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White Gold Further Outlines Two Large Copper-Molybdenum Porphyry Targets in Close Proximity to the Casino Copper-Gold Porphyry Deposit
https://finance.yahoo.com/news/white-gold-corp-further-outlines-110000888.html
White Gold Corp.
Wed, April 5, 2023 at 4:00 AM PDT·16 min read
Figure 1
Pedlar and Hayes properties
Figure 2
Dawson Range
Figure 3
Pedlar property
Figure 4
Hayes property
Photo 1
Calc-Silicate Skarn replacing calcite in marble unit, Bridget porphyry target, Pedlar property (Cooley, 2018)
Photo 2
Shreddy texture biotite, Bridget porphyry target, Pedlar property (Cooley, 2018)
Photo 3
Strong potassic alteration with multiple generations of quartz veinlets (left). Quartz-molybdenite veinlet cutting an earlier quartz veinlet (right) (Cooley, 2018)
TORONTO, April 05, 2023 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to provide an exploration update on two large copper-molybdenum porphyry targets on its Pedlar and Hayes properties situated in the southern portion of its 350,000 hectare land package, and located approximately 25 km northeast and 30 km east of Western Copper and Gold Corporation’s Casino copper-gold porphyry deposit respectively. The Casino deposit has Measured & Indicated Resources of 7.6 Blbs copper & 14.8 Moz gold and Inferred Resources of 3.1 Blb copper & 6.3 Moz gold(4) and is contiguous to the Company’s Betty property (see Figure 1). The Company is primarily targeting similar Casino-style porphyry mineralization on these early-stage projects. These results form part of the Company’s 2022 $6 million exploration program on its extensive and underexplored land package in the emerging White Gold District, Yukon, supported by strategic partners including Agnico Eagle Mines Limited and Kinross Gold Corporation.
Terry Brace, VP Exploration stated, “Our primary exploration focus is discovering new orogenic gold deposits in the White Gold District and growing our existing gold resources. However, the Yukon is rich in various other metals which is also the case in our large land package. The Bridget porphyry target on the Pedlar property has been known for decades but has seen minimal exploration and no diamond drilling. The Hayes is a recently identified porphyry target and has seen only soil sampling and limited mapping and prospecting. The soil geochemistry anomalies at both targets have the earmarks of large porphyry systems, with apparent mineralization footprints in the order of several kilometres each, which in combination to their proximity to the Casino deposit, make them very compelling targets warranting further exploration work.”
“The Yukon is an area with vast mineral potential that remains largely underexplored. The recent investment in the Yukon, and in particular the White Gold District by numerous major mining companies further enhances our belief in the robust mineral potential. White Gold’s large land package and unique exploration methodologies, which have led to several significant high grade gold discoveries already, represents a truly unique district scale opportunity in a premier underexplored district in a tier 1 mining jurisdiction,” stated David D’Onofrio, CEO of the Company.
Maps and photos accompanying this news release can be found at https://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights
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. Rock grab samples collected on the Pedlar property in 2022 included copper-gold-silver values up to 1425 ppm Cu, 0.421 g/t Au and 5.588 g/t Ag which were returned from a sample located approximately 3 km east of the main Bridget target suggesting the potential for further expansion of the already large footprint.
The Hayes soil anomaly is a newly 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-molybdenum core and a silver-zinc-lead halo. Rock grab samples collected at the Hayes target included 730.6 – 1269.2 ppm Cu.
The results on both targets and their proximity to other porphyry deposits validate their porphyry potential and warrants additional exploration, including induced polarization – resistivity surveys and initial diamond drilling to further evaluate their potential.
The Company also continues to work on its updated mineral resource estimate to incorporate the results from drilling at the Ryan’s Surprise target into its flagship Golden Saddle, Arc & VG gold deposits and aims to release the update in the near term.
Details of the Company’s fully funded 2023 exploration program focused on new discovery follow-up, target evaluation and continued regional exploration to be announced in the coming weeks.
Overview
The Bridget and recently identified Hayes soil geochemical anomalies represent highly prospective early-stage porphyry targets in an area with several significant existing porphyry deposits that warrant additional exploration. The Company’s immediate goal is to develop a better understanding of the alteration and mineralization system at the targets, followed by diamond drill testing as warranted. Induced polarization – resistivity surveys are required to better define the character of the targets at depth. Additionally, the geochemistry of surface rock samples which were collected during the 2022 field season will be examined in detail, and the samples will be scanned with an ASD Terraspec mineral analyzer to aid in identifying associated alteration mineral assemblages.
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) (Minto Metals Corp.), 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 Cu-Au-Ag 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.
Pedlar Property
The Pedlar property 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 porphyry deposit located 25 km to the southwest. A series of regional silt samples, soil sampling, and geophysical programs by Silver Standard in 1971 and 1972 led to the discovery of a significant Copper-Molybdenum geochemical anomaly, now known as the Bridget target. Since its initial discovery, the Bridget target has seen intermittent exploration by various operators, including Shawn Ryan and Ethos Gold Corp. (now Prospector Metals Corp.). The limited exploration to date has continued to expand the anomaly’s known footprint measuring 3 km NW-SE by 3.5 km NE-SW through soil geochemical sampling (Figure 3), prospecting, mapping, and geophysical surveys. In 2016 White Gold Corp. acquired ownership of the property and has continued to advance the project through soil sampling, geological mapping and prospecting, and in 2018 rotary air blast (RAB) drilling (10 holes totalling 548.6 m). The RAB holes were short testing to a maximum vertical depth of only 70 m. Hole PEDBRGRAB18-009 intersected two narrow intervals of molybdenum mineralization including 622.3 ppm Mo over 1.5 m from 12.2 m, and 631.9 ppm Mo over 1.5 m from 30.5 m.
Geological and structural mapping at the Bridget target in 2018 by consulting structural geologist Dr. Michael Cooley indicates that the bedrock geology is characterized by WNW-ESE trending units. Hornblende gneiss dominates in the northern part of the area, with a narrow (300 m) zone of felsic gneiss at the center, and metasedimentary schist and gneiss in the southern half of the area that includes a distinctive megacrystic kyanite-andalusite bearing unit and marble units that are largely altered to calc-silicate skarn (Photo 1). At least two distinct generations of felsic dykes and sills that strike northwest-southeast to east-west were recognized: 1) quartz eye granite dykes/sills; and 2) aplite dykes/sills. Field evidence for a porphyry mineralization model includes shreddy biotite (Photo 2), local occurrences of magnetite alteration, and potassic alteration where molybdenite was observed in quartz veinlets in float (Photo 3).
Analytical results for rock grab samples collected during the 2022 mapping and prospecting program at the Bridget target were generally consistent with the chemical zonation displayed in the soil geochemistry and complimented historical results on the property. The highest copper-gold-silver values (1425 ppm Cu, 0.421 g/t Au, 5.588 g/t Ag) were returned from a sample located approximately 3 km east of the main Bridget target along a series of previously unmapped ridge and spur soil samples (13 samples, 600m long, Cu values up to 465.5 ppm Cu) suggesting the potential for the further expansion of the already large footprint (see Figure 3).
Additional field work on the Pedlar property in 2022 approximately 15 km from the main Bridget target consisted of a soil geochemistry survey in the southeastern portion of the property and mapping and prospecting primarily in the Bridget target area. The soil survey was designed to follow up on previous reconnaissance ridge and spur soil sampling to identify new targets on the Pedlar property and comprised a total of 452 soil samples which were collected at 50 m sample intervals on 100 m spaced survey lines. The soil grid covered an area measuring 2 km southeast-northwest by 1 km northeast-southwest over an area underlain by Minto suite intrusive rocks which are prospective for copper-gold-silver porphyry mineralization. The soil survey did not identify additional significant copper-gold-silver anomalies in this area of the property.
Hayes Property
A soil geochemistry survey in 2021 identified a new multi-element anomaly in the north-central part of the Hayes property located approximately 5 km south of the Yukon River (see Figure 4 and Company News Release dated April 21, 2022). During the 2022 field season additional soil sampling was carried out to extend coverage peripheral to the anomaly and extending several kilometres to the northwest to cover similar prospective geology.
The known soil anomaly measures approximately 2 km east-west by 1.5 km north-south and forms a broad geochemically zoned multi-element soil anomaly with 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 epithermal style silver-lead-zinc mineralization.
Follow-up geological mapping and prospecting in the Hayes soil anomaly area has returned anomalous copper values from the core area of the soil anomaly, with three grab samples returning from 730.6 – 1269.2 ppm Cu (see Figure 4).
The Prospector Mountain suite plug and associated Hayes soil anomaly are located in the hanging wall of the Yukon River Thrust that thrusts rocks of the Simpson Range suite over Snowcap assemblage. The anomaly appears to be confined to a single fault block between two major WNW-ESE trending faults and two NW-SE trending second order faults. The WNW-ESE faults are subparallel to the Yukon River Thrust and Pyroxenite Fault located 4.5 km and 1.5 km south respectively of the anomaly. The Company considers the close proximity of the Hayes target to a possible crustal scale fault as favourable for the development of hydrothermal and mineralizing systems.
Sampling Methods and Analysis
Soil Samples
All 2022 soil geochemistry surveys were contracted to GroundTruth Exploration Inc. of Dawson City, Yukon. Field technicians navigated to pre-planned sample sites using handheld GPS units and collected C-Horizon soil samples using an Eijklcamp brand hand auger at a depth of between 20 cm and 110 cm. Typically, 400 to 500 g of soil is placed in a pre-labeled bag, and a field duplicate sample is taken once every 25 samples. The GPS location of the sample site is recorded with the GPS unit, and the waypoint location is labeled with the project name and the sample identification number. A weather-proof handheld device equipped with a barcode scanner is used in the field to record the descriptive attributes of the sample collected, including sample identification number, soil colour, soil horizon, slope, sample depth, ground and tree vegetation, sample quality, and any other relevant information.
Analytical work for the 2022 soil geochemistry surveys was carried out at Bureau Veritas (BV) Canada, with preparation completed at their Whitehorse, YT facility and analysis at their hub laboratory located in North Vancouver, BC. All soil samples were assayed for gold and a 37 multi-element suite using 0.25g aqua-regia digestion and ICP-MS analysis (Code AQ201). BV is an ISO 9001:2008 accredited facility, certificate number FM63007.
Prospecting Rock Samples
All 2022 prospecting and mapping work was completed by White Gold Corp. field personnel. Geologists completed field mapping traverses over soil geochemical anomalies to locate, identify, and characterize the source of the targeted anomalies. Structural measurements were collected using a structural mapping compass, with field notes collected and recorded in a handheld digital logging device. Rock samples selected for assay were placed in a poly sample bag with its corresponding sample tag and then sealed shut. The GPS location of the sample site is recorded with a GPS unit, and the waypoint location is labeled with the project name and the sample identification number. The weather-proof handheld device equipped with a barcode scanner is used in the field to record the descriptive attributes of the sample. At the end of each day, all samples were transported back to a secure location, where they awaited transport to the laboratory.
Analytical work for all 2022 prospecting rock samples was performed by Bureau Veritas (BV) Canada, with preparation completed at their Whitehorse, YT facility and analysis at their hub laboratory located in North Vancouver, BC. All rock samples were prepared using the PRP70-250 package, where samples were weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Rock samples were analyzed in accordance with BV’s FA430 and MA250 packages, for both gold analysis by fire assay (30g fire assay with AAS finish) and ultra-trace multi-element ICP analysis (0.25 g, 4 acid digestion and ICP-MS analysis). BV runs a comprehensive QA/QC program of standards, duplicates, and blanks within each sample stream.
About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au(2). 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 Indicated Resources of 2.14 Moz at 1.23 g/t Au, and Inferred Resources of 0.23 Moz at 1.01 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 7.6 Blb Cu and 14.5 Moz Au and Inferred Resources of 3.3 Blb Cu and 6.6 Moz Au (4). For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, Effective Date May 15, 2020, Report Date July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR.
(2) See White Gold Corp. technical report titled “Technical Report for the QV Project, Yukon, Canada”, Effective Date October 15, 2021, Report Date November 15, 2021, available on SEDAR.
(3) See Newmont Corporation news release titled “Newmont Announces Increased 2022 Mineral Reserves of 96 Million Gold Ounces and 68 Million Gold Equivalent Ounces”, dated February 23, 2023: https://www.newmont.com/investors/news-release/default.aspx.
(4) 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, 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
To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/
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Photo 1
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Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f5ca727-3dcb-4c48-bc6d-015f52ba7800
https://www.globenewswire.com/NewsRoom/AttachmentNg/1e758d94-7934-4686-ba59-5061431c2b08
https://www.globenewswire.com/NewsRoom/AttachmentNg/91ae544c-09de-4cd8-a03d-3ea404fccc58
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Stuhini Renews Option on Que Project
https://www.newswire.ca/news-releases/stuhini-renews-option-on-que-project-866060993.html
Stuhini Exploration Ltd. Mar 31, 2023, 18:26 ET
VANCOUVER, BC, March 31, 2023 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) (OTCPK: STXPF) announces that the Company has renewed its option on the Que Project. The Option Agreement was first announced on February 21, 2020 and amended and restated on October 26, 2020 whereby Stuhini can acquire a 100% interest in the road accessible Que Property (the "Property"), located in the Yukon, Canada approximately 70 kilometres from Johnson's Crossing (the "Option").
The agreement as amended provides for the payment of a total of 112,500 Shares of the Company to Optionors, as defined in the Option Agreement, on the Third Anniversary Date of the approval of the Option by the TSX-V. These shares are the only committed payment over the next 12 months. There are no work commitments. The balance of the share issuances and the cash payments are all at the Company's election should it wish to maintain the Option after April 2, 2024.
Dave O'Brien, Company President and CEO commented: "Given the notable molybdenum price uptick over the past 4 months, we are presently focused on the advancement of our Ruby Creek Molybdenum deposit, but we remain encouraged by the prospectivity of the Que Project and believe this is a notable asset within the Companies Project portfolio."
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties in western Canada and south-western USA. The Company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property located approximately 14 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property located approximately 57 km south of Revelstoke, British Columbia; and its portfolio of properties in south-east Arizona.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the maintenance and continuation of the Que Property Option Agreement, the Company's strategic plans and timing and expectations for the Company's exploration and drilling programs. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from sampling results, timing and amount of capital expenditures; and future exploration costs. The actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors including: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of sampling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Stuhini Exploration Ltd.
For further information: David O'Brien, President & Chief Executive Officer Stuhini Exploration Ltd., Email: dobrien@stuhini.com Phone: (604) 835-4019, Web: www.stuhini.com
Gladiator Metals Announces Additional High-Grade Copper Drill Intercepts
https://www.newsfilecorp.com/release/160995
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), a mineral exploration company focused on the advancement of multiple high-grade copper prospects in Canada's Whitehorse Copper Belt, is pleased to provide an update on ongoing data compilation of historic drilling for the high-grade, historically producing Whitehorse Copper Project.
Gladiator has continued to identify significant near-term shallow exploration targets outside of the historic areas of operation at the Whitehorse Copper Project, supported by the recent collation of historical drilling completed on the advanced Cowley Park prospect. Collation of the historic data has identified a further 53 drill holes to those previously reported by the Company, and the addition of further shallow, high-grade mineralized drill intercepts, including the following previously unreleased results:
CP-040: 89.61m @ 1.89% Cu from 26.21m
CP-018: 57.91m @ 1.27% Cu from 53.04m
CP-053: 27.7m @ 2.74% Cu from 8.69m
Inc: 7.83m @ 8.34% Cu from 23.93m
CP-081: 71.44m @ 1.10% Cu from 41.64m
Inc: 20.72m @ 2.64% Cu from 81.69m
CP-119: 36.27m @ 2.28% Cu from 72.24m
CP-122: 56.17m @ 1.61% Cu from 56.91m
Inc: 17.07m @ 2.25% Cu from 92.05m
CP-127: 62.48m @ 1.17% Cu from 59.74m
Inc: 3.05m @ 19.85% Cu from 102.72m
CP-011: 32.31m @ 1.16% Cu from 37.49m
CP-024: 44.19m @ 1.43% Cu from 51.82m
CP-028: 44.5m @ 1.18% Cu from 83.21m
CP-060: 28.2m @ 1.82% Cu from 23.62m
And 17.47m at 1.08% Cu from 60.41m
CP-063: 45.36m @ 1.26% Cu from 48.46m
CP-066: 40.27m @ 1.45% Cu from 23.62m
Inc: 15.55m @ 2.70% Cu from 23.62m
CP-088: 45.59m @ 1.10% Cu from 51.15m
CP-120: 33.34m @ 1.59% Cu from 72.12m
Mineralization at Cowley remains open at depth and along strike (with mineralization drilled to date to a maximum of 150m vertical depth only).
