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SKYG.v $SRKZF Sky Gold Corp. Acquires Three Nickel-Copper-Cobalt-Platinum Group Element Properties in The Shebandowan Greenstone Belt, Northwestern Ontario https://ceo.ca/@accesswire/sky-gold-corp-acquires-three-nickel-copper-cobalt-platinum
ILI.v $ARXRF Solid recovery week here after the breakout above the 0.095-.10c res level, SLO STO's show the power of the move, we haven't been at these levels since we ran to 0.28 in Nov 21 timeframe. MACD above 0 and rising, ADX strengthening with DI+ in extreme bullish territory both show things are on the upswing...nice. https://schrts.co/FsUzEvVf
ILI.v $ARXRF Imagine Lithium Makes New Lithium Discovery Near Jackpot Lithium Main Zone
https://ceo.ca/@newsfile/imagine-lithium-makes-new-lithium-discovery-near-jackpot
ILI.v $ARXRF Weekly T/A
+37.5% on the week so far, MACD on the weekly finally clearing the zero level...nice...clearing this 0.10c longstanding resistance opens the possibility of a move to test 0.135 next significant level I have , cheers,
hsb
https://schrts.co/VGZtzaZK
GLM.ca $GOLXF Golden Lake Obtains High-Grade Gold, Silver, Lead & Zinc Assays from Sampling on Its Jewel Ridge Property, Eureka County, Nevada
by @accesswire on 19 Jan 2023, 06:03
VANCOUVER, BC / ACCESSWIRE / January 19, 2023 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (OTCQB:GOLXF) is pleased to announce the results of surface rock sampling undertaken on its flagship Jewel Ridge property (the "Property"), located in the prolific Battle Mountain-Eureka gold belt of Nevada. The Property is situated along structural and stratigraphic trend from Paycore Mineral's FAD deposit and I-80 Gold's Ruby Deeps, Hilltop, Blackjack and Archimedes deposits, all located immediately to the north of the Company's Jewel Ridge property.
Rock Sampling Highlights:
While completing geological mapping during the 2021 and 2022 field seasons, a total of 586 rock samples were collected for examination and assay1. The samples were collected from outcrop, float and rock dumps, situated over large a part of the Property. The best and most encouraging results were obtained over the western half of the Jewel Ridge land holdings (see Maps 1, 2 and 3).
Outstanding assays in all of gold, silver and Pb+Zn, highlight the prominent carbonate replacement deposit (CRD) mineralization associated with the Hamburg dolomite-Dunderberg shale contact at the Atlas shaft (8), Dunderberg decline (9), Catlin shaft (11) & Uncle Sam tunnel (14). Along this favorable one kilometre-long stratigraphic and structural trend, maximum values of 45.2 g/t Au, 547 g/t Ag & 25.2% Pb+Zn were obtained, attesting to the high-grade nature of CRD mineralization. Notably, the Hamburg dolomite is one of the most important litho-types for hosting CRD mineralization, given its brittle nature of deformation and favourable chemical properties.
The Eureka Tunnel locale (4) yielded high-grade assays over a 400-metre long trend, returning up to 11.2 g/t Au, 1,460 g/t Ag & 4.6% Pb+Zn. At this particular occurrence, CRD mineralization is known to have been overprinted by a younger Carlin-style event, resulting in an enrichment or higher-grade tenor to precious-metal mineralization.
Encouraging results were also obtained on the Elise and Lord Byron patents, close to the Alexandra shaft (6) and Sterling tunnel (7) occurrences. Here, a clustering of samples returned best values of 6.6 g/t Au, 459 g/t Ag & 5.0% Pb+Zn from CRD mineralization. Diamond drilling has never been completed in this area of the Property.
The Adelphi patent situated to the west of the Jewel Ridge property, returned excellent results from very limited sampling. Assay values of up to 38.6 g/t Au, 118 g/t Ag & 4.1% Pb+Zn were obtained, pointing to significant, largely untapped CRD mineralization potential in the El Dorado dolomite, in this area. Mineralized mantos in this locale are structurally controlled and appear to be related to the Silver-Connor fault and a NNW-trending fault.
District-Scale Implications:
Collectively, the high-grade assays obtained over the western half of the Property comprise a broad, two kilometre-wide north-trending corridor, hosting high-grade CRD mineralization. This surface mineralization is thought to be a shallow manifestation of a widespread CRD hydrothermal system situated at depth, on the Jewel Ridge property. The deeper bonanza-grade CRD intercepts over wide widths, recently obtained by I-80 Gold and Paycore Minerals, occur at depths of 500 metres and greater (Ruby Deeps & FAD deposits, respectively), underscoring a real need for deep exploration and deeper drilling at Jewel Ridge.
District-scale structures at Jewel Ridge (Jackson fault and parallel faults), delineate a structural corridor, intimately related with neighboring deposits to the north, including the FAD and historic Ruby Hill of Paycore Minerals, as well as Ruby Deeps, Hilltop, 426, Blackjack and Archimedes of I-80 Gold (see inset on Maps 1, 2 & 3). There are striking similarities, pertaining to structure, rock type and their relationships with precious and base-metal mineralization as seen at Jewel Ridge and on the properties of Paycore Minerals and I-80 Gold.
1Samples analyzed at Paragon Laboratories Inc., in Nevada, USA, using a multi-element analyses with ICP-MS analytical package (50AR, aqua regia digestion).Over limit samples were re-assayed for copper, lead, zinc and silver by ICP-OES(OLAR-OES). Gold and Silver analyses utilized 30 gram samples(Au-AA30, Ag-AA30) with over limit gold (5 ppm) and silver (100 ppm), fire assays by gravimetric finish (Au-GRAV, AG-GRAV).
Moving Forward in 2023:
In view of the relatively shallow depths of diamond drilling completed on the Property to date and the depth of high-grade CRD mineralization being encountered at the neighbouring FAD and Ruby Deeps deposits (500 to 600 metres below surface), a MagnetoTelluric (MT) geophysical survey will be undertaken at Jewel Ridge to assist in targeting future deeper drilling.
MT is a frequency-based electromagnetic survey (EM) that utilizes electric and magnetic field measurements to calculate resistivity. Resistivity lows (or conductors) respond to and reflect the presence of metallic sulphide deposits, particularly semi-massive to massive CRD deposits. Resistivity highs, map out alteration such as silicification and jasperoid, common alteration styles associated with CRD and Carlin-type deposits. MT surveys are capable of detecting sulphide bodies to depths of up to one kilometre. Such surveys have been very successful on a number of Nevada-based exploration programs targeting CRD deposits recently.
Given that the key factors governing the formation of CRD deposits involve interplay between structure, rock types and proximity to magmatic centres (causative intrusions), a high-resolution drone magnetic survey will be completed over the Jewel Ridge property as well. The survey will of great assistance in an ongoing interpretation in mapping faults, intrusive centres (Ruby Hill intrusion) as well as key contacts between respective rock types and their relationships with mineralization.
The MT and high-resolution drone magnetic survey are slated for completion in late winter-early spring due to winter access issues (drone survey) and other challenges affecting the quality of the data (MT survey). Once complete, all data will be processed, modelled in 3D and integrated with all other data, including drill assays and known zones of mineralization. It is anticipated that several quality targets will be generated by said surveys in preparation for an initial drill program, slated for the spring of 2023.
Qualified Person:
Donald Hoy, M. Sc., P. Geo., Golden Lake's Vice President of Exploration, is the Qualified Person responsible for the technical content in this news release.
About Jewel Ridge
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree: 1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
Golden Lake Exploration Inc., Thursday, January 19, 2023, Press release pictureGolden Lake Exploration Inc., Thursday, January 19, 2023, Press release pictureGolden Lake Exploration Inc., Thursday, January 19, 2023, Press release picture
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/735888/Golden-Lake-Obtains-High-Grade-Gold-Silver-Lead-Zinc-Assays-from-Sampling-on-Its-Jewel-Ridge-Property-Eureka-County-Nevada
SKYG.v $SRKZF Sky Gold Provides Update Re: Consolidation
by @accesswire on 19 Jan 2023, 06:02
VANCOUVER, BC / ACCESSWIRE / January 19, 2023 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG)(OTC PINK:SRKZF) announces that the proposed consolidation (the "Consolidation") of its common shares (the "Shares"), previously announced on December 20, 2022, will proceed, effective at the open of markets on Monday, January 23, 2023.
The Consolidation will proceed on the basis of three (3) existing Shares for one (1) new Share. Accordingly, it is anticipated that an approximate total of 28,755,532 Shares would be issued and outstanding following the Consolidation, assuming no other change in the issued capital. Any fractional Shares arising as a result of the Consolidation will be rounded down to the nearest whole number.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company's stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
There will be no change in the Company's name, nor in its trading symbol. The post-Consolidation Shares will continue to trade on the TSX Venture Exchange under the symbol "SKYG", but with a new ISIN number (CA83085J3001) and CUSIP number (83085J300).
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/735864/Sky-Gold-Provides-Update-Re-Consolidation
WHN.v Westhaven Drills 6.20 Metres of 73.51 g/t Gold and 92.37 g/t Silver Within 12.00 Metres of 39.42 g/t Gold and 51.81 g/t Silver at the Franz Zone; Shovelnose Gold Property
by @GlobeNewswire on 17 Jan 2023, 06:55
VANCOUVER, British Columbia, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
Westhaven is reporting assays for 22 holes from its drill campaign at Shovelnose. An additional 10 holes are in the lab pending assays.
