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Grid Metals Corp Updates Drilling Program at East Bull Lake
https://gridmetalscorp.com/news/grid-metals-corp-updates-drilling-program-at-east-bull-lake/
Toronto, Ontario, October 7, 2020 – Grid Metals Corp. (the "Company") (TSXV:GRDM) today provided an update regarding its 2020 exploration program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The Company is exploring for palladium mineralization along a 12-kilometre-long interpreted feeder structure. The East Bull Lake Property covers approximately 85% of the palladium-bearing East Bull Lake Intrusion, located approximately 80 km west of Sudbury, Ontario.
Highlights
-Drilling resumed in early September and to date four holes have been completed – assays are pending
-An additional three holes are planned
-The next hole will be in an area of anomalous palladium mineralization identified in surface grab samples taken in August 2020 including a maximum of 7.67 g/t Pd, 1.41 g/t Pt and 0.20 g/t Au in one sample from the Parisien Lake target area
-Initial work has been completed on metal tenors on drill samples from East Bull and results compare favourably with those typically observed in mill feed at the Lac des Iles palladium mine
Update on Drilling Activities
Since resumption of drilling on September 3rd four new drill holes have been completed including a follow-up hole on the Feeder Target in the Parisien Lake area and three holes drilled at the North Margin Target area. Three more holes are planned - two holes in the East Lobe of the intrusion and one additional hole in the Parisien Lake - Kidd Zone area. Completed and proposed hole locations for the current drilling program are shown on Figure 1, below. Samples have been submitted for assay analysis on three of the first four holes with results now pending.
Gungnir Announces Closing of Second and Final Tranche of Private Placement
SURREY, BC / ACCESSWIRE / October 5, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to announce that it has completed the second and final tranche of its previously announced non-brokered private placement of 3,333,333 units of the Company ("Units") for a total of 10,000,000 Units sold under the offering priced at $0.06 per Unit (the "Unit Price"), for total gross proceeds of $600,000 (the "Offering"). Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share (each, a "Warrant Share") at a price per Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
The net proceeds of the Offering will be used to continue the exploration program, inclusive of drilling, at the Company's 100% owned projects in Sweden, concentrating on the Knaften Gold zone and our two nickel resources, Rormyrberget and Lappvattnet.
All securities issued under the Offering are subject to a hold period expiring four months and one day from the closing date of the Offering.
As consideration for the services of certain finders, the Company paid a cash commission of 8% of the gross proceeds of the Offering and that number of non-transferrable finder units (the "Finder Units") as is equal to 8% of the aggregate number of Units sold under the Offering. Each Finder Unit was priced at $0.06 and consisted of one Common Share and one common share purchase warrant (each, a "Finder Warrant"). Each Finder Warrant entitles the holder to acquire one Common Share (each, a "Finder Warrant Share") at a price per Finder Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and application state securities laws.
About Gungnir Resources
Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with gold and base metal permits in northern Sweden. The Company's key project, Knaften, hosts high-grade gold, VMS (zinc-copper) and copper-nickel targets, and all are open for expansion and further discovery. The Company also holds two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, located east of Knaften. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.
I am now moderator here. Intro has been updated with a good overview. GLTY all.
Looking Ahead –
A Fast Mover in an Essential Industry
Finalize Location Study to select optimum future operating sites
Complete final processing research
Techno-Economic Study to define economic models
Execute contracts for monazite supply and REE offtake
Select and permit first operating location
Select financing and construction partners
MARKET CAPITALIZATION~ $10.8 million
INSIDER HOLDINGS~13%
Medallion Resources
SHARES ISSUED 48.8 million shares
+ 4.4 million options
+ 19.7 million warrants
FULLY DILUTED 73.9 million shares
TSX.V : MDL OTCPK : MLLOF
Medallion Resources Ltd is a Canadian public company, investing in technology for the safe, sustainable and low-cost production of rare earth elements from the widely available by-product mineral monazite. The Company is focused on an industrially relevant, early to market solution for these most critical raw materials. HIGH STAKESThe dramatic combination of a US-Chinese trade dispute with the tragic effects of the COVID-19 pandemic have highlighted strategic weaknesses and monopolies in many global supply chains, none more so than rare earth elements (“REE”). Ensuring secure access to critical raw materials and technologies in times of crisis has become an essential and enduring focus of industry and government during 2020. Rare earth elements, often in the form of high strength permanent magnets, are a small but essential addition to many defense and consumer technology products. China has dominated the production and value add stages of a growing rare-earth element industry for the past thirty years, as US and European manufacturing industries traded off supply security and strong environmental governance for low prices. REEs have been identified as critical raw materials in both the US and EU.Today, with REE demand set for unprecedented growth due to the essential role they play in electric vehicles and wind turbines, diversification of production away from China is essential. Medallion Resources is positioned to play a lead role in the future of rare-earth element supply.