Compiled historical drilling was generally limited to selective sampling and assaying for copper only. Gladiator intends to assay all future drilling and sampling for additional credits including Molybdenum, Silver and Gold which were proven contributors to the economics of historic operations.
The Whitehorse Copper Project includes 30 known prospects within a 35km x 5km area, with shallow, high grade copper drill results reported from multiple prospects.
The project has undergone limited systematic drilling external to historic mining activity (open cut pits and underground mine stopes) and near surface residual historic reserves, that remain open along strike, down dip, and in-between known copper occurrences.
Cowley Park
The Company recently completed collating historic drilling at the Cowley Park Prospect, compiling 219 holes for approximately 24,500 meters of previous drilling, including a further 53 drill holes that were previously unreported.
The collation of drilling has identified high-grade copper skarn mineralization that has now been traced over more than 700m strike (Figure 1) in historical drilling. Mineralization remains open in all directions with the most southeasterly hole, 19-CP-08 intersecting 43.28m @ 2.24% Cu from 93.27m, the most northwesterly hole, CP-053 intersecting 27.70m @ 2.74% Cu from 33.98m and the most easterly hole intersecting 3.05m @ 2.12% Cu from 68.88m and 10.37m @ 1.95% Cu from 119.63m (Figure 1).
Mineralization at Cowley Park is interpreted to consist of multiple bodies, dipping shallowly to the south-west, with identified mineralization in historic drilling remaining open at depth with the deepest intervals drilled to date being 13.84m @ 1.26% Cu from 130.64m (18-CP-03) remaining open at depth (please refer to Figure 1 below for details).
Figure 1: Plan map of the advanced Cowley Park Copper Prospect. Recently collated historical drill results with a cumulative Copper%*m of >40 highlighted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/160995_b0e50f94c46cb80c_002full.jpg
The following results provide further detail on the drill results at Cowley Park illustrated in Figure 1 above Cowley Park, identifying significant "downhole mineralization", that has not been previously reported by Company, and help to illustrate the shallow nature of the historical drilling that has been completed to date:
CP-003: 16.76m @ 2.27% Cu from Surface
CP-005: 9.14m @ 3.41% Cu from Surface and 7.62m @ 1.66% Cu from 21.34m to EOH
CP-011: 32.31m @ 1.16% Cu from 37.49m
CP-016: 32.92m @ 1.49% Cu from Surface, Including 14.51m @ 2.4% Cu from Surface
CP-018: 57.91m @ 1.27% Cu from 53.04m
CP-019: 30.48m @ 1.07% Cu from 99.67m
CP-020: 32.31m @ 0.76% Cu from 161.54m
CP-023: 16.61m @ 1.49% Cu from 38.1m
CP-024: 44.19m @ 1.43% Cu from 97.54m, including 30.48m @ 1.85% Cu from 97.54m
CP-026: 41.76m @ 1.06% Cu from 95.4m
CP-028: 44.50m @ 1.18% Cu from 142.65m
CP-030: 38.41m @ 0.65% Cu from 137.16m
CP-034: 41.45m @ 0.89% Cu from 47.55m, Including 3.66m @ 1.14% Cu from 47.55m, 5.18m@ 1.18% Cu from 67.21m, 8.08m @ 1.18% Cu from 67.21m and 7.62m @ 1.32% Cu from 81.38m
CP-038: 31.7m @ 0.89% Cu from 93.88m, Including 10.67m @ 1.51% Cu from 93.88m
CP-039: 62.49m @ 0.65% Cu from 152.4m
CP-040: 89.61m @ 1.89% Cu from 26.21m
CP-042: 17.07m @ 1.41% Cu from 88.09m
CP-053: 27.7m @ 2.74% Cu from 8.69m, Including 7.83m @ 8.34% Cu from 23.93m
CP-059: 17.65m @1.15% Cu from 76.2m
CP-060: 28.2m @ 1.82% Cu from 23.62m and 17.47 @ 1.08% Cu from 60.41m
CP-061: 4.12m @ 4.63% Cu from 80.31m
CP-063: 45.36m @ 1.26% Cu from 48.46m
CP-064: 44.96m @ 0.52% Cu from 26.88m
CP-065: 34.35@ 0.87% Cu from 55.17m
CP-066: 40.27m 1.45% Cu from 23.62m, Including 15.55m @ 2.7% Cu from 23.62m
CP-068: 39.63m @ 0.7% Cu from 70.1m
CP-081: 71.44m @ 1.10% Cu from 41.64m, Including 20.72m @ 2.64% Cu from 81.69m
CP-084: 12.68m @ 1.57% Cu from 93.7m
CP-088: 45.59m@ 1.10% Cu from 51.15, Including 13.16m @ 2.76% Cu from 51.15
CP-097: 3.05m @ 2.12% Cu from 68.88m and 10.37m @ 1.95% Cu from 119.63m
CP-113: 19.72m @ 1.34% Cu from 62.48m
CP-114: 38.1m @ 0.6% Cu from 59.44m
CP-116: 21.64m @ 1.07% Cu from 75.29m
CP-117: 46.94m @ 0.68% Cu from 73.46m
CP-119: 36.27m @ 2.28% Cu from 72.24m
CP-120: 33.34m@ 1.59% Cu from 72.12m, including 22.86m @ 2.05% Cu from 82.6m
CP-122: 56.17m @ 1.61% Cu from 56.91m
CP-126: 2.72m @ 14.68% Cu from 71.29m
CP-127: 62.48m @ 1.17% Cu, Including 3.05m @ 19.85% Cu from 102.72m
CP-133: 2.9m @ 6.95% Cu from 67.51m
CP-140: 7.87m @ 3.85% cu from 36.33m and 1.34m @ 8.37% Cu from 62.67m
CP-142: 8.66m @ 2.33% Cu from 48.77m
LDN-2017 30.79m @ 1.01% Cu from 102.41m and 3.66m @ 2.41% Cu from 144.78m
LDN-2017B: 3.89m @ 7.78% Cu from 72.92m
LDN-2017C: 11.82m @ 1.46% Cu from 67.28m and 11.82m @ 1.46% Cu from 67.28m
18-CP-03: 10.36m @ 1.67% Cu from 83.21m, 21.03m @ 0.67% Cu from 101.19m and 13.84m @ 1.26% Cu from 130.64m, including 5.19m @ 2.78% Cu from 139.29m
18-CP-09: 6.71m @ 6.89% Cu from 26.82m and 5.49m @ 2.11% Cu from 54.86m
Figure 2: Type Drill Section of the advanced Cowley Park Copper Prospect. Recently collated historical drill results, section shows the widths and shallow nature of the mineralization drilled to date, (505,850mE)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/160995_b0e50f94c46cb80c_003full.jpg
Historically, much of the project area has been held by multiple parties before its consolidation into a coherent land package by the projects vendor, H. Coyne & Sons Ltd. As a result, exploration outside of historically producing areas has been sporadic and unfocussed to date, including the Cowley Park prospect.
At the Cowley Park prospect, diamond drilling was carried out in the late 1960s by New Imperial Mines Limited (NIM), with drilling loosely defining the main mineralized zone. More thorough drilling was conducted in the early 1970s by Whitehorse Copper Mines Ltd (WCM). Drilling completed by WCM, defined a shallow historical reserve prior to the implementation of National Instrument 43-101 that was never exploited before the closure of the Whitehorse Copper Mine. Further drilling was completed at Cowley Park by Yankee Hat Minerals Ltd (2008) Lobo Del Norte Ltd (2016-18) and H.Coyne & Sons Ltd. (2018-20).
Gladiator commenced consolidating the historic drilling at Cowley Park late last year, as part of an overall digital data consolidation of drilling and mining activity of the entire Project. This represents the first time a comprehensive review of regional datasets has been undertaken since the mine(s) closure in 1989.
The Cowley Park, compilation comprised entering and registering historic drilling from the original geological drill logs and assay data held by the Yukon Government Archives or reported in Assessment reports and/or excel spreadsheets completed by geologists from previous operators and H. Coyne & Sons Ltd. that were referenced in the report released by the Company on the 7th February, 2023 titled "NI 43-101 Technical Report on the Whitehorse Copper Project Yukon Territory".
This data was captured by Gladiator and recorded in digital format, validated, and loaded into an industry standard database for the first time. This work identified a large amount of drilling (219 holes), including the addition of 53 holes from archival geological drill logs.
Historic downhole drill hole intercepts at Cowley Park previously reported by Gladiator (refer to the Company's news release dated February 13, 2023) included:
CP-112: 54.25m @ 1.79% Cu from 41.76m, including 10.67m @ 6.93% Cu from 85.34m
CP-115: 20.73m @ 1.19% Cu from 47.85m and 32.62m @ 2.46% Cu from 80.77m
CP-125: 23.32m @ 3.53% cu from 51.51m, including 18.44m @ 4.42% Cu, from 56.39m downhole & 10.31m @ 1.41% Cu from 87.84m
CP-144: 53.38m @ 1.35% Cu from 19.17m, including 38.57m @ 1.73% Cu, 7.15 g/t Ag from 33.98m
18-CP-03: 10.36m @ 1.67% Cu from 83.21m, 21.03m @ 0.67% Cu from 101.19m, 13.84m @ 1.26% Cu from 130.64m
18-CP-06: 31.09m @ 1.27% Cu from 71.02m, including 23.04m @ 1.59% Cu, 10.28 g/t Ag from 74.98m
19-CP-08: 43.28m @ 2.24% Cu from 93.27m, including 40.54m @ 2.36% Cu & 4.75 g/t Ag from 95.1m, including 13.72m @ 5.41% Cu & 19.22 g/t Ag from 109.42 m
Holes were drilled at various dips on nominal grid with lines oriented ~011 degrees, with holes CP-001 -135 analyzed for predominantly Copper exclusively by the operators internal laboratory. A complete list of the complied holes, significant intercepts, and their details, including their drill collar location, direction of the hole (dip and azimuth) and hole depth can be found at:
https://docs.google.com/spreadsheets/d/1mn25VTZ5DSvCH-NfXUYRnCmB6WxwWVE5NVYMdYKd41U/edit#gid=1204953821
The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results do not conform to the presently accepted industry standards and practices.
Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling.
Exploration Update
The Company is carrying out a significant data compilation and review of the available historic drilling over the greater tenement package. Work completed 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 (refer to Figure 3 below).
Figure 3: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend (Quoted Historic Resources and Reserves after Tenny, D (1984) & Watson, P.H. (1984).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/160995_b0e50f94c46cb80c_004full.jpg
Reference to historic resources and reserves at the Whitehorse Copper Project are taken from publicly available reports mainly, The Whitehorse Copper Belt, Mining and Geology (1967-1980) prepared by Tenney, D in 1984 for the Department of Indian and Northern Affairs. Additional information was taken from the report by Watson, P.H, 1984 The Whitehorse Copper belt - A Compilation, prepared for the Yukon Geological Survey. These documents can be found at the following links:
https://data.geology.gov.yk.ca/Reference/42205#InfoTab
https://data.geology.gov.yk.ca/Reference/42011#InfoTab
The historical mineral resources discussed in this press release were calculated using mining industry standard practices for estimating Mineral Resource and Mineral Reserves prior to the implementation of the current CIM standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Ore Reserves dated May 10, 2014). The reader is cautioned not to treat them, or any part of them, as current mineral resources, or reserves. An independent Qualified Person ('QP'), has not done sufficient work to classify the estimate discussed as current mineral resources or reserves and therefore the estimate should be treated as historical in nature and not current mineral resources or mineral reserves. The historical resources have been included simply to demonstrate the mineral potential of the Whitehorse Copper Project. A thorough review of all historical data performed by a QP, along with additional exploration work to confirm results, would be required in order to produce a current mineral resource estimate for each of the key prospects. For greater certainty, the Company confirms that it does not have a current mineral resource on any part of its Whitehorse Copper Project.
Moving forward, the Company's initial exploration plan will focus on defining and extending mineralization at the Cowley Park Copper deposit, with diamond drilling scheduled to commence in April. Cowley Park had reached feasibility stage before operations were shut down in 1982. Identified mineralisation at Cowley remains open along strike and down dip. Prior to the recent collation of drilling completed by Gladiator, drilling has never been fully collated and displayed in modern three-dimensional mining related software.
Additionally, in the short term, Gladiator has commenced logging and sampling of approximately 10,000 meters of unassayed core from exploration drilling completed in recent years that is yet to be assayed and logged.
Gladiator's position is enhanced at Whitehorse, with the project having near year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the project's proximity to Whitehorse and a strong partnership with the owners of the Whitehorse Copper Project, an experienced local drilling service provider.
About 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 property comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) 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 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc. 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 skarn ore milled (Watson, 1984).
The Project is accessible through with 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.
In November 2022, Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project by incurring exploration expenditure of $12m on the project, staged payment of $300,000 in cash and the staged issue of 15m shares over 6 years. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" as defined by NI 43-101.
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.
Western Copper attracts Mitsubishi's backing for Yukon copper project
https://www.miningweekly.com/article/western-copper-attracts-mitsubishis-backing-for-yukon-copper-project-2023-03-27
27th March 2023
By: Mariaan Webb
Creamer Media Deputy Editor Online
Canadian firm Western Copper and Gold on Friday announced a strategic equity investment by Japanese group Mitsubishi Materials to advance the Casino project, in the Yukon Territory.
Casino is a copper, gold, molybdenum and silver deposit, about 300 km from Whitehorse. The company is currently preparing to re-enter the Yukon’s environmental assessment process for Casino.
A 2022 feasibility study confirmed the robust nature of the Casino project, which will require C$3.62-billion to build a mine that will operate for 27 years.
Rio Tinto is already a strategic investor in Western Copper. Under the Mitsubishi agreement, the Japanese firm will acquire shares representing 5% of Western's issued and outstanding shares, on an undiluted basis at C$2.63 a share.
The exact number of shares to be issued will depend on whether Rio Tinto Canada elects to exercise its pre-existing right to participate on a pro rata basis in equity financings to maintain its current ownership interest, which, based on public filings, was about 7.84%.
Assuming Rio Tinto elected to exercise its participation right in full, then Western will issue 8 091 390 shares to Mitsubishi for aggregate gross proceeds of C$21.3-million and 878 809 shares to Rio Tinto for aggregate gross proceeds of C$2.3-million.
"We are pleased to welcome Mitsubishi Materials as a strategic investor in the company," said Western president and CEO Paul West-Sells.
“The investment by Mitsubishi Materials is a strong endorsement of the Casino project. We look forward to working with Mitsubishi Materials to advance Casino."
Western remains the sole owner of the Casino project and will continue to be the operator.
The company will use the proceeds of the strategic investment to advance the project and to fund specific areas of study, developed with input from Mitsubishi, with the aim of progressing to a development phase for the Casino project.
Honey Badger Silver Updates Results from Its 100% Owned Groundhog Project, Yukon; Reports Assays over 2,400 g/t Ag
https://www.newsfilecorp.com/release/159484
Toronto, Ontario--(Newsfile Corp. - March 23, 2023) - Honey Badger Silver Inc. (TSXV: TUF)
MINTO METALS PROVIDES UPDATE ON SKAGWAY PORT DEVELOPMENTS
https://www.newswire.ca/news-releases/minto-metals-provides-update-on-skagway-port-developments-825562022.html
Minto Metals Corp. Mar 16, 2023, 08:00 ET
WHITEHORSE, YT, March 16, 2023 /CNW/ - Minto Metals Corp. ("Minto" or the "Company") today announced it will cease to ship its copper concentrate through the port of Skagway for at least the next two years, where concentrate from the Minto Mine has been shipped since 2008. Despite Minto's best efforts to reach a mutually beneficial agreement, the town of Skagway recently came to a decision to shift the focus of its port towards cruise ships and tourism. The Skagway Port Redevelopment project involves significant rework of the Ore Dock over a two-year duration. This work allows for the berthing of an additional cruise ship and revamps the industrial section which results in no ability to load ore until the project is completed.
