Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks to Malcy's Blog
Eco (Atlantic) Oil & Gas
Eco has announced that it has signed a legally binding Letter of Intent pursuant to which its wholly owned subsidiary, Azinam Limited, will farm out 6.25% Participating Interest in Block 3B/4B, offshore South to Africa Oil SA Corp, a wholly owned subsidiary of Africa Oil Corp. Pursuant to the terms of the LOI, the completion of the Acquisition is subject to the satisfaction of customary conditions precedent including, but not limited to, the receipt of requisite regulatory approvals from the government of South Africa and the TSX Venture Exchange.
The consideration for the Acquisition is up to US$10.5m in cash, payable conditional on certain milestones as set out below:
· US$2.5m within 30 days of signing of the LOI;
· US$2.5m upon government approval for the transfer of the 6.25% interest in Block 3B/4B to Africa Oil;
· US$4m upon the completion of targeted farm out to a third party; and
· US$1.5m upon spud of the first exploration well in Block 3B/4B
On closing of the Acquisition, which is subject, amongst other things, to Section 11 approval for the transfer from the government of South Africa, TSXV approval and customary pre-emption provisions, the Block 3B/4B interests of the JV partners in Block 3B/4B will be as follows:
· Africa Oil SA Corp, a wholly owned subsidiary of Africa Oil Corp. and the Operator of the Block, holding a 26.25% Participating Interest;
· Azinam Limited, a wholly owned subsidiary of Eco Atlantic, holding a Participating Interest of 20%; and
· Ricocure (Proprietary) Limited, holding the remaining 53.75% Participating Interest.
The JV partners continue to progress the collaborative farm-out process, as previously announced, for up to a 55% gross working interest in the Block, with various potential parties.
As announced on 21 March 2023, the application process for a permit to drill one well and one contingent well (and potentially up to five wells) within an area of interest in the north of Block 3B/4B remains underway.
Completion of previously announced acquisition of additional interest in Block 3B/4B, South Africa
Further to the Company’s announcement of 27 June 2022, the Company can confirm that it will issue 1,200,000 new common shares of no par value in the Company to Lunn Family Trust in place of the US$500,000 cash consideration due in respect of the acquisition of the 6.25% interest in Block3B/4B from Lunn Family Trust. The Consideration Shares represent the full and final component of the completion consideration in respect of the acquisition announced on 27 June 2022 and there are no additional shares or cash due to the seller.
Gil Holzman, Co-Founder and Chief Executive Officer of Eco Atlantic, commented:
“We are very pleased to agree this transfer of a portion of our WI on the Block to our strategic alliance partner Africa Oil. The restructure of the WI will result in Africa Oil holding 26.25% and Eco 20% and will strengthen the JV position amid ongoing negotiations with third parties to farm into the Block and execute a drilling campaign. Since Africa Oil is already established as JV partner and Operator on the Block, receipt of the requisite regulatory approval for the transfer is expected to be straight forward.
“We look forward to continuing our work with the South African government and regulatory bodies in terms of our Environmental Authorisation process and in the active exploration of Block 3B/4B. The initial cash to be received from Africa Oil will enable Eco Atlantic to fund its growth opportunities elsewhere and with no shareholders dilution, while maintaining a strategic and considerable 20% working interest in this highly prospective Block (pre farm out to a third party).”
You can’t keep a good man down and Gil Holzman is one of those who regularly surprises with another deal which is just around the corner. Today he unveils a plan to raise some $10m+ without any dilution by admittedly bringing in fellow investors in the extremely prospective Block 3B/4B.
Myself and the international oil industry have been watching this acreage and of course I am also a huge fan of Africa Oil, a great company to be your partner here. Expect more deals as the time has now come for the partners to do more farm-outs and prepare to go to work on the Block.
The shares have fallen in the last few, quiet months, I do not expect this to continue as the excitement grows about 3B/4B where there is much potential, as I said, expect more surprises from Mr Holzman, Lechaim!
Thanks RT That is a great post by chico
American Creek's JV Partner Tudor Gold Intersects Wide Gold Intervals in Two 150 Meter Northeast Step-out Holes at the Goldstorm Deposit, Treaty Creek Property, Golden Triangle British Columbia
Highlights Include 1.31 g/t AuEQ over 337.5 Meters in Hole GS-23-167 and 1.01 g/t AuEQ over 412.5 Meters in Hole GS-23-164
Cardston, Alberta--(Newsfile Corp. - July 11, 2023) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has produced the first set of drill results for the 2023 exploration program (the "Program") at the flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
Since the beginning of this year's Program, Tudor has successfully completed over 12,000 meters (m) of drilling, within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The five drill holes reported in this release are located in the northeastern area of the Goldstorm Deposit. Click to view plan map and cross sections.
Ken Konkin, Tudor's President and CEO, commented: "We are very pleased to report the discovery of continued strong gold, silver, and copper mineralization outside the previously defined resource area with 150-m step-out holes GS-23-164 and GS-23-167. The overall strength and consistency of the Goldstorm system continues to amaze our technical team as the deposit remains open in all directions and at depth. Our continued success of these critical first-round results has prompted us to build several more drill pads designed to test all northern aspects to all domains as there appears to be no end in-sight to the Goldstorm Au-Cu-Ag mineralization as of yet.
Equally important was the success of definition hole GS-23-168 within a vast block of the 300H Domain. The goal is to increase drilling density to potentially upgrade this large block into the Indicated category from the Inferred category of the Mineral Resource. GS-23-168 intersected 309.0 m of 1.02 g/t AuEQ including an enriched portion averaging 1.40 g/t AuEQ over 204.0 m, with a core of 1.99 g/t AuEQ over 75 m. Based on these very encouraging results, we have decided to pursue the northern aspects of the Goldstorm Deposit with five drill rigs, leaving one exploration rig to further drill-test the Perfectstorm Zone."