Medallion Receives $741,000 from Warrant and Option Exercise
VANCOUVER, British Columbia, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), is pleased to report that during the quarter ended September 30, 2020 shareholders have exercised warrants and options for gross proceeds of approximately $741,000. The warrants and options were priced between $0.10 and $0.32 with an average exercise price of $0.21 per share.
“The recent over subscribed financing, in combination with the progressive exercise of warrants and options, has provided Medallion with an excellent working capital position,” said Mark Saxon, President & CEO. “We are grateful for the support of our shareholders and look forward to accelerating our rare earth element from monazite strategy during this pivotal moment in the industry.”
Medallion is focused on the development of a comprehensive rare earth element (“REE”) supply chain within North America. The Company has recently welcomed Talaxis Ltd as a shareholder and partner to support the sourcing of monazite feedstock and is reviewing downstream separation partnerships.
Monazite is used today as a source of REEs in both China and India, where it is considered an attractive feedstock due to its high REE content (up to 65% REE by weight) and the relative abundance of the magnet metals neodymium (Nd) and praseodymium (Pr).
About Medallion Resources
Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials.
More about Medallion (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.
Sept Interviews
Interview: from June
Looking like CCW is on sale.
Trumps test positive for Covid
Thanks Mason will take a look.
Regarding Grid, I keep thinking about how the last place Peck was exploring it was bought out for over $1 billion. And they say Grid resource area is about 5-6x bigger.
I recommend you listen to the beginning of this video. It discusses the demand and lack of it of palladium. Then the video continues with a Grid Metals presentation. This is why we are invested here.
It is disappointing that NR is having so little effect on the stock price. Once they do the ramp and start production it will be happy days. Not sure how long that will be. But continued drill results should at same point move us to new higher levels. That before the big move associated with production. Now at these levels is the time to take a substantial position IMO.
Recent interview
Someday this stock is going to explode from this price.
NEWS: Canada Silver Cobalt Expands Robinson Zone by 500 Percent, Intersects New High-Grade Vein
COQUITLAM, BC, Sept. 30, 2020 /CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce a major reinterpretation of the past-producing Gowganda Silver Camp, 75 kilometers southwest of Kirkland Lake, and vast expansion to the mineralized Robinson Zone at Castle East with just the first 9,000 metres in Phase 1 of the 50,000-metre drill program in this exciting high-grade grassroots silver discovery.
Highlights:
3,452 g/t silver over 0.4 metres downhole in hole CS-20-28 intersected 75 metres above Robinson Zone original intersection in an all-new vein
Targeted exploration area significantly enlarged up to 135 metres East-West, up to 100 metres North-South and up to 256 metres vertically – resulting in a 500% increase in known mineralized area
At least 4 new mineralized veins identified in the first 9,000 metres of 50,000 metre drill program
Strategic drilling has opened up at least 3 new veins – including 3,452 g/t silver over 0.4 metres (true width unknown) downhole – an all-new vein intersected in hole CS-20-28, 75 metres above Robinson Zone original intersection - at a depth of 347 metres. Additionally, the Company is very encouraged with the intersection of multiple, large carbonate veins at depth, conveying a strong plumbing network to the Robinson Zone and Castle East. These additional veins contain sufficient silver mineralization to justify further targeting them in search of potential high-grade mineralized panels. Mineralization is being added to the east-west lateral extent of the Zone along with new veins to the north and the south. The deposit model is continually updated to extract new and valuable structural and geochemical information.
Due to the early and significant successful progress to date - Canada Silver Cobalt Works has completed 18% of the initial, proposed 50,000-metre drill program – the Company is already considering expanding the program to follow up on the newly identified mineralized veins as well as to further expand the potential exploration horizon. There are currently 2 drill rigs on site drilling round the clock. The Company is redefining historic assumptions about silver exploration in the Gowganda Camp.