Gareth Thomas, President & CEO, comments: “We have now drilled greater than 450 gram-metre gold intercepts on three separate zones at Shovelnose gold property. This latest intercept at Franz (473 gram-metres gold), is 1km northwest from the hole at the FMN zone where we drilled the highest gold-silver intercept ever on the property at 857 gram-metres gold, and 2.3km from the 1.1-million-ounce gold equivalent resource at South Zone. The recent Franz drilling is significant because the mineralization starts at surface, is easily accessible, and bonanza grade. Hole SN22-333 (12.00m of 39.42 g/t Au) was collared 50m from SN20-101 (7.78m of 14.84 g/t Au) which was the best hole drilled at Franz until now. Drilling at the Franz will resume shortly with the view of stepping out to the northwest to test for the extension of this high-grade intercept."
Recent Highlights:
SN22-333 : Franz
(10.30 – 14.00m) 3.70 metres (m) of 39.27 g/t gold (Au) and 55.81 g/t silver (Ag)
(30.00 – 42.00m) 12.00m of 39.42 g/t Au and 51.81 g/t Ag, including 6.20m of 73.51 g/t Au and 92.37 g/t Ag.
SN22-334 : Franz
(7.10 – 57.48m) 50.38m of 1.09 g/t Au and 6.37 g/t Ag,
including 1.42m of 27.47 g/t Au and 119.40 g/t Ag.
These recent Franz drill results are significant because, in conjunction with previous drilling, they demonstrate the subsurface continuity of bonanza grade mineralization extending from immediately beneath the exposed bedrock outcrop to a depth of about 60m. Next steps to establish a resource within this 165m long vein system, and to potentially facilitate the collection of a larger surface sample, would be additional shallow drilling, preliminary metallurgical test work and enhanced environmental baseline studies.
Peter Fischl, Exploration Manager, comments: “Drilling continued through the Fall on Shovelnose, focusing on the FMN and Franz targets. A series of 50m spaced step-outs were completed on Vein Zone 1, tracing the zone northwestward to the Franz-FMN cross-fault. The zone and flanking rhyolite dykes are displaced by about 170m to the southwest, where they outcrop as the Franz showing. Drilling continued to Franz to confirm and better define higher grade mineralization at surface, immediately west of the cross-fault. This outcropping of Vein Zone 1 at Franz likely represents the uplift of the Franz block by tens of metres on the west side of the Franz-FMN cross-fault. The control of higher grades along Vein Zone 1 may in part be due to the presence of syn-mineral cross-structures, some of which may have been reactivated as post-mineral cross-faults, such as the Franz-FMN cross-fault. The higher grades encountered at Franz immediately west of the Franz-FMN cross-fault may be related to the intersection of Vein Zone 1 and this cross-structure. Vein Zone 1 is being reassessed for such structures, for example in the southeastern part of FMN towards the Tower Target, in an area of looser spaced drilling (100m+) that may have missed such mineralization.”
FMN (GAP) & FRANZ
Drilling commenced at FMN, working systematically northwest towards the Franz Zone, following up on both high-grade quartz-adularia vein intersections from 2021 drilling (e.g. hole SN21-161: 9.15 g/t Au over 15.97m) and broader intervals of mineralization in breccias containing quartz fragments derived from the veins. Both types of mineralization continue to be intersected and reported by Westhaven throughout the 2022 drill program.
Examples of the high-grade veins include holes;
SN22-212 (37.24 g/t Au over 23.03m; Westhaven Press Release April 06, 2022).
Examples of intersections in the secondary breccia target, which may add to the bulk tonnage potential at FMN, include;
SN22-211 (1.16 g/t Au over 42.17m; Westhaven Press Release April 06, 2022),
SN22-238 (1.51 g/t Au over 76.98m; Westhaven Press Release June 27, 2022),
SN22-278 (1.84 g/t Au over 21.90m; Westhaven Press Release September 08, 2022) and
SN22-295 (1.95 g/t Au over 25.00m; Westhaven Press Release November 08, 2022).
Based on drill results to date, FMN has potentially been drilled off to the northwest, but remains open to the southeast, back towards Tower and Alpine where drilling is at a much coarser spacing and, in a number of cases, may not have been ideally positioned. Multiple high-grade gold shoots are not uncommon in enriched epithermal systems - targeting of the appropriate paleo-elevation depositional horizon and an understanding of structural controls is key to exploration success.
Recent interpretation suggests that the Franz Zone, discovered as a surface outcrop and drilled in 2020, may be a fault offset of the FMN Zone. This increases the potential for additional mineralization to be discovered along the main trend.
Drilling at Franz, reported herein as holes SN22-333 (39.42 g/t Au over 12.00m) and SN22-334 (1.09 g/t Au over 50.38m), was designed to test the distribution of mineralization at depth within the vein structure, in conjunction with recent clearing of the original showing.
Table of results:
Hole_ID Zone From (m) To (m) Int (m) Au (g/t) Ag (g/t) High Au (ppb)
SN22-303 FMN 21.96 24.00 2.04 0.76 1.22 762
SN22-304 FMN 148.14 160.00 11.86 0.69 4.68 4010
including 148.14 150.00 1.86 2.62 21.98 4010
SN22-305 Portia no significant assay 102
SN22-306 Portia no significant assay 75
SN22-307 FMN no significant assay 205
SN22-308 FMN no significant assay 33
SN22-309 FMN no significant assay 156
SN22-310 FMN no significant assay 44
SN22-311 FMN no significant assay 126
SN22-312 FMN 140.00 144.26 4.26 0.33 1.37 432
147.40 150.05 2.65 0.46 1.48 662
SN22-313 FMN 197.00 198.90 1.90 0.31 2.02 346
SN22-314 FMN 134.00 137.00 3.00 0.27 1.30 270
SN22-315 FMN 101.20 106.04 4.84 2.06 2.36 5870
including 101.20 103.00 1.80 4.36 4.68 5870
SN22-316 FMN no significant assay 101
SN22-317 FMN 171.78 180.61 8.83 0.26 3.54 769
and 191.00 192.00 1.00 2.07 2.28 2070
SN22-318 FMN assays pending
SN22-319 FMN assays pending
SN22-320 FMN no significant assay 78
SN22-321 FMN no significant assay 30
SN22-322 FMN 166.86 169.40 2.54 0.35 10.34 376
SN22-323 FMN 115.47 116.74 1.27 0.26 31.50 262
SN22-324 FMN 215.00 218.00 3.00 0.28 4.59 278
SN22-325 FMN assays pending
SN22-326 FMN assays pending
SN22-327 FMN assays pending
SN22-328 FMN assays pending
SN22-329 FMN assays pending
SN22-330 FMN assays pending
SN22-331 FMN assays pending
SN22-332 FMN assays pending
SN22-333 Franz 10.30 14.00 3.70 39.27 55.81 100000
including 11.08 14.00 2.92 49.28 64.66 100000
and 14.00 30.00 16.00 0.25 2.75 616
and 30.00 42.00 12.00 39.42 51.81 189500
including 30.80 37.00 6.20 73.51 92.37 189500
and 42.00 60.86 18.86 0.41 6.68 1825
SN22-334 Franz 7.10 57.48 50.38 1.09 6.37 37800
including 7.10 15.00 7.90 0.62 2.47 3710
including 7.10 8.00 0.90 3.71 8.95 3710
including 33.64 47.72 14.08 0.46 3.67 1840
including 34.40 35.00 0.60 1.84 3.35 1840
including 56.06 57.48 1.42 27.47 119.40 37800
including 56.06 57.00 0.94 37.80 148.00 37800
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas
Gareth Thomas, President, CEO & Director
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70% passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Westhaven has engaged the services of LFG Equities Corp. ("LFG") to provide digital media and marketing services. LFG, a Toronto based company, will provide content development, media buying and distribution, and marketing services through social media channels and online media placements to the Company. The Company and LFG act at arm's length, and LFG has no present interest, directly or indirectly, in the Company or its securities. Under the terms of the agreement, LFG will be paid $10,000 per month plus applicable taxes for a period of 3-months.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68ee9fd8-2c10-4bf7-9e31-00df3cbe045d
https://www.globenewswire.com/NewsRoom/AttachmentNg/dec66a99-948d-49e3-b14d-db22c0be0899
https://www.globenewswire.com/NewsRoom/AttachmentNg/7638df45-df2f-40e9-9843-501a6a25af02
Primary Logo
Image 1
PLAN MAPS
Image 2
CROSS-SECTIONS
Image 3
CROSS-SECTIONS
BARU.v $BARUF Baru Gold Corp Provides Update on Jakarta Lawsuit and Corrects False Information
by @thenewswire on 17 Jan 2023, 07:31
(TheNewswire)
Baru Gold Corp.
January 17, 2023 – TheNewswire - Baru Gold Corp (“Baru” and its subsidiary PT. Tambang Mas Sangihe (“TMS”) or the “Company”) (TSXV:BARU) (OTC:BARUF) wishes to update stakeholders and investors on the legal status on its upcoming gold production project on Sangihe Island in North Sulawesi, Indonesia, and to correct false information posted online about the status of the Company’s permits and Contract of Work.
