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Forge Resources Announces Planning Extension of the Phase 1 Drilling Program with Financing, Completion of Drill Hole ALT-24-003 with Additional Porphyry Style Mineralization
https://www.newsfilecorp.com/release/213362
June 17, 2024 6:02 PM EDT | Source: Forge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce that as a result of encouraging visual observations indicating a mineralized porphyry system, planning has begun for the extension of the Phase 1 drilling program with a non-brokered flow-through private placement (the "Private Placement") of flow-through units ("Units") Currently, ALT-24-003 and ALT-24-004 are exhibiting some of the most intense alteration and mineralization noted to date on the property.
Drill Program Progress
Hole ALT-24-003 Azimuth 220/-50 degree finished at a final depth of 405 metres, is the first hole testing a large, induced polarization, chargeability anomaly associated an airborne radiometric anomaly and coincident molybdenite/gold/copper in soil anomalies in the area called the Severance Zone. Hole ALT-24-003 is the first of a three-hole, fence planned to drill test across the anomalies using orientated core techniques to help in understanding of the various structural orientations for the company to be able to quickly understand the structural orientations related to and post mineralization.
Geological logging of recently completed drill hole ALT-24-003 indicates extensive potassic alteration followed by silicification, both of which are increasing with depth.
Late pervasive silicification hosts mainly pyrite and molybdenite mineralization with traces of chalcopyrite.
There is a significant increase in micro-quartz to quartz veining and associated mineralization with respect to observations to hole ALT-23-001 completed in November 2023.
Several low-angle structures containing fault gouge in the upper sections of the drillhole. The intensity of the alteration has resulted in complete textural destructive with few relict quartz phenocrysts remaining.
Sections of potassic alteration typical host pyrrhotite/pyrite and minor chalcopyrite and molybdenite mineralization.
Hole ALT-24-004 Azimuth 220/-50 degrees is currently drilled to a depth of 300 metres is the second hole of a three-hole, fence planned to drill test across the anomalies. Quick geological log observations indicate similar extensive alteration and associated mineralization to that in hole ALT-24-003.
Cole McClay, CEO of Forge Resources Corp. comments: "I am incredibly proud of the progress we have made to date. During my recent field visit last week, I witnessed firsthand the dedication and expertise of our team on the ground. Their commitment to safety, and innovative practices is driving our project forward. I am confident that our continued efforts will yield significant results for the company and our stakeholders. We remain focused on responsible project development and are excited about the potential this project holds."
New Claim Blocks Staked
The company has continued to increase its current land position by recently completing a physical staking program of prospective areas. The company has now staked and filed for 29 new claim blocks, totalling 940.9 hectares north of the current claim blocks to cover areas with anomalous soil geochemistry. Figure 2 outlines the area north of the current claim blocks. The Alotta property now consists of a total of 125 mineral claims that cover approximately 2,866.9 hectares that is located 50 km south-east of Western Copper's Casino deposit which is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits in the world.
Figure 1 Indicates the high priority target areas within the Alotta property with potential gold-copper-molybdenum, porphyry style mineralization. Prior to November 2023 none of these target areas had been drill tested. In November 2023 two drill holes (ALT-23-001 and ALT-23-002) were completed on the property which confirmed the porphyry style nature of mineralization.
Figure 1 above shows the location of completed and proposed drill holes. Note: Holes ALT-24-005 to ALT-24-010 are proposed locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/213362_4a897c0f14f29b93_001full.jpg
Figure 2 above shows the area of additional claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/213362_4a897c0f14f29b93_002full.jpg
Figure 3 above shows President, Lorne Warner, P.Geo conducting a quick study of recent core samples (June 14, 2024).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/213362_4a897c0f14f29b93_003full.jpg
Non-Brokered Flow-through Private Placement
The Private Placement of Units will be comprised of up to 750,000 Units at a price of $0.80 per Unit for an aggregate gross proceeds of up to $600,000, with a 20% over allotment amount. Each Unit will consist of one flow-through common share (each a "Share") and one transferable non-flow-through share purchase warrant (each a "Warrant"). Each Warrant will enable the holder to acquire an additional non-flow-through common share of the Company ("Warrant Share") at a price of $1.10 per Warrant Share for a period of one year from the date of issuance.
The Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") and the expenditures will qualify as "flow-through mining expenditures" (as defined in subsection 127(9) of the Tax Act). The gross proceeds from the Units will be utilized for incurring "Canadian exploration expenses" and "flow-through mining expenditures" (as defined in the Tax Act).
The gross proceeds from the sale of Units will be used for general exploration expenditures on the Alotta Project as described below.
Qualified Person
Lorne Warner, P.Geo, and President of Forge Resources Corp. is a qualified person as defined by National Instrument 43-101 and has reviewed and 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.
In addition, 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@forgeresources.com
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.
Honey Badger Silver Deploys A.I. Geophysical Tool at Flagship Plata Project, Targeting "Snowline Style" Mineralization
https://www.accesswire.com/879434/honey-badger-silver-deploys-ai-geophysical-tool-at-flagship-plata-project-targeting-snowline-style-mineralization
Thursday, 20 June 2024 07:00 AM
WHITE ROCK, BC / ACCESSWIRE / June 20, 2024 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") believes it has identified a "Snowline-style" geologic target at its Plata Project, located adjacent to Snowline Gold Corp.'s major discovery in the Tintina Gold Belt of the Yukon Territory.
In a news release dated March 5, 2024, Honey Badger announced that it was increasing its land position at Plata to cover a geophysical anomaly (magnetic low), interpreted as a possible intrusive source of high-grade Plata silver & base metal mineralization. In a news release and webinar dated March 7, 2024, the company discussed in detail the theory that Plata fits the Reduced Intrusive zonation model defined at Snowline's Rogue Project, with the critical link provided by discovery of intrusive-hosted Type IV veins during the 2023 field season. The Company believes these new leases extend to prospective areas identified by combining this model with existing geophysical data.
Honey Badger has engaged ExploreTech (www.exploretech.ai) to analyze geophysical data at Plata to refine the highest-potential targets. ExploreTech is an innovative geoscience computing company founded by Stanford alumni geophysicist Alex Miltenberger PhD and geologist Tyler Hall PhD. ExploreTech uses innovative data interpretation methods including proprietary xFlare™ technology to interpret geophysical data in conjunction with geologic data. This methodology has been successful in siting drill holes which intersected mineralization in multiple geologic settings. At Plata, their work is expected to provide insight as to the possible shape, size, and location of a buried intrusion which would represent a significant mineralized target.
The Company's CEO, Dorian L. (Dusty) Nicol, commented:
"We interpret Plata as being related to the same style of mineralization as Snowline Gold Corp.'s Rogue Project. The work that ExploreTech will do for us using proprietary cloud-based computing technology will help identify potential targets related to the buried intrusion believed to be the cause of the geophysical anomaly covered by our recently acquired claims. We will receive the results of this analysis before beginning summer field work at Plata in July. The objective of this year's field program is to identify drill targets with a program of geologic mapping and sampling focusing on the intrusive-hosted veins discovered in 2023. We now interpret the ‘smoke' represented by high-grade silver mineralization at surface as coming from a large ‘fire' that is not far away. The upcoming work will help us to vector in that direction. Engaging ExploreTech is also another illustration of Honey Badger's commitment to using innovative concepts to cost-effectively advance projects and create asset value."
Plata is a large, intensely mineralized property with significant historic production and silver occurrences of exceptionally high grade. When operating in the 1980s, mined ore was sufficiently high grade to justify being flown to Idaho for processing. Records indicate yield of 9,020 kg (290,000 oz) of silver from a reported 2,041 tonnes of hand sorted material, equivalent to a recovered silver grade of approximately 4,420 grams per tonne (g/t) silver. There are 32 known silver occurrences at Plata with grades up to 19,000 g/t silver and 78 g/t gold, plus extensive un-drilled base metals geochemical anomalies.
Plata benefits from strategic infrastructure, hosting the only airstrip in the area, which also provides access to the Snowline Gold project. The Plata Access Track, while not entirely controlled by Honey Badger, is the only surface link. The district is part of the Tombstone Gold Belt, which includes Sitka Gold Corp., Victoria Gold Corp., and Snowline Gold Corp., and is being recognized as an area of rich mineral endowment and tremendous exploration potential. Plata is in the center of this rapidly emerging region.
Initial exploration work at Plata confirmed the presence of high-grade silver veins at surface and exploration was driven by analogies to the rich Keno Hill Silver Mine in the Yukon, one of the highest-grade silver deposits in the world, now being operated by Hecla Mining. While the analogy to Keno Hill remains valid, the Company in recent months has completed a re-interpretation of data which led to the recognition of Plata as a possibly part of a larger "Snowline-style" mineralized system. This adds the potential for a large gold deposit at Plata in addition to known high-grade silver and base metals.
Location map:
Intrusive-hosted veins:
About Honey Badger Silver Inc.
Honey Badger Silver is a mining consolidation, roll-up, development, and holding company that has assembled a remarkable portfolio from a modest capital base over the past three years. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (2,3).A qualified person has not done sufficient work to classify the foregoing historic resources as current mineral resources and the Company is not treating the estimate as a current mineral resource. The historic resource estimates cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.
Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold.
Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."
ON BEHALF OF THE BOARD
Dorian L. (Dusty) Nicol, CEO
For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella for Investor Relations | msavella @noelbull.
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "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 information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Honey Badger Silver Inc.
White Gold Announces Fully Funded 2024 Exploration Program on its District Scale Land Package in Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-announces-fully-110000567.html
White Gold Corp.
Wed, June 19, 2024 at 4:00 a.m. PDT
WHGOF
0.00%
Figure 1 District Map Showing 2024 Exploration Projects
Figure 1 District Map Showing 2024 Exploration Projects
Figure 2 Betty DDH Targets
Figure 2 Betty DDH Targets
Figure 3 QV Soil Anomaly - DDH Target
Figure 3 QV Soil Anomaly - DDH Target
TORONTO, June 19, 2024 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to announce plans for its fully funded 2024 exploration program on its district scale 315,000-hectare land package, representing approximately 40% of the emerging White Gold District (the “District”) in Yukon, Canada.
The Company’s district scale land package hosts it flagship White Gold Project comprised of 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) which remains open for expansion. The Company has also made multiple new discoveries on the various other properties, identified prospective new drill targets, and continues to evaluate its grassroots properties within this underexplored and prospective District.
The 2024 program will evaluate multiple targets on the Betty and QV properties with maiden diamond drilling. At Betty, four targets including Black Betty, Betty White East, Betty Ford West, and Betty Ford will be drill tested and at QV, a newly discovered 1 km long gold-in-soil anomaly located approximately 9 km northwest of the VG deposit will be drill tested. A regional exploration program on several other properties includes geological mapping and prospecting, soil geochemistry sampling, ground magnetics and VLF-EM and LiDAR surveys. The 2024 exploration program will be focused on identifying new targets with potential for increasing the Company’s gold resources in the District.
A map outlining the Company’s planned 2024 exploration work areas (Figure 1) and target-specific maps (Figures 2-3) accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are excited to kick off our 2024 exploration program” stated Terry Brace, the Company’s Vice President of Exploration. “This year’s program at the Betty property will see maiden diamond drilling at three targets that were ranked as highest priority in a recent prospectivity analysis on the Betty property which incorporated multiple data sets including geological structures interpreted from magnetics and LiDAR, and soil geochemistry. At the QV property, we are carrying out early season ground surveys including additional soil geochemistry sampling and VLF-EM surveying over the new 1 km long gold-in-soil anomaly identified last year, which will be followed by maiden diamond drill testing later this season. The geochemical signature of this anomaly is similar to the Golden Saddle and VG deposits which is quite encouraging”.
“Extensive review and analysis performed of the Company’s comprehensive geochemical, geophysical and geologic structural database of the entire district has guided the selection of targets for the diamond drill program on new gold targets with additional work on our copper-molybdenum porphyry targets as we continue to unlock the mineral endowment potential of this underexplored district. We look forward to an exciting year ahead as we continue to demonstrate the expansiveness of gold mineralization in the White Gold District and potentially other mineral resources,” stated David D’Onofrio, Chief Executive Officer
Highlights:
Exploration diamond drilling totalling 2,800 m on 5 targets across two properties:
Betty property (8 holes, 1600 m) – Including maiden diamond drilling at Black Betty, Betty White East, Betty Ford West targets, and extensional diamond drilling at the Betty Ford target.
QV property (4 holes, 1200 m) – Early season ground surveys including soil geochemistry sampling and VLF-EM surveying, followed by diamond drilling at the newly discovered gold-in-soil anomaly.
Betty Property: Maiden diamond drilling at the Black Betty, Betty White East and Betty Ford West targets is designed to test highest priority areas on the Betty property which were identified by a comprehensive prospectivity analysis through examination and synthesis of the property’s geochemical, geophysical and geological structural data.
QV Property: Maiden diamond drilling will evaluate the newly discovered 1 km long gold-in-soil anomaly (see Company news release dated Feb. 22, 2024, available on SEDAR+) which has a geochemical signature similar to the Company’s VG and Golden Saddle deposits.
Regional exploration on several other properties includes geological mapping and prosecting, soil geochemistry surveys, ground magnetics and VLF-EM surveys, and LiDAR designed to generate new targets for future advancement.
Additional detail on the various components of the program to be released in due course.
Company management will be hosting a webinar to present provide additional detail on the Company’s fully funded 2024 exploration program with details to be announced in due course.
Betty Property
The Betty property is contiguous to and located approximately 40 km east of Newmont Corporation’s (NYSE: NEM, TSX: NGT) Coffee gold deposit (Measured and Indicated Resources of 2.1 Moz gold at 1.28 g/t Au and Inferred Resources of 0.2 Moz gold at 1.04 g/t Au(2)) and 15 km northeast of Western Copper and Gold Corporation’s (TSX: WRN, NYSE: WRN) Casino porphyry deposit (Measured & Indicated Resources of 7.6 Blbs copper and 14.8 Moz gold and Inferred Resources of 3.1 Blb copper and 6.3 Moz gold(3)).
The Betty property is underlain by very favourable geology and is highly prospective for several mineral deposit types including orogenic gold, porphyry copper-molybdenum-gold, epithermal gold-silver, and intrusion-related gold deposits. The property is located on the eastern strike extension of the Coffee Creek Fault (“CCF”), which exerts important structural controls on the Coffee deposit. The Betty Ford target, which has been an exploration focus for the past few field seasons, is located on an east-west striking secondary splay located approximately 1 km south of the CCF. Exploration diamond drilling at Betty Ford has intersected thick intervals of near-surface high-grade gold mineralization along 175 m of strike length within a polylithic breccia host unit, including 3.46 g/t Au over 50.0 m in hole BETFD21D003, 3.38 g/t Au over 53.0 m in BETFD23D013 and 2.96 g/t Au over 46.50 m in BETFD23D014, including a higher-grade subinterval of 5.03 g/t Au over 25.0 m. The Mascot target, located approximately 5 km southeast of Betty Ford, is underlain by diorite to granodiorite intrusive rocks and covers a large cluster of gold-in-soil geochemical anomalies measuring 4 km E-W x 4 km N-S. Exploration reverse circulation (RC) and diamond drilling by the Company in 2022 intersected 4.13 g/t Au over 7.62 m in hole BETMAS22RC004, 2.02 g/t Au over 8.60 m in BETMAS22D008, and 1.25 g/t Au over 17.35 m at the Davis Zone, and 1.13 g/t Au and 33.71 g/t Ag over 14.80 m at the Page Zone. In addition to the Betty Ford and Mascot targets, the Betty property hosts several other prospective targets which have seen limited previous exploration and no diamond drilling.
A prospectivity analysis of the Betty property was recently completed by the Company and Dr. Matias Sanchez of Fault Rocks Inc., which incorporated 26 data layers of structural interpretation based on LiDAR and magnetics, as well as extensive soil geochemistry data, to produce an integrated prospectivity ranking of orogenic gold and porphyry copper-gold targets. Three of the highest ranked orogenic gold targets have been selected for maiden diamond drill testing in 2024: 1) Black Betty; 2) Betty White East; and 3) Betty Ford West.
Black Betty
The Black Betty target forms a 700 m-long gold-in-soil anomaly with locally coincident anomalous Cu-As-Bi. The target is located in the western region of the Betty property and immediately overlies the CCF, along with second-order NW-trending splays of the CCF. Previous field mapping suggests that gold is hosted within strongly quartz-sericite altered felsic augen gneiss, indicating potential for orogenic gold-hosted mineralization similar to the Golden Saddle deposit. Historical RAB drilling has been undertaken at the Black Betty target; however, the holes were unable to reach their target depths due to poor ground conditions. The planned diamond drilling represents the first diamond drill holes at the target and is anticipated to test the gold potential of the interpreted structures.
Betty White East
Betty White East, which forms an approximately 2 km-long gold-in-soil anomaly, is located about 7 km southeast of Betty Black and is also positioned along and adjacent to the CCF. Mineralization at the Betty White East target appears to be associated with a series of second-order, NW-trending splays related to the CCF. Gold mineralization appears to be associated with broad areas of strong sericite alteration, localized silicification and deformation of the host rocks, and coincident Ag, As, Cu, Mo, Zn, and Bi soil geochemistry. Geologically, the target is thought to be comprised of a combination of strongly foliated, variably sericite-altered augen gneiss, banded quartzite, and biotite quartz feldspar gneiss. Gold mineralization is interpreted to be vein-hosted and associated primarily with pyrite and lesser arsenopyrite mineralization. The 2024 drilling program marks the first diamond drilling at the Betty White East target.
Betty Ford West
The Betty Ford West target represents a 700 m-long by 150 m-wide gold-in-soil anomaly extending west from the Betty Ford target. The target is defined by a Au, As, and Sb soil anomaly with follow up rock and GT probe samples returning anomalous Au (up to 0.346 g/t). The mineralization is interpreted to be hosted within strongly sericite-altered feldspar augen gneiss and strongly folded biotite schist and gneiss and is associated with disseminated pyrite and arsenopyrite. Based on ground magnetics and an IP survey in the area, mineralization appears to occur at the intersection of the NW-trending and W-trending faults. The western region of the Betty Ford West trend appears to be dextrally offset by a prominent gully fault, with the anomaly continuing westward to form the Grable target. Combined, the Betty Ford West and Grable targets cover an approximate strike length of 1.6 km.
Betty Ford
A diamond drill hole will be drilled at the Betty Ford target as part of the 2024 drilling program. Gold mineralization at the Betty Ford target is primarily hosted within the oxide and transitional domains of an approximately 100 m-wide polylithic breccia host unit. To date, gold mineralization within these domains has been traced to approximately 75 m vertical depth and 175 m along strike. Additionally, broad intersections of gold mineralization have recently been identified in the sulphide domain, which may be part of a potential feeder structure responsible for broad and higher-grade near-surface gold mineralization.
The purpose of the 2024 drilling at Betty Ford is to test the eastern extent of the gold-bearing breccia while also crossing an interpreted fault to test the cross-fault extension potential. The 2024 drilling will also test for a possible eastern feeder structure of economic gold tenor within the sulphide domain to explore the vertical potential of gold mineralization at the target. An estimated 200 m of diamond drilling is planned for Betty Ford.
QV Property
In 2023 a soil geochemistry survey identified a new 1 km long gold-in-soil anomaly located approximately 9 km northwest of the VG deposit (see Company News Release dated February 22, 2024). The soil anomaly generally strikes east-west. Ten (10) samples from the anomaly returned greater than 50 ppb Au in the range of 51.1 to 327 ppb Au. The anomaly also has associated anomalous tellurium. Arsenic-in-soil values are low, and overall, the signature of the anomaly appears to be similar to the VG deposit and the Golden Saddle deposit suggesting a similar style of mineralization. The strike length of the soil anomaly is generally comparable to that of the VG deposit anomaly and remains open along strike to the east and west.
Planned exploration work on the QV property in 2024 will focus on detailing and drill-testing the soil anomaly. Early season work includes additional infill and expansion soil geochemistry sampling and ground VLF-EM surveying. The infill soil samples will provide higher sample density and resolution of the anomaly, and 2D inversions of the VLF-EM data is expected to provide a reliable dip on the associated controlling geological structure. Four diamond drill holes totalling approximately 1200 m are planned to test the target along its strike length, with final hole locations to be selected based on results of the ground surveys.
Regional Exploration
Regional exploration work including geological mapping and prosecting, soil sampling, ground magnetics and VLF-EM surveying, and LiDAR will be carried out on several properties with a goal of identifying new targets for future advancement.