The uppermost mineralized vein intercept in hole CS-20-31 (assays pending) occurs less than 10 metres below the upper contact, at a vertical depth of 336 metres and the original high-grade vein intersection in hole CA-1108 grading 40,944 g/t silver (1,194 oz/ton) over a core length of 0.45 metres with a true width of approximately 7cm (refer to August 25, 2011, Gold Bullion Development news release) at a vertical depth of approximately 430 metres. Another deep mineralized vein was intersected in CS-20-22W3 (assays pending), the deepest one to date, at 592 metres vertical depth.With these recent new mineralized vein discoveries, the vertical extent of significant silver mineralization has now reached 256 metres.
Notably, vein intersections at Castle East exist in both the upper and lower parts of the Nipissing diabase sill, near the contact with the Archean volcanics, greatly enhancing the deposit potential of the area with implications for the broader Camp where historic production was predominantly within the upper half of the diabase sill. CCW now has a greater opportunity to expand the Robinson Zone since the potential mineralized horizon is much larger than originally believed.
Matt Halliday, P.Geo., VP-Exploration, commented: "We are excited about the drill program; we initiated a large-scale drill program and we are realizing the results. We have moved from a single vein at the Robinson to at least 4 mineralized veins, greatly expanding the potential for new high-grade panels. We have expanded the traditional mineralized horizon. It has been noted in literature that the upper third to upper half of the diabase sill is the mineralized horizon - it is now our belief that the entire diabase sill has the potential to be mineralized."
Property Map
Visit the Canada Cobalt website at https://canadasilvercobaltworks.com/ for an updated Castle Property Map, or click on the following link: https://canadasilvercobaltworks.com/projects/maps/
Location
The Castle Property is 15 km east of Pan American Silver's Juby gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.
Quality Assurance/Quality Control
Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a pulp-metallic analysis was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample. Swastika Laboratories is an ISO/IEC 17025:2005 certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (APGO) VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. In May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the east-trending Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020).
Canada Silver Cobalt's flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
Palladium price has done very well. If Grid could only release the expected discovery NR it should get really exciting around here. Hope we don't have to wait much longer.
Definitely disappointing thus far. What I really didn't like is NIA did not mention it lately. Hopefully we get some NR catalyst soon. For now going to hold as I have owned other NIA recommendations in the past that did exactly what this one is doing and I bailed out only to see it rocket later just as they said it would. Hope this one replicates that process also.
Medallion Resources forms Rare-Earth Elements Supply Chain consortium with a focus on U.S.
Not new but I don't think it was posted yet
Well today was certainly a good start for me. Long way to go. I think there is a good chance of this rising 100% by year end. What say you?
Gungnir Announces Strategic Investment by Palisades Goldcorp
SURREY, BC / ACCESSWIRE / September 14, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to announce that it has entered into an agreement with Palisades Goldcorp Ltd. ("Palisades") pursuant to which Palisades has agreed to purchase a non-brokered private placement of 6,666,667 units of the Company (the "Units") at a price of $0.06 per Unit (the "Unit Price"), for total gross proceeds of $400,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share (each, a "Warrant Share") at a price per Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
The net proceeds of the Offering will be used to continue the exploration program, inclusive of drilling, at the Company's 100% owned projects in Sweden, concentrating on the Knaften Gold zone and our two nickel resources, Rormyrberget and Lappvattnet.
Knaften Gold Zone
Gold mineralization at Knaften 300 is associated with disseminated arsenopyrite zones ranging from about 2 to 20 metres wide, typically 5 metres (core lengths). Drilling highlights from Gungnir and previous operators include:
14.07 g/t Au over 4.25 m (from 138.75 to 143.00 m) in hole KN19-06
5.39 g/t Au over 2.00 m (from 98.00 to 100.00 m) in hole KN19-09
3.45 g/t Au over 10.75 m (from 67.05 to 77.80 m) in hole 96009
3.20 g/t Au over 10.00 m (from 83.50 to 93.50 m) in hole 200707
2.92 g/t Au over 13.00 m (from 81.5 to 94.50 m) in re-sample 200707
3.11 g/t Au over 8.00 m (from 135.80 to 143.80 m) in hole 200714
2.13 g/t Au over 14.45 m (from 55.00 to 69.45 m) in hole KNA01001
2.01 g/t Au over 6.70 m (from 190.50 to 197.20 m) in hole 200710
2.89 g/t Au over 5.00 m (from 118.80 to 123.80 m) in hole 200715
Rormyrberget and Lappvattnet Nickel Properties
The Company holds the Rormyrberget and Lappvattnet nickel deposits, located in the same general area of the Knaften property. The two deposits collectively contain over 70 million pounds of nickel, 10 million pounds of copper and two million pounds of cobalt in historic resources. At Lappvattnet, the historical estimate is 1,139,000 tonnes at 0.91 per cent Ni, 0.19 per cent Cu and 0.02 per cent Co for 22.9 million pounds of Ni, 4.8 million pounds of Cu and 500,000 pounds of Co.