The Supreme Court of Indonesia (the “Court”) has reached a decision on two legal challenges filed against various government departments. The first lawsuit was filed in Manado, Indonesia (the “Manado Lawsuit”) against two government departments responsible for the issuance of the Environmental Permit (“AMDAL”) to the Company. The second lawsuit was filed in Jakarta against the Ministry of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) for the production license upgrade (the “Operational Permit”) issued to TMS.
As announced to shareholders on January 9, 2023, the AMDAL lawsuit was decided and was in favour of the Company. The AMDAL remains valid and the Supreme Court of Indonesia’s decision is final.
Unfortunately, on January 16th, 2023 the Company learned that the Court did not decide in favour of the MEMR for the Operational Permit. The Court has decided that the Operational Permit be cancelled. The reason for the cancellation should be released in a few days. The Company intends to reapply for a new Operational Permit from MEMR.
At this point in time, the Company does not anticipate a lengthy delay in obtaining the new Operational Permit, as the Company expects no-to-little additional work or information required to reapply. The individuals behind this attempt to impact the Company’s operations has caused no significant changes to our timeline. Drilling is anticipated shortly and is not dependent on the Operational Permit. The reissuance of the Operational Permit is expected before subsequent construction and production. The Company remains committed to gold production in 2023.
The Company wishes to note that individuals opposed to TMS operations have initiated a social media campaign that suggests the loss of the Operational Permit affects the Company’s Contract of Work and\or AMDAL, and is required to vacate Sangihe Island. These statements are entirely incorrect and is yet another example of a pattern of false information, by clearly biased individuals, to undermine the Company’s legal rights. The Company suspects these individuals are making such claims to panic our shareholders, manipulate uninformed organizations and individuals, and to exaggerate what is only a minor setback for the Company. We unequivocally reiterate, this court ruling has no impact on the Company’s AMDAL and the Contract of Work, as both are valid and in full force.
Mr. Terry Filbert, CEO of Baru, commented, “Although regrettable, this is only a small and inconsequential incident and just another example of the questionable opposition to the legal operation of TMS on Sangihe. I’m obviously still very happy that the Supreme Court’s final decision was to reaffirm the validity of the AMDAL. The AMDAL is a requirement for the issuance of the Operational Permit. With the AMDAL still in full force, it will be fairly straightforward to address any outstanding concerns and we will simply reapply for a new Operational Permit. This will get fixed. We are working very closely with MEMR to expedite the permitting process. For accurate information, please refer to our official press releases and not a group of individuals that has repeatedly and continues to produce outright lies and false statements about our operation.”
It should be noted, Sangihe Island has a history of rampant illegal mining that has heavily polluted the environment, including the dumping of mine tailings into the ocean, reefs, and mangroves, and the polluting of the river and ocean with mercury. These illegal miners have had no permits and are largely not residents of Sangihe Island. Further, they have a history of intimidation of the members of the Sangihe community, they pay lower than industry wages, do not contribute to the local economy, have no regards for staff safety, have resulted in irreparable environmental damages, and do not pay federal royalties or taxes.
In contrast, the Company has conducted itself, and will continue to conduct itself, in accordance with all laws, rules, and regulations. We do so with the utmost transparency, and with respect for the local community and for the environment. The Company has published their Environmental, Social and Governance policies that show how we will make positive contributions to the health, well-being, and quality of life of Sangihe’s residents, and protect the environment.
The Company appreciates the ongoing support it receives from the MEMR with whom we are working closely to rectify and obtain a new Operational Permit.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team boasts extensive experience in starting and operating small-scale gold assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2023 TheNewswire - All rights reserved.
BARU.v $BARUF Baru Gold Update on Removal of Illegal Miners
by @thenewswire on 11 Jan 2023, 07:30
(TheNewswire)
Baru Gold Corp.
January 11 2023 – TheNewswire - Baru Gold Corp. (“Baru” or the “Company”) (TSXV:BARU) (OTC:BARUF) and subsidiary PT Tambang Mas Sangihe (“TMS”) are pleased to update shareholders on positive changes related to our project on Sangihe Island (“Sangihe”).
Direct physical confrontation and indirect actions by both illegal miners and their supporters have prevented TMS from operating on Sangihe. In October 2022, National Police Chief Listyo Sigit Prabowo appointed Setyo Budiyanto as Kapolda (Police Chief) of the North Sulawesi Provincial Police. Kapolda Setyo previously served as Director at the Corruption Eradication Commission of Indonesia. Kapolda Setyo has announced his crime reduction agenda and is prioritizing the removal of all illegal mining operations in North Sulawesi, which includes the island of Sangihe.
Before Kapolda Setyo’s appointment, the number of illegal miners on Sangihe were steadily increasing. The illegal miners eventually reached over 500 individuals using 13 heavy machine excavators across two different mine sites totalling approximately 20 hectares. These industrial-scale operations have no permits nor legal recognition. The activities of the illegal miners are plainly visible and includes the transportation of heavy equipment on public roads. The illegal miners are primarily non-resident, use the most harmful mining techniques, undertake no environmental remediation, contribute no tax revenue nor local employment.
The illegal miners have a history of physical violence and intimidation. Recently, two reporters from the national magazine Gatra wrote about their encounter with the illegal miners on Sangihe. While documenting the work sites, the reporters were surrounded, intimidated and confined. After a lengthy confrontation, the reporters were released only after they destroyed photograph evidence of the illegal mining operations. The staff of TMS have also been threatened and violently attacked. The use and threats of violence is criminal and appropriate charges have been filed, and legal action is underway. The Company is thankful the reporters were eventually released, and our staff have made a full physical recovery.
The clearly criminal actions of these illegal miners are unacceptable and no longer tolerated. Kapolda Setyo recently announced operations across North Sulawesi to expel and dismantle the supply chain on which the illegal miners depend. Kapolda Setyo has already laid charges against individuals who were purchasers of illegally mined gold in North Sulawesi.
Until the recent police activity, there have been no serious effort to block, interfere or stop the operations of illegal mines. The Company has reported the relatively few remaining illegal miners on Sangihe and has received assurances their removal is imminent. The Company looks forward to resuming both drilling and production-related operations.
Baru Gold CEO, Terry Filbert, commented, “I would like to personally welcome and thank Kapolda Setyo Budiyanto for protecting the residents on Sangihe Island. Kapolda Setyo’s actions against illegal miners, their supporters, supply chain and purchasers will stop the unchecked environmental destruction, economic plunder and culture of violence and intimidation that the 250,000 residents on Sangihe have been forced to endure. For the first time, TMS is beginning to receive the necessary support and security from the North Sulawesi Provincial Police to protect our operational activities, employees and suppliers. I am grateful for the prioritization of TMS legal operations over illegal ones. TMS permits and licences are valid, we are compliant with the law in all respects and committed to sustainable development practices that balances the economic needs of Indonesia with environmental protection.”
The Company will continue to ensure the laws of Indonesia and the obligations within our Contract of Work are upheld.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team boasts extensive experience in starting and operating small-scale gold assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2023 TheNewswire - All rights reserved.
WHN.v Westhaven Drills 5.66 Metres of 6.83 g/t Gold and 1.90 Metres of 21.15 g/t Gold at the Skoonka Creek Gold Property https://ceo.ca/@globenewswire/westhaven-drills-566-metres-of-683-gt-gold-and-190
GMG.v $GMGMF GMG Provides Projects Team Update
by @newsfile on 9 Jan 2023, 06:00
Brisbane, Queensland, Australia--(Newsfile Corp. - January 9, 2023) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide an update to the composition of the Company's leadership, technical and projects teams intended to support and accelerate the Company's next phase of development.
GMG believes there are important business opportunities related to GMG's targeted 'energy saving' and 'energy storage' solutions, which continue to provide strong encouragement for the Company to invest resources to drive targeted sales from its energy saving business and support the continued maturation of GMG's graphene-Aluminium Ion battery technology.
To better support and accelerate these opportunities the previously separate Technology and Projects teams will be combined into the Projects Team to better integrate the R&D of graphene production with development of the graphene production plant, the liquid graphene blend plant and the targeted development of the automated battery manufacturing pilot plant. This change is aimed at enhancing opportunities for improvement in process technology and project delivery and accelerate time to market for our future projects.
In connection with this change in team composition, GMG is pleased to announce that Bobby Bran has been promoted to the role of Chief Projects Officer, leading the combined Technology and Projects teams. Bobby has been with GMG for over 4 years most recently as Production Manager and Head of Major Projects. Mr Bran has over 10 years of experience delivering large-scale multi-million dollar civil engineering projects on behalf of several major contractors. Bobby has experience in a diverse range of disciplines with expertise in project leadership and management - including safety in construction.
Jeffrey Morris former Chief Technology Officer has left GMG to pursue other opportunities and the Company thanks him for his tireless efforts over the last two years to progress the automation and development of the graphene production process.
GMG's CEO Craig Nicol stated, "I am very pleased to see Bobby promoted to the role of Chief Projects Officer leading the combined Projects and Technology teams. This new combined team will improve our engineering capability to deliver our future production assets."
GMG's Chair Guy Outen stated, "I congratulate Bobby on his promotion to Chief Projects Officer and look forward to his continuing strong leadership of a talented team to further leverage GMG's technical capabilities to enhance and accelerate our commercial aspirations."