Minto is currently in discussions with certain parties to explore other alternatives to shipping concentrate from Skagway. One option is the port at Stewart, BC which is a suitable alternative. The Company is also currently exploring other options and expects a new arrangement in place by July 2023 in time for our summer concentrate haulage period. The Skagway port could once again become an option in 2025 or 2026 after the redevelopment project is completed.
About Minto Metals Corp.
Minto operates the producing Minto mine located within the traditional territory of the Selkirk First Nation in the Minto Copper Belt of the Yukon. The Minto mine has been in operation since 2007 with underground mining commencing in 2014. Since 2007, approximately 500Mlbs of copper have been produced from the Minto mine. The current mine operations are based on underground mining, a process plant to produce high-grade copper, gold, and silver concentrate, and all supporting infrastructure associated with a remote location in Yukon. The Minto property is located west of the Yukon River, about 20 km WNW of Minto Landing, the latter on the east side of the river, and approximately 250 road-km north of the City of Whitehorse, the capital city of Yukon.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"), within the meaning of applicable Canadian securities laws and "forward-looking information" within the meaning of applicable U.S. securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions, or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements or assumptions in this press release include, but are not limited to: 2023 outlook guidance, including statements of anticipated production volume, cash costs, capital expenditures, exploration expenditure, mill production, the potential investment and development of the Water Treatment Plant, capital investment requirements and investor relations initiatives in 2023, receipt of Selkirk First Nation and regulatory approvals and permits, and statements with respect to achieving 2023 guidance for metal production.
Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: that financing will be available as required and permits will be obtained; more favourable commodity prices and exchange rates; interest rates; general economic conditions; no labour disputes or disruptions, no flooding, ground instability, geotechnical failure, fire, failure of the plant; that equipment and processes continue to operate as anticipated and other risks of the mining industry will not be encountered; that contracted parties provide goods or services in a timely manner; that there is no material adverse change in the price of copper, gold or other metals; competitive conditions in the mining industry; title to mineral properties; costs; taxes; the retention of the Company's key personnel; no changes in-laws, and no material worsening of the direct and indirect impact of COVID-19 including rules and regulations applicable to Minto.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual performance and results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the ability to obtain financing on acceptable terms and in a timely manner or at all; changes in commodity prices, general economic conditions, mineral reserve and mineral resource estimates may change and may prove to be inaccurate; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's outlook for 2023; Minto has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of copper, gold and silver; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the Company's operations and workforce are exposed to health and safety risks; the Company's title to exploration, development and mining interests can be uncertain and may be contested; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company may be subject to litigation; and those risk factors set out in the Company's annual information form dated March 31, 2022 for the year ended December 31, 2021 as filed on SEDAR. Although the Company has attempted to identify important factors that could cause actual performance, results, or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in or incorporated by reference in, this news release if these beliefs, estimates, and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Tania Barreto, CPIR
Director, Investor Relations
(604) 759 4666
E-mail: info@mintomine.com
SOURCE Minto Metals Corp.
Gladiator Metals Enters into Binding Drilling Contract
Drilling at the Advanced High-Grade Copper Cowley Park Prospect to Commence Mid-April 2023
https://www.newsfilecorp.com/release/158996
Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years of experience headquartered in Whitehorse, Yukon.
Gladiator has committed to drilling an initial ~3,000m of diamond core targeted at Cowley Park, a high-grade copper prospect area.
Gladiator is also establishing a core processing facility to log and process an estimated 10,000 metres of backlogged uncut core.
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2023) - GLADIATOR METALS CORP. (TSXV: GLAD) (OTC Pink: GDTRF) ("Gladiator" or the "Company"), a mineral exploration company focused on the advancement of multiple high-grade copper prospects in Canada's Whitehorse Copper Belt is pleased to report the Company has entered into a binding drilling contract to commence drilling at the advanced and high grade copper Cowley Park prospect from mid April, 2023.
Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years of experience who are headquartered in Whitehorse, YT.
Gladiator has committed to drilling an initial ~3,000m of diamond core targeted at Cowley Park, a high grade copper prospect area, to lay the foundations of establishing a future copper mineral resource. The 3000m drilling program will focus on confirming and extending mineralization at the Cowley Park prospect area.
Additionally, Gladiator is well advanced in establishing a core processing facility in Whitehorse to process and log drill core, including processing an estimated 10,000 metres of backlogged uncut core collected from previous drilling campaigns.
Gladiator has continued to identify significant near-term shallow exploration targets outside of the historic areas of operation at the Whitehorse Copper Project, supported by the ongoing collation of historical drilling data.
Exploration Update
The Company is currently undertaking a significant data compilation and review of the available historic data, including drilling over the greater tenement package. This work has identified a number of 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 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 (refer to Figure 1 below).
Gladiator's position is enhanced at Whitehorse, with the project having near year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the projects proximity to Whitehorse and a strong partnership with the owners of the Whitehorse Copper Project, an experienced local mining service provider.
Figure 1: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/158996_9ed508829437e9db_002full.jpg
Reference to historic resources on the Whitehorse Copper Project, refer to and are based solely on a report by Watson, P.H, 1984, entitled "The Whitehorse Copper belt - A Compilation, prepared for the Yukon Geological Survey" that can be accessed at https://data.geology.gov.yk.ca/Reference/42011#InfoTab.
The historical mineral resources discussed in this press release were calculated using mining industry standard practices of the applicable time period for estimating Mineral Resource and Mineral Reserves prior to the implementation of the current CIM Definition Standards for mineral resource estimation (as defined by the CIM Definition Standard on Mineral Resources and Mineral Reserves dated May 30, 2014). The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. An independent Qualified Person ('QP'), has not done sufficient work to classify the estimate discussed as current mineral resources or reserves and therefore the estimate should be treated as historical in nature and not current mineral resources or mineral reserves. The historical resources have been included simply to demonstrate the mineral potential of the Whitehorse Copper Project. A thorough review of all historical data performed by a QP, along with additional exploration work to confirm results, would be required in order to produce a current mineral resource estimate for each of the key prospects. For greater certainty, the Company confirms that it does not have a current mineral resource on any part of its Whitehorse Copper Project.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" as defined by NI 43-101.
Market Making and Investor Relations
The Company has retained Generation IACP Inc. ("IACP") to provide market making services in accordance with TSX Venture Exchange ("TSXV") policies. IACP is a company based in Toronto which is in the business of providing market making services to publicly listed companies. IACP will trade the securities of Gladiator on the TSX Venture Exchange for the purposes of maintaining an orderly market. In consideration of the services provided by IACP, Gladiator will pay IACP a monthly cash fee of CAD$7,500, for a minimum term of six months, for aggregate consideration of CAD$45,000, which will be paid from the Company's general working capital. The Company's engagement of IACP is renewable after the initial six month term. Gladiator and IACP are unrelated and unaffiliated entities. IACP will not receive shares or options as compensation. IACP does not have any interest, direct or indirect, in the Company or its securities nor does it have any right or intent to acquire such an interest; however, IACP and its clients may acquire a direct or indirect interest in the securities of the Company from time to time. The capital used for market making will be provided by IACP. IACP is a registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSXV and the Canadian Securities Exchange, and is a Participating Organization as such term is defined in the rules and policies of the Toronto Stock Exchange.
The Company has entered into a consulting agreement with GRA Enterprises LLC ("GRA"), a United States based investor communication and media services provider, pursuant to which GRA will provide the Company with investor relations services. The consulting agreement has a term of twelve (12) months, unless terminated earlier in accordance with its terms. The investor relations services provided by GRA will be in consulting with the Company's management in building investor awareness of the Company through GRA's network in North America. As consideration for the provision of the investor relations services and in accordance with the terms and provisions of the consulting agreement, the Company will pay GRA a fee of US$100,000, which is payable at the beginning of the twelve month term and will be paid from the Company's general working capital. GRA and its' principal are arm's length from the Company and do not have any interest, direct or indirect, in the Company or its securities nor do they have any right or intent to acquire such an interest. The Company's engagement of GRA is subject to the acceptance of the TSXV.
The Company has entered into a consulting agreement with Marco Messina ("Messina"), a German based communications and media services provider, pursuant to which Messina will provide the Company with investor relations services. The consulting agreement has a term of nine (9) months, unless terminated earlier in accordance with its terms. The investor relations services provided by the Messina will be in consulting with the Company's management in building investor awareness of the Company through Messina's network in Europe. As consideration for the provision of the investor relations services and in accordance with the terms and provisions of the consulting agreement, the Company will pay Messina a fee of EUR100,000, which is payable at the beginning of the twelve month term and will be paid from the Company's general working capital. Messina is at arm's length from the Company and Messina does not have any interest, direct or indirect, in the Company or its securities nor does Messina have any right or intent to acquire such an interest. The Company's engagement of Messina is subject to the acceptance of the TSXV.
ABOUT GLADIATOR METALS CORP.
Gladiator Metals Corp. is a mineral exploration company focused on the advancement of multiple high-grade copper prospects at its Whitehorse Copper Project (the "Project") an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The Project comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) 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 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc. 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 skarn ore were milled (Watson, 1984).
Given the proximity to Whitehorse, the Project will benefit from all year access, excellent infrastructure (local Yukon miner Minto Metals currently export copper concentrate from nearby Skagway) and a strong relationship with local partners for drilling services and developing positive community relations. With global copper metal demand currently forecast to outstrip future supply due to the global government's coalition focus on developing electric vehicle and clean energy markets for Net Zero 2050, the Project provides excellent exposure to potential high grade significant copper resources in a stable tier 1 jurisdiction.
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.
Banyan Commences 2023 Exploration Program and Expands Technical Team, Aurmac Property, Yukon
https://www.accesswire.com/742064/Banyan-Commences-2023-Exploration-Program-and-Expands-Technical-Team-Aurmac-Property-Yukon
Monday, March 6, 2023 6:00 AM
VANCOUVER, BC / ACCESSWIRE / March 6, 2023 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF)
Transition Provides Update on Pike Warden Au-Ag-Cu Project, Yukon Highlights
Preliminary results from mineral cluster analysis study identify a large domain associated with the highest gold and silver concentrations, suggesting mineralizing system is large and spans the entire sampled area
Transition renews option agreement and prepares for 2023 work program
https://www.newsfilecorp.com/release/156929
Sudbury, Ontario--(Newsfile Corp. - March 2, 2023) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to provide an update on its Pike Warden Au-Ag-Cu Property located approximately 65 kilometres southwest of Whitehorse (Figure 1). In January, the Company disclosed results from the first ever program of drilling completed on the property which returned significant silver values (see Company release dated January 16th, 2023). The Company considers the Pike Warden project to be one of its key value creating projects for 2023.
Highlights of work currently in progress, and achievements of 2023 thus far, include significant progress with the initiation of a mineralogical study, data interpretation, magnetic modeling, exploration permitting, and logistical planning. Company representatives will be on hand at Booth #2126 in the Investors Exchange at the 2023 PDAC Mining Convention to be held from March 5-8, 2023 at the Metro Toronto Convention Centre (MTCC), Toronto, Canada.
Dr. Bill Pearson P.Geo., technical advisor to the Company, who recommended this approach for an early-stage assessment of the potential for a large mineralizing system at Pike Warden, stated that: "The initial results for the synchrotron work performed by LISA CAN are very encouraging as they suggest the numerous showings are part of a much larger mineralizing system and that the surface showings are likely nearer the top of the system. This approach was very helpful for the early-stage assessment at Eloro's Iska Iska silver-tin polymetallic project in Bolivia."
Exploration Plans for 2023
The Company intends to complete a program of work consisting of systematic prospecting, mapping, and hand trenching across the property to follow up on results acquired in 2022. This work aims to further define and discover additional structural trends, alteration footprints, and zones of mineralization, particularly in the underexplored northern claims which were not worked in 2022. In addition, an RC drill program is also being considered, to further evaluate the extent of mineralization at the ERT Zone and additional high-priority showings on the property.
Syncroton Mineral Study
Synchrotron mineral cluster analysis was performed on 57 pulp samples by Dr. Lisa Van Loon of LISACAN Analytical Solutions (LISACAN) and Dr. Neil Banerjee, P.Geo., of Western University's Department of Earth Sciences. The selected rock samples are a representative suite of lithologies proximal to the more than 18 sites of Au, Ag, Cu, Pb, and Zn mineralization identified to date across the approximately 10 kilometre wide property. The synchrotron is a type of circular particle accelerator that is an extremely powerful source of broad-spectrum electromagnetic radiation (e.g., visible light, infrared, UV, & X-rays), approximately 10 billion times brighter than the sun. Synchrotron radiation powder X-ray diffraction (SR-pXRD) provides a rapid, high-resolution analytical technique for mineral exploration. Cluster analysis performed on the diffractograms generated by the synchrotron is then can be used to highlight mineralogical similarities between samples that may be associated with a large mineralizing system.
The study identified seven (7) mineralogical domains. Domain 1 is the largest and includes 47 samples (82 %). This domain is associated with the highest gold and silver concentrations, suggesting that the mineralizing system is large and spans the entire sampled area. Domain 1 can be further sub-divided into 2 sub-domains (1A: 30 samples & 1B:17 samples ). Samples within Domain 1A span the entire sampled area. Samples within Domain 1B trend in a NNE-SSW direction. The study suggests that samples from Domains 1A and 1B represent the greatest mineralizing potential on the property. Work associated with this study remains ongoing towards better understanding the detailed mineralogy associated within the identified domains.
Magnetic Data Modeling and Review
The Company has initiated work to account for the topography and complete a detailed 3D magnetic inversion model of the property-scale, high resolution airborne magnetic data collected by the Optionor in 2021. The magnetic products and historical data will aid Company geologists in developing a 3-D geological model.
Option Agreement
In June 2022, Transition Metals Corp. entered into an option 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 press release dated June 28th, 2022). Pursuant to the terms this agreement, the Company has provided notice of its intent to maintain the option by providing a Y1 cash payment of $30,000 and 200,000 common shares to the Optionor, and has confirmed that it has made the appropriate expenditures and governmental filings to maintain the option in good standing until March 1, 2024. The project has qualified for, and the Company has been approved to receive a funding grant of $50,000 associated with the Yukon Mineral Exploration Program (YMEP) for the completion of work completed in 2022. The company would like to thank the Yukon Government for their support through this program.
About the Pike Warden Property
The Pike Warden property is located approximately 65 kilometres southwest of Whitehorse, Yukon, and is composed of 185 contiguous mining claims totaling approximately 37 km². The property encompasses a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are potentially indicative of a large epithermal-porphyry system in the vicinity of the Bennett Lake Volcanic Complex. In June 2022, Transition Metals Corp. entered into an option to acquire a 100% interest in the property from the Vendor in exchange for cash shares and work expenditures over a four-year period (please refer to news release dated June 8, 2022).
Qualified Person
The technical elements of this press release have been approved by Mr. Greg Collins, P.Geo. (PGO), who is a Qualified Person as defined under National Instrument 43-101.
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.
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.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
Figure 1: Geology and location of the Pike Warden Property and outline of the Bennett Lake Caldera Complex
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/156929_309790d654ac993d_002full.jpg
Snowline Gold Intersects 161.0 M of 1.1 Grams Per Tonne Gold at its Valley Discovery and Confirms a Second Reduced Intrusion-Related Gold System at its Rogue Project, Yukon
https://www.accesswire.com/742390/Snowline-Gold-Intersects-1610-M-of-11-Grams-Per-Tonne-Gold-at-its-Valley-Discovery-and-Confirms-a-Second-Reduced-Intrusion-Related-Gold-System-at-its-Rogue-Project-Yukon
Tuesday, March 7, 2023 7:00 AM
Hole V-22-030 returned 1.06 g/t Au over 161.0 m within broader 282.5 m mineralized interval averaging 0.73 g/t Au, adding width to southeast extension of near-surface, well mineralized corridor at Valley
Hole ends in mineralization, with final 66.0 m of hole averaging 1.46 g/t Au and final 21.0 m averaging 1.93 g/t Au
Localized gold intersections at Gracie target (4 km east of Valley) confirm a second reduced-intrusion gold system to be targeted in phase 2 drilling in 2023.