A qualified person for Gungnir Resources has not done sufficient work to classify the historical estimates as current resources, and Gungnir is not treating the historical estimates as current mineral resources. The Company is currently updating the historical estimate.
The technical information in this news release has been prepared and approved by Jari Paakki, P.Geo., CEO and a director of the Company. Mr. Paakki is a Qualified Person under National Instrument 43-101.
The Offering is expected to close on or about September 30, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange ("TSXV") and the applicable securities regulatory authorities. All securities to be issued under the Offering will be subject to a hold period expiring four months and one day from the closing date of the Offering.
As consideration for the services of certain finders, the Company will pay a cash commission of 8% of the gross proceeds of the Offering and that number of non-transferrable finder units (the "Finder Units") as is equal to 8% of the aggregate number of Units sold under the Offering. Each Finder Unit is priced at $0.06 and will consist of one Common Share and one common share purchase warrant (each, a "Finder Warrant"). Each Finder Warrant entitles the holder to acquire one Common Share (each, a "Finder Warrant Share") at a price per Finder Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
Southern Silver Closes Transaction to Acquire 100% Interest in the Cerro Las Minitas Silver Project; Closes Three Private Placements for Proceeds of $14.456 Million
Southern Silver Exploration Corp. (TSX.V: SSV) (the “Company” or “Southern Silver”) reported that it has closed the transaction with Electrum Global Holdings L.P. (“Electrum”) to acquire Electrum’s 60% indirect working interest (for a total 100% interest) in the Cerro Las Minitas project (the “CLM Project”) located in Durango, Mexico (the “Transaction”). As consideration for the acquisition, Southern Silver must pay Electrum an aggregate US$15 million in a combination of cash and common shares, of which US$5 million and 2,336,590 common shares (valued at US$1,006,403 which, together with a credit of C$1,350,000 deposit paid, represents the US$2,000,000 share equivalent payment) have now been paid. The remaining consideration must be paid on or before:
March 15, 2021: US$2 million and common shares equal to US$2 million (based on the greater of the 20-day volume weighted average trading price of Southern Silver’s shares on the TSX Venture Exchange (“VWAP”) and the Discounted Market Price (as that term is defined in the policies of the TSX Venture Exchange) of the shares (the “DMP”)); and
September 15, 2021: US$2 million and common shares equal to US$2 million (based on the greater of the prior 20-day VWAP and the DMP).
The Company has the option to pay all cash in lieu of shares. To secure above noted payments, the Company has pledged to Electrum the shares representing Electrum’s 60% indirect working interest in the CLM Project. Southern Silver has received both shareholder and TSX Venture Exchange approval of the Transaction.
Benefits to Southern Silver Shareholders:
Simplifies ownership structure of the CLM Project
Establishes full control over project timeline and removes perceived joint venture discount
Provides 100% ownership of a premier, polymetallic deposit in Mexico with substantial resource growth potential (with a focus on targeting high grade silver targets)
150% increase in attributable resources to current resource of Indicated: 134Mozs AgEq and Inferred: 138Mozs AgEq (1)
Highly accretive to Southern Silver shareholders
Electrum remains a supportive cornerstone investor
Southern Silver becomes a more attractive takeover target
Enhances the market profile of the Company relative to its peer group
Through the Transaction, Southern Silver will acquire an additional 49.9 million ounces silver and 1.35 billion pounds of combined lead and zinc to its account based on the current National Instrument 43-101 Mineral Resources estimate of the CLM Project. Additionally, Southern Silver will become more attractive on a corporate level with the Company’s market profile being enhanced by having ownership of one of the larger and highest grade, undeveloped silver projects in the world.
Lawrence Page, Q.C., Southern Silver’s President and Director, stated: “Sole ownership of the CLM Project inclusive of the significant resources developed to date allows us great latitude in developing the Project for substantial resource growth. The Transaction also provides a 150% increase in attributable resources which is highly accretive to Southern Silver shareholders. An extensive diamond drill program will begin within the next two weeks designed to develop previously identified mineralization east of the intrusion for ultimate inclusion into the existing resource calculation.”