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;; 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
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8aeaaab-a272-4421-8a6b-634f83761106
https://www.globenewswire.com/NewsRoom/AttachmentNg/73e579a8-9c84-450f-90dd-3dc2e8e89ddf
https://www.globenewswire.com/NewsRoom/AttachmentNg/c6cd54f7-35ed-44f4-925e-ba1729f7f6fc
Snowline Gold Announces Initial Mineral Resource at its Valley Gold Deposit
https://www.accesswire.com/877820/snowline-gold-announces-initial-mineral-resource-at-its-valley-gold-deposit
Monday, 17 June 2024 05:45 AM
Initial Mineral Resource Estimate defined for the Valley Gold Deposit, located on Snowline's 100% owned Rogue Project in the Yukon Territory, Canada:
Indicated Mineral Resource: 76 Mt at 1.66 g/t Au for 4.05 million ounces
Inferred Mineral Resource: 81 Mt at 1.25 g/t Au for an additional 3.26 million ounces
Resource is constrained within a revenue factor 0.72 pit shell and reported above a 0.40 g/t Au cut-off grade
Quality of discovery highlighted by continuous, non-refractory gold mineralization, with a significant component of higher-grade mineralization starting from bedrock surface (see Table 3) providing strength and optionality for potential future development scenarios
Initial resource has clear potential for expansion, with open zones of 1-2 g/t Au mineralization across multiple broad edges of the deposit and with abundant mineralization encountered beyond the limits of the current pit shell
The Valley Deposit sits on <0.01% of the Company's land holdings, within a cluster of high priority targets sharing key geological characteristics with Valley highlighting district level potential
2024 drill program at Valley ongoing, with three drills active on the Valley Deposit and roughly 4,000 m drilled to date (assays pending).
VANCOUVER, BC / ACCESSWIRE / June 17, 2024 / SNOWLINE GOLD CORP. (TSX-V:SGD)(US OTCQB:SNWGF)
Sitka Resumes Drilling at Its RC Gold Project, Yukon
https://www.accesswire.com/876866/sitka-resumes-drilling-at-its-rc-gold-project-yukon
Thursday, 13 June 2024 08:30 AM
VANCOUVER, BC / ACCESSWIRE / June 13, 2024 / Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG)(FSE:1RF)(OTCQB:SITKF)
Yukon Metals Doubles Land Position
https://www.newswire.ca/news-releases/yukon-metals-doubles-land-position-817591759.html
Yukon Metals Corp. Jun 12, 2024, 09:00 ET
VANCOUVER, BC, June 12, 2024 /CNW/ -- Yukon Metals Corp. (CSE: YMC) (Frankfurt: E770) has doubled its land position from an initial 18,000 hectares (ha) acquired as part of the Berdahl property transaction announced Jan 15, 2024, to 36,000 ha after considerable staking over the last few months expanding the initially acquired Yukon portfolio.
Areas of focus in this staking program were the high priority AZ property, surrounding its Talbot property, as well as a new set of prospective claims near the Alaska Highway, which has been named "Fairway".
Figure 1: AZ Property including the new AZ North Addition. New Fairway Property south of Tchawsahmon Lake.
Figure 2: Additional staking on Talbot Property.
"During these past months, prior to Closing of the acquisition, the Company has been busy staking ground around two key properties, AZ and Talbot, as well as staking new claims at Fairway. AZ is a high-priority potential copper-gold porphyry asset, while Talbot hosts a substantial gold and silver anomaly. Both AZ and Fairway are within 20km of the Alaska Highway," said Rory Quinn, President and Chief Executive Officer. "I look forward to sharing ongoing details of what is going to be a busy exploration season."
AZ & FAIRWAY
The AZ and Fairway claim area was prospected by Ron Berdahl in the early 1990's while working for Noranda (Yukon Assessment 91-051 1991). Copper mineralization is noted on the AZ property; Rock float assays returned an average of 10% Cu, 126 g/t Ag and 7.08 g/t Au from four samples in 1993, noted in assessment report 093101 (press release June 3, 2024). The author further stated, "anomalous copper gold-bearing skarn underneath the float showing suggests a local source for the mineralized float on the property." In this region, small placer operations were active on Sanpete, Pan and Gold Creeks in the 1930's.
On behalf of the Company, prior to Closing, Ron Berdahl staked the area north of the southern AZ claims, which covered an additional 7,625 ha in 372 additional claims (see Figure 1). These claims include a gossanous area on Chair Mountain associated with northwest trending faults near the contact zone of the Nikolai Volcanics. Only 11 samples were taken in this area in 1987. In 1989 prospectors returned and blasted trenches near Sanpete creek and found quartz veining with sulfides. One 25cm sample #62951 (true width unknown) assayed 51 ppb Au, 5.6 ppm Ag, 1,400 ppm Cu, 8,880 ppm Pb and >20,000 ppm Zn (Assessment report 092798). Zinc was never re-assayed.
Another sample in the same trench area assayed 59 ppb Au, 1.2 ppm Ag, 278 ppm Cu, 429 ppm Pb, 13,380 ppm Zn (grab sample #62954). Follow-up work has never been completed in this area.
A similar geological setting occurs with the presence of the volcanic rocks and limestone on the newly staked Fairway Property. This package of mineralization is highly prospective with 10km strike length (see Figure 1) through Nikolai Volcanics and Chitistone Limestone mapped by the Geological Survey of Canada (OF 2188). The Fairway Property adds 2,552 ha in 126 new claims.
Both the entirety of the AZ and Fairway properties are 10 and 18 kilometers respectively from the Alaska Highway and may be accessed by short helicopter flights. Chair Mountain was previously accessed by trail.
TALBOT
Several key factors occur in this area such as a 4km gold in soil and talus fines anomaly. Additionally, there are float quartzite rock samples such as #40868 which assayed 3.67 g/t Au, 832 g/t Ag and 1,800 g/t Cu and float quartzite rock sample #40870 which assayed 3.59 g/t Au. The anomaly and rock samples were noted in assessment report 096342 (press release June 3, 2024). Overall, there is continuity in the geology and other positive ridge and spur samples taken on the Talbot property by Ryan Gold in 2012.
Thus, it became apparent that the Company should stake additional claims in the area to cover the major anomaly and the ridge and spur smaller anomalies. The Company added 370 claims covering an additional 7,689 ha of exploration ground. The additional ground which covers eastward through the psammitic and pelitic schists and the surrounding Ruby Range batholith (Yukon Geological Survey, OF 2011-2). The Ruby Range batholith has numerous porphyry occurrences along with other intrusive rocks in the coastal range plutonic suites (Fonseca and Bradshaw, Open File 2005-5). The Talbot Property is proximal to Burwash Landing and Destruction Bay on the Alaska Highway and is easily accessible by helicopter from nearby roads. Destruction Bay is 260 km west of Whitehorse.
The technical information contained in this news release has been reviewed and approved by Peter Born, Ph.D., P.Geo, who is a Qualified Person defined under National Instrument 43-101.
About Yukon Metals Corp.
Yukon Metals represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's (SGD) 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, exploration 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.
The Yukon
The Yukon ranks 10th most prospective for mineral potential across global jurisdictions according to the Fraser Institute (Fraser Institute Survey of Mining Companies 2023) and is host to a highly experienced and conscientious local workforce, created by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold's (SGD) Rogue Project - Valley Discovery, demonstrate the Yukon's potential to generate fresh district-scale mining opportunities.
For more information about Yukon Metals, please contact:
Rory Quinn, President & CEO
Yukon Metals Corp.
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.
Photo: https://mma.prnewswire.com/media/2436398/Yukon_Metals_Figure_1.jpg
Photo: https://mma.prnewswire.com/media/2436399/Yukon_Metals_Figure_2.jpg
Logo: https://mma.prnewswire.com/media/2428353/4757483/Yukon_Metals_Corp_Logo.jpg
SOURCE Yukon Metals Corp.
Onyx Gold Receives Drill Permit for King Tut Project and Provides 2024 Exploration Program Update
https://www.newsfilecorp.com/release/211891
June 06, 2024 7:00 AM EDT | Source: Onyx Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2024) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx Gold" or the "Company") is pleased to announce that it has received its approved Quartz Class 1 Notification for the King Tut Property ("King Tut," "Project" or "Property"), in Yukon's Tombstone Gold Belt (Figure 1). The Company also provides an update on its preliminary summer exploration plans for the Project, including the newly acquired WEAS claims.
Highlights
Onyx Gold has received its Quartz Class 1 Notification for the King Tut Project from the Yukon Government. This permit paves the way for the Company to execute its 2024 exploration programs, which include up to 4,900 meters of diamond drilling.
The Company has outlined a comprehensive Phase 1 exploration program for the King Tut Project. This program, scheduled for July, includes geological mapping, prospecting, and rock/soil sampling in the Golden Mask, Ra (formerly WEAS), and Main Tut prospect areas. The results of this program will be instrumental in shaping a potential Phase II diamond drilling program.
Spring data compilation and target generation by in-house staff and external consultants is complete and is under review by Company management.
Archer, Cathro & Associates (1981) Limited ("Archer Cathro") has been contracted to provide technical assistance and logistical support for the Program.
"With the arrival of warmer weather and the completion of our Timmins drilling program, our team is excited to shift their focus back to our King Tut property, proximal to Snowline Gold's properties in the Yukon Territory," said Brock Colterjohn, President & CEO. "Our Phase I exploration program is designed to leverage and build upon last year's encouraging results that confirmed widespread gold mineralization across the Main Tut and Golden Mask anomalies."
"We are particularly excited to explore the significantly expanded footprint of the Golden Mask intrusion as well as our recent Ra (WEAS) acquisition. The Ra prospect holds significant gold potential, confirmed by historical work, associated with gold-bearing sheeted quartz veins within an exposed 3 km by 2 km granitic intrusion."
He further commented, "The Phase I program results will help refine and prioritize drill targets ahead of a potential Phase II diamond drilling program later this summer. We look forward to the busy field season and believe this year's programs mark an exciting step towards our goal of unlocking a new gold discovery in the prolific Tombstone Gold Belt."
Permitting Update
The Quartz Class 1 Notification enables the Company to execute exploration programs pursuant to the Yukon Quartz Mining Act and Territorial Lands (Yukon) Act, which include prospecting, geological mapping, geochemical sampling, and diamond drilling (up to 4,900m) across the Property. The Notification is valid until June 2025 and is renewed annually. The active Class 1 Notification for the recently acquired WEAS claims will be renewed in July 2024.
The Company is also working on regulatory authority and community engagement as part of a Class III Exploration Permit application. Receipt of a Class III Permit would enable expanded exploration field camp construction and increased drilling activities with a duration of five to ten years.
2023 King Tut Program Summary and 2024 Summer Exploration Plans
Work by the Company in 2023 focused on a first-ever drill program on the property to test the promising Main Tut and Golden Mask gold-in-soil anomalies, which are associated with two separate intrusion-related gold systems, and the execution of property-wide geophysical surveys, geochemical surveys, and mapping and prospecting programs to refine drill targets and identify prospective areas for future exploration. Results from the inaugural nine-hole 2,123-meter drill program confirmed widespread gold mineralization across the Main Tut and Golden Mask anomalies, including 0.30 g/t Au over 32.50 m in drill hole KT23-005, validating the existence of potential bulk-tonnage reduced intrusion-related gold systems ("RIRGS") on the Property (See Company News Release dated November 15, 2023). In addition, new airborne magnetic surveying and soil sampling have also significantly expanded the size of the mapped intrusions at both targets (Figure 2).
The Company is preparing to launch an early summer Phase 1 exploration program, which will consist of reconnaissance surface sampling and mapping surrounding the newly acquired Ra intrusion located on the WEAS claims (See Company News Release dated May 9, 2024) (Figure 3) and follow-up fieldwork on the Golden Mask and Main Tut prospects based on last year's encouraging results. The results from this program will inform a potential drilling program later in the summer. Archer Cathro has been contracted to provide technical assistance and logistical support for the Program.
About the King Tut Project
The King Tut Project is located 10 km south of Snowline Gold's consolidated Rogue, Einarson and Cynthia properties and is 50 km from Snowline's Valley discovery made in June 2021. At King Tut, past exploration work by a predecessor company outlined multi-kilometer long gold-in-soil anomalies associated with mapped granitic to granodioritic intrusive bodies, and drilling by the Onyx Gold in 2023 confirmed widespread gold mineralization across the Main Tut and Golden Mask anomalies validating the bulk-tonnage RIRGS potential of the Project. The newly acquired Ann Mark Zone of the Ra intrusion in the center of the Project hosts multigenerational gold-bearing sheeted quartz veins within an exposed, 3 km by 2 km granitic intrusion and drilling by a previous operator intersected 1.0 grams per tonne gold over 21 meters (true width unknown) associated with the sheeted quartz veins, along with surface grab samples of up to 20.1 g/t Au.
About the Yukon Gold Properties
Onyx Gold controls a portfolio of greenfield gold properties in eastern Yukon, totaling 227 square kilometers. The King Tut Property is Onyx Gold's most advanced and compelling property in the Yukon, located in the heart of an emerging reduced intrusive-related gold district in the Selwyn Basin. Previous fieldwork identified large-scale undrilled gold-in-soil anomalies in a comparable geological setting 50 km from the Rogue/Valley Discovery, one of Canada's most significant new gold discoveries.
About Onyx Gold
Onyx Gold is an exploration company focused on well-established Canadian mining jurisdictions, with assets in Timmins, Ontario, and Yukon Territory. The Company's extensive portfolio of quality gold projects in the greater Timmins gold camp includes the Munro-Croesus Gold property, renowned for its high-grade mineralization, plus two additional earlier-stage large exploration properties, Golden Mile and Timmins South. Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory, which is currently gaining significance due to recent discoveries in the area. Onyx Gold's experienced board and senior management team are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
Qualified Person and Quality Assurance
Ian Cunningham-Dunlop, P.Eng., Executive Vice President for Onyx Gold Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Figure 1 - Regional Map - Yukon's Selwyn Basin
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/211891_eb2cfe4624a629ed_002full.jpg
Note - Highlighted historical samples noted herein have not been verified by the Company, but they provide evidence for the general gold endowment of the claims. Grab samples are selective in nature and don't necessarily represent bulk tonnage grades
Figure 2 - Property Map - King Tut and WEAS Properties - Surface Gold Geochemistry
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/211891_eb2cfe4624a629ed_003full.jpg
Figure 3 - Property Map - WEAS Property - Historical Surface and Drilling Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/211891_eb2cfe4624a629ed_004full.jpg
On Behalf of Onyx Gold Corp.
"Brock Colterjohn"
President & CEO
For further information, please visit the Onyx Gold Corp. website at www.onyxgold.com or contact:
Brock Colterjohn, President & CEO
or
Nicole Hoeller, VP of Corporate Communications
Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165
Email: nicole@onyxgold.com or information@onyxgold.com.
Website: www.onyxgold.com
LinkedIn: https://www.linkedin.com/company/onyx-gold-corp/?viewAsMember=true
Twitter: https://twitter.com/OnyxGoldCorp
Neither 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 release.
Cautionary and Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the intention of the Company to proceed with the exercise of the Option under the Agreement on the terms and conditions set out therein, the Company's expectation to issue the Shares pursuant to the Agreement, the approval of the TSXV for the Agreement, the Company's future exploration plans, the possibility of the Bonus Payment becoming payable and the expected entering into of the Lock-Up Agreement.
These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Agreement; changes in the Company's plan with respect to the exercise of the Option and the Company's exploration plans; that the obligation to make the Bonus Payment may be triggered; that the Lock-Up Agreement may not be entered into; recent market volatility; and the state of the financial markets for the Company's securities.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the Agreement, that the Company will be able to comply with the terms of the Agreement, including the issuance of the Shares, in order to exercise the Option, that the Company will have the necessary resources to carry out its exploration plans as anticipated, or at all, and that the Company will receive an executed Lock-Up Agreement from HighGold.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE: Onyx Gold Corp.
Transition Metals Initiates ZTEM Survey at Pike Warden, Yukon
https://www.newsfilecorp.com/release/212365
June 11, 2024 7:30 AM EDT | Source: Transition Metals Corp.
Deep penetrating helicopter borne AFMAG and EM survey initiated,
3D resistivity and magnetic inversion models to be developed to resolve size and depth of potential for a large mineralized system.
Sudbury, Ontario--(Newsfile Corp. - June 11, 2024) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company") reports that it has commenced work on its Pike Warden property ("the Property"), Yukon. The Company has engaged Geotech Ltd. to complete approximately 650-line kilometres (km) of helicopter borne, Z-Axis Tipper Electromagnetic system (ZTEM™) survey over the property. The ZTEM™ system utilizes deeply penetrating electromagnetic signatures (>1-2 km) that permit the modelling of geophysical properties which can be used to infer geologic units, structures, and alteration assemblages, at a system scale, based on resistivity contrasts. Audio-frequency magnetic (AFMAG) data from this survey will complement this data set and be used to create 3-D subsurface resistivity and magnetic inversion models, which will help determine, characterize, and prioritize prospective targets on the Property.
Greg Collins, P.Geo., COO of Transition Metals, commented, "After only two field seasons, we have advanced the project from a collection of high-grade polymetallic showings towards an understanding of mineralizing processes that support strong indications of porphyry Cu-Au and epithermal mineralization. We expect that the ZTEM™ survey data will help us qualify the potential size and depth of system scale features and help prioritize regions for drill targeting."
Figure 1. - Location of the Pike Warden Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/212365_93fc697844bbeae6_002full.jpg
Next Steps
The Company expects Geotech Ltd. to complete the more than 650 line-km ZTEM™ survey within a couple of days, pending weather conditions, quality of ZTEM™ signal strength, and successful QA/QC of survey data. Preliminary data are expected to be delivered to the Company shortly after completion of the survey, with final data and reports expected within eight weeks from the completion of the survey. Starting in mid-July, the Company plans to resume sampling, bedrock mapping, and alteration mapping efforts on the Property, inclusive of following up on the expected preliminary survey results. These efforts will further aid in characterizing and defining mineralization and highlighting prospective target sites for drilling 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 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.
CANTEX INTERSECTS COPPER MINERALIZATION IN FIRST THREE HOLES ON ITS NORTH RACKLA COPPER-GOLD, GERMANIUM AND BASE METAL PROJECT IN THE YUKON
https://www.newswire.ca/news-releases/cantex-intersects-copper-mineralization-in-first-three-holes-on-its-north-rackla-copper-gold-germanium-and-base-metal-project-in-the-yukon-848539399.html
Cantex Mine Development Corp. Jun 10, 2024, 09:26 ET
KELOWNA, BC, June 10, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") is pleased to announce that it has intersected copper mineralization in its first three holes drilled at its North Rackla project, Yukon.
Copper Project Drilling
Since drilling first commenced on June 3, 2024 three diamond drill holes have now been completed at the Copper Project on the western side of the Company's North Rackla property. Previous drilling on this project intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper (see news release of April 13, 2023).
Hole YKDD24-287 was drilled at a -45 degree dip and 13 degree azimuth. It intersected 1.8 metres of an estimated 8% chalcopyrite contained within a quartz carbonate breccia from 7.1 metres depth. Hole YKDD24-288 was drilled from the same pad at a -45 degree dip at an azimuth of 35 degrees. This hole intersected 17 metres of an estimated 2% chalcopyrite from 9.5 metres depth. Hole YKDD24-289 intersected 5.05 metres of an estimated 2% chalcopyrite from 3.3 metres depth. The hole was from the same pad, at a dip of -45 degrees and an azimuth of 305 degrees.
Following logging the mineralized portions of the holes are split. One half of the split core is in the process of being submitted to laboratories for sample preparation and analysis for copper, gold and associated elements. Results will be reported as soon as available.
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
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, 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) are not statements of historical fact and may be 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 press 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. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
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
Lode Gold Commissions Cutting Edge QMAG(T) Geophysical Survey on Its Golden Culvert and Win RIRGS And Orogenic Gold Projects, Yukon
https://www.newsfilecorp.com/release/211940
June 06, 2024 11:45 AM EDT | Source: Lode Gold Resources Inc.
Toronto, Ontario--(Newsfile Corp. - June 6, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce it has commissioned a QMAGT geophysical survey (1,151-line kilometres) on its Golden Culvert and Win projects in the Yukon. The QMAGT system is to be flown out of Seabridge Gold’s 3-Aces camp southwest of Lode Gold’s properties. This is a collaborative alliance with other Yukon explorers such as Snowline Gold, Seabridge Gold and Aben Minerals, whereby Lode Gold and the associated companies will save on mobilization/demobilization and resultant cost-effective means of data generation.