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements relating to the Company's development plans and the Technology and Projects teams combining into the Projects Team.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the effectiveness of Company's deployment of resources, the success of the Company's development plans and the successful combination of the Technology and Projects teams into the Projects Team.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company's resources and personnel, the accuracy of the Company's expectations in the energy saving and storage space and the successful combination of the Technology and Projects teams into the Projects Team.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150696
BARU.v $BARUF Baru Gold Update On Successful Final Appeal of Lawsuit https://ceo.ca/@thenewswire/baru-gold-update-on-successful-final-appeal-of-lawsuit
SKYG.v $SRKZF Newfoundland neighbour upping their game...New Found Increases Queensway Drill Program to 500,000 Meters NFG.v NFGC https://ceo.ca/@businesswire/new-found-increases-queensway-drill-program-to-500000
BARU.v $BARUF Baru Gold Announces $1.5 Million Financing https://ceo.ca/@thenewswire/baru-gold-announces-15-million-financing
SKYG.v $SRKZF Sky Gold Announces Consolidation
by @accesswire on 20 Dec 2022, 17:02
VANCOUVER, BC / ACCESSWIRE / December 20, 2022 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG) (OTC PINK:SRKZF) announces a proposed consolidation (the "Consolidation") of its common shares (the "Shares") on the basis of three (3) existing Shares for one (1) new Share. Currently, a total of 86,266,597 Shares are issued and outstanding. Accordingly, if put into effect on the basis of three (3) existing Shares for one (1) new Share, an approximate total of 28,755,532 Shares would be issued and outstanding following the Consolidation, assuming no other change in the issued capital.
Management of the Company believes that the Consolidation will increase the Company's flexibility and competitiveness in the market place and make the Company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for its Shares. Sky is currently assessing numerous properties in the critical minerals space in an effort to strengthen the company's project portfolio. There is no guarantee or assurance that Sky will identify or acquire additional mineral properties.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company's stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
Completion of the Consolidation is subject to the acceptance of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including with respect to the completion of the Consolidation or the identification or acquisition of additional mineral assets. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/732691/Sky-Gold-Announces-Consolidation
SKYG.v $SRKZF Newfoundland neighbour... NFG.v $NFGCNew Found Closes $50 Million Bought Deal Financing, Led by Eric Sprott https://ceo.ca/@businesswire/new-found-closes-50-million-bought-deal-financing
GMG.v $GMGMF GMG Invests $AU 600,000 to Accelerate Battery Pouch Cell Customer Testing & Development in 2023
by @newsfile on 12 Dec 2022, 06:00
Brisbane, Queensland, Australia--(Newsfile Corp. - December 12, 2022) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG " or the "Company") is pleased to provide an update on its ongoing investment in the Company's Battery Development Centre ("BDC"). The GMG Board has approved an additional $AU 600,000 in capital expenditure, to accelerate the progress of semi-automatic pouch cell prototype production in the BDC for customer trials and Graphene Aluminium Ion (G+AI) Battery cell development. The Company has also successfully increased its organisational capacity by attracting new staff experienced in pouch cell manufacturing, thereby enabling the acceleration of its battery performance optimisation programme.
GMG believes its pouch cells could be used in a wide range of potential applications, including:
personal communication devices,
internet of things (IOT) sensors,
personal mobility devices,
energy storage,
high power industrial applications,
electric aviation,
electric vehicles, and
personal electronics.
Cannot view this image? Visit: https://images.newsfilecorp.com/files/8082/147626_d4942a5f64f5fbba_001full.jpg
GMG Pouch Pack Cell Prototype
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/147626_d4942a5f64f5fbba_001full.jpg
GMG's Managing Director and CEO, Craig Nicol, commented: "This investment adds to our existing pouch cell manufacturing capabilities and together with GMG's internal expertise the Company is now focused on progressing collaborative partnerships with several potential battery customers to further accelerate commercial development work in 2023."
Cannot view this image? Visit: https://images.newsfilecorp.com/files/8082/147626_d4942a5f64f5fbba_002.jpg
GMG Battery Development Centre
To view an enhanced version of this graphic, please visit:
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The additional CAPEX expenditure will assist with future optimisation, prototype development and production, and assembly times in the BDC. The additional equipment is expected to be operational in Q2 2023.
GMG will continue to work with various scientific and engineering methods to optimise capacity, energy and power density, and overall design of coin cell and/or pouch cell products.
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils.
For further information, please contact:
Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the expectation that the Pilot Battery Plant will allow the Company to develop, manufacture and test its own G+AI Battery coin cell and pouch packs in-house and that such capability may accelerate the development of the Company's G+AI Batteries; the expectation that additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format will arrive in January 2022; GMG's expectations relating to construction of an initial commercial coin cell G+AI Battery manufacturing facility, production and sales of G+AI Batteries and the anticipated timing of such events; the proposed location of the anticipated manufacturing facility; and the potential full commercialization of the Company's technology.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel; the intention of the Company to research, develop and produce certain products; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format and the timeline for such acquisition; the ability of the Company to complete construction of an initial commercial coin cell G+AI Battery manufacturing facility, including obtaining necessary permits; timing of anticipated construction; and fluctuations in the market for graphene.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines; the ability of the Company to acquire additional equipment to enable the manufacture of G+AI Batteries in pouch pack cell format in a timely manner; the costs associated with commissioning a pouch cell G+AI Battery manufacturing and testing equipment; the ability of the Company to obtain necessary production permits; the continued demand for graphene; sufficient demand for the Company's products; and that in-house production of G+AI Batteries by the Company will be cost-effective.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147626
SKYG.v $SRKZF Newfoundland neighbour out with a sweet financing announcement. New Found Gold Corp. Announces C$50 Million Bought Deal NFG.v $NFGC Financing https://ceo.ca/@globenewswire/new-found-gold-corp-announces-c50-million-bought
BARU.v $BARUF Baru Gold Cancels Previously Announced Financing
by @thenewswire on 1 Dec 2022, 07:30
(TheNewswire)
Baru Gold Corp.
December 1, 2022 – TheNewswire - Baru Gold Corp (TSXV:BARU) | (OTCQB:BARUF) (“Baru” or the “Company”) announces that the Company will not be proceeding with the proposed non-brokered private placement that was previously announced on October 12, 2022. The Company may announce a new non-brokered private placement in the future however is currently considering alternate forms of funding.
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit. The Company has received approval for the upgrade of its licence to advance the Sangihe project to construction and production in 2022. Construction at Sangihe gold heap leach project is currently underway.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2022 TheNewswire - All rights reserved.
ILI.v $ARXRF Imagine Lithium Reports up to 2.88% Li2O from Channel Samples 1 km Southwest of Jackpot Main Zone https://ceo.ca/@newsfile/imagine-lithium-reports-up-to-288-li2o-from-channel
SKYG.v $SRKZF Newfoundland neighbour out with some stunning intercepts ... $NFGC NFG.v New Found Intercepts 42.6 g/t Au Over 32m at Keats West, Includes High-grade Interval of 171.6 g/t Au Over 6.5m https://ceo.ca/@businesswire/new-found-intercepts-426-gt-au-over-32m-at-keats
WHN.v Westhaven Completes Its Inaugural Drill Program at Skoonka Creek Gold Property; Extends Vein Zone by 940 Metres https://ceo.ca/@globenewswire/westhaven-completes-its-inaugural-drill-program-at
ILI.v $ARXRF Imagine Lithium Hires SGS Lakefield for Metallurgy Testing on Jackpot Lithium Property and Provides Corporate Update https://ceo.ca/@newsfile/imagine-lithium-hires-sgs-lakefield-for-metallurgy
GMG.v $GMGMF GMG Announces $5 Million Bought Deal Unit Offering
by @GlobeNewswire on 8 Nov 2022, 18:23
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES
BRISBANE, Australia, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Graphene Manufacturing Group Ltd. (TSX-V: GMG) (“GMG” or the “Company”), is pleased to announce that it has entered into an agreement pursuant to which Eight Capital as lead underwriter and sole bookrunner, together with a syndicate of underwriters (collectively, the “Underwriters”), will purchase 1,819,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $2.75 (the “Issue Price”) for gross proceeds of $5,002,250 (the “Offering”).
Each Unit shall be comprised of one ordinary share in the capital of the Company (a “Share”) and one ordinary share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of $3.35 for a period of 48 months following the closing date of the Offering.
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, and/or the components thereof, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering.
The Company intends to use the net proceeds of the Offering for growth initiatives, working capital and general corporate purposes.
The closing date of the Offering is scheduled to be on or about November 29, 2022 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 (the “TSXV”) and the applicable securities regulatory authorities.
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 United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
GRAPHENE MANUFACTURING GROUP LTD.
Per: “Craig Nicol”
Craig Nicol
Chief Executive Officer and Managing Director
About GMG
GMG is a disruptive Australian-based clean-tech company listed on the TSXV (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets. The Company is pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lubricant oil and performance enhanced HVAC-R coating system.
For further information, please contact:
- Craig Nicol, Chief Executive Officer, and Managing Director of GMG
craig.nicol@graphenemg.com
+61 415 445 223
- Leo Karabelas at Focus Communications Investor Relations (FCIR)
leo@fcir.ca
+1 647 689 6041
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. In particular, this news release contains forward-looking information pertaining to the following: the likelihood of completion of the Offering, the use of proceeds from the Offering, the anticipated closing date of the Offering and the ability to obtain the necessary regulatory authority and approvals in connection with the Offering.