Private Placements recently closed:
Brokered offering of 50,000,000 subscription receipts at a price of C$0.20 per subscription receipt for gross proceeds of C$10,000,000. Each subscription receipt has now been exchanged, for no additional consideration, into one unit of the Company. Each unit consists of one common share and one-half of one share purchase warrant, with each full warrant exercisable to purchase one additional common share at a price of C$0.25 during the first year, increasing to C$0.30 in year two and to C$0.35 in year three.
Non-brokered offering of 19,047,620 subscription receipts at a price of C$0.21 per subscription receipt for gross proceeds of C$4,000,000. Each subscription receipt has now been exchanged, for no additional consideration, into one unit of the Company. Each unit consists of one common share and one-half of one share purchase warrant, with each full warrant exercisable to purchase one additional common share at a price of C$0.28 during the first year, increasing to C$0.33 in year two and to C$0.38 in year three.
Non-brokered private placement of 1,200,000 units at a price of $0.38 per unit for gross proceeds of $456,000. Each unit consists of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at an exercise price of $0.50 per share for a period of three years.
Cerro Las Minitas Project
The CLM Project is an advanced exploration stage polymetallic Ag-Pb-Zn-Cu Skarn/CRD project located in southern Durango, Mexico.
The CLM Project as of May 9th, 2019 contains a Mineral Resource Estimate, at a 175g/t AgEq cut-off, of(1)
Indicated – 134Moz AgEq: 37.5Moz Ag, 40Mlb Cu, 303Mlb Pb and 897Mlb Zn
Inferred – 138Moz AgEq: 45.7Moz Ag, 76Mlb Cu, 253Mlb Pb and 796Mlb Zn
A total of 133 drill holes for 59,000 metres have now been completed on the CLM Project with exploration expenditures of approximately US$18.5 million equating to exploration discovery costs of approximately C$0.07 per AgEq ounce to the end of 2019.
Southern Silver has identified a further 10,000 metres in exploration drilling for 2020, targeting specific step-outs from strongly silver-enriched mineral intercepts in the Las Victorias, South Skarn and the Mina La Bocona targets. The targeting is designed to increase the current mineral resource estimate by approximately 30%. The CLM Project remains one of the larger undeveloped silver-lead-zinc projects in the world. It is fully permitted.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico’s Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA.
The 2019 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn values interpolated using ID3 weighting. Silver and zinc equivalent values were subsequently calculated from the interpolated block grades. The model is identified at a 175g/t AgEq cut-off, with an indicated resource of 11,102,000 tonnes averaging 105g/t Ag, 0.10g/t Au, 1.2% Pb, 3.7% Zn and 0.16% Cu and an inferred resource of 12,844,000 tonnes averaging 111g/t Ag, 0.07g/t Au, 0.9% Pb, 2.8% Zn and 0.27% Cu. AgEq cut-off values were calculated using average long-term prices of $16.6/oz. silver, $1,275/oz. gold, $2.75/lb. copper, $1.0/lb. lead and $1.25/lb. zinc. Metal recoveries for the Blind, El Sol and Las Victorias deposits of 91% silver, 25% gold, 92% lead, 82% zinc and 80% copper and for the Skarn Front deposit of 85% silver, 18% gold, 89% lead, 92% zinc and 84% copper were used to define the cut-off grades. Base case cut-off grade assumed $75/tonne operating, smelting and sustaining costs. All prices are stated in $USD. Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used to calculate the ZnEq value. Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource’s mineability, selectivity, mining loss, or dilution. The current Resource Estimate was prepared by Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the Mineral Resource Estimate. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM Project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.
On behalf of the Board of Directors
“Lawrence Page”
Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.
Canada Silver Cobalt Terminates IR Agreement
COQUITLAM, BC, Sept. 14, 2020 /CNW/ - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") announces that it has terminated its Investor Relations Agreement dated July 24, 2020 with GRA Enterprises LLC.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt's flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver-Cobalt District of Northern Ontario. With an important new discovery at Castle East, underground access at the Castle mine, a processing facility (TTL Laboratories) in the nearby town of Cobalt, a proprietary hydrometallurgical process known as Re-2OX, and the Beaver and Violet properties, CCW is strategically positioned to become a Canadian leader in the silver-cobalt space.