VANCOUVER, BC / ACCESSWIRE / March 7, 2023 / SNOWLINE GOLD CORP. (CSE:SGD)(OTCQB:SNWGF)
Fireweed Drills High-Grade at Tom: 40.6 m True Width of 15.2% Zinc, 14.6% Lead, and 181.6 g/t Silver, Including 20.9 m of 20.7% Zinc, 22.4% Lead, and 280.0 g/t Silver
https://fireweedmetals.com/news/fireweed-drills-high-grade-at-tom-40-6-m-true-width-of-15-2-zinc-14-6-lead-and-181-6-g-t-silver-including-20-9-m-of-20-7-zinc-22-4-lead-and-280-0-g-t-silver/
March 6, 2023
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF,
Minto Metals Reports New Lens Discovery at Minto East in Multiple Holes Highlighted by 5.53% Copper Over 8.66 Metres
https://www.newswire.ca/news-releases/minto-metals-reports-new-lens-discovery-at-minto-east-in-multiple-holes-highlighted-by-5-53-copper-over-8-66-metres-829637638.html
Minto Metals Corp. Feb 28, 2023, 06:30 ET
Minto Metals Reports Copper Production of 28.9 Million Pounds for 2022, Provides Production Guidance for 2023 and Announces Changes to Board of Directors
https://www.newswire.ca/news-releases/minto-metals-reports-copper-production-of-28-9-million-pounds-for-2022-provides-production-guidance-for-2023-and-announces-changes-to-board-of-directors-837541559.html
Minto Metals Corp. Feb 23, 2023, 06:30 ET
WHITEHORSE, YT, Feb. 23, 2023 /CNW/ - Minto Metals Corp.
Fireweed Drills 298 m of 4.5% Zinc, 1.4% Lead and 30.9 g/t Silver Including a new zone of 24.5% Zinc, 15.1% Lead and 323.2 g/t Silver over 9.6 m
https://ca.finance.yahoo.com/news/fireweed-drills-298-m-4-133000130.html
Fireweed Metals Corp.
Thu, March 2, 2023 at 5:30 a.m. PS
Idaho Champion to Acquire Property Package Adjacent to Existing Lithium Pegmatite Claims 412 Km2 Now Controlled in the Lithium-rich James Bay Region
https://www.newsfilecorp.com/release/156878
Toronto, Ontario--(Newsfile Corp. - March 2, 2023) - Idaho Champion (CSE: ITKO) (OTCQB: GLDRF) (FSE: 1QB1) ("Idaho Champion" or the "Company") is pleased to announce that the Company signed a Binding Letter of Intent (the "LOI" or "Acquisition") to acquire 266 claims located in the pegmatite-rich Eeyou Istchee James Bay territory of Quebec.
The newly acquired claims are directly adjacent and north of the Company's existing property package including the recently acquired contiguous ground ("CE Lithium Claims"). Idaho Champion now controls 412 km2 in the Lithium-Rich James Bay region* (See Figure 1).
"Idaho Champion is well positioned to make an impact within La Grande Greenstone belt, rich in lithium pegmatites. Our newly acquired ground gives us great discovery potential with properties located around excellent infrastructure. We are fortunate to have a great relationship with the private vendors that we have transacted with, and we welcome them as shareholders of the company," commented Jonathan Buick, President and CEO.
Figure 1: Champion Electric Lithium Project Area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8681/156878_f46456169435aa87_001full.jpg
As part of the LOI, Idaho Champion will acquire 266 claims for cash consideration of $70,000, 3,500,000 common shares of the Company, and 1,500,000 warrants priced at CAD$0.15 for two years from the date of signing of the Definitive Purchase and Sale Agreement and claims transfer. The common share consideration included in the LOI will incorporate a voluntary escrow of 12 months from the date of issuance. An additional 500,000 common shares will be issued as a "bonus" if/when lithium spodumene is discovered within 5km of three claims boundaries that are part of the transaction. Additionally, the Vendors will retain a 2% net smelter royalty ("NSR"). The Company has the option to repurchase 1% of the NSR from the Vendors for $1 million.
* The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing lithium resources offers no assurance that the rock types or lithium resources reported by Patriot and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
Qualified Person
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved the technical information in this news release.
About Idaho Champion Gold Mines Inc.
Idaho Champion is a discovery-focused exploration company that is committed to advancing its highly prospective cobalt properties located in Idaho, United States and lithium properties in Quebec, Canada. In addition, the Company owns the Baner gold project in Idaho County and the Champagne polymetallic project in Butte County near Arco.
The Company's shares trade on the CSE under the trading symbol "ITKO", on the OTCQB under the trading symbol "GLDRF", and on the Frankfurt Stock Exchange under the symbol "1QB1". Idaho Champion strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF IDAHO CHAMPION
"Jonathan Buick"
Jonathan Buick, President and CEO
For further information, please visit the Company's SEDAR profile at www.sedar.com or the Company's corporate website at www.idahochamp.com.
For further information, please contact:
Nicholas Konkin, Marketing and Communications
Phone: (416) 567- 9087
Email: nkonkin@idahochamp.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including suggested strike extension. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Snowline Gold Intersects 558.7 m of 1.3 grams per tonne Gold from Surface Including 202.0 m of 2.0 grams per tonne Gold at Its Valley Discovery, Rogue Project, Yukon
https://www.accesswire.com/740633/Snowline-Gold-Intersects-5587-m-of-13-grams-per-tonne-Gold-from-Surface-Including-2020-m-of-20-grams-per-tonne-Gold-at-Its-Valley-Discovery-Rogue-Project-Yukon
Friday, February 24, 2023 7:00 AM
Fireweed Announces Signing of Definitive Agreement on Mactung Tungsten Project
https://ca.finance.yahoo.com/news/fireweed-announces-signing-definitive-agreement-133000028.html
Fireweed Metals Corp.
Tue, February 28, 2023 at 5:30 a.m. PST
Fireweed Drills 105 m of 8.4% Zinc and 12.1 g/t Silver Including 12.75 m of 24.9% Zinc and 41.7 g/t Silver
https://ca.finance.yahoo.com/news/fireweed-drills-105-m-8-133000764.html
Fireweed Metals Corp.
Mon, February 27, 2023 at 5:30 a.m.
Victoria Gold: 2022 Fourth Quarter & Full Year Results
https://ca.finance.yahoo.com/news/victoria-gold-2022-fourth-quarter-234200156.html
Victoria Gold Corp
Wed, February 22, 2023 at 3:42 p.m. PST·23 min read
TORONTO, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Fireweed Drills 56.5 m of 6.34% Zinc and 36.4 g/t Silver including 11.6 m of 10.9% Zinc and 43.5 g/t Silver
https://fireweedmetals.com/news/fireweed-drills-56-5-m-of-6-34-zinc-and-36-4-g-t-silver-including-11-6-m-of-10-9-zinc-and-43-5-g-t-silver/
February 15, 2023
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF,
Gladiator Metals Announces TSX-V Final Approval for Option Agreement and Officer Changes
https://www.newsfilecorp.com/release/154606
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2023) - Gladiator Metals Corp. (TSXV: GLAD) ("Gladiator" or the "Company") is pleased to announce that, further to its news release on November 14, 2022, it has received final approval from the TSX Venture Exchange (the "TSX-V") for the Mineral Property Option Agreement (the "Option Agreement") dated November 8, 2022 with H. Coyne & Sons Ltd. (the "Optionor") whereby the Optionor has granted the Company the right to acquire a 100% legal and beneficial interest in all of the Optionor's title and interest (the "Option") in and to 315 contiguous mineral claims located in the Yukon (the "Whitehorse Copper Project" or the "Project").
Trading of the Company's common shares will resume on February 15, 2023.
The Whitehorse Copper Project
Project Highlights:
High Grade historical copper production of >10Mt @ 1.5% Cu produced (plus Au/Ag credits) via open pit (1967-1971) and underground (1972-1982).
Whitehorse Copper Project includes 30 known prospects within a 35km x 5km area. Shallow, high grade copper results from multiple prospects. Limited systematic drilling away from existing pits. All previous operations and unmined prospects are all open along strike and down dip.
Approximately 10,000 metres of unassayed core from exploration drilling to be assayed and logged. Year-round access for work programs, good road and drill access network established, low-cost exploration due to proximity to Whitehorse and strong partnership with the Optionors, and an experienced local drilling service provider.
Significant future exploration potential with drilling outside of historic areas of operation including:
Cowley Park: Most advanced prospect area with near term resource potential. Mineralization open at depth and along strike (mineralization drilled to max 150m vertical depth only). Gladiator's initial focus will be on defining and extending mineralization at the Cowley Park Copper deposit through diamond drilling. Cowley Park had reached feasibility stage before operations in the belt were shut down in 1982 and remains open along strike and down dip.
Historic drill hole intercepts include:
CP-125: 18.44m @ 4.42% Cu, from 56.39m downhole and 1.41% Cu from 87.84m downhole
CP-144: 38.57m @ 1.73% Cu, 7.15 g/t Ag from 33.98m downhole
18-CP-03: 9.14m @ 2.0% Cu, 12.5 g/t Ag from 83.82m downhole
18-CP-06: 23.04m @ 1.59% Cu, 10.28 g/t Ag from 74.98m downhole
19-CP-08: 40.54m @ 2.36% Cu, 4.75.3 g/t Ag including 13.72m @ 5.41% Cu and 19.22g/t Ag from 109.42m downhole
Other prospects within the Project area, with historic drill hole intercepts, include:
War Eagle:
HT-1: 10.55m @ 4.99% Cu, 1.05g/t Au, 40.3g/t Ag from 124.39m.
North Star:
NS-15: 14.63m @ 4.95% Cu from 419.65m.
The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results may not all conform to the presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling.
The Company has filed a technical report for the Whitehorse Copper Project (the "Technical Report"). The Technical Report, entitled "NI 43-101 Technical Report on the Whitehorse Copper Project Yukon Territory" and dated effective November 23, 2022, was prepared for the Company by Derek Torgerson, P. Geo., of Summit Geosciences Ltd, a "qualified person," as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and independent of the Company for the purposes of NI 43-101. A copy of the Technical Report is available under the Company's SEDAR profile at www.sedar.com.
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 property comprises 315 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District. The Whitehorse Copper Project covers a significant portion of what has historically been known as the Whitehorse Copper Belt. Gladiator Metals Corp. has entered into a 6-year option agreement with H. Coyne and Sons Ltd. to earn a 100% interest in the Project.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it became to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc. 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 skarn ore were milled (Watson, 1984).
The Project is road accessible with numerous access roads 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 and provide excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.
The Whitehorse Copper Project is located within the traditional territory of the Kwanlin Dün and Ta'an Kwäch'än Council First Nations. Gladiator acknowledges and respects the traditional territory of the Kwanlin Dün and Ta'an Kwäch'än Council First Nations and is committed to developing a respectful relationship with them.
The intrusive rocks of the region are predominantly granodioritic to dioritic and Cretaceous in age (109 - 199 Ma). They are thought to form the upper reaches of a large batholith belonging to the Whitehorse Plutonic Suite and intrude primarily into Triassic to Jurassic Lewes River Group clastic and carbonate metasediments. Throughout the Whitehorse Copper Project, skarning occurs variably through limestone horizons and along the contacts with the intrusive rocks. Skarn deposits within the Whitehorse Copper Project are considered exoskarns that formed within 150 m of the mid Cretaceous calc-alkaline Whitehorse Batholith contact; however, a number of endoskarns are documented within the intrusion as well. Two main types of skarn deposits are observed. Iron-rich, in which copper occurs with magnetite, serpentine, specularite, talc, chlorite and occasional pyrrhotite and pyrite and Iron-poor (calc-silicate) where copper occurs with garnet, diopside, wolastonite, tremolite, epidote, chlorite, calcite and quartz. The copper minerals occur as grains, blebs, pods and stringers that appear to postdate the skarn minerals. Bornite is predominant in the iron-rich skarns and is slightly more abundant than chalcopyrite in the silicate skarns. Silver content is proportional to the copper grade but gold is more erratically distributed, being more abundant in the iron-rich skarn deposits.
The most recent work on the Project and Gladiator's initial focus is on defining and extending mineralization at the Cowley Park Copper deposit through diamond drilling. The recent drilling campaigns have returned drill core assay intervals consistent in grade with historical results. Cowley Park sits at the southern end of the Project and had reached feasibility stage before operations in the belt were shut down in 1982. Diamond drilling was carried out in the 1960's loosely defining the main zone mineralization and more thorough drilling was conducted in the early 1970's culminating in a total of ~125 holes and ~11,500 meters of core (Hureau, 1981).
Gladiator has recently compiled a digital database containing 475 dill holes within the current and historical project boundaries. Many of the drill holes are historical in nature and lack documented modern QA/QC methods, chain of custody documentation, proper GPS collar locations and down hole surveying and would not meet the standard for a current NI 43-101 resource estimate. The more recent drilling, from 2007 onward appears to have been conducted in a much more systematic manner but significant amounts of core is currently in storage and needs to be logged, sampled and assayed.
The Company is planning an initial work program which would include data compilation and digitization of the historical drill logs, geological mapping, surface geochemistry and geophysical surveys. Additionally, approximately 10,000 m of diamond drill core will be logged and assayed. A 250-line km ground-based magnetics survey should be conducted over the south-eastern portion of the Project where a 2014 airborne survey was not completed. Targets generated from this work will guide a follow up diamond drilling program.
Transaction Summary
Pursuant to the terms and conditions of the Option Agreement, the Optionor has granted the Company the right to acquire all of the Optionor's title and interest in and to 315 mineral claims located in the Yukon that constitute the Project. In order to exercise the Option the Company must over a six (6) year period:
(i) issue the Optionor an aggregate of 15,000,000 common shares in the capital of the Company;
(ii) pay the Optionor an aggregate of $300,000 in cash; and
(iii) incur an aggregate of $12,000,000 in exploration expenditures on the Project.
Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project. Certain mineral claims forming part of the Whitehorse Copper Project are also encumbered by pre-existing royalties which the Company shall be responsible for following the exercise of the Option.
The Company has also granted the Optionor: (i) a right of right of first refusal to undertake each exploration or development program on the Whitehorse Copper Project; (ii) the right to subscribe for and be issued as part of any public offering of the securities of the Company up to such number of securities that will allow the Optionor to maintain a percentage ownership interest of the common shares of the Company that is equal to the percentage of common shares that it then owns or controls of the total issued and outstanding common shares at such time; and (iii) the right to nominate one (1) director to the board of the directors of the Company, each for specified time periods as set forth in the Option Agreement.
All common shares issued in connection with the Option Agreement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.
Finder's Fees
In connection with the Option Agreement, the Company has entered into a finder's fee agreement pursuant to which the Company has agreed to issue a finder up to 1,362,500 Common Shares for introducing the Optionor to the Company.
Change in Officers
The Company announces that Ian Harris has resigned as Chief Executive Officer of the Company. Mr. Harris will continue as a member of the Company's board of directors. The Company would like to thank Mr. Harris for his service to the Company as Chief Executive Officer.
Jason Bontempo, a current director of the Company, has been appointed as Chief Executive Officer following Mr. Harris' resignation. Additionally, the Company has appointed Kell Ivar Nielsen as Vice President, Exploration, of the Company. The Company looks forward to continuing under the leadership of both Mr. Bontempo and Mr. Nielsen.
Investor Relations
The Company has entered into a consulting agreement (the "Consulting Agreement") with Zinger Ventures Inc. (the "Consultant"), based in Vancouver, British Columbia, pursuant to which the Consultant will provide the Company with investor relations services (the "Services"). The Consulting Agreement has an initial term of six (6) months, unless terminated earlier in accordance the Consulting Agreement, and which may be extended for ensuing one month terms by agreement in writing between the Consultant and the Company.
The Services provided by the Consultant will include, but not be limited to, consulting with the Company's management concerning marketing and investor relations services, building relationships with the Company's investors, and attending conferences while representing the Company.
As consideration for the provision of the Services and in accordance with the terms and provisions of the Consulting Agreement, the Company will (i) pay the Consultant a monthly fee of $5,000 plus GST, (ii) grant the Consultant 150,000 stock options (the "Options"), and (iii) reimburse the Consultant for pre-approved out of pocket expenses actually and properly incurred by the Consultant in connection with the Services. The Options will vest in stages over a 12 month period with 37,500 Options vesting every three months following the grant date.
The Consultant and its principal, Dustin Zinger, are arm's length from the Company and neither holds any securities of the Company nor has any interest, direct or indirect, in the Company.