Darren Blaney, CEO of American Creek, expressed his optimism for investors regarding the progress of the 2023 drill program. In response to the impressive results, he commented:
"It looks like we are off to a great start with the 2023 drill program. More step outs with wide intervals of strong mineralization and another significant expansion of the Goldstorm. What's not to like?"
GOLDSTORM DEPOSIT STEP-OUT DRILLING
SECTION 119+50 NE
GS-23-164, a 150 m northeast step-out was drilled to target the gold-dominant DS-5 Domain. Mineralization was encountered over a length of 412.5 m grading 1.01 g/t AuEQ (0.93 g/t Au, 6.26 g/t Ag, 0.01 % Cu), containing a higher-grade intercept of 124.5 m grading 1.51 g/t AuEQ (1.38 g/t Au, 11.54 g/t Ag, 0.01% Cu) with a very rich segment over 7.5 m of 11.56 g/t AuEQ (11.46 g/t Au, 9.34 g/t Ag, 0.01 % Cu). The DS-5 Domain remains open to the north and northeast. Another step-out drill pad was constructed 150 m to the north of this drill hole to allow continued exploration of the DS-5 Domain and the gold-copper dominant CS-600 Domain.
GS-23-167, a 150-m northeast step-out of the CS-600 Domain was drilled to expand the domain outside the northeastern edge of the 2023 Mineral Resource area. The drill hole returned an intercept of 337.5 m averaging 1.31 g/t AuEQ (0.87 g/t Au, 6.89 g/t Ag, 0.32 % Cu) with an enriched zone of 94.5 m averaging 1.80 g/t AuEQ (1.14 g/t Au, 9.87 g/t Ag, 0.47 % Cu). Additional step-out drill holes have been completed, or are currently underway, to continue expanding the CS-600 Domain (GS-23-169, GS-23-170, GS-23-172). Assays will be released when they are received and reviewed.
GOLDSTORM DEPOSIT DEFINITION AND INFILL DRILLING
SECTION 117+00 NE
GS-23-168: This hole intercepted unexpected 300-H Domain mineralization. Starting at 462 m, an intercept over a drill length of 309.0 m averaged 1.02 g/t AuEQ (0.96 g/t Au, 4.62 g/t Ag, 0.01 % Cu) with an enriched segment of 27.0 m grading 3.15 g/t AuEQ (3.07 g/t Au, 6.80 g/t Ag, 0.01 % Cu). This hole was shut down and had a wedge set at 684 m down hole to improve its target of the CS-600 Domain at depth. This wedged drill hole, GS-23-168-W1, is currently at a depth of 1900 m, drilling through a strongly mineralized area of the CS-600 Domain.
GS-23-163, GS-23-165: These drill holes were not sampled and shutdown early due to excessive drill hole deviation. Their original target was re-drilled as hole GS-23-168.
Read more at:
https://us5.campaign-archive.com/?e=6f11d69fd1&u=af629dcbbf88a5932a7e484e3&id=f5f8315bf2
AFRICA OIL ANNOUNCES AN INCREASE IN ITS OPERATED INTEREST IN BLOCK 3B/4B
VANCOUVER, BC, July 11, 2023 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to announce that it has entered an agreement to increase its operated working interest ("WI") in Block 3B/4B, located in the Orange Basin offshore South Africa and on trend with the Venus, Graff, La Rona and Jonker oil discoveries, for an additional 6.25% interest. View PDF version
An independent review of the prospective resources and probability of geological success of an inventory of exploration prospects within Block 3B/4B, has reported total unrisked gross P50 prospective resources of approximately 4 billion barrels of oil equivalent. Probability of success ranges from 11% to 39% over the 24 prospects identified.
The Company has signed a legally binding Letter of Intent ("LOI") with Azinam Limited ("Azinam"), a wholly owned subsidiary of Eco (Atlantic) Oil & Gas Ltd. ("Eco"), to acquire the 6.25% interest for a total cash consideration of USD 10.5 million, to be paid in tranches on the following milestones:
USD 2.5 million within 30 days after the signing of the LOI;
USD 2.5 million upon the government's approval for the transfer of the 6.25% to Africa Oil;
USD 4.0 million upon the completion of a farm-out deal to a third party; and
USD 1.5 million upon spudding of the first exploration well on the block.
Africa Oil is a major shareholder in Eco with a 15.02% shareholding. The Company's Directors other than Mr. Keith Hill, who is also a Director of Eco have reviewed and approved the terms of the LOI.
The Company will hold an operated WI of 26.25% subject to and, on the receipt of the government's approval for the transfer, with Azinam holding a 20.00% WI and Ricocure (Proprietary) Limited holding the remaining 53.75% interest.
The Company and its Block 3B/4B partners are progressing plans to conduct a two-well campaign on the block and are in discussions with various potential partners to farm out up to a 55% gross working interest in the Block. The Company and its partners have also selected a leading South African environmental consulting firm to conduct a comprehensive Environmental and Social Impact Assessment process in preparation for permitting and drilling activity on the block.
About Block 3B/4B
Block 3B/4B covers an area of 17,581 km2 within the Orange Basin offshore of the Republic of South Africa. This block lies to the southeast and on trend with number of oil discoveries including Venus and Graff. An independent review of the block's prospective resources has been completed by RISC Advisory (UK) Limited ("RISC"), in accordance with Canadian National Instrument 51-101 – Standards for Oil and Gas Activities ("NI 51-101"), the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and the Petroleum Resources Management System 2018 ("PRMS"). The effective date of RISC's report is March 7, 2023, and can be found on the Company's website: https://africaoilcorp.com/operations/project-overview/Â;
RISC has reviewed the prospective resources and probability of geological success of 24 exploration prospects within Block 3B/4B in accordance with the PRMS. The report provides an evaluation of prospective resources from a prospect inventory identified using 3D seismic data and follows completion of the reprocessing of 2,200 km2 of 3D seismic data and play-opening discoveries in Namibia including TotalEnergies' Venus discovery and Shell's Graff, La Rona, and Jonker light oil discoveries. These discoveries prove the existence of a working petroleum system for light oil, gas condensate and gas in the geological play fairway. The proven reservoirs in Graff and Venus discoveries are similar to Cretaceous reservoirs and geological plays that would be targeted in Block 3B/4B. Prospects in Block 3B/4B are identified using 3D seismic data to assess the presence of seismic attributes including amplitude-variation-with-offset ("AVO") or direct hydrocarbon indicators ("DHI's").