Magnetic surveys form the backbone of most exploration programs; they in effect measure the amount of iron in rocks and produce a geology map forming the foundation for further exploration. From this information our field teams can swiftly zero in towards discovery. This full vector system highlights, and is particularly suited to mapping structure, and subtle contrast between rock types, both important factors for controlling mineralization.
The QMAGT system is an enhanced helicopter-borne magnetic survey system that measures the magnetic field utilizing a SQUID (superconducting quantum interference device) sensor that measures the complete gradient tensor (second order) of the earth's magnetic field (otherwise known as full tensor magnetic gradiometry - FTMG). The QMAGT data is particularly useful for 3-D magnetic modelling and this work may be commissioned over areas of interest once the results have been reviewed.
This FTMG measurement provides directional information about the magnetic field, which is not available from total field sensors, which have been the industry standard for many years. The SQUID sensors are developed by Supracon AG of Jena, Germany. Operating within a liquid helium bath, the sensors measure the magnetic field with an order-of-magnitude greater sensitivity. The sensor system is the result of over 20 years of development and testing, flying many successful exploration campaigns.
Mr. Buddy Doyle commented, "Having used this system in the past, I was impressed by the data it produced. One main advantage is it is a vector system, measuring the field in the x, y and z directions. This contrasts with the total field, measured by the industry-standard Cesium magnetometer surveys, where there is no vector information. The other advantage is that the SQUID device has increased sensitivity, able to highlight more subtle contrasts compared to usual surveys. This system is particularly good at lighting up structure, and this will be very helpful in further understanding the orogenic gold mineralization we have recognized on the Golden Culvert and WIN properties. The system will also map the hornfels around the intrusions hosting the RIRGS mineralization that our recent work has confirmed on the WIN Property."
Final data is expected before the end of June and will be used to guide our field crews when they are deployed in early July.
ABOUT LODE GOLD
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 50m) 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.
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 www.lode-gold.com or contact:
Gary Nassif
Senior Vice President, Director
gary@lode-gold.com
+1 (416) 915-4157
Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext. 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.
SOURCE: Lode Gold Resources Inc.
Aben Minerals Mobilizes Crew and Equipment for Geophysical Survey at Justin Gold Project
https://ca.finance.yahoo.com/news/aben-minerals-mobilizes-crew-equipment-110000118.html
Aben Minerals
Thu, June 6, 2024 at 4:00 a.m. PDT·5 min read
ABNAF
+37.64%
Vancouver, BC, June 06, 2024 (GLOBE NEWSWIRE) -- Aben Minerals Ltd. (TSX-V: ABM) (OTCQB: ABNAF) (Frankfurt: R26)
Forge Resources Announces Completion of First 2024 Planned Drill Hole at Alotta, Showing Porphyry Style Mineralization
https://www.newsfilecorp.com/release/211773
June 05, 2024 8:30 AM EDT | Source: Forge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the completion of the first 2024 planned drill hole at Alotta, showing porphyry style mineralization. The continuation of the Phase 1 drilling program is on schedule. Hole ALT-24-001 has now been completed with diamond drilling to a depth of 402 metres. Hole ALT-24-002 is now underway and is also located in the Payoff Zone area.
Hole ALT-24-001 located at proposed drill site PDH-001 and the first hole to drill test the Payoff Zone. The hole azimuth/dip: 135 / -50 degrees and final depth of 402 metres tested underneath Payoff Zone, where strongly anomalous rock samples (up to 8.7 g/t gold) were sampled over a 200 x 300 m area.
Visually, ALT-24-001 appears to have a higher concentration of pyrite stringers than what was observed in two November 2023 drillholes. In November 2023 two drill holes were completed on the property which confirmed the porphyry style nature of mineralization. As announced on February 24, 2024, Hole ALT-23-01 intercepted 211.65 metres of 0.46 grams/tonne gold from the first ever diamond drill hole on the property.
ALT-24-001 Drill collar has been placed near the ridgetop to drill south, below the target. This topography allows the drill hole to maintain a near-surface (~100 metres) path and reach its final depth, approximately 200 metres below surface, giving adequate ability to test near-surface mineralization at the Payoff Zone.
Core logging and geotechnical studies to the 200-metre interval indicates the core hosts continuous mineralization consisting of common sulphide stringers with trace occurrences of chalcopyrite and molybdenite.
Core is primarily exhibiting pervasive chlorite alteration which overprints red-brown alteration. Several intrusions of the quartz porphyry are observed and generally identified through the concentration of phenocrysts as well as the size and shape of quartz phenocrysts.
Lorne Warner, President, and P.Geo for Forge Resources Corp., comments, " Systematic exploration indicated the Alotta to have the potential to host a large porphyry deposit and our very limited drilling to date is confirming that potential. The spring program is testing never before drilled targets over a large area and if successful, it will prove Alotta's potential to host a large potential deposit in close proximity to one of the largest, undeveloped porphyry deposits in the world, the Casino deposit."
Figure 1 - ALT-24-001 Drill Platform
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/211773_5287c868d4ed1833_001full.jpg
Figure 2 outlines the high priority target areas within the Alotta property with potential gold-copper-molybdenum, porphyry style mineralization. None of these target areas have been drill tested. In November 2023 two drill holes (ALT-23-001 and ALT-23-002) were completed on the property which confirmed the porphyry style nature of mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/211773_5287c868d4ed1833_002full.jpg
The Alotta property consists of 96 mineral claims that cover approximately 1,926 hectares that is located 50 km south-east of Western Copper and Gold's Casino deposit. The Casino deposit is one of the most economic, greenfield copper-gold mining projects in the world which is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits in the world. Western Copper and Gold announced on April 30, 2024, the completion of their bought deal public offering with gross proceeds of $46 million. Subsequently, on May 6, 2024, they announced the completion of a further $5 million financing with Rio Tinto.
Figure 3 provides an illustration of the Casino Deposit superimposed over unglaciated, anomalous copper in soil geochemistry.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/211773_5287c868d4ed1833_003full.jpg
Figure 4 - Alotta Camp
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/211773_5287c868d4ed1833_004full.jpg
Qualified Person
Lorne Warner, P.Geo, and President of Forge Resources Corp. is a qualified person as defined by National Instrument 43-101 and has reviewed and 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.
In addition, 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@forgeresources.com
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.
Fireweed Launches Largest Regional Exploration Campaign at Macpass
https://ca.finance.yahoo.com/news/fireweed-launches-largest-regional-exploration-113000323.html
Fireweed Metals Corp.
Wed, June 5, 2024 at 4:30 a.m. PDT·8 min read
FWEDF
+6.16%
VANCOUVER, British Columbia, June 05, 2024 (GLOBE NEWSWIRE) -- FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQX: FWEDF) is pleased to report the launch of the largest regional program at Macpass aiming to unlock the 977 km2 district-level potential and develop new targets to drill-ready state.
A 14,000+ metre drill program using four diamond drill rigs will have 8,000 m allocated to step out holes at Tom, Jason, and Boundary, while 6,000 m will test new targets at Macpass as part of the regional program.
Objectives of the 2024 program are drilling new discoveries from target-rich regional exploration, and high-potential step out drilling from known zones at Macpass.
CEO Statement
Peter Hemstead, Interim CEO, stated “We are excited to commence the largest regional exploration program Macpass has ever seen. Comprising over 6,000 metres of drilling at greenfield targets, as well as comprehensive ground and airborne geophysical and geochemical surveys, this regional work will aim to unlock over 40 kilometres of an under-explored prospective trend at Macpass. As part of our growth strategy, we are also excited to be drilling step-out holes at Tom, Jason and Boundary that will primarily focus on targets that may form extensions of the major known zones.”
Adam Lundin Statement
Adam Lundin, Strategic Advisor to Fireweed, stated “Previous drilling at Tom, Jason and Boundary Zone demonstrated the very large mineral endowment and future growth potential at Macpass. However, we have only just scratched the surface in testing the true scale of this district in the making. This summer’s exploration program is focused on growing the district’s mineralized footprint through drilling many of the compelling greenfield targets for new discoveries, as well as step-out targets at Tom, Jason and Boundary.”
Drill Program
The 2024 drill campaign at Macpass is planned to follow up on the success of the 2023 campaign (see Figures) and will utilize four diamond drill rigs to test targets at Tom, Jason, Boundary, and new regional generative targets. The first drill rig is anticipated to start turning by June 7, 2024, ramping up to four operating rigs by late June.
Exploration: Exploration drilling is reserved to test new greenfield targets. Two currently defined prospects Start Zone and Popcorn are drill ready, with the remaining metreage designed to be allocated later in the season as new targets are defined through our regional exploration efforts.
Tom South: Drilling will target step-outs that lie outside of the current mineral resource following up on successful intercepts of feeder-style mineralization from the 2023 program (Photo 1).
Jason: Drilling designed to follow up on the intersection in JS23-001D1 in Jason South.
Boundary Zone: Drilling designed to step out from known mineralization at Boundary Zone and to follow up on high-grade zones identified in 2023.
Picture1
Figure 1: Deposits, Advanced Prospects, and Targets at the Macpass District
Regional Exploration
An expansive regional exploration program is planned for the 2024 field campaign at Macpass. This program will utilize a combination of airborne and ground-based exploration techniques, including a helicopter Versatile Time Domain Electromagnetic (VTEM) and magnetic survey, Light Detection and Ranging (LiDAR) survey, ground-based gravity on both local and regional scale grids, soil sampling, prospecting, and mapping. The program is designed to delineate and advance current prospects, showings, and anomalies, as well as explore new targets in a commodity agnostic manner. The primary focus of the regional exploration program is on new sediment hosted zinc, lead, and silver targets; however, the program includes a number of targets with the geological potential for reduced intrusion related gold systems (RIRGS).
Operational Update
Work has been completed on a new core-logging facility to streamline core logging process to help facilitate the efficient flow of core and data. As part of the new build, historical core has been relocated from Tom Camp to the adjacent facility at Sekie, Fireweed’s new 50-person, sub-alpine camp designed to be operable during winter conditions. Upgrades were also completed at the original Tom Camp to support continued summer habitation over the coming years.
Qualified Person Statement
Technical information in this news release has been approved by Fireweed Metals Senior Geologist, Ian Carr, P.Geo. (BC), a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
About Fireweed Metals Corp. (TSXV: FWZ; OTCQX: FWEDF; FSE:M0G): Fireweed Metals Corp. is an exploration company unlocking significant value in a new critical metals district located in Yukon, Canada. Fireweed is 100% owner of the Macpass District, a large and highly prospective 977 km2 land package. The Macpass District includes the Macpass zinc-lead-silver project and the Mactung tungsten project, both characterized by meaningful size, grade and opportunity. At the Macpass project, Fireweed owns one of the largest undeveloped zinc resources worldwide*, in a region with enormous exploration potential. The Mactung project is a strategic critical metals asset that hosts the world’s largest high-grade tungsten resource*—a potential long-term supply of tungsten for North America. A Lundin Group company, Fireweed is strongly positioned to create meaningful value.
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQX: FWEDF) trades on the OTCQX Best Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com. In Europe, Fireweed (FSE: M0G) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed and its projects can be found on the Company’s website at FireweedMetals.com and at www.sedarplus.com
ON BEHALF OF FIREWEED METALS CORP.
“Peter Hemstead”
Interim CEO & Director
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.
Cautionary Statements
Forward Looking Statements
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical facts, included herein, including, without limitation, statements relating to interpretation of drill results, targets for exploration, potential extensions of mineralized zones, future work plans, the use of funds, and the potential of the Company’s projects, are forward looking statements. 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. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to, exploration and development risks, unanticipated reclamation expenses, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, uncertainties involved in the interpretation of drilling results and laboratory tests, and one-time events. The Company assumes no obligation to update forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.
Footnotes and References
*: References to relative size and grade of the Mactung resources and Macpass resources in comparison to other tungsten and zinc deposits elsewhere in the world, respectively, are based on review of the Standard & Poor’s Global Market Intelligence Capital IQ database.
*: For Tom and Jason Mineral Resources, see https://www.sedarplus.ca/ Fireweed Technical Report titled “NI 43-101 Technical Report on the Macmillan Pass Zinc-Lead-Silver Project, Watson Lake and Mayo Mining Districts Yukon Territory, Canada” filed on https://www.sedarplus.ca/ on February 23, 2018, and Fireweed News Release dated January 10, 2018. Leon McGarry, P.Geo., Senior Resource Geologist for CSA Global Canada Geosciences Ltd. is independent of Fireweed Metals Corp. and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. Mr. McGarry is responsible for the Macpass Mineral Resource Estimate.
*: For Tom and Jason PEA study, see https://www.sedarplus.ca/ Fireweed Technical Report titled “NI 43-101 Technical Report Macmillan Pass Project Yukon Territory Canada” filed on https://www.sedarplus.ca/ on July 9, 2018, and Fireweed News Release dated May 23, 2018. This Technical Report includes a Preliminary Economic Analysis (PEA) disclosing an economic analysis of mineral resources that is preliminary in nature and does not include any mineral reserves. It is equally emphasized that the mineral resources disclosed within this Technical Report are not mineral reserves and do not have demonstrated economic viability. Michael Makarenko, P.Eng., Project Manager for JDS Energy and Mining, Inc., is independent of Fireweed Metals Corp. and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. Mr. Makarenko is responsible for the PEA results.
*: For Mactung Mineral Resources, see Fireweed news release dated June 13, 2023 “Fireweed Metals Announces Mineral Resources for the Mactung Project: the Largest High-Grade Tungsten Deposit in the World” and the technical report entitled “NI 43-101 Technical Report, Mactung Project, Yukon Territory, Canada,” with effective date July 28, 2023 filed on https://www.sedarplus.ca/. Garth Kirkham, P.Geo. is independent of Fireweed Metals Corp., and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. Garth Kirkham, of Kirkham Geosystems Limited., is responsible for the Mactung Mineral Resource Estimate.
Contact: Peter Hemstead
Phone: +1 (604) 689-7842
Email: info@fireweedmetals.com
FIREWEED METALS CORP
Figure 2: Airborne Survey Areas Planned for 2024 at Macpass
FIREWEED METALS CORP
Figure 3: Ground Gravity Survey Areas Planned for 2024 at Macpass
FIREWEED METALS CORP
Figure 4: Soil Sampling and Prospecting Areas Planned for 2024 at Macpass
FIREWEED METALS CORP
Figure 5: Boundary Zone Long Section M–M’ showing grade and width of stratiform mineralization
FIREWEED METALS CORP
Figure 6: Tom West and South Long Section TG–TG’ showing drilling from 2023, 2018 resource, interpreted mineralization extents and proposed fold hinge of stratiform mineralization (into the page)
FIREWEED METALS CORP
Photo 1: High resolution core scanning image of stratiform and massive to semi-massive sulphide mineralization in TS23-009 (722.4 m to 734.3 m)
FIREWEED METALS CORP
Photo 2: High resolution core scanning image of stratiform and massive to semi-massive sulphide mineralization in NB23-036 (239.6 m to 249.2 m)
FIREWEED METALS CORP
Photo 3: High resolution core scanning image of stratiform and massive to semi-massive sulphide mineralization in NB23-028 (330.2 m to 340.1 m)
Photo accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/180f9033-ebff-4802-8519-efcff47a33d3https://www.globenewswire.com/NewsRoom/AttachmentNg/069813fb-c927-469f-a4b9-03078b165ef2https://www.globenewswire.com/NewsRoom/AttachmentNg/7e973aab-dd61-4682-abae-642d29ea37d9https://www.globenewswire.com/NewsRoom/AttachmentNg/6adccb45-4db4-4130-a932-3351cfb5fcbchttps://www.globenewswire.com/NewsRoom/AttachmentNg/39df590c-a390-45e9-a1e3-a945e31b1aadhttps://www.globenewswire.com/NewsRoom/AttachmentNg/58157ffa-8e89-45ff-aee1-2a0a9790f5abhttps://www.globenewswire.com/NewsRoom/AttachmentNg/bf8426ca-21b9-46b8-a8af-d6f33d172768https://www.globenewswire.com/NewsRoom/AttachmentNg/a83cff02-9c45-4f26-bf65-ec0bcb7f3e71https://www.globenewswire.com/NewsRoom/AttachmentNg/60aaf893-6520-4cb7-bd40-3846a25df777
CANTEX COMMENCES DRILLING ON ITS NORTH RACKLA COPPER-GOLD, GERMANIUM AND BASE METAL PROJECT IN THE YUKON AND ANNOUNCES $1.1 MILLION PRIVATE PLACEMENT
https://www.newswire.ca/news-releases/cantex-commences-drilling-on-its-north-rackla-copper-gold-germanium-and-base-metal-project-in-the-yukon-and-announces-1-1-million-private-placement-848605568.html
Cantex Mine Development Corp. Jun 03, 2024, 15:42 ET
/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES./
KELOWNA, BC, June 3, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") is pleased to announce that it has commenced drilling at its North Rackla project, Yukon. It has also arranged a one million one hundred thousand dollar non-brokered private placement.
North Rackla Drilling
Drilling has now commenced on the Copper Project on the western side of the Company's North Rackla property. Previous drilling on this project intersected 2.5 metres of 3.93% copper including 1 metre of 7.32% copper (see news release of April 13, 2023).
The Offering
Cantex is pleased to report that two strategic investors are committed to an investment of $1,100,000. Dr. Charles Fipke, the Company's largest shareholder and Chairman, is investing $1,000,000. Crescat Capital LLC, who commenced building a position in Cantex in late 2023 (see release dated September 20, 2023) is investing $100,000.
The Offering will be comprised of 9,166,666 common shares at a price of $0.12 per common share. The common shares will be subject to a 4 month hold period in accordance with applicable securities laws. Closing of the Offering remains subject to acceptance by the TSX Venture Exchange.
0974052 B.C. Ltd. ("BC Ltd"), a company over which Dr. Charles Fipke, the Chairman and a control person of the Company exercises control and direction over, will be subscribing for 8,333,333 Shares for a total subscription price of $1,000,000. BC Ltd acquired the Shares for investment purposes. The Offering and the acceptance of the subscription by BC Ltd was approved by unanimous resolution of the board of directors of the Company with Dr. Fipke declaring his interest in the resolution and abstaining from voting. There was no formal valuation of the Company done in connection with the Offering nor has there been such a formal valuation in the past 24 months. The Company relied upon the exemptions contained in Section 5.5(b) and 5.7(b), of Multilateral Instrument 61-101 ("MI 61-101") to avoid the formal valuation and shareholder approval requirements of MI 61-101. For the purposes of Section 5.5(b), the Company does not have any securities listed on any of the stock exchanges set out in Section 5.5(b) and for the purposes of Section 5.7(b) the exemption was available as the consideration paid for the Units subscribed for by BC Ltd was less than $2,500,000.
Proceeds from the Offering will be used, along with the proceeds of the $3 million dollar financing completed in January 2024, to fund the drill program on the Company's North Rackla project in the Yukon. As noted above, drilling has just started at the copper target and in two weeks drilling will commence on the Massive Sulphide project where high-grade germanium-silver-lead-zinc mineralization has been discovered. Gold targets are also being evaluated for the summer's drill program.
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
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.
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, 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) are not statements of historical fact and may be 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 press 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. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
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
Gladiator Highlights Large Scale Copper Magnetic Anomalies
https://www.newsfilecorp.com/release/211409
June 03, 2024 3:05 AM EDT | Source: Gladiator Metals Corp.
Highlights
Gladiator has recently received the processed results from a high-definition drone-borne aeromagnetic survey completed over the Whitehorse Copper Belt, the survey has successfully:
Identified potential extensions to known mineralization;
Highlighted significant un-drilled exploration targets associated with high-magnetic responses; and
Supports a strong correlation between occurrences of magnetite-copper skarn mineralization and reported magnetic anomalies.
The results of the survey supports Gladiator's belief that a survey of this detail and extent can be utilised effectively as a direct detection tool of mineralized bodies under cover.
An initial review of the survey has identified significant new target areas associated with high magnetic responses that has driven Gladiator to stake an additional 54 km2 of claims, bringing the total area of the Whitehorse Copper Project to 133 km2
In response to the acquisition of a significant quality data set and the new staking, Gladiator has advanced its summer field campaigns to immediately commence follow up on magnetic targets having already commenced geological mapping, rock chipping and soil sampling with ground-based geophysics (IP and EM) to commence shortly ahead of planned drilling.