In making the forward-looking information in this release, GMG has applied certain factors and assumptions that are based on GMG’s current beliefs as well as assumptions made by and information currently available to GMG. Although GMG considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such factors include, among others: the inability to obtain the necessary regulatory approvals from the applicable securities regulators or obtain the approval of the TSXV in connection with the Offering, the occurrence of a material adverse change, disaster, change of law or other failure to satisfy the conditions to closing of the Offering; the inability of the Company to apply the use of proceeds from the Offering as anticipated; the ability of the Company to achieve its corporate objectives or otherwise advance the progress of GMG; an inability to predict and counteract the effects of COVID-19 on the business of the Company; general market and industry conditions; and those risks set out in the Company’s public documents filed on SEDAR.
Readers are cautioned not to place undue reliance on forward-looking information. GMG does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
WHN.v Westhaven Drills 25.00 Metres of 1.95 G/T Au and 5.61 G/T Silver, Including 6.61 Metres of 4.64 G/T Gold and 9.36 G/T Silver at the Shovelnose Gold Property https://ceo.ca/@globenewswire/westhaven-drills-2500-metres-of-195-gt-au-and-561
ILI.v $ARXRF weekly looks like 3rd time challenging this 0.095/0.10 resistance area...3rd time lucky ? time will tell, some technical green shoots ACC/DIS breaking out... ADX shows DI+ on top with the signal strengthening #bullish also PMO and Prings KST both recently crossed into bullish territory signalling strength ahead. https://schrts.co/vwuKytFm
ILI.v $ARXRF neighbour RCK.v plans to put their Georgia Lakes ppty into production in 2024 as outlined in this recent interview... https://www.northernontariobusiness.com/mining-the-northwest/mining-the-northwest-charged-up-lithium-explorers-move-toward-mine-production-6011455
WHN.v Westhaven Commences Drill Program at Skoonka Creek Gold Property https://ceo.ca/@globenewswire/westhaven-commences-drill-program-at-skoonka-creek
SKYG.v neighbour in Que releasing some decent base metal intervals... $STE $AMX $GGC STARR PEAK DISCOVERS MASSIVE NEW UNTESTED BHEM ANOMALY ON THE NORMETMAR DEEP ZONE AND REPORTS DRILL PROGRAM UPDATEhttps://ceo.ca/@newswire/starr-peak-discovers-massive-new-untested-bhem-anomaly
SKYG.v $SRKZF Sky Gold Commences Work wth Goldspot to Define Targets at the Mustang Project, Newfoundland https://ceo.ca/@accesswire/sky-gold-commences-work-wth-goldspot-to-define-targets
ILI.v $ARXRF Imagine Lithium Intercepts 21 m Grading 1.16% Li2O at Jackpot https://ceo.ca/@newsfile/imagine-lithium-intercepts-21-m-grading-116-li2o
RKL.ca Link to the piece Stefan Bogner of Rockstone Research penned on the co's efforts in Utah "The Emergence of Soft-Rock Lithium ‘Clay‘ Mining"
https://www.rockstone-research.com/index.php/en/research-reports/6017-The-Emergence-of-Soft-Rock-Lithium-Clay-Mining
SKYG.v $SRKZF's Newfoundland neighbour out with some decent infill drilling results ...NFG.v $NFGC New Found Intercepts 68.19 g/t Au Over 2.05m & 45.05 g/t Au Over 2.25m, Extends Keats Main Zone to Over 1km Along Strike
https://ceo.ca/@businesswire/new-found-intercepts-6819-gt-au-over-205m-4505
GLM.ca $GOLXF Golden Lake Welcomes Donald Hoy as Vice President of Exploration
by @accesswire on 27 Sep 2022, 05:00
VANCOUVER, BC / ACCESSWIRE / September 27, 2022 / Golden Lake Exploration Inc. ("GLM" or the "Company") (CSE:GLM)(OTCQB:GOLXF) is very pleased to welcome Mr. Don Hoy, M.Sc., P.Geo., as the Company's Vice President of Exploration.
Don Hoy brings over 30 years of experience, acting in both technical and senior management capacities, for junior and major mining companies. Recently, he served as President of Wolfden Resources Corporation and prior to that, as Vice President Exploration and Development for Cliffs Natural Resources Inc., as well as Freewest Resources Canada Inc. During his tenure with Freewest, he was a recipient of the Prospectors and Developers Association of Canada 2009 Bill Dennis Award, as 1 of 5 persons credited with the ‘Ring of Fire' discoveries in northern Ontario. He is currently Vice President of Exploration for Copper Lake Resources Ltd. Mr. Hoy is a Professional Geoscientist in Ontario and holds a B.Sc. degree from the University of Western Ontario and an M.Sc. degree (Mineral Exploration) from Queen's University.
"We are very excited to have Don Hoy on board, with his wealth of experience in the precious metals market and with public companies, join our team as we look to advance our Jewel Ridge project located in the prolific Battle Mountain - Eureka trend in Nevada." stated Mike England, CEO and President of Golden Lake Exploration Inc.
Don Hoy commented; "The Battle Mountain Eureka trend is one of the premier gold belts in the world in terms of its endowment, variety of styles of mineralization and exploration upside. I look forward to working with the Golden Lake exploration team on this outstanding opportunity to add value to the Jewel Ridge property and ultimately, to make new discoveries."
The Company further announces it has set 1.8 million options at a price of $0.08 for a period of 5 years to consultants and directors in accordance with the Company's stock option plan.
Golden Lake also announces it has determined to drop one option consisting of certain claims in its Copperview portfolio. A revised map of Copperview will be available to view on the Company's website.
About Jewel Ridge
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/717561/Golden-Lake-Welcomes-Donald-Hoy-as-Vice-President-of-Exploration
RKL.ca Rockland Resources More Than Triples Lithium Claystone Portfolio in Juab County, Utah
by @accesswire on 20 Sep 2022, 05:01
VANCOUVER, BC / ACCESSWIRE / September 20, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to report a major expansion of the Company's claim position in west-central Utah directed at lithium mineralization hosted in clay or claystone volcanic tuff units. An additional 1,525 claims have been located in 4 property blocks comprising 30,500 acres (12,343 ha). When combined with the original Lithium Butte Property, where sampling has returned values up to 4,080 parts per million lithium (ppm Li), the Company's holdings total 2,076 claims, comprising 41,520 acres (16,219 ha).
Lithium Butte and area properties are positioned as Utah's leading claystone lithium project
District scale (41,520 acres) land position prospective for lithium in mining friendly Utah, USA
Utah is No 3 USA location on the 2021 Fraser Institute list, exceptional property location, near highways, power and manpower
Lithium mineralized claystones as well as lithium in brine potential
Similar geology to Nevada's hotbed of activity in the Clayton Valley - Tonopah area
Highly elevated lithium content in the primary Spor Mtn Formation Volcanic Beryllium-tuff member
Claystone alteration has further enriched lithium concentrations
Early channel sampling has provided grades of 25.2 metres at 1,388 ppm lithium including 8 metres of 2,155 ppm lithium within the channel
Initial grab samples at Lithium Butte provided values of 1,200 ppm up to 4,080 ppm Lithium - a great starting point
Properties also contain beryllium (Be) mineralization with values over 4,000 ppm Be and are contiguous with producing Materion Corp. (MTRN - NYSE) Be mine
On site company testing facility set up with LIBS analyzer and geologists to provide much faster turnaround time to help move the project move forward fast
Rockland Resources Ltd., Tuesday, September 20, 2022, Press release picture
All claims are located in Juab County, Utah, and are interpreted to be prospective for lithium mineralization, based on similarities to the Lithium Butte Property, where Company sampling and a historic (2010) database indicate widespread lithium mineralization hosted in clay or claystone volcanic tuff units. The newly acquired claims are located about 10 kilometres North-Northeast of the northwestern portion of the Lithium Butte property, east of the Fish Springs Mountain Range. The 4 claim blocks comprise the North Spor, GP, Cane Springs and Fish Springs Flat properties adjoin to the north and west of the Spor Mountain beryllium mine owned by Materion Corporation (NYSE: MTRN), the sole producer of beryllium ore in the United States. Rockland's primary exploration target is claystone hosted lithium mineralization, however, the Fish Springs Flat Property covers an area interpreted to be prospective for lithium brine mineralization (Mills, S.E. and Rupke, A., 2020, Utah Geological Survey, Circular 129).
Dr. Richard Sutcliffe, Rockland's President stated "Rockland has had the advantage of being an early mover in the acquisition of lithium exploration properties in the Basin and Range Geological Province of western Utah. The Company has acquired an extensive land position in two adjacent basins that both have the hallmarks of the lithium claystone mineralization model including lithium enriched volcanic units, geothermal fluid activity, restricted basins, claystone horizons, and favourable structure. Our field team is currently conducting geological mapping and soil surveys that utilize an in-house LIBS analyzer capable of lithium analysis to rapidly evaluate targets for future drilling."