Thanks plumo
I could not agree with you more Walter.
Metals Creeks Discovers New High Grade Gold Mineralization with Assays up to 4.16 g/t Gold on the Shabaqua Corners Gold Property
Thunder Bay Ontario, , July 06 2023 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, FRA:M1C1) is pleased to announce the new discovery of additional high grade gold mineralization on the eastern portion of the Shabaqua Corners Gold Property. This new discovery is the second new gold discovery (See news release: June 21, 2023) over the last several weeks which is a part of an ongoing prospecting and geological mapping program.
The property is located within the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario near Shabaqua Corners and on trend to Delta Resources Delta 1 project. The property has seen very little exploration work.
Prospecting and mapping activities on the Shabaqua Corners Gold Property continues to uncover areas of new gold mineralization within prospective areas outside of the Main Zone mineralization (See news release: May 25, 2023). This new zone of gold mineralization (East Zone) is located 397m east of Main Zone and returned assays ranging from 16 ppb (parts per billion) to 4116 ppb (4.16 grams per tonne). Gold mineralization is hosted within carbonate altered sediments which include conglomerates with associated quartz-carbonate veining and local stockwork striking roughly the same orientation to that of the main zone. Alteration is made of up strong silicification with pervasive iron carbonate. Mineralization consists of trace to 6% disseminated to stringer pyrite with trace to 2% arsenopyrite also present. ( See figure 1 and figure 2). Cubic pyrite is common throughout the alteration system and appears to be an important component for the presence of gold. Preliminary interpretation indicates gold mineralization occurs at the contact with mafic volcanics and sediments which is a high priority target for upcoming exploration work. An exploration permit has been applied for, so trenching within this and other areas on the property will take place once the permit is received. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)
Management is highly encouraged with the recent success in discovering two new gold systems ( Echo Zone and East Zone) outside of the main zone mineralization over a short period of time, demonstrating the strong exploration potential for additional discoveries through systematic prospecting.
Prospecting and geological mapping is ongoing with the aim of further delineating known gold mineralization along strike of the recently discovered gold zones as well as continuing to evaluate other prospective areas of the property. Additional samples are currently at the lab awaiting results. MEK is also targeting potential parallel gold bearing structures as demonstrated within other projects within the Shebandowan Greenstone Belt.
The eastern boundary of the property is located 1.57 kilometers(km) west of Delta Resources (DLTA) drill hole DL-22-18 which returned an intercept of 5.92 g/t Au over 31m (Source: Delta New Release October 31, 2022). Trenching conducted on Delta’s ground 390m east of the property boundary, returned an interval of 2.22 g/t Au over 8m (Source: Delta Resources Website).
Thanks drumkids
THANKS FOR THE INFORMATION
Hey buxmaker
Any new and exciting info? Any news would be nice exciting or otherwise.
American Creek's JV Partner Tudor Gold Commences Drilling at Perfectstorm Zone and Provides Update at Treaty Creek Property, Golden Triangle British Columbia
Cardston, Alberta--(Newsfile Corp. - June 28, 2023) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has commenced drilling at the Perfectstorm Zone as part of the ongoing 25,000-meter (m) diamond drill program (the "Program") at Treaty Creek (the "Property"), situated in the heart of the Golden Triangle in northwestern British Columbia. Since the beginning of this year's Program, Tudor has successfully completed over 10,000 m of drilling, including infill and step-out holes within the area that encompasses the Goldstorm Deposit.
Tudor Gold currently has six drill-rigs in operation with four of these drill-rigs continuing to target mineralization at the Goldstorm Deposit. An additional drill rig was mobilized to test the northeastern extents of the Goldstorm Deposit, while the 6th drill rig is focused on the Perfectstorm Zone.
Ken Konkin, Tudor Gold's President and CEO, commented: "We are very excited to begin drilling at Perfectstorm, which is positioned equidistant between Tudor Gold's Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit (click to see Treaty Creek Property Map). Drilling at Perfectstorm will build upon the progress made through previous initial drilling of six wide-spaced drill holes spanning a strike length of 1.3 kilometers. These holes successfully intercepted substantial widths of favorable gold, silver, and copper mineralization. Notable results include hole PS-21-06, which encountered 118.6 m averaging 0.66 g/t gold. These results include an uppermost portion averaging 0.84 g/t gold over 59.9 m. Given that only a small portion of the targeted magnetic anomaly has been explored at Perfectstorm, there is immense potential for a significant expansion of the mineralized area, thus making it a valuable addition to the Treaty Creek Project. The first of several planned drill holes will be collared at least 400 m west and west-northwest of PS-21-06 over the best surficial gold-geochemical rock sample results obtained from our last two years of surficial mapping and sampling programs (click to see the Perfectstorm plan map and cross-section).
"Additionally, the drilling program at the Goldstorm Deposit has progressed exceptionally well this season. Several early 150 to 200-m step-out holes in the northern and northeastern area have intersected substantial sulphide and sulfosalt mineralization. As a result, the technical team has decided to construct new drill pads up to 300 m to the northeast, to target the potential extension of the deposit with the fifth drill rig. The expansion of the CS-600 and DS5 domains in this direction indicates further growth opportunities for the project as we are now drilling at full capacity with all six drill-rigs."
Tudor will provide results from the Program once the final assays are received and compiled.
