the sheeted vein density in HIT-006 and HIT-007, and look forward to the assay results.”
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting RIRGS (Reduced Intrusion-Related Gold System) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s proposed exploration activities. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Lode Gold Files NI 43-101 Technical Report on Its Yukon Properties, Tombstone Gold Belt, Key to Executing Its Spinout Plan
https://www.newsfilecorp.com/release/216589
July 16, 2024 1:19 AM EDT | Source: Lode Gold Resources Inc.
Toronto, Ontario--(Newsfile Corp. - July 16, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company") is pleased to announce it has filed on SEDAR+, (SEDAR or Lode Gold site) an NI 43-101 technical report (the "Report") on its Golden Culvert and Win properties in the Yukon Tombstone Gold Belt, similar geological setting as the Valley's RIRGS (Reduced Intrusion-Related Gold Systems) gold discovery by Snowline Gold1. The report was authored by Marty Huber, P. Geo. and Mark Fekete, P. Geo.
This report is a key milestone for our spin-out plans (news release May 15, 2024). Lode Gold has set up a wholly owned subsidiary to vend in the Canadian assets in preparation for a Spin Co, to be called Gold Orogen, later this year.
HIGHLIGHTS FROM THE 43-101
Our Yukon assets consist of 99.47 km2 in 509 claims in two groupings, one group called Golden Culvert, the other called WIN, accessed by all-weather road in the southern extent of the Tombstone Gold Belt.
Two drill campaigns in 2020 and 2021 focused on the Golden Culvert property, with over 4,500 m in 26 holes, highlighted by several >50 gram meter gold intercepts.
The drilling targeted sediment hosted orogenic-type mineralization and is similar in style to the 3-Aces deposit on the adjacent property operated by Seabridge. The Potential for RIRGS-type deposits has been overlooked in the area.
Recent field work on WIN confirmed that we have RIRGS: Mineralization is evidenced in sheeted quartz veins, the best sample was up to 8.53 g/t Au, 155 g/t Ag and 516 ppm Bi hosted in hornfels.
The 43-101 forms the qualifying property in our planned spin out, to be named Gold Orogen. The Spin Co will also include our New Brunswick asset: McIntyre Brook, which has also demonstrated gold endowment, numerous gold prospects, drill intercepts with >20 gram meter and trench samples up to 41.5 g/t Au.
STRATEGIC BUSINESS PLAN - In Progress
The Spin Co is Step 2 of a 3-Step Restructuring and Growth Strategy and Plans signed off by the Board in October 2023. We are actively executing the spin out plans and it should be completed later this year.
Step 1 of the Strategy and Plans included a positioning financing, adding key shareholders, cleaning up the balance sheet, expanded land holdings in New Brunswick, developing a geological model for a high-grade underground mine potential in California and most importantly, enhanced the technical, capital market, and marketing leadership and execution team at Lode Gold.
Step 2 of Lode's Gold's growth plan is to unlock value by spinning off key Canadian assets into a highly prospective pure play exploration company. These Yukon and New Brunswick assets in 2020 had a market capitalization of ~ $30 million2, past market performance doesn't predict future performance, however the creation of Gold Orogen focused on discovery is considered good launch pad, by management. Of note, before the Record Date, all registered shareholders of Lode Gold will receive shares of the New Spin Co, Gold Orogen.
Step 3 of Lode Gold's plans - Fremont to seek strategic partnership and to pursue a high-grade underground mine potential. Target: 2M Oz at 5g/t Au (3g/t Au cut-off). Proof of geological concept: Upcoming 4,500 m drill program.