Gladiator CEO, Jason Bontempo commented:
"With historical, economic discoveries of copper mineralization in the Whitehorse area largely driven by outcropping occurrences, this first-time survey of its size, coverage and latest technology was designed to explore prospective sections of geology for magnetite-copper skarns hidden under thin cover. Given the high magnetic response of previously identified bodies of magnetite-copper skarn mineralization, Gladiator is confident that this survey can act as a direct detection tool for further zones of high-grade copper mineralization.
Multiple, new, undrilled magnetic anomalies have been identified by the survey indicating the extensive new discovery potential of high-grade copper in the Whitehorse Copper Project area. Gladiator's field crews are now active, on the ground, following up on these identified anomalies and we look forward to updating the market on the developing target areas ahead of drilling later this year."
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2024) - Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), provides an update on exploration at the Whitehorse Copper Project with multiple, significant, undrilled, large scale magnetic anomalies identified from recently completed drone magnetic surveys along strike of historical mining operations at the Cowley Park and Cub Trend deposits (refer to Figure 1 below for location and recently completed drone magnetics). Newly identified key target areas include:
Figure 1: Plan map of the Southern Whitehorse Copper Belt showing recently returned Analytical Signal magnetics (data processing by Southern Geoscience Ltd. And collected by Pioneer Geophysics Pty.) and highlighting existing target areas and recently highlighted targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/211409_3cc6a41554bb49d2_002full.jpg
Historical exploration of the Whitehorse Copper Belt was largely driven by the discovery of outcropping zones of copper skarn mineralization with drilling stepping out from these initial discoveries to determine the size and potential of prospective areas.
This survey was designed to target areas of prospective geology under the thin glacial tills and glaciofluvial sediments that cover much of the Whitehorse Copper Belt. Most of the mineralization in the belt consists of magnetite-copper skarn mineralization that eludes a high magnetic response and, as such the drone magnetics have the potential to be a direct detection tool for concealed bodies of mineralization.
The drone magnetics also acts as a preliminary geological tool to help map out the contact between the Cretaceous Whitehorse Batholith and the Triassic Lewes Carbonate sediments. This contact is the primary vector for mineralization in the district with all bodies of mineralization discovered to date lying within 150m of this boundary. Therefore, the constraint of this prospective horizon under the thin cover sequences will help to open-up multiple, new areas for exploration in the coming months and to focus Gladiator's efforts on the more prospective targets.
The magnetic survey will also be processed to derive a three-dimensional inversion model to target prospective magnetite-skarn bodies below the surface and to aid in drill planning and targeting.
Summer field campaigns have now commenced and will follow up on all identified targets and magnetic anomalies with mapping, rock chipping and soils sampling to be shortly followed by ground based geophysical surveys (IP and EM). These surveys are designed to advance and prioritise target areas ahead of planned drilling campaigns in Q3 2024.
Work completed to date, including the review of the aeromagnetic data received to date, has identified more than 30, drill ready, high-grade regional targets associated with copper rich skarns at the contact between the Cretaceous age Whitehorse Plutonic Suite and the Triassic to Jurassic Lewes River Group's clastic and carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact which is highly prospective for high-grade copper+/-molybdenum+/-silver+/- gold.
QA / QC and Data Verification
The Company engaged industry specialist contractor Pioneer Exploration Consultants Ltd. to complete an ~6,050 line-km high-resolution drone airborne magnetic survey over its Whitehorse Copper Project. The survey was carried out with traverse lines oriented 030 degrees with a 25m line spacing within highly prospective geological settings and a regional 50 m line spacing in prospective geological settings to generate a high-resolution data set.
The data was subsequently provided to Western Australian based Southern Geoscience Limited for processing. Southern Geoscience, a long-standing geophysical consulting completed standard checks and minor repairs to the data set before processing the data. Southern Geoscience provided Gladiator with a significant suite of images, including but not limited to total magnetic intensity (TMI), reduced to pole (RTP), analytical signal (AS) and various vertical derivatives (VD). Southern Geosciences will be undertaking further processing of the data including three-dimensional inversions of select areas.
This survey has successfully provided better definition of the magnetic anomalies that appear to be related to magnetite-copper skarn mineralization. The Company will be reviewing the magnetic survey data over the coming months to aid the current field programs and planned drilling.
The Whitehorse Copper Project
The Whitehorse Copper Project is an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The project comprises 133km2 of prospective geology in the Whitehorse Mining District.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it became to be known. The Whitehorse Copper Belt comprised over 40 prospect areas, primarily copper skarn occurrences, within a 25km radius of historical mining operations. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized material milled (Watson, 1984).
The Project is accessible through numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.
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.
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)
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.
Rackla Metals Commences 2024 Exploration Program on Yukon and NWT Projects
“Hit and Peak discoveries are the priority drill targets in 2024”
https://thenewswire.com/press-releases/1AJ6F2QNw-rackla-metals-commences-2024-exploration-program-on-yukon-and-nwt-projects.html
Vancouver, British Columbia – TheNewswire - June 3, 2024 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to announce that field crews will be mobilizing to the Company’s Yukon and NWT projects, including the Company’s flagship Astro Plutonic Complex (APC), on June 6. The APC is located at the Yukon-NWT border and the project is road accessible, 240 km north of Ross River along the North Canol road.
The crews are looking forward to an exciting and promising season of exploration and discovery on its Tombstone Gold Belt properties. The 2024 exploration plans include:
Hit Target
The Hit target is hosted within a prominent corridor of intense sheeted quartz-sulphide veins within the 2.5 sq km Canol Trail Stock. In 2023, drill hole HIT-003 intersected 0.248 g/t Au over 129.8 m including 0.668 g/t gold over 16.5 m and 0.607 g/t gold over 13.5 m. Hole HIT-004 drilled from the same drill pad in the opposite direction intersected 0.516 g/t gold over 45.5 m. Both holes encountered sheeted quartz-sulphide veins throughout the full length of the holes and the gold intercepts had a strong gold-bismuth-tellurium-arsenic correlation, typical of a Reduced Intrusion mineralizing system.
Rackla plans to expand on the geological mapping, prospecting and soil sampling program from 2023 to further define and expand on this target. The Company will also conduct 3,000 m diamond drilling to vector in on the core of the Reduced Intrusion-Related Gold System (RIRGS).
Figure 1 – Hit Target proposed 2024 drill plan.
Click Image To View Full Size
Peak Target
The Peak target is hosted in the Kelvin Stock 11 km south of the Hit target. At Peak, on the eastern flank of the intrusion a soil anomaly measuring 1.5 km by 1.0 km has been defined. It is a robust anomaly with coincident gold, arsenic and bismuth, typical of a RIRGS target. Prospecting and rock sampling at Peak returned a high percentage of samples containing greater than 1.0 g/t gold. Twenty percent, or 49 out of 237 rock samples collected on the property have returned >1.0 g/t gold with the highest value being 17.8 g/t gold. The gold occurs primarily in sheeted quartz-arsenopyrite-bismuth veins that occur in the sedimentary rocks along the eastern margin of the Kelvin Stock. The veins trend north-northeasterly and individual veins can be traced for hundreds of meters. The vein system has been traced for 1 km along strike and 1.5 km across strike.
In 2024, Rackla will undertake a maiden drill program at Peak with a first phase consisting of 1,000 m in 6 to 7 holes. The geophysical signature at Peak indicates that the intrusive contact dips shallowly eastward, under the sediments. Rackla will be testing this with the drill holes and is hopeful that the underlying intrusion hosts gold-bearing sheet quartz veins that are feeding the veins observed in the sediments on surface. The Company will also be expanding on the mapping, prospecting and soil sampling coverage in 2024.
Figure 2 – Peak and Cirque targets surface sampling gold results.
Click Image To View Full Size
Figure 3 – 3-D model of Kelvin Stock, which includes the Peak and Cirque targets.
Click Image To View Full Size
Simon Ridgway, CEO commented: “Our team is excited to be getting back into the field following the RIRGS discoveries at HiT and Peak in 2023. The priority for the 2024 exploration program is a significant drill program on HIT, to vector towards the heart of the RIRGS target, and a maiden drill program on Peak to test the high-grade gold bearing sheeted veins identified last season. The Company will also be advancing several of its other 100% owned earlier stage projects in the belt.”
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.
Yukon Metals Completes Acquisition of Yukon Properties
https://www.newsfilecorp.com/release/211205
May 30, 2024 7:12 PM EDT | Source: Yukon Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Yukon Metals Corp. (CSE: JKS) (the "Company" or "Yukon Metals") (formerly JKS Resources Inc.) is pleased to announce that it has completed the acquisition (the "Transaction") of the AZ, Barite Mountain, Birch, Carter Gulch, Clea, Eva, Expo, Faro North, Fox, Gem, Ketza, Nut, Pete, Risby and Talbot claims and the Venus claims and crown grants located in the Yukon (the "Properties") for a total land package of approximately 18,000 hectares. The Properties are a suite of base and precious metals focused projects in the Yukon ranging from promising new discoveries to drill ready targets.
Pursuant to the Transaction, the Company acquired all of the issued and outstanding shares of Lapie Mining Inc. ("Lapie") from 18526 Yukon Inc. (the "18526") for consideration of (1) $2,000,000 in cash, and (2) 25,000,000 common shares (the "Consideration Shares") in the capital of the Company (the "Common Shares"). The Consideration Shares are subject to the escrow policies of the Canadian Securities Exchange (the "CSE") and will be released incrementally over a 36-month period from the date of listing on the CSE. 18526 has retained a royalty equal to 2.5% of the net smelter returns in respect of each of the Properties, subject to a right of repurchase of 0.5% of each royalty at a cost of $1,000,000 per royalty, payable in gold or cash.
The Transaction constitutes a "fundamental change" pursuant to Policy 8 - Fundamental Changes and Changes of Business of the CSE. Concurrently with the closing of the Transaction (the "Closing"), the Company changed its name to Yukon Metals Corp. Trading of the Common Shares will resume under the new name and under the new ticker symbol "YMC" as of market open on June 3, 2024. The new CUSIP is 98849N108 and the new ISIN is CA98849N1087.
For further information regarding the Transaction and the Properties, readers are encouraged to review the CSE Form 2A - Listing Statement prepared by the Company in support of the Transaction, as well as the current technical report on the Expo property, copies of which are available under the Company's profile on SEDAR+ (www.sedarplus.ca).
Board of Directors and Management
Concurrently with Closing, the board of directors of the Company was reconstituted to consist of Rory Quinn, Patrick Burke, Dr. Darryl Clark, Jim Coates and Daniel Vickerman, with Mr. Burke as Chair. Rory Quinn has been appointed President and Chief Executive Officer of the Company and Denitsa Doncheva has been appointed Chief Financial Officer and Corporate Secretary of the Company.
Private Placement
Prior to completion of the Transaction, the Company completed a non-brokered private placement of (a) 24,032,417 subscription receipts (exercisable into Common Shares upon completion of the Transaction) (the "Share Subscription Receipts") at a price of $0.30 per share for gross proceeds of $7,209,725.10 and (b) 17,754,738 subscription receipts (exercisable into units upon completion of the Transaction) (the "Unit Subscription Receipts" and, collectively with the Share Subscription Receipts, the "Subscription Receipts") at a price of $0.45 per unit for gross proceeds of $7,989,632.10, for aggregate gross proceeds of $15,199,357.20 (the "Escrowed Proceeds") which were placed into escrow pending completion of the Transaction.
Immediately prior to Closing, each Share Subscription Receipt was automatically converted into one Common Share and each Unit Subscription Receipt was automatically converted into one unit (a "Unit") and the Escrowed Proceeds were released from escrow. Each Unit consists of one Common Share and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share (a "Warrant Share") at a price of $0.60 until May 3, 2027. The Common Shares and the Warrants are subject to a statutory hold period of four months and one day under Canadian securities laws, expiring on September 4, 2024.
Finder's fees in the amount of $206,028.36 have been paid by the Company in connection with the private placement to certain arm's length parties.
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 to be issued in connection with the Transaction, the Subscription Receipts, the Common Shares, the Warrants and the Warrant Shares 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 (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Grant of Stock Options
Concurrently with Closing, the Company granted an aggregate of 4,700,000 stock options to certain directors, officers and consultants of the Company. Each of the stock options will be exercisable into one Common Share at a price of $0.45 until May 30, 2029.
Early Warning Disclosure
In connection with the Transaction, 18526 has acquired ownership and control of the Consideration Shares, representing approximately 28% of the issued and outstanding Common Shares. Prior to Closing, 18526 did not hold any securities of the Company.
18526 has acquired the Consideration Shares in partial consideration for the Transaction and for investment purposes. 18526 may, from time to time, acquire or dispose of additional securities of the Company in the market, privately or otherwise. A copy of the early warning report filed by 18526 in connection with the Transaction can be obtained by contacting the Company and will be available under the Company's profile on SEDAR+ (www.sedarplus.ca).
About Yukon Metals Corp.
Yukon Metals represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold's (SGD) portfolio of assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company will be led by an experienced Board of Directors across technical, exploration and finance disciplines.
For more information about Yukon Metals, please contact:
Rory Quinn, President & CEO
Yukon Metals Corp.
Email: info@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. 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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
SOURCE: Yukon Metals Corp.
Cascadia Provides Drilling Update for its Catch Copper-Gold Porphyry Project, Yukon
https://www.newswire.ca/news-releases/cascadia-provides-drilling-update-for-its-catch-copper-gold-porphyry-project-yukon-814596417.html
Cascadia Minerals Ltd. May 30, 2024, 07:00 ET
VANCOUVER, BC, May 30, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to provide an update on the ongoing diamond drill program at its Catch Property. The Catch Property hosts one of North America's newest copper-gold porphyry discoveries, with extensive mineralization at surface. The property is located in central Yukon, only 10 km from a paved all-season highway and powerline, within an extension of the Stikine terrane – a key geological setting which extends from the Golden Triangle in British Columbia to Yukon. The Catch Property has never been historically explored, with Cascadia conducting the first-ever diamond drill program in fall 2023, which resulted in the discovery of the Spark Zone.
Hole CA-24-006 Section (CNW Group/Cascadia Minerals Ltd.)
Spark Zone Diamond Drilling Highlights:
The first 2024 diamond drill hole (CA-24-006) stepped out 315 m from 2023 discovery hole CA-23-002 and intersected 140 m of pyrite-chalcopyrite mineralization (Figure 1);
Mineralization in CA-24-006 contains greater sulphide abundance (pyrite-chalcopyrite) than observed in hole CA-23-002, which returned 116.60 m of 0.31% copper with 0.30 g/t gold;
CA-24-006 intersected zones of potassic alteration associated with disseminated (Figure 2) and vein hosted chalcopyrite-pyrite (Figure 3);
Hole CA-24-006 targeted a coincident Induced Polarization ("IP") chargeability and resistivity high within a larger and open-ended 1.4 km long IP chargeability anomaly (Figure 4);
The second 2024 drill hole (CA-24-007) is now underway, testing a similar IP chargeability and resistivity high 150 m north of CA-23-002 (Figure 5); and,
Planning is underway to extend the 2024 drill program to step out on CA-24-006.
"We are very excited to have hit additional mineralization on such a large step-out from last year's discovery at the Spark Zone. The amount of observed sulphide minerals, coupled with the favourable alteration we are now seeing, clearly demonstrates that this is a large mineral system with significant copper-gold potential. Mineralization at Catch is suggestive of an Alkalic Porphyry, similar in nature to the Red Chris mine in Northern BC and the Cadia-Ridgeway system in Western Australia," said Graham Downs, Cascadia's President and CEO. "Our crews are working to quickly process this core and get assays underway as soon as possible, with several batches of core already at the lab. In the meantime, drilling continues at the Spark Zone, where extensive geophysical anomalies remain open in all directions. It is critical to remember that this is only the third drill hole ever completed at this kilometer-scale target, with both holes last year returning significant mineralization. We see great potential at Catch and are evaluating options to extend the drilling program to complete additional step-out holes."
Figure 1 – Spark Zone Drill Map
Figure 2 – Disseminated Mineralization Core Photos
Figure 3 – Vein-Hosted Mineralization Core Photos
Figure 4 – Spark Zone IP Section B-B'
Figure 5 – Spark Zone IP Section A-A'
Cascadia cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Laboratory assays are required to determine the presence and grade of any contained mineralization within the reported visual intersections of copper sulphides. The company will update the market as soon as laboratory analytical results become available.
2024 Diamond Drilling
Diamond drilling is underway at the Spark Zone where 2023 diamond drill hole CA-23-002 intersected 116.60 m of 0.31% copper with 0.30 g/t gold. The first 2024 diamond drill hole, CA-24-006, ended at 570 m and the second drill hole (CA-24-007) is underway. The Spark Zone is defined by a 700 x 700 m magnetic low coincident with a 1,400 x 600 m IP chargeability high and rock samples returning up to 3.88% copper with 30.0 g/t gold at surface within a large copper in soil anomaly.
CA-24-006 was collared 315 m southeast of hole CA-23-002 (figure 1), targeting a stronger and broader portion of the IP chargeability anomaly (figure 4), coincident with a zone of high resistivity. The hole encountered a variety of host rock types including quartz-feldspar porphyry, diorite, diorite porphyry, basalt and gabbro. The top 290 m of the hole displayed broad propylitic alteration (chlorite-epidote-pyrite ± hematite) of dominantly basalt and diorite with a clear increase in intensity with depth. A 140 m zone of sericitic (quartz-sericite-pyrite) to potassic alteration (biotite) with disseminated to vein hosted pyrite-chalcopyrite mineralization was encountered from 290 to 430 m in all host rock types. Strong propylitic alteration was observed again from 430 to 550 m dominantly within gabbro before encountering a large fault towards end of hole.
There is a pervasive late-stage chlorite overprint on the mineralization making identification of primary alteration difficult. In addition, structural deformation deforms the mineralization; likely from the nearby 1,000+ km long Teslin-Thibert fault. Further petrographic studies will be undertaken in the coming months to validate initial geology and alteration logs.
Hole CA-24-007 is collared off the same drill pad as CA-23-002 and will fan eastward and step out 150 m on the known copper-gold mineralization at depth. This hole will test the projected extension of mineralization from hole CA-23-002 towards an area of high IP chargeability and stronger resistivity (figure 5), which may represent potassic alteration.
For additional CA-24-006 core photos and information on the Catch property, please visit Cascadia's website at https://cascadiaminerals.com/projects/catch-yt/
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 30.00 g/t gold.
In addition to Catch, Cascadia is conducting exploration work at its 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 and the PIL Property in British Columbia, all of which have additional copper porphyry targets. Cascadia has approximately 45 million shares outstanding and its largest shareholders are Hecla Mining Company and Barrick Gold.
QA/QC
Analytical work for 2023 samples was completed by ALS Canada Ltd, with sample preparation in Whitehorse, Yukon and geochemical analyses in North Vancouver, BC. Rock and core samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold was determined for rock samples by the PGM-ICP24 procedure which involves fire assay preparation using a 50-gram charge with an inductively coupled plasma-atomic emission spectroscopy finish ("ICP-AES"). Soil samples were dry-screened at 180 micron, with analysis conducted on the fine fraction. Gold was determined for soil and silt samples by the Au-ICP21 method, which involves fire assay preparation with a 30-gram charge followed by an ICP-AES finish. Multi-element data for 48 elements was determined for all samples by the ME-MS61 procedure, which involves a four-acid digestion followed by ICP-AES and inductively coupled plasma-mass spectrometry. Overlimit values for copper were determined by the ME-OG62 procedure, which involves a four-acid digestion followed by ICP-AES analysis.
Results referenced in this release represent highlight results only. Below detection values for copper and gold have been encountered in core, silt, rock and soil 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.
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: Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106, acarne@cascadiaminerals.com
CMC Metals Plans to Initiate Studies to Examine the Viability of Utilizing Dense Media Separation or Ore Sorting Technologies for the Silver Hart Project, Yukon
https://ca.finance.yahoo.com/news/cmc-metals-ltd-plans-initiate-120000286.html
CMC Metals Ltd.
Thu, May 30, 2024 at 5:00 a.m. PDT·4 min read
CMCXF
+36.64%
VANCOUVER, BC / ACCESSWIRE / May 30, 2024 / CMC Metals Ltd. (TSXV:CMB)(FRA:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce that the Company hopes to soon initiate studies to examine the viability of utilizing dense media separation or ore sorting technologies at the Silver Hart Project.
Dense Media Separation ("DMS") has emerged as a powerful mineral processing technique as it enables the separation of minerals based on their specific gravity, offering a highly efficient method to pre-concentrate valuable minerals while discarding unwanted gangue materials. This separation process occurs through the use of heavy liquids with specific densities, setting the stage for a wide range of applications across various mining sectors. As mining companies adopt DMS and similar technologies, they contribute to a more sustainable and responsible mining industry.