American Creek's JV Partner Tudor Gold Provides Update on 2023 Exploration Program with over 5,400 Meters Drilled at the Treaty Creek Joint Venture Project, Located in the Golden Triangle of British Columbia
Cardston, Alberta--(Newsfile Corp. - June 7, 2023) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to report that project operator and JV partner Tudor Gold ("Tudor") has announced that significant drilling progress has been made on its 2023 exploration program (the "Program") at its flagship property, Treaty Creek, located in the Golden Triangle of Northwest British Columbia.
To date, Tudor has successfully completed over 5,400 meters of infill and step-out drilling, which forms part of a larger diamond drilling campaign spanning at least 25,000 meters. Currently, there are four drill-rigs in operation. Click to view plan map with drill hole locations.
The first hole of the season, GS-23-164, a 150-meter step-out to the northeast has successfully reached its intended depth, intersecting the DS-5 Zone. This intersection revealed mineralization and veining from 558 m to 1,083 m, including a consistently observed, strongly altered, stockwork vein zone from 885 m to 972 m, similar to previous DS-5 holes.
Another noteworthy drill-hole GS-23-167, a 170-meter step-out, recently entered the CS-600 Zone intercepting disseminated chalcopyrite with minor copper sulphosalts and several semi-massive chalcopyrite veinlets associated with strong silicification and potassic alteration. Click to view core photos. The Goldstorm system is now approaching 2,000 meters in length along the NE axis and remains open in all directions and at depth.
Based on the exciting results of holes GS-23-164 and GS-23-167, another step-out drill hole, GS-23-169, was collared and is currently at 357 m of a planned 1200 m depth targeting a further 150 m NE step out from GS-23-167 of the CS-600 Zone. Furthermore, Tudor's technical team is planning to construct two additional drill pads for future drilling activities located at approximately 150 and 300 meters further to the northeast. These new drill pad locations will enable continued exploration of gold-copper mineralization targeting the north and northeast extensions of the CS-600 and DS-5 zones.
In addition to the step-out holes, two infill holes are currently targeting areas of the Goldstorm Deposit to convert inferred resources to the indicated category. Hole GS-23-166-W1, is at 570 m of a planned 1150 m depth and targeting a pocket of inferred CS-600 ounces, as well as a northward expansion of the DS-5 zone. Hole GS-23-168 is at 1008 m of a planned 1800 m depth and targeting the deep CS-600 zone infilling between holes GS-22-157 and GS-21-113-W2.
Results from the Program will be provided by Tudor once final assays are received and compiled.
Ken Konkin, President and CEO of Tudor Gold, commented "The safe and efficient start-up of 2023 exploration campaign has been a huge success. We thank our good neighbours at the Brucejack Mine for allowing our ground crews to mobilize drills, equipment and supplies over our winter road by utilizing the Brucejack Mine access road. We have successfully completed this exercise over the past few years and we very much appreciate the assistance to allow our crews to safely get the job done. The recent drill intercept in our northeastern most hole GS-23-167 has prompted our technical team to construct more drill pads to target the northeastern aspect of the deposit as clearly the CS-600 domain continues to expand in this direction. Pad builders are now completing several set-ups for the two-remaining drill-rigs that are committed to drill the Perfectstorm Zone which lies equi-distant between our Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit. We anticipate the start-up of the two rigs at Perfectstorm over the next 2-3 weeks."
Read at:
https://americancreek.com/index.php/news/news-2023/598-mericanreeksartnerudoroldrovidespdateon20230607040503
If I remember correctly they stopped drilling when they had enough data to proceed with the first FS. The cost of drilling through the 200m or so before getting to the "good" stuff is very expensive.
I suggested a few months ago that the 2023 FS should include funds to drill 2-4 really deep holes to try to find the bottom. Also funds to define the outer edges of the overall ore body and maybe some infil holes. Maybe they could drill some key holes and then collar them when they enter the ore body to limit the cost.
I agree it would be nice to get a full picture of the ore body. Plus the information obtained could provide a periodic "boost" in the share price while the mine is being built. Also the ore coming up could be run through the operation in Canada to obtain processing information before the different mineral mixes have to be processed in bulk.
Jervois Global Limited
June 22, 2023
Highlights:
Jervois has been awarded a conditional €12 million grant from the Finnish government under the State business development body, Business Finland, to partially fund a potential expansion of Jervois’ cobalt refining capacity in Kokkola, Finland
The conditional grant recognises Jervois Finland’s innovations that improve environmental protection and its ESG leadership in the cobalt industry
Jervois Global Limited (“Jervois†or the “Companyâ€) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) is pleased to announce its 100%-owned subsidiary, Jervois Finland Oy (“Jervois Finlandâ€), has been awarded €12 million in reimbursable cash funding for its potential expansion of cobalt refining capacity at the Kokkola Industrial Park (“KIPâ€) from Business Finland, a Finnish State development body, subject to meeting certain conditions.
Jervois expects this Business Finland grant will allow Jervois to evaluate restarting work on the Bankable Feasibility Study (“BFSâ€) for a cobalt refinery expansion at KIP, as described in an announcement to the Australian Securities Exchange (“ASXâ€) on 16 May 2022 (titled “Jervois Commencing BFS Refinery Expansion at Kokkolaâ€). That work was paused in April 2023 in favor of a BFS for a new cobalt refinery located in the United States (“U.S.â€) to be fully funded by the U.S. Department of Defense (“DoDâ€).
Jervois expects its BFS for a U.S. cobalt refinery will share a flow sheet and other elements with the BFS for a Finland cobalt refinery expansion, creating synergies and timeline benefits to the U.S. project. Jervois expects its DoD-funded BFS for a U.S. cobalt refinery will continue independently of any future work on a BFS for a Finland cobalt refinery expansion.
This Business Finland grant is expected to reimburse part of its BFS costs and costs of any future construction of a Finland cobalt refinery expansion. The award relates to Jervois’ environmental, social and governance (“ESGâ€) strategies for the facility, namely for an intention to exceed the European Union’s (“EU’sâ€) environmental protection standards and to reinforce Jervois Finland’s existing position of ESG leadership in the cobalt industry.