Wendy T. Chan, CEO and President commented, "Our land package is located in the underexplored Southern Tombstone Gold Belt known to contain multi-million-ounce gold deposits and mines of different styles, orogenic, sediment hosted and RIRGS. Notable is the recent, "Valley" RIRGS discovery, with a resource of 4.05 Moz Au indicated at 1.66g/t and additional 3.26 Moz Au inferred at 1.25g/t m, owned by Snowline Resources3. Some of their intercepts include 2.48 g/t Au over 553.8 m from surface including 4.98 g/t Au over 132.0 m from 6.0 m downhole and 2.47 g/t Au over 383.8 m from surface including 4.06 g/t Au over 120.0 m from a collar location4. This is a testament to the high exploration potential of this belt. The 43-101 technical report, is an excellent summary of what the company has achieved in the Yukon to date and forms an excellent foundation for Gold Orogen."
Lode Gold advises to investors that a resource or reserve on an adjacent or nearby property is not necessarily indicative of what may be found at Golden Culvert.
Buddy Doyle, VP Exploration commented, "Work for 2024 has already commenced with completion of a super conducting quantum interference device (SQUID) magnetic survey, trade name QMAGT, covering all our Yukon claims. Results are expected soon. This information will guide our field work which will focus on the Reduced Intrusion-Related Gold System (RIRGS) style of mineralization, as recently revealed, by results on the WIN property.
In December 2023, we reported at WIN gold values, up to 8.53 g/t in sheeted veins with silver and bismuth hosted in hornfels on the top of an intrusion which is typical of RIRGS. We have the appropriate bismuth to gold ratio that are characteristic of RIRGS."
Lode Gold notes that the samples while demonstrating mineralization are grab sample grades and may not be representative.
On the Golden Culvert property there are several kilometers of untested gold in soil anomalies as well as follow-up and expansion drilling on better intercepts from our previous work. Our properties are adjacent to Seabridge Gold's 3 Aces, an advanced orogenic gold project, where they are executing a >5,000 m drill program. News from this program is important to our company as Seabridge's have developed a model where the higher grades are controlled by secondary folds, especially where the limbs of these folds intersect with the boundary of two rock types, phyllites, and coarse grits grading into conglomerates.
The mineralization at Golden Culvert is in the same geological package, higher in the sequence, with our higher grade zones also occurring at the contact between phyllites, grits and conglomerates on folds. If the Seabridge work finds success we will apply that model to the Golden Culvert property. Rackla Metals (adjacent to WIN to the east) and Aben (nearby) also have RIRGS focused projects.
Lode Gold notes that results from adjacent properties and the same belt do not necessarily translate to our property, each deposit is unique.
BACKGROUND - 27 km of Prospective Trend (within 99.5 km2) in District Scale Setting
Lode Gold has 27 km of prospective trend (within 99.5 km2) with proven gold endowment in the Southern Tombstone Belt. The 509-claim (99.47 km2) in the Little Hyland River Valley, includes the
78-claim (15.67 km2) WIN block to the south, and the 431-claim (83.8km2) Golden Culvert block to the north. Lode Gold owns 100% of Golden Culvert.
There are seven known mineral occurrences on the properties. The Golden Culvert's Main showing is the most important and has seen the most work. The other showings from north to south are the Rubus, Road and Camp, Golden Dragon and Quartz Cirque, Green Dragon, Command, East Boundary and Tuna. Gold mineralization is typically found in quartz veins commonly associated with arsenopyrite. Visible gold is present but is very rare. High gold grades have been reported throughout the Golden Culvert corridor and weaker gold values from the other known showings.
The WIN property is situated 11 km directly southeast of the Golden Culver's Main showing. The property has outcrop of sheeted gold-bearing quartz veins in hornfels-altered contact aureole between two mineralized quartz monzonite intrusives, in an occurrence that fits the RIRGS gold models.
EXCELLENT INFRASTRUCTURE - Year-round Road Access (Nahanni Range Road to Cantung Mine)
The all-weather Nahanni Range Road provides relatively good access to the Property between 142 km mark from Watson Lake at the south end and 175 km at the north end. Many parts of the Property can be accessed directly from this road, a helicopter is used in the more remote parts.