Ore sorting has been proven to provide both economic and environmental benefits to mining projects, while increasing the overall efficiency and productivity of the mineral processing system.
Mr. John Bossio, Chairman of the Company noted "Our Company remains committed to examining all options to establish operations at the Silver Hart Project. We also look forward to initiating discussions with First Nations regarding this project concept to examine partnership opportunities."
Mr. Kevin Brewer, P.Geo. and President and CEO of the Company noted that "We are in the process of identifying experts to undertake studies on the viability of using DMS and ore sorting technologies."
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 Silverknife and Amy projects (British Columbia) and the Silver Hart Deposit and Blue Heaven claims (Yukon). Our other polymetallic projects include Bridal Veil (Newfoundland) and Logjam (Yukon).
On behalf of the Board:
"John Bossio"
John Bossio, Chairman
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."
SOURCE: CMC Metals Ltd.
View the original press release on accesswire.com
Transition Metals Validates Copper Porphyry Potential at Pike Warden Project, Yukon
https://www.newsfilecorp.com/release/210850
May 29, 2024 7:30 AM EDT | Source: Transition Metals Corp.
Rock sample trace element geochemistry highlights robust epithermal and porphyry style alteration signatures.
Petrographic evidence supports timing relationships of a late epithermal alteration assemblage overprinting an earlier (hotter) copper-molybdenum enriched porphyry style alteration.
Petrography confirms high temperature potassic alteration associated with higher grade copper mineralization.
Sudbury, Ontario--(Newsfile Corp. - May 29, 2024) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company") is pleased to announce updates regarding ongoing geological studies, as well as provide an update on upcoming exploration plans for the Pike Warden project ("the Property"), Yukon. Petrographic and geochemical studies have further highlighted the prospectivity for porphyry style copper-molybdenum mineralization on the Property. The Pike Warden Project (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.
Greg Collins, P.Geo., COO of Transition Metals, commented, "Our work further highlights the prospectivity of this unique part of the Cordillera. It is exciting that the petrographic and geochemical evidence has confirmed porphyry style signatures coincident with the grades of copper we are seeing. Elsewhere in the Cordillera, such signatures can be associated with large and economic copper systems. We look forward to continuing our exploration efforts this summer, once the field season in the Yukon gets underway in July."
Figure 1. - Location of the Pike Warden Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/210850_cb15cfda048718a5_002full.jpg
Discussion of Results
Petrographic analysis on a select batch of 26 rock samples is being carried out by Fabrizio Colombo, Ph.D., P.Geo., of Ultra Petrography and Geoscience Inc. ("UPG"), to characterize host lithologies, alteration assemblages, and mineralization which could be proximal to porphyry centers. Preliminary observations from this study highlight that the samples can be categorized into three subsects:
1) Samples which display alteration and veining characteristics of precious metal enriched epithermal alteration and mineralization,
2) Samples which exhibit chlorite-epidote-albite assemblage (propylitic alteration), and
3) Samples which exhibit strong alteration comprising albite-chlorite-biotite-epidote-quartz-chalcopyrite assemblage, representing a much higher temperature of alteration.
Notably, one of these samples collected in 2023 from the Copper North showing, returned a value of 2.3% Cu (see Company news release dated September 11, 2023). The significance of alteration observed in this sample was qualified by UPG as important, stating that the sample provides "a good indication of the occurrence of high temperature porphyry-type alteration assemblages associated with Cu and Cu-Mo mineralization at surface".
Three trace element indices have been reviewed and applied to further highlight and characterize mineralizing systems:
1) A thermal index1, used as a vector for heat flow and heat-flux footprints in epithermal-porphyry systems,
2) The Mineral Deposit Research Unit's (MDRU) porphyry indices2 (MPIx, MPIx-Lateral) are used to map the mineralization footprints both vertically and laterally, and
3) The Na-Ca depletion index3, which helps map the intensity of muscovite and advanced argillic alteration.
These indices provide tools to compare prospects in a district, assess size, and qualify level of burial, which assists to define and prioritize drill targets. Supported by petrographic evidence, the trace element geochemical indices highlight the potential for multiple mineralized centers.
Some samples collected from high thermal index areas have been observed petrographically as being overprinted by lower temperature phyllic and argillic alteration assemblages. This relationship highlights a spatial overlap in places between an early high temperature porphyry alteration assemblage overprinted by lower temperature epithermal alteration and mineralization. Samples exhibiting higher MPIx values, and Na-Ca depletion index values, imply proximity to a Cu-Mo ± (Au/Ag) porphyry system. The data highlights multiple sites exhibiting high MPIx values clustered near intersections between strong concentric and radial structures related to the Bennett Lake caldera (Figure 2).
¹ Halley, S., Dilles, J.H., and Tosdal, R.M., 2015, Footprints: Hydrothermal alteration and geochemical dispersion around porphyry copper deposits: SEG Newsletter, no. 100, p. 1, 12-17.
² Bouzari, F., Bissig, T., Hart, C.J.R., and Leal-Meija, H., 2019, An exploration framework for porphyry to epithermal transitions in the Toodoggone mineral district (94E): Geoscience BC Report 2019-18, 105 p.
3 Bouzari, F., Lee, R.G., Hart, C.J.R. and van Straaten, B.I. (2021): Mineralogical and geochemical vectors within advanced argillic-altered rocks of north-central British Columbia (NTS 094E/02, 15, 104I/05); in Geoscience BC Summary of Activities 2020: Minerals, Geoscience BC, Report 2021-01, p. 91-104.
Figure 2: Pike Warden project preliminary alteration mapping with prominent structural trends, discovered polymetallic showings, highlighting samples displaying elevated MPIx porphyry index values.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/210850_cb15cfda048718a5_003full.jpg
Yukon Mineral Exploration Program
The Company is pleased to inform that the Pike Warden project has been approved to receive up to $50,000 in grant funding under the Yukon Mineral Exploration Program (YMEP) for 2024-2025. The Company would like to acknowledge the support of the Yukon government and all its stakeholders. This program supports placer and hard rock exploration projects by reimbursing a percentage of approved exploration expenditures, with the intent to support early-stage projects and stimulate new mineral discoveries. It is important to note that the opinions and views expressed in this announcement are those of Transition Metals Corp., and do not necessarily reflect those of the Government of Yukon.
Next Steps
The Company has contracted Geotech Ltd. of Aurora, Ontario, to complete a helicopter-borne Z-Axis Tipper Electromagnetic (ZTEM) geophysical survey over the property. ZTEM systems are capable of deeply penetrating electromagnetic signatures (>1-2km) that permits the mapping of geologic units, structure and alteration based on lateral resistivity contrasts. Audio-frequency magnetic (AFMAG) data from this survey will be used to create a 3-D subsurface resistivity inversion model to help determine prospective targets for porphyry centers on the Property.
Further, the Company is also planning a robust field program, starting in July, to continue its sampling, bedrock mapping, and alteration mapping efforts on the property. These efforts will further aid in defining mineralization and further characterize prospective sites for drill targeting on the Property.
About the Pike Warden Property
The Pike Warden 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.
Granite Creek Copper Announces 2024 Exploration Program at Carmacks Project in Yukon, Canada
https://www.accesswire.com/867984/granite-creek-copper-announces-2024-exploration-program-at-carmacks-project-in-yukon-canada
Tuesday, 28 May 2024 07:45 AM
VANCOUVER, BC / ACCESSWIRE / May 28, 2024 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") is pleased to announce exploration plans for the Company's wholly owned Carmacks copper-gold project located in central Yukon, Canada, within the traditional territory of the Little Salmon/Carmacks First Nation. The 2024 field program is expected to include up to 1800 meters of diamond drilling focused on new targets within 1 kilometre of the proposed pits identified by the 2021 Preliminary Economic Assessment ("PEA"). The Gap, Sour Toe and Zone 1213 targets (see Figure 1) were refined by Induced Polarity ("IP") surveys, trenching and soil sampling.
Figure 1 - Target Location
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 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.
Gap Target
The Gap target lies between the 2000 and 147 zones and may represent a fault offset of either or both zones. The target area has only seen shallow drilling by previous operators and has no pierce points in the modeled geophysical volume. The target is characterised by an IP anomaly that is modeled using a Resistivity Scaled Chargeability ("RSC") technique where the ratio of resistivity to chargeability from IP readings over known mineralisation is adjusted until an RSC ratio that matches the known mineralisation is achieved. Once an RSC ratio is determined, the same ratio is applied to IP readings over new targets to identify areas with a similar signature. In this case, a survey over the well-defined 147 Zone established the RSC ratio over mineralisation, with the Gap Target exhibiting a response that is almost twice as strong as that of the 147 Zone.
Figure 2 - Gap Target IP Section
Note. Images cropped to highlight the similarities between known mineralisation at 147 Zone and Gap Zone Target
Sour Toe Target
The Sour Toe target is a new discovery located approximately 800 meters from the 147 zone. The target was discovered through an IP survey with potential confirmed through trenching and soil sampling. The target is seen across two IP lines giving the target a strike length greater than 200 meters.
Figure 3 - Sour Toe Target IP Section
Tim Johnson, President & CEO, stated, "We are very pleased to be launching this next phase of exploration and development of our Carmacks copper-gold-silver project. Recent positive price action in the metals, specifically copper and gold has brought new interest to the sector. This paired with the exploration upside at Carmacks creates the phenomenal opportunity to increase shareholder value."
Warrant Extension
Granite Creek further announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that are due to expire June 5 and June 11, 2024 (the "Warrants"). The Warrants, originally issued as part of a financing completed in June 2020 (see news release dated June 11, 2020), will, upon approval, have expiry dates of June 5 and June 11, 2025, respectively. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.075. The Warrants are subject to an accelerator whereby if the common shares close at $0.15 or higher for 10 consecutive trading days, the Company may accelerate expiry of some or all of the warrants to the 30th day after notice to warrant holders.
Option Grant
Granite Creek also wishes to announce that, subject to TSX Venture Exchange approval, it has granted 1,290,000 incentive stock options to directors, officers, employees, and consultants of the Company, under its long-term incentive plan. The options are exercisable for up to five years, expiring on May 28, 2029, and each option will allow the holder to purchase one common share of the company at a price of $0.075 per share.
About Granite Creek Copper
Granite Creek Copper, a member of the Metallic Group of Companies, is focused on the exploration and development of critical minerals projects in North America. The Company's projects consist of its Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly producing 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
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
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
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, 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.
Gladiator Extends Cowley Park Geological Model to Include Additional High-Grade Copper Mineralization
https://www.newsfilecorp.com/release/210732
May 28, 2024 3:05 AM EDT | Source: Gladiator Metals Corp.
Sitka Gold Drills 154.0 Metres of 1.47 g/t Gold Including 37.0 Metres of 3.07 g/t Gold and 8.0 Metres of 4.61 g/t Gold at its RC Gold Project, Yukon
https://www.accesswire.com/866693/sitka-gold-drills-1540-metres-of-147-gt-gold-including-370-metres-of-307-gt-gold-and-80-metres-of-461-gt-gold-at-its-rc-gold-project-yukon
Thursday, 23 May 2024 09:05 AM
DDRCCC-24-058 ("Hole 58") returned 154.0 m averaging 1.47 g/t gold, including 37.0 m of 3.07 g/t gold and 8.0 m of 4.61 g/t gold, confirming robust continuity of the higher-grade gold mineralization discovered south of the current Blackjack gold deposit
3D structural interpretation from winter drill hole results establishes new Blackjack Mineralized Gold Corridor demonstrating the potential of continued higher-grade gold mineralization to the south of the Blackjack gold deposit
Abundant sheeted quartz veins, quartz-arsenopyrite veins, and arsenopyrite veins were observed throughout the quartz monzonite intrusions intersected by Hole 58 with several instances of visible gold also noted
VANCOUVER, BC / ACCESSWIRE / May 23, 2024 / Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG)(FSE:1RF)(OTCQB:SITKF)
Snowline Gold Mobilizes Field Crews for Fully Funded 25,000 Metre Drill Program, Company’s Largest Exploration Campaign to Date
https://www.accesswire.com/864041/snowline-gold-mobilizes-field-crews-for-fully-funded-25000-metre-drill-program-companys-largest-exploration-campaign-to-date
Thursday, 16 May 2024 06:00 AM
Five drill, 25,000+ metre drill program launched, with 15,000+ metres dedicated to expanding and defining the Rogue Project's flagship Valley target
Upwards of 10,000 metres allocated for first pass and follow up drilling on at least five additional targets across the Rogue and Einarson projects
A second 50-person camp will be built near Rogue Project's Valley target to increase the capacity to support expanding drill campaign and regional surface exploration
VANCOUVER, BC / ACCESSWIRE / May 16, 2024 / SNOWLINE GOLD CORP. (TSX-V:SGD)(OTCQB:SNWGF)
Strategic Metals Regains 100% Interest in the Hopper Copper-Gold Project and Converts NAD Property to NSR Royalty
https://www.accesswire.com/863972/strategic-metals-regains-100-interest-in-the-hopper-copper-gold-project-and-converts-nad-property-to-nsr-royalty
Thursday, 16 May 2024 08:00 AM
Significant porphyry copper mineralization over a 2.3 km by 650 m area is largely untested by drilling; gold-enriched skarn mineralization remains open along strike and down-dip in multiple horizons
2022 drill results of 1.87% copper and 1.04 g/t gold over 15.27 m from the Copper Castle skarn target and 0.22% copper over 114.38 m from the Hopkins North porphyry target
Road-accessible and permitted for a large drill program; the Hopper Project lies 22 km north of the Otter Falls hydroelectric generator and only 320 km from the deep sea port of Haines, Alaska
VANCOUVER, BC / ACCESSWIRE / May 16, 2024 / Strategic Metals Ltd. (TSXV:SMD)
Cascadia Commences Drilling at the Catch Copper-Gold Porphyry Project, Yukon
https://www.newswire.ca/news-releases/cascadia-commences-drilling-at-the-catch-copper-gold-porphyry-project-yukon-846631315.html
Cascadia Minerals Ltd. May 16, 2024, 08:00 ET
VANCOUVER, BC, May 16, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF)
Onyx Gold Announces Acquisition of Strategic WEAS Property in the Yukon
https://www.newsfilecorp.com/release/208544
May 09, 2024 8:23 AM EDT | Source: Onyx Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx Gold" or the "Company") is pleased to announce that it has entered into an option agreement (the "Agreement") with Senoa Gold Corp. (the "Optionor") and a wholly-owned subsidiary of the Company (the "Optionee") to acquire the WEAS property (the "Property"), which consists of claims that are contiguous to the Company's King Tut property, in Yukon's Tombstone Gold Belt.
Highlights of the Property and the Agreement:
The 627-hectare ("ha") land package comprising the Property is located within the King Tut Property (Figure 1). This strategic acquisition consolidates the King Tut Property and provides the Company full control of the two mineralized intrusions on the King Tut Property, the WEAS intrusion and the Golden Mask intrusion located 9 km to the west (Figure 2).
The Property covers a prospective reduced intrusion-related gold target. Historical work completed by previous operators reported multigenerational gold-bearing sheeted quartz veins within an exposed, 3 km by 2 km granitic intrusion (Plate 1) (See Yukon Occurrence Number 105O 056). Drilling in 1996 (five holes totaling 1,280 m) intersected 1.0 grams per tonne ("g/t") gold ("Au") over 21 meters ("m") (true width unknown) associated with the sheeted quartz veins, along with surface grab samples of up to 20.1 g/t Au (Figures 2 and 3).
There has been limited work done on the Property and no significant exploration since the mid-1990s. The Company is planning an early summer work program consisting of field mapping, prospecting, and channel sampling to prioritize potential drill targets within areas of exposed gold-bearing sheeted quartz veins. This program will inform a potential drilling program later in the summer.
Under the terms of the Agreement, the Company can acquire 100% of the WEAS Property by providing the Optionor a total of 3,000,000 common shares of Onyx, consisting of 500,000 shares on closing, 500,000 shares on the first anniversary, 500,000 shares on the second anniversary, and 1,500,000 shares on the third anniversary.
"This agreement underscores our commitment to consolidating our position and unlocking the full potential of our assets in this emerging new mining camp," said Brock Colterjohn, President & CEO. "The Property presents a compelling opportunity with historical data indicating significant gold potential associated with exposed, multigenerational sheeted quartz veins within a granitic intrusion. Our upcoming field program aims to further delineate targets for exploration, marking an exciting step towards our goal of unlocking a new gold discovery in the prolific Tombstone Gold Belt."
To hear more on this news from Brock Colterjohn, please see the video here: https://youtu.be/hZvI-RNTShc
Details of the Property:
The 30-claim (627 ha) Property lies internal to the Onyx's King Tut Property and covers an intrusion target situated between the Golden Mask and Main Tut targets (Figure 2). Historical work completed by previous operators reported multigenerational gold-bearing sheeted quartz veins within an exposed, 3 km by 2 km intrusion (Plate 1) (See Yukon Occurrence Number 105O 056 and Yukon Geological Survey's 1996 Yukon Exploration and Geology (YEG) annual report.). Drilling in 1996 (five holes totaling 1,280 m) at the Ann Mark Zone (Figure 3) intersected 1.0 g/t Au over 21 m (true width unknown) associated with the sheeted veins with quartz-arsenopyrite-bismuthinite, along with surface samples of up to 20.1 g/t Au and chip channel samples of quartz veins in sericite-altered diorite reported 15.3 g/t Au over 3.0 meters.
The Company cautions that none of the historical results from the Property, including drill results, have been verified. Assay methods and sampling techniques are not disclosed in the historical reports, and in the case of drilling on the WEAS target, the Company has only been able to locate indirect references to the results, but no primary source. Historical results discussed herein are presented more generally as an indication of the potential of the Property to host reduced intrusion-related gold systems.
Details of the Transaction:
The Company, through the Optionee, has the option to acquire 100% of the Property from the Optionor (the "Option") by issuing 3,000,000 Shares as follows:
500,000 shares upon the Effective Date (as defined below);
500,000 shares on the 1st anniversary of the Effective Date;
500,000 shares on the 2nd anniversary of the Effective Date; and
1,500,000 shares on the 3rd anniversary of the Effective Date.
Under the terms of the Agreement, upon the exercise of the Option, the Optionee will enter into an agreement granting a 1% NSR royalty on the Property to the Optionor.
The Property is subject to an underlying obligation to a third party consisting of a 1.0% NSR and bonus payment of $1,000,000 (the "Bonus Payment"), payable by the Optionee if a measured or indicated mineral resource of greater than 1 million ounces of gold is disclosed in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects on the Property.
The Agreement is subject to the approval of the TSX Venture Exchange (the "TSXV"). The Agreement will be effective three business days following approval of the TSXV (the "Effective Date").
2023 Program Summary and 2024 Planning
The 2023 Yukon exploration program by the Company focused on Phase 1 drill testing of the promising Main Tut and Golden Mask gold-in-soil anomalies, which are associated with two separate intrusion-related gold systems, and the execution of property-wide geophysical surveys, geochemical surveys, and mapping and prospecting programs to refine drill targets and identify prospective area for future exploration.
Results from the inaugural nine-hole 2,123-meter drill program confirmed widespread gold mineralization across the Main Tut and Golden Mask anomalies, including 0.30 g/t Au over 32.50 m in drill hole KT23-005, validating the existence of potential bulk-tonnage reduced intrusion-related gold systems ("RIRGS") on the Property (See Company New Release dated November 15, 2023). In addition, new airborne magnetic surveying and soil sampling have also significantly expanded the size of the mapped intrusions at both targets.
The Company is currently developing its budget and an early summer exploration program for 2024. This program will consist of a reconnaissance exploration program on the newly acquired WEAS claims and follow-up fieldwork on the Golden Mask and Main Tut prospects based on last year's encouraging results. The results from this program will inform a potential drilling program later in the summer.
Lock-up Terms of 5,000,000 Onyx Gold Shares to be Acquired by HighGold
Onyx was created as a result of the spin-out of Canadian assets from HighGold, whereby HighGold received five million common shares of Onyx. The Company is pleased to announce that HighGold has proposed to enter into a fifteen-month lock-up agreement (the "Lock-Up Agreement") in respect of the five million Onyx shares. Under the terms of the proposed Lock-Up Agreement, HighGold has agreed not to sell, swap or otherwise transfer any of its shares of the Company without the prior written consent of Onyx Gold, for a period of 24 months from the lock-up date, subject to automatic timed releases of 25% to be released 15 months from the lock-up date, and 25% to be released every 3 months thereafter. On May 2, 2024, HighGold announced its proposed acquisition by Contango ORE Inc. If the transaction is approved, Contango ORE would adopt the Lock-Up Agreement.