The Business Finland grant will be released subject to satisfaction of a number of conditions, including Jervois Board approval (or final investment decision) to construct the facility; securing financing and receipt of certain environmental permits. The grant does not expire until the end of October 2024.
Jervois continues to evaluate cobalt refinery investments in both the U.S. and Finland. The Company only expects to progress these projects in circumstances where project economics are demonstrated to be robust, and where third-party financing is available for advancement of studies and construction. Jervois continues to engage with potential partners in industry with regards to such financing, including governments, automakers and other battery and or critical mineral value chain participants
Very nice, thanks
Can you provide the link and instructions on how to get behind the curtain?
Metals Creek Discovers Second Zone of Gold Mineralization on the Shabaqua Corners Gold Property
Thunder Bay Ontario, 20 June, 2023 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, FRA:M1C1) is pleased to announce the discovery of a second zone of gold mineralization through prospecting on its recently acquired Shabaqua Corners property.
The property is located within the Shebandowan Greenstone Belt, approximately 54 km west of Thunder Bay, Ontario near Shabaqua Corners and on trend to Delta Resources Delta 1 project. The property has seen very little exploration work.
This round of field activities on the Shabaqua Corners Gold Property concentrated on areas outside of the main zone mineralization, which is hosted within an east-west trending zone of silicification, pyritization and pervasive carbonate alteration. Nine samples were collected 235m northwest of the main mineralized zone (See news release: May 25, 2023) (See table 1 below, assay results), with assays ranging from 0.084 to 3.45 grams per tonne (g/t) Gold (Au). Gold mineralization is hosted within an altered conglomerate with associated quartz-carbonate veining and local stockwork striking roughly the same orientation to that of the main zone.(see figure 1 below, echo zone location). Alteration consists of pervasive iron carbonate with strong silicification and mineralization entails trace to 5% disseminated to stringer pyrite with trace arsenopyrite and galena also present.(see figure 2 below, sample GCS-23-017). An exploration permit has been applied for so trenching in this and other areas on the property can take place when the permit is received. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)
Prospecting and geological mapping is ongoing with the aim of further delineating known gold mineralization along strike as well as continuing to evaluate other portions of the property. MEK is targeting potential parallel gold bearing structures as demonstrated within other projects within the Shebandowan Greenstone Belt.
Alexander (Sandy) Stares states “these assay results confirm the presence of gold mineralization outside of the known historical gold mineralization. Permits have been applied for and we are excited to begin trenching prospective targets once permits have been received.”
So the GXII people got their money back even if they liked the project. Then a few weeks after the dust settles they can buy back the position they would have had if the had not redeemed all at a lower price.
Hmmm the saying "Having your cake and eating it too" comes to mind. Having their position in a project they like and having some profit. Not bad financial engineering.
Petro Matad from Malcy's Blog
June 20, 2023
we are delighted to have spudded Velociraptor-1
2022 Operational Highlights
The Company continued to push the Mongolian government and authorities to register Block XX Exploitation Area as special purpose land.
Negotiations with DQE Drilling entered their final stages for a multi-well development drilling contract with the Company securing cost reductions that can make a real difference to project cash flows and asset value.
Block V project readiness continued with a cost-effective drilling solution found for Velociraptor.
MRPAM announced an Exploration Licensing round covering 14 blocks in the prospective fairways of the southern half of the country.
Petro Matad continued to explore opportunities in the Mongolian renewables sector following Board approval to do so.
Current situation
On Block XX, the Company continues to push government on certification of the Exploitation Area as special purpose land and finally conclude the process. The Ministry of Construction and Urban Development has completed its internal work and has submitted the documentation to all other government ministries for comment prior to submission to Cabinet.
The Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia spudded on 13 June, targeting an inversion anticline prospect estimated to have 200 million barrels (MMbo) of Mean Prospective Recoverable Resource potential. Encouraging results in the Velociraptor prospect would significantly de-risk two adjacent prospects on the Raptor Trend which together have Mean Prospective Recoverable Resource potential of an additional 375 MMbo.
The Company raised US$6.6 million through a capital raise that will allow the Company to test the low-cost, high impact Velociraptor exploration prospect, evaluate new areas offered for licencing by the Mongolian government in the 2022/23 tender round and explore renewable energy projects.
The Company formed a joint venture (JV) with a very active and successful Mongolian renewable energy project developer called SunSteppe Energy (“SunSteppe”). This JV will give the Company an opportunity to compete in Mongolia’s growing renewables sector.
2022 Financial Highlights
As of 31 December 2022, the Group’s cash position was $5.1 million (Financial Assets) (31 December 2021: $8.2 million)
The Group’s net loss after tax for the twelve months ended 31 December 2022 was $2.95 million (31 December 2021: loss $2.1 million)
Mike Buck, CEO of Petro Matad, said:
“2022 saw an easing of Covid-19 related delays that had impacted service providers and cross-border activity. We were pleased that we were able to progress our preparations for Heron development, our negotiations with DQE Drilling and to continue our investigations on the Block V Exploration PSC.
This year we hit the ground running and set to work on a capital raise to allow Petro Matad to move ahead with testing the low-cost, high impact Velociraptor exploration prospect and evaluate new areas offered for licencing by the Mongolian government. We have also ventured into the renewable energy sector in Mongolia through the SunSteppe Renewable Energy joint venture which we hope will generate near term opportunities for us and our partner.
We continue to push forward with our 2023 work programme which of course includes urging the government to certify Petro Matad’s Block XX Exploitation Area as special purpose land. Meanwhile we are delighted to have spudded Velociraptor-1 which we have wanted to drill for some time. Encouraging results here would significantly de-risk two adjacent prospects on the Raptor Trend which together have a resource potential of an additional 375 MMbo.
I would like to thank our loyal shareholders for their continued support and hope that the recent spudding of the Velociraptor well demonstrates our firm commitment to our work programme. I very much look forward to updating you in the coming months with our progress on multiple workstreams that are now in play.”