The Company's engagement of the Consultant and the issuance of the Options are subject to the acceptance of the TSX-V.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" for the purposes of NI 43-101.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
Chief Executive Officer and Director
604-638-8063
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain 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.
Alpha Copper Hopper Project Receives 10-Year Exploration Permit
https://ca.finance.yahoo.com/news/alpha-copper-hopper-project-receives-140000508.html
Alpha Copper Corp.
Thu, February 9, 2023 at 6:00 a.m. PST
Snowline Gold Intersects 363.5 M Of 1.4 Grams Per Tonne Gold from Surface Including 129.9 M Of 2.0 Grams Per Tonne Gold at Its Valley Discovery, Rogue Project, Yukon
https://www.accesswire.com/737968/Snowline-Gold-Intersects-3635-M-Of-14-Grams-Per-Tonne-Gold-from-Surface-Including-1299-M-Of-20-Grams-Per-Tonne-Gold-at-Its-Valley-Discovery-Rogue-Project-Yukon
Friday, February 3, 2023 7:00 AM
Hole V-22-028 returned 1.40 g/t Au over 363.5 m from surface, including 2.03 g/t Au over 129.9 m and 2.15 g/t Au over 42.3 m from its Valley Zone
Additional results extend known strike length of potentially economic gold grades along mineralized corridor to 720 m (open) and delineate gold-bearing quartz vein arrays along relatively underexplored eastern boundary of the Valley intrusion
Assays still pending for 7 of 32 holes (3,474 m, or 26% of 13,320 m) drilled at Valley and Gracie in 2022.
VANCOUVER, BC / ACCESSWIRE / February 3, 2023 / SNOWLINE GOLD CORP. (CSE:SGD)(OTCQB:SNWGF)
Minto Metals Reports Multiple High-Grade Copper Intersections From Follow-up Drilling at Minto North Including 1.91% Copper Over 34.59 Metres
https://www.newswire.ca/news-releases/minto-metals-reports-multiple-high-grade-copper-intersections-from-follow-up-drilling-at-minto-north-including-1-91-copper-over-34-59-metres-880412327.html
Minto Metals Corp. Feb 02, 2023, 06:40 ET
ATAC Discovers Additional High-grade Copper and Gold Mineralization at Catch Property, Yukon
https://www.newswire.ca/news-releases/atac-discovers-additional-high-grade-copper-and-gold-mineralization-at-catch-property-yukon-804435103.html
ATAC Resources Ltd. Jan 23, 2023, 08:00 ET
VANCOUVER, BC, Jan. 23, 2023 /CNW/ - ATAC Resources Ltd. ("ATAC") (TSXV: ATC) (OTCQB: ATADF) is pleased to announce results of phase two exploration work at the Catch copper-gold property in central Yukon ("the Property"). Phase two work included additional prospecting and mapping, as well as a maiden reverse circulation ("RC") drill program.
Exploration Overview
Figure 1 – Catch Copper-in-Soil (CNW Group/ATAC Resources Ltd.)
High-grade copper and gold mineralization was identified in outcrop at the main zone across a 500 m extent, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold (Figures 1 & 2);
Samples from an outcrop of diorite porphyry located 2 km south of the main zone returned 1.45% copper with 0.20 g/t gold, and 1.27% copper with 0.57 g/t gold (Figures 1 & 3);
473.97 m of RC drilling was completed in 6 holes, however all holes failed to reach target depth due to equipment limitations and poor ground conditions. Planning is underway to return to the Property with a diamond drill in summer 2023.
"We continue to be impressed by the amount of surface mineralization present at Catch. During the phase two program our crews continually discovered new areas of float and bedrock mineralization by following up on soil sample anomalies. We have now defined an extensive zone of high-grade copper and gold in altered and brecciated basalt at the main zone, and identified a mineralized diorite intrusion over 2 km to the south. This diorite-hosted discovery is critically important for the project, as it demonstrates that a copper-gold bearing intrusion is present at surface," stated ATAC's president and CEO, Graham Downs. "Unfortunately, subsurface conditions were more challenging than expected and the small fly RC drill rig we had on site was not able to test our geophysical targets at depth. We plan to be back at Catch this summer with a larger diamond drill rig which will allow for evaluation of multiple target areas across the property, including the first holes at the diorite zone."
Figure 1 – Catch Copper-in-Soil
Figure 2 – Catch Main Zone
Figure 3 – Catch Diorite Zone
Figure 4 – Catch IP Cross-Section
Catch Exploration Summary
The phase two work program at Catch included collection of 33 infill soil samples, 176 rock samples, and 473.97 m of RC drilling in 6 holes.
The prospecting program was highly successful in identifying new zones of surface mineralization, and in expanding the footprint of the main zone. Numerous high-grade outcrop samples were collected, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold – all from the main zone (Figure 2). Mineralization throughout this area is extensive, with high-grade samples collected from outcrops across a 500 m area. Float samples from this zone extend mineralization to a 400 x 600 m area.
A new zone with an outcropping diorite porphyry was also identified over 2 km south of the main zone (Figure 1). Samples of the diorite returned 1.45% copper with 0.20 g/t gold and 1.27% copper with 0.57 g/t gold and are coincident with a pronounced 600 x 600 m magnetic low (Figure 3). This outcrop was discovered by prospecting in the final days of the exploration program and very limited sampling has been conducted in this area to-date. With these robust grades and potential for additional associated porphyry-style copper and gold mineralization, this target area is being prioritized for additional work in early 2023.
Initial petrographic studies show mineralization at the main zone is dominantly associated with propylitic to sericitic alteration of basalt, hydrothermal breccias and rare diorite host rocks. Petrography of the diorite zone shows dominantly sericitic alteration of diorite and lesser hydrothermal breccia host rocks.
RC drilling was aimed at evaluating coincident copper-gold geochemistry at surface and induced polarization ("IP") chargeability at depth within the main zone (Figure 2). Unfortunately, ground conditions proved more challenging than anticipated and the heli-portable RC rig was not able to reach target depth in any hole. Anomalous copper and gold were intersected in multiple holes; however, no significant intercepts were returned. The primary IP target remains untested (Figure 4), and numerous other areas on the Property with high-grade copper and gold in rock have yet to be evaluated by drilling, including the diorite zone.
Property Geology and Mineralization
The Property lies within the Stikine Terrane and is immediately adjacent to the 1,000+ km long, deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.
The Property is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km regional magnetic high. Mineralization is associated with propylitic to sericitic alteration of basalt and lesser diorite host rocks. Locally there is intense silicification, brecciation and up to 10% disseminated to blebby pyrite, chalcopyrite and trace bornite and pyrrhotite. Secondary copper minerals including malachite, azurite and tenorite are widespread at surface, and coat fracture surfaces, and are often associated with gypsum.
The geology, alteration and mineralization observed throughout the Property are all indicative of a nearby copper-gold ± molybdenum bearing porphyry system.
The Property is under option from a Yukon prospector, and ATAC can earn up to a 100% interest in the Property. For more information, see ATAC news release dated January 25, 2022.
QA/QC
Analytical work for all samples was completed by ALS Canada Ltd., with sample preparation in Whitehorse, Yukon and Langley, BC, and geochemical analyses in North Vancouver, BC. Samples were fine crushed before a 250-gram split was pulverized to better than 85% passing 75 microns. Gold for rock and RC samples was determined by the Au-AA24 procedure which involves fire assay preparation using a 50-gram charge with an atomic absorption spectroscopy finish. Gold for soil samples was determined by the Au-ICP21 procedure which involves fire assay preparation using a 30-gram charge with an inductively coupled plasma – atomic emission spectrometry ("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 gold were determined by the Au-GRA22 procedure which involves fire assay preparation using a 50-gram charge with a gravimetric finish. Overlimit values for copper were determined by the Cu-OG62 procedure which involves a four-acid digestion followed by ICP-AES analysis.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream of drill samples to ensure integrity of the assay process. All drill samples included in this news release have passed the QA/QC procedures as described above.
The technical information in this news release has been approved by Adam Coulter, M.Sc., P.Geo., VP Exploration for ATAC and a qualified person for the purposes of National Instrument 43-101.
About ATAC
ATAC is a Canadian exploration company focused on exploring for gold and copper in Yukon, BC and Nevada. Work on its ~1,700 km2 Rackla Gold Property in Yukon has resulted in the Osiris Deposit Indicated Resource of 732,000 oz of gold at 4.12 g/t (in 5.5 Mt) and Inferred Resource of 1,044,000 oz of gold at 3.47 g/t (in 9.4 Mt), the Tiger Deposit Measured & Indicated Resource of 464,000 oz of gold at an average grade of 3.19 g/t (in 4.5 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of $118.2M and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC is well-financed with approximately $5 million in working capital.
On behalf of ATAC Resources 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.
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources:
The mineral resource estimates included in this press release have been prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The United States Securities and Exchange Commission (the "SEC") has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements. U.S. investors are cautioned that the disclosure the Company provides on its mineral properties in this news release may be different from the disclosure that an issuer subject to SEC reporting requirements would otherwise be required to provide. Therefore, the information contained in this news release containing descriptions of the Company's mineral properties may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.
Additional information about the Tiger Deposit PEA is summarized in ATAC's February 27, 2020 technical report titled "Technical Report and Preliminary Economic Assessment for the Tiger Deposit, Rackla Gold Project, Yukon, Canada", which can be viewed at www.sedar.com under the ATAC profile or on the ATAC website at www.atacresources.com. Additional information about the Osiris Resource Estimate is summarized in ATAC's July 28, 2022 technical report titled "Technical Report and Estimate of Mineral Resources for the Osiris Project, Yukon, Canada", which can be viewed at www.sedar.com under the ATAC profile or on the ATAC website at www.atacresources.com.
SOURCE ATAC Resources Ltd.
For further information: Andrew Carne, M.Eng., P.Eng., VP Corporate and Project Development, ATAC Resources Ltd., T: 604-688-0111 ext. 106, acarne@atacresources.com
Alianza Minerals Outlines Drilling Plans for 2023 at Haldane Silver Property, YT Jan 30, 2023 | 2023 News
https://alianzaminerals.com/alianza-minerals-outlines-drilling-plans-for-2023-at-haldane-silver-property-yt/
Alianza Minerals Ltd. (“Alianza”) (TSX-V: ANZ, OTCQB: TARSF) is pleased to provide an outline of drilling and other exploration activities planned for the Haldane silver project in the historic Keno District, Yukon Territory. Work will include airborne electromagnetic and magnetics surveys and drilling at the high grade West Fault silver discovery and the emerging Bighorn silver target.
“We are excited to get back to the field at Haldane as early as ground conditions will allow, to continue to expand the high grade West Fault discovery. We are also eager to return to the Bighorn discovery, where a single drill hole to test this target identified a new silver bearing vein structure,” states Jason Weber, President and CEO of Alianza Minerals. “Only 27 holes have been drilled from surface on the entire Haldane property, testing only a small fraction of the 12 km of cumulative strike length of silver bearing structures we have identified to date. Alianza’s drilling has only tested approximately 400 metres of cumulative strike length, leaving plenty of room for expansion of known mineralization and discovery of new high grade silver zones.”
Management is planning airborne electromagnetic and magnetic surveys to help map lithologies, refine target structures (strike extensions and offsets) and potentially identify new target structures that may be silver bearing. This work would be followed up by trenching where applicable and diamond drilling. Drilling will target the extensions down plunge on the West Fault target where high-grade silver mineralization has been identified over an area 100 meters by 90 meters in size, and on two structural levels within the West fault structure. Drilling would aim to build on previous intersections at West fault including 1.8 metres of 818 grams per ton silver, 3.47% lead, 1.03% zinc and 3.14 metres of 1,315 grams per ton silver, 2.43% lead, 2.91% zinc (true widths). At least four holes are planned to test the extensions of this mineralization on 50 metre stepouts.
Drilling is also planned for the Bighorn target located 3 kilometers to the northwest of the West Fault. The Bighorn target was identified from soil geochemical sampling that returned anomalous values for lead and silver in soils. The only drill hole at this target returned 125.7 grams per ton silver and 4.39% lead over 2.35 metres from previously unrecognized vein structures. Trenching and groundwork in 2022 programs was able to refine targeting at Bighorn, and additional drilling will test this target for its potential to host wide, high grade silver mineralization.
Additional drilling will also target the Main and Middlecoff targets, and any targets generated from the geophysical data and trenching.
Figure 1 – West Fault Drill Plan. *Silver-equivalent values are calculated assuming 100% recovery using the formula: ((20 * silver (g/t) / 31.1035) + (1650 * gold (g/t) / 31.1035) + (0.90 * 2204 * lead %/100) + (1.10 * 2204 * zinc %/100)) *(31.1035 / 20). Metal price assumptions are US$20/oz silver, US$1650/oz gold, US$0.90/lb lead and US$1.10/lb zinc.
Additional Projects
Drilling campaigns at Alianza’s other projects are also planned for 2023. Partner Coeur Mining has identified targets for drilling at the high grade silver – lead – zinc carbonate replacement deposit (CRD) Tim Property, under option from Alianza. Once the necessary land use permit has been received, Coeur will be able to test targets on this high grade silver target 19 km from their Silvertip Mine project.
Partner Allied Copper is in the process of obtaining permits for drilling at the Stateline copper project, located 8 km from the Lisbon Valley Copper Mine on the Utah/Colorado state line. Permits are sought for a 6-hole campaign testing the same stratigraphy hosting the Lisbon Valley deposits. Management will be meeting with Allied Copper in the near term to discuss follow up drilling at Klondike, where 2022 drilling identified high grade copper mineralization on an interpreted splay off of the main West Graben Fault (4.26% copper over 1.06 metres). Drilling in 2022 did not reach the main strand of the West Graben Fault, and it remains a priority target for copper mineralization at Klondike.
Alianza is also seeking a partner to fund drilling at Twin Canyon, a disseminated gold target in southwestern Colorado, where drilling permits were recently approved.
About Alianza Minerals Ltd.
Alianza employs a discovery-focused business model of joint venture funding and self-funded projects to maximize opportunity for exploration success. The Company’s primary asset is the Haldane silver project and also currently has gold, silver and base metal projects in Yukon Territory, Colorado, Nevada and Peru. Alianza has one project (Tim, Yukon Territory) optioned out to Coeur Mining, Inc. and two optioned to Allied Copper within an alliance with Cloudbreak Discovery PLC. Alianza is actively seeking partners on other projects. Alianza also holds certain royalties on projects in North and South America.
Alianza is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTCQB market in the US under the symbol “TARSF”.
Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals 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.alianzaminerals.com
Twitter: https://twitter.com/AlianzaMinerals
LinkedIn: https://www.linkedin.com/company/alianza-minerals-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.
Fireweed Drills 12.5 m of 11.17% Zinc including 6.2 m of 15.84% Zinc at Boundary Main
https://ca.finance.yahoo.com/news/fireweed-drills-12-5-m-133000169.html
Fireweed Metals Corp.
Tue, January 31, 2023 at 5:30 a.m. PST
Almadex Announces Updated Resource Estimate for the Logan Zinc/Silver Project, Yukon Territory, Canada
https://ca.finance.yahoo.com/news/almadex-announces-updated-estimate-logan-120000703.html
Almadex Minerals Ltd.
Thu, January 26, 2023 at 4:00 a.m. PST
Victoria Gold Releases Highlighted Results From Raven Proximal Exploration Program
https://ca.finance.yahoo.com/news/victoria-gold-releases-highlighted-results-110000020.html
Victoria Gold Corp
Tue, January 24, 2023 at 3:00 a.m. PST·12 min read
WHITEHORSE, Canada, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Sitka Announces 1,340,000 Ounce Initial Gold Mineral Resource Estimate for the RC Gold Project, Yukon
https://www.newswire.ca/news-releases/sitka-announces-1-340-000-ounce-initial-gold-mineral-resource-estimate-for-the-rc-gold-project-yukon-870088680.html
Sitka Gold Corp. Jan 19, 2023, 12:16 ET
VANCOUVER, BC, Jan. 19, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF)
Strategic Metals Discovers New Veins at its Mt. Hinton Gold-Silver Project, Yukon
https://www.accesswire.com/736194/Strategic-Metals-Discovers-New-Veins-at-its-Mt-Hinton-Gold-Silver-Project-Yukon
Monday, January 23, 2023 8:30 AM
VANCOUVER, BC / ACCESSWIRE / January 23, 2023 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic" or "the Company") is pleased to provide an update on exploration at its road accessible Mt. Hinton gold-silver project, located in central Yukon. Mt. Hinton lies within the Keno Hill District of the Tombstone Gold Belt, immediately southeast of Hecla Mining Company's Keno Hill Silver Mining Project, 35 km southeast of Victoria Gold's Eagle Mine, and 25 km east-southeast of Banyan Gold's AurMac Deposit (Figure 1). The Mt. Hinton project is wholly owned by Strategic with no underlying royalties. Highlights include:
Discovery of the 85 Vein: 273 g/t gold with 284 g/t silver and 138.5 g/t gold with 57.5 g/t silver from float samples.