ACTIVE EXPLORATION & ACQUISITION by Seabridge Gold, Rackla Metals, and Snowline Gold
The Property has potential for both orogenic (lode gold-type) and Reduced Intrusion-Related Gold System (RIRGS-type) gold deposits. Interest in the latter type was revived in the Selwyn Basin by the start of the Eagle Gold Mine in 2020 and the Valley discovery made by Snowline Gold in 2021. The Property has secondary potential for tungsten skarn-type deposits.
Figure 1 Lode Gold’s Yukon properties in relation to Seabridge and other competitors.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/216589_05902c69e4735943_003full.jpg
WORK COMPLETED: CONFIRMED HIGHER GRADE 3 km MINERALIZATION defined by 24 trenches. Best trench results: 24.40 g/t Au over 6.0 m (Incl. 95.0 g/t Au over 1.5m) Avg. grade from 93 surface samples of 13.30 g/t Au; up to 320.00 g/t Au
Most of the historic exploration was done in the Golden Culvert's Main showing, it includes 4.4 km of road building, 30 excavator trenches for a combined length of 1,769 m and 442 trench samples.
Highlights of the trench sampling include 1.43 g/t Au over 12.0 m in TR1805 including 6.45 g/t over
1.5 m, and 24.24 g/t Au over 6.0 m in TR1923B including 95.00 g/t Au over 1.5 m. In addition, 291 surface rock samples and 100 m in 12 channel samples were collected from quartz bearing outcrops and
boulders outside of the trenches. Highlights include spectacular gold results ranging from 16.55 g/t Au to
320.00 g/t Au from a series of quartz boulder float-trains found southeast of the Main showing. The main result of the surface exploration work was to recognize a mineralized corridor measuring up to 250 m wide along a strike length of 970 m on surface comprised of at least six gold-bearing quartz vein and vein-breccia structures within a northwest-trending zone of phyllites marked by strong, pervasive silica alteration, and disseminated sulphide mineralization. Two primary structures known as the Main and West structures were identified.
Figure 2 Golden Culvert and Win map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/216589_b6b745a124717ac8_005full.jpg
PROVEN GOLD ENDOWMENT - Consistent gold anomalies across property demonstrated by soil reconnaissance
Work elsewhere on the Property consisted of soil stream silt geochemical surveys followed by prospecting and rock sampling. A total of 5,182 soils, 102 silts, and 195 surface rock samples were taken. The previously known Road and Camp, Eastern Boundary and Command showings were defined by promising gold-in-soil anomalies and extended by moderate gold values found in rocks hundreds of meters away from the original showings. Most of the soil sampling was done on a gridded area on the Little Hyland North sub-block in 2021 which outlined a strong gold-in-soil anomaly approximately
2,220 m long by 850 m wide. Prospecting at the south end of this anomaly resulted in the 2022 discovery of the Golden Dragon showing with gold values up to 10.65 g/t Au in float and 1.26 g/t Au from a grab sample. Prospecting also discovered the Green Dragon copper showing in 2017. These promising targets have not yet been drill tested.
26 DRILL HOLES COMPLETED 4,567 m: Several economic >50 gram meter drill intercepts
Lode Gold has completed two diamond drill campaigns on the Property to date including 1,350 m in nine holes in 2018 and 3,193.2 m in 17 holes in 2020. All holes were drilled in the vicinity of the Golden Culvert's Main showing. The key result of the drilling was to confirm the vertical extension of the 250 m wide, 970 m long mineralized corridor traced on surface. Highlights of the drilling include 2.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03, including 26.04 g/t Au over 2.5 m from 130.6 m and 60.10 g/t Au over 0.9 m from 131.5 m, and 10.51 g/t Au over 6.8 m from 110.3 m in hole GC2016.
Confirmed RIRGS - Up to 8.53 g/t Au, 155 g/t Ag, 516 ppm Bi. Outcrop of sheeted gold-bearing quartz veins in hosted hornfels.