Nothing new here, excitement about Velociraptor and no deal on Block XX.
Metals Creek Discovers New Mineralization Up to 11.4 g/t Gold on the Bag Lake Claim Block in Flint Lake JV Property
Thunder Bay Ontario, June 14, 2023 - Metals Creek Resources Corp. (the “Company” or Metals Creek, TSXV: MEK, FRA:M1C1) is pleased to announce that the Company has discovered new gold mineralization on the Bag Lake claim block within the Flint Lake JV property while performing prospecting in May 2023.
The Property is operated through a joint venture agreement with Endurance Gold Corporation (“Endurance”, TSXV: “EDG”), in which Metals Creek holds an 81.3 % interest in the property and EDG holds the remaining 18.7%. The Flint Lake Property lies within the central portion of the east-west trending Wabigoon geological sub-province and is host to numerous underexplored greenstone hosted gold occurrences. This western portion of the Wabigoon greenstone belt is an emerging gold camp with developing projects from the Cameron Lake deposit by First Mining Gold and recently commissioned New Gold’s Rainy River Mine.
14 grab samples were taken from the new zone of mineralization with assays ranging from 93 parts per billion (ppb) gold (Au) to 11,400 ppb Au (11.4 grams per tonne (g/t) Au). Gold mineralization is hosted within pervasively carbonatized mafic volcanics with associated silicification. Strong pyrite mineralization is present ranging from 2-10% exhibiting both cubic and finely disseminated textures with local trace galena. Quartz veining and stockwork shows an association with the finely disseminated sulphides and chlorite along contacts. To date within the Bag Lake claim block, 3 parallel promising gold zones have been outlined as illustrated on figure 1 with limited work carried out on each. Follow-up sampling/prospecting will take place later in the summer to further evaluate the on-strike extent of the newly discovered gold mineralization and determine if this new zone is an on-strike extension of the previously defined middle gold trend. (Note: The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades of the property.)
from Malcy's Blog
Petro Matad has announced that the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia spudded on 13 June. The well is the first on the Raptor Trend of prospects located 7km south of the Snow Leopard-1 well drilled in 2018 that proved a working petroleum system in the Taats Basin. Velociraptor-1 is targeting an inversion anticline prospect estimated to have 200 million barrels (MMbo) of Mean Prospective Recoverable Resource potential and is planned to drill to a total depth (“TD”) of circa 1,500 metres. The well is expected to take circa 30 days to reach TD and encouraging results in the Velociraptor prospect would significantly de-risk two adjacent prospects on the Raptor Trend which together have Mean Prospective Recoverable Resource potential of an additional 375 MMbo.
Block XX Exploitation Licence
On Block XX, the Ministry of Construction and Urban Development has completed its internal work on the certification of the Company’s Exploitation Area as special purpose land and has submitted the documentation to all other government ministries for comment prior to submission to Cabinet. We continue to press the relevant authorities to conclude this process.
The well that some thought might never get drilled is underway as Velociraptor-1 has spudded in the search for some 200 million barrels of oil and we will all know in around a month’s time the result of a well which could open up the adjacent Raptor prospects for another 375 MMbo.
Oh, and the certification of Block XX still awaits submission to Cabinet but surely…
As a stock holder in Jervois I was happy to see the EXIM bank interest but not happy with the Cobalt price decrease and the construction halt.
I do not expect any problem with NioCorp.
Thanks Scabender, good to know
American Creek's JV Partner Tudor Gold Provides Update on 2023 Exploration Program with over 5,400 Meters Drilled at the Treaty Creek Joint Venture Project, Located in the Golden Triangle of British Columbia
Cardston, Alberta--(Newsfile Corp. - June 7, 2023) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to report that project operator and JV partner Tudor Gold ("Tudor") has announced that significant drilling progress has been made on its 2023 exploration program (the "Program") at its flagship property, Treaty Creek, located in the Golden Triangle of Northwest British Columbia.
To date, Tudor has successfully completed over 5,400 meters of infill and step-out drilling, which forms part of a larger diamond drilling campaign spanning at least 25,000 meters. Currently, there are four drill-rigs in operation. Click to view plan map with drill hole locations.
The first hole of the season, GS-23-164, a 150-meter step-out to the northeast has successfully reached its intended depth, intersecting the DS-5 Zone. This intersection revealed mineralization and veining from 558 m to 1,083 m, including a consistently observed, strongly altered, stockwork vein zone from 885 m to 972 m, similar to previous DS-5 holes.
Another noteworthy drill-hole GS-23-167, a 170-meter step-out, recently entered the CS-600 Zone intercepting disseminated chalcopyrite with minor copper sulphosalts and several semi-massive chalcopyrite veinlets associated with strong silicification and potassic alteration. Click to view core photos. The Goldstorm system is now approaching 2,000 meters in length along the NE axis and remains open in all directions and at depth.
Based on the exciting results of holes GS-23-164 and GS-23-167, another step-out drill hole, GS-23-169, was collared and is currently at 357 m of a planned 1200 m depth targeting a further 150 m NE step out from GS-23-167 of the CS-600 Zone. Furthermore, Tudor's technical team is planning to construct two additional drill pads for future drilling activities located at approximately 150 and 300 meters further to the northeast. These new drill pad locations will enable continued exploration of gold-copper mineralization targeting the north and northeast extensions of the CS-600 and DS-5 zones.
In addition to the step-out holes, two infill holes are currently targeting areas of the Goldstorm Deposit to convert inferred resources to the indicated category. Hole GS-23-166-W1, is at 570 m of a planned 1150 m depth and targeting a pocket of inferred CS-600 ounces, as well as a northward expansion of the DS-5 zone. Hole GS-23-168 is at 1008 m of a planned 1800 m depth and targeting the deep CS-600 zone infilling between holes GS-22-157 and GS-21-113-W2.