Outcrop samples from the 15 Vein up to 126.5 g/t gold with 79.1 g/t silver.
19 Vein sampling: Float samples up to 101 g/t gold with 182 g/t silver and chip samples up to 16.4 g/t gold with 202 g/t silver over 1.7 m.
Significantly expands the area of highly anomalous soil geochemistry.
Update on Exploration Work
Since its 2020 diamond drilling program (see Strategic Metals News Release - January 13, 2021), exploration has largely been focused on: (1) discovering new gold- and silver-rich veins, (2) strengthening geological and deposit models relating to the many known veins on the property, and (3) generating additional targets for future drill programs. Highlight results from this work, which includes rock sampling, geological mapping, soil sampling and reverse circulation (RC) drilling, are described below.
Rock Sampling
Prospecting and follow-up of soil geochemical anomalies has resulted in several new vein discoveries in the Southwest Zone (Figure 2) and Northern Structural Corridor (Figure 3). Geological mapping done in conjunction with this prospecting has also resulted in new structural interpretations concerning the distribution of mineralization in new and previously known zones.
Southwest Zone (SWZ)
Prospecting resulted in the discovery of the 85 Vein in an area where no veins had previously been identified. The surface expression of the vein is a 125 by 50 m float train containing numerous well mineralized quartz vein boulders. Four samples were collected from these mineralized boulders, and all returned greater than 7 g/t gold and 40 g/t silver. The two best samples, taken 15 m apart at the apex of the float train, returned 273 g/t gold with 284 g/t silver and 138.5 g/t gold with 57.5 g/t silver. The vein that is the source of this mineralization is thought to be buried beneath large talus boulders in the immediate vicinity of the uppermost samples. The 85 Vein is located less than 100 m from an existing access road and has not yet been drill tested. It lies approximately 200 m south of the 12 Vein (34 g/t gold and 181 g/t silver over 0.35 m from chip sampling) and 400 m south of the Southwest Main Vein (see description below).
Recent prospecting also discovered the 83 Vein, a 20-cm wide quartz vein that returned 30.4 g/t gold and 230 g/t silver over 0.2 m from chip sampling. The vein can be traced for 10 m before being obscured by talus and remains open in all directions. Although narrow at its outcropping location, this discovery is significant because the outcropping vein is hosted within phyllite and, throughout the Mt. Hinton and Keno Hill areas, veins typically become broader and better mineralized where they pass from phyllite into more competent quartzite units.
Geological mapping completed along the Southwest Main Vein has resulted in a greatly enhanced understanding of its geometry and style of mineralization. The Southwest Main Vein is a discontinuously exposed quartz vein, up to 7 m wide, that has been traced along strike for over 1 km. Surface sampling has returned significant values along the vein, including 200 g/t gold with 90 g/t silver over 1.2 m and 80.3 g/t gold with 72 g/t silver over 1.0 m from chip sampling and 48.5 g/t gold with 73 g/t silver and 46.9 g/t gold with 446 g/t silver from rock samples. A 100 m segment of the Southwest Main Vein was successfully tested by five diamond drill holes in 2020, returning impressive results that include 4.78 g/t gold over 12.14 m (see Strategic Metals News Release - January 13, 2021 for full results). This vein remains open to extension along strike and to depth.
Northern Structural Corridor (NSC)
Sampling and geological mapping has been completed along several known veins that lie within the NSC.
The 19 Vein has an average width of 1.7 m and is exposed on surface for approximately 300 m. The vein is truncated by a fault to the south but is open along strike to the north beneath talus. Rock sampling results from mineralized bedrock and vein float include 101 g/t gold with 182 g/t silver, 20.5 g/t gold, and 11.4 g/t gold, while chip sampling returned 16.4 g/t gold with 202 g/t silver over 1.7 m and 5.1 g/t gold over 1.2 m.
The 15 Vein is a 1.5 m wide vein exposed on surface for 80 m, which is open in all directions and has never been drill tested. During recent work programs the vein, which was mostly buried under talus, was re-exposed and sampled. Highlight results from this sampling include 126.5 g/t gold with 79.1 g/t silver from rock sampling and 5.2 g/t gold with 349 g/t silver over 2.0 m and 7.88 g/t gold with 284 g/t silver over 1.7 m from chip sampling.
The 26 Vein, which is intermittently exposed on surface for 175 m and averages 1 m in width, was comprehensively mapped and sampled. This vein is open along strike in all direction and has never been drill tested. Chip sampling across this vein yielded 23.9 g/t gold with 47.7 g/t silver over 0.7 m and 11.8 g/t gold with 12.2 g/t silver over 1.10 m.
The 33 Vein is a 1 m wide quartz vein that was traced through outcrop and float over a 55 m strike length before being fully obscured by talus. The vein is open in all directions and has never been drill tested. Chip sampling across the vein returned 25.2 g/t gold with 268 g/t silver over 1.0 m, 7.5 g/t gold with 23 g/t silver over 1.0 m and 8.68 g/t gold with 48.6 g/t silver over 0.65 m.
Geological Mapping
Detailed and systematic geological mapping was completed during the 2021 and 2022 field programs. This work generated a detailed lithological map of the Mt. Hinton project area (Figure 4), which ties into a recently published map covering the Keno Hill Silver District (Read et al., 2021). Mapping completed by Strategic Metals has delineated favourable Keno Hill Quartzite stratigraphy over an 8.1 by 3.7 km area on the Mt. Hinton property, including several unexplored parts of the property. This quartzite unit is the favourable host of mineralization in the Keno Hill district and is the main host of gold- and silver-rich veins on the Mt. Hinton property.
The vein mineralization that typifies Mt. Hinton is thought to be the distal expression of an intrusion related hydrothermal system. To date, intrusive rocks have not been observed by Strategic Metals on the property; however, historical drill logs from limited exploration drilling done in the mostly till-covered and lightly explored East Granite Creek drainage reference the presence of widespread intrusive rocks. Unfortunately, drill core from the holes containing intrusive rocks has not yet been relocated.
The presence of intrusive rocks on the Mt. Hinton property is highly significant because it supports the model for a buried intrusive source for magmatic hydrothermal fluids feeding the known veins and also points to bulk-tonnage potential. The Company's geologists believe that the buried intrusion is likely part of the Mayo Suite, a belt of Late Cretaceous reduced intrusions that host significant, bulk-tonnage, intrusion-related gold deposits elsewhere in central Yukon. The closest Mayo Suite intrusion to the property is the Roops Lake Pluton, which lies three kilometres east of the claim boundary and about 10 km east of the Granite Creek basin. Reduced intrusion related gold deposits within the Yukon are primarily hosted by Mayo Suite or Tombstone Suite intrusions, which are both reduced and Late Cretaceous in age. In addition to Victoria Gold's Eagle Mine and Raven deposit, recent discoveries in Yukon that are related to reduced intrusions include Sitka Gold Corp.'s RC Gold project, Snowline Gold Corp.'s Rogue project and Banyan Gold Corp.'s AurMac deposit.
RC Drilling
In 2021, Strategic Metals completed a total of 335.81 m of drilling in 5 RC drill holes in the Granite North Zone. Drilling was designed to expand on drill results from the 2020 program and evaluate additional veins; however, frequent mechanical breakdowns severely hampered the program and caused it to be terminated prematurely.
The best results from the 2021 drill program came from hole MH-21-036, the final drill hole of the program. This hole produced intervals containing highly oxidized and limonitic quartz vein chips, which graded 2.17 g/t Au over 1.52 m (starting at 15.24 m depth) and 2.62 g/t gold and 25.4 g/t silver over 3.05 m (starting at 30.48 m depth).
Soil Sampling
Since 2021, Strategic Metals has collected a total of 383 soil samples in the northern and southern parts of the property. Recent soil sampling has identified and delineated two new soil geochemical anomalies, Anomaly XVI and XVII (Figure 5).
A total of 17 multi-element soil geochemical anomalies are found on the Mt. Hinton property and collectively span a 10 by 5 km area. These anomalies contain highly elevated values for gold (up to 3310 ppm) with varying additional pathfinder elements. Eleven of these anomalies are associated with known mineralized veins, while the remaining six anomalies have seen limited to no follow up work.
Technical information in this news release has been approved by Kelson Willms, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a project generator with 23 royalty interests, eight projects under option to others, and a portfolio of more than 90 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of approximately $3.6 million and large shareholdings in several active mineral exploration companies including 32.8% of Broden Mining Ltd., 34.5% of GGL Resources Corp., 29.6% of Rockhaven Resources Ltd., 19.6% of Honey Badger Silver Inc., 15.7% of Precipitate Gold Corp. and 17.2% of Silver Range Resources Ltd. All these companies are well funded and are engaged in promising exploration projects. Strategic also owns 15 million shares and 5 million warrants of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed another large financing to advance its environmentally friendly, cost-effective alternative to Portland cement.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.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 may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
Benjamin Hill Enters into Option Agreement with Strategic Metals on the Alotta Property
https://www.newsfilecorp.com/release/151701
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2023) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) ("BHM" or the "Company") is pleased to announce that Strategic Metals Ltd. (TSXV: SMD) (the "Optionor") has signed an agreement (the "Agreement") granting the Company an optional right (the "Option") to earn an undivided 60% joint venture interest in the Alotta Project located in the Whitehorse Mining District, Yukon Territory.
The Alotta Project hosts an un-drilled porphyry prospect that is situated in a similar geological setting and in close proximity to Western Copper and Gold's Casino Deposit. Alotta is marked by a pronounced magnetic low that coincides with a strong, multi-element soil geochemical anomaly. The core of the geochemical anomaly is enriched in copper, gold and molybdenum and measures 4 kilometres by 1 kilometre. It is surrounded by a distal halo with high lead, zinc and silver values. The Alotta soil geochemical signature exhibits classic features common associated by large porphyry deposits. The property is permitted for advanced exploration and only requires an induced polarization survey prior to any drill testing.
The Option may be exercised by making seven cash payments, totalling $500,000 CAD within five years of the execution of the Agreement (the "Execution Date") as follows: (i) $25,000 upon execution of this Agreement by all parties; (ii) an additional $25,000 on or before July 1, 2023; (iii) an additional $50,000 on or before January 17, 2024; (iv) an additional $100,000 on or before January 17, 2025; (v) an additional $100,000 on or before January 17, 2026; (vi) an additional $100,000 on or before January 17, 2027; and (vii) an additional $100,000 on or before January 17, 2028.
The Company must also incur aggregate Expenditures of $11,000,000 CAD over 5 years, as follows: (i) $500,000 on or before December 31, 2023; (ii) an additional $1,500,000 on or before December 31, 2024; (iii) an additional $2,500,000 on or before December 31, 2025; (iv) an additional $3,000,000 on or before December 31, 2026; and (v) an additional $3,500,000 on or before December 31, 2027.
In connection with the Agreement, the Company has entered into a finder's fee agreement with William Morris-Nelson in consideration for introducing the Company to the Optionor, pursuant to which Mr. Morris-Nelson will receive consideration up to 300,000 common shares of the Company, in installment amounts due concurrent with cash payments payable under the Option Agreement during the first 3 years of the term of the Agreement. All such shares shall be subject to statutory four month resale restrictions commencing from the date of issuance.
Qualified Person
Greg Bronson, P.Geo, President and Director of the Company 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 Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico. The Company's Sonora Gold project covers 6,000 ha of highly prospective mineral concessions in the Caborca gold belt of Sonora, Mexico in close proximity to Magna Gold Corp's San Francisco mine.
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.
Snowline Gold Intersects 189.2 M Of 1.2 Grams Per Tonne Gold Near Surface In 170 M Step-Out and Commences Metallurgical Testing at Its Valley Discovery, Rogue Project, Yukon
https://www.accesswire.com/735661/Snowline-Gold-Intersects-1892-M-Of-12-Grams-Per-Tonne-Gold-Near-Surface-In-170-M-Step-Out-and-Commences-Metallurgical-Testing-at-Its-Valley-Discovery-Rogue-Project-Yukon
Wednesday, January 18, 2023 7:00 AM
Granite Creek Copper Announces Positive PEA with Net Present Value of $324M on Carmacks Copper-Gold Project in Yukon, Canada
https://www.accesswire.com/735914/Granite-Creek-Copper-Announces-Positive-PEA-with-Net-Present-Value-of-324M-on-Carmacks-Copper-Gold-Project-in-Yukon-Canada
Thursday, January 19, 2023 10:15 AM
Granite Creek Copper Ltd.
www.gcxcopper.com
VANCOUVER, BC / ACCESSWIRE / January 19, 2023 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (
Victoria Gold: 3.59 g/t Au over 83.5 Meters from 2022 Raven Exploration Program
https://ca.finance.yahoo.com/news/victoria-gold-3-59-g-110000925.html
Victoria Gold Corp
Thu, January 19, 2023 at 3:00 a.m. PST·11 min read
WHITEHORSE, Yukon, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Benjamin Hill Enters into Option Agreement with Strategic Metals on the Alotta Property
https://www.newsfilecorp.com/release/151701
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2023) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) ("BHM" or the "Company") is pleased to announce that Strategic Metals Ltd. (TSXV: SMD) (the "Optionor") has signed an agreement (the "Agreement") granting the Company an optional right (the "Option") to earn an undivided 60% joint venture interest in the Alotta Project located in the Whitehorse Mining District, Yukon Territory.
The Alotta Project hosts an un-drilled porphyry prospect that is situated in a similar geological setting and in close proximity to Western Copper and Gold's Casino Deposit. Alotta is marked by a pronounced magnetic low that coincides with a strong, multi-element soil geochemical anomaly. The core of the geochemical anomaly is enriched in copper, gold and molybdenum and measures 4 kilometres by 1 kilometre. It is surrounded by a distal halo with high lead, zinc and silver values. The Alotta soil geochemical signature exhibits classic features common associated by large porphyry deposits. The property is permitted for advanced exploration and only requires an induced polarization survey prior to any drill testing.
The Option may be exercised by making seven cash payments, totalling $500,000 CAD within five years of the execution of the Agreement (the "Execution Date") as follows: (i) $25,000 upon execution of this Agreement by all parties; (ii) an additional $25,000 on or before July 1, 2023; (iii) an additional $50,000 on or before January 17, 2024; (iv) an additional $100,000 on or before January 17, 2025; (v) an additional $100,000 on or before January 17, 2026; (vi) an additional $100,000 on or before January 17, 2027; and (vii) an additional $100,000 on or before January 17, 2028.
The Company must also incur aggregate Expenditures of $11,000,000 CAD over 5 years, as follows: (i) $500,000 on or before December 31, 2023; (ii) an additional $1,500,000 on or before December 31, 2024; (iii) an additional $2,500,000 on or before December 31, 2025; (iv) an additional $3,000,000 on or before December 31, 2026; and (v) an additional $3,500,000 on or before December 31, 2027.
In connection with the Agreement, the Company has entered into a finder's fee agreement with William Morris-Nelson in consideration for introducing the Company to the Optionor, pursuant to which Mr. Morris-Nelson will receive consideration up to 300,000 common shares of the Company, in installment amounts due concurrent with cash payments payable under the Option Agreement during the first 3 years of the term of the Agreement. All such shares shall be subject to statutory four month resale restrictions commencing from the date of issuance.
Qualified Person
Greg Bronson, P.Geo, President and Director of the Company 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 Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico. The Company's Sonora Gold project covers 6,000 ha of highly prospective mineral concessions in the Caborca gold belt of Sonora, Mexico in close proximity to Magna Gold Corp's San Francisco mine.
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.