Plate 1 - Multiple Generations of Sheeted Quartz Vein Systems on the Property (16" mattock for scale)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/208544_717e55cef46dfbaa_002full.jpg
Figure 1 - Regional Map - Yukon's Selwyn Basin
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/208544_717e55cef46dfbaa_003full.jpg
Figure 2 - Property Map - King Tut and WEAS Properties - Surface Gold Geochemistry
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/208544_717e55cef46dfbaa_004full.jpg
Note - Highlighted historical samples noted herein have not been verified by the Company, but they provide evidence for the general gold endowment of the claims. Grab samples are selective in nature and don't necessarily represent bulk tonnage grades
Figure 3 - Property Map - WEAS Property - Historical Surface and Drilling Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/208544_717e55cef46dfbaa_005full.jpg
About the Yukon Gold Properties
Onyx Gold controls a portfolio of greenfield gold properties in eastern Yukon, totaling 227 square kilometers. The King Tut Property is Onyx Gold's most advanced and compelling property in the Yukon, located in the heart of an emerging reduced intrusive-related gold district in the Selwyn Basin. Previous fieldwork identified large-scale undrilled gold-in-soil anomalies in a comparable geological setting 50 km from the Rogue/Valley Discovery, one of Canada's most significant new gold discoveries.
About Onyx Gold
Onyx Gold is an exploration company focused on well-established Canadian mining jurisdictions, with assets in Timmins, Ontario, and Yukon Territory. The Company's extensive portfolio of quality gold projects in the greater Timmins gold camp includes the Munro-Croesus Gold property, renowned for its high-grade mineralization, plus two additional earlier-stage large exploration properties, Golden Mile and Timmins South. Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory, which is currently gaining significance due to recent discoveries in the area. Onyx Gold's experienced board and senior management team are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
Qualified Person and Quality Assurance
Ian Cunningham-Dunlop, P.Eng., Executive Vice President for Onyx Gold Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
On Behalf of Onyx Gold Corp.
"Brock Colterjohn"
President & CEO
For further information, please visit the Onyx Gold Corp. website at www.onyxgold.com or contact:
Brock Colterjohn, President & CEO
or
Nicole Hoeller, VP of Corporate Communications
Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165
Email: nicole@onyxgold.com or information@onyxgold.com.
Website: www.onyxgold.com
LinkedIn: https://www.linkedin.com/company/onyx-gold-corp/?viewAsMember=true
Twitter: https://twitter.com/OnyxGoldCorp
Neither 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 release.
Cautionary and Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the intention of the Company to proceed with the exercise of the Option under the Agreement on the terms and conditions set out therein, the Company's expectation to issue the Shares pursuant to the Agreement, the approval of the TSXV for the Agreement, the Company's future exploration plans, the possibility of the Bonus Payment becoming payable and the expected entering into of the Lock-Up Agreement.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Agreement; changes in the Company's plan with respect to the exercise of the Option and the Company's exploration plans; that the obligation to make the Bonus Payment may be triggered; that the Lock-Up Agreement may not be entered into; recent market volatility; and the state of the financial markets for the Company's securities.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the Agreement, that the Company will be able to comply with the terms of the Agreement, including the issuance of the Shares, in order to exercise the Option, that the Company will have the necessary resources to carry out its exploration plans as anticipated, or at all, and that the Company will receive an executed Lock-Up Agreement from HighGold.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE: Onyx Gold Corp.
Cascadia Minerals Announces 2024 Yukon Exploration Plans
https://www.newswire.ca/news-releases/cascadia-minerals-ltd-announces-2024-yukon-exploration-plans-806531897.html
Cascadia Minerals Ltd. May 09, 2024, 08:00 ET
VANCOUVER, BC, May 9, 2024 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce its fully-funded phase one exploration program for the 2024 field season. The phase one program will be focused on exploration for copper-gold porphyry systems throughout Yukon's underexplored Stikine Terrane – the same geological Terrane that hosts numerous copper-gold deposits in BC's prolific Golden Triangle. Phase one exploration will be anchored by a diamond drill program at the Catch Property to follow up on the 2023 drill discovery of a significant new copper-gold porphyry system, with drilling scheduled to commence May 15th.
Catch Drill Plan (CNW Group/Cascadia Minerals Ltd.)
Phase 1 Exploration Highlights
1,200 m of diamond drilling at the Catch Property, following up on 2023 drill hole CA-23-002 which returned 116.60 m of 0.31% copper with 0.30 g/t gold from a new porphyry discovery (Figure 1);
Comprehensive property-wide prospecting, mapping and soil sampling at Catch to advance up to ten additional copper-gold targets;
Inaugural exploration programs at the Mack's Copper and Milner properties, two recently staked Stikine Terrane projects hosting new copper-gold showings with significant copper-gold porphyry discovery potential (Figures 2, 3, 4); and
Grassroots exploration at the Sands of Time property, which hosts two large molybdenum ± copper soil anomalies located adjacent to Western Copper and Gold's Casino Project, where Rio Tinto and Mitsubishi Materials are strategic investors.
"We're very excited to embark on our Yukon exploration program for the 2024 season. Last year we successfully made a significant new copper-gold porphyry discovery at Catch in our inaugural diamond drilling program, and we look forward to drilling meaningful step-out holes this season. The closest historical diamond drilling to Catch is 50 km away, confirming this is a brand-new discovery in an area that has been previously overlooked," said Graham Downs, Cascadia's President and CEO. "We have also applied the Catch discovery model to other areas within Yukon's Stikine Terrane and have already staked two new projects as a result. We look forward to advancing these properties to the drill discovery stage as well, utilizing the same systematic and rapid exploration methodology conducted at Catch."
Figure 1 – Catch Drill Plan Map
Figure 2 – Cascadia Stikine Property Map
Figure 3 – Mack's Copper Highlights
Figure 4 – Milner Highlights
Figure 5 – Sands of Time Highlights
Catch Property
In 2023, Cascadia conducted the inaugural diamond drill program at the Catch Property, which resulted in the drill confirmation of a significant new copper-gold porphyry discovery at the Spark Zone (formerly named the Diorite Zone). Two holes were completed at this target in 2023, both of which encountered mineralization. Hole CA-23-002 returned 116.60 m of 0.31% copper with 0.30 g/t gold from 356.00 m and CA-23-001 returned 45.83 m of 0.30% copper with 0.15 g/t gold from surface (Figure 1).
Diamond drilling is scheduled to commence May 15th at the Spark Zone, stepping out from hole CA-23-002, targeting higher-grade potassic alteration in the core of the porphyry system. A small zone of potassic alteration was encountered in hole 2, which returned 0.95% copper and 0.96 g/t gold over 2.48 m from 437.52 m, confirming the higher-grade nature of potassic alteration in the system. The first hole in 2024 will be drilled 315 m southeast of hole CA-23-002, testing a much broader and stronger IP chargeability anomaly underlying mineralized outcrop samples. The second hole is planned to test a chargeability and resistivity high 150 m north of CA-23-002. Additional drilling may be completed if results warrant and financing conditions allow.
A comprehensive prospecting, mapping and soil sampling program will also be completed across underexplored portions of the property. Ten additional targets have been prioritized for follow-up rock sampling based on results of previous soil sampling and an airborne ZTEM survey. A 1.6 x 0.6 km copper-in-soil anomaly with an associated 500 x 500 m magnetic low (analogous to the Spark showing) located 10 km southeast of CA-23-002 has been identified as a high priority for prospecting. Crews will also work on improving Cascadia's understanding of the Volt Zone (formerly named the Main Zone), where abundant high-grade mineralization is present as float on surface, but limited diamond drilling has yet to intersect mineralization in bedrock.
For more information on the Catch property, please visit Cascadia's website at https://cascadiaminerals.com/projects/catch-yt/
Mack's Copper Property
The 75 km2 100%-owned Mack's Copper Property is located 44 km south of Carmacks, 10 km from the Klondike Highway and grid power, has a historical road to site, and is located in a similar geological setting to the Catch property. Cascadia staked Mack's Copper in late 2023 based on results from a grassroots evaluation of high-priority targets within the Stikine Terrane, and believes it has the potential to host significant copper-gold porphyry mineralization.
Work in 2023 included the collection of 118 rock samples, 38 soil samples, and 38 silt samples, as well as compilation and digitization of historical work within the property boundary. Cascadia crews collected a rock sample returning 3.31% copper with 1.23 g/t gold, 90.6 g/t silver and 0.90% lead from quartz veins within a basalt outcrop on the western portion of the property (Figure 3). An outcrop in the northeastern part of the property returned 0.68% copper with 0.31 g/t gold and 6.9 g/t silver in an area with no documented historical exploration. Crews also sampled 0.18% copper with 0.37 g/t gold, 40 g/t silver and 12.7 ppm molybdenum from subcrop in the southeastern part of the property within a historical copper-in-soil anomaly with historical rock samples returning up to 3.00% copper, with 1.28 g/t gold and 59.2 g/t silver.
These results combined with the synthesis of historical work and regional geophysics have identified multiple promising targets for copper-gold porphyry mineralization across the property, which will see follow-up mapping, prospecting and soil sampling in 2024.
Milner Property
The 44 km2 100%-owned Milner Property is located 80 km northeast of Whitehorse, adjacent to the Livingstone placer gold camp. The property is accessible by a large existing gravel airstrip on claims and a network of winter roads which extend from Whitehorse. This property was staked in late 2023 as part of Cascadia's regional Stikine Terrane evaluation program, and covers an area with no documented historical work.
Work in 2023 included the collection of 76 rock samples, 80 soil samples, and 3 silt samples. Rock samples from a large undocumented gossan on the east portion of the property yielded numerous anomalous results, with a highlight sample returning 0.45% copper with 0.24 g/t gold, 6.0 g/t silver, and 34 ppm molybdenum (Figure 4). A sample from the central part of the property returned 0.38% copper with 0.22 g/t gold from a float sample of a quartz vein.
The 2024 exploration program will include broad property-wide grid soil sampling, as well as focused prospecting in areas of anomalous 2023 soil and prospecting results or regional geophysical features.
Sands of Time Property
The 57 km2 Sands of Time Property is located immediately adjacent to Western Copper and Gold's Casino porphyry project in western-central Yukon. The property hosts two large molybdenum ± copper soil geochemical anomalies similar in size to the Casino Deposit (Figure 5).
The property is in unglaciated terrain and a copper-depleted leached cap is expected in this environment, similar to the Casino deposit. Molybdenum is relatively immobile compared to copper under these weathering conditions and can be used as a vector towards blind porphyry molybdenum ± copper-gold mineralization.
Exploration in 2024 will include prospecting, mapping, soil sampling and a review of historical core stored on the property. Work will be focused in two areas, the NE target – adjacent to the Casino property – and the Amoco target, where historical drilling returned grades similar to the leached cap of the Casino Deposit.
About Cascadia
Cascadia is a Canadian junior mining company focused on exploring for copper and gold in 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 30.00 g/t gold.
In addition to Catch, Cascadia is conducting exploration work at its PIL Property in British Columbia and the Sands of Time and Rosy properties in the Yukon, as well as additional early-stage regional projects. Cascadia has approximately 45 million shares outstanding and its largest shareholders are Hecla Mining Company and Barrick Gold.
QA/QC
Analytical work for samples was completed by ALS Canada Ltd, with sample preparation in Whitehorse, Yukon and geochemical analyses in North Vancouver, BC. Rock samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold was determined for rock samples by the PGM-ICP24 procedure which involves fire assay preparation using a 50-gram charge with an inductively coupled plasma-atomic emission spectroscopy finish ("ICP-AES"). Soil and silt samples were dry-screened at 180 micron, with analysis conducted on the fine fraction. Gold was determined for soil and silt samples by the Au-ICP21 method, which involves fire assay preparation with a 30-gram charge followed by an ICP-AES finish. Multi-element data for 48 elements was determined for all samples by the ME-MS61 procedure, which involves a four-acid digestion followed by ICP-AES and inductively coupled plasma-mass spectrometry. Overlimit values for copper and lead were determined by the ME-OG62 procedure, which involves a four-acid digestion followed by ICP-AES analysis.
Results referenced in this release represent highlight results only. Below detection values for copper, gold, silver, molybdenum and lead have been encountered in silt, rock and soil samples in these target areas. Historical samples are referenced from publicly available assessment reports and have not been independently verified by Cascadia.
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.
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: Andrew Carne, M.Eng., P.Eng., VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106, acarne@cascadiaminerals.com
Victoria Gold: 2024 First Quarter Results
https://ca.finance.yahoo.com/news/victoria-gold-2024-first-quarter-220600036.html
Victoria Gold Corp
Mon, May 13, 2024 at 3:06 p.m. PDT·16 min read
VITFF
+5.31%
TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Silver North Options GDR Silver Project, Silvertip-Midway District, Yukon
Three strategic claim groups located in Silvertip-Midway District
One claim group (Veronica) adjacent to Silver North’s Tim Property
https://thenewswire.com/press-releases/1k1vFQ3J8-silver-north-options-gdr-silver-project-silvertip-midway-district-yukon.html
Vancouver, BC, May 14, 2024 – TheNewswire – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to announce that it has completed an option agreement with three prospectors who hold the GDR Project in southern Yukon. The GDR Project consists of three claim groups totalling 150 claims in the Silvertip-Midway District and in the vicinity of Silver North’s Tim Silver Property which is under option to Coeur Mining, Inc. (“Coeur”). The GDR Project claims cover geology prospective for Carbonate Replacement Deposits (“CRD”) similar to that being explored at Tim and at Coeur’s nearby Silvertip Mine Project.
“The GDR acquisition represents a strategic move to acquire additional ground prospective for high grade CRD silver mineralization in this under-explored district,” stated Jason Weber, P.Geo., President and CEO of Silver North. “Despite the early-stage nature of these properties, all three have favourable characteristics for CRD mineralization. In particular, the Veronica claim group has a strong, unexplained multielement soil geochemical anomaly just west of our Tim Property. This complements the Tim Property nicely and gives Silver North access to more of the prospective stratigraphy in this district.”
Under the terms of the agreement, Silver North will make staged cash payments totalling $102,000 over four years ($6,000 payable on the Closing Date defined as being 5 business days following the TSX Venture Exchange’s approval) and staged share payments totalling 1,560,000 common shares over four years (180,000 shares on the Closing Date) to earn a 100% interest in the GDR Project, subject to a Net Smelter Return (NSR) royalty of 2.4% (0.9% of which can be purchased for $2 million).
GDR Silver Project
The three properties comprising the GDR Project (Veronica, MR, and MFW claim groups) are road and trail accessible with excellent potential for high-grade Ag-Zn-Pb CRD mineralization similar to the nearby Silvertip mine project owned by Coeur. The project claims have Ag-Pb-Zn showings and multi-element soil geochemical anomalies underlain by Paleozoic limestone, in a similar geological setting to CRD mineralization at Silvertip.
Veronica is located 11 km by road north of Silvertip and within 2km of Silver North’s Tim project. MR and MFW are located a further 10km and 17km north, and north of the Alaska Highway.
At Veronica a multi-element soil anomaly has been defined over an area 450 by 450 m and is open to the east with values that range from 0.3 - 31.1 ppm Ag, 60 - 3100 ppm Pb, and 50 - 612 ppm Zn. This new anomaly has not been trenched, drilled or explained by prospecting and presents a compelling target for exploration follow up. Limestone and quartzite outcrop in the area.
Further south on the Veronica property and along the Yukon border, high Ag, Pb and Zn values in soils are associated with quartz veins cutting Paleozoic shales. Soil values range from 0.1 - 8.67 ppm Ag, 28 - 2780 ppm Pb, 25 - 2500 ppm Zn, and have not been explained.
The nearby Stollery barite prospect has had historic soils sampling and cat trenching and may represent a sedex Zn-Pb-Ag-barite environment.
Click Image To View Full Size
The MFW property covers a discontinuous 1500 m-long Ag-Pb-Zn soil anomaly that remains unexplained. Confirmation sampling within the anomaly conducted in 2016 returned 14 of 61 soil samples with >2.0 ppm Ag, with a high of 17.95 ppm Ag, 348 ppm Pb, 1060 ppm Zn, 143.5 ppm As and 10.65 ppm Sb. The anomalous elements are suggestive of a potential CRD style mineralized source. Nearby outcrops consist of limestone and quartzite.
The MR property covers a number of historic trenches excavated to explore a series of carbonate-hosted, zinc-oxide prospects. The best results include: 20m of 5.05% Zn, 1.97% Pb and 3.4 ppm Ag and 1.5m of 8.8% Pb and 51.4 ppm Ag. A vein structure discovered in 2016 and chip sampled in 2018 returned 1m @ 477 ppm Ag, 9.29% Pb and 0.91% Zn. Soil sampling to the southeast of this structure has defined an anomaly over 300 by 500m of > 2 ppm Ag and up to 7.6 ppm Ag with associated anomalous Pb and Zn concentrations. The anomaly remains unexplored and unexplained.
The Veronica claim group partially lies within the Area of Interest surrounding the Tim Property, and as such, Silver North is obligated to offer the Veronica for inclusion within the Tim Option agreement between Silver North and Coeur. If Coeur agrees to include the Veronica claims, it will reimburse one half of Silver North’s acquisition costs.
Other Properties
Silver North has dropped the lease on the Twin Canyon gold property in southwest Colorado and will be transferring its claim holdings to the underlying vendors. Management was unsuccessful in finding a partner to move the project forward and felt that focussing on Silver North’s core assets is the most effective use of it capital resources.
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.). Silver North also holds gold and base metal projects in Yukon Territory, Colorado and Nevada, and is actively seeking partners for them. Silver North also plans to acquire additional silver properties in favourable jurisdictions.
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
Twitter: https://twitter.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
CANTEX INTERSECTS UP TO 25.07% LEAD-ZINC WITH 72g/t SILVER AT ITS 100% OWNED NORTH RACKLA PROJECT, YUKON AND WILL COMMENCE DRILLING ITS COPPER PROJECT WHERE PREVIOUS DRILLING INTERSECTED 2.5m OF 3.93% COPPER
https://www.newswire.ca/news-releases/cantex-intersects-up-to-25-07-lead-zinc-with-72g-t-silver-at-its-100-owned-north-rackla-project-yukon-and-will-commence-drilling-its-copper-project-where-previous-drilling-intersected-2-5m-of-3-93-copper-825335113.html
Cantex Mine Development Corp. May 13, 2024, 06:30 ET
KELOWNA, BC, May 13, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF)
Gladiator Announces Further High-Grade Copper Results from Chiefs Trend: 20.44m at 2.17% Copper Returned
https://www.newsfilecorp.com/release/208297
May 08, 2024 3:05 AM EDT | Source: Gladiator Metals Corp.
Forge Resources Announces Mobilization Date for Spring Drill Program at Alotta Project
https://www.newsfilecorp.com/release/208211
May 07, 2024 8:30 AM EDT | Source: Forge Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the scheduled start of mobilization on May 18, 2024, of equipment and fuels to commence the re-establishment of camps and construction of drill pads. On or about May 24, drill crews will travel to site and commence drill testing of the priority targets.
Lorne Warner P.Geo, President of Forge Resources, states: "We are excited to restart our Phase 1 drilling program. Based on last year's successful results and quality of targets, we have high expectations of further success. I anticipate being in camp for most of the drilling to help guide the program and observe the cores alongside our partnered operators, Archer Cathro."
Drill Plan Recap
The company is proposing to complete up to 5 drill holes for a total of 2,500 metres as part of the continuation of the fall 2023 diamond drilling program that paused in for the winter season.
As announced on April 18, 2024, the proposed holes will focus on several high priority and undrilled tested coincident geochemical/geophysical anomalies along a four-kilometre trend. Archer Cathro has created a preliminary drill plan for the 2024 Alotta field program, to test for porphyry-style mineralization on the property. The plan is designed to test the best drill targets based on merit. The company plans to commence further reconnaissance drill testing on the Payoff and Severance target areas this spring. These areas are situated in closer proximity to the core area of coincident soil and geophysical anomalies with previous rock sampling confirming the occurrence of copper and gold mineralization.
Payout and Severance Zones
The two primary targets on the property are the Payout and Severance Zones, located in the west-central and east-central parts of the property. These two zones have significant surface mineralization, which comprise highly anomalous gold, copper and molybdenum values from rock and soil samples. These targets represent the areas of the property with significant (>1 g/t gold) rock values on surface.