Sampling late last year and historic results from assessment reports, confirmed we have Reduced Intrusives (RIRGS) on our WIN property. Where there is outcrop of sheeted gold-bearing quartz veins hosted a in hornfels-altered contact aureole between two mineralized quartz monzonite intrusives. We look forward to upcoming work to map, sample and trench; to better define drill targets guided by the geophysics results.
RECOMMENDATIONS
The 43-101 report states that further exploration work is strongly recommended with a focus on evaluating the Property in terms of the RIRGS-type deposit model. A first phase of exploration is proposed consisting of a 1,500 line-km QMAGT SQUID airborne survey over the entire Property, a 2,000 sample soil geochemical survey focused on the WIN block and Little Hyland South sub-block and 60 man- days of further prospecting, rock sampling and geological mapping over all target areas other than the Golden Culvert corridor. The estimated cost of the first phase including 10% contingency is $605,000. A second phase of 2,000 m of diamond drilling is also recommended contingent upon positive results from the first phase. The cost estimate for drilling is $1.2M including 10% contingency.
ABOUT LO DE GOL D
Lode Gold is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.
Its Golden Culvert and Win Projects, Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn Basin.
Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17 km strike length in the emerging Triple Fault Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50 m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project.
The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD $217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV(5%) of USD $370MM and a 31% IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated, and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property that features five gold-mineralized zones. Significantly, three step-out holes at depth hit mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on private land in Mariposa, the original gold rush county and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail. Please refer to the Fremont Gold project PEA dated March 31, 2023 under NI 43-101 guidelines. The technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.
SAMPLE METHODS AND QA/QC
The results reported here all samples, were prepared on site and set by chain of custody to either ALS laboratories Whitehorse preparation laboratory. Core was split by diamond saw at site nominal 1m intervals with smaller intervals of geological interest. Rock and Core samples were crushed and grounded to 75 microns P 85. (ALS Code Pprep-31). Pulps were analyzed for Au by 30g FA with an AA finish (ALS Code Au-AA25). Samples that exceeded the AA finish upper detection limit underwent a 50-gram FA with gravimetric finish (Code Au-GRA22). A 51 element ICP-MS assay was also performed on a 0.5g extract from the pulps using an Aqua Regia digestion, (ALS Code ME-MS41). QAQC samples consisting of one Certified Reference Material ("CRM") standard and one blank for every batch of 15 rock samples were routinely applied. Results were of acceptable limits. Further details are available in the 43-101 technical report.
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").For more information, please visit the Company's website at or contact:
Winfield Ding
Chief Financial Officer
winfield@lode-gold.com
416-320-4388
Kevin Shum
Investor Relations
info@lode-gold.com
647-725-3888 xt 702
Forward-Looking Statements
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.
WARNING: The Company relies upon litigation protection for "forward-looking" statements. The information in this release may contain forward looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
1 Snowline Resources Investor Presentation - https://snowlinegold.com/wp-content/uploads/2024/06/Investor-Presentation-June-1-2024-v2LR.pdf
2 Yahoo Finance historical share price & market capitalization Lode Gold in 2020. https://finance.yahoo.com/quote/LOD.V/history/?period1=1577836800&period2=1607644800
3 Snowline Resources Initial Mineral Resources at Valley Gold, Dan Redmond, P.Geo., an independent qualified person as defined by NI 43-101, June 17, 2024, https://snowlinegold.com/2024/06/17/snowline-gold-announces-initial-mineral-resource-at-its-valley-gold-deposit/
4 https://snowlinegold.com/2023/08/03/snowline-gold-intersects-553-8-m-of-2-5-grams-per-tonne-gold-from-surface-including-5-0-grams-per-tonne-gold-over-132-0-m-along-with-robust-mineralization-at-depth-at-valley-rogue-project-yuko/
SOURCE: Lode Gold Resources Inc.
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The topic here is Resource extraction in the Yukon...