Ok I joined the party today and bought into Medallion. Buying based on the Gold Investment Letter recommendation. Did some DD and sounds like they are getting close to being able to produce REE. They are in a sweet spot as USA needs someone to be a domestic producer and seems there is no other company close to achieving that any time soon. Could not get a clear understanding of how close Medallion is to production.
Anyone here hear of a target for that?
There is no doubt that Tesla would be VERY interested in Giga. It makes perfect sense. I still think this will pullback after this flurry ends. Providing a better buy price prior to closing in on actual production.
While this pps is so low I am reposting this speculation. I just visited Impala Canada and see the news that it bought North American Palladium for $1 billion. Then note what the comments from previous post said about how much larger Grid deposit might become.
here is the post:
I conducted a Zoom webinar with CEO Robin Dunbar and David Peck last week about East Bull Lake. They have a lot of data, and have conducted significant MT surveys, geophysical, and surface work earlier this year to firm up targets for this initial program. Peck breaks down the similarities to Lac de Iles' geology in the webinar, except he believes that East Bull Lake could be 5-6 times larger!!!!
Did you get that. Lac De Iles sold for $1 BILLION and he thinks East Bull Lake deposit could be 5-6 times larger
So according to Dr. Peck's comments Grid Metals has Multi BILLION dollar potential.
That would be over $20 CDN / share. Using $2B/ 83 million shares. Something to fantasize about.
Time to load up and the is what I did. GLTy all
Canada Silver Cobalt Works aiming to unlock value to build a big player in Canada's heartland for the two metals
https://www.proactiveinvestors.com/companies/news/928903/canada-silver-cobalt-works-aiming-to-unlock-value-to-build-a-big-player-in-canada-s-heartland-for-the-two-metals-928903.html
Hard to tell how long this knee jerk reaction to Tesla news will continue but I bet once it peaks there will be a huge pullback. But long term this has a long way to go but that could be a year or so away till they close in on actual production.
Looking at Palladium's chart. It really has been doing very well. Grid sure does need a 'discovery NR so its pps can join the party.
My question is once this flurry ends how long till production?
Very reasonable plan. I had several PM stocks that I should have done that with because they ran over 100% and I sold then they had typical pull backs but then continues on much higher and I did not participate. Giga will definitely do that so holding will pay off.
Sure can and will. Especially with these slow moving projects.
Really don't know. The problem with this one is the time frame to production. Will be awhile. So will this type of news hold its gains until closer to production? Don't know. Hold and be patient will reward on long term. Short and mid term ???
That is big project
“The cost of developing our project, excluding bringing hydroelectric power to the site, will be less than $1 billion.”
Big news indeed and PPS reflects it.
After further review of the last NR they are being methodical and working their way towards the core deposit. I was hoping to have already heard what drill results of core will be. But they are not drilling there yet. Makes sense to working their way into the core so they know what they have and delineate the resource. I am just impatient and wanted the core drill answers first. So need to wait a bit longer. :( Believe it will be worth the wait.
Report on last 2 holes is disappointing.
Grid Metals Provides a Further Update at East Bull Lake Drilling Commences
TORONTO, ON / ACCESSWIRE / September 9, 2020 / Grid Metals Corp. (the "Company") (TSXV:GRDM) is pleased to provide an update on the ongoing 2020 diamond drilling program at its 100% owned East Bull Lake ("EBL") palladium property (the "Property") in Ontario. The Company plans to test the main structural zone on the property at several locations along its 12 km extent. In the first phase of drilling anomalous palladium grades were intersected in both of the targets tested at the Parisien Lake target area. The East Bull Lake Property covers approximately 85% of the palladium-bearing East Bull Lake Intrusion, located approximately 80 km west of Sudbury, Ontario.
HIGHLIGHTS
The final two holes from Phase 1 returned additional, anomalous palladium grades in association with the shallow geophysical anomaly that was tested;
Drilling has now resumed at the East Bull Property;
Several widely spaced drill holes are planned and these will test additional, near surface geophysical anomalies that are spatially associated with an interpreted 12 km long feeder structure; and,
Initially, two target areas will be tested but ongoing field investigations may prompt testing of a third area.
Plans for the Fall 2020 Drilling Program
Follow Up on Parisien Lake Drilling.