The Company also announces that pursuant to an agreement dated August 5th, 2022 between the Company and Multiple Metals Resources Ltd. ("MMRL"), the Company has agreed to grant MMRL a 10% carried interest in the Lithium Butte (60 core claims) Property. The Company will bear all exploration costs in relation to the mineral interests until such time as the Company has incurred $2.5 million in exploration expenditures, after which all exploration costs will be shared on a pro rata basis between the Company and MMRL, subject to standard dilution conditions. If MMRL's interest is diluted to less than 2%, it will convert to a 0.5% net smelter returns royalty. MMRL is an arm's length party to the Company. The 60 claims represent 1,200 acres (486 ha) of the total 41,520 acres (16,219 ha).
Additionally, the Company has agreed to grant MMRL and Helvellyn Capital Corp. a 1.5% net smelter returns royalty over any mineral claims that it acquires in a specified portion of Juab County, Utah. The net smelter returns royalty is subject to a 0.5% buyback right in consideration of $1 million. Helvellyn Capital Corp. is a private Ontario company of which Richard Sutcliffe, the President and a director of the Company, is the principal.
Program QA/QC - Previous and recent sampling on the Lithium Butte Property was carried out by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also responsible for reviewing and approving the geological contents of this news release. Samples were transported in sealed bags by the Project Manager and shipped to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis will be performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra claystone project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds and option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.
View source version on accesswire.com:
https://www.accesswire.com/716691/Rockland-Resources-More-Than-Triples-Lithium-Claystone-Portfolio-in-Juab-County-Utah
WHN.v The Power Play by The Market Herald Releases a New Interview with Westhaven Gold Discussing Their Latest News https://ceo.ca/@accesswire/the-power-play-by-the-market-herald-releases-a-new-8328b
BARU.v $BARUF Baru Gold Successfully Appeals Lawsuit Filed in Makassar and Provides Update on Lawsuit Filed in Jakarta
by @thenewswire on 16 Sep 2022, 06:01
(TheNewswire)
Baru Gold Corp.
Vancouver, BC – TheNewswire – September 16, 2022 - Baru Gold Corp (TSXV:BARU) | (OTC:BARUF) (the “Company” or “Baru”) wishes to provide an update on the appeal of a lawsuit filed in Makassar, Indonesia (the “Makassar Lawsuit”) against two government departments responsible for the issuance of the Environmental Permit (“AMDAL”) to Baru’s subsidiary, PT Tambang Mas Sangihe (“TMS”).
The Makassar Lawsuit was filed in October 2021 against the North Sulawesi Province Government Head of Investment and One Stop Integrated Services of North Sulawesi and Head of Environmental Department of North Sulawesi pertaining to the issuance of the AMDAL to TMS in 2020. While TMS was not named in the Makassar Lawsuit, the court granted permission for a representative of TMS to attend the proceedings in support of the government departments. In June 2022, judgement was issued in favor of the plaintiff (see news release dated June 28, 2022). In response, the ruling was appealed and on September 7, 2022, TMS was successful in having the June ruling overturned.
Update on the Ministry of Energy and Mineral Resources Lawsuit
In a news release dated September 6, 2022, the Company provided an update on a lawsuit filed in Jakarta, Indonesia in June 2021 (the “Jakarta Lawsuit”), against the Ministry of Energy and Mineral Resources (the “MEMR”), the government department responsible for issuing the operational mining permit to TMS. While TMS was not named in the Jakarta Lawsuit, the court granted permission for a representative of TMS to attend the proceedings in support of MEMR.
In April 2022, the Jakarta Lawsuit was dismissed. The decision was appealed and on September 6, 2022, the appeal was successful and the April ruling was overturned.
It is the Company’s position that the court made its September ruling in the Jakarta Lawsuit based on the June 2022 ruling in the Makassar Lawsuit. As the June ruling in the Makassar Lawsuit was subsequently overturned, the MEMR and TMS have jointly filed an appeal of the Jakarta Lawsuit to the highest court in Indonesia.
Terry Filbert, CEO of Baru Gold, commented “The Company notes that the Makassar decision came only a few days after the Jakarta decision. TMS appears to have been unsuccessful in its appeal of the Jakarta lawsuit based on the June 2022 Makassar ruling which has now been overturned. I would like to reiterate that TMS continues to hold a valid Contract of Work (“CoW”) with the Indonesian government which remains unaffected by any of these court decisions. The CoW permits TMS to explore our licenced area. The Company can and will proceed with the planned resource development program of infill drilling to upgrade some of the inferred resources into indicated and measured resource status.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of gold, as reported in the Company's "Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" (May 30, 2017). Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study.
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work ("CoW") is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks such as the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs.
ABOUT BARU GOLD CORPORATION
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team of mining and finance professionals boasts extensive experience in starting and operating small-scale gold and coal assets. With strong retail and institutional shareholder support, Baru is positioned to become Indonesia’s next gold producer.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
info@barugold.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
Copyright (c) 2022 TheNewswire - All rights reserved.
WHN.v Westhaven Arranges Financing Package With Franco-Nevada Corporation
by @GlobeNewswire on 14 Sep 2022, 06:00
VANCOUVER, British Columbia, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V: WHN) (“Westhaven” or the “Company”) is pleased to announce that it has entered into a financing arrangement with Franco-Nevada Corporation (TSX, NYSE: FNV) (“Franco-Nevada”), the leading gold-focused royalty and streaming company.
Westhaven has agreed to sell a 2% net smelter return royalty (the “NSR”) to Franco-Nevada for US$6,000,000 (the “NSR Transaction”). The NSR applies to all of Westhaven’s claims across the Spences Bridge Gold Belt (the “SBGB”) in Southwestern British Columbia, Canada. Westhaven has an option to buy-down 0.5% of the NSR for US$3,000,000 for a period of 5 years from the closing of the transaction. Westhaven has also agreed to sell to Franco-Nevada for US$750,000 the Talisker Resources Ltd. net smelter return royalty (the “Talisker Royalty”) originally granted to Westhaven by Sable Resources Ltd. and referenced in Westhaven’s news release dated October 16th, 2018 (the “Talisker Royalty Transaction”). Link to news release: Westhaven news release October 16th, 2018
In addition, Franco-Nevada has agreed to subscribe for 2,500,000 shares of the Company at a price of CAD$0.40 for gross proceeds of CAD$1,000,000 (the “Private Placement”).
Gareth Thomas, President & CEO, comments: “We are very pleased to welcome Franco-Nevada as a shareholder and stakeholder in Westhaven and the Spences Bridge Gold Belt. Franco-Nevada’s investment is a major endorsement of Westhaven’s properties in Southwestern British Columbia. Westhaven’s exploration activities across its projects are now fully financed until 2024.”
Westhaven has an ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the SBGB and borders the Coquihalla Highway 30 kilometres (km) south of Merritt, British Columbia. Westhaven benefits from the B.C. Mining Exploration Tax Credit (the “METC”) which is a permanent incentive to support investment in mining. The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C. and can be claimed on up to 30% of qualified mining exploration expenditures. Westhaven can claim the full 30% METC as its properties fall within mountain pine beetle affected areas.
The Private Placement remains subject to TSX Venture Exchange approval, and all securities issued in the Private Placement will be subject to a four-month hold period, during which time the securities may not be traded. Further, each of the NSR Transaction, the Talisker Royalty Transaction and the Private Placement remain subject to satisfaction of closing conditions customary for transactions of this nature.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Shaun Pollard"
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
spollard@westhavengold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.
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SKYG.v $SRKZF's Newfoundland neighbour out with some decent infill drilling results ...by @businesswire on 13 Sep 2022, 03:31
New Found Intercepts 152.1 g/t Au Over 3.85m & 12.98 g/t Au Over 14.95m at Lotto Main Vein, Confirms Continuity of High-Grade Over 220m Strike
New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from nine diamond drill holes that were completed as part of an infill and step-out drill program testing the Lotto Main Vein located 2km north of the Keats Zone along the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100% owned Queensway project comprises an approximately 1500km2 area, accessible via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland and Labrador.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913005571/en/
Figure 1. Keats - Lotto plan view map (Graphic: Business Wire)
Figure 1. Keats - Lotto plan view map (Graphic: Business Wire)
Lotto Highlights:
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Prospect
Vein/Zone
NFGC-22-664
66.40
70.00
3.60
16.13
Lotto
Lotto Main
Including
68.80
69.35
0.55
92.60
NFGC-22-673
206.15
210.00
3.85
152.08
Lotto
Lotto Main
Including
206.15
208.90
2.75
211.91
NFGC-22-684
211.45
226.40
14.95
12.98
Lotto
Lotto Main
Including
216.30
217.00
0.70
25.30
Including
224.30
226.40
2.10
72.35
Lotto Drilling Highlights
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
At the Lotto prospect, diamond drilling is progressing on a work program designed to step out and expand the known extents of the high-grade gold bearing Lotto Main Vein and to also infill in areas for better definition of the very high-grade gold domains which will help with understanding the mineralization controls and ultimately guide future exploration efforts.
The Lotto Main Vein contains high-grade gold mineralization that has now been defined over a strike length of 220m with the intercept of 16.13 g/t Au over 3.60m in NFGC-22-664 and to a depth of 225m. This intercept is 190m north of the previously reported 150.3 g/t over 11.5m in NFGC-21-201 (reported on June 23, 2021). The Lotto Main Vein target is not closed off in any direction along strike or to depth (Figures 1, 3, and 4).