Results from the Program will be provided by Tudor once final assays are received and compiled.
Ken Konkin, President and CEO of Tudor Gold, commented "The safe and efficient start-up of 2023 exploration campaign has been a huge success. We thank our good neighbours at the Brucejack Mine for allowing our ground crews to mobilize drills, equipment and supplies over our winter road by utilizing the Brucejack Mine access road. We have successfully completed this exercise over the past few years and we very much appreciate the assistance to allow our crews to safely get the job done. The recent drill intercept in our northeastern most hole GS-23-167 has prompted our technical team to construct more drill pads to target the northeastern aspect of the deposit as clearly the CS-600 domain continues to expand in this direction. Pad builders are now completing several set-ups for the two-remaining drill-rigs that are committed to drill the Perfectstorm Zone which lies equi-distant between our Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit. We anticipate the start-up of the two rigs at Perfectstorm over the next 2-3 weeks."
The Program
The 25,000 m diamond drilling program at Treaty Creek has been designed to test the north and northeast mineral extensions of the Goldstorm Deposit where drilling in 2021 and 2022 intercepted the highest grades of gold, copper and silver mineralization at the Treaty Creek Project. These results contributed to a significantly upgraded Mineral Resource Estimate (the "March News Release"), which reported an Indicated Mineral Resource of 23.37 million ounces (Moz) of gold equivalent (AuEQ) grading 1.13 g/t AuEQ and an Inferred Mineral Resource of 7.35 Moz of AuEQ grading 0.98 g/t AuEQ. In addition to the northern step-out drilling at the Goldstorm Deposit, Tudor plans to carry out exploration drilling at the Perfectstorm Zone ("PSZ") to follow up on six drill holes that were drilled in 2020 and 2021 which all intercepted gold and silver mineralization, highlighted by hole PS-21-06 which returned 118 m of 0.66 g/t gold, 3.69 g/t silver including 31.5 m of 0.84 g/t gold, 6.09 g/t silver. PSZ is a gold-dominant mineralized system measuring 1.3 kilometers (km) in strike length and is located approximately 2.5 km southwest of the Goldstorm Deposit and approximately 2.5 km northeast of Seabridge Gold's Iron Cap Deposit near the southwestern boundary of the Treaty Claim block.
Nice The work being done up in Canada appears to provide NioCorp with opportunities to move a portion of our product from a "commodity chemical" to a "specialty chemical" category. Should mean higher $/kg selling prices, all good in my opinion.
Thank you.
Hey th6565. I have a few Niocorp warrants how do I calculate how many Nb shares I could convert them to, assuming I scrounged up the conversion price?
Thanks for the recap Chico.
Did I read that the master alloy that we are working on with Nanoscale Powders have 5% Sc versus the typical 2% Sc master alloys.
Nothing to worry about. In my mind that straightarrownews.com is nothing but a hit job.
Appia Receives Positive Assays Results – Announces Plans To Proceed With The Acquistion Of Ionic Clay Project, Brazil
269 SAMPLES SHOW POSITIVE CORRELATION TO VENDOR’S RESULTS
TORONTO, ONTARIO, May 30, 2023 - Appia Rare Earths & Uranium Corp. (the “Company” or “Appia”) (CSE: API, OTCQX: APAAF, Germany: “A0I0.F”, “A0I.MU”, “A0I.BE”) has received a partial set of results from their 15 hole due diligence drilling program completed in April 2023 that confirm the continuity of grade between this representative sample and the Vendor’s assay results on The Cachoeirinha Project (the “PCH Project”) located in the Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil. (Click here for the Press Release).
“As previously announced, we drilled 15 auger holes twinning a representative mix of trenches, drill and auger holes across the western portion of the property and the partial assay results received from the SGS Geosol labs in Brazil have now confirmed that the data presented by the Vendor is accurate and acceptable to Appia’s Management and the Board,” stated Stephen Burega, President of Appia.
He continued, “I am extremely pleased to announce that the Company intends to finalize the previously announced Letter Agreement (see March 7, 2023 Press Release) to acquire up to a 70% ownership interest in the PCH project and move to signing a binding Shareholder’s Agreement.”
“Based on my review of the work completed to date by Appia and the Vendor, the PCH project is an ionic abosortion clay structure covering a large project area with significant potential,” stated Mr. Don Hains, industrial mineral expert and consulting geologist to Appia.
Appia and the Vendor are also currently working with SGS Canada to undertake initial mineralogy testing on samples from the PCH property, and anticipate submitting additional samples over the next quarter.
Once the Shareholder’s Agreement has been executed, Appia plans to commence an initial work program in early July 2023 including:
A detailed Lidar Survey across the entire PCH property
Begin an auger drill program of the primary target area on the Western segment of the PCH property at 100m line spacing
Assay sampling will be done at ½ metre intervals
Begin an initial stream sediment and soil geochemical sampling program on the highly prospective Eastern segment of the PCH property
Initiate an environmental baseline study across the property
Undertake additional mineralogical and metallurgical work in support of preliminary flow sheet design
“We are currently working closely with Mr. Don Hains to review all work completed to date by the Vendor over the past three years, including our recent due diligence results, to prepare a report on the potential of the property, and to develop a proposed multi-phase work program for next the 12 months,” Burega stated.
Early indications are that the mineralogy is primarily bastnaestite and monazite with clays that are preferentially enriched in the valuable magnetic rare earth elements. Historic work by the Vendors indicates that the magnetic REEs represent +/- 25% of the total REEs found within the project area.
Appia Announces Commencement Of Its 2023 Exploration And Drilling Programs At Its Alces Lake Project In Saskatchewan
TORONTO, ONTARIO, May 29, 2023 - Appia Rare Earths & Uranium Corp. (the “Company” or “Appia”) (CSE: API, OTCQX: APAAF, Germany: “A0I.F”, “A0I.MU”, “A0I.BE”) announces the initial mobilization of its field crew at its 100%-owned Alces Lake Rare Earth Elements (REES) Property, Northern Saskatchewan.