For preliminary drilling, a total of four holes are recommended to test surface mineralization and geophysical anomalies at depth. At both targets, the first hole is designed as a shallow angle hole to test the extent of mineralization directly beneath the prospective area, while the second is steeper to test for deeper mineralization and corresponding chargeability/resistivity anomalies present in the vicinity.
Alimony and Commission Targets
In a later drilling phase, the company has two additional drill targets to test. The Alimony Target is a significant 1200 m by 500 m molybdenum-gold soil anomaly that coincides with overlapping chargeability and resistivity anomalies. In the eastern part of the property, the Commission Target is defined by a 1500 m by 1000 m gold-copper-molybdenum soil anomaly, which corresponds to magnetic low to moderate response. A well constrained resistivity anomaly is present that coincides with strongly anomalous gold and copper soil values.
Fall 2023 Program Results
In November 2023 two drill holes were completed on the property which confirmed the porphyry style nature of mineralization. As announced on February 24, 2024, Hole ALT-23-01 intercepted 211.65 metres of 0.46 grams/tonne gold from the first ever diamond drill hole on the property.
Proximity to Proven Resources
The Alotta property consists of 96 mineral claims that cover approximately 1,926 hectares that is located 50 km south-east of Western Copper and Gold's Casino deposit. The Casino deposit is one of the most economic, greenfield copper-gold mining projects in the world which is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits in the world. Western Copper and Gold announced on April 30, 2024, the completion of their bought deal public offering with gross proceeds of $46 million. Subsequently, on May 6, 2024, they announced the completion of a further $5 million financing with Rio Tinto.
Figure 1 outlines the high priority target areas and proposed drilling within the Alotta property with potential gold-copper-molybdenum, porphyry style mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/208211_b8c8056de45dfa66_001full.jpg
Figure 2 provides an illustration of the Casino Deposit superimposed over the Allotta's molybdenum in soil geochemistry.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/208211_b8c8056de45dfa66_002full.jpg
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.
In addition, 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@forgeresources.com
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.
Snowline Gold Discovers Four New Reduced-Intrusion Related Gold System Targets at its Rogue and Cynthia Projects, Yukon, with Visible Gold in Outcrop Samples to 86.5 Grams per Tonne Gold
https://www.accesswire.com/858782/snowline-gold-discovers-four-new-reduced-intrusion-related-gold-system-targets-at-its-rogue-and-cynthia-projects-yukon-with-visible-gold-in-outcrop-samples-to-865-grams-per-tonne-gold
Thursday, 02 May 2024 06:00 AM
Three additional new reduced intrusion-related gold system targets established on the Rogue Project, with an additional fourth target discovered on the Cynthia Project.
Continuous outcrop samples yield up to 5.12 g/t Au over 3.3 m at the Livia target, Rogue Project, and 2.93 g/t Au over 2.0 m at the Sydney target, Cynthia Project.
Visible gold in sheeted veins discovered in outcrop in a newly identified intrusion at the Ramsey target, Rogue Project, with an outcrop grab sample of 86.5 g/t Au.
VANCOUVER, BC / ACCESSWIRE / May 2, 2024 / SNOWLINE GOLD CORP (TSX-V:SGD)(OTCQB:SNWGF)
Sitka Gold Drills 191.0 Metres of 1.16 g/t Gold Including 89.0 Metres of 2.03 g/t Gold and 11.0 Metres of 5.80 g/t Gold at its RC Gold Project, Yukon
https://www.accesswire.com/858362/sitka-gold-drills-1910-metres-of-116-gt-gold-including-890-metres-of-203-gt-gold-and-110-metres-of-580-gt-gold-at-its-rc-gold-project-yukon
Wednesday, 01 May 2024 08:30 AM
VANCOUVER, BC / ACCESSWIRE / May 1, 2024 / Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG)(FSE:1RF)(OTCQB:SITKF)
Sitka to Complete Acquisition of 100% Ownership of its Flagship RC Gold Project, Yukon
https://www.accesswire.com/858005/sitka-to-complete-acquisition-of-100-ownership-of-its-flagship-rc-gold-project-yukon
Tuesday, 30 April 2024 08:30 AM
VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG)(FSE:1RF)(OTCQB:SITKF)
Snowline Gold Consolidates 100% of Its Einarson Project and Acquires Adjacent Gold Target With Historical Drill Result of 9.7 Grams per Tonne Gold Over 38.7 M
https://www.accesswire.com/856439/snowline-gold-consolidates-100-of-its-einarson-project-and-acquires-adjacent-gold-target-with-historical-drill-result-of-97-grams-per-tonne-gold-over-387-m
Thursday, 25 April 2024 06:00 AM
Snowline consolidates 100% ownership of its district-scale Einarson Project, including its drill discovery of an orogenic gold system at the Jupiter target.
Consolidation agreement also includes acquisition of adjacent, privately held gold target with historical drill results reported up to 9.67 g/t Au over 38.7 metres.
Recent staking bolsters Snowline's Yukon land position by 22,000 ha to >360,000 ha (>3,600 km2), with expansions to its Rogue and Einarson projects.
VANCOUVER, BC / ACCESSWIRE / April 25, 2024 / SNOWLINE GOLD CORP (TSXV:SGD) (OTCQB:SNWGF)
Sitka to Acquire 100% Ownership of the Barney Ridge Property Adjacent to the Blackjack and Eiger Gold Deposits at its RC Gold Project, Yukon
https://thenewswire.com/press-releases/1LaPFdRWZ-sitka-to-acquire-100-ownership-of-the-barney-ridge-property-adjacent-to-the-blackjack-and-eiger-gold-deposits-at-its-rc-gold-project-yukon.html
VANCOUVER, CANADA – TheNewswire - April 23, 2024: Sitka Gold Corp. (“Sitka” or the “Company”) (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF)
Banyan Announces 2024 Exploration and Technical Program, AurMac Project, Yukon, Canada
https://www.accesswire.com/854257/banyan-announces-2024-exploration-and-technical-program-aurmac-project-yukon-canada
Thursday, 18 April 2024 06:00 AM
VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF)
Benjamin Hill Announces Target Areas for Drill Testing at Alotta Project, Yukon
https://www.newsfilecorp.com/release/205969
April 18, 2024 8:30 AM EDT | Source: Benjamin Hill Mining Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) ("BNN" or the "Company") is pleased to announce the company has prioritized the initial target areas for drill testing this spring on the Alotta project. Currently, the company is proposing to complete up to 5 drill holes for a total of 2,500 metres as part of the continuation of the fall 2023 diamond drilling program that paused in November for the winter season.
The proposed holes will focus on several high priority and undrilled tested coincident geochemical/geophysical anomalies along a four-kilometre trend. Archer Cathro and Benjamin Hill have created a preliminary drill plan for the 2024 Alotta field program, to test for porphyry-style mineralization on the property. The strategy is designed to test the best drill targets based on merit. These areas are situated in closer proximity to the core area of coincident soil and geophysical anomalies with previous rock sampling confirming the occurrence of copper and gold mineralization.
Lorne Warner, President and P.Geo for Benjamin Hill, states, "We are very optimistic that this year's drilling program will continue to or exceed last year's drill results. In 2023 we started the first ever drilling program on the property, completing two drill holes resulting in the discovery of gold, copper and molybdenum porphyry style mineralization."
Exploring Payout and Severance Zones
The two primary targets on the property are the Payout and Severance Zones, located in the west-central and east-central parts of the property. These two zones have significant surface mineralization, which comprise highly anomalous gold, copper and molybdenum values from rock and soil samples. These targets represent the areas of the property with significant (>1 g/t gold) rock values on surface.
For preliminary drilling, a total of four holes are recommended to test surface mineralization and geophysical anomalies at depth. At both targets, the first hole is designed as a shallow angle hole to test the extent of mineralization directly beneath the prospective area, while the second is steeper to test for deeper mineralization and corresponding chargeability/resistivity anomalies present in the vicinity.
Expanding Exploration to Alimony and Commission Targets
In a later drilling phase, the company has two additional drill targets to test. The Alimony Target is a significant 1200 m by 500 m molybdenum-gold soil anomaly that coincides with overlapping chargeability and resistivity anomalies. In the eastern part of the property, the Commission Target is defined by a 1500 m by 1000 m gold-copper-molybdenum soil anomaly, which corresponds to magnetic low to moderate response. A well constrained resistivity anomaly is present that coincides with strongly anomalous gold and copper soil values.
Figure #1 above outlines the high priority target areas within the Alotta property with potential gold-copper-molybdenum, porphyry style mineralization. Target areas have not been drill tested.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/205969_dc6ef53734586b46_001full.jpg
In November 2023 two drill holes were completed on the property which confirmed the porphyry style nature of mineralization. As announced on February 24, 2024, Hole ALT-23-01 intercepted 211.65 metres of 0.46 grams/tonne gold from the first ever diamond drill hole on the property.
Proximity to Proven Resources
The Alotta property consists of 96 mineral claims that cover approximately 1,926 hectares that is located 50 km south-east of Western Copper and Gold's (TSX: WRN) Casino deposit. The Casino deposit is one of the most economic, greenfield copper-gold mining projects in the world which is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits in the world. Indicating strong investor support in the region, Western Copper and Gold recently announced on April 16, 2024 that they have upsized from $25 to $40 million a bought deal public offering.
Figure # 2 above provides a historical (Feb 2023) illustration of the Casino Deposit superimposed over unglaciated, anomalous copper in soil geochemistry.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/205969_dc6ef53734586b46_002full.jpg
About Benjamin Hill Mining Corp.
Benjamin Hill Mining 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.
In addition, 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 Benjamin Hill Mining Corp.
info@benjaminhillmining.com
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: Benjamin Hill Mining Corp.
Lode Gold (Formerly Stratabound) Initiates Work to Investigate High-Grade Underground Potential at Fremont on the Prolific Mother Lode Belt, ~500 km from Equinox Gold
https://www.newsfilecorp.com/release/204990
April 10, 2024 5:22 PM EDT | Source: Lode Gold Resources Inc.
Toronto, Ontario--(Newsfile Corp. - April 10, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company" formerly Stratabound Minerals Corp.) is pleased to announce that it has retained the services of Carlos Saban, an exploration and mine development geologist to review the Company's Fremont Gold Project (Fremont) and to develop a geological model for a potential high-grade underground gold mine.
Carlos Saban is skilled in re-interpreting complex mineralized systems. By carefully studying previously mined grades, re-analyzing cut-offs, and gaining new understanding of mineralization, structural and lithological controls, he has been able to systematically expand and upgrade resources in multiple brownfield projects, including work at the Uchucchacua and Recuperada districts, two of the top silver districts in Peru. Carlos has been involved in the identification, delineation, and modelling of several NI 43-101 mineral resource updates, including PEA- and PFS-compliant multi-million-ounce precious metal deposits during his career.
Lode Gold has tasked Carlos to investigate Fremont as a potential high-grade underground mine. He will focus on understanding the mineralized veins and ore shoot plunges. This analysis will enable Lode Gold to better define brownfield exploration targets. He will also review Fremont's open-pit model, historical underground workings, previously mined grades, level plans and sections, sampling and production records, and drill hole data base to establish the structural controls of high-grade gold mineralization at Fremont and to generate exploration targets extending beyond the limits of the current published resource.
Fremont began operations in or around 1860, with documented production of at least 125,825 ounces of gold at an average grade of 8 g/t Au. It was one of the many gold mines that was closed during the 1942 prohibition on gold mining due to World War II. At that time, gold was less than USD $40/Oz. Inevitably, the mine became a small-scale operation focused on high-grade (165 t/d). When the mine was shuttered by the government, Fremont was ramping up production and executing an extensive exploration program of the main Pine Tree and Josephine veins through drifting and underground diamond drilling. Work was focused on just two of the five known deposits.
Lode Gold acquired Fremont in an all-share transaction in August 2021. Since then, the company has increased the Indicated resource by +125% and the Inferred resource by +456%; the Project currently 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. At a sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold, the Project has an after-tax NPV(5%) of USD $370MM and a 31% IRR over an 11-year LOM.
The NI 43-101 compliant resource includes the Pine Tree – Josephine and Queen Specimen deposits and extends along 1,400 metres of combined strike, which represents only 35% of the property length. This work envisioned mining the resource using open pit methods. Of note, currently the project mainly encompasses the upper levels which are less than 200 metres deep; this constitutes ~35% of that deposit. Specifically, areas of opportunities exist untapped below 200 metres, extending to 500 metres. Three step-out holes hit the mineralized structure, including a 1,200-m wildcat drill hole. This is consistent with typical orogenic deposits that have structure and control at depth such as La Ronde (Agnico-Eagle), Hemlo (Barrick), and Homestake (Dakota Gold).
FREMONT HIGHLIGHTS
100%-owned, 3,351 acres of private land
Located on the Mother Lode Belt (50,000,000 ounces produced)
Located in Mariposa County, site of the original Gold Rush
Excellent site infrastructure with hydro sub-station, highway access and proximity to airports and seaports
Historical mine production at 8 g/t Au
23 km of underground mine workings
Only two of five known deposits have been exploited
Mining operation suspended due to War in 1942
NI 43-101 MRE evaluates only 1.4 km of the 4 km strike length (35%)
At a sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold, the Project has an after-tax NPV(5%) of USD $370MM and a 31% IRR over an 11-year LOM
Depth potential with three step-out holes hit the mineralized structure
Jon Hill, Director and Chair of Lode Gold's Technical Committee commented, "There is no doubt that Fremont is a significant gold deposit with material upside potential. Globally, there are not many examples for orogenic gold deposits whereby upwards of 2 Moz of Mineral Resource can be optimized within a single pit as Lode Gold's published 2023 PEA demonstrates. Carlos' data review of historical data aims to identify structurally controlled, plunging high-grade targets typical of these orogenic systems, beyond the current mineral resource limits. Supporting this thesis is the grade of 8 g/t Au attributed to historical production up to when the mine was shuttered in 1942 due to World War II. We are looking forward to demonstrating the potential for a multi-million-ounce high-grade deposit to compliment the large open pit mineable resources already in hand."
ABOUT LODE GOLD
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 120 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 50m) 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.
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 www.stratabound.com or contact:
Gary Nassif
Senior Vice President, Director
info@stratabound.com
+1 (416) 915-4157
Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext. 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.
SOURCE: Lode Gold Resources Inc.
Victoria Gold: Eagle Gold Mine Q1 2024 Operational Highlights
https://ca.finance.yahoo.com/news/victoria-gold-eagle-gold-mine-100000845.html
Victoria Gold Corp
Wed, April 10, 2024 at 3:00 a.m. PDT·6 min read
VITFF
-12.99%
WHITEHORSE, Yukon, April 10, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Sitka Intercepts Visible Gold in Second Step Out Diamond Drill Hole of 2024 at its RC Gold Project in Yukon
https://thenewswire.com/press-releases/1AJ6FblEE-sitka-intercepts-visible-gold-in-second-step-out-diamond-drill-hole-of-2024-at-its-rc-gold-project-in-yukon.html
VANCOUVER, CANADA – TheNewswire - April 9, 2024: Sitka Gold Corp. (“Sitka” or the “Company”) (TSX-V:SIG) (FSE:1RF) (OTCQB:SITKF)
Rackla Metals Defines New Reduced Intrusion-Related Gold System at Kelvin Stock -- Maiden Drill Program planned for June 2024
https://thenewswire.com/press-releases/1AdyFNrDv-rackla-metals-defines-new-reduced-intrusion-related-gold-system-at-kelvin-stock-maiden-drill-program-planned-for-june-2024.html
Vancouver, British Columbia – April 1, 2024 – Rackla Metals Inc. (TSXV:RAK) (the “Company”) is pleased to announce the results of the 2023 exploration program on the Peak target in the Kelvin Stock intrusive bodies of the Astro Plutonic Complex, Yukon and the 2024 drill plans for the property.
In 2023, the Company completed a comprehensive exploration program on the property that included an airborne geophysical survey, stream sediment, soil (talus-fine) and rock sampling, prospecting, and mapping. Rackla is extremely pleased with the results obtained, which are particularly impressive considering it was the Company’s first year working on the project, having acquired an option on the property in the fall of 2022.
The results highlighted that the mineralization discovered within the Kelvin Stock is related to a Reduced Intrusion-Related Gold System (RIRGS). The geophysical signature of the target exhibits features characteristic of an RIRGS – a magnetic low in the centre of the reduced intrusion surrounded by magnetic high shoulders caused by contact alteration in the contact aureole. The magnetic low extends eastward under sedimentary cover in the area of the Peak target and the Company believes this represents an area where there is thin sedimentary cover overlying the causative intrusion.
Kelvin Stock 2023 airborne geophysical survey magnetic response (Reduced to the Pole, RTP).
Click Image To View Full Size
The stream sediment sampling program (43 samples) highlighted the Peak target area as anomalous for gold, arsenic, and bismuth, with a good correlation among these elements and very strong gold in stream sediments.
Rackla collected 314 talus-fine samples in the southeastern portion of the Kelvin Stock and defined 2 anomalous areas, Peak and Cirque. The Peak target anomaly measures 1.5 km by 1.0 km and is well defined by a sheeted vein system with anomalous gold values. It is a robust anomaly with coincident gold, arsenic and bismuth, typical of a RIRGS target. Prospecting and rock sampling at Peak returned a high percentage of samples containing greater than 1.0 g/t gold. Twenty percent, or 49 out of 237 rock samples collected on the property have returned >1.0 g/t gold with the highest value being 17.8 g/t gold. The gold occurs primarily in sheeted quartz-arsenopyrite-bismuth veins that occur in the sedimentary rocks along the eastern margin of the Kelvin Stock, host to the Peak target. The veins trend north-northeasterly and individual veins can be traced for hundreds of meters. The vein system has been traced for 1 km along strike and 1.5 km across strike.
Rackla eagerly awaits the start of the summer exploration season in Yukon and is keen to get a drill turning on the Peak target.
The Cirque target has been defined by a single base-of-slope contour line which also has coincident gold, arsenic and bismuth values. Interestingly, the gold-in-soil values at Cirque are highly anomalous for the region. Only a limited amount of work was completed at Cirque in 2023 and the Company plans a significant surface program to expand on and define this anomaly further. Rackla plans to be in a position to drill test the Cirque target later in the 2024 season.
Peak target soil and rock sample anomalies
Click Image To View Full Size
Simon Ridgway, Rackla Metals CEO, commented: “The work completed on the Astro Plutonic Complex in 2023 was successful in identifying RIRGS targets in the most eastern reaches of the Tombstone Gold Belt. RIRGS deposits occur in clusters and in western Yukon, the western cluster (Eagle, Aurmac, Brewery Creek, RC and Red Mountain) contain +20 million ounces of gold(1). If the eastern cluster, which includes Snowline Gold’s Rogue Plutonic Complex and Rackla’s Astro Plutonic Complex, is as productive as the western cluster, these will be exciting times for the Company.
Our team is currently planning the drill program at HIT, a maiden drill program at Peak, advancing the Cirque target to the drill stage and exploring our other projects in the Belt with the characteristics of a Reduced Intrusion-Related Gold System.”
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.
(1) Yukon Geological Survey, 2023. Yukon Mineral Deposits Summary 2023. Yukon Geological Survey, 18 p.
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 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 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.
Sitka Intercepts Visible Gold in First Diamond Drill Hole of 2024 at its RC Gold Project in Yukon
https://thenewswire.com/press-releases/1AqRFGqKO-sitka-intercepts-visible-gold-in-first-diamond-drill-hole-of-2024-at-its-rc-gold-project-in-yukon.html
VANCOUVER, CANADA – TheNewswire - March 28, 2024: Sitka Gold Corp. (“Sitka” or the “Company) (TSX-V:SIG) (FSE:1RF) (OTCQB:SITKF) i
White Gold Identifies Multiple Prospective IP Chargeability Anomalies on Two Large Multi-Element Porphyry Targets in Close Proximity to the Casino Copper-Gold Porphyry Deposit, Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-identifies-multiple-110000620.html
White Gold Corp.
Wed, March 27, 2024 at 4:00 a.m. PDT·18 min read
WHGOF
-0.38%
Figure 1 - Pedlar-Hayes Location Map
Figure 1 - Pedlar-Hayes Location Map
Figure 2 - Regional Porphyry Targets
Figure 2 - Regional Porphyry Targets
Figure 3 - Bridget IP Line 1N
Figure 3 - Bridget IP Line 1N
Figure 4 - Bridget L1N - IP Chargeability + Soils
Figure 4 - Bridget L1N - IP Chargeability + Soils
Figure 5 - Bridget IP Chargeability + Copper
Figure 5 - Bridget IP Chargeability + Copper
Figure 6 - Isaac IP Line 1E
Figure 6 - Isaac IP Line 1E
Figure 7 - Isaac IP Line 4N
Figure 7 - Isaac IP Line 4N
Figure 8 - Isaac L1E - IP Chargeability + Soils
Figure 8 - Isaac L1E - IP Chargeability + Soils
TORONTO, March 27, 2024 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company”) is pleased to provide an exploration update on the Bridget and Isaac porphyry targets located on the Pedlar and Hayes properties, respectively. Exploration work completed during 2023 included Induced Polarization (IP) chargeability and resistivity survey lines and hyperspectral analysis on 2022 prosecting rock samples. All data collected thus far on these large early-stage targets continue to support a porphyry deposit model.