Trransition Metals Intersects Bonanza Silver Mineralization in Shallow RC Drilling at ERT Zone, Pike Warden Property, Yukon
Highlights
16.76 metres grading 93.95 g/t AgEq* including 1.5 metres grading 482.95 g/t AgEq* in hole 22-PW-01
21.34 metres grading 104.64 g/t AgEq* including 1.5 metres grading 399.10 g/t AgEq* in hole 22-PW-02
12.19 metres grading 52.96 g/t AgEq* including 1.5 metres grading 229.7 g/t AgEq* in hole 22-PW-03
The ERT Zone is only one of 18 identified mineralized zones discovered to date on the 37 km² property located near the margins of the Bennett Lake Volcanic Complex
https://www.newsfilecorp.com/release/151403
Sudbury, Ontario--(Newsfile Corp. - January 16, 2023) - Transition Metals Corp (TSXV: XTM)
CANTEX INTERSECTS 23.5 METRES OF 8.34% LEAD-ZINC AT THE MAIN ZONE INCLUDING 2.5 METRE ZONES OF UP TO 24.72% LEAD-ZINC AND 85 G/T SILVER ON ITS 100% OWNED NORTH RACKLA PROJECT, YUKON
https://www.newswire.ca/news-releases/cantex-intersects-23-5-metres-of-8-34-lead-zinc-at-the-main-zone-including-2-5-metre-zones-of-up-to-24-72-lead-zinc-and-85-g-t-silver-on-its-100-owned-north-rackla-project-yukon-867041523.html
Cantex Mine Development Corp. Jan 12, 2023, 09:00 ET
KELOWNA, BC, Jan. 12, 2023 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF)
Victoria Gold: 24.69 g/t Au over 6.5m from 2022 Lynx Exploration Program
https://ca.finance.yahoo.com/news/victoria-gold-24-69-g-110000408.html
Victoria Gold Corp
Thu, January 12, 2023 at 3:00 a.m. PST·10 min read
WHITEHORSE, Yukon, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Sitka Drills 82.0 Metres of 2.04 g/t Gold From Surface, Including 19.5 Metres of 4.87 g/t Gold, Within 201.0 Metres of 1.26 g/t Gold at Its RC Gold Project, Yukon
https://ca.finance.yahoo.com/news/sitka-drills-82-0-metres-163500669.html
Wed, January 11, 2023 at 8:35 a.m. PST·17 min read
VANCOUVER, BC, Jan. 11, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF
Granite Creek Copper Reports on Metallurgical Results in Support of an Updated PEA on the Carmacks Copper-Gold Project in Yukon, Canada
https://ca.finance.yahoo.com/news/granite-creek-copper-reports-metallurgical-130000274.html
Granite Creek Copper Ltd.
Tue, January 10, 2023 at 5:00 a.m. PST·6 min read
VANCOUVER, BC / ACCESSWIRE / January 10, 2023 / Granite Creek Copper Ltd. (TSXV:GCX | OTCQB:GCXXF)
Victoria Gold: Eagle Gold Mine Annual and Fourth Quarter 2022 Production Results
https://ca.finance.yahoo.com/news/victoria-gold-eagle-gold-mine-110000971.html
Victoria Gold Corp
Tue, January 10, 2023 at 3:00 a.m. PST·7 min read
WHITEHORSE, Yukon, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Golden Sky Defines a 600 m x 475 m gold-in-soil anomaly with values up to 552 ppb Au at the Sure Bet North zone, Hotspot Property, Yukon Territory
https://ca.finance.yahoo.com/news/golden-sky-defines-600-m-124500334.html
Golden Sky Minerals Corp.
Tue, January 10, 2023 at 4:45 a.m. PST·6 min read
Figure 1
Hotspot property location in the Yukon Territory. The property is located within the Tintina Gold Belt, which hosts numerous multi-million-ounce gold deposits in the Yukon and Alaska. The Tintina Gold Belt includes the deposits shown here.
Figure 2
A larger and more defined gold system has now been delineated at the Sure Bet North zone. The West Valley zone has also been expanded.
Figure 3
Multi-element geochemistry has defined a ~1000 m x 600 m anomalous zone within the Sure Bet North zone. A strong correlation between Au, As, Sb is commonly associated with epithermal gold systems, including low-sulphidation and Reduced Intrusion-related Gold Systems (RIRGS).
Figure 4
A geochemical horizon is interpreted to separate the geochemical signature commonly associated with the upper and mid-levels of a low sulphidation system. For simplicity, the geochemical horizon line is interpreted to be horizontal (refer to Figure 5 for cross-sectional view of a low-sulphidation gold system model).
Figure 5
Cross-sectional model of various geochemical signatures observed in a low-sulphidation gold system. Modified after Buchanan (1981).
VANCOUVER, British Columbia, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is pleased to announce that a 600 m x 475 m zone of elevated gold-in-soil values, up to 552 ppb Au, has been defined at the Sure Bet North zone, located within its 100% owned Hotspot Property (“the Property”) in the Yukon Territory (Figure 1 & 2). This zone is overlain and flanked by a multi-element bismuth (Bi), antimony (Sb), arsenic (As), ± selenium (Se) and ± molybdenum (Mo) geochemical anomaly, which further extends the mineralized system to approximately 1000 m x 600 m (Figure 3). This geochemical soil anomaly trends northeast and appears to transition from a mid-level low-sulphidation system (Au, As, Sb), exposed in the creek valley, to an upper-level low-sulphidation gold system upslope (As, Sb) (Figure 4). Erosion may have exposed the extent of the geochemical signature of this low sulphidation system which may host gold-bearing mineralization below the upper-slope zone marked by anomalous As and Sb values (Figure 4 & 5).
The West Valley zone (Figure 2) was also further defined by soil sampling in 2022 (Figure 3 & 4). Permafrost, which is more developed in this zone, can mask element distribution representing the underlying bedrock geochemical signature. Despite sampling difficulties, a ~600 m x 300 m arsenic-in-soil anomaly was defined, with sporadic elevated gold and antimony values. With similar geological, geophysical and geochemical characteristics to the Sure Bet zone, the West Valley zone is considered highly prospective for further exploration.
Mr. John Newell, President & CEO of Golden Sky Minerals stated: “We are extremely pleased with the success of the 2022 exploration program. The multi-element soil geochemistry has been critical in defining the size and scalability of this project and has provided more context for geological interpretation, which will be crucial in future drill planning. The property now has three main target zones with excellent potential for additional discoveries in a region (Tintina Gold Belt) known for world-class deposits.”
Hotspot property location in the Yukon Territory. The property is located within the Tintina Gold Belt, which hosts numerous multi-million-ounce gold deposits in the Yukon and Alaska. The Tintina Gold Belt includes the deposits shown here.
Figure 1: Hotspot property location in the Yukon Territory. The property is located within the Tintina Gold Belt, which hosts numerous multi-million-ounce gold deposits in the Yukon and Alaska. The Tintina Gold Belt includes the deposits shown here.
A larger and more defined gold system has now been delineated at the Sure Bet North zone. The West Valley zone has also been expanded.
Figure 2: A larger and more defined gold system has now been delineated at the Sure Bet North zone. The West Valley zone has also been expanded.
Multi-element geochemistry has defined a ~1000 m x 600 m anomalous zone within the Sure Bet North zone. A strong correlation between Au, As, Sb is commonly associated with epithermal gold systems, including low-sulphidation and Reduced Intrusion-related Gold Systems (RIRGS).
Figure 3: Multi-element geochemistry has defined a ~1000 m x 600 m anomalous zone within the Sure Bet North zone. A strong correlation between Au, As, Sb is commonly associated with epithermal gold systems, including low-sulphidation and Reduced Intrusion-related Gold Systems (RIRGS).
A geochemical horizon is interpreted to separate the geochemical signature commonly associated with the upper and mid-levels of a low sulphidation system. For simplicity, the geochemical horizon line is interpretated to be horizontal (refer to Figure 5 for cross-sectional view of a low-sulphidation gold system model).
Figure 4: A geochemical horizon is interpreted to separate the geochemical signature commonly associated with the upper and mid-levels of a low sulphidation system. For simplicity, the geochemical horizon line is interpreted to be horizontal (refer to Figure 5 for cross-sectional view of a low-sulphidation gold system model).
Cross-sectional model of various geochemical signatures observed in a low-sulphidation gold system. Modified after Buchanan (1981).
Figure 5: Cross-sectional model of various geochemical signatures observed in a low-sulphidation gold system. Modified after Buchanan (1981).
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well-funded junior grassroots explorer engaged in the acquisition, assessment, exploration, and development of mineral properties located in highly prospective areas and mining-friendly districts. Golden Sky’s mandate is to develop its portfolio of projects to the mineral resource stage through systematic exploration.
The drill-ready projects include Hotspot, Bullseye, and Luckystrike, all in Yukon, Canada. In addition, the recent purchase and expansion of the Rayfield Copper-Gold Project in southern British Columbia, the Eagle Mountain Gold Project in the Cassiar Gold District in northern British Columbia, and the Argo Copper and Gold Project in the Quesnel Trough, British Columbia add to the company’s substantial early-stage Canadian project pipeline.
The company was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.
More information can be found at the Company’s website at www.goldenskyminerals.com
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Golden Sky’s Yukon exploration projects, and has reviewed and approved the technical information in this release.
For new information from the Company's programs, please visit Golden Sky's website at www.GoldenSkyMinerals.com or contact John Newell by telephone (604) 568-8807 or by email at info@goldenskyminerals.com or john.newell@goldenskyminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Golden Sky has attempted to identify important factors and risks that could affect Golden Sky and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Golden Sky’s expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration results and other risks set forth in Golden Sky's public filings at www.sedar.com. In making the forward-looking statements in this news release, Golden Sky has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Golden Sky does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/29f7c184-59c0-4ac0-ac48-a76b311551dd
https://www.globenewswire.com/NewsRoom/AttachmentNg/a456bae7-a177-4020-81ef-55806c9b336f
https://www.globenewswire.com/NewsRoom/AttachmentNg/c506aa52-c529-45ac-b8af-763d378150e3
https://www.globenewswire.com/NewsRoom/AttachmentNg/090a02ef-18a1-4b15-b924-44a526937a45
https://www.globenewswire.com/NewsRoom/AttachmentNg/7375c14b-5d2d-4346-ba16-629660cf10c4
White Gold Intersects Significant Additional Gold Mineralization including 5.34 g/t Gold over 10.85m Further Extending Mineralization Along Strike at the Ryan’s Surprise Target on its Flagship White Gold Property, Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-intersects-significant-120000304.html
White Gold Corp.
Thu, January 5, 2023 at 4:00 a.m. PST·
White Gold Corp. Intersects Additional Near Surface High-Grade Gold Mineralization of 8.94 g/t Gold over 18.29m including 21.73 g/t Gold over 6.10m Extending Mineralization Along Strike at the Betty Ford Target, Yukon, Canada
https://ca.finance.yahoo.com/news/white-gold-corp-intersects-additional-142000089.html
White Gold Corp.
Thu, December 8, 2022 at 6:20 a.m.
SITKA DRILLS 180.0 METRES OF 1.04 G/T GOLD WITHIN 305.2 METRES OF 0.78 G/T GOLD AT ITS RC GOLD PROJECT, YUKON
https://www.sitkagoldcorp.com/news---11302022nr22-29.html
NOVEMBER 30, 2022
VANCOUVER, CANADA – November 30, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (FSE:1RF) (OTCQB:SITKF)
Strategic Metals Reports High-Grade Copper, Cobalt and Gold Mineralization at Its Batt Property, Yukon
https://www.accesswire.com/729382/Strategic-Metals-Reports-High-Grade-Copper-Cobalt-and-Gold-Mineralization-at-Its-Batt-Property-Yukon
Wednesday, November 30, 2022 8:30 AM
VANCOUVER, BC / ACCESSWIRE / November 30, 2022 / Strategic Metals Ltd. (TSXV:SMD) is pleased to announce results from its wholly owned Batt property, which covers volcanogenic massive sulphide (VMS) and overprinting epigenetic vein and fracture hosted, copper, cobalt, gold ± silver ± zinc mineralization. Highlights include:
0.71% Cu, 0.21% Co and 1.18 g/t Au over 5.7 m from a hand trench through oxidized and deformed volcanic and intrusive rocks;
2.18% Co and 2.37 g/t Au over 0.5 m from an outcropping shear zone;
8.72% Cu, 0.24% Zn, 19.9 g/t Ag and 488 ppm Co over 1 m within strongly silicified basalt with localized semi-massive to massive sulphides;
19.7% Cu and 41 g/t Ag from large, angular massive chalcopyrite boulder: and,
1.46% Co and 1.43 g/t Au over 0.5 m from a quartz-carbonate vein.
The Batt property is located about 68 km south of the town of Haines Junction in southwestern Yukon and 20 km west of the Haines Road (Figure 1). The property lies within the Traditional Territory of Champagne and Aishihik First Nations, with whom Strategic has a signed Exploration Benefits Agreement.
VMS-style mineralization has been identified at several localities on the property, hosted within a thick package of basalt containing minor intermediate to felsic tuff and volcaniclastic rocks. Geological mapping and prospecting within the northeastern part of the property have identified mineral showings and large areas of chlorite, sericite and epidote altered basalt, thick jasper/magnetite exhalite horizons and massive magnetite lenses, all of which are indicative of VMS-style mineralization (Figure 2).
At the MS zone, a 2 m thick lens of massive to semi-massive pyrite and chalcopyrite returned 1.3% Cu and 175 ppm Co over 2 m. The lens is covered by talus along strike in both directions. About 350 m to the southwest of the sulphide lens, a zone of highly silicified basalt containing a 0.5 m massive sulphide layer and stringers of sulphide was chip sampled and returned 8.72% Cu, 0.24% Zn, 488 ppm Co and 19.9 g/t Ag over 1 m.
Approximately 3.8 km to the southeast of the MS zone, a quartz-sulphide breccia and stockwork zone cutting through strongly sericite and chlorite altered basalt returned 4.01 g/t Au, 0.51% Cu and 700 ppm Co over 2 m. This zone is interpreted as representing part of a plumbing system, such as those that are typically found beneath sulphide horizons within VMS deposits.
One kilometre south-southwest of the MS zone, soil geochemical sampling has identified a 400 m by 300 m multi-element anomaly that contains values up to 0.58% Cu, 0.42% Zn and 180 ppm Co (Figures 3-5). This is a new discovery that has not yet been mapped or prospected.
Approximately 800 m southeast of the MS zone, several large (0.4 x 0.3 x 0.5 m) angular boulders of massive sulphide in float make up the Boulder zone, where a chalcopyrite, pyrite and quartz boulder returned 19.7% Cu and 41 g/t Ag, and a pyrrhotite and pyrite bearing boulder returned 0.2% Cu and 0.18% Co. By following the boulders upslope, a subcrop of semi-massive chalcopyrite and pyrite in a quartz breccia was discovered and a sample from this subcrop returned 2.2% Cu with 8.0 g/t Ag. This area has not been systematically evaluated because of thick talus cover.
Figure 1. Location of the Batt property, southwest Yukon.Figure 2. A) Sericite altered basalt breccia with sulphide clast (black circle). B) Jasper/magnetite, quartz and epidote infill between pillows. C) Quartz-sulphide breccia and stockwork interpreted as a feeder to possible overlying VMS mineralization (4.01 g/t Au, 0.51% Cu, 700 ppm Co over 2m). D) Massive chalcopyrite and pyrite boulder from the Boulder zone (19.7% Cu and 41 g/t Ag).Figures 3-5. Soil geochemistry from the Batt property showing multi-element geochemical anomaly (red circle). The Main Ridge, MS and Boulder zones are shown for reference.At the Main Ridge zone epigenetic quartz and quartz-carbonate veins have been identified in brittle shears and fractures developed within the volcanic sequence and younger intrusive rocks (Figure 6). These veins host significant copper, cobalt and gold mineralization and range from 0.3 to 5 m in width. Two large structures have been identified within the Main Ridge zone, and two mineral showings, Rosie and Saddle, have been exposed in bedrock where the structures cross areas of outcrop and shallow talus. The Rosie showing is characterized by quartz and quartz-carbonate veins and associated shears, developed along a strike length of 230 m. Highlights of chip sampling along the Rosie structure includes:
0.44 g/t Au, 0.75% Cu and 609 ppm Co over 4.5 m;
1.43 g/t Au and 1.46% Co over 0.5 m;
3.2% Cu, and 233 ppm Co over 1.3 m;
0.25 g/t Au, 1.33% Cu and 145 ppm Co over 5 m; and
2.3 g/t Au, 0.79% Cu and 1.03% Co over 0.3 m.