“The 2023 work season will be highly focussed on determining high priority drill targets along the mineralized structural corridor leading SSE from the Magnet Ridge for upwards of +20 kms,” stated Stephen Burega, President of Appia. “Targets will be chosen based on their radiometric signature, and followed-up by extensive ground-truthing with spectrometers and a handheld XRF unit to ensure our drill campaign tracks the continuity of mineralization controlled by this important structural corridor. It is hoped that new surface zones will contain high-grade REE mineralization as well as near surface bulk tonnage variable-grade mineralization will be discovered with the potential to increase total volume/tonnage on the property.”
Based on our 2022 drilling results and new geophysical interpretation of the data, the Company will embark on a 5-phase program comprising an aggressive prospecting & sampling program, followed up by selective drilling of priority targets, and airborne gravity-magnetics-radiometrics at 100 m line spacing of 2 the identified high priority areas on the property (the eastern structural corridor and Alces Lake North).
Mobilization of the field crew will take place over the next 2 weeks.
VP Exploration Irvine R. Annesley is pleased that these airborne radiometrics/magnetics/3D gravity gradiometer surveys will be undertaken to fully delineate, characterize, and interpret this distinct structural corridor. He expects that "Our increasing understanding of the complex lithological and structural context of the Alces Lake REE minerals system, adjacent to/within the main structural corridor, will ultimately enhance our potential for the discovery of additional mineralized zones at depth along this mylonitic shear zone".
“The Alces Lake Property contains variable grade REE mineralization; including high-grade with some of the highest-grade total REE mineralization in the world and hosted within a number of surface and near surface occurrences that remain open at depth and along strike”, stated VP Exploration Irvine Annesley. “The United States and Canadian governments are actively pursuing critical REE resources to build a domestic REE supply chain within North America, and hope to see the Alces Lake project as part of the answer to this demand.”
Planned 2023 Exploration Program
The Exploration Program is scheduled to start in early June and is planned to include the following 5 phases:
Phase I
Helicopter-supported detailed regional ground prospecting, mapping, and sampling of the structural corridor area
Helicopter-supported detailed regional ground prospecting, mapping and sampling over historic REE occurrences of the Alces Lake North area
Phase II
5,000 m of helicopter-supported diamond drilling of 1) priority targets following the strike extension south-southeast from the Wilson, Richard, Charles, Bell, Ivan, Dylan, Dante, and AMP zones through the Magnet Ridge Zone for ~20 kms, 2) the southern extension of The Magnet Ridge Zone (delineation drilling), and 3) reconnaissance drilling on priority regional geological/geophysical targets in the Western Anomaly area;
Phase III
Airborne gravity-magnetics-radiometrics (AGG) geophysical survey of the structural corridor (Figure 1) at 100 m line spacing o map the REE minerals system of the structural corridor area from surface to depth in order to prioritize drill targets;
Phase IV
Airborne gravity-magnetics-radiometrics (AGG) geophysical survey of Alces Lake North at 100 m line spacing to map the REE minerals system of Alces Lake North from surface to depth in order to prioritize drill targets;
Phase V
Mineralogical/petrological characterization (IRAP study) of the major REE zones/subzones at WRCB-Ivan-Dylan-Dante and Magnet Ridge to understand/interpret the enigmatic complex minerals system at Alces Lake. Note: PhD research indicates that the mineralization is protracted and pulsed over ~90 Ma (~90 million years of sustained anatectic melting to produce the low- to high-grade REE mineralization at Alces Lake).
News Release Issued: May 29, 2023 (4:30am EDT)
AFRICA OIL ANNOUNCES THE RENEWAL OF OML 130 LICENSE
VANCOUVER, BC, May 29, 2023 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") is pleased to note the press release by TotalEnergies announcing the renewal of Oil Mining License ("OML") 130 for a period of 20 years. Africa Oil has an effective 8% interest in OML 130 through its 50% shareholding in Prime Oil & Gas Coöperatief U.A. ("Prime"). The renewal of OML 130 means that Akpo, Egina and Preowei fields will operate under the terms of the new Petroleum Industry Act ("PIA"), being the first assets to effectively benefit from the PIA fiscal terms. .
This license renewal, a condition precedent to the closing of Prime's debt refinancing, will allow Prime to enhance its debt capacity, reset its tenor to 6 years and materially increase its near-term liquidity capacity. Closing of the refinancing, expected in the next few days, will provide Prime with the scope to distribute dividends to its shareholders, including Africa Oil, during this year.
The renewal of OML 130 will also allow the Company to increase the available amount of its standby corporate credit facility to $200.0 million from $100.0 million currently, significantly increasing its liquidity. This facility, which is currently unutilised, is available to be drawn until October 20, 2023.
Africa Oil President and CEO Keith Hill commented: "The renewal of OML 130 is very good news for the Company and its shareholders. This license is the core of our Nigerian investment and accounts for most of Prime's production and cashflows. It also includes attractive growth opportunities such as the undeveloped Preowei oil discovery, which we can now take forward towards a final investment decision. Additional opportunities include step-out exploration and appraisal drilling, that should support production rates over the coming years.
Africa Oil has a debt-free balance sheet with significant liquidity headroom and a balanced portfolio of production and development assets in Nigeria, plus the industry's most exciting appraisal and exploration campaign in Namibia's offshore Orange Basin. Drilling at the Venus-1A well is progressing well and we look forward to updates from the operator in the coming weeks."
Nice finds chico, thanks for posting.
Thanks for posting the link.
Thanks for posting that link Plumo
Thanks for the information. I envy the Dutch speakers, each speaker/company is one I have interest and investment in.
I look forward to Grunts estimate in profit improvement from the recent announcement about Ti.
Thanks for your estimate Grunt. I may not agree with your estimate of a 50-50 split. Even a 75%(FeNb)-25%(NbO) would be a substantial boost in the project's profit.