Yukon Mining Recorder -
http://www.yukonminingrecorder.ca/index.html
http://www.gov.yk.ca/
www.emr.gov.yk.ca/energy/energy_strategy.html
The Spell of the Yukon by Robert Service:
I wanted the gold, and I sought it;
I scrabbled and mucked like a slave.
Was it famine or scurvy, I fought it;
I hurled my youth into a grave.
I wanted the gold, and I got it --
Came out with a fortune last fall, --
Yet somehow life's not what I thought it,
And somehow the gold isn't all.
No! There's the land. (Have you seen it?)
It's the cussedest land that I know,
From the big, dizzy mountains that screen it
To the deep, deathlike valleys below.
Some say God was tired when He made it;
Some say it's a fine land to shun;
Maybe; but there's some as would trade it
For no land on earth -- and I'm one.
You come to get rich (damned good reason);
You feel like an exile at first;
You hate it like hell for a season,
And then you are worse than the worst.
It grips you like some kinds of sinning;
It twists you from foe to a friend;
It seems it's been since the beginning;
It seems it will be to the end.
I've stood in some mighty-mouthed hollow
That's plumb-full of hush to the brim;
I've watched the big, husky sun wallow
In crimson and gold, and grow dim,
Till the moon set the pearly peaks gleaming,
And the stars tumbled out, neck and crop;
And I've thought that I surely was dreaming,
With the peace o' the world piled on top.
The summer -- no sweeter was ever;
The sunshiny woods all athrill;
The grayling aleap in the river,
The bighorn asleep on the hill.
The strong life that never knows harness;
The wilds where the caribou call;
The freshness, the freedom, the farness --
O God! how I'm stuck on it all.
The winter! the brightness that blinds you,
The white land locked tight as a drum,
The cold fear that follows and finds you,
The silence that bludgeons you dumb.
The snows that are older than history,
The woods where the weird shadows slant;
The stillness, the moonlight, the mystery,
I've bade 'em good-by -- but I can't.
There's a land where the mountains are nameless,
And the rivers all run God knows where;
There are lives that are erring and aimless,
And deaths that just hang by a hair;
There are hardships that nobody reckons;
There are valleys unpeopled and still;
There's a land -- oh, it beckons and beckons,
And I want to go back -- and I will.
They're making my money diminish;
I'm sick of the taste of champagne.
Thank God! when I'm skinned to a finish
I'll pike to the Yukon again.
I'll fight -- and you bet it's no sham-fight;
It's hell! -- but I've been there before;
And it's better than this by a damsite --
So me for the Yukon once more.
There's gold, and it's haunting and haunting;
It's luring me on as of old;
Yet it isn't the gold that I'm wanting
So much as just finding the gold.
It's the great, big, broad land 'way up yonder,
It's the forests where silence has lease;
It's the beauty that thrills me with wonder,
It's the stillness that fills me with peace.
Yukon Prospectors:
http://www.emr.gov.yk.ca/mlv_jump.html
www.ivarkreuger.com/metalcharts.htm
www.emr.gov.yk.ca/1638.html#United_Keno_Hill_Mines
http://www.explorenorth.com/
http://www.explorenorth.com/library/linksoftheweek/bestofweek.html
http://www.emr.gov.yk.ca/
BC & Yukon Chamber of Mines -
British Columbia -
http://www.bc-mining-house.com/
The BC & Yukon Chamber of Mines supports and promotes the mineral exploration community and related services.
Roundup is the World's LARGEST technical mineral exploration conference -
http://www.amebc.ca/
FORTYMILE / MICKEY PLACER GOLD PROSPECT - and other - for option, joint venture or sale -
Contact: Grant Allen, Box 31486, Whitehorse, Y.T., Y1A 6K8,
Ph. 867-668-3367 - email: gallan@northwestel.net
World Resource Investment Conference -
June 7 - 8, 2008
Vancouver Convention and Exhibition Centre
http://www.cambridgehouse.ca/index.html
http://www.cambridgehouse.ca/ch_register.html
http://www.wildernessinquiry.org
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