The first hole to be drilled in the fall campaign will test a stronger part of the near surface MT anomaly intersected in holes EBL20-04 to 07. The new hole will be collared several hundred metres to the east of hole EBL20-05 (Figure 1) in closer proximity to the interpreted main feeder to the intrusion - the Sables River structure.
North Margin Target Area
The Company also plans three holes in the North Margin area, an area of the East Bull Lake property with only one previous drill hole, EB12-05 (Figure 1). This hole is located 500 metres to the southeast of the southernmost of the planned holes. It intersected 5.50 metres averaging 1.91 g/t Pd and 0.44 g/t Pt including a 2.0 metre sub-interval with 4.26 g/t Pd and 0.89 g/t Pt. The three planned drill holes will be widely spaced and will cover an approximately 1.3 km long section of the near surface (i.e., 50-200m depth) MT anomaly that adjoins the Sables River structure in this area.
East Lobe South Margin Target Area
The Company currently has two drill holes planned for the East Lobe South Margin target area (Figure 1). The area has been the subject of extensive surface sampling that has defined two sub-parallel, east-striking zones of palladium mineralization (Central and South zones) located immediately west of the Sables River structure. Ongoing field investigations are focused on validating historical sampling and ground truthing several MT anomalies in the area. The holes will test both near surface Mt anomalies and significant, historical surface sampling results.
Quality Assurance and Quality Control
Grid Metals applies best practice quality assurance and quality control ("QAQC") protocols on all of its exploration programs. For the current drilling program, core is logged and sampled at a core facility located in the town of Massey, Ontario - approximately 30 km south of the property. NQ-size drill core samples are cut into halves using a diamond saw. Standard sample intervals of 1.00 metre length are used unless a major geological, structural or mineralization boundary is encountered. Samples are bagged and tagged and driven by Company consultants to ALS Laboratories' sample preparation and analytical laboratory in Sudbury, Ontario. ALS analyzes each sample for Pd, Pt and Au using a lead collection fire assay on a 30 g pulp split and an ICP finish. Copper, Ni and Co are analyzed by ALS using a multi-acid digestion and an ICP finish. The Company uses two PGE certified reference materials ("CRMs") and one analytical blank purchased from Canadian Resource Laboratories to monitor analytical accuracy and check for cross contamination between samples. One of the CRMs or the blank are inserted every tenth sample within a given batch. The analytical results for the two CRMs and the blank for the sample batches reported here did not show any significant bias compared to the certified values and the results fell within the acceptable limits of variability.
Dr. Dave Peck, P.Geo., has reviewed and approved the technical content of this release for purposes of National Instrument 43-101.
see charts:
https://ceo.ca/@accesswire/grid-metals-provides-a-further-update-at-east-bull
Giga Metals provides update on nickel market
September 9, 2020
(Vancouver) – Martin Vydra, President of Giga Metals Corp. (TSXV – GIGA) today provided an update regarding certain nickel market developments.
“We were not surprised to learn today about Vale’s decision to place their High Pressure, High Temperature Acid Leach (HPAL) operation in New Caledonia, commonly known as Goro, on care and maintenance” said Mr. Vydra. “HPAL is exceedingly complex and can be prone to failure. Even the best designed and constructed facilities must rely on experienced and well-trained personnel or they are likely to suffer setback after setback.”
Earlier this year the Ambatovy HPAL operation in Madagascar was also placed on care and maintenance. These two operations represent nameplate capacity of close to 120,000 tonnes per year of nickel and 10,000 tonnes per year of cobalt.
“The continued growth in lithium ion batteries relies on available nickel in the form of intermediates, powders or briquettes of which 2020 production is expected to total 477,000 tonnes according to Wood Mackenzie. Goro and Ambatovy represent 71,000 tonnes of that total in 2020, which demonstrates how tight the market could become,” continued Mr. Vydra. “400,000 tonnes of nickel equates to approximately 8 million Electric Vehicles (EVs) utilizing 50 kg of nickel per EV. That’s not too far in the future and when you consider that it takes anywhere from 5-10 years to bring a nickel operation such as HPAL into production, the nickel available for lithium ion batteries could be in deficit sooner than OEM’s and cathode manufacturers realize.”
Giga Metals is actively advancing its flagship Turnagain nickel sulphide deposit with the aim of sustainably producing 40,000 tonnes of nickel per year. The Company has been supporting work with the University of British Columbia on CO2 sequestration in the pursuit of producing environmentally friendly nickel with the objective of building one of the world’s first carbon neutral mines. For more information visit www.gigametals.com