Infill drilling at the Lotto Main Vein is targeting a “roll”, an area where there is a drastic change in the vein orientation, interpreted to be a location of dilation and potentially correlated to the emplacement of high-grade gold mineralization. The current drill results have provided further confirmation of this interpretation with the intercepts of 152.1 g/t Au over 3.85m in NFGC-22-673 and 12.98 g/t Au over 14.95m in NFGC-22-684 (Figures 1, 3, 4, and 5).
This exploration work supports the current geological model and has also contributed to the understanding of the mineralization controls at Lotto. This improved understanding will allow for efficient testing of this high-grade corridor going forward as gold mineralization remains open in all directions.
Melissa Render, VP Exploration for New Found stated: “These results affirm the richness and potential of the Lotto Main Vein. After a short hiatus to focus on near-surface targets in this area, drilling has resumed testing this target area to depth, successfully expanding segments of the Lotto Main Vein that contain very high-grade gold. The Lotto Main Vein is open in all directions and ongoing exploration continues to capture critical information important to the understanding of the mineralization controls, namely that these sites of complexity are often the locations of high-grade gold mineralization thus representing high-priority target areas for future testing.”
Discussion
Mineralization at the Queensway Project is hosted by a fold-thrust sequence of northeast-striking, steeply dipping turbiditic sedimentary rocks deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision. During this prolonged period of continued shortening, at least two regional-deformation zones developed and include the AFZ and JBP fault zones. The AFZ is interpreted to be a significant, deep-seated thrust fault that strikes southwest across the full 100km+ length of the property and is likely the main conduit for the gold mineralizing fluids, much like the Cadillac-Larder Lake Fault Zone in the Abitibi.
As a result of progressive deformation, the brittle host stratigraphy developed an extensive network of gold-bearing fault zones enveloping the AFZ, the extents of which are not yet known. Higher grades and widths of gold mineralization occur in areas where there was greater mineralizing fluid flow such as at structural intersections, at dilational openings within fault structures, and along lithological contacts where breakage occurs due to rheological differences in the compressional strength of contrasting sedimentary rock units. A significant amount of the high-grade gold mineralization is interpreted to be epizonal in nature, having been emplaced when tectonic movements resulted in the explosive tapping of deep gold-rich magmatic fluids that rapidly precipitated gold as they migrated towards surface.
A majority of the exploration drilling to date at Lotto has been focused on testing the Main Vein. Like the Golden Joint Main Vein, it too strikes north-south but is steeply dipping to the east. This specific vein also occurs approximately 200m east of the AFZ, has been defined to a vertical depth of 325m and over a length of 225m (Figures 1 and 4) and contains a high-grade segment now defined to a depth of 225m and over a strike length of 220m. The Lotto Main Vein is spatially associated with a brittle fault zone and is developed in close proximity to a narrow bed of greywacke. The Lotto Main Vein is often massive and vuggy with localized domains of brecciation. There is also an apparent high-grade domain that is interpreted to steeply plunge to the northeast. The vein at this location crosscuts the thin bed of greywacke, but also, the presence of late brecciated vein phases suggests that there is a fault intersection at this location. Continued exploration drilling in this area will focus on expanding the Lotto Main Vein high-grade domain but will also shift to systematic drill testing stepping north into untouched regions along the AFZ.
Drillhole Details
Hole No.
From (m)
To (m)
Interval (m)1
Au (g/t)
Prospect
Vein/Zone
NFGC-22-556
50.95
53.45
2.50
4.47
Lotto
Bridge
Including
53.05
53.45
0.40
16.85
And
137.75
140.25
2.50
5.66
Tuesday
Including
139.35
140.25
0.90
14.45
NFGC-22-574
216.95
219.00
2.05
1.66
Lotto
And
254.40
258.90
4.50
1.22
NFGC-22-590
No Significant Values
Lotto
Tuesday
NFGC-22-618
61.00
64.40
3.40
2.01
Lotto
Tuesday
And
150.60
152.95
2.35
3.24
NFGC-22-636
No Significant Values
Lotto
NFGC-22-647
51.40
53.60
2.20
1.12
Lotto
Lotto Main
And
54.60
57.10
2.50
1.33
And
72.10
78.00
5.90
1.09
NFGC-22-664
66.40
70.00
3.60
16.13
Lotto
Lotto Main
Including
68.80
69.35
0.55
92.60
NFGC-22-673
106.75
108.80
2.05
8.29
Lotto
Lotto Main
Including
106.75
107.50
0.75
22.00
And
206.15
210.00
3.85
152.08
Including
206.15
208.90
2.75
211.91
And
239.80
242.70
2.90
7.92
Including
241.15
241.80
0.65
15.55
NFGC-22-684
206.00
208.65
2.65
1.41
Lotto
Lotto Main
And
211.45
226.40
14.95
12.98
Including
216.30
217.00
0.70
25.30
Including
224.30
226.40
2.10
72.35
2: Summary of composite results reported in this press release for Keats North
1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.
Hole No.
Azimuth (°)
Dip (°)
Length (m)
UTM E
UTM N
NFGC-22-684
258
-69
237
5429072
658983
NFGC-22-673
263
-68
258
5429097
658990
NFGC-22-664
300
-61
174
5429139
658919
NFGC-22-647
308
-45
213
5429139
658919
NFGC-22-636
355
-60
234
5429048
658824
NFGC-22-618
320
-56
168
5429026
658810
NFGC-22-590
300
-45
156
5428992
658819
NFGC-22-574
300
-45
276
5429100
658881
NFGC-22-556
299
-45.5
264
5428989
658875
Table 3: Details of drill holes reported in this press release
Queensway 400,000m Drill Program Update
Approximately 63% of the planned 400,000m program at Queensway has been drilled to date with ~38,840m of the core still pending assay results. Fourteen (14) core rigs are currently operating meeting New Found’s targeted drill count for Q2.
Sampling, Sub-sampling, Laboratory and Discussion
True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 40% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and composite intervals are calculated using a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au.
All drilling recovers HQ core. Drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A professional geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades. Once all sample intervals have been chosen, photos of the wet and dry core are taken for future reference.
Technicians saw the core along the defined cut-line. One-half of the core is kept as a witness sample and the other half is submitted for crushing, pulverizing, and assaying. Individual sample bags are sealed and placed into shipping pails and/or nylon shipping bags, sealed and marked with the contents.
Drill core samples are shipped to ALS Canada Ltd. (“ALS”) for sample preparation in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick; an ISO-17025 accredited laboratory. ALS operates under a commercial contract with New Found.
The entire sample is crushed to approximately 70% passing 2 mm. A 3,000-g split is pulverized. “Routine” samples do not have visible gold (“VG”) identified and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry (“ICP”) finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire assayed and two splits of the fine fraction (sized less than 106 microns) are fire assayed. The three assays are combined on a weight-averaged basis.
Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for gold.
All sample pulps are also analyzed for a multi-element ICP package (ALS method code ICP61).
Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal quality assurance programs.
Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found’s quality control protocols.
New Found’s quality control program also includes submission of the second half of the core for approximately 5% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
The Company does not recognize any factors of drilling, sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this news release have been verified by the Company’s Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this press release dated September 13, 2022, by New Found. Mr. Matheson certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 400,000m drill program at Queensway, now approximately 63% complete. The Company is well funded for this program with cash and marketable securities of approximately $71 million as of September 2022.
Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.
Acknowledgements
New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Contact
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company’s Queensway gold project in Newfoundland and Labrador; assay results; the interpretation of drilling and assay results, the results of the drilling program, mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the timing of same; the merits of the Queensway project;; future press releases by the Company; and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," “interpreted,” "intends," "estimates," "projects," "aims," “suggests,” “often,” “target,” “future,” “likely,” “pending,” "potential," "goal," "objective," "prospective," “possibly,” “preliminary”, and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005571/en/
GLM.ca $GOLXF Golden Lake Reports Phase 2 Drill Results; Intercepts 3.31 G/T Gold and 209.5 G/T Silver Over 3.96 Metres From the Hamburg Mine Zone, Jewel Ridge Project, Nevada
by @accesswire on 9 Sep 2022, 05:00
VANCOUVER, BC / ACCESSWIRE / September 9, 2022 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") (OTCQB:GOLXF) is pleased to report remaining assay results from its Phase 2 diamond drill program, on the Company's keystone Jewel Ridge Property ("Property"), located in the prolific Eureka gold district, Nevada (Table 1). The Jewel Ridge property is located along strike and contiguous to I-80 Gold Corp.'s Archimedes/Ruby Hill gold mine to the north, Paycore Minerals Inc.'s FAD property to the northwest, and Timberline Resources' advanced-stage Lookout Mountain project to the south1. Drilling comprised 9 holes (1,513.3 metres) on the Hamburg Zone at the south end of the Property, and the initial drilling on the Catlin Zone comprised of 2 holes (398.9 metres) (Table 2). As previously reported the Hamburg Zone returned a significant intercept of 26.37 metres averaging 5.38 grams gold per tonne (g/t Au) from a shallow depth of 42.64 metre in hole JR-22-36DD (press release March 23, 2022).