A small shear zone in the hangingwall of the main Rosie structure was observed to host thin quartz-carbonate veins. Sampling across this zone returned 2.37 g/t Au and 2.18% Co over 0.5 m.
Figure 6. Generalized geology of the Main Ridge zone.The Saddle showing is located approximately 100 m northeast of the Rosie showing and is characterized by quartz and quartz-carbonate veins developed within strongly sheared volcanic and volcaniclastic rocks over a strike-length of at least 150 m. Deformation and veining seen within the main Saddle structure ranges from 0.3 m to several meters in width. Chip sampling from a hand trench dug across the Saddle structure averaged 1.71 g/t Au, 0.35% Cu and 1375 ppm Co over 3.3 m. Another chip sample, taken 10 m upslope from the hand trench, returned 4.45 g/t Au, 0.434% Cu and 503 ppm Co over 1 m. A quartz vein developed within a shear located in the hanging wall of the Saddle structure, 50 m along strike of the hand trench, returned 4.52 g/t Au, 1.39% Cu and 673 ppm Co over 0.3 m.
A hand trench dug in the area between the Rosie and the Saddle showings revealed strongly deformed and altered gabbroic to mafic volcaniclastic rocks with thin quartz and quartz-carbonate veinlets developed along foliation. Chip sampling from this trench returned 1.18 g/t Au, 0.71% Cu and 2088 ppm Co over 5.7 m.
The sampled exposures on the Main Ridge are surrounded by talus, so the extent of the mineralization is not known at this time.
The VMS mineralization at the Batt is hosted in volcanic stratigraphy of Wrangellia and is constrained in age to Latest Devonian to Earliest Mississippian. These are the same as the tectonic setting and age for the VMS mineralization found at the Myra Falls deposits on Vancouver Island (Figure 5).
Work to date at Batt has concentrated on the Main Ridge zone and adjacent areas in the northeastern portion of the property. Volcanic stratigraphy that has the potential for hosting VMS mineralization continues to the south where a minimal amount of work has occurred. Potential for additional epigenetic copper, cobalt and gold discoveries exists throughout the property.
Figure 7. Tectonic and stratigraphic framework for the Batt property and Myra Falls VMS deposits on Vancouver Island.Analytical work was done by ALS Minerals, with sample preparation in Whitehorse, Yukon and assays and geochemical analyses in North Vancouver, British Columbia. All rock samples were analyzed for gold by fire assay fusion and inductively coupled plasma-atomic emission spectrometry (Au-ICP21) and 48 other elements by ultra-trace four-acid digestion and inductively coupled plasma-atomic emission spectroscopy (ME-MS61). Overlimit values were determined for copper by four acid digestion and inductively coupled plasma-atomic emission spectroscopy (CuOG62).
The 2022 field program on the Batt property was managed by Archer, Cathro & Associates (1981) Limited ("Archer Cathro"). Technical information in this news release has been approved by Heather Burrell, P. Geo., a senior geologist with Archer Cathro and a qualified person for the purpose of National Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a project generator with 13 royalty interests, 7 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of approximately $5 million and large shareholdings in several active mineral exploration companies including 32.8% of Broden Mining Ltd., 34.5% of GGL Resources Corp., 31.6% of Rockhaven Resources Ltd., 19.6% of Honey Badger Silver Inc., 15.7% of Precipitate Gold Corp. and 17.2% of Silver Range Resources Ltd. All these companies are well funded and are engaged in promising exploration projects. Strategic also owns 15 million shares and 5 million warrants of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed another large financing to advance its environmentally friendly, cost-effective alternative to Portland cement.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568 Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com http://www.strategicmetalsltd.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 may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
WESTERN COPPER AND GOLD ANNOUNCES EXTENSION OF RIO TINTO'S RIGHTS
https://www.newswire.ca/news-releases/western-copper-and-gold-announces-extension-of-rio-tinto-s-rights-847157038.html
Western Copper and Gold Corporation Nov 23, 2022, 13:05 ET
Rights associated with the Investor Rights Agreement have been Extended
VANCOUVER, BC, Nov. 23, 2022 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN); (NYSE American: WRN) announces that Rio Tinto Canada Inc. ("Rio Tinto") has exercised its right to extend certain rights under the investor rights agreement (the "Agreement") between the Company and Rio Tinto dated May 28, 2021.
By exercising of the extension rights, Rio Tinto continues to have the right to appoint:
one member to a Casino Project Technical Committee until the earlier of: (a) Rio Tinto's ownership falling below 5.0%; and (b) November 28, 2023.
one non-voting observer to attend all meetings of the board of directors of the Company until the earlier of (a) Rio Tinto's ownership falling below 5.0%; (b) November 28, 2023; and (c) such time as Rio Tinto may appoint a director.
one director of the Company, if Rio Tinto's ownership increases to at least 12.5% before November 28, 2023.
up to three secondees to the Casino Project until the earlier of: (a) Rio Tinto's ownership falling below 5.0%; and (b) November 28, 2023.
Additionally, Rio Tinto's rights regarding access to information about the Casino Project and review of technical disclosure are also extended.
"We are pleased that Rio Tinto has elected to extend its rights as an investor in the Company," said Paul West-Sells, President and CEO. "We look forward to extending our great working relationship with Rio Tinto as they continue to work to assess the Casino Project."
"We are pleased to continue our evaluation of the Casino Project," said Bold Baatar, Chief Executive, Copper, Rio Tinto.
A copy of the Agreement can be found on SEDAR (www.sedar.com) under the Company's profile.
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.
The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.
For more information, visit www.westerncopperandgold.com.
On behalf of the board,
"Paul West-Sells"
Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-Looking Statements and Information
This news release contains certain forward-looking statements, including statements with respect to the extended rights provided to Rio Tinto. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). 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. In making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the assumption that general business conditions will not change in a materially adverse manner.
Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.
Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
SOURCE Western Copper and Gold Corporation
For further information: Sandy Noyes, Director, Investor Relations, 604.638.2520 or snoyes@westerncopperandgold.com
Fireweed Metals: First Assays from 2022 program at Boundary West discovery return best ever intersection at Macmillan Pass: 124 m of 12.3% Zinc, 1.3% Lead, and 45.9 g/t Silver Including 60 m of 19.0% Zinc, 1.6% Lead, and 64.7 g/t Silver
https://fireweedmetals.com/news/first-assays-from-2022-program-at-boundary-west-discovery-return-best-ever-intersection-at-macmillan-pass-124-m-of-12-3-zinc-1-3-lead-and-45-9-g-t-silver-including-60-m-of-19-0-zinc-1-6-lead-and-64-7/
Tue, November 22, 2022 at 5:30 a.m.
Vancouver, British Columbia: FIREWEED METALS CORP. (“Fireweed” or the “Company”) (TSXV: FWZ; OTCQB: FWEDF,
Gladiator Metals Announces Option Agreement to Acquire Whitehorse Copper Project
https://www.newsfilecorp.com/release/144175
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2022) - Gladiator Metals Corp. (TSXV: GLAD) ("Gladiator" or the "Company") is pleased to announce that it has entered into a Mineral Property Option Agreement (the "Option Agreement") dated November 8, 2022 with H. Coyne & Sons Ltd. (the "Optionor") whereby the Optionor has granted the Company the right to acquire a 100% legal and beneficial interest in all of the Optionor's title and interest (the "Option") in and to 315 contiguous mineral claims located in the Yukon (the "Whitehorse Copper Project" or the "Project"). Project highlights:
High Grade historical copper production of >10Mt @ 1.5% Cu produced (plus Au/Ag credits) via open pit (1967-1971) and underground (1972-1982).
Whitehorse Copper Project includes 30 known prospects within a 35km x 5km area. Shallow, high grade copper results from multiple prospects. Limited systematic drilling away from existing pits. All previous operations and residual reserves open along strike and down dip.
Approximately 10,000 metres of unassayed core from exploration drilling to be assayed and logged. Year-round access for work programs, good road and drill access network established, low-cost exploration due to proximity to Whitehorse and strong partnership with the Optionors, an experienced local drilling service provider.
Significant future exploration potential with drilling outside of historic areas of operation including:
Cowley Park: Most advanced prospect area with near term resource potential. Mineralization open at depth and along strike (mineralization drilled to max 150m vertical depth only). Historic drill hole intercepts include:
CP-144: 38.57m @ 1.76% Cu, 7.15 g/t Ag from 33.98m downhole
18-CP-03: 9.14m @ 2.0% Cu, 12.5 g/t Ag from 83.82m downhole
18-CP-06: 23.04m @ 1.91% Cu, 12.7 g/t Ag from 74.98m downhole
19-CP-08: 24.4m @ 3.71% Cu, 14.3 g/t Ag from 105.46m downhole
Other prospects within the project area, with historic drill hole intercepts, include:
War Eagle:
HT-1: 10.55m @ 4.99% Cu, 1.05g/t Au, 40.3g/t Ag from 124.39m
North Star:
NS-15: 14.63m @ 4.95% Cu from 419.65m.
The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results may not all conform to the presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling.
Given the proximity to Whitehorse, the Project will benefit from all year access, excellent infrastructure (local Yukon miner Minto Metals currently export copper concentrate from nearby Skagway) and a strong relationship with local partners for drilling services and developing positive community relations. With global copper metal demand currently forecast to outstrip future supply due to the global government's coalition focus on developing electric vehicle and clean energy markets for Net Zero 2050, the Project provides excellent exposure to potential high grade significant copper resources in a stable tier 1 jurisdiction.
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 property comprises 315 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District. The Whitehorse Copper Project covers a significant portion of what has historically been known as the Whitehorse Copper Belt. Gladiator Metals Corp. has entered into a 6-year option agreement with H. Coyne and Sons Ltd. to earn a 100% interest in the Project.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it became to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc. 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 skarn ore were milled (Watson, 1984).
The Project is road accessible with numerous access roads 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 and provide excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.
The Whitehorse Copper Project is located within the traditional territory of the Kwanlin Dün and Ta'an Kwäch'än Council First Nations. Gladiator acknowledges and respects the traditional territory of the Kwanlin Dün and Ta'an Kwäch'än Council First Nations and is committed to developing a respectful relationship with them.
The intrusive rocks of the region are predominantly granodioritic to dioritic and Cretaceous in age (109 - 199 Ma). They are thought to form the upper reaches of a large batholith belonging to the Whitehorse Plutonic Suite and intrude primarily into Triassic to Jurassic Lewes River Group clastic and carbonate metasediments. Throughout the Whitehorse Copper Project, skarning occurs variably through limestone horizons and along the contacts with the intrusive rocks. Skarn deposits within the Whitehorse Copper Project are considered exoskarns that formed within 150 m of the mid Cretaceous calc-alkaline Whitehorse Batholith contact; however, a number of endoskarns are documented within the intrusion as well. Two main types of skarn deposits are observed. Iron-rich, in which copper occurs with magnetite, serpentine, specularite, talc, chlorite and occasional pyrrhotite and pyrite and Iron-poor (calc-silicate) where copper occurs with garnet, diopside, wolastonite, tremolite, epidote, chlorite, calcite and quartz. The copper minerals occur as grains, blebs, pods and stringers that appear to postdate the skarn minerals. Bornite is predominant in the iron-rich skarns and is slightly more abundant than chalcopyrite in the silicate skarns. Silver content is proportional to the copper grade but gold is more erratically distributed, being more abundant in the iron-rich skarn deposits.
The last mining activity in the region ceased in 1982 with the closure of the Little Chief mine. With the acquisition of the claims by H.Coyne & Sons Ltd. in 1998 from Hudson Bay Mining and Smelting Co. Ltd, a fragmented land package was amalgamated, and a new phase of exploration began which focused primarily on drilling, trenching, geophysics, geology and surface geochemistry work. The most recent work on the Project has focused on defining and extending mineralization at the Cowley Park Copper deposit through diamond drilling. The recent drilling campaigns have returned drill core assay intervals consistent in grade with historical results.
The Cowley Park prospect is the Company's main focus during initial exploration. Cowley Park sits at the southern end of the Project and had reached feasibility stage before operations in the belt were shut down in 1982. Diamond drilling was carried out in the 1960's loosely defining the main zone mineralization and more thorough drilling was conducted in the early 1970's culminating in a total of ~125 holes and ~11,500 meters of core (Hureau, 1981).
Gladiator has recently compiled a digital database containing 475 drill holes within the current and historical project boundaries. Many of the drill holes are historical in nature and lack documented modern QA/QC methods, chain of custody documentation, proper GPS collar locations and down hole surveying and would not meet the standard for a current NI 43-101 resource estimate. The more recent drilling, from 2007 onward appears to have been conducted in a much more systematic manner but significant amounts of core is currently in storage and needs to be logged, sampled and assayed.
The Company is planning an initial work program which would include data compilation and digitization of the historical drill logs, geological mapping, surface geochemistry and geophysical surveys. Additionally, approximately 10,000 m of diamond drill core will be logged and assayed. A 250-line km ground-based magnetics survey should be conducted over the south-eastern portion of the Project where a 2014 airborne survey was not completed. Targets generated from this work will guide a follow up diamond drilling program.
Transaction Summary
Pursuant to the terms and conditions of the Option Agreement, in order to exercise the Option the Company must:
(i) issue the Optionor an aggregate of 15,000,000 common shares in the capital of the Company ("Common Shares"), as follows:
1,000,000 Common Shares (the "First Share Issuance") within five (5) business days of the Effective Date. For the purposes hereof, the "Effective Date" is the date that is three (3) business days following the TSX Venture Exchange's (the "TSXV") approval of the Company's acquisition of the Option in accordance with the Option Agreement;
3,000,000 Common Shares on or prior to the one (1) year anniversary of the Effective Date;
5,000,000 Common Shares on or prior to the three (3) year anniversary of the Effective Date; and
6,000,000 Common Shares on or prior to the six (6) year anniversary of the Effective Date;
(ii) pay the Optionor an aggregate of $300,000 in cash, as follows:
$25,000 within five (5) business days of the Effective Date;
$50,000 on or prior to the one (1) year anniversary of the Effective Date;
$100,000 on or prior to the three (3) year anniversary of the Effective Date;
$125,000 on or prior to the six (6) year anniversary of the Effective Date; and
(iii) incur an aggregate of $12,000,000 in exploration expenditures ("Expenditures") on the Whitehorse Copper Project, as follows:
$1,500,000 of Expenditures by the one (1) year anniversary of the Effective Date;
$4,500,000 of Expenditures by the three (3) year anniversary of the Effective Date; and
$6,000,000 of Expenditures by the six (6) year anniversary of the Effective Date.
Following the completion of the Common Shares issuances, cash payments, and incursion of Expenditures set forth above, the Option will be deemed to have been exercised, and the Company will have earned all of the Optionor's interest in the Whitehorse Copper Project. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project. Certain mineral claims forming part of the Whitehorse Copper Project are also encumbered by pre-existing royalties which the Company shall be responsible for following the exercise of the Option.
The Company has also (i) agreed to afford the Optionor a right of first refusal to undertake exploration or development programs on the Whitehorse Copper Project; (ii) granted the Optionor certain participation rights in future equity financings of the Company; and (iii) granted the Optionor the right to nominate one director to the Company's Board of Directors, commencing one year following the Effective Date.
The Company's acquisition of the Option constitutes a "Fundamental Acquisition" as defined in TSXV Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets. As such, completion of the Transaction is subject to approval by the TSXV and trading of the Company's Common Shares has been halted. It is not anticipated that approval by the Company's shareholders will be required. The Transaction is an arm's length transaction. In connection with the Transaction, the Company will also pay a finder's fee to an arm's length finder in an amount equal to the maximum permitted under the policies of the TSXV, payable in Common Shares.
All Common Shares issued in connection with the Option will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.
Stock Option Plan
The Company announces that its shareholders approved the Company's new 10% rolling stock option plan at the Company's Annual General Meeting held on August 11, 2022 of which there are currently 1,200,000 stock options issued.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Derek Torgerson P.Geo, a "qualified person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and Mr. Torgerson has confirmed that he has no objection to the technical information contained in this news release.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
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.
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 relate to, among other things TSXV approval of the Company's acquisition of the Option.
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.
Not for distribution to United States newswire services or for release, publication, distribution or
dissemination directly, or indirectly, in whole or in part, in or into the United States.
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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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