The Pedlar and Hayes properties are situated in the southern part of the Company’s 315,000 hectare (3,150 km2) land package in the White Gold District, west-central Yukon (Figure 1). Western Copper and Gold Corporation’s Casino copper-gold-molybdenum porphyry deposit (Measured & 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) sits approximately 30 km southwest and 40 km west of the Bridget and Isaac targets respectively. Casino is one of the largest undeveloped copper-gold projects in Canada, and since 2021 has seen strategic investments by major partners including Rio Tinto Canada Inc. and Mitsubishi Materials Corporation. The Pedlar and Hayes properties are also located 40 km and 72 km southeast, respectively, of the Company’s flagship White Gold project which contains an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources(1).
Terry Brace, Vice President of Exploration commented: “We are encouraged by results of the 2023 IP test lines at the Bridget and Isaac targets which identified new anomalies and structures that overall correlate well with the soil geochemistry anomalies and current structural interpretations. The new IP looked deeper than any previous geophysical surveys and demonstrates potential at depth beneath these large multi-element soil anomalies. The test results warrant full IP survey coverage over the target areas which will aid in mapping these systems at depth in support of future diamond drill testing.”
Shawn Ryan, co-founder, Chief Technical Advisor and Director, commented further: “The Bridget target has an interesting history as it was one of four top prospects that was first discovered back in 1972 when Silver Standard Mines conducted an extensive 14,000 plus regional silt survey looking for another Casino. During the large regional silt survey, Silver Standard also made the Minto Copper discovery and eventually focused all their attention on that target. I staked the Bridget prospect back in 2004, and since then the property has seen extensive soil sampling programs, airborne radiometric surveys and shallow RAB drilling. The soil sampling program revealed a large copper, molybdenum and bismuth soil anomaly. The molybdenum anomaly (2 to 322 ppm) measures 4 km by 1.7 km and coincides with a very discrete bismuth anomaly (2 to 154 ppm) of 3 km by 1.4 km and a copper core anomaly (50 to 711 ppm) measuring 2.8 km by 1.3 km. A deep penetrating dipole-dipole IP survey was undertaken in summer 2023 with one line over the core of the soil anomaly and the results clearly show a textbook porphyry geophysical signature of resistivity lows and chargeability high anomalies sitting below the anomalous soils. It’s now recommended to follow up with more IP survey lines to cover this large developing porphyry target. I look forward to first diamond drill holes into this exciting target.”
An overview of the Pedlar and Hayes properties, including the Bridget and Isaac targets, was provided previously in a news release dated April 5, 2023 which is available on the Company’s website (https://whitegoldcorp.ca/news/) and on SEDAR+. Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights
The Bridget and Isaac targets represent large, early-stage, multi-element porphyry targets that have never been diamond drill tested.
Deep penetrating test IP survey lines conducted over existing soil geochemistry anomalies have identified a total of 13 chargeability anomalies, 5 at Bridget and 8 at Isaac.
The Bridget soil anomaly on the Pedlar property measures 3 km NW-SE by 3.5 km NE-SW and is interpreted to represent a copper-molybdenum porphyry target. It is geochemically zoned with a molybdenum-copper-bismuth core and a silver-zinc-lead-tungsten halo.
At Bridget, one 1st priority and four 2nd priority chargeability anomalies were identified, with target depths ranging from 40 to 330 m. The chargeability anomalies underly a large molybdenum-copper soil anomaly, and a zone of moderate to strong chargeability to the southwest appears to mark a controlling WNW (290°) striking fault which correlates with anomalous lead-zinc-arsenic in soils.
The Isaac soil anomaly on the Hayes property is a recently discovered target which measures 2 km E-W by 1.5 km N-S, and is interpreted to represent a copper-molybdenum porphyry target. It is geochemically zoned with a bismuth-arsenic-copper core and a silver-zinc-lead halo.
At Isaac, four 1st priority, three 2nd priority and one 3rd priority chargeability anomalies were identified, with target depths ranging from 50 to 550 m. The bismuth and copper core of the soil anomaly is underlain by multiple chargeability anomalies (S1, S2, M1 and W1 on Line 1E) which sit above a resistivity low. Anomalous lead, zinc, and silver, which form a halo around the core, are coincident with fault structures on the south side and north side of the survey area which trend NE (065°) and NW (290°) respectively.
2022 prospecting rock samples from both the Bridget and Isaac targets show anomalous trace element enrichments, including copper, molybdenum and silver, consistent with proximal porphyry copper-style mineralization.
Hyperspectral analysis results for the prosecting rock samples at both Bridget and Isaac show alteration mineralogy consistent with a porphyry deposit model.
The Company is currently planning its fully funded 2024 exploration program, focusing on its existing significant gold resources, new high grade gold discoveries and other high priority gold and multi-element targets. The Company will arrange a webinar to provide a more detailed overview of the 2023 exploration results and plans for 2024 at that time. Details to be announced in due course.
Regional Setting – The Dawson Range
The Dawson Range forms an east-southeast trending mountain range which hosts several important mineral deposits and prospects (Figure 2) including the Casino porphyry Copper-Gold deposit in the west. In the southeast near the community of Carmacks, the Minto Mine contains resources of 356 Mlb copper, 189 Koz gold, and 1.7 Moz silver in Indicated Resources and 370 Mlb copper, 207 Koz gold, and 1.9 Moz silver in Inferred Resources(5), and the Carmacks Copper project hosts 652 Mlb copper, 302 Koz gold, 3.8 Moz silver in Measured and Indicated Resources and 38 Mlb copper, 13 Koz gold, and 215 Koz silver in Inferred Resources(6) (Granite Creek Copper Ltd.), both interpreted to represent metamorphosed copper-gold-silver porphyry deposits. Porphyry deposits in the Dawson Range can be divided into 2 major ages, Late Triassic (Minto, Carmacks) and Late Cretaceous (Casino, Cash, Revenue). In addition to porphyry mineralization, epithermal, skarn, and polymetallic to gold-dominant mineralized veins, breccias and fracture zones also occur throughout the Dawson Range(7). In recent years this area has drawn increased attention and investment from both junior and major mining companies due to its high mineral potential.
2023 IP Surveys
In August 2023, Simcoe Geoscience Limited (Simcoe) carried out 7.2 line-km of time domain induced polarization (IP) chargeability and resistivity surveying at the Bridget and Isaac targets using their wireless 2D Alpha IP™ system (see About IP Survey below). At Bridget, a single 3.0 km long IP test line (line 1N) oriented NE-SW was completed using a dipole-dipole configuration. At Isaac, two IP test lines totaling 4.2 km long were oriented perpendicular to each other at NE-SW (line 4N) and NW-SE (line 1E) using a dipole-pole-dipole configuration. Both configurations can detect anomalies up to 600+ m depth.
IP Results
At Bridget, five chargeability anomalies were identified on Line 1N (Figure 3), including one 1st priority anomaly (S1) and four 2nd priority anomalies (M1-M4). Anomaly S1 has a target depth of 130 m and is characterized by strong chargeability and low resistivity. Target depths on the second priority anomalies range from 40 m (M3, M4) to a maximum of 330 m (M1). These are characterized by moderate to high chargeability and low to high resistivity.
The Bridget chargeability anomalies are plotted in relation to soil geochemistry results in Figure 4 (molybdenum, copper, lead, zinc) and Figure 5 (copper). The chargeability anomalies generally correspond with a zone of low resistivity which underlie a large molybdenum-copper soil anomaly. A zone of moderate (M1) to strong (S1) chargeability in the southwest delineates a controlling west-northwest (WNW, 290°) striking fault structure, closely correlated with lead, zinc, and arsenic soil anomalies. To the northeast, a similar WNW (295°) anomaly in lead, zinc, and arsenic defines the boundary of this chargeability anomaly and coincides with a significant tungsten anomaly, positioned along the northeastern fringe of a molybdenum anomaly. It is worth noting that in 2018 the Company drilled 10 short rotary air blast (RAB) drill holes totalling 548.6 m over the area between chargeability anomalies M2 and S1. However, these RAB holes were testing surface soil anomalies and drilled to a shallow maximum depth of only 70 m, hence the newly IP chargeability anomalies identified are completely untested.
At Isaac, 8 chargeability anomalies were identified on Lines 1E and 4N. Five anomalies occur on Line 1E (Figure 6), including three 1st priority anomalies (S1-S3), one 2nd priority anomaly (M1) and one 3rd priority anomaly (W1). The 1st priority anomalies are characterized by moderate chargeability and low to high resistivity. Target depths of the 1st priority anomalies range from 70 m (S3) to 250 m (S2). An additional three anomalies occur on Line 4N (Figure 7), including one 1st priority anomaly (S1) and two 2nd priority anomalies (M1-M2) (see Figure 7). Target depths of these chargeability anomalies range from 220 – 550 m.
The Isaac chargeability anomalies on Line 1E, oriented NW-SE, are plotted in relation to soil geochemistry results for select elements (bismuth, copper, lead, silver) in Figure 8. The bismuth anomaly appears to be controlled by faults interpreted from the IP resistivity data. The bismuth and copper core of the soil anomaly is underlain by multiple chargeability anomalies (S1, S2, M1 and W1) which sit above a resistivity low which is interpreted as a fault structure. Lead, zinc, and silver, which form a halo around the core, are coincident with fault structures on the south side and north side of the survey area which trend NE (065°) and NW (290°) respectively. Isaac is a recently recognized (2021) target and has never been drilled tested.
2023 Hyperspectral Analysis & Results
During 2023, crushed coarse rejects from 2022 prospecting rock samples from the Pedlar and Hayes properties were analyzed with an ASD TerraSpec® 4 Hi-Res Mineral Spectrometer. Results were uploaded and processed using IMDEX’s aiSIRIS™ cloud-based mineral interpretation AI software to produce semi-quantitative, standardized mineral interpretations and analytics (see About Hyperspectral Analysis below).
The Hyperspectral analysis results for the prosecting rock samples show alteration mineralogy consistent with a porphyry deposit model.
A total of 17 prospecting rock samples were collected at the Bridget target and 19 samples at the Isaac target. Samples from both the Bridget and Isaac targets show anomalous trace element enrichments, including copper, molybdenum and silver, consistent with proximal porphyry copper-style mineralization. Hyperspectral data for the Isaac target samples provide evidence for phyllic alteration characterized by muscovite and potassic alteration, with evidence of propylitic alteration found only on the southern edge of the sampled area where significant chlorite is observed. The Bridget samples show no evidence of phyllic alteration, however most samples show both geochemical and hyperspectral evidence for widespread propylitic alteration involving epidote, chlorite and albite, as well as minor potassic alteration.
Next Steps
The Company is encouraged by the success of the IP test lines in detecting chargeability and resistivity anomalies beneath the soil geochemistry anomalies at the Bridget and Isaac targets at depths from 40m to 550m below surface. These results warrant full IP survey coverage over the target areas which will aid in identifying targets at depth in support of future diamond drill testing.
About the Bridget Target
The Bridget target area is located on the Pedlar property and was first explored by Silver Standard Mines Ltd. (“Silver Standard”) and Asarco Exploration Company of Canada Ltd. (“Asarco”) in the early 1970’s following the discovery of the Casino Copper-Gold-Molybdenum porphyry deposit. A series of regional silt samples, soil sampling, and geophysical surveys by Silver Standard in 1971 and 1972 led to the discovery of a significant molybdenum-copper geochemical anomaly, now known as the Bridget target. Historical exploration work between 2004 and 2016 included soil sampling, prospecting, geological mapping, and geophysical surveys. In 2016 the Company acquired ownership of the property and has continued to expand the large multi-element (molybdenum, copper, bismuth, tungsten, lead, silver) soil geochemical anomaly that currently measures 3 km NW-SE by 4.3 km NE-SW. In 2018, a maiden rotary air blast (RAB) drilling program comprising 10 holes totalling 548.6 m was completed; however, the RAB holes were short testing to a maximum vertical depth of only 70 m, well short of potential porphyry mineralization at depth beneath the anomalous soils. Porphyry targets characterized by IP chargeability high anomalies remain completely untested.
About the Isaac Target
The Isaac target is located on the Hayes property and was first recognized by the Company as a prospective porphyry target in 2021 through soil sampling. Gridded soil sampling (50 m spaced samples on 100 m spaced survey lines) was conducted in an area located approximately 5 km south of the Yukon River where a 2017 reconnaissance soil survey identified several isolated anomalous ridge and spur soil samples. The 2021 sampling identified a new geochemically zoned multi-element soil anomaly named the Isaac target, which measures approximately 2 km east-west by 1.5 km north-south. The anomaly has a central core measuring from 750 m to 1,000 m in diameter and enriched in bismuth and arsenic, which is surrounded by a halo of anomalous silver, lead and zinc that is greater than 400 m wide. Anomalous copper occurs in the southern portion of the core, and a relatively small area of anomalous molybdenum occurs near the core’s northern margin. Geologically the soil anomaly is associated with a plug of Late Cretaceous Prospector Mountain suite, which is known to be prospective for porphyry copper-gold-molybdenum and epithermal style mineralization. The geochemical zonation and elemental distributions indicate that the anomaly may represent the surface expression of a copper-molybdenum porphyry core surrounded by distal or epithermal style silver-lead-zinc mineralization. Follow-up geological mapping and prospecting in 2022 at the Isaac target area returned anomalous copper values from the core area of the soil anomaly, with three grab samples returning from 730.6 – 1269.2 ppm Copper.
About Hyperspectral Analysis
Crushed coarse rejects from 2022 prospecting rock samples were analyzed with an ASD TerraSpec® 4 Hi-Res Mineral Spectrometer by Bureau Veritas Commodities Canada Ltd. at their preparation laboratory in Whitehorse, Yukon. Results were uploaded and processed using IMDEX’s aiSIRIS™ cloud-based mineral interpretation AI software to produce semi-quantitative, standardized mineral interpretations and analytics. TerraSpec and aiSIRIS data were reviewed and interpreted by Dr. Dennis Arne, a principal consulting geochemist with Telemark Geosciences Pty Ltd, a geological consulting services company based in Victoria, Australia.
About IP Survey
The 2023 IP surveys were completed by Simcoe Geoscience Limited (Simcoe) using their wireless time domain 2D Alpha IP™ system (https://www.simcoegeoscience.com/wireless-alpha-ip). Survey data was recorded in a Reverse & Forward array configuration with readings taken every 100 m along the line. A dipole-dipole configuration was used at the Bridget target, and a dipole-pole-dipole configuration at the Isaac target. Once the IP data satisfied the QA/QC process, the entire survey line file was exported into UBC format to run the model 2D inversions. Results were reviewed, interpreted and chargeability anomalies ranked by Simcoe’s in-house geophysicist.
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 over 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 1.0 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+.
(5) See Minto Metals Corp. technical report titled “Form 43-101F1 Preliminary Economic Assessment Technical Report, Minto, Yukon Canada”, Effective Date March 31, 2021, Report Date May 7, 2021, prepared by Dino Pilotto, P.Eng., Tysen Hantelmann, P. Eng., Mike Levy, P.E., Sue Bird, P. Eng., Carl Schulze, P. Geo., Tad Crowie, P. Eng., Cheibany Elemine, Ph. D., P. Geo., Sam Amiralaei, P. Eng., John Kurylo, P. Eng., available on SEDAR.
(6) See Granite Creek Copper Ltd. technical report titled “Updated Mineral Resource Estimates for the Carmacks Cu-Au-Ag Project Near Carmacks, Yukon, Canada”, Effective Date February 25, 2022, Report Date April 29, 2022, prepared by Allan Armitage, Ph. D., P. Geo., available on SEDAR.
(7) Allan, M.M., Mortensen, J.K., Hart, C.J.R., Bailey, L.A., Sánchez, M.G., Ciolkiewicz, W., McKenzie, G.G. and Creaser, R.A., 2013, Magmatic and Metallogenic Framework of West-Central Yukon and Eastern Alaska: Society of Economic Geologists, Special Publication 17, pp. 111-168.
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
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3565ebca-7da2-4641-903a-09b492f865d7https://www.globenewswire.com/NewsRoom/AttachmentNg/277ca605-08b7-4985-9f92-6b56ba50d2a7https://www.globenewswire.com/NewsRoom/AttachmentNg/764bdd43-765e-4324-a6d6-055e640131bdhttps://www.globenewswire.com/NewsRoom/AttachmentNg/3b94a896-9b97-4295-942e-3bb9a7242a6bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/1abaa590-d02b-480e-b1e5-c8c88bdc29e3https://www.globenewswire.com/NewsRoom/AttachmentNg/17575276-737d-4098-a44f-bee919f5abaehttps://www.globenewswire.com/NewsRoom/AttachmentNg/e6499d90-5842-4522-8ae6-79aa6433c5abhttps://www.globenewswire.com/NewsRoom/AttachmentNg/9162969d-ab75-4a3d-8e12-37e46e9fb709
WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS
https://www.newswire.ca/news-releases/western-copper-and-gold-announces-metallurgical-program-and-associated-drill-results-864276919.html
Western Copper and Gold Corporation Mar 27, 2024, 06:30 ET
VANCOUVER, BC, March 27, 2024 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN)
Silver North Outlines 2024 Tim Silver Property Drilling Program
https://thenewswire.com/press-releases/1kx7F3D1v-silver-north-outlines-2024-tim-silver-property-drilling-program.html
Vancouver, BC / TheNewswire / March 27, 2024 – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to announce plans for the 2024 drilling program at the Tim Property, under option to Coeur Mining, Inc. (“Coeur” NYSE-CDE). Coeur intends to commence exploration on the property in June, and plans to complete approximately 2,000 metres of drilling targeting silver-lead-zinc Carbonate Replacement Deposit (“CRD”) mineralization similar to that found at Coeur’s Silvertip Mine Property, 19 km to the south of Tim.
Rob Duncan, VP Exploration for Silver North states, “We are excited to see drilling at Tim this year. Coeur has carried out an excellent program leading to this drill test. With their knowledge and experience exploring the CRD system(s) in the Silvertip district, we are able to leverage this expertise in our efforts to bring a new silver discovery to bear for our shareholders.”
Coeur is planning to commence the 2024 program in June, with the intention of completing drilling, geochemical sampling and drill pad and access development, with crews operating out of the Silvertip Mine Camp. Approximately 2,000 metres of drilling is planned from up to six drill pads, testing the potential for CRD-style mineralization along almost 2,000 metres of strike length of prospective stratigraphy. Previous work has identified silver mineralization in trenches dating back to the 1980s. A 2022 program conducted by Coeur to verify previous trench sampling returned 468.1 g/t silver, 21.1% lead, and 0.3% zinc over 4.0 metres from one re-opened trench. Another, located approximately 200 metres along strike, returned 265.0 g/t silver, 6.7% lead and 0.9% zinc over 8.8 metres. Silver North views the Tim as a high priority exploration target as it exhibits similar geological characteristics to Coeur’s Silvertip Project.
The 2024 program will be 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.
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.). Silver North also holds gold and base metal projects in Yukon Territory, Colorado and Nevada and is actively seeking partners for them. Silver North also plans to acquire additional silver properties in favourable jurisdictions.
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
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
Twitter: https://twitter.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
CANTEX RECEIVES EXCELLENT FIRST BULK GERMANIUM RESULTS FROM MAIN AND GZ ZONES AT ITS 100% OWNED NORTH RACKLA PROJECT, YUKON
https://www.newswire.ca/news-releases/cantex-receives-excellent-first-bulk-germanium-results-from-main-and-gz-zones-at-its-100-owned-north-rackla-project-yukon-854330975.html
Cantex Mine Development Corp. Mar 14, 2024, 08:30 ET
KELOWNA, BC, March 14, 2024 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF)
Prospector Provides an Update on its 2024 Plans at the Gold-Silver-Copper Prospective ML Project, Yukon
https://www.newsfilecorp.com/release/200614
March 06, 2024 7:30 AM EST | Source: Prospector Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - March 6, 2024) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET
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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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