A total of 11 holes (1.912.3 metres) are reported in this press release, including holes JR-22-39DD to JR-22-50 DD (note JR-22-43DD was lost) (Tables 1 and 2). Highlights of the drill program include:
Highest grade intercept was returned in hole JR-22-50DD on the Hamburg Zone from a depth of 132.28 metres, returning 3.31 g/t Au, and 209.5 g/t Ag with 1.55 percent(%) lead (Pb) and .70 % zinc (Zn) over a core width of 3.96 metres.
The most significant intersection (based on core width times gold grade) was returned in hole JR-22-40DD, on the Hamburg Zone, averaging 41.15 metres over a core width of 1.05 g/t Au and 3.9 g/t Ag, from a depth of 128.63 metres,
Only two holes were drilled on the Catlin Zone, and both returned higher silver values associated with Carbonate Replacement Deposit ("CRD") mineralization. Hole JR-22-45DD returned 0.17 g/t Au and 308.6 g/t Ag over 4.05 metres from a depth of 62.09 metres, and hole JR-22-46DD returned 5.23 g/t Au and 84.0 g/t Ag over 1.52 metres from a depth of 9.75 metres. Additional drilling is required to determine the extent and orientation of CRD mineralization at the Catlin Zone.
The Hamburg target is approximately 1.8 kilometres south-southeast of the Eureka Tunnel target, where the Company was actively exploring throughout most of 2021. At the Hamburg Mine, historic gold production from the underground and open pit workings, and previous exploration activities had focused on oxide gold mineralization in the Hamburg Dolomite unit, and/or at the contact of the Hamburg Dolomite with the Dunderberg Shale.
1The mines and exploration projects in the Eureka District provide geologic context for the Jewel Ridge Property, but this is not necessarily an indication that the Project hosts similar grades or tonnages of mineralization.
TABLE 1: DRILL RESULTS
HOLE
ZONE
FROM
TO
LENGTH
GOLD
SILVER
LEAD
ZINC
INTERVAL
ID
NAME
(m)
(m)
(m)
(g/t)
(g/t)
(%)
(%)
COMMENTS
JR-22-39DD
Hamburg
5.18
15.85
10.67
0.36
3.7
0.21
0.37
CRD-Hamburg Dolomite
15.85
29.57
13.72
0.76
5.6
0.32
0.47
CRD-Hamburg Dolomite
37.19
43.37
6.19
0.42
6.3
0.09
2.28
CRD-Hamburg Dolomite
65.65
87.48
21.82
0.15
2.9
N/A
N/A
Carlin-Hamburg Dolomite
159.41
168.25
8.84
0.16
1.3
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-40DD
Hamburg
73.76
80.80
7.04
0.30
2.4
N/A
N/A
Carlin-Hamburg Dolomite
107.41
117.96
10.55
0.77
1.6
N/A
N/A
Carlin-Hamburg Dolomite
127.10
146.91
19.81
0.41
2.0
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-41DD
Hamburg
128.63
169.77
41.15
1.05
3.9
N/A
N/A
Carlin-Hamburg Dolomite
including
136.25
142.34
6.10
4.35
6.6
N/A
N/A
Carlin-Hamburg Dolomite
186.54
198.73
12.19
0.17
0.9
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-42DD
Hamburg
66.14
90.53
24.38
1.35
2.9
N/A
N/A
Carlin-Hamburg Dolomite
including
70.71
74.52
3.81
6.58
12.6
N/A
N/A
Carlin-Hamburg Dolomite
99.67
108.14
8.47
0.27
0.8
N/A
N/A
Carlin-Hamburg Dolomite
111.86
117.96
6.10
0.14
3.4
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-44DD
Hamburg
46.33
58.52
12.19
0.25
1.9
N/A
N/A
Carlin-Hamburg Dolomite
87.48
96.62
9.14
0.20
1.3
N/A
N/A
Carlin-Hamburg Dolomite
125.58
131.67
6.10
0.30
1.4
N/A
N/A
Carlin-Hamburg Dolomite
143.87
163.68
19.81
0.17
0.3
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-45DD
CATLIN
62.09
66.14
4.05
0.17
308.6
N/A
N/A
CRD
152.67
169.77
17.10
0.33
6.6
N/A
N/A
CRD
JR-22-46DD
CATLIN
2.13
6.71
4.57
0.39
31.5
0.63
1.25
CRD
9.75
11.28
1.52
5.23
84.0
1.39
0.9
CRD
JR-22-47DD
Hamburg
89.00
114.91
25.91
0.23
1.3
N/A
N/A
Carlin-Hamburg Dolomite
including
107.29
108.69
1.40
1.61
3.4
N/A
N/A
Carlin-Hamburg Dolomite
148.44
161.24
12.80
0.42
6.1
N/A
N/A
Carlin-Hamburg Dolomite
including
157.58
160.63
3.05
0.93
1.6
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-48DD Hamburg
101.19
113.39
12.19
0.14
1.8
N/A
N/A
Carlin-Hamburg Dolomite
JR-22-49DD Hamburg
0.00
3.66
3.66
5.54
44.1
2.44
0.93
Dump
JR-22-50DD
Hamburg
104.24
113.39
9.14
0.25
1.4
N/A
N/A
Carlin-Hamburg Dolomite
121.01
137.77
16.76
1.12
54.3
0.48
0.40
CRD-Hamburg Dolomite
including
132.28
136.25
3.96
3.31
209.5
1.55
0.70
CRD-Hamburg Dolomite
Drilling has stopped on the Jewel Ridge project while the Company awaits the approval of the comprehensive Plan of Operation (PoO) over most of the Jewel Ridge property. EM Strategies, based in Reno, Nev., has led the preparation and submission to the Bureau of Land Management (BLM) for the PoO process. The Jewel Ridge PoO represents a significant stage and asset for the company, as the baseline studies completed (biological, hydrological, and archeological) will be essential for any future development of a gold deposit on the property. The PoO over the property, and the larger disturbance allowance, will give the company more flexibility in planning and permitting future drill sites.
The Company has recently completed a ground gravity survey over the entire Jewel Ridge property. The survey was contracted to MaGee Geophysical Services and the results are currently being reviewed by Golden Lake geologists.
Drilling Quality assurance and quality control statement
The HQ- and PQ-sized drill core reported in this news release was logged and prepared at the Golden Lake Exploration core facility in Eureka, Nevada, where it was cut, bagged and prepared for analysis before submittal Paragon Geochemical Laboratories Inc., Nevada, USA. Core rock samples were analyzed using a multi-element analysis with ICP-MS analytical package ("50AR-MS"; aqua regia digestion). Over limit sample values were re-assayed for: (1) values of copper >1%; (2) values of zinc >1%; (3) values of lead >1%; and (4) values of silver >100 g/t using the high-grade material ICP-OES analytical package ("OLAR-OES"). Gold and Silver fire assays established gold and silver grades using 30 gram samples ("Au-AA30; Ag-AA30) with overlimit gold (5 ppm) and silver (100 ppm) fire assays by gravimetric finish (Au-GRAV; Ag-GRAV). Certified standards, blanks, and duplicates were inserted into the sample shipment to ensure integrity of the assay process. Selected samples were chosen for duplicate assay from the coarse reject and pulps of the original sample. No QA/QC issues were noted with the results reported.
Golden Lake Exploration Inc., Thursday, September 8, 2022, Press release pictureGolden Lake Exploration Inc., Thursday, September 8, 2022, Press release picture
TABLE 2: DRILL HOLE COLLAR INFORMATION
Hole
Easting
Northing
Elevation
Depth
Azimuth
Inclination
ID
(Metres)
(Metres)
(Metres)
(Metres)
(Degrees)
(Degrees)
JR-22-39DD
587958
4368793
2343
203.30
-50
180
JR-22-40DD
588031
4368725
2370
156.06
-50
214
JR-22-41DD
588014
4368737
2368
213.97
-65
220
JR-22-42DD
588027
4368727
2369
183.49
-50
263
JR-22-43DD
587968
4368800
2343
29.57
-70
210
JR-22-44DD
587966
4368797
2343
183.49
-70
210
JR-22-45DD
587825
4369537
2291
215.49
-50
320
JR-22-46DD
587823
4369540
2291
183.49
-50
272
JR-22-47DD
588000
4368313
2391
178.00
-50
65
JR-22-48DD
587997
4368381
2382
183.49
-50
65
JR-22-49DD
588086
4368640
2350
40.23
-50
246
JR-22-50DD
588083
4368574
2367
171.30
-50
245
About the Jewel Ridge Property
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to I-80 Gold Corp.'s Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The mines and exploration and development projects in the Battle Mountain-Eureka Trend provide geologic context for the Jewel Ridge Property, but this is not necessarily indicative that the Project host similar grades or tonnages of mineralization.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Qualified person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Daniel MacNeil, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain-Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The Company also owns a large (37.814 hectare) early-stage property in south-central British Columbia, contiguous to Kodiak Copper Corp., and Gold Mountain Mining Inc., that is highly prospective for copper-gold porphyry and mesothermal gold-bearing quartz-vein mineralization.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Golden Lake Exploration Inc.
View source version on accesswire.com:
https://www.accesswire.com/715302/Golden-Lake-Reports-Phase-2-Drill-Results-Intercepts-331-GT-Gold-and-2095-GT-Silver-Over-396-Metres-From-the-Hamburg-Mine-Zone-Jewel-Ridge-Project-Nevada